Financial Performance - Operating revenue for the first quarter was ¥1,236,596,777.69, a decrease of 3.62% compared to the same period last year[10]. - Net profit attributable to shareholders decreased by 48.22% to ¥93,392,145.45[10]. - Basic earnings per share dropped by 48.19% to ¥0.100[10]. - The company forecasts a net profit decline of 40%-60% for the first half of 2014, primarily due to a significant drop in the price of its main product, Vitamin E[20]. - Net profit for the period was CNY 93,145,754.33, down 48.3% from CNY 180,046,299.71 in the previous period[32]. - Basic earnings per share decreased to CNY 0.100 from CNY 0.193, reflecting a decline of 48.9%[33]. Assets and Liabilities - Total assets increased to ¥7,690,820,045.44, up 1.78% from the previous year-end[10]. - The company's total assets as of March 31, 2014, were ¥7,690,820,045.44, an increase from ¥7,556,366,447.97 at the beginning of the year[25]. - Total liabilities increased to ¥1,121,674,752.01 from ¥1,075,944,787.65, reflecting a rise in current liabilities[25]. - Total assets increased to CNY 6,978,190,079.03, compared to CNY 6,878,634,892.21 in the previous period, marking a growth of 1.5%[29]. - Total liabilities rose to CNY 548,254,655.13, an increase of 11.1% from CNY 493,360,800.47[29]. Cash Flow - Cash flow from operating activities showed a net outflow of ¥14,980,136.56, down 134.88% from the previous year[10]. - The company's cash flow from operating activities showed a significant decline, impacting liquidity[36]. - Operating cash inflow for the current period was CNY 1,231,299,185.25, a decrease of 3.9% from CNY 1,281,534,393.38 in the previous period[37]. - Cash outflow from operating activities totaled CNY 1,246,279,321.81, an increase of 0.6% compared to CNY 1,238,581,703.27 in the prior period[38]. - Net cash flow from operating activities was negative CNY 14,980,136.56, a significant decline from positive CNY 42,952,690.11 in the previous period[38]. - Cash inflow from investment activities was CNY 10,343,000.00, slightly up from CNY 10,222,526.00 in the last period[39]. - Cash outflow from investment activities was CNY 179,600,662.09, down 38.8% from CNY 293,565,275.25 in the previous period[39]. - Net cash flow from investment activities was negative CNY 169,257,662.09, an improvement from negative CNY 283,342,749.25 in the prior period[39]. - The ending cash and cash equivalents balance was CNY 1,526,744,421.20, down from CNY 2,247,205,568.23 in the prior period[40]. - The net decrease in cash and cash equivalents for the current period was CNY 183,142,425.21, an improvement from a decrease of CNY 244,624,000.00 in the previous period[40]. Shareholder Information - The number of shareholders reached 77,515, with the top ten shareholders holding a combined 62.77% of shares[14]. Tax and Financial Adjustments - Deferred income tax assets increased by 31.81% to ¥21,810,897.35[17]. - The company is currently in the process of reapplying for high-tech enterprise qualification, affecting the income tax rate[17]. - Financial expenses showed a dramatic decrease of 553.87%, resulting in a cost of -¥12,066,981.78 compared to ¥2,658,674.58 in the previous year[18]. - The impairment loss on assets decreased by 66.16%, amounting to ¥4,685,494.55 compared to ¥13,846,738.02 in the previous year[18]. - Other comprehensive income showed a significant decline of 108.86%, resulting in -¥4,422,121.22 compared to ¥49,912,871.24 in the previous year[18]. Inventory and Receivables - The company's inventory increased slightly to ¥754,754,885.16 from ¥748,515,656.52 at the beginning of the year[23]. - Inventory decreased to CNY 499,487,887.06 from CNY 555,303,177.65, a reduction of 10.1%[28]. - The company reported an increase in accounts receivable to CNY 716,983,091.93, up 19.8% from CNY 598,648,971.24[28]. Future Plans - The company plans to focus on market expansion and new product development in the upcoming quarters[36].

Financial Performance - The net profit attributable to the parent company's shareholders for 2013 was CNY 452,095,249.90, while the net profit for the parent company was CNY 457,473,352.86[8]. - In 2013, the company achieved operating revenue of CNY 4.93 billion, a decrease of 6.29% compared to 2012[33]. - The net profit attributable to shareholders was CNY 452.10 million, down 46.72% year-on-year[33]. - The company's basic earnings per share were CNY 0.48, a decrease of 52.00% from 2012[33]. - The weighted average return on net assets was 7.18%, down 9.52 percentage points from the previous year[33]. - The company's total assets increased by 7.07% to CNY 7.56 billion at the end of 2013[33]. - The company's total operating revenue for 2013 was CNY 4,932,920,236.96, a decrease of 6.29% compared to CNY 5,264,006,116.35 in the previous year[37]. - The net profit for 2013 was CNY 452,604,587.23, a decline of 46.8% from CNY 851,141,844.89 in 2012[164]. - The total comprehensive income for the year was CNY 532,199,297.87, which includes other comprehensive income of CNY 79,711,523.38[179]. Dividend and Profit Distribution - A cash dividend of CNY 1.5 per 10 shares (including tax) is proposed, totaling CNY 140,416,200, based on a total share capital of 936,108,000 shares as of December 31, 2013[8]. - The company plans to allocate 10% of the net profit as statutory surplus reserve, amounting to CNY 45,747,335.29, and an additional 5% as discretionary surplus reserve, totaling CNY 22,873,667.64[8]. - The profit distribution includes a transfer to surplus reserves of CNY 68,621,002.93 and a distribution to owners of CNY 260,030,000.00[184]. - The company has not proposed any cash dividend distribution plan for the reporting period despite having positive undistributed profits[70]. - In 2013, the company achieved a net profit of 848,542,502.09 RMB, with a cash dividend payout ratio of 30.64%[74]. Operational Highlights - The company has maintained its main business operations without any changes since its listing[26]. - The pharmaceutical commercial business achieved sales of CNY 1.76 billion, an increase of 18.62% year-on-year[35]. - The new production base, Changhai Biological Park, has entered trial production for the 20,000 tons high-content Vitamin E project in October 2013[36]. - The company applied for 18 domestic and international invention patents during the reporting period, with 22 patents granted[34]. - The company emphasizes compliance with Good Manufacturing Practices (GMP) and other regulatory standards in its operations[15]. Cash Flow and Investment Activities - The company’s cash flow from operating activities was CNY 655.09 million, a decrease of 18.87% from 2012[33]. - The net cash flow from operating activities decreased by 18.87% to CNY 655,086,217.41, attributed to increased cash payments for commercial purchases and labor[45]. - The net cash flow from investment activities was negative CNY 1,175,313,418.56, an increase of 36.52% compared to the previous year[45]. - The net cash flow from financing activities was negative CNY 253,965,203.33, a decline of 126.54% due to the previous year's capital raised from a stock issuance[45]. - The company raised a net amount of RMB 125,317.49 million from a private placement of 70 million A-shares in 2012, with a cumulative usage of RMB 126,166.41 million by the end of 2013[56]. Market and Competitive Environment - The company has faced risks including reliance on vitamin E, which saw a price decline in 2013, impacting overall performance[67]. - The company is experiencing intensified competition in the vitamin market, which may affect its profitability[67]. - Domestic sales accounted for CNY 3,007,280,084.34, representing a year-over-year increase of 2.03%, while international sales decreased by 17.00% to CNY 1,908,779,225.66[48]. Governance and Compliance - The company has established a performance management system and has been certified under the OHSAS18000 occupational health and safety management system[72]. - The company has maintained a 100% compliance rate with environmental impact assessments and management procedures for construction projects[73]. - The company has not faced any administrative penalties or public reprimands from the China Securities Regulatory Commission during the reporting period[80]. - The company has implemented various training programs to enhance employee skills and align personal goals with organizational objectives[125]. - The company maintains independence from its controlling shareholder in business, personnel, assets, and finance, ensuring autonomous operational capability[136]. Future Outlook and Strategic Initiatives - The company aims to achieve an operating income of RMB 4.6 billion in 2014, focusing on safety, environmental protection, and the development of original research drugs[64]. - The company plans to strengthen the development of fat-soluble vitamins and antibiotics, while extending the product chain to increase added value[64]. - The company is positioned for future growth with a solid foundation of institutional support and a clear strategy for capital management[90]. - The company is actively pursuing mergers and acquisitions to strengthen its market position and diversify its product offerings[91]. - The company has a strong focus on R&D, with a national-level technology center and a team capable of developing internationally leading technologies[49]. Financial Position and Assets - The total assets of Zhejiang Pharmaceutical Co., Ltd. as of December 31, 2013, were RMB 431.02 million, and the net assets were RMB 377.78 million[103]. - The total liabilities reached CNY 1,075,944,787.65, up from CNY 860,733,771.00, indicating an increase of about 25%[156]. - The total equity attributable to shareholders was CNY 6,458,132,591.43, compared to CNY 6,186,443,055.70 at the start of the year, representing a growth of approximately 4.39%[156]. - The company's total share capital increased from 45,006,000 shares to 52,006,000 shares after the issuance[95]. - The total current assets decreased to CNY 3,797,913,675.03 from CNY 4,429,870,627.58, reflecting a decline of approximately 14.25%[152].