Market Review
Last week (12.6-12.10), the CSI 300 index rose 3.14%. According to the statistics of the key weight companies selected by us (listed in the 1.1 plate Market in detail), the beauty care industry portfolio rose 1.70%, of which the medical beauty / cosmetics / personal care products rose 5.57% / Rose 2.91% / fell 0.80% respectively.
Since the beginning of the year, the CSI 300 index has fallen by 3.00%. According to the statistics of the key weight companies selected by us (listed in the market of section 1.1 in detail), the beauty care industry portfolio has increased by 9.85%, of which medical beauty / cosmetics / personal care products have increased by 57.44% / decreased by 3.97% / decreased by 23.93% respectively.
Core view
The industry background of repeated epidemic in the early stage and strengthened supervision superimposed the weak performance of beauty care consumption, such as the slowdown in the growth of retail sales of cosmetics and daily necessities, and the overall market of the plate is under pressure. With the continuous overweight of policies, the normalization of industry supervision and the improvement of market pessimism, we believe that the growth certainty of the leading brands of compliant medical equipment and cosmetics is good. After the early adjustment, the current sector valuation has dropped to a reasonable range. We continue to recommend Imeik Technology Development Co.Ltd(300896) , Yunnan Botanee Bio-Technology Group Co.Ltd(300957) , and recommend paying attention to Lushang Health Industry Development Co.Ltd(600223) , Bloomage Biotechnology Corporation Limited(688363) , Shanghai Haohai Biological Technology Co.Ltd(688366) .
Key industry trends
China Integration Association takes the lead in releasing the price index of medical and American projects; The new regulations prohibit the publication of cosmetic advertisements for minors; Publicity of the list of medical and American institutions settled on the “China Medical and American” platform; Release of professional skill standards for Internet marketers, etc.
Announcement of key companies
Tencent became the second shareholder of Freida biology under Lushang; Imeik Technology Development Co.Ltd(300896) gannettpeak’s shareholding decreased to less than 5%; Shandong Xinhua Pharmaceutical Company Limited(000756) it is expected to launch the first medical beauty product by the end of the year; Bloomage Biotechnology Corporation Limited(688363) Tianjin sodium hyaluronate and related projects are planned to be postponed; Shanghai Haohai Biological Technology Co.Ltd(688366) spend another 70 million yuan to layout the OK lens market, hydrophilic heparin surface treatment, aspheric intraocular lens approval, etc.
Risk statement
Tip 1: risk of industrial policy change;
Tip 2: the terminal demand is less than expected.
