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| Core Businesses Achieved Steady Growth; Business Innovation Enhanced the Achievement of Future Strategic |
HONG KONG, Apr 29, 2016 - (ACN Newswire) - Shanghai Pharmaceuticals Holding Co., Ltd. ("Shanghai Pharmaceuticals" or the "Company" and, together with its subsidiaries, the "Group"; stock code: 601607.SH; 2607.HK), the integrated pharmaceutical company in the PRC that has leading positions in both pharmaceutical product and service markets, today released its first quarterly report of 2016 (the "reporting period"). According to the data, from January to March 2016, Shanghai Pharmaceuticals recorded operating revenue of RMB29.276 billion, with an increase of 16.52% on a YOY basis. The net profit attributable to the shareholders of listed company was RMB889 million, with an increase of 21.29% on a YOY basis. The net profit attributable to the shareholders of listed company after deduction of non-recurring items was RMB777 million, up by 9.72% on a YOY basis. Basic earnings per share amounted to RMB0.3308 and basic earnings per share after deducting non-recurring profits and losses were RMB0.2890. During the reporting period, the Company's net cash flows from operating activities amounted to RMB328 million. Shanghai Pharmaceuticals fulfilled the budget target for the first quarter of 2016.
For the aspect of pharmaceutical research and development, Shanghai Pharmaceuticals achieved 10 clinical trial approvals for 4 kinds of medicines, namely Vortioxetine Hydrobromide (API & Tablets), Tofacitinib Citrate (API & Tablets), Cabazitaxel (API & Injection) and Olanzapine and Fluoxetine Hydrochloride Capsule. 3 clinical trial applications of SPH1188-11, class 1.1 chemical drug were accepted.
In pharmaceutical manufacturing business, the Company achieved operating revenue of RMB3.163 billion in the first quarter of 2016, representing a YOY increase of 2.78% and a gross profit margin of 50.95%, representing a YOY increase of 2.36 percentage point. The operating profit margin after deducting SG&A expenses was 12.81%, representing a YOY decrease of 0.22 percentage point. In particular, sales revenue generated from 60 key products increased by 10.17% on a YOY basis to RMB1.628 billion, accounting for 51.47% of the manufacturing sales. The average gross profit margin of key products was 68.21%, representing a YOY increase of 1.09 percentage point. 24 major categories of key products were expected to record sales revenue of more than RMB100 million over the year, the average growth rate of the top five fastest growing products is 93.88%, while that of the bottom five is -41.35%.
In respect of pharmaceutical service business, the operating revenue of Company's pharmaceutical distribution business was RMB26.11 billion in the first quarter of 2016, up by 18.55% on a YOY basis, the gross margin was 5.99%, a YOY decrease of 0.10 percentage point, and the operating profit margin after deducting SG&A expenses was 2.62%, representing a YOY decrease of 0.09 percentage point. During the reporting period, the operating revenue of the Company's pharmaceutical retail business was RMB1.228 billion, grew 9.91% on a YOY basis, the gross margin was 15.54%, declined 0.70 percentage point, the operating profit margin after deducting SG&A expenses was 1.36%, up by 0.11 percentage point as compared to last year.
During the reporting period, in order to control core resources of traditional Chinese medicines, enhance the quality of Chinese patent medicines, Shanghai Traditional Chinese Medicine Co., Ltd established Shanghai Pharmaceutical (liao ning) Ginseng Resources and Development Co., Ltd, which engaged in scientific research, cultivation, processing and sales of ginseng. In order to extend the hemodialysis services area, Shanghai Pharmaceuticals established Shanghai Yisheng Medical Investment Management (Shanghai) Co., Ltd, to carry out national layout of hemodialysis centers. Shanghai Pharmaceuticals e-Commerce Company completed A+ round funding of RMB135 million, introduce Shanghai Yuepu Investment Center (Limited Partnership) controlled by SBCVC, and Shanghai Shengtai Investment Management Co., Ltd., wholly owned by Shanghai Charity Foundation, as financial investors. Upon the completion of capital injection, the registered capital of Shanghai Pharmaceuticals e-Commerce Company reaches RMB1.333 billion.
Topic: Press release summary
Source: Shanghai Pharmaceuticals
Sectors: Daily Finance, BioTech, Healthcare & Pharm
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From the Asia Corporate News Network
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