Core Viewpoint - The article discusses the controversy surrounding Giant Bio (巨子生物) and its flagship product, Kefu Mei (可复美), which has been accused of potential fraud regarding its collagen content, leading to a crisis of trust among investors and consumers [1][4]. Group 1: Controversy and Market Impact - On May 24, a report from "Dr. Yan's Research Institute" claimed that Kefu Mei's collagen content was undetectable, raising questions about the company's credibility and regulatory compliance [1][4]. - Following the allegations, Giant Bio's stock price fell over 10% on May 26, closing at 73.6 HKD per share, with a total market capitalization of 788.19 billion HKD [4]. - Other companies in the collagen market, such as Jinbo Bio (锦波生物), Marubi (丸美生物), and Furuida (福瑞达), also experienced stock price declines amid the controversy [4]. Group 2: Product and Testing Disputes - The report highlighted three main issues with Kefu Mei: the claimed collagen content was only 0.0177%, below the regulatory threshold of 0.1%, and the absence of glycine, a key amino acid in collagen [9][11]. - Giant Bio defended its product, stating that it complies with national standards and has undergone multiple testing phases to ensure quality [11]. - The lack of standardized testing methods for collagen products in China has been identified as a significant issue, leading to discrepancies in test results from different institutions [12]. Group 3: Industry Context and Growth Potential - The collagen market in China reached 192.4 billion CNY in 2022, with a projected compound annual growth rate of 44.93%, expected to reach 585.7 billion CNY by 2025 [20]. - Companies like Jinbo Bio and Marubi are actively developing their collagen products, with Jinbo Bio reporting a revenue increase of 84.92% in 2024 [20][21]. - The article emphasizes the need for a scientific testing framework and transparent regulatory oversight to address the ongoing challenges in the collagen industry [17][22].
测不到胶原？医美龙头被质疑造假风波发酵，今日股价一度重挫10%