Financial Performance - The company's net profit attributable to shareholders for 2019 was CNY 53,089,382.56, representing a 12.51% increase compared to CNY 47,186,332.49 in 2018[4]. - The operating income for 2019 was CNY 1,243,169,488.29, reflecting a growth of 5.65% from CNY 1,176,665,762.11 in the previous year[19]. - The net cash flow from operating activities increased by 144.43% to CNY 104,601,581.36, up from CNY 42,793,435.99 in 2018[21]. - The basic earnings per share for 2019 was CNY 0.24, a 14.29% increase from CNY 0.21 in 2018[20]. - The company achieved a 100.79% increase in net profit attributable to shareholders after deducting non-recurring gains and losses, driven by operational improvements and expanded sales channels[21]. - The diluted earnings per share also stood at CNY 0.24, consistent with the basic earnings per share[20]. - The company reported a total non-operating income of RMB 15,620,341.80 in 2019, a decrease of 45.1% compared to RMB 28,525,164.36 in 2018[25]. - The company achieved a total revenue of 1,243.17 million RMB, representing a year-on-year growth of 5.65%[47]. - The main business revenue reached 1,183.82 million RMB, with a growth of 5.55% compared to the previous year[47]. - The net profit after deducting non-recurring gains and losses surged by 100.79% to 37.47 million RMB[47]. - The retail business generated revenue of 728.83 million RMB, up 7.22% year-on-year, while the wholesale business revenue was 454.99 million RMB, growing by 2.99%[49][48]. Assets and Investments - The total assets of the company at the end of 2019 were CNY 1,216,551,640.88, a 12.70% increase from CNY 1,079,466,351.75 in 2018[19]. - The company's net assets attributable to shareholders increased by 9.47% to CNY 725,329,730.23 from CNY 662,560,731.44 in 2018[19]. - The company’s other equity investments increased from RMB 198,867,750.37 at the beginning of the period to RMB 226,108,279.89 at the end, reflecting a change of RMB 27,240,529.52[27]. - The company’s other equity investment increased from CNY 198,867,750.37 to CNY 226,108,279.89, with a change of CNY 27,240,529.52 during the reporting period[78]. Business Operations - The company’s retail and wholesale business remains unchanged, focusing on pharmaceuticals, food, medical devices, and health products[30]. - The company has enhanced its pharmaceutical service capabilities, providing medication guidance and health consulting, which aligns with the "Healthy China Strategy" and supports business growth[33]. - The company has expanded its online business significantly, collaborating with major platforms like JD.com and Tmall, leading to an increase in retail sales proportion[42]. - The company is adapting to the "Internet + Healthcare" trend, integrating online and offline resources to improve consumer experience and expand market reach[34]. - The company has developed innovative store formats to cater to diverse consumer needs, enhancing its competitive edge in the market[40]. - The company opened 5 new stores, bringing the total number of stores to 98[50]. - Online business revenue reached 26.87 million RMB during the reporting period[50]. - The company established a logistics distribution center covering 20,610.16 square meters, enhancing logistics efficiency[65]. Challenges and Strategies - The company faces challenges from rising labor costs, rental expenses, and regulatory impacts from policies like "Two Invoice System" and volume-based procurement[90]. - The company aims to transform its wholesale business from a traditional distributor to a service provider, focusing on professional products and services[94]. - The company plans to enhance its logistics system to adapt to new retail and health consumption trends, integrating professional services with operations[95]. - The company is positioned to capitalize on the trend of prescription outflow from medical institutions, which is expected to significantly benefit the retail pharmaceutical sector[91]. - The company will explore new business models, including "Internet + Healthcare," to meet diverse consumer demands in the health sector[99]. Profit Distribution and Shareholder Relations - The company proposed a cash dividend of CNY 0.75 per 10 shares, totaling CNY 16,731,476.03, which accounts for 31.52% of the net profit attributable to shareholders[4]. - The company has revised its profit distribution policy to ensure reasonable returns to investors, with a cash dividend not less than 30% of the net profit attributable to shareholders if certain conditions are met[105]. - The company has a policy of prioritizing cash dividends, with the option to issue stock dividends if the board believes it benefits shareholders and the company's stock price is misaligned with its capital structure[106]. - The board must consider various factors, including profit situation and shareholder returns, when formulating profit distribution plans, and independent directors must provide clear opinions[107]. - The company’s monitoring committee oversees the execution of cash dividend policies and ensures compliance with decision-making procedures[111]. - The company has not proposed a cash profit distribution plan for the reporting period despite having positive distributable profits, which requires detailed disclosure of reasons and intended use of retained earnings[113]. Governance and Compliance - The company has commitments from its controlling shareholder, Bailian Group, to avoid engaging in any business that competes with the company during the period of control[114]. - Bailian Group has pledged to ensure that the company maintains operational independence, including procurement, production, and sales, following the transfer of shares[114]. - The company has established a commitment to maintain independent financial accounting and management systems post-share transfer[114]. - The company will ensure that its senior management does not receive compensation from Bailian Group or its controlled entities[114]. - The company has a robust internal control system to ensure compliance and protect investor interests[182]. - The company ensures timely and accurate information disclosure to all shareholders, maintaining transparency[184]. - The independent auditor issued a standard unqualified opinion on the internal control audit report for the fiscal year 2019[189]. - The company has not disclosed any significant risks identified by the supervisory board during the reporting period[188]. Employee and Management Structure - The company has a total of 841 employees, with 269 in the parent company and 572 in major subsidiaries[170]. - The company has implemented a flexible compensation policy, including annual salary, position salary, and performance-based pay[171]. - The total remuneration for directors and senior management during the reporting period amounted to CNY 5.976 million[166]. - The company has a structured remuneration management system for senior management based on performance assessments and responsibilities[166]. - The company has established a performance evaluation system linking management compensation to business performance[180]. Accounting and Financial Reporting - The company implemented changes to accounting policies, including the separation of "receivables" into "notes receivable" and "accounts receivable," with the previous year's ending balance for "accounts receivable" at ¥73,887,974.36[116]. - The new financial instrument standards resulted in a decrease in available-for-sale financial assets by ¥193,523,950.37 for the consolidated statements and ¥192,915,087.97 for the parent company[117]. - The company reported a year-end balance of ¥111,946,351.53 for "accounts receivable" under the new standards, slightly adjusted from the previous reporting[119]. - The total cash and cash equivalents reported were ¥387,981,524.20, remaining unchanged under the new financial instrument standards[119]. - The company’s financial assets and liabilities were reclassified according to the new measurement categories, impacting the overall financial position[119].

Financial Performance - Net profit attributable to shareholders rose by 30.73% to CNY 38,183,322.58 year-to-date[5] - Operating revenue for the first nine months increased by 7.06% to CNY 919,349,614.25 compared to the same period last year[5] - Basic earnings per share increased by 30.79% to CNY 0.1712[5] - Total profit increased by 34.67% to ¥50,333,179 from ¥37,375,309[9] - Net profit attributable to shareholders grew by 30.73% to ¥38,183,322 from ¥29,206,820[9] - The company reported a total profit of ¥12,106,475.41 for Q3 2019, an increase of 0.8% from ¥11,019,906.97 in Q3 2018[17] - The net profit for the first three quarters of 2019 was ¥38,183,322.58, a significant increase of 30.8% from ¥29,206,820.88 in the same period of 2018[17] Assets and Liabilities - Total assets increased by 10.65% to CNY 1,194,387,398.18 compared to the end of the previous year[5] - Total liabilities increased to CNY 482.18 million from CNY 409.90 million, representing a growth of approximately 17.5% year-over-year[13] - Current liabilities rose to CNY 422.36 million, up from CNY 355.80 million, indicating an increase of about 18.6%[13] - Total current assets and liabilities indicate a current ratio of approximately 3.86, suggesting strong liquidity[27] - The company reported a total liability of CNY 409,898,304.42, unchanged from the previous year[23] Cash Flow - Net cash flow from operating activities decreased by 16.51% to CNY 67,943,630.16 year-to-date[5] - Cash flow from operating activities for the first three quarters of 2019 was CNY 67.94 million, down 16.4% from CNY 81.38 million in the same period of 2018[19] - Total cash inflow from operating activities was CNY 407,517,780.11, down 24.1% from CNY 537,250,790.54 year-on-year[20] - Cash outflow from operating activities totaled CNY 360,550,598.09, a reduction of 20.3% compared to CNY 452,377,431.65 in 2018[20] - The company reported a net cash increase of CNY 55.86 million in cash and cash equivalents for the first three quarters of 2019[19] Shareholder Information - The total number of shareholders reached 22,794 by the end of the reporting period[8] - The largest shareholder, Bailian Group Co., Ltd., holds 44.95% of the shares[8] Other Financial Metrics - The weighted average return on equity increased by 1.3 percentage points to 5.59%[5] - Non-operating income for the first nine months totaled CNY 9,386,709.56[6] - Employee compensation payable increased by 128.73% to ¥19,675,910 from ¥8,602,123[9] - Total comprehensive income for Q3 2019 was -¥35,368,313.81, contrasting with a positive comprehensive income of ¥10,459,734.85 in Q3 2018[17] - The company paid CNY 14,498,838.53 in dividends and interest, an increase of 8.3% from CNY 13,384,151.88 in 2018[20] Investment Activities - Cash flow from investing activities improved by 205.90%, reaching ¥2,412,587 compared to a negative ¥2,278,179[9] - The cash flow from investment activities generated a net inflow of CNY 2.41 million in the first three quarters of 2019, compared to a net outflow of CNY 2.28 million in the same period of 2018[19] - The company’s cash flow from investment activities was significantly impacted by a decrease in investment income received, which fell to CNY 6,084,219.86 from CNY 24,387,413.96 in the previous year[20] Operational Metrics - Total operating revenue for Q3 2019 reached ¥302,059,297.88, an increase of 12.8% compared to ¥267,751,247.45 in Q3 2018[17] - Total operating costs for Q3 2019 were ¥293,506,603.87, up 12.8% from ¥260,224,487.82 in Q3 2018[17] - Operating revenue for Q3 2019 was CNY 135.74 million, an increase of 15.1% compared to CNY 117.91 million in Q3 2018[18] - The total operating profit for Q3 2019 was CNY 4.43 million, a decrease of 72.1% from CNY 15.91 million in Q3 2018[18]

股票代码：600833 股票简称：第一医药 编码：临 2019-035 上海第一医药股份有限公司 关于参加上海辖区上市公司投资者集体接待日活动的公告 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个别及连带责任。 为进一步加强与投资者的互动交流工作，上海第一医药股份有限公司（以下简称"公 司"）将参加由上海上市公司协会、上证所信息网络有限公司共同举办的"2019 年上海 辖区上市公司投资者集体接待日"活动，现将有关事项公告如下： 本次集体接待日活动将在上证所信息网络有限公司提供的平台，采取网络远程的方 式举行，投资者可以登录"上证路演中心"网站（http://roadshow.sseinfo.com）或 关注微信公众号：上证路演中心（sse_roadshow），参与公司本次投资者集体接待日活 动，活动时间为 2019 年 9 月 26 日（星期四）下午 15:00 至 17:00。届时公司管理层将 通过网络在线交流形式与投资者就公司治理、发展战略、经营状况、融资计划、股权激 励和可持续发展等投资者关注的问题进行沟通。 欢迎广大投资者积极 ...

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 617,290,316.37, representing a 4.45% increase compared to CNY 590,981,173.49 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2019 was CNY 30,187,623.14, a significant increase of 42.40% from CNY 21,198,614.66 in the previous year[18]. - The basic earnings per share for the first half of 2019 was CNY 0.1353, up 42.42% from CNY 0.0950 in the same period last year[19]. - The weighted average return on equity increased by 1.15 percentage points to 4.26% compared to 3.11% in the previous year[19]. - The main business income reached 584,684,200 CNY, up 3.98% compared to 562,290,300 CNY in the previous year[33]. - The retail business generated revenue of 352,244,500 CNY, marking a 4.65% increase from 336,604,000 CNY[33]. - The wholesale business reported revenue of 232,439,600 CNY, which is a 2.99% increase from 225,686,200 CNY[33]. - The company achieved operating revenue of 617,290,316.37 CNY, a year-on-year increase of 4.45% from 590,981,173.49 CNY[33]. - The company reported a net profit of CNY 1,668,068.28 for Shanghai First Pharmaceutical Chain Store Co., Ltd., a decrease of 33.72% compared to the previous year, primarily due to reduced operating profits[50]. Cash Flow and Assets - The net cash flow from operating activities decreased by 57.76%, amounting to CNY 33,658,785.03 compared to CNY 79,685,952.58 in the same period last year[18]. - The total assets at the end of the reporting period were CNY 1,227,010,093.68, reflecting a 13.67% increase from CNY 1,079,466,351.75 at the end of the previous year[18]. - The company's net assets attributable to shareholders increased by 11.77%, reaching CNY 740,571,778.35 compared to CNY 662,560,731.44 at the end of the previous year[18]. - Accounts receivable decreased by 63.66% to 545,114.79, down from 1,500,000.00[40]. - Other receivables increased by 58.38% to 8,793,224.59, up from 5,552,037.98[40]. - Cash and cash equivalents rose to CNY 424,276,004.35 from CNY 387,981,524.20, reflecting an increase of about 9.3%[85]. - Total liabilities amounted to CNY 479,430,999.44, up from CNY 409,898,304.42, indicating a growth of around 16.9%[86]. - Current liabilities increased to CNY 404,957,758.64 from CNY 355,799,149.14, which is an increase of about 13.8%[86]. Business Strategy and Market Conditions - The company continues to focus on retail and wholesale pharmaceutical businesses, with no significant changes in its business model during the reporting period[23]. - The pharmaceutical distribution industry is experiencing intensified competition and pressure on profit margins due to regulatory changes and market restructuring[28]. - The company implemented a strategy to enhance online business and opened new stores to adapt to market changes[34]. - The company is exploring new business models such as "Internet + Healthcare" to adapt to changing market demands and enhance core competitiveness[53]. - The company plans to strengthen talent development and recruitment to address challenges in human resources and rising labor costs[54]. Regulatory and Compliance - The company faces industry policy risks, including the impact of new healthcare reforms and stricter regulations affecting pharmaceutical distribution[52]. - The company has confirmed its ability to continue as a going concern for at least 12 months from the reporting date[114]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial statements accurately reflect its financial condition and operational results[113]. - The company adopted new accounting standards for financial instruments, revenue recognition, and leases, which took effect in 2019[192]. Related Party Transactions and Governance - The actual controller and shareholders committed to avoiding any business activities that compete with the company during the reporting period[58]. - Bailian Group will not engage in any related party transactions that harm the interests of the company and its shareholders[58]. - The company will ensure its business, assets, finance, personnel, and institutions remain completely independent from the controlling shareholder, Bailian Group, after the share transfer is completed[59]. - The company has appointed Lixin Certified Public Accountants as the financial audit institution for the fiscal year 2019, and Deloitte Huayong as the internal control audit institution for the same period[60]. Financial Instruments and Accounting Policies - The company recognizes the fair value of assets and liabilities in business combinations, with any excess of purchase cost over identifiable net assets recognized as goodwill[120]. - Financial instruments are classified based on the company's management model and cash flow characteristics, including amortized cost and fair value measurements[132]. - The company measures expected credit losses for receivables based on the entire lifetime of the financial asset, with a provision rate of 5% for receivables within 1 year, 10% for 1-2 years, 20% for 2-3 years, and 100% for over 3 years[146]. - The company recognizes impairment losses for available-for-sale financial assets when there is a significant decline in fair value, transferring the cumulative loss from equity to profit or loss[145]. Shareholder Information - As of June 30, 2019, the total number of common shareholders was 23,463[75]. - The largest shareholder, Bailian Group Co., Ltd., held 100,274,734 shares, representing 44.95% of the total shares[76]. - The company’s total share capital and structure remained unchanged during the reporting period[73]. - The company has no strategic investors or general legal entities becoming top 10 shareholders through new share placements[77].

Financial Performance - Net profit attributable to shareholders increased by 22.62% to CNY 14,117,679.49 compared to the same period last year[7] - Operating revenue decreased by 1.72% to CNY 307,984,638.80 compared to the same period last year[7] - Basic and diluted earnings per share increased by 22.67% to CNY 0.0633[7] - The company's operating profit for Q1 2019 was CNY 18,598,160.07, up from CNY 15,134,318.55 in Q1 2018, indicating a growth of 22.4%[19] - The net profit for Q1 2019 reached CNY 14,117,679.49, representing an increase of 22.67% from CNY 11,513,280.85 in Q1 2018[19] - The company's operating cash flow net amount was CNY 45,253,757.10, an increase of 13.4% compared to CNY 39,912,647.03 in Q1 2018[23] Assets and Liabilities - Total assets increased by 15.46% to CNY 1,246,313,218.27 compared to the end of the previous year[7] - Total liabilities increased to CNY 341,644,289.12 in Q1 2019, compared to CNY 285,646,863.65 in Q4 2018, marking a rise of 19.6%[18] - Current assets totaled CNY 589,347,250.70, an increase of 7.8% from CNY 546,579,036.94 at the end of 2018[18] - Non-current assets totaled CNY 479,005,530.19, an increase of 26.5% from CNY 378,653,985.48 at the end of 2018[18] - Total current assets amounted to RMB 546,579,036.94, with cash and cash equivalents at RMB 354,553,901.15[28] - Total liabilities reached RMB 285,646,863.65, with current liabilities accounting for RMB 240,103,014.76[31] Cash Flow - Net cash flow from operating activities decreased by 16.13% to CNY 46,615,747.09 compared to the same period last year[7] - Total cash inflow from operating activities was CNY 155,664,629.47, down 42.1% from CNY 268,592,085.08 in the same period last year[23] - Cash outflow from operating activities totaled CNY 110,410,872.37, a decrease of 51.6% compared to CNY 228,679,438.05 in Q1 2018[23] - Cash and cash equivalents at the end of Q1 2019 totaled ¥433,001,161.83, an increase from ¥374,686,108.15 at the end of Q1 2018[22] Shareholder Information - The total number of shareholders reached 24,730 at the end of the reporting period[8] - The largest shareholder, Bailian Group, holds 44.60% of the total shares, amounting to 99,488,634 shares[8] - Bailian Group has increased its holdings by 1,467,440 shares, representing 0.658% of the total share capital[10] Other Financial Metrics - The weighted average return on equity increased by 0.34 percentage points to 1.99%[7] - Other comprehensive income increased by 64.32% to 197,151,422.70 from 119,983,132.55[11] - Other income increased significantly by 9,354.44% to 8,958,857.92 from 94,758.18[11] - The company received government subsidies amounting to CNY 8,958,857.92, which are closely related to its normal business operations[6] Changes in Accounts - Accounts receivable decreased by 100% to 0 from 1,500,000.00[11] - Prepayments increased by 34.69% to 9,454,123.61 from 7,019,098.21[11] - Other receivables increased by 54.13% to 8,557,512.00 from 5,552,037.98[11] - Long-term equity investments increased by 57.17% to 824,745.26 from 524,745.26[11] - Construction in progress increased by 108.52% to 3,105,536.74 from 1,489,317.27[11] - Deferred income tax liabilities increased by 64.21% to 65,782,847.26 from 40,060,083.87[11] Financial Reporting Standards - The company executed new financial accounting standards starting January 1, 2019, which may impact future financial reporting[27] - The company executed new financial accounting standards effective January 1, 2019, impacting the reporting of financial instruments[32]

Financial Performance - In 2018, the company achieved a net profit of CNY 47,186,332.49, an increase of 8.53% compared to CNY 43,476,771.21 in 2017[19] - The company's operating revenue for 2018 was CNY 1,176,665,762.11, representing a decrease of 24.39% from CNY 1,556,146,205.50 in 2017[19] - The net cash flow from operating activities was CNY 42,793,435.99, down 64.36% from CNY 120,074,112.58 in the previous year[19] - The company reported a significant decline in net profit after deducting non-recurring gains and losses, which fell by 54.77% to CNY 18,661,168.13[19] - The company achieved operating revenue of CNY 1,176.67 million, a year-on-year decrease of 24.39%, with main business revenue at CNY 1,121.54 million, down 25.05%[39] - The net profit attributable to shareholders increased by 8.53% to CNY 47.19 million, while the net profit excluding non-recurring gains and losses decreased by 54.77% to CNY 18.66 million[39] Dividend Policy - The company proposed a cash dividend of CNY 0.65 per share, totaling CNY 14,500,612.56, which accounts for 30.73% of the net profit attributable to shareholders[4] - The company did not distribute any cash dividends in 2018, while the cash dividend amount for 2016 was 15,616,044.29 RMB, representing 33.92% of the net profit attributable to ordinary shareholders[95] - The company has a profit distribution policy that prioritizes cash dividends, aiming to distribute at least 30% of the net profit to shareholders when conditions are met[90] Assets and Liabilities - The total assets at the end of 2018 were CNY 1,079,466,351.75, a decrease of 4.97% from CNY 1,135,968,181.87 at the end of 2017[19] - The net assets attributable to shareholders decreased by 6.29% to CNY 662,560,731.44 from CNY 707,057,559.56 in 2017[19] - The company’s total liabilities for the current period were RMB 265,596,425.99, slightly up from RMB 261,753,921.04 in the previous period, reflecting an increase of about 1.3%[98] - Total current liabilities amounted to CNY 355,799,149.14, an increase from CNY 341,871,920.65 in the previous period, reflecting a growth of approximately 4.3%[161] Operational Strategies - The company is actively adjusting its operational strategies to enhance profitability, including optimizing product structure and expanding distribution channels[40] - The company implemented a "drug diagnosis store" model to enhance service diversification and developed an O2O business model to expand operational channels[37] - The company established a special store opening team to streamline the process of site selection, store decoration, and equipment procurement, achieving its target for new store openings[38] Market Position and Industry Trends - The healthcare demand is continuously growing, supported by rising disposable income and an aging population, leading to an expanding pharmaceutical and health consumption market[29] - The pharmaceutical distribution industry is expected to maintain steady growth due to increasing demand in the health market and ongoing healthcare reforms[76] - The company is positioned as a well-established player in the Shanghai pharmaceutical distribution sector, with a comprehensive range of services including traditional Chinese medicine and health self-testing[34] Cash Flow and Investment Activities - Investment cash flow saw a significant increase of 508.89% to CNY 34.77 million, attributed to higher cash inflows from investment activities[50] - The company received compensation of 38,496,978.00 RMB from housing expropriation and compensation agreements, with cash flow initially recorded under operating activities and later adjusted to investment activities[23] Management and Governance - The company has a diverse management team with extensive experience in various sectors, including finance and pharmaceuticals[125][126] - The management established a performance evaluation mechanism for senior executives, which was implemented during the reporting period[143] - The company revised its articles of association to strengthen the role of the party organization in corporate governance, aligning with national regulations[137] Internal Controls and Risk Management - The company established a strict internal control and risk management system to enhance operational management and risk prevention capabilities[136] - The company conducted self-evaluations of internal controls over key business processes, ensuring effective execution and protection of investor interests[139] Employee and Workforce Management - The total number of employees in the parent company and major subsidiaries is 892, with 259 in the parent company and 633 in subsidiaries[134] - The company has implemented a salary policy applicable to its employees[135] - The company has a training plan in place for its employees[135] Related Party Transactions and Shareholder Information - The company has not disclosed any major related party transactions that would impact its financial position or performance[104] - As of December 31, 2018, the controlling shareholder, Bailian Group, held 98,204,934 shares, accounting for 44.02% of the total share capital[109] Audit and Compliance - The independent audit report confirmed that the financial statements fairly present the company's financial position and results of operations for the year ended December 31, 2018[148] - The company engaged Deloitte to conduct an independent audit of its internal controls, resulting in a standard unqualified opinion[144] Future Outlook - The company anticipates significant growth opportunities in the retail pharmaceutical sector due to ongoing healthcare reforms and increasing public health awareness[79] - The company recognizes the risks associated with industry policies and market competition, emphasizing the need for adaptability and innovation to maintain competitiveness[85][86]

Financial Performance - Net profit attributable to shareholders decreased by 20.91% to CNY 29,206,820.88 for the first nine months of the year[5] - Operating revenue for the first nine months decreased by 27.04% to CNY 858,732,420.94 compared to the same period last year[5] - Total profit for the first nine months of 2018 was ¥37,375,309.90, a decrease of 21.5% compared to ¥47,636,728.37 in the same period of 2017[17] - Net profit for the first nine months of 2018 was CNY 27.92 million, down 19.0% from CNY 34.46 million in the same period last year[18] - The company reported a decrease in total profit for the first nine months of 2018 to CNY 32.00 million, down 22.9% from CNY 41.48 million in the same period last year[18] Assets and Liabilities - Total assets decreased by 3.28% to CNY 1,098,743,429.37 compared to the end of the previous year[5] - The company's total liabilities increased to RMB 437,193,905.93 from RMB 421,903,306.42, representing a rise of about 3.1%[14] - The total equity attributable to shareholders decreased from RMB 707,057,559.56 to RMB 654,542,207.55, indicating a decline of approximately 7.4%[14] - Accounts receivable decreased by 32.96% to CNY 98,971,234.87 compared to the beginning of the year[9] - Current liabilities totaled RMB 380,489,792.04, up from RMB 341,871,920.65, which is an increase of approximately 11.3%[14] Cash Flow - Cash flow from operating activities increased by 21.51% to CNY 81,380,761.18 for the first nine months[5] - Cash flow from operating activities for the first nine months of 2018 was CNY 81.38 million, an increase of 21.5% compared to CNY 66.97 million in the previous year[20] - The company’s cash flow from operating activities remains strong despite a slight decline in total cash inflow[21] - Total cash inflow from operating activities was CNY 537,250,790.54, a decrease of 3.0% from CNY 553,811,788.09 year-on-year[21] Income and Expenses - The company reported a significant increase in other income by 101.74% to CNY 3,657,141.53 for the first nine months[9] - Sales expenses increased to CNY 33.41 million for the first nine months of 2018, up 17.5% from CNY 28.55 million in the same period last year[18] - Total operating costs for the first nine months of 2018 were ¥830,576,383.51, a decrease of 26.9% from ¥1,136,070,660.52 in the same period of 2017[17] Shareholder Information - The total number of shareholders reached 25,033 by the end of the reporting period[8] Cash and Cash Equivalents - Cash and cash equivalents increased to RMB 389,523,115.41 from RMB 323,804,685.79, marking a growth of about 20.3%[13] - Cash and cash equivalents at the end of Q3 2018 were CNY 389.22 million, an increase of 37.8% from CNY 282.24 million at the end of Q3 2017[20] - Cash and cash equivalents at the end of the period totaled CNY 362,841,340.29, up 45.6% from CNY 249,223,894.65 at the end of the same period last year[21] Investment Activities - Investment activities resulted in a net cash outflow of CNY 2.28 million for the first nine months of 2018, compared to a net inflow of CNY 3.33 million in the previous year[20] - Investment activities generated a net cash flow of CNY 19,426,291.77, an increase of 55.0% compared to CNY 12,551,327.62 last year[21] - The company received CNY 24,387,413.96 in investment income, an increase of 86.0% compared to CNY 13,076,738.59 last year[21]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 590,981,173.49, a decrease of 27.84% compared to CNY 819,004,634.02 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2018 was CNY 21,198,614.66, down 13.58% from CNY 24,528,603.58 in the previous year[18]. - Operating profit was CNY 26.26 million, down 19.48% from CNY 32.62 million year-on-year[26]. - The company reduced operating costs by 31.32%, from CNY 693.05 million to CNY 475.98 million[29]. - The company reported a significant increase in other receivables, rising to ¥5,492,982.33 from ¥5,083,292.54, an increase of about 8.1%[72]. - The company reported a total equity of ¥651,089,788.60 at the end of the period, down from ¥714,064,875.45, reflecting a decrease of about 8.8%[85]. - The comprehensive income for the period showed a loss of ¥70,788,520.69, compared to a gain in the previous period, indicating a significant decline in profitability[85]. Cash Flow - The net cash flow from operating activities increased by 94.77% to CNY 79,685,952.58, compared to CNY 40,913,169.31 in the same period last year[18]. - Cash and cash equivalents rose to ¥402,060,677.11, up from ¥323,804,685.79, marking a significant increase of about 24.2%[72]. - The net cash flow from operating activities increased to ¥76,388,052.35, up from ¥52,509,234.25 in the previous period, representing a growth of approximately 45.4%[83]. - Cash inflow from operating activities totaled ¥355,094,309.16, a decrease of 8.4% compared to ¥387,656,973.31 in the prior period[83]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,091,399,185.87, a decrease of 3.92% from CNY 1,135,968,181.87 at the end of the previous year[18]. - Total liabilities increased to ¥440,309,397.27 from ¥421,903,306.42, an increase of approximately 4.4%[73]. - The total value of available-for-sale financial assets at the beginning of the period was 281,562,056.75, which decreased to 187,177,362.50, a change of -94,384,694.25[37]. - The total amount of frozen and restricted cash at the end of the period was ¥300,000.00, unchanged from the beginning of the period[171]. Shareholder Information - The largest shareholder, Bailian Group Co., Ltd., holds 98,021,194 shares, representing 43.94% of the total shares[63]. - The company reported a profit distribution of CNY 15,616,044.29 to shareholders, which reflects a significant reduction compared to previous periods[87]. - The top ten shareholders do not have any associated relationships or concerted actions among them[63]. Corporate Governance - 百联集团承诺在控股期间不从事与第一医药及其控制的其他公司同业竞争的业务[50]. - 百联集团将确保第一医药的资产完整，保证其经营许可、知识产权及各类资产的所有权或使用权独立享有[51]. - The company appointed Zhou Jie as the new General Manager during the reporting period[66]. - The report indicates no changes in the controlling shareholder or actual controller during the reporting period[64]. Market and Operational Strategy - The company is actively exploring the DTP market and enhancing the "cloud health" project to provide remote diagnosis and prescription services[26]. - The company is focusing on optimizing its product structure and enhancing procurement gross margins to improve retail operations[26]. - The company is adapting to market changes by innovating and improving operational mechanisms to stabilize and expand its market presence[24]. Risk Factors - The company faces industry policy risks, particularly from the Two Invoice System and GPO policies, which may pressure wholesale business development[42]. - Financial risks are present as the company seeks to capture opportunities in the health market while ensuring effective internal controls and risk management[45]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status[100]. - The company recognizes impairment losses for financial assets if there is objective evidence of impairment, with specific criteria for significant individual receivables set at amounts over 1 million[123]. - The company adopts a perpetual inventory system for inventory management[132]. Subsidiaries and Investments - The company holds a 100% stake in several subsidiaries, with total assets of 5,423.15 million and a net profit of 251.67 million reported for one of the subsidiaries[38]. - The company has confirmed its ability to continue as a going concern for at least 12 months from the reporting date[98]. - The company has 100% ownership in several subsidiaries, including Shanghai First Pharmaceutical Store Chain Co., Ltd. and Shanghai Longcheng Huamei Instrument Co., Ltd.[95].

Financial Performance - Net profit attributable to shareholders decreased by 17.92% to CNY 11,513,280.85 year-on-year[8] - Operating revenue decreased by 27.79% to CNY 313,367,164.47 compared to the same period last year[8] - Total operating revenue for Q1 2018 was CNY 313,367,164.47, a decrease of 27.8% compared to CNY 433,995,161.69 in the same period last year[22] - Net profit for Q1 2018 was CNY 11,513,280.85, representing a decline of 18.0% from CNY 14,026,908.93 in Q1 2017[22] - Basic and diluted earnings per share for Q1 2018 were both CNY 0.0516, down from CNY 0.0629 in the previous year[22] - Total comprehensive income for Q1 2018 was CNY -15,034,734.06, a significant decrease from CNY 45,553,130.07 in the same quarter last year[22] - Operating profit for Q1 2018 was CNY 15,134,318.55, down 18.5% from CNY 18,435,104.02 in Q1 2017[22] - The company reported a financial expense of CNY -2,689,663.90 for Q1 2018, compared to CNY -2,222,706.48 in the previous year[22] - Tax expenses for Q1 2018 were CNY 3,625,170.23, a decrease of 17.8% from CNY 4,410,489.37 in Q1 2017[22] Assets and Liabilities - Total assets decreased by 2.09% to CNY 1,112,268,750.36 compared to the end of the previous year[8] - The company's total liabilities decreased to CNY 413,238,608.97 from CNY 421,903,306.42, representing a reduction of about 2.0%[16] - The total equity attributable to shareholders decreased to CNY 692,022,825.50 from CNY 707,057,559.56, indicating a decline of approximately 2.1%[16] - Cash and cash equivalents increased to CNY 374,686,108.15 from CNY 323,804,685.79, marking an increase of about 15.7%[15] - Accounts receivable decreased to CNY 105,391,019.09 from CNY 147,619,339.67, a decline of approximately 28.6%[15] - Inventory slightly decreased to CNY 201,184,229.60 from CNY 205,858,956.68, reflecting a decrease of about 2.3%[15] - Current liabilities totaled CNY 342,151,319.68, a marginal increase from CNY 341,871,920.65, indicating a growth of approximately 0.1%[16] - Non-current liabilities decreased to CNY 71,087,289.29 from CNY 80,031,385.77, representing a decline of about 11.5%[16] Cash Flow - Net cash flow from operating activities increased by 148.71% to CNY 55,578,267.49 compared to the previous year[8] - The total cash inflow from operating activities for Q1 2018 was CNY 443,671,493.62, a decrease of 9.5% compared to CNY 490,501,133.42 in the same period last year[26] - The net cash flow from operating activities increased to CNY 55,578,267.49, up 148.5% from CNY 22,346,771.89 in Q1 2017[26] - Cash outflow for purchasing goods and services was CNY 320,175,953.02, down 21.8% from CNY 409,195,677.86 in the previous year[26] - The net cash flow from investment activities was -CNY 4,696,845.13, compared to -CNY 178,568.99 in Q1 2017[26] - The net increase in cash and cash equivalents for the period was CNY 50,881,422.36, compared to CNY 22,168,202.90 in the same period last year[26] - The ending balance of cash and cash equivalents was CNY 374,686,108.15, an increase from CNY 249,716,567.70 in Q1 2017[26] - The total cash inflow from operating activities for the parent company was CNY 268,592,085.08, an increase of 10.5% from CNY 243,136,171.20 in the previous year[27] - The net cash flow from operating activities for the parent company was CNY 39,912,647.03, up 172.5% from CNY 14,625,861.96 in Q1 2017[27] - The net cash flow from investment activities for the parent company was -CNY 4,550,987.26, compared to CNY 4,762,841.72 in the same period last year[27] - The ending balance of cash and cash equivalents for the parent company was CNY 307,287,501.28, an increase from CNY 212,566,092.49 in Q1 2017[27] Shareholder Information - The number of shareholders at the end of the reporting period was 26,449[10] - The largest shareholder, Bailian Group Co., Ltd., holds 43.94% of the shares[10] Construction and Investment - The company's construction in progress increased by 137.93% to CNY 14,734,531.46 due to warehouse renovation projects[11] - The company is actively investing in construction projects, with construction in progress rising to CNY 14,734,531.46 from CNY 6,192,714.36, an increase of about 138.5%[15] - Operating costs decreased by 31.11% to CNY 254,060,764.26 compared to the same period last year[11] - Other income increased by 43.63% to CNY 5,326.71 compared to the previous year[11]

Financial Performance - The company achieved a net profit of CNY 39,329,198.46 for the year 2017, with a proposed cash dividend of CNY 0.60 per share, totaling CNY 13,385,180.82, which represents 30.79% of the net profit attributable to shareholders[5]. - Total revenue for 2017 was CNY 1,556,146,205.50, reflecting a year-on-year increase of 2.44% compared to CNY 1,519,029,397.09 in 2016[19]. - The net profit attributable to shareholders decreased by 5.56% to CNY 43,476,771.21 in 2017 from CNY 46,034,162.49 in 2016[19]. - Basic earnings per share for 2017 were CNY 0.19, a decrease of 9.52% from CNY 0.21 in 2016[20]. - The weighted average return on equity for 2017 was 6.06%, slightly down from 6.12% in 2016[20]. - The company reported a decrease in investment income by 31.78%, from CNY 7,185,414.12 to CNY 4,902,120.18 due to reduced dividends received[44]. - The company reported a comprehensive income total of CNY -6,315,190.59, compared to CNY -33,709,642.40 in the previous year, showing an improvement[164]. - The comprehensive income for the year was a loss of CNY 79,743,804.89, with a profit distribution to owners of CNY -13,385,180.82[176]. Cash Flow and Assets - The company reported a significant increase in net cash flow from operating activities, which rose by 230.14% to CNY 120,074,112.58 in 2017, compared to CNY 36,371,167.84 in 2016[19]. - The company’s cash and cash equivalents increased by 42.11% to CNY 323,804,685.79, compared to CNY 227,848,364.80 at the end of the previous year[48]. - The company’s inventory decreased by 30.54% to CNY 205,858,956.68 from CNY 296,355,701.07 in the previous year[48]. - The total assets of the company at the end of 2017 were CNY 1,135,968,181.87, down 4.16% from CNY 1,185,287,123.94 at the end of 2016[19]. - The company’s total assets as of December 31, 2017, were RMB 1,135.97 million, a decrease of 4.16% from the beginning of the year[35]. - The total value of accounts receivable was RMB 155,526,257.19, with a bad debt provision of RMB 7,906,917.52[149]. - The inventory value as of December 31, 2017, was RMB 207,348,505.49, with an impairment provision of RMB 1,489,548.81[148]. Liabilities and Equity - The company’s liabilities totaled RMB 421.90 million, down by 2.38% compared to the beginning of the year[35]. - Total liabilities decreased to CNY 421,903,306.42 from CNY 449,291,013.61, showing a decline of about 6.09%[158]. - Total equity decreased to CNY 714,064,875.45 from CNY 735,996,110.33, a decrease of approximately 2.94%[158]. - The total equity attributable to the parent company at the end of the year was CNY 783,090,933.55, a decrease of CNY 47,094,823.22 compared to the previous year[176]. - The company’s total equity at the beginning of the year was CNY 738,387,899.22, which decreased by CNY 25,997,726.63 during the year[178]. Operational Developments - The company has initiated the "Health Station" project to explore resource application and enhance service professionalism[27]. - The company is actively preparing for the implementation of the "Two Invoice System" by enriching hospital supply varieties and strengthening key product sales[33]. - The company has improved its information systems and logistics capabilities to enhance operational quality and risk management[34]. - The company aims to enhance its regional advantages and market influence, promoting continuous upgrades in market position[66]. - The company plans to deepen the application of information technology by building a "cloud health platform" to integrate professional services and operations[72]. Risk Management and Compliance - The company has outlined potential market and operational risks in its report, advising investors to be cautious[7]. - The company faces risks from industry policies, including the implementation of zero-markup drug sales in public hospitals, which may impact retail drug enterprises[74]. - The company ensured compliance with corporate governance requirements as per the regulations of the China Securities Regulatory Commission[136]. - The company strictly adhered to insider information management regulations, ensuring no insider trading incidents occurred during the reporting period[136]. Shareholder and Governance Matters - The company has maintained a profit distribution policy emphasizing reasonable returns to investors, ensuring continuity and stability[81]. - The independent directors are required to provide clear opinions on the profit distribution plan, ensuring transparency and accountability[81]. - The company’s profit distribution plan must be approved by the shareholders' meeting, with a two-thirds majority required for any adjustments[82]. - The company has not conducted any share buybacks classified as cash dividends[84]. - The company has appointed Lixin Accounting Firm as the financial audit institution for 2017, with an audit fee of ¥540,000[89]. - The company has not faced any major litigation or arbitration matters during the reporting period[95]. Employee and Management Information - The company employed a total of 934 staff, with 276 in the parent company and 658 in major subsidiaries[131]. - The company has implemented a flexible compensation system based on performance and market conditions to attract and retain talent[132]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 2.8088 million[128]. - The company appointed a new general manager, Zhou Jie, on January 30, 2018, following the resignation of Wang Yawei[124]. - The management team has extensive experience in various sectors, including finance, operations, and strategic planning, which supports the company's growth initiatives[126].