证券日报网讯12月18日，珀莱雅（603605）在互动平台回答投资者提问时表示，公司严格按照监管要求 及时履行信息披露义务，不存在应披露而未披露的事项。公司以提高公司质量为基础，坚持稳健经营， 夯实多元化品牌矩阵和全渠道布局；持续加强投资者沟通，常态化召开业绩说明会，及时回应投资者关 切；积极回报投资者，提高分红频次和分红比例，增强投资者回报水平和获得感。公司将持续做好经营 管理工作，提高公司核心竞争力和盈利能力，进一步提升公司投资价值和股东回报能力。 ...

证券日报网讯 12月18日，珀莱雅在互动平台回答投资者提问时表示，公司重视投资者回报，坚持稳健 经营，公司将持续在公司治理、日常经营等相关事项决策中充分考虑投资者利益和回报，增强投资者回 报水平和获得感。 （编辑 丛可心） ...

证券日报网讯12月18日，珀莱雅（603605）在互动平台回答投资者提问时表示，公司股价波动受多重因 素的影响，公司将持续做好经营管理工作，坚持稳健经营，强化公司战略执行，夯实多元化品牌矩阵和 全渠道布局，持续打造与优化核心大单品矩阵，提高品牌力、产品力、科技力，促进公司稳健高质量发 展。有关信息请以公司在上海证券交易所网站披露的信息为准。 ...

Core Viewpoint - The company, Proya (603605), emphasizes its commitment to enhancing operational management, core competitiveness, and profitability to increase investment value and shareholder returns [1] Group 1 - The company will continue to focus on improving operational management [1] - The company aims to enhance its core competitiveness and profitability [1] - The company is dedicated to increasing investment value and shareholder return capabilities [1]

Group 1 - The company is enhancing investor communication by regularly holding performance briefings with management present to engage with investors [2] - During these briefings, the company addresses operational results, development strategies, and financial metrics, actively responding to investor concerns [2]

Core Viewpoint - The company, Proya, has reaffirmed its commitment to timely information disclosure in accordance with regulatory requirements, indicating no undisclosed matters exist [1] Group 1 - The company has implemented multiple measures aimed at improving quality and efficiency, reflecting its strong confidence in future development and long-term investment value [1] - The operational development of the company is stable, and its business strategy is being steadily advanced [1] - The company's proprietary brands cover various beauty sectors, including refined skincare, makeup, hair care, and high-efficacy skincare [1]

证券日报网讯12月18日，珀莱雅（603605）在互动平台回答投资者提问时表示，公司在公司治理、日常 经营等相关事项决策中充分考虑投资者利益和回报，2025年10月，公司完成2025年半年度权益分派，进 一步提高分红频次和分红比例，增强投资者回报水平和获得感。公司将持续通过良好的业绩表现、规范 的公司治理，积极回报投资者，推动公司高质量发展。有关信息请以公司在上海证券交易所网站披露的 信息为准。 ...

Core Insights - The company Proya (603605) showcased 14 research achievements at the 35th IFSCC 2025 International Cosmetic Science Conference and won the "IFSCC 2025 Top Ten Basic Research Award," becoming the only Chinese cosmetics company to receive this award this year [1] Group 1: Research and Development - The company emphasizes investment in research and development, with three major centers located in Hangzhou, Shanghai, and Europe [1] - The company aims to continuously drive technological and industrial innovation through scientific innovation [1] Group 2: Global Strategy - The company is focused on enhancing its global research and development system to empower product innovation and continuously improve brand strength, product quality, and technological capabilities [1]

Summary of Key Points from Conference Call Records Industry Overview - The conference call discusses the **large consumption sector**, highlighting the emergence of new consumer demands that drive growth in the sector through new products (personalized, green, low-carbon), new channels (snack chains, discount formats), and new business models (diverse consumption scenarios) supported by the "14th Five-Year Plan" [1][2]. Core Insights and Arguments - **Traditional Consumption Recovery**: The traditional consumption sector is expected to recover by 2026, driven by the release of residents' purchasing power and policy measures aimed at boosting employment and income stability. The food and beverage industry is stabilizing, with the liquor sector showing signs of fundamental stability and dairy products expected to recover quickly [1][5]. - **Commodity Market Trends**: The commodity market has shown a trend of high followed by low prices, with the government implementing various promotional policies to stimulate service consumption and domestic demand. The Ministry of Commerce has issued opinions to expand service consumption, aiming to enhance residents' quality of life and stimulate domestic demand potential [1][6][7]. - **Emerging Consumer Demands**: New consumer demands are impacting the large consumption sector through three main directions: the development of new products that meet diverse and personalized needs, the optimization of new channel structures, and the promotion of new business models that foster diverse consumption scenarios [2][4]. Important but Overlooked Content - **Social Services Sector Changes**: The social services sector is evolving to meet changing consumer demands, with slight increases in beauty care and retail sectors. Key areas of investment include outdoor sports, gold and jewelry, and cultural and trendy IPs, with recommendations for companies like Anta Sports and Lao Pu Gold [8][22]. - **Tourism Market Trends**: The tourism market is gradually recovering, with leading companies like Ctrip and Huazhu Group adapting through technological innovation and marketing to meet the new demands of both young and elderly consumers. China Duty Free's Hainan business has benefited significantly from new duty-free policies [9][10]. - **Food and Beverage Sector Stability**: The food and beverage sector is stabilizing, with the liquor market facing challenges but showing resilience in mass consumption. The snack sector is experiencing performance differentiation, while dairy product demand is steady and supply is gradually clearing [12][17]. - **Investment Opportunities in Agriculture**: The agriculture, forestry, animal husbandry, and fishery sectors present investment opportunities, particularly in pig farming and the pet industry, which is growing due to demographic changes and emotional needs [3][13][19]. - **Household Appliance Sector**: The household appliance industry is seeking structural highlights amid steady growth, with a focus on high-dividend white goods and improving profit margins in black goods. The market for robotic vacuum cleaners is also expected to grow due to technological advancements [20][21]. This summary encapsulates the key points discussed in the conference call, providing insights into the large consumption sector and its various components, along with potential investment opportunities and market trends.

Group 1 - A number of A-share listed chemical companies, including Guoen Co., Linglong Tire, Proya, and Baili Tianheng, have accelerated their plans for listing in Hong Kong, aiming to create an "A+H" dual capital platform to broaden their development paths and inject new momentum into their growth [1] - The surge in Hong Kong listings is driven by both policy support and market demand, with international expansion and enhanced global competitiveness becoming key motivations for chemical companies [1][2] - Guoen Co. announced that the Hong Kong Stock Exchange's listing committee held a hearing on its application for H-share issuance on December 11, marking a critical stage in its listing process [1] Group 2 - The listing trend is supported by ongoing reforms in Hong Kong's capital market and policies from mainland China, which have made the Hong Kong Stock Exchange more attractive for innovative companies since the introduction of new listing rules in 2018 [2] - Recent measures from the Ministry of Finance and the China Securities Regulatory Commission have expanded the list of qualified institutions for H-share auditing, enhancing the quality of auditing services available to mainland companies seeking to list in Hong Kong [2] - The move to list in Hong Kong represents a proactive choice for companies to broaden financing channels and advance international development, reflecting the dual opening of China's capital market [3]