Log in
E-mail
Password
Show 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

TIANJIN ZHONG XIN PHARMACEUTICAL GROUP CORPORATION LIMITED

(T14)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Response to SGX Queries::

11/09/2021 | 05:13am EST

TIANJIN ZHONG XIN PHARMACEUTICAL GROUP CORPORATION LIMITED

(Company Registration No. 91120000103100784F)

(Incorporated in People's Republic of China)

RESPONSE TO SGX QUERIES ON UNAUDITED INTERIM RESULTS FOR THE 9-MONTH PERIOD ENDED 30 SEPTEMBER 2021

All capitalised terms used herein, unless the context otherwise requires, shall bear the meanings ascribed to them in the 9M2021 Results Announcement.

Tianjin Zhong Xin Pharmaceutical Group Corporation Limited (the "Company", and together with its subsidiaries, the "Group") has received queries from the Singapore Exchange Securities Trading Limited (the "SGX-ST") regarding the Company's unaudited interim results for the 9-month period ended 30 September 2021 ("9M 2021") announced on 29 October 2021 (the "9M 2021 Results Announcement"). The Company's responses to the SGX-ST's queries are set out below:-

SGX Query 1

Please disclose the reasons for the significant increase for allowance for impairment loss on other receivables to RMB 9.2 million in 3Q2021 and RMB 13.1 million in 9M2021 from RMB 405,000 and RMB 897,000 respectively in the previous comparative periods.

Company's response:

In the third quarter of 2021, the company provided impairment loss of 9.2 million on other receivables, and impairment loss for other receivables of 13.07 million was provided from January to September 2021. The main reason for the year-on-year increase is that the company has filed a lawsuit against a debtor. Meanwhile the company was actively seeking recovery of the arrears from the debtor and has recovered part of the arrears. At present, the case is still under trial. In consideration of the uncertainty of the time and amount of recovering the remaining balance, full impairment loss is provided for it.

SGX Query 2

Please elaborate on the reasons for the impairment loss on inventories of RMB (6.03) million in 3Q2021 from a reversal of impairment of RMB 3.84 million in the previous corresponding period.

Company's response:

The company provided inventory impairment loss of RMB6.03 million in the third quarter 2021 after identifying the inventories whose cost were higher than the net realizable values and those inventories approaching expiry date according to the accounting policy; There was reversal of impairment loss of RMB3.84 million on inventories in the same period of last year. It was mainly due to sales and return of inventories in the third quarter of 2020 on which impairment loss was previously provided and therefore reversal of impairment loss was made.

By order of the Board

Jiao Yan

Company Secretary

9 November 2021

1

Disclaimer

Tianjin Zhongxin Pharmaceutical Group Corporation Ltd. published this content on 09 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2021 10:12:02 UTC.


ę Publicnow 2021
All news about TIANJIN ZHONG XIN PHARMACEUTICAL GROUP CORPORATION LIMITED
2021Tianjin Zhongxin Pharmaceutical Elects New Chairman; Shares Slip 3%
MT
2021Tianjin Zhong Xin Pharmaceutical Group Corporation Limited Approves Election of Ms. Zha..
CI
2021GENERAL ANNOUNCEMENT : :resolutions passed at the 11th board meeting for fy2021
PU
2021CHANGE - ANNOUNCEMENT OF APPOINTMENT : :Change - Announcement of Appointment
PU
2021CHANGE - ANNOUNCEMENT OF CESSATION : :Change - Announcement of Cessation
PU
2021EXTRAORDINARY/ SPECIAL GENERAL MEETI : :Voluntary
PU
2021GENERAL ANNOUNCEMENT : :update on the 3rd proposed repurchase
PU
2021RESPONSE TO SGX QUERIES : :
PU
2021Tianjin Zhong Xin Pharmaceutical Group Corporation Limited Reports Earnings Results for..
CI
2021Tianjin Zhong Xin Pharmaceutical Group Corporation Limited Appoints Mr. Xing Jianhua as..
CI
More news
Financials
Sales 2020 6 604 M 1 045 M 1 045 M
Net income 2020 662 M 105 M 105 M
Net cash 2020 1 945 M 308 M 308 M
P/E ratio 2020 1,35x
Yield 2020 25,8%
Capitalization 16 396 M 2 594 M 2 594 M
EV / Sales 2019 1,08x
EV / Sales 2020 1,39x
Nbr of Employees 4 840
Free-Float 57,8%
Chart TIANJIN ZHONG XIN PHARMACEUTICAL GROUP CORPORATION LIMITED
Duration : Period :
Tianjin Zhong Xin Pharmaceutical Group Corporation Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TIANJIN ZHONG XIN PHARMACEUTICAL GROUP CORPORATION LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Managers and Directors
Yan Li General Manager & Executive Director
Yuan Xi Wang Chairman-Supervisory Board
Mingrui Zhang Chairman
Gang Wong Independent Non-Executive Director
Yoke Pheng Liew Independent Non-Executive Director