天津红日药业股份有限公司 2014 年第三季度报告全文 天津红日药业股份有限公司 2014 年第三季度报告 2014-089 2014 年 10 月 1 天津红日药业股份有限公司 2014 年第三季度报告全文 第一节 重要提示 本公司董事会、监事会及其董事、监事、高级管理人员保证本报告所载资料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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人姚小青、主管会计工作负责人蓝武军及会计机构负责人(会计主管人员)蓝武军声明：保证 季度报告中财务报告的真实、完整。 2 天津红日药业股份有限公司 2014 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 √ 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） | -631,157.57 | | | 越权审批或无正式批准文件的税收返还、减免 | 53,483.01 | | | 计入当期损益的政府补助（与企业业务密切相关，按 ...

Financial Performance - Total revenue for the first half of 2014 reached ¥1,248,161,758.29, representing a 32.67% increase compared to ¥940,824,955.88 in the same period last year[18]. - Net profit attributable to shareholders was ¥220,472,936.59, up 33.51% from ¥165,134,364.62 year-on-year[18]. - Basic earnings per share increased by 34.48% to ¥0.39 from ¥0.29 in the previous year[18]. - The total profit margin for the company increased to 20.67% in the first half of 2014, compared to 19.85% in the same period last year[28]. - The company reported a significant increase in cash flow from financing activities, with a net cash inflow of CNY 135.96 million, a growth of 250.38%[32]. - The company reported a net cash outflow from investing activities of CNY 36,916,097.64, an improvement from a net outflow of CNY 98,897,661.95 in the previous year[126]. - The net profit for the current period is 104,967,660 CNY, contributing to a total of 340,897,510 CNY in retained earnings[135]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥2,655,237,233.68, a 19.66% increase from ¥2,218,991,608.49 at the end of the previous year[18]. - The total liabilities of the company amounted to CNY 572,986,341.98, compared to CNY 516,399,477.48 at the beginning of the period, marking an increase of about 10.9%[113]. - The owner's equity totaled CNY 2,082,250,891.70, up from CNY 1,702,592,131.01, reflecting a growth of approximately 22.3%[113]. - The total assets reached ¥2,294,699,035.82, an increase of 10.7% from ¥2,072,707,000.76 at the start of the period[116]. Cash Flow - The net cash flow from operating activities was ¥57,479,746.62, down 36.59% from ¥90,644,484.97 in the same period last year[18]. - Total cash inflow from operating activities reached CNY 1,243,520,064.78, while cash outflow was CNY 1,186,040,318.16, resulting in a net cash inflow of CNY 57,479,746.62[125]. - The total cash and cash equivalents at the end of the period increased to CNY 445,533,115.61, compared to CNY 297,970,615.45 at the end of the previous period[126]. Investments and R&D - R&D investment amounted to CNY 35.18 million, reflecting an increase of 11.11% compared to the previous year[32]. - The company has multiple drugs at various stages of research and registration, indicating a robust pipeline for future growth[44]. - The project for developing a new anti-hepatitis C drug in collaboration with the Shanghai Institute of Materia Medica has utilized CNY 760 million[52]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[7]. - The profit distribution plan for 2013 was approved, with a cash dividend of 1 RMB per 10 shares, totaling 38,202,031.80 RMB, and a capital reserve conversion of 5 shares for every 10 shares, increasing total shares from 382,020,318 to 573,030,477[63]. - The company implemented a restricted stock incentive plan on February 28, 2014, granting 8.048 million shares to 68 incentive targets[94]. Market and Industry Position - The company is actively participating in the formulation and revision of industry regulations to mitigate policy risks in the pharmaceutical sector[26]. - The aging population and health awareness in China are expected to drive growth in the pharmaceutical industry, outpacing GDP growth[41]. - The company is expanding its marketing network, maintaining a leading position in the market for blood purification injections and traditional Chinese medicine granules[42]. Compliance and Governance - The financial report for the first half of 2014 was not audited, which may affect the reliability of the financial data presented[109]. - The company has not encountered any significant changes in project feasibility or issues with the use of raised funds[52]. - The company confirmed that the cash dividend policy complies with the company's articles of association and shareholder resolutions[64]. Risk Management - The company is focusing on reducing risks associated with new product development through a combination of independent and collaborative research efforts[26]. - The company is actively addressing industry policy risks by enhancing internal management and participating in regulatory developments[44].

Financial Performance - Total revenue for Q1 2014 reached ¥504,584,470.83, an increase of 25.84% compared to ¥400,971,106.09 in the same period last year[9] - Net profit attributable to ordinary shareholders was ¥83,096,820.37, reflecting a growth of 36.01% from ¥61,098,210.83 year-on-year[9] - Basic earnings per share increased by 37.5% to ¥0.22 from ¥0.16 in the same period last year[9] - The company's operating revenue for the first quarter was 504.58 million CNY, representing a year-on-year growth of 25.84%[25] - The net profit attributable to shareholders for the first quarter was 83.10 million CNY, reflecting a year-on-year increase of 36.01%[25] - Total operating revenue for Q1 2014 was CNY 504,584,470.83, an increase of 25.8% compared to CNY 400,971,106.09 in the same period last year[54] - Net profit for Q1 2014 reached CNY 83,047,292.99, representing a 36.0% increase from CNY 61,065,809.70 in Q1 2013[55] - Operating profit reached CNY 48,537,313.52, up from CNY 39,652,885.50, reflecting a growth of 22.5% year-over-year[58] Cash Flow and Assets - The net cash flow from operating activities decreased significantly by 84.94%, amounting to ¥8,922,292.07 compared to ¥59,257,639.58 in the previous year[9] - The company's cash and cash equivalents at the end of the period reached 583.42 million CNY, an increase of 45.67% compared to the beginning of the year, primarily due to the implementation of a restricted stock incentive plan[21] - Cash and cash equivalents increased to CNY 487,639,740.29 in Q1 2014 from CNY 315,853,148.43 in Q1 2013[51] - The net cash flow from operating activities was CNY 8,922,292.07, a decrease of 85.0% compared to CNY 59,257,639.58 in the prior year[61] - The total current assets reached ¥1.56 billion, up from ¥1.31 billion, indicating a growth of about 19%[46] - The total assets at the end of the reporting period were ¥2,454,568,907.82, representing a 10.62% increase from ¥2,218,991,608.49 at the end of the previous year[9] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,907, with the top ten shareholders holding significant stakes[13] - The largest shareholder, Tianjin Datong Investment Group Co., Ltd., holds 24.75% of shares, while the second-largest shareholder, Yao Xiaoqing, holds 21.28%[14] - The total number of unrestricted shares held by the top 10 shareholders is 94,539,629 shares, with Tianjin Datong Investment Group Co., Ltd. being the largest shareholder[15] - The management team has released 4,500,000 shares from the lock-up period for Yao Xiaoqing, reducing her restricted shares to 61,190,848[16] - The company has a shareholder return plan in place, which has been adhered to during the reporting period[34] Investment and R&D - The company is adjusting its R&D strategy to mitigate risks associated with new product development, focusing on both innovative and generic drug research[12] - The company aims to increase R&D investment and accelerate the registration of existing projects to enhance future profitability[28] - The company faces high risks in new product development due to high investment, long cycles, and complex technologies, particularly in innovative drug development[29] - To mitigate new product development risks, the company will adjust its R&D strategy by combining independent and collaborative R&D, focusing on innovative drug development supplemented by generic drug development[29] - The investment in the blood purification technology upgrade project is 20,190 million, with a completion rate of 79.92%[36] - The investment in the R&D center construction project is 15,949 million, with a completion rate of 82.5%[36] Compliance and Commitments - The company has committed to avoiding competition in the same industry and reducing related party transactions[34] - The company has ensured compliance with commitments made regarding stock lock-up and performance targets during the reporting period[34] - There are no unfulfilled commitments or reasons for non-compliance reported during the period[34] - The company has not provided funds to controlling shareholders or related parties, nor violated procedures for external guarantees[42] - The company strictly adhered to its profit distribution policy, with no adjustments made during the reporting period[40]

Financial Performance - The company's operating revenue for 2013 was ¥2,097,201,203.42, representing a 70.61% increase compared to ¥1,229,251,677.54 in 2012[20] - The net profit attributable to shareholders was ¥339,536,492.34, a 46.92% increase from ¥231,098,259.89 in the previous year[20] - The total assets at the end of 2013 reached ¥2,218,991,608.49, up 23.15% from ¥1,801,820,483.04 in 2012[20] - The company's operating profit for 2013 was ¥386,011,401.58, which is a 24.79% increase from ¥309,327,101.74 in 2012[20] - The basic earnings per share increased to ¥0.91, a rise of 37.88% from ¥0.66 in the previous year[20] - The total liabilities at the end of 2013 were ¥516,399,477.48, reflecting a 24.38% increase from ¥415,194,379.19 in 2012[20] - The weighted average return on equity for 2013 was 22.17%, compared to 20.65% in 2012, showing an improvement of 1.52%[20] - The net cash flow from operating activities was ¥143,596,285.14, a decrease of 5.66% from ¥152,213,150.88 in 2012[20] Revenue and Sales Growth - The sales revenue of Xuebijing injection reached 1,010.18 million yuan, with a year-on-year growth of 101.73%[32] - The company achieved operating revenue of CNY 2,097,201,203.42 in 2013, an increase of 70.61% compared to the previous year, primarily due to improved sales strategies and a significant revenue increase of 55.68% from subsidiary Kangruntang[38] - Operating costs for 2013 amounted to CNY 317,837,080.37, reflecting a 30.43% increase year-on-year, driven by higher sales volumes[38] - Sales expenses rose to CNY 1,132,902,952.55, a 117.83% increase, attributed to the company's adjustment of sales strategies and increased market development costs previously borne by agents[47] Research and Development - The company has made significant progress in R&D, with key projects like KB and PTS advancing smoothly, laying the foundation for future product launches[32] - The company is adapting its R&D strategy to combine independent and collaborative efforts, aiming to reduce risks associated with new product development[28] - Research and development expenses increased by 73.72% compared to the previous year, with capitalized costs accounting for 16.78% of total R&D expenditures[47] - The company is actively engaged in R&D collaborations with several prestigious research institutions to develop new products[65] Production and Quality Control - The production system achieved GMP certification for the small-volume injection production line by the end of 2013[33] - The company has established a comprehensive quality control system from raw materials to finished products, with over 30 patents for process inventions[67] - The company successfully passed ISO9001:2008 quality system certification, enhancing its quality management capabilities[54] Financial Management and Investments - The company has focused on risk management and internal control, enhancing financial oversight across subsidiaries[35] - The company invested CNY 78,502,593.72 in R&D in 2013, representing 3.74% of its operating revenue[50] - The company has established a new dedicated account for raised funds, transferring all balances from the previous account[72] - The company has implemented a three-party supervision agreement for fundraising management, ensuring compliance with relevant regulations[79] Shareholder Returns and Dividends - The company proposed a profit distribution plan for 2013, with a cash dividend of 1 RMB per 10 shares, totaling 38,202,031.80 RMB, and a capital reserve increase of 5 shares for every 10 shares, resulting in a total share capital increase to 573,030,477 shares[97] - The cash dividend accounted for 100% of the total profit distribution for 2013, reflecting a strong commitment to returning value to shareholders[96] - The cash dividend payout ratio for 2013 was 11.25%, compared to 10.79% in 2012 and 21.02% in 2011, indicating a consistent approach to shareholder returns[101] Corporate Governance - The company has established and executed a management system for insider information to protect investor rights and ensure fair information disclosure[102] - The governance structure complies with relevant laws and regulations, with no unresolved governance issues reported[163] - The company has implemented a stock incentive plan for senior management and key personnel to enhance motivation[165] Market Position and Future Plans - The company plans to focus on new product development and market expansion, particularly in the blood purification and formula granule sectors, to achieve stable growth over the next three years[91] - The company is considering structural and merger directions for external development in the next 1-2 years[106] - The company is actively pursuing mergers and acquisitions to strengthen its market position and has conducted extensive research on potential targets[54] Employee and Management Structure - The total compensation for the company's directors, supervisors, and senior management in 2013 amounted to ¥20,850,401.97, which is approximately $3.2 million[156] - The company employed a total of 959 staff members, with 20.33% in R&D and technical roles, and 34.41% in sales positions[159] - The management team has a strong background in clinical research and drug production, which supports the company's growth strategy[150] Compliance and Risk Management - The company has implemented a comprehensive internal control system to mitigate risks and ensure compliance with relevant laws and regulations[171] - The company has not faced any administrative penalties during the reporting period[126] - The company has not reported any violations regarding external guarantees or stock trading by major shareholders during the reporting period[126]