TRT(600085)2015-04-29 16:00Financial Performance - The company achieved a net profit attributable to shareholders of 763,669,171.31 CNY in 2014, representing a 16.41% increase compared to 656,013,728.53 CNY in 2013[4]. - Total operating revenue for 2014 was 9,685,867,522.55 CNY, an increase of 11.14% from 8,714,647,401.68 CNY in 2013[27]. - The basic earnings per share rose to 0.582 CNY, reflecting a 15.71% increase from 0.503 CNY in the previous year[26]. - The net profit after deducting non-recurring gains and losses was 745,666,418.20 CNY, which is a 17.73% increase from 633,345,695.08 CNY in 2013[27]. - The company's total revenue from domestic operations was RMB 910,580.46 million, representing an 11.22% increase year-on-year[66]. - The company achieved an operating revenue of 9.686 billion RMB in 2014, representing a year-on-year growth of 11.14%[42]. - The company reported a consolidated revenue of 13.86 billion RMB and a profit of 1.941 billion RMB for the reporting period[150]. Assets and Liabilities - The company's total assets at the end of 2014 were 12,946,675,907.79 CNY, an 8.69% increase from 11,911,900,010.52 CNY at the end of 2013[27]. - The company's total non-current assets amounted to CNY 2,434,195,853.84, up from CNY 1,914,608,922.75, reflecting a growth of approximately 27.1%[198]. - Total liabilities amounted to $4.30 billion in 2014, compared to $4.07 billion in 2013, reflecting a growth of approximately 5.4%[199]. - The company's asset-liability ratio at the end of 2014 was 33.21%, indicating a stable financial structure[144]. - Current liabilities rose to $3.21 billion in 2014, up from $2.98 billion in 2013, indicating an increase of about 7.8%[199]. Cash Flow - The net cash flow from operating activities was 696,013,987.24 CNY, showing a 2.90% increase compared to 676,398,667.36 CNY in 2013[27]. - The net cash flow from investing activities decreased, mainly due to significant investments in engineering projects during the period[55]. - The net cash flow from financing activities decreased by 149.95% year-on-year, primarily due to fundraising activities from subsidiaries in the previous period[55]. - The net increase in cash and cash equivalents decreased by 123.70% year-on-year, attributed to declines in cash flows from investing and financing activities[55]. Research and Development - R&D expenditure increased by 23.81% compared to the previous year, supporting the development of new products and enhancing market competitiveness[37]. - The company completed all clinical trials for the new drug Kunbao tablets and submitted for production approval during the reporting period[37]. - The company is conducting Phase III clinical research for the Qingnao Xuanqiao pills, a proprietary compound new drug for stroke recovery treatment[37]. - The company developed a new sterilization technology for raw powder in traditional Chinese medicine, completing the R&D of the first domestic sterilization equipment[37]. Market and Sales - The sales team completed over 100 medical bidding works and more than 200 price record filings, laying a foundation for further development in the medical market[33]. - The company established 450 retail pharmacies by the end of the reporting period, with a slight increase in profitability despite a sluggish OTC market environment[35]. - The sales of the Baijitian oligosaccharide capsules expanded to 20 provinces nationwide, demonstrating good growth through professional academic promotion[35]. - The company’s marketing strategy included a focus on product characteristics and timely adjustments to meet consumer demand, ensuring the completion of annual sales targets[33]. - The company’s sales of second and third-tier products achieved an average growth of over 10%[35]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 2.2 CNY per 10 shares to all shareholders, based on a total share capital of 1,371,470,262 shares[4]. - The company has implemented a cash dividend policy, distributing 2.0 RMB per 10 shares to shareholders during the reporting period[93]. - The company’s cash dividend payout ratio for 2013 was 39.97%, and for 2014, it was 39.51%[94]. Corporate Governance and Management - The company has a diverse board with members holding various positions in other organizations, enhancing its governance structure[159]. - The company has implemented a comprehensive governance structure to ensure effective decision-making and compliance with regulatory requirements[177]. - The management team is committed to enhancing corporate governance and ensuring compliance with regulatory requirements[162]. - The company has established independent operational capabilities and does not rely on the controlling shareholder for business operations[187]. Environmental and Social Responsibility - The company is committed to increasing environmental protection investments in line with stricter regulations, without significantly impacting its financial status[86]. - The company adheres to environmental regulations, ensuring that wastewater discharge meets standards and that air pollutants are controlled through installed desulfurization and dust removal equipment[96]. - The company has updated its environmental management systems and continues to monitor carbon emissions in compliance with local regulations[97]. Employee and Workforce - The company employed a total of 14,251 staff, with 2,525 in the parent company and 11,736 in major subsidiaries[169]. - Over 500 training sessions were organized for employees during the reporting period, enhancing internal communication and company culture[171]. - The company has a stable core technology team, with no significant changes in key technical personnel during the reporting period[168]. - The total remuneration payable to directors and supervisors during the reporting period amounted to 613.08 million yuan (before tax)[157]. Related Party Transactions - The total amount of related party transactions with Beijing Tongrentang Health Pharmaceutical Co., Ltd. was CNY 58,133.85 million, accounting for 9.74% of similar transactions[101]. - The pricing principle for raw materials is based on negotiation within the range of market prices, ensuring no higher than the average market price[101]. - All transactions were settled in cash, with no significant discrepancies reported between transaction prices and market reference prices[101].