爱美客（300896.SZ）2月26日在投资者互动平台表示，截至目前，公司暂未有AI辅助研发方面的布局。 （记者 张明双） 每经AI快讯，有投资者在投资者互动平台提问：爱美客在AI辅助研发方面有哪些具体布局？ ...

格隆汇2月26日丨爱美客(300896.SZ)在互动平台表示，截至目前，公司暂未有AI辅助研发方面的布局。 ...

证券日报网讯 2月24日，爱美客在互动平台回答投资者提问时表示，截至2026年2月10日，公司股东人 数为61417户。 （文章来源：证券日报） ...

在童颜针代理权之争陷入"拉锯战"背后，江苏吴中已经退市，爱美客的业绩也难言乐观。 与爱美客争夺"童颜针"代理权的江苏吴中，退市后又有了新动作。 据江苏吴中医药发展股份有限公司（以下简称"江苏吴中"）近日发布的公告，公司拟以8000万元将其持有的全资 孙公司吴中美学生物科技（上海）有限公司（以下简称"上海吴中美学"）100%股权进行对外转让，受让方为上海 青愈生物科技有限公司（以下简称"上海青愈生物"）。 8000万元转让孙公司，退市后江苏吴中"断臂求生" 江苏吴中拟8000万元转让孙公司，主要原因之一便是"还债"。 在公告中，江苏吴中坦言，当前面临现金流短缺压力，且部分存量债务即将到期。转让上海吴中美学100%股权， 可以"优化公司资产结构，盘活存量资产，并切实解决债务问题。" 从标的公司来看，上海吴中美学主要业务为医美产品的研发生产，是江苏吴中医美生科板块旗下的公司。审计报 告显示，截至2025年11月30日，上海吴中美学经审计的资产总额约1.04亿元，所有者权益约7308.92万元。 童颜针代理权之争陷入"拉锯战"，临时措施被取消 此次转让上海吴中美学100%股权，或是江苏吴中收缩医美板块的缩影。 回顾江 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report highlights a steady recovery in consumer spending during the Spring Festival, with significant increases in payment transactions and retail sales compared to the previous year [4][26] - The report emphasizes the importance of high-quality companies in high-growth sectors driven by emotional consumption themes [7][35] Summary by Sections Industry Dynamics - The Spring Festival saw a robust recovery in social consumption, with payment transactions on New Year's Eve reaching 4.931 billion, a 21.64% increase from the previous year [4][26] - Key regions like Hainan and cities such as Tianjin and Zhenjiang showed strong performance in retail and dining, with Hainan's duty-free shopping amounting to 1.03 billion yuan, up 20.9% year-on-year [4][27] - Domestic travel orders surged by 60%, and outbound travel orders increased by over 180% during the holiday period [4][26] Investment Recommendations - Investment Theme 1: Focus on high-end gold and fashion jewelry brands, recommending companies like Laopai Gold and Chaohongji for their differentiated product offerings [7][35] - Investment Theme 2: Emphasize retail companies adapting to trends and AI-enabled cross-border e-commerce leaders, with recommendations for Yonghui Supermarket and Aiyingshi [7][35] - Investment Theme 3: Highlight domestic beauty brands that cater to emotional value and innovative safe ingredients, recommending brands like Maogeping and Proya [7][35] - Investment Theme 4: Focus on differentiated medical beauty product manufacturers and leading medical beauty institutions, recommending companies like Meilitiantian Medical Health and Aimeike [7][35] Market Performance - The retail and social service indices reported declines of 1.59% and 0.78% respectively during the week from February 9 to February 13, 2026 [6][15] - The report notes that the education sector saw the highest growth among sub-sectors, while the watch and jewelry sector led the year-to-date performance with an 11.29% increase [6][18] Company Highlights - Laopai Gold reported a significant revenue increase of 250.9% in the first half of FY2025, driven by strong consumer demand and brand expansion [37] - Chaohongji is expected to achieve a net profit growth of 125% to 175% in FY2025, supported by its differentiated product strategy [37] - Maogeping and Proya are highlighted for their strong performance in the beauty sector, with Maogeping achieving a revenue increase of 31.3% in FY2025 [37]

Group 1 - The core point of the article is that the recent US Supreme Court ruling on the $175 billion tariff refund has significant implications for both China and the A-share market, despite the refund being an internal US matter [2][6][28] - The $175 billion in tariffs was primarily collected from imports, including a 10% tariff on Chinese goods, and is now being refunded to US importers [8][10] - The refund will indirectly benefit Chinese companies as US importers, who have been financially strained by tariffs, will use the refunded money to pay off debts to Chinese suppliers and resume orders [12][14][28] Group 2 - The immediate impact on the A-share market is expected to be positive, with a potential "opening red" for A-shares as market sentiment improves following the ruling [40][46] - The ruling is seen as a signal that the previous high tariffs on Chinese goods may not be a permanent state, which could lead to a more favorable environment for Chinese exports [20][48] - Structural opportunities in the A-share market are identified, focusing on five main lines: export-oriented sectors, domestic substitution, strategic resources, domestic consumption, and new energy [51][62][88] Group 3 - Export-oriented sectors, particularly those with high exposure to the US market, are expected to benefit directly from the tariff refunds, with companies like Midea Group and Haier expected to see improved performance [52][72][73] - Domestic substitution and self-sufficiency in sectors like semiconductors and military equipment are highlighted as long-term strategic focuses, with companies like SMIC and AVIC Shenyang Aircraft being key players [53][78][86] - Strategic resources such as rare earths and gold are also expected to see price support due to ongoing global supply chain disruptions, benefiting companies like Northern Rare Earth and Shandong Gold [56][87]

与此同时，曾经的"抗衰明星"超声炮热度锐减过半，玻尿酸则在价格战的泥潭中稳守"顶流"地位。当合 规壁垒与技术迭代加速重塑市场，医美行业的"马太效应"正在以一种近乎残酷的方式上演，而减重与脱 发治疗正成为资本竞逐的下一个新大陆。 再生填充材料狂飙后的断层：463%增长与56%下降的"冰与火" 近日，医美平台美呗发布的《2025医美消费榜》显示，再生填充材料成为"年度MVP"，2025年销售额 同比增长93.40%，成为连续三年狂飙的"热门选手"。 在整个赛道狂奔的同时，各个品牌2025年销售额的增速却出现分化：臻爱塑菲以463%的强势增长排名 第一；艾维岚同比增长78.71%，稳扎稳打；伊妍仕的市场受到挤压，同比下降56%。 每经记者｜陈星 每经编辑｜黄博文 2025年的中国医美市场，在喧嚣中迎来了一个微妙的分水岭。 美呗平台最新数据显示，连续三年狂飙的再生填充材料赛道，在2025年销售额整体增长93.40%的光鲜 之下，还出现了内部断层：爱美客旗下的"臻爱塑菲"以463%的增速强势领跑，而昔日"少女针"王者华 东医药的"伊妍仕"却同比下降56%。 成都高新米兰柏羽医学美容医院皮肤科技术院长、副主任医师陈双瑜表 ...

Market Overview - The medical beauty sector experienced a decline of 1.27% on February 13, with *ST Meigu leading the drop [1] - The Shanghai Composite Index closed at 4082.07, down 1.26%, while the Shenzhen Component Index closed at 14100.19, down 1.28% [1] Stock Performance - Key stocks in the medical beauty sector showed the following performance: - Jinbo Biological (920982) closed at 217.52, down 0.45% with a trading volume of 3504.16 and a transaction amount of 76.71 million [1] - Aimeike (300896) closed at 145.24, down 1.10% with a trading volume of 22,600 and a transaction amount of 3.32 billion [1] - Huaxi Biological (688363) closed at 47.25, down 1.42% with a trading volume of 34,500 and a transaction amount of 164 million [1] - *ST Meigu (000615) closed at 3.26, down 1.81% with a trading volume of 111,200 and a transaction amount of 36.89 million [1] Capital Flow - The medical beauty sector saw a net outflow of 55.91 million from main funds, while retail investors contributed a net inflow of 21.01 million [1] - Detailed capital flow for key stocks includes: - *ST Meigu: Main funds net outflow of 3.25 million, retail net inflow of 1.37 million [2] - Jinbo Biological: Main funds net outflow of 10.75 million, retail net outflow of 1.08 million [2] - Huaxi Biological: Main funds net outflow of 13.55 million, retail net inflow of 12.55 million [2] - Aimeike: Main funds net outflow of 39.11 million, retail net inflow of 7.09 million [2]

Recent Events - The arbitration case between the company's subsidiary REGEN and Datoo regarding the agency rights for the AestheFill product is still under review. On January 30, 2026, the Shenzhen International Arbitration Court revoked the previous temporary sales restriction on REGEN, but the final outcome of the case has not yet been announced, which may impact the company's future business layout [2]. Business Development - The company is accelerating its diversification efforts, with the anti-hair loss product Minoxidil having obtained a drug registration certificate and is advancing in market promotion. The bone structure beauty filler product "Gekela" has received positive market feedback. These new products may become future growth points, although specific sales targets have not been publicly disclosed [3]. Financial Performance - In the first three quarters of 2025, the company reported revenue of 1.865 billion yuan and a net profit attributable to shareholders of 1.093 billion yuan, representing year-on-year declines of 21.49% and 31.05%, respectively. The gross profit margin remains high at 93.36%. The ongoing pressure on performance is attributed to intensified industry competition [4]. Stock and Capital Performance - Recent stock price fluctuations have been significant, with two large block trades occurring on February 3, 2026, at a transaction price of 113 yuan per share, reflecting a discount of 23.43%. On February 5, the stock price increased by 5.09% to 155.87 yuan per share. The flow of funds and changes in institutional holdings may reflect market sentiment [5].

（文章来源：证券日报） 证券日报网讯 2月11日，爱美客在互动平台回答投资者提问时表示，截至2026年2月10日，公司股东人 数为62417户。 ...