Group 1: Industry Overview - The light industry and beauty sector is expected to stabilize and improve due to the dual drivers of domestic demand policies and steady export growth [3] - The "14th Five-Year Plan" marks a year of enhanced domestic demand policies, coupled with consumers' increasing pursuit of high-quality living, creating significant growth opportunities for the industry [3] - The penetration rate of cross-border e-commerce has ample room for improvement, and the recovery of international relations and demand from emerging markets will further drive market expansion [3] Group 2: Beauty Sector - The cosmetics market is projected to grow steadily, with the skincare segment being the largest, reaching a market size of 4,619 billion yuan in 2024, and expected to grow at a CAGR of 8.6% from 2024 to 2029 [19] - The high-end cosmetics market is rapidly expanding, with the market size for high-end skincare products increasing from 749 billion yuan in 2019 to 1,144 billion yuan in 2024, reflecting a CAGR of 8.84% [19] - Key companies in the beauty sector include: - **Mao Geping**: Revenue reached 25.88 billion yuan in H1 2025, with a growth rate of 31.28% [23] - **Lin Qingxuan**: Revenue grew to 10.52 billion yuan in H1 2025, marking a 98.28% increase [27] - **Marubi**: Revenue is expected to reach 29.70 billion yuan in 2024, recovering from previous declines [32] Group 3: Medical Aesthetics - The medical aesthetics sector is facing short-term pressure due to cautious consumer spending, but the long-term growth potential remains strong, with a projected CAGR of 10%-15% from 2024 to 2027 [36] - The market penetration rate for medical aesthetics in China is currently at 4-5%, indicating a growth potential of 2-5 times compared to countries like the US and South Korea [36] - Key companies in the medical aesthetics sector include: - **Jinbo Biological**: Achieved revenue of 12.96 billion yuan in Q1-Q3 2025, with a year-on-year growth of 31.10% [45] Group 4: Daily Chemicals - The daily chemical industry is benefiting from domestic demand policies, with local brands poised to capture market share [49] - Companies such as **Dengkang Oral Care** and **Runben** are highlighted for their strong market positions and growth potential [51][55] - **Shanghai Jahwa** has shown significant growth, with revenue reaching 49.61 billion yuan in Q1-Q3 2025, reflecting a 10.83% increase [59] Group 5: Home Furnishing - The home furnishing sector is under pressure due to weak real estate sales, with a 15% decline in residential investment in 2025 [65] - National subsidies for home appliances and furnishings have provided some support, but the long-term effects are limited [65] - Leading companies such as **Oppein Home** and **Kuka Home** are noted for their strong channel capabilities and multi-category layouts [65]

图南股份（300855.SZ）12月31日在投资者互动平台表示，目前，公司主营业务收入主要来源于国内市 场。近两年，公司出口产品销售收入占主营业务收入的比例在10%左右，其中包含对欧洲市场的出口， 该部分出口业务目前对公司整体经营业绩不构成重大影响。公司将在夯实主业的基础上，稳步拓展海外 市场的发展空间。 每经AI快讯，有投资者在投资者互动平台提问：公司存在部分的境外收入，但公司在年报中披露的均 是境内的客户，请问近两年是否与欧洲国家开展合作关系？ （文章来源：每日经济新闻） ...

海优新材（688680.SH）11月18日在投资者互动平台表示，对于欧盟市场，公司目前存在出口业务，但 业务量占公司整体营业收入比例较低，对公司经营业绩不构成重大影响。 每经AI快讯，有投资者在投资者互动平台提问：注意到公司有一定的国外收入，请问公司近两年 （23/24年）有出口产品到欧盟地区吗？ （文章来源：每日经济新闻） ...