Cultural Heritage
In the first half of the year, Qizheng Tibetan Medicine achieved a revenue growth of approximately 28% year-on-year, and its net profit increased by more than 300% year-on-year.
Release time:
2021-08-26 17:26
On the evening of August 26, Qizheng Tibetan Medicine released its 2021 semiannual report. In the first half of the year, the company achieved operating revenue of 781.4726 million yuan, an increase of 27.69% year-on-year; net profit attributable to shareholders of the listed company reached 988.5984 million yuan, up 346.88% year-on-year; and earnings per share amounted to 1.87 yuan, representing a year-on-year increase of 347.61%.
Publicly available data shows that Qizheng Tibetan Medicine has experienced steady growth in net profit over the past decade. According to its semiannual report, the significant increase in profit under the equity method during this reporting period was primarily due to the IPO of Qingdao Baiyang Pharmaceutical, in which the M&A fund Tibet Qunying Investment Center (Limited Partnership)—a fund co-founded by the company—has invested.
Qizheng Tibetan Medicine is a pharmaceutical enterprise integrating Tibetan medicine research and development, production, and sales. It leverages modern scientific and technological innovation to develop traditional Tibetan medicines. Currently, the company holds 79 drug approval numbers, covering products for conditions in areas such as the musculoskeletal system, nervous system, digestive system, cardiovascular and cerebrovascular system, respiratory system, urinary system, gynecology, and pediatrics.
In the first half of 2021, in response to the performance challenges brought about by industry changes, Qizheng Tibetan Medicine continued to advance and deepen its strategic layout of “One Axis, Two Wings, and Three Supports.” On the one hand, while further expanding urban coverage and deepening channel penetration, the company actively promoted its digital marketing transformation, developed new media marketing strategies, boosted sales on e-commerce platforms, explored the O2O new retail model, and accelerated the promotion of sales at third-tier terminals.
On the other hand, we will step up efforts and improve the efficiency of launching new products across various therapeutic areas. We will strengthen organizational development and team execution through refined management, and boost team motivation by implementing diversified incentive programs. Through distinctive academic, brand, and cultural initiatives, we will continually expand and enhance our company’s brand influence, ensuring sustainable business growth and achieving steady performance improvements.
During the reporting period, the company stepped up its efforts and improved the efficiency of launching new products in various therapeutic areas, achieving steady growth in performance. Revenue from ointments and other dosage forms increased by 49.70% and 36.84%, respectively, compared to the same period last year, resulting in a corresponding rise in costs. Meanwhile, the company pursued diversified development strategies, boosting sales of health supplements, which saw a 100% increase over the same period. Additionally, revenue from external technical services provided by the company’s subsidiaries rose during this period, contributing to a 34.97% increase in other income.
Qizheng Tibetan Medicine stated that as the domestic epidemic situation eases, demand for treatments of common and chronic diseases will rebound. The company’s products primarily target these areas and are commonly kept at home as part of regular household medicine kits, ensuring stable long-term demand.
Reporting media: Securities Daily
Report link: http://www.zqrb.cn/gscy/qiyexinxi/2021-08-26/A1629977882389.html
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