化妆品医美行业周报：再生药械再添两员轻医美概念方兴未艾

申万宏源研究2025-07-13

本期投资提示：本周化妆品医美板块表现弱于市场。2025 年7 月4 日至2025 年7 月11 日期间，申万美容护理指数上涨1.5%，表现弱于市场。其中，申万化妆品指数上涨2.6%，强于申万A 指1.1pct；申万个护用品指数基本持平，弱于申万A 指数1.6pct。周观点：再生药械再添两员，轻医美概念方兴未艾。本周再生材料“童颜针”赛道2 款新品获批，一款由康哲药业独家代理的西宏医药的丽真然，一款...

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倍数相对较低的上美股份、珀莱雅；2)充分享受抖音流量红利，子品牌接力增长的丸美生物；3）把握细分赛道强心智，享受国潮美妆崛起、重组胶原蛋白崛起的毛戈平、巨子生物；4）高性价比消费逻辑，产品创新力强的润本股份、福瑞达。5）婴童连锁：孩子王。建议关注：上海家化、贝泰妮、华熙生物、水羊股份、逸仙电商。医美：把握研发拿证壁垒高、盈利能力强的上游环节公司，重点看好大单品驱动、产品管线布局广泛的标的；推荐：爱美客；建议关注：朗姿股份。电商代运营+自有品牌板块推荐：若羽臣；建议关注：南极电商。风险提示：宏观不确定性加剧；市场需求变动；行业竞争加剧；医美监管趋严。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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化妆品医美行业周报：再生药械再添两员 轻医美概念方兴未艾

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化妆品医美行业周报：再生药械再添两员轻医美概念方兴未艾