Hong Kong Stock Concept Tracking | Douyin, Taotian Beauty GMV Growth Shining. National Medical Products Administration Supports Domestic Beauty Brands Going Global (Attached Concept Stocks)

In January 2025, the GMV performance of beauty categories on Douyin and Taobao platforms was impressive, with a significant increase in Chinese brands. The GMV of beauty categories on Douyin increased by 6.37% year-on-year, with Chinese brands occupying 60% of the TOP20 in the skincare category; the overall GMV of beauty categories on Taobao platform reached 16.394 billion yuan, with outstanding performances from Chinese brands such as Proya Cosmetics and Hanshu. Xu Jinghe, member of the Party Group and Deputy Director of the National Medical Products Administration, conducted research on cosmetic regulation in Hunan, visited Shuiyang Group Co., Ltd., and held a symposium on the high-quality development of cosmetics with some cosmetic companies, industry associations, medical institutions, higher education institutions, and filing inspection and testing agencies to deeply understand the progress of cosmetic safety evaluation system in Hunan Province and the situation of raw material innovation and whole-life quality supervision. Xu Jinghe emphasized the need to strengthen the whole-life quality supervision in accordance with the risk management principles, ensure the main responsibility of enterprise quality and safety, uphold the safety bottom line of cosmetics, deepen the reform of the review and approval system, comprehensively strengthen the construction of the standard system, enhance the construction of regulatory capabilities, promote efficient governance, vigorously encourage innovation in cosmetic raw materials, support the 'going global' of domestic cosmetics, and promote high-quality development of the industry. Shanghai Securities Research believes that the long-term penetration rate of medical beauty is expected to continue to increase, and leading Chinese brands in the cosmetics industry are expected to continue leading with multiple advantages. Dongxing released a research report, stating that the current period is a waiting period for consumption policies, and policies released by relevant departments may pave the way for subsequent policies. Continue to focus on cosmetics and medical beauty consumption that pleases oneself. In cosmetics, pay attention to the increase in market share of leading domestic cosmetic brands, and the improvement in penetration rate of the medical beauty industry driving market expansion, and focus on creating new growth curves after the launch of new products. HK-listed companies related to beauty include: MAO GEPING (01318): The group's core brand MAO GEPING is the first high-end domestic beauty brand with high IP value that is difficult to replicate. Its makeup category is based on high barriers and high stickiness of base makeup, synergizing skincare business for increased efficiency, breaking through to higher price ranges, and opening up growth ceilings; its offline counters consolidate brand image and cultivate high stickiness consumers; online, it breaks through consumer boundaries and grows rapidly. The company is in a phase of rapid growth of brand momentum. Brands under MAO GEPING include MAOGEPING and Zhi Ai Zhong Sheng. The flagship brand MAOGEPING is the only domestic brand among the top 15 high-end beauty brands in the Chinese market. CHICMAX (02145): Data from Qingyan Intelligence shows that in 2024, the overall GMV of the top 20 brands in the beauty category on Douyin was 49.614 billion yuan. In 2024, the GMV of Hanshu brand on Douyin platform was 6.749 billion yuan, with a year-on-year growth of over 100%, clinching the first place in the 2024 Douyin beauty category list with absolute advantage. It is worth mentioning that in the 2023 Douyin beauty list, Hanshu also ranked first. GIANT BIOGENE (02367): A research report released by CMB International pointed out that the online GMV of GIANT BIOGENE's Kefumei and Kelijin products showed significant growth, and the group has raised its performance guidance for last year, expecting revenue growth of over 50% and net profit growth of about 40%. The company is optimistic about the rapid growth of its skincare product line this year, and is looking forward to the approval of its first recombined collagen injection product in the first quarter of this year.