综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Center

Tongjitang is first TCM firm to trade on the NYSE

By Jin Jing (China Daily)
Updated: 2007-03-17 09:22
Large Medium Small

Tongjitang Chinese Medicine Co, a domestic traditional Chinese medicine manufacturer, made its debut on Friday on the New York Stock Exchange, becoming the first traditional Chinese medicine company to list on the world's biggest exchange.

Tongjitang earlier offered 9.87 million American Depositary Shares (ADS) at an estimated price range of $15 to $17 a share in a bid to raise as much as $168 million. The offer was underwritten by Merrill Lynch, UBS Securities and CIBC World Markets. The company offered 8.35 million ADS; selling shareholders offered another 1.5 million ADS.

"It is a sign that Chinese herbal medicine has been winning greater recognition among Westerners as an alternative health care supplement," said Yuan Lu, an analyst at Everbright Securities.

Tongjitang was privately founded in 1995. It has more than 140 kinds of Chinese traditional medicine and Western medicine, which is sold both by prescription and over the counter. The company owns seven patented herbal drugs, including Xianling Gubao for the treatment of osteoporosis and Zaoren Ansheng for neurasthenia.

Tongjitang net income in 2006 amounted to $17.2 million, up 20 percent from 2005. Its major product, Xianling Gubao, accounted for 77.2 percent of the revenue.

Premier Wen Jiabao said in a March 5 report that the government would strongly support the development of traditional Chinese medicine and the folk medicine of ethnic minorities and give full play to their important role in preventing and treating illness.

"The premier's report raised our confidence in the Chinese medicine industry. Chinese traditional medicine companies have been performing well in recent years," said Yuan. For instance,YunnanBaiyao Group Co Ltd, which listed on theShenzhen Stock Exchange, posted a net profit increase of 20 percent in the period from January to September in 2006.

"But not all the medicine companies performed well, especially when the price of medicine drops and the medicine industry lacks regulation," said Ye Songtao, an analyst at Changjiang Securities.

"Listing overseas can help companies boost their international reputation and facilitate overseas expansion," said Ye.

分享按鈕
衡阳县| 永丰县| 繁峙县| 临夏市| 广汉市| 甘孜县| 浦城县| 奉节县| 海丰县| 英吉沙县| 汝城县| 亳州市| 穆棱市| 鸡泽县| 乌鲁木齐市| 富川| 迭部县| 武宣县| 东明县| 吴堡县| 秦皇岛市| 德清县| 彭山县| 长宁县| 太和县| 孝义市| 喀什市| 长汀县| 闽侯县| 宣武区| 镇巴县| 尼木县| 自治县| 武夷山市| 鄢陵县| 焦作市| 宁晋县| 盘锦市| 南丹县| 博湖县| 太仓市|