Group 1: Market Trends - The beauty retail industry is experiencing a dichotomy between price increases and decreases, with brands adopting different pricing strategies to cope with cost pressures from tariffs and market changes [3] - Some brands, like Elf Beauty, are opting for transparent price increases while others, such as BeautyStat, are lowering prices to boost sales, particularly in high-end channels where consumers are more price-sensitive [3] - The market for anti-aging skincare is projected to reach 85 billion yuan by 2025, growing at 11%, with a shift towards systematic scientific management and consumer preference for long-term efficacy [4] Group 2: Consumer Behavior - Color cosmetics are becoming a key driver for attracting younger consumers in shopping malls, with a focus on emotional expression and social attributes, particularly among women aged 18-35 [5] - The trend of "experiential marketing" is evident, as consumers engage in try-on experiences that create a loop of offline experience leading to online sharing [5] - The demand for high-efficacy products is rising, with live-streaming platforms like Douyin playing a significant role in driving sales, particularly for domestic brands [9] Group 3: Brand Performance - Domestic brands are showing strong performance during promotional events, with Pechoin entering the top 4 on Douyin and domestic brands dominating the top 10 in the beauty category [6][8] - The beauty industry is facing challenges, with many brands experiencing revenue declines, while Marubi Biotech reported a 25.51% increase in revenue, attributed to its focus on R&D and a strong product strategy [14] - Natural Hall, a veteran domestic brand, is struggling with growth, facing challenges such as over-reliance on its main brand and high marketing costs, which are squeezing profits [15] Group 4: Innovation and Technology - La Roche-Posay has introduced a new supermolecular technology in its skincare products, emphasizing scientific innovation and skin health [10][11] - The emergence of new skincare brands focusing on light medical beauty and anti-aging solutions reflects a broader trend towards personalized and scientifically-backed skincare [12] - The industry is witnessing a shift towards age-appropriate skincare, with brands advocating for simpler, more effective routines for children, amidst concerns over the commercialization of children's skincare products [13]

证券代码：603983 证券简称：丸美生物 公告编号：2025-044 广东丸美生物技术股份有限公司 关于董事离任暨选举职工代表董事的公告 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。 郭朝万先生的离任未导致公司董事会成员低于法定人数，不影响董事会的正 常运作，离任自辞职报告送达董事会时生效，其不存在未履行完毕的公开承诺， 其离任亦不会对公司正常经营发展产生影响。 二、选举职工代表董事情况 根据《公司法》《公司章程》等有关规定，公司董事会中应设一名职工代表 董事，由职工代表大会选举产生。2025 年 11 月 28 日，公司召开职工代表大会， 选举郭朝万先生（简历附后）为公司第五届董事会职工董事，任期自本次职工代 表大会审议通过之日起至公司第五届董事会任期届满之日止。 一、董事离任情况 （一）提前离任的基本情况 | | | | | | | | 是否继续 | | 是否存 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 离任职务 ...

证券代码：603983 证券简称：丸美生物 公告编号：2025-045 关于广东证监局对公司采取行政监管措施决定的 整改报告的公告 公司收到《决定书》后高度重视，立即向公司全体董事、监事、高级管理 人员及相关部门负责人进行了通报和传达，对《决定书》中涉及的事项进行了全 面梳理和深入分析，同时遵照相关法律、法规及规范性文件和《公司章程》等有 关规定，结合公司实际情况，公司相关部门就《决定书》中所涉及的问题逐项梳 理和全面自查并认真落实整改措施。 2025 年 11 月 28 日，公司召开第五届董事会第十一次会议，审议通过《关 于广东证监局对公司采取行政监管措施决定的整改报告的议案》。现将整改情况 公告如下： 一、《决定书》主要内容及整改措施 （一）财务核算不规范 公司收入、在建工程核算不准确，相关会计科目存在错误列报。 整改措施： 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。 广东丸美生物技术股份有限公司（以下简称"公司"）于近日收到中国证 券监督管理委员会广东监管局（以下简称"广东证监局"）出具的《中国证券监 督管理委 ...

证券代码：603983 证券简称：丸美生物 公告编号：2025-043 广东丸美生物技术股份有限公司 2025年第二次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 11 月 28 日 (二)股东大会召开的地点：广州市海珠区新港东路 69 号丸美大厦 11 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： | 1、出席会议的股东和代理人人数 | 171 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 332,565,555 | | 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（%） | 82.9340 | (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。 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 ...

广东信达律师事务所 股东大会法律意见书 中国 深圳 福田区 益田路 6001 号 太平金融大厦 11、12 楼 邮政编码：518038 11F/12F., TAIPING FINANCE TOWER, NO.6001 YITIAN ROAD, SHENZHEN, CHINA 电话（Tel.）：（0755）88265288 传真（Fax.）：（0755）88265537 网站（Website）：https://www.sundiallawfirm.com 致：广东丸美生物技术股份有限公司 广东信达律师事务所 关于广东丸美生物技术股份有限公司 2025 年第二次临时股东大会的 法律意见书 广东信达律师事务所（以下简称"信达"）接受广东丸美生物技术股份有限 公司（下称"贵公司"）的委托，指派律师参加了贵公司 2025 年第二次临时股 东大会（下称"本次股东大会"），并进行了必要的验证工作。现根据《中华人 民共和国公司法》（下称"《公司法》"）、《上市公司股东会规则》（下称"《股 东会规则》"）以及贵公司《公司章程》的规定，按照律师行业公认的业务标准、 道德规范和勤勉尽责精神，对本次股东大会的召集和召开程序、召集人和 ...

Core Viewpoint - The company, Marubi Group, has received an administrative regulatory decision from the Guangdong Securities Regulatory Commission, requiring rectification regarding issues of financial accounting irregularities and management of raised funds [1] Group 1: Financial Rectification - The company has conducted a comprehensive review and self-examination, leading to the approval of a rectification report on November 28 [1] - To address financial accounting irregularities, the company has corrected accounting errors, improved multiple systems, and enhanced training and audit supervision [1] Group 2: Fund Management - In response to issues related to the management of raised funds, the company has organized training to reinforce understanding of regulations and key process points [1] - The rectification has been completed, and the company has taken serious action against responsible individuals, committing to continuous compliance and improvement of governance standards [1]

Group 1 - The cosmetics sector increased by 0.29% on November 28, with Jiaheng Jiahua leading the gains [1] - The Shanghai Composite Index closed at 3888.6, up 0.34%, while the Shenzhen Component Index closed at 12984.08, up 0.85% [1] - Jiaheng Jiahua's stock price rose by 6.45% to 40.28, with a trading volume of 67,100 shares and a transaction value of 266 million yuan [1] Group 2 - The cosmetics sector experienced a net outflow of 61.04 million yuan from institutional investors, while retail investors saw a net inflow of 76.64 million yuan [2] - Among individual stocks, Marubi Biological had a net outflow of 9.46 million yuan from institutional investors, while Shanghai Jahwa saw a net inflow of 5.63 million yuan [3] - The overall trading activity in the cosmetics sector indicates a mixed sentiment, with some stocks experiencing significant outflows while others attracted retail interest [2][3]

Core Viewpoint - The company plans to launch an H-share listing to enhance its capital strength and overseas financing capabilities, aiming to improve overall competitiveness and accelerate international business strategy [1] Financial Performance - For the first three quarters of 2025, the company reported revenue of 2.45 billion (+25.5%) and a net profit attributable to shareholders of 244 million (+2.13%), with a non-recurring net profit of 214 million (-5.4%) [1] - In Q3 2025, revenue reached 690 million (+14.3%), net profit attributable to shareholders was 69 million (+11.6%), and non-recurring net profit was 48 million (-20%) [1] - The company corrected its H1 financial data, adjusting revenue down by 4.55 million, increasing management expenses by 10.27 million, and reducing net profit attributable to shareholders by 11.33 million [1] Profitability Metrics - Q3 2025 gross margin was 75.72% (+1.2 percentage points), with a sales expense ratio of 60.52% (+1.6 percentage points), management expense ratio of 5.89% (+1.8 percentage points), and R&D expense ratio of 3.32% (+0.2 percentage points) [1] - The net profit margin attributable to shareholders in Q3 2025 was 10.13% (-0.2 percentage points), and the non-recurring net profit margin was 7% (-3 percentage points) [1] Investment Outlook - The company is currently in a growth phase with increased expenses impacting short-term profitability, and it is essential to track the effectiveness of expanding its customer base [2] - Future focus should be on new customer conversion and the pace of profit recovery [2] - Projected net profits attributable to shareholders for 2025 and 2026 are 370 million and 460 million, respectively, corresponding to PE ratios of 36x and 29x [3]

Core Viewpoint - The cosmetics sector experienced a 1.6% increase on November 27, with Keshare leading the gains, while the overall market showed mixed results with the Shanghai Composite Index rising by 0.29% and the Shenzhen Component Index declining by 0.25% [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3875.26, up 0.29% [1] - The Shenzhen Component Index closed at 12875.19, down 0.25% [1] - The cosmetics sector's individual stock performance is detailed in a table, highlighting significant gainers such as Keshare with a 9.12% increase [1] Group 2: Individual Stock Performance - Keshare (300856) closed at 16.15 with a 9.12% increase and a trading volume of 310,700 shares, amounting to a transaction value of 489 million yuan [1] - Marubi Biological (603983) closed at 35.19, up 4.89%, with a trading volume of 87,200 shares and a transaction value of 304 million yuan [1] - Other notable performers include Water Sheep (300740) with a 2.72% increase and a transaction value of 580 million yuan [1] Group 3: Capital Flow Analysis - The cosmetics sector saw a net outflow of 25.34 million yuan from institutional investors and 82.57 million yuan from retail investors, while individual investors contributed a net inflow of 108 million yuan [2] - A detailed table shows the capital flow for individual stocks, indicating that LaFang (603630) had a net inflow of 5.96 million yuan from institutional investors [3] - Other stocks like Shanghai Jahwa (600315) and Huaye Fragrance (300886) also experienced varying degrees of net inflow and outflow from different investor categories [3]

Core Viewpoint - Marubi Biotechnology's stock has shown fluctuations in recent trading sessions, with a year-to-date increase of 8.63% and a recent decline over the past 60 days of 15.88% [1][2]. Company Overview - Marubi Biotechnology Co., Ltd. was established on April 2, 2002, and went public on July 25, 2019. The company is located in Guangzhou and specializes in the research, design, production, sales, and service of various skincare products [1]. - The revenue composition of Marubi includes skincare products (39.05%), beauty and other products (29.37%), eye care products (23.81%), cleansing products (7.67%), and other businesses (0.10%) [1]. Financial Performance - For the period from January to September 2025, Marubi achieved a revenue of 2.45 billion yuan, representing a year-on-year growth of 25.51%. The net profit attributable to the parent company was 244 million yuan, with a growth of 2.13% [2]. - Since its A-share listing, Marubi has distributed a total of 1.08 billion yuan in dividends, with 710 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Marubi was 18,900, an increase of 8.86% from the previous period. The average number of circulating shares per person was 21,205, a decrease of 8.14% [2]. - Among the top ten circulating shareholders, several funds from the Fortune series hold significant stakes, with the largest being Fortune Consumption Theme Mixed A, holding 3.69 million shares [3].