Core Viewpoint - The popular brand "Mian Mima" sanitary napkins is facing health concerns due to high levels of thiourea detected in multiple batches of its products, raising questions about consumer safety and regulatory compliance [1][5][24]. Group 1: Product and Brand Overview - "Mian Mima" was founded by popular livestreamer Xin Ba in 2017 and has reportedly achieved cumulative sales of 3.33 billion yuan over eight years [3][21]. - The brand claims to use tea polyphenol chips in its sanitary napkins, marketed for their antioxidant properties [1][3]. Group 2: Detection of Thiourea - Multiple batches of "Mian Mima" sanitary napkins, including the tea oxygen series, have been found to contain thiourea, with one sample showing a concentration as high as 16,653.4679 μg/g [1][3][5]. - A report indicated that 7 out of 10 samples tested positive for thiourea, with levels ranging from 3,732.2022 μg/g to 6,210.3620 μg/g [3][14]. Group 3: Health Implications - Thiourea is classified as a hazardous chemical and a potential carcinogen, with long-term exposure linked to various health risks, including thyroid dysfunction and reproductive toxicity [5][6][11]. - Consumer feedback has revealed a concerning number of health issues, including thyroid cancer and other related symptoms, among users of "Mian Mima" products [9][10]. Group 4: Regulatory and Industry Context - The sanitary napkin industry lacks specific regulations for the components used in sanitary napkin chips, creating a regulatory gray area [21][24]. - The new national standard for disposable sanitary products, effective July 1, 2024, aims to clarify regulations regarding additives, including prohibiting substances like thiourea [24][25].

Core Viewpoint - Toxin Pharmaceutical (301089.SZ) announced an investment of 10 million yuan in Jiangsu Jinsan Biotechnology Co., Ltd., acquiring a 1.75% stake, aiming to leverage its technological advantages in the field of chemical and synthetic biology [1] Group 1: Investment Details - The investment consists of 223,400 yuan added to registered capital, with the remainder allocated to capital reserves [1] - Following the investment, Toxin Pharmaceutical will hold a direct stake of 1.75% in Jinsan Biotechnology [1] Group 2: Company Overview - Jinsan Biotechnology specializes in the research, production, and sales of synthetic biological products, focusing on the development and industrial application of ergothioneine [1] - The company has achieved breakthroughs in the entire chain of technology, including strain construction, fermentation, purification, and engineering-scale production of high-purity ergothioneine [1] Group 3: Market Potential - The market for ergothioneine terminal products in China is projected to reach 1.57 billion yuan by 2024, with 60% used in skincare and nearly 30% in health food [3] - The global ergothioneine raw material market is expected to grow from 6.3 million USD in 2024 to 16.1 million USD by 2031, with a CAGR exceeding 14% [3] Group 4: Controversies - Ergothioneine has faced controversies, including claims by a prominent biologist labeling it as a "fake drug," which has been disputed by related companies citing scientific backing [4]

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