Category: Money tips Release Date: 2006-05-18
Source: United Securities
The main purpose of today's super clear tape Xianyihouyang, morning mass sell into the role of non-ferrous metals, the stock had a sharp adjustment, but the market in the financial, real estate re-strengthened the role of the two plates, the two cities bigger losses narrowed After repeated shocks, the re-strengthening of the uplink, the closing session closed red. File under short-term moving average and continuing upstream Tongdaoxiagui month at The apparent strength of the support.
Disk of view, banking stocks as a whole appears stronger in the afternoon, real estate, Olympics, science and technology subjects such as pre-hot plate oversold bounce. G man G Northeast Fort Worth drugs rose also led to stronger medicine plate. At this point the depth of excavation pharmaceutical fundamentals of listed companies, from which to see a number of strong continuous substantial growth potential companies, China's current rapid growth of Chinese Herbal Pieces market capacity, while the industry leader G Kang America (600,518) in the Guangdong area hospital market its space is particularly large, is located in Guangdong, the company faced with such an external development opportunities, and more recently, a shortage of investment in the production of new drugs, separate ways capital moved there
Pieces in Guangdong Province's largest enterprise, the next three years will maintain a high growth
Hong Mei drug industry, including owners of chemical medicine, Chinese Herbal Pieces, medicine distribution of three parts. Company Off the beaten track, from the chemical industry, successfully entered the Chinese Herbal Pieces drug industry, quickly becoming one of the leading enterprises, and plans to scale of production expanded from the current 3,000 tons to 11,000 tons. Industry insiders estimate that the United States the next three years, G Kang is expected to maintain more than 30% of its growth.
Pieces of Chinese medicine company to face a better external opportunities: on the one hand, China's Herbal Pieces more than 300 billion big market capacity, the industry growth rate of more than 25%, the company focus on the development of the hospital market in Guangdong Province there is a huge expansion of space; another , the state will be packaged, GMP, approval number and industry support the advantages of access to enterprise development, and gradually standardize enterprise behavior Pieces of Chinese medicine.
Pieces project is currently in a company's production of two shifts, production capacity reached 175 million, but still can not meet the market demand. Phase II construction project has been implemented, is expected to 2007,2008 to two years, new capacity 1.8,4.2 billion. In addition, the company actively Pieces product structure adjustment and high-margin gift with the soup and other downstream product development, Pieces overall gross margin is expected to make improvements.
Pieces of Chinese medicine company has its unique advantages: You can magnify Guangdong Provincial Hospital, and other famous Chinese medicine hospitals, to create high-quality Pieces brands; located in the Puning can make use of Chinese herbal medicine distribution center strengths to reduce procurement costs; procurement, production, distribution center operations will be integrated improve operational efficiency; company executives long-term perspective, efforts to establish a Chinese Herbal Pieces industry standards.
Since listing on the fine-grown business development strategy, that is gradually abandoning prior to 1998 production and sales of generic drugs production and sales of old products and concentrate the company's resources to develop high value-added Murray Le Kang, Kang America kenosha, Hong Mei Luo-Xin-Ping three new varieties of products and follow-up to the expansion of production and sales. These three drugs are hardly is a monopoly product, but after in-depth market development, Tetra Pak, kenosha highest sales were 8,000 million yuan, network with nearly 60 million yuan Yan-ping, which for the regional imitation drugs in terms of sales is pretty good sales records, showing the company's strong marketing capabilities. In addition to these three varieties, the company has in 2005 launched a second-class drug propiverine hydrochloride, which is still cultivated variety stage, but grew very fast, listing the year to achieve more than 750 yuan sales revenue is expected that the species in 2006 Sales could reach 2500 million.
G Kang America net sales in Jieyang regional hospital status of the gradual formation of oligopolies. At present, the Guangdong Provincial Health Department is brewing in the reform of medical institutions by a single drug procurement tenders for government-led unified joint tender plans introduced in 2007 to promote, G Kang America because it is the largest hospital in Jieyang net sales team, we expect The implementation of the policy is expected to further strengthen the company's regional net sales oligopoly position.
Company's current outsourcing business of "doing a good job to be done quickly" strategy, the future is not the pursuit of scale but to maintain business profitability. At the same time outsourcing business for the company's marketing network-building a lot of accumulation of bedding, the company benefited from the self-produced varieties of commercial channels, making selling expenses be effectively controlled to ensure a high level of profitability.
In our view, G Kang America are pure sales position will be strengthened oligopolistic circumstances, the company the scale of procurement is expected to further increase the level of outsourcing business gross margin and net interest margin is expected to be stable, the next three years, the profit contribution of outsourcing business will also be the steadily.
In October 2003, Hong America Pharmaceutical took the lead in traditional Chinese medicine production base in Pieces by the State Food and Drug Administration of Chinese Herbal Pieces (including toxic Pieces) GMP argues, is the first batch of Chinese Herbal Pieces GMP certification, one of three experimental units, and in in January 2004 was named "Food and Drug safety project in Guangdong Province demonstration base."
Kang Pieces of Chinese medicine in the United States National Institute of Standards and compliance system, grab the first move. Undertaken by the United States, Guangdong Province, Kang Chinese Herbal Pieces engineering and technology research and development centers will bear more than 120 kinds of Pieces of the establishment of national standards system work. Standard system is established, health beauty products to the national standard products as the first to enter the market; In addition, as a national standard setters, Kang America can be to other enterprises to set up a high technical threshold.
Kang America Pharmaceutical has a certain brand. At the same time, the company also pays attention to advertising, academic promotion brand.
Kang goal of the next few years the U.S. pharmaceutical market is the South China market, guarantee the Guangdong Provincial Hospital and other long-term stability under the premise of the important customer needs, they began to seize, Foshan, Nanhai, Shenzhen, Zhongshan and other places Chinese medicine hospital market, and will actively explore the In the southern China market, China will gradually convert the first-mover advantage of a stable customer advantages.
Companies spend lots of money from outside experts hired by the old line to guide the production process to ensure the quality of the Pieces; while the Guangdong Provincial Hospital in order to ensure drug quality, presence of expert on-site checks of the quality.
To save costs, many manufacturing enterprises Pieces without packaging, and Kang-American Herbal Pieces for small packages, broken down many of the weight class, the packaging for each weight class are different colors to facilitate the hospital pharmacy dispensing duties of officers.
Pieces price from the U.S. pharmaceutical and hospital health monthly price adjustment according to traditional Chinese medicine, has not markedly improved in comparison with their peers, while the variety is complete, with a qualitative edge.
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To facilitate the procurement of medicines. Company is located in Puning City, Guangdong Province, the local people since the Ming and Qing dynasties, there has been the habit of planting Chinese herbs, rich in more than 400 kinds of medicinal herbs. Puning market for Chinese medicines with only one across the street, Puning Chinese herbal medicine Chinese herbal medicines market is the country's 17 distribution markets in the world, the annual trade turnover of more than 1 billion yuan. In July 1996, Puning Chinese medicinal herbs market was among the first eight countries have ratified the country designated as one Chinese medicinal herbs market. In addition, the company through legal means to ensure the procurement staff and clients of the normal trading.
Has a strong marketing network, the company's current marketing staff, more than 200 offices in key cities such as Beijing, Shanghai, Guangzhou, Shenzhen, Changsha, Wuhan, Fuzhou, Nanjing and other places set up offices and workstations; In addition, the company relying on high-quality products and services, has won the trust of many medical institutions, with established good relations of cooperation.
Operation and management capacity of America's leading review and Sport Medicine from the chemical drug production to Chinese Herbal Pieces manufacturing history, we can not help but admire the U.S. Pharmaceutical business health management capacity of the strong. Pieces of Chinese medicine is a real production company in 2002, while in 2003 and quickly became the first GMP certification by one of the three, is the only one in Guangdong Province, and bear more than 120 kinds of Pieces of the establishment of national standards system work, In 2005, Pieces of Chinese medicine has been awarded a national first in the top five.
We believe that with the Sport America Pharmaceutical productive private enterprise mechanisms. Pieces in Guangdong enterprises in all, 60% concentrated in the Pearl River Delta, 95% for private or joint-stock enterprises. Kang America Pharmaceutical main market is the Pearl River Delta, and can become a regional leader, marketing and management capabilities should be the primary factor.
The new production of new drugs, is expected by year-end earnings rose more than 50%
Tibet opened to traffic, and to an increase of tourism in Tibet, but most people go to Tibet Rhodiola to be like taking the anti-altitude sickness drug. And China's population will enter a peak period of old age, cardiovascular disease increased year by year. G Kang America (600,518) keen to capture the benefits of new growth point, are intended investment is not more than 80 million yuan and 4000 million for the development of traditional Chinese medicine and Chinese medicine and a class of drugs Rhodiola drug toxicity Category II heat level, and said two a huge domestic market demand for new drugs, the market prospect is broad.
G Kang America decided to invest in the development of Chinese medicine is not more than 80 million yuan a class of drugs Rhodiola project, the product for the treatment of Chest Pain (angina pectoris) and other cardio-cerebral vascular diseases, as well as for anti-aging, anti-tumor, enhance immunity , sub-health care, with its raw material medicine Rhodiola for large strains, including the number of clinical oral and injection formulations.
It is reported that refers to the Crassulaceae Rhodiola Rhodiola species, is one of China's traditional medicinal plants are currently known main active ingredients of Rhodiola Rhodiola glycosides and their aglycones, as well as diphenyl methyl piperidine. Modern medical research shows that Rhodiola has anti-cold, anti-anoxia, anti-fatigue, anti-microwave radiation, anti-aging, anti-tumor and anti-drug and other physiological, pharmacological effects and showed a bi-directional regulatory role, but also a environment to adapt to drugs, in the pharmaceutical industry and food industry and has broad prospects for the development of application development.
G Kang Mei said that with the basis of pharmacology, drug analysis and the associated extraction and separation technology and breakthrough, Chinese medicine research and development of new drugs in various dosage forms are more and more concerned about the new Chinese medicine will be the advantages of market development projects. Company will give full play to the industrialization of Chinese Herbal Pieces, based on research and development of a proprietary Chinese medicine with new products, improving product technology content.
At the same time, G Kang The United States also plans to invest no more than 40 million yuan development of traditional Chinese medicine drug drugs rzepin second-class items, the products are mainly used to treat respiratory infectious diseases. Injection drug rzepin by baicalin, gardenia, breviscapini and acid taste of drugs such as refined four Chinese herbal compound made of injection, according to TCM theory "toxic lung damage envelope" sick machine theory, combined with modern medicine, infection of the respiratory disease pathogenesis and treatment of research results, with the development made, with Qingreliangxue, Effects of JieDuTongLuo the effect.
It is learned, G Kang formula this project comes from the United States national "973" study on the subject of Quxie centralizer Prescription Qing Kai Ling Injection in-depth study results. Project will not only study the Qing Kai Ling Injection major factor in adverse reactions, and further optimize the composition and the compatibility of anti-inflammatory preparation process, while the formation of various medicinal herbs and finished fingerprint quality control methods.
Is expected in 2006, by the company's production and sales of Chinese Herbal Pieces extended to the downstream high-end gifts soup Pieces Pieces and mass effect, we expect the company's net profit contribution of business from Chinese Herbal Pieces 3,060 million yuan to 2005 million in 4200-4600. In 2005, the company "Chinese Herbal Pieces high-tech industrialization demonstration projects" included in the national high-tech industry specific programs, access to state subsidies paid 10 million yuan this year.
Chinese medicine has the growth industry, defense and non-cyclical characteristics determine its quite a long time have become the market investment. Company's current main business, including Western agents, Chinese herbal pieces, as well as pharmaceutical sales agent three business. Western preparations America Ganluoxin Ping Kang Kang Kang Mei Mei kenosha and Tetra Pak-based, is the company's three main product, while the company is currently the highest level, producing the greatest variety of traditional Chinese medicine production bases Pieces. Pieces of China Traditional Chinese Medicine more than 300 billion big market capacity, the industry growth rate of more than 25%, the company leveraging China's largest Chinese medicine hospital in Guangdong Chinese Medicine Hospital brand, and strive to foster a Chinese Herbal Pieces industry standards. Company had just 6,000 million new shares to raise additional funds will be used for two projects, total investment of 399 million, is put into production the production of high-grade Chinese Herbal Pieces 80 million tons, increasing sales income 5 million yuan, profit and tax of 118 million can be added. The company's drug production, wholesale and retail business are through relevant GMP, GSP certification. Capacity bottlenecks in the settlement, after their performance in 2006 is expected to receive a substantial increase in the median line with good investment value.
Institutions have Masukura, the outbreak of the imminent
Companies have scale advantages in business, cost advantages, efficient distribution strengths and the advantages of standard-setter, business profits are strong, but with sustained and rapid development capabilities, post-marketing agency has been concerned about the China Galaxy Securities largest holding 506 shares, of the total share capital of 3.18%, 4.6% of outstanding shares. Is worth noting that, Kang America Pharmaceutical IPO books published by additional disclosure, Kang also received strength of the U.S. pharmaceutical sector favor of the Department of Baoshan Iron and Steel, as of July 6, 2006, Shanghai Baosteel equipment testing company, Shanghai Baosteel Group Corporation, Shanghai Baosteel Group Engineering Technology Co., Ltd. holds 189 thousand shares of their own health conditions for the U.S. Pharmaceutical sell unlimited shares outstanding. Agency optimistic about its room for growth beyond doubt.
The stock shock has been up since July, generous common intraday trading, big money often concerned about the obvious signs. Wen is currently stationed in 20 day, upward intention was obvious.
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