今年半年度时，诺泰生物曾预计上半年实现归母净利润1.8亿元-2.5亿元，同比增长330.08%-497.34%。实际披露的半年报显示归母净利润为2.27亿元，同比增长442.77%，增速落在预测区间的上沿。Northeastern Biology took the lead in releasing the performance forecast for the third quarter of 2024, benefiting from the sales growth of polypeptide active pharmaceutical ingredients, and is expected to achieve a net income attributable to the mother of 0.1 billion yuan to 0.14 billion yuan, a year-on-year growth of 100.56%-180.78%. Northeastern Biology is expanding the polypeptide workshop to meet the high demand for GLP-1, and is expected to further increase polypeptide production capacity by 10 tons/year by the first half of 2025.
"Star Daily" reported on October 8th (by reporter Zheng Bingxun) following the first disclosure of the A-share biopharmaceutical semi-annual performance forecast earlier this year, Northeastern Biology (688076.SH) became the first company on the star market to disclose its performance forecast for the third quarter of 2024.
According to the performance forecast, Northeastern Biology is expected to achieve a net income attributable to the mother of 0.1 billion yuan to 0.14 billion yuan in Q3 2024, an increase of 50.1397 million yuan to 90.1397 million yuan, with an expected year-on-year growth of 100.56% -180.78%. In the same period last year, Northeastern Biology's net income attributable to the mother was 49.8603 million yuan.
In the first half of this year, Northeastern Biology had previously projected a net income attributable to the mother of 0.18 billion yuan to 0.25 billion yuan, representing a year-on-year growth of 330.08% -497.34%. The actual semi-annual report disclosed a net income attributable to the mother of 0.227 billion yuan, a year-on-year growth of 442.77%, falling at the upper end of the forecast range.
In response to the increase in net profit in the third quarter, Northeastern Biology stated that the significant year-on-year growth in sales revenue of polypeptide active pharmaceutical ingredients has driven the performance to grow year-on-year.
As a pharmaceutical company specializing in independent research and development and customized production services around polypeptide drugs and small molecule drugs, Northeastern Biology's current revenue mainly comes from the two sectors of "independent selection products" and "customized products and technical services".
According to Wind data, in recent years, Northeastern Biology's revenue from independent selection products has grown rapidly, surpassing customized business revenue in 2023, becoming the company's primary source of income.
Specifically, from 2021 to 2023, independently selected products achieved revenues of 13.1 billion yuan, 25.6 billion yuan, and 62.9 billion yuan respectively, accounting for 20.34%, 39.33%, and 60.84% of the total income. During the same period, custom business achieved revenues of 51.1 billion yuan, 39.2 billion yuan, and 40.4 billion yuan, accounting for 79.32%, 60.17%, and 39.08% of the total income.
In the first half of 2024, the revenue gap between the two major business sectors of Notai Biotech further widened. Revenue from independently selected products reached 54.5 billion yuan, accounting for 65.53% of the total, while revenue from custom business was 28.6 billion yuan, accounting for 34.53% of the total.
It is reported that in terms of independently selected products, Notai Biotech mainly focuses on peptide drugs, supplemented by small molecule drugs, and conducts research, development, and sales work around disease treatment directions such as diabetes, cardiovascular diseases, and tumors. Currently, Notai Biotech has built a pipeline covering varieties such as Simiglutide, Liraglutide, Teduglutide, and Oseltamivir phosphate.
The Science and Technology Innovation Board Daily found that Notai Biotech has achieved sales growth in peptide active pharmaceutical ingredients, perhaps due to continuous technological breakthroughs.
Firstly, in 2023, Notai Biotech obtained the FDA DMF First Adequate Letter (FA Letter) for active pharmaceutical ingredients such as Liraglutide and Semaglutide, indicating that the quality of related peptide active pharmaceutical ingredients has been approved by the FDA. Secondly, in February of this year, Notai Biotech's Teduglutide active pharmaceutical ingredient obtained the first US FDA DMF globally.
At a recent investor conference, Notai Biotech stated that after obtaining the FA Letter for varieties like Semaglutide, the accumulation of relevant technology and experience can also be applied to other peptide varieties. They bluntly stated, "The recognition of the FA Letter by overseas customers is very high, which can have an official certification and multiplier effect on the company's business expansion.
Furthermore, in response to the current high demand and tight production capacity of GLP-1, Notai Biotech is expanding the 601 and 602 peptide workshops for production layout. The 601 workshop is expected to complete installation and commissioning by the end of 2024, while the 602 workshop is slated to complete construction, installation, and commissioning by the first half of 2025, with a total increase in peptide production capacity of 10 tons/year.
However, Notai Biotech also cautions that as peptide products enter the commercialization stage, with the increase in supply quantity, prices will decrease. Nevertheless, Notai Biotech also stated, "The company can reduce production costs through various cost-efficiency measures to achieve economies of scale and greater gross profit."
