或许你已经发现，走进家里小区楼下的药店，第一眼看到的可能不是药品，而是薇诺娜、可复 美、绽妍等品牌的护肤产品，这一幕正悄然成为中国药店的"新常态"。 近日，福瑞达生物公布了年内覆盖1 0个千万级OTC连锁的大计划。无独有偶，百雀羚也于年 初宣布正式入驻北京同仁堂渠道。随着线上红利逐渐见顶，不少品牌开始瞄准线下OTC专业渠 道掘金。 《FBe a u t y未来迹》经过调研发现，美妆在OTC渠道的生意，比起未开发的蓝海，更像是一支 蓄势待发的弓箭。在已经跑出薇诺娜这个十亿级销售规模美妆品牌的情况下，依旧还有巨大的 想象空间。 OTC渠道可以说是目前在线下分布最广的一类渠道，正如居民楼附近不一定会有化妆品店，但 一定会有药店，而这不是错觉。 根据薇诺娜母公司贝泰妮集团发布的2 0 2 4年上半年财报，OTC分销渠道销售模式实现营业收 入人民币3 5 , 4 7 0 . 1 4万元，约占主营业务收入1 2 . 7 1%，同比增长约2 0 . 0 1%。 按照这一增速， 薇诺娜在OTC的年销售规模大概率已经迈过1 0亿门槛。 据公开资料，薇诺娜从2 0 1 6年开始与连锁药房合作，彼时市场体量只有5 0万左右；8年后 ...

Core Viewpoint - The article discusses the internal turmoil and strategic challenges faced by Huaxi Biological, particularly in light of its declining performance and the need for significant internal reforms to address corruption and strategic misalignment [3][4][5]. Group 1: Internal Challenges and Strategic Issues - Huaxi Biological's CEO Zhao Yan issued an ultimatum for employees involved in corruption to resign by March 31, indicating a critical need for internal restructuring [3]. - The company is experiencing a significant decline in revenue and profits, with a reported drop of over 70% in profits for 2024, highlighting the urgency of the situation [3][4]. - The internal issues are compounded by strategic missteps, particularly the failure to adapt to market changes and the overproduction of hyaluronic acid, leading to an oversupply situation [9][15]. Group 2: Market Dynamics and Competitive Landscape - The hyaluronic acid market has shifted from a scarcity to an oversupply, with average prices dropping from 210 RMB per gram in 2017 to 124 RMB in 2021, a decline of 41% [9]. - New competitors in the collagen market have emerged, capturing consumer interest and market share, which has further pressured Huaxi Biological's traditional hyaluronic acid business [11][12]. - The company has been slow to diversify into collagen products, missing out on a significant market opportunity that could have alleviated current pressures [12][15]. Group 3: Financial Performance and Cost Management - Huaxi Biological's sales and management expenses have surged from 38.23% in 2018 to 61.72% in 2023, with sales expenses alone increasing from 284 million RMB to 2.842 billion RMB during the same period [27]. - Despite maintaining a high gross margin of around 73%, the net profit margin has plummeted from 33.56% in 2018 to approximately 9.27% in 2024, indicating severe profitability issues [27][28]. - The company's strategy to cut costs and improve profitability through internal reforms may provide short-term relief, but long-term success will depend on genuine operational improvements [29][30].