Sinopharm Ranked 32nd by Comprehensive Strength in “Top 100 Hong Kong Listed Companies”
27 May 2019
(May 27, 2019 – Hong Kong) Sinopharm Group Co. Ltd. (Stock Code: 1099.HK, "Sinopharm" or the "Company"), the biggest wholesaler and retailer of pharmaceutical and healthcare products, as well as a leading supply chain service vendor in China, is pleased to announce that, on the Guangdong-Hong Kong-Macao Greater Bay Area FinTech Development Summit cum 7th "Top
100 Hong Kong Listed Companies" Ceremony, Sinopharm was ranked 32nd in terms of comprehensive strength on the list of "Top 100 Hong Kong Listed Companies" this year. The company won such award for the second year in a row.
The "Top 100 Hong Kong Listed Companies" is organized by Top 100 Hong Kong Listed Companies Research Centre along with Finet Group Limited, CNR News, China Daily, i-CABLE Finance Info Channel and People's Daily (HK). The evaluation has been organized for seven consecutive years since its launch in 2012. Upholding the principles of professionalism, objectivity, fairness and accuracy, it selects Hong Kong listed companies with good development prospects and investment values and offers an authoritative and credible list of Hong Kong listed companies.
Due to influence of policies, the growth of pharmaceutical distribution industry dropped slightly on a year-on-year basis, but still continued to exceed the macroeconomic growth. The industry competition has become more intense, the pharmaceutical distribution and retail enterprises have accelerated the pace of merger, acquisition and expansion, the pace of industry consolidation has accelerated, highlighting the importance of scale advantage. Policies such as "two-invoice system" and centralized drug procurement have brought challenges to the industry, but the impact will be short term and manageable, in the long run they will contribute to facilitate the acceleration of the survival of the fittest and the consolidation of the industry. The concentration ratio of the industry is bound to increase in the future, enabling large-scale enterprises with scale advantage and superior control and management like Sinopharm to get better development.
Sinopharm has the largest pharmaceutical retail scale within the industry. In the past year, the Company not only achieved outstanding performance on business development, it also optimized pharmaceutical distribution, retail and medical device segments. The Company commented, "It is indeed a great honour for us to be ranked 32nd in terms of comprehensive strength on the list of 'Top 100 Hong Kong Listed Companies'. It is definitely a solid recognition by investors. Motivated by this award, Sinopharm will continue to conform to the 'new normal' of the development of the pharmaceutical healthcare industry, seize the opportunities brought by supply-side structural reforms, further stimulate corporate vitality and creativity, and continue to promote the high-quality development of the Group under the guidance of the new strategy."
Sinopharm ranked 32nd in terms of comprehensive strength on the list of “Top 100 Hong Kong Listed Companies”