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| API speed up! Vitamin companies are mixed |
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| Author：中國銘鉉 企劃部 Release Time：2017-9-8 15:02:16 Number Browse：882 |
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On September 8, the pharmaceutical network, in the year since the beginning of this year, the price of multiple varieties of vitamins has entered into a price increase, driven by environmental verification and market supply constraints. From the recent disclosure of the semi-annual report of the 2017 semi-annual report, it can be seen that the performance of several listed pharmaceutical companies related to the production of vitamin production has increased in the first half of the year, and some enterprises have doubled their growth.
Since February, the ministry of environmental protection has conducted special inspections on air quality in Beijing, tianjin, hebei, shanxi, shandong and henan provinces. Among them, hebei and shandong are the main producing areas of Chinese pharmaceutical and chemical intermediates. With the tightening of domestic environmental verification, many companies with market power and pricing power have been discontinued or restricted, leading to the "rise and rise" rhythm of China's API market. Among them, especially of the family of vitamin, since June, vitamin D3 price from 70 yuan/kg soared to July 3, 425 yuan/kg, since 2017 have risen as high as 456%, prices hit a record high, previous highs set in 2009 of 423 yuan/kg, the European market price is up to 30-40 euro/kg, now many companies have stopped to vitamin D3 quotation. Affected by environmental factors, the supply of vitamin C and B series products was also tightened, and the supply and demand imbalance between supply and demand was further aggravated by the maintenance of manufacturers, and the price increased.
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The domestic pattern of vitamin market
The increase in vitamin price is a good news for the whole vitamin product terminal market. , according to kang CMH data including B vitamins, vitamin A, vitamin AD and vitamin C, vitamin D, vitamin E, vitamin K, compound vitamin, vitamin and mineral compound vitamins, medicines, in 2016, the five terminal pin scale up to 19.3 billion yuan, up 8.43% from A year earlier.
Sales of vitamin products in the past four years (hundred million yuan)
In terms of the structure of vitamins, the multivitamins account for almost half of the market, accounting for 44.83%. Vitamin D was the second largest market, accounting for 19.44 per cent. Multivitamin is a vitamin that is synthesized from two or more single vitamins. In foreign countries, it is more suitable to be classified as healthy food. In the international market, the growth rate of multivitamins is up to 9%. In the us drug market, multivitamin products account for two-thirds of the market share, so the domestic multivitamin market share is also in line with global market trends.
The scale structure of vitamin market 2016
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In the first half of the year, the company reported a net profit
According to the China kang CMH data, the top 10 enterprises in the sales volume of vitamin products in China have a total volume of 10.73 billion, which accounts for 55.59% of the total scale and the market concentration is high. Thanks to the growth of the original drug, the leading companies in the vitamin concept have a bright eye on the semi-annual report of 2017, and some enterprises have even achieved double growth in the first half of the year. However, due to different environmental and production inputs and priorities, the performance of the report CARDS in the first half of 2017 is slightly different. The performance of the excellent northeast pharmaceutical, garden biology and brother technology three, realized net profit double growth.
Northeast pharmaceutical: northeast pharmaceuticals is one of the nation's largest API manufacturing enterprises, mainly on chemical pharmaceuticals, both biological fermentation microecological agents, Chinese and western medicine preparation, and large-scale comprehensive pharmaceutical enterprise, with obvious scale advantage API. In the first half of 2017, the pharmaceutical industry in northeast China realized a revenue of 27.66 billion yuan, up 15.02 percent year on year and net profit of 396.47 million yuan, up 1162.03 percent year on year. In the reporting period, the company dominated the price of vitamin C, while the sales of long orders decreased from the first quarter.
Garden creatures: garden creatures have more than 50% of NF grade and VD3, and industry has a strong voice. In the first half of 2017, garden creatures realized revenue of 233 million yuan, up 46.4 percent year on year, with a net profit of 7518.89 million, up 378.01% from the previous year. During the reporting period, the company's initial public offering of products - cholesterol and 25 - hydroxyl vitamin D3 - sales increased significantly, increasing the profit of the company.
Brother tech: brother tech vitamin products include vitamin B1, B3, K3 and vitamin B5 series. In addition, the production of B3 core raw materials 3 - cyanopyridine was achieved. In 2017, brother technology realized revenue of 654 million yuan, up 28.61 percent year on year, and realized net profit of 154 million yuan, up 129.42 percent year on year. Brother technology said the rise in performance was mainly due to a rise in product gross margins due to rising prices of some products.
In addition to the listed three performance outstanding, Peking University medicine, tomson times health, million sails pharmaceutical, essence, jin da wei, new and into and north China pharmaceutical were implemented during the first half of 2017 operating income and net profit respectively. But there is a surge in the price of raw materials, and a vitamin - related company has not delivered satisfactory results.
Zhejiang pharma: zhejiang pharmaceutical is the largest producer of vitamin E in China and the second largest producer in the world. Natural vitamin E production is the largest in China, the world's third largest producer; Beta-carotene and cantharidin are the largest and third-biggest suppliers in the world. In the first half of 2017, the operating revenue was 24.85 billion yuan, down 5.95% from the same period last year, and the net profit was 9016.3 million yuan, down 53.07 percent year on year. This is mainly because the price of vitamin E has decreased, leading to a setback in performance.
Taken together, the first half of 2017 the main products involve the vitamin C, vitamin D3, vitamin B series (especially B5) enterprise performance is good, but the vitamin E relevant production enterprise performance is frustrated due to falling prices. In the second half of the environmental protection check rein will become normal trend, and the current market price support strength is stronger, there is a certain rise space, most varieties of vitamins will continue in the first half of the trend of prices or stock prices expected, positive on the vitamin companies 2017 grades.
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