化妆品医美行业周报：国货代言人官宣热潮，品牌力关注度齐升

Investment Rating - The report maintains a positive outlook on the cosmetics and medical beauty sector, indicating that the sector has outperformed the market recently [4][5]. Core Insights - The domestic beauty brands are experiencing a surge in brand power due to the recent trend of celebrity endorsements, with brands like Proya and Marubi enhancing their market presence [4][9]. - The report highlights significant financial performance from key players, such as Cosmax, which reported a consolidated sales figure of 21.661 trillion KRW (approximately 10.98 billion RMB) for 2024, marking a 21.9% year-on-year increase [4][19]. - AI technology is being leveraged in the development of synthetic biological products, as evidenced by the recent C-round financing of over 500 million RMB for Ruide Lin Bio [4][20]. Summary by Sections Industry Performance - The cosmetics and medical beauty sector has shown resilience, with the Shenwan Beauty Care Index declining only 0.6% from February 21 to February 28, 2025, outperforming the Shenwan A Index by 2.0 percentage points [4][5]. - The Shenwan Cosmetics Index increased by 1.1%, and the Shenwan Personal Care Index rose by 3.3%, both outperforming the Shenwan A Index [4][5]. Key News Highlights - Cosmax achieved a significant milestone by surpassing 10 billion RMB in sales, driven by strong growth in both domestic and export markets [4][19]. - The report notes the successful launch of brand ambassadors for various domestic brands, which is expected to enhance brand recognition and consumer engagement [4][9]. Investment Recommendations - The report recommends several companies for investment based on their strong brand matrices and market positioning, including Proya, Shiseido, and Marubi [4]. - It suggests focusing on companies with robust product pipelines and high profitability in the medical beauty sector, such as Aimeike [4]. Market Trends - The report indicates that the Chinese skincare market reached a size of 281.8 billion RMB in 2023, with a year-on-year growth of 2%, highlighting the increasing market share of domestic brands [4][29]. - The color cosmetics market also saw a recovery, with a size of 61.8 billion RMB in 2023, reflecting a year-on-year growth of 11.2% [4][31].