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Shanghai Jahwa United Co., Ltd

Shanghai Jahwa United Co., Ltd. (SH.600315) is one of the time-honored national enterprises in China’s daily cosmetics industry. Its predecessor, Kwong Sang Hong, was founded in Hong Kong in 1898. The company was listed on the Shanghai Stock Exchange in 2001, making it the first listed company in China’s domestic cosmetics sector.

In 2011, Shanghai Jahwa took the lead in implementing shareholding system reform among Shanghai’s state-owned enterprises and transformed into a mixed-ownership enterprise, with Ping An Insurance (Group) Company of China, Ltd. becoming its controlling shareholder.

After years of development, Shanghai Jahwa has grown into a multinational daily cosmetics company headquartered in Shanghai. In 2025, the company achieved operating revenue of 6.32 billion yuan. It employs more than 3,000 people worldwide, operates two major science and innovation centers and five production bases, and boasts world-leading R&D and manufacturing capabilities. Its sales network covers Asia, Europe, Africa, North America and Oceania.

Corporate Strategy

Shanghai Jahwa implements a business strategy of Focusing on Core Brands, Focusing on Brand Building, Focusing on Online Channels, and Focusing on Operational Efficiency. It comprehensively promotes the upgrading of brand and channel strategies, continuously optimizes operational efficiency, and lays a solid foundation for long-term high-quality development.

In terms of focusing on core brands, the company concentrates resources on core brands and promising segmented categories. In 2025, it successfully cultivated three 100-million-yuan level star products: the newly upgraded Liushen Mosquito Repellent Egg, the second-generation Yuze Barrier Repair Series Cream, and Herborist New Qibai Whitening Mud Mask (Big White Mud). It also officially established a 100-million-yuan Star Product Club, building a sustainable product growth ecosystem.

In terms of focusing on brand building, the company increased brand investment and comprehensively upgraded brand positioning and marketing strategies. Core brands such as Liushen, Yuze and Herborist maintained leading positions, while other brands were also revitalized and upgraded. This strengthened consumer brand awareness and significantly improved brand competitiveness and influence.

In terms of focusing on online channels, Shanghai Jahwa vigorously promoted the development of online business and built a collaborative matrix of key influencer livestreaming and in-house livestreaming, which has become the core engine of growth. In 2025, several Herborist key influencer livestreaming sessions achieved GMV of over 10 million yuan. The in-house Douyin livestreaming businesses of Herborist, Yuze and Liushen all achieved remarkable growth, with GMV increasing by 249.9%, 130.8% and 91.2% year-on-year respectively.

In terms of focusing on efficiency improvement, Shanghai Jahwa strengthened product and personnel efficiency management, driving cost reduction in the supply chain, production capacity improvement and product efficiency optimization. In 2025, the logistics expense ratio decreased by 1.26 percentage points, and the domestic inventory turnover days decreased by 10 days. Meanwhile, the company deepened the reform of the business unit system, promoted the simultaneous upgrading of assessment and long- and short-term incentive mechanisms, effectively improved organizational efficiency, and provided strong endogenous impetus for the performance turnaround.

Research and Manufacturing

As a national-level enterprise technology center, national-level industrial design center, and national intellectual property model enterprise, Shanghai Jahwa has always taken scientific and technological innovation as its strategic core. Closely aligning with consumer demands and brand positioning, the company has built a dual-wheel-driven model of “independent internal R&D plus industry-university-research-hospital collaborative innovation”, deepened cutting-edge technological research and the transformation of achievements, and continuously consolidated its leading position in the industry.

In terms of strategic layout and raw material innovation, Shanghai Jahwa Innovation Center – Synthetic Biology was officially inaugurated in March 2025. Throughout the year, the company completed the registration of 3 new raw materials, including Cyclic Dipeptide-1, Osmundacetone, and Vinegar Pei Pei Lu Extract. In equipment R&D, it independently developed AGEScan Lite, the first skin glycation level tester in China, filling the gap in domestic cosmetic efficacy testing equipment. In the construction of patents and standard systems, in 2025 the company obtained 73 new authorized patents, filed 130 patent applications, published 15 foreign journal papers (with an average impact factor of over 7.3), and participated in the formulation, revision and release of 6 national/industrial standards and 14 group standards. By the end of 2025, the company and its subsidiaries held a total of 483 valid authorized patents and had participated in the formulation and revision of 158 standards in total. Shanghai Jahwa has not only set an industry benchmark with professional innovation, but also promoted the standardization of the industry.Shanghai Jahwa owns five manufacturing bases worldwide, namely the Shanghai Qingpu Kuayue Factory, Hainan Factory, Dongguan Factory, as well as factories in Morocco, Africa and the United Kingdom, Europe, with a total annual global production capacity of over 800 million units. Among them, the Shanghai Qingpu Kuayue Factory has an investment of nearly 1.2 billion yuan, a construction area of about 100,000 square meters, and an annual production capacity of 700 million units, specializing in the production of skin care, personal washing and perfume products. The Hainan Factory specializes in producing Liushen toilet water with an annual capacity of nearly 100 million units. The three factories in Dongguan, Morocco and the UK focus on manufacturing Tommee Tippee maternal and infant products.

Corporate Certifications and Honors

In recent years, Shanghai Jahwa has been awarded numerous national and municipal honors. The company has been recognized as a “National High-Tech Enterprise” by the Ministry of Science and Technology, the Ministry of Finance, and the State Taxation Administration for 23 consecutive years. It has been accredited as a “National Enterprise Technology Center” by the National Development and Reform Commission, the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration.

It has also received titles from the Ministry of Industry and Information Technology, including “Pilot Enterprise for Ecological Design and Green Manufacturing”, “National Green Factory”, “National Industrial Design Center”, and “Demonstration Enterprise for Green Design of Industrial Products”. It has been honored as a “National Intellectual Property Demonstration Enterprise” by the China National Intellectual Property Administration, and named in the "100+ Smart Factories" by the Shanghai Municipal Commission of Economy and Informatization.

In addition, the company hosts a “National Postdoctoral Research Station”accredited by the Ministry of Human Resources and Social Security, as well as a “Shanghai Academician and Expert Workstation”approved by the relevant authority in Shanghai.

Sustainable Development

In 2021, Shanghai Jahwa took the lead in introducing the ESG (Environmental, Social and Governance) management model in the industry. The company has firmly upheld the philosophy of “Born for Beauty, Striving for Goodness”. As an ESG benchmark in the industry, Shanghai Jahwa has gained high external recognition.

It achieved an “A rating” from MSCI*, a renowned international ESG rating agency, an “AA rating” in the Wind ESG rating, and a “B rating” in the CDP Climate Change assessment. Its ESG ratings rank among the leading levels in the domestic industry, driving the sustainable development of the sector.

Shanghai Jahwa also actively responds to national policies by issuing the *White Paper on Medium and Long-term ESG Planning* and establishing a governance system for sustainable development.

*Note: MSCI ESG rating is as of the end of 2023 and has not been updated since.

As a leading enterprise in China's daily cosmetics industry, Shanghai Jahwa will continue to create a beautiful and healthy life for consumers with its iconic brands and high-quality products in the future, striving to become a world-class daily cosmetics company rooted in China and reaching globally.