Major traditional Chinese medicine maker first half profit up 45.2%

Jiangxi Jiangzhong Pharmaceutical, one of China's major traditional Chinese medicine (TCM) makers, saw its net profit soar 45.2 percent year on year in the first half of 2015.

Net profit attributable to the company's shareholders stood at 139.25 million yuan (22.75 million U.S. dollars), according to the semi-annual report it filed to the Shanghai Stock Exchange last week.

Its earnings per share rose 48.39 percent to 0.46 yuan, the report said.

However, its total operating revenues declined 5.09 percent to reach 1.32 billion yuan in the first six months. The company attributed the loss mainly to the promotion of new products in the market which needs time to be developed.

The company continues to focus on producing TCM in 2015, with non-prescription drugs and healthcare products being its key development direction, the report said.

Earlier in May, China's State Council published a five-year plan to promote TCM, aiming to increase the presence of TCM in healthcare and make TCM products and services more competitive abroad.

Private companies will be encouraged to invest in TCM services, and favorable policies will be rolled out to support development, the plan said.

Over the 2015-2020 period, medical reform measures will continue, people's health will be improved, which will help transform the economic development mode, according to the State Council.