Specifically, there are 86 enterprises with pre-increased performance, accounting for nearly 70%, of which 54 enterprises expect a substantial increase in performance. The maximum increase of net profit is in Thermoview Bio, reaching 8 1808.47%, while the maximum increase of net profit of Taian Tang, Jinshiya Pharmaceutical and Harbin Sanlian also exceeds 1800%. There are 17 enterprises whose upper limit of net profit increase is in the range of 200%- 1000%, and there are 19 enterprises in the range of 100%. Compared with the same period of last year, Harbin Pharmaceutical Co., Ltd., Kangxinuo, Weiming Medicine, Dong 'e Ejiao and other 15 enterprises are expected to turn losses.
It is worth noting that at present, there are still 15 companies with pre-declining performance, among which the lower limit of net profit decline of Xianghai Pharmaceutical, Yuheng Pharmaceutical, Baotelai, Yifan Pharmaceutical and Jiu 'an Medical all exceeds 70%. There are also 17 companies with pre-loss performance. Sihuan Bio ranked first with a net profit decline of 538.33%, followed by Sino Medical, with a net profit decline of 360.02%. Nanhua Bio, Hainan Haiyao, Guangshengtang and other companies are also expected to suffer losses to varying degrees. In addition, seven companies including Meinian Health, Innovative Medical Care, Asia-Pacific Pharmaceutical, Angel Pharmaceutical and Tianzhihang are expected to reduce losses.
Chemical medicine
Market recovery, growth and performance improvement
Falling prices of APIs hit overseas business hard.
Among the 126 pharmaceutical and biological enterprises whose interim results have been predicted, 32 enterprises belong to the chemical and pharmaceutical sector, ranking second among the six sub-industries. On the whole, enterprises with pre-increased performance occupy a dominant position, reaching 20. Among them, the net profit of Harbin Sanlian and Jinshiya Pharmaceutical increased significantly. However, the reasons driving the performance growth of the two companies are completely different, which is worth thinking about by the industry.
In order to broaden its own development path in the field of medical devices and cosmetics, Harbin Sanlian invested capital in Fuerjia Technology in February this year with a wholly-owned subsidiary Beixing Pharmaceutical 100% equity, and obtained a 5% equity of the pioneer in the domestic medical sodium hyaluronate facial dressing market. This unique foreign investment directly brought an investment income of 566 million yuan to Harbin Sanlian, which is obviously the biggest factor that caused the change in interim results. In the case of weak growth of existing business segments, transnational investment or M&A has become a popular way for enterprises to break through the bottleneck of performance growth. Sailong Pharmaceutical, which ranked sixth in net profit growth, also disclosed that the impact of medium-term non-recurring gains and losses on net profit was about 8.8 million yuan, mainly due to the increase in investment income and fair value change income.
However, the substantial increase in the net profit of Jinshiya Pharmaceutical relies on the performance contribution made by leading fist products. Under the epidemic situation in COVID-19, the public took active protective measures, including wearing masks and washing hands frequently, which led to a sharp drop in the frequency of colds, the market demand for cold medicines and the serious decline in product sales. However, since the beginning of this year, the cold medicine market has gradually picked up. In addition, due to the influence of last year's cold medicine purchase restriction policy, people are worried about the inconvenience of purchasing medicines, which also makes the public intentionally hoard a certain amount of cold medicines. At the same time, the obvious rebound in market demand has also increased the inventory of downstream distributors and chain pharmacies, which has made the sales revenue of "Kuai" brand adult cold medicine and "Xiaokuai" brand children cold medicine of Jinshiya Medicine increase significantly compared with the same period of last year.
With the effective control of the domestic epidemic, the production and sales of enterprises are as usual. In addition to Jinshiya Pharmaceutical, the sales of major products of enterprises such as Guangji Pharmaceutical and Kelun Pharmaceutical also recovered, thus achieving a substantial year-on-year increase in performance from the low base last year. However, some pharmaceutical companies are exploring more possibilities while regaining market certainty. For example, Zhendong Pharmaceutical, which gradually sinks the third terminal, Jiuzhou Pharmaceutical, which continues to increase the layout of CDMO business segments, and Huaren Pharmaceutical, which improves sales channels and opens up incremental markets. On the other side of the coin, Yifan Pharmaceutical Co., Ltd. and Tianyu Co., Ltd., whose raw material drug prices and overseas business profits both fell, and Yongan Pharmaceutical Co., Ltd., whose main product taurine profits fell, all experienced a diving performance, with net profit falling by more than 50%; Hainan Haiyao, whose investment income declined, and five pharmaceutical companies, including Guangshengtang, Frontier Bio and Zejing Pharmaceutical, which continued to increase R&D investment, all predicted performance losses.
traditional Chinese medicine
Stripping medical e-commerce, the investment profit exceeds 700 million.
Non-main business brings the top two growth of net profit.
A series of favorable policies have injected a tonic into the Chinese medicine sector and ushered in a bright spot for development. Among the 20 Chinese medicine enterprises that have predicted interim results, the number of enterprises with pre-increased performance reached 14, and the performance of 12 pharmaceutical companies such as Taian Tang, Taiji Group and Zheng Qi Tibetan Medicine all increased significantly. If we count Jiaying Pharmaceutical, Dong 'e Ejiao, Shenlong Rongfa and Jinlong Pharmaceutical, the Chinese medicine sector can be said to be in full bloom, and 90% of enterprises have achieved year-on-year growth in performance, leading the entire pharmaceutical biology sector with excellent performance.
Looking at the list of 10 before the increase of net profit in the interim results of the Chinese medicine sector, the first thing that catches your eye is Taian Tang, whose net profit exceeds 500 million yuan and has increased nearly 20 times year-on-year. However, the reason why Taiantang's performance has changed so dramatically is extremely simple and clear: the transfer of 47.35% equity of its subsidiary Kang Aiduo. For this transaction, Taiantang said that in order to obtain cash quickly and ease the working capital pressure of listed companies, it is estimated that the cash payment consideration will be 748 million yuan through the sale of medical e-commerce business. With the approach of online sales of prescription drugs, it seems inappropriate for Taian Tang to divest the pharmaceutical e-commerce sector. It remains to be seen whether the withdrawal of funds can alleviate its liquidity pressure, and the Chinese patent medicine manufacturing business will face new performance challenges.
Zheng Qi Tibetan Medicine, whose upper limit of net profit growth exceeds 654.38 billion yuan, also stands out in this list. Similar to Harbin Sanlian, Sailong Pharmaceutical and other pharmaceutical companies in the chemical sector, the net profit contribution of Zheng Qi Tibetan medicine also comes from foreign investment income. In June this year, Zheng Qi Tibetan Medicine officially landed on the Growth Enterprise Market by participating in the establishment of a healthy brand commercialization platform indirectly held by M&A Fund. According to the accounting, the investment will increase the net profit of Zheng Qi Tibetan Medicine in the first half of 20021year by more than 700 million yuan. However, the high return on investment is always accompanied by high risks. Yunnan Baiyao, the leader of traditional Chinese medicine, suffered a 40% decline in net profit in the first quarter of this year due to stock trading, which is a lesson from the past. Zheng Qi Tibetan Medicine also warned in the performance forecast that this investment will lead to certain fluctuations in performance.
Comparing the reasons for the performance changes of Tibetan medicine in Tai 'antang and Zheng Qi, Chinese medicine enterprises that focus on the main business and deepen the industry are obviously more pragmatic. Taiji Group, which ranked second in net profit growth, said that its performance was mainly affected by its main business, because it focused on the development of its main business, implemented its main product strategy, increased the sales of major varieties, promoted the sales growth of other products, and both sales revenue and gross profit increased; Zuo Li Pharmaceutical adheres to the marketing strategy of "Steady Self-management and Strong Investment Promotion". With the strengthening of market investment and the development and coverage of terminal medical institutions, the sales revenue of core products Wuling series and Bering tablets shows a steady growth trend. Dong 'e Ejiao, which is expected to turn losses, enriches the product matrix through firm digital transformation and realizes benign market growth with new growth logic.
biological product
The overall performance is mixed.
Abundant pipelines and access to medical insurance are also worrying.
When the low fruit on the scientific tree of small molecular drugs has been picked, the field of macromolecular biopharmaceuticals has become a new track for pharmaceutical companies in recent years. Among the 18 biomedical companies that have published interim results forecasts, the number of pharmaceutical companies with pre-increased and pre-decreased performance accounts for almost half of the country. Plus Kangxinuo, Weiming Pharmaceutical and Shuangcheng Pharmaceutical, three pharmaceutical companies that are expected to turn losses, just make up the list of 10 net profit growth.
Specifically, Pailin Bio ranks first with the upper limit of 200% net profit growth, and the main reason for the substantial increase in performance is the continuous promotion of business changes, both endogenous and exogenous. While constantly optimizing the product sales structure and actively adjusting the product sales strategy, the extension expansion effect of Pailin Bio has also begun to appear: the strategic cooperation with An Deyu Bio in Xinjiang has greatly increased its financial income year-on-year; Harbin Paisi Pheko Biopharmaceutical Co., Ltd. completed its strategic reorganization and became a wholly-owned subsidiary, which further promoted the overall performance growth of Paisi Bio.
Anke biotechnology Science and Technology, which has continuously strengthened its marketing work and improved its sales channels, has also achieved a substantial year-on-year increase in its main product recombinant human growth hormone, thus driving the growth of consolidated net profit indicators. In the industry's view, with the recent approval of new indications for injecting human growth hormone, it will still be the main profit point of Anke Bio in the future. However, the news that Guangdong-led ultra-concentrated mining alliance intends to incorporate recombinant human growth hormone once lowered the share prices of Changchun Gaoxin, anke biotechnology and other related enterprises. Whether this unresolved challenge will bring greater performance impact to anke biotechnology remains to be seen.
Based on the inherent characteristics of high technical risk, long research and development cycle and large capital investment in biomedical research and development, it has a rich pipeline of biomedical products, but only Baiaotai listed in adalimumab still gives the judgment of pre-loss performance. Guo Jian, a junior who gave the same performance forecast, thinks that with the increase in the number of competing products included in the medical insurance scope, the price of competing products will be lowered, and the market competition faced by its key product, Yisaipu, will intensify, and there will be risks such as uncertainty in the performance of Cecetin after entering the medical insurance catalogue.
Medical instruments
Foreign trade orders have exploded.
Consumables procurement shows the power of quantity.
At present, the field of medical devices is the main force to disclose interim results forecast, with the number of enterprises reaching 39, and it is also a subdivision enterprise with the highest net profit and net profit growth respectively. On the whole, including Lidman and Toujing Life Insurance, which are expected to turn losses, the performance of 28 companies including * * * Hot Scenery Bio, Haohaishengke and Jiuqiang Bio has achieved positive growth, accounting for more than 70%; There are also Sino Medical, Jiu 'an Medical and Baolaite 10 enterprises. , predict its performance will drop significantly or predict or reduce its losses.
Among them, hot scenic creatures stand out with the highest expected profit increase of 865,438+0,808.47%. Affected by the sustained development of COVID-19 epidemic in Europe and the world in the first half of the year, the foreign trade orders of two novel coronavirus antigen rapid detection reagent products of Thermoclean Bio showed explosive growth, which promoted its business performance to show substantial growth in the first half of the year, and finally produced a gratifying performance with a net profit increase of over 80,000%. Coincidentally, Dongfang Bio, whose net profit growth ceiling is over 500% and the growth ceiling is as high as 3.53 billion yuan, also continues to invest in the global COVID-19 epidemic prevention and control with its novel coronavirus antigen rapid detection test paper (colloidal gold).
In addition to the factors that help overseas to fight the epidemic and achieve explosive growth in performance, the recovery of domestic market demand and the active adjustment of business strategies by enterprises are also the main reasons. Haohaishengke, Ao Jing Medical, Lidman, Huitai Medical, etc. They all expand their brand awareness and influence through continuous marketing and marketing activities to achieve greater growth in product sales; In terms of innovation, Dean Diagnostics adheres to the unique competitive advantage of integrated medical diagnosis solutions, and vigorously promotes the special inspection business based on precision centers and the general inspection business based on cooperation. Wanfu Bio, on the other hand, complied with the industry trend driven by diseases and application scenarios, and carried out organizational reform of the domestic marketing division, and promoted the coordinated development of all business lines through personnel integration and channel reuse.
With the price and quantity of protective equipment returning to normal at this stage, compared with the larger sales revenue and profit base brought about by the surge in demand for epidemic prevention materials in the same period last year, enterprises such as Jiu 'an Medical, Ogilvy Medical and Yangpu Medical all predicted a sharp decline in performance. In addition, the policy of purchasing with quantity in the field of medicine is subverting the competitive pattern in the field of high-value consumables. Because domestic coronary stents were not used, the sales volume of Sino medical products decreased by 8.56 1% compared with the same period of last year, and the income decreased by 65.438+0.24 billion yuan, down by 9.005438+0% year-on-year. When explaining the main reason for the decline in net profit, Sino Medical said that due to the sharp decline in sales of coronary stent products, the scale effect of its products declined, and the production cost of products failed to decrease in the same proportion.
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