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Zixin Pharmaceutical has lost money for three consecutive years, what is the reason?

 Last Update: 2022-10-13
 Source: Internet
 Author: User

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According to the 2022 semi-annual report disclosed by Jilin Zixin Pharmaceutical Co.
, Ltd.
(Zixin Pharmaceutical, 002118) on August 26, the company achieved operating income of 32.
0197 million yuan during the reporting period, down 74.
49% from the same period last year, and achieved a net profit attributable to shareholders of listed companies of -385.
5907 million yuan, down 87.
34%
from the same period last year.

The company's 2021 annual report shows that during the reporting period, the company achieved operating income of 246.
79 million yuan, down 13.
57% from the same period of the previous year, and achieved a net profit attributable to the shareholders of the listed company of -998.
09 million yuan, down 41.
43%
from the same period of the previous year.

Figure 1: Core operating data of Zixin Pharmaceutical from 2016 to 2021

First, the sales of proprietary Chinese medicines accounted for nearly 90%.

Zixin Pharmaceutical is mainly based on proprietary Chinese medicines and ginseng products, and in 2021, proprietary Chinese medicines accounted for 88.
11% of operating income, and ginseng products accounted for 7.
85%
of operating income.

Proprietary Chinese medicine products are mainly
used to treat rheumatic immunological, ear, nose and throat, antibacterial and anti-inflammatory, cardiovascular and cerebrovascular diseases, hepatobiliary and digestive diseases.
The main proprietary Chinese medicine products include Simiao Pills, Herbs Tablets, Renal Rejuvenation Capsules, Blood Circulation Tablets, Pinus Pills, Internal Elimination Pills, Erding Granules, Pediatric White Shells and Sea Shell Stomach Ulcers
.
Simiao Pills, Huobile Tablets, Kidney Tranquilizer Oral Liquid, Suzi Descending Pills, Sangma Oral Liquid, Longling Aphrodisiac Liquor and other 6 products are exclusive varieties
.

In this issue, the big data platform of the traditional Chinese medicine industry of Tiandi Cloud Map will briefly evaluate
the cost pressure of traditional Chinese medicine raw materials of enterprises from the perspective of raw materials involved in blood circulation tablets.

Second, the core components of the blood circulation tablet

Table 1: Core components of Blood Circulation Tablets

The drug is used to treat coronary heart disease and angina caused by coronary artery hardening or hypertension; It is also used for cerebral thrombosis, cerebral infarction, stroke sequelae, cerebral arteriosclerosis, hyperlipidemia
.

Third, the raw materials of the blood circulation tablets rise and fall

Table 2: Raw materials of blood circulation tablets rise and fall table (:yuan/kg)

Between January 22021 and October 2022, the prices of 11 kinds of raw materials increased, accounting for 64%, the prices of 2 raw materials fell, accounting for 12%, and the prices of 4 raw materials flat, accounting for 24%.

Fourth, the blood circulation of some varieties of blood circulation tablets market comments

Salvia, the market supply is sufficient, the market has moved around in recent days, the supply of goods is small batch purchase and sale, and the market is stable
.
According to the different sieving and quality, the price of Shandong danshen section is about 25-30 yuan (kilogram price, the same below), and the price of danshen slices is about
25-40 yuan.
Market demand is stable and is expected to run smoothly in the
short term.

Sichuan root, the early production area was affected by drought weather, the attention of merchants increased, and the market rose; Recently, the market situation has stabilized, the overall source of goods is not moving fast, the market price of Sichuan Qi unified goods is about 38 yuan, and the source of goods has entered the actual digestion stage
.

Red peony, the market supply has a quantity, limited by demand, the overall supply of goods moving slowly, the market and the previous period compared to the weak operation, the market red peony with reed head wild goods according to the quality difference, the price is between
47-53 yuan.
The overall attention of the market is not high, and the market digestion situation in the later period will determine the price change
.

Safflower, this year's Xinjiang safflower production after the price fell, but with the deepening of production, the output of new goods was less than expected, and the market rose
.
Near the source of futures is not moving fast, the price is stable, the market attention is not as good as the previous period, the market Xinjiang safflower net price between 160-165 yuan, Yunnan safflower price between
150-155 yuan.

Yunmuxiang, Yunnan and other production areas into the mining season, the market attention is not high, the merchants take the purchase and sales model, the overall source of goods is not moving fast, the market price of unified goods between
13-14 yuan.
This year's output is expected to be larger, coupled with limited overall demand, it is difficult to have much improvement in the future market
.

Chicken blood vine, although affected by the rainy weather, the amount of newly processed chicken blood vine since July is not much, but the amount of production and processing before the rainy season is large, and the price is still stable at 4.
5 yuan, and the transaction is stable
.

Taoren, the real estate has entered the middle term, the current supply of goods is moving smoothly, the price is basically stable, the price of the place of origin is about 35 yuan, and the price of the pharmaceutical factory is about
33.
5 yuan.

Yujin, has now entered the new production period, but there is still a period of time for the supply to be listed, the recent market and the previous period to maintain a stable, the current market thick film price of around
26 yuan.
This product has a large planting area this year, and it is expected that the market will fluctuate
after the new production.

Three-seven, merchants plan to buy according to demand, the market has recently moved in general
.
Because of the new production, merchants have paid attention to the market, the market is flat, and now the price of 120 heads is between 100-105 yuan, the price of 80 heads is 105-110 yuan, and the market of 60 heads is 110-115 yuan
.

Tangerine peel, new goods are still listed in small quantities, the color of the former futures is more yellow, the near futures source is still moving faster, the market remains firm and running, and the price of the new unified goods of the orange peel silk is about 11 yuan, and the old goods are better at
12 yuan.

5.
Comprehensive analysis

1, Sichuan and other varieties of procurement cost pressure is greater raw material pressure test shows that the current blood through the pulse of raw materials from the supply pressure, mainly from tangerine peel, Sichuan root, safflower, stone calamus and so on; From the perspective of quality pressure, it mainly comes from tangerine peel, fragrance reduction, safflower and so on
.

2, the increase in the planting area of Sichuan yam Although the artificial destruction of the seed in the early stage, resulting in the price of Sichuan root seed rising to a sky-high price, but stimulated by the high price, the farmers' own seeds have also increased, and the overall planting area has increased
compared with 2021.
This year, the country's extreme weather appears more frequently, the recent continuous rains in Sichuan, some areas of Sichuan Qiandi flooded, but as long as there is no big accident, Sichuan Qi next year's production will still increase compared with this year, the market is expected to fall
.

3, Zixin Pharmaceutical was dragged down by the ginseng market for three consecutive years with negative profits Zixin Pharmaceutical was once known as the "King of Ginseng", but in recent years, as the ginseng market is no longer hot, Zixin Pharmaceutical has gradually fallen into a debt quagmire
.
On August 7, 2021, Zixin Pharmaceutical issued an announcement that the company and its subsidiaries had overdue debts of up to 2.
513 billion yuan, and their liquidity was tight, resulting in wage arrears, tax arrears and interest arrears
.
In July this year, Zixin Pharmaceutical issued an announcement that through the China Enforcement Information Disclosure Network, it was learned that the company and some of its subsidiaries were listed as judgment defaulters
.

Winter is coming, will spring be far away? This spring is a huge ginseng market to be tapped! Although the company has a phased operational dilemma, if Zixin Pharmaceutical can shrink the front, base itself on the place of origin, and focus on the in-depth development of ginseng products, the company may still break the situation
.

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