Chen Qiyu, Chairman of Fosun Pharma Attended Shanghai 2nd Private Economy Forum

In order to better promote the development of state-owned and private economy, as well as to discuss how to handle the relationship between state-owned and private enterprises in unified view, Shanghai Unified Front Theory Institute, Shanghai Federation of Industry and Commerce, Shanghai People’s Political Consultative Theory Academy and Shanghai Private Economy Academy held Shanghai 2nd Private Economy Forum in Shanghai Academy of Socialism on June 25, 2013. Mr. Chen Qiyu, Chairman of Fosun Pharma, was invited to attend the meeting.

Mr. Chen Qiyu delivered a speech titled Participation in Reconstruction for New Performance at the meeting. In the speech, he stated that, Fosun Pharma is a leading pharmaceutical industry with whole industry chain in China, the business core is drug research and manufacturing, and it has leading market position in drug circulation, medical services, medical diagnosis, medical equipments and other fields.

Fosun Pharma established strategic partnership with China Pharmaceutical Group Corporation in 2003, forming the first brand of distribution of Chinese drugs--Sinopharm Group. Mr. Chen described the cooperation details between Fosun Pharma and Sinopharm Group in his speech.

During the cooperation with Sinopharm Group, Fosun Pharma has invested equity capital of RMB 800 million and provided debt capital of RMB 300 million, so the capital is an important guarantee of rapid development of Sinopharm Group in early stage. Meanwhile, Fosun Pharma assists to improve the legal person management system, support the executives of Sinopharm Group to formulate operation strategies integrated with purchase, logistic and information and to effectively implement, support sink strategy and constant develop sales business, establish effective operation index monitoring system and continuously improve the operation quality, support Sinopharm Group to greatly carry out merger and acquisition strategies to rapidly increase business regions and market share, provide experience and support to improvement of acquisition, project judgment and investment integrated management, optimize team and carry out effective motivation, support it to be listed in Hong Kong in 2009, and support twice financing to constantly develop the capital advantage.

In the cooperation with Fosun Pharma, Sinopharm Group continues to accelerate the industrial consolidation, keeps and maintains the advantageous position as the largest distributor of drugs and health care products and service provider of advanced supply chain in China.