Beijing Hotgen Biotech Co.Ltd(688068) february 27 announced that the company realized a net profit attributable to the parent company of RMB 2.193 billion in 2021, with a year-on-year increase of 185681%; The net profit deducted from non parent company was RMB 2.189 billion, with a year-on-year increase of 187882%. The company said that the main reason for the significant increase in performance was that under the continuous outbreak abroad in 2021, the covid-19 virus antigen self-test products developed by the company successively passed the self-test registration / filing of EU CE and drug regulatory departments such as Britain and France, and were quickly put into local anti epidemic, resulting in a significant increase in foreign trade orders and product revenue.
Insiders pointed out that considering the further opening of the covid-19 antigen detection reagent Market in the United States and the new demand of Europe and other countries around the world, the export of covid-19 antigen reagent is expected to usher in a new round of climax.
high performance, growth in line with expectations
According to the performance forecast released by Beijing Hotgen Biotech Co.Ltd(688068) previously, the company is expected to realize the net profit attributable to the parent company of 2 billion yuan to 2.35 billion yuan in 2021, with a year-on-year increase of 168465% to 199697%; It is expected to realize the net profit of deducting non parent company from 1.987 billion yuan to 2.337 billion yuan, with a year-on-year increase of 169617% to 201259%. In contrast, the company’s performance growth in 2021 is in line with expectations.
In addition to the significant increase in the performance of overseas companies in 2020, it is also an important reason for the sharp increase in the performance of overseas companies in 2020. According to the company’s annual report, the total net profit attributable to the parent company from 2017 to 2020 is about 224 million yuan, accounting for only 10.2% of the net profit attributable to the parent company in 2021.
China Securities News, China Securities Taurus reporter noted that on February 15, Beijing Hotgen Biotech Co.Ltd(688068) 2, two announcements were disclosed in succession. One is that the company plans to invest US $5 million to set up a wholly-owned subsidiary of hot view health in New York State, and the other is that the company plans to jointly invest RMB 50 million with the actual controllers Lin Changqing and Yaojing management center to set up Yujing pharmaceutical.
Hot view health’s main business is the R & D, manufacturing and sales of medical devices such as in vitro diagnostic products Beijing Hotgen Biotech Co.Ltd(688068) said that this foreign investment is based on its global strategic layout, further meeting the business development and nearby supporting needs in the Americas and other places, deeply expanding overseas markets and promoting the global operation of the company, which is in line with its long-term development strategy and the interests of all shareholders.
Yujing pharmaceutical will focus on the research and development of viable drugs, focusing on intestinal microorganisms and a variety of metabolic and immune diseases Beijing Hotgen Biotech Co.Ltd(688068) said that this investment will help the company explore the research and development field of live bacteria drugs, meet the needs of business expansion and business structure optimization, deepen the company’s strategic layout from diagnosis to treatment, and improve its sustainable competitiveness. The company also said that there is synergy between Yujing pharmaceutical’s business and the company’s business, which does not involve any damage to the interests of the company and all shareholders.
institutions are optimistic about the investment prospect of the sector
Recently, a number of covid-19 testing companies have successively released 2021 performance express. Combing the announcement, it can be seen that the large increase in the demand for overseas covid-19 testing has led to a sharp rise in the sales of relevant testing products, and most of the performance of relevant listed companies in 2021 has increased to varying degrees.
Zhejiang Orient Gene Biotech Co.Ltd(688298) 2021: the net profit attributable to the parent company was 4.777 billion yuan, with a year-on-year increase of 184.8% Hangzhou Biotest Biotech Co.Ltd(688767) in the same year, the net profit attributable to the parent company was 833 million yuan, a year-on-year increase of 91.32% Jiangsu Bioperfectus Technologies Co.Ltd(688399) 2021 net profit attributable to parent company increased by 46.1% year-on-year to reach 1.197 billion yuan.
Zhejiang Orient Gene Biotech Co.Ltd(688298) said that in 2021, the global covid-19 epidemic continued to affect the sales performance of the company’s covid-19 virus antigen rapid detection reagent (including home self-test) products in the European market continued to increase significantly, and the business of conventional diagnostic reagents and diagnostic instruments maintained stable development, which contributed to a significant increase in business performance in 2021 Hangzhou Biotest Biotech Co.Ltd(688767) said that the company actively responded to the global demand for covid-19 testing products, continuously developed high-quality covid-19 testing products, opened up new markets and new customers, and the covid-19 antigen family self-test kit produced by the company has successively obtained EU CE certification and Australian TGA certification, which has promoted the surge in the number of foreign trade orders and a significant increase in business performance year-on-year.
China Securities Co.Ltd(601066) and other securities companies said that since January 2021, affected by the opening of covid-19 antigen self-test market in Britain, Germany and other European countries, the export of covid-19 antigen products in China has exploded, and the performance of Zhejiang Orient Gene Biotech Co.Ltd(688298) , Beijing Hotgen Biotech Co.Ltd(688068) and others has increased greatly. In addition, the repeated epidemic has greatly increased the demand for covid-19 testing in the United States. The Biden government announced that 500 million household rapid testing kits would be distributed to the American people free of charge from January 2022, and an additional 500 million kits were announced on January 12.
The agency said that at present, the transmission speed of Omicron variant virus is faster, the number of covid-19 confirmed is at a new high, and the demand for covid-19 detection reagent is expected to surge. Considering the liberalization of covid-19 antigen detection reagent Market in the United States and the demand of Europe and other countries around the world, the export of covid-19 antigen detection reagent is expected to usher in a new round of climax.
Source: China Securities Co.Ltd(601066) Research Report
