天眼查App显示，近日，广州春娇化妆品有限公司成立，法定代表人为陈军雄，注册资本2万人民币， 经营范围为互联网销售（除销售需要许可的商品）；化妆品批发；化妆品零售；日用品批发；日用品销 售；日用百货销售；电子产品销售；文具用品批发；文具用品零售；服装服饰批发；服装服饰零售；皮 革制品销售；箱包销售；市场营销策划；企业管理；企业管理咨询；供应链管理服务；品牌管理；网络 技术服务；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；信息咨询服务（不含许 可类信息咨询服务）；个人卫生用品销售；技术进出口；第一类医疗器械销售；第二类医疗器械销售； 国内贸易代理。 ...

（原标题：理肤泉百元喷雾被质疑成分只有水｜消费舆警指数） 事件回顾：近日，有网友在社交媒体上吐槽，质疑理肤泉舒缓调理温泉水喷雾是"智商税"，原因是该产 品成分只有水，并称"如果只是把水装进喷雾瓶里，为什么要卖到上百元？ 随后，"理肤泉上百元喷雾被指成本只有水"等相关话题迅速登上热搜。 编者按：消费者的信任与喜爱，是面向大众的消费企业最宝贵的市场资源。近年来，随着消费品牌与公 司经营全流程环节的绑定程度不断加深，每一次消费产品舆情的出现、演变和定调，既考验其品牌长期 建设和应急策略的有效性，也反映了其整体企业文化与运作机制中的特征。 南方财经全媒体 ·21 世纪经济报道消费新闻部长期关注消费类企业的舆情动态，在跟进新闻动态、传递 有效信息和反映消费者诉求的基础上，希望以每一次典型舆情案例的出现和应对为切口，观察企业在面 对突发性公共事件和舆论环境变化时的处理过程，从而以更全面的视角看待企业在品牌、市场运营管理 中的得失，从而为行业做出预警和警示。 为此，南财 ·21 消费新闻部综合企业在舆情预警与回应中涉及的公开操作维度，形成量化评分机制 —— 具体而言，包含舆情管理及响应、舆情回应、事件处理、品牌影响四个一级 ...

编者按：消费者的信任与喜爱，是面向大众的消费企业最宝贵的市场资源。近年来，随着消费品牌与公司经营全流程环节的绑定程度不断加深，每一次消 费产品舆情的出现、演变和定调，既考验其品牌长期建设和应急策略的有效性，也反映了其整体企业文化与运作机制中的特征。 21世纪经济报道 记者 吴立洋 实习生 涂玥 1.舆情事件：理肤泉百元喷雾被质疑成分只有水 事件回顾：近日，有网友在社交媒体上吐槽，质疑理肤泉舒缓调理温泉水喷雾是"智商税"，原因是该产品成分只有水，并称"如果只是把水装进喷雾瓶 里，为什么要卖到上百元？ 随后，"理肤泉上百元喷雾被指成本只有水"等相关话题迅速登上热搜。 涉及企业：欧莱雅集团 舆警分值： 南方财经全媒体·21世纪经济报道消费新闻部长期关注消费类企业的舆情动态，在跟进新闻动态、传递有效信息和反映消费者诉求的基础上，希望以每一 次典型舆情案例的出现和应对为切口，观察企业在面对突发性公共事件和舆论环境变化时的处理过程，从而以更全面的视角看待企业在品牌、市场运营管 理中的得失，从而为行业做出预警和警示。 为此，南财·21消费新闻部综合企业在舆情预警与回应中涉及的公开操作维度，形成量化评分机制——具体而言，包含 ...

天眼查App显示，近日，江西岚韵化妆品有限公司成立，法定代表人为孙丽华，注册资本1万人民币， 经营范围为许可项目：生活美容服务，医疗美容服务（依法须经批准的项目，经相关部门批准后在许可 有效期内方可开展经营活动，具体经营项目和许可期限以相关部门批准文件或许可证件为准）一般项 目：化妆品零售，化妆品批发，个人卫生用品销售，互联网销售（除销售需要许可的商品），中医养生 保健服务（非医疗），养生保健服务（非医疗）（除依法须经批准的项目外，凭营业执照依法自主开展 经营活动）。 ...

天眼查App显示，近日，江西本彩鑫和化妆品有限公司成立，法定代表人为邵国周，注册资本10万人民 币，经营范围为一般项目：化妆品零售，技术服务、技术开发、技术咨询、技术交流、技术转让、技术 推广，计算机软硬件及辅助设备批发，健康咨询服务（不含诊疗服务），企业管理咨询，图文设计制 作，会议及展览服务，项目策划与公关服务，市场营销策划，组织文化艺术交流活动，企业形象策划， 信息系统集成服务，日用百货销售，第一类医疗器械销售，卫生用品和一次性使用医疗用品销售（除依 法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

今年夏天"广州美妆"备受海外市场欢迎，防晒喷雾、控油轻薄底妆、清凉护理等防晒美妆产品源源不断 输往东盟、欧盟、拉美等海外市场。据广州海关统计，今年前7月，广州市出口化妆品约64.3亿元，同 比增长约45%。 广州是化妆品产业大市，具有头部企业集聚、科技创新能力强、市场辐射范围广等特点，年产值超过 1000亿元，产业规模占广东省70%以上。 撰文：刘倩 关悦 地处广州北部的花都区也是全国重要的化妆品产业集群和生产基地之一，现有化妆品生产企业300余 家，自主品牌商标及专利数量稳居全国前列。据统计，今年前7月，白云区出口化妆品约22亿元，同比 增长32.1%。 为助力防晒化妆品等"清凉经济"火热出海，广州海关所属花都海关开设"夏日专窗"，安排专员对出口防 晒产品开展申报前标签辅导及预审，实行提前申报、预约查验、优先查验等多项便利化措施，提高审 单、查验、出证效率，提升货物通关时效。同时，严格开展化妆品抽样检测和风险监测，重点排查化妆 品生产过程中的风险点，督促指导企业提高原料验收存放、生产流程、包装储存等关键环节的自检自控 能力，完善安全生产体系构建，确保出口化妆品质量安全。 为支持化妆品产业高质量发展，广州海关 ...

Core Viewpoint - The competitive landscape of the domestic beauty industry has shifted, with Juzhibio entering the top three and Betaini dropping out of the top five, highlighting significant changes in revenue and profit dynamics among key players [2][3]. Revenue Performance - Prolayya leads with a revenue of 5.362 billion yuan, followed by Shangmei with 4.108 billion yuan, and Juzhibio at 3.103 billion yuan, which represents a year-on-year increase of 22.55% [3][4]. - Betaini's revenue stands at 2.372 billion yuan, reflecting a decline of 15.43% compared to the previous year, marking a significant drop from its previous position as the third-largest player [3][4]. Profitability Analysis - Juzhibio reported a net profit of 1.182 billion yuan, up 20.2% year-on-year, while Betaini's net profit plummeted to 247 million yuan, a decrease of nearly 50% [4][8]. - The profit margin disparity is stark, with Juzhibio achieving a net profit margin of 37.9%, compared to Betaini's 10.4% [8][9]. Brand Strategy and Market Positioning - Juzhibio has successfully developed multiple sub-brands, such as Kefu Mei and Keli Jin, which contribute significantly to its revenue, while Betaini struggles with its primary brand, Weinuona, which has seen declining sales [4][15]. - The strategic focus on brand diversification and effective channel management has allowed Juzhibio to mitigate market fluctuations, whereas Betaini remains heavily reliant on a single brand [15][16]. Sales and Marketing Efficiency - Juzhibio maintains a lower sales expense ratio of 34.0%, while Betaini's sales expenses have surged to 54.2%, significantly impacting its profitability [8][9]. - The average selling price of Betaini's skincare products has decreased, contributing to its revenue decline, while Juzhibio's pricing strategy has allowed it to maintain higher margins [5][6]. Channel Development - Both companies initially built their brands through professional channels, but Juzhibio has expanded its direct sales and online presence more effectively than Betaini, which has seen a decline in offline sales [13][14]. - Juzhibio's direct sales accounted for 74.7% of its revenue, with significant growth in both online and offline channels, contrasting with Betaini's heavy reliance on e-commerce, which has faced challenges [13][14]. Future Outlook - The beauty industry consensus is shifting towards creating a brand matrix to diversify risk and extend growth, a strategy that Juzhibio has successfully implemented, while Betaini needs to develop additional brands to remain competitive [15][16].

Company Overview - The company has organized a post-performance NDR communication, indicating that short-term event impacts are gradually dissipating, with self-broadcasting continuing to show healthy and strong growth. Brand acquisition and influencer marketing are gradually recovering, suggesting that the upcoming Double Eleven shopping festival may further restore brand momentum [1][2] - The company is recognized as a leader in collagen products, with a strong outlook for future growth, and is advised to strategically position itself for the recovery opportunities during the Double Eleven season [1] Short-term Performance - In the first half of the year, the company optimized its self-broadcasting matrix and strengthened product selection strategies, maintaining good growth despite short-term event impacts. Monitoring data shows that the brand "可复美" achieved over 50% GMV growth in self-broadcasting and product card sales on Douyin during July and August, with repurchase rates remaining high, indicating limited impact on loyal customers [1] - Influencer marketing faced significant short-term impacts but is gradually recovering, with "可复美" achieving approximately 23% market share in influencer marketing during the industry off-peak period of July and August, showing a rebound from the event impact phase [1][2] Product Development - The company has successfully expanded its brand audience and product efficacy through single product cultivation since its listing. The foundational R&D and enhanced market insights have led to continuous improvement in the product development chain. The "可复美" brand has established multiple product lines, including collagen repair series and focus series, with the collagen repair series performing well in the first half of the year [2] - The core products of the "可丽金" brand also showed strong online growth, indicating a solidified market presence. The company's ability to cultivate single products is expected to continue supporting long-term brand growth [2] Upcoming Opportunities - As the Double Eleven shopping season approaches, the recovery of influencer marketing is expected to drive brand momentum back on track. The company maintains communication with top influencers, which has yielded positive results. Increased influencer marketing frequency is anticipated to boost marketing efforts and accelerate brand acquisition [2] - The company has made positive progress in obtaining certifications for three types of medical devices since the beginning of the year, which is expected to contribute to incremental growth in the future [2] Financial Forecast - The company maintains a profit forecast of 2.5 billion to 3.2 billion CNY for 2025-2026, with the current stock price corresponding to a P/E ratio of 21x for 2025 and 17x for 2026. The company maintains an outperform rating and a target price of 82 HKD, indicating a potential upside of 50% [2]

在换季时，干敏肌、油敏肌的朋友们是否也在为皮肤泛红、刺痛、干痒而烦恼？敏感肌在换季期也需要 一款能够舒缓泛红、修护屏障、保湿维稳的护肤品。到底什么护肤品才能高效舒缓修护、强韧屏障？敏 感肌用什么能够缓解换季不适？今天就为大家推荐几款适合换季期干敏肌、油敏肌或敏感肌应急使用的 舒缓修护产品，帮助大家轻松度过换季护肤难关。 榜一：谷雨光感水 成分党狂喜： 谷雨光感水搭载了谷雨具备完全自主知识产权的核心美白原料"极光甘草"。根据SGS实测数据，极光甘 草在72小时内黑色素含量可减少86.62%，能从源头精准阻黑、祛黄提亮。搭配麦角硫因+双重VC+牡丹 根提取物组成的抗氧矩阵，白天抗氧防暗沉，晚上修护提亮，不管是日常轻拍还是熬夜急救，效果都非 常能打。 使用半个多月： 上妆服帖，粉底液也不快速暗沉、不吃妆了！皮肤毛孔都细腻不少。 干敏肌、油敏肌换季护肤怎么选？ 如果你是干敏肌、油敏肌、混敏肌，又在寻找一款能提亮美白，又温和不刺激、修护屏障的精华水，谷 雨光感水绝对值得入手。其质地如水般清透，上脸 "嗖" 地一声就吸收，丝毫不粘腻，换季敏感期使用 毫无负担。 鼻翼、嘴角两侧的暗沉明显减退，脸上的黄气也消失了 敏感肌福音 ...

Core Viewpoint - The recent financial report from Proya Cosmetics reveals a significant slowdown in growth, with revenue increasing by only 7.21% and net profit by 13.80%, marking the lowest growth rates in five years [1][2]. Financial Performance - Proya's revenue for the first half of 2025 reached 5.362 billion yuan, while net profit was 799 million yuan [1]. - The revenue growth rate of 7.21% is a stark contrast to the previous year's peak of 37.9%, and net profit growth has decreased from 40.48% to 13.80% [2]. - The core brand "Proya" experienced a slight revenue decline of 0.08%, the first negative growth in five years, raising concerns about its competitive strength [2]. Marketing and Sales Strategy - The company has increasingly relied on high marketing expenditures, with sales expenses reaching 2.659 billion yuan, a 13.64% increase year-on-year, accounting for 49.59% of total revenue [2]. - This "investment for growth" model shows signs of fatigue, as the growth rate of sales expenses outpaces revenue growth [2]. Corporate Actions and Management Changes - Proya announced plans to issue H-shares for a Hong Kong listing to accelerate its international strategy, despite its overseas business currently contributing less than 5% to total revenue [3]. - The company is undergoing significant management changes, including the appointment of a new general manager and the departure of several key executives [3]. - Concerns have been raised regarding the motivations behind the Hong Kong listing, especially in light of substantial insider selling by executives [3]. Challenges and Strategic Vision - Proya faces challenges such as insufficient R&D investment, frequent product quality complaints, and high uncertainty in overseas market expansion [4]. - The company's "Double Ten" strategic vision aims to position it among the top ten global cosmetics companies within the next decade, necessitating a tenfold increase in its current scale [4].