爱美客在此期间是否错过了最佳的商业化时机？公司制定了怎样的销售策略？ 2026年1月12日，爱美客方面在接受《中国经营报》记者采访时表示："中国肉毒毒素市场的渗透率仍远 低于成熟市场，未来增长空间广阔。当前产品获批的时机，正值市场进一步规范、消费者认知日益成熟 之际，这为我们提供了更为理性、更可持续的商业化窗口。我们将依托已建立的专业渠道和品牌优势， 高效推进上市工作。"公司将根据注射用A型肉毒毒素产品通过进口药品检验时间、市场情况等因素确 定该产品在中国上市销售的时间。此外，公司将综合评估研发成本、市场定位、渠道、品牌、与公司现 有产品协调等因素确定销售策略。 中经记者 陈婷 赵毅 深圳报道 一桩8年前敲定的独家经销生意，终于在近期有了落地的眉目。 2026年1月8日，爱美客（300896.SZ）公告，在中国（包括澳门和香港）独家经销韩国Huons Bio Pharma Co。， Ltd。（以下简称"Huons BP"）生产的注射用A型肉毒毒素产品取得国家药监局核准签发 的药品注册证，获批产品规格为100 U/瓶。 肉毒毒素在业内有"除皱神器"之称。早在2018年9月，爱美客与韩国HuonsCo。， Ltd ...

Group 1 - The company, Aimeike (300896.SZ), has stated on its interactive platform that it currently does not have any technology or business plans related to AI [1]

每经AI快讯，有投资者在投资者互动平台提问：你们有没有使用AI技术进行医疗美容？ 爱美客（300896.SZ）1月15日在投资者互动平台表示，公司主营业务为Ⅲ类医疗器械，是Ⅲ类医疗器械 的提供商。公司下游客户主要为有资质的医疗美容机构及经销商，下游客户根据法律法规及其合法资质 独立对外开展医疗服务。 （记者 王晓波） ...

从资金流向上来看，当日医疗美容板块主力资金净流出1305.43万元，游资资金净流入1400.89万元，散 户资金净流出95.45万元。医疗美容板块个股资金流向见下表： 证券之星消息，1月15日医疗美容板块较上一交易日下跌1.03%，爱美客领跌。当日上证指数报收于 4112.6，下跌0.33%。深证成指报收于14306.73，上涨0.41%。医疗美容板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

1月15日，爱美客盘中下跌2.02%，截至11:25，报148.71元/股，成交3.83亿元，换手率1.22%，总市值 449.98亿元。 资金流向方面，主力资金净流出1833.83万元，特大单买入2412.46万元，占比6.30%，卖出2753.53万 元，占比7.19%；大单买入6945.86万元，占比18.15%，卖出8438.62万元，占比22.05%。 爱美客今年以来股价涨4.93%，近5个交易日涨1.86%，近20日涨5.80%，近60日跌11.38%。 资料显示，爱美客技术发展股份有限公司位于北京市朝阳区建国路甲92号世茂大厦C座21层，成立日期 2004年6月9日，上市日期2020年9月28日，公司主营业务涉及从事生物医用软组织修复材料的研发、生 产和销售。主营业务收入构成为：溶液类注射产品57.27%，凝胶类注射产品37.97%，其他3.01%，冻干 粉类注射产品1.50%，面部埋植线0.26%。 截至1月9日，爱美客股东户数6.15万，较上期增加2.32%；人均流通股3393股，较上期减少2.27%。2025 年1月-9月，爱美客实现营业收入18.65亿元，同比减少21.49%；归母净利润 ...

| 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入 (元) | | | 游资净占比 散户净流入 (元) 散户净占比 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 300896 爱美客 | | 1776.60万 | 1.94% | -2191.86万 | -2.40% | 415.27万 | 0.45% | | 000615 | *ST美谷 | -180.80万 | -4.31% | -46.08万 | -1.10% | 226.88万 | 5.41% | | 688363 华熙生物 | | -1004.52万 | -2.44% | 420.82万 | 1.02% | 583.70万 | 1.42% | | 920982 锦波生物 | | -4352.79万 | -13.09% | -1671.41万 | -5.03% | -216.91万 | -0.65% | 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | 代码 | 名称 | 收盘价 | 涨跌幅 ...

T a [ 行业研究|可选消费 证券研究报告 可选消费行业周报、月报 2026 年 01 月 14 日 b l [Table_Title] 离岛免税迎"开门红"，爱美客注射用 e _ M A 型肉毒毒素获批 ——商社美护行业周报 [Table_Summary] 报告要点： 市场表现 ] 本周（2026.01.05-2026.01.09），商贸零售/社会服务/美容护理分别 +4.23%/+4.71%/+2.55%，在 31 个一级行业中排名第 15/14/22,同期 上证综指+3.82%，深证成指+4.40%，沪深 300+2.79%。 本周行业重点事件及资讯 2025 年 12 月份居民消费价格（CPI）同比上涨 0.8%。扣除食品和能 源价格的核心 CPI 同比上涨 1.2%。2025 年全年，全国居民消费价格 与上年持平。 全国总工会、文化和旅游部、国家电影局、国家体育总局联合印发《关 于深入推进新时代职工文体工作高质量发展 扩大职工文体消费的意 见》。提出鼓励提高工会经费中文体活动支出比例，推动用人单位就 文体活动和带薪年休假开展集体协商，扩大职工疗休养规模，鼓励基 层工会每年最多可开展四次春秋游活动。 ...

Core Viewpoint - The report from CITIC Securities indicates a gradual recovery in high-end consumption in China since Q3 2025, driven by the wealth effect from rising stock markets, with positive signs from international luxury brands and high-end retail properties [1] Group 1: Recovery Indicators - International luxury brands have shown signs of recovery since Q2 2025, with revenue growth returning in the Asia-Pacific region by Q3 2025 [2] - High-end retail properties in China began to recover at the end of 2024 and early 2025, with improved occupancy rates and sales, particularly in top luxury malls [2] - The global luxury market also entered a recovery phase starting Q3 2025 [2] Group 2: Investment Opportunities in High-End Consumption - The recovery of high-end consumption is influenced by factors such as the proportion of VIC (Very Important Customer) groups, the sequence of consumption based on wealth increase, the elasticity of supply, and consumption trends [3] - Categories with strong initial demand, driven by social status and identity needs, are expected to recover first, while categories with a high proportion of VIC customers and good supply conditions will show more sustained growth [3] - The fastest-growing segments in the luxury market from 2019 to 2025 include luxury cruises, private jets, high-end dining, personal luxury goods, luxury hotels, and high-end home goods [3] Group 3: Recommended Investment Targets - The report recommends focusing on luxury jewelry and leather goods, high-end domestic beauty products, and high-end outdoor sports [4] - Specific companies to watch include gold and jewelry brands like Lao Pu Gold and Chow Tai Fook, beauty brands like Mao Ge Ping, and sportswear brands like Anta Sports [4] - Other areas of interest include high-end commercial real estate, high-end residential real estate, gaming, private aviation, high-end tourism and dining, and premium liquor [4]

证券之星消息，1月12日医疗美容板块较上一交易日上涨0.4%，爱美客领涨。当日上证指数报收于 4165.29，上涨1.09%。深证成指报收于14366.91，上涨1.75%。医疗美容板块个股涨跌见下表： | 代码 | 名称 | | | 主力净流入（元） 主力净占比 游资净流入（元） 游资净占比 散户净流入 (元) 散户净占比 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 000615 *ST美谷 | | -741.90万 | -14.47% | 221.67万 | 4.32% | 520.22万 | 10.15% | | 688363 华熙生物 | | -888.66万 | -3.25% | 140.49万 | 0.51% | 748.18万 | 2.74% | | 300896 | 爱美客 | -3419.73万 | -5.06% | 2238.97万 | 3.31% | 1180.76万 | 1.75% | | 920982 锦波生物 | | -3955.68万 | -14.39% | -710.72万 | -2.59% | 33. ...

Core Insights - The approval of the botulinum toxin product by Aimeike enhances the company's aesthetic medicine product line, filling a gap in its offerings [1] - The combination of this new product with existing offerings allows the company to provide more comprehensive solutions to customers, thereby strengthening its core competitiveness [1] - The aesthetic medicine consumption penetration rate still has significant room for growth, indicating potential for future expansion [1] Product Development - Aimeike has several products in development, including those for weight management and submental fat, which will further enrich its aesthetic medicine product pipeline upon launch [1] - The company is investing in self-research to create new product lines while also pursuing external acquisitions to enhance its product offerings [1] Financial Projections - The forecast for the company's net profit attributable to shareholders for 2025-2027 is set at 1.564 billion, 1.794 billion, and 2.099 billion yuan, respectively [1] - Corresponding price-to-earnings ratios (PE) are projected to be 28.2, 24.6, and 21 times for the same period [1] - The company maintains an "outperform the market" rating based on these projections [1]