美容护理行业周报：“双11”大促来临，关注美妆品牌表现

Investment Rating - The industry investment rating is "Overweight (Maintain)" indicating a positive outlook for the industry relative to the benchmark index [6][12][13]. Core Insights - The upcoming "Double 11" shopping festival has seen platforms starting promotional activities earlier than in 2023, with Tmall beginning pre-sales on October 14, JD on October 17, Douyin on October 8, Kuaishou on October 16, and Pinduoduo on October 14. This extended promotional period increases the operational and inventory management demands on brands, with strong brands expected to lead growth [6]. - Major platforms are implementing various strategies to enhance merchant operations and reduce costs, including significant financial investments and promotional incentives to stimulate consumer spending [6]. - The report highlights the approval of new indications for medical beauty products, which enriches the product offerings and is expected to expand market share for companies like Aimeike [7][8]. Summary by Sections Industry Overview - The beauty care industry is experiencing a recovery in consumer sentiment, with a focus on product innovation and category expansion among beauty brands [5][6]. - The report emphasizes the importance of operational capabilities and inventory management for brands during the extended promotional period of "Double 11" [6]. Company Developments - Aimeike's new product approval for a medical beauty application is expected to enhance its product matrix and market presence [7]. - Companies like Proya, Giant Bio, and Shumei are highlighted as potential leaders in the market due to their strong operational capabilities and product offerings [6][8]. Investment Recommendations - Long-term growth in the medical beauty sector is anticipated, with a focus on companies with strong sales performance and diverse product pipelines [8]. - The report suggests monitoring leading domestic beauty brands such as Proya and companies with promising growth potential like Marubi and Furuida [8].