[Table_2R0e2p4or年tDa0te4] 月 11 日 [Table_Report电In力du设 str备yN ame] [证Tab券le_研Re究po报rtN告am e—] 行业定期报告 [投Ta资bl评e_级In：du中str性yR ank] [电Tab网le_建Title设] 企稳 风光开年装机开门红 相对指数表现 报告摘要 [Table_Chart] 电力设备 沪深300 [Tabl电e_网Su及m电m源ary设] 备：2024年1-2月电网基本建设投资额为327亿元， 0.52 同比增速为 2.51%；电源基本建设投资额达到 761 亿元，同比增速为 0.23 -0.06 12.6%；2024 年 1-2 月全年全社会用电量 1.53 万亿千瓦时，增速为 -0.35 11%，第一、二、三产业及城乡居民用电增速分别为 11.1%、9.7%、 -0.63 15.7%、10.5%；逆变器去年累计出口金额达到 72.19 亿元，增速为- -0.92 2023-4 2023-7 2023-10 2024-1 2024 -4 46.29%，其中，荷兰（10.38亿元）、巴西（7.9亿元）、印度（3.9 ...

Investment Rating - The report assigns a "Neutral" investment rating to the beauty and personal care industry, indicating that the industry index is expected to fluctuate between a 10% increase and a 10% decrease relative to the broader market over the next six months [28]. Core Insights - In 2023, the retail sales of cosmetics in China reached 414.2 billion yuan, reflecting a year-on-year growth of 5.1%, which underperformed the overall retail sales growth by 2.1 percentage points, indicating a weak recovery in the industry [2][22]. - The 2024 International Women's Day sales event showed an increase in the competitiveness of domestic beauty brands, with the top 10 brands on platforms like Tmall and Douyin seeing a higher market share compared to the previous year [2][17]. - The report highlights that domestic brands are expected to continue gaining market share due to factors such as declining imports, increased focus on R&D, and a strong cultural acceptance among Generation Z consumers for high-quality domestic products [2][17]. Summary by Sections Market Review - In February 2024, the beauty and personal care sector rose by 14.43%, outperforming the Shanghai Composite Index by 5.08 percentage points, ranking fifth among all sectors [8]. Medical Aesthetics and Cosmetics Industry Dynamics - Haohai Biological Technology reported a revenue of 2.654 billion yuan in 2023, a year-on-year increase of 24.59%, with its medical aesthetics business growing by 41.27% [12]. - The 2024 International Women's Day sales event revealed that domestic brands like Proya and Han Shu topped the sales charts on Tmall and Douyin, indicating a significant shift in consumer preferences [14][17]. - Proya launched new products, including the "Source Power Cream 2.0" and "Shield Sunscreen," which incorporate innovative ingredients like recombinant collagen [20]. Cosmetics Industry Data Tracking - The retail sales of cosmetics in China for 2023 were 414.2 billion yuan, with a growth rate of 5.1%, indicating a gradual recovery in consumer demand [22]. - Douyin's beauty segment achieved a sales volume of 12.747 billion yuan in February 2024, marking a year-on-year growth of 66.4% [23].

[Table_2R0e2p4or年tDa0te2] 月 28 日 [Table_ReportIn通du信 str yName] [证Tab券le_研Re究po报rtN告am e—] 行业定期报告 [投Ta资bl评e_级In：du强str于yR大a市nk ] [TTaMbleT_T行itle业] 月报：视频生成模型 Sora 发布再度 相对指数表现 引爆人工智能市场；现象级游戏《幻兽帕鲁》 [Table_Ch通信art] 计算机 游戏Ⅱ 沪深300 或将改变游戏制作模式 1.33 0.89 报告摘要 0.45 0.01 [Tabl2e0_2S4um年m1a月ry] 2日至1月31日，沪深300指数下跌6.29%，通信 -0.43 行业下跌15.19%，计算机行业下跌23.65%，传媒行业下跌15.47%。 -0.87 2023-2 2023-5 2023-8 2023-11 1 月份从已发布业绩预告的公司来看，2023 年第四季度部分公司业绩 出现亏损或者不及预期，由于业绩未能兑现，先前靠概念影响上涨的科 技公司估值下滑明显，其中通信、计算机、电子行业跌幅较大。不过到 m 2 月份o，受人工智能、5G-A 等新 ...