Jiangxi Fushine Pharmaceutical

What Jiangxi Fushine Pharmaceutical does

Jiangxi Fushine Pharmaceutical is a publicly listed (Shenzhen ChiNext, ticker 300497) Chinese chemical and biotechnology manufacturer headquartered in Jingdezhen, Jiangxi Province. Founded in 2002, the company operates three business segments: pharmaceutical manufacturing (beta-lactamase inhibitors and carbapenem antibiotics including sulbactam, tazobactam, piperacillin, sultamicillin, and meropenem intermediates), new energy materials (lithium battery electrolyte additives such as vinylene carbonate and fluoroethylene carbonate), and synthetic biology (microbial mycoprotein branded as FuNext, plus amino acid water-soluble fertilizers). Its pharmaceutical APIs are sold to global drug manufacturers; new energy materials supply lithium battery cell producers; and mycoprotein targets food and beverage companies as a sustainable protein alternative.

The company's technology platform rests on proprietary fermentation (Fusarium brachygibbosum strain for mycoprotein), continuous-flow enzymatic asymmetric synthesis for carbapenem intermediates, and a triazole process for tazobactam production. It operates 8 standardized production bases with ~1,700 employees, 300+ R&D personnel, and 88+ national patents. The pharmaceutical segment holds #1 global share in sulbactam (approximately 60%) and #2 in tazobactam; the new energy segment ranks #3 globally in VC shipments with 8,000+ tons annual capacity.

Fushine generates revenue primarily through B2B direct sales of APIs, intermediates, and materials to enterprise customers under negotiated contracts. Pharmaceutical and new energy products are sold directly to global drug manufacturers and battery producers through an in-house sales team and international exhibitions (CPHI, CIBF). The mycoprotein business uses a hybrid model: direct enterprise sales combined with the WeiRan New Protein Co-creation Alliance, a multi-brand ecosystem with international food companies. The company expanded internationally in 2024-2025 with new subsidiaries in Shanghai and Singapore, a JV with Yihai Kerry for Heilongjiang-based production, and exclusive technology licensing from the Zhejiang Academy of Agricultural Sciences to extend into agricultural biologicals.

Name

Jiangxi Fushine Pharmaceutical

Legal name

江西富祥药业股份有限公司 (Jiangxi Fushine Pharmaceutical Co., Ltd.)

Website

https://fushine.cn

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Jiangxi Fushine Pharmaceutical is a Chinese API manufacturer operating three segments: beta-lactam antibiotics (global #1 sulbactam, #2 tazobactam), lithium battery electrolyte additives (global #3 VC), and synthetic biology mycoprotein (FuNext), selling to global drugmakers, battery producers, and food companies.

Ownership category

akta.pro rank

Product category

Pharmaceutical Manufacturing (Active Pharmaceutical Ingredients and Intermediates)

NAICS

Medicinal and Botanical Manufacturing (325411), Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing (3253)

SIC

Medicinal Chemicals & Botanical Products (2833), Chemicals & Allied Products (2800)

akta.pro primary industry

Commodity Surfactants & Detergent Base Chemicals (IMAEAAAI)

Keywords

• Active pharmaceutical ingredients
• Beta-lactamase inhibitors
• Lithium battery electrolyte additives
• Microbial protein fermentation
• Synthetic biology products

Headquarters

HQ city

Jingdezhen

HQ country

China

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Infrastructure, Operations, Marketing or Sales

Revenue model

1. 医药原料药及中间体销售: 公司医药制造板块从事抗感染药物原料药及中间体的研发、生产和销售，主要产品包括他唑巴坦、舒巴坦酸、舒他西林、哌拉西林、培南类中间体等。产品销往全球数十个国家和地区，是全球重要的β-内酰胺酶抑制剂生产基地和主要供应商。该板块是公司的核心业务，贡献主要营收。
2. 锂电池电解液添加剂销售: 公司新能源板块从事锂电池电解液添加剂的研发、生产和销售，主要产品包括碳酸亚乙烯酯（VC）、氟代碳酸乙烯酯（FEC）、双草酸硼酸锂（LiBOB）、硫酸乙烯酯（DTD）等，广泛应用于动力电池、储能电池、消费电池等领域。公司通过富祥科技（景德镇）和富祥（山东）两家子公司运营，已形成一站式电解液材料供应平台。
3. 微生物蛋白产品销售: 公司合成生物板块从事微生物蛋白（未冉新质蛋白）的研发、生产和销售，产品包括干基蛋白、湿基蛋白及终端应用产品。公司已建成1200吨/年微生物蛋白生产线，并正在建设年产20万吨微生物蛋白及资源综合利用项目（一期），建成后可形成年产2万吨微生物蛋白以及5万吨氨基酸水溶肥的规模。产品通过美国SELF-GRAS认证和GRAS认证，可作为食品原料在美国市场销售。
4. CDMO定制服务: 公司提供医药中间体的定制合成服务，以及用于医学诊断中核磁共振成像（MRI）的造影剂和放射性显影剂的制备。此外，相关产品也广泛应用于化学模拟、分子识别、分子磁体、生物和化学反应催化等多个领域。

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Jiangxi Fushine Pharmaceutical researches, manufactures, and sells pharmaceutical APIs and intermediates (beta-lactamase inhibitors including sulbactam and tazobactam, carbapenem intermediates, and other anti-infective APIs), lithium battery electrolyte additives (VC, FEC, LiBOB, DTD), and microbial protein products (FuNext mycoprotein via Fusarium fermentation) along with related amino acid water-soluble fertilizers. Products are exported to dozens of countries globally via direct sales and strategic partner networks.

Product overview

Jiangxi Fushine Pharmaceutical operates as a diversified pharmaceutical and biotechnology company with three core business segments: 1) Pharmaceutical Manufacturing producing beta-lactamase inhibitors and carbapenem antibiotics including Tazobactam (global #2), Sulbactam Acid (global #1 with 60% market share), Piperacillin, Sultamicillin, Meropenem intermediates, and various pharmaceutical intermediates; 2) New Energy Materials supplying lithium battery electrolyte additives including Vinylene Carbonate (VC, #3 global ranking, 8,000+ tons), Fluoroethylene Carbonate (FEC, 3,700+ tons), Lithium Bis(oxalato)borate (LiBOB), and Ethylene Sulfate (DTD); and 3) Synthetic Biology producing FuNext Mycoprotein (microbial protein from Fusarium fermentation, Asia's first ton-scale industrialization) and amino acid water-soluble fertilizers as by-products. The company also produces pharmaceutical preparations and other bio-fermentation products. Stock code 300497 listed on Shenzhen Stock Exchange ChiNext board.

Differentiator

Problem solved

Functional benefit

Brands

• FuNext (未冉): Microbial/mycoprotein product brand produced via Fusarium fermentation; includes dry protein, wet protein, and fresh protein products; marketed as '未冉新质蛋白' (Weiran New Quality Protein). Has obtained US Self-GRAS certification.
• FUNEXT MYCOPROTEIN
• Fushine Biotech (富祥生物)

Products and services

• Tazobactam API (他唑巴坦) Beta-lactamase inhibitor active pharmaceutical ingredient used to treat severe bacterial infections; the company holds #2 global market share.
• Sulbactam Acid (舒巴坦酸) Beta-lactamase inhibitor pharmaceutical intermediate; only internationally certified supplier globally with #1 market share at approximately 60%.
• Piperacillin API (哌拉西林) Antibiotic API for respiratory infections, urinary tract infections, skin and soft tissue infections, septicemia, and abdominal infections.
• Sultamicillin API (舒他西林) Beta-lactam antibiotic API for central nervous system infections and pneumonia treatment.
• Meropenem Crude (美罗培南粗品) Carbapenem antibiotic intermediate used for respiratory infections, CNS infections, abdominal infections, septicemia, and skin infections.
• 4-AA Intermediate (4-乙酰氧基氮杂丁环) Key intermediate for carbapenem antibiotic synthesis produced using continuous-flow enzymatic asymmetric synthesis technology.
• Sitafloxacin API (西他沙星) Quinolone antibiotic API for treating pharyngitis, laryngitis, bronchitis, pneumonia, cystitis, and dental infections.
• Vinylene Carbonate (VC) 碳酸亚乙烯酯 Novel organic film-forming additive and overcharge protection additive for lithium-ion batteries, also used as monomer for polyvinylene carbonate; company holds #3 global shipping volume rank with 8,000+ tons capacity.
• Fluoroethylene Carbonate (FEC) 氟代碳酸乙烯酯 Key additive used in lithium-ion battery electrolytes; 3,700+ tons production capacity.
• Lithium Bis(oxalato)borate (LiBOB) 双草酸硼酸锂 Key functional lithium salt for lithium-ion battery electrolytes.
• Ethylene Sulfate (DTD) 硫酸乙烯酯 Additive used in lithium-ion battery electrolytes.
• FuNext Mycoprotein (未冉新质蛋白) Filamentous fungal protein produced via Fusarium fermentation. High protein, high dietary fiber, low fat, zero cholesterol. Available in dry protein, wet protein, and fresh protein block forms. Obtained US SELF-GRAS and GRAS certifications.
• Amino Acid Water-Soluble Fertilizer (含氨基酸水溶肥料) Water-soluble fertilizer produced from fermentation broth (circular economy byproduct), containing amino acids and trace elements to promote crop growth, enhance stress resistance, regulate metabolism, and improve soil structure.
• Argatroban Injection (阿加曲班注射液) Injectable preparation for treating acute ischemic cerebral infarction within 48 hours and chronic arterial occlusion.
• Doxycycline Hydrochloride Dispersible Tablets (盐酸多西环素分散片) Antibiotic preparation for treating rickettsial infections, mycoplasma, chlamydia, brucellosis, cholera, and other infections.
• Sebacic Acid (癸二酸) White crystalline powder used in low-temperature lubricants, cutting fluids, high-temperature nylon, plasticizers, coatings, and inks.
• Azelaic Acid (壬二酸) White to light yellow crystalline powder used in pharmaceuticals, cosmetics, and industrial applications.
• L-Hydroxyproline (L-羟脯氨酸) White crystalline powder used in cosmetics as collagen raw material, health products, and pharmaceutical intermediates.
• Custom Synthesis / CDMO Services Custom synthesis services for pharmaceutical intermediates, preparation of MRI contrast agents and radioactive imaging agents, and applications in chemical simulation, molecular identification, molecular magnets, and biological/chemical reaction catalysis.

Quantifiable outcome

• 舒巴坦酸全球市场占有率第一（60%），他唑巴坦全球市场占有率第二
• +5 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

21 partnerships are on record, tiered core and minor.

• 浙江省农业科学院coreStrategic or Co-development Partner · 27 May 2026富祥股份与浙江省农业科学院签署正式合作协议，独家获得内生真菌相关专利使用权，浙江省农科院将持续提供技术指导、现场服务与专业咨询。此次合作是富祥股份深化生物制造微生物蛋白业务、完善绿色循环经济产业链的关键布局。
• 江南大学coreStrategic or Co-development Partner · 23 May 2026在第三届全国新质蛋白大会上，江南大学教授堵国成与富祥股份董事兼总工程师李惠跃代表双方签署全面深化战略合作协议，双方将在菌种选育、发酵工艺、产品开发等领域开展深度合作，加速科技成果向现实生产力转化。
• Dukan (法国)coreStrategic or Co-development Partner · 27 September 2025Dukan品牌与富祥生物建立战略合作，共同开发基于未冉蛋白的健康功能预制米饭及即食产品。Dukan CEO表示未冉蛋白高蛋白、高纤维的特点能帮助维护肠胃健康，计划利用新质蛋白技术推出多种零食推向全球市场。
• Foodaily每日食品coreStrategic or Co-development Partner · 27 September 2025Foodaily每日食品是未冉新质蛋白联创商盟的核心战略伙伴之一，与富祥生物共同打造未来食品创新（上海）加速空间，推动新质蛋白技术在食品行业的商业化应用。
• Xintron Ventures食品设计产业加速器（未冉商盟运营方）coreStrategic or Co-development Partner · 27 September 2025未冉商盟（上海）食品科技有限公司负责运营未冉新质蛋白联创商盟体系，与富祥生物共同推动新质蛋白产品的商业化转化和市场推广，首期入驻品牌包括Dukan、FSTea、Lohilo、Amaze、La Fiorida等。
• 百图生科minorStrategic or Co-development Partner · 27 September 2025百图生科是未冉新质蛋白联创商盟的核心战略伙伴之一，参与圆桌对话，共同探讨AI驱动研发与新蛋白产业化的融合路径。
• 高瞻投资minorStrategic or Co-development Partner · 27 September 2025高瞻投资是未冉新质蛋白联创商盟的核心战略伙伴之一，参与联创商盟的发起和建设。
• FSTea (美国)minorChannel Partner/ Reseller/ Distributor · 27 September 2025FSTea为入驻未冉新质蛋白联创商盟的海外品牌之一，将利用未冉蛋白原料开发健康产品并在全球市场销售。
• Lohilo（瑞典）minorChannel Partner/ Reseller/ Distributor · 27 September 2025Lohilo为入驻未冉新质蛋白联创商盟的海外品牌之一，将利用未冉蛋白原料开发健康产品并在全球市场销售。
• Amaze（斯洛文尼亚）minorChannel Partner/ Reseller/ Distributor · 27 September 2025Amaze为入驻未冉新质蛋白联创商盟的海外品牌之一，将利用未冉蛋白原料开发健康产品并在全球市场销售。
• La Fiorida（意大利）minorChannel Partner/ Reseller/ Distributor · 27 September 2025La Fiorida为入驻未冉新质蛋白联创商盟的海外品牌之一，将利用未冉蛋白原料开发健康产品并在全球市场销售。
• 益海嘉里金龙鱼食品集团股份有限公司coreStrategic or Co-development Partner · 1 December 2024富祥药业公告与益海嘉里金龙鱼食品集团股份有限公司及黑龙江省富裕县人民政府合作设立两家合资公司，两家合资公司富祥药业出资合计1.65亿元，合作方向涉及微生物蛋白业务市场拓展。
• 香港绿客盟有限公司coreStrategic or Co-development Partner · 17 May 2024富祥药业与香港绿客盟有限公司签订战略合作协议，涉及成立合资公司、微生物蛋白产品研发和供货等。根据合作协议，香港绿客盟计划根据产品研发进度，三年内拟采购富祥微生物蛋白6000吨。
• 马来西亚Ultimeat (M) Sdn BhdcoreStrategic or Co-development Partner · 17 May 2024富祥药业与马来西亚Ultimeat签订战略合作协议，计划三年内采购富祥微生物蛋白6000吨。Ultimeat同时参与微生物蛋白产学研用产业联盟，与江南大学、江西师范大学等机构联合发布产业联盟倡议书。
• 江南大学未来食品科学中心coreStrategic or Co-development Partner · 17 May 2024江南大学未来食品科学中心是富祥药业微生物蛋白产学研用产业联盟的核心成员之一，与富祥药业在菌种选育、发酵工艺、产品开发等领域开展深度合作。
• 江西师范大学coreStrategic or Co-development Partner · 17 May 2024江西师范大学参与富祥药业主导的微生物蛋白产学研用产业联盟，与江南大学、嘉兴未来食品研究院、宜兴食品与生物技术研究院等机构共同推动微生物蛋白产业发展。
• 慕恩（广州）生物科技有限公司minorStrategic or Co-development Partner · 17 May 2024慕恩生物参与富祥药业主导的微生物蛋白产学研用产业联盟倡议，共同助力微生物蛋白产业高质量发展。
• 嘉兴未来食品研究院minorStrategic or Co-development Partner · 17 May 2024嘉兴未来食品研究院参与富祥药业主导的微生物蛋白产学研用产业联盟，共同推动微生物蛋白产业技术进步和规模化应用。
• 宜兴食品与生物技术研究院minorStrategic or Co-development Partner · 17 May 2024宜兴食品与生物技术研究院参与富祥药业主导的微生物蛋白产学研用产业联盟，共同推动微生物蛋白产业技术进步和规模化应用。
• 江南大学陈坚院士团队coreStrategic or Co-development Partner · 1 January 2023富祥药业与江南大学陈坚院士团队开展全面战略合作，围绕微生物蛋白生产工艺优化、技术创新和下游产品开发等方面进行深入研究。江南大学未来食品科学中心为富祥提供从小试到工业化生产的转化环节支持。
• 江西师范大学涂宗财教授团队coreStrategic or Co-development Partner · 1 January 2023富祥药业与江西师范大学涂宗财教授团队开展产学研合作，围绕微生物蛋白生产工艺优化、技术创新和下游产品开发等方面进行深入研究。2024年10月，双方还签订科技成果转化合作协议，合作研发培南系列全连续流酶法不对称工艺工业合成技术。

Scale indicators21 records

Recent moves7 records

Expansion highlights5 records

Others

• Eat Just: US-based alternative protein company (cultured meat and plant-based) with a strong B2B ingredient brand presence. Adjacent competitor for shelf and foodservice partnerships rather than direct mycoprotein overlap.

Direct peers

• Quorn Foods: UK-based pioneer and global category leader in filamentous-fungal mycoprotein (Fusarium venenatum) for meat analogues. Directly comparable to Fushine's FuNext business on technology, ingredient positioning, and B2B ingredient supply to food brands.
• CSPC Pharmaceutical Group: Hong Kong-listed Chinese pharma group with APIs, intermediates, and finished formulations across anti-infectives and chronic disease. Comparable in scale and breadth of API manufacturing pipeline, including injectable finished dosage forms like Fushine's argatroban.
• Shenzhen Capchem Technology: Shenzhen-listed Chinese lithium battery electrolyte specialist serving global battery manufacturers. Direct comparable on the electrolyte/additives side of Fushine's New Energy Materials business and on Chinese export scale.
• Zhejiang Huahai Pharmaceutical: China-based specialty API manufacturer with a global API/intermediates footprint including anti-infectives. Closest Chinese listed analog to Fushine's beta-lactamase inhibitor and antibiotic intermediate API business.
• Aurobindo Pharma: India-headquartered global leader in generic APIs and finished dosages including beta-lactam antibiotics. Highly comparable on global anti-infective API export footprint, regulatory audit history, and share-driven API strategy.
• Guangzhou Tinci Materials: Shenzhen-listed Chinese supplier of lithium battery electrolyte and additives (including VC/FEC-class products). Direct overlap with Fushine's New Energy Materials segment on product mix and customer base (battery cell makers).

Emerging players

• Perfect Day: US-based precision fermentation company producing animal-free dairy proteins via microbial fermentation. Adjacent emerging player in the broader industrial fermentation/alternative-protein category that competes for the same downstream CPG partnerships.
• Nature's Fynd: US-based early-stage fermentation protein company producing a Fusarium-derived mycoprotein alternative protein. Direct technology and end-product overlap with FuNext, and competing for the same global B2B and brand partnerships.

Broad incumbents

• Sandoz Group: Switzerland-based global generic and biosimilar pharma major (Novartis spin-off) with a substantial anti-infective API and finished product portfolio. Broader incumbent comparable on regulatory footprint, international customer base, and antibiotic scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance16 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jiangxi Fushine Pharmaceutical