There are only 13 people in Enwei Pharmaceutical R & D team. One secret recipe has eaten for 20 year

There may be many people who may not know Enwei's medicine, but a product it produces is almost well -known -that is, "Jieer Yin washing liquid". What is even more amazing is the origin of this product. It is said that the founder of the company Xue Yongxin was a contractor at the beginning, and encountered the strange "Peng Daoye" to get the secretary of the gynecology, so he gave up the career at the time, and then worked hard to study the secret recipe of "Jieer Yin Washing". En Wei made it step by step.

Data show that the company's revenue from 2019 to 2021 was 621 million yuan, 634 million yuan, and 680 million yuan, respectively. The net profit of the same period was 82.592 million yuan, 98.743 million yuan, and 102 million yuan. 70.3208 million yuan, 79,977,700 yuan, and 84.551 million yuan.

One trick is fresh, eat all over the sky. This secret recipe of Peng Dao has taken Enwei's medicine for 20 years; now, it has made it through the GEM IPO mark. However, this company may be too relied on this secret recipe, so that there is almost no independent innovation. The prospectus shows that the company's full -time R & D personnel team, which is a bit unimaginable for a pharmaceutical company; R & D cost rate has continued to decline. From 2019 to 2021, Enwei's research and development costs were only 4.4026 million yuan, 4.8423 million yuan, and 43.248 million yuan, respectively. During the corresponding period, R & D costs were 0.71%, 0.76%, and 0.64%, which was far lower than those of peers.

In fact, Enwei Pharmaceutical has not been declared new drugs for seven consecutive years. According to the data of Yao Rongyun Platform, Ensi Pharmaceutical's clinical application has not been approved since the clinical application of "more beautiful bubbles" in September 2014, and there is no new drug application record. In recent years, the company's related new drug technology has also been obtained through purchase and other methods.

At present, the gynecological inflammation drug market is fiercely competitive. The price of Jielin washing liquid has fallen from 12.54 yuan/box (bottle) in 2019 to 12.43 yuan/box (bottle) in 2021. The rising cost, the gross profit margin of Jereyin washing liquid continued to decline. From 2019-2021, the gross profit margin was 76.47%, 75.14%, and 73%, respectively.

In any case, for a planned company, Enwei Pharmaceutical's current product matrix is ​​still a bit thin.

According to the prospectus, this IPO company plans to raise 701 million yuan, of which 620 million yuan is used for Sichuan Enwei's pharmaceutical reconstruction and expansion project, and 80.734 million yuan is used for the construction of the Qundu headquarters. The Sichuan Enwei Pharmaceutical Reform and Expansion Project is intended to improve the automation level of the production line, the intelligence of the production process, and the optimization of production technology; the Qamdo headquarters construction project is mainly to increase the production line of traditional Chinese medicine drinks and control raw materials. (Company research room)

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