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| Results Achieved Steady Growth with Extension and Expansion as Driving Engine |
HONG KONG, Oct 27, 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 products and service markets, today released its third quarterly report of 2016. According to the data, from January to September 2016, Shanghai Pharmaceuticals' operating revenue was RMB90.517 billion (Unit: RMB, following the same), representing an increase of 14.52% on a YOY basis. Net profit attributable to the equity holders of the listed company was RMB2.457 billion, representing a YOY increase of 12.78%. Net profit attributable to the equity holders of the listed company after deduction of non-recurring profit or loss was RMB2.283 billion, representing a YOY increase of 11.13%, fulfilling earnings per share RMB0.9138, earnings per share after deduction of non-recurring profit or loss was RMB0.8490. From January to September 2016, the Company's net cash flow from operating activities was RMB1.310 billion, fulfilling the budget target for the third quarter of 2016.
For the aspect of pharmaceutical research and development, Shanghai Pharmaceuticals underwent systemization in research and development products and progressed smoothly in research projects in the third quarter of 2016. The Company increased 9 clinical trial approvals for five kinds of medicines, namely recombinant anti-CD20 humanized monoclonal antibody injection, Lacosamide API and Tablet, Ferric carboxymaltose API and Injection, sugammadex API and Injection, rabeprazole sodium, 1 approval for production of thyoidin as well as 2 clinical trial approvals for injectable recombinant anti-HER2 humanized monoclonal antibody composition and beclometasone dipropionate aerosol.
In respect of the pharmaceutical manufacturing business, from January to September 2016, Shanghai Pharmaceuticals achieved operating revenue of 9.396 billion in its pharmaceutical manufacturing business, representing a YOY increase of 5.76% and a gross profit margin of 52.21%, representing an increase of 2.48 percentage points as compared with the corresponding period of last year. The operating profit margin after deducting the costs of sales and administration was 13.50%, representing an increase of 0.71 percentage point as compared with the corresponding period of last year. In particular, sales revenue generated from its 60 key products increased by 6.98% on a YOY basis to RMB5.185 billion, accounting for 55.18% of the manufacturing sales. Average gross profit margin of key products was 69.11%, representing an increase of 1.72 percentage points as compared with the corresponding period of last year. Among the key products, there are 36 categories, the growth of which are higher than or equal to the same categories of IMS Health Inc.. 25 major categories are expected to record sales revenue of more than RMB100 million over the year.
In respect of pharmaceutical services business, from January to September 2016, Shanghai Pharmaceuticals achieved operating revenue of RMB81.302 billion in its pharmaceutical distribution business, representing a YOY increase of 16.44%, achieved a steady growth rate higher than the industry's average. The gross profit margin was 6.00%, representing an increase of 0.08 percentage point as compared with the corresponding period of last year. The operating profit margin after deducting the costs of sales and administration was 2.64%, representing a decrease of 0.09 percentage point as compared with the corresponding period of last year. The operating revenue from the pharmaceutical retail business amounted to RMB3.765 billion, representing a YOY increase of 7.42% and a gross profit margin of 15.44%, representing a decrease of 0.04 percentage point as compared with the corresponding period of last year. The operating profit margin after deducting the costs of sales and administration was 1.27%, representing a decrease of 0.04 percentage point as compared with the corresponding period of last year.
In respect of capital expansion, with purpose of tapping into health care industry and accelerating the progress of globalization, Shanghai Pharmaceuticals decided to acquire 60% equity of Vitaco Holdings Limited, a company listed on the ASX, with the consideration of RMB938 million by cash (for details, please refer to the Company's announcement). For expanding into the northeast market, enhancing the competitiveness and facilitating the business network layout thereof, the Company determined to acquire 60% equity interests of Harbin Yangpuyuhua Pharmaceutical Distribution Co., Ltd. by SPH Keyuan Xinhai Pharmaceutical Co., Ltd., a wholly-owned subsidiary of the Company. For the implementation of the business network layout in the southwest market of Shanghai Pharmaceuticals, the Company determined to acquire 70% equity of Yunnan Shanghai Pharmaceuticals Co., Ltd. by Shanghai Pharmaceutical Distribution Co., Ltd., a wholly-owned subsidiary of the Company. In response to the State's efforts to strongly develop traditional Chinese medicine and with an aim to offer better health care services for the public, Shanghai Traditional Chinese Medicine Co., Ltd., a wholly-owned subsidiary of the Company, based on the strategic position of "adhering to the strategy of development of the whole industrial chain of Chinese traditional medicine and priority on quality", established Leishi Traditional Chinese Medicine Center as a step entering into the Chinese traditional medicine healthcare investment and service areas, and, by the combination of famous doctors and renowned traditional Chinese medicine and decoction pieces brands, namely the combination of "skillful doctors and good medicine", created a new model for health service with the integration of the treatment and health preserving.
Topic: Earnings
Source: Shanghai Pharmaceuticals
Sectors: Daily Finance, BioTech, Healthcare & Pharm
http://www.acnnewswire.com
From the Asia Corporate News Network
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