CCHT(SZ:000661)2022-12-08 08:31Management and Leadership - Chairman Yang Zhanzhong's retirement has been postponed for five years to maintain management stability during a critical transformation period [3] - The management team is expected to remain largely unchanged after the upcoming board restructuring [3] Business Strategy - The company will continue to focus on the biopharmaceutical industry, increasing financial and operational investments in related sectors [4] - The management model will emphasize investment holding and enhanced hierarchical management capabilities [4] - The company does not plan to divest from the real estate sector but will implement risk control measures regarding investment proportions [4] Financial Performance - Jin Sai Pharmaceutical has shown slight growth in various indicators compared to the previous year, although growth rates have slowed compared to earlier years [5] - The impact of the "Changsha incident" on new patient enrollment rates is expected to affect sales in the fourth quarter [5] - The real estate sector is projected to see an increase in settlement income compared to the previous year, despite fluctuations in quarterly income due to having only one development project [11] Product Development - The long-acting growth hormone injection requires approximately three years to complete Phase IV clinical trials [6] - The company anticipates receiving GMP certification for the follicle-stimulating hormone product in the second quarter of next year, with market launch expected in the third quarter [7] - The rabies vaccine production is undergoing cautious production adjustments, with a long production cycle of at least nine months before market availability [9] Market and Sales Strategy - Jin Sai's sales strategy focuses on hospitals and cooperative clinics, with an emphasis on collaboration with small and medium-sized hospitals [10] - The company has registered its long-acting growth hormone in about six small countries, with plans to expand further [10] - The pricing of long-acting growth hormone is influenced by various factors, including patient age and weight, making it difficult to standardize annual costs [9] Regulatory and Compliance - The company is cautious regarding the production of vaccines and is addressing any adverse reactions from previous incidents [9] - The impact of the VAT policy adjustment on profits is expected to be positive, effective from July 1, 2014 [15] Future Outlook - The company expresses confidence in its future development, attributing this to teamwork and shareholder support, although stock price predictions remain uncertain due to multiple influencing factors [18] - The management is open to various acquisition models, emphasizing the importance of enhancing integration capabilities before proceeding [12]