A股申购 | 丹娜生物(920020.BJ)开启申购 自研侵袭性真菌病血清学早期诊断及其它病原微生物体外诊断产品

Core Viewpoint - Danah Biotechnology (920009.BJ) has initiated its subscription with an issue price of 17.10 CNY per share and a maximum subscription limit of 360,000 shares, reflecting a price-to-earnings ratio of 11.75 times, and is listed on the Beijing Stock Exchange [1] Company Overview - Danah Biotechnology specializes in the early diagnosis of invasive fungal diseases and other pathogen microbiological in vitro diagnostic products, recognized as a national high-tech enterprise and a key specialized "little giant" enterprise supported by the state [1] - The company has established a comprehensive production line and is involved in two projects funded by Tianjin's intelligent manufacturing special funds [1] Product Portfolio - The company’s self-developed products cover major clinical testing projects for invasive fungal disease serology, including the exclusive domestic products for testing Aspergillus galactomannan IgG antibodies and Candida galactomannan IgG antibodies [2] - As of June 2025, Danah's diagnostic products have entered over 1,300 medical institutions across 34 provincial administrative regions in China, including more than 1,000 tertiary hospitals, and are exported to various regions worldwide [2] Financial Performance - The company reported revenues of approximately 295 million CNY, 237 million CNY, 240 million CNY, and 116 million CNY for the years 2022, 2023, 2024, and the first half of 2025, respectively [2][3] - Net profits for the same periods were approximately 44.62 million CNY, 77.60 million CNY, 87.19 million CNY, and 49.96 million CNY [2][3] - The gross profit margins were 85.99%, 85.75%, 83.76%, and 63.38% for the respective years [3] Market Challenges - The company has faced a decline in revenue, with a year-on-year decrease of 19.78% in 2023, primarily due to a significant drop in emergency business revenue [3][4] - The proportion of overseas revenue has decreased to 2.38%, with emergency business product revenues dropping from approximately 135 million CNY to zero [4] - The average price of conventional business reagents has shown a downward trend, influenced by national healthcare cost control measures [4]