Core Points - Reliable Co., Ltd. (301009.SZ) announced a share reduction plan by specific shareholders, including Wei Aino, Wei Aino No. 2, and Wei Aino No. 3, who collectively reduced their holdings by 2,664,200 shares from August 25 to August 29, 2025, representing 0.98% of the total share capital and 1.00% of the total share capital excluding repurchased shares [1] - Following this reduction, the controlling shareholder and actual controller, Mr. Jin Liwei, along with his concerted actors, saw their combined shareholding decrease from 34.25% to 33.27% of the total share capital, and from 34.95% to 33.95% of the total share capital excluding repurchased shares [1]

证券代码：301009 证券简称：可靠股份 公告编号：2025-036 杭州可靠护理用品股份有限公司 关于特定股东减持股份进展暨权益变动触及 1%的 公 告 公司股东杭州唯艾诺投资合伙企业（有限合伙）、杭州唯艾诺贰号企业 管理合伙企业（有限合伙）、杭州唯艾诺叁号企业管理合伙企业（有限合伙） 保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈 述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 杭州可靠护理用品股份有限公司（以下简称"公司"或"本公司"）于 2025 年 7 月 24 日披露了《关于特定股东减持股份预披露公告》（公告编号：2025-028）， 公司特定股东杭州唯艾诺投资合伙企业（有限合伙）（以下简称"唯艾诺"）、 杭州唯艾诺贰号企业管理合伙企业（有限合伙）（以下简称"唯艾诺贰号"）、 杭州唯艾诺叁号企业管理合伙企业（有限合伙）（以下简称"唯艾诺叁号"）自 上述公告披露之日起 15 个交易日后的 3 个月内（即从 2025 年 8 月 15 日至 2025 年 11 月 14 日）以集中竞价或大宗交易方式减持公司股份。其中，唯艾诺以集中 竞价或大宗 ...

Market Overview - The personal care products sector experienced a decline of 1.87% on September 1, with Haoyue Care leading the drop [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Stock Performance - Notable stock performances include: - Yiyi Co., Ltd. (001206) closed at 25.98, up 2.81% with a trading volume of 91,800 shares and a turnover of 238 million yuan [1] - Haoyue Care (605009) closed at 36.35, down 10.00% with a trading volume of 111,800 shares and a turnover of 408 million yuan [2] - Zhongshun Jierou (002511) closed at 8.64, down 1.48% with a trading volume of 186,900 shares and a turnover of 162 million yuan [2] Capital Flow - The personal care products sector saw a net outflow of 147 million yuan from institutional investors, while retail investors experienced a net inflow of 98.24 million yuan [2] - The capital flow for individual stocks shows: - Ziya Co., Ltd. (003006) had a net inflow of 6.03 million yuan from institutional investors [3] - Haoyue Care (605009) had a significant net outflow of 622.31 million yuan from institutional investors [3]

Group 1 - The core viewpoint of the article revolves around the ongoing controversies surrounding Wahaha and its chairperson, Zong Fuli, who stated that she will not change direction due to the current turmoil [4][5][6] - Zong Fuli addressed issues related to family inheritance disputes and the optimization of distributors during a recent interview, emphasizing her business philosophy and understanding of commerce [4][6] - The internal conflict at Reliable Co. has intensified, with the founder's ex-wife publicly criticizing the new secretary and the company's management decisions [6][7] Group 2 - Huawei's rotating chairman, Xu Zhijun, announced significant progress in the HarmonyOS ecosystem, highlighting advancements in application adaptation, technological innovation, and industry applications [8] - Lantu Automotive is set to go public in Hong Kong, reflecting market confidence, with over 200,000 users gained in the past period [8] - The restaurant industry is experiencing a normalization phase with declining same-store sales, but the chairman of Xiaocaiyuan expressed confidence in the business model, noting a quick return on investment for new locations [8]

Company Overview - Reliable Co., Ltd. is located in Lin'an District, Hangzhou, Zhejiang Province, and was established on August 7, 2001. The company went public on June 17, 2021. Its main business involves the design, research and development, production, and sales of disposable hygiene products [1][2]. Financial Performance - For the first half of 2025, Reliable Co., Ltd. achieved operating revenue of 549 million yuan, representing a year-on-year growth of 5.39%. The net profit attributable to the parent company was 28.28 million yuan, reflecting a year-on-year increase of 21.81% [2]. - Cumulative cash dividends since the A-share listing amount to 57.82 million yuan, with 38.79 million yuan distributed over the past three years [3]. Stock Performance - As of August 28, the stock price of Reliable Co., Ltd. was 14.76 yuan per share, down 2.19% during the trading session. The total market capitalization is 4.01 billion yuan [1]. - Year-to-date, the stock price has increased by 38.97%, but it has decreased by 8.95% over the last five trading days. Over the last 20 days, the stock has risen by 6.96%, while it has fallen by 3.60% over the last 60 days [1]. Shareholder Information - As of June 30, the number of shareholders for Reliable Co., Ltd. was 20,000, an increase of 22.52% compared to the previous period. The average number of circulating shares per person is 7,535, which is a decrease of 18.38% from the previous period [2]. Business Segmentation - The company's main business revenue composition includes: adult incontinence products (52.30%), baby care products (38.05%), pet hygiene products (6.14%), and others (3.51%) [1]. - Reliable Co., Ltd. is classified under the Shenwan industry as beauty care - personal care products - daily paper [1]. The company is also associated with several concept sectors, including small-cap stocks, pet economy, medical devices, specialized and innovative enterprises, and multi-child concepts [1].

Group 1 - The stock price of Reliable Co. is reported at 15.09 yuan as of August 27, 2025, down 4.79% from the previous trading day [1] - The company opened at 15.61 yuan, reached a high of 15.70 yuan, and a low of 15.08 yuan, with a trading volume of 137,100 lots and a transaction value of 211 million yuan [1] - Reliable Co. specializes in adult incontinence products, baby care products, and pet hygiene products, owning brands such as Reliable and Absorbent Treasure [1] Group 2 - The company has faced internal disputes within its board of directors, attracting market attention [1] - On August 25, the company disclosed its semi-annual report and board resolution announcement, with three proposals opposed by director Bao Jia, who is also the ex-wife of the actual controller and the second-largest shareholder [1] - Bao Jia has publicly criticized the investment decisions and management capabilities of chairman Jin Liwei, as well as the professional competence of the newly appointed secretary Wang Xiangting [1] Group 3 - The company received a warning letter from the Zhejiang Securities Regulatory Bureau on August 26 due to violations in the disclosure of related party transactions [1] - As of August 27, the net outflow of main funds from Reliable Co. was 17.85 million yuan, with a cumulative net outflow of 58.56 million yuan over the past five days [1]

Core Viewpoint - Hangzhou Reliable Nursing Products Co., Ltd. faced regulatory action from the China Securities Regulatory Commission for failing to timely disclose significant events and fulfill other responsibilities [1] Summary by Relevant Sections Regulatory Actions - The company received a warning letter from the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission [1] - The regulatory measures include supervisory talks and the issuance of a warning letter, both of which will be recorded in the securities and futures market integrity archives [1] Violations - As of April 17, 2025, the company had a related party transaction with Guangxi Hanggang Material Technology Co., Ltd. amounting to 21.1224 million yuan, which represents 1.54% of the company's most recent audited net assets [1] - The company did not follow the required review procedures and disclosure obligations in a timely manner, with the board only approving and disclosing the related party transaction on April 24, 2025 [1]

Core Viewpoint - The internal conflict within Reliable Co., Ltd. has intensified, highlighted by the opposition from the founder's ex-wife, Bao Jia, against several board resolutions, raising concerns about the company's management and governance [2][3][10]. Group 1: Board Meeting and Resolutions - On August 21, Reliable Co. held a board meeting where four resolutions were voted on, all of which passed despite Bao Jia's dissent on three of them, particularly regarding the appointment of Wang Xiangting as the new Secretary of the Board and Deputy General Manager [3][4]. - Bao Jia criticized Wang's lack of experience in listed companies and questioned his professional capabilities, suggesting he is more suited for the role of Chairman's Secretary rather than Secretary of the Board [3][4]. Group 2: Regulatory Issues - On August 26, Reliable Co. received a warning letter from the Zhejiang Securities Regulatory Bureau due to violations in disclosing related party transactions, which led to regulatory discussions with founder Jin Liwei and CFO Li Chaonan [7][9]. - The company was found to have failed to timely fulfill the necessary review procedures and disclosure obligations regarding related party transactions amounting to 21.12 million yuan, which constituted 1.54% of the company's latest audited net assets [9]. Group 3: Financial Performance - For the first half of the year, Reliable Co. reported a revenue increase of 5.39% to 549 million yuan and a net profit growth of 21.81% to 28.28 million yuan, with specific segments like adult incontinence products and baby care products showing positive growth [14]. - Despite the recent revenue growth, the company's overall performance has been declining since its listing, with revenues dropping from 1.174 billion yuan in 2019 to 1.079 billion yuan in 2024, and net profits fluctuating significantly, including a loss in 2021 [14]. Group 4: Management Criticism - Bao Jia has publicly criticized Jin Liwei's management decisions, particularly regarding investments in loss-making companies and the handling of the Du Di brand's sales, which have resulted in significant financial losses [10][12]. - Reliable Co. defended its investment strategy as a long-term approach and claimed that the losses from the Du Di brand were part of a broader strategy to enhance channel collaboration and improve operational efficiency [12][14]. Group 5: Market Reaction - Following the news of internal conflicts and regulatory issues, Reliable Co.'s stock closed at 15.85 yuan, down 0.25% on August 26 [17].

Core Viewpoint - The internal conflict within Reliable Co., Ltd. (301009.SZ) has intensified following the divorce of its founders, leading to significant governance issues and operational challenges, as highlighted by the opposition from former owner Bao Jia during board meetings [2][3][19]. Financial Performance - In the first half of 2025, Reliable Co. achieved revenue of 549 million yuan, a year-on-year increase of 5.39%, and a net profit attributable to shareholders of 28.28 million yuan, up 21.81% year-on-year, primarily due to increased sales and improved collections [2]. - The second quarter saw a significant decline in profit, with a 47.88% decrease compared to the previous quarter, attributed to promotional activities impacting profit margins [7][9]. - The company's core business segments, adult incontinence products and infant care products, reported revenues of 287 million yuan and 208 million yuan, respectively, with year-on-year growth rates of 4.62% and 5.6% [9]. Governance Issues - Bao Jia has raised serious concerns regarding the company's governance, citing issues such as internal management failures, improper related-party transactions, and the lack of experienced personnel in key positions [3][11]. - During a recent board meeting, Bao Jia opposed the appointment of the new secretary, questioning the qualifications and professional integrity of the candidate [11][13]. - The company has faced scrutiny over related-party transactions, with allegations of exceeding regulatory limits, prompting investigations by regulatory authorities [15][17]. Strategic Initiatives - To enhance profit margins, Reliable Co. has implemented a "premium pricing" strategy focused on high-margin adult care products, although the impact of this strategy has yet to be significantly reflected in financial results [9]. - The infant care product line, primarily based on OEM production, has been underperforming, with significant losses reported, raising concerns about the strategic direction of this segment [9][10].

证券代码：301009 证券简称：可靠股份 公告编号：2025-035 公司上述行为违反了《上市公司信息披露管理办法》（证监会令第 182 号） 第三条第一款的规定。根据《上市公司信息披露管理办法》（证监会令第 182 号）第五十二条的规定，我局决定对你公司采取出具警示函的监督管理措施，并 记入证券期货市场诚信档案。你公司应认真吸取教训，加强证券法律法规学习， 严格规范交易行为，杜绝此类违规行为再次发生，并于收到本决定书之日起 10 个工作日内向我局提交书面报告。 如果对本监督管理措施不服，可以在收到本决定书之日起 60 日内向中国证 券监督管理委员会提出行政复议申请，也可以在收到本决定书之日起 6 个月内向 有管辖权的人民法院提起诉讼。复议与诉讼期间，上述监督管理措施不停止执 行。" 二、《决定书》内容 杭州可靠护理用品股份有限公司 关于公司收到浙江证监局警示函及相关人员收到监管 谈话措施决定的公告 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。 杭州可靠护理用品股份有限公司（以下简称"公司"）及相关人员于 2025 年 8 月 26 日分别收到中国证券监督 ...