Gelonghui, November 2 | According to Wanlian Securities Research Report, Huaxi Biotech (688363.SH)'s Q3 performance is under pressure in the short term, waiting for the results to show after the reform and maintain the “buy” rating. The year-on-year decline in performance was significant, and short-term pressure was felt. It is speculated that it was mainly due to weak consumption and the impact of the company's active adjustments to the functional skincare business. The company currently has 7-8 types of collagen under development, has achieved macromolecular recombinant collagen preparation, and completed the launch of recombinant type III human collagen raw materials in August. In the future, it will promote the application of self-produced recombinant human collagen ingredients in skincare products. Furthermore, the company's medical and aesthetic business has experienced adjustments at the product level, channel level, and organizational structure level in the past. Currently, the product pipeline plan is basically clear. The bank expects the company's medical and aesthetic business revenue to grow well in 2023.