Core Viewpoint - The stock of Giant Bio (02367) has rebounded over 6%, currently trading at 40.1 HKD with a transaction volume of 411 million HKD, following the approval of its first medical aesthetic product, a recombinant type I collagen freeze-dried fiber, for facial dermal tissue filling to correct dynamic wrinkles [1][1]. Group 1: Product Development - Giant Bio's approved product is aimed at correcting forehead dynamic wrinkles, including frown lines, forehead lines, and crow's feet [1]. - The company is currently developing three additional medical aesthetic products, which include facial hydration, neck wrinkle treatments, and volumizing fillers [1]. Group 2: Market Position and Challenges - According to Guotai Junan Securities, the main brand, Kefu Mei, has seen a decline in its Double Eleven ranking due to public sentiment, product structure, and competition, which may lead to temporary pressure on its skincare business [1]. - Despite these challenges, the company has strong brand assets and operational foundations, with a focus on future channel adjustments and new product launches [1]. Group 3: Growth Potential - The recombinant collagen product is recognized for its anti-aging and repair benefits, with a solid understanding of its components among consumers [1]. - The company has a foundational presence in the medical aesthetic channel, and the product's market entry is expected to contribute to a second growth curve for the company [1].