Core Viewpoint - Lin Qingxuan (02657) has seen a significant stock price increase, reaching a new high of 96 HKD, with a current price of 92.55 HKD, reflecting an 8.50% rise and a trading volume of 49.31 million HKD [1][4]. Company Overview - Lin Qingxuan is a high-end domestic skincare brand in China, focusing on anti-wrinkle and firming skincare products, known for its commitment to natural ingredients, particularly camellia oil [1][4]. - According to Zhi Shi Consulting, Lin Qingxuan ranks first among all high-end domestic skincare brands in China by retail sales, holding a 1.4% market share, and is the only domestic brand in the top 15 high-end skincare brands in China, which includes both domestic and international brands [1][4]. Analyst Coverage - Guotai Junan Securities has initiated coverage on Lin Qingxuan, giving it a "Buy" rating. The company has been deeply involved in the oil-based skincare segment for years, with Douyin (TikTok) contributing to the explosive growth of its flagship products. The company is expected to achieve sustained rapid growth through category expansion and channel diversification [1][4]. - The projected earnings per share (EPS) for Lin Qingxuan from 2025 to 2027 are estimated at 2.75, 4.18, and 5.49 RMB, respectively. Considering both price-to-earnings (PE) and price-to-sales (PS) valuation methods, the company is assigned a fair valuation of 14.9 billion RMB (approximately 16.6 billion HKD), with a target price of 118.57 HKD, corresponding to a 2025 PE of 26x [1][4].

Core Viewpoint - Lin Qingxuan (02657) has seen a significant stock price increase, reaching a new high of 96 HKD, reflecting strong market performance and investor interest in the high-end skincare segment [1] Company Overview - Lin Qingxuan is a high-end domestic skincare brand in China, focusing on anti-wrinkle and firming skincare products, known for its use of natural camellia ingredients [1] - According to Zhi Shi Consulting, Lin Qingxuan ranks first among all high-end domestic skincare brands in China by retail sales, holding a 1.4% market share, and is the only domestic brand in the top 15 high-end skincare brands, which includes both domestic and international brands [1] Market Position and Growth Potential - Guotai Junan Securities reports that the company is well-positioned in the high-end skincare market and has entered a growth phase, particularly in the oil-based skincare segment, with expectations for continued high growth driven by flagship products and expansion on platforms like Douyin and offline channels [1] - Dongwu Securities suggests that Lin Qingxuan is in a growth phase characterized by brand momentum and channel benefits, recommending investors to pay close attention to the company [1]