Outstanding advantages in the pharmaceutical field, with a market share of over 30% for amino acid raw materials
Recently, Wuxi Jinghai Amino Acid Co., Ltd. (referred to as "Wuxi Jinghai") announced its initial public offering and listing on the Beijing Stock Exchange, and conducted an online roadshow on November 29, 2023. The company plans to raise approximately 340 million yuan, and the funds raised from the new stock issuance, after deducting issuance expenses, will mainly be used for the "high-end high value-added key series amino acid industrialization construction project" and supplementary working capital.
It is reported that Wuxi Jinghai was established in May 1995 and is a national level specialized and innovative "little giant" enterprise, focusing on the research and development, production, and sales of amino acid products. The main products include isoleucine, leucine, and tryptophan, which are widely used in various fields such as medicine, food, health products, and daily chemical products.
In terms of performance, Wuxi Jinghai has maintained a high-speed growth trend in recent years. At the end of each year from 2020 to 2022 and as of the end of June 2023, the company's operating revenue was 266.2619 million yuan, 383.5719 million yuan, 386.5148 million yuan, and 203.231 million yuan, respectively, with a compound annual growth rate of 20.48%; The net profits attributable to the owners of the parent company after deducting non recurring gains and losses were 45.3566 million yuan, 67.5401 million yuan, 67.3838 million yuan, and 29.846 million yuan, respectively.
Outstanding advantages in the pharmaceutical field, with a market share of over 30% for amino acid raw materials
Benefiting from the continuous growth of China's pharmaceutical industry, as well as the continuous development and application of synthetic biology and other scientific technologies, and the extension of the scope of biopharmaceutical applications, the important role of amino acids in medicine is increasingly important. Real and potential functions are constantly being developed, and the demand for amino acids and their derivatives in the pharmaceutical industry will continue to increase.
After years of cultivation, Wuxi Jinghai has become one of the advanced enterprises in China's amino acid industry, and the market position of its products is highly recognized in the industry. It is worth noting that Wuxi Jinghai has established a certain advantageous position in the pharmaceutical field with high technical requirements, and is currently the main supplier of amino acid raw materials for leading domestic enterprises in the fields of pharmaceutical preparations and culture media. According to data from the China Bio Fermentation Industry Association, the company has a market share of over 30% in the domestic amino acid raw material drug market, ranking among the top.
Research and development strength creates a wide moat, while research and reserves support long-term development
Wuxi Jinghai has established a multidisciplinary industry university research system and has established good cooperative research and development relationships with Jiangnan University and East China University of Science and Technology. At the end of each year from 2020 to 2022 and as of the end of June 2023, the company's research and development expenses have steadily increased, reaching 13.706 million yuan, 19.5414 million yuan, 18.6906 million yuan, and 12.6532 million yuan respectively, with a research and development expense ratio maintained at around 5%. Wuxi Jinghai already has 27 patents, including 22 invention patents and 5 utility model patents. The patent content covers various stages such as strain cultivation, fermentation control, separation and extraction, and application extension, covering the entire chain of core technologies. After years of deep cultivation and precipitation by the R&D team, we have independently developed multiple core technologies such as high-purity amino acid preparation and clean production, resulting in numerous technological innovations and demonstrating significant economic and environmental benefits. At present, Wuxi Jinghai has abundant reserves of research projects, including the development of production processes for L-ornithine hydrochloride and its derivatives, industrialization technology research for arginine glutamic acid, industrialization technology research for gamma aminobutyric acid, fermentation and extraction technology research for L-proline, preparation and industrialization research for L-histidine, etc. These high-quality ongoing projects are expected to provide sufficient momentum for the company's long-term development in the future.
Stable cooperation with major clients, excellent quality wins a good reputation
Wuxi Jinghai has stable cooperation in the industrial chain and high customer recognition. Relying on excellent product quality, technological advantages, and cost advantages, Wuxi Jinghai has long served high-quality customers both domestically and internationally, including Fortune 500 companies. In overseas markets, the company collaborates with Fortune 500 companies such as Nestle THERMO FISHER、OTSUKA、PRINOVA、 CYTIVA and other companies under Danaher have established partnership relationships; In the domestic market, the company maintains good cooperative relationships with multiple high-quality pharmaceutical companies, such as Hisilicon and Chenxin Pharmaceutical.
Wuxi Jinghai has won multiple awards and has a good reputation in the industry. The company has been awarded honorary titles such as "Demonstration Enterprise for Innovation Capacity Building of Small and Medium sized Enterprises in Jiangsu Province", "Demonstration Enterprise for Energy Conservation and Emission Reduction Technology Innovation in Jiangsu Province", and "Advanced Collective for Science and Technology Innovation in the Biological Fermentation Industry during the 13th Five Year Plan". The company's high-purity isoleucine, high-purity valine and other products have been recognized as high-tech products, and the "Jinghai" trademark has been recognized as a famous trademark in Jiangsu Province. In addition, Wuxi Jinghai also served as the first drafting unit to oversee 2 national standards, 1 industry standard, and 1 group standard, and participated in the development of 2 industry standards and 2 group standards; Received multiple awards such as the Ministry of Education and Wuxi Science and Technology Progress Award, and won the second prize of Jiangsu Province Science and Technology Award in 2018.
Looking ahead to future development, the company stated that it will continue to increase research and development investment, improve product quality and production processes, enhance the purity of amino acid products, strengthen quality control, strictly follow production quality management standards for production, introduce high-end production equipment and new production lines to expand the production scale of a series of amino acids, and further optimize production processes and enhance manufacturing capabilities to enhance the company's competitive advantage in production capacity.
(This article does not constitute any investment advice, and the information disclosed is subject to the company's announcement. Investors operate based on this and bear the risks themselves.)
National Business Daily