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On August 15, you can apply for subscription to Xiaofang Pharmaceutical, which is listed on the main board.The "Xinlong" trademark created and continuously used by the company in 2002 has a high market visibility and has formed certain brand and product advantages.

According to reports, Xiaofang Pharmaceutical has formed a strong brand awareness and customer stickiness in the field of topical drugs, and its products are sold all over the country. Its main sales model is the distribution model, and its distributors mainly include large pharmaceutical distribution companies such as Jiuzhoutong, Sinopharm Group, Shanghai Pharmaceutical Group, and China Resources Pharmaceutical; under the direct sales model, its direct customers are mainly large chain pharmacies such as Neptune Star, Laobaixing Pharmacy, Yifeng Pharmacy, Dingdang Express Pharmacy, Yixintang, Guoda Pharmacy, and Shuyu Pingmin.

The prospectus shows that Xiaofang Pharmaceutical's products are mainly household topical medicines, covering digestive, skin and ophthalmic sub-areas. Among them, enema, calamine lotion, zinc oxide ointment, salicylic acid ointment, furan nasal drops, iodine glycerin, boric acid lotion, etc.The product market share has ranked first in the domestic industry for many consecutive years。

Image source: Xiaofang Pharmaceutical IPO prospectus

It is worth noting that according to data from MinEnet, Xiaofang Pharmaceutical's enema market share is in a leading position in China. However, according to Fuyuan Pharmaceutical's 2022 annual report, its 2022 enema factory sales volume was 541 million, which has exceeded Xiaofang Pharmaceutical's 304 million enema factory sales.

Xiaofang Pharmaceutical's prospectus also points out corresponding risks, including but not limited to market competition risks, risks of changes in pharmaceutical industry policies and regulations, risks of relative product concentration, and risks of raw material price fluctuations.

Xiaofang Pharmaceutical said that in the pharmaceutical industry, compared with other comprehensive and well-known pharmaceutical companies, the company's asset scale is relatively small and its financial strength is limited. Its main products includeEnema, calamine lotionDuring the reporting period (2021 to 2023), the revenue from the above products accounted for 67.72%, 67.20% and 67.45% of the main business revenue respectively.The company faces the risk of relatively concentrated products。

(Disclaimer: The content of this article is for reference only and does not constitute investment advice. Investors act accordingly at their own risk.)