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      Economic Performance Meeting of the 1st Half Year Held

      2009-08-14

      On August 10th, SINOPHARM Foreign Trade held the Economic Performance Meeting of the First Half Year. SINOPHARM GROUP General Manager, SINOPHARM Foreign Trade Board Chairman attended the meeting, as well as all staff from the headquarter, the distribution company and senior management of Guangdong South Pharmaceutical Foreign Trade co. The Meeting was presided over by Mr. Hui Youquan, Vice President of the company. Mr. Yan Bing, (President), Mr. Shao Gang (VP), Ms. Han Xiao (CFO) and GMs of three Divisions delivered speeches respectively.

       
      Mr. Shao delivered a briefing of SINOPHARM Group’s Economic Performance Meeting of the First Half Year. Mr. Yan gave a report on the work of the first half year titled going out and boosting corporate industrialization to build the top brand of China’s pharmaceutical import and export business. In his report, Mr. Yan stressed that faced with global financial crisis and fierce market competition, SFT still managed to exceed all the operating targets assigned by the Group by deepening the business integration, improving management and risk control, enhancing the core competitiveness. On analyzing the operational features of business in the first half year, Mr. Yan pointed out the existing problems in the corporate management, while put forth the working plan for the 2nd half year.
       
      Ms Han Xiao gave an detailed analysis of the corporate financial status in the first half year and put forward some suggestions from the perspective of financial management: to enhance risk control and standardize business procedures to boost the operational efficiency, and ensure sustainable growth in business; to unify accounting system in the company to reduce management costs and ensure business value. The analysis was followed by reports presented by GMs of the three Divisions.
       
      SINOPHARM GROUP General Manager, SINOPHARM Foreign Trade Board Chairman delivered a speech. He highly appraised SFT’s achievements in the first half year and proposed strategic thinking for the future development of the company. He stressed that as the undertaker of the Group’s mission to Going Out, SFT should focus on its core competitiveness development. Based on its import and export business, the company should tap both domestic and foreign markets while take full use of the advantages of the former, so as to step into the international market. Mr. Chairman stressed on the importance of risk control in particular.
       

      In conclusion, Mr. Chairman expressed his strong confidence in the future development of SINOPHARM Foreign Trade and stated that the Group will give full support to the company.

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