美护商社行业周报：行业进入业绩披露期，关注基本面表现

Investment Rating - The report maintains a "Recommendation" rating for the industry [5] Core Insights - The industry has entered the annual report performance disclosure period, with a focus on companies showing strong fundamentals and marginal improvements [2] - Notable performances include: - Shangmei Co. achieved revenue of 6.793 billion yuan, a year-on-year increase of 62.1%, and a net profit of 803 million yuan, up 74% [2] - Aimeike reported revenue of 3.026 billion yuan, a 5.45% increase, and a net profit of 1.958 billion yuan, up 5.33% [2] - Mingchuang Youpin Group's revenue reached 17 billion yuan, a 22.8% increase, with overseas revenue growing by 42% to 6.68 billion yuan [2] - Huazhu Group's Q4 revenue was 6.023 billion yuan, a 7.8% increase, with plans to open 2,300 hotels in 2025 [2] Market Performance - For the week of March 17-21, 2025, the performance of the retail and beauty care sectors was as follows: - Shenwan retail sector down 4.03%, social services down 1.18%, and beauty care down 4.06% [11] - The overall market indices also declined, with the Shanghai Composite Index down 1.60% and the Shenzhen Component Index down 2.65% [11][14] - Sub-sectors such as professional chains, trade, and personal care products experienced significant declines, with drops of 7.86%, 4.78%, and 4.55% respectively [13] Key Events and Announcements - The report highlights several key events: - Chaohongji successfully held a spring new product ordering meeting, showcasing various new series that attracted strong interest from franchisees [23] - Betaini invested in the body care brand "Yujian," acquiring a 15.79% stake [22] - Yonghui Supermarket announced plans to close 250-350 stores as part of its reform strategy [22]