One of the "Big Three" of medical dressings, Omei Medical, is going to land on the A-shares

, known as one of the "Big Three" of medical dressings, will land on the A-share market.
recently, according to the official website of the CSRC announced the 17th Session of the Commission's 2018 203rd meeting audit results announcement, Omei Medical Supplies Co., Ltd. (hereinafter referred to as "Omei Medical") was approved for the first time. According to the audit arrangement, Omei Medical Department in 2018 IPO review of the final list.
prospects show that Omei Medical was established in July 2002, registered in Yichangzhijiang, Hubei Province, registered capital of 374 million yuan, its main business is medical dressing research and development, production and sales. At present, Aomei Medical has become China's largest manufacturer of medical dressings, with operating income of approximately RMB1,585 million, RMB1,558 million and RMB1,711 million, respectively, for 2015-2017, corresponding to net profit attributable to the owners of the parent company of approximately RMB157 million, RMB248 million and RMB234 million, respectively.
medical dressings are a fine molecular industry of medical devices, including gauze, nonwovens, bandages and other medical hygiene materials. Omei Medical is mainly for international medical device brand manufacturers, such as the United States Johnson and Johnson to provide OEM services, that is, "production."
Aomei Medical's IPO plans to raise 598 million yuan, of which 354 million yuan will be used for medical cotton yarn projects and medical gauze projects, the remaining 244 million yuan for medical hygiene non-manufacturing projects. From the prospecto, the project is aimed at new products and new technologies, listed companies will buy land, establish new production sites, new advanced production equipment, etc., to meet the production needs of nonwovens.
before Omei Medical, there were already companies listed in the medical dressing sector. Currently known as the three major medical dressings Omei Medical, stable medical, Zhende Medical has a successful listing.
October 31, 2017, the initial publicity application of Prudent medical was rejected. On April 12, 2018, Zhende Medical landed on the Shanghai Stock Exchange, becoming the first listed company in the medical dressing industry. Omei Medical successfully held the meeting on December 25, 2018 and won the final list of IPOs in 2018.
medical dressing enterprises in China start with exports. In fact, as a global production base of medical dressings, China's medical dressings have occupied a high market share in the international market outsourcing. Omei Medical, Zhende Medical as the representative of the industry's leading enterprises, are also export-oriented business.
according to the China Medical and Health Products Import and Export Chamber of Commerce statistics, European medical dressing capacity outsourcing has reached about 90%, the United States capacity outsourcing of about 60%. Due to the continuous increase in the proportion of production outsourcing in developed countries, China is now a global production base for medical dressings, a total of more than 4500 enterprises engaged in medical dressing products exports, mainly for developed countries in Europe and the United States to provide OEM licensing contract services.
OEM licensing service, specifically refers to the domestic manufacturers responsible for the production of products, foreign brands and then labeled their own trademarks for sale. However, it is precisely because the products are not sold under their own brands, the gross margin of overseas product sales is significantly lower than the gross profit in China. For medical dressing enterprises that rely heavily on exports, is to do OEM profits less, do not do OEM no orders.
the three major companies to compete in the capital market, from the company's prospecto, the three operating income has exceeded one billion yuan. According to Omei Medical's prospecto, revenue from international markets in 2015, 2016 and 2017 accounted for 87.53 percent, 92.71 percent and 96.67 percent of its main business income, respectively.
, the United States is Omei Medical's largest market. From 2015 to 2017, revenue from the U.S. market was 732 million yuan, 776 million yuan and 901 million yuan, respectively, accounting for 53.65 percent, 54.47 percent and 55.23 percent of total operating income, according to the prospecto.
also exposed the industry's high dependence on licensing exports and other ills.
December 25, 2018, the day of the successful IPO of Omei Medical, The Economic Observer published an exclusive report on "24 quality accidents in 5 years, is Omei Medical suspected of intentionally concealing?" , causing public concern. From 2014 to 2018, the FDA disclosed 24 incidents involving Omei's medical products on its official website, the report said.
the FDA's official website, of the 24 quality incidents at Ome Medical, four were in the second category of "injury/Injury" category, 14 were in the third category of "failure/Malfunction" and six were in category 4 of "other/Others".
a similar problem at Zhende Medical in the morning. According to incomplete statistics of the Financial Times, from 2015 to 2017, Zhende Medical suffered a total of 12 administrative penalties, including 3 administrative penalties for drug supervision, 3 administrative penalties for environmental protection, 2 administrative penalties for prevention of safety, 1 administrative penalty for taxation, 1 administrative penalty related to customs, and 1 administrative penalty for quality supervision.
The above-mentioned penalties are more serious, listed companies have been three times due to product non-conformity by the drug regulatory administrative penalties, including some one-time surgical dressing package (production package) of ethylene oxide residue is not qualified and some medical protective masks are not qualified.
In addition, the outstanding IPO of sound medical care, from the submission of the prospectus, has been repeatedly subject to the reporting period by the Food and Drug Administration, the Environmental Protection Bureau, customs, human resources and social security bureau, the tax department, the Market Inspection Bureau of the punishment by the Commission.
can only say that medical dressings, a medical device fine molecule industry development has a long way to go. (Seber Blue Equipment Synthesis)