Under the market changes, executive changes have become the norm
in the pharmaceutical industry.
On the first day of September, a senior executive of a pharmaceutical company came to the news of
his departure.
Zhonghong Medical announced on September 1 that the board of directors of the company recently received a written resignation report from Mr.
Cui Huijun, deputy general manager of the company, who applied for resignation as deputy general manager of the company because he had reached the statutory retirement age
.
The announcement said that Mr.
Cui Huijun will no longer hold any position in the company after his resignation, and the work he is responsible for has been smoothly handed over, and his resignation will not have an impact on
the company's production and operation.
As of the date of this announcement, Mr.
Cui Huijun does not directly hold the shares of the Company, and the shares of the Company held indirectly through Shanghai Luan Wei Trading Co.
, Ltd.
are implemented in accordance with the relevant regulations
.
Several executives changed
Several executives changed
It is understood that since the beginning of this year, a number of senior executives of Zhonghong Medical have changed
.
In addition to Mr.
Cui Huijun, on April 14, the Company announced the change of directors and agreed to nominate Mr.
Chen Jinming and Mr.
Zeng Yuan as non-independent directors of the third board of directors of the company, and to nominate Mr.
Zhang Xudong as an independent director of the third board of directors of the company; On January 7, the company announced that Mr.
Chen Chun resigned from the company's general manager and other related positions
due to personal work adjustment applications.
According to the data, Zhonghong Medical has three major divisions: health protection division, safety infusion division and innovation incubation division, of which in the health protection division, it is mainly engaged in the research and development, production and sales
of high-quality nitrile gloves, PVC gloves and other medical, industrial and daily disposable health protection gloves products.
According to the 2021 annual report, Zhonghong Medical achieved an operating income of 4.
909 billion yuan, an increase of 2.
74% year-on-year; Net profit attributable to shareholders of listed companies was 2.
342 billion yuan, down 12.
07%
year-on-year.
According to the interim report, the company achieved a total operating income of 923 million yuan in the first half of 2022, down 74.
7% year-on-year; Achieved a net profit attributable to the mother of 73.
24 million yuan, down 96.
5% year-on-year, due to the intensification of competition in the industry and the decline in
market demand.
Companies are looking for new high-growth businesses
Companies are looking for new high-growth businesses
The industry pointed out that Zhonghong Medical belongs to the A-share glove concept stock, before 2019, the company's attributable net profit was less than 100 million, with the change of the environment, the global demand for medical protection products increased, gloves brought performance explosion to the company, from 2020 to 2021, the company achieved attributable net profit of more than 2 billion yuan
.
However, with the increase in the number of enterprises entering the medical protection products, the fierce competition on the track, coupled with the decline in market demand, has brought a decline in
the company's performance.
From the change of profit indicators can also be seen in the company's operation, from 2019 to the first half of 2022, the company's gross profit margin was 18.
85%, 70.
83%, 61.
70%, 18.
32%; In the same period, the net profit margin was 7.
81%, 55.
74%, 47.
70% and 18.
32%
respectively.
In fact, not only Zhonghong Medical, A-share glove concept stocks in Yingke Medical and Lanfan Medical these head enterprises also experienced a "roller coaster", in the first half of this year, Yingke Medical achieved revenue of 3.
74 billion yuan, down 64.
96% year-on-year; Achieved attributable net profit of 402.
3 million yuan, down 93.
16% year-on-year; Blue Sail Medical's 2022 semi-annual report shows that the company's revenue in the first half of the year was about 2.
574 billion yuan, a year-on-year decrease of 50.
39%; Net loss was approximately $180 million, compared to a net profit of approximately $344 million for the same period last year
.
From the perspective of stock price performance, Zhonghong Medical rose 164% when it was listed, but then continued to fall, falling more than 74% in 17 months, and Yingke Medical and Lanfan Medical were also falling from the high point so far, falling by more than 85% and 71%
respectively.
The analysis believes that as the supply and demand of the medical glove market tend to balance, and the price of products falls, the glove protection industry dividend will disappear, and it is urgent to find new high-growth businesses
for companies whose business relies heavily on single protective glove products.
