"锦波生物并非医美企业" 胶原蛋白赛道，造富神话还在持续。 技术受制于人的困境，促使她与丈夫任先炜注资50万元创立锦波生物，进军当时全球科研界尚未攻克的 重组人源化胶原蛋白领域。 这笔累计高达34亿元、涉及两大富豪家族的巨额交易迅速引发市场关注。技术垄断与资本巨头的深度捆 绑，能否重构产业权力格局。 在胶原蛋白三类医疗器械领域保持100%市场占有率的锦波生物，此次引入的不仅是34亿元资金，更是 钟睒睒系庞大的渠道资源与医疗产业布局。 6月底，锦波生物(832982.BJ)官宣将与钟睒睒旗下养生堂达成两项深度合作。 其一养生堂将全额认购锦波生物不超20亿元定增募资事项；其二旗下杭州久视以14.03亿元受让锦波生 物实际控制人杨霞持有的5%股份。 钟睒睒，中国前首富、农夫山泉创始人；杨霞，山西女首富，北交所股王——锦波生物创立者兼掌舵 人。 资本市场的应激反应已现端倪。公告发布次日，锦波生物股价单日涨幅达8.67%。 这笔涉及"北交所股王"关键股东位让渡的交易，若顺利实施，钟睒睒将间接控制锦波生物10.58%的股 份，跃居锦波生物第二大股东职位，而杨霞也将成为北交所史上实控人减持规模之最。攻克胶原蛋白重 组无人区 ...

此次引入钟睒睒，锦波生物希望借助养生堂在品牌、渠道、资金等方面的优势，突破瓶颈，实现更大发 展。 近日，锦波生物发布公告，公司拟向养生堂有限公司（以下简称 "养生堂"）定向发行股票募资20亿 元，同时实控人杨霞向养生堂关联方杭州久视转让价值14.03亿元的股份。 两项交易完成后，农夫山泉创始人钟睒睒将间接控制锦波生物10.58% 股份，成为第二大股东。 钟睒睒通过旗下养生堂及关联公司，以"协议转让+定向增发"双轨模式投资34亿元入股锦波生物，让重 组胶原蛋白这一赛道再次引发市场关注。 业绩爆发，主要得益于其核心产品重组Ⅲ型人源化胶原蛋白冻干纤维（商品名：薇旖美）。这是国内首 个重组胶原蛋白植入剂，也是目前国内唯一获批的含Ⅲ型人源化胶原蛋白的三类医疗器械，主要用于面 部真皮组织填充以纠正额部动力性皱纹。2021年获批上市后，迅速成为爆款，2024年销售收入突破10亿 元，撑起了公司的业绩。 养生堂旗下的农夫山泉是饮用水巨头，万泰生物是疫苗龙头，在消费品和生物医药领域都有成功经验。 锦波生物的重组胶原蛋白技术，正好与养生堂现有业务形成互补，有望在化妆品、食品、药品等领域开 发出新产品，拓展新的增长点。 但首富的跨 ...

业绩层面，凭借以上述产品为代表的主力产品销售收入的增长，锦波生物业绩实现了跃升，营收规模从 2021年的2.33亿元一路上涨至2024年的14.43亿元，相对应的净利润也从5738.72万元增长至7.32亿元，期 间净利润同比增速超过79%。 近日的战略投资动作，让锦波生物吸引了不少关注。锦波生物近日披露，将向养生堂有限公司（以下简 称养生堂）特定对象发行股票并签署股份认购协议，公司控股股东和实控人杨霞还将向久视管理咨询 （杭州）合伙企业（有限合伙）（以下简称杭州久视）转让股份，两项交易（融资额+转让款）合计为 34.03亿元。 值得注意的是，养生堂与杭州久视均为钟睒睒旗下公司。能吸引这位中国首富豪掷34亿元入局，锦波生 物也有"利器"，在重组人源化胶原蛋白领域，锦波生物是目前唯一一个实现植入级三类医疗器械技术突 破并完成产业化的企业。一个急需大规模工业化生产及推广体系，另一个手握商业化、市场渠道建设等 优势，双方的合作就不难理解了。 钟睒睒携旗下两家公司入局 双方此次合作共涉及两部分，锦波生物与养生堂签署协议，以引入战略投资者的方式向特定对象养生堂 发行相当于本次发行前锦波生物已发行的股份总数6.24%的人 ...

Core Viewpoint - The strategic investment by Zhong Shanshan, the founder of Nongfu Spring, in Jinbo Biological represents a significant shift in the competitive landscape of the medical beauty industry in China, aiming to leverage the growing market for recombinant collagen products and enhance market presence through collaboration with established brands [1][36][37]. Group 1: Investment Details - Jinbo Biological announced a strategic partnership with Yangshengtang, raising 2 billion yuan through a private placement, marking a record for cash capital increases on the Beijing Stock Exchange [3][4]. - The investment will be used for developing a humanized collagen FAST database and product development, with 1.15 billion yuan allocated for this purpose and 850 million yuan for working capital [3]. - Following the announcement, Jinbo Biological's stock price surged, closing at 355.96 yuan per share, with a market capitalization of 40.96 billion yuan [6]. Group 2: Company Backgrounds - Zhong Shanshan, aged 71, is a legendary entrepreneur who founded Nongfu Spring and Yangshengtang, creating a business empire valued over 400 billion yuan [11]. - Yang Xia, the 51-year-old founder of Jinbo Biological, transitioned from academia to entrepreneurship, focusing on synthetic collagen for medical applications after identifying challenges in organ preservation [12][13]. Group 3: Market Potential - The recombinant collagen product market in China is projected to grow at a compound annual growth rate of 44.93%, reaching 58.57 billion yuan by 2025 and exceeding 219.38 billion yuan by 2030 [25][26]. - Jinbo Biological's revenue is expected to reach 1.443 billion yuan in 2024, reflecting an 84.92% year-on-year increase, with a net profit of 732 million yuan, up 144.27% [18]. Group 4: Strategic Synergies - The partnership is expected to enhance Yangshengtang's product line with high-end collagen ingredients, while Jinbo Biological can leverage Yangshengtang's extensive retail network of over 300,000 outlets to penetrate the consumer market [29][36]. - The collaboration aims to transform Jinbo Biological from a technology leader to a market leader, with the anticipated launch of new products in the third quarter [31]. Group 5: Competitive Landscape - The medical beauty industry is highly competitive, with Jinbo Biological facing challenges from established players like Huaxi Biological and Aimeike, which are also expanding into recombinant collagen [34]. - Jinbo Biological's dynamic price-to-earnings ratio of over 50 requires sustained high growth to maintain investor confidence, especially as sales expenses are projected to rise significantly [34][35].

以下文章来源于投资界 ，作者吴琼 投资界 . 清科创业旗下创业与投资资讯平台 美容针。 作者：吴琼 来源：投资界 一个意想不到的赛道，钟睒睒出手了。 近日北交所上市公司锦波生物宣布两笔交易——引入养生堂作为公司的战略投资者；同时公司 创始人杨霞将其持有的575.33万股转让给杭州久视。合计下来，交易总金额将达34亿元。 穿透两家受让方背后，都是钟睒睒。 在外界的印象里，钟睒睒总离不开与农夫山泉。但他这次投资的，却是一个医美新晋女王—— 曾是山西医科大学老师的杨霞带队创办锦波生物，如今凭借重组胶原蛋白产品（美容针），撑 起400亿市值。 01 刚刚，钟睒睒出手34亿 投向重组胶原蛋白 根据公告，锦波生物拟以引入战略投资者方式，向养生堂发行不超过717.57万股，占其发行 前总股本的6.24%，融资金额不超过20亿元。若成功实施，这将是北交所史上最大金额的现金 定增。 同时，锦波生物控股股东和实控人杨霞与杭州久视签署了《股份转让协议》，将其持有的 575.33万股转让给杭州久视，转让价格为243.84元/股，交易总金额达14.03亿元。 股权穿透下来，受让方养生堂和杭州久视的实控人均为钟睒睒——钟睒睒持有养生堂9 ...

以下文章来源于投资界 ，作者吴琼 投资界 . 清科创业旗下创业与投资资讯平台 本文转载自投资界 近日北交所上市公司锦波生物宣布两笔交易——引入养生堂作为公司的战略投资者；同时公司创始人杨 霞将其持有的575.33万股转让给杭州久视。合计下来，交易总金额将达34亿元。 穿透两家受让方背后，都是钟睒睒。 在外界的印象里，钟睒睒总离不开与农夫山泉。但他这次投资的，却是一个医美新晋女王——曾是山西 医科大学老师的杨霞带队创办锦波生物，如今凭借重组胶原蛋白产品（美容针），撑起400亿市值。 值班编辑 | 宝珠 视觉 | 诺言 一个意想不到的赛道，钟睒睒出手了。 刚刚，钟睒睒出手34亿 投向重组胶原蛋白 根据公告，锦波生物拟以引入战略投资者方式，向养生堂发行不超过717.57万股，占其发行前总股本的 6.24%，融资金额不超过20亿元。若成功实施，这将是北交所史上最大金额的现金定增。 同时，锦波生物控股股东和实控人杨霞与杭州久视签署了《股份转让协议》，将其持有的575.33万股转 让给杭州久视，转让价格为243.84元/股，交易总金额达14.03亿元。 股权穿透下来，受让方养生堂和杭州久视的实控人均为钟睒睒——钟睒睒持有 ...

美容针。 作者 I 吴琼 报道 I 投资界PEdaily 一个意想不到的赛道，钟睒睒出手了。 近日北交所上市公司锦波生物宣布两笔交易——引入养生堂作为公司的战略投资者；同时公司创始人杨霞将其持有的5 7 5 . 33万股转让给 杭州久视。合计下来，交易总金额将达3 4亿元。 穿透两家受让方背后，都是钟睒睒。 在外界的印象里，钟睒睒总离不开与农夫山泉。但他这次投资的，却是一个医美新晋女王——曾是山西医科大学老师的杨霞带队创办锦 波生物，如今凭借重组胶原蛋白产品（美容针），撑起4 00亿市值。 刚刚，钟睒睒出手34亿 投向重组胶原蛋白 根据公告，锦波生物拟以引入战略投资者方式，向养生堂发行不超过7 1 7 . 5 7万股，占其发行前总股本的6 . 2 4%，融资金额不超过2 0亿 元。若成功实施，这将是北交所史上最大金额的现金定增。 同 时 ，锦 波 生 物 控 股 股 东 和 实 控 人 杨 霞 与 杭 州 久 视 签 署 了《 股 份 转 让 协 议 》 ， 将 其 持 有 的 5 7 5 . 3 3 万 股 转 让 给 杭 州 久 视 ， 转 让 价格 为 2 4 3 . 84元/股，交易总金额达1 4 . ...

Core Viewpoint - The recent stock issuance by Jinbo Biological, controlled by Zhong Shanshan, aims to raise up to 2 billion RMB to support its growth and development in the collagen market, while also indicating a strategic partnership with Yangshengtang [1][2][7]. Group 1: Company Actions and Financials - Jinbo Biological plans to issue no more than 717,566 shares, representing 6.24% of its total shares before the issuance, to raise funds for a humanized collagen protein database and working capital [1][2]. - The total investment for the projects is 200 million RMB, with 57.5% allocated to the collagen protein project and 42.5% for working capital [2]. - Jinbo Biological's stock price has surged since its listing, with a maximum increase of over 800% from its issue price, reaching a peak of 452.29 RMB [3][9]. Group 2: Market Performance and Growth - Jinbo Biological has shown impressive financial growth, with revenue increasing from 233 million RMB in 2021 to 1.443 billion RMB in 2024, and net profit rising from 57.39 million RMB to 732 million RMB in the same period [9]. - The gross margin improved from 82.29% to 92.02%, and net margin increased from 24.38% to 50.68% [9]. - The Chinese collagen market reached 28.7 billion RMB in 2021, growing at 40.7%, with a significant increase in the penetration of recombinant collagen [9]. Group 3: Strategic Partnerships and Future Outlook - Yangshengtang, controlled by Zhong Shanshan, is entering into a strategic partnership with Jinbo Biological, which is expected to enhance business synergies and accelerate the implementation of their strategic goals [7][8]. - The collaboration aims to leverage technological integration and market channel empowerment, potentially leading to significant advancements in product development [7][8]. - Jinbo Biological's need for strategic investors is highlighted by its relatively small size and the increasing competition in the medical aesthetics industry [10][13].

Core Viewpoint - The controversy surrounding Juzhibio's flagship product, Kefu Mei, has raised significant concerns about the authenticity of its collagen claims, leading to a crisis of trust among investors and consumers [1][3][6]. Company Summary - Juzhibio, known as a leader in recombinant collagen, has faced allegations of product falsification, particularly regarding its Kefu Mei product, which reportedly contains only 0.0177% collagen, below the regulatory threshold of 0.1% [3][4]. - The company has stated that all its products are compliant with regulatory standards and have undergone rigorous quality checks [4][6]. - Following the controversy, Juzhibio's stock price fell by 4.04% to HKD 73.6, with a total market capitalization of HKD 788.19 billion as of May 26 [2]. Industry Summary - The demand for aesthetic products, including hyaluronic acid and collagen, has been rising, with major players like Juzhibio and Jinbo Bio seeing growth despite market challenges [2][9]. - The recombinant collagen market in China is projected to grow significantly, reaching CNY 585.7 billion by 2025, with a compound annual growth rate of 44.93% [10][12]. - The lack of standardized testing methods for collagen products has led to discrepancies in product claims and consumer trust issues, highlighting the need for regulatory frameworks in the industry [5][8][12].

5月22日，微盘股指数开盘低开高走，一度大涨逾1%，创历史新高。不过，随后开始回调，收跌 1.37%。 此外，北证50指数亦出现大幅回调，收跌6.15%，该指数昨日才创下历史新高。 对于此轮调整，南财快讯记者综合各方观点，主要存在内外两方面的原因： （文章来源：21世纪经济报道） 一是美国20年期国债拍卖结果不佳，隔夜美国金融市场遭遇"股债汇三杀"，可能引发全球避险、 观望情绪升温； 二是微盘股投资可能过于拥挤，有机构表示，中证2000的成交占比已经超过了3月的高点，微盘出 现了显著的超买信号。 记者还注意到，北交所龙头股锦波生物（832982.BJ）盘中一度跌超17%，收跌14.55%。对于今日大 跌，该公司工作人员在接受记者以投资者身份采访时表示，下跌的具体因素不太清楚，更多的是市场原 因。他分析称，公司股价最近涨得比较猛，或有部分投资者获利了结。 至于华熙生物的炮轰券商研报不严谨，比较胶原蛋白和玻尿酸一文，该人员称，或存在部分负面影响， 但不会因为一篇文章否定掉整个胶原蛋白行业。 今年3月以来，锦波生物股价持续走高。5月22日，锦波生物盘中股价一度攀升至589.98元/股，总市值 突破520亿元。据悉， ...