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Public company info - Shanghai Pioneer Holding Ltd , 01345.HK
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Shanghai Pioneer Holding Ltd, 01345.HK - Company Profile
Chairman LI Xinzhou
Share Issued (share) 1,260,000,000
Par Currency U.S. Dollar
Par Value 0.01
Industry Medicine
Corporate Profile Business Summary: The principal activities of the Group are the marketing, promotion and sale of pharmaceutical products and medical devices. Performance for the year: Revenue of the Group decreased by 19.0% to RMB1,316.0 million in 2019 from RMB1,624.3 million in 2018. Gross profit of the Group increased by 7.5% to RMB679.8 million in 2019 from RMB632.4 million in 2018. Net profit of the Group increased by 22.5% to RMB103.8 million in 2019 from RMB84.8 million in 2018. Basic earnings per share of the Company was RMB0.09 in 2019, which represents a 28.6% increase compared to RMB0.07 in 2018. Business Review In 2019, China’s medical reform entered into a new stage. As new policies continue to be introduced, new regulations continue to be promulgated and new pilots continue to be implemented, the pharmaceutical industry underwent profound changes. Looking back on the overall situation of the industry, despite the incremental improvement of the National Medical Security Administration system and pressure put on drug prices by medical insurance cost control policies, there is still great and steady growth in the demand in the industry remains against the backdrop of consumption upgrade and the acceleration of ageing population, and the industry is still on a rise. The incremental implementation of the “Consistency Evaluation of Generic Drugs” and the dissemination of the “Adjuvant Drug List” are pushing forward structural adjustments of the industry, and further polarizes the enterprises in the industry. Specifically for the Group, the government’s support and preferential policies on innovative drugs and medical devices, such as optimization of the approval process and accreditation of international clinical trial data, will help to expand the range of products for the Group’s selection. As each province strengthens its implementation of national policy requirements on medical insurance, the Group’s medicine and medical equipment will enhance the effective use of medical insurance proceeds with its clear curative effects and high quality, thereby further highlighting the Group’s competitive edge in the market. The Group will leverage its advantages in product quality and brand image and strengthen its academic promotion, so as to seize opportunities to further develop its business amidst a changing and challenging market environment. For the Reporting Period, through the Group’s active effort on organizing the market potential and promotion strategies of products, as well as increasing the frequency and depth of academic promotion activities, most of the products sold via the provision of comprehensive marketing, promotion and channel management services continued to achieve pleasing results. As disclosed in the Company’s announcement dated 28 December 2017, the Alcon’s ophthalmic pharmaceutical products were sold by the Group via the provision of co-promotion and channel management services, during the transition period. According to the distribution agreement signed by the Group and Alcon, since 2019, the Group has been exclusively entitled to the sale of 10 specifications in 8 types of Alcon’s ophthalmic pharmaceutical products, which has had a great impact on the overall performance of the Group. For the Reporting Period, the Group’s revenue decreased by 19% year-on-year to RMB1,316.0 million (2018: RMB1,624.3 million), gross profit increased by 7.5% year-on-year to RMB679.8 million (2018: RMB632.4 million) and net profit for the year increase by 22.5% year-on-year to RMB103.8 million (2018: RMB84.8 million). For the Reporting Period, the Group’s revenue generated from pharmaceutical products sold via the provision of comprehensive marketing, promotion and channel management services increased by 6.5% compared to last year to RMB858.1 million, representing 65.2% of the Group’s revenue for the Reporting Period. Gross profit increased by 9.3% compared to last year to RMB578.6 million, representing 85.1% of the Group’s gross profit for the Reporting Period. For the Reporting Period, the Group’s revenue generated from medical devices sold via the provision of comprehensive marketing, promotion and channel management services increased by 29.7% compared to last year to RMB129.0 million, representing 9.8% of the Group’s revenue for the Reporting Period. Gross profit increased by 54.9% compared to last year to RMB87.5 million, representing 12.9% of the Group’s gross profit for the Reporting Period. For the Reporting Period, the Group’s revenue generated from Alcon’s Products sold via the provision of channel management services was RMB328.9 million, representing 25.0% of the Group’s revenue for the Reporting Period. Gross profit was RMB13.7 million, representing 2.0% of the Group’s gross profit for the Reporting Period. Prospects: With the deepening of China’s medical reform, the pharmaceutical industry is gradually forming a new ecosystem. As a result of profound changes in different areas, such as traditional research and development, review and approval, as well as the pricing systems, the pharmaceutical market is facing a significant structural adjustment. In general, the PRC pharmaceutical industry is moving towards diversification in the long run. There will be more development opportunities for products that satisfy therapeutic needs and possess clear clinical value. The Group will continuously focus on the introducing and developing new products, enhancing marketing and promotion capabilities, expanding market coverage through win-win cooperation, enriching the industrial chain through mergers and acquisitions in a timely manner, responding proactively amidst the environment teeming with challenges and changes in the PRC, and forging vigorously ahead, so as to realise the new blueprint of the Group’s future development. In the meantime, the Group has been actively exploring opportunities to ascertain markets with growth potential for its future development and further expansion, and to create value for and enhance the returns to the shareholders of the Company (the “Shareholders”). To this end, the Group has been in the process of ascertaining and exploring opportunities in business areas with promising prospect, including the environmental protection industry in China, while insisting on carrying on the existing principal businesses in providing comprehensive marketing, promotion and channel management services for imported pharmaceutical products and medical devices as its core businesses. As at the date of this announcement, the Group is in the process of developing its business strategy in the potential new business and has yet to formulate any specific plans or to locate any specific targets for merger and acquisition, nor has it reached any agreement with any joint venture partners or business parties in relation to the potential new business. For details, please refer to the announcement of the Company dated 3 February 2020. The outbreak and ramification of COVID-19 worldwide and the subsequent measures and restrictions cross-border since early 2020 have imposed risks on the global environment and will subject the operations of the Group to uncertainty. Given the changeable nature of the circumstances, the Directors consider that the financial effects cannot be accurately estimated as at the date of this announcement, but expect that, with the prudent management and corporate governance in place, the Group will remain a going concern.

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