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The Performance Of The Science And Technology Innovation Board In 2020 Is "Sharp": The Net Profit Of Three Biomedical Enterprises Has Increased By More Than 10 Times, And The Big Differentiation Of The Board Has Become A Certain Trend

2021/1/28 9:45:00 2

Science And Technology Innovation BoardPerformanceSpoilerBiologyMedicineEnterpriseNet ProfitPlateDifferentiationCertaintyTrend

According to the statistics of the 21st century economic report, as of January 27, 100 of the 222 listed enterprises on the science and technology innovation board have issued performance forecasts, leading the "showthrough" on the achievements in 2020.

On the whole, 64 companies of 100 companies have expected performance increase, 13 companies forecast decrease, 18 companies have loss and 5 companies are uncertain. It is worth noting that the performance of 12 companies doubled, especially the three pharmaceutical and biological companies, Shengxiang biological, Dongfang biological and Zhijiang biological Co., Ltd., performed well. Last year, the net profit growth rate of Shengxiang biological Co., Ltd. was more than 1000%. Among them, the net profit growth of Shengxiang biological was the highest, reaching more than 60 times.

In terms of industry, in addition to biomedical enterprises, the hot market in the semiconductor field is also reflected in the performance of companies related to the science and technology innovation board. Many industrial chain companies said that the downstream market demand is strong, and the net profit growth is more than double-digit.

From the perspective of the stock price performance of the secondary market, the enterprises with double-digit performance growth have a better rise, especially those with a large increase in performance, and the stock price performance basically matches with it. However, at the same time, as of January 27, 24 enterprises have broken out. Industry insiders said that the valuation of Kechuang board was divided into a deterministic trend.

"The structure of traders is relatively optimized, the reform of listing and delisting system is at the forefront, and the growth companies survive the fittest at a high speed. The trading volume of the top 10% of the companies has reached 72.6% and the turnover of the top 10% of the gem has reached 50.8%. Looking back, as predicted in the early stage, the science and Technology Innovation Board will be greatly divided, and there will be both "bull stocks" and a number of "fairy stocks." Industrial Securities Wang Delun pointed out.

The hot market of biomedical enterprises and semiconductor industry is reflected in the performance of related companies of science and technology innovation board. People's vision

Profits of biomedical and semiconductor enterprises soared

It is no exaggeration to describe the biomedical enterprises under the epidemic situation with the performance "blowout". The top three companies in the performance growth of the science and technology innovation board were contracted by the manufacturers of new coronavirus nucleic acid detection products.

According to the 2020 performance forecast released by Shengxiang biological, the net profit is about 2.56-2.81 billion yuan, with a year-on-year increase of 6375% - 7008%.

The company said, mainly due to the new crown nucleic acid detection reagent, nucleic acid detection equipment, related consumables and other products sales increased significantly. At the same time, the company's instrument sales and installed capacity growth further drive the company's incremental sales of all reagents. In 2020, the company will deliver 6122 sets of instruments, which has a positive impact on the company's performance in 2020.

Shengxiang bio was listed in August 2020, and was named "the first anti epidemic stock" at that time. Public information shows that with the spread of the global network of new crown nucleic acid detection products, the nucleic acid detection service of Shengxiang biological products has rapidly expanded from more than 40 countries to more than 150 countries and regions, and the product share of some countries is more than 80%. As a result, Shengxiang biology's performance growth rate last year has become the absolute leader in the scientific and technological innovation board.

Dongfang biological Co., Ltd. ranked the second in terms of performance growth. In 2020, it realized a net profit of about 1.56 billion yuan, with a year-on-year increase of about 1795%. Dongfang bio is also a supplier of new coronavirus detection products. In the first half of the year, the company mainly promoted the marketization of the new coronavirus antibody detection kit (colloidal gold method), and in the second half of the year, it focused on promoting the marketization of the new type of coronavirus antigen rapid detection test paper (colloidal gold method), both of which have made major sales breakthroughs.

Zhijiang biological Co., Ltd. achieved a net profit of about 880 million yuan last year, with a year-on-year increase of 1608.47%. The company was also one of the first batch of new coronavirus reagent manufacturers.

Industry insiders generally believe that the demand for detection reagents is still strong support, and it is expected that the income of new crown detection reagents is expected to maintain a stable downward trend in the future.

In terms of industry, in addition to the outstanding performance of biomedical companies, the performance of relevant leading companies in the science and technology innovation board, where the semiconductor industry is concentrated, is also very impressive.

China Resources micro, the leader of IDM in China, expects to achieve a net profit of about 920 million yuan to 960 million yuan last year, with a year-on-year increase of 130% - 140%; siripu, an analog chip supplier, expects to achieve a net profit of about 180-190 million yuan, a year-on-year increase of 148% - 165%; hengxuan technology, an audio chip supplier, expects to achieve a net profit of about 197 million yuan, with a year-on-year increase of 192.38%.

Since last year, due to the increasing demand for downstream consumer electronics and new energy vehicles, the semiconductor industry has continued to boom, with orders constantly rising, chip prices rising and supply interruption from time to time. The performance of the above companies also supports this new phenomenon in the industry.

China Resources micro said that the orders received by the company last year were relatively full, the overall capacity utilization rate was high, and the overall performance was significantly better than that of the same period last year. According to srip, in 2020, the semiconductor industry will continue to improve, and the revenue of signal chain products such as linear and converter will increase significantly. With the continuous launch of new power products, the revenue of power chip products will increase steadily. Hengxuan technology said that thanks to the rapid development of TWS earphone Market and the company's competitive advantages in technology and products, the company's revenue increased compared with the previous year.

In addition to the performance of companies, those who continue to make losses in the scientific and technological innovation board are also worthy of attention. The 21st century economic reporter found that most of the enterprises that lost money last year were biomedical enterprises, including Zejing pharmaceutical, kangxinuo, Shenzhou cell and other companies. As the products are still in the research stage, there is no revenue generated.

Valuation differentiation is closely related to performance

Valuation has always been a hot issue in the science and technology innovation board. In 2020, the value differentiation within the plate will be more obvious.

According to statistics, by the end of January 27, 24 enterprises had broken their shares, with an average decline of 16% relative to the issuance price. Among them, the decline of jiuri new material, Kaisai biological and Tianyi Shangjia ranked first, all above 30%.

Kasai bio was listed in August last year, with the offering price of 133.45 yuan and the opening price of 150.86 yuan. However, the stock price trend of "listing is the peak", and has been falling since then.

The decline of its stock price may be related to the slowdown of performance. According to the financial data, in 2017 and 2018, the revenue growth of Kasai biological was 46.66% and 28.94%, and the net profit growth was 128.73% and 40.14% respectively. In 2019, Kasai biological's performance growth slowed down significantly, its revenue increased by 9% year-on-year, and its net profit increased by 2.7%, showing a cliff like decline compared with the previous high growth. In the first three quarters of 2020, Casa's revenue decreased by 27.37%, and its net profit decreased by 13.77%.

The decline of Tianyi Shangjia's share price may also be due to the performance. In the first three quarters of 2020, the company's revenue decreased by 46.25% year-on-year, and the net profit decreased by 70%. The company explained that due to the outbreak of new pneumonia at the beginning of the year, the railway passenger service has been greatly impacted, and the demand for products by customers has decreased, resulting in the decrease of business income.

In contrast, the performance of the companies with the highest premium is generally better.

Among the 222 listed companies listed on the science and technology innovation board, Jinshan office has the highest premium on the latest closing price over the offering price, with 846.3% premium on the latest closing price, followed by goodway, Anji technology, Shanghai silicon industry and Oriental biology, with a premium of 824.1%, 819.1%, 748.8% and 667.2%, respectively.

Among them, due to the epidemic situation, the demand for cloud office in Jinshan office increased, which promoted the company's performance to increase significantly. It is estimated that the net profit of Jinshan office was about 800 million yuan - 920 million yuan, with an increase of 100% - 130%.

Secondly, the reporter found that 92% of the 24 enterprises breaking the science and technology innovation board were small cap stocks with a market value of less than 10 billion yuan. Some people in the industry pointed out to reporters that the phenomenon of organization group also exists in the science and technology innovation board. The low-level small cap stocks have not been paid attention to by funds, and the structured market will continue.

Galaxy Securities pointed out that in 2020, the median value of Q1 / Q2 / Q3 institutional shareholding in the total tradable shares of the science and technology innovation board was 6.84/12.17/11.04. Overall, the institutional positions of enterprises on the science and Technology Innovation Board showed an upward trend. From the perspective of fund positions, the top ten stocks are Jinshan office, Zhongwei company, SMIC international, Shitou technology, Western superconductor, RuiChuang micro nano, Shanghai silicon industry, Nanwei medical, voice holding and daotong technology.

As of January 27, the average rise and fall of the above-mentioned ten stocks relative to their issuance prices was 436%, and the average total market value was 123.4 billion yuan.

Wang Delun believes that with the further expansion of the science and technology innovation board in the future, enterprises with bull market gene will stand out: high quality track, scarcity and uniqueness, and become the focus. As the "new growth stocks" in the traditional growth plate, these companies can make achievements as well as long-term performance. In the future, with the maturity and stability of the industry in which they are located, and the continuous performance growth will fall underground, the market of such companies will gradually grow steadily instead of the ups and downs of market sentiment, so as to get rid of the characteristics of "emotional cycle stocks" and gradually become the real "growth core assets" ”。 At this time, the stock price trend of core assets and non core assets within the plate will further differentiate, and high-quality companies are expected to go out of the independent market.

 

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