Dongxing Securities believes that the medical and American policy sends a positive signal to promote the development of industrial compliance. In addition, the regulatory measures of the medical and beauty industry mainly affect small and medium-sized non-compliance institutions, which is expected to accelerate the clearing of the supply side of the industry, increase market concentration and benefit large-scale compliance institutions. In the long run, the process of regulatory standardization is also a process of educating consumers on compliance products. The healthy, orderly and transparent medical beauty market will stimulate people's consumer confidence and is expected to promote the industry to achieve long-term benign expansion. The leading manufacturers of mid-stream medical and beauty products with clear attention pattern and deep barriers to technology, qualifications and channels, such as Aimeke, Huaxi Biology, Juzi Biology, etc., are expected to benefit.