- Sinopharm's revenue and net income grew by +7.3% and +14.9% YoY in FY 2020 which was better than expected, but the company's operating cash flow decreased by -40.6% last year.
- The recent fourth round of China's centralized drug procurement program has similar negative trends as the previous third round, with drug prices falling by more than -50%.
- Sinopharm Group is valued by the market at 6.3 times consensus forward FY 2021 P/E, and it boasts a consensus forward FY 2021 dividend yield of 4.6%.
For further details see:
Sinopharm: 2020 Results And Recent Centralized Drug Procurement Draw Attention