Home » Peripheral bad news hits the performance of pharmaceutical stocks, BeiGene lands on the Sci-tech Innovation Board and breaks on the first day-Economic Observer Network-Professional Financial News Website

Peripheral bad news hits the performance of pharmaceutical stocks, BeiGene lands on the Sci-tech Innovation Board and breaks on the first day-Economic Observer Network-Professional Financial News Website

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Economic Observer Network reporter Liang Ji Zhou Yifan On December 15, 2021, the three major Hong Kong stock indexes fell across the board. As of the close, the Hang Seng Index reported 23420.76 points, down 0.91%; the Hang Seng China Enterprise Index reported 8342.91 points, down 0.90%; the Hang Seng Technology Index reported 5795.44 points, down 1.52%.

As for A shares, the Shanghai and Shenzhen stock markets both closed down. The Shanghai Composite Index closed at 3,647.63 points, down 0.38%; the Shenzhen Component Index closed at 1,5026.21 points, down 0.73%

In today’s market, nothing is more concerned than the severe setbacks of A-shares and pharmaceutical and biological stocks in the Hong Kong stock market. The star stock WuXi AppTec (603259.SH) fell by a limit late at 124.02 yuan per share, with a total market value of 366.5 billion yuan, and a single-day market value of more than 40 billion yuan; on the Hong Kong stock market, WuXi AppTec (2359.HK) fell 19.06% .

The much-anticipated BeiGene (688235.SH) landed on the Sci-tech Innovation Board today and fell into a situation where it broke the first day. The company issued a price of 192.6 yuan per share, as of the end of the trading report closed at 160.98 yuan, a decrease of 16.42%, with a total market value of 214.9 billion yuan.

Peripheral negativePharmaceutical stocks plummeted

In terms of Hong Kong stocks, in terms of industry sectors, pharmaceuticals, biotechnology and life sciences led the decline, with a decline of 9.21%; medical care equipment and services, consumer durables and clothing fell 2.43% and 2.17% respectively. In addition, the technical hardware and equipment, software and services, and materials II sectors fell more than 1%.

According to foreign media reports, the U.S. Department of Commerce is expected to include more than 24 Chinese companies on the “Entity List” on Thursday (16th), including companies involved in the field of biotechnology.

Under the influence of related news, WuXi Biologics (2269.HK) and WuXi AppTec fell 19.24% and 19.06%, respectively. In addition, Kailaiying (6821.HK), Zhaoyan New Drug (6127.HK) and Kanglong Chemical (3759.HK) fell more than 15%. Neptunus Intron (8329.HK) and GenScript (1548) .HK) and Junshi Bio (1877.HK) fell more than 10%.

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In terms of A shares, the pharmaceutical and biological sector led the market with a decline of 2.31%, and WuXi AppTec led the decline with a decline of 10%. Bipsace (301080.SZ) and Tigermed (300347.SZ) also fell more than 8%.

From the perspective of market capital flow, Wind Pharmaceutical, Biotechnology and Life Sciences industries have a net outflow of 4.567 billion yuan, accounting for the third largest net outflow of major funds that day. Among them, WuXi AppTec’s net outflow reached 1.443 billion yuan, accounting for the third largest net outflow of individual stocks. . In this regard, some industry insiders said frankly that in late trading, WuXi AppTec and many other CXO stocks plunged and fell to affect sentiment. Superimposed on the break of BeiGene’s listing today, the sentiment of the short-term pharmaceutical sector may be affected to a certain extent.

The investment research team of Futu Securities told reporters that in the competitive strategy released by American think tanks, genetic engineering was the focus of the industry. As a broader concept, genetic engineering involves agriculture, biomedicine and other fields. Among them, the market is more familiar with mRNA COVID-19 vaccine, CAR-T therapy, etc. WuXi Biologics and WuXi AppTec are the target companies.

CXO Pharmaceutical Researcher Mao Dingding said that domestic CXO companies have developed rapidly in recent years, mainly benefiting from global biomedical technology advancement, industrial chain transfer under engineer dividends, and rapid progress in the domestic biopharmaceutical industry. It has now become a global biopharmaceutical industry chain. An indispensable part, this is the result of market-oriented competition.

He further pointed out that forcibly distorting the industrial chain will have a negative impact on the global innovative drug industry. For example, a large part of the upstream supply chain of Pfizer’s small molecule new crown drug is in China. From the perspective of commercial market competition, the domestic CXO industry still has a lot of room for development. However, the above-mentioned rumors belong to a more complex dimension of non-market competition, which exceeds the judgment dimension of ordinary investors. Therefore, it is recommended to wait for further information to appear.

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Dai Wen, a pharmaceutical analyst at Huatai Securities, believes that companies such as Kangsino may be affected too much. As for CXO, it is very unlikely that CXO will be included in the list in principle. It is not actually included in the sanctions list once or twice. Xiaomi was included in the sanctions list and successfully issued a complaint. This shows that the list is still relatively rational, and there are not too many companies affected in this round, especially listed companies.

BeiGene broke the first day of listing

BeiGene listed on the Science and Technology Innovation Board on December 15, becoming the world’s first company listed on the Shanghai Stock Exchange, the Hong Kong Stock Exchange and the Nasdaq. This time, BeiGene raised 22.16 billion yuan on the Science and Technology Innovation Board, which is second only to SMIC’s record of 53.23 billion yuan.

However, BeiGene fell 8.12% at the opening, and the stock price fell all the way afterwards. As of the close, it was reported at 160.98 yuan per share, down 16.42%, and the market value was 214.9 billion yuan. BeiGene’s issue price is 192.6 yuan per share. Based on this calculation, the investor’s first lottery (500 shares) has a floating loss of about 16,000 yuan.

Public information shows that BeiGene was established in 2010 and is a global, commercial-stage biotechnology company focusing on research, development, production and commercialization of innovative drugs.

From 2018 to 2020 and from January to June 2021, BeiGene achieved revenues of 1.310 billion yuan, 2.954 billion yuan, 2.12 billion yuan, and 4.891 billion yuan, respectively, and net profits were -4.747 billion yuan, -6.915 billion yuan, and -11.384 billion yuan. Yuanhe-2.493 billion yuan.

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As for institutional investors, BeiGene has a luxurious lineup. Since 2014, Hillhouse Group has participated in 8 rounds of financing of BeiGene; the prospectus shows that Hillhouse Group is the third largest shareholder of BeiGene, and Hillhouse Group and its subsidiaries hold a total of 147 million BeiGene Shares. In addition, Amgen, Baker Brothers, Capital Research and Management, etc. are also on the list of institutional investors.

Prior to this, the amount of abandonment of new shares of BeiGene was nearly 200 million yuan, setting a new high in the amount of abandonment on the Science and Technology Innovation Board. According to the issuance results announced by BeiGene on the evening of December 7th: the number of subscriptions paid by online investors is about 40.387 million shares, and the subscription capital is about 7.78 billion yuan; the number of subscriptions by offline investors is about 56.377 million shares, and the subscription capital is about It was 10.858 billion yuan.

It is worth noting that some online investors of BeiGene chose to abandon the purchase. According to the announcement, the number of online investors abandoning subscription is 1.0325 million shares, and the part of the abandonment by investors will be mainly underwritten by CICC. If calculated on the basis of 115 million shares issued by the company, the overall abandonment rate is 0.90%.

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