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On November 17th, the domestic CDMO giant successfully passed the Hong Kong Stock Exchange listing hearing, with Goldman Sachs and CITIC Securities as their joint sponsors
.
It is understood that Kailaiying submitted its listing application on the Hong Kong Stock Exchange on June 28 this year
.
Subsequently, on September 21 this year, the company announced that it obtained the approval of the China Securities Regulatory Commission for the issuance of overseas listed foreign shares, which approved the company to issue no more than 49.
238 million overseas listed foreign shares
.
This listing is expected to raise 1 billion to 1.
5 billion US dollars
.
According to data, Kailaiying is a CDMO company, which mainly provides one-stop services and solutions throughout the life cycle of drug development and production
.
The company was listed on the Shenzhen Stock Exchange in November 2016
.
In terms of revenue in 2020, Calais is the world's fifth-largest innovative drug raw material CDMO, accounting for approximately 1.
5% of the market
.
Financial data shows that Kailaiying's revenue and profit growth have both slowed down
.
Although the company's revenue increased from 1.
823 billion yuan in 2018 to 2.
446 billion yuan in 2019, it will reach 3.
137 billion yuan in revenue in 2020, with a compound annual growth rate of 31.
2%
.
However, the revenue growth rate in 2020 is 28.
25%, which is 5.
93 percentage points lower than the 34.
18% growth rate in 2019
.
During the period, the company's profit in 2020 was 719.
7 million yuan, an increase of 168.
1 million yuan from 551.
6 million yuan in 2019; however, the profit growth rate in 2020 was 30.
47%, which was 5.
26 percentage points lower than the 35.
73% increase in 2019
.
According to the company's explanation, this is mainly due to the impact of the epidemic.
The company closed some office spaces and production plants in 2020, which affected the company's operations, sales and marketing activities
.
The third quarter report of 2021 shows that the company achieved operating income of 2.
923 billion yuan in the first three quarters, a year-on-year increase of 40.
34%; realized attributable net profit of 695 million yuan, a year-on-year increase of 37.
26%, and a steady growth in performance
.
In recent years, with the frequent promulgation of favorable policies, local innovative drug companies have developed rapidly, and related outsourcing industrial chains such as CRO and CMO have been activated
.
Zheshang Securities stated that the local clinical CRO benefited from the high R&D investment demand of local innovative drugs and the release of more medical resources after the clinical trial filing system, and the market will further expand
.
In this context, related giant companies are expected to gain more opportunities by virtue of their advantages
.
On November 16, Gloria Ying spread the news of signing a large order
.
According to the announcement, the company's wholly-owned subsidiary Asymchem, Inc and Jilin Kailaiying Pharmaceutical Chemical Co.
, Ltd.
have signed a new batch of "supply contracts" for a small molecule chemical innovative drug CDMO service that has already been cooperated with a large American pharmaceutical company
.
As of the signing date of the contract, the cumulative contract value of the CDMO service for this product is US$480 million, and the contract period is 2021-2022
.
According to reports, Kailaiying has worked closely with this large US pharmaceutical company in the past three years
.
From 2018 to 2020, Calais’ revenue from this customer was 185 million yuan, 249 million yuan, and 638 million yuan, respectively, accounting for 10.
07%, 10.
11%, and 20.
25% of the operating income of the year
.
The scale of this cooperation shows that the cooperation between the two parties has been upgraded
.
Guojin Securities believes that 2021 will be a year of more production capacity release.
It is estimated that about 55% of new production capacity will be released throughout the year.
Considering the average execution cycle of large orders, it will be a stable process from capacity release to performance release.
We are optimistic about the future 4- In the six quarters, the order acceptance and performance release brought about by the release of new capacity gradually accelerated
.
Affected by a series of good news, on November 17, Kailaiying directly gapped and opened the daily limit.
The highest price reached 458.
37 yuan/share, approaching the historical high of 459.
36 yuan/share
.
As of the close, Kailaiying closed at 446 yuan per share, up more than 7.
03%, and its total market value was as high as 109.
1 billion yuan
.
.
It is understood that Kailaiying submitted its listing application on the Hong Kong Stock Exchange on June 28 this year
.
Subsequently, on September 21 this year, the company announced that it obtained the approval of the China Securities Regulatory Commission for the issuance of overseas listed foreign shares, which approved the company to issue no more than 49.
238 million overseas listed foreign shares
.
This listing is expected to raise 1 billion to 1.
5 billion US dollars
.
According to data, Kailaiying is a CDMO company, which mainly provides one-stop services and solutions throughout the life cycle of drug development and production
.
The company was listed on the Shenzhen Stock Exchange in November 2016
.
In terms of revenue in 2020, Calais is the world's fifth-largest innovative drug raw material CDMO, accounting for approximately 1.
5% of the market
.
Financial data shows that Kailaiying's revenue and profit growth have both slowed down
.
Although the company's revenue increased from 1.
823 billion yuan in 2018 to 2.
446 billion yuan in 2019, it will reach 3.
137 billion yuan in revenue in 2020, with a compound annual growth rate of 31.
2%
.
However, the revenue growth rate in 2020 is 28.
25%, which is 5.
93 percentage points lower than the 34.
18% growth rate in 2019
.
During the period, the company's profit in 2020 was 719.
7 million yuan, an increase of 168.
1 million yuan from 551.
6 million yuan in 2019; however, the profit growth rate in 2020 was 30.
47%, which was 5.
26 percentage points lower than the 35.
73% increase in 2019
.
According to the company's explanation, this is mainly due to the impact of the epidemic.
The company closed some office spaces and production plants in 2020, which affected the company's operations, sales and marketing activities
.
The third quarter report of 2021 shows that the company achieved operating income of 2.
923 billion yuan in the first three quarters, a year-on-year increase of 40.
34%; realized attributable net profit of 695 million yuan, a year-on-year increase of 37.
26%, and a steady growth in performance
.
In recent years, with the frequent promulgation of favorable policies, local innovative drug companies have developed rapidly, and related outsourcing industrial chains such as CRO and CMO have been activated
.
Zheshang Securities stated that the local clinical CRO benefited from the high R&D investment demand of local innovative drugs and the release of more medical resources after the clinical trial filing system, and the market will further expand
.
In this context, related giant companies are expected to gain more opportunities by virtue of their advantages
.
On November 16, Gloria Ying spread the news of signing a large order
.
According to the announcement, the company's wholly-owned subsidiary Asymchem, Inc and Jilin Kailaiying Pharmaceutical Chemical Co.
, Ltd.
have signed a new batch of "supply contracts" for a small molecule chemical innovative drug CDMO service that has already been cooperated with a large American pharmaceutical company
.
As of the signing date of the contract, the cumulative contract value of the CDMO service for this product is US$480 million, and the contract period is 2021-2022
.
According to reports, Kailaiying has worked closely with this large US pharmaceutical company in the past three years
.
From 2018 to 2020, Calais’ revenue from this customer was 185 million yuan, 249 million yuan, and 638 million yuan, respectively, accounting for 10.
07%, 10.
11%, and 20.
25% of the operating income of the year
.
The scale of this cooperation shows that the cooperation between the two parties has been upgraded
.
Guojin Securities believes that 2021 will be a year of more production capacity release.
It is estimated that about 55% of new production capacity will be released throughout the year.
Considering the average execution cycle of large orders, it will be a stable process from capacity release to performance release.
We are optimistic about the future 4- In the six quarters, the order acceptance and performance release brought about by the release of new capacity gradually accelerated
.
Affected by a series of good news, on November 17, Kailaiying directly gapped and opened the daily limit.
The highest price reached 458.
37 yuan/share, approaching the historical high of 459.
36 yuan/share
.
As of the close, Kailaiying closed at 446 yuan per share, up more than 7.
03%, and its total market value was as high as 109.
1 billion yuan
.
