China Fund News Jiang Right
This morning, the overall downturn in the A-share market, but there are not many stocks that have fallen and fallen more than 10%, but a pharmaceutical stock with a market value of more than 10 billion yuan has suddenly plummeted, and it has plunged 11% at the opening.
This pharmaceutical stock is Jincheng Pharmaceutical, and the reason for the plunge is believed to be related to the company's reply to the exchange's letter of concern. The Company stated that it did not have any business dealings with Pfizer; the Company also issued a guarantee announcement for its subsidiaries.
An announcement
Clarification of no business dealings with Pfizer
Market speculation that Jincheng Pharmaceutical is related to Pfizer's new crown oral drug has been clarified. This morning, Jincheng Pharmaceutical announced that the company has not had any business dealings with Pfizer, has not signed a cooperation agreement with Pfizer, and has not supplied intermediate products to Pfizer.
As soon as the news came out, Jincheng Pharmaceutical's stock price plummeted by 11% at the opening, and then recovered, closing down 7.48% in the morning at 30.69 yuan, with a market value of 11.9 billion yuan.
Jincheng Pharmaceutical said that the company's production of (S)-2-tert-butoxycarbonylamino-3-[(S)-2-oxo-3-pyrrolidinyl]methyl propionate) products belong to pharmaceutical chemical products, can be used for the production of a variety of antiviral drugs such as human rhinovirus, the market has a number of production enterprises, full market competition, non-company exclusive production, currently only to provide customers with 1kg of samples, did not confirm sales revenue, to the majority of investors rational investment, pay attention to investment risks.
Recently, many remarks in the market have regarded Jincheng Pharmaceutical as a concept stock of Pfizer's new crown special drug.
Performance turned profit
The fund maintains a lot of positions
According to the performance forecast of Jincheng Pharmaceutical, it has achieved a turnaround in 2021. With a loss of 489 million yuan in 2020, it is expected to make a profit of 140 million to 170 million yuan in 2021.
Regarding the change in performance, Citigold Pharmaceutical said:
1. During the reporting period, the net profit attributable to the shareholders of the listed company turned into a profit compared with the same period of the previous year, mainly because the performance of the previous year was affected by the impairment provision for goodwill and caused the loss.
2. During the reporting period, the company achieved a net profit attributable to the shareholders of the listed company of 140 million to 170 million yuan, regardless of the impact of goodwill impairment, which decreased by 32.78%-44.64% year-on-year, mainly due to the increase in the price of raw materials for the company's pharmaceutical intermediates products, and at the same time affected by the intensification of market competition and foreign epidemics, the sales volume and price of some products decreased year-on-year, resulting in a decrease in profits.
3. The impact of non-recurring gains and losses on net profit during the reporting period was between RMB25 million and RMB35 million.
Judging from the four quarterly reports of the fund that have been announced and the three quarterly reports of Jincheng Pharmaceutical last year, many funds and societies still maintain their positions in this stock. According to the heavy position data of institutions at the end of the fourth quarter, GF steadily reported 9.54 million shares, and GF Ruiyang held 1 million shares in three years. Among the top ten circulating shareholders at the end of the third quarter of last year, the funds of the Guangfa Department, social security, insurance and Zhonggeng's funds have all increased their positions.
EDIT: Captain