Group 1 - The overall performance of domestic beauty and skincare companies in the first half of 2025 remains stable, with Proya and Shiseido maintaining their positions as industry leaders, while Juzhibio leads in profit [1][2] - Proya's main brand shows a slight decline, indicating a near ceiling for single-brand growth in the domestic market, while Maogeping has entered the top five, representing the high-end trend in domestic beauty [2][10] - The financial performance of major companies shows varied results, with Proya reporting revenue of 5.362 billion yuan (up 7.21%), Shiseido at 4.108 billion yuan (up 17.30%), and Juzhibio at 3.113 billion yuan (up 22.50%) [3][4] Group 2 - Juzhibio's profit reached 1.182 billion yuan, a 20.60% increase, while Proya's profit was 799 million yuan (up 13.80%) and Maogeping's profit was 670 million yuan (up 36.10%) [5][6] - The beauty industry is facing challenges with brand positioning and organizational restructuring, particularly for established companies like Huaxi Biological and Beitaini, which have seen significant declines in performance [25][30] - Maogeping has successfully expanded into high-end skincare and fragrance markets, with a focus on diversifying its business to reduce reliance on single products [20][23] Group 3 - The emergence of new active ingredients, such as ergothioneine, is gaining attention in the beauty industry, with companies investing in research and development to innovate [39][42] - Marketing strategies are shifting towards brand strength and celebrity endorsements, with companies like Proya and Marubi actively engaging high-profile brand ambassadors [51][53] - Companies are increasingly focusing on building comprehensive sales channels that integrate online and offline strategies, as well as domestic and international markets, to adapt to changing consumer behaviors [58][60]

Core Viewpoint - Huaxi Biological experienced a stock price decline of 2.00% on September 23, with a current price of 54.34 CNY per share and a total market capitalization of 26.174 billion CNY [1] Company Overview - Huaxi Biological Technology Co., Ltd. was established on January 3, 2000, and went public on November 6, 2019. The company operates in the fields of microbial fermentation and cross-linking technology, developing bioactive materials that contribute to human health [1] - The company has established a full industry chain business system, serving global pharmaceutical, cosmetic, food manufacturing enterprises, medical institutions, and end-users [1] Business Revenue Composition - The revenue composition of Huaxi Biological is as follows: - Skin science innovation transformation business: 40.34% - Medical terminal products: 29.76% - Raw material products: 27.70% - Others: 2.17% - Other (supplement): 0.03% [1] Stock Performance - Year-to-date, Huaxi Biological's stock price has increased by 6.70%, but it has seen a decline of 7.00% over the last five trading days and 6.60% over the last twenty days [1] Financial Performance - For the first half of 2025, Huaxi Biological reported a revenue of 2.261 billion CNY, a year-on-year decrease of 19.57%, and a net profit attributable to shareholders of 221 million CNY, down 35.38% year-on-year [2] Shareholder Information - As of July 31, the number of shareholders of Huaxi Biological was 32,500, an increase of 1.78% from the previous period. The average circulating shares per person decreased by 1.75% to 14,799 shares [2] Dividend Distribution - Since its A-share listing, Huaxi Biological has distributed a total of 1.138 billion CNY in dividends, with 528 million CNY distributed over the past three years [3] Institutional Holdings - As of June 30, 2025, major shareholders include: - Huaxia SSE Sci-Tech Innovation Board 50 ETF (588000) - 10.6429 million shares, down 244,800 shares - E Fund SSE Sci-Tech Innovation Board 50 ETF (588080) - 7.9777 million shares, up 227,800 shares - Huabao CSI Medical ETF (512170) - 6.4329 million shares, newly entered - Hong Kong Central Clearing Limited - 5.7990 million shares, up 1.3124 million shares [3]

Market Overview - The Shanghai Composite Index rose by 0.22% on September 22, with 11 sectors experiencing gains, led by the electronics and computer sectors, which increased by 3.71% and 1.70% respectively [1] - The total net outflow of capital from the two markets was 18.892 billion yuan, with only four sectors seeing net inflows [1] Sector Performance - The electronics sector had the highest net inflow of capital, amounting to 9.357 billion yuan, coinciding with its 3.71% increase [1] - The computer sector followed with a net inflow of 2.081 billion yuan and a daily increase of 1.70% [1] - The power equipment sector experienced the largest net outflow, totaling 4.662 billion yuan, while the pharmaceutical and biological sector saw a net outflow of 3.371 billion yuan [1] Beauty and Personal Care Industry - The beauty and personal care sector declined by 1.36%, with a net outflow of 223 million yuan [2] - Out of 29 stocks in this sector, 8 rose while 21 fell [2] - The top three stocks with the highest net outflow included Aimeike, Pola, and Qingdao King, with outflows of 73.5801 million yuan, 27.1153 million yuan, and 24.1188 million yuan respectively [2] Capital Flow in Beauty and Personal Care - The top stock with net inflow in the beauty sector was Shuiyang Co., with an inflow of 13.0672 million yuan [3] - Other notable inflows were from Runben Co. and Jinsong New Materials, with inflows of 4.8789 million yuan and 2.4414 million yuan respectively [3] - The overall capital flow data indicates a challenging environment for the beauty and personal care sector, with significant outflows from major companies [2][3]

Group 1 - The medical beauty sector experienced a decline of 1.81% on September 22, with Ai Meike leading the drop [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] - Major stocks in the medical beauty sector showed varied performance, with *ST Meigu closing at 3.20, up 3.56%, and Ai Meike closing at 182.95, down 2.03% [1] Group 2 - The net outflow of main funds in the medical beauty sector was 93.56 million yuan, while retail investors saw a net inflow of 57.63 million yuan [1] - Specific stock fund flows indicated that Ai Meike had a net outflow of 78.89 million yuan, representing a decrease of 13.97% [2] - Huaxi Biological had a net outflow of 17.17 million yuan, down 8.74%, while *ST Meigu saw a net inflow of 2.50 million yuan, up 3.23% [2]

Core Viewpoint - Huaxi Bio's stock price has shown fluctuations, with a year-to-date increase of 8.82% but a recent decline of 7.48% over the past five trading days, indicating potential volatility in investor sentiment [2]. Company Overview - Huaxi Bio, established on January 3, 2000, and listed on November 6, 2019, is located in Jinan, Shandong Province. The company specializes in microbial fermentation and cross-linking technologies, developing bioactive materials that contribute to human health [2]. - The company has a comprehensive business model that spans from raw materials to medical terminal products, functional skincare products, and functional foods, serving global pharmaceutical, cosmetic, food manufacturing companies, medical institutions, and end-users [2]. Revenue Composition - The revenue composition of Huaxi Bio is as follows: 40.34% from skin science innovation transformation, 29.76% from medical terminal products, 27.70% from raw materials, and 2.17% from other sources [2]. Financial Performance - For the first half of 2025, Huaxi Bio reported a revenue of 2.261 billion yuan, a year-on-year decrease of 19.57%, and a net profit attributable to shareholders of 221 million yuan, down 35.38% year-on-year [2]. Shareholder Information - As of June 30, 2025, Huaxi Bio had 32,500 shareholders, an increase of 1.78% from the previous period. The average circulating shares per person decreased by 1.75% to 14,799 shares [2]. - The company has distributed a total of 1.138 billion yuan in dividends since its A-share listing, with 528 million yuan distributed over the past three years [3]. Institutional Holdings - The top ten circulating shareholders include notable ETFs, with Huaxia SSE Sci-Tech Innovation Board 50 ETF holding 10.6429 million shares, a decrease of 244,800 shares from the previous period. Other ETFs have shown varying changes in their holdings [3].

Core Viewpoint - Huaxi Biological (688363.SH) is under increasing performance pressure, leading to heightened market scrutiny of its actions [1] Group 1: Headquarters and Brand Operations - Recent market rumors suggested that Huaxi Biological plans to relocate its headquarters from Beijing to Hangzhou, which the company denied, stating it is adjusting its brand operation locations [2] - The company aims to leverage the brand operation ecosystem advantages in East China by consolidating some brand operation centers in the region [2] - Several beauty companies are indeed concentrated in the Jiangsu-Zhejiang-Shanghai area, such as Proya (603605.SH) and Beitaini (300957.SZ) [2] Group 2: Management Changes - Huaxi Biological has undergone significant changes in its board of directors, with key figures like Fan Yuan and Zou Songyan not re-elected [4] - Fan Yuan was notably responsible for the company's functional skincare business [3] Group 3: Product and Marketing Strategy - The company has closed its smaller revenue-generating skincare brand, Runxiquan, while increasing marketing investments in its main brand, Runbaiyan [4] - In August, Runbaiyan announced Zhang Yixing as its first global brand ambassador, which represents a significant marketing expenditure for Huaxi Biological, especially as the company has reduced its sales expenses [5] - For the first half of 2025, sales expenses were reported at 808 million yuan, a year-on-year decrease of 31.44%, accounting for 35.74% of revenue, down over 6 percentage points year-on-year [5] Group 4: Performance Outlook - The effectiveness of these adjustments in boosting Huaxi Biological's skincare product performance is currently under scrutiny [6]

| 代码 | | | 名称 主力净流入（元） 主力净占比 游资净流入（元） 游资净占比 散户净流入（元） 散户净占比 | | | | | --- | --- | --- | --- | --- | --- | --- | | 000615 *ST美谷 | 6.68万 | 0.44% | -30.22万 | -2.01% | 23.55万 | 1.57% | | 688363 华熙生物 | -2157.57万 | -9.51% | 1236.74万 | 5.45% | 920.83万 | 4.06% | | 300896 爱美客 | -4672.01万 | -7.75% | 4878.06万 | 8.09% | -206.05万 | -0.34% | 从资金流向上来看，当日医疗美容板块主力资金净流出6822.9万元，游资资金净流入6084.57万元，散户 资金净流入738.33万元。医疗美容板块个股资金流向见下表： 证券之星消息，9月19日医疗美容板块较上一交易日上涨0.23%，华熙生物领涨。当日上证指数报收于 3820.09，下跌0.3%。深证成指报收于13070.86，下跌0.04%。医疗美容板块个股涨跌见 ...

近期，有市场消息称华熙生物拟将总部从北京迁往杭州。从华熙生物处获悉，上述传闻属于不实信息， 但华熙生物确实正在调整品牌的运营地。部分品牌运营中心未来会集中在华东地区，与华东原有的运营 团队进行合并。 ...

证券之星消息，9月18日医疗美容板块较上一交易日下跌2.15%，华熙生物领跌。当日上证指数报收于 3831.66，下跌1.15%。深证成指报收于13075.66，下跌1.06%。医疗美容板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 000615 | *ST美谷 | 3.08 | -0.32% | 6.70万 | 2077.22万 | | 832982 | 锦波生物 | 298.48 | -0.41% | 6828.58 | 2.04亿 | | 300896 | 爱美客 | 186.61 | -1.74% | 4.52万 | 8.50亿 | | 688363 | 华熙生物 | 56.31 | -2.88% | 5.78万 | 3.28亿 | 从资金流向上来看，当日医疗美容板块主力资金净流出9636.81万元，游资资金净流入4312.4万元，散户 资金净流入5324.41万元。医疗美容板块个股资金流向见下表： | 代码 | | | 名称 | | | | | --- | --- ...

投资者可于 2025 年 09 月 19 日（星期五）至 09 月 25 日（星期四）16:00 前登 录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 ir@bloomagebiotech.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 华熙生物科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 27 日发 布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半 年度经营成果、财务状况，公司计划于 2025 年 09 月 26 日（星期五）13:00-14:00 举行 2025 年半年度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 证券代码：688363 证券简称：华熙生物 公告编号：2025-035 华熙生物科技股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2025 年 09 月 26 ...