Vitamin Prices Surge Sharply; 8 Concept Stocks Receive Intensive Institutional Research

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Securities Times Reporter Chen Jiannan

Recently, prices of products such as vitamin A and vitamin E have surged significantly. According to Baichuan Yingfu data, since the outbreak of Middle East conflicts at the end of February, vitamin A prices have risen from 59 yuan/kg to 80 yuan/kg, an increase of 35%; vitamin E prices have increased from 57 yuan/kg to 79 yuan/kg, a rise of 38%.

Regarding the reasons for the price increases, Pacific Securities stated that Europe has substantial production capacity for vitamin A and vitamin E. The ongoing Middle East conflicts have led to significant fluctuations in oil and gas prices; additionally, the closure of the Strait of Hormuz has put considerable pressure on natural gas supplies to Europe, potentially affecting the stable production of products like vitamin A and vitamin E.

China Post Securities also noted that the prices of vitamin raw materials were at historically low levels before the recent increases. The rise in upstream chemical raw material costs and shipping prices has stimulated industry control and increased willingness to raise prices. Since vitamins are mainly used as feed additives with a very low cost proportion, downstream sensitivity to price changes is low, making price hikes easier and more feasible.

Public data shows that there are about seven major global producers of vitamin A, with European company BASF having a capacity of approximately 14,000 tons per year, accounting for about 27% of the global share, ranking first. Xinhua Cheng, Andes Su, and Zhejiang Medicine have capacities of 8,000 tons/year, 5,000 tons/year, and 5,000 tons/year respectively, also being important producers. The global supply structure of vitamin E is similar to that of vitamin A, characterized by oligopoly, with European capacity accounting for about 40%.

According to Securities Times Data Treasure, there are a total of 16 stocks related to the vitamin concept. Among them, Xinhua Cheng is the only company with a market value exceeding 100 billion yuan. Since the Chinese New Year, the company’s stock performance has been strong, with a peak increase of over 30% after the holiday.

Huatai Securities stated that Xinhua Cheng’s capacity for amino acids and vitamins has a significant competitive advantage over overseas companies in terms of energy, labor, and manufacturing costs. As overseas supply stability declines and potential exits occur, the company’s global market share is expected to continue growing.

In the past year, eight stocks including Xinhua Cheng, Weixin Kang, Minsheng Health, and Jindawei have been surveyed by institutions five or more times.

In January, Xinhua Cheng indicated that the prices of its main nutritional products are fluctuating due to supply and demand factors. The company is actively expanding domestic and international markets through production-sales linkage. Since the fourth quarter of last year, vitamin prices have stabilized and rebounded.

In February, Weixin Kang reported that its injectable multivitamins (12) were selected in multiple provincial alliance procurement programs, including the Henan nineteen-province alliance.

In January, Jindawei stated that the Coenzyme Q10 market has broad prospects, with steady demand in overseas markets such as the U.S., and gradually releasing demand in domestic and emerging markets. After completing its expansion and renovation projects, the company plans to gradually increase capacity based on market demand and production ramp-up.

Regarding performance, six concept stocks have released 2025 performance forecasts. Brothers Technology and Shengda Biological announced expected increases, Nengte Technology forecasted a turnaround from loss, Andes Su reported a slight decline in net profit, while Guangji Pharmaceutical and Xinno Wei forecast losses.

Brothers Technology expects a net profit attributable to parent company of 85 million to 110 million yuan in 2025, a year-on-year increase of 108.26% to 169.52%. The company stated that the growth is mainly due to higher prices for some vitamin products, increased sales of related projects like phenylbenzene, and reduced costs for some products, leading to overall improved profitability.

Shengda Biological expects a net profit attributable to parent of 50 million to 65 million yuan in 2025, a year-on-year increase of 69.93% to 120.90%. During this period, the company improved operational efficiency and cost structure through refined management and technological upgrades, deepened differentiated competitive strategies, expanded market efforts, and seized market opportunities, boosting overall profitability.

Nengte Technology forecasts a turnaround to profit in 2025, with net profit attributable to parent estimated at 200 million to 250 million yuan. The company said its wholly owned subsidiary Nengte Technology Co., Ltd.’s vitamin E business remains strong, generating profits of no less than 660 million yuan, significantly boosting the company’s 2025 operating results compared to the previous year.

Andes Su achieved revenue of 17.231 billion yuan in 2025, up 10.92% year-on-year; net profit attributable to parent was 1.155 billion yuan, down 4.13%. The company plans to distribute a cash dividend of 1 yuan (tax included) per 10 shares to all shareholders. Andes Su is a key player in the vitamin market, offering a full range of vitamin products including A, B, D3, E, H, etc., with about 20% capacity share in the feed-grade vitamin A market.