Sino-Singapore Jingwei, April 29 (Wu Xiaowei) The first-quarter revenue of a listed company is 708 yuan. This company's revenue is 0. What is the origin?
The quarterly revenue of a company listed on the Science and Technology Innovation Board is only 707.96 yuan. You are not mistaken, and the word "ten thousand" has not been missed.
The first quarterly report of Shouyao Holding showed that Shouyao Holding’s revenue was 707.96 yuan, down 99.98% year-on-year, with a loss of 50.6623 million yuan.
Some netizens ridiculed, "The company's employees drink more than this amount of mineral water bottles to sell." "Can I open a company that picks up mineral water bottles with a monthly income of 800 yuan? Can I go public?"
Zhang Yingli, the company’s secretary of the board of directors, said that the revenue of 708 yuan is the real data, but it should not be the main business income; the company has not yet approved the drugs for sale on the market, and the main business income obtained before is mainly with Chia Tai Tianqing, etc. Co-development income generated by the company's cooperative research and development.
Only when the cooperative R&D project achieves staged progress, the other party will pay the milestone payment accordingly. In the first quarter of this year, the company has not yet had such a milestone event, so there is no income for the time being.
According to the pictures posted on the Internet, Shouyao Holdings mentioned that the 708 yuan was "mainly due to the sale of a second-hand incubator". In response, the board secretary of Shouyao Holdings replied "V View Financial Report" (WeChat ID: VG-View ) said that it
is currently verifying with the Ministry of Finance, and the official news shall prevail.
It is worth mentioning that Shouyao Holdings mentioned in its first quarterly report that the
company's drug co-development revenue during the reporting period has not yet reached the settlement period, and no drug co-development revenue has been confirmed in this period
, a decrease of 4 million compared with the same period of the previous year.
Let's take a look at the company Shouyao Holding.
First Pharmaceutical Holdings was listed on the Shanghai Stock Exchange in March 2022, with an issue price of 39.9 yuan per share and a total of 1.483 billion yuan of funds raised.
However, the company's stock price broke at the opening of the first day of listing, rebounded to 35.98 yuan per share during the session, and finally closed at 32.11 yuan per share.
Since then, the company's share price has continued to decline.
As of the close on April 28, the company's share price closed at 17.97 yuan per share, and the total stock market value was 2.672 billion yuan.
It is worth noting that Shouyao Holdings was not listed on the basis of performance conditions.
"The
company is an innovative drug research and development enterprise that applies the fifth set of listing standards." The
company once said.
The fifth set of listing standards on the Science and Technology Innovation Board is: "The estimated market value is not less than 4 billion yuan, the main business or products need to be approved by the relevant state departments, the market space is large, the phased results have been achieved, and a certain amount of investment from well-known investment institutions has been obtained. Investment. Enterprises in the pharmaceutical industry need to obtain at least one phase II clinical trial approval for a new drug, and other companies that meet the positioning of the Science and Technology Innovation Board need to have obvious technical advantages and meet the corresponding conditions.”
According to the company's 2021 annual report, Shouyao Holding is mainly engaged in the research and development of small molecule innovative drugs, with a long research and development cycle and large capital investment for new drug projects.
At present, all the products of the company are in the stage of clinical trials and preclinical research, and there are no products on the market yet, and no product sales revenue has yet been generated.
At the same time, the research and development income generated by the company's early cooperative research and development is small in scale and cannot cover the company's research and development and operating investment during the reporting period, resulting in the company's unprofitable and unrecovered losses.
The company's core products SY-707 and SY-3505 are ALK inhibitors and will face competition in the ALK inhibitor drug market.
As of the end of December 2021, a total of 4 ALK inhibitor drugs have been approved for marketing in the Chinese market, of which 3 are imported drugs and 1 is a domestic drug; all 4 drugs have entered the medical insurance catalog, and there is a possibility of further price cuts in the future; In addition to the listed products, the imported ALK inhibitors brigatinib and lorlatinib have applied for New Drug Listing (NDA), which may further intensify market competition in the future.
In the 2021 annual report, Shouyao Holding also stated that the
company has no products on the market, and no drug sales revenue has been generated, and there are still uncertainties about whether and when the products are expected to be launched, and the company will not be able to produce products for a certain period of time in the future. sales revenue
.
In order to ensure the successful development and timely launch of the product, the company needs to make continuous investment in research and development, and it may still be in a state of unprofitability for a certain period of time in the future.
In 2021, during the reporting period, the company's operating income increased by 6,013,400 yuan or 85.67% over the same period last year, mainly due to the cooperation between the company and Chia Tai. It obtained the clinical approval and entered the clinical phase II to meet the performance obligations and realized the relevant income.
However, the net profit for the same period was a loss of 145 million yuan.
As of December 31, 2021, the company's accumulated unrecovered losses were 446 million yuan.
Moreover, First Pharmaceutical Holdings also mentioned that the company may continue to lose money for a period of time in the future, and the accumulated amount of unrecovered losses will continue to increase.
In fact, there was another listed company with zero revenue in the first quarter.
Dizhe Pharmaceutical's first quarterly report shows that the company's operating income in the first quarter of this year was 0 yuan.
In addition, Asieris Pharma's annual revenue in 2021 is only 4,574.88 yuan.
The company stated that the company's core products are all in the research state, and the operating income in 2021 is only the income declared and realized by Hikewei® (APL-1706) in the Hainan Boao Lecheng International Medical Tourism Pilot Zone as a clinically urgently needed imported drug.
What these three companies have in common is that they are all on the Science and Technology Innovation Board, and they are all pharmaceutical R&D companies.
The listing is basically in accordance with the fifth standard of the Science and Technology Innovation Board, so there is no requirement for operating income.
"The small molecule drug industry is a high-input and high-profit industry. It is understandable that there is no income in the early stage. Once a popular drug appears, the profit will be considerable." Some industry sources said that it is not surprising that Shouyao Holdings has low income in the first quarter.
(Sino-Singapore Jingwei APP)
(The opinions in this article are for reference only and do not constitute investment advice. Investment is risky, and you need to be cautious when entering the market.)
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