Looking Forward To The Semi Annual Report Of The Science And Technology Innovation Board: The "Epidemic Bonus" Of Biomedicine Is Still In The Electronic Industry

The second quarter of 2021 is coming to an end, and the semi annual market is about to open. With "hard science and technology" as the background color, the science and Technology Innovation Board companies have announced the semi annual results one after another, from which we can get a glimpse of the overall situation of various sectors.

According to the statistics of 21st century economic reporter, as of the closing of June 23, 52 companies in the science and Technology Innovation Board issued semi annual performance forecasts, including 14 companies with good performance forecast, 3 companies turning losses, 2 companies anticipating reduction, 22 companies continuing losses, 2 first loss and 9 uncertain.

From the industry point of view, the biopharmaceutical sector showed great performance differentiation, with the largest number of loss making enterprises, mainly new drug R & D enterprises, but the profit growth rate was also in this field, mainly Xinguan detection reagent providers. In addition, the software industry has also seen a number of companies continue to lose, mainly due to the seasonal fluctuations in the industry.

In addition, the 21st century economic reporter noted that there are as many as nine enterprises that have made "uncertain" forecasts on their semi annual performance, mainly semiconductor industry and biopharmaceutical companies. Combined with the current background, the continuous lack of core has brought more variables to the upstream and downstream of the semiconductor industry chain. Although many Biopharmaceutical Enterprises have given "uncertain" forecasts for the semi annual performance, it is actually the uncertainty of the growth rate of performance in the deterministic growth.

Generally optimistic about the performance of IVD companies

In the first quarter report card of this year's science and technology innovation board, the performance of in vitro diagnosis companies represented by Oriental Biology (688298. SH) and hot landscape Biology (688068. SH) has achieved a net profit growth of more than 1000 times.

The company has announced that the company's significant growth in the first quarter was mainly due to the outbreak of the second wave of new coronavirus in Europe and the explosive growth of foreign trade orders brought by the sales of new crown antigen rapid detection reagents developed by the company. From the situation in the second quarter, the demand for overseas new crown detection is still growing. Market participants predict that the performance of hot scene will continue to increase in the first half of the year.

The basis for the above judgment is that the new coronavirus detection reagent exported to Germany was certified on March 2 and 22, respectively, with a validity period of three months, and the expiration time of certification was June 2 and June 20, respectively. In other words, under the situation that the epidemic situation in Europe has not been completely controlled, judging only from the effective time of certification, the foreign trade orders of hot scene biology are still expected to achieve a year-on-year explosive growth in the second quarter.

The situation of shuoshi biological (688399. SH) is similar, although the company's semi annual performance forecast is "uncertain", further, the year-on-year substantial growth in data is almost "certain".

In the first quarter of this year, the sales volume of new coronavirus detection reagents, instruments and other related products increased significantly in the short term, with a net profit of 388 million yuan, which has exceeded the level of January June 2020 (308 million yuan). The company forecasts that the accumulated net profit from January to June in 2021 will increase by a certain scale compared with the same period of last year.

In terms of the overseas market, the new coronavirus detection reagent developed by Bosch biological was certified by EU and Australia last year.

Dongfang bio, another provider of new coronavirus detection products, judged the performance of the first half of the year as "a substantial increase year on year".

However, in the market's high attention, the three companies have the same risk tips. With the effective control of the epidemic, the sales volume of related products will decline, and overseas business promotion is uncertain, so it is impossible to predict the specific range of the year-on-year growth of net profit from January to June. Redview also said that business performance is highly uncertain.

However, there are cases of India epidemic ahead, market participants are not optimistic about the control of overseas epidemic situation, and the growth of IVD companies is still expected. In the secondary market, the three companies are sought after by funds. Since April, the stock prices of rejing, Dongfang and shuoshi have increased by 296%, 57% and 21% respectively.

Ma Shuai, chief analyst of the pharmaceutical industry of Anxin securities, believes that "the demand for home testing products in some European countries is growing rapidly. Once the products are put on the market, they are in short supply. The sales channels are further expanded from pharmacies to supermarkets. The British government encourages people to carry out virus testing twice a week. Therefore, the new crown detection business is expected to continue to drive the company's performance growth. "

It is worth noting that another biomedical company has benefited from the new coronavirus epidemic. Consinor-u (688185. SH) predicts that the company's net profit will turn positive in the first half of this year, which will be a historic turning loss into a profit. The reason is the commercialization of the recombinant new coronavirus vaccine.

In the first quarter report, koncino disclosed that the recombinant new coronavirus vaccine has obtained emergency use authorization from Mexico, Pakistan and other countries and China's conditional listing approval, which has a positive impact on the company's main business income. It is expected that the accumulated net profit from the beginning of the year to the end of the next reporting period will be positive.

Semiconductor industry disturbed by uncertain factors

Different from the above-mentioned deterministic growth in biotechnology, in the electronics industry, due to the impact of the lack of core, the semi annual performance of relevant science and Technology Innovation Board companies has been disturbed.

The typical representative is Youfang Technology (688159. SH). The company provides access communication products and related services for the industrial Internet of things. One of the main products is the wireless communication module of the Internet of things, which is the core component of the connection network of intelligent internet terminal products. In the first quarter of this year, the number of orders received by Youfang technology increased significantly compared with the same period last year. However, affected by factors such as the supply of raw materials for chips in the market, the company's revenue in the first quarter increased by only about 14% compared with the same period last year.

If based on the optimistic judgment of chip supply, Youfang technology expects to achieve a substantial growth in the first half of the year, but this situation is uncertain.

"As of mid April, more than 250 million yuan of orders in hand had not been delivered," the company said. The industry expects that the supply of upstream chips and other raw materials will begin to ease in the second quarter. According to the orders in hand and the supply of chips, the company expects to achieve an operating revenue of 400-500 million yuan in the first half of the year, an increase of more than 40% compared with the same period last year. However, if the supply of chips fails to ease or the price fluctuates greatly, the accumulated net profit in the first half of the year may still lose, But the profit expected to be realized in the second quarter will reduce the accumulated loss. "

Hehui optoelectronic-u (688538. SH), the main display panel, is expected to still be in a loss in the first half of this year. Chip is one of its important raw materials, and the change trend of its purchase price and product sales price is an important factor affecting the improvement of the company's profitability. "The price of raw materials such as follow-up chips, polarizers and substrate glass does not rule out the risk of continued rise, which will have an adverse impact on profitability," the company said

However, there is still a shortage of chips in the current market. According to a new institutional study, the lead time for chips in May increased by another seven days to 18 weeks compared with the previous month, indicating that chip manufacturers are more difficult to meet market demand.

In view of the uncertainty brought by chips, downstream companies in the industrial chain are also actively coping with it.

Hongquan IOT (688288. SH), whose main business is the Internet of things, said on the interactive platform a few days ago that "the company had made corresponding preparations before the raw material supply problem appeared, and maintained strategic reserves and rolling stock for key raw materials including chips for more than six months. At present, the phenomenon of chip shortage and price rise is also an opportunity for enterprises with supply chain advantages to consolidate customer relationship and even increase market share. "

"This round of chip shortage is affecting the performance of upstream and downstream enterprises. This is a test of the capital strength and supply chain management ability of semiconductor upstream and downstream enterprises. How to make an estimate according to customer demand, or even make more forecasts to prepare goods, can guarantee the delivery under this abnormal situation and reduce the performance impact caused by the price fluctuation of raw materials. " A semiconductor industry employee in Jiangsu told reporters.

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