Market Overview - The Shanghai Composite Index fell by 0.12% on September 12, with 9 out of the 28 sectors rising, led by non-ferrous metals and real estate, which increased by 1.96% and 1.51% respectively [1] - The communication and comprehensive sectors experienced the largest declines, down by 2.13% and 1.95% respectively [1] - Overall, there was a net outflow of 53.64 billion yuan in the main funds across the two markets, with 6 sectors seeing net inflows [1] Sector Performance - The non-ferrous metals sector had the highest net inflow of main funds, totaling 2.168 billion yuan, coinciding with its 1.96% increase [1] - The construction and decoration sector also saw a positive performance with a 0.96% rise and a net inflow of 721 million yuan [1] - In contrast, the non-bank financial sector had the largest net outflow, amounting to 8.138 billion yuan, followed by the electronics sector with a net outflow of 7.517 billion yuan [1] Beauty and Personal Care Industry - The beauty and personal care sector declined by 1.52% with a net outflow of 228 million yuan [2] - Out of 29 stocks in this sector, 5 rose while 24 fell [2] - The top three stocks with the highest net outflows included Aimeike, Shanghai Jahwa, and Proya, with outflows of 55.4558 million yuan, 51.6741 million yuan, and 38.7707 million yuan respectively [2][3] Fund Flow in Beauty and Personal Care - The top stock in terms of net inflow was Shuiyang Co., with an inflow of 12.3562 million yuan, followed by Zhongshun Jierou and Huaxi Biological, with inflows of 10.1629 million yuan and 7.6373 million yuan respectively [2][4] - The table of fund flow indicates that Aimeike had the largest outflow at -55.4558 million yuan, with a decline of 3.03% [3] - Other notable outflows included Shanghai Jahwa at -51.6741 million yuan and Proya at -38.7707 million yuan [3]

Global Market Overview - The Hang Seng Index closed at 26,086, down 0.43% for the day but up 30.04% year-to-date [1] - The Shanghai Composite Index rose by 1.65% to 3,875, with a year-to-date increase of 15.62% [1] - The US markets saw the Dow Jones increase by 1.36% to 46,108, with a year-to-date gain of 8.38% [1] Sector Performance - In the Hong Kong market, the healthcare, energy, and consumer discretionary sectors led the decline, while materials, utilities, and industrials saw gains [3] - The semiconductor and rare metals sectors performed notably well, with significant inflows from southbound funds amounting to HKD 189.89 billion [3] Economic Indicators - The European Central Bank (ECB) maintained interest rates and revised down its inflation forecast for 2027 to 1.9% [3] - The US Consumer Price Index (CPI) showed a month-on-month increase of 0.4% and a year-on-year increase of 2.9%, aligning with market expectations [3] Investment Recommendations - Geely Automobile is rated as a "Buy" with a target price of HKD 25.00, representing a potential upside of 33% [4] - Luckin Coffee is also rated as a "Buy" with a target price of USD 44.95, indicating a 19% upside [4] - Semiconductor companies like Horizon Robotics and Beike Micro are rated as "Buy" with target prices of HKD 12.30 and HKD 93.00, respectively, showing potential upsides of 19% and 76% [4]

Core Points - The company held its first extraordinary general meeting of shareholders for 2025 on September 11, 2025, in Hangzhou, with all procedures compliant with the Company Law and Articles of Association [2][3][4] - All proposed resolutions were approved, including the 2025 semi-annual profit distribution plan and amendments to the Articles of Association [4][5][6] - The election of Wang Shunguo as the employee representative director for the fourth board of directors was unanimously agreed upon by the employee representatives [8][9] Meeting Details - The meeting was convened by the board of directors and utilized a combination of on-site and online voting methods [2] - All current directors and supervisors attended the meeting, ensuring full representation [3] - The legal firm Guohao Law Firm (Hangzhou) provided witness services, confirming the legality and validity of the meeting and its resolutions [6] Resolutions Passed - The following resolutions were passed: - 2025 semi-annual profit distribution plan [4] - Change of registered capital and cancellation of the supervisory board [4] - Amendments to various internal management rules, including decision-making processes for external guarantees and investments [5][6] - The special resolution regarding the change of registered capital required a two-thirds majority, while other resolutions were passed with a simple majority [6] Election of Directors - Wang Shunguo was elected as the employee representative director, joining the existing board members [8][9] - The election complied with all relevant laws and regulations, ensuring that the board's composition remains within the stipulated limits [9][12]

珀莱雅化妆品股份有限公司 | 证券代码：603605 | 证券简称：珀莱雅 | 公告编号：2025-055 | | --- | --- | --- | | 债券代码：113634 | 债券简称：珀莱转债 | | | 1、出席会议的股东和代理人人数 | 817 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 225,956,875 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 57.3794 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 (一) 股东大会召开的时间：2025 年 9 月 11 日 (二) 股东大会召开的地点：杭州市西湖区西溪路 588 号珀莱雅大厦 9 楼会议 室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 本次会议由公司董事会召集，采用现场投票与网络投票相结合的方式召开。 会议的召集和召开程序、出席会议人员的资格、会议的表决方式与程序均符合《公 司法》及《公司章程》的有关规定。 (五) 公司董事、监事和董事会秘书的出席情况 2025年第一次临时 ...

国浩律师（杭州）事务所 关于 珀莱雅化妆品股份有限公司 2025 年第一次临时股东大会之 法律意见书 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二五年九月 国浩律师（杭州）事务所 法律意见书 国浩律师（杭州）事务所 关 于 珀莱雅化妆品股份有限公司 2025 年第一次临时股东大会之 法律意见书 致：珀莱雅化妆品股份有限公司 国浩律师（杭州）事务所（以下简称"本所"）接受珀莱雅化妆品股份有限 公司（以下简称"公司"）的委托，指派律师出席公司 2025 年第一次临时股东大 会（以下简称"本次股东大会 ...

| 证券代码：603605 | 证券简称：珀莱雅 | 公告编号：2025-056 | | --- | --- | --- | | 债券代码：113634 | 债券简称：珀莱转债 | | 珀莱雅化妆品股份有限公司 关于选举第四届董事会职工代表董事的公告 珀莱雅化妆品股份有限公司 董 事 会 2025 年 9 月 12 日 附件：职工代表董事简历 王顺国：男，1986年11月出生，中国国籍，无境外永久居留权，大专学历。 2009年6月至2015年10月在公司从事行政事务，2015年10月至2019年3月担任公司 工程总经理助理，2019年3月至今担任公司采购一部包装开发工程师，2024年9月 至今担任公司监事，兼任珀莱雅（海南）化妆品有限公司监事、杭州珀莱雅商业 经营管理有限公司监事、杭州欧蜜思贸易有限公司监事、宁波珀莱雅企业咨询管 理有限公司监事、湖州优资莱贸易有限公司监事、杭州维洛可化妆品有限公司监 事、徐州珀雅科技有限公司监事、杭州一桌文化传媒有限公司监事、宁波惊蛰化 妆品有限公司监事、杭州格珞芮斯贸易有限公司监事、珀莱雅（浙江）化妆品有 限公司监事、湖州牛客科技有限公司监事、宁波彩棠化妆品有限公司监事、宁 ...

Overview - The lipstick market in China is experiencing growth due to rising income levels and increased beauty awareness among consumers, with nearly 60% of urban women indicating they wear makeup almost daily [1][14] - In 2023, China's lipstick sales reached 16.672 billion yuan, a year-on-year increase of 10.84%, but are projected to decline to 16.1286 billion yuan in 2024 due to macroeconomic factors [1][14] - The market is segmented into high-end lipsticks (53.68%) and mass-market lipsticks (46.32%) in 2024 [1][14] Market Policies - The Chinese government has implemented various policies to regulate the cosmetics industry, including quality management standards and safety assessment measures, promoting a more standardized and high-quality development environment for the lipstick industry [9][10] Industry Chain - The lipstick industry supply chain includes raw material suppliers (oils, waxes, pigments), manufacturing processes, and distribution channels such as retail stores and e-commerce platforms [11][12] Competitive Landscape - The lipstick market is highly competitive, featuring both international brands (Dior, Estée Lauder, Chanel) and domestic brands (Perfect Diary, Huaxizi, Proya), with international brands holding significant market share in the high-end segment [15][16] Development Trends - The high-end lipstick market is expected to grow faster than the overall industry, with international brands leveraging limited edition collaborations and local brands focusing on cultural IP for differentiation [17][18] - There is a rising consumer preference for products with safe ingredients, leading to an increase in demand for plant-based and cruelty-free lipsticks [17][18]

Core Viewpoint - The company has successfully completed the third unlock period of its 2022 restricted stock incentive plan, allowing 570,752 shares to be released for trading on September 17, 2025, for 57 eligible participants [2][9][11]. Summary by Sections 1. Stock Listing and Unlocking Details - The stock type being listed is for equity incentive shares, with a total of 570,752 shares set to be released for trading [2]. - The unlock date for these shares is September 17, 2025 [11]. 2. Approval and Implementation of the Incentive Plan - The company held board meetings on September 8, 2025, to approve the unlocking conditions for the third period of the 2022 restricted stock incentive plan [2][9]. - The plan was initially approved on July 8, 2022, with independent directors expressing their agreement [3][4]. 3. Historical Context of the Incentive Plan - The restricted stock was granted on September 6, 2022, and the third unlock period lasted from September 6, 2025, to September 5, 2026 [10]. - The total number of shares granted under the plan was 2.1 million, with various adjustments and cancellations made over time [5][6]. 4. Conditions for Unlocking Shares - The third unlock period allows for 40% of the granted shares to be released, which corresponds to the completion of specific performance conditions [10]. - The eligible participants for this unlock include 57 individuals, with the released shares representing approximately 0.14% of the company's total equity [11]. 5. Shareholder Restrictions - Directors and senior management are subject to restrictions on share transfers, including a limit of 25% of their total holdings per year during their tenure and a six-month restriction post-departure [12]. - Any profits from trading within six months of buying or selling shares must be returned to the company [12]. 6. Legal Compliance - The legal opinion confirms that the unlocking of shares complies with relevant laws and regulations, and the company is required to fulfill its disclosure obligations [13].

证券日报网讯9月10日晚间，珀莱雅（603605）发布关于2022年限制性股票激励计划第三个解除限售期 解除限售暨上市的公告称，公司本次股票上市类型为股权激励股份；股票认购方式为网下，本次股票上 市流通总数为570，752股。本次股票上市流通日期为2025年9月17日。 ...

重要内容提示： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 570,752股。 | | | 珀莱雅化妆品股份有限公司 关于 2022 年限制性股票激励计划第三个解除限售期解 除限售暨上市的公告 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、准确性和完整性依法承担法律责任。 本次股票上市流通总数为570,752股。 本次股票上市流通日期为2025 年 9 月 17 日。 珀莱雅化妆品股份有限公司（以下简称"公司"）于 2025 年 9 月 8 日召开了 第四届董事会第七次会议和第四届监事会第六次会议，审议通过《关于 2022 年限 制性股票激励计划第三个解除限售期解除限售条件成就的议案》，认为公司 2022 年限制性股票激励计划第三个解除限售期的解除限售条件已经成就，同意公司为 57 名符合解除限售条件的激励对象统一办理解除限售事宜，共计解除限售 570,752 股限制性股票。现将有关事项说明如下： 一、公司 2022 年限制性股票激励计划批准及实施情况 （一）已履行的决策程序和信息披露情况 1、2022 年 7 月 8 日，公司召开第 ...