Guangzhou Wondfo Biotech (300482.SZ): Deeply cultivated overseas for 22 years, accelerating overseas expansion to increase global market share.

Guangzhou Wondfo Biotech(300482.SZ), as a leading domestic company in the POCT industry, has actively expanded into overseas markets since 2002, committed to promoting Chinese-made medical technology globally. Through more than 20 years of unremitting efforts, the company has established a comprehensive marketing network worldwide, providing product solutions and technical support to over 150 countries and regions. Building Competitive Barriers with Multiple Advantages During more than 20 years of deepening overseas markets, Guangzhou Wondfo Biotech has focused on adapting to local conditions and has established nearly 200 localized marketing teams. The company launches products tailored to the specific market demands of different countries and regions. Currently, the company has formed a mature and complete marketing system, including overseas market access, overseas channel development, and sales team structure. IVD expansion into foreign markets is characterized by high initial investment costs and a long setup time. Each IVD testing project requires independent registration, and companies with no prior experience typically require a minimum investment period of 5-10 years for international expansion. In terms of product registration, Guangzhou Wondfo Biotech has a strong competitive advantage. As of the first half of 2023, the company has obtained 324 overseas registrations, including 70 FDA registrations in the United States, 241 CE registrations in the European Union, and 13 MDALL registrations in Canada. These registrations not only provide the company with the basis for market access but also establish a stockpile advantage for product registration. In addition to the advantage of registrations, Guangzhou Wondfo Biotech has a wide range of product lines. The company focuses on the immunofluorescence platform and immunogold colloid platform and has launched various products overseas, including infectious diseases, cardiovascular diseases, inflammation, toxicology, and reproductive health. Moreover, the company has begun to introduce coagulation, blood gas, and dry chemistry products to further enrich its product line. These diversified product lines allow Guangzhou Wondfo Biotech to meet the market demands of different countries and regions. In terms of sales channels, Guangzhou Wondfo Biotech has divided its international marketing system into seven major sections: Asia, Europe, Latin America, Africa, the Middle East, Russian-speaking countries, and e-commerce. As of the end of 2023, Guangzhou Wondfo Biotech has more than 10 marketing centers, over 20 overseas offices, and more than 20 domestic and foreign subsidiaries, providing product solutions and technical support to customers from over 150 countries and regions. The depth and breadth of channel coverage lay a solid foundation for the company's sustained and steady development in the future. Deepening "Localization" Operations in Overseas Markets In recent years, Guangzhou Wondfo Biotech has further deepened its overseas market strategy, making international business a strategic priority for medium- to long-term development. The company has increased investment in overseas markets, promoted the "enterprises going global" and "technology going global" models, and focused on promoting the "localization operations" strategy in key countries and regions. This strategic shift allows Guangzhou Wondfo Biotech to better integrate into local markets and enhance its market competitiveness. While promoting the overseas market strategy, Guangzhou Wondfo Biotech has also collaborated with local medical institutions and government departments in multiple countries and regions. In 2019, Guangzhou Wondfo Biotech cooperated with Merck Indonesia to provide screening and treatment services for thyroid disease patients in remote areas. In July 2023, Guangzhou Wondfo Biotech partnered with Merck and officially launched a national thyroid screening program in Indonesia, together with local medical associations and the Ministry of Health. The first phase of the project is expected to provide thyroid screening for nearly 150,000 people, covering major regions such as Java, Sumatra, Kalimantan, and Sulawesi. This attention and investment not only improve the health of the local population but also earn Guangzhou Wondfo Biotech a good social reputation. Furthermore, in July 2023, Guangzhou Wondfo Biotech signed a strategic cooperation agreement with Kimia Farma (KAEF), an Indonesian state-owned pharmaceutical company. This cooperation will further promote the company's business development in Indonesia and provide local people with more high-quality medical products and services. In terms of localized production, Guangzhou Wondfo Biotech has taken active measures. As early as 2021, the company invested in and completed the localization of a factory in Mexico, successfully participating in tenders from local public medical institutions. Building on this experience, in November 2023, Guangzhou Wondfo Biotech's fully supported diagnostic reagent manufacturing factory, Microhaem Scientifics (MHS), was newly launched in Uganda. This marks another important milestone in the company's overseas localization production. The establishment of the Uganda factory will reduce Africa's reliance on imported diagnostic reagents and provide high-quality and more affordable diagnostic reagent products to the local population, benefiting more people in Africa. This initiative will further drive the company's international business development and increase market share. While promoting localized operations, Guangzhou Wondfo Biotech also strengthens its collaboration with international organizations. In 2018 and 2022, the professional version of Guangzhou Wondfo Biotech's HIV testing product and its HIV self-testing product respectively obtained WHO PQ certification. These products were included in the list of recommended procurement for in vitro diagnostic products. In July 2022, Guangzhou Wondfo Biotech collaborated with MedAccess, ClintoThe Health Access Initiative (CHAI) has reached a 5-year volume-based procurement price agreement to provide HIV self-testing (HIVST) at a price of $1 per person. This offer is available to all public sector purchasers in 140 low- and middle-income countries. The price is more than 30% lower than the current lowest pre-qualification testing price set by the World Health Organization (WHO). This makes Guangzhou Wondfo Biotech's HIV self-testing kit the most affordable option in the market with WHO pre-qualification status.Looking ahead to the future, as the global population naturally increases and the degree of population aging rises, the demand for the healthcare industry will continue to increase. For the IVD industry, the pace of going global has already been predetermined. With Guangzhou Wondfo Biotech's existing overseas market layout, mature market sales channels, diverse product layouts, strong registration certificate advantages, and the deepening implementation of localization operation strategies, it is expected to become the "vanguard" of international market development.