Changes in Hong Kong stocks | Giant Biotech (02367) fell more than 4%, but the controversy over collagen sticks in the US is inconclusive, 618 sales are weaker than expected

The Zhitong Finance App learned that Giants Biotech (02367) has dropped more than 4%, down more than 40% from its May high. As of press release, it decreased by 4.39% to HK$50.05, with a turnover of HK$439 million.

According to the news, discussions on “recombinant collagen” have recently attracted widespread attention in the medical and aesthetic industry. Beauty blogger “Dr. Big Mouth” Hao Yu previously raised technical questions about Giant Biotech, further fueling the controversy. In response to the recent controversy, Huaxi Biotech stressed in response to media interviews that the company resolutely opposes playing a “name game” when naming ingredients, and denies that the relevant initiatives are motivated by a “commercial war.”

Goldman Sachs released a research report saying that after recently questioning on social media that the actual collagen content of Kefumei's recombinant collagen repair essence was too low, it lowered Giant Biotech's 2025-27 sales/net profit forecast by 7-8%/9-12% because the latest tracking data showed that sales during the 618 shopping festival were weaker than expected, which may have been affected by the above news. The bank said that although recent problems have delayed or slowed growth in the short term, it is expected that the upward cycle will remain intact in the medium to long term. Potential positive drivers include: the recovery of high-frequency online data; obtaining medical and aesthetic business licenses.