Core Insights - The beauty and personal care industry experienced a net capital outflow of 238 million yuan today, with a decline of 1.51% in the sector [1] - Among the 29 stocks in the beauty and personal care sector, 5 stocks rose while 23 stocks fell, indicating a predominantly negative market sentiment [1] Capital Flow Summary - The top three stocks with the highest net capital outflow are Shanghai Jahwa, Zhongshun Jierou, and Shuiyang Co., with outflows of 615.02 million yuan, 582.59 million yuan, and 316.92 million yuan respectively [1] - The stock with the highest net capital inflow is Baiya Co., with an inflow of 6.32 million yuan, followed by Marubi Biological and Liangmian Needle, with inflows of 5.55 million yuan and 3.15 million yuan respectively [1] Stock Performance - Shanghai Jahwa saw a significant decline of 9.43% with a turnover rate of 4.43% and a net outflow of 615.02 million yuan [1] - Zhongshun Jierou and Shuiyang Co. also experienced notable declines of 8.74% and 1.65% respectively, with substantial net outflows [1]

在2025年的化妆品新原料备案名单中，"植物愈伤组织"成为了一个频繁出现的关键词。 短短数月间，已有多款以雪莲花、昙花、牡丹、华白及等为代表的愈伤组织提取物完成国家药监局备案，背后涉及的企业既有水羊股份、花皙蔻、谷雨等 知名国货，也有未名拾光、百岳特等上游创新企业。 长期以来，珍稀植物因生态限制与资源稀缺，难以实现稳定供应；传统植物提取方式也面临批次差异、农残风险与可持续性困境。如今，植物愈伤组织技 术通过体外细胞培养，实现了植物活性物的无土、可控生产，让濒危植物重获新生。 "每个植物的基因就像是一本传记，它讲了这个植物从出生到经历到死亡的整个过程。如果这个植物灭绝了，他的基因组从此就消失了，其中的珍稀活性 成分也会就此消失在历史的长河中。而植物愈伤组织技术给了我们机会去重现自然界的奇迹。"未名拾光联合创始人兼CSO陈家悦博士曾公开表示。 这不仅是一场原料革新，更是一场关于科技、生态与美的共鸣。当"绿色智造"成为行业关键词，从科研到品牌，愈伤组织技术正成为中国美妆产业的"新 质生产力"。 活跃于幕后的上游创新企业，是这轮备案潮的另一重推动力。 备案潮起，植物愈伤组织成分"热"起来了 2025年以来，植物愈伤组 ...

Core Insights - The cosmetics sector experienced a decline of 0.72% on October 22, with LaFang JiaHua leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Market Performance - Qingdao Jinwang (002094) saw a closing price of 7.88, with an increase of 2.74% and a trading volume of 561,300 shares, amounting to 450 million yuan [1] - Other notable performers included Kesheng Co. (300856) with a closing price of 13.88, up 1.46%, and Yusong Co. (300132) at 6.52, up 1.40% [1] - LaFang JiaHua (603630) closed at 22.55, down 1.83%, with a trading volume of 39,800 shares and a turnover of 90.79 million yuan [2] Capital Flow - The cosmetics sector experienced a net outflow of 12.29 million yuan from institutional investors and 12.90 million yuan from retail investors, while there was a net inflow of 25.19 million yuan from individual investors [2] - The capital flow for individual stocks showed that Qingdao Jinwang had a net inflow of 30.74 million yuan from institutional investors, while LaFang JiaHua had a net outflow of 7.07 million yuan [3] - Other stocks like Kesheng Co. and Yusong Co. also experienced varying degrees of net inflow and outflow from different investor categories [3]

Core Insights - The cosmetics sector experienced a slight decline of 0.03% on October 21, with Lafang Jiahua leading the drop [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Group 1: Stock Performance - Jinsheng New Material (300849) saw a significant increase of 7.74%, closing at 14.76 with a trading volume of 103,000 shares and a turnover of 148 million yuan [1] - Jiaheng Jiahua (300955) rose by 4.90%, closing at 30.62 with a trading volume of 45,700 shares and a turnover of 137 million yuan [1] - Qing Song Co. (300132) increased by 3.71%, closing at 6.43 with a trading volume of 266,600 shares and a turnover of 170 million yuan [1] - Lafang Jiahua (603630) declined by 2.67%, closing at 22.97 with a trading volume of 61,500 shares and a turnover of 141 million yuan [2] - Shanghai Jahwa (600315) fell by 1.85%, closing at 27.09 with a trading volume of 96,400 shares and a turnover of 262 million yuan [2] Group 2: Capital Flow - The cosmetics sector experienced a net outflow of 11.49 million yuan from institutional investors, while retail investors saw a net inflow of 19.36 million yuan [2] - The main capital inflow was observed in brands like Banlaya (603605) with a net inflow of 10.38 million yuan, while Jinsheng New Material (300849) had a net outflow of 11.78 million yuan [3] - Retail investors showed a significant net inflow in Furuida (600223) with 7.23 million yuan, while the outflow from institutional investors was 3.19 million yuan [3]

Core Viewpoint - Water Sheep Co., Ltd. has shown significant stock performance with a year-to-date increase of 77.84%, despite a slight decline of 0.17% in the last five trading days [1] Group 1: Stock Performance - As of October 20, Water Sheep's stock price reached 23.51 CNY per share, with a market capitalization of 9.169 billion CNY [1] - The stock has experienced a 6.04% increase over the last 20 days and a 43.70% increase over the last 60 days [1] - The company has appeared on the trading leaderboard once this year, with a net buy of 24.4889 million CNY on May 28 [1] Group 2: Financial Performance - For the first half of 2025, Water Sheep reported a revenue of 2.5 billion CNY, reflecting a year-on-year growth of 9.02%, and a net profit of 123 million CNY, up 16.54% [2] - Cumulative cash dividends since the A-share listing amount to 142 million CNY, with 77.8142 million CNY distributed over the past three years [3] Group 3: Shareholder Information - As of September 10, the number of shareholders for Water Sheep stood at 27,000, with an average of 13,296 circulating shares per person [2] - Notable new shareholders include BlackRock China New Horizons Mixed A and Hong Kong Central Clearing Limited, holding 2.6 million shares and 2.5239 million shares respectively [3]

Group 1 - The cosmetics sector experienced a significant increase of 3.35% on October 15, with Shuiyang Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] - Major stocks in the cosmetics sector showed notable price increases, with Shuiyang Co., Ltd. rising by 8.45% to a closing price of 25.03 [1] Group 2 - The net inflow of main funds in the cosmetics sector was 219 million yuan, while retail investors saw a net outflow of 222 million yuan [1] - Shanghai Jahwa's main fund net inflow was 85.02 million yuan, with a retail net outflow of 66.90 million yuan [2] - Shuiyang Co., Ltd. had a main fund net inflow of 46.76 million yuan, but a retail net outflow of 69.20 million yuan [2]

Group 1 - The beauty and personal care sector is experiencing significant growth, with Shanghai Jahwa reaching its daily limit increase [1] - Shuiyang Co., Ltd. has seen an increase of over 8% in its stock price [1] - Other companies such as Kesi Co., Jiaheng Jiahua, Jinbo Biotechnology, and Babi Co. are also witnessing stock price increases [1]

Core Insights - The cosmetics sector experienced a slight increase of 0.31% on October 14, with Shanghai Jahwa leading the gains [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] Company Performance - Shanghai Jahwa (600315) closed at 26.59, up 5.10%, with a trading volume of 102,700 shares and a transaction value of 270 million yuan [1] - Lafang (603630) closed at 24.65, up 4.05%, with a trading volume of 90,200 shares and a transaction value of 221 million yuan [1] - Qingdao Kingway (002094) closed at 7.97, up 1.92%, with a trading volume of 413,400 shares and a transaction value of 329 million yuan [1] - Other notable performers include Bawei (920123) at 17.83 (+1.54%) and Jinsong New Materials (300849) at 13.53 (+0.97%) [1] Fund Flow Analysis - The cosmetics sector saw a net outflow of 13.28 million yuan from institutional investors, while retail investors experienced a net outflow of 46.69 million yuan [2] - Conversely, speculative funds recorded a net inflow of 59.98 million yuan [2] Individual Stock Fund Flow - Shanghai Jahwa had a net inflow of 29.86 million yuan from institutional investors, while retail investors saw a net outflow of 24.90 million yuan [3] - Lafang recorded a net inflow of 21.89 million yuan from institutional investors, with retail investors experiencing a net outflow of 21.61 million yuan [3] - Qingdao Kingway had a net inflow of 16.80 million yuan from institutional investors, while retail investors saw a net outflow of 18.67 million yuan [3]

Investment Rating - The report gives a "Buy" rating for the cosmetics and medical beauty industry, particularly highlighting the potential of specific companies like Water Sheep Co., Ltd. [13] Core Insights - The cosmetics and medical beauty sector has underperformed the market recently, with the Shenwan Beauty Care Index rising by 1.3% from September 29 to October 10, 2025, which is lower than the overall market performance [3][4] - The upcoming Tmall Double 11 event is expected to boost sales, with domestic brands actively participating with competitive discounts [8] - Water Sheep Co., Ltd. is identified as a leading technology-driven beauty company, with stable revenue projections and improving profit margins [9][10] Summary by Sections Industry Performance - The cosmetics and medical beauty sector has shown weaker performance compared to the market, with the Shenwan Cosmetics Index increasing by 1.2%, lagging behind the Shenwan A Index by 0.4 percentage points [3][4] - The top-performing stocks in the sector include Jiaheng Home Care (+35.0%), Yiyi Co., Ltd. (+18.6%), and Yanjing Co., Ltd. (+15.6%) [5] Upcoming Events - Tmall's Double 11 sales event is set to begin on October 15, 2025, with major domestic brands like Proya and Maogeping expected to participate actively [8] Company Focus: Water Sheep Co., Ltd. - Water Sheep Co., Ltd. has a dual business model of proprietary and CP agency brands, with projected revenues stabilizing between 4 to 5 billion yuan from 2021 to 2024 [9] - The company is expected to achieve net profits of 258 million, 331 million, and 398 million yuan for the years 2025, 2026, and 2027, respectively, reflecting significant growth [10][13] Market Trends - The overall retail sales of cosmetics in August 2025 grew by 5.1%, indicating a recovery in consumer demand [17] - The domestic market is seeing a shift in market share, with local brands gaining ground against international competitors [25] E-commerce Insights - Data shows that domestic brands are performing well on platforms like Douyin and Tmall, with significant growth in GMV for brands like Proya and Maogeping [14][15] Company Developments - Proya has filed for an IPO in Hong Kong, with stable revenue growth and a strong online presence [19] - The report highlights the strategic moves of various companies, including partnerships and new product launches, to enhance their market positions [24][23]

Core Insights - The cosmetics sector experienced a rise of 1.51% on October 10, with Shuiyang Co. leading the gains [1] - The Shanghai Composite Index closed at 3897.03, down 0.94%, while the Shenzhen Component Index closed at 13355.42, down 2.7% [1] Company Performance - Shuiyang Co. (300740) closed at 23.93, up 8.72%, with a trading volume of 397,000 shares and a transaction value of 931 million yuan [1] - Jiahen Jiahua (300955) closed at 37.76, up 7.95%, with a trading volume of 119,800 shares and a transaction value of 438 million yuan [1] - Lafang Jiahua (603630) closed at 23.80, up 3.30%, with a trading volume of 73,600 shares and a transaction value of 17.5 million yuan [1] - Other notable performers include Bawi Co. (920123) up 2.45%, Shanghai Jahwa (600315) up 1.91%, and Jingsheng New Materials (300849) up 1.40% [1] Fund Flow Analysis - The cosmetics sector saw a net inflow of 96.14 million yuan from institutional investors, while retail investors experienced a net outflow of 98.20 million yuan [1] - Shuiyang Co. had a net inflow of 43.09 million yuan from institutional investors, but a net outflow of 33.48 million yuan from retail investors [2] - Jiahen Jiahua recorded a net inflow of 33.03 million yuan from institutional investors, with a significant net outflow of 67.04 million yuan from retail investors [2]