Investment Rating - The investment rating for the retail industry is "Positive" (maintained) [1] Core Views - The report highlights the strong performance of domestic brands in the skincare and cosmetics sectors on platforms like Douyin, with significant market share gains [5][25][28] - The report emphasizes the importance of emotional consumption trends driving growth in various retail segments, particularly in jewelry, cosmetics, and offline retail [30][31] Summary by Sections Retail Market Overview - The retail industry index decreased by 2.22% during the week of July 28 to August 1, 2025, underperforming the Shanghai Composite Index by 1.28 percentage points [7][14] - The professional chain segment showed the largest increase among retail sub-sectors, while the jewelry sector led the year-to-date performance with a 25.38% increase [17][20] Key Industry Dynamics - In July, Douyin's skincare brand Han Shu ranked first, with domestic brands occupying 15 out of the top 20 spots in the skincare category [25][28] - The cosmetics sector also saw domestic brands excel, with 19 out of the top 20 positions in the makeup category, driven by cushion products and other high-demand items [28][29] Investment Recommendations - Investment focus areas include: - **Jewelry**: Recommend brands with differentiated product offerings like Laopuhuang and Chaohongji [30][33] - **Offline Retail**: Highlight companies like Yonghui Supermarket and Aiyingshi that are adapting to consumer trends [30][31] - **Cosmetics**: Emphasize domestic brands with strong market positions such as Maogeping and Pola [31][32] - **Medical Aesthetics**: Focus on companies with unique product lines like Aimeike and Kedi-B [31][32] Company-Specific Insights - **Laopuhuang**: Achieved revenue of 8.506 billion yuan (+167.5%) and a net profit of 1.473 billion yuan (+253.9%) in FY2024, with strong growth expected in H1 2025 [32] - **Yonghui Supermarket**: Reported a revenue of 17.479 billion yuan (-19.3%) and a net profit of 148 million yuan (-80.0%) in Q1 2025, with ongoing transformation efforts [32] - **Maogeping**: Recorded a revenue of 3.885 billion yuan (+34.6%) and a net profit of 881 million yuan (+33.0%) in FY2024, indicating strong brand momentum [32]

Investment Rating - The report suggests a positive outlook for domestic brands and a recovery for international beauty brands in the Chinese market, indicating potential investment opportunities in the cosmetics and medical beauty sectors [2][3]. Core Insights - The cosmetics and medical beauty sector underperformed the market, with the Shenwan Beauty Care Index declining by 3.3% from July 25 to August 1, 2025, while the Shenwan Cosmetics Index fell by 2.6% [3][4]. - Domestic brands showed strong growth during the off-season, with notable increases such as Han Shu up 58%, Proya up 23%, Marubi up 72%, and Kefu Mei up 28%, indicating resilience in the market [7][17]. - International beauty brands, represented by L'Oréal, are recovering in the Chinese market, with a 3% growth in Q2 2025, supported by promotional events like the 618 shopping festival [7][24]. - The report highlights the success of Lin Qingxuan, a high-end domestic skincare brand, which saw revenue grow from 690 million yuan in 2022 to 1.21 billion yuan in 2024, showcasing the potential of domestic brands [13][14]. Summary by Sections Industry Performance - The beauty and medical aesthetics sector has shown weaker performance compared to the overall market, with specific indices declining [3][4]. - The report notes that the cosmetics market is transitioning from quantity to quality, with a significant increase in e-commerce sales, which accounted for 47% of cosmetics sales in 2024, up from 22% in 2016 [9][30]. Key Company Highlights - L'Oréal's sales in China for H1 2025 reached approximately 186.19 billion yuan, with a 3% year-on-year increase, indicating a recovery in the Chinese market [24]. - Procter & Gamble reported a record net sales of approximately 604.95 billion yuan for the 2025 fiscal year, with the beauty segment achieving a net sales of approximately 107.66 billion yuan, reflecting a 2% growth [25]. - Lin Qingxuan's product matrix includes 188 SKUs, with a focus on high-quality natural ingredients, and it has established a strong supply chain and distribution network [14][16]. Market Trends - The report emphasizes the growing market for high-end skincare products, with the market size expected to increase from 749 billion yuan in 2019 to 1,144 billion yuan by 2024, indicating a compound annual growth rate (CAGR) of 13.8% [14][15]. - The domestic brands are gaining market share, with the top ten brands in the skincare market now evenly split between domestic and international brands, reflecting a shift in consumer preferences [30][31].

（原标题：美容护理行业本周跌3.30%，主力资金净流出8.22亿元） 美容护理行业资金流向排名 | 代码 | 简称 | 一周涨跌幅（%） | 一周换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 300896 | 爱美客 | -3.67 | 7.50 | -16152.43 | | 300888 | 稳健医疗 | -5.58 | 23.81 | -9903.50 | | 002094 | 青岛金王 | -3.69 | 34.44 | -8144.37 | | --- | --- | --- | --- | --- | | 603605 | 珀莱雅 | -2.38 | 6.47 | -7231.63 | | 300957 | 贝泰妮 | -3.08 | 4.64 | -6270.02 | | 002511 | 中顺洁柔 | -3.18 | 10.53 | -4998.09 | | 688363 | 华熙生物 | -3.49 | 4.95 | -4676.63 | | 603630 | 拉芳家化 | -6.52 | 16.54 | -4086.99 | ...

Group 1 - The company, Aimeike, stated on August 1 that as of July 31, 2025, the number of shareholders will be 55,143 [2]

证券之星消息，8月1日医疗美容板块较上一交易日上涨0.06%，*ST美谷领涨。当日上证指数报收于 3559.95，下跌0.37%。深证成指报收于10991.32，下跌0.17%。医疗美容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) | | --- | --- | --- | --- | --- | --- | | 000615 | *ST美谷 | 3.12 | 2.30% | 11.73万 | 3619.67万 | | 688363 | 华熙生物 | 56'15 | 0.25% | 3.01万 | 1.57 Z | | 300896 | 爱美客 | 184.53 | -0.20% | 2.32万 | 4.31亿 | | 832982 | 锦波生物 | 322.91 | -3.46% | 1.04万 | 3.39亿 | 从资金流向上来看，当日医疗美容板块主力资金净流出1180.44万元，游资资金净流入977.47万元，散户 资金净流入202.97万元。医疗美容板块个股资金流向见下表： | 代码 | | | 名称 主力净流入（元） 主力净占比 游资净流入（元 ...

报告期内，2024年，稳健医疗应收账款增速高于营业收入增速，应收账款/营业收入比值持续增长，销 售毛利率下降，存货周转率持续下降。 2024年，爱美客营收、归母净利润增速明显放缓、多项盈利能力指标出现下滑，销售毛利率、净资产收 益率均出现下滑。 2024年，贝泰妮增收不增利，多项盈利能力指标出现下滑，销售毛利率、净资产收益率均出现下滑。除 此之外，公司多项营运能力评估指标也出现了下滑，如公司应收账款周转率、总资产周转率持续下滑。 专题：专题|2024年度A股CFO数据报告：美的集团钟铮年薪946万，比亚迪周亚琳896万 作为上市公司核心管理层关键成员，财务总监CFO的地位与作用至关重要。新浪财经《2024年度A股 CFO数据报告》显示，2024年A股上市公司财务总监CFO群体薪酬规模合计达42.70亿元，平均年薪为 81.48万元。值得关注的是，青松股份CFO汪玉聪从2018年5月起担任公司财务总监，任期内，青松股份 营收连续4年下降，归母净利润更是一度陷入亏损之中。 随着年报披露收官，美容护肤行业上市公司财务总监薪酬面纱也被揭开。据数据统计，美容护肤行业上 市公司年薪为77万元，其中为财务总监支付的最高年度 ...

Core Insights - The total salary scale for CFOs in A-share listed companies reached 4.27 billion yuan in 2024, with an average annual salary of 814,800 yuan [1] - The highest annual salary for a CFO in the beauty and skincare industry was 2.93 million yuan, paid to Wang Li of Proya [2][3] - The beauty and skincare industry CFOs' average salary was reported at 770,000 yuan, with nearly 12 companies having CFO salaries exceeding 1 million yuan [2] Salary Breakdown - The top five CFO salaries in the beauty and skincare sector are as follows: - Proya: 2.93 million yuan - Beitaini: 2.82 million yuan - Aimeike: 2.34 million yuan - Baiya: 2.04 million yuan - Sturdy Medical: 2.02 million yuan [2][3] - Companies with CFO salaries exceeding 2 million yuan include Sturdy Medical, Baiya, Aimeike, Beitaini, and Proya [2] Industry Performance - Aimeike experienced a significant slowdown in revenue and net profit growth, with declines in multiple profitability indicators, including sales gross margin and return on equity [1][3] - Beitaini also reported a decline in profitability metrics, with decreasing sales gross margin and return on equity, alongside a drop in operational efficiency indicators [4] - Sturdy Medical's accounts receivable growth outpaced revenue growth, leading to an increase in the accounts receivable to revenue ratio and a decline in sales gross margin [3]

专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 值得关注的是，中顺洁柔、福瑞达2024年市值均不同程度下滑，业绩表现均为营收、归母净利润双降。 其中，2024年，中顺洁柔市值下滑31.38%，营收下降16.84%，归母净利润下降76.8%；福瑞达市值下滑 19.64%，营收下降13.02%，归母净利润下降14.1%。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ MACD金叉信号形成，这些股涨势不错！ 数据显示，截止7月29日，A股市场共有5817家上市公司。董秘作为连接投资者与上市公司的"桥梁"， 在上市公司资本运作中发挥着关键作用。据2024年年报显示，去年A股董秘薪酬合计达40.86亿元，平均 薪酬75.43万元。 随着年报披露收官，美容护理上市公司董秘薪酬面纱也被揭开。据数据统计，美容护理行业上市公司为 董秘支付的最高年度薪酬是珀莱雅，为董秘王莉支付年薪293.3万元，为董秘支付的最低年度薪酬是两 面针，为董秘韦元贤支付年薪仅23.04万元。珀莱雅董秘王莉年薪是两面针董秘韦元贤的12.7倍。 美容护理行业上市公司中，有5家上市公司董秘的年薪 ...

随着年报披露收官，美容护理上市公司董秘薪酬面纱也被揭开。据数据统计，美容护理行业上市公司为 董秘支付的最高年度薪酬是珀莱雅，为董秘王莉支付年薪293.3万元，为董秘支付的最低年度薪酬是两 面针，为董秘韦元贤支付年薪仅23.04万元。珀莱雅董秘王莉年薪是两面针董秘韦元贤的12.7倍。 美容护理行业上市公司中，有5家上市公司董秘的年薪超200万，分别为百亚股份、爱美客、上海家化、 贝泰妮、珀莱雅。其中百亚股份董秘张黎年薪为204.78万元，爱美客董秘简勇年薪为213.26万元，上海 家化原董秘韩敏年薪为223.2万元，贝泰妮董秘王龙年薪为282万元，珀莱雅原董秘王莉年薪为293.3万 元。 | 公司名称 | 2024年董秘年薪超200万上市公司 董秘姓名 | 年薪:万元 | | --- | --- | --- | | 百亚股份 | 张黎 | 204. 78 | | 爱美客 | 简勇 | 213.26 | | 上海家化 | 韩敏 | 223. 2 | | 贝泰妮 | 王龙 | 282 | | 珀莱雅 商公司研究 | 王莉 | 293. 3 资料来源：公司公告 新浪财经上市公司研究院 | 专题：专题|2024年度A股 ...

专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 数据显示，截止7月29日，A股市场共有5817家上市公司。董秘作为连接投资者与上市公司的"桥梁"， 在上市公司资本运作中发挥着关键作用。据2024年年报显示，去年A股董秘薪酬合计达40.86亿元，平均 薪酬75.43万元。 随着年报披露收官，美容护理上市公司董秘薪酬面纱也被揭开。据数据统计，美容护理行业上市公司为 董秘支付的最高年度薪酬是珀莱雅，为董秘王莉支付年薪293.3万元，为董秘支付的最低年度薪酬是两 面针，为董秘韦元贤支付年薪仅23.04万元。珀莱雅董秘王莉年薪是两面针董秘韦元贤的12.7倍。 董秘作为上市公司治理的核心角色，其专业能力和履职表现对公司股价的影响至关重要。在为董秘支 付超200万年薪的上市公司中，爱美客董秘简勇任期内，公司市值连续两年下降，2023、2024年分别同 比下降47.47%、12.65%；上海家化董秘韩敏任期内，公司市值连续三年下降，2022-2024年分别同比下 降20.5%、32.96%、18.94%，贝泰妮董秘王龙 ...