中国商报（记者 马嘉）今年国庆、中秋长假期间，医美消费迎来一波高峰。中国商报记者走访多家医美机构发现，不少消费者利用假期践行"变美"计划， 医美市场呈现供需两旺态势。此外，男性消费者比例上升，选择进行植发、肉毒素注射（去皱、瘦脸）以及皮肤管理的男性明显增多。 "美丽投资"成焦点 男性消费者加速入场 10月2日上午11点，北京合生汇商圈的新氧线下门店内的候诊区已经坐了不少等待咨询和消费的顾客，其中不乏一些从外地来的"求美者"。 "平时工作太忙，恢复期也不方便，国庆长假正好有足够的时间来完成早就想做的项目，还不影响工作。"在候诊区的李薇（化名）告诉记者，她提前两个 月就预约了眼综合和注射微整形，预算在5万元左右。"这对我来说不是冲动消费，而是一项长期投资。" 值得关注的是，男性消费者的比例也在上升。有医美咨询师告诉记者："现在来做项目的男性，心态更加开放，目的性也很强，主要是为了解决脱发、皱纹 等具体问题。"此前就有数据显示，男性医美消费者增速连续多年高于女性。 节前新品集中上线 机构促销活跃市场 国庆、中秋假期前，医美市场已显露活跃态势。多款医美低价新品和促销活动赶在节前上线，覆盖射频、注射、皮肤管理等品类。比 ...

提到山东女首富赵燕，最让人津津乐道的不是她500亿的身家，而是那瓶"天价玻尿酸"，原料成本仅15元，到了消费者手里却要花5000元买单。 一边是女性为"变美"心甘情愿掏腰包，一边是近300倍的价格差，有人说她是"抓准女性痛点的商业奇才"，也有人骂她"靠收智商税发家"，这个站在医美行 业顶端的女人，到底凭什么？ 其实赵燕一开始和"玻尿酸"半点关系都没有，年轻时的她，手里攥着的是别人求之不得的"铁饭碗"。 上世纪80年代，她从华东师范大学毕业，因为成绩拔尖被留校当老师，工作轻松、福利稳定，放在当时，这几乎是女性最优的人生选择。 可赵燕偏不，看着电视里那些在商界闯天地的人，她总觉得"一辈子待在校园里，太可惜了"。 1987年，当她在宿舍看到"海南要建经济特区"的新闻时，连夜做了个决定：辞掉工作，去海南闯一闯。 那时候的海南挤满了淘金者，赵燕带着三个同事，凑了5000块钱就上了火车，可现实很快给了她一巴掌，钱没赚到多少，眼看就要见底。 就在几个人快打包回家时，她路过一家工厂，看到院子里堆着几百台落灰的冰箱。 打听才知道，这些冰箱外观没毛病，就是有点小故障，卖出去怕砸招牌，当废品处理又可惜，厂长正为此头疼，赵燕眼睛一亮 ...

近日，国内医美服务平台新氧推出"奇迹童颜3.0-塑缇妍"童颜针（与西宏生物合作获得的定制版产品，为水光型号），其2999元的定价被业内直接冠以"史上 最低价"之称，直接打破了此前万元级的市场均价常态。 相较更早进入市场，大众熟知度更高的玻尿酸（透明质酸钠），首款童颜针于2021年才在国内获批，并自此打开了该产品在医美行业的巨大想象力。 这款曾因定位高端、被戏称为"贵妇快乐水"的医美产品，如今随着越来越多品牌玩家的入局，其过去相对稳固的市场竞争体系或将迎来新一轮重构。而"平 价童颜针"的推出，也意味着童颜针市场已来到"价格战前夜"的关键节点。 九款产品贴身肉搏，市场进入"混战"阶段 资料显示，童颜针属于"医美再生注射剂"，这类注射剂是一种以生物刺激性材料为主要成分，可注射到真皮层、皮下组织、筋膜层和肌肉层中，通过刺激人 体自身胶原蛋白的再生，从而起到重塑紧致、美容抗衰作用的皮肤填充剂。 目前全球范围内已上市的医美再生注射剂主要产品的微球粒子主要分为PLLA、PDLLA、PCL和羟基磷灰石四大类，其中，以PLLA、PDLLA为核心成分的 被称为"童颜针"。 据头豹研究院行业报告数据，到2027年，中国医美再生注射 ...

Core Viewpoint - The article discusses the significant organizational changes and strategic shifts at Huaxi Biological, particularly focusing on the recent layoffs and the company's investment in Saint Nor Pharmaceutical, indicating a transition from a "traffic empire" to a "technology engine" in the biopharmaceutical sector [3][4][5]. Group 1: Layoff Turmoil - Huaxi Biological has undergone substantial layoffs and internal investigations, with teams like "Muscle Vitality" and "Mibelle" shrinking from over a hundred to just a few members, and compensation standards set at N+1 [4][6]. - CEO Zhao Yan has initiated a "clean-up" campaign, emphasizing zero tolerance for corruption and restructuring the company's power dynamics, leading to significant turnover in the executive team [4][5]. - The layoffs have created organizational instability, risking knowledge leakage and hindering product development and market responsiveness [6]. Group 2: Shift to Small Nucleic Acids - Huaxi Biological has invested approximately HKD 139 million to acquire a 9.44% stake in Saint Nor Pharmaceutical, aiming to leverage its RNA interference technology for weight loss treatments [8][9]. - Saint Nor is recognized as the first small nucleic acid drug company listed in the Asia-Pacific region, with a robust pipeline targeting various diseases, including cancer and metabolic disorders [9][10]. - The investment is seen as a strategic move to enter the innovative drug sector, with Huaxi planning to collaborate on clinical and commercial efforts for the STP705 targeted weight loss project [11]. Group 3: The Weight Loss Drug Market - The weight loss drug market is projected to grow significantly, with estimates suggesting it could reach CNY 800-1000 billion by 2030, capturing over one-third of the global market share [13][14]. - The increasing prevalence of obesity in China, with over 200 million individuals classified as obese, presents a substantial market opportunity for weight loss solutions [13]. - Regulatory support and advancements in drug technology are expected to facilitate market entry for new weight loss drugs, enhancing the competitive landscape [12][14]. Group 4: Future Market Dynamics - The article highlights the potential for the weight loss drug market to evolve into a comprehensive metabolic management ecosystem, integrating various therapeutic approaches and technologies [16]. - By 2035, advancements in drug delivery and treatment methodologies could significantly expand the market, with the potential for annual customer value to increase from CNY 10,000 to CNY 50,000 [16]. - The narrative emphasizes the need for stakeholders to view the weight loss drug market as part of a larger metabolic revolution, rather than merely a series of individual product launches [16].

Summary of the Medical Aesthetics and Cosmetics Industry Conference Call Industry Overview - The medical aesthetics industry in China has a significantly lower penetration rate compared to the US and South Korea, indicating substantial growth potential. The current penetration rate is approximately 2 per 1,000 people, while the US and South Korea have rates of 5‰ and 8‰ respectively, suggesting a large market opportunity for growth [2][3][4] - The consumer repurchase rate for medical aesthetics is high, with stable demand for light medical aesthetics services, which provides a solid foundation for industry development [2][3] Market Dynamics - The medical aesthetics industry is divided into two main segments: medical aesthetics and cosmetics. The medical aesthetics segment remains robust post-pandemic, with a focus on product and material development [3][4] - The upstream raw material sector has high gross margins, with companies like Aimeike achieving margins of 85%-90%. The typical markup at the consumer level is over three times the factory price, ensuring profitability for institutions and sales personnel [2][4] Capital Market Trends - Capital markets are increasingly focused on upstream manufacturers, particularly the transition from hyaluronic acid to active materials such as recombinant collagen and PDRN. This shift is driven by rising consumer demand for facial treatments [7] - The market for light medical aesthetics accounts for approximately 70% in leading hospitals, with new medical aesthetics primarily divided into photonic and injection categories [8] Product Market Size - The market size for hyaluronic acid and botulinum toxin at the factory level is estimated to be between 50 to 100 billion yuan. The markup for mature products typically ranges from 2 to 3 times, with high-end products potentially reaching 3 to 4 times [9] - The regenerative materials market has seen rapid growth, with several companies achieving sales exceeding 1 billion yuan since 2021. However, these materials are not fully replacing hyaluronic acid but rather expanding the market [10][11] Material Development and Trends - The development of regenerative materials is significant, with a focus on micro-spheres that stimulate natural repair and collagen regeneration. These materials are expected to enhance treatment effectiveness and safety in soft tissue filling and skin management [15][16] - The future of the medical aesthetics industry is expected to shift towards active micro-spheres and humanized collagen, with a focus on extracellular matrix and various collagen types [15] Cosmetics Industry Overview - The cosmetics industry has seen a clear trend towards domestic brand replacement, with domestic brands now accounting for over 50% of the market. Brands are leveraging e-commerce and live streaming to enhance growth, with increased R&D investments focusing on efficacy and ingredient-driven strategies [2][21] - The market has shifted from high-end luxury products to a broader consumer base, with skincare products maintaining steady growth despite the pandemic [21][22] Sales Dynamics - The sales of domestic cosmetics exhibit seasonal variations, with the first half of the year accounting for about 40% of total sales and the second half for 60%. Major shopping events like 618 and Double Eleven significantly impact annual sales [24] R&D Investment Differences - There is a notable difference in R&D investment between the medical aesthetics and cosmetics industries. The medical aesthetics sector focuses on material iteration, while the cosmetics industry emphasizes brand building and marketing to enhance consumer loyalty [25] Future Outlook - The future of domestic cosmetics companies appears optimistic, with expectations of revenue growth driven by channel changes and ingredient innovations. Companies like Perfect Diary and Proya are projected to reach revenue levels of 20 to 30 billion yuan in the next 3 to 5 years [30]

面对业绩和股价"双杀"的局面，华熙生物董事长赵燕重回业务一线，并进行了一系列变革。根据今年3月 份华熙生物发布的关于高级管理人员调整及聘任的公告，公司正在进行管理变革，为调整管理架构、精简 管理层级，公司决定减少非法定要求的副总经理职位数量。根据华熙生物8月发布的2025年半年报，公司5 位副总经理处于离任状态。 近期，"玻尿酸三巨头"之一的华熙生物发布控股股东增持进度的公告。控股股东与其一致行动人合计持有 公司的股份比例由59.17%增加至60.01%。短短一个多月时间，控股股东增持金额已超过2亿元。而今年华 熙生物董事长赵燕重回业务一线，并进行一系列改革。华熙生物2025年半年报显示，公司多名副总经理已 经离任。业绩连续两年下滑之后，今年上半年华熙生物的业绩依旧承压。 2025年9月23日晚间，华熙生物发布了关于控股股东增持股份进展暨权益变动触及5%整数倍的提示性公 告。该公告显示，公司控股股东华熙昕宇投资有限公司（以下简称"华熙昕宇"）于2025年8月27日至2025 年9月19日期间通过集中竞价方式增持公司股份403.6842万股，增持后持有公司股份约2.8754亿股，与其一 致行动人上海琰泽企业管理 ...

Core Viewpoint - Shanghai Haohai Biological Technology Co., Ltd. (688366.SH) announced that its controlling shareholder and actual controller Jiang Wei received a notice of administrative penalty from the China Securities Regulatory Commission (CSRC) regarding insider trading allegations [2] Group 1: Company Information - Jiang Wei was investigated by the CSRC in May 2025 for suspected insider trading, and the current notice pertains solely to him as an individual, not affecting Haohai Biological [2] - Jiang Wei and You Jie are the actual controllers of Haohai Biological, holding 28.53% and 17.29% of shares respectively [2] - Haohai Biological is a well-known hyaluronic acid producer in China, reporting revenue of 1.304 billion yuan and a net profit of 211 million yuan in the first half of 2025, both showing a year-on-year decline [2] Group 2: Regulatory and Compliance - The final outcome of the administrative penalty will be determined by the CSRC's official decision [2] - Haohai Biological stated it will continue to monitor the situation and fulfill its information disclosure obligations in a timely manner [2]

就股权结构来看，蒋伟与配偶游捷共同为昊海生科实控人。截至2025年3月末，蒋伟持股28.53%，游捷持股17.29%，二人合计控制45.82%股权。 公司紧急澄清，处罚主体仅为蒋伟个人，所涉事项与公司无关。蒋伟不参与公司日常经营管理，该事项不会对公司经营、业务及财务造成重大影响。 昊海生科是国内知名玻尿酸生产商，业务覆盖医美、眼科、骨科及止血防粘连四大领域，与华熙生物、爱美客并称中国"玻尿酸三巨头"。 按产品分类，2024年，公司来自医美业务的收入占比44.30%，眼科产品占31.79%，骨科产品占比16.92%。其中，眼科业务受人工晶状体带量采购影响， 2024年收入下降7.6%至8.58亿元。 2025年上半年，公司营收和净利出现同步下滑，其中，实现营业收入为13.04亿元，同比下降7.12%，净利润2.11亿元，同比下降10.29%。 据悉，该处罚源于今年5月8日蒋伟因涉嫌内幕交易被证监会立案调查的事件。 张力制图 9月16日晚间，上海昊海生物科技股份有限公司（688366.SH，下称"昊海生科"）发布公告称，公司控股股东、实际控制人之一蒋伟于近日收到中国证监会 出具的《行政处罚事先告知书》。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 来源：环球网 【环球网财经综合报道】9月17日，昊海生科（688366.SH）公告称，公司控股股东、实际控制人之一 蒋伟于今年5月收到中国证监会出具的《立案告知书》，因涉嫌内幕交易被立案调查。昊海生科表示， 该事项仅涉及蒋伟个人，与公司无关，且蒋伟不参与公司日常经营管理，因此不会对公司的日常经营、 业务及财务造成重大影响。公司称，最终行政处罚结果将以中国证监会对蒋伟出具的《行政处罚决定 书》为准，并将持续关注事项进展，及时履行信息披露义务。 （图片来 源：上市公司公告） 公开资料显示，昊海生科业务覆盖玻尿酸、表皮修复基因工程制剂、射频及激光设备四大品类，产品应 用于医疗美容、生活美容及家用美容三大场景。 公司2024年半年度报告显示，受多个产品线主营业务收入减少影响，上半年业绩出现下滑。期内实现营 业收入130,440.28万元，同比下降7.12%；主营业务收入为129,755.17万元，同比减少7.52%。从细分业 务来看，医疗美容与创面护理产品收入57,544.98万元，同比下降9.31%；眼科产品收入36,754.10万元， 降幅达18.61%；骨科产品 ...

按产品分类，2024年，公司来自医美业务的收入占比44.30%，眼科产品占31.79%，骨科产品占比16.92%。其中，眼科业务受人工晶状体带量采购影响， 2024年收入下降7.6%至8.58亿元。 2025年上半年，公司营收和净利出现同步下滑，其中，实现营业收入为13.04亿元，同比下降7.12%，净利润2.11亿元，同比下降10.29%。 星标 ★ IPO日报 精彩文章第一时间推送 9月16日晚间，上海昊海生物科技股份有限公司（688366.SH，下称"昊海生科"）发布公告称，公司控股股东、实际控制人之一蒋伟于近日收到中国 证监会出具的《行政处罚事先告知书》。 据悉，该处罚源于今年5月8日蒋伟因涉嫌内幕交易被证监会立案调查的事件。 张力制图 就股权结构来看，蒋伟与配偶游捷共同为昊海生科实控人。截至2025年3月末，蒋伟持股28.53%，游捷持股17.29%，二人合计控制45.82%股权。 公司紧急澄清，处罚主体仅为蒋伟个人，所涉事项与公司无关。蒋伟不参与公司日常经营管理，该事项不会对公司经营、业务及财务造成重大影响。 昊海生科是国内知名玻尿酸生产商，业务覆盖医美、眼科、骨科及止血防粘连四大领域，与华熙生物 ...