美容护理行业：爱美客新产品获得批准，毛戈平重新提交招股说明书

Investment Rating - The industry investment rating is "Overweight" (maintained) [2] Core Viewpoints - The recent approval of a new product by Aimeike, which is a medical-grade hyaluronic acid gel, addresses aging issues caused by bone tissue defects, marking a significant innovation in the market [2] - The re-submission of the prospectus by Maogeping for its Hong Kong IPO indicates ongoing growth and interest in the beauty sector [2] - The beauty and personal care industry has shown mixed performance, with a notable decline in absolute returns over the past year, but recent sales data from platforms like Tmall and Douyin indicate growth in specific categories [2] Summary by Relevant Sections Industry Performance - Over the past 12 months, the industry has experienced a relative return of 3.8% over one month, -3.2% over three months, and -26.02% over twelve months compared to the CSI 300 index [2] - Absolute returns were 25.85% over one month, 7.72% over three months, and -20.76% over twelve months [2] Company Developments - Aimeike's new product is the second hyaluronic acid facial filler approved, utilizing innovative patented technology to effectively address skin aging due to bone tissue loss [2] - Maogeping's revenue has shown significant growth from 15.77 billion yuan in 2021 to 28.85 billion yuan in 2023, with a compound annual growth rate (CAGR) of 35.26% [2] - The skincare segment of Maogeping has increased its revenue share from 29.7% in 2021 to 40.0% in 2023 [2] Market Insights - In September, Tmall's skincare and makeup categories generated sales of 5.901 billion yuan and 2.15 billion yuan, respectively, with year-on-year growth of 0.6% and 1.3% [2] - Douyin's beauty category GMV exceeded 15.83 billion yuan in September, reflecting a year-on-year growth of 18.42% [2] - The top three brands in Tmall's skincare category were Proya, L'Oreal, and Olay, while the makeup category was led by Carlsan, Yves Saint Laurent, and Maogeping [2]