Pharmaceutical glass packaging continues to be welcomed by the market for its purity, safety, quality and material stability, and occupies an irreplaceable packaging position among small volume injections, freeze-dried powder injections and genetic engineering drugs. China's pharmaceutical packaging annual sales of 15 billion yuan, an annual growth rate of 10%, the growth potential of medicinal glass packaging lies in the high value-added biopharmaceutical bottle market, neutral type I pharmaceutical glass to replace the class III glass, international glass packaging giant Industrial transfer and domestic enterprises participate in international market competition.
Shandong Pharmaceutical Glass is the largest pharmaceutical glass packaging production enterprise in China, with an annual output of 8.7 billion antibiotic bottle molded products and a domestic market share of 79%. In September 2006, the company officially started production of neutral boron-silicate-I glass, becoming the first domestic pharmaceutical glass packaging company that can produce Class I glass in China.
Neutral type I medicinal glass is stable in performance, can effectively protect the chemical properties of the drug, and the broken part of the broken bottle is smooth without fine cracks, and there is no glass debris falling into the liquid, which is far better than the traditional type III glass in China. With the same specifications, the price of type I glass packaging is several dozen times the price of III glass packaging. The successful development of Class I glass enables the company to participate in the international market competition on glass materials and has participated in the global bidding for pharmaceutical glass packaging of Pfizer Pharmaceuticals, becoming a global direct supplier of multinational pharmaceutical companies. The gross profit rate of type I glass molded bottles is as high as 60%, which enables Shandong Yaobo to complete product upgrades and further consolidate its monopoly position in China, thus making its way into high-end markets and expanding into overseas markets.
The antibiotic powder injection accounted for the absolute sales volume in the injection market in China. The company cultivated finely in the field of pharmaceutical glass packaging and formed a strong technical advantage. The market share of the membrane-resistant bottle reached 79%, and the production efficiency was higher than 70% of its counterparts. The interest rate is far higher than the industry average gross margin of more than ten points (in the first half of 2006 brown bottle gross margin has reached 44%, the average gross margin of the industry is about 30%), some product sales price is close to the counterparty cost price, the company relies entirely on technical advantages to win Take profits.
In September 2006, Type I glass molded bottles have already begun to be sold. In 2007, the company's existing capacity of 60 million Type I glass molded bottles was fully utilized, which resulted in a significant increase in the income of Type I bio-bottles, which is the main factor for future company profits. growth point. At present, the domestic market has a demand of about 300 million for type I bio-engineered molded bottles, and the foreign market capacity is about 4 to 5 billion. The production capacity of Shandong Pharmaceutical Glass is far from meeting the market demand, so there are plans to further expand production capacity.
The company's production capacity is limited, and investment in fixed assets has been continuously implemented in the past two years. The construction of brown bottles and type I bio-bottle production lines has mainly taken place. At the same time, the molding bottle production line has gradually transferred to Baotou Kangrui.
Due to the availability of local coal and soda ash in Baotou and the 15% tax concession, Baotou’s subsidiary Kangyu’s strategic positioning is a company’s Class III glass mold resistant bottle production base. The coal price in Baotou is only RMB 200/ton (Company headquarters 506 yuan/ton) and the electricity price is RMB 0.40/degree (company headquarters 0.57 yuan/degree). We expect the long-term gross profit margin may rise to 45-46 after the anti-bottle transfer across the board. %.
In August 2006, the company plans to issue additional 45 million A shares and raise 300 million yuan of funds for the expansion of high-end product capacity. The specific project is to build high-grade brown bottles and biologics packaging projects, which are mainly used for overseas market sales. After reaching full production, they can annually produce 414 million high-grade brown bottles, 68 million high-grade pre-filled syringes, and 34 million bottle-type bottles. Up to 34 million bottles of high-grade biological preparations were controlled, and an annual net profit of 86.4 million yuan was added.
China's high-end pharmaceutical glass packaging market is still relatively small, Schott has already deployed production bases in China, Saint Gobain also turned its attention to China, the future in the pharmaceutical glass packaging high-end market, Shandong Pharmaceutical Glass may face fierce competition from multinational giants.
Shandong Pharmaceutical Glass is the largest pharmaceutical glass packaging production enterprise in China, with an annual output of 8.7 billion antibiotic bottle molded products and a domestic market share of 79%. In September 2006, the company officially started production of neutral boron-silicate-I glass, becoming the first domestic pharmaceutical glass packaging company that can produce Class I glass in China.
Neutral type I medicinal glass is stable in performance, can effectively protect the chemical properties of the drug, and the broken part of the broken bottle is smooth without fine cracks, and there is no glass debris falling into the liquid, which is far better than the traditional type III glass in China. With the same specifications, the price of type I glass packaging is several dozen times the price of III glass packaging. The successful development of Class I glass enables the company to participate in the international market competition on glass materials and has participated in the global bidding for pharmaceutical glass packaging of Pfizer Pharmaceuticals, becoming a global direct supplier of multinational pharmaceutical companies. The gross profit rate of type I glass molded bottles is as high as 60%, which enables Shandong Yaobo to complete product upgrades and further consolidate its monopoly position in China, thus making its way into high-end markets and expanding into overseas markets.
The antibiotic powder injection accounted for the absolute sales volume in the injection market in China. The company cultivated finely in the field of pharmaceutical glass packaging and formed a strong technical advantage. The market share of the membrane-resistant bottle reached 79%, and the production efficiency was higher than 70% of its counterparts. The interest rate is far higher than the industry average gross margin of more than ten points (in the first half of 2006 brown bottle gross margin has reached 44%, the average gross margin of the industry is about 30%), some product sales price is close to the counterparty cost price, the company relies entirely on technical advantages to win Take profits.
In September 2006, Type I glass molded bottles have already begun to be sold. In 2007, the company's existing capacity of 60 million Type I glass molded bottles was fully utilized, which resulted in a significant increase in the income of Type I bio-bottles, which is the main factor for future company profits. growth point. At present, the domestic market has a demand of about 300 million for type I bio-engineered molded bottles, and the foreign market capacity is about 4 to 5 billion. The production capacity of Shandong Pharmaceutical Glass is far from meeting the market demand, so there are plans to further expand production capacity.
The company's production capacity is limited, and investment in fixed assets has been continuously implemented in the past two years. The construction of brown bottles and type I bio-bottle production lines has mainly taken place. At the same time, the molding bottle production line has gradually transferred to Baotou Kangrui.
Due to the availability of local coal and soda ash in Baotou and the 15% tax concession, Baotou’s subsidiary Kangyu’s strategic positioning is a company’s Class III glass mold resistant bottle production base. The coal price in Baotou is only RMB 200/ton (Company headquarters 506 yuan/ton) and the electricity price is RMB 0.40/degree (company headquarters 0.57 yuan/degree). We expect the long-term gross profit margin may rise to 45-46 after the anti-bottle transfer across the board. %.
In August 2006, the company plans to issue additional 45 million A shares and raise 300 million yuan of funds for the expansion of high-end product capacity. The specific project is to build high-grade brown bottles and biologics packaging projects, which are mainly used for overseas market sales. After reaching full production, they can annually produce 414 million high-grade brown bottles, 68 million high-grade pre-filled syringes, and 34 million bottle-type bottles. Up to 34 million bottles of high-grade biological preparations were controlled, and an annual net profit of 86.4 million yuan was added.
China's high-end pharmaceutical glass packaging market is still relatively small, Schott has already deployed production bases in China, Saint Gobain also turned its attention to China, the future in the pharmaceutical glass packaging high-end market, Shandong Pharmaceutical Glass may face fierce competition from multinational giants.
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