Core Viewpoint - The article highlights the rapid growth and competitive landscape of the recombinant collagen protein industry, focusing on two key players: Juzhi Biotechnology and Jinbo Biotechnology, both of which have achieved significant market milestones and financial success in recent years [1][2][5]. Company Overview - Juzhi Biotechnology was established in 2000 and specializes in the research, production, and sales of recombinant collagen and other bioactive components. It went public on the Hong Kong Stock Exchange in November 2022, becoming the first stock in the recombinant collagen sector listed there [4][5]. - Jinbo Biotechnology was founded in 2008 and went public on the Beijing Stock Exchange in 2023, marking it as the first stock in the recombinant collagen sector listed on that exchange [1][5]. Financial Performance - In 2024, Juzhi Biotechnology reported a revenue of 5.539 billion yuan, a year-on-year increase of 57.2%, while Jinbo Biotechnology achieved a revenue of 1.443 billion yuan, with a remarkable growth rate of 84.92% [8]. - Juzhi Biotechnology's adjusted net profit was 2.152 billion yuan, up 46.5% year-on-year, and Jinbo Biotechnology's net profit reached 732 million yuan, soaring by 144.27% [8]. - Both companies maintained high gross margins, with Juzhi Biotechnology at 82.09% and Jinbo Biotechnology at 92.02% in 2024 [8]. Market Trends - The recombinant collagen market in China is projected to grow from 18.5 billion yuan in 2022 to 108.3 billion yuan by 2027, reflecting a compound annual growth rate (CAGR) of 42.4% [6]. - The increasing consumer demand and advancements in biotechnology are driving the rapid development of the recombinant collagen industry [6]. Competitive Landscape - The industry is becoming increasingly competitive, with established players like Huaxi Biotechnology and Aimeike entering the recombinant collagen market. New entrants are also attempting to reshape the market dynamics [8]. - Juzhi Biotechnology's revenue heavily relies on its core brand, Kefu Mei, which contributes over 80% of its total revenue [9]. Challenges and Risks - Juzhi Biotechnology faces challenges due to its reliance on a single brand and an increasing dependence on online sales channels, which accounted for 71.6% of total revenue in 2024 [9]. - Jinbo Biotechnology also has a high revenue concentration, with 78.17% of its revenue coming from a single medical device product line [10]. - Both companies are navigating a competitive environment where maintaining market position and expanding product lines are critical for future growth [11][14].
重组胶原蛋白赛道捧出两位“首富”