Financial reporter Xu Yaowen.
Entering 2024, Remegen Biotech (688331sh，9995.HK) wave after wave.
The first is performance, Remegen is still not profitable in 2023.
On January 31, Remegen released its 2023 annual performance forecast, which is expected to "increase revenue but not profit". The company expects to achieve operating income of about 108 billion yuan, a year-on-year increase of 40%; The net loss attributable to the parent is expected to be about 155 billion yuan, compared with the same period last year, it will increase the loss by about 55.2 billion yuan, a year-on-year loss increase of about 55%.
It is worth noting that this is also the first time that Remegen has lost more than 1 billion yuan since 2018.
Since December 2023, Remegen's share price in A-shares has been higher than 70 yuan and below 40 yuan shares. On January 31, after the release of the performance forecast, the share price of Remegen fell below 40 yuan shares, and the lowest fell to 3829 yuan shares, a new low in the past year.
Remegen Biotech has been trading in the past 2 months, and its stock price has hit a new low in the past year.
In fact, the loss of pharmaceutical and biological companies listed on the Science and Technology Innovation Board is not a serious or risky thing, but here in Rongchang Biotechnology, there is a big question mark.
Because in addition to not making money, Remegen is also "short of money". It is said that the future of pharmaceutical and biological enterprises is burned by burning money, and Remegen Biotechnology may "not be able to burn".
On January 17, comments appeared on the web about the company's tight cash flow. As soon as the rumors came out, the board couldn't sit still. An announcement was issued after the same day, saying that the rumors on the Internet about the company's cash flow shortage were untrue and extremely misleading.
On January 16th and 17th, Remegen Biotech announced two consecutive records of investor relations activities. According to the announcement, investors asked about the company's cash flow in both records, and Remegen gave a positive answer. In fact, Remegen's financial report has long told the truth. Judging from the company's financing situation and performance, it is not very convincing.
Remegen Biotech is the first "A+H" listed pharmaceutical and biological enterprise in Shandong. In 2020, the company was listed on the Hong Kong stock market, raising about 5US$900 million; In 2022, it will land on the Science and Technology Innovation Board and get 25100 million yuan in financing.
However, since 2020, except for the company's profit in 2021, it has been losing money for the remaining three years, with a total loss of more than 3 billion yuan, which is equivalent to losing the financing of the IPO of the Science and Technology Innovation Board.
Data from straight flush ifind
Although Remegen said that R&D investment remains at a high level, the "gold content" of intangible assets is not high. Land use rights account for the majority, and the patented technology is less than 20 million yuan.
Data from straight flush ifind
At present, the company still has a number of products in the key experimental research stage, which means that the company's cash flow is still depleted at a high speed.
How long can Remegen's financial situation be supported? There's a big question mark, too.
The views in this article are for reference only and do not constitute investment advice. ）