Company Overview - Reliable Co., Ltd. (SZ 301009) announced the resignation of Ms. Zhou Min from her position as the representative for securities affairs due to personal career planning reasons. Her resignation will take effect upon delivery of her resignation report to the company's board and will not affect the normal operations of the company [1][1][1] - As of the report, Reliable Co., Ltd. has a market capitalization of 3.7 billion yuan [1][1][1] Industry Insights - For the fiscal year 2024, the revenue composition of Reliable Co., Ltd. is entirely from the paper products industry, accounting for 100.0% of its revenue [1][1][1]

Market Overview - The personal care products sector increased by 1.02% on October 31, with稳健医疗 leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Key stocks in the personal care products sector showed varied performance, with the following notable changes: - 稳健医疗 (300888) closed at 41.30, up 2.00% with a trading volume of 100,200 shares and a turnover of 413 million yuan [1] - 洁雅股份 (301108) closed at 32.20, up 1.61% with a trading volume of 28,700 shares [1] - 豪悦护理 (6005009) closed at 32.60, up 1.46% with a trading volume of 16,900 shares [1] - 百亚股份 (003006) closed at 23.33, down 0.30% with a trading volume of 28,400 shares [1] Capital Flow - The personal care products sector experienced a net outflow of 45.69 million yuan from institutional investors, while retail investors saw a net inflow of 48.90 million yuan [2] - The following stocks had significant capital flow: - 稳健医疗 had a net inflow of 19.47 million yuan from institutional investors, but a net outflow from retail investors [3] - 登康口腔 saw a net inflow of 41.71 million yuan from speculative funds [3] - 豪悦护理 experienced a net outflow of 8.07 million yuan from institutional investors [3]

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。 杭州可靠护理用品股份有限公司（以下简称"公司"）董事会近日收到公司 证券事务代表周敏女士递交的书面辞职报告。周敏女士基于个人职业生涯规划原 因辞去公司证券事务代表职务，辞职后将不再担任公司任何职务，其辞职报告自 送达公司董事会之日起生效，其辞职不会影响公司相关工作的正常开展。 截止本公告披露日，周敏女士未直接或间接持有公司股份，亦不存在应当履 行而未履行的承诺事项。周敏女士在任职期间恪尽职守、勤勉尽责，公司董事会 对其在任职期间为公司所作出的贡献表示衷心的感谢。 公司董事会将根据《深圳证券交易所创业板股票上市规则》等相关规定，尽 快选聘符合任职资格的相关人员担任证券事务代表，协助公司董事会秘书开展相 关工作。 特此公告。 杭州可靠护理用品股份有限公司董事会 2025 年 10 月 31 日 证券代码：301009 证券简称：可靠股份 公告编号：2025-043 杭州可靠护理用品股份有限公司 关于证券事务代表辞职的公告 ...

Core Viewpoint - Reliable Co. plans to acquire at least 60% of Shanghai Hanhua Paper Industry Co. for cash, with a valuation of no more than RMB 650 million for 100% of Hanhua's equity, aiming to enhance its market position and international reach [1][2] Group 1: Acquisition Details - The acquisition is expected to be completed with less than RMB 400 million in cash, allowing Reliable Co. to gain access to Hanhua's established sales channels in Japan, South America, and Europe [2] - Hanhua Paper's main business includes ODM/OEM production of daily paper products, which are primarily export-oriented [1] Group 2: Financial Performance - In the first three quarters of the year, Reliable Co. achieved revenue of RMB 829 million, a year-on-year increase of 5.12%, and a net profit of RMB 27.98 million, up 26.79% [2] - The operating cash flow reached RMB 89.72 million, reflecting a significant year-on-year growth of 136.29% [2] Group 3: Market Context - The adult incontinence care market is experiencing growing demand domestically due to an aging population, while the international market is more mature with higher consumer expectations for product quality [3] - Hanhua's international operational experience is expected to provide valuable insights for Reliable Co. in navigating cultural differences, consumer habits, and regulatory policies in various markets [3]

Group 1 - Reliable Co. plans to acquire at least 60% of Shanghai Hanhua Paper Industry Co., Ltd. for a valuation of 650 million yuan, requiring a minimum payment of 390 million yuan [1] - Hanhua Paper, established in 2008, specializes in the production of consumer paper products, primarily exporting to Japan, South America, and Europe [2] - The paper industry is facing intense competition, with leading companies experiencing significant profit declines, indicating a challenging market environment [2] Group 2 - Reliable Co. has faced market challenges, with profits declining significantly since reaching a peak in 2020, and is currently in a slow recovery phase [2] - The company has previously attempted to diversify its operations by investing in Zhejiang Haizheng Sulikang Biotechnology Co., Ltd. and selling Dudi brand baby diapers, but these efforts have faced criticism from its second-largest shareholder [3] - The actual financial condition of Hanhua Paper remains unclear as the financial audit has not yet been conducted [2]

Core Viewpoint - Reliable Co. plans to acquire at least 60% of Shanghai Hanhua Paper Industry Co., Ltd. for cash, with a valuation of no more than 650 million yuan for 100% equity, aiming to enhance its market presence and overseas channels [1] Group 1: Acquisition Details - The acquisition is in the planning stage, with financial audits and asset evaluations yet to be conducted, making it difficult to assess its impact on the company's current year performance [1] - Hanhua Paper's main products include various types of paper products, primarily exported to Japan, South America, and Europe [1] - The acquisition is seen as a horizontal extension of the company's industrial layout, facilitating strategic complementarity between product lines and overseas channels [1] Group 2: Company Overview - Reliable Co. specializes in the design, research, production, and sales of personal hygiene products, having transitioned to focus on adult incontinence care products since 2008 [2] - The company generated 626 million yuan from domestic operations in 2024, accounting for 58.03% of total revenue, while overseas operations contributed 453 million yuan, representing 41.97% [2] - The company has initiated its own brand's cross-border business, which is expected to enhance international market development efficiency post-acquisition [2] Group 3: Financial Performance - In the first three quarters of the year, Reliable Co. achieved a revenue of 829 million yuan, a year-on-year increase of 5.12%, and a net profit of 27.98 million yuan, up 26.79% [2] - The operating cash flow reached 89.72 million yuan, reflecting a significant year-on-year growth of 136.29% [2] - Despite a net loss of 294,200 yuan in the third quarter, the loss margin has narrowed compared to the previous year [2] Group 4: Management and Strategic Decisions - A board member expressed concerns over the management's decision-making, particularly regarding the sale of the Dudi brand baby diapers, which is expected to incur losses in 2024 and the first half of 2025 [3] - The company defended its strategy, stating that the Dudi brand's sales were approved by the board to enhance channel collaboration and improve production efficiency, with a 61% year-on-year revenue increase in related business [3] - Overall, the company reported revenue growth in the third quarter, with a 2.1 percentage point increase in gross margin, despite net profit being affected by foreign exchange losses [3]

证券代码：301009 证券简称：可靠股份 公告编号：2025-042 3、本次交易尚处于筹划阶段，所涉及的财务审计、资产评估、盈利预测、 交易定价等尚未开展，上述具体事宜尚待进一步协商、推进和落实，暂无法判断 本次交易对公司本年度经营业绩的影响。 4、本次签署的《股权收购意向协议》涉及的合作事项不构成关联交易，经 初步测算，本次交易预计不构成《上市公司重大资产重组管理办法》规定的重大 资产重组情形。 公司将根据合作事项后续的进展情况，按照《深圳证券交易所创业板股票上 市规则》等法律法规及《公司章程》的相关规定，及时履行相应决策程序和信息 披露义务。敬请广大投资者谨慎决策，注意投资风险。 一、本次收购意向概述 公司近日与汉合纸业及其股东吴洁签署《股权收购意向协议》，公司拟以现 金方式收购目标公司不低于 60%的股权，并实现对汉合纸业的控股。目标公司 100%股权的整体估值暂定为不高于人民币 6.5 亿元，目标公司 100%股权的估值 及本次交易定价最终以审计评估报告和正式签署的收购协议为准。 杭州可靠护理用品股份有限公司 关于签署股权收购意向协议的公告 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 ...

Core Viewpoint - The company has signed a share acquisition intention agreement with Hanhe Paper Industry and its shareholder Wu Jie, aiming to acquire at least 60% of the target company's shares in cash, thereby gaining control over Hanhe Paper Industry [1] Group 1 - The overall valuation of 100% equity of the target company is tentatively set at no more than RMB 650 million [1] - The final valuation and pricing of the transaction will be determined based on the audit assessment report and the formally signed acquisition agreement [1]

Core Insights - Reliable Co., Ltd. reported a revenue of 829 million yuan for the first three quarters of 2025, representing a year-on-year growth of 5.12% [2] - The company's net profit attributable to shareholders reached 27.98 million yuan, marking a year-on-year increase of 26.79% [2] - Operating cash flow saw a significant increase of 136.29%, amounting to 89.71 million yuan [2] Company Strategy - The company has been focusing on the "silver economy" for 24 years, leading to steady revenue growth [2] - Reliable Co. emphasizes user-centric product development, addressing the needs of elderly consumers who may be resistant to traditional care products [2] - The introduction of the "Reliable Cloud Soft Instant Absorption Series" aims to provide comfort and security for users, featuring soft surfaces and ergonomic designs [2] Production and Quality Control - The company prioritizes product quality as its "lifeline," operating smart production lines 24/7 in its factories [2] - An intelligent visual inspection system is in place to ensure the quality of each adult diaper produced [2] - A data platform is utilized for real-time monitoring of inventory and logistics, ensuring efficient and stable supply [2] Industry Outlook - As China enters a deeply aging society, Reliable Co. is committed to focusing on its silver strategy and maintaining a user-centric approach [3] - The company aims to explore new models and scenarios in smart manufacturing, integrating tools like artificial intelligence [3] - Reliable Co. is dedicated to building a "smart elderly care ecosystem" [3]

Core Insights - Reliable Co., Ltd. reported a revenue of 829 million yuan for the first three quarters of 2025, representing a year-on-year growth of 5.12%, with a net profit of 27.98 million yuan, up 26.79% [1] - The company has established a clear business matrix focusing on self-owned brands in adult care and an ODM model for infant and pet health care, contributing to its steady growth [1] Financial Performance - For Q3 2025, the company achieved a revenue of 281 million yuan, reflecting a year-on-year increase of 4.59% [1] - Operating cash flow saw a significant increase of 136.29%, reaching 89.72 million yuan [1] Product Innovation - Reliable Co. focuses on user needs, particularly in the elderly care market, developing innovative products like the "reliable enhanced adult diaper" designed for overnight use, which reduces comprehensive care costs by 30% [2] - The company has launched products utilizing "liquid-blood dual-absorption technology" and upgraded versions of existing products to meet evolving consumer demands [2] Market Position and Strategy - The adult incontinence products market is projected to grow significantly, with the market size expected to increase from 8.86 billion yuan in 2020 to 16.8 billion yuan by 2031 [4] - Reliable Co. has maintained the number one market share in the domestic adult incontinence sector for several years, showcasing strong brand recognition [4] Sales Channels - The company has achieved comprehensive online and offline channel coverage, including flagship stores on major e-commerce platforms and expansion into new sales channels like live streaming and community group buying [3] Social Responsibility - Reliable Co. integrates social responsibility into its business model, focusing on the elderly community through initiatives like "Reliable Love Public Welfare," donating products to elderly individuals in need [4] Recognition and Awards - The company has received multiple accolades for its market performance and contributions to product innovation and ESG, including being named a "2025 (Autumn) Best-Selling Product" and recognized as an "Industry Leading Brand" by JD Supermarket [5]