Lüjing Biotechnology (873691): The application for listing on the Beijing Stock Exchange has completed the tutoring and filing, a “specialized, sophisticated, distinctive, and innovative” small and medium-sized enterprise in Zhejiang Province, and a leading company in China’s flavoring industry

The board of Zhejiang Lvjing Bio-Technology Co., Ltd. released an announcement on March 31. The announcement states that on March 31, 2026, the Zhejiang regulatory bureau accepted the company’s filing materials for the first public offering of shares and its listing guidance on the National Equities Exchange and Quotations (NEEQ), for which the company’s guidance institution is Ping An Securities.

Dongbi Finance learned that the company is mainly engaged in the research and development, production, and sales of edible flavorings. Its main products are various sweet flavorings used as production additives in dairy products, beverages, frozen desserts, and baked foods. The company is one of the leading enterprises in China’s flavorings industry and one of the main domestic suppliers of sweet flavorings. It is one of the top ten companies in China’s light industrial flavorings and essences industry (flavorings). It is also a member unit of the China Flavorings and Essences Standardization Technical Committee for Cosmetics, and a vice director unit of the China Flavorings and Essences Cosmetic Association. The company was rated as a “specialized, refined, distinctive, and innovative” small and medium-sized enterprise in Zhejiang Province. Its trademark “Lvjing Flavorings” was rated as a famous trademark in Zhejiang Province, and its products were rated as Zhejiang Famous Brand products.

According to relevant data, the global market size for edible flavorings in 2025 is expected to reach 25.6 billion USD, with a compound annual growth rate of 6.24% from 2025 to 2032. By 2032, it is expected to increase to 39.11B USD. As the world’s largest food producer and consumer country, China’s edible flavorings market has particularly strong growth momentum. In 2024, China’s edible flavorings market size reached RMB 23.61B, up 4.59% year over year. In addition, industry data shows that in 2025 China’s edible flavorings market size is expected to be close to RMB 30.6 billion; in 2026, it is expected to exceed RMB 33 billion. The annual growth rate is expected to remain in the 8%-10% range.

From the industry outlook, the edible flavorings industry has long-term growth resilience, with value enhancement driven by both technological innovation and demand upgrades. The application of cutting-edge technologies such as biotechnology, AI flavoring, and supercritical extraction in the research and development and production of flavorings continues to deepen, driving ongoing improvements in product purity, stability, and flavor-reproduction accuracy, while also reducing production costs. It is estimated that the share of biotech-prepared flavoring products will reach 28% in 2025, increasing by 4 percentage points compared with 2024. Customized and personalized flavorings are becoming the development direction. The demand from food companies for exclusive flavors and differentiated taste has prompted flavoring companies to increase investment in customized R&D. In 2024, the number of customized flavoring orders grew by more than 20% year over year.

In terms of performance, according to the company’s disclosed 2025 interim report, the company achieved operating revenue of RMB 115.5 million, up 11.93% year over year, and net profit of RMB 41.10 million, up 14.65% year over year.