智通财经APP获悉，上美股份(02145)涨超8%，截至发稿，涨7.43%，报101.2港元，成交额4721.16万港元。
消息面上，据青眼情报，2025年9月抖音美妆TOP20品牌总GMV突破30亿元，市场份额为17.6%，同比增长38.59%，韩束以超5亿元GMV继续领跑。华源证券指出，2025年9月，抖音美妆类目GMV同比增长19.7%，环比下滑10.4%。从带货维度来看，国货品牌自营表现亮眼，TOP20美妆品牌榜单中自营大于达人推广GMV贡献率的品牌数占比达60%，自营GMV占比超50%的品牌均来自国货，其中韩束与百雀羚的自营GMV占比均超70%，显示国货品牌在自营渠道具备差异化竞争优势。
浙商证券表示，预计化妆品新消费品牌凭借产品升级和品牌建设有望在未来2-3年内收入及利润保持20%-30%的复合年增长率，景气度和确定性仍具备吸引力。Q3业绩看，淡季偏淡，部分公司收入增速环比走弱，考虑到双十一费用前置、流量成本上升，预计板块利润表现不如收入表现。该行预计毛戈平、上美股份业绩表现领跑行业。
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