（文章来源：每日经济新闻） 每经AI快讯，Wind数据显示，根据上市公司权益分配方案梳理统计，54只A股今日股权登记。其中，54 股拟派息，爱美客、江顺科技、焦点科技分红力度最大，每10股分别派息12.00元、8.00元、6.00元。 ...

Core Viewpoint - New Oxygen has launched a new product, Miracle Youth 3.0, priced at 2999 yuan, which is considered the lowest price in the domestic "youth needle" market, significantly lower than the market average of 12800 yuan per injection [2][3] Group 1: Product Launch and Pricing Strategy - New Oxygen's new product, Miracle Youth 3.0, is a customized version of the "youth needle" developed in collaboration with Jiangsu Xihong Biological Pharmaceutical Co., Ltd [2] - The average market price for "youth needles" in China is around 12800 yuan, while prices in neighboring countries can be as low as one-third of that [3] - New Oxygen's pricing strategy aims to lower its own profit margins to make the product more accessible, without compromising on quality or service [3] Group 2: Market Dynamics and Competition - The "youth needle" market in China is experiencing significant competition, highlighted by the ongoing dispute between Jiangsu Wuzhong and Aimeike over distribution rights [5][6] - As of 2023, the market size for micro-injection products in China reached 212 billion yuan, with projections to grow to 653 billion yuan by 2028, reflecting a compound annual growth rate of 25.3% [4] - The regenerative anti-aging segment is the fastest-growing sub-market, with a compound annual growth rate of 38.2% [4] Group 3: Regulatory and Legal Issues - Jiangsu Wuzhong has faced challenges regarding the exclusive distribution agreement for the "youth needle" product, with Aimeike's acquisition of Regen leading to a legal dispute [5][6] - The Shenzhen International Arbitration Court has issued temporary measures regarding the sales of the product in question, indicating ongoing legal complexities in the market [6][7] - Industry experts suggest that the commercial disputes reflect the significant potential and allure of the "youth needle" market, with expectations for further price reductions as more products gain approval [7]

Core Viewpoint - The arbitration counterclaim filed by REGEN, a subsidiary of Aimeike, against Datuo Company has been accepted by the Shenzhen International Arbitration Court, indicating a significant legal dispute regarding exclusive distribution rights and contract obligations [1] Summary by Relevant Sections - **Arbitration Details** - REGEN's counterclaim seeks to confirm the termination of Datuo Company's exclusive agency rights for the AestheFill product in mainland China, excluding Hong Kong, Macau, and Taiwan [1] - The counterclaim also aims to annul the EXCLUSIVE DISTRIBUTORSHIP AGREEMENT and its amendments dated January 15, 2021, and December 22, 2021 [1] - REGEN requests compensation for reasonable expenses incurred in handling the case, including legal fees, preservation fees, and travel expenses, along with the arbitration costs to be borne by Datuo Company [1] - **Background of the Dispute** - Datuo Company has initiated arbitration regarding a distribution contract dispute with REGEN, which REGEN claims is due to serious breaches of contract by Datuo [1] - REGEN asserts that the termination of the contract and the exclusive agency rights are justified and not attributable to any fault on its part [1]

Core Viewpoint - REGEN, a subsidiary of Aimeike Technology Development Co., Ltd., is involved in an arbitration dispute with Datuo Medical Devices (Shanghai) Co., Ltd. regarding a distribution contract, with the arbitration accepted by the Shenzhen International Arbitration Court on September 23, 2025, and the impact on Aimeike's profits remains uncertain [1]. Group 1 - REGEN received a notice of arbitration on August 13, 2025, regarding the distribution contract dispute initiated by Datuo, which was accepted by the court [1]. - On September 10, 2025, an emergency arbitrator made a decision on Datuo's request for interim measures [1]. - REGEN's counterclaim requests the termination of Datuo's exclusive agency rights for AestheFill products in mainland China, the cancellation of related agreements, and compensation for reasonable expenses incurred due to the arbitration [1]. Group 2 - Prior to this announcement, Aimeike and its subsidiaries had undisclosed small lawsuits and arbitration matters involving approximately 11.1581 million yuan, accounting for 0.14% of the company's most recent audited net assets [2]. - As of the announcement date, there are no undisclosed single case amounts exceeding 10% of the company's most recent audited net assets or absolute amounts over 10 million yuan [2]. - REGEN has engaged a professional legal team to handle the arbitration and will protect the legal rights of the company and its shareholders [2].

Investment Rating - The report maintains a "Positive" outlook on the beauty and personal care industry, highlighting the resilience of domestic brands and the impact of new consumption trends [2]. Core Insights - The beauty and personal care sector experienced a robust recovery in H1 2025, with a retail sales growth of 2.9%, reversing the previous decline due to favorable consumption policies and improved income expectations [5][6]. - Domestic brands are gaining market share, with top local brands now competing closely with international counterparts, indicating a significant shift in consumer preferences [10][11]. - The report categorizes companies into three groups based on performance: those with strong brand matrices benefiting from multi-brand strategies, those capitalizing on consumer trends like domestic brands and collagen products, and those showing signs of strategic improvement [20][23]. Summary by Sections Industry Overview - The beauty market is projected to grow steadily, with a forecasted retail sales decline of 1.1% in 2024, followed by a recovery in H2 2025 [5][6]. - The domestic market share is expected to increase, with local brands achieving significant breakthroughs in both skincare and makeup segments [10][11]. Company Performance - **Cosmetics Sector**: - Major companies like Up Beauty and Proya reported revenue growth of 17.3% and 7.2% respectively in H1 2025, with net profits increasing by 30.6% and 13.8% [20][21]. - Other notable performers include Marubi and Water Sheep, with revenue growth of 30.8% and 9.0% respectively [21][22]. - **Personal Care Sector**: - Companies like Ruibin and Zhenjia showed remarkable growth, with Ruibin's revenue increasing by 67.6% and Zhenjia's by 157.11% in H1 2025 [5][20]. - **Medical Aesthetics Sector**: - Companies like Aimeike and Langzi reported mixed results, with Aimeike's revenue declining by 21.6% while Langzi's net profit surged by 64.1% [20][24]. Investment Recommendations - The report recommends investing in companies with strong brand matrices and low PE multiples, such as Up Beauty and Proya, as well as those benefiting from the Douyin traffic boost like Marubi and Water Sheep [20][24]. - It also suggests focusing on high-value segments and innovative products from brands like Ruibin and Furuida, and highlights opportunities in the maternal and infant sector with companies like Shengbeila and Haiziwang [20][24].

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]