On January 19, Changchun High And New Technology Industries (Group) Inc(000661) known as the “northeast medicine Mao”, dived in a straight line in the morning. The decline was less than 1% at about 10:37. The limit was closed in less than half an hour, and the market value fell below the 100 billion yuan mark.
As of the third quarterly report of last year, the company had a total of more than 150000 shareholders. According to rough calculation, the market value of company evaporated by more than 10 billion yuan in this morning’s plunge, with an average household loss of about 70000 yuan .
For the Changchun High And New Technology Industries (Group) Inc(000661) flash collapse limit, in the stock bar, netizens instantly fried the pot, many people shouted “collective mining is coming”, some netizens expressed their willingness to “copy the bottom”, and some netizens mentioned the “aunt forgetting the password and making 5 million” exposed in the high market, saying “is the five million aunt still there?” (click to enter Changchun High And New Technology Industries (Group) Inc(000661) )
the company’s growth hormone enters the centralized purchase directory
On January 19, Guangdong Pharmaceutical Trading Center issued the document on centralized procurement of diclofenac and other drugs by Guangdong alliance, inviting qualified enterprises to apply. A variety of recombinant human growth hormone are listed in the centralized purchase catalogue, and the recombinant human growth hormone injection (gyzz s20050025) of Changchun Jinsai Pharmaceutical Co., Ltd., a holding subsidiary of Changchun High And New Technology Industries (Group) Inc(000661) is also listed.
For the collection of growth hormone, the reporter of the daily economic news called Changchun High And New Technology Industries (Group) Inc(000661) investor relations and contacted insiders of the company. As of the press release, no reply has been received.
It is worth mentioning that Kinsey pharmaceutical, a subsidiary of Changchun High And New Technology Industries (Group) Inc(000661) , has been regarded by the outside world as a profit cow of listed companies. The stable and rapid growth of Changchun High And New Technology Industries (Group) Inc(000661) performance in recent years is largely due to the contribution of growth hormone of Kinsey pharmaceutical.
Since centralized purchase often means substantial price reduction, investors are quite concerned that it may lead to the shrinkage of the company’s performance. In the first three quarters of 2021, Kinsey pharmaceutical’s sales revenue of growth hormone products was about 5.8 billion yuan, accounting for 70% of the total revenue of Changchun High And New Technology Industries (Group) Inc(000661) . In addition, Changchun Bcht Biotechnology Co(688276) (688276. SH), another subsidiary of Changchun High And New Technology Industries (Group) Inc(000661) , just landed on the science and Innovation Board of Shanghai Stock Exchange on June 25, 2021.
It was announced on January 12 that Changchun Kinsey Pharmaceutical Co., Ltd., the holding subsidiary of the company, received the notice of approval for supplementary drug application approved and issued by the State Food and drug administration, which approved Kinsey pharmaceutical to increase the approved indications of the same variety in China, specifically including: for children with short stature caused by achondroplasia; For growth disorders in girls caused by gonadal hypoplasia (Turner syndrome); Adult short bowel syndrome for nutritional support.
According to the third quarterly report of Changchun High And New Technology Industries (Group) Inc(000661) 2021, the company’s main revenue was 8.239 billion yuan, a year-on-year increase of 28.75%; The net profit attributable to the parent company was 3.147 billion yuan, a year-on-year increase of 39.25%; Deduct non net profit of RMB 3.16 billion, a year-on-year increase of 43.07%; In the third quarter of 2021, the company’s main revenue in a single quarter was 3.276 billion yuan, a year-on-year increase of 31.97%; The net profit attributable to the parent company in a single quarter was 1.224 billion yuan, a year-on-year increase of 28.78%; The non net profit deducted in a single quarter was 1.238 billion yuan, a year-on-year increase of 31.46%; The debt ratio is 22.9%, the investment income is -26.0994 million yuan, the financial expenses are -65.7984 million yuan, and the gross profit margin is 86.71%.
It should be noted that compared with the previous two years, Changchun High And New Technology Industries (Group) Inc(000661) ‘s third quarterly net profit growth slowed down. in the first three quarters of 2019 and 2020, the net profit growth of Changchun High And New Technology Industries (Group) Inc(000661) reached 47.93% and 82.19% respectively .
market value has halved
institutions fled
As early as may last year, the market heard the news of intensive purchase of growth hormone, Changchun High And New Technology Industries (Group) Inc(000661) share price fell sharply from the historical high of more than 550 yuan, and the news fell by the limit on May 24. In July last year, Guangdong Province announced the list of centralized drugs, growth hormone did not enter, and Changchun High And New Technology Industries (Group) Inc(000661) share price rebounded slightly. Since the news of centralized purchase came out in May last year, Changchun High And New Technology Industries (Group) Inc(000661) ‘s share price has halved, and its market value has fallen from more than 200 billion to less than 100 billion.
According to the third quarterly report, institutional funds have fled one after another, and the number of holding institutions has changed from more than 1000 to more than 200.
Judging from the shareholding of well-known fund managers, Ge Lan, with a management scale of nearly 100 billion yuan, has begun to pick up chips. In the third quarter of last year, she reduced her position by more than 1 million shares and began to increase her position in October 2021. As of November 23 of that year, China Europe medical and health managed by Gran added Changchun High And New Technology Industries (Group) Inc(000661) 418000 shares. In addition, the fund managed by Zhang Qinghua, vice president of e fund, also fine tuned its position. Compared with the end of the third quarter of last year, as of November 23, last year, the position of e fund Yufeng return bonds under its management was increased by Changchun High And New Technology Industries (Group) Inc(000661) 1189700 shares, and the new income of e fund under its management was slightly reduced by 75900 shares.
China’s growth hormone market may grow rapidly
On the evening of August 4 last year, the Xinhua News Agency published an article entitled “getting higher if you are anxious about your height? Dangerous!”, Once again triggered the market discussion on “growth hormone abuse”.
The article points out that in recent years, the “heightening needle” treatment mainly used for dwarfism in medicine has quietly sprung up. Xinhua News Agency reporter found that the so-called “heightening needle” is actually an injection of growth hormone. Experts believe that growth hormone has been abused, which may bring users health risks such as endocrine disorder, femoral head slippage, scoliosis and so on.
The article also points out that in recent years, with the increase of social demand, the use of growth hormone is increasing. The annual income of a leading growth hormone enterprise in China has increased year by year. In the five years from 2016 to 2020, its annual revenue increased by more than 4 times, and more than 90% of its revenue came from growth hormone related products.
In medicine, there are strict diagnostic criteria for dwarfism, among which the proportion of dwarfism caused by insufficient secretion of growth hormone is not high. The director of Department of Endocrinology, 301 Hospital of Beijing, and the former chief of the Chinese Medical Association endocrine society, said that the incidence rate of growth hormone deficiency dwarf is about 20/100000 to twenty-five.
In the past 10 years, the natural incidence rate of dwarfism has not improved significantly, but the growth hormone market in China has maintained a rapid growth. According to relevant data, the compound annual growth rate of growth hormone market has reached 30.42% in the past seven years. In 2015, China’s growth hormone market was about 1.3 billion yuan, and in 2019, the market scale reached 5.889 billion yuan. According to Southwest Securities Co.Ltd(600369) estimation, the market scale in 2020 is about 7.7 billion yuan.
Dongguan securities research report said that the company ( Changchun High And New Technology Industries (Group) Inc(000661) ) is the leader of growth hormone. China has a large market space and a good competition pattern. Through the above two investments, the company will accelerate the development in the field of newborns and mental nerves, enhance technical reserves, optimize product structure, enhance core competitiveness and promote the healthy and sustainable development of the company. It is estimated that the company’s earnings per share in 2021 and 2022 will be 10.12 yuan and 13.01 yuan respectively, and the current share price corresponding to PE will be 28 times and 22 times respectively, maintaining the “recommended” rating of the company.
According to deppon Securities Research Report, China’s dwarfism market has huge capacity, low drug penetration and considerable growth space in the future.
According to the reporter of “daily economic news”, due to different preparations, different weight and sensitivity, the monthly cost of growth hormone needle is between 3000 yuan and 15000 yuan, and it often takes 2 to 5 years. According to the media report in June 2019, the drug bidding information shows that the annual cost of Changchun High And New Technology Industries (Group) Inc(000661) growth hormone powder injection is nearly 19000 yuan, the annual cost of water injection is about 42000 yuan, and the annual cost of long-acting dosage form is about 196000 yuan . For parents whose children need growth hormone, the inclusion of growth hormone into collective collection will undoubtedly greatly reduce their expenditure.
