Six new third board pharmaceutical companies with a net profit of over 100 million

[market analysis of chinapharma.com] for most people, the new third board in 2016 is a situation of stricter supervision and sluggish market However, among the new three board pharmaceutical enterprises published in 2016 annual report, there are six pharmaceutical enterprises whose net profit has exceeded 100 million yuan Among them, Chengda bio's net profit was large, reaching 457 million yuan, accounting for more than 44% of the revenue; Yuxing bio's net profit increased greatly, accounting for 110.95% year-on-year (performance dazzling six new third board pharmaceutical companies with net profit exceeding 100 million picture source: Baidu picture) 1 Chengda biology: strengthen the research and development of conventional vaccines to resist the risk of single product structure During the reporting period, Chengda biology achieved operating revenue of 1.029 billion yuan, up 9.14% year on year; net profit of 457 million yuan, up - 0.14% At present, the main business income mainly comes from the production and sales of human rabies vaccine In 2016, the proportion of human rabies vaccine income was 95.15% The R & D investment is 59 million yuan, accounting for 5.72% of the operating revenue For adult biology, a single product structure will lead to the loss of market share and continuous operation problems once the market fluctuates or competitors produce higher quality human rabies vaccine Although Chengda biology actively carries out the research and development of new products, the vaccine research and development cycle is long After the successful product research and development, it will take a long time from application registration to new product marketing During this period, there are still risks brought by single product structure In 2016, China fully implemented the two child policy, effectively expanding the market demand for human JE inactivated vaccine At present, Chengda biology will vigorously promote the sales of JE vaccine, and strengthen the research and development of other conventional vaccines The bivalent hemorrhagic fever with renal syndrome vaccine (Vero cell), which is independently developed, is preparing to apply for production number The diploid hepatitis A vaccine has been approved for clinical trials of drugs In the future, the variety of large biological products will be gradually enriched 2 Hequan pharmaceutical: 7 production workshops with differentiated configuration, covering various customized production needs Hequan pharmaceutical is committed to technological innovation and commercial application of global pharmaceutical technology, providing outsourcing services for international mainstream pharmaceutical enterprises in R & D and production of innovative drugs The scope of services mainly covers process R & D and preparation in clinical stage of new drugs, process optimization and large-scale production in commercialization stage of listed drugs, and provides an integrated open technology platform for customers The market of pharmaceutical R & D outsourcing service has continued to develop, and the market has a rising demand During the reporting period, the operating revenue of Hequan Pharmaceutical Co., Ltd was 1.638 billion yuan, up 29.07% year-on-year; the net profit was 436 million yuan, up 32.01% year-on-year Driven by strong demand, the company's operating revenue will maintain stable and rapid growth The competitive advantage and brand effect of Hequan pharmaceutical industry in cdmo industry are increasing year by year, and it continues to obtain service orders As of December 31, 2016, it has 130 doctors, 731 masters and 19 inventions With a strong R & D team and continuous R & D investment, Hequan pharmaceutical has formed a strong technical competitive advantage in the field of chemical pharmacy Hequan Pharmaceutical Co., Ltd is a pharmaceutical customized R & D and production service outsourcing enterprise which has obtained the approval of FDA innovative drug application It fully embodies its strong technical R & D and production service strength At present, Hequan pharmaceutical has 7 production workshops with differentiated configuration, which can cover all kinds of customized production needs from GMP products to non GMP products, from clinical stage to commercial production stage III Yuxing biology: the net profit of Yuxing biology, with the increase of 110.95%, is mainly engaged in the R & D, production and sales of vitamin B12 and related extension products Main products include: feed additives, APIs (vitamin B12, Mecobalamin, hydroxycobalamin, adenosine cobalamin), food additives (vitamin B12, Mecobalamin, hydroxycobalamin) As a leading enterprise in the industry, Yuxing biological has maintained a good business performance, with its operating revenue and profit increasing for three consecutive years During the reporting period, the operating revenue reached 891 million yuan, an increase of 377 million yuan or 73.3% over 514 million yuan in the same period of last year The net profit was 229 million yuan, an increase of 121 million yuan, or 110.95%, compared with 108 million yuan in the same period of last year, thanks to the increase of sales price of main related products In 2016, R & D investment amounted to 25.49 million yuan, a year-on-year increase of 38.74%, accounting for 2.86% of its operating revenue As of December 31, 2016, the company has obtained 71 items, of which 2 items are inventions, providing guarantee for the future development of the company Yuxing biological core technology is the output ratio of unit feeding products, so it is very important to improve the technology of fermentation unit The fluctuation of raw material price is bound to affect the operating cost of the enterprise and then affect the profit level of the enterprise Therefore, we should carry out technological innovation through research and development, increase the output ratio of unit feeding products, improve production efficiency and reduce production costs, so as to enhance the competitive advantage of enterprises IV Changjiang medicine: plant hollow capsule will replace gelatin and win market share Changjiang medicine's main business is medicinal hollow capsule Its subsidiary "Changjiang source" is mainly engaged in the production and sales of Chinese herbal pieces and functional drinks such as honeysuckle flower dew and chrysanthemum dew; The subsidiary "Changjiang Feng" is mainly engaged in the wholesale sales of drugs, health food and medical devices During the reporting period, Changjiang pharmaceutical realized operating revenue of 966 million yuan, an increase of 30.48% over the same period of last year, and net profit of 181 million yuan, an increase of 31.59% over the same period of last year The revenue of medicinal capsule is 63 million yuan, accounting for 6.52% of the business revenue; the revenue of herbal pieces and functional pieces is 674 million yuan, accounting for 69.77% of the business revenue; the revenue of pharmaceutical wholesale is 227 million yuan, accounting for 23.49% of the business revenue As one of the basic pharmaceutical excipients, strengthening the quality control and tracking in the production process of hollow capsules will have the opportunity to bring more market share to Changjiang pharmaceutical At present, in addition to gelatin hollow capsule, Changjiang pharmaceutical has launched a new product plant capsule, which has applied to the State Food and Drug Administration for the approval number of plant hollow capsule In the next two years, plant capsule will completely replace gelatin hollow capsule, with a huge market prospect Yangtze River medicine has 7 items In the future, Yangtze River medicine will form a new pattern with traditional Chinese medicine industry as the core industry, supplemented by five business areas, i.e medical capsule, plant functional beverage, modern medicine intelligent logistics and medicine chain retail V kofipin: through the integration of new drug R & D products to reduce the impact of financial subsidies on profits, kofipin focuses on the innovation and imitation of new drugs in the cardio cerebrovascular field During the reporting period, the company's main revenue was 1.251 billion yuan, down 5.05% year on year, and its net profit was 125 million yuan, up 17.79% year on year In addition to the market capacity of indications, the drug demand mainly depends on the efficacy of the drug and the doctor's cognition of the drug Therefore, the professional and academic promotion mode is mainly used as a means to achieve the sales goal Through the combination of endogenous R & D and extended M & A, optimize and adjust the product structure, and form three major sources of profit contribution for the company, i.e the self owned variety (naomaili granules) and the national general generation variety nuoxinkang and oxidized camphor injection Kefeiping adheres to the business philosophy of R & D driven and technology, and has invested more than 145 million yuan in R & D and intellectual property in the past five years By the end of 2016, the company had 43 inventions and obtained 4 major national science and technology projects Cofipin has a deep accumulation in the field of natural product source innovative drugs It has successively developed 1.1 new drugs, such as argalactone mesylate B, 5 new drugs of traditional Chinese medicine, such as general sterone capsule of Cimicifuga, and cultivated dozens of inventions in this field In 2016, 2015 and 2014, cofipin received government subsidies of 36.9669 million yuan, 55.5414 million yuan and 50.0395 million yuan respectively, accounting for 24.99%, 39.99% and 41.60% of the total profits of the current period Government subsidies constitute an important source of the company's profits and have a great impact on the company's performance If the government's financial subsidy policy changes, it will have a certain impact on the company's profit level Through new drug research and development, new drug agency, product integration and other ways, adjust the profit structure, so as to reduce the impact of financial subsidies on profits Vi Yuanhe pharmaceutical industry: the new park is put into use, and the processing and production sources and pharmaceutical industry that can meet the main business increment in the next 10 years are positioned as a high-tech enterprise in the whole industry chain integrating the real estate Chinese herbal medicine planting, Chinese herbal medicine processing, Chinese herbal medicine extraction, preparation production, health care flower tea production and sales, Its main business includes the production and sales of Chinese herbal pieces, Chinese patent medicines and the trade of Chinese herbal medicines During the reporting period, Yuanhe pharmaceutical industry realized operating revenue of 1.102 billion yuan, an increase of 51.56%; net profit of 101 million yuan, an increase of 27.27% over the same period last year The main reason is that the company's new park is officially put into use With the increase of production capacity and the optimization of customer groups, the operating revenue has increased significantly compared with the previous year In May 2016, the company's new park was officially put into use The new park covers an area of 182 mu At the beginning of the planning, the park is designed and arranged based on the principles of full coverage of processing varieties, modernization and standardization of processing technology, high quality of herbal tea and fine powder, large-scale pharmaceutical logistics and distribution, and clean and low energy consumption The completed new park can meet the company's main business incremental processing and production in the next 10 years Through the layout of upstream and downstream industries in traditional Chinese medicine slice industry, the business model of planting purchase production quality inspection sales research and development, the main business income of traditional Chinese medicine slice accounted for about 94.69% in 2016 The main raw materials of the company's products are Chinese herbal medicines The price of the raw materials of Chinese herbal medicines is vulnerable to the impact of supply and demand, natural climate, major epidemics, etc., and the price fluctuation will have a direct impact on the company's production cost and operating profit Yuanhe Pharmaceutical Co., Ltd cooperates with Zhejiang University Medical College, China Pharmaceutical University, Hefei Tianyuan Institute of biology and other universities and institutions to develop new products and processes, including research on formula granules, deep development of saffron, automatic production line of traditional Chinese medicine, new processing methods, etc More efforts have been made to invest in the research and development of particle formula More than 550 kinds of particle formula have been completed and declared in the whole year It is expected to use the whole industrial chain and scale effect to rapidly expand the market of formula particle and bring new performance growth points Conclusion: the traditional leading companies in the pharmaceutical industry have basically landed in the A-share market and overseas market, while many companies devoted to the research and development and application of new technology are still in the early stage, with small scale and profit, and a large number of such companies appear in the new third board, so the pattern of the new third board represents the development of the pharmaceutical industry in the future Each subdivision field has its own leading position, and once the leading position is formed, the market position will be relatively stable The "two eight effect" of the new third board enterprises (the first 20% of the enterprises hold 80% of the investment in the new third board) further explains the market rule of the stronger (data source: annual report of Dongfang fortune and new third board company)