129823520842187500_666Shanghai Kai Po: products in short supply, new capacity in place
Marketing continues to promote products in short supply: 2011 companies continue to maintain a rapid development in the first quarter, the total operating income $ 263.25 million, increase of 41.2% over the same period last year. Considered as exclusive varieties of traditional Chinese medicine, tanreqing tender prices remained stable, according to its list of bidding price projections of phlegm-heat-quarter sales should be at around 11 million. In the area of marketing, The company has further increased the number of sales personnel, and stepped up its development of tanreqing in target hospitals, as well as the introduction and training of sales personnel. Currently dimethyl tanreqing has covered more than 3,000 companies and hospitals (hospitals account for most of the second), in clearing continues to maintain its class leading position of injections from traditional Chinese medicine. 2011 in limiting factors such as anti-shadowUnder the sound, clearing herbs products markets all ages, tanreqing also continues to maintain the supply situation, a quarterly bulletin showed stock company continued to reduce to $ 38.1 million from $ 41.22 million
Diablo 3 CD-KEY, according to the annual report data to calculate its finished goods inventory is still continues to maintain "zero inventory". Taking into account the current second and above hospitals in China more than a total of more than 10,000, product coverageStill greater headroom, productivity after the launch of its new product increments are expected to promptly market to digest. Productivity put in place one after another, long-term development plan ahead: 2012, raise investment project was completed
Rift Platinum, completely released the first year production capacity. Corporation has 45 million standard existing Chinese medicine extraction workshop of new plant capacity, and 3 in the lower washing filling and sealing production line for import setPrimarily, the single capacity up to 25 million/year, currently small volume injection, II, and III of which lines have adopted a new version of GMP certification, another new version of GMP certification of the production line is expected to be completed during the year. In view of the present Chinese medicine extraction workshop has become the bottleneck of the company's overall production capacity expansion step, the company has notice to about $ 20 million extra raisedFunds to purchase new factory close to no more than 40 acres of industrial land use, construction of traditional Chinese medicine extraction plant and ancillary facilities. We expect in land purchases under the premise of successful completion, medicine extraction workshop is expected to completed by about a year's time and put into use, and thereby for the further release of its productivity and growth provides guarantees for after 2013. In addition, the company intends to purchase industrial landSolid preparation workshop also plans on building a new, reserved for the company's production and the introduction of new products provided conditions. Steady progress in new product research and development, basic research carried out in depth: the first quarter of 2011, the company continued to promote investment in research and development (in the research and development expenses, depreciation and labor wage increases under the influence of his single-season management expense ratio has increased, but taking into account the publicSecretary marketing economies of scale, their overall expense ratio will continue in the future is expected to steadily drop), in basic research, we continue to be committed to enhance the effective cost of extraction rate in bear gall powder, improve the efficiency of resource use in the upper reaches, on the other hand the positive reevaluation of tanreqing injection and study on traditional Chinese medicine material base ("689" material Foundation research project) working for betterProviding theoretical basis for academic promotion. In terms of new product development, company of tanreqing capsule had completed clinical trials into the review link
wow power leveling, according to the General review of oral preparation speed, we estimate that the listing is expected to be approved during the year; in addition, tanreqing oral liquid phase III clinical trial is in smooth progress, and has declared the 5ml of tanreqing injection (mainly used forChildren), future company formation is expected to be led by 10ml of tanreqing injection, injection and oral preparations both in development patterns. Companies account for which sufficient cash to more than 850 million through the purchase of more advantage provides good conditions. Earnings forecasts: we maintain a previous earnings forecast, expected EPS of 2012-2014 respectively0.86, and $ 1.33, now leading products in short supply, its short term capacity bottleneck issues have been resolved, variety/inquiry form continued, and determine more rapid growth performance during the year. Dynamic valuations of shares after last year's recall is not high, we continue to maintain the company's ' outperform ' rating. Risk disclosure:Single risk, risk of animal medicines policy
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