证券代码：603983 证券简称：丸美股份 公告编号：2024-040 广东丸美生物技术股份有限公司 关于第五届监事会第三次会议决议的公告 本公司监事会及全体监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个别及连带责任。 一、监事会会议召开情况 广东丸美生物技术股份有限公司（以下简称"公司"）第五届监事会第三次 会议于 2024 年 9 月 12 日(星期四)以现场结合通讯方式召开。会议通知已于 2024 年 9 月 9 日以口头、通讯通知。本次会议应出席监事 3 人，实际出席监事 3 人。会议由监事会主席陈青梅主持。会议召开符合有关法律、法规、规章和《公 司章程》的规定。 广东丸美生物技术股份有限公司监事会 2024年9月14日 1、审议通过了《关于对产业投资基金增资及变更相关事项暨关联交易的议 案》。 具体内容详见公司同日披露的《关于对产业投资基金增资及变更相关事项暨 关联交易的公告》（公告编号：2024-041）。 公司本次与关联方共同向青岛茂达增资及相关事项变更暨关联交易事项是 为了满足青岛茂达基金业务发展需要，交易价格客观、公允、合理，不影响公 ...

证券简称：丸美股份 证券代码：603983 广东丸美生物技术股份有限公司 投资者关系活动记录表 编号：2024-002 | --- | --- | --- | --- | |----------------|-----------------------------|----------------------------|----------------------------------------| | 投资者关系活动 | □ | 特定对象调研 □ 分析师会议 | | | 类别 | □ 媒体采访 □ 业绩说明会 | | | | | □ 新闻发布会 □ 路演活动 | | | | | □ 现场参观 | | | | | √ 其他 （ 2024 动） | | 广东辖区上市公司投资者网上集体接待日活 | | 参与单位名称及 | 投资者网上提问 | | | | 人员姓名 | | | | | 时间 | 2024 年 9 月 12 | 日 (周四) 下午 | 15:30~16:30 | | 地点 | 公 司 通 过 全 景 网 " | 投 资 者 关 系 互 动 平 台 | " （ http:// | | | ir.p ...

[Table_MainInfo] 公司研究/商业贸易/专营零售 证券研究报告 丸美股份（603983）公司研究报告 2024 年 09 月 12 日 [Table_InvestInfo] 投资评级 优于大市 首次 覆盖 | --- | --- | |---------------------------------------------------|-------------| | 股票数据 | | | 09 [ Table_StockInfo 月 12 日收盘价（元） ] | 21.52 | | 52 周股价波动（元） | 20.17-33.81 | | 总股本 / 流通 A 股（百万股） | 401/401 | | 总市值 / 流通市值（百万元） 相关研究 | 8630/8630 | 市场表现 [Table_QuoteInfo] | --- | --- | --- | --- | |-------------------------------------|-----------|------------|----------| | | | | | | 沪深 300 对比 绝对涨幅（ % ） | 1M ...

证券代码：603983 证券简称：丸美股份 公告编号：2024-039 广东丸美生物技术股份有限公司 关于使用闲置募集资金购买理财产品到期赎回 并继续购买的公告 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、准确性和完整性承担个别及连带责任。 重要内容提示： 履行的审议程序：广东丸美生物技术股份有限公司（以下简称"公司"） 第五届董事会第二次会议通过了《关于使用部分闲置募集资金进行现金管理的议 案》，同意使用不超过人民币 20,000 万元的闲置募集资金进行现金管理，该额度 可滚动使用。具体内容详见公司于 2024 年 8 月 24 日在上海证券交易所网站披露 的《关于使用部分闲置募集资金进行现金管理的公告》（公告编号：2024-036） 一、本次使用闲置募集资金购买理财产品到期赎回的情况 2024 年 3 月 7 日，公司之子公司广州禾美实业有限公司（以下简称"广州 禾美"）认购了由中信证券股份有限公司（以下简称"中信证券"）发行的"中 信证券股份有限公司节节升利系列 3036 期收益凭证（本金保障型收益凭证）" （以下简称"中信证券节节升利收益凭证" ...

证券代码：603983 证券简称：丸美股份 公告编号：2024-038 广东丸美生物技术股份有限公司 关于参加2024广东辖区上市公司投资者 网上集体接待日活动的公告 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、准确性和完整性承担个别及连带责任。 为进一步加强与投资者的互动交流，广东丸美生物技术股份有限公司（以下 简称"公司"）将参加由广东证监局、广东上市公司协会联合举办的"坚定信心 携手共进 助力上市公司提升投资价值——2024广东辖区上市公司投资者关系管 理月活动投资者集体接待日"，现将相关事项公告如下： 本次投资者网上集体接待日活动将采用网络远程的方式举行，投资者可登录 "全景路演"网站（http://rs.p5w.net）参与本次互动交流，活动时间为 2024 年 9 月 12 日（周四） 15:30-16:30。 届时公司相关领导将在线就公司 2024 年半年度业绩、公司治理、发展战略、 经营状况和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广 大投资者踊跃参与！ 特此公告。 广东丸美生物技术股份有限公司董事会 2024年9月1 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking the first coverage of the stock [1][3][23]. Core Insights - The company has shown significant improvement in its brand transformation and multi-brand growth potential, particularly with its main brand Marubi and the emerging brand PL Lover [1][3][21]. - The company has successfully adjusted its strategy, leading to a recovery in performance, with revenue and net profit showing strong growth in recent years [2][3][21]. - The online channel transformation has significantly increased the company's online revenue share, reflecting a successful shift in sales strategy [2][3][18]. Summary by Sections Company Overview - Marubi Co., Ltd. was established in 2002 and focuses on eye care and anti-aging products, with brands including Marubi and PL Lover [1][9][10]. - The company has adapted to market changes by simplifying its product range and enhancing brand positioning, leading to notable sales growth [9][10]. Financial Performance - The company experienced a compound annual growth rate (CAGR) of 15% in revenue and 28% in net profit from 2017 to 2019, but faced challenges during 2020-2022 due to the pandemic and strategic adjustments [2][12]. - In 2023, the company achieved revenue of 2.226 billion yuan (up 29% year-on-year) and a net profit of 259 million yuan (up 49%) [2][12][21]. - The first half of 2024 saw revenue of 1.352 billion yuan (up 27.65%) and a net profit of 177 million yuan (up 35.09%) [2][12][21]. Brand Performance - The main brand Marubi has returned to growth after a period of decline, with a revenue of 940 million yuan in the first half of 2024 (up 25.87%) [2][12][21]. - PL Lover has rapidly grown since its transformation in 2021, achieving a CAGR of 312.13% from 2021 to 2023, with first-half 2024 revenue of 417 million yuan (up 35.83%) [2][12][21]. Channel Strategy - The company has significantly increased its online sales, with a CAGR of 125.35% for online revenue from 2020 to 2023, leading to an online revenue share of 84.3% in the first half of 2024 [2][18][21]. Profitability - The company's gross margin has improved, reaching 70.69% in 2023 and 74.68% in the first half of 2024 [3][21]. - The net profit margin has also shown recovery, with a net profit margin of 13.09% in the first half of 2024, up 6.08 percentage points year-on-year [3][21]. Future Projections - The report forecasts net profits of 350 million yuan, 450 million yuan, and 560 million yuan for 2024, 2025, and 2026, respectively, with corresponding price-to-earnings ratios of 24, 19, and 15 [3][21][25].

公司报告 | 半年报点评 24Q2 归母净利 yoy+26.7%，稳固转型成效，稳健发 展和健康增长 事件：公司发布 24 年半年报。24H1 营收 13.52 亿，yoy+27.65%；归母净 利 1.77 亿元，yoy+35.09%，扣非归母净利 1.66 亿，yoy+40.21%。24Q2 公 司实现营收 6.91 亿，yoy+18.58%，归母净利 0.66 亿，yoy+26.71%，扣非归 母净利 0.62 亿，yoy+39.24%。 财报重点： ■两大品牌表现持续亮眼，①主品牌丸美 24H1 营收 9.3 亿元，yoy+ 25.87%，其中天猫旗舰店同比增长 34.29%、抖快同比增长 30.05%。新品小 金针精华 2.0 上市 2 个月 GMV 破亿，上半年 GMV 同增 105.97%，霸榜精 华各大榜单；②PL 恋火 24H1 营收 4.17 亿元，yoy+35.83%，618 期间， PL 霸榜天猫粉底液热卖榜、热销榜 TOP1，抖音粉底液、气垫榜 TOP1。 ■渠道多元并进、协同发展。24H1 线上营收 11.39 亿元，同增 34.85%， 上半年丸美天猫旗舰店 TOP5 核心单品销 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [4][6]. Core Views - The company achieved a revenue of 1.35 billion yuan in H1 2024, representing a year-on-year growth of 27.7%. The net profit attributable to the parent company was 180 million yuan, up 35.1% year-on-year, while the net profit excluding non-recurring items reached 170 million yuan, growing by 40.2% [3][4]. - In Q2 2024, the company reported a revenue of 690 million yuan, an 18.6% increase year-on-year, with a net profit of 70 million yuan, up 26.7% year-on-year [3][4]. - The product structure continues to improve, with a significant increase in the sales of high-margin products, contributing to a gross margin increase of 4.6 percentage points to 74.7% in H1 2024 [3][4]. Summary by Sections Revenue Performance - The main brand, Marubi, and the sub-brand, Lianhuo, achieved revenues of 930 million yuan and 420 million yuan respectively, with year-on-year growth rates of 25.9% and 35.8%. The online sales channels, particularly Tmall and Douyin, saw significant growth, with Tmall flagship store sales increasing by 34.3% [3][4]. - In H1 2024, online and offline channels generated revenues of 1.14 billion yuan and 210 million yuan, reflecting year-on-year changes of 34.9% and -1.2% respectively [3][4]. Profitability Analysis - The gross margin improved due to an optimized product mix, with higher sales of the restructured collagen series. The average selling price of popular and new products also increased in Q2 2024 [3][4]. - The company maintained a stable gross profit margin, with the net profit margin for H1 2024 rising by 0.72 percentage points to 13% [3][4]. Future Outlook - The company is expected to continue improving its operational efficiency and profitability, with projected EPS for 2024, 2025, and 2026 at 0.92 yuan, 1.17 yuan, and 1.46 yuan respectively [4][10].

参会人员：董事长兼 CEO 孙怀庆、董事兼 CFO 王开慧、董事兼 CMO 曾令椿、 董事会秘书程迪 广东丸美生物技术股份有限公司 2024 年半年度业绩交流会会议纪要 一、会议召开情况 会议时间：2024 年 8 月 26 日 15:10 召开方式：线上会议 主要参会机构：详见"附件：参会机构清单" 二、会议纪要 （一）管理层介绍 2024 年上半年经营情况 2024 年上半年公司实现营业收入 13.52 亿元，同比增长 27.65%。分品牌看， 丸美品牌实现营收 9.3 亿元，同比增长 25.87%，主营占比 68.65%，其中丸美天 猫旗舰店同比增长 34.29%、丸美抖快同比增长 30.05%；第二品牌 PL 恋火实现 营收 4.17 亿元，同比增长 35.83%，主营占比 30.86%。 公司整体毛利率 74.68%，同比提升 4.55 个百分点。报告期内，公司进一步 优化货品结构，并持续推进大单品策略，产品集中度明显提升，同时，公司秉持效 能为先、精益管理原则，融合数字化技术，优化供应链各环节，实现降本增效，有 效提升了毛利率水平。 2024 年 上 半 年 归 属 于 上 市 公 司 股 东 的 ...

Investment Rating - The investment rating for the company is "Add" [3] Core Views - The company reported a revenue of 1.352 billion yuan for H1 2024, representing a year-on-year increase of 27.65%, and a net profit attributable to shareholders of 177 million yuan, up 35.09% year-on-year. The Q2 2024 revenue was 691 million yuan, with a year-on-year growth of 18.52%, and a net profit of 66 million yuan, reflecting a year-on-year increase of 26.71% [1][2] Summary by Sections Online and Offline Channels - Online channel revenue grew rapidly, reaching 1.139 billion yuan, a year-on-year increase of 34.85%, accounting for 84.34% of total revenue. In contrast, offline channel revenue was 212 million yuan, down 1.16% year-on-year, making up 15.66% of total revenue [2] Brand Performance - The main brand, Marubi, achieved revenue of 930 million yuan in H1 2024, a growth of 25.87%. The second brand, PL, saw revenue of 417 million yuan, up 35.83%. The company is focusing on a "big product" strategy to enhance brand influence [2] Profitability Metrics - The gross margin for H1 2024 was 74.68%, an increase of 4.56 percentage points year-on-year. The net margin was 13.09%, up 0.69 percentage points year-on-year. However, the sales expense ratio increased significantly, impacting net profit growth [2][3] Financial Forecast - The company forecasts revenues of 2.786 billion yuan for 2024, with a growth rate of 25.20%. The net profit is expected to be 356 million yuan, reflecting a growth rate of 37.10% [2][6] Research and Development - The company has initiated 36 self-research innovation projects and filed 21 new patent applications in H1 2024, with a total of 531 patent applications to date. Collaborations with various research institutions have led to the establishment of new industry standards [2][3]