Magic Pharma announces chairman's resignation

Magic Pharmaceuticals, the chairman of the resignationOctober 31, Magic Pharmaceuticals announced that it recently received the resignation of the company's chairman Zhang Taotao, who due to job adjustment reasons, applied to resign as chairman of the company, director and chairman of the board of directors of the strategic committeeit is understood that his resignation application will take effect after the board of directors of Magic Pharmaceuticals elected a new chairman and a new director in a by-election at the Magic Pharmaceuticals shareholders' meetingannouncement also mentioned that Magic Pharmaceuticals held the 15th meeting of the 9th Board of Directors on October 30 to consider and pass the "Motion on the Election of the Chairman of the 9th Board of Directors of the Company" and "On the Adjustment of the Composition of the Strategic Committee of the Board of Directors."the Board of Directors elected Zhang Zhiting as chairman of the 9th Board of Directors of the Company and Chairman of the Strategic Committee of the 9th Board of Directors of the Company for a term of office from the date of the review and adoption of the board of directors to the date of the expiration of the 9th Board of Directorsaccording to Cypress Blue query, magic pharmaceutical official website in the chairman's style column is still the original chairman Zhang Taotaoaccording to the, Zhang Taotao graduated from Beijing University of Traditional Chinese Medicine, has served as executive director of Guiyang Magic Hotel Co., Ltd., executive assistant of the chairman of Guizhou Magic Group Holdings Co., Ltd., executive assistant of vice president and chairman of Guizhou Magic Group Holdings Co., Ltd., president of Guizhou Magic Group Holdings Co., Ltd., vice chairman of Shanghai Yongsheng Investment Management Co., Ltd., president of Guizhou Magic Investment Co., Ltd., vice chairman of Shanghai Magic Pharmaceutical Investment Management Co., Ltd., president of Guizhou Magic Investment Co., Ltdaccording to the announcement,, the new chairman Zhang Zhiting is a senior economist, served as the 11th member of the CPPCC National Committee, in the last 5 years has served as chairman of Guizhou Magic Investment Co., Ltd., Guizhou Megis Investment Management Co., Ltdexecutive director, Guizhou Magic Hotel Management Co., Ltdchairman, Guiyang Hongtu Real Estate Development Co., Ltdexecutive director, Guiyang Medical College of Magic National Pharmaceutical Institute, Guiyang Magic Pharmaceutical Research Institute, Guizhou Magic Pharmaceutical Co., Ltdchairman, Chairman of Guizhou Magic Pharmaceutical Investment Co., Ltd, theof Chinese traditional medicine and chemical pharmaceutical enterprisespublic information shows that the main business of Magic Pharmaceuticals for the research and development of traditional Chinese medicine, chemical drugs, production and sales Products related to anti-tumor, cold cough, cardiovascular, rheumatism, antifungal, anti-biomycology and gynecology and other therapeutic areas main products include sodium spotite vitamin B6 injection, sodium spotite injection, anti-cough particles, strong dew, anti-cough capsules, golden bone-through capsules, coral purification, fine utia capsules, all-day hemp capsules, yindan heart Thai drop pills and so on according to the according to its official website, Magic Pharmaceuticals has "tablets, capsules, aerosols, membranes, granules, syrups, antidotes, needles" and other dosage forms of production line 42, with 145 drug approval number According to Cypress Blue's 2019 semi-annual report, Magic Pharma's operating income increased by 53.9871 million yuan, or 6.30%, yoy, while net profit net income attributable to shareholders of listed companies for the reporting period, net profit net income from non-recurring gains and losses increased by 83.989 million yuan, an increase of 15.75 percent, due to the increase in sales revenue in the reporting period according to the data disclosed in the , during the reporting period, the proportion of magic pharmaceutical manufacturing revenue to operating income was 67.03 percent, while the proportion of pharmaceutical business income to operating income was 32.97 percent on its official website, Magic Pharmaceuticals says it has a combination of product quality, product planning and product structure to ensure sustainable growth in its profitability however, because of its both traditional Chinese medicine and chemical products, in the 2019 semi-annual report, Magic Pharmaceuticals mentioned that due to the different degree of impact of medical reform policies and market environment changes, the growth of various sub-sectors of pharmaceutical manufacturing showed structural characteristics - medical services, biological products and chemicals, Chinese medicine sub-industry revenue growth, profit growth differences pharmaceutical industry by the health insurance control fees, drug bidding and two-vote system and other regulatory policies continue to deepen the impact of the enterprise's product prices, distribution channels, The level of Chinese medicine, medical insurance control fees refined into Chinese medicine injection restrictions, auxiliary drug monitoring, further pressure industry, and thus affect the profitability of enterprises, the growth rate of the Chinese medicine industry has slowed down compared with previous years on the official website, Magic Pharmaceuticals, with the power of the capital market, through investment, cooperation, mergers, acquisitions, restructuring and other ways, is committed to developing into a leading domestic pharmaceutical industry , however, in its 2019 half-yearly report, Magic Pharmaceuticals also pointed out the various risks it faces, such as policy risks such as 4 plus 7 band purchases, supplementary drug catalogs, drug research and development is not up to expectations, the risk of leading product structure single, the risk of falling prices of products not winning bid, environmental policy risks, raw materials monopoly, rising costs the departure of pharmaceutical executives from time to time in the newspapers, perhaps because of more and more enterprise development risks and various uncontrollable factors, pharmaceutical companies at the helm of the change is becoming more and more frequent original title: Just! Well-known pharmaceutical companies announced: Chairman resigns