Recently, Sinopharm Holdings issued an announcement on changes in the composition of the board committee, and Zhao Bingxiang was appointed as a non-executive director of Sinopharm.
According to the process at the end of August, "the board of directors of Sinopharm has decided to elect Zhao Bingxiang as chairman of the board of directors. This appointment must be approved by shareholders at the shareholders' meeting before the appointment of its non-executive director can take effect." Zhao Bingxiang's appointment as a non-executive director of Sinopharm also means that His appointment as chairman of the state-controlled company takes effect.

At present, Sinopharm's official website and announcement information have been updated, and Zhao Bingxiang serves as the chairman, non-executive director and party committee secretary of Sinopharm Holdings.

It is reported that Zhao Bingxiang has worked in the China Resources department for a long time. He has served as a senior researcher at the China Resources Sanjiu R&D Center, the general manager of China Resources Sanjiu (Ya'an) Pharmaceuticals, the chairman and general manager of China Resources Zizhu Pharmaceuticals, the vice president of China Resources Pharmaceuticals, and the director of China Resources Sanjiu. , president, etc. In the academic education world, Zhao Bingxiang also serves as a professor and doctoral supervisor at Shenyang Pharmaceutical University and a professor at Zhejiang University School of Medicine.
In mid-March this year, Zhao Bingxiang resigned from his position as director and president of China Resources Sanjiu due to job changes. After his resignation, he no longer held any position in China Resources Sanjiu. In the same month, Zhao Bingxiang joined China Pharmaceutical Group and served as director and general manager of China Pharmaceutical Group.
Until the end of August this year, Yu Qingming, the former chairman of Sinopharm, resigned due to work needs. On the day the resignation took effect, the board of directors of Sinopharm decided to elect Zhao Bingxiang as the new chairman. At that time, Liu Yong, the former president of Sinopharm, also resigned along with the former chairman, and the position was taken over by Lian Wanyong, the former president of Shanghai Modern Pharmaceuticals.

Before joining Shanghai Modern Pharmaceutical in September 2022, Lian Wanyong already had a long working experience in the "Sinopharm Department" and served successively as deputy director of the Financial Management Department, director of the Investment Management Department, deputy director of the Policy Research Office of Sinopharm, and Sinopharm. He is the vice president of the holding company and has concurrently served as a director of Sinopharm Accord and Sinopharm Pharmaceuticals.

In the first half of this year, State Control's performance faced certain growth pressure.
Its total revenue during the reporting period was 294.727 billion yuan, a year-on-year decrease of 2.07%. In terms of sectors, the income of Sinopharm's equipment distribution business and pharmaceutical retail business both declined in the first half of the year, with a year-on-year decrease of 7.08% and 6.43% respectively. The pharmaceutical distribution business, which accounted for more than 70% of the revenue, achieved a slight increase in revenue, with a year-on-year increase. 0.47%.

Due to the decline in revenue and gross profit margin, although state-controlled costs and expenses were controlled during the reporting period, its net profit attributable to its parent company still fell 9.76% year-on-year, with net profit attributable to its parent company in the first half of the year reaching 3.704 billion yuan. At the same time, Sinopharm's accounts receivable and bills (hereinafter referred to as "accounts receivable") in the first half of this year increased by 56.56 billion yuan compared with the beginning of the period, an increase of more than 30%. As of the end of the reporting period, Sinopharm's accounts receivable were 240.996 billion yuan. Yuan, accounting for 81.7% of current revenue and 56% of total assets.

It is reported that the state-controlled pharmaceutical and device distribution business is generally sold with a credit period of 30 days to 210 days. The retail business of pharmaceutical chain stores is usually conducted with cash, debit card or credit card. Among its 240.996 billion yuan in accounts receivable, there are Nearly 90% of the accounts are aged less than one year.

Sinopharm Accord, a state-controlled subsidiary, stated on the investor platform in June this year that in view of the external environment and other factors, the issue of accounts receivable cycle is a common situation in the pharmaceutical distribution industry, and it has been focusing on procurement, financing, payment and other aspects. Strengthen the management of accounts receivable to maintain sound business operations.

In the second half of the year, the pharmaceutical distribution industry will still face challenges brought about by transformation and supervision. Sinopharm stated in its semi-annual report that it will further enrich the category structure in the pharmaceutical distribution sector, actively follow up on the expansion of the volume-based procurement policy, and obtain more authorization and distribution shares of nationally discussed varieties and innovative pharmaceutical products; at the same time, it will further strengthen Covering grassroots channels, focusing on end customers such as medical consortiums and medical communities, and strengthening grassroots medical and health services.

For the equipment distribution sector, Sinopharm also plans to actively respond to new policy requirements such as the expansion of centralized procurement and "DRGs/DIP", and undertake bulk purchase and distribution projects for consumables; it will also accelerate professional integration and develop SPD services and centralized distribution projects.
In terms of pharmaceutical retail, Sinopharm emphasizes tapping the potential of professional pharmacy services, actively accepting outflow prescriptions from hospitals, accelerating the construction of emerging business formats such as patient follow-up centers, rare disease centers, and chronic disease center pharmacies, and improving comprehensive service capabilities such as professional pharmaceutical services and health management. , accelerating the construction of online and offline integrated capabilities, etc.
After the new leadership team takes over the work, it remains to be verified whether Sinopharm can achieve a performance recovery in the second half of the year.

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