Recently, Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) ( Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) , SH; previous closing price 313.71 yuan) released the annual report for 2021. In 2021, Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) achieved an operating revenue of about 8.02 billion yuan, a year-on-year increase of 23.2%; The net profit attributable to shareholders of listed companies was about 2.43 billion yuan, a year-on-year increase of 45.46%.
The reporter of the daily economic news noted that Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) ‘s core product liver disease medication still contributed a large part of its gross profit. In 2021, liver disease drugs contributed about RMB 3.027 billion gross profit to Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) enterprises, accounting for 74.5% of the total gross profit.
The gross profit margin of liver disease drugs in 2021 was about 81.79%, a slight decrease of 0.16 percentage points year-on-year. The cosmetics and daily chemical industry achieved an operating revenue of about 840 million yuan in 2021, a year-on-year decrease of 7.05%.
In addition, the R & D investment of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) is increasing, and the R & D expenses of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) are doubling in 2021. According to the drug clinical trial registration and information publicity platform, Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) is used in the phase II clinical trial of second-line treatment of unresectable primary liver cancer.
liver disease drug gross profit margin over 81%
By industry, in 2021, the pharmaceutical industry contributed about 7.1 billion yuan of operating revenue to Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) with a year-on-year increase of 27.65%; Cosmetics and daily chemical industry contributed about 840 million yuan of operating revenue to Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) with a year-on-year decrease of 7.05%.
The reporter of the daily economic news noted that Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) did not mention the keyword “one core and two wings” in its 2021 annual report. According to the explanation given in Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) 2021 semi annual report, “one core and two wings” refers to strengthening the two wings of cosmetics, daily chemical products, health products and health food on the basis of consolidating the pharmaceutical manufacturing industry, and expanding the pharmaceutical circulation industry at the same time.
In terms of gross profit contribution, the pharmaceutical manufacturing industry contributed about 3.1 billion yuan to Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) with a year-on-year increase of about 47%; The pharmaceutical circulation industry contributed about 380 million yuan in gross profit, with a year-on-year increase of about 50%; Cosmetics and daily chemical industry contributed gross profit of about 560 million yuan, a year-on-year increase of about 2.9%.
Obviously, the contribution of “two wings” of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) to gross profit in 2021 has a low growth rate, while the contribution of “one core” of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) to gross profit is still in an absolutely dominant position. Whether measured from the two dimensions of income or gross profit, liver disease drugs are the core of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) “one core”.
In 2021, the market demand for Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) was strong, and there was a lot of discussion Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) said that the company judged the situation and solved the problem of “one drug is difficult to find” by opening its own online channels and increasing the amount of Wuxi Online Offline Communication Information Technology Co.Ltd(300959) market.
\u3000\u3000 “First, in terms of special retail, we launched the special retail business of guoyaotang, added Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) Hongren health center and its retail stores to support the special retail supply of capsule dosage forms; second, in terms of online retail, we launched the construction of online sales platform, successively launched the flagship store of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) big pharmacy tmall and Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) big pharmacy Jingdong flagship store, and guaranteed the supply to hedge the malicious speculation in the market. On the day of” double 11 “, we sold Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) lozenges Ranking first in tmall health and JD health hepatobiliary drugs. ” Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) scale.
However, the gross profit margin of liver disease drugs decreased slightly in 2021, with a year-on-year decrease of about 0.16 percentage points.
“During the reporting period, the price fluctuation of important medicinal materials has a certain impact on the cost of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) series products. In the long run, the prices of musk, bezoar and snake gall show an upward trend, which will put upward pressure on the cost of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) series products in the future.” Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) indicates.
start the clinical study on the treatment of liver cancer
In 2021, Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) experienced the resignation of two chairmen.
In April last year, Liu Jianshun, the then Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) chairman, applied to the board of directors for early retirement due to personal physical reasons and resigned from the positions of director, chairman and member of the special committee under the board of directors. In December last year, pan Jie, the former chairman of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) company, resigned from the board of directors, chairman of the board of directors and members of special committees under the board of directors due to work adjustment. Pan Jie no longer held any position in the company.
On December 9, 2021, Lin Weiqi began to serve as the new chairman of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) board.
In the 2021 annual report, Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) did not mention “one core and two wings”, but instead implemented the new strategic blueprint of “multi-core drive and two-way development” Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) said that the board of directors of the company optimized the development strategy in due time.
For the “multi-core drive” strategy, At the end of the Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) 35 \”yes.”
On the whole, the cost of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) in 2021 was well controlled, which is also the reason why the growth rate of its net profit exceeded the growth rate of operating revenue by about 22 percentage points. In 2021, Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) the operating cost increased by about 10.7%, the management expense increased by about 12%, and the sales expense only increased by about 0.6%, while the financial expense has been negative.
In contrast, the company’s R & D expenses increased significantly. In 2021, Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) R & D expenditure was about 200 million yuan, with a year-on-year increase of 104.52%.
According to Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) disclosure, its main R & D project is Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) disease syndrome combined innovation research based on modern disease spectrum. The R & D investment of the project is about 64.71 million yuan in 2021.
Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) said that it adheres to the interpretation of traditional Chinese medicine with modern science, and fully promotes the drug efficacy and clinical research of national first-class protected varieties of traditional Chinese Medicine – Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) focusing on anti-tumor and other directions, and has officially launched the clinical research on Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) increasing the function of treating liver cancer.
In March 2020, Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) announced that the supplementary application for drug registration submitted by Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) lozenge for increasing the main function of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) lozenge for the treatment of advanced primary liver cancer was reviewed and accepted by the State Food and drug administration.
On December 29 last year, Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) publicized for the first time on the drug clinical trial registration and information publicity platform ” Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) second-line treatment of unresectable primary liver cancer (blood stasis and toxin accumulation syndrome) multi center, randomized, double-blind, double simulation, positive drug parallel control phase II clinical trial”, which is currently in “progress”.
The company has officially launched the clinical research of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) increasing the function and main treatment of liver cancer, and carried out more than 40 pharmacological and toxicological, quality standard and clinical research topics of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) and superior varieties, so as to lay a solid foundation for improving the core competitiveness of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) and superior varieties, increasing the scope of clinical application and expanding the market demand.
In addition, learn from the experience of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) secondary development, accelerate the efficacy mining of Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) brand Angongniuhuang pill, Yindan Pinggan capsule and other superior varieties, and promote the secondary development research such as clinical re evaluation and pharmacodynamic mechanism research after listing Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) scale.
