Group 1: Company Developments - Hunan Oubiao has been restricted from high consumption activities due to a contract dispute with Changsha Jincang Trading Co., Ltd, marking the eighth restriction this year [2] - Beijing Plant Doctor Cosmetics Co., Ltd has received approval for its IPO on the Shenzhen Stock Exchange, aiming to raise approximately 998 million yuan [3][4] - Sa Sa International announced plans to close all 18 offline beauty stores in mainland China by June 30, 2025, due to increasing operational pressures and a significant decline in sales [5] Group 2: Market Trends - Yingtong Holdings has successfully listed on the Hong Kong Stock Exchange, becoming the first publicly traded Chinese perfume company, with a market capitalization of approximately 2.72 billion HKD [6] - The trend of herbal ingredients in beauty products is gaining traction, with 76% of consumers preferring natural herbal products, driven by the "pure beauty" and "precise skincare" trends [9] - Korean cosmetics exports have surpassed those of the United States for the first time, reaching 3.606 billion USD in the first four months of the year, with a year-on-year growth of 20.3% [12] Group 3: Innovations and Leadership Changes - Byredo's founder and creative director Ben Gorham will step down, transitioning brand management to Puig Group, which acquired Byredo in 2022 [7] - Firmenich has launched a new fragrance design tool, ChériScentz, which utilizes neuroscience algorithms to enhance the fragrance creation process [10] - Estée Lauder has appointed Sara Staniford as the new vice president and general manager for its major makeup brands in the UK and Ireland, tasked with expanding market share [11]