Core Viewpoint - The company has received approval from the National Medical Products Administration for its self-developed "Recombinant Type I α1 Collagen Freeze-Dried Fiber," marking a significant advancement in the medical aesthetics sector and enhancing its competitive position in the market [1]. Industry Summary - The market for recombinant collagen in China is projected to reach 54.7 billion yuan by 2025, with the medical aesthetics segment expected to grow to 7 billion yuan, driven by high biocompatibility and low allergenic risk [2]. - The company is positioned as the second domestic entity to receive approval for recombinant collagen, allowing it to benefit from industry expansion [2]. Company Summary - The company's recombinant collagen product is designed to improve skin structure and reduce dynamic wrinkles, showcasing its technological advantages and creating a barrier to entry for competitors [1]. - Despite short-term sales fluctuations in skincare products due to reduced collaborations, the company maintains strong brand recognition and product efficacy, with expectations for recovery through optimized channel structures and scientific marketing [2]. - The company plans to expand the application of recombinant collagen beyond skincare and medical aesthetics to include hair growth and whitening, while also exploring international market opportunities [2]. - Revenue forecasts for 2025-2027 have been adjusted to 6.917 billion, 8.540 billion, and 10.419 billion yuan respectively, with net profits projected at 2.452 billion, 2.989 billion, and 3.603 billion yuan [2].
巨子生物(2367.HK)点评：成功获批重组胶原三类械 医美与护肤品共振打开长期空间