Sunmax Biotechnology, a collagen implant manufacturer, successfully passed its earnings distribution plan at its shareholders’ meeting yesterday (18th), approving a cash dividend of NT$11.6 per share. Chairman Barry Lin said after the meeting that although the economic outlook remains weak—especially in the medical aesthetics sector—the company’s uniquely positioned products remain in short supply. While the new factory is not expected to be fully operational until the first half of 2027 at the earliest, Sunmax obtained manufacturing approval under the medical device Quality Management System (QMS) guidelines at the end of April. This will allow the company to gradually start producing bulk solution for filling at the old plant, which will contribute incrementally to performance. Lin expects revenue growth momentum to strengthen somewhat this year, though a significant jump in performance will wait until the new factory’s full-scale production begins.
At today’s shareholders’ meeting, Sunmax approved the 2024 business report and financial statements, reporting consolidated revenue of NT$1.818 billion, a 7.64% increase from the previous year; net profit attributable to the parent company reached NT$679 million, up 8.58% year-on-year; earnings per share (EPS) stood at NT$12.47. The earnings distribution plan, including the NT$11.6 cash dividend per share, was also approved.
Regarding market conditions, Lin said that the overall economy is sluggish, with the medical aesthetics industry facing particularly severe challenges, as consumers tend to reduce spending during downturns. However, demand for collagen is on the rise, and market penetration is gradually increasing. Compared with hyaluronic acid products, collagen still has significant growth potential. For example, among female consumers, hyaluronic acid products are already widespread, but many report that their effects are not long-lasting and that prolonged use can lead to stiffness.
Lin emphasized that Sunmax’s products focus on replenishing the body’s naturally lost collagen and have whitening properties—a major advantage. Although current market share remains modest, the growth potential is substantial, especially for Asian consumers, for whom these products hold greater appeal.
Currently, the annual production capacity of collagen implants is 300,000 doses, and demand still exceeds supply. Essentially, whenever stock is available, customers quickly purchase it, and sales have not been affected by the economic downturn. As for the new factory, official production is expected to start between the first and second quarters of 2027. Before that, the new facility will begin producing bulk solution, which will be sent back to the old factory for filling. This will allow the old plant to concentrate on syringe production and contribute positively to overall results.
Sunmax’s fourth-generation long-lasting collagen implant received TFDA sales approval in March 2024, and the company is preparing its NMPA application. The new product is priced higher, which will help optimize the product portfolio. Additionally, Sunmax is actively expanding into ASEAN markets. Different formulations of collagen implants have obtained product approvals in the Philippines, Singapore, Malaysia, Thailand, and Vietnam, and the products are already on sale in Singapore, the Philippines, and Malaysia.
With the old factory operating at full capacity, sales volume in 2025 is expected to be similar to 2024, maintaining a stable level. However, through growth in new product sales, an increased revenue share, expansion of overseas markets, and gradual contribution from bulk solution production at the new factory, Lin said operations will continue steady growth this year, with momentum likely stronger than last year. Still, a significant performance leap will await the new factory’s full mass production in 2027.
Resource: 雙美新廠通過QMS，原液生產逐步貢獻，今年營收成長力有望轉強
