神威药业

StockCode:2877InterimResults20110830QStockCode:287721.Overview2.FinancialHighlights3.BusinessOperation4.OutlookStockCode:2877StockCode:2877张家口Zhangjiakou,Hebei彭州Pengzhou,Sichuan4LargestChinesemedicineinjectionandsoftcapsulemanufacturerinChinaOver40medicinesareincludedintheEssentialDrugListShinewayModernChineseMedicinePark(Hebei):•GranulesWorkshop:Completed•InjectionWorkshop:Late2011•ExtractionWorkshop:Mid2012Completed2acquisitionsin2010:•ChinaShinewayPharmaceutical(Zhangjiakou)Co.Ltd.•SichuanKalitouPharmaceuticalLimitedStockCode:2877海南黑龙江吉林辽宁河北山东福建江西安徽湖北湖南广东广西上海河南山西内蒙古陕西宁夏甘肃青海四川贵州云南西藏新疆江苏浙江北京台湾Shijiazhuang(石家庄)Sichuan(四川)Pengzhou(彭州)Hebei(河北)BeijingLangfang(廊坊)Chengdu(成都)廊坊Langfang,Hebei张家口Zhangjiakou,Hebei彭州Pengzhou,SichuanZhangjiakou(张家口)(北京)石家庄Shijiazhuang,Hebei5StockCode:28776Turnover:RMB1,048million,increasedby12.0%Grossprofit:RMB698million;,increasedby7.2%GrossMargin:66.6%,reducedby2.9percentagepointProfitfortheyear:RMB439million;increasedby4.2%Earningspershare:grewfromRMB51centstoRMB53centsInterimDividend:RMB11centspershareFinancialOverview(1H2011)StockCode:2877StockCode:287720%27%27%25%8Turnover12%StockCode:28779RMB(Inmillions)1H20111H2010ChangeYear2010Turnover1,048.3936.212.0%2,038GrossProfit698.1651.07.2%1,435GrossMargin66.6%69.5%-2.9percentagepoint70.4%Profitfortheperiod438.5420.74.2%822EPS(RMBCents)535199DividendperShare(RMBCents)111140StockCode:287710RMB(Inmillions)1H20111H2010Year2010CashonHand2,007.92,152.72,349TradeReceivables10.516.77BillsReceivables420.1103.6264Inventories242.9145.5192TotalAssets4,154.43,526.03,972BankLoan---TotalLiabilities725.5606.6743NetAssets3,428.92,919.43,230BalanceSheetHighlightsStockCode:287711RMB(inmillions)Revenue%ofTotalRevenueProducts1H20111H2010Yr20101H20111H2010Yr2010Injections5925701,27557%61%63%SoftCapsules23820038623%21%19%Granules18415032817%16%16%Others3416493%2%2%Overall1,0489362,038100%100%100%ProductMixStockCode:287712GrossProfitincreasedby7.2%toRMB698millionGrossMarginreducedby2.9percentagepointto66.6%DecreasedbecauseofdirectmaterialscostsincreaseAttributablefactorsDirectmaterialcostsincreaseEconomyofscaleSlightchangeinproductmixBettercostcontrolHigherextractionrateHigherproductionyieldGrossMarginStockCode:287713June30,2011June30,2010Yr2010RMB(inmillions)%ofTurnoverRMB(inmillions)%ofTurnoverRMB(inmillions)%ofTurnoverDistributionCost124.611.9%13614.5%35017.2%AdminExpenses84.38.0%646.9%1979.6%R&DExpenses13.71.3%60.7%221.1%ExchangeGain/(Loss)(1.7)(7)2MajorP&LItemsStockCode:287714CapitalExpenditureCompletionDateExtractionWorkshopRMB350millionMid2012InjectionWorkshopRMB250millionLate2011CapitalExpenditurePlanStockCode:2877StockCode:28771645medicinesinregularproduction27prescriptionmedicines18OTCmedicinesOwnover180productionpermitsofmedicineformula45productsareincludedintheEssentialDrugList9productsare“StateProtectedChineseMedicines”4productsaredesignatedas“GoodQuality/GoodPrice”“Shineway”and“WuFu”areChinaFamousTrademarksProductPortfolioStockCode:287717QingKaiLingInjectionLargestsupplierinChina70%marketshareAprescriptionanti-viralmedicineIncludedintheNationalReimbursementListandEssentialDrugList(2009)A“Must-have”ChinesemedicineinemergencyroomsofChinesehospitalsSuggestedtreatmentsforhumanAvianFluandA-H1-N1flubyMinistryofHealthRecognizedasa“GoodQuality/GoodPrice”productContinuetotapintothelargemarketpotentialintheruralareasviatheEDLprogramShenMaiInjectionLargestsupplier(byvolume)inChina35%marketshareinChinaAprescriptiondrugfortreatmentofCardiovasculardiseasesIncludedintheNationalReimbursementListandEssentialDrugList(2009)SuggestedtreatmentsforhumanAvianFlubyMinistryofHealthLeveragethestrongbrandrecognitiontopenetratethenewgeographicareasContinuetotapintothelargemarketpotentialintheruralareasviatheEDLprogramCoreProducts(SalesofoverRMB100M)ShuXueNingInjectionAprescriptiondrugforcardio-cerebrovasculardiseasesStateadministrativeprotectiontillJan2012IncludedintheNationalReimbursementListRecognizedasa“Goodquality/GoodPrice”productWellreceivedbydistributorsandhospitalsStockCode:287718PediatricQingFeiHuaTanGranuleAnOTCdrugforchildreninfectedbyrespiratoryrelateddiseasesStateadministrativeprotectiontillJan2012IncludedintheNationalReimbursementListSubstantialgrowthpotentialsupportedbytheenlargedproductioncapacityandpromotionXinNaoQingSoftCapsulesLargestsupplierinChina90%marketshareinChinaAprescriptiondrugfortreatmentofCardiovasculardiseasesAtop10TCMoraldrugforCardiovasculardiseasesCompetitivepricing–lowestcostintermsofdailydosageCurrentlycoveredbyprovincialinsuranceCoreProducts(SalesofoverRMB100M)StockCode:28771,2752382003861841503285925701H20111H20102010OthersGranulesSoftCapsulesInjectionRevenuebyProduct17.5%22.7%56.5%16%21%61%16%19%63%19StockCode:28778503123387622952211814413771H20111H20102010OthersAnti-viralCardiovascular28.1%29.8%42.1%24%36%40%21%37%42%RevenuebyType20StockCode:28771,6312144077867222621H20111H20102010OTCPrescription75%25%77%23%20%80%Revenue21StockCode:2877229projectsofnewproductsunderdevelop