HPGC(SH:600664)2024-05-15 10:31Group 1: Company Overview and Activities - Harbin Pharmaceutical Group Co., Ltd. held an earnings briefing on May 15, 2024, via an online platform [2] - Key personnel present included the President, independent directors, and vice presidents [3] Group 2: Financial Performance and Profit Distribution - The company reported a negative net profit of -2,217,762,498.51 CNY for 2023, leading to no profit distribution for the year [9] - The subsidiary, Sanjing Pharmaceutical, increased its net assets from 2 billion CNY to 4.4 billion CNY, yet did not distribute profits to the parent company [9] - Future plans include a 30% profit distribution from subsidiaries to the parent company once financial conditions improve [9] Group 3: Asset Management and Development Plans - The company is considering the redevelopment of the Harbin Pharmaceutical Factory site into a cultural tourism project, including a museum and various business ventures [6] - The company is also exploring the disposal of idle assets to enhance its image and support urban development [6] Group 4: Market Strategy and Product Development - The company has over 40 projects in development across various sectors, including OTC and generic drugs, to meet market demands [10] - Plans to enhance the health product business include a focus on online and cross-border sales, aiming to strengthen market presence [11] Group 5: Challenges and Future Outlook - The company has faced challenges with cash flow in subsidiaries, impacting the parent company's profit distribution capabilities [9] - The management is committed to improving operational efficiency and financial health to enable future profit distributions [10]