18 pharmaceutical stocks including Hengrui and Fosun were included in the world's most influential stock index! How did you do it?

On May 15, MSCI, the world's most influential stock index, announced the final results of its semi-annual index adjustment, and officially accepted China's a shares into the MSCI Emerging Market Index, which is known as "entering the market" It is reported that 234 A shares have been included in the MSCI index system, with an inclusion factor of 2.5%, and will rise to 5% in August this year The reporter noted that 18 pharmaceutical listed companies were included in MSCI's A-share index, such as step pharmaceutical, Fosun Pharmaceutical, Tongrentang, Kelun pharmaceutical, Tianshili, Hengrui pharmaceutical, China Resources Sanjiu, Jiuzhoutong, Kangmei pharmaceutical, meinian health, Huadong pharmaceutical and dong'a Ejiao What does it mean that 234 A-shares enter the market? MSCI index is the most influential stock index in the world, and also the benchmark index adopted by global portfolio managers 97% of the world's top asset managers take MSCI index as the benchmark Industry experts said that joining MSCI means a new opportunity for the A-share market, which first brings incremental capital into the market After A-share is included in MSCI index, the participation of overseas institutional investors will continue to rise In the medium and long term, A-share market will become more mature, liquidity will increase, and market trend will be more driven by basic factors According to experts' calculation, according to the factor of 5% of market value, the passive incremental capital of A-share in 2018 may reach about 100 billion yuan In the future, 100% will be included in the incremental funds that will reach about 1.8 trillion yuan In the future, overseas funds will become an important marginal variable in A-share market, and MSCI China Index will become an important buoy in the global market In the past few days, the unprofitable Geli pharmaceutical industry has submitted an application for listing on the main board of the Hong Kong stock exchange, and the unprofitable biomedical enterprises are about to achieve a breakthrough in listing in Hong Kong In recent years, the pace of China's financial opening has never stopped Shanghai Hong Kong stock connect, Shenzhen Hong Kong stock connect and bond stock connect have been opened and implemented successively, which makes it faster for a share to be fully included in MSCI Why can 18 medical stocks "enter the market"? The reporter listed 18 pharmaceutical listed companies in MSCI's A-share list From the latest market value on May 15, the market value of the above pharmaceutical enterprises has exceeded 30 billion yuan, and Hengrui pharmaceutical has even reached 361.8 billion yuan, and nearly half of the shortlisted enterprises are Chinese patent medicine enterprises Why can these enterprises be included in MSCI index in the first batch? According to the analysis of the financial statements of the shortlisted enterprises in recent years, there are four characteristics that make it an important basis for the success of "entering the motorcycle": first, the stable, fast and upward revenue and profitability At this point, first look at the performance of the enterprise In 2017, step pharmaceutical achieved a revenue of 13.864 billion yuan, an increase of 12.52% year-on-year, and a net profit of 1.638 billion yuan The important fulcrum of the company's rapid growth lies in actively seeking the exclusive patent products in the field of serious diseases, focusing on large varieties, such as Naoxintong capsule, Wenxin Granules, Danhong injection and other varieties that have been tested in the market for a long time, so as to achieve the goal of "no one has me, no one has me, and no one has me" Look at Fosun Pharmaceutical again As of the end of March, there were four major institutions holding Fosun Pharmaceutical In 2017, the company achieved revenue of 18.534 billion yuan and net profit attributable to the parent company of 3.124 billion yuan, with a year-on-year growth of 26.69% and 11.36% respectively In terms of its financial indicators, the rapid growth of the company's income and operating cash flow is a quality performance growth The reporter noted that in addition to the newly acquired gland, the company's pharmaceutical industry has a total of 21 single products and series sales of more than 100 million yuan, and the sales of five products or series sales of calf serum deproteinized injection, reduced glutathione series, Cefmetazole sodium for injection have exceeded 500 million yuan In Yunnan Baiyao's revenue of 24.3 billion yuan, the revenue of self-made products is nearly 10 billion yuan, with a gross margin of 65.61% The sales revenue of Jiuzhoutong in the circulation field in 2010 was 12.1 billion yuan, and last year it was close to 74 billion yuan, an increase of nearly 2.5 times in seven years Judging from the development of these enterprises in recent years, strong and stable profitability is the first factor Second, there is great potential for innovation Combing the financial statements of the above-mentioned enterprises in the past five years, there is a common characteristic especially obvious: innovation Hengrui pharmaceutical is the most representative In 2017, the company's revenue was 13.84 billion yuan, an increase of 24.72% year-on-year; the net profit attributable to the parent company was 3.22 billion yuan, an increase of 24.25% year-on-year, with outstanding profit advantages brought by innovation It is reported that in 2017, the revenue from antitumor drugs was 5.72 billion yuan, and the revenue from muscle relaxation and anesthesia was 3.6 billion yuan The main reason for these growth lies in Hengrui's dedication to R & D Investment: in 2017, R & D investment reached 1.76 billion yuan, a year-on-year increase of 48.53%, accounting for 12.71% of sales revenue, and a new record At present, the company has about 20 new drug innovation projects at home and abroad in clinical trials It is not difficult to judge that its R & D costs are likely to continue to grow at a high speed As far as innovation is concerned, it is worth mentioning that half of the listed pharmaceutical companies entering the market this time are mainly engaged in proprietary Chinese medicine They are favored by institutional investment and have nothing to do with innovation and R & D Step pharmaceutical invested 553 million yuan in product research and development last year, an increase of 20.50% over the previous year According to the reporter, this proportion is very rare in the Chinese patent medicine industry As of the end of 2017, there were 221 products under development, including 15 traditional Chinese medicines, 198 chemical drugs and 8 biological drugs In addition, on the basis of the successful evidence-based clinical trials of Wenxin Granules, the company continued to promote the re evaluation of evidence-based medicine of the leading products, transforming the academic advantages of the products into market advantages, and promoting the sales growth In this way, the innovation layout supports the long-term development, and the good growth and strong potential of enterprises are also the key reasons for "entering the market" Third, strong international integration ability On May 11, it was reported that Novartis was looking for a buyer for its US dermatology business, and Fosun Pharmaceutical appeared in the list of bidders for the deal It is reported that in 2017, Fosun completed a blockbuster 74% equity acquisition of Indian generic pharmaceutical company gland Pharma with 7.142 billion yuan If Fosun succeeds in the transaction of Novartis, it will continue to set a new record for the price of overseas M & A of local pharmaceutical companies The internationalization of Fosun Pharmaceutical shows that, in addition to the internationalization of products, the internationalization of people and capital is also the core element for domestic pharmaceutical companies to break through the world market According to previous interviews, by the end of 2017, the company had nearly 1500 R & D personnel, including an international R & D team of more than 300 people, working on 171 projects such as new drugs, generic drugs, biological similar drugs and consistency evaluation, which laid a good foundation for the continuous improvement of its follow-up business performance and also the cornerstone of Fosun Pharmaceutical internationalization When it comes to this, kohlen pharmaceutical has similar considerations From the perspective of 2017's revenue structure, Kelun pharmaceutical's infusion products still account for more than 60% of the company's revenue, but this proportion has declined What interests reporters is that with the adjustment of pharmaceutical policies, Kelun pharmaceutical clearly feels the ceiling of infusion field, so it launched a comprehensive survey around the unmet clinical needs, new disease targets and new technology progress at home and abroad More than 320 drug studies have been conducted in domestic and foreign markets The success of overseas authorization of innovation patents and ADC project of innovation of Kelun Pharmaceutical Co., Ltd was reported in China and the United States, which made its pharmaceutical research take an international step At the same time, there are also Tongrentang and other enterprises whose development paths show that only by integrating global resources and doing a good job in "two markets", can large-scale Chinese funded international pharmaceutical giants be truly cultivated Fourth, the construction of healthy ecological scene After reading the financial statements of these medical enterprises, there is another sign worthy of attention Taking the health of meinian as an example, in 2017, the company achieved revenue of 6.233 billion yuan, a year-on-year increase of 102.25%; the net profit attributable to shareholders of listed companies was 614 million yuan, a year-on-year increase of 81.11% The enterprise has strong profitability Many experts believe that the power comes from the coordinated profitability of the ecosystem It is reported that in 2017, the health examination territory of the United States has covered 32 provinces, autonomous regions and 215 core cities After the merger of Ciming's physical examination, the closed-loop medical and health circle created by Ciming has been continuously updated with great potential in the context of policy dividend, consumption upgrading and residents' health awareness improvement
Looking at Jiuzhoutong again, using the advantages of information technology, research on the combination of artificial intelligence, blockchain and other information technologies with the company's business scenarios, while drug sales, provide information technology and related value-added services for medical institutions, through promoting the hospital pharmacy trusteeship, consumables supply chain management, hospital pharmacy logistics management, intelligent drug warehouse transformation and extension of central drug warehouse and other service fields Jing, the proportion of the business of secondary and above medical institutions in the company's overall business is constantly increasing The sales business of kyushutong basically covers the downstream customers in various types of pharmaceutical circulation and terminal application fields It is said that Kyushu Tong defines itself as a platform company In other words, it is also competitive to keep low logistics cost and high operation efficiency Authoritative domestic investors pointed out that the MSCI index adjustment is crucial to the Chinese market, perhaps even the most important one in many years Liquidity is the main factor in the selection of individual stocks It is reported that MSCI has the following criteria for stock selection: 1 For the listed companies in the country, determine the market value of the shares of the companies that can be freely traded by international investors; 2 Adopt the global industry classification standard jointly developed by standard & Poor's and MSCI to classify the listed companies; 3 MSCI adopts the bottom-up method to construct the index, that is, at the industry level, add freedom in turn For the stocks with large circulation market value, the free circulation market value of the selected stocks in each industry will reach 85% of that in this industry; 4 Fine-tuning the selected stocks in each industry to make the free circulation market value of the selected stocks reach more than 85% of the whole market The successful inclusion of A-share in MSCI index is conducive to boosting investor sentiment in the short term; in the long term, the participation of overseas investors in A-share will be further improved, and the proportion of professional institutional investors will be further increased, which also provides a new platform for pharmaceutical listed companies to become stronger and larger.