On October 28, 2021, Chengda Bio, an investment company of Sensegain, was successfully listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange. The company's stock code is 688739.SH, the issue price is 110 yuan per share, and the issue price-earnings ratio is 54.24 times.
Liaoning Chengda Biological Co., Ltd. is a high-tech enterprise established in June 2002 based on the international advanced viral vaccine production technology platform. It is the world's largest human rabies vaccine manufacturer.
The company focuses on the research and development, production and sales of human vaccines. Its core products include human rabies vaccine and JE inactivated vaccine. Human rabies vaccine is currently the only rabies vaccine sold in China that can be injected with Zagreb2-1-1. From 2017 to 2018, the sales volume ranked first in the world for two consecutive years; rabies inactivated vaccine is the only domestic rabies inactivated vaccine product currently on sale in China. The company's products are sold to all provinces, municipalities and autonomous regions in China except Hong Kong, Macao and Taiwan, including nearly 2,000 district and county-level CDCs, and exported to countries along the Belt and Road such as Thailand, the Philippines and Egypt. The company's main core technology is "the technology platform for large-scale production of vaccines in bioreactors", which has significant advantages in major technical indicators such as cell culture density, harvested virus expression titer, and residual impurities.
The company's performance has continued to grow in recent years. From 2018 to 2020, the operating income was 1.391 billion yuan, 1.677 billion yuan and 1.996 billion yuan respectively, and the net profit was 620 million yuan, 698 million yuan and 918 million yuan respectively.
According to the issuance announcement, 41.65 million shares were issued this time, accounting for about 10.00% of the company's total share capital after the issuance, and the issuance price was 110.00 yuan per share. After deducting the issuance costs, the net amount of funds raised is expected to exceed 4.3 billion yuan, and the funds will be mainly used for the construction project of the first phase of the human vaccine project of Benxi Branch, the construction project of the intelligent workshop for human vaccines, the human vaccine research and development project and the financing of working capital. Replenish.
The fund managed by Sensegain completed the investment in Chengda Bio in 2017. After the investment, it has always adhered to the value investment concept, and has experienced the turbulent economic environment and the biomedical industry together with the company. In the process of securitization, Chengda Biology has considered the main board, the third board + H shares, and finally chose the science and technology innovation board that best represents China's future economic development direction and reflects the achievements of technology industrialization for IPO. Shareholders have delivered great returns.
Over the years, Sensegain has been adhering to the investment concept of "industry-driven investment, research and creation of value", constantly improving its valuation and pricing analysis capabilities based on the second-level and first-level, grasping the changing trends of the capital market with a professional vision, and promoting transactions with investment banking methods , Promote implementation, help investee companies connect with business resources, formulate listing plans, and assist investee companies in industrial chain extension and strategy implementation. In the future, Sensegain will continue to lay out sub-tracks along the industrial chain, help LPs to grasp high-quality assets representing the future direction of China's economic development, and share the capital dividends of China's economic restructuring, industrial upgrading and technological development.
