Shenqi(SH:600613)2015-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2015 was approximately RMB 634.32 million, representing a 15.99% increase compared to RMB 546.85 million in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2015 was approximately RMB 94.27 million, an increase of 7.42% from RMB 87.76 million in the previous year[18]. - The total profit reached CNY 112.31 million, reflecting a growth of 7.79% compared to the previous year[26]. - Net profit attributable to shareholders was CNY 94.27 million, up 7.42% year-on-year[26]. - The net profit after deducting non-recurring gains and losses was approximately RMB 91.27 million, an increase of 3.70% from RMB 88.01 million in the previous year[18]. - The basic and diluted earnings per share for the first half of 2015 were both RMB 0.21, reflecting a 5.00% increase from RMB 0.20 in the same period last year[18]. - The weighted average return on net assets for the first half of 2015 was 4.68%, a decrease of 0.13 percentage points compared to the previous year[19]. Cash Flow - The net cash flow from operating activities increased by 298.82%, reaching approximately RMB 62.44 million, primarily due to a 24.4% increase in sales collections compared to the previous year[20]. - The net cash flow from operating activities for the first half of 2015 was ¥62,438,212.13, compared to a negative cash flow of ¥31,404,071.96 in the same period last year, indicating a significant improvement[95]. - The total cash inflow from operating activities was ¥730,398,844.49, compared to ¥559,429,454.44 in the previous year, marking an increase of approximately 30.5%[95]. Assets and Liabilities - The total assets at the end of the reporting period were approximately RMB 2.64 billion, a 17.17% increase from RMB 2.25 billion at the end of the previous year[18]. - The total liabilities at the end of the period were 1,058,390, indicating a manageable debt level relative to equity[104]. - The total current assets as of June 30, 2015, amounted to RMB 1,594,599,745.29, an increase from RMB 1,389,034,083.94 at the beginning of the period, reflecting a growth of approximately 14.8%[81]. - The total equity attributable to shareholders increased to CNY 2,207,927,524.45 from CNY 1,965,915,438.04, reflecting a growth of approximately 12.3%[83]. - The company's total liabilities amounted to CNY 376,888,057.68, up from CNY 255,595,741.16, which is an increase of about 47.4%[82]. Revenue Breakdown - OTC product revenue was CNY 180.31 million, a 4.38% increase year-on-year, while prescription drug revenue rose by 21.36% to CNY 454.01 million[36]. - Revenue from the Northeast region increased by CNY 13,292,300, a growth of 31.14%, attributed to improved sales of OTC products[38]. - The East China region saw a significant revenue increase of CNY 82,496,500, with a growth rate of 77%, driven by higher sales of both OTC and prescription drugs[38]. - The Southwest region's revenue rose by CNY 22,667,600, marking a growth of 28.69%, also due to increased sales of OTC and prescription products[38]. - The North China region experienced a revenue decline of CNY 6,253,800, a decrease of 5.35%, primarily due to a drop in OTC product sales[38]. Investment and Subsidiaries - The company reported a net profit of 1.91 million CNY from its subsidiary, Jinqiao Pharmaceutical, with total revenue of 12.92 million CNY for the first half of 2015[52]. - The subsidiary, Shenqi Pharmaceutical, achieved a net profit of 3.00 million CNY and total revenue of 16.46 million CNY during the same period[52]. - Baqiang Pharmaceutical, another subsidiary, reported a net profit of 4.94 million CNY with total revenue of 33.75 million CNY in the first half of 2015[53]. - The company established a new subsidiary, Guangdong Shenqi Pharmaceutical Co., Ltd., with an investment of 9 million CNY, which generated a revenue of 448.52 thousand CNY in June 2015[53]. Shareholder Information - The total share capital increased from 445,059,690 shares to 534,071,628 shares after the profit distribution and capital increase implementation[70]. - The largest shareholder, Guizhou Magic Investment Co., Ltd., held 24.5% of the shares, totaling 109,418,017 shares[73]. - The total number of shareholders reached 29,721 by the end of the reporting period[72]. Compliance and Governance - The company maintained compliance with the Company Law and relevant regulations, enhancing its internal control system[66]. - No changes occurred in the accounting policies or estimates during the reporting period[68]. - The company has confirmed that there are no issues with its ability to continue as a going concern during the reporting period[116]. Research and Development - Research and development expenses decreased by 10.78% to CNY 11.47 million, indicating a focus on cost management[30]. - During the reporting period, the company added 3 new invention patents and 4 design patents[39]. Inventory Management - The ending balance of inventory reached CNY 207,775,831.90, an increase from the beginning balance of CNY 151,130,188.61, reflecting a growth of approximately 37.4%[192]. - The total impairment provision for inventory remained stable at CNY 387,224.96, with no new provisions or reversals recorded during the period[194]. Taxation - The company’s subsidiaries benefit from a reduced corporate income tax rate of 15% under specific tax incentive policies, while the parent company is subject to a 25% tax rate[168].