化妆品与日化行业周报：微信小店“送礼物”功能开发新礼赠场景，潮玩/化妆品望优先受益

Investment Rating - The report maintains a "Buy" rating for the industry, expecting an upward movement exceeding 15% over the next 3-6 months [9][65]. Core Insights - The development of the "Gift Giving" feature in WeChat Mini Stores is anticipated to benefit the toy and cosmetics sectors, with domestic beauty brands quickly adapting to leverage this new channel [22][36]. - The beauty and personal care sector is experiencing a mixed performance, with some companies like Reliable Co. and Nobon Co. showing significant gains, while the overall sector has seen a decline of 0.28% [25][50]. - The gold and jewelry sector is expected to see improved sales during the peak season in October, with a focus on gold price trends and consumer demand during the upcoming Spring Festival [35][60]. Summary by Sections 1. WeChat Mini Store Developments - The "Gift Giving" feature is being tested, allowing most products under 10,000 yuan to be gifted, which is expected to stimulate demand in the toy and cosmetics markets [49][36]. - Domestic beauty brands are rapidly establishing their presence on WeChat Mini Stores, while international brands are slower to respond [36][49]. 2. Market Review - The Shanghai Composite Index, Shenzhen Component Index, and CSI 300 have seen declines of 1.06%, 1.34%, and 1.14% respectively over the past two weeks [50]. - The beauty care sector has experienced a decline of 0.28%, while the gold and jewelry sector has dropped by 1.49% [50][25]. 3. Performance of Key Companies - In the beauty care sector, companies like Reliable Co. (up 45.69%), Nobon Co. (up 35.74%), and Baozun E-commerce (up 30.42%) have shown strong performance [27][50]. - In the gold and jewelry sector, Jin Yi Culture, Zhou Dazheng, and Lao Pu Gold have led the gains [53][55]. 4. Raw Material Price Tracking - Palm oil prices have decreased by 6.27%, while crude oil prices have fallen by 0.61% over the past two weeks [30][55]. - COMEX gold futures closed at 2640.5 USD/oz, down 1.58% from the previous period [74][35].