GIANT BIOGENE (02367) fell more than 3%, touching a yearly low of HK$35.54. Since late May, the stock has plummeted amid controversy over collagen ingredients, with its current price now halved from the May peak. At the time of writing, it was down 3.46% to HK$35.68, with a turnover of HK$199 million.
Market sources indicate that according to industry data, domestic brands secured five spots in the top 10 of this year's Double 11 Douyin beauty rankings. However, RejuvaBio, a brand under GIANT BIOGENE, dropped out of the top 10. On Tmall's beauty ranking, RejuvaBio ranked 18th, down five spots from last year. Additionally, reports note that RejuvaBio, which previously held a strong position on Douyin's beauty charts, has consistently fallen out of the top 20 since June.
Jianghai Securities suggests that competition in the recombinant collagen sector is intensifying, advising investors to monitor GIANT BIOGENE's future marketing strategies and sales performance for this product.
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