Group 1 - The company has confirmed its collaboration with domestic brain-computer interface enterprises [2] - An investor inquired about potential partnerships with leading international and domestic brain-computer interface companies [2] - The response indicates a focus on domestic collaborations rather than international ones at this time [2]

股价异动原因 技术面获利了结压力：短期涨幅较大后，部分资金选择兑现收益。2月10日至12日成交额均超10亿元， 换手率维持在8%以上，显示交易活跃且分歧加剧。 重组细节待明确：联世传奇的审计、评估工作尚未完成，交易对价和业绩承诺等关键条款未最终确定， 市场观望情绪升温。 经济观察网 根据公开信息和市场数据，壹网壹创（300792）（300792.SZ）在发布重组预案后出现回 调，主要与市场情绪、技术面压力和估值因素相关。 股票近期走势 2026年2月6日，公司披露拟通过发行股份及支付现金方式收购AI营销服务商联世传奇100%股权，以补 强广告投放能力。预案公布后，2月9日股价单日上涨14.46%，年内累计涨幅一度达70%。但随后三个交 易日（2月10日至13日）股价出现回调，区间振幅达22.72%，截至2月13日收盘报46.38元，较2月10日高 点51.60元回落约10%。 业绩改善但估值偏高：公司预计2025年归母净利润同比增长21.1%至57.32%，但当前市盈率（TTM）达 137.83倍，高于行业平均水平。 机构目标价分歧：综合机构目标价为39.60元，较当前股价存在折价，反映部分机构对短期估值的谨 ...

美妆代运营正在挣扎"上岸" 开年以来，丽人丽妆、凯淳股份、壹网壹创、若羽臣、青木科技五大美妆代运营商先后发布了2025年业绩预告。 与前三季度集体承压、财报惨淡，仅有寥寥两家维持增长的景象不同，年末却意外迎来业绩回暖信号，多家企业预告业绩改善。 但这份"暖意"并未普照整个行业，曾经依附美妆品牌成长、赚足流量红利的代运营商，如今正经历前所未有的生存考验，"日子不好过"已成为行业普遍现 象。 只是，有人"浮沉"，也有人开始有人陆续"上岸"了。 01 整体有所增长 但仍难言乐观 过去一年，美妆代运营行业被冠以"集体寒冬"的标签。 从第一季度到第三季度，多数企业的财报都难言乐观，仅有若羽臣、青木股份等少数公司保持增长态势。然而，到了年底的年终业绩预告，行业似乎出现 了一丝回暖的迹象。 | 公司名称 | 预计归母净利润 | 预计同比 | | --- | --- | --- | | 若羽臣 | 1.76亿元 - 2.00亿元 | +67% 至 +89% | | 青木科技 | 1.18亿元 - 1.36亿元 | +30% 至 +50% | | 壹网壹创 | 9203万元 - 1.196亿元 | +21.10% 至 +57. ...

Core Insights - AI marketing is transforming from experience-driven to data intelligence-driven, enhancing precision in advertising and operational efficiency [1] - The domestic AI marketing application market is projected to reach 97.6 billion yuan by 2029, with a CAGR of 36.5% [2] - Generative Engine Optimization (GEO) is emerging as a new trend, with a potential market size of 24 billion yuan by 2030, reflecting a CAGR of 53% [3] Group 1: AI Marketing Overview - AI marketing leverages AI technologies such as machine learning and natural language processing to capture user needs and respond in real-time, moving beyond traditional marketing methods [1] - The core functionalities of AI marketing include data insights, content generation, process execution, and interactive assistance [1] Group 2: Market Growth and Trends - The AI marketing application market is entering a rapid growth phase, with the revenue expected to reach 20.6 billion yuan in 2024 and 97.6 billion yuan by 2029 [2] - The competitive landscape for enterprise-level AI agent service providers is characterized by a three-tier structure, with major internet companies leading, niche players focusing on specific sectors, and startups seeking breakthroughs [2] Group 3: GEO Application Insights - GEO aims to enhance visibility and credibility in AI-generated engines, improving traffic acquisition efficiency compared to traditional SEO [3] - The domestic GEO marketing service market is expected to grow to 2.9 billion yuan by 2025 and 24 billion yuan by 2030 [3] - The competition in the GEO market is defined by technology-driven leaders and a focus on vertical scenarios, with e-commerce companies enhancing their GEO services [3] Group 4: Company Developments - Xinhua Du plans to launch the "MaiDian AI Intelligent Matrix" strategy in 2026, focusing on content generation and user behavior analysis [4] - Yiwan Yichuang is transitioning to an AI e-commerce service model in collaboration with Alibaba Cloud [4] - Aifeng Technology is driving growth through self-owned brand incubation and AI-enhanced services [4] - MaiFeng is recognized as a leading "AI + SaaS" intelligent marketing cloud platform, showcasing its integrated capabilities [4]

Investment Rating - The report maintains an "Accumulate" rating for the food and beverage industry [1] Core Insights - AI marketing is transforming the marketing logic from "experience-driven" to "data-intelligent-driven," enhancing efficiency and precision in marketing strategies [5][10] - The AI marketing sector is expected to reach a market size of nearly 100 billion by 2029, driven by the increasing demand for digital transformation and technological advancements [5][36] - The emergence of Generative Engine Optimization (GEO) is creating new growth opportunities in the marketing landscape, with significant potential for market expansion [5][41] Summary by Sections AI Marketing: Full-Chain Digital Reconstruction - AI marketing leverages technologies like machine learning and natural language processing to capture user needs and respond in real-time, moving beyond traditional marketing methods [10][11] - The marketing process is divided into four core functions: data insight, content generation, process execution, and interactive assistance [11][12] Acceleration of AI Marketing Commercialization - The AI marketing sector is transitioning into a new phase of commercial application, with three main monetization models: advertising revenue sharing, subscription models, and value-added service fees [17][19] - Leading SaaS companies are integrating AI technologies to enhance marketing effectiveness, with notable examples including Salesforce and Tencent's Magic Agent [23][30] New Opportunities in AI Marketing: GEO - GEO aims to optimize content visibility and credibility in AI-generated responses, significantly improving traffic acquisition efficiency [41][44] - The GEO market is projected to grow substantially, with estimates suggesting a market size of 29 billion yuan by 2025 and 240 billion yuan by 2030, reflecting a CAGR of 52.6% [54][55]

Investment Rating - The report maintains a positive outlook on the cosmetics and medical beauty sector, indicating strong performance compared to the market [2][3]. Core Insights - Estee Lauder reported a double-digit growth in China, with net sales reaching RMB 29.35 billion, a year-on-year increase of 6%, and profits improving by 127% to RMB 1.12 billion [2][6]. - The Tmall beauty category saw a significant increase of 24% year-on-year in January 2026, indicating a strong start to the year for the beauty market [2][25]. - The report highlights the government's focus on promoting service consumption, which is expected to drive growth in key sectors, including beauty and personal care [7][8]. Summary by Sections Industry Performance - The cosmetics and medical beauty sector outperformed the market, with the Shenwan Beauty Care Index rising by 3.7% from January 30 to February 6, 2026 [3]. - The top-performing stocks in the sector included Betaini (+13.5%), Huaxi Biological (+12.0%), and Beijia Clean (+10.8%) [3]. Company Performance - Estee Lauder's sales in mainland China surged by 13% to RMB 6.44 billion, confirming the recovery of international beauty brands in the Chinese market [2][6]. - The report notes that the overall retail sales of cosmetics in December 2025 grew by 8.8%, with a total retail sales of RMB 465.3 billion for the year, reflecting a steady recovery in consumer spending [18][19]. Market Trends - The report emphasizes the shift in consumer focus towards personalized and high-quality services, with emotional and experiential services becoming new consumption hotspots [8][10]. - The government is implementing measures to stimulate service consumption, which is expected to play a crucial role in driving economic growth [7][8]. E-commerce Insights - The report discusses the acquisition of Beijing Lianshi by Yiwang Yichuang, which aims to enhance AI-driven marketing capabilities, indicating a trend towards digital transformation in the industry [12][13]. - The report highlights the competitive landscape in the e-commerce sector, with domestic brands gaining market share against international competitors [26].

Investment Rating - The report indicates a positive outlook for the cosmetics and medical beauty sector, with strong performance compared to the market [2][3]. Core Insights - Estee Lauder reported double-digit growth in China, with net sales reaching RMB 29.35 billion, a year-on-year increase of 6%, and profits improving by 127% to RMB 1.12 billion [8][26]. - The Tmall beauty category saw a significant increase of 24% year-on-year in January 2026, indicating strong consumer demand and confidence in the market [8][29]. - The report highlights the government's focus on promoting service consumption, which is expected to drive growth in key sectors, including beauty and personal care [9][10]. Summary by Sections Industry Performance - The cosmetics and medical beauty sector outperformed the market, with the Shenwan Beauty Care Index rising by 3.7% from January 30 to February 6, 2026 [3]. - The Shenwan Cosmetics Index increased by 2.8%, outperforming the Shenwan A Index by 4.4 percentage points [3]. Company Highlights - Estee Lauder's sales in mainland China surged by 13% to RMB 6.44 billion, confirming the recovery of international beauty brands in the Chinese market [8][26]. - The report notes that the top-performing stocks in the sector included Betaini (+13.5%), Huaxi Biological (+12.0%), and Beijia Clean (+10.8%) [4]. E-commerce Insights - The report provides data on the performance of domestic brands on platforms like Douyin and Tmall, showing significant growth in GMV for several brands [20]. - For instance, the brand "毛戈平" saw a GMV increase of 298% in December 2025 [21]. Market Trends - The overall retail sales of cosmetics in December 2025 grew by 8.8%, with a total retail sales figure of RMB 465.3 billion for the year, reflecting a steady recovery in consumer spending [22][23]. - The report emphasizes the shift in consumer preferences towards personalized and high-quality products, indicating a strategic opportunity for brands to innovate [10][11].

Core Viewpoint - The company 壹网壹创 is actively embracing AI technology through an acquisition strategy, aiming to enhance its capabilities in e-commerce services by acquiring 北京联世传奇网络技术有限公司, a firm specializing in AI-driven marketing solutions [2][4][9]. Group 1: Acquisition Details - 壹网壹创 plans to acquire 100% of 联世传奇 through a combination of share issuance and cash payment, while also raising additional funds for transaction costs and working capital [4][5]. - The acquisition is expected to strengthen 壹网壹创's advertising service capabilities within its e-commerce operations, allowing for resource sharing and enhanced competitiveness [5][9]. - 联世传奇 is projected to achieve revenues of 1.32 billion yuan in 2025, reflecting a growth of over 45% [4][5]. Group 2: Financial Performance - The company forecasts a net profit attributable to shareholders of 92.03 million to 120 million yuan for 2025, representing a year-on-year growth of 21.1% to 57.32% [2][7]. - The adjusted net profit (扣非净利润) is expected to be between 101 million and 131 million yuan, with a growth rate of 30.35% to 69.32% [2][7]. - Historical financial performance shows fluctuations in revenue and profit from 2021 to 2024, with a notable recovery anticipated in 2025 [7][8]. Group 3: AI Integration and Strategy - 壹网壹创 has implemented multiple AI Agents across various functions, enhancing operational efficiency and supporting a shift towards asset-light operations [7][8]. - The acquisition of 联世传奇 is expected to save significant R&D costs and time, allowing for quicker integration of advanced marketing algorithms into 壹网壹创's services [9]. - The company aims to solidify its market position amid industry changes by leveraging AI technology in e-commerce services [9].

中国经济网北京2月9日讯壹网壹创（300792）(300792.SZ)2月6日晚间发布发行股份及支付现金购买资 产并募集配套资金预案。本次交易由发行股份及支付现金购买资产和募集配套资金两部分组成。本次发 行股份及支付现金购买资产不以募集配套资金的成功实施为前提，最终募集配套资金成功与否或是否足 额募集不影响本次发行股份及支付现金购买资产行为的实施。 上市公司拟通过发行股份及支付现金的方式购买杨光宏、声名鹊起、鹊起电子、声名电子、静衡中道持 有的联世传奇100.00%的股权。本次交易完成后，联世传奇将成为上市公司全资子公司。 截至预案签署之日，标的公司的审计和评估工作尚未完成，具体评估值和交易价格尚未确定。标的资产 的最终交易价格将在参考评估机构出具的评估报告载明的评估值的基础上，经交易各方协商确定。 本次交易的交易对价采取发行股份及支付现金的方式进行支付。发行股份支付和现金支付的具体金额在 交易价格确定的同时进行明确，并将在重组报告书中予以披露。 本次交易前，本次发行股份及支付现金购买资产的交易对方与上市公司不存在关联关系，本次交易完成 后，各交易对方持有公司股权比例预计不超过公司总股本的5%。根据《公司法》 ...

Core Viewpoint - The company plans to acquire 100% equity of Beijing Lianshi Legend Network Technology through a share issuance and cash payment, aiming to enhance its e-commerce service capabilities and advertising expertise in the AI-driven marketing sector [1][2]. Group 1: Company Overview - Yiwang Yichuang, established in 2012 in Hangzhou, specializes in comprehensive e-commerce services and accelerating new consumer brands, providing full-chain e-commerce operation services [1]. - The company has a strong track record, having helped brands like Pechoin achieve significant sales milestones, including three consecutive Tmall Double 11 beauty category championships from 2015 to 2017 [1]. - Yiwang Yichuang has been recognized as a Tmall Six-Star Service Provider since 2019, maintaining its status to date [1]. Group 2: Financial Performance - For the fiscal year 2025, the company expects a net profit attributable to shareholders of between 92.03 million and 120 million yuan, representing a year-on-year growth of 21.10% to 57.32% [1]. - The expected net profit after deducting non-recurring items is projected to be between 101 million and 131 million yuan, with a year-on-year increase of 30.35% to 69.32% [1]. Group 3: Acquisition Details - The target company, Beijing Lianshi, is a leading AI algorithm-based intelligent marketing service provider, offering digital marketing solutions that encompass strategy formulation, content production, precise placement, and effect attribution [1][2]. - The acquisition is expected to enhance Yiwang Yichuang's advertising service capabilities within its e-commerce operations, allowing for resource sharing and collaboration in technology development [2]. Group 4: Strategic Initiatives - The company is adapting to the evolving e-commerce search industry by strategically positioning itself in the GEO (Generative Engine Optimization) space, which is seen as a significant industry evolution supported by AI technology [3]. - Yiwang Yichuang aims to leverage its extensive experience in Alibaba's e-commerce services and its collaboration in AI strategies to gain a competitive edge in GEO content optimization and multi-platform operations [3]. Group 5: Market Position - Yiwang Yichuang is recognized as a prominent e-commerce operation service provider in China, maintaining its position among Tmall's Six-Star Service Providers, with partnerships spanning various sectors including beauty, personal care, and health products [4]. - The company plans to utilize its accumulated operational and sales data over the past decade to enhance efficiency and reduce costs, while deepening its collaboration with Alibaba's AI strategy [4].