Group 1 - The company held its fourth supervisory board meeting on August 29, 2025, with all three supervisors present, and the meeting complied with legal and regulatory requirements [1][2] - The supervisory board approved the proposal to terminate the issuance of shares and cash payment for asset acquisition, as well as the related fundraising and transaction matters, citing the decision as prudent for the benefit of the company and its investors [1][2] - The board also approved the signing of a termination agreement with the transaction counterparties, with unanimous support from all supervisors [2]

Core Viewpoint - The company, Jia Bi You Biotechnology (Wuhan) Co., Ltd., has announced the termination of a major asset restructuring and will hold an investor briefing to address investor concerns regarding this decision [1][2]. Group 1: Investor Briefing Details - The investor briefing is scheduled for September 2, 2025, from 16:00 to 17:00 [1][2]. - The briefing will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an online text interaction format [1][2]. - Investors can submit questions from August 30, 2025, until September 2, 2025, at 14:00 through the Roadshow Center website or via the company's email [3]. Group 2: Company Actions - The company’s board and supervisory board have approved the termination of the asset restructuring and the withdrawal of related application documents [1]. - The company will sign a termination agreement with the transaction counterparties as part of this process [1]. Group 3: Participants in the Briefing - Key participants in the investor briefing will include the company's Chairman and General Manager, the Board Secretary, representatives from the transaction counterparties, and independent financial advisors [2]. Group 4: Contact Information - For inquiries, investors can contact Wang Fang at phone number 027-67845289 or via email at zqb@cabio.cn [4].

嘉必优生物技术（武汉）股份有限公司拟以发行股份及支付现金的方式向王 树伟、董栋、肖云平、王修评、靳超、史贤俊、上海帆易生物科技合伙企业（有 限合伙）、宁波梅山保税港区睿欧投资管理合伙企业（有限合伙）、宁波梅山保 税港区欧润企业管理合伙企业（有限合伙）、上海国药二期股权投资基金合伙企 业（有限合伙）、南通东证瑞象创业投资中心（有限合伙）、苏州鼎石汇泽生物 产业投资基金合伙企业（有限合伙）、上海圣祁投资管理合伙企业（有限合伙） 共 13 名交易对方购买上海欧易生物医学科技有限公司 63.2134%的股权，同时拟 向不超过 35 名特定投资者发行股份募集配套资金（以下简称"本次交易"或"本 次重组"）。 证券代码：688089 证券简称：嘉必优 公告编号：2025-061 嘉必优生物技术（武汉）股份有限公司 关于终止发行股份及支付现金购买资产并募集配套资金 暨关联交易事项并撤回申请文件的提示性公告 本公司及董事会全体成员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。 嘉必优生物技术（武汉）股份有限公司（简称"嘉必优"、"公司"、"本 公司"）于 20 ...

证券代码：688089 证券简称：嘉必优 公告编号：2025-061 嘉必优生物技术（武汉）股份有限公司 关于终止发行股份及支付现金购买资产并募集配套资金 暨关联交易事项并撤回申请文件的提示性公告 本公司及董事会全体成员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。 嘉必优生物技术（武汉）股份有限公司（简称"嘉必优"、"公司"、"本 公司"）于 2025 年 8 月 29 日分别召开第四届董事会第八次会议、第四届监事会 第八次会议，审议通过了《关于终止发行股份及支付现金购买资产并募集配套资 金暨关联交易事项并撤回申请文件的议案》和《关于公司与交易对方签署相关终 止协议的议案》，同意公司终止发行股份及支付现金购买资产并募集配套资金暨 关联交易事项并撤回申请文件，以及与交易对方签署相关终止协议。现将有关事 项公告如下： 一、本次交易的基本情况 嘉必优生物技术（武汉）股份有限公司拟以发行股份及支付现金的方式向王 树伟、董栋、肖云平、王修评、靳超、史贤俊、上海帆易生物科技合伙企业（有 限合伙）、宁波梅山保税港区睿欧投资管理合伙企业（有限合伙）、宁波梅山 ...

证券代码：688089 证券简称：嘉必优 公告编号：2025-062 重要内容提示： 嘉必优生物技术（武汉）股份有限公司 一、终止重大资产重组投资者说明会的主要情况 嘉必优生物技术（武汉）股份有限公司（简称"嘉必优"、"公司"、"本 公司"）于 2025 年 8 月 29 日分别召开第四届董事会第八次会议、第四届监事会 第八次会议，审议通过了《关于终止发行股份及支付现金购买资产并募集配套资 金暨关联交易事项并撤回申请文件的议案》和《关于公司与交易对方签署相关终 止协议的议案》，同意公司终止发行股份及支付现金购买资产并募集配套资金暨 关联交易事项并撤回申请文件，以及与交易对方签署相关终止协议，具体内容详 见公司于 2025 年 8 月 30 日在《上海证券报》《中国证券报》《证券时报》《证 券日报》和上海证券交易所网站（http://www.sse.com.cn）披露的《嘉必优关于 终止发行股份及支付现金购买资产并募集配套资金暨关联交易事项并撤回申请 文件的提示性公告》（公告编号：2025-061）。 为便于广大投资者全面深入地了解公司终止本次重大资产重组交易事项，公 司计划于 2025 年 9 月 2 日（星 ...

Investment Rating - The report maintains a "Buy" rating for the company [7] Core Views - The company reported a total revenue of 307 million yuan in H1 2025, representing a year-on-year increase of 17.60%, and a net profit attributable to the parent company of 108 million yuan, up 59.01% [1] - The growth in revenue is primarily driven by the domestic market, with domestic product sales increasing by 28.66% year-on-year, while overseas product sales grew by 2.38% [2] - The company's gross margin improved to 49.68% in H1 2025, an increase of 7.59 percentage points year-on-year, attributed to enhanced production efficiency and cost optimization [3] - The demand for ARA and DHA, key products of the company, is expected to grow due to the implementation of new national standards for infant formula and the expiration of major patents held by competitors [4] Summary by Sections Financial Performance - In H1 2025, the company achieved a gross profit margin of 49.68%, with a net profit margin of 35.19%, reflecting strong operational efficiency [3] - The company’s sales expenses decreased by 24.32% year-on-year, while management expenses increased by 21.84% due to acquisition-related costs [3] Market Opportunities - The new national standards for infant formula, effective from February 22, 2023, are expected to drive demand for ARA and DHA [4] - The expiration of DSM's major patents in June 2023 presents an opportunity for the company to increase its market share in overseas ARA sales [4] - The Omega-3 market, particularly for DHA, is expanding into functional foods and clinical nutrition, indicating strong demand across various consumer segments [4] Profit Forecast - The company is projected to achieve net profits of 175.21 million yuan, 212.09 million yuan, and 251.48 million yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 41.06%, 21.05%, and 18.57% [5]

Group 1 - The core point of the news is that Jia Bi You (688089) has seen a significant increase in financing activities, with a net financing purchase of 464.36 million yuan on August 21, 2025, and a total net purchase of 2,701.48 million yuan over the last three trading days [1][2][3] - The financing balance on August 21, 2025, reached 1.73 billion yuan, reflecting a 2.76% increase from the previous day [2][3] - The financing net purchases over the past few days indicate a positive investor sentiment, as the financing balance has consistently increased, suggesting a strong market [4] Group 2 - The financing net purchases for the previous trading days were 270.16 million yuan on August 20 and 1,966.96 million yuan on August 19, indicating a growing trend in investor interest [2][3] - The financing balance as a percentage of the circulating market value was 3.67% on August 21, 2025, which is an increase from 3.52% on August 20 and 3.48% on August 19 [2] - The overall margin trading balance (financing and securities lending) on August 21, 2025, was 1.73 billion yuan, showing a positive change in market dynamics [3]

Group 1 - The core point of the news is that Jia Bi You (688089) has seen significant financing activity, with a net financing purchase of 270.16 million yuan on August 20, 2025, and a cumulative net purchase of 2,557.25 million yuan over the last three trading days [1][2][3] - On August 20, 2025, the financing balance reached 1.68 billion yuan, reflecting a 1.63% increase from the previous day [2][3] - The financing net purchases for the previous trading days were 1,966.96 million yuan on August 19 and 320.12 million yuan on August 18, indicating a strong upward trend in investor interest [2][3] Group 2 - The financing balance as a percentage of the circulating market value was 3.52% on August 20, 2025, showing a slight increase from 3.48% on August 19 [2] - The overall margin trading balance (financing and securities lending) was 1.68 billion yuan on August 20, 2025, with a notable increase in activity compared to previous days [3] - There were no securities lending transactions reported on August 20, 2025, indicating a focus solely on financing activities during this period [1][2]

Group 1: Fixed Income Market Insights - The fixed income market has shown a "N" shaped trend this year, with a "see-saw" effect between stocks and bonds re-emerging as market dynamics shift [1][25] - The bond market's main narrative has changed, indicating that current market behavior is driven more by risk appetite and asset reallocation rather than fundamental or liquidity factors [25][26] - The "look at stocks, act on bonds" strategy may continue in the third quarter, with the 10-year government bond yield expected to stabilize in the range of 1.75%-1.80% [1][28] Group 2: Banking Sector Performance - In the first half of 2025, commercial banks reported a net profit of 1.24 trillion yuan, a year-on-year decrease of 1.20%, but with signs of marginal improvement compared to the first quarter [3] - City commercial banks showed the most significant performance improvement, with a total profit of 176.9 billion yuan, a year-on-year decrease of 1.10% but a notable increase in growth rate [3] - The outlook for the banking sector suggests that net interest margins may stabilize in the short term due to regulatory controls on deposit renewals and interbank rates [3] Group 3: Company-Specific Developments - Baiyunshan (600332) achieved a revenue of 41.835 billion yuan in the first half of 2025, a year-on-year increase of 1.93%, with a net profit of 2.516 billion yuan, down 1.31% [6] - The company is focusing on expanding its health product segment and enhancing its international market presence, with significant growth in overseas revenue [6][9] - The company has adjusted its revenue forecasts for 2025-2026 due to increased competition and insufficient demand, lowering expected revenues to 78.013 billion yuan and 81.185 billion yuan respectively [9] Group 4: Energy Sector Insights - Kunlun Energy (00135) reported a revenue of 97.543 billion yuan in the first half of 2025, a year-on-year increase of 4.97%, with a total gas sales volume growth of 10.05% [42][43] - The company's LNG processing and transportation segment performed well, achieving record profitability despite a slight decrease in revenue [43][44] - The outlook for the energy sector remains positive, with expectations for continued growth in gas sales and operational efficiency improvements [43][44] Group 5: Retail and Consumer Goods - Xiaoshangcheng (600415) reported a revenue of 7.713 billion yuan in the first half of 2025, a year-on-year increase of 13.99%, with a net profit growth of 16.78% [10] - The company is focusing on expanding its trade services and has successfully completed trials for various consumer goods, indicating strong potential for future growth [10] - The outlook for the retail sector is optimistic, with expectations for continued growth driven by new market openings and the Belt and Road Initiative [10]

（文章来源：每日经济新闻） 天风证券8月20日发布研报称，给予嘉必优（688089.SH，最新价：28.4元）买入评级。评级理由主要包 括：1）主业——2025H1业绩高增长，受益多维因素驱动；2）拓新——合成生物+AI，加速新领域拓展 效率；3）研发方面，公司生物信息学平台已在本地部署了deepseek-R1大模型；4）成果方面，公司已 拥有较多产品储备，尤其在HMO领域。双方将结合时空多组学等组学技术。风险提示：国际贸易/食品 安全风险，投资及新业务、新产品开发不及预期。 ...