Market Overview - The Chongqing state-owned enterprise reform sector declined by 0.7% compared to the previous trading day, with Chongqing Pharmaceutical Holdings leading the decline [1] - The Shanghai Composite Index closed at 4128.37, up 0.13%, while the Shenzhen Component Index closed at 14210.63, up 0.02% [1] Stock Performance - Notable stock performances include: - Shanghai Sanmao (600689) closed at 14.29, up 0.78% with a trading volume of 30,300 shares and a turnover of 43.27 million yuan - Chongqing Construction (600939) closed at 3.23, up 0.31% with a trading volume of 133,800 shares and a turnover of 43.05 million yuan - Chongqing Pharmaceutical Holdings (000950) closed at 5.90, down 1.83% with a trading volume of 366,700 shares and a turnover of 218 million yuan [1][2] Capital Flow - The Chongqing state-owned enterprise reform sector experienced a net outflow of 119 million yuan from institutional investors, while retail investors saw a net inflow of 62.65 million yuan [2] - The capital flow for individual stocks shows: - Jieling Pickled Vegetables (002507) had a net inflow of 5.71 million yuan from institutional investors, but a net outflow of 13.01 million yuan from retail investors [3] - Chongqing Water (601158) had a net outflow of 3.40 million yuan from institutional investors, with a net inflow of 1.18 million yuan from retail investors [3]

Summary of the Conference Call for Dengkang Oral Care Company Overview - **Company**: Dengkang Oral Care - **Industry**: Oral Care Products Key Points Strategic Direction - The strategic tone for 2026 is "steady progress" with a focus on optimizing profitability through adjustments in e-commerce platform allocations [2][6][10] - Plans to reduce reliance on Douyin (TikTok) from over 40% to below 40%, maintain Tmall at around 30%, and increase JD's share to over 20% [2][5][7][10] E-commerce Performance - As of early 2026, overall profit margins across e-commerce platforms are stable at approximately 5-6%, with JD performing the best, followed by Tmall, and Douyin slightly below average [2][5][7] - The company aims to enhance profitability by reallocating resources to higher-margin platforms [5][16] Product Strategy - Dengkang is focusing on product premiumization, targeting an increase in ultra-high-end products (priced above 30 RMB) from 20% to around 30% of total sales [2][11][12] - The new keratin toothpaste launched in August 2025 has monthly sales exceeding 10 million RMB, with a target of 20-30 million RMB per month in 2026 [2][13] Market Trends and Challenges - The overall industry remains challenging, with many emerging brands operating at a loss, particularly on platforms like Douyin [9][21] - Despite a general decline in the oral care market, Dengkang has achieved nearly double-digit growth, contrasting with an industry decline of about 8% [21][22] Future Plans - 2026 is designated as the year for overseas market expansion, particularly in Southeast Asia, with a sales target of several million RMB [5][18] - The company plans to implement a three-step strategy for international expansion: brand establishment, building offline channels, and supply chain development [5][18] Manufacturing and Supply Chain - Dengkang employs a light asset operation model, outsourcing lower-end product manufacturing while maintaining high-end production in-house [19] - The inventory cycle is currently 30-40 days, significantly shorter than the industry average of 90-120 days, indicating efficient inventory management [16] Investment and Growth Areas - Future investments will focus on the oral health ecosystem, including smart oral care and digital transformation [24][25] - The company is also exploring mergers and acquisitions to enhance growth potential in the oral care sector [24] Shareholder Actions - Shareholder reduction plans are based on individual decisions, with expectations for future stock price growth influencing timing [26] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Dengkang Oral Care's focus on profitability, product premiumization, and market expansion.

Investment Rating - The report assigns an "Accumulate" rating for the cosmetics industry, indicating a positive outlook for selected companies within the sector [5]. Core Insights - The beauty industry is expected to maintain steady growth in 2026, driven by product innovation and the rising trend of domestic brands. The report suggests a bottom-up selection of high-growth products and brands with strong potential, as well as companies that exhibit resilience amid product and channel changes [2][5]. Summary by Sections Industry Overview - The report highlights that the cosmetics sales during the off-peak season have shown marginal improvement. It suggests focusing on products and brands with strong growth momentum and resilience in the face of changing product and channel dynamics [2]. Key Investment Points - The report identifies two main lines of investment: 1. **High-Growth Companies**: Companies like RuYuchen, BeiJiaJie, MaoGePing, LinQingXuan, and ShangMei are expected to perform well due to strong fundamentals and product innovation [5]. 2. **Brands with Strong Asset Value**: Companies such as BeiTaiNi and PoLaiYa are anticipated to see marginal improvements following adjustments in their channels and product structures [5]. Market Performance - According to data from the National Bureau of Statistics, the retail sales of cosmetics in December 2025 grew by 8.8% year-on-year, significantly outpacing the overall retail growth of 0.9%. The annual retail sales for cosmetics in 2025 reached 465.3 billion yuan, reflecting a 5.1% year-on-year increase [5]. Company Valuations - The report provides a valuation table for key companies, indicating their earnings per share (EPS) and price-to-earnings (PE) ratios for 2025E, 2026E, and 2027E. For instance, RuYuchen has an EPS of 0.59 yuan for 2025E with a PE of 60, while BeiTaiNi has an EPS of 1.10 yuan for 2025E with a PE of 43 [7].

Group 1 - A total of 7 companies had their restricted shares unlocked on February 6, with a combined unlock volume of 33.61 million shares, translating to a total unlock market value of 5.243 billion yuan based on the latest closing price [1] - The companies with the highest unlock volumes are Xinghuan Technology-U, Dengkang Dental, and Hansan Technology, with unlock share numbers of 27.16 million, 2.99 million, and 1.52 million shares respectively [1] - In terms of unlock market value, Xinghuan Technology-U, Dengkang Dental, and Hansan Technology also lead, with unlock market values of 4.985 billion yuan, 130 million yuan, and 8.616 million yuan respectively [1] Group 2 - The unlock share ratio relative to total share capital is highest for Xinghuan Technology-U, Dengkang Dental, and Hansan Technology, with ratios of 22.42%, 1.74%, and 1.18% respectively [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 二、申请解除股份限售股东履行承诺情况 1.本次申请解除股份限售的股东重庆百货在《首次公开发行股票上市公告书》（以下简称"《上市公告 书》"）中作出的承诺情况如下： 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。 特别提示： （一）本次解除限售的股份为重庆登康口腔护理用品股份有限公司（以下简称"登康口腔"或"公 司"或"发行人"）首次公开发行前限售股； （二）本次解除股份限售的股东户数为1名，即：重庆百货大楼股份有限公司（以下简称"重庆百 货"），解除限售股份数量为2,987,700股，占公司总股本的1.74%； （三）本次解除限售股份上市流通日期为2026年2月6日（星期五）。 一、首次公开发行前已发行股份概况 经中国证券监督管理委员会《关于同意重庆登康口腔护理用品股份有限公司首次公开发行股票注册的批 复》（证监许可〔2023〕585号）核准，并经深圳证券交易所《关于重庆登康口腔护理用品股份有限公 司人民币普通股股票上市的通知》（深证上〔2023〕278号）同意，公司首次公开发行人民币普通股股 票（A股）43, ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：001328 证券简称：登康口腔 公告编号：2026-006 重庆登康口腔护理用品股份有限公司 关于部分首次公开发行前限售股份上市流通的提示性公告 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。 特别提示： （一）本次解除限售的股份为重庆登康口腔护理用品股份有限公司（以下简称"登康口腔"或"公 司"或"发行人"）首次公开发行前限售股； （二）本次解除股份限售的股东户数为1名，即：重庆百货大楼股份有限公司（以下简称"重庆百 货"），解除限售股份数量为2,987,700股，占公司总股本的1.74%； （三）本次解除限售股份上市流通日期为2026年2月6日（星期五）。 一、首次公开发行前已发行股份概况 二、申请解除股份限售股东履行承诺情况 1.本次申请解除股份限售的股东重庆百货在《首次公开发行股票上市公告书》（以下简称"《上市公告 书》"）中作出的承诺情况如下： ■ 经中国证券监督管理委员会《关于同意重庆登康口腔护理用品股份有限公司首次公开发行股票注册的批 复》（证监许可〔2023〕585号）核准，并经深圳 ...

证券代码：001328 证券简称：登康口腔 公告编号：2026-006 重庆登康口腔护理用品股份有限公司 关于部分首次公开发行前限售股份上市流通的提示性公告 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。 特别提示： （一）本次解除限售的股份为重庆登康口腔护理用品股份有限公司（以下简称"登 康口腔"或"公司"或"发行人"）首次公开发行前限售股； （二）本次解除股份限售的股东户数为1名，即：重庆百货大楼股份有限公司（以 下简称"重庆百货"），解除限售股份数量为2,987,700股，占公司总股本的1.74%； （三）本次解除限售股份上市流通日期为2026年2月6日（星期五）。 一、首次公开发行前已发行股份概况 经中国证券监督管理委员会《关于同意重庆登康口腔护理用品股份有限公司首次 公开发行股票注册的批复》（证监许可〔2023〕585号）核准，并经深圳证券交易所 《关于重庆登康口腔护理用品股份有限公司人民币普通股股票上市的通知》（深证上 〔2023〕278号）同意，公司首次公开发行人民币普通股股票（A股）43,043,500股，并 于2023年4月10日在深圳证券交 ...

中信建投证券股份有限公司 经中国证券监督管理委员会《关于同意重庆登康口腔护理用品股份有限公司 首次公开发行股票注册的批复》（证监许可〔2023〕585 号）核准，并经深圳证 券交易所《关于重庆登康口腔护理用品股份有限公司人民币普通股股票上市的通 知》（深证上〔2023〕278 号）同意，公司首次公开发行人民币普通股股票（A 股）43,043,500 股，并于 2023 年 4 月 10 日在深圳证券交易所主板上市。首次公 开发行前总股本为 129,130,300 股，首次公开发行股票完成后，公司总股本为 172,173,800 股。 截至本核查意见出具之日，公司总股本为 172,173,800 股，尚未解除限售的 股份数量为 129,130,300 股。 自首次公开发行前限售股形成至本核查意见出具之日，公司未发生因股份增 发、回购注销、派发股份股利或资本公积金转增股本等导致公司股本总额变动的 情形。 二、申请解除股份限售股东履行承诺情况 本次申请解除股份限售的股东重庆百货大楼股份有限公司（以下简称"重庆 百货"）在《首次公开发行股票上市公告书》（以下简称"《上市公告书》"）中作 1 出的承诺情况如下： 关于重 ...

Market Overview - The personal care products sector experienced a decline of 1.23% on February 2, with Yanjiang Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 4015.75, down 2.48%, while the Shenzhen Component Index closed at 13824.35, down 2.69% [1] Stock Performance - Notable gainers in the personal care sector included: - Beijiajie (603059) with a closing price of 38.70, up 3.78% on a trading volume of 80,800 shares and a transaction value of 308 million yuan [1] - Zhiya Co., Ltd. (003006) closed at 21.34, up 2.99% with a trading volume of 86,300 shares and a transaction value of 184 million yuan [1] - Dengkang Oral (001328) closed at 40.88, up 2.58% with a trading volume of 31,500 shares and a transaction value of 129 million yuan [1] - Major decliners included: - Yanjiang Co., Ltd. (300658) closed at 15.81, down 12.17% with a trading volume of 418,300 shares and a transaction value of 686 million yuan [2] - Zhongshun Jiesang (002511) closed at 7.92, down 2.82% with a trading volume of 277,300 shares and a transaction value of 223 million yuan [2] Capital Flow - The personal care products sector saw a net outflow of 114 million yuan from institutional investors, while retail investors experienced a net inflow of 28.68 million yuan [2] - The capital flow for key stocks in the sector included: - Haoyue Nursing (605009) had a net inflow of 2.75 million yuan from institutional investors, but a net outflow of 2.32 million yuan from retail investors [3] - Beijiajie (603059) saw a net inflow of 2.44 million yuan from institutional investors and a net outflow of 17.41 million yuan from retail investors [3] - Yanjiang Co., Ltd. (300658) experienced a significant net outflow of 13.22 million yuan from institutional investors [3]

华宝宝康消费品混合（240001）成立日期2003年7月15日，最新规模7.57亿。今年以来收益0.37%，同类 排名8219/9000；近一年收益1.94%，同类排名7841/8193；成立以来收益1049.69%。 华宝宝康消费品混合（240001）基金经理为汤慧。 截至发稿，汤慧累计任职时间6年153天，现任基金资产总规模12.96亿元，任职期间最佳基金回报 164.58%， 任职期间最差基金回报-30.5%。 从基金十大重仓股角度 2月2日，登康口腔涨5.14%，截至发稿，报41.90元/股，成交7217.53万元，换手率4.13%，总市值72.14 亿元。 资料显示，重庆登康口腔护理用品股份有限公司位于重庆市江北区海尔路389号，成立日期2001年12月 14日，上市日期2023年4月10日，公司主营业务涉及从事口腔护理用品的研发、生产与销售。主营业务 收入构成为：成人牙膏80.43%，成人牙刷9.90%，儿童牙膏4.54%，口腔医疗与美容护理产品等2.44%， 儿童牙刷1.76%，电动牙刷0.81%，其他(补充)0.11%。 从登康口腔十大流通股东角度 数据显示，华宝基金旗下1只基金位居登康口腔十 ...