The performance of female consumption surpassing the best in the consumption track has made more and more managers begin to "favor women over men" on the core.
Recently, some cosmetics** have hit a record high and even doubled their stock prices in a weak market in 4 months, breaking the traditional impression of flat consumption in the market. Based on the fact that the growth of consumption mainly comes from the preference of female consumers and the high growth of the performance of listed companies, many managers including the post-60s and post-70s have begun to strengthen the proportion of female consumption between cosmetics and liquor, and some of the top managers over the age of 50 have a much weaker proportion of liquor than those of medical beauty cosmetics.
Heavy medical beauty and light liquor.
Although the overall performance of consumption is flat, the new consumption held by managers, especially the female consumption track, has taken more share.
Behind the Harbin boom is actually the rise of the main force of female consumption, you don't always equate consumption with liquor, although the growth of consumption ** is relatively flat, but we observe that the growth of new consumption is extremely strong. A consumer manager in the northern region told the brokerage China reporter, observing the channel feedback in the past period of time, the overall growth of new consumption on behalf of the new economic trend is extremely strong, and the income and profit growth given by many new consumer listed companies have also exceeded market expectations, especially the rise of female consumers has become a fact, education and training, tourism and beauty and health care are now the three major consumer goods categories of women, which indicates that the main force of future consumption growth may gradually turn.
Previously, the Harbin boom from the "small potatoes in the south" and why they are all female tourists and other concerns have continued to swipe the screen, and this also confirms the fact that new consumption has greatly strengthened the characteristics of female consumption, and even some post-70s and post-60s ** managers have also followed the trend and shifted from the heavy stock "liquor" consumed by men to the "cosmetics" consumed by women.
Brokerage China reporters noticed that Shi Bo, a top ** manager over 50 years old, gave a larger ** to female consumption in the latest issue of the **heavy position, and more restrainedly diluted the proportion of liquor positions. According to the position information disclosed by the Southern Hong Kong Stock Innovation Vision** at the end of December 2023, Shi Bo has added the most popular medical beauty stock in the top ten heavy stocks. How does this uncle-level manager deal with the weight of female and male consumption? As of the end of December last year, his top 10 core holdings of medical beauty stocks** reached 7%, while his holdings of male consumers such as Zhenjiu Li Du were only 461%。
Uncle-level managers over 50 years old are still "women over men" in the consumption track, and young **managers and even female **managers who naturally have a sense of intimacy with new consumption are more prominent in the core positions of female consumption, such as Wang Ran and Cai Shangjun, two young **managers who manage the theme of oriental urban consumption**, as a female** manager, Wang Ran is obviously more familiar with female consumption.
According to the positions disclosed by the Oriental Urban Consumption Theme, as of the end of last year, Wang Ran allocated almost all of the top ten heavy stocks of the consumer theme to cosmetics and medical beauty, and the top ten covered nine major medical beauty cosmetics companies, the first largest heavy stock is Huadong Medicine (000963), which has an advantage in the medical beauty botulinum toxin business, in addition, it also holds a large number of positions in Bethany, Proya (603605), Aimeike, Langzi shares (002612), S'YOUNG shares and other beauty and makeup track varieties.
Continue to attract public fundraising research.
The stock prices of some female consumer products such as cosmetics have hit new highs or even doubled in the market adjustment, which also highlights the strong attraction of female consumption to ** managers.
Affected by the continuous economic recovery, coupled with the overlap between the performance disclosure period of listed companies and the "March 8" International Women's Day promotion, the performance of the medical aesthetic category continued to exceed market expectations. This week, the share price of Hong Kong-listed cosmetics company Shangmei hit a new high since its listing, and the share price rose by 74% in the first three months of this year.
Shangmei is the parent company of Han Shu, a well-known cosmetics brand, and the company is also a major competitor of A-share listed companies Proya and Marubeni (603983), which are roughly similar in terms of establishment time, product positioning and brand strategy. On March 1, Shangmei issued a "positive profit forecast" in Hong Kong stocks, which showed that Shangmei expects to have an annual revenue of 4 billion yuan to 4.2 billion yuan in 2023, a year-on-year increase of 495% to 57%; It is expected to achieve a net profit attributable to the parent company of 4$200 million to 4600 million yuan, a year-on-year increase of 1855% to 2127%。The success of the Han Shu brand, especially its strong performance on the Douyin platform, has provided important support for the performance growth of Shangmei shares. According to the latest data, from January to February 2024, Han Shu's total product turnover on the Douyin channel reached 1.4 billion yuan within two months, continuing to lead the list of beauty brands.
In addition, due to the importance of female consumers to "white", Covestro Co., Ltd., the largest sunscreen and perfume raw material company in the A-share market, has frequently received public offering ** surveys since the beginning of the year. According to the record of investor relations activities released by Covestro on March 5, the company was investigated by 11 institutions including Bosera**, Cathay Pacific**, Fuguo**, and China Universal on the same day.
*In the investigation, the manager obviously noticed that the strong procurement ability of major cosmetics giants for sunscreen raw materials has become the core of Covestro shares' amazing profits**. Covestro recently announced its 2023 annual performance forecast, and the net profit attributable to shareholders of listed companies in the reporting period will reach 7200 million yuan - 7600 million yuan, an increase of 85 percent over the same period last year50%—95.80%, this astonishing profiteering and performance increase, in the context of the overall flat performance of consumption** in 2023, especially shows the purchasing power of women's consumption.
There is a lot of room for new consumption increments.
Although the current consumer demand is still weak, the consumption stickiness of the medical beauty industry is relatively high and the performance certainty is relatively strong, so we will continue to pay attention to the incremental opportunities brought by new technologies, new models, new varieties and new markets in related fields in the future.
Among the top 10 heavy stocks, Galaxy Lohas Youcui**, which also "favors women over men" between cosmetics and liquor, also explained that the allocation idea is to dilute short-term disturbances, emphasizing the allocation of listed companies with a margin of safety and a positive fundamental trend. Optimistic about the new trend of the consumption track from a medium- to long-term perspective: China's local market is vast and the regional economic development stages are different, which can accommodate consumer goods companies at different levels to become stronger and bigger, and import substitution and internationalization of overseas make the development prospects of Chinese enterprises in high value-added fields broad.
Wang Jing, manager of Qianhai United **, also pointed out that most of the listed companies in the medical cosmetology sector maintained a revenue growth rate of more than 30% in the first three quarters of last year, and the profit growth rate was higher, especially the growth rate of domestic high-end new products was considerable. In the cosmetics sector, after experiencing the replenishment of inventory during the epidemic and the decline in the traffic dividend of traditional channels, the performance differentiation in the industry has intensified, and the brands that can grasp the dividends of emerging channels such as interest e-commerce have shown strong alpha attributes, especially the innovation advantage of some overseas cosmetics brands has weakened and the safety is questionable, and high-quality domestic products have taken advantage of the situation to gain a larger market share.