Hong Kong, May 11, 2009 - (ACN Newswire) - Shandong Luoxin Pharmacy Stock Co., Ltd. ("Luoxin" or the "Company", stock code: 8058), a leading PRC pharmaceutical enterprise, announced its unaudited first quarterly results for the three months ended 31 March 2009 (the "period under review") today, recording a steady growth in turnover and profit attributable to shareholders.
During the period under review, turnover of Luoxin rose 39.2% year-on-year to approximately RMB198,676,000, the increase was mainly driven by strengthened production and distribution capabilities, which maintained a good operational environment for the Company. Profit attributable to shareholders surged by 31.3% to approximately RMB52,727,000. Basic earnings per share were RMB8.65 cents, representing an increase of 31.3% over the corresponding period in 2008. The Board of Directors does not recommend payment of any dividend for the three months ended 31 March 2009.
As at 31 March 2009, the Company's cash on hand and cash equivalents amounted to approximately RMB240,418,000, maintaining a solid gearing ratio and cash flow.
Commenting on the steady growth of the results for the period under review, Mr. Liu Baoqi, Chairman of Luoxin, said, "In 2009, the Company continued to insist on our strategy of strengthening the production, research and development and distribution abilities in providing reliable and high value-added medical products, as well as to enlarge market share of our products. All these contributed to the notable growth in turnover and profit. In the meantime, since the Company was named by Forbes as one of the 200 "Best Small and Medium-sized Enterprises in China with Most Potentials" last year, we have been awarded once again this year and with a big leap in our ranking by 144 places to number 34th this year. Besides, our "Luoxin" Trademark has recently been endorsed as a "Famous Trademark in the PRC" by the State Administration for Industry and Commerce of the PRC. All these represent that our remarkable performance was recognized by the market."
Since the Company's third phase of production capacity expansion project has commenced operation last year, the production capacity for aseptic bulk medicine and bulk medicine for system-specific medicines has increased to 300 tonnes and 200 tonnes respectively. The Company benefit from the increase in production capacity which brings about a reduction in the production cost.
Mr. Liu concluded, "Looking ahead, with the acceleration of the implementation of medical reforms imposed by the Central Government, and the reinforcement of medical examination on new products by the State Food and Drug Administration to consolidate the pharmaceutical industry. Expectantly, the pharmaceutical industry is having a flourishing and healthy development. Therefore, we are confident that under the healthy business environment, Louxin will be in a favorable position. We will further strengthen its research and development capability, lower the production cost, expand the production scale and develop more high value-added products, so as to generate satisfactory returns to our shareholders."
About Luoxin Pharma
Luoxin Pharma has been listed on the GEM of the Stock Exchange of Hong Kong Limited since 9 December 2005. The Company was recognized as one of the "Top Ten Pharmaceutical Enterprises with Growth Potential" and named as one of the "Top 100 Pharmaceutical Companies in China" since 2006. It was also honored as one of the 200 "Small and Medium-sized Enterprises in China with Most Potentials" by Forbes for two consecutive years. The Company is principally engaged in the development, manufacturing and sale of different types of prescription and OTC (over-the-counter) medicines in 4 major categories: 1) antibiotics, including Cephalosporines antibiotics, Quinolones antibiotics and Macrolides antibiotics; 2) anti-viral medicines; 3) system-specific medicines, including digestive system medicines, cardiovascular system medicines and respiratory system medicines; 4) other chemical medicines, including Antineoplastic medicines. The Company's production facilities are located in the High and New Technology Experimental Zone, Linyi, Shandong Province, the PRC, and has obtained all required production permits as well as GMP certification. Its sales and marketing networks cover 27 provinces and 4 municipalities in the PRC. Please visit www.luoxin.cn.
Contact:
Ms. Kelly Fung
Tel: +852 3150 6763
Email: kelly.fung@pordafinance.com.hk
Ms. Kate Lam
Tel: +852 3150 6738
Email: kate.lam@pordafinance.com.hk
Ms. Susanna Ho
Tel: +852 3150 6755
Email: susanna.ho@pordafinance.com.hk
Fax: +852 3150 6728
May 11, 2009
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
|
Print
Alerts
