The disclosure of the annual report is about to start. From the perspective of the announcement of the performance announcement, the pharmaceutical industry is one of the few industries in the two cities that are not plagued by the slowdown in economic growth. According to the data, among the 58 pharmaceutical companies that have released performance forecasts, 49 companies are pre-increased (pre-increased, slightly increased, renewed and turned losses), with a ratio of 84.48%. The analysis believes that with the market's investment hotspots The low valuation gradually transitioned to a low increase. The pharmaceutical stocks that had “run too slowly” had a compensatory increase requirement and had already stood on the “window”.

Industry annual report over 80% company pre-history

According to the timetable for the disclosure of the annual report announced by the Shanghai Stock Exchange and the Shenzhen Stock Exchange, the disclosure of the 2014 annual report of the listed company will be officially opened on January 15th. As the disclosure of the annual report gradually approached, the market focus turned to the mid-market. In this context, the performance of the industry and individual stocks has received much attention.

According to statistics, as of January 12, 1,079 companies in the Shanghai and Shenzhen stock exchanges released the 2014 annual report performance forecast, of which 722 companies achieved pre-increased, slightly increased, continued profit and turn losses, the pre-happiness ratio reached 66.91%. Judging from the pre-increase of individual stocks in the industry, medicine is one of the few industries in the two cities that are not plagued by the slowdown in economic growth and whose performance continues to maintain a clear momentum.

Statistics show that among the 58 pharmaceutical bio-industry companies that have released performance forecasts, 49 companies have achieved pre-increase, slight increase, renewal and turnaround, with a pre-happiness ratio of 84.48%. Moreover, among the 30 companies, the maximum increase rate is 30% or more, and the company's annual net profit growth rate of over 50% in the pharmaceutical and biological industry is expected to reach or exceed 30%.

The analysis pointed out that although the announcement of the mid-term report that has been published is only the tip of the iceberg, it is still possible to "see the leopard". Generally speaking, there are a number of companies in the same industry that predict the growth of performance at the same time, and there is a certain representativeness. There are more pre-history companies in the pharmaceutical and bio-industry, indicating that the overall growth of this industry is quite good.

In an interview with the "Investment Express" reporter, the industry insiders said that with the development of the economy and the improvement of people's living standards, the demand for biomedical products is increasing, and the biomedical industry has certain growth. In addition, with the medical reform and the rapid advancement of the national essential medicine system, the total expenditure on health will continue to grow rapidly, laying a solid foundation for the development of the biomedical industry.

"In the medium and long term, China's pharmaceutical industry has huge room for development. China's medical expenditure is significantly lower than that of developed countries. With the development of economic development and health awareness, medical expenditure will increase rapidly. In addition, the aging of the population will continue to enhance medicine. Industry needs," said Anxin Securities Researcher.

The speeding up of China's aging trend will definitely enhance the growth of the pharmaceutical and biological industries. Experts predict that by 2025, the number of elderly people over the age of 60 will reach 291 million, and in 2050 it is expected to reach 440 million. The huge elderly population will also inject growth momentum into China's pharmaceutical industry.

Part of the high growth

Among the 58 pharmaceutical bio-industry companies that have announced their performance forecasts, in addition to over 80% of the company's high pre-happiness ratio, some companies have also shown high growth characteristics, with many companies' performance increasing by more than 100% year-on-year. %.

Among them, Furui Co., Ltd. (300049), Asia Pacific Pharmaceutical (002370), Zhongyuan Concord (600645), Kangzhi Pharmaceutical (300086), Shanghai Lai Shi (002252), Wohua Pharmaceutical (002107), Xinbang Pharmaceutical (002390) ), 9 companies including Haixiang Pharmaceutical (002099) and Northeast Pharmaceutical (000597) forecast a net profit increase of at least 1 times. In addition, Yifan Xinfu (002019), Hainan Haiyao (000566) and Yuheng Pharmaceutical (002437) The maximum increase rate of the three companies also exceeded 100%.

According to the performance announcement issued by relevant companies, Haixiang Pharmaceutical, Zixin Pharmaceutical (002118), Yifan Xinfu, Guizhou Bailing (002424), Sunflower Pharmaceutical (002737), Shuangcheng Pharmaceutical (002693), Northeast Pharmaceutical 14 companies including Asia Pacific Pharmaceutical, Hansen Pharmaceutical (002412), Xinhecheng (002001), Haisike (002653), Qizheng Tibetan Medicine (002287), Guilin Sanjin (002275) and Wohua Pharmaceutical Net profit will increase by more than 100% from the previous month.

It is worth mentioning that this was caused by the slowdown in the growth of the pharmaceutical industry in 2014. Relevant statistics show that the pharmaceutical industry slowed down in 2014 due to factors such as the expectation of price reduction of Chinese patent medicines and the slower than expected bidding. Guoxin Securities' latest research report shows that from January to November 2014, the pharmaceutical industry's revenue increased by 12.8%, still maintaining a steady growth at the bottom; but the profit growth rate in January-November was 12.0%, compared with 12.9% in January-October. It has fallen.

However, since the second quarter of last year, the industry's revenue and profit growth rate has stopped falling and stabilized. It has been rising month by month since July. According to analysts of Industrial Securities, the pharmaceutical industry has gradually returned to stable growth after spending the era of medical reform dividends. It is expected that the pharmaceutical industry as a whole is expected to continue to grow steadily by 10%-15%. Guoxin Securities believes that with the full coverage of medical insurance, the pressure on medical insurance payment is becoming more and more serious, and the future medical insurance control fee is the trend of the times. It is expected that the next 5-10 years The industry will enter the "new normal" of 12%-15% growth.

Under the influence of the acceleration of aging, the increase in the proportion of government expenditure, the increase in residents' income, the persistence of urbanization, the deterioration of health and the environmental cost, the growth rate of the domestic pharmaceutical industry in the future will remain above the GDP growth rate for a long time. "Industry pointed out.

Xu Laihai, an analyst at China Merchants Securities, said that the aging of the population and environmental changes have led to an increase in the incidence rate and changes in the disease spectrum. The state's continued investment in universal health insurance has improved the accessibility of medical treatment and ensured the long-term growth of the pharmaceutical industry.

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