Fundraising Overview - The company has successfully completed an initial public offering (IPO) of 30,000,000 shares at a price of RMB 23.90 per share, raising a total of RMB 717 million, with a net amount of RMB 648.33 million after deducting issuance costs [1][2] Fund Management and Usage - The company has established a management system for the use and management of the raised funds, ensuring compliance with regulations and protecting investor rights [2] - A tripartite supervision agreement has been signed with the underwriter and the banks to ensure that the funds are used specifically for their intended purposes [2] Account Closure - The company has closed a special account for the raised funds at China Merchants Bank, as the funds in that account have been fully utilized according to regulations [3]

Core Viewpoint - Jia Bi You announced that as of August 31, 2025, the company has not repurchased any shares through the dedicated repurchase account [1] Group 1 - The announcement was made on the evening of September 3 [1] - The company has a dedicated repurchase account for share buybacks [1]

数据显示，9月1日至3日，嘉必优的股价持续下跌。有投资者提问，"公司股价走势本来就很弱，现在终 止收购，股价又大跌，造成很多投资者损失，公司会采取什么措施提升投资者信心？" 对此，嘉必优表示："公司终止本次筹划重大资产重组事项是经过审慎考虑的决定，是对公司和投资者 负责的决策。未来，公司将保持战略定力，稳步推进各项工作，通过技术创新不断开发高附加值应用新 场景，做大做强公司业绩，同时也将积极吸取广大投资者的建议与意见，加强资本市场沟通，切实守护 全体投资者利益。" 另外，嘉必优还提到，"公司与欧易已经开展的合作将持续深入推进，未来将根据公司战略和业务发展 的需求，探讨更多合作机会。" 9月3日，嘉必优披露投资者活动记录表。在与投资者交流过程中，嘉必优介绍，公司综合考虑市场环境 及标的公司的业务运行情况较本次交易筹划初期已发生一定变化，为切实维护公司和广大投资者的利 益，经审慎研究，决定终止收购欧易生物的股权。 记者注意到，嘉必优从去年便开始筹划收购欧易生物部分股权一事，其间两度调整交易方案，还曾被上 海证券交易所问询。最新方案显示，嘉必优拟收购欧易生物63.2134%的股权，交易价格约8.31亿元。本 次交易 ...

Group 1 - The core point of the article is that the company Jia Biyou has decided to terminate the acquisition of a stake in Ouyi Biological due to changes in market conditions and the operational status of the target company, which was a shift from the initial planning stage [1] - Jia Biyou had been planning the acquisition since last year, with two adjustments to the transaction plan and inquiries from the Shanghai Stock Exchange [1] - The latest plan indicated that Jia Biyou intended to acquire 63.2134% of Ouyi Biological for approximately 831 million yuan, with a premium rate of 441.23% [1] Group 2 - Following the announcement of the termination, Jia Biyou's stock price experienced a continuous decline from September 1 to September 3, raising concerns among investors about potential losses [2] - In response to investor concerns, Jia Biyou stated that the decision to terminate the acquisition was made after careful consideration and was aimed at protecting the interests of the company and its investors [2] - The company emphasized its commitment to maintaining strategic focus, advancing technological innovation, and exploring further cooperation opportunities with Ouyi Biological in the future [2]

Core Points - Jia Bi You (688089.SH) announced that as of August 31, 2025, the company has not repurchased its shares through a dedicated repurchase account [1]

证券代码：688089 证券简称：嘉必优 公告编号：2025-067 嘉必优生物技术（武汉）股份有限公司 关于第二期以集中竞价交易方式回购公司股份的进展公告 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。 | 回购方案首次披露日 | 年 月 日 2025 1 | | 25 | | | --- | --- | --- | --- | --- | | 回购方案实施期限 | 董事会审议通过后 个月内 12 | | | | | 预计回购金额 | 1,500 万元（含）-3,000 | | | 万元（含） | | 回购用途 | □减少注册资本 用于员工持股计划或股权激励 | | | | | | □用于转换公司可转债 | | | | | | □为维护公司价值及股东权益 | | | | | 累计已回购股数 | 万股 | 0 | | | | 累计已回购股数占总股本比例 | | 0% | | | | 累计已回购金额 | 万元 | 0 | | | | 实际回购价格区间 | 元/股~0 元/股 | 0 | | | 重要内容提示： 回购价格上限 ...

Group 1 - The company, Jia Bi You, announced that it has completed the use of raised funds in accordance with the tripartite supervision agreement [2] - The special account for raised funds at China Merchants Bank, Wuhan Optics Valley Branch, has been fully utilized and will no longer be in use [2] - The company has recently canceled part of the special account for raised funds, leading to the termination of the tripartite supervision agreement with the sponsor and the commercial bank [2]

Fundraising Overview - The company, Jia Bi You Biotechnology (Wuhan) Co., Ltd., successfully raised a total of RMB 717 million through the issuance of 30 million A-shares at a price of RMB 23.90 per share [1] - After deducting issuance costs of RMB 68.67 million, the net amount raised was RMB 648.33 million, which was verified by an accounting firm [1] Fund Management and Usage - The company established a management system for the use and management of raised funds to ensure compliance and protect investor rights [2] - A tripartite supervision agreement was signed with Guotai Junan Securities and several banks to ensure the funds are used appropriately [2][3] Account Closure - The company has closed a specific fundraising account at China Merchants Bank, as the funds in that account have been fully utilized according to regulations [3] - Following the account closure, the tripartite supervision agreement related to that account has also been terminated [3]

经中国证券监督管理委员会《关于同意嘉必优生物技术（武汉）股份有限公 司首次公开发行股票注册的批复》（证监许可〔2019〕2338 号）同意注册，嘉必 优生物技术（武汉）股份有限公司（以下简称"公司"）公开发行人民币普通股（A 股）30,000,000.00 股，每股面值为人民币 1.00 元，发行价格为每股人民币 23.90 元。截至 2019 年 12 月 16 日止，公司实际已发行普通股（A 股）30,000,000.00 股，募集资金总额为人民币 717,000,000.00 元，扣除各项发行费用（不含税）人 民币 68,673,892.62 元，实际募集资金净额为人民币 648,326,107.38 元。上述资金 已于 2019 年 12 月 16 日存入公司募集资金账户中。上述募集资金到位情况业经 立信会计师事务所（特殊普通合伙）验证，并出具了信会师报字[2019]第 ZE10784 号《验资报告》。 二、募集资金专项账户开立情况 证券代码：688089 证券简称：嘉必优 公告编号：2025-066 关于注销部分募集资金专项账户的公告 为了规范募集资金的管理和使用，保护投资者权益，本公司依照《上海证 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index within the next six months [5][22]. Core Viewpoints - The company's revenue and net profit have shown continuous growth, driven by increased demand for ARA and DHA products. The revenue for the first half of 2025 reached 444 million yuan, a year-on-year increase of 17.60%, while net profit rose by 59.01% to 108 million yuan [1][2]. - The company is well-positioned to benefit from favorable market conditions, including the replacement of old national standards for infant formula and a rebound in the maternal and infant consumption market, which is expected to sustain the demand for its core products [4][12]. - The company is actively expanding its business across multiple sectors, including health, animal nutrition, and beauty, which is anticipated to drive overall growth and enhance its market position [9][10]. Financial Summary - The company's projected financial performance shows significant growth, with expected revenues of 703 million yuan in 2025, 834 million yuan in 2026, and 964 million yuan in 2027, reflecting growth rates of 26.5%, 18.7%, and 15.5% respectively [1][12]. - The net profit is projected to reach 190 million yuan in 2025, 220 million yuan in 2026, and 289 million yuan in 2027, with growth rates of 52.6%, 16.0%, and 31.6% respectively [1][12]. - The company's return on equity (ROE) is expected to improve from 10.7% in 2025 to 13.1% in 2027, indicating enhanced profitability [1][12]. Market Dynamics - The demand for ARA and DHA products is expected to continue growing due to the increasing market concentration among leading infant formula brands and the accelerated replacement of fish oil DHA with algal oil DHA [4][12]. - The company is leveraging its partnerships with major clients and enhancing product offerings to capture market opportunities, particularly in the context of the "Healthy China" strategy and consumption upgrades [4][9].