Tianjing Zhong Xin Pharma

Tianjing Zhong Xin Pharma: positive profit guidance. Expects to report a strong profit growth of 40-60% yoy for 3Q12 / 9M12. This is due to, i) gain on disposal of the co’s subsidiary Tainjin Central Pharma, ii) increase in return on invmt from associated cos, Sino-American Tianjin Smithkline & French Lab, and iii) increase in operating profits from the main business. Deutsche today upgraded its peer, China Shineway to a Buy with raised TP of HK$15.50 (from HK$13.00), citing strong recovery of the Traditional Chinese Medicine business.