Today, the most explosive news in the cosmetics circle is not which big brand launched a new product, but that Vicky Technology has gone public.
This Shenzhen company, which makes cosmetic peptide raw materials, was listed on the Beijing Stock Exchange today. Its issue price was over 22 yuan, and it closed directly at 155 yuan, a gain of nearly 600%, with a market value of 9.1 billion yuan. To put it bluntly, the annual revenue of most OEM factories here combined might not even reach a fraction of theirs.
But don't just watch the excitement. Vicky's listing sends a very clear signal to those doing OEM and those doing brands—capital has already voted with real money on the peptide path.
First, a few hard data points. Vicky holds 69 invention patents and 22 new raw material filings, and ranks first in China's peptide raw material market with a 6.6% share. Its client list is staggering: P&G, Unilever, Proya, Giant Biogene, Marubi, and Voolga. At the time of listing, Proya and Giant Biogene also directly took stakes as strategic investors.
What does this show? It shows that top brands not only buy your raw materials but also want to lock you in tightly.
But Vicky's scale is actually not large—its 2025 revenue was only 275 million yuan. A company with less than 300 million yuan in revenue can reach a market value of 9.1 billion yuan, with a price-to-earnings ratio of more than 30 times. The valuation given by the capital market is not based on how much money you make now, but on what direction you represent. Peptide raw materials are that direction.
The global peptide raw material market was 1.54 billion US dollars in 2024 and is expected to reach 3.08 billion US dollars by 2029, with a compound annual growth rate of 12.1%. This growth rate is extremely explosive within the cosmetics raw material industry.
So what does this have to do with OEM/ODM factories? A great deal.
When brands now look for OEM factories, the most frequent question they ask is "Can you make peptide series?" It is no longer the old level of casually finding a basic formula, filling it, and shipping it out; rather, it requires support at the raw material end, registration certificates, and efficacy data.
To be honest, there are many factories in China that can do peptide OEM, but those that truly run the entire chain from raw materials to finished products can be counted on one hand. For a factory like ours that has been doing this for more than ten years, holds more than 100 registration certificates, and has four major bases, when a brand asks about peptides, we can at least offer more than a dozen mature formulas for them to choose from, from repair liquids to freeze-dried powder to sheet masks, with packaging forms freely combinable.
After Vicky's listing, the heat of the peptide track will certainly rise. For OEM factories, the window period is just this long—whoever expands the peptide product line first will be the first to capture this wave of dividends.
One last point: Vicky's founder Ding Wenfeng is a PhD in peptide medicinal chemistry from Peking University. He approaches cosmetic raw materials with the mindset of making drugs. The threshold for this path is high, but once you get through it, it becomes a barrier. The same applies to the OEM industry. The era of grabbing orders solely through low prices has passed; what comes next is a contest over who has real substance.
(Data sources: Shanghai Securities News, 21st Century Business Herald, Frost & Sullivan report, Vicky Technology prospectus)
Company profile: Guangdong Weitai Biotechnology Co., Ltd., a national high-tech enterprise, has focused on cosmetics registration number + medical device registration number OEM/ODM for more than ten years, with four major production bases, 72 patents, more than 110 Class II medical device registration filings, more than 800 partner brands, and certifications including ISO13485, ISO22716, and US GMPC.
