反腐！炮轰！正名！华熙生物在焦虑什么？

Core Viewpoint - The recent discussions surrounding hyaluronic acid and recombinant collagen in the medical beauty industry have intensified, particularly following Huaxi Biological's publications defending hyaluronic acid's relevance and efficacy over recombinant collagen [1][4][5]. Group 1: Company Response and Market Dynamics - Huaxi Biological has issued statements refuting claims that hyaluronic acid is outdated, emphasizing the importance of both hyaluronic acid and collagen in skin health, and their interdependent roles in extracellular matrix (ECM) function [4][5]. - The company highlighted that it holds the highest number of approved Class III medical device certifications for hyaluronic acid products, asserting that there is no evidence to suggest that recombinant collagen is safer than hyaluronic acid [5]. - The shift in market focus from hyaluronic acid to recombinant collagen has led to a decline in the stock prices and performance of traditional hyaluronic acid companies, while recombinant collagen firms have seen significant gains [6]. Group 2: Financial Performance - Huaxi Biological reported a revenue decline of 11.61% year-on-year, with total revenue of approximately 5.371 billion yuan and a net profit drop of 70.59%, amounting to about 174 million yuan for 2024 [6][7]. - The company’s medical beauty segment showed positive growth, with raw material business revenue increasing by 9.47% to 1.236 billion yuan, while the medical terminal business grew by 32.03% to 1.44 billion yuan [7]. - The significant decline in overall performance was attributed to challenges in the consumer goods segment, which faced intensified competition and strategic adjustments, resulting in a 31.62% revenue drop to 2.569 billion yuan [7]. Group 3: Management Changes and Corporate Governance - In response to internal issues, Huaxi Biological has initiated a major management reform, focusing on addressing corruption and improving corporate governance, with a strict deadline for employees to report any misconduct [9][10]. - The company has undergone significant personnel changes, including the retirement of senior executives and the appointment of new management to align with strategic development needs [10]. - The management reform aims to correct previous lax practices and establish a more robust operational framework for long-term growth [9].