表决结果：同意 3 票，反对 0 票，弃权 0 票。 监事会认为：公司 2025 年第一季度报告已经公司第二届董事会第十八次会 议审议通过，其编制及审议程序符合法律、行政法规及中国证监会的规定，内容 和格式符合中国证监会和上海证券交易所的相关规定，所载资料真实、准确、完 整地反映了公司的经营情况和财务状况，不存在任何虚假记载、误导性陈述或重 大遗漏。 第二届监事会第十三次会议决议公告 具 体 内 容 详 见 公 司 于 2025 年 4 月 26 日 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露的《华熙生物科技股份有限公司 2025 年第一季度报告》。 特此公告。 本公司监事会及全体监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。 一、监事会会议召开情况 2025 年 4 月 25 日华熙生物科技股份有限公司（以下简称"公司"）以现场 结合通讯方式召开了第二届监事会第十三次会议，会议通知及会议材料已于 2025 年 4 月 20 日以电子邮件形式发出。本次会议由监事会主席于静主持，应出 席监事 3 人，实际出席 ...

Financial Performance - The company's operating revenue for Q1 2025 was approximately ¥1.08 billion, a decrease of 20.77% compared to ¥1.36 billion in the same period last year[4] - Net profit attributable to shareholders was ¥101.89 million, down 58.13% from ¥243.37 million year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥81.91 million, a decline of 64.62% compared to ¥231.48 million in the previous year[4] - The net cash flow from operating activities was negative at -¥22.98 million, compared to a positive ¥34.85 million in the same period last year[4] - Total operating revenue for Q1 2025 was CNY 1,077,926,981.07, a decrease of 20.7% compared to CNY 1,360,531,915.00 in Q1 2024[21] - Net profit for Q1 2025 was CNY 101,136,170.05, a decline of 58.4% from CNY 243,387,652.32 in Q1 2024[22] - Basic and diluted earnings per share for Q1 2025 were CNY 0.21, compared to CNY 0.51 in Q1 2024[23] Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥8.54 billion, a decrease of 1.38% from ¥8.66 billion at the end of the previous year[5] - As of March 31, 2025, the total current assets amount to approximately CNY 2.65 billion, a decrease from CNY 2.74 billion as of December 31, 2024[17] - The company's cash and cash equivalents decreased to approximately CNY 680.99 million from CNY 719.27 million[17] - Accounts receivable decreased to approximately CNY 521.71 million from CNY 542.88 million[17] - Total assets decreased to CNY 8,537,342,829.91 in Q1 2025 from CNY 8,656,731,837.99 in Q1 2024, a reduction of 1.4%[19] - Total liabilities decreased to CNY 1,579,573,164.68 in Q1 2025 from CNY 1,816,928,764.63 in Q1 2024, a decline of 13.1%[19] - Non-current liabilities totaled CNY 458,742,855.20 in Q1 2025, down from CNY 475,898,909.22 in Q1 2024[19] Research and Development - Research and development expenses totaled ¥104.97 million, representing 9.74% of operating revenue, an increase of 2.70 percentage points from 7.04% year-on-year[5] - The company reported a significant increase in research and development expenses to CNY 104,972,584.01 in Q1 2025, up from CNY 95,741,342.10 in Q1 2024[21] - Research and development expenses have also increased year-on-year, focusing on cutting-edge technology to enhance long-term competitiveness[11] - The company is actively investing in innovative business areas such as regenerative medicine and nutritional science, with stable year-on-year investment in strategic innovation[11] - The company has established a unique polysaccharide research and development platform, leveraging its expertise in hyaluronic acid to maintain a leading position in the global glycoscience industry[28] Strategic Initiatives - The company’s chairman has taken direct management of the skin science innovation transformation business to address performance declines[9] - The company has rebranded its "personal health consumer products business" to "skin science innovation transformation business" to enhance management and operational efficiency[10] - A "Frontier Insight Scientific Content Research Center" has been established to integrate technological innovations across various business lines[10] - The company plans to focus on maintaining its brand and implementing a new brand content system based on scientific strength and AI assistance[9] - The company is undergoing a third strategic upgrade focusing on sugar biology and cell biology, which may create short-term performance pressure but aims for long-term growth[12] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 32,746[14] - The largest shareholder, Huaxi Xinyu Investment Co., Ltd., holds 283.5 million shares, accounting for 58.86% of total shares[15] Cash Flow and Financing - The company's cash flow statement for Q1 2025 is under review and has not been finalized yet[23] - Total cash inflow from investment activities in Q1 2025 was $30.84 million, down from $342.14 million in Q1 2024, reflecting reduced investment returns[24] - The net cash flow from financing activities in Q1 2025 was $49.55 million, compared to a net outflow of $220.21 million in Q1 2024, showing a positive shift in financing[25] - The company received $118.46 million in cash from borrowings in Q1 2025, indicating active financing efforts[25] - Cash outflows for operating activities totaled $1.23 billion in Q1 2025, compared to $1.35 billion in Q1 2024, showing a reduction in operational cash expenses[24] - The company reported a cash inflow of $30 million from other investment activities in Q1 2025, a significant drop from $335 million in Q1 2024[24] Market Position and Industry Trends - The company is positioned as a leader in the glycoscience field, focusing on the development and application of glycan research, particularly in regenerative medicine and functional foods[26] - The global glycoscience research has seen significant growth, particularly in areas like inflammation regulation and cancer mechanisms, indicating a promising market for the company's products[27]

Industry Overview - The functional skincare market has become a dominant segment within the broader skincare industry, driven by increasing consumer awareness of skin issues and ingredient research [3][5] - Functional skincare products are designed for individuals with specific skin concerns, including whitening, anti-aging, sun protection, and hydration, often containing medicinal ingredients [1][5] Market Growth - The global functional skincare market is projected to grow from $35.3 billion in 2016 to $168 billion by 2024, while the Chinese market is expected to increase from 7.42 billion yuan to 48 billion yuan in the same period [5] - The demand for functional skincare products is fueled by the rise of ingredient-conscious consumers, sensitive skin populations, and post-aesthetic treatment recovery needs [3][5] Product Categories - Functional skincare products encompass three main categories: dermatological skincare, efficacy-driven skincare, and medical-grade skincare, with "pharmaceutical cosmetics" falling under dermatological skincare [5] - Professional skincare products are further divided into patch-based and non-patch-based forms, with patch-based products, such as masks, projected to grow from 2.38 billion yuan in 2017 to 19.34 billion yuan by 2024 [5] Industry Leaders - Companies like Huaxi Biological, Beitaini, and Juzhi Biological are recognized as industry leaders, driving development through innovation [9] Consumer Trends - The evolution of functional skincare reflects a dual pursuit of beauty and health, highlighting a growing consumer awareness of personal skincare needs [11]

【SynBioCon】 获 悉，2025年4月19-20日，中国（海南）自由贸易试验区、国家全面深化改革开放试验区、国家生态文明试验区的重要城市三亚迎 来了一场盛会——生物经济50人论坛（三亚）。这场由深圳市华谷致远生物科技与产业研究院（下称"华谷研究院"）主办，招商三亚深海科技城开发有 限公司承办的论坛，在崖州湾科技城盛大开幕。 本次论坛以"海洋生物制造：重塑未来产业格局"为主题，不仅汇聚了国内200多位顶尖的"产、学、研、投、用"各界领导和专家，更搭建了为产业创新 发展提供战略思路与实践方案的高端平台。相信必将有力推动我国生物经济再上新台阶。 4月19日下午，论坛的预热会议——生物制造产业联盟第三次理事会率先召开，包括理事长单位、副理事长单位、理事单位以及特邀嘉宾在内共计50多 位代表参加。 会上重点围绕工信部国家生物制造业创新中心的建设问题展开讨论 ；会议期间还全面总结2024年联盟工作，并就 生物经济的形势、相 关政策、企业关注的重大问题 等进行深入探讨。 论坛的重要议程之一是 华谷研究院正式发布 2024生物制造产业蓝皮书 。这是华谷研究院联合国内相关机构，专门针对生物制造产业编撰的系统性报 告。该 ...

真正优秀的成分，总会随着时间焕发新的生命力。 在护肤领域，透明质酸（ HA），也就是我们熟知的玻尿酸，堪称初代 "顶流巨星"。从保湿到抗皱，从修复到紧致，它的功效几乎覆盖了消费者对护肤 品的所有期待。然而，随着胜肽、烟酰胺等新兴成分的涌现，一时间，质疑声四起：曾经风靡护肤界的玻尿酸，如今是否还能保持它的优势？ 这种断层式领先表明，无论市场如何变化，透明质酸依然是品牌配方中的核心选择。 为什么透明质酸能够保持这样的地位？答案很简单 ——它不仅是一种经典成分，更是一种经过时间验证、安全可靠且功效显著的护肤原料。 透明质酸 的抗皱紧致 地位坚如磐石 数据不会撒谎。 根据中国香妆和用户说联合发布的《 2025原料成分趋势洞察榜单》，透明质酸稳坐"抗皱紧致"成分应用热度榜首。在2025年1-2月备 案的护肤品中，含有透明质酸的产品数量高达10562个，是第二名烟酰胺（5504个）的近两倍。 早期的透明质酸提取工艺复杂且成本高昂。 1949 年，Boas 从鸡冠中分离出透明质酸。提取 1g 透明质酸需要 200 公斤鸡冠（约 2 万只鸡），导致生 产成本极高，每公斤售价高达10万美元，被誉为"液体黄金"。 从 "液体黄金 ...

证券代码：688363 证券简称：华熙生物 公告编号：2025-013 会议召开时间：2025 年 04 月 23 日（星期三）15:00-17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 4 月 22 日 （星期二）16:00 前登录上证路演中心网 站首页点击"提问预征集"栏目或通过公司邮箱 ir@bloomagebiotech.com 进行 提问。公司将在说明会上对投资者普遍关注的问题进行回答。 华熙生物科技股份有限公司（以下简称"公司"）已于 2025 年 4 月 11 日发 布公司 2024 年度报告，为便于广大投资者更全面深入地了解公司 2024 年度经营 成果、财务状况，公司计划于 2025 年 4 月 23 日（星期三）15:00-17:00 参加 2024 年度科创板生物制品及 CXO 行业集体业绩说明会，就投资者关心的问题进行交 流。 一、说明会类型 华熙生物科技股份有限公司 关于参加 2024 年度科创板生物制 ...

毛利率方面，原料业务（不含弗思特）整体毛利率为65.57%，同比+0.86pcts，医药级透明质酸原料毛 利率为87.56%。公司原料产品不断丰富，2024 年进行原料及合成生物研发项目96 个，10 种生物活性物 原料新产品完成上市。 2）医疗终端业务：实现收入14.40 亿元（yoy+32.03%），毛利率同比+2.27pcts至84.37%，医美业务变 革效果显著，运营能力提升，费用率稳步下降。皮肤类医疗产品实现收入10.73 亿元（yoy+43.57%）， 公司医美机构覆盖数量为7000 家，同增30%+。其中差异化优势品类微交联润致娃娃针收入同增 100%+，覆盖机构数量超5000 家；坚持产品家族化组合应用，润致填充剂收入同增30%+，覆盖机构数 量超3000 家，2024 年10 月发布新品"润致·格格"与"润致·斐然"，分别聚焦颈部抗衰和唇部美容市场， 公司多款新型交联技术产品已进入临床或注册阶段，未来1-2 年内将推出更多适用于鼻背、下颏、颞 部、眼周等高价值部位产品。公司2 款透明质酸三类医疗器械水光产品均已完成临床试验进入注册审评 阶段，预计2025 年上半年取得注册证，有望成为首批合规 ...

证券研究报告 | 年报点评报告 gszqdatemark 2025 04 18 年 月 日 原料/医疗终端业务稳健同增 9.47%/32.03%，皮肤科学创新转化业务承压。 2024 年分业务板块来看： 1）原料业务：实现收入 12.36 亿元（yoy+9.47%），其中国际市场原料实现收入 6.08 亿元（yoy+17.65%），美洲、欧洲、东南亚等地销售收入同比增长均超过 20%。 毛利率方面，原料业务（不含弗思特）整体毛利率为 65.57%，同比+0.86pcts， 医药级透明质酸原料毛利率为 87.56%。公司原料产品不断丰富，2024 年进行原 料及合成生物研发项目 96 个，10 种生物活性物原料新产品完成上市。 2）医疗终端业务：实现收入 14.40 亿元（yoy+32.03%），毛利率同比+2.27pcts 至 84.37%，医美业务变革效果显著，运营能力提升，费用率稳步下降。皮肤类医 疗产品实现收入 10.73 亿元（yoy+43.57%），公司医美机构覆盖数量为 7000 家， 同增 30%+。其中差异化优势品类微交联润致娃娃针收入同增 100%+，覆盖机构 数量超 5000 家；坚持产品 ...

Investment Rating - The report maintains a "Buy" rating for the company [7] Core Views - The company is experiencing a phase of operational pressure, with expectations for gradual improvements from management reforms and strategic investments [1] - Revenue for 2024 is projected at 5.371 billion yuan, a year-over-year decrease of 11.61%, while net profit is expected to be 174 million yuan, down 70.59% year-over-year [1] - The company is positioned as a biotechnology materials platform, with potential for steady growth across its diversified business segments as management reforms take effect [5] Business Segment Summaries Raw Material Business - Revenue reached 1.236 billion yuan, an increase of 9.47% year-over-year, with international markets contributing 608 million yuan, up 17.65% [2] - The overall gross margin for the raw material business was 65.57%, a slight increase of 0.86 percentage points [2] Medical Terminal Business - Revenue for this segment was 1.440 billion yuan, reflecting a significant growth of 32.03% year-over-year, with a gross margin of 84.37% [3] - The aesthetic medicine business showed notable improvement, with skin-related medical products generating 1.073 billion yuan, up 43.57% [3] Skin Science Innovation Business - This segment reported revenue of 2.569 billion yuan, a decline of 31.62% year-over-year, with a gross margin of 72.80% [4] - The company is focusing on product innovation in skin repair and anti-aging, with new product launches aimed at enhancing competitive positioning [4] Nutritional Science Innovation Business - Revenue in this area was 82 million yuan, marking a growth of 40.97% year-over-year, focusing on key areas such as nutrition and immunity [4] Financial Forecasts and Investment Recommendations - Revenue projections for 2025-2027 are set at 5.848 billion yuan, 6.522 billion yuan, and 7.387 billion yuan, representing year-over-year growth rates of 8.9%, 11.5%, and 13.3% respectively [5] - Net profit forecasts for the same period are 469 million yuan, 624 million yuan, and 778 million yuan, with significant growth anticipated in 2025 at 169.2% [5]