The crisis is behind an eight-fold jump in share prices and a 115.51 per cent rise in profits.

Introduction: 17 bio-vaccine enterprises half-yearly report announced, Kanghua performance greatly increased! On August 24, Chengdu Kanghua Biological Products Co., Ltd. ("Kanghua Biologicals") released its 2020 Half Annual Report.
the semi-annual report, Kanghua Bio achieved revenue of RMB455 million in the first half of 2020, up 67.97 percent YoY, and net profit of RMB183 million, up 115.51 percent YoY.
Relying on the freeze-dried human rabies vaccine (human double body cells) and ACYW135 group meningococcal polysaccharide vaccine, Kanghua Bio landed on the GEM on June 16, 2020, and its share price soared from 70.37 yuan to 608.02 yuan, up 764% from the offering price.
Kanghua Bio said that the main reason for the first half of the bright performance is the core product freeze-dried human rabies vaccine (human double body cells) product sales increased, but the overview of the semi-annual report, you can find that the rapid growth of performance behind three key words: increased production capacity, marketing strengthening, high gross margin.
capacity increase, marketing and research and development strengthening, high gross margin, revenue growth Currently Kanghua focuses on relying on human secondary cell rabies vaccine and ACYW135 group meningococcal polysaccharide vaccine two types of vaccine to achieve revenue.
according to its prospecto, Kanghua Bio has introduced that in recent years, China's rabies vaccine issued a total of 60 million to 80 million units, the annual output value remained between 3 billion and 5 billion yuan.
market share of canine vaccines is high.
2017, 2018 and 2019, the batch issuance volume of rabies vaccine (human secondary cells) for freeze-dried people was 9951 million doses, 2.2321 million doses and 2.377 million doses, and the proportion of batch issuance was 1.28%, 3.34% and 4.04%.
's main product, human double-body cell rabies vaccine, began to contribute sales revenue to Kanghua Bio in 2014, and in 2017-2019, the vaccine's sales revenue was RMB241 million, RMB 551 million and RMB 538 million, respectively, accounting for about 90% of Kanghua Bio's revenue during the same period.
, whether it's rabies vaccines with high sales revenue or brain-flow vaccines, there has been a significant increase in the number of issues compared to the market share in 2019, coupled with the expansion of marketing pipelines.
first half of this year, Kanghua Bio's sales and research and development expenses increased by 50% and 226.39 percent year-on-year, respectively.
can be seen one hand grasp research and development, one hand grasp sales, both hands should be hard strategy to implement the most vivid.
finally, coupled with its products under the influence of high gross margins, Kanghua bio-revenue want to decline are difficult! The crisis under the bright future, but only to see the bright future of Kanghua creatures, while ignoring the underlying crisis behind it, it is one-sided.
At present, the product structure is relatively not rich is perhaps the biggest problem of Kanghua biological, the main business products include freeze-dried human rabies vaccine (human secondary cells) and ACYW135 group meningococcal polysaccharide vaccine, and the vast majority of income depends on freeze-dried human rabies vaccine (human diaphragm cells), the situation of monomuscular difficulties may gradually become apparent in the time after.
At the same time, seven companies have submitted clinical trial applications for human double cytocytosis vaccine, and potential competitors have successfully developed and marketed human double cytocytosis vaccine, which is likely to adversely affect the market share and sales price of Kanghua bio-products.
According to Kanghua Biopowics, the current Beijing Minhai Biotech Co., Ltd.'s freeze-dried human rabies vaccine (human secondary cells) has completed Phase III. Phase III clinical trials;
at least in the foreseeable second half of the year, once similar competition appears in the market, Kanghua Bio's gross margin and market share is likely to face pressure.
vaccine secondary market heat reduction, or will usher in a continuous decline in market value of the world has not been scattered, July's violent pull-up, ushered in August A-share bio-vaccine sector continued to fall, popular enterprises Fosun Pharma, Kantai Bio, Zhifei Bio and other vaccine stocks have ushered in a sharp correction in the share price.
August 4-20, the total market value of 45 bio-vaccine stocks in A-shares evaporated by 225.5 billion yuan, which shows that the current market is generally impetuous, speculation concept-based.
do not know that only the stock price and performance parallel, can go in the longer term.
the heat of the world is now only a bunch of "fat" businesses left behind.
, a total of 17 companies in the A-share bio-vaccine sector have disclosed their semi-annual reports.
overall, the first half of the performance of enterprises is good, including 12 enterprises net profit growth.
At the very least, most bio-vaccines do have a point in terms of performance, and I hope that after this concept hype, the market will be more focused on the comparison between business conditions and core competitiveness, so as to play a solid role in promoting industry innovation."
the accelerated concentration of the domestic vaccine market, making up for the shortcomings is well known, the global vaccine market is more concentrated, GSK, Mercedon, Pfizer and Sanofi four industry giants together accounted for about 82% of the market share.
this, the domestic vaccine market pattern is showing a loose layout, more downstream enterprises, in 2019 China's vaccine market, the market share of the first-ranked Chinese biological share of less than 20%, the lack of leading enterprises feel strong.
, the concentration has accelerated as regulatory requirements for the vaccine industry have tightened.
the scarcity of high-quality head enterprises will be further highlighted if companies that rely on single varieties and lack innovative research and development capabilities are phased out or merged.
is still in an initial acceleration state, and will then face a trend of further concentration.
, the relevant enterprises must make up for the disadvantages of enterprises, in the stable cash flow support, multi-pipeline accelerated, is undoubtedly the most urgent task.
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