Core Viewpoint - Yabao Chemical (300261) is progressing with its C93 workshop at the Lanzhou base, which is not yet operational, while Lanwo Technology has achieved stable production and delivery of pesticide intermediates [1] Group 1 - The C93 workshop at the Lanzhou base is advancing in an orderly manner and has not yet commenced operations [1] - Lanwo Technology has successfully achieved stable mass production and delivery of pesticide intermediates [1] - The chairman's remarks focus on the long-term development trends and outlook of the company, without constituting any performance forecasts or commitments [1]

Core Viewpoint - The collaboration model between Yabao Chemical and Heng Rui Medicine is based on the CDMO (Contract Development and Manufacturing Organization) model, which encompasses all stages from preclinical to commercial production [1]. Group 1 - Yabao Chemical engages in a CDMO partnership with Heng Rui Medicine [1]. - The collaboration covers various phases of drug development, including preclinical and commercial production [1].

证券日报网讯1月13日，雅本化学（300261）在互动平台回答投资者提问时表示，截至2026年1月9日， 公司股东总数为52305户。 ...

Core Viewpoint - NMN (β-Nicotinamide Mononucleotide) is gaining global attention in the health industry for its potential anti-aging, DNA repair, and metabolic regulation benefits, with significant regulatory advancements expected by 2025 [1][2]. Industry Development - The NMN industry has evolved from laboratory research to commercial applications, with major markets like the US, Japan, Canada, and Australia recognizing its legal status through various regulatory pathways [1][2]. - China is currently the largest producer of NMN raw materials, with leading companies building competitive barriers through technological innovation and industry chain layout [2][19]. Regulatory Environment - The global regulatory landscape for NMN is shifting from strict restrictions to cautious openness, with significant milestones achieved in countries like Japan, Canada, the US, and Australia [17][18]. - In China, NMN has been approved as a new cosmetic ingredient and is on the path to becoming a recognized health food, with the National Market Supervision Administration listing it for health food approval in April 2025 [17][18]. Market Demand - The aging population in China is driving the "silver economy," with projections indicating that the elderly population will grow from 320 million to 390 million between 2025 and 2030, creating a substantial market for anti-aging products [19]. - The younger generation, particularly those born in the 1990s, is increasingly aware of anti-aging needs, further boosting market demand for NMN products [19]. Technological Advancements - Innovations in synthesis, quality testing, and delivery methods are driving the NMN industry forward, with full enzyme methods significantly enhancing production efficiency and reducing costs [21][22]. - The transition from chemical synthesis to full enzyme methods is leading to higher purity and environmental sustainability in NMN production [10][12]. Application Areas - NMN is primarily used in health supplements and cosmetics, with the health supplement market accounting for nearly 90% of its applications, including anti-aging and immune support products [24][28]. - Future applications are expected to expand into pet nutrition, medical health, and agricultural technology, opening new growth avenues for the industry [24][28]. Market Size and Growth - The NMN market in China is projected to exceed 3 billion yuan by 2025, driven by increasing regulatory clarity and expanding applications in various sectors [28][32]. - The market has been growing steadily since 2020, with significant penetration into health supplements and cosmetics [28][32]. Sales Channels - NMN products are primarily sold through cross-border e-commerce and private channels, with cross-border e-commerce accounting for 60% to 70% of market share [35][34]. - Brand private channels are also showing strong performance, capturing about 30% of the market share [35]. Certification and Standards - The "blue hat" certification for health foods in China represents the highest standard for NMN products, indicating safety and compliance [37]. - Achieving this certification could significantly reshape the market landscape for NMN products in China [37]. Future Prospects - The NMN industry is poised for growth, with regulatory breakthroughs expected to enhance market opportunities, particularly in the cosmetics sector [51]. - The potential for NMN in pet nutrition, medical health, and agricultural technology is also being explored, indicating a broadening of its application scope [53][56][58].

证券日报网讯1月7日，雅本化学（300261）在互动平台回答投资者提问时表示，根据相关法律法规的规 定，公司将在2025年年度报告中披露截至2025年12月31日的股东数据。 ...

证券代码：300261 证券简称：雅本化学 公告编号：2026-001 雅本化学股份有限公司 关于为子公司提供担保及子公司为公司提供担保 的进展公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 一、担保情况概述 2025 年 1 月 24 日，雅本化学股份有限公司（以下简称"公司"）第五届 董事会第二十三次（临时）会议和第五届监事会第二十二次（临时）会议审议 通过了《关于公司为子公司提供担保及子公司互相担保的议案》。为满足子公 司的经营发展需要，公司同意为全资子公司雅本（绍兴）药业有限公司（以下 简称"绍兴雅本"）办理银行授信等业务提供担保。具体内容详见公司于 2025 年 1 月 25 日在巨潮资讯网上披露的《关于公司为子公司提供担保及子公司互相 担保的公告》（公告编号：2025-008）。2025 年 2 月 24 日，公司 2025 年第一 次临时股东大会审议通过了上述议案。 2025 年 10 月 27 日，公司第六届董事会第七次会议审议通过了《关于增加 2025 年度担保额度及担保对象的议案》，公司同意为全资子公司上海朴颐化学 科技有限公司（以下简称 ...

Core Viewpoint - The business cooperation between Yabonn Chemical and Fumase is currently proceeding normally, and there are no cancellations of orders reported as of now [1] Group 1: Company Operations - Yabonn Chemical confirmed that its collaboration with Fumase is ongoing and functioning as expected [1] - The company stated that the current situation does not meet the criteria for information disclosure, but it will comply with legal requirements for disclosure if necessary [1]

Group 1 - The core point of the news is that Yabao Chemical experienced a decline in stock price and trading volume on December 29, with a net financing buy of -346.42 million yuan, indicating a low level of investor confidence [1] - As of December 29, the total margin balance for Yabao Chemical was 233 million yuan, accounting for 3.59% of its market capitalization, which is below the 40th percentile level over the past year, indicating a low financing level [1] - The company reported a revenue of 996 million yuan for the period from January to September 2025, representing a year-on-year growth of 6%, while the net profit attributable to shareholders was -6.92 million yuan, showing a significant year-on-year increase of 87.81% [2] Group 2 - Yabao Chemical has distributed a total of 478 million yuan in dividends since its A-share listing, with 95.9 million yuan distributed over the past three years [3] - As of September 30, 2025, the number of shareholders for Yabao Chemical was 53,100, a decrease of 1.43% from the previous period, while the average circulating shares per person increased by 1.45% to 17,743 shares [2] - Among the top ten circulating shareholders, the Southern CSI 1000 ETF is the seventh largest shareholder with 6.1681 million shares, marking its entry as a new shareholder, while Hong Kong Central Clearing Limited has exited the top ten list [3]

证券日报网讯 12月29日，雅本化学在互动平台回答投资者提问时表示，截至2025年12月20日，公司股 东总数为53136户。 （文章来源：证券日报） ...

Core Viewpoint - NMN (β-Nicotinamide Mononucleotide) is gaining attention in the global health industry for its potential in anti-aging, DNA repair, and metabolic regulation, with significant advancements in regulatory approval and market potential expected by 2025 [1][2]. Industry Development - The NMN industry has evolved from laboratory research to commercial applications, with major markets like the US, Japan, Canada, and Australia recognizing its legal status through various regulatory pathways [1][2]. - China is currently the largest producer of NMN raw materials, with leading companies building competitive barriers through technological innovation and industry chain layout [2]. NMN Definition and Function - NMN is a direct precursor of NAD+ (Nicotinamide Adenine Dinucleotide), crucial for delaying aging and enhancing physiological functions [3][4]. - Supplementing NMN can quickly elevate NAD+ levels in the body, playing a vital role in anti-aging, cardiovascular health, and metabolic improvement [4][6]. Synthesis Pathways - NMN supplementation shows significant advantages in NAD+ synthesis pathways compared to other precursors, with no known adverse reactions and the highest conversion efficiency [6][7]. Natural Sources and Supplementation - Natural food sources of NMN are limited, making NMN supplements, which can provide up to 300 times the dietary intake, more effective for achieving beneficial doses [8]. Synthesis Technology - The NMN synthesis process has shifted from chemical methods to fully enzymatic methods, focusing on high purity, safety, and environmental sustainability [10][11]. - Leading companies are innovating in full enzymatic synthesis and patenting technologies to create competitive advantages [12]. Market Trends and Applications - NMN is primarily used in health supplements and cosmetics, with potential expansion into pet nutrition, medical health, and agricultural technology [24][28]. - The NMN market in China is expected to exceed 3 billion yuan by 2025, driven by regulatory changes and new applications [28]. Sales Channels - NMN products are mainly sold through cross-border e-commerce and private channels, with cross-border platforms accounting for 60%-70% of market share [35]. Certification and Compliance - The "blue hat" certification for health supplements in China represents the highest standard for NMN products, with strict approval processes impacting market dynamics [37]. Future Prospects - The NMN industry is poised for growth, with increasing demand driven by an aging population and younger consumers seeking anti-aging solutions [19][21]. - Technological advancements in synthesis, quality control, and delivery methods are expected to enhance market growth and product efficacy [21][22]. Challenges - The NMN industry faces challenges such as regulatory hurdles, market education, and the need for scientific validation to support claims [61][63].