Last year’s hot new stock Sino Biological Inc(301047) , just released its annual report, has markedly declined in performance, showing a “awesome” dividend and high turnover. The profit of the year is basically divided.
Since its listing in August last year, the company’s share price once soared to 699 yuan, but now there is only 333 yuan left, and the share price has been halvedP align = “center” performance declined, but high scores and high profits were transferred, and the profits were basically divided
As a leading medical CXO enterprise in the field of recombinant protein, Sino Biological Inc(301047) provides high-quality biological reagents and high-level technical services for global pharmaceutical enterprises and scientific research institutions. The stock was sought after by funds when it was listed on the science and innovation board in August 2021. The issue price was as high as 292.92 yuan, and then the share price soared to 699 yuan in a few days.
However, the just released annual report of 2021 shows that the company achieved an operating revenue of 965 million yuan in 2021, a year-on-year decrease of 39.53%; The net profit attributable to the parent company was 720 million yuan, a year-on-year decrease of 36.15%. The company said that the overall performance decline in 2021 was mainly due to covid-19 virus related businesses, which maintained sustained and rapid growth due to changes in the epidemic situation, prevention and control policies, market competition and other factors.
In fact, the decline in performance is nothing. The key is that the company has thrown out a very rich high dividend scheme under the condition of obvious decline in performance. The company said that the company distributed 100 yuan (including tax) in cash dividends to all shareholders for every 10 shares and increased 9 shares for every 10 shares to all shareholders with capital reserve.
The dividend of 100 yuan is distributed for every 10 shares, which is comparable to that of few enterprises in the A-share market. It is fast catching up with Kweichow Moutai Co.Ltd(600519) .
According to the current total share capital of 68 million shares, the dividend needs 680 million yuan, and the basic net profit of 720 million yuan in 2021 is very little left.
Compared with the high dividend, the company’s share price has gone all the way down after going public. The latest share price is 333 yuan, with a total market value of 22.6 billion yuan. The share price has been halved when it is highP align = “center” securities companies expect their performance to decline in the next few years
As a research and development oriented biotechnology platform, it still needs continuous investment, perhaps waiting for the outbreak one day. The revenue and profits predicted by securities companies in recent years are basically in a downward trend.
Zhongtai Securities Co.Ltd(600918) according to the Research Report at the beginning of January this year, the company’s revenue from 2021 to 2023 is expected to be 1.027, 838 and 878 billion yuan, with a year-on-year increase of – 35.62%, – 18.47% and 4.76%, and the net profit attributable to the parent company is 613, 430 and 402 million yuan, with a year-on-year increase of – 45.68%, – 29.81% and – 6.40%, corresponding to EPS of 901, 632 and 592.
The Research Report of Kaiyuan securities last December also predicted a decline in performance in recent years. Based on the characteristics of the industry and the needs of end customers, we are optimistic about the long-term development of the company with its own biotechnology platform, which can provide a variety of biological reagent product lines and a rich variety of platforms. The operating income is expected to be RMB 5.9 billion in 2026 and RMB 1.084 billion in 20206 and RMB 1.084 billion in 20206, respectively.
