Core Viewpoint - The controversy surrounding the skincare brand Kefu Mei, owned by Giant Bio (02367.HK), involves allegations of containing the banned ingredient EGF (Epidermal Growth Factor), leading to consumer complaints and regulatory scrutiny [2][3][6]. Company Overview - Giant Bio was established in 2000 and went public on the Hong Kong Stock Exchange in 2022. The company owns multiple brands, including Kefu Mei, Keli Jin, and Xin Gan [6]. - In 2024, the company reported a revenue increase of 57.2% to 5.539 billion yuan, with a net profit growth of 42.1% to 2.062 billion yuan. The gross margin decreased from 83.6% in 2023 to 82.1% [6]. Regulatory Actions - The Shaanxi Provincial Drug Administration conducted inspections in March and April 2024 and found no evidence of EGF being added during the production process, leading to a decision not to file a case [2][3]. - A follow-up inspection in April 2025 also did not reveal any violations regarding the addition of EGF. The agency employed liquid chromatography-mass spectrometry (LC-MS) for testing multiple batches of the product, which also did not detect EGF [3]. Product Safety and Compliance - The National Medical Products Administration stated in 2019 that EGF cannot be used as a cosmetic ingredient, and any product claiming to contain EGF is considered illegal. EGF is primarily used in medical fields for treating burns and wounds [6]. - The controversy began when a consumer reported adverse effects after using Kefu Mei's "Recombinant Collagen Repair Dressing (G-type)" and later found EGF in the product through independent testing [2].
巨子生物旗下可复美检出违禁成分？陕西省药监局通报