借政策东风，外资化妆品公司快速实现从原料研发到投产落地

Core Viewpoint - The recent policies in China have significantly accelerated the process of new cosmetic ingredient development and market entry for foreign companies, enhancing their commitment to the Chinese market [1][2]. Group 1: Policy Impact - The Shanghai Economic and Information Commission issued measures to promote high-quality development in the cosmetics industry, providing financial support through subsidies for companies [1]. - The new regulations established a mechanism for simultaneous application of new ingredients and related products, greatly reducing the registration period for special products [2]. Group 2: Product Development and Launch - The patented ingredient, Tiannmingduo®630, developed by Beiersdorf, is expected to be the first to receive government subsidies, with a maximum of 2 million RMB [1]. - Tiannmingduo®630 received approval from the National Medical Products Administration in November 2024, becoming the first licensed whitening ingredient under the new Cosmetics Supervision and Administration Regulations [1]. - The product was launched in China in May 2025 after initially being sold as a cross-border purchase, with significant sales growth observed post-launch [2]. Group 3: Company Investment and Future Outlook - Beiersdorf invested approximately 31.42 million USD (about 225 million RMB) into its local subsidiary, Nivea (Shanghai), to enhance local R&D, smart production line upgrades, and digital marketing efforts [2]. - The company anticipates continued high double-digit growth in product sales, supported by government policies and a positive long-term outlook for the Chinese beauty market [2].