In 2006-2014, the performance trend of pharmaceutical listed companies was disclosed!

Source: according to the opinion of the 2015 evaluation expert group, the Southern Institute of pharmaceutical economics defined the listed enterprises whose income from production, sales and drug-related business, medical device production and sales, and medical and health services accounted for more than 60% of the main business income as "listed enterprises in the pharmaceutical sector" As of December 31, 2014, the number of enterprises listed in the pharmaceutical sector of Shanghai and Shenzhen Stock Exchange was 201 (st enterprises have been excluded), with 73 households in East China by region, followed by 31 in North China, and only 5 listed enterprises in Northwest China The distribution of the sector is dominated by the main board, with 101 enterprises in total, accounting for 50.2% of the whole pharmaceutical sector There are 52 on the growth enterprise board and 52 on the small and medium-sized board, respectively 48 The overall performance in 2014 is as follows The growth of income and net profit slowed down from 2006 to 2014 The main business income of China's pharmaceutical listed companies increased from RMB 150.044 billion to RMB 686.917 billion, and CAGR reached 20.94% in 9 years, maintaining a rapid growth momentum Among them, in 2006, the state launched a large-scale anti commercial bribery action against the pharmaceutical industry, which greatly affected the development of the industry Since the 12th Five Year Plan, the growth rate has continued to decline due to factors such as the slowdown of macroeconomic growth, drug price reduction, medical insurance control fees and the continued decline of the growth rate of pharmaceutical exports (see Figure 1) From 2006 to 2014, the net profit of China's pharmaceutical listed companies increased from 6.841 billion yuan to 56.583 billion yuan, with CAGR of 30.23% in 9 years, far higher than the CAGR of main business income in the same period The year-on-year growth rate peaked in 2007, reaching 118.98% In recent years, the growth rate has slowed down, maintained at the level of about 10%-15%, and remained relatively stable at about 16% in 2013 and 2014 (see Figure 2) In recent years, the net interest rate has been relatively stable from 2006 to 2014, and the sales net interest rate of China's pharmaceutical listed companies has remained at the level of 8% - 10% Among them, in 2006, the net sales interest rate of Listed Companies in the pharmaceutical and biological sector was only 4.56% In 2009, it reached its peak in recent years, and since 2012, the net sales interest rate has remained stable (see Figure 3) As of June 5, 2015, the negative growth of net profit CAGR of APIs was 29, 35, 29, 58, 17, 23 and 8 listed pharmaceutical companies that met the selection criteria, mainly engaged in APIs, chemicals, biological products, traditional Chinese medicine (including decoction pieces), pharmaceutical circulation, medical devices and medical services From 2010 to 2014, the main business revenue of the pharmaceutical and biological sector was 18.9% Except for API and chemical industry, the other five industries exceeded the average level of CAGR, with a net profit of 14.1% The industry situation was consistent with the revenue, and the net profit of API industry in the past five years was - 5.4%, showing a negative growth In terms of proportion, the pharmaceutical circulation industry has become the main contributor to the income of the pharmaceutical biological sector, accounting for 40.7% of the total, while the proportion of net profit is concentrated in the traditional Chinese medicine industry, accounting for 39.1% The year-on-year growth rate of main business income of each sub industry in recent five years shows that the growth rate of medical service is obvious, and the growth rate in 2014 is soaring to 43.6%, showing an overall upward trend Chemical APIs fell from 29.8% in 2010 to 4.3% in 2014 The growth rate of chemical preparations and traditional Chinese medicine also decreased to varying degrees (see Figure 4) In recent five years, the growth rate of the net profit of each sub industry shows that the growth rate of medical service has increased the most In 2014, the growth rate has soared to 46.92%, showing an overall upward trend Chemical APIs showed negative growth in 2011-2013, and the growth rate of medical commercial net profit decreased significantly from 82.15% in 2010 to 19.77% in 2014 (see Figure 5) The proportion of chemical medicine gradually decreased from 2010 to 2014 The main business income of the sub industry accounted for the largest proportion in the medical and biological sector, followed by the traditional Chinese medicine industry, and the medical service industry accounted for the smallest proportion From the perspective of trend, the proportion of traditional Chinese medicine, biological products and medical devices has an increasing trend, while the proportion of chemical APIs, chemicals and other industries has decreased (see Figure 6) In 2010-2014, the largest proportion of the net profit of the sub industry in the pharmaceutical and biological sector was the traditional Chinese medicine industry, followed by the chemical industry, and the smallest proportion was the medical service industry From the perspective of trend, the proportion of traditional Chinese medicine, biological products and other industries has an increasing trend, while the proportion of chemical APIs, chemical agents and other industries has decreased (see Figure 7).