（文章来源：证券日报） 证券日报网讯 1月5日，拉芳家化在互动平台回答投资者提问时表示，公司目前以洗护产品为主；化妆 品相关业务收入占公司营业收入比例较小。 ...

（记者 曾健辉） 每经AI快讯，有投资者在投资者互动平台提问：您好，公司除了做洗护类的产品，还做化妆品美容这 些产品吗？化妆品这些产品占营收利润比例高吗？ 拉芳家化（603630.SH）1月5日在投资者互动平台表示，您好，公司目前以洗护产品为主；化妆品相关 业务收入占公司营业收入比例较小。谢谢！ ...

Core Viewpoint - Jiaheng Jiahua (300955) announced a share transfer agreement involving its founder and actual controller, Zeng Bensheng, who will transfer a total of 29.70% of the company's shares to Hangzhou Pinbianyi Network Technology Co., Ltd. and two other entities at a price of 33.21 CNY per share. This move is seen as a strategic investment to help the company improve its operational capabilities amid declining performance [2][3][4]. Group 1: Share Transfer Details - Zeng Bensheng signed a share transfer agreement with Hangzhou Pinbianyi to transfer 19.40% of the company's shares, amounting to 19,555,200 shares [3]. - A second agreement was signed with Wenzhou Cangxiao Enterprise Management Partnership to transfer 5.20% of the shares, totaling 5,241,600 shares [3]. - A third agreement was made with Hangzhou Runyi Enterprise Management Consulting Partnership to transfer 5.10% of the shares, totaling 5,140,800 shares [4]. Group 2: Offer and Financial Implications - Following the share transfer, Hangzhou Pinbianyi plans to launch a partial tender offer to acquire an additional 21.10% of the company's shares, which amounts to 21,268,800 shares [5]. - The total estimated funding required for this tender offer is not expected to exceed 706 million CNY, with a performance guarantee of 141 million CNY to be deposited within two trading days [6]. - The acquisition aims to enhance the company's long-term value and operational capabilities, leveraging the acquirer's resources in the consumer goods sector [6]. Group 3: Company Performance Context - Jiaheng Jiahua has faced declining performance, with revenue decreasing by 9.45% in 2022 and 3.41% in 2023, and a net profit drop of 28.25% and 42.39% in the same years [7]. - In 2024, the company reported its first loss since going public, with a loss of 23.7 million CNY and a revenue decline of 9.13% [7]. - By the third quarter of 2025, the company reported a revenue of 860 million CNY, a year-on-year increase of 24.42%, but a net loss of 29.5 million CNY, surpassing the total loss of the previous year [7].

本次活动是闵行工会深化"暖心服务"品牌、丰富职工精神文化生活的具体举措。为深入贯彻促进消费、服务职工群众的部署要求，切实将关怀温暖送达一 线，顺应"票根经济"等消费新趋势，现场当天同步推出"观影惠享"系列福利：职工凭当日电影票根，可至指定商户免费兑换"菜肉馄饨"一份，还能领取价值 50元的商场通用代金券，覆盖超百家入驻品牌，实惠直达职工生活。 12月27日下午，由闵行区总工会与区商务委员会联合主办的"闵行工会职工送温暖、促消费活动"暨职工主题观影活动，在上海虹桥前湾印象城MEGA举行。 区内劳模工匠、新就业形态劳动者及各行业一线职工携家属共300余人齐聚一堂，共享温情时光。 恰逢上影新片《菜肉馄饨》在全国影院正式上映之际，活动现场，职工们共同观赏了这部充满温情的沪语影片，在银幕内外的袅袅烟火气中，共话家常、温 暖交融。影片主创团队专程到场，与劳模、工匠及职工代表亲切互动，共同回味电影承载的城市记忆与人文情怀，分享各自的奋斗历程与创作心得，在真诚 交流中激荡劳动光荣、匠心传承的精神共鸣。 活动现场还设立"闵工惠"幸福集市快闪区，蜂花檀香皂、蝴蝶酥、新雅食品等沪上知名品牌集中展销，氤氲着老上海的味道；同时配套提供 ...

Core Insights - The core philosophy of consumer spending in 2023 is summarized as "willingness to spend," reflecting a shift towards more conscious and personalized consumption choices [4] Group 1: Consumer Trends - Consumers are increasingly focused on product ingredients and efficacy, with significant growth in skincare products, particularly anti-aging and hydrating items, showing double-digit growth on platforms like Tmall [6] - Outdoor and sports equipment have seen a rise in interest, with smart wearables experiencing nearly 50% growth in sales, indicating a trend towards informed and specialized purchases [6] - The popularity of niche and domestic luxury brands has surged, with sales of certain categories like earphones and bags increasing over 200% on Tmall, highlighting a shift towards unique and personalized fashion choices [9][11] Group 2: Emotional and Cultural Spending - Emotional spending is on the rise, with consumers willing to invest in products that enhance their mood, such as plush toys and home decor, with categories like EDC seeing over 500% growth [14] - There is a notable resurgence in traditional Chinese aesthetics, with gold jewelry sales increasing over 300% and a growing interest in cultural products, indicating a blend of modern and traditional values in consumer behavior [16] - The demand for multifunctional smart home devices has increased, with sales of electric smart beds and multifunctional furniture doubling, reflecting a desire for convenience and efficiency in home life [18] Group 3: Long-term Investment Mindset - Consumers are adopting a long-term investment approach to their purchases, particularly in clothing, with a significant increase in the budget for winter wear above 2000 yuan, indicating a preference for quality over quantity [11][12] - The trend of "financially savvy" spending is evident, as consumers seek products that offer longevity and value, with classic luxury items becoming more popular as they are viewed as investment pieces [11]

近日，广州的李女士在电商平台购买了清扬洗发水、奥妙洗衣液等日常用品。李女士不知道的是，她通过选购、使用这些产品，正在无意间参与了一 场"减碳实践"活动。这些产品以及品牌背后的企业——联合利华，应用"彩虹碳"策略，采用包括来自植物的绿碳、来自空气碳捕获的紫碳、来自海洋资源 的蓝碳和来自废弃物的灰碳。 联合利华的"彩虹碳"可持续战略，在南都湾财社举行的2025责任中国ESG年度盛典活动上，入选"绿色低碳创新实践案例"。作为一家将可持续发展融入血 脉的跨国企业，"彩虹碳"可持续战略如何在其庞大的体系中落地生根？从工厂的轰鸣机器到研发中心的创新实验室，再到触手可及的产品，绿色理念如何 贯穿始终？近日，南都湾财社ESG调研团带着这些疑问，深入联合利华在广州与上海的生产与研发基地，揭秘其可持续发展背后的实践密码，探讨商业向 上与碳索不止的无限可能。 洗发水、沐浴露、洗衣液等产品起到清洁作用，离不开表面活性剂这种主要成分。以往表面活性剂中的碳来源于石油资源，是不可再生的资源。那么，有 没有一些原料中的碳是可回收且环保的呢？联合利华研发团队不仅将目光瞄准在橘子皮、海藻、秸秆等植物基（指植物、农作物废弃物等）上，通过生物 或化 ...

Core Viewpoint - Jiaheng Jiahua is planning a change in control, leading to a temporary suspension of its stock trading, amid ongoing performance deterioration since the second generation took over a year ago [1][3][6]. Group 1: Control Change Announcement - On December 24, Jiaheng Jiahua announced that it would suspend trading of its stock starting December 25 due to a planned change in control [1][3]. - The controlling shareholder, Zeng Bensheng, is in discussions regarding the change, which may result in a shift in the company's actual controller [3][8]. Group 2: Stock Performance - On the announcement day, Jiaheng Jiahua's stock price surged over 13% during trading, closing at 41.51 yuan per share, with a market capitalization of 4.18 billion yuan [3][8]. - The stock has seen a year-to-date increase of 167% [3][8]. Group 3: Company Background - Jiaheng Jiahua specializes in OEM/ODM for daily chemical products and the design and production of plastic packaging containers, serving well-known global and domestic brands [3][8]. - The company went public on the Shenzhen Stock Exchange's Growth Enterprise Market in March 2021 [3][8]. Group 4: Management Transition - In November 2024, the company completed a board restructuring, with Zeng Bensheng stepping back and his son, Zeng Huanbin, becoming the chairman and continuing as general manager [3][8]. - Zeng Bensheng's daughter, Zeng Yapin, was appointed as vice chairman and vice general manager, marking the completion of the second-generation succession [3][8]. Group 5: Financial Performance - Jiaheng Jiahua has experienced continuous revenue decline, with revenues dropping by 9.45% in 2022 and 3.41% in 2023, while net profit fell by 28.25% and 42.39% respectively [4][9]. - In 2024, the company reported its first loss since going public, with a loss of 23.697 million yuan and a revenue decline of 9.13% [4][9]. - For the first three quarters of this year, the company achieved a revenue of 860 million yuan, a year-on-year increase of 24.42%, but reported a net loss of 29.5005 million yuan, exceeding the total loss of the previous year [10].

嘉亨家化股票将停牌。 12月24日晚间， 嘉亨家化（ 300955 ）发布公告称，公司 控股股东曾本生正在筹划控制权变更相关事宜，该事项可能导致公司控股 股东、实际控制人发生变更。经公司向深圳证券交易所申请，公司股票（证券简称：嘉亨家化，证券代码：300955）自2025年12月 25日（星期四）开市起停牌，预计停牌时间不超过2个交易日。 Wind行情资料显示，今日（12月24日），嘉亨家化股价盘中大涨，一度涨超13%，截至收盘，公司股价报41.51元/股，涨幅为 8.32%。 公开资料显示，嘉亨家化主要从事日化产品OEM/ODM及塑料包装容器的研发设计、生产，具备化妆品和家庭护理产品的研发、配 制、灌装及塑料包装容器设计、制造的一体化综合服务能力。公司以日化产品OEM/ODM与塑料包装业务协同发展为策略，可为国内 外知名日化企业提供日化产品及配套塑料包装的一站式服务。业绩方面，今年前三季度，公司实现营业收入8.6亿元，同比增长 24.42%；实现归母净利润-2950.05万元，同比转亏。 | | 本报告期 | 本报告期比上年同期 | 年初全报告期末 | 年初全报告期末比上 | | --- | --- | - ...

12月24日晚，嘉亨家化（300955）公告，公司于2025年12月24日收到控股股东曾本生的通知，获悉控股 股东曾本生正在筹划控制权变更相关事宜，该事项可能导致公司控股股东、实际控制人发生变更。 嘉亨家化表示，目前，该事项尚处于筹划中，存在重大不确定性，各方主体正在就具体方案、协议等相 关事项进行论证和磋商，具体情况以各方签订的相关协议为准。 该公司主要产品包括护肤类、洗护类、香水等化妆品，香皂、消毒液、洗手液等家庭护理产品，以及配 套的塑料包装容器，产品主要用于个人美容护肤、家庭清洁等领域，公司的主要客户为科赴、贝泰妮、 上海家化、郁美净、利洁时、维多利亚的秘密、多特瑞、宝洁、壳牌等国内外知名公司。 2025年前三季度，嘉亨家化营收8.596亿元，同比增长24.42%，净亏损2950万元。 国家统计局数据显示，2015—2024 年期间，我国化妆品零售总额总体保持增长趋势，2024 年我国化妆 品行业零售总额实现4356.5亿元，同比下降1.1%。2025年1—6 月我国社会消费品零售总额 245,458.4亿 元，同比上升5.0%，其中国内限额以上化妆品零售额2290.8亿元，同比上升2.9%。2025 ...

Core Insights - The article discusses the shift in marketing strategies from targeting mass markets to focusing on niche markets, highlighting that brands are increasingly finding success by catering to specific consumer needs rather than trying to appeal to everyone [4][11][53]. Group 1: Market Dynamics - The traditional approach of mass marketing is becoming less effective as consumer preferences evolve and markets become saturated [15][19]. - Brands that once dominated through broad appeal are now facing challenges as they attempt to satisfy diverse consumer demands, leading to increased competition and lower profit margins [12][16]. - The rise of niche brands is attributed to their ability to address specific pain points that larger brands overlook, allowing them to establish a loyal customer base and maintain pricing power [17][41]. Group 2: Consumer Behavior - Modern consumers, particularly younger generations, prioritize self-expression and individuality in their purchasing decisions, often choosing niche products that reflect their personal values and identities [28][30]. - The shift from functional needs to self-expression means that consumers are willing to pay a premium for products that resonate with their personal beliefs and lifestyles [30][41]. Group 3: Marketing Strategies - Successful niche brands focus on creating exceptional products tailored to specific market segments, often disregarding broader appeal in favor of deep engagement with a targeted audience [35][37]. - The effectiveness of marketing has shifted from mass persuasion to attracting the right audience through unique brand values and aesthetics, reducing marketing costs while increasing customer loyalty [49][51]. - Brands like Lululemon and Patagonia exemplify this strategy by initially targeting specific consumer groups and building strong brand identities that resonate with their core audience [43][44]. Group 4: Future Implications - The article suggests that the concept of a unified mass market is fading, with brands needing to adapt by embracing niche strategies to survive in an increasingly fragmented market [53][54]. - Companies that fail to develop a distinct niche focus risk becoming irrelevant in a landscape dominated by specialized brands that cater to specific consumer needs [55][56].