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    600998   CNE100000W45

JOINTOWN PHARMACEUTICAL GROUP CO., LTD

(600998)
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Jointown Pharmaceutical : ADB, Jointown Sign EUR30 Million Loan to Expand Pharmaceutical Distribution Network in PRC

01/22/2021 | 09:09am EST

Jointown's fully automated, high volume load capacity storage facility ensures rapid and accurate logistics and distribution of pharmaceutical supplies.

This robot-assisted facility will strengthen resilience to future potential health crises. Photo: Jointown.

Jointown's fully automated, high volume load capacity storage facility ensures rapid and accurate logistics and distribution of pharmaceutical supplies. This robot-assisted facility will strengthen resilience to future potential health crises. Photo: Jointown.

ADB, Jointown Sign EUR30 Million Loan to Expand Pharmaceutical Distribution Network in PRC

The Asian Development Bank (ADB) and Jointown Pharmaceutical Group Co., Ltd. (Jointown) today signed an agreement for a private sector loan of up to EUR30 million ($37 million) to expand pharmaceutical distribution facilities in the People's Republic of China (PRC).

'This financing will help Jointown to expand its distribution capacity of medical supplies and medicines to hospitals and retail pharmacy outlets in underserved areas of the PRC,' said Director General of ADB's Private Sector Operations Department Suzanne Gaboury. 'It will contribute to the PRC's pharmaceutical surge capacity to further strengthen resilience to a future potential pandemic.'

The loan will support the construction and expansion of Jointown facilities in Haikou, Hainan Province; Tangshan, Hebei Province; and Nanjing, Jiangsu Province. These pharmaceutical distribution facilities will include cold chain warehouses for temperature-sensitive pharmaceutical products, including vaccines.

Deutsche Investitions und Entwicklungsgesellschaft mbH (DEG) will cofinance the project with an additional EUR30 million.

'We are very grateful to ADB and DEG for supporting Jointown's effort to strengthen our distribution network,' said Jointown Vice Chairman Liu Zhaonian. 'With the loan facilities, we will be able to reach out to the broader population, including in the second and third-tier cities and rural areas with essential medicines and medical supplies.'

During the COVID-19 outbreak in early 2020, Jointown was designated by the Hubei provincial government to procure and distribute drugs and medical supplies. In February 2020, ADB provided an emergency loan of CNY130 million ($18.6 million) to Jointown to support its efforts to ensure a continued supply of essential medicines and personal protective equipment.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members-49 from the region.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 126 B 19 964 M 19 964 M
Net income 2021 2 841 M 449 M 449 M
Net Debt 2021 2 922 M 461 M 461 M
P/E ratio 2021 8,86x
Yield 2021 3,82%
Capitalization 25 822 M 4 073 M 4 078 M
EV / Sales 2021 0,23x
EV / Sales 2022 0,23x
Nbr of Employees 28 213
Free-Float 36,1%
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Jointown Pharmaceutical Group Co., Ltd Technical Analysis Chart | 600998 | CNE100000W45 | MarketScreener
Technical analysis trends JOINTOWN PHARMACEUTICAL GROUP CO., LTD
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 3
Last Close Price 14,12 CNY
Average target price 17,00 CNY
Spread / Average Target 20,4%
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Managers and Directors
Yi Chang Liu General Manager & Director
Wei He Executive President
Ying Zheng Xu Member-Supervisory Board & Chief Accountant
Xu Min Wen Director
Chang Yun Liu Chairman