Beda Pharmaceuticals listed two years of continuous decline in performance, trapped in the "one drug, one big" dilemma?

Beda Pharmaceuticals' two-year listing has repeatedly declined. Recently, Beda Pharmaceuticals' third-quarter 2018 report showed that net profit fell 27.37 percent year-on-year in the first three quarters. China Net Finance reporter combed found that this downward trend from 2017 to date.
third-quarter results showed that Bayda Pharmaceuticals reported revenue of 928 million yuan in the first three quarters, up 20.74 percent from a year earlier, while net profit attributable to shareholders of listed companies was 148 million yuan, down 27.37 percent from a year earlier. As for the reasons for the decrease in net profit in the first three quarters, Beda Pharmaceuticals said it was due to increased investment in research and development of new drugs and amortization of intangible assets.
Pharmaceuticals was listed on the Shenzhen Stock Exchange on November 7, 2016. China Net Financial Reporter combed found that in the year of listing, Beida Pharmaceuticals revenue and net profit continued to maintain double growth, year-on-year growth of 13.16 percent and 6.81 percent, respectively. In 2017, Beda Pharmaceuticals began to "change its face", with revenue of RMB1,026 million, down 0.84% YoY, and net profit of RMB258 million, down 30.12% YoY.
also in 2017, Bayda Pharmaceuticals board member Gao resigned. According to the 2017 Annual Report, the Company's Chief Chemist SHAOJING HU (Hu Yanjing), Vice President Shen Haixuan, Director Sun Zhihong, Supervisor Hu Yunxuan, Director and President YIN WANG XIANG (Wang Inxiang), Director YING DU (Du Ying), Vice President Xu Sulan, Director, Senior Vice President and Chief Medical Officer FENLAI TAN (Tan Fenlai) have all left for personal reasons.
after the personnel turmoil, the half-yearly and third-quarter net profit reported in 2018 remained at a loss. In the first half of 2018, Beda Pharmaceuticals' revenue was RMB581 million, up 16.70% YoY, but net profit decreased by 51.36% YoY to RMB66.6728 million. Revenue and net profit both grew, to RMB346 million and RMB81,086.6 million, respectively, up 28.18 percent and 22.22 percent year-on-year, respectively, but net profit for the first three quarters was still down from a year earlier.
the two-year net profit from listing continue to decline? China Net Finance reporter wrote to Beda Pharmaceuticals, as of the time of writing did not receive any reply. Zhao Heng, a partner at Latitude Health, a medical consultancy, argues that Bayda Pharmaceuticals' product line relies more on existing varieties, which is a problem faced by most innovative drug companies, and that domestic competition and its entry into health insurance are weighing on Beda Pharmaceuticals' profits. Zhao Heng pointed out that Beida Pharmaceuticals "how to enrich their own varieties is very important."
, Ektini is the main source of income for Beda Pharmaceuticals. According to the 2018 half-yearly report, Ektini's revenue was $581 million, or 100% of total revenue. The 2017 report noted that Ektini's revenue was $1,026 million, or 99.96 percent of total revenue, compared with $1,035 million in 2016, or 99.98 percent. (China Net Finance)