With Wanglaoji Herbal Tea as the major source of its profits, Guangzhou Wanglaoji Pharmaceutical Company realized a sales increase of 40% in the first quarter of 2008.
With this increase in growth the total sales volume of the company is expected to reach CNY900 million to CNY1 billion in 2008.
At its annual general meeting Guangzhou Wanglaoji Pharmaceutical Company discussed the possibility of having Wanglaoji Herbal Tea listed. But Yang Rongming, president of Guangzhou Wanglaoji Pharmaceutical Company, said that the company will not consider it at present.
According to a representative of Guangzhou Wanglaoji Pharmaceutical Company, the initial capacity of the company's rabies vaccine products, which go into production in October 2008, will reach three million and the sales figures will be about CNY400 million, making a 100% net profit and becoming an important growth point of the company.
At the same time, the company's other competitive product, Xiao Ke Pill, has been granted a patent certificate. With this new product, Guangzhou Wanglaoji Pharmaceutical Company is expected to become one of the top producers in China's oral anti-diabetic drug sector in 2008.