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The strong demand for covid-19 testing reagent has driven the performance explosion of relevant companies, but the intensification of industry competition has also led to a decline in gross profit margin.
On April 27, several manufacturers of in vitro diagnostic products disclosed their financial reports Zhejiang Orient Gene Biotech Co.Ltd(688298) ( Zhejiang Orient Gene Biotech Co.Ltd(688298) ) achieved annual revenue of 10.169 billion yuan, an increase of 211.43% year-on-year; The net profit attributable to the parent company was 4.92 billion yuan, a year-on-year increase of 193.33%.
Zhejiang Orient Gene Biotech Co.Ltd(688298) said that during the reporting period, the company continued to be affected by the global covid-19 epidemic, and the company’s novel coronavirus antigen rapid detection reagent (including family self-test) continued to be invested in the covid-19 epidemic prevention business. The sales performance of the products in the European market continued to grow significantly, reaching a new high, and the business of conventional diagnostic reagents and diagnostic instruments remained stable, which contributed to the continued substantial growth of relevant indicators of operating performance during the reporting period.
The high view continued in the first quarter Zhejiang Orient Gene Biotech Co.Ltd(688298) in the first quarter, the operating revenue was 4.746 billion yuan, a year-on-year increase of 112.28%, and the net profit attributable to the parent company was 2.067 billion yuan, a year-on-year increase of 74.20%.
According to the annual report, in the two years since its listing, Zhejiang Orient Gene Biotech Co.Ltd(688298) Nissan has been able to increase from less than 1 million people / day to the current maximum of 18 million people / day. The company’s overseas sales account for more than 99% and are mainly sold to Europe, America and other developed countries. The gross profit margin reached 74%, a year-on-year decrease of 5.37 percentage points.
Another company in the same industry Hangzhou Alltest Biotech Co.Ltd(688606) ( Hangzhou Alltest Biotech Co.Ltd(688606) ) announced that the company’s annual revenue in 2021 was 1.873 billion yuan, a year-on-year increase of 64.98%; The net profit attributable to the parent company was 766 million yuan, a year-on-year increase of 12.73%.
Hangzhou Alltest Biotech Co.Ltd(688606) also focuses on overseas sales, with a gross profit margin of 55%, but a year-on-year decrease of 27.19 percentage points. The company explained that the average sales price of covid-19 test products in the reporting period was lower than that in the same period last year, and the unit product cost was higher than that in the same period last year, mainly due to the fierce market competition and the change of market supply and demand.
The first quarter revenue was The net profit attributable to the parent company was 1.049 billion yuan, a year-on-year increase of 598.18%
Hangzhou Alltest Biotech Co.Ltd(688606) also announced that Fantian biology, a subsidiary of Fantian biology, plans to take charge of land bidding, auction and plant construction through Yinghai biology, a wholly-owned subsidiary of Fantian biology, and invest in the construction of new diagnostic reagent R & D and production projects, with a total investment of no less than 400 million yuan.
Hangzhou Biotest Biotech Co.Ltd(688767) ( Hangzhou Biotest Biotech Co.Ltd(688767) ) also enjoys the high popularity of the industry. The company achieved a revenue of 1.818 billion yuan in 2021, with a year-on-year increase of 110.09%; The net profit was 834 million yuan, a year-on-year increase of 91.57%; In the first quarter, the operating revenue was 1.017 billion yuan, a year-on-year increase of 106.83%, and the net profit attributable to the parent company was 493 million yuan, a year-on-year increase of 111.25% Hangzhou Biotest Biotech Co.Ltd(688767) 2021 saw an overall gross profit margin of 62%, down 10.92 percentage points year on year.
Recently, antigen detection has been included in covid-19 prevention and control measures, and the industrial chain company may further benefit Citic Securities Company Limited(600030) it is estimated that the demand for antigen detection in China in the short term is mainly the compulsory demand in the sealed area, which is expected to be 3-6 billion yuan / month; In the long run, the demand for self medication guidance may be released intensively, superimposed on the normal demand, which is expected to reach 12 billion yuan / month.
Citic Securities Company Limited(600030) suggest paying attention to the enterprises with strong channels and sufficient production capacity in the antigen detection sector. At the same time, the booming demand for antigen detection in China will drive the market space of 100 billion industrial chain. In addition, domestic enterprises have emerged overseas, and the product power and channels have been verified. The demand for self-test of overseas covid-19 is about several times that of China, and the market scale is further thickened.
