Core Viewpoint - The strategic partnership between Jinbo Biotechnology and Meituan marks a significant shift from previous conflicts, indicating a new approach to market control and pricing stability in the medical aesthetics sector [2][5][22]. Group 1: Company Overview - Jinbo Biotechnology specializes in recombinant humanized collagen and anti-HPV biological proteins, with its flagship product, Wei Yimei, contributing over 90% of its revenue [6][8]. - Wei Yimei, launched in 2021, is the first injectable recombinant humanized collagen product approved in China, achieving sales of 2 million units and generating 2 billion yuan in revenue [8][12]. Group 2: Market Dynamics - The pricing of Wei Yimei has seen a significant decline since its launch, dropping from 16,800 yuan per unit to as low as 1,399 yuan, leading to a chaotic pricing environment [9][12]. - The competitive landscape is changing, with multiple companies expected to receive approvals for similar products by 2025, potentially eroding Jinbo's market dominance [20][21]. Group 3: Strategic Moves - The partnership with Meituan aims to stabilize pricing and expand market reach by leveraging Meituan's extensive network of 14,000 medical aesthetic institutions [24][25]. - Jinbo's collaboration with Yangshengtang, which includes a significant capital investment, is intended to enhance its product development and distribution capabilities [30][33]. Group 4: Future Prospects - Jinbo Biotechnology is positioned for potential growth, with a market capitalization of 38.5 billion yuan and aspirations to compete with leading companies like Aimeike, which has a peak market value of 170 billion yuan [35]. - The company's ability to transition from reliance on regulatory approvals to a focus on product and channel strength will be crucial for its future success [35].

Core Viewpoint - The article discusses the strategic shift of Jinbo Biotechnology from confrontation with online platforms to collaboration, highlighting its partnership with Meituan and the implications for its flagship product, Wei Yimei [2][21]. Group 1: Company Overview - Jinbo Biotechnology specializes in recombinant human collagen and anti-HPV biological proteins, with its star product Wei Yimei contributing over 90% of its revenue since its launch [7][8]. - Wei Yimei, the first injectable recombinant human collagen product in China, has seen a significant price decline from 16,800 yuan per unit at launch to as low as 1,399 yuan in the market [8][12]. Group 2: Market Dynamics - The price chaos surrounding Wei Yimei has led to consumer confusion, with prices ranging from hundreds to thousands of yuan, prompting Jinbo to protest against unauthorized low pricing by platforms like Meituan and Xinyang [12][25]. - The competitive landscape is changing as other companies, such as Juzhi Biotechnology and Chuangjian Medical, are accelerating their product approvals, potentially eroding Jinbo's market exclusivity [18][19]. Group 3: Strategic Partnerships - The partnership with Meituan aims to stabilize Wei Yimei's pricing and expand its market reach by leveraging Meituan's network of 14,000 medical beauty institutions [23][24]. - Jinbo's collaboration with Yangshengtang, which involves significant capital investment, is expected to enhance its distribution channels and R&D capabilities, allowing for the development of differentiated products [29][32]. Group 4: Future Prospects - Jinbo Biotechnology is positioned for potential growth, with a market valuation of 38.5 billion yuan and aspirations to transition to a higher stock exchange, potentially rivaling the market cap of major competitors like Aimeike [33]. - The success of Jinbo in navigating the challenges of price control and regulatory changes will determine its ability to evolve from a research-focused entity to a mature enterprise with robust product and channel capabilities [33].