Hualan vaccine starts application: it is expected to raise 2.2 billion yuan in net capital, which is supported by influenza vaccine

2022-08-06 0 By

Recently, Hualan Biological Vaccine Co., LTD. (hereinafter referred to as “Hualan Vaccine”) disclosed the announcement shows that the company will start online subscription on February 8, 2022, the offering price is 56.88 yuan/share, the proposed initial public offering of 400,0010 million shares, the offering price is 56.88 yuan/share,It is estimated that the net fund raised will be about 2.244 billion yuan.According to beiduo Finance, the parent company of Hualan Vaccine is A listed company of Hualan Biology (SZ:002007).In the equity structure before the listing, Hualan Biological holding 75% of hualan Vaccine, as the controlling shareholder of the company, ankang as the actual controller.Hualan bio said that its main business mainly involves blood products and vaccine products, of which the vaccine products business is operated by the holding subsidiary Hualan Vaccine.After the spin-off and listing, Hualan Biological and Hualan Vaccine will focus on blood products and vaccine products respectively, with a clearer main business structure, which will help them respond to the market environment more quickly and reduce the negative impact of diversification.At the same time, Hualan vaccine will take this opportunity to directly connect with the capital market, give full play to the functions and advantages of the direct financing of the capital market, broaden financing channels, improve financing flexibility, improve financing efficiency, so as to effectively reduce the cost of capital and provide sufficient funds for the development of Hualan vaccine.Hualan vaccines’ main business is the research and development, production and sales of vaccines for human use, according to the report.During the reporting period, its main products included influenza virus lysis vaccine, tetravalent influenza virus lysis vaccine, influenza A H1N1 virus lysis vaccine, ACYW135 meningococcal polysaccharide vaccine and recombinant hepatitis B vaccine (Hansen’s yeast), etc.There are nearly 30 patent applications for Hualan vaccine, of which 12 are valid, according to Zhyanda data.In terms of patent types, about 90% of the company’s patents are for invention.According to the analysis, the company’s current patent layout is mainly focused on the combination of vaccines, immunogenicity, expression systems and biotechnology related expertise.In terms of finance, Hualan vaccine achieved revenue of 803 million YUAN, 1.049 billion yuan and 2.426 billion yuan in 2018, 2019 and 2020, respectively, with a compound growth rate of 73.86%.Net profit was 270 million yuan, 375 million yuan and 925 million yuan respectively, showing good profitability.Huaran said in its prospectus that both revenue and net profit showed rapid growth, mainly due to the launch of the quadrivalent influenza virus lysis vaccine.Since its establishment, the company has been focusing on the research and development of vaccines and the improvement of production technology, especially in the field of influenza vaccine, the company’s research and development, technical advantages in the leading position in China.In 2018-2020, hualan’s revenue mainly came from the production and sales of influenza vaccine, ACYW135 meningococcal polysaccharide vaccine and recombinant hepatitis B vaccine (Hanson’s yeast);Among them, the sales revenue of influenza vaccine accounted for 86.87%, 99.42% and 99.81% of the operating revenue respectively, accounting for a relatively high and increasing trend year by year.In 2018, Hualan vaccine’s tetravalent influenza virus splitting vaccine was exclusively launched in China. The revenue of tetravalent influenza virus splitting vaccine accounted for 74.73% of the operating revenue in that year, 92.59% in 2019 and 96.68% in 2020, respectively, with sales revenue increasing by 371 million yuan and 1.375 billion yuan respectively.In 2018-2020, the sales volume of Hualan vaccine influenza vaccine was 8.583 million doses/vial, 10.639 million doses/vial and 21.748 million doses/vial, respectively, with a compound growth rate of 59.2%.From 2018 to 2020, Hualan vaccine accounted for 52.8 percent of the market for influenza vaccines, 42 percent and 40 percent, respectively, according to the Biologics Batch Issuance Information platform under the China National Institute for Food and Drug Control.In the same period, the number of batches issued of Hualan vaccine tetravalent split influenza virus vaccine was 5.122 million, 8.361 million and 20.624 million, respectively.However, its market share dropped from 100.00% in 2018 to 86.10% in 2019 and further to 61.41% in 2020.From January to September 2021 (the first three quarters), hualan vaccine’s revenue was 1.393 billion yuan, an increase of 25.71% compared with 1.108 billion yuan in the same period of 2020.Net profit was 528 million yuan, up 28.27% from 412 million yuan in the same period in 2020.According to reports, hualan vaccine’s income is seasonal, mainly concentrated in the third and fourth quarters of each year.In January-June 2020 and January-June 2021, hualan vaccine’s operating revenue was -3,728,900 yuan and 10,905,800 yuan, and its net profit attributable to the owner of the parent company was -26.3790 million yuan and -290 million yuan, respectively.Hualan vaccine said its operating revenue and net profit for the january-September 2021 were almost all from the third quarter.Data show that in the third quarter of 2021, hualan vaccine’s operating revenue was 1.382 billion yuan, up 24.30% year on year;Net profit of 557 million yuan, up 27.16% year on year;Net profit after deduction was 551 million yuan, up 29.02% year on year.Hualan vaccine believes that this is mainly from the company’s quadrivalent influenza virus lysis vaccine sales growth.For 2021 as a whole, Huaran vaccine is expected to generate revenue of 1.941 billion yuan to 2.669 billion Yuan in 2021, with a year-on-year change of -20% to 10%;The parent net profit is expected to be 740 million yuan to 1.017 billion yuan, a year-on-year change of -20%-10%;Non-deduction net profit is expected to be 710 million yuan to 980 million yuan, a year-on-year change of -21% to 9%.