On the evening of March 29, Zhejiang Jingxin Pharmaceutical Co.Ltd(002020) ( Zhejiang Jingxin Pharmaceutical Co.Ltd(002020) ) announced the 2021 annual report. During the reporting period, the company achieved an operating revenue of 3.336 billion yuan, a year-on-year increase of 2.39%; The non net profit deducted was RMB 515 million, with a year-on-year increase of 15.49%. The company plans to distribute a cash dividend of 3 yuan (including tax) to all shareholders for every 10 shares.
In 2021, in the face of repeated epidemics, normalization of centralized procurement, dual control of energy consumption and other environmental changes, the company adhered to the development of mental nerve and cardiovascular and cerebrovascular strategic fields, and strengthened key advantageous products with independent R & D and cooperative development of two wheel drive. Through the optimization of product structure and the reform of marketing mode at the marketing end, the company continued to deepen the lean production at the production end and the reform and innovation of management mechanism and system, effectively improved the management efficiency of the company, and achieved stable growth in the profitability of its main business.
improve the marketing power both inside and outside the hospital
In 2021, Zhejiang Jingxin Pharmaceutical Co.Ltd(002020) focused on two core areas and two digestion products, actively built a professional marketing team, deeply cultivated the market inside and outside the hospital, and nearly 900 marketing personnel. In 2022, the company plans to build a marketing team with more than 1000 people to do a good job in team layout and construction for the subsequent launch of innovative drugs and new products.
The company achieved a year-on-year growth of 3.3 billion yuan in the specific business segments of CNS, with a year-on-year growth of 3.25 million yuan in the specific business segments. During the reporting period, the company's CNS business grew rapidly, covering more than 1500 key hospitals, connecting more than 200 national academic leaders in psychiatry and neurology, and more than 5000 experts in key hospitals. According to the statistical data of medical magic cube, jiyike (levetiracetam tablets) ranks first in the hospital market, with a market share of about 43%; Sopranolol (pramipexole tablets and sustained-release tablets) ranks first in the domestic market, with a market share of about 11%, and vitamine (sertraline hydrochloride tablets and dispersible tablets) ranks second in the domestic market, with a market share of about 26%.
The annual sales revenue of cardiovascular (CV) field was 520 million yuan, and the annual delivery volume of CV pipeline increased by 14% year-on-year, of which the year-on-year increase of jingkexin (pivastatin calcium dispersible tablets) centralized mining area exceeded 300%, partially offsetting the impact of centralized mining price reduction on revenue. JINGNUO, jingkexin and jingbisuxin form a statin product portfolio. With the help of centralized purchase of products, the market penetration in the hospital continues to improve, and the layout of out of hospital market and online market is accelerated.
In the field of digestion (GI), the annual sales revenue was 466 million yuan, with a year-on-year increase of 15%, of which the self operated business revenue increased by 30%. According to the statistical data of medical magic cube, the sales volume in Beijing Changle hospital increased by 49% year-on-year in 2021, which was much higher than that of other probiotic preparations; The sales volume of Kangfuxin Liquid in the hospital increased by 26% year-on-year, ranking the first among the enterprises of Kangfuxin Liquid. At the same time, with the implementation of the bid winning of centralized procurement of Hubei alliance in this round, the market share in the hospital is expected to accelerate in the future.
In 2021, in addition to deeply cultivating the in hospital market, the company also accelerated the development of the out of hospital market through pharmaceutical e-commerce, brand, commercial marketing and other ways. The company has successively reached cooperation with customers such as Alibaba health and JD health, the mainstream B2C platforms, and with pharmacist help and one medicine city, the core B2B platforms. The exploration of commercial insurance mode has achieved phased results. The sales of Internet e-commerce has grown rapidly. The sales revenue exceeded 50 million yuan in 2021, with a year-on-year increase of 378%, which has become a new revenue and profit growth point of the pharmaceutical business.
production capacity increased steadily and accumulated growth momentum
In recent years, many varieties of the company have entered centralized mining, and ensuring supply and expanding production has become an important guarantee for consolidating the foundation of growth. The company's solid preparation output increased from 1.6 billion tablets in 2014 to more than 6 billion tablets in 2021. In August 2021, the net amount of funds raised by the company was set to increase by 495 million yuan, which was used for the production capacity improvement project with an annual output of 3 billion solid preparations and the construction project of digital workshop with an annual output of 5 billion solid preparations. Among them, the construction project of digital workshop with an annual output of 5 billion solid preparations has been successfully completed and passed the GMP on-site inspection. The production capacity of preparations has been further released, and the production capacity of solid preparations has exceeded 10 billion tablets.
In terms of preparation cdmo business, in 2021, the revenue of finished drug CMO increased by about 40%, and the business volume has reached 200 million yuan, ranking among the first echelon of finished drug CMO in China, realizing the commercial supply of more than 30 products in total. The company completed technology transfer and submitted official approval for several projects cooperated with European generic drug giant STADA, and realized the first commercial order delivery in January 2022. The Chinese business is expected to realize the commercial supply of the first OEM variety in 2022.
Through continuous lean production, process improvement and new car workshop construction, the two production bases of API Shangyu and Shangrao have continuously reduced the manufacturing cost and further released the production capacity. The production capacity of quinolones has exceeded 4000 tons, and the production capacity of statins and other characteristic APIs has exceeded 400 tons. The project of pharmaceutical raw materials and intermediates with an annual output of 24700 tons in Shandong new base was officially launched, and the total investment of the project is estimated to be 2.047 billion yuan. In terms of international market development, in 2021, the company added three CEP certificates for APIs and submitted CEP or FDA registration applications for three products.
In terms of traditional Chinese medicine, the registration application for improving the quality standard of Kangfuxin Liquid was approved by the State Food and Drug Administration in November 2021; Kangfuxin Liquid enteric coated capsule also obtained the notice of approval for drug clinical trial in August 2021. In terms of capacity construction, in June 2021, Inner Mongolia Jingxin signed an investment contract with the administrative committee of Bayannur Economic Development Zone to invest 200 million yuan to build a new traditional Chinese medicine production base; In December of that year, the company plans to acquire Shaxi pharmaceutical for 205 million yuan, which will increase the products with leading market share such as Paishi granule, Shaxi herbal tea, Suoquan pill and Guxian tablet. At the same time, many potential varieties such as Angong Niuhuang Pill, Runchang Ningshen ointment, concentrated buffalo horn tablet and buxueningshen tablet will be gradually returned to production and listed, so as to promote the new development of traditional Chinese medicine business.
In the medical device sector, Shenzhen Jufeng, a subsidiary, focused on the subdivided fields of medical display and man-machine interface, and was selected into the third batch of national specialized and new "little giant" enterprises of the Ministry of industry and information technology in 2021. Facing the external environment of soaring global chip prices and drastic changes in LCD supply chain, Shenzhen Jufeng actively ensures the order needs of major customers such as GE, Siemens, Philips, Mindray and Kaikai. In the past 21 years, it has successfully matched with endoscopic surgery giants such as Stryker and Pentax.
In addition, in terms of new drug R & D pipeline, guided by clinical value, the company focuses on the fine molecular fields such as epilepsy, depression, insomnia, Parkinson's disease and schizophrenia around the field of mental nerve (CNS), focuses on dyslipidemia and coagulation abnormalities in the field of cardio cerebrovascular (CV), continues to pay attention to heart failure and stroke, and continues to build a new drug pipeline with leading product power. During the reporting period, the total R & D investment of the company was 329 million yuan, a year-on-year increase of 27%.
By the end of the reporting period, the company had developed 11 new drugs (devices), and 6 innovative projects had entered the clinical stage, including 5 that had entered the middle and late stage of clinical practice, and 2 that were expected to be listed in recent three years. At the same time, it is expected that 3 or more will enter the clinical practice every year. Evt201 capsule has completed phase III clinical practice. In the efficacy evaluation indicators such as sleep and awakening, the results reached the primary and secondary key endpoints, and the drug safety and tolerance are good.
