Sino BioPharmaceutical Revenue up 25% in FY2014
In its latest financial results, Sino BioPharmaceutical reported HK$12.37 billion in total product sales during the 2014 financial year, representing an increase of 25% on an annual basis. Specifically, sales of hepatitis drugs, which accounted for some 46% of product sales revenue last year, were up 18.7%. Meanwhile, oncology drugs, which accounted for 9% of sales, were up 35.9%
Contract Sales up 23% for Shanghai Shimao in FY2014
Property developer Shanghai Shimao saw contract sales rise 23% to 16 billion yuan in FY2014, according to company financial results. Meanwhile, total revenue rose 25% to 12.7 billion yuan. Looking ahead, the company has set a sales target of 17.6 billion yuan for FY2015, implying a goal of 10% growth.
Anhui Conch Misses on Volume Target
Cement maker Anhui Conch reported annual sales of 249 million tons in 2014, missing an initial goal of 256 million tons. The company, a bellwether for China's construction industry, is targeting 279 million tons in total shipments for 2015. Meanwhile, with 9 billion yuan in capital expenditures slated for this year, the company's clinker capacity is expected to increase 5% to 224 million tons, while cement capacity rises 8% to 285 million tons.
Earnings Contract for Yongda Automobiles
China Yongda Automobiles Services, one of the country's largest auto dealers by revenue, saw net profits drop 15% to 501 million yuan in 2014. The decline was driven by a 27% increase in sales costs as well as a thinned margin from premium and ultra-premium car sales: down 0.9 percentage points to 3.6%. Nevertheless, the dealer chain's sales in volume terms rose 27% to 103,602 vehicles last year, including 60,237 sales of premium and ultra-premium brand vehicles (up 42%). Overall revenue from auto sales also rose 25% to 29 million yuan.
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