6月1日深夜，两大生物美妆巨头的隔空声明，将一场潜伏月余的商战彻底点燃。 当晚7:30，华熙生物（688363.SH）发布《关于支持郝宇博士维护消费者权益的声明》，宣布在组织专家验证检测报告真实性后，已启动第三 方复检流程。 作 者丨凌晨 编 辑丨朱益民 "如相关企业无法正视问题，华熙生物将适时向全社会公开检测结果"——这份未点名却锋芒毕现的公告，被市场视为对竞争对手的公开宣战。 当晚10:27，上述声明发布三小时后，巨子生物闪电反击。 其声明披露已收到郝宇（网名"大嘴博士"）委托检测机构的致歉函，该机构声明从未授权郝宇使用检测报告，并勒令其立即停止传播行为。 巨子生物同步启动法律程序，称将追究造谣者责任。 更戏剧性的转折随即而至—— 郝宇通过社交媒体表示，其试图联系检测机构核实情况时，对方已处于"断联状态"。 郝宇发视频称东谱检测相关人员已无法联系（图\郝宇微博截图） 第三方检测机构的突然沉默，使得两份声明陷入无法自证的僵局。 这场始于5月末的检测风波，因郝宇发布的产品检测报告而起。当华熙生物以"支持维权"姿态介入，巨子生物以"法律追责"强硬回击，检测风 波争议正式升级为企业攻防战。 监管介入 5月17日， ...

导读 壹 || 在玻尿酸的应用版图里，医美是重要的一部分。但是追溯起源，随着技术的每一次突 破，玻尿酸就会开辟出新的应用场景，相关产业也随之发展进步。 不论是在产业还是资本市场，造就新高度的玻尿酸，如今是否 已经"过时"？其技术突破和产业化应用还有哪些空间？ 作者：罗文利 封图：视觉中国 贰 || 目前，中国已成为透明质酸第一生产大国。玻尿酸应用场景的丰富和拓展，与该原料技 术突破和成本大幅下降有关。 叁 || 拓展玻尿酸医疗器械更多适应症、开发以玻尿酸为主要成分的化妆品及食品，打造更多 玻尿酸相关产品的使用场景，成为玻尿酸中上游企业的发展路径之一。 5月29日，华熙生物科技股份有限公司（688363.SH，下称"华熙生物"）董事长兼总裁赵燕对经济 观察报称，"保湿"不足以概括透明质酸（玻尿酸）的功能，在医药、医美、护肤品、食品保健等各 个领域，透明质酸还存在巨大的使用蓝海。 就在十余天前， 华熙生物官方发起了一次"玻尿酸保卫战" ，它公开指责部分券商研究报告通过对 比透明质酸与重组胶原蛋白成分，鼓吹"玻尿酸过时论"，误导市场。 华熙生物同时援引《Cell》期刊的文章称，将"细胞外基质（ECM）的变化"列为第 ...

Market Overview - As of 13:59 today, the Shanghai Composite Index stands at 3359.41 points, above the six-month moving average, with a change of 0.36% [1] - The total trading volume of A-shares today is 938.825 billion yuan [1] Stocks Breaking Six-Month Moving Average - A total of 166 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Dahongli (300865) with a deviation rate of 17.40% and a daily increase of 19.98% [1] - Guangshentang (300436) with a deviation rate of 9.85% and a daily increase of 12.37% [1] - Huaxibio (688363) with a deviation rate of 6.23% and a daily increase of 7.12% [1] Stocks with Smaller Deviation Rates - Stocks with smaller deviation rates that have just crossed the six-month moving average include: - Fusenmei (300629) with a deviation rate of 5.78% and a daily increase of 12.98% [1] - Weidao Nano (600037) with a deviation rate of 5.44% and a daily increase of 7.16% [1] - Huaping Co. (603320) with a deviation rate of 5.10% and a daily increase of 7.27% [1]

Market Overview - The Shanghai Composite Index closed at 3363.48 points, above the five-day moving average, with an increase of 0.48% [1] - The total trading volume of A-shares reached 763.885 billion yuan [1] Stock Performance - A total of 929 A-shares broke through the five-day moving average today [1] - Stocks with significant deviation rates include: - Laisai Laser (21.79%) - Kangliyuan (11.86%) - Mankalon (10.78%) [1] Top Stocks by Deviation Rate - Laisai Laser (871263): - Today's change: +30.00% - Turnover rate: 38.87% - Five-day moving average: 19.53 yuan - Latest price: 23.79 yuan - Deviation rate: 21.79% [1] - Kangliyuan (301287): - Today's change: +17.32% - Turnover rate: 32.85% - Five-day moving average: 35.00 yuan - Latest price: 39.15 yuan - Deviation rate: 11.86% [1] - Mankalon (300945): - Today's change: +19.98% - Turnover rate: 18.47% - Five-day moving average: 22.66 yuan - Latest price: 25.10 yuan - Deviation rate: 10.78% [1] Additional Notable Stocks - Beitaini (300957): - Today's change: +11.83% - Turnover rate: 4.22% - Five-day moving average: 45.58 yuan - Latest price: 49.44 yuan - Deviation rate: 8.48% [1] - Jiuling Technology (873305): - Today's change: +10.00% - Turnover rate: 13.81% - Five-day moving average: 42.79 yuan - Latest price: 46.20 yuan - Deviation rate: 7.98% [1]

Core Viewpoint - Hyaluronic acid is not just a moisturizing agent but has vast applications in pharmaceuticals, medical aesthetics, skincare, and health foods, indicating a significant growth potential in various sectors [1][2][4]. Industry Overview - The hyaluronic acid market is primarily dominated by three major companies: Huaxi Biological, Aimeike, and Haohai Biological, collectively referred to as the "big three" in the industry, with market capitalizations exceeding 100 billion yuan for Huaxi Biological and Aimeike at one point [2][3]. - In 2023, China accounted for 84% of the global hyaluronic acid raw material sales, establishing itself as the largest producer, with Shandong province being the key production hub [7][8]. Application Scenarios - Hyaluronic acid is widely used in the medical aesthetics sector, particularly in non-surgical procedures like water light needles and injection fillers, due to its excellent moisture retention and filling properties [3][4]. - The applications of hyaluronic acid have expanded from ophthalmology to include various medical fields, such as joint lubrication, vascular permeability regulation, and wound healing [5][14]. Technological Advancements - Huaxi Biological has significantly improved the production efficiency of hyaluronic acid through microbial fermentation technology, increasing the yield from 3g/L to 12-14g/L and reducing production time from 72 hours to 18 hours [8][13]. - The introduction of cross-linking technology has transformed hyaluronic acid from a liquid to a gel state, extending its metabolic duration in the body and facilitating its use in aesthetic procedures [5][8]. Market Challenges - The industry faces challenges such as overcapacity and price wars due to an influx of competitors, leading to a significant drop in raw material prices from thousands to hundreds of yuan [8][9]. - Major companies have reported varying degrees of performance challenges since 2022, with Huaxi Biological's functional skincare and food businesses experiencing declines [9]. Future Directions - The future of hyaluronic acid lies in expanding its applications in medical devices and developing new products that combine hyaluronic acid with other ingredients for enhanced therapeutic effects [11][12]. - Companies are exploring regenerative capabilities of hyaluronic acid, focusing on its dual functions of filling and regeneration, which could lead to innovative product offerings [12][14].

Market Overview - As of 10:30 AM today, the Shanghai Composite Index stands at 3352.43 points, above the six-month moving average, with a change of 0.15% [1] - The total trading volume of A-shares today is 568.946 billion yuan [1] Stocks Performance - A total of 138 A-shares have surpassed the six-month moving average today, with notable stocks showing significant deviation rates [1] - The stocks with the highest deviation rates include: - Dahongli (300865) with a deviation rate of 17.40%, closing at 27.74 yuan, up 19.98% [1] - Huaxi Biological (688363) with a deviation rate of 6.97%, closing at 54.41 yuan, up 7.87% [1] - *ST Chengchang (001270) with a deviation rate of 5.20%, closing at 36.55 yuan, up 5.00% [1] Additional Stocks with Notable Performance - Other stocks with significant performance include: - Zhejiang Shuwenhua (600633) with a deviation rate of 5.17%, closing at 13.62 yuan, up 5.66% [1] - Gehua Cable (600037) with a deviation rate of 4.76%, closing at 7.73 yuan, up 6.47% [1] - Stocks with smaller deviation rates that have just crossed the six-month line include Aotai Biological, Chitianhua, and Emei Mountain A [1]

Group 1 - The core viewpoint highlights the positive market reaction to the collaboration between Bristol-Myers Squibb and BioNTech regarding the new cancer drug BNT327, with milestone payments potentially reaching $11.1 billion, which has boosted the performance of innovative drug concept stocks [1] - The performance of the Kexin Biopharmaceutical ETF (588250.SH) increased by 1.23%, with its associated index Kexin Biopharmaceutical (000683.SH) rising by 0.96%, indicating a favorable market sentiment towards the biopharmaceutical sector [1] - Notable increases in major component stocks include Microchip Biotech rising by 9.44%, Huaxi Biotech by 7.63%, and Rongchang Biotech by 4.92%, reflecting strong investor interest in innovative drug companies [1] Group 2 - Guosen Securities reported significant advancements in domestic innovative drugs, particularly focusing on bispecific antibodies and ADC technologies, with promising clinical data from Innovent Biologics and Mingji Biotech in pancreatic cancer treatments [2] - Shenwan Hongyuan highlighted Huaxi Biotech as a key player in the recombinant collagen market, benefiting from the domestic beauty trend and strong brand recognition, suggesting potential for consumer recovery [2] - Both research institutions' insights align with the performance of innovative drug and medical beauty leading companies within the Kexin Biopharmaceutical ETF [2]

丨 2025年6月3日 星期二 丨 NO.1 华熙生物、巨子生物舆论风波升级，美妆博主回应：不认可巨子生物的说法 每经记者｜甄素静 每经编辑｜董兴生 近日，浙江海圣医疗器械股份有限公司IPO申请获北交所受理，中信证券担任保荐机构。招股书显示， 海圣医疗专注于麻醉、监护类医疗器械的研发、生产和销售，产品广泛应用于麻醉科、ICU等临床科 室。 点评：海圣医疗冲刺北交所IPO，专注于麻醉监护器械研发等，产品应用于多临床科室，若成功上市， 或将借助资本加速技术创新与市场拓展。 NO.4 和美药业递表港交所 据港交所5月29日披露，赣州和美药业股份有限公司向港交所主板递交上市申请。和美药业于2002年成 立，截至2025年5月21日，和美药业已开发7个小分子候选药物，针对具有高度未满足需求的自身免疫和 肿瘤疾病。其中4种候选药物处于II期、III期临床试验或NDA阶段，适用于12种适应证。 6月1日晚，华熙生物在微信公众号发表长文支持"大嘴博士"（郝宇）。当日深夜，巨子生物在微信公众 号发布了一份声明，称有关"可复美"未添加重组胶原蛋白的争议，5月30日公司收到了来自"大嘴博 士"所用检测机构的道歉声明，并贴出了检验机 ...

每经记者｜林姿辰 陈星 每经编辑｜文多 在华熙生物（SH688363）"炮轰"券商、美妆博主"大嘴博士"（郝宇）质疑巨子生物（HK02367）重组胶原蛋白成分后，在端午假期，两大医美巨头再次发文 喊话，措辞愈发激烈。 图片来源：华熙生物微信公众号文章截图 两家公司的"对线平台"依然是公众号。率先开炮的是华熙生物，6月1日19点30分，华熙生物在微信公众号上发布《关于支持郝宇博士维护消费者权益的声 明》，文章字数超2600个。华熙生物称有一家"擅长网络水军运营"的公司，虽没有点名，却有所指。华熙生物还表示："如相关企业无法正视自身问题，华 熙生物将向全社会公开相关检测结果。" 近3个小时后的22点27分，巨子生物在微信公众号上发文，标题为《巨子接受"大嘴博士"（郝宇）所用检测机构道歉，但将追究造谣者法律责任》，文中贴 上了上海东谱检测技术服务有限公司的声明。巨子生物还在文中斥责："一家上市公司居然堂而皇之地颠倒黑白，恶意指控。" 6月2日，郝宇则回复了《每日经济新闻》记者的采访，他不认同巨子生物发布的上述文章。 明面上，是医美巨头在台前喊话，背后实则牵涉玻尿酸与重组胶原蛋白在医美行业内展开的份额争夺战。比如，《 ...

医美成分争议正不断升级。在华熙生物"炮轰"券商研报，大嘴博士（郝宇）质疑巨子生物产品"测不到胶原"后，6月1日晚间，华熙生物在微信公众号发布 《支持郝宇博士维护消费者权益的声明》，并提及其参与的私募股权投资基金与郝宇共同投资了同一家企业。华熙生物更是在这份声明中暗指巨子生物擅长 网络水军运营，称"如果你们想要一个'商战'，那一定会得一个真正的商战"。在华熙生物上述声明发布后，巨子生物公众号也发布了题为《巨子接受"大嘴博 士"（郝宇）所用检测机构道歉，但将追究造谣者法律责任》的回应。其中提到，维护消费者的利益始终是巨子生物的经营基础，欢迎任何良性有序的竞 争，也必将追究因恶意竞争而做出抹黑行为者的法律责任。 华熙生物发声 6月1日晚间，华熙生物发文称，收到郝宇的求助，提出希望华熙生物提供检测技术资源和研究支持，并协助其与监管部门展开沟通。针对相关要求，华熙生 物组织有关专家评估了郝宇提供的资料，在确认检测报告的真实性后，华熙生物立刻组织了相关产品检测。 据了解，郝宇于5月24日在个人的多个自媒体平台上发布了有关质疑可复美产品"不含胶原蛋白"的信息，其团队经检测，可复美重组胶原蛋白次抛精华液产 品中重组胶原蛋白真 ...