Annual report of 217 A-share pharmaceutical companies: Fosun Pharma's R&D of 4 billion tops the list

It's another year of annual report season.

On the whole, in terms of total revenue, companies still dominated by circulation business dominate the TOP10.

In terms of net profits returned to their parents, only 19 companies were negative, 50 companies were less than 100 million yuan, 119 companies were between 100 and 1 billion yuan, 17 companies were between 1 and 2 billion yuan, and 12 companies Over 2 billion yuan, of which the highest net profit of Intech Medical was 7.

In terms of net profit growth, almost all of the TOP10 growth rates are medical device companies, with a maximum increase of 6527%, and five companies have increased by more than 1,000.

What are the highlights of these 217 companies’ annual reports? The epidemic has passed, where will the diagnostic companies that have risen by more than a thousand heads? What happened to the five companies with the highest net profit decline?

01 Fosun Pharma invested 4.

In terms of R&D, among the 217 companies that have published their annual reports, Fosun Pharma's R&D investment of 4.

Fosun Pharma’s impression of the industry in the past is still dominated by generic drugs, but in recent years, with the commercialization of Henlius' products and the advancement of Fosun Kate’s research and development, innovation and internationalization have gradually become the “keywords” of Fosun Pharma.

The new crown vaccine cooperating with BioNtech is almost the most impressive thing for Fosun Pharma in 2020.

The annual report shows that at present, Fosun Pharma’s innovative drug layout covers tumor and immune regulation, four highs (hypertension, hyperlipidemia, hyperglycemia, hyperuricemia) and complications, central nervous system and other key diseases.

Wu Yifang, Chairman and CEO of Fosun Pharma, once said in an interview with E medicine managers: “In the field of core diseases, as long as it is in line with Fosun Pharma’s overall strategy, it will be deployed.

Fosun Pharma’s R&D investment is a highlight, and from the perspective of net profit attributable to the parent company, the diagnostic industry will usher in an unprecedented bright moment in 2020.

02 What should diagnosis companies do after the epidemic?

Among the 217 companies’ net profit growth rankings, TOP10 is almost entirely occupied by diagnostic companies.

The annual report of Shengxiang Biology showed that the total revenue for the whole year was 4.

It is reported that during the epidemic period, Shengxiang Bio-products covered more than 160 countries and regions, and overseas income accounted for 53.

So, how will the performance of diagnostic companies grow after the new crown epidemic?

Emergencies must only be temporary, and high profits cannot be sustained.

03 Will the net profit increase -4983% be ST?

"On April 22, 1998, the Shanghai and Shenzhen Stock Exchanges announced that they would conduct special treatment on the stock transactions of listed companies with abnormal financial or other conditions, and precede the abbreviation with "ST".
Therefore, such stocks are called It’s ST shares.
"

According to the "Stock Listing Rules" issued by the Shanghai Stock Exchange, a delisting risk warning is implemented, that is, one of the clauses that the stock will be marked with "ST" is "The audited net profit of the most recent fiscal year is negative and the operating income is less than RMB 1 100 million yuan, or after retrospective restatement, the net profit in the most recent fiscal year was negative and the operating income was less than 100 million yuan.
”

So, is it possible for these five companies to be "ST" in the future under this rule?

Among the last five net profit growth, the decline exceeded 1000%.
Among them, Qianyuan Pharmaceutical-4983%, Harbin Pharmaceutical-2030%, Guoxin Health-1492%, Zixin Pharmaceutical -1030%, and ST Baihua-1029 %.

Nevertheless, in addition to ST Baihua, the revenue of the other four companies also exceeded the red line of 100 million yuan.
Whether there is ST risk in the future depends on its specific operating capabilities.

The five companies have different reasons for the sharp decrease in net profit, but the commonality is the impact of the new crown epidemic:

According to the annual report of Qianyuan Pharmaceutical, “the company’s operating income declined year-on-year during the reporting period, mainly due to the withdrawal of the company’s key products mezlocillin sodium and sulbactam sodium, amoxicillin sodium and sulbactam sodium from the 2019 edition of the National Medical Insurance Catalogue.
"The above-mentioned products accounted for a large proportion of the company’s operating income.
During the reporting period, the operating income of the above-mentioned products decreased significantly year-on-year.
In addition, during the reporting period, the company’s anti-infective drugs and respiratory drugs were affected by the new crown pneumonia epidemic, and there were also large-scale Sales are declining.
"

According to the annual report of Harbin Pharmaceuticals, “Affected by the new crown epidemic and the fluctuation of the pharmaceutical market environment, the sales of some core products of the company’s industrial sector have declined, the business hours of various terminal stores in the commercial sector have decreased, and the sale of drugs in some therapeutic areas is restricted or banned.
, The medical terminal has some suspensions and limited consultations, and the company’s OTC, prescription drugs and other business revenues are affected.
"

Zixin Pharmaceutical’s annual report shows that “the company’s business structure has not undergone major changes in 2020.
Affected by the new coronavirus epidemic at home and abroad, the company’s resumption of production has been delayed, resulting in a year-on-year decline in main business revenue and profits, and a loss in operating performance throughout the year.
"

But in the final analysis, the epidemic is just a catalyst, not the root cause.
From the perspective of Harbin Pharmaceuticals, "focusing on sales rather than R&D" may be summed up.
In 2020, Harbin Pharmaceutical's R&D investment is only 93 million yuan, but the sales expenses are 1.
075 billion yuan, a difference of nearly 10 times between the two.

Looking at Zixin Pharmaceutical again, in fact, it has long been in debt, and it has been losing money for two consecutive years.
The 2019 annual report shows that as of the end of the reporting period, Zixin Pharmaceutical's short-term loan balance was 3.
584 billion yuan, an increase of 23.
71% from the beginning of the period; the long-term loan balance was 1.
373 billion yuan, an increase of 33.
22% from the beginning of the period.
In 2019, Zixin Pharmaceutical's revenue and net profit attributable to shareholders of listed companies decreased by 35.
15% and 59.
62% year-on-year to 859 million yuan and 70,289,900 yuan respectively, deducting a non-net profit loss of 34.
7 million yuan, which was the first loss since listing.
.

Judging from the annual report, although the revenue of these three companies exceeded 100 million yuan, Qianyuan Pharmaceutical and Harbin Pharmaceutical were the first to lose, and Zixin Pharmaceutical’s debt problem received inquiries from the Shenzhen Stock Exchange in 2020.
, There may even be penalties for other delisting risk clauses.