On the evening of July 21st,Norwegian(688105) released the 2022 semi-annual performance forecast. It is expected that the company will achieve operating income of 1.6 billion to 1.65 billion yuan in the first half of the year, a year-on-year increase of 93.81% to 99.86%; net profit of 600 million yuan to 630 million yuan, a year-on-year increase of 53.12% to 60.77 %; deducted non-net profit of RMB 560 million to RMB 590 million.
New crown detection product revenue soars
NorwegianIt is one of the main suppliers of core enzyme raw materials for new crown nucleic acid detection in China.first halfNorwegianThe substantial increase in revenue was mainly attributable to the increase in revenue from COVID-19 testing-related products.
On March 12 this year, the State Food and Drug Administration issued a notice approving the application changes for the self-testing application of 5 new coronavirus antigen products.Since then, five new crown antigen self-test products have been officially launched, includingNorwegian、Wanfu Bioand other products of A-share companies.
In March this year, following the outbreak of the epidemic in Shanghai, Jilin and other places, Shanghai distributed a large number of antigen testing products to citizens.NorwegianThe antigen detection kit is also included.
In today’s results announcement,NorwegianSaid that in the first half of 2022, the company actively responded to the adverse impact of the new crown epidemic, while maintaining the increase in sales of advantageous products and services, and further realizing the sales transformation of products and services in growth business areas. The company’s regular business maintained steady growth as a whole.
NorwegianIt said that in the first half of the year, the domestic demand for new crown detection-related biological reagents and terminal detection reagents increased significantly compared with the same period last year, and the company’s self-developed new coronavirus antigen detection kits and related biological reagents. Growth in operating income and net profit.
In the investment activities in June this year,NorwegianIntroduced the status of business related to the new crown.
NorwegianIt is said that on the one hand, the domestic epidemic situation is still repeated, and on the other hand, in line with the national policy guidance for the normalization of new crown nucleic acid detection, the demand for new crown nucleic acid detection terminals is still relatively continuous, and the company’s new crown nucleic acid detection enzyme raw material sales are relatively stable compared to the same period in 2021.
The company also stated that with the control of the new crown epidemic in Shanghai, Jilin and other regions, the demand for new crown antigen detection reagents has declined. The overall impact of the new crown-related business on the company’s performance this year also needs to be comprehensively considered in combination with the relationship between volume and price, subsequent changes in the epidemic situation, testing policy guidelines, market competition, and many other factors. There is great uncertainty in the sales and sustainability of the company’s related products.
Growth slowed in the second quarter
removeNorwegianIn addition, other companies related to COVID-19 testing products generally achieved rapid growth in the first half of this year.byMatilda BioFor example, the performance forecast announced on July 15 shows that in the first half of the year, the company achieved a net profit of 2.4 billion to 2.75 billion yuan attributable to shareholders of listed companies, a year-on-year increase of 314.11% to 374.5%.
Matilda BioSaid that in 2022, the outbreak of Omicron in many places at home and abroad, the comprehensive group of the joint prevention and control mechanism of the new crown epidemic of the State Council decided to add antigen testing as a supplement on the basis of nucleic acid testing, and most major cities in the country implement normalized nucleic acid testing. Policies to control the spread of the epidemic have greatly increased the demand for new crown detection products at home and abroad.
Matilda BioThe new crown antigen detection reagents of the company have become important anti-epidemic materials in Shanghai, Jilin and other outbreak areas, and the export of overseas antigen detection reagents has also achieved substantial year-on-year growth, driving the company’s rapid growth in performance.
However, since the second quarter, the revenue growth of some new crown testing-related companies has slowed down.
nowNorwegianIn the first quarter of this year, the revenue was 975 million yuan, a year-on-year increase of 80%. Realized non-net profit of 412 million yuan, a year-on-year increase of 25.79%. Combining the first quarter report, it is not difficult to find that its revenue growth in the second quarter has slowed down significantly.
YahuilongIn the first half of this year, the operating income was 2.337 billion yuan, a year-on-year increase of 326.5%; the deducted non-net profit was 610 million yuan, a year-on-year increase of 326.5%. Among them, the new crown business achieved a turnover of 1.82 billion yuan, a year-on-year increase of 3046.6%. The main reason is that the company’s new coronavirus antigen detection kits have successively obtained relevant access certifications at home and abroad and obtained multiple orders, which is caused by the sharp increase in the sales of this product.
However, the company’s previously released quarterly report showed that the company’s revenue in the first quarter of this year was 1.37 billion yuan, a year-on-year increase of 481.6%; non-net profit following deduction was 510 million yuan, a year-on-year increase of 1366%. This means that its revenue growth in the second quarter has slowed down compared with the first quarter, and the profit growth rate has also dropped significantly.
On the one hand, since late March, the number of domestically approved antigen detection reagent products has been increasing. According to data from the State Food and Drug Administration, by the end of April, 31 new coronavirus antigen detection reagent products had been approved.
As market competition continues to increase, the terminal sales prices of related testing products have also dropped significantly from the beginning of the market. A reporter from Securities Times · e company learned that in early March this year, when antigen detection reagents were first listed in pharmacies, the retail price of a single copy generally reached 19 yuan or even more than 20 yuan. At present, the retail price of a single copy in pharmacies and other terminals is less than 10 yuan.
Centrally purchased antigen testing products are cheaper. In May of this year, among the emergency procurement results of epidemic prevention and control materials announced in some regions, the quotations of new crown antigen detection kits from some manufacturers have been as low as 2.8 yuan per person. This means that the profits of related companies will also be squeezed.
