Financial Data and Key Metrics Changes - Total revenue declined by 18% year on year due to strategic restructuring and increased point redemption by customers [5][6][21] - The elevated effective tax rate was primarily due to non-deductibility of some executive compensation and temporary timing differences in aircraft sales recognition [6][7] Business Line Data and Key Metrics Changes - The average customer spending is trending lower than last year, but there are early signs of recovery in certain areas such as the gorilla clinic [5][6] - The Jun clinic and Neo Skin clinic are achieving an average spend per customer that exceeds existing clinics, indicating strong growth potential [12][13] Market Data and Key Metrics Changes - The aesthetics medicine industry in Japan is experiencing severe competition, yet customer visits have increased to 6,310,000 annually, with a high repeat rate of 72% [4][5] - The dermatological aesthetics segment is showing a higher growth rate, presenting significant growth potential [10] Company Strategy and Development Direction - The company is implementing a multi-brand strategy tailored to different market segments to meet diverse customer needs [10][14] - The focus is on enhancing the medical tourism business, particularly targeting Chinese tourists [15] - The company aims to expand its clinic network from 260 to 1,000 clinics over the next ten years [32] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that while there were negative factors impacting performance, they believe the business will improve moving forward [35][41] - The company is entering a phase of growth investment after completing business restructuring [44] Other Important Information - The company conducted its first-ever share buyback from May to July, which positively impacted share price and liquidity [22][44] - The company is considering new share issuance and partial sale by the founder to improve accessibility for a broader investor base [22][46] Q&A Session Summary Question: Are the new clinics starting up as planned? - Newly opened clinics are seeing steady customer visits, with an increase in male customers noted [24][25] Question: What is the future pricing trend? - The company is adopting a multi-brand strategy with different pricing tiers to meet varying customer needs [26] Question: Can you explain the growth strategy regarding organic and inorganic growth? - The company plans to proactively open new clinics and conduct M&A, with a strong track record of turning around acquired clinics [27][29] Question: How many clinics are you planning to open in Japan? - The company aims to increase the number of clinics to 1,000 over the next ten years [32] Question: What is the outlook for future profitability? - The company expects to secure sufficient margins and improve overall profitability as new clinics are established [34] Question: How is the company addressing the current share price trend? - The company is focusing on improving liquidity through share buybacks and considering dividend payments [43][44] Question: What are the plans for the CEO's shareholding? - The CEO is considering selling shares to improve liquidity and fund investments [46]

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [5] Core Views - The company reported a revenue of 859 million yuan for H1 2025, representing a year-on-year increase of 42.43%, and a net profit attributable to the parent company of 392 million yuan, up 26.65% year-on-year [1] - The company is expected to experience growth driven by new gel products and international expansion, with projected revenues of 2.194 billion yuan, 3.000 billion yuan, and 3.796 billion yuan for 2025, 2026, and 2027 respectively [4] Financial Performance Summary - In H1 2025, the gross margin was 90.68%, a decrease of 0.90 percentage points year-on-year, while the net profit margin was 45.66%, down 5.69 percentage points year-on-year [2] - The medical device segment generated 708 million yuan in revenue for H1 2025, a year-on-year increase of 33.41%, accounting for 82.45% of total revenue [3] - The functional skincare segment saw significant growth, with revenue of 121 million yuan, up 152.39% year-on-year, representing 14.10% of total revenue [3] Product and Market Development - The company has launched new high-end gel products, with expectations for increased sales in the second half of the year [4] - The company is accelerating its international expansion, having received new approvals in Thailand and obtained four international invention patents [4]

Market Overview - The medical beauty sector experienced a decline of 0.21% on August 13, with Jinbo Biological leading the drop [1] - The Shanghai Composite Index closed at 3683.46, up 0.48%, while the Shenzhen Component Index closed at 11551.36, up 1.76% [1] Individual Stock Performance - ST Meigu closed at 3.15 with no change, trading volume of 88,100 shares, and a transaction value of 27.62 million yuan [1] - Huaxi Biological closed at 53.60, down 0.09%, with a trading volume of 40,900 shares and a transaction value of 218 million yuan [1] - Aimeike closed at 186.00, down 0.29%, with a trading volume of 32,400 shares and a transaction value of 600 million yuan [1] - Jinbo Biological closed at 301.49, down 0.49%, with a trading volume of 8,955 shares and a transaction value of 271 million yuan [1] Capital Flow Analysis - The medical beauty sector saw a net outflow of 63.94 million yuan from institutional investors, while retail investors had a net inflow of 61.61 million yuan [1] - Speculative funds recorded a net inflow of 2.34 million yuan [1] Additional Stock Data - ST Meigu reported a net outflow of 3.73 million yuan, a decrease of 13.52% [2] - Huaxi Biological had a net outflow of 16.99 million yuan, a decrease of 7.78% [2] - Aimeike experienced a net outflow of 43.22 million yuan, a decrease of 7.20% [2]

Core Viewpoint - The E'min County Market Supervision Administration is actively addressing false and illegal advertisements in high-frequency consumer areas such as food, medicine, real estate, education, and healthcare, aiming to protect the public's financial and health rights through targeted regulation and collaborative enforcement [1][2][3] Group 1: Targeted Regulation - The administration focuses on key areas of concern, including food and drug safety, housing consumption traps, and medical beauty advertising, implementing strict checks and balances [1][2] - Specific actions include investigating medical advertisements for proper approvals, scrutinizing real estate ads for false promises, and regulating medical beauty ads that use absolute terms [2] Group 2: Collaborative Enforcement - A multi-departmental collaboration has been established to enhance regulatory effectiveness, involving coordination with health, housing, education, and cultural departments [2] - Online advertisements are being monitored through extensive checks, with over 60 ads reviewed and 16 illegal leads corrected [2] Group 3: Industry Self-Regulation - The administration promotes self-regulation within industries by conducting compliance training sessions and guiding companies on advertising laws to minimize legal risks [3] - Initiatives include creating educational content to help the public identify false advertisements and improve consumer awareness [3] Group 4: Future Directions - The administration plans to continue focusing on consumer concerns in daily life, ensuring that truthful and lawful advertising becomes a guiding principle for safe consumption [3]

证券之星消息，8月12日医疗美容板块较上一交易日上涨0.16%，*ST美谷领涨。当日上证指数报收于 3665.92，上涨0.5%。深证成指报收于11351.63，上涨0.53%。医疗美容板块个股涨跌见下表： | 代码 | | | 名称 | | | | | --- | --- | --- | --- | --- | --- | --- | | 688363 华熙生物 | 1803.13万 | 5.27% | 900.06万 | 2.63% | -2703.19万 | -7.89% | | 000615 *ST美谷 | 639.16万 | 13.49% | -212.57万 | -4.49% | -426.59万 | -9.00% | | 300896 爱美客 | -176.08万 | -0.27% | 1005.58万 | 1.57% | -829.50万 | -1.29% | 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 从资金流向上来看，当日医疗美容板块主力资金净流入2266.21万元，游资资金净流入1693.07万元，散户 资金 ...

新华社杭州7月18日电 题：准大学生专属"变美福利"？美丽背后有风险！ 新华社记者黄筱 "高考学子变美套餐""专属毕业福利，只为青春的你""准大学生青春无暇方案"……高考结束后，不少医美机构为高中毕业生"量身定制"了变 美计划，让青少年心动不已，"考驾照、去旅行、做医美"成了他们追捧的暑期生活"三件套"。 然而，面对纷繁多样的医美项目，家长和准大学生们往往对背后的风险认识不足。专家提醒，医疗美容都有风险，建议家长和准大学生们理 性选择。 准大学生们暑期"扎堆"做医美，学生患者增三成 "我孩子脸上痘痘太多了，有没有什么项目能治好？" "我想割双眼皮，不要太假、要自然点。" 暑期一个工作日的上午，记者在浙江省立同德医院整形美容科主任医师钱坚革的门诊中看到，不少学生模样的患者在家长陪同下问诊。"有 很多有主见的孩子，自己很明确要做什么医美项目。"钱坚革说。 浙江省立同德医院整形美容科主任医师钱坚革面诊前来咨询医美项目的青少年。（受访者供图） 据医院统计，这几年有个明显趋势：高考结束、暑假开始，整形美容科就会迎来就诊高峰，门诊量增加三成左右，这些增量以高中毕业生为 主；医生们的手术量也随之上升，有医生一天甚至要排六七 ...

Core Viewpoint - The revocation of the exclusive distribution rights for AestheFill (童颜针) by Regen has led to significant turmoil for *ST Suwu, resulting in a sharp decline in its stock price and potential legal battles for compensation [1] Group 1: Company Actions - On July 18, Regen sent a termination letter to Dato Medical, revoking its exclusive distribution rights for AestheFill in China [1] - In response, *ST Suwu announced on August 11 that its subsidiary Dato Medical has initiated arbitration against Regen for breach of contract, seeking initial compensation of 1.6 billion RMB [1] - *ST Suwu issued a strong statement condemning the actions of Aimeike, describing them as "capital bullying" and claiming that the situation has jeopardized the survival of the company and its subsidiary [1] Group 2: Financial Impact - The stock price of *ST Suwu experienced consecutive trading halts following the announcement of the revocation of distribution rights [1] - The company claims that over 80,000 small and medium investors have been severely affected, along with thousands of employees and numerous partner institutions facing significant losses [1]

风险提示：投资有风险，入市需谨慎。 来源：金融界 该公司属于医疗美容行业，专注于生物医用材料的研发、生产和销售。主要产品包括注射用透明质酸钠 系列、聚对二氧环己酮面部埋植线等。 爱美客近期卷入一起涉及16亿元的童颜针产品代理权纠纷。其控股子公司RegenBiotech被ST苏吴旗下达 透医疗提起仲裁，要求继续履行独家代理协议或赔偿16亿元损失。该仲裁案件已于8月7日获深圳国际仲 裁院受理立案。 爱美客最新股价为187.10元，较前一交易日上涨1.93%。盘中最高触及188.50元，最低下探182.80元，成 交金额达4.78亿元。 ...

Group 1 - The medical beauty sector rose by 1.64% on August 11, with Ai Meike leading the gains [1] - The Shanghai Composite Index closed at 3647.55, up 0.34%, while the Shenzhen Component Index closed at 11291.43, up 1.46% [1] - The trading volume and turnover for key stocks in the medical beauty sector were as follows: Ai Meike (25,700 hands, 478 million yuan), Huaxi Biological (38,100 hands, 202 million yuan), Jinbo Biological (7,768 hands, 24.7 million yuan), and *ST Meigu (89,200 hands, 27.53 million yuan) [1] Group 2 - The net capital flow in the medical beauty sector showed a net outflow of 9.1 million yuan from institutional investors, while retail investors had a net inflow of 7.89 million yuan [1] - The individual stock capital flow indicated that Ai Meike had a net outflow of 11.18 million yuan, while *ST Meigu experienced a net inflow of 4.11 million yuan [2]

Core Viewpoint - Ruili Medical Beauty (02135) anticipates a decline in revenue and an increase in losses for the six months ending June 30, 2025, compared to the same period in 2024 [1] Financial Performance - Expected revenue for the six months ending June 30, 2025, is approximately RMB 85 million, down from RMB 117 million for the same period in 2024 [1] - Anticipated loss attributable to the parent company for the six months ending June 30, 2025, is approximately RMB 8 million, compared to a loss of RMB 2 million for the same period in 2024 [1] Reasons for Loss - The board attributes the loss primarily to intense market competition, resulting in a total revenue decline of approximately RMB 32 million compared to the same period in 2024 [1] - The medical beauty services and medical beauty management consulting services segment is expected to incur an operational loss of approximately RMB 2 million during the reporting period [1] - Share-based payment expenses are estimated at approximately RMB 1 million during the reporting period [1] - Increased investment in research and development for medical device products, particularly in the indirect non-wholly owned subsidiary Suzhou Ruichuan Biomedical Technology Co., Ltd., with management and R&D expenses amounting to approximately RMB 1 million [1]