On February 15, covid-19 testing leading enterprise Beijing Hotgen Biotech Co.Ltd(688068) (688068, SH) announced that it planned to jointly invest 50 million yuan with the company’s actual controller Lin Changqing and the employee stock ownership platform Beijing Yaojing enterprise management center (limited partnership) to establish a holding subsidiary Beijing Yujing Pharmaceutical Co., Ltd. (hereinafter referred to as Yujing pharmaceutical, and the final name shall be subject to industrial and commercial registration) to explore the research and development of live bacteria drugs.
Due to the increased demand for covid-19 antigen detection kit at home and abroad, in the first three quarters of 2021, Beijing Hotgen Biotech Co.Ltd(688068) achieved a revenue of 3.796 billion yuan, a year-on-year increase of 2508.41%. At the same time, in order to expand the global layout, Beijing Hotgen Biotech Co.Ltd(688068) announced that it plans to set up a wholly-owned subsidiary of hot view health Co., Ltd. (hereinafter referred to as hot view health) in the United States with its own capital of US $5 million.
set up subsidiaries with actual controllers to explore new business
The announcement shows that Yujing pharmaceutical will focus on the research and development of live bacteria drugs in the future, study the polymorphism of microbial flora, the molecular mechanism of host microbial interaction, use live bacteria for biotherapy, and focus on intestinal microorganisms and a variety of metabolic and immune diseases.
Beijing Hotgen Biotech Co.Ltd(688068) is a biological high-tech enterprise engaged in the R & D, production and sales of in vitro diagnostic reagents and instruments. Its main products are divided into in vitro diagnostic reagents and instruments, which are widely used in clinical fields such as liver cancer, hepatitis, cardiovascular and cerebrovascular diseases, inflammation and infection, as well as public safety and other fields such as biosafety, food safety, disease control and emergency response.
From diagnosis to treatment, the business span of the proposed holding subsidiary is not small.
In this regard, Beijing Hotgen Biotech Co.Ltd(688068) said that this move can further optimize the company’s business structure and enhance the company’s sustainable competitiveness. In addition, the newly established holding subsidiary can share investment risks and realize corresponding incentives through the participation of actual controllers and key managers.
The reporter of the daily economic news noted that Beijing Hotgen Biotech Co.Ltd(688068) had previously said that there were many similar or similar competitive products in the covid-19 antigen detection reagent market, and there was a risk of fierce market competition in the sales of the company’s products.
According to the annual report, Beijing Hotgen Biotech Co.Ltd(688068) more than 90% of the revenue comes from the product revenue of diagnostic reagents. In 2020, the product revenue increased by more than 150%. The revenue of diagnostic instruments and biological raw materials increased by more than 28%.
overseas business outbreak wants to further expand
As a high-tech enterprise that landed on the science and innovation board in September 2019, Beijing Hotgen Biotech Co.Ltd(688068) has amazing performance.
In the year of listing, Beijing Hotgen Biotech Co.Ltd(688068) achieved a revenue of 200 million yuan, a year-on-year increase of 12.45%.
In 2020, the revenue exceeded 500 million yuan, with a year-on-year increase of 144.06%, Beijing Hotgen Biotech Co.Ltd(688068) said that this was mainly due to the significant increase in the sales of covid-19 antigen rapid detection reagent products in Europe. In 2020, Beijing Hotgen Biotech Co.Ltd(688068) overseas operating revenue increased by 8021.42%.
In the first half of 2021, Beijing Hotgen Biotech Co.Ltd(688068) revenue soared again, reaching 3.6 billion yuan, a year-on-year increase of 3904.13%. Beijing Hotgen Biotech Co.Ltd(688068) said that this is due to the first half of 2021, the company’s New Coronavirus 2019-nCoV antigen detection kit (anterior nasal cavity) and New Coronavirus 2019-nCoV antigen detection kit (saliva) two New Coronavirus antigen rapid detection reagent products were obtained in March 2nd and 22nd by the German Federal medicines and Medical Devices Research Institute (BfArM) for home free testing certification. It can be sold in supermarkets, pharmacies and Internet stores in Germany, resulting in the explosive growth of the company’s foreign trade orders.
In the future, Beijing Hotgen Biotech Co.Ltd(688068) also has plans to deeply expand overseas markets and promote the company’s global operation.
On February 15, Beijing Hotgen Biotech Co.Ltd(688068) voluntarily disclosed that it plans to set up a wholly-owned subsidiary, rejing health, which is mainly engaged in the R & D, manufacturing and sales of medical devices such as in vitro diagnostic products. Beijing Hotgen Biotech Co.Ltd(688068) said that this move is based on the company’s global strategic layout, and also to further meet the business development and nearby supporting needs in the Americas and other places.
