Investment Rating - The report does not explicitly provide an investment rating for the beauty industry Core Insights - The beauty retail industry is experiencing a dichotomy of price increases and decreases, influenced by cost pressures from tariffs and varying consumer preferences for high-end and value products [4] - Anti-aging skincare is projected to grow to a market size of 85 billion yuan by 2025, with an 11% year-on-year increase, driven by scientific advancements and consumer demand for long-term efficacy [4] - The color cosmetics segment is becoming a key driver for attracting younger consumers, with a focus on experiential marketing and social engagement [6] Industry Environment - The beauty retail sector is facing contrasting pricing strategies, with brands like Elf Beauty opting for transparent price increases while others like BeautyStat are lowering prices to boost sales. Brands are also focusing on product line optimization and e-commerce partnerships to reach price-sensitive consumers [4] - The anti-aging skincare market is shifting towards systematic scientific management, with international brands focusing on cellular repair and longevity science, while domestic brands are leveraging precision intervention and synthetic biology [4] - Color cosmetics account for 21.3% of the Chinese cosmetics market and are crucial for attracting young consumers, with a significant presence in top shopping malls, particularly in East China [6] Top Brand News - During the Double 11 shopping festival, domestic brands like Pechoin and TILOWE outperformed international brands, indicating a shift in market dynamics towards local products [6][7] - Li Jiaqi's live streaming sessions have become a significant trendsetter in the beauty category, with high-efficacy products gaining popularity among consumers [8] - Marubi Biological's revenue grew by 25.51% year-on-year during the Double 11 period, attributed to its focus on R&D and a successful single-product strategy [11]