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Luye Pharma Group's H1 Profit Up By 159%
LUYE PHARMA: Interim Report 2024
Institutions Profited After Luye Pharma Group Ltd.'s (HKG:2186) Market Cap Rose HK$451m Last Week but Private Companies Profited the Most
With a compound annual growth rate of only 2.6% over the past five years, China's top 100 pharmaceutical companies are entering an adjustment period. How will the industry break through under internal and external pressures?
According to the data from China Meheco Group, in 2023, multiple operation indicators of the pharmaceutical industry's leading companies have declined. The compound annual growth rate of the top 100 pharmaceutical companies in the country in the past five years is only 2.6%, and the industry as a whole has entered the adjustment phase from the initial high-speed growth. Behind the weak growth, the health industry is also undergoing transformation: overseas licensing trades for innovative drugs have reached a new high, and leading companies are accelerating outward expansion...
Founder Securities: the revenue growth rate of the pharmacy sector slows down, and the concentration is expected to accelerate.
The individual account reform of medical insurance has led to a decrease in personal account income, affecting pharmaceutical sales and pharmacy business relying on individual account payments. In 2023, pharmacy medical insurance personal account expenditures decreased by 9%, and this trend is expected to continue in 2024.
Is the chain of pharmacies entering a "mini ice age"? H1 growth rate "downgrades", the industry's high-growth stores may reach turning point.
① The growth rate of sales revenue of all categories in retail pharmacies has slowed down, and the competition in stock continues to intensify. In the first half of this year, it was difficult for major chain pharmacies to increase revenue and profit. ② In the future, the focus of pharmacy competition will shift to commodity extension and services. According to the prediction of Zhongkang Industry Research Institute, the growth rate of pharmaceuticals in all end terminals in 2024 is expected to decrease to 4.9%, a decrease from 2023.
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