Xin Lang Cai Jing·2025-06-22 04:36Industry Changes - In May, domestic brands such as Zhenjia, Feicui, PA, and Perfect Diary showed strong performance on Tmall and Douyin, with Feicui's GMV exceeding 60 million, and several brands achieving over 100% growth [1] - The import value of cosmetics in May decreased by 4.9% year-on-year, totaling 10.19 billion, indicating a downward trend in overall imported cosmetics despite some recovery among foreign beauty brands [2] Company Updates - Ruoyu Chen raised its share repurchase price significantly from 30.22 yuan to 88.4 yuan per share, reflecting confidence in the company's future development [1] - Ying Tong Group, a major player in the Chinese perfume market, is preparing for its listing on the Hong Kong Stock Exchange, with projected revenue of 2.083 billion for FY2025, representing an 11.8% year-on-year increase [2] - Juzi Holding Co., Ltd, the controlling shareholder of Juzi Biotechnology, plans to increase its stake by no less than 200 million HKD, indicating confidence in the company's long-term value [2] Retail Sector Insights - Chow Tai Fook reported a revenue of 89.66 billion HKD for FY25, a decrease of 17.5%, but showed signs of recovery with a narrowing decline in retail sales [4] - Yonghui Supermarket is accelerating its store renovation plan, aiming to complete renovations for 300 stores by the Lunar New Year in 2026 [5] Investment Recommendations - The current low valuation combined with new consumer growth remains a core theme, with a focus on domestic leading brands and the upcoming 618 shopping festival as a potential catalyst [3] - The jewelry sector is recommended, particularly Chow Tai Fook, with attention to other low-valuation Hong Kong jewelry companies [6][14] - New consumption trends in the jewelry sector are expected to drive growth, with a shift in consumer demographics towards younger buyers and a focus on self-purchase attributes [10][12]