On April 22, Guangzhou Chuanger Biotechnology Co., Ltd. (hereinafter referred to as "Chuanger Bio") released its 2023 annual report.
According to the financial report, in 2023, TronBio will achieve a total operating income of 306 million yuan, a year-on-year increase of 26.48%, and an attributable net profit of 46.88 million yuan, a year-on-year increase of 33.19%.
Screenshot from the 2023 annual report of Tron Biotech
Chuanger Biotech has two major brands, Chuangfukang and Chuangermei, and its main products are medical devices and skin care products. In 2023, Chuanger Biotech's performance will hit a new high, largely due to the steady growth of the sales revenue of its brand Chuangfukang skin care products.
Skincare products increased by 71.76%
Chuangfukang performed well
Chuanger Biotech is a high-tech enterprise that applies the key technology of active collagen biomedical materials preparation to the R&D, production and sales of active collagen raw materials, medical devices and biological skin care products. According to public information, Chuanger Biotech is the pioneer of collagen patch dressing products in mainland China, and has the first sterile class III collagen patch dressing in China.
According to the financial report, during the reporting period, the company established a business division-based operation model around the company's development strategy and business objectives, strengthened the target management and result-oriented performance appraisal management mechanism, and steadily promoted the development of various business plans. During the period, the company achieved operating income of 306 million yuan, an increase of 64.0889 million yuan over the same period of last year.
Combing through the financial report data of Chuanger Biotech over the years, it can be seen that its overall performance has shown great fluctuations in recent years, and its operating income will hit a new high in 2023.
From 2017 to 2019, the performance of Tron Biotech soared and successfully exceeded the 300 million yuan mark, and since 2020, the "machine brand" products have ushered in strong supervision, and the overall revenue of Tron Biotech has begun to decline. From 2020 to 2022, the revenue of Chuanger Biotech will be 302 million yuan, 240 million yuan, and 242 million yuan respectively.
In 2023, the high revenue growth of Tron Biotech is inseparable from the sales growth of the skin care products segment. According to the financial report, during the reporting period, the revenue of Chuanger biomedical devices was 194 million yuan, a year-on-year increase of 9.76%, the operating income of skin care products was 110 million yuan, a year-on-year increase of 71.76%, and the operating cost also increased by 54.85% year-on-year.
In terms of brands, the sales revenue of Chuangfukang's medical device products increased by 17.7335 million yuan over the same period of the previous year, and the sales of Chuangfukang skin care products increased steadily after they were launched, achieving sales revenue of 80.015 million yuan in 2023, an increase of 53.7741 million yuan over the previous year. Affected by market competition, the sales revenue of Chuangermei brand skin care products declined, with a year-on-year decrease of 7.7526 million yuan. During the reporting period, the net profit increased by 11.7511 million yuan over the same period of the previous year, a year-on-year increase of 33.43%.
It is worth mentioning that Chuanger Biotech has carried out a "deep transformation" in 2022, launching a series of new skin care products and optimizing the product layout, such as the launch of Chuangfukang collagen skin care products, and the cancellation of first-class medical device products of Chuangjin Biotech. In 2023, Chuangfukang skin care products will continue to maintain high growth, and so far, its transformation has shown results.
Attack the 100 billion market
Five key directions in 2024
Referring to the company's development strategy, the financial report pointed out that Chuanger Biotech will be committed to the research and application development of collagen, relying on its existing collagen technology, expanding collagen series of medical biomaterials and medical device products, skin care products, collagen health products and other fields, and continuing to strive to build a first-class collagen biotechnology enterprise in China.
In the field of biological skin care, the company is based on the large-scale aseptic extraction and preparation technology of biomedical grade active collagen, researches and develops efficient, simple and safe formula products with daily maintenance functions and skin barrier repair functions, and creates multi-dimensional and multi-series biological skin care solutions.
Looking at the cosmetics market, in recent years, many domestic and foreign brands have entered the collagen track and launched related products one after another. According to Frost & Sullivan, from 2017 to 2021, the scale of recombinant collagen products increased from 1.5 billion yuan to 10.8 billion yuan, with a compound growth rate of 63.0% during the period, and the market size of animal-derived collagen products increased from 8.2 billion yuan to 17.9 billion yuan during the same period, with a compound growth rate of 21.8% during the period. Overall, the market size of collagen products in mainland China is expected to grow to 173.8 billion yuan in 2027.
On this track, Chuanger Biotech is also making continuous efforts. On January 5 this year, the official public account of Chuanger Biotechnology released information showing that the "recombinant collagen dressing" independently developed by Xinyu Chuangjin Biomedical Technology Co., Ltd., a subsidiary of Chuanger Biotech, successfully obtained the medical device registration certificate. "The approval of this product effectively complements the company's product line, marking the significant progress made by Tron Biotech in the application of recombinant technology. ”
According to the financial report, in order to achieve the company's planned business goals, in 2024, Tron Biotech will focus on the following aspects:
1. Continue to optimize the organizational structure and management mode of the business division;
2. Further improve the decoration and construction project of the new factory area, realize the smooth operation of the new park and the relocation of the headquarters to the new park;
3. Accelerate the promotion of collagen raw materials "going out" and the strategic layout of brand internationalization;
4. Under the premise of lean production management, optimize the production process and product quality;
5. Adhere to market-oriented R&D work and innovate product categories.
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