Core Viewpoint - The skincare and daily chemical industry in A-share listed companies has shown improvements in inventory levels for the first half of 2025, with only six out of fourteen selected companies experiencing an increase in inventory size [1][2]. Inventory Scale Analysis - In the first half of 2025, Jinbo Biological had the largest year-on-year increase in inventory, reaching 153 million yuan, a growth of 116.79% [2]. - Kesheng Co. also saw significant inventory growth, with a total of 628 million yuan, marking a 40.87% increase [2]. - Other companies with notable inventory increases include Marubi Biological (35.91%), Chuang'er Biological (34.02%), and Jiaheng Home Care (31.39%) [2]. Inventory Turnover Days - Among the fourteen selected companies, only five had inventory turnover days below 90 days, indicating efficient inventory management [2]. - Companies with inventory turnover days exceeding 180 days include Huaxi Biological (331.61 days), Jinbo Biological (280.81 days), Kesheng Co. (230.92 days), and Beitaini (195.78 days) [2][4]. - The overall inventory turnover efficiency in the industry is concerning, with six companies showing improvement while eight companies experienced longer turnover days [3]. Year-on-Year Changes in Inventory Turnover Days - Huaxi Biological's inventory turnover days increased by 13.34%, reaching 331.61 days [4]. - Jinbo Biological's turnover days rose by 15.66% to 280.81 days [4]. - Kesheng Co. saw a dramatic increase of 115.83% in turnover days, reaching 230.92 days [4]. - Other companies like Fushijia and Shanghai Jahwa also reported changes in turnover days, with Fushijia increasing by 31.52% [4].

证券代码：832982 证券简称：锦波生物 公告编号：2025-156 山西锦波生物医药股份有限公司 关于补选第四届董事会审计委员会委员的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别 及连带法律责任。 山西锦波生物医药股份有限公司（以下简称"公司"）于 2025 年 9 月 11 日 召开第四届董事会第十六次会议，审议通过了《关于补选第四届董事会审计委 员会委员的议案》，现将具体情况公告如下： 一、基本情况 鉴于公司原董事会审计委员会委员杨霞女士已当选公司总经理，不再满足 董事会审计委员会委员需为非高级管理人员董事的任职要求。为完善公司治理 结构，保障董事会审计委员会正常运行，根据《公司法》《公司章程》等相关规 定，拟补选李飞先生为公司第四届董事会审计委员会委员，任期自本次董事会 审议通过之日起至第四届董事会届满之日止。 2025 年 9 月 11 日 二、补选后的人员构成 补选后的审计委员会成员：阎丽明（召集人，独立董事）、梁桐栋（独立董 事）、李飞。 三、上述人员补选对公司的影响 本次董事会审计委员会委员的补 ...

证券代码：832982 证券简称：锦波生物 公告编号：2025-155 山西锦波生物医药股份有限公司 第四届董事会第十六次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 9 月 11 日 2.会议召开地点：公司二楼会议室 3.会议召开方式：现场加通讯 4.发出董事会会议通知的时间和方式：2025 年 9 月 9 日以邮件方式发出 5.会议主持人：董事长杨霞女士 6.会议列席人员：薛芳琴、兰小宾 7.召开情况合法、合规、合章程性说明： 本次会议的召集、召开、审议过程符合《中华人民共和国公司法》等有关 法律、行政法规、部门规章、规范性文件及《公司章程》的规定。 （二）会议出席情况 会议应出席董事 8 人，出席和授权出席董事 8 人。 董事王玲玲、阎丽明、梁桐栋、张金鑫因出差或外地办公以通讯方式参与表 决。 二、议案审议情况 （一）审议通过《关于补选第四届董事会审计委员会委员的议案》 1.议案内容： 4.提交股东会表决情 ...

Market Performance - The medical beauty sector rose by 2.11% on September 11, with Ai Meike leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] Individual Stock Performance - Ai Meike (300896) closed at 201.00, with a gain of 3.10% and a trading volume of 46,300 shares, amounting to a transaction value of 909 million yuan [1] - Huaxi Biological (688363) closed at 59.51, up 0.86%, with a trading volume of 47,500 shares, totaling 279 million yuan [1] - ST Meigu (000615) remained unchanged at 3.14, with a trading volume of 55,800 shares, amounting to 17.45 million yuan [1] - Jinbo Biological (832982) closed at 307.80, down 0.03%, with a trading volume of 7,759.81 shares, totaling 237 million yuan [1] Capital Flow Analysis - The medical beauty sector saw a net inflow of 35.23 million yuan from institutional investors, while retail investors experienced a net outflow of 45.10 million yuan [1] - Ai Meike had a net inflow of 35.43 million yuan from institutional investors, but a net outflow of 40.20 million yuan from retail investors [2] - Huaxi Biological experienced a net inflow of 1.46 million yuan from institutional investors, with a net outflow of 6.54 million yuan from retail investors [2] - ST Meigu had a net outflow of 1.66 million yuan from institutional investors, but a net inflow of 1.64 million yuan from retail investors [2]

Group 1 - The company announced a leadership change, with Jin Xuekun stepping down as General Manager and Yang Xia appointed as the new General Manager effective September 8, 2025 [3] - Yang Xia is the founder and actual controller of the company, holding 67.77 million shares, which accounts for 58.89% of the company's total equity [3] - The company also reported the resignation of independent director Zhang Jinxin and the transition of Li Fei to a representative director role [3] Group 2 - The company plans to raise up to 2 billion yuan by issuing no more than 7.1757 million shares to strategic investors, representing 6.24% of its pre-issue total equity [4] - Yang Xia signed a share transfer agreement to sell 5.7533 million shares to Hangzhou Jiushi at a price of 243.84 yuan per share, totaling 1.403 billion yuan [4] - Both strategic investors, Yang Xia and Hangzhou Jiushi, are ultimately controlled by Zhong Shanshan, who has invested 3.4 billion yuan into the company [4] Group 3 - The core business of the company focuses on the research, production, and sales of high-end implantable medical devices made from type A recombinant humanized collagen [5] - In the first half of 2025, the company achieved revenue of 859 million yuan, a year-on-year increase of 42.43%, with a gross margin of 90.68% and a net profit attributable to shareholders of 392 million yuan, up 26.65% year-on-year [5]

Group 1 - The core point of the article is the appointment of Yang Xia as the new General Manager of Jinbo Biological, effective from September 8, 2025, to July 31, 2027 [1] - Yang Xia has a background in academia and has held various positions within the company, including Chairman and Director of the Research Institute [1] - Yang Xia is the controlling shareholder of the company, holding 67,766,972 shares [1]

Core Viewpoint - The governance structure of Jinbo Bio (832982.BJ) has undergone significant adjustments following the announcement of a 2 billion yuan fundraising plan involving Zhong Shanshan's company, marking a strategic collaboration between the two entities [1][4]. Group 1: Management Changes - On September 8, the company announced that founder and actual controller Yang Xia has taken over as General Manager, fully responsible for the company's operational management [2]. - The previous General Manager, Jin Xuekun, will continue to oversee the growth sectors, including medical aesthetics, gynecology, and scalp care, with the personnel structure remaining unchanged to ensure strategic continuity and market stability [2][3]. - Yang Xia, born in 1974, has been deeply involved in the company's development since 2008 and currently holds 58.89% of the company's shares [3]. Group 2: Financial Performance - For the first half of 2025, the company achieved a revenue of 859 million yuan, representing a year-on-year growth of 42.43%, while the net profit attributable to shareholders reached 392 million yuan, an increase of 26.65% [3]. - Sales expenses surged to 181 million yuan, a 67.77% increase compared to the same period last year, primarily due to rising salaries for sales personnel, increased stock incentive amortization, and heightened brand promotion investments [3]. Group 3: Strategic Collaboration - The recent management changes include the appointment of Chen Bin, a representative of Zhong Shanshan's affiliated party, to the new board of directors [4]. - Jinbo Bio plans to issue shares to Zhong Shanshan's Yanshengtang, raising a total of 2 billion yuan through a private placement of up to 7.1757 million shares [4]. - Following the completion of the transactions, Zhong Shanshan will hold a total of 10.58% of Jinbo Bio's shares, becoming the second-largest shareholder, while Yang Xia's stake will decrease to 50.73% [4].

山西锦波生物医药股份有限公司 章 程 二〇二五年九月 | 第一章 总则 1 | | --- | | 第二章 经营宗旨和范围 2 | | 第三章 股份 2 | | 第一节 股份发行 2 | | 第二节 股份增减和回购 3 | | 第三节 股份转让 5 | | 第四章 股东和股东会 6 | | 第一节 股东的一般规定 6 | | 第二节 控股股东和实际控制人 8 | | 第三节 股东会的一般规定 9 | | 第四节 股东会的召集 14 | | 第五节 股东会的提案与通知 15 | | 第六节 股东会的召开 16 | | 第七节 股东会的表决和决议 19 | | 第五章 董事和董事会 23 | | 第一节 董事的一般规定 23 | | 第二节 董事会 27 | | 第三节 独立董事 32 | | 第四节 董事会专门委员会 35 | | 第六章 高级管理人员 36 | | 第七章 财务会计制度、利润分配和审计 39 | | 第一节 财务会计制度 39 | | 第二节 内部审计 42 | | 第三节 会计师事务所的聘任 43 | | 第八章 合并、分立、增资、减资、解散和清算 43 | | 第一节 合并、分立、增资和减 ...

证券代码：832982 证券简称：锦波生物 公告编号：2025-153 山西锦波生物医药股份有限公司 2025 年第三次职工代表大会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别 及连带法律责任。 1. 会议召开时间：2025 年 9 月 6 日 14:00 2.会议召开地点：公司九楼会议室 3.会议召开方式：现场方式 4.会议主持人：任晓莉女士 6.召开情况合法、合规、合章程性说明： 一、会议召开和出席情况 （一）会议召开情况 会议召开符合《公司法》等有关法律、法规及《公司章程》的规定，表决 结果合法有效。 （二）会议出席情况 会议应出席职工代表 70 人，出席和授权出席职工代表 70 人。 二、议案审议情况 （一）审议通过了《关于选举李飞先生为公司第四届董事会职工代表董事的议 案》； 1.议案内容： 1 第四届董事会职工代表董事。 经核查，本次选举的职工代表董事李飞先生未被纳入失信联合惩戒对象名 单，不属于失信联合惩戒对象，符合《公司法》和《公司章程》等相关规定的 任职条件。 具体内容详见公司于同日在北京证 ...

证券代码：832982 证券简称：锦波生物 公告编号：2025-152 提名人山西锦波生物医药股份有限公司董事会，现提名邓泽林为山西锦波 生物医药股份有限公司第四届董事会独立董事候选人，并已充分了解被提名人 职业、学历、职称、详细的工作经历、全部兼职、有无重大失信等不良记录等 情况。被提名人已书面同意出任山西锦波生物医药股份有限公司第四届董事会 独立董事候选人（参见该独立董事候选人声明与承诺）。提名人认为，被提名人 具备独立董事任职资格，与山西锦波生物医药股份有限公司之间不存在任何影 响其独立性的关系，且提名人与被提名人不存在利害关系或者可能妨碍被提名 人独立履职的其他关系，具体声明并承诺如下： 一、被提名人已同时符合以下条件： （一）具备上市公司运作的基本知识，熟悉相关法律法规、部门规章、规 范性文件及北交所业务规则； （二）具有五年以上履行独立董事职责所必需的法律、会计或者经济等工 作经验； （三）具有良好的个人品德，不存在重大失信等不良记录； （四）北交所规定的其他条件。 二、被提名人任职资格符合下列法律法规、部门规章、规范性文件及北交 所业务规则的要求： （一）《公司法》关于董事任职资格的规定； 山西 ...