Longjin Pharmaceutical(SZ:002750)2022-12-06 09:54Group 1: Company Overview - Kunming Longjin Pharmaceutical Co., Ltd. has a current market presence with its injectable product, Danzhanhua Su, covering approximately 4,600 hospitals nationwide, representing a coverage rate of over 15% to 20% [1] - The company is currently engaged in the research of oral formulations of Danzhanhua Su, having studied the product for several years [1] Group 2: Market and Sales Strategy - The company is responding to the "two-invoice system" trial in some provinces, which may impact its sales strategy, currently operating on a bottom-price sales model [1] - The sales of Danzhanhua Su are significantly influenced by the drug procurement and bidding processes across various provinces, with ongoing bidding in some areas affecting distributor sentiment [2] Group 3: Competitors and Industry Landscape - There are two main manufacturers of injectable Danzhanhua Su: Kunming Longjin and Hunan Hengsheng, with multiple manufacturers producing various forms of Danzhanhua products, including powder injections and tablets [2] Group 4: Future Growth and Research Directions - The company anticipates higher investment returns from the sale of its subsidiary's equity in the third quarter, while the subsidiary, Zhongke Longjin, is still in the preparatory phase and not yet contributing to revenue [2] - Longjin Pharmaceutical is committed to modernizing traditional Chinese medicine, focusing on the high purity and efficacy of injectable Danzhanhua Su, while also planning to develop oral formulations as technology advances [2][3]