一、监事会会议召开情况 杭州可靠护理用品股份有限公司（以下简称"公司"）第五届监事会第十一 次（临时）会议于 2025 年 10 月 24 日在杭州市余杭区向往街 1118 号英国中心 T6-28 层公司会议室以现场及网络会议相结合的方式召开。会议通知已于 2025 年 10 月 20 日以电话及电子邮件等方式送达各位监事。本次会议应出席监事 3 人，实际出席监事 3 人（其中监事张雅冬女士以网络方式在线参会并审议表决）。 会议由监事会主席任绍楠先生主持，会议召开符合有关法律、法规、规章和《公 司章程》的规定。 二、监事会会议审议情况 1、审议通过《关于<2025 年第三季度报告>的议案》 证券代码：301009 证券简称：可靠股份 公告编号：2025-039 杭州可靠护理用品股份有限公司 第五届监事会第十一次（临时）会议决议公告 本公司及监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。 2025 年 10 月 28 日 1 经审议，监事会认为：公司《2025 年第三季度报告》的编制和审核程序符 合法律、行政法规和中国证监会的有关规定，报告内容真实、准确、完整地反映 了 ...

证券代码：301009 证券简称：可靠股份 公告编号：2025-038 杭州可靠护理用品股份有限公司 第五届董事会第十二次（临时）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。 二、董事会会议审议情况 1、审议通过《关于<2025 年第三季度报告>的议案》 《2025 年第三季度报告》具体内容详见公司同日披露在巨潮资讯网 （www.cninfo.com.cn）的相关公告。 本议案中的财务报告部分已经公司董事会审计委员会审议通过。 一、董事会会议召开情况 杭州可靠护理用品股份有限公司（以下简称"公司"）第五届董事会第十二 次（临时）会议于 2025 年 10 月 24 日在杭州市余杭区向往街 1118 号英国中心 T6-28 层公司会议室以现场及网络会议相结合的方式召开，会议通知已于 2025 年 10 月 20 日以电话及电子邮件等方式送达各位董事。本次会议应出席董事 7 人，实际出席董事 7 人（其中董事鲍佳女士、独立董事寿泓先生、独立董事肖炜 麟先生、独立董事景乃权先生以网络方式在线参会并审议表决），会议由董事长 金利伟先生主持，公司部分监事 ...

Financial Performance - The company's revenue for Q3 2025 was ¥280,534,838.99, representing a 4.59% increase year-over-year[5] - The net profit attributable to shareholders was -¥294,219.26, a decrease of 74.28% compared to the same period last year[5] - Total operating revenue for the current period reached ¥829,490,834.92, an increase of 5.4% compared to ¥789,105,083.96 in the previous period[26] - Net profit for the current period was ¥28,234,763.27, representing a 28.9% increase from ¥21,976,779.79 in the previous period[27] - The company's operating profit rose to ¥31,128,547.29, compared to ¥22,741,285.66, marking a significant increase of 37.5%[27] - The total comprehensive income attributable to the parent company was CNY 18,085,556.74, compared to CNY 22,073,000.56 in the previous period, reflecting a decrease of approximately 18%[28] - The total comprehensive income for the period was CNY 18,236,918.45, down from CNY 21,978,737.39 in the previous period, reflecting a decrease of approximately 17%[28] Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date was ¥89,716,017.68, showing a significant increase of 136.29%[13] - The company reported a cash balance of ¥728,613,271.18 as of September 30, 2025, an increase from ¥613,695,304.72 at the beginning of the period, reflecting a growth of approximately 18.7%[21] - The total cash and cash equivalents at the end of the period reached CNY 712,929,871.81, compared to CNY 531,134,102.01 in the previous period, indicating an increase of approximately 34%[31] - Cash inflows from operating activities totaled CNY 979,904,796.40, compared to CNY 927,738,782.40 in the previous period, showing an increase of approximately 6%[30] - The net cash flow from operating activities increased to CNY 89,716,017.68, up from CNY 37,968,489.31, representing a growth of about 136%[30] - The net cash flow from investing activities was negative at CNY -32,375,553.85, an improvement from CNY -247,698,015.22 in the previous period[30] - The total cash outflow from financing activities was CNY 172,510,859.36, compared to CNY 53,614,705.32 in the previous period, indicating a rise of approximately 221%[30] Assets and Liabilities - Total assets as of September 30, 2025, amounted to ¥2,150,851,067.60, reflecting a 2.93% increase from the end of the previous year[6] - Current liabilities totaled ¥691,734,484.93, an increase from ¥627,671,696.85, which is a rise of 10.2%[24] - Non-current liabilities decreased slightly to ¥47,496,944.24 from ¥50,386,438.76, a decline of 5.7%[24] - The company's equity attributable to shareholders decreased slightly by 0.04% to ¥1,333,510,388.01[6] - The total equity attributable to shareholders of the parent company was ¥1,333,510,388.01, a slight decrease from ¥1,334,074,525.27[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,604[15] - The top ten unrestricted shareholders include major stakeholders such as Jin Liwei, holding 20,477,321 shares, and Bao Jia, holding 19,797,671 shares[16] - The company has a repurchase account holding 5,435,800 shares, representing 2.00% of total shares[16] - A total of 2,664,200 shares were sold by specific shareholders from August 25 to August 29, 2025, accounting for 0.98% of the company's total share capital[20] - The company plans to reduce shares held by specific shareholders, with a maximum of 4,231,250 shares to be sold by one shareholder during the three-month period starting August 15, 2025[19] Investment and Expenses - The company reported a 959.95% increase in investment income, totaling ¥8,367,737.67 year-to-date[12] - The company reported an investment income of ¥8,367,737.67, compared to a loss of ¥973,044.01 in the previous period, indicating a significant turnaround[27] - Research and development expenses increased to ¥35,129,430.65, up from ¥32,856,479.39, indicating a growth of 6.9%[27] - The company experienced a 25.22% increase in taxes and surcharges, totaling ¥6,546,362.88 year-to-date[12] Accounts Receivable and Payable - Accounts receivable decreased to ¥177,645,177.51 from ¥202,398,244.10, representing a decline of approximately 12.2%[21] - The company’s accounts receivable financing increased to ¥20,526,279.27 from ¥16,353,004.10, showing a growth of approximately 25.9%[21] - The company’s prepayments rose to ¥28,694,630.14 from ¥26,009,895.98, reflecting an increase of about 10.3%[21] Borrowings - Short-term borrowings increased by 99.53% to ¥199,782,888.45, primarily due to an increase in bill discounting[11]

Core Insights - The company reported third-quarter revenue of 281 million, representing a year-on-year increase of 4.59% [1] - The net profit for the third quarter was a loss of 294,200, a decline of 74.28% [1] - For the first three quarters, the company achieved revenue of 829 million, reflecting a year-on-year growth of 5.12% [1] - The net profit for the first three quarters was 27.98 million, showing a year-on-year increase of 26.79% [1]

Market Overview - The personal care products sector experienced a decline of 0.34% on October 24, with Baiya Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance - Key stocks in the personal care sector showed varied performance, with the following notable changes: - Baiya Co., Ltd. (003006) closed at 22.77, down 1.94% with a trading volume of 63,800 shares and a turnover of 146 million [1] - Yanjing Co., Ltd. (300658) closed at 8.46, down 1.40% with a trading volume of 168,400 shares and a turnover of 145 million [1] - Jeya Co., Ltd. (301108) closed at 35.76, down 0.91% with a trading volume of 49,800 shares and a turnover of 185 million [1] - Other stocks like Beijia Co. (603059) and Zhongshun Jierou (002511) also saw minor declines [1] Capital Flow - The personal care products sector saw a net inflow of 2.96 million from institutional investors and a net inflow of 4.80 million from retail investors, while retail investors experienced a net outflow of 7.76 million [3] - Notable capital flows for specific stocks include: - Wanjian Medical (300888) had a net inflow of over 9.34 million from institutional investors, but a net outflow of 11.91 million from retail investors [3] - Liangmian Needle (600249) saw a net inflow of 7.46 million from institutional investors, while retail investors had a net inflow of 1.39 million [3] - Baiya Co., Ltd. (003006) had a net inflow of 5.32 million from institutional investors but a significant net outflow of 4.30 million from retail investors [3]

Market Overview - The personal care products sector increased by 0.82% on October 23, with Baiya Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Stock Performance - Baiya Co., Ltd. (003006) closed at 23.22, up 2.74% with a trading volume of 73,700 shares and a turnover of 171 million yuan [1] - Beijia Co. (603059) closed at 34.56, up 1.98% with a trading volume of 38,800 shares and a turnover of 134 million yuan [1] - Dengkang Oral (001328) closed at 39.14, up 1.90% with a trading volume of 28,400 shares and a turnover of 112 million yuan [1] - Zhongshun Jiesang (002511) closed at 8.48, up 1.68% with a trading volume of 83,800 shares and a turnover of 70.46 million yuan [1] - Yanjing Co. (300658) closed at 8.58, up 1.30% with a trading volume of 175,500 shares and a turnover of 146 million yuan [1] - Other notable performances include Haoyue Nursing (605009) at 33.36, up 0.97%, and Runben Co. (603193) at 26.54, up 0.38% [1] Capital Flow - The personal care products sector saw a net inflow of 17.6 million yuan from institutional investors, while retail investors contributed a net inflow of 19.3 million yuan [2] - However, speculative funds experienced a net outflow of 36.9 million yuan [2] Detailed Capital Flow Analysis - Baiya Co., Ltd. had a net inflow of 19.28 million yuan from institutional investors, while it faced a net outflow of 11.41 million yuan from speculative funds [3] - Beijia Co. experienced a net inflow of 16.18 million yuan from institutional investors but a net outflow of 22.75 million yuan from speculative funds [3] - Dengkang Oral saw a net inflow of 4.54 million yuan from institutional investors, with minor outflows from other categories [3] - Zhongshun Jiesang had a net inflow of 1.60 million yuan from institutional investors, while speculative funds showed a net outflow [3]

Market Overview - The personal care products sector experienced a decline of 0.63% on October 22, with Baiya Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Key stocks in the personal care sector showed varied performance, with Jieya Co., Ltd. increasing by 4.97% to a closing price of 36.95 [1] - Baiya Co., Ltd. closed at 22.60, down 1.95%, with a trading volume of 76,400 shares and a transaction value of 173 million yuan [2] - Other notable declines included Duncon Oral Care down 1.36% and Stable Medical down 0.86% [2] Capital Flow - The personal care products sector saw a net outflow of 26.09 million yuan from institutional investors, while retail investors had a net inflow of 21.82 million yuan [2] - The capital flow data indicates that retail investors were more active in the market compared to institutional investors [3] Individual Stock Capital Flow - For individual stocks, the net inflow for Jieya Co., Ltd. was 8.44 million yuan from institutional investors, while it faced a net outflow of 20.48 million yuan from retail investors [3] - Duncon Oral Care had a net inflow of 1.64 million yuan from institutional investors, but also saw outflows from retail investors [3]

Core Insights - The attitude of foreign capital towards Chinese medical assets has dramatically reversed within a year, shifting from a neutral to a positive outlook on the biotechnology sector in China [1][3][7] Group 1: Market Sentiment Shift - Morgan Stanley's report titled "China Biotech: Innovation Dawn" indicates that China's biotechnology sector is now viewed as a critical part of the global new drug supply chain, with projected pharmaceutical revenues reaching $34 billion by 2030 and $220 billion by 2040 [1][3] - The number of foreign institutions conducting research on Chinese biotech companies has surged, with notable firms like State Street Bank and BlackRock showing increased interest [1][2] - The collective buying actions of foreign investors, such as JPMorgan and Citigroup, reflect a significant shift in sentiment towards Chinese innovative drug companies [2][5] Group 2: Investment Dynamics - The efficiency of converting research interest into actual holdings is evident, as seen in the stock price surge of WuXi AppTec, which rose by 6.52% due to increased foreign investment [2] - Major foreign investors have increased their holdings in key Chinese biotech firms, indicating a trend of strategic accumulation among top foreign capital [5][6] - The report highlights that foreign capital is now viewing specific sectors in China as essential assets in the global technology race, with over 90% of U.S. investors expressing plans to increase exposure to Chinese stocks, particularly in biotechnology [6][7] Group 3: Industry Evolution - The narrative surrounding China's pharmaceutical industry has shifted from being cost-driven to innovation-driven, acknowledging the significant advancements in the sector [3][4] - Morgan Stanley and Goldman Sachs both emphasize the growing recognition of China's innovative capabilities in biotechnology, with expectations that several leading biotech firms will reach breakeven by 2025-2026 [4][8] - The report outlines that the Chinese biotech sector is becoming a key player in filling the revenue gaps created by patent expirations in multinational corporations (MNCs), with an estimated $115 billion revenue loss due to patent cliffs by 2035 [8][10] Group 4: Future Projections - By 2040, China's share of FDA-approved drugs is expected to rise from 5% to 35%, with a projected global sales figure exceeding $1.22 trillion even in the most pessimistic scenarios [25][27] - The report anticipates that the collaboration between MNCs and Chinese biotech firms will intensify, driven by the need to address revenue shortfalls from patent expirations [10][14] - The overall improvement in clinical trial data integrity and the increasing number of new molecular entities launched in China are contributing to a more favorable investment landscape [20][22]

Market Overview - The personal care products sector experienced a decline of 0.29% on October 20, with Dengkang Oral Care leading the drop [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Stock Performance - Key stocks in the personal care sector showed varied performance, with Jeya Co. rising by 3.83% to a closing price of 34.72, and Dengkang Oral Care falling by 3.21% to 39.56 [1][2] - Other notable performers included Runben Co. with a 2.97% increase and Liangmian Needle with a 2.87% increase [1][2] Trading Volume and Value - Jeya Co. had a trading volume of 31,000 shares and a transaction value of 108 million yuan, while Dengkang Oral Care had a trading volume of 25,900 shares and a transaction value of 104 million yuan [1][2] Capital Flow - The personal care products sector saw a net inflow of 24.78 million yuan from institutional investors, while retail investors experienced a net outflow of 11.31 million yuan [2][3] - Major stocks like Liangmian Needle had a net inflow of 16.20 million yuan from institutional investors, while Dengkang Oral Care had a net inflow of 4.53 million yuan [3]

Market Overview - The personal care products sector experienced a decline of 1.51% on October 17, with Baiya Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Stock Performance - Notable stock performances included: - Dengkang Oral Care (001328) closed at 40.87, up 1.67% with a trading volume of 24,700 shares and a turnover of 101 million yuan [1] - Yanjing Co., Ltd. (300658) closed at 8.18, up 1.36% with a trading volume of 161,700 shares and a turnover of 132 million yuan [1] - Beijia Clean (603059) closed at 34.10, up 1.25% with a trading volume of 32,100 shares and a turnover of 109 million yuan [1] - However, major declines were seen in companies like Huayue Nursing (605009), which closed at 33.18, down 1.83% [2] Capital Flow Analysis - The personal care products sector saw a net outflow of 15.88 million yuan from institutional investors and 61.87 million yuan from retail investors, while individual investors contributed a net inflow of 77.74 million yuan [2] - Detailed capital flow for specific stocks showed: - Runben Co., Ltd. (603193) had a net inflow of 8.22 million yuan from institutional investors but a net outflow of 9.27 million yuan from retail investors [3] - Beijia Clean (603059) experienced a net inflow of 4.71 million yuan from institutional investors but a net outflow of 8.99 million yuan from retail investors [3] - Major outflows were noted for Juyuan Co., Ltd. (003006), with a net outflow of 2.70 million yuan from institutional investors [3]