Over 80% of pharmaceutical companies increased their income and achieved outstanding performance in the anti-epidemic sector last year

　　Securities Times reporter Chen Lixiang

　　In 2021, when a series of medical insurance cost control policy reforms have entered deep water areas and epidemics have occurred in many places, listed pharmaceutical and biological companies have achieved gratifying results: more than 80% of the companies recorded a year-on-year increase in operating income last year, and more than 60% of the companies achieved a year-on-year increase in net profit.

　　From the perspective of sub-sectors, anti-epidemic-related companies such as new crown testing and new crown vaccines have outstanding performance. On the basis of doubling or even several times the net profit of last year, many companies continued to achieve doubled high growth in the first quarter of this year.

Last year, due to the high valuation and the "entity list" turmoil, the CXO (pharmaceutical outsourcing) sector, whose stock price fluctuated greatly, saw its overall performance increase rapidly. Many companies expanded their recruitment of more than 1,000 employees in the fourth quarter.

　　Zheshang Securities Research Report pointed out that in the long run, CXO, scientific services, vaccines and innovative drugs may usher in sustained high growth.

In the short term, the new crown epidemic supply chain, such as nucleic acid testing, antigen testing, new crown vaccine and other sectors, is still extremely flexible under the dynamic clearing of my country's epidemic prevention policy and the continuous interpretation of overseas epidemics.

　　According to Wind statistics, as of press time, a total of 386 listed companies in the Shenwan pharmaceutical and biological industry have released their 2021 annual reports, generating an overall revenue of over 2 trillion yuan.

The median operating income and net profit were 1.5 billion yuan and 189 million yuan respectively.

　　Among them, in 2021, there are 244 companies with operating income exceeding 1 billion yuan, and 255 companies with net profit exceeding 100 million yuan, accounting for 63% and 66% respectively; only 39 loss-making companies, compared with 2020 Annual decrease of 21; 20 companies turned losses into profits.

　　Shanghai Pharmaceuticals and Jiuzhoutong are temporarily the champion and runner-up in operating income, with 215.8 billion yuan and 122.4 billion yuan respectively; the first and runner-up in net profit are Zhifei Biology and Mindray Medical, with 10.2 billion yuan and 8 billion yuan respectively.

In terms of performance growth, the operating income of 4 companies, Alys-U, Rongchang Bio, Shenzhou Cell-U, and CanSino, increased by more than 100 times year-on-year last year, and the net profit growth rate of Rejing Bio, Lisheng Pharmaceutical, and Ha Sanlian all exceeded ten times. times.

　　At the same time as the dazzling performance, 288 pharmaceutical companies plan to distribute cash dividends for their 2021 financial reports.

There are 16 pharmaceutical companies with a total dividend of more than 100 million yuan, and the net profit of these companies exceeds 150 million yuan.

　　In the first quarter of this year, the performance of pharmaceutical and biological enterprises was still outstanding, with 148 companies achieving double growth in operating income and net profit, accounting for 54% of the total number of companies that have released their first quarterly reports.

In addition to the anti-epidemic sector, traditional Chinese medicine, API, and chemical preparation companies generally achieved performance growth.

　　From the perspective of sub-sectors, companies in the medical device and chemical preparations track have outstanding performance, especially the new crown vaccine and new crown testing related to anti-epidemic.

The average operating income growth rate of 35 new crown testing-related companies last year reached 67%, and the average net profit growth rate was as high as 112%.

　　Pharmaceutical companies such as CanSino, Oriental Bio, and Daan Gene hit record highs in net profit last year.

Among them, CanSino will achieve a net profit of 1.914 billion yuan attributable to its parent in 2021, making it profitable for the first time. The securities abbreviation will be changed from "CanSino-U" to "CanSino", becoming the first pharmaceutical company to successfully "take U" on the Science and Technology Innovation Board.

　　In the first quarter of this year, companies in the new crown testing sector continued to maintain a high growth trend.

On the basis of the 193% year-on-year increase in net profit for the whole year of last year, Oriental Biology continued to increase by 74% in the first quarter of this year.

On the basis of last year's 91% increase in net profit, Boto Bio's net profit continued to surge by 111% in the first quarter of this year.

　　In addition, the net profit growth rate of Wantai Bio, Mingde Bio, Kaipu Bio, and Xilong Science last year and the first quarter of this year all exceeded 100%.

Jiu’an Medical, which has successively won a large order of new crown antigen detection reagents in the United States, expects that its net profit in the first quarter of this year will exceed 14 billion yuan, a year-on-year increase of more than 367 times.

　　Although at the end of last year and since the beginning of this year, the stock prices of leading CXO companies have repeatedly plummeted due to rumors such as high valuations and "entity lists", but in terms of performance, these companies have maintained steady growth.

Among the 23 companies that have released their 2021 annual reports, only one company, Tianyu, saw a decline in revenue, and only 4 companies saw a decline in net profit.

　　At a time when many pharmaceutical companies began to lay off employees under the normalization of centralized procurement, CXO companies on the whole expanded their recruitment on a large scale last year.

Among the 23 companies that have disclosed their annual reports, in the fourth quarter of last year, only one company, Haixiang Pharmaceutical, had a decrease in the number of employees, while the number of employees in other companies increased.

　　At the end of the third quarter of last year, WuXi AppTec had 28,542 employees, and by the end of the fourth quarter, it had increased to 34,912. The number of employees expanded by more than 6,000 within three months, and the expansion rate exceeded 20%.

In addition, the remaining three listed companies of the four leading CXO companies, Pharmaron, Asymchem, and Tigermed, all increased the number of employees by more than 1,000 in the fourth quarter of last year.

　　Last year, Pharmaron continued to increase the construction of laboratory facilities and further strengthen the global deployment of laboratory services. In the fourth quarter alone, it recruited more than 2,000 people, most of which were laboratory service personnel.

By the end of last year, the number of its employees has reached 14,923, 90% of which are R&D, production technology and clinical service personnel.

Among them, there are 3,357 employees engaged in clinical research services, an increase of 1,149 compared with the end of 2020.