25 pharmaceutical enterprises "break through" scientific and technological innovation board micro core biology "take the lead in R & D proportion"

Scientific and technological innovation board has been advancing rapidly since it was launched Both the introduction of pilot registration system opinions and relevant management measures of scientific and technological innovation board reflect the new speed of China An investor told reporters that the theme fund of the first phase of six science and technology innovation boards sold 20 billion yuan in two hours, and the fund was snapped up according to its share, with a subscription rate of about 3.8% (i.e applying for 10000 yuan, may only buy more than 380 shares) It is not difficult to see the enthusiasm of the whole people for the scientific and technological innovation board As of May 12, the Shanghai Stock Exchange has accepted a total of 108 listed enterprises applying for science and technology innovation board, among which the pharmaceutical (therapy) industry involves three categories: pharmaceutical manufacturing industry, research and experimental development (mainly cro enterprises), and special equipment manufacturing industry (mainly medical devices and equipment) A total of 25 enterprises have been accepted by the Shanghai Stock Exchange The following is an analysis of the overall situation of the accepting enterprises Financing amount: the total amount to be raised by the 108 enterprises to be accepted by the stock exchange is 104.27 billion yuan, of which China Railway Communication Signal Co., Ltd (hereinafter referred to as "China comm.") is the enterprise with the highest amount to be raised, and it is planned to raise 10.5 billion yuan 25 Pharmaceutical (therapy) related enterprises raised 19.505 billion yuan, accounting for 18.7% The highest company to be raised is Huaxi biology, with a total of 3.154 billion yuan (see: it plans to raise 3.154 billion yuan through IPO on science and technology innovation board! What is the origin of Huaxi biology , followed by pre family organisms (1.747 billion yuan) and haohaisheng family (1.484 billion yuan) Acceptance of the company's planned fundraising (unit: 100 million yuan) listing standard: 90% of the application for science and technology innovation board according to standard 1 is divided into 5 sets of listing standards The market value threshold of standard I is 1 billion yuan, and the core focus is profitability; the market value threshold of standard II is 1.5 billion yuan, and the core focus is R & D investment; the market value threshold of standard III is 2 billion yuan, and the core focus is operating cash flow; the market value threshold of standard IV is 3 billion yuan, and the required operating revenue is more than 300 million yuan, and the core focus is market share; the market value of standard V is It is expected to reach 4 billion yuan, with the core focus on market prospects and core technical capabilities In previous analysts' expectation, biomedical companies may mainly choose standard II and standard V as listing standards However, from the perspective of 25 Pharmaceutical (therapy) related enterprises, only Sano medical applied for listing in accordance with standard 2, turbo bio applied for listing in accordance with standard 4, and the other 23 enterprises chose standard 1 for listing It is worth noting that Anhan technology and preclinical biology meet other standards at the same time but still choose to apply according to standard one Taking Anhan technology as an example, in the application draft, the company explained in detail that it met four market value standards, the company's R & D investment accounted for a large proportion, and the valuation and operating cash flow level met the relevant standards Financial capacity: 25 Pharmaceutical (therapy) related enterprises with an average revenue of 450 million yuan received a total operating revenue of 11.3 billion yuan and an average revenue of 450 million yuan in 2018; a total net profit of 2.972 billion yuan and an average net profit of 119 million yuan Among them, haohaishengke has the highest operating income, with a revenue of 1.558 billion yuan and a net profit of 455 million yuan; Bairen medical (110 million yuan) has the lowest operating income, and Tebao Biology (16 million yuan) has the lowest net profit In terms of the equity structure, sun Jianhua, the actual controller of Sinochem, registered Sinochem holdings in the British Virgin Islands in June 2005 to build a red chip structure, but at that time, the science and technology innovation board was not available After that, in order to enter the A-share market, Sinopharm dismantled the original red chip structure in June 2018 R & D Investment: 12 enterprises account for more than 10% of all enterprises accepting R & D investment The highest amount of R & D investment is China Unicom, with a total investment of 1.38 billion yuan in 2018 Among the 25 Pharmaceutical (therapy) related enterprises, Sano medical has the highest R & D investment, with a total investment of 130 million yuan in 2018; and Salem biological has the lowest amount (12.6568 million yuan) In terms of the amount of R & D investment alone, it may not fully reflect the attention of enterprises to R & D, and the proportion of R & D investment and operating revenue is also an important reference index In terms of the proportion of R & D investment and operating revenue, the average proportion of 25 enterprises receiving acceptance is 14.04%, of which 12 enterprises account for more than 10% 55.85% of them were micro core organisms, and 4.19% of them were Huaxi organisms According to the information disclosed on the evening of May 12 by the research and development input (unit: 10000 yuan) of the accepting enterprise in 2018 on the kechuangban of the exchange, the audit status of one accepting enterprise (No.9 intelligent) has changed to suspended audit We will continue to pay attention to whether these 25 enterprises related to medicine (therapy) can successfully "pass the border".