KELUN PHARMA(SZ:002422) Sou Hu Cai Jing·2025-05-14 23:37Core Viewpoint - Kelong Pharmaceutical is officially entering the anti-aging sector, marking its fourth entrepreneurial journey after previous successes with Kelong Pharmaceutical, Kelong Botai, and Chuaning Biological. This move comes in response to declining profits and prospects in its traditional intravenous product line [1][4]. Company Overview - Kelong Pharmaceutical, founded by Liu Gexin in 1996, has evolved from a manufacturer of intravenous solutions to a diversified pharmaceutical company. The company went public in 2010 and has since expanded its product offerings, including antibiotics and innovative drugs [3]. - In the first quarter of this year, Kelong reported a revenue of 4.4 billion yuan, a year-on-year decline of 29.42%, with a net profit of 584 million yuan, down 43% [4]. Industry Insights - The anti-aging industry is distinct from the traditional perception of aesthetic medicine, focusing on comprehensive life science applications aimed at systemic interventions to delay aging. The industry is still in its infancy, facing challenges such as a lack of skilled professionals and fragmented knowledge [5][7]. - By the end of 2024, China's anti-aging market is projected to reach approximately 600 billion yuan, accounting for 9% of the silver economy market. This figure is expected to grow to 4.6 trillion yuan by 2035, representing 15% of the silver economy [8]. Market Dynamics - The anti-aging market is characterized by a dual focus on medical and non-medical sectors, with the former relying on foundational medical research and the latter encompassing various fields such as sociology and artificial intelligence [8][9]. - China ranks second globally in the number of clinical trials related to anti-aging, with 37 trials registered from 2019 to the present, indicating a growing interest and investment in this sector [9]. Challenges and Opportunities - The anti-aging industry faces regulatory hurdles, particularly concerning the sale of products like NMN, which have not received the necessary approvals for domestic sales [10]. - There is a growing trend of hospitals establishing anti-aging clinics, although many public hospitals still lack dedicated anti-aging centers, highlighting a gap in service provision [11][12].