Core Viewpoint - Dong'e Ejiao is prioritizing the cultivation of a "second growth curve" by investing in a health consumer goods industrial park to meet the consumption demands of younger consumers for health products [1][3]. Investment and Project Details - The company plans to invest 1.485 billion yuan (including 1.421 billion yuan for fixed assets and 64 million yuan for working capital) in the industrial park project, which will focus on the production and logistics of health consumer goods, including food and health supplements [1][3]. - The project aims to align with the rapid development of the health industry and the emerging trend of "health management for the young," providing a core driving force for future performance growth [3]. Business Strategy and Market Position - Dong'e Ejiao is expanding its health consumer goods business alongside its pharmaceutical operations, aiming to create a dual-driven growth model [5]. - The construction of the new facility is seen as a proactive attempt to address the challenges posed by tight raw material supplies, particularly the scarcity of donkey hides, which are essential for their main product, Ejiao [5]. Raw Material Supply Challenges - The company is facing a tightening supply of raw materials, particularly due to a decline in the domestic donkey population, which has led to rising prices for donkey meat and hides [4]. - The chairman of Aoyou International emphasized the need for Dong'e Ejiao to transition from passive reliance on raw materials to actively building a complete industry chain ecosystem to ensure sustainable growth [4].

近年来，东阿阿胶（000423）把培育"第二增长曲线"放在公司发展的紧要位置。2月11日，东阿阿胶宣布，拟以14.85亿元投资建设健康消费品产业园项目， 将匹配年轻消费群体对滋补健康产品的消费诉求。 具体来看，2月11日，东阿阿胶发布公告称，公司拟以14.85亿元（其中固定资产投资14.21亿元，铺底流动资金0.64亿元）的自有资金投资建设健康消费品产 业园项目，用于药食同源食品、保健品、功能性食品等健康消费品的生产与配套仓储物流、质检中心、新品孵化中心、电商分拣及药品成品仓储等。 据了解，东阿阿胶主要从事阿胶和阿胶系列及其他中成药等产品的研发、生产和销售。 目前，东阿阿胶阿胶及系列产品为公司贡献较大营收。2025年上半年，东阿阿胶来自阿胶及系列产品的营业收入为28.45亿元，占比超九成。 值得一提的是，近年来，东阿阿胶逐渐面临原材料供应紧张的情况。近年来，国内驴存栏量下降已成为行业共识，阿胶的主要原料驴皮也随之紧俏。 据了解，近年来，全国各地驴肉价格呈现快速上涨态势，从活驴收购到终端零售均承受一定压力。截至2026年初，驴肉价格仍处于高位。 东阿阿胶曾在2025年半年报中直言，随着农业运输机械化的提高和城镇 ...

Core Viewpoint - Dong'e Ejiao plans to invest 1.485 billion yuan in a health consumer goods industrial park, marking one of its largest single investments in recent years [1][3] Group 1: Investment Details - The investment includes 1.421 billion yuan for fixed assets and 64 million yuan for liquidity support [1] - The project will cover an area of 406,800 square meters with a construction area of approximately 151,100 square meters, and is expected to take 22 months to complete [3] - This investment aligns with the company's "1238" strategy, which aims to develop a dual-driven growth model of pharmaceuticals and health consumer goods [3] Group 2: Business Strategy - The health consumer goods sector is characterized by diverse demand and rapid product iteration, necessitating higher standards for R&D, quality, and agile supply chains [3] - The existing industrial park faces limitations in expansion and capacity bottlenecks, prompting the need for new facilities to meet the fast-paced development of health consumer goods [3] - The new investment is seen as a strategic move to capitalize on the growing health industry and the trend of "younger health consumption" [3] Group 3: Financial Implications - The investment will consume a significant portion of the company's cash reserves, which stood at approximately 8.2 billion yuan as of the end of Q3 last year [6] - The shift towards heavier asset allocation may lead to a decline in fixed asset turnover during the construction phase, potentially impacting short-term profitability [6] - As of February 11, the company's stock price was 55.44 yuan, with a market capitalization of 35.7 billion yuan, reflecting an 18% decline over the previous year [6] Group 4: Market Competition - Investors express mixed opinions on the investment, with concerns about the impact on the company's balance sheet and liquidity [4] - Competitors in the health consumer goods space include Kunming Pharmaceutical, Yunnan Baiyao, and others, which may pose challenges for Dong'e Ejiao in achieving expected performance [7]

近日，东阿阿胶（000423）发布公告称，公司拟投资建设健康消费品产业园项目，投资总额为14.85亿 元，其中固定资产投资14.21亿元，铺底流动资金0.64亿元。 （东阿阿胶公告） 该项目旨在支持公司健康消费品业务的高质量发展，涵盖药食同源食品、保健品及功能性食品的生产与 配套设施。项目建设地址位于山东省聊城市东阿县经济开发区，建设周期预计约为22个月。 本次投资被认为是公司实施"1238"发展战略的必然要求，符合健康消费品业务发展的迫切需要。项目的 实施将有效保障健康消费品的产能供给，推动公司实现高质量可持续发展。 ...

强化顶层设计，系统谋划布局。县委、县政府主要领导多次主持召开专题座谈会，研究艾草产业发展方向与推进路径，并成立全县艾草产业高质量融合发 展工作专班。制定出台《东阿县推动艾草产业高质量融合发展实施方案》，围绕"做实一产、做强二产、做优三产、做活'艾+'、统筹要素保障"五个方 面，明确16项重点任务，着力构建"九顶莲花艾""艾满水城.艾上东阿"区域公共品牌与企业品牌协同发展的矩阵体系。 齐鲁晚报.齐鲁壹点陶春燕 2月10日下午，聊城市卫生健康委员会举行"品牌赋能大健康产业高质量融合发展"主题发布会，东阿县人民政府党组成员、副县长张强介绍，东阿是"九顶 莲花艾"的原产地与核心产区，东阿县把发展艾草产业作为落实健康中国战略、促进乡村振兴、带动群众增收的重要手段，坚持系统谋划、聚焦培育、场 景先行，全力奏响"艾满水城.艾上东阿"品牌强音。 聚焦产业培育，夯实发展根基。推广"村集体+合作社+企业"种植模式，将艾草种植纳入合作社经营范畴，建设沿黄艾草种植基地。加强艾草产品研发， 推动从专业医疗向家庭健康消费场景延伸。东阿县人民政府、东阿阿胶（000423）股份有限公司与东艾仙草药业有限公司签订战略合作协议，凝聚合力， 推动 ...

Group 1 - The core point of the article is the decision made by the Board of Directors of Dong'e Ejiao Co., Ltd. to invest 1.485 billion yuan in the construction of a health consumer goods industrial park to support the high-quality development of its health consumer goods business [7][16][22] Group 2 - The Board of Directors meeting was held on February 9, 2026, with all 9 directors present, and the meeting complied with relevant laws and regulations [2][4][5] - The meeting approved several proposals, including adjustments to the members of the Board's specialized committees and the investment project for the health consumer goods industrial park [6][7][10] Group 3 - The investment project will utilize 1.485 billion yuan of the company's own funds, with 1.421 billion yuan allocated for fixed asset investment and 0.64 billion yuan for working capital [16][19] - The project aims to produce health consumer goods such as food and health supplements, and will include facilities for production, warehousing, quality inspection, and e-commerce [18][21] Group 4 - The construction of the industrial park is expected to take approximately 22 months from the start of construction [18] - The investment aligns with the company's "1238" development strategy, which focuses on high-quality development in traditional Chinese medicine and expanding into health consumer goods [21][22] Group 5 - The project is deemed necessary to meet the growing demand for health consumer products and to overcome current production capacity limitations [21][22] - The investment is expected to enhance the company's competitive advantage and support sustainable development without affecting existing business operations [22]

Core Insights - The news highlights significant corporate announcements and performance reports from various companies, indicating potential investment opportunities and market movements. Group 1: Corporate Announcements - Ge Weidong invested 1 billion yuan to subscribe for shares in Jianghuai Automobile's private placement, acquiring approximately 20.05 million shares at a price of 49.88 yuan per share, contributing to a total fundraising of about 3.5 billion yuan from eight investors [3][4] - *ST Cube completed its suspension review and will resume trading on February 11, 2026, after confirming no undisclosed significant matters related to the company [2] - Yunnan Baiyao plans to invest 137 million yuan in a second phase project for oral liquid production to meet growing market demand [11] Group 2: Performance Reports - Semiconductor manufacturer SMIC reported a 23.2% year-on-year increase in net profit for Q4 2025, reaching 1.223 billion yuan, driven by increased wafer sales and improved capacity utilization [5] - Special Biological Company reported a net profit of 1.038 billion yuan for 2025, reflecting a 25.39% increase year-on-year, attributed to stable sales of key products and new product approvals [6] - New Zobang achieved a net profit of 1.098 billion yuan in 2025, marking a 16.56% increase compared to the previous year [6] Group 3: Fundraising and Restructuring - New Han New Materials plans to raise up to 1 billion yuan through a private placement to fund projects related to high-performance resins and composite materials [8] - Chutian Long intends to raise up to 760 million yuan for the development of innovative safety products and digital operations [8] - Yi Yi Co. decided to terminate its plan to acquire 100% equity of a pet food company due to changes in the target company's operational conditions [8] Group 4: Major Contracts and Investments - Yunjiji Group signed an EPC contract worth 1.331 billion yuan for a cement production line and power station in Zimbabwe, representing 86.66% of the company's audited revenue for 2024 [9] - Solar Energy's subsidiary plans to acquire 100% of Jinhua Windling for 527 million yuan, enhancing its position in the solar power industry [9] - Yutong Technology intends to acquire 51% of Huayan Technology for 448.8 million yuan, which will become a subsidiary post-transaction [9]

Core Viewpoint - Dong'e Ejiao has announced a significant investment of 1.485 billion yuan to build a health consumer goods industrial park in Shandong Province, marking one of its largest single investments in recent years and a key step in its "pharmaceutical + health consumer goods" dual-drive strategy [2][5]. Investment Details - The project will cover an area of 406,800 square meters, with a construction area of 151,100 square meters [6]. - Out of the total investment of 1.485 billion yuan, 1.421 billion yuan will be allocated to fixed asset investment, while 64 million yuan will be for working capital. The funding will come entirely from the company's own resources, with a construction period of 22 months [8]. Strategic Focus - The new industrial park aims to produce health consumer goods such as medicinal food, health supplements, and functional foods, including products like Ejiao cake, Ejiao dates, and Ejiao powder. It will also feature a comprehensive warehouse and e-commerce center, along with a quality inspection incubation center [8]. - The company has reported a revenue of 4.766 billion yuan for the first three quarters of 2025, a year-on-year increase of 4.41%, and a net profit of 1.274 billion yuan, up 10.53% year-on-year. As of the end of the third quarter of 2025, the company had cash reserves of 5.562 billion yuan [8]. Market Challenges - The company faces significant challenges related to the scarcity of its core raw material, donkey hide, which is crucial for its products. The decreasing availability of this resource poses a risk to the company's growth and expansion plans [9]. - To address this "raw material anxiety," the company is focusing on increasing the utilization and added value of its raw materials by extending into health consumer goods. This strategy includes developing deep-processed products that reduce reliance on single raw materials and enhance overall profit margins [10]. Competitive Landscape - The health consumer goods market is highly competitive, with many established players, making it more complex than the traditional pharmaceutical market where Dong'e Ejiao holds a dominant position. The company recognizes the importance of channel development and research, as indicated by the inclusion of an e-commerce center and a new product incubation center in the new park [10].

本报记者 王僖 2月10日晚间，东阿阿胶股份有限公司（以下简称"东阿阿胶"）发布公告称，公司拟投资14.85亿元自有资金建设健康消费 品产业园项目，其中固定资产投资14.21亿元，铺底流动资金0.64亿元。该举措标志着东阿阿胶在转型升级中迈出关键一步，进 一步彰显其深耕大健康产业的战略决心。 公告显示，该项目将打造集药食同源食品、保健品、功能性食品等健康消费品的生产与配套仓储物流、质检中心、新品孵 化中心、电商分拣及药品成品仓储于一体的综合性基地。 养生年轻化 滋补类中药行业正迎来黄金发展期，年轻一代正迅速成为滋补类中药的消费主力。《天猫保健滋补行业消费场景与人群洞 察》显示，从2020年到2024年，保健滋补行业人均消费提升31%，成交人数提升34%，这一趋势体现了健康养生市场的年轻化 转变。 前述东阿阿胶负责人表示，东阿阿胶健康消费品产业园项目正是看准了银发经济这一历史性机遇，项目建成后将为老年人 提供更多高品质、个性化的健康消费品。 夯实发展基础 东阿阿胶在滋补产业领域拥有深厚的全产业链布局，为健康消费品产业园项目奠定了坚实基础。据前述东阿阿胶负责人介 绍，目前该公司已突破阿胶口服含化技术，研发出阿胶速 ...

Group 1: Company Announcements - Changfei Fiber currently does not engage in CPO-related business [1] - GCL-Poly Energy lacks production capacity for "space photovoltaic" products [1] - Zhongke High-tech plans to invest 145 million yuan in a new PCB drill pin project with an annual capacity of 30 million units [1] - Samsung Medical's wholly-owned subsidiary is expected to win a bid for a 321 million yuan project from Southern Power Grid [1] - Solar Energy's subsidiary intends to acquire 100% equity of Jinhua Windling [1] - SMIC expects a net profit of 1.223 billion yuan for Q4 2025, a year-on-year increase of 23.2% [2] - Kying Network has conducted its first buyback of 2.061 million shares [1] - Runbei Aerospace's controlling shareholder plans to reduce its stake by up to 3% [1] - Zhen'an Technology plans to raise no more than 740 million yuan through a private placement [1] - Jiangsu New Energy intends to issue convertible bonds to raise no more than 1.24 billion yuan [1] Group 2: Investment Projects - Kangda New Materials' subsidiary plans to invest in a project with an annual output of 30,000 tons of polyarylether [1] - China Shipbuilding Industry Corporation plans to build a comprehensive materials park [1] - Dong'a Ejiao intends to invest 1.485 billion yuan in a health consumer goods industrial park [1] - Hongda Co., Ltd. plans to invest approximately 71.43 million yuan in a 110kV power transmission and transformation project [1] Group 3: Share Buybacks and Reductions - Kying Network has executed its first buyback of 2.061 million shares [3] - Huasen Pharmaceutical's Liu Xiaoying plans to reduce her stake by up to 3% [3] - Wushang Group's Dazi Yintai plans to reduce its stake by up to 3% [3] - Runbei Aerospace's controlling shareholder plans to reduce its stake by up to 3% [3]