Qizheng Tibetan Medicine’s net profit grew by 23% in 2023, and it plans to distribute a cash dividend of 4.8 yuan for every 10 shares held.

Release time:

2024-04-20 10:16

On April 19, Qizheng Tibetan Medicine disclosed its 2023 annual report, reporting operating revenue of 2.045 billion yuan and net profit attributable to shareholders of the listed company of 581 million yuan, an increase of 22.99% year-on-year. The company proposes to distribute a cash dividend of 4.8 yuan (including tax) for every 10 shares held by all shareholders.

2023 marked the inaugural year of Qizheng Tibetan Medicine’s “Dual-Drive, Dual-Leading, Dual-Foundation” strategy, as the company embarked on a new phase of comprehensive, multi-product marketing. On one hand, the company’s diversified product portfolio offers patients integrated pain management solutions. On the other hand, guided by clinical value, the company is further expanding its product clusters into seven key therapeutic areas: respiratory, dermatological, pediatric, gynecological, digestive, cardiovascular, and neurological. Overall, the company continues to maintain strong growth momentum and has further enhanced its industry standing. In the “2022 Top 100 Chinese Traditional Chinese Medicine Enterprises Ranking” released by Minenet, the company ranked 29th, up three places from the previous year. Additionally, the company was listed on the “2023 Health Industry Brand Value List” compiled by the China Pharmaceutical Industry Association, with a brand value of 2.87 billion yuan.

During the reporting period, the company further consolidated its market share of its core product, Xiao Tong Tie Gao (Pain-Relieving Patch); it also established a cluster of retail OTC (over-the-counter) products. In response to seasonally prevalent diseases, the company promoted Qing Peng Ointment for its therapeutic advantages in treating conditions such as dermatitis, eczema, gout, and joint and muscle pain. Among key products, Shi Wei Long Dan Hua Capsules/Granules demonstrated steady growth during the reporting period, thanks to their remarkable efficacy in clearing heat, resolving phlegm, relieving cough, and easing asthma. Additionally, Hong Jing Tian Oral Liquid—a nationally approved pharmaceutical product indicated for altitude sickness—exhibited impressive growth during the reporting period.

In 2023, Qizheng Tibetan Medicine invested 99 million yuan in R&D, an increase of 14.86% over the previous year. The national key special project “Modernization Research on Traditional Chinese Medicine” under the Ministry of Science and Technology’s 13th Five-Year Plan—titled “Demonstration Development Study on the Treatment of Baimai Disease, a Major Tibetan Medical Condition, Using the Classic Tibetan Medicines Ruyi Zhenbao Tablets and Baimai Ointment”—passed the national acceptance with a high score of 88 points, setting a benchmark for innovation in the development of ethnic medicines. As of the end of the reporting period, the company held a total of 148 patented technologies, including 130 invention patents.
The company also released the “Qizheng Tibetan Medicine 2023 Corporate Social Responsibility Report and Environmental, Social, and Governance (ESG) Report.” This marks the 15th consecutive year that Qizheng Tibetan Medicine has published a corporate social responsibility report. (Tian Limin)

Reporting media: Shanghai Securities Journal·China Securities Network

Report link: https://ggjd.cnstock.com/company/scp_ggjd/tjd_bbdj/202404/5221101.htm

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