Key investment points
This week and year to date, the medical index rose by – 2.01% and – 21.58% respectively, and the excess returns relative to the Shanghai index were – 4.03% and – 8.03% respectively; This week, the share prices of medical devices, chemical pharmaceuticals and medical services fell slightly, while the share prices of API, pharmaceutical commerce and biological products fell significantly; ST Hejia (+ 21.74%), Zhejiang Hisun Pharmaceutical Co.Ltd(600267) (+ 21.48%), ST Yunsheng (+ 16.03%) rose the most this week, and the decline ranked the first Zhejiang Ausun Pharmaceutical Co.Ltd(603229) (- 24.56%), Hainan Shuangcheng Pharmaceuticals Co.Ltd(002693) (- 21.12%), Luoxin Pharmaceuticals Group Stock Co.Ltd(002793) (- 17.76%). Performance characteristics of rise and fall: the pharmaceutical sector has dropped due to the effective control of the epidemic situation; Covid-19 treatment drugs dropped significantly, Shanghai Junshi Biosciences Co.Ltd(688180) , Zhejiang Ausun Pharmaceutical Co.Ltd(603229) , China Resources Double-Crane Pharmaceutical Co.Ltd(600062) , etc; Blood products Boya Bio-Pharmaceutical Group Co.Ltd(300294) increased significantly.
The fluorescent endoscope market has witnessed rapid growth, with key recommendations Qingdao Novelbeam Technology Co.Ltd(688677) : according to the frost Sullivan report, the global fluorescent endoscope market reached US $1.31 billion in 2019, accounting for 22.9% of the overall hard lens market. It is expected that the global fluorescent endoscope market will continue to grow rapidly at a rate of 24.3% in the future, and is expected to reach US $3.87 billion in 2024; In 2019, China’s hard mirror market reached 6.53 billion yuan, with a compound growth rate of 13.8% from 2015 to 2019; Among them, the market scale of fluorescent hard mirror is 110 million yuan, accounting for only 1.7% of the hard mirror market. The market scale is expected to reach 3.52 billion yuan in 2024, accounting for 32% of China’s hard mirror market Qingdao Novelbeam Technology Co.Ltd(688677) respectively approved 1080p and 4K fluorescent imaging systems of their own brands in September 2021 and January 2022, which are expected to fully benefit from the high prospect of China’s fluorescent endoscope industry. In addition to its own brands, Qingdao Novelbeam Technology Co.Ltd(688677) established a joint venture with Sinopharm and discussed cooperation with Stryker. In the future, it is expected to take multiple measures to share the broad market in China.
Xcovery’s bpi-442096 ind application was approved by FDA, and Xiansheng’s covid-19 candidate drug sim0417ind application was approved by nmpa: Betta Pharmaceuticals Co.Ltd(300558) announced that its US subsidiary xcovery’s application for clinical trial of bpi-442096 tablets for advanced solid tumors has been approved by FDA; Xiansheng pharmaceutical announced that the company’s covid-19 candidate drug sim0417 has obtained the clinical trial approval of the State Food and Drug Administration and plans to carry out post exposure preventive treatment for close contact people who have been exposed to covid-19 positive infected people.
Investment strategy: 1) consumption of medical devices: Sinocare Inc(300298) , Jiangsu Yuyue Medical Equipment And Supply Co.Ltd(002223) , Autek China Inc(300595) , etc; 2) Medical device field: Qingdao Novelbeam Technology Co.Ltd(688677) , Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) etc; 3) Medical service fields: Aier Eye Hospital Group Co.Ltd(300015) , Topchoice Medical Co.Inc(600763) , haijiya medical, Ningbo Sanxing Medical Electric Co.Ltd(601567) , etc; 4) Medical and aesthetic fields: Imeik Technology Development Co.Ltd(300896) , Bloomage Biotechnology Corporation Limited(688363) , Huadong Medicine Co.Ltd(000963) , Shanghai Haohai Biological Technology Co.Ltd(688366) , etc; 5) CXO field of generic drugs: focus on Baicheng medicine, Beijing Sun-Novo Pharmaceutical Research Co.Ltd(688621) etc; 6) Innovative drugs and industrial chain: Porton Pharma Solutions Ltd(300363) , Wuxi Apptec Co.Ltd(603259) , Zhejiang Jiuzhou Pharmaceutical Co.Ltd(603456) , Asymchem Laboratories (Tianjin) Co.Ltd(002821) , etc; 7) Biotech innovative drugs: kangfang biology, Xinda biology, Yasheng medicine, etc; 8) API field: Zhe Jiang Hua Hai Pharmaceuticalco.Ltd(600521) , Jiangxi Synergy Pharmaceutical Co.Ltd(300636) , Apeloa Pharmaceutical Co.Ltd(000739) , Zhejiang Starry Pharmaceutical Co.Ltd(603520) , Zhejiang Tianyu Pharmaceutical Co.Ltd(300702) , etc; 9) Vaccine field: Chongqing Zhifei Biological Products Co.Ltd(300122) , Shenzhen Kangtai Biological Products Co.Ltd(300601) , Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) , etc; 10) Growth hormone field: Changchun High And New Technology Industries (Group) Inc(000661) , Anhui Anke Biotechnology (Group)Co.Ltd(300009) etc; 11) Blood products: Boya Bio-Pharmaceutical Group Co.Ltd(300294) , Beijing Tiantan Biological Products Corporation Limited(600161) etc; 12) Field of traditional Chinese medicine: Zhejiang Jolly Pharmaceutical Co.Ltd(300181) , Hubei Jumpcan Pharmaceutical Co.Ltd(600566) , Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) , etc.
Risk warning: the price of drugs or consumables is lower than expected; Covid-19 epidemic situation is repeated; The medical insurance policy was further tightened.
