Widely known (600771SH) announced on January 30 that it expects to achieve a net profit attributable to shareholders of listed companies of 100 million yuan to 1 million yuan in 2023$2.0 billion, an increase of 3$4.9 billion to $36.9 billion yuan to turn losses into profits. The relevant person in charge of Guangyuyuan told the reporter of the "Economic Information Daily" that the company's core business line performance and other comprehensive factors have made the company's net profit increase and turn losses into profits. Guangyuyuan will continue to take the leader of high-quality Chinese medicine as its mission and vision, and create high-quality Chinese medicine in the whole industry chain.
Swung. Guangyuyuan is mainly engaged in the production and sales of traditional Chinese medicine products, and its core business is the business of Chinese patent medicine, which was listed on the Shanghai Stock Exchange in November 1996. According to different product positioning and sales channels, the company's pharmaceutical industry mainly includes three major sectors: traditional Chinese medicine, high-quality Chinese medicine and health wine. The company has more than 100 kinds of traditional Chinese medicine approval numbers, such as Guilingji, Dingkun Dan, Angong Niuhuang Pill, Niuhuang Qingxin Pill, etc., among which Guilingji is the most complete living specimen of compound refining technology in China so far.
According to the performance forecast, Guangyuyuan expects to achieve a net profit attributable to shareholders of listed companies of 100 million yuan to 1 million yuan in 20232 billion yuan, an increase of 4$9.9 billion to $5$1.9 billion, an increase of 3$4.9 billion to $36.9 billion yuan to turn losses into profits. It is estimated that the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses in 2023 will be 90 million yuan to 11 billion yuan, an increase of 4$9.8 billion to $5$1.8 billion, an expected increase of 3$4.8 billion to $36.8 billion yuan.
Guangyuyuan explained that during the reporting period, the company strengthened internal control management, implemented various measures to improve quality and efficiency, strengthened marketing control and digital intelligence management, and accurately implemented daily budget control. The performance of the core business line has generally increased, the comprehensive gross profit margin has increased, especially the proportion of high-quality Chinese medicine sales has continued to increase, and the sales expense ratio has decreased year-on-year, which has comprehensively increased the company's net profit and achieved a turnaround.
It is worth affirming that in the past three years, Guangyuyuan's accounts receivable have decreased year by year, and will drop to 108.4 billion yuan, down to 87.5 billion yuan, which will drop to 55.3 billion yuan, the collection of old accounts and the management of business have achieved remarkable results. According to the research report of Hua'an ** and other institutions, Guangyuyuan has taken the measures of "old account collection" and "cash delivery" to promote a substantial increase in operating cash flow, the company's various financial indicators have improved, and the state-owned assets have achieved remarkable results since they became owners.
The whole industry chain creates high-quality traditional Chinese medicine".
In the past three years, Guangyuyuan has adhered to the development strategy of "creating high-quality traditional Chinese medicine in the whole industry chain", carried out three special actions of "100 days of arrears clearance, cost reduction and efficiency increase, and incremental expansion", and promoted the improvement of the company's operating quality through "reducing receivables, reducing inventory, and increasing pure sales".
According to the data, Guangyuyuan is a traditional Chinese medicine enterprise and pharmaceutical brand that has been inherited from generation to generation for nearly 500 years, and is the first batch of "Chinese time-honored brand" enterprises of the Ministry of Commerce of the People's Republic of China. According to the relevant person in charge of Guangyuyuan, Dingkun Dan is a national medical insurance catalog and a national essential drug list product, considering that the "2023 Medical Insurance Drug Catalog" has been officially implemented on January 1, 2024, a large number of drugs have lifted or relaxed medical insurance payment restrictions, and Dingkun Dan, a subsidiary of Guangyuyuan, is a drug that lifts payment restrictions, or provides new impetus for the sales performance of the product in the future.
On January 15, the "Opinions on Developing the Silver Economy and Improving the Well-being of the Elderly" issued by the General Office of ** mentioned that the application of traditional Chinese medicine in the field of health care should be expanded, and traditional Chinese medicine services such as geriatric diseases and chronic disease prevention and treatment should be developed. Chen Keji, a master of traditional Chinese medicine, an academician of the Chinese Academy of Sciences, and a Linchuan scholar of traditional Chinese medicine and integrated traditional Chinese and Western medicine, sent a message in "Guarding the Health of the Elderly": The health care of the elderly focuses on "cultivating morality, harmony between the mean, and self-cultivation and qi".
Liu Huiwu, a professional pharmacist with a wide reputation and a representative inheritor of the traditional Chinese medicine preparation method (Guilingji traditional production technique) and traditional Chinese medicine preparation method (Dingkun Dan production technique) of the national intangible cultural heritage project, said that Guangyuyuan's product Angong Niuhuang Pill has been included in the prevention and treatment plan of many provinces across the country as a traditional Chinese medicine product for the prevention and treatment of stroke coma and encephalitis, meningitis, toxic encephalopathy hemorrhage and sepsis.
Regarding the latest inventory and sales volume of Angong Niuhuang Pill, the reporter of "Economic Information Daily" combed and found that Guangyuyuan's 2022 annual report described that "the inventory of Angong Niuhuang Pill (double natural) increased by 340 compared with the same period last year."56%, which is affected by market demand and caused by expedited production"; The 2023 semi-annual report said that the company's operating income during the reporting period was **38 year-on-year47%, mainly due to the increase in sales of core products Angong Niuhuang Pill and Guilingji.
In recent years, Guangyuyuan's brand building and market expansion have achieved obvious results, the market position has gradually stabilized, and the operating income has stabilized at more than 1 billion yuan.
Strive to become a leader in high-quality Chinese medicine.
Guangyuyuan has been known as "China's four major pharmacies" together with Beijing Tongrentang, Hangzhou Huqingyutang and Guangzhou Chen Liji, and the State-owned Assets Supervision and Administration Commission of Shanxi Province is currently the actual controller.
As early as December 2021, Shanxi state-owned assets officially became the owner, which has attracted much attention from the industry. A number of people within Guangyuyuan recalled that the company had carried out a lot of effective work before the state-owned assets took over, including strategic reconstruction, comprehensive launch of OTC strategy, brand remodeling, completion and operation of new factories, continuous academic research, and adherence to quality.
According to reports, Guangyuyuan has always adhered to authentic medicinal materials, ingenuity manufacturing, ancient inheritance, and quality is life. In 2013, the listed company changed its name to "Guangyuyuan", put forward the "strategy of building high-quality Chinese medicine in the whole industry chain", and also opened up the strategic direction of high-quality Chinese medicine in the Chinese medicine industry; In 2016, Guangyuyuan fully launched the OTC strategy to expand the national market, covering 150,000 pharmacy terminals and more than 5,000 pharmaceutical and medical terminals at the peak. In August 2018, Guangyuyuan Traditional Chinese Medicine Cultural Industrial Park was completed and put into operation, which completely solved the production capacity problem restricting the company's development.
After Guangyuyuan returned to Shanxi state-owned assets, it further improved the overall strategy, focused on the goal positioning of "the top of repair, the soul of Chinese medicine", implemented the development idea of "product as the key, channel as the king, science and technology as the foundation, and brand as the soul", and put forward the mission and vision of "high-quality Chinese medicine leader".
From 2014 to the present, Guangyuyuan has continued to maintain a growth trend. Among them, since 2017, it has always maintained a basic revenue of 1 billion yuan. From the perspective of accounts receivable, Guangyuyuan's cash flow has continued to increase after turning positive in 2021. By the third quarter of 2023, net operating cash flow has reached 3600 million yuan.
A number of ** institutions also analyzed that Guangyuyuan will insist on cash delivery from 2022, which means that it has enough confidence to solve historical problems and meet the challenges of the market. Today's Guangyuyuan is lightly traveling, and its future incremental development may be worth looking forward to. (Reporter Chai Gang reports from Taiyuan).
Editor: Li Ben.