Hansen Pharmaceutical(SZ:002412)2022-12-07 09:38Group 1: Company Overview and Strategic Direction - The company is focusing on the cultivation of traditional Chinese medicinal materials, primarily Zhiqiao, to meet raw material demands and respond to government policies [4] - The company aims to establish "Xiang Jiuwai" as a leading brand in the market [4] - Future plans include collaborating with influential hospitals in surrounding cities for health check-ups and rehabilitation services [4] Group 2: Market Challenges and Sales Performance - The sales of Si Mo Tang have not met expectations due to several factors, including a challenging OTC environment, media events affecting consumer perception, and the suspension of basic medicine inclusion in various provinces [6] - In 2014, approximately 70% of Si Mo Tang's revenue came from OTC sales, which has been significantly impacted [6] - Sales in Hunan have remained flat this year, with some progress in market expansion in Xiangnan and Xiangxi regions [6] Group 3: Investment and Financial Planning - The company is gradually advancing its investment in the health industry, with a focus on feasibility studies for medical services [5] - The investment amount for new projects will be determined based on the company's capacity [5] - The company has previously published a feasibility study report on the cultivation of medicinal materials [5] Group 4: Acquisition and Market Positioning - The company continues to prioritize acquisitions as a key strategy, given the lengthy and costly process of developing new traditional Chinese medicines [8] - The integration of Yongzitang's sales has faced challenges, but improvements are being made as stakeholders understand the long-term benefits [7] - Yongzitang's sales were projected to reach 200 million, but this target was not met due to price adjustments and the overall OTC environment [7] Group 5: Regulatory and Compliance Issues - Yongzitang's products have been included in the medical insurance directory in thirteen provinces, with hopes for national coverage [8] - The company is actively working on pricing adjustments and tendering processes to align with market standards [8] - The future handling of the major shareholder's asset, Nanyue Pharmaceutical, remains uncertain as it is undergoing GMP certification [8]