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公司公告

一致B:2021年第一季度报告全文(英文版)2021-04-24  

                        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