Core Insights - The article discusses how certain industries are thriving despite a general perception of economic downturn, highlighting eight key sectors that present significant business opportunities in a low-desire society [3][4]. Group 1: Key Industries - **Second-Hand Economy**: The second-hand luxury market in Japan, represented by companies like Daikokuya, has seen a surge in revenue. In China, platforms like Hongbulin and Panghu are experiencing similar growth, indicating a shift in consumer spending towards second-hand goods [6][7][8][9]. - **Pet Economy**: With declining birth rates, young people are spending more on pets, leading to significant growth in pet food and healthcare products. Companies like Inaba in Japan and Guobao in China are capitalizing on this trend [11][12][14][15]. - **Adult Care Products**: The adult diaper market in Japan has surpassed $10 billion, indicating a growing demand for adult care products in China, with companies like Kexin showing potential for growth [16][17][18]. - **Health Food and Beverages**: The rise in health consciousness has led to increased demand for sugar-free beverages and functional drinks. Brands like Dongfang Shuye and Jianchun are gaining traction in this sector [21][22]. - **Beauty Economy**: The demand for beauty products, including collagen supplements and at-home beauty devices, is on the rise. Companies like Jinbo Biological are seeing significant market value growth [23][25]. - **Outdoor and Leisure Products**: The outdoor equipment market is thriving, with brands like Kailas and Camel experiencing rapid sales growth, as consumers seek leisure activities despite economic constraints [25][26][27]. - **Emotional Economy**: Brands like Labubu and Rio are tapping into the emotional needs of consumers, providing products that offer comfort and joy, even in a tight economic climate [28][29][30]. - **Convenience Economy**: The demand for convenience products, such as frozen foods and smart home appliances, is increasing as younger generations spend less time cooking. Companies like Anjijia and Kewot are benefiting from this trend [33][35][36]. Group 2: Market Trends - The article emphasizes that the current economic climate, often viewed as a "winter," presents opportunities for those willing to invest in counter-cyclical sectors. The key to success lies in recognizing and seizing these opportunities [39].

每日经济新闻 每经讯，2026年2月6日，北交所上市公司锦波生物（920982，收盘价：224.39元）发生一笔大宗交易，成交价297元/股，成交数 量5.5万股，成交金额1633.5万元，溢价32.36%。买入营业部是财通证券股份有限公司杭州秋涛路证券营业部，卖出营业部是东 北证券股份有限公司杭州市心北路证券营业部。 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前核实。据此操作，风险自担。 （记者 曾健辉） ...

从资金流向上来看，当日医疗美容板块主力资金净流出127.97万元，游资资金净流入2832.91万元，散户 资金净流出2704.94万元。医疗美容板块个股资金流向见下表： 证券之星消息，2月4日医疗美容板块较上一交易日上涨0.31%，锦波生物领涨。当日上证指数报收于 4102.2，上涨0.85%。深证成指报收于14156.27，上涨0.21%。医疗美容板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 920982 | 锦波生物 | 222.64 | 3.55% | 9236.31 | 2.02 Z | | 000615 | *ST美谷 | 3.13 | 0.97% | 8.45万 | 2651.25万 | | 300896 | 爱美客 | 148.32 | 0.51% | 4.21万 | 6.20 Z | | 688363 | 华熙生物 | 48.80 | -0.02% | 5.81万 | 2.82亿 | 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备3101043 ...

从资金流向上来看，当日医疗美容板块主力资金净流出4981.38万元，游资资金净流出538.33万元，散户 资金净流入5519.71万元。医疗美容板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | --- | | 000615 | *ST美谷 | 3.17 | -0.63% | | 6.67万 | | 2120.37万 | | 300896 | 爱美客 | 138.12 | -1.56% | | 2.98万 | | 4.13亿 | | 688363 | 华熙生物 | 45.64 | -1.70% | | 2.88万 | | 1.32亿 | | 920982 | 锦波生物 | 223.85 | -1.97% | | 7323.3 | | 1.65亿 | | 代码 | 名称 | | | 主力净流入（元） 主力净占比 游资净流入（元） 游资净占比 散户净流入 (元) 散户净占比 | | | | | --- | --- | --- | --- | --- | --- ...

| 1 | Carlos Controller | No. of Children | . Intellent within a | | 1188 | | | --- | --- | --- | --- | --- | --- | --- | | | . . . | 1 100 1 | | 三十八 | 1 | 11 | 2025年，在杨霞带领下，集团通过技术突破、产品创新、市场拓展及国际化布局，实现了业绩与品牌的 双重提升，成为重组人源化胶原蛋白领域的国产化标杆企业。 "2025年度医疗美容业十大杰出人物"榜单围绕专业能力、业绩表现、行业影响力等维度综合评选得出。 杨霞，女，1974年9月出生，硕士研究生学历。2008年1月至2016年11月，任山西医科大学讲师；2008年 3月至2011年5月，任锦波有限执行董事；2011年5月至2015年3月，任锦波有限监事；2016年12月至今， 任公司董事长；2019年12月至今任公司研究院院长。 | 序号 | 姓名 | 职务 | | --- | --- | --- | | 1 | 简军 | 爱美客董事长 | | 2 | 赵燕 | 华熙生物董事长 | | 3 | 严建 ...

近日，锦波生物发布公告称，收到证监会批复，同意公司向特定对象发行股票的注册申请，该批复自同 意注册之日起12个月内有效。据北交所官网，这是2024年以来北交所首个注册获批的定向发行股票项 目，能够为后续北交所企业再融资提供可复制、可借鉴的实践经验，也推动北交所进一步完善再融资制 度体系。 募资重点投向AI研发平台 ● 本报记者杨洁 持续完善再融资制度体系 中国证券报记者了解到，北交所自成立以来，坚持服务创新型中小企业的市场定位，构建了具有特色且 灵活多元的再融资机制。 再融资主要可以通过配股、增发和发行可转换债券三种方式进行，北交所再融资尚没有配股的案例出 现，近两年北交所再融资市场实践案例以定向可转债为主，定向发行股票的实践案例则主要集中于2022 年和2023年，2024年和2025年尚未有项目成功注册发行，锦波生物定增项目在2026年初取得注册批文实 现了近两年的破冰。 专家表示，从现实情况看，不少北交所上市公司IPO时募集资金量不大，再融资发展的需求逐步显现， 进一步打通再融资通道有利于公司聚集资源抓住发展机遇。 根据北交所官网，2025年以来，优机股份、万通液压、威博液压、克莱特四家公司披露定向可转 ...

根据公告，锦波生物此次发行对象为养生堂，拟发行股票不超过717.57万股，预计募集资金总额不超过 20亿元。据介绍，养生堂在工业化生产、严肃医疗产品转化及市场商业化方面积淀深厚经验，引入养生 堂作为战略投资者，有利于锦波生物突破发展瓶颈，对产业链上下游企业起到带动效应。 合成生物制造作为一种全新的"造物"技术，是代表新质生产力的新赛道和新业态，成为国际各方竞相抢 占的科技高地。公告介绍，锦波生物本次募集资金将重点投向"人源化胶原蛋白FAST数据库与产品开发 平台项目"。 FAST数据库基于公司自主研发的"AI胶原智脑系统"技术，是集人源化胶原蛋白"序列－结构－功能－应 用"于一体化的数据库，可提升功能区筛选和结构预测的效率，为公司人源化胶原蛋白的研发提供了全 面、精准、高效的解决方案。将AI技术运用于重组胶原蛋白行业深度契合新质生产力"创新主导、要素 重构、产业升级"的核心逻辑，有助于公司抢占国际合成生物技术制高点。 ● 本报记者 杨洁 近日，锦波生物发布公告称，收到证监会批复，同意公司向特定对象发行股票的注册申请，该批复自同 意注册之日起12个月内有效。据北交所官网，这是2024年以来北交所首个注册获批的定 ...

Core Viewpoint - The OTC channel presents significant opportunities for beauty brands, offering professional endorsements, precise targeting of skincare needs, and immediate product experiences, but it also poses challenges due to strict professional requirements and a talent shortage in the industry [1][2][3]. Group 1: Market Entry and Growth - By 2025, over six domestic cosmetic companies are expected to enter the OTC channel, marking it as the "Year of Domestic Beauty OTC Layout" [2]. - Leading domestic beauty brand Proya (603605.SH) announced its entry into the OTC channel in January 2026, joining a growing list of companies [2]. - Brands like Winona and Kefu Beauty have been early entrants into the OTC channel, with Winona's sales nearing 1 billion yuan in 2023, capturing over 60% of the market share in this channel [5]. Group 2: Strategic Developments - In April 2025, Furuida Bio announced plans to accelerate its OTC channel development, aiming to cover 10,000 drugstore chains and launch 100 "cosmetic and medicinal" SKUs [5]. - Companies are increasingly focusing on integrating with the professional environment of pharmacies rather than merely distributing products [5]. - Proya is preparing multiple products for the OTC channel, emphasizing the importance of medical device products as a foundation for entry [6]. Group 3: Market Potential and Challenges - The OTC channel has approximately double the growth potential, with Winona targeting to cover 250,000 pharmacies [8]. - As of December 2024, there are about 705,000 licensed drug retail enterprises in China, with Winona covering over 110,000, representing about one-seventh of the total retail pharmacy stores [9]. - The demand for beauty products in pharmacies is rising due to pressures on traditional pharmacy profits and the need for transformation [9]. Group 4: Profitability and Talent Shortage - Medical device products have a significantly higher gross margin, averaging 77%-83%, compared to regular cosmetic products [9]. - The beauty industry faces a talent shortage in the pharmacy channel, as many brands rely on pharmacists who must understand both pharmaceuticals and cosmetics [10]. - Companies like Betaini are addressing this by training pharmacy staff to enhance customer trust and provide professional consultations [10][11].

Group 1 - The core point of the article is that Jinbo Biopharmaceutical (920982) has received approval from the China Securities Regulatory Commission (CSRC) for a specific stock issuance, which is valid for 12 months from the date of approval [1] - As of January 23, 2026, Jinbo Biopharmaceutical's stock closed at 229.45 yuan, up 1.08% from the previous trading day, with a total market capitalization of 26.402 billion yuan [1] - The stock opened at 230.0 yuan, reached a high of 233.98 yuan, and a low of 229.0 yuan, with a trading volume of 1.7 billion yuan and a turnover rate of 1.34% [1] Group 2 - The company will handle related matters based on the approval and authorization from the shareholders' meeting, ensuring timely information disclosure [1]

Core Viewpoint - The medical beauty sector experienced a decline of 1.35% on January 22, with Jinbo Biological leading the drop, while the overall market indices showed slight increases [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4122.58, up 0.14% - The Shenzhen Component Index closed at 14327.05, up 0.5% [1]. Group 2: Individual Stock Performance - ST Meigu closed at 3.34, with an increase of 1.52% and a trading volume of 60,900 shares, totaling a transaction value of 20.15 million yuan - Huaxi Biological closed at 45.54, down 0.76% with a trading volume of 28,800 shares, totaling a transaction value of 13.2 million yuan - Aimeike closed at 141.60, down 2.07% with a trading volume of 31,200 shares, totaling a transaction value of 44.6 million yuan - Jinbo Biological closed at 226.99, down 2.21% with a trading volume of 7,993.54 shares, totaling a transaction value of 183 million yuan [1]. Group 3: Capital Flow Analysis - The medical beauty sector saw a net outflow of 66.31 million yuan from main funds, while retail investors contributed a net inflow of 45.07 million yuan - The detailed capital flow for individual stocks shows: - ST Meigu: Main funds net inflow of 1.81 million yuan, retail net outflow of 759,000 yuan - Huaxi Biological: Main funds net outflow of 24.14 million yuan, retail net inflow of 8.44 million yuan - Jinbo Biological: Main funds net outflow of 35.10 million yuan, retail net inflow of 313,600 yuan - Aimeike: Main funds net outflow of 43.98 million yuan, retail net inflow of 37.39 million yuan [2].