Core Competency
Qizheng Tibetan Medicine’s net profit for the first half of the year is expected to increase by 329% to 355% year-on-year.
Release time:
2021-07-14 17:25
On the evening of the 13th, Qizheng Tibetan Medicine disclosed its preliminary announcement of its semiannual results. The company expects to achieve a net profit attributable to shareholders of the listed company of approximately RMB 949 million to RMB 1.007 billion for the first half of 2021, representing a year-on-year increase of 329% to 355%. Basic earnings per share are projected to range from RMB 1.7961 to RMB 1.9051.
Qizheng Tibetan Medicine disclosed that the company’s first-half performance saw a substantial year-on-year increase, primarily due to the public listing of Qingdao Baiyang Pharmaceutical Co., Ltd. (hereinafter referred to as “Baiyang Pharmaceutical,” stock code: 301015). Following the listing, the M&A fund established with the company’s participation, Tibet Qunying Investment Center (Limited Partnership) (hereinafter referred to as “Qunying Investment”), recognized gains from changes in fair value at market prices, thereby boosting the company’s earnings. The company accounts for this investment using the equity method. According to the agreement, this contributed approximately RMB 709.3171 million to Qizheng Tibetan Medicine’s net profit for the first half of 2021. This item constitutes non-recurring gains and losses. At the same time, since Qunying Investment’s gains from changes in fair value are significantly influenced by fluctuations in Baiyang Pharmaceutical’s secondary-market stock price, the company’s financial performance may experience certain volatility.
Reporting media: Shanghai Securities Journal · China Securities Network
Report link: http://ggjd.cnstock.com/company/scp_ggjd/tjd_bbdj/202107/4727381.htm
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