Core Viewpoint - Jiahen Jiahua is planning a change in control, leading to a potential shift in its major shareholder and actual controller, with stock suspension starting from December 25, 2025, for up to two trading days [2] Group 1: Company Control Change - The company announced that its controlling shareholder, Zeng Bensheng, is in the process of planning a change in control, which may result in a change of the company's major shareholder and actual controller [2] - The matter is still in the planning stage, with significant uncertainty, and all parties are discussing specific plans and agreements [2] Group 2: Company Products and Clients - Jiahen Jiahua's product range includes skincare, hair care, perfumes, household care products like soap and disinfectants, and associated plastic packaging [2] - Major clients include well-known domestic and international brands such as Beitaini, Shanghai Jahwa, Yumaiting, Reckitt, Victoria's Secret, DoTerra, Procter & Gamble, Johnson & Johnson, and Shell [2] Group 3: Leadership Transition - In November 2024, Zeng Bensheng was granted the title of honorary chairman for life and stepped down from his roles as chairman and legal representative, with his son, Zeng Huanbin, taking over [2] - Zeng Bensheng's daughter, Zeng Yaping, has also joined the board as vice general manager and vice chairman, marking the official transition to the "second generation" leadership [3] Group 4: Financial Performance - For the first three quarters of 2025, Jiahen Jiahua reported revenue of 860 million yuan, a year-on-year increase of 24.42%, but a net profit loss of 29.5 million yuan, a dramatic decline of 1430.74% [3] - This marks the first loss in net profit attributable to the parent company in the first three quarters over the past five years [3] Group 5: Reasons for Profit Decline - The significant decline in net profit is attributed to changes in product sales structure and increased fixed costs from depreciation and amortization at Huzhou Jiahen [5] - Increased management expenses due to higher employee compensation and rising interest expenses from expanded bank loans have also contributed to the increase in period costs [5] Group 6: Stock Market Reaction - On December 24, 2025, Jiahen Jiahua's stock price surged, increasing by over 13% at one point, and closing up 8.32% at 41.51 yuan per share, with a total market value of 4.184 billion yuan [6]

Core Viewpoint - Jiaheng Jiahua is planning a change in control, leading to a potential shift in its major shareholder and actual controller, with stock suspension starting from December 25, 2025, for up to two trading days [1] Group 1: Company Control Change - The company announced that its controlling shareholder, Zeng Bensheng, is in the process of planning a change in control, which may result in a change of the major shareholder and actual controller [1] - The matter is still in the planning stage, with significant uncertainty, and parties are negotiating specific plans and agreements [1] Group 2: Company Performance - In the first three quarters of 2025, Jiaheng Jiahua reported revenue of 860 million yuan, a year-on-year increase of 24.42%, but a net loss of 29.5 million yuan, a dramatic decline of 1430.74% [3][5] - This marks the first time in five years that the company has reported a net loss in the first three quarters [3] Group 3: Financial Factors - The significant decline in net profit is attributed to changes in product sales structure, increased depreciation and amortization expenses, and rising management costs due to employee compensation and increased interest expenses from expanded bank loans [5] Group 4: Market Reaction - On December 24, 2025, the company's stock price surged, increasing by over 13% at one point, and closing up 8.32% at 41.51 yuan per share, with a total market capitalization of 4.184 billion yuan [6]

Summary of the Conference Call Company Overview - **Company**: 福瑞达 (Furida) - **Industry**: Cosmetics and Probiotics Key Points 1. Product Adjustments and Market Strategy - The **爱尔博士 (Aier Doctor)** probiotic series will suspend shipments by the end of 2024 due to market pricing issues, with a transition to the higher-margin **287 series** expected to complete by early 2026, alongside the launch of a new product, **王江酸 (Royal Jelly Acid)**, anticipated to drive growth in 2026. This strategy aims to protect brand integrity despite a potential short-term revenue decline of 5-10% [2][3][6] - The **颐莲 (Yilian)** brand is projected to grow rapidly in 2025, benefiting from the upgrade from **1.0 to 2.0 spray** products and effective endorsements, with expectations of double-digit growth for the year [2][5] 2. Channel Management and Inventory Control - The company has effectively addressed market pricing issues, with data indicating that the chaotic pricing phenomenon has been largely eliminated. This was achieved through a comprehensive channel management strategy, including the suspension of shipments to restore pricing integrity [2][6][7] - The company plans to increase the number of offline stores to enhance brand presence and scale, responding to the decline in online traffic benefits [8][9] 3. Product Performance and Future Expectations - The **287 series** has performed well, maintaining user retention despite price increases, and is expected to fill gaps left by declining other products [13] - The **王江酸** product, currently limited in promotion due to budget constraints, has received positive feedback and is expected to see significant growth with increased investment in 2026 [11][20] 4. Marketing and Sales Strategy - The company plans to collaborate with mid-tier influencers instead of top-tier ones, as the latter have shown declining efficiency. This shift is expected to enhance the effectiveness of marketing efforts [12] - The **颐莲** brand's marketing strategy includes a focus on high-margin non-spray products, aiming to reduce the spray product's share from 70-80% to around 65% by 2026 [15] 5. Financial Projections - The overall growth rate for **颐莲** is expected to be between 15-20% for 2025, despite a decline during the Double Eleven shopping festival being within expectations [14] - The company anticipates maintaining a gross margin of 80-85% for new products and aims to reduce costs through in-house production of raw materials and efficient packaging strategies [27] 6. Research and Development Focus - The company is prioritizing **王江酸** due to its high research barriers and broad application potential in skincare, health supplements, and medical aesthetics. This product is seen as a significant opportunity for future growth [20][21] 7. Challenges and Opportunities - The company acknowledges the challenges posed by regulatory scrutiny in the health supplement sector but is actively working to enhance its capabilities in this area, aiming to capitalize on the growing market [23][24] - The company is also exploring acquisition opportunities in the medical aesthetics and related pharmaceutical sectors, focusing on familiar fields to ensure successful integration and growth [26] 8. Internal Structure and Market Adaptation - Improvements have been made in aligning R&D with market needs, ensuring that product decisions are made collaboratively between teams to enhance market responsiveness [19] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting the company's proactive measures in addressing market challenges and its optimistic outlook for future growth.

本报讯 （记者袁传玺）天眼查工商信息显示，近日，毛戈平（杭州）化妆品商贸有限公司成立，注册 资本1.5亿元，经营范围包括化妆品零售、个人卫生用品销售、互联网销售、市场营销策划等。股东信 息显示，该公司由毛戈平（01318.HK）全资持股。 ...

证券之星消息，12月24日化妆品板块较上一交易日上涨0.73%，嘉亨家化领涨。当日上证指数报收于 3940.95，上涨0.53%。深证成指报收于13486.42，上涨0.88%。化妆品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300955 | 嘉亨家化 | 41.51 | 8.32% | 7.93万 | | 3.25 乙 | | 300132 | 青松股份 | 8.26 | 4.03% | 33.14万 | | 2.72亿 | | 300849 | 锦盛新材 | 16.44 | 1.54% | 3.26万 | 5332.58万 | | | 600315 | 上海家化 | 22.93 | 1.37% | - 3.05万 | 6938.73万 | | | 300740 | 水羊股份 | 21.62 | 1.22% | 8.64万 | | 1.86亿 | | 301371 | 敷尔佳 | 24.02 | 0.88% | 1.77万 | 4224.01万 | ...

从圣索菲亚（002572）教堂，到穿行城市的公交专线，2025年冬天不少来到哈尔滨的游客发现，这座城市多了一抹熟悉的"薇诺娜红"。 12月19日至12月21日，薇诺娜联合天猫聚划算欢聚日打造的「薇诺娜特护不红街区」在哈尔滨地标之一的圣索菲亚教堂前限时开放，成功将新品上市与"冰 雪热"深度绑定，打造了一场引发广泛共鸣的热点事件。 一、到冰雪里试一试：薇诺娜把护肤体验场搬进哈尔滨户外 冬季哈尔滨的低温、干燥、强风、室内外温差，本身正是干敏肌泛红、刺痛、起皮等问题的高发诱因。 对主打干敏修护的第二代薇诺娜特护滋润霜而言，「薇诺娜特护不红街区」的选址无疑是最具说服力的验证场。 快闪活动中，消费者可以在户外环境中直接试用产品，感知其在严寒环境下的滋润与舒缓表现。 同时，薇诺娜还结合在地特色与品牌元素，为体验者准备了青刺果奶茶、奶皮子糖葫芦等暖冬小惊喜，通过轻互动、好拍照的方式，让护肤体验自然融入冰 城的冬日生活。 配合新品上市，本月在哈尔滨冰雪季人流密集的黄金公交线路上，「薇诺娜特护滋润霜修护专列」持续运行。通过公共交通这一覆盖广泛、高渗透性媒介， 薇诺娜成功进入游客与本地居民日常视野，也将"我的脸都不红了"与第二代特 ...

调配、涂抹、等待凝固、整片揭下。 ——这套曾经只在美容院完成的护肤仪式，如今正以高于面膜市场均速的增长，走入千万家庭 的梳妆台。 最近，央视网纪实栏目《新视界》探访了中国护肤品牌"造物者"的研发实验室。画面中没有喧 嚣的生产线，也没有宏大的营销叙事，只有工程师与粉体、液体反复对话的"安静"日常。这场 被称为 "与材质的对话" 的研发 ，正悄然撬动一个被长期低估的细分赛道——软膜。 造物者（ZAOWOO），这个被沙利文认证为"中国软膜销量第一"的品牌，成立仅两年多便服 务超千万消费者，单月销售额突破5 0 0 0万，成为这股潮流中最受瞩目的推动者与定义者。 图：央视网纪实栏目《新视界》探访造物者软膜工厂 中国面膜市场的发展历程，是一部围绕"效率"与"体验"不断迭代的进化史。 根 据 欧 睿 国 际 的 数 据 ， 2 0 2 4 年 中 国 面 膜 市 场 整 体 规 模 已 达 5 8 7 亿 元 人 民 币 ， 步 入 存 量 竞 争 阶 段。其中，以即时便捷为核心优势的贴片面膜，凭借约6 2%的市场份额构筑了稳固的护城河， 但增长曲线已逐渐平缓，显露出创新内卷的疲态。 与此同时，一个源于专业院线、曾被大众 ...

每经AI快讯，青松股份（SZ 300132，收盘价：7.94元）12月23日晚间发布公告称，福建青松股份有限 公司于2025年12月23日第五届董事会第十八次会议结束后收到公司职工代表董事林悦聪先生关于辞去职 工代表董事职务的书面辞任报告，因公司内部工作调整，林悦聪先生申请辞去公司第五届董事会职工代 表董事职务。辞去上述职务后，林悦聪先生仍继续在公司担任副总裁职务。经全体与会职工代表审议， 会议选举刘运灵先生为公司第五届董事会职工代表董事，与公司现任第五届董事会非职工代表董事共同 组成公司第五届董事会。公司第五届董事会兼任公司高级管理人员以及由职工代表担任的董事人数未超 过公司董事总数的二分之一，符合相关法律法规的要求。 2024年1至12月份，青松股份的营业收入构成为：化妆品占比100.0%。 截至发稿，青松股份市值为41亿元。 每经头条（nbdtoutiao）——地产"优等生"受困20亿元到期债务，首次债务展期仍在博弈，明年还有超 百亿元公开债到期 （记者 王晓波） ...

新浪科技讯 12月23日晚间消息，近日，阿里巴巴旗下源头厂货平台1688举办商业领袖年度峰会，揭晓 平台2025年商业领袖奖获奖名单，覆盖消费品、工业品等多个行业领域。 会上，1688商家发展中心相关人士表示："在AI时代，生意能否成功，不再依赖低价竞争，而在于确定 性——订单稳、交货稳、运营稳。增长不是'卷'出来的，而是'稳'出来的。企业越可靠，客户越敢下 单，平台也越愿意为其匹配更多商机。"另有专家在演讲中指出，中国经济正处于K型分化阶段，只有 主动拥抱数字化、具备经营韧性的企业，才能穿越周期波动。 据悉，目前已有越来越多商家在1688上从规模化流量争夺转向精细化供应链价值深耕。与此同时，1688 也正与核心商家共同构建确定性履约能力与AI化经营体系，推动平台、商家、买家三方共赢，在K型分 化的行业格局中抢占领先地位。 尽管本届获奖企业来自不同行业、各具特色，但均呈现出显著共性：中国制造业的竞争焦点，正从外部 资源比拼转向内部能力锻造。 面对质量稳定性不足、产业结构失衡等多重挑战，制造业正通过构建全链条创新生态、推进智能制造技 术革新、优化要素资源配置等路径寻求突破。在人工智能、大数据、物联网等新技术赋能 ...

截至发稿，青松股份市值为41亿元。 每经头条（nbdtoutiao）——地产"优等生"受困20亿元到期债务，首次债务展期仍在博弈，明年还有超 百亿元公开债到期 每经AI快讯，青松股份（SZ 300132，收盘价：7.94元）12月23日晚间发布公告称，公司第五届第十八 次董事会会议于2025年12月23日在青松股份中山分公司会议室以现场结合通讯的方式召开。会议审议了 《关于制定 <董事 高级管理人员离职管理制度="高级管理人员离职管理制度"> 的议案》等文件。 2024年1至12月份，青松股份的营业收入构成为：化妆品占比100.0%。 （记者 曾健辉） ...