Sales of major varieties drop.Jingfeng Pharmaceutical expects to lose more than 600 million in 2019.
Beijing News (Reporter Liu Xu) On January 16, Jingfeng Pharmaceutical issued an announcement on the revision of the 2019 annual performance forecast. It is expected to lose 650 million to 850 million yuan in 2019, a year-on-year decrease of 447.94% -555%.
Jingfeng Pharmaceutical disclosed on October 30, 2019 that it is expected to lose 200 million to 300 million yuan in 2019, a decrease of 207.06% to 260.59% from the same period last year. Regarding the reasons for the performance revision, Jingfeng Pharmaceutical said that in the fourth quarter of 2019, many unforeseen, inadequate and unsatisfactory expectations occurred, which will have a significant impact on the company’s operating performance for the full year of 2019.
Jingfeng Pharmaceutical pointed out that in 2019, the national regulatory policy and medical insurance policy will tighten the pharmaceutical industry, the sales performance will be sluggish, and the marketing expenses will remain high. As a result, the sales revenue of some subsidiaries of the company has fallen sharply, and the performance has fallen, and it is in line with expectations The degree of deviation is large. According to preliminary estimates, in 2019, Jingfeng Pharmaceutical intends to make provision for impairment of goodwill formed by business combination of 200 million to 350 million yuan.
In addition, as of September 30, 2019, Jingfeng Pharmaceutical has accumulated a total of 685 million yuan of new borrowings, which accounted for 23.94% of the net assets at the end of 2018, with a loan balance of 2.497 billion yuan.
The sales revenue of the two main varieties of Jingfeng Medicine has dropped significantly, which has also had a significant impact on the overall operating performance. Among them, Shenyang Glucose Injection failed to enter the new version of the National Medical Insurance Catalogue in August 2019. The sales revenue in the fourth quarter of 2019 decreased by more than 90% compared with the same period in 2018; the elemene milky injection in the new version of the National Medical Insurance in 2019 The payment scope of the catalog is limited to “intrapleural or intraperitoneal injection treatment of cancer-limited pleural and ascites”, which narrows the scope of the product in clinical use. Sales revenue in the fourth quarter of 2019 decreased by more than 60 compared with the same period in 2018 %.
Editing Yue Qingxiu Proofreading Wu Xingfa