Understanding the Market | CHICMAX rose over 6%, Han Shu topped the Douyin beauty list in March for GMV, institutions pointed out that the domestic brands benefit from the trend of replacing foreign goods
CHICMAX's stock price rose by more than 6%, with an increase of 6.58% as of the time of publication, trading at HKD 51, with a transaction volume of HKD 44.5158 million. The total GMV of the beauty category on the Douyin platform surpassed 23.5 billion yuan in March 2025, with Han Shu ranking first for five consecutive months. The Smart Factory of Shangmei Technology Park has been put into operation, becoming China's first AI intelligent cosmetics unmanned workshop. GuoXin Securities and ZheShang Securities are both optimistic about the company's long-term development under the trend of domestic product substitution
According to Zhitong Finance APP, CHICMAX (02145) rose over 6%, with a current increase of 6.58%, priced at HKD 51, and a transaction volume of HKD 44.5158 million.
In terms of news, according to Qingyan Intelligence data, the total GMV of the beauty category on the Douyin platform is expected to exceed 23.5 billion yuan in March 2025, a significant year-on-year increase of 44.7%. Among them, Han Shu continues to lead with a GMV of 600 million yuan, maintaining the top spot in Douyin's beauty category for five consecutive months. In addition, the company announced at the end of last month that the CHICMAX Technology Park smart factory has officially commenced operations. This smart factory, with a total investment of 300 million yuan and covering an area of 20,000 square meters, has a production capacity of 2 million bottles per day and a fully AI-integrated production system, making it China's first AI smart cosmetics unmanned workshop.
Guosen Securities pointed out that in the beauty and personal care sector, the retail sales of cosmetics from January to February 2025 increased by 4.4% year-on-year, slightly outperforming overall retail sales, and it is expected that the revenue of companies in the sector will perform better than the industry average, mainly benefiting from a clear trend of domestic product substitution. Zheshang Securities noted that CHICMAX is a leading domestic cosmetics brand with multi-brand influence, and its main brand Han Shu is a well-established domestic product targeting the mass market, possessing a strong mental foundation in the minds of Chinese consumers. The company currently has strong operational capabilities on platforms such as Douyin and Kuaishou, with good growth trends for new products and new channels, and a rich reserve of new brands, indicating optimism for the company's long-term development
