Core Insights - Qing Song Co., Ltd. reported a net profit increase of over 100% year-on-year for 2024, despite a slight decline in revenue [3] - The company's total revenue for the year was approximately 1.94 billion yuan, representing a year-on-year decrease of 1.51% [3] - The net profit attributable to shareholders reached 54.68 million yuan, showing a significant year-on-year growth of 180.02% [3] Executive Compensation - Vice President and Board Secretary Luo Qihui's salary remained unchanged for four consecutive years at 1.185 million yuan, which is lower than other executives [3] - Other executives' salaries include Chairman Fan Zhanhua at 1.222 million yuan, Vice President Lin Yuecong at 1.6054 million yuan, and Executive Vice President Ouyang Ruzheng at 1.383 million yuan [3] - Luo Qihui's salary has been stable since 2020, while Lin Yuecong's salary has shown a year-on-year increase from 2021 to 2024 [3] Regulatory Issues - In December 2023, Qing Song Co., Ltd. received a warning from the Fujian Securities Regulatory Bureau for using evaluation data in disclosure documents without obtaining a formal assessment report [4] - Luo Qihui, as the then Vice President and Board Secretary, was warned alongside Chairman Fan Zhanhua for this violation [4]

Core Viewpoint - Fujian Qingsong Co., Ltd. has completed the registration change and amendment of its Articles of Association, reflecting its new registered address and updated corporate governance structure [1]. Group 1: Company Information - The company held its 13th meeting of the 5th Board of Directors on April 26, 2025, and the annual shareholders' meeting on May 30, 2025, to approve the change of registered address and the corresponding amendments to the Articles of Association [1]. - The company has completed the relevant industrial and commercial registration changes and has obtained a new business license from the Nanping Market Supervision Administration [1]. - The new registered address is located at Room 209, Building 2, Wuyi Yue Hotel Community, No. 515, Chang'an Road, Jianyang District, Nanping City, Fujian Province [1]. Group 2: Corporate Details - The company is a publicly listed joint-stock company with a registered capital of 516,580,886 CNY [1]. - The legal representative of the company is Fan Zhanhua [1]. - The business scope includes investment activities, wholesale and retail of cosmetics, sales of disinfectants (excluding hazardous chemicals), sales of sanitary products and disposable medical supplies, sales of daily chemical products, research and development of bio-chemical products, sales of maternal and infant products, and sales of industrial textile products [1].

关于完成工商变更登记并换发营业执照的公告 证券代码：300132 证券简称：青松股份 公告编号：2025-020 福建青松股份有限公司 关于完成工商变更登记并换发营业执照的公告 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。 福建青松股份有限公司（以下简称"公司"）于 2025 年 4 月 26 日召开第五 届董事会第十三次会议，2025 年 5 月 30 日召开 2024 年度股东大会，审议通过 了《关于变更注册地址及修订<公司章程>的议案》，同意变更公司注册地址并对 《公司章程》相应条款进行修订，具体内容详见公司于 2025 年 4 月 29 在巨潮资 讯网（www.cninfo.com.cn）披露的《关于拟变更注册地址及修订<公司章程>的 公告》（公告编号：2025-014）及修订后的《公司章程》。 近日，公司已完成了相关工商变更登记及《公司章程》的备案手续，并取得 了南平市市场监督管理局换发的《营业执照》，具体登记信息如下： 名称：福建青松股份有限公司 统一社会信用代码：913500007264402916 类型：股份有限公司（上市） 法定代表人：范展 ...

Market Overview - The Shanghai Composite Index rose by 0.01% on June 12, with 15 sectors experiencing gains, led by non-ferrous metals and media, which increased by 1.40% and 1.33% respectively. The beauty and personal care sector ranked third in terms of gains [1] - Conversely, the household appliances and coal sectors saw declines of 1.77% and 1.14% respectively [1] Capital Flow Analysis - The main capital flow showed a net outflow of 10.588 billion yuan across the two markets, with 9 sectors experiencing net inflows. The pharmaceutical and biological sector led with a net inflow of 1.101 billion yuan and a rise of 1.27% [1] - The banking sector followed with a net inflow of 988 million yuan and a daily increase of 0.30% [1] - In contrast, 22 sectors faced net outflows, with the electronics sector leading at a net outflow of 2.225 billion yuan, followed by the automotive sector with a net outflow of 1.625 billion yuan [1] Beauty and Personal Care Sector Performance - The beauty and personal care sector increased by 1.31% despite a net outflow of 23.2635 million yuan. Out of 31 stocks in this sector, 21 rose, with 3 hitting the daily limit [2] - Notably, 16 stocks in this sector experienced net inflows, with 8 stocks seeing inflows exceeding 10 million yuan. The top inflow was from Huaye Fragrance, with an inflow of 82.6055 million yuan, followed by Lafang Family and Nobon Co., with inflows of 63.4705 million yuan and 45.3670 million yuan respectively [2] - Conversely, 6 stocks faced net outflows exceeding 10 million yuan, with the highest outflow from Furida at 113 million yuan, followed by Qingsong Co. and Qingdao King at 63.204 million yuan and 28.0292 million yuan respectively [2] Individual Stock Performance in Beauty and Personal Care - The following stocks had significant movements: - Huaye Fragrance: +19.99%, inflow of 82.6055 million yuan [3] - Lafang Family: +9.98%, inflow of 63.4705 million yuan [3] - Nobon Co.: +9.99%, inflow of 45.3670 million yuan [3] - Furida: -2.04%, outflow of 113.3322 million yuan [3] - Qingsong Co.: +6.22%, outflow of 63.204 million yuan [3]

Group 1 - The cosmetics sector is experiencing a rise, with companies such as Lafang Home (603630) and Huaye Fragrance (300886) hitting the daily limit up [1] - Other companies in the sector, including Jiaheng Home (300955), Shuiyang Co. (300740), Kesi Co. (300856), Qingsong Co. (300132), and Fulejia (301371), are also seeing significant increases in their stock prices [1] - There is a notable influx of dark pool capital into these stocks, indicating strong investor interest [1]

Core Viewpoint - The current facial mask market is characterized by a dichotomy, with increasing consumer demand for diversification and refinement, contrasted by intense competition leading to product homogenization and declining consumer trust [1][2][4] Market Overview - The global facial mask market is projected to reach a scale of 181.5 billion yuan, with the Chinese market expected to reach 76.79 billion yuan by 2025 [6][8] - The market is driven by three main factors: consumption upgrades, the rise of the male skincare market, and the emergence of personalized demands [9] Product Structure - Sheet masks remain the mainstream product, accounting for approximately 70% of the market share, while cream masks are emerging as a new growth area [10][14] - By 2030, the market size for sheet masks is expected to reach between 90.3 billion and 95.2 billion yuan, while cream masks are projected to reach between 48.6 billion and 51.2 billion yuan [14] Efficacy Trends - Key efficacy demands include hydration, repair, and tightening, with natural ingredients seeing a significant increase in consumer interest, particularly a 3823.87% rise in discussions around Dendrobium [15][19] - The top efficacy sales for sheet masks include hydration (29%) and repair (17%), while cream masks focus on hydration (19%) and cleansing (11%) [17][18] Technological Innovations - Four major technological advancements are identified as barriers to entry: D-phase emulsification, fresh-dry technology, freeze-drying technology, and nano-soluble technology [20][21] - The evolution of mask fabric has transformed it from a mere carrier to a core efficacy component, with innovations in plant fiber and ultrasonic composite fabrics showing significant growth [22] Product Trends - The report identifies four potential mask types that will reshape user experience: instant, intensive, precise, and experiential masks [23] - Notable growth in demand for water-oil dual nourishment masks, cream masks, and other innovative forms has been observed, with increases of 672.3%, 1236.2%, and 670.4% respectively [23] Strategic Insights - The "Mask Trend Report" serves as a strategic reference for industry players, providing insights into market dynamics and consumer preferences [26][27] - The report emphasizes the shift from OEM thinking to co-creation in the industry, highlighting the importance of shared innovation for market advancement [30][27] Company Innovations - The company has introduced two new series of masks: "Water-Oil Dual Nourishment" and "Precise Area Care," showcasing its commitment to innovation in product form and efficacy [32][34] - Continuous collaboration with academic institutions and research organizations has led to the development of numerous patented technologies, enhancing product efficacy and user experience [38]

Core Viewpoint - The cosmetics retail sales in China for January to April 2025 showed a year-on-year increase of 4%, underperforming the overall retail market by 0.7 percentage points, but this represents an improvement compared to 2024. The industry is characterized by four key trends: innovation in personal care products, breakthroughs in ingredient technology, rising emotional consumption, and the continuation of affordable consumption [1][3]. Investment Recommendations - The company recommends increasing holdings in the personal care sector, highlighting quality companies that benefit from product innovation and opportunities in Douyin channels, with key recommendations including Ruoyuchen (003010), Dengkang Oral (001328), and Runben Co. [2] - In the beauty sector, structural opportunities are identified, with key recommendations for companies like Jinbo Biological, Juzi Biological, and Marubi Co. that are positioned to benefit from the collagen restructuring trend. Additionally, brands like Maogeping, Shumei Co., Proya (603605), and Shanghai Jahwa (600315) are expected to gain from the overall increase in domestic market share [2]. - Companies expected to bottom out and potentially see a turning point include Lafang Household (603630), Shuiyang Co. (300740), Betaini (300957), Furuida (600223), Huaxi Biological, Fulejia (301371), Meilitiantian Medical Health, and Qingsong Co. (300132) [2]. Industry Overview - Demand remains stable, with the rise of domestic brands in the beauty and personal care sectors accelerating. The cosmetics retail sales for January to April 2025 increased by 4% year-on-year, which is a 0.7 percentage point underperformance compared to the overall retail market, but shows improvement from 2024. The overall demand is stable, with leading domestic brands performing well and the rise of new domestic brands spreading from beauty to personal care categories [3][4]. Trends - The industry is witnessing several trends: 1) Personal care transformation with new products in traditional categories, supported by content e-commerce creating a favorable environment for new product launches [4]. 2) Ingredient innovation, particularly in collagen restructuring, with various types and structural innovations expanding application scenarios [4]. 3) Emotional consumption, where cultural, stylistic, and experiential demands are driving the growth of domestic trends in cosmetics and fragrances [4]. 4) Affordable consumption, where the trend for cost-effectiveness continues under supply-demand resonance, benefiting strong supply chains and well-operated brands [4]. Key Companies - Looking ahead to 2025, the market risk appetite is expected to recover significantly. The beauty sector is characterized by substantial changes and a clear trend of rising domestic brands, indicating strong growth potential and leadership in new consumption [5]. The differentiation among brands is increasing, emphasizing the selection of high-growth targets driven by product innovation and attention to marginal improvements [5].

北京市君合(广州)律师事务所 关于 福建青松股份有限公司 2024 年度股东大会的 法律意见书 二零二五年五月 北京市君合（广州）律师事务所 关于福建青松股份有限公司 2024 年度股东大会的法律意见书 福建青松股份有限公司： 北京市君合（广州）律师事务所（以下简称"本所"）接受福建青松股份有限公司 （以下简称"公司"）的委托，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》等中国现行法律、行政法规、部门规章和规范性文件（以下 简称"中国法律、法规"，"中国"包括香港特别行政区、澳门特别行政区及台湾省， 为本法律意见书之目的，仅指中国大陆）以及《福建青松股份有限公司章程》（以下简 称"《公司章程》"）的有关规定，就公司 2024 年度股东大会（以下简称"本次股东 大会"）有关事宜出具本法律意见书。 本法律意见书仅就本次股东大会的召集和召开程序、出席本次股东大会人员的资格、 召集人资格、会议表决程序是否符合中国法律、法规及《公司章程》的规定以及表决结 果是否合法有效发表意见，并不对本次股东大会所审议的议案内容以及该等议案所表述 的相关事实或数据的真实性、准确性或合法性发表意见。 ...

2024 年度股东大会决议公告 福建青松股份有限公司 2024 年度股东大会决议公告 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、会议召开情况 1、会议召开时间：2025 年 5 月 30 日（星期五）下午 15:30 （1）现场会议召开时间：2025 年 5 月 30 日（星期五）下午 15:30 （2）网络投票时间：2025 年 5 月 30 日 证券代码：300132 证券简称：青松股份 公告编号：2025-019 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为 2025 年 5 月 30 日 9:15—9:25，9:30—11:30 和 13:00—15:00；通过深圳证券交易所互联 网投票系统投票的具体时间为 2025 年 5 月 30 日 9:15—15:00 期间的任意时间。 2、现场会议召开地点：广东省中山市南头镇东福北路 50 号青松股份中山分 公司会议室 3、会议召开方式：本次股东大会采用现场表决与网络投票相结合的方式 4、召集人：公司董事会 5、主持人：董事长范展华 6、本次股东大会的召开符合《公司法》《深圳 ...

Market Overview - The Shanghai Composite Index rose by 0.38% on May 20, with 27 out of the 28 sectors experiencing gains, led by the beauty and personal care sector, which increased by 2.50% [2] - The defense and military industry and coal sector were the only sectors to decline, with decreases of 0.50% and 0.33% respectively [2] Capital Flow Analysis - The main capital flow showed a net outflow of 1.037 billion yuan across the two markets, with 18 sectors seeing net inflows [2] - The electronics sector had the highest net inflow, amounting to 2.673 billion yuan, and it rose by 0.71% [2] - The pharmaceutical and biotechnology sector also performed well, with a daily increase of 1.64% and a net inflow of 1.555 billion yuan [2] Beauty and Personal Care Sector - The beauty and personal care sector saw a daily increase of 2.50%, with a net inflow of 268 million yuan [3] - Out of 31 stocks in this sector, 24 stocks rose, including 2 that hit the daily limit, while 6 stocks declined [3] - The top three stocks by net inflow were: - Reliable Co., with a net inflow of 115 million yuan and a price increase of 12.14% [3] - Yiyi Co., with a net inflow of 101 million yuan and a price increase of 10.02% [3] - Aimeike, with a net inflow of 78.9 million yuan and a price increase of 3.93% [3] Notable Stocks in Beauty and Personal Care Sector - The following stocks had significant capital flows: - Reliable Co. (12.14% increase, 31.85% turnover, 114.57 million yuan inflow) [4] - Yiyi Co. (10.02% increase, 17.90% turnover, 100.68 million yuan inflow) [4] - Aimeike (3.93% increase, 2.81% turnover, 78.90 million yuan inflow) [4] - Conversely, the stocks with the highest net outflows included: - Qingdao King (5.23% decrease, 27.12% turnover, 162.54 million yuan outflow) [4] - Qingsong Co. (1.50% decrease, 24.11% turnover, 54.19 million yuan outflow) [4] - Fulejia (10.77% increase, 16.50% turnover, 20.36 million yuan outflow) [4]