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On the evening of April 10, Joincare Pharmaceutical Group Industry Co., Ltd. (600380.SH) disclosed its 2022 annual report. According to the report, the company achieved operating revenue of 17.143 billion yuan, a year-on-year increase of 7.79%; net profit attributable to shareholders of the listed company was 1.503 billion yuan, a year-on-year increase of 13.10%; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 1.419 billion yuan, a year-on-year increase of 15.84%; earnings per share were 0.7933 yuan, a year-on-year increase of 15.57%. The company plans to distribute a cash dividend of RMB 1.80 per 10 shares (including tax) to all shareholders in 2022, with a total dividend amount (including tax) of cash dividends and cumulative share buybacks reaching 1.067 billion yuan. This year, the pharmaceutical industry structure has undergone major adjustments, with both opportunities and challenges. In the face of a complex external environment and unexpected challenges, Joincare maintained a high strategic level, focused on its pharmaceutical main business, continuously expanded its strategic map, and achieved sustained growth within expectations.

Innovative product matrix blossoms, inhalation preparations contribute explosive incremental growth

In 2022, Joincare implemented the dual-drive strategy of innovative drugs and high-barrier complex preparations, focusing on unmet clinical needs and continuously shaping new development advantages. The company's chemical preparations achieved stable growth in performance, with operating revenue reaching 9.226 billion yuan. Among them, inhalation preparations contributed significantly to the increase, with operating revenue reaching 1.174 billion yuan during the reporting period, a year-on-year increase of 103.37%. Several products in the company's R&D pipeline have made significant progress, and the innovation process has accelerated. Tobramycin inhalation solution has been approved for marketing, as the world's first inhaled drug for the treatment of bronchiectasis, alleviating the long-standing "no drug available" situation for a large number of bronchiectasis patients in China; salmeterol/fluticasone and indacaterol inhalation powder have been filed for production; the improved new drug XYP-001 for pulmonary fibrosis has started Phase I clinical trials in China, solidifying its leading position in the domestic inhalation preparation sector.

In addition to inhalation preparation products, Joincare continues to explore new development momentum in the biological product platform. The company's recombinant novel coronavirus fusion protein vaccine "Likang V-01" has been successfully included in the emergency use of sequential booster immunization and has been used for booster vaccinations in more than 20 provinces and cities across the country, contributing to the smooth implementation of normalized epidemic prevention and control work. In addition, the company's tocilizumab injection, Anvita, has been approved for marketing and included in the treatment plan for severe COVID-19 patients, providing effective treatment drugs and plans for severe COVID-19 "white lung" patients. It is reported that the listing of tocilizumab Anvita is expected to alleviate the tight supply situation and help open a new chapter in the prevention and control of COVID-19.

Joincare takes technological innovation as its ballast stone, continuously increasing R&D investment, and always adhering to the responsibility of a pharmaceutical company for the country and the people. In 2022, the company's R&D investment reached 1.759 billion yuan, accounting for 10.26% of revenue, aiming to drive high-quality industrial development through innovative R&D. In addition to investing in R&D and promoting product launches, the company has implemented inclusive health care through public welfare projects for the prevention and control of chronic diseases, chronic disease science popularization activities, and bronchiectasis assistance programs, continuously improving the public's awareness of the diagnosis, treatment, and management of chronic diseases and improving the accessibility of medication. Therefore, the company has received widespread attention from the government, the market, and all sectors of society, and has been jointly awarded the "High-tech Enterprise Certificate" by the Shenzhen Science and Technology Innovation Committee and other departments.

Accelerated R&D in the synthetic biology industry, synergistic development of industry and finance accelerates internationalization process

In terms of industrial innovation, Joincare closely monitors industry trends and reform directions and has proactively deployed the synthetic biology industry. As early as 2021, the company signed a strategic cooperation agreement with Tencent Quantum Laboratory to jointly promote the research of quantum computing + artificial intelligence in biology and pharmacology. In 2022, the cooperation project completed the development of an algorithm architecture based on deep learning for predicting potential biosynthetic gene clusters (BGCs), and plans to apply for a national invention patent. In the future, it will greatly promote the progress of basic biological research and drug development efficiency, and enhance the company's comprehensive technological barriers. In addition, based on its strategic advantages of "raw materials-formulation integration" and its leading position in core pet drug raw materials, Joincare achieved the listing and sales of its first pet preparation product, imidacloprid moxidectin drops, in 2022, and will join hands with Lizhu Group to further increase its layout in the animal health preparation sector.

In the face of in-depth medical reform and the promotion of supply-side structural reform in the industry, Joincare actively utilizes capital market resources to promote the synergistic development of industry and capital operations, taking the lead in the internationalization path to embrace the opportunities of the times. In September 2022, Joincare's Global Depositary Receipts (GDRs) were successfully listed on the SIX Swiss Exchange, becoming the first biopharmaceutical company in China to issue and successfully list GDRs in Switzerland. Since then, the group's two major listed companies have created a precedent for listing on four exchanges in China, Hong Kong, and Switzerland. Taking advantage of this issuance opportunity, the company will establish an international perspective and achieve an improvement in overall profitability and comprehensive competitiveness.

In the future, Joincare stated that it will continue to conduct in-depth layout around innovation and internationalization, continue to cultivate the innovative drug and high-barrier complex preparation market to achieve performance breakthroughs; at the same time, the company will continue to explore new technological models, integrate digital and intelligent transformation into all links of the industrial chain, discover the optimal strategic combination of artificial intelligence and biomedicine, and continuously consolidate the group's industry position in various sub-sectors, becoming an innovative and comprehensive pharmaceutical enterprise that promotes high-quality development of the industry.

This article is reprinted from: Caifang Report Network