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        News

        News

        Sino Biopharm Holds 2022 Interim Results Announcement and First Investor Day

        Release time:2022-08-25

        On the morning of August 24, Sino Biopharm (HK.01177) held its 2022 interim results conference and the first Investor Day in Beijing. The company's Chairwoman of the Board of Directors, Miss Tse, Theresa Y Y, the new Chief Executive Officer (CEO), Mr. Tse, Eric S Y, and the company's senior management attended the event, which was also participated by investors and media from around the world through offline and online means. The semi-annual report of the company shows that in the face of challenges from external unfavorable factors such as the epidemic, the company has achieved stable growth in revenue and net profit by focusing on improving its main business and insisting on high-quality innovation, with operating revenue reaching 15.19 billion yuan (RMB, same below) in the first half of this year, an increase of 5.9% year-on-year, and adjusted net profit attributable to the mother company reaching 1.66 billion yuan, an increase of 4.5% year-on-year.

         

         

        The semi-annual report data shows that new products, innovative drugs and oncology drugs have become the company's second growth curve due to its insistence on high-quality innovation and continuous increase in R&D investment. The company's new products in five years contributed 6.61 billion yuan of revenue, accounting for 43.5%; innovative drug revenue totaled 3.49 billion yuan, accounting for 22.9%, up 14.2% year-on-year. Approved products have continued to release in the past three years, forming 35 products clusters with over 100 million yuan.

         

        Four major therapeutic areas, including anti-tumor, performed well

         

        From the perspective of the four key therapeutic areas of Sino Biopharm, the first half-year performance was outstanding. Anti-tumor remains the company's top business segment, achieving revenue of 4.96 billion yuan in the first half of the year, up 16.7% year-on-year, with increasing revenue accounting for 32.6%. During the reporting period, the company's anti-tumor products with over 100-million-yuan annual revenue reached 17, and the two core varieties of Anlotinib hydrochloride and Penpulimab continued to maintain a strong growth rate. In the first half of the year, the company completed the declaration of production of two chemical innovative drugs and three biological products, achieving full coverage in the field of solid tumor, hematoma, anti-angiogenesis and immunity in the anti-tumor segment. Products with over 500 million yuan revenue in the field of liver disease include magnesium isoglycyrrhizinate injection and entecavir dispersible tablets, and magnesium isoglycyrrhizinate injection grew rapidly in the reporting period. In the field of surgery/analgesia, flurbiprofen cataplasms maintained rapid growth in the first half of the year, with a 5-year compound growth rate of 38%.

         

        Innovative drug revenue hopes to exceed 10 billion in 2023

         

        In the outlook section of the half-yearly report, it is mentioned that innovation has become an important driver of growth for Sion Biopharm, with R&D investment of RMB 2.19 billion in the first half of the year, an increase of 16.5% year-on-year, accounting for a record high of 14.4%; the revenue share of innovative drugs is expected to reach 24% in 2022 and is expected to exceed the RMB 10 billion mark in 2023, further increasing its share. In 2030, the Group's revenue will hopefully reach HK$100 billion, of which innovative drugs will account for 60%.

         

         

        Miss Tse, Theresa Y Y, Chairwoman of the Board of Directors of Sino Biopharm, said that the Group has established four strategies: "organization integration, comprehensive innovation, digitalization and internationalization", of which the internationalization strategy includes two major parts: "bringing in" and "going out". In terms of "bringing in", INVOX, a wholly-owned European subsidiary, has been established to focus on differentiated technologies such as dual-antibody, triple-antibody platform and mRNA/DNA, and to carry out a comprehensive global strategic layout. At the same time, the Group has also been investing in internal innovation and R&D to provide a new growth engine for the company's goal of becoming one of the "Top 30 Companies in the World".

         

         

        The event on August 24th is also the first public appearance of the new CEO Mr. Tse, Eric S Y after taking up his new position. He said that Sino Biopharm will promote operational reform through a "combination" around five major aspects: R&D efficiency, production efficiency, marketing efficiency, management efficiency, and cultural construction, and continue to reduce costs and increase efficiency. Among the five aspects of operational reform, Mr. Tse, Eric S Y especially emphasized the improvement of R&D efficiency. He pointed out that the company will further integrate resources, take the group as the grip to layout the four core areas of "oncology, surgery/analgesia, liver disease, respiratory" on the BD mergers and acquisitions at home and abroad, and combine the resource advantages of each subsidiary company for precise adaptation to accelerate product implementation.

         

        CSO of Sino Biopharm, Chen Penggen, Head of INVOX, Ben Toogood, Vice President Mr. Jin Song, and President of CTTQ, Yu Kangxin are also present at the conference and communicate with investors.

         

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