来源：环球网 9月16日，"走读中国"国际媒体交流项目记者团走进陕西巨子生物技术有限公司，来自俄罗斯、吉尔吉 斯斯坦、阿塞拜疆等11个欧亚大陆国家的12位记者实地参观了这家以"酵母制造低免疫重组胶原蛋白"为 核心技术的企业。 据巨子生物市场资源总监范文强介绍，巨子生物深耕生物技术领域25年，已自主研发和量产多类型重组 胶原蛋白及稀有人参皂苷等活性成分，累计获得186项专利及专利申请。据了解，巨子生物与西北大学 合作完成的"酵母制造低免疫重组胶原蛋白及其应用"，荣获"2024年度中国石油和化学工业联合会技术 发明奖一等奖"，并被专家组鉴定为"整体达到国际领先水平"。 走进巨子生物的生产车间，正在运作的发酵、乳化、灌装设备激发起了记者们的浓厚兴趣，令各国记者 赞叹不已，纷纷从原料、工艺、产品等角度询问了解。卡拉曼由衷感慨："当我看到原料经过那些运输 管道和整套工艺流程最终转化成我们手中的面霜时，我认为这不仅是科学和美，更是健康以真真切切的 方式来到我们身边。" 在巨子生物的产品展示厅，外国记者们兴致勃勃地体验了次抛精华、面膜等多款热门护肤产品，格鲁吉 亚记者米哈伊尔·塔拉赫切夫更是表达了深入访问报道甚至建立合作的 ...

近日，国家网信办通报"清朗·优化营商网络环境—整治涉企网络'黑嘴'"专项行动第二批典型案例，其中 包含百万美妆博主"大嘴博士"账号。 2025年5月24日，"大嘴博士"公开发布视频质疑巨子生物涉嫌夸大宣传及配方表造假问题。其表示，检 测发现巨子生物旗下可复美产品中重组胶原蛋白含量实际检测仅为0.0177%。 可复美于5月24日晚间发文回应称，事发第一时间，其已参考相关标准中重组胶原蛋白含量的检测方法 对相关产品进行检测，多批次检测结果胶原蛋白含量均大于0.1%，与网传的"0.0177%添加量"严重不 符。同时，已委托多家权威第三方检测机构对该相关产品采用多种检测方法进一步进行检测，等拿到最 新检测报告后会第一时间公布。 6月1日，巨子生物声明称，有关"可复美"未添加重组胶原蛋白的争议，5月30日收到来自"大嘴博 士"（郝宇）所委托检测机构的"道歉声明"，称该机构明确表示"我司对此做法不仅不予认同，更从未做 出任何形式的授权"，并严令要求郝宇"立即停止使用及转发该《测试报告》的行为，以避免对社会公众 产生更严重的误导 "。 6月4日，巨子生物再次发文称，此前委托多家权威检测机构对争议产品的检测结果出炉，可复美相 ...

9月11日，《每日经济新闻》报道，据不完全统计，2025年以来，四川省、河南省、江西省、陕西省等 多地发生了"首富"更替。 据媒体6月初报道，泡泡玛特（09992.HK）创始人王宁的财富值已超越牧原股份（002714.SZ）创始人 秦英林、钱瑛夫妇，成为河南省"首富"。 9月11日福布斯实时富豪榜数据显示，泡泡玛特创始人王宁及其家族全球排名第96名，财富价值230亿美 元。而牧原股份创始人秦英林排名第107名，财富价值214亿美元。 此前，今年3月发布的《2025胡润全球富豪榜》上，牧原股份创始人秦英林、钱瑛夫妇以1300亿元的财 富值蝉联河南首富。 8月19日，泡泡玛特发布2025年半年报，今年上半年泡泡玛特实现营收138.8亿元，同比增长204.4%；经 调整净利润为47.1亿元，同比增长362.8%。 在业绩会上，泡泡玛特创始人王宁表示，今年300亿营收很轻松。受业绩提振，当日泡泡玛特港股盘中 午后持续走高涨超13%，股价创历史新高，市值首次突破4000亿港元大关。据泡泡玛特2024年年报，创 始人王宁持有公司股权占比为48.73%。 寒武纪（688256.SH）的创始人陈天石在2025年也成为江西省新 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Insights - The company reported a revenue of 3.11 billion HKD for H1 2025, representing a year-on-year growth of 22.5%. The net profit attributable to shareholders was 1.18 billion HKD, up 20.2% year-on-year, while the adjusted net profit reached 1.21 billion HKD, reflecting a 17.4% increase [2][4]. Summary by Sections Revenue Performance - In H1 2025, the revenue breakdown by product categories showed medical dressings, functional skincare, and health food generating revenues of 690 million HKD, 2.41 billion HKD, and 10 million HKD respectively, with year-on-year growth rates of 17%, 24%, and 16% [6]. - By brand, the revenues for 可复美, 可丽金, and other brands were 2.54 billion HKD, 500 million HKD, and 60 million HKD respectively, with growth rates of 23%, 27%, and -10% [6]. - Channel-wise, revenues from DTC, e-commerce direct sales, offline direct sales, and distribution were 1.82 billion HKD, 390 million HKD, 120 million HKD, and 790 million HKD respectively, with year-on-year growth rates of 13%, 134%, 74%, and 12% [6]. Profitability - The net profit margin slightly decreased by 0.7 percentage points in H1 2025, attributed to a 0.7 percentage point decline in gross margin and changes in sales, management, and R&D expense ratios [6]. - The overall expense ratio narrowed by 1.6 percentage points, while the income tax expense increased by approximately 87.06 million HKD year-on-year [6]. Investment Outlook - The company is expected to maintain healthy growth throughout the year, with projected adjusted net profits of 2.55 billion HKD, 3.00 billion HKD, and 3.65 billion HKD for 2025, 2026, and 2027 respectively, corresponding to PE valuations of 23, 19, and 16 times [6].

本文字数：1996，阅读时长大约4分钟 作者 | 第一财经 刘晓颖 9月11日，国家网信办通报"清朗·优化营商网络环境—整治涉企网络'黑嘴'"专项行动第二批典型案 例，依法处置多个涉企违规账号，涉及胁迫企业合作、歪曲企业信息、恶意诋毁等行为。 第二批公布的名单中，"大嘴博士"账号已被依法依约采取禁言措施。该号被认定发布炒作测评信 息，影响市场竞争秩序。抖音、小红书、微博、哔哩哔哩等平台账号"大嘴博士"运营主体与某美妆 产品企业存在商业利益关系。上述账号多次针对同领域竞争对手产品发布炒作没有法律效力的测评信 息，误导消费者，干扰正常市场秩序。 美妆博主炮轰头部公司 2025.09. 11 今年5月，一个名为 "大嘴博士颜究所"微信公众号发布关于巨子生物旗下明星产品可复美的检测报 告，直指"巨子生物疑似造假，重组胶原竟然测不到胶原"。这也将这家胶原蛋白明星公司推向风口 浪尖。 5月24日，微信公众号"大嘴博士颜究所"发表郝宇署名文章《巨子生物疑似造假？!重组胶原竟然测 不到胶原！》引发市场热议。 针对"大嘴博士"的质疑，以及舆论对相关产品的关注，巨子生物曾发布多条官方声明，称其不实指 控，检测结果不准确。 5月2 ...

Group 1 - The National Cyberspace Administration of China announced the second batch of typical cases in the "Clear and Optimized Business Network Environment" campaign, addressing multiple accounts involved in coercing companies, distorting information, and malicious defamation [1] - The account "Big Mouth Doctor" was identified as having a commercial interest relationship with a beauty product company and was found to have published misleading evaluation information affecting market competition [1] - The incident involving "Big Mouth Doctor" and the accusations against Juzhi Biotechnology's product led to significant market discussions and scrutiny [2][3] Group 2 - Juzhi Biotechnology's product "Kefumei" faced allegations of false advertising, which the company refuted by stating that all products passed regulatory checks and were verified through a three-step quality control process [2][3] - Following the controversy, Juzhi Biotechnology's stock price experienced a decline of 10% over two days, indicating the impact of the trust crisis on the company's market performance [3] - The company's revenue increased significantly from 2.375 billion yuan in 2021 to 5.539 billion yuan in 2024, with net profit rising from 1 billion yuan to 2.062 billion yuan during the same period [4] Group 3 - Juzhi Biotechnology's major product, "Kefumei," accounted for 79% and 82% of total revenue in 2023 and 2024, respectively, highlighting its importance to the company's financial health [4] - The company reported a revenue of 3.113 billion yuan for the first half of 2025, a year-on-year increase of 22.5%, with net profit rising by 20.2% to 1.182 billion yuan [5] - In contrast, Huaxi Biotechnology, which previously supported "Big Mouth Doctor," reported its worst interim results since listing, with a revenue decline of 19.57% [5] Group 4 - The collagen protein market in China is projected to grow at a compound annual growth rate of 44.93%, reaching a market size of 219.38 billion yuan by 2030, indicating strong future growth potential [6] - The market for repair-focused cosmetics is expected to reach approximately 180 billion yuan in 2024, positioning it among the top three efficacy segments in the industry [6]

Group 1 - The article highlights the recent changes in the wealth rankings of various provinces in China, particularly noting the emergence of new billionaires in sectors like consumer goods and technology since 2025 [1][4] - Wang Ning, the founder of Pop Mart, has surpassed the wealth of Qin Yinglin and Qian Ying, becoming the richest person in Henan Province with a net worth of $23 billion, ranking 96th globally [4][6] - Pop Mart reported a revenue of 13.88 billion yuan in the first half of 2025, marking a year-on-year increase of 204.4%, and an adjusted net profit of 4.71 billion yuan, up 362.8% [4][5] Group 2 - Chen Tian Shi, founder of Cambricon, has become the new richest person in Jiangxi Province, with a net worth of $21.5 billion, ranking 106th globally [4][7] - The stock price of Cambricon surged due to the boom in China's chip industry, reaching a market capitalization of 663.7 billion yuan [5][6] - Zhu Yi, the actual controller of Baili Tianheng, has seen his wealth increase significantly, with his shares valued at over 115 billion yuan, making him the richest in Sichuan Province [6][7] Group 3 - In Shaanxi Province, the couple Fan Daidi and Yan Jianya of Juzhi Biotechnology have become the new richest, with a wealth of $5.1 billion, surpassing the previous richest, Li Zhenguo and Li Xiyan [7]

据红星新闻报道，今年5月底，"大嘴博士"公开发布视频质疑巨子生物（02367.HK）造假。其表示，检 测发现巨子生物旗下可复美产品中重组胶原蛋白含量实际检测仅为0.0177%。 上述视频发布后，有网友质疑"大嘴博士"的动机，认为他和华熙生物关系密切，曾为华熙生物 （688363.SH）旗下品牌带货。"大嘴博士"当时回应称，这是没有依据的揣测，甚至引向商战的方向。 可复美于5月24日晚间声明称，这是不实指控，检测结果不准确，表示已经委托多家权威第三方检测机 构对该相关产品采用多种检测方法进一步进行检测。 6月13日，"大嘴博士"微博账号已经被禁言，以"可复美"与"巨子生物"为关键词搜索均收不到相关内 容。同时，"大嘴博士"抖音账号中与巨子生物相关的视频也全部下架，"大嘴博士"则在其抖音账号简介 中称，"视频被恶意举报下架，并非主动删除"。 "国际投行研究报告"等账号歪曲解读涉企公开信息，诋毁企业形象声誉。微信公众号"国际投行研究报 告""IPO超级情报局"、百度百家号"博望财经"等，为博取流量，长期恶意集纳炒作上市公司、拟上市公 司负面信息，发布"业绩真实性存疑""营业收入骤然下滑"等虚假不实信息，歪曲解读企业 ...

Group 1 - Sichuan-listed company Baili Tianheng (688506.SH) reached a historical high of 414.02 CNY per share, leading to a significant increase in the wealth of its actual controller, Zhu Yi, who became the new richest person in Sichuan [1][4] - The emergence of new billionaires in various provinces, including Sichuan, Henan, Jiangxi, and Shaanxi, reflects a shift in economic dynamics and the rise of new industries such as artificial intelligence, trendy toys, and biomedicine [3][4][10] - Baili Tianheng's stock price has seen a cumulative increase of 78.90% this year, contributing to its recognition as the new "king of Sichuan stocks" [6][10] Group 2 - The new billionaires, including Wang Ning of Pop Mart (09992.HK) and Chen Tian Shi of Cambrian (688256.SH), have seen their wealth increase significantly, with Wang's family wealth reaching 23.8 billion USD (approximately 169.48 billion CNY) [3][4] - The companies associated with these new billionaires have experienced substantial revenue growth, with Baili Tianheng's revenue increasing over ninefold in 2024, Cambrian's revenue growing over 60%, and Pop Mart's revenue rising over 106% [13][14] - The rise of these new billionaires is indicative of a broader trend where wealth is shifting towards industries that align with new productive forces, emphasizing technological breakthroughs and innovative business models [10][14][16]

Group 1 - Baili Tianheng's stock price reached a historical high of 414.02 CNY per share, leading to a significant increase in the wealth of its actual controller, Zhu Yi, who became the new richest person in Sichuan Province with a net worth of 15.3 billion USD (approximately 108.95 billion CNY) [1][4][5] - The emergence of new billionaires in various provinces, including Sichuan, Henan, Jiangxi, and Shaanxi, reflects a shift in wealth dynamics, with industries such as artificial intelligence, trendy toys, and biomedicine gaining prominence [3][4][11] - The rise of new billionaires is indicative of China's economic transition and the global resonance of industrial innovation, with companies demonstrating core technological advancements or innovative business models [3][12] Group 2 - The wealth of new billionaires is closely tied to the performance of their companies, with Baili Tianheng's stock showing a year-to-date increase of 78.90%, earning it the title of "new stock king" in Sichuan [5][13] - In Henan, Wang Ning, founder of Pop Mart, surpassed the previous richest person, Qin Yinglin, with a net worth of 23.8 billion USD, reflecting a significant increase in Pop Mart's stock price, which rose over 210% this year [7][9] - The new billionaires' companies have experienced substantial revenue growth, with Baili Tianheng's revenue increasing over ninefold in 2024, and other companies like Hanwujing and Pop Mart also reporting significant revenue increases [13][14] Group 3 - The new billionaires are primarily from high-growth sectors such as biomedicine, trendy toys, and AI chips, which are currently favored in the capital markets [11][15] - The shift in wealth towards these new industries signifies a deeper change in China's economic and industrial structure, moving from traditional sectors to emerging technologies [14][15] - The capital market has played a crucial role in discovering the value of high-growth industries, with structural bull markets in A-shares and Hong Kong stocks reflecting this trend [15]