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CICC: Maintains an outperform rating on Chinares Pharma with a target price of HKD 7.3.
CICC released a research report stating that Chinares Pharma (03320) was maintaining its rating of "outperform the industry," with EPS forecasts of $0.69/$0.77 for 2024/2025 remaining unchanged, corresponding to a year-on-year increase of 12.0%/12.2%, with a target price of HK$7.3. On July 17th, the company announced that its subsidiary, China Resources Boya Bio-Pharmaceutical Group, intends to acquire 100% equity of Lvxing Hong Kong Holdings for 1.82 billion yuan. On July 11th, Dong-E-E-Jiao, a subsidiary of the company, released its performance forecast for the first half of 2024, with preliminary estimates of net income attributable to shareholders at 0.695-0.76 billion yuan, a year-on-year increase of 31-43%. CICC's main points of view are as follows:
China Resources Sanjiu Medical & Pharmaceutical (000999.SZ): The company expects double-digit growth in revenue in 2024.
China Resources Sanjiu Medical & Pharmaceutical (000999.SZ) stated at an investor relations event on July 10th that 2024 will be a key year for the company's new development stage. On the basis of stabilizing existing business, the company will focus on innovative transformation, actively carry out mergers and business cooperation, enhance core capabilities for sustainable growth, and continue to promote the integration and development of KPC Pharmaceuticals, Inc. The company expects revenue to achieve double-digit growth and net income to match revenue growth, and is currently working towards its established goals in an orderly manner.
China Resources Sanjiu Medical & Pharmaceutical (000999.SZ): Group procurement helps the company enter provinces and hospitals with previously low market share.
China Resources Sanjiu (000999.SZ) stated in an investor relations event on July 10th that the formula granule business has been in an adjustment phase for the past two years. On one hand, the national standard has been gradually introduced; on the other hand, the joint procurement led by Shandong and 15 other provinces was promoted at the end of last year. This year, some provinces have been following up. For manufacturers, they need to adapt to changes in policies and market environments, explore and adjust their business models. The company's formula granule business had a low base last year, and performance in the first quarter of this year was stable, with some opportunities expected for the whole year. Judging from the progress of the joint procurement provinces, the company's work in entering hospitals is being promoted in an orderly manner.
China Resources Sanjiu Medical & Pharmaceutical (000999.SZ): The main prescription drugs of Sanjiu have been basically included in the centralized procurement.
China Resources Sanjiu (000999.SZ) stated in an investor relations activity on July 10th that the centralized procurement of Chinese patent medicines is expected to gradually expand in scope and continue to be normalized in the future. Most of Sanjiu's prescription pharmaceuticals have been included in the centralized procurement, and as more provinces follow up on the results of the procurement, there is some pricing pressure on the products, and the company will continue to pay attention to changes in prices during the procurement renewal process. The impact of the centralized procurement on Sanjiu has already been reflected in the past two years.
China Resources Sanjiu Medical & Pharmaceutical Signs 90-Million-Yuan Energy Supply Renewal Deal
China Resources Sanjiu Medical & Pharmaceutical (SHE:000999) on Friday renewed its up to 90-million-yuan energy supply agreement with Chenzhou China Resources Gas. Chenzhou China Resources Gas will co
China Resources Sanjiu Medical & Pharmaceutical (000999.SZ): Chenzhou Sanjiu and Chenzhou China Res Gas have renewed their comprehensive energy supply agreement for the project.
China Resources Sanjiu Medical & Pharmaceutical (000999.SZ) announced that, in view of the expiration of the comprehensive energy project supply agreement signed by its wholly-owned subsidiary, Chenxian Censanjiu Pharmaceutical Co., Ltd. (hereinafter referred to as "Chenxian Sanjiu"), and Chenxian China Resources Gas Co., Ltd. (hereinafter referred to as "Chenxian China Resources Gas") on June 21, 2024, Chenxian Sanjiu and Chenxian China Resources Gas renewed the "China Resources Sanjiu (Chenxian) Pharmaceutical Co., Ltd. Comprehensive Energy Project Supply Agreement" on June 21, 2024, and Chenxian China Resources Gas continued to supply cold and hot, steam, and some electrical utilities for Chenxian Sanjiu's South China production and manufacturing center.
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