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About China Shineway Pharmaceutical Group Ltd.

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Market capitalization Around HK$11.2 billion
Core business Largest Chinese medicine injection, soft capsule and TCM granule manufacturer in the PRC in terms of production capacity. Established brand of flu-related drugs
Business growth Stable growth expected with 14% and 25% CAGR in sales and profit respectively from 2018 to 2020
Strength One of the "Top 100 pharmaceutical enterprises" and "Top 50 Chinese medicine enterprises" in China.The only company in the TCM injection sector to own National Joint Engineering Research Center
Strategic plan Expansion of in-house sales team instead of relying on sales agents increases efficiency and enjoys lower cost
Reputation High technological capability, core project got recognition of All-China Federation of Industry and Commerce (ACFIC) Science and Technology Progress Award and quality control project was awarded the Second Price of the National Science and Technology Advancement Award
Opportunities Exclusion of China herbal medicine in "Zero Mark-up" policy raised hospital demand for TCM granule. Expect sales of TCM granule to double in 2018 with more provincial penetration out Hebei
Competitive advantage
  1. Inclusion of two major products in the new National Reimbursement Drug List (NRDL) boosts terminal sales increases growth visibility
  2. 35% of its sales comes from flu-related drugs, core product ran out of stock during the flu-rampant period
  3. Sound financial supporting high dividend payout of 40% on average
Valuation
  1. Current stock price is equivalent to 0.6x 2018F PEG, valuation is attractive based on the high certainty of future revenue growth
  2. Highest dividend yield of about 5% in the healthcare sector

Seminar details

Date: 26 April, 2018 (Thu)
Time: 7:15pm – 8:45pm
Venue: United Overseas Bank Limited, 23rd Floor,
3 Garden Road, Central
(~10-min walk from MTR Central Station, Exit J2)
Speaker:

Director of Investor Relations, China Shineway Pharmaceutical Group Ltd.
Mr. Randy Hung

Join the Q&A session and stand a chance to get cash coupons!
Open an account during the seminar to enjoy attractive rewards!

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