Jincheng Pharm(300233)2020-04-27 16:00Financial Performance - Total operating revenue for Q1 2020 was CNY 650,685,404.33, an increase of 2.57% compared to CNY 634,385,558.13 in the same period last year[8]. - Net profit attributable to shareholders was CNY 101,030,988.13, reflecting a growth of 3.02% from CNY 98,071,895.99 year-on-year[8]. - Net profit after deducting non-recurring gains and losses reached CNY 99,564,127.60, up by 4.53% from CNY 95,248,544.54 in the previous year[8]. - Basic earnings per share increased to CNY 0.26, a rise of 4.00% compared to CNY 0.25 in the same quarter last year[8]. - The total profit for the current period is 120,290,804.99, slightly higher than 116,370,495.72 from the previous period, marking an increase of around 3.5%[130]. - The total comprehensive income attributable to the parent company's owners is 101,030,988.13, compared to 98,071,895.99 in the previous period, indicating an increase of approximately 3%[136]. Cash Flow - The net cash flow from operating activities was CNY 82,376,320.62, down by 3.66% from CNY 85,502,208.63 in the previous year[8]. - Cash inflow from operating activities totaled 540,843,636.84, a decrease from 551,926,086.69 in the previous period[141]. - Cash outflow from operating activities was 458,467,316.22, slightly down from 466,423,878.06 in the previous period[144]. - The cash and cash equivalents at the end of the period amounted to 1,001,465,378.99, up from 739,810,128.59 in the previous period[147]. - The cash flow from operating activities for the parent company was -10,817,347.95, compared to -4,325,123.38 in the previous period[148]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,605,609,774.13, a slight increase of 0.24% from CNY 5,592,390,582.02 at the end of the previous year[8]. - Total liabilities decreased from CNY 1,507,551,708.18 to CNY 1,443,919,651.63, a reduction of approximately 4.24%[114]. - Total equity increased from CNY 4,084,838,873.84 to CNY 4,161,690,122.50, reflecting a growth of about 1.89%[117]. - The company's accounts receivable decreased to CNY 688.65 million as of March 31, 2020, from CNY 715.89 million at the end of 2019, reflecting a decrease of approximately 3.2%[108]. Inventory and Contract Liabilities - Contract liabilities decreased by 58.30% to approximately 15.57 million yuan, primarily due to a reduction in advance payments from customers[24]. - Inventory shares increased by 57.94% to approximately 70.98 million yuan, mainly due to stock repurchases during the reporting period[24]. Research and Development - Research and development expenses decreased by 58.98% to approximately 23.71 million yuan, attributed to reduced R&D investments[25]. - The company has increased investment in product quality R&D to meet national standards and accelerate new product development[36]. Shareholder Information - The top ten shareholders held a combined 80.05% of the company's shares, with Beijing Jingsheng Investment Center holding the largest share at 25.05%[13]. Risk Management - The company faced risks related to pharmaceutical industry policies, including the impact of price reductions and procurement policies on drug sales[32]. - The company is implementing measures to mitigate risks associated with accounts receivable, including credit assessments and insurance[39]. - The company is actively responding to risks related to market supply and demand, raw material prices, and national policies, aiming to optimize production processes and improve gross profit margins[35]. Investment and Projects - The total amount of raised funds is 81,736.99 million, with 21.86% of the total amount being redirected for other uses[47]. - The AE-Active Ester new process project has achieved a completion rate of 96.87% with an investment of 7,900.96 million[47]. - The company adjusted the investment amount for the Cangzhou raw material project from 15,231.98 million to 7,771.88 million due to market changes[56].