Mao Geping Cosmetics (1318) H2 2025 earnings summary

Executive summary

• Achieved 30.0% revenue growth to RMB5,050.5 million and 36.8% net profit growth to RMB1,205.4 million year-over-year, consolidating leadership in China's premium beauty sector.

• Expanded product portfolio to 469 SKUs across color cosmetics, skincare, and fragrance, with new launches in high-end perfume and co-branded collections.

• Opened flagship stores and counters in key locations, including first Hong Kong counter, marking international expansion milestones.

• Enrolled 6,591 students in makeup artistry training, expanded education initiatives, and increased public welfare donations.

Financial highlights

• Revenue rose to RMB5,050.5 million from RMB3,884.7 million, up 30.0% year-over-year.

• Net profit increased to RMB1,205.4 million from RMB881.3 million, up 36.8% year-over-year.

• Gross profit margin remained high at 84.2% (2024: 84.4%).

• Earnings per share reached RMB2.46 (2024: RMB2.18).

• Proposed final dividend of RMB1.00 per share, totaling RMB490 million.

• Cash and cash equivalents at year-end: RMB2,437.5 million; no bank borrowings outstanding.

Outlook and guidance

• Plans to expand offline and online sales networks, upgrade department store counters, and enhance brand presence in high-tier cities and overseas markets.

• Focus on R&D, in-house production, and new product categories, with ongoing investment in flagship brand and multi-brand strategy.

• Targeting further internationalization, including local teams and partnerships in Europe, America, and Asia-Pacific.

• Ongoing upgrades to training facilities and online platforms to meet growing demand for professional makeup education.