AHB(SH:688639) Zhi Tong Cai Jing·2025-09-30 02:55Core Viewpoint - Anhui Huaheng Biotechnology Co., Ltd. (Huaheng Bio) has submitted an application for listing on the Hong Kong Stock Exchange, with Huatai International as the sole sponsor [1]. Company Overview - Huaheng Bio is a pioneer in synthetic biology, focusing on the research, large-scale production, and commercialization of bio-based products through biomanufacturing technology. The company has established a leading position in the industry over the past 20 years [3]. - The company is recognized as one of the most comprehensive enterprises in the commercialization of bio-based products through synthetic biology, being the first globally to industrialize the anaerobic fermentation of a series of amino acids, including L-Alanine and L-Valine. By 2024, it is projected to hold the largest market share for L-Alanine and L-Valine globally [3]. Product Portfolio - As of June 30, 2025, Huaheng Bio has established stable long-term partnerships with over 768 customers across 85 countries in Asia, Europe, and the Americas. Its main bio-based products include amino acids (primarily alanine series, L-Valine, tryptophan, arginine), vitamins (D-Calcium Pantothenate, D-Pantothenol, inositol), and other bio-based products (1,3-propanediol, succinic acid, malic acid, arbutin) [4]. - The company employs two green manufacturing technology platforms: fermentation and enzyme catalysis, focusing on microbial cell factories and enzyme-based production processes to reduce pollution, lower energy consumption, and minimize carbon footprints [4]. Market Potential - The global bio-based products market is expected to grow from $22.8 billion in 2020 to $42.1 billion by 2024, with a compound annual growth rate (CAGR) of 16.6%. It is projected to further increase to $80.1 billion by 2030 and $109.1 billion by 2035, with CAGRs of 11.3% and 6.4% respectively [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 market [5]. Financial Performance - The company reported revenues of approximately RMB 1.419 billion, RMB 1.938 billion, RMB 2.178 billion, and RMB 1.489 billion for the years 2022, 2023, 2024, and the first half of 2025, respectively. The corresponding profits for these periods were approximately RMB 319 million, RMB 447 million, RMB 185 million, and RMB 109 million [5][7].