Dong-EE-Jiao (000423.SZ) 30th Listing Anniversary Event Takeaways

Research evidence excerpt

Dong-EE-Jiao (000423.SZ) 30th Listing Anniversary Event Takeaways

Flash |

29 Jul 2026 07:24:39 ET │ 11 pages

Dong-EE-Jiao (000423.SZ)

30th Listing Anniversary Event Takeaways

CITI'S TAKE

Buy We attended DEEJ’s 30th Listing Anniversary Event in Shenzhen on Jul 29.

President Jie Cheng in his speech mentioned the 15th Five-Year Plan and Price (29 Jul 26 15:00) Rmb53.800

strategic focus of prioritizing R&D and innovation capabilities, as well as Target price Rmb64.000

investment and M&A. DEEJ will allocate resources appropriately across Expected share price return 19.0%

three growth drivers – Ejiao series, Deer & Cistanche-made products and Expected dividend yield 5.4%

Anti-Aging & Beauty Track. We view DEEJ as a unique defensive stock with Expected total return 24.3%

stable growth outlook and 5-6% dividend yield; Buy.

Market Cap Rmb34,423M

US$5,084M

15th Five-Year Plan and Three Growth Drivers — Management's core strategies for

the "15th Five-Year Plan" period (2026–2030) include: prioritizing R&D and

innovation capabilities, making investment and M&A a strategic focus, and

leveraging capital instruments to drive business growth. DEEJ also has a dual-wheel Zoe BianAC

growth strategy — industry + culture, and pharmaceuticals + health consumer +852-2501-2752

goods. The company will deploy resources along three growth drivers, with a zoe.bian@citi.com

majority of resource allocation on Ejiao series, followed by men’s health products John Yung, CFA

and then other anti-aging & beauty products. +852-2501-2790

john.yung@citi.com

• Driver 1 — Ejiao series: Mgmt. expect Compound Ejiao Syrup to maintain

Eva Zhao, CFA good growth momentum during the 15th FYP. Clinical research

+852-2501-2701 breakthroughs are cited as a key enabler for further market expansion.

eva.zhao@citi.com