图 片系AI生成 始于2024年的创始人夫妻婚变，让可靠股份(301009.SZ)陷入一年多的激烈内斗，"前老板娘" 鲍佳在历 次董事会上密集投出反对票，直指公司存在内部治理、经营投资管理、人事安排等诸多方面存在严重问 题，令市场瞠目。 近日冲突白热化，鲍佳在可靠股份第五届董事会第十一次会议上"炮轰"新任董秘王向亭"更适合当董事 长秘书"，相关言论迅速登上热搜，舆论哗然。同时，她对公司2025年半年度报告投出反对票，理由是 关联交易违规，已进入调查阶段、阻碍股东履行权力已进入调查阶段、原经营决策的失职。 这份被"炮轰"的半年报，已经有些许"触底回升"迹象：可靠股份上半年实现营收5.49亿元，同比增长 5.39%；归母净利润2827.86万元，同比增长21.81%，公司表示主要系报告期销售增长及回款增加所致， 受促销影响，第二季度利润环比下滑了47.88%，增长势头明显受挫。 上述治理后遗症也是可靠股份业绩"过山车"的根源之一。公司在2021年凭借疫情下的口罩业务风光上 市，而后业绩变脸连续暴跌，股价长期破发，今年5月终于解套。这意味着鲍佳提出的"投资不谨慎、违 规关联交易损害公司进一步扩张、私设高管架空董事会 ...

调研纪要：国能日新在报告期内功率预测业务收入增速良好，净新增功率预测电站用户数量达1,116 家，较2024年底服务规模增速达26%。分布式光伏"四可"管理要求发布，推动功率预测业务增长。存量 分布式电站改造要求陆续发布，公司紧密跟进各省电网要求并推广产品。电力交易业务聚焦产品研发、 策略优化及市场推广，新增"电力交易托管服务"。公司投资西藏东润1.05亿元，持有25%股权，进入交 割阶段。售电业务规划包括虚拟电厂运营业务和负荷侧运营业务。费用率下降源于主营业务收入增长和 降本增效措施。 机构简介： 深圳正圆投资2015年成立于深圳前海自贸区，并于当年获得私募证券投资基金牌照。正圆拥有专业的投 研团队，丰富的投资经验，完善的风险管理制度。 立足于中国经济结构转型升级，服务于中国实体经 济发展。依赖团队专业的投研能力，致力于成为社会资本与优质产业之间的纽带，通过将客户资产配置 于符合发展趋势的优质公司，实现客户资产的保值增值。 根据市场公开信息及8月25日披露的机构调研信息，知名私募正圆投资近期对2家上市公司进行了调研， 相关名单如下： 1）可靠股份 （广东正圆投资参与公司电话会议） 调研纪要：可靠股份二季度利 ...

根据市场公开信息及8月25日披露的机构调研信息，知名私募星石投资近期对2家上市公司进行了调研， 相关名单如下： 1）可靠股份 （北京市星石投资参与公司电话会议） 调研纪要：可靠股份二季度利润下降主要受618大促影响，销售费用率将比去年同期有所精进。成人用 品'推高卖贵'策略未明显体现，但蔓越莓吸水巾升级款销量增长。公司将继续拓展机构和特渠业务，杭 港工厂年产能10万吨，绒毛浆对成本略有上升压力。与合生元结束合作，2024年二季度开始运营杜迪自 主品牌，ODM业务拓展新客户。上半年婴儿护理用品业务自主品牌占比不到10%，下半年目标实现增 长，市场竞争激烈。 2）联赢激光 （北京市星石投资管理有限公司参与公司业绩说明会&电话会议） 调研纪要：联赢激光2025年上半年实现营收15.33亿元，同比增长5.3%，归母净利润5,792万元，同比增 长13.16%。上半年新签订单25亿元，锂电业务17亿，非锂电业务8亿，全年订单目标45亿。公司涉及半 固态和全固态电池设备，已交付7台装配段设备给头部客户。锂电设备更新周期2-3年，去年改造订单 4.2亿，今年上半年2.7亿，全年预计5-6亿。3C小钢壳电池上半年订单4-5亿 ...

中新网8月8日电 "请种草""帅不帅""尊嘟假嘟"……翻看FineToday中国区CEO、上海菲婷丝化妆品经营 有限公司总经理濑户温夫的个人社交账号，可能很难发现这位熟练运用诸多中国流行语的博主，是一位 来自日本的跨国企业CEO。 社交平台上，濑户温夫坚持用中文录制视频，介绍自己的爱好、分享公司的产品、回答网友的问题。从 这种"入乡随俗"的务实作风，可以窥见濑户温夫和菲婷丝融入和深耕中国市场的诚意与智慧。 今年是濑户温夫来到中国的第5个年头，也成为菲婷丝的"掌门人"满2年。近日，他在接受中国新闻网记 者专访时表示，中国市场是不可或缺的重要组成部分，菲婷丝对中国个人护理市场的新发展充满期待。 外企也接地气，深度倾听需求声音 通过社交媒体，濑户温夫广泛接触到中国消费者的想法，帮助他更广泛地了解消费者和行业趋势，也对 公司运营和产品开发提供了帮助。 濑户温夫提到，最近自己Vlog中分享的一款跑步训练时使用的冰爽湿巾，就让很多网友"种草"。他从中 感受到中国消费者对夏季户外运动降温产品的需求，并反馈到市场部，目前已开始探讨这一此前仅在跨 境渠道销售的产品引进中国一般贸易渠道的可行性。 "消费者的需求场景也在细分化。以 ...

Core Viewpoint - The beauty industry is undergoing a significant transformation from "beauty economy" to "value economy," driven by the dual trends of the "dual carbon" strategy and green consumption, with a focus on ESG (Environmental, Social, and Governance) capabilities as a new competitive advantage for brands and companies [1][12]. ESG Ratings and Recognition - Proya Cosmetics Co., Ltd. has achieved a significant milestone by upgrading its Huazheng ESG rating from AA to the highest AAA level, and maintaining an AA rating from WindESG, marking it as a leader in sustainable practices within the beauty industry [1][4]. - In the latest Huazheng ESG rating, Proya is among only 62 companies (approximately 1.1% of A-shares) to receive the AAA rating, and it ranks first in the personal care products sector for two consecutive years [1][4]. - Proya ranks 14th in the "Top 100 A-share Listed Companies for ESG Excellence" for 2025 and leads the primary consumer industry in the "Top 20 ESG Performance by Industry" [1]. Sustainable Development Goals - Proya has exceeded its sustainable development goals ahead of schedule, achieving a 33.88% increase in the use of sustainable packaging materials by the end of 2024, surpassing its 20% target set for 2025 [8]. - The company has invested 12.68 million yuan in social welfare from 2022 to 2024, exceeding its planned investment of 12 million yuan by 2025 [8]. Environmental Initiatives - Proya's products have significantly reduced plastic and metal usage, leading to a carbon reduction equivalent to 938.23 tons of CO2 emissions [9]. - The company has implemented a green logistics system, saving 5 tons of corrugated paper by using reusable plastic boxes, with over 1.25 million uses of these boxes, a 55.80% increase year-on-year [9]. Governance and Management Practices - Proya has innovatively linked executive compensation to ESG performance, ensuring long-term commitment to sustainable development [10]. - The company has maintained a high level of transparency and compliance, with 100% coverage in ethics training for employees and no incidents of commercial bribery reported [10]. Research and Development - Proya invested 210 million yuan in R&D in 2024, focusing on advanced skin texture research and collaborating with various academic institutions to enhance product innovation [11][12]. - The company has established a strategic partnership with a synthetic biology firm to explore innovations in cosmetics and regenerative materials [12].

Core Viewpoint - The company, Jieya Co., Ltd., faces internal dissent regarding its 2025 restricted stock incentive plan, with significant opposition from non-independent director Yu Yancheng, who argues that the plan is overly conservative and misaligned with the interests of minority shareholders [1][4]. Group 1: Incentive Plan Details - The incentive plan proposes to grant a total of 1.82 million restricted shares, with an initial grant price of 12.63 yuan per share, significantly lower than the company's net asset value of 22.86 yuan per share [1][4]. - The plan includes 10 recipients, including 4 senior executives, who collectively will receive 700,000 shares valued at over 18.8 million yuan based on the closing price of 26.92 yuan per share on July 22 [1][2]. Group 2: Performance Assessment Criteria - The performance assessment for the restricted stock grants spans from 2025 to 2027, requiring revenue growth rates of at least 25%, 50%, and 100% for the respective years [3][6]. - The company previously launched an incentive plan in 2022, which set revenue growth targets of at least 10%, 30%, and 50% for the years 2023 to 2025, but failed to meet these targets, resulting in the cancellation of unvested shares [5][7]. Group 3: Historical Context and Stakeholder Concerns - Yu Yancheng, who has been with the company in various capacities since 2012, expressed concerns that the current plan's structure and timing do not align with shareholder interests, particularly for minority shareholders [3][4]. - The company has a history of overlapping performance targets between different incentive plans, leading to confusion and potential conflicts in revenue assessment for the same fiscal year [5][7].

Group 1 - LaFang Home Care has experienced a decline for five consecutive trading days, with a cumulative drop of -11.66% [1] - LaFang Home Care Co., Ltd., founded in 2001, is a personal care products company that integrates research and development, production, and sales [1] - The financial report indicates that Rongtong Fund's Rongtong Xin New Growth Mixed A has entered the top ten shareholders of LaFang Home Care, marking its new entry in the first quarter of this year [1] Group 2 - Rongtong Xin New Growth Mixed A has achieved a return of 17.03% this year, ranking 605th among 4529 similar funds [1] - The fund manager, Wan Minyuan, holds a Ph.D. in Biomedical Science from Sichuan University and has extensive experience in the investment industry [3][4] - Wan Minyuan has managed various funds since joining Rongtong Fund Management Co., Ltd. in 2016, including the Rongtong Healthcare Industry Flexible Allocation Mixed Fund and the Rongtong Value Growth Mixed Fund [4]

Core Viewpoint - The incident involving the Dovey sanitary napkin brand, which claims to have introduced AI stain detection technology, has raised consumer concerns after reports of black foreign objects found in the product. The brand's response indicates that these black spots are due to the carbonization of protruding fibers during the non-woven fabric production process and are not harmful [1][2][6]. Group 1: Consumer Complaints - A consumer reported finding black spots on a Dovey sanitary napkin, leading to significant social media attention and complaints [1][2]. - The consumer sent the product back to the manufacturer, but the inspection report provided was dated April 2023, raising questions about whether it pertained to the same batch as the complained product [2][6]. - Dovey's customer service stated that the product had been thoroughly tested and met quality standards, but the consumer expressed dissatisfaction with the responses received [2][6]. Group 2: Company Response - Dovey issued a statement clarifying that the black spots are a result of the production process and are not harmful, with a detection standard of 0.3mm for their visual inspection systems [1][7]. - The company acknowledged receiving various complaints since its launch, including issues with packaging and the presence of black spots, and stated that they are taking steps to address these concerns [7]. - Dovey emphasized that their products comply with national standards and encouraged consumers to contact customer service for replacements if they encounter such issues [7]. Group 3: Brand Background and Market Context - Dovey is a sanitary napkin brand controlled by celebrity Huang Zitao, who announced the acquisition of the brand in April 2023 and has since focused on upgrading the production facilities [10][12]. - The brand claims to have a waste rate of only 2% due to the introduction of AI stain detection systems, although other leading brands also promote similar technologies [6][12]. - The incident highlights the importance of product quality and consumer trust, especially in the context of celebrity endorsements in the personal care industry [12].

Group 1 - The core viewpoint emphasizes the importance of enhancing internal capabilities to ensure product competitiveness, allowing Chinese companies to maintain control over supply regardless of foreign policies [2][8] - Jiangsu Huaten Personal Care Products Co., Ltd. experienced a surge in orders from American clients following the reduction of tariffs, indicating a strong demand for their products [2][4] - The company has diversified its market strategy by developing new clients in Brazil, Kazakhstan, and Egypt, demonstrating a proactive approach to mitigate risks associated with reliance on a single market [4][5] Group 2 - The company recognizes the unique preferences of the Brazilian market, which differ significantly from those in the U.S. and Europe, allowing for tailored product designs that cater to local tastes [5] - Despite the rapid development of Southeast Asia, the company believes that China's supply chain resilience and efficiency remain unmatched in the short term [6] - The overall revenue of the company has increased despite challenges faced in the first half of the year, reflecting the effectiveness of their strategic adjustments [8] Group 3 - The upcoming "Good Life Expo" aims to stimulate consumer activity and support quality brand growth, providing a platform for domestic companies to expand their market reach [8][9] - The expo will feature a unique online-offline integration model, facilitating direct connections between quality product/service companies and domestic distribution channels [9] - Specific support policies will be implemented for quality enterprises participating in the expo, aimed at enhancing their high-quality development [9]

Report Information - Report Name: Pulp Daily Report [1] - Date: May 21, 2025 [2] - Research Team: Energy and Chemical Research Team [4] Industry Investment Rating - Not provided Core Viewpoint - The fundamental pattern of pulp remains weak, and it may continue to fluctuate and adjust in a low - level range in the future [7] Summary by Directory 1. Market Review and Operation Suggestions - Pulp futures contract 09 had a previous settlement price of 5,320 yuan/ton and a closing price of 5,322 yuan/ton, rising 0.04% overall. The intended transaction price range of softwood pulp in the Shandong wood pulp market was 5,400 - 6,750 yuan/ton, with the low - end price remaining stable compared to the previous trading day's closing price. The Shandong Yinxing was quoted at 6,300 yuan/ton [7] - In May, there were many rumors about the import wood pulp FOB prices, but the official offers were not clear, and the market was still in the negotiation stage with strong wait - and - see sentiment [7] - According to PPPC data, the shipment volume of softwood pulp from 20 major pulp - producing countries in the world increased by 11.7% year - on - year in March, and the cumulative increase from January to March was 4.1% year - on - year. In April, China's pulp import volume was 2.89 million tons, a month - on - month decrease of 11.1% and a year - on - year decrease of 10.2% [7] - As of May 15, the weekly pulp inventory in major regions and ports increased by 11.45% month - on - month. Only the inventory in Baoding decreased compared to the previous week, while the inventory in other major ports increased, and the overall shipment speed did not improve significantly [7] - The downstream is currently in the off - season of consumption, and the enthusiasm for raw material procurement is insufficient [7] 2. Industry News - On May 8, the launch meeting of the digital factory project of Guangdong Oubi Personal Care Products Co., Ltd. was held. The project will focus on building an MOM digital operation platform, constructing a digital lean management system covering the entire chain, and creating a new benchmark for intelligent manufacturing in the personal care products industry. The application of the MOM system will reconstruct Oubi's production model, enabling intelligent decision - making on equipment collaboration, process optimization, and resource scheduling through real - time data collection and analysis, and significantly improving production flexibility and response speed [8] 3. Data Overview - Multiple data charts are provided, including cross - period spreads, spot prices of imported bleached softwood pulp, pulp futures prices, basis, inventory data of domestic and European ports, and prices and spreads of various paper products, with data sources mainly from Wind and Zhuochuang Information [13][21][27]