Share This

Public company info - Dawnrays Pharmaceutical (Holdings) Ltd. , 02348.HK
Input the stock code or the company name     Search  
 
 Profile   Information   Data   Financial Ratios   Profit Loss   Cash Flow   Balance   Earnings   Dividend 

Dawnrays Pharmaceutical (Holdings) Ltd., 02348.HK - Company Profile
Chairman Li Kei Ling
Share Issued (share) 1,496,000,000
Par Currency Hong Kong Dollar
Par Value 0.05
Industry Medicine
Corporate Profile Business Summary: During the year, the Group was principally engaged in the development, manufacture and sale of non-patented pharmaceutical medicines including intermediate pharmaceutical, bulk medicines and finished drugs. Performance for the year: The Group has recorded revenue of approximately RMB950,007,000 for the year ended 31 December 2019 (2018: RMB948,938,000), representing an increase of 0.1%, basically flat as compared to 2018. Profit attributable to owners of the parent was approximately RMB255,430,000 (2018: RMB303,960,000), representing a decrease of 16.0% over 2018. Business Review After the publication of a series of medical and pharmaceutical policies involving payment under the medical insurance scheme, medicine research and development, medicine circulation, group purchasing organization, and essential drug list in the past few years, the government promulgated the revised Pharmaceutical Administration Law in 2019 and further promoted centralized procurement of drugs nationwide. The revised law, together with the continuously deepened mechanism for centralized procurement of drugs, has imposed new operation standards and requirements on the pharmaceutical industry in China. In the high-pressure atmosphere, businesses are continuously changed and get more in line with international markets. Therefore, in terms of product market access, research and development, and business model for medicines, industry stakeholders must adapt to the industry changes and make a rapid response to seek room for sustainable development. So far, China’s pharmaceutical industry is still dominated by enterprises that are mainly engaged in research and development, production and sales of generic drugs. As one of the market players, the Group has always taken cephalosporin antibiotics and specific medicines as the core business products, which have generated considerable revenue and profits. According to the policies of the state on the quality and efficacy consistency evaluation of generic drugs published several years ago, the Group has advanced relevant work in a timely manner. Up to now, a total of four core products have passed the evaluation. With such products, the Group participated in recent two rounds of centralized procurement organized by the state and won the bid for Amlodipine Besylate Tablets, Entecavir Dispersible Tablets and Levocetirizine Dihydrochloride Tablets respectively, thus confirming the sales and market shares of the products during the period of supply specified in contracts, which is conducive to stabilizing the revenue of the Group during that period of time. During the reporting period, the Group actively promoted the consistency evaluation of many existing varieties, so as to increase the recognition of their product quality and make them possessing basic condition required in centralized procurement, with a view to increase the Group’s opportunity in participating the centralized procurement in the future so as to expand the source of revenue. In addition to focusing on normal centralized procurement markets, in terms of non-centralized procurement markets, the Group will continue to use its internal resources and brand advantages to strengthen its overall marketing arrangements and operations to grab a market share, and strive for maximizing revenue with a higher gross profit margin, to mitigate the impact of a decrease in the gross profit of products selected for centralized procurement. As is known to all, the government’s policies of group purchasing organization and negotiation on the inclusion of drugs in the medical insurance scheme have caused a decrease in the supply prices of major drugs to their basic values, for more effective use of resources for which payment is made under the medical insurance scheme, and for improvement in the accessibility of high-quality medicines, thus benefiting the general public. As far as pharmaceutical enterprises are concerned, in such a policy environment, the gross profits of related products will inevitably and continuously be squeezed, thus increasing the uncertainty of corporate operation and the difficulties in achieving business targets. Despite the increasing challenges in market operation, the Company has adopted targeted product development and investment strategies in response to the future development of the market according to the financial resources of the Group. It has strengthened the product mix of the Group and pipelines of products under development, with a view to stabilizing the business size of the Group and maintaining moderate growth after various plans pay off. During the reporting period, Dawnrays International Company Limited (東瑞國際股份有限公司), a member of the Group, acquired the entire equity interest in Top Field Limited (“TFL”) in cash, thus owning all assets of TFL and its subsidiaries, including cardiovascular drug business with but not limited to Atorvastatin Calcium Tablets, which enriches the Group’s product line and enhances the Group’s strength in the field. During the year, upon obtaining the management right of TFL’s subsidiary, the Group got into its business operation proactively with satisfactory progression, the Group won the bid for Atorvastatin Calcium Tablets in the centralized procurement of drugs organized by the state. In addition to the aforementioned acquisition, Suzhou Dawnrays Pharmaceutical Co., Ltd., a member of the Group, as the transferee, accepted the transfer of the marketing authorization holder in respect of Febuxostat tablets (40mg, 80mg), a drug for gout treatment, and bulk medicines, in order to expand the range of products the Group can offer in the future. In order to facilitate the Group’s technological innovation in the research and development of preparation products, especially specific medicines, Nanjing PharmaRays Science and Technology Ltd., a joint venture enterprise established by the Group and external entities, started operation during the year. The company focuses on the innovation of pharmaceutical science and technologies, especially the development of new drug products, using new technologies of drug delivery systems. The company is independent and self-sustaining. The Group has the priority to acquire and use research and development results of the company for a fair consideration, under fair conditions. In addition, Phase II and Phase I pre-clinical preparations have been carried out respectively for clinical trials for Class I new drug registration of AK102 (proposed to be used for lowering cholesterol levels) and AK109 (proposed to be used for treating gastric cancer, lung cancer and rectal cancer), both of which are monoclonal antibody agents developed by AD Pharmaceuticals Co., Ltd., a joint venture enterprise of the Group. Due to land replotting requirements of the local government, Suzhou Dawnrays Pharmaceutical Co., Ltd., a subsidiary of the Group, is making efforts to advance the plan for relocating the plants located at Tianling Road. In addition, based on the land and environment reorganized requirements of the local government and the long-term development strategy considerations of the Group, the Group will phase out the production facility of Dawnrays (Nantong) Pharmaceutical Science and Technology Co., Ltd. (“Dawnrays (Nantong)”) and plan to establish a new production base in Chemical Industry Park, Lanzhou New District, Gansu Province. Lanzhou Dawnrays Pharmaceutical Co., Ltd., a wholly-owned subsidiary incorporated by the Group at the end of December 2019, is responsible for relevant work of the project. The Group expects that the relocation of the plants will not materially and adversely affect the existing conventional production. The Group will take this opportunity from the relocation, to optimize the technologies and production facilities for intermediates and bulk medicines, with a view to creating cost and quality advantages of downstream products, giving full play to the corporate strength in the integration of bulk medicines and preparations, and improving the probability of business success in the long run. Prospects: Looking ahead to the market development, the Group is fully aware that under the policy of centralized procurement and group purchasing organization, the continuous decrease in the drug price has been an irreversible trend of the market, and the inter-industry competition will be fiercer. However, under the policy environment of in-depth advancement of the “big health” strategy by the state, and with rapid population ageing in China, there is a continuous increase in the citizens’ demand for drugs, and resultantly huge room for the development of the pharmaceutical market, as well as expected continuous growth in the market capacity. The Group will continuously invest resources through various channels to accelerate the research progress of the existing products under research. At the same time, the Group will strive to pursue product and technology upgrades, extend the existing product line and form a number of technically accomplished product portfolios. The Group expects that subject to the successful implementation of relevant plans, new products will be granted marketing authorization in the foreseeable future, and even become a new source of revenue for the Group after launching.

Information from the financial statements of listed companies

Mobile | Full
Forum rule | About Us | Contact Info | Terms & Conditions | Privacy Statment | Disclaimer | Site Map
Copyright (C) 2024Suntek Computer Systems Limited. All rights reserved
Disclaimer : In the preparation of this website, 88iv endeavours to offer the most current, correct and clearly expressed information to the public. Nevertheless, inadvertent errors in information and in software may occur. In particular but without limiting anything here, 88iv disclaims any responsibility and accepts no liability (whether in tort, contract or otherwise) for any direct or indirect loss or damage arising from any inaccuracies, omissions or typographical errors that may be contained in this website. 88iv also does not warrant the accuracy, completeness, timeliness or fitness for purpose of the information contained in this website.