Just over a month into 2024, Pien Tze Huang urgently issued an announcement on the forecast increase of the first quarterly report.
On the afternoon of January 31, Pien Tze Huang, an A-share listed company, disclosed that after the company's preliminary accounting, it is expected that in the first quarter of 2024, the company's net profit attributable to shareholders of listed companies will increase by no less than 25% year-on-year. This is also the first quarterly report of A-shares in 2024.
It is worth noting that Pien Tze Huang just announced the 2023 performance pre-profit report the day before, and the company's leading products handed over a report card of performance growth after the price increase in 2023, but it may be affected by the performance growth rate is less than expected16%, and the latest market value is 120.3 billion yuan.
Pien Tze Huang's share price fell sharply or because its performance fell short of expectations.
On the evening of January 30, Pien Tze Huang released a performance express report, saying that the company's total operating income in 2023 will be 1003.5 billion yuan, a year-on-year increase of 1542%, and the net profit attributable to the parent company was 278.4 billion yuan, a year-on-year increase of 1259%。The company explained that the year-on-year increase in total operating income was mainly due to the company's strengthening of market planning and expansion of sales channels, and the increase in sales revenue of the company, its holding subsidiary Fujian Pien Tze Huang Health Technology Co., Ltd., and its holding subsidiary Pien Tze Huang (Zhangzhou) Pharmaceutical Co., Ltd. The increase in performance was mainly due to the increase in operating profit due to the increase in sales of the company's core products, Pien Tze Huang series products and Pien Tze Huang brand Angong Niuhuang Pill.
Today, Pien Tze Huang's share price opened suddenly after disclosing the performance report.
Pien Tze Huang's performance is less than expected or the main reason for the company's stock price plummeting. In May 2023, Pien Tze Huang announced a price adjustment for the first time in three years, and the price adjustment was also the largest increase in history, but the market believes that the company's performance growth rate is not as fast as expected after the price adjustment.
Pien Tze Huang announced in May 2023 that in view of the main raw materials and labor costs of Pien Tze Huang products, it was decided that from the date of the announcement, the retail sales of the company's leading product Pien Tze Huang lozenges in the domestic market will be raised from 590 yuan to 760 yuan, an increase of 288%, * the corresponding increase is about 170 yuan; Overseas markets*** will be raised by about $35 accordingly.
After the price increase of the company's leading products, Pien Tze Huang's revenue and net profit in the third quarter of 2023 have achieved steady growth, with a single quarter of 8The net profit attributable to the parent company of 6.4 billion yuan was the second highest in the same period in history, second only to 89.6 billion yuan. However, the contribution to the company's performance after the price adjustment was not satisfactory in the fourth quarter.
Compared with the performance of the third quarter, Pien Tze Huang's net profit in the fourth quarter was only 37.9 billion yuan, the worst quarter performance in a single quarter since 2021. Pien Tze Huang will achieve 12 in 202359% performance growth, up from 166% growth, but still less than the growth rate between 2016 and 2021.
After the stock price plummeted in early trading on January 31 and closed the fall limit, Pien Tze Huang made an emergency disclosure announcement at noon saying that after the company's preliminary accounting, it is expected that in the first quarter of 2024, the company can achieve a year-on-year increase in net profit attributable to shareholders of listed companies of no less than 25%. This performance growth is significantly better than the 1166%, which is also the company's highest performance growth in the same period since 2019.
Pien Tze Huang revealed his higher performance hole cards to the market early, or for the purpose of stabilizing market sentiment. After the announcement, Pien Tze Huang opened the fall limit after the market opened at noon, **916%, and the full-day turnover increased to 139.4 billion yuan, three times that of the previous trading day.
The myth of "performance growth of traditional Chinese medicine Moutai" has been broken.
Pien Tze Huang's latest market capitalization is 120.3 billion yuan, ranking fifth in the A-share CITIC pharmaceutical sector, and it is also one of the most heavily offered pharmaceutical companies.
Pien Tze Huang has always had the title of "Chinese medicine Moutai", as the name suggests, it is Moutai in the traditional Chinese medicine industry, its products are very expensive, a product can reach more than 1,000 yuan, such an expensive product has even been difficult to find, and it is sought after by the market.
In 2021, Pien Tze Huang ushered in the highest moment in history, and the company's revenue that year reached 802.2 billion yuan, a year-on-year increase of 232%, achieving a net profit of 243.1 billion yuan, a year-on-year increase of 4546%, the company has maintained a performance growth rate of more than 20% for 5 consecutive years.
With the rapid growth of performance, all kinds of investors have poured in, and the company's stock price has also risen. Pien Tze Huang's share price was speculated to an all-time high of 490 in July 202167 yuan shares, with a market value of 296.6 billion yuan.
However, the rapid growth of Pien Tze Huang's performance and the stock price** did not last long. Pien Tze Huang's products have dived, and the performance growth in 2022 will stall, and the performance will decline year-on-year for two consecutive quarters in the second half of the year. The company's share price has also ushered in a market hit since 2022, with **3377%。In 2023, although the company has raised the price of its leading products significantly, the company's stock price will also rise immediately after the price increase, but it will soon enter the **channel, and the company's stock price will be **15 in 202374%。
Entering 2024, the A**field continued**, and after Pien Tze Huang announced its 2023 performance report, the company's stock price fell to 17 during the year6%。
At a time when the stock price is under pressure, Pien Tze Huang is also actively taking various actions. Pien Tze Huang said that the company will continue to pay attention to and advance the layout of major large varieties or important medicinal materials market**, and in-depth and systematic development of Pien Tze Huang and dominant varieties in the direction of liver disease, tumor, inflammation, antivirus, etc., in addition, Pien Tze Huang is also actively promoting the listing of its holding subsidiary Pien Tze Huang cosmetics, and is promoting the shareholding reform process.
Pharmaceutical biology has been promoted to the first heavy position industry in public offering.
The pharmaceutical and biological sector is known as a track with long slopes and thick snow. However, in recent years, the performance and stock prices of pharmaceutical and biological companies have been adjusted, and they are still generally under pressure this year.
According to the data of the 2023 quarterly report disclosed by the public offering**, Pien Tze Huang was *** in the fourth quarter of last year, and the number of shares held by the public offering heavy positions decreased by 4.59 million shares compared with the end of the third quarter.
In addition to Pien Tze Huang, WuXi AppTec, Aier Ophthalmology, Changchun High-tech, Tongrentang and other companies have all been reduced to varying degrees. Mindray Medical, Hengrui Pharmaceutical, Zhifei Biotechnology and other companies have been subject to increased positions.
However, on the whole, the public offering ** is still increasing its position in the pharmaceutical and biological sector, and the industry once again became the number one heavy industry in the public offering at the end of last year.
The Industrial Securities Strategy Research Report pointed out that in the case of active stock-biased ** contrarian positions, pharmaceutical and biological ** increased by 152 percentage points to 1459%, newly promoted to become the largest public offering industry, in fact, this is the public offering ** continuous improvement **, at the end of the third quarter of last year, the pharmaceutical and biological ** has increased by 1 quarter-on-quarter05 percentage points.
Zhao Bei, manager of ICBC Frontier Medical, made Pien Tze Huang in the fourth quarter of last year, and increased the allocation to innovative drug companies with strong R&D strength and potential for products to go overseas. In addition to innovative drugs, the allocation ratio of other companies in the traditional Chinese medicine sector is maintained above the benchmark. Zhao Bei believes that favorable policies such as the adjustment of the basic drug catalog in 2024 need to be implemented. Some companies have a "transient" impact of a high base of performance at the end of 2023 and the first quarter of 2024, but there are still large investment opportunities for traditional Chinese medicine companies that have indeed improved their management in the past few years and can survive the epidemic cycle and grow steadily for a long time.
Editor-in-charge: Tao Jiyan |Review: Li Zhen |Supervisor: Wan Junwei.
*: Brokerage China).