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Public company info - YiChang HEC ChangJiang Pharmaceutical Co. Ltd. - H Shares , 01558.HK
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YiChang HEC ChangJiang Pharmaceutical Co. Ltd. - H Shares, 01558.HK - Company Profile
Chairman TANG Xinfa
Share Issued (share) 654,000,000
Par Currency Renminbi
Par Value 1.0
Industry Medicine
Corporate Profile Business Summary: The group is a PRC pharmaceutical manufacturing company that focuses on the development, manufacturing and sale of pharmaceutical products in the therapeutic areas of anti-virus, endocrine and metabolic diseases and cardiovascular diseases. Performance for the year: Revenue was RMB2,348.11 million, representing a decrease of 62.27% as compared with the previous year. Profit and total comprehensive income attributable to equity shareholders of the Company (without taking into account the effect of the convertible bonds) was RMB590.21 million, representing a decrease of 71.83% as compared with the previous year. Profit and total comprehensive income attributable to equity shareholders of the Company (taking into account the effect of the convertible bonds) was RMB839.46 million, representing a decrease of 56.25% as compared with the previous year. Business Review In 2020, the Group achieved a revenue of RMB2,348.11 million, representing a yearon-year decrease of 62.27% as compared to 2019. Revenue generated from core product, Kewei, reached RMB2,068.73 million, representing a decrease of 65.13% as compared to the corresponding period of 2019. Profit and total comprehensive income (taking into account the effect of the convertible bonds) attributable to equity shareholders of the Company reached RMB839.46 million, representing a year-onyear decrease of 56.25% as compared to 2019. Profit and total comprehensive income (without taking into account the effect of the convertible bonds) attributable to equity shareholders of the Company recorded RMB590.21 million, representing a year-onyear decrease of 71.73% as compared to 2019. Meanwhile, Kewei Granules, Kewei Capsules, Ertongshu, Oumeining and Olmesartan Tablets are the core products of the Group, accounting for 48.88%, 39.22%, 4.02%, 1.17% and 1.16% of the total revenue, respectively. Due to the influence of COVID-19 pandemic in 2020, the mobility of China’s domestic population has declined, and the number of medical activities, prescriptions and sales volume of drugs in hospitals has also decreased accordingly. The Group’s core product, Kewei, is a prescription medicine sold primarily at tiered hospitals, and the sales volume of this product has also declined due to the impact of the COVID-19 pandemic. Although The Group’s results has declined to a large extent during the Reporting Period by COVID-19 pandemic, while the products under research had a smooth progress during the Reporting Period. The production approvals for multiple products have been obtained and the new drug applications of multiple products have been accepted. As of the date of this announcement, Emitasvir Phosphate Capsule, intellectual property rights owned by the Company, has obtained approval for launch. Emitasvir Phosphate Capsule is national Class 1 innovative new drug with the intellectual property rights owned by the Company, which is an anti-hepatitis C oral direct-acting antiviral drug. As of the date of this announcement, Recombinant Human Insulin Injection, of which research and development was carried out by the Group, is the first biologic drug of the Company approved to launch. Furthermore, the registrations of domestic production for Insulin Glargine Injection, Insulin Aspart Injection and Insulin Aspart 30 Injection have been accepted and multiple generic drug varieties have obtained approvals to launch. As at the date of this announcement, among the portfolio of six generic drugs acquired from Sunshine Lake Pharma Co., Ltd. (廣東東陽光藥業有限公司) (“Sunshine Lake Pharma”) in 2018, the production approvals for all such drugs have been granted, with an overall sales income amounted to RMB87.32 million during the Reporting Period. Amongst the 27 generic drugs portfolio acquired by the Group from Sunshine Lake Pharma in February 2019, all of them have been applied to the China National Medical Products Administration (“NMPA”) for the marketing approval (“NDA” ) by Sunshine Lake Pharma, in which Ticagrelor Tablet, Rosuvastatin Calcium Tablets, Entecavir Tablets, Olanzapine Tablets, Olanzapine Orally Disintegrating Tablets, Sitagliptin Tablets, Sitagliptin Metformin Hydrochloride Tablets, Linagliptin Tablets, Linagliptin and Metformin Hydrochloride Tablets, Alogliptin Tablets and Tadalafil Tablets were granted listing approvals. The product portfolio of the Group will further expand once approvals of other products have been obtained. Prospects: With the government’s encouragement in R&D and commercialization of innovative new drugs, and optimization of the approval process, innovative new drugs can be included in the Medical Reimbursement Drug List by way of negotiation in a timely manner, and domestic pharmaceutical companies enter into R&D fast track. Policies such as Consistency Evaluation of generic drugs and centralized procurement continue to promote the reform of pharmaceutical industry and accelerate the survival of the fittest among the enterprises. Pharmaceutical companies with strong R&D capabilities, diversified product pipelines, well-developed production systems, strong brand advantages and excellent sales and marketing teams will gain unprecedented development opportunities. 2020 was a year of remarkable results in the Group’s business development. In response to national policies, the Group actively participated in the centralized procurement of drugs, and has won bids for multiple products (see “4. Successful Bid for the Centralized Procurement of Products” on page 51 of this announcement for details). The Emitasvir Phosphate Capsules, intellectual property rights owned by the Company, has obtained approval to launch. Emitasvir Phosphate Capsule is national Class 1 innovative new drug with the intellectual property rights owned by the Company, which is an anti-hepatitis C oral direct-acting antiviral drug, continuing to consolidate the Group’s advantage in the anti-virus therapeutic area. Recombinant Human Insulin Injection, of which research and development was carried out by the Group, has obtained approval for launch. Recombinant Human Insulin Injection is the first biologic drug of the Group approved to launch, which marked the beginning of the brand of the Group entering the field of biological medicine. The registrations of domestic production for Insulin Glargine Injection and Insulin Aspart 30 Injection have been accepted. Linagliptin Tablets, Linagliptin and Metformin Hydrochloride Tablets, Sitagliptin Tablets, Sitagliptin Phosphate and Metformin Hydrochloride Tablets and Alogliptin Benzoate Tablets obtained approvals to launch. The Group’s drugs in the field of diabetes keep entering into the market, providing patients with high-quality and cost-effective medication options. Furthermore, the Group has also obtained approvals for the launch of multiple generic drug varieties (see “13. Approval Status and Registration Acceptance of the Products During the Reporting Period” on page 55 and “EVENTS AFTER THE REPORTING PERIOD” on page 56 of this announcement for details). It is expected that the approvals for more than a dozen drug varieties will be obtained within two years. As more products are approved for launch, the therapeutic areas covered by the Group’s product lines will be further diversified, providing new growth drivers for the Group’s mid- to long-term development. Meanwhile, the Group actively expands external cooperation. For example, the Group entered into a strategic cooperation agreement with China Resources Pharmaceutical Commercial Group Co., Ltd. (華潤醫藥商業集團有限公 司) (“CR Pharmaceutical Commercial”) to jointly develop an internet E-commerce platform dedicated to improving terminal coverage of the products. The Group also renewed the 2015 Strategic Cooperation Agreement with Shenzhen HEC Industrial Development Co., Ltd. (“Shenzhen HEC Industrial”), under which the Group continues to enjoy the rights of product acquisition options and pre-emption rights, providing a strong guarantee for the Group’s subsequent product layout. Looking forward, the Company will continue to enrich its product portfolio and improve its income structure by way of in-house R&D and external collaborations. The Company will integrate the resources of internal and external R&D, production and sales channels of the Group, and will expand its scope of business, strive to be a leading brand in the pharmaceutical manufacturing industry as well as an influential pharmaceutical corporate in China in therapeutic areas including anti-viral, anti-infective and endocrine and metabolic diseases.

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