JIANMIN GROUP(SH:600976)2024-01-30 07:38Group 1: Company Performance - The company maintained stable growth in 2023 despite challenges such as rising prices of traditional Chinese medicine materials [1] - Sales of the "Longmu" product line remained stable, while "Bian Tong" capsules experienced rapid growth due to a smaller base [1][2] - Hospital line products showed overall growth, with good sales performance for "Jian Pi Sheng Xue Pian," "Qi Rui Wei Shu Jiao Nang," and "Ba Du Sheng Ji San" [1] Group 2: Future Plans - In 2024, the company will focus on dual-brand development for "Longmu" and "Jianmin," positioning "Longmu" as a brand for children's health and "Jianmin" as a family medicine brand [1] - The company plans to enhance its product matrix and strengthen team management and fine-tuning [1] - The company aims to launch exclusive and semi-exclusive products into the OTC channel to enrich its product offerings [2] Group 3: Product Sales and Development - The sales of "Longmu" in the 30-bag specification are stable, with growth slower than the 60-bag specification due to different sales channels [2] - "Bian Tong" capsules, a proprietary product, achieved approximately 100 million in sales in the OTC channel in 2023, with stable sales in hospital channels [2] - The company has 27 new drugs in the research pipeline, laying a solid foundation for future prescription line products [2][3] Group 4: Sales Team and Market Strategy - The OTC product line is managed by a self-operated team of over 1,000 people, with plans to enhance team training and management capabilities [3] - The company is exploring a mixed model for hospital line products, with some transitioning to an agency model [3] Group 5: Traditional Chinese Medicine Clinics - The company has established three TCM clinics, with the Hanyang clinic achieving a net profit growth of 130% in 2022 [3] - The second clinic, Hankou, has started operations and is already profitable, while a third clinic in Wuchang is set to open soon [3] Group 6: Equity Incentive Plans - The company has implemented two phases of equity incentive plans, with the first phase granting 1,062,401 shares, of which 849,918 shares have been unlocked [4] - The second phase involved 369,600 shares granted to six individuals, with 184,800 shares unlocked [4]