Lei Di Net Lei Jianping November 4
Juzi Biotech (stock code: "02367") was listed on the Hong Kong Stock Exchange today at an issue price of HK$24.3, raising net proceeds of HK$496 million. With the listing, Juzi Biotech claims to have become the first collagen stock in Hong Kong.
Juzi Biotech opened at HK$26, up 7% from the issue price; Up to now, the company's market capitalization is about HK$27.9 billion.
In 2019, 2020 and 2021, Juzi Biotech's subsidiaries (namely Xi'an Juzi Biotechnology, Shaanxi Juzi Biotechnology, Xi'an Juzi Medical Device and Shaanxi Juzi Special Medical) declared dividends of RMB397 million, RMB1.5 billion and RMB1.018 billion respectively, totaling RMB2.915 billion.
In 2020 and 2021, the above-mentioned subsidiaries of Juzi Biotech paid dividends of RMB1.5 million and RMB2.55 billion respectively. As a result, the dividends payable to Juzi Biotech in 2019, 2020, 2021 and the five months ended 31 May 2022 were $397 million, $1.9 billion, $368 million and zero, respectively.
The annual profit exceeds 800 million
In 1999, Fan Daidi, a doctor of biochemical engineering, returned to China and established a scientific research team at Northwest University, and in 2000, Juzi Bio was established.
Juzi Bio relies on three major technical systems: biomanufacturing of recombinant collagen, biomanufacturing of highly active natural products, and research and development and preparation of new biomedical materials.
Juzi Biotech focuses on the three major health industry directions of dermatology, medical devices, preventive medicine and nutritional medicine, and is mainly engaged in biomaterials, biomedicine, nutrition and health, dermatology, beauty and skin care and other business sectors.
According to the prospectus, Juzi Biotech's revenue in 2019, 2020 and 2021 was 957 million yuan, 1.19 billion yuan and 1.553 billion yuan respectively; Gross profit was 797 million yuan, 1 billion yuan and 1.354 billion yuan respectively; The gross profit margin is as high as 83.3%, 84% and 87.2% respectively.
Juzi Biotech's profits in 2019, 2020 and 2021 were 575 million yuan, 826 million yuan and 828 million yuan respectively; The profit margins for the year were 60%, 69.4% and 53% respectively.
Juzi Biotech's revenue in the first five months of 2022 was 723 million yuan, an increase of 39% from 520 million yuan in the same period of the previous year; Profit for the period was $313 million, compared to $290 million for the same period last year.
The adjusted profit of Juzi Biotech in 2019, 2020 and 2021 was 575 million yuan, 827 million yuan and 851 million yuan respectively; Adjusted profit margin was 60.1%, 69.5% and 54.8%.
Juzi Biotech's adjusted profit in the first five months of 2022 was 336 million yuan, with an adjusted profit margin of 46.5%.
As of May 31, 2022, Juzi Biotech held cash and cash equivalents of $922 million.
Hillhouse is a shareholder
The executive directors of Juzi Biotech are Yan Jianya, Dr. Fan Daidi, Ms. Ye Juan and Ms. Fang Juan; The non-executive Directors are Chan Kam Ho; The independent non-executive Directors are Huang Jin, Shan Wenhua and Ms. Huang Siying.
Yan Jianya and Dr. Fan Daidi are husband and wife, Yan Jianya is the company's co-founder, chairman of the board of directors, executive director and chief executive officer, and Dr. Fan Daidi is the co-founder, executive director and chief scientific officer.
Dr. and Mrs. Fan Daidi hold 59.97% of the company through Juzi Holding, Dr. Fan Daidi's personal direct shareholding is 0.09%, and GB Employee Benet Trust holds 1.96%.
Hillhouse's GSUM XVIII holds 4% and Hillhouse's HNTR V Holdings holds 0.99%, i.e. Hillhouse holds a total of 4.99%.
CPE Collagen Investment holds 4.33%, Shining Sea holds 3.76%, YF Valued Vision holds 3.66%, and LC Special I Limited Partnership holds 3.43%.
Harmony Shuye LP holds 2.33%, Shanghai Suzaku holds 1.94%, Celestial Key Group holds 1.41%, Hainan Xiling holds 1.33%, and River Union holds 1.16%.
Dream Fancy holds 1.12%, Lavender Fund 1.1% and XN Crane 1%.
Weiya's husband is also a shareholder
Before Juzi Biotech went public, it introduced a number of investors. Among them, Qianyi Holdings Limited (hereinafter referred to as "Qianyi") participated in the A-1 round of preferred stock and A-2 preferred stock financing, holding 0.86% of the equity of Juzi Biotech before the global offering, followed by 0.84% of the equity after the global offering.
Qianyi is a company incorporated in the British Virgin Islands in October 2021 and is controlled by Shanghai Qianyi Enterprise Management Partnership (Limited Partnership) ("Shanghai Qianyi").
The general partner of Shanghai Qianyi is Qingdao Qianmeow Private Equity Fund Management Co., Ltd. (hereinafter referred to as "Qingdao Qianmeo"), which is ultimately controlled by Dong Haifeng, while the sole limited partner of Shanghai Qianyi is Qingdao Qianmeowu Private Equity Investment Fund Partnership (Limited Partnership).
According to the iEnterprise investigation, Qingdao Qianmeow was wholly owned by Qianxun (Hangzhou) Holding Co., Ltd. (hereinafter referred to as "Qianxun Holdings"), and the actual controller of Qianxun Holdings, Dong Haifeng, is the husband of the former well-known anchor Weiya.
Wei Ya is smart but mistaken by cleverness, originally known and benefited, and can also make some investment by the way, but was chased for tax evasion, imposed late fees and fines, a total of 1.341 billion yuan, and was blocked.
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