The performance of constituent stocks was excellent. The medical and American sector swept away the "haze" of policy and rebounded violently for three consecutive days!
10月13日，医美概念股再度走强，金发拉比涨停，朗姿股份、奥园美谷涨超8%，悦心健康、澳洋健康、贝泰妮、爱博医疗等跟涨。
On October 13, Yimei concept stocks strengthened again, blonde Rabbi rose by the limit, Langzi shares and Aoyuan Meigu rose by more than 8%, followed by Yuexin health, Aoyang health, betaine and Aibo medical.
值得注意的是，医美概念股中朗姿股份此前已经连续三日涨停，10月8日至今累计涨幅高达39%。就在昨日，10月12日，朗姿股份发布了2021年三季度业绩预告，公司预计前三季度实现净利润1.47亿元-1.65亿元，同比增长194.04%-230.04%；第三季度净利润5368.31万元-7168.31万元，同比增长1.54%-35.58%。
It is worth noting that Langzi shares in medical beauty concept stocks have been trading for three consecutive days, with a cumulative increase of 39% since October 8. Just yesterday, on October 12, Langzi released the performance forecast for the third quarter of 2021. The company expects to achieve a net profit of 147-165 million yuan in the first three quarters, a year-on-year increase of 194.04% - 230.04%; The net profit in the third quarter was 53.6831 million yuan - 71.6831 million yuan, a year-on-year increase of 1.54% - 35.58%.
相较于公司上半年的业绩表现，三季度公司的业绩增速出现了放缓，主要是受到了基数效应的影响，2020年上半年公司高端女装业务受新冠疫情影响较大、低基数效应较为显著，下半年随着疫情逐步消除、高端女装逐步恢复故而导致公司2020年的业绩前低后高。
Compared with the company's performance in the first half of the year, the company's performance growth slowed down in the three quarter, which was mainly affected by the cardinal effect. In the first half of 2020, the high-end women's clothing business was greatly influenced by COVID-19 and the low base effect was more significant. In the second half of the year, with the gradual elimination of the epidemic situation and the gradual recovery of high-end women's clothing, the company's performance in 2020 was lower and higher.
剔除上述女装业务影响，公司的医美业务发展顺利，前三季度公司各新开3家晶肤轻医美机构，数量不断扩充。国金证券表示，预计2021年四季度公司的开店数将继续走高；预计3Q2021医美业务营收保持快速增长，分新老机构看，预计老机构贡献主要业绩，新机构仍处于培育期、对医美业务总体盈利水平有所拖累、预计报告期内公司医美净利率较上半年有所下降。
Excluding the influence of the above women's wear business, the company's medical beauty business developed smoothly. In the first three quarters, the company opened three new crystal skin light medical beauty institutions, and the number continued to expand. Guojin Securities said that it is expected that the number of stores opened by the company will continue to rise in the fourth quarter of 2021; It is expected that the revenue of 3q2021 medical beauty business will maintain rapid growth. According to the new and old institutions, the old institutions are expected to contribute to the main performance. The new institutions are still in the cultivation period, which has a drag on the overall profitability of medical beauty business. It is expected that the net interest rate of the company's medical beauty in the reporting period will decrease compared with the first half of the year.
医美板块中不仅是朗姿股份一家公司的业绩优异，奥园美谷也于10月12日发布了3Q2021业绩预告。预告显示，报告期内公司预计实现归母净利润2-2.5亿元，同比增长308%-360%，实现扭亏为盈。单看Q3季度预计实现归母净利润1.5-2亿元，较去年同期实现55-107%的增长，业绩表现大幅超出市场预期。
In the medical and beauty sector, not only is Langzi a company with excellent performance, but Aoyuan Meigu also released 3q2021 performance forecast on October 12. The forecast shows that during the reporting period, the company is expected to realize a net profit attributable to the parent company of RMB 200-250 million, with a year-on-year increase of 308% - 360%, and turn losses into profits. Looking at Q3 alone, the net profit attributable to the parent company is expected to be 150-200 million yuan, an increase of 55-107% over the same period last year, and the performance significantly exceeded the market expectation.
事实上，医美板块的业绩是一直在线的，以爱美客、华熙生物为首的数家医美板块龙头在半年报时就已经展示出了不俗的实力，只是在政策的强压下，投资者的情绪较为悲观，板块出现一定回调。
In fact, the performance of the medical beauty sector has always been online. Several leaders of the medical beauty sector led by Aimeike and Huaxi biology have shown good strength in the semi annual report. However, under the strong pressure of policies, the investor's mood is more pessimistic, and there is a certain correction in the sector.
7月受到教育行业“双减”政策影响，医美作为近年来野蛮生长的行业之一，被投资者认作是下一个政策将要开刀的方向。7月22日-7月27日期间，wind医美指数累计下跌16.43%。
In July, affected by the "double reduction" policy of the education industry, medical beauty, as one of the industries with savage growth in recent years, was recognized by investors as the direction of the next policy. From July 22 to July 27, the wind medical beauty index fell by 16.43%.
8月，政策如期而至，然而医美板块却没有因此出现回调。8月27日，为提升医疗美容广告监管规则的科学性、规范性，维护消费者合法权益，市场监管总局依照广告法、医疗广告管理办法等法律法规规章规定，研究起草了《医疗美容广告执法指南（征求意见稿）》，现向社会公开征求意见。
In August, the policy came as scheduled, but there was no correction in the medical and American sector. On August 27, in order to improve the scientificity and standardization of the regulatory rules for medical beauty advertising and safeguard the legitimate rights and interests of consumers, the General Administration of market supervision studied and drafted the law enforcement guide for medical beauty advertising (Draft for comments) in accordance with the advertising law, medical advertising management measures and other laws, regulations and rules, and now solicits opinions from the public.
中泰证券认为，医美行业政策趋严利好行业长期发展。虽然，短期或造成相关平台和中低端产品阵痛，但是，长期来看有望提升行业集中度，利好行业龙头提升品牌力。
Zhongtai Securities believes that the policy of the medical and American industry is becoming stricter, which is conducive to the long-term development of the industry. Although, in the short term, it may cause pain for relevant platforms and medium and low-end products, in the long term, it is expected to improve the industry concentration, benefit the industry leaders and enhance the brand power.
来自：老虎资讯网
