Recently, Shengxiang Biotechnology Co., Ltd. (stock abbreviation: Shengxiang Biotechnology; stock code: 688289. SH) disclosed the performance forecast for the first quarter of 2024, which is expected to achieve a net profit attributable to the parent company of 81.4891 million yuan, a year-on-year increase of 35.79%, and a net profit attributable to the parent company of 74.3356 million yuan after deducting non-profits, a year-on-year increase of 1978.27%.
Shengxiang Biotechnology said that the company has gradually entered a period of development in multiple tracks and fields, and endogenous drive and epitaxial growth go hand in hand. At the same time, the company actively promotes the breadth and depth of product coverage, and provides more solutions for hospitals, disease control, communities, Internet and other scenarios, effectively achieving collaborative business growth.
Source: Photo.com
Shengxiang Biotechnology expects that the net profit attributable to the parent company after deducting non-profits in the first quarter will increase by nearly 20 times
On April 13, Shengxiang Biotech released its performance forecast for the first quarter of 2024. In the first quarter of 2024, Shengxiang Biotech is expected to achieve an operating income of 390.9458 million yuan, an increase of 195.7718 million yuan compared with the operating income of 195.174 million yuan in the first quarter of 2023, a year-on-year increase of 100.31%, and a net profit attributable to the parent company of 81.4891 million yuan, an increase of 21.4762 million yuan or 35.79% compared with the net profit attributable to the parent company of 60.0129 million yuan in the first quarter of 2023; It is estimated that the net profit attributable to the parent company after deducting non-profits will be 74.3356 million yuan, an increase of 70.7588 million yuan compared with the net profit attributable to the parent company of 3.5768 million yuan after deducting non-profits in the first quarter of 2023, a year-on-year increase of 1978.27%.
Shengxiang Biotech said that in the context of the country's efforts to promote the high-quality development of the life and health industry, the company has gradually entered a period of development in multiple tracks and fields by virtue of its early forward-looking strategic planning and investment layout, and endogenous drive and extension growth go hand in hand, showing strong growth potential.
At the same time, the company actively captures and takes advantage of market opportunities, promotes the breadth and depth of product coverage, provides more solutions for hospitals, disease control, communities, Internet and other scenarios, further improves product performance, optimizes customer experience, effectively realizes the synergistic growth of business, continuously improves the company's brand influence, and lays a solid foundation for sustainable development in the future.
According to the announcement, with independent innovation gene technology as the core, Shengxiang Biology has developed more than 1,000 kinds of products covering different groups of people in the whole life cycle, such as infectious disease prevention and control, maternal and child health, blood safety, cancer prevention and control, and companion diagnosis, and can provide more than 2,200 testing services, forming an overall solution for the whole industry chain system integrating reagents, instruments, sequencing services, third-party medical testing services, and molecular laboratory co-construction, so as to promote the universalization and full-scenario application of gene technology. At the same time, Shengxiang Biotech focuses on the needs of the in vitro diagnostic industry and deeply creates an integrated business model of "instrument + reagent + service".
According to the 2023 performance express report released by Shengxiang Biology, in the first three quarters of 2023, Shengxiang Biology achieved an operating income of 632.5434 million yuan, and in the fourth quarter of 2023, Shengxiang Biology achieved an operating income of 373.9241 million yuan, an increase of 82.54% from the previous quarter. In 2023, Shengxiang Biotech's conventional reagent sales revenue will reach 784 million yuan, a year-on-year increase of more than 150%. Among them, the operating income of respiratory products exceeded 400 million yuan, a year-on-year increase of 680%, and further breakthroughs were made in HPV, blood screening, sequencing and other fields.
According to Shengxiang Bio's official WeChat, respiratory products are still one of the key products supporting its performance growth in the first quarter of 2024. Shengxiang Bio's official Weibo said that since 2024, the high growth of its respiratory product business has continued, mainly driven by the continuous growth of demand for outpatient, emergency precision diagnosis and treatment and "Internet + medical" home self-examination. Recently, Shengxiang Biotech has further launched the DiseaseXSolution respiratory tract solution, aiming to meet the challenges of "Disease X" in the future through simple, efficient and intelligent prevention and control methods.
Regular business resumed, and breakthroughs were made in many fields
Shengxiang Biological Official Weibo once said that respiratory diseases are one of the types of diseases with the largest number of infections and the widest spread in the world. In recent years, molecular diagnostic solutions have been able to accurately diagnose pathogens and effectively avoid drug abuse, and related products are entering a period of accelerated market popularization.
In the field of respiratory diseases, Shengxiang Biotech has built a matrix layout covering more than 60 kinds of products, which can provide a variety of combination solutions such as single detection, multiple testing, immune antigen, drug resistance gene screening, rapid drug sensitivity, and pathogen next-generation sequencing.
In addition to the field of respiratory diseases, Shengxiang Biotech also has a wide range of other disease detection fields and has achieved positive results. According to the official WeChat account of Shengxiang Biology, in the field of maternal and child health, the HPV detection products developed by Shengxiang Biology won the bid for the centralized procurement of in vitro diagnostic reagents in 25 provinces, and in the field of bloodborne infectious disease detection, Shengxiang Biology's hepatitis B and hepatitis C detection products continue to rank first in the number of laboratory users in the national interlaboratory quality evaluation activities in 2023. In addition, Shengxiang Biotech has also recently released a fully automatic assembly line and overall solution in the field of blood screening, which is accurate and efficient without manual operation to avoid cross-infection and ensure the safety of medical staff.
According to the announcement, since 2023, a number of Shengxiang Bio's products have obtained the "Medical Device Registration Certificate". For example, in January 2024, Shengxiang Biotech's product coxsackievirus A6/A10 nucleic acid detection kit (PCR-fluorescent probe method) received the "Medical Device Registration Certificate" issued by the State Medical Products Administration (hereinafter referred to as the State Food and Drug Administration).
Shengxiang Biology said that the coxsackievirus A6/A10 nucleic acid detection kit (PCR-fluorescent probe method) is the fifth kit that the company has obtained a medical device registration certificate in the field of hand, foot and mouth disease diagnosis, which can detect and distinguish two different serotypes of coxsackievirus A6/A10 in one tube, and the sensitivity of the product is 200copies/mL, which is one of the most sensitive products in the market.
In November 2023, Shengxiang Biotech's product group B streptococcus nucleic acid detection kit (PCR-fluorescent probe method) received the "Medical Device Registration Certificate" issued by the State Food and Drug Administration. Shengxiang Biotech said that the product is another star product of the "boutique project" in the field of maternal and child health of Shengxiang Biotech, and is one of the most sensitive products of its kind on the market.
While making efforts in multiple business fields in China, Shengxiang Biotech is also rapidly promoting overseas market development. For example, in the Asian market, in January 2024, Dai Lizhong, chairman of Shengxiang Biotech, was invited to attend the Indonesia-China Healthcare and Biotechnology Investment Forum and signed a relevant strategic cooperation. Shengxiang Biotech will further participate in national projects in Indonesia, including the prevention and control of major infectious diseases, early cancer screening, and maternal and child health protection. According to the official WeChat account of Shengxiang Biology, in 2023, Shengxiang Biology will achieve localized production in Indonesia.
In the African market, at the end of 2023, Shengxiang Bio's HIV nucleic acid quantitative detection reagent program passed the evaluation of the Uganda Central Public Health Laboratory, and Shengxiang Biotech became the first Chinese company to obtain the WHO-PQ laboratory clinical recommendation report for this type of product. According to the official WeChat account of Shengxiang Biology, Africa is one of the main cooperation areas of Shengxiang Biology, and Shengxiang Biology has trade contacts and cooperation with nearly 50 countries and regions such as Ghana, Gabon, Togo, Benin, and Ethiopia.
In addition, in November 2023, Shengxiang Biotech announced that its fully automatic chemiluminescence immunoassay analyzer has obtained the EU CE IVDR certification. Shengxiang Biotechnology said that this is an important achievement of the company's immunization strategy and internationalization strategy, and has built a relatively complete chemiluminescence product matrix for the international market, which has become another milestone and landmark breakthrough in the development of the company's immunization strategy. The above-mentioned products have obtained the EU CE IVDR certification, indicating that the performance of the company's chemiluminescence products has reached the international mainstream level, laying a good foundation for the company to open up the international immunodiagnostic market, and accelerating the company's transformation from a leading enterprise in molecular diagnostics to a diversified platform enterprise in the field of in vitro diagnostics.
In September 2023, Shengxiang Biotech announced that 60 products, including the company's procalcitonin (PCT) detection kit (chemiluminescence method), have obtained EU CE certification, covering myocardial markers, inflammation, tumor markers, thyroid function, sex hormones, glucose metabolism, growth and development, etc., which is an important achievement of the company in the field of immunodiagnosis and international strategic layout.
Huaan Securities released a research report saying that in the past few years, molecular diagnostic technology has achieved rapid popularization across the country, and the number of PCR laboratories has increased significantly, providing an opportunity for routine molecular testing projects. Shengxiang Biotech has been deeply engaged in the field of molecular diagnosis in China for many years, and has a strong competitive advantage in overall solution design and product performance. With the resumption of the company's regular business, the overall is expected to enter a stage of rapid growth.