The listing soared 9.88%, with a market value of more than HK$26 billion!
On November 4, Juzi Bio Holdings Limited (stock code: 02367. HK), officially listed on the main board of the Hong Kong Stock Exchange. On the opening day, Juzi Biotech rose by more than 25% at one point, with a market value of more than 30 billion, and as of the close, it closed at HK$26.7, up 9.88% from the issue price, with a total market value of nearly HK$26.5 billion.
The successful listing of Juzi Biotech has attracted widespread attention and has become another legend in the field of medical cosmetology. According to the prospectus, Juzi Biotech's performance is very eye-catching, with revenue of 3.7 billion yuan in the past three years, gross profit margin maintained at about 85%, and net profit of 314 million yuan in the first five months of 2022.
With the successful listing of Juzi Bio, many capital winners involved in investment have also attracted much attention. In October 2021, Juzi Biotech carried out the only round of financing before listing, which was competed by many investment institutions in the primary market, and finally CPE Yuanfeng, Hillhouse Investment, Jinyi Capital and other institutions participated in the investment, and at the same time, the long-quiet Weiya Dong Haifeng and his wife appeared behind them.
With a floating profit of nearly 60 million, Weiya and his wife became capital winners
On October 14, 2021, Juzi Biotech conducted Series A financing, and issued 37.98% of the share capital to Hillhouse Investment, CPE Yuanfeng and other investment institutions at a price of 20 yuan per share, with a total financing amount of 7.36 billion yuan.
As can be seen from the prospectus of Juzi Biotech, a company called Qianyi Holdings Limited also participated in the A round of financing, holding a total of 8.3777 million shares, holding 0.86% of the shares before the sale of Juzi Bio, at a price of 20 yuan per share, about 167 million yuan.
Behind Qianyi Holdings, there is a name familiar to the public: Dong Haifeng, the husband of the "queen of goods" Weiya. According to the information, Qianyi Holdings is controlled by Shanghai Qianyi Enterprise Management Partnership, its general partner is Qingdao Qianmeow Private Equity Fund, and its actual controller is Dong Haifeng.
After the global offering of Juzi Biologics shares, Qianyi Holding held 0.84% of the shares of Juzi Biologics, and the market value of the shares held by Weiya and his wife was about HK $224 million based on the closing price of HK $26.7 on the first day of listing, compared with the HK $167 million invested at the time of shareholding, with a floating profit of nearly HK $60 million.
With the listing of Juzi Bio and soaring, the investment income of Weiya and his wife has also attracted market attention, making Weiya return to the public vision as a capital winner after a period of silence.
The entrepreneurial story of "Dr. + Entrepreneur", the growth history of Juzi Bio
Founded in 2000, Shaanxi Juzi Biotech is a leading enterprise in the global recombinant collagen industry and a leader in China's professional skin care products industry, becoming the leader of the collagen golden track with its technical advantages and product diversification.
Behind this company, there are two soul figures, that is, the founder of the company, Ms. Fan Daidi, a professor at Northwest University in China, and her husband, Mr. Yan Jianya. This entrepreneurial combination of "doctor + entrepreneur" has teamed up to create Juzi Bio, a super IPO with a market value of 26 billion.
01
Deep research and development, giants set sail
Fan Daidi, one of the founders of Juzi Biotech, currently serves as the company's executive director and chief scientific officer, and is the core figure of Juzi Biotech's scientific research. Fan Daidi, the first female doctor in biochemical engineering in China, was born in Pucheng, Shaanxi Province in 1966, her father was a doctor, which had an important influence on her choice of biochemical major when she grew up and transformed her scientific research results into the medical field.
Another founder, Yan Jianya, is an accomplished entrepreneur who currently serves as chairman of the board, executive director and CEO of Juzi Biotech, as well as the chairman of Xi'an Triangle Defense, a listed company.
The couple got married at Northwestern University, and both are Northwestern University graduates of the Class of '88. In 1988, Yan Jianya received a bachelor's degree in chemical engineering and stayed on to teach, while Fan Daidi continued his studies after graduating from inorganic chemical engineering, obtaining a master's degree in chemical engineering in three years. In 1994, at the age of 28, after graduating with a doctorate from East China University of Science and Technology, she returned to her alma mater, Northwest University, to engage in scientific research.
At that time, the conditions were very difficult, Fan Daidi had a scientific research start-up fund of 5,000 yuan and a monthly salary of about 400 yuan, and she and her students squeezed into a laboratory of less than 40 square meters to concentrate on research and development.
From 1999 to 2000, Fan Daidi studied as a senior visiting scholar at the National Center for Bioengineering at the Massachusetts Institute of Technology. After returning to China in 2000, she set up a research team at Northwestern University and successfully developed recombinant collagen technology after intensive research. That is, in 2000, Fan Daidi and Yan Jianya and his wife jointly established Juzi Biotech in the entrepreneurship building of Xi'an High-tech Zone, which crossed from academia to business, and Juzi Bio set sail since then.
02
Leading the industry, a blockbuster
The process from research to commercialization was long and tortuous, and the company had little profit in the first few years, barely surviving with the couple's savings.
Until 2003, Fan Daidi and his scientific research team discovered a collagen close to human after countless experiments, and the research results achieved a milestone breakthrough in the field of collagen biomaterials, which caused strong repercussions around the world, and Fan Daidi was also known as the "mother of human-like collagen".
Juzi Biotech also filled the gap in the research field in the mainland, becoming the world's first enterprise that can mass-produce human-like collagen materials, and obtained the industry's first invention patent authorization in China two years later.
In 2008, Juzi Biotech launched a series of Cleargold collagen products, which was a blockbuster at the dermatology conference held in Chengdu, opening the road to the commercialization of Juzi Bio.
03
Industry leader, rapid development
Today, Juzi Biotech has become a leading enterprise in the field of recombinant collagen in the world, and looking back on its development path, it can grow rapidly and stably, mainly due to two factors - technical advantages and product matrix.
First, Juzi Bio has significant technical advantages in the field of recombinant collagen, and the technical barriers are high.
Since its establishment, Juzi Biotech has been leading the development of industry technology in the field of recombinant collagen, it is not only the first company in the world to achieve mass production of recombinant collagen skin care products, but also the first company in China to obtain the medical device certificate of recombinant collagen products, and also obtained the industry's first invention patent
Second, it has a diversified product matrix, and the pipeline under research is very rich, which is differentiated to meet the needs of users.
Juzi Biotech's products are characterized by innovation and diversification, focusing on the three major industrial directions of functional skin care products, medical devices and functional foods. According to the prospectus, Juzi Biotech has a rich product matrix, with eight major brands such as Cleargold, Kefumei and Kejian, and the product portfolio includes 105 SKUs, which can meet the diversified skin care needs of different groups of people such as anti-aging, sensitive skin, problem skin and postoperative repair. In addition, the company insists on continuous innovation and research and development, and currently contains 85 products in the pipeline under research.
The technical advantages of innovative research and development, superimposed on the diversified rich product matrix, provide an intrinsic core driving force for the rapid development of Juzi Biotech, making it a leader in the industry in the golden track of medical cosmetology.
According to Frost & Sullivan, from 2019 to 2021, Juzi Biotech has become the largest collagen professional skin care product company in China by sales for three consecutive years, and the second largest professional skin care product company in China in 2021.
Among them, Cleargold and Fumei have become popular brands with high public consumer recognition, and sales have increased sharply in recent years, and they are known as the two "cash cows" of Juzi Biotech in the industry.
It can be seen from the prospectus that the revenue of Fumei and Cleargold in 2019~2021 will account for about 90% of the total revenue of Juzi Bio.
04
Seize the opportunity and rise to the top
Juzi Bio and Weiya have a deep relationship, and the cooperation between the two sides is also a non-negligible stroke in the growth history of Juzi Bio.
Since its establishment in 2000, from technology research and development to commercialization, Juzi Biotech has experienced a long and tortuous growth period, and its performance has been tepid. Until 2019, the live broadcast outlet suddenly rose, Juzi Bio seized the opportunity to reach a cooperation with the well-known anchor Weiya at that time, and its brand Kefumei also became a popular brand in Weiya's live broadcast room.
On Double 11 in 2021, due to Weiya's strong promotion, Juzi Biotech's main brand Kefumei exceeded 100 million in the live broadcast room within ten minutes, becoming the first best-selling brand in the category of Tmall medical dressings.
In addition, a search of Xiaohongshu can find that there are more than 40,000 articles related to "restoration", this "medical beauty mask" has become a popular Internet celebrity popular among consumers, and Cleargold is also more recognized by sensitive skin customers.
In addition to online marketing, Juzi Biotech has also reached cooperation with medical institutions across the country offline. According to the Prospectus, Juzi Biotech's products have reached distribution cooperation with nearly 2,800 domestic medical institutions, including about 1,700 private hospitals and clinics, more than 1,000 public hospitals, and about 300 chain pharmacy brands.
With medical beauty outlets and live broadcasts, combined with the promotion of online marketing, and the expansion of offline sales channels, Juzi Biotech has quickly accumulated consumer recognition and industry prestige.
Juzi Biotech's first-mover advantage in the field of recombinant collagen, as well as the technical advantages of continuous innovation and research and development, coupled with the high-speed addition of the medical cosmetology industry in the golden stage of development, and the company's opportunity to seize the live broadcast outlet, under internal and external factors, have made Juzi Bio rise rapidly in just a few years.
In the past three years, the company's total revenue has reached 3.7 billion yuan, the net profit attributable to the parent company has exceeded 2.2 billion yuan, and the annual gross profit margin has reached about 85%.
In the long run, Juzi Biotech has core technical barriers, and there will be a series of products under research in the future to meet the differentiated needs of consumers, with broad prospects.
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