Last year, sales of US products and counterfeit goods were lower than expected, as well as the value of invisible assets (see 63) and stock returns. During the period, the company's income was 3.291 billion yuan (people's expense, the same below), an annual increase of 33.6%, and a stock profit of 417 million yuan, a decrease of 12%. The gross profit margin fell 3.3 percentage points year-on-year to 74.4%, due to volume violations of the profit rate of imitated goods.
Jianmei's income soared by more than 13 times
Last year, sales revenue from US products surged 138.33% to 399 million yuan, accounting for 12.1% of the total revenue. Most of the sales revenue is paid off by "Bengtibao". It is expected that with the acceleration of channel coverage and the supply of more specifications, the sales revenue of "Bao Tibao" will grow by about 30% in 2022; "Hugel" hyaluronic acid filling, fat collection system "Lipivage", and more than 20 independently developed II products will be mass produced; the above products, as well as buried products and gold micro-products represented by the company, are expected to support the rapid growth of our business.
In addition, the company is developing more than 10 III products, including childrens, teenage girls, progenitors and lipolysis products. These products are expected to be put on the market from 2023 to 2025. The company continues to introduce cutting-edge technology and products from overseas to grow into a national platform covering the life cycle of people in the United States. In the first half of 2022, the company established a joint venture with Beijing Qianjing microorganism. Jointly develop PHA microspheres and regenerative medical materials based on biology, accept 80% of Shenzhen Yimei's rights and interests in the field of optical equipment, and accept the home agency right of Suisselle product "Cellbooster" in the field of optical equipment.
The new market has entered the harvest period.
Last year, new sales and other sales increased by 23% year-on-year to 294 million yuan, accounting for 8.9% of the total income, most of which were financed by commissioned development and manufacturing (CDMO) services. At present, the company has more than 40 well-known domestic and overseas companies with about 180 CDMO projects. It is expected that the new drug will enter the harvest period from the beginning of 2022, including Amtraprazole, Ophioprazole injection, Ophioprazole 30 injection and Ligustrin 50 injection from 2022 to 2023; Piperacini, Gaglidine and German glutamate injection will be produced from 2023 to 2024; and XZP-3621, German glutamate and wintersweet injection will be produced in batch from 2024 to 2025. And "XZB-0004" and "KM-257" will be mass produced by the end of 2025.
In terms of financing, as of December last year, Bamboo Bio had completed a B-financing, with a post-investment valuation of nearly 7 billion yuan, and planned to be listed on the Keshan board by the end of 2022. Four doctors currently directly hold about 62.4% of the total development share capital of Bamboo Biology, and it is expected that it will continue to be its holding company after the completion of its listing. As of June 2022, Huisheng Biology has completed a financial crisis, with a post-investment valuation of close to 5 billion yuan. Four doctors currently hold about 68.4% of Huisheng Bio's total development capital. During the period, the sales revenue of imitation goods increased by 18.2% to 2.598 billion yuan, accounting for 78.9% of the total income. The company is developing more than 100 imitations, of which more than 30 are high-end imitations. It is equipped with high-tech products and is expected to be listed within 3 years, thus ensuring the steady growth of revenue from the imitation industry and providing sufficient funding for the research and development of other products. The investment level of Guotai Junan to four doctors is "income", and the target is HK $3.30. The company's short-to long-term growth is achievable and worthwhile.