Core Viewpoint - Runben Co., Ltd. plans to invest 600 million yuan in a new R&D and production base in Guangzhou to enhance its research and production capabilities, expand its business scope, and solidify its market position as it continues to experience revenue growth [2][4]. Group 1: Financial Performance - In 2024, Runben achieved a revenue of 1.318 billion yuan, a year-on-year increase of 27.61%, and a net profit of 300 million yuan, up 32.80%, both reaching historical highs [2][8]. - The company has maintained a revenue growth rate exceeding 20% for five consecutive years since 2020 [3][8]. - Revenue for 2022 and 2023 was 856 million yuan and 1.033 billion yuan, reflecting year-on-year growth of 47.06% and 20.66%, respectively [8]. Group 2: Investment and Expansion Plans - Runben plans to build a new R&D base in the Guangzhou Knowledge City, with an investment of 600 million yuan, aimed at meeting the growing demand for production and research [2][4]. - The new base will include office, R&D, living, and manufacturing areas, supporting the development of personal care, cosmetics, and medical products [4][5]. Group 3: Product Performance - In 2024, the mosquito repellent series generated 439 million yuan in revenue, up 35.39%, while the infant care series reached 690 million yuan, increasing by 32.42% [8]. - The company introduced several new products in 2024, enhancing its product matrix and brand value [8]. Group 4: Research and Development - Runben's R&D expenses increased from 19.51 million yuan in 2022 to 35.07 million yuan in 2024, indicating a steady rise in investment in innovation [10]. - As of the end of 2024, the company employed 151 R&D personnel, accounting for 16.4% of its total workforce [11]. Group 5: Profitability Metrics - The gross profit margins for Runben from 2022 to 2024 were 54.19%, 56.35%, and 58.17%, showing a consistent upward trend [9]. - In Q1 2025, the gross profit margin reached 57.67%, compared to 55.69% in the same period the previous year [12].

润本生物技术股份有限公司 2024 年年度股东大会会议资料 润本生物技术股份有限公司 2024 年年度股东大会 会议资料 2025 年 5 月 7 日 1 润本生物技术股份有限公司 2024 年年度股东大会会议资料 目 录 | 2024 | | 年年度股东大会须知………………………………………………………….3 | | | | --- | --- | --- | --- | --- | | 2024 | | 年年度股东大会议程………………………………………………………….5 | | | | 议案一：关于《2024 | | 年年度报告及摘要》的议案…………….………………….7 | | | | 议案二：关于《2024 | | 年度利润分配方案》的议案……………… …………….8 | | | | 议案三：关于《2024 | | 年度董事会工作报告》的议案………………..…..………..9 | | | | 议案四：关于《2024 | | 年度监事会工作报告》的议案………………..…………..16 | | | | 议案五：关于公司董事、高级管理人员 | | 年度薪酬发放情况及 年度薪 2024 | | 2025 | ...

Core Insights - The report emphasizes the emergence of "emotional consumption" as a significant trend in the retail industry, particularly benefiting brands that resonate with consumers' emotional needs [2][3][28] - The retail sector is experiencing a slow recovery, with varying performance across different segments, highlighting the resilience of brands linked to emotional value [3][10][39] Industry Review - In Q1 2025, social consumption showed a slow recovery, with retail businesses facing overall pressure. However, segments related to "emotional value" consumption, particularly leading brands, performed significantly better than the industry average [3][10][39] - The jewelry sector is under pressure due to high gold prices, while cross-border e-commerce remains stable but with profit pressures. The medical beauty and cosmetics sectors are facing intense competition, and offline retail is still exploring transformative models [3][6][39] Segment Analysis Jewelry - The jewelry industry is experiencing a shift in brand competition, with traditional brands facing challenges from differentiated product brands that are rapidly emerging and achieving high growth [6][39] - In Q1 2025, the jewelry sector's revenue was 431.6 billion yuan, down 25.9% year-on-year, with net profit also declining [39][64] Cosmetics - The cosmetics sector is benefiting from the rise of emotional consumption, with a focus on high-demand segments such as high-end beauty and differentiated personal care brands [5][39][64] - Brands like Mao Ge Ping and Proya are highlighted for their strong performance in this evolving market [5][39] Medical Beauty - The medical beauty sector is expected to recover as domestic demand increases, with a focus on differentiated product lines [5][39] - Companies like Ai Meike and Kedi-B are recommended for their unique offerings [5][39] Offline Retail - Offline retail is leveraging emotional consumption to regain market share, with companies like Yonghui Supermarket and Aiyingshi being recommended for their proactive transformation efforts [5][39] - The report notes that the shift towards a direct-to-consumer (DTC) model is crucial for offline retailers to enhance customer experience and emotional satisfaction [69] Investment Recommendations - For the jewelry sector, brands with differentiated product capabilities and deep consumer insights are recommended, including Lao Pu Gold and Chao Hong Ji [5][66] - In the cosmetics space, the report suggests focusing on high-demand segments and brands that can continuously innovate [5][66] - The medical beauty sector is advised to consider companies with unique product lines, such as Ai Meike and Kedi-B [5][66] - The report highlights the importance of emotional value in driving consumer preferences, suggesting that brands that can effectively tap into this trend will outperform their peers [5][66]

润本股份 20250506 摘要 在品类方面，我们对运动护理给予较高的测试预期，目标为 30%到 40%的增 长；驱蚊产品按照往年的正常增速目标设定为 20%到 25%；精油类产品更新 • 山姆渠道从 3 月初开始上架，3 月份销售收入约为 1,200 万元，4 月份超 过 2000 万元，已达到当前阶段性的收入预期，净利率约为 28%，基本没 有投放费用。 • 公司通过组合销售日常护肤品与防晒产品提升单品销量，新面霜和洗护类 产品未来可能会继续提价，产品品类结构变化对售价影响显著，整体客单 价从原来的 30 元左右提升至接近 40 元。 预期较低，大概是 10%到 15%。核心品类仍然是护理和驱蚊。在渠道方面， 本地渠道预计有 50%到 60%的增长；天猫渠道大概 15%；京东约 20%；飞 亚达经销商则保持在 40%左右。 润本股份在 2024 年取得了超预期的成绩，请问主要做了哪些工作？ 2024 年我们在新品和渠道两方面进行了重点投入。在新品方面，我们推出了 室内电热蚊香液加定时功能，以及户外便携装驱蚊喷雾，这两个产品销售情况 良好。在渠道方面，我们首次在抖音平台重点推广驱蚊产品，并取得了市占率 第一 ...

Group 1 - Ningde Times announced a share buyback plan with a total fund of 40 billion to 80 billion yuan, having repurchased 6.641 million shares, accounting for 0.1508% of the total share capital, with a total expenditure of 1.551 billion yuan [1] - Guoxin Technology successfully tested its quantum-resistant password chip AHC001, which is based on a domestic 28nm process and features low power consumption and high security, aimed at high-security applications [2] - Jingcheng Co. plans to introduce investors through a capital increase and share expansion for its subsidiary Tianhai Hydrogen Energy, with details yet to be determined [3] Group 2 - Weir Shares' shareholder plans to exchange up to 10 million shares for an open-ended index fund, representing 0.82% of the total share capital, aimed at optimizing asset allocation [4] - Zhejiang University Network New committed 33 million yuan to invest in a venture capital fund focusing on artificial intelligence and robotics, with a total target size of 100 million yuan [5] - Huayi Group intends to acquire 60% of San Aifu for 4.091 billion yuan to expand its business in fluorine fine chemicals, with funding sourced from its own or self-raised funds [6] Group 3 - Huina Technology's controlling shareholder is planning a change of control, leading to a temporary suspension of stock trading [7] - Tongyu Heavy Industry's actual controller will change from Zhuhai State-owned Assets Supervision and Administration Commission to Shandong State-owned Assets, following a share transfer agreement [8] - Kangxi Communication terminated its major asset restructuring plan and shifted to a strategic investment plan to acquire 35% of Shenzhen Chip Zhongxin Technology [9] Group 4 - Huafeng Measurement Control's shareholder plans to transfer 2.9% of its shares due to funding needs, with the transfer price set at a minimum of 70% of the average trading price over the previous 20 trading days [10] - Xiangyuan Cultural Tourism reported a 50.47% year-on-year increase in revenue during the May Day holiday [13] - Sairisi's April new energy vehicle sales increased by 12.99% year-on-year [13]

Investment Rating - The industry investment rating is "Outperform the Market" [1][36]. Core Insights - During the May Day holiday (May 1-5), the total inter-regional population flow is expected to reach 1.467 billion, with a daily average of 293 million, representing a year-on-year increase of 8.0% [3][5]. - Railway passenger volume is projected to be 101.69 million, with a daily average of 20.34 million, up 10.8% year-on-year; civil aviation passenger volume is expected to be 11.14 million, with a daily average of 2.23 million, up 11.8% year-on-year [3][5]. - The travel market is seeing a strong recovery, with significant growth in long-distance travel destinations and a 20% year-on-year increase in outbound travel orders [3][5]. - Alibaba upgraded its instant retail business, Taobao "Xiaoshida," to Taobao "Shangou," which will cover over 50 cities and aims for nationwide coverage by May 6 [3][6]. - In April, Douyin's beauty category GMV reached 17.501 billion, with skincare products accounting for 11.862 billion and makeup products for 4.948 billion [3][8]. Summary by Sections Industry Dynamics: Travel - The May Day holiday is expected to see a total of 1.467 billion inter-regional trips, with significant increases in railway and civil aviation passenger volumes [5]. - Long-distance travel destinations are performing well, with a notable increase in family and pet travel, and a resurgence in cruise travel [3][5]. Industry Dynamics: Retail - Alibaba's Taobao "Shangou" aims to enhance instant retail services by collaborating with Ele.me for subsidies exceeding 10 billion [6]. Industry Dynamics: Beauty - Douyin's beauty category shows strong performance, with a total GMV of 17.501 billion in April, indicating robust market activity [8][9]. - The top 20 beauty brands on Douyin are undergoing changes, with significant self-operated brand representation [8][9]. Company Dynamics: Beauty - MAOGEPING launched a new fragrance series in collaboration with the Palace Museum, showcasing a blend of cultural elements [11][15]. - Huaxi Biological's product "Runbaiyan·Bobo" has been approved as the first Class III medical device for facial skin improvement in China [21][20].

证券代码：603193 证券简称：润本股份 公告编号 2025-022 润本生物技术股份有限公司 重要内容提示： 1.本项目投资金额、建设周期及实施进度等均为预估值，尚存在不确定性， 公司将根据经营计划、资金情况及协议条款分步实施。 2.本项目在实施过程中，可能会受到宏观经济环境、行业发展趋势及国家或 地方政策变化等不确定性因素影响。 一、交易概述 润本生物技术股份有限公司（以下称"公司"）秉承"为消费者美好健康生 活创造价值"的企业使命与发展战略：在客户端，公司以消费者为中心，通过线 上渠道与消费者深度且高效地互动，不断优化消费者使用体验，持续开发满足消 费者痛点需求的新产品；在供应链端，公司以产品品质为发展根基，通过客户端 反馈的消费者需求与使用体验，不断提升产品研发能力、优化产品品质、丰富产 品矩阵，通过自有供应链的打造与完善，为消费者提供质优价优的国货产品。 上述 C2M 的供应链壁垒是公司的重要战略布局，也是公司持续扩大产销规模、 提高产品市场占有率及整体竞争优势的核心驱动力，而 C2M 壁垒需要公司不断提 升优化自身的供应链能力。在此背景下，公司拟在广州市黄埔区中新广州知识城 国际生物医药创新园投 ...

证券代码：603193 证券简称：润本股份 公告编号：2025-023 润本生物技术股份有限公司 关于召开2025年第一次临时股东大会的通知 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： 一、 召开会议的基本情况 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 5 月 22 日 15 点 30 分 召开地点：广东省广州市天河区珠江新城华夏路 28 号富力盈信大厦 40 楼润 本生物技术股份有限公司会议室 股东大会召开日期：2025年5月22日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (一)股东大会类型和届次 2025年第一次临时股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 5 月 22 日 至2025 年 5 月 22 日 采用上海证券交易所网络投票系统，通过交 ...

证券代码：603193 证券简称：润本股份 公告编号：2025-021 润本生物技术股份有限公司 第二届董事会第八次会议决议公告 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。 一、董事会会议召开情况 润本生物技术股份有限公司（以下简称"公司"）第二届董事会第八次会议 于 2025 年 5 月 6 日在公司会议室以通讯的方式召开。会议通知已于 2025 年 4 月 30 日通过书面文件、电子邮件的方式送达各位董事。本次会议应出席董事 5 人， 实际出席董事 5 人，各位董事以通讯形式参与本次会议。董事长赵贵钦先生为 会议主持人，公司监事及高级管理人员列席会议。本次会议的召集、召开和表决 程序符合《公司法》等有关法律、行政法规、部门规章、规范性文件和《公司章 程》的规定。 二、董事会会议审议情况 经与会董事认真审议，会议形成了如下决议： 2024 年，公司已率先竞得位于中新广州知识城国际生物医药创新园，凤亨 一路以北，凤亨二路以南，康联三路以西 ZSCB-E3-3 地块，面积约 3.2953 万 平方米的国有建设用地使用权，并于 ...

Investment Rating - The investment rating for the company is "Buy" [6] Core Views - The company's performance met expectations, with a revenue increase of 28% in 2024 and a net profit increase of 33%, driven by product expansion and channel diversification [1][5] - In Q1 2025, revenue grew by 44% and net profit by 25%, indicating strong growth momentum [1] - The company is focusing on product upgrades and channel expansion, with significant growth in online sales, particularly through platforms like Douyin [4][5] Summary by Sections Performance Overview - In 2024, the company achieved a revenue of 1.32 billion (up 28%) and a net profit of 300 million (up 33%) [1] - For Q1 2025, revenue reached 240 million (up 44%) and net profit was 40 million (up 25%) [1] Product Development - The company has seen significant success in its product upgrades, with a gross margin of 58.2% in 2024 and a net margin of 22.8% [2] - In Q1 2025, the gross margin was 57.7%, while the net margin decreased to 18.4% due to financial expenses and government subsidies [2] Market Segmentation - In Q1 2025, the baby care segment accounted for 77% of total sales, up 9 percentage points, with a notable increase in average selling prices driven by high-ticket new products [3] Sales Channels - Online sales saw a remarkable growth of 80% in Q1 2025, with significant contributions from platforms like Douyin, Tmall, and JD [4] - The company has expanded its offline presence by entering new channels such as Pang Dong Lai and Yonghui [4] Research and Development - The company is committed to rapid product iteration, with new launches in sunscreen and youth care products expected in 2025 [5] - The introduction of bundled product offerings is aimed at increasing sales of complementary items [5] Financial Forecast - The company is projected to achieve revenues of 1.71 billion, 2.14 billion, and 2.67 billion in 2025, 2026, and 2027 respectively, with corresponding net profits of 390 million, 487 million, and 605 million [5][10]