Some Hong Kong-listed cosmetics stocks saw their gains expand during the trading session.

As of the time of writing, **MAO GEPING (01318)** had risen 9.69% to HK$65.65.

**CHICMAX (02145)** increased by 6.16% to HK$38.60.

**GIANT BIOGENE (02367)** was up 2.75% at HK$29.46.

A research report from Shenwan Hongyuan noted that the 618 shopping festival began in mid-to-late May and will officially enter its latter half next week.

Currently, international brands are temporarily leading the cosmetics sales rankings on the Douyin platform.

It is expected that in the second half of 618, domestic brands like Proya, Kans, and MAO GEPING will receive increased platform traffic support and live-streaming promotion time, leading to a rise in their performance and an acceleration in GMV growth.

On the Tmall platform, top live-streamer Li Jiaqi is expected to add more beauty product broadcasts in the latter half of 618, boosting sales for his partner brands.

Huayuan Securities added that cosmetics have been included in local consumption subsidy programs for the first time.

The subsidy intensity is likely to further favor leading, high-quality cosmetics brands.

Although the transaction amount per beauty purchase is lower than for home appliances, the consumption frequency is high, coverage is broad, and the industry chain driving effect is strong.

Therefore, it is believed that national subsidies for cosmetics may increase the conversion rate for high-ticket items, benefiting leading quality brands in gaining further market share.