The net profit in the first quarter increased by 367 times in advance. On April 24, Andon Health Co.Ltd(002432) again announced that its U.S. subsidiary has fulfilled the ihealth kit orders in New York and Massachusetts, and has received a total payment of 324 million US dollars (including freight), about 2.097 billion yuan.
The company said that the performance of the above major contracts and orders will have a positive impact on its operating revenue and operating profit in the corresponding fiscal year.
more than 2 billion yuan of overseas payment received
According to the announcement, Andon Health Co.Ltd(002432) US subsidiary received an order with a total amount of about 65.31 million US dollars (including freight) from the Department of health of New York State on December 21, 2021 local time (hereinafter referred to as “New York state order”), and then signed the sales contract of ihealth Kit (hereinafter referred to as “New York state contract”) with the Department of health of New York State on January 10, 2022 local time, The total amount of contract price tax is 120 million US dollars (including freight). To sum up, the orders and contracts of the Department of health of the state of New York in the United States amount to 185MILLION US dollars (including freight).
From December 3, 2021 to January 5, 2022 local time, the company’s U.S. subsidiary obtained the purchase order of ihealth kit from the Executive Office of the Massachusetts federal and Department of health and human services (hereinafter referred to as “Massachusetts order”), with a total contract price tax of US $148 million (including freight).
As of April 22, 2022, us time, Andon Health Co.Ltd(002432) has fulfilled the Massachusetts order and received US $149 million in payment (actual freight increase), about RMB 965 million (calculated according to the central parity of US dollar to RMB exchange rate on April 22, 2022, US $1 = RMB 6.4596, the same below).
However, after reconciliation, it is found that the two purchasing entities of contracts and orders in New York State, namely the Department of health of New York State and health research incorporated, a non-profit organization in New York State, have not completed the purchase of ihealth kits. On April 22, 2022 local time, the US Department of health of New York State communicated and negotiated with Andon Health Co.Ltd(002432) US subsidiary to adjust the purchase amount of orders and contracts in New York state to US $175 million (including freight), about RMB 1.132 billion. Up to now, Andon Health Co.Ltd(002432) has fulfilled the delivery obligations of the above orders and contracts of New York State, and received all the payment from the Department of health of New York state. The above orders and contracts have been fulfilled.
first quarter daily profit of 160 million yuan
It is worth mentioning that Andon Health Co.Ltd(002432) just disclosed the latest progress of the procurement contract signed between its U.S. subsidiary and ACC (U.S. Army contract management command) for about 354 million ihealth kits less than a week before the announcement. As of April 14 local time, ACC of the United States had paid US $411 million to Andon Health Co.Ltd(002432) US subsidiaries, or about RMB 2.623 billion (calculated according to the central rate of US dollar to RMB exchange rate on April 15, US $1 = RMB 6.3896). At present, ACC of the United States has paid a total of US $1.521 billion to its US subsidiaries, about 9.715 billion yuan, which has been paid to the account.
In combination with the previous announcement, Andon Health Co.Ltd(002432) US subsidiary has fulfilled the above contract delivery obligations on March 10 local time. According to the total amount of contract price tax of US $1.775 billion, the company still has about US $254 million in payment yet to arrive.
Since mid November 2021, affected by the U.S. subsidiary ihealth kit obtaining the U.S. emergency use authorization (EUA), the Andon Health Co.Ltd(002432) share price has soared by more than 11 times in more than five months. During this period, the company issued 15 stock trading announcements.
The company announced before trading on April 12 that the net profit attributable to the parent company was 913 million yuan in 2021, a year-on-year increase of more than twice; It is estimated that the net profit attributable to the parent company will reach 14 billion yuan to 16 billion yuan in the first quarter of 2022, with a year-on-year increase of more than 367 times. If calculated according to the median net profit attributable to the parent company, Andon Health Co.Ltd(002432) in the first quarter, the daily profit is expected to exceed 160 million yuan.
For the reasons for the large increase in performance, Andon Health Co.Ltd(002432) said that due to the impact of the epidemic in the United States, the local demand for covid-19 antigen detection kit products has increased greatly. The company’s U.S. subsidiary sold ihealth kit products through its own channels and Amazon platform, and signed major contracts and orders with customers. The growth of sales revenue of the product made an important contribution to the company’s performance during the reporting period.
However, the company also suggested that in view of the unpredictability of the epidemic development, the promotion of vaccination plan, the change of market demand and the change of market competition environment, there is still some uncertainty whether the future performance can continue to maintain high-speed growth.
