Data show that as of 17:00 on July 25, 111 A-share pharmaceutical enterprises disclosed the first half of 2022 performance forecast, nearly 50% of the companies to achieve net profit year-on-year growth. Among them, CXO (pharmaceutical outsourcing services), medical devices, traditional Chinese medicine and other subsectors of the company's performance is bright. Institutions are optimistic about the performance of innovative drug industry chain and consumer health care and other areas of business performance in the second half of the year.
45 pharmaceutical companies net profit of more than 100 million yuan
The above 111 pharmaceutical companies, 54 are expected to realize net profit year-on-year growth. From the lower limit of the net profit forecast increase, there are 26 companies with double the rate of increase. Among them, Boten shares and other 6 companies are expected to net profit year-on-year growth in the lower limit of more than 4 times.
From the scale of earnings, 45 pharmaceutical companies net profit lower limit is expected to exceed 100 million yuan, of which 13 are expected to earn more than 1 billion yuan. JiuAn medical, WuXi KangDe with 15.1 billion yuan, 4.636 billion yuan respectively, the lower limit of the forecast net profit ranked first.
Pharmtec expects to realize operating income of 17.756 billion yuan in the first half of the year, an increase of 68.52% year-on-year; realize net profit of 4.636 billion yuan, an increase of 73.29% year-on-year. WuXi AppTec said that the company continues to strengthen the integrated CRDMO (contract research, development and production) and CTDMO (contract testing, research and development and production) business model, giving full play to the advantages of the global layout, multi-location operation and full industry chain coverage, timely formulation and efficient implementation of the business plan, to ensure that the overall performance targets are reached. Based on its performance in the first half of the year and its confidence in future development, WuXi AppTec raised its full-year revenue growth target for 2022 from 65%-70% to 68%-72%. The company reminds that this operating income outlook is forecasted based on its current orders on hand, and is premised on the stable development of the global pharmaceutical industry, etc. Whether it can be realized depends on a variety of factors such as changes in internal and external environments, and is subject to greater uncertainty.
Segmented industry performance is bright
From the point of view of subsectors, the first half of the performance of the pharmaceutical companies in the forecast is mainly concentrated in the CXO, medical equipment, traditional Chinese medicine and other fields.
CXO industry overall performance bright. Boten shares, Kelaiying, Zhaoyan new drug performance rose to the forefront, forecast net profit year-on-year growth in the lower limit of more than 120%.
Kelaiying is expected to achieve net profit of 1.644 billion yuan to 1.743 billion yuan in the first half of the year, an increase of 282.99% to 305.79% year-on-year; Boten is expected to achieve net profit of 1.191 billion yuan to 1.212 billion yuan, an increase of 455% to 465% year-on-year. Both companies said that by the release of production capacity and the smooth delivery of major orders, its profitability continues to improve. It is worth noting that the second-quarter net attributable profit of many companies, including Boten, WuXi AppTec, Kelaiying and Jiuzhou Pharmaceuticals, is expected to hit a single-quarter record high.
Deppon Securities said CXO companies benefited from the wave of domestic innovative drug research and development, is growing rapidly, and occupies an important position in the global supply chain system. Zheshang Securities believes that, based on the domestic demand for multi-level, supply scarcity and other long-term boom logic, optimistic about the growth of CXO in the pharmaceutical sector scarcity.
Medical device plate more than 60% of the companies to realize profits. In the 20 medical device companies have disclosed results forecast, there are 11 companies are expected to first-half net profit of more than 100 million yuan. Among them, Kaili Medical is expected to realize net profit of 160 million yuan to 200 million yuan, an increase of 46.72% to 83.4% year-on-year. The company said, benefited from the domestic hierarchical diagnosis and treatment, medical new infrastructure, encourage the procurement of domestic equipment and other policies to bring the positive impact of the company's ultrasound business revenue grew steadily, endoscopy equipment business revenue to maintain a higher growth rate.
Open Source Securities believes that the medical device new infrastructure continues to promote the release of diagnosis and treatment demand, superimposed on the policy support, optimistic about the medical device plate comprehensive recovery growth. Pacific Securities expects the future of China's medical device industry is expected to continue to maintain a high growth trend, is expected to 2020 to 2030 period of average annual compound growth rate will reach 11.2%.
Institutions piled up research
Data show that since July, A-share 45 pharmaceutical enterprises were institutional research, mainly concentrated in the field of medical services, medical devices and traditional Chinese medicine. Among them, Kaili Medical, Aier Eye, Kanglong Huacheng and other companies have accepted more than 20 institutions research.
From the policy aspect, the National Health Insurance Bureau issued the Notice on Further Improving the Management of Medical Service Prices on July 19, focusing on supporting medical technology innovation based on clinical value. July 21, the National Health Commission and other eleven departments jointly issued the Guiding Opinions on Further Promoting the Development of Health Care Integration to promote the development of the intelligent healthy aging industry, medical service industry and medical device industry. industry development.
Zhejiang Securities believes that good policies in the field of medical services are frequent, pay attention to the service side of the high-quality supply, good innovative diagnostic and treatment equipment, innovative surgical methods, innovative high-value consumables, medical services sector, with innovative technology platforms, product iteration capabilities, high-quality health care resources are expected to benefit the company. In the process of upgrading the pharmaceutical industry, pharmaceutical innovation and upgrading supporting industry chain areas are expected to usher in a more certain high boom stage from 2022 to 2024.
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