Consumption Trends - The emotional economy market in China is expected to exceed 20 trillion yuan in 2024, with a projected CAGR of 14% from 2025 to 2029[3][60]. - The beauty consumption market is projected to reach nearly 370 billion yuan by 2025, with the retail sales of cosmetics in China estimated at 465.3 billion yuan in 2025, reflecting a year-on-year growth of 5.1%[5][51]. - The health food market is anticipated to reach 720.3 billion yuan by 2029, driven by increasing health awareness and aging population[5]. Policy and Market Dynamics - The Chinese government has prioritized boosting consumption as a key task for 2025, with policies supporting consumption upgrades and equipment renewal[5][9]. - Changing consumer behavior emphasizes emotional value, health, and personalized consumption, indicating a shift towards emotional and social fulfillment in purchasing decisions[5][9]. Key Industry Insights - The maternal and infant food market is projected to reach approximately 55.91 billion yuan in 2024, with the number of maternal and infant chain stores increasing from 21,000 in 2019 to 32,000 in 2024[5]. - The pet economy is expected to grow significantly, with the market size reaching 701.3 billion yuan in 2024, reflecting an 18% year-on-year increase[58]. Investment Opportunities - Companies in the North Exchange related to beauty consumption include Jinbo Biological, Bawei Co., and Vicky Technology, which are positioned to benefit from the ongoing growth in the beauty sector[5][52]. - The health food sector includes leading brands like Kangbiter and Yizhi Konjac, which are well-placed to capitalize on the rising demand for health-oriented products[5].

Group 1 - The core viewpoint of the article is that Kangbiter (920429.BJ) has completed its first share buyback to instill market confidence amid weak stock performance influenced by market sentiment and sector adjustments [1][2]. Group 2 - In the past week, the main highlight for Kangbiter has been its share buyback action, where on February 10, 2026, the company announced the completion of its first buyback, acquiring 51,000 shares, which represents 0.04% of the total share capital, for a total amount of approximately 785,400 yuan, with a maximum transaction price of 15.43 yuan per share and a minimum of 15.36 yuan per share [2]. Group 3 - The recent stock performance of Kangbiter has shown a weak and volatile trend, consistent with the overall performance of the food and beverage sector. As of February 12, 2026, the closing price was 15.20 yuan, reflecting a cumulative decline of 1.68% over the past five days, with a price fluctuation range of 4.84%. On the day of the buyback announcement, February 10, the stock price fell by 0.71%, with a trading volume of approximately 13.26 million yuan and a turnover rate of 0.76%. During the same period, the food and beverage sector index decreased by 2.90%, indicating that the company's stock price volatility is primarily driven by market sentiment and sector-wide adjustments [3].

证券代码：920429 证券简称：康比特 公告编号：2026-016 北京康比特体育科技股份有限公司 首次回购股份暨回购进展情况公告 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、 回购方案基本情况 （一）审议及表决情况 北京康比特体育科技股份有限公司（以下简称"公司"）于 2026 年 1 月 9 日召开第 六届董事会第十八次会议，审议通过《关于公司回购股份方案的议案》，根据《北京证 券交易所上市公司持续监管指引第 4 号——股份回购》《公司章程》等相关规则制度规 定，本事项无需提交股东会审议。 (二)回购股份的目的 基于对公司未来发展的信心和对公司价值的认可，提升公司股票长期投资价值，综 合考虑公司经营情况、财务状况以及未来的盈利能力等因素，公司拟以自有资金及银行 提供的股票回购专项贷款资金回购公司股份。本次回购的股份将用于实施股权激励，以 此进一步完善公司治理结构，构建长期激励与约束机制，确保公司长期经营目标的实现， 提升公司整体价值。 (三)回购股份符合相关条件的情况 本次回购股份符合《北京 ...

1. 回购股份的基本情况 （1）回购股份种类：公司发行的人民币普通股（A 股） （2）回购用途： √实施员工持股计划或者股权激励 □减少注册资本 □转换上市公司发行的可转换为股票的公司债券 证券代码：920429 证券简称：康比特 公告编号：2026-015 北京康比特体育科技股份有限公司 回购股份报告书 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。 重要内容提示： □维护上市公司价值及股东权益所必需 （3）回购规模：不低于人民币 3,000 万元（含），不超过人民币 5，000 万元（含）。 一、 审议及表决情况 北京康比特体育科技股份有限公司（以下简称"公司"）于 2026 年 1 月 9 日召开 第六届董事会第十八次会议，审议通过《关于公司回购股份方案的议案》，根据《北 京证券交易所上市公司持续监管指引第 4 号——股份回购》《公司章程》等相关规则 制度规定，本事项无需提交股东会审议。 （4）回购价格区间：不超过 25 元/股 （5）回购资金来源：公司自有资金及中国银行股份有限公司中关村支行提供 ...

(一)信息披露义务人基本情况 | 1、基本情况 | | | | | --- | --- | --- | --- | | 信息披露义务人 | 名称 | 持股变动时间 | | | 银晖国际有限公司 | | 2026年1月7日-2026年2月2日 | | | 股票简称 | 康比特 | 证券代码 | 920429 | | 变动类型 | 增加□ 减少√ | 是否存在一致行 | 是□ 否√ | | | | 动人 | | | 是否为公司第一大股东、实际控制人或 股东、实际控制人或其一致行动人 | | 是□ 否√ | | | 2、本次权益变动情况 | | | | | 股东名称 | 变动方式 | 减持股份（股） | 减持比例 | | 银晖国际有限公司 | 集中竞价 | 290,000 | 0.2329% | （二）本次权益变动前后，信息披露义务人及其一致行动人拥有上市公司权 证券代码：920429 证券简称：康比特 公告编号：2026-014 北京康比特体育科技股份有限公司 持股5%以上股东权益变动达到1%的提示性公告 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 ...

事件：公司公告 2025 年业绩预告，根据未经会计师事务所审计的初步核算 数据，预计实现归母净利润 0.32~0.40 亿元，同比-64.17%~-55.21%，实现 扣非净利润 0.31-0.37 亿元，同比-64.44%~-57.55%。按中值计算归母净利 润约为 0.36 亿元，同比-59.69%，其中单 Q4 预计实现归母净利润 0.21 亿 元，同比-10.83%。 原材料成本持续压制利润率，公司积极调整实现环比扭亏。报告期内公司受 国际市场供需格局变化影响，公司核心原材料分离乳清蛋白、浓缩乳清蛋白 价格持续走高并维持高位运行，原材料成本端承压显著，进而导致公司产品 综合毛利率出现较大幅度下滑。但公司积极优化产品结构，加大市场开拓与 客户培育力度，多措并举提升经营效益，实现 Q4 利润环比扭亏，经营能力 稳中向好。 依靠专业服务为运动员赋能，以创新研发奠定产品竞争力基石。2025 年， 公司技术服务覆盖 25 个省市级项目，护航队伍在第十五届全运会斩获 10 金 6 银 7 铜的优秀成绩。同时赞助专业赛事超 100 场，为 1000+专业运动员提 供营养赞助品，专业实力广受认可。产品端，公司从国人体 ...

Financial Forecast - The company forecasts a net profit attributable to shareholders between ¥32 million and ¥40 million for 2025, representing a decline of 64.17% to 55.21% compared to the previous year's net profit of ¥89.31 million[5]. - The net profit after deducting non-recurring gains and losses is expected to be between ¥31 million and ¥37 million, reflecting a decrease of 64.44% to 57.55% from last year's figure of ¥87.17 million[5]. - The performance forecast data is preliminary and has not yet been audited, with final figures to be disclosed in the 2025 annual report[7]. Cost Structure and Profitability - The significant decline in profit is primarily due to rising prices of core raw materials, including whey protein isolate and whey protein concentrate, which have pressured the company's cost structure and led to a substantial drop in overall gross margin[4]. Strategic Initiatives - The company plans to optimize its product structure and enhance market development and customer cultivation efforts to mitigate the impact of cost fluctuations on operational efficiency[6].

Group 1 - The food processing sector increased by 1.22% on January 29, with Sanquan Foods leading the gains [1] - The Shanghai Composite Index closed at 4157.98, up 0.16%, while the Shenzhen Component Index closed at 14300.08, down 0.3% [1] - Key stocks in the food processing sector showed significant price increases, with Sanquan Foods rising by 4.19% to a closing price of 11.93 [1] Group 2 - The food processing sector experienced a net inflow of 1.09 billion yuan from institutional investors, while retail investors saw a net outflow of 5457.21 million yuan [2] - Major stocks like Anjuke Foods and Sanquan Foods had substantial net inflows from institutional investors, with Anjuke Foods receiving 57.76 million yuan [3] - Retail investors showed a negative trend, with significant outflows from stocks such as Sanquan Foods and Guangming Meat Industry [3]

Core Viewpoint - On January 21, a total of 6 stocks in the A-share market will face the lifting of restrictions on share sales, with a total of 45.1683 million shares being unlocked, amounting to a market value of 1.983 billion yuan based on the previous trading day's closing price [1]. Summary by Category Stock Unlocking Data - The stocks facing the lifting of restrictions include: - JINLV Environment (Stock Code: 001230) with 25.4796 million shares and a market value of 615 million yuan [1]. - SHENGNAN Technology (Stock Code: 920006) with 11.8817 million shares and a market value of 328 million yuan [1]. - BUKO Co., Ltd. (Stock Code: 688160) with 6.8322 million shares and a market value of 1.018 billion yuan [1]. - HAOYUE Nursing (Stock Code: 605009) with 418,300 shares and a market value of 13.6791 million yuan [1]. - GUANGYANG Co., Ltd. (Stock Code: 002708) with 345,000 shares and a market value of 4.7783 million yuan [1]. - KANGBIT (Stock Code: 920429) with 211,500 shares and a market value of 3.6082 million yuan [1]. Top Stocks by Unlocking Quantity - The top three stocks by unlocking quantity are: - JINLV Environment with 25.4796 million shares [1]. - SHENGNAN Technology with 11.8817 million shares [1]. - BUKO Co., Ltd. with 6.8322 million shares [1]. Top Stocks by Unlocking Market Value - The top three stocks by unlocking market value are: - BUKO Co., Ltd. with 1.018 billion yuan [2]. - JINLV Environment with 615 million yuan [2]. - SHENGNAN Technology with 328 million yuan [2].

证券代码：920429 证券简称：康比特 公告编号：2026-011 北京康比特体育科技股份有限公司股权激励计划 限制性股票解除限售公告 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、本次股票解除限售数量总额为 211,500 股，占公司总股本 0.17%，可交易时 间为 2026 年 1 月 21 日。 二、本次股票解除限售的明细情况及原因 单位：股 | | | 是否为 控股股 | | | | 本次变 | | 本次解 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 股东 | | | 本次 | 本次解 | | | 除限售 | 尚未解 | | | 姓名 | 东、实际 | | 解限 | 除限售 | 更限售 | 变更后 | 股数占 | 除限售 | | 序号 | | 控制人 | 任职情况 | | | 类型登 | 限售类 | | | | | 或名 | 或其一 | | 售原 | 登记股 | 记股票 | 型 | 公司总 ...