29 11 月, 2022

Regina Miracle Fiscal 2023 Interim Results Revenue Reaches HK$4.61 Billion; Hitting a Record High for the Period, Net Profit Rose 23.1% to HK$313 Million

HONG KONG, Nov 29, 2022 - (ACN Newswire via SEAPRWire.com) - Regina Miracle International (Holdings) Limited ("Regina Miracle" or the "Company", together with its subsidiaries, collectively the "Group") (HKEX: 2199), a leading global intimate wear company boasting an innovative design manufacturer ("IDM") business model, has announced its interim results for the six months ended 30 September 2022 (the "period" or "1HF23").During the Period, despite the impact of macroeconomic fluctuations, the Group continued its growth momentum from the previous financial year and recorded revenue of approximately HK$4,613.3 million (1HF2022: HK$4,080.6 million), representing a year-on-year increase of 13.1%. Gross profit grew correspondingly by 19.2% to approximately HK$1,168.4 million, with gross profit margin up by 1.3 percentage points to 25.3% (1HF2022: HK$980.6 million and 24.0%, respectively). Benefiting from the full implementation of the Five-Year Plan and effective internal control measures, operating leverage was increased, driving earnings before interest, taxes, depreciation and amortization (EBITDA) up by 24.6% to approximately HK$811.0 million, with EBITDA margin up by 1.7 percentage points to 17.6% (1HF2022: HK$650.7 million and 15.9%, respectively). The Group recorded a net profit of approximately HK$313.0 million for the Period, representing a year-on-year increase of 23.1%, with net profit margin up by 0.6 percentage points to 6.8% (1HF2022: HK$254.3 million and 6.2%, respectively). Excluding the share of net losses / profits of associates accounted for using the equity method, the adjusted EBITDA was up by 28.8% to approximately HK$860.7 million for the Period, with adjusted EBITDA margin up by 2.3 percentage points to 18.7% (1HF2022: HK$668.1 million and 16.4%, respectively; while the adjusted net profit was approximately HK$362.7 million for the Period, representing a year-on-year increase of 33.5%, with adjusted net profit margin up by 1.2 percentage points to 7.9% (1HF2022: HK$271.8 million and 6.7%, respectively).The Group is in a sound financial position, with strong operating cash flows amounting to approximately HK$985.5 million during the Period (1HF2022: HK$422.9 million) and ample war chest. Its total cash on hand was approximately HK$872.1 million as at 30 September 2022 (31 March 2022: approximately HK$995.0 million). In order to share these fruitful results with shareholders, the Board has resolved to declare an interim dividend of HK8.5 cents per share for 1HF2023 (1HF2022: HK6.8 cents per share), in line with the Group's dividend policy of distributing no less than 30% of its net profit for the financial year.Mr. YY Hung, Chairman, Chief Executive Officer & Executive Director of Regina Miracle, said, "Benefiting from the earlier recovery in Europe, the United States and some Asian markets, as well as the diversified development of the consumer landscape in the domestic market, the Group recorded its best-ever business performance in 1HF23, laying a solid foundation for its Five-Year Plan of business development to be steadily achieved. Nevertheless, we also observed that due to the impact of macroeconomic factors, major retailers are still trying to strike a balance between logistical risks and inventory pressure and are choosing to consolidate their existing supply chain layouts. Although the Group's brand partners are still making every effort to maintain their close relations with versatile and core supply chain partners like Regina Miracle, we expect to face short-term challenges in the second half of the financial year as market pressures intensify. The Group will implement a series of measures to expand revenue and reduce expenses, including but not limited to: accelerating the promotion and penetration of products with innovative craftsmanship and technological aesthetics based on the successful experience of business breakthroughs with existing brand partners; adjusting the recruitment plans and staff rosters in the factories in Mainland China and Vietnam as appropriate; prudently evaluating fixed asset investment plans; and keeping the schedule of relocating to the Zhaoqing production base flexible. On the other hand, the establishment of the joint venture ("VS China") between the Group and Victoria's Secret & Co. ("Victoria's Secret") was completed and has since then been implementing its planned strategies to strengthen online operations and localization. Moreover, the Vietnam production base, as a pillar of the Group's export business, has timely optimized its organizational structure in view of market changes, and made full use of the advantages of cost reduction and efficiency improvement through innovative craftsmanship manufacturing, while also improving supply chain localization at the same time. So that to enable Regina Miracle to grasp the opportunities for market penetration amid the industry consolidation."Business ReviewIntimate wear: with continuous recovery in the European and the United States markets, strategies of differentiation and category expansion in the intimate wear segment have borne fruitDuring the Period, this segment contributed approximately HK$2,464.3 million in revenue (1HF2022: HK$2,336.0 million), a year-on-year increase of 5.5%, accounting for 53.4% of the Group's total revenue, and remained the main source of revenue for the Group. The segment's gross profit grew by 14.5% to approximately HK$652.8 million, with gross profit margin up by 2.1 percentage points to 26.5% (1HF2022: HK$569.9 million and 24.4%, respectively). The growth was mainly attributable to the continuation of the earlier recovery in the European, the United States and Asian retail markets and the increase in unit prices of a number of products. During the Period, the Group continued to implement its strategies of differentiation and sub-category expansion on the basis of its industry-leading R&D capabilities, and achieved remarkable result. The Group continued to consolidate its market share with its existing brand partners, and jointly explore quality market opportunities.Sports products: Sales remains strong with revenue rising by more than 40% year-on-year This business segment contributed approximately HK$1,483.7 million in revenue during the Period (1HF2022: HK$1,036.4 million), a 43.2% year-on-year increase, accounting for 32.2% of total revenue. Segmental gross profit was approximately HK$358.0 million and gross profit margin was 24.1% (1HF2022: HK$243.4 million and 23.5%, respectively). Sports bras continued to record strong sales performance amidst the ongoing sports boom and became the main growth driver for this business segment. During the Period, the Group created functional and comfortable sports products with its innovative craftsmanship for its brand partners and the market. Among these, sports leggings were highly sought after and are expected to replicate the growth trajectory of sports bras.Consumer electronics components: Diversified product mix and brand partner portfolio drives the segment revenue to increase by more than 10% year-on-yearRevenue from this business segment amounted to approximately HK$258.3 million (1HF2022: HK$232.7 million), a year-on-year increase of 11.0%, accounting for 5.6% of the Group's total revenue. The segment's gross profit increased by 11.0% to approximately HK$64.6 million (1HF2022: HK$58.2 million and 25.0%, respectively). The Group's commitment to bringing products with comfortable and skin-friendly features to the market led to steady growth in overall orders during the Period. The segment recorded mid-double-digit growth in sales year-on-year during the Period, which was mainly driven by keyboard, laptop and tablet PC accessories, and is seeing more diversified development. As for virtual reality (VR) headsets, the segment's revenue remained stable year-on-year, as the Group continued to expand its brand partner base during the Period, with orders from its brand partners in China gradually increasing. The Group has extended some of its proprietary technologies with cross-category innovations to the production and application of consumer electronics textile products that are suitable for prolonged use.Production value of Vietnam continuously improves, multi-regional production capacity layout demonstrates the leading position in the supply chain marketAs the market continues to consolidate and the supply chain becomes increasingly condensed, the Group's leading position in the supply chain has become evident. The Group continues to cater to the different needs of its domestic and international brand partners with agility and quick turnaround times. As an important production base of Regina Miracle, its factories in Vietnam have entered into an efficiency ramp-up stage. Leveraging the experience of optimizing the first three factories in Vietnam, the Group accelerated the production efficiency of all other factories in Vietnam so as to enhance its consolidated gross margin. During the Period, the average efficiency of the total six plants in Vietnam further improved, driving the growth in the Group's gross profit. As of 30 September 2022, the proportion of Vietnam's total production value to the Group's total revenue increased to 80%.As for Mainland China, the Group's production base is expected to be relocated to the Zhaoqing New District Industrial Park in the Greater Bay Area as scheduled. As at the end of the Period, the Group had a total of approximately 39,300 employees in Vietnam, and percentage of local employees reached 85% following efforts in accelerating localization. Meanwhile, the Shenzhen factory in China, which is the Group's R&D center and production base, had approximately 6,200 employees.Adhering to the long-term Five-Year plan development framework and diversify business to sustain steady and sound developmentAs a blueprint for the long-term sustainable development of the Group, the management formulated a Five-year Plan for Fiscal 2022-2026 at the beginning of last year, focusing on the following three objectives: 1) drive steady growth in sales through innovation and R&D; 2) expand marginal profit by launching high value-added and innovative products and enhancing management and production efficiency; and 3) maintain healthy operating cash flows and capital expenditures, gradually lowering the debt ratio in the mid- to long-term. Despite facing multiple challenges in the market environment, the Group still actively maintains the long-term development framework of its Five-Year plan, and strives to promote growth recovery by leveraging its innovative craftsmanship and advantages in production capacity.Successive breakthroughs in craftsmanship innovation, accelerating the introduction of innovative products with technological aesthetics to the marketAfter two years of dedicated efforts in R&D, the Group has made successive breakthroughs in craftsmanship innovation. Besides enhancing the technological appearance and functionality of the products, it has also reduced the use of labor in the production process and significantly improved the cost efficiency of products under innovative craftsmanship. In particular, the Group's integrated seamless bonding solutions (RePersbond, ReSiltech), coupled with the Group's proprietary moulded cup technology (ReMatrixPad), have successfully opened up a novel and unique development path that differentiates from the sewing workmanship in the textile industry over the past 20 years, further consolidating the Group's differentiation advantages and competitiveness.The Group is committed to enhancing the standardization of its innovative processes and leveraging the advantages of cost efficiency improvement to accelerate the adoption of its products at scale, so as to realize the further penetration of innovative processes in brand partners' products while driving changes in the industry's practices. It is worth mentioning that in the first half of this financial year, the Group jointly launched with its major Japanese brand partner a series of flagship bra top products featuring its seamless bonding craftsmanship and innovative moulded cups. It also developed and launched a series of flagship products for the VS China joint venture, including the Double-Size 'Jelly-Striped' Bra Top, Leggings and "Anti-Gravity" bras. With their technological aesthetics and functional features, these products have been well received by consumers and are leading the way to the targeted introduction of such innovative craftsmanship to the products of its various intimate wear brand partners. With the products leveraging the Group's innovative craftsmanship proving to be well received by the market, many sports brand partners have shown keen interest in the Group's technological craftsmanship, and this success is expected to be duplicated in the sports category. Such reform on innovative craftsmanship with technological aesthetics is a strategy proactively pursued by the Group in response to the current lackluster macro environment. Based on the current development progress of the Group with its brand partners, more breakthroughs at the business level with multiple brand partners riding on the Group's innovative craftsmanship are expected.Capitalizing on regional and scale advantages of supply chain in Vietnam, accelerate the achievement of cost reduction and efficiency enhancement through innovative craftsmanship After years of strategic deployment, the Group's production base in Vietnam has gained considerable regional and scale advantages with mature operations, orderly management, stable workforce and enhanced production efficiency as planned. The pandemic has also accelerated supply chain localization, enabling the Group to deploy its production capacity in a more coordinated and agile way, thereby shortening the delivery lead time and improving response time.In respect of the application of innovative craftsmanship with technological aesthetics such as seamless bonding technology and injection moulded cups, the Group has established the world's leading and scaled production base in Vietnam. The base has helped to develop and broaden the advantages of seamless bonding technology in the development and manufacturing of innovative products, thus facilitating the timely integration of seamless bonding and moulded cup technologies, which is expected to provide the Group with vigorous momentum when the market picks up.Establish strategic partnerships in supply chain, create unique entry through material and machinery innovationLeveraging its sophisticated know-how about products and development of automated production machinery for its craftsmanship, Regina Miracle spearheads the R&D direction of its supply chain, among which, by virtue of years of strategic alliances that focuses on materials innovation, the Group has established inimitable supply chain partnerships in foam and fabric material developments that provides the advantages of tailored development and prioritized collaborations. This, coupled with its craftsmanship innovation, has allowed the Group to form and strengthen the entry barrier with its product uniqueness.Product innovation advantages manifested by rapid development of e-commerce sales in ChinaAs a major step in the Group's layout in the PRC market, since the formal establishment of and cooperation in the VS China join venture, both parties have fully leveraged their synergies and made encouraging progress on the sales performance during the Period. In the domestic market, the pandemic still poses challenges to store sales to a certain extent, so the joint venture has adopted a prudent strategy in developing stores and will invest in an orderly and appropriate manner depending on the pandemic situation. At the same time, VS China has gradually redefined its brand image to more effectively cater for the needs of Chinese consumers and stepped up its efforts in driving e-commerce sales. Several product collections jointly developed with Regina Miracle have achieved remarkable sales in the e-commerce channels, and, together with the rapid response capabilities of the supply chain, have led to a significant increase in sales and rankings on e-commerce platforms. In particular, at the Double Eleven Campaign (D11), VS China's gross merchandise volume (GMV) achieved encouraging results of exceeding RMB100 million for the first time on Tmall's "D11", with a year-on-year increase of 139%. In view of the huge potential of domestic e-commerce sales and the strong growth momentum in this area, the joint venture will place focus on developing e-commerce channels in the next three years, in an effort to sustain long-term growth of its business.At the same time, the Group will continue to strengthen its collaboration with traditional and e-commerce brand partners in the domestic lingerie market to promote vigorous development for all. For the development of its businesses in China, the Group's R&D centre and production base in Shenzhen will be relocated to Zhaoqing in phases from mid-2023 onwards, with the relocation expected to be completed by the end of 2024. This move is expected to help strengthen the collaboration between the Group and its international brand partners in the domestic market, as well as to help seize new opportunities with traditional offline / emerging online brands in China and from other channels.Regina Miracle fully appreciates the importance of ESG issues to its business development. Therefore, it has been effectively promoting its sustainable development strategies with the current three-tier structure of "leadership - decision-making - execution" since Fiscal 2022. Based on the United Nations' 2030 Sustainable Development Goals, the Group has formulated six key issues of concern, based on which it has set four goals for 2030, namely carbon reduction, waste management, sustainable innovation, and people and community. During the Period, the Group achieved outstanding results in the relevant performance indicators and will continue to create long-term value for all stakeholders in a responsible manner and assume social responsibility to achieve sustainable development.Mr. Hung concluded: "In the first half of the financial year, the Group's business reached new heights and continued its steady growth. We will continue to deepen its seamless bonding technology and innovative craftsmanship with technological aesthetics in the future, so as to create trendsetting products in the market. We expects to face certain challenges in the second half of the financial year due to the headwinds in the macro environment, which may continue into June next year. However, the Group is confident that it will be able to withstand market changes and maintain solid business performance by leveraging its leading innovative R&D capabilities and inimitable strategic partnerships, coupled with the various advantages of its Vietnam production base in terms of scale, stability and agility. The Group will proactively rise to the challenge by timely optimizing its strategies to mitigate the short-term impacts, and endeavor to seize market opportunities in a bid to maintain growth momentum in the medium to long term. While sustaining business growth, Regina Miracle will also continue to make every effort to achieve its sustainability targets and create long-term value for its shareholders and stakeholders. We would like to express its sincere gratitude to its brand partners, supplier partners, business partners and shareholders for their unwavering support, as well as the management team and colleagues for their tireless efforts and dedication.About Regina Miracle International (Holdings) LimitedFounded in Hong Kong in 1998, Regina Miracle International (Holdings) Limited is a global leader in the intimate wear manufacturing industry. By adopting an innovative design manufacturer ("IDM") business model and building on a diverse technology matrix with three core technologies: computer aided mold design and production, 3D compression molding, and seamless bonding, Regina Miracle is able to develop and produce market-leading products for its long-standing world-renowned brand partners which cover various key sectors comprising intimate wear (including bras, panties, shapewear) and bra pads, sports products (including sports bras, functional sports apparel), consumer electronics components, and footwear, and facilitate cross-sector and cross-category applications. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

28 11 月, 2022

Dubai UAE’s MxHub Announces launch of MX100 Investor Event

DUBAI, UAE, Nov 28, 2022 - (ACN Newswire via SEAPRWire.com) - MxHub, Dubai's newest Innovation Center and Incubator has announced the launch of MX100, a multimedia metaverse event scheduled for December 20, 2022 next to the Burj Khalifa in Dubai UAE. The event is geared to deliver the latest in innovative startups from throughout the region amidst a backdrop of the latest metaverse centric technologies. "In our effort to bring the latest technological breakthroughs of the Metaverse to the UAE, we are planning this showcase event via a multimedia delivery that we believe is transforming the way events are produced, delivered and engaged with," stated Edward Musinski, Executive Director of MxHub. "Our growing ecosystem drives both investor awareness and a showcasing medium for best of class opportunities through the sector that encompasses fintech, blockchain, healthtech & web3."Invited Investors include: Andreeson Horowitz, Sequoia, TigerGlobal and SALD InvestmentsThe event which is being produced by MxHub is supported by the following MxHub companies.Blockbytes: https://bloxbytes.com/MetaVibes: https://metavibes.ai/Citizen of Metaland: https://www.citizenofmetaland.com/Ducatus: http://www.ducatus.com/VisionTech: https://www.visiontechme.com/Bimar: https://www.bimar.pro/main-enArcona: https://www.arcona.space/Vatom: https://www.vatom.com/Aimedis: http://www.aimedis.io/Panvora: http://www.panvora.com/MetaAlliance: https://www.metaalliance.biz/Huma: https://huma.comMobio: https://mobiointeractive.comShaikhtech: https://www.shaikhtech.com/MatterFi: https://matterfi.comEvent Video: www.youtube.com/watch?v=DbdQkQeT9xgEvent URL: https://mx100.vip/About MxHubMxHub is a UAE based Innovation Ecosystem and is part of Phygital Holdings a UAE Digital Holdings Fund. The company hosts multiple global companies by providing corporate infrastructure support to its growing ecosystem of innovative startups. MxHub is a one stop startup incubator for startups located outside of Dubai and provides a full range of support services to companies looking to embed themselves in the local UAE market. For more information, visit https://mxhub.co. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

26 11 月, 2022

Tianda Pharma Announces 2022/23 Interim Results

HONG KONG, Nov 25, 2022 - (ACN Newswire via SEAPRWire.com) - Tianda Pharmaceuticals Limited ("Tianda Pharma" or "the Group"; stock code: 0455.HK) today announced its interim results for the six months ended 30 September 2022 ("the Period"). During the Period, the Group adopted proactive marketing strategy and improved its results notably. Its revenue increased by 5.6% to approximately HK$250 million. Gross profit rose by 10.2% to approximately HK$120 million and profit before taxation, depreciation and amortization turned around from loss of HK$6.9 million in the same period last year to profit of HK$2.3 million for the period. Recorded strong sales of core products and continued to optimize Chinese medicine business layoutThe Group has worked hard cultivating the cardiovascular, cerebrovascular and pediatric disease realms and owns unique generic product pipelines. Boasting notable efficacy and competitive price, Tuoping Valsartan capsules, the Group's core product for treating cardio-cerebrovascular disease, has been ranked the No. 1 best-selling product in its category in Mainland China since the success in securing first place in the nation's Centralized Drug Procurement. During the Period, sales of the product reached HK$92.3 million, representing a year-on-year growth of approximately 21%. Tuoen Ibuprofen oral suspension, a pediatric drug, was among the top three in terms of market share in the country due to effective marketing, achieving strong sales of HK$64.0 million for the Period, up approximately 70% year-on-year. The Group has basically built for itself a complete traditional Chinese medicine ("TCM") industrial chain, from trading of Chinese medicinal materials, TCM decoction pieces and formula granules to innovative Chinese medicine R&D and international trade. During the Period, it continued to increase operating product varieties, expand sales channels and strengthen procurement sources, including exporting TCM decoction pieces to Australia and planning for importing to China special variety of Chinese medicinal materials from overseas. Insisted on the inheritance and innovation of TCM, it brought in innovative Chinese medicine transformation projects and embarked on cooperation in developing innovative Chinese medicines. During the Period, overall revenue of TDMalls increased by 81%. The first clinic to adopt the equity investment cooperation model, TDMall (Tsim Sha Tsui) has famous medical experts as shareholders who also participate in the management. Starting to make profit eight months after opening, TDMall (Tsim Sha Tsui) provides valuable experience and serving as a model for expanding the business across the nation and worldwide. The Group is pushing forward with opening a TDMall in Shenzhen, another important step in expanding its presence in the Guangdong-Hong Kong-Macao Bay Area. The Group also continued to invest in "intelligent" development of Chinese medicines. The Chinese medicine cloud technology-based platform "TDMall on Cloud" of the Group played an important role in the Group's "Free Consultation and Medicine" charity campaign during the fifth wave of COVID-19 outbreaks in Hong Kong, offering comprehensive remote Chinese medicine services to the public.Strengthened R&D across the board and capability to bring in business, actively expanded revenue sourcesThe Group has insisted on combining generic drug endeavors with innovation and, via its own R&D efforts and cooperation with external R&D institutions, continued to enrich its product pipelines. During the Period, the Group increased R&D investment, spending HK$12.0 million, up 260% year-on-year, set to allow it to come up with more new products that can become new and strong growth drivers for its medium and long-term development. The Group is currently pursuing 22 R&D projects, including class I innovative Chinese medicines, class III new Chinese medicines, class III chemical drug plus APIs, class IV chemical drugs and healthcare product series. During the Period, the Group actively introduced innovative Chinese medicine transformation projects in which the industry, academia, research and medical sectors come together to develop innovative Chinese medicines for treating chronic heart failure. Such initiatives have given the Group a rich and diversified product development portfolio that covers high-end generic drugs, classic Chinese medicines, modern Chinese medicines and healthcare products. The Group also actively introduced approved proprietary Chinese medicine products. Following the acquisition of the proprietary Chinese medicine product Xiaoer Qingre Zhike Granule last year, it acquired Jianerle Granule, a proprietary Chinese medicine for children during the Period, continuing to expand its pediatric product categories. In addition, the Group launched contract development and manufacturing organization ("CDMO") and contract manufacturing organization ("CMO") businesses to expand its revenue sources and promote business development. As at the end of September 2022, it had seven contracts signed for R&D technology service mainly for liquid pharmaceutical preparations and completed production for two projects during the Period. The two business modes are expected to become growth drivers that can continuously generate revenue for the Group.Stepped up efforts in three business segments, consolidated business foundation and achieved leapfrog developmentTo seize the opportunities in the continuously expanding pharmaceutical and healthcare market, the Group will keep growing its three business segments, namely Chinese medicines, medical and healthcare services and pharmaceuticals and medical technologies, in the future. It will also speed up bringing in products and product R&D, strengthen business expansion efforts, and investment and M&As, so as to achieve leapfrog development. For the Chinese medicine business, leveraging the country's policies to vigorously help the Chinese medicine industry develop, the Group will grasp the policy dividend of TCM and continue to develop the whole industry chain, increasing the trading of Chinese medicinal materials focusing on varieties, while accelerating the development of TCM decoction pieces and formula granules, which have huge market potential. It will also actively invest in the R&D and introduction of innovative Chinese medicines, classic ancient prescriptions of Chinese medicines, finished dosages and proprietary Chinese medicines. For its medical and healthcare services business, the Group will strengthen operation of the TDMalls and speeding up expansion via building its own clinics, franchising and mergers and acquisitions, and as well using different equity investment and cooperation modes. While prioritizing the development in the Guangdong-Hong Kong-Macao Bay Area, the Group will push for nationwide and global reach. At the same time, the Group will continue to improve and perfect its "TDMall on Cloud" app to "enhance user experience", for better online and offline integration, providing patients with convenient and intelligent high-quality Chinese medicine services. On the pharmaceuticals and medical technologies business front, the Group will strive to build up its core product brands such as Tuoping and Tuoen, focusing on developing cardio-cerebrovascular and pediatric products and consolidating relevant advantages. It will also expand its sales network to cover lower-tier markets so as to booster market share and actively expand CDMO and CMO business to boost revenue. In the future, it will apply 3D tactics (BD - business development, ID - investment and development, and R&D - research and development) in developing products with market potential, especially major product types, to provide impetus for long-term sustainable development.About Tianda Pharmaceuticals LimitedTianda Pharmaceuticals Limited ("Tianda Pharmaceuticals", listed on the Hong Kong Stock Exchange, stock code: 0455.HK) implements the following development strategies: development of Traditional Chinese medicine ("TCM") as its foundation, development of innovative drugs and medical technologies, as well as development of high-quality medical and healthcare services, striving to become a leading pharmaceutical enterprise that sets its footholds in China while seeking to expand its presence worldwide. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

26 8 月, 2022

CMS Releases Its 2022 Interim Report, Achieves Sustained Growth with Its Platform Strategy

SHENZHEN, CHINA, Aug 26, 2022 - (ACN Newswire via SEAPRWire.com) - China Medical System Holdings Limited ("CMS", 867.HK) released its 2022 interim report on August 22. In the first half of 2022, CMS delivered an outstanding interim results -- it achieved stable performance growth in several business segments, and solid progress in clinical development and registration of innovative products in China, and launched Southeast Asia business to empower its long-term development.According to CMS' 2022 interim report, the turnover was RMB4,447.8 million (H1 2021: RMB3,843.0 million), representing an increase of 15.7% over the same period last year; in the case that all medicines were directly sold by the Group, the turnover would increase by 21.1% to RMB5,170.0 million (H1 2021: RMB4,269.3 million). Profit for the period was RMB1,796.3 million (H1 2021: RMB1,631.6 million), representing an increase of 10.1% over the same period last year. CMS's turnover and profit for the previous ten interim periods have maintained a sound growth momentum with both CAGR exceeding 20%.Rooted deeply in pharmaceutical industry, the Group has developed a product portfolio covering cardio-cerebrovascular, gastroenterology, central nervous system, dermatology medical aesthetics, ophthalmology, pediatrics and other specialty therapeutic fields. With leading drugs commercialization capability in China, CMS achieved excellent financial performance and initiated its unique "collaborative R&D and investment" innovative R&D strategy. The year of 2022 marks the 30th anniversary of CMS's establishment. As a mature pharma, CMS has maintained steady growth momentum, and has continuously expanded its business boundary with platform strategy. The 2022 interim report shows the future growth potential of CMS.Commercialization platform: enabling steady growth of "Cardio-cerebrovascular and Gastroenterology" business and rapid development of emerging business, "ophthalmology" and "dermatology and medical aesthetic".The commercialization capability is the core competitive advantage of CMS and the cornerstone of its continuous growth. The Group's marketed product lines, including cardio-cerebrovascular, gastroenterology, ophthalmology, dermatology and medical aesthetic line, all achieved steady growth in the first half of 2022. Among which, cardio-cerebrovascular and gastroenterology lines, CMS's traditional business, increased by 26.0% and 17.4% respectively year-on-year. The core products have maintained strong growth momentum after being commercialized for years, and several products have ranked first among peers, which is rare and it highlights the value of CMS's commercialization platform.As the core emerging strategy of CMS in recent years, the "ophthalmology" and "dermatology and medical aesthetic" businesses, with product matrix being expanded while business system getting shaped, have both achieved steady growth by leveraging the Group's commercialization capability.In particular, CMS has been engaged in the ophthalmology field for many years. Both its core product Augentropfen Stulln Mono Eye drops and innovative pipeline Cyclosporine Eye Drops 0.09% have attracted considerable attention. In July 2022, the Group acquired the global assets related to VEGF/ANG2 tetravalent bispecific antibody from Wuhan YZY Biopharma Co., Ltd, which further enriched its innovative pipeline in the ocular fundus diseases treatment field; In August, the Group entered into an agreement with EYE TECH CARE ("ETC"), a medical company of France, for the EyeOP1 ultrasound glaucoma treatment device and made an equity investment to acquire approximately 33.4% equity interest in ETC. CMS's ophthalmology product matrix has expanded from prescription medicine to devices and consumables through this collaboration, while CMS's academic platform and channel resources accumulated over years in the ophthalmology field will provide a solid foundation for the rapid development of new products. Based on this, CMS has built a clearer development path for its ophthalmology business that featured with high-growth potentiality.For the dermatology and medical aesthetics business, since the Group promoted its independent operation in 2021, the Group has acquired several medical aesthetics specialty companies and multiple marketed products with professional brands in the field, which have accelerated its development in the dermatology prescription and medical aesthetic fields. The focused ultrasound technology R&D platform of CMS, is developing three major series of products, including FUBA Focused Ultrasound Fat Reduction Device Series, LITU Focused Ultrasound Skin Treatment Series, and MEBA Ultrasonic Transdermal Delivery Series, to further expand its energy-based medical aesthetic devices product portfolio. In August 2022, CMS acquired 60% equity interest in Heling Medical, and entered into an exclusive license agreement for three dermatology-grade skincare products. Heling will act as the Group's R&D platform for dermatology-grade skincare products and accelerate the category expansion and product iteration for CMS. With the operation system of "CMS Aesthetics" getting shaped and the continuous acquisition of new products, CMS is steadily moving forward with its professional operation, compliance management and resource advantages in this rapidly developing and gradually regulated medical aesthetic market.Innovation platform: "collaborative R&D and investment" strategy broadened its innovation development potentialWith commercialization capability being its foundation of innovative R&D, CMS has developed its innovative strategy -- "collaborative R&D and investment" that could best leverage its strengths and capabilities. Capitalizing on its strong commercialization gene, extensive academic resources, as well as deep market understanding, CMS is able to identify unmet clinical needs with a sharp business insight, and locate differentiated innovative products with both social and economic value through precise product evaluation.Nowadays, relying on its increasingly matured innovative R&D team and project management system, while constantly acquiring mature innovative products, CMS also collaborated with biotech companies with innovative technology platforms, to jointly develop innovative products, which could make the most of respective strengths and improve the R&D efficiency by shortening the R&D cycle and reducing expenses. Meanwhile, with its improving scientific mindset and R&D capabilities, the Group actively participated in the target selection and development path planning of innovative products, to conduct customized development of innovative products. Through multi-dimensional collaborative development models, CMS has formed an "innovative product incubation platform" empowering the development of innovative clinical practice in the world.At present, CMS has acquired nearly 30 innovative products, mainly first-or best-in-class products, among which 9 products have been approved for marketing in the U.S./Europe. During the Reporting Period, 3 products of CMS were under NDA review in China, 1 product was approved for marketing in Hong Kong of China, 1 product's NDA was granted the priority review designation by the CDE, and 3 products' China bridging trials were progressing steadily after the completion of first subject dosing. CMS's innovation development is expected to enter a maturing phase and delivering harvest.Relying on its innovation transformation platform, CMS is capable to manage the R&D processes and rapidly promote the clinical trial progress. The Group has submitted NDA of several innovative products, including Tildrakizumab Solution for Injection and Methotrexate pre-filled injection in China, which only took 1-2 years since acquisition. In July 2022, CMS has overcome challenges under pandemic prevention and control, and took only 6 months (including the Chinese Spring Festival) to complete the enrollment of all 1,800 subjects in China bridging trial of Methylthioninium Chloride Enteric-coated Sustained-release Tablets. It took only 2.5 months (including the Spring Festival) to complete the enrollment of all 220 subjects in the China bridging trial of Tildrakizumab previously.With its platform getting increasingly matured, CMS is expected to benefit from the multiplier effect the platform provides and enhance its future scalability.Southeast Asia Platform: A one-stop operating platform empowers global pharmaceutical companies to enter Southeast Asia marketCMS 2022 interim report indicated it has achieved impressive progresses in the Southeast Asia market.With the rapid development of China bio-pharmaceutical industry, increased industrial scale and enhanced drugs quality and scientific research level, Chinese pharmaceutical companies have gained stronger competitiveness in the global market, which has presented a critical opportunity for Chinese pharmaceutical companies to develop overseas market. Compared to the United States, Europe, and Japan market with mature pharmaceutical system, Southeast Asia and other emerging markets have greater unmet pharmaceutical demands and provide more opportunities. Pharmaceutical industry trends in the past two years indicates that the Southeast Asia market has drawn great attention and the connection between China innovative drug industry and Southeast Asia market has been getting stronger. At this point, CMS stands out with comprehensive Southeast Asia business development strategy.Given the information in its 2022 interim report, CMS Southeast Asia business has achieved preliminary results. It has set up an independent operating entity with clear organizational structure, and has built a core team for its business in Southeast Asia, CMS aimed to form a platform covers innovative R&D, production and sales, helping Biotech and pharmaceutical companies in Europe, America, Japan, and China to rapidly enter the Southeast Asia market and achieve mutual beneficial cooperation and strategic complementarity.In terms of products, CMS newly acquired the innovative EyeOP1 Glaucoma Treatment Device in August 2022, which has been approved for marketing in Southeast Asia. At the same time, CMS's Southeast Asia business entity has obtained exclusive rights for several insulin products in 11 countries in Southeast Asia, which is an initiative for insulin products of mainland China to enter the Southeast Asia market. As a rigid demand for diabetes, this product series has the advantages of excellent quality and affordable price. In Southeast Asia market, the major insulin products are European and American imported products with high price and the penetration of insulin products is significantly insufficient, which indicates a huge market potential.The platform in Southeast Asia market is bound to become an important engine driving CMS's future development.ConclusionPlatform building requires a solid foundation, but the potential of the platform is unlimited. As a "Platform Company", CMS will leverage its accumulated advantages to continuously optimize it platform, thus laying a solid foundation for its high growth and business sustainability.As of now, CMS 's PE-TTM is trading only 7.2 times, and its TTM dividend yield reaches 5.5%. Given its growth potential, steady operation, organized development strategy, combined with the strong resilience of the pharmaceutical and medical aesthetic industries, CMS can achieve " Davis Double Strike " is worth looking forward to.Media ContactMedia Team, CMSEmail: ir@cms.net.cnWebsite: http://www.cms.net.cn/Source: China Medical System Holdings Ltd. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

9 8 月, 2022

Legend Capital Super Antibiotic Portfolio Company: Scarce Enterprise MicuRx Pharmaceuticals is Listed on the STAR Market Successfully

HONG KONG, Aug 9, 2022 - (ACN Newswire via SEAPRWire.com) - On August 5, 2022, Legend Capital portfolio company MicuRx Pharmaceuticals, a scarce enterprise in super antibiotic, was successfully listed on the STAR Market. MicuRx Pharmaceuticals issued 130,000,000 shares this time, accounting for 19.84% of the total share capital after the issuance. The total amount of funds raised is expected to be about RMB 960 million at the issue price of 8.16 yuan per share. MicuRx Pharmaceuticals is an innovative drug company focusing on novel therapeutics for infectious diseases. With global independent intellectual property and competitiveness, MicuRx Pharmaceuticals is committed to the discovery, development, and commercialization of innovative drugs for unmet medical needs. The main products from MicuRx Pharmaceuticals include Contezolid, MRX-4, and MRX-8. Since the company's establishment, MicuRx Pharmaceuticals has adhered to the principle of "Better therapy through superior medicine", focusing on the increasingly severe problem of bacterial resistance worldwide. With the core competitiveness of solving clinical problems and differentiated innovation, MicuRx Pharmaceuticals aims to provide more effective and safer therapeutic options for patients suffering from the most common and severe drug-resistant bacterial infections. MicuRx Pharmaceuticals has an international core R&D team and has established R&D centers in China and the US. The company's R&D team has rich experience in international innovative drug development and management, and it has led or participated in developing a number of marketed anti-infective new drugs. Legend Capital invested in MicuRx Pharmaceuticals in 2020 and has long supported the company's development. "Congratulations to MicuRx Pharmaceuticals. The successful listing represents the recognition of MicuRx Pharmaceuticals' innovative R&D in the field of multi-drug-resistant bacterial infection and its globally competitive innovative drug. Legend Capital and the MicuRx team have established a deep friendship, and Legend Capital is honored to participate in the MicuRx business led by Dr. Zhengyu YUAN, the founder of MicuRx Pharmaceuticals. Dr. YUAN is a very tenacious and spiritual entrepreneur who dares to take risks, filling the Chinese market gap in the scarce field of multi-drug-resistant bacterial infection. With the consolidation of the company's leading edge and position, Dr. YUAN has not only built an international team and an innovative global enterprise but also made positive contributions to the development of human health." Said Legend Capital.Legend Capital has long paid close attention to investment in significant themes in the field of life sciences. In addition to MicuRx Pharmaceutical, Legend Capital has also made investments in plenty of other outstanding companies, many of which were listed on A-shares and H-shares, such as Pharmaron (300759.SZ) (03759.HK), Kingmed Diagnostics (603882.SH), Wuxi Apptec (603259.SH) (02359.HK), WuXi Biologics (02269.HK), Recbio (02179.HK), Innovent Biologics (01801.HK), Berry Genomics (000710.SZ), Harbour BioMed (02142.HK), New Horizon Health (06606.HK), and Chemclin Diagnostics (688468.SH).About Legend CapitalFounded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea. It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies through solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors. Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative. For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital). Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

1 4 月, 2022

Official Listing of Recbio on HKEX, Vaccine Innovation and Iteration Accelerated by Novel Adjuvant Technology

HONG KONG, Apr 1, 2022 - (ACN Newswire via SEAPRWire.com) - On March 31, the China-based novel vaccines company - Jiangsu Recbio Technology Co., Ltd. ("Recbio" or the "Company", Stock Code: 2179.HK) went public and was officially listed on the Hong Kong Stock Exchange. Assuming the Over-allotment option is not exercised, 30,854,500 H shares were issued under the Global Offering, with a price of HK$24.80 per share and proceeds up to approximately HK$765 million. The Hong Kong public Offering received an enthusiastic response from investors and was over-subscribed by more than 9.65 times. As the cornerstone investors of the Company, the cornerstone subscription ratios of Yangtze River Pharmaceutical, Harvest Global and Sequoia China exceed 50%. Previously, the Company has won the favor of many well-known investment institutions, including Legend Capital, LYFE Capital, Oriental Fortune Capital, Fer-Capital, Sequoia China, CMB International, Lake Bleu and Temasek. Having successfully listed in Hong Kong, becoming "the first HPV vaccine stock in Hong Kong" and "the first novel adjuvant vaccine stock in Hong Kong", Recbio is expected to inject new vitality into the capital market in Hong Kong.Chart: Innovative vaccine portfolio of RecbioDomestic vaccine innovation and iteration accelerated by novel adjuvant technologyVaccines are praised as the "golden track" in the medical health field. According to the Frost & Sullivan report, from 2016 to 2020, the size of the global vaccine market has increased from US$27.5 million to US$39.9 billion at a CAGR of 9.7%, while the CAGR of global pharmaceutical market was only 3.02%. China has become the second largest vaccine market globally, with the market volume increased from RMB27.1 billion in 2016 to RMB75.3 billion in 2020 at a CAGR of 29.1%.Regarding the insufficient domestic supply of and the unmet urgent demand for novel vaccines, it has become an important part of the Development Planning of the Pharmaceutical Industry in the "14th Five-Year Plan" in China (referred as the "Plan") to promote enterprises to speed up the development of related products and to achieve product availability as soon as possible. Regarding the development of the vaccine industry, the "Plan" also states that research and development of novel vaccines (such as novel adjuvants for vaccines and mRNA vaccines) and building of industrialization capability shall be accelerated. It also emphasizes on the development of novel COVID-19 vaccines, herpes vaccines, polyvalent human papillomavirus (HPV) vaccines and other products. As an innovative novel vaccine company, Recbio has constructed the three core technology platforms consisting of novel adjuvants, protein engineering and immunological evaluation, forming synergy in antigen design and optimization, adjuvant development and production, identification of the best combination of antigen and adjuvants. The Company has built a comprehensive and high-valued vaccine portfolio consisting of 12 candidates, covering cervical cancer, COVID-19, adult tuberculosis, shingles, HFMD, influenza etc. It covers five of the ten diseases with the greatest burden under the 2019 Global Burden of Diseases issued by the World Health Organization and disease areas of the three of the top five globally bestselling vaccine products in 2020. Novel adjuvant for vaccines is the "bottleneck" technology of innovative vaccines. Through years of technical research, Recbio has successfully achieved independent control of all FDA-approved novel adjuvants, and is one of the few companies in the world capable of independent development of novel adjuvants. It has also successfully applied in various innovative vaccines such as COVID-19 vaccines, HPV vaccines and shingles vaccines.A moat constructed with a rich product portfolioHPV vaccines are one of the most commercially valuable vaccines in the world. It is expected that there will be 234 million females in China aged 9-45 unvaccinated for HPV in 2025 assuming 3 doses per person, requiring additional 702 million doses. Currently, Recbio has formed a full coverage of bivalent, quadrivalent and 9-valent vaccines and novel adjuvant upgrades in the field of HPV vaccines. The core product REC603, a recombinant HPV 9-valent vaccine is currently under phase III clinical trial, expected to become the first approved domestic HPV 9-valent vaccine. Regarding the global immunization program market, REC601, a bivalent vaccine has the potential to become one of the most popular vaccine options. At the same time, the Company is also in the process of developing second-generation HPV vaccines, namely REC604a (a quadrivalent vaccine) and REC604b (a 9-valent vaccine). Both vaccines have adopted our self-developed novel adjuvants and are expected to achieve two-shot regimens in the future. The construction of the first phase of the HPV manufacturing facility of Recbio is expected to be completed by the end of this year. By then, it will realize the designed capacity of five million doses of HPV 9-valent vaccines or 30 million doses of HPV bivalent vaccines per year. As the first cancer preventive vaccine in the world, HPV vaccines have been in shortage for a long time. With the gradual release of domestic HPV vaccines in the future and the gradual release of production capacity, domestic substitution will be accelerated. Protein engineering, novel adjuvant and other technology are comprehensively used in ReCOV, the COVID-19 vaccine of Recbio, to thoroughly optimize the vaccine, allowing ReCOV to possess a series of comprehensive advantages, including excellent safety, strong immunogenicity, strong cross-protection effectiveness with Omicron and Delta mutant strains, easy-to-scale-up production, low production cost, high preparation stability, storage and transportation in room temperature etc. The international phase II/III clinical trials of such vaccine are currently in progress. EUA/BLA applications are estimated to be submitted in 2022. On the side of production supply, the Company has completed the construction of our GMP-standard manufacturing facility for ReCOV and obtained the drug production license in November 2021. The manufacturing facility has a total GFA of approximately 17,000 sq.m., has the potential to support an annual manufacturing capacity of 300 million doses of ReCOV and can be used to manufacture recombinant shingles vaccines.In the field of shingles vaccines, shingles virus is dormant in almost all adults over 50 of age in China, affecting approximately 2.5 million adults in China every year. However, Shingrix is currently the only shingles vaccine approved in China. The novel adjuvant which benchmarking AS01 is adopted in REC610 of the Company, significantly improving vaccine immunogenicity, hoping to achieve domestic substitution quickly. Recogen, our subsidiary has first achieved technology breakthrough in lyophilized mRNA vaccines. It has applied the self-developed freeze-drying technology to achieve preparation stability at 4 degrees Celsius and 25 degrees Celsius, allowing storage and transportation under general cold-chain conditions, effectively solving the current defect in availability of mRNA vaccines."We are glad that the Hong Kong stock IPO has been highly recognized by the capital market. The successful listing of Recbio is expected to bring more confidence to the Hong Kong 18A stock market. Thanks to all the investors for their strong support, we were able to successfully go public as originally planned in such extremely depressed environment of the Hong Kong capital market!" Regarding the listing of Recbio in Hong Kong, Dr. Liu Yong, the Founder, Chairman of the Board, and General Manager of Recbio stated that, "Against the backdrop of a huge global demand for innovative vaccines in this era, through continuous innovation and international cooperation, we will accelerate the commercialization of products in the global market, promote innovation in the entire value chain of the vaccine industry from R&D to commercialization, and create greater value for shareholders and investors. Today is the beginning of a brand-new journey for Recbio. I hope that all investors will continue to support our Company. Let's hope we will continue to move forward hand in hand, through the sweltering summer and winter, and create new glory together!"About RecbioFounded in 2012, Recbio is an innovative vaccine company with independent research and development technology as its core driving force. It is committed to building a full value chain of innovative vaccines, covering research and development, production and commercialization. The Company has always adhered to the mission of "creating first-class vaccines and protecting human health". With a strong research and development engine comprising of novel adjuvants, protein engineering, immunological evaluation and other core technology platforms, strategically focusing on disease areas with significant burden such as cervical cancers COVID-19, shingles, adult TB, HFMD and flu etc., the Company has established a high-value product pipeline consisting of 12 vaccine candidates with independent intellectual property rights, in order to meet the under-fulfilled public health needs. For more information, please visit https://www.recbio.cn/. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

18 11 月, 2021

4th CSRtech Innovation Summit (CSRtech 2021) Successfully Held, Empowering Innovative Startups

SHANGHAI, Nov 18, 2021 - (ACN Newswire via SEAPRWire.com) - The 4th CSRtech Innovation Summit (CSRtech 2021), co-organised by Orange, Saint-Gobain, OPPO and Deutsche Telekom, and co-hosted by Impact Hub Shanghai, was held successfully in Shanghai on October 28. Startups, large domestic and foreign companies and investment institutions gathered for a sustainable development vision in the post-COVID-19 era. The summit looked into the prospects and explored CSR in the context of China's carbon peak and neutrality goals, and further promoted the practice of CSR by empowering innovative tech startups.CSRtech 2021: Thirteen outstanding startups selected for innovative products, services and technologies responding to the challenges of "Protect Our Planet", "Drive Sustainable Business" and "Value Everyone's Wellbeing".CSRtech 2021 consisted of keynote speeches, roundtables and startup pitches. The summit invited experts to elaborate the effect of climate change and China's carbon emission goals, enterprises to share their best practice and exploration of green transformation, and startups to present their innovative solutions. The summit offered a platform to connect innovative startups and the needs of socially responsible industries to further promote the best practice of CSR.Orange has co-organized the CSRtech Innovation Summit for four consecutive years, since its launch in 2018. Dr. Alex WANG, VP of Global Procurement & Supply Chain at Orange Group, stated that CSRtech put social responsibility, which had been promoted with industrial partners for a long time, into practice through involving innovative technologies. Orange would like to thank all the startups for providing products and solutions in favor of social responsibility, and hoped to work with partners from all sectors to reach a consensus on sustainable development.Saint-Gobain, as one of the first multinational companies setting a carbon neutrality target for 2050, is driving sustainable developments in the areas of construction, transportation, healthcare and industrial applications. To achieve the net-zero carbon target by 2050, the Group has developed a clear roadmap and is implementing global initiatives including industrial performance and capacity improvement, product and service innovation, and energy transformation. In his speech, Mr. Denis Michel, Saint-Gobain APAC Secretary General, indicated that participation in CSRtech means a lot to Saint-Gobain. Collaboration between large companies and innovative startups is crucial in addressing various social and environmental challenges.OPPO as a tech company shares the brand mission of "technology for mankind, kindness for the world" and its efforts of becoming a healthier and more sustainable company since day one. Mr. Scott ZHANG, OPPO Vice President of Oversea Sales, shared OPPO's CSR practices and indicated that CSRtech aligns with OPPO's long-standing brand spirit of sustainability. OPPO also believes that sustainable development required the joint efforts of the industry and the whole society, and it hopes to work with cross-industry partners to actively identify innovative solutions so as to create more sustainable values for people and society.Deutsche Telekom has always been committed to innovation for sustainability and has created Green Magenta Program to implement this concept. Melanie Kubin-Hardewig, VP Group Sustainability Management of Deutsche Telekom, explained further in terms of greener consumer products, zero waste, greener networks and greener governance. She emphasized that the Green Magenta Program is a great initiative, but it will not come to fruition without the support and inspiration from innovative startups and solutions.Thirteen outstanding innovative startups presented their innovative products, services and technologies, responding to the challenges of "Protect Our Planet", "Drive Sustainable Business" and "Value Everyone's Wellbeing". Among them were Passive Edge Tech, YOUBANGANDA, SATOR TECH, Autonom Loop and Knowcarbon, focusing on energy and carbon emissions; CarbonPlanet, AI Tyre, OrcauBoat and HOHIILIFE, dedicated to resources and environmental protection; AMA and Virtual Scene, using technology to enable health and safety in daily life; Voibook and OPO Disability Group, focusing on accessibility solutions.This is the fourth year of CSRtech. In these four years, CSRtech has witnessed companies, investors, innovators and every consumer having a deeper understanding of responsible footprint and sustainable development; witnessed the growth and success of many startups, and their collaborations with large companies, making positive impact on industries and society. CSRtech believes that persistent collaboration on open innovation will create a more sustainable and inclusive world, and welcomes more aspirants to join us.Media contact:Saint-Gobain ShanghaiJieqi Zhang, jieqi.zhang@saint-gobain.comJing Zhou, jing.zhou2@saint-gobain.comWebsite: https://www.saint-gobain.com/en Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

26 4 月, 2021

Starting its Industrial Investment in Biotech Companies, China Medical System (0867.HK) has Accelerated its Flywheel of Innovation

HONG KONG, Apr 26, 2021 - (ACN Newswire via SEAPRWire.com) - China Medical System Holdings Limited (0867.HK) ("CMS" or the "Company") has been active in the market this year. From the acquisition of Luqa to enter the medical aesthetic market early this year, the Company has attracted the attention of the market. Recently, it has announced the series of agreement signed with Trinomab Biotech Co., Ltd. ("Trinomab"). CMS will make equity investment in Trinomab, and establish a joint venture (the "Joint Venture") with Trinomab, contributed with cash and related products technologies by CMS and Trinomab respectively. The Joint Venture will entrust CMS with the clinical development and commercialization of all its products in Mainland China, Hong Kong, Macau and Taiwan, and Trinomab with the production of all its products. This collaboration marks the beginning of the CMS's industrial investment in cutting-edge biotech companies.1. What has CMS seen in Trinomab?The announcement has drawn even more attention from the market and people are curious about why Trinomab has successfully attracted CMS to make collaboration with it.Established in 2015, Trinomab was jointly founded by the worldwide known expert Dr. Liao Huaxin and the entrepreneur Mr. Zheng Weihong. It is an innovative global biopharmaceutical company dedicated to the R&D of original natural fully human monoclonal antibodies and providing corresponding scientific services.Trinomab has a new-generation, world-class, core patented technology platform highly regarded in the industry, the natural fully human monoclonal antibody R&D integrated technology platform HitmAb, which is dedicated to the development of original and efficient natural fully human monoclonal antibodies with independent intellectual property rights, suitable for the infectious diseases, autoimmune diseases and malignant tumors, etc. As the fourth-generation antibody technology, "natural fully human monoclonal antibodies" refers to fully human antibodies derived from natural human B-cell clones or its gene expression. It is marked by high safety, having broad spectrum to foreign pathogens and strong affinity with pathogen targets, which can solve the problem of anti-drug antibody reaction in the clinical use of antibody drugs developed by traditional technologies.Based on the HitmAb platform, Trinomab has developed more than 20 new native natural fully human monoclonal antibodies, including those against infectious diseases (e.g., rabies virus, tetanus toxin, cytomegalovirus, respiratory syncytial virus, varicella-zoster virus, novel coronavirus, etc.) and cancers among which, certain antibody products are in the process of rapid industrialization.For example, the Fully Human Hla Antibody of Trinomab contributed to the Joint Venture is a natural fully human antibody against Staphylococcus Aureus (SA) infection, developed via the HitmAb platform, and is now in the preclinical stage. This product neutralizes the alpha-hemolysin (Hla) released by SA to avoid immune downregulation to B cells and to improve immune response. For severe and high-risk patients with SA colonization, compared with antibiotics which are commonly used clinically, Fully Human Hla Antibody of Trinomab has good safety and the preclinical studies have shown good Hla toxin neutralizing activity. It is expected to solve the problems of high mortality, resistance to treatment and side effects from SA infection.With its HitmAb platform technology, Trinomab is constantly discovering new antibodies to advance the iteration of antibody drugs. In addition to keeping projects that are in line with its own strategy for self-development, Trinomab co-develops the rest with partners in the industry, which gives CMS (0867.HK) the opportunity to make this collaboration. From the announcement of CMS, we can find that other than to the product to be incorporated into the Joint Venture, the two sides will negotiate to promote the priority collaboration on other specific products, so we can expect more projects to be incorporated into the Joint Venture in the future. In General, Trinomab owns a cutting-edge technology platform and can continue to promote the R&D and production of innovative drugs through the technology platform. While having great development potential, the strength of Trinomab's team is also quite impressive. So why did Trinomab still gladly accept the olive branch passed by CMS?We believe that although Trinomab has considerable advantages in technology platform and drug R&D, promoting the clinical development and commercialization of new drugs is a major challenge of the channel resources for pharmaceutical companies, and at present, Trinomab does not have the advantages in the clinical and commercialization capabilities, and the accumulation of these capabilities and resources does not happen overnight. Therefore, CMS, which has rich domestic channel resources and strong commercialization ability, chooses to join hands with Trinomab to achieve a win-win combination, which opens up a fast track of commercialization for its subsequent products, and will play an important role in promoting the overall healthy development of Trinomab.2. Taking this collaboration as a model, CMS will initiate the industrial investment in biotech companies and accelerate the "flywheel" of innovative R&DFrom the above, we can see that CMS is precisely interested in the core technology platform of Trinomab. This kind of collaboration is not without a precedent. As early as in 2018-2019, Trinomab had reached cooperation agreements with Changchun BCHT Biotechnology Co. and Wuxi Biologics, etc. It can be seen that the Trinomab's capability of monoclonal antibody drug R&D based on its patented antibody R&D platform has been fully recognized and supported by well-known companies in the industry.CMS has been working in the industry for many years and has been highly focused on the two core segments of the pharmaceutical industry chain - R&D and marking. CMS' promotion capability is undeniable, with an academic network covering about 57,000 hospitals and medical institutions nationwide and a professional academic promotion team of about 3,300 staffs. And the Company has created leading market positions for its many branded drugs. It also achieved fruitful results in the past through equity investments in overseas biotech companies or strategic cooperation with leading pharmaceutical companies for collaborative R&D. In the past three years, CMS has rapidly acquired more than 20 innovative products with unique and differentiated competitive advantages, such as Diazepam Nasal Spray, Tildrakizumab, Cyclosporine Eye Drops 0.09%, etc., demonstrating its strong innovation ability.The collaboration with Trinomab is an active exploration of CMS' industrial investment in innovative biopharmaceutical companies. In the past, the Company has always been focusing on overseas markets, but with this collaboration, it also marks the official opening of CMS' industrial investment in domestic cutting-edge biotech companies.So, what are the features and advantages of this investment?a. Exploring a new model for industrial investment and building a unique competitive product innovation capabilityUnlike simply building its own R&D team or purely introducing products for sale, CMS has been focusing more on the two core parts of the pharmaceutical industry chain, product competence and promotion capability in its past development. Base on this, in the past, to achieve effective integration of pharmaceutical companies and related resources, the Company's product pipeline was often more product-based, that is, to invest in a company for a certain product. It can be seen that so far CMS has invested in the equity of 8 overseas biotech companies and has made strategic cooperation with 6 leading overseas pharmaceutical companies.CMS has developed strong product selection capability and is able to continuously find innovative drugs with market potential in this path. However, due to the emphasis on product selection, there is no direct relationship between new products, or between the companies the Company invested in, making it difficult to achieve a unified effect. Based on this, CMS further optimized its investment layout and began to focus on cutting-edge technology platforms to explore new products. The benefits of doing so include not only expanding the number and scope of selected products and achieving effective synergy within the platforms, but also forming an organic iteration of innovative products and achieving deep control of the industrial ecology.From the collaboration with Trinomab, through equity investment + establishment of the joint venture, CMS has made early involvement in the domestic leading technology platform and innovative resources, and advanced its current pipeline of mainly mid- and late-stage products to the early stage, so as to rapidly enrich the innovation pipeline, and realize the expansion from the "point" of investing in innovative drugs as the core to the "extension" of investing in innovative technology platforms, in order to form an industrial investment model that can be rapidly duplicated in the future. Under this model, CMS will actively explore leading technology platforms for cooperation, so as to continuously strengthen its core competitiveness in innovative R&D and introduce cutting-edge innovation results, to build a unique product innovation capability.b. Achieving complementary advantages and giving full play to CMS' clinical development and commercialization strengthsBehind the Company's industrial investment in domestic cutting-edge biotech companies lies not only its own financial or product selection strength, but also the strengths in innovative R&D and product commercialization.From the perspective of clinical promotion ability, the completion of clinical enrollment of 220 patients for the blockbuster innovative drug Tildrakizumab in just around two months fully proves that CMS has the hard strength to quickly enroll patients and promote the clinical development with the synergy of its network and expert resources.In addition, in terms of commercialization ability, the Company has been in the industry for more than 20 years, with its accumulated extensive industry resources, CMS is able to undertake the commercialization of innovative products and achieve rapid sales growth in its efficient operation system, and ultimately achieve an efficient cash flow cycle. CMS' commercialization ability is not purely based on its sales capability, as we can see the Company's selling expense ratio has been maintained at about 22% for years, which is relatively low compared with the industry level, it can be illustrated that CMS is not only very compliant in sales and promotion, but also attached great importance to differentiation advantages and market demands of products rather than blinded innovation, so as to build strengths in its products and brands and achieve win-win for its own economic benefit and the society.c. Featured with light assets and high efficiency, CMS is aimed at creating VIC model 2.0At present, there are mainly three models of the innovative drugs R&D in China, namely, big pharma model (independent R&D), biotech model (license in/out) and VIC model (active capital investment).The big pharma model is often applied to large pharmaceutical companies, as it requires pharmaceutical companies to have sufficient profit-making products to support their investment in R&D. The model requires companies to focus more on the creation of R&D pipeline, as well as the cultivation of research and sales teams, which is apparently an asset-heavy business model.The biotech model is an R&D model based on drug licensing and development. Under this model, pharmaceutical companies have the key R&D technologies, so they can generate revenue through "License out" clinical stage products, and diversify their R&D pipeline through "License in".The VIC model is a combination of "VC (venture capital) + IP (intellectual property) + CRO (R&D outsourcing)", which is also known as the active new drug investment model. Under this model, the party that owns the IP receives venture capital, sets up a project-based company, and collaborates with a CRO in R&D. Similar to this model, CMS' industrial investment in innovative biotech companies is featured by being relatively asset-light, low-cost and highly efficient, which can save investment and achieve high cost-effectiveness. For example, with this model, CMS does not need to build its own labs, factories, etc. It acts more as an industry integrator and predator to explore innovative products and technology platforms, and uses its own advantages to integrate resources and continuously realize the incubation and commercialization of innovative products.The difference between CMS' industrial investment model and VIC model is that the leading party of VIC model is the capital, whose understanding of the industry and contribution to product innovation is very limited. In contrast, CMS' industrial investment is a more advanced version of the VIC model, in which the leading party is CMS. With accumulated resources in the industry for a long time and deeper understanding of products, CMS is more capable of promoting the R&D and commercialization of innovative drugs, and is able to create a systematic, replicable and long-term competitive industrial investment model of innovative drugs. CMS will also build a highly competitive barrier for itself in the industry, and with the maturing of the platform ecology, its business will be expanded and the business potential will be unleashed continuously.3. ConclusionBased upon the current situation of China Medical System (0867.HK), its existing business has maintained a solid development momentum, with its FY20 annual report showing that the turnover up by 14.4% year-on-year to RMB 6.946 billion, net profit up by 30.7% to RMB 2.556 billion; bank balance, cash and realizable acceptance bills totaled RMB 3.114 billion as of December 31, 2020. The excellent performance shows that the Company has the necessary strength to support its industrial investment in innovative drugs and actively explore innovative platforms and projects in the industry.At the same time, this model is being continuously optimized in order to make it replicable. With the emergence of the platform ecology of the Company, top advantageous resources in the industry will be absorbed, and the platform will eventually become an important birthplace of innovative products. And the value generated from continuous commercialization will in turn feed the entire ecology, and the flywheel of the Company's growth will also be fully accelerated.From another perspective, CMS is not the "star" chased by capital, but more like a "producer" in the pharmaceutical innovation industry, who constantly incubates quality projects to meet the market demand and realize the continuous leap of its own value through the integration and optimization of industry resources.Gelonghui Statement: The views in this article are from the original author and do not represent the views and position of Gelongghui. As a special reminder, investment decisions need to be based on independent thinking, the content of this article is for reference only, not as actual operational advice. Trade at your own risk.Gelonghui Statement: The views in this article are from the original author and do not represent the views and position of Gelongghui. As a special reminder, investment decisions need to be based on independent thinking, the content of this article is for reference only, not as actual operational advice. Trade at your own risk.By Gelonghui Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

3 4 月, 2021

China Medical System (0867.HK): Accelerating Development and Stepping to a New Height Driven by Innovation

HONG KONG, Apr 2, 2021 - (ACN Newswire via SEAPRWire.com) - As the earning season approaches, once again listed pharmaceutical companies are attracting the attention of the public. Recently, China Medical System Holdings Limited ("CMS" or the "Company") has released its annual results, with both revenue and profit higher than market expectations. According to its 2020 annual results, turnover is up by 14.4% to RMB6.946 billion; net profit up by 30.7% to RMB2.556 billion; basic earnings per share up to RMB1.024, with a proposed final dividend of RMB0.20 per share.In the past, influenced by expectations of the effects of China's centralized procurement policy and the Company's product transition, CMS's valuation in the capital market was once under pressure, but with the Company's strategic transformation from a CSO to an innovative pharmaceutical company, coupled with its own solid business growth, its share price has gained a significant increase in the past few months, but is still relatively low in the capital market. The Company's current dynamic P/E ratio is only about 13x, with a market value of HK$ 39.4 billion. However, market values of innovative pharmaceutical companies without profits such as BeiGene and Junshi Biosciences have well exceeded HK$50 billion or even HK$100 billion in HKEX. This shows that the share price of the Company does not reflect its real value after its transformation. It's worth digging deeper into the innovative pipeline of the Company to take a look at its long-term growth potential and the inevitability of valuation increase.1. Firm in transition, the Company is using S&D model to drive its innovative development Looking back at its history, the Company began introducing exclusive or original drugs from multinational pharmaceutical companies through rights control or exclusive sales agreement early in 2010, creating a unique "CMS Model". Under this model, the Company has accumulated a strong network of overseas upstream resources and good reputation, and formed a strong product evaluation system. However, considering the potential impacts of the Company's existing products, which are all original or exclusive drugs with expired patents or no patents, and China's centralized procurement policy on performance growth, CMS began to actively adjust its business strategy and transformed into an innovative pharmaceutical company at full speed since the end of 2017.The true meaning of rebirth lies in the courage to kill your past self. As a CSO leader, CMS takes advantage of its competences in deployment of innovative drugs in its gradual transformation, and has formed a development path that is different from most other biotechs and innovative pharmaceutical companies.First of all, the Company's original business has maintained a steady growth over the years and generated strong cash flow, which has given itself the confidence to further expand its business, while its long-term accumulated resources and networks overseas have also given it more opportunities to quickly deploy overseas innovative resources. For various reasons, CMS has transformed itself into a venture investor in overseas pharmaceutical companies and actively promoted its presence in the innovative drug field. Through equity investment in overseas biotech companies and strategic cooperation, the Company has rapidly formed a R&D pipeline covering a number of innovative products in just around three years.The following are some highlights of the Company's deployment of innovative drugs:a) Excellent BD capability and mature system help CMS enter into the innovative drug field quicklyCompared with the R&D (research & development) path, which is common in pharmaceutical companies, the Company adopts an S&D (search & development) model, i.e., gradually enriching its innovative pipeline through global search for quality innovative drug projects and early R&D participation. This model particularly tests the Company's ability to screen and evaluate products. Looking back at the Company's history, as a leading CSO company, CMS' unique vision and product selection ability has been fully verified by the introduction of a series of blockbuster original products with clear efficacy, sufficient clinical evidence and competitive differentiation in the past. The Company has also achieved excellent performance with these quality products for a long time. And with the transition, this long-tested ability is continuing to help its selection of innovative products.In fact, as the fastest way to deploy innovative drugs, the Company has also polished a complete and mature BD system. From top-level design, introduction strategy, clinical development in China, to the match with existing products and sales teams, and even product commercialization, CMS has built a thorough mechanism and cultural foundation that are suitable for the growth and commercialization of innovative drugs.In the past three years, CMS has quickly acquired more than 20 innovative products with unique competitive advantages, including Diazepam Nasal Spray, Tildrakizumab, Cyclosporine Eye Drops 0.09%, etc., and achieved great results, which fully validates its strong and sustainable BD capability and forms a competitive moat, providing CMS with opportunities to achieve a higher premium valuation.b) Avoiding competition in overpopular products, CMS tries to find "diamond in the rough" with a differentiated product selection strategyIn fact, according to its footprint in innovative product deployment, due to its innate promotion-driven genes, the Company is more capable of exploring new products from the perspective of marketing and promotion. It does not blindly pile up popular products, but takes cost effectiveness, market potential and whether meeting unmet market needs as the benchmarks, and takes a long-term view of the commercial prospects and the localization value of the innovative pipeline.In recent years, there have been pharmaceutical companies who spend a lot of money to buy some seemingly sexy, but very competitive drugs. Taking PD-1 for example, its R&D costs hundreds of millions of dollars, but the competition between pharmaceutical companies is fierce. With the price reduction caused by national centralized procurement, it is clear there has been serious involution in this field. This is the kind of fields that CMS has been intentionally avoiding in its selection process. The innovative drugs that the Company has acquired all have differentiated competitive edges and considerable market potential. Taking the products mentioned above as examples, Diazepam Nasal Spray is an innovative drug targeting acute repetitive seizures that is convenient to use outside the medical setting with a very rapid onset of action; Tildrakizumab is a novel monoclonal antibody targeting IL-23 with high cost-effectiveness for the treatment of psoriasis; Cyclosporine Eye Drops 0.09% is a novel, preservative-free, clear ophthalmic solution using a globally patented nanotechnology for the treatment of dry eye.In addition, let's take the Methotrexate Pre-filled Syringe/Pen introduced by the Company last year as an example to see the characteristics of its deployment of innovative drugs. Methotrexate is an API with a long history, and is referred to in many articles as one of the ten landmark drugs in human history, while many biological agents under development now are also clinically compared with methotrexate injections for equivalence. But even so, as an inexpensive and efficacious old drug, there are severe gastrointestinal side effects in oral preparations resulting in decreased patient compliance, and there is currently neither pre-filled methotrexate injection products approved, nor methotrexate injectables for the treatment of RA on Chinese market. It is based on this typical unmet clinical need that the Company chose to introduce this drug to fill the market gap.c) Rapid clinical advancement capability with significant organizational and institutional strengthsAlthough CMS does not have a CMO with a strong background for the time being, its medical team and clinical capabilities should not be underestimated. In terms of clinical works, CMS plays its resource advantages in clinical development by strictly controlling the core clinical processes such as clinical protocol formulation, patient enrollment and quality control, and cooperates with CROs to jointly promote clinical projects in China.Most of CMS's innovative drugs are in late clinical stages or already marketed in the U.S. or Europe. So, in the design of clinical trials in China, the Company's medical team needs to refer to the clinical protocols of its overseas partners, and then make adjustments and innovations to make the protocols suitable for the Chinese market. Currently, all of the registration trials are progressing smoothly. In addition, with its 3,000+ professional promotion staff and a wide range of hospital and physician resources, CMS has the solid strength needed to quickly enroll clinical patients and promote the clinical development of products. For example, on March 11, the Company announced that it had completed enrollment of all 220 subjects required in the registration bridging trial of its blockbuster innovative drug Tildrakizumab in China in just 2.5 months.d) Strong academic promotion capability helps commercialization of innovative drugsWith more than two decades of successful experience in academic promotion, the Company has accumulated extensive industrial and network resources to carry out the commercialization of innovative products in the future. Its well-established system has also been providing great support to the commercialization of innovative products whether in terms of compliance management, digitalization, or team management and training.The Company has repeatedly mentioned in financial reports its efforts in refining management and compliant marketing, such as optimizing organizational structure, strengthening application of digital tools, enhancing compliance training, etc. Meanwhile, the Company has made continuous efforts on digital promotion for many years, thanks to which, its selling expense ratio has remained at around 22% for years, which is at a relatively low level in the industry. In addition, the Company has a professional team and organizational system. By the end of 2020, the Company's academic promotion system has covered about 57,000 hospitals and medical institutions nationwide, with 3,300 professional academic promotion staff. As a company noted for sales and promotion ability, its strong professional academic promotion capability and compliant and efficient system will bring broad market prospects for its innovative products once commercialized.2. Great market potential for the innovative pipeline and great room for growth for the CompanyAccording to the Company's financial report, by the end of 2020, the Company has more than 20 innovative products with relatively high innovation level, high market potential and competitive differentiation advantages, among which, 9 products have been approved for marketing in the U.S. and/or Europe, and 3 products are in the registration clinical trials in China.According to the R&D progress of its products, the Company is expected to have a number of blockbuster products marketed in succession, which may provide new growth points for the Company. Next, let's take a look at some of the blockbuster products that are expected to be marketed soon as well as their market potential:a) Diazepam Nasal SprayThe product is indicated for acute repetitive seizures in patients six years of age and older, and is expected to be marketed this year. It has received marketing approval from the U.S. FDA, and the Company has completed dosing and blood sample collection of all subjects in the registration trial in China in 2020, and is expected to submit an NDA in the near future.According to Chinese epidemiological data, it is estimated that there are approximately 6 million active epilepsy patients in China, with an additional 400,000 new patients each year. According to the 2002 WHO Demonstration Project, only 37% of Chinese patients with active epilepsy received medication with a treatment gap of 63%, which means only about 2 million patients with active epilepsy received regular treatment. Of the 2 million patients, 20-30% are out of effective control, with an average of nearly 70 recurrent seizures per year. Therefore, it can be estimated that the product's target patient population is at least 400,000, assuming an average of 30 seizures per person per year, and a selling price of RMB300 per spray (with reference to the selling price of about US$300 per spray in the U.S.), the market potential of the product will exceed RMB3 billion per year.b) Cyclosporine Eye Drops 0.09%Expected to be launched next year, Cyclosporine Eye Drops 0.09% is used to increase tear production in patients with dry eye, and has a global nanotechnology patent. The Company received the clinical trial notice of the product from NMPA of China in June 2020 and completed the first subject dosing in December, expecting the product to be launched in 2022. Data shows that the incidence of dry eye in China is about 21-30%, while epidemiological data shows that patients with moderate-to-severe dry eye account for about 40% of dry eye patients. According to this projection, there are over 100 million patients with moderate-to-severe dry eye in China. Since there are various channels of treatment for eye diseases in China, assuming a 10% hospital visit rate for patients with moderate-to-severe dry eye, the target treatment population would be about 10 million. In terms of treatment cost, the clinical study of Cyclosporine Eye Drops 0.09% shows significant improvement in the primary endpoint after 12 weeks of treatment with 2 doses of the product per day, so assuming a 12-week treatment course of the product and a treatment cost of RMB25 per dose (with reference to the selling price of about RMB25 per dose of Zirun(R) 0.05% Cyclosporine Eye Drops (II) of Sinqi Ophthalmic Medications), the product would cost about RMB4,000 per treatment course. Combined with the target population of about 10 million projected above, the market potential for this drug will exceed RMB3 billion if the Company could cover 8% of the patients.c) Tildrakizumab Tildrakizumab is used for the treatment of moderate-to-severe plaque psoriasis, and has already been approved for marketing in the U.S., Europe, Australia, and Japan. In China, with the completion of all subject enrollment in the registration clinical trial, the product is expected to be marketed in 2022.Chinese epidemiological data shows that the incidence of psoriasis in China is about 0.47%, with a total number of patients exceeding 6.5 million. Among them, about 30%, or 2 million patients, are with moderate-to-severe psoriasis. Regarding the current market size of monoclonal antibodies for psoriasis in China, according to the prices of monoclonal antibodies already approved, which generally cost tens of thousands to hundreds of thousands in RMB for annual treatment, and taking into account the price reduction in NRDL price negotiations, RMB100,000 can be taken as the average annual treatment cost. Assuming that the penetration rate of biologics in patients with moderate-to-severe psoriasis can reach about 20% in the future, the entire market size of monoclonal antibodies for psoriasis will exceed RMB40 billion. With the Company's strong sales and promotion ability, assuming that the product takes 12% of the market share in the future, the peak sales could reach about RMB5 billion.d) OthersBy 2023, the Company's products such as Plenity (an innovative weight loss product), Desidustat (indicated for CKD anemia), Methotrexate Pre-filled Syringe/Pen (pre-filled injectables indicated for RA) and Methylene Blue MMX (enhancing lesion detection during colonoscopy) are expected to be approved for marketing, all of which also have a market potential of at least RMB1 billion.Taking Methotrexate Pre-filled Syringe/Pen as an example, it is easy to use, convenient for self-administration at home, and strikes a greater balance of efficacy and safety, excellent tolerability and compliance. With 5 million RA patients in China, the peak sales of this product is estimated to exceed RMB1 billion . Methylene Blue MMX is also a product with promising market potential. It has been clinically proven to improve the detection of all lesions during colonoscopy and is easy to use. If it is included into the routine procedure of full-spectrum colonoscopy in the future, the sales potential of this product is estimated to be at least RMB1 billion as there about 10 million colonoscopy cases in total in China.3. ConclusionTo conclude, CMS's advantages in deployment of innovative products come from two aspects. On the one hand, the Company's strong BD ability built up in its long-term development gives it the confidence and strength to quickly enter the innovative drug field, and at the same time, it does not blindly chase after popular products, but focuses on digging overseas quality innovative products with relatively high market potential and unmet market demand using its differentiated product selection strategy. On the other hand, the resource advantages based on the strong marketing and promotion system empower the Company with rapid clinical advancement ability and strong academic promotion ability, which strongly supports the clinical development and commercialization of innovative products. Based on all these, CMS has made remarkable achievements in its transformation, and it is believed that with the marketing of blockbuster innovative products, the Company's value will be re-recognized by the market and its valuation will usher in a new leap.After CMS released its annual results, several institutions have published research reports that are optimistic about the Company's transformation focusing on innovative drugs and its long-term potential. First Shanghai Financial Group emphasized CMS's unique vision of product selection, strong profitability of BD projects, and high efficiency in clinical development of blockbuster innovative products. It projected that CMS will have six innovative drugs marketed in China in the next three years, and with the Company's strong academic promotion ability and the products' own differentiation advantages, it's believed that once these products are marketed, they're expected to bring considerable contribution to the Company's performance. Industrial Securities mentioned that the Company's Cyclosporine Eye Drops 0.09% and Tildrakizumab are expected to be approved in 2022 and four other innovative products to be approved in 2023. With the successive launch of these innovative products, the Company's product mix is expected to be significantly optimized.In addition, Citi reported that the Company's management is committed to acquiring licenses for five competitive innovative drugs each year, and the nasal spray for epilepsy is also planned to be launched in China this year, which are expected to continuously contribute to its revenue; meanwhile, the Company has several other drugs that are expected to be launched in China in the next few years, based on which Citi raised its earnings forecast for 2021 and 2022 by 39% and 57%, respectively. At the same time, Citi raised its target price of CMS by 134% to HK$26 from HK$11.1, with a "buy" rating.In summary, it is not difficult to find that all these institutions have full recognition of CMS in its presence in the innovative drug field. They have all raised their target prices of the Company based upon the Company's performance and potential. Compared with ordinary investors, professional institutions tend to have a deeper understanding of the industry and the enterprise. These bullish reports have all shown that, despite the fact that the Company's share price has almost doubled in the year, they still have full confidence in the Company's future potential. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

30 3 月, 2021

China Medical System (00867) Ushers in a Revaluation with its Continuous Growth and Synergy between Innovative Business and New Businesses

HONG KONG, Mar 30, 2021 - (ACN Newswire via SEAPRWire.com) - Turnover and net profit increased at the same time, innovative pipeline continued to expand, and the synergy between its businesses became increasingly obvious .....China Medical System Limited (the "Company" or "CMS"), who has just released its annual results, has brought too many surprises to the market.In recent years, CMS has successfully completed its transformation from an "old CMS" driven by sales and promotion to a "new CMS" driven by innovative R&D by deepening its innovative pipeline and promoting the synergistic development of multiple business lines. Now, with its strength in business development and sales promotion, the innovative pipeline and new businesses continued to expand, which has become a powerful driving force to lift the Company's valuation ceiling.According to zhitongcaijing.com app, on March 16, CMS released its 2020 annual results. The financial report shows that the Company's overall performance achieved solid growth in 2020, with annual turnover up 14.4% y-o-y to RMB6.946 billion, net profit up 30.7% y-o-y to RMB2.556 billion.In fact, the Company's ability to grow against the odds in an environment affected by the global public health event in 2020 was made possible by the stable revenue from its existing core products. In addition, the Company has actively participated in innovation and acquired products with differentiation advantage. With the smooth progressing of registration and clinical processes for a number of its high-quality products, and the approaching of the commercial launch of its blockbuster innovative drugs, certainty for its future growth continues to improve. In addition, CMS is also expanding the healthcare business as well as the dermatology and medical aesthetic business, aimed at forming a synergistic development between the old and new business lines to bring new growth engine for the Company and promote the continuous release of intrinsic value in the future.Behind its solid growth, lies the strength of its core products.CMS' overall performance relies on the Company's strong abilities in academic promotion and retail network, and more importantly, on the strength of its core products.According to the annual report, the Company has four core product lines: cardio-cerebrovascular line, digestion line, ophthalmology line and dermatology line. In terms of product sales, the cardio-cerebrovascular line and digestion line, the Company's most important core product lines, continued to maintain growth in 2020, with revenue up by 18.9% and 18.5% respectively. Whilst, in the second half of the year, the ophthalmology and dermatology lines saw extremely strong revenue growth, reversing the slightly downward trend seen in the first half of the year under the impact of the pandemic, achieving revenue increases of 16.3% and 20.3%, respectively.The key reasons for the stable growth of the Company's core product lines are the low impact of policies and the stability of the products' markets.On the policy side, so far, the expansion of "centralized procurement" has no impact on CMS yet. Take Plendil and Deanxit, the Company's heavyweight products in its cardio-cerebrovascular product line, for example, in China, no generic Plendil has passed the consistency evaluation, and there is only one generic Deanxit. According to the current rules of "with three or more generic drugs that have passed consistency evaluation" in the selection of drugs for centralized procurement, it can be seen that national centralized procurement policy will not affect the performance of the Company in the short run.As for the product market, many of CMS' core products are drugs for chronic diseases with strong brand stickiness. Patients often need long-term or lifelong medication with low product replacement rate and low daily treatment cost. So they are not only less affected by public health events, but even if they are included in national centralized procurement in the future, the impact may be lower than the market expectation due to the product's high retail market share and strong patient stickiness.In fact, in addition to promoting the stable growth of its core products, CMS has also made great progress in the field of innovative R&D.Innovative pipeline R&D continues to advance with "fresh blood" continuously injectedAs a pharmaceutical company with international development capabilities, CMS has developed an innovative drug pipeline through its excellent BD capabilities and the integration of international resources, which is another important path to meet the huge unmet medical needs. Today, CMS, which has responded quickly and actively laid out its innovative pipeline, is already reaping the fruits of its innovative R&D.According to the data, CMS has altogether over 20 innovative drugs, all of which are innovative products with high innovation level, good market potential and competitive differentiation advantages. Among them, 9 products have been approved for marketing in the U.S. and/or Europe, and 3 products are in the process of registration clinical trials in China.Take the core product Diazepam Nasal Spray as an example, by the end of 2020, CMS has completed dosing and blood sample collection of all subjects in the comparative PK study, and the product is expected to be launched in China this year.Notably, Diazepam Nasal Spray is also the first out-of-hospital emergency drug approved by the U.S. FDA for acute repetitive seizures in patients with epilepsy 6 years of age and older. If the product is successfully marketed in China, it is speculated that it will become the home remedy for children with epilepsy based on parents' protective mindset towards their children. The market of Diazepam Nasal Spray is very promising after its launch. It is estimated that there are about 6 million active epilepsy patients in China, and about 400,000 new patients each year. Among patients who receive formal treatment, 20-30% still cannot be effectively controlled, and the number of recurrent seizures is frequent, averaging as many as nearly 70 times per year.Assuming that 15% of the 2 million patients who receive formal treatment need Diazepam Nasal Spray to control recurrent and frequent seizures, and an average of 40 seizures attacks per person per year, the annual demand is estimated at 12 million units. Currently, the selling price of Diazepam Nasal Spray is approximately $300 per unit in the U.S., and assuming a selling price of RMB300 per unit in China, the annual sales market potential of the product would be RMB3.6 billion.Recently, the registration bridging Phase III trial in China of Tildrakizumab, a novel monoclonal antibody specifically targeting IL-23, has completed enrollment of all 220 subjects within only 2.5 months (including holidays of the New Year and Chinese Lunar New Year), highlighting another yet-to-be-discovered innovative advantage of CMS's rapid clinical advancement capability based upon its professional sales and promotion network as well as expert resources.In addition to Diazepam Nasal Spray and Tildrakizumab, there are seven other products in the Company's innovative pipeline, including Cyclosporine Eye Drops 0.09%, all of which have been approved for marketing in Europe and/or the U.S., and the Company is now actively promoting the marketing of these products in China.In addition to advancing the research and development of existing innovative pipeline, the Company also realized sustained expansion of innovative pipeline in 2020.According to zhitongcaijing.com app, in January 2020, CMS strategically cooperated with Zydus and acquired the exclusive license of innovative product Desidustat Tablets; in June, the Company made equity investment in Gelesis and acquired innovative product PLENITY; in September, the Company strategically cooperated with medac and acquired innovative products Methotrexate Pre-filled Syringe/Pen and BCG for Intravesical Instillation; in December, the Company acquired innovative product Methylene Blue MMX through strategic cooperation with Cosmo. All of the above products are introduced based on the actual needs of the Chinese market, and the market space of each product is at least RMB one to several billion.In terms of the Company's development plan, in the short term of about 3 years, CMS will have 6-7 blockbuster innovative drugs marketed in China, with a market potential totaling over RMB 20 billion. The Company expects to introduce at least 5 innovative drugs per year on average, and is expected to become one of the Chinese pharmaceutical companies with the most innovative drugs in the long term.High-quality innovative drugs with huge market demand, combined with strong drug commercialization and academic promotion capabilities, will be a big boost to the Company's revenue and profits in the short- to mid-term once these innovative drugs are approved for marketing in China.Deep plowing the healthcare industry to create trending healthcare products through industrial synergy In 2020, with the growing demand for healthcare, driven by policy, Internet technology and the impact of COVID-19, the healthcare industry in China is facing a great window for development, which also brings new development opportunities for CMS.CMS's rich overseas channel resources and good reputation, mature product introduction system, responsive international supply chain system and strong sales promotion network have formed significant industrial synergy with the healthcare segment, supporting the healthcare segment to continuously create "best-selling" products and establish strong market advantages.According to zhitongcaijing.com app, CMS has cooperated with major e-commerce platforms to open cross-border e-commerce "CMS Health Overseas Flagship Stores" to create a one-stop shopping platform for high-quality overseas healthcare products.On November 1 last year, CMS Health Overseas Flagship Stores were launched in JD Worldwide and Youzan Mall; by the end of last year, 18 products from 4 well-known European brands had been launched. It is expected that by the end of 2021, the flagship stores will have more than 300 cooperative products, covering nine core areas.In addition, CMS is continuously injecting new energy into its healthcare business. It is reported that as of press date, its flagship store has nearly 60 products, the surprisingly rapid development of the business clearly shows the extremely strong execution of CMS.Diving deep into the golden track of dermatology and medical aesthetics, CMS continues to strengthen its ability to integrate upstream and downstream industry chainIn addition to the healthcare business, the dermatology and medical aesthetic business is also a key area for CMS to develop vigorously. CMS has been involved in skin treatment and has established certain expert network resources. In order to further enter the medical aesthetic product line and achieve deeper development in skin management and medical aesthetics, on February 1 this year, CMS completed the acquisition of Luqa, a dermatology and medical aesthetics specialty company, to go further into the golden track of medical aesthetics.Luqa's key prescription medicines and medical devices cover Aethoxysklerol, Stratamark/Strataderm, and Zalain, and Aethoxysklerol is one of the leading brands that has long been clinically used for the sclerotherapy of varicose veins; Luqa's medical aesthetic products feature Mesohyal and Mesoeclat from Mesoestetic of Spain, and Neauvia hyaluronic acid series. CMS' acquisition of Luqa is noted by the market because of the strong synergy effect between upstream and downstream industries.From the upstream of the industry chain, Luqa has rich leading European medical aesthetic resources, while CMS has more than 20 years of experience, resources and channels of investment in products in overseas markets, and has a good reputation overseas, especially in Europe, the acquisition to achieve the interchange of resources in the upstream of the industry line, which will undoubtedly promote the integration and fission of resources more effectively and achieve the effect of "1+1>2". With the addition of Luqa, it is expected that more leading skin management and medical aesthetic products will be included, enriching CMS' product lineup and expanding the area of its business.In the downstream part of the industry chain, CMS has rich resources of dermatology experts, who will be able to give advice, build brand and create reputation for dermatology and medical aesthetic products from a professional perspective, while Luqa's sales channels covering a wide range of medical institutions and agency network will complement CMS's advantages and help CMS to form a more comprehensive and in-depth downstream network layout in the future.In terms of the overall medical aesthetic market, China's medical aesthetic industry grew at a CAGR of 22.5% from 2014-2019, which made China one of the fastest growing countries in the world, and is expected to maintain a high growth rate of over 20% in the coming years. In a growing dermatology and medical aesthetic market, there is not yet a leading company in China. The resource synergy between Luqa and CMS will help CMS to have strong competitive advantages in both product and sales. With these advantages, CMS is expected to become the first high-end beauty and health management company in China.However, the market has not yet reasonably valuated CMS, who has strong innovative R&D strength and multi-industry synergy.According to zhitongcaijing.com app, although the valuation of CMS has increased recently due to strong performance, the dynamic PE reflected by the Company's share price is only about 12.34x as of the press date. While the already undervalued pharmaceutical and healthcare stocks in the Hong Kong Stock Exchange are still trading at the PE of nearly 20x, which verified that CMS is obviously undervalued.In fact, there is a certain lag in the market for the valuation of CMS. From the perspective of business development, it is not only the existing drugs that are currently driving the Company's valuation growth, but also the Company's innovative pipeline, healthcare business and dermatology and medical aesthetic business, which are all immune to China's "centralized procurement" and will bring strong performance momentum to the Company in the future, and are also powerful engines to drive the Company's valuation growth.From the perspective of innovative drug development alone, as mentioned earlier, CMS will have 6-7 blockbuster new drugs marketed in China in 1-3 years, with a combined annual market potential of over RMB 20 billion. According to an institution's previous estimation, the target price will raise to HK$19.80 using the PE valuation method, based on a conservative estimate of the value of seven blockbuster innovative products, as well as the value of seven generic drugs and without considering the value of the Company's healthcare business and Luqa's brand value for the time being.zhitongcaijing.com app observed that on March 18, the share price of CMS jumped 15.01% to close at HK$18.24 per share. It can be seen that the market's attitude towards the "new CMS" has started to improve significantly. Taking into account the positive impact of the healthcare and dermatology and medical aesthetic segment, CMS is expected to see further valuation growth in the mid to long term.In the dermatology and medical aesthetic sector, for example, in China's A-share, the average valuation of stocks under the Choice medical aesthetic concept stock has exceeded 140 times. As a scarce quality target in the concept of dermatology and medical aesthetic in the Hong Kong Stock Exchange, after the acquisition of Luqa, CMS has the conditions and advantages for its entry into the medical aesthetic industry through the great synergy in skin management and medical aesthetic field, and the Company's valuation is also expected to rise accordingly.According to zhitongcaijing.com app, Citi has recently released a research report, raising the target price of CMS by 134% to HK$26 from HK$11.1, with a "buy" rating.By: zhitongcaijing.com app Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

18 3 月, 2021

CPS Health Care and Telewellness Present the Rating of COVID Technologies on a Lifetime Award

London, UK / SEAPRWire / March 18, 2021 / Recently Telewellness has announced a new investment partnership, with the goal of efficiently accelerating action against the COVID19 pandemic, through mass adoption of trusted and rated COVID technologies. To make that happen, CPS Health Care and Telewellness UK announced a joint commitment to support an interdisciplinary expert panel, which will rate COVID technologies and reward the best scientists and contributors in this field. Coronavirus has evolved two separate traits that allow it to spread more easily. Firstly, it infects carriers who don’t experience symptoms, who in turn transmit the virus to others. Secondly it mutates, with new strains becoming more dangerous. Vaccines are either less effective or ineffective against some of the new strains. Everybody with the ability to fight against this disease should act now, whilst scientists remain at the front line of the fight. The company is ready to reward the most active influencers and scientists, through the Lifetime Award Program in which an expert community will rate COVID technologies with the help of a public vote. In the interest of humanity, the team must take all steps possible to act against the current threat. They are advocating the pooling of resources by experts and influencers, to drive mass adoption of only the most trusted solutions against the disease. Telewellness UK aims to be a channel for distribution of digital health and other innovative technologies. About Telewellness & CPS Health Care GmbH Telewellness is a united global group of influencers and biomedical professionals and they are facilitating a non-profit award program for trusted and innovative COVID technologies. CPS Health Care GmbH is German company led by a former Ernst &Young partner. Telewellness UK is a digital health-sharing economy platform, created following the Davos forum in 2020. Telewellness has developed an eco-system for sharing its benefits with members of Healthclub. Healthclub provides the most innovative and personalized health-span technologies to its subscribers. Its goal is to fund scientific research, to publish the results to its members and to create a freely distributed AI based shield for health and mental wellness. Lifetime Award goals: To unite scientists and the public in rating the effectiveness of innovative COVID technologies, they have created the first panel of experts, scientists, social media influencers and thought leaders, and tasked them to rate COVID technologies. The top scientific breakthrough for 2020 was the understanding of SARS-CoV-2 and how it affects COVID-19 – and then developing multiple vaccines. Coronavirus separates people, but we should strive to stand united. The most important scientific breakthroughs should be accelerated, and significantly contributing innovators should be rewarded for their efforts For reference Lifetime Award official website: https://www.lifetimeaward.live/ Facebook: https://www.facebook.com/LifetimeTrustnet/ Medium: https://telewellness.medium.com/ Twitter: https://twitter.com/DaysExchange Linkedin: https://www.linkedin.com/company/telewellness-uk/about/ Media contact Company: Telewellness Ltd Contact: Eduard Musinschi Telephone: +447376116343 Website: http://lifetimeaward.live/ SOURCE: Telewellness Ltd The article is provided by a third-party content provider. SEAPRWire ( www.seaprwire.com ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SEAPRWire.com Sectors: Top Story, Daily News SEA PRWire: PR distribution in Southeast Asia (Indonesia, Thailand, Vietnam, Singapore, Malaysia, Philippines & Hong Kong )

3 3 月, 2021

Budget debate: A good time to ramp up industry transformation – and measure its outcome

SINGAPORE - The economic mantra goes like this: innovation is crucial to productivity, and productivity leads to growth. Hence governments around the world are right to channel resources into innovative and growing industries. But picking winners is an imprecise art. Pumping money into promising start-ups, for example, does not guarantee that they will scale up and become viable. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

23 11 月, 2020

Chun Wo Announces Research and Development Results of “Modular Integrated Construction Systems”

HONG KONG, Nov 23, 2020 - (ACN Newswire) - Chun Wo Construction Holdings Company Limited ("Chun Wo") has been actively developing innovative technologies targeting the construction industry so as to enhance construction efficiency and promote the transformation of the industry. To complement the major trend towards innovative development by the construction industry, Chun Wo and The P&T Group ("P&T") have developed an advanced "wall connection technology" that is applicable to Concrete "Modular Integrated Construction" Systems ("Concrete MiC"). This technology and the entire Concrete MiC solution have received "In-principle Acceptance" from the Buildings Department, meaning that they can be applied to building development projects in Hong Kong. The "wall connection technology" of Concrete MiC has also obtained the pertinent patent, making Chun Wo the first Hong Kong construction company to use this method in the design and construction of buildings up to 40 storeys high, hence substantially helping enhance construction efficiency.BIM model of a "5-face module 2-bedroom unit" built with concrete MiC developed by Chun Wo and P&TMiC technology is a state-of-the-art construction method that transfers on-site construction procedures to the factory. Through the concept of "factory assembly followed by on-site installation", free-standing integrated modules (including finishes, fixtures, components and fittings) are pre-fabricated in a factory before on-site installation. In this way, a building is largely completed before its components arrive at the site. Since on-site construction procedures are minimized, limitations resulting from weather, labor resources and location can be avoided. MiC therefore helps increase construction productivity, safety and sustainability and makes the construction process easier to control.Compared with the "MiC" modules that are largely "steel structures" in Hong Kong, the "Concrete MiC" developed by Chun Wo and P&T is more cost-effective. Firstly, the patented "wall connection technology" can reduce the thickness of the wall and enlarge the saleable area of a unit. Concrete modules are durable and easy to meet the fire resistance prescribed. In terms of maintenance, concrete modules do not have to undergo initial inspection for repair and maintenance as quickly as their steel counterpart once a building is completed, and they do not require frequent repairs. Furthermore, concrete modules can be designed in a conventional and flexible manner to suit building layout plans, helping clear the misconception of MiC as being "rigid". Concrete-built flats excel in insulating against sound and heat, hence, Chun Wo believes concrete modules meet general market expectations and demand from the private sector. Though possessing many merits, Concrete MiC modules are not easy to design and construct as they are complex and require meticulous attention to detail. Possessing extensive construction experience and a team of experienced BIM professionals, Chun Wo is capable of providing one-stop solutions covering design to on-site construction, and can successfully apply "Concrete MiC" to different projects. Since P&T has strong engineering design capability as well as mature MiC technologies, it is able to offer strong support to the R&D of "Concrete MiC".Sr Stephen Lee, Chief Executive Officer of Chun Wo Construction Holdings Company Limited, said, "The Company has over the years been committed to developing innovative construction technologies. We are truly encouraged by the successful introduction of 'Concrete MiC' and to become the first construction company in Hong Kong to construct buildings of up to 40 storeys high with this technology. With Chun Wo's construction experience stretching more than 50 years, the Company's professional and mature team, and P&T's professional design solutions, we can capitalize on these advantages to promote the use of this technology in more construction projects. Going forward, we will continue to develop more innovative construction technologies that contribute to the future of Hong Kong's construction industry and which leads to the building of a more pleasant and advanced city."Chun Wo's pioneering technology brand "Inno@ChunWo" has set up an innovative technology exhibition center "Chun Wo InnoBase" in Yuen Long, which is expected to open at the beginning of next year. The center will display show flats that adopt the two MiC methods, namely "concrete" and "steel structure". More innovative construction technologies will be presented to the industry and public via the center in the future. Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com