Affected by the inclusion of heavy products in the centralized purchase, “northeast yaomao” Changchun High And New Technology Industries (Group) Inc(000661) has suffered three limits in a row, and its share price has retreated nearly 65% compared with the high point in May last year.
The organization withdrew after hearing the wind. The data showed that the total net sales of institutional seats exceeded 350 million yuan in three days. Senior executives of the company urgently supported the market and increased their holdings of 84700 shares of the company with self raised funds.
The continuous falling limit has led to the pledge of equity of major shareholders. On the interactive easy, investors asked whether nearly 30 million Pledged Shares of major shareholders reached the closing line on January 20. Will they be closed? Response of the company: the pledge of relevant shares of major shareholders is the pledge guarantee of bank loans, which is not completely consistent with the setting of the closing line of pledge type repurchase transaction.
According to the data, Changchun High And New Technology Industries (Group) Inc(000661) five of the pledge guarantees provided by the largest shareholder to the bank have not been released, accounting for 9.4% of the total share capital. Among them, the largest decline on the pledge date has fallen by 1.244 billion yuan.
organization wind exit
According to the data of the dragon and tiger list, institutions and hot money have sold Changchun High And New Technology Industries (Group) Inc(000661) in recent three trading days. The total net sales of institutional seats exceeded 350 million yuan, and the net sales of the five business departments exceeded 530 million yuan.
On January 20, the institutional flight was the most obvious. On the dragon and tiger list, there are four institutions in the top five seller seats, with a total net sales of more than 170 million yuan. As of the closing on January 21, there were still 128000 sales orders at the limit price.
Source: China stock market news
As early as may 2021, there was a rumor about the collection of growth hormone. On May 21, some investors asked Changchun High And New Technology Industries (Group) Inc(000661) for confirmation on interactive easy access. The company responded that it had not received formal written documents and notices related to centralized purchase. However, the company’s share price has fallen all the way since then, and has retreated nearly 65% so far.
According to the data, as of January 22, 2022, Changchun High And New Technology Industries (Group) Inc(000661) institutional investors have changed from more than 1100 in mid-2021 to more than 110, and the fund’s shareholding has decreased from 24% to 12%.
However, some institutions continue to be optimistic and have heavy positions. As of November 23, 2021, since the end of the third quarter of 2021, the China EU healthcare mix has continued to increase its position of Changchun High And New Technology Industries (Group) Inc(000661) 418000 shares to hold 5.517 million shares, ranking the fifth largest circulating shareholder of Changchun High And New Technology Industries (Group) Inc(000661) . For e fund’s new income flexible allocation hybrid and e fund’s Yufeng Return Bond Fund, Changchun High And New Technology Industries (Group) Inc(000661) ranked among its top five heavy positions.
the company’s share price
At noon on January 21, Changchun High And New Technology Industries (Group) Inc(000661) announced that based on the recognition of the company’s long-term value and confidence in its future development, nine directors, supervisors and senior managers, including the chairman of the company, increased a total of 84700 shares of the company with self raised funds through centralized bidding on the same day, with an average increase price of 184.36 yuan / share.
Changchun High And New Technology Industries (Group) Inc(000661) said that the relevant personnel of this increase will not reduce their holdings of the company’s shares within six months after the increase, and will not conduct insider trading, trading of shares in sensitive periods and short-term trading. At the same time, it voluntarily undertakes not to reduce its holdings within 12 months from the date of the increase.
At the same time, Changchun High And New Technology Industries (Group) Inc(000661) also announced that it would buy back 2.4732 million shares of the company through centralized bidding from December 3, 2021 to January 21, 2022, accounting for 0.61% of the total share capital, with a total turnover of about 600 million yuan. The repurchase plan has been implemented so far.
The company said that its operation is in good condition and its financial condition is stable. The share repurchase will not have a significant impact on finance, operation, R & D and debt performance ability, which is conducive to protecting the interests of investors and enhancing confidence.
influence geometry of centralized purchase
In response to the rumors about the centralized purchase of growth hormone in May 2021, the company said in a teleconference on the 21st of that month that the centralized purchase of powder injection is more likely, but the proportion of powder injection products in the company’s revenue is not high, and the time for water injection to be included in the centralized purchase is not ripe.
Source: company announcement
However, according to the final collection documents recently, both recombinant human growth hormone for injection (powder injection) and recombinant human growth hormone injection (water injection) are involved. Among the recombinant human growth hormone collected by public medical institutions this time, powder injection accounted for 68% and water injection accounted for 32%.
It is worth noting that the pre procurement volume of public medical institutions of water injection of kinsay pharmaceutical, a subsidiary of Changchun High And New Technology Industries (Group) Inc(000661) , reached 96.2% in the first year, and about 31.5% of powder injection. Among them, water needle 15iu (pricing unit: piece, the same below) and 30iu have the largest pre purchase volume in the first year, and the highest valid application price is 173.58 yuan / piece and 295.08 yuan / piece.
According to Dongguan Securities Research Report, the current online prices of the above two water needle products are about 567 yuan and 1031 yuan, which is nearly 70% different from the highest valid application price of the centralized purchase, exceeding market expectations. The ceiling price of powder injection is relatively optimistic, and relevant enterprises have a high probability of actively bidding. Hongta Securities Co.Ltd(601236) believes that the price does not distinguish between dosage forms, and the water injection is priced with reference to the powder injection of the same specification, resulting in a lower maximum effective declared price of the water injection, and the price reduction range exceeds the market expectation.
According to the announcement, Changchun High And New Technology Industries (Group) Inc(000661) in the first three quarters of 2021, the revenue was 8.239 billion yuan, of which growth hormone products of Kinsey pharmaceutical contributed about 5.8 billion yuan, accounting for 94% and 70% of the total revenue of Kinsey pharmaceutical and the parent company respectively.
In addition, according to the announcement on May 21 of the same year, in the current income of Kinsey pharmaceutical, powder injection accounts for 8% – 9% and water injection accounts for more than 70%. Less than 30% of the company’s growth hormone products are sold in public hospitals and more than 70% are sold in other cooperative medical institutions. The company said that at present, the promotion of private medical institutions needs to be driven by the prescriptions of public hospitals. However, with the development of private medical institutions in China, their dependence on public hospitals has weakened. It is expected that the proportion of growth hormone sales in private medical institutions will further increase in the future.
In this regard, some investors suggested that the company withdraw from water needle centralized collection and focus on the corresponding 70% market share of private hospitals. Changchun High And New Technology Industries (Group) Inc(000661) said: we will formulate relevant plans on the premise of earnestly safeguarding the interests of the company and not violating laws and regulations.
Source: interactive easy
Dongguan Securities said that whether the current growth hormone market pattern will be broken mainly depends on the performance of growth hormone water needle suppliers in this centralized purchase. If some enterprises adopt more radical strategies and some enterprises respond conservatively, radical enterprises may open competition channels through the hospital market and seize the hospital market share of unsuccessful enterprises.
