海南双成药业股份有限公司 2018 年第一季度报告正文 1 海南双成药业股份有限公司 2018 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。 公司负责人王成栋、主管会计工作负责人王旭光及会计机构负责人(会计主 管人员)周云声明：保证季度报告中财务报表的真实、准确、完整。 海南双成药业股份有限公司 2018 年第一季度报告正文 证券代码：002693 证券简称：双成药业 公告编号：2018-040 √ 适用 □ 不适用 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） | 8,708,246.42 | | | 计入当期损益的政府补助（与企业业务密切相关，按照国家统 一标准定额或定量享受的政府补助除外） | 970,486.71 | | | 委托他人投资或管理资产的损益 | 222,224.92 | | | 除上述各 ...

Financial Performance - The company's operating revenue for 2017 was CNY 246,769,505.50, representing a 70.03% increase compared to CNY 145,135,787.60 in 2016[18]. - The net profit attributable to shareholders for 2017 was CNY 6,314,813.62, a significant turnaround from a loss of CNY 388,410,589.15 in 2016, marking a 101.63% improvement[18]. - The basic earnings per share for 2017 was CNY 0.020, compared to a loss of CNY -0.96 in 2016, reflecting a 102.08% increase[18]. - The company reported a net profit of CNY 6,314,813.62 for the year, indicating an improvement in operational performance[38]. - The gross profit from peptide products was CNY 165,652,739.52, accounting for 67.13% of total revenue, with a growth of 70.22% compared to the previous year[45]. - The company reported a significant increase in service sector revenue, with a 268.44% year-over-year growth[47]. - The total sales revenue from the commercial sector grew by 40.47%, attributed to the introduction of new products and enhanced marketing efforts[49]. Assets and Liabilities - Total assets at the end of 2017 amounted to CNY 1,377,113,877.06, an 18.15% increase from CNY 1,165,528,072.32 at the end of 2016[18]. - The company's net assets attributable to shareholders increased by 6.92% to CNY 591,397,373.34 at the end of 2017[18]. - The company's inventory at the end of the reporting period was CNY 119,865,100, an increase of 250.11% year-on-year, primarily due to increased stock of imported pharmaceuticals[33]. - The company's accounts receivable increased by 157.08% to 67 million, primarily due to the implementation of the two-invoice system policy and adjustments in the marketing model[32]. - The company's other receivables surged to ¥151,407,792.72, a 9.39% increase, mainly due to the transfer of 46% equity in Hangzhou Aoya[67]. - The company reported a rise in accounts payable to ¥79,874,665.37, a 5.80% increase, due to increased procurement payments[67]. Cash Flow - The net cash flow from operating activities was negative at CNY -22,537,292.50, a decline of 158.32% compared to CNY 38,646,854.39 in 2016[18]. - Operating cash inflow increased by 8.83% to ¥228,081,536.87, while operating cash outflow rose by 46.62% to ¥250,618,829.37, resulting in a net cash flow of -¥22,537,292.50[60]. - Investment cash inflow surged by 1,665.50% to ¥315,460,494.65, mainly due to the sale of a 46% stake in Hangzhou Aoya[60]. - Financing cash inflow increased by 116.61% to ¥600,000,000.00, attributed to loans from the controlling shareholder[62]. Research and Development - The company has successfully developed three chemical synthetic peptide drugs, including "Jitai" (Thymosin Alpha 1), which has a market share of about 14% in its category[31]. - The company has developed nearly 10 peptide products in recent years, focusing on high market potential and complex synthesis challenges[27]. - The company’s development expenditures increased by 36.52% to CNY 22,333,400, driven by ongoing R&D investments[33]. - R&D investment decreased by 55.35% to ¥20,566,623.03, accounting for 8.33% of operating revenue, down from 31.73%[60]. Market and Sales - The market for chemical synthetic peptide drugs is expected to grow due to rising healthcare demands and regulatory reforms in China[30]. - The company has a strong sales network supported by a combination of self-operated and agent-based models, enhancing market penetration[28]. - The company's revenue from the South China region grew by 76.35% to CNY 46,359,880.86, contributing significantly to overall revenue growth[45]. - The company's industrial sales revenue increased by 72.65% year-over-year, primarily due to the implementation of the two-invoice system and adjustments in marketing strategies[49]. Risks and Compliance - The company faces various risks including industry policy changes, rising raw material prices, and product quality risks, which are detailed in the report[5]. - The company is facing risks from rising raw material prices and plans to implement procurement strategies to minimize cost increases[87]. - The company is committed to complying with environmental regulations and enhancing its waste management processes to mitigate environmental risks[89]. - The company emphasizes strict quality control in drug production, adhering to regulations such as the Drug Administration Law and CGMP, to minimize quality-related risks[90]. Corporate Governance - The company has not distributed cash dividends or issued new shares from capital reserves in the last three years, with a proposal for 2017 also indicating no cash dividends[96]. - The company is committed to fulfilling its promises regarding related party transactions and ensuring compliance with legal and regulatory requirements[99]. - The company has established a commitment to avoid any related party transactions that could infringe on the rights of other shareholders[100]. - The company has a fully independent financial accounting system and does not share bank accounts with its controlling shareholder[197]. Management and Employees - The company has a total of 570 employees, with 476 in the parent company and 94 in major subsidiaries[186]. - The total remuneration for directors and senior management during the reporting period amounts to 425.89 million yuan[185]. - The company has implemented various training programs to enhance employee capabilities through internal and external training[189]. - The management team includes individuals with extensive experience in both domestic and international pharmaceutical markets[179]. Shareholder Information - The total number of shares is 405,000,000, with 403,416,821 being unrestricted shares, accounting for 99.61% of the total[156]. - The largest shareholder, Hainan Shuangcheng Investment Co., Ltd., holds 34.45% of the shares, totaling 139,516,546 shares[158]. - The company has not issued any new securities during the reporting period[157]. - The company has not undergone any mergers or acquisitions during the reporting period[164].

Financial Performance - Net profit attributable to shareholders rose by 103.90% to CNY 7,920,358.16 for the reporting period [7]. - Operating income for the period was CNY 84,116,539.95, representing a growth of 82.60% year-on-year [7]. - Basic earnings per share increased to CNY 0.02, a rise of 103.91% compared to the same period last year [7]. - The weighted average return on equity was 1.39%, up by 26.38% year-on-year [7]. - The company reported a net profit of CNY -9,620,656.85 for the year-to-date, a decrease of 95.69% compared to the same period last year [7]. - Revenue grew by 58.97% year-on-year, driven by changes in the sales model and the introduction of new products [16]. - The company expects a net profit of between 8 million and 12 million yuan for 2017, a turnaround from a loss of 388.41 million yuan in 2016 [23]. - The company reported a net loss of CNY 202,439,743.36, compared to a loss of CNY 192,819,086.51 in the previous period [33]. - The net profit for the current period was ¥10,455,254.12, compared to a net loss of ¥199,697,720.00 in the previous period, indicating a turnaround in profitability [49]. Assets and Liabilities - Total assets increased by 15.50% to CNY 1,346,176,504.99 compared to the end of the previous year [7]. - Total current assets increased to CNY 316,058,185.14 from CNY 151,413,821.89, representing a growth of 108.5% [30]. - Non-current assets totaled CNY 1,030,118,319.85, up from CNY 1,014,114,250.43, indicating a slight increase of 1.6% [31]. - Total liabilities decreased to CNY 598,513,714.20 from CNY 612,400,444.81, a reduction of 2.9% [32]. - Long-term borrowings increased to CNY 367,000,000.00 from CNY 297,000,000.00, showing a rise of 23.5% [32]. - Owner's equity totaled ¥600,106,442.43, up from ¥583,317,818.45, reflecting an increase of about 2.9% [39]. Cash Flow - The net cash flow from operating activities improved by 46.52% to CNY 24,582,057.50 [7]. - Cash received from operating activities increased by 69.00% year-on-year, mainly due to an increase in R&D-related receivables and product shipment guarantees [17]. - Operating cash inflow for the period was CNY 154,739,838.82, an increase of 22.6% compared to CNY 126,152,621.84 in the previous period [55]. - Net cash flow from operating activities was CNY 16,774,186.34, up from CNY 9,928,244.74, representing a 68.5% increase [55]. - Cash inflow from financing activities totaled CNY 534,760,000.00, a substantial increase from CNY 114,000,000.00 in the previous period [56]. - Net cash flow from financing activities was CNY 59,849,936.33, compared to CNY 9,391,884.17 in the previous period, marking a significant improvement [56]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 26,611 [11]. - The largest shareholder, Hainan Shuangcheng Investment Co., Ltd., held 34.45% of the shares [11]. - The company did not engage in any repurchase transactions during the reporting period [12]. Inventory and Receivables - Accounts receivable increased by 112.55% compared to the beginning of the year, mainly due to adjustments in the company's marketing model [15]. - Inventory increased by 326.59% compared to the beginning of the year, primarily due to increased stock of imported products by a subsidiary [15]. - Accounts receivable rose significantly to CNY 55,396,095.11 from CNY 26,063,021.11, marking an increase of 112.5% [30]. - Inventory surged to CNY 146,051,020.76 from CNY 34,236,580.42, reflecting a growth of 426.5% [30]. Expenses - Sales expenses increased by 115.40% year-on-year, attributed to the adjustments in the sales model [16]. - The company incurred sales expenses of ¥38,530,891.67, which is an increase of 82.0% from ¥21,169,054.67 in the previous period [39]. - The company reported a significant increase in sales expenses to ¥50,402,537.96 from ¥20,424,321.58 in the previous period, indicating higher marketing efforts [47].

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 76,431,949.55, representing a 39.16% increase compared to CNY 54,924,789.21 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was a loss of CNY 17,541,015.01, an improvement of 11.35% from a loss of CNY 19,787,022.19 in the previous year[16]. - The net cash flow from operating activities was a negative CNY 92,392,842.49, a significant decline of 2,483.19% compared to a positive CNY 3,876,853.16 in the same period last year[16]. - The basic and diluted earnings per share were both CNY -0.04, showing a 20.00% improvement from CNY -0.05 in the same period last year[16]. - The company reported a net profit of 5.27 million yuan, which was reduced by interest expenses of 5.27 million yuan from related party borrowings[73]. - The company reported a net loss for the first half of 2017 was CNY 18,241,761.14, slightly improved from a net loss of CNY 19,787,022.19 in the same period of 2016[128]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,359,921,112.22, an increase of 16.68% from CNY 1,165,528,072.32 at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company increased by 2.27% to CNY 565,697,350.98 from CNY 553,127,627.51 at the end of the previous year[16]. - The company's cash balance at the end of the reporting period was CNY 61.38 million, an increase of 145.74% compared to the beginning of the period, primarily due to capital injection from the controlling shareholder[26]. - Accounts receivable at the end of the reporting period amounted to CNY 38.67 million, reflecting a 48.36% increase from the beginning of the period, attributed to adjustments in the company's marketing model[26]. - Inventory at the end of the reporting period reached CNY 149.63 million, a significant increase of 337.05% compared to the beginning of the period, mainly due to increased purchases of imported drugs by the wholly-owned subsidiary[26]. - The company's total liabilities increased to CNY 407,395,040.96 from CNY 365,555,023.31, reflecting a growth of approximately 11%[125]. Cash Flow - The company's cash flow from financing activities increased significantly by 3,303.73% to ¥105,742,322.01, driven by loans from the controlling shareholder and investments in Ningbo Shuangcheng[33]. - The total cash inflow from financing activities was CNY 420,000,000.00, compared to CNY 226,000,000.00 in the previous period, indicating a 85.9% increase[137]. - The ending balance of cash and cash equivalents was 7,237,763.57 yuan, down from 32,198,218.77 yuan at the end of the previous period[140]. Research and Development - The company has developed three chemical synthetic peptide drugs, with 19 products included in the national medical insurance directory and 4 in the National Essential Medicines List[23]. - The company has a strong R&D team, including nearly 10 PhDs from the U.S., focusing on expanding product variety and adapting to international development needs[27]. - R&D investment decreased by 40.34% to ¥9,492,060.70, attributed to fewer ongoing projects compared to the previous year[33]. Risks and Challenges - The company faces various risks including industry policy changes, rising raw material prices, and product quality risks[4]. - The company is facing risks from rising raw material prices and regulatory changes in the pharmaceutical industry, which may impact production and sales[54]. - The company emphasizes strict quality control in drug production to mitigate risks related to drug safety and compliance with regulations[58]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company held several shareholder meetings during the reporting period, with participation rates ranging from 51.00% to 53.40%[60]. - The company did not experience any major litigation or arbitration matters during the reporting period[67]. Investments and Acquisitions - The company transferred ownership of drug development agreements for projects S001 and S003 to its affiliate Ningbo Shouzheng Pharmaceutical Research Co., Ltd. for a transaction amount of $1.078 million[74]. - The controlling shareholder, Hainan Shuangcheng Investment Co., Ltd., increased its investment in the wholly-owned subsidiary Ningbo Shuangcheng Pharmaceutical Co., Ltd. by 200 million RMB, resulting in a 48.81% ownership stake[74]. - The company established a wholly-owned subsidiary, Shuangcheng Pharmaceutical Europe Co., Ltd., in Italy with a registered capital of 10,000 Euros[91]. Financial Reporting and Compliance - The report indicates that there are no significant differences between the financial reports prepared under international accounting standards and Chinese accounting standards[17]. - The half-year financial report was not audited[65]. - The company's financial statements are prepared based on the going concern assumption, indicating no significant doubts about its ability to continue operations for the next 12 months[160].

Financial Performance - The company's operating revenue for Q1 2017 was ¥42,587,399.38, representing a 105.36% increase compared to ¥20,738,208.12 in the same period last year[8] - The net profit attributable to shareholders of the listed company was -¥8,746,620.64, a 22.47% improvement from -¥11,281,559.65 year-on-year[8] - The basic earnings per share for the period was -¥0.02, an improvement of 33.33% from -¥0.03 in the same period last year[8] - The diluted earnings per share also stood at -¥0.02, reflecting a 33.33% improvement compared to -¥0.03 year-on-year[8] - The company expects a net loss of between -16 million to -14 million yuan for the first half of 2017, with a narrower loss compared to -19.79 million yuan in the same period of 2016[25] Cash Flow and Assets - The net cash flow from operating activities was -¥12,801,828.52, a significant decline of 738.11% compared to -¥1,527,456.54 in the previous year[8] - Total assets at the end of the reporting period were ¥1,196,736,965.55, an increase of 2.68% from ¥1,165,528,072.32 at the end of the previous year[8] - The net assets attributable to shareholders of the listed company decreased by 1.11% to ¥547,015,239.99 from ¥553,127,627.51 at the end of the previous year[8] - Cash and cash equivalents decreased by 40.88% compared to the beginning of the period, primarily due to the use of funds for purchasing engineering and equipment[16] - Cash and cash equivalents net increase was 94.45% year-on-year, primarily due to the repayment of 155 million yuan in loans in the previous period[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,573[12] Operational Highlights - Operating revenue increased by 105.36% year-on-year, driven by higher product sales and improved settlement prices[18] - Operating costs rose by 44.34% year-on-year, mainly due to increased sales volume of pharmaceuticals[18] - Sales expenses surged by 829.34% year-on-year, largely due to increased market development costs following changes in the marketing model[18] - Accounts receivable increased by 40.30% compared to the beginning of the period, attributed to adjustments in the marketing model following the implementation of the two-invoice system in the pharmaceutical industry[16] Investments and Loans - The company confirmed an impairment loss of 96.80 million yuan on its long-term equity investment in Hangzhou Aoya Biotechnology Co., Ltd.[22] - The company obtained a 220 million yuan interest-free loan from its controlling shareholder to meet operational funding needs[22] - The company reported non-operating income of ¥531,727.42 from government subsidies during the reporting period[9] Regulatory and Compliance - The company received a listing permit for Thymosin Alpha 1 from the Italian Medicines Agency[22]

Financial Performance - The company's operating revenue for Q1 2017 was ¥42,587,399.38, representing a 105.36% increase compared to ¥20,738,208.12 in the same period last year[8] - The net profit attributable to shareholders of the listed company was -¥8,746,620.64, a decrease of 22.47% from -¥11,281,559.65 year-on-year[8] - The net cash flow from operating activities was -¥12,801,828.52, showing a significant increase of 738.11% compared to -¥1,527,456.54 in the previous year[8] - The basic earnings per share for the reporting period was -¥0.02, a 33.33% improvement from -¥0.03 in the same period last year[8] - The diluted earnings per share also stood at -¥0.02, reflecting the same 33.33% improvement compared to -¥0.03 year-on-year[8] - The weighted average return on net assets was -1.59%, a decrease of 0.37% from -1.22% in the previous year[8] - The company expects a net loss of between RMB 14 million and RMB 16 million for the first half of 2017, with a narrower loss compared to the same period last year[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,196,736,965.55, an increase of 2.68% from ¥1,165,528,072.32 at the end of the previous year[8] - The net assets attributable to shareholders of the listed company decreased by 1.11% to ¥547,015,239.99 from ¥553,127,627.51 at the end of the previous year[8] - Cash and cash equivalents decreased by 40.88% compared to the beginning of the period, primarily due to the use of funds for purchasing engineering and equipment[16] - Other current liabilities increased by 1028.56% compared to the beginning of the period, mainly due to a RMB 220 million interest-free loan from the controlling shareholder[17] Revenue and Costs - Operating revenue increased by 105.36% year-on-year, driven by higher product sales and improved settlement prices[18] - Operating costs rose by 44.34% year-on-year, mainly due to increased sales volume of pharmaceuticals[18] - Sales expenses surged by 829.34% year-on-year, largely due to increased market development costs following the adjustment of the marketing model[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,573[12] Government and Impairment - The company reported non-operating income of ¥531,727.42 from government subsidies during the reporting period[9] - The company confirmed an impairment loss of RMB 96.8 million on its long-term equity investment in Hangzhou Aoya Biotechnology Co., Ltd.[22] Market Developments - The company received a marketing license for Thymosin Alpha 1 injection from the Italian Medicines Agency[22] - Accounts receivable increased by 40.30% compared to the beginning of the period, attributed to adjustments in the marketing model following the implementation of the two-invoice system in the pharmaceutical industry[16]

Financial Performance - The company's operating revenue for 2016 was ¥145,135,787.60, a decrease of 37.16% compared to ¥230,970,366.92 in 2015[16] - The net profit attributable to shareholders for 2016 was -¥388,410,589.15, representing a decline of 837.32% from ¥52,679,055.47 in 2015[16] - The net cash flow from operating activities was ¥38,646,854.39, down 16.42% from ¥46,238,560.78 in the previous year[16] - The total assets at the end of 2016 were ¥1,165,528,072.32, a decrease of 24.81% from ¥1,550,160,888.46 at the end of 2015[16] - The net assets attributable to shareholders decreased by 40.37% to ¥553,127,627.51 from ¥927,605,216.66 in 2015[16] - The basic earnings per share for 2016 was -¥0.96, a decline of 838.46% compared to ¥0.13 in 2015[16] - The weighted average return on net assets was -52.96%, down 58.80% from 5.84% in 2015[16] - The company reported a total revenue of CNY 145,135,787.60 in 2016, a decrease of 37.16% compared to CNY 230,970,366.92 in 2015[34] - The company incurred a net loss of CNY 388,410,589.15 for the year, influenced by underperformance of its investment in Hangzhou Aoya Biotechnology Co., Ltd.[34] - The company achieved a gross margin of 57.77% in the industrial sector, down from the previous year by 3.33%[42] Investment and Assets - Long-term equity investments decreased by 56.63% to CNY 207 million, due to impairment provisions related to the valuation of its stake in Hangzhou Aoya[29] - The total assets at the end of 2016 were significantly impacted by a reduction in long-term equity investments, which dropped from CNY 477.31 million to CNY 207 million, a decrease of 56.60%[63] - Fixed assets increased to CNY 419.38 million, representing 35.98% of total assets, due to the completion of various R&D and production projects[64] - The impairment loss on assets amounted to CNY 277.55 million, primarily due to the decline in performance of Hangzhou Aoya, accounting for 72.08% of total profit[61] - The company reported a total of CNY 474,190,807.74 in restricted assets, including CNY 524,420.58 in cash for bank acceptance bill guarantees and CNY 1,038,009.21 in cash for letter of credit guarantees[66] Research and Development - Research and development investment increased by 32.58% year-on-year to 46,057,639.67 yuan, accounting for 31.73% of operating revenue[54] - The company completed most of the raw material production process development for somatostatin in 2016, with plans for large-scale production in 2017 and application for certification in 2018[54] - The company has developed nearly 10 new peptide products, focusing on high market potential and complex synthesis[24] - The company plans to focus on the re-development of the Aisena peptide project as an injection formulation, following regulatory changes[35] - The company has submitted an ANDA application for injectable bivalirudin to the FDA, which is currently under review[54] Market and Sales - The company achieved a market share of approximately 17% for its main product "Jitai," ranking among the top in its category[28] - The company’s multi-peptide products generated revenue of CNY 97,317,997.00, accounting for 67.05% of total revenue, with a year-on-year decline of 33.67%[40] - The company’s export revenue increased by 22.28% to CNY 18,463,142.31, representing 12.72% of total revenue[40] - The company's industrial sales revenue and production amount decreased by 35.88% and 31.05% year-on-year, primarily due to price declines and slower sales resulting from changes in bidding policies[44] - Pharmaceutical sales revenue in the commercial sector dropped by 46.23% year-on-year, with ending inventory decreasing by 20.59%, mainly due to the implementation of the two-invoice system, which led to lost business opportunities[45] Operational Challenges and Risks - The company faces various risks including industry policy changes, rising raw material prices, and product quality risks[4] - The company is facing risks from rising raw material prices and plans to establish procurement strategies to mitigate cost increases[79] - The company has faced uncertainties regarding the approval of new drug applications due to recent regulatory changes in the pharmaceutical industry[76] - The company emphasizes the importance of quality control in drug production, adhering to strict regulations to mitigate quality risks[82] Corporate Governance and Compliance - The company has committed to ensuring the independence of Hainan Shuangcheng Pharmaceutical Co., Ltd. and will not engage in related party transactions that could compromise this independence[90] - The company guarantees that it will not seek or accept more favorable conditions than those offered to third parties in any market transactions[90] - The commitments made by the actual controller and related parties are aimed at preventing conflicts of interest and ensuring compliance with relevant laws and regulations[92] - The company has emphasized the importance of transparency and accountability in its operations and decision-making processes[92] - The company has established a robust internal audit system with 3 auditors to oversee financial reports and internal controls[181] Future Outlook and Strategy - The company plans to enhance its international strategy by developing overseas applications and collaborating with foreign enterprises through various methods, including patent licensing and joint development[74] - The company plans to optimize its marketing system and resource allocation to improve bid success rates for key products[77] - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 500 million CNY allocated for this purpose[96] - The company has a positive outlook for the next fiscal year, projecting a revenue growth of 25%[165] - The company aims to reduce operational costs by 15% through efficiency improvements in the supply chain[165] Employee and Management - The total number of employees in the company is 543, with 453 in the parent company and 90 in major subsidiaries[173] - The total remuneration for directors and senior management during the reporting period amounts to 431.93 million CNY[171] - The company has implemented various training programs to enhance employee skills and capabilities[175] - The management team includes professionals with extensive experience in pharmaceutical production and management, enhancing the company's operational capabilities[159] Shareholder Information - The total share capital of the company decreased from 419,185,500 shares to 405,000,000 shares due to the termination of the stock incentive plan and the repurchase of unvested restricted stocks totaling 14,185,500 shares[138] - The number of shareholders holding more than 5% of shares includes Hainan Shuangcheng Investment Co., Ltd. with 34.45% and HSP Investment Holdings Limited with 16.03%[144] - The company reported a total of 18,694 shareholders at the end of the reporting period[144] Environmental and Social Responsibility - The company has implemented a comprehensive pollution management system to comply with environmental regulations and reduce associated risks[81] - The company plans to increase its production capacity for wastewater treatment to comply with stricter environmental regulations[129] - The company has not yet initiated targeted poverty alleviation efforts and has no subsequent plans for such initiatives[126]

海南双成药业股份有限公司 2016 年第三季度报告正文 证券代码：002693 证券简称：双成药业 公告编号：2016-068 海南双成药业股份有限公司 2016 年第三季度报告正文 0 海南双成药业股份有限公司 2016 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。 公司负责人王成栋、主管会计工作负责人王旭光及会计机构负责人(会计主 管人员)周云声明：保证季度报告中财务报表的真实、准确、完整。 1 海南双成药业股份有限公司 2016 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 √ 是 □ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度 末增减 | | --- | --- | --- | --- | --- | | | | 调整前 | 调整后 | 调整后 | | 总资产（元） | 1,317,419 ...

Financial Performance - The company's operating revenue for the first half of 2016 was ¥54,924,789.21, a decrease of 37.62% compared to the same period last year[21]. - The net profit attributable to shareholders was -¥19,787,022.19, representing a decline of 188.71% year-on-year[21]. - The net profit after deducting non-recurring gains and losses was -¥21,303,910.13, a decrease of 231.16% compared to the previous year[21]. - The net cash flow from operating activities was ¥3,876,853.16, down 52.56% from the same period last year[21]. - The total assets at the end of the reporting period were ¥1,454,004,602.78, a decrease of 6.20% from the end of the previous year[21]. - The net assets attributable to shareholders at the end of the reporting period were ¥914,784,594.47, down 1.38% from the previous year[21]. - The basic earnings per share were -¥0.05, a decline of 183.33% compared to the same period last year[21]. - The diluted earnings per share were also -¥0.05, reflecting the same percentage decline as basic earnings[21]. - The weighted average return on net assets was -2.16%, a decrease of 4.62% year-on-year[21]. - The company reported a total profit for the first half of 2016 was a loss of CNY 25,740,420.72, compared to a profit of CNY 24,642,376.28 in the same period last year[138]. Revenue and Sales - The company reported a revenue of ¥54,924,789.21, a decrease of 37.62% year-on-year, primarily due to declining sales volume influenced by industry policies and market competition[32]. - The company experienced a decrease in sales revenue, which fell to CNY 45,648,884.77 from CNY 81,189,543.49 in the previous year[141]. Research and Development - Research and development expenses increased by 39.99% to ¥15,909,183.38, driven by higher technical development costs and personnel expenses[32]. - The company plans to optimize its R&D strategy in response to the latest drug review and approval policies issued by the National Medical Products Administration[38]. - The company has withdrawn drug registration applications for several products after reassessing their clinical value and market prospects[34]. - The company has a strong R&D team, including nearly 10 PhDs with overseas experience, supporting rapid project advancement and international strategy implementation[43]. Investments and Capital Expenditure - The total amount of raised funds is CNY 54,961.97 million, with a cumulative investment of CNY 58,505.02 million[53]. - The company did not make any investments during the reporting period, compared to CNY 640 million in the same period last year[44]. - The company has invested CNY 96 million of surplus raised funds into its wholly-owned subsidiary, Ningbo Shuangcheng, for the research and production of anti-tumor drugs and oral solid preparations[56]. - The total investment for the new lyophilized workshop project was increased from CNY 52.6 million to CNY 70.3657 million[57]. - The cumulative investment in the existing plant renovation and new plant construction project reached CNY 183.7834 million, achieving 72.78% of the planned investment[60]. Cash Flow and Financing - The company's cash flow from operating activities decreased by 52.56% to ¥3,876,853.16, mainly due to declining revenue and increased operating expenses[32]. - The company's net cash flow from investment activities was -¥130,660,610.35, a decrease of 60.60% compared to the previous year[33]. - The cash inflow from financing activities totaled 226,000,000.00, down from 313,934,048.50 in the previous period[147]. - The net cash flow from financing activities was -3,300,597.25, a significant decline from 279,968,472.10 in the previous period[147]. Shareholder and Equity Information - The company plans to distribute cash dividends, prioritizing cash over stock dividends, and aims for a minimum of 30% of the average distributable profit over three consecutive years[101]. - The company has a profit distribution policy that mandates a minimum cash dividend ratio of 80% during mature stages without major capital expenditures[101]. - The total number of common shareholders at the end of the reporting period is 24,679[115]. - Hainan Shuangcheng Investment Co., Ltd. holds 33.28% of the shares, with 139,516,546 shares pledged[115]. Compliance and Governance - The company has not faced any penalties or rectification issues during the reporting period[103]. - The company has not reported any major litigation or arbitration matters during the reporting period[76]. - The company has not experienced any significant changes in its governance structure or compliance with regulations[75]. Assets and Liabilities - The total assets decreased from CNY 1,550,160,888.46 to CNY 1,454,004,602.78, a decline of approximately 6.2%[129]. - Total liabilities decreased from CNY 622,555,671.80 to CNY 539,220,008.31, a decrease of approximately 13.4%[130]. - Owner's equity decreased from CNY 927,605,216.66 to CNY 914,784,594.47, a decline of about 1.4%[131]. Future Outlook - The company expects a net loss of between -32 million and -28 million yuan for the first nine months of 2016, compared to a net profit of 14.976 million yuan in the same period of 2015[70]. - The company has a continuous operating capacity with no significant doubts about its ability to continue operations for the next 12 months[168].

Financial Performance - The company's operating revenue for Q1 2016 was ¥20,738,208.12, a decrease of 24.38% compared to ¥27,423,985.15 in the same period last year[7] - The net profit attributable to shareholders was -¥11,281,559.65, representing a decline of 331.47% from ¥4,873,894.02 in the previous year[7] - The basic and diluted earnings per share were both -¥0.03, a decrease of 400.00% from ¥0.01 in the previous year[7] - The net profit attributable to shareholders for the first half of 2016 is expected to range from 997,000 to 7,688,500 RMB, representing a decrease of 95.53% to 65.53% compared to the same period in 2015[28] - The net profit for the first half of 2015 was 22,305,000 RMB, indicating a significant decline in performance for 2016[29] - The decline in performance is primarily attributed to startup costs incurred by the wholly-owned subsidiary Ningbo Shuangcheng Pharmaceutical Co., Ltd. during its establishment phase, as well as fluctuations in regional market bidding and declining bid prices[29] Cash Flow and Assets - The net cash flow from operating activities was -¥1,527,456.54, an improvement of 80.89% compared to -¥7,991,400.72 in the same period last year[7] - Total assets at the end of the reporting period were ¥1,441,156,315.40, down 7.03% from ¥1,550,160,888.46 at the end of the previous year[7] - The net assets attributable to shareholders decreased by 1.22% to ¥916,323,657.01 from ¥927,605,216.66 at the end of the previous year[7] - Cash and cash equivalents decreased by 76.83% at the end of the reporting period compared to the beginning, primarily due to the repayment of a loan of 145 million by the wholly-owned subsidiary Ningbo Shuangcheng and capital expenditures of 76 million[14] - Accounts receivable decreased by 70.55% at the end of the reporting period compared to the beginning, mainly due to the use of bank acceptance bills for material and equipment purchases[14] - Construction in progress increased by 46.06% at the end of the reporting period compared to the beginning, primarily due to increased investments in projects by Ningbo Shuangcheng and the parent company's technical renovation projects[14] - Prepayments increased by 54.99% at the end of the reporting period compared to the beginning, attributed to enhanced collection efforts for sales receivables[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,166[10] - The largest shareholder, Hainan Shuangcheng Investment Co., Ltd., held 33.28% of the shares, amounting to 139,516,546 shares[10] Expenses - Sales expenses decreased by 60.17% compared to the same period last year, mainly due to reduced business promotion and marketing expenditures[16] - Management expenses increased by 147.44% compared to the same period last year, primarily due to underutilization of production capacity and increased consulting fees[16] - Financial expenses increased by 120.29% compared to the same period last year, mainly due to higher loan interest expenses[16] Related Party Transactions and Commitments - The company has pledged to adhere to legal regulations and company bylaws in all related party transactions, ensuring fair treatment[24] - The company will not seek any benefits beyond those stipulated in related party agreements with its subsidiary[24] - The company has a long-term commitment to fulfill its obligations as a controlling shareholder, ensuring the independence of its subsidiary[24] - The company has established a framework to prevent conflicts of interest in transactions involving its subsidiary[24] - The company will compensate its subsidiary and its shareholders for any losses incurred due to violations of these commitments[23] - The company has made a commitment to prioritize the interests of its subsidiary in any competitive scenarios[23] - The company has a history of normal compliance with its commitments since 2011[24] - The company will ensure that its related parties do not demand preferential treatment in transactions with its subsidiary[24] Future Plans and Policies - The company plans to increase its shareholding by no less than 500,000 shares within six months from July 15, 2015, following the resumption of trading[26] - The company commits to a cash dividend policy, prioritizing cash distributions and aiming for annual cash dividends, contingent on positive distributable profits and sufficient cash flow[26] - The company has a three-year shareholder return plan (2015-2017), focusing on cash or cash-and-stock dividend distributions[26] - The company assures that any related party transactions will be conducted under normal commercial conditions and in compliance with relevant laws and regulations[25] - The company emphasizes the importance of maintaining the independence of its operations and decision-making processes[25] - The company has committed to not engaging in insider trading or sensitive period transactions during the shareholding increase period[26] - The company will conduct cash dividends only if the annual distributable profits are positive and the audit report is unqualified[26] - The company has pledged to actively promote cash dividends when conditions allow, ensuring that such distributions do not affect its ongoing operations[26] - The company has established a commitment to avoid any related party transactions that could infringe on the rights of other shareholders[25] Acquisition and Investment Activities - The company has made progress in the due diligence of the acquisition project in Germany and is negotiating related purchase agreements[20]