2011 5% reduction in revenue in the first half

Geographical and, traditional Chinese medicine formula particles high growth. ① Weather: 6 of traditional Chinese medicine formula particles pilot enterprises enjoy similar monopoly industry boom time. Market capacity estimated $ 43 billion the old republic power leveling, currently 6 total size is only $ 1.5 billion. Traditional Chinese medicine formula particles autonomous pricing may be avoiding fluctuations in drug costs, stable increase in gross profit margin. ② location: this year the company developed the Tianjin market highlyAbundance, growth for the year 120% no suspense, sales in other provinces to open next year swtor power leveling, growth is expected to reach 55%.　　③ and: compared with the other 5 companies, providing a range of granules of pharmacy services, stronger competitiveness; 300 tonnes of new capacity release next year, performance has exceeded expectations. Xuebijing marketing channel integration is now turning-point. ① Weather: xuebijing indications areSepsis, but can also understand infection, antibiotic management restrictions on antibiotic use, but noted antibiotic injections from traditional Chinese medicine is not subject to control. So the market space is expected to expand. ② location: danhong injection has covered 4,000 hospitals of similar products, of tanreqing injection include 2,500 homes, xuebijing covers only 1400, just 1.$ 500 million, more space; ③ and: xuebijing from the impact of price increases and marketing channel integration, 2011 5% reduction in revenue in the first half, but has now returned to growth inflection points in the third quarter, expected annual growth 8%, 26 million in new capacity production in the first half of next year, lay the foundation of expansion.　　Ming is expected growth in the year after restoring to 20%. Low molecular weight heparin calcium injection recovery fullLee.　　Because heparin sodium raw material price correction, while product ex-factory price hike, low molecular weight heparin calcium injection back into profit this year, because products competitive, not as the company's key product, expect steady growth in the future. Profit forecasts. Expects 2011-2013 annual EPS of $ 0.83/1.12/1.37, PE 34/25/21 x, three major products of the company are in the inflection point of growth or growth rebound next year, a new production release, earnings growth determines, PE 31 times times next year, the target price of 35 dollars for the first time a "buy" rating. (Specific content please see annex)