美容护理行业：美妆双11增速表现亮眼，部分公司发布双11战报

Investment Rating - Industry rating: Overweight (maintained) [2] Core Insights - The beauty and personal care industry has shown strong growth during the "Double 11" shopping festival, with an estimated GMV of 123.78 billion yuan, representing a year-on-year increase of 27% [2] - Tmall platform accounted for 50.1% of the overall market GMV, with a year-on-year growth of 29.3% [2] - The skincare category on Tmall saw a year-on-year growth of 27%, while the makeup category experienced a growth of 38.6% [2] Summary by Sections Industry Performance - The beauty industry has experienced relative returns of 3.55% over the past month, 1.3% over the past three months, and a decline of 20.04% over the past year [1] - Absolute returns were 8.66% for the past month, 24.15% for the past three months, and a decline of 6.12% for the past year [1] Key Data Points - Tmall's investment of 30 billion yuan in consumer coupons and red packets has significantly boosted traffic and sales [2] - Brands such as Proya and Giant Bio reported substantial growth, with Proya's main brand and sub-brands achieving over 10% and 60% year-on-year growth respectively [2] - The top three brands on Tmall during the "Double 11" were Proya, L'Oreal, and Lancôme, while on Douyin, they were Proya, Han Shu, and L'Oreal [2] Investment Recommendations - The report suggests focusing on domestic skincare leader Proya, as well as other listed companies such as Aimeike, Huaxi Biological, Marubi, Betaine, and Furuida [2]