GON(SZ:002768) Zhi Tong Cai Jing·2026-01-14 12:47Group 1: Company Overview - Qingdao Guoen Technology Co., Ltd. (002768.SZ) is focused on new chemical materials and gelatin, collagen upstream and downstream products, and has passed the listing hearing on the Hong Kong Stock Exchange [1] - The company serves the chemical and health industries, primarily engaged in the R&D, production, and sales of products for industrial and commercial use [3] Group 2: Industry Position - In the chemical industry, Guoen Technology is the second-largest company in China for organic polymer modified materials and organic polymer composite materials, with a market share of 2.5% as of 2024 [4] - The company is also the largest producer of polystyrene in China by production capacity as of 2024 [4] Group 3: Product and Market Focus - Guoen Technology focuses on the natural collagen industry, with a vertical integration strategy that covers collagen peptide derivatives to end products [5] - The company is the second-largest producer of bone gelatin in China and the second-largest domestic brand in the hollow capsule production industry as of 2024 [6] Group 4: Market Growth - The market size for organic polymer modified materials and organic polymer composite materials is projected to grow from RMB 303.8 billion in 2020 to RMB 544.8 billion in 2024, with a compound annual growth rate (CAGR) of 15.7% [6] - The market is expected to continue growing at a CAGR of 14.1% from 2025 to 2029, reaching RMB 1,037.5 billion by 2029 [6] Group 5: Financial Performance - Guoen Technology's revenues for the fiscal years 2022, 2023, 2024, and the first ten months of 2025 were approximately RMB 13.41 billion, RMB 17.44 billion, RMB 19.19 billion, and RMB 17.44 billion respectively [6][7] - The company reported net profits of RMB 724 million, RMB 540 million, RMB 721 million, and RMB 721 million for the same periods [6][8]