证券代码：603579 证券简称：荣泰健康 公告编号：2026-001 上海荣泰健康科技股份有限公司关于购买参股公司部分股权暨关联交易的公告 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、准确性和完整性承担法律责任。 重要内容提示： ● 上海荣泰健康科技股份有限公司（以下简称"公司"）拟与上海有摩有样健康科技有限公司（以下简 称"标的公司"或"有摩有样"）的股东厦门市蒙泰健康科技有限公司、宁波富爵电子科技有限公司、曾必 焱、王坤、王健（以下简称"交易对方"）签署股权转让协议，公司拟以自有资金4,200万元收购交易对 方持有标的公司21%的股权（以下简称"本次交易"）。同时，公司与标的公司交易对方曾必焱签订一致 行动人协议，通过一致行动协议及相关治理安排，在本次交易完成后公司合计控制标的公司56.50%表 决权，取得标的公司的控制权。本次交易完成后，标的公司将纳入公司合并报表范围，成为公司控股子 公司。 ● 鉴于公司与标的公司交易对方曾必焱签订一致行动人协议，基于审慎严谨的判断，本次交易构成关联 交易。 ● 本次交易不构成《上市公司重大资产重组管理办法》规 ...

近日，满载着565吨"湾区制造"货物的中欧班列（深圳）从深圳平湖南国家物流枢纽鸣笛启程，一路向 北奔赴莫斯科沃尔西诺站。这趟班列搭载的女士羊皮鞋、插卡式输入卡、按摩器等日用消费品及电子产 品，均为俄罗斯的市场需求旺盛的产品。 为满足市场需求，中欧班列（深圳）充分发挥运能优势及通道优势，不断丰富"班列+"业务链条，创新 开展"跨境电商+中欧班列"试点、开通大湾区中欧班列跨里海通道、打造全国首条经二连浩特口岸直达 莫斯科的精品班列等，有效拓宽了深欧贸易的物流版图，为大湾区商品加速"出海"提供更高效、多元的 物流新通道。 深圳商报·读创客户端记者 罗凯燕 通讯员 刘鸿 张欣欣 作为共建"一带一路"的重要物流载体，中欧班列（深圳）近年呈现出蓬勃的发展态势。2026年1月5日， 记者从深圳海关获悉，中欧班列（深圳）2025年全年发运出口班列202列，同比增长49.6%；发运货值 68.7亿元，同比增长40%，发运班列数和货值均实现大幅增长。 海关关员对中欧班列集装箱货物开展查验监管（通讯员 李砚伟 摄） 开行5年来，中欧班列（深圳）运输规模、线路、时效保障等通道能力持续增强，目前已开通27条常态 化运行线路，辐射47个 ...

2026年1月1日，中欧班列(武汉)开往丹麦首都哥本哈根，这是湖北港口汉欧国际在新年开通的首条新线 路，全程运行时效预计22天。 2025年中欧班列(武汉)取得佳绩 2025年，中欧班列(武汉)交出一份精彩答卷。 来自湖北港口集团汉欧国际近日的统计显示，2025年中欧班列(武汉)全年发运1010列、计83830标准 箱，货值188.09亿元，连续三年稳健破千列。 2026年1月1日，一列满载新风换气机等货物的中欧班列(武汉)，从中铁联集武汉中心站鸣笛启程，前往 丹麦首都哥本哈根。这是湖北港口汉欧国际在新年开通的首条班列，将途经阿拉山口口岸出境，抵达德 国汉堡，部分货物将依托成熟的"铁水联运"模式转运分拨，最终抵达丹麦哥本哈根，全程运行时效预计 22天。 此前，中欧班列(武汉)已成功打通芬兰赫尔辛基，挪威奥斯陆、莫斯，瑞典哥德堡等多条线路，织密了 联动北欧多城的物流网络；如今直达哥本哈根，不仅标志着通道网络向北欧五国实现深度延伸，更进一 步完善了湖北与北欧的跨境物流体系，为双边贸易搭建起更便捷的桥梁。 湖北是中国首个也是目前唯一一个搭建起与北欧国家经贸合作长效机制的省份，湖北也成为了国家层面 面向北欧地区经贸合 ...

Core Points - The company is changing the use of part of the funds raised from convertible bonds and delaying the investment project related to the original massage chair manufacturing base in Huzhou, Zhejiang [2][4][6] Fundraising and Project Changes - The original project name was "Zhejiang Huzhou Nanxun Rongtai Massage Chair Manufacturing Base Project," which is now changed to three new projects: "Intelligent Massage Equipment and Key Components Manufacturing," "Automotive Seat Comfort System R&D and Manufacturing," and "Massage Control System and Data Service Platform," with a total investment of 380 million yuan [2][4][10] - The amount of funds redirected from the original project is 315.88 million yuan [2][4] - The new projects are expected to be operational and generate revenue within 24 months [2][4] Project Delay and Adjustments - The original project investment amount has been reduced to 351.72 million yuan, and the implementation deadline has been extended to December 2026 [4][6] - The original project's annual production capacity has been decreased from 300,000 units to 150,000 units due to the investment scale reduction [5][8] Reasons for Changes - The changes are attributed to delays in land application and approval processes, as well as shifts in market conditions and company strategy [6][8] - The company aims to optimize resource allocation and adapt to the evolving market environment, focusing on intelligent massage equipment and automotive applications [8][9] New Project Details - The intelligent massage equipment project will add an annual production capacity of 30,000 units and will focus on key components manufacturing [11][12] - The automotive seat comfort system project aims to produce 350,000 sets of massage systems annually, capitalizing on the growing demand for comfort features in vehicles [14][17] - The massage control system project will enhance product interactivity and user experience through data-driven solutions [18][21] Market Outlook - The intelligent massage equipment market is expected to grow significantly, with projections indicating a market size exceeding 5.6 billion yuan by 2029 [23] - The automotive seat massage function is gaining traction, with increasing penetration rates in mid-range vehicles, indicating a robust market opportunity [23] - The data service platform is positioned to support health management services, expanding the company's revenue potential [23]

Group 1 - The company Rongtai Health (603579.SH) plans to acquire 21% equity in Youmo Youyang Health Technology Co., Ltd. for 42 million yuan, with the target company's estimated valuation at 200 million yuan [1] - The final transaction price will be determined based on an asset evaluation report, with a reference date of September 30, 2025 [1] - After the transaction, the company expects to control 56.5% of the voting rights of the target company, which will be consolidated into its financial statements as a subsidiary [1] Group 2 - Youmo Youyang was established on January 19, 2022, focusing on the research, production, sales, and service of massage chairs, massage devices, and other health-related products [2] - The founding team has over ten years of experience in the massage device industry and has received investment from a Xiaomi subsidiary, becoming part of the Xiaomi ecological chain [2] - Youmo Youyang is responsible for the exclusive research, design, and supply of massage products under the "Mijia" brand after project proposals are approved by Xiaomi [2]

Group 1 - The company Rongtai Health (603579.SH) plans to acquire 21% equity of Youmo Youyang Health Technology Co., Ltd. for 42 million RMB, with the target company's estimated valuation at 200 million RMB [1] - The final transaction price will be determined based on an asset evaluation report, with a reference date of September 30, 2025 [1] - After the acquisition, the company aims to control 56.5% of the voting rights of the target company, which will be consolidated into the company's financial statements as a subsidiary [1] Group 2 - Youmo Youyang was established on January 19, 2022, focusing on the research, production, sales, and service of massage chairs, massage devices, and other health-related products [2] - The founding team has over ten years of experience in the massage device industry and has received investment from a Xiaomi subsidiary, becoming part of the Xiaomi ecological chain [2] - Youmo Youyang is responsible for the exclusive research, design, and supply of massage products under the "Mijia" brand after project proposals are approved by Xiaomi [2]

Core Insights - The total retail sales of consumer goods in Tibet reached 89.317 billion RMB from January to October this year, with a growth rate of 4.3% [1] - In October alone, the retail sales amounted to 12.47 billion RMB, showing a year-on-year increase of 3.4%, which is 0.5 percentage points higher than the national average [1] Group 1: Policy Measures - The Tibet Autonomous Region's Commerce Department, in collaboration with relevant departments, has introduced five support policies aimed at boosting consumption, including measures for e-commerce and night economy [1] - A comprehensive policy system has been established with 43 detailed measures to guide local governments in implementing various consumption promotion policies [1] Group 2: Consumption Promotion Activities - The government has optimized the "old for new" policy for consumer goods, expanding the categories eligible for subsidies to 22, including items like fans and electric hot pots [1] - A combination of online and offline strategies has been employed to promote the "old for new" policy across enterprises, communities, and rural areas, resulting in 4.3 billion RMB in subsidies and 580,000 transactions, driving a consumption increase of 2.61 billion RMB [1] Group 3: Event Initiatives - The Commerce Department has organized a series of promotional activities under the theme "Happy Tibet, Enjoy Life," including food competitions and product exhibitions, achieving a multiplier effect with over 61 billion RMB in direct consumption stimulation [2] - More than 230 million people have benefited from government subsidies through these activities, enhancing the sense of gain among various ethnic groups [2]

Macro and Strategy - The macroeconomic environment shows a recovery in upstream sectors, while midstream sectors exhibit a mixed recovery, with the coal industry maintaining stability and the petrochemical sector continuing to face challenges [9] - The manufacturing sector, particularly in the new energy chain, is showing improvement, with demand for machinery and automotive sectors gradually recovering [9] - Consumer sectors are experiencing a divergence, with home appliances and food and beverage sectors showing positive trends, while the pharmaceutical sector faces increasing price pressures [9] Industry and Company Analysis Textile and Apparel Industry - Adidas reported a 12% increase in revenue for Q3 2025, with management raising the full-year guidance due to strong brand momentum and better-than-expected performance [10][11] - The company achieved a net profit of €485 million in Q3, with all regions and channels showing double-digit growth, except for North America, which was impacted by a decline in accessory sales [10][11] - The management has adjusted the full-year revenue growth expectation to approximately 9%, with an operating profit target raised to about €2 billion [10][11] Agricultural Chemicals Industry - The potassium fertilizer market is experiencing a tight supply-demand balance, with domestic production expected to decrease by 2.7% in 2024, while imports are projected to increase by 9.1% [12][13] - The average price of potassium chloride in October was reported at ¥3228 per ton, reflecting a year-on-year increase of 28.3% [12] - The demand for lithium iron phosphate is rising, with production capacity reaching 5.92 million tons per year, and prices increasing by 7% in October [13] Livestock and Agriculture - The investment strategy for November 2025 recommends focusing on Hong Kong-listed dairy farming stocks, with expectations for beef prices to accelerate [17] - The report highlights a potential turning point in the domestic beef cycle, with optimism for both domestic and international markets [17] - The prices of live pigs and poultry are showing upward trends, with live pig prices increasing by 6% month-on-month [18] Medical Devices - Mindray Medical's international business is growing steadily, with Q3 revenue expected to accelerate compared to Q2 [26] - The company reported a revenue of ¥258.34 billion for the first three quarters of 2025, with a net profit of ¥75.70 billion, despite facing price pressures in the domestic market [26][27] - The company is focusing on enhancing its global supply chain and local production capabilities, with international revenue accounting for over 50% of total revenue [26] Pharmaceutical Industry - The report on Baicheng Pharmaceutical indicates a significant decline in revenue and net profit for the first three quarters of 2025, attributed to intensified competition in the generic drug market [28][29] - The company is transitioning towards innovative drug development, with over 15 projects in the pipeline, focusing on neurology, autoimmune diseases, and oncology [29] - The production capacity utilization is expected to improve as the company secures contracts for multiple drug varieties [29] Orthopedic Devices - Weigao Orthopedics reported a 10% increase in revenue for Q3 2025, driven by sales model integration and refined management practices [31] - The company is focusing on optimizing its sales structure and enhancing clinical service levels, which has led to increased revenue and volume across multiple product lines [31][32] - The net profit margin has improved significantly, reflecting effective cost control and operational efficiency [32]

Core Viewpoint - The capital market is undergoing a quiet transformation from cash dividends to tangible rewards for shareholders, with over 30 A-share companies participating in physical rewards, marking a 45% increase compared to the previous year [1]. Group 1: Physical Rewards "Trio" - Brand value is being tangibly integrated, with companies like Wufangzhai using QR codes on products to enhance brand engagement, resulting in a 230% average increase in social media exposure for participating companies [5]. - Companies are transforming shareholders into "product experience officers," with Tianyu Bio collecting over 2,000 feedbacks to optimize products, leading to a 40% increase in pre-sale volumes for improved designs [6]. - Strategic designs like Sichuan Changhong's "discount coupons" create a consumption-points-rights loop, increasing customer lifetime value by 65% and tripling repurchase rates compared to conventional channels [7]. Group 2: Innovation Behind "Offensive and Defensive Strategies" - Industry-specific strategies are being employed, such as Wufangzhai combining its products with cultural elements and Stone Technology providing cleaning solutions with their products [8]. - Leading companies are reducing reward costs through supply chain collaboration, with companies like Beiliang reducing marginal costs by 42% for exclusive products [9]. - Compliance risks are highlighted, with examples of companies facing scrutiny for non-compliant rewards, emphasizing the need for adherence to investor relations management guidelines [9]. Group 3: Future Competition - Digital empowerment is enhancing experiences, as seen with Bona Film's NFT movie tickets allowing shareholders to redeem physical tickets and merchandise [11]. - The C2M revolution is emerging, with companies like Dong'e Ejiao customizing products based on shareholder health data, achieving a 38% customer conversion rate [16]. - ESG values are being integrated into shareholder rewards, with companies like CATL embedding carbon credits into gifts, representing a shift in shareholder value perception [19]. Group 4: Critical Reflections - The physical reward trend faces challenges, including value disputes over inflated product prices and fairness concerns for minority shareholders [21]. - A suggested three-dimensional evaluation system includes ensuring the physical value does not exceed 5% of annual net profit, providing dual channels for participation, and maintaining transparency in reporting [21]. - The shift from financial rewards to future-oriented value creation is redefining the rules of engagement in the capital market, emphasizing the importance of product, operational, and innovative capabilities [21].

Core Insights - The company highlights the accelerated aging process in China, indicating a strong awareness of health among the elderly population, which drives the demand for massage devices [1] - The market for massage devices is expected to grow significantly due to the increasing number of elderly individuals [1] Company Performance - In the first half of 2025, the company reported revenue of 385 million yuan, representing a year-on-year decline of 36.22% [1] - The company's net profit turned into a loss, with a net loss of 36.11 million yuan, a year-on-year decrease of 238.19% [1]