Golden Throat Group: Sustained Performance Growth Drives Long-Term Value Release in Multiple Dimensions
As a niche sector, throat health has seen rigid demand growth due to air pollution, diversified voice usage scenarios, and heightened health awareness in the post-pandemic era. Meanwhile, policy support continues to drive the development of traditional Chinese medicine (TCM), coupled with consumer preference for "medicine-food homology" products. The throat lozenge market, which combines efficacy and convenience, is entering an expansion phase, with companies possessing product and brand advantages poised for long-term benefits.
Goldzhe Group (06896.HK) maintains its leading position in the industry with strong technological barriers and deep brand heritage. Recently, Goldzhe Group announced its 2024 performance, with revenue increasing 23.3% year-on-year to RMB 1.185 billion and profit attributable to equity holders rising 27.3% year-on-year to RMB 319 million.
Thanks to sustained operational improvements, Goldzhe's stock price has surged over 20% year-to-date in 2025, significantly outperforming the Hang Seng Healthcare Index, reflecting market recognition of its growth logic. In fact, the company's stock has been strong for years, hitting a high of HKD 4.20 on April 3, the highest level since October 2016.
Looking back at 2024, Goldzhe Group achieved remarkable results in business expansion. Domestically, the company built an extensive sales network to reach every consumer in need. Internationally, it strengthened global outreach through platforms like YouTube and TikTok, cultivating a loyal overseas consumer base. To date, Goldzhe's YouTube channel has garnered nearly 80 million impressions and over 4 million video views, laying a solid foundation for promoting "Made in China" abroad. So far, Goldzhe products have been exported to more than 60 countries and regions across five continents.
As a leader in the throat care market, Goldzhe Group's core products—Goldzhe Throat Tablets (OTC) and Goldzhe Throat Care—continue to show strong growth momentum, contributing steady cash flow. Notably, Goldzhe Throat Tablets have gained consumer trust, with demand surging after being listed in Beijing's recommended medication catalog for COVID-19 patients in 2022. In 2024, Goldzhe Throat Tablets won first place in the "TCM - Throat Care" category and the "Golden Product" award in China's OTC product rankings.
While consolidating its core product advantages, Goldzhe Group is actively expanding into the broader health sector. The company has built a diverse product portfolio, including Ginkgo Leaf Tablets and Goldzhe Gut Care, and recently launched Goldzhe Probiotic Lozenges. These lozenges use proprietary strains and six patented active probiotics, employing advanced technologies like triple-layer encapsulation and 360-degree thermal radiation freeze-drying to ensure probiotic quality. This new product is expected to drive additional growth, further enriching the product lineup to meet diverse consumer needs and enhance market competitiveness.
Additionally, to meet growing demand, Goldzhe Group is steadily expanding production capacity. The company has completed the debugging and trial production phases for its new R&D and manufacturing base, which is expected to significantly improve product quality and technological sophistication, boosting overall competitiveness. Construction of the second-phase facility for its health product line is also progressing smoothly, with interior finishing set to begin. Once completed, the second phase will further solidify Goldzhe's technological edge in core areas and accelerate the development of its health business.
In summary, Goldzhe Group is expanding from throat health into the broader health industry, deepening its "single brand, multiple categories, multi-channel" strategy. In the short term, rigid demand for core products supports stable performance; in the medium to long term, health sector expansion and new product launches will open additional growth space. Backed by strong industry tailwinds, the company's growth prospects remain promising.
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