证券代码：000615 证券简称：*ST美谷 公告编号：2023-101 奥园美谷科技股份有限公司 关于股票交易异常波动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、股票交易异常波动情况 奥园美谷科技股份有限公司（以下简称"公司"）股票（证券简称：*ST 美 谷，证券代码：000615）连续三个交易日（2023 年 8 月 9 日、2023 年 8 月 10 日、2023 年 8 月 11 日）收盘价格涨幅偏离值累计超过 12%，根据《深圳证券交 易所交易规则》的有关规定，属于股票交易异常波动的情况。 二、公司关注、核实情况说明 针对公司股票异常波动，公司对有关事项进行了核查，现就有关情况说明 如下： 1、公司前期披露的信息不存在需要补充、更正之处。 2、公司未发现近期公共媒体报道了可能或已经对本公司股票交易价格产 生较大影响的未公开重大信息。 3、目前公司经营活动正常，内外部经营环境未发生或预计发生重大变化。 4、公司、控股股东和实际控制人不存在关于公司的应披露而未披露的重大 事项，或处于筹划阶段的重大事项。 5、经核查，公司控股股东、实际控制 ...

证券代码：000615 证券简称：*ST美谷 公告编号：2023-100 奥园美谷科技股份有限公司 关于收到中国证监会立案告知书的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 奥园美谷科技股份有限公司（以下简称"公司"）于 2023 年 8 月 8 日收到 中国证券监督管理委员会（以下简称"中国证监会"）下发的《立案告知书》 （编号：证监立案字 0052023019），因公司涉嫌信息披露违法违规，根据《中 华人民共和国证券法》《中华人民共和国行政处罚法》等法律法规，中国证监 会决定对公司进行立案。 立案期间，公司将积极配合中国证监会的相关工作，并严格按照相关法律 法规及监管要求履行信息披露义务。 目前公司各项生产经营活动正常有序开展，本次立案不会对公司生产、经 营和管理造成重大影响。 公司指定的信息披露媒体为《证券时报》《证券日报》和巨潮资讯网 （www.cninfo.com.cn），有关公司信息均以前述指定媒体刊登的公告为准。敬 请广大投资者谨慎决策，注意投资风险。 特此公告。 奥园美谷科技股份有限公司 董事会 二〇二三年八月九日 1 ...

证券代码：000615 证券简称：*ST美谷 公告编号：2023-099 奥园美谷科技股份有限公司 关于公司控股股东质押情况的进展公告 种或多种方式对标的证券及其警息进行违约处置以及其他《信达证券有限公司股 票质拥式回购交易业务协议和风险揭示书》第七十条项下救济措施，具体处置数 量和金额以实际执行结果为准。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、股东股份质押基本情况 截至本公告日，奥园美谷科技股份有限公司（以下简称"公司"）控股股东 深圳奥园科星投资有限公司（以下简称"奥园科星"）所持公司股份的质押情况： 1、奥园科星办理股票质押式回购交易时，所持公司股份 229,231,817 股， 质押股份数量占其所持股份比例为 75%，具体详见 2020 年 8 月 29 日刊登在巨潮 资讯网（www.cninfo.com.cn）的《关于控股股东进行股票质押式回购交易的公 告》。 2、中国东方资产管理股份有限公司重庆市分公司因公证债权文书未被履行 而向重庆市第五中级人民法院申请强制执行，被执行人为奥园科星、奥园集团有 限公司等，执行标的额合计 750,92 ...

Financial Position and Audit Concerns - The company received an audit report with a disclaimer of opinion for the 2022 financial statements, indicating significant uncertainties regarding its financial position [7]. - As of December 31, 2022, the company's net assets attributable to shareholders were negative, which will lead to a "delisting risk warning" on its stock trading [8]. - The management has expressed concerns about the company's ability to continue as a going concern due to the uncertainties highlighted in the audit reports [8]. - The company has been warned that its stock will face additional risk warnings due to negative net profit over the past three years [9]. - The company is facing a risk of delisting due to a negative net asset value at the end of 2022 and the disclaimer of opinion in the financial report, which will trigger a "delisting risk warning" on its stock trading [200]. - The board has been tasked with providing feasible plans for enhancing credit and introducing strategic investors to address significant debt risks [195]. - The independent directors have expressed understanding of the audit firm's disclaimer and have urged the management to take effective measures to minimize adverse impacts [197]. Revenue and Profitability - The company's operating revenue for 2022 was approximately ¥1.36 billion, a decrease of 14.66% compared to ¥1.54 billion in 2021 [25]. - The net loss attributable to shareholders was approximately ¥1.58 billion, representing a significant increase of 457.99% from a loss of ¥253 million in 2021 [25]. - Total revenue for the year 2022 was approximately ¥1.36 billion, a decrease of 14.66% compared to ¥1.59 billion in 2021 [57]. - Revenue from the medical beauty services segment increased by 41.59% to approximately ¥609.4 million, accounting for 44.94% of total revenue [57]. - Domestic revenue decreased by 21.23% to approximately ¥1.13 billion, while international revenue increased by 44.22% to approximately ¥229.8 million [59]. Legal and Regulatory Challenges - The company has faced legal challenges, including a lawsuit from China Cinda Asset Management Co., Ltd., which may impact its financial assessments [6]. - The company is currently involved in an arbitration case concerning a contractual dispute over 408 million RMB related to the sale of equity interests [186]. - The company has encountered significant litigation risks, including a major lawsuit from China Cinda Asset Management, which could impact its assets and operations [99]. Internal Controls and Governance - The internal control audit report revealed significant deficiencies in the company's internal controls [7]. - The internal control audit report issued a negative opinion, stating that the company failed to maintain effective internal controls over financial reporting as of December 31, 2022 [151]. - The internal control self-assessment report indicates that the total assets and operating income of the evaluated units account for 100% of the company's consolidated financial statements [149]. - The company has acknowledged issues with governance, including conflicts of interest involving independent directors and competition with controlling shareholders in similar business areas [153]. - The company has established a management system to prevent fund occupation by controlling shareholders and related parties, in compliance with regulatory requirements [191]. Strategic Focus and Market Position - The company is focused on the development of new products and technologies in the beauty and healthcare sectors [20]. - The company plans to expand its market presence and explore potential mergers and acquisitions to enhance growth [20]. - The company aims to become a leading brand in the beauty and health industry and an integrated player in the medical beauty ecosystem through acquisitions and partnerships [92]. - The company is exploring horizontal and vertical expansions in its product lines and may engage in mergers and acquisitions to adapt to market changes [98]. Environmental and Compliance Efforts - The company has established a comprehensive environmental management system, adhering to 60 relevant laws and regulations to ensure compliance and improve operational standards [157]. - The company has implemented ultra-low emission modifications on three boilers, achieving a reduction in total emissions: particulate matter decreased by 48.31%, nitrogen oxides by 63.57%, and sulfur dioxide by 72.87% compared to the previous year [161]. - The company has established a laboratory for manual monitoring of wastewater quality, conducting tests twice daily [167]. - The company is classified as a key regulatory unit for soil pollution in Xiangyang City, with monitoring results publicly disclosed [169]. Human Resources and Management - The company has a total of 2,615 employees, with 1,981 in production, 71 in sales, 344 in technology, 53 in finance, and 166 in administration [138]. - The company has implemented an employee stock ownership plan to incentivize staff [147]. - The company has a structured salary system based on job responsibilities, qualifications, and contributions, ensuring fair compensation for its management team [126]. - The company has established a performance evaluation system for senior management, ensuring compensation is based on job responsibilities and performance metrics [146]. Future Outlook and Growth Plans - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20% to 1.8 billion yuan [178]. - New product development includes the launch of two innovative technologies aimed at enhancing user experience, expected to contribute an additional 200 million yuan in revenue [178]. - The company is planning market expansion into three new provinces, which is anticipated to increase market share by 10% [178]. - A strategic acquisition of a competitor is in progress, valued at approximately 500 million yuan, aimed at consolidating market position [178].

Goodwill Impairment - The company reported a goodwill impairment loss of approximately ¥38.50 million for Zhejiang Lantianmei Enterprise Management Co., Ltd. in the current year[12]. - The company has recognized a goodwill impairment loss of ¥7.29 million for Guangdong Aurora Health Management Consulting Co., Ltd.[12]. - The total carrying amount of goodwill for Zhejiang Lantianmei Enterprise Management Co., Ltd. was ¥650.97 million, with a corresponding impairment of ¥38.50 million[8]. - The total carrying amount of goodwill for the asset group of Guangdong Aurora Health Management Consulting Co., Ltd. was ¥7.29 million, with no impairment recognized[8]. - The goodwill value for Zhejiang Lantianmei is recorded at 650,966.79, with an impairment provision of 38,504,500[16]. - The company has recognized a goodwill impairment loss amounting to 38,504,500 for the current year[16]. Recoverable Amount and Future Cash Flows - The recoverable amount for Zhejiang Lantianmei Enterprise Management Co., Ltd. was estimated at ¥1.22 billion, while the carrying amount was ¥1.29 billion, indicating a potential impairment[12]. - The estimated future cash flows for the asset group of Zhejiang Lantianmei Enterprise Management Co., Ltd. were projected at ¥1.22 billion for the forecast period[11]. Revenue Growth Expectations - The company anticipates a revenue growth rate of 4.75% for the forecast period from 2023 to 2027 for Zhejiang Lantianmei Enterprise Management Co., Ltd.[11]. - The company expects a stable period revenue growth rate of 0% for the asset group of Zhejiang Lantianmei Enterprise Management Co., Ltd. beyond 2028[11]. Impairment Testing and Assumptions - The company has conducted a goodwill impairment test and found no impairment indicators for the asset group of United Navigation Asset Management Co., Ltd.[3]. - The company has made significant assumptions regarding the continuity of operations and market conditions in its impairment testing process[6]. Performance Decline - The annual performance of certain assets has declined by over 50%, highlighting potential financial distress[17]. - The company has not reversed the downward trend in performance for assets that experienced a decline of over 50%[18]. - There is a 55% equity stake in the related asset group, indicating a significant ownership interest[16].

Financial Performance - The company's revenue for Q1 2023 was ¥325,695,325.87, representing a 4.32% increase compared to ¥312,221,838.58 in the same period last year[7] - The net loss attributable to shareholders was ¥22,505,594.98, a 41.97% improvement from a loss of ¥38,781,641.68 in the previous year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥23,688,516.41, showing a 44.22% improvement from ¥42,469,118.77 in the previous year[7] - The total operating revenue for Q1 2023 was CNY 325,695,325.87, an increase of 4.73% compared to CNY 312,221,838.58 in Q1 2022[21] - The net loss for Q1 2023 was CNY 20,209,613.67, an improvement from a net loss of CNY 44,218,448.10 in Q1 2022[22] - The gross profit margin for Q1 2023 was approximately -4.06%, compared to -14.52% in Q1 2022[21][22] Cash Flow - The net cash flow from operating activities was ¥46,120,082.04, a significant increase of 171.12% compared to a negative cash flow of ¥64,848,599.50 in the same period last year[7] - In Q1 2023, the net cash flow from operating activities was ¥46,120,082.04, a significant improvement compared to a net outflow of ¥64,848,599.50 in Q1 2022[25] - The total cash inflow from investment activities was ¥56,880,826.92, while the cash outflow was ¥20,514,063.20, resulting in a net cash inflow of ¥36,366,763.72, compared to a net outflow of ¥21,397,022.81 in the same period last year[25] - The company reported a total cash inflow from operating activities of ¥327,074,365.47, compared to ¥924,368,669.27 in Q1 2022, indicating a decrease in operational cash generation[25] - The cash outflow for operating activities was ¥280,954,283.43, significantly lower than the ¥989,217,268.77 recorded in the previous year[25] - The cash flow from financing activities resulted in a net outflow of ¥18,177,291.48, compared to a net outflow of ¥129,150,457.14 in the same quarter last year[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,733,631,786.88, a decrease of 0.70% from ¥3,738,743,925.45 at the end of the previous year[7] - The total liabilities decreased slightly to CNY 3,522,392,175.46 from CNY 3,529,983,665.96 in the previous year[22] - The total equity attributable to shareholders of the parent company was CNY -182,448,874.74, worsening from CNY -161,383,279.76 in Q1 2022[22] - The equity attributable to shareholders decreased by 13.05% to -¥182,448,874.74 from -¥161,383,279.76 at the end of the previous year[7] Shareholder Information - Total number of common shareholders at the end of the reporting period is 92,506[14] - Shenzhen Aoyuan Kexing Investment Co., Ltd. holds 30.04% of shares, totaling 229,231,817 shares, with all shares frozen[14] - The company reported a total of 229,231,817 unrestricted shares held by major shareholders[15] Inventory and Investments - The company has a long-term equity investment of ¥13,885,543.53, up from ¥11,544,426.92, showing an increase of approximately 20.3%[18] - The company’s inventory decreased to ¥177,640,644.97 from ¥183,652,478.20, a reduction of about 3.7%[18] Government and Non-Recurring Items - The company recognized a government subsidy of ¥2,609,465.19 related to its normal operations[11] - The company reported a non-recurring gain of ¥248,268.33 from the disposal of non-current assets[10] - The company implemented a change in accounting policy that resulted in an increase in deferred tax assets and liabilities of ¥21,248,965.60 each[8] Research and Development - The company has ongoing research and development expenses amounting to CNY 6,237,512.80 for Q1 2023, slightly down from CNY 6,766,979.92 in Q1 2022[21] - The company has not disclosed any new product or technology developments in the current report[16] Future Outlook - The company aims to enhance its market position through strategic initiatives, although specific future outlooks were not detailed in the provided documents[22]

证券代码：000615 证券简称：奥园美谷 编号：2022-01 奥园美谷科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-----------------------|-------------------------------|---------------------------------------------------------------------------------------------------| | | | | | | ☐ 特定对象调研 | ☐ 分析师会议 | | 投资者关系活动 | ☐ 媒体采访 | 业绩说明会 | | 类别 | ☐ 新闻发布会 | ☐ 路演活动 | | | ☐ 现场参观 | | | | ☐ | 其他（请文字说明其他活动内容） | | 形式 | ☐ 现场 网上 | ☐ 电话会议 | | 参与单位名称及人 | 线上参与公司 2021 | 年度网上业绩说明会的投资者 | | 员姓名 | | | | 时间 | 2022 年 05 月 18 日 | 15:00-17:00 | | 地点 | 网络互动平台：价值在线（ | www.i ...

奥园美谷科技股份有限公司 2022 年第三季度报告 证券代码：000615 证券简称：奥园美谷 公告编号：2022-083 奥园美谷科技股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 重要内容提示： 1、董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2、公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季 度报告中财务信息的真实、准确、完整。 3、第三季度报告是否经过审计 □是 否 1 奥园美谷科技股份有限公司 2022 年第三季度报告 一、主要财务数据 | | | 上年同期 | | 本报告期 比上年同 | 年初至报告期末 | 上年同期 | | 年初至报告 期末比上年 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 本报告期 | | | 期增减 | | | | 同期增减 | | | | 调整前 | 调整后 | 调整后 | | 调整 ...

Business Operations and Strategy - Aoyuan Beauty Valley reported a significant asset sale in 2021, completing the registration of the relevant companies, which has impacted its current business operations[5]. - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves for the reporting period[6]. - The company has undergone an industry classification change following the sale of its major real estate business, awaiting confirmation from the regulatory authority[5]. - The company is focusing on the biobased fiber and medical beauty sectors as its main business areas following a major asset restructuring in 2021[26]. - The company aims to become a leading brand in the beauty and health industry by integrating upstream and downstream operations in the medical aesthetics sector[37]. - The company is actively pursuing international certifications for high-end mask exports to enhance its market presence[31]. - The company is currently exploring market expansion opportunities but has not disclosed specific strategies[108]. Financial Performance - The company's operating revenue for the reporting period was ¥748,941,879.69, a decrease of 35.81% compared to the same period last year[20]. - The net profit attributable to shareholders was -¥78,341,490.47, representing a decline of 256.28% year-on-year[20]. - The net cash flow from operating activities improved to -¥40,562,655.45, an increase of 79.52% compared to the previous year[20]. - Total assets at the end of the reporting period were ¥3,920,181,737.39, down 8.16% from the end of the previous year[21]. - The net assets attributable to shareholders decreased to ¥1,345,312,373.86, a reduction of 6.26% compared to the previous year[21]. - The company's total revenue for the first half of 2022 was approximately ¥748.94 million, a decrease of 35.81% compared to ¥1.17 billion in the same period last year[41]. - The company reported a significant increase in sales expenses, which rose by 47.45% to ¥72.22 million, primarily due to increased costs in the medical beauty segment[41]. - The company's R&D investment increased by 13.78% to ¥14.96 million, reflecting ongoing development efforts[41]. Market and Industry Insights - The medical beauty market in China was valued at ¥189.1 billion in 2021, with a year-on-year growth of 22.1%[29]. - The projected market size for China's medical beauty industry is expected to reach ¥638.2 billion by 2030[29]. - The company has experienced a recovery in downstream demand for viscose filament, leading to an increase in prices[28]. - The global production capacity of viscose filament is approximately 280,000 tons, with China accounting for over 75% of this capacity[28]. Environmental and Social Responsibility - The company emphasizes environmental protection and sustainable development, adhering to strict pollutant discharge standards[80]. - The company actively engages in social responsibility initiatives, including building schools in impoverished areas and establishing charitable funds[80]. - The company has implemented automatic monitoring systems for wastewater and flue gas emissions, ensuring compliance with environmental standards[77]. - There were no administrative penalties related to environmental issues during the reporting period, indicating compliance with regulations[79]. Corporate Governance and Compliance - The financial report is guaranteed to be true, accurate, and complete by the company's management, including the legal representative and accounting personnel[4]. - The company is committed to maintaining shareholder rights and improving corporate governance structures to protect minority shareholders[80]. - The company has established a management system to prevent fund occupation by controlling shareholders and related parties[93]. - The company has not reported any significant contracts or performance issues during the reporting period[108]. Challenges and Risks - The company faced risks from the ongoing COVID-19 pandemic, which impacted business operations and consumer spending[60]. - The company has a substantial amount of external guarantees and bank loans, which pose a high financial risk if the guaranteed parties fail to repay their debts on time[62]. - The company has faced challenges due to fluctuating raw material prices and the impact of COVID-19 on consumer behavior, but it has adapted its strategies accordingly[36]. Shareholder Information - The largest shareholder, Shenzhen Aoyuan Kexing Investment Co., Ltd., holds 29.34% of the shares, totaling 229,231,817 shares[128]. - The total number of ordinary shareholders at the end of the reporting period is 96,407[127]. - The company has not experienced any changes in its controlling shareholder during the reporting period[131]. - The total number of shares before the change was 781,180,319, with no change in total shares during the reporting period[122]. Legal and Arbitration Matters - The company is involved in a significant arbitration case with Shenzhen Kaixian Investment Co., Ltd., with a claim amount of 407.9992 million yuan and overdue interest of 411.7527 million yuan[96]. - The company has a pending arbitration case with China Railway Fourth Bureau Group Co., Ltd., involving a claim amount of 367.4771 million yuan, which has not yet been heard[96]. - The company has confirmed daily related party transactions amounting to 185.81 million yuan, which did not exceed the expected amount for 2022[98].

Business Transition - The company reported a significant change in its main business, shifting from real estate to focus on chemical fiber new materials and medical beauty services[18]. - The company has undergone a major asset sale related to its real estate business, with the relevant companies completing industrial and commercial change registration[4]. - The company has completed the divestiture of its real estate business, focusing on medical beauty and chemical fiber new materials, with the medical beauty sector contributing to steady revenue growth post-pandemic[35]. - The company has shifted its main business focus to viscose new materials and medical beauty services after divesting from real estate operations[65]. - The company has divested its real estate business to concentrate on the medical beauty sector, optimizing its asset structure and business focus[53]. Financial Performance - The company's operating revenue for 2021 was approximately ¥1.54 billion, a decrease of 22.58% compared to ¥1.99 billion in 2020[19]. - The net profit attributable to shareholders was a loss of approximately ¥253.37 million, representing an 88.03% increase in losses compared to a loss of ¥134.75 million in 2020[19]. - The net profit after deducting non-recurring gains and losses was a loss of approximately ¥671.50 million, which is a 234.01% increase in losses compared to a loss of ¥201.04 million in 2020[19]. - The total assets at the end of 2021 were approximately ¥4.32 billion, a decrease of 54.29% from ¥9.45 billion at the end of 2020[19]. - The net assets attributable to shareholders decreased by 14.48%, totaling approximately ¥1.47 billion at the end of 2021 compared to ¥1.71 billion at the end of 2020[19]. Audit and Compliance - The company’s financial report has been audited by Zhongzheng Huayuan Accounting Firm, which issued an unqualified opinion with emphasis on certain matters[4]. - The company faced uncertainty regarding its ability to continue as a going concern, as indicated in the audit report for the most recent year[19]. - The company has not yet received approval from the China Securities Regulatory Commission regarding its industry classification results for Q4 2021[5]. - The company has not engaged in any securities or derivative investments during the reporting period[86][87]. - The company did not have any fundraising activities during the reporting period[88]. Strategic Development - The company plans to expand its medical beauty services and products through mergers and acquisitions, focusing on the Yangtze River Delta and Guangdong-Hong Kong-Macau Greater Bay Area[46]. - The company aims to establish a national beauty health brand and become a leading integrator in the beauty and health industry[46]. - The company is exploring market expansion opportunities and potential mergers and acquisitions to enhance its competitive position[108]. - The company aims to improve operational efficiency by implementing new technologies, expecting a reduction in operational costs by 10% in 2022[125]. - The company is committed to enhancing management efficiency and effectiveness through a global partner program and by attracting strategic talent in the medical beauty sector[101]. Research and Development - The company has completed the research and development of 60D ultra-fine filament, which meets the GB/T 13758 standard and is expected to increase profit by approximately 30,000 yuan per ton compared to regular filament[69]. - The company is actively pursuing new product development and market expansion, including collaborations with universities and research institutions[71]. - The company’s R&D investment amounted to ¥26,310,327.93, representing a 39.03% increase compared to ¥18,924,275.97 in the previous year[72]. - The company has established a salary distribution system linked to employee positions, performance, and capabilities, ensuring timely salary payments[145]. - The company is focused on becoming a leading supplier of medical mask substrates, targeting new materials for drug-loaded masks and enhancing production capacity for green fiber products[100]. Governance and Shareholder Relations - The company held 6 shareholder meetings during the reporting period, ensuring equal voting rights for all shareholders, particularly minority investors[111]. - The board of directors consists of 9 members, including 3 independent directors, and held 14 meetings throughout the year, adhering to legal and regulatory requirements[112]. - The company emphasizes the importance of stakeholder rights, aiming for a balance of interests among shareholders, employees, and suppliers[113]. - The company has established an independent accounting system and financial management practices, ensuring separate financial operations from the controlling shareholder[116]. - The company is committed to improving information disclosure quality and compliance with relevant laws and regulations[169]. Environmental Responsibility - The company operates three wastewater treatment plants with a total daily processing capacity of 54,500 tons, achieving a COD removal rate of 96.35%[174]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[176]. - The company emphasizes employee rights protection, adhering to labor laws and providing comprehensive training and social insurance, including medical and pension benefits[177]. - The company has invested nearly 100 million yuan in social welfare initiatives, including building five hope primary schools in impoverished areas[178]. - The company maintains a high level of resource utilization and strictly controls pollutant emissions during production, promoting green office practices[179]. Market Position and Future Outlook - The medical beauty market in China is characterized by a large consumer base, high growth potential, and low penetration, indicating significant room for expansion in the coming years[32]. - The company’s medical beauty materials have received international certifications, reinforcing its commitment to quality and sustainability in the production of high-end medical beauty products[36]. - The company is committed to building a nationwide trusted medical beauty brand and becoming an integrated player in the medical beauty ecosystem[97]. - The company plans to conduct a special audit report to verify the cumulative net profit of the target company at the end of the performance commitment period[191]. - The company is expected to receive cash compensation if the target company's cumulative net profit does not meet the commitment by the end of the performance period[191].