证券代码：300896 证券简称：爱美客 公告编号：2025-034 号 爱美客技术发展股份有限公司 关于 2025 年半年度利润分配预案的公告 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。 一、审议程序 爱美客技术发展股份有限公司（以下简称"公司"）于 2025 年 8 月 18 日召 开第三届董事会第二十次会议、第三届监事会第十六次会议，会议审议通过了《关 于〈公司 2025 年半年度利润分配预案〉的议案》，本议案尚需提交公司 2025 年第二次临时股东大会审议。 二、2025 年半年度利润分配预案内容 公司 2025 年半年度合并报表归属于母公司所有者的净利润为 78,946.25 万 元，其中母公司实现净利润 79,719.91 万元。截至 2025 年 6 月 30 日，合并报表 中累计可供股东分配的利润为 401,953.94 万元，母公司累计可供分配利润为 422,958.25 万元。 基于公司持续、稳健的盈利能力和良好的财务状况，以及对未来发展的良好 预期，在符合利润分配原则、保证公司正常经营和长远发展的前提下，为积极合 理回报投资者、共享企 ...

Investment Rating - The investment rating for the pharmaceutical and biotechnology industry is "Positive" and the rating has been maintained [2] Core Views - The report highlights the release of the preliminary list of innovative drugs for commercial insurance, focusing on companies with leading clinical value and commercialization capabilities [4] - The pharmaceutical and biotechnology industry index increased by 2.21%, ranking 21st among 31 primary industries, underperforming the CSI 300 index which rose by 3.64% [5][16] - The report suggests a focus on companies in the oncology, metabolic diseases, and rare diseases treatment sectors, particularly those with strong clinical pipelines and commercialization capabilities [8] Industry Overview - The pharmaceutical and biotechnology industry PE (TTM, excluding negative values) as of August 15, 2025, is 31.38x, up from 30.97x in the previous period, indicating an upward valuation trend but still below the average [5][21] - The top three sub-industries by PE are vaccines (62.98x), hospitals (40.19x), and medical consumables (39.11x), while the lowest is pharmaceutical distribution (15.85x) [21] Important Industry News - The National Healthcare Security Administration (NHSA) has published the preliminary list of innovative drugs for commercial insurance, with over 100 innovative drugs included, covering areas such as oncology and rare diseases [8][26] - The NHSA is also advancing the reform of medical insurance payment methods, emphasizing a disease-based payment model to enhance the quality of healthcare services [30] Company Dynamics - Insmed's "Brensocatib" has received FDA approval for treating non-cystic fibrosis bronchiectasis, marking a significant advancement in targeted therapies for this condition [42][44] - Precigen's "Papzimeos" has been approved by the FDA as the first-in-class gene therapy for recurrent respiratory papillomatosis, providing a new treatment option for patients [48] - The approval of "博优平" (Dulaglutide injection) by 博安生物 marks it as the first domestically produced biosimilar of its kind, aiming to compete in the diabetes treatment market [49][50]

Market Performance - The medical beauty sector increased by 1.03% on August 18, with Jinbo Biological leading the gains [1] - The Shanghai Composite Index closed at 3728.03, up 0.85%, while the Shenzhen Component Index closed at 11835.57, up 1.73% [1] Individual Stock Performance - Jinbo Biological (832982) closed at 308.46, with a rise of 3.60% and a trading volume of 16,000 shares [1] - Aimeike (300896) closed at 183.87, up 1.09% with a trading volume of 43,400 shares [1] - Huaxi Biological (688363) closed at 53.84, increasing by 1.01% with a trading volume of 49,300 shares [1] - *ST Meigu (000615) closed at 3.21, up 0.31% with a trading volume of 107,200 shares [1] Capital Flow Analysis - The medical beauty sector experienced a net outflow of 7.81 million yuan from main funds, while retail funds saw a net outflow of 22.98 million yuan [1] - Speculative funds had a net inflow of 30.79 million yuan [1] Detailed Capital Flow for Individual Stocks - Aimeike (300896) had a main fund net inflow of 15.99 million yuan, with a retail net outflow of 34.19 million yuan [2] - *ST Meigu (000615) saw a main fund net inflow of 0.25 million yuan, with a retail net outflow of 1.13 million yuan [2] - Huaxi Biological (688363) experienced a main fund net outflow of 24.06 million yuan, while retail funds had a net inflow of 1.23 million yuan [2]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Views - The retail sector shows steady recovery with a year-on-year increase of 4.8% in total retail sales from January to July 2025, and a 3.7% increase in July alone [5][25] - Online channels continue to grow, while offline growth rates are marginally slowing down; specific categories like gold and jewelry, as well as cosmetics, show significant improvement [5][30] - The report emphasizes the importance of consumer sentiment and suggests focusing on high-growth segments such as gold jewelry and domestic beauty brands [8][34] Summary by Sections Retail Market Overview - The retail index closed at 2214.55 points, up 0.44% for the week, underperforming the Shanghai Composite Index which rose by 0.86% [7][16] - The commercial property management sector saw the highest increase this week, while the jewelry sector has led the gains since the beginning of 2025 with a 30.19% increase [20][22] Retail Sales Data - In July 2025, retail sales reached 38,780 billion yuan, with a year-on-year growth of 3.7% [25] - Online retail sales for the first seven months of 2025 reached 86,835 billion yuan, growing by 9.2% year-on-year, with physical goods online sales at 70,790 billion yuan, up 6.3% [27][28] Key Investment Themes - **Gold and Jewelry**: Focus on brands with differentiated product offerings and consumer insights, recommending companies like Laopuhuangjin and Chaohongji [8][34] - **Cosmetics**: Highlighting the rise of domestic brands and the need for innovation in product offerings, with recommendations for brands like Maogeping and Pola [8][35] - **Offline Retail**: Emphasizing the transformation of retail enterprises to adapt to changing consumer behaviors, recommending companies like Yonghui Supermarket and Aiyingshi [8][34] - **Medical Aesthetics**: Suggesting investment in companies with differentiated product lines, recommending Aimeike and Kedi-B [8][36] Company Performance Highlights - Laopuhuangjin reported a revenue of 85.06 billion yuan in 2024, with a net profit increase of 253.9% [40] - Maogeping achieved a revenue of 38.85 billion yuan in FY2024, with a growth of 34.6% [36] - Yonghui Supermarket's revenue for Q1 2025 was 174.79 billion yuan, reflecting a decline of 19.3% [36]

Group 1 - The stock price of Aimeike is reported at 181.89 yuan, down 0.37% from the previous trading day, with a trading range of 179.05 yuan to 182.56 yuan and a transaction amount of 772 million yuan [1] - Aimeike is a leading company in the field of biological medical soft tissue repair materials in China, focusing on the research, production, and sales of medical beauty-related products, including injectable sodium hyaluronate series and polycaprolactone facial implant lines [1] - The company recently announced on its investor interaction platform that its semaglutide injection is indicated for weight management, and the project is currently progressing normally [1] Group 2 - Aimeike is acquiring the South Korean company REGEN to introduce advanced overseas technology and accelerate product iteration and upgrades [1] - Aimeike's subsidiary, REGEN, is involved in an arbitration case amounting to 1.6 billion yuan, which has not yet been heard in court [1] - Data shows that Aimeike experienced a net outflow of 120 million yuan in main funds on the day, with a cumulative net outflow of 245 million yuan over the past five days [1]

Core Viewpoint - The China Securities Index for Healthcare Equipment and Services has shown significant growth, indicating a positive trend in the healthcare sector [1]. Group 1: Index Performance - The CSI Healthcare Equipment and Services Index increased by 1.49%, reaching 15,129.06 points, with a trading volume of 32.457 billion [1]. - Over the past month, the index has risen by 9.35%, by 9.86% over the last three months, and by 8.89% year-to-date [1]. Group 2: Index Composition - The index is composed of listed companies in the healthcare sector, reflecting the overall performance of these companies [1]. - The top ten weighted companies in the index include Mindray Medical (9.08%), United Imaging (7.41%), Aier Eye Hospital (7.13%), and others [1]. - The index's holdings are primarily from the Shenzhen Stock Exchange (59.69%) and the Shanghai Stock Exchange (40.31%) [1]. Group 3: Industry Representation - The index exclusively represents the pharmaceutical and healthcare industry, with a 100% allocation to this sector [1]. Group 4: Index Adjustment and Fund Tracking - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2]. - Public funds tracking the healthcare index include various Southern and Tianhong funds, as well as ETFs from multiple asset management companies [2].

Group 1 - The core viewpoint of the article is that Aimeike (300896.SZ) is progressing normally with its project related to semaglutide for weight management, while the product from Yinnuo Pharmaceutical is aimed at glucose reduction [1] - Aimeike has been developing its semaglutide project for three years and has invested a significant amount of funds into it [3] - There is a concern regarding competition between Aimeike's semaglutide and Yinnuo Pharmaceutical's product, prompting questions about the company's strategic decisions in the current market environment [3]

（文章来源：证券日报） 证券日报网讯爱美客8月15日在互动平台回答投资者提问时表示，公司在引进海外先进技术、开展海外 临床试验与注册、拓展海外市场等方面持续探索。收购韩国REGEN公司不仅将国外先进的产品、技术 与服务引入国内，同时可以利用REGEN公司丰富的市场经验和渠道实现产品出海。公司通过收购项目 获取产品和技术，缩短自主研发的时间成本，加速产品迭代升级，从而不断提升公司的核心竞争力。 ...

Group 1 - The company, Aimeike (300896), emphasizes a steady development philosophy in its operations [1] - The company aims to enhance market competitiveness through improved product performance, differentiation, service quality, and brand influence [1] - The long-term strategy is believed to be more beneficial for the company's sustainable development [1]

Group 1 - The medical beauty sector increased by 0.43% on August 15, with *ST Meigu leading the gains [1] - The Shanghai Composite Index closed at 3696.77, up 0.83%, while the Shenzhen Component Index closed at 11634.67, up 1.6% [1] - Key stocks in the medical beauty sector showed varied performance, with *ST Meigu closing at 3.20, up 1.59%, and Aimeike down 0.37% at 181.89 [1] Group 2 - On the same day, the medical beauty sector experienced a net outflow of 1.09 billion yuan from institutional investors, while retail investors saw a net inflow of 69.52 million yuan [2] - The data indicates a mixed sentiment among different types of investors in the medical beauty sector [2]