Company code: Shanghai Fosun Pharmaceutical (Group) Co.Ltd(600196) company abbreviation: Shanghai Fosun Pharmaceutical (Group) Co.Ltd(600196) Shanghai Shanghai Fosun Pharmaceutical (Group) Co.Ltd(600196) (Group) Co., Ltd
Summary of annual report 2021
Section I important tips
1 the summary of this annual report is from the full text of the 2021 annual report (hereinafter referred to as "the full text of the annual report"). In order to fully understand the company's operating results, financial status and future development plan, investors should go to the website of Shanghai Stock Exchange http://www.sse.com.cn. And other media designated by the CSRC to carefully read the full text of the annual report. The abbreviations of the summary of this annual report are from the "interpretation" chapter in the full text of the annual report. 2. The board of directors, the board of supervisors and the directors, supervisors and senior managers of the company guarantee the authenticity, accuracy and completeness of the contents of the annual report, and there are no false records, misleading statements or major omissions, and bear individual and joint legal liabilities. 3. All directors of the company attended the board meeting. 4 Ernst & Young Huaming Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 5. The profit distribution plan or the plan of converting accumulation fund into share capital in the reporting period adopted by the resolution of the board of directors
It is proposed to submit to the general meeting of shareholders for approval to distribute a cash dividend of RMB 5.60 (before tax) for every 10 shares to all shareholders based on the total share capital of the equity registration Japanese company specified in the equity distribution implementation announcement.
Section II basic information of the company
1、 Company profile
Company stock profile
Stock type stock exchange stock abbreviation stock abbreviation before stock code change
A-share SSE Shanghai Fosun Pharmaceutical (Group) Co.Ltd(600196) Shanghai Fosun Pharmaceutical (Group) Co.Ltd(600196) not applicable
H-share stock exchange Fosun Pharmaceutical 02196 is not applicable
Contact person and contact information: Secretary of the board of directors
Name: Dong Xiaoxian
Office address: building a, No. 1289, Yishan Road, Shanghai
Tel: 02133987870
E-mail [email protected].
2、 Introduction to the company's main business during the reporting period
During the reporting period, the group continued to adhere to the business philosophy of "continuous innovation and enjoy health", continued to promote innovation and transformation, comprehensively accelerated the international layout, strengthened the integration of R & D, supply chain, production and commercialization systems, promoted the improvement of enterprise operation quality and operation efficiency, and achieved steady growth of performance.
(I) main business
The business directly operated by the group includes pharmaceuticals, medical devices and medical diagnosis, medical and health services, and covers the pharmaceutical business field by participating in Sinopharm holdings.
(II) business model
Under the guidance of the "4in" (innovation, internationalization, integration and intelligent) strategy, the group adheres to the development model of "innovation transformation, integrated operation and steady growth" and the belief of creating value for shareholders, continuously strengthens the ability of innovation, R & D and licensing, enriches the product line, strengthens the global layout and improves the operation efficiency; At the same time, actively promote the Wuxi Online Offline Communication Information Technology Co.Ltd(300959) layout of medical and health industry.
The group takes pharmaceutical as its core business, and the specific operation mode is as follows:
1. R & D innovation
Guided by innovation and internationalization, the Group continues to increase R & D investment and the introduction of scientific researchers. Through diversified and multi-level cooperation modes such as independent R & D, cooperative development, license introduction and deep incubation, the group enriches the pipeline of innovative products, improves the R & D and clinical capacity of new drugs, and speeds up the R & D, transformation and landing of innovative technologies and products.
2. Production operation
In order to further improve the competitiveness of the production system, strengthen operational efficiency and implement the internationalization strategy, the Group continues to sort out its internal advantageous production capacity and deepen the integration of production end. In China, the Group actively arranged China's comprehensive preparation manufacturing center, integrated characteristic preparation production bases, accelerated the construction and improvement of API production capacity and continued to expand production capacity. Overseas, Glen Pharma has built and operated many injection production lines that have passed GMP certification in mainstream regulatory markets such as the United States, the European Union, Japan and Australia, and deeply cultivated the global market.
3. Commercialization
The Group continues to strengthen the construction and integration of a professional, branded, digital and compliant marketing system. According to the differences in product attributes, indications and market regions, China's professional marketing teams such as innovative drugs and new retail, overseas marketing teams focusing on African, American and Indian markets, and sales support systems such as clinical medicine, market access, medical strategic alliance and brand promotion have been formed. (III) main performance drivers
1. The optimization of product structure brought by the listing of innovative products is the main driving factor of performance during the reporting period. The group focuses on the disease and technology fields that are clinical demand-oriented, effective and in line with the development orientation of modern medicine. Through diversified and multi-level cooperation modes such as independent research and development, cooperative development, licensing and introduction, and deep incubation, the group promotes the development, transformation and landing of innovative technologies and products. After more than ten years of continuous investment, many varieties such as hanlikang, hanquyou, Su Kexin and fubitai (Hong Kong, Macao and Taiwan markets) have been approved to be listed and sold in large quantities in recent three years, promoting the sustainable growth of performance.
2. The integration effect is gradually emerging. The Group actively promotes the integration of R & D, supply chain, production and marketing systems and resources to improve synergy and operational efficiency and promote steady growth of performance.
(IV) development status and position of the industry
1. Pharmaceutical manufacturing
(1) Basic development of the industry
In July 2021, the drug evaluation center of the State Food and Drug Administration issued the guiding principles for clinical value oriented clinical research and development of antitumor drugs (Exposure Draft), which further optimized and documented the previous evaluation standards of antitumor drugs, emphasizing that the concept of taking clinical needs as the core should be implemented in the research and development of antitumor drugs from project approval to clinical trials, Carry out clinical value oriented research and development of antitumor drugs.
The draft aims to avoid the clustering and homogenization of innovative R & D of enterprises, and puts forward higher requirements for the effectiveness and innovation of innovative R & D of enterprises. At the same time, with the improvement of innovation standards, it also gives more advantageous development space to leading pharmaceutical enterprises with international R & D system and differentiated R & D pipeline and real clinical value orientation.
In 2021, under the background of the normalization of covid-19 epidemic and under the influence of comprehensively accelerating the construction of China's international double cycle development pattern, China Meheco Group Co.Ltd(600056) manufacturing enterprises are facing major opportunities and challenges. Since 2018, the "4 + 7" pilot cities first proposed centralized volume procurement, and the implementation of the centralized volume procurement policy has been promoted for four years. The national and local centralized procurement has been promoted by layers, and the profits of enterprises are under pressure, forcing China Meheco Group Co.Ltd(600056) industry to seek high-quality development. Priority review and approval policies and medical insurance negotiations on innovative drugs will also effectively promote the innovative transformation of China Meheco Group Co.Ltd(600056) industry. The talent shows itself in the Internet plus the Wuxi Online Offline Communication Information Technology Co.Ltd(300959) integration of the medical service system. Therefore, innovation ability and cost advantage are still important manifestations of the competitiveness of pharmaceutical enterprises. In the first half of 2021, according to the hospital terminal market data released by iqvia, the average growth rate of the industry was about 5.7%.
(2) Market competition
The impact of centralized drug procurement and the reform of medical insurance payment method on generic drugs; The new generation of biotechnology and diagnosis and treatment technology emerge in endlessly, and the relevant industrialization is gradually mature. The innovation of China Meheco Group Co.Ltd(600056) enterprises has gradually kept pace with the pace of international innovation. Although the market competition is fierce, it still provides a huge space for the development of pharmaceutical enterprises.
(3) Market position and competitive advantages and disadvantages of the group
According to the list of top 100 China Meheco Group Co.Ltd(600056) industrial enterprises in 2020 issued by China Meheco Group Co.Ltd(600056) industrial information center of the Ministry of industry and information technology, the group ranks 7th; According to iqvia statistics, the sales revenue of the group's hospital prescription drugs ranked 13th in the country during the reporting period. The group is committed to promoting innovative R & D and accelerating the implementation of innovative technologies and products to meet the unmet clinical needs and improve drug accessibility. The self-developed product hanlikang (rituximab injection) is the first domestic biological similar drug approved for marketing; The self research product Han Qu (Trastuzumab Injection) is the first Chinese approved trastuzumab biological similar drug, and the first China Europe double batches of domestic monoclonal antibody biological analogues. The listing of Han Qu you promotes the reconstruction of China's HER2 positive breast cancer treatment pattern, and improves the availability of monoclonal antibody. Sukexin (avatripopal maleate tablets) is the first oral drug approved in the world for the treatment of chronic liver disease-related thrombocytopenia, filling the drug gap in relevant treatment fields in China, and bringing a new global leading clinical treatment scheme for Chinese patients with chronic liver disease-related thrombocytopenia. As one of the world's largest manufacturers of antimalarial drugs, the group has become a supplier of antimalarial drugs to the global fund, the United Nations Children's fund, the World Health Organization and drug procurement centers in African countries. In June 2021, yikaida of Fosun Kate, a joint venture of the group, became the first approved car-t cell treatment product in China, which brought the possibility of continuous remission to patients with second-line and above lymphoma.
In addition, the group has a mature sales network and upstream and downstream customer resources in the English and French speaking areas in sub Saharan Africa; After years of hard work, the holding subsidiary, gland Pharma, has become one of the largest and fastest-growing enterprises focusing on injection production in India, with business in 60 countries.
With innovative R & D as the core driving factor, the group has built and formed small molecule innovative drugs and technologies around key disease fields such as tumor and immune regulation, metabolism and digestive system, central nervous system and so on through independent R & D, cooperative development, licensing and deep incubation, so as to improve its innovation ability.
The group has implemented the internationalization strategy in innovation and R & D, licensing and introduction, production and operation and commercialization, and continued to strengthen the global clinical and drug registration and application capacity; BD team supports the layout of cutting-edge areas through cooperative development & licensing and introduction; Accelerate the international quality system certification of Chinese production lines, deepen the international marketing ability and continue to expand the international market.
2. Medical devices and medical diagnosis
(1) Basic development of subdivided industries
China's medical device industry has made breakthroughs and development in many fields of high-end medical device market, especially in cross-border integration and innovation. The integration, embedding and upgrading of medical and 5g, artificial intelligence, industrial Internet, cloud computing, 3D printing and other new technologies will further promote the development of medical device industry and the improvement of diagnosis and treatment technology.
Biochemical diagnosis, immune diagnosis, molecular diagnosis and POCT diagnosis are the four main fields of medical diagnosis (in vitro diagnosis), in which immune diagnosis accounts for the highest proportion and molecular diagnosis grows the fastest. Biochemical diagnosis started early in China. It is a routine diagnosis project, focusing on the detection of existing diseases. The growth rate will slow down in the future. Immunodiagnosis is the largest in vitro diagnosis sub industry in China's market segment and is still growing rapidly. High end chemiluminescence has gradually replaced enzyme-linked immunosorbent assay and become the mainstream immunodiagnosis method in China. Molecular diagnosis technology has been developing for a short time, with low market concentration and small scale, but it is now in a rapid development stage all over the world. It has unique detection advantages for infectious diseases, precise treatment of tumors and possible genetic diseases. POCT diagnosis is characterized by fast, simple and low price. Most products are small instruments and reagents, which benefit from factors such as graded diagnosis and treatment, and the market capacity is rapidly enlarged.
(2) Market competition
In terms of the scale of medical device innovation in Europe and the United States, China still leads the global medical device market year by year. The promotion of international cooperation between industry and technology and the continuous acceleration of the global application of advanced medical technology have promoted the process of product iteration and industrial integration and upgrading. The pace of clinical application of Innovation Medical Management Co.Ltd(002173) devices in the Chinese market has been significantly accelerated, and the industry integration concentration in subdivided fields has been significantly improved.
In the field of medical diagnosis (in vitro diagnosis), the reagent barrier is low, the market is relatively scattered and the competition is fierce. The localization rate of biochemical reagents has reached more than 70%. Domestic manufacturers have a great penetration in the non-public and county and municipal markets. The growth of reagents driven by instruments is still the most important growth mode of biochemical business, and the import replacement (especially medium and high speed measuring instruments) is the biggest performance driving force. In terms of immunodiagnosis, chemiluminescence products have become the most potential track with high sensitivity and accurate quantitative detection. The market scale of high-end chemiluminescence has reached more than 70% of the total immunodiagnosis market. The increase in the penetration rate of domestic manufacturers' secondary hospitals and the import substitution of tertiary hospitals have guaranteed the development space. In terms of molecular diagnosis, benefiting from the development trend of precision medicine and the continuous upgrading of technical means of molecular diagnosis itself, it is expected to maintain rapid growth for a considerable period of time in the future. PCR and nucleic acid molecular hybridization in various technical platforms are mature. At the same time, the cost of gene sequencing as the forefront of molecular diagnosis has decreased significantly, and will also become the main battlefield for high-quality enterprises outside China in the future. POCT diagnosis has the advantages of small space, low cost, convenient use, high efficiency and high accuracy. It is suitable for grass-roots medical institutions, families and some special scenes (such as supervision and law enforcement). With the aggravation of China's aging and high incidence of chronic diseases, as well as the gradual implementation of graded diagnosis policies, it is expected that the POCT diagnosis market will continue to develop at a high speed in the future, and enterprises with the first layout, especially domestic high-quality enterprises, will also usher in a good opportunity for development with the help of policies and cost advantages.
