On April 24, Guangzhou Wondfo Biotech Co.Ltd(300482) ( Guangzhou Wondfo Biotech Co.Ltd(300482) ) released the annual report of 2021 and the first quarter report of 2022. In 2021, the company focused on the main channel of in vitro diagnosis and achieved a relatively stable growth under the condition of a high year-on-year base, with an operating revenue of 3.361 billion yuan, a year-on-year increase of 19.57%; The net profit attributable to the parent company was 634 million yuan, a year-on-year increase of 0.04%. In the first quarter of 2022, the demand for covid-19 antigen detection reagent in Chinese and foreign markets soared, and the company realized an operating revenue of 2.625 billion yuan, a year-on-year increase of 276.87%; The net profit attributable to the parent company was 904 million yuan, a year-on-year increase of 481.32%.
conventional business grows rapidly and covid-19 business contributes significantly
In 2021, the company achieved a sales revenue of 1.916 billion yuan from routine business, with a year-on-year increase of 38.18%. The four product lines of chronic disease management, infectious diseases, drugs (drug abuse) and eugenics and fertility testing all achieved rapid growth. The chronic disease management product line grew the fastest, with a revenue of 916 million yuan, a year-on-year increase of 60.72%. In the Chinese market, the company provides multi-dimensional and multi scenario solutions for critical and severe diseases such as cardiovascular diseases, hemorrhagic and coagulation diseases and respiratory emergencies, strengthens the construction of five major medical centers for critical and severe diseases, and realizes the integrated construction of instruments, reagents, quality control products and POCT quality management system; In foreign markets, the company vigorously promoted the localization operation strategy of key countries, promoted the strong coverage of various key POCT markets, and the significant increase in the demand for covid-19 auxiliary diagnosis indicators also led to the significant increase in the installed capacity and terminal coverage of immunofluorescence instruments, and some detection projects had explosive growth.
In 2021, the company realized covid-19 business revenue of 1.145 billion yuan, a year-on-year increase of 9.61%. With Delta and Omicron becoming the dominant pandemic strains, the demand for covid-19 antigen detection reagents in the global market has been maintained at a high level. Relying on its technological and manufacturing advantages, the company has increased production and capacity. Covid-19 antigen detection products have been exported to more than 100 countries and regions in Europe, Asia, Latin America and the Middle East, making continuous contributions to the global anti epidemic.
In the first quarter of 2022, covid-19 business of the company achieved explosive growth. The company actively promotes the registration and access of covid-19 antigen self-test products in many countries and regions around the world, and has successively obtained the registration and access of EU CE, Brazil Anvisa, Australia TGA, Thailand TFDA and Malaysia MDA. After the outbreak of the epidemic in Hong Kong, the company actively participated in the aid supply of epidemic prevention materials in Hong Kong. In March 12th, the SFDA issued a notice to approve the application of New Coronavirus’s (2019-nCoV) antigen detection kit, making the company one of the first batch of approved enterprises of COVID-19 antigen products in China. The company will give full play to its advantages in products, production capacity and location to serve the overall situation of epidemic prevention and control. At the same time, it will focus on the main channel of in vitro diagnosis, adhere to the business development idea of steady operation, implement the development theme of “quality cattle, fighting the world”, and achieve sustained and steady growth.
high R & D investment drives the full flowering of new business
In 2021, the company’s R & D investment reached 459 million yuan, a year-on-year increase of 43.73%. The company has obtained 60 product registration certificates, including 18 new Chinese product registration certificates and 42 overseas product registration certificates. The company has completed 65 new product development, covering the extension of mature platforms, the expansion of product lines of new platforms and the development of covid-19 related products.
In the field of chemiluminescence, Guangzhou Wondfo Biotech Co.Ltd(300482) wholly-owned acquisition of Tianshen medical, which focuses on “single copy” luminescence, further enriches the company’s application scenarios and product sequences in the field of chemiluminescence, and can form a good synergy and supplement with the company’s self-developed “tubular luminescence”. In the field of molecular diagnosis, Guangzhou Wondfo Biotech Co.Ltd(300482) has fully independent intellectual property rights, and the automatic rapid nucleic acid amplification and detection system “youbosi” has been officially approved in China. In the field of pathology business, the company’s automatic immunohistochemical staining machine pa3600 and secondary antibody system were officially listed, which improved the business chain of “swelling mark – immunohistochemistry – Digital Pathology – concomitant diagnosis”, and has the ability to provide an integrated solution for the pathology department.
deepen the market layout and improve the “Wanfu ecosystem”
Since 2021, the company has reached business cooperation agreements with many medical giants outside China. The company has reached a cooperation agreement with AstraZeneca to strengthen the international cooperation and promotion in the early screening and early diagnosis of prostate cancer, and explore the international development road of the whole course management of prostate cancer; Wanfu Katis, a subsidiary, reached an agreement with AstraZeneca to jointly promote the integration of precision diagnosis and treatment in the field of tumor precision diagnosis and treatment and promote the development of medical health in the county; The company has reached a strategic cooperation agreement with Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) to conduct in-depth cooperation on the overall solutions of smart laboratory and district inspection center, and cooperate to explore the construction of hospital smart laboratory; The company cooperates with Merck to improve the accessibility of grass-roots thyroid function testing and help improve the ability of grass-roots thyroid disease diagnosis and treatment. Through the organic interaction and strategic coordination with various subjects of “Wanfu ecosystem”, the company’s business interface has been rapidly expanded.
In the face of the changing market environment, Guangzhou Wondfo Biotech Co.Ltd(300482) always adheres to the product strategy of “innovation driven and Scenario Oriented”, takes improving operation efficiency, launching new products and services and establishing new strategic alliances as the main work direction, and takes the construction and intellectualization of digital platform as the breakthrough of strategic transformation to promote the implementation of strategy and the rapid growth of business.
