New Stock News | Qingdao Gon Technology (002768.SZ) Conducts Hearing at Hong Kong Stock Exchange. The company focuses on new chemical materials and upstream and downstream products of gelatin and collagen.

According to the disclosure from the Hong Kong Stock Exchange on January 14th, Qingdao Gon Technology Co., Ltd. (002768.SZ) went through the listing hearing on the main board of the Hong Kong Stock Exchange, with CMSC International as the exclusive sponsor. According to the prospectus, Qingdao Gon Technology is a Chinese supplier focused on new chemical materials and upstream and downstream products of gelatin and collagen. The company serves the chemical industry and the health industry, mainly engaged in the research, development, production, and sales of industrial and commercial products. In the chemical industry sector, Qingdao Gon Technology's clients include manufacturers in downstream industries (such as automotive, new energy, and appliances) and supply chain solution providers for downstream manufacturers. In the health sector, Qingdao Gon Technology's clients mainly consist of medical and pharmaceutical manufacturers, who use the company's products as raw materials for production supplements and pharmaceuticals. In the chemical industry sector, Qingdao Gon Technology delves deep into the chemical new materials industry chain, with product series covering the upstream of the industrial value chain (such as our green petrochemical materials like aromatic hydrocarbons, styrene, polystyrene) and the midstream (such as organic polymer modified materials and organic polymer composite materials). The downstream customers then use the company's products as raw materials for their product manufacturing and performance optimization. Qingdao Gon Technology, with the business foundation of modifying organic polymer materials, extends upstream to the research and production of green petrochemical new materials like styrene, polystyrene (PS), expandable polystyrene (EPS), and polypropylene (PP). At the same time, Qingdao Gon Technology continues to deepen its downstream industrial layout, tapping into diversified application demands from industries such as electronics and appliances, automotive, new energy, and energy storage. According to Frost & Sullivan data, by 2024, Qingdao Gon Technology is the second largest organic polymer modified material and organic polymer composite material company in China by sales revenue, with a market share of 2.5%. Additionally, by 2024, the company is the largest polystyrene producer in China by production capacity. In the health industry sector, Qingdao Gon Technology focuses on the natural collagen industry and vertically integrates the industry chain. Its main subsidiary, Baotou Dongbao Bio-tech, has a long history of tens of years and has successfully established a product layout covering collagen peptide/derivative raw materials to end products based on the collagen to "collagen+" vertical integration development strategy. It is gradually developing into a comprehensive group in the subdivision of the health industry, forming economies of scale. According to Frost & Sullivan data, based on the 2024 production of collagen industry in China, Qingdao Gon Technology is the second largest producer of bone collagen in the Chinese market and the largest producer of bone collagen by domestic brand. Based on the 2024 production related to the capsule industry in China, Qingdao Gon Technology is the second largest domestic producer of empty capsules by domestic brand. In terms of the market size, the market size of organic polymer modified materials and organic polymer composite materials increased from RMB 303.8 billion in 2020 to RMB 544.8 billion in 2024, with a compound annual growth rate of 15.7%. With the widespread use of organic polymer modified and composite materials, the Chinese market is expected to maintain strong momentum. From 2025 to 2029, it is predicted to grow with a compound annual growth rate of 14.1%, reaching RMB 1,037.5 billion in 2029. In terms of finances, in the fiscal years 2022, 2023, 2024, and the first ten months of 2025, Qingdao Gon Technology's revenue was approximately RMB 13.406 billion, 17.439 billion, 19.188 billion, and 17.444 billion respectively. During the same periods, the company achieved annual profits of RMB 724 million, 540 million, 721 million, and 721 million.