The founder of China Biopharmaceuticals has stepped down.

The Board also announced that Li Yi has been appointed As An Executive Director and Ceo of the Company.
, China Biopharmaceutical Co., Ltd. is headquartered in Hong Kong and is a comprehensive and group pharmaceutical company.
founder Xie Wei is one of the descendants of the Xie family, the famous richest family in Thailand, and in 1997, the establishment of Zhengda Tianqing Pharmaceuticals in Jiangsu Province kicked off the company's development.
2003, the company was listed on the main board of the Hong Kong Stock Exchange.
more than a decade of development, the company's market value in 2017 exceeded 100 billion.
China Biopharmaceuticals is an important layout of Zhengda Group's pharmaceutical business in the Chinese market, and its subsidiary Zhengda Tianqing is also a domestic head pharmaceutical company.
, Xie is also a senior vice chairman of Zhengda Group, chairman of Zhengda Pharmaceutical Group, chairman of the Managing Board of Taihua International Bank, and vice chairman of Futai Co., Ltd. of Hong Kong.
fact, the company has already completed the transition of wealth and power to the next generation.
In 2015, Xie Qirun, Xie's daughter, took over the baton from her father and became chairman of the board of directors of China Biopharmaceuticals, while Xie Chengrun, son of Xie Wei, became executive director of China Biopharmaceuticals and managing director of Zhengda Pharmaceutical Group.
this time, Mr Xie resigned as chief executive of China Biopharmaceuticals, delecation of the 100bn-value group to professional managers, and the company may face a new round of development changes in the future.
Li Yi, the 59-year-old new CEO of China Biopharmaceuticals, joined J.P. Morgan in October 2014 as chairman and chief executive of China and served as chairman of J.P. Morgan's China management committee, managing the group's entire operations in China, according to his resume.
Li Yi is committed to building a strong, all-round professional management team, from the long-term strategic level to support the overall healthy development of JPMorgan's business in China.
In April 2015, Li Yi was appointed Chairman of J.P. Morgan Bank (China) Limited and in May 2018 was promoted to Vice Chairman of J.P. Morgan Global Bank, where he was committed to enhancing the internationalization of China's capital markets and the participation of Chinese companies in international capital markets.
challenged by the market, Wind recently released the 2020 half-year "China's listed companies market capitalization of 500" list.
as of June 30, 2020, seven companies had a market capitalisation of more than 1 trillion yuan, down one from the end of the first quarter.
China Biopharmaceuticals ranked 92nd, with a market capitalization of 162.8 billion yuan.
It is understood that China Biopharmaceuticals has a comprehensive product line and general department sales capacity, the main products belong to liver disease, anti-tumor, cardiovascular, analgesic, orthopaedic, respiratory system, digestive system, anti-infection, extraintestinal nutrition, endocrine and other fields.
the company has five sold more than 1 billion varieties, namely Runzum (Entikave) dispersion tablets, Kaiser (fluorobilofen) injection, Tianqing Gamite (magnesium licorice) injection, Foccovi (hydrochloric acid atrotinini) capsules, Hedway (osteosterol) capsules.
China Biopharmaceuticals' 2019 annual report showed Q4's results were under pressure and its full-year results were slightly below expectations.
China Biopharmaceuticals achieved revenue of 24.23 billion yuan (-16.0%) in 2019, Q4's quarterly revenue of 4.91 billion yuan (-4.8%), home-made net profit of 2.71 billion yuan (-70.1%), in addition, the rapid growth of the anti-tumor line, inhalation products ushered in the harvest.
it is learned that the income of anti-tumor products is 5.43 billion yuan ( .70.3%), accounting for 22.4% of revenue, the heavy-weight varieties of Arodini estimated to contribute more than 2.8 billion yuan in revenue, has been approved 3 adaptations, with more adaptations approved, Anrotini is still expected to grow rapidly, and become the company's anti-tumor pipeline of the heaviest varieties.
impact on the domestic head of enterprises, the impact of national collection is its future challenges, the annual report shows that the impact of national centralized procurement in 2019/2020 concentrated.
's large varieties, Entecawe, Ebersatan/Hydrochloroquine, Rishuvastatin, fluorobilofen esters, etc., have significantly reduced prices in the 4-plus-7 collection and subsequent alliance collections, and are expected to continue to be negatively affected by the price reduction in 2020.
, for example, after winning the bid in the 4-7, although Entikawe's total sales have increased significantly, the sharp drop in prices has led to a decline in sales, with the share of sales falling to less than 20%.
But there are also research institutions believe that China's biopharmaceutical follow-up varieties are the company's sales are small, or just listed varieties, the company's identity from "shoes" to "barefoot", good for the rapid release of these varieties.
August 20, the third batch of national collection in Shanghai, China Biopharmaceutical 9 varieties are eligible for declaration, of which Apixaban, Tigrello, Tofadib 3 varieties of Chinese biopharmaceutical subsidiary Zhengda Tianqing and Nanjing Zhengda Tianqing are eligible to participate in the bidding.
results show that China Biopharmaceutical 9 in 7, the response to the national mining is relatively large, the decline is relatively obvious.
with the normalization of the collection, how the company will cope with the decline in sales brought about by the collection in the future, how to obtain a broader market outside the collection, will be the new CEO needs to consider the issue.
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