000538. SZ

Scarce resource is a double-edged sword in the hands of listed companies. 　　Back on the scarcity of raw materials, can ensure stable yields despite drought or excessive rain even became treasurer for the time being, but growing up at the ceiling, would undoubtedly weaken the competitiveness of listed companies, and dramatically reduce the risk of depletion of or scarce resources, should not be overlooked. According to Dong-e e-Jiao (000423) (000423.SZ) Qin Yufeng, President, design of Dong-e e-Jiao-Jiao capacity of 3,000 tons, but due to scarcity of donkey skin, real output is not more than 2000 tons, 2011 is expected to yield about 1560 tons. In fact, this type of renewable natural resources, although it is possible to grow, but the pace of updating their ability to reproduce natural, social and environmental conditionsAnd conditions, if such a level of scarcity of raw materials to the endangered, you have to look for substitutes. Use quotas or expressly prohibited by and with the national supply of wild resources as pharmaceutical raw material, raw material of a large number of switch to substitutes or artificial products manufacturers, sales plummeted and have occurred in trouble, Chongqing, Chongqing during pharmaceutical industry has thousands of years of history of musk paste out of tiger bone market,Segmented Dan 36 kinds of traditional Chinese medicines containing tiger bone died down, bear witness. Ceiling of the scarcity of the other side of the scarcity, even the capacity expansion is not n Guizhou moutai (600,519) (600,519. 　　SH), the "Eleven-Five" during the 2000 tons per year capacity, also began to gradually release this year. ButHigh-grade maotai liquor consumption of a large part of belonging to the Chief star wars the old republic power leveling, although are not price sensitive, frequent price increases remained in short supply, but rapid development and fine wine shade is, middle market without the simultaneous development of the wine, in 2010 of low wine contribution income less than $ 800 million, profit contribution of less than 5%. Is associated with this, Yunnan provinceMedicine (000538) (000538. 　　SZ) make 2011 the first year of strategic transformation, claiming that the correct assessment of own resources and capabilities, strategic positioning of the brand new adjustments, the focus is to focus on creating one of the main products of generic medicine sector, provide a strong follow-up support for company's development. In fact, in order to avoid development squandered, Yunnan baiyaoAs early as 10 years before building their own medicinal materials base in cooperation with farmers, now has two Wuding County, Yunnan province, Wenshan County GAP certified 37 planting bases, achieving upstream control of scarce raw materials resources. Guilin sanjin (002275) (002275. SZ) of sanjin tablets products, is based on Guangxi local CENTELLA raw material as an important ingredient, but publicSecretary when asked to supplementary raised by the SFC on the tender after capacity expansion problem sufficient raw material protection. According to Guilin sanjin prospectus the old republic power leveling, in 2006 alone, the sanjin tablets products CENTELLA 1000 tons of raw materials, agricultural herbicides used and CENTELLA for many years a large number of collecting, yield and quality of CENTELLA asiatica was a declining trend, whileRapid growth and the price is 10-20% per cent a year. To this end, the company intends to establish three gold tablets products CENTELLA industrialization of GAP base of raw materials, to ensure products bulk ingredients on sustainable development and utilization of resources. The project reaches the postpartum, CENTELLA asiatica plant area will reach 10,000 acres, with an annual output of CENTELLA asiatica 1500 tons, so as to further strengthen the leading productsSupply, reduce purchasing costs. Escort to scarcity, donge ejiao also many high profile positions, which took place on November 13 in Jinan "chain management and control of all industries and business model innovation seminar" on the Qin Yufeng again announced that the donge ejiao is now Inner Mongolia, Xinjiang, Liaoning, Gansu, Yunnan and other places of the erection of a new raw material base, would be "Twelve-Five "during the construction of 7 standard donkey base, bringing the total to 20. However, the argument against Dong-e e-Jiao, analysts say, is Dong-e e-Jiao "all thunder and no storm", reason is the shortage of donkey skin many years ago, has been, but its building breeding base move slowly, and is keen to build a class of luxury "medicine moutai", in more than one fieldOpen their product, and the rise of Cordyceps sinensis is a luxury compared to significant price increases in frequency of donkey-hide gelatin to build momentum. "Guise only Dong-e e-Jiao culture base construction of retardation, the objective is to market supply, implementation took the opportunity to price increases. "These people say," Dong-e e-Jiao in August also uses its own capital of 900 million Yuan investment banking wealth management products, supporting large gaugeBreeding base construction of modules without any problems. "Uneven heating in practice, for Guizhou maotai, Dong-e e-Jiao, pientzehuang (600,436) (600,436. 　　SH) several promptingsfrom such as raising prices, both executives, institutional investors, are surprisingly consistent claims there price space. It is worth noting is that thisA few units are institutions without exception were the top holdings, the equity research institutions bullish on so-called investment value, its core content is told in the words of "anti-inflation". 　　These listed company's share price over the past few years, has risen several times or even dozens of times. With this form a delightful contrast is that recently, the Chinese medicine Jiang (600,750) (6,00750.SH) General Manager Zhong Hongguang "treasures of the Cultural Forum of TCM culture promotion meeting in Taihu Lake" period disclosed that to the end of 2012, the company no longer two non-prescription drug product "stomach promoting digestion in the river" and "sarcandrae glabra compound tablets" price. Due to the continued high price of pseudostellaria heterophylla brings significant cost pressures to Jiang the Chinese medicine industry, this year, the Chinese medicine Jiang 721st product Jianwei in aiding digestion and Jiang sarcandrae glabra compound tablets, price does not exceed respectively and 10%, river of the main constituents of pseudostellaria heterophylla Jianwei in aiding digestion, the 2010 annual sales of $ 1.14 billion, representing about Chinese medicine Jiang 80% of pharmaceutical industry income, is the absolute leading product of the company. From 2009 seasonOnwards, pseudostellaria heterophylla origin disaster-affected production, coupled with floating behind all its 22 Yuan/kg price since September of that year started, quickly soaring up to April of this year reached 380 Yuan/kg, 17 times times of skyrocketing, now has fallen sharply dropped to about $ 200 to $ 220 per kilogram, but gains are still almost 10 times over. Was the Crown PrinceShen Jiang the Chinese medicine industry of expensive burden, earnings growth after a decline last year, net profits fell by as much as 25.5% in the first three quarters of this year, the company's gross profit margin of proprietary Chinese medicines are from the cent in 2009, fell to 43.51% in the first half of this year, dependent on a single raw material industry of traditional Chinese medicine Jiang, shares fell immediately after the high costs, which last yearTo 36 dollars per share and participate in private placement at the end of the Chinese funds, e Fund and CITIC Securities (600,030), among others, and big floating losses in full. 　　And once-Grand Prix star strength ST Golden Flower (600080) (600080.SH), but is expected to rely on a single turn over scarce resources. According to the Shanghai Securities research report, by handJin Tiange capsules of tiger bone meal as the main raw material, sales revenue more than $ 50 million in 2010, is expected in the future are likely to sustain more than 30% of growth, will become the ST Golden inflection point hope for the main performance. 　　The first half of this year, ST Jinhua specializing in pharmaceutical industry gross profit margin reached a high of 77.19%. However, due to artificial TigerBone meal is not included in the 2010 edition of the People's Republic of China in the Pharmacopoeia, ST golden flowers have artificial tiger bone meal and spend a large amount of bought Jin Tiange capsule full range of technology and production management, there are uncertainties.