美护商社行业周报：4月CPI环比转增，五一出行消费表现亮眼

Investment Rating - The report maintains a "Buy" rating for the selected companies in the beauty and personal care sector [7][10]. Core Insights - The consumer price index (CPI) showed a slight increase of 0.1% month-on-month in April 2025, indicating a stabilization in consumer prices [3][21]. - During the "May Day" holiday, domestic travel reached 314 million trips, a year-on-year increase of 6.4%, with total spending of 180.27 billion yuan, up 8.0% [4][28]. - The beauty and personal care segment experienced varied sales performance, with Tmall sales for skincare categories at 7.817 billion yuan, down 11.61% year-on-year [3][21]. Market Performance - For the week of May 6-9, 2025, the retail, social services, and beauty care sectors saw increases of 0.88%, 1.12%, and 1.71% respectively, ranking 29th, 25th, and 22nd among 31 primary industries [2][13]. - The Shanghai Composite Index rose by 1.92%, while the Shenzhen Component Index and CSI 300 Index increased by 2.29% and 2.00% respectively during the same period [2][16]. Key Industry Data and News - The beauty care sector's sales on Tmall for April 2025 were 7.817 billion yuan, with notable brand performance variations, such as Proya down 24% and Han Shu up 51% [3][21]. - The travel sector saw significant growth, with key tourist destinations like Emei Mountain and Huangshan experiencing visitor increases of 24.71% and 13.82% respectively during the holiday [4][30]. - The retail sector welcomed new listings, including "Hushang Ayi," marking the fourth new tea drink brand to go public in 2025 [5][34]. Company Announcements - Xiangyuan Cultural Tourism reported a 112.90% increase in visitor numbers during the "May Day" holiday, reaching 623,600 visitors and generating revenue of 40.40 million yuan, up 100.71% year-on-year [36]. - Runben Co. announced a new investment of 600 million yuan for a biotechnology research and production base, adding to its previous investment in the same area [37].