2019 年半年度报告 公司代码：600713 公司简称：南京医药 南京医药股份有限公司 2019 年半年度报告 1 / 154 2019 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 未出席董事情况 未出席董事职务 未出席董事姓名 未出席董事的原因说明 被委托人姓名 董事 Richard Gorsuch 公务原因 骆训杰 三、 本半年度报告未经审计。 四、 公司负责人周建军、主管会计工作负责人孙剑及会计机构负责人（会计主管人员）李菁声明： 保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 公司半年度未进行利润分配。 公司2018 年度利润分配方案经公司于2019年5月20日召开的2018年年度股东大会审议通过，以公 司总股本1,041,611,244股为基数，向股权登记日登记在册的全体股东每股派发现金红利0.1元（含 税），共计派发现金红利104,161,124.40元（含税）。本次现金红利发放日为2019年7 ...

南京医药股份有限公司 2018 年年度报告 公司代码：600713 公司简称：南京医药 南京医药股份有限公司 2018 年年度报告 1 / 175 南京医药股份有限公司 2018 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 未出席董事情况 未出席董事职务 未出席董事姓名 未出席董事的原因说明 被委托人姓名 董事 Richard Gorsuch 公务原因 骆训杰 三、 毕马威华振会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人周建军、主管会计工作负责人孙剑及会计机构负责人（会计主管人员）李菁声明： 保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 公司2018年度利润分配预案为：以2018年末公司总股本1,041,611,244股为基数，向全体股东每10 股派发现金红利1.00元(含税)。本次实际用于分配的利润总计104,161,124.40元，剩余可分配利润 转入下一年度分配。2 ...

2019 年第一季度报告 公司代码：600713 公司简称：南京医药 南京医药股份有限公司 2019 年第一季度报告 1 / 27 2019 年第一季度报告 í 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 27 2019 年第一季度报告 单位：元 币种：人民币 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 公司负责人周建军、主管会计工作负责人孙剑及会计机构负责人（会计主管人员）李菁保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |-------------------------------------------------|------------ ...

南京医药股份有限公司 2018 年年度报告 公司代码：600713 公司简称：南京医药 南京医药股份有限公司 2018 年年度报告 1 / 175 南京医药股份有限公司 2018 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 未出席董事情况 未出席董事职务 未出席董事姓名 未出席董事的原因说明 被委托人姓名 董事 Richard Gorsuch 公务原因 骆训杰 三、 毕马威华振会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人周建军、主管会计工作负责人孙剑及会计机构负责人（会计主管人员）李菁声明： 保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 公司2018年度利润分配预案为：以2018年末公司总股本1,041,611,244股为基数，向全体股东每10 股派发现金红利1.00元(含税)。本次实际用于分配的利润总计104,161,124.40元，剩余可分配利润 转入下一年度分配。2 ...

Financial Performance - Revenue for the first nine months reached CNY 22.60 billion, a growth of 10.48% year-on-year[6] - Net profit attributable to shareholders increased by 15.41% to CNY 182.19 million for the first nine months[6] - The company reported a basic earnings per share of CNY 0.193, unchanged from the previous year[7] - The company reported a net profit of ¥1,407,858.40 for R&D expenses in Q3 2018, significantly higher than ¥449,789.66 in Q3 2017, showing a growth of 212.5%[38] - The net profit for the third quarter of 2018 was CNY 119.28 million, an increase from CNY 64.03 million in the same period last year, representing an increase of approximately 86.4%[44] - The company reported a total profit of CNY 120.73 million for the third quarter, compared to CNY 66.89 million in the same quarter of the previous year, reflecting a growth of approximately 80.7%[44] - The total comprehensive income for Q3 2018 was ¥51,514,125.44, a decrease from ¥78,549,041.09 in Q3 2017[41] Cash Flow and Financing - The net cash flow from operating activities was negative at CNY -1.24 billion, compared to CNY -1.04 billion in the same period last year[6] - The company raised CNY 8.83 billion through borrowings in the first nine months of 2018, compared to CNY 7.14 billion in the same period last year, indicating a significant increase in financing activities[47] - The total cash inflow from financing activities was CNY 13.36 billion, up from CNY 7.54 billion in the previous year, representing an increase of approximately 77.4%[47] - Net cash flow from operating activities was -¥66,148,206.30, improving from -¥147,012,760.53 year-over-year[50] - Total cash inflow from financing activities amounted to ¥12,663,716,999.46, a significant increase from ¥6,901,000,000.00 in the prior year[52] - Cash and cash equivalents at the end of the period totaled ¥1,109,781,641.88, compared to ¥682,649,930.88 at the end of the previous year[52] Assets and Liabilities - Total assets increased by 21.79% to CNY 19.40 billion compared to the end of the previous year[6] - The company's total liabilities reached CNY 15.14 billion, compared to CNY 12.74 billion at the beginning of the year, representing an increase of about 18.8%[31] - The company's current assets totaled CNY 17.68 billion, up from CNY 14.34 billion at the beginning of the year, indicating a growth of approximately 23.5%[29] - Accounts receivable and notes receivable increased by 36.86% to RMB 11,962,852,022.50 compared to the beginning of the year, mainly due to sales growth and adjustments in sales structure[12] - The company's equity attributable to shareholders rose to CNY 3.83 billion from CNY 2.78 billion, an increase of approximately 37.9%[31] - The total assets of the company as of Q3 2018 amounted to ¥12,215,068,803.35, compared to ¥9,342,949,048.28 at the end of Q3 2017, representing a growth of 30.1%[35] Investments and Acquisitions - The company acquired 51% equity in Suzhou Hengsheng Pharmaceutical Co., Ltd. for a total price of CNY 22.95 million[23] - The company completed the acquisition of 100% equity in Nanjing East China Pharmaceutical Co., Ltd. for CNY 30.51 million and 30% equity in Nanjing Jinling Pharmacy Co., Ltd. for CNY 2.98 million, totaling CNY 33.48 million[24][25] - The company plans to invest CNY 30 million to establish a Traditional Chinese Medicine Cultural Health Industry Center through its subsidiary Nanjing Pharmaceutical Co., Ltd.[25] Research and Development - R&D expenses surged by 307.80% to RMB 4,803,628.45, reflecting the company's increased investment in research and development[13] Shareholder Information - The number of shareholders at the end of the reporting period was 70,344[10] - The largest shareholder, Nanjing Pharmaceutical Group Co., Ltd., holds 23.22% of the shares[10]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 14,767,193,249.31, representing a 9.45% increase compared to CNY 13,492,497,878.58 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 138,797,783.02, up 23.52% from CNY 112,367,652.84 year-on-year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 141,030,000.62, a significant increase of 44.76% compared to CNY 97,421,343.57 in the previous year[20]. - Basic earnings per share for the first half of 2018 were CNY 0.137, a 9.60% increase from CNY 0.125 in the same period last year[22]. - The company reported a total comprehensive income of CNY 230,774,339.82 for the first half of 2018, compared to CNY 147,459,376.92 in the same period of 2017, reflecting a growth of 56.38%[145]. - The net profit for the first half of 2018 reached CNY 173,913,263.91, representing a 18.43% increase from CNY 146,856,495.62 in the previous year[145]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 18,039,890,651.65, reflecting a 13.28% increase from CNY 15,925,206,287.67 at the end of the previous year[21]. - The total liabilities of the company were CNY 13,826,263,134.53, up from CNY 12,738,684,465.19, reflecting an increase of approximately 8.5%[138]. - The equity attributable to the parent company reached CNY 3,797,795,223.79, compared to CNY 2,777,721,431.60 at the beginning of the period, indicating a growth of about 36.6%[139]. - The total assets of the company at the end of the period were 3,257.37 million RMB, showing growth from the previous total[165]. Cash Flow - The net cash flow from operating activities was negative at CNY -711,804,874.87, slightly improved from CNY -723,221,515.15 in the same period last year[20]. - The cash flow from operating activities showed a net outflow of ¥711,804,874.87, slightly improved from a net outflow of ¥723,221,515.15 in the previous period[150]. - The cash inflow from financing activities was ¥8,951,730,457.47, significantly higher than ¥5,120,000,000.00 in the previous period, representing a growth of 75.5%[151]. - The overall financial position improved with a net increase in cash and cash equivalents of 389,385,274.30 RMB, compared to 225,079,504.23 RMB in the previous period[155]. Investments and R&D - Research and development expenses increased significantly by 113.42% to ¥7,725,732.33 from ¥3,619,990.38, indicating a stronger focus on innovation[63]. - The company is investing 200 million RMB in R&D for new drug development, focusing on oncology and chronic diseases, with expected completion by the end of 2019[93]. - The company made a total investment of ¥5,998.61 million during the reporting period, marking a 100% increase compared to the previous year[69]. Market Position and Strategy - The company serves over 46,000 customers and has established good relationships with the top 50 pharmaceutical suppliers[27]. - The company is ranked eighth in the domestic pharmaceutical distribution industry by business scale[27]. - The pharmaceutical distribution industry is expected to see increased competition and consolidation, with smaller companies struggling to survive[36]. - The company aims to leverage new technologies such as big data and cloud computing to improve its supply chain services[39]. - The company is focusing on expanding its "Internet+" business model to enhance its e-commerce capabilities[31]. Shareholder Information - The company completed a non-public offering of shares, increasing the total share capital to 1,041,611,244 shares from 897,425,598 shares at the end of the previous year[22]. - The top shareholder, Nanjing Pharmaceutical Group, holds 241,811,214 shares, representing 23.22% of the total shares[123]. - The company issued a total of 15 million yuan in short-term financing bonds across three phases in July and August 2018, with each issuance amounting to 5 million yuan[86]. Governance and Compliance - The company has committed to maintaining operational independence and avoiding conflicts of interest with its controlling shareholders[90]. - The company appointed KPMG Huazhen as the financial audit and internal control audit institution for the fiscal year 2018, with a total audit fee not exceeding RMB 3.3 million[95]. - There were no significant lawsuits or arbitration matters during the reporting period[95]. Operational Efficiency - The company’s inventory turnover rate remains high compared to peers, indicating strong operational efficiency[45]. - The company has a comprehensive logistics service that includes centralized procurement, regional storage, and unified distribution[32]. - The company is actively exploring new service models and business innovations to cultivate new profit growth points[59].

Financial Performance - Operating revenue for the period was CNY 7.53 billion, a 12.64% increase year-on-year[6] - Net profit attributable to shareholders was CNY 66.27 million, up 10.64% from the same period last year[6] - The company's tax and additional fees increased by 64.08% year-on-year, amounting to RMB 14,995,636.59, primarily due to sales growth[14] - Financial expenses rose by 37.35% year-on-year to RMB 83,769,591.65, attributed to increased financing scale and rising interest rates[14] - Total operating revenue for Q1 2018 was CNY 7,527,328,036.20, an increase of 12.6% compared to CNY 6,682,714,328.28 in Q1 2017[40] - Net profit for Q1 2018 reached CNY 79,716,403.34, representing a 7.2% increase from CNY 74,102,117.20 in Q1 2017[41] - The total profit for the current period was ¥24,607,257.26, up 56.3% from ¥15,771,545.66 in the previous period[45] Asset and Liability Changes - Total assets increased by 13.45% to CNY 18.07 billion compared to the end of the previous year[6] - The company's total liabilities reached CNY 13,879,161,430.18, compared to CNY 12,738,684,465.19 at the beginning of the year, which is an increase of about 8.9%[33] - The company reported a total current liability of CNY 13,648,880,576.88, up from CNY 12,508,385,120.48, indicating an increase of about 9.1%[32] - The company's cash and cash equivalents increased to CNY 2,060,108,285.52 from CNY 1,774,082,537.09, reflecting a growth of about 16.1%[31] - Accounts receivable rose to CNY 8,631,469,327.18, up from CNY 6,830,363,580.58, indicating an increase of approximately 26.4%[31] - Inventory levels increased to CNY 2,952,080,963.09 from CNY 2,636,061,205.20, marking a growth of around 11.9%[31] Cash Flow Analysis - The net cash flow from operating activities was negative at CNY -1.28 billion, compared to CNY -998.78 million in the previous year[6] - The net cash flow from operating activities decreased to -RMB 1,275,969,724.94, compared to -RMB 998,777,430.08 in the previous period[15] - The net cash flow from investment activities improved to RMB 22,951,761.01, a significant increase from -RMB 9,400,724.25 in the previous period[15] - The net cash flow from financing activities increased by 29.76% to RMB 1,426,668,621.93, mainly due to a non-public stock issuance raising RMB 939 million[15] - Cash inflow from financing activities totaled 5,555,648,555.46 CNY, compared to 2,967,352,200.07 CNY previously[53] - Cash outflow from financing activities was 4,174,831,834.26 CNY, an increase from 1,875,001,221.73 CNY year-over-year[53] Shareholder Information - Net assets attributable to shareholders increased by 35.45% to CNY 3.76 billion compared to the end of the previous year[6] - Basic and diluted earnings per share remained unchanged at CNY 0.067[6] - The total number of shareholders reached 73,125 by the end of the reporting period[10] - The equity attributable to the parent company increased to CNY 3,762,533,195.75 from CNY 2,777,721,431.60, reflecting a growth of approximately 35.4%[33] Strategic Initiatives - The company is actively pursuing strategic acquisitions to enhance its market position and expand its pharmaceutical supply chain resources[26] - The company completed a private placement raising CNY 939 million, contributing to the increase in capital reserves by 68.88%[13] - The company signed a letter of intent on April 9, 2018, to acquire at least 51% of the shares of Nanjing Huadong Pharmaceutical Co., Ltd. from its shareholders, including Jinling Pharmaceutical Co., Ltd.[26] Project Updates - The logistics center project is currently in the interior decoration phase, with equipment installation ongoing as per schedule[23] - The company received a total of RMB 1.148 billion in compensation for land and property expropriation from the Nanjing government[24] - The company has received partial compensation of RMB 1.3 billion for land and property expropriation in Yancheng, Jiangsu[24] Credit Rating - The company’s credit rating was upgraded to AA+ with a stable outlook by China Chengxin International Credit Rating Co., Ltd.[20]

Financial Performance - The audited consolidated net profit attributable to shareholders for 2017 was CNY 239,271,476.92, contributing to a total distributable profit of CNY 582,364,291.17 at year-end[6] - The profit distribution plan proposes a cash dividend of CNY 0.90 per 10 shares (including tax), based on a total share capital of 1,041,611,244 shares[6] - The company reported an initial undistributed profit of CNY 402,916,725.95 at the beginning of the year, after accounting for the current year's net profit and distributions[6] - The company's operating revenue for 2017 was CNY 27,473,449,174.44, representing a 2.82% increase compared to CNY 26,720,500,728.21 in 2016[22] - The net profit attributable to shareholders for 2017 was CNY 239,271,476.92, a significant increase of 32.73% from CNY 180,271,837.26 in 2016[22] - The basic earnings per share for 2017 was CNY 0.267, reflecting a 32.84% increase from CNY 0.201 in 2016[23] - The total assets at the end of 2017 amounted to CNY 15,925,206,287.67, which is a 14.06% increase from CNY 13,961,833,947.61 in 2016[22] - The net cash flow from operating activities for 2017 was CNY 187,697,616.38, a recovery from a negative cash flow of CNY -240,877,981.31 in 2016[22] - The company reported a weighted average return on equity of 8.832% for 2017, up from 7.313% in 2016, indicating improved profitability[23] - The net profit after deducting non-recurring gains and losses was CNY 206,855,207.06 for 2017, which is a 12.46% increase from CNY 183,944,149.34 in 2016[22] - The company’s net assets attributable to shareholders increased by 5.77% to CNY 2,777,721,431.60 at the end of 2017, compared to CNY 2,626,180,869.92 at the end of 2016[22] - The company reported an increase in undistributed profits to 582.36 million, up 44.54% from 402.92 million in the previous year, indicating stable operational performance[86] Audit and Compliance - The company has received a standard unqualified audit report from KPMG Huazhen, affirming the accuracy and completeness of the financial statements[5] - The company has committed to strict management and supervision of the raised funds, which will be stored in a designated account[120] - The company has ensured that the information disclosed regarding the non-public offering is accurate, complete, and truthful[120] - The company has not encountered any issues regarding the occupation of funds or the progress of debt recovery during the reporting period[121] - The company has not experienced any major accounting errors that would require correction during the reporting period[124] - The company has appointed KPMG Huazhen LLP as the financial audit firm for the fiscal year 2017, with an audit fee of RMB 2.7 million[125] Risk Management - The company has outlined potential risks in its operations, which are detailed in the "Discussion and Analysis of Operating Conditions" section[8] - The company emphasizes the importance of risk awareness in its forward-looking statements, advising investors to consider potential investment risks[7] - The company faces risks from rising financing costs due to its capital-intensive nature in the pharmaceutical distribution industry[111] - The company is focusing on strengthening its core business capabilities in response to significant changes in local drug bidding policies[111] - The company is enhancing its organizational collaboration and rapid response capabilities to adapt to market changes[111] Business Operations and Strategy - The company serves over 46,000 clients and has established strong partnerships with the top 50 pharmaceutical suppliers, ranking sixth in the domestic pharmaceutical distribution industry[33] - The company operates 330 retail stores, including nine regional brand chains, primarily located in Jiangsu, Anhui, and Fujian provinces[36] - The company has 23 logistics centers, with 13 being major logistics centers, enhancing its distribution capabilities across the country[49] - The company aims to build an integrated supply chain management platform, leveraging internet technology to enhance logistics efficiency[43] - The company is expanding its product line by developing medical devices, consumables, and diagnostic reagents to enrich its offerings[108] - The company is committed to building modern logistics centers, including a 70,000 square meter logistics center in Nanjing and a 30,000 square meter center in Fujian[109] - The company aims to enhance its market penetration and terminal coverage by expanding its market network and retail terminal network, focusing on regions such as Jiangsu, Anhui, Fujian, and Hubei[106] - The company plans to innovate in pharmaceutical services by leveraging technologies such as cloud computing and big data to create an "Internet + Pharmaceutical Services" model[107] Capital and Financing - The company completed a non-public stock issuance project, raising a total of nearly 939 million yuan[63] - The company has increased its short-term borrowings due to adjustments in its financing structure, resulting in a rise in bank credit borrowings[86] - The company has diversified its financing channels by issuing multiple direct financing instruments, reducing the total guarantee amount to subsidiaries[147] - The company registered to issue up to RMB 20 billion in short-term financing bonds to broaden financing channels[159] - The company issued a total of RMB 4 billion in short-term financing bonds in 2016, with various interest rates ranging from 3.00% to 4.45%[160][161][162][163][164][165][166] - The company approved a proposal to increase the registration limit for ultra-short-term financing bonds by RMB 2 billion, bringing the total limit to RMB 20 billion[168] Shareholder Information - The total number of ordinary shares increased to 1,041,611,244, with 897,425,598 shares being unrestricted and 144,185,646 shares subject to a lock-up period[181] - The largest shareholder, Nanjing Pharmaceutical Group, holds 241,811,214 shares, representing 26.94% of the total shares[187] - Alliance Healthcare Asia Pacific Limited holds 107,691,072 shares, accounting for 12.00% of the total shares[187] - The company did not report any changes in the shareholder structure or total assets and liabilities during the reporting period[184] - The company’s limited sale shares were released due to the completion of the lock-up period for shares issued in 2014[183] Future Outlook - Future outlook indicates a projected revenue growth of 10% for the upcoming fiscal year, driven by market expansion strategies[200] - The company is focusing on new product development, with an investment of 60 million allocated for R&D in innovative pharmaceuticals[200] - Market expansion efforts include entering three new regional markets, aiming for a 15% increase in market share[200] - Nanjing Pharmaceutical is exploring potential mergers and acquisitions to enhance its product portfolio and distribution channels[200] - The company has implemented new strategies to improve operational efficiency, targeting a 20% reduction in costs over the next year[200] - A new technology platform is being developed to streamline supply chain management, expected to reduce delivery times by 30%[200] - The company plans to enhance its digital marketing efforts, aiming for a 25% increase in online sales[200] - Nanjing Pharmaceutical is committed to sustainability initiatives, with a goal to reduce carbon emissions by 40% by 2025[200]

Financial Performance - Operating revenue for the first nine months reached CNY 20.45 billion, a 3.71% increase year-on-year[7] - Net profit attributable to shareholders was CNY 157.86 million, up 20.28% from the previous year[8] - Basic and diluted earnings per share increased by 34.97% to CNY 0.193[8] - The net profit attributable to shareholders increased by 34.83% to RMB 173,630,040.42, driven by improved operational performance and enhanced gross margins[18] - The company reported a net profit of RMB 536.16 million for the period, an increase from RMB 402.92 million at the beginning of the year, reflecting a growth of about 33.1%[32] - The total comprehensive income attributable to the parent company for the first nine months of 2017 was CNY 174,092,949.13, up from CNY 128,392,335.65 in the same period last year, marking an increase of about 35.6%[46] Cash Flow and Liquidity - The net cash flow from operating activities for the first nine months was CNY -1.04 billion, showing a significant decline compared to CNY -761.80 million in the same period last year[7] - The net cash flow from operating activities decreased to RMB -1,043,604,469.03, reflecting industry policy impacts and increases in accounts receivable and notes receivable[17] - The cash flow from operating activities for the first nine months of 2017 was CNY 16,805,488,967.75, compared to CNY 17,249,144,256.22 in the previous year, showing a decline of approximately 2.6%[49] - The net cash flow from operating activities for Q3 2017 was -1,043,604,469.03 RMB, compared to -761,796,278.31 RMB in Q3 2016, indicating a decline in operational cash flow[50] - The total cash inflow from financing activities for the first nine months of 2017 was 6,901,000,000.00 RMB, while cash outflow was 5,672,347,300.07 RMB, resulting in a net cash flow of 1,228,652,699.93 RMB[53] Assets and Liabilities - Total assets increased by 17.21% to CNY 16.36 billion compared to the end of the previous year[7] - The company's total assets as of September 30, 2017, were RMB 16.36 billion, up from RMB 13.96 billion, representing a growth of approximately 17.2%[32] - Total liabilities reached RMB 13.26 billion, compared to RMB 10.89 billion at the beginning of the year, marking an increase of around 22.0%[32] - Current liabilities rose to CNY 7,443,128,897.19, a significant increase from CNY 5,690,406,284.46, indicating a growth of 30.8%[36] - The company's accounts receivable increased by 64.74% from the beginning of the year, reaching RMB 1,586,561,593.11, primarily due to sales growth and the development of a bill pool business[12] Shareholder Information - The total number of shareholders reached 70,475 by the end of the reporting period[9] - The largest shareholder, Nanjing Pharmaceutical Group, holds 26.94% of the shares[9] Operational Developments - The company has not disclosed any new product developments or market expansion strategies in this report[11] - The logistics center construction is 70% complete, with bidding for equipment already finalized[23] - The company continues to focus on market expansion and strategic acquisitions to enhance its operational capabilities[26] Financial Ratios and Margins - The weighted average return on equity rose by 0.972 percentage points to 6.432%[8] - The company reported a gross profit margin of approximately 8.4% for the first nine months, compared to 6.3% in the same period last year[40] Changes in Financial Policies - The company has revised its accounting policies in accordance with the updated government subsidy accounting standards[22] - Deferred income increased by 275.96% to RMB 154,199,635.34, resulting from changes in accounting policies regarding government subsidies[14] Investment and Financing Activities - The company issued a total of RMB 4 billion in short-term financing bonds with a coupon rate of 4.45% during the reporting period[20] - The company raised 6,501,000,000.00 RMB through borrowings in Q3 2017, compared to 4,080,000,000.00 RMB in Q3 2016[53]

Financial Performance - The company's operating revenue for the first half of 2017 was approximately CNY 13.49 billion, representing a 4.10% increase compared to CNY 12.96 billion in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2017 was approximately CNY 112.37 million, a 38.04% increase from CNY 81.40 million in the previous year[19]. - The net profit after deducting non-recurring gains and losses was approximately CNY 97.42 million, which is a 19.89% increase compared to CNY 81.26 million in the same period last year[19]. - Basic earnings per share for the first half of 2017 were CNY 0.125, up 37.36% from CNY 0.091 in the same period last year[20]. - The weighted average return on equity increased to 4.189% from 3.483% in the previous year, an increase of 0.706 percentage points[20]. - The company achieved a sales revenue of 13.492 billion RMB in the first half of 2017, representing a year-on-year growth of 4.10%[46]. - The net profit attributable to shareholders reached 112.37 million RMB, a significant increase of 38.04% compared to the previous year[46]. Assets and Liabilities - The company's total assets at the end of the reporting period were approximately CNY 14.74 billion, reflecting a 5.54% increase from CNY 13.96 billion at the end of the previous year[19]. - The net assets attributable to shareholders at the end of the reporting period were approximately CNY 2.70 billion, which is a 2.76% increase from CNY 2.63 billion at the end of the previous year[19]. - The company's total liabilities increased significantly, with other payables rising by 270.58% to ¥1.55 billion from ¥418.92 million, reflecting new borrowings from a group company[59]. - The company's total liabilities reached CNY 11.57 billion, up from CNY 10.89 billion, indicating an increase of about 6.3%[138]. Cash Flow - The company reported a net cash flow from operating activities of approximately -CNY 723.22 million, compared to -CNY 173.78 million in the same period last year, indicating a significant decline[19]. - The net cash flow from financing activities surged by 131.90% to ¥879.22 million, up from ¥379.14 million, attributed to new external borrowings[55]. - The company reported a net cash flow from financing activities of CNY 879,220,376.37, compared to CNY 379,140,758.44 in the previous year, indicating improved financing conditions[151]. - The net cash flow from investment activities was -619,916,083.48 RMB, a significant decrease compared to 119,051,283.27 RMB in the previous period[154]. Business Operations - The company ranked sixth in the domestic pharmaceutical distribution industry, with a stable upstream and downstream operating channel[24]. - The company operates 330 retail pharmacies, with over 90% qualifying for medical insurance, and has six century-old pharmacies with significant local and overseas influence[28]. - The company has opened 13 new retail stores in the first half of 2017, with a steady increase in total membership and membership sales ratio[50]. - The company has successfully launched the "Supply Chain Operation Service Platform" for Jiangsu Provincial Hospital, enhancing collaborative management of drug supplies[48]. - The company is focusing on integrated supply chain management and is expected to leverage technologies like IoT and blockchain for better efficiency[34]. Market Trends and Strategies - The implementation of the "Two Invoices System" policy is expected to significantly compress the pharmaceutical distribution links and accelerate industry reshuffling[33]. - The pharmaceutical e-commerce sector is anticipated to see growth through the integration of prescription drugs, electronic prescriptions, and online payment systems[35]. - The company aims to transform its business model from a drug-centric approach to a patient-centered service model[28]. - The company is actively exploring potential mergers and acquisitions to enhance its market presence and operational capabilities[91]. Regulatory and Compliance - The company is focusing on risk prevention and quality management, implementing a comprehensive quality safety prevention system to enhance management levels[52]. - The company is actively progressing with its non-public stock issuance project, which successfully passed the review by the China Securities Regulatory Commission in June 2017[53]. - The company has committed to using the raised funds strictly in accordance with relevant laws and regulations, with regular checks on the usage of the funds[94]. - The company has confirmed that the information disclosed regarding the fundraising is true, accurate, and complete, and will accept supervision from regulatory bodies and the public[94]. Shareholder Information - The largest shareholder, Nanjing Pharmaceutical Group, holds 241,811,214 shares, representing 26.94% of total shares[125]. - The company has committed to not reducing its shareholding in Nanjing Pharmaceutical for six months following the completion of the private placement, ensuring stability for investors[92]. - The company has a total of 74,354 common stock shareholders as of the end of the reporting period[123]. Employee and Management - The company has appointed new executives, including a new vice president, to strengthen its management team[131]. - The company approved the first phase of the employee stock ownership plan on April 22, 2016, which was subsequently approved by the 2015 annual general meeting[99]. - The second revised draft of the employee stock ownership plan was approved by the board on May 17-19, 2017, and the shareholders' meeting also approved the related proposals[100]. Financial Reporting and Accounting - The company operates under the Chinese Accounting Standards and ensures that its financial statements reflect a true and complete picture of its financial status as of June 30, 2017[169]. - The company recognizes goodwill in business combinations when the purchase price exceeds the fair value of identifiable net assets acquired[174]. - The company has made adjustments to its financial statements to ensure compliance with the latest disclosure requirements set by the China Securities Regulatory Commission[169].