Established in 1970, Shandong Pharmaceutical Glass Co., Ltd. has been focusing on medicinal glass products. The development in the past 40 years has made this company the largest pharmaceutical glass manufacturer in China. The company’s share of molded bottles in the domestic market has reached an astonishing 70%. Medical reform has taken a big step forward. In the list of national essential medicines that have already been published, chemical drugs and biological products have some 200 kinds of drugs in total. Among them, the variety of injections has reached 100, and Shandong Pharmaceutical Glass’s leading product molded bottles are injection medicines. Provide packaging. With the popularization and promotion of these drugs in primary health care institutions, the company's molded bottle business will have a substantial growth opportunity. At the same time, medical reforms will also allow the company's other businesses to gain huge room for growth, such as butyl rubber stoppers, brown bottles, and vials. Advantage in the industry Due to its outstanding industry status, the growth potential of Shandong Pharmaceutical Glass is determined to a greater extent by the increase in the demand for domestic pharmaceutical glass bottles. As a pharmaceutical packaging, the growth in the demand for medicinal glass bottles is not isolated, and its growth must be accompanied by the expansion of the domestic pharmaceutical market and the increase in the demand for medical devices. From this point of view, medical reform has a profound effect on the growth of Shandong Pharmaceutical's performance. The company's competition with competitors for the market is already relatively small, and continued growth can only depend on expanding the size of the entire market. Stable growth for 10 years Due to the limited market size of domestic pharmaceutical glass bottles, in terms of absolute value, Shandong Pharmaceutical Glass's sales volume exceeded 1 billion yuan in 2007, reaching 1.16 billion yuan last year, and net profit exceeded 100 million yuan for two consecutive years. The mark reached 110 million yuan and 140 million yuan respectively. However, stability is a distinctive feature of this company's growth. In the past 10 years, Shandong Pharmaceutical Glass has achieved double growth in operating income and net profit each year, and the annual composite value-added rate of both indicators has reached 20%. What is rare is that in recent years, the company's profitability has remained at a relatively high level. Last year, the company's gross profit margin reached 29.3%, and its net sales rate reached 12.3%. The former was at the same level as in 2007, while the latter was significantly increased by 1.3%. This is particularly difficult in the economic downturn of 2008. In the first half of this year, the above two indicators have continued to increase. Among them, the gross profit rate has increased to 31.3%, and the net sales rate has further increased to 13.3%, indicating that the company's profitability is very prominent and has not been affected by the domestic economic situation. On the one hand, the company, as a leading company with a market share of more than 70% of domestic pharmaceutical glass bottles, enjoys high product pricing power, which makes product prices unlikely to be affected too much; on the other hand, the main raw material prices of the company's products are Since the end of 2008, there has been a significant decline. The prices of lightweight, heavy soda ash and butyl rubber have all fallen by nearly 50% since the end of last year, which has improved the company's profitability.
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Molded Bottle Giants: Potential Analysis of Shandong Pharmaceutical Glass Market
This is a leading company in the field of subdivision of medicinal glass bottles. Last year, its operating income reached 550 million yuan. Like all stealth champions, although its individual products seem to be insignificant, it is this tiny glass bottle that has been installed. Big business.