Workflow
双成药业(002693) - 2016 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2016 was ¥54,924,789.21, a decrease of 37.62% compared to the same period last year[21]. - The net profit attributable to shareholders was -¥19,787,022.19, representing a decline of 188.71% year-on-year[21]. - The net profit after deducting non-recurring gains and losses was -¥21,303,910.13, a decrease of 231.16% compared to the previous year[21]. - The net cash flow from operating activities was ¥3,876,853.16, down 52.56% from the same period last year[21]. - The total assets at the end of the reporting period were ¥1,454,004,602.78, a decrease of 6.20% from the end of the previous year[21]. - The net assets attributable to shareholders at the end of the reporting period were ¥914,784,594.47, down 1.38% from the previous year[21]. - The basic earnings per share were -¥0.05, a decline of 183.33% compared to the same period last year[21]. - The diluted earnings per share were also -¥0.05, reflecting the same percentage decline as basic earnings[21]. - The weighted average return on net assets was -2.16%, a decrease of 4.62% year-on-year[21]. - The company reported a total profit for the first half of 2016 was a loss of CNY 25,740,420.72, compared to a profit of CNY 24,642,376.28 in the same period last year[138]. Revenue and Sales - The company reported a revenue of ¥54,924,789.21, a decrease of 37.62% year-on-year, primarily due to declining sales volume influenced by industry policies and market competition[32]. - The company experienced a decrease in sales revenue, which fell to CNY 45,648,884.77 from CNY 81,189,543.49 in the previous year[141]. Research and Development - Research and development expenses increased by 39.99% to ¥15,909,183.38, driven by higher technical development costs and personnel expenses[32]. - The company plans to optimize its R&D strategy in response to the latest drug review and approval policies issued by the National Medical Products Administration[38]. - The company has withdrawn drug registration applications for several products after reassessing their clinical value and market prospects[34]. - The company has a strong R&D team, including nearly 10 PhDs with overseas experience, supporting rapid project advancement and international strategy implementation[43]. Investments and Capital Expenditure - The total amount of raised funds is CNY 54,961.97 million, with a cumulative investment of CNY 58,505.02 million[53]. - The company did not make any investments during the reporting period, compared to CNY 640 million in the same period last year[44]. - The company has invested CNY 96 million of surplus raised funds into its wholly-owned subsidiary, Ningbo Shuangcheng, for the research and production of anti-tumor drugs and oral solid preparations[56]. - The total investment for the new lyophilized workshop project was increased from CNY 52.6 million to CNY 70.3657 million[57]. - The cumulative investment in the existing plant renovation and new plant construction project reached CNY 183.7834 million, achieving 72.78% of the planned investment[60]. Cash Flow and Financing - The company's cash flow from operating activities decreased by 52.56% to ¥3,876,853.16, mainly due to declining revenue and increased operating expenses[32]. - The company's net cash flow from investment activities was -¥130,660,610.35, a decrease of 60.60% compared to the previous year[33]. - The cash inflow from financing activities totaled 226,000,000.00, down from 313,934,048.50 in the previous period[147]. - The net cash flow from financing activities was -3,300,597.25, a significant decline from 279,968,472.10 in the previous period[147]. Shareholder and Equity Information - The company plans to distribute cash dividends, prioritizing cash over stock dividends, and aims for a minimum of 30% of the average distributable profit over three consecutive years[101]. - The company has a profit distribution policy that mandates a minimum cash dividend ratio of 80% during mature stages without major capital expenditures[101]. - The total number of common shareholders at the end of the reporting period is 24,679[115]. - Hainan Shuangcheng Investment Co., Ltd. holds 33.28% of the shares, with 139,516,546 shares pledged[115]. Compliance and Governance - The company has not faced any penalties or rectification issues during the reporting period[103]. - The company has not reported any major litigation or arbitration matters during the reporting period[76]. - The company has not experienced any significant changes in its governance structure or compliance with regulations[75]. Assets and Liabilities - The total assets decreased from CNY 1,550,160,888.46 to CNY 1,454,004,602.78, a decline of approximately 6.2%[129]. - Total liabilities decreased from CNY 622,555,671.80 to CNY 539,220,008.31, a decrease of approximately 13.4%[130]. - Owner's equity decreased from CNY 927,605,216.66 to CNY 914,784,594.47, a decline of about 1.4%[131]. Future Outlook - The company expects a net loss of between -32 million and -28 million yuan for the first nine months of 2016, compared to a net profit of 14.976 million yuan in the same period of 2015[70]. - The company has a continuous operating capacity with no significant doubts about its ability to continue operations for the next 12 months[168].