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江西生物冲刺港交所 公司为中国及全球最大的人用TAT提供商
Zhi Tong Cai Jing·2025-04-13 00:42

Core Viewpoint - Jiangxi Biological Products Research Institute Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC and China Merchants Securities International as joint sponsors [1] Company Overview - Jiangxi Biological is the largest provider and exporter of human tetanus antitoxin (TAT) in China and operates a fully integrated antiserum platform. The company has over 50 years of expertise in the research, production, and sales of antiserum products, establishing a solid market position domestically and internationally [4][5] - Antiserum products are derived from immunized plasma and are used to provide immune protection and treatment against critical infectious diseases, including tetanus, snakebite, and rabies, which pose significant public health challenges, especially in developing countries [4] Market Potential - The global human antiserum market is projected to grow from USD 321 million in 2019 to USD 409 million in 2024, with a compound annual growth rate (CAGR) of 4.9%. It is expected to reach USD 821 million by 2028 and USD 2.095 billion by 2033, with respective CAGRs of 19.1% and 20.6% [5] - The Chinese human antiserum market is anticipated to grow from USD 48 million in 2019 to USD 64 million in 2024, with a CAGR of 5.9%. By 2028, it is expected to reach USD 132 million and USD 291 million by 2033, with CAGRs of 19.9% and 17.0% respectively [5] Market Share - Jiangxi Biological is the largest provider of human TAT in China and globally, holding market shares of 65.8% and 36.6% respectively based on 2024 sales volume. The company has maintained over 50% market share in the Chinese human TAT market for 18 consecutive years [5][6] - The company exports human TAT to over 30 countries and regions in Asia and Africa, accounting for nearly 100% of China's export volume. It is the largest provider in the Philippines and Egypt, with approximately 90% market share in those regions [6] Financial Performance - For the fiscal years 2022, 2023, and 2024, Jiangxi Biological reported revenues of approximately RMB 142 million, RMB 198 million, and RMB 221 million respectively. The net profits for the same years were approximately RMB 26.5 million, RMB 55.5 million, and RMB 75.1 million [6][7]