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。 一、董事会会议召开情况 1、开能健康科技集团股份有限公司（下文简称"公司"）第六届董事会第 二十九次会议的会议通知于2025年11月17日以书面或邮件方式发出。 2、本次董事会会议于2025年11月21日在上海浦东新区川大路518号以现场结 合通讯表决的方式召开。 证券代码：300272 证券简称：开能健康 公告编号：2025-094 3、本次董事会会议应出席董事5名，实际出席董事5名。 4、本次董事会会议由董事长瞿建国先生主持，高级管理人员列席了本次会 议。 胞以现金方式收购原能丽水持有的原天生物、丽水东昕100%股权及原能集团持 有的克勒猫、基元美业100%股权。本次交易标的股权的转让价款为20,381.66万 元。 本次收购后，公司将持有原天生物、基元美业、丽水东昕、克勒猫100%股 权，公司合并报表范围将新增以上公司及其控股子公司（上海东昕、莱森原、欧 珊尔）。 公司独立董事专门会议审议通过本议案，具体内容详见在符合条件的媒体披 露的《关于公司全资子公司现金收购原能集团部分子公司股权暨关联交易的公 告》， ...

Core Insights - The company, Kaineng Health, is focusing on both water purification and the broader health industry, implementing a dual-driven development strategy that includes deepening its water purification business and expanding into cell technology [2][10] - Kaineng Health has undergone significant digital transformation, achieving a high level of automation and smart manufacturing, which has positioned it as a leader in the industry [3][5] - The company is actively building its own brand to capture service revenue and user data, which will help create a comprehensive health ecosystem [6][7] Digital Transformation - Kaineng Health has transitioned from traditional manufacturing to smart manufacturing, introducing automated production lines and digital systems that minimize human intervention [3][4] - The company has established a digital solutions output company, showcasing its expertise in supply chain management and digitalization to other industries [5] - By 2025, Kaineng Health plans to fully integrate AI technology into its manufacturing processes for further efficiency improvements [5] Brand Development and Market Expansion - Kaineng Health is leveraging its established supply chain to enhance its own brand, which is crucial for generating long-term service revenue [6][7] - The company has made strategic acquisitions, including a U.S. brand, to penetrate the North American market and plans to establish a local production base [6][7] - Kaineng Health's products are sold in over 100 countries, with more than 60% of revenue coming from developed markets [7] Financial Performance and Strategy - Kaineng Health has maintained an average annual revenue of approximately 1.6 billion yuan over the past three years, with a payout ratio exceeding 70% [8] - The company is committed to innovation and exploring new business avenues, particularly in cell technology, which has been a focus of investment despite previous challenges [8][9] - Recent announcements indicate plans for establishing subsidiaries in the cell industry and acquiring related companies to bolster growth [10]

Core Insights - Shanghai consumer companies are leveraging innovation, quality, branding, and international expansion to drive growth and contribute to the city's goal of becoming an international consumption center [12][14]. Group 1: Innovation - Innovation is identified as the key to overcoming growth bottlenecks, with companies like Miaokelan Duo creating a diverse product matrix that appeals to all age groups, achieving a 38% market share in cheese [12][13]. - Long-established brands like Laofengxiang are successfully merging traditional craftsmanship with modern trends, utilizing collaborations with popular IPs to attract younger consumers [12][18]. Group 2: Quality - Quality is emphasized as the foundation of brand strength, with Longtou Co.'s "Fire Cotton" series achieving the highest market share in its category for 28 consecutive years [13]. - Kaien Health holds numerous patents and has received international recognition for its core products, reinforcing its position in the health and wellness sector [13]. Group 3: Branding - Branding is seen as a core asset for long-term development, with companies like Miaokelan Duo and Laofengxiang evolving their brand identities to resonate with modern consumers [13][14]. - Laofengxiang is expanding into the luxury market through strategic partnerships and product diversification, aiming to enhance its brand presence [16][21]. Group 4: International Expansion - Companies are increasingly looking to international markets for growth, with Longtou Co. and Kaien Health actively pursuing overseas opportunities [14][21]. - Laofengxiang is accelerating its global store openings and collaborations to promote Chinese aesthetics internationally [14][21]. Group 5: Financial Performance - Laofengxiang has maintained annual sales exceeding 50 billion yuan, with a target to surpass 100 billion yuan during the 14th Five-Year Plan [20][21]. - Miaokelan Duo reported a revenue of 3.957 billion yuan in the first three quarters of 2025, reflecting a 10.09% year-on-year growth [32].

Market Overview - The small home appliance sector experienced a decline of 0.54% on November 18, with Rainbow Group leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Stock Performance - Notable gainers in the small appliance sector included: - Joyoung Co., Ltd. (002242) with a closing price of 11.80, up 1.99% and a trading volume of 644,200 shares, totaling 736 million yuan [1] - Biyin Co., Ltd. (603215) closed at 20.29, up 1.45% with a trading volume of 33,400 shares, totaling 67.34 million yuan [1] - Major decliners included: - Rainbow Group (003023) which fell 8.33% to a closing price of 25.20, with a trading volume of 96,000 shares, totaling 249 million yuan [2] - ST Dehao (002005) down 5.08% to 2.80, with a trading volume of 244,100 shares, totaling 68.69 million yuan [2] Capital Flow - The small home appliance sector saw a net outflow of 55.19 million yuan from institutional investors, while retail investors contributed a net inflow of 72.79 million yuan [2] - Specific stock capital flows indicated: - Lek Electric (603355) had a net inflow of 18.91 million yuan from institutional investors, but a net outflow of 17.39 million yuan from retail investors [3] - Joyoung Co., Ltd. (002242) experienced a net inflow of 18.21 million yuan from institutional investors, with a slight net outflow from retail investors [3]

Group 1 - The chairman of the company, Qu Jianguo, is the founder and chairman of Shenhwa Holdings, one of the "old eight stocks" in Shanghai [2] - The company clarified that there is no relationship between Shenhwa Holdings and itself [2]

Market Overview - The small home appliance sector experienced a decline of 1.01% on November 17, with ST Dehao leading the drop [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Stock Performance - Notable gainers in the small appliance sector included: - Lek Electric (603355) with a closing price of 29.09, up 2.68% on a trading volume of 57,000 shares and a turnover of 163 million yuan [1] - Supor (002032) closed at 49.81, up 1.14% with a trading volume of 28,400 shares and a turnover of 141 million yuan [1] - Other stocks showed mixed performance, with some experiencing slight declines, such as: - Kewo (603486) closed at 80.50, down 1.01% on a trading volume of 33,800 shares and a turnover of 272 million yuan [1] Capital Flow - The small home appliance sector saw a net outflow of 148 million yuan from institutional investors, while retail investors had a net inflow of 170 million yuan [2] - The capital flow for specific stocks indicated: - Supor (002032) had a net outflow of 43.21 million yuan from institutional investors [3] - Stone Technology (688169) recorded a net inflow of 15.83 million yuan from institutional investors [3]

Core Viewpoint - Multiple A-shares are set to implement dividend distributions, indicating a positive trend in shareholder returns and company performance [1][2][3] Group 1: Dividend Announcements - Sanhe Tree (603737) will distribute a cash dividend of 0.50 CNY per share, totaling 369 million CNY, with the record date on November 18, 2025, and the ex-dividend date on November 19, 2025 [2] - Zhiou Technology (301376) will distribute a cash dividend of 2 CNY for every 10 shares, amounting to 80.1554 million CNY, with the same record and ex-dividend dates as above [2] - Yongqing Environmental Protection (300187) will distribute a cash dividend of 0.77 CNY for every 10 shares, with no stock bonus or capital reserve conversion, also following the same record and ex-dividend dates [2] - China Nuclear Construction (601611) will distribute a cash dividend of 0.01 CNY per share, totaling 30.1383 million CNY, with the record date on November 19, 2025, and the ex-dividend date on November 20, 2025 [2] Group 2: Additional Dividend Distributions - China CNR (601766) will distribute a cash dividend of 0.11 CNY per share, totaling approximately 3.157 billion CNY, with the record and ex-dividend dates on November 19 and 20, 2025, respectively [3] - Songzhi Co. (002454) will distribute a cash dividend of 1.50 CNY for every 10 shares, totaling 93.9345 million CNY, with the same record and ex-dividend dates [3] - Chongqing Beer (600132) announced a mid-year profit distribution plan, proposing a cash dividend of 1.30 CNY per share, totaling 629 million CNY, with the same record and ex-dividend dates [3]

Core Points - Multiple A-shares have announced dividend distributions, indicating a trend of returning profits to shareholders [1][2][3] Group 1: Dividend Announcements - Sanhe Tree (603737) will distribute a cash dividend of 0.50 CNY per share, totaling 369 million CNY, with the record date on November 18, 2025, and the ex-dividend date on November 19, 2025 [2] - Zhiou Technology (301376) will distribute a cash dividend of 2 CNY for every 10 shares, amounting to 80.1554 million CNY, with the same record and ex-dividend dates as above [2] - Yongqing Environmental Protection (300187) will distribute a cash dividend of 0.77 CNY for every 10 shares, with no stock bonus or capital reserve conversion, also on the same dates [2] - China Nuclear Construction (601611) will distribute a cash dividend of 0.01 CNY per share, totaling 30.1383 million CNY, with the record date on November 19, 2025, and the ex-dividend date on November 20, 2025 [2] Group 2: Additional Dividend Distributions - China CNR (601766) will distribute a cash dividend of 0.11 CNY per share, totaling approximately 3.157 billion CNY, with the record and ex-dividend dates on November 19 and 20, 2025, respectively [3] - Songzhi Co. (002454) will distribute a cash dividend of 1.50 CNY for every 10 shares, totaling 93.9345 million CNY, with the same record and ex-dividend dates [3] - Chongqing Beer (600132) plans to distribute a cash dividend of 1.30 CNY per share, totaling 629 million CNY, with the record date on November 18, 2025, and the ex-dividend date on November 19, 2025 [3]

Group 1 - The stock of Kaineng Health reached the daily limit, with a turnover rate of 26.68% and a transaction amount of 9.92 billion yuan, showing a volatility of 20.11% [1] - Institutional investors net bought 6.08 million yuan, while the total net buying from brokerage seats amounted to 17.61 million yuan [1][2] - The stock was listed on the Shenzhen Stock Exchange due to a closing price increase of 20.00%, with institutional specialized seats net buying 6.08 million yuan [2] Group 2 - The main capital inflow for Kaineng Health was 174 million yuan, with a significant single net inflow of 200 million yuan, while large single funds saw a net outflow of 25.42 million yuan [2] - Over the past five days, the net inflow of main capital reached 207 million yuan [2] - The top five brokerage seats accounted for a total transaction of 338 million yuan, with a buying amount of 181 million yuan and a selling amount of 157 million yuan, resulting in a total net buying of 23.69 million yuan [2]

Core Insights - The assisted reproductive concept sector saw a rise of 1.11%, ranking 9th among concept sectors, with 47 stocks increasing in value, including notable gains from companies like Kaineng Health (20% limit up), Zhongsheng Pharmaceutical, and Zhongyuan Harmony, which also hit the limit up [1][2] Group 1: Market Performance - The assisted reproductive sector had a net inflow of 1.149 billion yuan, with 36 stocks receiving net inflows, and 6 stocks exceeding 50 million yuan in net inflow [2] - Zhongsheng Pharmaceutical led the net inflow with 436 million yuan, followed by Zhongyuan Harmony, Hengrui Medicine, and Kaineng Health with net inflows of 220 million yuan, 192 million yuan, and 174 million yuan respectively [2][3] Group 2: Stock Performance - The top performers in the assisted reproductive sector included Kaineng Health (20% limit up), Zhongsheng Pharmaceutical (10.02% increase), and Zhongyuan Harmony (10% increase) [1][3] - The stocks with the largest declines included Haichen Pharmaceutical (-4.96%), Sichuan Shuangma (-3.23%), and Rendu Biotechnology (-2.08%) [1][3] Group 3: Capital Flow Ratios - The highest net inflow ratios were observed in Zhongyuan Harmony (25.74%), Kaineng Health (17.57%), and Zhongsheng Pharmaceutical (14.67%) [3][4]