Hua Er Jie Jian Wen·2025-07-21 11:54Core Viewpoint - The dispute over the agency rights for the "Youthful Needle" AestheFill has escalated, with Jiangsu Wuzhong's subsidiary receiving a termination notice from REGEN, which will revoke its exclusive distribution rights in mainland China [1][2]. Group 1: Company Impact - Jiangsu Wuzhong's subsidiary, Datou Medical, received a termination letter from REGEN, which will withdraw all related authorizations for AestheFill's exclusive distribution in mainland China [1]. - AestheFill generated revenue of 326 million yuan within six months of its launch in April 2024, contributing to Jiangsu Wuzhong's turnaround with a net profit of 70 million yuan last year [1]. - The revenue for AestheFill reached 113 million yuan in the first quarter of this year, highlighting its significance for Jiangsu Wuzhong, which is already facing challenges due to previous financial misreporting [1]. Group 2: Market Dynamics - The announcement from Jiangsu Wuzhong on July 17 claimed that the medical beauty business was operating normally and that the change in registration agent would not affect the exclusive agency rights, only to be contradicted by the termination notice from REGEN the following day [2]. - The change of the registration agent from Datou Medical to Lizhen Biotechnology, a company controlled by REGEN, suggests prior negotiations that Jiangsu Wuzhong did not disclose, raising questions about their information disclosure practices [3]. - The market for "Youthful Needles" is becoming increasingly competitive, with multiple approvals for similar products from various companies, including four new products approved in less than seven months this year [7][8].