Text丨Undertaking
Editor丨Li Zhuang
Among the 569 companies on the Science and Technology Innovation Board, a total of 530 companies have disclosed performance forecasts or express reports, of which more than 42% are expected to be happy.
As of February 27, 462 of the 569 companies on the Science and Technology Innovation Board have released their 2023 performance reports, of which more than 40% of the companies have achieved a year-on-year increase in net profit attributable to the parent company, and more than 60% of the total revenue has increased year-on-year. Before the release of the performance report, 311 companies on the Science and Technology Innovation Board released their 2023 performance forecasts. Combined with the non-overlapping parts of the two, there are currently only 39 companies on the STAR Market that have not yet disclosed their 2023 performance.
462 companies disclosed their 2023 performance reports
More than 40% of the company's revenue and performance have increased
According to the data of Oriental Wealth Choice, as of February 27, 462 of the 569 listed companies on the Science and Technology Innovation Board have disclosed their 2023 performance reports, of which 292 companies have achieved a year-on-year increase in total operating income, accounting for 632%；The net profit attributable to the parent company increased year-on-year to 196, accounting for 4242%。
Among the companies that achieved a year-on-year increase in total operating income, there were 8 companies with a year-on-year increase of more than 100%, among which Yahong Pharmaceutical-U revenue increased the most year-on-year, reaching 52,59464%；It was followed by Mabwell-U and Zhongzi Technology, with a year-on-year increase of 36049% and 24514%。In addition, the total operating income of five companies, including Tianyue Advanced and First Pharma Holdings-U, has also more than doubled.
Among the companies that have achieved net profit growth attributable to the parent company, there are 25 companies that have achieved a year-on-year increase of more than 100%, among which the performance of Zhongke Feizhi-U has the largest year-on-year increase, reaching 109026%。It is followed by 8 companies such as Sunshine Guojian, Chipscreen Biotechnology, and Allist, with a year-on-year increase of more than 200%. Among the companies with declining performance, there are 71 companies with a decline of more than 100%, of which 5 companies, including Yutai Micro-U, Foxit Software, and Qinchuan IoT, have declined by more than 1000%.
Overall, among the companies that have disclosed their 2023 performance reports, the number of companies that can achieve a year-on-year increase in total operating income and net profit attributable to the parent company at the same time has reached 189, accounting for 40 of the 462 companies that have disclosed the express report91%。Among them, there are 15 companies whose revenue and performance can reach more than 50% year-on-year, namely Zhongke Feice-U, Allist, Baike Biotechnology, etc., and among them, Baike Biotechnology, Witten Electric, Otway, Jingsheng Shares, Aohua Endoscopy, Gaoce Shares, and Xiangyu Medical have also been investigated by many institutions this year.
According to the 2023 performance forecast released by Baike Biotech on January 16, it is expected that the net profit attributable to shareholders of listed companies in 2023 will be 470 million yuan to 530 million yuan, which is expected to increase by 28846 compared with the same period last year (statutory disclosure data).330,000 yuan to 34,846330,000 yuan, an increase of 158 year-on-year90% to 19195%。Or due to the performance exceeding expectations, the company accepted the investigation from a number of institutions such as Industrial **, China Universal Wealth**, Pengyang**, and Industrial Securities Global ** on January 23, February 2 and February 6, respectively, which mainly involved the company's main business situation and the research and development of recombinant herpes zoster disease.
On February 24, Baike Biotech disclosed the latest performance report, and during the reporting period, the company's total operating income was 182468880,000 yuan, 107144 in the same period last year600,000 yuan, a year-on-year increase of 7030%；Net profit attributable to owners of the parent company 50100920,000 yuan, 18,153 in the same period last year670,000 yuan, a year-on-year increase of 17598%；Net profit attributable to owners of the parent company after deducting non-recurring gains and losses was 49,335830,000 yuan, 16,675 in the same period last year400,000 yuan, a year-on-year increase of 19586%。
In the announcement of the performance express, Baike Biotech said that during the reporting period, the main factors affecting the company's operating performance were: Affected by factors such as the decline in the birth rate of newborns in China, the domestic sales of live attenuated chickenpox vaccine declined, and the company actively promoted export work, and export sales increased; The sales volume of freeze-dried nasal spray live attenuated influenza vaccine was basically the same as that of the previous year; The company obtained the "Drug Registration Certificate" for live attenuated herpes zoster vaccine in early 2023 and the "Batch Release Certificate of Biological Products" in April 2023, and successively achieved sales, enriching the company's vaccine types and increasing the company's overall revenue scale and net profit year-on-year.
68 companies that issued earnings forecasts did not disclose express reports
Pharmaceutical, biological, and semiconductor companies are still in the spotlight
It is worth mentioning that before the release of the performance report, 311 companies on the Science and Technology Innovation Board released their 2023 performance forecasts in advance, of which 122 companies were happy, accounting for 3923%, which is lower than the year-on-year growth of express performance. At present, 68 of the 311 companies that have disclosed performance forecasts have not yet announced their performance data, of which 30 companies are expected to achieve year-on-year growth in their performance, and 12 companies have the largest increase in net profit attributable to the parent company of more than 100%, and the profits of Zhongwang Software, Arctech, Huaguang New Materials, and Microconductive Nano have increased by more than 400% year-on-year.
As for the expected high growth of its own performance, ZWSOFT explained it in the performance forecast as a significant improvement in the efficiency stability and functional richness of the product, and the excellent product quality was recognized by customers, which had a direct driving effect on the performance growth. Arctech attributed this to the strong demand for new installed capacity in the global photovoltaic centralized ground power station market; Huaguang New Materials explained that on the basis of consolidating the original fields such as refrigeration and HVAC, power and electrical, it will actively expand new tracks such as electronics and new energy vehicles, and the operating income of the new track will increase significantly in 2023, of which the electronics field will increase by nearly 70% year-on-year, and the new energy vehicle field will increase by nearly 40% year-on-year; Microconductive nano is explained by the expansion of the market scale of the downstream photovoltaic and semiconductor industries, so that the company's business shows a good development trend.
It should be mentioned that although these 68 companies did not disclose the latest performance reports, they were paid quite high attention by institutions, and 17 companies were surveyed by institutions during the year, accounting for 25%. Among them, SWS in the medical device industry and Loongson Zhongke in the semiconductor industry have been investigated 5 times. In addition, there are also EFORT-U, Zhenhua Scenery, Zhuhai Guanyu, and Bangyan Technology that have been investigated by institutions for 2 or more times. Judging from the research data of institutions, pharmaceutical biology, semiconductors, and power equipment have received the most attention.
For the pharmaceutical and biological industry, Donghai ** said in the latest research report that the overall valuation of the current pharmaceutical and biological sector is at a historical low, and the investment value is significant. The National Health Insurance Administration recently issued a draft for comments on the formation mechanism of the first release of newly listed chemical drugs, and the pricing of new drugs has ushered in a new market-oriented model, and innovative drugs and devices are expected to benefit.
For the semiconductor industry, Haitong ** said in the latest research report that excellent companies on the semiconductor equipment side are expected to face structural growth opportunities throughout 2024E, including advanced process Foundry Logic, NAND, DRAM HBM and other fields, demand continues to grow, and excellent semiconductor equipment companies in Chinese mainland will also benefit from the explosion of demand for semiconductor equipment in the corresponding fields.
For the power equipment industry, Huajin ** said that it is optimistic about the opportunities for China's power equipment to go overseas driven by multiple factors such as global energy transition, power grid upgrading and manufacturing expansion, and based on the comprehensive capacity of China's manufacturing industry and the blessing of the "Belt and Road" initiative, it is expected to replicate the overseas growth path of photovoltaic and energy storage.
Among companies with declining performance
More than 40% of the single-quarter performance improved
Judging from the foregoing, nearly sixty percent of the 2023 annual performance of the science and technology innovation board companies has declined, but if you further observe the changes in the single-quarter performance of the companies that have disclosed the performance express report in the fourth quarter, it can still be found that among these companies with year-on-year declines, many companies have significantly improved their single-quarter performance in the fourth quarter of 2023.
According to the data of Oriental Wealth Choice, among the 266 companies on the Science and Technology Innovation Board whose performance declined year-on-year in 2023, 119 companies achieved a quarter-on-quarter increase in net profit attributable to the parent company in the fourth quarter of 2023, accounting for 4474%。Among them, there are 64 companies with a month-on-month growth of more than 100%, 20 companies with a month-on-month increase of more than 500%, and 8 companies with a month-on-month increase of more than 1000%, namely Xinyuren, Zhuoran Shares, Ankaiwei, etc. (see attached table).
Take Xinyu people as an example, although it will achieve operating income 658547763 in 202348 yuan, a year-on-year decrease of 163%；The total profit is 6131102359 yuan, down 12 percent year-on-year99%；Net profit attributable to owners of the parent company 6187685656 yuan, a year-on-year decrease of 727%。However, if its revenue and net profit attributable to the parent company in the first three quarters are excluded, its revenue in the fourth quarter reached 28.1 billion yuan, compared to 10.4 billion yuan revenue increased by 170 percent quarter-on-quarter35%；The net profit attributable to the parent company in the fourth quarter was 06.4 billion yuan, an increase of 25,404 compared with its loss in the third quarter03%。
It should also be noted that among these companies with a year-on-year decline in performance, 113 companies have received institutional surveys this year, accounting for 4248%。Among them, there are as many as 24 companies that have been surveyed more than 3 times, and most of these companies belong to the semiconductor industry, such as Yutai Micro-U, Kangxi Communication, Fudan Microelectronics, Liyang Chips, etc. In addition, the further upgrading of the control of advanced semiconductor technology has also warmed up the concept of domestic substitution, and many domestic semiconductor companies have also improved their demand to a certain extent, which has also brought about a revision of performance. As Haitong ** said above, "excellent companies in the semiconductor equipment side are facing structural growth opportunities throughout 2024E." ”
(This article was published in the March 2 issue of Market Weekly.) The ** mentioned in the article is for example analysis only and does not make investment advice. ）