Core Viewpoint - The article discusses the recent developments in the domestic beauty market, highlighting the completion of a Series B funding round for HuazhiXiao, led by domestic beauty giant Proya, and the strategic shifts among the top ten domestic beauty companies as they seek new growth avenues amid a slowing market [3][4]. Group 1: Financial Performance of Top Domestic Beauty Companies - Proya, Shangmei, and Shanghai Jahwa ranked as the top three domestic beauty companies, with Proya achieving a revenue of 5.362 billion yuan in the first half of the year, surpassing half of last year's total revenue [5][6]. - Shangmei's revenue grew by 17.3% year-on-year to 4.108 billion yuan, with net profit increasing by 34.7% [5][6]. - The top ten domestic beauty companies saw eight achieve revenue growth, and seven companies reported positive net profit growth, indicating a robust overall performance [6][8]. Group 2: Strategic Shifts and Market Positioning - The top domestic beauty companies are rapidly building multi-brand matrices and advancing overseas strategies to adapt to the slowing domestic market [3][4]. - Proya's skincare segment remains dominant, while its hair care and color cosmetics categories have shown significant growth, with hair care growing by 131.25% and color cosmetics by 25.79% [11]. - Shangmei's main brand, Han Shu, generated 3.344 billion yuan in revenue, while its new brand, newpage, focusing on children's skincare, achieved a remarkable 146.5% growth [14][16]. Group 3: International Expansion and Investment Strategies - Proya aims to enter the top ten global cosmetics companies by 2035, targeting a revenue of at least 50 billion yuan, and is actively pursuing international market opportunities [22][23]. - The investment in HuazhiXiao is a strategic move for Proya to enhance its multi-brand strategy and recognize HuazhiXiao's global potential [23]. - Water Sheep Co. is also focusing on international expansion, with a goal to become a global luxury beauty brand management group, launching a "10+3" global strategy [26][28]. Group 4: Challenges and Future Outlook - The domestic beauty market is facing challenges such as slowing growth and increased competition, prompting companies to seek international opportunities to escape price wars [29]. - Companies that possess product originality, brand narrative capabilities, and cross-market operational efficiency are more likely to transition from "Chinese leaders" to "global players" [29].

证券之星消息，9月3日化妆品板块较上一交易日下跌1.93%，嘉亨家化领跌。当日上证指数报收于 3813.56，下跌1.16%。深证成指报收于12472.0，下跌0.65%。化妆品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 837023 | 芭薇股份 | 20.17 | 2.86% | 7.00万 | | 1.39亿 | | 603630 | 拉芳家化 | 28.35 | 2.46% | 17.18万 | | 4.96亿 | | 603983 | 丸美生物 | 39.98 | 1.14% | 3.27万 | | 1.31亿 | | 600315 | 上海家化 | 26.38 | -1.68% | 11.86万 | | 3.16亿 | | 300957 | 贝泰妮 | 45.73 | -2.22% | 4.21万 | | 1.94亿 | | 600223 | 福瑞达 | 7.79 | -2.26% | 11.33万 | 8918.22万 | | | 6036 ...

Overview - The increasing national income level has led to a heightened focus on personal hygiene and skin health among consumers, resulting in a growing demand for functional and personalized bathing products. Traditional products with a single function of "cleansing + moisturizing" are becoming less favored, while diverse needs such as "fragrance experience," "skin repair," and "emotional therapy" are becoming mainstream [1][14] - The Chinese shower gel market is undergoing structural differentiation, with emotional fragrance shower gels meeting consumers' self-expression and emotional regulation needs, while efficacy-based products target specific skin issues like oil control, whitening, and sensitive skin care. Both types are major drivers of market growth [1][14] - In 2024, the total sales of shower gels in China are projected to reach 13.052 billion yuan, a year-on-year decrease of 1.62%. Despite the decline, the drop is less than the overall market, indicating a trend towards rational and fundamental consumption in the shower gel market [1][14] Market Policies - The Chinese government places significant emphasis on the development of the cosmetics industry, including shower gels, and has issued a series of policies aimed at improving production quality, safety, and regulatory compliance. These policies create a favorable environment for the development of the shower gel industry [8] Industry Chain - The shower gel industry consists of an upstream supply chain that includes raw material suppliers (surfactants, soap bases, moisturizers, fragrances, thickeners) and packaging material suppliers. The midstream comprises manufacturing enterprises, while the downstream includes various sales channels such as supermarkets, specialty stores, and e-commerce platforms [10] Consumer Insights - Female consumers dominate the shower gel market in China, accounting for over 60% of consumption. They are often the primary decision-makers in household purchases. Over 90% of consumers prioritize product efficacy, with key considerations including moisturizing, whitening, and antibacterial properties, followed by ingredient safety and natural formulations [12][13] Competitive Landscape - The Chinese shower gel market is highly competitive, featuring numerous participants, including international brands like Dove and Lux, as well as domestic brands like Six God and Lafang. The top 10 brands account for over 50% of the market share, with Six God holding the largest share [14][15] - Shanghai Jahwa, a long-established player in the personal care industry, reported a total revenue of 5.679 billion yuan in 2024, with a gross profit of 3.271 billion yuan and a gross margin of 57.60% [15] - Lafang, established in 2001, achieved a total revenue of 889 million yuan in 2024, with its personal care segment contributing 778 million yuan, representing 87.57% of total revenue [16] Future Trends - The demand for functional shower gels is expected to rise, with products targeting specific skin issues gaining popularity. There will be a trend towards multifunctional products that combine cleansing, moisturizing, fragrance, and mild sun protection. Additionally, as consumers become more health and environmentally conscious, there will be a preference for natural, organic, and additive-free shower gels containing plant extracts and essential oils [17]

Core Insights - The baby and child care market is specifically designed for children aged 0-12 years, focusing on cleaning, skincare, and care products [2][4] - The Asia-Pacific region is the largest market globally, accounting for 41% of the market share, driven by population advantages and rapid economic development [5][6] - China's baby and child care market is rapidly growing, with the market size expected to increase from 27.42 billion yuan in 2021 to 32.9 billion yuan in 2024 [5][6] Industry Definition and Classification - Baby and child care products include categories such as shampoo, bath products, skincare, oral care, sunscreen, and mosquito repellent, designed with a focus on the physiological characteristics of infants [2][4] - Products are classified by function (cleaning, skincare, oral care, etc.), dosage form (liquid, cream, foam, solid), age group (newborns, toddlers, children), and market positioning (mass, mid-high end, premium) [4][6] Current Market Status - The global baby and child care market is experiencing steady growth, projected to rise from 13.06 billion USD in 2021 to 14.48 billion USD in 2024, with expectations to surpass 15 billion USD by 2025 [6][8] - In China, the market is expected to reach 35.86 billion yuan by 2025, with body care products holding a significant share [5][6] Industry Chain - The upstream of the industry includes raw materials like oils, emulsifiers, surfactants, and packaging materials, while the midstream focuses on product development, production, and brand operation [6][8] - The downstream sales channels include mother-baby stores, supermarkets, pharmacies, e-commerce, and medical institutions, primarily targeting millennial parents [6][8] Development History - The baby and child care industry in China has evolved through several stages, including the introduction of international concepts in the 1990s and the rise of domestic brands [8][9] Competitive Landscape - The Chinese market features a mix of international and domestic brands, with local brands gaining market share in recent years [9][10] - In 2024, international brands are expected to account for 40% of the market, while domestic brands will hold 60% [9][10] Industry Trends - The industry is expanding due to factors such as consumer upgrades, the popularization of scientific parenting concepts, and stricter regulatory policies [10] - The market is moving towards age-specific care and sustainable practices, with an increasing share for domestic brands [10]

Core Viewpoint - The article discusses the initiatives and events organized by the China Fragrance and Cosmetic Industry Association to promote safety in cosmetic use and enhance the industry's global standing through media collaboration and scientific communication [4][12]. Group 1: Events and Initiatives - The 2025 Safety Cosmetic Use Science Promotion Week will take place from September 1 to 7, with the theme "Safe Use of Cosmetics, Science to Safeguard" [5]. - The China Fragrance and Cosmetic Industry Association aims to strengthen public awareness of safe cosmetic use and establish a new social governance model [5][12]. - The association's annual media collaboration meeting focuses on building a better media cooperation ecosystem and enhancing scientific communication within the industry [14][17]. Group 2: Key Activities - The first execution plan for the Safety Cosmetic Use Science Promotion Week includes a "Full Media Science Promotion Action" with activities such as expert-written articles and engaging multimedia content [10]. - The second plan involves a "Consumer Safety Use of Cosmetics Public Welfare Action," encouraging companies to showcase their green and sustainable development practices [11]. - The third plan, "Green Action: Empty Bottle Recycling," aims to set up around 300 recycling points nationwide and promote consumer participation in sustainability efforts [11]. Group 3: 2025 CAME Highlights - The 2025 China Fragrance and Cosmetic Industry Annual Conference and Boutique Expo (2025 CAME) will be held from September 25 to 27 in Nanjing, focusing on "Technology and Brand Co-Progress" [21][23]. - The expo will feature over 115 exhibitors and more than 500 brands, showcasing innovations in the industry, including biotechnological advancements and sustainable packaging [25][27]. - The event will also host numerous thematic conferences, inviting over 100 influential guests to discuss key industry topics, enhancing the exchange of ideas and collaboration [28][30].

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300886 | 华/香料 | 31.55 | -4.05% | 4.66万 | 1.48亿 | | 002094 | 青岛金王 | 8.37 | -2.90% | 39.15万 | 3.30亿 | | 603983 | 丸美生物 | 39.53 | -2.42% | 2.80万 | 1.11亿 | | 300856 | 科恩股份 | 14.29 | -2.12% | 7.17万 | 1.03亿 | | 301371 | 敷尔佳 | 25.87 | -2.12% | 2.99万 | 7750.12万 | | 300957 | 贝泰妮 | 46.77 | -1.78% | 4.40万 | 2.07亿 | | 603605 | 甜菜雅 | 83.36 | -1.27% | 7.42万 | 6.19亿 | | 600315 | 上海家化 | 26.83 | -1.07% | 9.49万 | 2.54亿 | | 600223 | 福瑞达 | 7.97 | ...

证券之星消息，9月1日化妆品板块较上一交易日上涨0.56%，拉芳家化领涨。当日上证指数报收于 3875.53，上涨0.46%。深证成指报收于12828.95，上涨1.05%。化妆品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603630 | 拉芳家化 | 26.97 | 9.99% | 11.40万 | 3.00亿 | | 300955 | 嘉亨家化 | 32.81 | 3.01% | 17.93万 | · 5.91亿 | | 300886 | 华业香料 | 32.88 | 2.62% | 5.85万 | 1.90亿 | | 002094 | 青岛金王 | 8.62 | 1.41% | - 30.59万 | 2.64亿 | | 300849 | 锦盛新材 | 12.79 | 1.35% | 3.35万 | 4283.66万 | | 300132 | 青松股份 | 6.53 | 1.24% | 30.47万 | 1.97亿 | | 603605 | 班莱雅 | 84.43 ...

中经记者 钟楚涵 孙吉正 上海报道 线上渠道的难题 改革效果显现 在品牌的规划上，林小海此前将上海家化的品牌划为三个梯队，将玉泽、六神作为第一梯队品牌，将佰 草集、美加净作为第二梯队品牌，其余则为第三梯队品牌。林小海当时认为，佰草集、美加净两个品牌 的知名度非常高，品牌资产也有积累，但是品牌定位比较模糊，需要更长的时间复盘它的目标用户，甚 至要重新定义品牌的品类定位。因此将这两个品牌划分为第二梯队。 而在今年上半年，佰草集品牌同比增长50%以上。随着佰草集的增长，林小海对于佰草集品牌的看法已 经发生了变化。而在业绩沟通会上，林小海向包括《中国经营报》在内的媒体记者表示："对于佰草集 品牌，我们需要有更多的时间去重新定义用户和品牌价值。在今年上半年，佰草集是一匹黑马，从所有 品牌中跑出来。其中，佰草集大白泥成为上海家化线上破亿的第一个单品。大白泥产品带动了佰草集品 牌的整体发展，我们认为大白泥产品未来具备想象空间。" 另外，上海家化在佰草集品牌的价格线上做出了调整。林小海表示："我们在去年'双11'的时候把佰草 集的太极系列进行了调价，当时定价在300多块钱。因为对比我们的核心竞争对手，我们的知名度和品 牌形象 ...

Core Viewpoint - The functional skincare industry in China is experiencing a rise of domestic brands, with various listed companies involved across the supply chain, including raw materials, packaging, and sales channels [1][2]. Group 1: Industry Overview - Functional skincare products are designed to address specific skin issues and possess certain pharmacological effects, indicating a growing market for targeted skincare solutions [1]. - The industry is characterized by a diverse range of companies, from raw material suppliers to online and offline sales channels [2]. Group 2: Company Distribution - Key companies in the raw materials segment include Kesheng Co., Qingsong Co., and Xinhang New Materials, while packaging material companies include Jiaheng Household and Jinsong New Materials [2][3]. - Major players in the functional skincare segment include Betaini, Huaxi Biological, Shanghai Jahwa, and Chuang'er Biological, with significant online sales channels represented by Alibaba, JD.com, and Pinduoduo [2][4]. Group 3: Financial Performance - Betaini leads the industry with a revenue of 57.36 billion yuan in 2024, followed by Huaxi Biological with 53.71 billion yuan and Shanghai Jahwa with 56.79 billion yuan [6][18]. - The gross profit margins for most companies in the functional skincare sector range from 70% to 85%, with Juzhi Biological achieving the highest margin at 82.09% [17][18]. Group 4: Business Strategies - Companies are focusing on R&D innovation, brand enhancement, and channel optimization to capture more market share and adapt to competitive pressures [19]. - Betaini plans to enhance its product offerings in the baby skincare segment and expand its online and offline presence, while Huaxi Biological is shifting towards anti-aging strategies and enhancing its technological capabilities [20][19]. Group 5: Market Positioning - Betaini has a dominant market position with 99.49% of its business in functional skincare, primarily targeting the Chinese market [16]. - Huaxi Biological and Shanghai Jahwa have also established strong brand identities with competitive product lines, while Chuang'er Biological focuses on collagen products [14][16].

Group 1 - The cosmetics sector increased by 1.05% on August 29, with Jiaheng Jiahua leading the gains [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] - Jiaheng Jiahua's stock price rose by 20.01% to 31.85, with a trading volume of 138,900 shares and a transaction value of 434 million yuan [1] Group 2 - The cosmetics sector saw a net inflow of 10.35 million yuan from institutional investors, while retail investors contributed a net inflow of 88.15 million yuan [2] - Major stocks in the sector experienced varied capital flows, with Jiaheng Jiahua having a net inflow of 76.21 million yuan from institutional investors [3] - Shanghai Jiahua had a net inflow of 35.86 million yuan from institutional investors, but a net outflow of 51.01 million yuan from retail investors [3]