嘉应制药(002198) - 2019 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2019 was ¥87,770,964.01, a decrease of 6.06% compared to ¥93,430,702.81 in the same period last year[8]. - Net profit attributable to shareholders was ¥8,477,275.40, showing a slight increase of 0.24% from ¥8,456,582.31 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was ¥7,082,502.79, down 14.85% from ¥8,317,203.89 in the previous year[8]. - Total operating revenue decreased to ¥87,770,964.01 from ¥93,430,702.81, representing a decline of approximately 6.1% year-over-year[41]. - Total operating costs decreased to ¥79,157,640.29 from ¥84,756,939.97, a reduction of about 6.3% year-over-year[41]. - Operating profit decreased to ¥8,724,690.86 from ¥9,273,985.49, reflecting a decline of approximately 5.9% year-over-year[43]. - Net profit increased slightly to ¥8,477,275.40 from ¥8,456,582.31, showing a marginal increase of about 0.2% year-over-year[44]. - Earnings per share remained stable at ¥0.0167 for both periods[44]. - Investment income from joint ventures decreased significantly to ¥109,606.17 from ¥601,021.82, a decline of approximately 81.8% year-over-year[41]. - Tax expenses increased to ¥2,105,351.31 from ¥1,004,040.24, reflecting an increase of about 109.5% year-over-year[43]. - Other income increased significantly to ¥1,858,024.61 from ¥186,637.06, an increase of approximately 895.5% year-over-year[43]. Cash Flow and Assets - The net cash flow from operating activities was -¥28,848,233.85, a significant decline of 330.68% compared to -¥6,698,245.46 in the same period last year[8]. - Cash inflow from operating activities was 131,291,044.45 CNY, while cash outflow was 160,139,278.30 CNY, resulting in a net cash flow deficit[51]. - The ending balance of cash and cash equivalents was 45,935,340.79 CNY, down from 54,735,499.90 CNY in the previous period[52]. - The company’s cash and cash equivalents decreased by 69,012,709.03 CNY during the period, compared to a decrease of 27,230,377.95 CNY previously[52]. - Accounts receivable decreased to ¥162,074,209.70 from ¥197,412,917.09, indicating a reduction of about 18%[32]. - Inventory increased to ¥78,835,311.04 from ¥71,707,150.09, reflecting an increase of approximately 10%[32]. - Total assets at the end of the reporting period were ¥880,252,742.99, a decrease of 1.05% from ¥889,559,036.66 at the end of the previous year[8]. - Current liabilities decreased from CNY 69,164,004.03 to CNY 51,388,759.57, a reduction of about 25.7%[34]. - Non-current assets increased from CNY 485,081,164.60 to CNY 516,936,606.36, an increase of approximately 6.5%[33]. - Total liabilities decreased from CNY 104,206,865.44 to CNY 86,423,296.37, a reduction of approximately 17.0%[34]. - Owner's equity increased from CNY 785,352,171.22 to CNY 793,829,446.62, an increase of about 1.8%[35]. Investments and Shareholder Actions - The company made investments of ¥36 million in Guangdong Jiahui Financing Leasing Co., Ltd. and ¥3 million in Guangdong Kangci Medical Management Co., Ltd. during the reporting period[15]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[12]. - Financial expenses decreased by 374,900 yuan, a decline of 62.32%, mainly due to reduced bank loan interest payments compared to the same period last year[16]. - Cash paid for investments increased by 39,000,000 yuan, primarily due to a capital contribution of 36,000,000 yuan to Guangdong Jiahui Financing Leasing Co., Ltd. and an equity investment of 3,000,000 yuan in Guangdong Kangci Medical Management Co., Ltd.[16]. - The company committed to distributing at least 10% of the annual distributable profit in cash dividends, with a cumulative cash distribution of no less than 30% of the average annual distributable profit over three consecutive years[25]. - The company plans to implement a cash dividend policy based on its development stage, with a minimum cash dividend ratio of 80% for mature stages without major capital expenditures[25]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[27]. Corporate Governance and Compliance - The company reported a commitment to avoid any actions that may harm the interests of minority shareholders[22]. - The company has pledged to reasonably plan the business development direction to avoid substantial competition with its controlled enterprises[22]. - The company confirmed that it does not currently engage in any business that competes with its main operations[22]. - The company has established legal commitments to ensure fair transactions and protect the interests of its subsidiaries[23]. - The company has committed to not using its shareholder position to manipulate or influence the operations of its subsidiaries unfairly[23]. - The company will ensure that any unavoidable transactions will adhere to principles of equality, voluntariness, and fairness[23]. - The company has stated that it will not engage in any business activities that could be seen as competitive with its subsidiaries during the shareholder period[23]. - The company has emphasized the importance of maintaining the legal rights and interests of its subsidiaries through proper agreements and disclosures[23]. - The company has committed to ensuring that transaction prices are determined fairly, especially in dealings with unrelated third parties[23]. - The company has pledged not to illegally transfer funds or profits from its subsidiaries through transactions[23]. Other Financial Metrics - The company reported a net loss of CNY 116,612,739.32, compared to a loss of CNY 114,021,669.45 in the previous period[40]. - Cash paid for debt repayment decreased by 18,000,000 yuan, a decline of 64.29%, mainly due to reduced bank loan repayments during the period[17]. - The company incurred 21,643,420.87 CNY in cash payments for goods and services, slightly up from 21,400,596.10 CNY[51]. - The cash paid to employees was 20,036,570.06 CNY, down from 23,096,479.06 CNY in the previous period[51].