---
title: "ZhaoYin International: In February, domestic beauty product sales showed strong growth; it is recommended to pay attention to MAO GEPING and others"
description: "Zhaoyin International released a research report, pointing out that as of March 11, beauty stocks have risen by about 47%. It is recommended to pay attention to domestic brands with high growth potent"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/231653682.md"
published_at: "2025-03-13T08:02:02.000Z"
---

# ZhaoYin International: In February, domestic beauty product sales showed strong growth; it is recommended to pay attention to MAO GEPING and others

> Zhaoyin International released a research report, pointing out that as of March 11, beauty stocks have risen by about 47%. It is recommended to pay attention to domestic brands with high growth potential, such as MAO GEPING and GIANT BIOGENE. February beauty sales data shows that domestic brands performed strongly on the Douyin platform, with significant growth in the skincare category, and overall online GMV increased by 18% year-on-year. In the current economic environment, cost-effectiveness is the main line of consumption, and the R&D capabilities and competitiveness of domestic beauty brands are continuously improving

According to Zhitong Finance APP, CMB International released a research report stating that as of March 11, the beauty stocks under focus have risen by about 47%. It believes that cost-effectiveness is the main line of consumption in the current economic environment, and the R&D capabilities of domestic beauty brands have gained international recognition and enhanced competitiveness. The bank recommends focusing on high-growth potential targets such as MAO GEPING (01318), GIANT BIOGENE (02367), and Marubi (603983.SH); high performance realization targets such as Proya (603605.SH) and Shangmei (02145); and targets with significant operational improvement potential such as Shanghai Jahwa (600315.SH) and Bethany (300957.SZ).

## CMB International's main points are as follows:

**February beauty sales data shows that domestic brands are making significant efforts on the Douyin platform, especially in the skincare category with strong growth.**

In the first two months, GIANT BIOGENE and MAO GEPING showed outstanding growth, while Marubi and Shanghai Jahwa showed significant improvement, with a noticeable increase compared to their quarterly growth rates in 2024. During the 38 major promotions, MAO GEPING performed brilliantly, successfully capturing the top spot in the Douyin makeup rankings. Proya/KanS still firmly holds the first place in the overall beauty rankings on Tmall/Douyin. In the current economic environment, cost-effectiveness remains the main line of consumption, and the R&D capabilities of domestic beauty brands are continuously gaining international recognition and enhancing competitiveness. The bank continues to be optimistic about targets with high growth potential, high performance realization, and significant operational improvement.

**February saw significant efforts from domestic brands on the Douyin platform.**

According to Magic Mirror data, the online GMV (covering both Taobao and Douyin platforms, including skincare and makeup categories) for beauty in February increased by 18% year-on-year and 1% month-on-month, reaching RMB 31.6 billion. The growth is mainly attributed to the efforts of domestic skincare brands on the Douyin platform, with notable performers including: Marubi (up 336% year-on-year/up 87% month-on-month), MAO GEPING (up 274% year-on-year/up 168% month-on-month), and Furida (up 141% year-on-year/up 132% month-on-month) (the above are brand data in the Douyin skincare category). In terms of monthly GMV by platform, Douyin's growth performance outperformed the Taobao-Tianxi system (up 38% year-on-year/up 8% month-on-month vs down 3% year-on-year/down 7% month-on-month); by category, the skincare category overall outperformed the makeup category (up 22% year-on-year/up 9% month-on-month vs up 9% year-on-year/down 13% month-on-month).

**Cumulative GMV for 2M25 increased by 10% year-on-year (compared to a 2% increase in January 2025).**

Among them, the year-on-year performance was outstanding for GIANT BIOGENE (up 85%), Marubi (up 85%), Shanghai Jahwa (up 58%), and MAO GEPING (up 38%); compared to the year-on-year growth rates in 2024, Marubi and Shanghai Jahwa showed significant increases. The brands with better performance across different categories and platforms are as follows: Taobao-Tianxi skincare: Shangmei +77%/GIANT BIOGENE +50%/Marubi +40%/Shanghai Jahwa +35%; Douyin skincare: Marubi +186%/MAO GEPING +147%/Shanghai Jahwa +146%/GIANT BIOGENE +111%; Taobao-Tianxi makeup: Marubi +21%/MAO GEPING +10%/L'Oreal +7%/Chanel +2%; Douyin makeup: Chanel +1248%/Lancôme +75%/Estée Lauder +65%/Proya (Caitang) +30%/MAO GEPING +35%/Marubi (Lianhuo) +23% **Mao Geping stands out in the March 8th promotion**

In the ranking during the promotional week around International Women's Day (March 3-8), Proya/Hanshu continued to hold the top spot on Tmall/Douyin. Proya rose from 4th to 2nd place in the Douyin beauty ranking compared to last year, while Caitang improved from 17th to 9th in the Douyin makeup ranking. Mao Geping made its debut on the list, ranking 16th/17th in beauty on Tmall/Douyin, and topped the Douyin makeup ranking for the first time.

**Risk Warning:** New product development may not meet expectations, product quality risks, and channel expansion may not meet expectations, etc

### Related Stocks

- [02367.HK - GIANT BIOGENE](https://longbridge.com/en/quote/02367.HK.md)
- [01318.HK - MAO GEPING](https://longbridge.com/en/quote/01318.HK.md)
- [603983.CN - Marubi](https://longbridge.com/en/quote/603983.CN.md)
- [BYTED.NA - ByteDance](https://longbridge.com/en/quote/BYTED.NA.md)
- [300957.CN - BTN](https://longbridge.com/en/quote/300957.CN.md)
- [09988.HK - BABA-W](https://longbridge.com/en/quote/09988.HK.md)
- [603605.CN - Proya](https://longbridge.com/en/quote/603605.CN.md)
- [LRLCY.US - L'Oréal S.A.](https://longbridge.com/en/quote/LRLCY.US.md)
- [600223.CN - Freda](https://longbridge.com/en/quote/600223.CN.md)
- [600315.CN - Shanghai Jahwa](https://longbridge.com/en/quote/600315.CN.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
