恒瑞医药(600276) - 2023 Q1 - 季度财报

Report Overview Important Notices and Audit Status The company's management guarantees the content of this unaudited quarterly report and accepts all corresponding legal responsibilities - This quarterly financial report is unaudited[3] - The company's board of directors, supervisory committee, and senior management are legally responsible for the truthfulness, accuracy, and completeness of the report's content[3] Key Financial Data Key Accounting Data and Financial Indicators In Q1 2023, operating revenue and net profit attributable to parent company saw slight year-over-year increases, while net cash flow from operating activities grew significantly by 44.52% Key Financial Indicators for Q1 2023 | Item | Amount for the Reporting Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 5,492,320,140.43 | 0.25 | | Net Profit Attributable to Shareholders of the Listed Company | 1,239,107,494.38 | 0.17 | | Net Profit Attributable to Shareholders of the Listed Company (Excluding Non-recurring Items) | 1,220,142,401.43 | 3.40 | | Net Cash Flow from Operating Activities | 213,969,280.70 | 44.52 | | Basic Earnings Per Share (RMB/Share) | 0.19 | — | | Diluted Earnings Per Share (RMB/Share) | 0.19 | — | | Weighted Average Return on Equity (%) | 3.23 | Decrease of 0.24 percentage points | Key Balance Sheet Indicators at Period-End | Item | Amount at the End of the Reporting Period (RMB) | Amount at the End of the Previous Year (RMB) | Change from Previous Year-End (%) | | :--- | :--- | :--- | :--- | | Total Assets | 42,293,829,996.23 | 42,355,009,127.70 | -0.14 | | Equity Attributable to Shareholders of the Listed Company | 38,891,810,104.97 | 37,823,808,247.49 | 2.82 | Non-recurring Gains and Losses Non-recurring gains and losses for the period totaled RMB 18.97 million, mainly from government grants and fair value changes, offset by asset disposal losses and restructuring expenses Non-recurring Gains and Losses Items for Q1 2023 | Item | Amount for the Period (RMB) | | :--- | :--- | | Gain/Loss on Disposal of Non-current Assets | -343,664.29 | | Government Grants Included in Current Profit or Loss | 18,227,619.99 | | Business Restructuring Expenses | -7,030,933.28 | | Fair Value Changes in Trading Financial Assets and Investment Income | 30,478,163.52 | | Other Non-operating Income and Expenses | -18,055,818.69 | | Less: Income Tax Impact | 4,302,659.24 | | Less: Minority Interest Impact (After Tax) | 7,615.06 | | Total | 18,965,092.95 | Analysis of Changes in Financial Indicators Significant changes include decreases in trading financial assets and short-term borrowings, alongside substantial increases in financing receivables, treasury stock, and cash flows from investing and financing activities Changes and Reasons for Key Accounting Data and Financial Indicators | Item Name | Change (%) | Main Reason | | :--- | :--- | :--- | | Trading Financial Assets | -36.81 | Decrease in bank wealth management products and structured deposits held at the end of the period | | Financing Receivables | 98.54 | Increase in customer settlements via bank acceptance drafts and a decrease in discounting of such drafts | | Short-term Borrowings | -99.21 | Repayment of accounts receivable factoring financing at the end of the period | | Treasury Stock | 50.88 | Increase in share repurchases for the employee stock ownership plan | | Net Cash Flow from Investing Activities | 79.72 | Decrease in cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets | | Net Cash Flow from Financing Activities | 190.87 | Repayment of accounts receivable factoring financing during the period | Shareholder Information Shareholding of Common Stock Shareholders As of the period-end, the company had 585,456 common shareholders, with Jiangsu Hengrui Medicine Group and Tibet Dayuan Enterprise Management being the top two shareholders - The total number of common shareholders at the end of the reporting period was 585,456[8] Top Ten Shareholders | Shareholder Name | Shareholder Nature | Number of Shares Held (Shares) | Shareholding Ratio (%) | Share Status | Pledged, Marked, or Frozen Shares (Shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Jiangsu Hengrui Medicine Group Co, Ltd | Domestic Non-state-owned Legal Entity | 1,538,184,187 | 24.11 | None | 0 | | Tibet Dayuan Enterprise Management Co, Ltd | Domestic Non-state-owned Legal Entity | 952,752,304 | 14.94 | None | 0 | | Hong Kong Securities Clearing Company Ltd | Other | 383,954,581 | 6.02 | None | 0 | | China National Pharmaceutical Investment Co, Ltd | State-owned Legal Entity | 262,344,248 | 4.11 | None | 0 | | Qingdao Bosentai Investment Partnership (Limited Partnership) | Domestic Non-state-owned Legal Entity | 182,756,856 | 2.86 | None | 0 | | China Securities Finance Corporation Limited | Other | 95,399,822 | 1.50 | None | 0 | | Lianyungang Financial Holding Group Co, Ltd | State | 75,693,116 | 1.19 | Pledged | 58,000,000 | | ICBC - C-QUADRAT Medical Health Hybrid Securities Investment Fund | Other | 68,559,621 | 1.07 | None | 0 | | Central Huijin Asset Management Ltd | Other | 58,111,212 | 0.91 | None | 0 | | China Construction Bank - E Fund CSI 300 Health Care ETF | Other | 43,268,322 | 0.68 | None | 0 | Quarterly Financial Statements Audit Opinion Type The quarterly financial statements have not been audited - The quarterly financial statements are unaudited[10] Balance Sheet As of March 31, 2023, total assets slightly decreased to RMB 42.29 billion, while equity attributable to shareholders increased to RMB 38.89 billion, with a notable decrease in short-term borrowings Key Balance Sheet Data | Item | March 31, 2023 (RMB) | December 31, 2022 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 42,293,829,996.23 | 42,355,009,127.70 | -0.14 | | Total Liabilities | 2,819,745,940.98 | 3,941,852,984.53 | -28.47 | | Total Equity Attributable to Parent Company | 38,891,810,104.97 | 37,823,808,247.49 | 2.82 | | Total Current Liabilities | 2,536,712,807.16 | 3,639,219,602.64 | -30.29 | | Short-term Borrowings | 10,000,000.00 | 1,260,943,473.97 | -99.21 | - Financing receivables increased by 98.54% from RMB 1.95 billion to RMB 3.87 billion[11] - Treasury stock increased by 50.88% from RMB 398 million to RMB 601 million[13] Income Statement In Q1 2023, total operating revenue slightly increased by 0.25% to RMB 5.49 billion, with net profit attributable to parent company shareholders at RMB 1.24 billion Key Income Statement Data | Item | Q1 2023 (RMB) | Q1 2022 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 5,492,320,140.43 | 5,478,539,090.55 | 0.25 | | Total Operating Costs | 4,206,402,335.24 | 4,157,190,134.31 | 1.18 | | Selling Expenses | 1,669,756,898.42 | 1,758,473,121.06 | -5.04 | | R&D Expenses | 1,148,839,463.56 | 1,007,281,049.36 | 14.05 | | Total Profit | 1,324,748,660.22 | 1,365,413,121.76 | -2.98 | | Net Profit Attributable to Parent Company Shareholders | 1,239,107,494.38 | 1,236,949,171.02 | 0.17 | | Basic Earnings Per Share (RMB/Share) | 0.19 | 0.19 | 0.00 | - Net other comprehensive income after tax was -RMB 19.69 million, compared to -RMB 0.13 million in the same period last year, mainly due to foreign currency translation differences[16] Cash Flow Statement In Q1 2023, net cash flow from operating activities increased by 44.52% to RMB 214 million, while net cash flow from investing activities grew significantly by 79.72% Key Cash Flow Statement Data | Item | Q1 2023 (RMB) | Q1 2022 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 213,969,280.70 | 148,056,761.57 | 44.52 | | Net Cash Flow from Investing Activities | 659,925,067.97 | 367,196,549.66 | 79.72 | | Net Cash Flow from Financing Activities | -1,464,800,965.46 | -503,589,734.05 | -190.87 | | Net Increase in Cash and Cash Equivalents | -600,945,570.39 | 7,009,805.73 | -8673.00 | - Cash received from sales of goods and rendering of services decreased by 21.39% YoY, while cash paid for goods and services decreased by 54.60% YoY[17] - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets decreased by 45.01% YoY[18] Other Matters Other Reminders There are no other significant matters regarding the company's operations during the reporting period that require special attention from investors - No other significant matters require special attention from investors[10] Implementation of New Accounting Standards The initial adoption of new accounting standards or interpretations from 2023 did not require adjustments to the opening financial statements of the current year - The initial adoption of new accounting standards or interpretations from 2023 did not involve adjustments to the opening financial statements of the current year[19]