Financial Performance - The company's revenue for Q3 2025 was ¥334,686,849.16, a decrease of 4.59% compared to the same period last year[5]. - Net profit attributable to shareholders was ¥1,752,000.08, an increase of 137.23% year-on-year, while the net profit after deducting non-recurring gains and losses was -¥6,110,957.58, a decrease of 62.13%[5]. - The basic earnings per share for the period was ¥0.0018, up 136.73% year-on-year[5]. - Total operating revenue for the current period reached ¥996,357,916.07, an increase of 5.0% compared to ¥939,956,746.25 in the previous period[20]. - The net profit for the current period was a loss of ¥12,777,476.47, an improvement from a loss of ¥55,695,104.00 in the previous period[21]. - The net profit attributable to the parent company was -6,916,421.61 CNY, compared to -56,719,680.51 CNY in the previous period[22]. - The total comprehensive income amounted to -9,833,502.10 CNY, down from -56,430,109.52 CNY year-over-year[22]. - The basic and diluted earnings per share were both -0.0072 CNY, compared to -0.0589 CNY in the previous period[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,145,198,667.21, reflecting a 3.14% increase from the end of the previous year[5]. - The total assets of the company increased to ¥4,145,198,667.21 from ¥4,019,170,670.70, marking a growth of 3.1%[17]. - Current liabilities rose to ¥1,774,722,283.44, up from ¥1,558,601,363.22, representing an increase of 13.8%[17]. - The total liabilities of the company increased to ¥2,011,507,122.69 from ¥1,875,453,209.03, reflecting a growth of 7.2%[17]. - The company's total equity decreased to ¥2,133,691,544.52 from ¥2,143,717,461.67, a decline of 0.5%[17]. Cash Flow - Cash flow from operating activities showed a net inflow of ¥5,039,810.55, a significant decrease of 94.44% compared to the previous year[5]. - Operating cash flow generated was 5,039,810.55 CNY, a significant decrease from 90,596,629.86 CNY in the previous period[24]. - Cash inflow from operating activities totaled 965,813,689.67 CNY, compared to 927,195,314.12 CNY last year[24]. - Cash outflow from operating activities was 960,773,879.12 CNY, up from 836,598,684.26 CNY in the previous period[24]. - Investment activities resulted in a net cash outflow of -82,047,974.01 CNY, compared to -88,144,766.95 CNY last year[25]. - Financing activities generated a net cash inflow of 162,729,697.72 CNY, reversing from a net outflow of -4,880,504.53 CNY in the previous period[25]. - The ending cash and cash equivalents balance was 409,464,265.46 CNY, an increase from 227,157,307.20 CNY at the end of the previous period[25]. - The company received 48,133,583.50 CNY in tax refunds, up from 39,729,171.92 CNY last year[24]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 52,662[10]. - The largest shareholder, Ningbo Yaben Holdings Co., Ltd., holds 26.75% of shares, totaling 257,729,839 shares, with 87,600,000 shares pledged[10]. - The second-largest shareholder, Wang Xinya, holds 6.75% of shares, totaling 65,000,350 shares, with 65,000,000 shares pledged[10]. - The total number of shares held by the top 10 shareholders includes significant pledges, indicating potential liquidity risks[10]. - The company has a total of 6,657,225 restricted shares that were released due to executive changes[12]. - The report indicates that there are no other known relationships among shareholders beyond those disclosed[10]. Strategic Initiatives - The company signed a strategic supply agreement with Jiangsu Hengrui Medicine Co., Ltd. on August 1, 2025, to enhance collaboration in pharmaceutical intermediates and active pharmaceutical ingredients[13]. - The company announced the termination of plans to acquire a stake in Gansu Haotian Technology Co., Ltd. on July 30, 2025[13]. - The company is focusing on innovation in the pharmaceutical CDMO business as part of its "2+X" strategy[13]. - The company has a strong emphasis on quality control and technological innovation in its operations[13]. Operational Costs - Total operating costs amounted to ¥1,026,893,621.09, slightly up from ¥1,022,711,059.09, indicating a marginal increase of 0.2%[21]. - Research and development expenses increased significantly to ¥86,247,119.60, up from ¥67,919,076.00, reflecting a growth of 27.0%[21]. Asset Management - The company reported a 334.80% increase in fair value changes, amounting to ¥10,885,655.91, primarily due to changes in other non-current financial assets[8]. - The company experienced a 16541.65% increase in asset disposal gains, totaling ¥9,670,874.25, indicating improved asset management[8]. - The company’s long-term borrowings decreased by 38.67% to ¥128,800,000.00, attributed to repayment efforts[8]. - The company’s contract liabilities increased by 88.67% to ¥15,871,737.09, indicating a rise in advance payments received[8]. - The company’s financial expenses decreased by 58.36% to ¥10,189,085.27, mainly due to the impact of exchange gains and losses[8].

Core Insights - The NMN concept index rose by 0.95%, ranking 10th among concept sectors, with 18 stocks increasing in value, led by Te Yi Pharmaceutical, which hit the daily limit, and other notable gainers including Su Yan Jing Shen, Zhong Sheng Pharmaceutical, and Shuanglu Pharmaceutical, which rose by 5.93%, 5.22%, and 4.42% respectively [1][2] Market Performance - The NMN concept sector saw a net inflow of 181 million yuan from main funds, with 13 stocks receiving net inflows, and 5 stocks exceeding 10 million yuan in net inflow. Te Yi Pharmaceutical topped the list with a net inflow of 215 million yuan, followed by Zhong Sheng Pharmaceutical, De Zhan Health, and Shuanglu Pharmaceutical with net inflows of 51.31 million yuan, 35.94 million yuan, and 14.18 million yuan respectively [2][3] Fund Flow Ratios - Te Yi Pharmaceutical, Yaben Chemical, and De Zhan Health had the highest net inflow ratios, with rates of 17.90%, 11.09%, and 9.59% respectively [3]

Core Viewpoint - Yabao Chemical's stock price increased by 1.84% on October 15, with a trading volume of 102 million yuan, indicating a positive market sentiment towards the company [1]. Financing Summary - On October 15, Yabao Chemical had a financing buy-in amount of 6.2452 million yuan and a financing repayment of 8.4839 million yuan, resulting in a net financing buy of -2.2387 million yuan [1]. - As of October 15, the total financing and securities lending balance for Yabao Chemical was 234 million yuan, with the financing balance at 232 million yuan, accounting for 3.35% of the circulating market value, which is below the 40th percentile level over the past year, indicating a low financing level [1]. - The company repaid 300 shares of securities lending on October 15, with a selling amount of 2,157 yuan, while the securities lending balance was 1.2554 million yuan, exceeding the 90th percentile level over the past year, indicating a high level of securities lending [1]. Business Performance - For the first half of 2025, Yabao Chemical achieved an operating income of 662 million yuan, representing a year-on-year growth of 12.31%, while the net profit attributable to the parent company was -8.6684 million yuan, showing a year-on-year increase of 83.33% [2]. - The company's main business revenue composition includes 69.58% from pesticide intermediates, 21.73% from pharmaceutical intermediates, 4.15% from other products, 2.85% from environmental products, and 1.70% from specialty chemicals [1]. Shareholder Information - As of October 10, the number of shareholders for Yabao Chemical was 53,000, a decrease of 0.88% from the previous period, while the average circulating shares per person increased by 0.89% to 17,675 shares [2]. - Since its A-share listing, Yabao Chemical has distributed a total of 478 million yuan in dividends, with 95.8998 million yuan distributed in the last three years [3]. - As of June 30, 2025, Hong Kong Central Clearing Limited was the fourth largest circulating shareholder, holding 9.1389 million shares as a new shareholder, while the Southern CSI 1000 ETF exited the top ten circulating shareholders [3].

Core Points - Yabao Chemical announced the release of share pledges by its actual controllers, Mr. Cai Tong and Ms. Wang Xinya [2] Group 1 - The company received notification that Mr. Cai Tong and Ms. Wang Xinya have released a portion of their pledged shares [2] - The number of shares released from pledge amounts to 80,000,000 shares [2]

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。 雅本化学股份有限公司（以下简称"公司"）近日接到实际控制人蔡彤先生 及汪新芽女士的通知，蔡彤先生及汪新芽女士将其持有的部分公司股份办理了股 份解除质押业务，具体事项如下： 二、股东股份累计质押的情况 截至本公告日，上述股东及其一致行动人所持质押股份情况如下： 证券代码：300261 证券简称：雅本化学 公告编号：2025-074 雅本化学股份有限公司 关于实际控制人股份解除质押的公告 特此公告。 雅本化学股份有限公司 董事会 公司控股股东宁波雅本控股有限公司、实际控制人蔡彤先生及汪新芽女士资 信情况良好，具备相应的资金偿付能力，整体质押风险可控，不存在平仓或被强 制过户风险，不会导致公司实际控制权发生变更，不会对公司生产经营、公司治 理等产生实质性影响。公司将持续关注其股份质押变动情况及风险，并及时履行 信息披露义务。敬请投资者注意风险。 四、备查文件 1、股份解除质押证明。 2、中国证券登记结算有限责任公司股份冻结明细。 3、深交所要求的其他文件。 股东名称 是否为控 股股东或 第一大股 东及其一 致行动人 本次解 ...

Core Insights - The FDA has officially confirmed that β-nicotinamide mononucleotide (NMN) can be legally sold as a dietary supplement, marking a significant regulatory shift in the U.S. market [1][2] - This regulatory relaxation highlights a deeper industrial competition between China and the U.S., as Chinese companies, which control 90% of global NMN raw material production, face challenges in exporting raw materials while struggling to sell finished products domestically due to stricter regulations [1][5] - Scientific controversies surrounding NMN's efficacy and safety cast a shadow over its commercial potential, with limited clinical trials and high costs limiting its market appeal primarily to high-net-worth individuals [1][9] Regulatory Landscape - The FDA's change in stance is attributed to a revision of the "drug preemption" clause, allowing NMN to be classified as a dietary supplement without requiring proof of health benefits, only safety assessments [2][4] - In contrast, China's regulatory framework remains cautious, with no formal approval for NMN as a food additive or health supplement, reflecting a more stringent approach to food safety standards [4][5] Market Dynamics - Chinese companies like Ginkgo BioWorks and Aibin Chemical are leveraging their technological capabilities in the production of NMN, but they primarily export raw materials or sell through cross-border e-commerce platforms due to domestic regulatory hurdles [5][7] - Despite having a strong position in raw material supply, Chinese firms lag in brand recognition and market presence compared to international giants, with limited sales of NMN products in domestic markets [5][7] Scientific and Commercial Challenges - The scientific basis for NMN's anti-aging claims is rooted in NAD+ metabolism, but the transition from animal studies to human applications remains uncertain, with only 19 registered clinical trials globally [7][9] - The high cost of NMN supplementation, which can reach thousands of yuan annually, raises questions about its value proposition compared to lifestyle interventions that can also enhance NAD+ levels at a lower cost [9]

Group 1 - The company, Yabao Chemical, announced on September 30 that it has signed strategic cooperation agreements with leading firms such as Heng Rui Pharmaceutical and Su Yan, aiming to establish long-term, stable, and trustworthy relationships with core partners [1] - This collaboration is expected to enhance the company's ability to expand cooperation dimensions and deepen the level of collaboration, reflecting the high recognition of the company's comprehensive strength by industry-leading enterprises [1]

Core Viewpoint - The resignation of Mr. Kang Litiao, the Deputy General Manager of Yabian Chemical, is effective immediately upon the delivery of his written resignation to the company's board of directors [1] Company Summary - Mr. Kang's original term was set from February 25, 2025, to February 24, 2028 [1] - As of the announcement date, Mr. Kang did not hold any shares in the company [1] - There are no unfulfilled commitments that Mr. Kang is obligated to fulfill [1]

Core Viewpoint - The resignation of senior management personnel, Kang Litiao, from Yabao Chemical Co., Ltd. due to personal reasons, effective immediately upon the board's receipt of the resignation letter [1] Group 1 - Kang Litiao resigned from the position of Deputy General Manager and will not hold any position in the company after his resignation [1] - His original term was set from 2025 to 2028 [1] - As of the announcement date, he did not hold any shares in the company and had no unfulfilled commitments [1]

雅本化学股份有限公司（以下简称"公司"）董事会于近日收到公司高级管 理人员康立涛先生递交的书面辞职报告。康立涛先生因个人原因辞去公司副总经 理职务，辞职后不在公司担任任何职务。康立涛先生的辞职自书面辞职报告送达 公司董事会之日起生效。 康立涛先生的副总经理职务原定任期为 2025 年 2 月 25 日至第六届董事会任 期届满之日，即 2025 年 2 月 25 日至 2028 年 2 月 24 日止。截至本公告披露日， 康立涛先生未持有公司股份，不存在应当履行而未履行的承诺事项。康立涛先生 辞去公司副总经理职务后，将继续严格遵守《上市公司董事和高级管理人员所持 本公司股份及其变动管理规则（2025 年修订）》《深圳证券交易所上市公司自 律监管指引第 18 号——股东及董事、高级管理人员减持股份（2025 年修订）》 等相关规定。 康立涛先生任职期间勤勉尽责，在深化主业发展和探索多元发展方面贡献突 出。公司及董事会对康立涛先生在公司任职期间为公司的发展所作出的贡献表示 衷心的感谢。 特此公告。 雅本化学股份有限公司 证券代码：300261 证券简称：雅本化学 公告编号：2025-073 雅本化学股份有限公司 关 ...