Stocks of Several Chinese IVD-related Companies Soars as Overseas demand for COVID-19 Test Spikes

Due to the substantial increase in overseas sales of the COVID-19 Test kit launched in 2021, many listed IVD companies estimate that their profits will surge in 2021.

Hotgen Biotech （688068.SH）

The demand for SARS-Cov-2 Rapid Antigen Test in countries and regions such as Europe and Southeast Asia increased significantly in 2021. As the SARS-Cov-2 Rapid Antigen Test kits of Hotgen Biotech have obtained BfArM certification and CE certification and other major economies for self-test registration/recording, it has driven the significant growth of the company's overseas SARS-Cov-2 Rapid Antigen Test revenue. In 2021, the net profit of Hotgen Biotech is expected to be CNY 2 billion to CNY 2.35 billion, an increase of 1684.65% to 1996.97% year-on-year.

Wuhan EasyDiagnosis （002932.SZ）

Due to the addition of more than 1,500 molecular diagnostic medical institution customers, and the substantial increase in overseas sales of SARS-Cov-2 Antigen Test, the net profit of EasyDiagnosis is expected in 2021 to be CNY 1.3 billion to CNY 1.5 billion, a year-on-year increase of 177.23% to 219.88%

Hybribio （300639.SZ）

In 2021, Hybribio continued to implement a number of COVID-19 Test projects and actively participated in the prevention and control of the COVID-19 epidemic, resulting in rapid business development. In 2021, the net profit of Hybribio is expected to be CNY 8 billion to CNY 8.6 billion, an increase of 120.59% to 137.14% year-on-year.

Nanomicro Technology（688690.SH）

In 2021，the sales of Nanomicro Technology is expected to be CNY 4.2 billion to CNY 4.5 billion in 2021, an increase of 104.89% to 119.52% year-on-year, and an expected net profit of CNY 1.68 billion to CNY 1.85 billion, an increase of 131.11% to 154.50% year-on-year. This growth is due to the development, pilot testing and scale-up production of the  monoclonal antibody biologics and other projects,  which drove a substantial increase in sales.