The management dilemma of vaccine enterprises, that is, the core products can not be commercialized, the fundamentals can not support the high P/E ratio, and the stock price has broken sharply. So today, Bian Xiao is here to sort out the relevant knowledge of pharmaceutical companies. Let's have a look!
Vaccine nova turns into deficit again
The semi-annual report shows that from June to June this year, Kangxinuo achieved an operating income of 630 million yuan, down 69.45% year-on-year; The net profit of returning to the mother was 6.5438+0.2238 million yuan, down 98.69% year-on-year; After deducting non-profit, the net profit returned to the mother was-56.769 million yuan, which turned from profit to loss. In the first quarter of this year, Kangxinuo realized a net profit of RMB 822,654,380+0.4 million after deduction.
Regarding the decline in performance, Kangxinuo explained in the interim report that due to the slow global vaccination rate in COVID-19, reduced vaccine demand and product price adjustment, vaccine-related inventories with signs of impairment in COVID-19 were depreciated.
202 1, Kangxinuo turned losses into profits by relying on COVID-19 vaccine business. In that year, the revenue was 4.3 billion yuan, and the net profit attributable to the mother was19140,000 yuan. In the first quarter of this year, it continued to make profits1210,000 yuan. Prior to this, Conceino had been in the mode of "burning money". From 20 18 to 2020, the company's net profit returned to its mother was 654.38+38 million yuan, 654.38+57 million yuan and 397 million yuan respectively.
In the past year, COVID-19's vaccine business has more or less become a "fig leaf" for Conceino. As of June 30th, the undistributed profit of Kangxinuo was still 846 million yuan, all of which was contributed by the sales of vaccine products in COVID-19.
Regarding whether COVID-19 vaccine products can bring stable contribution to the company's performance, Kangxinuo bluntly said in the semi-annual report: At present, it is impossible to accurately predict the global development trend of COVID-19 epidemic and the final effect of countries in fighting COVID-19 pneumonia, and there is a risk that the products cannot be commercialized due to unpredictable changes in COVID-19 epidemic. "If the inventory (COVID-19 vaccine) is difficult to realize due to changes in the market environment and intensified competition, it still faces certain inventory impairment pressure and price risk." Kang Xinuo said so.
The management dilemma of innovative pharmaceutical enterprises and vaccine enterprises
The fifth set of listing standards of science and technology innovation board allows unprofitable biomedical enterprises to go public. At the beginning of listing, innovative biomedical enterprises once enjoyed a halo and a valuation premium. For example, Kangxinuo, the company's highest share price is 793.87 yuan, and its total market value is close to 200 billion. Now there is only 32.3 billion, and the market value has evaporated by nearly 654.38+07 billion in two months a year.
The semi-annual report of bio-pharmaceutical enterprises of Science and Technology Innovation Board shows that among the 8 1 enterprises that have disclosed the semi-annual report, 8 of them earned less than 654.38 billion yuan in the first half of the year, and Yahong Pharmaceutical earned less than 654.38 million yuan. There are 2 1 company with a half-year revenue of less than 200 million yuan. The above 29 enterprises are mainly engaged in vaccines, chemical preparations, medical consumables and other businesses.
Looking at the profitability of the main business, among 8 1 enterprises, 20 enterprises recorded losses after deducting non-net profits, and among 65 enterprises that achieved profitability, 38 enterprises deducted non-net profits less than 6,543.8+billion yuan.
At present, Dizhe Medicine (688 192. SH) The net profit loss is the highest. In the first half of the year, the company's revenue in 0 yuan was 345 million yuan, with a year-on-year increase of 155438+0%. Dezhe Medicine is mainly engaged in innovative drugs in the fields of malignant tumors and autoimmune diseases. At present, the company's core products are still in the clinical development stage.
What are the leading stocks of medical concept?
Zuo Li Pharmacy 300 18 1
The main business of Zhejiang Zuoli Pharmaceutical Co., Ltd. is the research and development, production and sales of medicinal fungi Wuling and Bering series products, Chinese herbal pieces and Chinese herbal formula granules. The company's main products include Wuling series and Bailing tablets, Chinese herbal pieces and Chinese herbal formula granules.
Zhongyao holding 000950
Heavy Industry Pharmaceutical Holding Co., Ltd. is mainly engaged in pharmaceutical circulation business. Based on the coordinated development of pharmaceutical commerce and pharmaceutical research and development, the company is a leading medical and health industry group in the west. The company's main products are medicines and medical devices.
Zhongsheng pharmacy 0023 17
Guangdong Zhongsheng Pharmaceutical Co., Ltd. is mainly engaged in drug research and development, production and sales.
The company's main products are compound Xueshuantong series products, Zhongsheng pills series products, cefixime dispersible tablets, cefradine capsules and sucralfate oral suspension.
Zhongyuan Sheikh 600645
Zhongyuan Sheikh Cell Genetic Engineering Co., Ltd. is a biotechnology company, mainly engaged in life science and technology development, stem cell genetic engineering industrialization, biomedicine and gene pharmacy, textile, printing and dyeing, clothing and other businesses. Its main products include cell detection preparation and storage, scientific research reagents, gene detection and detection reagents.