As of February 25, according to the industry classification of Shenyin Wanguo, 103 of the 421 A-share pharmaceutical companies have received institutional research since the new year. Last year, 262 pharmaceutical companies were surveyed by institutions, and the number of institutions has reached half of last year in just two months of the new year.
Among the 103 companies, Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) accepted 533 research institutions, ranking first; Huadong Medicine Co.Ltd(000963) and Aohua endoscopy followed, receiving 482 and 222 research institutions respectively. According to the reporter's statistics, equity incentive, centralized purchase and covid-19 medical products have become the "hot topic" of research.
Among the top 15 companies with the largest number of research institutions, Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , Aohua endoscopy, Youcare Pharmaceutical Group Co.Ltd(688658) , Teyi Pharmaceutical Group Co.Ltd(002728) and Jenkem Technology Co.Ltd(688356) were asked about equity incentive.
An investor asked Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) : "in the latest employee stock ownership plan, the company has formulated the assessment index of 20% profit growth in the next three years. What is the foundation to help the company achieve this performance goal?"
In this regard, Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) means: "The company judges that there are still very broad development prospects for global medical devices in the future. From the perspective of the company's business, it is expected that the company will mainly have the following four growth sources in the next three years: new medical infrastructure in the post epidemic era, the improvement of market share in the international market, IVD products and four seed businesses of animal medicine, minimally invasive surgery, orthopedics and AED."
"The value of equity incentive depends on its cost. If the additional value brought to listed companies is higher than the cost paid by equity incentive, it is an effective equity incentive." Pan Helin, executive director of the Digital Economy Research Institute of Central South University of economics and law, told the Securities Daily.
In addition to equity incentive, centralized purchase is another "keyword" concerned by institutions. Five companies including Youcare Pharmaceutical Group Co.Ltd(688658) , Apeloa Pharmaceutical Co.Ltd(000739) , Changchun High And New Technology Industries (Group) Inc(000661) , Teyi Pharmaceutical Group Co.Ltd(002728) , Jenkem Technology Co.Ltd(688356) were asked about centralized purchase.
In the latest record of investor relations activities, several institutions asked Youcare Pharmaceutical Group Co.Ltd(688658) : "on the whole, what is the impact of centralized procurement on the company?" In this regard, Youcare Pharmaceutical Group Co.Ltd(688658) said: "metformin is the product that the company has entered into centralized purchase. Centralized purchase does not have much impact on the overall profit level of the company. On the contrary, under the environment of centralized purchase, new sales channels have been added, and the company's revenue and profit have achieved double growth."
"On the whole, centralized purchase will reduce the overall profit margin of the pharmaceutical industry to a certain extent. However, the impact on specific pharmaceutical companies mainly depends on the company's main products. A small number of pharmaceutical companies' products belong to consumer products and do not rely on hospital medical insurance channels, so they are relatively less affected by centralized purchase." Pan Helin said.
Covid-19 medical products have also become a hot topic for institutions. According to incomplete statistics, Autobio Diagnostics Co.Ltd(603658) , Wuhan Easy Diagnosis Biomedicine Co.Ltd(002932) , Andon Health Co.Ltd(002432) , Youcare Pharmaceutical Group Co.Ltd(688658) , Shanghai Junshi Biosciences Co.Ltd(688180) 5 companies were asked about covid-19 medical related products.
In addition to covid-19 test reagent, covid-19 has also become a hot topic in the capital market recently. As one of the companies that have made rapid progress in covid-19 oral medicine in China, Shanghai Junshi Biosciences Co.Ltd(688180) said in the latest record of investor relations activities that it is actively promoting relevant clinical trials. In December 2021, vv116 (a covid-19 small molecule drug) has been approved for use in Uzbekistan.
"Vv116 is the third covid-19 oral drug approved to be listed in the world after the approval of MSD and Pfizer covid-19 oral drugs, which is enough to prove the strong strength of Chinese innovative drug companies. At present, vv116 has entered the clinical trial stage in China. If there is no accident, the product will be successfully listed in China." Li Huyu, a postdoctoral fellow in the Department of biochemistry of the University of Hong Kong, told reporters.
