科技赋能双品牌矩阵，丸美生物加速构建美妆行业竞争护城河

Core Insights - The shift in consumer behavior towards ingredient-focused purchasing in the beauty industry is becoming mainstream, particularly among Generation Z, with over 90% of respondents in a survey indicating that researching materials and ingredients is a wiser choice when buying products [1] - Marubi Biotechnology has submitted its listing application to the Hong Kong Stock Exchange, aiming to become a dual-listed company (A+H), which will enhance its international financing channels and global brand influence [1] Group 1: Company Strategy and Innovation - Marubi Biotechnology focuses on biotechnological advancements in the beauty sector, particularly in anti-aging and skin repair products, establishing an integrated R&D platform from basic research to production [1] - The company has invested over 250 million yuan in R&D since 2022, collaborating with around 30 top global universities and research institutions, and holds 375 authorized patents, leading the Chinese beauty industry in the number of invention patents [2] - Marubi has made significant breakthroughs in recombinant collagen, developing a recombinant double collagen that enhances biological similarity, activity, stability, and scalability in production [2] Group 2: Financial Performance and Market Position - From 2022 to 2024, Marubi's revenue grew from 1.732 billion yuan to 2.97 billion yuan, with a compound annual growth rate (CAGR) of 31%, while net profit increased from 167 million yuan to 342 million yuan, with a CAGR of 43% [4] - The company's online direct sales revenue share surged from 46.4% in 2022 to 74.8% in the first three quarters of 2025, leveraging major e-commerce platforms like Douyin, Tmall, and Kuaishou [4] - Marubi is recognized as the third-largest beauty company in China within the recombinant collagen skincare segment, establishing a strong competitive moat [4]