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Public company info - Trauson Holdings Co. Ltd. , 00325.HK
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Trauson Holdings Co. Ltd., 00325.HK - Company Profile
Chairman Ramesh Subrahmanian
Share Issued (share) 774,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Medical Equipment & Services
Corporate Profile Business Summary: The Group is a leading producer of orthopaedic products in China. The Group design, manufacture and sell a broad range of trauma and spine orthopaedic implants and related surgical instruments. According to a market research conducted by China Orthopaedics and commissioned by The Group, The Group was the largest producer of trauma products, and one of the top three producers of spine products, among the PRC orthopaedic product manufacturers in 2009 in terms of market share. Performance for the year: The revenue for the year ended 31 December 2011 increased by approximately RMB94,099,000 or 32.37% to RMB384,841,000 as compared with RMB290,742,000 for the year ended 31 December 2010. The increase was primarily attributable to the growth in sales of trauma and spine products. BUSINESS REVIEW： a) Sales Analysis Trauma products, spine products, OEM products and other products are the major products sold by the Group. During the period, revenue from trauma and spine products grew markedly by 33.00% and 75.93%, respectively, while revenue from other products also grew notably by 53.98%. Sales of OEM products however declined slightly by 1.11% due to the internal restructuring of the OEM customer and the depreciation of the US Dollar against RMB during the year. The overall growth in revenue for the year ended 31 December 2011 was 32.37% when compared to the corresponding period of 2010. b) Production and Operation The Group currently has three locations for its production facilities which are owned and operated by two wholly-owned operating enterprises, namely Trauson China and Changzhou Orthmed. c) Research and Development: For the year ended 31 December 2011, the Group completed the development of 12 new products, which had been approved by the SFDA. During the year 2011, the Group obtained 28 new patents. As at 31 December 2011, the Group owned 80 registered patents and had several patents pending for approval. In order to further expand the product lines, to enhance the competitiveness of the products and to maintain its edge over industry peers, the Group spent an aggregate of approximately RMB15,763,000 on research and development during the year 2011, focusing mainly on developing new materials and products, as well as supporting clinical trials. d) Market Coverage: The Group believes that the key to achieving sustainable growth is by focusing on its customers and by anticipating and delivering on their needs through innovation. In order to obtain a deeper understanding of the needs of the end-user customers, the Group adopted an enhanced sales and marketing strategy in the beginning of 2011 by introducing an increased level of locally-based sales and marketing activities, including scheduled hospital visits, surgeons meetings and market research. To support these new initiatives, the Group expanded its sales and marketing team significantly during 2011 by recruiting more than 50 new sales personnel with medical background, including a number of former orthopaedic surgeons. The Group believes that the right team is now in place to communicate with end-user customers in an efficient and effective manner. The Group continued to expand its market coverage by widening its distribution network and increasing its hospital penetration during the year. As at 31 December 2011, the Group’s distribution and sales network in China consisted of approximately 620 distributors and 3,450 hospitals, compared to approximately 450 distributors and 3,000 hospitals as at the end of the previous year. Besides domestic sales, the Group continued to develop distribution channels in international markets such as South America, Middle East, Eastern Europe and Southeast Asia. During 2011, export sales of the Group amounted to approximately RMB18,180,000, representing an increase of 16.72% as compared to the previous year and 4.72% of the Group’s overall revenue. Furthermore, Trauson Holdings obtained regulatory approval to sell its own branded products directly to Thailand and Venezuela during the year. As at 31 December 2011, Trauson Holdings had obtained approval to export its own branded products directly to 17 countries. Prospects: Trauson Holdings believes that the long-term growth drivers underpinning the orthopaedic industry in China, such as ageing population, expanding health insurance coverage, patients’ improving affordability, increasing number of orthopaedic surgeons and hospitals, would remain strong in the coming years. The Group therefore maintains a positive outlook of its development prospects and would continue to capitalise on these advantageous conditions with a view to bolstering its position as one of the leading players in the orthopaedic devices industry in China. Geographical expansion will continue to be one of the main strategies of the Group to grow future sales beyond its traditional stronghold of economically developed coastal provinces. As the healthcare market in China’s inland provinces is experiencing rapid growth, Trauson Holdings will further expand the size and depth of its regional sales and marketing teams in these markets. Since the inception of its enhanced sales and marketing strategy in the beginning of 2011, the Group’s sales force is now represented by dedicated regional teams which comprise highly-qualified personnel, many of whom are former medical physicians or orthopaedic surgeons. By staying close to the local markets, these locally-based teams will be the key to expanding the Group’s distribution network as well as penetrating into local hospitals. In addition, by possessing professional medical knowledge, they are well-equipped to enhance the Group’s services to hospitals and surgeons and to obtain clinical feedback in an efficient manner. Besides the foregoing, new product innovation and introduction is another major strategy of Trauson Holdings to stay ahead of its competitors. As such, Trauson Holdings continues to place great emphasis on developing new products to augment its existing product portfolio. As at 31 December 2011, the Group had 11 new products under research and development which consisted of 7 spine products and 4 joint products. The Group expects that several spine products will be approved by the SFDA in 2012. After a highly robust showing of spine product sales in 2011, Trauson Holdings anticipates that its spine product portfolio will be further enhanced when registration is obtained for all of these new spine products currently under development. Furthermore, Trauson Holdings is fully committed to the development of its own joint products, which is progressing well as planned. Trauson Holdings firmly believes that it is well-positioned to deliver long-term sustainable growth by offering its customers on-going innovative products with the right value proposition. On the international front, Trauson Holdings believes that there are substantial opportunities for its products in emerging markets, including South America, Middle East, Eastern Europe and Southeast Asia. Trauson Holdings’ products are highly competitive in these markets in terms of price and quality. As such, the Group will maintain its strategy of driving growth in international sales through expanding its network of quality overseas distributors and pursuing regulatory approvals to sell to new markets. In addition to organic growth, Trauson Holdings will continue to look for strategic investment opportunities as a means to accelerate its pace of expansion and to maintain its competitive edge in China’s orthopaedic device market. Therefore, the Group is continuously searching for suitable merger-and-acquisition targets and strategic collaboration partners, in both China and abroad. The Group’s priority is to create additional value for its shareholders through these transactions, and therefore is prepared to invest the appropriate amount of time and resources throughout the process of identifying and evaluating potential investment opportunities. As the prevailing regulatory environment in China may generate industry consolidation opportunities over the next few years, Trauson Holdings is well-positioned to be at the forefront of taking advantage of such opportunities.

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