The first stock in efficacy skincare, BTN, continues to show resilient growth, with a projected revenue of 5.74 billion yuan in 2024. The sub-brand Winona Baby maintains a high growth trend, while the new high-end line Aikeman breaks through against the trend with a remarkable increase of 65.59%. By stabilizing the core, strengthening new stars strategy, and maintaining the highest investment in domestic beauty product research and development, it continues to build a strong long-term value chain upward