A well-known brand enterprise of proprietary Chinese medicines.
The company was first founded in 1996 and changed to a limited company on 2011/3/17. The company is mainly engaged in the cultivation of raw materials, product production and sales of traditional Chinese medicine preparations. After more than ten years of development, it has become a segmented leading enterprise with brand advantages. The company was listed by the State Administration for Industry and Commerce as a fully contract-abiding and trustworthy enterprise, and was recognized as a “high-tech enterprise” by the Ministry of Science and Technology's Torch Advanced Art Industrial Development Center three times, and the company's “Jumbo Island” trademark was recognized as a well-known trademark.
Market segment leader.
The company's high-margin products include the 37 series of products (injectable hemoconiton, hemosiderm injections, thrombostomy capsules), suxenin injections, and bone peptides for injections, which account for more than 85% of the company's revenue. They are also an important source of gross profit for the company. In 2014, the total gross profit of the three was 990 million yuan, accounting for more than 98% of the company's total gross profit.
In 2013, the company accounted for 7.4% of the market share of injectable Hesetong, ranking second, accounting for 40% of the market share of Shuxenin injections, ranking first.
The injectable osteopeptide grows rapidly.
The injectable osteopeptide was approved for production in January 2006. It has the advantages of remarkable curative effect, stable quality, and good market reputation. It has strong market competitiveness. Revenue has grown rapidly in recent years, reaching 180 million yuan in 2014, an increase of 49% over the previous year. The company raised funds to expand the production capacity of injectable osteopeptides, which is expected to become a new profit growth point for the company in the future.
Profit forecast: We expect the company's 2015-2017 net profit of 6.0, 740, and 880 million yuan, EPS of 1.42, 1.76, and 2.09 yuan respectively, and the corresponding PE of 16.6, 13.4, and 11.3 times respectively. Referring to the valuation of similar listed companies, we expect a reasonable price of about 60.74 yuan after listing.