Benefiting from the launch of swine OA bivalent vaccine, Jinyu Bio-technology achieved high growth in performance in Q3

By CnAgri2018-12-07 11:17:35 Print From the financial report released by Jinyu Bio-technology, the sales revenue of commercial FMD vaccine in the first three quarters of 2018 amounted to about 830 million yuan. In Q3, the sales revenue reached 380 million yuan, a year-on-year growth of nearly 15%, and the growth rate turned to positive from negative in the previous year. The larger growth in performance is mainly due to following factors.
(1) The launch of the new product reduced pig farms’ policy risks of using bovine FMD bivalent vaccine to prevent swine FMD previously, and the product has been highly accepted by the market. Jinyu Bio-technology got the production approval number of swine OA bivalent vaccine in July, and marketed the new product at the end of August (market guide price was 10yuan/dose) . The sales revenue of swine OA bivalent vaccine was close to 200 million yuan in September, which accounted for about 50% of the company’s total revenue in the third quarter. From the sales data in September, pig farms rapidly replaced bovine FMD vaccine products with swine OA bivalent vaccine, and the market acceptance of the new product was relatively high.
(2) The company’s customer group has a higher awareness of vaccine epidemic prevention, and the market promotion is comparatively easy. At present, only Jinyu Bio-technology and China Agricultural Vet Biology and Technology produce swine FMD OA bivalent vaccine in China. The customers of Jinyu Bio-technology are mainly large-scale farms who have a higher awareness of animal epidemic prevention, its products feature high quality, so the market promotion is easier. China Agricultural Vet Biology and Technology is mainly for small and medium-sized farms who are sensitive to price (its guide price is 11 yuan/dose), and there’s a certain difficulty in promotion.
The prevention of FMD is mainly conducted in spring and winter, and the fourth quarter is the peak season for selling FMD vaccine products. It’s predicted that Jinyu Bio-technology’s sales of swine FMD bivalent vaccine will keep high in the fourth quarter of 2018, and its annual sales revenue of commercial FMD vaccine is expected to exceed 1.3 billion yuan, a year-on-year growth of about 30%.