Product Overview - Quercetin is primarily used in health supplements abroad, with functions including immune enhancement, antioxidant, anti-inflammatory, and antibacterial effects [3] - Quercetin has shown resistance to coronavirus and improvement effects on pulmonary fibrosis and nodules [3] - The product is mainly sold abroad due to domestic regulatory restrictions [3] - The company is developing high-quality quercetin products for functional beverages and food additives [3] - Efforts are being made to expand the European market and prepare for domestic market entry [3] Market and Pricing - Quercetin prices rose due to increased demand for its anti-coronavirus and anti-inflammatory effects, coupled with a significant reduction in raw material Sophora japonica in 2021 [4] - Prices normalized in 2022 after a good harvest of Sophora japonica [4] - Current price reductions may lead to decreased sales revenue and profits, but long-term demand remains strong [4] - If Sophora japonica does not experience a significant reduction in 2024, quercetin prices are expected to remain stable [4] Synthetic Biology - Synthetic biology involves using biotechnology to construct microbial strains for producing target substances, offering advantages such as safety, low environmental impact, and cost-effectiveness in mass production [5] - The process includes five stages: product selection, strain development, engineering strain experiments, production, and product application promotion [5] - The company has strong technical advantages in target substance purification and refinement, with a high market share in Europe, the US, Japan, and Australia [5] - Collaboration with Jiangsu Haifei leverages the company's expertise in plant extraction and Haifei's strengths in biological fermentation equipment and engineering [5] - Cost reductions through synthetic biology could theoretically reach up to one-third, depending on market demand [6] - Several product selections are currently under joint development, with progress updates to be disclosed as per regulatory requirements [6] Global Market and Applications - Quercetin is primarily used in health supplements abroad, including functional foods and dietary supplements [7] - The US Pharmacopoeia has included quercetin, and the company has completed product process development meeting US Pharmacopoeia standards [7] - The company is conducting research for quercetin's application as a new food ingredient in China [7] - In 2023, the company completed the development of water-soluble quercetin and other new products, and obtained SC certificates for domestic market development [8] - Approximately 70% of global quercetin supply comes from China, though there are no official statistics [9] Financial and Product Performance - In the first three quarters of 2023, the company's Citrus aurantium series had higher gross margins than the Sophora japonica series, with diosmin accounting for over 20% of the company's revenue [9] - Diosmin is used in pharmaceuticals, health supplements, and cosmetics, with benefits including reducing vascular fragility and abnormal permeability, enhancing venous tension, and improving vascular stability [9] - The company's diosmin raw material has passed GMP compliance inspections, enabling broader domestic and international market sales [9] - The company has obtained SC certificates for 8 products, including neohesperidin dihydrochalcone, and is preparing for domestic market development [9]
欧康医药(833230) - 关于接待机构投资者调研情况的公告