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Public company info - Sinco Pharmaceuticals Holdings Limited , 06833.HK
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Sinco Pharmaceuticals Holdings Limited, 06833.HK - Company Profile
Chairman Huang Xiangbin
Share Issued (share) 1,692,000,000
Par Currency Hong Kong Dollar
Par Value 1.0E-4
Industry Medicine
Corporate Profile Business Summary: The Group is principally engaged in marketing, promotion and channel management services for improved human plasma-based pharmaceuticals, antibiotics and other pharmaceuticals focused on therapeutic areas and complementary to human plasma-based products and other fast-growing categories in the People’s Republic of China (the “PRC”). Performance for the year: The Group recorded revenue of RMB1,176.4 million for the Reporting Period, representing an increase of RMB223.4 million, or 23.4% as compared to RMB953.0 million in 2018. During the Reporting Period, the Group recorded gross profit of RMB216.0 million, representing a decrease of RMB5.0 million as compared with RMB221.0 million in 2018, while gross profit margin decreased from 23.2% to 18.4% for the Reporting Period as compared with that of 2018. Business Review： With extensive experience in the distribution of pharmaceutical imports, the Group provides comprehensive MPCM services for small and medium sized overseas pharmaceutical manufacturers. Meanwhile, the Group is the only MPCM services provider for imported blood products in the PRC, leveraging the Group’s quality product portfolio that focuses on blood products and nationwide marketing and promotion network. The Group’s existing product portfolio encompasses many quality products produced by small- and medium-sized overseas pharmaceutical manufacturers, covering multiple therapeutic areas such as anti-infective drugs, and blood products. Included in such products are blood products (which are in short supply in the Chinese market) and prescription drugs which can meet the high demand for high-quality drugs with excellent clinical results among medical institutions and patients. 1. Core Products Human Albumin Solution Dating back to the early 1940s, blood products have undergone decades of fast development. Such products have grown from Human Albumin at the very beginning to the current 20-plus categories in three series, encompassing such sub-categories as Human Albumin, immune globulin and blood coagulation factors. Given the approval granted to new indications and an improved rate of diagnosis, the Plasma Protein Therapeutics Association (PPTA) predicts that the market demand for blood products will retain a high-speed growth around the globe. In these two years, as many new plasma collection stations have been put into service, the amount of plasma collection increases every year and production capacity of domestic manufacturers also increased rapidly. As the largest sales category in the market of blood products in the PRC, Human Albumin is the only kind of blood product allowed to be imported at the present, and its lot release of imported and domestic categories maintains a rapid growth every year. In 2019, the annual batch release amounted to 53.4 million vials (2018: 46.3 million vials), among which the percentages of imported and domestic categories were 60.3% and 39.7% respectively. Manufactured by Octapharma, a global leading manufacturer of blood products, and included as a Category B product in the National Reimbursement Drug List (NRDL), the Human Albumin Solution operated by the Group is used to remedy the shock caused by hypovolemia, remove edema and poisonous substances, and treat neonatal hyperbilirubinemia. Based on the batch release of the Human Albumin Solution in the PRC in 2019, the market share of the Human Albumin Solution manufactured by Octapharma was approximately 7.8%. Axetine (Cefuroxime Sodium for injection) Manufactured by Medochemie Ltd. from Cyprus, the Axetine operated by the Group is classified as the second generation of cephalosporin antibiotics. It is used to remedy bacterial infections caused by sensitive bacteria, including respiratory infection, urinary tract infection, and skin and soft tissue infections. The product has been included in the National Catalogue of Essential Pharmaceuticals and the Category A products of NRDL. Medocef (Cefoperazone Sodium for injection) Also manufactured by Medochemie Ltd. and operated by the Group, Medocef is classified as the third generation of cephalosporin antibiotics. The product is used to remedy bacterial infections caused by sensitive lactamase, including respiratory infection, urinary tract infection, biliary tract infection, abdominal infection, skin and soft tissue infections, pelvic infection and septicemia. The product is also effective in treating the brain infections caused by influenza and meningococcus. Prospects: After the pile-up of channel inventory in 2017 and the gradual inventory reduction in 2018, the year of 2019 witnessed a turning point for the blood products industry, with Human Albumin as the leading product to usher in a year of recovery. It is mainly because the demand after the Two-Invoice System’s implementation has not disappeared while the channel access has changed, with sales channels becoming more flat, manufacturers and end customers cooperating more closely, and more investment being made in academic marketing and brand promotion. Manufacturers’ business concept is gradually shifting from price-oriented to brand-oriented. The Group will continue with its corporate development strategies in optimizing the marketing network and the product portfolio, and maintaining the business of blood products and antibiotics as a core therapeutic area. By concentrating its advantageous resources, the Group spares no effort in reaching a speedy completion of the adjustment on sales pattern under the new policies for stabilizing its business. In respect of expanding its marketing network, the Group will strengthen the control over its sales team, improve its incentive mechanism, continuously promote presence in the downstream of marketing network channels, and extend it to the end market by establishing multi-mode cooperation with hospitals and pharmacies, all in a bid to contribute higher profit to the Group, develop core marketing capabilities and build a quality terminal promotion network to accommodate more products. Apart from the above, the Group will continue to enhance the development of its internal control system and risk management, pay much attention to and fulfill its corporate social responsibilities throughout the Group’s governance. The Group will offer its staff a great platform for career development, and keep working to create a greater value for the Shareholders.

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