Summary of the Conference Call for Juzi Biotechnology Company Overview - Juzi Biotechnology has recently received approval for a freeze-dried fiber preparation of water light needles, targeting facial dermal tissues, including areas around the eyes, between the eyebrows, and crow's feet. This product is expected to start contributing profits in 2026, with a growth potential of around 1 billion RMB for a single product, potentially releasing tens of millions to 100 million RMB in profits [2][6]. Industry Insights - The domestic market for recombinant collagen medical devices is primarily dominated by Jinbo Biotechnology, which holds three certificates, while Juzi Biotechnology has just obtained one. Other companies, such as Chuangjian and Lafang, are also in the application process [2][4]. - Recombinant collagen has advantages over animal-derived collagen, including price competitiveness, lower allergenic risks, and no religious restrictions, indicating a broad market potential. The medical aesthetics market is projected to reach a scale of 10 billion RMB by 2025 [2][5]. Product Development and Pipeline - Juzi Biotechnology currently has four products in the application stage, including two water light needles, a gel product targeting neck wrinkles (which has entered a fast-track review), and a cross-linked recombinant collagen gel for nasolabial folds and marionette lines [3][4]. - The newly approved product is expected to bring an incremental net profit of approximately 500 million RMB, with sales potentially reaching over 1.5 billion RMB based on the development of similar products by Jinbo Biotechnology [2][6]. Competitive Landscape - The competitive landscape for recombinant collagen medical devices is characterized by limited approved certificates, with Jinbo Biotechnology leading the market. Juzi Biotechnology aims to quickly capture market share and achieve performance growth through a distribution model, while being cautious about price control [4][8]. - The technology behind recombinant collagen overcomes the limitations of extraction from animal sources, providing greater application prospects and growth potential in the medical aesthetics market [7]. Future Directions and Challenges - Juzi Biotechnology's future direction includes advancing other medical devices in the application process and rapidly capturing market share for performance growth. The company may adopt a distribution model to accelerate market penetration but must manage price control effectively [8]. - The company also faces challenges in restoring its cosmetics business due to public sentiment issues. Given the current limited number of certificates and high industry attractiveness, Juzi Biotechnology is expected to maintain a favorable competitive position in the next couple of years, while anticipating more companies entering the field to drive industry development [8].
巨子生物20251023