Public company info - Sanyuan Group Ltd. , 00140.HK
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Sanyuan Group Ltd., 00140.HK - Company Profile
Chairman
Share Issued (share) 954,000,000
Par Currency Hong Kong Dollar
Par Value 0.02
Industry
Corporate Profile Business Summary: The Group is principally engaged in pharmaceutical/ healthcare business. Business Review: During the year under review, the Chinese government continued to strengthen supervision over drug prices and expanded the scope of drugs under government-set pricing. As drug manufacturers and distributors in the PRC have to comply with the existing pricing caps in dealing with the regulated drugs, competition became stiffer and profit margins were inevitably narrowed within the pharmaceutical industry. In spite of the averse circumstances, the Group continued to distribute its existing products with resulted turnover increased to HK$215,185,000 which accounted for 100.0% (2007: 99.8%) of the total turnover of the Group. During the year, there were no material acquisitions and disposals of subsidiaries and associates. Prospects: The Group in the past participated as drug distributor in the PRC pharmaceutical market dispute the global financial crisis had enjoyed rapid growth of the industry. As the PRC pharmaceutical market is expected to grow continuously, the Group will continue to expand its operations in the pharmaceutical business. The management notes that the profit margins of the distribution of pharmaceutical products had been slightly improved. In order to improve the profitability of the Group and strengthen its competitiveness in the market, it is believed that the development and distribution of its own pharmaceutical products will be the long-term strategy for the Group to pursue. The Group is currently identifying various pharmaceutical products with potential to be invested and collaborating to ensure growth and improve profit margins. In addition, the Group has preliminary negotiation with a medical factory in PRC and after discussion with our Financial Advisor, we would plan to have cooperation and/or merger with the factory in order to expand our vertical integration both in product nature and turnover volume. Our resumption proposal was under progressed actively in final stage and target completion in early June 2009. We expect our plan would have positive effect in our future profit forecast. At the same time, the Company also solicits investors in making investments in and/or introducing new projects to the Group to assist its business to expand. Trading in the shares of the Company has been suspended at the request of the Company since 13 May 2004. According to Rule 13.24 of the Listing Rules, the Company should carry out, directly or indirectly, a sufficient operations or have tangible assets of sufficient value and/or intangible assets for which a sufficient potential value can be demonstrated to the Stock Exchange to warrant the continued listing of its shares. A proposal was submitted to the Stock Exchange to warrant the Company’s compliance with Rule 13.24. After reviewing the Company’s proposal, the Stock Exchange decided that the proposal was not viable. The Company has applied to the Court of First Instance have the decision of the Stock Exchange reviewed, on 4 June, 2008 the court ordered the decision of the Listing Appeals Committee of the Stock Exchange to reject the Company’s application for resumption of trading be quashed. The decision of the court is under appeal by the Stock Exchange. The Company is currently in the process of obtaining professional advice and discussing with its professional advisors on the appropriate actions to be taken by the Company to resolve the matter with the Stock Exchange in achieving the resumption of trading of its shares. Further announcement(s) will be made by the Company in respect of this matter as and when appropriate.

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