Financial Performance - The company's revenue for the first quarter of 2020 was RMB 129,952,000, a decrease of 7.2% compared to RMB 140,961,000 in the same period of 2019[4] - Gross profit for the first quarter of 2020 was RMB 111,380,000, down from RMB 118,397,000 in the first quarter of 2019, reflecting a decline of 5.7%[4] - Operating profit for the first quarter of 2020 was RMB 16,964,000, compared to RMB 18,059,000 in the first quarter of 2019, representing a decrease of 6.0%[4] - Profit attributable to shareholders for the first quarter of 2020 was RMB 13,870,000, down 9.1% from RMB 15,261,000 in the same period of 2019[4] - Basic earnings per share for the first quarter of 2020 were 2.47 cents, a decrease from 2.7 cents in the first quarter of 2019[4] - The profit attributable to shareholders for the same period was RMB 13,870,000, down 9% from RMB 15,261,000 in 2019[16] Other Income and Expenses - The company reported other income of RMB 17,182,000, significantly higher than RMB 7,394,000 in the first quarter of 2019, marking an increase of 132.5%[4] - The company’s financial expenses increased to RMB 653,000 in the first quarter of 2020 from RMB 33,000 in the same period of 2019[4] - The effective tax rate for the company remained at 15% for both the first quarter of 2020 and 2019[9] Dividends - The company did not recommend the payment of an interim dividend for the first quarter of 2020, compared to no dividend in the same period of 2019[12] - The total amount of proposed special dividend for the previous financial year is RMB 19,608,750, down from RMB 39,217,500 in 2019[12] Financial Position - The company maintained a strong financial position with cash and bank balances totaling RMB 131,450,000 as of March 31, 2020, down from RMB 150,467,000 in 2019[19] - The net asset value of the group was approximately RMB 1,197,129,000 as of March 31, 2020, compared to RMB 1,148,286,000 in 2019[19] - The company's capital debt ratio was 0.2% as of March 31, 2020, unchanged from the previous year[20] Cost and Production - Distribution and selling costs as a percentage of revenue increased to 78% from 67.4% year-on-year, a rise of 10.6%[16] - The gross margin for the three months ending March 31, 2020, was approximately 85.7%, an increase of 1.7% from 84% in the same period of 2019[16] - The board believes that production and material costs have not experienced significant fluctuations during the reporting period[16] - The company upgraded its production facilities, enhancing capacity to meet market demand, including the construction of a new solid dosage drug workshop[18] - The company is actively developing new products, with the research on Irbesartan tablets completed[18] Corporate Governance - The audit committee was established on May 24, 2001, to review and supervise the financial reporting procedures and internal control systems of the group[43] - The board believes that having an executive chairman is in the best interest of the group, as it facilitates open communication between the board and management[42] Share Activity - The company has not purchased, sold, or redeemed any of its listed shares during the three months ending March 31, 2020[45]
吉林长龙药业(08049) - 2020 Q1 - 季度财报