187 pharmaceutical companies announced net profit in the first half of the year

Medical Network August 8th

Among the pharmaceutical companies that have published the semi-annual report for 2018, Jichuan Pharmaceutical's performance is the most eye-catching, with revenue of 3.804 billion yuan, up 35.36% year-on-year; net profit of 843 million yuan, up 44.81% year-on-year; gross profit margin as high as 84.72% .

For the growth of performance, Jichuan Pharmaceutical said that it was mainly because the company's sales of Pudi Lan Xiaoyan Oral Liquid, Pediatric Qiqiao Qingre Granules, and iron protein succinate oral solution increased rapidly during the reporting period, and the company's sales expenses and management expenses. Growth is effectively controlled.

It is understood that Jichuan Pharmaceutical drug The product line mainly focuses on pediatrics, breathing, digestion and other fields. The main products are Pu Di Lan Xiaoyan Oral Liquid, Rabeprazole Sodium Enteric-coated Capsule, Pediatric Qiqiao Qingre Granules, etc. In addition to the pharmaceutical business, its subsidiary Pudi Lan Daily Chemical Co., Ltd. Puli Blue Cosmeceuticals is mainly engaged in the business of daily chemical products such as Pluto Bluetooth Paste, Cosmeceuticals, etc. Health care products business.

List of 28 A-share pharmaceutical companies' performance in the first half of 2018 (Unit: 100 million yuan)

In the first half of the year, Kelun Pharmaceutical's revenue reached 7.792 billion yuan, up 57.68% year-on-year; net profit was 774 million yuan, up 202.17% year-on-year. Revenue growth was mainly due to the company's efforts to strengthen market development and continuous optimization of product structure to increase the production revenue. The subsidiary Yili Chuan Ning Biotechnology Co., Ltd. has gradually achieved full production capacity. The net profit growth is mainly due to the company's efforts to strengthen market development and continuous optimization of product structure, sales volume of infusion and non-infusion preparation products and sales revenue continue to grow; Yili Chuaning capacity release, on In the half year, the company gradually achieved full production, with revenue of 1.645 billion yuan, a year-on-year increase of 69.69%, and a net profit of 350 million yuan, a year-on-year increase of 548.06%. enterprise Shi Si Pharmaceutical Group's investment income increased, marketing reduced intermediate links and so on.

According to the analysis of brokerages, Colon Pharmaceutical's formulation products are gradually enriched and will effectively boost performance. Since the beginning of 2018, Kelun Pharmaceutical has obtained dexmedetomidine, zoledronic acid, and fat emulsion (10%) / Amino acid (15) / glucose (20%) injection, amino acid glucose injection production batch, escitalopram oxalate tablets passed the generic consistency evaluation, recently, recombinant human thrombopoietin peptidomimetic-Fc fusion protein for injection Approved for clinical, etc., with the advancement of research and development and the successive listing of products, it provides a strong guarantee for the company's performance growth.

According to the performance report, Shanghai Lai's revenue in the first half of the year was 961 million yuan, up 10.77% year-on-year; the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 305 million yuan, an increase of about 12.30% year-on-year; Affected by market fluctuations, large losses occurred. The gains and losses from changes in fair value and investment income from securities investment in the first half of the year totaled -17.8 billion yuan, a decrease of 1.769 billion yuan year-on-year, resulting in net profit attributable to shareholders of listed companies in the first half of 2018. The loss was 855 million yuan, a year-on-year decrease of 220.64%.

In fact, as early as July 14, Shanghai Lai Shi released the 2018 semi-annual performance forecast amendment announcement, the previous estimated loss of 440 million to 650 million yuan, the revised estimate is expected to lose 660 million to 870 million yuan, while the profit of the same period last year 7.1 billion yuan. For the reasons for the performance correction, Shanghai Lai Shi said in the announcement that due to the impact of the securities investment business, the company's semi-annual performance loss in 2018 exceeded the original expected range. On July 18, the Shenzhen Stock Exchange management of small and medium-sized companies The Ministry issued a letter of concern to explain whether the internal control system of securities investment is operating effectively and whether there is uncertainty in its continued profitability. On August 7, Shanghai Lai Shi issued an announcement to respond to the letter of concern. Internal control and operation of the investment, Shanghai Lai Shi said that since the company's venture capital investment, the relevant investment review process is complete, the investment decision is prudent, the internal approval process of the relevant securities investment is legal and compliant, and the internal control system is effectively operated.

In this regard, some insiders pointed out that while listed companies rely on the growth of investment income performance, if the company relies too much on investment income or risk exposure, investment losses will also lead to a sharp decline in current performance. Shanghai Lai is currently in a major During the period of asset restructuring and suspension, such loss is under the favorable hedge of asset restructuring, and it is still unclear how the stock will perform after the company's stock resumption.

According to the US Health Report, the revenue in the first half of the year was 3.49 billion yuan, up 57.66% year-on-year; the net profit was 167 million yuan, up 998.00% year-on-year. Mei Nian Health said that the performance growth is mainly: With the national preventive medicine The implementation of the pound policy and the upgrading of health consumption, the market demand for the health checkup industry is strong, showing a blowout trend. In the first half of 2018, the company's scale continued to expand, while continuously consolidating and developing the group inspection market, actively expanding the inspection and value-added services. Market. The product connotation is further expanded, the quality service is upgraded, and new high-end medical products such as genetic testing, early tumor screening, coronary magnetic nucleus and liver super-injection have been launched. The income has maintained rapid growth, the proportion of individual inspections has continued to rise, and the product structure continues to be optimized. Really increase the volume and price, further increase the profits of listed companies, and continuously enhance the company's core competitiveness.

However, it is worth noting that in the near future, the health of the 'fake doctors' incident in the United States has been on the rise. On August 6, the US Announcement of Health announced that it received the notice of rectification of the Tianhe District Health and Welfare Bureau of Guangzhou. Point out that the integrity of the medical industry makes medicine The sector is considered a 'minefield' and will, to a certain extent, lead to the withdrawal of funds from pharmaceutical stocks.

List of 134 A-share pharmaceutical companies in the first half of 2018

Xinhecheng is a company engaged in the production and sales of nutritional products, flavors and fragrances, new polymer materials and APIs. The main products include vitamin E, vitamin A, vitamin D3, biotin, etc. The revenue in 2017 was 6.235 billion yuan. The year-on-year growth was 32.77%; the net profit was 1.704 billion yuan, up 41.72% year-on-year. The net profit in the first half of 2018 is expected to be between 2.022 billion and 2.197 billion yuan, an increase of 245%-275%, that is, the net in the first half of this year. The profit has exceeded the full year of 2017.

Xinhecheng predicted the first half of the year when the first quarter report was disclosed. The net profit was 2.227 billion-25.20 billion yuan. On July 3, Xinhecheng released the 2018 semi-annual performance forecast announcement, with an estimated net profit of 2.022 billion. -21.97 billion yuan. Compared with the previous one, the reason for the performance correction, Xinhecheng said that due to the decline in the sales price of the company's vitamin E, the gross profit margin of the product decreased, resulting in the semi-annual net profit did not meet expectations.

Since the exposure of the longevity biological vaccine incident, the continuous limit mode has been opened, and some fund companies have lowered their valuations to 0 yuan. The pharmaceutical sector has fallen to a market value of more than 100 billion yuan in a week. Some analysts pointed out that the pharmaceutical industry will not One or two things will affect the development of the industry. At present, the pharmaceutical sector has a large increase in the leading enterprises, which are quality standards. There should be no major correction. In the long run, the overall sector is still a steady upward trend, and rigid demand. Still, the performance is more stable. So, what do brokers think about the pharmaceutical industry in the second half of the year? Where will the investment wind blow? Perhaps in some brokerages' investment strategies, we can see the clues.

Looking for a flow import company in the pharmaceutical industry. To find certainty in the uncertainty of the pharmaceutical industry, the most important thing is to find a 'flow entry' type of company. The flow of medical industry is divided into talent flow and patient flow. Talent flow: Supply of innovative projects. Keeping follow-on innovations abroad requires the flow of research and development talents (Hengrui Medicine, WuXi PharmaTech, Kailaiying) and the flow of innovative medicine projects (Tiger Medicine). Patient Flow: Tightening Patient needs: with coverage across the country hospital Sales network (Huadong Medicine, Tonghua Dongbao, etc.); chain OTC pharmacy (Yifeng pharmacy, ordinary people, Yixintang, Dashenlin); medical service institutions (Aier Ophthalmology, Tongce Medical, International Medicine, etc.).

China's pharmaceutical industry 'scatter, chaos, barbaric growth' has passed. Since 2015, the State Council, the Food and Drug Administration, the Health Planning Commission and other ministries have jointly adopted a series of strong reform measures, the effect is prominent, the industrial structure upgrading trend is obvious, the pharmaceutical industry It has entered a new era of sustainable and healthy development, and a new cycle. The current investment direction of the pharmaceutical sector is already in the forefront, and the direction is becoming clearer. Based on the main line of 'innovation + upgrade', the second half of 2018 will recommend Kanghong Pharmaceutical, Xinlitai, Tonghua Dongbao. , Antu Bio, Lepu Medical, Yifeng Pharmacy, Dashenlin, Yixintang, Shanghai Pharmaceutical, Runda Medical, Aier Ophthalmology, Yunnan Baiyao, Tong Ren Tang, Pien Tze Huang, Changchun High-tech.

Source: Oriental Fortune Network, Announcement of Listed Companies, Shen Wan Hongyuan, Everbright Securities, etc.