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Shanghai Pharmaceuticals Records over 13.5% Increase in Operating Revenue in 3Q2013

Maintains Steady Growth Through Proactive Response to Pharmaceutical Market Changes

 

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 distribution markets, today announced its third quarterly results for the nine months ended 30 September 2013 (the "reporting period").The Company recorded an operating revenue of RMB 58.058 billion, representing an increase of 13.51% as compared with the same period last year. Net profit attributable to shareholders of the parent company after deduction of non-recurring profit or loss was RMB 1.578 billion, representing an increase of nearly 10% as compared with the same period last year. In particular, during July to September 2013, the Company recorded an operating revenue of RMB 19.34 billion, up by 10.35% on a YOY basis, while net profit attributable to shareholders of the parent company was RMB 488 million, up by 22.29% on a YOY basis.

 

During the reporting period, Shanghai Pharmaceuticals promoted the establishment of a professional team emphasizing on learning and working for the same goal in accordance with the development plan for the following three years (years ending 2013 to 2015) revolving around the core values of "innovation, integrity, cooperation, tolerance and responsibility". The Company also took a proactive stance to respond to changes in the pharmaceutical market and embarked on different tasks to make significant progress in meeting our target budgets.

  

Steady growth in core business

  

Data show that during January to September 2013, the pharmaceutical manufacturing business of Shanghai Pharmaceuticals generated operating revenue of RMB 8.088 billion, representing a growth of 10.13% on a YOY basis and gross profit margin of 46.90%. Among which, 64 key products racked up sales revenue of RMB 4.688 billion, up by 15.81% on a YOY basis and accounting for 57.96% of the manufacturing sales revenue. Average gross profit margin reached 62.76% and key products with sales revenue surpassing RMB 75 million amounted to 21; the average growth rate of the top five products was 44.82%. With respect to the medical service business, pharmaceutical distribution business recorded operating revenue of RMB 50.268 billion, representing a growth of 14.43% on a YOY basis and gross profit margin of 6.14%. Pharmaceutical retail business realized operating revenue of RMB 2.248 billion, up by 9.83% on a YOY basis and gross profit margin of 19.61%. Shanghai Pharmaceuticals also gained wide recognition during the first three quarters of the year, among the "2013 China Top 500 Enterprises List" released by China Enterprise Confederation, Shanghai Pharmaceuticals lands in the 169th position on the 2013 China Top 500 Enterprises List and ranks 78th on the China Top 500 Manufacturing Enterprises List. On the 2013 China Top 100 Listed Companies List jointly published by China Listed Company Development Center, China International City Development Center, www.phb168.com and Southern Entrepreneur Magazine, The Company scoops the accolades of "2013 China Top 100 Listed Companies in Comprehensive Strength" and "2013 China Top 100 Listed Companies in Investment Value". The Company also ranks 76th on the 2013 China Top 500 List published by FORTUNE China.

  

During the fourth quarter, Shanghai Pharmaceuticals will steam ahead to implement various key tasks and ensure that the annual operating budget target will be achieved.

 

Building the expansion platform for international business

 

Shanghai Pharmaceuticals announced on the same day that the Company has decided to acquire 100% equity of China International Pharmaceutical (Holding) Corporation Limited (hereinafter: China International) from Shanghai Pharmaceutical (Group) Co., Ltd., a controlling shareholder. Upon the completion of this acquisition, China International will become the expansion platform for the international business of Shanghai Pharmaceuticals, which will be beneficial to the unification and centralization of the import and export businesses of the Company. In addition, the Company can fully leverage on the domestic and overseas strengths which is in line with the international development strategy of Shanghai Pharmaceuticals.

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