Core Insights - The article discusses a significant commercial battle in the beauty industry, particularly focusing on the competition between two major players, Huaxi Biological and Juzhi Biological, over the standards of recombinant collagen products [3][4][8] - The conflict highlights deeper issues within the biotechnology sector, such as the lack of research and development (R&D) investment and the prevalence of concept marketing over scientific validation [9][13][20] Group 1: Industry Competition - The battle over recombinant collagen standards has been ongoing for over a month, revealing a struggle for market share and consumer trust in the beauty sector [3][4] - The conflict was ignited by a report from beauty blogger "Big Mouth Doctor" questioning the amino acid content in Juzhi Biological's product, leading to public scrutiny [4][6] - Juzhi Biological's stock price fell by 37.12% from its peak on May 20 to June 23, resulting in a market value loss of 33.2 billion HKD, while Huaxi Biological's stock saw a slight increase of approximately 1.9% during the same period [8] Group 2: Research and Development Shortcomings - Juzhi Biological admitted to the limitations of its current testing methods, indicating a lack of adequate R&D investment, which was only 1.9% of its revenue in 2024, down from 2.1% in 2023 [9][10] - In contrast, Huaxi Biological and Jinbo Biological had R&D expense ratios of 8.68% and 10.89% respectively, showcasing a significant disparity in investment in innovation [9] - The article emphasizes the need for Juzhi Biological to enhance its R&D efforts to avoid future crises and to better respond to market challenges [10][13] Group 3: Industry Standards and Consumer Trust - The absence of national standards for recombinant collagen testing has led to confusion among consumers, as different companies use varying testing methods, resulting in inconsistent product quality [6][15] - The article argues that the reliance on concept marketing rather than scientific validation is unsustainable and can lead to significant reputational damage for companies [16][20] - The ongoing battle serves as a wake-up call for the industry to prioritize scientific rigor and consumer trust over short-term marketing gains [17][21]

Core Insights - The demand for grape seed health products is increasing due to rising living standards and health awareness among consumers [1][16] - The market size of grape seed health products in China is projected to grow from 5 billion yuan in 2019 to 9 billion yuan by 2024, with a compound annual growth rate of 12% [1][16] - Technological advancements in extraction efficiency and purity are supporting the growth of the grape seed health product market [1][16] Industry Overview - Grape seed health products are derived from grape seeds and contain beneficial components such as vitamins, minerals, amino acids, and antioxidants, offering various health benefits [3][10] - The industry can be categorized by product form (tablets, capsules, liquid), efficacy (antioxidant, anti-aging), and usage scenarios (daily health, beauty, sports nutrition) [5][10] Market Dynamics - The grape seed health product market is experiencing rapid expansion due to the growth of e-commerce and diversified marketing channels [1][16] - The increase in grape production in China, from 13.16 million tons in 2015 to 16.17 million tons in 2023, is expected to provide ample raw materials for grape seed health products [12][14] Regulatory Environment - Recent policies in China aim to promote the integration of the food industry with health and wellness sectors, enhancing the market for functional foods and health products [6][9] Competitive Landscape - Major players in the grape seed health product market include well-known domestic brands such as汤臣倍健 (Tongrentang), 康恩贝 (Kang En Bei), and 九芝堂 (Jiu Zhi Tang), as well as international brands like Nature's Way and NOW Foods [18][19] - Companies are enhancing their competitiveness through improved production technologies and brand marketing strategies [18][19] Consumer Trends - There is a notable increase in consumer demand for high-quality grape seed health products, particularly among women and young adults aged 18 to 35, who represent 83.7% of the health supplement market [24][25] - Consumers are increasingly focused on product quality, efficacy, and safety, necessitating continuous improvement in product formulations [24][25] Future Outlook - The industry is expected to benefit from technological advancements that enhance product absorption and bioavailability [25][26] - The trend of online and offline integration in sales channels is becoming crucial for market growth, providing consumers with a more convenient shopping experience [26][27] - International expansion is a growing trend, with Chinese companies leveraging their resources and technology to compete in global markets [27]

Core Viewpoint - The annual report of Bloomage Biotechnology Corporation Limited for 2024 highlights a significant decline in revenue and net profit, attributed to management changes, increased operational costs, and a decrease in income from skin science innovation transformation business [1][3][6]. Company Overview and Financial Indicators - The company reported a total revenue of approximately 5.37 billion yuan, a decrease of 11.61% compared to the previous year [3]. - The net profit attributable to shareholders was approximately 174 million yuan, reflecting a 70.59% decline year-on-year [3]. - The net profit after deducting non-recurring gains and losses was about 107 million yuan, down 78.13% from the previous year [3]. - The basic earnings per share decreased to 0.36 yuan, a drop of 70.73% [3]. Business Performance and Strategic Initiatives - The company is undergoing a strategic upgrade, focusing on synthetic biology and cell biology to enhance its product offerings and operational efficiency [6][12]. - Management changes and restructuring efforts have incurred costs exceeding 70 million yuan, impacting short-term profitability but aimed at long-term growth [6][12]. - The company has initiated over 30 transformation projects to improve operational management and efficiency [16][20]. Revenue Breakdown - The raw materials business generated approximately 1.24 billion yuan, a year-on-year increase of 9.47%, accounting for 23.06% of total revenue [7]. - The skin science innovation transformation business reported revenue of approximately 2.57 billion yuan, a decline of 31.62%, making up 47.92% of total revenue [11][12]. - The medical terminal business achieved revenue of approximately 1.07 billion yuan, a growth of 43.57% [10]. Research and Development - The company invested 8.68% of its revenue in R&D, up from 7.35% the previous year, focusing on innovative products in the fields of regenerative medicine and nutritional science [3][5]. - New product launches included several innovative raw materials and medical products, enhancing the company's product portfolio [18][19]. ESG and Sustainability Efforts - The company has committed to sustainable development practices, becoming a member of the UN Global Compact and improving its ESG ratings [22]. - Initiatives include optimizing the ESG management system and focusing on green, low-carbon production [22].

证券代码：688363 证券简称：华熙生物 公告编号：2025-024 华熙生物科技股份有限公司 关于 2024 年年度报告的信息披露监管问询函的回复 公告 本公司董事会及全体董事保证本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。 华熙生物科技股份有限公司（以下简称"公司" "华熙生物"）于近日收到 上海证券交易所科创板公司管理部下发的《关于华熙生物科技股份有限公司 （上证科创公函【2025】0245 号，以 下简称" 《问询函》"）。公司对上述《问询函》提到的问题高度重视，公司与致 同会计师事务所（特殊普通合伙） （以下简称"年审会计师"或"会计师"）对 《问询函》所涉及的问题进行了审慎核查，现就相关问题回复如下： 问题一、关于公司主营业务和经营业绩。年报披露，2024 年度，公司营 业收入 53.71 亿元，同比下滑 11.61%，其中功能性护肤品业务收入同比下滑 肤品业务收入下滑、期间费用增加及资产减值损失等因素影响，公司实现净利 润 1.74 亿元，同比下滑 70.59%。公司近年从产品、渠道、组织、品牌等方面 进行调整以夯实业务基础，20 ...

关于华熙生物科技股份有限公司 2024 年年度报告的信息披露监管问询函 中有关财务会计问题的专项说明 我们于 2025年6月9日收到了华熙生物公司转来的上海证券交易所(以 下简称"上交所")出具的《关于华熙生物科技股份有限公司 2024年年度报告 的信息披露监管问询函》(上证科创公函【2025】0245 号,以下简称"问询 函")。按照该问询函的要求,基于华熙生物公司对问询函相关问题的说明 以及我们对华熙生物公司 2024年度财务报表审计已执行的审计工作,现就有 关事项说明如下: 问题一、关于公司主营业务和经营业绩。年报披露,2024年度,公司营 业收入 53.71 亿元,同比下滑 11.61%,其中功能性护肤品业务收入同比下滑 31.62%,原料业务和医疗终端业务分别同比增长 9.47%、32.03%。受功能性护 肤品业务收入下滑、期间费用增加及资产减值损失等因素影响,公司实现净 利润 1.74 亿元,同比下滑 70.59%。公司近年从产品、渠道、组织、品牌等方 面进行调整以夯实业务基础,2024年公司研发投入金额为 4.66 亿元,较上年 基本持平,公司 2025年一季报披露"战略性创新业务投入同比保持稳 ...

华熙生物科技股份有限公司 关于获得政府补助的公告 证券代码：688363 证券简称：华熙生物 公告编号：2025-023 华熙生物科技股份有限公司董事会 2025 年 7 月 1 日 本公司董事会及全体董事保证本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。 二、 补助的类型及其对上市公司的影响 根据《企业会计准则第 16 号——政府补助》等有关规定，公司上述获得的 政府补助为与收益相关的政府补助，预计对 2025 年度利润将产生一定的积极影 响。上述政府补助未经审计，具体的会计处理以及对公司 2025 年度损益的影响， 最终以审计机构年度审计确认后的结果为准，敬请广大投资者注意投资风险。 特此公告。 一、 获取补助的基本情况 华熙生物科技股份有限公司（以下简称"公司"）于 2025 年 6 月 30 日收到政 府补助资金人民币 2,400 万元。 1 ...

华熙生物科技股份有限公司 关于 2024 年年度报告的信息披露监管问询函的回复 公告 本公司董事会及全体董事保证本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。 华熙生物科技股份有限公司（以下简称"公司""华熙生物"）于近日收到 上海证券交易所科创板公司管理部下发的《关于华熙生物科技股份有限公司 2024 年年度报告的信息披露监管问询函》（上证科创公函【2025】0245 号，以 下简称"《问询函》"）。公司对上述《问询函》提到的问题高度重视，公司与致 同会计师事务所（特殊普通合伙）（以下简称"年审会计师"或"会计师"）对 《问询函》所涉及的问题进行了审慎核查，现就相关问题回复如下： 问题一、关于公司主营业务和经营业绩。年报披露，2024 年度，公司营 业收入 53.71 亿元，同比下滑 11.61%，其中功能性护肤品业务收入同比下滑 31.62%，原料业务和医疗终端业务分别同比增长 9.47%、32.03%。受功能性护 肤品业务收入下滑、期间费用增加及资产减值损失等因素影响，公司实现净利 润 1.74 亿元，同比下滑 70.59%。公司近年从产品、 ...

Group 1 - The stock of Huaxi Biological (688363) has a comprehensive score of 48.01, indicating a weak performance [1] - The main cost analysis shows that the current main cost is 51.35 yuan, with a 5-day main cost of 51.43 yuan and a 20-day main cost of 52.60 yuan [1] - There have been no instances of the stock hitting the upper or lower limits in the past year [1] Group 2 - As of June 30, 2025, the net outflow of main funds is 118.96 million yuan, accounting for -1% of the total transaction amount [2] - The short-term pressure level is at 51.90 yuan, while the short-term support level is at 50.67 yuan [2] - The stock is associated with several sectors, including beauty care (0.52%), medical device concept (1.62%), cosmetics concept (0.51%), and medical beauty (1.20%) [2]

导语 ： 医美机构"贴牌玻尿酸"的重要运营模式之一，似乎是将正规玻尿酸品牌产品用于低价线上引流，实际再用 自己的贴牌产品"狸猫换太子"。 6 月 14 日，据央视报道，青岛、荣成等海关近期查获大量未申报的注射用医美产品。其中，玻尿酸针剂被缴获 15337 支，成为走私重灾区。 图源：央视新闻 这些非法产品流入市场后，不仅逃避监管，还可能因质量参差导致消费者面部溃烂甚至毁容。 走私入境，属于通常所说的"黑药械"。其实，在阳光与黑色之间，还有更具隐蔽性、更不宜察觉的"灰色"地带。 这样的"灰色"地带，往往出现在正规医美机构——比如，披着"合法外衣"的"贴牌玻尿酸"，更能够绕过监管视线，为 消费者带来难以估量的风险。 所谓"贴牌玻尿酸"，是指玻尿酸生产厂家为不同的委托方（通常是医美机构或品牌商）生产不同品牌的玻尿酸产品。 通常情况下，这些产品会由委托方自行销售。 之所以贴牌，一个重要原因是，医美用玻尿酸的生产资质较为稀缺。 玻尿酸虽用途广泛，但医美行业常见的玻尿酸，通常作为整形、注射填充使用，属于长期植入类的三类医疗器械。根 据《医疗器械生产监督管理办法》，三类医疗器械生产资质的获取，需要遵循严格的法规和程序，并取 ...

Core Insights - The efficiency of commercializing scientific research results has become a key measure of corporate development capabilities in a competitive market [1] - Huaxi Biological, a leading global biotechnology company, has effectively transformed its research achievements in hyaluronic acid (HA) into market recognition through strong R&D and market insight [1][2] Company Overview - Huaxi Biological has focused on the research and application of hyaluronic acid and its derivatives since its establishment, successfully building a globally recognized brand in the hyaluronic acid industry over 20 years [2] - As of the end of 2024, Huaxi Biological has applied for 1,047 patents, including 826 invention patents and 587 authorized patents, with R&D investment of 466 million yuan, accounting for 8.68% of its revenue, ranking among the top in A-share listed companies [2] Market Positioning - The company emphasizes understanding consumer needs while conducting B-end research, leading to a strong focus on high-value products in the pharmaceutical and cosmetic sectors [3] - Huaxi Biological has developed a range of HA products, including pharmaceutical-grade, cosmetic-grade, and food-grade HA, to meet diverse consumer demands [3] Product Innovation - The launch of the "Next Throw" repair essence, utilizing HA targeting technology, demonstrates the company's ability to respond to scientific advancements and market trends [3] - The collaboration with the Palace Museum to create a lipstick line integrates traditional culture with modern technology, enhancing brand value and market competitiveness [5][6] Strategic Capabilities - Huaxi Biological has established three core capabilities: strong R&D innovation, effective results conversion, and high market conversion efficiency, enabling it to serve global enterprises and consumers [7] - In 2023, the company achieved revenue exceeding 6 billion yuan, solidifying its leadership in the global hyaluronic acid market [7] Future Directions - The company is exploring the health benefits of various polysaccharides and building a sugar library to support future research and applications [7] - Huaxi Biological's experience in transforming scientific achievements is seen as essential for Chinese enterprises undergoing significant transitions in the current economic landscape [7]