Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) (603392. SH) shares fell today, closing at 209.60 yuan, down 6.23%.
On May 11, 2021, Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) issued the announcement on the implementation of annual equity distribution in 2020, distributing cash dividends of 0.25 yuan (including tax) per share and bonus shares of 0.4 shares per share to all shareholders. On August 3, 2021, Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) hit the highest share price of 299.77 yuan since its listing.
On August 18, 2021, Zhongtai Securities Co.Ltd(600918) researcher Zhu Jiaqi released the Research Report Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) (603392): the performance exceeded the expectation, and the two price HPV vaccine and IVD business were both bright. According to the slight adjustment of the company’s profit forecast in the interim report, the operating revenue from 2021 to 2023 is expected to be RMB 4.060 billion, RMB 4.969 billion and RMB 5.918 billion respectively, with a year-on-year increase of 72.45%, 22.38% and 19.10%; The net profit attributable to the parent company was 1.433 billion yuan, 1.812 billion yuan and 2.198 billion yuan respectively, with a year-on-year increase of 111.74%, 26.41% and 21.27% (the net profit attributable to the parent company before adjustment was 1.316 billion yuan, 1.638 billion yuan and 1.985 billion yuan respectively). As one of the leading companies with beautiful product pipeline under research and overseas technology output, it will benefit from the continuous increase of 2-valent HPV vaccine in the next three years. The 9-valent HPV vaccine under research has entered clinical phase III and maintained the “buy” rating.
On August 18, 2021, China Merchants Securities Co.Ltd(600999) researcher Sun Wei released the Research Report Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) (603392): continuous high-volume IVD sector of HPV vaccine, which said that with the gradual release of the company’s vaccine production capacity, the IVD sector has recovered its normal growth, and the net profits from 2021 to 2023 are 1.495 billion, 1.977 billion and 2.644 billion respectively. The corresponding EPS is 2.46, 3.26 and 4.36 respectively, and the corresponding PE of the current stock price is 101.5, 76.8 and 57.4 respectively. For the first time, the investment rating of “prudent recommendation-a” is given.
