Group 1 - The company Shuiyang Co., Ltd. announced on August 21 that it has made a provision for asset impairment totaling 31.7069 million yuan for the first half of 2025, which will reduce the total profit in the consolidated financial statements for that period by the same amount [2] - The company's revenue for the year 2024 is entirely derived from the daily chemical industry, with a 100% contribution from this sector [2]

Core Viewpoint - Shuiyang Co., Ltd. reported a positive performance in its semi-annual earnings, indicating growth in both revenue and net profit for the first half of 2025 compared to the previous year [2] Financial Performance - The company's revenue for the first half of 2025 is approximately 2.5 billion yuan, representing a year-on-year increase of 9.02% [2] - The net profit attributable to shareholders of the listed company is around 123 million yuan, showing a year-on-year growth of 16.54% [2] - Basic earnings per share are reported at 0.319 yuan, which is an increase of 17.41% year-on-year [2]

Core Viewpoint - Water Sheep Co., Ltd. (300740.SZ) reported a revenue of 2.4997 billion yuan for the first half of 2025, reflecting a year-on-year growth of 9.02% [1] - The net profit attributable to shareholders reached 123 million yuan, marking a year-on-year increase of 16.54% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 121 million yuan, showing a year-on-year growth of 1.04% [1] - The basic earnings per share stood at 0.3190 yuan [1] Financial Performance - Revenue for the first half of 2025: 2.4997 billion yuan, up 9.02% year-on-year [1] - Net profit attributable to shareholders: 123 million yuan, up 16.54% year-on-year [1] - Net profit after deducting non-recurring gains and losses: 121 million yuan, up 1.04% year-on-year [1] - Basic earnings per share: 0.3190 yuan [1]

水羊集团股份有限公司董事会 关于 2025 年半年度募集资金存放与使用情况的专项报告 （除另有注明外，所有金额均以人民币元为货币单位） 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 根据中国证券监督管理委员会（以下简称"中国证监会"）《上市公司募集资金监管规则》、 深圳证券交易所颁布的《深圳证券交易所上市公司自律监管指引第 2 号-创业板上市公司规 范运作》及相关公告格式规定，将水羊集团股份有限公司（以下简称"公司"）2025 年半年 度募集资金存放与使用情况报告如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到账时间 2022 年 4 月 26 日，公司第二届董事会 2022 年第一次定期会议审议通过了《关于公司 向不特定对象发行可转换公司债券方案的议案》。经中国证监会于 2023 年 2 月 9 日出具的《关 于同意水羊集团股份有限公司向不特定对象发行可转换公司债券注册的批复》（证监许可 [2023]283 号），公司获准向不特定对象发行面值总额 69,498.70 万元可转换公司债券（以下 简称"可转债"）。公司本次发行的可转债募集资金总额为 ...

| 非经营性资 | | 占用方与上 | 上市公司核 | 2025 年期 | 2025 年半年度 | 2025 年半 | 2025 年半 | 2025 年期 | | 占用性 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 金占用 | 资金占用方名称 | 市公司的关 | 算的会计科 | 初占用资 | 占用累计发生金 | 年度占用资 | 年度偿还累 | 末占用资 | 占用形成原因 | 质 | | | | 联关系 | 目 | 金余额 | 额（不含利息） | 金的利息 | 计发生金额 | 金余额 | | | | 现大股东及 | | | | | | | | | | | | 其附属企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 前大股东及 | | | | | | | | | | | | 其附属企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 总计 | | | | | | | | | | | | 其它关联资 | | ...

债券代码：123188 债券简称：水羊转债 水羊集团股份有限公司 关于 2025 年半年度计提资产减值准备的公告 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。 一、本次计提资产减值准备情况概述 证券代码：300740 证券简称：水羊股份 公告编号：2025-059 1、本次计提资产减值准备的原因 水羊集团股份有限公司（以下简称"公司"）根据《企业会计准则》及公司 会计政策的相关规定，为真实、准确反映公司截至 2025 年 6 月 30 日的财务状 况、资产价值及经营成果，基于谨慎性原则，对公司的各类资产进行了全面检查 和减值测试，拟对公司截至 2025 年 6 月 30 日合并报表范围内有关资产计提相 应的减值准备。 2、本次计提资产减值准备的资产范围和总金额 公司对截至 2025 年 6 月 30 日存在可能发生减值迹象的应收账款、其他应收 款、存货等资产进行减值测试，对应收账款、其他应收款、存货等计提资产减值 准备，计提金额合计 3,170.69 万元。 本次计提减值损失具体构成如下： 1 | 项目 | 计提资产减值准备（元） | | --- | --- ...

证券代码：300740 证券简称：水羊股份 公告编号：2024-056 债券代码：123188 债券简称：水羊转债 水羊集团股份有限公司 第四届董事会 2025 年第一次定期会议决议公告 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。 一、董事会会议召开情况 水羊集团股份有限公司（以下简称"公司"）第四届董事会 2025 年第一次 定期会议于 2025 年 8 月 20 日在公司六楼会议室召开，由董事长戴跃锋先生主 持，以现场及通讯投票的方式进行表决，本次董事会应出席董事 7 名，实际出席 董事 7 名，符合《水羊集团股份有限公司章程》（以下简称《公司章程》）规定 的法定人数。公司部分高级管理人员列席了本次会议。本次会议通知于 2025 年 8 月 8 日通过书面形式送达至各位董事，本次会议的召集、召开和表决程序符合 《中华人民共和国公司法》等法律法规和《公司章程》的有关规定。 二、董事会会议审议情况 会议经过讨论，一致通过以下决议： 1、审议通过了《关于<2025 年半年度报告>及其摘要的议案》 经审议，董事会一致认为：公司《2025 年半年度报告》及《20 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=第一节%20重要提示、目录和释义) The board ensures report accuracy and completeness; no cash dividends or bonus shares are planned - The company's board of directors and senior management ensure the truthfulness, accuracy, and completeness of this semi-annual report, assuming legal responsibility; all directors attended the review meeting[3](index=3&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for this half-year period[4](index=4&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=第二节%20公司简介和主要财务指标) This section details Water Oasis Group Co Ltd's profile and key financial performance [Company Profile](index=6&type=section&id=一、公司简介) Water Oasis Group Co Ltd (**300740**), formerly Yujiahui, is a Shenzhen Stock Exchange-listed company led by Dai Yuefeng Item | Information | :--- | :--- | | Stock Abbreviation | Water Oasis | | Stock Code | **300740** | | Listing Exchange | Shenzhen Stock Exchange | | Chinese Name | Water Oasis Group Co Ltd | | Legal Representative | Dai Yuefeng | [Key Accounting Data and Financial Indicators](index=7&type=section&id=四、主要会计数据和财务指标) The company achieved **RMB 2.50 billion** revenue (up **9.02%**) and **RMB 123 million** net profit (up **16.54%**), with operating cash flow significantly improving Key Financial Data for H1 2025 | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | **2,499,726,293.89** | **2,292,845,526.07** | **9.02%** | | Net Profit Attributable to Shareholders (RMB) | **123,295,453.50** | **105,796,051.99** | **16.54%** | | Net Profit Attributable to Shareholders Excluding Non-Recurring Items (RMB) | **120,592,203.46** | **119,354,926.83** | **1.04%** | | Net Cash Flow from Operating Activities (RMB) | **166,359,623.51** | **-61,850,822.06** | **368.97%** | | Basic Earnings Per Share (RMB/share) | **0.3190** | **0.2717** | **17.41%** | | Weighted Average Return on Net Assets | **5.76%** | **4.97%** | increase **0.79 percentage points** | | **Indicator** | **End of Current Period** | **End of Prior Year** | **YoY Change** | | Total Assets (RMB) | **4,207,715,166.26** | **4,251,106,914.16** | **-1.02%** | | Net Assets Attributable to Shareholders (RMB) | **2,151,000,384.44** | **2,096,565,253.21** | **2.60%** | [Non-Recurring Gains and Losses](index=8&type=section&id=六、非经常性损益项目及金额) Non-recurring gains and losses totaled **RMB 2.70 million**, primarily from government grants and investment income Non-Recurring Gains and Losses | Item | Amount (RMB) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | **37,222.88** | | Government Grants Recognized in Current P&L | **1,440,250.00** | | Fair Value Changes in Financial Assets/Liabilities | **690,354.78** | | Other Non-Operating Income and Expenses | **973,380.00** | | **Total** | **2,703,250.04** | [Management Discussion and Analysis](index=9&type=section&id=第三节%20管理层讨论与分析) Management discusses operations, core competencies, financial performance, and risk management strategies [Principal Business and Operating Performance](index=9&type=section&id=一、报告期内公司从事的主要业务) The company primarily engages in cosmetics R&D, production, and sales, achieving **RMB 2.50 billion** revenue and **RMB 123 million** net profit in H1 2025 - The company primarily engages in cosmetics R&D, production, and sales, with product categories covering facial masks, lotions, creams, color cosmetics, and personal care, achieving full online and offline channel coverage and establishing a global sales network[27](index=27&type=chunk) 2025年上半年经营业绩 | Indicator | Amount (RMB '0k) | YoY Growth | | :--- | :--- | :--- | | Operating Revenue | **249,972.63** | **9.02%** | | Net Profit Attributable to Parent | **12,329.55** | **16.54%** | | Own Brand Operating Revenue | **103,863.82** | - | | Own Brand Gross Margin | **76.83%** | Increased by **5.7 percentage points** | - The company continues to advance its dual technology empowerment strategy of 'R&D empowering brands' and 'digital empowering organizations', making progress in skin mechanism exploration, innovative raw material development, and digital system construction[39](index=39&type=chunk)[40](index=40&type=chunk)[44](index=44&type=chunk) - The company adheres to a 'dual business-driven strategy of own brands and CP brands'; own brands have completed high-end and global transformation, while CP brands are strategically positioned across five major categories: skincare, color cosmetics, personal care, fragrances, and health foods[46](index=46&type=chunk)[47](index=47&type=chunk)[54](index=54&type=chunk) [Analysis of Core Competencies](index=16&type=section&id=二、核心竞争力分析) Core competencies include dual-business multi-brand strategy, global presence, R&D, digitalization, and management team - The company has achieved parallel development of its own brand system and CP brand system, building a diversified brand portfolio from luxury to mass market[63](index=63&type=chunk) - The company has initially achieved a global layout of its brand, R&D, supply chain, market and channel, and organizational capabilities[64](index=64&type=chunk) - The company operates multiple R&D centers in Changsha, Shanghai, France, and Japan, with an R&D team of over **200** people, continuously empowering its brands[65](index=65&type=chunk) - The company has completed full-link digitalization from R&D to sales and actively applies AI technology to enhance organizational efficiency[67](index=67&type=chunk) [Analysis of Principal Business](index=17&type=section&id=三、主营业务分析) R&D investment increased by **37.31%**, operating cash flow improved by **368.97%**, with lotions/creams as the main revenue source 主要财务数据同比变动 | Item | Current Period (RMB) | Prior Year Period (RMB) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | R&D Expenses | **43,713,876.78** | **31,836,394.52** | **37.31%** | Primarily due to increased R&D personnel salaries, consulting, and testing fees in this period | | Net Cash Flow from Operating Activities (RMB) | **166,359,623.51** | **-61,850,822.06** | **368.97%** | Primarily due to reduced expenditures on goods purchased in this period compared to the prior period | | Net Cash Flow from Investing Activities (RMB) | **-36,715,094.71** | **-60,838,363.18** | **39.65%** | Primarily due to reduced cash payments for fixed asset construction and wealth management in this period compared to the prior period | | Net Cash Flow from Financing Activities (RMB) | **-127,437,291.96** | **-9,509,249.88** | **-1,240.14%** | Primarily due to the company's share repurchase in this period | 分产品或服务情况 | Product/Service | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Margin | YoY Change in Operating Revenue | YoY Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | | Facial Masks | **422,699,558.00** | **114,221,993.50** | **72.98%** | **17.96%** | Increased by **5.11 percentage points** | | Lotions and Creams | **1,997,480,620.14** | **758,040,264.31** | **62.05%** | **11.70%** | Increased by **3.45 percentage points** | [Analysis of Assets and Liabilities](index=18&type=section&id=五、资产及负债状况分析) Total assets were **RMB 4.21 billion** (down **1.02%**), with stable asset structure and decreased borrowings 资产构成重大变动情况 | Item | End of Current Period (RMB) | Proportion of Total Assets | End of Prior Year (RMB) | Proportion of Total Assets | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | **476,981,760.32** | **11.34%** | **476,961,197.20** | **11.22%** | **0.12%** | | Accounts Receivable | **398,559,256.10** | **9.47%** | **347,378,281.70** | **8.17%** | **1.30%** | | Inventories | **806,475,780.06** | **19.17%** | **829,648,510.18** | **19.52%** | **-0.35%** | | Fixed Assets | **921,440,485.25** | **21.90%** | **918,052,551.16** | **21.60%** | **0.30%** | | Short-term Borrowings | **283,751,461.90** | **6.74%** | **352,934,871.90** | **8.30%** | **-1.56%** | | Long-term Borrowings | **419,465,120.60** | **9.97%** | **545,079,137.70** | **12.82%** | **-2.85%** | [Risks and Countermeasures](index=26&type=section&id=十、公司面临的风险和应对措施) The company faces risks in supply chain, competition, user experience, investment, and macroeconomic fluctuations - The company identified five major risks: - **Supply Chain Management Risk**: High requirements for inventory and product shelf-life management - **Intense Industry Competition Risk**: Facing competitive pressures such as price wars and advertising wars from domestic and international brands - **Declining User Experience Risk**: Online sales channels are highly sensitive to product, marketing, logistics, and after-sales service aspects - **Investment Risk**: External mergers and acquisitions may lead to goodwill impairment risks, and industrial fund investments carry risks of not meeting expectations - **Macroeconomic Fluctuation Risk**: Consumer purchasing power is affected by the overall economic climate[101](index=101&type=chunk)[102](index=102&type=chunk)[103](index=103&type=chunk)[105](index=105&type=chunk)[107](index=107&type=chunk) [Corporate Governance, Environment, and Society](index=29&type=section&id=第四节%20公司治理、环境和社会) This section covers the company's profit distribution plan and employee incentive programs [Profit Distribution Plan](index=29&type=section&id=二、本报告期利润分配及资本公积金转增股本情况) The company plans no profit distribution for H1 2025, including no cash dividends or bonus shares - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period[113](index=113&type=chunk) [Equity Incentive and Employee Stock Ownership](index=29&type=section&id=三、公司股权激励计划、员工持股计划或其他员工激励措施的实施情况) The company cancelled some unvested restricted shares from its **2023** incentive plan - On April **25**, **2025**, the company's board of directors approved the 'Proposal on Cancelling Certain Restricted Shares Granted but Not Yet Vested Under the **2023** Restricted Stock Incentive Plan'[114](index=114&type=chunk) [Significant Matters](index=31&type=section&id=第五节%20重要事项) Significant events include litigation, related party transactions, and major contracts, particularly guarantees for subsidiaries [Litigation Matters](index=32&type=section&id=八、诉讼事项) No significant litigation; other unresolved cases involve **RMB 53.50 million**, not expected to have a major impact 其他诉讼事项 | Litigation Type | Amount Involved (RMB '0k) | Status | | :--- | :--- | :--- | | Unresolved Litigation | **5,349.65** | Under trial/arbitration/mediation | | Resolved Litigation | **397.89** | Adjudicated/Enforcement in progress/Enforcement completed | [Significant Related Party Transactions](index=32&type=section&id=十一、重大关联交易) Related-party transactions totaled **RMB 122 million**, within limits, primarily with entities controlled by the actual controller 与日常经营相关的关联交易 | Related Party | Related Party Transaction Type | Amount Incurred in Current Period (RMB '0k) | Proportion of Similar Transactions | | :--- | :--- | :--- | :--- | | Hunan Zhuoyancang Logistics Co Ltd | Procurement of warehousing and distribution services | **7,721.54** | **78.71%** | | Hunan Zhuoyancang Logistics Co Ltd | Provision of property leasing | **103.29** | **48.13%** | | Hunan Shuiyang New Media Co Ltd | Procurement of promotion services | **4,172.81** | **4.08%** | | Hunan Shuiyang New Media Co Ltd | Provision of property leasing and management services | **250.27** | **50.93%** | | **Total** | -- | **12,247.91** | -- | [Significant Contracts and Their Performance](index=34&type=section&id=十二、重大合同及其履行情况) Total actual guarantee balance for subsidiaries was **RMB 1.52 billion**, accounting for **70.76%** of net assets 重大担保情况 | Item | Amount (RMB '0k) | | :--- | :--- | | Total Approved Guarantee Limit for Subsidiaries in Reporting Period | **300,000** | | Total Approved Guarantee Limit for Subsidiaries at Period End | **1,090,000** | | Total Actual Guarantee Balance for Subsidiaries at Period End | **152,194.67** | | Proportion of Total Actual Guarantees to Company's Net Assets | **70.76%** | [Share Changes and Shareholder Information](index=39&type=section&id=第六节%20股份变动及股东情况) This section outlines share capital changes, including convertible bond conversions and repurchases, and major shareholder information [Share Changes](index=39&type=section&id=一、股份变动情况) Total share capital increased to **390 million shares** due to convertible bond conversions; **8.10 million** shares were repurchased - During the reporting period, due to the conversion of 'Shuiyang Convertible Bonds', the company's total share capital increased by **1,665,614** shares to **390,004,140** shares[150](index=150&type=chunk)[151](index=151&type=chunk) - The company initiated a share repurchase plan, intending to use **RMB 50 million** to **RMB 100 million** to repurchase shares for employee stock ownership plans or equity incentives; as of July **31**, **2025**, **8,097,150** shares have been repurchased, with a transaction amount of **RMB 97.82 million**[154](index=154&type=chunk)[155](index=155&type=chunk) [Shareholder Numbers and Shareholding Structure](index=41&type=section&id=三、公司股东数量及持股情况) Total common shareholders were **25,713**; top three shareholders, acting in concert, held **46.03%** of shares 前十大股东持股情况 | Shareholder Name | Shareholding Percentage | Number of Shares Held at Period End | | :--- | :--- | :--- | | Hunan Yujia Investment Management Co Ltd | **24.59%** | **95,904,214** | | Changsha Tingting Enterprise Management Consulting Partnership (Limited Partnership) | **11.42%** | **44,523,000** | | Dai Yuefeng | **10.02%** | **39,086,611** | | Changsha Yutou Investment Management Partnership (Limited Partnership) | **3.39%** | **13,212,533** | | Du Jingyu | **2.03%** | **7,899,998** | - Mr Dai Yuefeng, the company's actual controller, Hunan Yujia Investment Management Co Ltd, and Changsha Tingting Enterprise Management Consulting Partnership (Limited Partnership) are parties acting in concert[160](index=160&type=chunk) [Bond-Related Information](index=45&type=section&id=第七节%20债券相关情况) This section provides an overview of the company's convertible corporate bonds, including conversion status and credit ratings [Convertible Corporate Bonds](index=45&type=section&id=四、可转换公司债券) Total **RMB 695 million** convertible bonds were issued; **RMB 22.55 million** converted, with **RMB 672 million** remaining 报告期转债变动情况 | Item | Amount (RMB) | | :--- | :--- | | Before this change | **694,890,000.00** | | Current conversion to shares | **22,554,800.00** | | After this change | **672,335,200.00** | 累计转股情况 | Item | Amount/Quantity | | :--- | :--- | | Total Issue Amount (RMB) | **694,987,000.00** | | Accumulated Conversion Amount (RMB) | **22,651,800.00** | | Unconverted Amount (RMB) | **672,335,200.00** | | Proportion of Unconverted Amount to Total Issue Amount | **96.74%** | - China Chengxin International maintained the company's corporate credit rating at **A+** with a **stable** outlook, and the credit rating for 'Shuiyang Convertible Bonds' at **A+**[180](index=180&type=chunk) [Financial Report](index=51&type=section&id=第八节%20财务报告) This section presents the company's unaudited H1 **2025** consolidated and parent company financial statements [Financial Statements](index=51&type=section&id=二、财务报表) This section includes the company's unaudited H1 **2025** consolidated and parent company financial statements [Consolidated Balance Sheet](index=51&type=section&id=1、合并资产负债表) Total assets were **RMB 4.21 billion**, total liabilities **RMB 2.06 billion**, with an asset-liability ratio of **48.93%** [Consolidated Income Statement](index=55&type=section&id=3、合并利润表) Total operating revenue was **RMB 2.50 billion**, total operating costs **RMB 2.33 billion**, resulting in **RMB 124 million** net profit [Consolidated Cash Flow Statement](index=59&type=section&id=5、合并现金流量表) Net cash flow from operating activities was **RMB 166 million**, investing activities **-RMB 37 million**, and financing activities **-RMB 127 million** - The company's semi-annual financial report is unaudited[184](index=184&type=chunk)

（原标题：2118.28万元资金今日流出美容护理股） 沪指8月21日上涨0.13%，申万所属行业中，今日上涨的有17个，涨幅居前的行业为农林牧渔、石油石 化，涨幅分别为1.50%、1.39%。美容护理行业位居今日涨幅榜第三。跌幅居前的行业为机械设备、电 力设备，跌幅分别为1.08%、0.98%。 美容护理行业今日上涨0.98%，全天主力资金净流出2118.28万元，该行业所属的个股共29只，今日上涨 的有20只；下跌的有9只。以资金流向数据进行统计，该行业资金净流入的个股有12只，其中，净流入 资金超千万元的有7只，净流入资金居首的是拉芳家化，今日净流入资金3604.00万元，紧随其后的是水 羊股份、福瑞达，净流入资金分别为2538.65万元、2469.64万元。美容护理行业资金净流出个股中，净 流出资金居前的有青岛金王、中顺洁柔、珀莱雅，净流出资金分别为1.14亿元、2035.84万元、1906.39 万元。（数据宝） 美容护理行业资金流向排名 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | -- ...

证券之星消息，8月21日化妆品板块较上一交易日上涨1.27%，水羊股份领涨。当日上证指数报收于 3771.1，上涨0.13%。深证成指报收于11919.76，下跌0.06%。化妆品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002094 | 青岛金王 | 9.08 | -1.20% | 142.86万 | 13.26 Z | | 603605 | | 86.87 | -0.13% | 9.25万 | 8.05亿 | | 300849 | 锦盛新材 | 13.84 | 0.14% | 5.36万 | 7426.32万 | | 300957 | 贝泰妮 | 46.91 | 0.64% | 6.82万 | 3.21亿 | | 600315 | 上海家化 | 23.40 | 0.65% | 14.13万 | 3.32亿 | | 300856 | 科思股份 | 15.74 | 0.70% | 8.23万 | 1.29亿 | | 300955 | 嘉亨家化 | 20.69 | 0. ...