Investment Rating - The industry maintains a "Recommended" rating, with a focus on new consumption sectors such as beauty care, IP derivatives, and gold jewelry [5][35]. Core Insights - The total retail sales of consumer goods in China for the first half of 2025 reached 24.55 trillion yuan, showing a year-on-year increase of 5%. In June, the retail sales totaled 4.23 trillion yuan, growing by 4.8% year-on-year, which was below the expected 8.4% due to the timing of the Dragon Boat Festival and the pre-release of demand during the 618 shopping festival [3][23]. - The beauty care sector is highlighted with significant developments, including the strategic expansion of Ai Er Bo Shi in Southeast Asia and the announcement of a new CEO at Kenvue [27][3]. - Bubble Mart is expected to see a revenue increase of no less than 200% and a profit increase of no less than 350% for the first half of 2025 [32][5]. Summary by Sections Market Performance - From July 14 to July 18, 2025, the trade retail, social services, and beauty care sectors experienced changes of +0.23%, +1.05%, and -0.14% respectively, ranking 18th, 13th, and 22nd among 31 primary industries [14][16]. Key Industry Data and News - In June 2025, the retail sales of consumer goods grew by 4.8%, with a total of 21.8 trillion yuan in goods retail sales for the first half of the year, reflecting a 5.1% year-on-year increase [23][22]. - The airline industry saw an increase in passenger flights, with nearly 118,000 flights executed nationwide in the 28th week of 2025, marking a 3.2% year-on-year rise [4][27]. Company Announcements - Bubble Mart's half-year performance forecast indicates a revenue growth of at least 200% and a profit increase of at least 350% [32][5]. - Other companies like Rongzi Co. and Longzi Co. also reported significant profit forecasts, with Rongzi expecting a profit increase of 31.74% to 55.69% [34][33]. Investment Recommendations - The report recommends focusing on companies such as Shangmei Co., Juzi Bio, Marumi Bio, and others within the beauty care and new consumption sectors [5][35].