2020 CRO average net profit industry first performance decline only three of the highest ...

the |recently the major listed pharmaceutical companies' 2020 annual results forecast has been released.
With the continued improvement of the pharmaceutical sector, in the plate differentiation, head concentration trend tide, CRO enterprises as an indispensable member of the innovative drug market, 2020 is still all the way to good, and then meet the industry explosion.
2020, the global CRO market will be $57.5 billion, including $47.1 billion for clinical CRO and $10.4 billion for preclinical CRO, according to Frost Sullivan.
forecast a compound growth rate of 9.79% over the next three years.
2020 domestic CRO market size of 8.3 billion U.S. dollars, of which the clinical CRO market size of 6 billion U.S. dollars, preclinical CRO market size of 2.3 billion U.S. dollars, the next three years is expected to grow at a compound rate of 27.49 percent, far higher than the growth rate of the global market.
At present, there are more than ten domestic listed CRO companies with A-shares, with a market value of nearly 800 billion yuan, CRO has become one of the most closely watched sectors in the secondary market, and its 2020 earnings forecast is also an important data source for many investors to assess the future growth trend of the "CRO sector".
so far, the 2020 results of 12 companies, including Mingkangde, Zhao Yanxin, Kanglonghuacheng, Medici and Boten, have been forecasted.
I. Cro industry in the overall pharmaceutical industry position with China's accession to ICH in 2017, effectively improve the number of multinational pharmaceutical companies in China to carry out clinical trials, the number of domestic innovative drugs rose sharply at the same time, CRO pharmaceutical industry profits are also rising, according to the distribution of the same huashun industry, statistics 2020 revenue and year-on-year growth average, although the overall growth level of the CRO industry is not good, but the overall industry net profit is undoubtedly a point.
At present, 222 of the first batch of listed pharmaceutical companies have announced their year-end results, taking the median announced value, the total net profit reached 62.417 billion yuan, the average net profit of 281 million yuan, an average increase of 60.75 percent.
and CRO enterprises with a net profit well above the industry average of 539 million yuan, in the first of all sub-sectors, followed by the 2020 epidemic-fueled equipment industry and pharmaceutical business industry, while the chemical industry has become the lowest average net profit of 2020 sub-industry.
the same time, on the other hand, in terms of year-on-year growth in 2020, the cro industry as a whole is at an industry low, with -30.64 percent in the second-to-last figure, second only to the chemical industry.
, 2020 CRO industry's most outstanding performance of enterprises specific statistics, analysis of cro industry's major enterprises in 2020 forecast net profit and year-on-year growth, 7 of the 15 enterprises net profit rose sharply, 2 enterprises in 2020 net profit to achieve a loss, 3 enterprises net profit decreased year-on-year.
1, year-on-year increase is the largest - Boji Pharmaceuticals listed in 2015 Boji Pharmaceuticals, engaged in CRO services business for many years, clinical research services have been the company's main source of revenue and profits, Q1-Q3 clinical research services in 2020 accounted for 47% of the company's main business revenue, business covers preclinical independent research and development business, preclinical services business, technical results transformation services and CDMO business.
forecast for 2020, its results rose sharply last year, with net profit expected to be 18 million, up 142.70%-215.50% YoY, and net profit after non-recurring profit and loss of RMB985.70 million-RMB14.657 million, up 436.47% to 697.71% YoY.
the largest increase in the number of CRO companies announced so far.
the main reason for its performance growth is that the main business revenue in 2020 increased rapidly from last year, during which the company increased its business expansion efforts in 2020, the amount of new contracts about 550 million yuan, an increase of about 15% over the same period last year.
Overall, Boji Pharmaceuticals is currently in ample orders, conservative estimate of at least 1 billion yuan, the third quarter report shows more than 60 services of innovative drugs and medical devices, of which, in the NMPA, FDA innovative drug IND stage has more than 40, in the clinical stage of more than 20, is bound to increase.
, with the completion of a portion of CDMO production capacity at a later stage, once smooth operation, to achieve profitability, will also increase the company's overall revenue level.
2, the largest year-on-year decline - ST Hundred Flowers announced that ST Blossom 2020 expected net profit of -236 million yuan to -354 million yuan.
-967.65 percent year-on-year, making it the largest decliner in the CRO industry.
its shares will be warned of the risk of de-marketing after the 2020 annual report is disclosed.
Xinjiang Baihua's predecessor is Baihua Village Hotel, in 1996, Xinjiang Baihua Village Co., Ltd. by Baihua Village Hotel after the overall restructuring and a number of companies co-sponsored the establishment, mainly involved in the service business, after listing has changed its name 12 times, mainly in ST, SST and ST between the changes, the enterprise has been two consecutive years of losses, only one step away from de-listing.
and its pharmaceutical research and development outsourcing business was launched in September 2016 by issuing shares to buy a 100% stake in Nanjing Warwick Pharmaceuticals, completing the transformation from service industry, coal to medicine.
Throughout the CRO market, Warwick Pharmaceuticals is only one of many small companies with unsoic core competencies, and also faces a variety of operational problems, with revenues of 231 million yuan in 2019, down 32.46 percent year-on-year and total revenue of 262 million yuan, down 37.49 percent year-on-year.
2020, a large number of customers have terminated contracts due to the lag in the progress of research and development projects, with the overall order decline significantly leading to a decline in the company's operating income, operating costs are also significantly increased.
sales of the top five customers accounted for a clear downward trend year by year, all fully demonstrated that the strength of Warwick Pharmaceuticals has been unable to meet the recognition of large customers.
invest heavily that its transformation in 2016 is nothing more than a shell listing in Nanjing Warwick to "ring money", the current situation seems to be inevitable on its way out of the market.
3, the highest net profit - Drug Mingkangde with CRO leading enterprises Pharmaceutical Mingkangde's annual report announcement, 2020 net profit of the highest CRO enterprises were also officially born, the full-year net profit of 2.782 billion yuan - 2.967 billion yuan, up 50%-60% YoY, and is expected to achieve net profit of 2.297 billion yuan to 2.393 billion yuan, up 20%-25% YoY.
and its performance increased significantly, mainly due to the fact that the China laboratory and CDMO businesses have fully resumed normal operations since 20Q2.
the second half of this year, overseas customer orders grew faster and the company's capacity utilization rate and operating efficiency continued to improve, 20H2 revenue achieved strong growth (up more than 30%); Non-re current profit and loss impact, the market value of the underlying and un-listed shares invested in listed companies increased (affecting 1,794 million yuan) and non-cash book fair value losses (affecting 1,349 million yuan).
Among them, china's laboratory services, chemical services, TOX and other test services business to achieve rapid growth, DDSU projects steadily advanced;
only this time, pharmaceutical Mingkangde as a comprehensive leading company, its excellent emergency management and management capabilities can be said to play the most vivid.
overall fundamentals continue to improve, the platform advantages are obvious, the future growth of the certainty is strong.
the results of its future business extension are also the focus of attention.
, what are the newly listed CRO enterprises? How's it doing? Compared with the number of CRO enterprises before, there have been many newly listed CRO enterprises in the past two years, this part of the enterprise represents the fresh blood of the industry, but also many cro enterprises in the pre-market model 1, 2019 representative - Medici based on Medesi 2020 earnings forecast, take the middle value calculation Full-year net profit is expected to reach RMB128 million, up 93% YoY, while revenue and non-profit margin are up 50% and 107.5% YoY, respectively, and Q4 single-quarter operating income and non-net profit are up 77% yoY and 235.8% YoY, respectively.
2020, the overall financial record of nearly five years, the year's data are at the fore end of the industry, far higher than the CRO industry average, in 2020 the number of new signings close to 1.3 billion yuan, an increase of about 110% year-on-year, continue to show super-high growth.
as the first CRO enterprise of the science and technology board, in 2020 ushered in the new production capacity of the fund-raising project put into operation, the new signing order showed high-speed growth and the number of personnel showed high-speed growth, giving full play to its pre-clinical integration, one-stop service CRO characteristics.
Relative to leading enterprises such as Pharmaceutical Mingkangde, Medici, with its smaller scale, focuses on the domestic field of preclinical medicine research, even with a more cost-effective price and more convenient and flexible services at the same time, the level of business is no less than international standards.
Of course, in order to occupy more market share in the future, into the industry's first echelon, still need to look to the head manufacturers, small pharmaceutical customers will no longer be able to meet their needs, expanding large customer resources will be inevitable.
2, 2020 representative - Chengdu pilot according to its 2020 annual results forecast content shows that revenue will be reduced from the previous year 19.6 million yuan to 23.5 million yuan, a decrease of 7% to 9% year-on-year, 2020 net profit of only 63 million (median), year-on-year growth rate of -48%, is the only company so far a sharp decline in net profit.
Data as of November 30, 2020 as the reason for the decline in performance, is the global epidemic volatility continued, overseas business development activities were limited, resulting in some order signing process slowed down, DEL library construction and screening technology platform upgrade corresponding to the increase in research and development costs, exchange rate changes resulting in increased financial costs, and in 2020 the company's main business income items, reduced the large amount of income related to large custom library compound structure information and screening method use fee revenue.
, a newly listed CRO company in 2020, represents the injection of fresh blood in the industry and the expectations of the capital markets for the CRO industry.
At the same time, Chengdu pilot also realized the transfer of independent research and development of new drug projects for the first time this year, the independent research and development of products code-named HG030 all possible therapeutic areas and adaptive disorders in Chinese mainland all rights transferred to Baiyunshan Pharmaceutical Factory, retaining all the rights and interests of all regions except HG030 products Chinese mainland.
may also represent its future or will rely on "external transfers" to generate revenue.
present, Chengdu pilot independent research and development of new drug projects a total of about 20, has obtained IND projects including HG146 and HG030, is expected to reduce drug side effects, most of the other at different stages of preclinical.
overall research and development pipeline can be described as excellent, although the new drug project office is in the early clinical stage, but the product positioning is clear, the difference is significant, more than 2021 projects are expected to declare IND, project value increase to promote performance elasticity.
the CRO industry is bullish on Thursday, 2021? As the capital market focuses on the industry, CRO is not only the industry's high business climate and strong performance certainty, and with the increasing construction of technology platforms and talent pools, the ability of enterprises to undertake and complete projects has been strengthened, but also promoted the pharmaceutical industry's capacity utilization rate and operational efficiency, indirectly promoting the overall industry's accelerated progress.
At the same time, in the long term, under the dual support of industrial basic capacity and perfect policies, more local enterprises enter the global competitive landscape, the gap brought about by the development status quo also means greater development space and opportunities, the future is expected.