NPC(SH:600713)2023-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2023 reached ¥27,343,124,491.26, representing a 14.21% increase compared to ¥23,940,993,596.60 in the same period last year[19]. - The total profit for the period was ¥521,521,181.46, up 13.01% from ¥461,468,360.84 in the previous year[19]. - The net profit attributable to shareholders decreased by 7.38% to ¥308,641,881.41 from ¥333,218,365.52 year-on-year[19]. - The net cash flow from operating activities was negative at -¥2,721,066,361.61, compared to -¥2,390,346,586.26 in the previous year[19]. - Basic earnings per share decreased by 14.13% to ¥0.237 from ¥0.276 in the same period last year[20]. - The weighted average return on net assets fell to 5.007% from 6.149%, a decrease of 1.142 percentage points[20]. - The company's operating revenue increased by 14.21% to CNY 27,343.12 million, while operating costs rose by 14.84% to CNY 25,706.23 million[49]. - The net profit after deducting non-recurring gains and losses for the first half of 2023 was approximately ¥300 million, a decrease of 7.38% compared to the same period last year[140]. - The total comprehensive income for the first half of 2023 was ¥114,066,198.01, down from ¥162,690,412.98 in the same period last year[152]. Assets and Liabilities - The total assets of the company increased by 5.44% to ¥33,371,894,066.38 from ¥31,650,959,639.82 at the end of the previous year[19]. - The total liabilities reached ¥26.43 billion, up from ¥24.96 billion at the end of the previous year[145]. - The company's total equity increased to approximately ¥6.94 billion from ¥6.69 billion at the end of the previous year[145]. - The debt-to-asset ratio was 79.20%, slightly up from 78.85% at the end of the previous year[140]. - The current ratio improved to 1.37, up 4.58% from 1.31 at the end of the previous year[140]. - Short-term borrowings increased significantly to ¥4.30 billion from ¥1.80 billion at the end of the previous year[145]. - The company's total liabilities as of June 30, 2023, were ¥14.60 billion, an increase from ¥12.86 billion at the end of 2022, representing a growth of 13.5%[147]. Cash Flow - The cash flow from operating activities showed a net outflow of ¥2,721,066,361.61, compared to a net outflow of ¥2,390,346,586.26 in the first half of 2022[155]. - Cash and cash equivalents decreased to approximately ¥2.01 billion from ¥2.33 billion at the end of 2022[144]. - The company raised ¥12,326,769,660.05 in borrowings during the first half of 2023, compared to ¥12,557,214,316.64 in the same period of 2022[155]. - The company’s investment activities resulted in a net cash outflow of ¥46,203,076.68 in the first half of 2023, contrasting with a net inflow of ¥1,566,033.68 in the same period of 2022[155]. Business Operations - The company operates 604 retail stores, including 11 regional brand chain institutions[30]. - The company is focusing on digitalization and modern supply chain system construction to enhance operational efficiency[26]. - The company is expanding its business into "Internet+" healthcare services and third-party logistics[27]. - The company aims to strengthen its core competitiveness while adapting to external environmental changes[26]. - The company is exploring multi-modal pharmaceutical retail business and enhancing pharmacy service levels[30]. - The company operates 163 specialized pharmacies, expanding its DTP pharmacy business and enhancing resource collaboration in the prescription market[31]. Research and Development - Research and development expenses increased by 32.68% to CNY 17.90 million, reflecting a commitment to enhancing information technology development[49]. - The company introduced 35 new drug varieties over the past three years, achieving a new drug sales growth of 635.06% with a new drug introduction rate of 86.18%[45]. - The company incurred research and development expenses of ¥5,171,698.11 in the first half of 2023, up from ¥3,732,279.28 in the previous year, reflecting a focus on innovation[152]. Risk Management - There were no significant risk events reported during the period, and the company has outlined potential risks in the management discussion section[6]. - The company is facing risks from prolonged payment terms from public medical institutions, which may affect cash flow efficiency[72]. - The company has established a comprehensive risk management framework to support its operational and strategic objectives[79]. Corporate Governance - The company aims to enhance its governance structure and market-oriented mechanisms as part of its "first-class enterprise" initiative from 2022 to 2025[43]. - A new internal audit management system was established to enhance risk control and internal supervision, approved by the board in early 2023[79]. - The company is focusing on strengthening its internal audit system and has revised its internal audit regulations to ensure compliance and effectiveness[79]. Shareholder Information - The total number of ordinary shareholders reached 58,523 by the end of the reporting period[125]. - The largest shareholder, Nanjing New Industry Investment Group, holds 44.13% of the shares, totaling 578,207,286 shares[127]. - The company completed the repurchase and cancellation of 84,000 restricted shares under the 2021 incentive plan, reducing the total share capital to 1,310,231,012 shares[121]. Financing Activities - The company plans to issue convertible bonds to raise up to CNY 1,081.49 million for digital transformation and logistics projects, enhancing core competitiveness[43]. - Nanjing Pharmaceutical Co., Ltd. issued a total of 500 million yuan in short-term financing bonds with interest rates ranging from 2.27% to 2.77% across different tranches[136]. - The total bond issuance for the year 2023 is projected to reach 4 billion yuan, aimed at supporting operational and expansion activities[136]. Market Position - The company ranks sixth in the domestic pharmaceutical circulation industry in terms of business scale as of 2022[27]. - The total sales of the national pharmaceutical circulation market reached 2,751.6 billion yuan, with a year-on-year growth of 6.0%, a slowdown of 2.5 percentage points[25]. - The retail market sales amounted to 599.0 billion yuan, with a year-on-year growth of 10.7%, accelerating by 3.3 percentage points[26].