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GF

2026-11-06 · Shanghai Jahwa annual reports 2023-2025
CategoryMen's Care
Founded1992
HeadquartersShanghai
ListingNot separately listed; part of Shanghai Jahwa (600315.SH)
Latest revenueParent Shanghai Jahwa FY2025 revenue RMB 6.32bn, net profit RMB 268m
Hero SKUsOil-Control Face Wash / Men's Toner

Brand History

Launched by Shanghai Jahwa in 1992, GF is one of China's earliest dedicated men's skincare brands. When it appeared, 'for men' barely existed as a concept domestically; GF built on oil control and freshness, entering through cleansers, toners and creams and seeding its first users in supermarkets and CS stores.

Over the following two decades the men's category grew from nothing, with international players such as L'Oreal Men and Nivea Men plus local challengers arriving. GF's edge was channel and price: Jahwa's supermarket network and RMB 30-120 pricing reached mass male consumers. Jahwa's 'four focuses' reform lifted 2025 group revenue to RMB 6.32bn with net profit of RMB 268m, returning to profit; GF's own revenue is not disclosed separately.

Hero Products

Oil-Control Face WashThe most classic SKU, daily cleansing for oily skin.
Men's TonerAn astringent toner used after cleansing.
Men's CreamA light moisturiser avoiding heavy texture.
After-Shave CareSoothing post-shave products, a signature men's category.

Three-Year Financials

YearRevenue (RMB bn)YoYNet profit (RMB bn)
202365.98-7.2%5.00
202456.79-13.9%1.15
202563.17+11.25%2.68
Scope:Group level (Shanghai Jahwa); GF is not reported separately
Brand-level:Shanghai Jahwa does not break out GF. In 2025 it highlighted three hero SKUs from Herborist, Yuze and Liushen above RMB 100m GMV each; GF was not in the disclosure.
Source:Shanghai Jahwa annual reports 2023-2025

Company Coverage

EDITOR'S NOTE

Observation: GF's problem is not product but generational fracture — its core users are men over 30, while those in their twenties lean toward international men's brands or newer domestic labels. Jahwa's channel capability remains, but men's care needs a new content language; supermarket shelves alone will not reach younger consumers.

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