TCM 短中线进入机会来了

[pinkfloyd]

作者: zoomtech

This puppy is hard to deal with right now. No earning data, no projection and tech analysis data insufficient... I am keeping an eye on it...

dont forget yell when u got.

[pinkfloyd]

作者: ike

ggl 0.56 3:22 lost $1400.

你给兄弟们也留点过周末好不好啊?

[pinkfloyd]

作者: ike

不是我們贪，而是mm们太坏，剥削我们时，一点都不留情，原计划在5%以上，即
0。53附近出，考虑到周末，就提前...

要身体力行。谢谢老大。我这新手太贪，好几次几千的成本利润都在300-400就是不走，不但没上去，眼睁睁看着掉下来。MM是TNN坏。手段高啊，

[pinkfloyd]

作者: naka

今天盘后最后一比成交在12。00，晕死了，恍惚间依稀老大含着微笑在周一的谆谆教导又在耳边回荡：老兄，卖早��...

什么条件能做盘前，这些日子发现盘前获利简单而且丰厚，到了盘中就是剩菜汤和鸡勒。从avnr可见一斑，那个诱人啊。

[pinkfloyd]

Tongjitang Chinese Medicines Company Announces First Quarter 2007 Financial Results

SHENZHEN, China, May 03, 2007 (BUSINESS WIRE) -- Tongjitang Chinese Medicines Company (NYSE: TCM), a leading specialty pharmaceutical company focusing on the development, manufacturing, marketing and selling of modernized traditional Chinese medicine in China, today announced its unaudited financial results for the first fiscal quarter ended March 31, 2007.
Highlights for the First Quarter Ended March 31, 2007

-- Revenue increased 37% year over year to RMB148.3 million ($19.2 million)(1), driven by the company's leading product, Xianling Gubao, which grew 76% year over year to RMB116.1 million ($15.0 million).

-- Net revenue from core products excluding Xianling Gubao increased 446% year over year to RMB19.1 million ($2.5 million), reflecting effective marketing and promotions begun in the second half of 2006.

-- Gross margin for the quarter was 66.3%, which is in line with management expectations and reflects continued stabilization in raw material costs.

-- Net income increased 22% year over year to RMB47.3 million ($6.1 million).

-- Net income per share(2) was RMB0.45 ($0.06) per share, up from RMB0.44 in prior year period and despite a 19% increase year over year in the weighted average number of shares used in this calculation.

Xiaochun Wang, Tongjitang's chief executive officer and chairman of its board of directors, stated, "The first quarter of 2007 marks a historic period for our Company. We successfully completed our initial public offering and achieved compelling top and bottom line financial results in what is seasonally a challenging quarter. We continued to penetrate and optimize our existing points of sale throughout China, increasing our presence in the larger, more established Tier III hospitals and in our network of over 34,000 pharmacies. Our raw material costs remained stable and our gross margin was solid at 66.3%, which was as expected and in line with several previous quarters. We are very pleased with our first quarter financial performance and look forward to the exciting growth opportunities in the year ahead."

Mr. Wang continued, "While government price reductions put pressure on the Chinese pharmaceutical industry over the past year, we are pleased to say that the impact on our business has been limited thus far. While we have no control over these pricing regulations by the PRC government, we continue to focus on consistently producing the highest quality modernized traditional Chinese medicine products and improving our sales volume throughout our distribution network. We believe these initiatives will drive value for our shareholders in 2007 and beyond."

Financial Results for the First Quarter Ended March 31, 2007

Net revenues for the first quarter were RMB148.3 million ($19.2 million), up 37% from RMB108.2 million in the first quarter of 2006. Net revenues from the company's flagship product, Xianling Gubao, were RMB116.1 million ($15.0 million), representing a 76% increase from the first quarter of 2006.

Net revenues from core products excluding Xianling Gubao increased significantly. Sales of Zaoren Anshen Capsules increased 268% to RMB 7.0 million ($0.9 million) and sales of Moisturizing and Anti-itching Capsules increased 271% to RMB5.2 million ($0.7 million), year over year. Additionally, the Company's active promotion of Dianbaizhu Syrup to medical doctors and hospital administrators in the fourth quarter 2006 drove net revenues in the first quarter of 2007 to RMB6.9 million ($0.9 million), surpassing its 2006 full year net revenues of RMB5.7 million.

Gross profit increased 20% to RMB98.3 million ($12.7 million), representing a gross margin of 66.3%, in the first quarter of 2007 compared to RMB81.8 million and 75.6% in the first quarter of 2006, respectively, and compared to RMB101.1 million and 66.6% in the fourth quarter of 2006, respectively. Tongjitang's cost of revenues largely reflects the cost of barrenwort, which is the main ingredient in the Company's leading product, Xianling Gubao. The Company's gross margin of 66.3% in the first quarter of 2007 was in line with sequential results and with management's expectations, and reflects stabilization in the cost of barrenwort, which the Company continues to help offset with advancement in extraction techniques and in-house cultivation. In the first quarter of 2006, abnormally high levels of barrenwort extraction significantly drove down raw material costs.

Operating income increased 26% to RMB46.4 million ($6.0 million) from RMB36.9 million in the first quarter of 2006. Operating expenses increased 15% on an absolute basis to RMB 52.2 million ($6.8 million) in the first quarter of 2007 from RMB45.2 million in the first quarter of 2006, but decreased to 35% of revenue in the first quarter of 2007 from 42% of revenue in the first quarter of the prior year. Operating expenses primarily reflect increases in general and administrative expenses, due to payments made in conjunction with or arising from the Company's initial public offering, increases in selling and marketing expenses, including higher payroll and headcount costs concurrent with the growth of the Company, and increases in research and development expenditure, which is consistent with the Company's plan to make investments through the year in this area.

Net income increased 22% to RMB47.3 million ($6.1 million), or RMB0.45 per share, in the first quarter of 2007 from RMB38.7 million, or RMB0.44 per share, respectively, in the first quarter of 2006. The Company's weighted average number of shares increased 19% to 104.4 million shares in the first quarter of 2007 from 88.1 million shares in the first quarter of the previous year.

As of March 31, 2007, the Company had cash and cash equivalent of RMB814.0 million ($105.4 million), compared to RMB231.0 million as of December 31, 2006. This increase is primarily due to proceeds of approximately US$77.7 million received by the Company from its initial public offering (before deducting IPO expenses) in the first quarter of 2007. Tongjitang had working capital of approximately RMB1.0 billion ($131.9 million) as of March 31, 2007.

Capital expenditures for the quarter were RMB5.5 million ($0.7 million).

Business Highlights

-- Phase IV clinical trial of Xianling Gubao's prevention of ischemic bone necrosis commenced at seven major medical centers in China with an enrollment of approximately 480 patients.

-- Designs for the Company's new research and development centre were completed in April 2007. This new R&D centre will be built according to GLP standard in China. Completion is currently expected in the first half of 2008.

-- The Company expects to recognize an incremental RMB6.4 million ($0.8 million) from a government grant through 2007 and 2008. In April 2007, Tongjitang's operating subsidiary, Guizhou Tongjitang Pharmaceutical Co. Ltd., received notice from the local government authority that it would receive the above mentioned grant in installments, which are expected to begin in May 2007 and finish by year end 2008. The Company believes that these installments will contribute approximately RMB6.4 million ($0.8 million) to net income through the full years 2007 and 2008.

Financial Outlook

The Company expects the following for the full year 2007:

-- revenue in the range of RMB590 million to RMB620 million;

-- and gross margins sustainable at levels in the mid-60%.

These forecasts reflect the Company's current and preliminary view, which is subject to change.

Conference Call

The company will hold a conference call on May 3, 2007 at 8:00 am ET (8:00 pm Hong Kong Time on May 3, 2007). Listeners may access the call by dialing the following numbers: Hong Kong toll free: +800 908707, International: +1 719 457 2728, and United States toll free: +1 800 475 3716. Listeners may access the replay through May 10, 2007 by dialing the following numbers International: +1 719 457 0820, and United States toll free: +1 888 203 1112, Password: 3094437. An audio webcast of the call will also be available through the Company's website at www.tongjitang.com and will be available through May 10, 2007.

About Tongjitang Chinese Medicines Company

Tongjitang Chinese Medicines Company, through its operating subsidiaries Tongjitang Pharmaceutical, Tongjitang Distribution, Tongjitang Chain Stores, and Tongjitang Planting, is a vertically integrated and profitable specialty pharmaceutical company focusing on the development, manufacturing, marketing and selling of modernized traditional Chinese medicine in China. The principal executive offices of the company are located in Shenzhen, China.

Tongjitang's flagship product, Xianling Gubao, is the leading traditional Chinese medicine for the treatment of osteoporosis in China as measured by sales in Renminbi amounts. In addition to Xianling Gubao, the company manufactures and markets 10 other modernized traditional Chinese medicine products and 37 western medicines. Visit www.tongjitang.com for more information.

Safe Harbor Statement

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from those described in the forward -looking statements in this press release. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our growth strategy; our future business development, results of operations and financial condition; our heavy dependence on the success of Xianling Gubao; our ability to market Xianling Gubao to hospitals and to retail pharmacies; the retail prices of our principal products' being subject to price control by the government authorities in China; our products' inclusion in national and provincial medical catalogs of the National Medical Insurance Program in China; our ability to obtain approval from the State Food and Drug Administration in China to convert a provisional national production standard of our principal products to a national final production standard; our ability to continue having the exclusive production rights for our products; our ability to further improve our barrenwort extraction efficiency; our ability to obtain manufacturing or marketing approval for our future products; our dependence on a limited number of distributors for a significant portion of our net revenues; our ability to protect our intellectual property rights and defend infringement or misappropriation claims by third parties; intense competition in the pharmaceutical market in China; the supply of quality medicinal raw materials; and uncertainties with respect to the legal system in China. Further information regarding these and other risks is and will be included in our registration statement on Form F-1 and other documents filed and to be filed with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law.

(1). This announcement contains translations of certain Renminbi amounts into US dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to US dollars as of and for the quarter ended March 31, 2007 were made at the noon buying rate on March 30, 2007 in the City of New York for cable transfers in Renminbi per US dollar as certified for customs purposes by the Federal Reserves Bank of New York, which was RMB7.7232 to USD1.00. Tongjitang makes no representation that the Renminbi or US dollar amounts referred to in this release could have been or could be converted into US dollars or Renminbi, as the case may be, at any particular rate or at all.

(2). All references to 'shares' are to our ordinary shares. Each of our American Depositary Shares, which traded on the New York Stock Exchange, represents four ordinary shares.



Tongjitang Chinese Medicines Company
Consolidated Statements of Operations
(In thousands, except share and per share data)

First Quarter Ended March 31
-----------------------------------
2006 2007 2007
----------- ----------- -----------
RMB RMB US$
(Note)
Net revenues 108,153 148,322 19,205
Cost of revenues 26,341 50,053 6,481
----------- ----------- -----------
Gross profit 81,812 98,269 12,724
Advertising expenses (28,874) (25,077) (3,247)
Other selling and marketing
expenses (10,429) (13,094) (1,695)
General and administrative expenses (4,619) (11,955) (1,548)
Research and development expenses (1,304) (2,102) (272)
Other operating income 273 344 45
----------- ----------- -----------
Income from operations 36,859 46,385 6,007
Other income (expenses):
Interest income 78 2,131 276
Interest expense (2,921) (2,370) (307)
Government grants 4,476 960 124
Other income, net 234 179 23
----------- ----------- -----------
Income before income taxes and
minority interest 38,726 47,285 6,123
Provision for income taxes - - -
Minority interest (26) 5 1
----------- ----------- -----------
Net income 38,700 47,290 6,124
=========== =========== ===========

Earnings per share - basic and
diluted
Ordinary shares 0.44 0.45 0.06
=========== =========== ===========

Ordinary shares classified as
mezzanine equity N/A 0.45 0.06
=========== =========== ===========

Shares used in computation of
earnings per share - basic and
diluted
Ordinary shares 88,074,711 95,659,767 95,659,767
=========== =========== ===========

Ordinary shares classified as
mezzanine equity N/A 8,715,463 8,715,463
=========== =========== ===========

(Note)
The consolidated financial statements of the Company are stated in
Renminbi ("RMB"). The translation of RMB amounts as of and for the
period ended March 31, 2007 into United States dollar ("US$") is
included solely for the convenience of readers and has been made at
the rate of RMB 7.7232 to US$1.00, which is based on the noon buying
rate in The City of New York for cable transfers of Renminbi as
certified for customs purposes by the Federal Reserve Bank of New
York at March 30, 2007. Such translations should not be construed as
representations that RMB amounts could be converted into US$ at that
rate or any other rate.

[pinkfloyd]

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