GRAPE KING BIO Business Summary

Grape King Bio Ltd (1707.TW) operates a vertically integrated biotechnology business model, generating revenue through three primary segments: Multi-Level Marketing (MLM) via its subsidiary Pro-Partner, self-owned brand distribution, and global OEM/ODM manufacturing. As of early 2026, the company derives approximately 79% of its revenue from its MLM channel, which maintains a dominant 9% share of Taiwan's direct sales market. Its product portfolio is anchored by high-margin health supplements, specifically probiotics and medicinal mushrooms (Ganoderma and Antrodia cinnamomea), where it holds leading Taiwan market shares of 32% and 59%, respectively, alongside its legacy Combest functional beverage line. In the competitive landscape, Grape King Bio competes directly with TCI Co., Ltd. (8436.TW) in the ODM space, and Maywufa Co., Ltd. (1731.TW) and Chlitina Holding Ltd. (4137.TW) in the retail and wellness sectors, distinguishing itself through Asia’s largest fermentation facility and a library of over 4,000 proprietary strains. The company was founded in 1969 by Shui-chao Tseng, whose early focus on pharmaceutical preparations and energy drinks laid the groundwork for its current biotech orientation. Today, the leadership is spearheaded by Chairman and CEO Sheng-Lin (Andrew) Tseng, who holds a PhD from the University of Strathclyde and is credited with modernizing the brand and spearheading international expansion into Southeast Asia. The executive team includes CFO and Corporate Governance Officer Nick Hung, Chief Scientific Officer Duncan Aitken, and Dr. Jin-Chu Chen, who leads the Longtan Research Institute. Notable institutional backing includes a strategic 8% stake held by food conglomerate Uni-President Enterprises Corp, with additional significant positions held by Nanshan Life Insurance and the Norwegian Central Bank (Norges Bank), reflecting a robust mix of strategic and institutional capital.