Tianda Pharma Interim Results 2021
Significant business growth achieved R&D efforts and BD initiatives to continue
HONG KONG, Nov 26, 2021 - (ACN Newswire) - Tianda Pharmaceuticals Limited (Tianda Pharma or the Group, stock code: 0455.HK) is pleased to announce its interim results for the six months ended 30 September 2021 (the "Reporting Period"). During the Reporting Period, all three business segments of the Group recorded significant business growth, with the total revenue reaching HK$236.5 million, representing an increase of 26.2% year on year (YOY). The Group's financial position remains strong, with net assets of HK$777.0 million, and bank deposits, cash and bank balances of HK$202.2 million, as well as unutilised bank loan facilities of HK$77.8 million as at 30 September 2021. Such strong financial position provides the Group with sufficient financial resources to support its steady business development.
The Chinese medicine business recorded revenue of HK$58.0 million, representing an increase of 64.2% YOY. In line with the national policies supporting the Traditional Chinese Medicine (TCM) industry, the Group has spent over five years establishing a complete TCM industrial chain layout, covering the trading of Chinese medicinal materials, production of TCM decoction pieces, R&D of TCM, a comprehensive Chinese medicine product portfolio, as well as domestic and overseas procurement and marketing network. The Pharmaceuticals and medical technologies business recorded revenue of HK$174.9 million, representing an increase of 16.6% YOY. The Group's major product, Tuoping Valsartan capsules, a medicine for cardio-cerebrovascular disease, is the No. 1 product of its kind in China in terms of sales volume. The Group is seizing the opportunity of the success of Tuoping in securing first place in China's Third Round of Centralized Drug Procurement with Target Quantity to further increase its sales volume. The Group's new R&D and production base in Jinwan, Zhuhai, scheduled to commence production in January next year, is poised to become a pharmaceutical and health industry base with high standard, quality and efficiency. The Medical and healthcare service business recorded revenue of HK$3.6 million, representing an increase of 79.5% YOY. During the Reporting Period, the Group opened a TDMall with a renowned Chinese medicine expert by using an equity investment cooperation model for the first time. The equity investment cooperation model will become an important means for the rapid expansion of TDMalls. The Group is also accelerating the development of a cloud technology based Chinese medicine platform "TDMall on Cloud" to provide services such as online intelligent consultation, online medical treatment and comprehensive health e-commerce to the public. Together, this online initiative and the physical TDMalls will help to develop "TDMall" into the leading brand of Chinese medical clinic.
The Group has continued to increase innovation and R&D efforts, with steady progress made in development of Classic Ancient Prescriptions, cardio-cerebrovascular drugs, pediatric drugs, and diabetes drugs, etc. Meanwhile, BD initiatives have been increased as well to integrate organically with R&D activities to improve the quality and quantity of R&D projects in its pipeline through external introduction, independent and collaborative R&D. This is to further enrich the product lines while identifying cutting-edge technological and product opportunities globally, so as to help grow the Group's business on the whole.
China has proposed in the "14th Five-Year Plan and the Long-Range Objectives Through the Year 2035" to promote the inheritance and innovation of TCM, to emphasize on the equal importance and complementary advantages of Chinese and Western medicine, and to vigorously develop the Chinese medicine business, providing favorable policy support for the Group's business development. The Group will continue to implement the "Three Developments" strategy, deepening the layout of all three business segments and actively evaluating merger and acquisition opportunities to accelerate the pace of business growth and scale expansion, so as to strive to become a leading pharmaceutical enterprise that sets its footholds in China while expanding its presence worldwide to make greater contribution to safeguarding the health of mankind.
About Tianda Pharmaceuticals Limited Tianda Pharmaceuticals Limited is engaged in the development of Chinese medicine business as foundation, development of innovative drugs and medical technologies, as well as development of quality medical and healthcare services, committed to become a leading pharmaceutical enterprise that sets its footholds in China while expanding its presence worldwide.
For enquiries Tianda Pharmaceuticals Limited Investor Relations Department Phone: +852 2545 3313 Email: ir@tianda.com
Source: Tianda Pharmaceuticals Limited Sectors: Healthcare & Pharm
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
Latest Release
JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan Apr 26, 2024 10:00 JST
| Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024 Apr 25, 2024 18:21 JST
| MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park Apr 25, 2024 17:45 JST
| GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series Apr 25, 2024 16:50 JST
| Toyota Exhibiting at Beijing Motor Show 2024 Apr 25, 2024 16:25 JST
| Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada Apr 25, 2024 11:10 JST
| UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh Apr 25, 2024 09:00 JST
| Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date Apr 24, 2024 17:19 JST
| MC and Denka Sign J/V Agreement in Fullerene Business Apr 24, 2024 17:02 JST
| Mitsubishi Motors Posts Record Sales in the Philippines in FY2023 Apr 24, 2024 13:56 JST
| NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance Apr 24, 2024 13:25 JST
| Fujitsu SX Survey reveals key success factors for sustainability Apr 23, 2024 10:25 JST
| Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions Apr 22, 2024 16:09 JST
| NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II Apr 22, 2024 15:09 JST
| Soft Space Launches the First and Only JCB Payment Gateway in Malaysia Apr 22, 2024 15:00 JST
| TOYOTA GAZOO Racing takes a one-two in Croatian thriller Apr 22, 2024 10:47 JST
| First-ever Mazda CX-80 Crossover SUV Unveiled in Europe Apr 19, 2024 13:50 JST
| Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces Apr 19, 2024 10:17 JST
| Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas Apr 18, 2024 17:01 JST
| Toyota Launches All-New Land Cruiser "250" Series in Japan Apr 18, 2024 13:39 JST
|
More Latest Release >>
|