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TONGRENTANGCM (03613.HK) has entered into a technical service contract with TONG REN TANG.
On December 20, Gelonghui reported that TONGRENTANGCM (03613.HK) announced that on December 20, 2024, the company entered into a technical service contract with TONG REN TANG. Accordingly, the company entrusted TONG REN TANG with the process and technical research on important Traditional Chinese Medicine raw materials. The company shall pay TONG REN TANG a total of 5 million Hong Kong dollars in installments for the technical services. The related raw materials are an important part of the group's production of Traditional Chinese Medicine and products, playing a significant role in the quality of the production process. Considering TONG REN TANG's capabilities and expertise in Traditional Chinese Medicine manufacturing, the Director believes that the technical service contract and the Trade involved will be beneficial.
The current cycle of Traditional Chinese Medicine materials is entering a downturn phase, and pharmaceutical companies may face a cost "turning point."
In the second half of 2024, the prices of Traditional Chinese Medicine materials are expected to decline overall; the semi-annual and third quarter reports of this year show that the gross margin of some Chinese Patent Medicine listed companies has significantly decreased, indicating a notable impact of the fluctuation in Traditional Chinese Medicine material prices on costs. However, with the retreat in Traditional Chinese Medicine material prices, production costs for companies will also decrease.
The century-old brand dispute between Beijing Tongrentang and Tianjin may come to an end as the Tongrentang Group controls 60% of Tianjin Tongrentang's shares | Quick read announcement.
① Beijing Tongrentang Group acquired 60% equity of Tianjin Tongrentang Group, which may include the Tianjin Tongrentang Business into the listed company in the future. ② In 1904 and 2021, Beijing Tongrentang sued Tianjin Tongrentang for brand issues. After this acquisition, the century-old brand disputes between both sides may come to an end.
HAITONG SEC: The trend of moderate price reductions in the centralized procurement of Traditional Chinese Medicine varieties continues, and the domestic Pharmaceutical industry is expected to usher in a wave of mergers and acquisitions.
HAITONG SEC released a Research Report stating that the gentle trend of price reduction for Traditional Chinese Medicine varieties continues.
Hong Kong's Department of Health: To develop Hong Kong into a gateway for the internationalization of traditional Chinese medicine and Chinese herbal medicine.
Secretary for Food and Health of the Hong Kong Special Administrative Region, Dr. Constance Chan, stated that in order to promote the standardization and internationalization of traditional chinese medicine, Hong Kong aims to become a gateway for the internationalization of traditional chinese medicine.
TONGRENTANGCM: Interim Report 2024
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