第一医药(600833) - 2013 Q4 - 年度财报

Financial Performance - In 2013, the company achieved a net profit of CNY 36,148,041.14 after deducting a 10% statutory surplus reserve, resulting in a distributable profit of CNY 32,533,237.03[4] - The total revenue for 2013 was CNY 1,348,394,808.05, a decrease of 0.68% compared to CNY 1,357,670,359.70 in 2012[22] - The net profit attributable to shareholders decreased by 5.95% to CNY 34,266,800.99 from CNY 36,434,338.12 in the previous year[22] - The net cash flow from operating activities significantly dropped by 88.41% to CNY 6,519,981.05 compared to CNY 56,248,128.42 in 2012[22] - The basic earnings per share decreased by 6.25% to CNY 0.15 in 2013, down from CNY 0.16 in 2012[23] - Operating profit decreased by 19.49% to RMB 41.60 million, and net profit attributable to the parent company decreased by 5.95% to RMB 34.27 million[29] - The company reported a net gain of 5.44 million RMB from related transactions in the current reporting period, primarily from the disposal of certain properties[71] Assets and Liabilities - The company's total assets increased by 2.68% to CNY 916,162,637.84 at the end of 2013, up from CNY 892,267,792.83 at the end of 2012[22] - The net assets attributable to shareholders rose by 7.36% to CNY 529,129,476.08 from CNY 492,834,840.09 in 2012[22] - Total liabilities decreased from CNY 392,425,636.85 at the beginning of the year to CNY 380,025,845.87 by year-end, a reduction of approximately 3.6%[112] - Current liabilities totaled CNY 319,664,221.00 at year-end, down from CNY 336,079,029.99, reflecting a decrease of about 4.9%[112] Cash Flow - The investment activities generated a net cash flow of -CNY 3,677,073.37, an improvement of 92.84% from -CNY 51,372,388.36 in the previous year[44] - Cash and cash equivalents decreased to RMB 155,432,369.74 from RMB 163,741,286.79, a decline of about 5.9%[111] - The net cash flow from operating activities for the current period is ¥17,165,413.68, a decrease of 16.9% compared to ¥20,418,150.68 in the previous period[125] Dividends and Profit Distribution - The company proposed a cash dividend of CNY 0.50 per 10 shares, totaling CNY 11,154,317.35, which represents 32.55% of the net profit attributable to shareholders[4] - The company distributed a cash dividend of 0.50 RMB per 10 shares, totaling 11,154,317.35 RMB for the year 2012, with a payout ratio of 32.55% of the net profit attributable to shareholders[62] - The company plans to maintain a stable profit distribution policy, ensuring that cash dividends do not exceed accumulated undistributed profits and do not harm the company's ongoing operational capacity[60] Market and Competition - The company faces intensified competition from both internal and external sources, with traditional drug distribution methods challenged by modern logistics and socialized operations[57] - The company has established a significant presence in Shanghai's healthcare market, with a considerable share of the city's medical insurance designated pharmacies[58] - The industry trend indicates a shift towards increased mergers and acquisitions, enhancing market concentration and scale in the pharmaceutical sector[56] Investments and Subsidiaries - The company has invested CNY 12,000,000 in Shanghai First Pharmaceutical Store Chain Co., Ltd., holding a 100% stake[193] - The company has invested CNY 2,000,000 in Shanghai Changcheng Huamei Instrument Chemical Co., Ltd., also holding a 100% stake[194] - The company has a strategic focus on expanding its market presence through acquisitions and partnerships in the pharmaceutical sector[196] Human Resources - The company employed a total of 1,127 staff, with 325 in the parent company and 802 in major subsidiaries[86] - The workforce included 771 sales personnel, 158 technical staff, 41 financial staff, and 157 administrative personnel[86] - The company implemented a comprehensive training program in 2013 aimed at enhancing the overall quality of its human resources, focusing on internal control management and employee execution capabilities[87] Internal Control and Compliance - The company maintained effective financial reporting internal controls throughout 2013, as confirmed by the board of directors[102] - The company established a comprehensive internal control system, with no significant defects identified in design or execution as of the reporting period end[102] - The independent audit of the internal control effectiveness for 2013 was conducted by Lixin Accounting Firm, resulting in a standard unqualified opinion[105] Accounting Policies and Financial Reporting - The company adheres to the accounting standards set by the Ministry of Finance, ensuring transparency and accuracy in financial reporting[134] - The company has not made any changes to its major accounting policies or estimates during the reporting period[190] - The company recognizes revenue from the sale of goods when the significant risks and rewards of ownership have been transferred to the buyer[186]