In the third quarter of 2012, Lisheng Pharmaceutical reported that net profit attributed to listed companies fell 11.05% from January to September, achieving earnings per share of 1.40 yuan.

Comments: central Pharmaceutical Co., Ltd., revenue in the third quarter increased by 79.7%. Operating income increased by 79.7% in the third quarter, of which the revenue of the parent company increased by 20.49%, indicating a stable growth in the use of cardiovascular drugs dominated by indapamide tablets. Central Pharmaceutical Co., Ltd. was incorporated into the statement in the current quarter, resulting in a substantial increase in the total revenue of its subsidiaries by 223.53% to 140 million yuan. Because of the nearly 100 million investment income from the transfer of Takeda Pharmaceutical shares in the same period last year, net profit fell 11.05% from January to September. ? The itemized gross profit margin increases and the expense rate of the parent company decreases. The company's Q3 comprehensive gross profit margin fell to 62.45%, mainly due to the increase in revenue share of subsidiaries. The current gross profit margin of the parent company and subsidiary company is 74.96% and 51.13%, among which the gross profit margin of subsidiary company is significantly higher than that of the previous two quarters. Affected by the consolidated table, the sales expenses increased by 170.79%, and the expense rate of the parent company decreased to 13.54%. Investment suggestion: the chemical resources such as the central pharmaceutical industry make the company bigger and stronger step by step, and the original cardio-cerebrovascular drug business develops steadily. We forecast earnings per share from 2012 to 2014 of 1.80 yuan, 2.15 yuan and 2.51 yuan respectively, giving a "recommended" rating for the first time. ? The risk indicates that the drug price is reduced, and the production progress of the fund-raising project is lower than expected.