Group 1 - The core issue revolves around the investigation of the controlling shareholder, Jiang Wei, for insider trading, which has raised concerns about potential related party transactions and market trust in the company [1][2] - The company reported a significant decline in revenue growth, with a 1.64% increase projected for 2024, marking a four-year low, while traditional business segments are experiencing revenue declines [2][3] - The company's reliance on acquisitions for growth is being questioned, as the integration of acquired entities has shown mixed results, and R&D investment has decreased significantly [3][4] Group 2 - The company faces internal challenges, including governance issues and declining performance, while external pressures from industry competition and pricing strategies are intensifying [4] - The medical aesthetics sector is becoming increasingly competitive, with other players also facing challenges, indicating a potential end to the high-growth phase for hyaluronic acid products [3][4] - To regain market confidence, the company must address compliance, innovate in R&D, and diversify its business operations [4]

Group 1 - The article reports on share buybacks conducted by various companies on May 12, 2025, with AIA Group (01299) having the largest buyback amount of 1.25 billion, purchasing 2 million shares [1][2] - Other notable buybacks include China COSCO Shipping Holdings (01919) with 4.21 million shares bought back for 53.77 million, and Times Electric (03898) with 1.43 million shares for 47.22 million [2][3] - The total number of shares repurchased by AIA Group in the year reached 5.93 billion, accounting for 5.276% of its total share capital [2] Group 2 - China Hongqiao Group (01378) repurchased 1.13 million shares for 15.96 million, representing only 0.380% of its total share capital [2] - Swire Properties (00019) bought back 181,000 shares for 12.67 million, with a total annual repurchase of 5.56 million shares, which is 6.652% of its total [2] - The buyback activity reflects a trend among companies to utilize excess cash for share repurchases, potentially signaling confidence in their financial health [1][2]

Core Viewpoint - The company, Haohai Biological Technology Co., Ltd., is experiencing a decline in stock price and financial performance, with a current PE ratio significantly lower than the industry average, indicating potential undervaluation in the medical device sector [1][2]. Company Summary - Haohai Biological Technology's stock closed at 51.15 yuan, down 1.63%, with a rolling PE ratio of 28.87 times and a total market capitalization of 11.928 billion yuan [1]. - The company operates in the medical device and pharmaceutical sectors, focusing on the research, production, and sales of products such as ophthalmic viscoelastic devices, artificial lenses, and hyaluronic acid [1]. - For Q1 2025, the company reported revenue of 619 million yuan, a year-on-year decrease of 4.25%, and a net profit of 90.3121 million yuan, down 7.41%, with a gross profit margin of 69.52% [1]. Industry Summary - The average PE ratio for the medical device industry is 49.84 times, with a median of 36.59 times, positioning Haohai Biological Technology at the 65th rank within the industry [1][2]. - As of the latest report, three institutions hold shares in Haohai Biological Technology, with a total of 2.4635 million shares valued at 146 million yuan [1].

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 上海昊海生物科技股份有限公司（於中華人民共和國註冊成立的股份有限公司） 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 H | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 06826 | H 股 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 ...

Core Viewpoint - The company is facing significant challenges, including insider trading investigations, declining revenues and profits, and increased operational costs, leading to a loss of investor confidence and a substantial decrease in market capitalization [1][2][4]. Financial Performance - In Q1 2025, the company reported a revenue of 619 million yuan, a year-on-year decrease of 4.25%, and a net profit of 90.31 million yuan, down 7.41% [3][4]. - For the full year 2024, the company achieved a revenue of 2.698 billion yuan, a slight increase of 1.64%, but net profit fell by 8.74% [4][10]. - The medical beauty segment generated 1.195 billion yuan in revenue, accounting for 44.38% of total revenue, with a growth rate of 13.08% [5][6]. Segment Analysis - The hyaluronic acid products contributed 742 million yuan, showing a growth of 23.23%, but the growth rate has significantly slowed compared to previous years [6][7]. - The ophthalmology segment's revenue was 858 million yuan, down 7.60%, primarily due to price reductions from national procurement policies [8][9]. - The orthopedic segment also faced challenges, with revenue declining by 4.11% to 457 million yuan, impacted by provincial procurement price cuts [9]. Cost Structure - The total cost of the pharmaceutical manufacturing sector increased by 3.77%, with direct materials and labor costs rising by 10.14% and 19.49%, respectively [13][14]. - The medical beauty segment saw manufacturing costs surge by 22.94%, while the ophthalmology segment experienced a decrease in manufacturing costs but an increase in direct labor costs by 22.02% [14][15]. Subsidiary Performance - Several subsidiaries, including Likangrui and Aaren, reported significant losses, totaling over 97 million yuan, which adversely affected the consolidated profit [11][12].

Core Viewpoint - The company, Haohai Biological Technology (昊海生科), is facing significant challenges due to insider trading investigations involving its major shareholder, Jiang Wei, and a sharp decline in revenue growth and profitability in its core business segments, particularly in the medical aesthetics sector [1][2]. Financial Performance - In 2024, Haohai's revenue growth plummeted to 1.64%, with net profit only slightly increasing by 1.04%. In Q1 2025, both revenue and net profit further declined, with revenue decreasing by 4.25% and net profit dropping by 7.41% [1]. - The company announced a cash dividend of 231 million yuan in 2024, which accounted for 54.92% of its net profit, raising concerns about its financial sustainability amid declining performance [1][8]. Business Segments - The medical aesthetics segment, particularly the hyaluronic acid business, saw revenue of 742 million yuan in 2024, a significant slowdown from a 95.54% growth in 2023 to just 23.23% [5][6]. - The ophthalmology segment, as the second-largest supplier of artificial lenses in China, experienced a revenue decline of 7.60% in 2024, with specific product lines like artificial lenses and ophthalmic viscoelastic devices seeing drops of 14.06% and 19.53%, respectively [7][8]. Market Challenges - The hyaluronic acid market is facing intense competition, with over 400 brands and more than 50 approved Class III medical devices, leading to market saturation [5][6]. - The rise of alternative materials, such as collagen-based products, is impacting the demand for hyaluronic acid, with the retail market for collagen products projected to reach 173.8 billion yuan by 2027 [6]. - Regulatory changes have also affected the radiofrequency and laser equipment business, with new classifications requiring re-approval, leading to a 6.97% revenue decline in this segment [6]. Governance and Control - Jiang Wei and his wife, You Jie, control approximately 45.82% of the company’s shares, allowing them significant influence over corporate decisions despite Jiang not holding an official position [5][1]. - Concerns about corporate governance have been heightened due to the ongoing investigation into Jiang Wei, which may reflect deeper issues within the company's management practices [1][2].

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依 賴該等內容而引致的任何損失承擔任何責任。 Shanghai Haohai Biological Technology Co., Ltd.* 上海昊海生物科技股份有限公司 （股份代號：6826） 海外監管公告 本公告乃由上海昊海生物科技股份有限公司（「本公司」）根據《香港聯合交易所有 限公司證券上市規則》第13.10B條的規定刊發。 茲載列本公司在上海證券交易所網站刊登之《上海昊海生物科技股份有限公司獨 立董事工作細則》，僅供參考。 承董事會命 上海昊海生物科技股份有限公司 主席 侯永泰 中國上海，2025年5月9日 於本公告日期，本公司之執行董事為侯永泰博士、吳劍英先生、陳奕奕女士及 唐敏捷先生；本公司之非執行董事為游捷女士及黃明先生；及本公司之獨立非執 行董事為沈紅波先生、姜志宏先生、蘇治先生、楊玉社先生及趙磊先生。 * 僅供識別 （於中華人民共和國註冊成立的股份有限公司） 上海昊海生物科技股份有限公司 独立董事工作细则 上海昊海生物科技股份 ...

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依 賴該等內容而引致的任何損失承擔任何責任。 Shanghai Haohai Biological Technology Co., Ltd.* 上海昊海生物科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6826） 海外監管公告 本公告乃由上海昊海生物科技股份有限公司（「本公司」）根據《香港聯合交易所有 限公司證券上市規則》第13.10B條的規定刊發。 茲載列本公司在上海證券交易所網站刊登之《上海昊海生物科技股份有限公司獨 立董事候選人聲明與承諾（姜志宏、沈紅波、蘇治、楊玉社）》，僅供參考。 承董事會命 上海昊海生物科技股份有限公司 主席 侯永泰 中國上海，2025年5月9日 於本公告日期，本公司之執行董事為侯永泰博士、吳劍英先生、陳奕奕女士及 唐敏捷先生；本公司之非執行董事為游捷女士及黃明先生；及本公司之獨立非執 行董事為沈紅波先生、姜志宏先生、蘇治先生、楊玉社先生及趙磊先生。 * 僅供識別 上海昊海生物科技股份有限公司 ...

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依 賴該等內容而引致的任何損失承擔任何責任。 Shanghai Haohai Biological Technology Co., Ltd.* 上海昊海生物科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6826） 海外監管公告 本公告乃由上海昊海生物科技股份有限公司（「本公司」）根據《香港聯合交易所有 限公司證券上市規則》第13.10B條的規定刊發。 茲載列本公司在上海證券交易所網站刊登之《上海昊海生物科技股份有限公司獨 立董事提名人聲明與承諾（姜志宏、沈紅波、蘇治、楊玉社）》，僅供參考。 承董事會命 上海昊海生物科技股份有限公司 主席 侯永泰 中國上海，2025年5月9日 於本公告日期，本公司之執行董事為侯永泰博士、吳劍英先生、陳奕奕女士及 唐敏捷先生；本公司之非執行董事為游捷女士及黃明先生；及本公司之獨立非執 行董事為沈紅波先生、姜志宏先生、蘇治先生、楊玉社先生及趙磊先生。 * 僅供識別 上海昊海生物科技股份有限公司 ...

第 1 頁 共 2 頁 v 1.1.1 EF001 EF001 免責聲明 | 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 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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 上海昊海生物科技股份有限公司 | | 股份代號 | 06826 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2024年12月31日止年度的末期股息（更新） | | 公告日期 | 2025年5月9日 | | 公告狀態 | 更新公告 | | 更新/撤回理由 | (1)股東批准日期；(2)香港過戶登記處相關信息；及(3) 股息所涉及的代扣所得稅信息。 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2024年12月31日 | | 宣派股息的報告期末 | 2024年12月31日 | | 宣派股息 | 每 股 0.6 RMB | | ...