BEIJING, Dec. 5 (Xinhua) -- Yangtze River Pharmaceutical Group (YRPG) so far has no plans to go public, Xu Jingren, president and managing director of YRPG., said on Tuesday during the 2018 Boao Forum for Entrepreneurs held in south China's Hainan province.
From a small town pharmaceutical workshop to a leading cross-regional pharmaceutical giant, YRPG's 47 years' steady development stood at a mysterious distance from the capital market.
The company has never conducted mergers and acquisitions, nor has it established a joint venture. Since 2009, it has been carrying forward with "zero debt" and no public listing plan.
Still, YRPG managed to generate output value of 70.332 billion yuan in 2017, realizing sales of 70.088 billion yuan, with output, sales as well as profits and taxes all rising by more than 18 percent year on year.
According to the data published by the Ministry of Industry and Information Technology (MIIT), YRPG took the first place in Top 100 enterprises of Chinese pharmaceutical industry in 2010, 2014 and 2015, and has ranked Top one in Chinese chemical pharmaceutical industry for consecutive four years.
YRPG is likely to realize some three to five billion of profits with production and sales likely to reach 80 billon yuan in 2018, predicted Xu.
Public listing is a way of expanding financing channels for enterprises which wish to become bigger and stronger. However, it seems to me not responsible for investors if a company simply goes for capital market out of difficulties, said Xu.
YRPG could be viewed as a participator in China's reform and opening up. The country's reform and opening-up is a bless for YRPG and has made YRPG as it is today, said Xu, noting that the company achieved its first 50 billion yuan sales in 40 years. Next step would be generating 50 billion yuan sales in fives years to reach the goal of 100 billion yuan sales by 2020, according to Xu. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)
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