MAO GEPING: 2025 Interim Report

In the first half of 2025, Mao Geping Cosmetics achieved revenues of 2.588 billion yuan, representing a year-on-year growth of 31.3%; net profit reached 670 million yuan, marking a 36.1% increase compared to the previous year. Among these, sales revenue from color cosmetics amounted to 1.422 billion yuan, an increase of 31.1% year-on-year; skincare product sales revenue was 1.087 billion yuan, up 33.4% year-on-year. Products in the foundation category performed strongly, with retail sales of the luxurious caviar cushion and light-reflecting translucent powder each exceeding 200 million yuan. During the period, the company continued to expand its product matrix, launching two new high-end perfume series, "Guo Yun Ning Xiang" and "Wen Dao Dong Fang", thereby extending its beauty product range into the...Show More

In the first half of 2025, Mao Geping Cosmetics achieved revenues of 2.588 billion yuan, representing a year-on-year growth of 31.3%; net profit reached 670 million yuan, marking a 36.1% increase compared to the previous year. Among these, sales revenue from color cosmetics amounted to 1.422 billion yuan, an increase of 31.1% year-on-year; skincare product sales revenue was 1.087 billion yuan, up 33.4% year-on-year. Products in the foundation category performed strongly, with retail sales of the luxurious caviar cushion and light-reflecting translucent powder each exceeding 200 million yuan. During the period, the company continued to expand its product matrix, launching two new high-end perfume series, "Guo Yun Ning Xiang" and "Wen Dao Dong Fang", thereby extending its beauty product range into the fragrance market. In terms of offline channels, the first brand flagship store was opened in the core business district of Hangzhou, and new entries were made into high-end department stores such as Beijing SKP and Chongqing Starlight 68. As of the end of June 2025, the brand's counters were spread across more than 120 cities nationwide, including 405 self-operated counters and 32 distributor counters. The company's online and offline channels developed in synergy, with offline and online cosmetics sales revenue reaching 1.224 billion yuan and 1.297 billion yuan respectively, reflecting year-on-year growth of 26.6% and 39.0%. The membership system continued to expand, with a total of approximately 13.4 million online members and 5.6 million offline members by the end of June 2025, resulting in an overall repurchase rate increasing from 24.8% in the same period last year to 26.8%.