中国前15大高端护肤品牌(含国际品牌)中唯一的国货代表。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，上海林清轩化妆品集团股份有限公司（以下简称"林清轩"）于2025年12月30日 正式以"2657"为股票代码在港交所主板挂牌上市，成为港股市场"国货高端护肤第一股"。 林清轩在本次IPO中总计发行13,966,450 股H 股。其中，香港公开发售获1235.81倍认购，国际发 售获19.79倍认购，并引入富达基金、大湾区共同家园投资GBA、正心谷、Duckling Fund、SS Capital、大家保险集团、Yield Royal Investment等7名基石投资者，累计认购6200万美元。 截至上市首日收盘，林清轩报于每股85.00港元，市值超118亿港元。以此市值计算，林清轩也已跻 身国货上市化妆品企业TOP10。 目前，林清轩山茶花抗皱精华油已推出第5代，定位「细胞级」抗皱精华油，在功效验证、核心成分 配比、产品包装等方面都实现了全面迭代，以更精准的抗皱科技守护每一寸肌肤。与此同时，围绕这 一核心大单品，林清轩持续拓宽产品矩阵，先后推 ...

Group 1 - Six companies, including Yingxi Intelligent, Woan Robotics, Linqingxuan, Meilian Co., Xunce, and Wuyi Vision, simultaneously listed on the Hong Kong stock market on December 30, marking a significant event as it is the first time in five years that six companies have gone public on the same day [1][2] - The last occurrence of six or seven companies listing on the same day was in July 2020, with the peak being eight companies on July 12, 2018 [2] - The trading hall at the Hong Kong Stock Exchange was crowded with employees and investors from the six companies, indicating a high level of interest and excitement surrounding the listings [3] Group 2 - Company leaders reflected on their growth and innovation during the listing ceremony, with notable remarks from Woan Robotics' founder, who emphasized the company's journey from a laboratory to a global leader in AI-driven household robotics [4] - Linqingxuan's founder announced plans for brand globalization and increased investment in research and development for skincare technology following their listing [5] - Xunce's executive director highlighted the importance of data intelligence in driving high-quality industrial development and expressed commitment to leveraging capital market resources for future growth [5] Group 3 - All six companies performed well on their first trading day, with none experiencing a drop in share price; Wuyi Vision and Yingxi Intelligent saw the highest increases at 29.90% and 24.66%, respectively [6] - Yingxi Intelligent's CEO noted that the oversubscription of their shares set multiple global records, showcasing the company's leading position in AI-driven drug development [6] - Wuyi Vision is recognized as the first Physical AI company to list on the capital market, with its core strength lying in its decade-long technological development [7] Group 4 - The year 2025 marked a significant recovery for the Hong Kong stock market, with a total of 117 companies listed and a total financing amount of 285.7 billion HKD, making it the top global market for new stock financing [8] - The market saw a notable increase in interest from international capital, particularly in the biotech and specialized technology sectors, with 88 companies from these fields listing on the Hong Kong Stock Exchange [8] - Major IPOs, including those from Ningde Times and Zijin Mining International, contributed to Hong Kong's return to the top of the global IPO rankings, with many of the top IPOs being spin-offs from A-share companies [9]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603605 证券简称：珀莱雅公告编号：2025-081 债券代码：113634 债券简称：珀莱转债 珀莱雅化妆品股份有限公司关于以集中竞价交易方式回购股份方案的公告暨回购报告书 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 重要内容提示： ● 回购股份金额：不低于人民币8,000万元（含本数）,不超过人民币15,000万元（含本数） ● 回购股份资金来源：珀莱雅化妆品股份有限公司（以下简称"公司"）自有资金 ● 回购股份用途：用于股权激励或员工持股计划 ● 回购股份价格：本次回购的价格不超过人民币100元/股（含），不高于董事会通过回购决议前30个交 易日公司股票交易均价的150% ● 回购股份方式：集中竞价交易方式 ● 回购股份期限：自公司董事会审议通过本次回购股份方案之日起12个月内 ● 相关股东是否存在减持计划： 经公司函询，截至本次董事会决议作出日，公司控股股东、实际控制人、董事、高级管理人员及持股 5%以上股东，在未来3个月、未来6个月内暂无股份减持 ...

Core Viewpoint - The company, Shanghai Lily & Beauty Cosmetics Co., Ltd., is providing guarantees for its wholly-owned subsidiary, Lily & Beauty (Hong Kong) Limited, to support its e-commerce business expansion on various platforms, with a total guarantee amount of 15 million yuan [1][2]. Group 1: Guarantee Details - The company will issue relevant statements or guarantee letters for the Hong Kong subsidiary's new brand stores and daily operations on major e-commerce platforms, with an estimated guarantee amount of 15 million yuan and a duration until June 30, 2026 [2]. - The company has approved the guarantee amount through its audit committee and board meetings held on August 25, 2025, and subsequently adjusted the guarantee amount due to the Hong Kong subsidiary's asset-liability ratio exceeding 70% [2][3]. Group 2: Progress and Necessity of Guarantee - As of December 2025, the company has not increased or decreased the guarantee amount, maintaining an external guarantee balance of 30,000 yuan, which is a negligible percentage of the company's audited net assets [4][5]. - The necessity of the guarantee is justified as it supports the Hong Kong subsidiary's need to establish new cross-border overseas stores, and the company maintains good control over the subsidiary's credit status [4]. Group 3: Board Opinions and Compliance - The board of directors believes that the guarantees provided are in line with the company's actual situation, comply with relevant laws and regulations, and do not harm the interests of the company or its shareholders, particularly minority shareholders [4].

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 重要内容提示： ● 回购股份价格：本次回购的价格不超过人民币100元/股（含），不高于董事会通过回购决议前30个交 易日公司股票交易均价的150% 经公司函询，截至本次董事会决议作出日，公司控股股东、实际控制人、董事、高级管理人员及持股 5%以上股东，在未来3个月、未来6个月内暂无股份减持计划。若上述主体后续拟实施股份减持计划， 公司将按照相关规定及时履行信息披露义务。 ● 相关风险提示： 1、本次回购存在回购期限内，公司股票价格持续超出回购方案价格上限，导致回购方案无法实施或只 能部分实施的风险； 2、因公司生产经营、财务状况、外部客观情况发生重大变化，或其他导致公司董事会决定终止本次回 购的事项发生，可能存在本次回购方案无法顺利实施的风险； 3、本次回购股份将用于实施股权激励或员工持股计划，可能存在因股权激励或员工持股计划未能经公 司董事会和股东会等决策机构审议通过、股权激励或员工持股计划认购对象放弃认购等原因，导致回购 ...

Core Viewpoint - The company, Betaini, is leveraging the rich plant resources of Yunnan to develop and register new plant-based raw materials for cosmetics, with a focus on biodiversity protection and innovative applications in skincare products [1][4]. Group 1: Plant Resource Development - Yunnan, known as the "Kingdom of Plants," has over 19,300 species of higher plants, many of which are unique or rare in China, providing a strong resource base for Betaini's new raw material development [1]. - Betaini's research team has screened over 2,000 local plants, identifying 266 with cosmetic efficacy, and has successfully registered 17 new plant raw materials [1]. - Seven of these new raw materials have been applied in products under the brands Winona, Aikeman, and Beifuting, focusing on soothing, moisturizing, and other skincare benefits [1]. Group 2: Technological and Intellectual Property Development - Winona has achieved core technology autonomy throughout the R&D and industrialization process, establishing a robust intellectual property protection system centered on patents [2]. - The company has integrated brand synergy and comprehensive intellectual property strategies to support high-quality development [2]. Group 3: Comprehensive Service Platform - Betaini is leading the establishment of a Yunnan characteristic plant extraction laboratory, focusing on the development of functional cosmetics, food, and pharmaceuticals [3]. - The laboratory provides a full-service platform for product development, including design, target research, raw material selection, formulation, safety, and efficacy evaluation [3]. - It aims to create a cluster of characteristic plant products and enterprises, extending the industrial chain and developing high-value health products [3]. Group 4: Biodiversity Protection and Sustainable Development - The R&D team collaborates with local planting bases and communities to build raw material bases, ensuring stable supply and quality while protecting biodiversity [4]. - Betaini is committed to long-term development and biodiversity education, with initiatives like the ecological restoration project in Haba Snow Mountain [6]. - The company aims to promote the innovative application of Yunnan's plant resources on a global scale, contributing to the cosmetics industry with unique Chinese characteristics [6].

Group 1 - The company, Furida, is focusing on the national cosmetic regulatory reform requirements to enhance its operations [2] - The company aims to deepen the integration of the entire supply chain, including research, production, sales, and marketing [2] - Furida is committed to advancing high-quality development through smart and flexible production and precise marketing upgrades [2]

Group 1 - The company is accelerating its brand internationalization efforts, focusing on key brands such as Yilian and Aier Doctor [1] - The company leverages international platforms like the China International Import Expo to connect with global resources [1] - The company is deepening cooperation with international partners, expanding its collaboration scope beyond raw material exports to enhance brand influence overseas [1]

Core Viewpoint - Lin Qingxuan has officially listed on the Hong Kong Stock Exchange, becoming the first high-end domestic skincare brand in the Hong Kong market, focusing on anti-wrinkle and firming skincare products with a commitment to quality and supply chain control [1][2]. Group 1: Company Overview - Lin Qingxuan specializes in high-end skincare products, particularly in the anti-wrinkle and firming segment, utilizing natural camellia flower as a core ingredient [1]. - The company has established a complete value chain from seedling cultivation to production and sales, ensuring product quality and stable supply [1]. - As of 2024, Lin Qingxuan ranks first among domestic high-end skincare brands and is the only domestic representative among China's top 15 high-end skincare brands [1]. Group 2: Financial Performance - From 2022 to 2024, Lin Qingxuan's revenue is projected to grow from 690 million to 1.21 billion, with a compound annual growth rate of 32.3% [2]. - In the first half of 2025, revenue surged by 98.3% year-on-year, reaching 1.052 billion, while adjusted net profit increased by 117.4% to 200 million [2]. Group 3: Industry Impact and Future Outlook - Lin Qingxuan's listing is seen as a catalyst for the high-end transformation of domestic beauty brands, encouraging more brands to enhance their R&D and establish core technologies [2]. - The company plans to use the funds raised from the IPO to improve production efficiency, advance global branding, and digital transformation, aiming for sustained high growth and international recognition [3]. - The founder emphasizes ongoing investment in dermatology, botany, and cutting-edge skincare technology, alongside brand development and retail expansion to enhance customer experience and shareholder value [3].

Core Insights - Six companies, including Yingxi Intelligent, Woan Robotics, Linqingxuan, Meilian Holdings, Xunce, and Wuyi Vision, simultaneously listed on the Hong Kong Stock Exchange on December 30, marking the end of the 2025 IPO season and the first time in five years that six companies have listed on the same day [1][10] Group 1: Market Activity - The Hong Kong IPO market saw a significant increase in activity in 2025, with a total of 117 companies listed and a total fundraising amount of 285.7 billion HKD, making it the highest globally [14] - The average daily trading volume reached a historical high, indicating a robust market environment [14] - The successful listing of six companies on the same day is expected to lead to continued strong IPO activity in 2026, with predictions of around 160 new listings and total fundraising of at least 300 billion HKD [15] Group 2: Company Performances - All six companies listed on December 30 performed well, with no company experiencing a drop below the issue price on the first day of trading [10] - Wuyi Vision and Yingxi Intelligent had the highest first-day gains, with increases of 29.90% and 24.66%, respectively [10] - Yingxi Intelligent's public offering saw a subscription rate of 1427.37 times, indicating strong investor interest [10] Group 3: Company Highlights - Woan Robotics, a leader in AI-driven household robotics, emphasized its commitment to innovation and responsibility in the AI industrial revolution during its listing speech [8] - Linqingxuan, a domestic skincare brand, announced plans for global expansion and increased investment in research and development following its listing [9] - Xunce, a provider of real-time data infrastructure, expressed its belief in data intelligence as a core driver of high-quality industrial development [9] Group 4: Investment Insights - High-profile investors, such as Hillhouse Capital, backed both Yingxi Intelligent and Woan Robotics, highlighting a trend of AI applications in complex industrial scenarios [13] - Wuyi Vision is noted as the first Physical AI company to list in China, showcasing its unique capabilities in connecting the digital and physical worlds [13]