CR Double-Crane(SH:600062)2014-03-11 16:00Financial Performance - The company achieved operating revenue of CNY 6.83 billion in 2013, a decrease of 2.21% compared to 2012[25]. - Net profit attributable to shareholders reached CNY 870.69 million, an increase of 41.71% year-on-year[25]. - The basic earnings per share rose to CNY 1.523, reflecting a growth of 41.71% compared to the previous year[26]. - The total operating revenue was CNY 6,770,993,684.16, reflecting a decrease of 2.05% year-on-year[44]. - The company reported a significant increase in unallocated profits, which stood at 1,668,060,815.98 RMB at year-end, compared to 1,347,453,476.51 RMB in the previous year[171]. - The net profit for the year was 760,530,379.61 RMB, contributing to an increase in total equity to 4,345,736,066.94 RMB by year-end[169]. - The company's net profit for Anhui Shuanghe increased by 105.13% compared to the previous year, primarily due to expanded sales and increased market share[49]. - The net profit for WanHui Shuanghe surged by 287.64% year-on-year, attributed to a focus on marketing management and academic promotion in high-end hospitals[51]. Cash Flow and Investments - The company generated a net cash flow from operating activities of CNY 546.24 million, up 37.92% from 2012[33]. - The cash inflow from the disposal of fixed assets increased by 853% to CNY 118,960,000, primarily due to the sale of properties[38]. - The company's cash flow from investment activities turned positive at CNY 98.87 million, a significant recovery from a negative CNY 208.27 million in 2012[33]. - The cash and cash equivalents at the end of the period amounted to CNY 1,410,017,796.46, representing 21.76% of total assets, an increase from 15.44% at the beginning of the period[46]. - The cash flow from operating activities generated a net amount of ¥448,512,798.52, an increase from ¥423,167,027.10 in the previous period[161]. - The cash and cash equivalents at the end of the period reached ¥1,270,888,131.67, up from ¥716,774,640.42[163]. - The cash inflow from financing activities totaled 371,522,547.44 RMB, while cash outflow was 482,218,269.09 RMB, leading to a net cash outflow from financing activities[166]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of 3.42 RMB per 10 shares, totaling 195,520,014.22 RMB, based on a total share capital of 571,695,948 shares as of the end of 2013[7]. - In 2013, the company achieved a cash dividend of CNY 3.42 per share, with a net profit attributable to shareholders of CNY 870.69 million, representing 22.46% of the net profit[64]. - The remaining undistributed profit amounts to 2,048,413,390.12 RMB, which will be carried forward for future distribution[7]. Business Operations and Strategy - The company has maintained its main business in pharmaceutical manufacturing and sales since its listing in 1997[19]. - The company has focused on four major fields: cardiovascular, infusion, endocrinology, and pediatrics, enhancing management and operational efficiency[39]. - The company is committed to developing 25 strategic key products across its main therapeutic areas, enhancing its competitive edge in the market[46]. - The company aims for a growth of no less than 15% in both main business revenue and net profit for 2014[57]. - The company is actively pursuing internal resource integration to maximize enterprise value through enhanced collaboration[58]. - The company has established a quality management system and implemented lean management to enhance product quality and operational efficiency[47]. Research and Development - Research and development expenses increased by 13.98% to CNY 93.46 million, indicating a focus on innovation[33]. - The total R&D expenditure for the period was CNY 93,457,307.12, with a year-on-year increase of 13.98%, representing 1.37% of the operating revenue[36]. - Investment in R&D increased by 20%, focusing on innovative drug development and new technologies[107]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report[7]. - The company has implemented a risk management report for 2013, detailing major risks and corresponding countermeasures[122]. - The company has maintained compliance with governance requirements, with no unresolved governance issues reported[123]. - The company reported no penalties or administrative actions from regulatory bodies against its executives or major shareholders[79]. Shareholder Structure and Governance - The company’s controlling shareholder has not changed during the reporting period, with North Pharmaceutical Group holding 53.55% of the shares[21]. - The total number of shares remained unchanged at 571,695,948, with no issuance of new shares during the reporting period[82]. - The company has zero outsourced labor hours and payments for outsourced labor during the reporting period[119]. - The company held its annual general meeting on May 31, 2013, where several key reports and proposals were approved, including the 2012 financial results and profit distribution plan[126]. Audit and Financial Reporting - The company received a standard unqualified audit report from Lixin Certified Public Accountants[6]. - The company’s financial report is confirmed to be true, accurate, and complete by its management[6]. - The financial report for the year was audited by Lixin Certified Public Accountants, who issued a standard unqualified opinion[142].