"对传统配方的现代诠释是福瑞达药食同源产品的鲜明特点。"明仁福瑞达副总经理刘杰向记者介绍，黄芪陈皮水配方源自宋代《太平惠民和剂局方》，乌 梅洛神水则契合《本草纲目》中"夏食酸以收之"的养生之道。在汲取中药智慧的基础上，产品更有现代科技元素加持：采用无菌冷灌、瞬时灭菌与0.2微 米过滤技术，确保草本精华活性；黄芪陈皮水添加福瑞达8万—20万小分子量透明质酸，可使肠道形成保护膜并为肌肤补充水分。中药精华与现代科技双 重加持，成就福瑞达抢抓"国潮养生"机遇的底气。 聚力共建"药食同源"产业链 记者了解到，除上述两款产品外，福瑞达还创新推出红参阿胶饮、金菊清压片糖果、多味谷物棒等多款"轻养生"产品，形成了丰富的药食同源产品矩阵。 近日，山东福瑞达医药集团（以下简称"福瑞达"）推出的两款产品黄芪陈皮水、乌梅洛神水在银座集团旗下多家超市上市，掀起"轻养生"消费热潮。 作为山东省"十强"产业集群（医养健康领域）领军企业，福瑞达近年来深度挖掘自身产学研一体化优势，特别是中药领域先进技术优势，聚力做强药食同 源产业链，引领"国潮养生"新风尚。 抢抓"国潮养生"机遇 当前，随着大健康时代的到来及政策红利的不断释放，饮食养生行业焕 ...

福瑞达（600223.SH）12月15日在投资者互动平台表示，公司与常州药物研究所有限公司曾就海大福瑞 达品牌开展业务合作，目前合作已到期。 每经AI快讯，有投资者在投资者互动平台提问：请问贵司与常州药物研究所有限公司是否有关联？其 长期使用海大福瑞达品牌。 （记者 王晓波） ...

南都记者统计了上美股份、珀莱雅、毛戈平、华熙生物、贝泰妮、福瑞达等6家中国头部美妆企业，以 及欧莱雅、雅诗兰黛两家国际美妆集团2024年的ESG报告（雅诗兰黛为2025财年），最终发现，针 对"绿色包装"这个美妆行业的特异性议题，倘若说早几年国货美妆企业还处于摸索阶段，但从2024年的 ESG报告可以看出，针对包装的减碳以及产品的循环消费等理念，已成为国内外美妆企业的共识。 趋势1 绿色包装成共识：国内外美妆企业加大投入力度 上美股份在推动产品的可持续及FSC®认证包装的落实方面，具体包括以下8条准则：选用森林管理委 员会FSC®认证的环保纸制作包装；包装纸盒印刷采用环保油墨代替石油油墨；选择可循环利用的塑胶 或生物基材料，尽可能减少使用玻璃等。华熙生物也和上美有类似的措施，并且还对产品包装的工艺进 行了改进，比如使用点胶形式替代塑料膜塑封。在包装的循环利用方面，其二次回收利用生产过程中产 生的废塑料、废外包装纸箱等废弃物，最大程度地减少废弃包装的产生数量等。 针对"绿色包装"板块的信披内容，较上述其他样本国货美妆企业，珀莱雅披露的最为详细，不仅组建 了"绿色包装工作小组"，还给出了"包装材料中可持续包装材料 ...

证券之星消息，12月9日化妆品板块较上一交易日下跌0.37%，嘉亨家化领跌。当日上证指数报收于 3909.52，下跌0.37%。深证成指报收于13277.36，下跌0.39%。化妆品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300132 | 青松股份 | 8.17 | 4.34% | 47.52万 | 3.83亿 | | 300856 | 科思股份 | 15.70 | 3.36% | 15.80万 | 2.52亿 | | 300849 | 锦盛新材 | 17.13 | 1.54% | 4.42万 | 7589.12万 | | 301371 | 敷尔佳 | 26.32 | 0.34% | - 3.45万 | 9122.82万 | | 603630 | 拉芳家化 | 20.41 | -0.15% | 1.73万 | 3528.57万 | | 600223 | 福瑞达 | 7.42 | -0.40% | 4.56万 | 3384.18万 | | 002094 | 青岛金王 ...

在当下，全球美妆行业正经历一场深刻变局，一方面，国际巨头凭借百年品牌积淀、雄厚的研发资本和 全球渠道网络，依然占据高端市场主导地位；另一方面，以中国品牌为代表的新兴力量，正凭借对本土 消费者的深度洞察、快速的市场反应和日益坚实的科技内核，强势崛起，不断重塑竞争格局。 根据中国香料香精化妆品工业协会的数据，我国美妆产业市场规模已经连续两年超过万亿，国货占比也 超过55%，2024年也有22个中国品牌跻身市场TOP50。中国化妆品产业正迎来黄金时代，并处于新时代 的新发展阶段：从规模优势到量质齐升的优势，从"制妆大国"迈向"制妆强国"的跨越，核心动力已从营 销流量转向科技创新与产业根基的比拼。 在此背景下，正值"十五五"规划的全新启动之际，中国美妆行业肩负着"十五五"期间成为制妆强国的使 命。如何把握机遇，更进一步？山东福瑞达（600223）生物股份（600201）有限公司董事长、总经理高 春明的答案颇具代表性："国家正在推动产业从'高速增长'向'高质量发展'的转型，对坚持研发驱动的企 业而言，这是最肥沃的土壤。"福瑞达生物深耕产业四十余年，其发展路径与战略选择，恰恰为国货美 妆如何锚定新质生产力、筑牢强国根基， ...

Core Viewpoint - The A-share market experienced its first significant adjustment after a slow bull run in November, with various brokerages providing research reports that serve as important guides for understanding company values and predicting future trends [2][9]. Group 1: Key Insights from Citic Securities - Citic Securities believes the market adjustment may present a good opportunity for building positions, with a focus on structural selection amid macroeconomic challenges [2][3]. - In November, Citic Securities covered 186 listed companies, with the highest target price increase for Great Wall Motors at 73.52%, indicating significant upside potential [3][5]. Group 2: High Target Price Companies from Huatai Securities - Huatai Securities identified seven major investment themes for 2026, with 27 companies having target price increases exceeding 50%, including SAIC Motor and China State Construction [7][8]. - Notably, Huatai Securities adjusted the target price for SMIC from 238 yuan to 196 yuan, still reflecting a 72.54% upside potential [7]. Group 3: Insights from Guotai Junan - Guotai Junan sees a favorable window for policy and liquidity in late 2025 to early 2026, with 23 companies having target price increases over 50%, led by Beijing Human Resources with a target price of 35.6 yuan [9][10]. - The company has seen a decline of 5.68% this year despite the bullish outlook [9]. Group 4: Focus on Baijiu Stocks from Huachuang Securities - Huachuang Securities maintains an optimistic long-term outlook, particularly for liquor stocks, with 10 companies having target price increases over 50%, including Kweichow Moutai with a target price of 2600 yuan [11][13]. - Kweichow Moutai has repurchased over 6 billion yuan worth of shares this year, indicating strong confidence in its future performance [11]. Group 5: Insights from Guotou Securities - Guotou Securities highlighted a structural shift in the A-share market, with 2 companies having target price increases over 50%, including Yunda Co. with a target price of 27.94 yuan [15][16]. - The firm anticipates significant profit recovery in wind turbine manufacturing due to rising prices [15]. Group 6: Insights from Dongfang Securities - Dongfang Securities covered 74 companies in November, with 3 having target price increases over 50%, including Aikodi with a target price of 30.5 yuan [17][21]. - The company is expected to expand its robot parts product matrix, projecting significant profit growth in the coming years [17].

Market Overview - On December 1, the cosmetics sector rose by 0.26% compared to the previous trading day, with BAWI leading the gains [1] - The Shanghai Composite Index closed at 3914.01, up 0.65%, while the Shenzhen Component Index closed at 13146.72, up 1.25% [1] Individual Stock Performance - BAWI shares closed at 15.93, up 2.38% with a trading volume of 16,900 lots and a transaction value of 26.70 million yuan [1] - Shanghai Jahwa closed at 23.61, up 1.77% with a trading volume of 49,400 lots and a transaction value of 116 million yuan [1] - Huachun Color closed at 28.22, up 1.00% with a trading volume of 16,000 lots and a transaction value of 45.40 million yuan [1] - Betaini closed at 41.52, up 0.56% with a trading volume of 27,900 lots and a transaction value of 116 million yuan [1] - Kohn shares closed at 16.44, up 0.55% with a trading volume of 161,900 lots and a transaction value of 263 million yuan [1] - Proya closed at 70.61, up 0.37% with a trading volume of 23,200 lots and a transaction value of 163 million yuan [1] - Qingdao King closed at 7.38, up 0.27% with a trading volume of 85,100 lots and a transaction value of 6.28 million yuan [1] - Marubi closed at 35.47, up 0.11% with a trading volume of 29,300 lots and a transaction value of 103 million yuan [1] - Lafang closed at 20.95, unchanged with a trading volume of 23,000 lots and a transaction value of 4.81 million yuan [1] - Qingsong shares closed at 7.53, down 0.13% with a trading volume of 129,100 lots and a transaction value of 96.89 million yuan [1] Fund Flow Analysis - The cosmetics sector experienced a net outflow of 49.52 million yuan from institutional funds, while retail investors saw a net inflow of 51.08 million yuan [2] - The overall fund flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are increasing their positions [2] Detailed Fund Flow by Stock - Jiahen Home's main funds saw a net inflow of 7.25 million yuan, while retail funds had a net outflow of 19.70 million yuan [3] - Shanghai Jahwa experienced a net inflow of 3.64 million yuan from main funds, with retail investors contributing a net inflow of 348.90 million yuan [3] - Kohn shares had a net inflow of 3.35 million yuan from main funds, but retail investors saw a net outflow [3] - BAWI experienced a net outflow of 0.50 million yuan from main funds, while retail investors had a net inflow of 164.42 million yuan [3] - Qingdao King saw a net outflow of 0.83 million yuan from main funds, but retail investors contributed a net inflow of 238.25 million yuan [3]

Investment Rating - The investment rating for the retail industry is "Positive" (maintained) [1] Core Views - The retail industry is experiencing a shift towards quality growth and long-term strategies, moving away from reliance on traffic bonuses [25][26] - The industry is focusing on emotional consumption themes, with high-quality companies in sectors like gold jewelry, offline retail, cosmetics, and medical aesthetics being highlighted as investment opportunities [5][29][30] Summary by Sections Retail Market Review - The retail industry index rose by 3.45% during the week of November 24-28, 2025, outperforming the Shanghai Composite Index by 2.05 percentage points [4][13] - The multi-format retail sector showed the highest growth this week, with a 6.18% increase, while the jewelry sector led the year-to-date performance with a 22.11% increase [18][19] Retail Insights: Brand Building and Technological Aesthetics - The 2025 Cosmetics Annual Conference highlighted the importance of brand building and technological aesthetics for domestic beauty brands to achieve growth [25][26] - Companies like Shiseido and Shanghai Jahwa are focusing on quality and profitability, while Elysian Group is transitioning from operational to technological drivers [26][27] Investment Recommendations - **Gold Jewelry**: Focus on brands with differentiated product offerings and consumer insights, recommending companies like Chow Tai Fook and Lao Pu Gold [5][29] - **Offline Retail**: Highlighting companies adapting to trends and exploring AI-enabled cross-border e-commerce, with recommendations for Yonghui Supermarket and Aiyingshi [5][30] - **Cosmetics**: Emphasizing brands that meet emotional value and safety innovation, recommending companies like Maogeping and Proya [5][30] - **Medical Aesthetics**: Targeting differentiated product manufacturers and expanding medical chains, recommending companies like Aimeike and Kedi-B [5][30] Company-Specific Insights - **Chow Tai Fook**: Achieved revenue of HKD 38.986 billion in FY2026H1, with a slight decline in revenue but a stable profit margin [36][37] - **潮宏基 (Chao Hong Ji)**: Reported a revenue increase of 28.4% in Q1-Q3 2025, with a strong performance in Q3 [39][40] - **永辉超市 (Yonghui Supermarket)**: Experienced a revenue decline of 22.2% in Q1-Q3 2025, but is undergoing a transformation towards quality retail [43][44]

Core Viewpoint - The company has established a fully integrated production system for three cosmetic raw materials: hyaluronic acid, collagen, and royal jelly acid, with significant production capacities for each [1]. Group 1: Production Capacity - The annual production capacity for hyaluronic acid is 420 tons [1]. - The company has built a complete production base for recombinant human collagen, enabling a full industry chain from core raw material research and production to end cosmetic manufacturing [1].

每经AI快讯，有投资者在投资者互动平台提问：董秘您好，请问公司是否有养老业务？ 福瑞达（600223.SH）11月28日在投资者互动平台表示，公司目前暂未涉及养老业务。 （记者 张明双） ...