On December 25, 2023, Zhejiang Paipeptide Bio*** applied for the withdrawal of the issuance and listing application documents, and the Exchange decided to terminate the review of its initial public offering** and listing on the GEM. 
Zhejiang Peptide Biology Co., Ltd. *** Peptide Biology").Mainly engaged in the research and development, production, sales and related services of peptide products, it is a national specialized and new "little giant" enterprise with advanced and efficient peptide synthesis, purification and large-scale production capacity。Relying on the industry's leading core technology advantages in peptide synthesis and modification, the company provides downstream customers with peptide cosmetic raw materials and peptide pharmaceutical products and related services. Peptide cosmetic raw materials are a class of peptide products with first-class care effects, which are added to cosmetics at a certain concentration to produce protective and repairing effects
The company is a leading peptide cosmetic raw material manufacturer in ChinaIt has signal peptides (anti-aging), neurotransmitter inhibitory peptides (anti-wrinkle), carrier peptides (repair) and special functional peptides (others).and other effectsPeptide cosmetic raw material productsAt the same time, it focuses on the innovation of peptide cosmetic raw material formulations and products. The company has leading peptide cosmetic raw material development technology and large-scale production capacityProvide one-stop solutions for peptide cosmetic raw materials for well-known cosmetics companies such as Proya, Bloomage Biotech, and Marubeni.
In terms of peptide pharmaceutical related services, the company relies on its rich experience accumulated in the field of drug development for many years to provide customers with peptide API R&D and customized manufacturing services (CDMO CMO) and peptide pharmaceutical research services (CRO). During the reporting period, the company's main business income is as follows:
In each period of the reporting period, the gross profit margin of the company's main business was as follows. 90% and 6593%, at a relatively high level, the gross profit margin of the company's peptide cosmetic raw material products are. 50% and 7747%, the revenue proportion and gross profit margin of various peptide cosmetic raw materials are as follows:
Controlling shareholder and actual controllerThe company does not have a direct shareholder holding more than 30% of the shares, and the voting rights enjoyed by a single direct shareholder according to the shares held by him are not sufficient to have a significant impact on the resolution of the general meeting of shareholders. Therefore, the company has no controlling shareholderXing HaiyingThrough direct shareholding and Hanyuan Investment, Fuyue Investment, Zhongxin Enterprise, and Xinghan Investment, the total control of Peptide Biotech is 3277% of the voting rightsHe is the actual controller of Peptide Biotech
Ms. Xing Haiying, born in 1978, female, Chinese nationality, no right of permanent residence abroadHe graduated from Hong Kong University of Finance and Economics with a master's degree in business administration。From May 2001 to January 2013, he served as the assistant to the director of Zhejiang Pharmaceutical Co., Ltd. Xinchang Pharmaceutical FactoryFrom February 2013 to June 2015, he served as the deputy general manager of Xinchang Yueding ChemicalSince July 2015, he has served as the chairman and general manager of the issuer. The share capital structure before and after the issuance is as follows:
Key Financial Data and Financial Indicators
The specific listing criteria selected by the issuer: The net profit in the last two years is positive, and the cumulative net profit is not less than 50 million yuan. Use of raised funds
The public offering** does not exceed 1,39030.66 million shares, not less than 25% of the total share capital after issuance, and it is expected to raise 12451.1 billion yuan, mainly used to invest in the following projects:
The customer concentration is highDuring the reporting period, the company's sales revenue to the top five customers was 4,832870,000 yuan, 7,860$750,000 and $12,791230,000 yuan, accounting for the proportion of the company's operating income respectively. 00% and 5959%。The company's customer concentration is relatively high, and if the company's main customers are lost or the operating conditions of major customers deteriorate in the future, it will have a great adverse impact on the company's business.
In each period of the reporting period, the company's sales to the top five customers are as follows:Unit: 10,000 yuan
Risks of related party transactionsChina Resources Shuang Hor holds 2529% of the shares, and was also one of the company's major customers during the reporting period. During the Reporting Period, the Company mainly provided peptide CDMO services and API advanced pharmaceutical intermediates products for China Resources Shuanghe, and the transaction amount between the Company and China Resources Shuanghe in each period of the Reporting Period was 1,619650,000 yuan, 663780,000 yuan and 1,117070,000 yuan. In the future, if CR Shuanghe's related preparations are successfully marketed and sold by the company's ** related peptide APIs, it is expected that the company's related party transactions with CR Shuanghe will continue to occur and the transaction amount may increase.
The risk of increased competition in the industryIn recent years, the gradual release of market demand for peptide products, the peptide product market has continued to develop rapidly, and more enterprises focusing on the research and development and production of peptide products have emerged, which usually have strong financial strength, technical level and customer coverage, resulting in intensified competition in the industry. The comparison of the issuer's main key business data and indicators with comparable companies in the same industry in 2022 is as follows: