Tigermed Releases 2019 Annual Report with Solid Financial Results
April 16, 2020
April 16, 2020 — Hangzhou Tigermed Consulting Co., Ltd (stock code: 300347), a contract research organization (CRO) dedicated to providing full comprehensive services and solutions for clinical research and development, released its 2019 Annual Report.
The annual report shows that Tigermed continued to maintain a solid growth momentum in both revenue and net profit. During the reporting period, the company achieved operating income of CNY2,803.3 million, a 21.85% increase compared with same period last year; net profit attributable to owners of the parent company of CNY841.6 million, a 78.24% increase compared with same period last year.
Besides solid revenue growth, Tigermed fulfilled its commitment of “Serve healthcare partners through innovation, advance human health through excellence”, provided full comprehensive clinical research services and solutions for healthcare industry. In 2019, Tigermed and its subsidiaries supported several market launches of innovative medical product like first domestic biologically similar drug “Hanlikang” and first domestic artificial heart “Yongrenxin”, which have important clinical value and patient benefits.
At the same time, Tigermed is constantly improving its service capabilities and deepening its global presence. Successful completion of the spinoff of Frontage Holdings and its listing on the Main Board of the Hong Kong Stock Exchange; establishment of a joint venture with Accerise Japan; purchase of part of the shares of EPS Holdings; GCP certification of Compaq hospital, which is invested by the company; acquisition of BRI Laboratories and RMI Laboratories by Frontage Holdings.
In terms of industry cooperation, Tigermed has reached cooperation with Shenzhen Pingshan District, Wuxi Hi-Tech Zone, Korea National Clinical Trial Support Foundation, AstraZeneca China and other partners to accelerate pharmaceutical and healthcare research & development, and promote scientific and technological innovation.
Mrs. Xiaochun Cao, President of Tigermed, said, “In 2019, Tigermed constantly adhered our development strategy ‘Global Excellence, China Expertise’, continuously promoted organizational change, strengthened group management to adapt company development, improved our globalization layout, optimized our operation management process, promoted organizational capacity and branding culture construction, formed strong synergies among all business segments, enhanced new drug development service capability in all aspects, built collaborations with more and more customers, continuously supported the successful launch of high-quality innovative drugs to meet clinical needs and bring hope to patients.”
Regarding the new coronavirus pneumonia (COVID-19) epidemic, Mrs. Xiaochun Cao said, “The new coronavirus pneumonia (COVID-19) epidemic is a test for the whole industry and the whole society. Thanks to our reasonable business layout and active response, the impact of epidemic on our business is within controllable range, and we are confident that we can overcome the difficulties and pressure brought by the epidemic, the company’s performance is expected to maintain a steady growth. We will also continue to upholding the philosophy of striving for customers’ success, promoting employees’ growth, and positively rewarding shareholders, insisting our standard of “Patient Centric, Operational Excellence, Quality Priority, Continuous Innovation”, providing comprehensive and integrated services, enhancing clinical R&D efficiency, enabling more high-quality and innovative pharmaceutical product to market. And together with our employees, customers and partners, we will overcome challenges to meet patients’ needs and make greater contributions to safeguarding human health and public health safety.”
Note: The above information is for reference only, for detailed information please refer to the disclosure document issued by Tigermed on Shenzhen Stock Exchange.
Hangzhou Tigermed Consulting Co., Ltd（stock code: 300347）is a leading Contract Research Organization (CRO) in China dedicated to provide full comprehensive services and solutions for clinical research and development. Since inception in 2004, Tigermed has always embraced state-of-the-art technologies and has engaged in partnerships to accelerate medical product development with costs efficiency and high quality.
Headquartered in Hangzhou, Tigermed operates 46 subsidiaries and 123 offices across China, and 13 overseas offices in US, Switzerland, Korea, Australia, Japan, Malaysia, Singapore , India, Canada and Romania with over 5,000 full time employees. Tigermed has serviced more than 650 local and global clients in the conduct of over 2,000 clinical trials. Tigermed is recognized as “The Innovative CRO” in China, owning to our involvement of over 310 innovative drug projects.