江苏恩华药业股份有限公司 2015 年半年度报告全文 江苏恩华药业股份有限公司 2015 年半年度报告 2015 年 07 月 1 江苏恩华药业股份有限公司 2015 年半年度报告全文 第一节 重要提示、目录和释义 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。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 公司负责人孙彭生、主管会计工作负责人高爱好及会计机构负责人(会计主 管人员)胡吉瑞声明：保证本半年度报告中财务报告的真实、准确、完整。 本报告中涉及的未来发展陈述，属于计划性事项，不构成公司对投资者的 实质承诺，敬请投资者注意投资风险。 2 | 目录 | | --- | | 2015 | 年半年度报告 1 | | --- | --- | | 第一节 | 重要提示、目录和释义 2 | | 第二节 | 公司简介 5 | | 第三节 | 会计数据和财务指标摘要 7 | | 第四节 | 董事会报告 9 | | 第五节 | 重要事项 19 | | 第六节 | 股份变动及股东情况 26 | | 第七节 ...

江苏恩华药业股份有限公司 2015 年第一季度报告正文 证券代码：002262 证券简称：恩华药业 公告编号：2015-022 江苏恩华药业股份有限公司 2015 年第一季度报告正文 1 江苏恩华药业股份有限公司 2015 年第一季度报告正文 第一节 重要提示 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人孙彭生、主管会计工作负责人高爱好及会计机构负责人(会计主 管人员)胡吉瑞声明：保证季度报告中财务报表的真实、准确、完整。 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 2 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 674,832,087.12 | 610,607,534.55 | 10.52% | | 归属于上市公司股东的净利润（元） | 60,042 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides essential disclaimers, a detailed table of contents, and definitions of key terms used throughout the report [Important Notice](index=2&type=section&id=Important%20Notice) This section emphasizes the annual report's truthfulness, accuracy, and completeness, guaranteed by all company directors, supervisors, and senior management, and discloses the board-approved 2014 profit distribution plan - The company's 2014 profit distribution plan is to distribute a cash dividend of **0.60 yuan (including tax) per 10 shares** and **2 bonus shares (including tax) per 10 shares** to all shareholders, based on the total share capital as of December 31, 2014, with no capital reserve conversion to share capital[4](index=4&type=chunk) [Definitions](index=4&type=section&id=Definitions) This section defines key company entities, professional terms, and regulatory documents used in the report, providing a foundational understanding of the content - The company specializes in **central nervous system (CNS) drugs**, with a product line covering antidepressants, anxiolytics, antipsychotics, and antiepileptics[8](index=8&type=chunk)[9](index=9&type=chunk) [Significant Risk Warnings](index=6&type=section&id=Significant%20Risk%20Warnings) The company identifies and discloses six major operating risks, including policy-level drug price reduction and bidding risks, market competition changes, and internal R&D, environmental, and talent risks - The company faces major risks including: - **Policy risks**: Drug price reductions and centralized bidding may impact gross profit margins - **Market risks**: Adjustments to the essential drug list may intensify market competition - **R&D risks**: New drug R&D involves long cycles, high investment, and uncertainties - **Internal risks**: Increased environmental requirements and talent reserve risks arise from business expansion[12](index=12&type=chunk)[13](index=13&type=chunk) [Company Profile](index=7&type=section&id=Company%20Profile) This section provides fundamental information about the company, including its registration details, contact information, and public disclosure channels [Company Information](index=7&type=section&id=Company%20Information) This section provides the company's basic registration information, contact details, and information disclosure channels, noting its stock abbreviation "Enhua Pharmaceutical" and code 002262 on the Shenzhen Stock Exchange Company Basic Information | Item | Information | | :--- | :--- | | Stock Abbreviation | Enhua Pharmaceutical | | Stock Code | 002262 | | Listing Exchange | Shenzhen Stock Exchange | | Legal Representative | Sun Pengsheng | | Company Website | http://www.nhwa-group.com | [Summary of Accounting Data and Financial Indicators](index=9&type=section&id=Summary%20of%20Accounting%20Data%20and%20Financial%20Indicators) This section presents a concise overview of the company's key financial performance and position for the reporting period [Key Accounting Data and Financial Indicators](index=9&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) In 2014, the company achieved steady performance growth, with operating revenue increasing by **11.86%** and net profit attributable to shareholders growing by **26.68%**, alongside improvements in basic earnings per share and return on net assets 2014 Key Financial Indicators | Indicator | 2014 | 2013 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (yuan) | 2,501,358,749.92 | 2,236,077,014.58 | 11.86% | | Net Profit Attributable to Parent (yuan) | 223,271,123.74 | 176,253,603.32 | 26.68% | | Net Cash Flow from Operating Activities (yuan) | 160,236,857.87 | 194,332,052.74 | -17.54% | | Basic Earnings Per Share (yuan/share) | 0.5679 | 0.4483 | 26.68% | | Weighted Average Return on Net Assets | 23.77% | 23.26% | 0.51% | | Total Assets (yuan) | 1,922,656,263.98 | 1,566,341,148.18 | 22.75% | [Non-recurring Gains and Losses and Amounts](index=9&type=section&id=Non-recurring%20Gains%20and%20Losses%20and%20Amounts) In 2014, the company's non-recurring gains and losses totaled **1.2073 million yuan**, primarily from government subsidies, resulting in a **27.30%** year-on-year increase in net profit attributable to shareholders after deduction 2014 Non-recurring Gains and Losses Details | Item | 2014 Amount (yuan) | | :--- | :--- | | Disposal gains/losses on non-current assets | -298,340.52 | | Government subsidies recognized in current profit/loss | 3,018,120.00 | | Other non-operating income and expenses | -1,282,706.21 | | Income tax impact | -229,618.58 | | Minority interest impact | -108.57 | | **Total** | **1,207,346.12** | [Board of Directors' Report](index=11&type=section&id=Board%20of%20Directors%27%20Report) This report details the company's operational performance, financial status, and strategic initiatives for the year, as presented by the Board of Directors [Overview](index=11&type=section&id=Overview) In 2014, the company achieved steady development amidst pharmaceutical industry adjustments, with operating revenue growing by **11.86%** and net profit attributable to shareholders by **26.68%**, largely meeting its annual operating plan - The company excelled in technological innovation, brand, and management, earning recognition as a "Top 100 Pharmaceutical Industries" and "National Torch Program Key Technology Enterprise"[29](index=29&type=chunk) 2014 Performance Overview | Indicator | 2014 Amount (ten thousand yuan) | Year-on-Year Growth | | :--- | :--- | :--- | | Operating Revenue | 250,135.87 | 11.86% | | Net Profit Attributable to Parent | 22,327.11 | 26.68% | [Analysis of Main Business](index=11&type=section&id=Analysis%20of%20Main%20Business) This section analyzes the company's 2014 operations, covering revenue, costs, expenses, R&D, and cash flow, highlighting significant increases in R&D investment and investment activity cash outflow due to industrial park construction [Revenue Analysis](index=12&type=section&id=Revenue%20Analysis) The company's main business revenue increased by **11.72%** to **2.487 billion yuan**, driven by strong industrial product sales with volumes, production, and inventory all growing over **30%**, primarily due to core product sales and strategic stocking - Industrial product sales volume, production volume, and inventory all increased by over **30%** compared to the previous period, mainly due to increased sales of major products, rising costs, and sufficient stocking to ensure sales[33](index=33&type=chunk) Top Five Customer Sales | Item | Amount (yuan) | Percentage of Total Annual Sales | | :--- | :--- | :--- | | Total sales to top five customers | 278,870,308.63 | 11.15% | [Cost Analysis](index=13&type=section&id=Cost%20Analysis) During the reporting period, operating costs for the company's main product categories, including anesthetic, psychiatric, neurological, and raw material drugs, significantly increased by **64.87%**, **58.33%**, **48.79%**, and **89.50%** respectively, primarily due to higher sales volumes and rising unit costs - Sales costs of anesthetic, psychiatric, neurological, and raw material drug products increased significantly year-on-year, mainly due to increased sales of these products and rising unit costs[38](index=38&type=chunk) Top Five Supplier Purchases | Item | Amount (yuan) | Percentage of Total Annual Purchases | | :--- | :--- | :--- | | Total purchases from top five suppliers | 302,776,738.39 | 20.83% | [R&D Expenses](index=14&type=section&id=R%26D%20Expenses) The company's 2014 R&D investment reached **62.46 million yuan**, accounting for **2.50%** of operating revenue, leading to significant achievements including the approval of key drugs and the filing of 16 invention patents - In 2014, R&D expenditure was **62,464,369.94 yuan**, accounting for **2.50%** of operating revenue[42](index=42&type=chunk) - R&D achievements include: - **Approved products**: Remifentanil Hydrochloride for injection, Aripiprazole and tablets - **R&D projects**: Class 1 new drug for schizophrenia CY100611-1, Class 1 new intravenous anesthetic RMZL, etc - **Patent applications**: 16 invention patent applications, 6 patent authorizations obtained[42](index=42&type=chunk) [Cash Flow](index=14&type=section&id=Cash%20Flow) In 2014, net cash flow from operating activities decreased by **17.54%** to **160.23 million yuan**, while net cash outflow from investment activities significantly increased to **-247.23 million yuan** due to industrial park construction, and financing activities turned positive due to increased bank borrowings Major Cash Flow Statement Item Changes | Item | 2014 (yuan) | 2013 (yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Net cash flow from operating activities | 160,236,857.87 | 194,332,052.74 | -17.54% | | Net cash flow from investment activities | -247,232,807.75 | -117,433,293.36 | 50.70% | | Net cash flow from financing activities | 55,534,280.31 | -44,024,100.07 | -254.81% | [Main Business Composition](index=15&type=section&id=Main%20Business%20Composition) The company's business comprises industrial and commercial segments, with the industrial segment being the primary profit driver due to its high gross margin of **70.58%**, while anesthetic and psychiatric drugs are core products with high revenue contribution and gross margins Main Business Segment Gross Profit Margin | Segment | Operating Revenue (yuan) | Gross Profit Margin | Year-on-Year Change in Operating Revenue | | :--- | :--- | :--- | :--- | | **By Industry** | | | | | Industrial | 1,301,839,020.17 | 70.58% | 19.50% | | Commercial | 1,185,638,340.17 | 5.30% | 4.27% | | **By Product** | | | | | Anesthetic | 607,455,633.11 | 83.07% | 19.16% | | Psychiatric | 443,398,855.70 | 73.91% | 16.51% | | Neurological | 53,881,122.39 | 63.97% | 17.62% | | Raw Materials | 105,691,671.32 | 14.42% | 72.39% | [Analysis of Assets and Liabilities](index=15&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) As of 2014 year-end, total assets reached **1.923 billion yuan**, a **22.75%** increase, with construction in progress significantly rising from **6.32%** to **15.37%** of total assets, indicating capacity expansion, while short-term borrowings increased by approximately **100 million yuan** - Construction in progress as a percentage of total assets increased from **6.32%** at the beginning of the year to **15.37%** at year-end, mainly due to investment in Jiawang, Xincheng District, and Tongshan industrial parks[49](index=49&type=chunk) - Short-term borrowings increased from **279 million yuan** to **372 million yuan**, increasing the company's short-term repayment pressure[51](index=51&type=chunk) [Core Competitiveness Analysis](index=16&type=section&id=Core%20Competitiveness%20Analysis) The company's core competitiveness stems from its focus on CNS drug R&D and technology, professional marketing network, integrated production, niche market strategy, and comprehensive CNS drug product line - The company is the only pharmaceutical enterprise in China focused on **central nervous system (CNS) drug R&D and production**, possessing a national-level enterprise technology center[52](index=52&type=chunk) - Possesses the entire production process from raw material synthesis to finished drug preparations, ensuring high operating profit margins[55](index=55&type=chunk) - The company is the most comprehensive enterprise in China's central nervous system drug field[53](index=53&type=chunk)[56](index=56&type=chunk) [Investment Status Analysis](index=18&type=section&id=Investment%20Status%20Analysis) In 2014, the company invested **20.45 million yuan** in external equity, establishing two new subsidiaries to bolster R&D and sales, while also advancing major non-raised fund projects like the Jiawang Industrial Park and planning a non-public stock offering - During the reporting period, **20.45 million yuan** was invested to establish two new subsidiaries: - Jiangsu Enhua Luokang Pharmaceutical R&D Co., Ltd. (51% stake), aimed at enhancing new drug R&D capabilities - Hong Kong Enhua Pharmaceutical Co., Ltd. (100% stake), for product sales[58](index=58&type=chunk)[68](index=68&type=chunk) Progress of Major Non-Raised Fund Investment Projects | Project Name | Planned Total Investment (ten thousand yuan) | Investment in Current Period (ten thousand yuan) | Cumulative Actual Investment (ten thousand yuan) | Project Progress | | :--- | :--- | :--- | :--- | :--- | | Jiawang Industrial Park | 40,000 | 15,585 | 20,704 | 51.76% | | Xincheng District Logistics Park | 12,000 | 3,446 | 4,732 | 41.84% | [Outlook on Company's Future Development](index=21&type=section&id=Outlook%20on%20Company%27s%20Future%20Development) The company anticipates the Chinese CNS drug market to exceed **100 billion yuan** by 2020, planning to leverage an aging population and policy support through product innovation, market segmentation, and a 2015 target of **15%** revenue growth and **25%** profit growth - It is estimated that by **2020**, the market size for central nervous system diseases in China will reach or exceed **100 billion RMB**, and the industry will maintain high-speed growth[72](index=72&type=chunk) - Company's 2015 operating plan targets: business revenue, total profit, and net profit to increase by approximately **15.00%**, **25.00%**, and **25.00%** respectively compared to 2014[77](index=77&type=chunk) - Future development plans include: implementing product innovation strategy, pursuing "niche market" and "differentiated" operations, strengthening brand building, promoting the construction of an internet pharmaceutical marketing platform, and timely pursuing external growth[76](index=76&type=chunk)[77](index=77&type=chunk) [Profit Distribution and Dividend Payout](index=24&type=section&id=Profit%20Distribution%20and%20Dividend%20Payout) The company consistently adheres to its profit distribution policy, successfully implementing the 2013 dividend plan and proposing a 2014 plan to distribute **0.60 yuan cash and 2.0 bonus shares per 10 shares**, demonstrating ongoing shareholder returns 2014 Profit Distribution Plan | Item | Content | | :--- | :--- | | Cash dividend per 10 shares (yuan) (incl. tax) | 0.60 | | Bonus shares per 10 shares (shares) (incl. tax) | 2.0 | | Share capital base (shares) | 393,120,000 | | Total cash dividend (yuan) (incl. tax) | 23,587,200.00 | Cash Dividends in the Last Three Years (yuan) | Dividend Year | Cash Dividend Amount (incl. tax) | Ratio to Net Profit Attributable to Parent | | :--- | :--- | :--- | | 2014 | 23,587,200.00 | 10.56% | | 2013 | 18,018,000.00 | 10.22% | | 2012 | 18,720,000.00 | 13.40% | [Significant Matters](index=30&type=section&id=Significant%20Matters) This section outlines key events and transactions during the reporting period, including guarantees provided to subsidiaries and plans for future investment and financing [Overview of Significant Matters](index=30&type=section&id=Overview%20of%20Significant%20Matters) During the reporting period, the company had no major litigation, asset transactions, or equity incentives, but provided **290 million yuan** in bank loan guarantees for subsidiaries and initiated an international raw material drug export base project, planning a non-public stock offering for funding - During the reporting period, the company had no significant litigation, asset acquisition/disposal, corporate merger, or equity incentive matters[108](index=108&type=chunk)[112](index=112&type=chunk)[114](index=114&type=chunk)[115](index=115&type=chunk) Guarantees to Subsidiaries (ten thousand yuan) | Item | Amount | | :--- | :--- | | Total approved guarantee limit for subsidiaries during reporting period | 29,000 | | Actual guarantee balance for subsidiaries at end of reporting period | 10,550 | - The company's board of directors approved the investment and construction of an international raw material drug export base project and plans to raise funds through a non-public stock offering[133](index=133&type=chunk)[135](index=135&type=chunk) [Share Changes and Shareholder Information](index=37&type=section&id=Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital and provides an overview of its shareholder structure and actual controllers [Share Change Status](index=37&type=section&id=Share%20Change%20Status) Due to the 2013 profit distribution plan, the company's total share capital increased by **65.52 million shares** to **393.12 million shares**, which diluted earnings per share and net assets per share - The company's total share capital increased by **65.52 million shares** to **393,120,000 shares** due to the implementation of the 2013 profit distribution plan (2 bonus shares per 10 shares)[139](index=139&type=chunk) [Shareholder and Actual Controller Information](index=38&type=section&id=Shareholder%20and%20Actual%20Controller%20Information) As of 2014 year-end, the company had **8,227 shareholders**, with Xuzhou Enhua Investment Co., Ltd. as the controlling shareholder (**41.23%**), and five individuals acting in concert collectively controlling **62.68%** of the shares Top Five Shareholders' Holdings | Shareholder Name | Number of Shares Held | Shareholding Percentage | | :--- | :--- | :--- | | Xuzhou Enhua Investment Co., Ltd. | 162,085,866 | 41.23% | | Sun Pengsheng | 19,272,571 | 4.90% | | Qi Chao | 18,011,540 | 4.58% | | Chen Zengliang | 15,997,031 | 4.07% | | Fu Qing | 15,997,030 | 4.07% | - The company's actual controllers are Sun Pengsheng, Qi Chao, Fu Qing, Chen Zengliang, and Yang Ziliang, who signed a "Cooperation Agreement" to act in concert, collectively controlling **62.68%** of the company's shares[145](index=145&type=chunk)[146](index=146&type=chunk) [Preferred Share Related Information](index=42&type=section&id=Preferred%20Share%20Related%20Information) This section provides details regarding the company's preferred shares, if any, during the reporting period [Preferred Share Overview](index=42&type=section&id=Preferred%20Share%20Overview) During the reporting period, the company had no preferred shares - The company had no preferred shares during the reporting period[151](index=151&type=chunk) [Directors, Supervisors, Senior Management, and Employees](index=43&type=section&id=Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Employees) This section provides information on the company's governance personnel and workforce, including their compensation and professional composition [Changes in Holdings and Remuneration of Directors, Supervisors, and Senior Management](index=43&type=section&id=Changes%20in%20Holdings%20and%20Remuneration%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) This section details the shareholding changes, appointments, and total remuneration of directors, supervisors, and senior management, noting an increase in core executives' holdings due to bonus share distribution and a total remuneration of **2.535 million yuan** in 2014 - During the reporting period, the shareholdings of the company's directors, supervisors, and senior management increased accordingly due to the implementation of the bonus share plan[153](index=153&type=chunk) 2014 Remuneration of Directors, Supervisors, and Senior Management (ten thousand yuan) | Name | Position | Total Remuneration | | :--- | :--- | :--- | | Sun Pengsheng | Chairman | 25 | | Qi Chao | Vice Chairman | 22 | | Sun Jiaquan | General Manager | 36 | | Gao Aihao | CFO | 30 | | Duan Baozhou | Board Secretary | 25 | | **Total** | **--** | **253.5** | [Company Employee Information](index=47&type=section&id=Company%20Employee%20Information) As of the reporting period end, the company employed **3,458 individuals**, with production and marketing personnel forming the largest groups, and over **60%** of employees holding college degrees or higher, reflecting a focus on talent quality Employee Professional Composition | Professional Composition | Number of Employees (persons) | Percentage | | :--- | :--- | :--- | | Production Personnel | 1,436 | 41.53% | | Marketing Personnel | 1,150 | 33.26% | | Technical Personnel | 229 | 6.62% | | Administrative Management Personnel | 557 | 16.11% | | **Total** | **3,458** | **100.00%** | [Corporate Governance](index=49&type=section&id=Corporate%20Governance) This section describes the company's governance framework and its adherence to regulatory standards and best practices [Basic Status of Corporate Governance](index=49&type=section&id=Basic%20Status%20of%20Corporate%20Governance) During the reporting period, the company operated in strict compliance with relevant laws and regulations, maintaining standardized governance across all aspects, including shareholder relations, board and supervisory board functions, and information disclosure, with all proposals at two shareholder meetings approved - The company's corporate governance structure is sound, with independence from the controlling shareholder in business, personnel, assets, organization, and finance, complying with relevant laws and regulations[172](index=172&type=chunk)[173](index=173&type=chunk) - During the reporting period, one annual general meeting and one extraordinary general meeting were held, approving important proposals such as the annual report, profit distribution, and non-public stock offering[178](index=178&type=chunk)[179](index=179&type=chunk) - The four special committees under the company's board of directors—Strategy, Remuneration and Assessment, Nomination, and Audit—all held multiple meetings during the reporting period, actively fulfilling their duties[184](index=184&type=chunk)[185](index=185&type=chunk)[186](index=186&type=chunk) [Internal Control](index=55&type=section&id=Internal%20Control) This section details the company's internal control framework, its construction, and the evaluation of its effectiveness [Internal Control Construction and Evaluation](index=55&type=section&id=Internal%20Control%20Construction%20and%20Evaluation) The company has established a comprehensive internal control system covering all operational aspects, with the board affirming its effectiveness and no significant deficiencies found in financial reporting internal controls during the reporting period - The company has established and improved an internal control system covering all levels and aspects, and believes it possesses completeness, compliance, and effectiveness[195](index=195&type=chunk) - According to the company's "2014 Internal Control Self-Evaluation Report," no significant deficiencies in internal control were found during the reporting period[198](index=198&type=chunk) [Financial Report](index=57&type=section&id=Financial%20Report) This section presents the company's audited financial statements and related notes for the reporting period [Audit Report](index=57&type=section&id=Audit%20Report) Lixin Certified Public Accountants (Special General Partnership) issued a standard unqualified audit opinion on the company's 2014 financial statements, confirming their fair presentation in accordance with enterprise accounting standards Audit Report Information | Item | Content | | :--- | :--- | | Type of Audit Opinion | Standard Unqualified Audit Opinion | | Audit Report Signing Date | February 15, 2015 | | Audit Firm Name | Lixin Certified Public Accountants (Special General Partnership) | [Financial Statements](index=58&type=section&id=Financial%20Statements) This section includes the company's 2014 consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, showing expanded assets and enhanced profitability despite significant investment-related cash outflow Consolidated Balance Sheet Summary (2014-12-31) | Item | Amount (yuan) | | :--- | :--- | | Total Assets | 1,922,656,263.98 | | Total Liabilities | 863,612,184.67 | | Equity Attributable to Parent Company Owners | 1,043,287,238.27 | Consolidated Income Statement Summary (2014 Annual) | Item | Amount (yuan) | | :--- | :--- | | Total Operating Revenue | 2,501,358,749.92 | | Total Profit | 260,911,075.52 | | Net Profit Attributable to Parent Company Owners | 223,271,123.74 | Consolidated Cash Flow Statement Summary (2014 Annual) | Item | Amount (yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | 160,236,857.87 | | Net Cash Flow from Investment Activities | -247,232,807.75 | | Net Cash Flow from Financing Activities | 55,534,280.31 | | Net Increase in Cash and Cash Equivalents | -31,513,938.71 | [Notes to Consolidated Financial Statement Items](index=94&type=section&id=Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed annotations for key consolidated financial statement items, highlighting a **20%** increase in accounts receivable, a nearly **200%** surge in construction in progress due to industrial park investments, and significant travel and conference expenses within selling costs - Accounts receivable at period-end was **555 million yuan**, an increase of **20.3%** from **462 million yuan** at the beginning of the period[332](index=332&type=chunk) - Construction in progress at period-end was **296 million yuan**, a significant increase of **198.6%** from **99 million yuan** at the beginning of the period, mainly due to investment in projects like Jiawang Industrial Park[366](index=366&type=chunk) - Within selling expenses, travel expenses (**189 million yuan**) and conference expenses (**149 million yuan**) were major components, together accounting for **60.6%** of selling expenses[433](index=433&type=chunk) [Reference Documents Catalog](index=142&type=section&id=Reference%20Documents%20Catalog) This section lists all supplementary documents available for review, ensuring transparency and providing access to original records [Reference Documents List](index=142&type=section&id=Reference%20Documents%20List) This section lists the available reference documents, including signed accounting statements, original audit reports, all publicly disclosed documents, and the chairman-signed annual report text - Reference documents include: - Signed and sealed accounting statements - Original audit report - Original copies of all disclosed documents and announcements during the reporting period - Original annual report text signed by the chairman[534](index=534&type=chunk)

江苏恩华药业股份有限公司 2014 年第三季度报告正文 证券代码：002262 证券简称：恩华药业 公告编号：2014-029 江苏恩华药业股份有限公司 2014 年第三季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 江苏恩华药业股份有限公司 2014 年第三季度报告正文 1 江苏恩华药业股份有限公司 2014 年第三季度报告正文 第一节 重要提示 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人孙彭生、主管会计工作负责人高爱好及会计机构负责人(会计主管人员)胡吉瑞声明：保证 季度报告中财务报表的真实、准确、完整。 2 单位：元 | 项目 | 年初至报告期期末金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益（包括已计提资产减值准备的冲销部分） | -62,733.17 | | | 计入当期损益的政府补助（与企业业务密切相关， ...

江苏恩华药业股份有限公司 2014 年半年度报告全文 江苏恩华药业股份有限公司 2014 年半年度报告 2014 年 08 月 1 江苏恩华药业股份有限公司 2014 年半年度报告全文 第一节 重要提示、目录和释义 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。 所有董事均已出席了审议本报告的董事会会议。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 公司负责人孙彭生、主管会计工作负责人高爱好及会计机构负责人(会计主 管人员)胡吉瑞声明：保证本半年度报告中财务报告的真实、准确、完整。 本报告中涉及的未来发展陈述，属于计划性事项，不构成公司对投资者的 实质承诺，敬请投资者注意投资风险。 2 | 目录 | | --- | | 第一节 重要提示、目录和释义 2 | | --- | | 第二节 公司简介 5 | | 第三节 会计数据和财务指标摘要 7 | | 第四节 董事会报告 9 | | 第五节 重要事项 19 | | 第六节 股份变动及股东情况 25 | | 第七节 优先股相关情况 29 | | 第 ...

江苏恩华药业股份有限公司 2014 年第一季度报告正文 证券代码：002262 证券简称：恩华药业 公告编号：2014-011 江苏恩华药业股份有限公司 2014 年第一季度报告正文 1 第一节 重要提示 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人孙彭生、主管会计工作负责人高爱好及会计机构负责人(会计主 管人员)胡吉瑞声明：保证季度报告中财务报表的真实、准确、完整。 2 江苏恩华药业股份有限公司 2014 年第一季度报告正文 第二节 主要财务数据及股东变化 江苏恩华药业股份有限公司 2014 年第一季度报告正文 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | | | | （%） | | 营业收入（元） | 610,607,534.55 | 536,641,535 ...

Financial Performance - The company's operating revenue for 2013 was CNY 2,236,077,014.58, representing a 12.79% increase compared to CNY 1,982,496,393.59 in 2012[27]. - The net profit attributable to shareholders for 2013 was CNY 176,253,603.32, a 26.17% increase from CNY 139,697,895.53 in 2012[27]. - The company's R&D investment increased by 31.91% to CNY 46,244,349.36 in 2013, up from CNY 35,058,542.26 in 2012[37]. - The net cash flow from operating activities was CNY 194,332,052.74, reflecting a 26.06% increase from CNY 154,164,158.81 in 2012[37]. - Total assets at the end of 2013 were CNY 1,566,341,148.18, a 16.47% increase from CNY 1,344,848,936.28 at the end of 2012[27]. - The company's weighted average return on equity was 23.26% in 2013, slightly up from 22.7% in 2012[27]. - The company reported a significant increase in sales expenses by 19.10% to CNY 542,718,994.86 in 2013, compared to CNY 455,671,293.69 in 2012[37]. - Actual revenue for the year was RMB 2.24 billion, a 12.79% increase from the previous year, while net profit rose by 26.17% to RMB 176.25 million[40]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 0.55 CNY per 10 shares (including tax) and issue 2 bonus shares for every 10 shares held as of December 31, 2013[7]. - In 2013, the company distributed cash dividends of 0.80 CNY per 10 shares, totaling 77,220,000 CNY, with a payout ratio of 10.22% of net profit[91]. - The proposed profit distribution plan includes a cash dividend of CNY 0.55 per 10 shares and a bonus issue of 2 shares for every 10 shares held, totaling a distribution of CNY 83,538,000.00[94]. - The cumulative cash dividend from 2010 to 2012 amounted to CNY 42,120,000.00, representing 39.27% of the average annual net profit during that period[96]. Research and Development - The company invested CNY 46.24 million in R&D during the reporting period, achieving significant results including the registration of new antidepressant drugs[63]. - The company holds a leading position in the research and development of central nervous system drugs, with a comprehensive R&D platform and a strong team of 178 researchers[60]. - R&D investment increased by 31.91% compared to the previous year, totaling approximately RMB 46.24 million, which is 2.07% of the annual revenue[50]. - The company plans to continue focusing on new product development, with several new drugs in various stages of clinical research and registration[50]. Market and Competitive Landscape - The company faces risks related to drug price reductions, which may create uncertainty in growth due to national pricing adjustments and industry-wide price cuts[15]. - The company acknowledges the potential for changes in the competitive landscape due to adjustments in the national essential drug list, which may impact market dynamics[15]. - The company anticipates challenges in product bidding processes in 2014, with potential impacts on profit margins due to competitive pricing pressures[15]. - The central nervous system (CNS) drug market in China is projected to exceed RMB 100 billion by 2020, with a growth rate significantly higher than the international market[74]. Environmental and Compliance Risks - Environmental risks are present due to potential pollution from production processes, which could lead to compliance challenges with changing environmental regulations[15]. - The company has identified environmental risks associated with production processes and is taking measures to mitigate them[83]. - The company is committed to maintaining compliance with Good Manufacturing Practice (GMP) standards in its production processes[11]. - The company has committed to environmental protection and sustainable development, implementing measures to reduce raw material usage and ensure compliance with wastewater discharge standards[101]. Corporate Governance and Management - The company emphasizes the importance of accurate financial reporting and has declared that its financial statements are true, accurate, and complete[6]. - The company has established a robust corporate governance structure to protect the rights of shareholders and creditors, ensuring fair and transparent communication[95]. - The company has a strong focus on employee development, providing career planning and training programs to enhance staff skills and promote mutual growth[97]. - The company has established a transparent performance evaluation and incentive mechanism for directors, supervisors, and managers[155]. Shareholder Information - The total number of shares increased from 234,000,000 to 327,600,000 due to a profit distribution plan, which included a cash dividend of 0.80 yuan per 10 shares and a stock dividend of 2.5 shares per 10 shares[122]. - The controlling shareholder, Xuzhou Enhua Investment Co., Ltd., holds 68.91% of the shares, directly and indirectly controlling 62.92% of the company[125]. - The number of shareholders at the end of the reporting period was 6,809, compared to 7,555 five trading days before the report[124]. - The company has not reported any violations of commitments made to minority shareholders during the reporting period[115]. Financial Position and Assets - The company's total liabilities increased to CNY 730,133,203.67 from CNY 662,406,711.59, representing a rise of about 10.2%[198]. - The total equity attributable to shareholders rose to CNY 838,034,114.53, up from CNY 680,500,511.21, indicating an increase of approximately 23.2%[198]. - Cash and cash equivalents at the end of the year were CNY 427,799,011.14, compared to CNY 366,103,868.63 at the beginning of the year, marking an increase of about 16.8%[194]. - The company maintained effective internal controls related to financial reporting as of December 31, 2013, according to the internal control audit report[184].