Hsin Hui Drives Growth with Three-Pronged Strategy, Actively Expanding into ASEAN Markets

Hsin Hui (1734-TW) Vice President Chen Chih-Hsiao stated that the company is driving revenue growth through three core engines: pharmaceuticals, functional foods, and medical beauty skincare. Cumulative revenue for the first eight months of this year reached NT$2.29 billion, a 5.83% year-on-year increase. Additionally, Hsin Hui is actively expanding into ASEAN markets, with operations gradually gaining traction in Thailand, Vietnam, Indonesia, and Malaysia.

Hsin Hui's cumulative revenue for the first eight months of 2024 amounted to NT$2.29 billion, up 5.83% year-on-year. The gross profit margin for the first half of the year was 45.4%, an increase of 2.65 percentage points from the previous year. Chen explained that functional foods are the key driver behind the improved profitability.

On new product development, Hsin Hui plans to obtain certification for four pharmaceutical products next year, launch five new functional food products, and introduce nine new cosmetic items.

Regarding new market expansion, in the Japanese market, Hsin Hui is co-developing and manufacturing products with a Japanese pharmaceutical company, while also distributing Japanese products domestically. Newly signed agreements include代理 for digestive system medications and contract manufacturing of oncology drugs for export, which are expected to strengthen the product portfolio and improve production line utilization and export ratios.

In ASEAN markets, Hsin Hui expects one product to receive certification in Vietnam this year, while multiple products are under registration in Thailand, Malaysia, Indonesia, and Hong Kong, with planned launches by 2027.

Progress has also been made in API (Active Pharmaceutical Ingredient) development, with four certifications obtained in the past two years and two more under development. The company is simultaneously advancing strategic partnerships and expanding distribution channels within Taiwan.

Regarding subsidiary Hsin Guo (4192-TW), its core development—fish-derived extracellular vesicles—received the International Nomenclature of Cosmetic Ingredients (INCI Name) in February this year. Going forward, Hsin Guo will collaborate with medical aesthetics experts to evaluate clinical efficacy and transform existing technologies and products into sustainable revenue streams.

In addition to promoting precision functional products, Hsin Guo will further conduct customer and application-side validation for FECV-01, with its new drug platform focusing on collaboration and licensing as key strategies.