Core Viewpoint - The 618 shopping festival this year marks a significant transformation in the e-commerce industry, shifting from complex marketing tactics to a focus on value creation and consumer needs, with Tmall reporting a 10% growth in GMV after refunds, the highest in three years [1][6][8]. Group 1: Simplification of Shopping Experience - This year's 618 event has simplified the shopping experience, moving away from complex discount structures to straightforward pricing, which has positively impacted conversion rates for brands [2][3]. - Tmall eliminated complicated "full reduction" rules, offering a basic discount of 15% off and up to 50% off, making the shopping process more user-friendly [3][4]. - The simplification of rules has reduced the burden of refunds and returns, allowing merchants to operate more efficiently and increasing the number of participating consumers [5][6]. Group 2: Shift in Consumer Behavior - The change in discount structure has led to a shift in consumer decision-making, focusing more on product quality and suitability rather than navigating complex rules [4][10]. - The increase in user participation and engagement during the 618 event indicates a successful transition to a more straightforward shopping experience, with Tmall reporting a double-digit growth in user numbers [5][6]. Group 3: Support for Quality Merchants - The e-commerce industry has been plagued by low-price competition and excessive marketing, which has eroded profit margins and quality [10][11]. - Tmall's strategic focus on supporting quality brands and products aims to shift the competitive landscape from price wars to long-term value competition [12][16]. - The recent initiatives by Tmall, including the introduction of a "real experience score" and support for original brands, have shown positive results, with a 9% revenue growth reported in the latest quarter [13][14]. Group 4: New Product Growth - The 618 event has seen significant growth in new product sales, with overall transactions for newly launched products increasing by 153% [18]. - Innovative brands have capitalized on the "new product dividend," with some achieving sales growth of up to 200 times during the event [19]. - The focus on quality and innovation is expected to drive sustainable growth in the e-commerce sector, moving away from a reliance on traffic and low prices [21].

Core Viewpoint - The beauty industry is experiencing a surge in interest in PDRN (Polydeoxyribonucleotide), with numerous domestic and international brands launching products featuring this ingredient, indicating a promising market outlook for PDRN in the coming years [2][3][5]. Group 1: Market Trends and Growth - The global PDRN market was approximately 180 million yuan in 2023 and is expected to reach 3 billion yuan by 2030, with a compound annual growth rate (CAGR) of 43% from 2024 to 2030 [2]. - Currently, there are 3,894 brands using PDRN, with 16,901 products containing this ingredient, showing rapid growth in the market [5]. - The PDRN market is characterized by a diverse range of players, including domestic brands like Zhanmei Ya and international giants like L'Oréal and Amorepacific, all actively entering the PDRN space [2][6][13]. Group 2: Product Innovations and Technologies - Zhanmei Ya's "Ball PDRN Energy Stick" achieved over 10 million in sales within a month of launch, highlighting the strong consumer demand for PDRN products [7]. - Various brands are employing innovative technologies to enhance PDRN's effectiveness, such as microencapsulation and lactobacillus vesicle technology, to improve skin absorption [29][30]. - PDRN is being integrated into a wide range of products, including serums and creams, with brands like CNP and Lancôme emphasizing its clinical-grade efficacy [9][11][30]. Group 3: Scientific Basis and Mechanisms - PDRN has a long history of use in the beauty industry, with established benefits in skin repair and regeneration, supported by over 600 research publications [14][23]. - The mechanism of PDRN involves promoting cell proliferation and regulating inflammatory responses, making it a valuable ingredient for anti-aging and skin repair [23][24]. - PDRN's unique properties, such as its non-antigenic nature and low toxicity, contribute to its safety and effectiveness in cosmetic applications [21][23]. Group 4: Challenges and Future Prospects - Despite its popularity, PDRN faces challenges related to its large molecular size and poor transdermal absorption, which are critical for its effectiveness in topical applications [29][30]. - The market is witnessing a trend towards artificial synthesis of PDRN, which could enhance production consistency and reduce costs, making it more accessible [39][41]. - As the market matures, there is a need for better consumer education regarding PDRN's benefits and limitations to avoid misconceptions about its efficacy [33][35].

Core Viewpoint - The Chinese beauty market is undergoing a significant transformation, with the emergence of new technology-driven domestic brands like Zhanmei Ya, which has successfully launched innovative products despite increasing competition and market saturation [2][3][14]. Market Overview - The total transaction value of the Chinese cosmetics market in 2024 reached 107.38 billion yuan, with a year-on-year growth of 2.8%. The top 1000 brands accounted for 55.2% of the market share, an increase of 2.9 percentage points compared to the previous year [3]. - The 618 shopping festival has become a critical battleground for brands to showcase their strengths, with over 1,300 brands doubling their sales in the first hour of the event [3]. Product Launch and Performance - Zhanmei Ya's "Qiu PDRN Energy Stick," launched in December 2024, became a key driver of the brand's growth, achieving over 10 million yuan in sales within the first month and ranking among the top 12 in the Tmall liquid essence category during the 618 event [6][20]. - The product's success is attributed to its innovative technology and strong market presence, as it has gained significant recognition on social media platforms like Xiaohongshu [8][12]. Technological Innovation - Zhanmei Ya's "Qiu PDRN" is a proprietary patented ingredient that enhances skin absorption and efficacy, utilizing a groundbreaking "super molecular micro-sphere" technology to improve the delivery of large molecular components like PDRN [14][20]. - This technology addresses the challenges of low permeability and bioavailability associated with traditional skincare applications of PDRN, positioning Zhanmei Ya as a leader in the PDRN skincare segment [15][36]. Scientific Communication and Brand Growth - The brand's rapid rise in popularity is also linked to effective scientific communication strategies, including collaborations with media and influencers to educate consumers about the benefits of their products [23][30]. - A documentary titled "The Skin Makers Go to Make Skincare Products" highlighted the journey of Chinese scientists in developing artificial skin technology, further enhancing the brand's credibility and consumer engagement [25][27]. Competitive Landscape - The global PDRN market is projected to grow significantly, with a compound annual growth rate (CAGR) of 43.32%, and the Chinese market expected to see a CAGR of 49.02% by 2029 [32][33]. - Zhanmei Ya's strategic foresight and technological advancements have positioned it as a representative domestic brand in the competitive PDRN skincare market, setting the stage for future growth and innovation [34][38].