Marubi(SH:603983) Zheng Quan Shi Bao Wang·2025-12-23 12:45Group 1 - The core viewpoint of the articles highlights the increasing competition in the domestic beauty industry, with rising online traffic costs putting pressure on customer acquisition for companies like Marubi Biotechnology Co., Ltd. [1] - Marubi is strategically shifting its resources towards research and development (R&D), indicating a long-term development model driven by core technology [1][2] - The company has significantly increased its R&D investment, with a year-on-year growth of 15.34% in R&D expenses for the first three quarters of 2025, positioning it among the top in the industry [1] Group 2 - Marubi has developed over 80 proprietary ingredients, including recombinant double collagen, with more than 30 achieving large-scale production [1] - The company has filed 651 patents globally, with 375 granted, including 265 invention patents, ranking first among Chinese beauty companies in terms of granted invention patents [1][2] - The name change from "Marubi Co., Ltd." to "Marubi Biotechnology" reflects a strategic repositioning towards being a research-driven enterprise based on biotechnology [2] Group 3 - Marubi aims to establish a dual-core long-term strategy centered on "research" and "brand," focusing on enhancing differentiated R&D capabilities and brand leadership [3] - The ongoing plan for a Hong Kong listing is intended to provide crucial capital support for the company's long-term R&D and global expansion efforts [2][3] - The company's strategy emphasizes converting technological advantages into sustainable market advantages, which will be tested through its R&D and branding initiatives [3]