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On October 27th Yuheng Pharmaceuticals announced that it had achieved operating income of RMB1.99 billion in the first three quarters, down 4.9% YoY, and net profit of RMB290 million, down 49.6% YoY. At the same time, Yuheng Pharmaceuticals expects the company's net profit for the January-December 2017 period to be RMB287 million to RMB430 million, a year-on-year change of -60% to -40%.
Said that the decline in the company's performance is mainly affected by the two-vote policy, the company gradually adjust the existing sales channels, reduce the channel product inventory, product shipments decreased. In addition, the company's net profit fell sharply as government subsidies received declined from a year earlier, sales of some products were affected by the adjustment of the national health insurance catalogue, and investment in research and development of biological drugs continued to increase.
fact, this is not the first time that the company's performance has fallen. Financial results show that due to the above factors, Yuheng Pharmaceuticals achieved operating income of RMB1,265 million in the first half of this year, a decrease of 6.73 percent over the previous year, and a net profit of RMB219 million, a decrease of 38.09 percent over the previous year.
the end of 2015, Yuheng Pharmaceuticals launched a "proposal on the company's non-public issuance of A-shares" to raise 4 billion yuan. According to the adjusted plan, the total amount of funds to be raised does not exceed 2.9 billion yuan, of which 2.193 billion yuan is intended to be used to supplement working capital, accounting for 75.63 percent of the total amount of funds to be raised, from which it may also be possible to see the urgency of The Pharmaceutical Industry to reduce the level of corporate debt and replenish liquidity through fixed financing. (Beijing Business Daily)