巨子生物(02367)发布公告，内容有关(其中包括)建议授出回购股份的一般授权。董事会谨此宣布，其计 划行使由股东根据于2025年6月13日的公司股东周年大会通过的决议案向董事授出的一般授权下的权 力，以购回公司股份。根据回购股份授权，公司获准购回不超过1.04亿股股份，即于股东周年大会通过 决议案之日已发行股份数目(不包括库存股份)的10%。该授权将于以下各项的最早发生时届满：(i)公司 下届股东周年大会结束时，或(ii)章程细则或其他适用法例规定公司下届股东周年大会须予举行期限届 满之日，或(iii)回购股份授权经由股东在股东大会上通过普通决议案撤销或修订之日。 ...

公司拟使用自有资金为上述股份回购计划提供资金，且公司预计实施该等计划将不会对集团的营运资金 状况产生重大不利影响。董事会认为当前股价低于其内在价值，并未充分反映公司的业务前景及资产价 值。股份回购计划反映董事会及管理层团队对集团的长期策略及增长充满信心。此外，股份回购计划也 将提高每股盈利等财务指标。董事会认为股份回购计划符合公司及股东的整体最佳利益，是资本管理及 优化资本结构的有效措施。 格隆汇12月2日丨巨子生物(02367.HK)宣布，其计划行使由股东根据于2025年6月13日的公司股东周年大 会通过的决议案向董事授出的一般授权下的权力，以购回公司股份。根据回购股份授权，公司获准购回 不超过103,590,400股股份，即于股东周年大会通过决议案之日已发行股份数目(不包括库存股份)的 10%。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 GIANT BIOGENE HOLDING CO., LTD 巨子生物控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 獲 豁 免 有 限 公 司） （股 份 代 號：2367） 自願性公告 擬根據回購股份授權回購股份 本公告乃由巨子生物控股有限公司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」） 自 願 作 出。 – 1 – 本 公 司 擬 使 用 自 有 資 金 為 上 述 股 份 回 購 計 劃 提 供 資 金，且 本 公 司 預 計 實 施 該 等 計 劃 將 不 會 對 本 集 團 的 營 運 資 金 狀 況 產 生 重 大 不 利 影 響。董 事 會 認 為 當 前 股 價 低 於 其 內 在 價 值，並 未 充 分 反 映 本 公 司 的 業 務 前 景 及 資 產 價 值。股 份 回 購 計 劃 反 映 董 事 會 ...

Core Viewpoint - The acquisition of 16.87 million shares of Sanrenxing by Yan Jianya, the chairman of Juzhi Biotechnology, positions him as the second-largest shareholder of the company, enhancing its strategic investment landscape [1][2]. Group 1: Share Transfer Details - The share transfer agreement involves the transfer of 16.87 million unrestricted shares, representing 8% of Sanrenxing's total equity, from the controlling shareholder to Yan Jianya [1]. - The transfer price is set at 26.76 yuan per share, totaling approximately 450 million yuan, which is slightly below the current market price of Sanrenxing [2]. Group 2: Yan Jianya's Background and Strategic Importance - Yan Jianya is recognized as a prominent entrepreneur and seasoned industrial investor, currently serving as the chairman of Triangular Defense and the chairman of Juzhi Biotechnology [2]. - His investment spans various sectors, including aerospace, advanced equipment manufacturing, new materials, biotechnology, and consumer goods, indicating a broad industry expertise [2][3]. Group 3: Sanrenxing's Business and Future Plans - Sanrenxing specializes in integrated marketing services within the advertising and media sector and has previously collaborated with Juzhi Biotechnology [3]. - The company aims to leverage strategic shareholder resources to enhance its business ecosystem, explore new industry avenues, and sustain growth [3]. Group 4: Previous Investments and Financial Performance - Sanrenxing has successfully exited its investment in Juzhi Biotechnology, realizing a profit of approximately 15.32 million yuan from a 200 million yuan stock sale [3]. - The company has also invested in other military-industrial chain enterprises, indicating a diversified investment strategy [3].

Core Viewpoint - The announcement by Sanrenxing (605168.SH) regarding the transfer of shares to Yan Jianya highlights a significant change in the company's ownership structure, with Yan becoming the second-largest shareholder after the transaction [1] Group 1: Share Transfer Details - Yan Jianya acquired approximately 16,865,359 shares for a total of about 451 million yuan, representing 8.00% of the company's total equity [1] - The share transfer price was set at 26.76 yuan per share, based on the closing price of the trading day prior to the signing and aligned with the lower limit of block trading prices [1] - Post-transaction, Yan Jianya will become the controlling shareholder and the second-largest shareholder outside of the company's concerted actions [1] Group 2: Yan Jianya's Background - Yan Jianya is a well-known entrepreneur and seasoned industry investor, currently serving as the chairman of listed company Triangle Defense and the chairman of the board of Juzhi Biotechnology [1] - His business interests span multiple sectors, including aerospace and military, advanced manufacturing, new materials, and biotechnology [1] - Yan and his concerted actions hold a total of 15.18% of shares in Triangle Defense and 55.34% in Juzhi Biotechnology, indicating significant equity stakes [1]

Core Insights - The article discusses the rising demand for sensitive skin care products in China, driven by a significant portion of the population experiencing skin sensitivity issues, with estimates suggesting that 30% of individuals are affected [3][4][6]. - The sensitive skin care market in China is projected to reach a scale of 66.44 billion yuan by June 2025, indicating a robust growth trajectory [4]. - Domestic brands, particularly those focusing on sensitive skin, have gained substantial market share, with brands like Winona and Huaxi Biological showing remarkable growth in sales and market presence [6][11][17]. Market Dynamics - The sensitive skin care market is characterized by a high incidence of skin sensitivity, with a daily occurrence rate of 64.1% among consumers [3]. - The demand for sensitive skin care products has led to the emergence of a billion-dollar market, with brands capitalizing on the need for effective solutions [4][6]. - The competitive landscape is shifting, with domestic brands outperforming international counterparts in terms of market share, reaching nearly 49.1% by 2022 [17]. Consumer Behavior - Consumers are increasingly willing to invest in skin care products to address their skin issues, often resorting to multiple purchases and trying various products to find effective solutions [6][25]. - The article highlights the psychological impact of skin conditions on consumers, leading to a cycle of purchasing and dissatisfaction as they seek effective remedies [9][28]. - The trend of "medical beauty" is on the rise, with a growing number of individuals seeking cosmetic procedures to enhance their appearance, further fueling the demand for sensitive skin care products [8][9]. Brand Strategies - Domestic brands have shifted their strategies from affordability to premium pricing, with significant price increases observed in their product lines [20][21]. - The article notes that brands are increasingly focusing on innovation and technology to differentiate themselves in a crowded market, with a notable increase in patent applications related to sensitive skin care [32]. - Marketing strategies have evolved, with brands now emphasizing product efficacy and scientific backing rather than solely relying on influencer endorsements [32][33].

Summary of Key Points Core Viewpoint - As of November 21, 14 stocks reached their 52-week highs, with Hengfa Optical (01134), Chaowei Holdings (08059), and Cassava Resources (00841) leading the gains at 42.11%, 30.56%, and 22.49% respectively [1]. 52-Week Highs - Hengfa Optical (01134) closed at 0.375, with a peak price of 0.540, marking a 42.11% increase [1]. - Chaowei Holdings (08059) closed at 0.030, reaching a high of 0.047, reflecting a 30.56% rise [1]. - Cassava Resources (00841) closed at 0.200, with a maximum price of 0.207, indicating a 22.49% increase [1]. - Other notable stocks include Sibor Systems (08319) at 15.04%, MOS HOUSE (01653) at 11.46%, and Tianjin Jianfa (02515) at 5.19% [1]. 52-Week Lows - China Pengfei Group (03348) reached a low of 1.100, down 20.09% from its peak [1]. - China Information Technology (08178) closed at 0.285, reflecting a 19.35% decrease [1]. - XL Ernan Strategy - U (09799) saw a decline of 14.27% [1]. - Other significant declines include Hesai - W (02525) at -10.54% and MBC Bitcoin - U (03425) at -9.09% [1]. Additional Notable Stocks - Stocks like MBC Bitcoin (03430) and Tongyuan Kang Pharmaceutical - B (02410) also experienced declines of 6.64% and 6.62% respectively [2]. - The overall trend indicates a mix of significant gains in certain stocks while others are facing substantial losses, reflecting a volatile market environment [1][2].

Group 1 - The core viewpoint of the article highlights that the stock price of Giant Bio (02367) has dropped over 3%, reaching a new low of 35.54 HKD, which is a significant decline from its peak in May [1] - The stock price has halved since its high point in May, indicating a severe downturn influenced by public opinion regarding collagen ingredients [1] - As of the report, the stock is down 3.46%, trading at 35.68 HKD with a transaction volume of 199 million HKD [1] Group 2 - According to Qingyan Intelligence, domestic brands secured 5 spots in the top 10 of the Douyin beauty list for this year's Double Eleven, while Giant Bio's brand, Kefu Mei, has fallen out of the top 10 [1] - On the Tmall beauty list for Double Eleven, Kefu Mei ranked 18th, a drop of 5 places compared to last year [1] - Reports indicate that Kefu Mei has consistently fallen out of the top 20 on the Douyin beauty list since June of this year [1] Group 3 - Jianghai Securities suggests that the increasing number of players in the collagen industry warrants attention on Giant Bio's future marketing strategies and sales performance for their products [1]

Core Viewpoint - The stock price of Giant Bio (02367) has dropped over 3%, reaching a new low of 35.54 HKD, reflecting a significant decline since May due to controversies surrounding collagen protein components [1] Company Summary - The stock price has halved since its peak in May, currently trading at 35.68 HKD with a trading volume of 199 million HKD [1] - The brand's product, Kefu Mei, has fallen out of the top 10 in the Douyin beauty rankings for this year's Double Eleven, and ranked 18th in the Tmall beauty rankings, a drop of 5 places from last year [1] - Kefu Mei has consistently dropped out of the top 20 in Douyin beauty rankings since June [1] Industry Summary - Domestic brands secured 5 out of the top 10 spots in the Douyin beauty rankings for this year's Double Eleven, indicating increased competition in the collagen protein market [1] - Jianghai Securities suggests monitoring Giant Bio's future marketing strategies and sales performance in response to the growing number of players in the collagen protein industry [1]

Investment Rating - The beauty and personal care industry is rated as "Recommended" [1] Core Insights - The overall market shows stable growth, with impressive performance in instant retail during the Double Eleven shopping festival, achieving a total e-commerce sales of 1,695 billion yuan, a year-on-year increase of 14.2% [2] - The beauty sector outperformed the overall e-commerce market, with skincare sales reaching 991 billion yuan and fragrance and makeup sales at 334 billion yuan, both showing double-digit growth [3] - Domestic brands are gaining strength, with notable performances from brands like Proya and Han Shu, while international luxury brands are also recovering [4][5] Summary by Sections Market Overview - The Double Eleven shopping festival saw a total e-commerce sales of 1,695 billion yuan, with a 14.2% year-on-year growth. Instant retail sales reached 67 billion yuan, marking a significant increase of 138.4% [2] Beauty Sector Performance - The beauty and skincare sales during Double Eleven reached 991 billion yuan, with fragrance and makeup sales at 334 billion yuan, both exceeding the overall market growth rate [3] Brand Analysis - On Tmall, domestic brands occupy five spots in the top 20 beauty brands, with Proya maintaining the top position. International brands like L'Oréal and Estée Lauder also showed improvements [4] - On Douyin, domestic brands hold five spots in the top 10 beauty brands, with Han Shu and Proya leading the rankings [5] Investment Recommendations - The report suggests focusing on brands with strong growth and performance certainty, such as MaoGeping and Marubi. Brands showing significant improvement include Shuiyang and Shanghai Jahwa, while companies with core technology and clear long-term trends like Juzibio are also recommended [6]