1、 Industry: Amoy skin care recovered growth, and makeup continued to decline
(i) Market data
Alibaba. Com: in December 2021, beauty (skin care + color makeup) totaled gmv171 5.6 billion yuan, a year-on-year increase of - 24.26%; Among them, skin care gmv114 RMB 4 billion, a year-on-year increase of - 24.91%; Makeup gmv57 RMB 1.6 billion, a year-on-year increase of - 22.92%.
（2） Amoy top 20 brand
Skin care category: L'Oreal, Estee Lauder and Lancome were the top 3 in December;
Makeup category: Top 3 in December is Saint Laurent, perfect diary and huaxizi.
（3） Amoy system pattern
Skin care category: the overall decline of Amoy skin care. ① Among international brands, Helena has a high base and fast growth. ② Local famous baicaoji and Proya Cosmetics Co.Ltd(603605) performed better. ③ New cutting-edge brands Winona and runbaiyan have increased to a certain extent. Makeup category: Amoy makeup continued to decline sharply. ① In December, international brands Dior and Chanel expanded their market share, and the sales of Shimura show maintained the only positive growth year-on-year. ② Local famous brand Mao Geping accelerated the volume, and the sales increased by 8% year-on-year. 3. The overall performance of the new brands is weak. It is speculated that the social media platforms such as jitter and tiktok will diverge and double eleven big siphons will affect the performance.
2、 Subject: Yunnan Botanee Bio-Technology Group Co.Ltd(300957) , Proya Cosmetics Co.Ltd(603605) , Lushang's performance is better
Tmall official flag tracking of listed brands in December:
Proya Cosmetics Co.Ltd(603605) ： Proya Cosmetics Co.Ltd(603605) GMV1. 4.1 billion, yoy + 4%; Caitang was 35 million, a year-on-year increase of + 72%.
Yunnan Botanee Bio-Technology Group Co.Ltd(300957) : Winona gmv1 3.6 billion, yoy + 53%.
Huaxi: run Baiyan gmv0 3.9 billion, yoy-5%; Kwadi gmv0 2.4 billion, a year-on-year increase of - 56%.
Jiahua: Yuze gmv0 4.1 billion, yoy-51%; Baicaoji gmv0 1.9 billion, yoy + 19%.
Shuiyang: yunifang gmv0 1.5 billion, yoy-60%.
MARUMI: MARUMI gmv0 1.4 billion, yoy-60%.
Imeik Technology Development Co.Ltd(300896) : Hi Ti Gmv 260000, yoy + 17%.
Yixian: perfect diary gmv1 4.1 billion, yoy-66%.
December tiktok shop tracking: Proya Cosmetics Co.Ltd(603605) GMV0. 7.5 billion, perfect diary 36 million, and the performance continues to be excellent.
3、 Industry and company key events
The industry supervision is becoming stricter, and the measures for the supervision and administration of cosmetics production and operation will be officially implemented from January 1, 2022.
4、 Single product: the main brand develops new products, and the product change is accelerated
Amoy top 5 items: the top items of various brands changed greatly in December, mainly affected by seasonal changes, brand playing methods and regulatory changes.
New products: perfect diary launched "New Year's business card Lip Glaze" and "Shuiguang cat's eye" day throw; Proya Cosmetics Co.Ltd(603605) launched the "luminous silver box" All-Star gift box; Pill beauty new "double collagen" series facial essence; Embellish Yan Yan Xin two new throws: "whitening essence" and "repair luxury throwing oil". The new queen bee repair essence mask is on Yu Mu Fang.
5、 Investment advice
Sino Thai core recommendation: Yimei injection leader Imeik Technology Development Co.Ltd(300896) ; Sensitive muscle faucet Yunnan Botanee Bio-Technology Group Co.Ltd(300957) ; Hua Xi, who meets the needs of skin care ingredients
biology Volkswagen leader with high market sensitivity Proya Cosmetics Co.Ltd(603605) .
It is suggested to pay attention to: Sihuan medicine, which acts as an agent for meat poisoning, and comprehensively make efforts to Aoyuan Beauty Valley Technology Co.Ltd(000615) of photoelectric medical beauty track.
The risk indicates that the industry pattern is deteriorating; New product development and marketing results do not meet expectations; Data lag.
