Securities code: Boji Medical Technology Co.Ltd(300404) securities abbreviation: Boji Medical Technology Co.Ltd(300404) Boji Medical Technology Co.Ltd(300404)
Record of investor relations activities
□ specific object research □ analyst meeting
Investor relations event □ media interview □ performance briefing
Event category □ press conference □ Roadshow
□ site visit
■ others (investor telephone exchange)
Shanghai Securities, Huafu, Fuguo, Wen Yan, Kaiyuan securities, Minsheng securities, Shanghai Securities, Kaishi fund, southwest self operated, Jianlong asset management, Dingfeng, GF fund, Orient Securities Company Limited(600958) , Jinyuan Hengli asset management, plais, Xiangju capital, Oriental self operated, CITIC Prudential, saddle capital Guangzhou, e fund, Soochow Fund, Heqing capital, BOC fund, Derui Hengfeng asset management Shanghai from the names of participating units Rong, China Merchants Fund, ICBC Credit Suisse, Wanhe securities, Futon investment, Mingya fund, Guangdong and personnel Huiyang, guolian’an fund, Pengyang fund, Tianhong fund, Taixin fund, Shanghai Investment Morgan, Shenzhen Hongding, Gangli, Huian fund, Galaxy fund, Xinhua pension, Ruifeng fund, Shanghai Shangjin, Jinglin, Oxbow, Guoxin Hongsheng, Taikang assets Hengyue fund, Huarui Internet, Shenzhen Yujin, Qingdao Xingyuan, Cathay Pacific Fund, YONGYING fund, Jiangsu Ruihua, Xishui investment, Huashang fund, Sealand Securities Co.Ltd(000750) , Dongzheng asset management, Nord, Zhongrong, Boshi fund, Huabao trust, Taiping fund, daozhicheng and Ping An Life Insurance
Time: afternoon of Friday, April 1, 2022
Location: Guangzhou
Reception of the chairman and general manager of the listed company: Wang tingchun
Name: Deputy General Manager and Secretary of the board of directors: Wei Fangqun
1. The management introduces the operation of the company
Investor relations activity 2. Communication and interaction:
Question 1: how about the company’s orders on hand and the proportion of each business segment? What is the proportion of innovative drugs and generic drugs in clinical practice? Order transfer of each business segment
What is the cycle of urbanization?
A: (1) by the end of June 2021, the company had about 1.2 billion unrecognized revenue orders on hand, and the order structure of unrecognized revenue on hand was roughly the same as that of each business segment. (2) The company’s clinical business has been transformed from generic drugs to innovative drugs since the beginning of 2017. Innovative drugs account for more than half of the company’s new orders, and the order amount of generic drugs is declining. Among the major clinical projects in phase I, II and III, the number of innovative drug projects accounts for more than 70%.
(3) The conversion time of clinical orders is relatively long, with an average of about four years. For a very small number of orders signed simultaneously in phase I, II and III clinics, the time will be longer; Preclinical transformation takes about two years; At present, cdmo business is basically clinical sample processing and production, which can usually be transformed in that year; The transformation of registered consulting business takes two years.
2. Other problems in the process of team building of the company? What types of customers will the new orders come from this year?
A: (1) since 2016, with the introduction of a series of policies such as accelerating the review and approval of national innovative drugs, the number of innovative drug approvals has increased significantly. In this environment, Boji Medical Technology Co.Ltd(300404) complies with the development trend of the new drug market and realizes the transformation to innovative drugs through the layout of some columns, which is mainly reflected in: first, personnel construction is the most important, and in medicine, Dr. Meng Yuru, a postdoctoral doctor in tumor immunity of Northwestern University School of medicine, was introduced; In terms of regulations, Dr. Zhang Xuehui, who once worked as a CDE reviewer, has rich experience in the field of innovative drug review, has smoother communication with the review institutions and can serve customers more efficiently; Dr. LV Leiyan was introduced into the digital system; Five doctors including Zuo Lian were introduced before clinical treatment; In the past two years, the company has introduced a total of 12 high-end talents above doctoral level. Second, the clinical implementation level has also made a lot of layout, with clinical department and supervision department set up to conduct resident supervision all over the country. Third, the business strategy has also been adjusted. In 2021, business teams were established in Beijing, Shanghai and Chengdu, completing the localized management of business, and integrating clinical and preclinical business.
(2) The company’s orders are expected to mainly come from several aspects: first, new drug R & D projects of traditional pharmaceutical enterprises; Second, the holder company established by China sales company entrusts cro company to carry out R & D work; Third, a start-up innovative drug company founded by overseas returnees.
Question 3: please introduce the current progress of the company’s “3CL” project.
A: the company is developing oral therapeutic drugs against covid-19 virus, which are optimized based on the existing structure according to the action mode of existing compounds or drugs with covid-19 virus 3CL protein, and obtain candidate compounds with independent intellectual property rights and better drug properties. At present, the optimization of lead compounds has been completed, and it is about to enter the virus inhibition experiment at the cell level and animal level. The relevant technical scheme has submitted a patent application, and the project is still in the stage of drug discovery. Question 4: please introduce the company’s cdmo capacity.
A: at present, the income of cdmo, a subsidiary company of science and Technology Park, is still relatively low. At present, chemical API workshop, oral solid workshop, eye drops workshop and traditional Chinese medicine extraction workshop have been built. At present, it mainly focuses on clinical sample processing and production reporting by the holder. At present, one variety has obtained the listing license, and many other varieties are still in the production reporting and R & D stage, so the machines and personnel basically operate at full capacity, but the current output value is not high, The production capacity can be further released only after it is approved. The company has also cooperated with local governments to expand production capacity. The cdmo plant of small water injection and freeze-dried powder injection built by the company in cooperation with Xinxiang, Henan Province will be delivered for trial production this year; The production platform of complex injection jointly built by two rivers in Chongqing has been installed at present. After successful commissioning, the production capacity will also be expanded.
Question 5: what are the well-known customers of the company’s innovative drugs?
A: in the preclinical aspect, the company can undertake the integrated services of innovative drugs from pharmacy, synthesis, preparation, efficacy and toxicology to ind application. The more well-known projects include the anti tuberculosis class 1 new drug of Guangzhou Hohhot Research Institute, the innovative drug project of Harbin Medical University, the compound project of Jinan University for the treatment of senile dementia, etc.
In the clinical business, there are the phase III clinical research of hepatitis drugs of Xi’an Xintong, the new tumor drug project of the national nano center, etc. In other aspects, there are projects of overseas returnees entrepreneurial team, including phase I clinical, Ind declaration, etc. the initial order amount is small, but after transformation to the later stage, the order amount will be gradually enlarged.
Question 6: in terms of the company’s clinical business, has the big clinical business and SMO business been split? A: the SMO business is undertaken by Shanghai farmars, a wholly-owned subsidiary. Part of its function is to undertake Boji’s SMO related work. However, there are few orders from the parent company, most of which come from outside the market. Last year, SMO orders increased significantly.
Question 7: what is the conversion rate of the company’s preclinical services to clinical business?
A: there are two types of projects that are transformed from preclinical to clinical. One is the project of preclinical integrated service. After obtaining ind, the company will continue to do clinical projects with a high probability; One is the preclinical project that only provides single services, which has a low conversion rate to clinic, but also provides business channels, which can promote business cooperation in the future. Cdmo business and clinical business also have mutual diversion. Generally speaking, the layout of the company’s integration has been gradually reflected in the synergy of various businesses.
Question 8: how to view the future development direction of cro company under MAH system? A: the company believes that the general direction of new drug research and development in the future is innovative drugs. Cro company must face the process of transformation from generic drugs to innovative drugs, and the company has basically completed the transformation.
Question 9: what is the future layout and planning of the company? What are the advantages of the company?
A: (1) the company is mainly clinical, and will continue to give full play to its clinical advantages and undertake more orders for innovative drugs in the future.
(2) In recent years, the company has been strengthening the construction of personnel team. We have done a lot of projects in the field of liver disease and digestion, which are highly recognized by customers. We have rich expert resources. In the past two years, we have focused on the field of cancer and recruited talents in cancer.
(3) Traditional Chinese medicine has always been the characteristic field of the company. In order to give better play to the advantages of the company in the field of traditional Chinese medicine, the company will integrate the clinical and preclinical business of traditional Chinese medicine into Xinglin traditional Chinese medicine, a wholly-owned subsidiary of the company, in 2021. In the future, it will also integrate the traditional Chinese medicine industrial park cooperated with the government to build a company with integrated services of traditional Chinese medicine.
Question 10: what are the items of traditional Chinese medicine? Can you give us a detailed introduction?
A: at present, the company has many traditional Chinese medicine projects in service, such as Ginkgolide B project. The company provides preclinical and clinical research services. At present, at the end of phase I clinical trial, its indication is cerebral infarction; The prescription of the saltpeter Gandan granule project comes from the experience of many years of clinical application of traditional Chinese medicine. At present, in the preparation stage of phase II clinical trial, its indication is cholecystitis.
Question 11: what is the expected volume of the company in the next few years?
A: in recent years, the company’s revenue has maintained steady growth. The company has also recently disclosed the performance objectives of the equity incentive plan, but with the completion of the company’s equity investment projects, GLP
Cdmo and innovative drug R & D platform undertake more orders. We believe that the revenue can achieve a higher growth level in the next few years, and the net profit will be greatly improved. The management of the company is full of confidence in the long-term development of the company.
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