人民财讯12月9日电，莱茵生物（002166）12月9日公告，公司控股股东、实际控制人秦本军正在筹划公 司控制权变更事宜，拟向交易对手方广州德福营养投资合伙企业(有限合伙)(简称"广州德福营养")协议 转让其持有的部分公司股份并放弃其持有的部分公司股份表决权。同时，公司拟以发行股份及支付现金 方式购买北京金康普食品科技有限公司至少80%股权，同时向广州德福营养发行股份募集配套资金。公 司股票自12月10日开市时起开始停牌，预计连续停牌时间不超过10个交易日。 ...

桂林莱茵生物科技股份有限公司 证券代码：002166 证券简称：莱茵生物 公告编号：2025-072 （一）筹划控制权变更事项 桂林莱茵生物科技股份有限公司（以下简称"公司"）于 2025 年 12 月 8 日收 到控股股东、实际控制人秦本军先生的通知，秦本军先生正在筹划公司控制权变更 事宜，拟向交易对手方协议转让其持有的部分公司股份并放弃其持有的部分公司股 份表决权。目前相关各方已就该事项签署了《控制权变更意向协议》，具体交易方 案、协议条款等尚需进一步论证和磋商，届时将以各方签订的正式交易协议为准， 上述事项可能导致公司控股股东及实际控制人发生变更。本次权益变动尚需履行协 议转让相关程序。 桂林莱茵生物科技股份有限公司 关于筹划控制权变更、发行股份及支付现金购买资产 并募集配套资金事项的停牌公告 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。 重要内容提示： 1、公司股票自 2025 年 12 月 10 日开市起停牌，预计停牌时间不超过 10 个交易 日； 2、公司控制权变更、发行股份及支付现金购买资产并募集配套资金事项目前处 于筹划阶段，尚存在重大不确定 ...

莱茵生物公告称，公司于12月8日收到控股股东秦本军通知，其正筹划控权变更，拟向广州德福营养协 议转让部分股份并放弃部分表决权，已签意向协议。同时，公司拟发行股份及付现购买北京金康普至少 80%股权，向广州德福营养募资。交易或构成关联交易。因事项存不确定性，公司股票自2025年12月开 市起停牌，预计不超10个交易日，最晚于12月24日前复牌。 ...

Core Insights - The avian influenza concept sector experienced a decline of 0.76%, ranking among the top losers in the market, with major stocks like Zhongsheng Pharmaceutical hitting the limit down, while a few stocks like Wens Foodstuff and Weilan Biology saw gains of 1.80% each [1][2] Market Performance - The top-performing concept sectors included Titanium Dioxide with a gain of 4.31%, and Hainan Free Trade Zone with a gain of 3.54%, while the avian influenza sector was among the worst performers [1] - The avian influenza sector saw a net outflow of 784 million yuan, with 18 stocks experiencing net outflows, led by Zhongsheng Pharmaceutical with a net outflow of 684 million yuan [1] Stock Performance - Stocks with significant net outflows included: - Zhongsheng Pharmaceutical: -10.00% with a turnover rate of 18.78% and a net outflow of 683.65 million yuan - Yiling Pharmaceutical: -2.40% with a net outflow of 35.71 million yuan - Lianhuan Pharmaceutical: -1.79% with a net outflow of 25.69 million yuan - Hualan Biological: -6.60% with a net outflow of 18.13 million yuan [1] - Conversely, stocks with net inflows included: - Tiankang Biological: +1.26% with a net inflow of 16.52 million yuan - Shanghai Kaibao: -1.70% with a net inflow of 5.06 million yuan - Jinhai Biological: +0.16% with a net inflow of 3.82 million yuan [2]

Group 1 - The company, 莱茵生物, confirmed that the plant extract, 莽草酸, is one of the raw materials for the production of the antiviral drug, 奥司他韦 [2] - The company has mastered the complete extraction process of 莽草酸 and maintains a certain level of inventory to respond to market demand [2]

Core Viewpoint - Rhein Biotech (002166.SZ) has confirmed its capability to produce the plant extract, shikimic acid, which is a key raw material for the antiviral drug oseltamivir, and the company has sufficient inventory to meet market demand [1] Group 1 - Rhein Biotech possesses the complete extraction process for shikimic acid [1] - The company is prepared to respond to market demand at any time due to its existing stock [1]

Group 1: Core Insights - The financing of listed companies in the sugar substitute industry primarily aims to enhance production capacity [1] - The majority of external investments by representative companies focus on expanding upstream and downstream operations [1][6] Group 2: Financing and Investment - The main financing methods for listed companies include IPOs, private placements, and convertible bonds, with a focus on new projects and capacity enhancement [1] - Notable external investments include significant amounts such as 100 million RMB by Sanyuan Bio and 10 million RMB by Hainan Baolijian [2][3][4] Group 3: Industry Parks and Development - The number of sugar substitute industrial parks in China is limited, with major parks located in Shandong, which is recognized as a global production base [7][8] - The Dezhou High-tech Zone in Shandong has a production capacity of 1.5 million tons and a domestic market share of over 70% [8] Group 4: Mergers and Acquisitions - Recent mergers and acquisitions in the sugar substitute industry are primarily driven by midstream companies seeking to expand scale and secure upstream resources [9][12] - Key acquisitions include Huakang's purchase of Henan Yuxin Sugar Alcohol Co. for 1.098 billion RMB, aimed at increasing market share [12]

Core Viewpoint - On November 21, a total of 10 listed companies will have their restricted shares unlocked, with a total market value of approximately 737 million yuan [1] Summary by Category Restricted Share Unlocking Details - The companies and their respective restricted share unlocking details are as follows: - Ice Wheel Environment (Stock Code: 000811) - 220,000 shares from equity incentive [1] - Guangji Pharmaceutical (Stock Code: 000952) - 437,400 shares from equity incentive [1] - Nanjing Pharmaceutical (Stock Code: 600713) - 493,000 shares from equity incentive [1] - Rhine Biology (Stock Code: 002166) - 3,371,500 shares from equity incentive [1] - Dawei Co., Ltd. (Stock Code: 002213) - 83,900 shares from equity incentive [1] - Anke Bio (Stock Code: 300009) - 1,784,400 shares from equity incentive [1] - Qingxin Environment (Stock Code: 002573) - 828,000 shares from equity incentive [1] - Junhe Co., Ltd. (Stock Code: 603617) - 2,490,000 shares from equity incentive [1] - Jingquan Hua (Stock Code: 002885) - 230,100 shares from equity incentive [1] - Matrix Co., Ltd. (Stock Code: 301365) - 55,032,400 shares from pre-issue restrictions [1]

Core Insights - The trend of young consumers moving away from "sugar-free" products is evident, with a noticeable slowdown in the growth of sugar-free tea sales and a decline in the popularity of sugar substitutes [5][12][14] Industry Overview - Sugar-free tea sales growth has significantly decreased, with sales growth rates from April to September 2023 being 3.9%, 7%, 19.9%, 19.5%, 8.5%, and 6.3%, all lower than the same periods in the previous year [2] - The average price of sugar-free tea has been on the rise, increasing from 5.1 yuan per piece in 2023 to 5.6 yuan per piece by 2025, indicating that despite higher prices, total sales growth is slowing [2] - The market is dominated by established brands like Nongfu Spring and Suntory, which together hold 87.3% market share as of September 2023, up 6.4% from the previous year [7] - The second-tier brands' market share has decreased from 11.3% to 7.4%, while the third-tier brands' share has shrunk from 5.1% to 3.4%, highlighting the intensifying head effect in the industry [7][9] Consumer Behavior - The shift in consumer preferences indicates that the younger generation is moving away from extreme health consciousness towards a more indulgent lifestyle, seeking comfort in sugary beverages [5][12] - The demand for sugar substitutes, particularly erythritol, has also faced challenges, with a reported oversupply in the market as of May 2023, where domestic production capacity reached 380,000 tons per year against a global demand of only 173,000 tons [2][14] Product Innovation - There has been a lack of new hit products in the sugar-free tea market, with established products like unsweetened oolong and jasmine tea dominating nearly 70% of the market share [9] - The innovation in the sugar-free tea sector has stagnated, with brands focusing on minor innovations around existing products rather than developing new ones, leading to potential homogenization and price competition [9][11] - In contrast, the sugary tea segment has seen a surge in new product launches, with sugary tea products outnumbering sugar-free tea products significantly in recent months [10] Supplier Challenges - Suppliers of sugar substitutes are experiencing significant operational pressures, with major companies like San Yuan Bio reporting a 7.54% decline in total revenue and a 16.8% drop in net profit for the first three quarters of the year [14][19] - The industry is facing a broader trend of declining demand, leading to increased competition and financial strain on suppliers, many of whom are exploring alternative products and markets to mitigate losses [17][19]

Core Viewpoint - The company has approved the unlocking of 3.354 million shares of restricted stock for 67 eligible incentive recipients, which represents 0.45% of the total share capital of 741.609425 million shares, with the listing date set for November 21, 2025 [2][13]. Group 1: Stock Incentive Plan Details - The board of directors confirmed that the conditions for the third unlocking period of the restricted stock incentive plan have been met, allowing for the release of shares [3][10]. - The initial grant of restricted stock was completed on November 21, 2022, and the third unlocking period will end on November 20, 2025 [9][10]. - The total number of restricted shares granted in the initial plan was 11.3976 million shares at a price of 5.66 yuan per share, with 70 recipients [5][11]. Group 2: Approval Process and Compliance - The company followed all necessary approval procedures for the stock incentive plan, including independent opinions from directors and legal advice from Beijing Deheng Law Firm [4][5]. - The company conducted a self-examination regarding insider trading related to the stock incentive plan and reported the findings [5]. Group 3: Adjustments and Changes - The repurchase price for the restricted stock was adjusted from 5.66 yuan to 5.56 yuan due to the completion of the 2022 annual equity distribution plan [11][12]. - The company has also approved the repurchase and cancellation of restricted stocks for recipients who have left the company [12].