hang – PressAP

ACN Newswire

ESG reporting: Hang Seng companies have transparency shortcomings

December 15, 2022

HONG KONG, Dec 15, 2022 - (ACN Newswire via SEAPRWire.com) - Companies in the Hang Seng Index rank in the midrange internationally in terms of the quality of their ESG reporting. This is the finding of the Global ESG Monitor 2022 (GEM), Regional Report Hong Kong/China (https://globalesgmonitor.com/download-report/), published today. The GEM is considered an international leader in analysing the non-financial reporting of leading companies in Europe, North America, Asia and Australia. According to the latest GEM study, the companies listed in the Hang Seng Index score an average of 57 points out of a maximum possible 100 points for the transparency of their non-financial reports. This result places the Hang Seng Index at the lower end of the midrange among the total of ten international indices from North America, Europe, Asia and Australia that were examined as part of the GEM, and ranks just above the level of S&P Asia (56 points) and Australia's ASX50 (53 points).At the top of the index league are three companies - sports equipment supplier Anta Sports Products (02020.HK), financial services provider Hang Seng Bank (00011.HK) and Internet services provider and software developer Tencent Holdings (00700.HK) - on a score of 77. Sands China (01928.HK) and HSBC Holdings (00005.HK) rank the 4th and 5th among the blue chips with 75 and 74 points respectively. Other companies among the top ten include Lenovo Group (00992.HK), Power Assets (00006.HK), Henderson Land Development (00012.HK), China Mobile (Hong Kong) (00941.HK) and Hang Lung Properties (00101.HK). With a rate of 97 percent, a generally high level of willingness exists among Hang Seng Index companies to base their non-financial reporting on a standard international framework. In a global comparison, however, they tend to be more focused with an average of 6.7 referenced frameworks and standards. This is also reflected, among other things, in the length of the reports, which rank among the most concise of the ten indices examined. "As you go through the Hang Seng data, you then notice that this focus is not always an advantage," comments Ariane Hofstetter, co-founder and Head of Research and Data Science at GEM. "In many cases, there's a lack of important details that would lead to better comprehensibility, reliability and comparability of the data."Contextual information such as company size, number of employees and product and service portfolio is comparatively well established in non-financial reporting. Four out of five companies surveyed (81 percent) also describe the environmental parameters in which they operate. However, Hang Seng companies are less likely to address socioeconomic or political conditions (75 percent and 54 percent respectively). And only one-third (32 percent) from this group report on their value chains. "Greater sustainability nevertheless also requires close collaboration along the entire supply chain. How well Hang Seng companies achieve this undertaking remains in part an open question. Because here, too, there's a lack of information that enables the information to be classified," notes Michael Diegelmann, co-founder of GEM. "Although 83 percent of the reports contain descriptions of supply chains, once again there's a lack of detail to help rank the risks associated with the supply chain." For example, slightly less than a third of the companies provide information on the type of suppliers they do business with, and just under half state the estimated number of suppliers along the supply chain.The relevant topics of Environment, Social and Governance are covered by a majority of Hang Seng companies in their non-financial reports. Around a third, for example, say they are already climate-neutral. A further 44 percent aim to achieve this objective in the future. In contrast to this statement, however, only three-quarters of companies identify their main sources of emissions in their reports and outline the biggest challenges they face in terms of climate-related emissions.In the area of social issues, the topic of employee and human rights is not one of the most present in Hang Seng reporting. For example, 82 percent fail to state the extent to which specific incidents of discrimination and harassment have occurred. In contrast, the reports reflect more transparency on the subject of health and safety, where 89 percent of companies state their position - even though only seven out of ten companies report more specifically on "the number and rate of fatalities due to work-related injuries" and only a quarter provide information on "the number and rate of work-related injuries with serious consequences".When it comes to governance, reporting by Hang Seng companies tends to focus more on structures and less on the functioning of the supervisory board. Around seven out of ten companies report how they ensure or promote their supervisory boards' collective knowledge about financial and non-financial issues and decisions. Only just under two-thirds of the companies (64 percent) report on the supervisory board's role when it comes to assessing environmental and social risk management. The scores are particularly low in connection with critical concerns and issues reported to the supervisory board. Here, only a quarter of the companies provide information, with only four percent then being specific and outlining the total number of critical concerns that were communicated to the supervisory board. "One reason many reports lack detail and transparency is that they are prepared according to the HKEX ESG reporting guidelines," is Diegelmann's assessment. "This is where it then becomes noticeable that these guidelines have lower minimum requirements and don't go into much depth, especially compared to the Global Reporting Initiative requirements."Among Hang Seng Index companies, it is also striking that there is little willingness to submit the non-financial report to an auditor. Only just under one-third of issuers (32 percent) issue a corresponding audit engagement. It is striking that in 70 percent of the cases no information was provided on the depth of the audit and only 16 percent of the reports were audited with "reasonable assurance"."Hang Seng companies are generally convinced that their development towards greater sustainability must be accompanied by appropriate reporting," is the conclusion of Joanne Chan, Regional Partner Hong Kong and Managing Director at LBS Communications Consulting Limited. "However, an enormous amount of work will be required for Hang Seng companies to ensure that their reports can contribute to sustainable change through transparency."Full report : https://globalesgmonitor.com/download-report-form/For more information on the rating criteria and details of the report, please visit https://lbs-comm.com/global-esg-monitor-2022-report-scorings-is-out-now-two-hong-kong-companies-were-ranked-top-ten/About the Global ESG Monitor (GEM)The Global ESG Monitor (GEM) is a unique research initiative to examine transparency in non-financial reporting of the largest companies in the world. The GEM monitors, analyzes and reports on the transparency of non-financial ESG reporting using the GEM ASSAYTM, a proprietary research tool adapted annually in response to evolving conditions and developments. The operationalization of transparency underlying the GEM ASSAYTM is based on the relevant guidelines of Global Reporting Initiative (GRI), ISO Standard 26000, World Economic Forum (WEF) and Accountability. If you have any media enquiries, please contact LBS Communications Consultants Limited.www.lbs-forum.comJoanne Chan Tel : (852)3679 3671 Email : jchan@lbs-comm.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Nissin Foods Announces 2022 Q3 Results

November 10, 2022

HONG KONG, Nov 10, 2022 - (ACN Newswire via SEAPRWire.com) - Nissin Foods Company Limited ("Nissin Foods" or the "Company", and together with its subsidiaries, the "Group"; Stock code: 1475) today announced its financial results for the nine months ended 30 September 2022 ("the Reporting Period"). Revenue of the Group increased solidly by 7.8% year-on-year ("YoY") from HK$2,858.6 million to HK$3,081.9 million. Revenue from Hong Kong and China operations respectively grew 11.6% to HK$1,156.6 million and 5.7% to HK$1,925.2 million YoY. Gross profit grew 8.2% YoY to HK$973.5 million (2021: HK$899.4 million) with gross profit margin increased by 0.1 percentage point to 31.6% (2021: 31.5%). Profit attributable to owners of the Company was HK$237.3 million.The growth in overall gross profit margin and revenue of Hong Kong and Mainland China operations is mainly due to the price adjustments implemented during the Reporting Period. Moreover, for Hong Kong operations, good demand for instant noodles and frozen foods contributed to the revenue growth. For Mainland China operations, growth in sales volume for the cup-type instant noodles also benefits its revenue increase during the Reporting Period.Mr Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said, "The Group achieved resilient business performance in Hong Kong and Mainland China in spite of global and regional uncertainties during the Reporting Period, thanks to the prudent strategies such as cost-saving measures and price adjustment we implemented. Looking forward, we will remain conscious of the business environment and take necessary measures to improve our production efficiency and flexibility, as well as to enhance our product portfolio in order to delight our consumers and create long-term value for all stakeholders."About Nissin Foods Company LimitedNissin Foods Company Limited (The "Group"; Stock code: 1475) is a renowned food company in Hong Kong and Mainland China with a diversified portfolio of well-known and highly popular brands and the largest instant noodle company in Hong Kong. The Group officially established its presence in Hong Kong in 1984. The Group primarily manufactures and sells instant noodles, frozen foods and other food products under its two core corporate brands, namely "NISSIN" and "DOLL" together with a diversified portfolio of iconic household premium food brands. The Group's five flagship product brands, namely "Cup Noodles", "Demae Iccho", "Doll Instant Noodle", "Doll Dim Sum" and "Fuku" are also among the most popular choices in their respective food product categories in Hong Kong. In the Mainland China market, the Group has introduced technology innovation through the "ECO Cup" concept and primarily focuses its sales efforts in first-and second-tier cities. Nissin Foods is a constituent of eight Hang Seng Indexes, namely: Hang Seng Composite Index, Hang Seng Consumer Goods & Services Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng Stock Connect Hong Kong SmallCap Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng SCHK ex-AH Companies Index, and Hang Seng Small Cap (Investable) Index. For more information, please visit www.nissingroup.com.hk. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Nissin Foods Wins Bid for Acquiring Equity Interest in Zhuhai Winner at RMB352.44 Million

November 7, 2022

HONG KONG, Nov 7, 2022 - (ACN Newswire via SEAPRWire.com) - Nissin Foods Company Limited ("Nissin Foods", and together with its subsidiaries, the "Group"; Stock code: 1475) announced that its wholly-owned subsidiary Nissin Foods (China) Holding Co., Ltd. ("Nissin Foods China") has won a bid for 29.55% equity interest in Zhuhai Golden Coast Winner Food Products Limited ("Zhuhai Winner") (the "Proposed Acquisition") at RMB352.44 million.An indirect subsidiary of Nissin Foods, Zhuhai Winner is 70.45% owned by Winner Food Products Limited, a wholly-owned subsidiary of the Company, and 29.55% owned by Zhuhai Western Development Co. Upon completion of the Proposed Acquisition, Zhuhai Winner will become an indirect wholly-owned subsidiary of Nissin Foods.Zhuhai Winner is a manufacturer and distributor of instant noodles for Nissin Foods. Its principal activities include production and sale of instant noodles, seasonings, paper food containers and plastic packaging containers. Mr Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said, "We believe the Proposed Acquisition, if materialised, will give us greater flexibility to deploy production capabilities in Hong Kong and Mainland China to respond to market demand and the changing business environment. It will also present a good opportunity to the Group to advance our instant noodles production and distribution, as well as seize the long-term growth trends in the Mainland China, which will in turn bolster the Group's overall income and profitability. The move is also proof of our long-term commitment to the instant noodles business in Hong Kong and Mainland China which is in line with our strategic direction." About Nissin Foods Company LimitedNissin Foods Company Limited (The "Group"; Stock code: 1475) is a renowned food company in Hong Kong and Mainland China with a diversified portfolio of well-known and highly popular brands and the largest instant noodle company in Hong Kong. The Group officially established its presence in Hong Kong in 1984. The Group primarily manufactures and sells instant noodles, frozen foods and other food products under its two core corporate brands, namely "NISSIN" and "DOLL" together with a diversified portfolio of iconic household premium food brands. The Group's five flagship product brands, namely "Cup Noodles", "Demae Iccho", "Doll Instant Noodle", "Doll Dim Sum" and "Fuku" are also among the most popular choices in their respective food product categories in Hong Kong. In the Mainland China market, the Group has introduced technology innovation through the "ECO Cup" concept and primarily focuses its sales efforts in first-and second-tier cities. Nissin Foods is a constituent of eight Hang Seng Indexes, namely: Hang Seng Composite Index, Hang Seng Consumer Goods & Services Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng Stock Connect Hong Kong SmallCap Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng SCHK ex-AH Companies Index, and Hang Seng Small Cap (Investable) Index. For more information, please visit www.nissingroup.com.hk.For media enquiries:Nissin Foods Company LimitedPublic Relations DepartmentBlanche Wong / Mabel TanEmail: pr@nissinfoods.com.hkFor investor enquiries:Nissin Foods Company LimitedInvestor Relations DepartmentShingo Yamazaki / Fanny Yan Email: ir@nissinfoods.com.hkStrategic Financial Relations LimitedVicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hkAggie Fang Tel: (852) 2114 4987 Email: aggie.fang@sprg.com.hkMaggie Ko Tel: (852) 2864 4890 Email: maggie.ko@sprg.com.hk Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

China Risun’s 2022 Interim Revenue Ups 21.1% to RMB22.53 Billion, Profit Attributable to Owners was RMB1.74 Billion

August 29, 2022

HONG KONG, Aug 29, 2022 - (ACN Newswire via SEAPRWire.com) - China Risun Group Limited ("China Risun", or the "Group", stock code: 1907), a leading global integrated coke, coking chemicals and refined chemicals producer and supplier and relevant operation management services provider in China, has announced its interim results for the six months ended 30 June 2022 ("the reporting period"). During the reporting period, the Group grew and expanded by way of provision of operation management services together with the formation and acquisition of entities by focusing on opportunities in both China and overseas. Revenue for the six months ended June 30, 2022 was approximately RMB22.53 billion, representing an increase of approximately 21.1%. Profit attributable to owners of the Company was approximately RMB1.74 billion, up approximately 0.8%. Basic earnings per share of the Company was RMB39.14 cents. To share the fruit of its outstanding results performance, the Board determined to declare an interim dividend of RMB12.30 cents per share (for the six months ended June 30, 2021: RMB12.30 cents).Steady expansion of coke businessSelf-built production progressing wellDuring the reporting period, revenue derived from the coke and coking chemicals manufacturing business continued to increase, up 20.2% to RMB9,262.7 million. As at January 1, 2022, the Group had the annual production capacity of coke amounting to approximately 11.05 million tons and there were two expansions of the production capacity of coke in Huhhot and Sulawesi Production Bases under construction. Trial run of the first phase of coke production facility with an annual capacity of 1,500,000 tons in Huhhot Production Base was completed and construction of the coke production facility with the remaining 1,500,000 tons per annum will be completed by the end of the first quarter of 2023. The expansion in Sulawesi Production Base will be completed in different phases in mid of 2023 and early 2024.For the operation management service section, the Group expanded the coke operation management services into Henan Province, the PRC in June 2022, where the Group is responsible for the provision of integrated sales and marketing services to a coke enterprise with an annual coke production volume of 1,000,000 tons. At the end of the reporting period, there are a number of operation management services carried out by the Group.Continue to enhance the production capacity of refined chemicals facilities Becoming one of the leading producers in the worldThe group's refined chemical manufacturing business continued to grow with revenue from this sector increased by 18.7% to RMB7,245.9 million. During the reporting period, the Group invested and enhanced the capacity of caprolactam (CPL) in the production line of aromatic chemicals in Cangzhou and Dongming Production Base, which can be used for manufacturing nylon, fibers and plastics. The Group estimated that the annual production capacity of CPL will be 750,000 tons by the end of 2022, ranking as one of the leading producers in the world.Accelerate the development of hydrogen energy business and achieve phased results The Group had hydrogen production, storage, transportation, hydrogenation to usage together with radiation of intelligent supply of hydrogen in three different production bases, which were Dingzhou, Xingtai and Huhhot. Among these three production bases, the hydrogen production facilities in Dingzhou with a daily production capacity of 13,000 kg and Dingzhou hydrogen refueling station commenced operation during the Reporting Period. China Risun is going to participate actively into the hydrogen industrialization plan in different cities in the PRC. In March 2022, the Group set up a new subsidiary in Baoding in Hebei Province, which will be engaged in the following businesses, (i) development of application of hydrogen energy heavy truck and hydrogen bus together with hydrogen-electric oil and gas energy stations; (ii) development of the transportation line for agricultural products from Baoding to Beijing and areas adjacent to Beijing; (iii) development of hydrogen bus application in Baoding; and (iv) long-distance hydrogen pipeline feasibility study and exploration on cost reduction of transportation of hydrogen. Moving forward, focusing on the rapid development of hydrogen energy industry in Beijing-Tianjin-Hebei area, the Group is committed to expanding its intelligent supply of hydrogen to the whole country with advanced technology and more customer-oriented services.Expand geographical layout to IndonesiaOpen up global marketThe Group expanded its geographical layout from the PRC to Indonesia in the second half of 2021 by establishing business partnerships by way of the formation of three joint ventures. Three joint ventures located in IMIP are under development as planned, with Risun Wei Shan New Energy (Indonesia) Company Limited expected to commence production gradually from the mid of 2023.Looking forward to the second half of 2022, the Group will continue to increase the market share in the independent coke market and certain refined chemicals market by expanding the annual coke production capacity, entering into different operation management services together with mergers and acquisitions (including forming joint ventures). The Group will also keep engaging in green and low-carbon practices, driving the industrial chain in the reduction of carbon emissions and striving to be one of the leaders in carbon peak and neutrality in the coke and chemical industry in the PRC.About China Risun Group LimitedChina Risun Group Limited is the world's largest independent producer and supplier of coke by volume in 2021, according to Frost & Sullivan. China Risun is an integrated coke, coking chemicals, refined chemicals and hydrogen energy products producer and supplier and relevant operation management services provider in China and occupies leading positions in a number of refined chemicals sectors both in China and globally. The vertically-integrated business model together with more than 27 years of experience in the coal chemicals industry production chain has enabled China Risun to further tap the downstream refined chemicals markets and hence diversify its income sources and create greater value. China Risun has been listed on the main board of the Hong Kong Stock Exchange since March 2019 and is now included in various index series, including the Hang Seng Composite Index, Hang Seng Composite Industry Index - Materials, Hang Seng Composite MidCap Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng SCHK ex-AH Companies Index, Hang Seng Stock Connect Hong Kong Composite Index, Hang Seng Large-Mid Cap (Investable) Index, Hang Seng Large-Mid Cap Low Volatility Comprehensive Index, Hang Seng Large-Mid Cap Quality Comprehensive Index, Hang Seng Large-Mid Cap Low Size Comprehensive Index, Hang Seng Large-Mid Cap Dividend Yield Comprehensive Index, Hang Seng Large-Mid Cap Momentum Comprehensive Index, Hang Seng Large-Mid Cap Value Comprehensive Index, Hang Seng Large-Mid Cap Equal Weighted Factor Mix (QVLM) Index and Hang Seng Large-Mid Cap Risk Parity Factor Mix (QVLM) Index. China Risun is also included in FTSE GEIS: FTSE Global Small Cap Index, FTSE Global All-Cap Index (LMS) and FTSE Global Total-Cap Index (LMSu).For more details, please visit http://www.risun.com/En/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Sino Biopharmaceutical (1177.HK) Announces 2022 lnterim Results, Revenue up by 5.9% to RMB15.19 billion

August 23, 2022

HONG KONG, Aug 23, 2022 - (ACN Newswire via SEAPRWire.com) - Sino Biopharmaceutical Limited ("Sino Biopharmaceutical" or the "Company", together with its subsidiaries, the "Group") (HKEX:1177), a leading innovation-driven pharmaceutical conglomerate in the PRC, has announced its unaudited Interim results for the six months ended 30 June 2022 (the "Period").Development Highlights-- The Group achieved considerable sales growth from a number of new products and oncology products, with sales of new products launched within five years accounted for approximately 43.5% of the Group's total revenue in the first half of 2022, up from approximately 36.9% for the same period last year.-- As of 30 June 2022, the Group had a total of 40 innovative drug candidates in the oncology field, 8 innovative drug candidates in the field of liver disease, 9 innovative drug candidates in the respiratory system field in development process for clinical application, and 1 innovative drug candidate in the field of surgery/analgesia in phase III clinical trial. Furthermore, the Group had a total of 23 biosimilar or generic drug candidates in the oncology field, 9 other biosimilar or generic drug candidates in the surgical/analgesic field, 5 biosimilar or generic drug candidates in the field of liver disease and 20 biosimilar or generic drug candidates in the respiratory system field in development process for clinical application.-- Focus V (Anlotinib Hydrochloride Capsules) was approved for the fifth indication-differentiated thyroid cancer in the first half of 2022. To date, Anlotinib has been approved for five indications: third-line non-small cell lung cancer, third-line small cell lung cancer, soft tissue sarcoma, medullary thyroid cancer and differentiated thyroid cancer.-- TDI01 is a highly selective inhibitor of ROCK2 and is currently in development process of phase I clinical trial for the target indications of pneumoconiosis, pulmonary fibrosis and graft versus host disease. There is no approved drug for pneumoconiosis worldwide, TDI01 is expected to fill this gap and be a boon to pneumoconiosis patients. -- SFT-1001 and SFT-1003 are two soft mist inhalation products that are currently in late clinical stage. As of 2021, there are only five soft mist inhalation products available worldwide, with a global market size of over US$3 billion and a compound growth rate of over 35% in the past five years, and the global soft mist market is expected to each US$7 billion by 2030.During the Period, the Group recorded revenue of approximately RMB15.19 billion, an increase of approximately 5.9% against last year. Profit attributable to the owners of the parent company was approximately RMB1.92 billion. Earnings per share attributable to the owners of the parent company were approximately RMB10.30 cents. Excluding the share of profits and losses of associates and a joint venture (net of related tax and non-controlling interests), certain non-cash items and one-off adjustments, adjusted non-HKFRS profit attributable to the owners of the parent was approximately RMB1.66 billion, an increase of approximately 4.5% over that in the same period last year. Sales of new products accounted for approximately 43.5% of the Group's total revenue for the period, while it was approximately 36.9% for the same period last year. The Group's liquidity remains strong, with cash and bank balances classified under current assets of approximately RMB7.77 billion, bank deposits classified under non-current assets of approximately RMB6.84 billion, and wealth management products of approximately RMB7.64 billion in aggregate, the Group's total fund reserve was approximately RMB22.25 billion at the period end.The Board of Directors has declared the payment of an interim dividend of HK6 cents per share. (2021: HK4 cents).Sales: Harvested years of R&D results, sales of new products as a percentage to revenue climbedThe Group has obtained significant benefits from years of high research and development, and continues to focus on development of related products in the areas of specialist therapeutic. During the period, the sales revenue of new products launched within five years was approximately RMB6.61 billion, accounting for approximately 43.5% of the total revenue of the Group from approximately 36.9% last year.During the Period, the Group's oncology, liver disease and cardio-cerebral vascular medicines continued to lead in sales contribution. Sales of oncology medicines increased by 16.7% year-on-year to approximately 4.96 billion, accounting for approximately 32.6% of the Group's revenue. Sales of liver disease (hepatitis) medicines and cardio-cerebral vascular medicines increased by approximately 11.1% and 13.8% year-on-year to approximately 2.01 billion and 1.55 billion, respectively, accounting for approximately 13.2% and 10.2% of the Group's revenue. In addition, the sales contributions of products in various areas such as surgery/analgesia, respiratory system and others went up hand-in-hand. Sales of surgery/analgesia and respiratory system medicines accounted for approximately 16.6% and 10.0% of the Group's revenue, respectively.In the area of oncology, since its launch in 2018, the revenue from sales of Anrotinib has continued to grow rapidly and is expected to grow at a compound rate of 46% in the period between 2018 and 2022. During the Period, sales of Annike (Penpulimab monoclonal antibody injection) increased significantly against the same period last year. F-627 (Efbemalenograstim alpha, long-acting granulocyte colony-stimulating factor) is currently under marketing application stage. It provides a safety advantage over mainstream second generation products currently on the market, is expected to be approved in China in the first half of 2023.In the area of surgery/analgesia, the Group focused on hospital access and high-potential area development, specifically on developing and increasing coverage of secondary hospitals and community healthcare facilities, driving the rapid growth of Debaian (Flurbiprofen) Cataplasms in the first half of the year.In the area of liver disease, the Group made efforts to strengthen academic promotion so as to expand doctor coverage and enhance expert recognition, as well as actively identified new patients and new market to develop, driving the rapid growth of sales revenue of Tianqing Ganmei Injection during the Period.R&D: Continued to focus on new products in specialist therapeutic areasThe Group has continued to focus R&D efforts on new oncology, surgery/analgesia, hepatitis, respiratory system and cardio-cerebral vascular medicines. As of 30 June 2022, a total of 418 pharmaceutical products had obtained clinical trial approval, or were under clinical trial or applying for production approval. Of them, 29 were for under hepatitis, 230 for oncology, 31 for respiratory system medicines, 9 for endocrine, 16 for cardio-cerebral medicines, 3 for surgery, 4 for analgesia and 96 for other medicines.Prospects: Two-pronged approach of independent research and development, focusing more on products with high innovation and market potentialIn the future, the Group will build a healthier, more diversified and sustainable revenue structure by continuing to build on traditional public hospital sales, invest more resources in new marketing channels and new marketing tools, and gradually expanding their share of revenue. In view of the potential impact of the national volume-based procurement policy on generic drugs, the Group has re-evaluated and optimised its product lines under development from the perspective of innovation and market value, focusing more on products highly innovative and with market potential.The Group will continue to invest more resources in innovative R&D facilities, personnel and projects. Innovation has become a key driver of growth for the Group, with the share of revenue from innovative medicines expected to reach 24% by 2022. Looking ahead, the Group plans to attain revenue exceeding the RMB10 billion mark from innovative medicines by 2023, further increasing the share of revenue from them in the Group's total. The Group aims to become a world-class innovative pharmaceutical group by 2030, with a revenue target of HK$100 billion, of which over 60% is expected to be contributed by innovative drugs.Looking ahead, the Group is focusing on four therapeutic areas, namely oncology, surgery/analgesia, liver disease and respiratory system, and will strive to achieve its 2030 target by adopting a two-pronged approach - pursuing independent research and development and innovation-driven business development.About Sino Biopharmaceutical Limited (HKEX:1177)Sino Biopharmaceutical Limited is a leading, innovative R&D-driven pharmaceutical conglomerate in the PRC. Its business encompasses a fully-integrated chain which covers an array of R&D platforms, a line-up of intelligent production and a strong sales system. The Group's products have gained a competitive foothold in various therapeutic categories with promising potential, comprising a variety of biopharmaceutical and chemical medicines for oncology, surgery/analgesia, hepatitis, and respiratory system.Sino Biopharmaceutical is a constituent stock of the following indices: MSCI Global Standard Indices - MSCI China Index, Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng Composite Index, Hang Seng Healthcare Index, Hang Seng SCHK Mainland China Healthcare Index, Hang Seng Composite LargeCap Index, Hang Seng Composite LargeCap & MidCap Index, Hang Seng China (Hong Kong-listed) 100 Index and Hang Seng Stock Connect Hong Kong Index, etc.. Sino Biopharm was ranked as one of "Asia's Fab 50 Companies" by Forbes Asia for three consecutive years in 2016, 2017 and 2018. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)