国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

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
万全县| 吉林省| 通榆县| 巴林左旗| 灌云县| 盖州市| 和静县| 定安县| 镇平县| 宁武县| 八宿县| 扶沟县| 娄烦县| 尼玛县| 明溪县| 区。| 祁阳县| 西乌珠穆沁旗| 湖北省| 正定县| 长顺县| 依安县| 寻甸| 宜黄县| 玉树县| 磐安县| 札达县| 如皋市| 普定县| 高州市| 内丘县| 云和县| 江津市| 钟祥市| 哈密市| 阳曲县| 建瓯市| 彭州市| 陕西省| 成安县| 乌拉特中旗|