Version 1 of December 2, 2023.
1 General overview of the industry.
1) The pharmaceutical industry has a special "status" in A-share investment, firstly, because the pharmaceutical industry has a relatively independent industrial development cycle and is not highly correlated with the macroeconomy, investing in the pharmaceutical industry can have the effect of enriching the diversity of the portfolio;Second, the diversity of medicine is very high, from the perspective of investment attributes, both science and technology, consumption and cyclical attributes, from the perspective of industrial classification, there are both manufacturing, service industry, and upstream industrial service industry;Third, the process of integrating China's pharmaceutical industry into globalization is still relatively long, and it is relatively less affected by de-globalization.
2) With the rapid improvement of domestic innovative drug R&D strength, the advantages of drug innovation and R&D efficiency have been recognized globallyDomestic innovative drug companies may be more active in finding new ways out and development spaceGoing overseas may become a major trend. Domestic companies are scrambling to put their overseas strategies into practice and accelerate the process of globalization.
3) At present, China is a major industrial and pharmaceutical country in the world, with a complete industrial chain, and the number of varieties and production capacity of pharmaceutical products rank among the top in the world. The existing domestic drug approval number is 1550,000, medical device filing and registration certificate 2450,000 sheets.
5) From the experience of overseas mature markets, there are many generations of pharmaceutical products. At the same time, the pharmaceutical industry will continue to face the risk of product patent expiration and patent cliff, so if a pharmaceutical company wants to continue to create value, it must have continuous research and development capabilities and the ability to continuously launch new products. Especially in the field of oncology and medical devices, these companies with continuous R&D capabilities have the potential to grow long.
Information about the policy
The "Outline of the Strategic Plan for Expanding Domestic Demand (2022-2035)" issued by the Communist Party of China pointed out that it is necessary to actively develop service consumption and provide multi-level medical and health services. These include promoting the high-quality development of public hospitals, supporting social forces to provide multi-level and diversified medical services, actively developing traditional Chinese medicine, actively developing personalized medical services, optimizing the types of vaccines in the national immunization program in a timely manner, and gradually incorporating safe, effective and financially affordable vaccines into the national immunization program.
On February 10, 2023, the State Food and Drug Administration issued the Special Provisions on the Registration and Administration of Traditional Chinese Medicines, which will come into force on July 1, 2023. The implementation of the "Special Provisions" is expected to further promote the inheritance, innovation and development of traditional Chinese medicine, and stimulate the vitality of the development of new traditional Chinese medicines. At the same time, benefiting from policy support and consumption upgrading, the overall demand of the Chinese medicine industry continues to improve.
On February 28, the General Office of the People's Republic of China issued the "Implementation Plan for Major Projects for the Revitalization and Development of Traditional Chinese Medicine". On the basis of the "14th Five-Year Plan for the Development of Traditional Chinese Medicine" issued by the State Council, the "Implementation Plan" further clarifies the supporting measures and departmental division of labor of various projects, and puts forward a more comprehensive and detailed plan in all aspects of the development of traditional Chinese medicine, aiming to increase the support and promotion of the development of traditional Chinese medicine during the "14th Five-Year Plan" period, and strive to promote the revitalization and development of traditional Chinese medicine.
4) On March 21, the National Health Commission issued the "Catalogue of Large-scale Medical Equipment Configuration License Management (2023)". Compared with the 2018 edition of the catalogue, the number of managed items has been adjusted from 10 to 6, of which the number of items in Category A has been reduced from 4 to 2, the number of Category B has been reduced from 6 to 4, and the number of CTs with 64 rows and above has been reduced from 1MR equipment of 5T and above has been transferred out of the configuration license management catalog, and the standards for Class A and Class B have been significantly increased compared with before. The relaxation of the restrictions on configuration certificates exceeds expectations, which is conducive to the rapid release of the previously restricted demand and incremental procurement demand of hospitals, and accelerates the process of domestic substitution of large-scale equipment.
5) On July 28, the ** Commission for Discipline Inspection and the State Supervision Commission held a mobilization meeting in Beijing to deploy discipline inspection and supervision organs to cooperate with the centralized rectification of corruption in the national pharmaceutical field. The meeting proposed that the endogenous power to fulfill the main responsibility should be stimulated by the external thrust of supervision, and the systematic governance of the whole field, the whole chain and the full coverage of the pharmaceutical industry should be carried out in depth. Intensify discipline and law enforcement, keep a close eye on leading cadres and personnel in key positions, adhere to the joint investigation of bribery, and concentrate on investigating and dealing with a number of corruption cases in the pharmaceutical field, so as to form a momentum deterrent.
6) The executive meeting held on August 25 reviewed and approved the Action Plan for the High-quality Development of the Pharmaceutical Industry (2023 2025) and the Action Plan for the High-quality Development of the Medical Equipment Industry (2023 2025).
About the basics
Chemical Pharmaceuticals
As the world's largest producer and exporter of APIs for many years, China's API product types are mainly bulk APIs, and it has strong competitiveness in more than 60 products such as vitamin C, penicillin potassium salt, paracetamol, and aspirin.
Medical devices
1) Medical devices are a multidisdisciplinary, knowledge-intensive, and capital-intensive high-tech industry, with a wide range of industrial chains and many subdivisions. The upstream of the industrial chain mainly includes metal materials, composite materials, biomaterials, technical support, etc., and there are many related disciplinesThe midstream of the industrial chain can be divided into many subdivisions such as medical equipment, medical consumables and in vitro diagnosticsThe downstream of the industrial chain is mainly retail and medical institutions.
2) At present, China's medical device enterprises are still showing a "small and scattered" situation. According to the data of Shenzhen Medical Device Industry Association, the total revenue of the top 10 global medical device revenue companies in 2021 will be about 198.7 billion US dollars, which is 10 of the top 10 medical device revenue companies in China in the same period4 times, the total revenue of the top 20 companies in the world in terms of medical device revenue is about 301.2 billion US dollars, which is 11 times that of the top 20 companies in China's medical device revenue in the same period. From the perspective of market concentration, from 2019 to 2021, the top 100 companies in global medical device revenue accounted for the proportion of the overall global market. 70%, and the proportion of China's top 100 listed companies in China's overall market in terms of medical device revenue in the same period is %, and the market concentration of China's medical device enterprises still has a lot of room for improvement.
Traditional Chinese medicine
1) Traditional Chinese medicine refers to the medicinal materials used for the prevention and prevention of diseases under the guidance of traditional Chinese medicine theory, usually including natural medicinal materials, Chinese medicine decoction pieces and Chinese medicine preparations. The data shows that the market size of the traditional Chinese medicine industry is expanding in recent years, for example, in 2021, the revenue of the Chinese patent medicine and traditional Chinese medicine decoction pieces industry in China's pharmaceutical industry will account for 17% and 7% respectively, reaching a total of about 24%, and the market size is close to 700 billion.
2) Zheshang ** pointed out that the traditional Chinese medicine industry is in the business improvement cycle after the industry is cleared, and some state-owned enterprises have reformed traditional Chinese medicine enterprises to see continuous improvement in net profit margin. The announcement of the Administrative Measures for the Registration of Traditional Chinese Medicine provides a direction for the research and development of innovative Chinese medicine drugs, and in the future, traditional Chinese medicine is expected to enter the era of new product drive, and the value of the pipeline of innovative Chinese medicine enterprises can be reflected. The follow-up promotion of the basic drug catalogue is expected to provide a new driving force for the promotion of new basic drugs in traditional Chinese medicine at the grassroots level.
3.4 Biopharmaceuticals.
Biological drugs mainly refer to drugs made using biotechnology. Biological drugs have become a hot spot in the global pharmaceutical industry due to their good efficacy, high safety and low toxicity, and have been increasingly used in the diagnosis and treatment of chronic major diseases such as tumors, metabolism and immunity in recent years. Biological drugs are mainly divided into vaccines, blood products, recombinant protein drugs, antibody drugs, cells and genes** (CGT), etc.
Biopharmaceuticals are the leading development direction of the global pharmaceutical industry, and China's biopharmaceutical industry is in a stage of rapid development. The midstream of the biopharmaceutical industry is the R&D and production of biological drugs, which is the core link of the industrial chain, and China has cultivated a number of leading biopharmaceutical companies with strong comprehensive strength. The scale of China's vaccine market has exceeded 100 billion, and the seven major companies occupy half of the country. The market size of blood products is about 40 billion yuan, and the industry competition pattern is good, and there is a trend of concentration. The market size of recombinant protein is about 80 billion yuan, and the main products are insulin products and recombinant cytokines. China's antibody drugs have a market size of nearly 100 billion yuan, and they are still growing rapidly. Cell and gene ** is an emerging market with huge development potential, China's current market size is still small, about 1.5 billion yuan, but the growth rate is fast.
The biopharmaceutical industry is strongly supported by the national industrial policy. During the "14th Five-Year Plan" period, the national and local industrial policies continued to increase support for the biopharmaceutical industry, focusing on cultivating the biopharmaceutical industry as a strategic emerging industry, promoting the rapid development of the biopharmaceutical industry, and building a world-class biomedical industry cluster.
Some key areas have formed a trend of agglomeration of biomedical industrial parks. The biomedical industrial park is an important carrier for the agglomeration of the pharmaceutical industry. China has formed an industrial agglomeration trend with the Yangtze River Delta, Bohai Rim and the Greater Bay Area as the core, and Chengdu-Chongqing, the middle reaches of the Yangtze River and the Northeast region radiating development. The main development trends of biomedical industrial parks are to accurately position the park, enhance the degree of industrial agglomeration, enhance the innovation ability, and enrich the financing channels of enterprises.
5) China's biomedical industry is expected to cultivate trillions of yuan of pillar industries, including the development of new vaccines and the industrialization of biotechnological drugs such as modified traditional vaccines, antibody drugs and protein drugs, the research and product development of major disease diagnosis and detection technology, the research and application of biological technology such as gene and cell, and regenerative medicine technology.
The situation in the field of science and technology
4.1 Stem cells.
1) Stem cells are a kind of origin cells with the ability of proliferation, differentiation and self-renewal, which are called "universal cells" in the medical community, which can be used for damage repair and anti-aging of tissues and organs, and have great application potential in promoting human health and major refractory diseases.
Stem cells** refers to the replacement of diseased tissues and organs with stem cell-derived tissues or organs, and is used for diseases that cannot be treated by traditional medical methods, such as spinal cord injury, diabetes, and ischemic heart disease. The stem cell medical industry is the entire industry including stem cell extraction, stem cell storage, stem cell product research and development, and stem cell **.
The development of stem cell medicine in China in the past ten years has gradually moved from ambiguity and confusion to standardization, industrialization and clarification. So far, China's basic stem cell research has been at the forefront of the world, but it is still facing bottlenecks in clinical transformation. With the release of relevant legal standards for stem cell clinical practice, China has gradually entered the era of comprehensive and orderly development of stem cell clinical practice.
4) According to the research data of QYRESEARCH, from 2020 to 2026, the compound growth rate of the market size of China's stem cell medical industry will be about 15%, and in the next few years, the market size of China's stem cell medical industry will further account for the proportion of the global market size. It is conservatively estimated that by 2026, the market size of China's stem cell medical industry will reach 32.5 billion yuan.
Innovative drugs
1) Innovative drugs refer to drugs with independent intellectual property rights and patents. Compared with generic drugs, innovative drugs emphasize novel chemical structures or new uses, which have not appeared in previous research literature or patents. At the same time, it has not been marketed at home and abroad, and it is a new drug with obvious clinical application value and advantages.
2) From the perspective of the domestic market, more than ninety percent of the current pharmaceutical market are generic drugs, and the proportion of innovative drugs is slightly weaker than that of developed countries such as Europe and the United States. However, from another point of view, the domestic innovative drug industry has a broader space for development.
3) From the policy level, China is accelerating the transformation from "imitation-driven" to "innovation-driven". Since August 2015, a number of encouraging policies have been introduced for the development of the innovative drug industry, including the acceleration of the review and approval of innovative drugs, the entry of innovative drugs into the dynamic adjustment catalogue of medical insurance through medical insurance negotiation after marketing, and related supporting policies.
4) More than 20 approvals have been obtained in 50 countries and regions, including the United States, China, the European Union, the United Kingdom, Canada, Australia and other international markets, and more than 40 regulatory applications are under review worldwide.
5) Everbright** believes that the development of the domestic innovative drug industry is becoming more and more mature, the policy framework is gradually improving, the international competitiveness is gradually improving, the commercialization environment of domestic innovative drugs continues to improve, and the logic of going overseas is gradually being realized. After a long period of time**, many high-quality innovative drug companies have become more attractive for investment.
Historical data
5.1 2022.
1) On February 22, the report "Development Status and Trends of China's Medical Device Industry" released by Roland Berger, an international management consulting company, shows that the scale of China's medical device market is expected to reach 958.2 billion yuan in 2022, with a compound growth rate of about 17 in the past seven years5%, which has jumped to become the second largest market in the world outside the United States.
Current status and relevant statistics
1) According to the third quarterly report of listed companies, 76 listed Chinese medicine companies have achieved substantial growth in performance as a whole, and their net profit has increased by nearly 40%. From the perspective of industry differentiation, while 54 companies achieved net profit growth, 22 companies experienced a year-on-year decline in net profit.
2) According to the industry development report released by the Medical Device ** Chain Branch of the China Federation of Logistics and Purchasing on November 26, the market size of China's medical device industry is expected to reach 125 trillion yuan, a year-on-year increase of 16%.
Industry trends and outlook
1) The State Food and Drug Administration stated that China will continue to optimize and improve the approval of clinically urgently needed drugs, rare disease drugs, children's drugs, domestic alternative products, and "stuck neck" products, and promote the listing of a number of landmark innovative drugs and devices with high technology, good efficacy and great influence.
2) China Post** research report said that in 2023, the overall recovery of medical service targets will be slow due to the epidemic at the beginning of the year and the decline in consumption power, but it is expected to have significant marginal improvement in 2024. In terms of dentistry, the impact of the price reduction of dental implant centralized procurement will be fully reflected in 2023, and the current volume has entered a stage of rapid increase, and the overall income is expected to grow rapidly in 2024In terms of ophthalmology, it is expected that the refractive growth rate will remain stable, the demand for optometry will be more rigid and the customer order will be low, and it is expected to maintain rapid growth in the future, and related targets will continue to contribute incremental performance through mergers and acquisitionsIn terms of assisted reproduction, favorable policies have promoted the increase in penetration, and there is a fundamental boost from endogenous recovery + capacity expansion + business expansion + epitaxial acceleration;In terms of physical examination, the industry demand is stable, and leading companies are expected to achieve continuous optimization of customer structure by creating differentiated advantages, promote the increase of customer unit value, and profit margin is expected to recover quickly.
3) Anxin** released a research report saying that the current domestic innovative drug industry is in a stage of vigorous development, and from the perspective of investment and the development of the industry itself, there are currently a number of positive factors, superimposed on the new breakthroughs in the field of innovative drugs (weight loss, Alzheimer's disease, NASH, hair loss, hepatitis B, autoimmune diseases, etc.), new progress in internationalization and other positive factors in the industry, and the current investment value of the innovative drug industry is highlighted.
4) Zhongtai ** research report pointed out that the pharmaceutical valuation and chip structure have the prerequisites for getting out of the plate, considering the current policy and fundamentals of the bottom position, superimposed on the long-term growth trend of the pharmaceutical industry in the context of aging, the follow-up is expected to usher in catalysis, and it is recommended to actively lay out opportunities in the pharmaceutical sector. Based on the logic, it is recommended to improve the overall allocation of the pharmaceutical sector.
Relevant information of listed companies
Listed companies in various segments
1) Chemical and pharmaceutical sector.
There are 125 companies in total, including 74 on the main boards of Shanghai and Shenzhen, 34 on the ChiNext Board, and 17 on the Science and Technology Innovation Board.
2) Biomedical sector.
There are 122 companies in total, including 30 on the main boards of Shanghai and Shenzhen, 40 on the ChiNext Board, and 52 on the Science and Technology Innovation Board.
3) Medical device sector.
There are 92 in total, including 16 on the main boards of Shanghai and Shenzhen, 39 on the ChiNext Board, and 37 on the Science and Technology Innovation Board.
4) Traditional Chinese medicine sector.
There are 67 companies in total, including 56 on the main boards of Shanghai and Shenzhen, and 11 on the GEM.
5) Medical service sector.
There are 29 companies in total, including 17 on the main boards of Shanghai and Shenzhen, 11 on the Growth Enterprise Market and 1 on the Science and Technology Innovation Board.
6) Pharmaceutical business sector.
There are 43 companies in total, including 33 on the main boards of Shanghai and Shenzhen, 9 on the ChiNext Board, and 1 on the Science and Technology Innovation Board.
Top 10 companies by revenue in the first three quarters of 2023
1) Chemical and pharmaceutical sector.
Humanwell Pharmaceutical (18.1 billion), Hengrui Pharmaceutical (17 billion), Kelun Pharmaceutical (15.7 billion), Jianxingyuan (12.7 billion), Harbin Pharmaceutical (11.5 billion), Xinhecheng (11 billion), Livzon Group (9.7 billion), Sinopharm Modern (9.2 billion), Hisun Pharmaceutical (8.7 billion), Puluo Pharmaceutical (8.5 billion).
2) Biomedical sector.
Zhifei Biotech (39.3 billion), Fosun Pharma (30.7 billion), BeiGene (12.9 billion), Changchun High-tech (10.7 billion), Pharmaron (8.6 billion), Liaoning Chengda (7.8 billion), Shanghai RAAS (5.9 billion), Wantai Biotech (5 billion), Bloomage Biotech (4.2 billion), Hepalink (4.1 billion).
3) Medical device sector.
Mindray Medical (27.3 billion), United Imaging Medical (7.4 billion), Xinhua Medical (7.3 billion), Yuyue Medical (6.7 billion), Lepu Medical (6.3 billion), Robust Medical (6 billion), Guoke Hengtai (5.8 billion), Chutian Technology (5.1 billion), Yingke Medical (5 billion), Shandong Pharmaceutical Glass (3.7 billion).
4) Traditional Chinese medicine sector.
Baiyunshan (58.2 billion), Yunnan Baiyao (29.7 billion), China Resources Sanjiu (18.6 billion), Tong Ren Tang (13.7 billion), Taiji Group (12.2 billion), Buchang Pharmaceutical (10 billion), Yiling Pharmaceutical (8.6 billion), Pien Tze Huang (7.6 billion), Tasly (6.6 billion), Darentang (5.8 billion).
5) Medical service sector.
WuXi AppTec (29.5 billion), Aier Ophthalmology (16 billion), Meinian Health (7.2 billion), Jinyu Medical (6.3 billion), Tigermed (5.7 billion), International Medical (3.3 billion), Huaxia Ophthalmology (3.1 billion), Tongce Medical (2.2 billion), Preh Ophthalmology (2.2 billion), Zhaoyan New Drug (1.6 billion).
6) Pharmaceutical business sector.
Shanghai Pharmaceutical (197.5 billion), Jointown (114.4 billion), Heavy Pharmaceutical Holdings (58.4 billion), Sinopharm Accord (56.6 billion), Nanjing Pharmaceutical (40.5 billion), Sinopharm (36.5 billion), Huadong Medicine (30.4 billion), China Pharmaceutical (29.8 billion), Neptunus Biotechnology (28.6 billion), Inter Group (23.9 billion).
The top 10 companies ranked by deducting non-net profit in the first three quarters of 2023
1) Chemical and pharmaceutical sector.
Hengrui Pharmaceutical (33.)600 million), Kailaiying (20400 million), Xinhecheng (19500 million), Kelun Pharmaceutical (19200 million), Jichuan Pharmaceutical (18300 million), Livzon Group (15800 million), Humanwell Pharmaceutical (15000 million), health yuan (10500 million), China Resources Shuanghe (10100 million), Jiuzhou Pharmaceutical (9500 million).
2) Biomedical sector.
Zhifei Biotech (63.)800 million), Changchun High-tech (36200 million), Shanghai RAAS (18100 million), Wantai Biotechnology (16700 million), Fosun Pharma (14700 million), Pharmaron (10800 million), Hualan Biotechnology (9100 million), Temple of Heaven (8800 million), Antu Biotech (8700 million), Tonghua Dongbao (7600 million).
3) Medical device sector.
Mindray Medical (96.)900 million), Yuyue Medical (16700 million), Aimeike (140 billion), Lepu Medical (12900 million), new industries (11000 million), United Imaging Medical (8300 million), Jiu'an Medical (6900 million), Robust Medical (6200 million), Shandong Pharmaceutical Glass (5900 million), Xinhua Medical (5600 million).
4) Traditional Chinese medicine sector.
Yunnan Baiyao (38.)500 million), Baiyun Mountain (34400 million), Pien Tze Huang (24400 million), China Resources Sanjiu (23000 million), Yiling Pharmaceutical (16400 million), Tong Ren Tang (13800 million), Jilin Aodong (11700 million), Tasly (10500 million), Darentang (8400 million), Buchang Pharmaceutical (80 billion).
5) Medical service sector.
WuXi AppTec (77.)100 million), Aier Ophthalmology (31100 million), Tigermed (12000 million), Huaxia Ophthalmology (5700 million), Tongce Medical (5000000000000000000000000000000000 billion).
Jinyu Medical (3.)400 million), Zhaoyan New Drug (3.100 million), Preh Ophthalmology (2300 million), Meinian Health (2300 million).
6) Pharmaceutical business sector.
onHai Pharmaceutical(33.)000 million), Huadong Medicine (21600 million), Jointown (17300 million), Sinopharm (14300 million), Dashenlin (11600 million), Sinopharm (11400 million), Yifeng Pharmacy (9700 million), Yixintang (6800 million), Liu Pharmaceutical Group (6700 million), the common people (6500 million).
There are 57 major state-owned enterprises
1) 17 companies in the chemical and pharmaceutical sector.
5 central enterprises: Sinopharm Modern, China Resources Shuanghe, Hainan Haiyao, Tianfang Pharmaceutical, and Boya Biotechnology.
12 local state-owned enterprises:
North China Pharmaceutical, Lisheng Pharmaceutical, Nanxin Pharmaceutical, Jinling Pharmaceutical, Laimei Pharmaceutical, Lukang Pharmaceutical, Lianhuan Pharmaceutical, Huaren Pharmaceutical, Xinhua Pharmaceutical, Walter Dyne, Senxuan Pharmaceutical, Guangji Pharmaceutical.
2) 16 companies in the Chinese medicine sector.
5 central enterprises: Taiji Group, China Resources.
Three. 9. Jiangzhong Pharmaceutical Co., Ltd., Dong'e Ejiao, and Kunming Pharmaceutical Group.
11 local state-owned enterprises:
Foci Pharmaceutical, Kangenbei, Tongrentang, Longshen Rongfa, Qianjin Pharmaceutical, Guangyuyuan, Zhongheng Group, Hongri Pharmaceutical, Essence Pharmaceutical, Pien Tze Huang, Baiyunshan.
3) 12 companies in the pharmaceutical business sector.
3 central enterprises: China National Medicine, Sinopharm Accord, and Sinopharm Co., Ltd.
9 local state-owned enterprises:
Shanghai Pharmaceutical, Runda Medical, Heavy Pharmaceutical Holdings, Kaikai Industrial, Inter Group, Fudan Fuhua, Zhejiang Zhenyuan, First Pharmaceutical, Nanjing Pharmaceutical.
4) 8 companies in the biomedical sector.
1 central enterprise: Tiantan Biology.
7 local state-owned enterprises:
Changchun High-tech, Xuantai Pharmaceutical, Dezhan Health, Da'an Gene, Chengda Biotechnology, Baike Biotechnology, Weiguang Biotechnology.
5) 4 companies in the medical device sector.
There are 4 local state-owned enterprises: Zhonghong Medical, Yangpu Medical, Shandong Pharmaceutical Glass, and Xinhua Medical.
Track 7 categories of ETFs** in the Healthcare sector.
1) 5 categories of industries.
It mainly includes: pharmaceutical ETF (159929), medical ETF (512170), medical equipment ETF (159883), traditional Chinese medicine ETF (159647), and biomedical ETF (512290).
Basically, it corresponds to 5 sub-sectors of the pharmaceutical and medical industry, and there is currently no ETF** tracking the pharmaceutical business sector.
2) There are two categories of thematic concepts: innovative drug ETF (159992) and vaccine ETF (159643).
6.6 Basic information about **.
1) Hengrui Pharmaceutical (600276): Hengrui Pharmaceutical is a leading enterprise in China's pharmaceutical industry, focusing on R&D, production and sales of drugs. The company has a rich product line, covering oncology, anesthesia, anti-infection and other fields.
2) Mindray Medical (300760): Mindray Medical is a leading global manufacturer of medical equipment, including monitors, ultrasound machines, ventilators, etc. The company's products have been sold to more than 190 countries and regions around the world.
3) WuXi AppTec (603259): WuXi AppTec is a leading drug discovery service provider in China, committed to providing one-stop drug discovery services for global pharmaceutical companies. The company has established branches in the United States, Europe, and other places.
4) Zhifei Biotech (300122): Zhifei Biotech is a biomedical company focusing on vaccine R&D and sales, including BCG vaccine for tuberculosis prevention. The company's products have been widely used throughout the country.
5) Hongri Pharmaceutical (300026): Hongri Pharmaceutical is a pharmaceutical enterprise focusing on the research and development and sales of traditional Chinese medicine, and its products include traditional Chinese medicine formula granules, traditional Chinese medicine preparations, etc. The Company's products have a certain market influence in the field of traditional Chinese medicine.
6) Kangtai Biology (300601): Kangtai Biology is a biopharmaceutical enterprise focusing on vaccine research and development and sales, and its products include a variety of vaccines and specific immunity products. The Company's products play an important role in the prevention of infectious diseases.
7) Fosun Pharma (600196): Fosun Pharma is a comprehensive pharmaceutical enterprise covering drug R&D, production and sales. The company owns a number of well-known brands, such as "Tai Chi Huoxiang Zhengqi Water", "Kampo Motherwort Pills" and others.
8) BGI (300676): BGI is a leading provider of gene sequencing and analysis services in China, dedicated to providing gene sequencing and bioinformatics analysis services to scientific research institutions and medical institutions around the world.
9) Yunnan Baiyao (000538): Yunnan Baiyao is a well-known traditional Chinese medicine enterprise in China, and its main products are Yunnan Baiyao series of drugs. The Company's products have a high market share in the fields of bruises, injuries and hemostasis.
10) Pien Tze Huang (600436): Pien Tze Huang is a pharmaceutical company with a unique secret recipe of traditional Chinese medicine, and its main products are Pien Tze Huang series of drugs. The Company's products have significant therapeutic effects in liver diseases, cancer and other fields.