AHB(SH:688639) Ge Long Hui·2025-09-30 07:30Core Insights - Anhui Huaheng Biotechnology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Huatai International as the exclusive sponsor [1] Company Overview - The company is a pioneer in synthetic biology, focusing on the research, large-scale production, and commercialization of bio-based products through biomanufacturing technology [3] - It has established a leading position in the industry over 20 years, with strong R&D capabilities and mature mass production capabilities [3] - According to Frost & Sullivan, the company is one of the most comprehensive producers of bio-based products commercialized through synthetic biology globally [3] Market Position - The company is the first globally to industrialize a series of amino acids (including L-Alanine and L-Valine) through anaerobic fermentation [3] - By 2024, the company holds the largest market share for L-Alanine and L-Valine globally [3] Client Relationships - As of June 30, 2025, the company has established stable long-term partnerships with over 768 clients across 85 countries in Asia, Europe, and America [5] Product Portfolio - The company's bio-based products include: - Amino acid series (mainly alanine series, L-Valine, Tryptophan, Arginine) - Vitamin series (mainly D-Calcium Pantothenate, D-Pantothenol, Inositol) - Other bio-based products (mainly bio-based new material monomers like 1,3-Propanediol and Succinic Acid, Malic Acid, Arbutin) [5] - These products are widely used in various industries, including animal nutrition, personal care, food and beverage, advanced materials, and plant nutrition [5] Manufacturing Technology - The company employs two green manufacturing technology platforms: fermentation and enzyme catalysis, focusing on microbial cell factories and enzyme-based production processes [7] - Its biomanufacturing methods replace traditional chemical synthesis with renewable biological resources, reducing pollution, energy consumption, and carbon footprint [7] Financial Performance - The company's revenue and gross profit for the fiscal years are as follows: - FY2022: Revenue of RMB 1.418 billion, Gross Profit of RMB 548 million, Gross Margin of 38.7% - FY2023: Revenue of RMB 1.938 billion, Gross Profit of RMB 782 million, Gross Margin of 40.4% - FY2024: Revenue of RMB 2.178 billion, Gross Profit of RMB 540 million, Gross Margin of 24.8% - H1 2024: Revenue of RMB 1.016 billion, Gross Profit of RMB 321 million, Gross Margin of 31.6% - H1 2025: Revenue of RMB 1.489 billion, Gross Profit of RMB 350 million, Gross Margin of 23.5% [7] Use of Proceeds - The funds raised from the listing will be used for: - Accelerating global expansion and layout - Development of synthetic biology enabling technologies, new products, and solutions - Capacity upgrades - Working capital supplementation and other general corporate purposes [7]