回顾美容护理板块表现:SW美容护理指数经过22-24年的回调,于25H1回暖,期间最高涨幅超15%并成为新消费领域重点板块。25H2美护指数受需求端略疲软及交易层面影响,跑输SW A指大盘,预计25Q4-26Q1受板块轮动及消费效应带动,增速再提。化妆品:4P视角发掘品牌端长期成长标的,上下游困境反转建议关注。化妆品品牌端竞争激烈,国货在研发、渠道等全方面突围,国际品牌在华触底反攻,采用更本土化...
Source Link回顾美容护理板块表现:SW美容护理指数经过22-24年的回调,于25H1回暖,期间最高涨幅超15%并成为新消费领域重点板块。25H2美护指数受需求端略疲软及交易层面影响,跑输SW A指大盘,预计25Q4-26Q1受板块轮动及消费效应带动,增速再提。化妆品:4P视角发掘品牌端长期成长标的,上下游困境反转建议关注。化妆品品牌端竞争激烈,国货在研发、渠道等全方面突围,国际品牌在华触底反攻,采用更本土化...
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