证券简称：锦波生物 证券代码：920982.BJ 山西锦波生物医药股份有限公司 Shanxi Jinbo Bio-Pharmaceutical Co., Ltd. 山西省转型综合改革示范区太原唐槐园区锦波街 18 号 2025 年度向特定对象发行股票 募集说明书 （修订稿） 保荐机构 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 签署日期：二零二五年十二月 声明 本公司及控股股东、实际控制人、全体董事、董事会审计委员会成员、高级管理人员承诺募集 说明书不存在虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性、完整性承担相应的法律 责任。 本公司负责人和主管会计工作的负责人、会计机构负责人保证募集说明书中财务会计资料真实、 准确、完整。 对本公司发行证券申请予以注册，不表明中国证监会和北京证券交易所对该证券的投资价值或 者投资者的收益作出实质性判断或者保证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，本公司经营与收益的变化，由本公司自行负责，由此变化引致的投资 风险，由投资者自行负责。 1-1-1 | 声明 | 1 | | --- | --- | | 目录 | 2 | | 第一节 ...

证券代码：920982 证券简称：锦波生物 公告编号：2026-001 山西锦波生物医药股份有限公司 敬请广大投资者关注，并注意投资风险。 特此公告。 山西锦波生物医药股份有限公司 董事会 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、发行人"）申请向特定 对象发行股票并在北京证券交易所上市（以下简称"本次股票发行"），于 2026 年 1 月 22 日收到中国证券监督管理委员会《关于同意山西锦波生物医药股份有 限公司向特定对象发行股票注册的批复》（证监许可〔2026〕114 号），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。 公司董事会将按照上述批复文件要求及公司股东会的授权在规定期限内办 理本次向特定对象发行股票相关事宜，并及时履行信息披露义务。 关于公司向特定对象发行股票获得中国证监会注册批复 2026 年 1 月 22 日 ...

4-1-1 | | 页 次 | | --- | --- | | 、审计报告 | 1-7 | | 、财务报表 | 8-19 | | (一) 合并资产负债表 | 8-9 | | (二) 合并利润表 | 10 | | (三) 合并现金流量表 | 11 | | (四) 合并所有者权益变动表 | 12-13 | | (五) 母公司资产负债表 | 14-15 | | (六) 母公司利润表 | 16 | | (七) 母公司现金流量表 | 17 | | (八) 母公司所有者权益变动表 | 18-19 | 4-1-2 审计报告 中汇会审[2024]2226号 山西锦波生物医药股份有限公司全体股东: 一、审计意见 我们审计了山西锦波生物医药股份有限公司(以下简称锦波生物)财务报表, 包括2023年12月31日的合并及母公司资产负债表,2023年度的合并及母公司利润 表、合并及母公司现金流量表、合并及母公司所有者权益变动表以及财务报表附 注。 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制, 公允反映了锦波生物2023年12月31日的合并及母公司财务状况以及2023年度的合 并及母公司经营成果和现金流量。 二、形 ...

上海市锦天城律师事务所 关于山西锦波生物医药股份有限公司 2025 年度向特定对象发行股票的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 | 声明事项 1 | | | --- | --- | | 释 义 3 | | | 正 文 5 | | | 一、 | 本次发行的批准和授权 5 | | 二、 | 发行人本次发行的主体资格 6 | | 三、 | 发行人本次发行的实质条件 7 | | 四、 | 发行人的设立 9 | | 五、 | 发行人的独立性 10 | | 六、 | 发行人的发起人、股东及实际控制人 11 | | 七、 | 发行人的股本及其演变 12 | | 八、 | 发行人的业务 13 | | 九、 | 关联交易及同业竞争 14 | | 十、 | 发行人的主要财产 15 | | 十一、 | 发行人的重大债权债务 16 | | 十二、 | 发行人的重大资产变化及收购兼并 17 | | 十三、 | 发行人章程的制定与修改 17 | | 十四、 | 发行人股东（大）会、董事会、监事会议事规则 ...

中信证券股份有限公司 关于 山西锦波生物医药股份有限公司 向特定对象发行股票 之 发行保荐书 保荐人（主承销商） 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 二零二五年十二月 | 目 | 录 1 | | --- | --- | | 声 | 明 2 | | 第一节 | 本次证券发行基本情况 3 | | | 一、保荐人名称 3 | | | 二、保荐代表人、项目协办人及其他项目组成员情况 3 | | | 三、本次保荐的发行人证券发行的类型 5 | | | 四、发行人情况 5 | | | 五、保荐人与发行人存在的关联关系 9 | | | 六、保荐人内部审核程序和内核意见 10 | | 第二节 | 保荐人承诺事项 12 | | 第三节 | 对本次证券发行上市的推荐意见 13 | | | 一、本次发行的推荐结论 13 | | | 二、本次发行履行了法定决策程序 13 | | | 三、本次发行符合相关法律规定 14 | | | 四、对发行人落实《关于首发及再融资、重大资产重组摊薄即期回报有关事 | | | 项的指导意见》的核查情况 19 | | | 五、发行人存在的主要风险 19 | | | 六、对发行人发 ...

中信证券股份有限公司 关于 山西锦波生物医药股份有限公司 向特定对象发行股票 之 上市保荐书 保荐机构（主承销商） 广东省深圳市福田区中心三路8号卓越时代广场（二期）北座 二〇二五年十二月 山西锦波生物医药股份有限公司向特定对象发行股票申请文件 上市保荐书 声 明 | 声 | 明 1 | | --- | --- | | 目 | 录 2 | | 第一节 | 发行人基本情况 4 | | 一、公司概况 4 | | | 二、主营业务介绍 4 | | | 三、公司主要经营和财务数据及指标 5 | | | 四、发行人存在的主要风险 8 | | | 第二节 | 本次发行情况 12 | | 一、发行股票的种类和面值 12 | | | 二、发行方式 12 | | | 三、发行对象及认购方式 12 | | | 四、定价原则和发行价格 12 | | | 五、发行数量 13 | | | 六、募集资金投资项目 13 | | | 七、限售期 14 | | | 八、上市地点 14 | | | 九、本次向特定对象发行股票前公司的滚存未分配利润归属 14 | | | 十、关于本次向特定对象发行股票决议有效期限 14 | | | 第三节 | 保 ...

Market Overview - The medical beauty sector experienced a decline of 1.35% on January 20, with *ST Meigu leading the drop [1] - The Shanghai Composite Index closed at 4113.65, down 0.01%, while the Shenzhen Component Index closed at 14155.63, down 0.97% [1] Stock Performance - Key stocks in the medical beauty sector showed the following performance: - Huaxi Biological (688363) closed at 45.82, down 0.82% with a trading volume of 35,000 shares and a turnover of 161 million yuan [1] - Aimeike (300896) closed at 144.82, down 1.59% with a trading volume of 30,000 shares and a turnover of 436 million yuan [1] - Jinbo Biological (920982) closed at 234.11, down 1.96% with a trading volume of 6,327 shares and a turnover of 149 million yuan [1] - *ST Meigu (000615) closed at 3.24, down 2.70% with a trading volume of 106,900 shares and a turnover of 34.95 million yuan [1] Capital Flow - The medical beauty sector saw a net outflow of 100 million yuan from main funds, while retail investors contributed a net inflow of 74.88 million yuan [1] - Detailed capital flow for key stocks includes: - *ST Meigu: Main funds net outflow of 11.12 million yuan, retail net inflow of 6.93 million yuan [2] - Jinbo Biological: Main funds net outflow of 25.90 million yuan, retail net outflow of 1.30 million yuan [2] - Huaxi Biological: Main funds net outflow of 31.89 million yuan, retail net inflow of 22.38 million yuan [2] - Aimeike: Main funds net outflow of 57.26 million yuan, retail net inflow of 45.57 million yuan [2]

Investment Rating - Investment rating: Positive (maintained) [1] Core Insights - The luxury goods retail revenue in China is showing signs of recovery, with high-end brands like LVMH, Hermès, and Prada experiencing positive growth since Q2 2025 [15][16] - The global network literature market is witnessing rapid growth, particularly in Latin America, with WebNovel reaching nearly 400 million cumulative users by October 2025 [34][35] - The micro-drama and comic-drama market in China is projected to exceed 100 billion yuan in 2025, significantly surpassing the film box office revenue [37][38] - The probiotic market is expanding, with a focus on next-generation probiotics (NGPs) like AKK bacteria, which show significant potential in health applications [55][63] Summary by Sections 1. Duty-Free Shopping - Post-New Year duty-free shopping in Hainan shows strong growth, with sales reaching 3.89 billion yuan and a 49.6% year-on-year increase in shopping amount [31][33] - The high net worth individuals are expected to drive luxury consumption, with a notable increase in spending on preservation-type luxury goods [15][16] 2. Network Literature - The Chinese network literature market reached 49.55 billion yuan in 2024, with a 29.37% year-on-year growth, while the overseas market grew by 10.68% [34] - WebNovel has cultivated nearly 530,000 authors and over 820,000 original works, with a significant increase in user engagement [34][35] 3. Micro-Drama - The micro-drama and comic-drama market in China is expected to reach 100 billion yuan in 2025, with a 98% year-on-year growth [37][38] - The user base for micro-dramas is approaching 700 million, with a strong preference among female viewers [40][42] 4. Probiotics - The global probiotic market is projected to grow at a CAGR of 8.7%, reaching 93.49 billion USD by 2028, with China's market expected to reach 134.89 billion yuan by 2024 [55][63] - Next-generation probiotics like AKK bacteria are gaining traction, with significant potential in health management and consumer interest [55][63]

Group 1 - The financing balance of the North Exchange is approximately one-third of that of the ChiNext, indicating lower investor sentiment and market activity [1][11] - The North Exchange's financing balance reached a historical high of 92.85 billion yuan as of January 14, 2026, with a financing balance of 92.84 billion yuan [11][12] - The North Exchange's financing balance as a percentage of market capitalization was 1.25% in 2025, significantly lower than the ChiNext (3.57%) and the Sci-Tech Innovation Board (2.97%) [15][18] Group 2 - The North Exchange 50 Index reported 1,548.33 points, with a P/E ratio of 64.92X, while the North Exchange specialized and new index reached 2,666.88 points with a P/E ratio of 83.81X [2][32] - The average P/E ratios for key sectors in the North Exchange are as follows: high-end equipment (42.38X), information technology (96.48X), new chemical materials (47.82X), consumer services (49.03X), and biomedicine (37.32X) [39][44] - The North Exchange has seen a significant increase in daily trading volume, with an average of 409.81 billion yuan, up 55.52% from the previous week [31][33] Group 3 - The report recommends focusing on high-performing stocks within the North Exchange 50 and technology growth companies, particularly those with strong new production capabilities and scarcity attributes [46] - Recent IPOs have shown strong performance, with the first new stock of 2026, Kema Materials, experiencing a first-day increase of 371.27% [2][24] - The report highlights the active trading of North Exchange 50 constituent stocks, which generally show higher activity levels in financing and margin trading compared to non-constituent stocks [19][20]

Group 1 - The medical beauty sector increased by 0.18% on January 14, with Ai Meike leading the gains [1] - The Shanghai Composite Index closed at 4126.09, down 0.31%, while the Shenzhen Component Index closed at 14248.6, up 0.56% [1] - Major stocks in the medical beauty sector showed varied performance, with Ai Meike closing at 151.77, up 0.30%, and Jinbo Biological down 1.14% at 238.58 [1] Group 2 - The net inflow of main funds in the medical beauty sector was 5.91 million yuan, while retail funds saw a net inflow of 12.26 million yuan [1] - The main funds for Ai Meike had a net inflow of 17.77 million yuan, while retail funds had a net inflow of 4.15 million yuan [2] - Jinbo Biological experienced a significant net outflow of main funds at 43.53 million yuan, indicating a negative trend [2]