一致B:2020年第一季度报告全文(英文版)查看PDF公告

股票简称:国药一致 股票代码:000028

1China National Accord Medicines Corporation Ltd.
First Quarterly Report 2020
April 2020
2Section I. Important Notes
Board of Directors and the Supervisory Committee of China National Accord
Medicines Corporation Ltd. (hereinafter referred to as the Company) and its
directors, supervisors and senior executives should guarantee the reality,
accuracy and completion of the quarterly report, there are no any fictitious
statements, misleading statements or important omissions carried in this report,
and shall take legal responsibilities, individual and/or joint.
All Directors are attended the Board Meeting for Quarterly Report deliberation.
Lin Zhaoxiong person in charge of the Company, Wei Pingxiao, person in
charger of accounting works and Wang Ying, person in charger of accounting
organ (accounting officer) hereby confirm that the Financial Report of this
Quarterly Report is authentic, accurate and complete.
3Section II. Company profile
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data
√ Yes □ No
Retrospective adjustment or restatement reasons
Business combination under the same control
Current Period
Same period of last year
Changes of this
period over same
period of last year
Before adjustment After adjustment After adjustment
Operating income (RMB)
12,824,196,278.66 11,879,309,078.82 12,071,656,553.13 6.23%
Net profit attributable to shareholders of the
listed company (RMB) (note 1)
248,800,655.88 300,149,012.08 299,451,036.34 -16.91%
Net profit attributable to shareholders of the
listed company after deducting
non-recurring gains and losses (RMB)
241,724,850.95 297,420,355.99 297,420,355.99 -18.73%
Net cash flow arising from operating
activities (RMB)
-688,273,848.63 -759,367,352.29 -788,378,287.50 12.70%
Basic earnings per share (RMB/Share) (note
1)
0.58 0.70 0.70 -17.14%
Diluted earnings per share (RMB/Share)
0.58 0.70 0.70 -17.14%
Weighted average ROE (note 1)
1.92% 2.55% 2.52%
0.60 percentage
point down
At the end of the
reporting period
At the end of last year
Changes of this
period-end over
same period-end of
last year
Before adjustment After adjustment After adjustment
Total assets (RMB)
36,882,640,680.62 30,855,284,546.74 34,030,520,217.82 8.38%
Net assets attributable to shareholder of
listed company (RMB)
13,062,640,261.41 11,918,581,615.36 12,911,706,424.61 1.17%
Description on retrospective adjustment:
In this year, the Company acquired 75% equity of Pudong New Area of Shanghai Pharmaceutical Medicine Ltd.under the same
control. When preparing the comparative statement of the consolidated statement for Q 1 of 2020, the parties involved in the merger
shall be regarded as existing in the current state when the final controlling party starts to implement the control, and the preliminary
comparative statement shall be adjusted.
Note 1: Net profit attributable to shareholders of the listed company has 16.91% down compared with same period last year, mainly
4because affected by the COVID-19 epidemic, sales growth of the Company slowed down in the first quarter, at the same time,
changes in industry policies also led to a narrowing of profit margins; while the basic EPS decreased by 17.14% correspondingly.
Weighted average ROE has 0.60 percentage points down compared with same period last year.
Items of non-recurring gains and losses
√ Applicable □ Not applicable
In RMB
Item
Amount from year-begin to
period-end
Note
Gains/losses from the disposal of non-current asset (including the
write-off that accrued for impairment of assets)
-438,158.53
Mainly for store rent-out and
fixed asset disposal losses.
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to
national standards, which are closely relevant to enterprise’s
business)
13,645,696.75
Mainly due to the Tax relief and
various special grants received in
the current period.
Switch back of provision for depreciation of account receivable
and contract assets that are individually tested for impairment
72,938.17
Consigning fee received for consigned operation
961,488.75
Other non-operating income and expenditure except for the
aforementioned items
-491,478.52
Other gains/losses satisfy a definition of extraordinary
gains/losses
257,186.89
Less: Impact on income tax
3,271,286.58
Impact on minority shareholders’ equity (post-tax)
3,660,582.00
Total
7,075,804.93 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to
the Public --- Extraordinary Profit/loss
II. Total number of shareholders at the end of this report period and top ten shareholders
1. Total number of common shareholders at the end of this report period and top ten common shareholders
In shares
Total common shareholders
at the end of report period
26,399
Total preference shareholders
with voting rights recovered at
0
5end of reporting period (if
applicable)
Top ten shareholders
Shareholder’s
name
Nature of
shareholder
Proportion of
shares held
Amount of shares
held
Amount of
restricted shares
held
Number of share pledged/frozen
State of share Amount
Sinopharm Group
Co., Ltd.
State-owned legal
person
56.06% 239,999,991 5,505,770
Hong Kong
Securities
Clearing
Company Ltd
Foreign
Corporation
4.55% 19,472,330
HTHK/CMG
FSGUFP-CMG
FIRST STATE
CHINA
GROWTH FD
Foreign
Corporation
2.68% 11,469,644
National Social
Security Fund-
portfolio 118
Domestic non
state-owned
Corporation
1.82% 7,774,799
China National
Pharmaceutical
Foreign Trade
Corp.
State-owned
Corporation
1.24% 5,323,043
Fidelity
Investment
Management
(Hong Kong)
Limited - Client’s
fund
Foreign
Corporation
1.09% 4,668,607
Central Huijin
Investment Ltd.
State-owned
Corporation
0.89% 3,804,400
BBH BOS S/A
FIDELITY FD -
CHINA FOCUS
FD
Foreign
Corporation
0.78% 3,358,761
Bank of China
Co., Ltd.-Harvest
Healthcare Equity
Securities
Investment Fund
Domestic non
state-owned
Corporation
0.67% 2,862,997
6Basic endowment
insurance fund-
portfolio 15061
Domestic non
state-owned
Corporation
0.55% 2,364,393
Top ten shareholders with unrestricted shares held
Shareholder’s name Amount of unrestricted shares held
Type of shares
Type Amount
Sinopharm Group Co., Ltd. 234,494,221
RMB ordinary
shares
234,494,221
Hong Kong Securities Clearing
Company Ltd
19,472,330
RMB ordinary
shares
19,472,330
HTHK/CMG FSGUFP-CMG FIRST
STATE CHINAGROWTH FD
11,469,644
Domestic listed
foreign shares
11,469,644
National Social Security Fund-
portfolio 118
7,774,799
RMB ordinary
shares
7,774,799
China National Pharmaceutical
Foreign Trade Corp.
5,323,043
RMB ordinary
shares
5,323,043
Fidelity Investment Management
(Hong Kong) Limited - Client’s fund
4,668,607
RMB ordinary
shares
4,668,607
Central Huijin Investment Ltd. 3,804,400
RMB ordinary
shares
3,804,400
BBH BOS S/A FIDELITY FD -
CHINA FOCUS FD
3,358,761
Domestic listed
foreign shares
3,358,761
Bank of China Co., Ltd.-Harvest
Healthcare Equity Securities
Investment Fund
2,862,997
RMB ordinary
shares
2,862,997
Basic endowment insurance fund-
portfolio 15061
2,364,393
RMB ordinary
shares
2,364,393
Explanation on associated
relationship among the aforesaid
shareholders
It is unknown that there exists no associated relationship or belongs to the consistent person
acting in concert among the other tradable shareholders regulated by the Management
Measure of Information Disclosure on Change of Shareholding for Listed Companies.
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.
72. Total shareholders with preferred stock held at Period-end and shares held by top ten shareholders with
preferred stock held
□Applicable √ Not applicable
8Section III. Significant Events
I. Particulars about material changes in items of main accounting statement and financial
index and explanations of reasons
√Applicable □Not applicable
1. Notes receivable: a decrease of 264.6581 million Yuan compared with the beginning of the period, with a growth rate of -33.59%,
mainly because affected by the GPO policy, the hospital customer procurement model has changed, and the settlement method has
also changed;
2. Advances to suppliers: an increase of 387.3169 million Yuan compared with the beginning of the period, with a growth rate of
99.36%, mainly because the prepayment of emergency special reserve materials for the prevention and control of COVID-19 and the
increase in the prepayments due on the import letter of credit ;
3. Dividend receivable: a decrease of 834,914.61 Yuan compared with the beginning of the period, with a growth rate of -100.00%,
mainly because dividends receivable from Shanghai Dingqun Enterprise Management Consulting Co., Ltd. in the same period of last
year, this company has been included in the scope of consolidation in the period, and there is no balance at the consolidation level
after internal offset;
4、Intangible assets: an increase of 260.2451 million Yuan compared with the beginning of the period, with a growth rate of 69.37%,
mainly because the sales network newly recognized in the period for the acquisition of Shanghai Dingqun Enterprise Management
Consulting Co., Ltd by subsidiary Guoda Drugstore;
5. Goodwill: an increase of 503.1178 million Yuan compared with the beginning of the period, with a growth rate of 49.81%, mainly
resulted by the acquisition of Shanghai Dingqun Enterprise Management Consulting Co., Ltd by subsidiary Guoda Drugstore in the
period;
6. Other non-current assets: an increase of 336.7663 million Yuan compared with the beginning of the period, with a growth rate of
435.35%, mainly because in order to preventing and controlling the COVID-19, to purchase emergency special reserve materials at
the request of the government;
7. Short-term borrowings: an increase of 1,332.2357 million Yuan compared with the beginning of the period, with a growth rate of
91.69%, mainly because the supply chain financing and special loans for prevention and control of the COVID-19 epidemic are
increased in the Period;
8. Other payables: an increase of 874.467 million Yuan compared with the beginning of the period, with a growth rate of 47.99%,
mainly due to the equity consideration payable for acquisition of Shanghai Dingqun Enterprise Management Consulting Co., Ltd by
subsidiary Guoda Drugstore in the period and the non-financial institution funds borrowing;
9. Dividend payable: an increase of 37.9886 million Yuan compared with the beginning of the period, with a growth rate of 594.56%,
mainly due to the dividend payable to original shareholders of Shanghai Dingqun Enterprise Management Consulting Co., Ltd.- the
subsidiary of the Company that included in the consolidate scope in the Period;
10、Deferred tax liabilities: an increase of 61.9156 million Yuan compared with the beginning of the period, with a growth rate of
52.16%, mainly because the value-added for fair value of the assets generated from acquisition of Shanghai Dingqun Enterprise
Management Consulting Co., Ltd by Guoda Drugstore in the Period, are recognized to corresponding the deferred income tax
liability;
11. Other non-current liabilities: an increase of 318.5282 million Yuan compared with the beginning of the period, with a growth rate
of 434.81%, mainly due to the advance payment for purchasing the government emergency special reserve materials in prevention
and controlling the COVID-19 epidemic;
12. Finance costs: an increase of 13.411 million Yuan on a year-on-year basis, with a growth rate of 85.97%, mainly due to the
9implementation of new leasing standards;
13. Impairment losses: an increase of 1.0819 million Yuan on a year-on-year basis, with a growth rate of 209.44%, mainly because
the provision for inventory decline in prices in the current period increased on a y-o-y basis;
14. Credit impairment losses: an increase of 12.4452 million Yuan on a year-on-year basis, with a growth rate of 282.86%, mainly
because the ending account receivable increased from a year earlier for the expansion of sales scale, and at the same time, affected by
COVID-19 epidemic, the turnover days of receivables have increased, and the provision for bad debts have increased accordingly.
15. Other incomes: an increase of 12.0434 million Yuan on a year-on-year basis, with a growth rate of 1,105.17%, mainly because the
increase of Tax relief and various special grants received in this period;
16. Investment income: a decrease of 22.707 million Yuan on a year-on-year basis, with a growth rate of -34.73%, mainly because the
investment income from associates declined from a year earlier;
17. Gain on disposal of assets: a decrease of 247,055.53 Yuan on a year-on-year basis, with a growth rate of -1,738.69%, mainly due
to the loss from surrender of retail premises for implementing the new leasing standard, while no such matter occurred last year;
18. Non-operating expenses: an increase of 1.3356 million Yuan on a year-on-year basis, with a growth rate of 356.39%, mainly due
to the increase in fines in this period;
19. Other cash receipts relating to operating activities: an increase of 295.9483 million Yuan on a year-on-year basis, with a growth
rate of 215.29%, mainly due to the receipt of special reserve funds for the prevention and control of the COVID-19, no such matter in
the same period of last year;
20. Cash received from returns on investments: a decrease of 1.053 million Yuan on a year-on-year basis, with a growth rate of
-100.00%, mainly because received cash dividends from associates in the same period of last year, while no such matter in the
period;
21. Net cash received from disposal of fixed assets, intangible assets and other long-term assets: an increase of 35,352.18 Yuan on a
year-on-year basis, with a growth rate of 49.05%, mainly due to the increase in cash received from the disposal of fixed assets during
the period;
22. Other cash receipts relating to investing activities: a decrease of 166.5 million Yuan on a year-on-year basis, with a growth rate of
-88.33%, mainly because in the period, the Pudong New Area of Shanghai Pharmaceutical Medicine Ltd was merged by subsidiary
Guoda Drugstore under the same control, and received an account from the cash pool of former parent company- Sinopharm Group
Co., Ltd, and recover the fund originally collected in the cash pool in the period;
23. Sub-total of cash inflows from investing activities: a decrease of 167.5176 million Yuan on a year-on-year basis, with a growth
rate of -88.34%, mainly because in the period, the Pudong New Area of Shanghai Pharmaceutical Medicine Ltd was merged by
subsidiary Guoda Drugstore under the same control, and received an account from the cash pool of former parent company-
Sinopharm Group Co., Ltd, and recover the fund originally collected in the cash pool in the period;
24. Cash payments for investments: a decrease of 8.781 million Yuan on a year-on-year basis, with a growth rate of -43.64%, mainly
because the transfer amount paid for retail store acquisition by subsidiary Guoda Drugstore declined from a year earlier;
25. Net cash paid for acquisition of subsidiaries and other business units: an increase of 664.8827 million Yuan on a year-on-year
basis, with a growth rate of 100%, mainly due to the net cash paid for acquisition of Shanghai Dingqun Enterprise Management
Consulting Co., Ltd from subsidiary Guoda Drugstore, and no such matter in the same period of last year;
26. Other cash payments relating to investing activities: a decrease of 116.5382 million Yuan on a year-on-year basis, with a growth
rate of -73.80%, mainly because in the period, the Pudong New Area of Shanghai Pharmaceutical Medicine Ltd was merged by
subsidiary Guoda Drugstore under the same control, the cash pool was collected to former parent company- Sinopharm Group Co.,
Ltd, while no such matter in the period;
27. Sub-total of cash outflows from investing activities: an increase of 535.6961 million Yuan on a year-on-year basis, with a growth
rate of 230.80%, mainly due to the net cash paid for acquisition of Shanghai Dingqun Enterprise Management Consulting Co., Ltd
from subsidiary Guoda Drugstore, and no such matter in the same period of last year;
28. Net cash flows from investing activities: a decrease of 703.2137 million Yuan on a year-on-year basis, with a growth rate of
-1,655.61%, mainly due to the net cash paid for acquisition of Shanghai Dingqun Enterprise Management Consulting Co., Ltd from
10
subsidiary Guoda Drugstore, and no such matter in the same period of last year;
29. Cash proceeds from investments by others: a decrease of 4.392 million Yuan on a year-on-year basis, with a growth rate of -100%,
mainly because received capital increase from minority shareholders in the same period last year while no such matter in the period;
30. Cash received from borrowings: an increase of 276.202 million Yuan on a year-on-year basis, with a growth rate of 2,762.02%,
mainly because received special loan funds for the prevention and control of the COVID-19 in this period, and bank loans increased;
31. Other cash receipts relating to financing activities: an increase of 138.1731 million Yuan on a year-on-year basis, with a growth
rate of 69.48%, mainly because the return of money order received in the period has increased from a year earlier, and received funds
borrowed from non-financial institutions, while no such matter in the same period of last year;
32. Sub-total of cash inflows from financing activities: an increase of 409.9831 million Yuan on a year-on-year basis, with a growth
rate of 192.23%, mainly because received special loan funds for the prevention and control of the COVID-19 in this period, and the
money order deposit received in the period increased on a y-o-y basis;
33. Cash repayments for debts: an increase of 75.5384 million Yuan on a year-on-year basis, with a growth rate of 113.49%, mainly
due to the increase in repayment of loans in the period;
34. Other cash payments relating to financing activities: an increase of 441.6207 million Yuan on a year-on-year basis, with a growth
rate of 1,381.06%, mainly because implement the new leasing standard, and the investment paid for merged of Pudong New Area of
Shanghai Pharmaceutical Medicine Ltd under the same control from subsidiary Guoda Drugstore;
35. Sub-total of cash outflows from financing activities: an increase of 497.1017 million Yuan on a year-on-year basis, with a growth
rate of 271.24%, mainly because implement the new leasing standard, and the investment paid for merged of Pudong New Area of
Shanghai Pharmaceutical Medicine Ltd under the same control from subsidiary Guoda Drugstore;
36. Net cash flows from financing activities: a decrease of 87.1187 million Yuan on a year-on-year basis, with a growth rate of
-290.37%, mainly because implement the new leasing standard, and the investment paid for merged of Pudong New Area of
Shanghai Pharmaceutical Medicine Ltd under the same control from subsidiary Guoda Drugstore;
37. Effect of foreign exchange rate changes on cash and cash equivalents: a decrease of 239.99Yuan on a year-on-year basis, with a
growth rate of -39.66%, mainly due to the impact of exchange rate fluctuations;
38. Net increase of cash and cash equivalents: a decrease of 690.2282 million Yuan on a year-on-year basis, with a growth rate of
-86.19%, mainly due to the net cash paid by the acquisition of Shanghai Dingqun Enterprise Management Consulting Co., Ltd. and
the investment payment for the merger of Pudong New Area of Shanghai Pharmaceutical Medicine Ltd under the same control from
subsidiary Guoda Drugstore, no such matter in the same period of last year.
II. Analysis and explanation of significant events and their influence and solutions
□Applicable √Not applicable
Progress of shares buy-back
□Applicable √Not applicable
Implementation progress of the reduction of repurchases shares by centralized bidding
□Applicable √Not applicable
III. Commitments completed in Period and those without completed till end of the Period
from actual controller, shareholders, related parties, purchaser and companies
□Applicable √ Not applicable
The Company has no commitments completed in Period and those without completed till end of the Period from actual controller,
shareholders, related parties, purchaser and companies.
11
IV. Securities investment
□Applicable √ Not applicable
No security investment in the Period.
V. Trust financing
□Applicable √ Not applicable
No trust financing in the Period.
VI. Derivative investment
□Applicable √ Not applicable
No derivative investment in the Period.
VII. Registration form for receiving research, communication and interview in the report
period
□Applicable √Not applicable
The Company had no receiving research, communication or interview in the report period.
VIII. Guarantee outside against the regulation
□Applicable √Not applicable
The Company had no guarantee outside against the regulation in the period.
IX. Non-operational fund occupation from controlling shareholders and its related party
□Applicable √ Not applicable
The Company had no non-operational fund occupation form controlling shareholders and its related party in the period.
12
Section IV. Financial Statement
I. Financial statement
1. Consolidate balance sheet
Prepared by China National Accord Medicines Corporation Ltd.
In RMB
Items 2020-3-31 2019-12-31
Current assets:
Cash and bank balances 7,343,918,788.98 8,885,729,250.47
Settlement provisions
Capital lent
Trading financial assets
Derivative financial assets
Notes receivable 523,366,192.20 788,024,326.05
Accounts receivable 12,800,950,512.29 10,712,983,544.18
Receivables financing 488,648,048.49 451,619,951.05
Advances to suppliers 777,145,678.93 389,828,785.54
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other receivables 601,307,772.09 501,958,841.43
Including: Interest receivable - -
Dividend receivable - 834,914.61
Buying back the sale of financial
assets
Inventories 5,906,648,659.90 5,063,274,143.26
Contractual assets
Assets held for sale
Non-current asset due within one
year
Other current assets 102,839,050.54 102,207,498.20
Total current assets 28,544,824,703.42 26,895,626,340.18
13
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 2,148,499,112.76 2,105,114,410.88
Other equity instrument
investment
116,021,000.00 116,021,000.00
Other non-current financial assets 140,000,000.00 140,000,000.00
Investment properties 137,294,164.25 138,900,358.30
Fixed assets 705,749,195.67 709,320,467.92
Construction in progress 22,928,901.67 31,582,575.84
Productive biological asset
Oil and gas asset
Right-of-use assets 2,067,046,282.85 1,994,757,862.07
Intangible assets 635,390,640.10 375,145,507.81
Expense on Research and
Development
Goodwill 1,513,175,733.86 1,010,057,927.17
Long-term prepaid expenses 359,836,930.28 373,527,968.14
Deferred tax assets 77,752,777.11 63,110,829.12
Other non-current asset 414,121,238.65 77,354,970.39
Total non-current asset 8,337,815,977.20 7,134,893,877.64
Total assets 36,882,640,680.62 34,030,520,217.82
Current liabilities:
Short-term borrowings 2,785,253,982.80 1,453,018,300.01
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Notes payable 4,680,238,916.43 5,555,697,557.53
Accounts payable 7,674,022,927.20 6,703,967,826.54
Accounts received in advance - -
Contract liabilities 310,277,865.26 303,194,940.70
14
Selling financial asset of
repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
Employee benefits payable 191,026,038.97 259,640,813.10
Taxes payable 215,540,339.83 253,379,524.34
Other payables 2,696,831,680.78 1,822,364,637.62
Including: Interest payable 19,775,863.45 23,632,632.90
Dividend payable 44,377,935.76 6,389,320.96
Commission charge and
commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within
one year
619,613,745.74 611,917,847.37
Other current liabilities 810,273.49 749,710.19
Total current liabilities 19,173,615,770.50 16,963,931,157.40
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liabilities 1,261,824,990.27 1,208,453,029.51
Long-term payables 800,000.00 800,000.00
Long-term employee benefits
payable
1,433,000.00 1,433,000.00
Accrual liability
Deferred income 87,487,310.49 88,704,272.88
Deferred tax liabilities 180,619,768.58 118,704,213.68
Other non-current liabilities 391,784,710.75 73,256,514.93
Total non-current liabilities 1,923,949,780.09 1,491,351,031.00
Total liabilities 21,097,565,550.59 18,455,282,188.40
15
Owner’s equity:
Share capital 428,126,983.00 428,126,983.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital surplus 4,372,907,637.11 4,470,766,959.44
Less: Inventory shares
Other comprehensive income 45,909,846.02 45,917,342.77
Reasonable reserve
Surplus reserves 214,063,491.50 214,063,491.50
Provision of general risk
Retained earnings 8,001,632,303.78 7,752,831,647.90
Shareholders’ equity attributable to
shareholders of the parent
13,062,640,261.41 12,911,706,424.61
Non-controlling interests 2,722,434,868.62 2,663,531,604.81
Total shareholders’ equity 15,785,075,130.03 15,575,238,029.42
Total liabilities and shareholders’ equity 36,882,640,680.62 34,030,520,217.82
Legal Representative: Lin Zhaoxiong
Person in charge of accounting works: Wei Pingxiao
Person in charge of accounting institute: Wang Ying
2. Balance Sheet of Parent Company
In RMB
Item 2020-3-31 2019-12-31
Current assets:
Cash and bank balances 2,822,146,959.33 2,909,417,289.71
Trading financial assets
Derivative financial assets
Notes receivable 12,331,708.43 14,900,068.42
Accounts receivable 594,814,676.12 571,544,784.65
Receivable financing 3,377,820.85 30,194,682.11
Advances to suppliers 13,142,791.24 7,996,243.28
16
Other receivables 2,084,765,484.28 1,928,941,595.38
Including: Interest receivable
Dividend receivable 834,914.61 834,914.61
Inventories 216,005,001.01 169,422,075.78
Contractual assets
Assets held for sale
Non-current assets maturing within
one year
Other current assets 39,482.38 39,482.38
Total current assets 5,746,623,923.64 5,632,456,221.71
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments 7,736,253,202.12 7,698,756,525.83
Investment in other equity
instrument
Other non-current financial assets 140,000,000.00 140,000,000.00
Investment properties 1,476,181.93 1,484,198.56
Fixed assets 13,843,610.76 14,763,656.62
Construction in progress
Productive biological assets
Oil and natural gas assets
Right-of-use assets 5,937,816.70 6,217,504.50
Intangible assets 5,489,250.88 5,838,737.17
Research and development costs
Goodwill
Long-term prepaid expenses 5,620,360.05 6,130,534.55
Deferred tax assets 9,301,194.10 9,327,850.53
Other non-current assets 24,058,875.73 9,000,000.00
Total non-current assets 7,941,980,492.27 7,891,519,007.76
Total assets 13,688,604,415.91 13,523,975,229.47
Current liabilities
Short-term borrowings 165,998,444.54 121,350,644.36
Trading financial liability
17
Derivative financial liability
Notes payable 451,394,209.68 751,577,900.22
Accounts payable 353,628,404.84 322,436,681.01
Accounts received in advance
Contract liabilities 11,429,537.40 7,293,184.46
Employee benefits payable 19,083,766.42 30,469,777.88
Taxe payable 11,257,362.50 22,909,124.90
Other payables 2,366,308,945.51 2,120,794,765.05
Including: Interest payable 509,597.78 861,110.53
Dividend payable
Liability held for sale
Non-current liabilities due within
one year
32,651,734.15 32,640,325.77
Other current liabilities 314,047.05 338,196.81
Total current liabilities 3,412,066,452.09 3,409,810,600.46
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Lease liabilities 5,203,186.76 5,461,257.38
Long-term payables 800,000.00 800,000.00
Long term employee compensation
payable
Accrued liabilities
Deferred income 1,164,438.54 1,276,698.66
Deferred income tax liabilities
Other non-current liabilities 90,748,869.74
Total non-current liabilities 97,916,495.04 7,537,956.04
Total liabilities 3,509,982,947.13 3,417,348,556.50
Owners’ equity:
Share capital 428,126,983.00 428,126,983.00
Other equity instrument
Including: preferred stock
18
Perpetual capital
securities
Capital public reserve 4,468,385,307.32 4,468,385,307.32
Less: Inventory shares
Other comprehensive income -133,366.19 -133,366.19
Special reserve
Surplus reserves 214,063,491.50 214,063,491.50
Retained earnings 5,068,179,053.15 4,996,184,257.34
Total shareholders’ equity 10,178,621,468.78 10,106,626,672.97
Total liabilities and shareholders’ equity 13,688,604,415.91 13,523,975,229.47
3. Consolidated Profit Statement
In RMB
Item Current period Last period
I. Total operating revenue 12,824,196,278.66 12,071,656,553.13
Including: operating revenue 12,824,196,278.66 12,071,656,553.13
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating costs 12,488,521,944.35 11,708,131,977.39
Including: Operating cost 11,370,970,742.96 10,734,553,498.15
Interest expense
Commission charge and
commission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance
contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Tax and surcharges 29,109,421.79 30,631,231.08
Selling expenses 844,624,826.78 742,825,433.15
Administrative expense 214,805,866.61 184,521,686.12
R&D expense
19
Finance costs 29,011,086.21 15,600,128.89
Including: Interest cost 60,067,901.98 44,592,359.04
Interest income 29,094,889.11 29,675,288.29
Add: other incomes 13,133,111.50 1,089,732.58
Investment income (Loss is
listed with “-”)
42,676,071.54 65,383,095.99
Including: Investment income
from associates
60,020,272.13 81,891,387.17
Income from the derecognition
of financial assets measured at amortised
cost
-18,342,866.43 -16,508,291.18
Exchange income (Loss is
listed with “-”)
Net exposure hedging income
(Loss is listed with “-”)
Income from change of fair
value (Loss is listed with “-”)
Credit impairment losses (Loss
is listed with “-”)
-16,845,052.13 -4,399,838.33
Impairment losses (Loss is
listed with “-”)
-1,598,436.71 -516,563.77
Gain on disposal of assets
(Loss is listed with “-”)
-261,264.83 -14,209.30
III. Operating profit (Loss is listed with
“-”)
372,778,763.68 425,066,792.91
Add: Non-operating income 1,811,729.05 1,840,452.50
Less: Non-operating expenses 1,710,329.13 374,748.81
IV. Total profit (Loss is listed with “-”) 372,880,163.60 426,532,496.60
Less: Income taxes 77,791,885.48 81,751,622.22
V. Net profit (Net loss is listed with “-”) 295,088,278.12 344,780,874.38
(i) Classify by business continuity
1. Net profit from continuous
operation (net loss listed with ‘-”)
295,088,278.12 344,780,874.38
2. Net profit from discontinued
operation (net loss listed with ‘-”)
(ii) Classify by ownership
1. Owners of the parent 248,800,655.88 299,451,036.34
20
2. Non-controlling interests 46,287,622.24 45,329,838.04
VI. Net after-tax of other comprehensive
income
Net after-tax of other comprehensive
income attributable to owners of parent
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial assets
re-classify to other comprehensive
income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging reserve
6.Translation differences
arising on translation of foreign currency
financial statements
7.Other
21
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income 295,088,278.12 344,780,874.38
Total comprehensive income
attributable to shareholders of the parent
248,800,655.88 299,451,036.34
Total comprehensive income
attributable to non-controlling interests
46,287,622.24 45,329,838.04
VIII. Earnings per share:
(i) Basic earnings per share 0.58 0.70
(ii) Diluted earnings per share 0.58 0.70
Enterprise combine under the same control in the Period, the combined party realized net profit of -2,057,252.42 Yuan before
combination, and realized 1,711,604.94 Yuan at last period for combined party
Legal Representative: Lin Zhaoxiong
Person in charge of accounting works: Wei Pingxiao
Person in charge of accounting institute: Wang Ying
4. Profit Statement of Parent Company
In RMB
Item Current period Last period
I. Operating revenue 883,090,683.07 980,473,288.29
Less: Operating costs 850,760,365.77 941,804,760.61
Tax and surcharges 1,011,193.50 1,316,238.98
Selling expenses 16,302,891.84 14,925,549.11
Administrative expenses 22,374,408.72 14,279,164.82
R&D expenses
Finance costs -22,842,676.94 -14,512,152.70
Including: Interest cost 9,151,290.82 9,720,694.28
Interest income 32,061,791.21 24,381,516.96
Add: other incomes 293,056.51 193,207.80
Investment income (Loss is
listed with “-”)
60,592,685.27 87,255,527.95
Including: Investment income
from associates
60,134,457.45 87,865,487.39
22
Income from the derecognition
of financial assets measured at
amortised cost
-540,438.02 -609,959.44
Net exposure hedging income
(Loss is listed with “-”)
Changing income of fair
value (Loss is listed with “-”)
Credit impairment losses
(Loss is listed with “-”)
-973,888.89
Impairment losses (Loss is
listed with “-”)
217,422.14 -361,970.94
Income on disposal of assets
(Loss is listed with “-”)
II. Operating profit (Loss is listed with
“-”)
75,613,775.21 109,746,492.28
Add: Non-operating income 1,578.11 45,736.26
Less: Non-operating expenses
III. Total Profit (Loss is listed with “-”) 75,615,353.32 109,792,228.54
Less: Income taxes 3,620,557.51 5,482,579.40
IV. Net profit (Net loss is listed with
“-”)
71,994,795.81 104,309,649.14
(i) Net profit from continuous operation
(net loss listed with ‘-”)
71,994,795.81 104,309,649.14
(ii) Net profit from discontinued
operation (net loss listed with ‘-”)
V. Net after-tax of other comprehensive
income
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
23
4.Fair value change of
enterprise's credit risk
5. Other
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial
assets re-classify to other
comprehensive income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging
reserve
6.Translation differences
arising on translation of foreign
currency financial statements
7.Other
VI. Total comprehensive income 71,994,795.81 104,309,649.14
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated Cash Flow Statement
In RMB
Item Current period Last period
I. Cash flows from operating activities:
Cash received from sale of
goods or rendering of services
13,201,992,638.81 11,447,434,730.14
Net increase of customer deposit
and interbank deposit
Net increase of loan from central
bank
24
Net increase of capital borrowed
from other financial institution
Cash received from original
insurance contract fee
Net cash received from reinsurance
business
Net increase of insured savings
and investment
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Net cash received by agents in sale
and purchase of securities
Receipts of taxes and surcharges
refunds
775,261.38 -
Other cash receipts relating to
operating activities
433,415,062.71 137,466,777.68
Sub-total of cash inflows from
operating activities
13,636,182,962.90 11,584,901,507.82
Cash paid for goods and services 12,827,089,312.11 11,082,205,912.68
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
Cash paid for original insurance
contract compensation
Net increase of capital lent
Cash paid for interest, commission
charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to and on behalf of
employees
703,922,606.95 594,165,778.91
Cash paid for all types of taxes 368,976,475.15 328,266,367.46
Other cash payments relating to
operating activities
424,468,417.32 368,641,736.27
25
Sub-total of cash outflows from
operating activities
14,324,456,811.53 12,373,279,795.32
Net cash flows from operating activities -688,273,848.63 -788,378,287.50
II. Cash flows from investing activities:
Cash received from recovering
investment
Cash received from returns on
investments
1,053,000.00
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets
107,430.91 72,078.73
Net cash received from disposal of
subsidiaries and other units
Other cash receipts relating to
investing activities
22,000,000.00 188,500,000.00
Sub-total of cash inflows from
investing activities
22,107,430.91 189,625,078.73
Cash paid for acquisition of fixed
assets intangible assets and other
long-term assets
50,207,587.50 54,074,916.12
Cash payments for investments 11,341,032.15 20,122,074.00
Net increase of mortgaged loans
Net cash paid for acquisition of
subsidiaries and other business units
664,882,681.20
Other cash payments relating to
investing activities
41,364,521.11 157,902,761.38
Sub-total of cash outflows from
investing activities
767,795,821.96 232,099,751.50
Net cash flows from investing activities -745,688,391.05 -42,474,672.77
III. Cash flows from financing activities
Cash proceeds from investments
by others
4,392,000.00
Including: Cash proceeds from
subsidiary investments by
non-controlling shareholders
4,392,000.00
Cash received from borrowings 286,202,002.73 10,000,000.00
Other cash receipts relating to
financing activities
337,054,182.02 198,881,105.78
26
Sub-total of cash inflows from
financing activities
623,256,184.75 213,273,105.78
Cash repayments for debts 142,100,000.00 66,561,634.53
Cash payments for distribution of
dividends or profit and interest
expenses
64,675,017.27 84,732,347.73
Including: Profit and dividends
paid to non-controlling shareholders of
subsidiaries
1,558,470.71
Other cash payments relating to
financing activities
473,597,592.59 31,976,889.98
Sub-total of cash outflows from
financing activities
680,372,609.86 183,270,872.24
Net cash flows from financing activities -57,116,425.11 30,002,233.54
IV. effect of foreign exchange rate
changes on cash and cash equivalents
365.20 605.19
V. Net increase of cash and cash
equivalents
-1,491,078,299.59 -800,850,121.54
Add: Cash and cash equivalents at
beginning of the year
8,426,071,170.16 7,644,975,994.75
VI. Cash and cash equivalents at end of
year
6,934,992,870.57 6,844,125,873.21
6. Cash Flow Statement of Parent Company
In RMB
Item Current period Last period
I. Cash flows from operating activities:
Cash received from sale of goods
or rendering of services
1,062,518,589.11 979,117,418.50
Receipts of taxes and surcharges
refunds
Other cash receipts relating to
operating activities
22,736,474.18 8,959,448.01
Sub-total of cash inflows from
operating activities
1,085,255,063.29 988,076,866.51
Cash paid for goods and services 1,207,589,273.35 893,485,571.99
Cash paid to and on behalf of
employees
39,968,369.74 31,401,584.94
27
Cash paid for all types of taxes 20,509,993.91 16,046,448.54
Other cash payments relating to
operating activities
14,820,413.79 9,310,459.60
Sub-total of cash outflows from
operating activities
1,282,888,050.79 950,244,065.07
Net cash flows from operating activities -197,632,987.50 37,832,801.44
II. Cash flows from investing activities:
Cash received from recovering
investment
13,636,447.00
Cash received from returns on
investments
16,895,775.01
Net cash received from disposal of
fixed, intangible and other long-term
assets
Net cash received from disposal of
subsidiaries and other units
Other cash receipts relating to
investing activities
602,709,245.48 442,400,000.00
Sub-total of cash inflows from
investing activities
616,345,692.48 459,295,775.01
Cash paid for acquisition of fixed
assets intangible assets and other
long-term assets
670,760.44 1,462,422.93
Cash paid for investment
Net cash received from
subsidiaries and other units obtained
Other cash payments relating to
investing activities
792,214,521.11 629,400,000.00
Sub-total of cash outflows from
investing activities
792,885,281.55 630,862,422.93
Net cash flows from investing activities -176,539,589.07 -171,566,647.92
III. Cash flows from financing activities
Cash received from absorbing
investment
Cash received from borrowings 24,694,789.52 10,000,000.00
Other cash receipts relating to
financing activities
8,004,663,212.88 4,517,196,050.81
28
Sub-total of cash inflows from
financing activities
8,029,358,002.40 4,527,196,050.81
Cash repayments for debts 12,100,000.00 10,000,000.00
Cash payments for distribution of
dividends or profit and interest
expenses
9,363,675.10 6,245,437.77
Other cash payments relating to
financing activities
7,724,025,779.65 4,584,325,273.13
Sub-total of cash outflows from
financing activities
7,745,489,454.75 4,600,570,710.90
Net cash flows from financing activities 283,868,547.65 -73,374,660.09
IV. effect of foreign exchange rate
changes on cash and cash equivalents
365.20 605.19
V. Net increase of cash and cash
equivalents
-90,303,663.72 -207,107,901.38
Add: Cash and cash equivalents at
beginning of the year
2,894,333,956.38 1,817,654,598.01
VI. Cash and cash equivalents at end of
year
2,804,030,292.66 1,610,546,696.63
II. Explanation on financial statement adjustment
1. Financial statement adjustment at the beginning of the first year when implementation of new revenue
rules and new leasing rules from 2020
□Applicable √Not applicable
2. Retrospective adjustment of the comparative data for initial implementation of new revenue rules and
new leasing rules from 2020
□Applicable √Not applicable
III. Audit report
Whether the 1
st
quarterly report has been audited or not
□Yes √ No
1Q report of the Company is unaudited.
China National Accord Medicines Corporation Ltd.
Legal representative: Lin Zhaoxiong
25 April 2020