Realcan(SZ:002589)2022-12-04 10:16Group 1: Company Goals and Strategy - The company's plan for 2018 is to complete the layout in prefecture-level cities and achieve a sales growth target of 25-30% across various business lines and provincial platforms [3][4] - The company aims to enter the top 10 in the industry rankings by 2017 and surpass more competitors in 2018 [3] - The focus for 2018 is on internal integration and refined management following acquisitions made from 2015 to 2018 [3] Group 2: Acquisition and Management - The company considers two main aspects during acquisitions: providing good returns to shareholders and ensuring the acquired companies continue to operate effectively post-acquisition [4] - Acquisitions are structured to maintain control with a minimum of 49% equity for minority shareholders, allowing for continued dividends once capital requirements are met [4] - The company has a high goodwill value, but the risk of impairment is low due to the consistent performance of acquired companies [4] Group 3: Market Trends and Impacts - The entry of China Merchants Group's fund as a significant shareholder is expected to enhance collaboration in logistics and pharmaceutical distribution [5] - The trend of decreasing medical device prices is not anticipated to significantly impact sales and profits in the short term, as the company is positioned to benefit from industry consolidation [5][6] - The company is enhancing its bargaining power upstream, which is expected to mitigate long-term negative impacts on profitability [6]