Citigroup: Juzi Biotech (02367) will become the main beneficiary of the structural trend of "medicalization of skincare", with a first-time rating of "buy".

Citigroup expects that the net income of Juzi Bio in the first half of 2024 will increase by 35%.

According to the Zhitong Finance APP, Citigroup issued a research report stating a first-time 'buy' rating for Juzi Bio (02367), stating that it will be the main beneficiary of the 'medical skincare' structural trend. It is expected that the net profit in the first half of 2024 will increase by 35%, and the compound annual growth rate from 2023 to 2026 will reach 26%.

The report pointed out that although the demand for overall cosmetics has slowed down, given the growing demand from young consumers, it is expected that skin beauty and care products will continue to flourish. China's cosmetic companies that the bank is bullish on are Pechoin (603605.SH), Juzi Bio and Betteny (300975.SZ) in order.

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花旗：巨子生物(02367)将成为“护肤医疗化”结构性趋势的主要受益者 首予“买入”评级

Citigroup: Juzi Biotech (02367) will become the main beneficiary of the structural trend of "medicalization of skincare", with a first-time rating of "buy".

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花旗：巨子生物(02367)将成为“护肤医疗化”结构性趋势的主要受益者首予“买入”评级