Recently, the first three quarters of listed companies are disclosed period, in the pharmaceutical industry, the CXO (pharmaceutical outsourcing services) companies in the subdivision track have obvious performance differentiation, including WuXi AppTec, Porton, Clarion, Zhaoyan New Drug, Jiuzhou Pharmaceutical, Sunshine Novo and many other leading companies in the first three quarters performance are very eye-catching
.
WuXi AppTec, a leading company in the industry, released its third quarterly report on the evening of October 26, showing that in the first three quarters of this year, the company achieved revenue of 28.
395 billion yuan, a year-on-year increase of 71.
9%; The net profit attributable to the parent was 7.
378 billion yuan, a year-on-year increase of 107.
1%.
As for the reasons for the sharp increase in performance, the company said that the revenue from customers in the United States in the first three quarters reached 18.
991 billion yuan, a year-on-year increase of 110%, an increase exceeding that of customers
in other regions.
From the enterprise level, the revenue from the world's top 20 pharmaceutical companies was 12.
918 billion yuan, a year-on-year increase of 175%.
On the same day as the release of its third quarterly report, WuXi AppTec also announced that due to the continued healthy development of the company's business and strong cash flow from large-scale commercial production orders, the company decided to terminate its plan to
issue additional overseas listed foreign shares (H shares).
From the perspective of the entire CXO industry, such as WuXi AppTec, with the advantages of integration, global layout, multi-location operation and full industry chain coverage, actively expanding overseas business, thereby achieving rapid growth in performance, such as Porton Shares, Kelley, etc.
, the net profit in the first three quarters increased by 337.
42% and 291.
58%
year-on-year, respectively.
In addition, some leading enterprises have also achieved good results
through active layout under the background of hot research and development of innovative drugs.
For example, Zhaoyan New Drug achieved operating income of 1.
276 billion yuan in the first three quarters, a year-on-year increase of 49%; The net profit attributable to the parent was 632 million yuan, a year-on-year increase of 154.
9%; In the third quarter, the net profit attributable to the parent was 261 million yuan, a year-on-year increase of 176.
77%.
It is reported that Zhaoyan New Drug continued to strengthen its support for the research and development of innovative drugs during the reporting period, and won the trust
of innovative R&D enterprises.
In order to ensure the smooth delivery of orders in hand, the company further increased production capacity, and at the same time reasonably planned the project schedule, further improving the capacity utilization rate
.
However, there are good news and bad news, not all CXO companies can achieve high performance growth, and some companies face challenges
in terms of profitability.
For example, Baihua Pharmaceutical's profit attributable to the parent fell by 79.
97% in the first three quarters, which the company said was mainly due to the debt restructuring income of 47.
5566 million yuan in the same period of the previous year, as well as the increase in R&D expenses and equity incentive expenses in the current period, which reduced the net profit of the current period compared with the same period of the previous year
.
In addition, PharmaBlock fell by 43.
57%, Boji Pharmaceutical fell by 35.
72%, and the performance of companies such as Price and Tigermed
declined.
On the whole, the report cards of the leading companies in the domestic CXO industry in the first three quarters are relatively bright, while some companies with smaller revenue scale generally perform sluggishly
.
The industry believes that the barriers of the CXO industry are high, and it is expected that the CXO industry will still be in a golden period
of development in the future.
According to Southwest Securities Research Report, the impact of WuXi Biologics' UVL list is expected to be gradually lifted from October, and the short-term new crown-related CDMO large-volume orders and endogenous business continue to increase rapidly, and the CXO industry is still a high-quality sector with both certainty and growth; At the same time, domestic innovative drugs have entered the harvest period, further bringing incremental space to the CXO industry, and it is expected that the performance of the CXO sector will remain high and the certainty is high, and it is recommended to pay attention to the platform-based CXO enterprises with integrated industrial chain layout and the high growth targets of
Q2 performance.
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