Only 4 new medical stocks this year | 24 pharmaceutical companies IPO are still on the road

Recently, the long-lived biological vaccine incident continued to fertilize. The data showed that long-lived organisms continued to fall within 7 trading days of July 16-24, with a cumulative decline of 52.14%. Changsheng Bio-July 23 The company issued a notice saying that the company was investigated for suspected information disclosure violations. If the company was found to have committed a major illegal act or transferred to the public security organ due to the investigation of the above-mentioned case, the company's stock may be subject to delisting risk warning and suspension of listing. Or the risk of termination of listing; announced on July 25, suspended for one day, reopened on the 26th, the company's stock abbreviation changed from 'Changsheng Bio' to 'ST Changsheng'. In addition, the chairman of Changsheng Bio was censored, the prelude to the claim On the evening of July 27th, the CSRC revised the delisting system and clarified that listed companies are involved in major public security, ecological security, production safety and public health and safety, and the stock exchanges should strictly follow the law. A suspension was made to terminate the company's stock trading decision, which is also in line with the problems that Changsheng Bio was investigated on the 27th.

However, the emergence of vaccine incidents may make pharmaceutical companies more difficult to market in the future, and ushered in stricter regulatory review.

(Statistics as of July 25; Source: Eastern Fortune Network)

The vaccine incident has brought many influences. Now everyone's attention to the pharmaceutical sector is very high, especially for companies with potential risks, which will inevitably be strictly guarded. The regulation of listing of pharmaceutical companies will become more and more strict. The analysis pointed out that the vaccine incident, on the one hand, the valuation of some pharmaceutical stocks was downgraded by the brokerage institutions, on the other hand, the quality problems of listed listed companies should be brought to the attention of regulators and investors.

In fact, since the fourth quarter of last year, many listed companies have been 'destroyed' in front of the audit committee, and more have terminated the review in the IPO queuing process. Commercial bribery, excessive sales fees, abnormal gross margins, patents and other issues have become one of the important reasons for this. There are three main reasons for termination of the review: First, it is reported, involving equity changes, related transactions, administrative penalties, etc. On the other hand, issuers and intermediaries failed to solve or explain the reported problems; second, the performance of the proposed IPO companies declined, not in line with the conditions for issuance; third, the problem of financial fraud.

At present, there are 24 pharmaceutical companies lined up in IPO, Beijing Kangchen Pharmaceutical, Ganli Pharmaceutical, Zhejiang Angli Kang Pharmaceutical, etc. have passed the examination, how many pharmaceutical companies in the second half will be able to successfully pass the IPO is still unknown.

According to statistics, in 2017, a total of 41 pharmaceutical companies successfully landed in A-shares, including 36 in the first three quarters and five in the fourth quarter. Since 2018, there are only four. In recent years, the regulatory authorities have zero on the listed companies. After the meeting, the high veto rate frequently appeared, the IPO review speed slowed down, the application for the application for termination of the review, etc., which passed a strict supervision signal.

(Statistics as of July 25; Source: Eastern Fortune Network)

Rundu is the first pharmaceutical company to land in A shares in 2018, and its products cover peptic ulcers. hypertension , local anesthesia for surgery, antipyretic and analgesic, etc. Main products: rabeprazole sodium enteric-coated capsules, irbesartan capsules, ibuprofen sustained-release capsules, levobupivacaine hydrochloride injection, raw materials Medicine and pharmaceutical intermediates, etc.

Note: The above data are all filled in with company consolidated statement data.

Source: Rundu Pharmaceutical 2018 Semi-annual Results Express

According to the 2018 semi-annual performance report, Rundu Pharmaceutical's revenue was 477 million yuan, up 27.92% year-on-year; net profit was 52.18 million yuan, up 12.76% year-on-year. Rundu Pharmaceutical said that the growth was due to the expansion of the company's production and operation scale. Sales revenue continued to grow, and profitability was further enhanced. In addition, total assets, owners' equity and share capital attributable to shareholders of listed companies increased by more than 30%, mainly due to the initial public offering of shares and the transfer of capital reserve into share capital.

For the future development strategy, Rundu shares said that it will continue to maintain a unique new drug formulation (micropill capsules, pellets tableting technology, etc.), leading in the development of enteric and slow-release preparation technology, while actively developing original Development of new drugs and multiple varieties drug Technology upgrade; Gradually promote the industrial upgrading strategy from raw material medicine to vertical integration of preparations; Develop diversified research and development model, strengthen cooperation with domestic and foreign technology-based R&D institutions, develop series of high-end preparation products, and promote the development of international trade of the company, Gradually realize the internationalization strategy, and strive to become a leading company in the domestic production of pellets, anti-hypertensive Sartans and other specialty products.

On April 12, Zhende Medical successfully landed in A-shares. Its main business is the production, research and development and sales of medical dressings. The main product lines cover modern wound dressings, surgical control products, traditional wound care products and pressure therapy and fixed products. .

In 2017, Zhende Medical's revenue was 1.306 billion yuan, up 26.18% year-on-year; net profit was 122 million yuan, up 46.99% year-on-year. In the first quarter of 2018, revenue was 280 million yuan, down 4.34% year-on-year; net profit was 1.71 million yuan. Yuan, down 10.54% year-on-year. For the first quarter's performance decline, Zhende Medical did not explain in the quarterly report.

Recently, Zhende Medical announced that it has established a holding subsidiary for foreign investment. The holding subsidiary established this time is mainly engaged in the company. movement The market development, promotion and sales of sports products such as protective gears are in line with the company's development plan, which is conducive to the rapid opening of the market in the company's sports field, promote business growth and enhance comprehensive competitiveness.

As the first unicorn to return to A shares enterprise The market prospect of WuXi PharmaTech has been optimistic. From pre-disclosure, update, meeting, meeting, taking 50 days, and after more than half a month, 'lightning' to get IPO approval. May 8 WuXi PharmaTech was officially listed. It took only 14 trading days, and its market value exceeded 100 billion. As of July 24, its market value reached 93.2 billion yuan. In addition, it also set a record for the most profitable new stocks this year, 16 A continuous word board, each of which has a profit of over 100,000 yuan.

In the first quarter of 2018, WuXi PharmaTech's revenue reached 2.142 billion yuan, up 21.13% year-on-year; net profit was 291 million yuan, down 13.72% year-on-year. For the decline in performance, WuXi PharmaTech pointed out that in the first quarter results, The company's operating income increased steadily. However, due to factors such as fluctuations in foreign exchange rates, the net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses decreased compared with the same period of last year. The company will gradually adopt foreign exchange funds in the future in combination with the fund management model and daily business needs. Derivatives to avoid exchange rate risk, thus effectively managing the impact of exchange rate fluctuations on company performance.

According to the analysis of brokerages, WuXi PharmaTech, as one of the world's largest pharmaceutical R&D service platforms, provides one-stop services for the discovery, screening, clinical research, production and other industrial chain of innovative drugs, which not only improves the research and development efficiency of multinational pharmaceutical companies. At the same time, with the help of China's innovative drug policy dividends, the pace of development of the domestic innovative pharmaceutical industry has been promoted. The pharmaceutical R&D outsourcing service industry is at a high-speed development stage. It is expected that the company will benefit from the rapid development of the industry and its future performance will grow steadily.

Mingde Bio is mainly engaged in the independent research and development, production and sales of POCT rapid diagnostic reagents and rapid testing instruments. The revenue in 2017 was 165 million yuan, up 17.13% year-on-year; the net profit was 65.492 million yuan, up 9.72% year-on-year. Cardiovascular and cerebrovascular diseases POCT reagents and infectious diseases diagnosis POCT reagents, accounting for more than 90% of total revenue.

In the first quarter of 2018, Mingde Biotech's revenue was 37.82 million yuan and net profit was 13.62 million yuan. It is understood that the company currently has more than 30 diagnostic reagents, including NT-proBNP detection kit, cTnI single/co-test kit and The PCT test kit is its core product.

In the future, Mingde Bio will accelerate the research and development of tumor screening series and other rapid diagnostic reagents based on core superior products, and further extend the POCT product line.

However, after the A-shares 'this road is nowhere', many pharmaceutical companies have taken a different approach and set off a wave of IPOs to Hong Kong. In 2018, the Hong Kong stock market ushered in major reforms, the listing threshold was relaxed, and the IPO new regulations allowed unprofitable creatures. Pharmaceutical companies went public in Hong Kong. After the official implementation of the New Deal, biopharmaceutical companies set off to go public in Hong Kong.

According to the data, two biopharmaceutical companies have confirmed the listing of Hong Kong stocks, one is Fussen Pharmaceuticals listed on July 11, and the other is Goethe Pharmaceuticals, which will be launched on August 1. In addition, on July 24, Baekje Shenzhou passed At the hearing of the listing, there are currently seven biopharmaceutical companies submitting prospectuses and are awaiting listing hearings.

According to industry insiders, Hong Kong stocks have relaxed their listing conditions after the implementation of the New Deal. This makes the Hong Kong stock market likely to become a gathering place for global biopharmaceutical companies. Although the industry has great potential, the investment risks brought by its uncertainties are not small. watch for.