Today (December 13), stocks of the Beijing stock exchange generally rose, with Northland up 30%, Tonghui information up nearly 13%, Fengguang precision up more than 8%, Dadi electric up more than 7%, and Tongyi aerospace and Gaishi food up more than 6%. Among them, Northland opened high and walked high. At the end of the trading, Northland successfully closed the trading limit. Since last week, Northland has been popular for many days, and a report from securities companies last weekend made Northland the most eye-catching stock on the Beijing stock exchange today.
Note: Northland’s 30 cm limit today (December 13)
Northland is favored by securities companies, and the products under research are expected to be listed
On December 11, Guosheng securities released its Research Report on Northland, which pointed out that Northland is a high-quality innovative drug target of the Beijing stock exchange, and its market value is greatly underestimated. It is estimated that the company’s operating revenue from 2021 to 2023 will be 42 million yuan, 50 million yuan and 153 million yuan respectively, with a year-on-year growth rate of 2.4%, 16.7% and 208.2%. By summing up the valuation of various varieties, it is estimated that the reasonable market value of the company in 2021 is about 15.27 billion yuan. the company has intensive cultivation in the field of gene therapy, and its core product nl003 has heavy product potential. Optimistic about the company’s long-term development, first coverage and “buy” rating.
It is reported that Northland is an innovative biopharmaceutical enterprise, mainly engaged in the R & D, production and sales of gene therapy drugs, recombinant protein drugs and ophthalmic drugs. The company’s core product nl003 (recombinant human hepatocyte growth factor naked plasmid injection) is mainly used to cure lower limb ischemic diseases (CLI). According to Guosheng securities, the phase II clinical data of nl003are outstanding, and the phase III clinical data have been comprehensively promoted. It is expected to be listed in 2023 . Nl003 is expected to remain the market leader of CLI therapeutic drugs in the 100 billion market, The peak sales is estimated to exceed 5 billion yuan, and the single product supports the market value of more than 10 billion yuan.
As of today’s closing (December 13), Northland has a total market value of 6.007 billion yuan, which still has nearly 150% growth space compared with the reasonable market value of 15.27 billion yuan given by securities companies. in terms of the company’s performance, according to the annual report, Northland’s net profit has continued to show losses in recent years. The company previously said at the performance explanation meeting that the R & D capital investment of innovative drugs is large and the cycle is long. The company is still in the stage of product R & D. the company has not made a profit and has accumulated outstanding losses, and the R & D expenditure is large. Before the innovative drugs are approved for listing, the company still has the possibility of loss.
The recent research report of Guotai Junan Securities Co.Ltd(601211) also pointed out that since the company has not yet approved the listing of bioengineering new drugs, it still generates income mainly through the production and sales of eye drops, OEM and technology transfer to partially make up for the R & D expenditure of bioengineering new drugs, it is expected that the loss will continue in recent years, It is expected to make a profit after the company’s core new drug products are approved and listed in the future. it is estimated that the company’s existing funds are expected to support daily operation for 5-6 years. It is expected that it is less likely to face cash flow difficulties before the core products generate revenue.
strategy of Beijing stock exchange: find the turning point of fundamentals and focus on the leader of high-quality track
As of today (December 13), 82 stocks have been listed on the Beijing stock exchange. As the gathering place of innovative R & D small and medium-sized enterprises represented by specialized Texin, the valuation level of listed enterprises on the Beijing stock exchange is relatively low, and some specialized Texin “little giants” have relatively high investment and stronger profitability. Different from ordinary Shanghai and Shenzhen stocks, individual stocks of the Beijing stock exchange are generally in the growth and start-up stage, and the change of their fundamental pattern has become the investment logic preferred by the market. Especially, the inflection point of fundamentals is the best, which can often usher in huge performance improvement.
Kaiyuan Securities pointed out that there are four main lines to tap the “treasure of the Beijing stock exchange” (1) the allocation value of leading companies with large market value in the Beijing stock exchange is high. (2) Most small and medium-sized enterprises in the North stock exchange are at the head of the subdivided track. According to the plate characteristics, they can select the key layout of high boom track head companies. (3) Enterprises listed on the Beijing stock exchange are mainly small and medium-sized enterprises. They invest in the initial stage of the company’s growth and need to focus on looking for marginal changes. (4) The overall valuation level of the Beijing stock exchange is low, and the Davis double-click effect is expected to appear by selecting the growth targets with high undervalued value.
In addition, war match and innovation are also important opportunities to participate in the investment of Beijing stock exchange. Kaiyuan Securities pointed out that (1) the Beijing stock exchange has set up three pricing issuance methods: direct pricing, inquiry and bidding. At the same time, the subscription of new shares adopts the full payment mechanism, and investors need to pay attention to the occupation of new funds. (2) In terms of war allocation, the proportion of listed war allocation of companies on the Beijing stock exchange is high, and there is no mandatory follow-up investment requirements of sponsor securities companies, which has a great opportunity for external institutional investors to participate. (3) In terms of offline innovation, the high tick ratio ensures that the pricing is reasonable. Under the neutral forecast, the new rate of return for class a investors and class C investors of the Beijing stock exchange is 9.9% and 8.5%.
(Financial Associated Press)
