Shanghai Jahwa(600315) 经济观察网·2025-04-28 09:36Core Viewpoint - Shanghai Jahwa has undergone significant transformation under the leadership of new Chairman and CEO Lin Xiaohai, focusing on strategic adjustments and operational efficiency to enhance long-term growth potential despite short-term financial pressures [1][2][5]. Financial Performance - In 2024, Shanghai Jahwa reported revenue of 5.679 billion yuan and a net profit attributable to shareholders of -833 million yuan, with Q1 2025 revenue at 1.704 billion yuan and a net profit of 217 million yuan [1][4]. - The decline in profit was primarily due to a goodwill impairment of 613 million yuan related to the overseas baby care brand, Tommee Tippee, and proactive adjustments in domestic channel structures [4]. Strategic Focus - The company has implemented a "Four Focus" strategy, emphasizing core brand development, brand building, online growth, and operational efficiency to regain growth momentum [2][5]. - A significant shift towards online channels has been noted, with online revenue reaching 2.539 billion yuan in 2024, accounting for 44.7% of total revenue, an increase of 2 percentage points year-on-year [6]. Brand Development - Core brands such as Yuze and Liushen have shown strong performance, driving the company's revenue rebound [7][10]. - Yuze has undergone a comprehensive upgrade in brand image and product formulation, resulting in significant sales growth shortly after the launch of new products [8][9]. Research and Development - In 2024, Shanghai Jahwa invested 179 million yuan in R&D, representing 3.16% of revenue, and secured 73 new patents, marking a 55% increase from the previous year [11]. - The company is focusing on innovative research methods and collaborations with academic institutions to enhance product development and safety [12][13].