China National Accord Medicines Corporation Ltd.
First Quarterly Report 2021
April 2021
1
Section I. Important Notes
Board of Directors and the Supervisory Committee of China National Accord
Medicines Corporation Ltd.(hereinafter referred to as the Company) and its
directors, supervisors and senior executives should guarantee the reality,
accuracy and completion of the quarterly report, there are no any fictitious
statements, misleading statements or important omissions carried in this report,
and shall take legal responsibilities, individual and/or joint.
All Directors are attended the Board Meeting for Quarterly Report deliberation.
Lin Zhaoxiong person in charge of the Company, Gu Guolin, person in charger
of accounting works and Wang Ying, person in charger of accounting organ
(accounting officer) hereby confirm that the Financial Report of this Quarterly
Report is authentic, accurate and complete.
2
Section II. Company profile
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data
□Yes √No
Changes of this period over
Current Period Same period of last year
same period of last year
Operating income (RMB) 16,049,966,325.75 12,824,196,278.66 25.15%
Net profit attributable to shareholders of
328,800,560.24 248,800,655.88 32.15%
the listed Company (RMB)
Net profit attributable to shareholders of
the listed company after deducting 321,593,612.98 241,724,850.95 33.04%
non-recurring gains and losses (RMB)
Net cash flows from operating activities
-306,748,999.24 -688,273,848.63 55.43%
(RMB)
Basic earnings per share (RMB/Share) 0.77 0.58 32.76%
Diluted earnings per share (RMB/Share) 0.77 0.58 32.76%
Weighted average ROE 2.33% 1.92% 0.41 percentage point up
Changes of this period-end
At the end of the reporting
At the end of last year over same period-end of last
period
year
Total assets (RMB) 43,020,753,415.92 39,594,533,471.65 8.65%
Net assets attributable to shareholder of
14,277,162,387.04 13,948,322,652.33 2.36%
listed company (RMB)
Items of non-recurring gains and losses
√ Applicable □ Not applicable
In RMB
Amount from year-begin to
Item Note
period-end
The gains of disposal of the
Gains/losses from the disposal of non-current asset (including the right-of-use assets from store
216,388.08
write-off that accrued for impairment of assets) lease surrender and the loss from
fixed assets scrapping
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to Various special subsidies and tax
9,265,003.74
national standards, which are closely relevant to enterprise’s rebates received in the Period
business)
3
Switch back of provision for depreciation of account receivable
78,530.15
and contract assets that are individually tested for impairment
The non-operating income arising
Other non-operating income and expenditure except for the
5,180,996.84 from written off the money not
aforementioned items
required to be paid
Other gains/losses satisfy a definition of extraordinary
609,647.62
gains/losses
Less: Impact on income tax 3,348,453.94
Impact on minority shareholders’ equity (post-tax) 4,795,165.23
Total 7,206,947.26 --
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
II. Total number of shareholders at the end of this report period and top ten shareholders
1. Total number of common shareholders at the end of this report period and top ten common shareholders
In shares
Total preference shareholders with
Total common shareholders at the
42,431 voting rights recovered at end of 0
end of report period
reporting period (if applicable)
Top ten shareholders
Amount of
Shareholder’s Nature of Proportion of Amount of shares Number of share pledged/frozen
restricted shares
name shareholder shares held held State of share Amount
held
Sinopharm Group State-owned legal
56.06% 239,999,991 5,505,770
Co., Ltd. person
Hong Kong
Securities Foreign
3.55% 15,215,743
Clearing Corporation
Company Ltd
FIRST SENTIER
INVESTORS Foreign
2.68% 11,469,644
GLOBAL Corporation
UMBRELLA
4
FUND PLC -
FSSA CHINA
GROWTH
FUND
China National
Pharmaceutical State-owned legal
1.24% 5,323,043
Foreign Trade person
Corp.
National Social Domestic non
Security Fund- state-owned 0.97% 4,161,032
portfolio 413 Corporation
Central Huijin State-owned legal
0.89% 3,804,400
Investment Ltd. person
BBH BOS S/A
FIDELITY FD - Foreign
0.78% 3,358,761
CHINA FOCUS Corporation
FD
CPIC Fund-
China Pacific
Life Insurance
Co., Lt. -
participating
Domestic non
insurance -CPIC
state-owned 0.66% 2,822,801
fund PICC Stock
Corporation
Relative Income
(guaranteed
bonus)single
asset
management plan
Fidelity
Investment
Management Foreign
0.54% 2,308,237
(Hong Kong) Corporation
Limited - Client’s
fund
China
Construction
Domestic non
Bank Co., Ltd. -
state-owned 0.45% 1,921,921
China Europe
Corporation
Value Discovery
Equity Fund
Top ten shareholders with unrestricted shares held
5
Type of shares
Shareholder’s name Amount of unrestricted shares held
Type Amount
RMB ordinary
Sinopharm Group Co., Ltd. 234,494,221 234,494,221
shares
Hong Kong Securities Clearing RMB ordinary
15,215,743 15,215,743
Company Ltd shares
FIRST SENTIER INVESTORS
Domestic listed
GLOBAL UMBRELLA FUND PLC 11,469,644 11,469,644
foreign shares
- FSSA CHINA GROWTH FUND
China National Pharmaceutical RMB ordinary
5,323,043 5,323,043
Foreign Trade Corp. shares
National Social Security Fund- RMB ordinary
4,161,032 4,161,032
portfolio 413 shares
RMB ordinary
Central Huijin Investment Ltd. 3,804,400 3,804,400
shares
BBH BOS S/A FIDELITY FD - Domestic listed
3,358,761 3,358,761
CHINA FOCUS FD foreign shares
CPIC Fund- China Pacific Life
Insurance Co., Lt. - participating
RMB ordinary
insurance -CPIC fund PICC Stock 2,822,801 2,822,801
shares
Relative Income (guaranteed
bonus)single asset management plan
Fidelity Investment Management RMB ordinary
2,308,237 2,308,237
(Hong Kong) Limited - Client’s fund shares
China Construction Bank Co., Ltd. -
RMB ordinary
China Europe Value Discovery 1,921,921 1,921,921
shares
Equity Fund
Sinopharm Group Co., Ltd. and China National Pharmaceutical Foreign Trade Corporation
Explanation on associated have the same actual controller, which is China National Pharmaceutical Group Corporation.
relationship among the aforesaid It is unknown that there exists no associated relationship or belongs to the consistent actionist
shareholders among the other tradable shareholders regulated by the Management Measure of Information
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 top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.
6
2. Total shareholders with preferred stock held at Period-end and shares held by top ten shareholders with
preferred stock held
□ Applicable √ Not applicable
7
Section III. Significant Events
I. Particulars about material changes in items of main accounting statement and financial
index and explanations of reasons
√Applicable □Not applicable
1.Receivable financing: a decrease of 973.0057 million Yuan compared with the beginning of the period, with a growth rate of
-69.25%, mainly because the bank acceptance bill discount in the Period increased;
2. Short-term borrowings: an increase of 2335.6654 million Yuan compared with the beginning of the period, with a growth rate of
144.88%, mainly because the supply chain financing increased in the Period;
3. Employee benefits payable: a decrease of 115.9978 million Yuan compared with the beginning of the period, with a growth rate of
-32.47%, mainly because the salaries and bonus accrued in the previous year are paid in the Period;
4. Other payables: an increase of 499.6124 million Yuan compared with the beginning of the period, with a growth rate of 31.24%,
mainly due to the equity consideration payable arising from acquisition of Yunnan Guoda Disheng Drugstore Chain Co., Ltd and
Yunnan Guoda Disheng Pharmacy Co., ltd by subsidiary of the company -Sinopharm Holding Guoda Drugstore Co., Ltd. (hereinafter
referred to as Guoda Drugstore), and the factoring return of unrecoverable account receivable increased in the Period;
5. Finance costs: an increase of 21.6634 million Yuan on a year-on-year basis, with a growth rate of 74.67%, mainly because paying a
large amount of equity acquisition consideration in 2020, resulting in a reduction in bank deposit, and the interest from bank deposit
declined correspondingly, and the interest expenses on supply chain financing increased on a y-o-y basis;
6. Investment income: an increase of 48.6294 million Yuan on a year-on-year basis, with a growth rate of 113.95%, mainly because
the investment income from associated enterprise increased from a year earlier;
7. Impairment losses: an increase of 1.8901 million Yuan on a year-on-year basis, with a growth rate of 118.24%, mainly because
provision for falling price of inventories increased on a y-o-y basis;
8. Gain on disposal of assets: an increase of 0.5332 million Yuan on a year-on-year basis, with a growth rate of 204.07%, mainly due
to the gains of disposal of the right-of-use assets from retail store lease surrender;
9. Non-operating income: an increase of 4.5591 million Yuan on a year-on-year basis, with a growth rate of 251.64%, mainly because
written off the money not required to be paid in the Period;
10. Non-operating expenses: a decrease of 1.1396 million Yuan on a year-on-year basis, with a growth rate of -66.63%, mainly
because the amercement outlay declined in the Period;
11. Net profit: an increase of 94.4755 million Yuan on a year-on-year basis, with a growth rate of 32.02%, mainly because operation
in the Period has a growth performance, soaring operation income makes the gross profit increased and the investment income from
associated enterprise increased from a year earlier;
12. Profit or loss from continuing operations: an increase of 94.4755 million Yuan on a year-on-year basis, with a growth rate of
32.02%, mainly because operation in the Period has a growth performance, soaring operation income makes the gross profit
increased and the investment income from associated enterprise increased from a year earlier;
13. Net profit attributable to owners of the parent company: an increase of 79.9999 million Yuan on a year-on-year basis, with a
growth rate of 32.15 %, mainly because operation in the Period has a growth performance, soaring operation income makes the gross
profit increased and the investment income from associated enterprise increased from a year earlier;
14. Net profit attributable to non-controlling interests: an increase of 14.4755 million Yuan on a year-on-year basis, with a growth
rate of 31.27%, mainly because the subsidiary Guoda Drugstore’s net profit attributable to the owners of the parent company
increased year-on-year, correspondingly the minority shareholder’s gains/losses attributable to the group’s strategic investor
Walgreens Boots Alliance (Hong Kong) Investments Limited (hereinafter referred to as "WBA") increased ;
8
15. Other comprehensive income, net of tax: an increase of 84,503.76Yuan on a year-on-year basis, with a growth rate of 100.00%,
mainly because other comprehensive income of associates changed during the current period;
16. Other comprehensive income attributable to shareholders of owners of the parent, net of tax: an increase of 84,503.76 Yuan on a
year-on-year basis, with a growth rate of 100.00%, mainly because other comprehensive income of associates changed during the
current period;
17. Other comprehensive income that may be reclassified to profit or loss: an increase of 84,503.76 Yuan on a year-on-year basis,
with a growth rate of 100.00%, mainly due to the other comprehensive income available for transfer to profit/loss arising from
associates in the Period;
18. Total comprehensive income: an increase of 94.56 million Yuan on a year-on-year basis, with a growth rate of 32.04%, mainly
due to the relatively good operating growth in the current period, gross profit increased for the soaring operation income, and the
investment income from associates increased on a y-o-y basis;
19. Total comprehensive income attributable to owners of the parent: an increase of 80.0844 million Yuan on a year-on-year basis,
with a growth rate of 32.19%, mainly due to the relatively good operating growth in the current period, gross profit increased for the
soaring operation income, and the investment income from associates increased on a y-o-y basis;
20. Total comprehensive income attributable to non-controlling interests: an increase of 14.4755 million Yuan on a year-on-year basis,
with a growth rate of 31.27%, mainly because the net profit attributable to owners of parent company from subsidiary Guoda
Drugstore has an increased from a year earlier, and correspondingly the minority shareholder’s gains/losses attributable to the group’s
strategic investor WBA increased ;
21. Basic earnings per share: an increase of 0.19 Yuan/share on a year-on-year basis, with a growth rate of 32.76%, mainly due to the
relatively good operating growth in the current period, gross profit increased for the soaring operation income, and the investment
income from associates increased on a y-o-y basis, therefore, the net profit attributable to shareholders of listed company increased
32.15% from a year earlier, basic EPS growth correspondingly with 32.76% up;
22. Diluted earnings per share: an increase of 0.19 Yuan/share on a year-on-year basis, with a growth rate of 32.76%, mainly due to
the relatively good operating growth in the current period, gross profit increased for the soaring operation income, and the investment
income from associates increased on a y-o-y basis, therefore, the net profit attributable to shareholders of listed company increased
32.15% from a year earlier, diluted EPS growth correspondingly with 32.76% up;
23. Receipts of taxes and surcharges refunds: an increase of 4.8427 million Yuan on a year-on-year basis, with a growth rate of
624.66%, mainly due to the receipt of overpaid corporate income tax rebates in previous years;
24. Other cash receipts relating to operating activities: a decrease of 223.6696 million Yuan on a year-on-year basis, with a growth
rate of -51.61%, mainly due to the year-on-year decrease in special reserve funds received in this period;
25. Net cash flows from operating activities: an increase of 381.5248 million Yuan on a year-on-year basis, with a growth rate of
55.43%, mainly due to the increase in operating income, the cash received from the sale of goods and the provision of labor services
increased accordingly;
26. Cash receipts from returns of investments: an increase of 2.9974 million Yuan on a year-on-year basis, with a growth rate of
100.00%, mainly because the company received the withdrawal funds from the Sinopharm Zhongjin Medical Industry Fund
investment project in the period, and there was no such matter in the same period last year;
27. Cash received from returns on investments: an increase of 3.5996 million Yuan on a year-on-year basis, with a growth rate of
100.00%, mainly because the company received dividends from Sinopharm Zhongjin Medical Industry Fund project investment in
the period, and there was no such matter in the same period last year;
28. Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets: an increase of 0.2197 million Yuan
on a year-on-year basis, with a growth rate of 204.49%, mainly due to the cash received from the disposal of fixed assets increased in
the period;
29. Other cash receipts relating to investing activities: a decrease of 22 million Yuan on a year-on-year basis, with a growth rate of
-100.00%, mainly because at same period last year, the Pudong New Area of Shanghai Pharmaceutical Medicine Ltd was combined
under the same control by the subsidiary of the company-Guoda Drugstore, and recovery of the balance originally collected in the
9
cash pool of its original parent company, while there was no such matter in the current period;
30. Total cash inflows from investing activities: a decrease of 15.1833 million Yuan on a year-on-year basis, with a growth rate of
-68.68%, mainly because at same period last year, the Pudong New Area of Shanghai Pharmaceutical Medicine Ltd was combined
under the same control by the subsidiary of the company-Guoda Drugstore, and recovery of the balance originally collected in the
cash pool of its original parent company, while there was no such matter in the current period;
31. Cash payments for investments: an increase of 15.7387 million Yuan on a year-on-year basis, with a growth rate of 138.78%,
mainly due to the year-on-year increase in the payment of store redemption fees by Guoda Drugstore, a subsidiary of the company;
32. Net cash payments for acquisition of subsidiaries and other business units: a decrease of 591.7232 million Yuan on a year-on-year
basis, with a growth rate of -89.00%, mainly because payment for the acquisition of the subsidiary from Guoda Drugstore in the
current period has decreased compared with the same period last year;
33. Other cash payments relating to investing activities: a decrease of 41.3645 million Yuan on a year-on-year basis, with a growth
rate of -100.00%, mainly because the payment of equity acquisition for previous year has been paid at same period last year, while
there was no such matter in this period;
34. Total cash outflows from investing activities: a decrease of 605.5959 million Yuan on a year-on-year basis, with a growth rate of
-78.87%, mainly because payment for the acquisition of the subsidiary from Guoda Drugstore in the current period has decreased
compared with the same period last year;
35. Net cash flow from investment activities: an increase of 590.4126 million Yuan on a year-on-year basis, with a growth rate of
79.18%, mainly because payment for the acquisition of the subsidiary from Guoda Drugstore in the current period has decreased
compared with the same period last year;
36. Cash proceeds from investments by others: an increase of 5.88 million Yuan on a year-on-year basis, with a growth rate of
100.00%, mainly due to the receipt of investment funds from minority shareholders in this period, while there was no such matter in
the same period last year;
37. Cash received from borrowing: an increase of 281.1937 million Yuan on a year-on-year basis, with a growth rate of 98.25%,
mainly because the bank loans received during the current period increased;
38. Total cash inflows from financing activities: an increase of 247.4363 million Yuan on a year-on-year basis, with a growth rate of
39.70%, mainly because the bank loans received during the current period increased;
39. Other cash payments relating to financing activities: a decrease of 227.8233 million Yuan on a year-on-year basis, with a growth
rate of -48.10%, mainly due to the investment amount paid for merger the Pudong New Area of Shanghai Pharmaceutical Medicine
Ltd under the same control by the subsidiary of the company-Guoda Drugstore at same period last year,while there was no such
matter in the current period;
40. Net cash flows from financing activities: an increase of 445.6404 million Yuan on a year-on-year basis, with a growth rate of
780.23%, mainly because bank loans received in the Period increased and at same period last year, the investment amount are paid
for combined the Pudong New Area of Shanghai Pharmaceutical Medicine Ltd under the same control by Guoda Drugstore, there
was no such matter in the current period;
41. Effect of exchange rate changes on cash and cash equivalents: a decrease of 2,805.98 Yuan on a year-on-year basis, with a growth
rate of -768.34%, mainly due to the impact of exchange rate changes;
42. Net increase in cash and cash equivalents: an increase of 1,417.5751 million Yuan on a year-on-year basis, with a growth rate of
95.07%, mainly due to the increase in operating income, the cash received from the sale of goods and the provision of labor services
increased accordingly; and the payment for subsidiary acquisition from subsidiary Guoda Drugstore declined from a year earlier.
43. Cash and cash equivalents at beginning of the year: a decrease of 3,020.9579 million Yuan on a year-on-year basis, with a growth
rate of -35.85%, mainly because the company paid a large amount of equity purchase consideration in 2020, resulting in a decrease in
the balance of cash and cash equivalents at the beginning of the year.
10
II. Analysis and explanation of significant events and their influence and solutions
□Applicable √Not applicable
Progress of shares buy-back
□Applicable √Not applicable
Implementation progress of the reduction of repurchases shares by centralized bidding
□Applicable √Not applicable
III. Commitments completed in Period and those without completed till end of the Period
from actual controller, shareholders, related parties, purchaser and companies
□ Applicable √ Not applicable
The Company has no commitments completed in Period and those without completed till end of the Period from actual controller,
shareholders, related parties, purchaser and companies.
IV. Financial asset investment
1. Securities investment
□ Applicable √ Not applicable
No security investment in the Period.
2. Derivative investment
□ Applicable √ Not applicable
No derivative investment in the Period.
V. Progress of investment projects with raised funds
□ Applicable √ Not applicable
VI. Prediction of business performance from January – June 2021
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
□ Applicable √ Not applicable
VII. Major contracts for daily operations
□ Applicable √ Not applicable
VIII. Trust financing
□ Applicable √ Not applicable
11
No trust financing in the Period.
IX. Guarantee outside against the regulation
□Applicable √Not applicable
The Company had no guarantee outside against the regulation in the period.
X. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
The Company had no non-operational fund occupation form controlling shareholders and its related party in the period.
XI. Registration form for receiving research, communication and interview in the report
period
□Applicable √Not applicable
The Company had no receiving research, communication or interview in the report period.
12
Section IV. Financial Statement
I. Financial Statement
1. Consolidate Balance Sheet
Prepared by China National Accord Medicines Corporation Ltd.
March 31, 2021
In RMB
Item March 31, 2021 December 31, 2020
Current assets:
Cash and bank balances 5,840,135,730.11 5,998,204,295.87
Settlement provisions
Capital lent
Trading financial assets
Derivative financial assets
Notes receivable 607,883,873.14 622,115,477.04
Accounts receivable 16,780,830,492.03 13,799,971,014.22
Receivable financing 431,981,996.92 1,404,987,700.38
Advances to suppliers 590,101,876.56 480,313,574.71
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other receivables 628,399,715.32 535,228,747.69
Including: Interest receivable
Dividend receivable
Buying back the sale of financial
assets
Inventories 7,219,060,669.89 6,285,010,674.46
Contract assets 15,417,457.50 15,177,731.64
Assets held for sale
Non-current asset due within one
year
Other current assets 123,484,117.46 121,082,863.45
13
Total current assets 32,237,295,928.93 29,262,092,079.46
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 2,379,500,628.90 2,287,019,627.99
Other equity instrument
99,488,340.28 99,488,340.28
investment
Other non-current financial assets 117,974,908.51 120,972,350.24
Investment properties 125,907,819.38 127,444,379.94
Fixed assets 843,319,270.30 854,191,083.27
Construction in progress 49,119,148.89 46,631,190.23
Productive biological asset
Oil and gas asset
Right-of-use assets 2,410,848,611.31 2,356,952,392.99
Intangible assets 722,392,930.27 734,345,179.40
Expense on Research and
Development
Goodwill 2,975,269,022.11 2,747,375,281.11
Long-term prepaid expenses 489,002,945.70 457,705,276.09
Deferred tax assets 97,737,555.41 92,118,767.81
Other non-current asset 472,896,305.93 408,197,522.84
Total non-current asset 10,783,457,486.99 10,332,441,392.19
Total assets 43,020,753,415.92 39,594,533,471.65
Current liabilities:
Short-term borrowings 3,947,852,429.69 1,612,187,020.12
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Notes payable 6,411,005,653.20 7,520,165,274.69
Accounts payable 9,161,357,988.53 7,697,451,142.50
Receipts in advance 10,089,304.61 12,352,466.64
Contract liabilities 382,788,595.61 368,600,357.14
14
Selling financial asset of
repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
Employee benefits payable 241,214,266.47 357,212,047.10
Tax payable 262,688,620.52 316,867,149.16
Other payables 2,098,779,260.44 1,599,166,881.14
Including: Interest payable 25,916,885.64 35,572,620.82
Dividend payable 6,389,320.96 6,389,320.96
Commission charge and
commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within
767,942,185.69 748,732,059.89
one year
Other current liabilities 27,334,439.97 24,787,078.55
Total current liabilities 23,311,052,744.73 20,257,521,476.93
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 31,637,173.89 31,637,173.89
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liabilities 1,304,731,241.22 1,303,054,163.90
Long-term payables 6,938,189.00 6,938,189.00
Long-term employee benefits
1,319,000.00 1,319,000.00
payable
Provisions 68,808,166.79 68,808,166.79
Deferred income 94,199,523.33 89,843,583.37
Deferred tax liabilities 201,334,176.46 205,921,408.66
Other non-current liabilities 675,330,586.26 740,862,989.59
Total non-current liabilities 2,384,298,056.95 2,448,384,675.20
Total liabilities 25,695,350,801.68 22,705,906,152.13
15
Owner’s equity:
Share capital 428,126,983.00 428,126,983.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital surplus 4,372,458,724.43 4,372,504,053.72
Less: Inventory shares
Other comprehensive income 38,567,521.48 38,483,017.72
Reasonable reserve
Surplus reserve 214,063,491.50 214,063,491.50
Provision of general risk
Retained earnings 9,223,945,666.63 8,895,145,106.39
Total equity attributable to owners of
14,277,162,387.04 13,948,322,652.33
the parent
Non-controlling interests 3,048,240,227.20 2,940,304,667.19
Total equity 17,325,402,614.24 16,888,627,319.52
Total liabilities and equity 43,020,753,415.92 39,594,533,471.65
Legal Representative: Lin Zhaoxiong
Person in charge of accounting works: Gu Guolin
Person in charge of accounting institute: Wang Ying
2. Balance Sheet of Parent Company
In RMB
Item March 31, 2021 December 31, 2020
Current assets:
Cash and bank balances 2,918,160,838.33 3,020,909,473.71
Trading financial assets
Derivative financial assets
Notes receivable 27,981,836.47 30,984,449.44
Accounts receivable 682,802,750.34 609,575,301.13
Receivables financing 18,049,841.43 30,248,631.32
Advances to suppliers 3,878,976.70 6,722,204.59
16
Other receivables 3,762,424,972.63 3,562,309,346.07
Including: Interest receivable
Dividend receivable
Inventories 217,381,506.64 172,275,777.63
Contract assets 127,994.54 139,154.54
Assets held for sale
Non-current assets maturing within
one year
Other current assets 39,482.38 39,482.38
Total current assets 7,630,848,199.46 7,433,203,820.81
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments 7,965,880,218.99 7,873,668,245.16
Investment in other equity
instrument
Other non-current financial assets 117,974,908.51 120,972,350.24
Investment properties 1,444,115.41 1,452,132.04
Fixed assets 12,387,613.23 13,279,902.76
Construction in progress
Productive biological assets
Oil and natural gas assets
Right-of-use assets 4,863,467.72 5,142,755.88
Intangible assets 4,687,410.11 4,622,268.00
Research and development costs
Goodwill
Long-term deferred expenses 4,102,834.80 4,335,802.92
Deferred tax assets 9,218,485.21 9,025,057.52
Other non-current assets 12,304,025.21 12,967,715.50
Total non-current assets 8,132,863,079.19 8,045,466,230.02
Total assets 15,763,711,278.65 15,478,670,050.83
Current liabilities
Short-term borrowings 739,174,743.69 157,892,942.24
Trading financial liability
17
Derivative financial liability
Notes payable 295,146,453.96 756,364,719.49
Accounts payable 417,332,303.36 407,275,713.49
Accounts received in advance
Contract liabilities 8,613,252.72 1,807,562.61
Employee benefits payable 25,041,540.04 36,672,344.48
Tax payables 17,831,732.43 13,975,905.04
Other payables 3,204,307,483.05 3,167,152,583.28
Including: Interest payable 217,961.01 170,214.19
Dividend payable
Liability held for sale
Non-current liabilities due within
1,067,368.38 1,056,120.58
one year
Other current liabilities 1,484,550.54 636,200.63
Total current liabilities 4,709,999,428.17 4,542,834,091.84
Non-current liabilities:
Long-term borrowings 31,637,173.89 31,637,173.89
Bonds payable
Including: preferred stock
Perpetual capital
securities
Lease liabilities 4,184,170.00 4,455,967.97
Long-term payables 800,000.00 800,000.00
Long term employee compensation
payable
Accrued liabilities
Deferred income 715,398.06 827,658.18
Deferred income tax liabilities
Other non-current liabilities 10,538.58 11,042.52
Total non-current liabilities 37,347,280.53 37,731,842.56
Total liabilities 4,747,346,708.70 4,580,565,934.40
Owners’ equity:
Share capital 428,126,983.00 428,126,983.00
Other equity instrument
Including: preferred stock
18
Perpetual capital
securities
Capital surplus 4,467,946,102.30 4,467,991,431.59
Less: Inventory shares
Other comprehensive income -43,529.56 -128,033.32
Special reserve
Surplus reserve 214,063,491.50 214,063,491.50
Retained earnings 5,906,271,522.71 5,788,050,243.66
Total shareholders’ equity 11,016,364,569.95 10,898,104,116.43
Total liabilities and shareholders’ equity 15,763,711,278.65 15,478,670,050.83
3. Consolidated Profit Statement
In RMB
Item Current period Last period
I. Total operating income 16,049,966,325.75 12,824,196,278.66
Including: Operating revenue 16,049,966,325.75 12,824,196,278.66
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 15,663,170,079.60 12,488,521,944.35
Including: Operating cost 14,260,591,404.46 11,370,970,742.96
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
Tax and surcharges 33,744,327.20 29,109,421.79
Selling expenses 1,080,543,941.75 844,624,826.78
19
Administrative expense 237,615,927.36 214,805,866.61
R&D expense
Finance costs 50,674,478.83 29,011,086.21
Including: Interest
68,683,688.49 60,067,901.98
expense
Interest income 18,058,735.03 29,094,889.11
Add: other income 13,655,624.72 13,133,111.50
Investment income (Loss is
91,305,476.74 42,676,071.54
listed with “-”)
Including: Investment income
92,441,826.44 60,020,272.13
from associates
Income from the
derecognition of financial assets
-4,735,905.31 -18,342,866.43
measured at amortised cost (Loss is listed
with “-”)
Exchange income (Loss is
listed with “-”)
Net exposure hedging income
(Loss is listed with “-”)
Income from change of fair
value (Loss is listed with “-”)
Credit impairment losses (Loss
-17,197,080.80 -16,845,052.13
is listed with “-”)
Impairment losses (Loss is
-3,488,500.85 -1,598,436.71
listed with “-”)
Gain on disposal of assets
271,889.26 -261,264.83
(Loss is listed with “-”)
III. Operating profit (Loss is listed with
471,343,655.22 372,778,763.68
“-”)
Add: Non-operating income 6,370,834.89 1,811,729.05
Less: Non-operating expense 570,737.09 1,710,329.13
IV. Total profit 477,143,753.02 372,880,163.60
Less: Income tax expense 87,580,022.00 77,791,885.48
V. Net profit (Net loss is listed with “-”) 389,563,731.02 295,088,278.12
(i) Classify by business continuity
1. Profit or loss from continuing
389,563,731.02 295,088,278.12
operations
20
2.termination of net profit (net loss
listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owners of
328,800,560.24 248,800,655.88
the parent
2. Non-controlling interests 60,763,170.78 46,287,622.24
VI. Other comprehensive income, net of
84,503.76
tax
Other comprehensive income
attributable to shareholders of owners of 84,503.76
the parent, net of tax
(i) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income
84,503.76
that may be reclassified to profit or loss
1. Other comprehensive
income using the equity method that may 84,503.76
be reclassified to profit or loss
2.Change of fair value of
other debt investment
3.Amount of financial assets
re-classify to other comprehensive
income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging reserve
6.Translation differences
arising on translation of foreign currency
21
financial statements
7.Other
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income 389,648,234.78 295,088,278.12
Total comprehensive income
328,885,064.00 248,800,655.88
attributable to owners of the parent
Total comprehensive income
60,763,170.78 46,287,622.24
attributable to non-controlling interests
VIII. Earnings per share:
(i) Basic earnings per share 0.77 0.58
(ii) Diluted earnings per share 0.77 0.58
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 Yuan at last period for combined party
Legal Representative: Lin Zhaoxiong
Person in charge of accounting works: Gu Guolin
Person in charge of accounting institute: Wang Ying
4. Profit Statement of Parent Company
In RMB
Item Current period Last period
I. Operating revenue 1,031,796,119.30 883,090,683.07
Less: Operating costs 991,971,454.23 850,760,365.77
Taxes and surcharge 1,161,587.51 1,011,193.50
Selling expenses 16,856,699.35 16,302,891.84
Administrative expenses 20,817,040.62 22,374,408.72
R&D expenses
Finance costs -29,303,964.67 -22,842,676.94
Including: interest expense 10,689,978.60 9,151,290.82
Interest income 40,183,409.94 32,061,791.21
Add: other income 401,103.90 293,056.51
Investment income (Loss is
95,583,979.88 60,592,685.27
listed with “-”)
22
Including: Investment income
92,172,799.36 60,134,457.45
on affiliated Company and joint venture
Income from the
derecognition of financial assets
-188,375.09 -540,438.02
measured at amortised cost (Loss is
listed with “-”)
Net exposure hedging income
(Loss is listed with “-”)
Changing income of fair
value (Loss is listed with “-”)
Credit impairment losses
-973,888.89
(Loss is listed with “-”)
Impairment losses (Loss is
-561,173.91 217,422.14
listed with “-”)
Gain on disposal of assets
22,815.68
(Loss is listed with “-”)
II. Operating profit (Loss is listed with
125,740,027.81 75,613,775.21
“-”)
Add: Non-operating income 1,645.98 1,578.11
Less: Non-operating expense
III. Total Profit (Loss is listed with “-”) 125,741,673.79 75,615,353.32
Less: Income tax expense 7,520,394.74 3,620,557.51
IV. Net profit (Net loss is listed with
118,221,279.05 71,994,795.81
“-”)
(i) Profit or loss from continuing
118,221,279.05 71,994,795.81
operations (net loss listed with ‘-”)
(ii) termination of net profit (net
loss listed with ‘-”)
V. Other comprehensive income, net of
84,503.76
tax
(i) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss
23
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income
84,503.76
that may be reclassified to profit or loss
1. Other comprehensive
income using the equity method that 84,503.76
may be reclassified to profit or loss
2.Change of fair value of
other debt investment
3.Amount of financial
assets re-classify to other
comprehensive income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging
reserve
6.Translation differences
arising on translation of foreign
currency financial statements
7.Other
VI. Total comprehensive income 118,305,782.81 71,994,795.81
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated Cash Flow Statement
In RMB
Item Current period Last period
I. Cash flows from operating activities:
Cash received from sales of good
15,194,724,502.12 13,201,992,638.81
or rendering of services
Net increase of customer deposit
and interbank deposit
Net increase of loan from central
24
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
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Net cash received by agents in sale
and purchase of securities
Receipts of taxes and surcharges
5,617,976.11 775,261.38
refunds
Other cash receipts relating to
209,745,502.46 433,415,062.71
operating activities
Total cash inflows from operating
15,410,087,980.69 13,636,182,962.90
activities
Cash payments for goods and
14,094,028,880.65 12,827,089,312.11
services
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
Cash paid for original insurance
contract compensation
Net increase of capital lent
Cash paid for interest, commission
charge and commission
Cash paid for bonus of guarantee
slip
Cash payments to and on behalf of
894,497,321.19 703,922,606.95
employees
Payments of all types of taxes and 354,054,737.85 368,976,475.15
25
surcharges
Other cash payments relating to
374,256,040.24 424,468,417.32
operating activities
Total cash outflows from operating
15,716,836,979.93 14,324,456,811.53
activities
Net cash flows from operating activities -306,748,999.24 -688,273,848.63
II. Cash flows from investing activities:
Cash receipts from returns of
2,997,441.73
investments
Cash received from returns on
3,599,555.61
investments
Net cash receipts from disposal of
fixed assets, intangible assets and other 327,119.50 107,430.91
long-term assets
Net cash received from disposal of
subsidiaries and other units
Other cash receipts relating to
22,000,000.00
investing activities
Total cash inflows from investing
6,924,116.84 22,107,430.91
activities
Cash payments to acquire fixed
assets, intangible assets and other 61,960,648.98 50,207,587.50
long-term assets
Cash payments for investments 27,079,733.00 11,341,032.15
Net increase of mortgaged loans
Net cash payments for acquisition
73,159,498.29 664,882,681.20
of subsidiaries and other business units
Other cash payments relating to
41,364,521.11
investing activities
Total cash outflows from investing
162,199,880.27 767,795,821.96
activities
Net cash flows from investing activities -155,275,763.43 -745,688,391.05
III. Cash flows from financing activities
Cash proceeds from investments
5,880,000.00
by others
Incl: Cash receipts from capital
contributions from non-controlling 5,880,000.00
interests of subsidiaries
26
Cash receipts from borrowings 567,395,696.23 286,202,002.73
Other cash receipts relating to
297,416,755.19 337,054,182.02
financing activities
Total cash inflows from financing
870,692,451.42 623,256,184.75
activities
Cash repayments for debts 177,254,802.73 142,100,000.00
Cash payments for distribution of
dividends or profit and interest 59,139,307.66 64,675,017.27
expenses
Incl: Dividends or profit paid to
non-controlling shareholders of 555,825.80 1,558,470.71
subsidiaries
Other cash payments relating to
245,774,326.14 473,597,592.59
financing activities
Total cash outflows from financing
482,168,436.53 680,372,609.86
activities
Net cash flows from financing activities 388,524,014.89 -57,116,425.11
IV. Effect of foreign exchange rate
-2,440.78 365.20
changes on cash and cash equivalents
V. Net increase of cash and cash
-73,503,188.56 -1,491,078,299.59
equivalents
Add: Cash and cash equivalents at
5,405,113,257.99 8,426,071,170.16
beginning of the year
VI. Cash and cash equivalents at end of
5,331,610,069.43 6,934,992,870.57
year
6. Cash Flow Statement of Parent Company
In RMB
Item Current period Last period
I. Cash flows from operating activities:
Cash receipts from the sale of
1,022,932,449.00 1,062,518,589.11
goods and the rendering of services
Write-back of tax received
Other cash receipts relating to
14,576,152.93 22,736,474.18
operating activities
Total cash inflows from operating
1,037,508,601.93 1,085,255,063.29
activities
27
Cash payments for goods and
1,132,644,884.96 1,207,589,273.35
services
Cash payments to and on behalf of
41,055,249.91 39,968,369.74
employees
Payments of all types of taxes and
12,594,584.85 20,509,993.91
surcharges
Other cash payments relating to
5,207,747.54 14,820,413.79
operating activities
Total cash outflows from operating
1,191,502,467.26 1,282,888,050.79
activities
Net cash flows from operating activities -153,993,865.33 -197,632,987.50
II. Cash flows from investing activities:
Cash receipts from returns of
2,997,441.73 13,636,447.00
investments
Cash receipts from returns on
3,599,555.61
investments
Net cash receipts from disposal of
fixed assets, intangible assets and other 233,663.00
long-term assets
Net cash received from disposal of
subsidiaries and other units
Other cash receipts relating to
721,955,173.97 602,709,245.48
investing activities
Total cash inflows from investing
728,785,834.31 616,345,692.48
activities
Cash paid for acquisition of fixed
assets, intangible assets and other 710,954.22 670,760.44
long-term assets
Cash paid for investment
Net cash received from
subsidiaries and other units obtained
Other cash payments relating to
895,600,000.00 792,214,521.11
investing activities
Total cash outflows from investing
896,310,954.22 792,885,281.55
activities
Net cash flows from investing activities -167,525,119.91 -176,539,589.07
III. Cash flows from financing activities
Cash received from absorbing
28
investment
Cash receipts from borrowings 210,000,000.00 24,694,789.52
Other cash receipts relating to
8,801,174,486.16 8,004,663,212.88
financing activities
Total cash inflows from financing
9,011,174,486.16 8,029,358,002.40
activities
Cash repayments for debts 22,594,789.52 12,100,000.00
Cash payments for distribution of
10,931,189.66 9,363,675.10
dividends, profit or interest expenses
Other cash payments relating to
8,758,875,716.34 7,724,025,779.65
financing activities
Total cash outflows from financing
8,792,401,695.52 7,745,489,454.75
activities
Net cash flows from financing activities 218,772,790.64 283,868,547.65
IV. Effect of foreign exchange rate
-2,440.78 365.20
changes on cash and cash equivalents
V. Net increase of cash and cash
-102,748,635.38 -90,303,663.72
equivalents
Add: Cash and cash equivalents at
3,020,909,473.71 2,894,333,956.38
beginning of the year
VI. Cash and cash equivalents at end of
2,918,160,838.33 2,804,030,292.66
year
II. Explanation on financial statement adjustment
1. Financial statement adjustment at the beginning of the first year when implementation of new leasing
rules from 2021
□Applicable √Not applicable
2. Retrospective adjustment of the comparative data for initial new leasing rules from 2021
□Applicable √Not applicable
III. Audit report
Whether the 1st quarterly report has been audited or not
□Yes √ No
1Q report of the Company is unaudited.
29
China National Accord Medicines Corporation Ltd.
Legal Representative: Lin Zhaoxiong
24 April 2021
30
