1, Yu was founded in: 1996 Company: Hangzhou Bailongsi Information Technology Co., Ltd. Yu, a subsidiary of Shanghai Industrial Co., Ltd., whose moxibustion apparatus has been well received by consumers. 2. Kangcaotang was established on 20 15. Company: Shenzhen Kaidingju Technology Co., Ltd. Kangcaotang is a personal family health care brand, and its silent moxibustion instrument is also very popular. 3. Wooden shield was established on 20 10. Company: Qingdao Mudun Industry and Trade Co., Ltd. Mudun is a family health care brand, and its remote moxibustion instrument is cost-effective, both heating block and high temperature resistance, which is very easy to use. 4. Date of establishment of Luyuantang: 2002 Company: Jiangxi Luyuantang Pharmaceutical Co., Ltd. Luyuantang is a subsidiary of Jiangxi Luyuantang Pharmaceutical Co., Ltd., which was established in 2002 and mainly engaged in the sales of medical devices, sanitary products, cosmetics and other products. 5. Auntie Qi was founded on 20 1 1 year. Company: Qi Chunming Ayi Ai Cao Products Co., Ltd., whose full name is Qi Chunming Ayi Ai Cao Products Co., Ltd., is a company integrating the cultivation, processing and sales of Ai Cao products and personal care products, and is produced by moxibustion apparatus. 6. The bug was founded on 20 12. Company: Shanghai Haoao Trading Co., Ltd. worms is a subsidiary of Shanghai Haoao Trading Co., Ltd., which was established on 20 12. Since its establishment, the brand has been deeply loved by users. 7. Liqun was founded in 1964. Company: Liqun Group Co., Ltd. Liqun Group Co., Ltd. is a well-known chain drugstore brand with a history of more than 40 years. It is a time-honored brand in China and has been ranked among the top 500 Chinese enterprises since 2004. 8. Jin was founded on 20 14. Company: Hebei Zeqi Environmental Protection Technology Co., Ltd. Golden Brand belongs to Hebei Zeqi Environmental Protection Technology Co., Ltd., which was established on 20 14, and is mainly engaged in the sales of air purifiers, medical devices, Chinese medicine devices, moxa sticks and moxa rolls. 9. Zhifutang was founded on 20 17. Company: Hangzhou Byrons Information Technology Co., Ltd. Zhifutang is a brand of Hangzhou Byrons Information Technology Co., Ltd., which was born on 20 17. Mainly engaged in health products such as medical devices and physiotherapy equipment. 10. Guo Xin hall was established on 20 14. Company: Qichun Chutian Health House Artemisia Products Co., Ltd. Guo Xin Hall is a well-known health brand, which was born on 20 14. The company focuses on the production and research of moxibustion, and the products have been selling well and are very popular with consumers.
Summary: The company realized an operating income of 59.65 billion yuan in 202 1; The net profit of returning to the mother was 654.38+04 billion yuan.
The 14th Five-Year Plan is far-sighted, and the revenue target of 100 billion yuan can be expected.
By 2025, the company's revenue target will exceed 1000 billion yuan, and strive to reach more than 1200 billion yuan. During the tenth five-year plan period, the compound growth rate of income will reach 1 1%~ 15%.
In terms of business sector, we will strive to achieve more than half of the revenue of Guo Da pharmacies in 2025, and the compound growth rate of Guo Da pharmacies will exceed 25% during the "14th Five-Year Plan" period, and the growth rate of distribution business will be close to double-digit growth.
Profit forecast and investment advice.
It is estimated that the EPS from 202/kloc-0 to 2023 will be 3.8 1 yuan, 4.42 yuan and 5.27 yuan respectively, and the corresponding PE will be 8 times of 1 1 times and1times respectively.
Considering that the company's retail+distribution industry system is perfect, and the infrastructure such as logistics and informatization is perfect, we will speed up mergers and acquisitions to expand stores and maintain the "holding" rating.
1. The scale of drug retail market in China has been continuously expanded for 202 1 year, and China is still in an important strategic opportunity period of transformation and development.
However, with the domestic economic growth and structural adjustment, people's living standards have been continuously improved, and the concept of great health has been continuously strengthened. The demand for medical and health services in the whole society will continue to grow, especially the aging population, which will further expand the scale of the drug circulation market.
Therefore, the overall development of 202 1 industry will still show a steady growth trend.
2. A new round of M&A in the pharmaceutical retail industry further improves the industry concentration. As the endogenous growth of the industry slows down, the pharmaceutical circulation industry will enter a new round of extension mergers and acquisitions.
On the one hand, national drug circulation enterprises will further expand the coverage of domestic circulation network through mergers and acquisitions; On the other hand, regional drug circulation enterprises will also accelerate cross-regional mergers and acquisitions to enhance regional coverage and market influence; Therefore, drug circulation enterprises with small scale, single channel and insufficient financial strength may face market elimination.
3. The scale, standardization and specialization of logistics services in the pharmaceutical supply chain have been continuously improved. In order to seek new profit growth points, pharmaceutical circulation enterprises will expand their business in the direction of upstream production of R&D services and downstream terminal sales services by integrating supply chains.
Provide clinical trials, procurement planning, inventory management, end-to-end logistics and data information services for pharmaceutical enterprises; Downward, we will provide hospitals, clinics, nursing homes and retail pharmacies with refined extension services such as hospital logistics, pharmacy management, pharmaceutical services and drug traceability, and gradually realize the seamless connection between drug production, circulation and use.
4. Medical e-commerce builds a large health ecosystem in all directions. Under the background of the country's in-depth promotion of "internet plus" action plan, the drug circulation in "internet plus" and the medical service in "internet plus" ushered in a major opportunity period.
Medical e-commerce enterprises will fully integrate Internet medical institutions, online pharmacies, patients and other terminal resources, explore innovative services, and provide Internet medical institutions with services such as medical insurance settlement convenience and medical big data inquiry; Provide remote prescription audit, medication guidance, logistics and distribution services for online pharmacies; Customize personalized health management programs for patients, provide all-round health management services, and create an open and large health ecosystem with patients as the center and data as the link.
5. Professional support and technical empowerment to promote the transformation and upgrading of retail pharmacies. Under the joint influence of policy, technology and market, specialized pharmacies, chronic disease pharmacies, "pharmacies+clinics" and traditional Chinese medicine clinics will continue to emerge, and pharmaceutical service professionals will become the core competitiveness of pharmaceutical retail enterprises.
At the same time, smart pharmacies will become a new bright spot in the transformation and upgrading of the industry.
Retail pharmacies will change the traditional service model, and use information and intelligent tools such as WeChat payment, face payment and AI robot shopping guide to create new models such as mobile scene marketing and unmanned drug sales, and accelerate the transformation and upgrading of enterprises.