The unit price of Ruisheng Biotech's oral bone powder and bone membrane products increased by 45% mo

*Image source: Haili Biological Announcement No. 2025-058

Good Dental News |Recently, Shanghai Haili Biological Technology Co., Ltd. (hereinafter referred to as "Haili Biological") disclosed price trend data for its subsidiary Shaanxi Ruisheng Biotechnology Co., Ltd. (hereinafter referred to as "Ruixing Biological")'s oral care products (bone powder and bone membrane) in its reply to the regulatory letter from the Shanghai Stock Exchange. The data shows that after industry price competition since the second quarter of 2025, the unit price of Ruisheng Biological's oral care products increased by 45% month-on-month in November.

The announcement indicates that the inclusion of bone powder and bone membrane in the supplementary list of products exempt from clinical evaluation by the National Medical Products Administration in March 2024 lowered market entry barriers, leading to an influx of new competitors. Starting from the second quarter of 2025...Overall product prices in the industry have generally decreased by more than 50% compared to 2024.。

*Image source: Haili Biological Announcement No. 2025-058

Looking at the month-on-month price data for Ruisheng Bio's dental products, the price reductions were concentrated between April and October 2025: 4.It decreased by 15% month-on-month in May, 21% in June, and continued to decline from July to October.

According to the company's disclosure, in order to maintain the stability of its sales channels, Ruisheng Bio further balanced costs from July to October by "increasing promotional efforts and shipment volume" after lowering prices in June.

The announcement indicated that the rate of price decline for Regenerist Biotech's products narrowed starting in the third quarter.The unit price rose 45% month-on-month in November.The price for distributors has been adjusted accordingly, and the price difference with channel prices has returned to the normal level.

Haili Bioanalytical believes that the current price reduction of 60%-70% has squeezed the industry's overall profit margin and led to a continued decline in gross profit margin. This has, on the one hand, reduced the enthusiasm of external capital to participate in competition—Since October, only two new bone meal registration certificates have been issued, while no new bone membrane registration certificates have been issued.On the other hand, new competitors could not sustain a price war for long because they had not yet achieved economies of scale, and the prices of core competitors remained relatively stable after the third quarter.

Besides price competition, changes in tax policy have also put pressure on Raycus Biotech's performance. The announcement disclosed that Raycus Biotech will no longer enjoy the 3% simplified VAT collection preferential rate starting in May 2025, and will instead be subject to a 13% VAT rate. Furthermore, due to lower raw material purchase prices and less deductible input VAT, [the company faces challenges].The negative impact on revenue and profit is estimated to exceed 7 million yuan.。

*Image source: Haili Biological Announcement No. 2025-058

If calculated based on the preferential tax policy, Ruisheng Bio's operating revenue in the third quarter of 2025 was RMB 29.3734 million and net profit was RMB 11.4993 million (the actual financial report data were RMB 26.774 million and RMB 9.2898 million, respectively).

*Image source: Haili Biological Announcement No. 2025-058

Haili Bio stated that, according to the annual sales target breakdown, the sales completion rate as of November was close to 90%. Ruisheng Bio's sales exhibit a concentrated shipment pattern at the end of each quarter, and fourth-quarter performance will be reflected in December.It is expected that the performance commitment target of 50 million yuan for 2025 can be achieved.According to the company's disclosure, Rexon Biotech will offset the impact of declining prices by increasing its market share.

Good Teeth (previous report)On December 2, Haili Biological announced its plan to acquire the remaining 41% stake in Ruisheng Biological held by Meilun Company through a "debt-for-equity swap," increasing its shareholding from 55% to 96%. The regulatory letter primarily inquired about the necessity of the transaction, the reasonableness of the valuation, and the associated risks.