Group 1 - Revelyx Bio Inc. has recently completed a multi-million dollar Series A financing round led by NRL Capital, with funds aimed at advancing clinical research and commercial expansion of its products globally [3] - The company, established in Delaware in 2025, has exclusive rights to a recombinant botulinum toxin type A liquid formulation (003) in overseas markets, excluding mainland China and certain regions [3][4] - The 003 formulation is currently undergoing Phase II clinical trials in Australia, with plans to apply for Phase III trials by 2026, initially targeting glabellar lines and potentially expanding to upper limb spasticity [3][4] Group 2 - The NewCo model allows Chinese pharmaceutical companies to license their product pipelines to newly established companies, receiving cash and equity compensation, which helps mitigate risks and accelerate overseas market expansion [4] - The investment strategy focuses on a few core products with international competitive advantages, maximizing resource allocation to enhance product value [4] - The production of botulinum toxin has evolved from complex fermentation processes to recombinant technologies, which offer advantages in safety, reliability, and product purity [5][6] Group 3 - The liquid pre-filled formulation of botulinum toxin is designed for ease of use, aiming for higher concentration and lower injection volume, which could enhance the duration of anti-aging effects [6] - NRL Capital's healthcare team believes that the recombinant botulinum toxin liquid formulation will provide superior efficacy, safety, and lower immunogenicity, while overcoming resistance issues [6]

Investment Rating - The report maintains a "Buy" rating for the industry [7] Core Insights - The optional consumption sector showed positive performance in the week of June 2-6, 2025, with the retail, social services, and beauty care sectors increasing by 1.29%, 2.09%, and 1.56% respectively, outperforming the Shanghai Composite Index which rose by 1.13% [15][17] - The beauty care segment saw significant growth, with Douyin's beauty category GMV reaching 23.497 billion yuan in May 2025, a year-on-year increase of 18% [3][23] - Major events included the acquisition of a 65% stake in Silky by Kids Wang for 1.65 billion yuan, and the IPO plans of several companies in the beauty and retail sectors [5][34] Market Performance - The retail, social services, and beauty care sectors ranked 15th, 9th, and 13th among 31 primary industries during the reporting week [15] - The tourism and beauty segments experienced notable gains, with the tourism sector seeing a 14.8% increase in domestic travel [26][27] Key Industry Data and News - In the beauty care sector, foreign brands dominated the top 10 beauty brands on Douyin, capturing 7 out of 10 spots [3][23] - The cultural and tourism sector reported a revenue of 14.151 trillion yuan in 2024, marking a 6% increase year-on-year [26] - The retail sector is witnessing significant developments, including the opening of Kids Wang's first ultra store in Shanghai and the successful IPO of Pitanium Limited on NASDAQ [5][34][29] Company Announcements - Kids Wang announced the acquisition of a 100% stake in Silky for 1.65 billion yuan, enhancing its market position [34] - Shanghai Jahwa revised its employee stock ownership plan to include revenue growth metrics [35] - The company Fat East reported a sales figure exceeding 10 billion yuan for the year [34][33]