Lafang Jiahua has reported its first annual loss since listing in 2017. The Chinese daily chemical group posted 2025 revenue of RMB 818 million, about $112 million, down 7.92% year on year, while net loss attributable to shareholders reached RMB 31.15 million, about $4.3 million.
Offline Weakness Weighs on Sales
Hair care remained Lafang Jiahua’s core business in 2025, generating RMB 752 million, about $103 million, equal to 91.85% of revenue. The Lafang and Yujie brands together contributed RMB 762 million, about $104 million, accounting for 93.06% of total revenue.
Offline distribution remained the company’s main channel, producing RMB 540 million, about $74 million, or 65.97% of total revenue. That channel fell 13.36% year on year, while e-commerce and other channels rose 4.67% to RMB 277 million, about $38 million.
Spending Shift Adds Pressure
Selling expenses increased 6.15% to RMB 300 million, about $41 million, as the company stepped up online and offline advertising. Over the same period, research and development spending fell 22.63% to RMB 32.19 million, about $4.4 million.
For Dewsia readers, the results suggest legacy domestic beauty groups with heavy offline exposure are facing a harder adjustment path, particularly when core growth still depends on mature hair care lines rather than broader category momentum.
