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on the evening of september 27, china resources sanjiu issued an announcement on the purchase of bank financial products.

china resources sanjiu stated in the announcement that in order to make reasonable use of idle funds, the company and its subsidiaries plan to invest a total of no more than 7 billion yuan of their own funds in banks and companies, taking full consideration of the company's future working capital and comprehensive assessment of risks and returns. the wealth management products of its bank wealth management subsidiaries (excluding the wealth management products of zhuhai china resources bank).

according to the announcement, china resources sanjiu’s investment targets are mainly medium- and low-risk return financial products. the product type is fixed-income non-guaranteed floating return type, and the risk rating is products within r2 (including r2) and bank structured deposits. the funds can be used on a rolling basis, and the term of a single product shall not exceed six months. the investment period shall be from the moment the resolution is reviewed and approved by the shareholders’ meeting to october 13, 2025.

china resources sanjiu is a large state-controlled pharmaceutical listed company. its predecessor was shenzhen nanfang pharmaceutical factory established in 1985. it was listed on the shenzhen stock exchange on march 9, 2000, and then officially entered the china resources group in 2008. in 2010, the company's name was officially changed to "china resources sanjiu pharmaceutical co., ltd."

from the perspective of main business, china resources sanjiu's core business is positioned in the field of chc (self-diagnosis and treatment) health consumer goods and prescription drugs. in 2023, its varieties with annual sales of over 100 million yuan include "999 ganmaoling", "999 piyanping" and "sanjiu". weitai", "999 children's cold granules" and "999 antiviral oral liquid", etc. 39.

it is understood that china resources sanjiu's chc business relies on the customer system of "sanjiu business road", covering more than 600,000 pharmacies across the country. "sanjiu business road" is the common growth between sanjiu and commerce, as well as between commerce and commerce. system. in the first half of 2024, driven by the growth of chc business, china resources sanjiu's overall operating performance performed well. in the first half of the year, the company achieved operating income of 14.106 billion yuan, a year-on-year increase of 7.30%; net profit attributable to the parent company was 2.398 billion yuan, a year-on-year increase of 27.77% .

china resources sanjiu said that in the first half of 2024, china resources sanjiu seized the opportunity to adjust the market structure, significantly increased its market share in the joint production area, and achieved restorative growth in formula granule sales, but the outlook for gross profit margin and net profit margin still has certain challenges. . in the future, the company will use the first-mover advantage of pilot enterprises to strive to maintain a relatively leading position in the highly competitive market.

in a recent investor survey, china resources sanjiu said that the company's cold medicine and other core categories of channel inventory are in good condition. over the past year, supply and sales of cold products have continued to be booming. production capacity is facing certain pressure, and channel inventory levels are low. the overall channel inventory is generally around 2.5-3 months. in the first half of 2024, china resources sanjiu's cold category performed well, mainly because cold medicines are affected by seasonal fluctuations, and usually spring and winter are the traditional peak sales seasons.

in 2024, china resources sanjiu expects its operating income to exceed the industry average growth rate, strive to achieve double-digit growth targets, and match corresponding reasonable profit growth rates.

it is worth noting that since september, the news that anhui province plans to include ganmao ling in centralized procurement has attracted market attention to china resources sanjiu. on september 9, the anhui provincial joint pharmaceutical procurement office issued the "anhui provincial 2024 centralized volume procurement document of chinese patent medicines (draft for comments)", which pointed out that there are 18 varieties in this procurement, and ganmao ling is listed as a procurement document. one of the varieties includes ganmaoling capsules and ganmaoling granules.

in this regard, china resources sanjiu believes that the impact of this notice on 999 ganmaoling in the cold category is extremely limited. the company stated that ganmao ling is not on the national medical insurance list. china resources sanjiu 999 ganmao ling product focuses on the otc (over-the-counter drug) market and is purchased by consumers at their own choice. it has established a "warm and considerate" brand reputation in the hearts of consumers. , china resources sanjiu will pay attention to relevant policies and actively communicate during the comment period.