兴证国际(06058)发布公告，公司间接全资附属公司CISI Investment自2025年8月21日至2025年9月18日期 间，于公开市场购买本金总额为1900万美元的票据，总代价为约1909.42万美元。 ...

格隆汇9月18日丨兴证国际(06058.HK)公告，公司间接全资附属公司CISI Investment自2025年8月21日至 2025年9月18日期间，于公开市场购买本金总额为1900万美元票据，总代价为约1909.4万美元。 ...

智通财经APP讯，兴证国际(06058)发布公告，公司间接全资附属公司CISI Investment自2025年8月21日 至2025年9月18日期间，于公开市场购买本金总额为1900万美元的票据，总代价为约1909.42万美元。 ...

China Industrial Securities International Financial Group Limited 興證國際金融集團有限公司 (於開曼群島註冊成立之有限公司) (股份代號：6058) 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之內容概不負責，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 致之任何損失承擔任何責任。 有關購買票據之須予披露交易 購買事項 本公司間接全資附屬公司CISI Investment自二零二五年八月二十一日至二零二五年九月十 八日期間，於公開市場購買本金總額為19,000,000美元(相當於約149,150,000港元)之票據， 總代價為約19,094,247美元(相當於約149,889,836港元)。 上市規則之涵義 儘管上市規則第14.07條項下有關本次購買事項(獨立計算)的所有適用百分比率不超過5%， 但是上市規則第14.07條項下有關購買事項與過往購買事項合併計算的其中一項適用百分 比率超過5%但低於25%，購買事項構成本公司之須予披露交易，故須遵守上市規則第14章 項下有關 ...

China Industrial Securities International Financial Group Limited (於開曼群島註冊成立之有限公司) (股份代號：6058) 自願公告 業務發展最新情況 本公告乃由興證國際金融集團有限公司(「本公司」，連同其附屬公司統稱「本集團」)自願作 出。 於二零一六年十一月一日，本公司與Nomura International PLC (「Nomura」)訂立擔保「( 擔保」)， 據此，本公司同意向Nomura提供一項擔保，擔保CISI Investment Limited (本公司間接全資附 屬公司)與Nomura所訂立的國際掉期及衍生工具協會協議的全部責任，為配合本集團未來投資 計劃，本公司通過內部管理方式控制將擔保金額由10萬美元提升至5000萬美元。 據本公司董事作出一切合理查詢後所知、所悉及確信，Nomura及其最終實益擁有人為本公司 及其關連人士(定義見香港聯合交易所有限公司證券上市規則，「上市規則」)的獨立第三方。 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之內容概不負責，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 ...

向中國工商銀行(亞洲)有限公司(「工銀亞洲」)提供50,000,000美元擔保 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之內容概不負責，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 致之任何損失承擔任何責任。 China Industrial Securities International Financial Group Limited 興證國際金融集團有限公司 (於開曼群島註冊成立之有限公司) (股份代號：6058) 自願公告 業務發展最新情況 本公告乃由興證國際金融集團有限公司(「本公司」，連同其附屬公司統稱「本集團」)自願作 出。 恆生銀行及渣打銀行及其各自之最終實益擁有人為本公司及其關連人士(定義見香港聯合交 易所有限公司證券上市規則，「上市規則」)的獨立第三方。 本公司與工銀亞洲訂立日期為二零二五年九月十六日的擔保(「擔保甲」)，據此，本公司同意 向工銀亞洲提供一項擔保，擔保CISI Investment Limited (「CISI Investment」) (本公司間接全 資附屬公司)與工銀亞洲所訂立的全球回購協議的 ...

Core Viewpoint - The report from Xingzheng International maintains an "overweight" rating for Maogeping (01318), expecting continued growth momentum in the second half of the year due to a low base effect and the launch of new products in the fourth quarter [1] Group 1: Sales Performance - In the first half of 2025, the company's sales reached 2.588 billion yuan, a year-on-year increase of 31.3% [2] - Makeup revenue accounted for 1.422 billion yuan, representing 55.1% of total sales, with a growth rate of 31.1% [2] - The core base makeup products, including the caviar cushion and soft silk powder, each surpassed 200 million yuan in retail sales, validating the effectiveness of the big product strategy [2] - Skincare revenue was 1.087 billion yuan, making up 42.0% of total sales, with a year-on-year growth of 33.4% [2] Group 2: Profitability Metrics - The company's gross margin for the first half of 2025 was 84.2%, impacted by rising unit costs from makeup upgrades and increased training expenses [3] - The selling and distribution expense ratio was 45.2% [3] - Net profit reached 670 million yuan, a year-on-year increase of 36.1%, with the net profit margin improving by 0.9 percentage points to 25.9% due to enhanced operational efficiency and reduced listing expenses [3] Group 3: Brand Positioning and Market Expansion - The total number of members exceeded 19 million, with offline repurchase rates at 30.3% and online repurchase rates at 24.1%, indicating increasing brand loyalty [4] - The company plans to continue launching advanced perfumes, high-end skincare, and multifunctional makeup products centered around Eastern aesthetics [4] - The distribution strategy includes deepening offline presence in department stores and shopping centers while enhancing online efficiency through content and live streaming, with plans to open a new counter in Hong Kong and expand into Singapore, Japan, and South Korea [4]

Core Viewpoint - The company maintains a "buy" rating, expecting continued growth in the second half of the year due to a low base effect and the launch of new products in Q4, supported by a high-end membership system and Eastern aesthetic positioning [1] Group 1: Sales Performance - In H1 2025, the company's sales reached 2.588 billion yuan, a year-on-year increase of 31.3%, with color cosmetics contributing 1.422 billion yuan, accounting for 55.1% of total sales and growing by 31.1% [2] - The core base makeup products achieved retail sales exceeding 200 million yuan each, validating the effectiveness of the big product strategy [2] - The company launched a co-branded perfume with the Palace Museum in May, generating sales of 11.41 million yuan in two months, with plans to introduce more Eastern-themed fragrance products throughout the year [2] - Skincare revenue reached 1.087 billion yuan, representing 42.0% of total sales and a growth of 33.4%, with key products like caviar masks and black cream continuing to gain traction [2] Group 2: Profitability and Margins - The company's gross margin in H1 2025 was 84.2%, impacted by rising unit costs from color cosmetics upgrades and increased training expenses [3] - The selling and distribution expense ratio was 45.2%, but net profit margin improved by 0.9 percentage points to 25.9% due to enhanced operational efficiency and reduced listing expenses, resulting in a net profit of 670 million yuan, a year-on-year increase of 36.1% [3] Group 3: Brand Positioning and Market Expansion - The company has over 19 million members, with offline and online repurchase rates at 30.3% and 24.1% respectively, indicating strong brand loyalty [4] - Future product launches will focus on Eastern aesthetics, including advanced perfumes, high-end skincare, and multifunctional color cosmetics [4] - The company plans to enhance its distribution channels through a combination of department stores and shopping centers offline, and content-driven and live-streaming strategies online, with plans to open a new store in Hong Kong and expand into Singapore, Japan, and South Korea [4]

Core Viewpoint - The report from 兴证国际 highlights the strong performance and strategic initiatives of 时代天使 (06699) in the first half of 2025, emphasizing its ability to adapt to market conditions and maintain its leading position through various measures such as price adjustments and market expansion [1] Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of $161 million, representing a year-on-year growth of 33.1%, with a gross margin of 62.4% and an adjusted net profit of approximately $20 million, up 84.8% year-on-year [2] - The global market outside of China contributed approximately $72 million in revenue, a significant increase of 123.4% year-on-year, accounting for 44.4% of total revenue [2] - The domestic market generated $90 million in revenue, showing a modest growth of 0.7% year-on-year, while operating profit reached approximately $17 million, up 52.1% year-on-year, with an operating profit margin of 19.2%, an increase of 6.5 percentage points [2] Group 2: Market Expansion and Strategy - The total number of cases reached 225,800 in the first half of 2025, reflecting a year-on-year increase of 47.7%, with 117,200 cases outside of mainland China, a growth of 103.5% [3] - In mainland China, the company achieved approximately 108,600 cases, a 14.0% increase year-on-year, driven by strategic price adjustments and a focus on early treatment and lower-tier markets [3] - The revenue growth in the domestic market lagged behind the case growth due to a decline in average selling prices [3] Group 3: Globalization and Service Enhancement - The company is expanding its market presence outside of mainland China by leveraging high-quality medical design support and stable delivery, along with continuous education and training led by key opinion leaders [4] - Plans are in place to establish or expand manufacturing and design facilities in key global locations, such as Brazil and Southeast Asia, to support operations in the U.S. [4] - Significant resources are being allocated to upgrade data security facilities and operational processes to comply with data security and privacy regulations in all major countries and regions where the company operates [4]

智通财经APP获悉，兴证国际发布研报称，建议关注时代天使(06699)。2025年上半年公司灵活应对市场 环境，通过策略性价格调整、早期矫治和下沉市场深耕等多重举措取得了案例数显著增长的成绩，维持 龙头地位;同时，公司在全球化布局方面进展亮眼，案例数及收入贡献超预期，海外影响力持续提升、 全球供应链及服务能力持续构建。上半年，海外利润端显示出良好表现，彰显经营性盈利能力提升的趋 势和潜力，期待逐步进入收获期，贡献稳定业绩回报。 海外案例数持续超预期增长，国内市场以价换量 2025年上半年共达成案例数22.58万例，同比增长47.7%，其中：1)中国内地以外全球市场，公司达成案 例数11.72万例，同比增长103.5%，占达成案例总数的51.9%。2)中国内地市场，公司达成案例数约10.86 万例，同比增加14.0%，主要由于公司为应对激烈竞争而进行的策略性价格调整，同时，公司持续加强 早期矫治领域和下沉市场的布局;国内业务收入增速低于案例数增速主要由于平均售价的下降。 全球化拓展深化，综合全球智造和本地化服务的优势 公司凭借高质量的医学设计支持、稳定的交付，结合由关键意见领袖主导的持续性教育培训以及为重要 战 ...