Financial Performance - The total revenue for 2022 was CNY 9,446,925,267.13, representing a 3.68% increase compared to 2021[19]. - The net profit attributable to shareholders for 2022 was CNY 1,163,649,615.44, which is a 24.36% increase from the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 1,088,710,800.45, reflecting a 25.09% increase year-on-year[19]. - The basic earnings per share for 2022 was CNY 1.1235, up 25.26% from CNY 0.8969 in 2021[20]. - The weighted average return on equity increased to 11.71% in 2022, up by 1.93 percentage points from 2021[20]. - The total assets at the end of 2022 were CNY 14,482,536,656.83, a 5.90% increase compared to the end of 2021[19]. - The net cash flow from operating activities for 2022 was CNY 1,341,669,648.48, showing a slight increase of 0.06% from the previous year[19]. - The total net assets attributable to shareholders at the end of 2022 were CNY 10,022,611,149.67, a 1.18% increase from the end of 2021[19]. - The company achieved a total operating revenue of RMB 9,446,925,267.13, representing a year-on-year increase of 3.68%[34]. - The operating cost for the period was RMB 4,231,814,948.90, which increased by 5.01% compared to the previous year[34]. Dividend Distribution - The company plans to distribute a cash dividend of 2.89 CNY per 10 shares to all shareholders, resulting in an estimated total cash dividend of approximately 300.49 million CNY based on the current total share count[6]. - The total cash dividend for 2022, including the semi-annual dividend, is expected to be around 891.74 million CNY, representing a cash dividend payout ratio of approximately 76.63%[6]. - The total cash dividend for the year 2022 amounted to RMB 891,739,671.02, accounting for 76.63% of the net profit attributable to ordinary shareholders in the consolidated financial statements[129]. - The cash dividend per 10 shares for the year 2022 is proposed to be RMB 2.89 (including tax), with an estimated total cash dividend of RMB 300,492,807.79 based on the share count as of December 31, 2022[129]. Corporate Governance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[5]. - The company has confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[5]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[8]. - The company has established a clear and independent business operation, with no overlap in major product structures with the controlling shareholder[94]. - The company has continuously improved its internal control and compliance management system, ensuring effective operation and risk assessment[94]. - The company has established an independent financial department with a standardized accounting system, ensuring no interference from the controlling shareholder[94]. - The company has held five shareholder meetings in 2022, addressing key issues such as amendments to the articles of association and the approval of the 2021 restricted stock incentive plan[96]. Research and Development - The company launched 17 generic drugs and 6 active pharmaceutical ingredients in 2022, enhancing its R&D pipeline and technical innovation capabilities[25]. - The company reported a total of CNY 74,938,814.99 in non-recurring gains for 2022, compared to CNY 65,350,822.26 in 2021[22]. - The company has established a technology innovation committee in 2022 to enhance its R&D capabilities and collaboration with academic institutions[64]. - The company is focusing on differentiated innovation in the innovative drug sector, supported by recent regulatory improvements aimed at accelerating drug approval processes[27]. - The company aims to enhance its innovation culture and attract high-level R&D talent to accelerate the development of innovative drugs[65]. Market Strategy - The company aims to become a world-class pharmaceutical enterprise driven by innovation, focusing on chronic disease management, specialty business, and infusion business during the "14th Five-Year Plan" period[28]. - The company is actively participating in the ongoing reforms in the pharmaceutical industry, ensuring compliance with new regulations and enhancing operational efficiency[27]. - The company is committed to providing economical, safe, and effective medications to patients, responding to the increasing clinical demand driven by an aging population and rising life expectancy[27]. - The company is exploring digital economy developments in the healthcare sector, particularly in chronic disease management, to reduce costs and enhance specialization[57]. Acquisitions and Investments - The company acquired a 50.11% stake in Shenzhou Biotechnology, enhancing its capabilities in the biopharmaceutical sector[25]. - The company increased its stake in Tiandong Pharmaceutical to 70% by purchasing 31.25% from China Resources Pharmaceutical for RMB 307,187,500[41]. - The company has engaged Ernst & Young Hua Ming as its auditor for the 2022 fiscal year, with an audit fee of 2.22 million yuan[166]. - The company has completed the industrial and commercial change registration for the acquisition of Tiandong Pharmaceutical[171]. Environmental Responsibility - The company has established an environmental protection mechanism and complies with relevant regulations without any need for rectification[139]. - The company has reported no instances of exceeding emission standards for major pollutants during the reporting period[141]. - The company has implemented carbon reduction measures, including the use of photovoltaic power generation and energy-saving equipment, resulting in zero reduction in carbon dioxide equivalent emissions for the reporting period[151]. - The company has initiated a new round of environmental protection and carbon reduction projects, demonstrating a commitment to sustainable development and low-carbon transformation[153]. Employee and Executive Management - The total pre-tax compensation for executives in the reporting period amounted to 1,688.90 million yuan[99]. - The company has a total of 5,764 production staff, 2,919 sales staff, and 2,043 technical staff among its employees[121]. - The company has established a market-oriented compensation system that links employee performance to company performance[122]. - The company has implemented a performance-oriented evaluation and incentive mechanism for senior management, linking their compensation to the completion of annual operational goals[134]. Risks and Challenges - The company faces market competition risks in chronic disease medication and basic infusion fields, with plans to enhance product portfolio and expand into oncology and orthopedics to improve competitive advantage[91]. - There is a risk of product price declines due to normalized centralized procurement, which may affect the company's profitability; the company plans to adjust product structure and enhance quality through innovation[91]. - Rising production factor costs, including raw materials and labor, pose a risk; the company aims to implement lean production and improve efficiency to mitigate these costs[91]. - New drug development is a complex and costly process with inherent risks; the company is focusing on project management and enhancing R&D efficiency as part of its "14th Five-Year Plan" strategy[91].

证券代码：600062 证券简称：华润双鹤 公告编号：临 2023－014 华润双鹤药业股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 重要内容提示： 会议召开时间：2023 年 4 月 4 日(星期二)下午 15:00-16:30 会议召开地点： 会议召开方式：现场、视频结合网络互动 投资者可于 2023 年 3 月 28 日(星期二)至 4 月 3 日(星期 一)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通 过公司邮箱 mss@dcpc.com 进行提问。公司将在说明会上对投资者普 遍关注的问题进行回答。 华润双鹤药业股份有限公司(以下简称"公司")于 2023 年 3 月 28 日发布公司 2022 年年度报告，为便于广大投资者更全面深入地了 解公司 2022 年度经营成果、财务状况，公司计划于 2023 年 4 月 4 日 (星期二)下午 15:00-16:30 举行 2022 年度业绩说明会，就投资者关心 的问题进行交流。 一、说明会类型 ...

Financial Performance - The company's operating revenue for Q3 2022 was CNY 2,247,367,643.53, representing a year-on-year increase of 0.09%[6]. - The net profit attributable to shareholders for Q3 2022 was CNY 242,045,871.54, a decrease of 17.80% compared to the same period last year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 234,539,946.15, down 15.37% year-on-year[6]. - Total operating revenue for the first three quarters of 2022 reached ¥7,158,192,142.29, an increase of 4.12% compared to ¥6,875,302,884.13 in the same period of 2021[22]. - Operating profit for the first three quarters of 2022 was ¥1,240,059,119.81, up from ¥1,093,229,461.30 in 2021, reflecting a growth of 13.43%[23]. - Net profit attributable to shareholders of the parent company for the first three quarters of 2022 was ¥978,682,608.84, compared to ¥889,041,877.58 in 2021, representing an increase of 10.06%[23]. - The company reported a net profit margin of approximately 14.26% for the first three quarters of 2022, compared to 13.45% in the same period of 2021[23]. - Basic earnings per share for the first three quarters of 2022 were ¥0.9534, an increase from ¥0.8522 in 2021, representing a growth of 11.56%[24]. Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 14,629,515,359.47, reflecting a 6.97% increase from the end of the previous year[8]. - The total liabilities decreased to CNY 7,403,909,901.76 from CNY 7,522,581,989.71, showing a reduction of about 1.58%[19]. - Total liabilities as of September 30, 2022, were ¥4,110,829,278.95, compared to ¥3,199,498,957.85 at the end of 2021, marking an increase of 28.43%[21]. - Total equity as of September 30, 2022, was ¥10,518,686,080.52, slightly up from ¥10,476,551,364.99 at the end of 2021, reflecting a growth of 0.40%[21]. Cash Flow - The company reported a net cash flow from operating activities of CNY 860,480,729.27 for the year-to-date, down 8.76% year-on-year[8]. - The net cash flow from operating activities for the first three quarters of 2022 was approximately ¥860.48 million, a decrease of 8.77% compared to ¥943.10 million in the same period of 2021[26]. - The total cash outflow from operating activities was approximately ¥5.95 billion in 2022, down 3.9% from ¥6.19 billion in 2021[26]. - The net cash flow from investment activities was approximately ¥10.56 million in 2022, a significant improvement from a negative cash flow of ¥506.35 million in 2021[27]. - The cash and cash equivalents at the end of the period increased to approximately ¥2.27 billion in 2022, compared to ¥1.56 billion in 2021, marking a growth of 45.7%[27]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 91,872[11]. - The largest shareholder, Beijing Pharmaceutical Group Co., Ltd., held 625,795,624 shares, accounting for 59.99% of the total shares[11]. - The top shareholder, He Qianchang, holds 2,184,300 shares, while the second-largest shareholder, Li Jishan, holds 2,134,500 shares[12]. - The company has not disclosed any relationships or concerted actions among the top ten unrestricted shareholders[12]. Investments and Financial Management - The company acquired 50.11% equity in Shenzhou Biotechnology Co., Ltd. on August 19, 2022, completing the transfer registration[13]. - The company also acquired 31.25% equity in Dongying Tiandong Pharmaceutical Co., Ltd. on September 26, 2022, with the board's approval on August 2, 2022[13]. - The company has entrusted financial management with a total amount of RMB 150 million, with an annualized return rate of 1.5% to 3.3%[14]. - Another entrusted financial management of RMB 200 million has an annualized return rate of 1.6% to 3.2%, with actual returns of RMB 3,093,011.31[15]. - The company has a total of RMB 250 million in entrusted financial management with an annualized return rate of 1.6% to 3.35%[16]. - The company reported a total of CNY 1,950,000,000.00 in entrusted financial management, with actual returns of CNY 12,529,589.11[18]. - The annualized yield rates for entrusted financial management products ranged from 1.3% to 3.4%[18]. - The company has plans for future entrusted financial management, indicating ongoing investment strategies[18].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 4,910,824,498.76, representing a 6.07% increase compared to CNY 4,629,988,963.08 in the same period last year[19]. - The net profit attributable to shareholders of the listed company reached CNY 736,636,737.30, a 23.89% increase from CNY 594,597,810.60 year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 691,905,809.78, up 23.99% from CNY 558,024,102.77 in the previous year[19]. - The net cash flow from operating activities was CNY 668,019,806.97, showing a slight decrease of 0.63% compared to CNY 672,285,429.53 in the same period last year[19]. - Basic earnings per share increased by 25.60% to 0.7159 CNY compared to the same period last year[20]. - Diluted earnings per share also rose by 25.60% to 0.7159 CNY year-on-year[20]. - The weighted average return on equity improved by 1.03 percentage points to 7.26%[20]. - In the first half of 2022, the company achieved a revenue of 4.85 billion CNY, representing a year-on-year growth of 6%, and a net profit of 737 million CNY, up 24% year-on-year[27]. - The company reported a net profit of approximately CNY 571.42 million for the first half of 2022, compared to a net profit of CNY 268.88 million in the same period of 2021, indicating a significant increase[107]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 2.89 per 10 shares (including tax) to all shareholders, pending approval at the shareholders' meeting[6]. - The total cash dividend to be distributed is estimated to be CNY 300,345,128.79 based on the number of shares eligible for distribution as of June 30, 2022[6]. Assets and Liabilities - As of the end of the reporting period, the net assets attributable to shareholders amounted to CNY 9,892,936,202.41, a decrease of 0.13% from CNY 9,905,495,654.72 at the end of the previous year[19]. - The total assets of the company were CNY 13,926,683,716.32, reflecting a 1.83% increase from CNY 13,676,050,322.84 at the end of the previous year[19]. - The total liabilities increased to CNY 3,436,734,357.89 from CNY 3,199,498,957.85, marking a rise of about 7.41%[89]. - The company's equity attributable to shareholders decreased slightly to CNY 9,892,936,202.41 from CNY 9,905,495,654.72, a decline of approximately 0.13%[89]. Research and Development - The company is actively increasing R&D investment to enhance competitiveness in innovative drugs amid industry differentiation[23]. - Research and development expenses rose by 7.24% to approximately ¥193.49 million, up from ¥180.42 million in the previous year[30]. - The company is focusing on innovation, with projects like the Fascin protein inhibitor for cancer treatment and CX2101 for antiviral drug development underway[27]. Market and Industry Trends - The pharmaceutical industry is experiencing significant downward pressure on growth, with hospital and retail pharmacy sales showing negative growth in the first half of 2022[23]. - The normalization of volume-based procurement is expected to continue, with over 350 drug names targeted for procurement by each province[23]. - The chronic disease business remains the largest segment for the company, significantly impacted by national volume-based procurement policies, with a focus on optimizing resource allocation and digital marketing strategies[24]. Environmental and Social Responsibility - The company has initiated a three-year action plan for environmental protection and carbon reduction, collecting 47 projects aimed at energy saving and carbon reduction[63]. - The company conducted 4 rounds of public medical education activities under the "Thousand County Plan," benefiting over 20,000 doctors across more than 500 counties[64]. - The company is committed to enhancing grassroots medical capabilities and improving healthcare services in rural areas[64]. Compliance and Governance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees reported during the period[8]. - The company has committed to not reduce its ordinary shares during the repurchase period, which lasts for three and six months from December 27, 2021[70]. Financial Management - The company has invested CNY 150 million in a wealth management product with an expected annual return of 1.5% to 3.3%[42]. - The total amount of entrusted financial management reached CNY 1,550,000,000.00, with actual returns of CNY 12,529,589.11[44]. - The company reported a financial income of CNY 24,416,144.07 in the first half of 2022, compared to a financial expense of CNY 21,635,575.88 in the same period of 2021[95]. Shareholder Information - The total number of ordinary shareholders reached 81,283 by the end of the reporting period[80]. - Beijing Pharmaceutical Group Co., Ltd. holds 625,795,624 shares, accounting for 59.99% of the total shares[80]. - The total number of shares before the change was 1,043,237,710, which decreased to 1,025,631,410 after the issuance of restricted shares[77].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 2,518,174,975.92, representing a 4.59% increase year-over-year[6]. - Net profit attributable to shareholders was CNY 331,971,014.87, reflecting a 15.99% increase compared to the same period last year[6]. - The net profit after deducting non-recurring gains and losses was CNY 317,717,474.58, up by 19.48% year-over-year[6]. - Basic and diluted earnings per share were both CNY 0.3182, marking a 15.99% increase[6]. - Operating profit for Q1 2022 was ¥424,020,624.79, up 18.3% from ¥358,500,072.98 in Q1 2021[20]. - Net profit for Q1 2022 was ¥345,356,206.23, representing a 16.2% increase from ¥297,164,529.40 in Q1 2021[21]. - Total comprehensive income for Q1 2022 was ¥345,355,685.67, an increase from ¥297,164,492.56 in Q1 2021[21]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 44.34%, amounting to CNY 179,637,208.19, primarily due to a reduction in the balance of receivables[6][8]. - Cash flow from operating activities for Q1 2022 was ¥179,637,208.19, a decrease of 44.2% compared to ¥322,732,752.17 in Q1 2021[22]. - Cash inflow from operating activities totaled ¥2,245,590,205.14 in Q1 2022, down from ¥2,399,083,493.29 in Q1 2021[22]. - Cash outflow from operating activities was ¥2,065,952,996.95 in Q1 2022, compared to ¥2,076,350,741.12 in Q1 2021[22]. - The cash and cash equivalents decreased to CNY 2,713,587,721.04 from CNY 2,834,035,295.68, representing a decline of about 4.26%[16]. - The cash and cash equivalents at the end of Q1 2022 amounted to approximately ¥1.77 billion, slightly up from ¥1.72 billion at the end of Q1 2021[23]. - The cash and cash equivalents decreased by approximately ¥118.01 million in Q1 2022, contrasting with an increase of ¥230.81 million in Q1 2021[23]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,713,457,608.57, a slight increase of 0.27% from the end of the previous year[6]. - The total liabilities of the company as of March 31, 2022, were CNY 3,177,908,131.69, slightly down from CNY 3,199,498,957.85, a decrease of approximately 0.67%[18]. - The company's equity attributable to shareholders increased to CNY 9,956,373,840.47 from CNY 9,905,495,654.72, reflecting a growth of about 0.52%[18]. - Accounts receivable increased significantly to CNY 1,496,814,196.36, up from CNY 1,232,982,001.21, marking an increase of approximately 21.43%[16]. - Inventory levels decreased to CNY 1,555,242,234.23 from CNY 1,665,455,865.49, indicating a reduction of about 6.61%[16]. - The company's fixed assets decreased to CNY 2,616,211,709.99 from CNY 2,629,698,915.82, a decline of approximately 0.52%[17]. Investments and Financial Management - The total amount of entrusted financial management reached 1,450,000,000.00 CNY during the reporting period[14]. - The company reported an actual return of 4,090,890.41 CNY from its entrusted financial management activities[14]. - The annualized yield rates for various entrusted financial products ranged from 1.3% to 3.48%[13]. - The company has plans for future entrusted financial management, indicating ongoing investment strategies[14]. - The expected returns from entrusted financial management were linked to derivative market performance[13]. - The company’s financial products included structured deposits linked to financial derivatives, enhancing potential returns[14]. Shareholder Information - The top shareholder, Beijing Pharmaceutical Group Co., Ltd., holds 625,795,624 shares, accounting for 59.99% of the total shares[9]. - The company reported a total of 42,810 common shareholders at the end of the reporting period[9]. Management and Governance - The company did not apply the new accounting standards for the first time in 2022, which may impact future financial reporting[23]. - The company’s management team includes key personnel such as Feng Yi and Fan Yanxi, responsible for accounting and financial oversight[23].

Financial Performance - The total revenue for 2021 was CNY 9,111,516,930.74, representing a 7.14% increase compared to CNY 8,503,938,229.78 in 2020[16]. - The net profit attributable to shareholders of the listed company decreased by 6.91% to CNY 935,685,482.77 from CNY 1,005,161,634.08 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was CNY 870,334,660.51, down 9.56% from CNY 962,334,953.03 in 2020[16]. - The cash flow from operating activities was CNY 1,340,920,963.61, a slight decrease of 1.41% compared to CNY 1,360,158,210.19 in 2020[16]. - The total assets increased by 10.14% to CNY 13,676,050,322.84 at the end of 2021, up from CNY 12,416,486,664.94 at the end of 2020[16]. - The basic earnings per share for 2021 was CNY 0.8969, down 6.91% from CNY 0.9635 in 2020[17]. - The weighted average return on equity decreased by 1.49 percentage points to 9.78% from 11.27% in the previous year[17]. - The gross profit margin for the overall business was 55.91%, a decrease of 7.67 percentage points from the previous year[34]. - The operating cost increased by 28.13% to CNY 4.03 billion from CNY 3.15 billion, leading to a decrease in overall gross margin[32]. Research and Development - The company established a three-tier R&D system and significantly increased R&D investment in 2021, resulting in notable R&D achievements[22]. - The company launched an innovation division focused on acquiring innovative drugs and technologies, successfully introducing two Class 1 innovative drugs in less than a year[22]. - Research and development expenses rose by 40.74% to CNY 409.59 million, attributed to increased investment in product layout[32]. - The company has over 120 ongoing research and development projects, focusing on generic drugs and consistency evaluation[59]. - The company established an innovation division in 2021 to enhance its research and development capabilities, focusing on high-end generics and innovative drugs[59]. - The company is committed to increasing its R&D efforts and collaborating with external research institutions to enhance its product line[53]. Market and Business Strategy - The company aims to leverage digital marketing strategies to enhance the promotion of chronic disease products, ensuring competitive advantages[27]. - The company plans to expand its specialty business through self-research, product collaboration, and acquisitions[27]. - The company is focusing on the development of biosimilars, with two new products expected to enter the market by the end of 2022[93]. - The company plans to continue expanding its business operations and has approved a proposal for daily related transactions in 2021[89]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach, targeting a completion date by Q3 2022[103]. - The company aims to maintain a competitive edge by adjusting its product structure and enhancing quality through innovation in response to the challenges posed by centralized procurement policies[84]. Governance and Compliance - The company has established a governance structure that ensures clear responsibilities and effective supervision, complying with relevant laws and regulations[86]. - The company has implemented a performance-oriented evaluation and incentive mechanism, linking executive compensation to the achievement of annual operational goals[87]. - The company has developed a comprehensive internal control management system to enhance operational efficiency and risk compliance[87]. - The company has established specialized committees within the board of directors to enhance decision-making and governance[86]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[6]. - The company has ensured compliance with laws and regulations regarding related party transactions, emphasizing fairness and transparency in dealings[145]. Environmental Responsibility - The company has initiated a three-year action plan for environmental protection and carbon reduction, collecting 47 projects aimed at energy saving and carbon reduction[138]. - The company has achieved environmental management system certification for 14 out of 18 production bases by the end of the reporting period[137]. - The company is classified as a key pollutant discharge unit and is subject to environmental protection regulations[129]. - The company has monitored various emissions regularly, including nitrogen oxides and wastewater pollutants, ensuring compliance with environmental standards[135]. Shareholder Information - The total number of ordinary shareholders increased from 35,417 to 39,197 during the reporting period, representing a growth of approximately 10%[166]. - Beijing Pharmaceutical Group Co., Ltd. remains the largest shareholder, holding 625,795,624 shares, which accounts for 59.99% of the total shares[167]. - The company did not experience any changes in its share capital structure during the reporting period[166]. - The company plans to repurchase between 22.1764 million and 23.5 million shares, representing 2.13% to 2.25% of the total share capital[175]. Financial Management - The company has engaged in wealth management with a total amount of RMB 1 billion, with an outstanding balance of RMB 800 million[156]. - The company has multiple wealth management products with varying annualized returns ranging from 1.40% to 5.15%[158]. - The company plans to continue its entrusted financial management strategy, indicating a commitment to maintaining liquidity and optimizing returns[160][161]. - The actual returns from entrusted financial products amounted to approximately 6.5 million CNY across different financial institutions, with the highest return being 2.26 million CNY from China Construction Bank[160][161].

Financial Performance - The company's revenue for Q3 2021 was ¥2,245,313,921.05, representing a year-over-year increase of 0.84%[6] - Net profit attributable to shareholders for the same period was ¥294,444,066.98, showing a decrease of 7.72% compared to the previous year[6] - The net profit after deducting non-recurring gains and losses was ¥277,150,136.54, down 9.84% year-over-year[6] - The basic earnings per share for Q3 2021 was ¥0.2822, a decrease of 7.72% from the same period last year[6] - Total operating revenue for the first three quarters of 2021 reached CNY 6,875,302,884.13, an increase of 7.9% compared to CNY 6,373,707,849.70 in the same period of 2020[18] - Operating profit for the first three quarters of 2021 was CNY 1,093,229,461.30, slightly up from CNY 1,058,035,959.49 in the previous year, reflecting a growth of 3.3%[19] - Net profit for the first three quarters of 2021 amounted to CNY 924,216,044.44, compared to CNY 881,878,136.47 in 2020, indicating an increase of 4.8%[19] - The total comprehensive income for the first three quarters of 2021 was approximately CNY 924.21 million, an increase from CNY 881.87 million in the same period of 2020, representing a growth of about 4.0%[20] - Basic earnings per share for the first three quarters of 2021 was CNY 0.8522, compared to CNY 0.8371 in 2020, reflecting an increase of approximately 1.3%[20] Assets and Liabilities - Total assets at the end of the reporting period reached ¥13,382,909,570.53, an increase of 7.78% compared to the end of the previous year[6] - The company's total assets as of September 30, 2021, were CNY 13,382,909,570.53, up from CNY 12,416,486,664.94 at the end of 2020, representing a growth of 7.8%[17] - Non-current liabilities totaled CNY 508,900,016.27 as of September 30, 2021, compared to CNY 369,469,959.14 at the end of 2020, marking an increase of 37.8%[17] - The total liabilities of the company decreased to CNY 2,943,795,964.72 as of September 30, 2021, down from CNY 3,039,500,549.86 at the end of 2020, a decline of 3.2%[17] - The company's goodwill increased to CNY 844,866,557.81 as of September 30, 2021, compared to CNY 796,412,194.41 at the end of 2020, an increase of 6.1%[17] - Deferred income tax liabilities rose to CNY 122,633,010.52 as of September 30, 2021, from CNY 103,619,792.37 at the end of 2020, indicating an increase of 18.3%[17] - Current liabilities decreased from CNY 2,670,030,590.72 to CNY 2,666,938,063.93, a reduction of CNY 3,092,526.79[25] - Total liabilities increased from CNY 3,039,500,549.86 to CNY 3,158,348,325.30, an increase of CNY 118,847,775.44[26] - Shareholders' equity decreased from CNY 9,376,986,115.08 to CNY 9,358,109,229.26, a decline of CNY 18,876,885.82[26] - Non-current liabilities increased by CNY 121,940,302.23, from CNY 369,469,959.14 to CNY 491,410,261.37[26] Cash Flow - The company reported a net cash flow from operating activities of ¥943,102,232.82, which decreased by 8.83% compared to the previous year[6] - Cash inflow from operating activities for the first three quarters of 2021 was CNY 7.13 billion, up from CNY 6.18 billion in 2020, indicating a growth of about 15.3%[22] - Cash outflow from operating activities totaled CNY 6.19 billion in 2021, compared to CNY 5.15 billion in 2020, marking an increase of approximately 20.2%[22] - The net cash flow from operating activities for the first three quarters of 2021 was CNY 943.10 million, down from CNY 1.03 billion in 2020, a decrease of about 8.8%[22] - The cash flow from investment activities showed a net outflow of CNY 506.35 million in 2021, compared to a net outflow of CNY 279.45 million in 2020, indicating a worsening of approximately 81.3%[23] - Cash flow from financing activities resulted in a net outflow of CNY 374.93 million in 2021, compared to a net outflow of CNY 338.35 million in 2020, reflecting an increase of about 10.8%[23] - The cash and cash equivalents at the end of the third quarter of 2021 amounted to CNY 1.56 billion, compared to CNY 1.35 billion at the end of the same period in 2020, representing an increase of approximately 15.2%[23] - The company received CNY 6.86 billion from sales of goods and services in the first three quarters of 2021, compared to CNY 6.13 billion in 2020, which is an increase of about 12.1%[22] - The company reported a significant increase in cash received from other operating activities, totaling CNY 209.85 million in 2021, compared to CNY 51.46 million in 2020, marking an increase of approximately 307.5%[22] Investments and Wealth Management - The company has invested a total of 100 million in wealth management products with a floating return type, yielding an annualized return rate of 1.5% to 2.98%[10] - The company reported actual returns of 715,068.49 from a wealth management investment of 100 million with 兴业银行, which was managed as bank deposits[10] - A total of 200 million was invested with 浦发银行, generating an actual return of 1,400,000.00, with an annualized return rate of 1.40% to 3.00%[10] - The company has a wealth management investment of 75 million with 平安银行, yielding an actual return of 1,925,958.90, with an annualized return rate of 1.65% to 5.15%[10] - The company has a total of 150 million invested with 中信银行, with an actual return of 1,103,219.18, and an annualized return rate of 1.48% to 3.35%[11] - The company has invested 200 million with 建设银行, achieving an actual return of 2,258,082.19, with an annualized return rate of 1.485% to 3.17%[11] - The company has a total of 25,472,000 invested with 工商银行, generating an actual return of 20,604.99, with an annualized return rate of 2.3% to 2.4%[11] - The company has a wealth management investment of 14,000,000 with 工商银行, yielding an actual return of 4,725.78, with an annualized return rate of 2.4% to 2.5%[11] - The company has confirmed that all wealth management plans have gone through legal procedures and will continue to have future wealth management plans[10] - The company has a total of CNY 2.92 billion in entrusted financial management, with various banks providing floating income products[14] - The annualized return rates for entrusted financial products range from 1.48% to 3.5%[14] - The company reported actual returns from entrusted financial management of CNY 15.87 million[14] - The total amount of entrusted financial management as of the report date is CNY 2.92 billion, with a significant portion managed by major banks[14] - The company has plans for future entrusted financial management, indicating ongoing investment strategies[14] Research and Development - Research and development expenses for the first three quarters of 2021 were CNY 266,389,905.20, up from CNY 165,221,359.77 in the same period of 2020, reflecting a significant increase of 61.2%[18]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 4,629,988,963.08, representing an increase of 11.64% compared to CNY 4,147,116,544.19 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 594,597,810.60, up 7.28% from CNY 554,238,190.73 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 558,024,102.77, reflecting a 6.00% increase from CNY 526,417,589.37 year-on-year[18]. - The net cash flow from operating activities was CNY 672,285,429.53, a decrease of 4.60% compared to CNY 704,734,208.14 in the same period last year[18]. - The total assets at the end of the reporting period were CNY 13,438,854,817.73, an increase of 8.23% from CNY 12,416,486,664.94 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company were CNY 9,570,537,389.73, up 2.97% from CNY 9,294,106,183.59 at the end of the previous year[18]. - Basic earnings per share for the first half of 2021 were CNY 0.5700, an increase of 7.28% from CNY 0.5313 in the same period last year[19]. - The diluted earnings per share were also CNY 0.5700, reflecting the same growth rate of 7.28%[19]. - The weighted average return on net assets was 6.23%, a slight decrease of 0.05 percentage points compared to 6.28% in the previous year[19]. Business Segments - The slow disease business platform remains the largest segment, focusing on hypertension, diabetes, and cerebrovascular diseases, with a comprehensive product line in the hypertension category[23]. - The specialized business platform is a key growth driver, with strategic focus on six areas including cardiology and pediatrics, supported by acquisitions such as Tiandong Pharmaceutical[23]. - The infusion business has undergone a deep transformation, optimizing product structure and enhancing profitability through automation and base integration[23]. - The chronic disease business revenue declined by 10%, while core products in the hypertension field maintained stable sales[28]. - Sales of the core product 0 achieved a stable performance, and the sales revenue of the antihypertensive drug sustained a growth of 31%[28]. - The pediatric product Keli Su maintained the number one market share in treating neonatal respiratory distress, while the pediatric amino acid product also ranked first in market share[28]. - The infusion business revenue grew by 18%, although the overall infusion industry has not yet recovered to 2019 levels[29]. - The company has 19 products with over CNY 100 million in sales, forming a competitive product group[26]. Market and Industry Trends - The Chinese pharmaceutical market is projected to grow at a rate of 4-5% over the next five years, driven by recovery from the COVID-19 pandemic and increased innovation investments[24]. - The fifth batch of national drug procurement resulted in an average price drop of 56% for selected drugs, totaling RMB 55 billion, indicating a shift towards normalized procurement practices[24]. - The company has been recognized as a 3A credit enterprise in the chemical pharmaceutical industry and ranked 14th in the "2020 China Pharmaceutical Industry Top 100" list[24]. Research and Development - The company established an Innovation Division to enhance product development and address unmet clinical needs in oncology, rare diseases, and pediatrics[30]. - The company obtained exclusive rights for the development and commercialization of the novel Fascin protein inhibitor NP-G2-044 in Greater China, with plans to submit a clinical trial application by the end of this year or early next year[30]. - R&D expenses increased to ¥180,421,872.97, a rise of 63.98% compared to ¥110,027,006.03 in the previous period, primarily due to intensified drug development efforts[34]. Financial Management - The company has invested a total of CNY 100 million in wealth management products with a projected annual return rate of 1.5%-2.98%[48]. - The company has also invested CNY 200 million in wealth management products with a projected annual return rate of 1.40%-3.00%[48]. - The company has a total of CNY 150 million in wealth management products with expected returns of 1.48%-3.35%[49]. - The company has allocated CNY 200 million in wealth management products with a projected return rate of 1.485%-3.17%[49]. - The company maintained a maximum daily deposit limit of 250 million yuan with Zhuhai China Resources Bank, with an interest rate range of 1.61%-4.2%[81]. - The total number of ordinary shareholders reached 41,817 by the end of the reporting period[85]. Environmental and Regulatory Compliance - The company is classified as a key pollutant discharge unit and has reported its environmental information[57]. - The company has a total pollutant discharge limit of 8743.173 tons per year[58]. - The concentration of COD in wastewater discharge is 69 mg/L, with a standard limit of 500 mg/L[58]. - The concentration of nitrogen oxides in boiler emissions is 47 mg/m³, with a standard limit of 80 mg/m³[58]. - The company reported a pH level of 7.35 in wastewater, within the acceptable range of 6-9[59]. - The concentration of sulfur dioxide in boiler emissions is 24 mg/m³, with a standard limit of 50 mg/m³[59]. - The concentration of non-methane total hydrocarbons in process emissions is 37.81 mg/m³, with a standard limit of 150 mg/m³[59]. - The wastewater treatment capacity of China Resources Double Crane (Beijing) Industrial Park is 2,000 tons per day, achieving stable and compliant discharge since operation[60]. Corporate Governance - The company held three shareholder meetings in 2021, all of which passed all resolutions[52]. - Significant changes in the board included the election of new directors and the appointment of new senior management personnel[53]. - The company has not reported any changes in controlling shareholders or actual controllers during the reporting period[90]. Risk Factors - The company faces risks from industry policy changes, including the impact of centralized procurement on generic drug prices and sales models, which may increase market entry difficulties[46]. - The company anticipates a continued decline in drug prices due to normalized centralized procurement policies, affecting sales and requiring adjustments in product structure[47]. - Rising production costs are a concern due to stricter national standards and environmental regulations, prompting the company to enhance production efficiency through lean manufacturing[46]. - The ongoing COVID-19 pandemic continues to affect production and operations, with the company implementing measures to minimize its impact while supporting national efforts[47].

Financial Performance - Operating revenue rose by 10.34% to CNY 2,407,751,720.57 year-on-year[7] - Net profit attributable to shareholders increased by 4.09% to CNY 286,211,847.38 compared to the same period last year[7] - The basic earnings per share rose by 4.09% to CNY 0.2743[7] - Net profit for Q1 2021 was CNY 297,164,529.40, up 7.63% from CNY 276,356,528.87 in Q1 2020[30] - Total operating revenue for Q1 2021 reached CNY 2,407,751,720.57, an increase of 10.34% compared to CNY 2,182,125,834.68 in Q1 2020[29] - The total profit for Q1 2021 was CNY 360,521,086.98, an increase from CNY 334,395,525.46 in Q1 2020[30] Assets and Liabilities - Total assets increased by 6.67% to CNY 13,245,136,617.11 compared to the end of the previous year[7] - As of March 31, 2021, total assets increased to CNY 13,245,136,617.11 from CNY 12,416,486,664.94 at the end of 2020, representing a growth of approximately 6.67%[24] - Current liabilities decreased to CNY 2,626,470,399.00 from CNY 2,670,030,590.72, a reduction of approximately 1.63%[25] - The total liabilities increased to CNY 3,126,769,667.61 from CNY 3,039,500,549.86, reflecting a growth of about 2.87%[25] - The total amount of entrusted financial management reached CNY 1,522,490,000.00, with actual earnings of CNY 4,888,169.34 during the reporting period[20] Cash Flow - Cash flow from operating activities decreased by 11.63% to CNY 322,732,752.17 compared to the previous year[7] - Cash received from tax refunds increased by ¥27,718,018.72, a surge of 2897.30%, mainly due to the consolidation of Tiandong Pharmaceutical[15] - Cash received from other operating activities rose by ¥13,707,999.11, an increase of 101.55%, driven by higher government subsidies and the consolidation of Tiandong Pharmaceutical[15] - Cash paid for purchasing goods and services increased by ¥223,284,339.85, a growth of 56.16%, primarily due to the consolidation of Tiandong Pharmaceutical[15] - The net cash flow from operating activities for Q1 2021 was approximately ¥322.73 million, down 11.6% from ¥365.21 million in Q1 2020[33] Investments and Expenses - R&D expenses increased by ¥29,180,120.94, a growth of 68.62%, mainly due to increased investment and the inclusion of Tiandong Pharmaceutical in the consolidation scope[14] - Interest expenses rose by ¥2,145,217.21, an increase of 325.81%, primarily due to the new leasing standards and retirement benefit plan interest expenses[14] - Investment income decreased by ¥681,109.38, a decline of 84.61%, attributed to reduced financial management income measured at amortized cost[14] - Research and development expenses increased to CNY 71,702,452.77 in Q1 2021, a rise of 68.83% from CNY 42,522,331.83 in Q1 2020[29] Equity and Shareholder Information - The total equity attributable to shareholders increased to CNY 9,564,035,770.79 from CNY 9,294,106,183.59, reflecting a growth of approximately 2.91%[25] - The company's total equity decreased slightly to approximately ¥9.36 billion as of January 1, 2021, from ¥9.38 billion at the end of 2020[39] - The company's retained earnings decreased by approximately ¥16.87 million, totaling ¥7.56 billion as of January 1, 2021[39] Consolidation and Changes - Minority interests increased by 568.84% to CNY 471,451,247.22, primarily due to the inclusion of Tiandong Pharmaceutical in the consolidation scope[13] - Cash from investment recovery increased by ¥322,536,184.74, a rise of 64.51%, mainly due to the recovery of matured financial products and the consolidation of Tiandong Pharmaceutical[15] - The company confirmed that there were no significant changes in net profit compared to the same period last year, ensuring stability in financial performance[21] - The company has undergone legal procedures for all financial management activities, ensuring compliance and transparency[20]

Financial Performance - The total revenue for 2020 was CNY 8,503,938,229.78, a decrease of 9.35% compared to 2019[15]. - The net profit attributable to shareholders was CNY 1,005,161,634.08, down 4.74% from the previous year[15]. - The net profit after deducting non-recurring gains and losses was CNY 962,334,953.03, a decrease of 3.13% year-on-year[15]. - The net cash flow from operating activities was CNY 1,360,158,210.19, reflecting a decline of 5.53% compared to 2019[15]. - The total assets at the end of 2020 amounted to CNY 12,416,486,664.94, an increase of 10.11% from the end of 2019[15]. - The total equity attributable to shareholders increased to CNY 9,294,106,183.59, up 8.04% from the end of 2019[15]. - The basic earnings per share for 2020 was CNY 0.9635, a decrease of 4.74% compared to the previous year[16]. - The company reported a total of CNY 42,826,681.05 in non-recurring gains and losses for 2020[18]. - The company reported a net profit decline of 35.40% for Huaren Saike, significantly impacted by volume-based procurement and the consolidation of equity from Hainan Shuanghe and Zhejiang Xinsike[76]. - The company reported a total procurement transaction amount of CNY 80.139 million, which is a decrease of CNY 29.2523 million compared to the forecast[94]. Dividend Distribution - The proposed cash dividend distribution is CNY 2.90 per 10 shares, totaling CNY 302,538,935.90, which represents 30.10% of the net profit attributable to ordinary shareholders for 2020[5]. - The company reported a net profit of CNY 1,005,161,634.08 for the year 2020, showing a slight decrease from CNY 1,055,123,708.98 in 2019[85]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[4]. - The board of directors and senior management have confirmed the accuracy and completeness of the annual report[3]. - There are no instances of non-operational fund occupation by controlling shareholders or related parties[6]. - The company has not faced any penalties from securities regulatory agencies in the past three years[138]. - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2020[152]. Research and Development - R&D expenses rose by 44.06% to approximately ¥291.02 million, reflecting the company's commitment to innovation[32]. - The company achieved 4 approvals for generic drug consistency evaluation and submitted 18 projects for production, marking the highest number of approvals and submissions in recent years[29]. - The company is focusing on transforming its marketing model to adapt to volume-based procurement, particularly in chronic disease and specialty markets[29]. - The company is actively exploring opportunities in differentiated and innovative drug development through strategic partnerships and acquisitions[29]. - The company aims to enhance its research and development capabilities by shifting from generic drugs to a combination of generic and innovative drugs, responding to market needs[48]. Market Position and Strategy - The chronic disease business platform remains the largest business segment for the company, focusing on hypertension, diabetes, and dyslipidemia, with a comprehensive product line in the hypertension category[20]. - The company has been recognized as a top 13 chemical pharmaceutical enterprise in China, reflecting its strong market position and credit rating[21]. - The overall pharmaceutical industry is projected to grow at a rate of 4-5% over the next five years, despite the impact of the COVID-19 pandemic[21]. - The company aims to leverage internet healthcare support for chronic disease management, which is expected to drive innovation in the health industry[21]. - The company is focusing on enhancing its marketing capabilities for chronic disease prescription drugs, emphasizing patient education and adapting to volume-based procurement policies[20]. Risks and Challenges - The company has disclosed potential risks in its future development in the report[7]. - The company faces risks from industry policy changes, including uncertainties in national and local procurement bidding, which may slow down the expansion of both new and existing products[82]. - The ongoing COVID-19 pandemic poses risks to production, logistics, and market sales, with the company prioritizing employee safety while maintaining operational continuity[84]. - The company anticipates continued price reductions in drug prices due to expanded centralized procurement policies, impacting product sales and market expansion efforts[83]. Corporate Governance - China Resources Double Crane Pharmaceutical Co., Ltd. maintains independence from its controlling shareholder, North Pharmaceutical Group, ensuring separation in assets, personnel, finance, and operations[87]. - The company has a commitment to avoid and minimize related party transactions with North Pharmaceutical Group, adhering to legal and regulatory requirements[88]. - The board of directors includes a mix of independent and non-independent members, ensuring governance diversity[128]. - The company has established a comprehensive compliance management system to support its operational development[144]. Environmental Responsibility - The company has committed to environmental protection, with specific measures in place for wastewater and emissions management across its subsidiaries[111]. - The total wastewater discharge for Zhejiang Xinsai Ke is 64,800 tons/year, with COD discharge totaling 32.4 tons/year and ammonia nitrogen discharge totaling 2.268 tons/year[112]. - The company has established emergency response plans for sudden environmental incidents across all key pollutant discharge units[115]. - The company’s actual pollutant discharge values are significantly lower than industry or local discharge standard limits[118]. Employee and Workforce Management - The total number of employees in the parent company is 1,642, and the total number of employees in major subsidiaries is 9,709, resulting in a combined total of 11,351 employees[139]. - The company has established a market-oriented compensation system that emphasizes performance orientation and strengthens the link between compensation and company performance[140]. - The company has implemented the "Double Crane Power 88 Plan" for the development of outstanding young managers, focusing on training courses and action learning projects[141]. Financial Management - The company reported a total of 1 billion RMB in entrusted financial management, with an outstanding balance of 850 million RMB[97]. - The company has engaged in multiple entrusted financial management agreements, with amounts ranging from 50 million RMB to 200 million RMB, and annualized returns between 1.5% and 4.00%[99]. - The company has a consistent strategy of managing deposits through banks, ensuring liquidity and safety of funds[102].