Saisheng pharmaceutical's 2017 annual report: steady financial performance, high delivery topics worthy of attention

[China Pharmaceutical network enterprise news] 1 Basic financial data and distribution plan the company achieved a total operating revenue of 749986848.13 yuan in 2017, an increase of 21.70% over the same period of last year; a total profit of 331386637.47 yuan, an increase of 10.39% over the same period of last year; a net profit of 281604133.53 yuan belonging to shareholders of listed companies, an increase of 8.98% over the same period of last year RMB 2.4 will be distributed from 10 shares to 10 shares in the distribution plan 2 Analysis of annual and quarterly net profit from the trend chart of net profit in the past five years, the company's performance is generally stable and stable, but the company's performance growth rate is relatively slow, the lack of new products and a large profit base are the main factors that the performance cannot grow rapidly From the perspective of seasonality, compared with the quarters of 2016, the quarters of 2017 and the second quarter are in recession, and the growth starts again from the third quarter The performance turns around obviously, and the growth momentum is maintained in the fourth quarter The performance change in the future quarterly report still needs close attention 3 The comprehensive gross margin of the main business analysis company in 2017 was 76.54%, an increase of 9.53 percentage points The comprehensive gross margin is expected to remain stable in 2018 and will not increase as it did in 2017 In terms of product line, they are all in the big market of serious diseases, and there is no obvious change As a generic pharmaceutical enterprise, the development of saisheng pharmaceutical industry is relatively stable, and the financial control of the management is very strong However, when the era of innovative drugs comes, its R & D capacity is not outstanding In addition, the volume is large, and it is expected that the sustained growth rate will not be too fast Based on this, the company's value return is relatively thorough, and the P / E ratio is easy to reach a relatively low level, so it is also easy to There are often good band opportunities Once some performance exceeds expectations, the volatility may also be relatively fast.