A total of 449 pharmaceutical and health-tech companies listed in China have released their H1 2022 financial reports, with over 40% reporting growth in both revenues and net profits. Among these, 14 companies recorded net profits exceeding RMB 2 billion (USD 287 million). Andon Health led the pack with RMB 15.2 billion (USD 2.18 billion) in net profit, while Mindray Bio reported RMB 5 billion (USD 717.6 million).
Notable Performers
Humanwell Healthcare, Jumpcan Pharma, and Asymchem achieved net profits over RMB 1 billion (USD 143.5 million) for the first time. In terms of revenues, 21 companies surpassed the RMB 10 billion (USD 1.43 billion) mark, with Shanghai Pharma topping the list. Mabwell, Sinocelltech, and Wolwo Bio were among 12 companies with gross profit margins exceeding 90%. However, 67 companies reported losses.
Shanghai Pharma’s Strong Performance
Shanghai Pharma reported RMB 111.7 billion (USD 16 billion) in revenues for H1 2022, a 6.15% year-on-year increase. Pharmaceutical industry revenues accounted for RMB 13.05 billion (USD 1.8 billion), up 3.56% YoY, while sales of 60 key products rose 13.69% YoY. R&D investment reached RMB 968 million (USD 138.9 million), representing 7.41% of industrial sales revenue. The company has 50 pipeline candidates at or near clinical stages, including 42 novel drugs and 8 modified drugs, with six innovative pipelines in pivotal or Phase III clinical stages. Pharmaceutical commerce generated RMB 89.657 billion (USD 12.8 billion), up 6.50% YoY. In July, Shanghai Pharma won 28 tender spots in the 7th national volume-based procurement (VBP) round, the most among all participants.
Jointown Pharma Group’s Expansion
Jointown Pharma Group, which covers digital pharmaceutical distribution, supply chain businesses, general agent brand promotion, pharmaceutical industry self-production and OEM, pharmaceutical retail and franchise, digital logistics and supply chain solutions, and healthcare and technology value-added services, reported RMB 67.98 billion (USD 9.75 billion) in revenue, a 9.69% increase. The company vigorously promoted its “Ten Thousand Stores Alliance” plan, boosted the “Power Health” platform, and focused on B2B/BC warehouse and distribution integration projects. Jointown has a business presence covering 12,000 public hospitals, 199,000 grassroots and private hospitals, 175,000 chain and retail pharmacies, and other physical end customers, including e-commerce platforms such as JD.com, Alibaba, and Leyo Pharm. The implementation of VBP has been beneficial for Jointown, bringing opportunities for its pure hospital marketing business, ex-hospital market, and general agent brand promotion business.-Fineline Info & Tech
