Core Viewpoint - The closure of the Runxiquan brand by Huaxi Biological is part of a strategic transformation aimed at refocusing on core brands and addressing declining performance in the functional skincare sector [1][4][5] Brand Adjustment - Huaxi Biological has confirmed the shutdown of the Runxiquan brand, stating it contributed insignificantly to revenue and profit [4][5] - The brand was launched in 2019, focusing on collagen-based skincare products, but has since become marginalized [5][6] - Runxiquan's revenue was not disclosed, but it is inferred to have a small share in the overall revenue of Huaxi Biological, which reported total functional skincare revenue of 2.569 billion yuan in 2024 [4][6] Financial Performance - The functional skincare business of Huaxi Biological has seen a significant decline, with a revenue drop of 31.62% in 2024 [6][7] - Major brands under Huaxi Biological, including Runbaiyan and Kuaidi, also experienced revenue declines ranging from 22.63% to 52.06% [6][7] - Overall revenue and net profit for Huaxi Biological fell by 19.57% and 35.38% respectively in the first half of 2025 [6][7] Market Challenges - The functional skincare sector is facing a bottleneck, with increased competition and a saturated market limiting growth opportunities for smaller brands [5][10] - Huaxi Biological's past success was heavily reliant on traffic-driven sales, which has become unsustainable due to rising costs and diminishing returns [7][10] Strategic Transformation - Huaxi Biological is undergoing a significant internal transformation, focusing on five key areas: operations, products, channels, organization, and branding [9] - The company aims to shift from a traffic-driven sales model to a science-based brand communication strategy [9] - Recent adjustments have led to improved team efficiency and inventory turnover for brands like BM Jihuo and Mibeier [9]

Group 1 - The medical beauty sector experienced a decline of 1.32% on September 10, with Huaxi Biological leading the drop [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] - Major stocks in the medical beauty sector showed mixed performance, with Jinbo Biological up 1.18% and Aimeike down 1.25% [1] Group 2 - The net outflow of main funds in the medical beauty sector was 36.64 million yuan, while retail funds saw a net inflow of 4.67 million yuan [1] - Specific stock performances included ST Meigu's decline of 11.42% and Huaxi Biological's drop of 5.32% [2] - Aimeike experienced a significant net outflow of 31.63 million yuan, indicating a negative trend in investor sentiment [2]

Core Viewpoint - Saint Nor Pharmaceutical has secured approximately HKD 208.2 million in funding through a subscription agreement with Huaxi Biotechnology, which will become its second-largest shareholder with a 9.44% stake [1][2]. Group 1: Investment and Financial Performance - Huaxi Biotechnology's subsidiary will subscribe to 11.56828 million shares at HKD 12 per share, totaling around HKD 139 million [1]. - The stock price of Saint Nor Pharmaceutical surged by 22.78% on the announcement day, closing at HKD 18.38, and continued to rise, reaching HKD 20.62 the following day, marking a cumulative increase of over 120% in eight trading days [2][3]. - As of mid-2023, Saint Nor Pharmaceutical reported no product sales revenue and incurred a loss of approximately USD 3.4 million, with cash and cash equivalents amounting to USD 6.872 million [5][6]. Group 2: Strategic Partnerships and Future Plans - The funding will primarily be used to advance clinical progress of in-development products and delivery system development, with a focus on leveraging Huaxi's expertise in hyaluronic acid to accelerate the development of small nucleic acid products [2][11]. - Saint Nor Pharmaceutical aims to collaborate with Huaxi Biotechnology on the clinical development and commercialization of the STP705 targeted fat reduction project, which is currently in phase I clinical trials [11][13]. - Huaxi Biotechnology has expressed interest in the small nucleic acid drug sector, viewing it as a promising area for investment and collaboration [11][14]. Group 3: Market Context and Challenges - Saint Nor Pharmaceutical, once a leading player in the small nucleic acid sector, has faced challenges in a changing pharmaceutical landscape, leading to a period of contraction after its initial public offering [3][6]. - Huaxi Biotechnology has experienced a decline in revenue from its core functional skincare segment, with a significant drop in sales reported for 2023 and 2024 [7][8]. - The company is undergoing a strategic transformation from a component supplier to a biotechnology platform, which includes direct investments in innovative drug companies like Saint Nor Pharmaceutical [10][14].

Core Viewpoint - Saint Nor Pharmaceutical has secured a significant investment from Huaxi Biotechnology, which will become its second-largest shareholder, indicating a strategic partnership aimed at advancing its clinical pipeline and enhancing its market position in the biopharmaceutical sector [1][3][14]. Group 1: Investment Details - Huaxi Biotechnology plans to subscribe to 11.56828 million shares of Saint Nor Pharmaceutical at HKD 12 per share, totaling approximately HKD 139 million [1]. - In addition to Huaxi, three other investors have subscribed to a total of 5.7841 million shares, raising a total of HKD 208.2 million for Saint Nor Pharmaceutical [2]. - Following the announcement, Saint Nor's stock price surged, closing at HKD 18.38 on September 8, a 22.78% increase, and further rising to HKD 20.62 on September 9, marking a 12.19% increase [2]. Group 2: Company Performance and Strategy - As of mid-2023, Saint Nor Pharmaceutical reported no product sales revenue and incurred a loss of approximately USD 3.4 million, with cash and cash equivalents of USD 6.872 million [6]. - The company has been undergoing management changes, with a new CEO appointed in late 2022, indicating a shift in leadership strategy [6]. - Saint Nor aims to utilize the new funding primarily for advancing its clinical products and delivery systems, with a focus on its aesthetic medicine pipeline in collaboration with Huaxi [3][4]. Group 3: Huaxi Biotechnology's Position - Huaxi Biotechnology has experienced a decline in revenue from its core functional skincare segment, with a reported revenue drop of 19.57% year-on-year in the first half of 2023 [8]. - The company is diversifying its investments, having established several funds focused on life sciences and medical innovations, and this investment in Saint Nor marks its first foray into innovative drug development [10][14]. - Huaxi is particularly interested in the small nucleic acid drug sector, which is gaining recognition for its potential in treating various diseases [10][11]. Group 4: Future Prospects - Saint Nor's lead product, STP705, is in advanced clinical trials for indications including targeted fat reduction and skin malignancies, which aligns with Huaxi's expertise in aesthetic medicine [11][13]. - The partnership is expected to enhance Saint Nor's credibility in the capital market, while also allowing Huaxi to transition from a component supplier to a more integrated biopharmaceutical platform [14].

Core Viewpoint - Saint Noble Pharmaceuticals-B (02257.HK) announced a subscription agreement for the issuance of 17.3524 million shares at a subscription price of HKD 12.00 per share, representing a discount of approximately 19.84% from the last trading price of HKD 14.97 on September 5 [1] Group 1 - The total number of subscription shares represents about 16.50% of the company's existing issued share capital as of the announcement date [1] - After the issuance of all subscription shares, the enlarged issued share capital will be approximately 14.16% [1] - The total proceeds from the subscription are expected to be around HKD 208.2 million, with a net amount of approximately HKD 206 million [1] Group 2 - The subscribers include Huaxi Biotechnology (Hong Kong) Co., Ltd., Mr. Xie Shuohao, Bamboo Bloom Limited, and Capstone Resources Holding Limited [1] - The proceeds from the subscription will be used for general working capital of the group [1]

Core Viewpoint - Sanofi Pharmaceutical-B (02257) has seen a significant increase in its stock price, with a year-to-date rise exceeding 530%, currently trading at 22.06 HKD with a transaction volume of 29.72 million HKD [1] Group 1: Investment and Shareholding - Sanofi Pharmaceutical recently announced a placement of 17.35 million new shares at a discount of 19.84% to four investors, including Huaxi Biotechnology (Hong Kong) [1] - Huaxi Biotechnology plans to invest approximately 138 million CNY through its wholly-owned subsidiary, acquiring about 9.44% of Sanofi Pharmaceutical's shares post-placement [1] Group 2: Strategic Collaboration - The investment by Huaxi Biotechnology aims to advance Sanofi Pharmaceutical's research and commercialization in the fields of medical aesthetics, aging intervention, and regenerative medicine, particularly focusing on the STP705 targeted fat reduction project and other siRNA-based medical aesthetic assets [1] - Huaxi Biotechnology emphasizes its role not only as a financial investor but also as a strategic partner, indicating potential for further business collaboration between the two companies [1]

Core Viewpoint - Saint Noble Pharmaceuticals-B (02257) has seen a significant increase in its stock price, with a year-to-date rise exceeding 530% as of the latest report [1] Group 1: Stock Performance - The stock price of Saint Noble Pharmaceuticals rose by over 9%, currently trading at 22.06 HKD with a trading volume of 29.72 million HKD [1] - The cumulative increase in stock price for the year has surpassed 530% [1] Group 2: Investment and Strategic Partnership - Saint Noble Pharmaceuticals announced a placement of 17.35 million new shares at a discount of 19.84% to four investors, including Huaxi Biotechnology (Hong Kong) [1] - Huaxi Biotechnology plans to invest approximately 138 million CNY through its wholly-owned subsidiary, acquiring about 9.44% of Saint Noble Pharmaceuticals post-placement [1] - The investment aims to advance research and commercialization in medical aesthetics, aging intervention, and regenerative medicine, particularly focusing on the STP705 targeted fat reduction project and other siRNA-based medical aesthetic assets [1] - Huaxi Biotechnology emphasizes its role as a strategic investor, indicating potential for further business collaboration with Saint Noble Pharmaceuticals [1]

Core Viewpoint - Huaxi Biological has made a strategic investment in Saint No Pharmaceutical, focusing on the potential of small nucleic acid and RNAi technology in the medical aesthetics sector, particularly in targeted fat reduction [1][2][3]. Investment Details - On September 8, Saint No Pharmaceutical announced a share placement of 17.35 million new shares at HKD 12 per share, with Huaxi Hong Kong, a wholly-owned subsidiary of Huaxi Biological, investing HKD 138 million for 11.57 million shares [1][2]. - The share placement represents approximately 16.50% of the existing issued share capital and 14.16% of the enlarged share capital of Saint No Pharmaceutical [2]. - The placement price reflects a discount of about 19.84% compared to the closing price of HKD 14.97 on September 5 [2]. Company Performance - Huaxi Biological recently reported its worst half-year results since its listing, with revenue and net profit declining by 19.57% and 33.97% year-on-year, respectively [1][5]. - The company's three main business segments—skin science innovation, medical terminal products, and raw materials—experienced varying degrees of decline [5]. - The skin science innovation segment, which is the main revenue driver, saw a significant drop in revenue, contributing only 40.36% to total revenue in the first half of 2025 [5]. Strategic Rationale - The investment in Saint No Pharmaceutical is seen as a proactive strategy to explore new growth opportunities amid declining performance [6][8]. - Huaxi Biological aims to leverage Saint No's research capabilities in RNAi technology to enhance its own product offerings in medical aesthetics and regenerative medicine [3][6]. - The collaboration is expected to facilitate clinical development and commercialization of targeted fat reduction projects in the Greater China region [3]. Historical Context - Huaxi Biological has a history of investments in the pharmaceutical sector, previously acting as a limited partner in various private equity funds [7][8]. - The company has also engaged in acquisitions to expand its capital footprint, including the purchase of a hyaluronic acid raw material supplier and a collagen production company [8][9]. - The founder, Zhao Yan, has a strong background in investment, which may influence the company's strategic direction [9][10].

Group 1 - Sanofi Pharmaceutical announced a subscription agreement with four investors, including Huaxi Biotechnology (Hong Kong) Co., Ltd., to issue 17.3524 million new shares at HKD 12 per share, raising approximately HKD 208.2 million, which accounts for 14.16% of the enlarged share capital [1] - Following the announcement, Sanofi Pharmaceutical's stock price surged nearly 23% on the day of the announcement and continued to rise by nearly 7% the next day, reaching HKD 19.65 per share [2] - Huaxi Biotechnology's strategic investment in Sanofi Pharmaceutical is driven by optimism regarding the development prospects of small nucleic acid drugs and RNAi technology, which have expanded applications in metabolic diseases, tumors, and medical aesthetics [2] Group 2 - Sanofi Pharmaceutical focuses on new drug development centered around RNA interference technology, possessing proprietary delivery platforms such as GalNAc and PNP, with the PNP platform being the first in Asia to achieve targeted delivery of small nucleic acids to non-liver tissues [3] - The core RNAi therapy product STP705 has completed Phase I clinical research for targeted fat reduction in the U.S. and is the first drug to achieve 100% complete clearance in Phase II trials for skin basal cell carcinoma patients [3] - Despite these advancements, Sanofi Pharmaceutical has not yet achieved profitability, reporting a loss of HKD 3.698 million in the first half of 2025 and an expected annual loss of HKD 51.38 million for 2024 [3] Group 3 - Huaxi Biotechnology is undergoing a transformation due to industry conditions and cyclical factors, with its main revenue source, skin science innovation, declining significantly [4] - The company's revenue dropped from HKD 6.359 billion in 2022 to HKD 5.371 billion in 2024, and net profit fell from HKD 971 million to HKD 174 million [4] - In the first half of this year, Huaxi Biotechnology's revenue decreased by 19.57% year-on-year to HKD 2.261 billion, with income from skin science innovation down by 33.97% to HKD 912 million [4]

据悉，此项投资旨在大幅推进圣诺医药在医学美容、衰老干预及再生医学领域的研发与商业化进程。华 熙生物将特别针对STP705靶向减脂项目及其他基于siRNA的医学美容管线资产投入大量资源，包括大中 华地区及全球的临床研发专业知识与商业化能力。 圣诺医药-B(02257)再涨超12%，月内累计涨幅已超120%。截至发稿，涨11.32%，报20.46港元，成交额 1705.02万港元。 消息面上，圣诺医药早前宣布，向华熙生物科技(香港)等四名投资者折让19.84%配售合共1,735.24万股 新股份。华熙生物(688363.SH)表示，此次通过旗下全资子公司斥资约1.38亿元，认购圣诺医药战略配售 的股份，完成配售后公司将持股圣诺医药约9.44%，未来不单是财务投资人，更是战略投资者，双方将 探讨更多业务层面合作的可能性，体现双方的长期战略协同。 ...