Securities code: Hybio Pharmaceutical Co.Ltd(300199) securities abbreviation: Hybio Pharmaceutical Co.Ltd(300199) Announcement No.: 2022064 Hybio Pharmaceutical Co.Ltd(300199)
Announcement on the reply to the inquiry letter of the annual report of Shenzhen Stock Exchange
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Hybio Pharmaceutical Co.Ltd(300199) (hereinafter referred to as "the company" or " Hybio Pharmaceutical Co.Ltd(300199) ") received the inquiry letter on the annual report of Hybio Pharmaceutical Co.Ltd(300199) (GEM annual report inquiry letter [2022] No. 368) issued by Shenzhen Stock Exchange on May 16, 2022. The company has carefully verified and implemented the relevant issues concerned in the letter one by one, and now replies to the relevant issues in the letter are as follows:
1. In 2021, your company's operating revenue increased by 1.97% year-on-year, the operating cost increased by 46.05% year-on-year, and the gross profit margin decreased by 8.44 percentage points compared with the same period last year. Please explain the following problems:
(1) List the name, corresponding amount and gross profit margin of each preparation product of your company in recent three years, and compare with comparable companies to explain the rationality of the gross profit margin of relevant preparation products.
Reply: ① name, corresponding amount and gross profit rate of various preparation products in recent three years
In 2019, 2020 and 2021, the name, operating revenue and gross profit margin of the company's preparation products are as follows:
Unit: 10000 yuan
Product name 20212020 2019
Gross profit margin of operating revenue gross profit margin of operating revenue gross profit margin of operating revenue
Somatostatin for injection 1729796 71.20% 2131397 77.87% 1824360 76.05%
Terlipressin for injection 1474139 92.71% 1826046 95.29% 476716 95.83%
Cabetoxin injection 544993 92.55% 447833 94.85% 228814 93.70%
Desmopressin injection 467038 69.96% 448818 76.15% 456364 77.53%
Etibatide injection 427043 80.83% 296996 74.60% 165704 85.49%
Acerbic acid injection: 74.63-17.87%-
Thymopentin for injection 279731 63.63% 457745 76.62% 843304 81.90%
Other preparations 736048 73.33% 550863 86.56% 633396 80.37%
Total 6076305 79.93% 6233944 84.69% 4628658 81.10%
② Compare with comparable companies to explain the rationality of the gross profit margin of relevant preparation products
The company is mainly engaged in the R & D, production and sales of polypeptide preparation products. The listed preparation products mainly include terlipressin for injection, somatostatin for injection, thymopentin for injection, desmopressin acetate injection, etc. The selection of comparable listed companies in the same industry is as follows:
Hainan Shuangcheng Pharmaceuticals Co.Ltd(002693) (Stock Code: Hainan Shuangcheng Pharmaceuticals Co.Ltd(002693) ) (hereinafter referred to as " Hainan Shuangcheng Pharmaceuticals Co.Ltd(002693) "), the company is one of the key backbone enterprises in China National Chemical Engineering Co.Ltd(601117) synthetic polypeptide industry, and has been engaged in the R & D, production and sales of chemically synthesized polypeptide drugs. The polypeptide drugs produced and sold mainly include thymosin for injection, somatostatin for injection and thymopentin for injection Cheng Du Sheng Nuo Biotec Co.Ltd(688117) (Stock Code: Bio-Thera Solutions Ltd(688177) ) (hereinafter referred to as " Cheng Du Sheng Nuo Biotec Co.Ltd(688117) "), whose main business is independent research and development, production and sales of polypeptide API and preparation products with large market capacity and strong competitiveness outside China.
Livzon Pharmaceutical Group Inc(000513) (Stock Code: Livzon Pharmaceutical Group Inc(000513) ) (hereinafter referred to as " Livzon Pharmaceutical Group Inc(000513) ") is mainly engaged in the R & D, production and sales of pharmaceutical products, including preparation products, API and intermediates, diagnostic reagents and equipment.
Therefore, the preparation products of Hainan Shuangcheng Pharmaceuticals Co.Ltd(002693) , Cheng Du Sheng Nuo Biotec Co.Ltd(688117) , Livzon Pharmaceutical Group Inc(000513) are similar to the preparation products of the company. The gross profit margin of preparation products of relevant comparable companies is compared with the company as follows:
Company name product category 20212020 2019
Hainan Shuangcheng Pharmaceuticals Co.Ltd(002693) polypeptide products 70.95%, 76.71%, 87.31%
Cheng Du Sheng Nuo Biotec Co.Ltd(688117) preparations 92.31% 93.03% 92.52%
Livzon Pharmaceutical Group Inc(000513) chemicals 79.10% 77.59% 77.44%
Average value -- 80.79%, 82.44%, 85.76%
The company's pharmaceutical products accounted for 79.93%, 84.69% and 81.10%
It can be seen from the above table that the gross profit margin of the company's preparation products is close to that of relevant products of comparable companies, and the gross profit margin of the company's preparation products is reasonable.
(2) Please explain the reasons for the sharp decline in the gross profit margin of API sales in combination with the changes of API sales category, raw material cost and API sales price
Reply: during the reporting period, the company's main API products were liraglutide, oxytocin solution, atoxiban acetate, etibatide, teriparatide, ganerik acetate, desmopressin acetate, etc. Excluding the influence of etibatide, teriparatide and desmopressin acetate on the gross profit margin, the average gross profit margin of API products is 50.86%.
The bulk drug sold in this period is mainly liraglutide, and the previous period is mainly oxytocin solution. The category structure of sales changes greatly compared with the previous period. Excluding the three products of desmopressin acetate, teriparatide and etibatide, the average gross profit margin of other products in 2021 is not much different from that in 2020. Compared with the previous period, the main reasons for the change of gross profit margin in this period include: first, it is affected by market fluctuations; Second, the company's API production is accelerating the transfer from Shenzhen Nanshan to Wuhan subsidiary. In a short period of time, Wuhan original
The material and drug production base and the headquarters API production base coexist, and the functions are repeated, resulting in the rise of depreciation and amortization and management expenses, resulting in the increase of production
The cost of goods has increased significantly. With the increase of orders, the sales revenue of API will continue to increase. At the same time, with the increase of API from
The transfer from Shenzhen Nanshan to Wuhan subsidiary is completed, and the cost will also be improved.
(3) List the names of the top ten sales customers of your company in recent three years, whether they are related parties of your company, product categories
Sales amount, amount of accounts receivable at the end of each period, collection after the period, provision for impairment, etc
Reply: top ten customers in 2021:
Is there a receivable at the end of 2021? The impairment order at the end of 2022 is the customer's name is the sales amount of the category of products sold. The balance of accounts from January to April is calculated back, known as the associated party's (10000 yuan) (10000 yuan) (10000 yuan) Information provided (10000 yuan)
Somatostatin for injection, terlipressin for injection, carboplatin
1. Customer a: No, oxytocin injection, desmopressin injection, vinegar 257819110330 568 33.55.17 other preparations such as atoxiban acid injection
Somatostatin for injection, terlipressin for injection, carboplatin
Customer B: No, oxytocin injection, desmopressin injection, etoposide
2. Tibatide injection, atoxiban acetate injection, 246855 918.37 571 13 45.92 other preparations such as thymopentin for injection
Somatostatin for injection, desmopressin injection, vinegar
3. The customer's c-fosinate, atoxiban injection, thymopentin for injection, etc. 215891 790.43 703 24 39.52 other preparations
Somatostatin for injection, terlipressin for injection, carboplatin
Customer D: No, oxytocin injection, desmopressin injection, vinegar
Atoxiban 4-acid injection, thymopentin for injection, etc. 208772 572.15 468 24.28.61 other preparations
5 customer e no API, customer peptide 194871119485119485 59.74
Somatostatin for injection, terlipressin for injection, carboplatin
6. Customer F: No, oxytocin injection, desmopressin injection, 140892 407.17 372 49 20.36 other preparations such as thymopentin for injection
Desmopressin injection, etibatide injection, vinegar
7. The customer g-fosinate, atoxiban injection, thymopentin for injection, etc. 123223 478.16 419 77 23.91 other preparations
Customer H: no somatostatin for injection, terlipressin for injection, card
8 betatropin injection and desmopressin injection 121025 574.29 503 58 28.71
Customer I: no somatostatin for injection, terlipressin for injection, or etoposide
9 tibatide injection 114329 315.83 262 eighty-eight
