Park Ha is a small Chinese skincare brand targeting women with sensitive and problematic skin. The company sells roughly 70 products across 10 series, covering moisturizing, anti-aging, acne care, and brightening, with signature products including the "Little Blue Injection Serum" and freeze-dried powder serums using peptide-based formulations. Park Ha does not manufacture its own products — it outsources production entirely to third-party manufacturers who also own the product formulas, meaning competitors could engage the same manufacturers to produce similar products. Park Ha generates revenue two ways: product sales (wholesale to franchisees and direct-to-consumer through its own stores and online channels) and annual franchise fees. Franchisees pay fees ranging from RMB 100,000 to RMB 2M to operate Park Ha-branded stores and buy inventory from Park Ha on a per-order basis. Park Ha operates five directly owned stores in Wuxi, Jiangsu Province, and sells online through Douyin, RED, WeChat, and Meituan. As of late FY25, the franchise network had contracted to 22 franchisees, down from 45 a year earlier, with 16 of those concentrated in Jiangsu Province. Going forward, Park Ha plans to expand its directly operated store footprint, invest in peptide-based R&D, rebuild its franchise network, and potentially acquire supply chain partners or manufacturers to improve margins.