2025年4月，山东上市公司的品牌传播效果整体表现如何？日前，壹点智库Brand-C品牌数字实验室对山东上市公司的品牌传 播效果进行了大数据测评，发布了4月份山东上市公司网络传播影响力指数（简称"INC指数"）。数据显示，该月份310家山 东上市公司的INC指数平均值为588.49，与3月相比传播影响力均值增长0.43%。全部品牌INC指数排名上涨最多的是中创物流 股份有限公司，上涨156名；下降最多的是智洋创新科技股份有限公司，下降132名。 位居排行榜前十的分别是青岛啤酒股份有限公司、歌尔股份有限公司、山东高速股份有限公司、海尔智家股份有限公司、中 国重汽集团济南卡车股份有限公司、万华化学集团股份有限公司、澳柯玛股份有限公司、东阿阿胶股份有限公司、浪潮电子 信息产业股份有限公司、史丹利农业集团股份有限公司，其中排名上涨最多的是歌尔股份有限公司，提升14名。上个月排名 前十的品牌本月下降最多的是华熙生物科技股份有限公司，下降10名。 INC指数全称是"网络传播影响力指数"，是数字化时代品牌传播效果量化评价体系。山东上市公司的INC指数评价维度包括传 播广度、传播热度、网络关注度、官网呈现度。INC指数的理论 ...

Core Viewpoint - The ongoing dispute between Juzi Biotech and Huaxi Biotech highlights significant issues within the domestic beauty industry, including unclear standards and a crisis of consumer trust [4][7][26]. Group 1: Company Developments - Juzi Biotech's major shareholder announced plans to increase its stake in the company by at least 200 million HKD, leading to a temporary stock price increase of 4.15% [3][18]. - Despite the initial stock price rise, Juzi Biotech's shares fell again shortly after, indicating a lack of sustained investor confidence [4][5]. - In contrast, Huaxi Biotech reported a significant decline in revenue and profit, with a revenue of 5.317 billion RMB, down 11.61% year-on-year, and a net profit drop of 70.59% to 174 million RMB [22][25]. Group 2: Market Dynamics - The competition between Huaxi Biotech and Juzi Biotech has drawn attention to the effectiveness of hyaluronic acid versus the emerging trend of recombinant collagen, with predictions indicating that the collagen market could surpass hyaluronic acid by 2026 [19][25]. - Juzi Biotech's revenue reached 5.539 billion RMB, a year-on-year increase of 57.17%, while its net profit grew by 42.4% to 2.062 billion RMB [22][25]. Group 3: Industry Issues - The dispute has revealed a lack of rigorous standards and clear definitions in the beauty industry, contributing to consumer skepticism [7][26]. - Industry insiders have pointed out that the marketing strategies often overshadow research and development, with Juzi Biotech's R&D expenditure being significantly lower than that of its competitors [27][29]. - The ongoing debate over ingredient efficacy may serve as a catalyst for improved transparency and standards within the industry, potentially benefiting consumers and companies alike [29][30].

近期，关于"重组胶原蛋白"的争议话题，持续引发行业及市场关注。日前，华熙生物方面接受证券时报 记者采访，对市场关心的相关问题进行了回应。 证券时报记者：近期，华熙生物先后发文质疑券商热捧重组胶原蛋白并非基于科学逻辑，以及关于重组 胶原蛋白产品有效添加的质疑，提出反对成分"名称游戏"。这一系列举措的根本目的是什么？ 华熙生物：首先，我们认为因为资本市场概念切换带来的关于透明质酸和重组胶原蛋白的误导性认知， 已经远远偏离了科学和产业发展的基本面。如果不加以纠正，不但会影响到华熙生物等一大批企业的经 营环境，也会给以重组胶原蛋白为经营概念的企业带来资源错配和风险。 近几年，基于基因工程表达的重组胶原蛋白获得了快速发展，华熙生物也在从事相关的研究和产业转 化。但有几个基本的事实一直在提醒我们把握好"先行先试"和"全球领先"之间的表述差异：首先，"重 组的"胶原蛋白只是胶原蛋白研究和产业转化当中很小的一个分支，整个蛋白质组学研究，包括胶原蛋 白研究和转化的制高点依然掌握在生命科学研究机构和医药企业，并不掌握在医美或化妆品公司，资本 市场不能不顾这些基本的事实去引导对"全球领先"的错误预期。 其次，以基于重组胶原蛋白的医 ...

你阴阳我「过气」，我锤死你「造假」。 最近，两家先后坐上行业C位的百亿医美巨头，华熙生物和巨子生物，公开互撕半个月，已经打到要决一死战的地步了。 6月5日，发起巨子生物「造假门」的美妆博主郝宇再次发文，驳斥巨子生物最新出具的检测结果，认为其是一份「俄罗斯套娃式」的拼图式嫁接报告，且 没有检测机构的名字和盖章。 截图源微信公众号大嘴博士颜究所 在监管部门发布权威检测报告之前，这场口水仗是很难收场了。 但至少，华熙让巨子也尝到了，自证到崩溃是什么滋味。 这场商战，看似是从5月24日巨子生物的「造假门」发起，但实际上从5月17日华熙生物的公开驳斥文开始，战火就已经点燃了。 复盘一下时间线： 5月17日，华熙生物在官方公众号发文炮轰多家券商机构，认为它们发布的吹捧重组胶原蛋白、唱衰玻尿酸的研报，是在误导市场。 | 截图源华熙生物官方微信公众号 | | --- | 这么多券商，为啥忽然就捧一踩一？ 如果我是华熙生物，我肯定觉得他们背后有人。我甚至能猜出来，那个人是谁—— 这些研报中被吹捧的「重组胶原蛋白」成分代表企业，正是靠重组胶原蛋白一飞冲天的巨子生物。 而被拉踩为「过气」的成分，正是华熙生物赖以起家的玻尿酸。 如果 ...

Core Insights - The medical beauty materials market is entering a competitive phase in 2025, with significant approvals for new materials such as agarose and hydroxyapatite, indicating a growing diversity of products [1][10] - The approval of various injection fillers, including recombinant collagen and animal-derived collagen, highlights the rapid development and commercialization of medical beauty materials [1][4] - Investment in medical beauty materials companies has surged, with 12 companies securing funding in the first five months of 2025, reflecting strong interest from investors [4][5] Regulatory Approvals - Hydroxyapatite received two approvals in 2025, with the first compliant product for medical beauty injections approved in February [10] - Agarose also saw its first approval in January 2025, marking a significant milestone for this material in the domestic market [10] - Over 110 products for medical beauty injections have been approved in China, primarily classified as Class III medical devices [2][4] Market Dynamics - The competition for the first regulatory approval (Class III certificate) is intense, as it provides a significant market advantage [10][12] - Companies are increasingly focusing on developing new materials and applications, with many aiming to secure the first approval in various new material categories [11][12] - The market is characterized by a mix of established companies and startups, all vying for a share of the growing medical beauty sector [15][16] Investment Trends - Notable investments in medical beauty materials companies include significant funding rounds for firms like 聚源生物 and 未名拾光, indicating robust investor confidence [5][6] - The trend of startups receiving funding is expected to continue, as the demand for innovative medical beauty solutions grows [4][5] Product Development - Companies are exploring the combination of different materials to enhance product competitiveness, with a focus on safety and efficacy [14][15] - New materials such as PDRN, silk protein, and chitosan are being investigated for their applications in medical beauty and functional skincare [16][17] - The development of multi-indication products is becoming a strategic focus, with companies aiming to address various aesthetic needs [13][15] Future Outlook - The medical beauty market is anticipated to expand, driven by the introduction of new materials and innovative applications [16][17] - The interplay between medical beauty and skincare sectors is expected to create a positive feedback loop, enhancing market growth [16][17] - Ultimately, the success of new materials will depend on their clinical validation and real-world application, as safety and effectiveness remain paramount [16][17]

长江商报消息 ●长江商报记者 汪静 "成分之争"的风波演变成两大医美巨头间的攻防战，华熙生物（688363.SH）与巨子生物（02367.HK） 之争逐渐白热化。在这背后，"玻尿酸女王"赵燕的焦虑已跃然纸上。 同处医美行业，华熙生物与巨子生物的核心产品重组胶原蛋白与玻尿酸均为具有填充、修复功能的生物 材料。过去，凭借着玻尿酸这一明星成分，华熙生物赢得了业绩与股价的双丰收，也将创始人赵燕送上 了山东女首富的宝座。 随着重组胶原蛋白等新型成分的崛起，华熙生物遭到了上市以来最严峻的挑战——2024年营收同比下滑 11.61%至53.71亿元，净利润骤降70.59%至1.74亿元，核心业务板块收入锐减32.68%。而2024年，医美 新贵巨子生物的营收约55.39亿元，净利润约20.62亿元，双双大幅增长。 "我们正在经历的不是市场周期的简单波动，而是一场关乎企业生存逻辑的深刻变革。"在华熙生物2024 年财报发布后的董事会上，赵燕的发言掷地有声。 赵燕出生于1966年，毕业于华东师范大学生物系，毕业后曾留校担任助教。1988年，海南建省的浪潮 中，赵燕感到机遇来临，于是辞去教职，与其他三名想要创业的大学老师凑了50 ...

Group 1: New Consumption Trends - The rise of new consumption reflects a shift from traditional asset accumulation to emotional and personalized experiences, driven by generational changes in consumer preferences [2][4] - The "self-pleasing consumption" initiative in Shanghai emphasizes the importance of emotional value over basic functionality, indicating a significant change in consumer behavior [2] - Companies like Guangbo Co. and Mixue Ice City are leveraging flexible supply chains and rapid product iterations to capture growth in the new consumption sector [2] Group 2: Key Investment Themes in Technology - The commercialization of IP and the trend of "潮玩" (trendy toys) highlight the potential of emotional connections and cultural recognition in driving consumer engagement, with companies like Pop Mart and Aofei Entertainment leading the way [4] - The integration of traditional culture with modern design is revitalizing industries such as gold jewelry, with brands like Lao Pu Gold and Lao Feng Xiang achieving significant premium pricing through cultural and design attributes [4] - The pet economy is expanding due to changing family structures and increasing single populations, with companies like Zhongchong Co. and Petty Co. capitalizing on this trend [4] Group 3: Technological Advancements and Market Opportunities - The importance of domestic technology capabilities is underscored by the rise of Huawei's Ascend ecosystem, which is crucial for building a self-sufficient digital infrastructure [7] - The Chinese consumer electronics industry is positioned for growth, driven by a large affluent and middle-class population with strong purchasing power for innovative products [7] - The demand for computing power is surging due to advancements in AI and big data, creating opportunities in data centers and cloud services, with companies like Taicheng Light and Shenghong Co. playing significant roles [7]

Group 1 - The latest research published in the journal "Cell" identifies the decline of extracellular matrix (ECM) as the 13th hallmark of aging, highlighting hyaluronic acid (HA) as a key regulator of ECM dynamics [1] - High molecular weight hyaluronic acid can regulate fibroblast activity and drive collagen regeneration through CD44 receptor signaling pathways, restoring the viscoelasticity of ECM [1] - The perception of hyaluronic acid is shifting from a mere "filler material" to a "systemic anti-aging agent," potentially transforming its market valuation logic [1] Group 2 - Chinese companies hold a leading position in the global hyaluronic acid industry, accounting for 82% of the global raw material market sales as of 2021 [2] - Huaxi Biological achieved a breakthrough in enzymatic cutting technology in 2011, allowing for precise control over the molecular weight and end groups of hyaluronic acid, which has advanced research in various fields [2] - The Chinese hyaluronic acid raw material market was valued at approximately 4.71 billion yuan in 2023, with a year-on-year growth of 9.0%, and is expected to reach hundreds of billions by 2025 with a compound annual growth rate exceeding 20% [2] Group 3 - Future innovations in the hyaluronic acid industry are expected to be driven by a combination of technology, application scenarios, and policies, positioning Chinese companies to lead globally [3]

Core Viewpoint - The controversy surrounding ergothioneine, a compound linked to anti-aging, has intensified following accusations of it being a "fake drug" due to lack of sufficient evidence for its approval as a medicine. Companies like Kelun Pharmaceutical and its subsidiary have defended ergothioneine's classification as a health management tool rather than a drug, citing international studies that support its potential benefits [1][2][4]. Industry Overview - The global market for ergothioneine is projected to exceed $810.4 million by 2027, with a compound annual growth rate (CAGR) of 36.17% from 2021 to 2027. The raw material market for ergothioneine is also expected to grow from $6.3 million in 2024 to $16.1 million by 2031 [1]. - Companies such as Huaxi Biological and Chuaning Biological are accelerating their production capabilities through synthetic biology to meet the rising demand for high-purity ergothioneine [2][8]. Product Positioning and Pricing - Ergothioneine is marketed as a dietary supplement rather than a drug, with Kelun's product priced at 1499 yuan for 60 capsules, while competitors like Jinsan Biological offer similar products at 539 yuan. Kelun justifies its pricing based on Japanese market standards and production costs [4][5]. - The compound is recognized as a fifth-generation antioxidant and is used in both topical and oral applications, often combined with other ingredients like hyaluronic acid and collagen peptides [3][6]. Scientific Research and Development - Despite claims of ergothioneine's anti-aging effects, there are gaps in scientific understanding regarding its mechanisms and clinical validation. Research indicates that while ergothioneine shows promise, further studies are needed to explore its effects and applications in medicine [2][8]. - Companies are investing in research to better understand ergothioneine's potential, with Huaxi Biological planning to invest 1.35 million yuan in related projects [7]. Production and Supply Chain - The production of ergothioneine has historically faced challenges due to low yields from natural sources, but advancements in synthetic biology are enabling domestic companies to increase production capacity. For instance, Chuaning Biological plans to establish a facility capable of producing 0.5 tons of ergothioneine annually [6][8]. - The majority of ergothioneine is produced through microbial fermentation or enzyme catalysis, with domestic firms achieving over 99% purity in their products [8].

Core Viewpoint - The ongoing dispute regarding the ingredient content of collagen protein products between companies is highlighted, with Huaxi Biological opposing the notion of "name games" in the industry [1] Group 1: Company Responses - Juzhi Biological disclosed testing results from four different institutions, all indicating ingredient content greater than 0.1%, while denying any allegations of "false advertising" [1] - Huaxi Biological emphasized the need for collaboration among testing institutions, professionals, and media to ensure industry safety and prosperity, criticizing the manipulation of standards by certain companies and scholars [1] Group 2: Industry Concerns - The statement from Huaxi Biological pointed out that the safety of the industry is compromised when individual companies and biased scholars manipulate discussions to create standards that benefit a few at the expense of overall industry development [1] - The company warned against using "standard disputes" and "business wars" to obscure fundamental product safety and value commitments [1]