Company Overview - Wuhan Heyuan Biotechnology Co., Ltd. has developed a recombinant human albumin injection derived from rice, which has been approved by the National Medical Products Administration, making it the world's first "rice-derived" innovative drug [1] - The company was established in 2006 and is recognized as an innovative biopharmaceutical enterprise [1] - Heyuan Biotechnology's IPO application was approved by the Shanghai Stock Exchange on July 1, 2023, marking it as the first company to pass the review under the fifth set of listing standards of the Sci-Tech Innovation Board [1] Product Development - The core product, HY1001 (recombinant human albumin injection), is a Class 1 new drug aimed at supplementing or increasing serum albumin levels in the blood, potentially replacing plasma-derived human serum albumin in clinical settings [1] - The company has achieved a significant increase in the expression level of recombinant human albumin in rice from 2.75 grams to 30 grams per kilogram over nearly 19 years of research [2] - Heyuan Biotechnology has established an intelligent production line that meets international standards, with an annual production capacity of 12 million bottles of recombinant human albumin injection, expected to be operational by the second quarter of 2026 [2] Market Potential - The market size for human serum albumin in China reached 36.1 billion yuan in 2023, with projections to grow to 57 billion yuan by 2030, indicating a strong demand for this product [1] - Currently, over 60% of human serum albumin supply in China is reliant on imports, highlighting a significant opportunity for domestic production [1] - The annual demand for human serum albumin in China is approximately 1,000 tons, all sourced from plasma extraction [2]