Core Viewpoint - Shandong Anhua Biological Pharmaceutical Co., Ltd. has announced a new company charter as part of its transition from a private to a public company on the New Third Board, indicating its successful completion of the listing review process [1][3]. Group 1: Company Overview - Anhua Biological, established in 2010, focuses on the research and production of bioactive substances, raw materials, medical aesthetics, and functional skincare products, holding 44 domestic and international patents [5][12]. - The company has developed proprietary technologies such as ProEnzy® for ultra-low molecular weight hyaluronic acid and Waterble® for microbial fermentation [5]. Group 2: Financial Performance - Revenue figures for Anhua Biological from 2022 to May 2024 show an increase from 78.80 million yuan to 98.09 million yuan, but net profit has declined from 17.02 million yuan to a loss of 1.58 million yuan [8][9]. - The revenue breakdown indicates a gradual decrease in the proportion of income from raw materials, with a shift towards functional skincare and medical terminal products [10][12]. Group 3: Market Position and Strategy - Anhua Biological maintains key partnerships with leading cosmetic companies like Proya, with significant revenue contributions from these collaborations [9][12]. - The company aims to leverage its new public status to enhance market influence and pursue further growth opportunities, potentially targeting higher-tier capital markets in the future [17]. Group 4: Historical Context - This is not Anhua Biological's first attempt at public listing; it previously listed on the New Third Board in 2015 but withdrew in 2021 due to unfavorable trading conditions [13][15]. - The company has undergone capital restructuring and partnerships to strengthen its market position, indicating a strategic pivot towards public financing for future expansion [16].

Core Viewpoint - Since 2023, Huaxi Bio has faced significant challenges but showed signs of recovery in the second quarter of 2025, indicating a potential return to growth driven by internal reforms initiated by Chairman Zhao Yan [3][4][20]. Financial Performance - In the first half of 2025, Huaxi Bio reported total revenue of 2.261 billion, a year-on-year decrease of 19.57%, and a net profit attributable to shareholders of 221 million, down 35.38% [7][9]. - In the second quarter of 2025, the company achieved revenue of 1.183 billion, a decrease of 18.44% year-on-year, but net profit increased by 20.89% to 119 million, marking a significant turnaround [8][10]. Operational Changes - Zhao Yan's return to frontline operations in March 2025 marked a pivotal moment for the company, leading to a series of organizational reforms aimed at enhancing efficiency and reducing bureaucratic inertia [13][15][20]. - The company shifted its marketing strategy from price promotions to a more scientific and content-driven approach, significantly reducing sales expenses by 31.44% [10][19]. Research and Development - R&D expenses increased by 15.25% year-on-year, reaching 231 million, which accounted for 10.22% of total revenue, reflecting a strategic focus on core research areas [29][30]. - The company optimized over 30% of its R&D projects, leading to the launch of six new raw materials and the recognition of its technology on an international level [30][31]. Market Position and Strategy - Huaxi Bio's core business segments, including raw materials and medical terminals, remain strong, with a combined revenue share of 57.5% [24]. - The company is focusing on deep breakthroughs in R&D, particularly in extracellular matrix and cellular communication, to address aging and tissue regeneration [28][32]. Future Outlook - The company is well-positioned to benefit from the recovery of the cosmetics market in 2025, particularly in the functional skincare segment, aligning its reforms with market trends [33]. - Huaxi Bio's strategic shift towards a more integrated approach in manufacturing and branding is expected to enhance its long-term growth potential [33].