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      July 1, "People's Republic of China Traditional Medicine Law" will be formally implemented, will provide a strong guarantee for the development of Chinese medicine, Chinese medicine will be the development of the revitalization of the golden age. Chinese medicine listed companies is the backbone of the development of Chinese medicine, but also the development of Chinese medicine to promote the vanguard.

      June 27, China's first "Chinese medicine listed companies development report (2017 version)" (hereinafter referred to as "report") release. The report shows that China's 153 Chinese medicine listed companies, including 61 A shares (35 motherboards, 19 small plates, GEM 7), the new three board 79, Hong Kong stocks 13. These listed companies include both old and famous enterprises, also contains emerging Chinese medicine Pieces and pharmaceutical companies.

      From the profitability point of view, in the higher gross margin companies, small and medium-sized Chinese medicine companies accounted for the increase, mainly large Chinese companies have a considerable proportion of business income, lower overall gross margin. Proprietary Chinese medicine varieties, the product has a unique effect, strong exclusivity, product gross margin is relatively high. Moreover, through the protection of traditional Chinese medicine varieties, brand, etc., to extend the market monopoly time, in a long time to maintain a high level of gross margin.

      At the same time, the report pointed out that compared with the chemical and chemical enterprises, traditional Chinese medicine enterprises overall gross margin is still low, mainly Chinese herbal medicine and other raw materials accounted for a large proportion, especially in recent years, large fluctuations in Chinese herbal medicine prices, proprietary Chinese medicine profits Resulting in a greater impact. To 37 cases, for example, as the injection of Xuesaitong, Xuesaitong and compound Xuesetong capsule and other major varieties of traditional Chinese medicine raw materials, the price changes on the relevant varieties and listed companies have a lot of profit levels.

      R & D investment, large-scale proprietary Chinese medicine company is the main force of R & D investment, old enterprise R & D investment is relatively low. Sales costs, proprietary Chinese medicines and large health products of the larger companies ranked first, step-length pharmaceutical sales cost of the top, Baiyun Mountain has the largest Chinese medicine listed companies sales staff. While the old sales cost accounted for low, mainly related to the product to OTC-based, Minsheng Securities pharmaceutical industry analyst Wu Han Liang said.

      Segmentation, Chinese medicine Pieces industry has been the entire Chinese medicine industry in the very high degree of industry, industry concentration is low, the annual sales of billions of enterprises about 30%, less than 50 million small and medium enterprises accounted for a considerable proportion The "Chinese medicine Pieces do not participate in centralized procurement, enjoy the drug bonus, the industry's prosperity in the next few years is expected.Combined companies cut into the Pieces industry, for the entire Pieces of the industry standardization and concentration will be greatly improved, The integration of the entire industry is already the trend. "Wu Han Liang said.

      As for the Chinese medicine industry, it is the largest number of sub-sectors of Chinese medicine income, the number of Chinese medicine enterprises in China has increased, 2015 has reached 1599, income has reached 616.7 billion yuan, compared with 2003 income increased by 10 Times more than the compound growth rate of more than 20%. A-share listed companies in the proprietary Chinese medicine business is about 55, 2016 operating income of 185.8 billion, an increase of 11.3%. In the top ten Chinese medicine listed companies operating income, the operating income of 20 billion of Yunnanbaiyao, Kangmei Pharmaceutical and Baiyun Mountain, three have a large part of the pharmaceutical business income. In the net profit rankings, Kangmei Pharmaceutical and Yunnan Baiyao also swept the top two, net profit of about 30 billion yuan. East E-Jiao, step-length pharmaceutical companies such as six net profit of 10 to 2 billion, belonging to the industry's second echelon.

      In the past two years, the Chinese medicine industry has been affected by medical insurance and auxiliary drugs. The growth rate slowed down and reached the level of single digits. Wu Han Liang said. The report argues that one of the ways to overcome the development of suffering is to develop large varieties of products. "In 2016, the Chinese Society of Chinese Medicine published a report on the competitiveness of major listed companies in science and technology, and we can see that some of the listed companies' , Such as Danhong injection, compound Danshen dripping pills, etc. "Wu Han Liang said.

      At the same time, the report that the future development of Chinese medicine clinics great potential. At present, the medical resources of traditional Chinese medicine clinics are mainly concentrated in the public Chinese medicine hospital, private Chinese medicine hospitals and clinics accounted for a small proportion of medical services, the degree of market is not high. Listed companies involved in Chinese medicine diagnosis and treatment services business, one is like Ren Tang, Zhejiang Zhen Yuan, the people with the Thai and other old enterprises with traditional Chinese medicine, to take the "front office Zuozhen, after the Church of medicine" sitting mode, Chinese medicine clinics are generally Pharmacy completed, through the establishment of pharmacies to form a chain. In addition, there are some Chinese medicine enterprises through the establishment or acquisition of Chinese medicine clinics, to create traditional Chinese medicine chain clinic model, such as red medicine, too dragon medicine.

      Wu Han Liang said that the future subject to the classification of treatment policy, in addition to medical treatment services can provide comprehensive medical services, you can also use the unique advantages of Chinese medicine, the development of rehabilitation, pension, health and other industries, and better prospects for development. In these areas, we can give full play to the social capital strength, held traditional Chinese health care, rehabilitation, medical and other types of health services, and to achieve group development or chain management, so that the Chinese medicine health service industry continues to grow and develop.

      In addition, in the field of non-medical treatment of Chinese medicine, daily necessities, cultural tourism and other aspects of Chinese medicine company is promising.