Company Overview - Kefu Mei is a well-known brand under Shaanxi Juzhi Biological Technology Co., Ltd, focusing on medical dressings, functional skincare products, and biomaterials, particularly in the field of human-like collagen, holding a leading position in the industry [5] - Juzhi Biological primarily offers recombinant collagen products and operates in the medical aesthetics segment, with brands including "Kefu Mei," "Keli Jin," and "Xin Gan," and successfully went public on the Hong Kong Stock Exchange in 2022 [5] Financial Performance - From 2020 to 2024, Juzhi Biological's revenue figures are projected to be 1.19 billion, 1.55 billion, 2.36 billion, 3.52 billion, and 5.54 billion yuan respectively, showing a consistent year-on-year growth trend [5] - The net profit attributable to the parent company for the same period is expected to be 826 million, 828 million, 1.00 billion, 1.45 billion, and 2.06 billion yuan, also reflecting steady growth [5] - In 2024, Kefu Mei's GMV growth rate is expected to exceed 80%, contributing 4.54 billion yuan in revenue, which accounts for 82% of the total revenue [5] Market Trends - Recombinant collagen, synthesized through genetic engineering, is increasingly replacing hyaluronic acid and animal-derived collagen, becoming a new trend in the medical aesthetics sector [6] - The Chinese recombinant collagen market is projected to grow at a compound annual growth rate of 44.93%, reaching a market size of 219.38 billion yuan by 2030 [6][7] Product Integrity and Compliance - Kefu Mei has firmly denied allegations of product integrity issues, stating that all product development and production strictly adhere to cosmetic regulations and that all ingredient labeling complies with legal standards [1] - The company conducted multiple tests on its products, confirming that collagen content exceeds 0.1%, contradicting claims of a 0.0177% addition [1][3]

Macroeconomic Dynamics - The BRICS countries held their second economic and trade liaison group meeting, emphasizing the need to maintain a multilateral trade system and oppose unilateralism and trade protectionism [2] - The China Post reported that the express delivery volume in China has surpassed 50 billion pieces this year, 18 days ahead of the 2024 timeline [3] Industry Support Initiatives - The Henan Provincial Government announced a subsidy program for home renovation, offering up to 20,000 yuan per household for purchasing smart home products [4] Educational Developments - Beijing's first municipal vocational undergraduate university, Beijing University of Science and Technology, was officially established, offering six vocational undergraduate programs [5] Market Data - The total box office for 2025 has exceeded 25 billion yuan, with "Nezha: The Devil's Child" accounting for 60.8% of the annual box office [8] Financial Institutions - Fund manager Bao Wuke has appointed additional managers for four of his funds, emphasizing a balanced value investment approach with a current asset management scale of 17.783 billion yuan [9] Company Dynamics - Kefu Mei responded to allegations regarding the addition of epidermal growth factor in their products, stating that all products comply with national regulations and have been independently tested [13] - Meituan announced the establishment of an independent instant retail brand, with non-food orders surpassing 18 million [14][15] - Apple stores have maintained consistent pricing for iPhones, while some unauthorized retailers have experienced price fluctuations [17]