A-share scarce pharmaceutical innovation platform company in the whole industry chain
Pharmaceutical innovation: CRO service innovation + innovative drugs (with the help of clinical resources to carry out projects in the form of research topics, for promising projects in the form of cooperative development, technical service fees in exchange for part of the rights and interests of the project, while giving priority to project investment rights, screening projects for the industrial base of the Asia-Pacific pharmaceutical industry, currently rich in product reserves)
Whole industry chain: pre-clinical CRO (strong ability to take orders, establish alliances for preclinical CRO such as Fangda, Zhaoyan, scientific research institutes, etc., with small capacity bottleneck) + clinical CRO (grasp core large hospital resources through the Health and Family Planning Commission's "Science and Technology Action Plan for Major Diseases Prevention and Control", business growth rate is relatively fast) + listing re-evaluation (currently the only one in China that can do it, and has been cooperating with major pharmaceutical companies since 17 years. Entrusting hospitals & doctors in the form of research topics, which meets the demands of pharmaceutical companies, hospitals & doctors, CRO enterprises, etc., and has a huge market space. Capital flow: new students in enterprises-national research institutions-hospitals-doctors platform companies: preclinical CRO receiving orders, co-ordinating other preclinical CRO companies in the alliance; listing re-evaluation, entrusting to hospitals & doctors in the form of topics, etc., which requires less personnel. These two businesses avoid the capacity bottleneck (clinical base & manpower) faced by clinical CRO business, and the company can expand its business through outsiders. Reflected in financial terms is a persistently high ROE (more than 35%).
Core competence: the only re-evaluation service qualification & rich clinical resources the only re-evaluation service qualification: Xinyuan has accumulated rich clinical and government resources by promoting the Health and Family Planning Commission's "Science and Technology Action Plan for Major Diseases Prevention and Control", and has become the only CRO enterprise in China with re-evaluation services.
Rich clinical resources: the company has rich clinical resources in Shanghai, Beijing, Guangdong, Wuhan, Wenzhou and other places. By the end of 2017, there were more than 900 long-term cooperative beds (clinical base construction), mainly tertiary hospitals.
The national bidding progressed smoothly & the variety reserve was rich, and the preparation business entered the stage of rapid growth: the company won the bid in 17 years and greatly increased in provinces and cities, laying the foundation for the high growth of preparations in 18-19 years.
Rich in variety reserves: through independent research and development + CRO platform rich reserves of innovative drugs, it is expected to be listed one after another in the future, laying the foundation for long-term development.
Risk tips: CRO orders are not as expected, preparation sales are not as expected, and the listing process of R & D varieties is not as expected.
