the medical equipment Fuling capsule and the hospi

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In the present society, everyone has their own different lives, people in this society on the pace of life is not the same, some people love it, some people like that kind of life.
Each person’s physique is not the same, so everyone is not the same severity of illness, then select the medical equipment Fuling capsule will be different, some people would choose equipment, and some will choose another.
The company in 2009 operating income of 964 million yuan, of which manufacturing is the company’s main business of proprietary Chinese medicines, accounting for 89.2%. Among them, the leading products for the medical equipment Fuling capsule and heat-toxin injection, in 2009 revenue, respectively, 3.16 and 1.98 billion and revenue accounting for up to 37% and 23%. Strong R & D capacity: Chairman Mr. Xiao Wei is an expert in Chinese medicine research and development, long-term research and development in modern medicine. In this scholar, led by chairman, Kang edge medicine attaches great importance to traditional Chinese medicine research and development of new drugs, one after another around the gynecological, cardiovascular, orthopedics, and oncology of infectious diseases and other major disease areas, development of a group of independent knowledge property rights of Chinese medicine and innovative products. Extensive follow-up products company, which ginkgolides injection and shaking Injection available in the market than similar drugs such as Shuxuening, Xingnaojing has better efficacy and other broad market prospect. Revenue growth slowed in the second half of 2010: The company main products the fourth quarter of 2010 revenue growth has slowed down. Reference to the three quarterly in 2010, we expect 2010 full year growth rate of the company or slightly less than 20%. Among them, the main products Reduning mainly because of higher base of the fourth quarter of 2009; and Fuling capsule is mainly because of the third and fourth terminals of the distribution of growth began to slow down. 2011 cost of equity incentive or push the accounting provision for: November 2010, the company announced the medical equipment implementation of equity incentive programs. 2011-13 was estimated that the cost of equity incentive for the 2272,2678 and 3300, respectively million.
However, we think the physical is not the same, for example, some people liked medical equipment, but some people will choose the medical equipment Fuling capsule, although the hospital supply company expects not very good, but some people will choose.
However, according to accounting standards, we expect 2011 will be higher than the true cost of provision of the original estimated value of 1 times. Consider the long-term equity incentive effect, given the "Recommended" rating we expect the company’s 2010-12 earnings per share were 0.44,0.60 and 0.78 yuan, the corresponding PE 38,28 and 22 times respectively. Although the cost pressures faced in 2011, considering the company less than 30 times the 2011 valuation, and equity incentive programs have long-term effects, we believe that stock prices have reached a strategic Jiancang time, thus giving "recommended" rating. The certification in the European Union co-efficient. Nine of the company’s new antibiotic medicine raw material medicine and preparation of the development, production base, has 17 varieties of cephalosporin antibiotics, the GMP certification by the French, not only the export of agents of the company has the potential to regulate the market, but also help maintain the product in the domestic price system, to seek a separate pricing. Maintain "prudent recommendation-A" investment rating. 2011 to 2013 the hospital supply company expects operating income up 21%, 22%, 20%, net profit rose 25%, 22%, 18%, to achieve EPS 1.04 yuan, 1.27 yuan, 1.50 yuan, the corresponding PE of 23 times, 19 times, 16 times. Taking into account the cost of the company in 2011, cost pressures expected to ease, and the extension and expansion to bring the imagination, the relative safety of the current valuation, we maintain "prudent recommendations-A" investment rating. Risk Tip: raw material prices and lower prices.
However, as some people, then, training in Shanghai than the medical equipment Fuling capsule better than many, many, as opposed to the words of these two is there are still many people choose to the hospital supply company expects’s