Category: Money tips Release Date: 2006-12-18
Winbond Pharmaceutical Co., Ltd. in Chongqing, formerly known as March 1992, Chongqing was established Winbond Biochemical Technology Co., Ltd., in June 2004 issued 2,200 million shares listed in the small board. Since its establishment in 1992, at the beginning, in order to achieve competitive advantage in the market and adopted a "small area, big market" industry positioning, positioning itself as dermatology, tuberculosis, and other areas of expertise within the Division of professional production enterprises, have chosen to Psoriasis pharmaceutical market and other skin cell dysfunction in type-based dermatology pharmaceutical market, and gradually to the anti-allergy, anti-fungal, hormones, and other varieties of expansion strategy.
Retinoic acid as the company developed new products to market, gross margins increase steadily, from 2001 68% to 2005 77%; net profit steady growth in 2002 net profit of 3700 million in 2005 net profit of 5250 million, four-year average annual compound growth of 14%.
R & D will drive the company's products from a small-capacity high-volume market, the market stretches. Anti-allergy medication, 2006, sales of heavy volume, sales are expected to over 50 million yuan in the next one to two years is expected to become the company's first Guoyi species. The company also listed on the country a kind of exclusive varieties of Biliang antifungal drugs (Naftifine ketoconazole), listed on the hormonal drugs Liyan Li (triamcinolone econazole). Larger market size of products is expected to change the company's growth trajectory. After the company's net profit growth in 2007 is expected to reach 20%.
Rich product reserves will support the company's long-term growth. Currently under development, development of new drugs to reach more than 20 involved psoriasis drug, anti-keratinizing unusual dermatosis drugs, antifungal drugs, steroid hormone medicines, anti-tumor, anti-TB drugs, hypolipidemic drugs, stomach gastrointestinal motility drugs, sedative-hypnotics, immune regulation medicines and many other species or areas.
According to our earnings forecasts, the pharmaceutical 2006,2007 Winbond year earnings per share were 0.41,0.47,0.56 yuan, an increase of 2.5%, 15%, 20%, forecast price-earnings ratio for the 18,16,14 times, to give overweight The investment rating.
