华西证券：双11美妆延续复苏态势 行业景气度有望继续回升

Core Insights - The beauty sector during the Double 11 shopping festival has continued its recovery trend observed since the beginning of the year, with various platforms implementing measures to stabilize and boost the market [1] - Foreign brands have shown improvement this year, while domestic brands have also performed steadily, with leading brands maintaining their positions at the top of various rankings [1] - Domestic brands that possess core technology, ingredient backing, and highlight Eastern cultural characteristics, along with strong brand power, product quality, and operational capabilities, are expected to continue leading and stand out in the competitive landscape [1]