With the end of this year's interim report season, major vaccine companies have handed over their transcripts. For enterprises that are still in the stage of vaccine research and development in COVID-19, the uncertainty of future performance is even greater. So today, Bian Xiao has compiled the relevant knowledge of the vaccine industry here. Let's have a look!
In the first half of the year 1 1 enterprise, 4 companies, net profit increased.
The data shows that in the first half of 2022, 1 1 vaccine listed companies achieved a total operating income of 323.438+0 billion yuan, a year-on-year increase of 46.35%. Zhifei Bio is the revenue leader in the vaccine industry. In the first half of the year, the revenue increased by 39.34% year-on-year, and the revenue was about 654.38+08.354 billion yuan, more than three times that of Wan Tai Bio.
1 1 Among the enterprises, only Hualan Vaccine, Wan Tai Bio, watson biological (300 142) and Kang Hua Bio achieved double increase in revenue and net profit. Compared with the same period of last year, except for Wan Tai Bio, Kangtai Bio, Hualan Vaccine and Jindike (Jindike's revenue increased by -48.9 1% year-on-year, and the year-on-year growth rate of other enterprises declined, and the net profit of more than half enterprises returned to their mothers showed negative growth.
The reporter noted that in February this year, COVID-19 vaccine products of Kangxinuo, zhifei Bio and Kangtai Bio were all approved as booster vaccines.
In the first half of the year, Kangxinuo achieved a net profit of 6.5438+0.2238 million yuan, a sharp drop of 98.69% year-on-year; In the same period last year, the company's net profit attributable to its mother increased by 10 16.94% year-on-year.
Regarding the performance roller coaster, Kangxinuo said that it was mainly caused by the slow growth of vaccination rate in COVID-19, the decrease of vaccine demand, the price adjustment of vaccine products and the signs of depreciation of vaccine-related stocks in COVID-19.
The performance of zhifei Bio and Kangtai Bio was also affected by the slowdown in vaccine sales in COVID-19. In the first half of the year, the net profit returned to the mother increased by -32.08% and -64. 19% respectively.
The former interim report shows that "the sales volume of Miao Zhike Wade, the first generation of the company, dropped significantly during the reporting period compared with the same period of last year"; The latter had an asset impairment of nearly 449 million yuan, mainly due to the provision for impairment of assets related to inactivated vaccines in COVID-19, which led to a significant decline in the company's performance in the first half of the year.
The sales of rabies vaccine are cold, and the demand for HPV vaccine is strong.
In the first half of this year, the epidemic situation in many places in China has been repeated, which has greatly affected the logistics, transportation and terminal sales of conventional vaccine products, while the market demand for some non-immune vaccines has also tightened.
A typical case is that the sales of rabies vaccine in Chengda are cold. The company's semi-annual report shows that due to the continuous epidemic of COVID-19 (Omicron variant), the activities of people and pets in some areas of China are limited, and the vaccination demand and vaccination activities are affected to some extent, which has a phased impact on the demand for rabies vaccine for human use. The company's revenue and net profit in the first half of the year decreased by 24.83% and 33.78% respectively.
On the other hand, in the first half of this year, Hualan Vaccine achieved an operating income of 1 066,5438+0 billion yuan and a net profit of 298 million yuan.
Looking at these two indicators alone, the company is only average in 1 1 enterprise; However, from the year-on-year growth rate, the company not only ranked first among 1 1 enterprises, but also shined brilliantly: among the 4,876 listed companies that disclosed the interim report, Hualan Vaccine ranked first among the A-share listed companies in the first half of the year with a revenue growth rate of 9,624.76%.
The anti-seasonal flu in the south is the driving force of performance. According to the semi-annual report of Hualan vaccine, influenza vaccine was distributed and sold in batches in May 2022, while influenza vaccine was distributed and sold in batches in the second half of last year, so the sales volume and revenue in the first half of 2022 increased significantly year-on-year.
We also need to pay attention to Wan Tai Bio, which specializes in HPV vaccine (cervical cancer vaccine) and its performance growth curve is relatively stable.
In the first half of this year, the company's revenue and net profit ranked second among 1 1 enterprises, increasing by 20 1.93% and 273.24% respectively. Looking back at the company's interim performance trend in the past three years, it is through the epidemic and all the way up.
In addition, watson biological, which holds bivalent HPV vaccine, also achieved double growth in revenue and net profit in the first half of the year.
Enterprises brew innovative single products. COVID-19 vaccine research and development fever continues.
In the context of shrinking market demand, innovative vaccine products with strong competitive advantages can still be favored by the market. As an enterprise with rabies vaccine products as its main source of income, Kang Hua's interim report card with double growth in biological revenue and net profit illustrates this point.
In the first half of this year, the number of freeze-dried rabies vaccines (human diploid cells) distributed by the company was 3,897,700, an increase of1.51.1%year-on-year; The sales revenue of this product increased by 19.42% year-on-year, reaching 645 million yuan, accounting for more than 90% of the company's total revenue, and the gross profit margin increased by 0. 1 1 percentage point year-on-year to reach 94.03%.
Huaan Securities' research report in September also pointed out that new big items and marketing in the future will be the way for enterprises to get out of trouble under the shadow of the epidemic. For example, Kangxinuo has publicly stated that the company will focus on the commercialization of tetravalent meningococcal conjugate vaccine in 2022, which is also the first and only meningococcal conjugate vaccine covering four serogroups A, C, W 135 and Y in China. Heavy products under research in zhifei include 15 valent pneumococcal conjugate vaccine, 4 valent meningococcal conjugate vaccine and 23 valent pneumococcal polysaccharide vaccine. The 15-valent HPV vaccine (Escherichia coli) jointly developed by Chengda Bio and Lekangjiade was approved for clinical trial in March this year. This is the most expensive HPV vaccine currently being studied in the world.
It is worth noting that although the sales volume of vaccines in COVID-19 dropped sharply in the first half of the year, there are still COVID-19 vaccines in the R&D pipelines of many companies except zhifei Bio, Kangtai Bio, Kangxinuo Bio, Chengda Bio and Encyclopedia Bio, which have already been listed.