AHB(SH:688639) 智通财经网·2025-09-30 02:51Core Viewpoint - Anhui Huaheng Biotechnology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Huatai International as the sole sponsor [1]. Company Overview - Huaheng Biotechnology is a pioneer in synthetic biology, focusing on the research, large-scale production, and commercialization of bio-based products through biomanufacturing technology [3]. - The company has established an industry-leading position in research and development, technology innovation, and mass production capabilities over the past twenty years in the biomanufacturing field [3]. - According to Frost & Sullivan, Huaheng is one of the most comprehensive companies globally in commercializing bio-based products through synthetic biology [3]. Product Portfolio - The company's bio-based products include amino acids (mainly L-alanine and L-valine), vitamins (such as D-calcium pantothenate and D-panthenol), and other bio-based products like 1,3-propanediol and succinic acid [4]. - These products are widely used across various industries, including animal nutrition, personal care, food and beverage, advanced materials, and plant nutrition [4]. - Huaheng employs fermentation and enzyme catalysis as its two main green manufacturing technology platforms, focusing on microbial cell factories and enzyme-based production processes [4]. Market Potential - The global bio-based products market is projected to grow from USD 22.8 billion in 2020 to USD 42.1 billion by 2024, with a compound annual growth rate (CAGR) of 16.6% [5]. - The market is expected to further increase to USD 80.1 billion by 2030 and USD 109.1 billion by 2035, with CAGRs of 11.3% from 2024 to 2030 and 6.4% from 2030 to 2035 [5]. - Companies with green manufacturing capabilities, large-scale production technologies, and collaborative advantages in the supply chain are anticipated to experience unprecedented growth opportunities in this context [5]. Financial Performance - The company's revenue for the years 2022, 2023, 2024, and the first half of 2025 was approximately RMB 1.419 billion, RMB 1.938 billion, RMB 2.178 billion, and RMB 1.489 billion, respectively [5]. - The corresponding profits for the same periods were about RMB 319 million, RMB 447 million, RMB 185 million, and RMB 109 million [5]. - The gross profit margins for these years were 38.7%, 40.4%, 24.8%, and 23.5%, respectively, indicating fluctuations in profitability [7].