Jinbo Bio’s Revenue Soars 67.15% in 2022

In 2022, Jinbo Bio's operating revenue reached 390 million yuan ($56.75 million), an increase of 67.15% compared to 2021. The net profit was 109 million yuan($15.86 million), saw growth of 90.24%.

On April 17, Shanxi Jinbo Biopharmaceutical Ltd (hereinafter referred to as Jinbo Bio), the manufacturer of collagen products, announced its 2022 annual results. In 2022, Jinbo Bio's operating revenue reached 390 million yuan ($56.75 million), an increase of 67.15% compared to 2021, e net profit attributable to shareholders was 109 million yuan($15.86 million), saw growth of 90.24%.

From 2018 to 2022, Jinbo Bio's operating revenue was 129 million yuan($18.76 million), 156 million yuan($22.69 million), 161 million yuan($23.42 million), 233 million yuan($33.89 million) and 390 million yuan ($56.75 million) respectively, with a year-on-year increase of 25%, 21.77%, 3.42%, 44.75% and 67%. Net profits were 45.50 million yuan($6.62 million), 42.18 million yuan($6.13 million), 32.27 million yuan($4.69 million), 56.90 million yuan ($8.28 million) and 109 million yuan($15.86 million) respectively.

During the reporting period, the company's medical equipment, functional skin care products, and raw material business revenue achieved steady growth. Jinbo Bio attributed the growth of its performance to the expansion of sales channels in 2022.

On March 24, Jinbo Bio received approved for its listing on Beijing Stock Exchange. Jinbo Bio will become the second listed recombinant collagen company in China if the company make it success to go public.

Jinbo Bio is engaged in functional collagen structure analysis, discovery, and green manufacturing of collagen products by biological Fermentation. The Company owns 32 Chinese patents and international patents. The only active and fully analyzed Type III Humanized Collagen in the International Protein Structure Data Bank (PDB).

Jinbo Bio's products are mainly divided into recombinant collagen products, anti-HPV biological protein products. Among them, the company's main products in the field of recombinant collagen products include lyophilized fiber of recombinant Humanized Type III collagen, wound and mucosa repair dressings, functional skin care products. The main products in the field of anti-HPV bio-protein products is anti-HPV biologic protein dressing.

In 2022, the sales revenue of Jinbo Bio's recombinant collagen products reached 333 million yuan($48.46 million), saw a remarkable growth of 104.98% compared to 2021. Jinbo Bio pointed out that the rapid growth was due to the continuous growth of the domestic collagen market and expansion of sales channels.