ONERHT Foundation charity art exhibition at Chui Huay Lim Club looks at the pursuit of excellence in Chinese painting and calligraphy ACN Newswire

ONERHT Foundation charity art exhibition at Chui Huay Lim Club looks at the pursuit of excellence in Chinese painting and calligraphy

February 2, 2023
SINGAPORE, Feb 2, 2023 - (ACN Newswire via SEAPRWire.com) - ONERHT Foundation Ltd, the corporate social responsibility vehicle of RHTLaw Asia LLP and the RHT Group of Companies (collectively, "ONERHT"), together with its co-organisers Chui Huay Lim Club and Ee Hoe Hean Club, welcomes members of the public to visit its charity art exhibition and appreciate masterful Chinese paintings and calligraphy artworks.Held at the Chui Huay Lim Club's Heritage Hall, the exhibition presents Chinese paintings and calligraphy artworks by Hong Kong artists Mr Alfred Cheung and Mr Wong Wai Ho which are up for auction. Successful bidders of these artworks will have the option of converting the artwork into Non-Fungible Tokens (NFTs), merging the beautiful traditions of Chinese art with cutting edge technology for the certification of authenticity. The service is provided by AlDigi Technologies, a member of the ONERHT ecosystem of multidisciplinary professional services.The free exhibition opens to the public from 6-8 February, between 10am-6pm. An opening ceremony will be held at 10am on Monday 6 February 2023 at the venue, and the Guests-of-Honour for the opening ceremony would be A/Prof Ho Peng Kee, Patron of ONERHT Foundation, Mr Ng Hoy Keng, President of Chui Huay Lim Club and Mr Aw Chye Wee, Chairman of Ee Hoe Hean Club.In addition, various Chinese artworks by renowned artists Xu BeiHong (1895 - 1953), Chen Wen Hsi (1906 - 1991), Wang Zhen/Wang YiTing (1867 - 1938) and Lu Yanshao (1909 - 1993) have been lent to the organisers by Mr Yeo Eng Koon for public viewing at the exhibition. A painting by Cultural Medallion Award winner Mr Lee Hock Moh (b. 1947) will also be displayed at the exhibition.Funds raised through the event will be used to support three local charitable healthcare institutions: Singpapore Thong Chai Medical Institution, Ren Ci Hospital and Kwong Wai Shiu Hospital. Each with its own storied history of service to the community, these three institutions serve thousands of patients every month, regardless of background, race and religion. The funds will enable the three hospitals to expand their services and facilities to support the growing healthcare needs of an ageing population.Ms Kaylee Kwok, Chairman of ONERHT Foundation, said, "The exhibition supports disadvantaged groups and the arts, both of which are among the core pillars of the ONERHT Foundation's philanthropic mission. We welcome members of the public to visit the exhibition made possible by the efforts of our co-organisers and the generosity of our donors, sponsors and esteemed artists."Since its inception in 2015, the Foundation has with the support of its donors and sponsors been able to raise more than S$4 million for more than 24 charitable organisations.Artists ProfileMr Alfred Cheung is currently serving as the CEO of APTTPA Co., Ltd. and JC Food Republic Co., Ltd. As a hobby, Mr Cheung devotes himself to the study of Chinese painting art in his spare time. He started learning from Lingnan School renowned painter Rong Shu Shi from middle school, and acquired the know-how of lychee painting, landscape sketches, painting techniques of flowers, plants, birds and animals. He is especially good at painting plum blossoms.Mr Cheung is also appointed as a director of the Japan Hong Kong Society, consultant of the Japan Hong Kong Society in Tokyo. He has also been a special lecturer for the City University of Hong Kong, giving lectures on refrigeration logistics science and also a Fukuoka MICE ambassador. He is currently a consultant for Tsuruga port as well as marketing ambassador for Fukui Prefecture in Japan and as external advisor to HK Metropolitan University.Mr Wong Wai Ho is currently an Independent Non-Executive Director of Hong Kong listed companies i.e. Road King Infrastructure Limited (HK Stock Code: 1098) and Hang Chi Holdings Limited (HK Stock Code: 8405). He is also Chairman of Eminent EIS International Preschool and TransTEch Limited. Since young, Mr Wong has a strong interest in Chinese calligraphy. Over the years, Mr Wong has developed his own unique style and technique and his calligraphy artwork is highly appraised.ONERHT Foundation LtdA Singapore registered charity and grant-making philanthropic organisation, ONERHT Foundation Ltd enables RHTLaw Asia LLP and the RHT Group of Companies (collectively, "ONERHT") to do right and do good through various charitable endeavours.Set up by ONERHT in 2015, the Foundation was registered as a Singapore charity by the Commissioner of Charities and a grant-making philanthropic organisation by the Inland Revenue Authority of Singapore on 16 September 2016 and 28 November 2016 respectively.The Foundation seeks to establish, inspire and encourage the right philanthropic culture among the corporate and legal fraternity of giving back to the community in a focused, hands-on and meaningful manner. Since its inception, the Foundation has raised more than S$4 million to support more than 24 beneficiaries involved in education, the environment and sustainability, disadvantaged groups as well as the arts and sports. For more information, please visit www.onerht.foundationFor media enquiries, please contact:Elliot Siow / elliot.siow@rhtgoc.com / +65 8375 0417 Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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Tianda Pharma Announces 2022/23 Interim Results ACN Newswire

Tianda Pharma Announces 2022/23 Interim Results

November 25, 2022
HONG KONG, Nov 25, 2022 - (ACN Newswire via SEAPRWire.com) - Tianda Pharmaceuticals Limited ("Tianda Pharma" or "the Group"; stock code: 0455.HK) today announced its interim results for the six months ended 30 September 2022 ("the Period"). During the Period, the Group adopted proactive marketing strategy and improved its results notably. Its revenue increased by 5.6% to approximately HK$250 million. Gross profit rose by 10.2% to approximately HK$120 million and profit before taxation, depreciation and amortization turned around from loss of HK$6.9 million in the same period last year to profit of HK$2.3 million for the period. Recorded strong sales of core products and continued to optimize Chinese medicine business layoutThe Group has worked hard cultivating the cardiovascular, cerebrovascular and pediatric disease realms and owns unique generic product pipelines. Boasting notable efficacy and competitive price, Tuoping Valsartan capsules, the Group's core product for treating cardio-cerebrovascular disease, has been ranked the No. 1 best-selling product in its category in Mainland China since the success in securing first place in the nation's Centralized Drug Procurement. During the Period, sales of the product reached HK$92.3 million, representing a year-on-year growth of approximately 21%. Tuoen Ibuprofen oral suspension, a pediatric drug, was among the top three in terms of market share in the country due to effective marketing, achieving strong sales of HK$64.0 million for the Period, up approximately 70% year-on-year. The Group has basically built for itself a complete traditional Chinese medicine ("TCM") industrial chain, from trading of Chinese medicinal materials, TCM decoction pieces and formula granules to innovative Chinese medicine R&D and international trade. During the Period, it continued to increase operating product varieties, expand sales channels and strengthen procurement sources, including exporting TCM decoction pieces to Australia and planning for importing to China special variety of Chinese medicinal materials from overseas. Insisted on the inheritance and innovation of TCM, it brought in innovative Chinese medicine transformation projects and embarked on cooperation in developing innovative Chinese medicines. During the Period, overall revenue of TDMalls increased by 81%. The first clinic to adopt the equity investment cooperation model, TDMall (Tsim Sha Tsui) has famous medical experts as shareholders who also participate in the management. Starting to make profit eight months after opening, TDMall (Tsim Sha Tsui) provides valuable experience and serving as a model for expanding the business across the nation and worldwide. The Group is pushing forward with opening a TDMall in Shenzhen, another important step in expanding its presence in the Guangdong-Hong Kong-Macao Bay Area. The Group also continued to invest in "intelligent" development of Chinese medicines. The Chinese medicine cloud technology-based platform "TDMall on Cloud" of the Group played an important role in the Group's "Free Consultation and Medicine" charity campaign during the fifth wave of COVID-19 outbreaks in Hong Kong, offering comprehensive remote Chinese medicine services to the public.Strengthened R&D across the board and capability to bring in business, actively expanded revenue sourcesThe Group has insisted on combining generic drug endeavors with innovation and, via its own R&D efforts and cooperation with external R&D institutions, continued to enrich its product pipelines. During the Period, the Group increased R&D investment, spending HK$12.0 million, up 260% year-on-year, set to allow it to come up with more new products that can become new and strong growth drivers for its medium and long-term development. The Group is currently pursuing 22 R&D projects, including class I innovative Chinese medicines, class III new Chinese medicines, class III chemical drug plus APIs, class IV chemical drugs and healthcare product series. During the Period, the Group actively introduced innovative Chinese medicine transformation projects in which the industry, academia, research and medical sectors come together to develop innovative Chinese medicines for treating chronic heart failure. Such initiatives have given the Group a rich and diversified product development portfolio that covers high-end generic drugs, classic Chinese medicines, modern Chinese medicines and healthcare products. The Group also actively introduced approved proprietary Chinese medicine products. Following the acquisition of the proprietary Chinese medicine product Xiaoer Qingre Zhike Granule last year, it acquired Jianerle Granule, a proprietary Chinese medicine for children during the Period, continuing to expand its pediatric product categories. In addition, the Group launched contract development and manufacturing organization ("CDMO") and contract manufacturing organization ("CMO") businesses to expand its revenue sources and promote business development. As at the end of September 2022, it had seven contracts signed for R&D technology service mainly for liquid pharmaceutical preparations and completed production for two projects during the Period. The two business modes are expected to become growth drivers that can continuously generate revenue for the Group.Stepped up efforts in three business segments, consolidated business foundation and achieved leapfrog developmentTo seize the opportunities in the continuously expanding pharmaceutical and healthcare market, the Group will keep growing its three business segments, namely Chinese medicines, medical and healthcare services and pharmaceuticals and medical technologies, in the future. It will also speed up bringing in products and product R&D, strengthen business expansion efforts, and investment and M&As, so as to achieve leapfrog development. For the Chinese medicine business, leveraging the country's policies to vigorously help the Chinese medicine industry develop, the Group will grasp the policy dividend of TCM and continue to develop the whole industry chain, increasing the trading of Chinese medicinal materials focusing on varieties, while accelerating the development of TCM decoction pieces and formula granules, which have huge market potential. It will also actively invest in the R&D and introduction of innovative Chinese medicines, classic ancient prescriptions of Chinese medicines, finished dosages and proprietary Chinese medicines. For its medical and healthcare services business, the Group will strengthen operation of the TDMalls and speeding up expansion via building its own clinics, franchising and mergers and acquisitions, and as well using different equity investment and cooperation modes. While prioritizing the development in the Guangdong-Hong Kong-Macao Bay Area, the Group will push for nationwide and global reach. At the same time, the Group will continue to improve and perfect its "TDMall on Cloud" app to "enhance user experience", for better online and offline integration, providing patients with convenient and intelligent high-quality Chinese medicine services. On the pharmaceuticals and medical technologies business front, the Group will strive to build up its core product brands such as Tuoping and Tuoen, focusing on developing cardio-cerebrovascular and pediatric products and consolidating relevant advantages. It will also expand its sales network to cover lower-tier markets so as to booster market share and actively expand CDMO and CMO business to boost revenue. In the future, it will apply 3D tactics (BD - business development, ID - investment and development, and R&D - research and development) in developing products with market potential, especially major product types, to provide impetus for long-term sustainable development.About Tianda Pharmaceuticals LimitedTianda Pharmaceuticals Limited ("Tianda Pharmaceuticals", listed on the Hong Kong Stock Exchange, stock code: 0455.HK) implements the following development strategies: development of Traditional Chinese medicine ("TCM") as its foundation, development of innovative drugs and medical technologies, as well as development of high-quality medical and healthcare services, striving to become a leading pharmaceutical enterprise that sets its footholds in China while seeking to expand its presence worldwide. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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JBM Healthcare Announces FY2023 Interim Results ACN Newswire

JBM Healthcare Announces FY2023 Interim Results

November 25, 2022
HONG KONG, Nov 25, 2022 - (ACN Newswire via SEAPRWire.com) - JBM (Healthcare) Limited ("JBM Healthcare" or the "Group"; Stock Code: 2161), a leading branded healthcare products marketer and distributor in Hong Kong, has announced today the interim results of the Group for the six months ended 30 September 2022 (the "Reporting Period").KEY HIGHLIGHTS-- Period-on-period revenue up by 25%, totaled HK$236.8 million -- Profit attributable to equity shareholders increased by 116%, amounting to HK$21.6 million-- The Board declares an interim dividend of HK0.5 cent per share-- Proprietary Chinese medicines business witnessed robust growth of 53.1% -- Cross-border e-commerce business gained traction alongside expanded product offerings and growing customer traffic -- Foreseeable growth of traditional Chinese medicine (TCM) business bolstered by favourable policies for gaining access to Greater Bay Area markets. Despite the lingering effects of the COVID-19 pandemic and the volatile economic sentiment in Hong Kong, the Group continued to perform in a resilient manner posting total revenue of HK$236.8 million in the Reporting Period, delivering a notable increase of 25% period-on-period. Profit attributable to equity shareholders also increased by 116% period-on-period to HK$21.6 million. Such growth was primarily due to the easing of local social distancing policies, which buttressed retail spending sentiment and led to a gradual recovery of the Group's overall sales, alongside a financial subsidy from the HKSAR Government through the Employment Support Scheme.The Board declares the payment of an interim dividend for the six months ended 30 September 2022 of HK0.5 cent per share.Resilient Performance Sustained by Robust Branded PortfolioDuring the Reporting Period, the Group has made sound progress in developing its cross-border e-commerce platform, expanding the access of its products to a growing consumer base in Mainland China. Furthermore, the Group continued to implement its growth strategies to keep pace with consumer demand and market opportunities, further leveraging its unique strength to reinforce the Group's competitive position as a farsighted branded healthcare player in Asia. The promising performance was underpinned by the Group's brand management and strong commercial execution capabilities, as well as established sales network.For the branded medicines business, sales revenue saw a decline of 10.3% period-on-period to HK$56.9 million, mainly due to the adverse impact of the pandemic on retail consumption in Hong Kong and Macau Nonetheless, the category-leading AIM Atropine Eye Drops brand continued to achieve promising growth realising 11.3% sales growth.Regarding the proprietary Chinese medicines business, sales revenue delivered robust growth of 53.1%, amounting to HK$163 million, which was driven by strong momentum from its Concentrated Chinese Medicine Granules ("CCMG") business as a result of rising recognition and acceptance towards the adjunct therapeutic benefits of Chinese medicine amongst the general public. Our category leading brand, Po Chai Pills, also posted a remarkable growth of over 60% during the Reporting Period. As for health and wellness products, sales revenue registered a decline of 13.3% to HK$16.9 million during the Reporting Period, which was mainly due to lower sales of certain products in the Hong Kong retail sector, though offset by growth from Oncotype DX and the Pantogar shampoo and tonic series. Oncotype DX posted a robust growth of 19.7% with a sustained momentum during the Reporting Period. With respect to Pantogar, an effective treatment for hair loss as substantiated by clinical studies, it also gained notable success via e-commerce platforms and professional hair salon channels. Pantogar sales was boosted by the launch of a new shampoo and tonic series that feature specialised formulations for women and men.Accelerating E-commerce DevelopmentThe development of the Group's PRC cross-border e-commerce business continued to gather momentum as a result of its sustained efforts to drive expansion across product offerings, platform footholds, and customer traffic. The two self-operated flagship stores on Tmall Global Marketplace and JD Worldwide achieved significant progress in expanding market share and customer base during the Reporting Period, bolstered by the effective operation and customer service support of its dedicated cross-border e-commerce team. The Group's flagship store has earned a top 8 ranking at Tmall, while Ho Chai Kung Tji Thung San has claimed a top 5 ranking in the pain-killer category of the platform during the Reporting Period.The Group has continued to strengthen its partnership and operation with major PRC cross-border e-commerce platform customers, which witnessed a notable increase of pre-event purchase orders from B2B partners for the "6.18" and "Double 11" promotions during the Reporting Period. Apart from OTC products, the Group has been also actively enhancing its portfolio with products for tapping new potential categories to target a wider range of consumer groups. The Group's skincare and beauty products are currently sold through VIP Shop, a popular cross-border e-commerce platform for branded lifestyle products, and will be available via a growing array of cross-border e-commerce platforms.Capturing Growth Potential of Chinese MedicinesThe Group's proprietary Chinese medicine business also benefits from the government bureaus' collaborative support in facilitating the entry of Hong Kong's traditional proprietary Chinese medicines into the Greater Bay Area. Leveraging the streamlined measures for the Group's proprietary Chinese medicines portfolio to register with the Guangdong Provincial Medical Products Administration, it has successfully secured approval for registering its medicated oil brands Shiling Oil and Konsodona Medicated Oil in the Greater Bay Area.Mr. Patrick Wong, Chief Executive Officer of JBM Healthcare, said, "In the wake of adverse market sentiments, pragmatism and persistence have never been more important as we navigate through the challenges that the pandemic has introduced to the business landscape. The pandemic has heightened health awareness and accelerated consumers' shift towards a more proactive approach in managing their health and wellness, which will further shore up self-care demand. The Group, as a key proprietary Chinese medicine and CCMG market player in Hong Kong, is also well poised to tap the burgeoning market in the Greater Bay Area, supported in part by favorable policies that encourage the development of TCM in the region and which will create more prospective business opportunities.Looking ahead, we remain optimistic about the outlook for the healthcare industry. Adhering to our mission of enabling better health through self-care, we will continue to focus on developing our growth strategies based on the objectives of greater resilience and operational efficiency, and capitalise on market opportunities by helping consumers better manage their health through quality and well-trusted branded healthcare products."About JBM (Healthcare) Limited (Stock Code: 2161)JBM Healthcare is a Hong Kong-based company that markets and distributes branded healthcare products across Greater China, Southeast Asia and certain other countries. The Group is a unique field player with marketing expertise and a drug heritage that prioritises product efficacy and quality to meet consumers' healthcare needs. As a renowned healthcare brand operator in Hong Kong, the Group carries a wide-ranging portfolio of branded healthcare products comprising branded medicines, proprietary Chinese medicines and health and wellness products, which include well-recognised household brands such as Po Chai Pills, Ho Chai Kung Tji Thung San, Contractubex, BITE-X, Mederma Kids, Tong Tai Chung Woodlok Oil, Flying Eagle Woodlok Oil, Saplingtan, Shiling Oil and Konsodona Medicated Oil. JBM Healthcare has been a constituent stock of the MSCI Hong Kong Micro Cap Index since 27 May 2021. For more details about JBM Healthcare, please visit: www.jbmhealthcare.com.hk Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Singapore’s Opportunity under China’s Concept Stocks Depression SeaPRwire

Singapore’s Opportunity under China’s Concept Stocks Depression

August 3, 2022
Author: Michael(Mingyu) Li The New York Stock Exchange announced on 21 July 2022 that it had signed a memorandum of understanding with the Singapore Stock Exchange Group, which included cooperation in the listing of the Company on the two exchanges, the development of new ESG products and services, support for the development of index products of the New Stock Exchange Group and ICE Data Indicators, a subsidiary of the New York Stock Exchange, and the exploration and launch of new ETF products. The move was interpreted by the industry as an important preparation made by the Singapore Exchange for the return of Chinese concept stocks. In fact, since the "Didi incident" in 2021, the booming IPO market of Chinese concept stocks has experienced a sudden downturn. Over the past year, with the cold reception of Chinese concept stocks, Singapore has become a competition arena for various intermediaries in the US capital market and enterprises in Chinese mainland. Singapore's corporate and capital markets have ushered in a historic opportunity to integrate into the world. I. Chinese concept stocks plunged Since October 9, 1992, Brilliance Auto (NYSE: CBA), as the first Chinese company listed overseas, has landed on the New York Stock Exchange. The Chinese concept stocks have experienced 30 years of ups and downs. Up to now, there are more than 280 Chinese companies listed in the United States, approaching the digital mark of 300. Behind the simple figure of "30 years, 300 enterprises" are countless exciting business legends, and it is also the grand history of Chinese enterprises' integration into the global capital market. Although Sino-US relations have taken a sharp turn for the worse in recent years, the number of Chinese companies listed in the United States has not been affected before the first half of 2021, and has remained at around 30 or 40 a year (see figure below) However, since the "Didi incident" at the end of June 2021, the environment for Chinese companies to list in the United States has suddenly dropped to a freezing point. Of the 41 Chinese concept stocks listed in 2021, 38 completed their IPO in the first half of the year before the "Didi incident", while only 3 Chinese companies were listed in the United States in the second half of the year. As of the end of July 2022, only seven Chinese companies (including one OTC transfer) have been listed successfully in the U.S. Behind the sharp drop in the number of listings is a "regulatory storm" in China and the United States over Chinese concept stocks. In the United States, the SEC's Holding Foreign Companies Accountable Act makes it clear that U.S. listed companies need to disclose audit papers, or face delisting risk; At the same time, the SEC has added a large number of questions about the VIE structure and the impact of industry policies on the Chinese concept companies submitting the prospectus, which has overwhelmed these companies to be listed. In China, China National Internet Information Office has made clear the pre-set rules for data security verification for overseas listed companies; On December 24, 2021, the China Securities Regulatory Commission (CSRC) issued the Measures for the Administration of Overseas Securities Issuance and Listing of Domestic Enterprises (Draft for Solicitation of Opinions), which specifies the procedures for filing with the CSRC for overseas listing of domestic enterprises. While the number of newly listed companies has plummeted and there has been a regulatory storm, the listed Chinese concept stocks have also suffered a severe fall in the secondary market in the past period. According to Wind data, as of April 2022, in just one year, the share prices of 49 Chinese concept companies in the United States have fallen by 90% from their highs, while the share prices of 113 companies have fallen by 80%. A large number of investors in the Chinese concept stocks have fallen short of success. II. Singapore's Cooperation with Wall Street Looking back over the past few decades, Singapore's interaction with Wall Street in the capital market has not been much. According to the statistics of Office Address in Singapore, as of the end of June 2022, there were only 28 Singaporean companies listed in the United States. Among them, there are also 9 SPACs. Of these 28 companies, 17 have completed IPO after 2020. Excluding SPAC, 9 of the 19 US-listed Singapore companies went public after 2020. (see figure below) In other words, the number of companies listed in the U.S. in Singapore in the past two years is the sum of the past few decades, and it is still increasing. The reason is that, on the one hand, after the cold of Chinese concept stocks, various intermediaries in the US capital market (securities firms, lawyers, auditors, etc.) went to Singapore one after another to explore projects. During my recent two-month business trip in New York, almost all the relevant capital market institutions concerned were discussing Singapore. On the other hand, the SEC and the Exchange also offer special preferential treatment to Singaporean enterprises. One obvious difference is that after the China concept stocks submitted their prospectus to the SEC, most of them received dozens of questions in the first round. During the same period, Singapore companies that submitted their prospectuses to the SEC often received no more than ten questions in the first round, which led to a significant advantage in the efficiency of Singapore companies' listing in the United States. The listing of NIO on the Main Board of the Singapore Stock Exchange on May 20, 2022 and the signing of the contract between the New York Stock Exchange and the Singapore Stock Exchange Group on July 21, 2022 have also brought to light the opportunity for Singapore's capital market to accept the return of Chinese concept stocks and serve as a secondary listing and tertiary listing destination. III. How should Singapore seize this rare opportunity First of all, for the growing Singapore enterprises, cooperating with Wall Street and entering the world's most liquid capital market, they can obtain more capital to help the enterprises develop. This historical opportunity can be firmly grasped by showing the world one's own image through being a listed company. Secondly, for the investors in Singapore, in the process of the excellent Singapore enterprises moving to the global capital market, both regular IPO and SPAC contain a large number of investment opportunities worth exploring. A number of outstanding Singapore investment institutions have already taken active actions. For example, Horizon Holdings and StarOn Capital Group, a Singapore-based capital group, recently planned to set up Pre-IPO funds in China and Singapore to explore outstanding Singaporean companies. Thirdly, for Singapore's own capital market, it continuously improves the mechanism, devotes itself to improving liquidity, and attracts excellent Chinese concept stocks to be listed twice or thrice in Singapore, or even return directly. This is also a once-in-a-lifetime opportunity. In sum, the times create heroes. In the face of the downturn of China's concept stocks, Singapore should take the opportunity to encourage the excellent enterprises supporting Singapore to participate in the global capital market in various ways. On the other hand, it will optimize its capital market structure to attract outstanding Chinese concept companies. It is expected that more and more Singaporean enterprises will create legends on Wall Street and Singapore will become the second hometown of more and more Chinese concept stocks. (The writer is the Chairman of Horizon Holdings, Partner of StarOn Capital Group and financial investment adviser, Director of Jinang Qianfeng Capital Management Co., Ltd., and a senior capital operations expert.)
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Tianda Pharmaceuticals Annual Results 2022 ACN Newswire

Tianda Pharmaceuticals Annual Results 2022

June 30, 2022
HONG KONG, Jun 30, 2022 - (ACN Newswire via SEAPRWire.com) - Tianda Pharmaceuticals Limited (Tianda Pharmaceuticals or the Group, stock code: 0455.HK) is pleased to announce its annual results for the year ended 31 March 2022. During the Reporting Period, the Group's business attained further development as revenue reached HK$510.0 million for the Current Financial Year, representing an increase of 7.5% compared to last year. Innovation and R&D made steady progress with R&D expenses increasing 34.7% year on year (YOY) to HK$15.9 million. With cash and cash equivalents of approximately HK$334.0 million as of 31 March 2022, the Group has sufficient financial resources to support its business development. To celebrate the 10th anniversary of the change of the Group's name to "Tianda Pharmaceuticals Limited", the Board of Directors recommended the payment of a final dividend of HK0.26 cent per share and a special dividend of HK0.56 cent per share to reward its shareholders for their support and trust over the years.The new R&D and production base located in Jinwan, ZhuhaiThe Pharmaceuticals and medical technologies business revenue reached HK$396.1 million, an increase of 10.7% YOY. The Group focuses on products and technology, actively introducing, developing and acquiring innovative drugs, generic drugs, healthcare products, and medical devices for cardiovascular and cerebrovascular, women and children, and respiratory system diseases, oncology and rehabilitation. The Group's major product, Tuoping Valsartan capsules, a medicine for cardio-cerebrovascular disease, became the No. 1 product in its category in China by sales quantity as it seized the opportunity of the success in securing first place in the nation's Third Round of Centralized Drug Procurement with Target Quantity to supply nationwide, which increased both sales and brand awareness. Through the integration of sales teams and channels, the Group's medicines, especially the pediatric drugs, Tuoen Ibuprofen oral suspension and Ibuprofen suspension drops, also achieved satisfactory sales growth. The Group's new R&D and production base in Jinwan, Zhuhai has commenced operations, with an investment of HK$430 million for the first phase of the development and is equipped with imported and domestic advanced automated equipment. The new base is poised to become a pharmaceutical and health industry base with high standard, quality and efficiency through innovation development, accelerated product lines enrichment and production capacity improvement. Five CDMO/CMO contracts have been successfully signed.The Chinese medicine business revenue reached HK$106.5 million, down 4.9% YOY. In the first nine months of the Reporting Period, the Chinese medicine business achieved faster growth by utilizing various methods to form mutually beneficial cooperation with partners such as medicinal materials farmers, cooperatives, distributors and pharmaceutical companies for building a nationwide and global business network for the Chinese medicinal materials business. Going forward, the Group will adopt a variety-centric approach to focus on domestic and overseas trading of Chinese medicinal materials, production and sales of TCM decoction pieces and formula granules, and distribution business, integrating quality resources from upstream to downstream for the industry.The Medical and healthcare services revenue reached HK$7.4 million, an increase of 57.4% YOY. The Group steadily advances the development of the modern Chinese medical clinic "TDMall" through self-construction, franchising and mergers and acquisitions. The priority is to expand in the Guangdong-Hong Kong-Macao Greater Bay Area while making plans for a national and global rollout. TDMalls have been opened in Zhuhai, Hong Kong and Sydney successively since 2019 with the aim to build the global chain operation model under three different local laws and regulations for Chinese medicine. Meanwhile, Zhuhai TDMall became the first Chinese medicine clinic in the world to receive both the ISO 9001:2015 Quality Management System Certification and Qualicert International Service Quality Certification. As part of its caring for people's health and CSR initiatives, the Group launched the "TDMall Cloud-based Global Anti-epidemic Chinese Medicine Platform" amid the fifth wave of the COVID-19 pandemic in Hong Kong in early 2022 to support the Group's "Free Consultation and Medicine" charity campaign to provide the public with comprehensive remote Chinese medicine services from prevention, treatment to rehabilitation, as well as Chinese medicine services for mitigating long COVID.China's "14th Five-Year Plan" proposes to comprehensively promote the construction of a healthy China, placing the protection of people's health as a strategic priority for development and providing people with comprehensive life-cycle health services. Adhering to the corporate slogan of "Tianda for Health!", the Group will continue to execute the strategy of "development of Chinese medicine business as a foundation, development of innovative drugs and medical technologies, as well as development of quality medical and healthcare services", implementing the "3D+1S" initiatives (business development (BD), research and development (R&D), investment and development (ID), and marketing & sales (S)) working in tandem to continuously enrich product lines and improve the quality and quantity of R&D projects in the pipeline through an external introduction, R&D, and mergers and acquisitions (M&A), as well as to identify cutting-edge technologies and products and quality projects worldwide in an effort to achieve high-quality development, so as to make a greater contribution to safeguarding the health of mankind.About Tianda Pharmaceuticals LimitedTianda Pharmaceuticals Limited is engaged in the development of the Chinese medicine business as a foundation, development of innovative drugs and medical technologies, as well as development of quality medical and healthcare services, committed to becoming a leading pharmaceutical enterprise that sets its footholds in China while expanding its presence worldwide.For enquiriesTianda Pharmaceuticals LimitedInvestor Relations Department Phone: +852 2545 3313 Email: ir@tianda.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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