| 美瑞健康国际(02327) | 156.60 万 | 41.92 万 | 3840.00 万 | 9.380% | | --- | --- | --- | --- | --- | | KEEP(03650) | 10.00 万 | 39.47 万 | 175.08 万 | 0.340% | | 永升服务(01995) | 20.00 万 | 36.54 万 | 436.20 万 | 0.250% | | 友和集团(02347) | 51.60 万 | 36.12 万 | 1086.60 万 | 2.205% | | 诺亚控股(06686) | 12.78 万 | 28.82 万 | 169.06 万 | 0.511% | | 融创服务(01516) | 20.00 万 | 28.00 万 | 660.00 万 | 0.220% | | 永安国际(00289) | 1.80 万 | 24.82 万 | 79.90 万 | 0.276% | | 名创优品(09896) | 5.11 万 | 24.59 万 | 777.94 万 | 0.627% | | 玄武云(02392) | 16.15 万 | 22.79 ...

Investment Rating - The industry investment rating is "stronger than the market," indicating an expected performance that exceeds the market by more than 5% within the next six months [25]. Core Insights - The report highlights a divergence in the performance of various segments within the consumer sector, with a stable overall market performance but most sub-sectors underperforming compared to the broader market [4][6]. - There is an expectation for consumer demand to improve ahead of the Lunar New Year, driven by sufficient market liquidity [4]. - The tourism sector is showing potential for growth, with leading companies responding effectively to changing consumer demands [4]. - The beauty industry is experiencing steady growth, with a focus on companies that adapt quickly to market dynamics [4]. - The food and beverage sector is seeing a recovery in supply-demand relationships, particularly in dairy products, while the restaurant supply chain is stabilizing [4]. - In the liquor segment, leading companies are expected to maintain market share despite recent profit adjustments [4]. Market Performance Review - The Shanghai Composite Index fell by 0.57% during the week of January 12-16, with the media sector rising by 3.34% while other sectors like food and beverage and agriculture saw declines of 2.03% and 3.49% respectively [6][8]. Social Services - The report emphasizes the importance of companies that actively respond to changes in consumer demand, particularly in tourism and beauty sectors [4]. Industry Dynamics - The People's Bank of China has introduced measures to enhance structural monetary policy support, which may positively impact consumer spending and economic recovery [10]. - The Philippines has announced visa-free entry for Chinese citizens, which could boost tourism [11]. Company Announcements - Companies like Giant Biological and Proya are making strategic moves, such as product approvals and share buybacks, indicating proactive management in response to market conditions [13][19]. - The report notes significant developments in the liquor industry, including the launch of premium products and partnerships for promotional events [20].

机构：中金公司 研究员：徐卓楠/黄蔓琪 公司动态 公司近况 巨子生物1 月15 日公告，公司旗下"重组I型α1 亚型胶原蛋白及透明质酸钠复合溶液"三类医疗器械获 批。该产品是全球首个用于改善面颊部平滑度的重组胶原蛋白和透明质酸钠复合溶液植入剂产品，通过 器审与药审联合审评正式获批。我们看好该产品的获批进一步拓展医美产品矩阵，印证公司领先技术研 发实力。 评论 1、全球首款用于改善面颊部平滑度的重组胶原蛋白及透明质酸钠复合溶液获批，第二张医美牌照落 地。据公司公告，公司旗下"重组I型α1 亚型胶原蛋白及透明质酸钠复合溶液"三类医疗器械获批，适应 症为"用于真皮层的注射，以改善面颊部平滑度"。 公司预计将稳步推进该产品的上市推广与市场投放工作，通过多元的产品组合、全面的渠道网络、精细 的品牌运营，提供差异化的解决方案，不断强化在健康与美丽领域的领先市场地位。 2、后续医美管线储备丰富，多产品成长空间广阔。公司后续管线储备仍丰富：交联颈纹产品已获得国 家优先审评资格；交联鼻唇沟产品亦顺利推进中。我们认为前两款医美产品获批已充分验证公司技术领 先性及安全性，且渠道资源及运营经验可复用性强，后续管线落地有望进一步拓宽医 ...

证券时报•数据宝统计，巨子生物在港交所公告显示，1月16日以每股35.580港元至36.320港元的价格回 购40.00万股，回购金额达1440.81万港元。该股当日收盘价35.820港元，下跌0.61%，全天成交额4.04亿 港元。 自1月5日以来公司已连续10日进行回购，合计回购400.00万股，累计回购金额1.40亿港元。 其间该股累 计上涨4.68%。（数据宝） 日期 回购股数 （万港元） 2026.01.16 40.00 36.320 35.580 1440.81 2026.01.15 40.00 36.100 35.440 1434.67 2026.01.14 40.00 35.800 35.100 1415.00 2026.01.13 40.00 36.200 35.640 1433.78 2026.01.12 40.00 35.500 34.500 1400.29 2026.01.09 40.00 34.580 34.240 1375.96 2026.01.08 40.00 34.440 34.120 1371.06 2026.01.07 40.00 34.680 34.300 1378.34 ...

巨子生物(02367)公布，2026年1月16日耗资约1440.81万港元回购40万股股份。 ...

智通财经APP讯，巨子生物(02367)公布，2026年1月16日耗资约1440.81万港元回购40万股股份。 ...

格隆汇1月16日丨巨子生物(02367.HK)发布公告，2026年1月16日耗资1440.8万港元回购40万股，回购价 格每股35.58-36.32港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 巨子生物控股有限公司 呈交日期： 2026年1月16日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02367 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件 ...

Core Insights - The article highlights the evolving consumer demand for skincare products, emphasizing the importance of long-term skin safety and the role of advanced technology in meeting these needs. The company, Giant Bio, is positioned as a leader in the recombinant collagen field, redefining the value of biotech firms in the eyes of consumers [1] Group 1: Clinical Evidence and Trust - Giant Bio establishes a foundation of trust through clinical data supporting its recombinant collagen technology. At the CDA2025 conference, research showed significant improvement in facial erythema for patients using products containing recombinant collagen, providing clear, visual results that shift consumer choice from marketing claims to scientifically backed evidence [3] - The transition from potential effectiveness to confirmed effectiveness represents the core value that Giant Bio creates for consumers [3] Group 2: Professional Application and Safety - In the specialized post-aesthetic care scenario, consumer demands are more stringent. Giant Bio extended its product efficacy validation to professional fields such as laser skin repair, exploring solutions through extensive research and clinical evidence. This indicates that choosing Giant Bio means opting for a clinically validated safety solution [4] - The application research on infant vascular tumors further underscores the brand's commitment to safety [4] Group 3: Emotional Connection and Brand Differentiation - Beyond addressing skin issues, Giant Bio integrates emotional needs into its product offerings through initiatives like "My 'Recombinant' Relationship," showcasing deep insights into consumer psychology [5] - The brand's "Health Living Toolbox" concept merges high-tech products with everyday care, breaking down the barriers between professional and daily use. This strategy enhances product convenience and allows technological innovation to gently enter consumers' lives [7] - The focus on emotional health transforms products from mere functional attributes into a part of users' self-identity, establishing a unique differentiation advantage in a competitive market [7] Group 4: Transparency and Consumer Assurance - In an era of increasing information transparency, the scientific research behind Giant Bio's recombinant collagen provides consumers with clear value references. The combination of scientific evidence, professional application, and innovative emotional engagement forms a strong bond between the brand and its users [9] - The practice of making advanced technology accessible not only translates into products but also ensures that consumers feel assured and confident in every usage scenario [9]

1月15日，巨子生物公布，其自主研发的重组Ⅰ型α1亚型胶原蛋白及透明质酸钠复合溶液（注册证编 号：国械注准20263130044）获得国家药监局批准上市。这是继其2025年10月21日"重组I型α1亚型胶原 蛋白冻干纤维"获批后，公司在短短两个多月内获得的第二张III类医疗器械注册证，标志着其在高端医 美再生材料领域的研发布局正加速进入成果转化期。 巨子生物本次获批的产品用于真皮层注射，主要适应症为"改善面颊部平滑度"。据了解，目前针对该适 应症获批的注射类产品，除巨子生物本次获批的产品外仅另有一款，属于典型的临床需求明确但供给稀 缺的"领创型适应症"。巨子生物此番精准切入这一细分领域，有望为临床医生与求美者提供全新的治疗 选择。 尤为值得关注的是，该产品是全球首创将"重组胶原蛋白"与"透明质酸钠"这两大注射填充领域王牌成分 复合于一体的植入剂，有望通过"即时填充+长效再生"的协同增效模式，开创面部年轻化治疗新范式。 目前，巨子生物在医美领域拥有的两张III类医疗器械注册证，皆通过了国家药监局医疗器械与药品技术 审评中心的联合审评。这一极其严格的双重评审路径，表明产品在安全性、有效性及质量控制等方面远 超行业 ...