Zhang Lei is the largest shareholder of Gaochun Capital. Gaoling Capital once again entered the top ten shareholders in Hengrui Pharma, and Gaoling Capital entered Hengrui Pharma through the secondary market. According to the public data of Hengrui Pharmaceutical/KOOC-0/0 shareholders, in the third quarter of 20/KOOC-0/6, Hengrui Pharmaceutical increased its shareholding ratio to 2.93 million shares, and withdrew from/KOOC-0/0 shareholders in 2020. The shareholding ratio of HKSCC dropped from 12.26% to 1 1.97%, and Oppenheimer Fund withdrew from the top ten shareholders; Gaoling Capital holds 0.63% of the shares and becomes the largest shareholder of 10. The most important thing is the shareholders of Hengrui Pharmaceutical. Last year, the annual report was only 280 thousand, and the number of shareholders in the quarterly report still exceeded 360 thousand. The semi-annual report soared directly to 6 10000, which was terrible. A lot of money ran ahead of schedule, and retail investors continued to arrest many people. Previously, the number of shareholders in Hengrui Pharma Interim Report increased to 665,438+0,000, an increase of 65.98%. It seems that Hengrui's share price will not rise for some time, and it will take some time to be patient or wait for the performance to improve.

Earlier, the fund announced its second-quarter earnings report. According to the report, as of June 30th, 326 funds of * * * have disclosed their shares in Hengrui Pharmaceutical, with the number of 236 million shares, down 29.38% from the previous month. The funds held include well-known funds such as E Fund Management Co., Ltd. and Huaxia Fund Management Co., Ltd.

The specific figures disclosed in the financial report: the sales revenue of innovative drugs was 5.07 billion yuan, up 43.8% year-on-year, accounting for 39. 15% of the total sales revenue? If Henri's innovative drugs account for more than half, the hat of generic drug companies will be truly released, and the impact of the loss of contrast agent labels will continue next year, which will be a painful two years. The work of R&D is increasing, but it will take time to see the results.

The revenue growth rate was 65,438+07.6%, which was slightly lower than the return on equity (ROE) and decreased by 25.37% compared with the first quarter. The company said it would cut a large number of generic drugs. Actually, this is a good thing. Although this year's stock price trend reflects the expectation of the company's performance, although this year's stock price continues to fall and digest the valuation, the performance of the valuation is still not cheap. Ruiyao is still a good leading pharmaceutical company in joint-stock innovation, but friends who want to bargain-hunting also need to wait. Now the market's performance expectations for the next few quarters are still very low. Financially speaking, we hoped that pD- 1 would get the dividend, but we received the dividend directly. It is difficult to estimate that the progress of new drugs can't keep up with the development of the market. The company is in transition, and the transition will not be so fast or so painful. To sum up, although Gaochun Capital has indeed invested in the primary market for a long time and has been listed in the form of IPO, there have been many cases in which Gaochun Capital participated in the secondary market or bought stocks at high prices in recent years. Due to various factors pushing up the stock price, in less than two years, there are also many cases of reducing their holdings.