HRPC(SH:600829)2024-08-08 09:26Financial Performance - The company's operating revenue for the first half of 2024 was ¥4,985,528,449.27, a decrease of 5.49% compared to ¥5,275,215,855.48 in the same period last year[15]. - The net profit attributable to shareholders of the listed company was ¥135,191,800.25, down 11.84% from ¥153,342,732.01 in the previous year[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥123,208,662.72, a decrease of 18.59% compared to ¥151,346,738.43 in the same period last year[15]. - The net cash flow from operating activities was -¥205,189,408.56, indicating a significant decline compared to ¥265,643,607.92 in the previous year[15]. - The basic earnings per share decreased by 11.84% to 0.2331 RMB per share compared to 0.2644 RMB per share in the previous year[16]. - The gross profit margin was 9.08%, a decline of 0.29% from the previous year[31]. - The total profit for the first half of 2024 was CNY 176,912,063.92, down from CNY 204,376,065.24 in the previous year, reflecting a decline of approximately 13.4%[80]. - The total comprehensive income for the first half of 2024 was CNY 135,191,800.24, compared to CNY 153,434,441.40 in the first half of 2023, reflecting a decrease of about 11.9%[83]. Assets and Liabilities - Total assets at the end of the reporting period were ¥7,188,959,728.32, a decrease of 3.20% from ¥7,426,464,728.93 at the end of the previous year[15]. - The net assets attributable to shareholders at the end of the reporting period were ¥2,803,106,065.32, an increase of 1.88% from ¥2,751,418,223.04 at the end of the previous year[15]. - The company's cash and cash equivalents decreased to CNY 1.02 billion from CNY 1.31 billion, representing a decline of approximately 22.5%[72]. - Current liabilities totaled CNY 4.23 billion, down from CNY 4.52 billion, reflecting a decrease of about 6.4%[73]. - The total liabilities decreased to CNY 4,385,896,421.59 from CNY 4,675,089,264.47, indicating a reduction in financial leverage[74]. Revenue Segments - The wholesale segment saw a revenue decline of 7.18% year-on-year, while the retail segment grew by 3.87%[16]. - The wholesale business generated revenue of 412,452.47 million yuan, with medical distribution revenue at 297,449.19 million yuan and commercial allocation revenue at 115,003.28 million yuan[32]. - The retail business reported revenue of 79,284.89 million yuan, with 389 direct-operated stores, including 245 in Harbin[35]. Membership and Customer Base - The company expanded its membership base to 2.47 million, an increase of nearly 220,000 members compared to the same period last year[27]. - The company maintained a member sales ratio of approximately 78%[31]. Operational Efficiency - The company is focusing on enhancing service quality and operational efficiency to adapt to market changes and improve customer satisfaction[30]. - The company is actively developing a multi-platform marketing model, integrating online and offline services to enhance customer convenience[24]. - The logistics center processed 2.32 million items and served an average of 906 customers daily during the reporting period[39]. Risk Management - The company faces risks from industry policy changes, intensified market competition, information system security, and accounts receivable management, which could impact cash flow and operational stability[51]. - To mitigate risks, the company plans to enhance management capabilities, adjust operational strategies, and improve service quality to maintain competitiveness in the pharmaceutical distribution market[51]. Environmental and Social Responsibility - The company has not reported any environmental violations or received administrative penalties related to environmental protection during the reporting period[56]. - The company adheres to the principles of ecological civilization construction and actively responds to national "carbon neutrality" and "carbon peak" policies, focusing on energy conservation and emission reduction in daily operations[57]. - The company implements strict management of dining services to reduce food waste, in line with the national "Anti-Food Waste Law," effectively minimizing grain waste[58]. Shareholder Information - The company reported a total of 23,994 common shareholders as of the end of the reporting period[67]. - Harbin Pharmaceutical Group Co., Ltd. holds 74.82% of the company's shares, totaling 433,894,354 shares[67]. Accounting Policies - The financial statements are prepared based on the accrual basis of accounting, in accordance with the accounting standards issued by the Ministry of Finance[95]. - The company’s accounting policies include depreciation of fixed assets and amortization of intangible assets, tailored to its operational characteristics[96]. - The company’s fiscal year runs from January 1 to December 31, with a business cycle of 12 months[98][99]. Accounts Receivable - The company's accounts receivable balance at the end of the period is CNY 4,441,208,023.75, an increase from CNY 4,375,477,733.00 at the beginning of the period[167]. - The total accounts receivable balance is CNY 4,441,208,023.75, with a bad debt provision of CNY 207,803,390.45, resulting in a provision ratio of 4.68%[172]. - The company has a significant amount of accounts receivable from large customers, with CNY 1,717,348,824.13 being less than one year old, and a provision of CNY 110,708,919.30[171]. Inventory Management - The total inventory at the end of the period is CNY 1,076,549,393.58, with a provision for inventory depreciation of CNY 1,822,224.86[188]. - The raw materials account for CNY 1,169,278.58, while the work-in-progress is valued at CNY 2,816,624.86[188]. Investment and Capital Management - The company reported a significant increase in expected credit losses, with provisions calculated based on the weighted average of credit losses for financial instruments[122]. - The company capitalizes borrowing costs directly attributable to the acquisition or production of qualifying assets, ceasing capitalization once the asset is ready for use[140].