智通财经APP讯，片仔癀(600436.SH)公告，公司拟参与投资中金(漳州)医疗产业投资合伙企业(有限合 伙)(暂定名，简称"中金医疗基金")。公司全资子公司漳州片仔癀投资管理有限公司(简称"片仔癀投资") 拟作为有限合伙人以自有或自筹资金认缴出资2亿元，占中金医疗基金目标募集规模的比例为20%。 据悉，本基金的主要投资领域为医疗大健康投资方向，主要投资于中医药、生物医药、医疗器械、医疗 服务、日化美妆和康养大健康等相关产业，包括但不限于片仔癀产业链项目、片仔癀产业园以及招商引 资落地漳州的项目。 ...

9月25日，由紫荆文化集团主办、紫荆杂志社承办的"2025香港国际中医药大会"在香港会议展览中心盛 大启幕。本次大会以"推动中医药高质量走向世界"为主题，汇聚来自中国内地及港澳台地区、东南亚等 国家和地区的近500位专家学者、行业领袖及企业代表，包括20余位院士、国医大师、岐黄学者，以及 超过130家参展机构。漳州片仔癀药业股份有限公司（以下简称"片仔癀公司"；股票代码：600436.SH） 作为中华老字号企业及中医药文化的重要代表受邀参展，携旗下多款核心产品亮相，全面展现片仔癀公 司在传统中医药现代化与国际化进程中的积极探索与成果。 片仔癀公司展区集中展示了包括片仔癀、片仔癀牌安宫牛黄丸、复方片仔癀含片、茵胆平肝胶囊等在内 的经典中成药品，以及化妆品与保健食品系列等大健康领域产品，吸引了众多重要嘉宾、专业观众、行 业专家及媒体前来参观交流、驻足咨询。来访者纷纷对片仔癀公司传承非遗技艺与推动科技创新的成果 表示赞赏，并高度认可片仔癀公司的产品品质与文化内涵。现场洽谈气氛活跃，进一步提升了品牌在粤 港澳大湾区及国际市场的知名度。 1.依托区域优势开拓"出海"新途径 此次参展是片仔癀公司推动中医药国际化、加速品牌 ...

Investment Rating - The report does not explicitly provide an investment rating for the beauty industry Core Insights - The beauty industry is experiencing a significant transformation driven by consumer preferences for high-quality, effective products and the integration of technology in skincare and cosmetics [4][6][10] Industry Trends - The high-end fragrance segment is witnessing robust growth, with the Chinese perfume market projected to reach 24.9 billion yuan by 2025 and exceed 33.9 billion yuan by 2028, reflecting a compound annual growth rate of 8% [4] - Domestic beauty brands are focusing on scientific innovation, market segmentation, and globalization to enhance competitiveness [6][7] - The integration of medical aesthetics and beauty is becoming a trend, with a projected annual growth rate of 10%-15% for the medical aesthetics market from 2024 to 2027 [10] - The beauty market is seeing a shift towards multi-brand strategies, with companies like Proya and Shiseido leading the way [6][11] Market Environment - Douyin e-commerce is revitalizing the perception of "Chinese good ingredients," enhancing consumer trust in domestic skincare products through educational campaigns [4] - The domestic beauty market grew by 3.1% in the first half of 2025, with significant performance disparities among companies [6] - The trend of "reverse export" to South Korea is emerging, as domestic brands seek to penetrate the Korean market through differentiated product offerings [6] Top Brand Dynamics - Proya leads the domestic beauty market with a revenue of 5.36 billion yuan, followed closely by other major players [11] - The report highlights the rise of makeup artist brands, with Unilever investing in Hung Vanngo Beauty, indicating a growing interest in professional makeup lines [13] - L'Oréal is accelerating its presence in the fragrance market with the launch of high-end perfumes, reflecting a strategic shift towards premium products [14] - The beauty industry is witnessing a surge in e-commerce, with platforms like JD.com reporting double-digit growth in beauty sales [18]

片仔癀牌雪肌润白系列历经十年科研攻关，开创品牌"雪肌因"，通过中式成分协调科技成分，能从色 素、光学、结构三大维度，实现养出健康白皙肌肤。"金牌屏障护理师"金线莲修护系列，引入了品牌自 研的金线莲提取物，专注敏感肌屏障修护，专门拯救敏感脆弱的皮肤。值得一提的是，片仔癀化妆品是 完成金线莲新原料备案的品牌，公司在漳州南靖打造了规范化金线莲种植基地，并借鉴汉唐"八繁之 功"制膏工艺，提取金线莲有效成分，保障原料活性与功效。而人参抗皱系列，则采用长白山5年的道地 林下参，通过超临界CO2萃取技术、生物转化技术等现代科技，保留人参的活性成分，让人参成分能够 更好的被皮肤吸收，不辜负每一株好人参。 9月25日至27日，中国香料香精化妆品工业协会主办的2025中国香料香精化妆品行业年会暨精品博览会 （2025CAME）在南京扬子江国际会议中心举办。这场以"科技 品牌 共进"为主题的高规格行业盛会， 被视为中国香妆产业创新实力的集中展示平台。此次展会上，片仔癀化妆品携旗下雪肌润白系列、金线 莲修护系列等核心产品和新品亮相。 片仔癀化妆品始终坚持以科技创新赋能传统草本成分新价值。通过构建了"产、学、研、医、检"五位一 体的科 ...

Market Overview - The Chinese medicine sector experienced a decline of 0.36% on September 25, with Enwei Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Stock Performance - Notable gainers included: - Weikang Pharmaceutical, closing at 25.25 with a rise of 9.83% and a trading volume of 135,600 shares, totaling 329 million yuan [1] - Yisheng Pharmaceutical, closing at 7.98 with a rise of 1.53% and a trading volume of 80,000 shares, totaling 6.41 million yuan [1] - Major decliners included: - Enwei Pharmaceutical, closing at 32.25 with a drop of 3.09% and a trading volume of 8,950 shares, totaling 2.91 million yuan [2] - Zhendong Pharmaceutical, closing at 6.85 with a drop of 2.97% and a trading volume of 508,400 shares [2] Capital Flow - The Chinese medicine sector saw a net outflow of 462 million yuan from institutional investors, while retail investors contributed a net inflow of 315 million yuan [2] - The table of capital flow indicates that: - Wanbangde had a net inflow of 23.44 million yuan from institutional investors, but a net outflow of 29.29 million yuan from retail investors [3] - Jilin Aodong experienced a net inflow of 21.10 million yuan from institutional investors, with outflows from both retail and speculative investors [3]

Core Viewpoint - Fujian is leveraging high-quality supply to create effective demand, showcasing a comprehensive expansion of domestic demand through various innovative and cultural initiatives [2][6]. Economic Performance - In the first half of the year, Fujian's GDP grew by 5.7% year-on-year, with total retail sales of consumer goods reaching 1.256 trillion yuan, marking a 6% increase compared to the previous year, and accelerating by 0.6 percentage points from the first quarter [2]. Technological Innovation - Companies like Panpan Foods are upgrading their production processes through smart technologies such as AI and IoT, achieving precision and automation in food processing. They are also investing in innovative health-oriented products, including low GI baked goods and new Chinese-style health drinks [3]. - The Frog Prince Group is enhancing its children's personal care products through digital transformation and smart upgrades, achieving a production rate of 78 bottles per minute on their automated lines [3]. Cultural and Experiential Offerings - The Pizaihuang Pharmaceutical Company is expanding its product line to include health-related items, reflecting a shift towards a broader health industry while maintaining its traditional product offerings [4]. - The Shunmei Ceramics workshop in Dehua is integrating cultural experiences into its offerings, attracting over 200,000 visitors annually to engage in hands-on pottery making [4]. Tourism and Community Development - Xunpu Village has transformed into a popular tourist destination, attracting over 4.26 million visitors in the first seven months of the year, generating tourism consumption exceeding 860 million yuan through immersive cultural experiences [5]. - The community in Siming District, Xiamen, is enhancing local services with nearly 2,000 shops, improving residents' quality of life and satisfaction through a well-developed local economy [6].

Core Insights - Fujian province is experiencing a robust economic growth with a GDP increase of 5.7% year-on-year in the first half of the year, and a retail sales total of 1.256 trillion yuan, reflecting a 6% increase, which is accelerating consumer-driven economic growth [1] Group 1: Supply and Demand Dynamics - The region is focusing on high-quality supply to stimulate demand, showcasing a diverse range of industries from traditional crafts to modern technology [1] - The integration of traditional techniques with modern technology is evident in companies like Dehua Shunmei Ceramics, which combines cultural creativity with ceramic products, attracting over 200,000 visitors annually [3] Group 2: Technological Advancements - Companies like Jianjiang Panpan Food are leveraging AI, 5G, and IoT technologies to enhance food processing, achieving precision and automation in production [2] - The introduction of innovative health-focused products, such as low GI baked goods and new Chinese-style health drinks, is part of a broader trend towards health-conscious consumerism [2] Group 3: Cultural and Experiential Offerings - The tourism sector in places like Xunpu Village is thriving, with over 4.26 million visitors in the first seven months of the year, generating over 860 million yuan in tourism consumption through immersive cultural experiences [4] - The establishment of community-centric services in Xiamen, including a variety of shops and upgraded electrical infrastructure, enhances residents' quality of life and supports local businesses [4] Group 4: Market Trends and Future Outlook - The emphasis on high-quality supply is seen as a key driver for market demand and economic development, indicating a vibrant and promising future for the Fujian economy [5]

Core Viewpoint - The A-share market appears bullish on the surface, but underlying currents indicate significant divergence among investment styles and logic, leading to a "purging" of weaker stocks [1] Group 1: Market Dynamics - There is an unprecedented level of divergence between sectors, with high-valued tech stocks remaining strong while blue-chip and white-horse stocks decline sharply [1] - Approximately 70% of individual stocks are either stagnant or declining, highlighting a symbolic distinction between "old stocks" and "new stocks" [1] Group 2: Performance of Key Stocks - "Old stocks" such as liquor, real estate, coal, electricity, banks, and insurance are underperforming, while "new stocks" in AI, computing power, semiconductors, and robotics are thriving [3] - For instance, stocks like Midea Group and Kweichow Moutai have seen minimal gains or losses, while companies like Shenghong Technology and Dongxin Co. have experienced significant increases of 696.45% and 407.03%, respectively [3] Group 3: Industry Challenges - The liquor industry is facing a downturn, with a 0.9% decline in revenue to 239.7 billion yuan in the first half of the year, and a 5% drop in the second quarter due to a "ban on alcohol" [6][7] - Only 6 out of 23 listed liquor companies reported positive revenue and net profit growth, indicating a severe contraction in the sector [6] Group 4: Investment Trends - Investors are increasingly shifting focus from traditional sectors to technology, with notable figures like Lin Yuan publicly acknowledging investments in AI and semiconductor companies [8][9] - The current bull market is characterized by a lack of fundamentals, with capital flows driven more by narrative and "mind monopoly" rather than earnings per share (EPS) [9] Group 5: Future Outlook - The AI and semiconductor sectors are seen as having the potential for strong customer loyalty and ecological monopolies, similar to established brands in the liquor industry [12] - However, there are concerns about the sustainability of current valuations, as many companies in these sectors may not survive the inevitable market corrections [16]

● 每股分配比例： A股每股现金红利1.40元（含税）。 一、通过分配方案的股东大会届次和日期 2025年6月20日，漳州片仔癀药业股份有限公司（以下简称"公司"）召开2024年年度股东大会，审议通 过《公司关于2024年度利润分配预案》，授权董事会在符合相关前提下决定2025年内的利润分配方案并 实施。 证券代码：600436 证券简称：片仔癀 公告编号：2025-031 漳州片仔癀药业股份有限公司 2025年半年度权益分派实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 2025年8月28日，公司召开第七届董事会第三十三次会议，审议通过《公司2025年中期利润分配预 案》。 二、分配方案 1.发放年度：2025年半年度 2.分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分公司（以下简 称"中国结算上海分公司"）登记在册的本公司全体股东。 3.分配方案： 本次利润分配以方案实施前的公司总股本603,317,210股为基数，每股派发现金红利1.40元（含税），共 ...

Core Viewpoint - The company has increased its dividend payout ratio significantly, reflecting strong financial performance and commitment to shareholder returns [1][3]. Group 1: Dividend Announcement - The company announced a cash dividend of 1.40 yuan per share (including tax) for the first half of 2025 [3]. - The dividend payout ratio has risen from 40.30% to 58.56% of the current net profit attributable to shareholders [1]. - The total dividend amount for the period is approximately 845 million yuan, representing a 21.74% increase compared to 694 million yuan in the same period of 2024 [1]. Group 2: Shareholder Engagement - The dividend distribution will cover all shareholders registered by the close of trading on September 29, 2025 [3]. - The ex-dividend date and the date of cash dividend distribution are set for September 30, 2025 [3]. - The company aims to enhance investor confidence through this increased dividend payout [1].