Core Viewpoint - The stock price of Giant Bio has dropped 19.80% over 7 trading days, resulting in a market value loss of nearly 18 billion HKD due to allegations regarding the collagen content in its skincare products [2] Company Overview - Giant Bio operates in the professional skincare industry based on bioactive ingredients, with its brand "Kefumei" accounting for 87.04% of total revenue in 2024 [2] - The company reported a revenue of 5.539 billion CNY and a net profit of 2.062 billion CNY in its 2024 annual report, with a gross margin of 82.09% [4] Controversy and Response - On May 24, a beauty blogger, "Dr. Big Mouth," questioned the collagen content in Kefumei's core product, claiming it was only 0.0177% and lacked glycine, a key component [2] - Giant Bio responded by stating the allegations were "seriously inaccurate" and provided self-test results showing collagen content exceeding 0.1% [2] - The company has not yet released third-party test results despite claims of having engaged multiple authoritative testing agencies [2] Testing Methods - The blogger's team used high-performance liquid chromatography (HPLC) combined with amino acid quantification, while Giant Bio employed methods from the Chinese Pharmacopoeia and industry standards [3] - The blogger raised concerns about the testing methods used by Giant Bio, suggesting they may lead to inflated results due to the presence of polyglutamic acid [3] Market Impact - Market regulatory authorities are currently investigating the situation, which could negatively affect consumer sentiment and the performance of Kefumei during the upcoming 618 promotional event [4]

Company Overview - Fulejia is a company engaged in the research, production, and sales of professional skin care products, with a strong market recognition and brand influence [5] - The company offers a diverse range of products, including medical devices and functional skin care products, covering various forms such as masks, serums, and lotions [5][6] - Fulejia has established a multi-channel sales strategy, combining online platforms like Tmall and Douyin with offline channels such as medical institutions and retail pharmacies [5][6] Financial Performance - In the reporting period, the company achieved operating revenue of 2,016,975,873.58 yuan, representing a year-on-year increase of 4.32% [6] - The net profit attributable to shareholders was 661,129,436.27 yuan, a decrease of 11.77% year-on-year, primarily due to increased sales promotion expenses [6] Business Model - The company employs a "sales-driven production" model to ensure supply-demand balance and cost efficiency [7] - Fulejia utilizes a combination of self-production, entrusted processing, and OEM production to meet market demands [8] - The sales strategy includes direct sales, distribution, and consignment through both online and offline channels [9] Industry Trends - The skin care product manufacturing industry is evolving, with increasing consumer demand for high-quality products [14] - The market for professional skin care products is expected to grow, with projections indicating a market size of 518.5 billion yuan by 2026 [14] Key Performance Drivers - Fulejia focuses on product innovation and marketing strategies to maintain competitiveness in the skin care market [15] - The company has launched various new products to meet diverse consumer needs, including whitening and anti-wrinkle masks [16] - Continuous investment in research and development is aimed at enhancing product supply capabilities and production efficiency [18][19] Research and Development - The company has established a collaborative R&D model, integrating internal and external resources to respond quickly to industry changes [19] - Fulejia has received multiple patents and is actively expanding its product line in medical devices [20]

报名：首届全球眼科大会 | 议程更新 报名：首届全球心血管大会 | 奖项申报 报名：首届全球骨科大会 | 奖项评选 合作伙伴征集：2025全球手术机器人大会 2025年3月27日， 巨子生物发布2024年年报。 # 财务数据 业务板块 核心品牌 渠道表现 研发投入 市场表现 功效性护肤品 ：2024年收入约为43.02亿元，同比增长62.5%，占总营收的77.7%。 医用敷料 ：2024年收入约为12.18亿元，同比增长41.5%，占总营收的22.0%。 其他品牌 ：2024年收入为1.38亿元人民币，同比增长33.8%，占总收入的2.5%。 营业收入 ：2024年实现收入55.39亿元人民币，同比增长57.2%。 净利润 ：净利润为20.62亿元人民币，同比增长42.4%。 归母净利润 ：归属于母公司持有者的盈利为20.62亿元人民币，同比增长42.1%。 经调整净利润 ：非《国际财务报告准则》下的经调整净利润约为21.52亿元，同比增长46.5%。 每股盈利 ：每股基本盈利为2.1元，同比增加40.9%。 派息计划 ：拟派发末期股息每股0.6021元及特别股息每股0.5921元。 | | 截至12月31日 ...