China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
China National Accord Medicines Corporation Ltd.
The Third Quarterly Report for 2015
October 2015
1
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Section I. Important Notice
Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of China National
Accord Medicines Corporation Ltd. (hereinafter referred to as the Company) 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.
All directors are present the meeting of the Board for deliberating the Third Quarter Report of the Company in
person.
Yan Zhigang, person in charge of the Company, head of the accounting works Wei Pingxiao and Zhou Feifei,
accounting body principals (accountant in charge) hereby confirm that the Financial Report of the Third Quarterly
Report is authentic, accurate and complete.
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Section II. Main accounting data and changes of shareholders
I. Main accounting data and index
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √ No
Current period-end Period-end of last year Increase/decrease
Total assets(RMB) 14,298,937,947.02 12,828,941,540.90 11.46%
Net assets attributable to
shareholders of listed company 5,266,153,764.26 4,764,607,822.09 10.53%
(RMB)
Increase/decrease in
Increase/decrease in
Year-begin to end of comparison with year-
Current period comparison with same
the Period begin to Period-end of
period of last year
last year
Operating revenue (RMB) 6,866,003,376.77 9.30% 19,679,806,543.54 9.98%
Net profit attributable to
shareholders of the listed company 186,753,078.44 17.66% 574,072,330.77 13.52%
(RMB)
Net profit attributable to
shareholders of the listed company
183,019,662.66 20.67% 556,678,816.45 16.96%
after deducting non-recurring gains
and losses(RMB)
Net cash flow arising from
-- -- 408,159,149.92 169.26%
operating activities(RMB)
Basic earnings per share
0.515 17.58% 1.583 5.74%
(RMB/Share)
Diluted earnings per share
0.515 17.58% 1.583 5.74%
(RMB/Share)
Weighted average ROE 3.61% 0.07% 11.46% -2.03%
Items and amount of extraordinary profit (gains)/losses
√Applicable □Not applicable
In RMB
Amount from year-begin to
Item Note
end of the Period
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Mainly refers to the income of
relocation compensation from
Gains/losses from the disposal of non-current asset (including the
4,389,032.17 disposal of investment real estate
write-off that accrued for impairment of assets)
by subsidiary Sinopharm Holding
Liuzhou
Governmental subsidy reckoned into current gains/losses (not
Mainly refers to the various
including the subsidy enjoyed in quota or ration according to
13,640,742.24 specific grants and finance
national standards, which are closely relevant to enterprise’s
discount received in the Period
business)
Mainly because the bad debt of
account receivable for Tibet Naqu
Reversal of impairment reserve for account receivable with
3,273,444.33 Company, which has accrual
separate impairment testing
separately last year has collected
in the Period
Mainly due to the earnings from
render a hosted services by
Income of trustee fee obtained from trust for management 375,000.00 Sinopharm Holding and China
National Pharmaceutical Foreign
Trade Corporation
Mainly because subsidiary
Sinopharm Holding Liuzhou
Other non-operating income and expenditure except for the
2,864,911.21 obtained a relocation rewards and
aforementioned items
out-of-resettlement compensation
due to the removal
Less: impact on income tax 5,055,519.61
Impact on minority shareholders’ equity (post-tax) 2,094,096.02
Total 17,393,514.32 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the
Public --- Extraordinary Profit/loss.
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
II. Statement of the total shareholders and shares-held of top ten shareholders at end of the
Period
1. Statement of the total common shareholders and shares-held of top ten common shareholders
at end of the Period
In Share
Total common shareholders at
15,463
period-end
Shares-held of top ten common shareholders
Amount of Number of share pledged/frozen
Nature of Proportion of Amount of shares
Shareholders restricted shares
shareholder shares held held State of share Amount
held
Sinopharm Group State-owned
51.00% 184,942,291 74,482,543
Co., Ltd. corporate
National Council
Domestic non
for Social
state-owned 2.29% 8,300,000
Security Fund –
corporate
116
China Securities
Domestic non
Finance
state-owned 2.12% 7,704,972
Corporation
corporate
Limited
National Council
Domestic non
for Social
state-owned 2.01% 7,298,555
Security Fund –
corporate
106
HTHK/CMG
FSGUFP-CMG
Overseas
FIRST STATE 1.94% 7,032,720
corporate
CHINA
GROWTH FD
VALUE
Overseas
PARTNERS 1.61% 5,847,103
corporate
CLASSIC FUND
Domestic non
CITIC Securities state-owned 1.38% 5,007,937
corporate
China Life Domestic non
1.17% 4,237,124
Insurance state-owned
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Company Ltd. corporate
－tradition －
general insurance
products -005L-
CT001 Shen
New China Life
Insurance
Company Ltd. Domestic non
－Dividend － state-owned 1.16% 4,199,772
individual corporate
bonuses -018L-
FH002 Shen
China SAFE Domestic non
Investments state-owned 1.05% 3,804,400
Limited corporate
Particular about top ten common shareholders with un-restrict shares held
Type of shares
Shareholders Amount of un-restrict common shares held
Type Amount
RMB ordinary
Sinopharm Group Co., Ltd. 110,459,748 110,459,748
shares
National Council for Social Security RMB ordinary
8,300,000 8,300,000
Fund – 116 shares
China Securities Finance RMB ordinary
7,704,972 7,704,972
Corporation Limited shares
National Council for Social Security RMB ordinary
7,298,555 7,298,555
Fund – 106 shares
Domestically
HTHK/CMG FSGUFP-CMG FIRST
7,032,720 listed foreign 7,032,720
STATE CHINA GROWTH FD
shares
Domestically
VALUE PARTNERS CLASSIC
5,847,103 listed foreign 5,847,103
FUND
shares
RMB ordinary
CITIC Securities 5,007,937 5,007,937
shares
China Life Insurance Company Ltd.
RMB ordinary
－tradition －general insurance 4,237,124 4,237,124
shares
products -005L-CT001 Shen
New China Life Insurance Company RMB ordinary
4,199,772 4,199,772
Ltd. －Dividend －individual shares
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
bonuses -018L-FH002 Shen
RMB ordinary
China SAFE Investments Limited 3,804,400 3,804,400
shares
Explanation on associated It is unknown that there exists no associated relationship or belongs to the consistent actionist
relationship among the aforesaid among the other tradable shareholders regulated by the Management Measure of Information
shareholders Disclosure on Change of Shareholding for Listed Companies.
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement dealing
in reporting period
□ Yes √ No
The shareholders of the Company have no buy-back agreement dealing in reporting period.
2. Total of shareholders with preferred stock held and the top ten shareholdings in Period-end
□Applicable √Not applicable
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Section III. Important events
I. Particular about major changes from items of main accounting statements and financial
indexes as well as reasons
√ Applicable □Not applicable
1. Note receivable: cut down by 224.8243 million Yuan over that of opening balance with growth rate of -36.32%,
mainly because the settlement service with trade acceptance reduced in the Period;
2. Other account receivable: increased 28.0236 million Yuan over that of opening balance with growth rate of
98.07%, mainly because the deposit and margin are increased in the Period;
3. Other current assets: cut down by 16.1344 million Yuan over that of opening balance with growth rate of -40.03%,
mainly because the VAT to-be-deducted reduced in the Period;
4. Interest payable: increased 2.1271 million Yuan over that of opening balance with growth rate of 31.91%, mainly
due to the rising financing scale in the Period;
5. Non-current liability due within one year: increased 3.0431 million Yuan over that of opening balance with
growth rate of 76.08%, mainly because corresponding fair value of the Member Points due within one year are
increased over that of period-begin;
6. Long-term loans: increased 30.9984 million Yuan over that of opening balance with growth rate of 78.09%,
mainly due to the newly increased Pingshan Project loans in the Period;
7. Other business income: up 20.0843 million Yuan on y-o-y basis with growth rate of 35.63%, mainly because the
income from offering R&D technical services and sales of material income increased;
8. Other business cost: up 16.3505 million Yuan on y-o-y basis with growth rate of 145.50%, mainly because the
sales material business goes up on y-o-y basis;
9. Non-operation income: dropped 19.8009 million Yuan on y-o-y basis with growth rate of -53.71%, mainly
because in line with the litigation outcome last period, the compensation of lawsuit which accrual from previous
years have been written back, and no such business occurred in the Period;
10. Non-operation expenditure: dropped 1.0394 million Yuan on y-o-y basis with growth rate of -67.56%, mainly
because at same period of last year, there were poverty relief donations occurred while there is no such business in
the Period;
11. Minority interest income: up 5.1862 million Yuan on y-o-y basis with growth rate of 40.99%, mainly because
the profitability upgrade in the Period;
12. Refunds of taxes: dropped 7.5003 million Yuan on y-o-y basis with growth rate of-83.83%, mainly because the
tax refunds received in the Period declined;
13. Net cash flow arising from operation activities: up 997.5034 million Yuan on y-o-y basis with growth rate of
169.26%, mainly because the purchase-to-pay and vary taxes paid in the Period declined on a y-o-y basis;
14. Cash paid for the purchase and construction of fixed assets, intangible assets and other long-term assets: dropped
90.5632 million Yuan on y-o-y basis with growth rate of-38.26%, mainly because the investment for construction
work is decreased in the Period;
15. Net cash paid for the acquisition of subsidiaries and other business entities: up 7.8078 million Yuan on y-o-y
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
basis with growth rate of 474.88%, mainly because the final equity payment for Sinopharm Holding Jiangmen is
paid in the Period;
16. Net cash flow arising from investment activities: up 89.5344 million Yuan on y-o-y basis with growth rate of
42.85%, mainly because the investment for construction work is decreased in the Period;
17. Cash received by investors: dropped 1928.7954 million Yuan on y-o-y basis with growth rate of-99.92%,
mainly because at same period of last year, there is increased capital from private placement received while there
is no such business occurred in the Period;
18. Cash received relating to other financing activities: dropped 32.1528 million Yuan on y-o-y basis with growth
rate of-100%, mainly because the cash from downstream factoring business is received at same period of last year
while there is no such business occurred in the Period;
19. Payment for debt: dropped 1062.2838 million Yuan on y-o-y basis with growth rate of-94.53%, mainly
because the loans repaying in the Period decreased.
20. Net cash flow arising from financing activities: dropped 91,041.20 Yuan on y-o-y basis with growth rate of -
116.92%, mainly because at same period of last year, there are increased capital from private placement received
while there is no such business occurred in the Period;
II. Progress and influence of the main events as well as solution analysis specification
□Applicable √ Not applicable
III. Commitments made by the Company or shareholders holding above 5% shares of the
Company in reporting period or made in previous period and extending to reporting period
√ Applicable □Not applicable
Commitment Commitment
Commitments Accepter Contents Implementation
time period
Share Merger
Reform
As a large pharmaceutical commercial
enterprise whose business involves
pharmaceutical wholesale and retail,
Sinopharm Holding may overlap with the
Commitments in Company in geographical segmentation during
report of Sinopharm its future business development. To avoid the Long-term Normally implement
2005-06-21
acquisition or Holding potential peer competition brought by such effective
equity change geographical overlap, Sinopharm Holding
undertakes that, upon the transfer of shares of
Sinopharm Holding Guangzhou it held to
Accord Pharma, “1. it will not newly-establish
or broaden within Guangdong any business
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
operation that actually compete with that of
Accord Pharma, or set up any new subsidiaries
or subordinate enterprises who engage in such
business. 2. it will enter into business
delineation with Accord Pharma and
Sinopharm Holding Guangzhou, thereby
giving the three parties clear geographical
areas to carry out pharmaceutical wholesale
and retail businesses, so as to avoid potential
peer competition. Apart from above,
Sinopharm Holding will no longer newly-
establish any enterprise that may compete with
Accord Pharma in the production and R&D of
pharmaceutical products.”
Commitments in
assets
reorganization
Sinopharm Holding has undertaken in the
Letter of Undertaking from Sinopharm Group
Co. Ltd. on Avoiding Peer Competition that, “I.
the Company and the enterprises it wholly-
owns, controls or has de facto control over
(excluding Sinopharm Accord and its
controlled enterprises, similarly hereinafter) do
not exist any business or operation that would
constitute substantive peer competition with
Sinopharm Accord and its controlled Controlling shareholder
enterprises. II. the Company and the is implement in real
Commitments enterprises it wholly-owns, controls or has de earnest, Sinopharm
make in initial Sinopharm facto control over will not engage in, Long-term Accord will actively
2013-09-05
public offering Holding participate in or carry out in Guangdong and effective urged the controlling
or re-financing Guangxi any business or activities that would shareholder and actual
constitute substantive competition with the controller to fulfill
pharmaceutical commercial businesses of commitments
Sinopharm Accord. III. the Company and the
enterprises it wholly-owns, controls or has de
facto control over will not engage in,
participate in or carry out any business or
activities that would constitute substantive
competition with the pharmaceutical industrial
businesses of Sinopharm Accord. IV. the
Company will not make use of its control over
Sinopharm Accord to damage the legal
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
interests of Sinopharm Accord and other
shareholders (especially minority
shareholders). The Letter of Undertaking takes
effect since the date of issue and will remain
effective during the entire period when the
Company has been the controlling shareholder
or connected party of Sinopharm Accord.
During the validity of the Undertaking, the
Company will indemnify in time Sinopharm
Accord from any loss which may arise out of
the Company’s violation of the Undertaking.”
Sinopharm Holding has undertaken in the
Letter of Undertaking from Sinopharm Group
Co. Ltd. on Standardization of the Connected
Transactions with China National Accord
Medicines Corporation Ltd. that, “I. during the
period when the Company takes control over
Sinopharm Accord, the Company and the
companies or enterprises it directly or
indirectly controls (hereinafter referred to as
“Connected Party”) will strictly standardize the
connected transactions with Sinopharm Accord
and its controlled enterprises. II. for those
connected transactions beyond avoidance or Controlling shareholder
out of reasonable causes, the Company and is implement in real
Connected Party will enter into standardized earnest, Sinopharm
Sinopharm connected transaction agreement with Long-term Accord will actively
2013-09-05
Holding Sinopharm Accord according to law. effective urged the controlling
Sinopharm Accord will perform approval shareholder and actual
procedure according to relevant laws, rules and controller to fulfill
regulations, other standardization documents commitments
and its constitutional documents, and fulfill its
obligation to disclose information on
connected transactions. III. for those connected
transactions beyond avoidance or out of
reasonable causes, the Company and
Connected Party will determine the prices of
connected transactions based on the prices of
same or similar transactions entered into by
independent third parties of no connection
while following the principles of open, fair and
just to ensure the fairness. IV. when the board
or shareholders’ meeting of Sinopharm Accord
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
votes on the relevant connected transactions
involving the Company and other enterprises it
controls, the Company will perform
obligations including that necessary interested
directors and shareholders shall be abstained
from voting according to relevant regulations,
and follow the legal procedures for approval of
connected transactions and fulfill its
information disclosure obligation. V. the
Company guarantees to attend shareholders’
meeting according to the constitutional
documents of Sinopharm Accord, exercise its
corresponding rights and assumed its
corresponding obligations in an equitable
manner, not to take advantage of its standing as
controlling shareholder to seek unjust interests,
or to use connected transactions to illegally
transfer capital or profit out of Sinopharm
Accord, or to prejudice the legal interests of
Sinopharm Accord and other shareholders
(especially minority shareholders). VI. the
Letter of Undertaking takes effect since the
date of issue and will remain effective during
the entire period when the Company has been
the controlling shareholder or connected party
of Sinopharm Accord. During the validity of
the Undertaking, the Company will indemnify
in time Sinopharm Accord from any loss that
may arise out of the Company’s violation of the
Undertaking.”
”Sinopharm Group has undertaken in the Letter
of Undertaking from China National
Pharmaceutical Group Corporation on Actual controller is
Avoiding the Peer Competition with China implement in real
National Accord Medicines Corporation Ltd. earnest, Sinopharm
Sinopharm that, “I. in the coming five years, Sinopharm Long-term Accord will actively
2013-10-16
Group Group intends to take appropriate measures effective urged the controlling
including replacement or acquisition of assets shareholder and actual
or equity reorganization to solve the problem of controller to fulfill
peer competition between Weiqida and commitments
Sinopharm Accord. II. apart from the matters
disclosed in the past and in the Letter of
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Undertaking, the Company and the enterprises
it wholly-owns, controls or has de facto control
over (excluding Sinopharm Accord and its
controlled enterprises, similarly hereinafter) do
not directly engage in, participate in or carry
out within the PRC any business or activities
that would constitute substantive competition
with the production and operation of
Sinopharm Accord. The relative undertakings
in respect of avoiding peer competition given
by the Company in the past remain valid. III.
the Company will not take advantage of its
control over Sinopharm Accord to damage the
legal interests of Sinopharm Accord and
other shareholders (especially minority
shareholders). IV. the Letter of Undertaking
takes effect since the date of issue and will
remain effective during the entire period when
the Company has been the de facto controller
or connected party of Sinopharm Accord.”
Sinopharm Group has undertaken in the Letter
of Undertaking from China National
Pharmaceutical Group Corporation on
Standardization of the Connected Transactions
with China National Accord Medicines
Corporation Ltd that, “I. during the period
when the Company takes control over
Sinopharm Accord, the Company and the
Actual controller is
companies or enterprises it directly or
implement in real
indirectly controls (hereinafter referred to as
earnest, Sinopharm
“Connected Party”) will strictly standardize the
Sinopharm Long-term Accord will actively
connected transactions with Sinopharm Accord 2013-09-22
Group effective urged the controlling
and its controlled enterprises. II. for those
shareholder and actual
connected transactions beyond avoidance or
controller to fulfill
out of reasonable causes, the Company and
commitments
Connected Party will enter into standardized
connected transaction agreement with
Sinopharm Accord according to law.
Sinopharm Accord will perform approval
procedure according to relevant laws, rules and
regulations, other standardization documents
and its constitutional documents, and fulfill its
obligation to disclose information on
13
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
connected transactions. III. for those connected
transactions beyond avoidance or out of
reasonable causes, the Company and
Connected Party will determine the prices of
connected transactions based on the prices of
same or similar transactions entered into by
independent third parties of no connection
while following the principles of open, fair and
just to ensure the fairness. IV. when the board
or shareholders’ meeting of Sinopharm Accord
votes on the relevant connected transactions
involving the Company and other enterprises it
controls, the Company will perform
obligations including that necessary interested
directors and shareholders shall be abstained
from voting according to relevant regulations,
and follow the legal procedures for approval of
connected transactions and fulfill its
information disclosure obligation. V. the
Company guarantees not to take advantage of
its standing as actual controller to seek unjust
interests, or to use connected transactions to
illegally transfer capital or profit out of
Sinopharm Accord, or to prejudice the legal
interests of Sinopharm Accord and other
shareholders (especially minority
shareholders).”VI. the Letter of Undertaking
takes effect since the date of issue and will
remain effective during the entire period when
the Company has been the actual controller or
connected party of Sinopharm Accord.
Other
commitments to
minority
shareholders of
the Company
Completed on
Yes
time or not
IV. Estimation of operation performance for year of 2015
Estimation on 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 on reason
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
□ Applicable √ Not applicable
V. Particular about security investment
□ Applicable √ Not applicable
The Company had no security investment in Period.
VI. Equity of other listed company held by the Company
□ Applicable √ Not applicable
The Company has no equity of other listed company held at period-end
VII. Particulars about derivatives investment
□ Applicable √ Not applicable
The Company had no derivatives investment in Period.
VIII. Registration form of receiving research, communication and interview in the report
period
□Applicable √ Not applicable
The Company has no research, communication and interview accepted in the Period
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Section IV. Financial Statement
I. Financial statement
1. Consolidated Balance Sheet
Prepared by China National Accord Medicines Corporation Ltd.
2015-09-30
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 1,013,884,519.57 867,562,115.54
Settlement provisions
Capital lent
Financial assets measured by fair
value and whose change is recorded in
current gains and losses
Derivative financial assets
Notes receivable 394,171,131.23 618,995,440.09
Accounts receivable 8,338,293,189.08 7,018,312,673.19
Accounts paid in advance 93,893,147.30 96,043,154.40
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable
Other receivables 56,598,493.86 28,574,927.90
Purchase restituted finance asset
Inventories 2,490,715,532.51 2,322,333,262.87
Divided into assets held ready for
sales
Non-current asset due within one
year
Other current assets 24,174,145.31 40,308,591.47
Total current assets 12,411,730,158.86 10,992,130,165.46
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Non-current assets:
Granted loans and advances
Finance asset available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment 162,956,577.03 157,604,846.85
Investment property 77,788,114.73 73,836,850.51
Fixed assets 775,007,642.63 745,557,829.35
Construction in progress 363,698,845.05 330,218,696.56
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 139,853,402.48 144,383,753.87
Expense on Research and
5,619,315.47 5,619,315.47
Development
Goodwill 79,378,833.15 79,378,833.15
Long-term expenses to be
38,413,747.56 39,154,232.03
apportioned
Deferred income tax asset 80,430,122.44 85,146,479.50
Other non-current asset 164,061,187.62 175,910,538.15
Total non-current asset 1,887,207,788.16 1,836,811,375.44
Total assets 14,298,937,947.02 12,828,941,540.90
Current liabilities:
Short-term loans 1,922,477,929.73 1,517,954,528.88
Loan from central bank
Absorbing deposit and interbank
deposit
Capital borrowed
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes payable 1,419,083,464.80 1,468,166,640.64
Accounts payable 4,650,505,884.89 3,988,878,234.03
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Accounts received in advance 37,445,736.11 40,339,905.63
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 130,034,708.11 171,958,142.88
Taxes payable 96,380,767.63 77,445,669.46
Interest payable 8,793,790.26 6,666,712.19
Dividend payable
Other accounts payable 334,100,084.70 412,347,201.51
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Divided into liability held ready
for sale
Non-current liabilities due within 1
7,043,100.00 4,000,000.00
year
Other current liabilities
Total current liabilities 8,605,865,466.23 7,687,757,035.22
Non-current liabilities:
Long-term loans 70,693,824.54 39,695,448.00
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable 10,822,806.36
Long-term wages payable 2,582,100.00 2,896,000.00
Special accounts payable 1,287,000.00 1,287,000.00
Accrual liabilities
Deferred income 168,091,726.69 176,366,201.15
Deferred income tax liabilities 23,130,504.44 24,297,076.57
Other non-current liabilities 45,427,343.31 45,427,343.31
Total non-current liabilities 322,035,305.34 289,969,069.03
Total liabilities 8,927,900,771.57 7,977,726,104.25
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China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Owner’s equity:
Share capital 362,631,943.00 362,631,943.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 1,863,894,533.34 1,863,894,533.34
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus public reserve 181,315,971.50 181,315,971.50
Provision of general risk
Retained profit 2,858,311,316.42 2,356,765,374.25
Total owner’s equity attributable to
5,266,153,764.26 4,764,607,822.09
parent company
Minority interests 104,883,411.19 86,607,614.56
Total owner’s equity 5,371,037,175.45 4,851,215,436.65
Total liabilities and owner’s equity 14,298,937,947.02 12,828,941,540.90
Legal representative: Yan Zhigang
Person in charge of accounting works: Wei Pingxiao
Person in charge of accounting institution: Zhou Feifei
2. Balance Sheet of parent company
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 213,025,111.81 257,173,314.81
Financial assets measured by fair
value and whose change is recorded in
current gains and losses
Derivative financial assets
Notes receivable 3,161,064.50 47,389,669.59
Accounts receivable 655,550,847.30 513,791,982.48
Accounts paid in advance 1,543,685.34 5,047,755.80
Interest receivable 1,929,700.38 1,890,165.10
Dividend receivable
19
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Other receivables 1,506,696,764.87 1,111,423,809.76
Inventories 179,612,810.46 184,880,147.05
Divided into assets held ready for
sales
Non-current asset due within one year
Other current assets 9,124,221.59 2,560,096.51
Total current assets 2,570,644,206.25 2,124,156,941.10
Non-current assets:
Finance asset available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment 2,777,356,071.41 2,772,004,341.23
Investment real estate 4,581,781.19 5,272,980.96
Fixed assets 94,108,637.37 17,175,509.65
Construction in progress 328,611,767.67 299,290,846.13
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 35,949,262.39 36,923,545.12
Expense on Research and Development
Goodwill
Long-term expenses to be apportioned 7,756,920.48 5,681,186.10
Deferred income tax asset 2,860,992.26 2,800,803.02
Other non-current asset 51,539,700.38 68,103,087.93
Total non-current asset 3,302,765,133.15 3,207,252,300.14
Total assets 5,873,409,339.40 5,331,409,241.24
Current liabilities:
Short-term loans 232,000,000.00 202,000,000.00
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes payable 239,928,522.23 274,584,574.89
20
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Accounts payable 428,599,428.99 314,477,971.19
Accounts received in advance 2,857,671.39 322,008.81
Wage payable 16,387,574.14 20,339,767.52
Taxes payable 7,575,075.34 13,695,533.72
Interest payable 191,717.52 86,831.07
Dividend payable
Other accounts payable 327,481,724.34 447,928,781.45
Divided into liability held ready
for sale
Non-current liabilities due within 1 year
Other current liabilities
Total current liabilities 1,255,021,713.95 1,273,435,468.65
Non-current liabilities:
Long-term loans 65,693,824.54 39,695,448.00
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable 226,000.00 226,000.00
Special accounts payable 800,000.00 800,000.00
Accrual liabilities
Deferred income 5,000,000.00 5,000,000.00
Deferred income tax liabilities 3,774,569.00 3,773,319.00
Other non-current liabilities
Total non-current liabilities 75,494,393.54 49,494,767.00
Total liabilities 1,330,516,107.49 1,322,930,235.65
Owner’s equity:
Share capital 362,631,943.00 362,631,943.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 1,869,692,921.70 1,869,692,921.70
21
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus public reserve 181,315,971.50 181,315,971.50
Retained profit 2,129,252,395.71 1,594,838,169.39
Total owner’s equity 4,542,893,231.91 4,008,479,005.59
Total liabilities and owner’s equity 5,873,409,339.40 5,331,409,241.24
3. Consolidated Profit Statement (this report period)
In RMB
Item Current period Prior period
I. Total operating income 6,866,003,376.77 6,281,963,971.53
Including: Operating income 6,866,003,376.77 6,281,963,971.53
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 6,641,799,761.77 6,100,229,470.64
Including: Operating cost 6,364,449,301.02 5,833,268,381.58
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 extras 10,754,748.24 9,386,944.76
Sales expenses 131,702,711.01 112,238,970.55
Administration expenses 114,237,485.02 113,782,559.26
Financial expenses 20,199,936.13 29,944,760.23
Losses of devaluation of asset 455,580.35 1,607,854.26
Add: Changing income of fair value(Loss
is listed with “-”)
22
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Investment income (Loss is listed with
11,264,688.74 13,143,999.51
“-”)
Including: Investment income on
11,264,688.74 13,143,999.51
affiliated company and joint venture
Exchange income (Loss is listed with “-”)
III. Operating profit (Loss is listed with
235,468,303.74 194,878,500.40
“-”)
Add: Non-operating income 4,081,386.64 8,528,482.74
Including: Disposal gains of non-
417,021.63 191,595.79
current asset
Less: Non-operating expense 58,358.45 330,963.49
Including: Disposal loss of non-current
142,655.16 215,831.48
asset
IV. Total Profit (Loss is listed with “-”) 239,491,331.93 203,076,019.65
Less: Income tax expense 47,223,465.50 40,074,573.40
V. Net profit (Net loss is listed with “-”) 192,267,866.43 163,001,446.25
Net profit attributable to owner’s of
186,753,078.44 158,726,925.31
parent company
Minority shareholders’ gains and losses 5,514,787.99 4,274,520.94
VI. Net other comprehensive income
after-tax
Net other comprehensive income after-
tax attributable to owners of parent
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of re-
measurement of net defined benefit plan
liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method which
will not be reclassified subsequently to
profit and loss
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
23
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
1. Share of the other
comprehensive income of the investee
accounted for using equity method which
will be reclassified subsequently to profit
or loss
2. Gains or losses arising
from changes in fair value of available-
for-sale financial assets
3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale financial
assets
4. The effect hedging portion
of gains or losses arising from cash flow
hedging instruments
5. Translation differences
arising on translation of foreign currency
financial statements
6. Other
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income 192,267,866.43 163,001,446.25
Total comprehensive income
186,753,078.44 158,726,925.31
attributable to owners of parent Company
Total comprehensive income
5,514,787.99 4,274,520.94
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.515 0.438
(ii) Diluted earnings per share 0.515 0.438
As for the business merger under the same control in the Period, Yuan net profit realized before merger by the combined party, the
net profit for combined party in last period was Yuan.
Legal representative: Yan Zhigang
Person in charge of accounting works: Wei Pingxiao
Person in charge of accounting institution: Zhou Feifei
4. Profit Statement of parent company (this report period)
In RMB
Item Current period Prior period
24
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
I. Operating income 707,895,452.73 734,321,077.76
Less: operating cost 673,918,156.37 705,436,495.45
Operating tax and extras 1,524,376.24 2,430,299.49
Sales expenses 11,228,666.13 12,365,596.47
Administration expenses 12,107,506.81 11,578,094.71
Financial expenses -17,264,862.18 -30,454,474.94
Losses of devaluation of asset 116,627.27 116,740.12
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is listed with
11,264,688.73 18,064,754.09
“-”)
Including: Investment income on
11,264,688.73 13,143,999.51
affiliated company and joint venture
II. Operating profit (Loss is listed with
37,529,670.82 50,913,080.55
“-”)
Add: Non-operating income 234,465.95 10,044.48
Including: Disposal gains of non-
current asset
Less: Non-operating expense -0.02
Including: Disposal loss of non-current
asset
III. Total Profit (Loss is listed with “-”) 37,764,136.79 50,923,125.03
Less: Income tax expense 6,429,993.21 7,900,592.86
IV. Net profit (Net loss is listed with
31,334,143.58 43,022,532.17
“-”)
V. Net after-tax of other comprehensive
income
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of re-
measurement of net defined benefit plan
liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method
which will not be reclassified
subsequently to profit and loss
25
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1. Share of the other
comprehensive income of the investee
accounted for using equity method
which will be reclassified subsequently
to profit or loss
2. Gains or losses arising
from changes in fair value of available-
for-sale financial assets
3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale
financial assets
4. The effect hedging
portion of gains or losses arising from
cash flow hedging instruments
5. Translation differences
arising on translation of foreign
currency financial statements
6. Other
VI. Total comprehensive income 31,334,143.58 43,022,532.17
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated profit statement (from year-begin to end of this period)
In RMB
Item Current period Prior period
I. Total operating income 19,679,806,543.54 17,894,606,405.81
Including: Operating income 19,679,806,543.54 17,894,606,405.81
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 19,001,427,483.59 17,322,455,843.61
26
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Including: Operating cost 18,166,110,341.44 16,460,036,038.82
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 extras 37,198,437.99 36,859,658.29
Sales expenses 393,776,817.02 383,388,181.09
Administration expenses 317,826,858.37 330,858,718.45
Financial expenses 78,839,608.53 102,392,485.33
Losses of devaluation of asset 7,675,420.24 8,920,761.63
Add: Changing income of fair value(Loss
is listed with “-”)
Investment income (Loss is listed with
39,538,750.18 36,739,722.01
“-”)
Including: Investment income on
39,538,750.18 36,739,722.01
affiliated company and joint venture
Exchange income (Loss is listed with “-”)
III. Operating profit (Loss is listed with
717,917,810.13 608,890,284.21
“-”)
Add: Non-operating income 17,063,676.10 36,864,548.07
Including: Disposal gains of non-
427,318.99 692,585.33
current asset
Less: Non-operating expense 499,038.83 1,538,460.84
Including: Disposal loss of non-current
368,059.75 280,069.64
asset
IV. Total Profit (Loss is listed with “-”) 734,482,447.40 644,216,371.44
Less: Income tax expense 142,572,320.00 125,875,954.02
V. Net profit (Net loss is listed with “-”) 591,910,127.40 518,340,417.42
Net profit attributable to owner’s of parent
574,072,330.77 505,688,779.43
company
Minority shareholders’ gains and losses 17,837,796.63 12,651,637.99
27
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
VI. Net other comprehensive income
after-tax
Net other comprehensive income after-
tax attributable to owners of parent
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of re-
measurement of net defined benefit plan
liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method which
will not be reclassified subsequently to
profit and loss
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1. Share of the other
comprehensive income of the investee
accounted for using equity method which
will be reclassified subsequently to profit
or loss
2. Gains or losses arising
from changes in fair value of available-
for-sale financial assets
3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale financial
assets
4. The effect hedging portion
of gains or losses arising from cash flow
hedging instruments
5. Translation differences
arising on translation of foreign currency
financial statements
6. Other
Net other comprehensive income after-
tax attributable to minority
28
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
VII. Total other consolidated income 591,910,127.40 518,340,417.42
Total consolidated income attributable to
574,072,330.77 505,688,779.43
owners of parent company
Total consolidated income attributable to
17,837,796.63 12,651,637.99
minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 1.583 1.497
(ii) Diluted earnings per share 1.583 1.497
As for the business merger under the same control in the Period, Yuan net profit realized before merger by the combined party, the
net profit for combined party in last period was Yuan.
6. Profit Statement of parent company (from year-begin to end of this period)
In RMB
Item Current period Prior period
I. Operating income 2,117,811,188.23 2,078,854,464.72
Less: operating cost 2,024,014,258.26 1,996,348,869.75
Operating tax and extras 4,266,591.00 6,249,456.18
Sales expenses 33,939,722.56 35,760,799.33
Administration expenses 34,245,121.31 36,834,667.09
Financial expenses -49,584,705.81 -61,166,675.03
Losses of devaluation of asset 410,566.05 270,135.10
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is listed with
554,051,869.71 498,608,841.32
“-”)
Including: Investment income on
39,538,750.18 36,739,722.01
affiliated company and joint venture
II. Operating profit (Loss is listed with
624,571,504.57 563,166,053.62
“-”)
Add: Non-operating income 332,246.72 715,297.08
Including: Disposal gains of
326.59
non-current asset
Less: Non-operating expense 0.08
Including: Disposal loss of non-current
asset
III. Total Profit (Loss is listed with “-”) 624,903,751.29 563,881,350.62
29
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Less: Income tax expense 17,963,136.37 16,251,065.83
IV. Net profit (Net loss is listed with “-”) 606,940,614.92 547,630,284.79
V. Net other comprehensive income
after-tax
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of re-
measurement of net defined benefit plan
liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method
which will not be reclassified
subsequently to profit and loss
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1. Share of the other
comprehensive income of the investee
accounted for using equity method
which will be reclassified subsequently
to profit or loss
2. Gains or losses arising
from changes in fair value of available-
for-sale financial assets
3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale
financial assets
4. The effect hedging
portion of gains or losses arising from
cash flow hedging instruments
5. Translation differences
arising on translation of foreign
currency financial statements
6. Other
VI. Total comprehensive income 606,940,614.92 547,630,284.79
VII. Earnings per share:
30
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
(i) Basic earnings per share
(ii) Diluted earnings per share
7. Consolidated Cash Flow Statement (from year-begin to end of this period)
In RMB
Item Current period Prior period
I. Cash flows arising from operating
activities:
Cash received from selling commodities
20,633,444,697.69 17,908,007,328.48
and 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 amount from disposal
financial assets that measured by fair
value and with variation reckoned into
current gains/losses
Cash received from interest, commission
charge and commission
Net increase of capital borrowed
Net increase of returned business capital
Write-back of tax received 1,446,726.90 8,947,070.73
Other cash received concerning
66,440,712.60 75,769,060.23
operating activities
Subtotal of cash inflow arising from
20,701,332,137.19 17,992,723,459.44
operating activities
Cash paid for purchasing commodities
19,119,988,676.85 17,447,751,970.38
and receiving labor service
Net increase of customer loans and
advances
Net increase of deposits in central bank
and interbank
31
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
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 staff and workers 485,136,482.02 439,907,204.26
Taxes paid 441,876,457.82 421,428,798.02
Other cash paid concerning operating
246,171,370.58 272,979,736.89
activities
Subtotal of cash outflow arising from
20,293,172,987.27 18,582,067,709.55
operating activities
Net cash flows arising from operating
408,159,149.92 -589,344,250.11
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
0.00 0.00
investment
Cash received from investment income 35,190,000.00 28,152,000.00
Net cash received from disposal of fixed,
998,055.18 1,257,052.51
intangible and other long-term assets
Net cash received from disposal of
0.00 0.00
subsidiaries and other units
Other cash received concerning
0.00 0.00
investing activities
Subtotal of cash inflow from investing
36,188,055.18 29,409,052.51
activities
Cash paid for purchasing fixed,
146,167,376.75 236,730,564.01
intangible and other long-term assets
Cash paid for investment 0.00 0.00
Net increase of mortgaged loans
Net cash received from subsidiaries and
9,452,000.00 1,644,172.91
other units
Other cash paid concerning investing
0.00 0.00
activities
Subtotal of cash outflow from investing
155,619,376.75 238,374,736.92
activities
Net cash flows arising from investing
-119,431,321.52 -208,965,684.41
activities
III. Cash flows arising from financing
activities
Cash received from absorbing 1,470,000.00 1,930,265,413.47
32
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
investment
Including: Cash received from absorbing
minority shareholders’ investment by 1,470,000.00 0.00
subsidiaries
Cash received from loans 125,722,354.87 174,372,388.34
Cash received from issuing bonds
Other cash received concerning
0.00 32,152,750.15
financing activities
Subtotal of cash inflow from financing
127,192,354.87 2,136,790,551.96
activities
Cash paid for settling debts 61,469,731.00 1,123,753,511.67
Cash paid for dividend and profit
154,678,884.00 183,572,083.63
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by 1,032,000.00 5,825,783.82
subsidiaries
Other cash paid concerning financing
42,818,773.74 50,827,980.27
activities
Subtotal of cash outflow from financing
258,967,388.74 1,358,153,575.57
activities
Net cash flows arising from financing
-131,775,033.87 778,636,976.39
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 7,360.46 5,838.21
exchange rate
V. Net increase of cash and cash
156,960,154.94 -19,667,119.92
equivalents
Add: Balance of cash and cash
854,212,006.84 1,097,948,354.45
equivalents at the period -begin
VI. Balance of cash and cash equivalents
1,011,172,161.78 1,078,281,234.53
at the period -end
8. Cash Flow Statement of parent company (from year-begin to end of this period)
In RMB
Item Current period Prior period
I. Cash flows arising from operating
activities:
Cash received from selling commodities
2,245,035,658.21 2,178,553,762.47
and providing labor services
Write-back of tax received 0.00 0.00
Other cash received concerning 10,277,088.77 16,271,321.78
33
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
operating activities
Subtotal of cash inflow arising from
2,255,312,746.98 2,194,825,084.25
operating activities
Cash paid for purchasing commodities
2,207,784,468.53 2,155,142,728.62
and receiving labor service
Cash paid to/for staff and workers 43,554,714.68 39,046,375.47
Taxes paid 38,063,645.73 26,377,550.12
Other cash paid concerning operating
15,519,036.73 21,802,894.06
activities
Subtotal of cash outflow arising from
2,304,921,865.67 2,242,369,548.27
operating activities
Net cash flows arising from operating
-49,609,118.69 -47,544,464.02
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment income 219,294,985.39 234,399,564.16
Net cash received from disposal of fixed,
700.00
intangible and other long-term assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
2,488,319,315.47 2,954,312,357.21
investing activities
Subtotal of cash inflow from investing
2,707,614,300.86 3,188,712,621.37
activities
Cash paid for purchasing fixed,
118,417,451.35 166,131,758.87
intangible and other long-term assets
Cash paid for investment 0.00 8,110,000.00
Net cash received from subsidiaries and
9,200,000.00 6,761,000.00
other units
Other cash paid concerning investing
2,883,936,599.67 4,008,433,743.73
activities
Subtotal of cash outflow from investing
3,011,554,051.02 4,189,436,502.60
activities
Net cash flows arising from investing
-303,939,750.16 -1,000,723,881.23
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
0.00 1,930,265,413.47
investment
34
China National Accord Medicines Corporation Ltd.The Third Quarterly Report for 2015
Cash received from loans 94,933,328.85 58,095,448.00
Cash received from issuing bonds
Other cash received concerning
337,881,122.11 394,669,491.62
financing activities
Subtotal of cash inflow from financing
432,814,450.96 2,383,030,353.09
activities
Cash paid for settling debts 10,000,000.00 945,000,000.00
Cash paid for dividend and profit
82,413,625.11 88,630,556.66
distributing or interest paying
Other cash paid concerning financing
31,000,160.00 128,579,308.55
activities
Subtotal of cash outflow from financing
123,413,785.11 1,162,209,865.21
activities
Net cash flows arising from financing
309,400,665.85 1,220,820,487.88
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 1,201.00
exchange rate
V. Net increase of cash and cash
-44,148,203.00 172,553,343.63
equivalents
Add: Balance of cash and cash
257,173,314.81 218,342,947.03
equivalents at the period -begin
VI. Balance of cash and cash equivalents
213,025,111.81 390,896,290.66
at the period -end
II. Audit report
Whether the third quarter report was audited or not
□Yes √No
The third quarter report of the Company has not been audited
35
