Group 1 - The establishment of the Lishui Tongji Laboratory marks a significant breakthrough in building a high-level scientific and technological innovation platform in Lishui City, focusing on the beautiful health industry through industry analysis, technology research and development, achievement transformation, and talent attraction [1] - Lishui's ecological advantages, being one of the top ten regions in China for both water and air quality, are being leveraged to create new economic growth points, particularly in the beautiful health sector [1] - The local government has introduced policies and established a multi-level fund cooperation platform to support the development of the beautiful health industry, with a total investment of 15 billion yuan in 39 major projects [1] Group 2 - The "Ecological Naies Intelligent Factory and Industrial Core Area Project," with a total investment of 3.3 billion yuan, is accelerating its progress, aiming to create a complete beautiful health industry chain from planting to production [2] - Naies Group's transformation from a mature daily chemical enterprise to an explorer in the beautiful health industry reflects the broader industrial transformation in Lishui, attracting high-quality partners to the region [2] - Zhejiang Mingye Plant Technology Co., Ltd. is a pilot "future factory" in Lishui, utilizing advanced technology to produce high-value health products, supported by the region's substantial tea cultivation area of nearly 600,000 acres [4] Group 3 - The successful registration of a new plant extract from the willows by Naies Group represents a breakthrough in the cosmetics sector for Lishui, with strategic partnerships formed with leading beauty companies to develop local plant-based raw materials [4] - The industrial output value of the beautiful health sector in Lishui has reached 8.94 billion yuan, demonstrating the effective transformation of ecological resources into economic value [4] - Lishui is evolving into a new highland for the beautiful health industry, showcasing a model of high-quality development that integrates industry growth, ecological beauty, and improved livelihoods for local residents [4]

Core Insights - The China Cosmetics Raw Materials Innovation Conference and Beijing "Future Beauty City" Development Conference was held in Changping, highlighting the region's growth in the beauty and health industry [1] - Changping District has attracted 158 quality enterprises, including Aimeike and Meitu, with an industry revenue of 12.3 billion yuan last year and a compound annual growth rate of 23.2% [1] - The district has facilitated a significant cross-border acquisition project worth 190 million USD, marking it as the largest medical beauty cross-border merger in China [1] Group 1 - Six major collaborations were established during the conference, covering raw material research and development, platform construction, and market cooperation [2] - Notable partnerships include the establishment of a joint laboratory between Shangjie Youlan and Beijing Technology and Business University, and a strategic cooperation project for high-end skincare product development between Lepu Ruikang and Huacai Life [2] - Changping aims to further gather high-end resources to create an industrial cluster, promote consumption upgrades, and assist Beijing in becoming a global hub for the beauty and health industry [2]

Core Viewpoint - 九州通, a leading company in the pharmaceutical distribution industry, has announced its participation in the restructuring of Aoyuan Meigu (ST Meigu), aiming to become its controlling shareholder by investing 673 million yuan for 360 million shares post-restructuring [1][5]. Group 1: 九州通 Overview - 九州通's main business includes pharmaceutical distribution, CSO, pharmaceutical manufacturing, and new retail, with a focus on the medical aesthetics sector [5]. - In 2023, 九州通's medical aesthetics business achieved sales revenue of 342 million yuan, a year-on-year increase of 103.06% [5]. - The company reported a total revenue exceeding 150 billion yuan in 2023, with the medical aesthetics segment contributing a relatively small portion [5]. Group 2: Aoyuan Meigu Overview - Aoyuan Meigu's main businesses are bio-based fiber and medical beauty services, previously a regional leader in the medical aesthetics industry [1]. - Aoyuan Meigu has developed well in the medical aesthetics sector, operating several medical beauty hospitals and health management consulting companies [5]. Group 3: Strategic Implications - 九州通 believes that Aoyuan Meigu's medical beauty services will synergize well with its own medical aesthetics business, enhancing overall competitiveness in the beauty and health industry [5]. - The company plans to leverage its supply chain system, operational management experience, and digital capabilities to collaborate with Aoyuan Meigu in various areas, including supply chain integration and core product development [5]. Group 4: Financial Performance - 九州通's financial performance for the first three quarters of 2024 showed a slight decline, with revenue of approximately 113.4 billion yuan, down 0.82% year-on-year, and a net profit of about 1.696 billion yuan, down 6.99% year-on-year [8]. - The implementation of the restructuring investment agreement is subject to the court's approval of Aoyuan Meigu's restructuring plan, indicating uncertainty in the investment's outcome [8].

Core Viewpoint - 九州通's subsidiary, Hubei Jiuzhou Industrial Park Operation Management Co., Ltd., signed a restructuring investment agreement with Aoyuan Meigu Technology Co., Ltd., planning to invest 673 million yuan to acquire 360 million shares post-restructuring [2][3] Group 1: Investment Details - The investment aims to make 九州通 the controlling shareholder of ST Meigu if the restructuring plan is successfully completed [3] - The restructuring investment is expected to positively impact 九州通's medical beauty business and align with its long-term strategic development plan [3] Group 2: Business Synergy - Aoyuan Meigu's medical beauty services have good synergy with 九州通's existing medical beauty operations, which have rapidly grown and now cover over 10,000 medical beauty service institutions nationwide [3] - 九州通 plans to leverage its strong pharmaceutical supply chain, efficient operational management, and advanced digital capabilities to enhance collaboration with Aoyuan Meigu in the beauty and health sector [3] Group 3: Implementation and Uncertainty - The specific implementation of the restructuring investment will depend on the court's approval of Aoyuan Meigu's restructuring plan [3] - There is uncertainty regarding the subsequent progress and effects of 九州通's participation in the restructuring investment, with no significant short-term impact on the company's operating performance [3]

Group 1 - The core point of the news is that Jiuzhoutong plans to invest 673 million yuan to acquire 360 million shares of Aoyuan Meigu, which is undergoing restructuring, indicating a strategic move into the beauty and health sector [1][2] - The investment is expected to positively impact Jiuzhoutong's medical beauty business and aligns with the company's long-term strategic development plan, enhancing its core competitiveness [2] - The collaboration between Jiuzhoutong and Aoyuan Meigu is anticipated to leverage Jiuzhoutong's strong pharmaceutical supply chain, operational management experience, and digital capabilities to expand the beauty and health industry [2][3] Group 2 - Jiuzhoutong's stock price is reported at 4.89 yuan per share, with a market capitalization of 24.658 billion yuan as of April 23 [2] - The investment is viewed positively by the market, as it aligns with the trend of the health industry, although there are uncertainties regarding Aoyuan Meigu's restructuring and potential challenges in business integration [3]