筑牢全链条保障体系 以品质与服务守护核心权益 近日，以 "大力提振消费 品质服务担当" 为主题的消费责任对话活动在成都成功举办，中国消费者协会常务副会长甘霖出席活动并讲话。 本次活动由中国消费者协会、四川省市场监督管理局指导，中国消费者杂志社、四川省保护消费者权益委员会、成都市市场监督管理局联合主办，成都 市保护消费者权益委员会承办。市场监管总局相关司局、部分省市市场监管局有关负责领导，全国28个省市消协组织秘书长及有关负责人参加了活动。 如新（中国）日用保健品有限公司应邀参与，如新大中华高级副总裁暨北京代表处首席代表李潮东在 "消费场景创新与服务品质升级" 主题环节发言， 并于会后接受媒体专访，分享了如新在消费者权益保护与服务创新方面的实践与思考。 作为一家上市公司，如新的业务遍及全球，深耕于美洲、亚洲、欧洲、非洲和太平洋地区的近50个市场。进入中国大陆市场 20 多年来，如新累计研发 上市 100 多款营养保健品和护肤化妆品，如新中国还曾五次荣获国家民政部颁发的中华慈善奖，积极践行 ESG 理念与社会公益责任。 锚定 ESG 核心框架 以新质生产力驱动健康产品创新 李潮东强调，对于践行 ESG 理念的跨国 ...

Investment Rating - The industry investment rating is "Outperform the Market" with an expected relative increase of over 10% in the next six months [25]. Core Insights - The fund allocation ratio for the beauty and personal care industry decreased in Q3 2025, with a total market capitalization of 284.799 billion yuan, reflecting a 2.79% increase from Q2 2025. The fund's total holdings in the beauty and personal care sector amounted to 6.796 billion yuan, resulting in a fund allocation ratio of 0.20%, which is a decrease of 0.12 percentage points from Q2 2025, indicating a continued underweight position [2][11]. - The medical beauty sub-sector is currently in an overweight position, while personal care and cosmetics are underweight. The fund allocation ratio for personal care products was 0.04% in Q3 2025, down 0.04 percentage points from the previous quarter. The cosmetics sector also saw a decline, maintaining a fund allocation ratio of 0.04% in Q3 2025, down 0.02 percentage points [3][16]. - The top three stocks by fund holding in Q3 2025 are Jinbo Biological, Aimeike, and Baiya Shares, with a total holding ratio of 0.07%, which is a decrease of 0.04 percentage points from Q2 2025 [4][18]. Summary by Sections Industry Overview - In Q3 2025, the beauty and personal care industry fund allocation ratio decreased to 0.20%, with an underweight ratio of -0.09%, indicating a continued low allocation [2][11]. Sub-sector Analysis - Medical Beauty: The fund allocation ratio peaked at 0.53% in Q4 2022 but has since declined to 0.12% in Q3 2025, with an overweight ratio of 0.03% in Q2 2025 [3][16]. - Personal Care: The fund allocation ratio was at a historical low from Q3 2021 to Q3 2022, with a slight recovery post-Q4 2022. The current ratio is 0.04%, indicating a shift from positive to negative overweight [3][16]. - Cosmetics: The fund allocation ratio has been declining since Q3 2022, currently at 0.04%, with an overweight ratio of -0.09% [3][16]. Stock Holdings - The top three stocks in the beauty and personal care sector by fund holding in Q3 2025 are Jinbo Biological (0.0254%), Aimeike (0.0195%), and Baiya Shares (0.0051%), all showing a decline in holding ratios compared to Q2 2025 [4][21]. Investment Recommendations - The report suggests focusing on cosmetics and medical beauty sectors due to significant demand potential in the long term, driven by the "beauty economy." It also highlights the importance of compliance and strong R&D capabilities in personal care products [5][24].

Core Insights - The conference highlighted the development of the prickly pear industry in Guizhou, emphasizing its nutritional value and market potential [1][3]. Nutritional Value - Prickly pear, referred to as the "golden fruit" of Guizhou, is rich in Vitamin C, SOD, polysaccharides, triterpenes, flavonoids, and other nutrients, offering ten health benefits including antioxidant properties and immune regulation [3]. - Academician Zhong Nanshan has recognized its effectiveness in enhancing immunity and assisting in the treatment of degenerative diseases [3]. Industry Development - Since its establishment in 2018, the company has helped farmers increase their income by over 200 million yuan [3]. - The company has developed a modern agricultural industry system based on a full industrial chain and circular development, contributing to rural revitalization in Guizhou [3][4]. Market Outlook - Water District is a major prickly pear cultivation area in Guizhou, with high altitude and significant temperature differences, leading to a longer growth cycle and higher Vitamin C content of 3541.13 mg/100g in the fruit [3]. - The company utilizes advanced processing equipment and immediate juicing processes to ensure deep retention of nutritional components [3]. - With the growing health trend, prickly pear is expected to become a fashionable health product [3]. Industry Index Report - The "Xinhua Water City Prickly Pear Industry Development Index Report (2025)" is the first systematic assessment of the regional prickly pear industry in China, showcasing a "triple win" in rocky desertification management, carbon sink development, and income increase [4]. - The index indicates a transition from "single-point planting" to "full-area resonance," establishing Water City as a core growth area for Guizhou's prickly pear industry [4]. - The company has received accolades such as "National Green Factory" and "National High-tech Enterprise," and the brand "Water City Prickly Pear" is evolving from a regional specialty to a national brand [4]. Future Outlook - The prickly pear index presents higher demands for technological breakthroughs to enhance product value, aiming for an integrated industry ecosystem from "planting and processing" to "tertiary industry integration" [5]. - The company plans to expand into international markets along the "Belt and Road" initiative, transitioning from a "regional specialty" to a "national health IP" [5][6]. - Future strategies include focusing on the entire prickly pear industry chain upgrade, strengthening the industrial foundation, and promoting brand and channel development to make Guizhou prickly pear a beloved "national health fruit" [6].

Core Viewpoint - The Wuyishan tea industry showcased its unique products at the 68th Guangzhou Beauty Expo, highlighting the potential for integration with the beauty and health industries [2][36]. Group 1: Event Overview - The 68th Guangzhou Beauty Expo opened on September 4, attracting numerous exhibitors and visitors [2][3]. - Wuyishan's tea industry development center organized a group of seven companies to participate, enhancing the event with the distinct aroma of Wuyishan tea [3][4]. Group 2: Cultural and Historical Significance - Wuyishan is recognized as a UNESCO World Natural and Cultural Heritage site and is the origin of Oolong and black tea, with a tea industry history dating back over a thousand years [7][8]. - The unique geological environment of Wuyishan contributes to the distinct flavor of its tea, particularly the "rock bone floral fragrance" [9]. Group 3: Product Highlights - Wuyishan rock tea, a representative of Wuyishan Oolong tea, is one of China's top ten famous teas, with notable varieties including Da Hong Pao and Tie Luo Han [10][11]. - The traditional production techniques of Wuyishan rock tea have been recognized as a national intangible cultural heritage since 2006 and were included in UNESCO's list of human intangible cultural heritage in 2022 [18][19]. Group 4: Market Potential and Future Plans - The participating companies brought a diverse range of Wuyishan tea products to the expo, aiming to increase awareness and explore the integration of tea with the beauty and health industries [25][26]. - The tea industry is gradually diversifying, with plans to develop related derivative products that combine tea with cosmetics and health supplements [39][40].

Core Viewpoint - The draft regulation aims to establish a comprehensive health promotion system in Hangzhou, addressing various health challenges and enhancing legal frameworks for health governance [1][2][3] Group 1: Health Services - The draft regulation focuses on creating a high-quality health service system, including a life-cycle health service framework and improved community healthcare services [1] - It emphasizes the establishment of a pre-death directive system and the promotion of mental health for students [1][2] Group 2: Health Security - The draft regulation proposes expanding basic medical insurance coverage to include non-local flexible employment workers and migrant workers [2] - It aims to innovate the integration of commercial health insurance with health management and establish a credit system in the health sector [2] Group 3: Healthy Living - The draft encourages citizens to take personal responsibility for their health, promoting awareness of weight management and healthy eating [2] - It suggests the implementation of health warning labels on high-salt, high-fat, and high-sugar products, as well as a health points reward system to motivate public participation in health activities [2] Group 4: Health Impact Assessment - The draft includes a dedicated chapter on health impact assessment, mandating evaluations for relevant plans, major policies, and projects [2] Group 5: Digital Health - The draft explores the use of digital technologies such as big data, AI, and blockchain to enhance smart healthcare applications and establish a data-sharing mechanism for health promotion [2] Group 6: Legislative Feedback - The legislative committee supports the draft's focus on health promotion and suggests enhancing the integration of health into all policies, addressing key public health issues, and leveraging AI in healthcare [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]