Core Viewpoint - Aimeike's stock price has shown a slight increase of 2.03% this year, with fluctuations in trading performance over various time frames, indicating a mixed market sentiment towards the company [2]. Group 1: Stock Performance - As of January 5, Aimeike's stock price reached 144.60 yuan per share, with a trading volume of 3.75 billion yuan and a market capitalization of 437.55 billion yuan [1]. - Year-to-date, Aimeike's stock has increased by 2.03%, with a 0.77% rise over the last five trading days and a 2.98% increase over the last 20 days, while experiencing a decline of 19.85% over the past 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Aimeike reported a revenue of 1.865 billion yuan, representing a year-on-year decrease of 21.49%, and a net profit attributable to shareholders of 1.093 billion yuan, down 31.05% year-on-year [2]. Group 3: Business Overview - Aimeike, established on June 9, 2004, and listed on September 28, 2020, specializes in the research, production, and sales of biomedical soft tissue repair materials [2]. - The company's revenue composition includes 57.27% from solution-based injection products, 37.97% from gel-based injection products, 3.01% from other products, 1.50% from freeze-dried powder injection products, and 0.26% from facial implant lines [2]. Group 4: Shareholder Information - As of December 19, Aimeike had 61,700 shareholders, an increase of 2.23% from the previous period, with an average of 3,378 circulating shares per shareholder, a decrease of 2.18% [2]. - The company has distributed a total of 3.887 billion yuan in dividends since its A-share listing, with 3.012 billion yuan distributed over the last three years [3].

Investment Rating - The report maintains a "Positive" investment rating for the beauty and personal care industry, specifically focusing on PDRN applications [6]. Core Insights - The report highlights that PDRN (Polydeoxyribonucleotide) is expected to unleash stronger commercial potential due to increasing registrations and search metrics. The extraction of PDRN is transitioning from animal sources to microbial fermentation and synthetic biology, laying a solid foundation for accelerated applications in the medical beauty and skincare sectors [3][4]. - The report emphasizes that domestic beauty companies are likely to redefine the value boundaries of PDRN, with leading firms accelerating their strategies in this competitive landscape [3][4]. Summary by Sections PDRN Overview - PDRN, derived from salmon and other sources, has a high similarity to human DNA (98%) and is known for its skin repair and cell regeneration properties. Its historical development spans from the 15th century to its current applications in medical aesthetics and cosmetics [8][13][19]. Market Growth Potential - The PDRN market is projected to grow significantly, with estimates indicating an increase from USD 0.72 billion in 2024 to USD 8.55 billion by 2031, reflecting a CAGR of 43%. The demand for anti-aging products is a core driver of this growth [8][30]. Competitive Landscape - Domestic companies are actively entering the PDRN medical and skincare sectors, with significant advancements in extraction technologies. Companies like Huaxi Biological and Lepu Medical are leading the charge in developing PDRN-based products [8][30][34]. Key Mechanisms and Benefits - PDRN operates through two main mechanisms: acting as an agonist for the adenosine A2A receptor to suppress inflammation and providing nucleotides for DNA synthesis, thus promoting cell regeneration and tissue repair [34][36]. - The primary benefits of PDRN include skin repair, anti-inflammatory effects, and anti-aging properties, making it suitable for various cosmetic and medical applications [34][39].

Core Viewpoint - The medical beauty sector experienced a decline of 0.97% on December 29, with Ai Meike leading the drop, while the overall Shanghai Composite Index rose slightly by 0.04% [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3965.28, and the Shenzhen Component Index closed at 13537.1, down by 0.49% [1] - The medical beauty sector's individual stock performance showed varied results, with *ST Meigu leading with a rise of 5.10% to a closing price of 3.71, while Ai Meike fell by 2.29% to 141.03 [1] Group 2: Capital Flow - The medical beauty sector saw a net outflow of 74.18 million yuan from main funds, while retail investors contributed a net inflow of 29.66 million yuan [1] - Individual stock capital flow indicated that Ai Meike had a significant net outflow of 74.86 million yuan from main funds, despite a net inflow of 36.80 million yuan from retail investors [2]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Views - The retail industry is experiencing a transformation with a focus on emotional consumption and innovative product offerings, particularly in the jewelry and cosmetics sectors [6][33] - Companies like潮宏基 and毛戈平 are leveraging multi-channel strategies to enhance brand visibility and product sales, indicating a strong market presence [26][31] Summary by Sections Retail Market Overview - The retail index closed at 2462.73 points, with a weekly increase of 0.16%, underperforming the Shanghai Composite Index, which rose by 1.88% [5][15] - The retail sector has seen a year-to-date increase of 10.00%, lagging behind the Shanghai Composite Index's 18.26% rise [15][19] Company Highlights - **潮宏基**: Achieved a revenue of 62.37 billion yuan in the first three quarters of 2025, up 28.4% year-on-year, with a net profit of 3.17 billion yuan, reflecting a 0.3% increase [42] - **毛戈平**: Launched the "琉光赋活" skincare series, set to debut on January 1, 2026, focusing on high-end skincare needs [31] - **周大福**: Reported a revenue of 389.86 billion HKD for FY2026H1, a slight decrease of 1.1%, but with a net profit increase of 0.1% [39] Investment Themes - **Gold and Jewelry**: Focus on brands with differentiated product offerings and consumer insights, recommending潮宏基 and老铺黄金 as key players [6][33] - **Offline Retail**: Emphasis on companies adapting to market changes, with recommendations for永辉超市 and爱婴室 [6][33] - **Cosmetics**: Highlighting brands that innovate with emotional value and safe ingredients, recommending毛戈平 and珀莱雅 [6][34] - **Medical Aesthetics**: Targeting differentiated product manufacturers and expanding medical aesthetic chains, with recommendations for爱美客 and科笛-B [6][34]

证券日报网讯12月25日，爱美客（300896）在互动平台回答投资者提问时表示，公司经营数据相关信 息，请以公司定期报告为准。 ...

南财智讯12月25日电，爱美客公告，公司拟对部分募集资金投资项目进行延期。涉及项目包括"基因重 组蛋白研发生产基地建设项目"，计划投资金额16,000.00万元，资金来源为首次公开发行股票募集资 金，用途为建设基因重组蛋白药物研发生产基地，因项目选址、生产工艺及投产时间等关键事项尚在论 证中，尚未开工，故将预定可使用状态日期由2025年12月31日延期至2027年12月31日；另一项目为"注 射用A型肉毒毒素研发项目"，计划投资金额12,000.00万元，资金来源相同，用途为研发注射用A型肉毒 毒素，因该产品注册上市申请尚在评审审批阶段，预计需较长时间，故将预定可使用状态日期由2025年 12月31日延期至2026年12月31日。本次延期未改变项目实施主体、投资总额及募集资金用途，不构成募 投资金用途变更，不影响公司主营业务发展和整体募资安排，不会对公司财务状况和正常经营产生不利 影响，符合公司长期发展规划。 ...

证券代码：300896 证券简称：爱美客 公告编号：2025-055 号 结合目前募集资金投资项目的实际情况，在项目实施主体、募集资金投资用 途及投资规模都不发生变更的情况下，董事会同意将募集资金投资项目"基因重 组蛋白研发生产基地建设项目"预计可使用状态的日期由 2025 年 12 月 31 日延 长至 2027 年 12 月 31 日；董事会同意将募集资金投资项目"注射用 A 型肉毒毒 素研发项目"预计可使用状态的日期由 2025 年 12 月 31 日延长至 2026 年 12 月 31 日。 1 第四届董事会第二次会议决议公告 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 爱美客技术发展股份有限公司（以下简称"公司"）第四届董事会第二次会 议于 2025 年 12 月 25 日在公司会议室以现场与通讯相结合方式召开。本次会议 应到董事 9 人，实到董事 9 人。董事长简军、董事石毅峰、简青、林新扬、陈重 和独立董事于玉群以通讯方式出席并进行表决。会议通知已于 2025 年 12 月 19 日通过邮件和电话的方式送达各位董事。 ...

证券代码：300896 证券简称：爱美客 公告编号：2025- 056 号 爱美客技术发展股份有限公司 关于部分募集资金投资项目延期的公告 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。 爱美客技术发展股份有限公司（以下简称"公司""爱美客"）于 2025 年 12 月 25 日召开第四届董事会第二次会议，审议通过了《关于部分募集资金投资 项目延期的议案》，公司拟在实施主体、募集资金用途等均维持不变的情况下， 对部分募集资金投资项目进行延期。现将相关事项公告如下： 根据《爱美客技术发展股份有限公司首次公开发行股票并在创业板上市招股 说明书》，公司本次公开发行股票募集资金扣除发行费用后，将投资以下项目： 单位：万元 | 募集资金投资项目 | 项目总投资 | 拟投入募集资 | 实际投入募集资金 | | --- | --- | --- | --- | | 序号 | | | | 一、募集资金基本情况 中国证券监督管理委员会于 2020 年 8 月 26 日出具证监许可[2020]1937 号 文，同意公司首次公开发行股票的注册申请。公司首次公开发行的人民币普通股 （A ...

中信证券股份有限公司 关于爱美客技术发展股份有限公司 部分募集资金投资项目延期的核查意见 中信证券股份有限公司（以下简称"中信证券"、"保荐机构"）作为爱美客技 术发展股份有限公司（以下简称"爱美客"或"公司"）首次公开发行股票并在深圳 证券交易所创业板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上 市公司募集资金监管规则》《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》等有关法律法规的要求，对公司部分募集资金投资项 目延期的事项进行了核查，具体情况如下： 中国证券监督管理委员会于2020年8月26日出具证监许可[2020]1937号文， 同意爱美客技术发展股份有限公司（以下简称"公司"）首次公开发行股票的注册 申请。公司首次公开发行的人民币普通股（A 股）股票已于 2020 年 9 月 28 日在 深圳证券交易所上市交易。 公司首次向社会公开发行的股票 3,020.00 万股，每股面值 1.00 元，发行价 格 118.27 元/股，募集资金总额为人民币 3,571,754,000.00 元，扣除与本次发行有 关的费用人民币（不含税）136,620,230.77 元，实 ...

Group 1 - The medical beauty sector increased by 0.38% compared to the previous trading day, with Aimeike leading the gains [1] - The Shanghai Composite Index closed at 3959.62, up 0.47%, while the Shenzhen Component Index closed at 13531.41, up 0.33% [1] - The net outflow of main funds in the medical beauty sector was 13.718 million yuan, while retail investors saw a net inflow of 11.2799 million yuan [1] Group 2 - The net inflow of funds from speculative investors in the medical beauty sector was 2.4381 million yuan [1] - Detailed fund flow data for individual stocks in the medical beauty sector is available in the accompanying table [1]