Investment Rating - The investment rating for the company is "Accumulate" with a target price of RMB 37.57 [6]. Core Views - The company has shown stable revenue growth in H1 2024, with revenue reaching RMB 940 million, a year-on-year increase of 8.17%. However, net profit decreased by 3.71% to RMB 340 million [1]. - The rapid growth of online direct sales has significantly contributed to revenue, while profit margins have been pressured due to increased sales expenses and R&D investments [1][2]. - The medical device segment has outpaced the cosmetics segment in growth, with revenue of RMB 459 million in H1 2024, a year-on-year increase of 14.6% [3]. - The company is actively developing new products and raw materials, which are expected to contribute to future growth if approved [1]. Summary by Sections Revenue and Profitability - In H1 2024, the company's revenue was RMB 940 million, with a year-on-year growth of 8.17%. The net profit was RMB 340 million, down 3.71% year-on-year [1]. - The gross margin for H1 2024 was 81.41%, a decrease of 1.40 percentage points year-on-year, while the net profit margin was 36.22%, down 4.47 percentage points year-on-year [4]. Sales Channels - Online channel revenue reached RMB 472 million in H1 2024, growing 20.5% year-on-year and accounting for 50.26% of total revenue. Direct sales contributed RMB 426 million, up 29.2% year-on-year [2]. - Offline channel revenue was RMB 467 million, a slight decline of 1.9% year-on-year, indicating a narrowing drop compared to previous periods [2]. Product Segments - The medical device segment generated RMB 459 million in H1 2024, with a gross margin of 81.29%. The cosmetics segment had revenue of RMB 481 million, with a gross margin of 81.53% [3]. - The company is focusing on both medical dressings and functional skincare products, with a rich pipeline of projects in development [3]. Financial Projections - The company expects EPS of RMB 2.21, 2.43, and 2.61 for 2024, 2025, and 2026 respectively. The target PE for 2024 is set at 17 times, reflecting a slowdown in growth [1][5].

哈尔滨敷尔佳科技股份有限公司 投资者关系活动记录表 编号：2024-004 | --- | --- | --- | |-------------------------|-------------------------|--------------------------------------------------------------| | | | | | | □特定对象调研 | 分析师会议 | | | □媒体采访 | ☑ 业绩说明会 | | 投资者关系活 | | □新闻发布会 □路演活动 | | 动类别 | □现场参观 | | | | □其他 | （请文字说明其他活动内容） | | 参与单位名称 及人员姓名 | 投资者网上提问。 | | | 时间 | 2024 年 8 月 30 | 日（下午）15： 00-17：00 | | 地点 | | 通过全景网"投资者关系互动平台"（ https://ir.p5w.net ） | | | | 采用网络远程的方式召开业绩说明会。 | | | 张立国先生 董事长 | | | 上市公司接待 | 邓百娇女士 | 董事、董事会秘书、财务负责人 | | 人员姓名 | 王 ...

证券代码：301371 证券简称：敷尔佳 哈尔滨敷尔佳科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | --- | --- | |--------------|--------------------------------|----------------------------------|------------------------------------------------------|-------|--------------------------------------| | | | | 编号： | | 2024-003 | | | ☑ 特定对象调研 □媒体采访 | 分析师会议 业绩说明会 | | | | | 投资者关系活 | | □新闻发布会 □路演活动 | | | | | 动类别 | □现场参观 | | | | | | | □其他 | （请文字说明其他活动内容） | | | | | 参与单位名称 | 中信证券等 29 | 家机构 37 | 名人员参与，详见附件。 | | | | 及人员姓名 | | | | | | | 时间 | 2024 年 ...

Financial Performance - The company reported a revenue of RMB 500 million for the first half of 2024, representing a 20% increase compared to the same period in 2023[8]. - The company achieved operating revenue of CNY 939,742,187.97, representing an increase of 8.17% compared to the same period last year[19]. - The net profit attributable to shareholders decreased by 3.71% to CNY 340,413,344.14, while the net profit after deducting non-recurring gains and losses fell by 5.47% to CNY 323,694,307.05[19]. - The company reported a net profit of 259,620,640.64 yuan from its subsidiary Shanghai Fuerjia Technology Development Co., Ltd[67]. - The net profit for the first half of 2024 reached CNY 361,121,619.13, an increase from CNY 308,675,835.11 in the same period of 2023, representing a growth of approximately 16.9%[122]. - The company reported a comprehensive income of CNY 361,121,619.13 for the current period[132]. Revenue Sources - Online direct sales revenue reached CNY 426,477,300, accounting for approximately 45.38% of the main business revenue[22]. - Medical device sales amounted to CNY 458.91 million, accounting for 48.83% of total revenue, with an average price of CNY 43.52 per unit, compared to CNY 45.15 in the same period last year[40]. - Cosmetic sales reached CNY 480.81 million, representing 51.16% of total revenue, with an average price of CNY 36.29 per unit, down from CNY 43.14 year-on-year[40]. - The main revenue source during the reporting period is from the "Fuerjia" brand, which significantly contributes to the company's sales[69]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2025[8]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach[8]. - The company is expanding its online and offline channels, with a focus on live-streaming sales and rapid growth in offline distribution models[33]. - The company aims to strengthen its market position in the professional skincare product industry by leveraging consumer demand and precise marketing strategies[51]. Research and Development - Research and development expenses increased by 30% year-on-year, focusing on innovative skincare products and advanced medical devices[8]. - The company plans to continue enhancing its research and development efforts, which contributed to increased expenses during the reporting period[19]. - The company has increased its R&D personnel by 44.44% to a total of 39, and has been granted 27 patents, including 7 invention patents[35]. - The company is focusing on the development of Class II and III medical devices, particularly in skin improvement and injection filler products[34]. - The company has established a comprehensive and standardized R&D system, collaborating with third-party research institutions to enhance product development[27]. Financial Position and Assets - The total assets at the end of the reporting period were CNY 5,849,062,344.71, a decrease of 0.69% from the end of the previous year[19]. - Cash and cash equivalents at the end of the reporting period amounted to ¥3.12 billion, accounting for 53.29% of total assets, a decrease of 3.04% from the previous year[54]. - The total current assets at the end of the reporting period amounted to ¥3,430,558,168.82, a decrease from ¥3,479,989,938.98 at the beginning of the period[112]. Shareholder Information - No cash dividends or stock bonuses will be distributed to shareholders for the current fiscal year[3]. - The total number of shares before the recent change was 400,080,000, with 90.59% being restricted shares[96]. - The largest shareholder, Zhang Liguo, holds 337,720,000 shares, representing 84.41% of the total shares[99]. Risks and Challenges - The company faces potential risks related to regulatory changes in the healthcare sector, which may impact future operations[3]. - The company faces risks from intensified industry competition and brand concentration, which could impact sales revenue[68][69]. Social Responsibility and Governance - The company actively promotes social responsibility while achieving economic benefits, ensuring a harmonious development with shareholders and society[85]. - The company has established a robust governance structure and maintains a healthy relationship with investors, ensuring accurate and timely information disclosure[86]. - Employee welfare is prioritized, with a focus on creating a supportive environment and a multi-level talent development system[87]. Environmental Compliance - The company has not faced any environmental penalties during the reporting period and adheres to relevant environmental regulations[80]. - The company employs low-nitrogen combustion technology for emissions control and regularly monitors air quality to comply with national standards[80].

证券代码：301371 证券简称：敷尔佳 公告编号：2024-049 哈尔滨敷尔佳科技股份有限公司 第二届监事会第五次会议决议公告 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。 一、监事会会议召开情况 哈尔滨敷尔佳科技股份有限公司（以下简称"公司"）第二届监事会第五次 会议于 2024 年 8 月 29 日以通讯方式召开。本次会议通知已于 2024 年 8 月 19 日 以通讯方式发出，本次会议应出席监事 3 人，实际出席监事 3 人。会议由监事会 主席许小明先生主持，公司董事会秘书列席了本次会议。会议召开符合法律法规、 《公司法》及《公司章程》的规定。 金管理违规情形。公司 2024 年半年度募集资金存放和使用符合《上市公司监管指 引第 2 号——上市公司募集资金管理和使用的监管要求》的规定，不存在变相改变 募集资金投向、损害股东利益、违反相关规定的情形。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 具体内容详见公司同日刊登于巨潮资讯网（www.cninfo.com.cn）的相关公告。 二、监事会会议审议情况 1、审议通过《2024 年半年度报告 ...

证券代码：301371 证券简称：敷尔佳 公告编号：2024-051 哈尔滨敷尔佳科技股份有限公司 2024 年半年度募集资金存放与使用情况的专项报告 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。 公司与银行及中信证券股份有限公司签订的《募集资金三方监管协议》授权 保荐代表人可以随时到开设募集资金专户的银行查询募集资金专户资料，并要求 保荐机构至少每半年对公司现场调查时应同时检查募集资金专户存储情况。根据 根据《上市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要 求》《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监 管指引第 2 号——创业板上市公司规范运作》等有关规定，哈尔滨敷尔佳科技股 份有限公司（以下简称"公司"）现将公司 2024 年半年度募集资金实际存放与 使用情况专项说明如下： 一、募集资金基本情况 经中国证券监督管理委员会证监许可[2023]1157 号文核准，并经深圳证券 交易所同意，公司由主承销商中信证券股份有限公司于 2023 年 7 月 20 日向社会 公众公开发行普通股（A 股）股票 4,008.00 万 ...

2024 半年度非经营性资金占用及其他关联资金往来情况汇总表 | | 资金占用方 | 占用方与上 | 上市公司核算 | 2024 年期 | 2024 年 占用累计发生 | 1-6 月 | 2024 | 年 1-6 月 | | 2024 年 | 1-6 | 2024 年 6 月 | | 占用形成 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | | 市公司的关 | | 初占用资 | | | | 占用资金的利 | | 月偿还累计 | | 30 日期末占 | | | 占用性质 | | | 名称 | 联关系 | 的会计科目 | 金余额 | 金额（不含利 | | | 息（如有） | | 发生金额 | | 用资金余额 | | 原因 | | | | | | | | 息） | | | | | | | | | | | | 控股股东、实际控制人及 | | | | | | | | | | | | | | | 非经营性占用 | | 其附属企业 | | | ...

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。 哈尔滨敷尔佳科技股份有限公司（以下简称"公司"）将于 2024 年 8 月 30 日在巨潮资讯网（www.cninfo.com.cn）披露《2024 年半年度报告》及《2024 年半年度报告摘要》。为便于广大投资者进一步了解公司 2024 年半年度经营情 况，加强与中小投资者的沟通交流，公司将于 2024 年 8 月 30 日（星期五） 15:00-17:00 在全景网举办 2024 年半年度业绩说明会，本次业绩说明会将采用 网络远程的方式举行，投资者可登陆全景网"投资者关系互动平台" （http://ir.p5w.net）参与本次业绩说明会。 证券代码：301371 证券简称：敷尔佳 公告编号：2024-047 哈尔滨敷尔佳科技股份有限公司 关于举行2024年半年度业绩说明会的公告 欢迎广大投资者积极参与本次业绩说明会。 特此公告。 哈尔滨敷尔佳科技股份有限公司董事会 2024 年 8 月 28 日 2 出席本次业绩说明会的人员有：公司董事长张立国先生，董事、董事会秘书、 财务负责人邓百娇女士，独立董事王孝先先 ...

二、董事会会议审议情况 证券代码：301371 证券简称：敷尔佳 公告编号：2024-045 1、审议通过《关于变更部分募集资金专项账户的议案》 哈尔滨敷尔佳科技股份有限公司 第二届董事会第六次会议决议公告 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。 一、董事会会议召开情况 哈尔滨敷尔佳科技股份有限公司（以下简称"公司"）第二届董事会第六次 会议于 2024 年 8 月 19 日以通讯方式召开。本次会议通知已于 2024 年 8 月 16 日以通讯方式发出，本次会议应出席董事 5 名，实际出席董事 5 名，会议由公司 董事长张立国先生主持，公司监事及高级管理人员列席了本次会议。会议召开符 合法律法规、《公司法》及《公司章程》的规定。 本次变更部分募集资金专项账户，不会改变募集资金用途，不影响募集资金投 资计划，有利于提高募集资金专项账户日常操作的便利性，提高公司对募集资金的 使用和管理效率，董事会同意本次变更募集资金专项账户事项。董事会授权董事长 或总经理及其指派的相关人员根据实际需求全权办理募集资金专项账户的开立或注 销、募集资金专项账户监管协议签署等相 ...

证券代码：301371 证券简称：敷尔佳 公告编号：2024-046 哈尔滨敷尔佳科技股份有限公司 关于变更部分募集资金专项账户的公告 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。 哈尔滨敷尔佳科技股份有限公司（以下简称"公司"）于 2024 年 8 月 19 日 召开第二届董事会第六次会议，审议通过了《关于变更部分募集资金专项账户的 议案》，现将具体情况公告如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意哈尔滨敷尔佳科技股份有限公司首次 公开发行股票注册的批复》（证监许可[2023]1157 号）核准，并经深圳证券交易 所同意，公司以首次公开发行人民币普通股（A 股）股票 4,008.00 万股,发行价 格为 55.68 元，募集资金总额 223,165.44 万元，扣除相关发行费用后实际募集 资金净额为 207,176.46 万元。大华会计师事务所（特殊普通合伙）对上述募集 资金到位情况进行了审验，并于 2023 年 7 月 26 日出具了《验资报告》（大华验 字[2023]000373 号）。公司依照相关规定对募集资金进行了专户存储管理 ...