NCPC(SH:600812)2014-04-11 16:00Financial Performance - The company reported a net profit of CNY 87,666,937.73 for 2013, with a year-end undistributed profit of CNY 836,312,928.52 after accounting for a 10% legal surplus reserve and dividends paid[6]. - Basic earnings per share decreased by 37.50% to CNY 0.010 in 2013, down from CNY 0.016 in 2012[24]. - The weighted average return on net assets fell to 0.33% in 2013, a decrease of 0.69 percentage points compared to 1.02% in 2012[24]. - The net profit attributable to shareholders decreased by 23.27% to RMB 13.66 million from RMB 17.80 million in the previous year[6]. - The company reported a significant increase in the weighted average return on net assets after excluding non-recurring gains and losses, rising by 14.26 percentage points to -2.96% in 2013[24]. - The company reported a net loss of CNY 99,566,143.26 for the year, compared to a loss of CNY 53,447,366.32 in the previous year[142]. - The company reported a comprehensive income total of ¥8,943,441.70, down from ¥14,375,013.84, a decrease of 37.8%[149]. - The company reported a net profit margin of 12%, up from 10% in the previous year[106]. Revenue and Expenses - The company's operating revenue for 2013 was RMB 12.44 billion, an increase of 11.80% compared to RMB 11.13 billion in 2012[6]. - The total operating revenue for 2013 reached ¥12,438,143,702.43, an increase of 11.8% compared to ¥11,125,706,156.35 in the previous year[148]. - The total operating costs amounted to ¥12,576,250,201.09, up from ¥11,436,925,699.41, reflecting a rise of 9.9%[148]. - The company reported a significant increase in selling expenses, amounting to RMB 630.68 million, while management expenses decreased by 24.66% to RMB 491.88 million[36]. - Research and development expenses increased by 25.38% to RMB 149.12 million, reflecting the company's commitment to innovation[36]. - The cost of goods sold amounted to CNY 11,102,335,185.02, reflecting an 11.04% increase year-over-year[38]. Strategic Initiatives - The company plans to retain profits for working capital and reinvestment, opting not to distribute dividends due to low profitability and significant funding needs for strategic adjustments[6]. - The company is undergoing a strategic adjustment period, focusing on industrial structure upgrades and construction projects, which require substantial funding[6]. - The company aims to achieve a revenue target of 15 billion yuan in 2014, focusing on quality and efficiency improvements[60]. - The company plans to optimize its product structure by shifting from raw materials to finished formulations and from low-value to high-value products[61]. - The company intends to expand its international market presence, particularly in Asia, Africa, and emerging markets, while also targeting high-end markets in Europe and the US[62]. - The company is committed to strengthening its R&D capabilities, focusing on market-oriented development and collaboration with research institutions[63]. Research and Development - The company applied for 28 patents during the year, with 15 granted, including 11 invention patents[32]. - The company achieved a significant increase in sales revenue for key products, with some growing over 50%[32]. - The company has 3,017 R&D and technical personnel, including over 30 national and provincial-level experts, enhancing its research and development capabilities[48]. - The company’s R&D expenditure totaled CNY 149,115,263.64, representing 1.20% of operating income and 3.60% of net assets[41]. - Research and development investments increased by 30%, totaling 150 million RMB, focusing on innovative drug formulations[106]. Financial Position - The total assets increased by 7.53% to RMB 14.56 billion at the end of 2013, compared to RMB 13.54 billion at the end of 2012[6]. - The total liabilities amounted to CNY 10,414,214,296.55, up from CNY 9,362,769,614.49, indicating an increase of about 11.2%[142]. - The company's cash and cash equivalents decreased to CNY 1,049,437,713.08 from CNY 1,602,993,613.07, representing a decline of approximately 34.5%[140]. - The total equity attributable to shareholders decreased to CNY 4,039,125,515.03 from CNY 4,072,222,164.60, reflecting a decline of approximately 0.8%[142]. - The total amount of other comprehensive income for the period is CNY 314,116.61, which also impacts the overall equity[164]. Governance and Compliance - The company has received a standard unqualified audit report from Zhongtianyun Accounting Firm[5]. - The company emphasizes the uncertainty of forward-looking statements regarding future plans, urging investors to be aware of investment risks[5]. - The company has established a governance structure that complies with the Company Law and relevant regulations, ensuring clear responsibilities and effective decision-making[122]. - The company has implemented an internal control system aimed at ensuring legal compliance, asset security, and the accuracy of financial reporting[132]. - The independent directors did not raise any objections to the board's proposals during the reporting period, indicating a consensus on governance matters[129]. Market and Industry Outlook - The pharmaceutical industry is expected to maintain a growth rate of over 20%, indicating a strategic opportunity period for the company despite macroeconomic challenges[57]. - The company is actively addressing risks associated with market supply and demand fluctuations, which may lead to product price volatility in the pharmaceutical sector[68]. - Future guidance indicates a projected revenue growth rate of approximately 10% for the upcoming fiscal year[102]. Shareholder Information - The total number of shareholders at the end of the reporting period was 80,501, with the top ten shareholders holding a significant portion of the shares[90]. - The largest shareholder, Hebei Zhongneng Energy Group, holds 350,000,000 shares, representing 25.39% of the total shares, with 175,000,000 shares pledged[90]. - The company has not faced any administrative penalties or public reprimands from the China Securities Regulatory Commission during the reporting period[84]. - The company has not reported any new product developments or market expansions in the current financial report[86]. Employee and Management Information - The total number of employees in the parent company is 7,013, while the main subsidiaries employ 8,437, resulting in a total of 15,450 employees[117]. - The total remuneration for all directors, supervisors, and senior management personnel from the company is 4.8836 million yuan, with an additional 347,400 yuan from shareholder units[115]. - The company has not experienced any changes in its core technical team or key technical personnel during the reporting period[116]. Risk Management - The company is committed to fulfilling social responsibilities, ensuring compliance with international standards and national regulations in employee rights protection, product quality, and environmental sustainability[70]. - The company faces macroeconomic uncertainties and structural overcapacity in the pharmaceutical manufacturing industry, which may impact its strategic development and operational goals[68].