The net profit of Xiangquan pharmaceutical in 2020 will be 30.0477 million, with an increase of 68.81%, and the gross profit of sales will increase



On April 26, Xiangquan Pharmaceutical (836972) recently released its 2020 annual report. During the reporting period, the company achieved an operating income of 131032883.13 yuan, up 7.41% year on year; The net profit attributable to the shareholders of the listed company was 30047741.30 yuan, up 68.81% year on year.


湘泉药业2020年净利3004.77万增长68.81% 销售毛利增加

During the reporting period, the net cash flow from operating activities was 8378063.80 yuan, and the net assets belonging to the shareholders of the listed company was 192727738.62 yuan by the end of 2020.

During the reporting period, the company’s net profit attributable to the shareholders of the listed company was 30047741.30 yuan, up 68.81% year on year. The main factors are as follows: (1) the adjustment of the sales structure, the increase of the sales proportion of drugs, Chinese herbal medicine and wine by – 1.58, – 1.78 and 0.20 percentage points respectively, the increase of sales revenue by 9.045 million yuan, the decrease of sales cost by 280800 yuan and the increase of gross profit by 8.7642 million yuan, The comprehensive gross profit rate was 34.32%, an increase of 5.11 percentage points over 29.21% in the same period of last year; The gross profit of Fuyankang, Changkang tablets, traditional Chinese medicine and liquor increased by 252000 yuan, 1750600 yuan, 6370200 yuan and 671600 yuan respectively( 2) During the period, the expenses decreased by 2.8951 million yuan, mainly due to the increase of 4211 million yuan in sales expenses due to different products and changes in drug sales mode; Financial expenses decreased by 3.1914 million yuan on a year-on-year basis; This was mainly due to the increase of 3.1905 million yuan in the discount rate of the designated production enterprises of special commodities for ethnic minorities over the same period of last year; Management expenses and R & D expenses decreased by 124700 yuan on a year-on-year basis( 3) The provision for impairment loss decreased by 1099200 yuan on a year-on-year basis( 4) Non operating income and other income increased by 2.092 million yuan on a year-on-year basis, mainly due to the increase in policy subsidies( 5) The year-on-year increase in income tax expenses was 5.588 million yuan, mainly due to the increase of 4.2918 million yuan in deferred income tax expenses caused by internal sales profits, and the increase of deductible losses and impairment losses of Xiangquan pharmaceutical headquarters, with a year-on-year increase of 1.1839 million yuan in deferred income tax expenses.

According to the data of digbei.com, Xiangquan pharmaceutical is based on the pharmaceutical manufacturing industry, mainly engaged in the cultivation and trade of Chinese herbal medicine, processing and sales of Chinese herbal pieces, and production and sales of Chinese patent medicine. It has a complete pharmaceutical industry chain from the cultivation of Chinese herbal medicine, processing of Chinese herbal pieces, plant extraction, preparation of Chinese patent medicine to the utilization of renewable resources.

 


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