SHIJIAZHUANG, China, Feb. 27, 2021 /PRNewswire/ -- Yiling Pharmaceutical's business income in 2020 hits 8.736 billion yuan (USD 1.35 billion) with an increase of 49.97% YoY, and the net profit reaches 1.220 billion yuan (USD 189 million), 101.12% YoY growth, according to the Annual Performance Bulletin 2020 of Yiling Pharmaceutical (002603.SZ) issued on February 26.
According to the bulletin, the reasons that driving the performance growth, on the one hand, mainly include the greatly enhanced brand awareness of Lianhua Qingwen products, the significantly increased market demand at home and abroad, and the realization of rapid growth of Lianhua Qingwen product sales revenue compared with a year earlier; on the other hand, the Company won the first prize of the State Science and Technology Award in January 2020, boosting the market influence of the Company's cardiovascular and cerebrovascular products, of which the sales revenue recorded a year-on-year increase.
R&D capability is the key to sustainable development for pharmaceutical enterprises and also serves as an important reflection of the core competitiveness. Yiling Pharmaceutical has developed more than 10 patented varieties of traditional Chinese medicine, among which 8 are listed in the catalog of medicines covered by national medical insurance system and 5 are in the national essential medicine list, forming a series of patented drug clusters at different research and development stages. Over the past five years, Yiling Pharmaceutical has been increasing R&D investment year by year, with a year-on-year increase of 44.34% to 515 million yuan (USD 79.60 million) in 2019. Yiling spent 390 million yuan (USD 60 million), 48.49% YoY growth, on research and development in the first three quarters of 2020.
Up to now, the patented Chinese medicine Lianhua Qingwen Capsules manufactured by Yiling Pharmaceutical has been marketed in more than 20 countries and regions including Canada, Russia, the Philippines and Kuwait. Lianhua Qingwen has been officially approved for the treatment of COVID-19 patients in China, Kuwait, Uzbekistan and Mongolia.