Group 1: Company Strengths - The company has established long-term stable partnerships with international retailers, pet product brands, and e-commerce channels due to its production scale, delivery capability, R&D strength, and product quality [3]. - The combined annual production capacity of domestic and overseas bases can reach 48.7 billion pet pads and 2 billion pet diapers, with delivery cycles reduced from 45 days to 2 weeks [3]. - The company focuses on R&D for eco-friendly and functional products to help clients upgrade their offerings [3]. Group 2: Sales Performance - In the first three quarters of 2025, overseas sales accounted for 92.63% of total revenue, with North America contributing 64.78%, Asia 22.37%, and Europe 4.69% [3]. - The company achieved a year-on-year sales growth of 37.18% in the first three quarters, expanding over 20 new clients primarily in Europe, Japan, South Korea, South America, and North America [3]. Group 3: Order and Production Capacity - The company has sufficient orders for the fourth quarter, with equipment operating at 100% capacity [3]. - The production base in Cambodia has fully transitioned orders from major clients, enhancing production efficiency [4]. Group 4: Profitability and Cost Management - The company anticipates improvements in gross profit margins due to declining raw material costs, optimized product structure, and increased utilization of high-margin pet diapers [4]. - The non-woven fabric business has turned profitable in the first three quarters, benefiting from industry capacity adjustments [4]. - The company plans to maintain cost control and product upgrades to further solidify its profitability [4].

Core Insights - The company, Yiyi Co., stated on November 4 that as of October 31, 2025, the total number of shareholders holding its stock is 17,612 [2] Company Information - Yiyi Co. has provided an update regarding its shareholder count, indicating a specific figure of 17,612 shareholders as of the end of October 2025 [2]

Market Overview - The personal care products sector experienced a decline of 0.95% on November 4, with Dengkang Oral Care leading the drop [1] - The Shanghai Composite Index closed at 3960.19, down 0.41%, while the Shenzhen Component Index closed at 13175.22, down 1.71% [1] Stock Performance - Notable stock performances include: - Liangmian Needle (600249) rose by 1.72% to close at 6.49, with a trading volume of 321,100 shares and a turnover of 210 million yuan [1] - Zhongshun Jiesang (002511) increased by 0.25% to 8.09, with a trading volume of 144,000 shares [1] - Dengkang Oral Care (001328) fell by 3.17% to 36.65, with a trading volume of 21,900 shares and a turnover of approximately 80.70 million yuan [2] Capital Flow - The personal care products sector saw a net outflow of 41.58 million yuan from institutional investors and 41.59 million yuan from speculative funds, while retail investors had a net inflow of 83.17 million yuan [2] - Detailed capital flow for selected stocks indicates: - Yanjing Co. (300658) had a net inflow of over 9.99 million yuan from institutional investors [3] - Dengkang Oral Care (001328) experienced a net outflow of 2.68 million yuan from institutional investors [3] - The overall trend shows a mixed response from different investor categories, with retail investors showing a positive net inflow across several stocks [3]

Market Overview - The personal care products sector experienced a decline of 0.38% on November 3, with Yiyi Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Stock Performance - Notable gainers in the personal care sector included: - Yanjing Co., Ltd. with a closing price of 9.07, up 4.25% [1] - Liangmian Needle with a closing price of 6.38, up 2.90% [1] - Jieya Co., Ltd. with a closing price of 32.98, up 2.42% [1] - Conversely, Yiyi Co., Ltd. saw a significant decline, closing at 29.34, down 4.37% [2] - Other notable decliners included: - Zhenjian Medical with a closing price of 40.91, down 0.94% [2] - Beijia Clean with a closing price of 30.80, down 0.61% [2] Capital Flow Analysis - The personal care products sector saw a net outflow of 47.21 million yuan from institutional investors, while retail investors contributed a net inflow of 24.22 million yuan [2] - The capital flow for specific stocks showed: - Yanjing Co., Ltd. had a net inflow of 8.22 million yuan from institutional investors [3] - Liangmian Needle experienced a net inflow of 2.80 million yuan from retail investors [3] - Zhenjian Medical faced a net outflow of 8.66 million yuan from institutional investors [3]

证券代码：001206 证券简称：依依股份 公告编号：2025-072 天津市依依卫生用品股份有限公司 公司回购股份的时间、回购股份的数量、回购股份价格及集中竞价交易的委托时间段 均符合《回购指引》的相关规定。 关于回购公司股份的进展公告 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。 天津市依依卫生用品股份有限公司（以下简称"公司"）于 2025 年 4 月 11 日召开第三 届董事会第十九次会议，逐项审议通过了《关于回购公司股份方案的议案》，同意公司使用 自有资金以集中竞价交易方式回购公司发行的人民币普通股（A 股）用于股权激励或员工 持股计划。本次回购资金总额上限为 4,000 万元（含），回购资金总额下限为 2,000 万元（含）。 回购股份的价格为不超过人民币 26.00 元/股，若按照回购股份价格上限 26.00 元/股测算， 本次回购股份数量区间为 769,230 股至 1,538,461 股，占公司目前总股本比例的区间为 0.4160%至 0.8321%。具体回购数量以回购期满或回购完成时实际回购的股份数量为准。回 购股份实施期限为自公司董事会 ...

Core Viewpoint - Yiyi Co., Ltd. experienced a 5.02% decline in stock price, trading at 29.14 CNY per share, with a total market capitalization of 5.388 billion CNY as of the report date [1]. Company Overview - Yiyi Co., Ltd. is located in the Zhangjiawo Industrial Zone of Xiqing District, Tianjin, and was established on May 10, 1990. The company was listed on May 18, 2021. Its main business involves the research, production, and sale of disposable hygiene products and non-woven fabrics [1]. - The revenue composition of Yiyi Co., Ltd. is as follows: 93.91% from pet disposable hygiene products, 4.85% from non-woven fabrics, 1.01% from personal disposable hygiene products, and 0.24% from other sources [1]. Fund Holdings - According to data, the Tongtai Fund has a significant holding in Yiyi Co., Ltd. The Tongtai Huize Mixed A Fund (008050) held 47,800 shares in the third quarter, accounting for 8.49% of the fund's net value, making it the fourth-largest holding [2]. - The Tongtai Huize Mixed A Fund was established on November 20, 2019, with a current size of 9.852 million CNY. Year-to-date returns are 2.43%, ranking 7560 out of 8223 in its category; over the past year, returns are 7.93%, ranking 6354 out of 8115; since inception, the fund has experienced a loss of 33.44% [2]. - The fund managers, Ma Yi and Mai Jianpei, have tenures of 11 years and 176 days, respectively. Ma Yi manages assets totaling 2.718 billion CNY, with the best return during his tenure being 43.7% and the worst being -0.63%. Mai Jianpei manages 231 million CNY, with the best return of 22.27% and the worst of -0.55% [2].

Core Insights - The domestic pet industry is experiencing significant performance differentiation among listed companies as they report their Q3 2025 results, driven by the rise of private brands and global capacity layout amidst increasing competition and cost pressures [1][4] Revenue Performance - Guibao Pet (301498) and Zhongchong Co. (002891) lead the industry with Q3 revenues of 4.737 billion and 3.86 billion respectively, showing year-on-year growth of 29.03% and 21.05% [3] - Yuanfei Pet (001222) reported a revenue of 1.281 billion, with a notable growth rate of 37.66% [3] - In contrast, Petty Co. (300673) faced a revenue decline of 17.68% due to reduced overseas orders and domestic agency business adjustments, while Yiyi Co. (001206) saw a slight revenue decrease of 0.72% but managed to improve profits through cost control and product structure optimization [3] Profitability Challenges - Despite revenue growth, many companies are facing pressure on profit margins, with Guibao Pet's net profit down 16.6% and Zhongchong Co.'s net profit decreasing by 6.64% in Q3 [5] - Petty Co. experienced a nearly 40% drop in net profit, highlighting the broader trend of increasing costs outpacing revenue growth [5][6] Strategic Focus on Domestic Market - Companies are prioritizing the domestic market as a core strategic focus, increasing marketing investments, expanding brand portfolios, and enhancing channel development to capture consumer attention [7] - Yiyi Co. plans to acquire the "Gao Ye Jia" cat food and litter brand to quickly gain mature domestic brand operation capabilities and market share [7] Growth of Private Brands - The rapid growth of private brands is driving performance increases for pet companies, with Guibao Pet's high-end sub-brand "Fuleijiate" achieving over 100% year-on-year growth in online sales [9] - Zhongchong Co.'s domestic private brand growth is around 35%-40%, with its staple food business growing by 85.79% [9][10] Global Capacity Layout - Leading pet companies are accelerating their global capacity layout, particularly in Southeast Asia, to create a more resilient and efficient global supply chain [11] - Yuanfei Pet has established a dual-core capacity structure in "domestic + Southeast Asia," with its Cambodian factory nearing full production [11] - Petty Co. plans to expand its Southeast Asia factory capacity by approximately 5,000 tons over the next two years [11]

Group 1 - The company, Tianjin Yiyi Hygiene Products Co., Ltd., has signed a partnership agreement with Beijing Fangyuan Jinding Investment Management Co., Ltd. to jointly invest in the Qiongqing City Jintan Venture Capital Partnership, with a total fund size of 156.54 million RMB [1] - The company will contribute 70.20 million RMB, accounting for 44.8448% of the partnership [1] - The partnership has completed the necessary registration with the Asset Management Association of China and received the Private Investment Fund Registration Certificate on October 30, 2025 [2] Group 2 - The fund is managed by Beijing Fangyuan Jinding Investment Management Co., Ltd. and is custodied by Shanghai Pudong Development Bank Co., Ltd. [2] - The company will fulfill its information disclosure obligations regarding the partnership's future developments in accordance with relevant laws and regulations [2]

Core Points - Company Yi Yi Co., Ltd. announced a partnership with Beijing Fangyuan Jinding Investment Management Co., Ltd. to jointly invest in the Qiongqing City Jintan Venture Capital Partnership [2] - The total planned scale of the fund is 156.54 million RMB, with Yi Yi Co., Ltd. contributing 70.20 million RMB, representing a 44.8448% share in the partnership [2] - The partnership has completed the necessary registration procedures with the Asset Management Association of China and has obtained the Private Investment Fund Registration Certificate [2]

证券代码：001206 证券简称：依依股份 公告编号：2025-071 天津市依依卫生用品股份有限公司 关于与专业投资机构共同投资合伙企业备案完成的公告 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。 特此公告。 基金名称：共青城金谈创业投资合伙企业（有限合伙） 备案编码：SBHY41 管理人名称：北京方圆金鼎投资管理有限公司 一、对外投资概述 托管人名称：上海浦东发展银行股份有限公司 天津市依依卫生用品股份有限公司（以下简称"公司"）与北京方圆金鼎投 资管理有限公司（以下简称"方圆金鼎"）于2025年10月16日签署了《北京方圆 金鼎投资管理有限公司（作为普通合伙人）与所有有限合伙人之共青城金谈创业 投资合伙企业（有限合伙）合伙协议》（以下简称"合伙协议"）和《共青城金谈 创业投资合伙企业（有限合伙）合伙协议之补充协议》（以下简称"补充协议"）， 约定共同投资共青城金谈创业投资合伙企业（有限合伙）（以下简称"合伙企业"）。 该基金计划总规模为15,654.00万元人民币，公司作为有限合伙人拟出资7,020.00 万元人民币，占合伙企业44.8448%份额。具 ...