This week’s view:
Pharmaceutical continued to pick up, focusing on the performance of the first quarter. This week, the CSI 300 fell 1.68%, and the pharmaceutical and biological industry rose 0.18%, ranking eighth in 28 primary sub industries. The pharmaceutical sector has continued to pick up since the middle and late February. This week, several companies announced the performance express of 2021, and some of them performed well, such as Shanghai Medicilon Inc(688202) (+ 111.39%, + 119.29%, respectively the growth rate of deducting non net profit in 2020 and 2021, the same below), Jenkem Technology Co.Ltd(688356) (+ 51.73%, + 91.41%), Porton Pharma Solutions Ltd(300363) (+ 77.82%, + 74.42%) Guangzhou Jet Bio-Filtration Co.Ltd(688026) (+ 98.02%, + 60.28%), etc. The first quarter of the annual report is approaching. In the short term, we suggest to gradually pay attention to the performance of the first quarter. Throughout the year, we are still firmly optimistic about two directions: 1) continuous catalysis in epidemic related fields. The repeated outbreaks in Hong Kong and other places and the gradual opening of the country in the future are expected to continue to catalyze relevant sectors, including oral drug R & D and industrial chain, covid-19 detection, etc; 2) Valuation repair: including the repair of undervalued value, such as API, traditional Chinese medicine, chain pharmacy, specialty preparation, etc; And the high boom track with large adjustment in the early stage, such as cro / cdmo, upstream of life sciences, medical services, vaccines, etc.
The National Health Commission began to deploy sequential immunization and suggested paying attention to investment opportunities in the vaccine sector. On February 19, the joint prevention and control mechanism of the State Council held a press conference to introduce the situation of epidemic prevention and control and vaccination. It was mentioned that recently, with the approval of the joint prevention and control mechanism of the State Council, the National Health Commission has begun to deploy sequential immunization. Considering the increasingly obvious influenza trend of covid-19 epidemic, it is suggested to pay attention to covid-19 vaccine related development enterprises, including Chongqing Zhifei Biological Products Co.Ltd(300122) , Shenzhen Kangtai Biological Products Co.Ltd(300601) , Cansino Biologics Inc(688185) -u, Walvax Biotechnology Co.Ltd(300142) etc. In the long run, each vaccine head enterprise has a large amount of heavy varieties or is about to go on the market. With the increase of vaccination awareness under the covid-19 epidemic, we expect that the vaccination rate of large varieties is expected to continue to increase and gradually approach the level of developed countries. The class II vaccine industry is expected to achieve a compound growth of 20% – 30% in recent 3-5 years. It is recommended that Chongqing Zhifei Biological Products Co.Ltd(300122) , Shenzhen Kangtai Biological Products Co.Ltd(300601) , Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) Chengdu Kanghua Biological Products Co.Ltd(300841) , Hualan Biological Engineering Inc(002007) , Changchun Bcht Biotechnology Co(688276) , etc.
To highlight the performance of a single stock: a three month highlight: a three month highlight: a three month highlight: a three month highlight: a three month highlight: a three month highlight: a three month highlight: a three month highlight: tofocus on the following: ‘ Chongqing Zhifei Biological Products Co.Ltd(300122) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Cinda biology, Nanjing King-Friend Biochemical Pharmaceutical Co.Ltd(603707) , Joinn Laboratories (China) Co.Ltd(603127) , Zhejiang Gongdong Medical Technology Co.Ltd(605369) , Zhejiang Tianyu Pharmaceutical Co.Ltd(300702) , Zhejiang Starry Pharmaceutical Co.Ltd(603520) , Zhejiang Ausun Pharmaceutical Co.Ltd(603229) ; This week, the average decline was 0.56%, underperforming the pharmaceutical industry by 0.73%.
One week market dynamics: Based on the analysis of the pharmaceutical sector from the beginning of 2022 to the present, the yield of the pharmaceutical sector is – 11.6%, the yield of CSI 300 in the same period is – 9.0%, and the yield of the pharmaceutical sector is 2.6% lower than that of CSI 300. This week, the CSI 300 fell 1.68%, and the pharmaceutical and biological industry rose 0.18%, ranking eighth among 28 primary sub industries. The sub sectors of pharmaceutical commerce and chemical pharmacy rose 5.39% and 2.62% respectively, and the rest of the sub sectors fell.
Risk warning: the risk of policy disturbance, drug quality problems, and the risk of delayed information or untimely update of the public data used in the research report.
