HONG KONG, Jun 30, 2022 - (ACN Newswire) - 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, Zhuhai
The 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 Limited
Tianda 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.
Tianda Pharmaceuticals Limited
Investor Relations Department
Phone: +852 2545 3313
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