格隆汇2月12日丨百亚股份(003006.SZ)公布，目前公司暂未与胖东来开展相关合作。 ...

4个 下载 11 2026 年 02 月 12 日 证券分析师 券研究报 重点提示：1）家居：板块估值底部，地产政策有望催化估值向上，行业整合加速，关 注具备高股息安全边际的【顾家家居】【索菲亚】【欧派家居】【慕思股份】【喜临 门】; 2) 造纸:短期箱板瓦楞价格稳定,中期供求格局有望优化、提升行业盈利中 枢;玖龙纸业业绩超预期; 3)公牛集团: 地产及消费边际改善,传统主业有望稳健修 复;出海加速、智能照明、新能源等新业务打开成长空间;4)消费情绪反弹,重视布 局个护成长性标的，关注【百亚股份】【登康口腔】【倍加洁】【中顺洁柔】。 ● 1) 家居: 地产链情绪升温, 地产供需后续有望逐渐改善, 促进房地产市场止跌回稳, 扭转悲观预期，推动家居行业估值底部向上。二手房占比保持提升，领先修复提振家居 需求端 Beta, 消费信心提振、消费力向上, 存量换新需求支撑行业长期扩容。2025 年 以来行业整合加速，中腰部企业退出，盈峰等产业资本入局溢价入股家居头部，推动行 业集中化。看好家居企业估值修复【顾家家居】【索菲亚】【欧派家居】【慕思股份】【喜 临门】。 2）造纸：短期箱板瓦楞价格稳定,中期供求格局有望优化、 ...

行 业 及 产 业 轻工制造 证券分析师 庞盈盈 A0230522060003 pangyy@swsresearch.com 屠亦婷 A0230512080003 tuyt@swsresearch.com 黄莎 A0230522010002 huangsha@swsresearch.com 张海涛 A0230524080003 zhanght@swsresearch.com 魏雨辰 A0230525010001 weiyc@swsresearch.com 联系人 魏雨辰 A0230525010001 weiyc@swsresearch.com 行 业 研 究 / 行 业 点 评 2026 年 02 月 12 日 顺周期布局家居、造纸及消费；关 注海外包装公司业绩 看好 ——造纸轻工周报 2026/02/02-2026/02/06 本期投资提示： 请务必仔细阅读正文之后的各项信息披露与声明 本研究报告仅通过邮件提供给 中庚基金 使用。1 证 券 研 究 报 告 相关研究 - ⚫ 重点提示：1）家居：板块估值底部，地产政策有望催化估值向上，行业整合加速，关 注具备高股息安全边际的【顾家家居】【索菲亚】【欧派家居】 ...

百亚股份2月12日在互动平台表示，目前公司暂未与胖东来开展相关合作。 ...

Market Overview - The personal care products sector experienced a decline of 1.66% on January 30, with Zhongshun Jierou leading the drop [1] - The Shanghai Composite Index closed at 4117.95, down 0.96%, while the Shenzhen Component Index closed at 14205.89, down 0.66% [1] Stock Performance - The following stocks in the personal care sector showed notable performance: - Beijiajie (603059) increased by 10.00% to a closing price of 37.29, with a trading volume of 32,300 hands and a turnover of 118 million [1] - Reliable Co. (301009) rose by 1.21% to 13.38, with a trading volume of 32,700 hands and a turnover of 43.52 million [1] - Liangmian Needle (600249) saw a slight increase of 0.51% to 5.92, with a trading volume of 112,700 hands and a turnover of 66.34 million [1] - Zhongshun Jierou (002511) fell by 5.45% to 8.15, with a trading volume of 482,800 hands and a turnover of 400 million [2] Capital Flow - The personal care products sector experienced a net outflow of 105 million from institutional investors, while retail investors saw a net inflow of 42.76 million [2] - The following stocks had significant capital flow: - Beijiajie (603059) had a net inflow of 20.94 million from institutional investors, but a net outflow of 15.94 million from retail investors [3] - Zhongshun Jierou (002511) faced a net outflow of 21.64 million from institutional investors [3] - Reliable Co. (301009) had a minor net inflow of 0.57 million from institutional investors [3]

Group 1: Profit Forecasts - Dongcai Technology expects a net profit of approximately 300 million yuan for 2025, representing a year-on-year increase of about 65.73% [1] - Aerospace Electronics anticipates a net profit of 192 million to 247 million yuan for 2025, a decrease of 55% to 65% year-on-year [2] - Oulai New Materials forecasts a loss of 33 million to 48 million yuan for 2025, compared to a profit of 28.17 million yuan in the previous year [3] - Jiu Ding New Materials projects a net profit of 85 million to 98 million yuan for 2025, reflecting a year-on-year increase of 187.68% to 231.68% [5] - Chuan Yi Technology expects a net profit of 78 million to 103 million yuan for 2025, reversing a loss of 73.47 million yuan from the previous year [6] - Ju Yi Technology anticipates a net profit of 70 million to 105 million yuan for 2025, representing a year-on-year increase of 228.36% to 392.54% [7] - ST Xifa forecasts a net profit of 110 million to 160 million yuan for 2025, a year-on-year increase of 319.91% to 510.77% [19] - Light Media expects a net profit of approximately 1.5 billion to 1.9 billion yuan for 2025, reflecting a year-on-year increase of 413.67% to 550.65% [34] - Tianqi Lithium anticipates a profit of 369 million to 553 million yuan for 2025, compared to a loss of 7.905 billion yuan in the previous year [31] Group 2: Loss Forecasts - Star Ring Technology expects a loss of 220 million to 250 million yuan for 2025, with a projected revenue of 420 million to 450 million yuan, a year-on-year increase of 13.06% to 21.13% [9] - Filinger anticipates a loss of 65 million to 85 million yuan for 2025, compared to a loss of 37.31 million yuan in the previous year [10] - Jiahe Meikang forecasts a loss of 240 million to 280 million yuan for 2025, compared to a loss of 256 million yuan in the previous year [11] - Light Textile City expects a loss of 15 million to 22.5 million yuan for 2025 [23] - Ailon Technology anticipates a profit of 14.96 million to 22.44 million yuan for 2025, reversing a loss of 21.70 million yuan from the previous year [24] - ST Yun Chuang forecasts a loss of 139 million to 149 million yuan for 2025, with projected revenue of 53.5 million to 57.5 million yuan, a year-on-year increase of 6.15% to 14.09% [42] - Meike Home expects a loss of 1.2 billion to 1.8 billion yuan for 2025, compared to a loss of 864 million yuan in the previous year [36] Group 3: Shareholder Actions - Huafeng Chemical announced that shareholders plan to reduce their holdings by no more than 0.73% of the company's shares [8] - Naxinwei disclosed that shareholders plan to reduce their holdings by no more than 1.75% of the company's shares [12] - Shikong Technology announced that a shareholder plans to reduce their holdings by no more than 3% of the company's shares [13] - Yandong Micro disclosed that a shareholder plans to reduce their holdings by no more than 1% of the company's shares [37] - Daily Interaction announced that shareholders plan to reduce their holdings by no more than 0.135% of the company's shares [41]

百亚股份公告，持股5%以上股东重望耀晖投资有限公司拟自公告披露之日起15个交易日后的3个月内， 通过集中竞价或大宗交易减持不超393.8万股，占总股本0.92%；董事谢秋林拟同期减持不超35.8万股， 占总股本0.08%，两者合计减持不超429.6万股，占总股本1%。截至公告日，重望耀晖持股5357.22万 股，占12.47%；谢秋林持股143.31万股，占0.33%。 ...

关于持股 5%以上股东及公司董事减持股份预披露公告 公司持股 5%以上股东重望耀暉投資有限公司及董事谢秋林先生保证向本公司提供的 信息内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 持有重庆百亚卫生用品股份有限公司（以下简称"公司"）股份 5%以上的股东重望耀 暉投資有限公司（以下简称"重望耀暉"），计划自本公告披露之日起 15 个交易日后的 3 个月内通过集中竞价交易或大宗交易的方式合计减持公司股份数量不超过 3,938,000 股，即 不超过公司总股本的 0.92%。持有公司股份 1,433,100 股（占本公司总股本比例 0.33%）的 董事谢秋林先生，计划自本公告披露之日起 15 个交易日后的 3 个月内通过集中竞价交易或 大宗交易的方式合计减持公司股份数量不超过 358,000 股，即不超过公司总股本的 0.08%。 综上，重望耀暉和谢秋林先生本次合计减持公司股份数量不超过 4,296,000 股，即不超过公 司总股本的 1%（若在此期间有送股、资本公积金转增股本等股份变动事项，则对减持数量 进行相应调整）。 ...

Market Overview - The personal care products sector experienced a decline of 1.62% on January 28, with Yanjiang Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 4151.24, up 0.27%, while the Shenzhen Component Index closed at 14342.9, up 0.09% [1] Stock Performance - The following stocks in the personal care sector showed notable price changes: - Zhongshun Jiesang: Closed at 8.58, up 0.70% with a trading volume of 244,800 shares and a turnover of 209 million yuan [1] - Yanjiang Co., Ltd.: Closed at 16.40, down 6.23% with a trading volume of 426,300 shares and a turnover of 73 million yuan [2] - Beijia Clean: Closed at 34.18, down 3.77% with a trading volume of 31,400 shares and a turnover of 109 million yuan [2] Capital Flow - The personal care products sector saw a net outflow of 111 million yuan from institutional investors, while retail investors had a net inflow of 1.05 billion yuan [2] - The following stocks had significant capital flow: - Zhongshun Jiesang: Net inflow from institutional investors was 5.43 million yuan, with a retail net inflow of 15.08 million yuan [3] - Yanjiang Co., Ltd.: Experienced a net outflow of 1.25 million yuan from institutional investors [3] - Beijia Clean: Had a net outflow of 2.60 million yuan from institutional investors, but a net inflow of 12.19 million yuan from retail investors [3]

Market Overview - The personal care products sector experienced a decline of 1.53% on January 27, with Yanjiang Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] Stock Performance - Notable stock performances include: - Dengkang Oral Care (001328) closed at 40.93, up 1.99% with a trading volume of 15,900 shares and a turnover of 64.67 million yuan [1] - Beijia Clean (603059) closed at 35.52, up 0.45% with a trading volume of 22,500 shares and a turnover of 79.75 million yuan [1] - Yanjiang Co., Ltd. (300658) closed at 17.49, down 6.02% with a trading volume of 404,000 shares and a turnover of 702 million yuan [2] Capital Flow - The personal care products sector saw a net outflow of 73.09 million yuan from institutional investors, while retail investors had a net inflow of 85.19 million yuan [2] - The capital flow for individual stocks shows: - Zhongshun Jierou (002511) had a net inflow of 4.92 million yuan from retail investors, but a net outflow of 1.30 million yuan from institutional investors [3] - Other stocks like Yiyi Co., Ltd. (001206) and Jeya Co., Ltd. (301108) also experienced significant net outflows from institutional investors [3]