8月25日，洁雅股份跌0.83%，成交额1.43亿元。两融数据显示，当日洁雅股份获融资买入额1215.99万 元，融资偿还1541.10万元，融资净买入-325.11万元。截至8月25日，洁雅股份融资融券余额合计 5208.69万元。 截至8月20日，洁雅股份股东户数8193.00，较上期减少5.27%；人均流通股7891股，较上期增加5.57%。 2025年1月-3月，洁雅股份实现营业收入1.24亿元，同比减少4.62%；归母净利润1006.27万元，同比减少 27.61%。 分红方面，洁雅股份A股上市后累计派现1.39亿元。近三年，累计派现7780.82万元。 责任编辑：小浪快报 融券方面，洁雅股份8月25日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量0.00股，融券余额0.00元，超过近一年90%分位水平，处于高位。 资料显示，铜陵洁雅生物科技股份有限公司位于安徽省铜陵市狮子山经济开发区铜井东路1928号，成立 日期1999年8月31日，上市日期2021年12月3日，公司主营业务涉及湿巾类产品研发、生产与销售。主营 业务收入构成为：湿巾类产品90.50%，面膜 ...

Core Viewpoint - The company, Jieya Co., Ltd., faces internal dissent regarding its 2025 restricted stock incentive plan, with significant opposition from non-independent director Yu Yancheng, who argues that the plan is overly conservative and misaligned with the interests of minority shareholders [1][4]. Group 1: Incentive Plan Details - The incentive plan proposes to grant a total of 1.82 million restricted shares, with an initial grant price of 12.63 yuan per share, significantly lower than the company's net asset value of 22.86 yuan per share [1][4]. - The plan includes 10 recipients, including 4 senior executives, who collectively will receive 700,000 shares valued at over 18.8 million yuan based on the closing price of 26.92 yuan per share on July 22 [1][2]. Group 2: Performance Assessment Criteria - The performance assessment for the restricted stock grants spans from 2025 to 2027, requiring revenue growth rates of at least 25%, 50%, and 100% for the respective years [3][6]. - The company previously launched an incentive plan in 2022, which set revenue growth targets of at least 10%, 30%, and 50% for the years 2023 to 2025, but failed to meet these targets, resulting in the cancellation of unvested shares [5][7]. Group 3: Historical Context and Stakeholder Concerns - Yu Yancheng, who has been with the company in various capacities since 2012, expressed concerns that the current plan's structure and timing do not align with shareholder interests, particularly for minority shareholders [3][4]. - The company has a history of overlapping performance targets between different incentive plans, leading to confusion and potential conflicts in revenue assessment for the same fiscal year [5][7].

Industry Growth - The Chinese flavor and fragrance industry reached a market size of approximately 43.9 billion yuan in 2023, with a year-on-year growth of 2.6%, and is expected to exceed 50 billion yuan by 2026[3] - The cosmetics market in China was about 516.9 billion yuan in 2023, growing by 6.4%, and is projected to reach 579.1 billion yuan by 2025[3] - The cosmetics OEM/ODM industry grew from 21.41 billion yuan in 2017 to 49.76 billion yuan in 2023, with a compound annual growth rate of 15.1%[3] Market Performance - The median price change for consumer service stocks on the Beijing Stock Exchange was -6.39% from June 16 to June 20, 2025, with only 4 companies (11%) experiencing an increase[3] - The total market capitalization of consumer service companies decreased from 121.32 billion yuan to 116.70 billion yuan during the same period[3] - The median price-to-earnings ratio (P/E) for consumer service companies fell from 53.9X to 50.5X[3] Company Insights - Zhongcao Fragrance, a midstream player in the flavor and fragrance industry, reported a revenue of 222 million yuan in 2024, with a year-on-year increase of 7.89%[27] - Bawwei Co., a downstream cosmetics manufacturer, achieved a revenue of 695 million yuan in 2024, reflecting a year-on-year growth of 48.27%[33] - Bawwei's revenue for Q1 2025 was 162 million yuan, up 40.15% year-on-year, with a net profit margin of 5.16%[33] Risk Factors - The report highlights risks including macroeconomic fluctuations, market competition, and statistical inaccuracies[62]