Qizheng Tibetan Medicine’s net profit for the first half of 2023 increased by 34.41% year-on-year.

Release time:

2023-08-25 10:50

On August 25, Qizheng Tibetan Medicine released its 2023 semiannual report. In the first half of the year, the company’s operating revenue reached 830 million yuan, a decrease of 7.48% compared to the same period last year. Net profit attributable to shareholders of the listed company amounted to 312 million yuan, an increase of 34.41% over the same period last year. Basic earnings per share were 0.5893 yuan, up 34.64% from the same period last year. Total assets stood at 6.497 billion yuan, representing a 10.37% increase from the end of the previous year, further expanding the company’s asset base.

The report shows that Qizheng Tibetan Medicine's revenue composition is as follows: the pharmaceutical industry accounts for 98.87%, while other sectors account for 1.13%.

Qizheng Tibetan Medicine is a leading modern Tibetan medicine enterprise. Its core business encompasses the research and development, production, and sales of Tibetan medicines, including topical pain-relief products, oral Tibetan formulations, and traditional Chinese medicines. The company holds 141 approved drug registration numbers, with 25 exclusive products at its core—such as Xiaotong Paste and Bai Mai Ointment—and among these, 60 are over-the-counter (OTC) products and 3 are classified as state-secret technologies (secret level). The company is committed to both preserving and innovating traditional Tibetan medicine, exploring pathways for the modernization of Tibetan medicine, and building an industrialized platform for the innovative development and manufacturing of modern Tibetan medicines.

While strengthening its position in pain relief and striving to become the leading brand in the topical pain relief sector, the company is further expanding its product portfolio across seven key therapeutic areas—respiratory, dermatological, pediatric, gynecological, digestive, cardiovascular & cerebrovascular, and neurological—guided by clinical value. With the mission of "Promoting Health Wisdom and Creating Life Value," the vision of "Becoming a Superlative, Sustainably Developed Enterprise Covering the Entire Tibetan Medicine Industry Chain," and the strategy of "Dual-Engine Drive, Dual-Wing Leadership, and Dual-Foundation Assurance," the company is pursuing a path of comprehensive multi-product marketing and the modernization of Tibetan medicine. By continuously reinforcing its core competencies—including established brand strengths, product advantages, marketing expertise, R&D capabilities, and resource endowments—the company is committed to achieving its strategic goal of becoming "the No. 1 in topical pain relief products and the No. 1 in the Tibetan medicine market."

During the reporting period, the company donated a total of 3.214 million yuan and continued to implement six projects in areas such as education-based poverty alleviation, health-based poverty alleviation, and special poverty alleviation initiatives, including supporting Tibetan traditional medicine folk education, providing student aid, offering free health consultations, and providing assistance for serious illnesses. These projects are dedicated to charitable and public welfare endeavors in western regions including Tibet, Qinghai, and Gansu.

Reporting media: China Business News

Report link: http://www.cbt.com.cn/cj/cj/202308/t20230825_195129.html

Pioneering a New Chapter in Omnichannel Marketing for Multiple Products: Qizheng Tibetan Medicine Sees 34.41% Growth in Net Profit for the First Half of the Year

Qizheng Tibetan Medicine ranked 29th on the “2022 China Top 100 Chinese Materia Medica Enterprises List.”