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As the annual reports and first quarter reports of 380 listed companies in the pharmaceutical and biological sector (including equipment) have been announced, while the data is gratifying, there is another point that deserves special attention.
Some companies with seemingly excellent net profits have their figures and non-net profits deducted.
The gap is quite large, and the beautification effect of huge non-recurring gains and losses on net profits has also led to considerable "water" in the net profits of some listed companies
.
On the whole, the net profit attributable to the parent of the medical and biological sector in 2020 will be 136.
603 billion yuan, and non-net profit will be 109.
281 billion yuan; non-recurring gains and losses will reach 27.
322 billion yuan, and the overall net profit will have a moisture content of 20%
.
In the first quarter of 2021, the net profit attributable to the parent was 57.
In detail, in 2020, there are 22 companies in the pharmaceutical and biological sector (excluding equipment) with a net profit moisture ratio of 100% or more, 224 companies in the 0-100% range, and only 46 companies with a negative moisture content
.
In the first quarter of 2021, 16 companies have a net profit moisture ratio of 100% or more, 221 companies are in the 0-100% range, and 52 companies are negative
Among them, the 10 companies with the highest moisture content in net profit in 2020 and the first quarter of 2021 are as follows:
2020 year
According to the annual report data of listed pharmaceutical companies in 2020, the top three with the highest net profit except for devices are Taiji Group, Qianjiang Biochemical and Asia-Pacific Pharmaceuticals
.
In addition, there are many well-known companies in the top ten, such as Donge Ejiao, Yuheng Pharmaceutical, Harbin Sanlian and so on
At the same time, from the perspective of sub-industry, chemical medicine has become the sub-industry that appears the most in the top ten list, with a total of 5 chemical medicine companies on the list, followed by traditional Chinese medicine, Tai Chi Group and Dong E Jiao
.
The biopharmaceutical and commercial companies have the least number of companies on the list, while the medical service category is not on the list
Tai Chi Group
On the evening of April 23, Taiji Group released its 2020 annual report.
During the period, it achieved revenue of 11.
208 billion yuan, a year-on-year decrease of 3.
74%; net profit attributable to the parent company was 66.
67 million yuan, claiming to turn losses into profits year-on-year
.
However, under comparative analysis, its net profit after deducting non-recurring gains and losses was -550 million yuan, and non-operating gains and losses during the period reached 621 million yuan, far exceeding its net profit income
That is to say, like many ST companies, Taiji Group's turnaround this year completely relies on non-recurring gains and losses.
This is not a good thing.
According to the Taiji Group's announcement, the non-operating gains and losses during the period were mainly derived from the holding subsidiary Chengdu Xinhengsheng The amount of non-recurring gains and losses from real estate company equity, stock market value changes and government subsidies received during the current period was approximately 621 million yuan
.
Dong Ejiao
On March 20, Donge Ejiao released its 2020 annual report.
The net profit attributable to shareholders of listed companies increased by 109.
52% year-on-year to 43 million yuan, and the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses increased by 92.
65% year-on-year to a loss of 0.
39.
billion, during the non-recurring gains and losses 083 million yuan, net profit of 191.
16% moisture content
.
According to the analysis of Donge Ejiao's net profit in 2020, the sharp drop in non-recurring income and expenses will have the greatest impact on net profit
.
According to the announcement, in 2020, non-recurring profit and loss items that have a greater impact on enterprises include government subsidies of 62.
06 million yuan, financial asset investment income of 17.
4 million yuan, and other non-operating incomes of 17.
9 million yuan
.
In addition, during the period, Donge Ejiao's fee reduction also played a key role in performance
.
In addition to administrative expenses, several other expenses of the company have all seen substantial declines in varying degrees
However, although Dong Ejiao's net profit after deduction of non-profits in 2020 is still at a loss, from a single quarterly perspective, the company's profitability is gradually improving
.
From the previous "luxury" consumption level positioning to returning to "life>
According to the statistics reported by listed pharmaceutical companies for the first quarter of 2021, the top three with the highest net profit except for equipment are Qianmo Pharmaceutical, Dali Pharmaceutical and Longshen Rongfa
.
In addition, there are also a number of well-known companies in the top ten, such as Wise Medical, Jingfeng Pharmaceutical, Dongyang Sun and so on
At the same time, from the perspective of sub-industry, chemical medicine is still the sub-industry that appears the most in the top ten list.
There are a total of 5 chemical medicine companies on the list, followed by traditional Chinese medicine, which is developed for Dali Pharmaceutical and Longshen
.
However, unlike the situation in 2020, the smart medicine period in the medical service in the first quarter was on the list, while no biopharmaceutical company appeared on the list
.
Qianyuan Pharmaceutical
On April 27, 2021, Qianyuan Pharmaceutical disclosed a quarterly report.
During the period, it realized total operating income of 220 million yuan, a year-on-year increase of 47.
7%; it realized a net profit of 1.
019 million yuan attributable to the parent, turning losses into profits year-on-year
.
But deducting the net loss of non-net profit of 11.
3113 million yuan, the non-recurring gains and losses of 12.
33 million yuan, the proportion of net profit reached 1210.
56%
.
From the data point of view, Qianyuan Pharmaceutical was the company with the highest moisture content in the net profit of all pharmaceutical companies in the first quarter, but there were nearly 15 million government subsidies in the 12.
33 million non-recurring profits and losses
.
In terms of profit sources, the company’s performance turned losses into profits year-on-year, with net profit attributable to the parent at -11.
311 million yuan.
Although the net profit attributable to the parent was positive, a large part of the total profit in the first quarter of 21 came from government subsidies, even far ahead of the previous year.
The person
.
It can be said that Qianyuan Medicine today is completely dependent on government subsidies to survive
.
However, in 2021 compared to the same period last year, non-net profit has indeed increased significantly year-on-year.
After 13 products withdrew from the medical insurance list in 2019, Qianyuan Pharmaceutical is still committed to the research and development of high-end generic drugs in chronic diseases and other fields.
Obtained considerable results afterwards
.
Editor in charge | Penicillin
