Retail Channels
On November 29th, MINISO released its financial report for the third quarter of 2024.
The financial report showed that in the third quarter of this year, MINISO's total revenue increased by 19.3% year-on-year to 4.52 billion yuan, with a gross profit margin of 44.9%, which was 3.1 percentage points higher than that of the same period last year, hitting a new historical high once again.
MINISO stated in the financial report that the performance development in the first three quarters of 2024 was in line with the expectations of the company's five-year plan from 2024 to 2028. In the first three quarters of this year, MINISO's total revenue was 12.28 billion yuan, a year-on-year increase of 22.8%. The overseas business revenue exceeded 4.5 billion yuan, a year-on-year increase of 41%. The adjusted net profit was 1.93 billion yuan, and the adjusted net profit margin was 15.7%.
Brands and Industries
It is reported that Maogeping Cosmetics initiated the Hong Kong stock offering, which ended on December 5th and was planned to be officially listed on the main board of the Hong Kong Stock Exchange on December 10th, 2024.
Data shows that in November 2024, South Korea's cosmetics exports reached 9.3 billion US dollars (approximately equivalent to 67.572 billion yuan), surpassing the record of 9.2 billion US dollars (approximately equivalent to 66.845 billion yuan) in 2021 and hitting a new historical high. This growth trend has been steadily rising since 2014, growing from 1.8 billion US dollars (approximately equivalent to 13.078 billion yuan) to 8.5 billion US dollars (approximately equivalent to 61.736 billion yuan) in 2023.
Recently, Shandong Anhua Biomedical Co., Ltd. disclosed the Public Transfer Instruction Manual (Application Draft), and the company's listing materials for the New Third Board were accepted.
Recently, the Cosmetic New Raw Materials Filing Information Platform of the National Medical Products Administration showed that there were 3 new records of "cancellation of filing" for new cosmetic raw materials. The remarks indicated that the reason for the "cancellation of filing" was that these 3 raw materials were already managed as "used cosmetic raw materials". The 3 raw materials are: Black Ginseng Extract from Hunan So Young Biotechnology Co., Ltd., α-Glucan Hydroxypropyltrimonium Chloride from International Flavors & Fragrances Inc., and Sea Cucumber Peptide from Xi'an Huipu Biotechnology Co., Ltd.
On December 10th, the domestic beauty brand Maogeping successfully landed on the Hong Kong Stock Exchange, becoming the "first share of domestic makeup". The company globally offered 78.4234 million H shares, with the final offering price at HK$29.8 per share and the opening price at HK$47.65 per share. By the close of trading on that day, Maogeping was quoted at HK$52.6 per share, rising 76.51% compared to the offering price, with a total market value exceeding HK$25 billion (approximately equivalent to 23.354 billion yuan), surpassing that of Winona and Fujiale and ranking fourth among China's listed cosmetics enterprises in terms of market value.
Recently, Giant Biogene (HK.02367) underwent industrial and commercial changes. Its registered capital increased from approximately 330 million yuan to approximately 690 million yuan, with an increase rate of about 110%.
Recently, FineToday Co., Ltd. (hereinafter referred to as "FineToday Feitingsi"), which was spun off from Shiseido's personal care business, terminated its IPO plan. FineToday Feitingsi had planned to be listed on December 17th. However, the Tokyo Stock Exchange announced the cancellation of its listing approval on December 2nd.
On December 16th, according to the information officially released by BASF, Symbiocell®, an innovative cosmetic raw material in its personal care business segment, has successfully obtained the filing number in China. This means that, under the authorization of BASF, Symbiocell® is officially permitted to be used as a raw material for cosmetics in the Chinese market.
Symbiocell® is a unique active ingredient (its main components are: water, butylene glycol, Cestrum Latifolium Leaf Extract, xanthan gum, 1,3-propanediol, and caprylyl glycol). It has been proven by in vitro experiments that it can help maintain a healthy level of CD86 in skin dendritic cells and can effectively soothe sensitive skin and potential skin allergies.
On December 16th, the OGP radiofrequency skin treatment device independently developed by Hangzhou Time Machine Intelligent Electronic Technology Co., Ltd. successfully obtained the registration certificate for Class III medical devices in China, becoming the first product of this brand to obtain such certification. Up to now, only 3 domestic home beauty device brands have successfully obtained the registration certificates for Class III medical devices in China.
Recently, the financial report for the first half of fiscal year 2024 released by YA-MAN showed that as of October 31st, 2024, YA-MAN's operating revenue decreased by 32.4% year-on-year to 12.718 billion yen (approximately equivalent to 600 million yuan), and its net profit declined by 99.6% year-on-year to 6 million yen (approximately equivalent to 280,000 yuan).
On December 17th, the Ministry of Industry and Information Technology, the Ministry of Commerce, and the General Administration of Customs issued a notice on optimizing the supervision measures for the import and export of low-concentration triethanolamine mixtures (2024 version), and it was decided that the measures would come into effect as of January 1st, 2025. For goods such as non-medical disinfectants, synthetic detergent powders, cosmetics, inks, and relevant goods with a triethanolamine concentration lower than 10% (inclusive), except for single aqueous solutions of triethanolamine, there will be no need to apply for the "Approval Document for the Import and Export of Monitored Chemicals" and the "License for the Import and Export of Dual-Use Items and Technologies".
On December 16th, the National Bureau of Statistics released that the total retail sales of social consumer goods in November 2024 increased by 3.0%. From January to November, the total retail sales of social consumer goods were 44,272.3 billion yuan, a year-on-year increase of 3.5%. Among them, the retail sales of cosmetics in November were 43.4 billion yuan, a year-on-year decrease of 26.4%. In addition, for the whole period from January to November, the retail sales of cosmetics were 401.5 billion yuan, with a slight year-on-year decrease of 1.3%.
On December 16th, the brand Boscia under the Japanese FANCL Group released a store closure announcement on the Xiaohongshu and Tmall platforms, stating that its overseas flagship stores would cease operations.
On December 19th, the South Korean beauty brand fwee released a notice on its official Xiaohongshu account, announcing that it would start to adjust its internal operating system and suspend sales in its Tmall Global store, and the specific resumption date was undetermined. fwee stated that this decision was made to provide better services, while its customer service would still operate as usual.
Guangdong Marubi Biotechnology Co., Ltd. (Stock Code: 603983.SH) announced that the company's securities abbreviation had been changed from "Marubi Shares" to "Marubi Bio", marking the company's strategic upgrade in the field of biotechnology.
Recently, the new raw material sr-Mytilus edulis Polypeptide-3 of Bloomage Biotechnology was successfully filed (the filing number is Guo Zhuang Yuan Bei Zi 20240080). This indicates that Bloomage Biotechnology, which focuses on bioactive proteins, has achieved another breakthrough in research and development.
Ulta Beauty, a well-known beauty retailer in the United States, recently announced its performance in the third quarter of 2024, which exceeded expectations. The company's net sales in the third quarter were 2.53 billion US dollars (approximately equivalent to 18.375 billion yuan), a year-on-year increase of 1.7%; its gross profit slightly increased compared to the same period last year to 1 billion US dollars (approximately equivalent to 72.63 billion yuan). For the first three quarters, the net sales were 7.8 billion US dollars (approximately equivalent to 566.51 billion yuan), a year-on-year increase of 2%, and the gross profit also slightly increased to 3.1 billion US dollars (approximately equivalent to 225.15 billion yuan). The financial report pointed out that the growth in sales and gross profit was mainly contributed by new stores. In the third quarter alone, Ulta Beauty opened 28 new stores, and the number of operating stores reached 1,437 at the end of the quarter.
Recently, Shanghai Jahwa United Co., Ltd. and Juyuan Bio, one of the world's largest suppliers of recombinant collagen, jointly established Jiangsu Juyuan Shanghai Jahwa Biotechnology Co., Ltd., officially entering the competition in the recombinant collagen track.
The Hong Kong Stock Exchange announced that starting from 9:00 a.m. on December 9th, 2024, the listing status of the Babytree Group would be cancelled in accordance with Article 6.01A(1) of the Listing Rules. The group had been suspended from trading since May 2nd, 2023 and failed to resume trading by fulfilling the resumption guidelines on or before November 1st, 2024.
E-commerce Platforms
Baozun E-commerce announced the latest performance data. Its revenue in the third quarter increased by 12.8% to 2.1 billion yuan, and the net loss reached 88.1 million yuan, which was significantly narrowed compared to 130 million yuan in the same period of the previous year. Among them, the brand management segment performed outstandingly. Currently, the two brands, Gap and Hunter, managed by Baozun E-commerce, have a total of 146 offline stores.
Baozun E-commerce released its financial report for the third quarter of 2024 as of September 30th. The financial report showed that Baozun E-commerce's total net revenue in the third quarter was 2.057 billion yuan, a year-on-year increase of 12.8%; the operating loss was 115 million yuan; and the net loss attributable to the common shareholders of Baozun E-commerce Limited was 88.1 million yuan.
As of the third quarter of this year, the sales revenue of e-commerce business products of Baozun E-commerce was 454 million yuan, a year-on-year increase of 10%.
On November 28th, according to media reports, Kuaishou E-commerce announced on November 25th that due to adjustments in business content and comprehensive considerations and decisions by the platform, Kuaishou E-commerce would now abolish the "refund without return service". In the future, better service products will be launched for everyone to use.
International Conglomerates
On November 29th, Shiseido released the two-year "SHIFT 2025 and Beyond Action Plan 2025 - 2026", aiming to strengthen brand power and establish a high-profit structure. Shiseido plans to cut costs by more than 40 billion yen (approximately equivalent to 1.941 billion yuan) through the reform of the global cost structure from 2024 to 2025, and further cut 25 billion yen (approximately equivalent to 1.213 billion yuan) in 2026. Meanwhile, the group will invest an additional 30 billion yen (approximately equivalent to 1.456 billion yuan) in marketing expenses for its eight core brands. Shiseido anticipates that the core operating profit margin will increase to 7% by 2026. In addition, Shiseido will promote the global operation system, emphasizing the combination of a global perspective and local strategies to better meet the needs of consumers in different regions.