Welcom to Sichuan Hengkang Science and Technology Development Co.,Ltd.

On March 25,Porton Shares (300363) released its annual report:

In 2021, the company achieved an operating income of 3.105 billion yuan, up 50% year on year, and the revenue scale reached a record high. The net profit attributable to shareholders of listed companies after excluding non-recurring gains and losses was 503 million yuan, up 74% year on year, and the R & D expenses were 264 million yuan, up 67.15% year on year.

During the reporting period, the company’s revenue contribution mainly came from the API CDMO business of the core business sector, with an operating revenue of 3.069 billion yuan, up 51% year on year. Preparation CDMO business, achieved a breakthrough from “0 to 1″, achieved operating income of 20.16 million yuan.

Gene cell therapy CDMO business, achieved an operating revenue of 13.87 million yuan, up 897% compared with the same period last year.In the field of gene cell therapy CDMO business, the company introduced 27 new projects and signed a new order of about 130 million yuan, mainly involving AAV virus packaging, CAR-T cell IND production, CAR-NK project poison batch and registration batch production, plasmid process development, engineering batch and GMP production, TIL cell IND declaration, live bacteria project and other different types of services.

In terms of customer location, the European market, grew by 40% in 2021, and the second and third markets, North America and China, increased by 71% and 110% respectively during the reporting period.

In 2021, the company continued to increase marketing and business expansion, introducing 113 new customers, including 76 new customers for API CDMO business, 23 new customers for preparation CDMO business and 15 new customers for gene cell therapy CDMO business.During the reporting period, the company served 277 customers (including order customers only).During the reporting period, the top ten customers accounted for 63% of the revenue.

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In 2021, through market expansion and marketing promotion, the company continued to consolidate its industry position in the international market, and initially established a good brand influence in the domestic market.In 2021, the number of service items of the company (including only those sold during the reporting period, excluding J-STAR) totaled 410, up 14% year on year.Among them, 209 projects are in preclinical and clinical phase I, 65 are in clinical phase II, 44 are in clinical phase III, 10 are in new drug marketing application stage, and 87 are in marketing stage (see Figure 3 for details).The company introduced 212 new products (excluding J-STAR), and the new products (excluding J-STAR) contributed about 29% of the total operating revenue in 2021.During the reporting period, the revenue of the company’s top ten products accounted for 37%.

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On March 25, the company also released its Q12022 results: Benefiting from the continuous high prosperity of the CDMO industry, the company’s customer pipelines and product pipelines continue to expand and enrich.In the first quarter of 2022, the company’s orders in hand increased strongly, and the major orders received by the company were successively delivered successively during the reporting period. The company is expected to achieve operating revenue of 1.357 billion yuan and 1.466 billion yuan, up 150% and 170% year on year.With the strong growth of operating revenue, the company continues to improve its research and development technology capacity and delivery capacity. In the first quarter of 2022, it is expected to achieve the net profit attributable to shareholders of listed companies excluding non-recurring gains and losses of 324 million yuan and 339 million yuan, up 330% and 350% year on year.

Porton is a successful case of transformation from API CDMO to preparation and GCTCDMO, with a current market value of 51 billion yuan.After four years of strategic transformation and upgrading,Porton has established a business system covering three sectors of “API CDMO”, “preparation CDMO” and “gene cell therapy CDMO”, which can provide customers with CDMO services in the whole life cycle of drug development from preclinical development to clinical trial to marketing.

Post time: Apr-02-2022