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敷尔佳:公司产品主要分为医疗器械类产品与功能性护肤品两大类
Zheng Quan Ri Bao· 2025-09-23 12:39
Core Viewpoint - The company, Fulejia, announced on September 23 that its products are primarily divided into two categories: medical devices and functional skincare products, featuring a diverse range of formulations including masks, waters, serums, lotions, sprays, single-use products, and eye masks [2] Group 1 - The company offers a wide variety of product forms, which enhances its market coverage [2] - The product categories include both medical devices and functional skincare, indicating a diversified product portfolio [2]
敷尔佳:销售渠道逐渐回归健康,产品价格梳理工作已阶段性完成
Core Viewpoint - The company, Fulejia, is experiencing a decline in revenue and net profit for the first half of 2025, but there are signs of recovery in the second quarter due to sales channel optimization and product price adjustments [1][2]. Group 1: Financial Performance - For the first half of 2025, the company reported a revenue of 863 million yuan, a year-on-year decrease of 8.15% [1] - The net profit attributable to shareholders was 230 million yuan, down 32.54% year-on-year [1] - The net profit after excluding non-recurring gains and losses was 166 million yuan, a decrease of 48.66% year-on-year [1] - Basic earnings per share were 0.44 yuan [1] Group 2: Sales Channels and Strategies - The company has implemented a multi-channel sales strategy, integrating online and offline sales, covering major e-commerce platforms like Tmall, Douyin, JD.com, and Pinduoduo, as well as offline medical institutions and retail stores [1] - In the second quarter of 2025, the company saw a significant revenue increase of 86.68% compared to the first quarter, indicating a recovery in performance [2] - The company is focusing on optimizing offline distribution channels, with over 99% of revenue coming from the distribution model, which incurs minimal sales expenses [2] Group 3: Product Development - The company is enhancing its product line, particularly in non-patch products, with a steady increase in their revenue share [3] - The establishment of a research and development center in Shanghai is expected to accelerate product innovation and expansion [3] - The company has completed the third round of injections for a project involving humanized collagen freeze-dried fibers, which is currently in the data cleaning and report preparation stage [3]
ESG年报解读|丸美生物研发投入占比不足3%,核心产品依赖代工引全链路自主质疑
Sou Hu Cai Jing· 2025-05-22 06:54
Core Viewpoint - Marubi Biotech's 2024 ESG report highlights its innovative practices and commitment to sustainable development, despite facing challenges in R&D investment and governance issues [5][6][7]. Environmental Aspects - Marubi Biotech was recognized as a "Green Factory" in Guangdong Province, implementing measures like rooftop solar power and green methanol to reduce carbon emissions [5]. - The company completed carbon footprint assessments for three flagship products and achieved carbon neutrality for its products in 2023 through carbon credit purchases [5]. Social Responsibility - The company focuses on biotechnology, establishing a national research center for recombinant functional protein technology and leading the development of industry standards for soluble collagen [5]. Corporate Governance - In 2024, Marubi Biotech distributed cash dividends of 309 million yuan, with cumulative dividends since listing accounting for 99.03% of net financing [6]. - The company maintains a 100% compliance rate in information disclosure and enhances communication through performance briefings and investor hotlines [6]. R&D and Marketing Controversy - Marubi Biotech faces criticism for prioritizing marketing over R&D, with R&D expenses of 74 million yuan in 2024, significantly lower than sales expenses of 1.635 billion yuan, resulting in an R&D-to-revenue ratio of only 2.48% [7][8]. - The company has heavily invested in advertising, successfully targeting Gen Z consumers through collaborations with celebrities and social media marketing [7]. Claims of R&D Investment - The company claims to have achieved a record high in R&D investment, adding 44 new patents and participating in the formulation of 76 industry standards [10]. - Marubi emphasizes its "full-chain R&D system" in its ESG report, although some of its core products are produced through external ODM partnerships, raising questions about its self-reliance [14][16]. Leadership and Market Confidence - The company's founder, Sun Huaqing, defended the marketing strategy as essential for brand development, stating that a 2% R&D investment is already high for the industry [8]. - Recent leadership changes and a planned stock reduction by the founder have raised concerns about the company's technological credibility and market confidence [18].