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Shanghai Pharma’s First-Quarter 2016 Results Released: Core Business is Promoted Steadily and Innovative Business is Launched for the Future

    Shanghai Pharma announced its first-quarter 2016 results today. According to the data, from January to March 2016, Shanghai Pharma recorded operating revenue of RMB 29.276 billion, with an increase of 16.52% on a year-on-year basis. The net profit attributable to the shareholders of listed company was RMB 889 million, with an increase of 21.29% on a year-on-year basis. The net profit attributable to the shareholders of listed company after deduction of non-recurring items was RMB 777 million, with an increase of 9.72% on a year-on-year basis. The earnings per share amounted to RMB 0.3308 and the earnings per share after deduction of non-recurring items amounted to RMB 0.2890. During the reporting period, the Company’s net cash flows from operating activities amounted to RMB 328 million. The Company achieved its first-quarter budget target.

    For the aspect of pharmaceutical research and development, in the first quarter of 2016, Shanghai Pharma obtained 10 clinical approval documents for Vortioxetine, Cabazitaxel, olanzapine fluoxetine capsules and Tofacitinib, and three recently submitted clinical applications for SPH1188-11, an innovative chemical drug of Category 1.1, were accepted.

    For the aspect of pharmaceutical manufacturing, in the first quarter of 2016, the pharmaceutical manufacturing sales revenue of the Company was RMB 3.163 billion, representing a year-on-year growth of 2.78%; the gross profit margin was 50.95%, representing a year-on-year growth of 2.36%; and the operating margin after deduction of SG&A Expenses was 12.81%, representing a year-on-year decline of 0.22 percentage point. 60 key products of the Company achieved sales revenue of RMB 1.628 billion with an increase of 10.17% on a year-on-year basis, representing 51.47% of the manufacturing sales revenues, and an average gross profit margin of 68.21%, representing a year-on-year growth of 1.09 percentage points. The number of key products with expected annual sales revenue exceeding RMB100 million will be 24. The top 5 products in terms of growth rate have an average growth rate of 93.88%, while the last 5 products have an average growth rate of -41.35%.

    For the aspect of pharmaceutical services, in the first quarter of 2016, Shanghai Pharma achieved the sales revenue of RMB 26.110 billion for the pharmaceutical distribution business, with an increase of 18.55% on a year-on-year basis. The gross profit margin was 5.99%, with a decline of 0.10 percentage point on a year-on-year basis. The Company recorded 2.62% operating margin after deduction of SG&A Expenses, with a decline of 0.09 percentage point on a year-on-year basis. For the aspect of pharmaceutical retail, Shanghai Pharma achieved the sales revenue of RMB 1.228 billion, with an increase of 9.91% on a year-on-year basis. The gross profit margin was 15.54%, with a decline of 0.70 percentage point on a year-on-year basis. The operating margin after deduction of SG&A Expenses was 1.36%, with an increase of 0.11 percentage point on a year-on-year basis.

    During the reporting period, in order to control core Chinese medicinal materials and improve the quality of Chinese patent drugs, Shanghai Traditional Chinese Medicine Co., Ltd. set up Shanghai Pharma (Liaoning) Ginseng Resource Development Co., Ltd. to engage in the scientific research, planting, processing and marketing of ginseng. In order to explore kidney disease haemodialysis service area, Shanghai Pharma set up SPH–Yisheng Medical Investment and Management (Shanghai) Co., Ltd. to carry out the nationwide layout of kidney disease haemodialysis centers. Shanghai Pharma Big Health Cloud Commerce Co., Ltd. (hereinafter referred to as “Shanghai Pharma Cloud Health”) completed the first round of financing with a total of RMB 135 million raised. Shanghai Yuepu Investment Center (Limited Partnership), which is part of SB China Capital, and Shengtai Investment Management Co., Ltd., which is part of Shanghai Charity Foundation, became the financial investors of Shanghai Pharma Cloud Health. After the capital increase, the registered capital of Shanghai Pharma Cloud Health increases to RMB 1.333 billion.

 

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