Original title: Medical beauty concept stocks are overvalued?LANZY shares, whose stock price has increased by more than 8 times a year, was reduced by key shareholders
The medical beauty sector, which has been hilarious for a long time, appeared “tired”.
Recently, the medical aesthetics concept sector index has continued to fall.Longzi sharesThe overall performance of the “pulled down” sector or is there a bubble in the medical beauty concept stock sector itself?
The medical beauty industry was one of the most watched sectors of the capital market in the first half of the year.
Since the beginning of this year, the share prices of five medical beauty stocks have doubled.Transition from high-end women’s clothing to the medical beauty trackLongzi sharesAmong them, as of June 8, the company’s share price has risen by more than 100% this year, ranking fifth.
originalLongzi sharesThe ranking can be higher.However, on June 5th, Longzi shares releasedshareholderPre-disclosure of share reduction planannouncement. This paper announcement made the market “changed”: From June 7th to June 8th, Langzi shares fell by the limit for two consecutive trading days, and the total market value shrank by 5.3 billion yuan.
On the evening of June 8th, Langzi shares issued an announcement stating that after Shen Bingyun’s plan to reduce the shareholding of Langzi shares is completed, he will use compliance channels and appropriate methods to help with an amount of no less than 500 million yuan. The strategic implementation of Longzi’s medical beauty business.
Can this change the stock price trend of Longzi shares? How will the above funds help the company’s medical beauty business development?
Key shareholders liquidation and reduction
The stock price fell limit for 2 consecutive trading days
On June 1, the stock price of Langzi shares reached a new high, reaching 71.60 yuan per share. On June 1, 2020, the stock price of Langzi shares was only 7.87 yuan per share, and its stock price increased by more than 8 times in a year. .
On June 5, Langzi issued a pre-disclosure announcement on the shareholder reduction plan. The controlling shareholder, the actual controller Shen Dongri and the actual controller Shen Jinhua, acting in concert, Shen Bingyun, intends to pass a centralized bidding transaction orbig dealThe reduction of the company’s shares held by him in other ways did not exceed 19,976,900 shares, accounting for 4.49% of the company’s total share capital. According to the 2020 annual report of Langzi shares, Shen Bingyun is one of the company’s ten largest shareholders, holding 4.49% of the shares, and the sell-off means “clearance and reduction.”
In the announcement, Langzi shares emphasized that Shen Bingyun is already at a high age, and this reduction is due to the needs of his own life and asset planning, and is optimistic about the company’s future development, especially the company’s medical aesthetics business.
However, this statement of the company has not been recognized by the capital market. On June 7, the stock price of Langzi shares fell to the limit.
On the evening of June 7th, Langzi shares issued an announcement again that the company’s deputy general manager Langzi and general manager of the business department Pan Linyan resigned from the position of deputy general manager and general manager of the business department of the company due to personal reasons. After resignation, he will no longer hold any position in the company. Position. On June 8th, Langzi shares reappeared at the opening of the lower limit and closed at 51.56 yuan per share, with a market value of 22.8 billion yuan. Compared with the closing price of 63.65 yuan per share on June 4, the market value of Langzi shares in 2 trading days has shrunk by about 5.3 billion yuan.
Regarding the market performance of the company’s stock price, a reporter from the “Securities Daily” contacted the relevant person in the Secretary of the Board of Longzi Co., Ltd., but as of press time, the company has not yet responded.
Increasing competition in the medical beauty track
Operating costs rose by nearly 40% last year
The main business of Longzi shares covers the three major pan-fashion business systems of women’s fashion, medical beauty and green babies.The company’s 2020 annual report data shows that fromOperating incomeFrom a point of view, in addition to the medical beauty business revenue increased by 29.28% year-on-year, the revenue of the other two major businesses both decreased year-on-year.In addition, fromNet profitIn terms of indicators, the net profit of the fashion women’s clothing business has declined, and the net profit of the green baby and children business has lost. Only the medical beauty business has achieved year-on-year growth.
In the first quarter of 2021, Longzi’s fashion women’s clothing achieved operating income of 409,083,400 yuan, an increase of 41.91%; medical beauty business achieved operating income of 259,464,900 yuan, an increase of 92.03%; infant and child business achieved operating income of 223,351,800 yuan, a year-on-year increase An increase of 36.90%.
This means that the medical beauty business is the biggest bright spot in the business of Longzi shares.
Langzi shares now owns 19 medical beauty institutions, shares and is entrusted to manage 1 institution, including 4 hospitals and 16 outpatient clinics or clinics, which are mainly distributed in Chengdu, Xi’an, Chongqing, Shenzhen, Changsha, Baoji, Xianyang and other regions. Currently, there are three domestic medical beauty brands in operation: “Milan Baiyu”, “Jingfu Medical Beauty” and “High Life”.
“The medical beauty business deployed by Longzi shares, if meticulously cultivated, will still have a certain competitiveness in the city where it is located.” iiMedia Consulting CEO Zhang Yi analyzed to a reporter from the Securities Daily that the rapid growth of the company’s medical beauty business has driven it. The stock price continues to rise. However, the growth of Longzi’s medical beauty business is not enough to support such a high stock price.
Zhang Yi believes that compared with Europe, America, Japan and South Korea, China’s medical beauty industry is still in the early stage of development. At this stage, the barriers to entry in the medical beauty industry are low, and there is a mixed bag.
In this context, the competition faced by Longzi shares is also intensifying. Data show that in 2020, the operating cost of the medical beauty business of Langzi shares will increase by 39.70% year-on-year.
Many concept stocks doubled during the year
Is the medical beauty industry overrated?
According to iiMedia Consulting’s data, the market size of China’s medical beauty industry reached 176.9 billion yuan in 2019, and it is expected that the size of China’s medical beauty market will expand to 311.5 billion yuan in 2023.
Benefiting from the broad development space, since 2021, medical beauty concept stocks have fully blossomed. Take A-shares as an example, it is almost as hot as medical beauty. As of June 8, 12 medical beauty concept stocks have increased by more than 50%, and 5 of them have increased by more than 100%. In addition, CVSource investment data shows that from 2021 to the present, in just four months, the funds invested in the medical beauty track have reached nearly 500 million yuan. This number exceeds the financing scale of the medical beauty industry for a whole year from 2019 to 2020.
At the moment when the medical beauty track is hot, the attention of the capital market continues to increase, and some listed companies have started to transform the medical beauty industry. According to statistics from reporters, in recent years, many listed companies, including real estate and pharmaceuticals, have deployed and transformed the medical beauty industry.
“Affected by the hype of medical beauty concept, most medical beauty concept stocks on the market are currently overvalued.”BroadcomSenior analyst in financial industryAnalystWang Pengbo told the “Securities Daily” reporter that based on optimism about future demand and market size, medical and aesthetic stocks generally have a certain increase.
“At present, most of my country’s medical aesthetics stocks have not yet established an obvious industry moat. In addition, the deployment of the medical aesthetics market through acquisitions also requires actualPerformancetest. “Wang Pengbo said.
IiMedia Consulting CEO Zhang Yi believes that, at present, the entire medical beauty industry in my country is still in its infancy, and the industry is facing problems such as uneven workforce and low level of medical technology.
Regarding the future development of the medical cosmetology industry, Zhang Yi said: “China’s overall population base is very large. Not only women, but men are also doing medical cosmetology. With the improvement of the talent pool and the level of medical cosmetology, the industry still has a relatively large population. growing space.”
(Source: Securities Times)
(Editor in charge: DF537)
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