On March 8, Imeik Technology Development Co.Ltd(300896) released the annual performance report for 2021. The report shows that in 2021 Imeik Technology Development Co.Ltd(300896) the annual operating revenue was 1.448 billion yuan, a year-on-year increase of 104.13%; The net profit was 958 million yuan, a year-on-year increase of 117.81%; Performance continued to grow at a high level.
It is worth mentioning that Imeik Technology Development Co.Ltd(300896) gross profit margin in 2021 reached 93.96%, an increase of 1.74% over the same period last year. Among them, the net operating cash flow was 943 million yuan, a year-on-year increase of 121.48%.
From the secondary market, although Imeik Technology Development Co.Ltd(300896) performance is eye-catching, the stock price performance is not satisfactory. As of today’s close, the total market value of the company has evaporated by nearly 10.1 billion yuan, with a total market value of nearly 10.1 billion yuan. From the perspective of shareholder changes, another A-share company Jointown Pharmaceutical Group Co.Ltd(600998) which previously set foot in Yimei and made a lot of profits reduced its positions in the fourth quarter of last year, but northbound funds and some institutional funds are still increasing their positions to buy.
regeneration and other blue ocean markets become new increments
From the perspective of disassembly, as the leader of China’s medical beauty, the product matrix of Imeik Technology Development Co.Ltd(300896) under achieved overall growth last year. Among them, the operating revenue of solution injection products was 1.046 billion yuan, an increase of 133.84% over the same period of last year; Gelatin injection products achieved operating income of 385 million yuan, an increase of 52.80% over the same period last year.
The background of meso industry is that the growth rate of China’s medical beauty market is much higher than that of the global market, and is gradually entering a golden period of development. According to the frost Sullivan research report, Imeik Technology Development Co.Ltd(300896) is the first company to carry out independent research and development of medical beauty biomedical materials in China, and a variety of medical beauty products are the first of their kind in China. Frost Sullivan data show that in 2020, the company’s sodium hyaluronate injection products ranked first with a market share of 27.2% in terms of sales volume and 14.3% in terms of amount. With the high popularity of hi body series, white angel and other products, it is expected to further increase its share.
As of the end of the reporting period, Imeik Technology Development Co.Ltd(300896) has seven class III medical device registration certificates. The disclosed products under development include botulinum toxin A for injection for removing dynamic wrinkles, the second generation facial implant line for soft tissue lifting, liraglutide injection for chronic weight management, hyaluronidase for injection for dissolving hyaluronic acid and subcutaneous injection Deoxycholic acid injection and lidocaine tetracaine cream. The rich product pipeline not only supports the sustained high growth of revenue, but also improves the competitiveness and brand strength of the company, covering more customer groups.
Behind the diversified product gradient layout is the company’s continuous high R & D investment to promote technology and product upgrading. From 2018 to 2021, the company’s R & D investment increased year by year. By the end of the reporting period, the company’s R & D investment in 2021 was 102 million yuan, a year-on-year increase of 65.54%, and R & D personnel accounted for 23.08% of the total number of employees. The company has accumulated 45 patents, including 25 invention patents.
In June 2021, the company’s new product “yubai angel” was approved by nmpa for class III devices, and it was put on the market the next month to achieve rapid growth. The main ingredient of the angel is sodium hyaluronate gel containing L-lactic acid glycol glycol (PLLA-PEG) microspheres. It is the first injection of sodium hyaluronate in China. It has the dual function of “physical occupancy + active regeneration”, and can rapidly increase the density of collagen in the skin in the short term. The launch of this product will expand the coverage of the company’s injection filler products to the blue ocean market of renewable products, and further expand the market space.
benchmarking foreign medical and American giants
In June 2021, the National Health Commission and other eight ministries and commissions jointly issued the work plan for the special rectification of illegal medical and beauty services, which clearly stipulates to strengthen the registration management of class II and III medical devices in China, and products without registration approval shall not be listed. For the normative development of the industry, strong supervision is obviously beneficial to the head enterprises, and will play a role in promoting and expanding the capacity of medical institutions and manufacturers that have been laid out in this field.
from the product side, the Imeik Technology Development Co.Ltd(300896) core product “Hi body” is currently in the stage of rapid increase in market share as the only class III sodium hyaluronate that has been approved by nmpa in 2017, its scope of application includes the neck. The neck pattern market has combed a strong brand reputation. The new product “moistening angel” has the main effect of “immediate filling + long-term repair”, which can solve the pain point of ordinary sodium hyaluronate filling the market at present.
Summarize the development history of global medical and beauty industry giants aierjian, gaodemei and LG chemistry. In addition to paying attention to R & D, giants often carry out global performance and broaden the direction of product line through self-research or acquisition.
It is worth noting that Imeik Technology Development Co.Ltd(300896) submitted the application for listing of Hong Kong stocks in July 2021, in order to further promote the strategic layout in the overseas market and enhance the comprehensive influence of the brand in addition, in terms of international market layout, the company also acquired South Korea huansbio25 4% equity, which is regarded by the company as the growth path choice of copying overseas giants
Jointown Pharmaceutical Group Co.Ltd(600998) reduction Imeik Technology Development Co.Ltd(300896)
in the shareholder camp of Imeik Technology Development Co.Ltd(300896) , one eye-catching company is Jointown Pharmaceutical Group Co.Ltd(600998) . Because Imeik Technology Development Co.Ltd(300896) set foot in medical beauty, the company’s performance this year is eye-catching
Taking the first half of the year as an example, in the net profit of Jointown Pharmaceutical Group Co.Ltd(600998) more than 2.1 billion yuan, the investment income contributed more than half, among which the profit and loss included in the current period generated by the investment of A-share medical beauty leader Imeik Technology Development Co.Ltd(300896) reached 1.149 billion yuan. However, according to the latest disclosure, Jointown Pharmaceutical Group Co.Ltd(600998) has reduced its position in the fourth quarter of last year Imeik Technology Development Co.Ltd(300896) .
In the third quarter of last year, Jointown Pharmaceutical Group Co.Ltd(600998) was the new top ten shareholders of Imeik Technology Development Co.Ltd(300896) with 4.16 million shares. However, according to the disclosure of the annual report, the number of shares held decreased to about 1.93 million shares at the end of the fourth quarter of last year, and the reference market value of positions also decreased to 1 billion yuan.
but with the correction of Imeik Technology Development Co.Ltd(300896) share price in the second half of last year, there are also funds to buy against the trend. The most typical is the capital going north Hong Kong Central Clearing Co., Ltd. increased its position to 4.4 million shares at the end of last year, with an increase of more than 280000 shares, accounting for more than 5% of Imeik Technology Development Co.Ltd(300896) tradable shares. In addition, institutional funds including China Construction Bank Corporation(601939) – Yinhua rich theme hybrid securities investment fund have also increased their positions.
