On January 30, Bloomage Biotech (688363), one of the three musketeers of medical cosmetology, suddenly fell without obvious downsides, falling more than 14% intraday and finally closing down 1062%。A relevant person from Bloomage Biotech gave an exclusive response to a reporter from Beijing Business Daily, saying that the company's stock price fell sharply due to the forced liquidation of financing orders. With the increasingly fierce competition in the hyaluronic acid industry, the halo of Bloomage Biotech's "first share of hyaluronic acid" has faded, and the company's stock price has also hit a record low since its listing for more than four years. In the past period of time, Bloomage Biotech's "botulinum toxin" business has failed and set its sights on the recombinant collagen market. Under the decline in net profit, how Bloomage Biotech tells a "new story" of medical cosmetology through the layout of recombinant collagen business is worth looking forward to by investors.
The stock price fell more than 14% intraday
On January 30, the share price of Bloomage Biotech, which has no public news recently, suddenly fell sharply, falling by more than 14% intraday, which surprised investors.
The transaction ** shows that on January 30, Bloomage Biotech opened 081% with an opening price of 6479 yuan shares, the stock price fell all the way after the opening, and once fell more than 14% intraday. After the afternoon opened, the decline in Bloomage Biotech's share price narrowed slightly, and as of **, Bloomage Biotech reported 5838 yuan shares, closed down 1062%, with a total market capitalization of 281200 million yuan, with a full-day turnover of 38.3 billion yuan, with a turnover rate of 328%。
In response to the heavy drop in the share price of Bloomage Biotech, the relevant person of Bloomage Biotech exclusively responded to a reporter from Beijing Business Daily that it should be the stock price caused by the forced liquidation of the financing order.
Yang Delong, chief economist of Qianhai Open Source, said in an interview with a reporter from Beijing Business Daily that the forced liquidation of financing refers to the fact that some investors who have increased their financing and leverage, after the stock price plummeted, cannot make up the margin, and there will be a situation of forced liquidation, and passively sell all of them, which may cause the acceleration of related products.
Yang Delong further said that this round of the market is larger, through financing leveraged investors, facing a relatively large pressure to close positions, especially some financing disk is relatively large, the probability of passive liquidation of stock prices resulting in a sharp fall is greater, once forced liquidation, investors' funds may face the risk of losing out, it is recommended that investors invest with spare money, rational investment, beware of the risk of forced liquidation.
It is worth mentioning that on January 30, Bloomage Biotech hit a low of 556 yuan shares, which set a record low for the company's stock price. According to the data, Bloomage Biotech has landed on the Science and Technology Innovation Board on November 6, 2019, and in the first two years of listing, the company's stock price has continued to rise, once rising to 31536 yuan shares (post-compounding**) However, since July 2021, Bloomage Biotech's share price has gradually declined, and it has been more than eighty percent from its historical high.
It is difficult to hide the decline in performance.
As one of the three musketeers of medical cosmetology, the industry often compares Bloomage Biotech with Aimeike and Haohai Biotech. Judging from the operation in the first three quarters of 2023, Bloomage Biotech could not hide the decline in performance, becoming the only company among the three musketeers whose net profit declined in the first three quarters of last year.
Financial data show that in the first three quarters of 2023, Bloomage Biotech achieved an operating income of about 422.1 billion yuan, down 229%；The corresponding attributable net profit is about 51.4 billion yuan, down 2407%。
On the other hand, the net profit gap between Bloomage Biotech and Aimeike is relatively large. Financial data show that in the first three quarters of last year, Aimeike's operating income was about 21700 million yuan, a year-on-year increase of 4571%；The corresponding attributable net profit was approximately 141.8 billion yuan, a year-on-year increase of 4374%。In terms of Haohaishengke, Haohaishengke's net profit level is inferior to that of Bloomage Biotech, but the net profit growth rate is faster. The operating income of Haohai Biotech in the same period was about 198.2 billion yuan, a year-on-year increase of 2523%；The corresponding attributable net profit realized is about 32.7 billion yuan, a year-on-year increase of 10204%。
As for the reasons for the decline in net profit in the first three quarters of 2023, Bloomage Biotech said that it was mainly due to the decline in the company's operating income and comprehensive gross profit margin. In the company's 2023 semi-annual report, Bloomage Biotech mentioned that in the first half of 2023, the company's functional skin care products business achieved revenue of 196.6 billion yuan, down 756%, accounting for 6392% and a gross margin of 7449%, down 425 percentage points.
According to the data, the raw material business, medical terminal business, functional skin care products business and functional food business are the four major business segments of Bloomage Biotech. Among them, the functional skin care products business is the largest business of Bloomage Biotech. In the first half of 2023, the sales of brands under Bloomage Biotech's functional skin care products business will decline across the board, which will also put pressure on the company's operation to a certain extent.
Bloomage Biotech said that in terms of operation, in the first half of 2023, affected by weak consumption and consumers' conservative purchase intentions, the optional consumer goods market represented by skin care products will be affected to a certain extent, the traffic dividend will slow down, the traffic cost will be higher, and the internal organizational structure and operation management need to be further upgraded. The company will adhere to the strategic focus, enhance key capabilities, so as to enhance the core competitiveness, create large single products and large single product series on the product side, and increase the proportion of large single products and large single product series; On the channel side, optimize the channel structure and increase the proportion of its own channels; The brand side sharpens the sharp angle of the brand, focusing on the mental occupation of core users, so as to lay a solid foundation for the next level.
Efforts in the field of recombinant collagen.
Under the sluggish performance growth, Bloomage Biotech is looking for new performance growth points.
In 2022, Bloomage Biotech officially entered the field of animal-derived collagen industry by acquiring a controlling stake in Beijing Yierkang Bioengineering***. Since then, collagen has become a high-frequency word for the company's external voice. For example, the company's 2022 annual report shows that the collagen project has entered the pilot test and is steadily advancing, and mass production planning is being carried out. In the future, we will focus on the basic research of recombinant collagen, incubate more recombinant collagen terminal product projects, and enrich the layout of recombinant collagen terminal products.
In response to investors' questions in December last year, Bloomage Biotech said that the collagen water and light products developed by the company are in the preclinical research stage, and at the same time, with the help of synthetic biology technology, the company has successfully developed recombinant human collagen raw materials with its own intellectual property rights.
Earlier, Bloomage Biotech said that the company completed the listing of recombinant type III human collagen raw material products (medical device grade) in August 2023, which has the effects of repair, promoting wound healing and promoting collagen regeneration. In addition, the company has a collagen-related research layout in Class III medical device injection products, medical dressings (**) and functional skin care products, and will gradually launch related products.
In the view of Zhang Xinyuan, the head of research at the Kefangde think tank, in China, the market size of recombinant collagen beauty products is growing year by year, and the market prospect is broad. However, the competition on the track is also becoming increasingly fierce, and many domestic and foreign companies have laid out, developed and promoted related products. Zhang Xinyuan said that the production and purification of recombinant collagen has high technical requirements, large R&D investment, and long cycle. Domestic enterprises need to make continuous breakthroughs in technology research and development to improve product quality and performance. It is suggested that domestic enterprises should actively carry out technological innovation, improve product quality, and strengthen brand building to seize market share and promote the healthy development of the industry. At the same time, enterprises also need to strengthen cooperation with scientific research institutes to jointly promote the formulation of industry standards and the optimization of the policy environment.
Beijing Business Daily reporter Ding Ning.