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Public company info - Sanai Health Industry Group Company Limited , 01889.HK

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Sanai Health Industry Group Company Limited, 01889.HK - Company Profile
Chairman Chen Cheng Qing
Share Issued (share) 3,067,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Medicine
Corporate Profile Business Summary: The Group was principally engaged in four businesses: (i) pharmaceutical products business; (ii) finance leasing business; (iii) other general trading business; and (iv) genetic testing and molecular diagnostic services. Performance for the year: — Revenue from continuing operations for the year ended 31 December 2020 increased by approximately 48.32% to approximately RMB121.40 million (2019: approximately RMB81.85 million). — Gross profits from continuing operations for the year ended 31 December 2020 was approximately RMB30.92 million (2019: approximately RMB2.11 million). — Profit for the year ended 31 December 2020 amounted to approximately RMB11.49 million (2019: approximately RMB108.48 million). — Basic and diluted earnings per share attributable to owners of the Company for the year ended 31 December 2020 was approximately RMB0.2 cents (2019: earnings approximately RMB3.5 cents). Business Review Pharmaceutical Products Business Since the acquisition of Fujian Yongchun Pharmaceutical Company Limited* (福建永春製藥有限公司) (“Fujian Yongchun”) and Fujian Zhixin Medicine Co., Limited* (福建至信醫藥有限公司) (“Fujian Zhixin”) in 2019, the Company continued to develop its core business, pharmaceutical products business. Fujian Yongchun is located in Yongchun County, Quanzhou City, Fujian Province. It occupies a site area of 32,330 square metres with a gross floor area of the plants of approximately 8,311.58 square metres, in which the GMP workshop has an area of 3,581 square metres. Fujian Yongchun owns 5 drug registration series (藥品批准文號) in the PRC and produces 5 types of oral medicine, including Yangpi San (養脾散), Sanqi panax notoginseng capsules (三七膠囊) and phentolamine mesylate tablets (甲磺酸酚妥拉明片). It became one of the important bases for pharmaceutical production of the Group. The Group aims to increase its market share by further promoting the core products and other products of Fujian Yongchun. To achieve this goal, the Group plans to adjust its current market position. In particular, the Group plans to enhance its sales and promotional strategies through different channels so as to strengthen its market penetration. The Group will continue to expand its sales team to explore the traditional medicine market by sales via drugstore chains and other channels. The Group will also fully leverage on its existing sales team to increase its sales through distributors. Fujian Zhixin possesses the Medical Operations Permit (Wholesale), Medical Operation Quality Management System Certifications (GSP) and Food Operations Permit. The Group acts as a sales agent nationwide for the herbal medical materials, Chinese herbal medicine, Chinese patent medicine, chemical drug preparations, antibiotic preparations, biochemical pharmaceuticals, biological products, healthcare products and food products. Since the acquisition of Fujian Zhixin in 2019, not only the Group can sell its pharmaceutical products through the sales network of Fujian Zhixin, but can also act as a sales agent to sell pharmaceuticals and healthcare products for other pharmaceutical companies. During the Reporting Period, the revenue derived from pharmaceutical products business increased by approximately 8.1% to approximately RMB44.97 million (2019: approximately RMB41.59 million). Finance Leasing Business Union Development Finance Lease (Shenzhen) Company Limited* (聯合發展融資租賃(深圳) 有限公司), an indirect wholly-owned subsidiary of the Company, has been engaging in finance leasing business since 2017. The revenue derived from finance leasing business for the Reporting Period was approximately RMB6.61 million (2019: RMB6.66 million). Leveraging on the business platform, the Company will also develop leasing services of medical devices and rehabilitation equipment which is complimentary to the Group’s existing pharmaceutical products business. Other General Trading Business The Group operates other general trading business, including the trading of pharmaceutical related apparatus and products such as masks and oxygen machine, etc.. During the Reporting Period, other general trading business recorded a revenue of approximately RMB64.00 million (2019: approximately RMB31.23 million), representing a significant increase of approximately 104.93%. The increase was mainly attributable to the trading of masks and oxygen machines which had high demand due to the outbreak of COVID-19 pandemic in 2020. Genetic Testing and Molecular Diagnostic Services The Group has acquired the equity interests in Zentrogene Bioscience Laboratory Limited (“Zentrogene”) on 1 April 2019 which primarily engages in the provision of genetic testing and molecular diagnostic services. Zentrogene operates a laboratory with the relevant license in Hong Kong, providing services comprising non-invasive prenatal diagnosis (NIPD), tumor genetic screening, DNA testing and paternity testing. Genetic testing is a prerequisite for precision medicine. During the Reporting Period, the revenue generated from genetic testing and molecular diagnostic services amounted to approximately RMB5.84 million (2019: RMB2.40 million), representing an increase of 143.33%. The significant increase was due to the fact that Zentrogene only contributed the nine month of revenue to the Group for the financial year ended 31 December 2019 and partly Zentrogene has established cooperative relationships with new business partners in Shenzhen which contributed to a growth in revenue in 2020. Prospects: Pharmaceutical products business Although the Company has disposed of Fuzhou Pharmaceutical Company* (福州藥業有限公司)engaging in pharmaceutical production, in the meantime, all of the land assets, plants and most of the production equipment of another company – Fujian Sanai Pharmaceutical Co., Ltd.*(福建三愛藥業有限公司)have been auctioned by the court, pharmaceutical products business is still the principal business of the Company and continues to develop. Fujian Yongchun Pharmaceutical Company Limited*(福建永春製藥有限公司), is a high-tech enterprise in Fujian Province. Located in Yongchun County, Quanzhou City, Fujian Province, it occupies an area of 32,330 sq.m. with a gross floor area for the plants of approximately 8,311.58 square metres, in which the GMP workshop has an area of 3,581 square metres. Fujian Yongchun owns 5 drug registration series(藥品批准文號)and produces 5 types of oral medicine, including Yangpi San(養脾散), Sanqi panax notoginseng capsules(三七膠囊)and phentolamine mesylate tablets(甲磺酸酚妥拉明片). It will become the new base for pharmaceutical production of the Company which intends to transfer part of the production of oral pharmaceutical products of Fujian Sanai Pharmaceutical Co. Ltd.*(福建三愛藥業有限公司)to Fujian Yongchun in order to expand the production scale of the oral pharmaceutical products of Fujian Yongchun. Fujian Sanai Pharmaceutical Co. Ltd.*(福建三愛藥業有限公司)currently retains 120 drug registration series(藥品批准文號)and part of the uncollateralized equipment. As Fujian Sanai Pharmaceutical Co. Ltd.* still has huge bank liabilities, its major assets were auctioned by the court on 15 March 2019, resulting in a drastic change in operating foundation. The management of the Company is still in the course of discussion for various possibilities to deal with Fujian Sanai Pharmaceutical Co. Ltd*(福建三愛藥業), including but not limited to disposal, restructuring and liquidation. On 29 March 2019, the Company obtained the Medical Operations Permit (Wholesale), Medical Operation Quality Management System Certifications (GSP) and Food Operations Permit through the acquisition of Fujian Zhixin Pharmaceutical Company Limited*(福建至信醫藥有限公司)(“Fujian Zhixin”). In the future, the Company will act as a sales agent nationwide for the herbal medical materials, Chinese herbal medicine, Chinese patent medicine, chemical drug preparations, antibiotic preparations, biochemical pharmaceuticals, biological products, healthcare products and food products. The capacity of the Company on pharmaceutical sales will be stepped up by the acquisition of such pharmaceutical company. Not only can the Company sell our pharmaceuticals through the sales network of Fujian Zhixin*(福建至信), but also act as a sales agent to sell pharmaceuticals and healthcare products from other pharmaceutical companies. Zhejiang Sanai Biotechnology Company Limited*(浙江三愛生物科技有限公司), a wholly-owned subsidiary of the Company, launch a project on a plant factory at the end of 2018, in which an indoor plant cultivation factory with an area of approximately 2,000 square metres will be constructed, where it will adopt LED lighting and automatic water circulatory system to cultivate a high value-added medicinal herb called Taiwan anoectochilus(金線蓮藥材)on stereoscopic cultivation racks. The expected total investment of such project is about RMB30 million. The model of plant factory is an emerging planting method with an advantage of producing quality medicinal herbs in a stable output. Upon implementation of the project, the Company can provide high quality fresh herb of Taiwan anoectochilus as well as pharmaceuticals and food products containing Taiwan anoectochilus to the market in the future, which is expected to generate favourable economic benefits. Precision Medicine Business Genetic testing: The Company has cooperated with Yangtze Delta Region Institute of Tsinghua University in Zhejiang for a precision medicine research and development centre. The Group is committed to developing in the realms of precision testing, genome editing, cell therapy, regenerative medicine and the research and development of targeted drugs to conduct research and product development, and provision of services. The Company recently acquired a biotechnology company which is primarily engaged in the provision of services including genetic testing and molecular diagnostic testing. The biotechnology company operates a laboratory with a legal business license in Hong Kong, providing services comprising non-invasive prenatal diagnosis (NIPD), tumor genetic screening, DNA testing and paternity testing. Genetic testing is a prerequisite for precision medicine. On this basis, the Company will further expand businesses in the field of precision medicine. General Trading Business The Company will gradually reduce the sales of trading products in the future and will focus to deploy its capital mainly for business development of the pharmaceutical and precision medicine sectors. Finance leasing business Since its establishment and development in 2017, Union Development Finance Lease (Shenzhen) Company Limited*(聯合發展融資租賃(深圳)有限公司), an indirect wholly-owned subsidiary of the Company, has achieved initial results and continued to contribute operating profits to the Group. In the future, on the basis of a stabilized business platform, the Company will develop leasing services of medical devices and rehabilitation equipment which is complimentary to the Group’s existing pharmaceutical products business.

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