ST康美(600518) - 2022 Q1 - 季度财报

Important Reminders The company's board and management guarantee the report's accuracy, with this quarter's financial statements being unaudited - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, with no false records, misleading statements, or major omissions[3] - This quarter's financial statements are unaudited[3] Key Financial Data This section presents the company's primary financial performance and position indicators for the reporting period Key Accounting Data and Financial Indicators Kangmei Pharmaceutical's Q1 2022 operating revenue decreased by 14.15%, with a net loss of CNY 111 million and a 321.94% drop in net cash flow from operating activities 2022 Q1 Key Accounting Data and Financial Indicators | Item | Amount for Current Period (CNY) | Change from Same Period Last Year (%) | | :--- | :--- | :--- | | Operating Revenue | 933,848,192.84 | -14.15 | | Net Profit Attributable to Shareholders of Listed Company | -111,422,065.03 | N/A | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains and Losses) | -121,493,079.02 | N/A | | Net Cash Flow from Operating Activities | -199,492,837.60 | -321.94 | | Basic Earnings Per Share (CNY/share) | -0.008 | N/A | | Diluted Earnings Per Share (CNY/share) | -0.008 | N/A | | Weighted Average Return on Net Assets (%) | -1.12 | N/A | 2022 Q1 End Asset and Liability Indicators | Item | Amount at End of Current Period (CNY) | Amount at End of Last Fiscal Year (CNY) | Change from End of Last Fiscal Year (%) | | :--- | :--- | :--- | :--- | | Total Assets | 15,919,718,524.85 | 16,054,259,253.19 | -0.84 | | Total Equity Attributable to Shareholders of Listed Company | 9,815,132,953.43 | 9,926,555,018.46 | -1.12 | Non-recurring Gains and Losses and Amounts This period's total non-recurring gains and losses amounted to CNY 10.07 million, primarily from government grants, non-current asset disposals, and debt restructuring 2022 Q1 Non-recurring Gains and Losses and Amounts | Item | Amount for Current Period (CNY) | Explanation | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 322,130.28 | 处置非流动资产 | | Government Grants Included in Current Period's Profit/Loss | 9,204,297.03 | 政府补助 | | Debt Restructuring Gains/Losses | 338,334.48 | | | Other Non-operating Income and Expenses Apart from the Above | 803,735.73 | | | Less: Income Tax Impact | 13,308.25 | | | Impact on Minority Interests (After Tax) | 584,175.28 | | | Total | 10,071,013.99 | | Changes and Reasons for Key Accounting Data and Financial Indicators Significant changes include a 235.24% increase in trading financial assets, an 88.46% decrease in notes receivable financing, and a 101.42% drop in financial expenses due to debt reduction Changes in Key Accounting Data and Financial Indicators | No. | Item Name | Amount at Period-end/Current Period (CNY) | Amount at Period-start/Last Period (CNY) | Change Percentage (%) | Primary Reason | | :--- | :--- | :--- | :--- | :--- | :--- | | 1 | Trading Financial Assets | 1,757,632.04 | 524,298.00 | 235.24% | Due to increase in trading financial assets | | 2 | Notes Receivable Financing | 4,251,281.82 | 36,823,883.67 | -88.46% | Decrease in customer bank acceptance bills received for supplier payments compared to same period last year | | 4 | Selling Expenses | 87,599,302.51 | 130,637,893.75 | -32.94% | Strengthened management led to a year-on-year decrease in variable expenses such as sales service fees and office expenses; depreciation and amortization also decreased year-on-year | | 5 | Financial Expenses | -7,088,193.40 | 498,291,322.52 | -101.42% | Significant reduction in interest-bearing debt after bankruptcy reorganization | | 6 | Credit Impairment Losses | -13,288,230.63 | 4,534,070.07 | 393.08% | Due to impairment provision for receivables | | 9 | Non-operating Expenses | 640,382.50 | 160,282.22 | 299.53% | Due to payment of lease termination penalties | | 11 | Net Cash Flow from Operating Activities | -199,492,837.60 | 89,885,237.79 | -321.94% | Due to decrease in cash received from sales of goods in current period compared to same period last year | | 12 | Net Cash Flow from Investing Activities | -1,171,394.16 | -60,754,045.09 | -98.07% | Due to reduced investment in long-term assets in current period | | 13 | Net Cash Flow from Financing Activities | -10,456,437.26 | 55,453,944.01 | -118.86% | Due to subsidiary borrowing from related parties in same period last year | Shareholder Information This section details the total number of ordinary and preferred shareholders, along with the top ten shareholders' holdings Total Number of Ordinary Shareholders and Top Ten Shareholders' Holdings As of the reporting period end, the company had 185,550 ordinary shareholders, with Guangdong Shennongshi holding 25.31% as the largest shareholder - The total number of ordinary shareholders at the end of the reporting period was 185,550[10] Top Ten Ordinary Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Percentage (%) | Share Status | Pledged, Marked, or Frozen Shares (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Guangdong Shennongshi Enterprise Management Partnership (Limited Partnership) | Other | 3,509,413,788 | 25.31 | Unknown | - | | Kangmei Industrial Investment Holding Co., Ltd. | Domestic Non-state-owned Legal Person | 1,263,328,032 | 9.11 | Pledged | 1,263,328,032 | | Kangmei Pharmaceutical Co., Ltd. Bankruptcy Enterprise Property Disposal Special Account | Other | 1,023,686,349 | 7.38 | Unknown | - | Total Number of Preferred Shareholders and Top Ten Preferred Shareholders' Holdings The company had 8 preferred shareholders, with Boshi Fund, Huashang Fund, and BOCOM Schroders Asset Management as the top three, holding 30%, 20%, and 20% respectively - The total number of preferred shareholders at the end of the reporting period was 8[12] Top Ten Preferred Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Percentage (%) | | :--- | :--- | :--- | :--- | | Boshi Fund - ICBC - Boshi - ICBC - Flexible Allocation No. 5 Specific Multi-Client Asset Management Plan | Other | 9,000,000 | 30.00 | | Huashang Fund - PSBC - Postal Savings Bank of China Co., Ltd. | Other | 6,000,000 | 20.00 | | BOCOM Schroders Asset Management - Bank of Communications - Bank of Communications Co., Ltd. | Other | 6,000,000 | 20.00 | - The company has approved the redemption of preferred shares and has settled them as ordinary claims, with coordination ongoing for preferred share cancellation[13] Other Reminders No other significant information regarding the company's operating performance during the reporting period requires investor attention - There is no other important information regarding the company's operating performance during the reporting period that requires investors' attention[14] Quarterly Financial Statements This section presents the unaudited quarterly financial statements, including balance sheets, income statements, and cash flow statements Type of Audit Opinion The financial statements for this quarter have not been audited - This quarter's financial statements are unaudited[14] Financial Statements This section includes the company's consolidated and parent company balance sheets, income statements, and cash flow statements for Q1 2022 Consolidated Balance Sheet As of March 31, 2022, the company's consolidated total assets were CNY 15.92 billion, a slight decrease of 0.84% from the end of last year Consolidated Balance Sheet Key Data (March 31, 2022 vs December 31, 2021) | Item | March 31, 2022 (CNY) | December 31, 2021 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 15,919,718,524.85 | 16,054,259,253.19 | -0.84 | | Total Current Assets | 8,232,663,490.84 | 8,284,793,366.93 | -0.63 | | Total Non-current Assets | 7,687,055,034.01 | 7,769,465,886.26 | -1.06 | | Total Liabilities | 6,062,801,278.75 | 6,085,784,787.38 | -0.38 | | Total Owners' Equity | 9,856,917,246.10 | 9,968,474,465.81 | -1.12 | - Cash and cash equivalents decreased from CNY 2.419 billion to CNY 2.188 billion[15] - Accounts receivable increased from CNY 1.357 billion to CNY 1.552 billion[16] Consolidated Income Statement In Q1 2022, consolidated operating revenue was CNY 934 million, down 14.15% year-on-year, with net loss narrowing significantly to CNY 112 million Consolidated Income Statement Key Data (Q1 2022 vs Q1 2021) | Item | Q1 2022 (CNY) | Q1 2021 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 933,848,192.84 | 1,087,761,605.96 | -14.15 | | Total Operating Costs | 1,044,554,905.16 | 1,707,361,995.39 | -38.82 | | Financial Expenses | -7,088,193.40 | 498,291,322.52 | -101.42 | | Net Profit | -111,557,219.71 | -596,824,311.74 | 81.37 (Loss narrowed) | | Net Profit Attributable to Parent Company Shareholders | -111,422,065.03 | -595,231,251.64 | 81.29 (Loss narrowed) | | Basic Earnings Per Share (CNY/share) | -0.008 | -0.121 | 93.40 (Loss narrowed) | - Selling expenses decreased by 32.94% year-on-year, and administrative expenses decreased by 21.23% year-on-year[19] Consolidated Cash Flow Statement In Q1 2022, net cash flow from operating activities turned negative to CNY 199 million, a significant decrease from the prior year's positive flow Consolidated Cash Flow Statement Key Data (Q1 2022 vs Q1 2021) | Item | Q1 2022 (CNY) | Q1 2021 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -199,492,837.60 | 89,885,237.79 | -321.94 | | Net Cash Flow from Investing Activities | -1,171,394.16 | -60,754,045.09 | 98.07 (Outflow decreased) | | Net Cash Flow from Financing Activities | -10,456,437.26 | 55,453,944.01 | -118.86 | | Net Increase in Cash and Cash Equivalents | -211,120,669.02 | 84,595,092.28 | -349.04 | - Cash received from sales of goods and provision of services decreased by 44.79% year-on-year[22] Parent Company Balance Sheet As of March 31, 2022, the parent company's total assets were CNY 18.59 billion, a slight decrease of 0.40% from the end of last year Parent Company Balance Sheet Key Data (March 31, 2022 vs December 31, 2021) | Item | March 31, 2022 (CNY) | December 31, 2021 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 18,591,209,766.15 | 18,664,989,290.86 | -0.40 | | Total Current Assets | 13,392,091,061.83 | 13,435,043,229.49 | -0.32 | | Total Non-current Assets | 5,199,118,704.32 | 5,229,946,061.37 | -0.59 | | Total Liabilities | 4,288,004,984.18 | 4,326,282,568.36 | -0.88 | | Total Owners' Equity | 14,303,204,781.97 | 14,338,706,722.50 | -0.25 | - Parent company cash and cash equivalents decreased from CNY 2.096 billion to CNY 1.869 billion[23] - Parent company accounts receivable increased from CNY 1.059 billion to CNY 1.216 billion[24] Parent Company Income Statement In Q1 2022, parent company operating revenue was CNY 406 million, down 30.90% year-on-year, with net loss narrowing significantly to CNY 35.5 million Parent Company Income Statement Key Data (Q1 2022 vs Q1 2021) | Item | Q1 2022 (CNY) | Q1 2021 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 405,884,780.50 | 587,311,913.47 | -30.90 | | Operating Costs | 341,499,762.75 | 447,906,497.83 | -23.87 | | Financial Expenses | -7,929,998.25 | 494,524,312.00 | -101.60 | | Net Profit | -35,501,940.53 | -481,643,716.31 | 92.63 (Loss narrowed) | | Basic Earnings Per Share (CNY/share) | -0.003 | -0.098 | 96.94 (Loss narrowed) | - Parent company selling expenses decreased by 13.12% year-on-year, and administrative expenses decreased by 17.28% year-on-year[26] Parent Company Cash Flow Statement In Q1 2022, parent company net cash flow from operating activities turned negative to CNY 218 million, a significant decrease from the prior year's positive flow Parent Company Cash Flow Statement Key Data (Q1 2022 vs Q1 2021) | Item | Q1 2022 (CNY) | Q1 2021 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -218,081,164.50 | 20,825,455.67 | -1147.00 | | Net Cash Flow from Investing Activities | -798,867.26 | -177,928.78 | -348.99 | | Net Cash Flow from Financing Activities | -8,320,669.28 | -8,882,064.44 | 6.32 (Outflow decreased) | | Net Increase in Cash and Cash Equivalents | -227,200,701.04 | 11,765,462.45 | -2031.60 | - Parent company cash received from sales of goods and provision of services decreased by 45.39% year-on-year[28] Other Information This section notes that new accounting standards were first implemented in 2022 without restating prior year-end financial statements - New accounting standards were first implemented in 2022 without restating the financial statements at the beginning of that year[29] - This quarterly report was published on April 27, 2022[29]