A-share subscription | Gelin Biotech (301688.SZ) opens subscription and is one of the first fragrance companies in China to enter the international market

The Zhitong Finance App learned that on August 20, Gelin Biotech (301688.SZ) began the subscription. The issuance price was 26.33 yuan/share, and the subscription limit was 0.7 million shares, with a price-earnings ratio of 19.80 times. It belongs to the Shenzhen Stock Exchange, and Changjiang Securities is its sponsor.

According to the prospectus, the company is a pioneer and one of the most well-known enterprises in the fragrance industry in China. Since its establishment, the company has focused on the R&D, production and sales of fragrance products, forming three major product lines: turpentine, cedar oil, and full synthesis. The specific products mainly include sandalwood series, methyl cedar ketone, and turpentine series. The company's products are mainly used downstream as raw materials for the formulation of daily chemical essences. They are widely used in the fields of washing, cleaning, disinfection and personal care products, and have broad downstream market demand space.

After more than 20 years of development and accumulation, the company has formed a core competitiveness in the development and production of high-quality fragrance products. It is one of the few fragrance enterprises in China that have mastered turkecone production technology and achieved industrialization. It is one of the largest suppliers of methyl cedarone and an important supplier of sandalwood products in China. The company is one of the first fragrance companies in China to enter the international flavor and fragrance market. It is a REACH global leading registered enterprise for 5 products, including methyl cedarone, cedar acetate, dimethylheptanol, dihydrocoumarin, and cymenol. It has successfully entered the global supply chain system of Givaudan (Givaudan), DSM Firmenich (DSM-Firmenich), International Flavors and Fragrances (IFF), Symrise (Symrise), and Procter & Gamble (P&G), etc. (P&G), etc.

The company is one of the pioneers and important well-known enterprises in China's fragrance industry, and is at the leading level in the industry in terms of market influence and product technology research and development.

In terms of market influence in the industry, the company is one of the few fragrance companies in China that has mastered turkecone production technology and achieved industrialization. It is one of the largest suppliers of methylcedrone in China and an important supplier of sandalwood products.

In terms of product technology research and development, the company has successively undertaken 4 national torch plan projects, 29 provincial new product trial production plans, participated in the drafting of 5 national standards, and mainly drafted 15 industry standards. The company's turquoise products and industrialization projects won the first prize of the China Light Industry Federation Science and Technology Invention Award and the third prize of the Zhejiang Science and Technology Progress Award; the company's new dragon brain formaldehyde process won the second prize of the Sinopec Science and Technology Progress Award, the second prize of the Hangzhou Science and Technology Progress Award, and the third prize of the Zhejiang Science and Technology Progress Award; the company's sandalwood 208 products won the third prize of the Science and Technology Progress Award of the China Light Industry Federation.

The company is a “specialized, special and new” enterprise in Zhejiang Province, the top ten enterprises in China's light industry and fragrance industry, a national high-tech enterprise, and a patent demonstration enterprise in Zhejiang Province. It is a provincial high-tech research and development center for synthetic fragrances, a Zhejiang enterprise technology center, and an engineering technology research center unit for biogenic perfumes in Zhejiang Province.

On the financial side, in 2023, 2024, and 2025, the company achieved operating income of about 735 million yuan, 961 million yuan, and 1,075 million yuan respectively; for the same period, net profit was approximately 92.9241 million yuan, 150 million yuan, and 179 million yuan, respectively.