Eagle Health believes it remains on track to deliver accelerated growth in revenues and earnings in 2018 and 2019. The company expects to release its unaudited financial results for the half year to June 30 on or about August 31.
Eagle Health’s recent meeting with key board members and staff from cornerstone investor, AMKA, and Omni Innovation, the owner of the Hutang-One diabetes product, at the company’s head office and manufacturing plant in Xiamen, China, reviewed the company’s progress and future plans.
Eagle Health’s Hutang-One diabetes product is currently sold through four direct Eagle Health education and experience stores in Xiamen. The company remains on track to open another three stores this month.
Plans to roll out 100 direct stores along the affluent east coast of China, as announced May 31, are on track and are expected to reach approximately 570 million consumers. These stores will sell Hutang One, traditional Chinese medicine products and a selected range of Australian-sourced health products.
To complement the direct channel distribution of Eagle Health products, the company is developing an online platform that it says will connect the consumer, patients and family members to digital diagnostics on vital health parameters.
“Chinese consumers are changing the way they shop and buy health products,” Eagle Health CEO Zhang Mingwang said. “Our education and experience stores show us that we can reach a very wide population and provide greater access to health education, product trial and on-going repeat purchase.”
This direct channel approach provides greater control over five key elements of Eagle Health’s accelerated growth business plan: drive greater loyalty for Eagle products, penetrate deeper into high population areas, improve gross margin, ensure long-term sustained growth by sourcing business from multiple channels, and provide consumer health education to support China’s Central Government National Health Strategy.