Understanding the Market | GIANT BIOGENE falls over 4% against the trend, hitting a new low in 9 months, as the market focuses on the potential recovery of sales during Double Eleven

GIANT BIOGENE fell over 4% against the trend, hitting a low of HKD 47.92, a new low since January this year. As of the time of writing, it has dropped 4.09%, trading at HKD 48.1, with a transaction volume of HKD 457 million. On the news front, the curtain for the 2025 "Double 11" shopping festival has quietly been raised. According to Zheshang Securities, the Q3 off-season for cosmetics is relatively weak. Data from Chan Mama shows that the growth rate of some key brands on the Douyin channel weakened in Q3, with GIANT BIOGENE's Q3 Douyin GMV increasing by 15% year-on-year, of which KeFuMei increased by 5% year-on-year and KeLiJin increased by 78% year-on-year. GIANT BIOGENE will focus on the Double 11 efforts in the second half of the year. It is worth noting that the restructuring of KeFuMei's collagen has recently stirred up waves again. Huaxi Bio stated at the end of September that it has collaborated with several third-party testing institutions, including the National Institute of Metrology, to test relevant products from related companies, with dozens of test results showing that the amount of recombinant collagen in the relevant products did not meet standards. Huaxi Bio stated, "We have submitted dozens of test reports to the National Medical Products Administration."