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Yunnan Baiyao Group is poised to start out

By : cntv | Published: 2011-December-5

On October 26, He Haiming, Deputy Director of CCTV Advertisement Operaing and Management Center and others arrived at Yunnan Baiyao Industrial District in Chenggong New Area, Kunming. Despite its reputation, Yunnan Baiyao Group did not go smoothly until 1999 when Wang Minghui was transferred from Kunming Pharmaceutical Factory to the Group. The 100-year-old brand at that time was in deficit. But ten years later, good performance was achieved by Wang: proceeds of business increased by 24.6 times and profits 13.6 times, both of which ranked the first in China. During this period, the share price of the Group rose by 17 times.

“Innovation is the trump of success.” – Wang Minghui

When he took the position of the Group’s Board Chairman in 1999, Wang Minghui made the development strategy of “keeping main products and developing supplementary ones”. Thus, Yunnan Baiyao Group expanded in 2000 its single product to multiple ones and from oral administration to external use. As its products were increasingly plentiful in the drug field, it further promoted the stickers whose core value surpassed band-aid and once impacted the latter’s sales. Since 2004, the Group has maintained a high growth for six consecutive years thanks to a critical decision of Wang: apply the hemostasis of its products into daily necessities, i.e., the Yunnan Baiyao toothpaste, and take the high-end market of toothpaste. Now the sales volume of toothpaste is the largest among the seven products of over 100 million sales, taking up nearly half of the sales of entire product series. Hu Jiqiang, Board Chairman of CONBA commented: “It’s successful because it adopts reasonable extension of the brand’s core value.”

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