Main points:
Review of sector Market:
This week (3.7 ~ 3.11), Shenwan beauty care sector decreased by – 4.02%, weaker than the market. Shanghai Composite Index and gem index were – 4.00% and – 3.03% respectively. Shenwan beauty care sector lost 0.02 PCT to Shanghai Composite Index and 0.99 PCT to gem index.
Wind medical beauty and cosmetics index: this week, the CSI 300 index was – 4.22%, and the wind medical beauty index was – 4.83%, underperforming the CSI 300 market by 0.61pct; The wind cosmetics index was – 3.73%, outperforming the Shanghai and Shenzhen 300 market by 0.49pct.
Industry highlights:
FDA issued a quick view of drug administration policies: correctly understand the “Little Golden Shield” of children’s cosmetics. Consumers should correctly understand the “xiaojindun” mark, which is not a product quality certification mark. The label “xiaojindun” on the cosmetic package indicates that the product belongs to children’s cosmetics. It does not mean that the product has been approved by the regulatory authority or certified for quality and safety. (State Food and Drug Administration)
Company announcement:
Proya Cosmetics Co.Ltd(603605) : according to preliminary accounting, from January to February 2022, the company achieved a total operating income of about 630 million yuan, an increase of about 30% year-on-year; The net profit attributable to the parent company was about 60 million yuan, with a year-on-year increase of about 35%. During the 38 session of March 2022, sales of all brands of tiktok increased rapidly. Among them, the main brand Proya Cosmetics Co.Ltd(603605) Tmall official flagship store GMV grew by more than 200%, and the shaking platform GMV grew by more than 100% over the same period. Lushang Health Industry Development Co.Ltd(600223) : according to preliminary accounting, from January to February 2022, the company’s cosmetics sector realized an income of 220 million yuan, a year-on-year increase of 147%; The company’s revenue from raw materials and additives was 45.17 million yuan, a year-on-year increase of 12.4%.
Bloomage Biotechnology Corporation Limited(688363) : ① the annual report of 2021 was released. In 2021, the operating revenue was 4.95 billion yuan, with a year-on-year increase of 88%, the net profit attributable to the parent company was 780 million yuan, with a year-on-year increase of 21%, and the net profit deducted from non attributable to the parent company was 660 million yuan, with a year-on-year increase of 17%, and the basic earnings per share was 1.63 yuan / share. ② After preliminary accounting, from January to February 2022, the company achieved a total operating revenue of about 640 million yuan, a year-on-year increase of about 55%.
Sihuan medicine: ① a total of eight gynecological dressing products developed by the group’s Meiyan space have obtained the medical device registration certificate issued by the State Food and drug administration. Second, the company has recently entered into exclusive agency agreement with CELLBOOSTER Suisselle SA, and has obtained the exclusive agency right in Chinese mainland, Hongkong, Macao and Taiwan. ③ Xzp-km257, a class 1 innovative drug independently developed by xuanzhu biology, a subsidiary of the group, has successfully obtained the approval of the State Food and drug administration to carry out a clinical trial application for the treatment of advanced solid tumors with medium and high expression of HER2 +. This time, xuanzhu biological km257 was approved to carry out clinical trials, marking that xuanzhu biological’s first macromolecular drug has entered the stage of clinical development.
Imeik Technology Development Co.Ltd(300896) : the annual report of 2021 was released. In 2021, the operating revenue was 1.45 billion yuan, with a year-on-year increase of 104%, the net profit attributable to the parent company was 960 million yuan, with a year-on-year increase of 118%, the net profit deducted from the non parent company was 910 million yuan, with a year-on-year increase of 115%, and the basic earnings per share was 4.43 yuan / share.
Investment advice
(1) cosmetics industry: Proya Cosmetics Co.Ltd(603605) released the announcement on the revenue from January to February. Since the beginning of the year, the revenue has increased sharply, and 38 sections of marketing have come out again Bloomage Biotechnology Corporation Limited(688363) in 2021, the functional skin care products business led to a high increase in overall revenue. In the context of stricter supervision of the cosmetics industry, strong products + strong brands bring the possibility of breaking the brand circle, and continue to pay attention to the head cosmetics brands with strong R & D ability and brand strength. Attention: [ Yunnan Botanee Bio-Technology Group Co.Ltd(300957) ] subdivide the leader in the field of sensitive muscle skin care; [ Proya Cosmetics Co.Ltd(603605) ] diversified high-quality brands; [ Shanghai Jahwa United Co.Ltd(600315) ] multi category development and continuous innovation to create new items; [ Guangdong Marubi Biotechnology Co.Ltd(603983) ] focuses on medium and high-end, with rich marketing and distribution channels; [ Syoung Group Co.Ltd(300740) ] strong operation capacity and gradual improvement of category structure;
(2) medical beauty industry: the demand side of the medical beauty industry continues to expand, the supply side products are more diversified, and the policy side strengthens the supervision of medical beauty institutions and medical beauty products. We are optimistic about upstream medical and American enterprises with class III medical device certificate and perfect product matrix layout and downstream medical institutions with long-term standardized operation. Attention: [ Bloomage Biotechnology Corporation Limited(688363) ] local hyaluronic acid raw material leader; [ Imeik Technology Development Co.Ltd(300896) ] Tongyan needle is heavily listed, and differentiation meets higher demand; [ Huadong Medicine Co.Ltd(000963) ] overall layout of medical beauty business; [ Shanghai Haohai Biological Technology Co.Ltd(688366) ] integration of R & D, production and sales; [Sihuan medicine] botulinum toxin + double antibody go hand in hand; Pay attention to Lancy Co.Ltd(002612) etc. of the layout of downstream medical and aesthetic institutions.
Risk tips
The risk of intensified industry competition; Uncertainty of industrial regulatory policies; Macroeconomic fluctuations, etc.
