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Tianjin Zhong Xin posts net profit of 567.8m yuan for FY2018

TIANJIN Zhong Xin Pharmaceutical Group has posted a net profit of 567.8 million yuan (S$114.7 million) for FY2018, up 20 per cent from 473.3 million yuan a year ago, lifted by interest income and gains from associated companies Sino-American Tianjin Smithkline & French Lab and Tianjin Hong Ren Tang Pharmaceutical Co.

Revenue for the full year stood at 6.4 billion yuan, up 12 per cent from 5.7 billion yuan previously, on the back of newly introduced products such as Qingyan Pills, Huoxiang Zhengqi Capsule and Tezacef.

Earnings per share for FY2018 was 0.73 yuan, an increase from 0.62 yuan a year ago.

A proposed dividend of 2.2 yuan for every 10 shares was declared by the company, compared to 2.0 yuan for every 10 shares in FY2017.

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The company noted that challenges in the external environment exerted downward pressure on China's economy and triggered changes in the financial market. Under policy reforms in the pharmaceutical industry, it underwent reforms with improving quality and efficiencyas the goal, it added.

In its outlook for 2019, the company said that it will focus on marketing, innovation, as well as management and control. Some areas it is hoping to focus on include accelerating the construction of research institutes and building mechanisms to ensure product safety and operational stability.

It added that it will continue to improve on quality and efficiency through innovative use of its resources.