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Dawnrays Pharmaceutical Holdings Ltd was founded on 8 December 1995 and listed on the Main Board of the Stock Exchange of Hong Kong on 11 July 2003. Dawnrays started their business in bulk medicines. As the margin for that product compresses in 2006, they proceed to moved into manufacturing of system specific finished drugs with the transformation completed in 2011 when the finish drug segment take centre stage.

In 2011, Dawnrays business include the R&D, manufacturing and sales of

    antibiotics intermediates and bulk medicines,

    and other system specific finished drug products.

and their finished drug portfolio includes

    anti-hepatitis drugs

    anti-hypertensive drugs

    anti-allergic drugs


We missed the bulk medicine to system specific to finished drugs transformation in 2011 which was easy pickings. We started following the company in 2013 when they are struggling with new regulation from the Chinese government. Dawnrays subsequently announced a new CEO and we are hoping to see some changes in the business operations to improve profitability. But the new CEO swiftly reigned and the ex CEO/Chairman/Majority shareholder Ms Li Kei Ling retake the realms in 2014.

The current CEO, Mr Chen Shaojun was appointed in 18th April 2016 and had been at the helm since then. Ms. Li Kei Ling was subsequently appointed as an Executive Chairman.

Mr Chen Shaojun joined the sales and marketing department of Dawnrays before rising to area manager in August 2002 and was responsible for developing area market of the Group’s new specific medicines and managing sales business. He was appointed as executive vice president of the Company in December 2014.
Business Model:

It is rare that there is no medical specialist on the board of directors of a pharmaceutical company. Instead, Dawnrays has always approached this business with a quality branding/sales mindset. Instead of talking about their possible next blockbuster drugs, they are perpetually working towards improving the quality of their manufacturing process, getting the approval process for their generic brands and the branding and distribution of their product in China.

Instead of seeing them as a generic drug manufacturer, it would be fairer to view them as a branded generic pharmaceutical company with manufacturing, direct selling and distribution capability throughout China.

The distribution network in China could be understood by their anti-hypertensive drugs. Dawnrays' antihypertensive drugs cover all market tiers at different prices.

    Anneizhen is widely available at drug stores for the use of basic medication.

    Anneiqiang is also a low- cost drug, often sold at mid-end hospitals. Anneixi and

    Anmeiping are more expensive and target patients at high-end hospitals.

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