ChinaNationalAccordMedicinesCorporationLtd.
FirstQuarterlyReport2019
April2019
SectionI.ImportantNotes
BoardofDirectorsandtheSupervisoryCommitteeofChinaNationalAccordMedicinesCorporationLtd.(hereinafterreferredtoastheCompany)anditsdirectors,supervisorsandseniorexecutivesshouldguaranteethereality,accuracyandcompletionofthequarterlyreport,therearenoanyfictitiousstatements,misleadingstatementsorimportantomissionscarriedinthisreport,andshalltakelegalresponsibilities,individualand/orjoint.OtherdirectorsattendingtheMeetingforQuarterlyReportdeliberationexceptforthefollowed
| Nameofdirectorabsent | Titleforabsentdirector | Reasonsforabsent | Attorney |
| LiZhiming | director | Officialbusiness | LiuYong |
| JiangXiuchang | director | Officialbusiness | LiuYong |
LinZhaoxiongpersoninchargeoftheCompany,WeiPingxiao,personinchargerofaccountingworksandWangYing,personinchargerofaccountingorgan(accountingofficer)herebyconfirmthattheFinancialReportofthisQuarterlyReportisauthentic,accurateandcomplete.
SectionII.Companyprofile
I.Mainaccountingdataandfinancialindexes
Whetherithasretroactiveadjustmentorre-statementonpreviousaccountingdata□Yes√No
| CurrentPeriod | Sameperiodoflastyear | Changesofthisperiodoversameperiodoflastyear | |
| Operatingincome(RMB) | 11,879,309,078.82 | 10,256,566,731.51 | 15.82% |
| Netprofitattributabletoshareholdersofthelistedcompany(RMB) | 300,149,012.08 | 292,731,685.33 | 2.53% |
| Netprofitattributabletoshareholdersofthelistedcompanyafterdeductingnon-recurringgainsandlosses(RMB) | 297,420,355.99 | 284,982,162.39 | 4.36% |
| Netcashflowarisingfromoperatingactivities(RMB) | -759,367,352.29 | -864,716,289.96 | 12.18% |
| Basicearningspershare(RMB/Share) | 0.70 | 0.68 | 2.94% |
| Dilutedearningspershare(RMB/Share) | 0.70 | 0.68 | 2.94% |
| WeightedaverageROE | 2.55% | 3.07% | -0.52% |
| Attheendofthereportingperiod | Attheendoflastyear | Changesofthisperiod-endoversameperiod-endoflastyear | |
| Totalassets(RMB) | 30,855,284,546.74 | 28,930,300,519.97 | 6.65% |
| Netassetsattributabletoshareholderoflistedcompany(RMB) | 11,918,581,615.36 | 11,618,432,603.28 | 2.58% |
Itemsofnon-recurringgainsandlosses√Applicable□Notapplicable
InRMB
| Item | Amountfromyear-begintoperiod-end | Note |
| Gains/lossesfromthedisposalofnon-currentasset(includingthewrite-offthataccruedforimpairmentofassets) | -24,914.66 | FixedassetsdisposalfromsubsidiaryGuodaDrugstoreandSinopharmHoldingGuangxiCompany. |
| Governmentalsubsidyreckonedintocurrentgains/losses(notincludingthesubsidyenjoyedinquotaorrationaccordingtonationalstandards,whicharecloselyrelevanttoenterprise’sbusiness) | 1,897,634.72 | Mainlyduetothevariousspecialgrantsreceivedinthecurrentperiod. |
| Reversalofimpairmentreserveforaccountreceivablewithseparateimpairmenttesting | 479,568.94 | Theimpairmentofaccountreceivableseparatelyaccrualinpreviousyearshavebeentakenbackinthecurrentperiod. |
| Gainsandlossesonforeignentrustedloans | 875,924.93 | ThegainsobtainedfromofferingentrustloanstoChinaNationalZhijun(Suzhou). |
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | 770,827.15 | |
| Less:impactonincometax | 887,466.28 | |
| Impactonminorityshareholders’equity(post-tax) | 382,918.71 | |
| Total | 2,728,656.09 | -- |
Concerningtheextraordinaryprofit(gain)/lossdefinedbyQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,andtheitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,explainreasons□Applicable√NotapplicableInreportingperiod,theCompanyhasnoparticularaboutitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss
II.Totalnumberofshareholdersattheendofthisreportperiodandtoptenshareholders
1.Totalnumberofcommonshareholdersattheendofthisreportperiodandtoptencommonshareholders
Inshares
| Totalcommonshareholdersattheendofreportperiod | 17,550 | Totalpreferenceshareholderswithvotingrightsrecoveredatendofreportingperiod(ifapplicable) | 0 | |||||
| Toptenshareholders | ||||||||
| Shareholder’sname | Natureofshareholder | Proportionofsharesheld | Amountofsharesheld | Amountofrestrictedsharesheld | Numberofsharepledged/frozen | |||
| Stateofshare | Amount | |||||||
| SinopharmGroupCo.,Ltd. | State-ownedlegalperson | 56.06% | 239,999,991 | 55,057,700 | ||||
| HongKongSecuritiesClearingCompanyLtd | ForeignCorporation | 3.39% | 14,512,583 | 0 | ||||
| HTHK/CMG | Foreign | 2.68% | 11,469,644 | 0 | ||||
| FSGUFP-CMGFIRSTSTATECHINAGROWTHFD | Corporation | |||||
| ChinaUnitedPropertyInsuranceCompanyLimited-Traditionalinsuranceproducts | Domesticnonstate-ownedlegalperson | 1.73% | 7,400,422 | 0 | ||
| ChinaNationalPharmaceuticalForeignTradeCorporation | State-ownedlegalperson | 1.24% | 5,323,043 | 5,323,043 | ||
| #BeijingHaoqingFortuneInvestmentManagementCo.,Ltd.–HaoqingValueStableNo.8InvestmentFund | Domesticnonstate-ownedlegalperson | 0.96% | 4,118,716 | |||
| GUOTAIJUNANSECURITIES(HONGKONG)LIMITED | ForeignCorporation | 0.90% | 3,835,608 | |||
| CentralHuijinInvestmentLtd. | State-ownedlegalperson | 0.89% | 3,804,400 | |||
| Fidelity(HongKong)Co.,Ltd.-customercapital | ForeignCorporation | 0.87% | 3,743,017 | |||
| BankofChina-HarvestShanghai-H.K.-ShenzhenSelectedSecuritiesInvestmentFund | Domesticnonstate-ownedlegalperson | 0.83% | 3,554,700 | |||
| Toptenshareholderswithunrestrictedsharesheld | ||||||
| Shareholder’sname | Amountofunrestrictedsharesheld | Typeofshares | ||||
| Type | Amount | |||||
| SinopharmGroupCo.,Ltd. | 184,942,291 | RMBordinaryshares | 184,942,291 | |||
| HongKongSecuritiesClearingCompanyLtd | 14,512,583 | RMBordinaryshares | 14,512,583 |
| HTHK/CMGFSGUFP-CMGFIRSTSTATECHINAGROWTHFD | 11,469,644 | Domesticlistedforeignshares | 11,469,644 |
| ChinaUnitedPropertyInsuranceCompanyLimited-Traditionalinsuranceproducts | 7,400,422 | RMBordinaryshares | 7,400,422 |
| #BeijingHaoqingFortuneInvestmentManagementCo.,Ltd.–HaoqingValueStableNo.8InvestmentFund | 4,118,716 | RMBordinaryshares | 4,118,716 |
| GUOTAIJUNANSECURITIES(HONGKONG)LIMITED | 3,835,608 | Domesticlistedforeignshares | 3,835,608 |
| CentralHuijinInvestmentLtd. | 3,804,400 | RMBordinaryshares | 3,804,400 |
| Fidelity(HongKong)Co.,Ltd.-customercapital | 3,743,017 | RMBordinaryshares | 3,743,017 |
| BankofChina-HarvestShanghai-H.K.-ShenzhenSelectedSecuritiesInvestmentFund | 3,554,700 | RMBordinaryshares | 3,554,700 |
| Basicendowmentinsurancefund-1003group | 3,359,356 | RMBordinaryshares | 3,359,356 |
| Explanationonassociatedrelationshipamongtheaforesaidshareholders | ItisunknownthatthereexistsnoassociatedrelationshiporbelongstotheconsistentpersonactinginconcertamongtheothertradableshareholdersregulatedbytheManagementMeasureofInformationDisclosureonChangeofShareholdingforListedCompanies. | ||
| Explanationonshareholdersinvolvingmarginbusinessabouttoptencommonstockshareholders(ifapplicable) | BeijingHaoqingFortuneInvestmentManagementCo.,Ltd.–HaoqingValueStableNo.8InvestmentFundholdssharesoftheCompanythroughmargintradingandnegotiablesecuritiesaccountthatis4,118,716sharesintotal. | ||
Whethertoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldhaveabuy-backagreementdealinginreportingperiod□Yes√NoThetoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldoftheCompanyhavenobuy-backagreementdealinginreportingperiod.
2.TotalshareholderswithpreferredstockheldatPeriod-endandsharesheldbytoptenshareholderswithpreferredstockheld
□Applicable√Notapplicable
SectionIII.SignificantEvents
I.Particularsaboutmaterialchangesinitemsofmainaccountingstatementandfinancialindexandexplanationsofreasons
√Applicable□Notapplicable1.Interestreceivable:anincreaseof2.5509millionYuancomparedwiththebeginningoftheperiod,withagrowthrateof31.02%,mainlybecausetheaccrualfordepositinterestincreased;2.Constructioninprogress:adecreaseof13.2163millionYuancomparedwiththebeginningoftheperiod,withagrowthrateof-36.30%,mainlybecausetheERPprojectcompletedforacceptanceandtransferout;3.Wagespayable:adecreaseof70.1103millionYuancomparedwiththebeginningoftheperiod,withagrowthrateof-30.24%,mainlybecauseemployee’swagesaccruallastyearareprovidedinthePeriod;4.Othercurrentliabilities:anincreaseof145,300Yuancomparedwiththebeginningoftheperiod,withagrowthrateof49.66%,mainlybecausetheoutputtaxreadyfortransferincreasedoverthatofamountatbeginningoftheyear;5.Financialexpenses:anincreaseof8.7817millionYuanonayear-on-yearbasis,withagrowthrateof39.43%,mainlybecausefinancingcostofthesupplychaininthisperiodhasincreasedcomparedwiththesameperiodoflastyear;6.Assetsimpairmentloss:anincreaseof1.0471millionYuanonayear-on-yearbasis,withagrowthrateof197.37%,mainlybecauseinventoryfallingpricereservesreversedintheperioddeclinedfromayearearlier;7.Creditimpairmentloss:anincreaseof5.2393millionYuanonayear-on-yearbasis,withagrowthrateof624.12%,mainlybecauseaccountreceivableatperiod-endhasincreasedoversameperiodoflastyear,thustheimpairmentforbaddebtsaccrualincreasedonay-o-ybasis;8.Incomefromassetsdisposal:adecreaseof3.8445millionYuanonayear-on-yearbasis,withagrowthrateof-100.37%,mainlybecauseinsameperiodoflastyear,governmentcollectedpropertypaymentsarereceivedwhilenosuchamountedoccurredintheperiod;9.Non-operatingincome:anincreaseof480,200Yuanonayear-on-yearbasis,withagrowthrateof35.31%,mainlybecausewrittenofffortheaccountpayablethatnoneedtobepaidincreasedfromayearearlierintheperiod;10.Non-operatingexpense:adecreaseof264,900Yuanonayear-on-yearbasis,withagrowthrateof-42.40%,mainlybecausefinefordelayingintheperioddeclinedonay-o-ybasis;11.Minorityshareholders’gainsandlosses:anincreaseof24.3643millionYuanonayear-on-yearbasis,withagrowthrateof121.17%,mainlybecauseatsecondhalfof2018,subsidiaryGuodaDrugstoreintroducestrategicinvestors,thentheminority’sinterestdeclinedonay-o-ybasis;12.Totalcomprehensiveincomeattributabletominorityshareholders:anincreaseof24.3643millionYuanonayear-on-yearbasis,withagrowthrateof121.17%,mainlybecauseatsecondhalfof2018,subsidiaryGuodaDrugstoreintroducestrategicinvestors,thusthetotalcomprehensiveincomeattributabletominorityshareholdersareincreasedcorrespondingly;13.Refundsoftaxes:adecreaseof400Yuanonayear-on-yearbasis,withagrowthrateof-100.00%,mainlybecauserefundsoftaxesreceivedinsameperiodoflastyearwhilenosuchamountoccurredintheperiod;14.Cashreceivedfrominvestmentincome:anincreaseof296,000Yuanonayear-on-yearbasis,withagrowthrateof39.10%,mainlybecausereceivedcashbonusfromjointventureintheperiodwhilenosuchamountoccurredinsameperiodoflastyear;15.Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets:adecreaseof5.613millionYuanonayear-on-yearbasis,withagrowthrateof-98.73%,mainlybecauserevenuefromintangibleassetsdisposalintheperioddeclinefromayearearlier;
16.Othercashreceivedrelatingtoinvestmentactivities:adecreaseof44millionYuanonayear-on-yearbasis,withagrowthrateof-100%,mainlybecauseloanbymandatereceivedfromSinopharmHoldingZhijun(Suzhou)Companyatsameperiodlastyearwhilenosuchamountoccurredintheperiod;17.Sub-totalofcashinflowsfrominvestmentactivities:adecreaseof49.3170millionYuanonayear-on-yearbasis,withagrowthrateof-97.77%,mainlybecauseloanbymandatereceivedfromSinopharmHoldingZhijun(Suzhou)Companyatsameperiodlastyearwhilenosuchamountoccurredintheperiod;18.Cashpaidforinvestment:anincreaseof20.1221millionYuanonayear-on-yearbasis,withagrowthrateof100%,mainlybecausestorestransferamountforretailstoreacquisitionfromsubsidiaryGuodaDrugstorearepaidintheperiodwhilenosuchamountoccurredatsameperiodlastyear;19.Othercashpaidrelatingtoinvestmentactivities:adecreaseof43.9970millionYuanonayear-on-yearbasis,withagrowthrateof-99.99%,mainlybecauseloanbymandateofSinopharmHoldingZhijun(Suzhou)Companyarepaidatsameperiodlastyearwhilenosuchamountoccurredintheperiod;20.Netcashflowfrominvestmentactivities:adecreaseof27.0534millionYuanonayear-on-yearbasis,withagrowthrateof-61.00%,mainlybecausestorestransferamountforretailstoreacquisitionfromsubsidiaryGuodaDrugstorearepaidintheperiodwhilenosuchamountoccurredatsameperiodlastyear;21.Cashreceivedbyabsorbinginvestments:adecreaseof7.1012millionYuanonayear-on-yearbasis,withagrowthrateof-61.79%,mainlybecauseinvestmentfromminorityshareholdersaredeclinedfromayearearlier;22.Othercashreceivedrelatingtofinancingactivities:anincreaseof69.0575millionYuanonayear-on-yearbasis,withagrowthrateof67.82%,mainlybecausesupplychainfinancingincreasedfromayearearlier;23.Sub-totalofcashinflowsfromfinancingactivities:anincreaseof58.2847millionYuanonayear-on-yearbasis,withagrowthrateof45.90%,mainlybecausesupplychainfinancingincreasedfromayearearlier;24.Cashpaidfordistributionofdividend,profitorinterestpayment:anincreaseof53.2311millionYuanonayear-on-yearbasis,withagrowthrateof172.70%,mainlybecauseinterestofthesupplychainfinancingincreasedfromayearearlier;25.Sub-totalofcashoutflowsfromfinancingactivities:anincreaseof60.6417millionYuanonayear-on-yearbasis,withagrowthrateof64.55%,mainlybecauseinterestofthesupplychainfinancingincreasedfromayearearlier;26.Balanceofcashandcashequivalentsattheperiod-end:anincreaseof4044millionYuanonayear-on-yearbasis,withagrowthrateof144.57%,mainlybecauseendowmentmoneyfromstrategicinvestorswasreceivedbysubsidiaryGuodaDrugstoreatsecondhalfoflastyearwhilenosuchamountoccurredatsameperiodlastyear
II.Analysisandexplanationofsignificanteventsandtheirinfluenceandsolutions
□Applicable√NotapplicableProgressofsharesbuy-back□Applicable√NotapplicableImplementationprogressofthereductionofrepurchasessharesbycentralizedbidding□Applicable√Notapplicable
III.CommitmentscompletedinPeriodandthosewithoutcompletedtillendofthePeriodfromactualcontroller,shareholders,relatedparties,purchaserandcompanies
√Applicable□Notapplicable
| Commitments | Promise | Typeofcommit | Contentofcommitments | Commitment | Commitmentterm | Implementation |
| ments | date | |||||
| Commitmentsforsharemergerreform | ||||||
| Commitmentsinreportofacquisitionorequitychange | SinopharmHolding | Commitmentofshareholders | "Asalargepharmaceuticalcommercialenterprisewhosebusinessinvolvespharmaceuticalwholesaleandretail,SinopharmHoldingmayoverlapwiththeCompanyingeographicalsegmentationduringitsfuturebusinessdevelopment.Toavoidthepotentialpeercompetitionbroughtbysuchgeographicaloverlap,SinopharmHoldingundertakesthat,uponthetransferofsharesofSinopharmHoldingGuangzhouitheldtoSinopharmAccord,“1.itwillnotnewly-establishorbroadenwithinGuangdonganybusinessoperationthatactuallycompetewiththatofSinopharmAccord,orsetupanynewsubsidiariesorsubordinateenterpriseswhoengageinsuchbusiness.2.ItwillenterintobusinessdelineationwithSinopharmAccordandSinopharmHoldingGuangzhou,therebygivingthethreepartiescleargeographicalareastocarryoutpharmaceuticalwholesaleandretailbusinesses,soastoavoidpotentialpeercompetition.Apartfromabove,SinopharmHoldingwillnolongernewly-establishanyenterprisethatmaycompetewithSinopharmAccordintheproductionandR&Dofpharmaceuticalproducts.” | 21June2005 | Long-termeffective | Normallyimplementing |
| Commitmentsinassetsreorganization | SinopharmGroupCo.,Ltd;ChinaNationalPharmaceuticalForeignTradeCorporation | Commitmentonrestrictedshares | “SinopharmHoldingandSinopharmForeignTrademadecommitmentsintheReportaboutChinaNationalAccordMedicinesCorporationLtd.PurchasingAssetsandRaisingSupportingFundsandRelatedTransactionsbyAssetSale,StockIssuanceandCashPaymentthatthenon-publicofferingofsharesofSinopharmAccordobtainedfromthistransactionshallnotbetransferredwithin36monthssincethefinishdateofissuanceandshallbeunlockedafter36monthssincethedateoflisting.Within6monthsafterthecompletionofthistransaction,iftheclosingpriceofthestockofSinopharmAccordislessthantheissuepriceincontinuous20tradingdays,ortheclosingpriceattheendof6monthsafterthecompletionofthistransactionislessthantheissueprice,thelockupperiodofthestockofSinopharmGroupandSinopharmForeignTradeobtainedfromSinopharmAccordbythistransactionwillautomaticallyprolongatleast6months.ThesharesderivedfromstockdividendsallocationandcapitalreserveincreasetransferringofSinopharmAccordbasedonthenon-publicofferingofsharesofSinopharmAccordobtainedbythistransactionshouldalsoabidebythe | 31May2016 | 36months | Normallyimplementing |
| abovestockrestrictedarrangements.” | |||||
| Ping’anAssetsManagementCo.,Ltd. | Commitmentonrestrictedshares | "PingAnAssetManagementCo.,Ltd.madecommitmentsintheReportaboutChinaNationalAccordMedicinesCorporationLtd.PurchasingAssetsandRaisingSupportingFundsandRelatedTransactionsbyAssetSale,StockIssuanceandCashPaymentthatthenon-publicofferingofsharesofSinopharmAccordobtainedfromthistransactionshallnotbetransferredwithin36monthssincethefinishdateofissuanceandshallbeunlockedafter36monthssincethedateoflisting.Afterplacementcompleted,thesharesofthelistedcompanyincreasedduetobonussharesandturningtoincreasecapitalshouldpursuittotherestrictionarrangementtheabovementioned. | 31May2016 | 36months | Normallyimplementing |
| ChinaNationalAccordMedicinesCorporationLtd.;SinopharmGroupCo.,Ltd;SINOPHARM | Othercommitments | “Thelistedcompany,controllingshareholders,theactualcontrollersmadecommitmentsintheReportaboutChinaNationalAccordMedicinesCorporationLtd.PurchasingAssetsandRaisingSupportingFundsandRelatedTransactionsbyAssetSale,StockIssuanceandCashPaymentthattheCompanyshallnotviolatetherelevantregulationsofArticle16inSecuritiesIssuanceandUnderwritingManagementApproach,anddirectlyorindirectlyprovidingfinancialassistanceorcompensationforthesubscriptionobjectsanditsshareholders/partners/clients(ifany)ofthisnon-publicofferingdoesnotexistandwillnotoccurinthefuture.” | 31May2016 | Long-termeffective | Normallyimplementing |
| Ping’anAssetsManagementCo.,Ltd. | Othercommitments | “PingAnAssetManagementCo.,Ltd.PromisesthattheunitintendstoutilizePingAnAssetXinxiangNo.3assetmanagementproductandPingAnAssetXinxiangNo.7assetmanagementproducttofundandsubscribesomenon-publicofferingofsharesofSinopharmAccordinthismajorassetrestructuringprocess,andhastheabilitytosubscribetheshares,therelevantcapitalsourcesarelegitimate,thereisnohierarchicalincomeandotherstructuredarrangements,andthereisnouseofleveragedfunds.TheunitdoesnotreceivefinancialassistanceorcompensationfromSinopharmAccordanditscontrollingshareholders,ortheactualcontrollers.Theinvestors’structureofabove-mentionedproductsdonotchangefromtheissuedateofthecommitmentlettertotheenddateofthelockupperiodofthestockthattheunitsubscribesfromSinopharmAccord.” | 24March2016 | Long-termeffective | Normallyimplementing |
| SINOPHARM | Increaseholdingcommit | “SinopharmmadecommitmentsintheReportaboutChinaNationalAccordMedicinesCorporationLtd.PurchasingAssetsandRaisingSupportingFundsandRelated | 6Jan.2017 | Threeyearsfromtheendof | Thereisnoneedforactual |
| ment | TransactionsbyAssetSale,StockIssuanceandCashPaymentthat1.ifthestockintradaypriceofSinopharmAccordonanytradingdayofthe30tradingdaysafterthelistingofnewlyincreasedsharesinthistransactionislessthantheissuepriceofnewlyincreasedsharesinthistransaction,SinopharmwillaccumulativelyinvestnomorethanRMB150millioninthese30tradingdaystoincreasetheholdingbythestocktradingsystemoftheShenzhenStockExchange(thisincreaseofholding)untiltheearlieroneofbelowtwosituationsoccurs:(1)theabove-mentionedfundsareuseup;(2)theintradaypriceofSinopharmAccordisnolessthantheissuepriceofnewlyincreasedsharesinthistransaction.2.Sinopharmshallnotsellthesharesobtainedfromthisincreaseofholdingwithin3yearsaftertheendofthisincreaseofholding.” | increaseholding(ifapplicable) | controllerstoincreaseholdings | ||
| SinopharmGroupCo.,Ltd | Commitmentsonhorizontalcompetition,relationtransactionandcapitaloccupation | “SinopharmHoldingmadecommitmentsintheReportaboutChinaNationalAccordMedicinesCorporationLtd.PurchasingAssetsandRaisingSupportingFundsandRelatedTransactionsbyAssetSale,StockIssuanceandCashPaymentthattheCompanyshallbethecontrollingshareholderofChinaNationalAccordMedicinesCorporationLtd.(hereinafterreferredtoasSinopharmAccord)uptotheissuedateofthiscommitmentletter,afterthecompletionofthismajorassetsreorganization(hereinafterreferredtoas“thisreorganization”),SinopharmAccordshallnolongerholdsharesoroperaterelevantbusinessesofpharmaceuticalindustry,themainbusinesswillbecomethenationalpharmaceuticalretailandpharmaceuticaldistributionbusinessinGuangdongandGuangxi.InordertosupportthebusinessdevelopmentofSinopharmAccordandavoidhorizontalcompetitionwithSinopharmAccordanditscontrollingenterprises,theCompanymadefollowingirrevocablecommitmentsandpromises:1,afterthecompletionofthisreorganization,asforthesocialretaildrugstoreassetsexceptforSinopharmHoldingGuodaDrugstoreCo.,Ltd.anditssubsidiariesandbranchesownedorcontrolledbytheCompany,theCompanypromisedtotakeappropriatemeasurestosolvethehorizontalcompetitionprobleminthepharmaceuticalretailbusinessbetweentheCompanyandSinopharmAccordwithin5yearssincethecompletiondateofthisreorganization.2.TheCompany'swayofresolvinghorizontalcompetitionproblemsincludesandisnotlimitedtopurchasingthesocialretaildrugstoreassetssubordinatedtotheCompanybySinopharmAccord,taking | 28Dec.2016 | Long-termeffective | Normallyimplementing |
| SINOPHARM | Commitmentsonhorizontalcompetition,relationtransactionandcapitaloccupation | “SINOPHARMmadecommitmentsintheReportaboutChinaNationalAccordMedicinesCorporationLtd.PurchasingAssetsandRaisingSupportingFundsandRelatedTransactionsbyAssetSale,StockIssuanceandCashPaymentthattheCompanyshallbetheactualcontrollerofChinaNationalAccordMedicinesCorporationLtd.(hereinafterreferredtoasSinopharmAccord)uptotheissuedateofthiscommitmentletter,afterthecompletionofthismajorassetsreorganization(hereinafterreferredtoas“thisreorganization”),SinopharmAccordshallnolongerholdsharesoroperaterelevantbusinessesofpharmaceuticalindustry,themainbusinesswillbecomethenationalpharmaceuticalretailandpharmaceuticaldistributionbusinessinGuangdongandGuangxi.InordertosupportthebusinessdevelopmentofSinopharmAccordandavoidhorizontalcompetitionwithSinopharmAccordanditscontrollingenterprises,theCompanymadefollowingirrevocablecommitmentsandpromises:1,afterthecompletionofthisreorganization,asforthesocialretaildrugstoreassetsexceptforSinopharmGroupGuodaDrugstoreCo.,Ltd.anditssubsidiariesandbranchesownedorcontrolledbytheCompany,theCompanypromisedtotakeappropriatemeasurestosolvethehorizontalcompetitionprobleminthepharmaceuticalretailbusinessbetweentheCompanyandSinopharmAccordwithin5yearssincethecompletiondateofthisreorganization.2.TheCompany'swayofresolvinghorizontalcompetitionproblemsincludesandisnotlimitedtopurchasingthesocialretaildrugstoreassetssubordinatedtotheCompanybySinopharmAccord,takingtheentrustedoperation,leasingorcontractingoperationbySinopharmAccordanditscontrollingenterprisesinaccordancewiththemethodspermittedtonationallawstoholdorcontrolthesocialretaildrugstoreassets,ortransferringthecontrollingstakeofthesocialretaildrugstoreassetsbytheCompany.3.Iftheshareholdersofthesocialretaildrugstoreassets(hereinafterreferredtoas"thethirdparty")oftheCompanyortheenterprisescontrolledbytheCompanyhaveoraregoingtoperformthepreemptiverightsunderthesameconditionsinaccordancewithrelevantlawsandcorrespondingArticlesofAssociation,thentheabovecommitmentwillnotbeapplicable,butinthiscase,theCompanyshouldtryitsutmosttourgethethirdpartytowaiveitspreemptiverights.IftheCompanyisunabletourgethethirdpartytogiveupthepreemptiverights,theCompany | 28Dec.2016 | Long-termeffective | Normallyimplementing |
| willurgetheenterprisescontrolledbytheCompanytotransferthesocialretaildrugstoreassetstothethirdpartytosolvethehorizontalcompetitionproblem.4.ThepharmaceuticaldistributionassetscurrentlyownedorcontrolledbytheCompanyaredistributedoutsideGuangdongandGuangxiregions,thereisnohorizontalcompetitionwithSinopharmAccord,theCompanywillnotengageinthesameorsimilaroperationbusinessestoSinopharmAccordinGuangdongandGuangxiinthefuture,iftheCompanyanditsholdingenterprisesobtainthenewbusinessopportunitiesconstitutingsubstantialhorizontalcompetition(hereinafterreferredtoascompetitivenewbusiness)withinthepharmaceuticaldistributionbusinessscopeofSinopharmAccordinGuangdongandGuangxi,theCompanywillsendwrittennoticetoSinopharmAccordandtryitsutmosttofirstlyprovidethenewbusinessopportunitiestoSinopharmAccordoritsholdingenterprisesaccordingtothereasonableandfairtermsandconditionssoastoavoidthehorizontalcompetitionwithSinopharmAccordanditsholdingenterprises.5.Thiscommitmentletterterminateswhenfollowingcircumstancesoccur(subjecttotheearlierone):(1)theCompanyisnolongertheactualcontrollerofSinopharmAccord;or(2)thesharesofSinopharmAccordterminatethelistingatthestockexchange.” | ||||||
| Commitmentsmakeininitialpublicofferingorre-financing | SinopharmHolding | Commitmentofshareholders | SinopharmHoldingmadecommitmentsintheCommitmentLetterAboutSinopharmGroupCo.,Ltd.toAvoidHorizontalCompetition:“First,theCompanyandtheCompany’swholly-owned,controllingorotherenterpriseswithactualcontrol(inadditiontoSinopharmAccordanditscontrollingenterprises,hereinafterthesame)don’thavebusinessesandoperationsconstitutingthesubstantialhorizontalcompetitiontoSinopharmAccordanditscontrollingenterprises.Second,theCompanyandtheCompany’swholly-owned,controllingorotherenterpriseswithactualcontrolshallnotengage,participateinordobusinessesandactivitiesinGuangdongandGuangxiwhichconstitutesubstantialcompetitiontoSinopharmAccordandpharmaceuticalbusinessservices.Third,theCompanyandtheCompany’swholly-owned,controllingorotherenterpriseswithactualcontrolshallnotengage,participateinordobusinessesandactivitieswhichconstitutesubstantialcompetitiontoSinopharmAccordandpharmaceuticalindustrybusinesses.Fourth,theCompanyshallnottakeadvantageofthecontroltoSinopharmAccordtodamagethelegitimaterightsandinterestsofSinopharm | 5Sept.2013 | Long-termeffective | Controllingshareholderisimplementinrealearnest,SinopharmAccordwillactivelyurgedthecontrollingshareholderandactualcontrollertofulfillcommitm |
| Accordandothershareholders(especiallymediumandsmallshareholders).Thiscommitmentlettertakeseffectfromtheissuedate,andremainsineffectfortheentireperiodwhentheCompanyactsasthecontrollingshareholderoritsrelatedpartyofSinopharmAccord.Withintheeffectiveperiodofthecommitment,iftheCompanyviolatesthiscommitmentandcausesalosstoSinopharmAccord,theCompanywilltimelymakefullcompensationforSinopharmAccord.” | ents | ||||
| SinopharmHolding | Commitmentofshareholders | SinopharmHoldingmadecommitmentsintheCommitmentLetterAboutSinopharmGroupCo.,Ltd.toRegulatetheRelatedTransactionswithChinaNationalAccordMedicinesCorporationLtd.:“First,whentheCompanyiscontrollingSinopharmAccord,theCompanyandthecompaniesandenterprisesdirectlyandindirectlycontrolledbytheCompany(“relatedparty”forshort)willstrictlyregulatetherelatedtransactionswithSinopharmAccordanditscontrollingenterprises.Second,fortherelatedtransactionsthatcannotbeavoidednorhavereasonablereasonstooccur,theCompanyandrelatedpartyshallsignnormativerelatedtransactionagreementinaccordancewithrelevantlawswithSinopharmAccord.SinopharmAccordimplementstheapprovalproceduresandfulfillstheinformationdisclosureobligationsoftherelatedtransactionsaccordingtorelevantlaws,regulations,rules,othernormativedocumentsandtheconstitutionsofSinopharmAccord.Third,fortherelatedtransactionsthatcannotbeavoidedorhavereasonablereasonstooccur,theCompanyandrelatedpartyshallabidebytheopen,fairandjustmarketprinciplesandconfirmthepriceofrelatedtransactionsinaccordancewiththepricethattheindependentthirdpartywithoutassociationsetsforthesameandsimilartransactions,andensurethefairnessofthepriceoftherelatedtransactions.Fourth,whentheboardofdirectorsandthegeneralmeetingofstockholdersofSinopharmAccordvoteontherelatedtransactionsinvolvingtheCompanyandotherenterprisescontrolledbytheCompany,theCompanyshallfulfillthenecessaryobligationsthattheassociateddirectorsandassociatedshareholdersabstainfromvotinginaccordancewiththerelevantprovisions,andabidebythelegalproceduresforapprovingrelatedtransactionsandtheinformationdisclosureobligations.Fifth,theCompanyguaranteestoparticipateintheshareholders'generalmeeting,equallyexercisethecorrespondingrightsandtakethecorrespondingobligationsinaccordancewiththeconstitutionsofSinopharmAccord, | 5Sept.2013 | Long-termeffective | Controllingshareholderisimplementinrealearnest,SinopharmAccordwillactivelyurgedthecontrollingshareholderandactualcontrollertofulfillcommitments |
| nottotakeadvantageofcontrollingshareholderstatustoseekimproperbenefitsorutilizerelatedtransactionstoillegallytransferthefundsandprofitsofSinopharmAccord,andnottodamagethelegitimaterightsandinterestsofothershareholders(especiallythemediumandsmallshareholders)ofSinopharmAccord.Sixth,thiscommitmentlettercomesintoforcefromtheissuedateandremainsineffectfortheentireperiodwhentheCompanyactsasthecontrollingshareholderoritsrelatedpartyofSinopharmAccord.Withintheeffectiveperiodofthecommitment,iftheCompanyviolatesthiscommitmentandcausesalosstoSinopharmAccord,theCompanywilltimelymakefullcompensationforSinopharmAccord.” | |||||
| SINOPHARM | Commitmentofactualcontroller | "SINOPHARMmadecommitmentsintheCommitmentLetterAboutChinaNationalPharmaceuticalGroupCorporationtoAvoidHorizontalCompetitionwithChinaNationalAccordMedicinesCorporationLtd.:“First,inthenextfiveyears,Sinopharmplanstotakeappropriatemeasures(includingassetsreplacementoracquisition,equityreorganization,etc.)toresolvethehorizontalcompetitionbetweenSinopharmWeiqidaandSinopharmAccord.Second,inadditiontothepastmattersandmattersdisclosedinthiscommitmentletter,theCompanyandtheCompany’swholly-owned,controllingorotherenterpriseswithactualcontrolrights(exceptforSinopharmAccordanditscontrollingenterprises,thesameasbelow)shallnotdirectlyengagedin,participateinordothebusinessesanactivitiesconstitutingactualcompetitiontotheproductionandoperationofSinopharmAccordinChina.TherelevantcommitmentsaboutavoidinghorizontalcompetitionthattheCompanymadeinthepaststillremainineffect.Third,theCompanyshallnottakeadvantageofthecontrolrelationshiptoSinopharmAccordtodamagethelegitimaterightsandinterestsofSinopharmAccordanditsshareholders(especiallythemediumandsmallshareholders).Fourth,thiscommitmentlettercomesintoforcefromtheissuedateandremainsineffectfortheentireperiodwhentheCompanyactsasthecontrollingshareholderoritsrelatedpartyofSinopharmAccord.” | 16Oct.2013 | Long-termeffective | ActualControllerisimplementinrealearnest,SinopharmAccordwillactivelyurgedthecontrollingshareholderandactualcontrollertofulfillcommitments |
| SINOPHARM | Commitmentofactualcontrolle | "SINOPHARMmadecommitmentsintheCommitmentLetterAboutSinopharmGroupCo.,Ltd.toRegulatetheRelatedTransactionswithChinaNationalAccordMedicinesCorporationLtd.:“First,whentheCompanyiscontrollingSinopharmAccord,theCompanyandthecompaniesand | 22Sept.2013 | Long-termeffective | ActualControllerisimplementinreal |
| r | enterprisesdirectlyandindirectlycontrolledbytheCompany(“relatedparty”forshort)willstrictlyregulatetherelatedtransactionswithSinopharmAccordanditscontrollingenterprises.Second,fortherelatedtransactionsthatcannotbeavoidedorhavereasonablereasonstooccur,theCompanyandrelatedpartyshallsignnormativerelatedtransactionagreementinaccordancewithrelevantlawswithSinopharmAccord.SinopharmAccordimplementstheapprovalproceduresandfulfillstheinformationdisclosureobligationsoftherelatedtransactionsaccordingtorelevantlaws,regulations,rules,othernormativedocumentsandtheconstitutionsofSinopharmAccord.Third,fortherelatedtransactionsthatcannotbeavoidedorhavereasonablereasonstooccur,theCompanyandrelatedpartyshallabidebytheopen,fairandjustmarketprinciplesandconfirmthepriceofrelatedtransactionsinaccordancewiththepricethattheindependentthirdpartywithoutassociationsetsforthesameandsimilartransactions,andensurethefairnessofthepriceoftherelatedtransactions.Fourth,whentheboardofdirectorsandthegeneralmeetingofstockholdersofSinopharmAccordvoteontherelatedtransactionsinvolvingtheCompanyandotherenterprisescontrolledbytheCompany,theCompanyshallfulfillthenecessaryobligationsthattheassociateddirectorsandassociatedshareholdersabstainfromvotinginaccordancewiththerelevantprovisions,andabidebythelegalproceduresforapprovingrelatedtransactionsandtheinformationdisclosureobligations.Fifth,theCompanyguaranteesnottotakeadvantageofactualcontrollerstatustoseekimproperbenefitsorutilizerelatedtransactionstoillegallytransferthefundsandprofitsofSinopharmAccord,andnottodamagethelegitimaterightsandinterestsofothershareholders(especiallythemediumandsmallshareholders)ofSinopharmAccord.Sixth,thiscommitmentlettercomesintoforcefromtheissuedateandremainsineffectfortheentireperiodwhentheCompanyactsastheactualcontrolleroritsrelatedpartyofSinopharmAccord. | earnest,SinopharmAccordwillactivelyurgedthecontrollingshareholderandactualcontrollertofulfillcommitments | |||
| Equityincentivecommitment | |||||
| Othercommitmentsformediumandsmallshareholders |
| Completedontime(Y/N) | Y |
IV.PredictofthebusinessperformancefromJanuarytoJune2019
Warningsandreasonsofthepredictthatthecumulativenetprofitfromthebeginoftheyeartotheendofnextreportperiodmaybelossorhavegreatchangescomparingwiththesameperiodoflastyear□Applicable√Notapplicable
V.SecuritiesInvestment
□Applicable√NotapplicableNosecurityinvestmentinthePeriod.
VI.Derivativeinvestment
□Applicable√NotapplicableNoderivativeinvestmentinthePeriod.
VII.Registrationformforreceivingresearch,communicationandinterviewinthereportperiod
□Applicable√NotapplicableTheCompanyhadnoreceivingresearch,communicationorinterviewinthereportperiod.
VIII.Guaranteeoutsideagainsttheregulation
□Applicable√NotapplicableTheCompanyhadnoguaranteeoutsideagainsttheregulationintheperiod.
IX.Non-operationalfundoccupationfromcontrollingshareholdersanditsrelatedparty
□Applicable√NotapplicableTheCompanyhadnonon-operationalfundoccupationformcontrollingshareholdersanditsrelatedpartyintheperiod.
SectionIV.FinancialStatement
I.Financialstatement
1.Consolidatebalancesheet
PreparedbyChinaNationalAccordMedicinesCorporationLtd.
InRMB
| Item | 2019-3-31 | 2018-12-31 |
| Currentassets: | ||
| Monetaryfunds | 7,227,934,452.95 | 8,089,781,304.56 |
| Settlementprovisions | ||
| Capitallent | ||
| Transactionalfinancialassets | ||
| Financialassetsmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses | ||
| Derivativefinancialassets | ||
| Notereceivableandaccountreceivable | 12,883,896,343.83 | 10,694,173,577.55 |
| Including:Notereceivable | 1,291,769,217.58 | 1,357,311,929.63 |
| Accountreceivable | 11,592,127,126.25 | 9,336,861,647.92 |
| Accountspaidinadvance | 469,305,072.68 | 583,484,515.95 |
| Insurancereceivable | ||
| Reinsurancereceivables | ||
| Contractreserveofreinsurancereceivable | ||
| Otheraccountreceivable | 669,828,115.37 | 643,493,359.32 |
| Including:Interestreceivable | 10,774,272.10 | 8,223,327.64 |
| Dividendreceivable | ||
| Buyingbackthesaleoffinancialassets | ||
| Inventories | 5,021,180,614.11 | 4,389,335,942.19 |
| Contractualassets | ||
| Assetsheldforsale |
| Non-currentassetduewithinoneyear | 216,449.81 | 0.00 |
| Othercurrentassets | 78,322,158.95 | 95,347,629.18 |
| Totalcurrentassets | 26,350,683,207.70 | 24,495,616,328.75 |
| Non-currentassets: | ||
| Loansandpaymentsonbehalf | ||
| Creditor'srightsinvestment | ||
| Financeassetavailableforsales | ||
| Othercreditor'srightsinvestment | ||
| Held-to-maturityinvestment | ||
| Long-termaccountreceivable | ||
| Long-termequityinvestment | 1,965,032,173.28 | 1,880,393,786.10 |
| OtherEquityInstrumentInvestment | 13,685,760.00 | 13,685,760.00 |
| Othernon-currentfinancialassets | 140,000,000.00 | 140,000,000.00 |
| InvestmentRealEstate | 142,440,522.94 | 144,894,495.97 |
| Fixedassets | 599,595,334.28 | 607,933,827.67 |
| Constructioninprogress | 23,196,302.61 | 36,412,614.61 |
| Productivebiologicalasset | ||
| Oilandgasasset | ||
| Right-of-useassets | ||
| Intangibleassets | 325,672,972.38 | 319,207,126.15 |
| ExpenseonResearchandDevelopment | ||
| Goodwill | 833,547,800.60 | 833,547,800.60 |
| Long-termexpensestobeapportioned | 307,485,030.89 | 311,328,706.46 |
| Deferredincometaxasset | 79,583,749.57 | 74,914,209.95 |
| Othernon-currentasset | 74,361,692.49 | 72,365,863.71 |
| Totalnon-currentasset | 4,504,601,339.04 | 4,434,684,191.22 |
| Totalassets | 30,855,284,546.74 | 28,930,300,519.97 |
| Currentliabilities: | ||
| Short-termloans | 2,966,927,256.65 | 2,597,652,702.43 |
| Loanfromcentralbank | ||
| Capitalborrowed | ||
| Transactionalfinancialliabilities | ||
| Financialliabilitymeasuredbyfairvalueandwithvariationreckonedinto |
| currentgains/losses | ||
| Derivativefinancialliability | ||
| Notepayableandaccountpayable | 11,051,700,299.25 | 9,885,291,642.97 |
| Accountsreceivedinadvance | ||
| Sellingfinancialassetofrepurchase | ||
| Absorbingdepositandinterbankdeposit | ||
| Securitytradingofagency | ||
| Securitysalesofagency | ||
| Wagepayable | 161,756,066.12 | 231,866,407.40 |
| Taxespayable | 206,747,491.44 | 241,980,412.72 |
| Otheraccountpayable | 1,697,350,774.81 | 1,539,436,971.93 |
| Including:Interestpayable | 23,450,973.62 | 21,906,660.63 |
| Dividendpayable | 6,389,320.96 | 6,389,320.96 |
| Commissionchargeandcommissionpayable | ||
| Reinsurancepayable | ||
| Contractualliability | 237,075,149.10 | 255,590,612.37 |
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | 5,810,749.03 | 5,861,324.37 |
| Othercurrentliabilities | 437,717.78 | 292,465.75 |
| Totalcurrentliabilities | 16,327,805,504.18 | 14,757,972,539.94 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termloans | 31,600,000.00 | 31,600,000.00 |
| Bondspayable | ||
| Including:preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliabilities | ||
| Long-termaccountpayable | 3,249,184.86 | 4,563,978.52 |
| Long-termwagespayable | 2,050,000.00 | 2,050,000.00 |
| Accrualliability | ||
| Deferredincome | 93,363,910.59 | 91,491,170.40 |
| Deferredincometaxliabilities | 73,707,747.31 | 67,605,161.88 |
| Othernon-currentliabilities | 68,719,380.11 | 69,241,176.18 |
| Totalnon-currentliabilities | 272,690,222.87 | 266,551,486.98 |
| Totalliabilities | 16,600,495,727.05 | 15,024,524,026.92 |
| Owner’sequity: | ||
| Sharecapital | 428,126,983.00 | 428,126,983.00 |
| Otherequityinstrument | ||
| Including:preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 4,320,984,981.51 | 4,320,984,981.51 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Specialreserves | ||
| Surpluspublicreserve | 214,063,491.50 | 214,063,491.50 |
| Provisionofgeneralrisk | ||
| Retainedprofit | 6,955,406,159.35 | 6,655,257,147.27 |
| Totalowner’sequityattributabletoparentcompany | 11,918,581,615.36 | 11,618,432,603.28 |
| Minorityinterests | 2,336,207,204.33 | 2,287,343,889.77 |
| Totalowner’sequity | 14,254,788,819.69 | 13,905,776,493.05 |
| Totalliabilitiesandowner’sequity | 30,855,284,546.74 | 28,930,300,519.97 |
LegalRepresentative:LinZhaoxiongPersoninchargeofaccountingworks:WeiPingxiaoPersoninchargeofaccountinginstitute:WangYing
2.CompanyBalanceSheet
InRMB
| Item | 2019-3-31 | 2018-12-31 |
| Currentassets: | ||
| Monetaryfunds | 1,610,546,696.63 | 1,817,654,598.01 |
| Transactionalfinancialassets | ||
| Financialassetsmeasuredbyfairvalueandwithvariationreckonedinto |
| currentgains/losses | ||
| Derivativefinancialassets | ||
| Notereceivableandaccountreceivable | 778,182,144.17 | 695,107,574.33 |
| Including:Notereceivable | 61,801,525.19 | 63,870,980.39 |
| Accountreceivable | 716,380,618.98 | 631,236,593.94 |
| Accountspaidinadvance | 2,866,786.21 | 4,760,182.00 |
| Otheraccountreceivable | 1,738,408,183.81 | 1,541,980,883.50 |
| Including:Interestreceivable | 10,239,458.70 | 7,550,877.07 |
| Dividendreceivable | ||
| Inventories | 248,756,233.39 | 158,166,185.65 |
| Contractualassets | ||
| Assetsheldforsale | ||
| Non-currentassetduewithinoneyear | ||
| Othercurrentassets | 39,482.38 | 39,482.38 |
| Totalcurrentassets | 4,378,799,526.59 | 4,217,708,905.87 |
| Non-currentassets: | ||
| Creditor'srightinvestment | ||
| Financeassetavailableforsales | ||
| OtherCreditor'srightinvestment | ||
| Held-to-maturityinvestment | ||
| Long-termaccountreceivable | ||
| Long-termequityinvestment | 7,520,772,179.63 | 7,432,906,692.24 |
| OtherEquityInstrumentInvestment | ||
| Othernon-currentfinancialassets | 140,000,000.00 | 140,000,000.00 |
| Investmentrealestate | 1,753,860.08 | 1,955,854.46 |
| Fixedassets | 20,366,256.30 | 21,362,422.03 |
| Constructioninprogress | ||
| Productivebiologicalasset | ||
| Oilandgasasset | ||
| Right-of-useassets | ||
| Intangibleassets | 2,510,842.98 | 2,452,222.51 |
| ExpenseonResearchandDevelopment | ||
| Goodwill |
| Long-termexpensestobeapportioned | 7,393,587.02 | 7,481,809.53 |
| Deferredincometaxasset | ||
| Othernon-currentasset | 7,000,000.00 | 7,000,000.00 |
| Totalnon-currentasset | 7,699,796,726.01 | 7,613,159,000.77 |
| Totalassets | 12,078,596,252.60 | 11,830,867,906.64 |
| Currentliabilities: | ||
| Short-termloans | 589,000,000.00 | 539,000,000.00 |
| Transactionalfinancialliabilities | ||
| Financialliabilitymeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses | ||
| Derivativefinancialliability | ||
| Notepayableandaccountpayable | 869,660,213.37 | 694,367,042.00 |
| Accountsreceivedinadvance | ||
| Contractualliability | 5,410,556.58 | 4,182,083.40 |
| Wagepayable | 24,216,942.71 | 36,233,563.12 |
| Taxespayable | 9,550,478.10 | 13,426,601.90 |
| Otheraccountpayable | 1,414,671,051.06 | 1,481,817,856.56 |
| Including:Interestpayable | 3,170,194.80 | 1,354,592.35 |
| Dividendpayable | ||
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithin1year | ||
| Othercurrentliabilities | 286,774.36 | 226,427.99 |
| Totalcurrentliabilities | 2,912,796,016.18 | 2,769,253,574.97 |
| Non-currentliabilities: | ||
| Long-termloans | 31,600,000.00 | 31,600,000.00 |
| Bondspayable | ||
| Including:preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliabilities | ||
| Long-termaccountpayable | 800,000.00 | 800,000.00 |
| Long-termwagespayable | 118,000.00 | 118,000.00 |
| Accrualliability | ||
| Deferredincome | 1,598,343.17 | 1,687,899.50 |
| Deferredincometaxliabilities | 2,264,238.33 | 2,298,426.39 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 36,380,581.50 | 36,504,325.89 |
| Totalliabilities | 2,949,176,597.68 | 2,805,757,900.86 |
| Owner’sequity: | ||
| Sharecapital | 428,126,983.00 | 428,126,983.00 |
| Otherequityinstrument | ||
| Including:preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 4,426,362,777.26 | 4,426,362,777.26 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Specialreserves | ||
| Surpluspublicreserve | 214,063,491.50 | 214,063,491.50 |
| Retainedprofit | 4,060,866,403.16 | 3,956,556,754.02 |
| Totalowner’sequity | 9,129,419,654.92 | 9,025,110,005.78 |
| Totalliabilitiesandowner’sequity | 12,078,596,252.60 | 11,830,867,906.64 |
3.ConsolidatedIncomeStatement
InRMB
| Item | Currentperiod | Lastperiod |
| I.Totaloperatingincome | 11,879,309,078.82 | 10,256,566,731.51 |
| Including:Operatingincome | 11,879,309,078.82 | 10,256,566,731.51 |
| Interestincome | ||
| Insurancegained | ||
| Commissionchargeandcommissionincome | ||
| II.Totaloperatingcost | 11,537,438,016.52 | 9,962,364,535.96 |
| Including:Operatingcost | 10,577,400,754.11 | 9,138,308,909.43 |
| Interestexpense | ||
| Commissionchargeandcommissionexpense | ||
| Cashsurrendervalue | ||
| Netamountofexpenseofcompensation |
| Netamountofwithdrawalofinsurancecontractreserve | ||
| Bonusexpenseofguaranteeslip | ||
| Reinsuranceexpense | ||
| Taxandextras | 30,332,457.09 | 26,770,236.12 |
| Salesexpense | 715,774,974.40 | 606,866,589.59 |
| Administrativeexpense | 177,959,158.93 | 169,516,240.49 |
| R&Dexpense | ||
| Financialexpense | 31,054,269.89 | 22,272,552.43 |
| Including:Interestexpenses | 58,290,745.18 | 36,406,979.15 |
| Interestincome | 29,668,524.26 | 10,935,569.52 |
| Lossesofdevaluationofasset | 516,563.77 | -530,515.38 |
| Lossesofdevaluationofcredit | 4,399,838.33 | -839,476.72 |
| Add:otherincome | 1,089,732.58 | 1,419,763.88 |
| Investmentincome(Lossislistedwith“-”) | 81,891,387.17 | 82,615,372.00 |
| Including:Investmentincomeonaffiliatedcompanyandjointventure | 81,891,387.17 | 82,615,372.00 |
| Exchangeincome(Lossislistedwith“-”) | ||
| Netincomeofexposurehedging(Lossislistedwith“-”) | ||
| Incomefromchangeoffairvalue(Lossislistedwith“-”) | ||
| Incomefromassetsdisposal(Lossislistedwith“-”) | -14,209.30 | 3,830,300.39 |
| III.Operatingprofit(Lossislistedwith“-”) | 424,837,972.75 | 382,067,631.82 |
| Add:Non-operatingincome | 1,840,284.73 | 1,360,096.85 |
| Less:Non-operatingexpense | 359,824.55 | 624,679.96 |
| IV.TotalProfit(Lossislistedwith“-”) | 426,318,432.93 | 382,803,048.71 |
| Less:Incometaxexpense | 81,698,106.29 | 69,964,333.16 |
| V.Netprofit(Netlossislistedwith“-”) | 344,620,326.64 | 312,838,715.55 |
| (i)Classifybybusinesscontinuity | ||
| 1.Netprofitfromcontinuousoperation(Netlossislistedwith“-”) | 344,620,326.64 | 312,838,715.55 |
| 2.Netprofitfromdiscontinuedoperation(Netlossislistedwith“-”) | ||
| (ii)Classifybyownership |
| 1.Netprofitattributabletoownersofparentcompany | 300,149,012.08 | 292,731,685.33 |
| 2.Minorityshareholders’gainsandlosses | 44,471,314.56 | 20,107,030.22 |
| VI.Netafter-taxofothercomprehensiveincome | ||
| Netafter-taxofothercomprehensiveincomeattributabletoownersofparentcompany | ||
| (i)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytogain/loss | ||
| 1.Re-measurementofthechangeofdefinedbenefitplan | ||
| 2.Othercomprehensiveincomeunabletransfertogain/lossunderequitymethod | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeabletotransfertogain/lossunderequitymethod | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Gainsorlossesarisingfromchangesinfairvalueofavailable-for-salefinancialassets | ||
| 4.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 5.Gainsorlossesarisingfromreclassificationofheld-to-maturityinvestmentasavailable-for-salefinancialassets | ||
| 6.Creditimpairmentprovisionforotherdebtinvestment | ||
| 7.Cashflowhedgingreserve | ||
| 8.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 9.Other | ||
| Netafter-taxofothercomprehensiveincomeattributabletominorityshareholders |
| VII.Totalcomprehensiveincome | 344,620,326.64 | 312,838,715.55 |
| TotalcomprehensiveincomeattributabletoownersofparentCompany | 300,149,012.08 | 292,731,685.33 |
| Totalcomprehensiveincomeattributabletominorityshareholders | 44,471,314.56 | 20,107,030.22 |
| VIII.Earningspershare: | ||
| (i)Basicearningspershare | 0.70 | 0.68 |
| (ii)Dilutedearningspershare | 0.70 | 0.68 |
EnterprisecombineunderthesamecontrolinthePeriod,thecombinedpartyrealizednetprofitof0Yuanbeforecombination,andrealized0YuanatlastperiodforcombinedpartyLegalRepresentative:LinZhaoxiongPersoninchargeofaccountingworks:WeiPingxiaoPersoninchargeofaccountinginstitute:WangYing
4.CompanyIncomeStatement
InRMB
| Item | Currentperiod | Lastperiod |
| I.Operationincome | 980,473,288.29 | 838,120,017.53 |
| Less:Operatingcost | 941,804,760.61 | 799,779,364.60 |
| Taxandextras | 1,316,238.98 | 835,459.34 |
| Salesexpense | 14,925,549.11 | 12,616,898.48 |
| Administrativeexpense | 14,279,164.82 | 17,050,142.14 |
| R&Dexpense | ||
| Financialexpense | -13,902,193.26 | -8,050,984.45 |
| Including:Interestexpenses | 10,213,129.26 | 10,790,064.92 |
| Interestincome | 24,381,516.96 | 19,000,031.39 |
| Lossesofdevaluationofasset | 361,970.94 | 615,777.60 |
| Lossesofdevaluationofcredit | ||
| Add:otherincome | 193,207.80 | 326,108.76 |
| Investmentincome(Lossislistedwith“-”) | 87,865,487.39 | 86,415,508.07 |
| Including:Investmentincomeonaffiliatedcompanyandjointventure | 87,865,487.39 | 86,415,508.07 |
| Netincomeofexposurehedging(Lossislistedwith“-”) |
| Incomefromchangeoffairvalue(Lossislistedwith“-”) | ||
| Incomefromassetsdisposal(Lossislistedwith“-”) | ||
| II.Operatingprofit(Lossislistedwith“-”) | 109,746,492.28 | 102,014,976.65 |
| Add:Non-operatingincome | 45,736.26 | 1.36 |
| Less:Non-operatingexpense | 127,688.63 | |
| III.TotalProfit(Lossislistedwith“-”) | 109,792,228.54 | 101,887,289.38 |
| Less:Incometaxexpense | 5,482,579.40 | 3,887,522.50 |
| IV.Netprofit(Netlossislistedwith“-”) | 104,309,649.14 | 97,999,766.88 |
| (i)netprofitfromcontinuousoperation(Netlossislistedwith“-”) | 104,309,649.14 | 97,999,766.88 |
| (ii)netprofitfromdiscontinuedoperation(Netlossislistedwith“-”) | ||
| V.Netafter-taxofothercomprehensiveincome | ||
| (i)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytogain/loss | ||
| 1.Re-measurementofthechangeofdefinedbenefitplan | ||
| 2.Othercomprehensiveincomeunabletransfertogain/lossunderequitymethod | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeabletotransfertogain/lossunderequitymethod | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Gainsorlossesarisingfromchangesinfairvalueofavailable-for-salefinancialassets | ||
| 4.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 5.Gainsorlossesarisingfrom |
| reclassificationofheld-to-maturityinvestmentasavailable-for-salefinancialassets | ||
| 6.Creditimpairmentprovisionforotherdebtinvestment | ||
| 7.Cashflowhedgingreserve | ||
| 8.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 9.Other | ||
| VI.Totalcomprehensiveincome | 104,309,649.14 | 97,999,766.88 |
| VII.Earningspershare: | ||
| (i)Basicearningspershare | ||
| (ii)Dilutedearningspershare |
5.ConsolidatedCashFlowStatement
InRMB
| Item | Currentperiod | Lastperiod |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 11,235,250,201.33 | 9,559,665,373.83 |
| Netincreaseofcustomerdepositandinterbankdeposit | ||
| Netincreaseofloanfromcentralbank | ||
| Netincreaseofcapitalborrowedfromotherfinancialinstitution | ||
| Cashreceivedfromoriginalinsurancecontractfee | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseofinsuredsavingsandinvestment | ||
| Netincreaseofamountfromdisposalfinancialassetsthatmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses |
| Cashreceivedfrominterest,commissionchargeandcommission | ||
| Netincreaseofcapitalborrowed | ||
| Netincreaseofreturnedbusinesscapital | ||
| Netcashreceivedbyagentsinsaleandpurchaseofsecurities | ||
| Write-backoftaxreceived | 389.03 | |
| Othercashreceivedconcerningoperatingactivities | 132,553,315.42 | 148,125,927.35 |
| Subtotalofcashinflowarisingfromoperatingactivities | 11,367,803,516.75 | 9,707,791,690.21 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 10,889,119,533.11 | 9,484,567,939.67 |
| Netincreaseofcustomerloansandadvances | ||
| Netincreaseofdepositsincentralbankandinterbank | ||
| Cashpaidfororiginalinsurancecontractcompensation | ||
| Netincreaseoffinancialassetsheldfortransactionpurposes | ||
| Netincreaseofcapitallent | ||
| Cashpaidforinterest,commissionchargeandcommission | ||
| Cashpaidforbonusofguaranteeslip | ||
| Cashpaidto/forstaffandworkers | 565,281,263.79 | 506,267,191.33 |
| Taxespaid | 319,123,756.29 | 263,785,194.50 |
| Othercashpaidconcerningoperatingactivities | 353,646,315.85 | 317,887,654.67 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 12,127,170,869.04 | 10,572,507,980.17 |
| Netcashflowsarisingfromoperatingactivities | -759,367,352.29 | -864,716,289.96 |
| II.Cashflowsarisingfrominvestingactivities: |
| Cashreceivedfromrecoveringinvestment | ||
| Cashreceivedfrominvestmentincome | 1,053,000.00 | 757,007.78 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 72,078.73 | 5,685,052.04 |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | 44,000,000.00 | |
| Subtotalofcashinflowfrominvestingactivities | 1,125,078.73 | 50,442,059.82 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 52,402,499.52 | 50,791,078.84 |
| Cashpaidforinvestment | 20,122,074.00 | |
| Netincreaseofmortgagedloans | ||
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | 2,761.38 | 43,999,800.00 |
| Subtotalofcashoutflowfrominvestingactivities | 72,527,334.90 | 94,790,878.84 |
| Netcashflowsarisingfrominvestingactivities | -71,402,256.17 | -44,348,819.02 |
| III.Cashflowsarisingfromfinancingactivities | ||
| Cashreceivedfromabsorbinginvestment | 4,392,000.00 | 11,493,200.00 |
| Including:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiaries | 4,392,000.00 | 11,493,200.00 |
| Cashreceivedfromloans | 10,000,000.00 | 13,671,657.79 |
| Cashreceivedfromissuingbonds | ||
| Othercashreceivedconcerningfinancingactivities | 170,881,105.78 | 101,823,564.80 |
| Subtotalofcashinflowfromfinancingactivities | 185,273,105.78 | 126,988,422.59 |
| Cashpaidforsettlingdebts | 66,561,634.53 | 60,000,000.00 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 84,053,395.41 | 30,822,293.85 |
| Including:Dividendandprofitofminorityshareholderpaidbysubsidiaries | 2,581,864.12 | |
| Othercashpaidconcerningfinancingactivities | 3,976,889.98 | 3,127,895.57 |
| Subtotalofcashoutflowfromfinancingactivities | 154,591,919.92 | 93,950,189.42 |
| Netcashflowsarisingfromfinancingactivities | 30,681,185.86 | 33,038,233.17 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 605.19 | |
| V.Netincreaseofcashandcashequivalents | -800,087,817.41 | -876,026,875.81 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 7,641,958,558.92 | 3,673,498,691.48 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 6,841,870,741.51 | 2,797,471,815.67 |
6.CashFlowStatementofParentCompany
InRMB
| Item | Currentperiod | Lastperiod |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 979,117,418.50 | 762,534,474.46 |
| Write-backoftaxreceived | ||
| Othercashreceivedconcerningoperatingactivities | 8,959,448.01 | 35,545,170.43 |
| Subtotalofcashinflowarisingfromoperatingactivities | 988,076,866.51 | 798,079,644.89 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 893,485,571.99 | 809,539,295.55 |
| Cashpaidto/forstaffandworkers | 31,401,584.94 | 28,353,128.47 |
| Taxespaid | 16,046,448.54 | 9,359,247.21 |
| Othercashpaidconcerningoperatingactivities | 9,310,459.60 | 5,064,967.04 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 950,244,065.07 | 852,316,638.27 |
| Netcashflowsarisingfromoperatingactivities | 37,832,801.44 | -54,236,993.38 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | ||
| Cashreceivedfrominvestmentincome | 16,895,775.01 | 15,164,809.14 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | ||
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | 442,400,000.00 | 567,200,000.00 |
| Subtotalofcashinflowfrominvestingactivities | 459,295,775.01 | 582,364,809.14 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 1,462,422.93 | 3,475,188.15 |
| Cashpaidforinvestment | ||
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | 629,400,000.00 | 564,900,000.00 |
| Subtotalofcashoutflowfrominvestingactivities | 630,862,422.93 | 568,375,188.15 |
| Netcashflowsarisingfrominvestingactivities | -171,566,647.92 | 13,989,620.99 |
| III.Cashflowsarisingfromfinancingactivities | ||
| Cashreceivedfromabsorbinginvestment |
| Cashreceivedfromloans | 10,000,000.00 | 10,000,000.00 |
| Cashreceivedfromissuingbonds | ||
| Othercashreceivedconcerningfinancingactivities | 4,517,196,050.81 | 3,631,131,894.36 |
| Subtotalofcashinflowfromfinancingactivities | 4,527,196,050.81 | 3,641,131,894.36 |
| Cashpaidforsettlingdebts | 10,000,000.00 | 10,000,000.00 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 6,245,437.77 | 9,054,055.96 |
| Othercashpaidconcerningfinancingactivities | 4,584,325,273.13 | 4,194,238,186.87 |
| Subtotalofcashoutflowfromfinancingactivities | 4,600,570,710.90 | 4,213,292,242.83 |
| Netcashflowsarisingfromfinancingactivities | -73,374,660.09 | -572,160,348.47 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 605.19 | |
| V.Netincreaseofcashandcashequivalents | -207,107,901.38 | -612,407,720.86 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 1,817,654,598.01 | 1,776,696,342.87 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 1,610,546,696.63 | 1,164,288,622.01 |
II.Explanationonfinancialstatementadjustment
1.Financialstatementadjustmentatthebeginningofthefirstyearwhenimplementationofnewfinancialinstrumentrules,newrevenuerulesandnewleasingrules
□Applicable√Notapplicable
2.Retrospectiveadjustmentofthecomparativedataforinitialimplementationofnewfinancialinstrumentrulesandnewleasingrules
□Applicable√Notapplicable
III.Auditreport
Whetherthefirstquarterlyreporthadbeenauditedornot□Yes√No
ThefirstquarterlyreportoftheCompanyhadnotbeenaudited.
ChinaNationalAccordMedicinesCorporationLtd.
Legalrepresentative:LinZhaoxiong
25April2019