United Lab held the 2016 performance presentation at Conrad Hong Kong on the afternoon of March 23, 2017. The board chairman Cai Haishan, vice chairman Liang Yongkang, executive directors Cai Shaozhe, Fang Yuping, Zou Xianhong and Zhu Suyan were present. About 150 investment institutions and analysts attended the presentation.
Chairman Cai made the annual performance report at the presentation: the company’s annual operating revenue was 7.063 billion HKD in 2016, with increased profit margin for API and preparation product, sharp rise of rh-insulin sales and a sales volume of 535 million HKD. In the meantime, insulin glargine obtained the CFDA approval for manufacture in early 2017, which is estimated to give new impetus to the company.
Vice chairman Liang gave a detailed introduction to the company’s financial and business conditions in 2016. He pointed out that the company had good status of trade and capital turnover and stayed financially robust in 2016. Regarding the products, midbody and API business recovered in Q4, and preparations business remained steady overall; rh-insulin showed highlighted sales performance in the year; insulin glargine is also expected to win bids in more provinces and become the force that drives fast sales increase in future; insulin aspart has completed the clinical test and entered the stage of declaration preparation; insulin detemir also obtained the approval for clinical test; multiple biological agents are being developed. In future, the company will continue to improve the product line of insulin in order to better serve the domestic diabetics.
When describing the 2017 blueprint, vice chairman Liang noted that the company will seek to diversify the product category and increase the sales in large and medium-sized hospitals, pharmacies and rural markets. In addition, the company’s memantine hydrochloride oral liquid for treating senile dementia has been incorporated into the new NRDL, which makes the promotion and sales of this product one of its future key tasks; in terms of financial planning, it will continue to optimize the financial structure and maintain a steady growth.
At last, the investors raised questions about the insulin sales, future strategy for memantine hydrochloride, midbody price and the company’s financial condition. Chairman Cai and directors gave clear explanations to all questions in a lively atmosphere. The release of new weighty products like insulin glargine fills the investors with full confidence in the future of United Lab.
