After being with the global beauty giant Estée Lauder Companies for more than 16 years, the Vice Chair Sara Moss announced her retirement, effective July 1, 2023. After being with the global beauty giant Estée Lauder Companies for more than 16 years, the Vice Chair Sara Moss announced her retirement, effective July 1, 2023. Sara Moss graduated with Phi Beta Kappa honors from the University of Massachusetts and went on to attend New York University Law School. Sara Moss has worked for The Estée Lauder Companies for more than 16 years. Prior to that, she started her career as a law clerk for a U.S. District Judge and then worked as a litigator at Davis Polk & Wardwell. Later, she became an Assistant U.S. Attorney in the Southern District of New York, where she handled various federal cases. Sara Moss started her remarkable career with The Estée Lauder Companies in 2003 as the Executive Vice President and General Counsel. She held this position until 2019 when she was promoted to the role of Vice Chairman. Estée Lauder said for the past three years, Sara also led the Social Impact pillar of the company’s integrated ESG strategy, including Women’s Advancement and Gender Equality, Racial Equity, Generational Diversity and Social Impact in China. Apart from her achievements within The Estée Lauder Companies, Sara Moss has made a significant impact in other areas as well. In 2017, she founded the Sara Moss Women’s Leadership Program at New York University Law School, where she is also a Law School Trustee and serves on the Board of Directors. She is also the Vice Chairman of the Board of The New York Common Pantry and was honored with the Distinguished Partner Award in 2020. “Sara is an exceptional legal mind, a skilled advisor, a valued mentor, and a much-loved leader whose strategic insights, business acumen and sound judgment have contributed greatly to our company’s success,” said Fabrizio Freda, President and Chief Executive Officer. “Her incredible character, steadfast integrity and deep empathy will be greatly missed across the organization.”

Guangzhou Homar Bio-Technology Co., Ltd. (Homar), the Chinese NEEQ listed cosmetics producer, reported net loss of 1.65 million yuan ($0.24 million) in 2022. The company has suffered losses in second consecutive year. Guangzhou Homar Bio-Technology Co., Ltd. (Homar), a cosmetics company listed on China National Equities Exchange And Quotations (NEEQ), released its 2022 annual report, which showed a non-GAAP net loss of 14.55 million yuan ($2.11 million). This is the second consecutive year that Homar has suffered losses. In 2022, Homar's revenue reached 35.20 million yuan ($5.11 million), a year-on-year increase of 4.16%. The net loss attributable to the listed company's shareholders was 1.65 million yuan ($0.24 million), while the non-GAAP net loss attributable to the listed company's shareholders after deducting non-recurring gains and losses was 4.55 million yuan ($2.11 million). Homar was established in 2011 and listed on the NEEQ in 2016. The company is mainly engaged in the research and development, production, and sales of cosmetics such as cleansing, skincare, and personal hygiene products. Its main business is to provide professional cosmetics OEM and ODM production services to customers, including various types of clients such as domestic and overseas cosmetics brand companies, department store retail enterprises, cosmetics agents, chain enterprises, e-commerce retail platforms, etc. Its clients include Marks & Spencer, Watsons, and others. Homar's main customers are five companies, including MELLER DESIGNS SOLUTIONS LTD., Anti-wrinkle Family (Guangzhou) Biotechnology Co., Ltd., and Guangdong Zhengmingming Cosmetics Technology Co., Ltd. In terms of regional segmentation, revenue from domestic customers was 18.30 million yuan ($2.66 million), down 12.72% compared to 2021. Revenue from overseas customers reached 16.90 million yuan ($2.45 million), saw growth of 31.78%, mainly due to an increase in orders from foreign customer MB. In addition, in 2021, Homar's revenue was 33.80 million yuan ($4.90 million), with a decrease of 73.37%. The net loss attributable to the listed company's shareholders was 32.49 million yuan ($4.71 million), down1,175.30%, which turned from profit to loss. Regarding Homar's continued losses in 2022, some media outlets analyzed that this was partly due to credit impairment losses from litigation cases and an increase in total borrowing and interest expenses, resulting in a 61.47% increase in financial expenses and partly due to exchange losses.

BAUM, a upscale lifestyle skincare brand under Shiseido, opened its first concept store counter in China at Réel Department Store in Shanghai. Recently, BAUM, a high-end lifestyle skincare brand under Shiseido, opened its first concept store counter in China at Réel Department Store in Shanghai. According to public information from Shiseido official website. BAUM was established in 2020 around the theme “coexistence with trees.” To honor nature’s blessings, BAUM uses ingredients extracted from every part of the tree—trunk, skin, leaves, fruit, and roots—in its products. Highlighting the natural power of human beings to become beautiful. Enhancing our skin’s innate potential to preserve itself, regardless of gender or age. Actively pursuing a series of environmental initiatives. Shiseido pointed that BAUM uses upcycled oak (leftover in the furniture manufacturing process) for its packaging, grows tree saplings in stores and plants them in the BAUM Forest, is an active advocate of product refills, employs bioPET plastics and recycled glass in its glass containers, and sells original eco bags to customers to minimize waste. A promoter of the message “EVERY TREE, A BEAUTIFUL BEGINNING,” BAUM aims to realize a sustainable society in which trees are preserved for the future by adhering to “coexistence with nature,” a concept which has been valued by the Japanese for millennia. In October 2021, BAUM brand entered China market with online store in Taobao, offering skin care, hand care, body care and fragrance products. On September 24th 2022, BAUM opened its first China independent counter in Shanghai. BAUM product prices in China range from 240 yuan ($34.79) to 890 yuan ($129.02). In addition, BAUM opened its first global duty-free store on December 22, 2022. The store is located in the "Japan Duty Free GINZA" airport-style urban duty-free store on the 8th floor of Mitsukoshi Department Store in Ginza, Tokyo, Japan. At the 2022 Shiseido Group 150th anniversary event in China, Shiseido stated that it will continue to invest in China, shifting from "investing in China" to "investing China," and the company will continuously launch new brands to expand into new markets for beautiful skin care. It is worth mentioning that on April 7, Shiseido (China) Investment Co., Ltd. underwent a change in its business registration, with Toshinobu Umetsu replacing Kentaro Fujiwara as the legal representative and new chairman of Shiseido China.

ZRP Printing Group Co., LTD (hereinafter referred to as ZRP), the packaging suppliers of P&G and L’Oréal reported revenue of 2.473 billion yuan ($358.54 million) in 2022, down 2.77% compared to 2021. On April 23, ZRP Printing Group Co., LTD (hereinafter referred to as ZRP), the packaging suppliers of P&G and L’Oréal released the 2022 annual report, which is also its first financial report since its listing in October last year. In 2022, ZRP reported revenue of 2.473 billion yuan ($358.54 million), a year-on-year decrease of 2.77%. The net profit attributable to the shareholders of the listed company reached ¥214 million ($31.03 million), saw growth of 0.7%. According to the previous prospectus, P&G was ZRP largest customer. From 2019 to 2021, ZRP sold products worth 480 million yuan ($69.59 million), 470 million yuan ($68.14 million), and 530 million yuan ($76.84 million) to P&G, respectively. However, in 2022 annual report, ZRP stated that it has applied for exemption from disclosing the names of its top 5 customers due to commercial secrets. In 2022, ZRP sold products worth 522 million yuan ($75.68 million) to its largest customer, accounting for 21.09% of its total annual sales. Followed by was 159 million yuan ($23.05 million) and 148 million yuan ($21.46 million) to its second and third largest customers, respectively, accounting for 6.44% and 6%. In terms of main products, the revenue of folding cartons decreased by 1.68% to 1.885 billion yuan ($273.31 million), accounting for 76.23% of the company’s total revenue. The revenue of gift boxes reached 206 million yuan ($29.87 million), accounting for 8.34% of the total revenue, down 20.04%. The revenue of other printing and packaging products was 336 million yuan ($48.72 million), accounting for 13.6%, an increase of 2.62% from last year. ZRP stated that in 2023, in some segmented fields such as the oral care product industry, the company will cooperate with leading enterprises in the segmented fields to establish industry product standards. Based on its existing advantageous business portfolio, the company will continue to increase its efforts to develop new customers and follow the trend of global manufacturing transfer. The company plans to build factories in Southwest China, Central China, and Southeast Asia, and deepen its strategic cooperation with some international brand customers.

Viya, the Chinese top Livestreamer, made her first public appearance in the Wulin National Trend Consumption Season series of activities in Hangzhou, after being fined for tax evasion in 2021. Recently, the third season of the "Grand Canal Time Honored Brand" kicked off in Hangzhou, Zhejiang Province in 2023. Viya, the Chinese top Livestreamer as the "Chief Mentor" of the Zhejiang Century- Traditional Brand Research Institute and the National Trend Institute, was invited to attend. Since being fined for tax evasion scandal on December 20, 2021, Viya has not made any public appearances for about 480 days. It is reported that Viya appeared in the fourth session of the Chinese Old Brand Leaders Training Course in October of last year to give lectures, but it did not attract much attention at the time. It is reported that in the future, the Chinese Top Livestreamer Viya will also serve as the "Chief Mentor" to guide and train the old brand students in e-commerce operations and live streaming operations for old brands. Two days before Viya's appearance, Qianxun, a live streaming e-commerce company founed by Viya, bought a permanent land unit in Hangzhou's Binjiang District for a total price of 22.06 million yuan ($3.2 million) for the construction of a live streaming base. On April 21, Qianxun's digital engine Lingke System released several new features that empower anchors, including intelligent card generation, intelligent pallet assembly, AI algorithm price comparison, and brand and user maps. In addition, Qi'er, a former assistant to Viya, sold over 250 million yuan ($36.25 million) in live streaming sales on Douyin in March, with a GMV of over 100 million yuan ($14.5 million) in the live streaming event on March 1 alone. Although Qianxun's internal employees insisted that Qi'er's signing of Chuxing Media was a company incubated by Qianxun's internal entrepreneurship and has nothing to do with Qianxun. The "Bee Surprises Society", which took over Viya's original Taobao live streaming channel, had five of the six anchors who used to work in Viya's live streaming room. The first live streaming session had over 1.12 million views and gained over 260,000 followers. In March of this year, the "Dolphin Surprises Society" launched its live streaming room on Douyin, with similar product selections and positioning as the "Bee Surprises Society," and is also backed by the MCN institution behind Qi'er, Chuxing Media. Currently, the average number of views for live streaming sessions is over 900,000, with 785,000 fans. Currently, even though Viya has left the live streaming, Qianxun's live streaming business has not stopped, and the "comeback" activities of Viya and her husband behind the scenes are almost all paving the way for the live streaming business.

JINSHENG, the Packaging Supplier of global beauty giant L'Oréal and Estée Lauder reported net loss of 22.51 million yuan ($3.26 million) in 2022. Zhejiang Jinsheng New Materials Co., Ltd. (hereinafter referred to as JINSHENG), the Packaging Supplier of global beauty giant L'Oréal and Estée Lauder released its 2022 annual report. JINSHENG’s revenue in 2022 reached 243 million yuan ($35.14 million), down 17.19% compared to 2021. While the company reported net loss of 22.51 million yuan ($3.26 million). According to previous data, from 2020 to 2022, since its listing in SZSE 2020, JINSHENG’s revenue were 259.6 million yuan ($37.57 million), 293.2 million yuan ($42.43 million), and 242.8 million yuan ($35.14 million), respectively, and the net profit attributable to the parent company reached 34.49 million yuan ($4.99 million) in 2020 and 10.59 million yuan ($1.53 million) in 2021. The company reported net loss of 22.51 million yuan ($3.26 million) in 2020. This is not only the third consecutive year of significant decline in net profit but also the first loss since its listing. Regarding the loss, JINSHENG stated that in 2022, affected by multiple factors in the economic and social environment, the willingness and ability of consumers to travel declined, and the use of cosmetics was affected, and the consumption market was impacted. The downstream customers of the industry engaged in by the company, such as cosmetics manufacturers, were greatly affected. It is worth noting that JINSHENG ' fundraising project, the "Annual Production of 45 Million Sets of New Cosmetic Packaging Container Project," has been completed. The company stated that it will use this project's automated workshop as an opportunity to leverage its own strengths and experiences to expand production scale while improving product technical content; increase market development efforts and expand world-class customers. Public information shows that JINSHENG mainly engages in the research and development, production, and sales of plastic packaging containers for cosmetics, with its main products being cosmetic containers. Its customers include well-known cosmetics companies such as L'Oréal, Estée Lauder, Dior, Pechoin, Kans, MARUBI, and Wetherm.

Shanghai Jahwa, the Chinese beauty giant, released its 2022 annual report and 2023 Q1 report. In 2022, Shanghai Jahwa delivered 71.06 billion yuan ($1.03 Billion) in revenue, down 7.06% compared to 2021. In terms of revenue, Shanghai Jahwa now ranked first among Chinese cosmetics companies. Shanghai Jahwa, the Chinese beauty giant, released its 2022 annual report and 2023 Q1 report. In 2022, Shanghai Jahwa delivered 71.06 billion yuan ($1.03 Billion), down 7.06% compared to 2021. The net profit of the company reached 472 million yuan ($68.26 million), with a decrease of 27.29%. In terms of products, skin care business delivered 1.97 billion yuan ($285.64 million) revenue in 2022, down 26.78% compared to 2021, accounting for 27.82% of its total revenue. While revenue of personal care and household cleaning business increased 10.88% to 2.67 billion yuan ($386.45 million), accounting for 37.63% of its total revenue. During the reporting period, Shanghai Jahwa continued to promote multi-platform layout through refined operations on its e-commerce channels, gradually reducing its reliance on a single strategy. Excluding the impact of Tmall, the overall growth rate was approximately 4%. Interest-based e-commerce (such as Douyin and Kwai) grew by over 200%, accounting for approximately 9% of the domestic e-commerce business. Among them, the year-on-year growth of Douyin shop was 160%, and that of Kwai shop was 4788%. The company also achieved a breakthrough in multi-platform reach and expansion since the fourth quarter, and expects the above layout to bring better business growth in 2023. The company's special channels continue to promote retail business, achieving year-on-year positive growth in monthly sales at the end of 2023. Shanghai Jahwa said the company faced pressure from the external environment in last year, especially in the second quarter when its factories and logistics bases were shut down. The company was affected by unstable factors on the demand side, as well as on the supply side such as production and logistics. In the 2023 Q1. Shanghai Jahwa posted 1.98 billion yuan ($286.33 million) in revenue, down 6.49% compared to the same period of 2022. While the company’s net profit in 2023 Q1 reached 230.44 million yuan ($33.33 million). In terms of products, skin care business reported 409.41 million yuan ($59.21 million) revenue, While revenue of personal care and household cleaning business reached 1.07 billion yuan ($154.28 million). The avraege price of the skin care products in Q1 rose 50.42%, from 21.49 yuan ($3.11) to 32.33 yuan($4.68).

In the consumer rights and public opinion data related to live-streaming sales of 14 livestreamers studied in this report, "Crazy Little Yang Brother"(疯狂小杨哥) had the highest proportion of consumer rights and public opinion, accounting for 29.27%, followed by Li Jiaqi, accounting for 28.49%. On April 24th, Center for Consumer Protection Law of the University of International Business and Economics, and the Beijing Sunshine Consumer Big Data Research Institute released a report titled "Analysis of Consumer Rights Protection and Public Opinion on Live-streaming E-commerce". The report analyzed that the false advertising public opinion of "Crazy Little Yang Brother"(疯狂小杨哥) and Li Jiaqi was relatively prominent, while the product quality public opinion of Liu Yanhong, Luo Yonghao and Xinba was more prominent. The issue of live-streaming e-commerce on short video platforms is significantly more prominent than that on traditional e-commerce platforms and requires special attention. The report states that consumer rights and public opinion in live-streaming e-commerce mainly reflect issues with product quality, such as counterfeiting, substandard products. False advertising, such as exaggerating product efficacy. Uncivilized sales, such as performing scripts and vulgar marketing. Price deception, such as false prices and exaggerated discounts. Shipping such as slow delivery and non-delivery. Returns and exchanges, such as refusing returns and exchanges. Selling prohibited goods, such as selling wildlife and prescription drugs without qualifications, and inducing off-platform transactions, such as directly or indirectly guiding consumers to transact on social media platforms or individual accounts outside the original live-streaming e-commerce platform, totaled seven aspects. Among them, product quality issues account for 45.75%, false advertising accounts for 37.82%, uncivilized sales account for 5.19%, price deception accounts for 5.08%, shipping accounts for 4.46%, returns and exchanges account for 1.45%, selling prohibited goods accounts for 0.14%, and inducing off-platform transactions accounts for 0.11%. Aggregate analysis of public opinion data found that among the live-streaming e-commerce consumer rights and public opinion data involving 10 platforms including Douyin, Kuaishou, Taobao, Pinduoduo, JD.com, Weibo, Xiaohongshu, Vipshop, Mogujie, and Suning, Douyin accounted for 55.41% of the consumer rights and public opinion, followed by Kuaishou at 26.76%, and Taobao at 15.67%. Product quality and false advertising are the main public opinion issues on these platforms. In the consumer rights and public opinion data related to live-streaming sales of 14 livestreamers studied in this report, "Crazy Little Yang Brother"(疯狂小杨哥) had the highest proportion of consumer rights and public opinion, accounting for 29.27%, followed by Li Jiaqi, accounting for 28.49%, and Liu Genghong ranked third, accounting for 15.01%. The report recommends implementing a graded and classified management system for live broadcasts. For Livestreamers with a large number of fans and high social attention, and whose illegal behavior has more significant harmful consequences, they should be subject to stricter supervision. For live broadcasts with unstable supply, higher quality risks, and more complaints, a warning and admonishment system should be established to target different illegal tendencies, stages, and degrees of violations, and a step-by-step supervision system should be implemented. Secondly, measures should be taken to restrict traffic, pop-up prompts, illegal warnings, and temporary suspension of live broadcasts for risk marketing behaviors, and timely management of information security for links and QR codes in the live broadcast. Violating live broadcasts and livestreamers should be warned, suspended, jointly punished, and blacklisted.

On April 24th, Xiefuchun reported 14.67 million yuan ($2.12 million) net loss in 2022. The company reported net loss for three consecutive years. On April 24th, the well-established domestic brand JIANGSU XIEFUCHUN CHINESE CLASSICAL COSMETICS CO.,LTD (Xiefuchun) released its 2022 financial report. In 2022, Xiefuchun's revenue reached 20.2 million yuan ($2.92 million) a decrease of 47.62% compared to the same period last year. The company reported 14.67 million yuan ($2.12 million) net loss in 2022. In 2021 and 2020, Xiefuchun reported losses of 6.15 million yuan ($0.89 million) and 3.91 million yuan ($0.57 million), respectively. In terms of the main products, modern skincare ranked first in revenue, with revenue of 8.15 million yuan ($1.18 million) last year, a decrease of 40.17% year-on-year. The revenue of the intangible cultural heritage category last year reached 5.41 million yuan ($0.78 million), a decrease of 53.79% compared to the same period of 2021. The makeup category revenue decreased by 51.65% to 4.18 million yuan ($0.60 million). The newly established fragrance category product revenue last year was 180,000 yuan ($26014), with a gross profit margin of 58.63%. Xiefuchun stated that in 2022, due to the continuous downturn in the macroeconomic factors, the domestic consumer market demand remained sluggish. The company's stores were mainly located in well-known tourist attractions, which were more affected. The offline channels were relatively narrow, and the market's ability to resist risks was weak. The emerging market channels have not yet been fully opened, but with the comprehensive recovery of the domestic market economy in 2023, the company's operating income will significantly increase. According to public information, Xiefuchun was founded in the tenth year of the Qing Emperor Daoguang (1830) and has been around for nearly 200 years. It is also the first cosmetics company in China and was listed on the stock market in 2015. Its "Xiefuchun Duck Egg Powder" is famous for its duck egg-like appearance and is also its most popular cosmetic product.

Amorepacific (Shanghai) Research Institute signed strategic cooperation with WEIPU in the fields of human safety and efficacy testing for non-registered and registered filing purposes, consumer research, and other areas. Amorepacific (Shanghai) Research Institute today held a signing ceremony with Shanghai WEIPU Testing Technology Group Co., LTD (WEIPU), a domestic large-scale research-oriented testing institution, in Shanghai. The two parties announced that they will carry out multi-dimensional strategic cooperation in the fields of human safety and efficacy testing for non-registered and registered filing purposes, consumer research, and other areas. Based on this cooperation, Amorepacific's experienced skin research achievements will be combined with WEIPU 's professional capabilities in R&D quality control, efficacy verification, and registration and filing testing, further consolidating the company's strength in local innovation basic research, and promoting innovation and compliance development in the field of cosmetic safety and efficacy together. In recent years, with the successive promulgation of regulations such as the Regulation on the Supervision and Administration of Cosmetics, Standards for Cosmetic Efficacy Claim Evaluation, and Supervision and Administration Measures on Online Operation of Cosmetics, the state has gradually standardized the supervision of the safety and efficacy claims of cosmetics and continuously raised the industry's entry threshold. In addition, Chinese consumers' consumption concepts and behaviors are becoming more pragmatic and rational. While pursuing cost-effectiveness, they are starting to pay attention to professional details such as product efficacy and ingredients based on their own needs. The strategic cooperation reached with WEIPU this time is Amorepacific's active response to the country's requirements for high-quality development of the industry and local consumer demand, and it is a deep strategic partnership. Amorepacific Pacific attaches great importance to research on local consumers and continuously invests in efficacy testing and other areas, actively working to improve product R&D and efficacy research levels and create a steady stream of beauty value for Chinese consumers. As a leading research-oriented partner in China, WEIPU has CMA qualifications authorized by the State Administration for Market Regulation and CNAS qualifications recognized by the China National Accreditation Service for Conformity Assessment, and has strong equipment and technology in instrument platforms, spectral databases, analysis, and resolution techniques. YoungHo Park, the CTO of Amorepacific, stated that their company has been dedicated to enhancing local core technology research and development for many years. They prioritize developing a research and development system focused on Chinese consumers to facilitate "local innovation." The strategic cooperation with WEIPU is a crucial step towards realizing this vision, and they are eager to collaborate to achieve more innovative scientific research outcomes. Amorepacific plans to strengthen scientific research cooperation with Chinese testing institutions, increase research investment, and proactively promote the growth of the Chinese beauty industry, ultimately providing better beauty experiences for Chinese consumers.

Chanel confirmed that its President and Chief Operating Officer, John Galantic, will step down from his position to pursue other career opportunities, effective June 30th. Chanel confirmed that its President and Chief Operating Officer, John Galantic, will step down from his position to pursue other career opportunities, effective June 30th. Galantic joined Chanel in 2006 and previously served as President of Coty Beauty Americas, as well as holding senior positions at SmithKline Beecham and Procter & Gamble. He was responsible for leading Chanel's strategic and operational activities in the United States, overseeing fashion, accessories, watches, high jewelry, beauty and fragrance, as well as wholesale distribution and independent retail. During his tenure, Galantic drove Chanel to use e-commerce platforms in the US, charting a course for Chanel.com's global website and developing the first customer application to extend one-on-one luxury services beyond the boutique. “During his time with Chanel, John Galantic has built the brand and the business of Chanel Inc. into a true powerhouse. In 2017, he additionally took on a global leadership role to establish and oversee the Global Digital Services (GDS) to grow our Chanel.com and digital capabilities. Under his leadership, Chanel Inc. pioneered a transformational client centric model, increasing Chanel’s owned distribution and elevating client experience as well as profitability, growing the business in all categories,” said a Chanel spokeswoman. In 2021, Chanel reported revenues of $15.6 billion, up 49.6% versus 2020. While the operating profit reached $5,461 million, with a remarkable increase of 170.6% compared to 2020. The 2022 annual report has not been closed yet. In 2021, in terms of regional sales, Chanel's sales in Europe increased by 40.1% to $4.042 billion compared to 2020, although it still fell by nearly 11% compared to 2019. In the Asia-Pacific region, sales surged more than 53% to $8.068 billion, an increase of nearly 49% compared to 2019. Sales in the Americas market, including the US, also saw a significant increase of nearly 80% to $3.529 billion compared to 2020.

Recently, the China Fujian Provincial Administration for Market Regulation issued a notice on conducting the special law enforcement action against unfair competition in 2023. Focusing on investigating unfair competition in online activities. Recently, the China Fujian Provincial Administration for Market Regulation issued a notice on conducting the special law enforcement action against unfair competition in 2023. The special action will be organized from April to December and will focus on investigating unfair competition in online activities, strengthening the supervision of new commercial marketing behaviors, and protecting the core competitiveness of enterprises. For online unfair competition, this action will focus on investigating false or misleading commercial propaganda in network live broadcasts, investigating false or misleading commercial propaganda about product functions and effects through fictional plots, topic deduction, and other means, investigating the use of keyword association and setting false operation options to deceive or mislead users into clicking on links that direct to their own products or services, and investigating the illegal acquisition and use of commercial data lawfully held by other operators to disrupt the order of fair competition. The action will also focus on investigating fake reviews and manipulating stock prices: investigating the behavior of creating false reputation and inducing consumption by sharing false consumption experience, publishing "exquisite reviews," or homogeneous positive reviews through network celebrities and well-known bloggers. The action will strictly investigate the help behavior of organizing fake or misleading commercial propaganda on transaction information and user evaluation, such as pumping up transaction volumes and manipulating data. Law enforcement will crack down on behaviors that entice users to make specified evaluations, likes, and targeted voting by offering cash rebates, red envelopes, and other incentives. In terms of law enforcement and supervision of new commercial marketing behaviors, the action will strictly investigate false or misleading commercial propaganda about "consumption" products as drugs, and false or misleading commercial propaganda about new technologies such as "gene testing", and investigate false or misleading commercial propaganda about children's cosmetics. In addition, this action will focus on protecting enterprises' core competitiveness such as business secrets, brand identification, and commercial reputation. It will strengthen the protection of business secrets of various enterprises, including technology enterprises, private enterprises, and foreign-funded enterprises. It will also strengthen the protection of brand identification of well-known enterprises and quality products, and investigate behaviors such as riding on the popularity, imitating and confusing others. The action will also investigate behaviors that deliberately spread false information created by others to discredit competitors.