Cost of sales fell 1% to RMB914 million from RMB926.1 million in 1Q17, while marketing & distribution costs grew 30% to RMB497 million due to an increase in sales promotion expenses.
The gross profit margin grew to 43.41% from 37.5% a year ago.
As at end-Mar, cash and cash equivalents stood at RMB 1.2 billion, 20% higher than that of end-Dec 2017.
In its outlook, the group says its development has entered a critical phase with both opportunities and challenges as it continues towards its mission of developing traditional Chinese medicine, while achieving the company’s strategy through good work and innovation in a progressive manner.
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Shares in Tianjin Zhongxin closed 2.54% higher at US$1.01 on Friday.
