Far exceeding the industry average year-on-year net profit growth of 340.5% Haizheng how to attract high capital

the | As of February 1, 2025, 222 pharmaceutical listed companies announced their year-end earnings forecasts, with an average net profit of 281 million yuan (based on the median forecast range), an average increase of 60.75 percent.
Among them, Haizheng Pharmaceuticals with annual net profit of 410 million yuan, an increase of 340.5% YoY excellent data, significantly ahead of the industry average, ranked 17th in the overall industry, you know this is included in the outbreak during the surge in revenue masks, testing reagents and other equipment industry, if the interference factors are excluded, Haizheng Pharmaceuticals last year's performance properly into the top 5.
, however, According to Haizheng Pharmaceuticals' 2020 earnings forecast, after deducting non-recurring profit and loss items, it is expected to make a profit of only 40 million yuan to 70 million yuan.
's pre-growth in earnings was mainly due to an increase in gross margin contribution from the increase in sales of the company's preparations, a year-on-year decrease in sales, management and other operating expenses resulting from improved overall operating efficiency, as well as a decrease in the size of interest-bearing liabilities and a decrease in financing-related financial expenses.
However, more crucially, Haizheng Pharmaceuticals in 2019 proposed reform policies, performance has finally improved, and last year ushered in "High Capital" to become the second largest shareholder, whether it can help Haizheng Pharmaceuticals really out of trouble, to achieve "reversal."
, the former "brilliant", now "dilemma" whenever mentioned Haizheng pharmaceutical industry, will always remind people of the company "year brave".
Zhejiang Haizheng Pharmaceuticals was founded in 1956, in July 2000 on the A-share listing, in 2012 with the global pharmaceutical giant Pfizer in the field of brand generics joint venture to establish Haizheng Pfizer (Haizheng Pharmaceuticals accounted for 51% of the shares, Pfizer It accounted for 49% of the shares; later named Hanyu Pharmaceuticals), its total revenue in 2014 exceeded the 10 billion mark, two years earlier than today's "Pharma One Brother" Hengrui Pharmaceuticals (2016 total revenue of 11.094 billion yuan).
, haizheng Pharmaceuticals has not broken the $20 billion mark since its peak market capitalisation reached $26.2 billion in 2015.
same period, Hengrui Pharmaceuticals has risen from more than 100 billion in 2015 to more than 540 billion so far, becoming the "leading brother" of the domestic pharmaceutical industry.
reasons for such a contrast in status, but the underlying reason is particularly simple for onlookers: not being clear about market trends and not being bold enough.
In 2017, Pfizer sold a 49 percent stake in Haizheng Pfizer to Sapphire, which is controlled by Technology Capital, for $286.39 million (RMB1,902 million), based on the strategic restructuring of its global business, which is part of a gradual divestiture of its generics business with a greater focus on innovative pharmaceuticals.
April 2018, Haizheng Pfizer officially changed its name to Hanyu Pharmaceuticals, with Haizheng Pharmaceuticals holding 51% and HPPC HoldingSARL, a wholly owned subsidiary of Sapphire, holding 49%.
Pfizer's exit, although it has hit the company's revenues at a big discount.
but the real pity behind it is that Pfizer, the world's number one, is giving up on generics, but it's still in the back.
Hanxuan pharmaceutical equity structure map source: enterprise inspection on the other hand, knowing that the subsidiary trouble, drag down the core industry, but no courage "strongman broken wrist."
, Yunnan Biopharmaceutical Co., Ltd. ("Yunsheng Company"), a controlling subsidiary with an investment of 151 million yuan, has filed for bankruptcy and restructuring last year after a sustained decline in operating performance and stagnant product planning and project construction due to internal and external factors.
as of June 30, 2020, Haizheng Pharmaceuticals and its subsidiaries had received 121 million yuan in receivables from Yunsheng, and had prepared 18.68 million yuan for bad debts; Equity investment of 150 million yuan, has been included in the long-term equity investment impairment reserve of 150 million yuan, the merger level of Yunsheng confirmed goodwill of 92.6 million yuan, has been calculated impairment of 92.6 million yuan.
a number of positive and short factors, resulting in Haizheng Pharmaceuticals in recent years underperformance.
resulted in a loss of 139 million, 283 million, 141 million, 612 million and 2.521 billion net profits for 2015-2019, respectively.
last year's outbreak of the new crown, but also the company's performance has been affected.
the first three quarters of 2020, the company achieved operating income of RMB8.15 billion, down 1.9% YoY, and net profit attributable to the company was RMB343 million, down 72.71% YoY.
, high holding, will face the change of the bureau in order to fill the huge losses, the company's management carried out a drastic reform.
2019 put forward the "focus, slim down, optimize" three principles, and through the sale of real estate, equity and other types of assets to withdraw funds.
Haizheng Pharmaceuticals in the first half of 2020 sales costs source: the company's financial results last year under the impact of the new crown outbreak, the company's implementation of internal controls have thus achieved significant results.
first half of 2020, sales expenses fell 20% year-on-year to 1.15 billion yuan, with marketing business expenses and sales department expenses down 25% and 44% year-on-year, respectively.
the first half of this year, operating income was RMB5.32 billion, down 6.13% YoY, and net profit attributable to the parent company was RMB241 million, up 357.31% YoY.
outbreak of the new crown, but also let its anti-infected drug products sales increased significantly, the first half of the year-on-year growth of 53.42 percent, revenue accounted for a 7 percent increase.
Among them, with anti-tumor preparations, oral solid preparations and high-end Pernam preparation production line of Hanyu Pharmaceuticals, through professional sales behavior and a variety of academic promotion means, in the field of disease treatment to establish a professional product image and market positioning has a key role.
but from the current state of Haizheng Pharmaceuticals, its three principles seem to have only achieved the weight loss stage? As for focus and optimization, there is no clear content display at present.
Haizheng Pharmaceuticals 2020 mid-year results source: Fu Tu niu cattle in fact, Sun company Hanyu Pharmaceutical has been one of the main sources of revenue for Haizheng Pharmaceuticals.
2018, 2019 and January-June 2020, Hanyu Pharmaceuticals achieved net profit of 529 million, 541 million, 389 million yuan, respectively, operating cash flow of 470 million yuan, 489 million yuan, 255 million yuan, which is a very high-quality assets.
same period, Haizheng Pharmaceuticals (Hangzhou), a 100% controlled subsidiary of Haizheng Pharmaceuticals, achieved revenue of 2.8 billion yuan, while net profit was 23.0166 million yuan.
based on this, the news that Gao Yan Capital indirectly invested in Haizheng Pharmaceuticals through the sale of Hanyu Pharmaceuticals has also triggered a heated market debate.
, perhaps mainly at present, mainly want to save this still high-quality enterprise from the source, playing the card in hand.
July 20, 2020, Haizheng Pharmaceuticals announced that it would purchase a 49% stake in Hanyu Pharmaceuticals from HPPC through the issuance of shares, convertible corporate bonds and cash payments, and raise matching funds.
the deal, Hanyu Pharmaceuticals will be 100% owned by its parent company, Haizheng Pharmaceuticals.
as a result, the asset restructuring package, which has been subject to a number of adjustments, was conditionally approved by management on 25 December last year.
this means that Gao's capital will not only make a lot of money on Hanyu Pharmaceuticals, but will also hold a 21.53 per cent stake in Haizheng Pharmaceuticals, becoming the second largest shareholder.
The current situation, only hope in the "pharma investment sage hand" high capital empowerment, can have given up some of the drug research and development, the sale of real estate, holding companies, etc. to fill the huge losses "to make a living" haizheng pharmaceutical industry has a major change.
, can we realize the reversal of the dilemma? In summary, haizheng pharmaceutical industry, which has a high holding, the certainty of the reversal of the predicament is still relatively large.
, compared with other generic drug companies in the same industry, Haizheng Pharmaceuticals itself has a very attractive API business, can produce low-cost high-end generic drugs.
, from the successful transformation of API preparations, but also let the company in response to the collection has a greater advantage.
For example, the company's four drugs in the third batch of national volume procurement, of which the curvature, anatrophos, are sales of up to 1 billion levels of "heavy bomb" (2019 sales of 1.52 billion yuan, 977 million).
, on the other hand, Hanyu Pharmaceuticals will also make the company's financial situation more healthy, conducive to enhance the value of the company's investment.
But at the same time, after all, Haizheng Pharmaceuticals' current debt pressure is still greater, whether the follow-up performance can continue to maintain beautiful growth, high-profile entry can lead the company to return to its former glory, all by time to test.