Investment Rating - The report rates the beauty and personal care industry as "Neutral" [26] Core Insights - The beauty and personal care sector underperformed the market, with the Shanghai-Shenzhen 300 Index down 3.25% and the Shenwan Beauty and Personal Care Index down 8.00%, trailing the market by 4.75 percentage points [12][13] - Only three stocks in the sector saw gains this week: Qingdao Kingking (up 7.64%), Runben Co. (up 2.73%), and Jinsong New Material (up 0.13%). Conversely, the worst performers included Kesheng Co. (down 13.23%), Beitaini (down 12.40%), and Huaxi Biological (down 12.26%) [15][16] Market Performance - The beauty and personal care sector's year-to-date performance shows a decline of 6.77%, while the overall Shanghai Composite Index has increased by 8.16% [13][21] - The retail sales of cosmetics in August 2024 were 31.9 billion yuan, reflecting a year-on-year decrease of 6.1% [21] Industry News - Aimeike's medical-grade polyvinyl alcohol gel microspheres received NMPA approval for use in correcting chin retrusion [7][19] - Highderm's Sculptra, an injectable poly-L-lactic acid filler, was approved by NMPA, marking its 25th anniversary and its long-standing dominance in international markets [17] - The first two home-use radiofrequency beauty devices were approved, indicating a trend towards healthier industry development [18] Investment Recommendations - The report suggests focusing on the cosmetics sector during the upcoming "Double Eleven" shopping festival, highlighting the growth potential of domestic brands like Proya and Juzi Biological [8] - The medical aesthetics sector is characterized by dual development in supply and demand, increasing penetration rates, and stricter compliance, with recommendations to focus on leading companies like Aimeike and Jiangsu Wuzhong [8]
美容护理行业周报：爱美客新产品获批，觅光射频美容仪取得三类证
Donghai Securities·2024-10-14 07:30