Original title: Shenwei Pharmaceutical (02877-HK) earned 12% less dividend by 11 points in half a year Source: Caihua.com
[Caihua News] Shenwei Pharmaceutical (02877-HK) announced that its turnover for the six months ended June 30, 2020 was 1.19 billion yuan (RMB. same below), a year-on-year decrease of 13.02%; profit of $254 million, a year-on-year decrease of 11.8%. Earnings per share were 33 points, and interim interest was paid 11 points per share.
Gross margin was 73.6% compared to 71.3% for the same period last year; net assets per share of $7.1 (equivalent to HK$7.8); and net cash per share of $4.6 (equivalent to HK$5.0).
In the first six months of 2020, the Group's average gross margin of injectable products, softgel products, granule products and traditional Chinese medicine formula granular products was 75.6% (same period in 2019:73.6%), 75.3% (same period in 2019:70.1%), 70.0% (same period in 2019:67.3%) and 73.2% (same period in 2019:74.5%). Overall gross margin was 73.6% compared to 71.3% for the same period last year.
Affected by the COVID-19 pandemic, although the results for the first quarter of this year were lower than the same period last year, the Group's overall sales revenue and profit remained stable under such shocks compared to the year-on-year decline in the total number of patients treated in medical and health institutions across the country. This is due to the Group's efforts over the years to expand core competitiveness, continuously optimize R&D investment, develop exclusive formulations with unique curative effects, make products more diversified, continuously optimize production processes, and improve product quality. The drugs produced by the group have been widely recognized by medical personnel and consumers. Furthermore, with the effectiveness of domestic epidemic prevention and control, normal life order has been restored, and the impact of the epidemic on domestic medical consumption has gradually weakened in the second quarter. Although the current impact on injectable products is still significant, terminal demand for oral products is gradually recovering.