Reliance on E-commerce Platforms Risk: The company's significant reliance on major third-party e-commerce platforms like Tmall and JD.com exposes it to risks from changes in platform policies, increased commission fees, or intensified competition for visibility on these platforms.

Intense Market Competition Risk: The beauty and health product market in China is highly fragmented and competitive, requiring continuous investment in product development, marketing, and brand building to maintain or grow market share against numerous domestic and international brands.

Product Innovation and Trends Risk: Failure to anticipate, respond to, or set rapidly evolving consumer preferences and market trends for beauty and health products could lead to decreased demand, reduced sales, and loss of competitive advantage.