来源：滚动播报 （来源：北京商报） 收购、投资，欧莱雅正在用一切可行的办法扩大版图，抢占市场份额。近日，欧莱雅官方发布消息称， 从由EQT牵头的财团手中收购高德美额外10%的股权。在更早的10月，欧莱雅刚刚斥资40亿欧元拿下开 云集团多个奢侈品品牌美妆授权；11月，欧莱雅再投国产护肤品牌LAN兰……这背后或许是欧莱雅正 在面临的增长放缓现实情况。 增资高德美 此次交易完成后，欧莱雅对高德美的持股比例将增至20%。早在2024年底，欧莱雅收购了高德美10%的 股权。欧莱雅官方披露的信息中，并没有透露此次增持的具体金额。不过欧莱雅方面透露，鉴于投资增 加，高德美董事会将考虑从2026年年度股东大会起，提名2名来自欧莱雅的非独立董事候选人，以取代 由EQT领导的财团。 高德美是一家专业的皮肤科学公司，专注于护肤品和医美赛道。2024年3月，高德美在瑞士证券交易所 正式敲钟上市。目前，高德美的业务领域包括注射美学、皮肤护理和皮肤治疗三个板块，旗下品牌组合 包括瑞蓝、吉适、Azzalure等注射美学品牌，丝塔芙和Alastin等日常护肤品牌，以及Soolantra、 Epiduo、达芙文等皮肤治疗品牌，公司业务遍及约9 ...

FLEER CA 本 20 HELENA RUBINSTEIN 增资高德美 收购、投资，欧莱雅正在用一切可行的办法扩大版图，抢占市场份额。近日，欧莱雅官方发布消息称，从由EQT牵头的财团手中收购高德美额外10%的股 权。在更早的10月，欧莱雅刚刚斥资40亿欧元拿下开云集团多个奢侈品品牌美妆授权；11月，欧莱雅再投国产护肤品牌LAN兰……这背后或许是欧莱雅正 在面临的增长放缓现实情况。 此次交易完成后，欧莱雅对高德美的持股比例将增至20%。早在2024年底，欧莱雅收购了高德美10%的股权。欧莱雅官方披露的信息中，并没有透露此次增 持的具体金额。不过欧莱雅方面透露，鉴于投资增加，高德美董事会将考虑从2026年年度股东大会起，提名2名来自欧莱雅的非独立董事候选人，以取代由 EQT领导的财团。 欧莱雅看中的不只是医美赛道。近年来，欧莱雅正在构建足够涵盖高奢、大众、护肤、美发等全场景的美妆体系。不论是对医美赛道的势在必得，还是对高 奢美妆的加持，以及对中国更具发展潜力的护肤品牌的投资，都在推动欧莱雅向更丰富的阵容、更完整的版图挺进。 今年10月，欧莱雅宣布与开云集团在高端美容与健康领域建立长期战略合作关系，涉及收购Cr ...

Core Insights - Northeast Pharmaceutical, a subsidiary of Liaoning Fangda Group, is focusing on expanding its business in the pharmaceutical and health sectors through three key initiatives: drug research and innovation, development of health food products, and entry into the beauty industry with functional skincare products [2][3]. Group 1: Pharmaceutical Innovation - The company views research and innovation as its "lifeline" and has established a robust R&D system, successfully launching over 20 new raw materials and formulations in recent years [3]. - The recent approval of the DC-TY0801 injection for clinical trials marks a significant advancement in the company's oncology treatment portfolio, specifically targeting EGFRvIII positive recurrent or progressive high-grade glioma [3]. - The company is also expanding its pipeline with multiple tumor-targeted cell therapy products, enhancing its capabilities in the healthcare service sector [3]. Group 2: Health Food Development - Northeast Pharmaceutical is tapping into the health food market by launching a series of health-oriented biscuits, including products made from traditional Chinese medicinal ingredients [4]. - The biscuits are developed in collaboration with local universities, ensuring adherence to national food safety standards and scientific formulation [4][5]. - The product line includes various flavors designed to meet different health needs, showcasing the integration of traditional health concepts with modern food technology [4][5]. Group 3: Expansion into Beauty Industry - The company has launched a functional skincare brand, "Qifangyuan," which combines pharmaceutical standards with skincare innovation [6]. - The skincare products are developed using pharmaceutical-grade raw materials and undergo rigorous safety and efficacy testing [6]. - This move is part of a broader strategy to diversify and meet the growing demand for comprehensive health services, leveraging the company's expertise in pharmaceuticals [6].

Core Insights - The company reported a revenue of 1.3 billion yuan for Q1-Q3 2025, a year-on-year decline of 11.5%, and a net profit attributable to shareholders of 330 million yuan, down 36.7% year-on-year [1] - In Q3 alone, the company achieved a revenue of 430 million yuan, a decrease of 17.6% year-on-year, with a net profit of 95.39 million yuan, down 45% year-on-year [2] Financial Performance - The gross profit margin decreased by 1.7 percentage points to 80.4% year-on-year [2] - The sales expense ratio increased by 10 percentage points to 46.3% year-on-year [2] - The management expense ratio rose by 2 percentage points to 5.4% year-on-year [2] - Financial surplus narrowed by 2.4 percentage points due to reduced interest income during the reporting period [2] Product and Channel Strategy - The company focuses on balanced development in medical devices and functional skincare products, launching various new products such as whitening masks and anti-wrinkle masks [2] - The company emphasizes coordinated development of online and offline channels, actively exploring new online platforms and optimizing offline distribution models [2] - Continuous investment in research and development is being made to lay a foundation for long-term growth [2] Investment Outlook - The company is undergoing business adjustments and increasing R&D investments, particularly in Class II and III medical devices [3] - The focus is on expanding the product line and advancing the development of skin improvement and injection filling medical devices [3] - Future revenue and profitability stabilization is anticipated with the formation of core product repurchase and the gradual establishment of e-commerce channel methodologies [3] - Expected EPS for 2025-2027 is projected to be 0.83, 0.89, and 0.94 yuan per share, maintaining a "buy" rating [3]

Core Insights - The company reported a revenue of 807 million yuan and a net profit of 33.78 million yuan for Q3 2025, with a total revenue of 2.597 billion yuan and a net profit of 142 million yuan for the first nine months of 2025 [1] - The cosmetics segment generated a revenue of 1.569 billion yuan with a gross margin of 61.24%, while the medical segment achieved a revenue of 305 million yuan with a gross margin of 52.27% [1][2] - The company’s brand, Kemi, received a certification as the "global pioneer in transdermal collagen skincare products," marking a significant innovation in the beauty industry [2] Company Performance - For the cosmetics segment, the brand Yilian achieved a revenue of 786 million yuan, a year-on-year increase of 19.50%, while the brand Aierbo achieved a revenue of 646 million yuan [1] - Kemi brand showed rapid growth with a revenue of 77.19 million yuan, experiencing a quarter-on-quarter growth of 82% in Q2 and 138% in Q3 [1] - The pharmaceutical segment has developed over 200 new clients, expanding its reach in hospitals and OTC channels, and launched seven new health products during the reporting period [2] Industry Trends - The rise of domestic brands and the trend towards functional skincare are creating a favorable environment for the company, which is leveraging its dual technology engines of hyaluronic acid and collagen [3] - The company is enhancing its channel optimization and focusing on high cost-performance positioning, which is expected to drive sustained growth [3] - The significant increase in GMV on Douyin by 210% and the accumulation of 3.8 million private domain followers are amplifying the company's technological conversion efficiency [3]

Core Viewpoint - The article discusses the significant investment by Zhong Shanshan in Jinbo Biological, a company specializing in recombinant collagen products, highlighting the potential for growth in the medical beauty industry and the strategic collaboration between the two entities [4][6][12]. Group 1: Investment Details - Jinbo Biological announced two transactions, including introducing Yangshengtang as a strategic investor, with a total transaction amount reaching 3.4 billion yuan [5][8]. - The strategic investment involves issuing up to 7.1757 million shares, representing 6.24% of the pre-issue total share capital, aiming to raise no more than 2 billion yuan [8]. - Yang Xia, the founder of Jinbo Biological, transferred 5.7533 million shares to Hangzhou Jiushi at a price of 243.84 yuan per share, totaling 1.403 billion yuan [9][10]. Group 2: Company Background - Jinbo Biological, founded by Yang Xia, focuses on recombinant human collagen products and has achieved a market value of 40 billion yuan [6][18]. - The company has developed a range of products, including recombinant type III collagen, which has been widely adopted in medical and cosmetic applications [22][23]. - Jinbo Biological's revenue for 2024 is projected to be 1.443 billion yuan, reflecting a year-on-year growth of 84.92%, with a net profit of 732 million yuan, marking an increase of over 140% [23]. Group 3: Market Dynamics - The medical beauty industry, particularly the recombinant collagen segment, is experiencing rapid growth, with high consumer interest and significant market potential [26][30]. - The article notes that the pursuit of beauty is a strong driver for repeat purchases, making this sector highly lucrative [30]. - Jinbo Biological's products have gained popularity, with its core product, the injectable recombinant type III collagen, being used in over 4,000 medical institutions [23][24].

Core Viewpoint - Ju宜 Group has officially signed an acquisition agreement with the dermatological skincare brand 百植萃, aiming to strengthen its position in the scientific skincare sector [1][9]. Company Overview - 百植萃 was established in 2012, focusing on providing safe and effective skincare solutions for problematic and sensitive skin, with a product line that includes soothing, barrier repair, anti-aging, and whitening [3]. - The brand's best-selling product is the 小绿瓶精华, priced at 198 yuan for 30ml, 288 yuan for 50ml, and 458 yuan for 80ml, with previous prices being significantly higher [3]. Leadership and Expertise - The brand's product development has been led by renowned dermatologist 李远宏, who has contributed to the formulation of all products and has internationally recognized research achievements [7]. - 李远宏 will continue as Chief Product Officer post-acquisition, overseeing the entire product development process from consumer insights to clinical validation [9]. Market Position and Strategy - Ju宜 Group sees long-term growth potential in the "medical-research integration" skincare sector, which addresses real pain points for different skin types and represents a significant direction for skincare consumption upgrades [9]. - The acquisition is viewed as a strategic move to fill gaps in the skincare market and enhance Ju宜 Group's portfolio, following its previous acquisition of the high-end hair care brand馥绿德雅 [9]. Financial Performance - Ju宜 Group reported a revenue of 3.5 billion yuan in 2024, marking a 36% year-on-year growth, and has maintained double-digit growth for several consecutive years [11]. - The acquisition of 百植萃 is interpreted as a step towards seeking a larger premium space in the market, especially as the functional skincare market becomes increasingly competitive among major beauty brands [11]. Industry Trends - The functional skincare market is becoming a battleground for beauty giants, with companies like L'Oréal and Estée Lauder increasing their investments in this area [11]. - Recent acquisitions in the sector, such as L'Oréal's purchase of Medik8, highlight the trend of integrating scientific research into skincare product development [11].

Core Insights - The acquisition of Baizhichui by Juyi Group marks a significant step in the company's strategy to expand into the scientific skincare sector, enhancing its multi-brand and multi-category beauty matrix [1][4] - The global functional skincare market is experiencing intense competition, with both international giants and local brands accelerating their presence in this lucrative segment [6][7] Company Overview - Juyi Group, established in 2016 and headquartered in Shanghai, owns two major color cosmetics brands, Judydoll and Jooycee, and has a partnership with Pierre Fabre Laboratories for the René Furterer brand in China [4] - The group reported a retail revenue exceeding 4.2 billion yuan and an income of 3.5 billion yuan in 2024, reflecting a year-on-year growth of 36% [4] Acquisition Details - Baizhichui, founded in 2012 and part of Meiji Biotechnology (Shanghai) Co., focuses on providing solutions for problematic and sensitive skin, emphasizing a "plant + technology" research approach [4][5] - Post-acquisition, Professor Li Yuanhong will continue as Chief Product Officer, overseeing the entire product development process, while co-founder and CEO Sun Hui will serve as a lifetime honorary advisor [5] Market Trends - The global professional skincare market reached a size of $35.77 billion in 2022, with projections to exceed $77.51 billion by 2030, reflecting a compound annual growth rate (CAGR) of 9.9% [6] - In China, the functional skincare sector saw a CAGR of 36.7% from 2017 to 2021, with a market size of approximately 46.43 billion yuan in 2022, marking a year-on-year growth of 22.9% [6] Competitive Landscape - Major global beauty companies like L'Oréal and Estée Lauder are increasingly investing in functional skincare through acquisitions and partnerships, indicating a strategic shift towards professional medical beauty [7][8] - Local brands such as Winona and Juzi Biotechnology are also capturing market share through differentiated strategies, with Juzi Biotechnology reporting a revenue of 5.539 billion yuan in 2024, a year-on-year increase of 57.2% [8]

Industry Overview - The functional skincare market has become a dominant segment within the broader skincare industry, driven by increasing consumer awareness of skin issues and ingredient research [3][5] - Functional skincare products are designed for individuals with specific skin concerns, including whitening, anti-aging, sun protection, and hydration, often containing medicinal ingredients [1][5] Market Growth - The global functional skincare market is projected to grow from $35.3 billion in 2016 to $168 billion by 2024, while the Chinese market is expected to increase from 7.42 billion yuan to 48 billion yuan in the same period [5] - The demand for functional skincare products is fueled by the rise of ingredient-conscious consumers, sensitive skin populations, and post-aesthetic treatment recovery needs [3][5] Product Categories - Functional skincare products encompass three main categories: dermatological skincare, efficacy-driven skincare, and medical-grade skincare, with "pharmaceutical cosmetics" falling under dermatological skincare [5] - Professional skincare products are further divided into patch-based and non-patch-based forms, with patch-based products, such as masks, projected to grow from 2.38 billion yuan in 2017 to 19.34 billion yuan by 2024 [5] Industry Leaders - Companies like Huaxi Biological, Beitaini, and Juzhi Biological are recognized as industry leaders, driving development through innovation [9] Consumer Trends - The evolution of functional skincare reflects a dual pursuit of beauty and health, highlighting a growing consumer awareness of personal skincare needs [11]