New product approval: Could Giant Biogene emerge from the 'public opinion shadow'?

On January 16, the first 'recombinant collagen protein stock' in the Hong Kong stock market$GIANT BIOGENE (02367.HK)$surged significantly during early trading, once rising more than 5.4%, but then reversed downward; as of this report, the stock's gain narrowed to 1.28%, trading at HKD 36.5 per share.

Behind this unusual stock price movement was the announcement of a major product approval disclosed by the company the previous day, injecting a strong dose of confidence amidst negative publicity.

The announcement revealed that Shaanxi Giant Biogene, a wholly-owned subsidiary of Giant Biogene, received the 'Medical Device Registration Certificate of the People's Republic of China' from the National Medical Products Administration (NMPA) on January 15 for its recombinant Type I α1 subtype collagen protein and sodium hyaluronate composite solution product.

Giant Biological stated,This product approval represents another significant breakthrough following the approval of the recombinant Type I α1 subtype collagen protein freeze-dried fiber, further expanding the company’s product portfolio.，It demonstrates the group’s continued technological R&D and industrialization capabilities.，At the same time, it opens up broader market opportunities, injecting new growth momentum into the company’s business development in the skin revitalization field.。

As the leading company in the recombinant collagen protein sector, Giant Biogene has established its industry leadership through its self-developed 100% human-sourced recombinant collagen protein technology. Its brands, such as Careme and Caregen, use the company's core raw material, recombinant collagen protein, as their primary functional ingredient.

In recent years, recombinant collagen protein has gained increasing favor among female consumers due to its superior biocompatibility, with market share continuing to rise. Leveraging the high industry growth, Giant Biogene has maintained a healthy trend of dual revenue and profit growth for many years.

However, in May 2025, a post by a major beauty influencer threw Giant Biogene into the center of public controversy.The influencer questioned whether the recombinant collagen protein content in Careme, one of Giant Biogene’s core brands, was 'too low.'

As the issue continued to escalate, the Careme brand suffered a significant blow, placing direct pressure on the company’s short-term operations. The stock price also dropped sharply, entering a continuous downward trend. As of now, Giant Biogene's stock price has fallen nearly 57% from its historical high of HKD 85.79 on May 20, 2025—effectively halving in value.

Some analysts suggest that the approval of this new product could bring fresh opportunities for Giant Biogene. Following the approval, the product received institutional recognition.。

In a research report issued on January 15, CICC noted that they view the approval of this product as further expanding the medical aesthetics product portfolio, reaffirming Giant Biogene's leading R&D capabilities. CICC believes that the previous approvals of two medical aesthetics products have already validated the company’s technological superiority and safety. Additionally, the strong reusability of channel resources and operational experience suggests that subsequent pipeline launches could further expand the second growth curve of the medical aesthetics business.

Haitong International also stated in a research report on January 14 that Giant Biogene is a leader in the recombinant collagen protein industry, possessing significant advantages in safety, efficacy, and sustainability. In response to the temporary pressure from the 2025 collagen content controversy, the company is accelerating its 'multi-brand, multi-category, multi-channel' strategy. In 2026, it plans to launch one medical device and five skincare series while initiating expansion into Southeast Asia and North American KA channels.

Author: Pingzi

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