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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
Topic: Press release summary
Source: Tianda Pharmaceuticals Limited
Sectors: Healthcare & Pharm
https://www.acnnewswire.com
From the Asia Corporate News Network
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