Compensation and Emoluments - The total emoluments for the five highest-paid individuals amounted to RMB675,691.32, an increase of 8.9% from RMB620,325.08 in the previous year[3]. - Major management's total emoluments reached RMB3,372,674.92, reflecting a 22.6% increase from RMB2,749,145.78 in the prior year[7]. - The Group's emoluments for social insurance, housing fund, and relevant pension costs totaled RMB229,653.14, an increase from RMB182,190.86 in the previous year[3]. Financial Performance - Revenue from pharmaceutical sales for the year was 1,502,291,335.20 in the previous year, representing a growth of approximately 3.6%[69]. - The total operating revenue for the year was 1,576,479,571.62 in the previous year, indicating an increase of about 4.4%[69]. - The company reported gains from the disposal of non-current assets amounting to $65,839,056.46 for the year[73]. - The net profit attributable to the equity shareholders of the parent company for the reporting period was approximately 50.34 million, with a weighted average return on net assets of 16.45%[117]. - The basic earnings per share for the reporting period was 0.8369, and the diluted earnings per share was also 0.8369[117]. - The company’s net profit excluding non-recurring profit and loss was approximately 7.29 million, with a corresponding basic and diluted earnings per share of 0.3708[117]. Accounts Receivable and Bad Debts - Trade receivables at the end of the year were RMB300,333,159.81, a slight decrease from RMB304,238,736.86 at the beginning of the year, indicating a reduction of 1.5%[16]. - The provision for bad debts decreased to RMB3,240,447.62 from RMB5,529,013.97, marking a reduction of 41.5%[16]. - The bad debt provision for trade receivables made on an individual basis was RMB1,115,185.55, accounting for 0.37% of the total book balance[20]. - The collective bad debt provision amounted to RMB2,125,262.07, which is 0.71% of the collective book balance of RMB299,217,974.26[21]. - The total bad debt provision at the end of the year was RMB3,240,447.62, reflecting a significant increase from the previous year's provision[24]. Shareholding and Corporate Governance - Public shareholding accounted for 21.62% of the total issued share capital, which is below the minimum requirement of 25%[13]. - The controlling shareholder, Mr. Yao Chuanglong, confirmed compliance with the non-competition deed for the year ended December 31, 2022[34]. - The independent non-executive Directors reviewed compliance status and confirmed that the controlling shareholder adhered to the non-competition deed[34]. - The independent non-executive directors confirmed that the terms of continuing connected transactions are fair and reasonable, aligning with the overall interests of the shareholders[51]. Assets and Liabilities - Total current assets increased to RMB2,462,361,349.11 as of December 31, 2022, up from RMB2,238,222,282.83 in 2021, representing a growth of approximately 10%[154]. - Total non-current assets decreased to RMB403,523,794.93 in 2022 from RMB524,869,239.03 in 2021, reflecting a decline of approximately 23%[156]. - Total liabilities amounted to RMB2,271,402,825.64 as of December 31, 2022, slightly up from RMB2,258,989,542.23 in 2021, showing a marginal increase of about 0.6%[158]. - Total shareholders' equity attributable to the shareholders of the parent company increased to RMB594,482,318.40 in 2022, compared to RMB504,101,979.63 in 2021, marking a growth of approximately 18%[159]. Cash Flow and Financing Activities - Cash flow from operating activities totaled RMB3,696,584,127.65 in 2022, up from RMB3,282,927,789.69 in 2021, indicating a growth of 12.63%[189]. - The company reported a net cash flow from operating activities of RMB44,050,304.46 in 2022, a turnaround from a negative cash flow of RMB-19,543,392.21 in 2021[189]. - Cash received from borrowings in financing activities decreased to RMB825,887,076.38 in 2022 from RMB957,970,978.42 in 2021, a decline of 13.8%[191]. - Net cash flow from financing activities turned negative at RMB-191,211,558.73 in 2022, compared to a positive RMB74,400,884.77 in 2021[191]. Internal Control and Audit - The Board of Supervisors has conducted a review and found that the company has established an appropriate internal control system that operates effectively[126]. - The company’s connected transactions in 2022 have been filed, audited, announced, and approved by independent shareholders in accordance with the Listing Rules[125]. - The audit opinion does not cover other information and does not express any form of assurance conclusion on it[145]. - The overall presentation, structure, and content of the financial statements must be evaluated to ensure fair representation of underlying transactions[148]. Inventory Management - The balance of inventories as of December 31, 2022, was RMB590.002 million, with a provision for impairment of inventories amounting to RMB3.1483 million, leading to a carrying amount of RMB586.8537 million[139]. - The company made full provisions for inventories that would expire within 180 days and remained unsold prior to the reporting date[139]. - The management's internal controls regarding the validity period and stock-in time of inventories were tested in the SAP system[139].
创美药业(02289) - 2022 - 年度财报