Core Viewpoint - The medical beauty sector experienced a decline of 1.44% on October 28, with Jinbo Biological leading the drop. The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1]. Group 1: Market Performance - The medical beauty sector's individual stock performance showed the following results: - Huaxi Biological closed at 52.72, down 1.03% with a trading volume of 18,000 shares and a transaction value of 95.6261 million yuan [1]. - *ST Meigu closed at 3.56, down 1.39% with a trading volume of 130,900 shares and a transaction value of 47.2460 million yuan [1]. - Aimeike closed at 163.54, down 1.74% with a trading volume of 32,100 shares and a transaction value of 529 million yuan [1]. - Jinbo Biological closed at 245.86, down 2.05% with a trading volume of 12,100 shares and a transaction value of 299 million yuan [1]. Group 2: Capital Flow - On the same day, the medical beauty sector saw a net outflow of 35.3969 million yuan from main funds, a net outflow of 24.4121 million yuan from speculative funds, and a net inflow of 59.809 million yuan from retail investors [2].

证券代码：688363 证券简称：华熙生物 公告编号：2025-040 华熙生物科技股份有限公司 2025年第一次临时股东会决议公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 10 月 27 日 （二） 股东会召开的地点：北京市朝阳区建国门外大街甲六号华熙国际中心 D 座 36 层会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 221 | | --- | --- | | 普通股股东人数 | 221 | | 2、出席会议的股东所持有的表决权数量 | 298,195,892 | | 普通股股东所持有表决权数量 | 298,195,892 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 62.3368 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 62.3 ...

中国北京建国门外大街 1 号国贸写字楼 2 座 12-15 层 100004 12-14th Floor, China World Office 2, No. 1 Jianguomenwai Avenue, Beijing 100004, China 电话 Tel: +86 10 6563 7181 传真 Fax: +86 10 6569 3838 电邮 Email: beijing@tongshang.com 网址 Web: www.tongshang.com 北京市通商律师事务所 关于华熙生物科技股份有限公司 2025 年第一次临时股东会的法律意见书 致：华熙生物科技股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人 民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》 （以下简称"《股东会规则》"）等法律、法规及规范性文件和《华熙生物科 技股份有限公司章程》（以下简称"《公司章程》"）的规定，北京市通商律 师事务所（以下简称"通商"或"本所"）接受华熙生物科技股份有限公司 （以下简称"公司"）委托，指派本所律师出席了公司于 2025 年 10 月 27 日召 开 ...

Core Insights - Huaxi Biological's core brand, Runbaiyan, has named two venues in Beijing and Chongqing as "Huaxi Biological・Runbaiyan ECM Center" [1] - The ECM Center integrates sports events, performing arts, and leisure commerce, becoming a cultural landmark and urban vitality center [1] - Huaxi Biological is one of the few companies globally that has a comprehensive layout in the ECM (extracellular matrix) field, focusing on the overall synergy of key ECM substances [1] Company Overview - Huaxi Biological is engaged in the research and development of key ECM substances, establishing a unified underlying technology and product planning for oral, external, and medical applications [1]

Market Overview - The Shanghai Composite Index is at 3981.95 points, above the annual line, with an increase of 0.80% [1] - The total trading volume of A-shares is 12,201.25 billion yuan [1] Stocks Breaking Annual Line - A total of 44 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1] - Stocks with the highest deviation rates include: - Weiston (5.84%) - Yongfu Co., Ltd. (5.49%) - Zhixiang Jintai (4.58%) [1] Detailed Stock Performance - The following stocks have notable performance metrics: - Weiston: Today's increase of 13.21%, turnover rate of 19.88%, latest price at 55.62 yuan [1] - Yongfu Co., Ltd.: Today's increase of 8.21%, turnover rate of 2.57%, latest price at 26.37 yuan [1] - Zhixiang Jintai: Today's increase of 6.55%, turnover rate of 5.49%, latest price at 30.10 yuan [1] - Other stocks with lower deviation rates include: - Qiyuan (0.77%) - Hars (0.71%) - Huaxi Biological (0.66%) [2]

Core Insights - The Chinese beauty industry has reached a milestone with Huaxi Biological's core brand, Runbaiyan, officially naming two landmark venues in Beijing and Chongqing as Huaxi Biological·Runbaiyan ECM Centers, marking the brand's significant exposure and strategic extension into urban markets [1][4] Group 1: Brand Strategy and Market Positioning - Runbaiyan's naming of the venues signifies its status as a domestic skincare brand that has successfully branded two major city landmarks [1] - The brand aims to transition from mere brand exposure to a scientific narrative, emphasizing the importance of ECM (extracellular matrix) in both biological and urban contexts [1][8] - The integration of cultural and sports events within these venues is expected to foster emotional connections and commercial prosperity, akin to how ECM supports cellular functions [8][11] Group 2: Scientific Foundation and Innovation - ECM is recognized as a fundamental component for life, influencing cellular organization and communication, and has been identified as a key factor in aging and tissue regeneration by international research [3][9] - Huaxi Biological has invested years in ECM research, aiming to translate scientific understanding into urban living experiences, thereby creating a connection between individuals and cities [3][9] - The scientific insights provided by experts highlight the role of hyaluronic acid in ECM, which is crucial for cellular signaling and regeneration, reinforcing the brand's commitment to scientific innovation [9] Group 3: Consumer Engagement and Experience - The newly established ECM Centers in Beijing and Chongqing will offer a unique blend of sports, entertainment, and leisure, creating vibrant cultural landmarks [11] - Runbaiyan plans to develop a multi-dimensional membership system that enhances consumer experiences by leveraging the foot traffic and cultural engagement at these venues [11][13] - Interactive elements, such as product sampling and exclusive event experiences, are designed to enrich consumer participation and connection with the brand [13][15]

Core Insights - The article discusses how Huaxi Biotechnology, a leading hyaluronic acid company, is overcoming the "valley of death" in the biotechnology sector through strategic investments and innovations [1][3] Group 1: Strategic Decisions - Huaxi invested 3 billion yuan to build the world's largest pilot testing platform, which is a critical strategic decision for the company [3] - This pilot platform serves as a "translator" and "accelerator" that connects scientific research with industrial application, allowing for the verification of new processes and materials at a lower cost and risk [3] Group 2: Business Model and Synergy - The platform creates strong strategic synergy between Huaxi's B-end raw material business and C-end brand business, enabling continuous exploration of cutting-edge technology and direct capture of consumer demand [3] - The pilot platform acts as a hub that facilitates the rapid transformation of advanced technologies into marketable products, while also allowing market feedback to drive research and development [3] Group 3: Competitive Advantage - This strategic move lays a solid foundation for Huaxi's transformation from a leading hyaluronic acid company to a biotechnology platform enterprise, ensuring a continuous flow of technological reserves to the market [3] - The company is positioned to maintain dynamic competitiveness through ongoing innovation and leadership in the industry [3]

Core Insights - The collagen market is experiencing significant growth driven by increasing consumer focus on efficacy and ingredients, with two main growth drivers: professional skin care and aesthetic injection applications [1][3] - The collagen market in China is projected to exceed 16 billion yuan at the raw material level and approach 270 billion yuan at the retail level by 2030 [1] - The industry is currently in a phase of policy refinement, accelerated technological iteration, and tight collaboration across the supply chain [1] Industry Structure - The collagen industry has a high degree of integration between raw material supply and end product manufacturing, with upstream suppliers, midstream manufacturers of recombinant collagen, and downstream sales channels [2] - The market is characterized by significant growth potential, high technological barriers, and intense competition [2] End-User Applications - The demand for professional skin care products that combine medical safety and cosmetic efficacy is rapidly increasing, particularly in the aesthetic medicine sector [3] - Applications of collagen products are expanding from traditional moisturizing and nourishing functions to include core roles in aesthetic injection materials [3] Recommended Companies - Companies to watch include: Giant Bio (02367), Jinbo Bio (920982.BJ), Marubi Bio (603983.SH), Huaxi Bio (688363.SH), Fulejia (301371.SZ), Novozymes (688105.SH), Baipusais (301080.SZ), and Betaini (300957.SZ) [4]

Group 1 - The medical beauty sector experienced a decline of 0.12% on October 23, with Jinbo Biological leading the drop [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] - Key stocks in the medical beauty sector showed mixed performance, with Aimeike rising by 0.64% and Jinbo Biological falling by 2.84% [1] Group 2 - The net outflow of main funds in the medical beauty sector was 32.09 million yuan, while retail funds saw a net inflow of 10.22 million yuan [1] - Specific stock fund flows indicated that *ST Meigu experienced a main fund outflow of 6.29 million yuan, while retail funds had a net inflow of 6.18 million yuan [2] - Huaxi Biological also faced a main fund outflow of 10.03 million yuan, with retail funds showing a net inflow of 4.67 million yuan [2]

Core Insights - The medical beauty sector experienced a slight decline of 0.17% on October 22, with Ai Meike leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Sector Performance - The closing prices and performance of key stocks in the medical beauty sector are as follows: - *ST Meigu: Closed at 3.69, up 4.53% with a trading volume of 293,600 shares and a transaction value of 108 million yuan [1] - Huaxi Biological: Closed at 53.70, up 0.45% with a trading volume of 20,500 shares and a transaction value of 1.1017 million yuan [1] - Jinbo Biological: Closed at 262.87, down 0.38% with a trading volume of 6,168 shares and a transaction value of 163 million yuan [1] - Ai Meike: Closed at 166.15, down 0.98% with a trading volume of 17,500 shares and a transaction value of 292 million yuan [1] Capital Flow - The medical beauty sector saw a net outflow of 20.9685 million yuan from main funds, while retail investors contributed a net inflow of 11.5985 million yuan [1] - Detailed capital flow for key stocks: - Huaxi Biological: Main funds net inflow of 10.7629 million yuan (9.81% of total), retail net outflow of 8.6171 million yuan (-7.86% of total) [2] - *ST Meigu: Main funds net inflow of 719,200 yuan (0.66% of total), retail net outflow of 2.7039 million yuan (-2.49% of total) [2] - Ai Meike: Main funds net outflow of 32.4506 million yuan (-11.11% of total), retail net inflow of 22.9195 million yuan (7.84% of total) [2]