Core Insights - A competitive landscape is emerging in the functional skincare market, particularly around the "recombinant collagen" segment, involving two prominent female entrepreneurs, Fan Daidi and Yang Xia, who lead their respective companies, Juzhi Biotechnology and Jinbo Biotechnology [1][12] Company Developments - Jinbo Biotechnology has successfully transitioned from a B2B medical device focus to a B2C functional skincare market, as evidenced by its support for the new brand "Tongping" [2][3] - Tongping, launched in September 2024, has quickly gained traction in the market, achieving significant sales during the Double 11 shopping festival, with a GMV exceeding 20 million yuan in its first appearance on Li Jiaqi's livestream [6][11] - Juzhi Biotechnology's stock has faced challenges, hitting a year-low of 40.40 HKD per share, with a total market capitalization dropping to 43.3 billion HKD [2][3] Market Trends - The functional skincare market is witnessing intensified competition, with new brands like Tongping rapidly gaining market share through strategic partnerships with key influencers [4][6] - The sales performance of Tongping's products, particularly those promoted by Li Jiaqi, indicates a strong consumer response, with several SKUs achieving sales exceeding 100,000 units [6][7] - Jinbo Biotechnology's collaboration with Tongping highlights the blurring lines between pharmaceutical and beauty sectors, reflecting a shift in the industry towards comprehensive competitive strategies [12] Financial Movements - Jinbo Biotechnology is in the process of raising capital through a stock issuance, with plans to issue up to 7.18 million shares at a price of 278.72 yuan per share, aiming to raise up to 2 billion yuan [12]
锦波PK巨子：李佳琦直播间“换角”，胶原蛋白龙头暗战C端美妆