证券代码：300896 证券简称：爱美客 公告编号：2025-041 号 爱美客技术发展股份有限公司 关于公司控股子公司 REGEN Biotech, Inc.重大仲裁的进展公告 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。 重要内容提示： 1、案件所处的仲裁阶段：仲裁院已受理，尚未开庭审理。 2、上市公司所处的当事人地位：爱美客技术发展股份有限公司（以下简称 "公司"）控股子公司 REGEN Biotech，Inc.（以下简称"REGEN 公司"）为仲 裁请求的被申请人，仲裁反请求的申请人。 3、仲裁反请求的涉案金额：REGEN 公司因办理案件支出的合理费用，包括 但不限于律师费、保全费、差旅费等及本案仲裁费用。 4、对上市公司损益产生的影响：本次仲裁事项尚未开庭审理，对公司本期 利润或期后利润的影响存在不确定性。该仲裁事项对公司本期或期后经营成果的 影响以日后仲裁结果的实际发生金额为准。 （二）仲裁反请求事项 一、本次仲裁事项受理的基本情况 2025 年 8 月 13 日，公司的控股子公司 REGEN 公司向深圳国际仲裁院（以下 简称"深国仲"）主动获取 ...

Core Viewpoint - The beauty and medical aesthetics industry is experiencing a stark contrast, with medical aesthetic companies facing significant pressure while domestic beauty brands are actively entering the medical aesthetics market [3][4][5] Medical Aesthetics Industry Performance - Among 22 medical aesthetics companies, 14 reported a year-on-year decline in revenue during the first half of the year, with "medical aesthetics trio" member Aimeike experiencing a decline exceeding 20% [4][5] - The medical aesthetics market has been growing rapidly, with a projected market size of nearly 3,700 billion by 2025, growing at an annual rate of 17.4% since 2020 [4] Competitive Landscape - The medical aesthetics industry is facing intensified competition, particularly in upstream raw materials and equipment, leading to declining revenues for companies like Aimeike and Haohai Biological [6][7] - The consumer market is becoming more rational, with 73% of mid-to-high-income consumers planning to reduce or maintain their medical aesthetics spending in 2024 compared to 2023 [7] Domestic Beauty Brands' Strategies - Over 20 domestic beauty companies are entering the medical aesthetics sector, with brands like Naturating and Youshiyan launching new products aimed at the medical aesthetics market [10][12] - Baijuerling has launched three medical aesthetics brands, focusing on injection regeneration, post-operative care, and medical equipment, indicating a comprehensive approach to the medical aesthetics industry [16][20] Market Challenges and Opportunities - The market for medical aesthetics is becoming increasingly competitive, with established brands like 可复美 and 薇诺娜 already dominating the "medical device" segment, making differentiation a key challenge for new entrants [22][25] - Despite the challenges, the structural adjustment in the medical aesthetics industry presents opportunities for collaboration and innovation, as companies explore new product offerings and partnerships [25][27]

Market Overview - The Shanghai Composite Index rose by 0.22% on September 22, with 11 sectors experiencing gains, led by the electronics and computer sectors, which increased by 3.71% and 1.70% respectively [1] - The total net outflow of capital from the two markets was 18.892 billion yuan, with only four sectors seeing net inflows [1] Sector Performance - The electronics sector had the highest net inflow of capital, amounting to 9.357 billion yuan, coinciding with its 3.71% increase [1] - The computer sector followed with a net inflow of 2.081 billion yuan and a daily increase of 1.70% [1] - The power equipment sector experienced the largest net outflow, totaling 4.662 billion yuan, while the pharmaceutical and biological sector saw a net outflow of 3.371 billion yuan [1] Beauty and Personal Care Industry - The beauty and personal care sector declined by 1.36%, with a net outflow of 223 million yuan [2] - Out of 29 stocks in this sector, 8 rose while 21 fell [2] - The top three stocks with the highest net outflow included Aimeike, Pola, and Qingdao King, with outflows of 73.5801 million yuan, 27.1153 million yuan, and 24.1188 million yuan respectively [2] Capital Flow in Beauty and Personal Care - The top stock with net inflow in the beauty sector was Shuiyang Co., with an inflow of 13.0672 million yuan [3] - Other notable inflows were from Runben Co. and Jinsong New Materials, with inflows of 4.8789 million yuan and 2.4414 million yuan respectively [3] - The overall capital flow data indicates a challenging environment for the beauty and personal care sector, with significant outflows from major companies [2][3]

Group 1 - The medical beauty sector experienced a decline of 1.81% on September 22, with Ai Meike leading the drop [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] - Major stocks in the medical beauty sector showed varied performance, with *ST Meigu closing at 3.20, up 3.56%, and Ai Meike closing at 182.95, down 2.03% [1] Group 2 - The net outflow of main funds in the medical beauty sector was 93.56 million yuan, while retail investors saw a net inflow of 57.63 million yuan [1] - Specific stock fund flows indicated that Ai Meike had a net outflow of 78.89 million yuan, representing a decrease of 13.97% [2] - Huaxi Biological had a net outflow of 17.17 million yuan, down 8.74%, while *ST Meigu saw a net inflow of 2.50 million yuan, up 3.23% [2]

Core Viewpoint - Aimeike's stock price has shown volatility, with a recent decline of 2.00% and a total market capitalization of 55.374 billion yuan, reflecting a mixed performance in the market [1] Financial Performance - For the first half of 2025, Aimeike reported a revenue of 1.299 billion yuan, a year-on-year decrease of 21.59%, and a net profit attributable to shareholders of 789 million yuan, down 29.57% year-on-year [2] - Cumulative cash dividends since Aimeike's A-share listing amount to 3.887 billion yuan, with 3.012 billion yuan distributed over the past three years [3] Shareholder Information - As of September 10, 2025, Aimeike had 54,600 shareholders, a decrease of 0.91% from the previous period, with an average of 3,822 circulating shares per shareholder, an increase of 0.92% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, holding 6.9808 million shares (a decrease of 1.0906 million shares), and Huabao CSI Medical ETF, holding 5.0610 million shares (an increase of 0.0607 million shares) [3] Stock Performance - Aimeike's stock has increased by 2.40% year-to-date, but has seen a decline of 5.70% over the last five trading days and 5.19% over the last twenty days [1] - The stock's trading volume on September 22 was 188 million yuan, with a turnover rate of 0.49% [1] Business Overview - Aimeike, established on June 9, 2004, specializes in the research, production, and sales of biomedical soft tissue repair materials, with its main revenue sources being solution injection products (57.27%) and gel injection products (37.97%) [1] - The company operates within the beauty care and medical aesthetics industry, focusing on medical consumables [1]

Investment Rating - The report initiates coverage with a "Buy" rating for the company Water Sheep Co., Ltd. [14] Core Insights - The cosmetics and medical beauty sector has underperformed the market, with the Shenwan Beauty Care Index declining by 2.5% from September 12 to September 19, 2025 [3][4] - The upcoming Double 11 shopping festival is expected to drive significant growth for domestic brands, with recommendations to focus on strong alpha stocks [9][10] - Water Sheep Co., Ltd. is highlighted for its dual business model of proprietary and CP brands, with stable revenue projections of 4-5 billion yuan from 2021 to 2024 and an expected gross margin of 63.01% in 2024 [10][11] Summary by Sections Industry Performance - The cosmetics and medical beauty sector has shown weaker performance compared to the market, with specific indices declining [3][4] - The Shenwan Cosmetics Index fell by 2.6%, while the Shenwan Personal Care Index decreased by 0.6% [4][6] Upcoming Events - The Double 11 shopping festival preparations are in full swing, with domestic brands like Up Beauty and Proya launching new products to capture market share [9] - Key influencers are negotiating promotional strategies to enhance sales during the festival [9] Company Focus: Water Sheep Co., Ltd. - Water Sheep Co., Ltd. is positioned as a leading tech-driven beauty company with a stable revenue forecast and improving profit margins [10][11] - The company has a well-structured brand matrix and is expanding its high-end product lines, with significant growth in its proprietary brands [11][12] - Expected net profits for Water Sheep Co., Ltd. are projected to be 258 million, 331 million, and 398 million yuan for 2025, 2026, and 2027, respectively, indicating substantial growth [14] Market Trends - The Chinese beauty market is witnessing a shift towards domestic brands, with significant market share gains for local players [27] - The overall retail sales of cosmetics showed a growth of 5.1% in August 2025, indicating a recovery in consumer spending [18][21] International Recognition - Chinese beauty brands performed notably at the IFSCC conference, showcasing their advancements in cosmetic science and securing significant awards [22][24]

Core Viewpoint - Aimeike announced its profit distribution plan for the first half of 2025, proposing a cash dividend of 12.00 RMB per 10 shares to all shareholders [2] Summary by Relevant Sections - **Profit Distribution Plan** - The profit distribution plan is based on a total share capital of 301,426,187 shares, excluding 1,165,874 repurchased shares [2] - The cash dividend will be distributed on a per-share basis, amounting to 12.00 RMB (including tax) for every 10 shares held [2] - **Key Dates** - The record date for shareholders to be eligible for the dividend is September 25, 2025 [2] - The ex-dividend date is set for September 26, 2025 [2]

Dividend Plan Key Points - Dividend Standard: Cash dividend of 12 yuan per 10 shares (including tax) [1] - Total Dividend Amount: 361.71 million yuan, accounting for 45.82% of the net profit attributable to shareholders for the first half of 2025 [1] - Distribution Base: Based on total share capital of 302,592,061 shares minus repurchased shares of 1,165,874, resulting in a base of 301,426,187 shares [1] - No Stock Bonus: Only cash dividends will be distributed, with no capital reserve fund conversion into share capital [1] Key Dates - Share Registration Date: September 25, 2025 [1] - Ex-Dividend Date: September 26, 2025 [1] - Dividend Payment Date: September 26, 2025 [1] Ex-Dividend Arrangement - Dividend Calculation: 11.953764 yuan per 10 shares (including tax) [1] - Ex-Dividend Price: Closing price before the ex-dividend date minus 1.1953764 yuan [1] Additional Points - Repurchased shares of 1,165,874 will not participate in the dividend [1] - Adjustment of the restricted stock incentive plan's vesting price [1] - Minimum reduction price for certain specific shareholders adjusted to 34.16 yuan per share [1]

Group 1 - The company Aimeike announced a profit distribution plan, distributing 12 RMB in cash (including tax) for every 10 shares to all shareholders, based on approximately 301 million shares after excluding about 1.17 million repurchased shares [1] - The record date for the distribution is set for September 25, 2025, and the ex-dividend date is September 26, 2025 [1]

Core Viewpoint - The company Aimeike announced a cash dividend distribution of 1.2 yuan per share (before tax) for the first half of 2025, totaling 362 million yuan, which accounts for 45.82% of the net profit attributable to shareholders for the same period [1] Summary by Category - **Dividend Details** - A cash dividend of 1.2 yuan per share will be distributed [1] - The total amount of the dividend is 362 million yuan [1] - The dividend represents 45.82% of the net profit attributable to shareholders for the first half of 2025 [1] - **Shareholder Impact** - The dividend distribution does not involve stock bonuses or capital increases [1] - Shares repurchased by the company will not participate in the dividend distribution [1]