Today (January 11), the pharmaceutical sector broke out again, among which the concept sub sectors led by covid-19 detection, pharmaceutical commerce and traditional Chinese medicine led the rise, and individual stocks also ushered in the trading tide again. As of the closing, covid-19 detection plate, Jiangsu Skyray Instrument Co.Ltd(300165) , Asahi biology, Shenzhen Yhlo Biotech Co.Ltd(688575) , Chemclin Diagnostics Co.Ltd(688468) , Changzhou Qianhong Biopharma Co.Ltd(002550) , Andon Health Co.Ltd(002432) , Shanghai Kehua Bio-Engineering Co.Ltd(002022) rose by the limit; Pharmaceutical business sector, Guangxi Liuzhou Pharmaceutical Co.Ltd(603368) , Shanghai Kaikai Industry Company Limited(600272) , the first pharmaceutical trading limit; In the traditional Chinese medicine sector, Ji Yao Holding Group Co.Ltd(300108) , Chongqing Pharscin Pharmaceutical Co.Ltd(002907) , Kpc Pharmaceuticals Inc(600422) , Kunming Longjin Pharmaceutical Co.Ltd(002750) , Guangdong Zhongsheng Pharmaceutical Co.Ltd(002317) , Dong-E-E-Jiao Co.Ltd(000423) , Dali Pharmaceutical Co.Ltd(603963) limit, of which Shanghai Kaikai Industry Company Limited(600272) has recorded seven consecutive boards.
three factors ignited the market of traditional Chinese medicine, and the testing industry benefited from strong demand
Today (January 11), traditional Chinese medicine and covid-19 detection plates broke out again, and individual stocks set off a trading tide. The traditional Chinese medicine sector has been active since the end of last year. As of today's closing, according to the rise and fall of nearly 20 days, Kunming Longjin Pharmaceutical Co.Ltd(002750) , Gansu Longshenrongfa Pharmaceutical Industry Co.Ltd(300534) , Jinghua Pharmaceutical Group Co.Ltd(002349) doubled, Tianjin Chase Sun Pharmaceutical Co.Ltd(300026) increased by nearly 94%, Guiyang Xintian Pharmaceutical Co.Ltd(002873) increased by nearly 87%, China Resources Sanjiu Medical & Pharmaceutical Co.Ltd(000999) increased by nearly 53%, Chongqing Taiji Industry (Group) Co.Ltd(600129) , Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) and other 9 shares increased by more than 40%, and the proportion of individual stocks increased by more than 10% in the sector reached 85%.
The traditional Chinese medicine sector mainly benefited from favorable policies, strong demand side and high valuation cost performance. For the future, Northeast Securities Co.Ltd(000686) believes that under the background of the joint action of the current demand side, policy side and valuation side, investment opportunities are expected to exist in the following three directions: Traditional Chinese medicine enterprises that benefit from consumption upgrading and layout in the field of "great health", traditional Chinese medicine enterprises that are expected to benefit from reform and policy benefits, and some traditional Chinese medicine enterprises with high valuation and cost performance at present. However, some institutions pointed out that the later stage of valuation and repair of traditional Chinese medicine will usher in the performance verification stage.
According to Guotai Junan Securities Co.Ltd(601211) securities, the extreme discount of traditional Chinese medicine plate relative to the overall medicine has significantly converged, although the valuation of a few stocks is still lower than the average of the plate, its overall valuation cost performance is gradually disappearing . Although it is not ruled out that the market inertia will further push up the sector in the short term, resulting in a higher market premium, if the valuation system is to be systematically modified or even anchored, the changes in the underlying logic of the industry still need to be verified by the performance, especially the price raising logic of a few short-term companies will be verified as the financial reporting season approaches, which may promote the differentiation of individual stocks. on the other hand, with the improvement of microstructure deterioration of other high performance boom tracks and the formation of a new balance between valuation and boom, it will also restrict the matching degree between valuation and growth of traditional Chinese medicine plate.
The recent prosperity of covid-19 testing sector comes from the strong demand for testing products. At present, the overseas epidemic is still in a state of anxiety. The demand for covid-19 testing products has increased sharply. The testing products of many listed companies have been certified in Europe and the United States. The rapid growth of foreign trade orders is expected to stimulate the substantial thickening of performance, which drives the outbreak of individual stocks in the sector. As of today (January 11), according to the rise and fall in the past 20 days (except for the listed and ST shares this year), Andon Health Co.Ltd(002432) and Asahi biology have doubled, Zhejiang Orient Gene Biotech Co.Ltd(688298) , Hangzhou Alltest Biotech Co.Ltd(688606) , Beijing Hotgen Biotech Co.Ltd(688068) , Jiangsu Skyray Instrument Co.Ltd(300165) , Xilong Scientific Co.Ltd(002584) have increased by more than 50%.
The performance of 40% of stocks doubled year-on-year, Beijing Hotgen Biotech Co.Ltd(688068) temporarily listed as the king of pharmaceutical pre increase
The pharmaceutical sector continues to be active. On the one hand, it benefits from the high outlook of the industry as a whole. On the other hand, the recently released performance forecasts also contribute to the hot market. As of January 11, 16 pharmaceutical stocks (except ST shares) had disclosed the annual performance forecast for 2021. On the whole, the performance was acceptable. Only one share had negative net profit attributable to the parent, indicating a loss, and generally showed positive growth in the growth of net profit attributable to the parent. There were 6 stocks whose annual forecast performance growth doubled (the lower limit of forecast return to parent net profit growth was greater than 100%), accounting for 37.5%.
Beijing Hotgen Biotech Co.Ltd(688068) is temporarily listed as the pre increase king in the pharmaceutical sector with a performance growth rate of 16.8 times to 19.97 times, followed by Yanan Bicon Pharmaceutical Listed Company(002411) , Guangdong Zhongsheng Pharmaceutical Co.Ltd(002317) , Wuhan Easy Diagnosis Biomedicine Co.Ltd(002932) , Suzhou Nanomicro Technology Co.Ltd(688690) , Guangdong Hybribio Biotech Co.Ltd(300639) . Among them, Beijing Hotgen Biotech Co.Ltd(688068) , Wuhan Easy Diagnosis Biomedicine Co.Ltd(002932) , Guangdong Hybribio Biotech Co.Ltd(300639) benefit from the growth of overseas covid-19 testing reagent revenue, and Suzhou Nanomicro Technology Co.Ltd(688690) benefit from a significant increase in the sales of the company's products over the previous year; Yanan Bicon Pharmaceutical Listed Company(002411) benefits from new energy products and capital subsidies produced by subsidiaries; Guangdong Zhongsheng Pharmaceutical Co.Ltd(002317) the main reason for turning losses into profits in 2021 is that the performance of the previous year was affected by the provision for goodwill impairment.
At present, the whole pharmaceutical sector is showing a differentiation trend. The detection concepts of traditional Chinese medicine and covid-19 continue to strengthen. Last year's star track, such as cro, was cold at the beginning of the year. Zheshang Securities Co.Ltd(601878) believes that since the beginning of 2022, the target of CXO has been continuously adjusted, and the main concerns of the market focus on: the market is worried about the sustainability of the industry's performance after 2023 after covid-19 orders; Through capacity cycle analysis, it is considered that the growth may slow down after 2023. However, Zheshang Securities Co.Ltd(601878) pointed out that compared with the market, it is more optimistic about the unexpected and sustainability of performance growth. It is suggested to dilute the event impact of covid-19 and pay more attention to the improvement of the status of the industrial chain and the accelerated improvement of supply capacity.
As listed companies successively disclose the forecast of their 2021 annual report, some stocks whose performance exceeds market expectations are also expected to usher in an explosive rise, and the annual performance can often be predicted from the performance of the first three quarters. From the year-on-year growth rate of net profit attributable to parent company in the first three quarters of 2021, Beijing Hotgen Biotech Co.Ltd(688068) , Yanan Bicon Pharmaceutical Listed Company(002411) , Northeast Pharmaceutical Group Co.Ltd(000597) , Harbin Medisan Pharmaceutical Co.Ltd(002900) , Zjamp Group Co.Ltd(002758) , Chongqing Taiji Industry (Group) Co.Ltd(600129) , Guangdong Taiantang Pharmaceutical Co.Ltd(002433) , Truking Technology Limited(300358) , Zhejiang Orient Gene Biotech Co.Ltd(688298) ranked among the top ten.
Pharmaceutical companies with the top 20 year-on-year growth rate of net profit attributable to the parent company in the first three quarters of 2021:
(source: financial Associated Press)
