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Shanghai Pharma’s 2015 Results Released: the Operating Revenue Exceeds RMB 100 Billion for the First Time, Hitting Another Record High

    On March 18, Shanghai Pharmaceuticals Holding Co., Ltd., an integrated pharmaceutical company taking a leading position in both pharmaceutical manufacturing and distribution markets in China, released its 2015 Annual Report. According to the data, from January to December 2015, Shanghai Pharma recorded operating revenue of RMB 105.517 billion, with an increase of 14.20% on a year-on-year basis. The net profit attributable to the shareholders of listed company was RMB 2.877 billion, with an increase of 11.03% on a year-on-year basis. The earnings per share amounted to RMB 1.0699 and the earnings per share after deduction of non-recurring items amounted to RMB 0.9410, with an increase of 17.08% on a year-on-year basis. The Company achieved its annual budget target of 2015.

    For the aspect of R&D investment, the total investment of R&D expenses by Shanghai Pharma in 2015 was RMB 617.6908 million (excluding the investment in the construction of the Company’s pilot production base), representing 5.22% of the Company’s industrial sales revenue. Among them, 26.98% was invested in the research and development of innovative drugs, 23.46% was invested in the research and development of First-to-Market Generic Drugs and Generic Drugs and 49.56% was invested in the secondary development of existing products. The sales revenue of the developed new products was RMB 1.707 billion, accounting for about 14% of the Company's manufacturing sales revenue. Shanghai Pharma will continue to optimize its R&D system, improve R&D efficiency, strengthen R&D project approval and process management, start the construction of the information-based system of scientific research management in the Company, promote the implementation of project manager system and uplift R&D personnel’s motivation and overall project R&D efficiency. Shanghai Pharma will strengthen open cooperation, optimize R&D model, continue to promote the construction of the pilot production base that integrates the R&D, pilot scale test and industrial development of APIs and high-end preparations, and actively resolve the resource allocation bottlenecks in the course of R&D results industrialization.

    For the aspect of pharmaceutical manufacturing, the pharmaceutical manufacturing sales revenue of the Company in 2015 was RMB 11.824 billion, representing a year-on-year growth of 6.49%; the gross profit margin was 49.72%, representing a year-on-year growth of 1.49%; and the operating margin after deduction of SG&A Expenses was 12.44%, representing a year-on-year growth of 0.42%. 60 key products of the Company achieved sales revenue of RMB 6.79 billion with an increase of 12.52% on a year-on-year basis, representing 57.43% of the manufacturing sales revenue, and an average gross profit margin of 67.04%. The number of key products with annual sales revenue exceeding RMB 100 million reached 24. Shanghai Pharma will further focus on its chemical and biological drug strategy, key products and advantageous therapeutic areas, while seizing the historic opportunity featuring the national support of the development of the traditional Chinese medicine industry to build a brand-new whole industry chain model of traditional Chinese medicine. In addition, the Company will continue to optimize its R&D system, improve the contribution rate of new products, strengthen the core role of the Marketing Center, expand the breadth and depth of the “one strategy for one product” management, optimize the production layout, promote the Lean Six Sigma management, and accelerate the upgrade of manufacturing level.

    For the aspect of pharmaceutical services, Shanghai Pharma achieved the sales revenue of RMB 93.717 billion for the pharmaceutical distribution business, with an increase of 15.47% on a year-on-year basis. The gross profit margin was 6.02%, and the SG&A Expenses rate fell 0.12 percentage point on a year-on-year basis to 3.44%. The Company recorded 2.58% operating margin after deduction of SG&A Expenses, with an increase of 0.08 percentage point on a year-on-year basis. For the aspect of pharmaceutical retail, Shanghai Pharma achieved the sales revenue of RMB 4.795 billion, with an increase of 13.68% on a year-on-year basis. The gross profit margin was 15.64% and the operating margin after deduction of SG&A Expenses was 1.50%. In October 2015, Shanghai Pharma Cloud Health completed the integration of the DTP business platform and achieved the sales revenue of about RMB 606 million by the end of the year. In 2015, the DTP business covered 30 DTP designated pharmacies in 24 cities, achieving an annual sales revenue of RMB 2.478 billion. Next Shanghai Pharma will accelerate its business expansion in strategic regions, perfect its business network layout nationwide, vigorously develop the primary-level market and B2B business, strengthen industrial and commercial linkage and business model innovation, promote supply chain extended services and comprehensively improve the lean operation level along the supply chain, while consolidating its advantages in key regions. Moreover, the Company will, through internal optimization and external expansion, build online e-commerce platform and three-layer network offline with an effort to create a new pharmaceutical retail model characterized by online and offline integration. Meanwhile, Shanghai Pharma will foster new growth points of big health business, improve new eco model, and explore new business areas. The Company will strive to provide better O2O drug purchase experience and higher-quality and more convenient medical services to consumers, and realize a win-win result in terms of commercial value and social benefits.

 

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