【正文】 JF 0 32 2 0 ml ( 浴后乳液） 1 0 8 ml （鮮奶乳液） 1 1 0 mlBody Lotion Basic Base 108ml 6 7 8 9 7 8 8 7 11 11 12 11 9 220ml 7 8 8 10 7 8 7 8 9 10 10 9 8 Weighted Distribution () () Copyright 2023 ACNielsen 13 . Body Lotion Basic Share Distribution By Market Yu Mei Jing Mainly Focus In Hebei / Shangxi / Shangdong 4M to JF02 4M to JF03 JF 02 JF 03 National YMJ 108ml 8 9 220ml 7 8 N2 YMJ 108ml 6 12 16 220ml 9 12 N A City YMJ 108ml 23 30 220ml 26 30 Volume Share Weighted Distribution Copyright 2023 ACNielsen 14 Body Basic Lotion, Sales Mix Growth By City Quick Development of Body Basic Lotion Traced to Key A Cities 1961922932833802064 M t o JF 0 2 4 M t o JF 0 3T o w n BC D C i t i e s A C i t e i s 4 C i t i e s22634 2921636521451423220333125317 220514 M o n t h s t o JF 0 2 4 M o n t h s t o JF 0 3T o w n BC D C i t i e s A C i t e i s 4 C i t i e sVolume Sales(Ton) Value Sales(000Rmb) 24% 13% 34% 24% 52% 29% 5% 13% ?Number in green is of the annual growth MAT JF03 vs MAT JF02 Copyright 2023 ACNielsen 15 Body Basic Lotion, Key Brands Share by City We Lost Share to Bai Que Ling Small Brands in Key Cities and Yu Mei Jing in A Cities YU MEI JING 25 4 BAI QUE LING HAI ER MIAN 2 5 XILI 0 6 GONG DENG 0 0 2 XIAN ZI 4Months to JF03 chg YA JF02 chg YA JF02 chg YA JF02 chg YA XX VASELINE NIVEA SOFTSENSE A City BCD City 4 City National Volume Base Body Lotion Basic Base Copyright 2023 ACNielsen 16 Body Basic Lotion, Key Brands Share by City Our Share Gains in BCD Cities Helped Us to Narrow Overall Share Lost Value Base Body Lotion Basic Base YU MEI JING 8 5 BAI QUE LING 1 PEARS 1 FA TOBABY XILI 0 0 XX VASELINE 4 NIVEA 1 SOFTSENSE 4Months to JF03 chg YA JF02 chg YA JF02 chg YA JF02 chg YA A City BCD City 4 City National Copyright 2023 ACNielsen 17 Summary ? Total Skin Moisturizer experienced faster growth rate in this winter with positive price inflation 6% in volume and 9% in value ? Accelerated growth rate had been captured in all segments, esp. In Facial and Hand, which both experienced higher value growth than volume growth ? Body also captured positive volume growth (11%), but its value growth was much lagged behind (7%) in recent winter Copyright 2023 ACNielsen 18 Summary Body ? With Body, Lotion still obtained outstanding growth with growth rate of 26% in volume and 17% in value。 but cream declined which led to a slower growth rate in total body ? The price deflation in Body Lotion mainly traced to basic Body Lotion, where local brands, like Bai Que Ling and Yu Mei Jing, developed fast ? Overall, XX did captured positive growth in recent winter period and Milk largely contributed to our growth Copyright 2023 ACNielsen 19 Summary Body ? But we still slightly lost share in Body market in recent winter due to slower growth than the market, especially in the Basic Body Lotion segment ? In Basic Body Lotion segment, we lost share to Bai Que Ling and small brands in Key cities and Yu Mei Jing in A cities。 But our distribution expansion led to our share gains in BCD cities, which narrowing our overall share lost Copyright 2023 ACNielsen 20 Summary Body ? Overall speaking, XX is still the absolute leader in the Basic Body Lotion segment in value terms。 but development of lowend brands, like BQL and YMJ, in Key A cities, suggesting emergence of new market needs Copyright 2023 ACNielsen XX Milk Sales Development In 4A Cities Copyright 2023 ACNielsen 22 Milk Sales Contribution To XX By City Milk Helped XX to Increase Sales In A City。 but Not In SH/BJ Volume(TON) Value(000rmb) 020406080100120J F0 2 J F0 3 J F0 2 J F0 3 J F0 2 J F0 3 J F0 2 J F0 3 J F0 2 J F0 34 Months to 04 , 0 0 08 , 0 0 01 2 , 0 0 01 6 , 0 0 0J F0 2 J F0 3 J F0 2 J F0 3 J F0 2 J F0 3 J F0 2 J F0 3 J F0 2 J F0 34 Months to UC Lotion Milk Lotion GZ SH BJ CD A CITY Copyright 2023 ACNielsen 23 Milk Share Contribution To XX Basic Lotion Stagnant in Sales in SH BJ and Lagged Behind Growth in A Cities Caused Us Losing Share Volume Share Value Share 0102030405060JF 0 2 JF 0 3 JF 0 2 JF 0 3 JF 0 2 JF 0 3 JF 0 2 JF 0 3 JF 0 2 JF 0 3UC Lotion Milk Lotion Share Base, Body Lotion Basic GZ SH BJ CD A CITY 010203040506070JF 0 2 JF 0 3 JF 0 2 JF 0 3 JF 0 2 JF 0 3 JF 0 2 JF 0 3 JF 0 2 JF 0 34 Months to 4 Months to Copyright 2023 ACNielsen 24 SHH/S, XX Lotion Variant SKU Share Milk 200ml Gained Share Rapidly While Reg/UC 200ml Declined Value Share(Body Lotion Basic Base) 4M to JF02 4M to JF03 Chg YA ND01 JF02 ND02 JF03 Chg YA XX Basic Lotion 28 MILK 200ml 3 REG LOTION 100ml 1 200ml 3 300ml UC LOTION 100ml 200ml 11 Copyright 2023 ACNielsen 25 SHH/S, XX Lotion SKU Dist. SPPD Milk200ml Gained Distribution With Good Instore Per