The proportion of overseas sales revenue in the company's total operating revenue is still low.
After a storm of questioning from Wang Sicong on the Internet, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) 4 closed at the limit. As of the closing, the Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) share price was at 35.99 yuan / share, down 10%. Correspondingly, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) closed on April 14.
Previously, on the morning of April 14, Wang Sicong, a well-known Internet user, forwarded a microblog about "the reason why Lianhua Qingwen was recommended by who", questioned Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) and said, "the CSRC should strictly investigate Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) ." Shortly after the microblog was released, Wang Sicong deleted the comment.
According to the closing price on April 14, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) quoted 39.99 yuan / share, corresponding to a total market value of 66.9 billion yuan. Since this year, the share price has increased by 104%.
What is the driving force of stock price fluctuation? What is the overseas sales situation of Lianhua Qingwen behind the association with "who" on the Internet? Without the influence of covid-19 epidemic, what is the driving force of Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) 's future performance growth?
On April 15, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) responded to the shell finance reporter of Beijing News, "at present, Lianhua Qingwen has a good overall sales growth trend in more than 20 registered countries, but due to the large scale of China's overall sales revenue, the proportion of overseas sales revenue in the company's total operating revenue is still low."
the share price has risen since this year 104% Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) : the proportion of overseas sales revenue is still low
Lianhua Qingwen series products are respiratory products of Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) . It can be seen from the performance in the first half of 2021 that the revenue of Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) respiratory products continued to increase to 2.492 billion yuan, and the gross profit margin increased to 72.9%, which is already the category with the highest gross profit margin of Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) respiratory products.
According to the semi annual report of 2021, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) in the first half of the year, the operating revenue was 5.896 billion yuan, an increase of 31.41% year-on-year in 2020, and the net profit attributable to shareholders of listed companies was 964 million yuan, an increase of 34.99% year-on-year.
At this time, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) has made great efforts to break through the overseas market. At that time, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) announced that Lianhua Qingwen had completed its registration in more than 20 countries and regions, and actively arranged the international registration work in more than 30 countries and regions. "Compared with the same period last year, Lianhua Qingwen had better overall sales in registered countries."
Since the second half of 2021, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) has made new progress in its overseas business. On April 7, 2022, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) replied to investors that Lianhuaqingwen has been registered, approved and sold in more than 20 countries in Asia (Singapore / Laos / Thailand / Indonesia / Philippines, etc.), Africa (Kenya / Zimbabwe / Liberia, etc.), North and South America (Canada / Brazil, etc.), Europe (Russia / Romania, etc.).
On April 15, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) told the reporter of shell finance and economics that in addition to China, Lianhua Qingwen has also obtained covid-19 indications in Kuwait, Mongolia, Laos and other countries; In Uzbekistan, Lianhua Qingwen was included in the white list of anti epidemic drugs issued by the Ministry of health; In Thailand and Cambodia, Lianhua Qingwen was allowed to enter covid-19 designated pneumonia hospitals to treat local patients; In July 2021, Lianhua Qingwen was also selected into the covid-19 home treatment scheme for patients with mild pneumonia issued by the Ministry of health of Cambodia.
The reporter noted that the identity of Lianhua Qingwen in the sales of overseas countries is not always "anti epidemic drugs", but includes the identity of "botanical products", "botanical drugs", "supplementary drugs" and "Chinese patent medicine".
Data show that for Lianhua Qingwen, the most important thing is China's sales. In the first half of last year, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) had a revenue of 5.7 billion yuan from China, accounting for 96.72% of the revenue, while the revenue from foreign regions was only 190 million yuan, accounting for 3.28%.
On April 15, the shell finance reporter of Beijing News asked Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) about the latest situation of Lianhua Qingwen's overseas sales. The company responded, "at present, Lianhua Qingwen's overall sales growth trend in more than 20 registered countries is good, but due to the large scale of China's overall sales revenue, the proportion of overseas sales revenue in the company's total operating revenue is still low."
In fact, the "Lianhua Qingwen recommended by who" circulated on the Internet is not true.
The reporter noted that the "association" between Lianhua Qingwen and who was caused by media reports on April 6. The WHO released the report of the "World Health Organization expert evaluation meeting on traditional Chinese medicine against covid-19 pneumonia" on its official website, which mentioned that, "Traditional Chinese medicine can effectively treat covid-19 pneumonia, reduce the possibility of mild and common cases turning into severe cases, shorten the virus clearance time, and improve the clinical prognosis of patients with mild and common covid-19 pneumonia."
Importantly, it also mentioned that "Chinese experts showed the clinical research basis of traditional Chinese Medicine report, including the clinical data of 284 patients treated with traditional Chinese medicine capsule (Lianhua Qingwen capsule) in 23 hospitals in 9 provinces of China. The data showed that the recovery time of symptoms of patients taking this medicine was shorter than that of patients not given traditional Chinese medicine intervention."
The content of the above report was wrongly fermented on the Internet and became positive information such as "Lianhua Qingwen was recommended by who" Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) share price rose again, with the limit rising on April 6 and 7, and the transaction price reached a high of 43.12 yuan / share on April 11.
As a listed company, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) has never disclosed the clinical data of Lianhua Qingwen in the form of announcement. The reporter of shell finance searched on the investor interaction platform and found only Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) previously responded to the investor's relevant content about Lianhua Qingwen clinical trial.
On April 15, the reporter asked Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) about the information disclosure of this content, and the person in charge of Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) responded, "Since the listing of Lianhua Qingwen, a number of authoritative scientific research institutions in China have carried out a series of basic and clinical research around Lianhua Qingwen. Many research results have been published in academic journals outside China. They are academic achievements in the field of scientific research, but they do not belong to the scope of mandatory information disclosure of listed companies. The company has not published any announcement on the basic and clinical research results related to Lianhua Qingwen.
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covid-19 recommended drugs for diagnosis and treatment. The growth rate of net profit in the first three quarters of the year has slowed down
It was recommended for use in China's New Coronavirus pneumonia diagnosis and treatment program in April 2021.
In March 18th, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) announced that the "New Coronavirus pneumonia diagnosis and treatment plan (trial version ninth)" was jointly published by the national health and Health Commission and the State Administration of traditional Chinese medicine (TCM). It was included in the traditional Chinese medicine treatment period and the clinical treatment period (confirmed cases).
After the release of this information, investors kept asking about the sales of Lianhua Qingwen, and Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) share price also rose one after another.
In fact, since the outbreak of COVID-19, Lianhua Qingwen capsules (granules) have been continuously recommended by New Coronavirus pneumonia diagnosis and treatment plan (Trial fourth / five / six / seven / eight / nine Edition) as the recommended period for Chinese medicine treatment.
At the same time, the sales volume of Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) Lianhua Qingwen products surged. In 2020, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) the net profit attributable to the shareholders of the listed company was 1.219 billion yuan, with a year-on-year increase of 100.95%. In the first three quarters of 2021, the company's Lianhua Qingwen products achieved an operating revenue of 3.37 billion yuan, accounting for 41.6% of the company's total operating revenue.
The reporter of shell finance and economics noted that Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) currently does not disclose the performance forecast, performance express and other information about the financial report of 2021, nor the relevant financial data of the first quarter of 2022.
According to the latest financial data, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) 2021 in the third quarter, the net profit attributable to the shareholders of the listed company was 260 million yuan, a year-on-year decrease of 14.02%, and the net profit attributable to the shareholders of the listed company from January to September was 1.224 billion yuan, a year-on-year increase of 20.43%.
This means that the profit growth in the first three quarters of Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) 2021 has slowed significantly. If covid-19 epidemic situation is not considered, how can Lianhua Qingwen, the flagship product of Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) keep the performance growth?
Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) relevant person in charge responded to the reporter of shell finance that Lianhua Qingwen has multiple effects, such as broad-spectrum antiviral, bacteriostatic and anti-inflammatory, effective prevention and treatment of lung infection, and improvement of body immunity. In terms of sales, "the company has optimized, upgraded and reformed its marketing system in recent two years, established a respiratory division, accurately promoted Lianhua Qingwen and Lianhua Qingke products, increased the number of salespeople and improved the coverage of grass-roots medical terminals", "We also hope to obtain more clinical evidence to expand the application scenario and market space of Lianhua Qingwen. The clinical trial of Lianhua Qingwen in the prevention of influenza will be launched in the future."
price reduction reaches 37.88% how does the proposition of centralized purchase affect the performance
On April 12, with the continuous rise of share price, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) transaction price hit a record high, reaching 43.12 yuan / share. But then, affected by the news of the price reduction of Lianhua Qingwen products in centralized purchase, Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) share price plunged.
On April 8, Guangdong Pharmaceutical Trading Center released and publicized the results of the proposed selection / selection of Guangdong alliance Qingkailing and other Chinese patent medicines in centralized volume procurement, which showed that 10 bags / box of Lianhua Qingwen granules were included in the proposed selection list, and the price of each bag was 2.3295 yuan.
According to the calculation of shell finance reporter, according to the usage and dosage of Lianhua Qingwen granule, the daily price of the drug is 6.9885 yuan for adults with the dosage of 3 bags per day.
According to the previous centralized purchase documents, the maximum daily average cost / maximum effective application price of Lianhua Qingwen granule (sugar type) is 11.25 yuan.
In the centralized procurement of Chinese patent medicines such as Qingkailing of Guangdong alliance, the highest daily average cost / highest effective bid price (yuan) of Lianhua Qingwen.
In contrast, Lianhua Qingwen granule entered the centralized mining this time, and the price reduction rate reached 37.88%.
However, it is worth noting that only "Lianhua Qingwen Granule" entered the final centralized procurement publicity list this time, and tablets and capsules are not among them. In addition, "Lianhua Qingwen Granule" is a "proposed alternative" product.
Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) 4 / 15: in response to the reporter of shell finance and economics, Lianhua Qingwen products were included in the centralized volume procurement of proprietary Chinese medicines by the alliance of six provinces including Guangdong, and the price decline is relatively controllable. The specific information is subject to the results published on the official website of "Guangdong pharmaceutical trading center". The company will also strengthen cost control and efficiency increase in the future and strive to achieve a relatively stable net interest rate.
On April 15, the reporter called Guangdong pharmaceutical trading center and learned that the "proposed alternative" products belong to the enterprises that participated in the P1 and P2 bidding at the same time but failed to win the P2 bidding, and their corresponding products are the proposed alternative products. "P1" and "P2" here refer to two step quotation. According to the previous centralized purchase documents, the decrease of P1 shall be greater than or equal to 1%, and the decrease of P2 shall be greater than P1 and greater than or equal to 11%.
The reporter noted that according to the rules for determining the candidate enterprises in the purchase order P1 of exclusive product a, the pre purchase quantity of the candidate enterprises in P1 corresponding to the alliance area in the first year of the enterprise's purchase period mainly depends on the price reduction, "the proportion of pre purchase quantity in the first year = 5% for every 1% decrease, up to 100%".
According to the 37.88% decline of Lianhua Qingwen granule, it can reach the maximum purchase quantity. According to the reported volume of pharmacies, medical institutions and social medical institutions in the purchase documents at that time, the total reported volume of Lianhua Qingwen granules was 34.203 million bags. Referring to the price of 2.3295 yuan / bag, the corresponding income is nearly 80 million.
