Core Insights - The rise of the "beauty economy" and "beauty industry" presents significant opportunities for Liaoning to transform "beauty" into "value" [1] - The Fourth Chinese Beauty Industry Economic and Trade Exchange Event will be held in Shenyang on July 9-10, focusing on international cooperation and resource sharing [2] Group 1 - The event aims to explore Liaoning's historical roots in the beauty industry and establish it as a global hub for beauty and fashion [1] - Since 2021, Liaoning has hosted three similar events, resulting in over 20 domestic and international cooperation projects with a total signed amount of nearly 1.2 billion yuan [1] - The event will feature 11 themed activities, emphasizing resource sharing and economic trade discussions, including topics on digital transformation and AI technology in the beauty industry [2] Group 2 - Over 300 international guests and nearly 500 domestic beauty industry representatives are expected to attend the event [3] - The beauty trade exchange will gather around 100 quality exhibitors, with over 1,000 beauty-related businesses participating in discussions [3] - The event is projected to facilitate more than 15 domestic and international cooperation projects, with a signed amount exceeding 1 billion yuan [2]

Core Viewpoint - The "light medical beauty" market in China is booming, driven by consumer demand, but it is also plagued by issues such as false advertising, price fraud, and illegal operations, which harm consumers economically, health-wise, and psychologically [1][2]. Group 1: Market Overview - The Chinese medical beauty market is expected to exceed 500 billion yuan in 2024, with "light medical beauty" being the main driving force [2]. - "Light medical beauty" refers to non-invasive procedures like injections and light therapy that offer significant results with lower risks compared to traditional surgeries [2]. Group 2: Industry Issues - Price gouging is prevalent, with some medical beauty institutions charging exorbitant fees for services, such as thousands of yuan for procedures that can be found for a few hundred yuan elsewhere [3]. - Many institutions rely on misleading advertising, exaggerating results and fabricating success stories to attract customers, leading to unrealistic expectations [3][4]. - There is a high incidence of accidents and malpractice in the industry, with unqualified operations and substandard products being common, which not only results in financial loss for consumers but also disrupts market order and damages the industry's reputation [4].

Investment Rating - The report indicates a strong growth potential for the hyaluronic acid underwear industry, with a projected market size increase from 1 billion to 10.4 billion yuan from 2022 to 2024, reflecting a compound annual growth rate (CAGR) of over 300% [29][32]. Core Insights - The rapid development of the hyaluronic acid underwear market is driven by technological advancements and innovation, particularly in integrating hyaluronic acid into textiles for enhanced moisturizing properties [2][4]. - Consumer awareness and demand for functional and aesthetically pleasing clothing are significant growth drivers, with a notable shift towards products that offer both warmth and skin benefits [3][40]. - The market faces challenges such as product homogenization, leading to intensified brand competition and a focus on product differentiation and technological innovation as core strategies for future growth [3][34]. Summary by Sections Industry Overview - Hyaluronic acid is recognized for its natural safety and biodegradability, making it a key ingredient in the development of moisturizing functional textiles [15][22]. - The market for hyaluronic acid underwear is characterized by a transition from basic thermal properties to dual benefits of warmth and skin care [4][22]. Market Size - The market size for hyaluronic acid underwear is expected to grow from 14.5 billion yuan in 2025 to 25.3 billion yuan by 2029, maintaining a stable upward trend despite a slowdown in growth rate [29][32]. Driving Factors - The growth of the hyaluronic acid underwear industry is supported by favorable policies that promote innovation and market expansion, aligning with trends towards health and sustainability [26][27]. Competitive Landscape - The online retail market for hyaluronic acid underwear shows significant concentration, with leading brands like Qiaolaiti dominating in market share and consumer recognition [35][34]. - The competitive environment is marked by a reliance on digital platforms for sales, particularly Douyin, which accounts for over 80% of sales in this segment [35][34]. Consumer Demand - There is a growing consumer preference for functional, stylish, and versatile clothing, with significant interest in the moisturizing benefits of hyaluronic acid products [40][42]. - The search index for keywords related to hyaluronic acid underwear on platforms like Douyin has shown substantial growth, indicating strong market potential and consumer interest [42][32].

极目新闻记者 黄永进 殷悦 今年1月16日，位于武汉市东湖高新区光谷大道3号的激光工程设计总部二期研发楼内传来消息：本土医美器械龙头企业奇致激光（832861）召开董事会会 议，选举赵晖担任公司新任董事长，创始人彭国红正式退出管理层。据悉，赵晖原为新氧CFO，此次调整被视作新氧推进产业上下游纵向整合的重要举措。 光电医疗设备的先行者 站在"颜值经济"的时代风口，美丽健康消费持续增长。随着爱美人群的医美需求从容貌改变转向抗衰，奇致激光所在的光电医美赛道快速崛起。《中国医美 行业2024年度洞悉报告》显示，2023年，光电类项目在中高收入医美需求者中覆盖度达79%。另据高禾投资测算，2025年，光电类医美消费市场规模将达 508.12亿元。2024年1月，国务院办公厅印发我国首部"银发经济"政策文件《关于发展银发经济增进老年人福祉的意见》，将"加强基因技术、再生医学、激 光射频等在抗衰老领域的研发应用"写进意见，为光电抗衰产业发展带来利好。 作为国内光电医疗设备领域的先行者和领先的医疗光电解决方案供应商, 2001年，创立之初的奇致激光便凭借自主研发的光子嫩肤技术打开市场。2015年， 公司登陆新三板时估值已超5 ...

Group 1: Market Trends - The traditional couple economy is cooling down, with a notable shift towards male consumers focusing on self-investment and personal interests [1][3][14] - Data shows that 30% of men plan to not give gifts during the 2024 "520" period, indicating a significant change in spending behavior [1] - The sales of the domestic game "Black Myth: Wukong" reached 9 billion yuan, primarily driven by male players, reflecting the rise of "self-consumption" among men [1] Group 2: Changing Consumer Behavior - The willingness to engage in romantic relationships among young people is declining, with both genders scoring around 5 out of 10 on their desire for romance [2][3] - The sales of DR diamond rings, once a symbol of true love, have seen a significant decline, with a 36.19% drop in revenue year-on-year [2] - The cinema attendance for romantic films is decreasing, replaced by a demand for family and solo viewing experiences [3] Group 3: Male Consumption Dynamics - Male consumers are increasingly spending on personal grooming and beauty products, with sales in categories like skincare and cosmetics for men reaching 1.86 billion yuan, a 65% increase year-on-year [5] - The male medical beauty market is also growing, with 45% of surveyed men planning to increase their spending on medical aesthetics in 2024 [7] - The average spending of male consumers online has surpassed that of females, reaching 10,025 yuan, with the male consumption market expected to exceed 6 trillion yuan by 2025, growing at a compound annual growth rate of 9.8% [4] Group 4: Marketing and Brand Strategy - Brands need to adapt to the shift from relationship-based consumption to individual needs, focusing on "solitary consumption" [9][10] - Marketing strategies are evolving from emphasizing product functionality to highlighting emotional value and identity recognition [12][13] - The rise of interest-based consumption is evident, with products becoming symbols of social identity, such as the "middle-class three-piece set" [8][12] Group 5: Future Outlook - The transformation in male consumer behavior is indicative of a broader market restructuring, where consumption is increasingly tied to personal meaning rather than mere transactions [14] - The emergence of new markets driven by single economy, technological empowerment, and evolving values is expected to create significant opportunities for brands [14]

Core Viewpoint - The article highlights the significant rise in new consumption sectors, particularly in the beauty care, pet economy, and "grain economy" sectors, driven by the "self-economy" trend in the current consumer landscape [2][4][10]. New Consumption Sectors - The beauty care sector experienced the most substantial gains, with stocks like Kela Co. and Fuirjia seeing increases of 20.03% and 12.17% respectively [5][6]. - The pet economy also showed strong performance, with Tianyuan Pet reaching a limit-up increase [8]. - The "grain economy" sector saw stocks like Mankalon and Chuangyuan Co. rise significantly [8]. Market Performance - As of the morning close, the Shanghai Composite Index rose by 0.38%, the Shenzhen Component Index by 0.79%, and the ChiNext Index by 1.04% [2]. - High-profile stocks experienced a downturn, with companies like Lijun Co. and Ningbo Yuanyang facing significant declines [2]. Future Market Predictions - Institutions predict that by 2025, the "beauty economy" market in China will exceed 3.5 trillion yuan, with light medical beauty, green cosmetics, and smart beauty devices identified as key growth areas [8]. - The rise of personalized and intelligent beauty solutions is expected to further enhance the market [8]. Pharmaceutical Sector - The pharmaceutical sector saw a strong performance, particularly in innovative drugs and recombinant proteins, with companies like Sanofi and Rongchang Bio achieving notable stock increases [11][12]. - Sanofi's collaboration with Pfizer for the exclusive development and commercialization of a product has led to a significant market response, with a non-refundable upfront payment of $1.25 billion and potential total payments reaching $4.8 billion [13][16]. Investment Trends - The article notes a shift in investment logic from "total expansion" to "demand differentiation," with new consumption companies benefiting from high communication characteristics and the younger generation's demand for personalized products [10]. - Three key directions for the broader consumer sector include essential consumption showing defensive value, rapid rise of new consumption formats, and the release of incremental space in lower-tier markets [10].

（原标题：医美市场规模有望增至6000亿！今年已注册1.41万家相关企业） 2.医美相关企业均匀分布在二三线、新一线城市 企查查数据显示，从城市能级分布来看，医美相关现存企业分布较均匀，其中分布在三线城市的医美相 关企业最多，占比22.56%。其次，分布在二线城市、新一线城市的相关企业分别占比21.23%、 20.39%。 3.归属于居民服务、修理和其他服务业的相关企业最多 企查查数据显示，从国标行业来看，归属于居民服务、修理和其他服务业的医美相关企业最多，占比 34.06%。其次，归属于卫生和社会工作的相关企业占比23.14%。此外，医美相关企业也广泛分布在批 发和零售业、租赁和商务服务业、科学研究和技术服务业等国标行业。 近年来，随着社交媒体的普及，美貌得以展现，人们对美的追求愈发多元化。加之政策扶持医美行业规 范化发展与人民可支配收入的提升，美妆、医美等"颜值经济"呈爆发式增长。有业内人士认为，从长期 来看，医美行业依然处于快速成长期，具有巨大的拓展空间。据弗若斯特沙利文预测，到2026年，我国 医美市场规模将达到3998亿元，到2030年有望增至6382亿元，年复合增长率为12.4%。 企查查数据显示 ...

商报讯(记者汤佳烨通讯员俞晶)在"颜值经济"全球化浪潮中，浙江美妆企业迈出铿锵步伐。近日，经杭 州海关检验后，浙江欧诗漫美容科技有限公司第一批化妆品顺利报关出口，一瓶瓶印有欧诗漫自主品牌 标识的化妆品走出国门，运往海外。 "上周，我们的产品通过监督抽检，获得了湖州海关签发的出口电子底账，心里石头算是落地了一半。 目前产品已在发往沙特阿拉伯的路上了。"汤学强高兴地表示，"这是我们公司第一次出口化妆品，感谢 海关前期的指导和帮助，为海关高效的工作点赞！" 为帮助辖区化妆品企业把握"颜值经济"浪潮加速出海，海关主动作为，第一时间开展"关长送政策上 门"活动，帮助企业快速了解国外准入门槛和最新要求，详细解读海关化妆品申报规定。实施"源头管控 +过程追溯"双核监管模式，保障出口化妆品生产全程安全可控。推行"7×24小时"属地查检预约制度，实 现"即报即查""预约查检"及证书"云签发"，有效提升通关时效。 浙江欧诗漫美容科技有限公司是欧诗漫控股集团有限公司下属企业，主要生产面膜、水乳、面霜等产 品，是国内知名化妆品公司。近年来，为获得更广阔的发展空间，企业逐渐将目光转向海外。 "我们不只要在国内点亮自己的招牌，更要走向国 ...

Core Viewpoint - *ST Suwu is facing scrutiny due to disclosure violations but is experiencing strong growth in its medical aesthetics business, which is expected to drive a turnaround in overall performance [1][2][3] Group 1: Financial Performance - In 2024, *ST Suwu achieved revenue of 1.599 billion yuan and gross profit of 773 million yuan, marking a year-on-year increase of 229 million yuan, or 42.12% [1] - The net profit attributable to shareholders reached 70.48 million yuan, a significant year-on-year growth of 197.97% [1] - In Q1 2025, the medical aesthetics segment generated revenue of 113 million yuan with a gross profit of 92.57 million yuan, while the pharmaceutical segment saw a revenue decline of 218.44 million yuan [2] Group 2: Business Strategy and Market Position - *ST Suwu has shifted its strategic focus from pharmaceutical business to medical aesthetics since early 2021, which has proven to be a forward-looking decision that opened new growth avenues [2] - The launch of the "Tongyan Needle" in January 2024 marked *ST Suwu's first entry into the medical aesthetics market, quickly gaining traction despite pricing controversies [2][3] - The company has established strong marketing efforts across various well-known medical aesthetics brands, enhancing its competitive position in the market [3]

Investment Rating - The report rates the beauty and personal care industry as "outperforming the market" [23] Core Insights - In Q1 2025, the fund allocation ratio for the beauty and personal care industry increased slightly, with a total market capitalization of 254.203 billion yuan, up 3.38% from Q4 2024. The total market value of fund holdings in this sector reached 69.182 billion yuan, resulting in a fund allocation ratio of 0.27%, which is an increase of 0.06 percentage points from the previous quarter [11][12] - The individual segments of personal care and medical beauty are in an overweight position, while the cosmetics segment has reached a record low in underweight allocation [3][15] Summary by Sections Fund Allocation Analysis - The beauty and personal care industry saw a fund allocation ratio of 0.27% in Q1 2025, which is an increase of 0.06 percentage points from Q4 2024. The overweight ratio remains at -0.05%, indicating a continued underweight position [11][21] - The personal care segment's fund allocation ratio was 0.09% in Q1 2025, up 0.02 percentage points, with an overweight ratio of 0.03% [15] - The cosmetics segment's fund allocation ratio fell to 0.04%, with an overweight ratio declining to a historical low of -0.12% [15] - The medical beauty segment's fund allocation ratio was 0.13%, with an overweight ratio of 0.03% [15] Top Holdings - The top three stocks in the beauty and personal care sector by fund holding ratio in Q1 2025 are Aimeike, Jinbo Biological, and Stable Medical [16][17] - The total holding ratio of the top ten stocks in this sector was 0.10%, an increase of 0.02 percentage points from the previous quarter [16] Investment Recommendations - The report suggests focusing on cosmetics and medical beauty, as there is significant demand potential in the medium to long term due to the "beauty economy." Regulatory policies favor compliant leading companies in these sectors [21] - For personal care products, the report highlights the growing consumer emphasis on health and care, recommending attention to leading companies with strong R&D capabilities and diverse product matrices [21]