Shanxi Jinbo Bio-Pharmaceutical Co., Ltd. (hereinafter referred to as “Jinbo Bio”) released its annual report for 2023. The company achieved an operating income of 780 million yuan in 2023, a year-on-year increase of 99.96%, and net profit attributable to shareholders of the listed company reached 300 million yuan, marking a year-on-year growth of 174.61%.
Jinbo Bio stated that during the reporting period, the company, guided by the annual operating plan, led various departments in an orderly manner to carry out various tasks, including but not limited to increasing research and development investment, actively developing new products, and striving to expand the market, thereby achieving sustainable revenue growth, further optimizing the asset-liability structure, and significantly improving profitability.
Furthermore, the substantial increase in operating income by 99.96% was mainly attributed to the company’s intensified brand promotion efforts, market education, and promotion of products, deepening relationships with existing customers while continuously expanding the customer base. Additionally, the company actively developed new products and upgraded existing ones, optimizing and improving the product matrix, leading to a significant increase in sales volume.
From the perspective of product classification, the operating income of medical device products in this period increased by 122.66% compared to the same period of the previous year. This is mainly due to the significant growth in revenue from single-material medical device products in this period compared to the same period of the previous year, with rapid growth in sales revenue of the company’s recombinant type III human collagen dry fibers and recombinant type III human collagen gel.
The operating income of functional skincare products increased by 12.00% in this period compared to the same period of the previous year. This is primarily due to the introduction of a new single-component functional skincare product “ProtYouth@” in mid-June of this period, leading to a 66.54% increase in single-component functional skincare products compared to the same period of the previous year. The operating income from raw materials and other sources increased by 42.89% compared to the same period of the previous year, mainly due to the active expansion of the raw material market, resulting in increased revenue from collagen raw materials.
It is worth mentioning that during the reporting period, through innovative medical device approval, the company obtained the registration certificate for the third-class medical device of recombinant human collagen, namely “Recombinant Human Type III Collagen Solution for Injection.” This is the second Class III medical device implant product in the field of recombinant collagen in China, following the “Recombinant Human Type III Collagen Dry Fibers.”
