90 Companies Have Handed Over "Report Card", 37 Companies Have Double-Digit Growth In Net Profit

As of January 27, a total of 90 A-share listed companies were the first to hand in the "report card" in 2020.

Among them, in terms of revenue scale, Greenland holdings ranked first with the revenue of 481.296 billion yuan, and China Merchants Bank ranked first with the net profit of 97.342 billion yuan. It is worth mentioning that among the 90 listed companies, the net profits are all profits and there are no loss making enterprises.

From the perspective of revenue growth in 2020, Zheshang securities has become the largest among 90 companies with a revenue growth of 87.51%, followed by Kanghua bio, with a revenue growth of 87.26%. The third largest is CSCI, with a revenue growth of 70.53%.

In terms of net profit, ashtrong won with an increase of 182.72% in net profit. Mengwang technology and yuntu Holding Co., Ltd., which turned losses around, ranked second and third respectively, with net profit growth of 143.36% and 136.87% respectively.

In contrast, the revenue of 14 enterprises including Northeast Securities, Chengdu gas and Jinqilin declined, while the net profits of 12 enterprises including Hyundai pharmaceutical, guangbai shares and ZTE declined.

According to the 21st century economic report, among the 90 companies, 37 companies performed well, achieving double-digit growth in revenue and net profit (with an increase of more than 10%).

90 companies have submitted "report cards"

In terms of industry division, in the securities industry, six listed securities companies, including CITIC Securities, CITIC construction investment, Zhejiang securities, Changjiang Securities, Northeast Securities and Guohai Securities, have disclosed their performance reports.

Northeast Securities is the only listed securities company with a year-on-year decline in revenue. In 2020, its operating revenue will drop by 16.77%, and the remaining five listed securities companies will achieve both revenue and net profit growth.

As a representative of the leading securities companies, CITIC Securities achieved an operating revenue of 54.348 billion yuan in 2020, with a year-on-year increase of 25.98%; and the net profit attributable to the shareholders of the parent company was as high as 14.897 billion yuan, with a year-on-year growth of 21.82%.

In addition, another leading securities firm, CITIC construction investment, achieved a revenue of 23.351 billion yuan in 2020, a year-on-year increase of 70.53%, and a net profit of 9.509 billion yuan attributable to the shareholders of the parent company, with a year-on-year growth of 72.85%, and a leap forward growth.

In the face of the keynote of "bumper harvest" in the securities industry, Wang Yifeng, chief analyst of Everbright Securities and finance industry, pointed out that "in 2020, with the promotion of capital market reform, a number of policies will be implemented, which will comprehensively benefit the development of investment, investment banking, brokerage and other businesses of the securities industry. In 2020, the performance of the securities industry will continue to maintain high growth under the background of high base in 2019. The comprehensive strength of head securities companies is strong, and their competitiveness in investment and investment banking core business is outstanding, and they will continue to lead the industry development. Some of the most distinctive small and medium-sized securities companies and internet securities companies are expected to highlight the tight encirclement and realize differentiated development. "

In the banking industry, among the 12 listed banks that disclosed performance express, Bank of Jiangsu had the largest increase in revenue with operating revenue of 52.026 billion yuan, an increase of 15.68%, while Changsha bank had the largest increase in net profit by 5.08% with a net profit of 5.338 billion yuan attributable to the shareholders of the parent company.

"Long term optimistic about the industry leader's strategy and business leading ability", the recent research report of Societe Generale Securities pointed out that "at the same time, we should pay attention to the subject matter with excellent fundamentals and high valuation flexibility in stock banks and small banks.".

Since the beginning of 2020, the trend of the fund's heavy position in consumption and medicine has also attracted market attention.

In the field of biomedicine, there are nine listed companies, such as pianzai Huang, modern pharmaceutical, Qianjin pharmaceutical and Kanghua biology, which have disclosed the performance express in 2020.

In addition to Zhengchuan's disclosure that both revenue (- 3.67%) and net profit (- 12.83%) will decline in 2020, Hyundai pharmaceutical's net profit will slightly decline (- 1.6%), and the remaining seven listed pharmaceutical companies, such as pianzhechong, Kanghua biological and Tonghua Dongbao, have achieved revenue and net profit growth.

Among the 6 retail consumer enterprises that disclosed the performance express, except for guangbai shares (- 70.62%) net profit (- 40.18%) and Sanjiang shopping net profit (- 24.43%) both declined, the remaining four showed a good performance.

Tianwei food, a leading compound seasoning leader from Sichuan Province to the national market, mainly deals in hot pot seasonings of "haorenjia", "Dahongpao" and "Tianwei" and Sichuan condiments. In 2020, the total operating revenue will reach 2.365 billion yuan, with a year-on-year increase of 36.91%, and the net profit attributable to the shareholders of the parent company will reach 383 million yuan, with a year-on-year increase of 29.03%.

Despite the double-digit growth of revenue and net profit, Tianwei food fell to the limit after the announcement of the performance express on January 22. At the end of the afternoon, the total market value of Tianwei food was 40.8 billion yuan, more than 4 billion yuan evaporated from the previous trading day. According to market interpretation, despite the forecast of performance growth, the growth rate of Tianwei food's performance decreased compared with the previous three quarters, and the performance did not meet the expectations of investors.

Among the 1542 A-share listed companies that have disclosed their performance forecasts, Xishui shares, which has set a three-day drop limit, is expected to have a net profit of 8.736 billion yuan in 2020, a decrease of 356.2% compared with the same period of last year.

In addition, Jinyi culture also suffered losses of more than several billion yuan. It is estimated that the lower limit of net profit in 2020 will be 3.4 billion yuan.

The trend of pharmaceutical industry differentiation is obvious

Taking the pharmaceutical industry as an example, among the nine listed companies that disclosed the performance express, the Chinese medicine manufacturing enterprise pianzheng performed well. In 2020, the revenue reached 6.507 billion yuan, a year-on-year increase of 13.72%, and the net profit attributable to the shareholders of the listed company was 1.667 billion yuan, with a year-on-year increase of 21.27%. As of January 27, the total market value of pianzai Huang exceeded 170 billion yuan.

According to Mr. Pian, the main reason for the growth of revenue is to strengthen market planning and expand sales channels. The increase in sales revenue of Zhangzhou pianzha Pharmaceutical Co., Ltd., the parent company, Fujian pianzha Cosmetics Co., Ltd. (merger) and Fujian pingzhenzhen e-commerce Co., Ltd., a subsidiary of the controlling shares, is the main reason for the increase in sales revenue.

In addition, as the first and only enterprise in China to produce human diploid cell rabies vaccine, Kanghua bio, with a stock price of about 465 yuan (closed on January 27), also has remarkable performance in 2020. On January 19, Kanghua bio released a performance forecast, with revenue of about 1.039 billion yuan in 2020, with a year-on-year increase of 87.26%, and the net profit attributable to shareholders of listed companies was about 408 million yuan, with a year-on-year increase of 118.57%.

Kanghua biology landed on the science and technology innovation board on June 16, 2020, and continuously harvested 20 limit boards. The stock price of Kanghua bio rose from the initial price of 70.37 yuan to a high of 659.97 yuan.

On January 28, a pharmaceutical industry practitioner pointed out to the reporter of the 21st century economic report that "leading enterprises pay more attention to product structure, R & D investment and market promotion, and their brand awareness is also higher, while some enterprises start to fall behind, leading to the increasingly obvious industry pattern of 28 February differentiation."

In addition, in January this year, Li Zhan, chief economist of Zhongshan securities, believed that "the overall opportunities of the pharmaceutical industry in 2021 may outweigh the risks. However, due to the growing number of individual stocks in the pharmaceutical sector and the bottom-up differentiation characteristics of pharmaceutical stocks, investment opportunities are still abundant." In Li Zhan's view, we can continue to pay attention to the high prosperity plates in line with the long-term development direction, such as innovative pharmaceutical equipment, consumer medical equipment and services, and CXO, and attach importance to the "three stupid drugs" (circulation leaders, traditional Chinese medicine consumption and some traditional pharmaceutical enterprises) with cash flow, undervalued value and active layout of innovative business.

In addition to 9 A-share pharmaceutical companies that disclosed performance express reports, 104 A-share pharmaceutical companies disclosed their performance forecasts: Yiling pharmaceutical, Shengxiang biological, Zhijiang biological, Da'an gene, Huahai pharmaceutical, etc. all predicted positive growth of their performance, accounting for 65%, and 34 of them predicted a decline in performance (including slight decrease, pre decrease, first loss and continuous loss).

Shengxiang bio, which is mainly engaged in the field of in vitro diagnosis, is expected to achieve a net profit of 2.556 billion yuan to 2.806 billion yuan in 2020, with a year-on-year increase of 6375% - 7008%.

Shengxiang biological Co., Ltd. has fully seized the opportunity of nucleic acid detection. In 2020, the company's new crown nucleic acid detection reagents, nucleic acid detection instruments, related consumables and other products sales increased significantly. At the same time, the company's instrument sales and installed capacity growth further drive the incremental sales of the company's reagent line. In 2020, the company will deliver 6122 sets of instruments in total.

In sharp contrast, Jincheng pharmaceutical, which is also a participant in the pharmaceutical industry, is expected to make a net profit loss of 450 million to 500 million yuan in 2020. According to the preliminary calculation of the company, it is planned to make a total of 742 million yuan for goodwill impairment of Beijing Jincheng Taier Pharmaceutical Co., Ltd. and Shanghai Jincheng Suzhi Pharmaceutical Co., Ltd. After the withdrawal, the balance of goodwill of Jincheng Taier and Jincheng Suzhi is 0.

Among the 104 A-share pharmaceutical companies that have disclosed their performance forecasts, Zixin pharmaceutical, Zhongsheng pharmaceutical, Sato bio and St Jintai are all expected to have "first loss". Zhongsheng pharmaceutical is expected to have a net profit loss of 380 million yuan to 450 million yuan in 2020, and a profit of 317 million yuan in the same period of last year.

Zhongsheng pharmaceutical's performance plummeted mainly due to the provision for goodwill impairment of wholly-owned subsidiaries and holding subsidiaries.

Among them, Zhongsheng Pharmaceutical Co., Ltd. plans to withdraw the goodwill impairment reserves from Guangdong Xianqiang Pharmaceutical Co., Ltd., a wholly-owned subsidiary of the company, from RMB 740 million to RMB 780 million; and from Guangdong Yishu Pharmaceutical Co., Ltd., a holding subsidiary of the company, Zhongsheng Pharmaceutical Co., Ltd The company plans to fully withdraw 8.92 million yuan of goodwill impairment reserves for Guangzhou Tangwang Medical Technology Co., Ltd., a wholly-owned subsidiary of the company.

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