Notai Biologics, which soared 397.75% on the first day of listing, fell all the way after hitting an all-time high of 93.3 yuan on June 1.
As of today's close, Nuotai Bio reported 47.6 yuan, down 1.9%, with a total market value of only about 10 billion yuan.
The decline in the stock price has caused dissatisfaction among investors or because the semi-annual results have not met market expectations
For the performance of Nortec Bio after the listing, many investors have shown puzzlement and dissatisfaction. Some investors asked questions about the company on the Shanghai E interactive platform, "The recent stock price of Nuotai Bio has hit a record low, and the market value has shrunk by half, but throughout the stock price of the CMO/CDMO/CRO company of the same sector has reached a record high, which is in stark contrast with Nuotai, has the management considered and summarized what factors have led to this situation?" ”
Compared with the comparable companies in the same industry mentioned in the prospectus of Nuotai Bio, such as Jiuzhou Pharmaceutical, Kailaiying and Boteng Shares, Nuotai Bio is the only company whose stock price continues to decline.
Since May 20 this year, the overall trend of Jiuzhou Pharmaceutical's stock price has risen, not only on September 15, but also on October 8, it also set a record for the highest share price in the year. The share price of Boteng shares also rose volatilely, reaching a high of 109.77 yuan on August 5 this year. Although the stock price of Gloria Ying fluctuated greatly, the closing price on October 22 was still up 10.57% from the closing price on May 20.
Nuotai Bio explained on the investor interactive platform that the company's stock price fluctuations in the secondary market are affected by various factors such as the company's operating conditions, economic environment, and market sentiment. In view of the many differences in the listing time, revenue scale, business composition, profitability, and investor composition of each company, there are differences in the stock price fluctuations in the secondary market.
The staff of the company's securities department said that it is "more difficult to answer" because it is true that the stock price is also affected by many aspects, and then the company's semi-annual performance may not meet the market's expectations for the market."
Some investors also believe that "the company's growth is high before listing, and the first semi-annual report after listing is low growth", and asks the company to explain. According to the semi-annual report of 2021, the revenue of Nuotai Bio was 309 million yuan, an increase of 42.8% year-on-year, and the net profit attributable to the mother was 51.418 million yuan, an increase of only 6.27% year-on-year.
As for whether the company has a market value management plan, the staff member said, "At present, it is still mainly based on the main business, and CDMO is mainly based on operation and production." ”
R & D personnel only increased by 3 people in half a year The scale of the industry is the smallest
Wanlian Securities Research Report pointed out that CRO is a people-oriented industry, and the exploration, training and retention of talents directly determine the stability of the company's business. For CRO/CDMO companies, the number of R&D personnel is related to the size of the company's business and has an important impact on performance.
Combined with the prospectus and semi-annual report data, from 2018 to 2020, the R&D personnel of Norte Bio were 135, 160 and 167 respectively, with a change rate of about 18.52% and 4.38% respectively. As of the end of June 2021, there were 170 R&D personnel.
From 2018 to 2020, The R&D personnel of Gloria Ying were 1468, 1838 and 2607 respectively, with a change rate of 25.2% and 41.84% respectively. Jiuzhou Pharmaceutical has 365 R&D personnel, 496 and 580 people respectively, with a change rate of 35.89% and 16.94% respectively. The R&D personnel of Boteng Co., Ltd. were 282, 393 and 599 respectively, and the proportion of change was 39.36% and 52.42% respectively.
Whether it is the size of the R&D team or the expansion rate of R&D personnel, Norte Bio is far behind comparable companies in the same industry. In this regard, the staff of the company's securities department believes that "the main core technical personnel of the (company) are stable, and the impact may be relatively small."