Step length, Hengrui, Cologne, Kyushu pass ... 17 pharmaceutical company A shares | 'into the Mo'

In the early morning of May 15th, MSCI announced the results of its semi-annual index adjustment, formally admitting Chinese A-shares into the MSCI Emerging Markets Index, which is called in the industry. 234 A-shares were included in the MSCI Index. The system, with a factor of 2.5%, includes 17 drug companies, Buchang Pharmaceutical, Baiyunshan, Hengrui Pharmaceutical, and Columbine Pharmaceuticals. All of the A shares will be added to the MSCI China Index and the MSCI Emerging Markets Index. Respectively 1.26% and 0.39% weights.

MSCI (Morgan Stanley Capital International) is a well-known indexing company in the United States. It is a financial supplier that integrates equity, fixed assets, hedge funds, and stock market index business. It has compiled a variety of indices. The MSCI index is a global investment. The portfolio manager uses the most benchmark index. According to statistics, 97 of the top 100 largest asset managers in the world are MSCI clients.

The research department of CICC pointed out that this adjustment is of vital importance to the Chinese market, and may even be the most important one for many years. According to the “Join the Motorcycle” timetable, MSCI will implement the A-shares in two steps into the plan. In June, MSCI The 232 stocks of China A-shares will be included with an initial factor of 2.5%; in September, the factor will increase to 5%. CICC expects that the two inclusions will attract approximately US$21 billion into the A-share market.

In this list of A shares included in the MSCI index, there are 17 pharmaceutical companies, namely Tong Ren Tang, Baiyun Mountain, Dong'e Ejiao, Hengrui Pharmaceutical, Jiuzhou Tong, Kangmei Pharmaceutical, Huadong Medicine, Buchang Pharmaceutical, Fosun Pharma , Tasly, Tonghua Dongbao, Yunnan Baiyao, Pien Tze Huang, Shanghai Medicine, Xin Li Tai, Coron Pharmaceutical, China Resources Sanjiu.

The following is a brief introduction of 17 companies. The market value is based on the closing price on May 14, 2018.

Tong Ren Tang: Tong Ren Tang is the old name of China's traditional Chinese medicine industry. In June 1997, Beijing Tong Ren Tang Co., Ltd. was listed on the Shanghai Stock Exchange. The current total market capitalization is 52.006 billion Yuan.

Baiyun Mountain: Baiyun Mountain Pharmaceutical Co., Ltd. issued stocks and listed on the Shenzhen Stock Exchange in 1993. It is one of the earliest listed companies in China. The current total market capitalization is 64.365 billion yuan.

Dong'e Ejiao: Dong'e Ejiao was formerly Shandong Dong'a Ejiao Factory. It was built in 1952. In 1993, it was transformed from a state-owned enterprise to a joint-stock enterprise. In 1996, it became a listed company. On July 29 of the same year, Dong E-Jiao E A shares Listed on the Shenzhen Stock Exchange, it is the largest domestic manufacturer of donkey-hide gelatin and serial products. The current total market value is 36.069 billion yuan.

Hengrui Pharmaceutical: Hengrui Medicine was established in 1997 as a state-owned holding company. It officially landed on the Shanghai Main Board in 2000. Its products include antitumor drugs, surgical anesthesia drugs, special infusions, contrast media, cardiovascular drugs and many other fields. To form a more complete product layout. Industry insider evaluation Hengrui medicine is worthy of 'A shares of drug king'.

According to the new wealth statistics, Hengrui's stock price has risen more than 90 times since its listing in October 2000, with an average annual increase of more than 30%, especially in the last two years, it has been accelerating, with an average annual increase of 70%. The total market value of 258.168 billion yuan.

Kyushu Pass: A joint-stock company with Western medicine, Chinese medicine and medical device wholesale, logistics and distribution, retail chain and e-commerce as the core business. In 2009, the company’s tax-inclusive sales index was 22 billion yuan. It is the largest private enterprise in Hubei Province. Nearly 10,000 pharmaceutical commercial enterprises nationwide ranked third, China's private pharmaceutical business enterprises ranked first, and were nominated for the 'Top 500 Chinese Enterprises' for six consecutive years. On November 2, 2010, Kyushu Express was listed on the Shanghai Stock Exchange. Currently The market value of 33.967 billion yuan.

Kangmei Pharmaceutical: is a set drug , Herbal Pieces, Health Products, etc. medicine For listed companies, the source of income is mainly trade in traditional Chinese medicinal materials, in which the pharmaceutical decoctions business is oriented toward hospitals and has established long-term cooperative relationships with more than 2,000 medical institutions. Kangmei Pharmaceuticals is an industry leader with support for the whole industry chain of Chinese medicine, from Chinese herbal medicines. Trade, Herbal Pieces, Extend Commerce, Make Money at Every Link of Chinese Medicine Great Health Consumer Products, and Have a Strong Moat at Each Stage. Kangmei Pharmaceutical was listed on the Shanghai Stock Exchange on March 19, 2001. The current total market value is 1215.71. 100 million yuan.

Huadong Medicine: Founded in 1993, it is mainly engaged in the production and sales of antibiotics, proprietary Chinese medicines, chemical synthetic drugs, and genetic engineering medicines, as well as Chinese and Western medicines, and Chinese herbal medicines. medical instruments Such as the distribution business, is a large-scale integrated pharmaceutical listed company that integrates pharmaceutical R&D, pharmaceutical industry, pharmaceutical distribution, retail, and pharmaceutical logistics, and bears the national, provincial and municipal government special drug storage tasks. The company in 1999 Monthly listing on the Shenzhen Stock Exchange. The current total market value of 69.701 billion yuan.

Buchang Pharmaceutical: Starting from the national Chinese medicine enterprise in Xianyang, Shaanxi Province, the production of Naoxintong Capsules, Wenxin Granules, Danhong Injection, etc. is a standing drug for cardiovascular and cerebrovascular patients in China. It landed on the main board of the Shanghai Stock Exchange in 2016, which was the highest since that year. Issue price record - 55.88 yuan / share. The current total market value of 33.95 billion.

Fosun Pharma: Founded in 1994 and listed on the Shanghai Stock Exchange in August 1998, it is a leading listed company in the Chinese pharmaceutical industry. The current total market capitalization is RMB 105,095 million.

Tasly: ​​The main line of the health industry, the pharmaceutical industry as the center, including modern Chinese medicine, chemical drugs, biopharmaceuticals and Health products , health foods, etc., Covering scientific research, planting, extraction, preparation, marketing, etc. enterprise The Group is one of the major support groups in Tianjin. The company was listed on the Shanghai Stock Exchange on August 23, 2002. The current total market value is 45.834 billion yuan.

Tonghua Dongbao: Founded by private entrepreneur Li Yikui in Baishan Nourishing Products Factory, Tonghua City, Jilin Province in 1984, Tonghua Dongbao: In 1984, it began to undergo stock restructuring. In 1994, it officially listed on the A-share market. Its product is insulin for injection, Capsules, etc., are mainly sold to countries around the world. The current total market value is 48.772 billion yuan.

Yunnan Baiyao: In August 1984, the former State Administration of Traditional Chinese Medicine included Yunnan Baiyao formula and technology in the top secret. On November 30, 1993, Yunnan Baiyao first entered the capital market. The current market value is 110.742 billion yuan.

Pien Tze Huang: It is a national high-tech enterprise, an old Chinese enterprise, established in 1956 by its predecessor, the original Zhangzhou Pharmaceutical Factory. It was restructured in December 1999. In June 2003, Pioneer Tsai Pharmaceutical shares were successfully listed on the Shanghai Stock Exchange. The current total market value 61.46 billion yuan.

Shanghai Pharmaceutical: All assets of Shanghai Pharmaceutical Co., Ltd. were replaced by Shanghai Pharmaceutical (Group) Co., Ltd. with equal quality assets of its wholly-owned subsidiary Shanghai Pharmaceutical Co., Ltd., Shanghai Pharmaceutical Industry Sales Co., Ltd. and Shanghai Tianping Pharmaceutical Factory. It was formed and relisted on September 9, 1998. The main business is pharmaceutical manufacturing, pharmaceutical distribution and pharmaceutical retailing. The current total market value is 71.876 billion.

Xin Li Tai: Established in 1998, it is a comprehensive pharmaceutical group integrating R&D, production and sales of pharmaceutical products. It specializes in the research and development, production and sales of cardiovascular drugs, cephalosporin antibiotics, and bone resorption inhibitors. Listed on the Shenzhen Stock Exchange in 2009. The current total market value of 42.74 billion yuan.

Cologne Pharmaceuticals: Founded in 1996, is China's largest professional infusion manufacturer. On June 3, 2010, Coron Pharmaceutical was listed on the SME Board of the Shenzhen Stock Exchange. The current market value is 49.421 billion yuan.

China Resources Sanjiu: Large-scale state-owned pharmaceutical listed company, formerly Shenzhen Nanfang Pharmaceutical Factory. On April 21, 1999, it initiated the establishment of a joint-stock company. It was listed on the Shenzhen Stock Exchange on March 9, 2000 and officially entered into the end of November 2007. China Resources Group is principally engaged in the research and development, production, sales and related health services of pharmaceutical products. The current market value is 27.48 billion yuan.

According to the MSCI stock selection standard, liquidity is the main factor for the consideration of individual stocks. The data shows that the MSCI stock selection criteria mainly include the following:

1. For listed companies in the country, determine that international investors can freely buy and sell market capitalization of the company's shares;

2. Industry classification of listed companies using global industry classification standards jointly developed by Standard & Poor's and MSCI;

3. MSCI adopts a bottom-up approach to structure the index, that is, at the industry level, it adds stocks with large free float market capitalization in order, so that the free float market value of selected stocks in each industry reaches 85% of the industry;

4. Fine-tune the selected stocks in various industries so that the free float market value of the selected stocks reaches more than 85% of the entire market.

The successful inclusion of the A-shares in the MSCI Index will help boost investor sentiment in the short term. In the long run, the participation of overseas investors in A-shares will further increase, and the proportion of professional institutional investors will further increase.

Li Dazhao, chief economist of British University Securities, said that the pace of China’s opening to the outside world is all-round, and that the A share’s “into the mortgage” means that the Chinese securities market has been recognized internationally. This is a great improvement.

In fact, in recent years, the pace of China's financial liberalization has never stopped. The Shanghai-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect, and the implementation of the bond bank have been implemented. QFII (qualified foreign institutional investors) and RQFII (Renminbi Qualified Foreign Institutional Investors) continue to expand... ...

On April 11th, Yi Gang, Governor of the People's Bank of China, put forward specific measures and timetables for the opening up of the financial industry at the Boao Forum for Asia 2018, including the opening of 'Shanghai Luntong' in 2018, and the elimination of bank and financial asset management. The company's foreign ownership limit, etc.

Yi Gang said, 'In the financial market, how to make foreign capital into the stock market and bond market, how to incorporate the Chinese stock index into the world's major indexes, we have been doing these tasks.'

It is worth mentioning that from May 1 onwards, the daily quota for interconnection has been expanded by four times: the daily quota of Shanghai Stock Exchange and Shenzhen Stock Exchange has been adjusted from RMB 13 billion to RMB 52 billion, and the daily quota of HK Stock Connect has been from RMB 10.5 billion. Yuan adjusted to 42 billion yuan.

It is reported that South Korea and Taiwan used 6-9 years in full time.

Li Dazhao pointed out that there are many factors affecting the A-shares being included in MSCI, including their degree of internationalization, degree of openness, and liquidity, which basically match the pace of opening up. 'The pace of China's financial opening is accelerating, which makes A share is fully integrated into MSCI only faster than other emerging markets.