The performance growth rate of the Sci-tech Innovation Board "first team" settled with 919 biomedical funds to join in
Our reporter's trainee reporter Guo Jichuan
Following the completion of the semi-annual report disclosure, the Shanghai Stock Exchange also announced the first half of the sci-tech innovation board industry transcripts. Among them, the pharmaceutical and biological industry achieved outstanding results. In the first half of the year, overall operating income and net profit increased by 34.61% and 2757.65% respectively.
Affected by the prevention and control of the epidemic and the increase in medical demand, the performance of the testing reagent company in the first half of the year increased significantly. Among them, Shengxiang Biological was awarded the title of "performance growth king" on the science and technology board in the first half of the year.
In the first half of 2020, Sci-tech Innovation Board companies adhere to the innovation-driven development strategy and maintain high-intensity R&D investment. The pharmaceutical and biological industry has also become a favored object of institutional investors with its outstanding performance and corporate growth value.
Technology boosts business growth
Fund participation almost doubled
According to data from Oriental Fortune Choice Financial Terminal, in the first half of the year, among the 21 biomedical companies on the Sci-tech Innovation Board, 13 companies’ net profit attributable to shareholders of the parent company achieved positive year-on-year growth, accounting for 61%.
Among them, the net profit growth rate of three companies exceeded 300%, namely Shengxiang Bio, Shuoshi Bio, and Oriental Bio, all of which are testing reagent companies.
The semi-annual report of Shengxiang Biology shows that in the first half of the year, the company's operating income increased by more than 11 times year-on-year, and the net profit attributable to the parent increased by nearly 147 times year-on-year.
In the prevention and control of the new crown pneumonia epidemic this year, Sunshine Biologics quickly developed a new coronavirus nucleic acid detection kit, and obtained the registration certificate of the State Food and Drug Administration, the European Union CE certification, the US FDA emergency use authorization, and the Brazilian ANVISA registration certificate. A series of authoritative certifications and related products have been supplied to 130 countries and regions around the world, which has led to significant growth in performance.
In the first half of this year, Shuoshi Bio's revenue increased by more than 3 times, and its parent net profit increased by 9 times.
After the outbreak of the new crown pneumonia, Shuoshi Biologics developed a new crown virus detection kit within 72 hours and became the main supplier of nucleic acid testing products for disease prevention and control in China. The products were listed for emergency use by the World Health Organization (WHO) List.
Shuoshi Biotech stated that the net profit for the first three quarters of 2020 has significantly exceeded the level of the first three quarters of 2019, and it is predicted that the cumulative net profit for the first three quarters of 2020 will increase significantly compared with the same period of the previous year.
Wang Ruiyan, a medical researcher at the China Fortune Research Institute, told the Securities Daily reporter that the domestic competition for new crown testing reagents has become fierce, and prices have fallen sharply due to centralized procurement. However, the exported new crown testing reagents can still maintain a relatively high profit. Under the list system, the marketing of new crown testing reagents is clearly differentiated. Only companies with strong technical strength and high-quality products will have a rapid increase in export volume and value.
In addition, some companies rely on endogenous R&D power to achieve stable performance growth. In the first half of this year, Microchip's revenue increased by 35% year-on-year, and net profit increased by 64% year-on-year. This was mainly due to the sales of the company's core product, Cedarbenamine. Increase in revenue and receive revenue from HUYA technology licensing.
In the first half of this year, the cumulative sales of Chidamide by Chipper Biosciences exceeded 600 million yuan, which was 140 million yuan last year.
The high growth of biomedical companies on the Sci-tech Innovation Board has also attracted the attention of many institutional investors. According to the financial terminal of Oriental Fortune Choice, as of September 1, a total of 919 funds hold the 21 biomedical companies on the Sci-tech Innovation Board. In the same period last year, this number was only 527.
A head of the investment research department of a securities firm told a reporter from the Securities Daily that the company’s investment strategy for the Sci-tech Innovation Board was mainly based on innovation, but given the good performance and stock price trends of the Sci-Tech Innovation Board, it is now under study. Long-term investment strategy.
Increase R&D investment
Take the path of innovation and growth
As a sector centered on technological innovation, the Sci-tech Innovation Board Biomedical Company has maintained a high level of R&D investment.
In the first half of the year, the largest proportion of R&D expenses to revenue was Shenzhou Cell, whose R&D expenses were 1,761 times of revenue.
Shenzhou Cell focuses on multiple treatment and prevention fields such as malignant tumors, autoimmune diseases, infectious diseases and genetic diseases. Since all products are in the research and development stage, Shenzhou Cell has not yet made a profit and has accumulated unrecovered losses, but the company has entered a large number of products Phase III clinical stage.
The company said that in the future, it will continue to invest large-scale research and development funds to promote the completion of preclinical research, clinical trials and preparations for new drugs before the market.
The star vaccine company Cansino, a newly launched star vaccine company this year, has not yet achieved sales of products. The company said that vaccine research and development projects are continuing to advance, and several innovative vaccines are in the clinical trial research stage. R&D expenditures continue to increase, and the scope of research and development covers prevention of Egypt. Bola virus disease, meningitis, new coronavirus (COVID-19), DPT, pneumonia, tuberculosis, herpes zoster, and many other vaccine varieties with high clinical demand.
Gong Tao, chairman of Shenzhen Zhongjin Huachuang Fund, told the "Securities Daily" reporter that with the normalization of the state's centralized procurement, the future development path of biomedical companies has become more clear. One is to take the large-scale production of generic drugs and open up upstream raw materials. Supply, reduce the production cost of pharmaceuticals for enterprises, and win by price in the fierce competition of generic drugs; the other is to take the path of innovative research and development, with the support of the state and capital, to innovate and develop new drug products that are required by the market through patents Protection and sales of new drugs drive business growth.
Microchip's R&D investment in the first half of 2020 reached 59,093,700 yuan, a year-on-year increase of 85%, accounting for 53% of operating income in the same period.
According to the announcement, Microchip Biosciences currently has 25 research projects, of which the candidate drug with the fastest clinical progress is sitaglipta sodium, which is used to treat patients with type 2 diabetes. In September 2019, it applied for new drug listing and was accepted; Cioroni, a drug candidate for the treatment of multiple tumors, is currently conducting phase II clinical trials for ovarian cancer, small cell lung cancer, liver cancer and non-Hodgkin's lymphoma. In the first half of 2020, the project's R&D investment reached 10.854,700 yuan .
“Obviously, many Sci-tech Innovation Board companies have chosen the second and more difficult route of innovation and R&D. This is also in line with the positioning of Sci-tech Innovation Board companies. In particular, some companies’ new drugs have entered the Phase III clinical stage, which means that the development of new drugs is underway. After the final test, once successfully listed, it will greatly promote the company’s performance growth. However, it should be noted that some companies’ R&D benefits have already been responded to in the secondary market in advance, and investors should not buy because of some good news. Highly valued company." Gong Tao said.
(Securities Daily)