Core Viewpoint - The company is undergoing a strategic upgrade focusing on glycoscience and cell biology, leveraging its advantages in synthetic biology for health solutions [6] Financial Performance - Total revenue for 2024 is approximately 5.37 billion, a decrease of 11.61% compared to 2023 [2] - Net profit attributable to shareholders is about 174 million, down 70.59% from the previous year [2] - Net profit after deducting non-recurring gains and losses is approximately 107 million, a decline of 78.13% year-on-year [2] - Operating cash flow for the year is around 564 million, a decrease of 19.32% from 2023 [2] - The company's net assets at the end of 2024 are approximately 6.81 billion, a decrease of 1.93% compared to the end of 2023 [2] Profit Distribution - The company plans to distribute a cash dividend of 0.11 yuan per 10 shares (including tax) [3] R&D Investment - Total R&D investment is approximately 466 million, representing an increase of 1.33 percentage points in relation to total revenue [4] Business Operations - Revenue from raw materials is approximately 1.24 billion, showing a year-on-year growth of 9.47% [5] - Medical terminal business revenue is about 1.44 billion, an increase of 32.03% [11] - Revenue from skin science innovation transformation business is approximately 2.57 billion, down 31.62% year-on-year [11] - Basic earnings per share are 0.36 yuan, a decrease of 70.73% compared to the previous year [5] Strategic Focus - The company is focusing on management transformation, including business process restructuring, organizational and talent changes, and performance system reforms [6] - The company aims to continue technological innovation and optimize its business structure to enhance operational efficiency and achieve high-quality development [6] Market Position - The company is a leading player in the global hyaluronic acid market, with significant presence in Europe, Japan, and the Americas [13] - The company is transitioning from rapid growth to high-quality development, increasing investments in synthetic biology and regenerative medicine [13]

Core Viewpoint - The company, Huaxi Biological Technology Co., Ltd., reported a decline in revenue and net profit for the year 2024, prompting inquiries from the Shanghai Stock Exchange regarding its business performance and strategic adjustments [1]. Group 1: Business Performance - In 2024, the company's revenue was 5.371 billion yuan, a year-on-year decrease of 11.61%, with net profit falling to 174 million yuan, down 70.59% [1]. - The decline in revenue was attributed to a drop in functional skincare product sales, increased operating expenses, and asset impairment losses [1]. - The company maintained its R&D investment at 466 million yuan, consistent with the previous year, indicating a focus on strategic innovation and technology-driven brand development [1]. Group 2: Revenue Breakdown - The company reported a significant increase in overseas raw material business revenue, reaching 608 million yuan, with a year-on-year growth of 2.61% domestically and 17.60% internationally [2][3]. - The overseas revenue growth was driven by increased purchases from existing clients and a 13% rise in the number of overseas clients, contributing 48.5 million yuan in revenue [3]. - The company’s brands, Huaxi and Furst, target different market segments, with Furst focusing on cost-effective raw materials while Huaxi aims at high-value end products [3]. Group 3: Medical Terminal Business Growth - The medical terminal business saw a substantial increase, with total revenue reaching 1.44 billion yuan, a 32.03% increase from the previous year [4]. - Skin-related medical products generated 1.073 billion yuan, up 43.57%, with specific products like the micro-crosslinked "Renzhi Doll Needle" seeing over 100% growth [4][5]. - The company has established a comprehensive sales network covering 31 provinces and over 7,000 partner institutions, with direct sales accounting for over 75% of total sales in 2024 [6]. Group 4: Strategic Adjustments - The company is undergoing a third strategic upgrade, focusing on sugar biology and cell biology, leveraging its strengths in synthetic biology and biomanufacturing [12][13]. - The business model is built on three core capabilities: R&D innovation, results conversion, and market transformation, enabling comprehensive service offerings to global enterprises and consumers [13]. - The company aims to enhance its product, channel, organization, and brand strategies to align with its long-term goals in the life sciences sector [12][13].

Group 1 - The latest research published in the journal "Cell" identifies the decline of extracellular matrix (ECM) as the 13th hallmark of aging, highlighting hyaluronic acid (HA) as a key regulator of ECM dynamics [1] - High molecular weight hyaluronic acid can regulate fibroblast activity and drive collagen regeneration through CD44 receptor signaling pathways, restoring the viscoelasticity of ECM [1] - The perception of hyaluronic acid is shifting from a mere "filler material" to a "systemic anti-aging agent," potentially transforming its market valuation logic [1] Group 2 - Chinese companies hold a leading position in the global hyaluronic acid industry, accounting for 82% of the global raw material market sales as of 2021 [2] - Huaxi Biological achieved a breakthrough in enzymatic cutting technology in 2011, allowing for precise control over the molecular weight and end groups of hyaluronic acid, which has advanced research in various fields [2] - The Chinese hyaluronic acid raw material market was valued at approximately 4.71 billion yuan in 2023, with a year-on-year growth of 9.0%, and is expected to reach hundreds of billions by 2025 with a compound annual growth rate exceeding 20% [2] Group 3 - Future innovations in the hyaluronic acid industry are expected to be driven by a combination of technology, application scenarios, and policies, positioning Chinese companies to lead globally [3]

Core Viewpoint - Huaxi Biological refutes the notion that hyaluronic acid is outdated, emphasizing its leading position in the global market and the importance of scientific integrity in the industry [2][4][7] Group 1: Company Response - Huaxi Biological published an article titled "Concepts Always Reappear, Technology Always Moves Forward" to counter the claims made by several brokerage reports that suggest hyaluronic acid is no longer relevant [2][6] - The company asserts that hyaluronic acid is a key life science material and has been subjected to unfounded criticism, which it aims to correct as an industry leader [3][4] - Huaxi Biological's statement received support from the China Fragrance and Cosmetic Industry Association and the China Aesthetic Medicine Association, highlighting a collective industry stance [3][4] Group 2: Scientific Basis and Product Strategy - The company clarifies that its chairman previously questioned the effectiveness of topical recombinant collagen products, but this was specifically aimed at exaggerated claims regarding their efficacy [6][7] - Huaxi Biological maintains that its strategic focus remains on the development of hyaluronic acid and its applications in various health-related fields, rather than shifting to recombinant collagen as a mainstream technology [7] - The company emphasizes that current scientific evidence does not support recombinant collagen's superiority in managing aging compared to hyaluronic acid [7]

证券代码：688363 证券简称：华熙生物 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 登录新浪财经APP 搜索【信披】查看更多考评等级 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一) 主要会计数据和财务指标 单位：元 币种：人民币 (二) 非经常性损益项目和金额 √适用 □不适用 单位:元 币种:人民币 基于以上判断，公司做出了如下部署： 第一，报告期内公司董事长兼总经理开始下沉管理，直接接手管理品牌与传播管理中心、BM肌活、米 蓓尔品牌，聚焦维护企业品牌，并率先在BM肌活和米蓓尔品牌实施基于全球大组学研发前沿的技术和 品牌定位。同时，暂停了过去基于折扣促销逻辑开展的低效投放活动，重新建立基于科技实力和AI辅 助认知的品牌内容体系 ...

近期，美国在全世界挥舞着关税大棒成为全球资本市场的焦点话题。在这一背景下，华熙生物的2024年 财报不仅关乎企业自身的发展轨迹，更成为观察中国生物科技企业在全球产业链中地位与韧性的重要窗 口。尽管财报数据显示公司业绩短期承压，但深入剖析其战略布局与科技投入，我们不难发现，华熙生 物正以一种更具前瞻性和战略定力的姿态，稳步迈向从"玻尿酸龙头"到"生命科学解决方案商"的华丽转 身，其在糖生物学与再生医学领域的深耕，更是为全球生物科技产业贡献了"中国方案"的新思路。 短期波动： 行业转型期的"成长之痛" 在全球经济风云变幻、国内消费市场深度调整的大背景下，华熙生物2024年财报数据的波动引发广泛关 注。财报数据显示，2024年华熙生物实现营业收入53.71亿元，同比下降11.61%；归属于上市公司股东的 净利润为1.74 亿元，下降70.59%。但拨开数据表象，深入探寻公司战略布局、行业发展趋势以及跨行业 创新融合的脉络，就会发现，这一短期波动实则是行业发展周期与企业自身战略转型叠加的必然结果。 当下，生命科学关联产业，如美妆护肤、医美等细分赛道，正经历从增量扩张向存量博弈的关键转变。 以功能性护肤品市场为例，全球 ...

Core Viewpoint - Huaxi Biological is undergoing a deep transformation in brand positioning and team philosophy, facing performance pressures while revealing new growth opportunities through foundational scientific research [1] Group 1: Financial Performance - In the 2024 financial report, Huaxi Biological reported a revenue decline of 11.61% to 5.371 billion yuan and a net profit decrease of 70.59% to 174 million yuan [2] - The company is currently in a crisis not solely due to performance decline but due to organizational entropy exceeding acceptable limits, necessitating significant internal restructuring [2] - Management changes, including organizational upgrades and a new compensation system, have incurred costs exceeding 70 million yuan, impacting short-term profits [2] Group 2: Strategic Investments - The company is increasing long-term strategic investments, including supply chain improvements and production efficiency enhancements, with related expenses exceeding 100 million yuan [3] - Continuous investment in forward-looking research and development is being made, focusing on emerging business areas such as regenerative medicine and nutritional science, with strategic innovation investments exceeding 100 million yuan [3] Group 3: Business Line Adjustments - The "Functional Skincare Business" has been rebranded as "Skin Science Innovation Transformation Business," which saw a revenue decline of 31.62% to 2.569 billion yuan, accounting for nearly 50% of main business revenue [4] - The company is restructuring brand positioning and scientific foundations for various brands, emphasizing a focus on scientific validation and team capability adjustments [4] Group 4: Growth Engines - The Nutritional Science Innovation Transformation Business (formerly Functional Food Business) experienced a significant revenue increase of 40.97% [5] - The medical terminal business grew over 30%, generating approximately 1.44 billion yuan, with skin-related medical products revenue reaching 1.073 billion yuan, a 43.57% increase [5] Group 5: Research Focus - Huaxi Biological is concentrating on foundational research in glycoscience and cell biology, aiming to translate scientific innovations into consumer-grade solutions [6][7] - The company has expanded the application of hyaluronic acid into new fields such as tissue engineering and targeted drug delivery, with ongoing research into the signaling mechanisms of glycan substances [9] Group 6: Future Directions - The company is committed to exploring aging intervention and regenerative medicine, with a focus on developing animal-free, serum-free cell culture media expected to launch in the second half of the year [16] - Huaxi Biological plans to leverage its research capabilities to create customized skincare products, with over 108 customization options validated scientifically [15]