The pharmaceutical sector rebounded this week
This week, the pharmaceutical biological index rose by about 0.18%, outperforming the Shanghai and Shenzhen 300 index by 1.86 percentage points, outperforming the Shanghai Composite Index by 0.29 percentage points, and ranking ninth in the industry. As of Friday (March 4) this week, PE (TTM, excluding negative value) in the pharmaceutical industry was 28.76 times, below the "mean value - 1 times standard deviation" since 2015. Among the pharmaceutical level III sub industries, among the 13 sub industry sectors this week, 6 sub industry sectors rose and 7 sub industry sectors fell. Pharmaceutical circulation was the sub industry with the largest increase, up 9.12%. Medical equipment was the sub industry with the largest decline, down - 3.54%. The sub industry with the highest valuation this week is the hospital, and the PE (TTM) is 77 times.
To maintain the judgment that "the pharmaceutical market has stood firm and is at the bottom", we need to increase the allocation
The theme of medicine this week is "small market value + covid-19 drugs and testing reagents", which brings fluctuations in the market. The weekly increases of China Meheco Group Co.Ltd(600056) , Shenzhen Neptunus Bioengineering Co.Ltd(000078) , Guangdong Zhongsheng Pharmaceutical Co.Ltd(002317) , first pharmaceutical, Realcan Pharmaceutical Group Co.Ltd(002589) , CommScope biology, Zhejiang Orient Gene Biotech Co.Ltd(688298) , Hybio Pharmaceutical Co.Ltd(300199) , etc. rank top; Hong Kong stock medicine fluctuates greatly. Xianruida medical, zaiding medicine, gakos, Cansino Biologics Inc(688185) , Aidi palace, Hehuang medicine, Baiji Shenzhou, viabio, Fonda holdings, Kunbo medical and Corning Jerry have a large callback. The capital attribute of Hong Kong stock is relatively complex. International political and economic fluctuations will have an impact on the Hong Kong stock market, Among them, the market is also worried about the commercialization prospect of innovative drugs / devices, and the mood is extreme.
Standing at the market point of fundamentals and capital structure, this year's centralized purchase policy continued to promote the uncertainty caused by the implementation (centralized purchase of consumables, national purchase, alliance purchase, etc.). In addition, the short-term pharmaceutical industry sector has not seen clear favorable policies / changes, and the valuations of many pharmaceutical companies have reached a very reasonable range, The uncertainty of policy changes makes many investors unable to start. The PE · ttm39x of Pharmaceutical (CITIC) on March 4 has been a reasonable range downstream of the valuation center in the history of medicine, and medicine has a strong investment value.
We suggest the direction configuration of this year: Traditional Chinese medicine (policy friendly + undervalued value) + medical equipment (medical infrastructure) + scientific research reagents and upstream (autonomous and controllable) + looking for the target from bottom to top in other directions; In addition, covid-19 small molecular medicine has contributed enough flexible performance to cdmo company. It is suggested to pay attention to the subject matters such as Porton Pharma Solutions Ltd(300363) , Asymchem Laboratories (Tianjin) Co.Ltd(002821) and so on. We suggest the following investment ideas:
(1) a sector of Chinese medicine: a sector of Chinese medicine: a sector of traditional Chinese medicine: a brand name, a precious OTC + an innovative Chinese medicine + a chain of traditional Chinese medicine. We recommend: forthe luxury of a famous brand, an innovative Chinese medicine + an innovative Chinese medicine + a chain of Chinese medicine. We recommend: foran expensive brand, a traditional Chinese medicine + an innovative Chinese medicine + a chain of Chinese medicine + a chain of Chinese medicine, a chain of Chinese medicine. We recommend: forthe luxury of the brand, a pricfor the precious brand, an expensive OTC + for the brand, a traditional Chinese Medicine Innovation + an innovation + Chinese medicine + a chain of Chinese medicine + a chain chain of Chinese medicine chain. We recommend our recommendations: the and other subjects are also recommended for attention: Jiangsu Kanion Pharmaceutical Co.Ltd(600557) , Tasly Pharmaceutical Group Co.Ltd(600535) , Hunan Fangsheng Pharmaceutical Co.Ltd(603998) , Teyi Pharmaceutical Group Co.Ltd(002728) , Guilin Sanjin Pharmaceutical Co.Ltd(002275) , Zhejiang Shouxiangu Pharmaceutical Co.Ltd(603896) and other subjects.
(2) medical infrastructure sector: medical infrastructure sector: we recommend to focus on the medical infrastructure sector: we recommend to focus on the medical infrastructure sector: medical infrastructure sector: medical infrastructure sector: we recommend to focus on the Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Shenzhen Yhlo Biotech Co.Ltd(688575) , Autobio Diagnostics Co.Ltd(603658) , Shenzhen Lifotronic Technology Co.Ltd(688389) , Maccura Biotechnology Co.Ltd(300463) , Tellgen Corporation(300642) , Guangzhou Wondfo Biotech Co.Ltd(300482) Wuhan Easy Diagnosis Biomedicine Co.Ltd(002932) et al. IVD enterprises play an important role in epidemic prevention and control (antibodies, antigens and nucleic acid detection reagents), which provides sufficient funds for the development of the company in the future.
(3) scientific research reagents and upstream: scientific research reagents and scientific research reagents and upstream: scientific research reagents and upstream: scientific research reagents and upstream: we propose to focus on the Nanjing Vazyme Biotech Co.Ltd(688105) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Zhejiangtailin Bioengineering Co.Ltd(300813) , Nanmo biology, etc.
(4) other bottom-up sectors and companies need to be analyzed according to the subject matter and valuation of the industry and the company. It is proposed to pay attention to Yantai Zhenghai Bio-Tech Co.Ltd(300653) (active biological bone is approved, and the PE of wind is 40x in 2022), Medprin Regenerative Medical Technologies Co.Ltd(301033) (the advantage of 3D printing manufacturing process in non animal consumables) and other subjects of regenerative medicine; The valuation of the medical service sector is low. We recommend haijiya and gushengtang with high cost performance and expansibility. We suggest paying attention to Aier Eye Hospital Group Co.Ltd(300015) , Chaoju Ophthalmology, Jinxin reproduction, etc; Biological products and vaccines need continuous attention. We recommend Chongqing Zhifei Biological Products Co.Ltd(300122) , Changchun Bcht Biotechnology Co(688276) , and Walvax Biotechnology Co.Ltd(300142) , Cansino Biologics Inc(688185) , Chengdu Olymvax Biopharmaceuticals Inc(688319) , Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) , etc; For household medical devices, it is recommended to pay attention to Jiangsu Yuyue Medical Equipment And Supply Co.Ltd(002223) (wind agrees that PE in 2022 is 17x) and Cofoe Medical Technology Co.Ltd(301087) (PE · TTM is 28x).
(5) for the innovative drug sector, it is suggested to pay attention to the innovative drug targets with international ability. We suggest to pay attention to Jiangsu Hengrui Medicine Co.Ltd(600276) , Baiji Shenzhou, Shanghai Junshi Biosciences Co.Ltd(688180) , Betta Pharmaceuticals Co.Ltd(300558) , Hehuang medicine, kangfang biology, China biopharmaceutical, etc.
New report issued this week
Company depth Yunnan Baiyao Group Co.Ltd(000538) ( Yunnan Baiyao Group Co.Ltd(000538) ): "century old famous medicine, century old brand, achievement of great health leader"; Company depth Beijing Tongrentang Co.Ltd(600085) ( Beijing Tongrentang Co.Ltd(600085) ): "history casts brand, reform radiates new life"; Shenzhen Nanmo Biology (688265): model animal leader, leading supplier of "living reagent" with technology; Company comments Chongqing Zhifei Biological Products Co.Ltd(300122) ( Chongqing Zhifei Biological Products Co.Ltd(300122) ): recombinant covid-19 virus protein vaccine has been approved for conditional listing and will continue to contribute to performance; Industry depth TCM topic 8: TCM diagnosis and treatment services: "the track of TCM medical services has left a pearl in the sea, and the outbreak period is coming quietly"; Special report 9 on in-depth traditional Chinese medicine in the industry: sorting out the protected varieties of traditional Chinese medicine; Depth of the company Shenyang Xingqi Pharmaceutical Co.Ltd(300573) ( Shenyang Xingqi Pharmaceutical Co.Ltd(300573) ): "the rise of innovative eye medicine leaders and the brilliance of heavy new products"; Company depth Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) ( Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) ): original "collateral disease syndrome treatment" system, innovative traditional Chinese medicine has broad prospects.
Performance of individual stocks this week: most A-shares increased, while most Hong Kong stocks fell
423 stocks rose this week, accounting for 301%.
The top ten medicine stocks that are among the top ten medicine stocks that are among the top ten in this week's top ten medicine stocks that are among the top ten medicine stocks that will rise this week: rich China (60.99% 60.99%), Xinxiang Tuoxin Pharmaceutical Co.Ltd(301089) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ (25.01%); The pharmaceutical stocks with the top ten declining in the week's top ten medicine stocks are: Hongda Xingye Co.Ltd(002002) Andon Health Co.Ltd(002432) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\7.63%), Guiyang Xintian Pharmaceutical Co.Ltd(002873) (- 7.51%), Jianmin Pharmaceutical Group Co.Ltd(600976) (- 7.36%), Shanghai Sanyou Medical Co.Ltd(688085) (- 7.02%%). Of the 82 stocks this week, only 6 rose, accounting for 7.3%.
Global covid-19 epidemic situation and vaccination
The number of newly confirmed cases in the world rebounded, and the cases in South Korea and Vietnam surged; Shandong, Jilin, Guangdong, Hebei, Inner Mongolia, Guangxi, Jiangsu, Yunnan and other places. The number of vaccinations continued to grow, with the global average overall vaccination rate of about 56%, and the overall vaccination rate in China was about 85%.
