CXO track is not fragrant anymore?

In recent days, Hillhouse, known as the "sacred hand of investment in the pharmaceutical industry," has attracted attention for its operations on the popular track, reducing its holdings of half of the shares of Calaiying

Kailaiying was hugely lightened

The popular track is not fragrant anymore?

On August 16, the leading domestic CDMO stock-Calais suffered a flash crash.

Source: Jiufang Smart Investment

According to Frost&Sullivan data, Calais is the world's fifth-largest innovative drug raw material drug CDMO company, occupying about 1.

Wind data shows that the cumulative increase since Kailaiying's listing has been as high as 2398.

On the evening of August 15th, Kailaiying issued a semi-annual report showing that during the reporting period, the company achieved total operating income of 1.

Regarding the semi-annual report of Kailai Ying, the industry believes that the year-on-year growth rate of Kailai Ying’s non-net profit is lower than expected

In addition, the reduction of capital holdings of Calais is also one of the reasons for its share price decline

It is well known in the industry that Hillhouse believes in the logic of value investment: "find the best company and be a friend of time"

In addition, some people believe that the current dynamic P/E ratio of Calais is 103.

Hillhouse announces US stock positions in the second quarter

BeiGene is the No.

Among Hillhouse's 89 holding companies, companies in the life sciences field account for nearly half, and BeiGene is still the largest holding company

Source: Wall Street

In the second quarter, Hillhouse continued to hold heavy warehouses in BeiGene and Tianjing Biology

It is worth noting that in the previous 9 rounds of financing of BeiGene, there are also many well-known domestic and foreign institutions such as Hillhouse, Morgan Stanley, and Goldman Sachs.

BeiGene is known as the "burning king" in the industry.

In contrast, BeiGene's annual losses are 537 million yuan, 4.

BeiGene, which has been spending money on research and development, has also ushered in gains.
At present, there are three self-developed commercial products, namely BTK small molecule inhibitor Baiyueze, PD-1 monoclonal antibody Baizian and PARP inhibitors.
Parkway Ze
.
At the same time, BeiGene, which has already been listed in Hong Kong and the United States, plans to land on the Science and Technology Innovation Board this year
.
At the end of July, BeiGene's IPO was submitted for registration on the Science and Technology Innovation Board, which is close to the listing
.

Hillhouse continues to maintain a strong presence in Tianjing Biology.
Founded in 2016, it focuses on the research and development, production and commercialization of innovative and innovative biologic drugs for tumor immunity
.
In January 2020, Tianjing Bio was officially listed on NASDAQ
.
It is reported that Tianjing Biology adopts License-in+ independent research and development and innovative two-wheel drive mode for pipeline layout
.

Currently, Tianjing Biologics has 3 products undergoing registered clinical trials, 19 phase 1/2 clinical research projects have been initiated or about to be launched in China and the United States, and 4 products are in the preclinical research stage
.

It is worth noting that in September 2020, Tianjing Bio and AbbVie jointly announced the establishment of an extensive global strategic partnership on the development and commercialization of the innovative CD47 monoclonal antibody lemzoprlimab (TJC4) independently developed by Tianjing Bio.
Tianjing Bio will Obtained a total of US$1.
94 billion in installment milestone payments and a double-digit percentage of tiered royalties in future global sales
.

Although Tianjing Bio has not yet launched any products, its 2020 financial report shows that the net profit attributable to ordinary shareholders of the parent company is 471 million yuan, a year-on-year profit; operating income is 1.
543 billion yuan, an increase of 5042.
23% year-on-year
.
A few days ago, Tianjing Biological officials announced that the company’s board of directors approved the preliminary plan for a dual listing of new shares and a dual listing on the Science and Technology Innovation Board of the Shanghai Stock Exchange on July 27, 2021
.