[CITIC Securities Beauty] Lafang Home: Strategic Investee Peiyuan Bio's Recombinant Type III Collagen and Hyaluronic Acid Implant Approved

English summary

In April 2025, Lafang Home made a strategic investment of RMB 3.5 million in Peiyuan Bio. After the investment, Lafang Home holds 18.7768% equity in Peiyuan Bio, becoming its second largest shareholder. According to NMPA announcement on July 29, 2026, Peiyuan Bio's "Recombinant Type III Alpha 1 Subtype Humanized Collagen and Sodium Hyaluronate Implant" obtained a medical device registration certificate from NMPA, with registration number: 20263131546. The product is a composite implant of recombinant type III collagen and hyaluronic acid, combining immediate filling and long-term regeneration effects, with indications for improving cheek smoothness, fine lines, and mild depression. The formal approval marks Lafang Home's successful entry into the medical aesthetics track and the commercial stage of the product.