Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
Shenzhen Accord Pharmaceutical Co., Ltd.
The First Quarterly Report 2011 (Full Text)
§1. Important Notes
1.1 Board of Directors and the Supervisory Committee of Shenzhen Accord Pharmaceutical Co.,
Ltd. (hereinafter referred to as the Company) and its directors, supervisors and senior executives
hereby confirm that there are no any fictitious statements, misleading statements, or important
omissions carried in this report, and shall take all responsibilities, individual and/or joint, for the
reality, accuracy and completion of the whole contents.
1.2Other directors attended the meeting on examining the Quarterly Report except for the
following directors.
Name of absent
Title Reason of absence Name of entrusted
directors
Lu Jun Director Due to business Shi Jinming
Wu Aimin Director Due to business Jiang Xiuchang
Ma Wanjun Director Due to business Shi Jinming
1.3 The First Quarterly Financial Report of 2011 has not been audited by CPAs.
1.4 Mr. Shi Jinming, Chairman of the Company; Mr. Yan Zhigang, General Manager; Mr. Wei
Pingxiao, CFO and Mr. Chi Guoguang, Financial Manager hereby confirm that the Financial Report
of the First Quarterly Report is true and complete.
§2. Company Profile
2.1 Main accounting highlights and financial indexes
Unit: RMB
Changes of
At the end of the At the period-end of
increase/decrease
report period the last year
(%)
Total assets (RMB) 6,547,314,118.01 6,306,793,005.81 3.81%
Owners’ equity attributable to
shareholders of the listed company 1,139,629,597.70 1,052,370,309.53 8.29%
(RMB)
Share capital (Share) 288,149,400.00 288,149,400.00 0.00%
Net asset per share attributable to
shareholders of listed company 3.95 3.65 8.22%
(RMB/Share)
Changes of
The same period of
In the report period increase/decrease
last year
(%)
Total operating income (RMB) 3,526,818,451.42 2,997,143,207.41 17.67%
Net profit attributable to
shareholders of the listed company 87,259,288.17 63,119,447.46 38.24%
(RMB)
Net cash flow arising from operating
-316,947,045.11 -73,092,572.19 333.62%
activities (RMB)
Net cash flow arising from operating
-1.10 -0.25 3.34%
activities per share (RMB/Share)
Basic earnings per share 0.30 0.22 36.36%
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Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
(RMB/Share)
Diluted earnings per share
0.30 0.22 36.36%
(RMB/Share)
Weighted average return on equity
7.96% 7.18% 0.78%
(%)
Weighted average return on equity
after deducting non-recurring gains 7.70% 6.96% 0.74%
and losses (%)
Items of non-recurring gains and losses
√ Applicable □ Inapplicable
Unit: RMB
Remarks (If
Items of non-recurring gains and losses Amount
applicable)
Gains and losses from the disposal of non-current
23,428.34
assets
Governmental subsidy reckoned into current gains
and losses, but closely relevant to the Company’s
business except for the governmental subsidy 2,191,962.70
enjoyed in quota or ration according to the national
general standards
Impairment provision reversal on account receivable
138,973.36
which conducting impairment testing separately
Other non-operating income and expenditure except
579,406.30
for the above items
Influenced amount of minority shareholders’ equity 421,552.78
Influenced amount of income tax -491,983.45
Total 2,863,340.03 -
2.2 Total number of shareholders at the end of the report period and shares held by the top
ten shareholders with unrestricted conditions
Unit: Share
Total number of shareholders
22,169
at the end of report period
Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
Amount of tradable shares with
Full name of shareholder unrestricted conditions held at Type of shares
the end of report period
SINOPHARM GROUP CO., LTD. 110,459,748 RMB common share
ICBC—HARVEST THEME RMB common share
10,290,292
NEW POWER STOCK FUND
ICBC－GUANGFA JUFENG RMB common share
9,782,950
STOCK FUND
ABC—GREATWAL ANXIN RMB common share
7,669,023
RETURN MEX STOCK FUND
HTHK/CMG FSGUFP-CMG FIRST Domestically listed foreign
7,032,720
STATE CHINA GROWTH FD share
ICBC－BOSHI SELECTIVE RMB common share
4,963,365
STOCK FUND
ICBC- GD STRATEGY 4,207,399 RMB common share
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Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
SELECTED MIXED STOCK
FUND
ICBC—HARVEST STRATEGY RMB common share
4,158,959
GROWTH MIXED STOCK FUND
ICBC—BOC CONTINUOUS RMB common share
3,443,546
GROWTH STOCK FUND
CCB—GREATWALL CONSUMER RMB common share
3,143,979
VALUE-ADDED STOCK FUND
§3. Significant Events
3.1 Particulars about material changes in items of main accounting statement and financial
index, and explanations of reasons
√Applicable □Inapplicable
1. Account received in advance at period-end decrease RMB 37.64 million over that of period-begin
with rate of -37.52 percent up. Mainly because part of the account received in advance at year-begin
qualified the income condition and recognized as income.
2. Taxes payable at period-end increase RMB 22.76 million over that of period-begin with rate of
57.30 percent up. Mainly because the taxes payable at this period gains a y-o-y increase due to the
soaring of business income and profit of the Company; furthermore, the increase of taxes payable
also influenced by the higher tax rate of urban construction and enterprise income tax in Shenzhen
area.
3. Interest payable at period-end decrease RMB 1.56 million over that of period-begin with rate of
-73.71 percent up. Mainly due to the part of the loan interest have been paid by the Company.
4. Long-term loans at period-end increase RMB 52 million over that of period-begin with rate of
173.33 percent up. Mainly because the (1) subordinate subsidiary – Zhijun Wanqing increase RMB
30 million in long-term loans in this period; (2) subsidiary of the Company—Guangxi Sinopharm
Logistic increase RMB 22 million in long-term loans in this period.
5. Business tax and surcharge at this period increase RMB 4.43 million over same period of last year
with rate of 118.60 percent up. Mainly because the expanded business scale makes the income
increased and various taxes paid increased; the rate of city construction tax higher from 1 percent to 7
percent in Shenzhen area.
6. Financial expenses at this period increase RMB 10.38 million over same period of last year with
rate of 66.30 percent up. Mainly because: (1) the adjustment of loan rates from tight money of the
State; (2) the bank loan increased for the development supporting for business.
7. Loss of assets impairment amounting to RMB 5.39 million, increase RMB 4.43 million over same
period of last year with rate of 461.59 percent up. Mainly because (1) the bad debt provision
withdrawal in the period amount of RMB 1.26 million, RMB 0.11 million have been reversed; (2)
Concerning the inventory goods expired, neraly-expired or deprice, RMB 5.21 million was
withdrawal for devalue provision, RMB 0.97 million was transfer-back
8. Investment income at this period increase RMB 1.98 million over same period of last year with
rate of 46.04 percent up. Mainly because affiliated company—Main Luck Pharmaceutical gains a
y-o-y growth in net profit that make the recognized investment income increased in the period.
9. Non-operating income at this period decrease RMB 1.95 million over same period of last year with
rate of -40.81 percent up. Mainly because the government grants received by subsidiary—Zhijun
Wanqing has a y-o-y decreased in the period.
10. Non-operating expenses at this period decrease RMB 0.55 million over same period of last year
with rate of -93.80 percent up. Mainly because there has RMB 0.44 million for loss of the disposal on
non-current assets in same period of last year from the Company and its subordinate subsidiary, and
this kind of business has a minor amount occurred in this period.
11. Income tax at this period increase RMB 7.6 million over same period of last year with rate of
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Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
40.19 percent up. Mainly because the Company has a strong profitability, the total profit has a y-o-y
growth of RMB 31.81 million which caused the increase of income tax the withdrawal in this period.
Meanwhile, the tax rate higher in the Shenzhen area has an influence on that.
12. Taxes returned received at this period decrease RMB 0.94 million over same period of last year
with rate of -55.42 percent up. Mainly because the refund on export received in this period by Zhijun
Medical Trading, subordinate subsidiary of the Company, has a y-o-y decrease.
13. Net cash received from the disposal of fixed assets, intangible assets and other long-term assets at
this period decrease RMB 4.5 million over same period of last year with rate of -89.90 percent up.
Mainly because the last period, subordinate subsidiary of the Company, Zhijun Pharmaceutical
obtained RMB 4.5 million in cash from the disposal on part of real estate, and there are no significant
amount income from disposal of non-current assets.
14. Other cash received concerning investment activities has a y-o-y increase of RMB 1.91 million
over last year. Mainly because in the period, subsidiary of the Company, Guangxi Sinopharm
Logistic received the supporting fund from Government of Nanning Economy Development Zone for
project of logistic park while no kind of this business occurred in same period of last year.
15. Net cash received from subsidiary and other business units amounting to RMB 00.00 in this
period, decreased RMB 11.34 million over same period of last year. Mainly because the at same
period of last year, the Company paid the equity acquisition amount of RMB 10.94 million for the 3rd
phases of Zhijun Wanqing, and RMB 0.4 million for Dongguan Accord, therefore, no kind of
business occurred in this period.
16. Other cash paid for investment activities related at this period increase RMB 2.55 million over
same period of last year with rate of 35.66 percent up. Mainly because the RMB 7.15 million,
acquisition amount for 1st phase on medical business of Nanning Pharmaceutical Corp. was paid by
Sinopharm Nanning Co.,; RMB 9.70 million was paid in this period for 2nd phase acquisition.
17. Cash received by borrowing at this period decrease RMB 230 million over same period of last
year with rate of -32.98 percent up. Mainly because last year, the Company allocated internal capital
completely, and performed the financing business with lower capital cost, makes the bank loans has a
y-o-y decreased in this period.
18. Cash paid for debt settlement at this period decrease RMB 460 million over same period of last
year with rate of -81.92 percent up. Mainly because the bank loans needed for payment on due
decrease over same period of last year.
19. Cash paid for dividend and profit distribution or interest settlement at this period increase RMB
6.91 million over same period of last year with rate of 57.82 percent up. Mainly because the
financing line was increased in the period, than the interest payable increased correspondingly.
20. Other cash paid for financing activities related at this period increase RMB 20.96 million over
same period of last year with rate of 178.19 percent up. Mainly because the amount of for account
receivable factoring have been paid in the period while no such kind business occurred in same
period of last year.
3.2 Analysis and explanation of significant events and their influence and solutions
3.2.1 Particular about Qualified Opinion
□Applicable √Inapplicable
3.2.2 Particular about fund offered to shareholder or its related parties by the Company and
external guarantee with procedure violation
□Applicable √Inapplicable
3.2.3 Particular about the significant contract of routine operation signed and implemented
□Applicable √Inapplicable
3.2.4 Other
√Applicable □Inapplicable
I. The Sinopharm TCM Co., Ltd. was purchased on 22 November 2010 under the same control by the
Company. In accordance with relevant regulations of Accounting Standards for Business
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Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
Enterprise No.20—Business Combination, the Company adjusted the comparative statement dated
March 2010 and consolidated the Sinopharm TCM Co., Ltd. The income from January – March of
2010 increased RMB 10.04 million, net profit of RMB -1.59 million and net cash flow arising
from operating activities amounting to RMB -6.83 million.
II. In accordance with the Notice of Work on Regulated Pilot of Internal Control for Listed Company
in Shenzhen Area (SZJGSZ[2011] No. 31) issued by Shenzhen Securities Regulatory, and the
requirement from Basic Regulation of Internal Control for Enterprise, the basic information on
internal control for first quarterly report of 2011 as:
(I) Implementation on the construction of internal control
1. Prepared the Self-Evaluation Report on Internal Control for Shenzhen Accord Pharmaceutical Co.,
Ltd. 2010, and disclosed on March 22 after deliberation from the Board.
2. Prepared the “Implementation on Work Plan of Basic Regulation of Internal Control for
Enterprise” of Shenzhen Accord, and disclosed on March 22 after deliberation from the Board
approved.
3. According to the arrangement from Shenzhen Securities Regulatory, the Company organized
relevant personnel who in charge of the internal control for professional training on the construction
of internal control.
4. Combined the organization structure of the Company, the first draft of 26 internal manuals and
self-evaluation manuals for internal control have been revised being.
5. Distinguished the current risks in and out of the Company by headquarter professional dept. and
major business dept., collected 239 items of risks in total.
6. Discussion the final draft for internal control documents and the collection standards for risks, and
regulated the plan for subsequent training of the internal control manual. Plans to convene the
Specific Meeting for Risk Internal Control and Procedures for approval in early of May.
7. According to the “Implementation on Work Plan of Basic Regulation of Internal Control for
Enterprise”, the First Meeting of 6th Session of the Board held on April 28 decided to set up four
specific committees in the Board. The “Committee for risk internal control and auditing” was set up
as the decision making mechanism and supervise mechanism on internal control in aspect of
implementation on basis of governance level.
(II) Comparative on schedule, difference and counter measurement in work plan
Compare with the plan involved in the “Implementation on Work Plan of Basic Regulation of
Internal Control for Enterprise”, relevant works are strictly complied with the schedule being
performing, and no difference been found and no events required solving.
3.3 Implementations of commitments by the Company, shareholders and actual controller
Commitments make within the report period or persisted to the period by listed company and its
director, supervisor and senior executives, shareholder with over 5 percent shares held and its actual
controller
√Applicable □Inapplicable
3.4 Estimation of accumulative net profit from the beginning of the year to the end of next
report period to be loss probably or the warning of its material change compared with the
corresponding period of the last year and explanation of reason
□Applicable √Inapplicable
3.5 Other significant events which need explanations
3.5.1 Particulars about securities investment
□Applicable √Inapplicable
3.5.2 Registration form for receiving research, communication and interview in the report
period
Contents discussed and
Date Place Method Investor
materials supplied
2011-01-20 Accord Spot Minsheng Securities, China Knowing about the reform
5
Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
Pharmaceut research Merchants Fund development of
ical pharmaceutical industry
Building and no information
required
First Capital Securities, UBS
Knowing about the reform
Accord Securities, Xiangcai
development of
Pharmaceut Spot Securities, Ivy Capital,
2011-03-03 pharmaceutical industry
ical research Guosen Securities, Bank of
and no information
Building Communications Schroder
required
Fund and FUANDA FUND
3.6 Particulars about derivatives investment
□Applicable √Inapplicable
3.6.1 Particulars about derivatives investment held at the end of report period
□Applicable √Inapplicable
§4. Appendix
4.1 Balance sheet
Prepared by Shenzhen Accord Pharmaceutical Co., Ltd. March 31, 2011 Unit: RMB
Balance at period-end Balance at year-begin
Items
Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 687,645,506.54 198,381,738.30 711,789,775.66 135,498,819.87
Settlement
provisions
Capital lent
Transaction finance
asset
Notes receivable 331,054,784.99 7,653,603.72 369,169,030.47 5,038,459.89
Accounts receivable 3,157,179,105.29 273,715,685.10 2,866,825,102.78 282,597,465.23
Accounts paid in
97,244,617.06 3,194,736.69 101,806,030.92 3,798,560.90
advance
Insurance receivable
Reinsurance
receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 37,653,351.25 599,047,876.34 43,110,999.74 557,324,957.67
Purchase restituted
finance asset
Inventories 1,179,720,385.27 106,367,000.68 1,156,329,658.80 117,829,120.30
Non-current asset
due within one year
Other current assets
Total current assets 5,490,497,750.40 1,188,360,640.83 5,249,030,598.37 1,102,087,383.86
Non-current assets:
Granted loans and
advances
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Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
Finance asset
available for sales
Held-to-maturity
investment
Long-term account
receivable
Long-term equity
91,548,684.18 1,328,276,098.27 85,275,251.06 1,272,402,665.15
investment
Investment property 91,622,994.34 11,672,902.54 87,293,333.76 12,033,619.61
Fixed assets 484,921,297.52 34,586,916.63 492,557,743.43 35,677,614.01
Construction in
121,095,907.61 253,886.24 108,301,338.12 253,886.24
progress
Engineering
material
Disposal of fixed
asset
Productive
biological asset
Oil and gas asset
Intangible assets 117,315,148.83 28,420,906.67 129,175,366.09 28,837,698.02
Expense on
Research and 2,580,662.85 2,580,662.85
Development
Goodwill 53,555,677.09 53,555,677.09
Long-term expenses
22,720,204.20 8,913,652.92 19,811,611.24 9,161,222.49
to be apportioned
Deferred income tax
26,728,023.97 2,958,699.75 31,083,592.24 2,958,699.75
asset
Other non-current
44,727,767.02 48,127,831.56 0.00
asset
Total non-current asset 1,056,816,367.61 1,415,083,063.02 1,057,762,407.44 1,361,325,405.27
Total assets 6,547,314,118.01 2,603,443,703.85 6,306,793,005.81 2,463,412,789.13
Current liabilities:
Short-term loans 1,251,210,486.70 526,873,709.54 975,475,884.21 349,183,556.07
Loan from central
bank
Absorbing deposit
and interbank deposit
Capital borrowed
Transaction
financial liabilities
Notes payable 1,223,840,218.04 111,296,375.93 1,448,622,490.72 227,394,114.09
Accounts payable 2,112,415,037.08 285,661,334.84 2,003,566,517.62 238,636,669.29
Accounts received
62,684,934.86 37,548.85 100,322,387.21 48,490.62
in advance
Selling financial
asset of repurchase
Commission charge
and commission payable
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Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
Wage payable 90,760,148.28 21,903,300.74 127,191,717.25 22,612,110.63
Taxes payable 62,479,961.64 3,959,737.39 39,720,311.72 2,957,612.62
Interest payable 557,902.05 2,122,314.90 596,047.97
Dividend payable
Other accounts
334,575,833.81 912,115,413.75 345,011,293.80 874,380,433.82
payable
Reinsurance
payables
Insurance contract
reserve
Security trading of
agency
Security sales of
agency
Non-current
liabilities due within 1
year
Other current
liabilities
Total current liabilities 5,138,524,522.46 1,861,847,421.04 5,042,032,917.43 1,715,809,035.11
Non-current liabilities:
Long-term loans 82,000,000.00 30,000,000.00
Bonds payable
Long-term account
39,904.20 40,777.80
payable
Special accounts
4,755,000.00 1,320,000.00 4,755,000.00 1,320,000.00
payable
Projected liabilities
Deferred income tax
21,996,982.07 3,773,319.00 22,709,093.70 3,773,319.00
liabilities
Other non-current
79,593,848.61 75,809,855.74
liabilities
Total non-current
188,385,734.88 5,093,319.00 133,314,727.24 5,093,319.00
liabilities
Total liabilities 5,326,910,257.34 1,866,940,740.04 5,175,347,644.67 1,720,902,354.11
Owner’s equity (or
shareholders’ equity):
Paid-in capital (or
288,149,400.00 288,149,400.00 288,149,400.00 288,149,400.00
share capital)
Capital public
5,030,338.57 13,828,726.93 5,030,338.57 13,828,726.93
reserve
Less: Inventory
shares
Reasonable reserve
Surplus public
39,981,268.55 39,981,268.55 39,981,268.55 39,981,268.55
reserve
Provision of general
risk
Retained profit 806,468,590.58 394,543,568.33 719,209,302.41 400,551,039.54
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Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
Balance difference
of foreign currency
translation
Total owner’s equity
attributable to parent 1,139,629,597.70 736,502,963.81 1,052,370,309.53 742,510,435.02
company
Minority interests 80,774,262.97 79,075,051.61
Total owner’s equity 1,220,403,860.67 736,502,963.81 1,131,445,361.14 742,510,435.02
Total liabilities and
6,547,314,118.01 2,603,443,703.85 6,306,793,005.81 2,463,412,789.13
owner’s equity
4.2 Profit statement
Prepared by Shenzhen Accord Pharmaceutical Co., Ltd. Jan.-Mar. 2011 Unit: RMB
Amount in this period Amount in last period
Items
Consolidation Parent Company Consolidation Parent Company
I. Total operating income 3,526,818,451.42 453,841,194.44 2,997,143,207.41 408,871,235.83
Including: Operating
3,526,818,451.42 453,841,194.44 2,997,143,207.41 408,871,235.83
income
Interest income
Insurance gained
Commission charge
and commission income
II. Total operating cost 3,420,408,282.78 464,486,312.67 2,921,216,947.49 416,407,513.69
Including: Operating cost 3,183,522,936.34 433,808,415.71 2,728,758,764.01 391,002,358.55
Interest expense
Commission charge
and commission expense
Cash surrender
value
Net amount of
expense of compensation
Net amount of
withdrawal of insurance
contract reserve
Bonus expense of
guarantee slip
Reinsurance
expense
Operating tax and
8,165,589.31 911,988.51 3,735,389.90 250,316.92
extras
Sales expenses 117,532,935.00 7,538,568.30 101,606,865.79 11,168,239.45
Administration
79,758,107.73 15,490,744.57 70,497,760.39 11,867,945.03
expenses
Financial expenses 26,041,000.13 7,050,860.61 15,658,805.81 2,442,906.26
Losses of
5,387,714.27 -314,265.03 959,361.59 -324,252.52
devaluation of asset
Add: Changing
income of fair value(Loss
is listed with “-”)
Investment income 6,273,433.12 6,273,433.12 4,295,789.17 3,543,098.54
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Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
(Loss is listed with “-”)
Including:
Investment income on
6,273,433.12 6,273,433.12 4,295,789.17 3,543,098.54
affiliated company and
joint venture
Exchange income
(Loss is listed with “-”)
III. Operating profit
112,683,601.76 -4,371,685.11 80,222,049.09 -3,993,179.32
(Loss is listed with “-”)
Add: Non-operating
2,830,817.22 -7.85 4,782,543.87 899,059.00
income
Less: Non-operating
36,019.88 581,380.49
expense
Including: Disposal
8,067.76 440,672.27
loss of non-current asset
IV. Total Profit (Loss is
115,478,399.10 -4,371,692.96 84,423,212.47 -3,094,120.32
listed with “-”)
Less: Income tax 26,519,899.57 1,635,778.25 18,917,223.05
V. Net profit (Net loss is
88,958,499.53 -6,007,471.21 65,505,989.42 -3,094,120.32
listed with “-”)
Net profit
attributable to owner’s 87,259,288.17 -6,007,471.21 63,119,447.46 -3,094,120.32
equity of parent company
Minority
shareholders’ gains and 1,699,211.36 2,386,541.96
losses
VI. Earnings per share
i. Basic earnings per
0.30 0.22
share
ii. Diluted earnings per
0.30 0.22
share
VII. Other consolidated
income
VIII. Total consolidated
88,958,499.53 -6,007,471.21 65,505,989.42 -3,094,120.32
income
Total consolidated
income attributable to
87,259,288.17 -6,007,471.21 63,119,447.46 -3,094,120.32
owners of parent
company
Total consolidated
income attributable to 1,699,211.36 2,386,541.96
minority shareholders
Concerning the enterprise consolidation under common control occurred in the period; the mergered
party realized net profit before consolidation amounting to RMB00.00.
4.3 Cash flow statement
Prepared by Shenzhen Accord Pharmaceutical Co., Ltd. Jan.-Mar. 2011 Unit: RMB
Amount in this period Amount in last period
Items
Consolidation Parent Company Consolidation Parent Company
I. Cash flows arising
10
Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
from operating activities:
Cash received from
selling commodities and 3,413,820,892.44 512,728,220.34 2,912,662,916.73 455,535,793.15
providing labor services
Net increase of
customer deposit and
interbank deposit
Net increase of loan
from central bank
Net increase of
capital borrowed from
other financial institution
Cash received from
original insurance
contract fee
Net cash received
from reinsurance
business
Net increase of
insured savings and
investment
Net increase of
disposal of transaction
financial asset
Cash received from
interest, commission
charge and commission
Net increase of
capital borrowed
Net increase of
returned business capital
Write-back of tax
75,431.82 169,199.66
received
Other cash received
concerning operating 25,568,991.86 10,330,297.16 28,006,067.04 6,865,163.40
activities
Subtotal of cash
inflow arising from 3,439,465,316.12 523,058,517.50 2,940,838,183.43 462,400,956.55
operating activities
Cash paid for
purchasing commodities
3,432,258,083.52 603,678,760.41 2,727,422,607.05 330,433,992.99
and receiving labor
service
Net increase of
customer loans and
advances
Net increase of
deposits in central bank
and interbank
11
Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
Cash paid for
original insurance
contract compensation
Cash paid for
interest, commission
charge and commission
Cash paid for bonus
of guarantee slip
Cash paid to/for
137,727,322.10 15,146,125.23 120,056,474.56 10,658,254.65
staff and workers
Taxes paid 84,541,630.69 6,592,520.64 70,932,610.07 6,835,190.63
Other cash paid
concerning operating 101,885,324.92 15,948,200.18 95,519,063.94 21,267,062.67
activities
Subtotal of cash
outflow arising from 3,756,412,361.23 641,365,606.46 3,013,930,755.62 369,194,500.94
operating activities
Net cash flows
arising from operating -316,947,045.11 -118,307,088.96 -73,092,572.19 93,206,455.61
activities
II. Cash flows arising
from investing activities:
Cash received from
recovering investment
Cash received from
investment income
Net cash received
from disposal of fixed,
505,236.40 5,003,300.00
intangible and other
long-term assets
Net cash received
from disposal of
subsidiaries and other
units
Other cash received
concerning investing 1,908,000.00
activities
Subtotal of cash
inflow from investing 2,413,236.40 5,003,300.00
activities
Cash paid for
purchasing fixed,
41,755,033.01 1,613,807.64 51,018,699.34 163,527.65
intangible and other
long-term assets
Cash paid for
49,600,000.00 583,460,000.00
investment
Net increase of
mortgaged loans
Net cash received 11,337,750.63 11,337,750.63
12
Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
from subsidiaries and
other units
Other cash paid
concerning investing 9,698,496.42 7,149,060.00
activities
Subtotal of cash
outflow from investing 51,453,529.43 51,213,807.64 69,505,509.97 594,961,278.28
activities
Net cash flows
arising from investing -49,040,293.03 -51,213,807.64 -64,502,209.97 -594,961,278.28
activities
III. Cash flows arising
from financing activities
Cash received from
absorbing investment
Including: Cash
received from absorbing
minority shareholders’
investment by
subsidiaries
Cash received from
473,500,000.00 280,000,000.00 706,500,000.00 540,000,000.00
loans
Cash received from
issuing bonds
Other cash received
concerning financing 18,836,940.75 211,336,940.75 796,836,467.10
activities
Subtotal of cash
inflow from financing 492,336,940.75 491,336,940.75 706,500,000.00 1,336,836,467.10
activities
Cash paid for
101,578,420.88 40,000,000.00 561,921,239.21 524,421,239.21
settling debts
Cash paid for
dividend and profit
18,851,178.99 14,210,318.24 11,944,780.80 5,696,397.21
distributing or interest
paying
Including: Dividend
and profit of minority
shareholder paid by
subsidiaries
Other cash paid
concerning financing 32,722,807.48 204,722,807.48 11,762,551.78 338,740,000.00
activities
Subtotal of cash
outflow from financing 153,152,407.35 258,933,125.72 585,628,571.79 868,857,636.42
activities
Net cash flows
arising from financing 339,184,533.40 232,403,815.03 120,871,428.21 467,978,830.68
activities
13
Shenzhen Accord Pharmaceutical Co., Ltd. First Quarterly Report 2011(Full Text)
IV. Influence on cash and
cash equivalents due to
-180.51 -5.15
fluctuation in exchange
rate
V. Net increase of cash
-26,802,985.25 62,882,918.43 -16,723,359.10 -33,775,991.99
and cash equivalents
Add: Balance of
cash and cash equivalents 682,875,873.18 135,498,819.87 588,405,675.91 125,541,203.80
at the period -begin
VI. Balance of cash and
cash equivalents at the 656,072,887.93 198,381,738.30 571,682,316.81 91,765,211.81
period -end
4.4 Auditor’ report
Auditor’s opinions: Un-audited
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