证券代码：300896 证券简称：爱美客 公告编号：2025-021 号 爱美客技术发展股份有限公司 2、截至本公告披露日，公司回购专用证券账户中股份数量为 1,165,874股。 公司回购专用证券账户中的股份不享有利润分配、公积金转增股本等权利，公司 拟以2024年年末总股本302,592,061股扣除公司回购专用证券账户持有的股份 1,165,874股后的301,426,187股为基数进行本次权益分派。 3、根据公司2024年度利润分配方案，公司总股本折算每股现金红利如下：本 次 现 金 分 红 总 额 = 实 际 参 与 现 金 分 红 的 股 本 × 每 10 股 分 红 金 额 ÷ 10 股 =301,426,187股×38.000000元÷10股=1,145,419,510.60元，按照公司除权前总 股本（含回购股份）计算的每10股派息（含税）=1,145,419,510.60元÷ 302,592,061股*10=37.853587元。 在保证本次权益分派方案不变的前提下，公司2024年度权益分派实施后的除 权除息价格=（除权除息日前收盘价-按总股本（含回购股份）折算每股现金分红） ÷（1+每股转 ...

从指数持仓来看，中证全指医疗行业指数十大权重分别为：迈瑞医疗（14.15%）、爱尔眼科 （8.89%）、联影医疗（7.82%）、爱美客（4.05%）、惠泰医疗（4.0%）、鱼跃医疗（3.12%）、上海 医药（3.09%）、新产业（3.03%）、益丰药房（2.65%）、美年健康（2.5%）。 金融界4月22日消息，A股三大指数收盘涨跌不一，中证全指医疗行业指数 (医疗行业，932131)报537.08 点。 数据统计显示，中证全指医疗行业指数近一个月下跌5.24%，近三个月下跌0.28%，年至今下跌5.24%。 据了解，中证全指行业优选指数系列从中证全指行业中选取符合一定流动性与市值筛选条件的上市公司 作为指数样本，以反映各个行业内较具代表性与可投资性的上市公司证券的整体表现。该指数以2021年 12月31日为基日，以1000.0点为基点。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。遇临时调整时，当中证全指指数调整样本时，中证全指行业指数 ...

Core Viewpoint - The China Securities Index for Healthcare Equipment and Services has shown a recent increase, but it has experienced declines over the past month, three months, and year-to-date [1]. Group 1: Index Performance - The CSI Healthcare Equipment and Services Index rose by 1.17% to 13,221.28 points with a trading volume of 10.971 billion [1]. - Over the past month, the index has decreased by 9.68%, by 0.46% over the last three months, and by 4.54% 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 securities [1]. - The top ten weighted companies in the index include Mindray Medical (9.26%), Aier Eye Hospital (8.31%), and United Imaging Healthcare (7.36%) [1]. - The index's holdings are primarily from the Shenzhen Stock Exchange (60.12%) and the Shanghai Stock Exchange (39.88%) [1]. Group 3: Fund Tracking - Public funds tracking the healthcare index include several funds such as Southern CSI Healthcare Equipment and Services Link A, Tianhong CSI Healthcare Equipment and Services ETF, and others [2].

中国·北京 关于爱美客技术发展股份有限公司 2024 年度股东大会的法律意见书 北京市朝阳区建外大街甲 14 号广播大厦 5&9&10&13&17 层 邮编:100022 电话：(010)65219696 传真：（010）88381869 北京海润天睿律师事务所 法律意见书 北京海润天睿律师事务所 关于爱美客技术发展股份有限公司 2024 年度股东大会的法律意见书 致：爱美客技术发展股份有限公司 北京海润天睿律师事务所（以下简称"本所"）接受爱美客技术发展股份有 限公司（以下简称"公司"）的委托，指派律师李冬梅、潘仙出席公司 2024 年 度股东大会，并依据《中华人民共和国公司法》（以下简称"《公司法》"）、 《上市公司股东大会规则》（以下简称"《股东大会规则》"）等法律法规、规 范性文件及《爱美客技术发展股份有限公司章程》（以下简称"《公司章程》"） 的有关规定，对本次股东大会相关事项依法进行见证并发表法律意见。 为出具本法律意见书，本所律师出席了公司本次股东大会，审查了公司提供 的召开本次股东大会的有关文件。公司已向本所及本所律师承诺，其所提供的文 件和所作的陈述、说明是完整、真实和有效的，无任何隐瞒、遗 ...

爱美客技术发展股份有限公司 2024 年度股东大会决议公告 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。 证券代码：300896 证券简称：爱美客 公告编号：2025-020 号 特别提示： 1、本次股东大会没有出现否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1、会议通知： （1）公司董事会于 2025 年 3 月 20 日在中国证监会指定的创业板信息披露 网站巨潮资讯网（www.cninfo.com.cn）上刊登了《关于召开 2024 年度股东大会 的通知》（公告编号：2025-018）。 2、会议召开时间： （1）现场会议召开时间：2025 年 4 月 18 日 15:00 （2）网络投票时间：通过深圳证券交易所交易系统投票的时间为 2025 年 4 月 18 日上午 9:15-9:25，9:30-11:30 和下午 13:00-15:00；通过深交所互联网投 票系统（http://wltp.cninfo.com.cn）投票的时间为 2025 年 4 月 18 日 9:15-15:0 ...

Summary of Conference Call Notes Company and Industry - The discussion revolves around the company Aimeike and its positioning within the global medical aesthetics industry, particularly focusing on its recent acquisition of Region and the implications for its market strategy and growth potential [1][6][19]. Core Points and Arguments 1. **Market Dynamics and Expectations** - There is a significant change in the market's expectations regarding the company's beta and alpha, indicating a potential misalignment with current market perceptions [1]. - The medical aesthetics industry is experiencing a supply-driven demand boom, with a PEG ratio exceeding 2, suggesting strong valuation potential [2]. 2. **Product Development Challenges** - Aimeike has faced challenges in product innovation, with no new product approvals from 2022 to 2024, relying solely on existing products for growth [3]. - The company’s growth rate was only 5% last year, lagging behind the industry average, due to competitive pricing pressures and supply chain issues [4]. 3. **Financial Performance and Projections** - The company anticipates a modest growth of less than 10% for the year, with expectations of a flat performance in the first half [5]. - Aimeike aims to capture 20% of the global market by 2030, with current market share at approximately 10% [9]. 4. **Global Expansion Strategy** - Aimeike is preparing to expand internationally, with plans to list in Hong Kong and use the proceeds for acquisitions and market entry into Southeast Asia [6][7]. - The company lacks global production capacity and sales channels, which are critical for competing with industry giants like Allergan and Qmatch [7]. 5. **Acquisition of Region** - The acquisition of Region is seen as a strategic move to enhance Aimeike's product offerings and market presence, with a focus on leveraging Region's patented technologies [18][19]. - The deal is expected to provide Aimeike with a competitive edge, allowing for better pricing strategies and market positioning [19]. 6. **Sales Channel Optimization** - Aimeike plans to reassess its sales channels and agent relationships to improve performance, with a focus on setting higher sales targets and potentially restructuring agent agreements [13][14]. - The company believes that enhancing overseas sales channels can significantly boost growth, as current performance in international markets is underwhelming [26]. 7. **Future Product Cycles** - Aimeike is entering a new product cycle, with expectations for several new product launches in the coming years, which could drive growth [23][24]. - The company is optimistic about recovering from a slowdown in growth, projecting a return to a compound annual growth rate of 20-30% by 2026-2027 [21][22]. Other Important but Overlooked Content - The company is facing a critical juncture with its product pipeline and market strategy, and the upcoming financial reports are expected to provide more clarity on these issues [25]. - There is a potential for significant valuation adjustments based on the success of the Region acquisition and the effectiveness of the new sales strategies [26]. This summary encapsulates the key insights from the conference call, highlighting Aimeike's strategic direction, market challenges, and growth opportunities within the medical aesthetics industry.

Summary of Conference Call Records Company and Industry Overview - The conference call discusses the acquisition of 85% of South Korean Region Biotech by Aimeike for $190 million, focusing on the aesthetic medicine industry, particularly injectable products [1] - Region Biotech is recognized as the first in South Korea and the third globally to obtain approval for poly-L-lactic acid dermal fillers, with its main products being Essafil and Powerfield [1] Key Points and Arguments - **Financial Performance**: In the first three quarters of 2023 and 2024, the revenue was $80 million and $72 million respectively [1] - **Production Capacity**: The annual production capacity is expected to reach approximately 200,000 units, with a new factory under construction aiming for a million units by Q2 2024 [2] - **Sales Goals**: The sales target for 2025 is projected to be around $800 million to $1 billion, with an estimated output of 200,000 units [2] - **Profit Margins**: Profit margins vary significantly based on sales models, with direct sales potentially yielding over 50% margins, while agency sales may yield around 30-40% [3] - **Global Expansion Challenges**: Despite having approvals in 34 and 24 countries for its products, supply limitations may hinder global expansion until the new factory is operational in 2025 [3] - **Market Dynamics**: The aesthetic medicine market is fragmented, requiring substantial local sales teams for effective promotion, which may limit short-term overseas revenue contributions [4] - **Exclusive Agency Rights**: Aimeike has secured a ten-year exclusive agency agreement for Essafil in China, limiting Region Biotech's ability to engage in related business during this period [5] - **Profit Outlook**: The potential sales volume for 2026 could reach 250,000 to 300,000 units, with profits exceeding $600 million, although factory output may limit actual contributions to around $150 million to $200 million [6] - **Market Valuation**: Aimeike's market capitalization increased by approximately 15%, reaching around $61 billion, with projected earnings for 2024 estimated at $2 billion [7] Additional Important Insights - **Sales Growth Projections**: The company anticipates steady growth in sales volume of around 10% to 15% for its products in 2025 [8] - **Product Pricing Trends**: A potential 10% decrease in product prices is expected, which may enhance sales volume through increased discounts [8] - **Marketing Improvements**: The company has improved its marketing strategies, focusing on targeted support for institutions and reallocating budget towards order subsidies [9] - **New Product Launches**: The company is actively pursuing clinical registrations for botulinum toxin, with expectations for market approval later in the year [9]

Core Viewpoint - The China Securities Index for Healthcare Equipment and Services has shown a mixed performance, with a recent increase but a decline over the past month and year-to-date [1] Group 1: Index Performance - The CSI Healthcare Equipment and Services Index rose by 0.32% to 13,285.51 points, with a trading volume of 13.924 billion yuan [1] - Over the past month, the index has decreased by 8.06%, while it has increased by 4.05% over the last three months and has declined by 3.25% 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 securities [1] - The top ten weighted companies in the index include Mindray Medical (9.16%), Aier Eye Hospital (8.31%), and United Imaging Healthcare (7.43%) [1] - The index is primarily composed of companies listed on the Shenzhen Stock Exchange (60.27%) and the Shanghai Stock Exchange (39.73%) [1] Group 3: Sample Adjustment and Fund Tracking - The index samples are adjusted biannually, with adjustments occurring on the second Friday of June and December [2] - Public funds tracking the healthcare index include several funds from Southern Asset Management and Tianhong Asset Management [2]

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Insights - The company reported a revenue of 3.026 billion yuan for 2024, representing a year-on-year growth of 5.45%, and a net profit attributable to shareholders of 1.958 billion yuan, which is a 5.33% increase year-on-year. A cash dividend of 38 yuan (including tax) is proposed for every 10 shares held [2][6]. Summary by Sections Financial Performance - In Q4 2024, the company experienced revenue pressure, achieving 650 million yuan, a year-on-year decline of 7%, and a net profit of 372 million yuan, down 15.5% year-on-year. The annual revenue breakdown for 2024 was 810 million, 850 million, 720 million, and 650 million yuan for Q1 to Q4, respectively, with changes of +28%, +2.35%, +1.1%, and -7% [12]. - For the entire year, the solution and gel products maintained stable growth, with revenue from solution products at 1.7 billion yuan (up 4.4% year-on-year) and gel products at 1.2 billion yuan (up 5% year-on-year). Direct sales channels generated approximately 2 billion yuan in sales (up 12.4%), while distribution channels saw a decline of 6% to about 1 billion yuan [12]. - The company maintained a gross margin of 95% for the year, with the gross margin for solution products narrowing by 0.72 percentage points and for gel products increasing by 0.49 percentage points. The R&D expense ratio rose to 10% [12]. Product Development and Market Outlook - The company has a rich pipeline of products in development, including a medical-grade polyvinyl alcohol gel for correcting chin retraction, which has received a Class III medical device registration certificate. Other products are in various stages of approval [12]. - The company plans to acquire a controlling stake in South Korea's REGEN, which is expected to enhance its regenerative materials product line and expand its global market presence [12]. - EPS forecasts for 2025, 2026, and 2027 are 7.12, 7.92, and 8.68 yuan, respectively, supporting the "Buy" rating [12].

Investment Rating - The report indicates a positive outlook for the textile and apparel industry, highlighting potential recovery opportunities due to evolving tariff policies and domestic demand [5][9]. Core Insights - The manufacturing sector is expected to see a valuation recovery as the peak of risk aversion related to tariff policies has passed, with major brands maintaining order volumes and shipment schedules [5][9]. - The brand sector is poised for a valuation recovery driven by improved consumer sentiment and policy support, particularly in discretionary spending categories like apparel [5][9]. Industry Data Tracking - The Cotlook A index and China cotton price index decreased by 1.3% and 4.2% respectively, while wool prices fell by 4.3% [27]. - In March 2025, Vietnam's textile and apparel exports increased by 14.77% year-on-year, with footwear exports rising by 15.77% [31][33]. - Retail sales in China showed a year-on-year growth of 4% in the first two months of 2025, with notable increases in categories such as clothing and home appliances [24][25]. Company Dynamics - Anta Sports reported a double-digit revenue growth in Q1 2025, with a significant increase in sales from its various brands [3]. - Huali Group's revenue for 2024 reached 24 billion yuan, reflecting a 19.35% year-on-year increase, driven by both returning and new customers [3]. - Taiping Bird's Q1 2025 revenue declined by 7% year-on-year, but the company is expected to benefit from strategic adjustments and improved gross margins [3]. Market Performance - The textile and apparel sector experienced a decline of 5.72% this week, underperforming compared to the Shanghai Composite Index [6][14]. - The report highlights the performance of individual stocks, with notable gains from companies like Wan Shili and Tai Mu Shi, while companies like Kai Run and Mu Gao Di faced significant declines [21][22].