甘李药业(603087) - 2024 Q1 - 季度财报

Important Content Reminder The board of directors, supervisory board, and senior management guarantee the accuracy and completeness of the quarterly report - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content, assuming individual and joint legal responsibility[3] - The company's head, chief accountant, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[3] - The first quarter financial statements are unaudited[3] Key Financial Data This section presents the company's key financial performance and position indicators for the current reporting period Key Accounting Data and Financial Indicators In Q1 2024, operating revenue slightly increased by 0.42% to 560 million Yuan, net profit attributable to shareholders surged by 95.04% to 96 million Yuan, while non-recurring net profit decreased by 42.93% Key Accounting Data and Financial Indicators | Item | Amount for Current Period (Yuan) | Change from Prior Year Period (%) | | :--- | :--- | :--- | | Operating Revenue | 560,334,209.70 | 0.42 | | Net Profit Attributable to Shareholders of Listed Company | 96,004,278.20 | 95.04 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-recurring Gains and Losses | 17,169,319.18 | -42.93 | | Net Cash Flow from Operating Activities | 81,288,354.73 | Not Applicable | | Basic Earnings Per Share (Yuan/share) | 0.16 | 77.78 | | Diluted Earnings Per Share (Yuan/share) | 0.16 | 77.78 | | Weighted Average Return on Net Assets (%) | 0.89 | 0.38 | | Period-End Indicators | Amount at End of Current Period (Yuan) | Change from Prior Year-End (%) | | Total Assets | 11,719,954,413.58 | 0.04 | | Owners' Equity Attributable to Shareholders of Listed Company | 10,842,590,528.90 | 0.93 | Non-recurring Gains and Losses Items and Amounts Total non-recurring gains and losses for the period were 78.83 million Yuan, primarily from fair value changes of financial assets Non-recurring Gains and Losses Items and Amounts | Non-recurring Gains and Losses Item | Amount for Current Period (Yuan) | | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | 579,596.73 | | Government Grants Recognized in Current Profit or Loss | 2,069,931.77 | | Gains and Losses from Changes in Fair Value of Financial Assets and Liabilities, and from Disposal of Financial Assets and Liabilities | 87,766,570.01 | | Other Non-operating Income and Expenses Apart from the Above | 1,943,773.17 | | Other Profit and Loss Items Meeting the Definition of Non-recurring Gains and Losses | 470,697.75 | | Less: Income Tax Impact | 13,995,610.41 | | Total | 78,834,959.02 | - The company recognizes the amortization of deferred income from asset-related government grants (2,300,908.72 Yuan) as recurring gains and losses[6] Changes and Reasons for Key Accounting Data and Financial Indicators Net profit attributable to shareholders increased significantly by 95.04% due to fair value gains, while non-recurring net profit decreased by 42.93% due to higher R&D expenses Changes and Reasons for Key Accounting Data and Financial Indicators | Item Name | Change Percentage (%) | Primary Reason | | :--- | :--- | :--- | | Net Profit Attributable to Shareholders of Listed Company | 95.04 | Primarily due to increased fair value change gains from the company's securities investments during the reporting period | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-recurring Gains and Losses | -42.93 | Primarily due to increased R&D expenses year-on-year during the reporting period | | Net Cash Flow from Operating Activities | Not Applicable | Primarily due to increased cash received from sales of goods and services and increased tax refunds during the reporting period | | Basic Earnings Per Share | 77.78 | Primarily due to the year-on-year increase in net profit attributable to shareholders of the listed company during the current reporting period | | Diluted Earnings Per Share | 77.78 | Primarily due to the year-on-year increase in net profit attributable to shareholders of the listed company during the current reporting period | Shareholder Information This section details the company's shareholder structure, including the total number of shareholders and the holdings of the top ten Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the reporting period end, the company had 83,780 common shareholders, with Gan Zhongru as the largest shareholder holding 34.61% of shares, some of which are pledged - The total number of common shareholders at the end of the reporting period was 83,780[8] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held | Shareholding Percentage (%) | Number of Restricted Shares Held | Share Status | Number of Pledged, Marked, or Frozen Shares | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Gan Zhongru | Domestic Natural Person | 205,643,757 | 34.61 | 28,508,550 | Pledged | 63,260,000 | | Beijing Xute Hongda Technology Co., Ltd. | Domestic Non-State-Owned Legal Person | 47,494,437 | 7.99 | | None | | | Minghua Innovation Technology Investment (Hong Kong) Co., Ltd. | Overseas Legal Person | 22,154,087 | 3.73 | 15,875,800 | None | | | HKSCC Nominees Limited | Other | 7,253,096 | 1.22 | | None | | | Gan Xiru | Domestic Natural Person | 6,223,276 | 1.05 | | None | | | Vast Wintersweet Limited | Overseas Legal Person | 6,045,405 | 1.02 | 5,777,913 | None | | | Bank of China Ltd. - China Merchants CSI Biomedical Index Fund | Other | 4,626,700 | 0.78 | | None | | | Hillhouse G&L Holdings (HK) Limited | Overseas Legal Person | 4,357,832 | 0.73 | 4,296,032 | None | | | STRONG LINK INTERNATIONAL LIMITED | State-owned Legal Person | 4,256,033 | 0.72 | 4,256,033 | None | | | Agricultural Bank of China Ltd. - Penghua Pharmaceutical Technology Stock Fund | Other | 3,091,600 | 0.52 | | None | | - Gan Zhongru, the controlling shareholder and actual controller, holds 65.02% equity in Xute Hongda; Gan Xiru is Gan Zhongru's younger sister. No other related party relationships or concerted actions exist among other shareholders[14] Top Ten Shareholders of Unrestricted Shares The top ten unrestricted circulating share shareholders largely mirror the overall top ten, with Gan Zhongru holding 177.14 million unrestricted shares Top Ten Shareholders of Unrestricted Shares | Shareholder Name | Number of Unrestricted Circulating Shares Held | Type of Shares | Type and Quantity of Shares | | :--- | :--- | :--- | :--- | | Gan Zhongru | 177,135,207 | RMB Ordinary Shares | 177,135,207 | | Beijing Xute Hongda Technology Co., Ltd. | 47,494,437 | RMB Ordinary Shares | 47,494,437 | | HKSCC Nominees Limited | 7,253,096 | RMB Ordinary Shares | 7,253,096 | | Minghua Innovation Technology Investment (Hong Kong) Co., Ltd. | 6,278,287 | RMB Ordinary Shares | 6,278,287 | | Gan Xiru | 6,223,276 | RMB Ordinary Shares | 6,223,276 | | Bank of China Ltd. - China Merchants CSI Biomedical Index Fund | 4,626,700 | RMB Ordinary Shares | 4,626,700 | | Agricultural Bank of China Ltd. - Penghua Pharmaceutical Technology Stock Fund | 3,091,600 | RMB Ordinary Shares | 3,091,600 | | Zhang Jiazhen | 2,600,000 | RMB Ordinary Shares | 2,600,000 | | China Merchants Bank Co., Ltd. - Southern Alpha Mixed Securities Investment Fund | 2,465,834 | RMB Ordinary Shares | 2,465,834 | | Gan Yiru | 2,215,637 | RMB Ordinary Shares | 2,215,637 | - Mr. Zhang Jiazhen holds 2,600,000 shares through a credit securities account[14] Shareholders' Participation in Securities Lending Business Bank of China Ltd. - China Merchants CSI Biomedical Index Fund participated in securities lending, with a decrease in shares lent out from 933,200 to 115,200 Shareholders' Participation in Securities Lending Business | Shareholder Name (Full Name) | Total Shares Held in Ordinary and Credit Accounts at Period Start | Percentage (%) | Total Shares Lent Out Through Securities Lending and Not Yet Returned at Period Start | Percentage (%) | Total Shares Held in Ordinary and Credit Accounts at Period End | Percentage (%) | Total Shares Lent Out Through Securities Lending and Not Yet Returned at Period End | Percentage (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Bank of China Ltd. - China Merchants CSI Biomedical Index Fund | 3,788,600 | 0.64 | 933,200 | 0.16 | 4,626,700 | 0.78 | 115,200 | 0.02 | - Changes in the top 10 shareholders and top 10 unrestricted circulating share shareholders occurred due to securities lending/return, but specific details are not provided in the report[16] Other Reminders No other significant operating information requiring special attention from investors was identified during the reporting period - No other significant operating information requiring special attention from investors was identified during the reporting period[17] Quarterly Financial Statements This section presents the company's unaudited consolidated financial statements for the first quarter of 2024 Type of Audit Opinion The financial statements for the current quarter are unaudited - The financial statements for the current quarter are unaudited[18] Financial Statements This section includes the consolidated balance sheet, income statement, and cash flow statement for Q1 2024, detailing the company's financial position, performance, and cash movements Consolidated Balance Sheet As of March 31, 2024, total assets were 11.72 billion Yuan, a slight increase of 0.04% from year-end, with total liabilities at 877 million Yuan and total owners' equity at 10.84 billion Yuan Consolidated Balance Sheet | Item | March 31, 2024 (Yuan) | December 31, 2023 (Yuan) | Change (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 2,552,990,893.78 | 2,442,708,603.20 | 110,282,290.58 | 4.51 | | Financial Assets Held for Trading | 2,346,980,905.99 | 2,410,429,796.82 | -63,448,890.83 | -2.63 | | Accounts Receivable | 269,599,231.21 | 383,735,270.90 | -114,136,039.69 | -29.75 | | Inventories | 932,042,171.36 | 860,506,306.14 | 71,535,865.22 | 8.31 | | Total Current Assets | 6,215,027,747.41 | 6,175,749,710.54 | 39,278,036.87 | 0.64 | | Total Non-current Assets | 5,504,926,666.17 | 5,539,273,761.26 | -34,347,095.09 | -0.62 | | Total Assets | 11,719,954,413.58 | 11,715,023,471.80 | 4,930,941.78 | 0.04 | | Total Current Liabilities | 682,351,020.81 | 773,449,046.88 | -91,098,026.07 | -11.78 | | Total Non-current Liabilities | 195,012,503.62 | 199,067,997.28 | -4,055,493.66 | -2.04 | | Total Liabilities | 877,363,524.43 | 972,517,044.16 | -95,153,519.73 | -9.78 | | Total Owners' Equity Attributable to Parent Company | 10,842,590,528.90 | 10,742,506,022.92 | 100,084,505.98 | 0.93 | | Total Owners' Equity | 10,842,590,889.15 | 10,742,506,427.64 | 100,084,461.51 | 0.93 | Consolidated Income Statement In Q1 2024, total operating revenue was 560 million Yuan, a 0.42% increase, with net profit reaching 96 million Yuan, up 95.04%, primarily driven by significant fair value gains Consolidated Income Statement | Item | Q1 2024 (Yuan) | Q1 2023 (Yuan) | Change (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenue | 560,334,209.70 | 557,999,537.96 | 2,334,671.74 | 0.42 | | Total Operating Costs | 541,954,966.18 | 528,077,591.01 | 13,877,375.17 | 2.63 | | Selling Expenses | 227,086,625.00 | 224,729,850.74 | 2,356,774.26 | 1.05 | | Administrative Expenses | 43,299,233.12 | 46,800,804.48 | -3,501,571.36 | -7.48 | | Research and Development Expenses | 133,120,155.74 | 119,936,250.47 | 13,183,905.27 | 11.00 | | Gains from Changes in Fair Value | 85,501,251.91 | 17,706,102.62 | 67,795,149.29 | 382.90 | | Operating Profit | 113,115,835.01 | 59,826,046.76 | 53,289,788.25 | 89.08 | | Total Profit | 113,560,343.98 | 57,690,582.56 | 55,869,761.42 | 96.84 | | Income Tax Expense | 17,556,110.25 | 8,467,364.65 | 9,088,745.60 | 107.33 | | Net Profit | 96,004,233.73 | 49,223,217.91 | 46,781,015.82 | 95.04 | | Net Profit Attributable to Parent Company Shareholders | 96,004,278.20 | 49,223,261.29 | 46,781,016.91 | 95.04 | | Basic Earnings Per Share (Yuan/share) | 0.16 | 0.09 | 0.07 | 77.78 | | Diluted Earnings Per Share (Yuan/share) | 0.16 | 0.09 | 0.07 | 77.78 | Consolidated Cash Flow Statement Net cash flow from operating activities significantly improved to 81.29 million Yuan in Q1 2024, up from a negative 16.26 million Yuan in the prior year, mainly due to increased sales and tax refunds Consolidated Cash Flow Statement | Item | Q1 2024 (Yuan) | Q1 2023 (Yuan) | Change (Yuan) | | :--- | :--- | :--- | :--- | | Cash Received from Sales of Goods and Rendering of Services | 648,170,407.38 | 521,288,359.88 | 126,882,047.50 | | Tax Refunds Received | 35,184,163.91 | 19,057,286.19 | 16,126,877.72 | | Subtotal of Cash Inflows from Operating Activities | 688,698,883.71 | 546,877,814.78 | 141,821,068.93 | | Subtotal of Cash Outflows from Operating Activities | 607,410,528.98 | 563,137,935.55 | 44,272,593.43 | | Net Cash Flow from Operating Activities | 81,288,354.73 | -16,260,120.77 | 97,548,475.50 | | Subtotal of Cash Inflows from Investing Activities | 2,330,957,463.52 | 1,538,689,953.92 | 792,267,509.60 | | Subtotal of Cash Outflows from Investing Activities | 2,359,857,245.63 | 1,584,096,806.70 | 775,760,438.93 | | Net Cash Flow from Investing Activities | -28,899,782.11 | -45,406,852.78 | 16,507,070.67 | | Net Cash Flow from Financing Activities | -951,940.65 | -918,525.58 | -33,415.07 | | Net Increase in Cash and Cash Equivalents | 51,481,078.54 | -64,171,449.11 | 115,652,527.65 | Adjustments for First-Time Adoption of New Accounting Standards The company did not make any adjustments to its opening financial statements for the current year due to the first-time adoption of new accounting standards or interpretations - The company did not make any adjustments to its opening financial statements for the current year due to the first-time adoption of new accounting standards or interpretations during the reporting period[24]