The Zhitong Finance App learned that CITIC Securities released a research report stating that recombinant collagen products have sold excellently, and brands such as Kefumei, Colijin, and Weiyimei have performed well since this year. Local and international companies are speeding up their layout in the recombinant collagen field and continuing to launch new products. Continued progress in technology and technology is expected to bring recombinant collagen with better performance, multiple functions, and low cost, drive the expansion of existing racetracks and downstream scenarios, and promote the rapid and high-quality development of the recombinant collagen industry. CITIC Securities judged that the recombinant collagen industry would continue to prosper, focusing on leading position opportunities.
Recombinant collagen products are sold excellently, and brands such as Kefumei, Kleijin, and Weiyimei performed well.
Giant Biotech: According to the 618 Battle Report published on the official WeChat account of Juzi Biotech, the 2024 618 full cycle (May 15 to June 20), Kefu Mei's online omnichannel GMV increased 60% + year over year, and Klein's online omnichannel GMV increased 100% + year over year. Both of the company's core brands bucked the trend. According to statistics from Alchemy Furnace and Cicada Mama, from January to May 2024, Kefumei collagen stick products had a GMV of about 540 million yuan on the Tmall platform and 300 million yuan of GMV on the Douyin platform.
Marumi Co., Ltd.: According to statistics from Alchemist Furnace and Cicada Mama, from January to May 2024, Marumi Collagen sold about 140 million yuan of GMV on the Tmall platform and 23 million on the Douyin platform.
Jinbo Biotech: According to the company's announcement, the company achieved operating revenue of 230 million yuan in 2024Q1.
Local and international brands are speeding up the recombinant collagen layout and continuing to upgrade.
Giant Bio: Since 2024, Kefumei has launched a focus series (cream, essence, mask, and mask application), while Klein has launched a film series (has withdrawn from eye cream, face cream, and eye mask).
Jinbo Biotech: In June 2024, according to Weiyimei's WeChat account, Jinbo Biotech released Weiyimei's new anti-aging concept, as well as Weiyimei's new anti-aging products (3 Class II medical device products, the core ingredients are recombinant type III & recombinant type 17 humanized collagen). Beijiao products are expected to achieve synergy with Weiyimei Class III implant products.
Marumi Co., Ltd.: In April, it launched a new product called Collagen Kogane Needle 2.0.
Huaxi Biotech: Runbaiyan launched a new product called Genki Bomb in April, adding recombinant type III humanized collagen.
Perea: Launched Power Cream 2.0 in February, adding recombinant type 17 humanized collagen as the core ingredient.
Freda: In February, Dr. Aier released Flash Water Lotion 2.0, adding small molecules of recombinant type III humanized collagen.
International brands also focus on recombinant collagen layout. In March 2024, Opelay's new electric eye serum, a subsidiary of Shiseido, added recombinant humanized collagen.
Technology and processes continue to advance to promote the rapid and high-quality development of the recombinant collagen industry.
Giant Biology: In March 2024, according to the Juzi Institute of Biology, the company successfully constructed three types of recombinant collagen with triple helix characteristics: loose at low temperature, stable at room temperature, and tight at high temperature.
Jinbo Biotech: According to Jinbo Biotech's official WeChat account, in June 2024, the company's chief scientist Zhang Xingdong and his team discovered that the introduction of the label sequence will affect the advanced structure and properties of recombinant humanized type III collagen, thereby affecting its ability to regulate the adhesion, proliferation, migration and proliferation of Xuewang cell SCs; in March 2024, the company discovered the 164.88° three-helix structure of type A recombinant type III humanized collagen, which can be further self-crosslinked into a higher collagen fiber network structure. According to Medactive's WeChat account, in May 2024, Jinbo Biotech launched a registered clinical study on recombinant XVII humanized collagen freeze-dried fiber for hair growth indications.
Marumi Co., Ltd.: According to the 4th Recombinant Collagen Science Forum, in 2024, the company applied Pichia yeast to the field of recombinant collagen biosynthesis and optimized the Pichia yeast translation suspension sequence. Currently, the company has its own factory with an annual output of 100 tons of restructured collagen.
Jiangsu Wu Zhong: Currently, the company has three expression systems: Escherichia coli, Pichia pastoris, and CHO mammalian cells. In April 2024, Wu Zhong Aesthetics, China Pharmaceutical University, and Dongwan Biotech jointly built a recombinant human collagen formulation engineering joint laboratory to develop recombinant human collagen with a higher elastic modulus and longer degradation time in the body.
Risk Factors:
Technological progress, process innovation, scenario expansion, new product development, or risk of not meeting expectations. Consumer needs and preferences are constantly changing, and sales of collagen-focused products are at risk of falling short of expectations. There is a risk that optional consumption such as medical care and skincare products will be greatly affected by residents' purchasing power and willingness to spend. Increased competition in the industry risks eroding profitability. The risk that regulatory policies will change beyond expectations.
Investment Strategy:
CITIC Securities judged that the recombinant collagen industry would continue to prosper. It is optimistic about the recombinant collagen industry and suggests focusing on leading layout opportunities.