One week's view: the effect of dynamic clearing of the epidemic in Shanghai is obvious, and we are optimistic about the rebound opportunity of the consumer medical sector
The number of newly infected patients with vid in Shanghai decreased from January 19 to April 21, and there were no symptoms in recent weeks; The number of newly confirmed cases decreased from 3804 on April 18 to 1931 on April 21. Although there has been a rebound in the short term, the number of new infections in society has continued to decline to a low level. Meanwhile, the number of people discharged from the cabin in Shanghai on the same day fluctuated from 6378 on April 11 to more than 20000 since April 17. On the whole, the peak number of newly infected people has shown, the number of people discharged from the cabin has maintained a good trend, the effect of dynamic zeroing has shown, and the resumption of work and production is just around the corner. Therefore, we suggest paying attention to the rebound opportunities of the consumer medical sector, including medical services (especially consumer services), traditional Chinese medicine (covid-19 treatment + brand OTC consumption attribute concept), retail pharmacies (the passenger flow to the store is expected to rebound after returning to work and production), medical beauty (strong consumption attribute) and other segments.
One week's view: optimistic about covid-19 prevention and treatment recommended products and brand OTC sector of traditional Chinese Medicine
We believe that the centralized purchase of Chinese patent medicine is not expected to decline in price, but based on its cost and ensuring a certain profit space for Chinese medicine enterprises. Secondly, in terms of the scope of centralized purchase, the OTC of brand Chinese medicine is expected to be included in the volume purchase because there are fewer varieties in the medical insurance catalogue and more consumption attributes. The main sales channel is at the retail end rather than public medical institutions. Therefore, OTC of brand traditional Chinese medicine has certain attributes of centralized purchase and risk avoidance, and has high price maintenance ability.
One week's view: the same store growth rate of retail pharmacies has gradually warmed up, and the passenger flow of pharmacies has increased under the resumption of work and production
The same store growth rate of retail pharmacies has gradually warmed up, and the passenger flow of pharmacies has increased under the resumption of work and production, which is expected to usher in performance improvement in 2022q2. By the end of 2021, the growth rate of leading retail pharmacies in the same store has recovered as a whole. The operation of 2022q1 drugstore is affected by a certain epidemic, and the recovery rhythm of the same store growth rate has slowed down. Based on the base number of 2021q2 has returned to the normal level, we expect the same store growth rate of 2022q2 retail drugstore to return to the growth of previous years, which is expected to improve month on month (Q1) and achieve steady growth in performance. The downward inflection point of the epidemic in Shanghai appears. Based on the significant increase in the same store growth rate of pharmacies in April 2020 under the resumption of work and production, we are optimistic about the improvement of the passenger flow of pharmacies under the resumption of work and production in Q2 and help the recovery of performance.
Recommended and benefited objects
It's a matter of recommendation to be featured with the following: ofthe following: ofthe following: '' '' '' the Huadong Medicine Co.Ltd(000963) (the above ranking is not in order). The subject of the beneficiary object is: Nanjing Vazyme Biotech Co.Ltd(688105) Imeik Technology Development Co.Ltd(300896) , Bloomage Biotechnology Corporation Limited(688363) , Furui medical technology, Sihuan medicine Tianjin Zhongxin Pharmaceutical Group Corporation Limited(600329) , Zhejiang Shouxiangu Pharmaceutical Co.Ltd(603896) , Hubei Jumpcan Pharmaceutical Co.Ltd(600566) , Xiangxue Pharmaceutical Co.Ltd(300147) , Hunan Hansen Pharmaceutical Co.Ltd(002412) , Chengdu Kanghong Pharmaceutical Group Co.Ltd(002773) , Kpc Pharmaceuticals Inc(600422) (in no order).
Tips on the risk of black swan epidemic affecting the production and operation of the industry.
