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华熙生物暗指巨子生物联合券商散布玻尿酸过时论 重组胶原蛋白赛道高景气仅因“题材幻象”??
Xin Lang Zheng Quan· 2025-05-21 09:07
Core Viewpoint - The article highlights a conflict in the biopharmaceutical industry regarding the competition between hyaluronic acid and recombinant collagen, with Huaxi Biological criticizing the notion that hyaluronic acid is outdated, which they attribute to capital-driven speculation [1][4]. Company Performance - Huaxi Biological's performance has declined significantly, with projected revenue for 2024 expected to decrease by 11.61% and net profit to drop by 70.59%, resulting in a market capitalization loss of over 100 billion [1][6]. - In contrast, Juzhi Biological has experienced substantial growth, with a projected revenue increase of 57.2% and net profit growth of 42.4% for 2024, leading to a doubling of its market capitalization [1][6]. Market Dynamics - The article discusses the contrasting market performances of Huaxi Biological and Juzhi Biological, indicating a clear divide in the industry, with Huaxi's stock price falling over 80% from its peak of 309.43 yuan per share in July 2021 to 53.08 yuan per share as of May 20, 2025, resulting in a market cap of less than 25.6 billion [9][6]. - Juzhi Biological's stock has seen a significant increase, reaching a peak of 86.45 HKD, representing a cumulative rise of over 44% from approximately 60 HKD at the end of 2024 [8][6].
行业点评报告:抗衰领域的科学革命:重新认识透明质酸
KAIYUAN SECURITIES· 2025-05-21 02:35
Investment Rating - The industry investment rating is "Overweight" (看好) [2] Core Insights - The report highlights a scientific revolution in the anti-aging field, emphasizing the role of hyaluronic acid (HA) as a key component in extracellular matrix (ECM) aging intervention [5][6] - Recent studies indicate that high molecular weight HA can extend healthy lifespan in mice, reduce cancer risk, and improve inflammatory responses, suggesting its potential beyond traditional moisturizing [5] - The report notes that the repositioning of HA in the scientific community opens new growth opportunities in the anti-aging market [5] Summary by Sections Industry Overview - The report discusses the transition of anti-aging strategies from local interventions to systemic interventions, marking a new era in anti-aging research [5][6] Company Analysis - Huaxi Biological Technology has positioned itself at the forefront of ECM research, recently obtaining approvals for two Class III medical devices aimed at facial quality improvement [6] - The first product, "Runbaiyan·Glass," utilizes a non-crosslinked HA formula combined with lidocaine, achieving a treatment efficacy rate of 94% with effects lasting over three months [6] - The second product, "Runzhi·Titu," is the first compliant product in China to explicitly target facial quality improvement through kinetic factors, indicating a shift towards cellular-level anti-aging solutions [6] Market Dynamics - Huaxi Biological has undergone multiple industrial revolutions, transitioning from microbial fermentation to precise molecular weight control and exploring synthetic biology for HA production [6] - The company leads the industry with the largest synthetic biology pilot platform and the highest market share in HA and Class III medical device registrations [6] - The report identifies Huaxi Biological and Aimeike as beneficiaries of these advancements in the anti-aging sector [6]
新消费领域牛股频出 “情绪消费”等成投资关键 这些主线值得关注(附概念股)
Zhi Tong Cai Jing· 2025-05-20 23:47
5月20日,大消费主线表现强劲,政策利好与行业景气度共振激发资金热情。消费品以旧换新政策将适 老化与科技产品纳入补贴范围,叠加4月社会消费品零售总额同比增5.1%的复苏信号,推动宠物经济板 块全线爆发,培育钻石、美容护理、珠宝首饰等细分领域同步上扬。此外,今年以来,新消费领域牛股 频出。 近期消费板块迎多项利好。以旧换新政策方面,家电、汽车、家装等耐用品消费直接受益于中央及地方 的以旧换新补贴政策(如最高3.5万元汽车置换补贴),刺激存量市场更新需求。政策范围逐步扩围至智能 家居、绿色家电、数码产品等,推动行业技术升级与渗透率提升。免税方面,海南自贸港政策优化离岛 免税额度(提升至10万元),叠加入境免签政策扩大客源,驱动免税销售额增长。数字化退税流程提升运 营效率,奢侈品消费加速回流至国内市场。 近日,商务部等六部门联合印发《关于组织开展"购在中国"系列活动的通知》,部署各地聚焦首发经 济,围绕四大领域。2025年全国精品首发季暨"首发上海"系列活动日前正式在上海启动,邀请全球游客 打卡首店、观赏首展、欣赏首秀,实地感受中国和上海消费市场的巨大魅力。上海还同步发布了"首发 上海3.0"政策,将试点首发进口消 ...
520,男性开始给自己花钱
3 6 Ke· 2025-05-20 12:01
Group 1: Market Trends - The traditional couple economy is cooling down, with a notable shift towards male consumers focusing on self-investment and personal interests [1][3][14] - Data shows that 30% of men plan to not give gifts during the 2024 "520" period, indicating a significant change in spending behavior [1] - The sales of the domestic game "Black Myth: Wukong" reached 9 billion yuan, primarily driven by male players, reflecting the rise of "self-consumption" among men [1] Group 2: Changing Consumer Behavior - The willingness to engage in romantic relationships among young people is declining, with both genders scoring around 5 out of 10 on their desire for romance [2][3] - The sales of DR diamond rings, once a symbol of true love, have seen a significant decline, with a 36.19% drop in revenue year-on-year [2] - The cinema attendance for romantic films is decreasing, replaced by a demand for family and solo viewing experiences [3] Group 3: Male Consumption Dynamics - Male consumers are increasingly spending on personal grooming and beauty products, with sales in categories like skincare and cosmetics for men reaching 1.86 billion yuan, a 65% increase year-on-year [5] - The male medical beauty market is also growing, with 45% of surveyed men planning to increase their spending on medical aesthetics in 2024 [7] - The average spending of male consumers online has surpassed that of females, reaching 10,025 yuan, with the male consumption market expected to exceed 6 trillion yuan by 2025, growing at a compound annual growth rate of 9.8% [4] Group 4: Marketing and Brand Strategy - Brands need to adapt to the shift from relationship-based consumption to individual needs, focusing on "solitary consumption" [9][10] - Marketing strategies are evolving from emphasizing product functionality to highlighting emotional value and identity recognition [12][13] - The rise of interest-based consumption is evident, with products becoming symbols of social identity, such as the "middle-class three-piece set" [8][12] Group 5: Future Outlook - The transformation in male consumer behavior is indicative of a broader market restructuring, where consumption is increasingly tied to personal meaning rather than mere transactions [14] - The emergence of new markets driven by single economy, technological empowerment, and evolving values is expected to create significant opportunities for brands [14]
华熙生物炮轰华泰证券等“玻尿酸过时论”,回应三大争议焦点
Nan Fang Du Shi Bao· 2025-05-20 11:34
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]
玻尿酸被资本抹黑?昔日千亿医美巨头回应“炮轰券商”事件
Hua Er Jie Jian Wen· 2025-05-20 11:11
玻尿酸巨头华熙生物近期向券商"开炮",揭开了医美行业"热点轮动"的一角! 针对突然向券商"开炮",周二华熙生物对每经作出最新回应,华熙生物表示,透明质酸产业一直希望其 作为行业龙头带头发声,纠正对透明质酸的罔顾科学的踩踏和抹黑。此次发声是基于多重考虑,且已和 两大行业协会沟通并获得支持。 这一回应针对华熙生物5月17日在微信公众号发布的长文,其在文中驳斥了"玻尿酸过时"的观点,并点名 了多家券商炒作"重组胶原蛋白",与玻尿酸进行恶意对比。 "炮轰"的背后隐藏着华熙生物的困境,随着玻尿酸产能过剩价格不断下降,行业竞争也在不断加剧,华 熙生物的业绩已经开始失速,2024年扣非净利缩水78.13%,市值也较巅峰缩水超1000亿。 反观,重组胶原蛋白成为市场的"新宠",行业中巨子生物司股价一路走高,其业绩上完成了对华熙生物 的反超,2024年归母净利润仅为巨子生物净利润的十二分之一左右。 华熙生物发长文"开撕"券商 华熙生物认为,透明质酸"过时论"的兴起,本质上是一场由"浮躁资本"构建的题材幻象,试图用"神话过 时"绕开中国产业发展必然面临的进阶过程,引导资本和市场资源聚焦于资本新题材,用"新贵登场"塑造 沙土高楼。 ...
核心业务持续下滑、信息与预订服务Q1收入-34.1% 新氧盯上医美机构这块“难啃的骨头”?
Xin Lang Zheng Quan· 2025-05-20 08:52
Core Viewpoint - The internet medical beauty platform, Xinyang, is facing significant challenges with its core business underperforming, record-high losses, and frequent attempts at cross-industry transformation failing to reverse its declining performance [1][2]. Financial Performance - In 2024, Xinyang reported a revenue of 1.467 billion yuan, a year-on-year decrease of 2.1%, while the net loss reached 587 million yuan, marking a four-year high in losses [2][3]. - The core business, information and booking services, saw a revenue decline of 19.3% to 929 million yuan in 2024, accounting for 63.4% of total revenue, down from 76.8% in 2023 [3][9]. - In Q1 2025, Xinyang's revenue continued to decline by 6.6% to 297 million yuan, with net losses expanding to 33.1 million yuan [1][8]. Business Challenges - The decline in core business revenue is attributed to two structural issues: decreased platform traffic conversion efficiency and intensified competition from content platforms like Douyin and Xiaohongshu, which have diluted the value of traditional intermediary models [3][9]. - The number of medical service providers subscribing to Xinyang's information services has decreased, contributing to the revenue drop [3]. Diversification Efforts - Xinyang has attempted to diversify its business by investing in medical beauty equipment and establishing its own medical beauty institutions, but these efforts have not significantly improved its financial performance and have instead burdened profitability [7][8]. - The acquisition of Wuhan Qizhi Laser in 2021 and the exclusive agency of ELASTY® Lumilax in 2022 have not yielded substantial revenue growth, with Wuhan Qizhi Laser's revenue only increasing by 0.3% in 2024, while its net profit dropped by 38.81% [7][8]. New Business Initiatives - In November 2024, Xinyang launched a new light medical beauty chain brand, aiming to provide affordable and accessible anti-aging solutions, but this initiative is still in its early stages and has not yet positively impacted overall performance [8]. - Despite the rapid growth of the new light medical beauty chain, with Q1 2025 revenue reaching 98.88 million yuan, a year-on-year increase of 551%, the overall financial situation remains challenging [8].
5月20日连板股分析:连板股晋级率34% 高位股大面积退潮
news flash· 2025-05-20 07:37
5月20日连板股分析:连板股晋级率34% 高位股大面积退潮 | | 九鼎投资 (创投) | | --- | --- | | 其他涨停 | 苏州龙杰8天6板(纺织+军工) | 今日共77股涨停,连板股总数28只,其中三连板及以上个股8只,上一交易日共23只连板股,连板股晋级率34.78%(不含ST股、退市股)。个股方面,全市 场超3800只个股上涨,连续第二个交易日逾百股涨超9%,小盘股备受青睐,北证50、微盘股指数均创历史新高。高位股开始退潮,利君股份、渝三峡A、 红墙股份、尤夫股份等人气股跌停,成飞集成断板,市场连板高度被压缩至4板。板块方面,以谷子经济、宠物经济、医美为代表的新消费板块全天表现强 势,其中郑中设计、丽人丽妆4连板,拉芳家化6天4板,天元宠物20CM2连板;并购重组概念依旧受到热捧,综艺股份5天4板,天汽模3连板,北交所五新 隧装30CM2连板。 | 连板数 | 晋级率 | | 2025-5-20 | | --- | --- | --- | --- | | 3 #4 | 2/2=100% | 郑中设计(城市更新+IP经济) | | | | | 天汽模(并购重组) | | | 2进3 | 6/ ...
华熙生物“炮轰”华泰证券等券商,称产业“遭遇谎言与践踏”
Nan Fang Du Shi Bao· 2025-05-20 07:27
近日,华熙生物(688363.SZ)发布一篇《概念总在重演,科技永远向前》的文章,在文章中称透明质 酸(Hyaluronic Acid, 简称HA)产业"在近几年资本市场的概念切换中遭遇了谎言与践踏"。 华熙生物称,透明质酸被描述为"过时"、"不如某物质安全"、"不如某物质更具生物活性"、"不如某物 质具备市场价值"……这些抹黑与受操控的自媒体及网络上的虚假消费者评论形成共振,严重误导了市 场,破坏着一批中国企业多年建立起的全球产业优势。 同时,华熙生物在文章中"点名"了华泰证券发布的《巨子生物 (2367 HK) 始于胶原,不止胶原》、安信 证券发布的《巨子生物:国货胶原蛋白龙头,妆字号至III类械全方位覆盖》等,此外,西部证券、信达 证券、华福证券、申港证券、平安证券、方正证券等券商均一一被"点名"。 对于上述"点名",一位不愿具名的被"点名"券商内部人士对南都湾财社记者表示:"我们研究所本着审 慎原则,认为不太适合发声。"记者联系华泰证券、西部证券等多家券商,截至发稿暂未获得回应。 列举多家券商研究报告,皆指向巨子生物 在华熙生物为透明质酸产业"正名"的文章中,点名了多家券商发布的研究报告:华泰证券发布 ...
独家|华熙生物回应“点名券商”事件:透明质酸遭踩踏和抹黑,两大协会力挺“科学正名”
Mei Ri Jing Ji Xin Wen· 2025-05-20 06:43
针对突然向券商"开炮",A股医美巨头华熙生物(688363.SH,股价53.21元,市值256.3亿元)作出最新 回应。 今日(5月20日)午间,华熙生物方面向《每日经济新闻》记者发来独家回应。在回应中,华熙生物表 示:"透明质酸是中国在全球占据第一份额的优势产业,涉及到科研、医疗、医美、美妆、营养健康等 多个生命健康的相关领域,因此整个透明质酸产业都一直希望华熙生物作为行业龙头可以带头发声,纠 正近年来针对透明质酸这一生命科学关键物质的罔顾科学的踩踏和抹黑。" 5月19日晚间,华熙生物在其官方微信号发布《概念总在重演,科技永远向前》的文章,对市场上流行 的"玻尿酸过时"的观点,进行了点名驳斥。 《每日经济新闻》记者注意到,华熙生物在文章中点名几家券商机构称,2022年开始,随着资本市场不 断追求新的公司题材,重组胶原蛋白概念被看似幸运地选中了。为了营造比透明质酸产业更大的预期, 围绕某重组胶原企业的研报中,出现了大量直接针对中国透明质酸产业的所谓"对比研究"。 文章称,透明质酸"过时论"的兴起,本质上是一场由"浮躁资本"构建的题材幻象,试图用"神话过时"绕 开中国产业发展必然面临的进阶过程,引导资本和市场资 ...