Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  Shanghai Fosun Pharmaceutical Group Co., Ltd.    600196   CNE000000X38

SHANGHAI FOSUN PHARMACEUTICAL GROUP CO.,

(600196)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Shanghai Fosun Pharmaceutical : banks issue 1.31 billion yuan in cheap loans to counter virus impact

share with twitter share with LinkedIn share with facebook
02/20/2020 | 11:38am EDT
Woman wearing a face mask walks at the Beijing Daxing International Airport, as the country is hit by an outbreak of the novel coronavirus

Banks in Shanghai have issued 1.31 billion yuan ($186.8 million) in cheap loans to 48 key firms to help tackle a coronavirus outbreak that has dampened economic activity, a local government official said on Wednesday.

The bank loans had an average interest rate of 2.35%, and were made mostly to manufacturers, medical suppliers and equipment makers, Li Jun, deputy director of the Shanghai Financial Service Office, told a news briefing.

China's benchmark loan prime rate (LPR) is 4.05%, having been cut by 10 basis points earlier in the day as part of stepped-up support measures by authorities to cushion the blow to economic growth from the coronavirus that has now caused more than 2,100 deaths.

Li said in an emailed statement to Reuters that the coronavirus outbreak has not impacted the opening up of China's financial policies and the implementation of those policies.

"Shanghai's financial market is also speeding up product development, allowing foreign institutions to participate in China's financial market more easily, allocate more high-quality Renminbi assets, and share the benefits of China's reforms and opening up," Li said in the email.

The Shanghai branch of China Development Bank (CDB), the country's main policy bank, has issued 231 million yuan of emergency loans to firms including Shanghai Kaimi Technology Co, SAIC Maxus Automotive Co, Shanghai Fosun Pharmaceutical, and Shanghai Desano Pharmaceuticals Co, said Zhu Xuesong, vice president of the branch.

Cities across much of China have been in lockdown since an extended Lunar New Year holiday last month, while travel bans and quarantine orders have been put in place around the country in efforts to curb the virus from spreading.

The containment efforts have caused economic disruptions, with factories and businesses unable to fully resume operations due to a lack of workers and raw materials.

(Reporting by Emily Chow in Shanghai and Cheng Leng in Beijing; Editing by Shri Navaratnam and Tom Hogue)

Stocks mentioned in the article
ChangeLast1st jan.
SHANGHAI FOSUN PHARMACEUTICAL GROUP CO., LTD. -1.28% 35.54 End-of-day quote.33.61%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.28% 7.0085 Delayed Quote.0.53%
share with twitter share with LinkedIn share with facebook
Latest news on SHANGHAI FOSUN PHARMACEUTI
07/01BioNTech and Pfizer's COVID-19 vaccine shows potential in human trial
RE
06/29Temasek-led investor group in $250 million vaccine bet on Germany's BioNTech
RE
04/29Shanghai Fosun Pharmaceutical 1Q Net Fell 19% on Higher Research Expenses
DJ
03/30Shanghai Fosun Pharmaceutical 2019 Net Profit Rises 23%
DJ
03/20SHANGHAI FOSUN PHARMACEUTICAL GROUP : annual earnings release
03/18SHANGHAI FOSUN PHARMACEUTICAL : Voluntary announcement - the progress of the pla..
PU
03/18SHANGHAI FOSUN PHARMACEUTICAL : Date of board meeting(h shares)
PU
03/17Pfizer, BioNTech to co-develop potential coronavirus vaccine
RE
03/16BioNTech in China alliance with Fosun over potential coronavirus vaccine
RE
03/15SHANGHAI FOSUN PHARMACEUTICAL : OVERSEAS REGULATORY ANNOUNCEMENT - Announcement ..
PU
More news
Financials
Sales 2020 32 408 M 4 631 M 4 631 M
Net income 2020 3 526 M 504 M 504 M
Net Debt 2020 13 549 M 1 936 M 1 936 M
P/E ratio 2020 25,6x
Yield 2020 1,15%
Capitalization 85 253 M 12 178 M 12 182 M
EV / Sales 2019
EV / Sales 2020 3,05x
Nbr of Employees 31 370
Free-Float 62,3%
Chart SHANGHAI FOSUN PHARMACEUTICAL GROUP CO., LTD.
Duration : Period :
Shanghai Fosun Pharmaceutical Group Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SHANGHAI FOSUN PHARMACEUTI
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 31,82 CNY
Last Close Price 35,54 CNY
Spread / Highest target 18,2%
Spread / Average Target -10,5%
Spread / Lowest Target -39,6%
EPS Revisions
Managers
NameTitle
Yi Fang Wu President, CEO & Executive Director
Qi Yu Chen Co-Chairman
Fang Yao Co-Chairman
Qian Ren Chairman-Supervisory Board
Xiao Hui Guan CFO, Chief Accountant Officer & Senior VP