DAWNRAYS PHARMACEUTICAL (HOLDINGS) LIMITED 
By Dawnrays Pharmaceutical (Holdings) Limited
| FOR IMMEDIATE RELEASE | PRESS RELEASE |
| Attn: Business Editor |
Announced Interim Results For The Six Months Ended 30 June 2011
Net profit after tax jumped 2.9% to RMB 90.06 million
An interim dividend of HK$ 0.02 per share was declared
(Hong Kong, 22 August 2011) Dawnrays Pharmaceutical (Holdings) Limited ("Dawnrays Pharma" or the "Group", The Stock Exchange of Hong Kong Stock Code: 2348) announced interim results for the six months ended 30 June 2011. Turnover amounted to approximately RMB 601,572,000 (2010 interim: RMB 626,357,000), representing a decrease of 4.0% compared with the corresponding period of last year. Profit attributable to owners of the parent amounted to approximately RMB 90,056,000 (2010 interim: RMB 87,500,000), representing an increase of 2.9% when compared to that of last year. Basic earnings per share was approximately RMB 0.1129 (2010 interim: RMB 0.1106). The Board has resolved to declare an interim dividend of HK$ 0.02 per share for the year ending 31 December 2011 (2011: HK$ 0.02).
Ms. Li Kei Ling, Chairman of Dawnrays Pharma, said, "The year of 2011 is an important year for the healthcare reform in China. Since implementing the healthcare reform, the central and local governments have been establishing universal healthcare system and implementing related policies and measures, of which the policies and measures of the government in the first half of 2011 causing market turbulence exerted pressure on pharmaceutical firms in China. The Group adhered to its conservative operational strategies so that we can flexibly adapt to market changes, make adjustment on our strategies and maintain the overall profit growth of the Group. We expect that subsequent to the turbulence caused by policies and measures of the government, the market will resume normal state. Afterwards, the operational environment of the industry will become relatively stable."
Giving a review, the Group has been restructuring its product mix since 2004. After years of dedication, its "An" series, a product line for treating cardiovascular hypertension diseases ("Anneizhen"(Amlodipine Besylate Tablets), "Anneixi"(Losartan Potassium and Hydrochlorothiazide Tablets), "Anneiqiang"(Telmisartan Tablets)), has established brand recognition and won loyalty from customers. Sales of medicine for treating hepatitis B ("Leiyide"(Entecavir Dispersible Tablets)) and anti-allergy products ("Xikewei"(Cetirizine Hydrochloride Tablets)) showed year-on-year growth. The overall performance in the first half of 2011, with respect to sales, the specific medicine products continue to maintain its strong sales momentum. However, the tendering practice in Anhui being implemented in different regions across the country as well as the introduction of "2011 rectification program for national clinical application of antibacterial medicine" by the Ministry of Health has posed certain impact on the sales of te Group's cephalosporin powder for injection. Moreover, arbitrary investments and massive production had resulted in an oversupply of the upstream raw material "7-ACA" in the market and substantial reduction in its price during the first half of the year, and the consequential fall in the selling price of the Group's cephalosporin bulk medicine. Therefore, sales of intermediates and bulk medicine decreased by approximately 14.6% compared to the same period last year.
On the research and development front, during the first half of 2011, two products were approved for launch, namely Cefprozil Tablets and Levamlodipine Besylate Tablets. Currently the Group has a total of 14 new products being applied for research and development, of which 11 pending approval for production and the remaining 3 under clinical trials. Besides, pre-clinical studies are being conducted for 4 other products.
Looking ahead, the Group will step up its efforts in the production and sales of Cephalosporin products in oral form. As regards specific medicines, it will strive to capture a larger market share for its "An" series products. Eyeing the overseas markets, global distribution of "Leiyide"(Entecavir Dispersible Tablets)), a specific medicines for treating hepatitis, is being planned in an orderly fashion. The Group will also speed up the construction process of its production facilities for specific medicines so as to relieve the overload on its production as early as possible.
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