New Stock News | Anhui Huaheng Biotechnology Co., Ltd. (688639.SH) submitted a listing application to the Hong Kong Stock Exchange and realized industrialization of a series of amino acid anaerobic fermentation processes.

According to the announcement by the Hong Kong Stock Exchange on April 30, 2026, Anhui Huaheng Biotechnology Co., Ltd. (referred to as Anhui Huaheng Biotechnology Co., Ltd. (688639.SH)) has submitted an application for listing to the Hong Kong Stock Exchange, with Huatai International as the exclusive sponsor. Company Profile According to the prospectus, based on data from Frost & Sullivan, Anhui Huaheng Biotechnology Co., Ltd. is the first company globally to achieve industrialization of anaerobic fermentation of a series of amino acids (including L-proline and L-valine); and as of 2024, the company's market share for L-proline and L-valine ranked first in the world. As of December 31, 2025, Anhui Huaheng Biotechnology Co., Ltd. has established stable long-term cooperative relationships with over 815 customers in 89 countries in major markets in Asia, Europe, and the Americas. As of December 31, 2025, the company's biobased products mainly include amino acid products (mainly proline series, L-valine, tryptophan, arginine); vitamin products (mainly D-calcium pantothenate, D-Panthenol, inositol); and other biobased products (mainly biobased new material monomers (1,3-propanediol and succinic acid), citric acid, and arbutin), etc. The company's biobased products are widely used in various industries, including animal nutrition, daily care, food and beverage, materials, plant nutrition, etc. Anhui Huaheng Biotechnology Co., Ltd. utilizes two major green manufacturing technology platforms, fermentation and enzymatic catalysis. The company has built core technologies covering strain construction, fermentation, high-efficiency purification and separation, and product development around the microbial cell factory. With this technical system, the company's biomanufacturing methods replace traditional chemical synthesis processes with renewable bioresources, thereby reducing pollution, energy consumption, and minimizing carbon footprint. Financial Data Revenue The company recorded revenues of approximately RMB 1.938 billion, RMB 2.178 billion, and RMB 2.862 billion in the years 2023, 2024, and 2025, respectively. Gross Profit The company recorded gross profits of approximately RMB 782 million, RMB 540 million, and RMB 595 million in the years 2023, 2024, and 2025, respectively. Net Profit The company recorded net profits of approximately RMB 447 million, RMB 185 million, and RMB 124 million in the years 2023, 2024, and 2025, respectively. Industry Overview According to a report by Frost & Sullivan, the global biobased products market was valued at USD 22.8 billion in 2020, increasing to USD 42.1 billion in 2024, with a compound annual growth rate (CAGR) of 16.6% from 2020 to 2024. It is estimated that the market size will reach USD 80.1 billion in 2030 and USD 109.1 billion in 2035, with CAGRs of 11.3% and 6.4% from 2024 to 2030 and 2030 to 2035, respectively. According to the same source, during the period 2020 to 2024, the size of the biobased products market in China increased from USD 8.6 billion to USD 19.9 billion, with a CAGR of 23.4%. The market size of biobased products in China is expected to reach USD 39.7 billion in 2030 and USD 54.5 billion in 2035, with CAGRs of 12.2% from 2024 to 2030 and 6.6% from 2030 to 2035. The global market size for L-proline increased from USD 121.5 million in 2020 to USD 164.5 million in 2024, with a CAGR of 7.9% from 2020 to 2024. It is estimated that the market size will reach USD 252.5 million in 2030 and USD 325.5 million in 2035, with CAGRs of 7.4% and 5.2% from 2024 to 2030 and 2030 to 2035, respectively. Board of Directors Information The board of directors consists of nine directors, including five executive directors, one non-executive director, and three independent non-executive directors. Ownership Structure As of the filing date, Guo Henghua holds approximately 18.08% of the equity; Ningbo Ruiheyuan (owned by Guo Henghua with 79.19% equity, held by executive director Zhang Dongzhu with 8.80%, held by executive director Fan Yi with 4.39%, held by executive director Zhang Xueli with 2.93%, held by employee Tang Siqing with 3.52%, and held by employee Liu Yang with 1.17%) holds approximately 7.77% of the equity; Hengrun Huaye (owned by Guo Henghua with 99% equity and by Guo Henghua's daughter Song Liye with 1%) holds approximately 2.91% of the equity; and Guo Hengping holds approximately 2.02% of the equity. According to a joint action agreement between Guo Henghua and Guo Hengping, they agree to take joint action regarding the rights of the company's shareholders, and in case of disagreement, Guo Henghua's opinion shall prevail. Intermediary Team Exclusive Sponsor: Huatai Financial Holdings (Hong Kong) Limited Company Legal Advisor: Hong Kong Law: King & Wood Mallesons; Chinese Law: Anhui Tianhe Law Firm Exclusive Sponsor's Legal Advisor: Hong Kong Law: Jingtian & Gongcheng Law Firm; Chinese Law: Beijing Tongshang Law Firm Auditor and Reporting Accountant: Rongcheng (Hong Kong) Certified Public Accountants Co., Ltd. Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Transfer Pricing Consultant: Rongcheng Tax Accountants Co., Ltd. (Anhui) Compliance Advisor: SOMERLEY CAP Limited Company