Core Viewpoint - The article discusses the conflict between Huaxi Biological and several brokerage firms regarding the comparison of hyaluronic acid and recombinant collagen protein, with Huaxi asserting that the notion of hyaluronic acid being outdated is misleading and driven by "restless capital" [1][7]. Company Overview - Huaxi Biological specializes in hyaluronic acid-related products and has faced significant stock price and market capitalization declines since reaching a peak in July 2021, with its stock price dropping from 313.1 yuan to 52.61 yuan as of May 21, 2023, resulting in a market cap reduction from over 1500 billion yuan to 253 billion yuan [2][8]. - The company has reported continuous revenue declines, with revenues of 60.76 billion yuan and 53.71 billion yuan for 2023 and 2024, respectively, representing year-on-year decreases of 4.45% and 11.61% [10]. Industry Dynamics - The market has seen a shift in focus towards recombinant collagen protein, with companies like Juzhi Biological and Jinbo Biological experiencing significant stock price increases and revenue growth, contrasting with Huaxi's struggles [2][13]. - The recombinant collagen protein market in China is projected to grow at a compound annual growth rate of 44.93%, reaching 585.7 billion yuan by 2025 [7]. Performance Comparison - Juzhi Biological's revenues for 2022, 2023, and 2024 were 23.75 billion yuan, 35.26 billion yuan, and 55.39 billion yuan, respectively, with year-on-year growth rates around 50% [13]. - Jinbo Biological's revenues during the same period were 3.9 billion yuan, 7.8 billion yuan, and 14.43 billion yuan, with growth rates of 67.15%, 99.97%, and 84.92% [13]. Regulatory and Market Response - Huaxi Biological has reported the brokerage firms to the China Securities Regulatory Commission for allegedly misleading reports that could distort market perceptions [1][3]. - The company has emphasized the need for a healthy industry ecosystem and has engaged with industry associations to advocate for a return to scientific principles in the market [5][7].
炮轰券商、剑指巨子生物,华熙生物“左右开弓”为哪般?