Buchang held its Annual Shareholder Meeting in June 2019, where it approved the payment of its FY2018 dividend and announced a bonus share issue. Details of these are set out below:
– Dividend: FY2018 profit distribution plan of RMB1.614 per share (before tax)
– Bonus Share: the issuance of 3 new shares for every 10 existing shares held
The budget for 2019 was also approved, with target revenue and net profit for FY2019 set at RMB 15.32 billion (up 12.1% from 2018’s 13.66 billion) and RMB 2.04 million (up 6.7% from 2018’s 1.91 billion) respectively.
Buchang Pharmaceuticals is one of the leading traditional Chinese medicine (TCM) companies in China. Buchang was founded in 1993 by Mr. Zhao Buchang and his eldest son, Mr. Zhao Tao. Starting as a small TCM drug manufacturer, Buchang has evolved into a sales and marketing powerhouse. The Company has the most extensive sales network amongst its peers in China, covering over 15,000 hospitals and 150,000 drug stores. The Company’s product portfolio consists of in-house developed products, as well as products that it acquired and turned into blockbusters. Buchang’s brand name is widely recognized by physicians and patients throughout China.