HK Stock Market Move | Double 11 shopping festival boosts beauty concept stocks: FOREST CABIN (02657) up nearly 9%, CHICMAX (02145) up over 6%

Beauty concept stocks rose broadly today. As of press time, FOREST CABIN (02657) is up 8.74% at HK$56; CHICMAX (02145) is up 6.55% at HK$23.44; MAO GEPING (01318) is up 6.48% at HK$46.66; GIANT BIOGENE (02367) is up 1.42% at HK$22.92. On the news front, the Double 11 e-commerce shopping festival has officially kicked off recently. On October 15, Li Jiaqi's livestream launched beauty pre-sales, featuring 425 beauty products from 140 brands on the first day, with over 100 brands achieving high double-digit year-on-year growth and nearly 30 products exceeding 100,000 units in sales. Douyin launched its Double 11 shopping festival on October 15, with first-day transaction volume from brand beauty and personal care merchants up 101% year-on-year. Xiangcai Securities believes that pre-sale data for some beauty and personal care brands is optimistic, and investors should watch for upcoming Q3 earnings data. The sector's current valuation is at a relatively low historical level. After the Mid-Autumn and National Day holidays, Double 11 promotional activities have already begun, and combined with the capital rebalancing brought about by the temporary pullback in the technology sector, the recovery elasticity of the consumer sector deserves attention.