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Public company info - China Resources Pharmaceutical Group Limited , 03320.HK
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China Resources Pharmaceutical Group Limited, 03320.HK - Company Profile
Chairman WANG Chuncheng
Share Issued (share) 6,283,000,000
Par Currency
Par Value 0.0
Industry Medicine
Corporate Profile Business Summary: The group is a leading integrated pharmaceutical company in China, engaging in the research and development, manufacturing, distribution and retail of an extensive range of pharmaceutical and other healthcare products. Performance for the year: The Group’s total revenue was HK$204,453.9 million, representing a 7.8% increase from the HK$189,689.1 million recorded for 2018 (representing a year-on-year increase of 12.6% in terms of RMB), achieving steady growth. Business Review： 1. Pharmaceutical Manufacturing The Group’s pharmaceutical manufacturing business focused on core therapeutic areas and products by consistently diversified and optimized its product portfolio, strengthened its capability of academic-based marketing and sales promotion, and facilitated the industrial transformation and upgrade, and forged advantages in product quality and cost. At the same time, the Group innovated its marketing model, enhanced brand influence and control over the distribution channels, thereby continuously consolidating and increasing its market share. During the Reporting Period, revenue in the Group’s pharmaceutical manufacturing business segment amounted to HK$33,805.7 million, representing a 3.5% decrease as compared with 2018 (representing a year-on-year increase of 0.8% in terms of RMB), mainly due to the impact of a significant decline in the annual results of Dong-E-E-Jiao following the channel inventory reduction (revenue of Dong-E-E-Jiao in 2019 decrease by RMB4,379.7 million year-on-year). 2. Pharmaceutical Distribution In 2019, multiple policies induced changes in the pharmaceutical market. The Group responded by performing detailed policy study and actively preparing and participating in the centralised procurement of drug campaign. The Group also expanded upstream resources in multiple dimensions, adjusted product portfolio, developed premium product pipeline, and nurtured self-owned products. By seizing the market opportunities arising from enhanced industry concentration brought by the ‘two-invoice’ policy, the Group expedited national network development, enhanced terminal coverage, penetrated into primary medical institutions and premium private hospitals. The Group also drove innovative transformation by accelerating the development of emerging businesses such as medical devices and TCM distribution, each of which have great market potential. The logistics system was optimised and financing through multiple channels. In 2019, the Group’s distribution business recorded double digit compound annual growth in revenue, operational profit and total assets, achieving its ‘13th Five-year’ Plan goals a year early. During the Reporting Period, the Group’s pharmaceutical distribution business recorded a segmental revenue of HK$170,691.3 million, representing a 9.9% increase over that of 2018 (representing an increase of 14.8% in terms of RMB). This was higher than the average growth rate for the pharmaceutical distribution industry. The gross profit margin of the pharmaceutical distribution segment was 6.9%, a decrease by 0.4 ppt year-on-year comparing with that of 2018. 3. Pharmaceutical Retail The Group has always followed a strategy of integrating distribution and retail businesses, developing and improving direct-to-patient (DTP) professional stores, prescription stores near hospitals, and healthcare shops with distinctive themes, and following the government policy via standardizing, differentiating and specializing the Group’s services to fully construct comprehensive retail operation system. 4. Product Research & Development R&D and product innovation are important drivers of the Group’s long-term growth, and the Group is accordingly continuing to increase investment in R&D activities. During the Reporting Period, total R&D expenditures were HK$1,435.7 million. The Group adhered to government policy, development trend of industry technology, and market demand, continuously improved company’s core competitiveness via integration of its R&D capability for generic and innovative drugs on therapeutic areas such as cardiovascular, respiratory, oncology, gastroenterology and metabolism, central nervous system, immune system, anti-infection, hematology and genitourinary. At the end of the Reporting Period, the Group operated 3 nationally certified engineering and technological centres, 3 nationally certified enterprise technical centres, and 17 provincially or municipally certified research centres. The Group also established postdoctoral research stations with more than 800 R&D employees. Prospects: 1. Commencing the strategic planning of ‘14th Five-year Plan’ 2. Strengthening R&D Innovation, optimising the innovative R&D system, building an innovative and technological platform for biopharmaceutical drugs, and accelerating the acquisition of high-quality products 3. Focusing on core areas, strengthening brand advantages, enriching product portfolios, and promoting the transformation and upgrading of pharmaceutical manufacturing business 4. Sharpening the competitive edge, optimising the business structure, forging a smart pharmaceutical supply chain service provider, and realising the transition from traditional distribution business to an intelligent and professional integrated service provider 5. Expediting mergers and acquisitions, consolidating competitive advantages and business growth 6. Promoting business synergies and resource integration, optimising resource allocations and operational efficiency 7. Expand and diversify international cooperation, accelerate acquisitions of high-quality resources and cutting-edge technologies to comprehensively enhance competitiveness

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