除了爱尔博士外，福瑞达公司的其他品牌如颐莲和科美表现相当优秀。颐莲在 去年进行了整体更新后，从玻尿酸保湿变成中国高保湿成分，并通过文化联名、 福瑞达 20250702 摘要 福瑞达旗下爱尔博士品牌正进行调整，预计 2025 年底完成，但因停播 消化乱价，今年业绩或持平。新品 287 面膜作为益生菌面膜升级版推出， 下半年业绩增长主要依赖此产品。 颐莲品牌完成升级，定位中国高保湿成分，通过文化联名和代言实现显 著增长，2.0 喷雾升级版贡献更高毛利率，蓬润系列表现出色，预计 2025 年实现两位数增长。 科美品牌在传输态技术上取得突破，胶原蛋白可透皮吸收，实现类似医 美效果，预计 2025 年实现三位数增长，直播间客单价高达 699 元，计 划 2026 年底或 2027 年获得三类证。 福瑞达公司预计 2025 年整体营收持平或略增，颐莲两位数增长，科美 三位数增长，爱尔博士持平。对 2026 年爱尔博士调整成功后的放量持 乐观态度。 福瑞达公司推出新原料王浆酸，具有抗衰老和修复功能，计划 7 月中下 旬在爱尔博士品牌下推出"精研精致"系列产品，定价亲民，通过中腰 部大播进行市场测试。 Q&A 福瑞达公司在 ...

Core Viewpoint - The Chinese cosmetics market has reached unprecedented heights, prompting a fundamental question: how to transform from "big" to "strong" and build core competitiveness that transcends cycles [2][6]. Group 1: Industry Overview - The Chinese cosmetics industry has evolved from a "channel king" model to a "traffic supremacy" model over the past decade, but is now facing the end of traffic dividends and increasing competition [6]. - According to the China Cosmetics Association, 22 Chinese brands made it to the Top 50 list, with a total retail value of 93.54 billion yuan, accounting for 39.98% of the total retail scale of the Top 50 brands [6]. - The overall market share of Chinese brands reached 55.2%, indicating that their success is not solely driven by leading enterprises but also by home-field and quantity advantages [6]. Group 2: Key Challenges and Opportunities - The industry is undergoing profound transformation and challenges, necessitating a return to the core values of brand building to ensure long-term stability and growth [6]. - The arrival of the "brand era" in the Chinese cosmetics industry hinges on four dimensions: R&D innovation, cultural heritage, sustainable development, and brand building [6]. Group 3: Conference Highlights - The conference featured discussions on enhancing brand value, with notable speakers from L'Oréal, Procter & Gamble, and other leading companies sharing insights [7][9]. - L'Oréal's North Asia President emphasized three strategic pillars for brand value enhancement: consumer-centric brand building, innovation driven by science and technology, and collaborative future creation [9]. - The conference also addressed the issue of "involution" in the market, highlighting its characteristics and the need for a shift towards quality and innovation [18][19]. Group 4: Brand Value Enhancement Strategies - The brand value roundtable discussed whether premium capability or user scale is more critical to brand value, with varying opinions from industry leaders [12]. - Strategies for enhancing brand value include trust elevation, experiential enhancement, asset elevation, and operational elevation [10]. Group 5: Sustainable Growth Paths - A report analyzed high-growth brands and identified key growth paths for top, mid-tier, and emerging brands, emphasizing the importance of system capabilities for larger brands and niche focus for mid-tier brands [22]. - The conference proposed a new ecosystem for the industry, advocating for collaboration and shared growth to combat fierce competition [31]. Group 6: Regulatory Environment - Recent government measures aim to combat "involution" in the market, including the revision of the Anti-Unfair Competition Law to prohibit forced low-price sales and data abuse [17]. - The introduction of the "2025 Cosmetics Industry Data Statistical Standards" aims to address data fragmentation and enhance decision-making capabilities within the industry [36][39]. Group 7: Future Outlook - The industry is expected to transition from a phase of chaotic growth to a more structured and value-driven approach, focusing on R&D depth, cultural richness, and ecological health [44]. - The next few years will be crucial for the Chinese cosmetics industry to evolve into a period that nurtures great brands through solid groundwork and innovation [45].

6月2 7日，由中国整形美容协会中医美容分会、国家中西医结合医学中心毛发专病医联体，以 及中国医药教育协会及其皮肤与健康教育专业委员会共同指导的"第二届薇姿DERCOS常见头 皮毛发疾病整全管理案例大赛年度总决赛暨头皮毛发健康临床进阶培训课程发布仪式"，于长 沙瑞吉酒店盛大举行，旨在共同推动中国头皮毛发健康事业迈向新的台阶。 在头皮健康问题日益受到社会广泛关注的当下，这场以"薇力健康，焕发新姿"为主题的行业盛 会，不仅成功汇聚了顶尖头皮毛发领域学术力量与青年精英，通过高水平的案例竞技提升青年 皮肤科医生的诊疗水平，更通过前沿培训课程的发布，开启了头皮毛发健康管理领域的全新篇 章，为"健康中国2 0 3 0 "战略注入新的活力。 本次盛会特邀国家中西结合医学中心毛发专病医联体负责人、中日友好医院毛发医学中心主任 杨顶权教授，中国医药教育协会皮肤与健康教育专业委员会主任委员、复旦大学附属华山医院 吴文育教授，北京大学第一医院杨淑霞教授，首都医科大学附属北京同仁医院魏爱华教授，浙 江大学医学院附属第二医院吕中法教授，重庆医科大学附属第二医院赵恒光教授等毛发医学领 域领军人物组成专家评审团。 评审团围绕脂溢性皮炎、雄 ...

Core Viewpoint - Huaxi Biological asserts that claims exempt from scientific verification are inherently pseudoscientific, emphasizing the necessity of measurable and verifiable scientific methods in the industry [1][2]. Group 1: Huaxi Biological's Position - Huaxi Biological argues that the absence of standardized testing methods does not negate the existence of scientific methods for validation, using their product "Runbaiyan" as an example of verifiable testing results for recombinant collagen [2][5]. - The company highlights the use of High-Performance Liquid Chromatography-High-Resolution Mass Spectrometry (HPLC-HRMS) as a reliable method to accurately measure recombinant collagen content, claiming it effectively avoids complex matrix interference [5][12]. Group 2: Response from Juzhi Biological - Juzhi Biological acknowledged the limitations of their existing quality standards and testing methods in a statement, indicating a need for continuous optimization to meet industry advancements [6][9]. - The company plans to collaborate with research institutions to enhance the qualitative and quantitative detection methods for recombinant collagen in cosmetics, aiming for greater transparency and industry standardization [9][10]. Group 3: Testing Method Controversy - The debate over testing methods arose when beauty blogger Dazui Doctor (Hao Yu) questioned the recombinant collagen content in a product, using a high-precision HPLC amino acid quantification method, which Juzhi Biological claimed was not included in industry standards [10][11]. - Experts noted that both HPLC amino acid quantification and HPLC-HRMS methods have their unique applications and challenges, particularly in detecting low concentrations of collagen in complex cosmetic formulations [12][13].

Core Insights - The Chinese cosmetics market is experiencing significant growth, with domestic brands accounting for a substantial portion of retail sales, yet individual brand sales remain relatively small [1][3][4] - The need for high-end domestic brands is emphasized as a critical factor for the industry's future development [2][6] - Shanghai is positioned as a global hub for cosmetics, leveraging its advantages in brand aggregation and innovation [2][7][8] Industry Overview - The total retail scale of the top 50 cosmetics brands in China for 2024 is projected to be 233.48 billion yuan, representing 21.74% of the national cosmetics market, which has a total retail value of 1,073.82 billion yuan [1] - Among the top 50 brands, 22 are Chinese, but they only account for 39.98% of the total retail revenue of these brands, which is lower than their overall market share of 55% [1][4] - The average sales scale of Chinese cosmetics companies is 4.116 billion yuan, which is lower than that of companies in the US (5.619 billion yuan) and France (5.22 billion yuan) [1] Market Dynamics - The Chinese cosmetics market has surpassed 1 trillion yuan for two consecutive years, making it the largest cosmetics consumer market globally, with a market transaction total of 1,073.82 billion yuan in 2024, reflecting a year-on-year growth of 2.8% [3] - Domestic brands have seen a rise in market share, with their transaction value accounting for 55.2% of the top 1000 online brands, an increase of 2.9 percentage points year-on-year [3][4] - The number of brands with transaction values exceeding 100 million yuan has reached 819, marking a historical high, with the number of super-large brands (over 5 billion yuan) increasing from 7 to 9 [4] Challenges and Opportunities - The market is characterized by a highly fragmented competitive landscape, with the top 10 brands holding less than 30% market share, indicating weak economies of scale [5] - The industry faces challenges in forming a brand pyramid structure, with a need for more high-end brands to achieve quality development [5][6] - The "14th Five-Year Plan" highlights the importance of cultivating high-end brands in the consumer goods sector, including cosmetics [6] Regional Development - Shanghai has implemented customs support measures to enhance the quality of the cosmetics industry, which includes optimizing inspection processes and improving service efficiency [7] - The city is a leading consumer market, with cosmetics retail sales reaching 56.246 billion yuan in the first five months of the year, growing by 3% [8] - The "Oriental Beauty Valley" in Shanghai has become a significant hub for cosmetics companies, accounting for 37% of the city's cosmetics enterprises and 40% of sales [8] Innovation and R&D - Strengthening R&D, cultural heritage, and brand building are crucial for the rise of domestic cosmetics brands [9] - The industry is focusing on technological advancements and exploring new materials, with a notable increase in the registration of new raw materials [4][9] - Companies are encouraged to integrate biotechnology and modern medicine into their product offerings to enhance competitiveness [10]

洞见 （DJ00123987） ——不一样的观点，不一样的故事，3000万人订阅的微信大号。点击标 题下蓝字"洞见"关注，我们将为您提供有价值、有意思的延伸阅读。 近日， 一位来自湖南的化学老师火了 他把高端美容院里动辄 几千上万 专供富人享受的 富勒烯美容 卖出了人人都能买的"亲民价" 这个举动引来不少 脸上长斑的女性朋友 欢呼雀跃 "这也太不可思议了吧" 原来普通人 一直触不可及的 "钻石成分富勒烯" " 竟然还能这么便宜？！ 如果你也总因为太贵的护肤品舍不得买 便宜的护肤品不敢用 甚至对"柠檬生姜"、"医美"效果不满意 那孟辉老师这个物美价廉的 "富勒烯美白淡斑技术" 就是一个不错的选择 但由于"售价过低" 触碰了某些人的利益 因此，现在这个风靡美容圈的逆龄传奇成分 一度被"贬值"成"智商税"？ 甚至故意引导消费者不要上当受骗 小心交了"智商税"？ 那我们今天就一起来见证一下 贵妇圈风流的富勒烯护肤 究竟是不是智商税？ 01 昂贵富勒烯 到底是不是智商税？ 口说无凭！咱们用事实说话 众所周知， 富勒烯这个传奇成分， 早在上个世纪90年代， 就 荣获了世界诺贝尔化 学奖。 它不仅被科学家誉为护肤界 诞生的 ...

Core Viewpoint - A beauty brand has been fined for false advertising regarding the efficacy of its product, specifically the "MAOGEPING BEAUTY Luxury Caviar Mask," which claimed to have a "soothing" function not included in its official registration [2][5]. Group 1: Company Actions and Penalties - Beijing Wugeng E-commerce Co., Ltd., operating the WeChat video account "BaiJiaErJie Ai FenXiang," was fined 4,539 yuan and had the same amount confiscated for selling the mask with misleading claims [2][5]. - The administrative penalty was based on the "Consumer Rights Protection Law of the People's Republic of China," which prohibits false or misleading advertising [6][7]. Group 2: Product Information and Misrepresentation - The "MAOGEPING BEAUTY Luxury Caviar Mask" is officially registered with claims of "repair," "moisturizing," "anti-wrinkle," and "firming," but does not include "soothing" as a function [6][8]. - The product was marketed as suitable for pregnant women, which contradicts its registration that specifies the user group as "ordinary people" [5][6]. Group 3: Industry Context and Trends - The issue of false advertising in the domestic beauty industry is not isolated, with many brands exaggerating or misrepresenting product efficacy to meet consumer demand for effective skincare [8]. - Previous cases include Lin Qingxuan and Proya, which faced penalties for similar misleading claims regarding "anti-aging" effects that exceeded regulatory definitions [8].

中国商报（记者 马嘉 文/图）"6·18"电商硝烟未散，众多品牌正休整以待下一轮鏖战。7月1日，在由中国香料香精化妆品工业协会、上海市奉贤区人民政府 主办的2025中国香妆品牌发展大会上，花王集团两位高管在接受中国商报记者采访时直言，不陷入行业"价格战"，坚守"高性能/合理价格"策略，并强调线 上与线下渠道平衡发展至关重要。 不陷入"价格战"希望以"高价值"突围 对于美妆品牌来说，选择不陷入"价格战"需要勇气。行业监测数据显示，超70%的美妆品牌在2024至2025年卷入"价格战"，其中有国际品牌在2024年累计发 起超过200场官方降价促销，部分单品折扣率高达50%。 花王（中国）研究开发中心总经理山崎律子表示："我们希望通过提供更高附加价值、价格合适的产品，满足年轻消费者的需求，让他们能够认可我们的品 牌，这也是我们在中国市场不断开发新产品的动力。" 花王集团化妆品研究开发中心总经理山崎律子。 花王（中国）化妆品事业总经理大仓诚一也表示："对于产品价格持续走低的现象，我们稍感忧虑，过度的价格竞争将损害行业的健康发展。当然，性价比 始终至关重要，这也是花王产品制造的基本原则。我们希望找到好的办法为消费者创造 ...

中新网上海7月2日电 (记者 陈静)"中国经济不断开放，我们必须来到中国。我们需要和中国经济结 合，确保未来的美妆行业能蓬勃发展。"美妆领域相关跨国企业北亚总裁及中国首席执行官博万尚 (Vincent BOINAY)1日在此间直言，中国的生态体系也越来越强劲。据悉，该企业被中国香料香精化妆 品工业协会授予"2025化妆品企业50强TOP1"荣誉。 中国香妆品牌发展大会1日在上海举行。中国香料香精化妆品工业协会产业研究中心主任姚永斌介 绍了《2025化妆品品牌TOP50》调研结果。据此，TOP50品牌占市场总零售额21.74%；中国品牌数量最 多，50强里面中国品牌有22个。 曾发起中国品牌节的王永在论坛上指出，要重构消费场景，要创造深度连接和情感共鸣，包括：线 上沉浸式的交互、线下高感性空间。 "中国化妆品品牌一定要走高质量发展的道路，要培育一批以消费者为中心的高端品牌。我们应该 向国际化妆品巨头学习。"姚永斌直言。 在颜江瑛看来，中国香妆品牌发展大会的核心意义就在于凝聚共识，汇聚智慧，共同探索中国化妆 品行业迈向高质量发展的品牌发展模式与路径。颜江瑛指出："中国香妆行业需要在研发创新上继续加 大投入，不断探 ...

Market Overview - The A-share market experienced a positive start in July, with the Shanghai Composite Index closing at 3457.75, up by 0.39%, and the Shenzhen Component Index closing at 10476.29, up by 0.11% [4][7] - The overall market sentiment showed a divergence in performance among different sectors, with the banking sector performing strongly while hard technology sectors faced declines [9][10] Industry Dynamics - The National Healthcare Security Administration and the National Health Commission issued measures to support the high-quality development of innovative drugs, including 16 specific initiatives aimed at enhancing R&D support, improving access to insurance, and optimizing clinical application processes [27][28][30] - Shandong Province released an action plan for the high-quality development of the robotics industry, targeting a manufacturing scale exceeding 50 billion yuan by 2027 and focusing on key technology innovations [31][33] - Beijing's market regulators published guidelines for cosmetic advertising to ensure compliance and protect consumer rights, emphasizing the need for accurate and responsible advertising practices [34] Company Updates - Liyuanheng (688499.SH) is progressing with its sulfide solid-state battery project, expected to be delivered before Q3, with revenue recognition pending customer acceptance [38] - Weisheng Information (688100.SH) has repurchased 3.5864 million shares, totaling 128 million yuan, as part of its share buyback plan [40]