Core Viewpoint - The article discusses the recent controversy surrounding Juzhi Biotechnology (巨子生物) and its admission of limitations in quality standards and testing methods, which has raised further questions about the integrity of its products and the broader implications for the industry [2][4][10]. Group 1: Company Response and Market Impact - Juzhi Biotechnology acknowledged its limitations in quality standards and testing methods, marking a significant shift from its previous defensive stance against accusations regarding its collagen products [4][10]. - Following the controversy, Juzhi's stock price fell from 87.1 HKD to 53.9 HKD, resulting in a market capitalization loss of over 330 billion HKD [10]. - The company's internal investor meeting indicated confidence in recovering from short-term impacts, despite the ongoing public skepticism [4][11]. Group 2: Industry Context and Competition - The controversy highlights a broader "ingredient war" between Juzhi Biotechnology and Huaxi Biotechnology (华熙生物), with both companies competing in the collagen and hyaluronic acid markets [14][15]. - Huaxi Biotechnology, a leader in the hyaluronic acid market, has criticized Juzhi's claims about collagen superiority, emphasizing the lack of scientific basis for such assertions [15][16]. - The article suggests that the current lack of unified testing standards in the collagen industry poses challenges for quality control and consumer trust [17][19]. Group 3: Consumer Trust and Market Dynamics - The incident has led to a decline in consumer trust, particularly among core users who prioritize ingredient efficacy, which could have long-term repercussions for Juzhi's brand reputation [12][13]. - The article notes a shift in consumer behavior towards more informed purchasing decisions, moving from concept-driven marketing to a focus on ingredient transparency and scientific validation [23][24]. - The controversy may catalyze regulatory changes and industry standards, potentially leading to a market reshuffle where companies lacking core R&D capabilities may struggle to survive [22][24].

5月22日，A股化妆品企业上海丽人丽妆化妆品股份有限公司(605136 SZ，以下简称"丽人丽 妆"）股价上涨5.10%，以13.19元/股收盘，止步"五连板"。 实际上，丽人丽妆近期已多次发 布股票交易风险提示性公告，表示公司销售的含有"麦角硫因"成分的产品销售收入占比不到 1%，对整体业绩影响很小。 5月21日晚间，丽人丽妆发布股票交易异常波动公告显示，公司股票价格自2025年5月15日至5月21日期 间，公司股票累计涨幅61.10%，累计换手率67.05%，相应指标均远高于行业同期平均水平，后续股票 可能存在较大下跌风险。丽人丽妆表示，公司主营业务及商业模式均未发生重大变化，也不存在应披露 而未披露的重大信息。 值得一提的是，丽人丽妆公告特别指出，公司销售的含有"麦角硫因"成分的产品销售收入整体占比不到 1%，对于公司日常经营及整体业绩影响很小，未来产品发展仍存在很大不确定性。 图片来自丽人丽妆公告。 近期，麦角硫因成为市场热点。5月8日晚间，科伦药业(002422 SZ)75岁董事长刘革新在官方平台发布 广告，称自己长期服用麦角硫因，并亲自为其公司的麦角硫因胶囊代言，1499元60粒，产品将会先行在 ...

Core Viewpoint - Shanghai Liren Lizhuang Cosmetics Co., Ltd. experienced a significant stock price fluctuation, with a cumulative closing price increase of over 20% on May 15 and 16, 2025, which is classified as an abnormal trading situation according to Shanghai Stock Exchange regulations [2][3]. Group 1: Stock Trading Situation - The company's stock price showed a cumulative increase of over 20% on May 15 and 16, 2025, indicating abnormal trading activity [2][3]. - The actual fluctuation of the stock price, after excluding the overall market and sector factors, was relatively large [10]. Group 2: Company Operations and Major Events - The company confirmed that its daily operations are normal, and there have been no significant changes in the market environment or industry policies [4]. - There are no undisclosed major events affecting the stock price, including significant asset restructuring, share issuance, or major business collaborations [5][8]. Group 3: Product and Revenue Impact - The product containing "ergothioneine," such as the self-owned brand Meiyitang's oral product "Qianjin Jiguang Drink," is primarily positioned for skin conditioning and beauty enhancement, with ergothioneine being a minor additive [6]. - The revenue from products containing "ergothioneine" constitutes a very low percentage of the company's overall revenue, having minimal impact on daily operations and overall performance [7][10].

Core Viewpoint - Shanghai Liren Lizhuang Cosmetics Co., Ltd. experienced a significant stock price fluctuation, with a cumulative closing price increase exceeding 20% over two consecutive trading days on May 15 and May 16, 2025, which is classified as an abnormal trading situation according to Shanghai Stock Exchange regulations [1][2]. Group 1: Stock Trading Abnormalities - The company's stock price showed a cumulative closing price increase of over 20% on May 15 and May 16, 2025, indicating abnormal trading activity [1][2]. - The company conducted a self-examination and confirmed that there are no undisclosed significant information affecting the stock price [2]. Group 2: Business Operations - The company's daily operations are reported to be normal, with no significant changes in market environment or industry policies [2]. - The company verified with its controlling shareholder that there are no undisclosed major events affecting stock price fluctuations, including major asset restructuring or significant business cooperation [2]. Group 3: Product Information - The product containing "ergothioneine," specifically the self-owned brand Meiyitang's oral product "Qianjin Jiguang Drink," has a low sales revenue contribution to the overall business, thus having minimal impact on daily operations and overall performance [2][3]. - The "ergothioneine" is a minor auxiliary additive in the product, primarily aimed at skin conditioning and beauty enhancement [2]. Group 4: Board Statements - The board of directors confirmed that there are no undisclosed matters that should be disclosed according to the Shanghai Stock Exchange's listing rules, and previous disclosures do not require correction or supplementation [4]. - The company emphasizes that all information should be based on disclosures made in designated media outlets [4].

Core Viewpoint - The company, Liren Lizhuang, reported strong growth in its self-owned brands and strategic partnerships, indicating a robust performance in the first quarter of 2025, with a significant increase in revenue driven by innovative product offerings and effective brand management strategies [1][2][3][4] Group 1: Financial Performance - In Q1 2025, Liren Lizhuang achieved a revenue of 361 million yuan, with self-owned brands and agency business showing strong performance, particularly the self-owned brand Yuruqi, which saw over 110% year-on-year revenue growth [1] - The agency business began its strategic layout in the second half of 2024, forming partnerships with brands such as Ongredients and GEOMAR to expand the company's brand management matrix [1] Group 2: Brand Development and Product Innovation - The company is focusing on enhancing its self-owned brand management by launching new products and optimizing multi-channel operations, which has led to significant sales growth [2] - Yuruqi launched a new product, Saffron Contour Oil, specifically designed for Eastern skin types, achieving top sales on Tmall for high-end essence oils [2] - Another self-owned brand, Meiyitang, introduced products that combine natural elements with modern skincare technology, with its flagship product, Qianjin Aurora Drink, winning the TBI Annual Best Health Product Award [2] Group 3: Operational Efficiency and Market Strategy - Liren Lizhuang is enhancing its brand management capabilities to support partner brands in achieving growth and increasing brand influence in the Chinese market [3] - The company has demonstrated effective operational strategies, helping Ongredients achieve rapid growth in the Chinese market within six months, ranking top in multiple e-commerce platforms [3] - The company is transitioning towards value-driven operations, focusing on enhancing brand strength and facilitating long-term value growth for its partners [3] Group 4: Future Outlook - As a leading player in the beauty e-commerce sector, Liren Lizhuang aims to leverage its experience in marketing, product strategy, and channel management to capture policy dividends and drive value growth for partner brands [4] - The company is committed to innovation and comprehensive operations to enhance its core competitiveness and contribute to the high-quality development of the Chinese beauty industry [4]