↑Sales of local subsidiaries in Japan & Southeast Asia

Despite COVID-19 situation

↓Sales of Beijing Hanmi and Yangzhou Ilyang

While the earnings of subsidiaries in China and North America, which were relatively affected by COVID-19, decreased significantly, the performance of local subsidiaries in Japan and Southeast Asia increased relatively.

 

◆↓20% sales of Beijing Hanmi / ↓13%, Ilyang / ↓12%, China According to the Financial Supervisory Service on the 23rd, the total sales of 24 local subsidiaries in China last year was ₩453.9 billion won.

 

It decreased by 13% from ↓519.7 billion in 2019.

 

During the same period, net income decreased by 17% from ₩58.8 billion to ₩48.8 billion.

 

It is an analysis that it was directly affected by COVID-19 crisis.

 

China has implemented a strong control policy in the early days of COVID-19 outbreak.

 

As a result, the earnings of most Chinese subsidiaries in the first half of the year fell sharply.

 

From left: Beijing Hanmi Pharmaceutical, Yangju Ilyang Pharmaceutical, Green Cross Biological Products Co., Ltd.

Beijing Hanmi Pharmaceutical, a Chinese subsidiary of Hanmi Pharmaceutical, had sales of ₩254.4 billion in 2019, but fell 20% to ₩203.5 billion last year.

 

It was ₩92.8 billion in the first half and ₩110.7 billion in the second half.

 

In the case of 2019, the results were equal at ₩126.7 billion and ₩127.8 billion, respectively, in the first and second half of the year.

 

In the case of Ilyang Pharmaceutical, the total sales of Yangzhou Ilyang Pharm and Tonghua Ilyang Health Products decreased by 13% from ₩140 billion to ₩132.3 billion.

 

Similarly, it is observed that it was sluggish in the first half.

 

However, their net profit was found to have improved from ₩18.6 billion to ₩19.8 billion.

 

GC Pharma's Green Cross China and Anhui Gerinker Pharmaceutical Sales Co., Ltd.

 

decreased 12% from ₩64.9 billion to ₩57.1 billion over the same period.

 

Net income decreased by 18% from ₩6.3 billion to ₩5.2 billion.

 

Kwangdong Pharmaceutical has established a total of 4 corporations in Yanbian, Yeondae, and Suzhou.

 

The total sales of the four corporations decreased by 9% from ₩39.6 billion to ₩36 billion.

 

Kwangdong Pharmaceutical also disposed of Kwangdong Industrial Co., Ltd.

 

located in Yanbian last year.

 

◆GC Pharma's sales decline by 7% until immediately before the sale of its North American subsidiary It is analyzed that the North American subsidiaries centered on GC Pharma's GCNA (GC North America) were also affected by COVID-19.

 

GC Pharma sold its North American subsidiary to Grifols, a Spanish blood plasma-based product company, in last October.

 

For this reason, as of the end of last year in the business report, the sales of the North American subsidiary were recorded as '0'.

 

However, until 3Q, overall sales and net profit for the year are expected to decline compared to the previous year.

 

Green Cross' total sales of its North American subsidiaries in the third quarter of last year were ₩39.9 billion, down 7% from ₩42.6 billion in 2019.

 

Net loss for the period increased from ₩31.6 billion to ₩41.4 billion.

 

Huons newly established a local subsidiary,Huons USA last year.

 

The sales in the first year of establishment were ₩7.8 billion.

 

◆Daewoong's Japanese and Southeast Asian subsidiaries increased their performance despite COVID-19 outbreak In Japan, Daewoong Pharmaceutical and Handok respectively established local subsidiaries.

 

Daewoong Pharmaceutical's Japanese subsidiary increased its sales from ₩13.8 billion in 2019 to ₩19.5 billion last year.

 

Handok's Japanese subsidiary decreased its sales from ₩7.6 billion to ₩6.8 billion over the same period.

 

In Southeast Asia, it is confirmed that Daewoong Pharmaceutical, Chong Kun Dang, JW Pharma, and Celltrion have established 14 local subsidiaries.

 

Their total sales increased 54% from ₩23.1 billion in 2019 to ₩35.5 billion last year.

 

In particular, Daewoong Pharmaceutical made ₩20.1 billion in sales in Indonesia, the Philippines, and Thailand.

 

It increased by 7% compared to ₩18.7 billion in 2019.

 

Daewoong Pharmaceutical's local subsidiaries in Southeast Asia suffered a net loss of ₩3.4 billion in 2019, but it recorded a net profit of 3.2 billion won last year.