| Category | Hair Care |
| Founded | 2001 |
| Headquarters | Shantou, Guangdong |
| Listing | Listed on the Shanghai Stock Exchange (Lafang Home Care, 603630.SH, 2017) |
| Latest revenue | FY2025 group revenue RMB 818m with a net loss of RMB 31m |
| Hero SKUs | Nourishing Shampoo |
Brand History
Founded in Shantou in 2001, Lafang became a national shampoo brand in the 2000s on the slogan 'Love life, love Lafang'. Its playbook was classic deep distribution: county-level dealer networks covering lower-tier markets, large family-size bottles and TV advertising, at one point sharing shelves with Rejoice and Head & Shoulders.
In 2017 Lafang Home Care listed on the Shanghai Stock Exchange as 'the first domestic hair-care stock'. The story since has been hard: its lower-tier channels were disrupted by e-commerce and community group buying, while acquisitions and agency deals for overseas brands failed to lift revenue beyond the RMB 800-900m band. In 2025 revenue fell 7.9% to RMB 818m with a net loss of RMB 31m — the first annual loss since listing — even as the Lafang brand grew 2.47% and signed as official partner of the Chinese national diving team, bringing in athletes such as Quan Hongchan to refresh the image.
Hero Products
Three-Year Financials
| Year | Revenue (RMB bn) | YoY | Net profit (RMB bn) |
|---|---|---|---|
| 2023 | 8.60 | — | 0.65 |
| 2024 | 8.89 | +3.4% | 0.41 |
| 2025 | 8.18 | -7.9% | -0.31 |
Brand-level：The Lafang brand generated RMB 657m in 2025, up 2.47%, and with Yujie accounted for 93.06% of revenue; distribution was 65.97% of sales and e-commerce 33.88%. 2025 marked the company's first annual loss since listing.
Source：Lafang Home Care FY2025 annual report (Apr 2026); company filings
Company Coverage
- 2026-04First loss since listing
FY2025 revenue fell to RMB 818m with a RMB 31m net loss, while the Lafang brand grew 2.47%.
Source：Annual report - 2025-09National diving team deal
Lafang became an official partner of China's national diving team with athletes including Quan Hongchan.
Source：Company release - 2025-06Peptide repair technology
The company launched 6th-generation peptide hair-core repair and a self-developed ingredient.
Source：Company materials
Editor's note: Lafang is a case where channel assets outweigh brand assets. Its dealer network still delivers 60% of revenue, but young consumers barely recognise the name. Signing the national diving team is the right move — it re-anchors the brand in the 'national' register; the harder task is shelf upgrade: before a RMB 20 brand can sell a RMB 40 product, the channel has to believe it first.