Financial Performance - Operating income for the first nine months grew by 16.69% to CNY 13.02 billion, with pharmaceutical manufacturing revenue up by 13.55% and pharmaceutical commerce revenue up by 19.05%[7] - Net profit attributable to shareholders increased by 20.24% to CNY 1.37 billion for the first nine months[7] - Total operating revenue for Q3 2018 reached ¥4,548,709,478.22, an increase of 16.7% compared to ¥3,897,333,285.64 in Q3 2017[34] - Net profit for Q3 2018 was ¥451,320,020.77, representing a 17.2% increase from ¥385,101,826.60 in Q3 2017[36] - Year-to-date operating revenue reached CNY 3.67 billion, an increase of 11.3% from CNY 3.30 billion in the same period last year[38] - The company reported a total profit of CNY 263 million for Q3 2018, a decrease of 11.7% from CNY 299 million in Q3 2017[39] Assets and Liabilities - Total assets increased by 12.85% to CNY 24.30 billion compared to the end of the previous year[7] - Current assets totaled CNY 17.18 billion, up from CNY 15.05 billion at the start of the year, indicating a growth of about 14.19%[26] - The company’s total liabilities decreased by 35.95% for short-term loans, amounting to ¥4,450,798,131.35, due to repayment of bank loans[13] - The total liabilities increased to CNY 13.31 billion from CNY 12.56 billion, representing a growth of about 5.97%[28] Shareholder Information - The total number of shareholders reached 45,168 by the end of the reporting period[10] - The top shareholder, Tian Shili Holding Group Co., Ltd., holds 45.18% of the shares, with 683,481,524 shares pledged[10] Cash Flow - Net cash flow from operating activities increased by 208.42% to CNY 1.16 billion compared to the same period last year[8] - The net cash flow from operating activities for the first nine months of 2018 was ¥2,149,395,356.89, a significant increase compared to a net cash outflow of ¥926,989.86 in the same period last year[44] - Total cash inflow from operating activities reached ¥5,433,125,495.34, up from ¥3,030,593,317.96 year-on-year, indicating a growth of approximately 79.5%[44] Investments and Expenditures - Development expenditures increased by 73.29% to ¥955,096,943.08, attributed to increased spending on subsidiaries and company development projects[13] - The company increased its investment in Tianshili Biopharmaceutical Co., Ltd. by RMB 36.79 million, along with an additional cash investment of RMB 1.94 million from its wholly-owned subsidiary[19] - The company plans to restructure its biopharmaceutical segment, aiming to establish Shanghai Tianshili Pharmaceutical Co., Ltd. as the sole operating platform and to issue H-shares for independent financing, with an estimated valuation of RMB 42.63 million for a 50% stake in Tianjin Tianshili Chuangshijie Biopharmaceutical Co., Ltd.[18] Financial Ratios - The weighted average return on equity increased by 1.06 percentage points to 14.72%[7] - Basic earnings per share decreased by 14.11% to CNY 0.9050 due to the capital reserve conversion to share capital from the 2017 profit distribution plan[8] Other Financial Metrics - Non-operating income for the first nine months totaled CNY 119.62 million, with government subsidies contributing CNY 31.88 million[11] - Financial expenses increased by 70.74% to ¥376,845,943.43, mainly due to a larger loan scale and higher interest rates[14] - Investment income surged by 1749.07% to ¥93,937,008.89, driven by gains from equity disposals and increased financial returns[14]

Financial Performance - The company's operating revenue for the first half of 2018 was approximately CNY 8.48 billion, representing a 16.68% increase compared to CNY 7.26 billion in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2018 was approximately CNY 925 million, an increase of 22.32% from CNY 756 million in the previous year[20]. - The company achieved a total operating revenue growth of 16.68% and a net profit growth of 22.32% year-on-year during the reporting period[51]. - The modern Chinese medicine segment generated sales revenue of CNY 2.452 billion, reflecting a year-on-year increase of 11.28%[51]. - The biopharmaceutical segment's key product, Puyouke, saw sales revenue of CNY 118 million, marking a significant year-on-year growth of 215.91%[51]. - The chemical drug segment reported sales revenue of CNY 718 million, with a stable year-on-year growth of 10.93%[51]. - The company reported a net profit margin improvement, with undistributed profits increasing to CNY 5.67 billion from CNY 5.17 billion, a growth of approximately 9.7%[163]. - The total comprehensive income for the current period was CNY 942,653,269.82, reflecting a significant increase compared to the previous period[182]. Cash Flow and Investments - The net cash flow from operating activities increased by 154.09% to approximately CNY 635 million, primarily due to higher bill collections and discounts compared to the previous year[22]. - The net cash flow from operating activities was CNY 635,167,272.04, a significant improvement from a net outflow of CNY 1,174,381,030.20 in the previous period[174]. - Cash inflow from operating activities totaled CNY 9,669,114,651.29, up from CNY 6,816,018,088.36, representing an increase of approximately 42.5%[174]. - Cash outflow from operating activities increased to CNY 9,033,947,379.25 from CNY 7,990,399,118.56, reflecting a rise of about 13.1%[174]. - The company reported a net increase in cash and cash equivalents of CNY 476,840,214.44, compared to an increase of CNY 112,900,092.04 in the prior period[175]. - The company received CNY 9,150,169,804.30 in cash from sales of goods and services, compared to CNY 6,071,074,991.31 in the previous period, indicating a growth of approximately 50.5%[174]. Research and Development - R&D investment amounted to ¥326 million, a 46.60% increase compared to the previous year, accounting for 9.92% of pharmaceutical industrial revenue[62]. - The company has 77 products in the pipeline, with 10 clinical approvals obtained during the reporting period, including 6 traditional Chinese medicine and 4 chemical drugs[63]. - The company has made significant progress in its self-developed products, including the FDA clinical approval for the compound Danshen dripping pill, which is now in Phase II clinical trials[64]. - The company is focusing on the cardiovascular, digestive metabolism, and anti-tumor treatment areas to strengthen independent research and development, global project introduction, and strategic mergers and acquisitions[73]. Market and Sales Strategy - The company employs a dual sales model, combining self-operated pharmaceutical sales with third-party product distribution, enhancing market reach[31]. - The marketing strategy emphasizes "big product" precision marketing, enhancing academic promotion systems, and expanding the professional marketing team[75]. - The sales network for the product Pu You Ke has expanded to over 1,300 hospitals nationwide, with nearly 30 offices established to strengthen market promotion[56]. - The company is actively pursuing market opportunities and expanding its sales network in Shanxi and Guangdong provinces[59]. Assets and Liabilities - The total assets of the company at the end of the reporting period were approximately CNY 23.23 billion, a 7.88% increase from CNY 21.53 billion at the end of the previous year[20]. - The total liabilities increased to CNY 13.64 billion, compared to CNY 12.56 billion, reflecting a growth of about 8.6%[162]. - Owner's equity totaled CNY 9.59 billion, up from CNY 8.97 billion, indicating a growth of approximately 6.8%[163]. - The asset-liability ratio slightly increased to 58.72% from 58.32% year-on-year[151]. Corporate Governance and Compliance - The company did not propose any profit distribution or capital reserve transfer plan for the first half of 2018[96]. - The actual controller and shareholders committed to not engaging in any competing business with the company, ensuring no direct or indirect competition[96]. - The board of directors guaranteed the independent operation of the company's production, supply, sales, and financial systems to maintain asset integrity[97]. - The company has not faced any penalties or corrective actions during the reporting period[98]. Environmental and Social Responsibility - The company has implemented an environmental management system and has not faced any environmental violations or penalties in the past five years[115]. - The company actively engages in sustainable practices, ensuring compliance with environmental standards and promoting green initiatives[116]. - The company plans to establish a 17,000-acre medicinal herb base annually in Shanzhou from 2018 to 2020 as part of its poverty alleviation efforts[107]. - The company has guided over 600 impoverished households to plant medicinal herbs on 3,000 acres, generating an economic benefit of CNY 7.5 million[108]. Financial Structure and Shareholder Information - The total number of shares before the distribution was 1,080,475,878, and after the distribution, it increased to 1,512,666,229 shares, reflecting a total increase of 432,190,351 shares[131]. - The cash dividend distributed was 0.4 RMB per share, totaling 432,190,351.20 RMB[131]. - The company has implemented a share distribution plan that included both cash dividends and stock dividends[131]. - The total amount of guarantees provided to subsidiaries during the reporting period was approximately CNY 1.25 billion[103].

Financial Performance - Operating revenue grew by 18.06% year-on-year, reaching CNY 3.95 billion, with pharmaceutical manufacturing revenue up 15.16% and pharmaceutical commerce revenue up 20.43%[5] - Net profit attributable to shareholders increased by 16.77% to CNY 371.51 million[5] - Basic earnings per share rose by 16.74% to CNY 0.3438[5] - The weighted average return on net assets increased by 0.28 percentage points to 4.20%[5] - Total operating revenue for Q1 2018 reached ¥3,952,350,207.34, an increase of 18.0% compared to ¥3,347,663,813.62 in the same period last year[29] - Net profit for Q1 2018 was ¥376,500,695.19, representing a 16.7% increase from ¥322,624,371.35 in Q1 2017[30] - Earnings per share for Q1 2018 were ¥0.3438, compared to ¥0.2945 in the previous year, reflecting a growth of 16.7%[31] Cash Flow - Cash flow from operating activities improved significantly, with a net increase of 121.04% to CNY 151.27 million compared to the same period last year[6] - Net cash flow from operating activities improved by 121.04% to ¥151,272,627.38, driven by higher receivables collection[14] - Total cash inflow from operating activities amounted to 4,728,537,775.53 RMB, while cash outflow was 4,577,265,148.15 RMB, resulting in a net cash inflow of 151,272,627.38 RMB[36] - The net cash flow from operating activities was 151,272,627.38 RMB, compared to a negative cash flow of -719,011,922.67 RMB in the previous period, indicating a significant improvement[36] - The company recorded a net cash flow from operating activities of 960,107,625.64 RMB, a substantial improvement from -327,701,910.73 RMB in the previous period[39] Assets and Liabilities - Total assets increased by 5.74% to CNY 22.77 billion compared to the end of the previous year[5] - Current assets rose to ¥16.11 billion, up from ¥15.05 billion, indicating an increase of about 7%[22] - Total liabilities decreased to ¥13.33 billion from ¥12.56 billion, a reduction of approximately 6%[23] - Short-term borrowings decreased to ¥6.11 billion from ¥6.95 billion, a decline of about 12%[22] - Long-term borrowings increased to ¥1.61 billion from ¥0.89 billion, showing a growth of approximately 80.9%[22] - The company's equity increased to ¥9.44 billion from ¥8.97 billion, representing a growth of approximately 5.2%[23] Shareholder Information - The total number of shareholders reached 28,352 at the end of the reporting period[10] - Tianjin Tianshili Holdings Group Co., Ltd. holds 45.18% of the shares, with 81.37 million shares pledged[10] Investment and Expenses - Sales expenses grew by 35.22% to ¥509,546,728.89, attributed to increased market investment and network construction[14] - Financial expenses surged by 82.76% to ¥106,821,908.24 due to an increase in interest-bearing liabilities[14] - Investment income increased by 377.72% to ¥9,110,401.06, mainly from financial management gains and equity disposal[14] - The company reported a total of CNY 12.22 million in non-recurring gains and losses for the period[11] Inventory and Receivables - Accounts receivable interest increased by 848.65% to ¥1,139,633.21 due to increased borrowings during the reporting period[13] - Other receivables rose by 51.15% to ¥355,235,684.89, primarily due to increased deposits and petty cash[13] - Goodwill increased by 31.42% to ¥181,443,915.33, mainly from the premium acquisition of Shanxi Kangmeilai[13] - The company reported a significant increase in inventory to ¥2.50 billion from ¥2.23 billion, reflecting a rise of about 12.1%[21] Strategic Developments - The company has not disclosed any new product developments or market expansion strategies in this report[5] - The company plans to restructure its biopharmaceutical segment and aims to list its subsidiary Shanghai Tianshili on the Hong Kong Stock Exchange[16] - The acquisition of 51% of Shanxi Kangmeilai was completed, with the first payment of approximately ¥69.47 million made[15] Quarterly Performance - Total operating costs for Q1 2018 were ¥3,515,008,427.83, up 19.2% from ¥2,950,121,841.60 in Q1 2017[29] - The total cash outflow for operating activities was 1,141,142,682.35 RMB, compared to 978,497,025.84 RMB in the previous period, showing increased operational costs[39] - Cash outflow for investment activities was 804,073,915.20 RMB, down from 966,157,933.86 RMB in the previous period, indicating a reduction in investment spending[39]

Financial Performance - The net profit attributable to the parent company's shareholders for 2017 was CNY 1,376,542,191.28, with a statutory surplus reserve of CNY 114,373,344.36 extracted from the parent company's net profit of CNY 1,143,733,443.64[5]. - The total undistributed profits for 2017 after dividend distribution amounted to CNY 5,174,333,054.48, with a cash dividend of CNY 4.00 per 10 shares, totaling CNY 432,190,351.20[6]. - The company's operating revenue for 2017 was approximately ¥16.09 billion, representing a year-on-year increase of 15.41% compared to ¥13.95 billion in 2016[24]. - Net profit attributable to shareholders of the listed company reached approximately ¥1.38 billion, up 17.01% from ¥1.18 billion in 2016[24]. - The company's total revenue for 2017 was approximately ¥16.09 billion, representing a year-on-year growth of 15.41%[86]. - The company achieved a revenue growth of 15.41% year-on-year, with a net profit increase of 17.01% during the reporting period[59]. - The operating costs rose by 15.81% to approximately ¥10.25 billion, with pharmaceutical industrial costs increasing by 5.68% and pharmaceutical commercial costs by 18.32%[89]. - The company reported a total revenue of CNY 16,020,637,242.44, with a gross margin of 36.22%[148]. - The cardiovascular treatment segment generated revenue of CNY 4,856,382,408.23, reflecting a year-on-year increase of 6.05%[148]. - The company’s oncology segment reported a revenue of CNY 682,413,505.57, with a year-on-year increase of 24.24%[148]. Risk Management - The company reported no significant risks that could materially affect its operations during the reporting period[10]. - The company has outlined various risks and countermeasures in its management discussion and analysis section, including industry and operational management risks[10]. - The company has strengthened its credit management system to address risks associated with customer management and longer payment terms due to industry policy changes[185]. - The company is addressing industry risks, including price reductions and new product development challenges, by improving management and expanding product offerings in local medical insurance directories[181][182]. Research and Development - The company has a total of 74 products in the R&D pipeline, including 37 self-developed products, 31 introduced products, 2 collaborative R&D products, and 4 market priority licenses[71]. - The company has established a comprehensive R&D system that integrates project management and professional management, focusing on disease areas[137]. - The company is committed to a diversified R&D resource allocation model, emphasizing innovative drug development and the cultivation of major product varieties[182]. - The company has a strong focus on innovation, with a significant portion of its R&D resources allocated to high-tech and high-value-added pharmaceutical products[144]. - The company achieved a research and development expenditure of approximately ¥615.70 million, marking a 39.95% increase compared to the previous year[87]. - The company is focusing on three major therapeutic areas: cardiovascular, digestive metabolism, and anti-tumor, with multiple new drugs in development[74]. - The company is developing a new generation of lipid-lowering drugs targeting AMPK, which is currently in clinical research[75]. - The company has introduced innovative drugs such as PXT3003, the first orphan drug for Charcot-Marie-Tooth disease, which is progressing well in Phase III clinical trials in the US[72]. Market Position and Strategy - The company operates under a dual business model: self-operated sales of industrial products and third-party product sales, enhancing its market reach[38]. - The company’s market share in urban community traditional Chinese medicine is 3.8%, ranking first nationally, while its market share in urban pharmacies is 1.8%, ranking third[49]. - The company has established a comprehensive marketing network covering 65% of hospitals and 78% of community medical service units across the country[56]. - The company is focusing on innovative product development and optimizing its product structure to ensure sustainable growth in performance[43]. - The company is actively pursuing the consistency evaluation of generic drugs, with 9 products and 13 specifications undergoing evaluation, and 9 specifications completing process validation[119]. - The company is leveraging a dual-channel innovative sales model to adapt to national policies and industry changes, improving compliance and operational efficiency[121]. Corporate Governance and Compliance - The company has maintained a commitment to transparency, with all board members present at the board meeting to ensure the accuracy of the annual report[9]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties during the reporting period[8]. - The company’s financial statements received a standard unqualified audit opinion from Tianjian Accounting Firm[4]. - The company has committed to maintaining independent operations and ensuring fair pricing in related party transactions to protect shareholder interests[198]. Production and Quality Control - The company’s production strictly adheres to GMP standards, ensuring quality control throughout the manufacturing process[40]. - The company has established a modern Chinese medicine platform, a biopharmaceutical platform, and a chemical drug platform, focusing on digitalization and intelligent manufacturing[84]. - The company is enhancing its smart manufacturing capabilities to reduce costs and improve efficiency across the entire production chain[179]. - The company has established a GAP-standard Danshen planting base in Shaanxi to ensure the quality and stable supply of raw medicinal materials[99]. Investments and Acquisitions - The company has invested in several leading pharmaceutical companies, including Paige Bio and Jianya Bio, to enhance its product offerings in diabetes treatment[57]. - The company plans to invest 310 million in its wholly-owned subsidiary Shanghai Tianshili Pharmaceutical Co., Ltd., for acquiring an 8.80% stake in Shanghai Saiyuan Biotechnology Co., Ltd.[157]. - The company has made significant investments in research and development, particularly in partnerships with companies like CARDIODX, INC. and Genova Inc. Limited[156]. - The company has authorized its subsidiary Tianshili (Hong Kong) Pharmaceutical Co., Ltd. to make investments that enhance core competitiveness, with a capital increase of 20 million USD[161]. Future Outlook - The biopharmaceutical market in China is projected to grow from 1,527 billion yuan in 2016 to 3,269 billion yuan by 2021, with a compound annual growth rate of 16.4%[168]. - The company plans to enhance its product pipeline in the anti-tumor field, targeting various cancers such as lymphoma and breast cancer[172]. - The company is focusing on diabetes treatment, with an estimated 1.096 billion diabetes patients in China as of 2015, and aims to create a closed-loop service for precision diabetes treatment[171]. - The company plans to accelerate the introduction of innovative products and digital transformation, focusing on the biopharmaceutical sector and aiming for a listing in Hong Kong[174].

2017 年第三季度报告 公司代码：600535 公司简称：天士力 天士力医药集团股份有限公司 2017 年第三季度报告 1 / 24 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 12 | 2017 年第三季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | | 本报告期末 | | 上年度末 | | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 减(%) | | | 总资产 | 20,603,544,580.23 | | 17,126,271,668.30 | | | 20.30 | | 归属于上市公司股东的净资 | 8,501,269,977.35 | | 7,963,843,055.51 | | | 6.75 | | 产 | | | | | | | | | 年初至报告期末 | | 上年初至上年报告期末 | | 比上年同期增减(%) | | | | （1-9 | ...

Financial Performance - The company's operating revenue for the first half of 2017 was ¥7,264,469,169.33, representing a 13.53% increase compared to ¥6,398,922,286.17 in the same period last year[20] - The net profit attributable to shareholders for the first half of 2017 was ¥756,227,406.36, up 10.43% from ¥684,784,938.66 in the previous year[20] - The basic earnings per share for the first half of 2017 was ¥0.6999, a 10.43% increase from ¥0.6338 in the same period last year[21] - The diluted earnings per share for the first half of 2017 was also ¥0.6999, marking a 10.43% increase compared to the previous year[21] - The weighted average return on net assets for the first half of 2017 was 9.06%, an increase of 0.20 percentage points from 8.86% in the previous year[21] - The company achieved a sales revenue and net profit growth of over 10% compared to the same period last year, driven by the successful entry of the thrombolytic biopharmaceutical product, Pu You Ke, into the national medical insurance catalog[38] - The company reported a significant increase in inventory, which stood at CNY 1,925,599,087.32, down from CNY 2,011,880,385.89, a decrease of about 4.3%[130] - The company reported a net profit of 756 million RMB in the first half of 2017, compared to 685 million RMB in the same period of 2016, representing an increase of approximately 10.36%[120] Cash Flow and Financial Position - The net cash flow from operating activities was negative at -¥1,174,381,030.20, a decrease of 275.00% compared to ¥671,071,247.54 in the same period last year[20] - The net cash flow from financing activities improved significantly to ¥1,319,158,643.12, a 458.19% increase from -¥368,288,110.48 in the previous year[54] - The current ratio decreased by 7.30% from 1.37 at the end of the previous year to 1.27 at the end of the reporting period[122] - The debt-to-asset ratio increased from 52.08% at the end of the previous year to 55.79% at the end of the reporting period, an increase of 3.71%[122] - The company maintained a loan repayment rate of 100% during the reporting period[122] - The company reported a net cash outflow from operating activities of CNY -1,174,381,030.20, compared to a net inflow of CNY 671,071,247.54 in the previous period[144] - The total cash inflow from financing activities included 123,862,363.65 RMB from other financing activities, compared to 372,192,906.55 RMB in the previous year[148] Assets and Liabilities - The total assets at the end of the reporting period were ¥19,074,416,393.43, an increase of 11.38% from ¥17,126,271,668.30 at the end of the previous year[20] - Total liabilities reached CNY 10,641,172,721.79, compared to CNY 8,919,577,026.31 at the start of the period, reflecting an increase of about 18.3%[131] - Owner's equity totaled CNY 8,433,243,671.64, up from CNY 8,206,694,641.99, representing a growth of approximately 2.8%[132] - The company reported a decrease in capital reserve by CNY 33,519,707.54 during the period, indicating a reduction in owner contributions[156] - The total equity at the end of the reporting period is 7,259,101,388.82 CNY, with a capital stock of 1,080,475,878.00 CNY and a capital reserve of 2,265,424,012.62 CNY[160] Research and Development - The company has established a "four-in-one" research and development model to accelerate innovation and product development, leveraging diverse research resources[33] - The company is focusing on innovative drug development and has established a diversified R&D resource allocation model to accelerate the transformation of innovation results[69] - The company has made significant advancements in R&D, with several leading products receiving clinical approval, including the first domestic traditional Chinese medicine for treating axial spondyloarthritis[38] - The company holds a total of 1,462 patents as of June 30, 2017, including 1,313 invention patents, with key products like Compound Danshen Dripping Pills having 439 patents[35] Market Strategy and Expansion - The company aims to establish itself as a leader in modern Chinese medicine innovation and the formulation of modern Chinese medicine scientific standards[27] - The company has developed a comprehensive internationalized pharmaceutical industry structure, focusing on modern Chinese medicine, biological drugs, and chemical drugs[27] - The company plans to expand its hospital layout and enhance grassroots market coverage to increase sales volume for its biological drug products[28] - The company is advancing its international projects, with 7 drug candidates under research, including 6 submissions to the FDA, of which 4 are traditional Chinese medicine and 2 are chemical drugs[43] - The company is focusing on three major therapeutic areas, with multiple new drugs progressing simultaneously, enhancing its competitive positioning in the market[45] Risk Management - The company reported no significant risks that could materially affect its operations during the reporting period[6] - The company is facing risks related to price fluctuations of raw materials and energy costs, which have shown an upward trend in recent years[69] - The company aims to improve management of subsidiaries to mitigate operational risks[71] - The company is facing talent shortages in R&D, marketing, and technical support due to rapid internationalization, which may impact core competitiveness[74] Corporate Governance and Compliance - The company has committed to maintaining independent production and supply systems to ensure the integrity and independence of its assets[81] - The board guarantees that the company will use raised funds independently and effectively to improve operational conditions and profitability[81] - The company has implemented strict regulations on potential new related-party transactions to ensure fair pricing and reduce occurrences[81] - The company has not experienced any bankruptcy reorganization matters during the reporting period[83] Environmental and Social Responsibility - The company is one of the first in Tianjin to pass clean production audits and conducts regular ISO14001 environmental management system certifications[92] - The company has established an energy management system (GB/T23331) and has conducted energy audits, resulting in total production energy consumption, added value energy consumption, and total production water consumption being lower than the industry average for traditional Chinese medicine[93] - The company invested nearly ¥57.36 million in establishing a Danshen medicinal herb base in Shaanxi, contributing to local industry and skill poverty alleviation[90] - The company plans to continue its poverty alleviation efforts in relatively impoverished areas like Shaanxi and Yunnan by transforming "grain farmers" into "medicinal herb farmers" through large-scale planting bases[91]

2017 年第一季度报告 公司代码：600535 公司简称：天士力 天士力制药集团股份有限公司 2017 年第一季度报告 1 / 21 | 一、 | 重要提示 | | 3 | | --- | --- | --- | --- | | 二、 | 公司基本情况 | | 3 | | 三、 | 重要事项 | | 7 | | 四、 | 附录 | | 10 | 2017 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 3 / 21 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度 末增减(%) 总资产 17,967,337,104.69 17,126,271,668.30 4.91 归属于上市公 司股东的净资 产 8,282,105,341.95 7,963,843,055.51 4.00 年初至报告期末 上年初至上年报告 期末 比上年同期增减(%) 经营活动产生 的现金流量净 额 -719,011,922.67 137,120,108.62 -624.37 年初至报告期末 上年初至上年报告 期末 比上年同期增减（%） 营业收入 3,347,663,813.62 3,144,742 ...

Financial Performance - The net profit attributable to the parent company for 2016 was CNY 1,176,424,939.73, with a statutory surplus reserve of CNY 91,897,240.24 deducted from the parent company's net profit of CNY 918,972,402.36[5]. - The total undistributed profits after the dividend distribution for 2016 amounted to CNY 4,517,230,699.24, with a cash dividend of CNY 5.60 per 10 shares, totaling CNY 605,066,491.68[5]. - The company's operating revenue for 2016 was CNY 13,945,496,952.20, representing a year-on-year increase of 5.47%[20]. - The net profit attributable to shareholders decreased by 20.43% to CNY 1,176,424,939.73 compared to 2015[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 18.60% to CNY 1,155,186,396.18[20]. - Cash flow from operating activities increased significantly by 239.33% to CNY 1,153,728,620.57, compared to the previous year[20]. - The company's total assets grew by 11.12% to CNY 17,126,271,668.30 at the end of 2016[20]. - The weighted average return on equity decreased to 15.24%, down from 22.82% in 2015, a decline of 7.58 percentage points[21]. - The basic earnings per share for 2016 was CNY 1.09, a decrease of 21.01% from CNY 1.38 in 2015[21]. - The total undistributed profits after the dividend distribution will be CNY 3,912,164,207.56[5]. Audit and Compliance - The company reported a standard unqualified audit opinion from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[8]. - The company has committed to maintaining transparency and accuracy in its financial reporting, as stated by its management[8]. - The company has not violated any decision-making procedures regarding external guarantees during the reporting period[7]. - There were no significant risks that materially affected the company's operations during the reporting period, as detailed in the risk management section[7]. - The company has not engaged in non-operating fund occupation by controlling shareholders or related parties[7]. Risk Management - The company has outlined various risks it may face in its operations, including industry and management risks, along with corresponding mitigation strategies[7]. - The company is addressing management risks associated with its subsidiaries by enhancing internal controls and establishing a comprehensive budget management system[151]. - The company acknowledges the high risks associated with new product development, including long development cycles and unpredictable factors affecting market performance[147]. - The company has implemented risk management measures for investments and acquisitions, including strict pre-investment feasibility analyses and post-investment evaluations[152]. Research and Development - The company has established a "four-in-one" R&D model focusing on unmet clinical needs, combining independent, cooperative, external introduction, and investment priority licensing[49]. - The company has 68 ongoing new drug and patent expiration projects as of the end of the reporting period[63]. - The company has developed a series of specialized chemical drugs, including Temozolomide capsules and Zolpidem tablets, targeting oncology, cardiovascular, and psychiatric markets[33]. - The company is focusing on enhancing its new product development system and increasing investment in innovative drug research to mitigate development risks[96]. - The company has established GAP-certified and EU organic-certified medicinal herb planting bases to ensure stable supply and reduce raw material price volatility[149]. Market and Product Development - The company aims to lead the modernization and internationalization of traditional Chinese medicine, focusing on a comprehensive pharmaceutical industry chain[29]. - The company successfully completed a Phase III clinical trial for its compound Danshen dripping pill, marking a significant milestone in modern Chinese medicine[29]. - The company achieved a significant milestone in internationalization with the compound Danshen dripping pill showing a notable efficacy in treating chronic stable angina, outperforming placebo and other control groups in increasing total exercise duration (TED)[30]. - The company is expanding its biopharmaceutical product cluster through significant investments and mergers, enhancing its quality platform in the biopharmaceutical industry[32]. - The company has identified five priority products for consistency evaluation in generic drugs, aiming to enhance product quality and optimize production processes[33]. Sales and Marketing - The company operates a dual sales model, with a significant portion of revenue coming from its pharmaceutical commercial sales, supported by a nationwide marketing network[37]. - The company’s pharmaceutical wholesale business includes medical institution distribution and retail pharmacy sales, focusing on profit from price differences[38]. - The main performance drivers for 2016 included breakthroughs in traditional Chinese medicine internationalization, expansion of medical insurance, product structure optimization, and innovation in marketing models[38]. - The company has a comprehensive marketing network with 29 regions and 782 offices across the country[129]. Financial Management - The company has engaged in cash asset management through various financial institutions, with multiple transactions exceeding CNY 100 million[175]. - The company plans to increase the limit for idle funds used in low-risk short-term financial products to 10% of the latest audited net assets attributable to the parent company[175]. - The company has confirmed that all entrusted financial management activities do not constitute related party transactions[175]. - The company reported a total revenue of 150 million RMB for the year, with a year-on-year growth of 10%[165]. Corporate Governance - The board guarantees that the company will maintain an independent production, supply, and sales system to protect its assets and interests[160]. - The company will ensure fair pricing in related party transactions and adjust prices based on market conditions[160]. - The board will implement effective measures to regulate and limit related party transactions to minimize conflicts of interest[160]. - The company has established a priority right to purchase any assets or businesses sold by its controlling entities[159]. Social Responsibility and Environmental Impact - The company has established an energy management system and conducts energy audits to manage electricity, water, and fuel consumption[200]. - Tianshi has implemented measures to control environmental impacts, including the introduction of a granulator with enhanced dust recovery capabilities[200]. - Tianshi's total energy consumption per unit of output is lower than the industry average for traditional Chinese medicine[200]. - Tianshi's 2016 poverty alleviation funding totaled RMB 34 million, with RMB 32 million allocated for industrial development and RMB 200,000 for educational support[198].

2016 年第三季度报告 公司代码：600535 公司简称：天士力 天士力制药集团股份有限公司 2016 年第三季度报告 1 / 26 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司主要财务数据和股东变化 3 | | 三、 | 重要事项 8 | | 四、 | 附录 14 | 2016 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人闫凯境、主管会计工作负责人朱永宏及会计机构负责人（会计主管人员）王瑞华 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 3 / 26 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 15,875,867,118.62 15,412,691,154.73 3.01 归属于上市公司 股东的净资产 7,985,048,813 ...

Financial Performance - The company's operating revenue for the first half of 2016 was approximately RMB 6.40 billion, representing a 2.71% increase compared to RMB 6.23 billion in the same period last year[21]. - The net profit attributable to shareholders decreased by 17.50% to approximately RMB 684.78 million from RMB 830.08 million year-on-year[21]. - The net profit after deducting non-recurring gains and losses was approximately RMB 671.01 million, down 17.36% from RMB 812.01 million in the previous year[21]. - The basic earnings per share for the first half of 2016 was RMB 0.63, a decrease of 20.25% compared to RMB 0.79 in the same period last year[20]. - The weighted average return on net assets decreased by 6.87 percentage points to 8.86% from 15.73% year-on-year[20]. - The company's revenue for the first half of 2016 was approximately CNY 6.40 billion, representing a 2.71% increase compared to the same period last year[37]. - The main business income grew by 2.61%, while pharmaceutical commercial revenue surged by 20.37%, contrasting with a 15.31% decrease in pharmaceutical industrial revenue[37]. - The net profit for the first half of 2016 was CNY 706,671,182.58, a decrease of 17.88% from CNY 860,637,982.83 in the previous year[142]. - The total comprehensive income for the period amounts to CNY 706,513,304.85, with a significant contribution from undistributed profits[154]. Cash Flow and Liquidity - The cash flow from operating activities increased significantly by 291.32% to approximately RMB 671.07 million, compared to RMB 171.49 million in the same period last year[21]. - The net cash flow from operating activities for the first half of 2016 was ¥671,071,247.54, a significant increase from ¥171,490,622.55 in the same period last year, representing a growth of approximately 290%[147]. - Total cash inflow from operating activities reached ¥8,210,960,321.72, compared to ¥6,647,292,326.49 in the previous year, indicating a year-over-year increase of about 23.5%[147]. - The cash outflow from operating activities was ¥7,539,889,074.18, up from ¥6,475,801,703.94, reflecting an increase of approximately 16.4%[147]. - The company maintained a cash balance of RMB 1.248 billion as of June 30, 2016[118]. - The company has a total unused credit line of approximately ¥555,294,890.00, indicating strong liquidity management[129]. Assets and Liabilities - The total assets at the end of the reporting period were approximately RMB 15.72 billion, an increase of 1.99% from RMB 15.41 billion at the end of the previous year[21]. - The net assets attributable to shareholders increased by 2.64% to approximately RMB 7.67 billion from RMB 7.47 billion at the end of the previous year[21]. - The company's total assets at the end of the period were CNY 7,065,996,048.30, indicating a robust asset base for future operations[159]. - The company's asset-liability ratio improved slightly to 49.75% from 50.00%[122]. - Total liabilities increased slightly to ¥7,820,249,848.81 from ¥7,705,759,965.94, an increase of 1.49%[135]. Research and Development - The company has 60 ongoing research projects, including 22 traditional Chinese medicine projects and 22 chemical drug projects, with 11 new drug projects in the first half of 2016[29]. - The company completed the FDA Phase III clinical trials for its flagship product, Compound Danshen Dripping Pill, across 127 clinical centers in 9 countries/regions[28]. - R&D expenditure decreased by 7.25% to CNY 207.71 million, primarily due to the completion of Phase III clinical trials for compound Danshen dripping pills[38]. - The company has established a national-level enterprise technology center and has undertaken several key national research projects, demonstrating its R&D capabilities[57]. Investments and Acquisitions - The company plans to invest 15,571.86 million RMB in the new production line for Compound Danshen Dripping Pills and Qi Shen Yi Qi Dripping Pills, with 710.52 million RMB invested in the reporting period[71]. - The company adjusted part of the investment amounting to 13,172.70 million RMB from the new production line project to acquire 100% equity of Jiangsu Tianshili Diyi Pharmaceutical Co., Ltd.[71]. - The company acquired Jiangsu Ti Yi Pharmaceutical Co., Ltd. for 13,172.70 million, which is expected to contribute positively to net profit in the first half of 2016[73]. Financial Management - The total amount of entrusted financial management reached CNY 3,613,448,200, with actual recovered principal amounting to CNY 3,443,438,200 and total actual earnings of CNY 1,912,295.76[66]. - The company has a policy to invest temporarily idle self-owned funds in low-risk short-term financial products, with a maximum balance of CNY 350,000,000 at any given time[66]. - The company has consistently achieved positive returns on its financial management activities, with various investments yielding earnings ranging from CNY 219.18 to CNY 40,242.47[63][66]. Corporate Governance and Compliance - The company has committed to not engaging in any business that competes with its own products and will take measures to prevent any potential conflicts of interest[90]. - The board guarantees that all related transactions will be conducted at fair and reasonable prices, adjusting transaction prices based on market conditions[91]. - The company emphasizes the importance of compliance with laws and regulations regarding related party transactions[91]. - The company has established a strict regulatory framework for future related transactions to minimize conflicts of interest and ensure fair pricing[91]. Market and Sales Strategy - The company has launched a new marketing model focusing on community and hospital segments, enhancing brand loyalty and market coverage[33]. - The marketing network covers 29 major regions and 782 offices, with partnerships with over 200 primary distributors and 2,000 secondary distributors, reaching over 60,000 pharmacies and nearly 20,000 hospitals[56]. - The company’s marketing strategy targets both domestic and international markets, emphasizing a differentiated approach to create consumer value[55]. Shareholder Information - The total number of shareholders at the end of the reporting period was 29,598[101]. - The largest shareholder, Tianjin Tianshili Holding Group Co., Ltd., held 488,201,106 shares, representing 45.18% of the total shares[103]. - The actual controllers of the company changed from Yan Xijun to a group of four individuals, holding shares in the proportions of 45%, 14%, 35%, and 6% respectively[107]. Legal and Regulatory Matters - There are no significant litigation, arbitration, or bankruptcy reorganization matters reported[86]. - The company has not reported any overdue guarantees during the reporting period[88].