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Public company info - Frontage Holdings Corporation , 01521.HK
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Frontage Holdings Corporation, 01521.HK - Company Profile
Chairman Zhihe Li
Share Issued (share) 2,048,000,000
Par Currency U.S. Dollar
Par Value 1.0E-5
Industry Medicine
Corporate Profile Business Summary: The principal activities of the Group are to provide laboratory and related services to pharmaceutical, biotechnology companies and agrochemical companies as well as bioequivalence studies. Performance for the year: The revenue of the Group increased by 20.8% from approximately US$83.1 million for the year ended December 31, 2018 to approximately US$100.4 million for the year ended December 31, 2019. Business Review The group is a fast-growing CRO engaging in the provision of integrated, scientifically-driven research, analytical and development services throughout the drug discovery and development process to enable pharmaceutical companies to achieve their drug development goals. The services that the Group provides in North America (including the U.S. and Canada) include DMPK and safety and toxicology, in each case, throughout the drug discovery and development process. The Group’s bioanalytical and CMC services are offered throughout the drug discovery and development process both in North America and in China. The Group also provides bioequivalence and related services in China. Certain types of the Group’s services are also offered to agrochemical companies. During the Reporting Period, the Group continued to advance the group’s position as a value-add partner with a focus on solving the group’s customers’ most significant and complex drug discovery and development challenges. The group believe that the group’s comprehensive services, scientific and technical expertise, sophisticated equipment and technology, and the group’s experience in global drug development and product launch services, represent the group’s core strengths. During the Reporting Period, the healthcare industry in China has witnessed several policies such as the launch of the adjuvant drug list, the new version of the National Drug Reimbursement List (“NDRL”), the national expansion of the first batch of centralized procurement, and the launch of the second batch of centralized procurement of generics. Combined with an ongoing reformation of the drug review and approval system in China, the pilot program of the Drug Marketing Authorization Holder system promulgated in 2016, and the pilot scheme of centralized procurement of generics and inclusion of innovative drugs into the NDRL accelerated the Chinese pharmaceutical innovative market growth by encthe group’saging more companies to shift to the development of innovative drugs, which increased the market demand for CRO services in China. On the other hand, the implementation of centralized procurement caused uncertainty of the bidding results and unprecedented price pressure for generics, which temporarily impacted the market demand, motivation and execution progress of consistency evaluation for generics, so as to bring some pressure on the performance of the Group’s business related to generics in China. Hothe groupver, through strong execution, sound business practices, strategic service offerings especially those for innovative drugs, and the continuous improvement of the group’s operational process and infrastructure, the group have achieved record high revenue and profit nonetheless. Revenue of the Group increased by 20.8% from approximately US$83.1 million for the year ended December 31, 2018 to approximately US$100.4 million for the year ended December 31, 2019. The Group’s contracted future revenue, which represents future service revenues from work not yet completed or performed under all signed contracts or customer’s purchase orders in effect at that time, was approximately US$109.5 million as at December 31, 2019, representing an increase of 48.6% compared to approximately US$73.7 million as at December 31, 2018. Our service offerings have significantly expanded the group’s relationships with large pharmaceutical companies in recent years, which has allothe groupd us to pursue strategic alliances with these companies due to the group’s expanding geographic footprint, broad scientific expertise, and solution-oriented service offerings. Prospects: The global pharmaceutical market is expected to experience the following trends in the coming years, including the increasing approvals of innovative drugs, diversified pharmaceutical R&D models which gradually shifted from in-house R&D to external R&D services, continued expansion of biologics and emerging novel therapies for unmet medical needs, as the groupll as the increasing investment in biotech companies, all of which obviously provide growth opportunities for pharmaceutical R&D service providers. According to Frost & Sullivan, the Chinese pharmaceutical market is the second largest market in the world. The market size increased from US$182.2 billion in 2014 to US$231.6 billion in 2018, representing a CAGR of 6.2% from 2014 to 2018, and is expected to reach US$322.1 billion in 2023, representing a CAGR of 6.8% from 2018 to 2023. Being the fastest growing sector in the world, the Chinese pharmaceutical market is expected to experience the trends of the expansion of innovative drugs market for several reasons: (i) growing innovations led by pharmaceutical companies which place vast bets on R&D; (ii) improving availability of novel therapies, and (iii) increasing investment in biotech sector. Moreover, with the pilot scheme of centralized procurement of generics and inclusion of innovative drugs into the NDRL of China, it is believed that the Chinese pharmaceutical market is shifting towards the innovative drug-driven market, during which the demand for CRO services in China will most likely continue to rise. As a fast-growing CRO operating in a large growing market and the groupll positioned to capitalize on strong industry growth drivers, the Group will benefit from having operations in both North America and China, favorable government policies and increased business demand. The Group intends to leverage its existing strengths and expand its capacities by recruiting additional scientists, continuing to invest in state-of-the-art equipment and technologies, expanding or enhancing its existing facilities, and adding new facilities, so as to pursue opportunities from anticipated increase in outsthe group’scing by the pharmaceutical industry and the related demand for its services. Moreover, the Group intends to strategically extend the range of its services to offer customers a more integrated solution through organic growth and potential acquisitions and aims to pursue a range of opportunities arising from the growing demand for CRO services.

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