In recent years, my country's residents' consumption level has accelerated, the Internet industry has continued to deepen, and the pharmaceutical e-commerce industry has risen rapidly. However, under the influence of the epidemic, the market structure of pharmaceutical retail has quietly changed. The new entrance to retail has accelerated. According to iiMedia data, my country’s pharmaceutical e-commerce transaction scale will reach 174 billion yuan by 2022, and the industry has huge prospects.
With the outbreak of the pharmaceutical e-commerce industry, the pharmaceutical cold chain logistics industry as an important industrial chain has also achieved rapid development. Lanfu Finance has also been paying attention to the development of the domestic pharmaceutical cold chain logistics industry for a long time. According to research data from the China Internet of Things Pharmaceutical Logistics Branch, as of the end of 2019, my country's pharmaceutical logistics warehousing area was 20.6687 million square meters, an increase of 17.13% compared with 2018, and the area ratios of normal temperature warehouses and refrigerated warehouses were 23.90 and 3.90 respectively.
Among the 34,477 self-owned vehicles for my country’s pharmaceutical logistics in 2019, 8,146 were refrigerated trucks, accounting for 23.62, a year-on-year increase of 61.96 from 2018. In addition, the number of self-owned refrigerated trucks by my country's pharmaceutical cold chain companies reached 8,146 in 2019, accounting for 21.4% of the total number of self-owned vehicles in the pharmaceutical industry in 2019. Compared with 2018, the year-on-year growth is as high as 61.0, and the domestic pharmaceutical cold chain logistics vehicle market is growing rapidly.
Overall, the domestic pharmaceutical cold chain logistics infrastructure construction is gradually improving. The scale of the pharmaceutical cold chain logistics market is also increasing significantly year by year. According to data from China Internet of Things Pharmaceutical Logistics, the total sales of China's pharmaceutical cold chain in 2019 was approximately 339.503 billion yuan, a year-on-year increase of 20.09% compared with 2018. The China Internet of Things Pharmaceutical Logistics Branch predicts that the sales scale will reach 400 billion yuan by the end of 2020.
Against the background of such a huge market scale, many companies in related industries of pharmaceutical cold chain logistics have been born in China, including leading A-share listed companies in the industry. Companies directly involved in the pharmaceutical logistics business include Sinopharm Accord, SF Holding, and Inte Group. Companies involved in the cold chain supporting equipment industry include representatives from Haier Biology, Binglun Environment, Snowman Co., Ltd., and Bingshan Cold and Heat.
Analysis of listed companies in pharmaceutical logistics business
Sinopharm Accord (000028):
Sinopharm Accord’s main business includes pharmaceutical distribution and pharmaceutical retail. It is a member of Sinopharm Group The only pharmaceutical retail integration platform in the country, its business covers the entire industry chain of "drug distribution, pharmaceutical logistics, pharmaceutical retail industry investment".
At present, the company has built a "four-in-one" ladder logistics distribution network consisting of regional logistics centers, provincial logistics centers, urban distribution centers and distribution stations, and expanded multi-warehouse operations, third-party logistics, New models of modern logistics operations such as cold chain management provide customers and suppliers with professional, efficient and fast pharmaceutical distribution and logistics value-added services.
In the field of pharmaceutical distribution, the company has formed a strong business network in southern China with its integrated and large-scale industrial advantages. Up to now, the company has 47 subsidiaries in key areas such as Guangzhou, Shenzhen, Foshan, Dongguan, Zhanjiang, Meizhou, Huizhou, Zhaoqing, Jiangmen, Shaoguan, Zhongshan, Nanning and Liuzhou, including 31 subsidiaries in prefecture-level and above cities. Ranked among the top three in the hospital direct sales market and achieved deep penetration in southern China.
Public information shows that as of June 30, 2020, the company had 975 second- and third-level medical institutions; 6,319 primary medical customers; and 4,881 retail terminal customers. In addition, the company has established 27 regional chain companies in 21 provinces, autonomous regions and municipalities across the country, covering 75 prefecture-level cities across the country, with more than 5,000 retail pharmacies, and has ranked first in China's pharmaceutical retail industry for six consecutive years.
SF Holding (002352):
SF Holding is a well-known company in the domestic express delivery industry. Today, when e-commerce is highly developed, SF Express’s daily express delivery services are well-known. SF Express has also made full efforts in pharmaceutical cold chain logistics in recent years.
At present, the company relies on its own logistics network, technological infrastructure and advanced experience in resource intensive management to continue to improve a deeper and broader pharmaceutical service network to provide customers with professional, safe and fully controllable one-stop medicine. Logistics supply chain solutions and services cover pharmaceutical industry production, e-commerce, distribution, retail and other fields.
As of June 30, 2020, the company’s pharmaceutical network covers 237 prefecture-level cities and 2,046 districts and counties, with 6 pharmaceutical warehouses with a total area of ??30,000 square meters, and 46 pharmaceutical transportation trunk lines. National core cities. During the reporting period, the company's cold transportation and pharmaceutical business achieved an overall tax-free operating income of 3.241 billion yuan, a year-on-year increase of 37.78%.
In the first half of 2020, SF Pharmaceuticals also gradually shifted from single-drug transportation to diversification, guiding the medical resource chain to continue to open up, and comprehensively deepening and upgrading its cooperation with drug manufacturers, distribution companies, vaccine manufacturers, disease control centers at all levels, and Cooperate with various enterprises in the pharmaceutical industry chain such as hospitals and chain pharmacies. During the epidemic, SF Express cooperated with major leading Internet hospitals in China and more than 1,000 grade-level hospitals to provide patients with home delivery of room temperature drugs and cold chain drugs, as well as comprehensive pharmaceutical services.
Previously, SF Holding had stated to the public that the company recognized the future development of the pharmaceutical cold chain industry, advanced the layout of the pharmaceutical cold chain, established a special team, and invested in more than 80 new refrigeration units that comply with the pharmaceutical GSP certification during the year. It plans to open 7 medical warehouses in Suzhou, Changsha, Changchun, and Nanchang to meet the warehousing and distribution needs of pharmaceutical industry and pharmaceutical commercial customers.
Inter Group (000411):
As one of the leading regional enterprises in the pharmaceutical distribution industry in Zhejiang, the company is mainly engaged in the wholesale and retail business of drugs and medical devices, that is, from upstream Pharmaceutical production or supply companies purchase products and then wholesale them to downstream medical institutions, pharmacies, dealers, etc. or sell them directly to consumers through retail terminals.
The company has subsidiaries such as Zhejiang Yingte Logistics Co., Ltd., Jinhua Yingte Pharmaceutical Logistics Co., Ltd. and Wenzhou Yingte Pharmaceutical Logistics Co., Ltd., which are mainly subsidiaries of Yingte Group (Zhejiang Yingte Pharmaceutical Co., Ltd. The responsible company and other county and city regional subsidiaries in the province) provide logistics services. In addition to internal services, it also provides pharmaceutical logistics services to customers outside the Intel Group, which also involves third-party pharmaceutical cold chain logistics business.
At present, the pharmaceutical cold chain logistics business is an important strategic support of the Intel Group. The Modern Logistics of the Intel Group has more than 750 professional pharmaceutical logistics employees, a storage area of ??more than 200,000 square meters, a cold storage of more than 20,000 cubic meters, and more than 300 vehicles. , including 50 refrigerated trucks, with an annual drug throughput of more than 20 million pieces.
The subsidiary Zhejiang Yingte Logistics Co., Ltd. has 45 routes in Zhejiang Province with its own distribution method; cold chain distribution: full refrigerated truck coverage of municipal hospitals, pharmaceutical companies and pharmaceutical chains in the province, Hangzhou City All customers in the area are fully covered by refrigerated trucks, and small and medium-sized customers choose proven refrigerated containers for full coverage.
The Jinhua Logistics Center currently used by the subsidiary Zhejiang Yingte Logistics Co., Ltd. covers an area of ??100 acres and was put into use at the end of 2016. At present, the business has covered the logistics allocation and distribution business in Jinliquwentai and northeastern Jiangxi, northwest Fujian and southern Anhui. It focuses on the development of third-party business and realizes the storage of all products. The logistics coverage network is expected to reach 20,000.
The subsidiary Ningbo Yingte Logistics Co., Ltd. currently has a warehouse area of ??more than 28,000 square meters, and has a cold storage of 1,000 cubic meters in a cool warehouse. The warehouse area is equipped with advanced modern logistics facilities and equipment such as automatic sorting, electronic label picking, and material transportation. The company mainly covers areas in central and northern Zhejiang such as Jiaxing, Huzhou, Ningbo, Zhoushan and surrounding provinces and cities such as Shanghai and Jiangsu.
The Wenzhou Logistics Center of the subsidiary Wenzhou Yingte Pharmaceutical Logistics Co., Ltd. covers an area of ??25 acres, with a storage area of ??30,000 square meters. It is fully shaded and designed and was put into use at the end of 2016. A large-scale professional medical cold storage of 3,000 cubic meters is constructed in the reservoir area. According to the storage requirements of cold chain drugs, it is divided into buffer area, pending inspection area, packaging material area, pallet storage area, shelf storage area and multi-temperature layer settings. It is mainly responsible for Wenzhou and Lishui. , Taizhou (part), Fujian Province and other allocation, distribution and third-party logistics business, the logistics coverage network is expected to reach 10,000.
Yao.com (300937):
Yao.com is a comprehensive pharmaceutical distribution service provider focusing on the "out-of-hospital market". Through innovative Internet and big data technologies, efficient warehousing and logistics systems, complete category management, and comprehensive and multi-level service systems, the company has gradually reduced the intermediate circulation links in the out-of-hospital market and provided services to the vast number of community medical terminals and primary medical institutions. Provide convenient, efficient and low-cost pharmaceutical distribution services.
The company has a semi-automated warehouse with a storage area of ??26,000 square meters, equipped with WMS system and ERP system to realize information management. In 2018, the average daily number of shipment items reached 50,000, effectively supporting sales of more than 2 billion throughput.
In addition, the company has a self-built logistics system, equipped with 81 professional distribution vehicles, and has opened 11 direct distribution trunk lines and more than 100 main and branch distribution lines in major cities and states in Sichuan Province, covering Most areas in Sichuan. Now the company's direct logistics can achieve next-day delivery within Chengdu and two-day delivery in major cities in Sichuan. At the same time, Yaoyigou has obtained the qualification for third-party pharmaceutical logistics distribution business and is one of the few companies in Sichuan Province with this qualification.
At present, Yaoyigou has established a complete pharmaceutical variety system. The company has obtained national or regional agency and distribution qualifications for more than 7,100 pharmaceutical varieties from more than 1,200 pharmaceutical companies, and has become a national or regional agent for more than 700 pharmaceutical companies and 4,000 pharmaceutical companies. It is the designated secondary distributor for more than 100 varieties, and has also established business cooperation relationships with nearly 700 pharmaceutical commercial enterprises.
Jinyu Medical (603882):
Jinyu Medical’s main business provides more than 23,000 various medical institutions across the country, including physical and chemical mass spectrometry testing, genome testing, pathological diagnosis, and biochemical luminescence. Outsourcing and scientific research technology services for a total of more than 2,700 inspection items in six categories including inspection, immunology inspection, and other comprehensive inspections.
In terms of pharmaceutical logistics, Guangzhou Jinyuda Logistics Co., Ltd. (hereinafter referred to as: Jinyuda Logistics), a subsidiary of Jinyu Medical, is an enterprise specializing in medical cold chain logistics. Since its establishment, it has always focused on the execution and optimization of medical-related cold chains, providing safe, professional and efficient cold chain logistics services to customers in life sciences, medical testing, health testing, biomedicine and other fields.
In terms of logistics business, Jinyida Logistics' business includes life science logistics, biological sample logistics, clinical trial logistics, biomedicine/diagnostic reagents, biological sample storage, biomedical material logistics, etc. Taking life science logistics as an example, Kingyuda Logistics can provide normal temperature (25-30) logistics, refrigerated (2-8) logistics, frozen (-15-25) logistics, and dry ice (-20-80) logistics to meet the needs of identification samples , genetic testing samples, cell samples, animal specimens and other sample logistics services.
In terms of warehousing, Jinyida Logistics has been focusing on the third-party warehousing and distribution comprehensive management business in the medical industry since its establishment, deeply cultivating the warehousing and distribution logistics industry chain, relying on national regulations and taking chain data as the core , driven by refined management and combined with years of experience in warehouse distribution management and service, is committed to providing enterprises with high-efficiency, low-cost overall solutions for warehouse distribution and hosting.
At present, Jinyida Logistics has 33 wholly-owned subsidiaries of the group in major domestic cities and economic regions, with a network covering 31 domestic provinces and cities, and 2,334 outlets in counties and villages.
The company currently has more than 2,500 logistics specialists, providing specimen/goods transportation services to more than 21,000 medical institutions and pharmaceutical companies across the country every day, with an annual receipt volume of nearly 44 million specimens.
Huadong Medicine (000963):
Huadong Medicine was established in 1993. It is a company integrating pharmaceutical research and development, manufacturing and sales, modern pharmaceutical logistics, health industry, and manufacturing and sales of medical beauty products. It is a large-scale comprehensive pharmaceutical listed company. The company has four major business sectors: Chinese and Western medicine, medical equipment, medicinal materials, ginseng and antler, and health industry, covering pharmaceutical wholesale, pharmaceutical retail, third-party pharmaceutical logistics featuring cold chain, pharmaceutical e-commerce, hospital value-added services, and featured health industries.
Recently, Huadong Pharmaceutical Supply Chain Management (Hangzhou) Co., Ltd., a wholly-owned subsidiary of Huadong Pharmaceutical, received Zhejiang Province’s first pharmaceutical cold chain enterprise express delivery business license issued by the Zhejiang Provincial Postal Administration. . The company is a pharmaceutical material reserve enterprise in Zhejiang Province and Hangzhou City. It has a complete cold chain logistics distribution service system and professional capabilities, and is responsible for the supply and distribution of pharmaceutical reserve varieties in Hangzhou City and the entire province.
In this regard, the company stated that obtaining the first express delivery business license for a pharmaceutical cold chain enterprise in Zhejiang Province is a high recognition of the company's cold chain logistics distribution level and service capabilities by the market and regulatory authorities. In the future, Huadong Medicine will provide continuous power support for the healthy development of the cold chain logistics industry and better meet the needs of cold chain consumption.
Analysis of listed companies in pharmaceutical storage equipment technology
Haier Biology (688139):
Haier Biology was listed on the Science and Technology Innovation Board in Qingdao on October 25, 2019. The city’s first company listed on the Science and Technology Innovation Board. The company not only possesses industry-leading low-temperature cold chain core technology, but also provides -196 to 8 full temperature range, full scenarios, and full categories of biomedical low-temperature products. It has obvious advantages in product technology design, production technology, quality control, etc. Leading the international market.
Domestically, Haier Biologics occupies more than 50% of the market share in the ultra-low temperature market, providing convenience for hospitals, blood stations, disease control centers, and research institutes, and has also provided services such as the China Bone Marrow Bank, the National Gene Bank, and China Many national strategic projects such as the Human Genetic Resource Bank use Haier Biotech's products. Overseas, under the strategic guidance of Haier Group’s “go out, go in, and go up” strategy, Haier Biotech has entered more than 100 countries and regions around the world.
Currently, Haier Biotechnology has 288 patents, 34 US Energy Star certifications, and has led or participated in the drafting of 9 national and industry standards and 1 World Health Organization international standard. In the field of vaccination, Haier Biotech's innovative "Haile Miao" smart vaccine network interconnects people, machines and vaccines to ensure "good people and good vaccines", achieving accurate vaccine collection with zero errors, freezing of problematic vaccines in seconds, and full traceability of vaccinations. process, solving the "last mile" problem of vaccination.
Faced with the different needs of each link in the prevention and control of the new coronavirus, Haier Biotechnology has innovatively integrated IoT technology and biotechnology to explore a set of safety sampling cabins, IoT transfer boxes, mobile detection cabins, A full-scenario ecology of public health including biosafety products and scenario solutions such as Cloud Eye Smart Laboratory.
Sifang Technology (603339):
Sifang Technology has 6 wholly-owned subsidiaries and 1 research institute. The company relies on the manufacturing of cold chain food deep processing equipment and focuses on freezing High-end intelligent equipment technology fields such as refrigeration, storage and transportation equipment, industrial heat exchange, and energy-saving panels have formed industrial scale effects and gained significant industrial competitive advantages.
The company already has U, U2 and R stamp qualifications from the American Society of Mechanical Engineers, China C2 level mobile pressure vessel design and manufacturing qualifications, and GC2 pressure pipeline installation, modification and maintenance qualifications. Some refrigeration equipment products have passed the EU pressure equipment PED certification and the EU safety certification CE and are sold to EU countries.
In addition, the company's tank containers comply with ISO, ASME, EN, and GB standards, and have passed many product certifications such as Lloyd's Register, Bureau Veritas, Russian Shipping Classification Society, China Classification Society, etc., with Qualifications to provide products globally.
The company is not only a supplier of quick freezing equipment, but also provides customers with a series of services such as project consultation, solutions, equipment provision, and technical support. The company has more than 3,000 high-quality customers at home and abroad. Its rich industry experience has made the company a professional cold chain solution provider.
At present, the company has 1 quick-freezing equipment engineering technology research and development center and 4 laboratory testing platforms, which are suitable for various related tests. At the same time, the company has participated in the formulation of a number of national and industry standards. The industry-university-research cooperation mechanism has been established and effectively operated. It has established stable relationships with many well-known universities such as the Chinese Academy of Sciences and Nanjing University of Science and Technology, Shanghai Ocean University, Jiangnan University, and China University of Mining and Technology. partnership.
As a leading cold chain equipment manufacturing enterprise with comprehensive advantages in China, Sifang Technology has been widely recognized by the market and customers after nearly 40 years of development. Since the epidemic, many investors have paid attention to the application of Sifang Technology's technology and products in the pharmaceutical cold chain. Sifang Technology also publicly stated that the cold storage built by the company can be used for vaccine storage, and the company is seeking business related to vaccine cold chain storage.
Snowman Co., Ltd. (002639):
Snowman Co., Ltd. was founded in March 2000. The company owns 2 industrial parks in Binhai and Liren, more than 10 physical subsidiaries, and the current number of employees. for more than 1,000 people. After more than ten years of development, the company has become a company with compressors as its core industry and integrating the research and development, design, manufacturing, sales, engineering installation and after-sales service of waste heat recovery power generation, new energy, industrial and commercial refrigeration and complete sets of refrigeration systems. High-tech enterprises.
In the ice-making equipment manufacturing industry, Snowman's comprehensive market share ranks among the top. It is one of the large-scale enterprises in the ice-making industry. It is the unit of the National Refrigeration Standard Committee's ice-making machine working group and is responsible for formulating national and Market standards. The company owns two internationally renowned compressor brands, SRM and RefComp, with a rich product range and leading technology.
In the field of cold chain logistics, Snowman has long been committed to improving the overall level of China's cold chain ecology. It can provide product series to match different cold storage needs, ranging from as small as 10 cubic meters to as large as 200,000 tons of cold storage. Both have rich product lines that meet the full cold chain requirements of fruits, vegetables, aquatic products, dairy frozen products, pharmaceuticals and vaccines and other cold and fresh products from origin to retail warehousing to last-mile distribution.
The company has some unique cold chain products to fill the technical gaps in the field of domestic cold chain logistics, such as large-scale ammonia carbon dioxide refrigeration units, mobile refrigeration equipment, cold storage integrated machines, etc.; RefComp refrigeration integrated machines can ensure refrigeration Chain medicines are continuously maintained at low and constant temperatures during transportation.
At present, Snowman's Refcomp refrigeration integrated machine is not only used in the "Provincial Vaccine Library" project of the Hebei Center for Disease Control and Prevention, but also used in disease control in Jinan, Zhengzhou, Wuxi, Siping, Zhangjiakou and other places. The center’s cold storage project for medical items. Previously, Snowman Co., Ltd. publicly stated that the RefComp all-in-one machine developed by the company can be used in refrigeration equipment in the field of medical cold chain logistics, especially for medicines that require refrigeration, freezing and other temperature requirements for the storage and transportation of medicines. It can ensure that cold chain medicines are transported during the transportation process. Maintain low temperature and constant temperature state continuously.
Songzhi Co., Ltd. (002454):
Songzhi Co., Ltd. is mainly engaged in the research and development, production and sales of thermal management related products in the fields of automobiles, rail transit and cold chain logistics. It is a domestic automobile company A leading company in thermal management related products. Products are widely used in various types of vehicles such as large and medium-sized buses, passenger cars, special vehicles, trucks, light buses, rail cars and refrigerated trucks.
The company has become the leader in vehicle thermal management products with the most diverse product categories, the strongest technology development capabilities, and the leading market share among my country's independent brand thermal management-related product suppliers. At present, the company's vehicle thermal management system field includes automotive air conditioning related core components, automotive air conditioning systems, battery thermal management related components and systems, ATS engine cooling systems and other products.
Recently, the company announced that the acquisition of Keihin Dayang Heating and Cooling Industry (Dalian) Co., Ltd. 55 has been completed. In the "Share Purchase Agreement" signed between the company and Keihin Thermal Technology Corporation (hereinafter referred to as "KTT"), KTT has fulfilled all conditions for delivery.
Keihin Dayang Heating and Cooling Industry (Dalian) Co., Ltd. is an enterprise specializing in the research and development, production, sales and service of automotive air-conditioning condensers, evaporators and other products. As a professional company of the Japanese Keihin Group in China The base engaged in the automobile air-conditioning condenser and evaporator business mainly supplies automobile air-conditioning related parts to joint venture brand car companies such as Guangqi Honda, Dongfeng Honda, SAIC Volkswagen, FAW-Volkswagen and Changan Ford.
Regarding pharmaceutical cold chain logistics-related business, Songzhi Co., Ltd. has also publicly stated that the cold chain logistics units supporting the company's cold chain logistics unit business have entered the field of pharmaceutical logistics and transportation, and have carried medical drugs and Products such as vaccines. At present, the company's cold chain logistics unit products can be widely used in the transportation of fresh food, food, medicines, vaccines and other fields.
Binglun Environment (000811):
Binglun Environment was founded in 1956 and is a diversified and international comprehensive equipment industrial enterprise. The company's main business covers industrial clusters such as low-temperature refrigeration, central air conditioning, environmentally friendly heating, energy and chemical equipment, precision castings, smart services, and hydrogen energy development.
Currently, the company has production bases, scientific research centers and marketing service agencies in more than 40 countries around the world. With safe, environmentally friendly and energy-saving housekeeping solutions and intelligent system integration capabilities, the company has served more than 120 customers around the world. Provide users in countries and regions with service guarantees throughout the product life cycle.
The company also has 5 national-level science and technology innovation platforms, including the nationally recognized enterprise technology center, and 14 provincial-level science and technology innovation platforms, including the Shandong Provincial Key Laboratory of Energy Saving and Environmental Protection Refrigeration Equipment. It has been recognized as a key high-tech enterprise in the National Torch Plan, possesses 263 national patented technologies, and has presided over and participated in the formulation of 20 national standards and 32 industry standards.
As a company committed to providing customers with professional system solutions in the field of temperature control, Ice Wheel Environment publicly stated that the company’s refrigeration equipment has been used in the pharmaceutical industry for a long time. In recent years, Hisun Pharmaceuticals and Luye Pharmaceuticals , Qilu Pharmaceutical, Jiuzhoutong and other customers. In extreme cases, some medical supplies (such as the new coronavirus mRNA vaccine) require an environment of -70°C for long-term storage. Currently, one of the company's business units is constructing a -70 ultra-low temperature biological cold storage for a company under Fosun Pharma.
Bingshan Hot and Cold (000530):
The predecessor of Bingshan Hot and Cold is Dalian Refrigeration Factory founded in 1930. It is a leading enterprise in China's industrial refrigeration industry - Dalian Bingshan Group Co., Ltd. core enterprise. With hot and cold technology as its core, the company has created a complete hot and cold industry chain and built a hot and cold industry base supported by Dalian, Wuhan and Changzhou.
The company relies on the Dalian Hot and Cold Technology Innovation Center and the intelligent manufacturing demonstration base to innovate business models, develop new business formats, develop according to customer needs, and accelerate the pace of transformation and upgrading around the smile curve. Iceberg relies on The complete hot and cold industry chain actively upgrades to the cold and hot value chain with technological innovation, intelligent manufacturing and hot and cold services, continuously expands an open and inclusive hot and cold ecosystem, and continues to lead the development of China's cold and hot industry.
As China's largest industrial refrigeration equipment manufacturer, Bingshan Cold and Heat has previously publicly stated that the company and related associated companies have undertaken medical cold storage projects in recent years, and related solutions can be applied to vaccine storage.