when problems such as centralized purchase, supply interruption and letter Phi followed one after another, North China Pharmaceutical Company.Ltd(600812) performance also sounded an early warning, and the revenue and net profit decreased double, and the net profit almost fell by 80%.
On January 17, North China Pharmaceutical Company.Ltd(600812) rose intraday. As of the closing, the share price closed at 12.59 yuan / share, up 3.54%.
ten year income increase without profit increase
On January 15, North China Pharmaceutical Company.Ltd(600812) announced that in 2021, the company is expected to realize a net profit of about 20 million yuan. Compared with the same period of last year (statutory disclosure data), the company’s performance is expected to decrease by about 77.32 million yuan, a year-on-year decrease of about 79.45%. At the same time, it is estimated that the non net profit deducted is about – 59 million yuan, which is expected to increase by about 2.91 million yuan compared with the same period of last year (statutory disclosure data).
For the reasons for the loss, North China Pharmaceutical Company.Ltd(600812) said in the announcement that due to the impact of covid-19 epidemic in Gaocheng District, Shijiazhuang and the complex situation of superposition of internal and external multiple adverse factors, the net profit after deducting non recurring profits and losses attributable to the shareholders of the listed company is expected to be basically the same as that of the previous year.
In recent three years, although North China Pharmaceutical Company.Ltd(600812) revenue has exceeded 10 billion, the net profit is still in the state of “increasing revenue without increasing profit”. According to the data, from 2018 to 2020, North China Pharmaceutical Company.Ltd(600812) had revenue of 9.214 billion yuan, 10.881 billion yuan and 11.493 billion yuan respectively, but its net profit was only 146 million yuan, 148 million yuan and 104 million yuan.
In fact North China Pharmaceutical Company.Ltd(600812) in recent 10 years, the net profit has been low. Among them, when the highest revenue reached RMB 12.137 billion and RMB 12.438 billion in 2011 and 2013 respectively, its net profit was only RMB 140 million and RMB 9.4925 million.
North China Pharmaceutical Company.Ltd(600812) (for short, North China Pharmaceutical Company.Ltd(600812) ) was established in 1953 and listed in 1994. The company’s main products involve nearly 1000 product specifications in the fields of chemical pharmacy, modern biotechnology drugs, vitamins and nutritional health products, modern traditional Chinese medicine, biological agricultural and veterinary drugs, and the treatment fields include anti infection, cardio cerebrovascular, nephropathy, anti-tumor and immune regulation.
The main products include amoxicillin sodium for injection, clavulanate potassium, piperacillin sodium for injection, tazobactam sodium, cefotaxime sodium for injection, norvancomycin hydrochloride for injection, etc. the production and marketing volume ranks in the forefront of the industry.
As an old pharmaceutical enterprise established for more than half a century, its performance has fallen into a quagmire. In addition to its performance, its investment cash flow has been negative for 10 years, its gross profit margin has also decreased from 42.21% in 2019 to 33.7% in the third quarter of 2021, its asset liability ratio has also increased to 72.58%, and its short-term liabilities have reached 7.947 billion yuan.
it doesn’t mean “tea”
In order to solve the weak growth of performance, North China Pharmaceutical Company.Ltd(600812) began to turn its attention to the milk tea industry. Previously, Beijing Tongrentang Co.Ltd(600085) opened an offline experience store called “Zhima health”.
It happens that the consumption concept of the new generation of young people prefer new tea drinks. The great development space and the rising new track make new tea drinks a favorite of the capital group. According to Naixue’s tea prospectus data, the market scale of China’s current tea industry has reached 113.6 billion yuan. It is estimated that the average annual compound growth rate will reach 24.5% from 2021 to 2025. In the future, the “inner roll” of milk tea track will be more serious. If you want to get a share, is it really feasible to rely on the words “online popularity” and “health preservation”?
On August 14, 2021, Zhen Yinzi’s first store opened in Shijiazhuang, Hebei Province. It declared that it “adheres to the business philosophy of North China Pharmaceutical Company.Ltd(600812) everything for human health” and “prepared with five elements secret recipe”. Its signature products include “anthocyanin blueberry milkshake”, “Hericium erinaceus golden melon milkshake”, and most of its price positioning is about 18 yuan. Compared with other tea shops, the price is also close to the people.
Therefore, the reporter of the international finance news found a store called “Zhen Zi drink” in the public comments. It is located in Wanda Plaza, Changning, Shijiazhuang. At present, the store score is 3.9. The top three products recommended by netizens are Luoshen orange peel plain water, bird’s nest lime baking soda and anthocyanin blueberry milkshake. However, there are only 19 selected evaluations of the store as of the press time of the reporter.
At the same time, the franchise fee of Zhen Yinzi is lower than that of popular milk tea stores. Public information shows that in the first tier and provincial capital cities, the franchise fee of Zhen Yinzi is 20000 yuan, and the investment excluding rent is expected to be about 150000 yuan. In contrast, honey Snow Ice City, which focuses on the sinking market, requires franchisees to pre invest more than 370000 yuan and provide real capital proof.
It should be noted that Zhen Ziyin not only sells milk tea, but also Huawei health’s “functional health food”. During the trial operation, all customers can also enjoy a comprehensive and systematic intelligent physical examination; Siasun Robot&Automation Co.Ltd(300024) physical examination relies on four technologies: digitization of traditional Chinese medicine, spectrum technology, bioelectricity technology and pulse wave technology to detect 10 systems and 70 indexes of the body.
It can be seen that North China Pharmaceutical Company.Ltd(600812) also seems to be a drunken man, not “milk tea”. According to relevant reports, Zhen Yinzi franchise store will be implanted with other products sold by North China Pharmaceutical Company.Ltd(600812) in the future, and cooperate with North China Pharmaceutical Company.Ltd(600812) for relevant business promotion. In other words, Huawei health hopes to link users and products through milk tea stores.
It is understood that “Zhen Yinzi” is regarded as a key channel construction project of North China Pharmaceutical Company.Ltd(600812) great health “14th five year plan”, and its trademark belongs to Hebei Huawei Health Industry Co., Ltd. (hereinafter referred to as “Huawei health”), a holding subsidiary of North China Pharmaceutical Company.Ltd(600812) . Tianyancha shows that North China Pharmaceutical Company.Ltd(600812) holds 51% of its equity.
However, the revenue results of Huawei health are not ideal. According to the 2021 interim report, the operating revenue of Huawei health is 85.24 million yuan, and the net profit is only 3.35 million yuan.
In August 2021, North China Pharmaceutical Company.Ltd(600812) was criticized by Hebei securities regulatory bureau and Shanghai stock exchange for violating the regulations because the “Aftershock” of centralized mining and supply interruption caused by insufficient production capacity has not ended, and because of “over limit deposit”, “the part of daily related party transactions exceeding the expected amount did not fulfill the obligation of deliberation and disclosure in time” and “inconsistency before and after the disclosure of the company’s information on interest bearing liabilities”.
In addition, according to tianyancha data, at present North China Pharmaceutical Company.Ltd(600812) has 505 own risks, including 140 legal proceedings. In September 2021, it was enforced by the people’s Court of Chang’an District of Shijiazhuang city because it performed its legal obligations on time, with an execution amount of RMB 3.0646 million, and its risk level was rated as high.
However, as for the secondary market of North China Pharmaceutical Company.Ltd(600812) , in September 2021, its share price was as low as 8.08 yuan, which has not improved. Today, its share price climbed as high as 12.88 yuan / share, up 37.26% compared with last September.
The reporter sent an interview letter to the enterprise on the company’s business direction and other issues. As of press time, no reply has been received from the enterprise.
