Core Viewpoint - The company "可复美" (Kefumei) strongly denies allegations regarding the lack of recombinant collagen protein in its products, asserting compliance with relevant regulations and standards [1][2][3]. Group 1: Company Response to Allegations - Kefumei refutes claims of serious fraud and emphasizes that all product development and production adhere to the "Cosmetics Supervision and Administration Regulations" and related laws [1]. - The company confirms that all products undergo a three-tier verification system, including raw material checks, production quality control, and finished product testing, ensuring product safety and reliability [1]. - Initial internal testing showed collagen protein content exceeding 0.1%, contradicting the alleged 0.0177% [1][2]. Group 2: Regulatory Compliance and Standards - According to the National Medical Products Administration's "Cosmetics Labeling Management Measures," ingredients must be listed in descending order based on their content, with those below 0.1% labeled as "other trace ingredients" [2]. - The product in question has a soluble collagen content greater than 0.1%, thus it is listed as a main ingredient, further disputing the claims of low content [2]. Group 3: Third-Party Testing and Industry Standards - To address consumer concerns, Kefumei has engaged multiple authoritative third-party testing agencies to conduct further testing, which will be reported once available [3]. - The company notes that the testing methods used by the accusers are not recognized by industry standards, rendering their results unreliable [3]. - The National Medical Products Administration is working on establishing industry standards for recombinant collagen protein testing, and Kefumei is actively participating in this initiative [3]. Group 4: Company Performance - Kefumei, a brand under the publicly listed company 巨子生物 (Giant Bio), reported sales revenue exceeding 4.5 billion yuan, marking a 62.9% year-on-year increase [4]. - As of May 23, the market capitalization of Giant Bio exceeded 80 billion Hong Kong dollars [4].

Core Viewpoint - The skincare brand Kefu Mei, under Giant Biological, strongly denies allegations of false advertising regarding the content of recombinant collagen in its products, asserting that the claims made by a beauty blogger are unfounded and based on non-standard testing methods [2][3][6]. Group 1: Allegations and Responses - A beauty blogger named "Big Mouth Doctor" accused Kefu Mei of having only 0.0177% of recombinant collagen in its product, which should theoretically be above 0.1% for non-trace ingredients, questioning the product's compliance with regulations [3][10]. - Kefu Mei responded by stating that their products undergo a three-tier verification system for quality control, ensuring no ingredient fraud or concealment occurs [6][9]. - The company presented its own testing results showing collagen content between 0.27% and 0.28%, contradicting the blogger's claims [6][7]. Group 2: Industry Standards and Legal Actions - Kefu Mei highlighted that there are currently no industry or national standards for the content of recombinant collagen, and the blogger's testing methods are not recognized by industry standards [8][9]. - The company plans to initiate legal action against the blogger for defamation, asserting that the allegations challenge the authority of regulatory bodies [9][10]. Group 3: Company Performance and Market Context - Giant Biological has experienced significant growth, with 2024 revenues reaching 5.54 billion yuan, a 57.2% increase year-on-year, and net profits of 2.06 billion yuan, up 42.4% [10]. - Kefu Mei's contribution to revenue exceeds 80%, with a year-on-year growth of 62.9%, positioning Giant Biological as one of the fastest-growing companies in the domestic beauty industry [10].

Core Viewpoint - The article discusses allegations against Juzhi Biotechnology regarding potential falsification of collagen content in their product, specifically the "Human-Like Recombinant Collagen" serum, following a social media post by a blogger who claims to have conducted tests revealing significantly lower collagen levels than stated on the product label [1][2]. Group 1: Allegations and Testing - A social media influencer conducted tests using high-precision HPLC methods and reported that the detected collagen content was only 0.0177%, which raises questions about the accuracy of the product's ingredient label [1][2]. - The blogger highlighted that the product's ingredient list includes "soluble collagen" as a primary component, which should be above 0.1% according to cosmetic labeling regulations, yet the test results suggest otherwise [2]. - The absence of glycine, a key amino acid in collagen, in the test results further supports the allegations of misrepresentation [2]. Group 2: Company Response - Juzhi Biotechnology's brand, Kefu Mei, issued a statement claiming that multiple tests conducted in accordance with industry standards showed collagen content exceeding 0.1%, with specific results of 0.27%, 0.27%, and 0.28% from samples taken on May 24 [5][8]. - The company criticized the blogger's testing methods as not being recognized by industry standards and stated that the blogger did not request the original collagen material for testing [9]. - Kefu Mei announced plans to engage multiple authoritative third-party testing agencies for further verification of their products [9]. Group 3: Background and Market Position - Juzhi Biotechnology, known for its brands Kefu Mei and Keli Jin, has become the largest beauty and skincare company in Hong Kong by market capitalization, reaching HKD 82.1 billion as of May 23 [13]. - The company reported a revenue of CNY 5.539 billion for 2024, reflecting a year-on-year growth of 57.17%, with a net profit of CNY 2.062 billion, up 42.06% [15]. - The founder of Juzhi Biotechnology recently became the richest person in Shaanxi province, with a stock value exceeding CNY 450 billion [15].

Core Viewpoint - A social media influencer raised concerns about potential fraud by Juzhi Biotechnology regarding their collagen product, claiming that the detected collagen content was significantly lower than what was stated on the product label [2][3]. Group 1: Detection and Analysis - The influencer utilized high-precision HPLC amino acid quantification methods to test the collagen product, revealing that the detected collagen content was only 0.0177%, which is below the expected threshold of 0.1% for non-trace ingredients [2][3]. - The influencer's analysis indicated that glycine, a key component of collagen, was not detected in the sample, contradicting established knowledge that glycine constitutes one-third of collagen's amino acid residues [3]. Group 2: Company Response - In response to the allegations, Juzhi Biotechnology's brand Kefu Mei stated that their own testing showed collagen content exceeding 0.1%, with results of 0.27%, 0.27%, and 0.28% from multiple samples taken on May 24 [4]. - The company criticized the influencer's testing methods as not being recognized by industry standards and claimed that the influencer did not request the original collagen material for testing [4]. Group 3: Regulatory Context - A consumer previously reported adverse effects after using a product from Juzhi Biotechnology, leading to a separate investigation regarding the presence of epidermal growth factor (EGF), which is prohibited in cosmetics [4][5]. - The Shaanxi Provincial Drug Administration conducted inspections and found no evidence of EGF in the products, concluding that the company did not engage in illegal practices regarding EGF [5].

Core Viewpoint - The company, Giant Biological, has issued a strong statement denying allegations of product fraud related to its brand, Kefu Mei, specifically regarding the collagen content in its products. The company asserts that all products comply with regulatory standards and have undergone rigorous testing to ensure quality and safety [4][8]. Group 1: Company Response - Giant Biological firmly rejects accusations of serious fraud and insists that all product formulations are accurately labeled and compliant with relevant regulations [4][6]. - The company conducted multiple tests on its products, confirming that the collagen content exceeds 0.1%, contradicting claims of a mere 0.0177% [5][6]. - A detailed report of the testing results shows collagen content in various batches of the product, with values ranging from 0.27% to 0.28% [5]. Group 2: Allegations and Background - The controversy began when a social media account, "Big Mouth Doctor Yan Research Institute," published an article questioning the authenticity of Giant Biological's collagen products, claiming they lacked essential amino acids [9][10]. - The article's author, who claims to be a PhD from the University of Hong Kong, used high-precision HPLC methods to assert that the collagen content was significantly lower than advertised [10][14]. - The allegations have sparked widespread industry attention and concern regarding the integrity of the collagen market [9][10]. Group 3: Financial Performance - Giant Biological reported a revenue of 5.539 billion yuan for 2024, marking a year-on-year increase of 57.17%, with a net profit of 2.062 billion yuan, up 42.06% [25]. - The company's revenue is primarily driven by its professional skincare and health food segments, with its two main brands, Kefu Mei and Keli Jin, generating over 50 billion yuan, accounting for 97.2% of total revenue [25]. Group 4: Market Impact - Following the allegations, Giant Biological's stock price fell by 5.72%, with a market capitalization of 821.38 billion HKD as of May 23 [26].

深圳商报·读创客户端记者 涂竞玉 5月22日，平安健康医疗科技有限公司与深圳市高和医药贸易有限公司（以下简称"高和医药"）就可复 美品牌合作事宜达成战略合作。此次合作标志着平安健康在医疗健康器械领域的战略布局迈入全新阶 段，双方将携手可复美，推动重组胶原蛋白及相关产品的创新应用，为用户提供丰富、便利、智能以及 更加高效的健康管理解决方案。 据悉，凭借丰富的医疗健康养老服务支付方资源、广泛的服务供应商网络、完善的服务标准体系、强大 的生态资源等核心竞争优势，深耕"家庭医生""养老管家"两大核心枢纽建设，平安健康现已成为国内领 先的医疗健康养老管理服务商。此次与高和医药的合作，平安健康将进一步完善其在医疗健康器械领域 的布局，推动消费医疗类器械产品在商保场景下的运用，为用户带来更优质的产品体验。 作为巨子生物旗下核心品牌，自2011年创立以来，可复美一直以重组胶原蛋白为核心技术成分，以解决 敏感、皮炎痤疮、美容项目后护理等皮肤问题为导向，专注于皮肤科学护理研究。从一贴重组胶原蛋白 敷料开始，可复美已从医疗器械延伸至功效护肤品领域，逐渐走进消费者日常生活中，被更多人所知晓 和喜爱。 高和医药作为可复美零售药店渠道全 ...

Core Viewpoint - The recent discussions surrounding hyaluronic acid and recombinant collagen in the medical beauty industry have intensified, particularly following Huaxi Biological's publications defending hyaluronic acid's relevance and efficacy over recombinant collagen [1][4][5]. Group 1: Company Response and Market Dynamics - Huaxi Biological has issued statements refuting claims that hyaluronic acid is outdated, emphasizing the importance of both hyaluronic acid and collagen in skin health, and their interdependent roles in extracellular matrix (ECM) function [4][5]. - The company highlighted that it holds the highest number of approved Class III medical device certifications for hyaluronic acid products, asserting that there is no evidence to suggest that recombinant collagen is safer than hyaluronic acid [5]. - The shift in market focus from hyaluronic acid to recombinant collagen has led to a decline in the stock prices and performance of traditional hyaluronic acid companies, while recombinant collagen firms have seen significant gains [6]. Group 2: Financial Performance - Huaxi Biological reported a revenue decline of 11.61% year-on-year, with total revenue of approximately 5.371 billion yuan and a net profit drop of 70.59%, amounting to about 174 million yuan for 2024 [6][7]. - The company’s medical beauty segment showed positive growth, with raw material business revenue increasing by 9.47% to 1.236 billion yuan, while the medical terminal business grew by 32.03% to 1.44 billion yuan [7]. - The significant decline in overall performance was attributed to challenges in the consumer goods segment, which faced intensified competition and strategic adjustments, resulting in a 31.62% revenue drop to 2.569 billion yuan [7]. Group 3: Management Changes and Corporate Governance - In response to internal issues, Huaxi Biological has initiated a major management reform, focusing on addressing corruption and improving corporate governance, with a strict deadline for employees to report any misconduct [9][10]. - The company has undergone significant personnel changes, including the retirement of senior executives and the appointment of new management to align with strategic development needs [10]. - The management reform aims to correct previous lax practices and establish a more robust operational framework for long-term growth [9].

Core Viewpoint - Furuida has established itself as a leader in the hyaluronic acid industry in China, breaking foreign monopolies and achieving significant success across various sectors including pharmaceuticals, cosmetics, and food, with over 70% of global hyaluronic acid raw materials sourced from China [1][2][3]. Group 1: Hyaluronic Acid Industry - Furuida pioneered the industrial-scale production of hyaluronic acid through microbial fermentation, reducing costs by 90% compared to traditional animal extraction methods [2]. - The company has developed a complete industrial chain around hyaluronic acid, including raw materials, pharmaceuticals, cosmetics, functional foods, and medical devices, supported by multiple national and provincial research platforms [3][4]. - Furuida's innovative products, such as various patented hyaluronic acid formulations, have made it a dominant player in the cosmetics and medical aesthetics sectors, with a notable market presence in China [4]. Group 2: Collagen and Future Growth - Furuida is expanding into the recombinant collagen market, launching its first medical aesthetics brand, Kemi, and investing significantly in production capabilities [5][6]. - The company emphasizes the complementary relationship between hyaluronic acid and collagen, positioning the combination as a solution for long-lasting anti-aging needs [6][7]. - Furuida has rapidly advanced its recombinant collagen technology, achieving medical-grade certifications and developing multiple collagen products, with ongoing research into high-value medical devices [7][8]. Group 3: Innovation and Market Position - Furuida's growth story exemplifies how technological innovation can reshape industry dynamics, transitioning from a focus on hyaluronic acid to establishing a foothold in the recombinant collagen sector [8]. - The company aims to leverage its technological advancements and ecosystem approach to navigate the global health and beauty market, setting a precedent for other Chinese enterprises [8].

Group 1 - Ping An Health Medical Technology Co., Ltd. has entered into a strategic cooperation with Shenzhen Gaohe Pharmaceutical Trading Co., Ltd. regarding the Kefu Mei brand, marking a new phase in its strategic layout in the medical health equipment sector [1][3] - The collaboration aims to innovate the application of recombinant collagen and related products, providing users with rich, convenient, intelligent, and more efficient health management solutions [1][3] - Ping An Health has established itself as a leading provider of medical health and elderly care management services in China, leveraging its extensive resources and service networks [3][4] Group 2 - Kefu Mei, a core brand under Juzhi Biotechnology, has focused on recombinant collagen since its establishment in 2011, addressing skin issues such as sensitivity, dermatitis, acne, and post-beauty care [3] - Gaohe Pharmaceutical, as the national general distributor for Kefu Mei retail pharmacy channels, has gained significant market recognition through four years of operation [3][4] - The partnership will explore innovative applications of recombinant collagen in health management, disease prevention, and medical rehabilitation, aiming to provide more precise and efficient solutions for users [3][4] Group 3 - The collaboration is seen as a significant milestone in Ping An Health's brand strategy for medical equipment, integrating Gaohe Pharmaceutical's terminal capabilities, Kefu Mei's technological advantages, and Ping An Health's resource platform [4] - Both companies express their commitment to enhancing consumer health solutions and contributing to the improvement of public health levels [4]

Core Viewpoint - Marubi Biotech's 2024 ESG report highlights its innovative practices and commitment to sustainable development, despite facing challenges in R&D investment and governance issues [5][6][7]. Environmental Aspects - Marubi Biotech was recognized as a "Green Factory" in Guangdong Province, implementing measures like rooftop solar power and green methanol to reduce carbon emissions [5]. - The company completed carbon footprint assessments for three flagship products and achieved carbon neutrality for its products in 2023 through carbon credit purchases [5]. Social Responsibility - The company focuses on biotechnology, establishing a national research center for recombinant functional protein technology and leading the development of industry standards for soluble collagen [5]. Corporate Governance - In 2024, Marubi Biotech distributed cash dividends of 309 million yuan, with cumulative dividends since listing accounting for 99.03% of net financing [6]. - The company maintains a 100% compliance rate in information disclosure and enhances communication through performance briefings and investor hotlines [6]. R&D and Marketing Controversy - Marubi Biotech faces criticism for prioritizing marketing over R&D, with R&D expenses of 74 million yuan in 2024, significantly lower than sales expenses of 1.635 billion yuan, resulting in an R&D-to-revenue ratio of only 2.48% [7][8]. - The company has heavily invested in advertising, successfully targeting Gen Z consumers through collaborations with celebrities and social media marketing [7]. Claims of R&D Investment - The company claims to have achieved a record high in R&D investment, adding 44 new patents and participating in the formulation of 76 industry standards [10]. - Marubi emphasizes its "full-chain R&D system" in its ESG report, although some of its core products are produced through external ODM partnerships, raising questions about its self-reliance [14][16]. Leadership and Market Confidence - The company's founder, Sun Huaqing, defended the marketing strategy as essential for brand development, stating that a 2% R&D investment is already high for the industry [8]. - Recent leadership changes and a planned stock reduction by the founder have raised concerns about the company's technological credibility and market confidence [18].