56 countries have joined forces to hunt Russia in the dark. This is not alarmist talk, but the cruel truth revealed by the former Russian Defense Minister and current Security Council Secretary Shoigu himself. Just on March 17th
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On September 28, 2020, Amic was listed on the GEM with a market value of 40.8 billion yuan. In the following nine months, the stock price soared 4 times. In March 2021, it became the third thousand-yuan stock after Moutai, with a peak market value exceeding 170 billion. This company, dubbed "Moutai for Medical Aesthetics", wrote a legend in the capital market during the golden age of medical aesthetics with its ultra-high gross profit margin of 94.85% and net profit margin of 60%.
The core secret of Amic's success lies in the moat built by the registration certificate of Class III medical devices. Its signature product "HiTi", as the first neck wrinkle repair injection in China, has monopolized the market for a long time since it was approved in 2016. Between 2017 and 2020, revenue from solution products soared from 34 million to 447 million, with an average annual compound growth rate of 129%. This "exclusive market + pricing power" model perfectly replicates Moutai's core logic. However, with the continuous emergence of similar competing products, Amic’s high-growth myth is gradually reaching its final chapter.
The myth of high growth is no longer the revenue and net profit growth rate dropped to single digits for the first time
The annual report disclosed on March 19 shows that Amic will achieve operating income of 3.026 billion yuan in 2024, with the year-on-year growth rate plummeting from 47.99% in 2023 to 5.45%; net profit attributable to the parent company is 1.958 billion yuan, with the growth rate slipping from 47.08% to 5.33%. This is the first time since 2016 that the company's annual revenue and net profit growth has dropped to single digits.
What is particularly noteworthy is that in the fourth quarter, the company's single-quarter revenue was 650 million yuan and net profit was 372 million yuan, a year-on-year decrease of 7% and 15.47% respectively, setting a quarterly double decline record for the first time since its listing. Judging from previous quarterly data, Amic’s growth stall has actually been evident for a long time. In the first quarter of 2024, the company's revenue growth rate was 28.24%, and the net profit growth rate was 27.38%; in the second quarter, the company's revenue growth rate was 2.35%, and the net profit growth rate was 8.03%; in the third quarter, the company's revenue growth rate was 1.10%, and the net profit growth rate was 2.13%. In 2024, the growth rate last year showed a trend of declining quarter by quarter.
Judging from the cash flow situation, the company's net cash flow from operating activities in 2024 will be 1.927 billion yuan, a year-on-year decrease of 1.38%, which is the first year-on-year decline in history. The reasons behind this include a significant increase in period expenses and an increase in inventory. In terms of period expenses, the company's sales expenses and R&D expenses in 2024 will be 277 million yuan and 304 million yuan respectively, both reaching record highs. However, from the perspective of results, the marginal effect of sales expenses driving revenue growth is weakening, and the growth rate of sales expenses in 2023 and 2024 is higher than the revenue growth rate.
Research and development expenses have maintained a year-on-year double-digit growth rate in the past three years, but new products have not yet formed large-scale revenue, and it may be difficult to bring substantial benefits in the short term. In terms of inventory, the company's inventory at the end of 2024 was 72.843 million yuan, accounting for an increase of 0.14% to 0.87% of total assets. Among them, the ending inventory of goods was 32.0488 million yuan, a year-on-year increase of about 45%. Display terminal sales have slowed down.
"High Body" cannot reverse its decline by exchanging price for volume. "Wet Day Angel" has weak growth
Judging from the products, as the first neck wrinkle repair product in China, Amic’s “HiTi” was once the company’s “cash cow”. After being launched in 2017, its sales soared from 119,700 units to 5.14 million units in 2023, accounting for more than 70% of revenue at one time. However, the 2024 annual report data disclosed that the annual sales volume of solution injection products with "Hi Body" as the core was 6.3463 million units, a year-on-year increase of 24.44%, but the revenue only increased by 4.4% to 1.744 billion yuan.
The converted average ex-factory price dropped to 275 yuan/piece from 325 yuan/piece in 2023, a decrease of 15.4%. During the same period, inventory increased significantly by 91.40%. It can be seen that since Huaxi Biotechnology’s neck wrinkle repair product “Runzhi·Gege” was approved in July 2024, the market competition landscape has been facing reshaping, and Amic’s price-for-volume strategy has had very limited results.
Judging from the revenue structure of Amic, in 2024, the company's solution injection products with "High Body" as the core and gel injection products with "Moisturizing Angel" as the core will achieve revenue of 1.743 billion yuan and 1.216 billion yuan respectively, accounting for 57.64% and 40.18% of total revenue respectively, which are the company's pillar businesses.
Among them, "Moistening Angel" (cross-linked sodium hyaluronate gel containing L-lactic acid-ethylene glycol copolymer microspheres) obtained the Class III medical device registration certificate in June 2021. In the following years, product revenue showed a rapid growth trend and is regarded as the company's second growth curve. However, "Soaking Angel" also experienced sluggish growth in 2024. The sales volume of gel injection products in 2024 was only 893,600 units, a year-on-year decrease of 11.24%, and the revenue growth rate also plummeted from 81.43% in 2023 to 5.01%.
From an industry perspective, the pressure on Amic's two core products is a concentrated reflection of the increasing market competition, slowing industry expansion, and tightening supervision. Hyaluronic acid was once the "golden track" of the medical aesthetics industry, but now it has fallen into serious involution. As of 2024, more than 50 hyaluronic acid Class III medical device certificates have been approved domestically, and there are more than 400 circulating brands. This has also led to an increase in the choice of medical aesthetics institutions, and the bargaining power of upstream manufacturers has continued to weaken.
From the perspective of industry growth, a review of the medical aesthetics industry in 2024 shows that affected by the macro environment, the overall growth rate of the industry has slowed down significantly. According to estimates by Allergan and Deloitte, the overall growth rate of the medical aesthetics market in 2024 is about 10%. Although it still maintains double-digit growth, it has dropped significantly compared with the 20% growth rate in 2023. At the regulatory level, in 2024, the State Food and Drug Administration will strengthen the approval of the "Three Device Certificates" to crack down on illegal medical beauty institutions, and the pressure on upstream manufacturers to rectify channels will increase significantly.
The plight of Aimeike is essentially the epitome of the medical beauty industry entering its mature stage from the outbreak period. As the medical beauty industry enters the second half of its journey, the era of "making money while lying down" will be gone forever. At present, about 98% of Amic's revenue still relies on hyaluronic acid products. Among the 10 products under development mentioned in the annual report, only Bonida 2.0 for chin filling will be approved at the end of 2024. However, this product is essentially an expansion of the indications of existing products and is not a revolutionary innovation.
Among the company's reserve products, botulinum toxin, collagen and other products are facing fierce competition, making it difficult to cultivate popular varieties similar to "High Body". It is still doubtful whether the acquisition of 85% equity of South Korea's REGEN company at a high premium of 1.386 billion can open a new growth curve. Under the new market competition landscape, Amic still faces many challenges if it wants to maintain its leading position in the industry.
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Nowadays, moving logistics has become a very rare thing, and in order to facilitate disassembly and assembly, modular furniture has also appeared. Many people are confused about what are the advantages of modular furniture, and what are the effects of disassembly and assembly of modular furniture that we need to pay special attention to. Here, we are here to answer our questions and see what the advantages are and how we should operate them. What are the advantages of modular furniture? 1. It can make full use of wood. A few of them use natural boards as the main raw materials. They will be formed through professional processing in the early stage. It can not only reduce the waste of wood, but also improve its quality to a great extent. The utilization rate is very high, and for us, the use of modular furniture is relatively convenient for disassembly and assembly. It is not only convenient for our early transportation, but also very convenient in the later installation. This is why so many people choose modular furniture. 2. For ordinary solid wood furniture, it is easily affected by temperature and humidity, and may easily deform. However, for modular furniture, it breaks through the original physical structure.
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56 countries have joined forces to hunt Russia in the dark. This is not alarmist talk, but the cruel truth revealed by the former Russian Defense Minister and current Security Council Secretary Shoigu himself.
On March 17, Shoigu dropped a bombshell to the world at the security conference in Yekaterinburg. He made it clear that Russia was facing an "undeclared war." A total of 56 countries formed a huge and secret destruction system. They used the long-term experience of special forces in infiltration, sabotage and terrorist attacks to target Russia's core interests and critical infrastructure.
How brutal was this invisible "shadow war"? The data revealed by Shoigu is spine-chilling: attacks on Russian facilities quadrupled in 2025, reaching 23,000! He made it clear that Ukraine's intelligence network is the biggest driver of the instability. Not only do they rely on remote information warfare to carry out ideological brainwashing, they even engage in extremely despicable "fraud schemes."
Ukrainian agents will first use online fraud to empty the wallets of vulnerable Russian groups. When these people are desperate, they will throw out the bait: as long as you do things for Kiev and cause sabotage, the money will be returned to you. What’s even more cruel is that this is often a one-way ticket. Russia's Federal Security Service has confirmed that Ukrainian operators often secretly design "suicide" missions. Once the sabotage operation is successful, the person who performed the task will also be silenced, leaving no evidence.
It's hard to defend internally, and there are overt and covert attacks on the outside. As the Ukrainian army frantically increases its attacks with long-range weapons, especially the increasingly complex and bizarre deployment of drone swarms, the air defense network is being stretched to its limits. Shoigu even admitted that even the Ural Heavy Industrial Zone is no longer safe. This is almost a declaration that there is no absolute rear in Russia.
Coupled with the ongoing undercurrent of conflicts in the Middle East, Moscow's security barrier is facing unprecedented multi-line high pressure. Shoigu has sounded the highest level of alarm internally: any slightest underestimate of the threat, any slightest laxity in defense may lead to an irreversible tragedy. The battlefield outside the smoke of gunfire is often more deadly than the front line. Facing this intelligence network jointly created by 56 countries, can Russia still be able to defend itself?
In the field of gold investment, short-term operations seem to be full of opportunities, but many investors are trapped in back-and-forth losses. To dissect the causes of this phenomenon and find improvement strategies requires in-depth analysis from multiple aspects.
First, analyze the reasons for the loss.
Lack of a clear trading plan is one of the common problems. When many investors conduct short-term gold speculation, they do not set entry points, exit points, stop loss and take profit positions in advance, and only conduct transactions based on intuition or temporary decisions. This results in excessive randomness in transactions and difficult to control risks.
Inaccurate judgment of market trends is also an important factor. The gold market is affected by many factors, such as the global economic situation, political situation, monetary policy, etc. If investors cannot accurately grasp the impact of these factors on market trends, they will easily make wrong trading decisions.
An unstable mentality can also cause losses. In short-term trading, prices fluctuate frequently. If investors cannot stay calm, they are easily swayed by the short-term fluctuations of the market. As a result, they trade frequently or are unwilling to stop losses when they are losing money, and take profits too early when they are making profits.
Next, look at how you can improve by adjusting your strategy.
It is crucial to have a detailed trading plan. Clarify the time period of the transaction, entry and exit conditions, stop loss and take profit levels, etc. in the plan. For example, set a profit stop when the price of gold rises by 5% and a stop loss when the price falls by 3%.
Strengthen research and analysis of market trends. Pay attention to important information such as global economic data and central bank policies, and learn to use technical analysis tools, such as moving averages, Bollinger Bands, etc., to improve your ability to judge market trends.
Pay attention to the adjustment of mentality. During the trading process, maintain a peaceful mind, strictly follow the trading plan, and do not be influenced by emotions.
Let’s use the table to compare the strategies before and after the adjustment:
Before adjustment After adjustment
trading plan
No clear plan, random transactions
Set entry, exit, stop loss, and take profit conditions in detail
Trend judgment
Based on feeling, lack of systematic analysis
Accurate judgment based on economic data and technical analysis tools
Mentality control
Easily swayed by emotions
Stay calm and stick to the plan
In short, to solve the problem of short-term losses in gold speculation, investors need to deeply reflect on their own trading behavior, identify the problem, and improve it through reasonable strategic adjustments. Only in this way can profits be gradually realized in short-term gold trading.
On March 20, the People's Bank of China authorized the National Interbank Funding Center to announce the new loan market quoted interest rate (LPR), which remained unchanged from the previous period. The 1-year LPR was 3.0% and the 5-year and above LPR was 3.5%. At present, the LPR quotation has remained unchanged for 10 consecutive months.
From the perspective of economic fundamentals, my country's economic performance has been generally stable since the beginning of the year, and foreign trade import and export data have performed better than expected. In January this year, the central bank issued a package of monetary and financial policy measures, including lowering interest rates on various structural monetary policy tools by 0.25 percentage points. Market institutions generally believe that there is little urgency in adjusting policy interest rates and LPR quotations in the short term, and there is a high probability that they will continue to remain stable.
From the perspective of interest rates, current social financing costs remain low. In February this year, the weighted average interest rate of new corporate loans was about 3.1%, about 20 basis points lower than the same period last year; the weighted average interest rate of new personal housing loans was about 3.1%, about 10 basis points lower than the same period last year.
Recently, the Party Committee of the People's Bank of China held an enlarged meeting and made it clear that it will guide and regulate interest rate levels based on changes in the economic and financial situation and macroeconomic operations. "The central bank will strengthen the implementation and supervision of interest rate policies, standardize financing intermediate fees, and ultimately achieve the goal of promoting the low operation of comprehensive social financing costs." Dong Ximiao, chief economist of China Merchants Union, told the Securities Times reporter that if the economic operation faces new downward pressure or changes in the external environment, comprehensive interest rate cuts and reserve requirement ratios may still be implemented, but RRR cuts should precede interest rate cuts. It is expected that the LPR will not decrease significantly during the year, perhaps 5 to 10 basis points.
Shenzhen Commercial Daily reporter Zhang Yan
May 12th is the 113th International Nurses Day. This year’s theme is “Developing the Nurse Team and Optimizing Nursing Services”.
The latest data released by the Municipal Health Commission on May 11 shows that as of the end of 2023, there were 54,649 practicing nurses in the city, including 3,272 men and 51,377 women, responsible for 126.75 million outpatient and emergency care and 2.26 million hospitalizations in the city.
In Shenzhen, nurses not only only know how to give injections and medicines, but specialist nurses can also go to outpatient clinics and write prescriptions.
In recent years, there have been more and more “new generation” nurses with master’s or doctoral degrees and innovative patents. The academic qualifications and professional titles of nurses in Shenzhen are both higher than the provincial average.
Currently, there are 7 people with doctorate degrees, 322 people with master's degrees, and 17,514 people with bachelor's degrees in the city's nursing team. 32.65% have a bachelor's degree or above, which is 4 percentage points higher than the provincial average. At the same time, there are 365 chief nurses, 2,268 deputy chief nurses, and 15,715 supervisor nurses. The proportion of intermediate and above professional titles reaches 33.57%, which is 13 percentage points higher than the provincial average.
Nurses can better serve as academicians. Shenzhen has four Fellows of the American Academy of Nursing ("FAAN"), one of the most prestigious honors in the global nursing community. They are Fu Xia, director of the Nursing Department of the Eighth Affiliated Hospital of Sun Yat-sen University (hereinafter referred to as "CUHK Eighth Hospital"), Cai Wenzhi, deputy director of Shenzhen Hospital of Southern Medical University, Xie Xiaohua, director of the Nursing Department of Shenzhen Second People's Hospital, and Wu Huiping, former director of the Nursing Department of Shenzhen People's Hospital.
Why them?
It is understood that the American Academy of Nursing was founded in 1973 to attract global talents to guide the development of nursing disciplines, participate in the formulation and implementation of health care policies, and use nursing knowledge to promote human health. As of 2023, there are more than 3,000 academicians of the American Academy of Nursing from more than 40 countries and regions around the world, including about 89 from mainland China.
Among the four academicians in Shenzhen, Fu Xia and Cai Wenzhi were elected in 2022, while Xie Xiaohua and Wu Huiping were elected in 2023.
What kind of nurse can become an academician? A few days ago, the reporter had an exclusive interview with Fu Xia. She said: "Every October, the selection of new academicians of the American Academy of Nursing officially begins. Candidates must be recommended by two current academicians. The academician selection committee will then review the evidence of their significant contributions to the development of nursing and human health. Generally, the list of newly elected academicians and international academicians of the previous year will be announced in June of the following year."
In general, each elected candidate must make outstanding contributions in his/her professional field.
Fu Xia has made outstanding achievements in the field of hemodialysis. She has served as the chairperson of the Hemodialysis Nursing Committee of the Guangdong Nursing Association for three consecutive terms. Since 2013, she has served as the deputy chairperson of the Blood Purification Committee of the Chinese Nursing Association. She has written or participated in many expert consensuses, standards and specifications.
Cai Wenzhi mainly studies incontinence care, rehabilitation, midwifery rehabilitation, advanced midwifery practice and nursing equipment research and development, and occupational safety and health of medical personnel. The development and promotion of her urinary incontinence rehabilitation nursing technology won the first prize of the Scientific Achievement Award of the Chinese Society of Rehabilitation Medicine. It has created a model unit for the National Health Commission’s midwifery undergraduate program in China and created an independent undergraduate midwifery education major for the Ministry of Education.
Xie Xiaohua has devoted himself to clinical research on stroke risk assessment and intervention measures, and emergency and critical care nursing procedures for many years. He has edited and published more than 10 professional books, presided over more than 20 scientific research projects, and won multiple national, provincial, and municipal science and technology worker awards. He also led the Nursing Department of the Municipal Second People's Hospital to be selected into the top 100 Chinese hospital science and technology rankings.
Wu Huiping is a nursing worker with super-high invention skills and has more than ten invention patents. He has successively invented a disposable throat sprayer with a long cannula; a "hand-relieving tool" for ICU patients to solve incontinence - a fecal drainage catheter with a pressure measuring balloon, and won the second prize of the National Science and Technology Progress Award. She leads the nursing team of the Municipal People's Hospital to actively develop small inventions that benefit patients, with 30 to 40 small inventions being produced every year.
As soon as I was out of confinement, I sat in the doctoral classroom
Fu Xia is the youngest of the four academicians, 46 years old this year.
She is a Ph.D. But when she enrolled in Tianjin Medical University as an undergraduate, she thought that nurses did not need a high degree of education, and a technical secondary school was enough.
When she failed the college entrance examination and was transferred to the nursing major, she was very disappointed at first. However, her alma mater was the first institution in the country to resume five-year undergraduate nursing education. The good atmosphere of the school and the guidance of her tutors gave her a firm sense of mission for nursing work.
After graduation, she came to work at the Institute of Geriatrics of Guangdong Provincial People's Hospital and became an ICU nurse.
In this place closest to death, she saw the helplessness of many elderly patients. As a highly educated nurse, her heart was full of helplessness. She didn't know what she could bring to the patients. Therefore, she came up with the idea of continuing to study to find answers. In 2004, she obtained a master's degree in nursing from Sun Yat-sen University.
The road to training has only a starting point and no end. She came up with the idea of taking the exam. But the doctorate will be out of work for half a year, where will the gap come from? After thinking about it, she decided to use the half-year maternity leave to study for a doctorate.
The pregnancy was one month later than expected, so the due date was late August, so she had to go to class before the baby was born. Her husband, who felt sorry for her, discussed with her whether she could study for a Ph.D. after the baby was born. At 36 weeks into her pregnancy, she gave birth by caesarean section. 28 days later, she entered the doctoral class of nephrology at Southern Medical University.
"I was lucky enough to catch the 'last train' that offered me a master's degree in nursing and a doctorate in clinical medicine." During her Ph.D. studies, she would always write papers early in the morning and show up at work at 8 a.m. the next day. "The best way to live is to work hard on the ground and do everything well."
The nursing team of the Provincial Medical Hemodialysis Center led by Fu Xia is not only among the best in the province in terms of professional capabilities, but she also drafted the provincial nursing standards related to hemodialysis. “Everyone thinks of me when they talk about hemodialysis nursing.” She is not satisfied, but hopes to move to a higher management platform, improve the leadership and morale of the entire nursing team, and enable every nurse to fall in love with their profession from the bottom of their hearts.
At this time, the Eighth College of CUHK extended an olive branch to her.
Led a nursing team with the largest number of PhDs in the city
The journey from Guangzhou to Shenzhen is only over a hundred kilometers, but it is a completely new environment.
In the new position, Fu Xia works harder. She not only has to attend daily morning meetings, weekly (department) head nurse meetings, and monthly hospital-wide head nurse meetings... She also ensures that each of the more than 60 head nurses and standing team leaders in the nursing department has the opportunity to communicate face-to-face with her at least three times a month.
Fu Xia has also opened appointments to more than 1,100 nurses in the hospital. If anyone encounters a problem or the morale of any department is low, she will arrange time to personally come to the door to "deliver chicken soup", "give chicken blood" and "special nutritional powder"...
Every Wednesday and Thursday morning is her fixed outpatient time; in the evening after get off work, she has to review the day's work, review meeting minutes, write papers, prepare lessons, and do PPT...
"I ask myself to go all out and devote myself to it every day, so that I will not be let down every 24 hours." After more than two years in Shenzhen, her colleagues gave her the title of "Shenzhen Paper King".
Not only did she take exams herself, she also led the nurses to take exams for academic qualifications, scientific research, and service.
Encouraging nurses to learn lifelong has become the "main theme" of her conference meetings. The Eighth College of CUHK has a benefit that provides annual performance rewards of 10,000 to 15,000 yuan to employees studying for master's and doctoral degrees. "You have the opportunity to study, and there are people who will help you pay for it. Why don't you go?" Fu Xia, a fast-talking person, said that as long as a nurse is willing to apply for a graduate degree, she will provide all-round guidance.
In the first year she came to the Eighth Hospital of CUHK, two nurses were admitted to the master's degree program, and one in the second year. In the third year, Jiang Dan, a nurse in the hemodialysis room, obtained a doctoral diploma. The hospital also introduced Dr. Li Caixia from the Nethersole School of Nursing of the Chinese University of Hong Kong through the Sun Yat-sen University "High-Level Talent Plan". She is the first nursing "postdoctoral" in the Shenzhen Medical System and the CUHK System.
Currently, Fu Xia leads a nursing team with the largest number of doctors in the city, including her, a total of three. In January, the hospital was also successfully approved for a master's degree program in nursing, becoming the first medical institution in Shenzhen to have a master's degree program in nursing.
In her first year in Shenzhen, Fu Xia applied to become an academician of the American Academy of Nursing and was successfully elected. However, due to force majeure, she was not able to attend the American Academy of Nursing Annual Meeting in 2023. She benefited a lot from this participation.
"In the communication session before the opening ceremony of the annual meeting, the participating representatives were divided into several groups of 10 people each to discuss different themes." She said that she participated in the genetic nursing group, which shocked her greatly. "We are still in the stage of advocating intervention, and they have developed to the stage of genetic nursing." She cherishes the opportunity to communicate with global nursing elites.
In September, she will go to the UK to participate in the Advanced Nursing Practice Network Workshop for Nursing Practitioners organized by the International Council of Nurses (ICN) and give a poster exchange.
She hopes to learn from the strengths of others, and she also hopes to show the appearance and level of Shenzhen’s nursing team and nursing work through herself.
"In 2011, nursing differentiated from clinical medicine and became a first-level discipline that includes scientific knowledge such as nature, humanities, society, and medicine." Fu Xia said that nurses are not "waiters" nor "odd workers."
At 8 p.m. on May 12, she will give a lecture on the main steps of the North District of Shenzhen Central Bookstore, leading the public into nursing and getting to know the "gods" and "goddess" who protect residents' health.
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