Two years after delisting, the pharmaceutical company went to kechuangban to create "Palace Museum lipstick"

[industry trends of pharmaceutical network] at the beginning of December last year, the "Forbidden City lipstick" was highly sought after in the market and once sold out of stock Recently, Huaxi biology, the manufacturer of "palace lipstick" co built with the Palace Museum, went on the scientific creation board two years after the delisting of Hong Kong stock market On the evening of October 22, Huaxi biology disclosed that according to the preliminary inquiry results, the issue price was determined to be 47.79 yuan / share According to the prospectus, Huaxi bio intends to issue 49.5626 million a shares to the public, accounting for 10.33% of the total share capital of the company after the issuance The use of the raised funds will focus on the company's main business, including the upgrading and transformation of the R & D system, the expansion of the production capacity of the existing main business products, and the industrial production of new hyaluronic acid terminal products According to the public data, Huaxi biology is a global leading high-tech enterprise with the production technology of hyaluronic acid microbial fermentation as the core, and its scale of hyaluronic acid industrialization ranks the top in the world The company has been listed on the Hong Kong stock exchange for nine years In 2017, it spent HK $3.129 billion to complete privatization and delisted from the Hong Kong stock exchange Now, two years later, Huaxi biology chooses to hit the science and technology innovation board again Financial data shows that from 2016 to 2018, Huaxi biology achieved operating revenue of 733 million yuan, 818 million yuan and 1263 million yuan respectively, with net profit of 269 million yuan, 222 million yuan and 424 million yuan respectively In addition, in the first half of 2019, Huaxi biology achieved an operating revenue of 809 million yuan and a net profit of 265 million yuan, an increase of 44.33% and 40.22% year-on-year respectively In terms of R & D investment, from 2016 to 2018, the R & D expenditure of Huaxi biology accounted for 3.27%, 3.14% and 4.19% of operating revenue respectively Huaxi biological said that the company focuses on investment in R & D, and the R & D expenditure increases year by year The existing R & D equipment and investment plan provide hardware support for continuous innovation In terms of sales expenses, the company has invested a lot in sales In 2018 and 2019, the company's sales expenses increased year by year In the first half of 2019, the sales expenses reached 199 million yuan, accounting for 24.6% of the total operating revenue It is worth noting that the gross profit margin of Huaxi bio's marketing is higher, but the net interest rate shows a downward trend The prospectus shows that from 2016 to 2018, the gross profit margin of the company was 77.36%, 75.48% and 79.92% respectively The net sales interest rates were 36.75%, 27.17% and 33.56% respectively The industry believes that its high gross profit rate is related to the rapid development of the medical and American industry In fact, compared with peers, the gross profit rate of Huaxi biology is far lower than that of peers According to the data, the global sales volume of hyaluronic acid raw materials reached 500 tons in 2018, with a compound growth rate of 22.8% from 2014 to 2018 It is expected that the high compound growth rate of 18.1% will be maintained in the next five years, and the sales volume may increase to 1150 tons in 2023 As a leading enterprise of hyaluronic acid, Huaxi bio occupies a dominant position in the industry With the further expansion of the application field of hyaluronic acid and the increasing market demand, the market share of Huaxi bio is expected to continue to increase According to frost Sullivan survey report, Huaxi bio occupies nearly 60% of the market share of hyaluronic acid raw materials in China and nearly 40% in the world According to other data, its hyaluronic acid raw material business accounted for 51.6% in 2018 In the prospectus, the company also said it would focus on its main business At present, many institutions are optimistic about the growth momentum of Huaxi biology According to some securities experts, the net profit of Huaxi biology in 2019-2021 will reach 602 million yuan, 793 million yuan and 996 million yuan respectively, up 42.02%, 31.79% and 25.57% year on year.