Forest Cabin's 2025 annual report is out: revenue doubles, net profit greatly increases, independent innovation and research and development build a high-end domestic skincare barrier.

On the evening of March 24th, "The First Stock of High-end Chinese Skincare" FOREST CABIN (02657) released its 2025 annual performance report. The annual report shows that the company achieved a total operating income of 2.45 billion yuan for the year, an increase of 102.5% year-on-year; gross profit of 2.09 billion yuan, an increase of 101.4% year-on-year; and adjusted net profit of 401 million yuan, an increase of 100.1% year-on-year. Multiple core operating indicators achieved high-quality growth, and profitability continued to improve, demonstrating the company's resilience and operational efficiency in the high-end skincare track. Behind the steady growth in performance is the company's coordinated efforts in product strength, brand strength, and channel strength. Continuous cultivation on the raw material end has provided important support for product innovation. By the end of 2025, the self-developed "Klueffer Yeast/Zhejiang Hongshan Camellia/Leaf Fermentation Product Cytoplasmic Solution" by FOREST CABIN officially passed the registration of new cosmetics raw materials by the National Medical Products Administration. This is the third new cosmetics raw material backed by Zhejiang Hongshan Camellia after Zhejiang Hongshan camellia seed oil and Hypocrea jecorina/Zhejiang Hongshan camellia seed oil fermentation product, marking its continued advancement in the combination of modern biotechnology and local plants. In March of this year, the company added two new Zhejiang Hongshan Camellia raw materials, "Zhejiang Hongshan Camellia Flower Extract" and "Zhejiang Hongshan Camellia Leaf Extract," which were approved simultaneously, solidifying the foundation of the "flower, leaf, seed" full-chain research and development, further enriching the raw material matrix. Currently, FOREST CABIN has successfully launched Camellia originated PDRN raw materials, with a series of related products expected to be listed between April and September 2026. Compared to traditional animal source PDRN, Hongshan Camellia PDRN exhibits significant characteristics such as stable sustainability, low sensitivity, easy absorption with small molecular weight, and excellent efficacy potential in wrinkle reduction, whitening, repair, and antioxidant effects. Moreover, in 2025, FOREST CABIN hosted the second Skin Cell-level Anti-wrinkle Scientific Research Conference and released the industry's first "China Skin Cell-level Anti-wrinkle Skincare Blue Book," clarifying the solutions and technological directions for skin cell-level anti-wrinkle. At the same time, the Cell-level Anti-Wrinkle Joint Research Laboratory co-established by FOREST CABIN and Shanghai Jiao Tong University, and the Mitochondrial Anti-wrinkle Research Platform successively landed during the year, further strengthening basic scientific research capabilities and promoting the efficient transformation of scientific research results into products, leading the skincare industry into a new stage of anti-aging. As of the end of 2025, FOREST CABIN has accumulated 87 patents (including 46 invention patents) and 139 experienced research and development personnel, with team members covering multiple fields such as botany, biology, dermatology, and applied chemistry, with over 55% having master's degrees or higher, ensuring the professionalism and forward-looking nature of research and development activities. The continuous strengthening of scientific research capabilities has also driven the company's increasing influence in the industry standard system. In 2025, FOREST CABIN collaborated with industry-related departments, associations, and leading enterprises to participate in the formulation and release of 12 group standards and 1 industry standard, and deeply involved in the drafting of group standards related to the "Skin Nourishing with Oil" sub-track, promoting the standardized development of sub-track and further consolidating its leading position. Looking ahead, FOREST CABIN stated that the company will continue to focus on high-end, multi-brand, and globalization in its strategic direction. With the "1+4+N" major product matrix as the core carrier, the company will deepen the synergy of all channels and brand value precipitation based on raw material barriers and research and development advantages, solidifying its leading position in the high-end Chinese skincare track.