Qizheng Tibetan Medicine（002287）Review of annual and first quarter reports: Stable performance growth, and profitability improvement in divesting the herbal medicine business is imminent

Summary of research report:
1. Event:
Company Release2016Annual report.2016Annual revenue achieved by the company9.68100 million yuan, year-on-year decrease2.65%; Realize net profit attributable to shareholders of the listed company2.90100 million yuan, year-on-year growth9.42%; Realize deduction of non attributable net profit2.23100 million yuan, year-on-year decrease1.30%; achieveEPS 0.7139Yuan, year-on-year growth9.41%。10send3.9。
2. Our analysis and judgment:
（1） The overall stable growth of the pharmaceutical sector is expected to accelerate in the future
（2） Peel off medicinal materials and focus on drugs to improve the company's profitability
（3） Continuously enriching product lines around the "two wings" and exploring new drug markets

From Li Pingzhu's team at Galaxy Securities