（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问贵司目前的麦角硫因产品销售情况如何？ 科伦药业（002422.SZ）1月19日在投资者互动平台表示，公司目前已通过科伦永年微信小程序、天猫、 京东等平台对外销售麦角硫因系列产品。关于大健康赛道的发展，公司已经制定相应的规划，目前正在 稳步推进。 ...

Group 1 - The company has started selling its ergotamine series products through various platforms including WeChat Mini Program, Tmall, and JD.com [1] - The company has developed a corresponding plan for the development of the health sector and is currently making steady progress [1]

Investment Rating - The report maintains a "Positive" outlook on the cosmetics and medical beauty industry, highlighting strong performance in the sector [2]. Core Insights - The cosmetics and medical beauty sector outperformed the market, with the Shenwan Beauty Care Index rising by 3.7% from November 7 to November 14, 2025, surpassing the market average [3][4]. - The Double 11 shopping festival saw significant sales for domestic brands, with Proya leading sales on Tmall for three consecutive years, indicating a sustained rise of domestic brands [9][30]. - Proya has re-entered the men's skincare market, launching a new product line aimed at addressing various skincare needs, which is seen as a strategic move to enhance revenue and compete with international brands [30]. - Marubi Biotech announced plans for an H-share listing in Hong Kong to strengthen its capital base and international strategy, following similar moves by other domestic beauty brands [31]. Summary by Sections Industry Performance - The Shenwan Beauty Care Index increased by 3.7%, with the cosmetics index up by 2.5% and personal care index up by 3.7%, indicating strong sector performance [3][4]. - The Double 11 sales event resulted in high single-digit growth in online GMV for beauty products, second only to home appliances and clothing [9]. Key Company Developments - Proya's Q3 2025 revenue reached 7.098 billion yuan, a year-on-year increase of 1.89%, with a net profit of 1.026 billion yuan, reflecting a stable performance despite a slight decline in Q3 [10][11]. - Marubi Biotech's revenue for the first three quarters of 2025 was 2.45 billion yuan, a 25.51% increase year-on-year, indicating strong growth potential [31]. Market Trends - The cosmetics retail sector saw a 9.6% year-on-year growth in October 2025, driven by the Double 11 shopping festival, which boosted consumer demand [25][27]. - Domestic brands are gaining market share, with Proya and other local brands performing well against international competitors [34]. E-commerce Insights - Data from October 2025 shows that Proya achieved a GMV of 21.5 billion yuan across Tmall and Douyin, despite a 9% decline year-on-year, indicating resilience in a competitive market [24]. - The report highlights the importance of e-commerce channels for domestic brands, which are leveraging their advantages in pricing and local market insights to capture market share [34].

Investment Rating - The report maintains a positive outlook on the cosmetics and medical beauty sector, with specific recommendations for companies like Maogeping and Shangmei Co. [4][9] Core Insights - The cosmetics and medical beauty sector underperformed the market during the reporting period, with the Shenwan Beauty Care Index declining by 3.1% [5] - The upcoming Double 11 shopping festival is expected to boost sales for Shangmei Co. and Maogeping, with strong performance anticipated on platforms like Douyin and Tmall [4][9] - Key companies such as Proya and Shanghai Jahwa reported mixed results, with Proya's revenue for Q3 2025 at 1.736 billion yuan, down 11.63% year-on-year, while Shanghai Jahwa's revenue grew by 28% to 1.483 billion yuan [10][15] Summary by Sections Industry Performance - The cosmetics and medical beauty sector showed a decline, with the Shenwan Cosmetics Index down 2.6% and the Shenwan Personal Care Index down 0.9% [5] - The top-performing stocks included *ST Meigu (+12.3%) and Jinsong New Materials (+6.2%), while Huaxi Biological and Beitaini saw declines of 7.8% and 7.4%, respectively [5] Company Performance - Proya's Q3 2025 revenue was 1.736 billion yuan, a decrease of 11.63% year-on-year, with a net profit of 227 million yuan, down 23.64% [10] - Shanghai Jahwa reported Q3 revenue of 1.483 billion yuan, an increase of 28%, with a net profit of 140 million yuan [15] - Ruoyuchen's Q3 revenue reached 819 million yuan, up 123.4% year-on-year, with a net profit of 33 million yuan [18] Market Trends - The 8th China International Import Expo showcased major international beauty brands, highlighting trends such as high-end market targeting and AI technology in beauty research and development [27] - The report indicates that the Chinese market is evolving into a global innovation hub for beauty products, with a focus on sustainability and green transformation [27] E-commerce Insights - The report provides data on the performance of domestic brands on platforms like Douyin and Tmall, with Shangmei Co. achieving significant growth in GMV [21] - The overall retail sales of cosmetics in September 2025 grew by 8.6%, driven by pre-Double 11 promotions [22][24]