丽珠医药集团股份有限公司 2013 年半年度报告全文
Livzon Pharmaceutical Group Inc.
2013 Semi-Annual Report
2013-45
August 2013
1
丽珠医药集团股份有限公司 2013 年半年度报告全文
Section I Important Notice, Content and Interpretation
The Board of Directors (BOD), Board of Supervisors (BOS), directors, supervisors
and senior executives hereby guarantee that the data in the present report contain
no false representation, misleading statements and serious omissions, and shall be
severally and jointly liable for the authenticity, accuracy and completeness of the
content.
All directors of the company have attended the meeting of Board of Directors
examining this semi-annual report.
The company will not distribute the cash bonus, bonus shares, nor increase the
reserve to share capitals.
Mr. Zhu Baoguo, Chairman of the company, Mr. An Ning, the principal in charge of
accounting, and Ms. Si Yanxia, the principal of the Accounting Department hereby
declare: We guarantee the authenticity and completeness of the financial statements
in this semi-annual report.
The forward-looking statements such as the future plans in this semi-annual report
do not constitute the actual commitments of the company to investors, and the
investors should pay attention to the investment risks.
This semi-annual report is issued in Chinese and English versions. In case that there
is any ambiguity in the interpretation of two versions, the Chinese version will prevail.
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丽珠医药集团股份有限公司 2013 年半年度报告全文
Content
Section I Important Notice, Content and Interpretation .............................................................................. 2
Section II Brief Introduction of Company ....................................................................................................... 5
Section III Financial Highlights.......................................................................................................................... 7
Section IV Report of the Board of Directors ................................................................................................ 10
Section V Important Events.............................................................................................................................. 23
Section VI. Change of Share Capital and Particulars of Shareholders................................................. 35
Section VII Particulars of Directors, Supervisors and Senior Executives ........................................... 40
Section VIII Financial Report ......................................................................................................................... 172
3
丽珠医药集团股份有限公司 2013 年半年度报告全文
Interpretation
Items to be defined Mean Definitions
China Securities Regulatory Commission Mean China Securities Regulatory Commission
Shenzhen Stock Exchange Mean Shenzhen Stock Exchange
The company, this company Mean Livzon Pharmaceutical Group Inc.
Joincare Mean Joincare Pharmaceutical Group Industry Co., Ltd
Tiancheng Industry Mean Tiancheng Industry Co., Ltd
Begol Mean Guangzhou Begol Trading Corporation
Haibin Pharmaceutical Mean Shenzhen Haibin Pharmaceutical Co., Ltd
Livzon Reagent Mean Zhuhai Livzon Reagent Co., Ltd
Dankang Company Mean Zhuhai Livzon Dankang Biotechnology Co., Ltd
Limin Pharmaceutical Co., Ltd Mean Limin Pharmaceutical Co., Ltd under Livzon Group
Livzon Pharmaceutical Factory Mean Livzon Pharmaceutical Factory under Livzon Group
Change of listing place of domestically foreign shares and listing in
Transfer from B-share to H-share Mean the main board of Hongkong Stock Exchange and listing transaction
projects in the mode of introduction
Company Law Mean Company Law of the People’s Republic of China
Securities Law Mean Securities Law of the People’s Republic of China
Listing Rules of Stock Mean Listing Rules of Shenzhen Stock Exchange (revised on 2012)
Juchao website Mean Juchao Information Website (http://www.cninfo.com.cn/)
Report period Mean January 1, 2013 – June 30, 2013
RBM Yuan, RMB 1000 Yuan, RMB 10000 RBM Yuan, RMB 1000 Yuan, RMB 10000 Yuan and RMB 100
Mean
Yuan and RMB 100 million Yuan million Yuan
4
丽珠医药集团股份有限公司 2013 年半年度报告全文
Section II Brief Introduction of Company
I. Brief Introduction of Company
Stock abbreviation Livzon Group, Livzon B Stock code 000513, 200513
Stock exchange for listing
Shenzhen Stock Exchange
of the Company
Chinese name 丽珠医药集团股份有限公司
Chinese abbreviation (if
丽珠集团
any)
English name (if any) LIVZON GROUP
English abbreviation (if any) LIVZON PHARMACEUTICAL GROUP INC.
Legal representative Zhu Baoguo
II. Contact persons and contact details
Representative of stock
Secretary of BOD
affairs
Name Li Rucai Wang Shuguang
Contact address Livzon Building, No. 132, Guihua North Livzon Building, No. 132, Guihua North
Road, Gongbei, Zhuhai, Guangdong Road, Gongbei, Zhuhai, Guangdong
Province Province
Telephone (0756)8135888 (0756)8135888
Fax (0756)8886002 (0756)8886002
Email lirucai2008@livzon.com.cn wangshuguang2008@livzon.com.cn
III. Other details
1. Contact details
Have the registration address, office address, postal code, website and email of the company been changed?
□ Applicable √ Inapplicable
There are no changes about the registration address, office address, postal code, website and email of the company in
the report period. For more details, please see the 2012 annual report.
2. Information disclosure and location for filing the report
Have the information disclosure and location for filing the report been changed in the report period?
5
丽珠医药集团股份有限公司 2013 年半年度报告全文
□ Applicable √ Inapplicable
There are no changes of the papers for information disclosure, website appointed by China Securities Regulatory
Commission for publishing the semi-annual report and location for filing the report. For more details, please see the 2012
annual report.
3. Registration changes
Have the registration details been changed in the report period?
□ Applicable √ Inapplicable
There are no changes of the registration date and address, registration No. of enterprise legal person business license,
tax registration No, and organization code, etc in the report period. For more details, please see the 2012 annual report.
4. Other relevant materials
Have the other relvant materials been changed in the report period?
□ Applicable √ Inapplicable
6
丽珠医药集团股份有限公司 2013 年半年度报告全文
Section III Financial Highlights
I. Main financial data in the report period
Are there any retrospective adjustments or restatement of accounting data for previous reporting years due to the
changes of accounting policies?
□ Yes √ No
Increase or decrease
Same period in previous compared with the same
In this report period
year period of previous year
(%)
Operating income(RMB Yuan) 2,162,261,822.40 1,884,997,175.44 14.71%
Net profit attributable to the
shareholders of listed companies (RMB 259,310,414.64 228,705,016.39 13.38%
Yuan)
Net profit attributable to the
shareholders of listed companies after
248,381,171.34 217,680,844.35 14.10%
deduction of non-recurring profit and
loss (RMB Yuan)
Net cash flows from operating activities
185,831,023.54 335,416,385.94 -44.60%
(RMB Yuan)
Basic profit per share (RMB
0.88 0.77 14.29%
Yuan/Share)
Diluted profit per share (RMB
0.88 0.77 14.29%
Yuan/Share)
Weighted average yield rate of net Up 0.41 percentage poi
8.27% 7.86%
assets (%) nts
Increase or decrease
End of the current period End of the previous year compared with the end of
previous year (%)
Total assets (RMB Yuan) 6,643,980,548.15 5,633,753,961.14 17.93%
Net asset attributable to the
shareholders of listed companies (RMB 3,117,420,292.03 3,008,015,808.63 3.64%
Yuan)
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丽珠医药集团股份有限公司 2013 年半年度报告全文
II. Accounting Data Difference between Domestic and Overseas Accounting
Standards
1. Net Profit and Net Asset Difference in Financial Reports disclosed in accordance with
International Accounting Standard and Chinese Accounting Standard
□ Applicable √ Inapplicable
2. Net Profit and Net Asset Difference in Financial Reports disclosed in accordance with
Overseas Accounting Standard and Chinese Accounting Standard
□ Applicable √ Inapplicable
3. Accounting Data Difference between Domestic and Overseas Accounting Standards
□ Applicable √ Inapplicable
III. Non-recurring profit and loss items and amounts
Unit:RMB Yuan
Item Amount Remarks
Profit and loss in disposal of non-current assets (including
325,316.11
the writing-off part of withdrawn asset depreciation reserve)
Governmental allowance accrued to the current profit and All governmental allowances
loss (except those that are closely related to the businesses received by the company and
12,883,755.38
of company, and are continuously granted based on the its subcompanies in the
certain standard quota or certain quantity) report period
Except the effective hedge business related to the normal
operation business of the company, the profit and loss in the
changes of fair values caused by the holding of tradable
financial assets and tradable financial liabilities as well as 135,791.51
the investment returns in disposal of tradable financial
assets, tradable financial liabilities and saleable financial
assets
Other net non-operating income and payment except the
367,300.32
above items
Minus: Effect of income tax 2,189,657.60
Effect of the minority of shareholders’ equities (after the
593,262.42
taxation)
Total 10,929,243.30 --
For the non-recurring profit and loss items that are defined in accordance the No. 1 Explanatory Announcement about
Information Disclosure of Companies Making Public Offering of Securities – Non-recurring Profit and Loss as well as the
8
丽珠医药集团股份有限公司 2013 年半年度报告全文
non-recurring profit and loss items that are defined as the recurring profit and loss items in accordance the No. 1
Explanatory Announcement about Information Disclosure of Companies Making Public Offering of Securities –
Non-recurring Profit and Loss, please explain the reasons
□ Applicable √ Inapplicable
9
丽珠医药集团股份有限公司 2013 年半年度报告全文
Section IV Report of the Board of Directors
I. Overview
In the report period, the company strengthens the management, comprehensively promote the refined
marketing, push the good management of production, strengthen the cost control, improve the operational
efficiency and a series of other measures to ensure that the company's operating performance will achieve
the sustained growth; meanwhile, continue to increase the research investment, optimize the R & D platform,
lay a solid foundation for achieving the company's strategic development goals.
In the report period, the Company, under the marketing approach that the company worked out at the
beginning of year and focusing on the “network construction, increase the sales volume to the hospitals,
customer maintenance”, strengthen the team building, strengthen the terminal examination, expand the
personnel recruitment, implement the marketing initiatives as per the products, regions, teams ,and further
consolidate and improve the company's marketing system, and achieve the company's objectives about key
products continuing to maintain a high growth rate.
In the report period, the company continued to increase the R & D investment, optimize the R & D platform,
strengthening the R & D management, ensure the smooth implementation of various research projects. In the
report period, the company actively followed the application work about clinical trials of Dankang project
AT132 products, as well as the registration and application work of Japanese encephalitis vaccine project,
and based on feedback opinions from approval authority, timely submit the relevant supplementary materials;
for other R & D projects: ilaprazole sodium injection project has obtained the clinical approval, and has
completed the trial of Phase I clinical samples and Phase I clinical pilot study, the blonanserin project has
completed the clinical trials and is now ready to apply for the production materials, and the remaining projects
are smoothly developing in accordance with the plans. In the patent application, the company has applied for
15 patents in China, 1 PCT patent, and got 8 patents.
In the report period, the company is still focusing on the working emphasis of “guarantee the quality, and
control the cost” in terms of production management. In addition to requesting all production enterprises to
continue to strictly implement the quality control management measures, the quality management
headquarters organized the special technical experts to perform the internal quality audit including the quality
control and materials management of production enterprises under it, and appoint the key personnel to go to
the secondary enterprises for giving the directions about quality technology, and solve the various quality
control issues. At the same time, the company continued to promote the good production, further strengthen
the comprehensive implementation of lean management system including the enhancement of target
responsibility processes, on-site management and leader standardization work, effectively realize the energy
saving and control the increase of production costs.
II. Analysis of Main Business
In the report period, the company main operating results and financial positions are listed as follows:
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丽珠医药集团股份有限公司 2013 年半年度报告全文
In the first half of 2013, the company achieved the operating income of RMB 2.1622618 billion Yuan, with an
increase of RMB 277.2646 million Yuan, up 14.71%; the main reason is that, the company continued to
strengthen the marketing management, constantly deepen the marketing, through the implementation of
market and product segmentation, intensive work, strengthen the promotions of key products, and prompte
the sustained rapid growth of preparation products (such as Chinese medicine preparations, Gonadotropic
hormone and digestive tract products).
In the first half of 2013, the company achieved the operating profit of RMB 308.5232 million Yuan, with an
increase of RMB 26.4550 million Yuan, up 9.38%. The main reason is that, although the company's main
business revenue grew dramatically, but the sales expenses and administrative expenses grew faster, so its
increase rate is less than the increase rate of incomes.
In the first half of 2013, the company achieved the net assets attributable to the shareholders of parent
company of RMB 259.3104 million Yuan, with an increase of RMB 30.6054 million Yuan, up 13.38%, the
company achieved the net profit attributable to the shareholders of listed companies after deduction of
non-recurring profit and loss of RMB 248.3812 million Yuan, with an increase of RMB 30.7004 million Yuan,
up 14.10%. the main reason is that, compared with the same period of previous year, after the company
acquired the equities of minority of shareholders of Limin Pharmaceutical Co., Ltd, the net assets attributable
to the shareholders of parent company increased correspondingly.
In the first half of 2013, the company had the sales expenses of RMB 825.1198 million Yuan, with an increase
of RMB 151.0963 million Yuan, up 22.42%. The main reason is that, due to the continuous change of sales
structure, the percentage of sales volume of preparation drugs has further increased, leading to the increase
of costs accordingly; the company management expenses are RMB 189.1712 million Yuan, with an increase
of RMB 31.5345 million Yuan, up0 20.00%. The main reason is the increase of research and development
efforts and the dramatical increase of research and development expenses; at the same time, the company,
while implementing the transfer project from B-shares to H-shares in the first half of year, paid part of the
project costs; the finance costs are RMB -10.7968 million Yuan, with an increase of RMB 262,600 Yuan from
RMB -11.0594 million Yuan, up 2.37%, which is basically consistent with the previous year.
In the first half of 2013, the company achieved the net amount of cash flow from the operating
activities of RMB 185.8310 million Yuan, with an decrease of RMB 149.5854 million Yuan, down 44.60%.
the main reasons are the increase of raw material procurement costs in the first half of year as well as the
increase of salaries paid to employees; The net amount of cash flow from the investment activities
is RMB -498.5561 million Yuan, with a decrease of RMB 85.4697 million Yuan, down 20.69%; the main
reason is the increase of the payments for acquiring and constructing the fixed assets of the
relocation project of new Livzon Pharmaceutical Factory under Livzon Group and Ningxia
Livzon Pharmaceutical Industry Park project. The net amount of cash flow from the
investment activities is RMB 547.5165 million Yuan, with an increase of RMB 1.0176313 billion Yuan, UP
216.46%. The main reason is the increase of all bank loans in the first half of year as well as the increase of
capital contributions from the minority of shareholders; meanwhile, compared with the same period of last
year, the cashes paid for debts decreased.
Changes of main financial data
Unit:RMB Yuan
Same period in Increase or
This report period Reasons for changes
previous year decrease (%)
Operating income 2,162,261,822.40 1,884,997,175.44 14.71% The main reason is the increase
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丽珠医药集团股份有限公司 2013 年半年度报告全文
of key preparation products.
The main reason is the sales
percentage increase of
Operating cost 808,839,135.50 748,752,436.28 8.02%
preparation products with high
gross profits.
The main reason is the sales
Sales expense 825,119,808.36 674,023,464.01 22.42% volume increase of preparation
products.
The main reason is the increase
in terms of the development
Management expense 189,171,222.87 157,636,704.20 20.00% and investment in the transfer
project from B-share to
H-share.
Financial expense -10,796,789.08 -11,059,371.29 2.37%
Income tax expense 52,423,967.25 47,671,992.09 9.97%
Development
102,990,000.00 70,361,000.00 46.37%
investment
The main reason is the increase
Net amount of cash
of payments for material
flow from the operating 185,831,023.54 335,416,385.94 -44.60%
purchase and payment for
activities
payrolls.
Net amount of cash The main reason is the increase
flow from the -498,556,093.13 -413,086,413.87 -20.69% of investments in all kinds of
investment activities fixed assets.
The main reason is the increase
Net amount of cash of all kinds of bank loans and
flow from the financing 547,516,524.88 -470,114,776.18 216.46% increase of share capitals
activities invested by the minority of
shareholders.
The main reason is the
Net increase of cash increase of cash flow in the
233,972,167.39 -546,713,586.10 142.8%
and cash equivalent financing activities in the report
period.
Details about whether there are any key changes about profit composition or sources in the report period?
□ Applicable √ Inapplicable
There are no key changes about profit composition or sources in the report period.
Details about whether the future development and plans disclosed by the prospectus, raising booklet and report about
asset reconstruction, etc continue to the report period.
□ Applicable √ Inapplicable
There are no future development and plans disclosed by the prospectus, raising booklet and report about asset
reconstruction, etc that continue to the report period.
12
丽珠医药集团股份有限公司 2013 年半年度报告全文
Details about the company reviewing the development of operation plans disclosed in the previous report within the report
period.
III. Composition of main business
The company specializes in the development, production and marketing of medicine products. The main products are
Bismuth Potassium Citrate Granules series, Shenqifuzheng injection, antivirus granules, Urofollitropin for Injection
(follicle stimulating), Kanglineng(Cefodizime Sodium for Injection), Lifukang (voriconazole), Lizhuwei (Valaciclovir
Hydrochloride Tablets), Qianliean Suppository, New Liaolilong (Divitamins Notonginseng and Cinarizine), Factive
film-coated tablets (Gemifloxacin), Yili’an(Ilaprazole), Beiyi (Leuprorelin Acetate Microspheres for Injection), mouse nerve
growth factor for injection and other medical preparations, as well as Mevastatin, Pravachol, Mycophenolic acid,
Ceftriaxone, Cefuroxime, Cefodizime, Phenylalanine, vancomycin and some other raw-material drugs, which involve the
chemical drugs, biochemical drugs, micro-ecological preparations, Chinese patent drugs, chemical raw materials,
diagnostic reagents and so on, totaling hundreds of kinds of products in various medical fields. In the report period, the
composition of main business is listed as follows:
Unit:RMB Yuan
Increase or Increase or
Increase or decrease
decrease of decrease of
Operating Gross profit of Gross profit margin
Operating Cost Operating income Operating Cost over
over same period of
Income margin over same period of same period of
previous year (%)
previous year (%) previous year (%)
Profession
Western
206,564,256.2 Up 2.55
medicine 788,054,616.86 73.79% 18.51% 8.02%
2 percentage points
preparation
Including: Diges Up 1.37
87.95% 19.24% 7.07%
tive tract 177,085,277.79 21,331,635.26 percentage points
Cardiac and
Down 0.31 perce
cerebral blood 72,477,673.31 17,181,393.35 76.29% 0.51% 1.83%
ntage points
vessel
Antimicrobial Up 4.06
133,415,458.61 38,257,257.31 71.32% -7.12% -18.65%
drugs percentage points
Gonadotropic Up 1.16
270,853,274.68 93,290,769.53 65.56% 23.61% 19.60%
hormone percentage points
Up 8.84
Others 134,222,932.47 36,503,200.77 72.80% 64.51% 24.14%
percentage points
Chinese
161,538,367.5 Up 0.69
traditional drug 791,562,122.89 79.59% 20.88% 16.94%
4 percentage points
preparation
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丽珠医药集团股份有限公司 2013 年半年度报告全文
Raw material 349,888,612.7 Down 3.25
397,815,396.77 12.05% -1.26% 2.52%
drugs 8 percentage points
Diagnostic
Down 1.14
reagents and 175,836,534.61 82,174,063.17 53.27% 15.4% 18.3%
percentage points
equipment
Product
Shenqifuzheng Down 1.71
588,984,786.21 89,815,428.22 84.75% 24.4% 40.13%
injection percentage points
Region
Northeast China 172,659,612.54 15.78%
North China 324,821,066.13 16.6%
Central China 250,267,164.19 16.54%
East China 436,465,859.60 13.62%
South China 368,532,952.10 20.93%
Southwest China 305,749,608.80 24.97%
Northwest China 135,659,154.45 20.2%
Export 159,113,253.32 -14.54%
Note: The increase of the other products in western medicine preparations in above table is mainly due to the increase of products for
nerve repair druges and psychotropic system drugs.
IV The analysis about core competitiveness
In the report period, the company's core competitiveness has not changed significantly, which is mainly reflected in: 1. The company has
a diversified product portfolio, and the exclusive and key products has the strong market competitiveness. The company products involve
the chemicals, biochemical drugs, microecological preparation, traditional Chinese medicines, chemical raw material druges and
diagnostics and other fields, with hundreds of preparation products approval documents, diversified product portfolio, which will help the
company diversify market risk and ensure the company to achieve the stability of operating results. At the same time, the company has
Shenqifuzheng injection, anti-virus particles and other exclusive preparation products, which maintain a high market share in the market
segment; 2. The company has a comprehensive sales network and sophisticated marketing capabilities. The company has established a
marketing network covering the domestic market, and establish the stable and good business relationships with the main commercial
channels and thousands of hospitals. Through years of marketing reforms, the company has established a strong marketing team and
efficient sales model; 3. The strong R & D capabilities and new product development capability. The company has always focused on the
product development and the R & D investment increased year by year. At present, the company has many R & D teams, including the
chemical preparation drugs, Chinese medicine research and development and biological agents (monoclonal antibodies and vaccines);
at the same time, the company has established a long-term scientific and technological cooperation relationship with more than 30
domestic and foreign research institutions. In recent years, the company has released many new drugs, including ilaprazole coated
14
丽珠医药集团股份有限公司 2013 年半年度报告全文
tablets and gemifloxacin tablets, as well as the Leuprorelin Acetate Microspheres for Injection and mouse nerve growth factor for injection
with great market promotion potential.
V. Analysis about investment status
1. External equity investments
(1) External equity investment
□ Applicable √ Inapplicable
(2) Holding particulars about equities of financial enterprises
Share-hol Share-hol Share-hol
Share-hol Book Profit and
Initial ding ding ding
ding value at loss in the Accountin
investme quantity percentag percentag
Company Company quantity the end of report g
nt cost at the e at the e at the Source
name type at the end period period calculatio
(RMB beginning beginning end of
of period (RMB (RMB n subject
Yuan) of period of period period
(shares) Yuan) Yuan)
(shares) (%) (%)
China
Resource Long-ter Share
Commerci 95,325,76 84,936,00 84,936,00 75,325,76 m equity
s Bank of 1.5065% 1.5065% - participati
al bank 0.00 0 0 0.00 investme
Zhuhai nt on
Co., Ltd
Guangdo
ng Long-ter Share
Commerci 177,348.8 177,348.8 m equity
Developm 68,854 0.0004% 68,854 0.0004% - participati
al bank 4 4 investme
ent Bank nt on
Co., Ltd
(3) Securities investment
Share-ho
Holding Share-h Share-ho Profit
Initial lding Book
quantity olding lding and loss Accounti
investme percenta value at
Securi Security at the quantity percenta in the ng
Security nt ge at the the end
ty abbreviatio beginnin at the ge at the report calculati Source
Code amount beginnin of period
Type n g of end of end of period on
(RMB g of (RMB
period period period (RMB subject
Yuan) period Yuan)
(Share) (shares) (%) Yuan)
(%)
Kunlun 4,267,54 1,500,00 1,000,00 Tradable
Purchas
Stock 00135 - - financial
Energy 2.24 0 0 10,960,5 -1,944,9 assets efrom
15
丽珠医药集团股份有限公司 2013 年半年度报告全文
28.00 54.00 market
Penghua 150,000. Tradable Purchas
Fund 206001 619,573 - - 517,281. -22,242. financial efrom
Fund 00 619,573
46 67 assets market
Shareholding particulars of other listed companies
√ Applicable □ Inapplicable
Securitie Securities Initial Percentag Book value Profit
s code abbreviation investment e of total at the end and
Change of
capital shares of of this loss
owners’ Accountin
this period durin
equity g
Company g the Source
during the calculatio
repor
report n subject
t
period
perio
d
Bank of Saleable Share
2,450,179.0 6,179,029.2
601328 Communication 0.00245% -850,185.8 financial participatio
0 3 -
s 4 assets n
Huadong Saleable Share
3,648,626.1
000963 Medicine Co., 39,851.86 0.0211% financial participatio
5 - 77,825.15
Ltd assets n
Total 2,490,030.8 9,827,655.3
6 8 - -772,360.6
9
Particulars about buying or selling the shares of other listed companies in the report period
√ Applicable □ Inapplicable
Share
quantity at Amount of
Share
the Quantity of Quantity of received
quantity at Amount of Investment
Securities shares bought shares sold at capitals in
beginning the end of used capitals returns (RMB
name at the report the report selling the
of period(sh (RMB Yuan) Yuan)
period(share) period(share) shares (RMB
are)
period(shar Yuan)
e)
Rainbow
group 5,016,000 - 5,016,000 - 1,791,535.29 -3,937,526.19
Kunlun
Energy 1,500,000 - 500,000 1,000,000 - 6,786,041.25 4,694,029.88
China
National 560,000 - 560,000 - 7,244,798.89 4,676,301.74
16
丽珠医药集团股份有限公司 2013 年半年度报告全文
Offshore Oil
Corporation
Baili
International 428,000 - 428,000 - 5,917,239.79 3,816,136.93
Phoenix -10,578,169.7
2,570,317 - 2,570,317 - 8,506,360.30
Island 2
Shenzhen
International 17,000,000 - 17,000,000 - 11,667,146.70 2,501,580.46
Sinotrans
Shipping 260,500 - 260,500 - 441,521.00 -1,284,392.21
China
Railway
Engineering
Group Co. 314,000 - 314,000 - 1,218,667.18 -243,762.80
China
Railway
Construction
Corporation 114,000 - 114,000 - 849,604.86 -133,013.93
Total 27,762,817 - 26,762,817 1,000,000 - 44,422,915.26 -488,815.84
Note: for the above securities investment and securities investment in Hongkong Stock Exchange, the relevant amount of
H-share market investment has been converted to RMB for calculation at the exchange rate at the end of report period.
The profit and loss in the report period means the effect of this investment on consolidated net profit in this period.
2. Entrusted wealth management, derivative investments and entrusted loans
(1) Entrusted wealth management
□ Applicable √ Inapplicable
(2) Derivative investments
□ Applicable √ Inapplicable
(3)Entrusted loans
□ Applicable √ Inapplicable
3. Raising and use of capitals
□ Applicable √ Inapplicable
17
丽珠医药集团股份有限公司 2013 年半年度报告全文
4. Analysis about main subcompanies and participating companies
Particulars about main subcompanies and participating companies
Unit:RMB Yuan
Main
Company Company Registered Total Operating Operating
Profession products or Net assets Net profits
name type capitals assets incomes profits
services
Be mainly
engaged in
the
production
and sales
of the
products
such as
Livzon
the
Pharmace
chemical
utical
Subcompa Pharmace drugs,
Factory 442,109,30 1,650,668 1,057,506 475,734,9 80,516,33 70,663,08
ny utical biochemic
under 9.13 ,503.85 ,701.20 89.31 9.74 3.69
al drugs,
Livzon
micro-ecol
Group
ogical
preparatio
ns,
antibiotics,
etc that are
produced
by the
company.
Be mainly
engaged in
the
developme
nt,
Sichuan production
Guangda Subcompa Pharmace and sales
149,000,00 521,285,6 447,235,33 164,293,52 49,275,257 42,221,997
Pharmaceuti ny utical of
0.00 61.19 2.48 2.56 .22 .78
cal Co., Ltd traditional
Chinese
medicines,
and the
main
products
18
丽珠医药集团股份有限公司 2013 年半年度报告全文
include the
antivirus
granules
and
Kouyannin
g infusion,
etc.
Be mainly
engaged in
the
production
and
operation
of Chinese
traditional
medicine
preparatio
Limin
ns,
Pharmace
medical
utical Co., Subcompa Pharmace
raw 61,561,014 664,792,70 289,551,99 198,316,47 65,252,834 57,216,011
Ltd under ny utical
materials .73 6.31 9.35 1.00 .95 .77
Livzon
and so on.
Group
The main
products
are
Shenqifuz
heng
injection
solution,
Xueshuant
ong and so
on.
Be mainly
engaged in
the
production
Zhuhai and sales
Livzon Subcompa Pharmace of
46,450,837 331,436,68 202,575,56 176,193,70 35,519,436 30,275,906
Reagents ny utical diagnostic
.00 0.57 4.06 4.41 .21 .43
Co., Ltd reagents.
The main
products
are
Chlamydia
19
丽珠医药集团股份有限公司 2013 年半年度报告全文
trachomati
s antigen
diagnostic
reagent kit
and HIV
antibody
diagnostic
regent kits.
5. Key products about non-raising capital investments
Unit:RMB 10000 Yuan
Accumulated
Total planned Investment amount investment amount
Project name Project progress Project returns
investment amount in this report period by the end of
report period
Ningxia
Pharmaceutic
The project has not
al Industry 72,400 8,612.83 68,685.74 94.87%
been completed.
Park under
Livzon Group
Relocation project The project has not
of new Livzon been completed,
Pharmaceutical 88,723 13,700.83 77,219.83 87.03% and has not been
Factory under separately
Livzon Group calculated.
Total 161,123 22,313.66 145,905.57 -- --
VI. Forecast about operation performance from January to September 2013
Warning that forecasts the accumulated net profit from the beginning of year to the end of next report period may suffer
from loss or have the huge changes compared with same period of previous year and reason remarks
□ Applicable √ Inapplicable
VII. Remarks of Board of Directors and Board of Supervisors about “non-standard
auditing report” of public accountants firm during this report period
□ Applicable √ Inapplicable
This semi-annual financial report has not been audited.
20
丽珠医药集团股份有限公司 2013 年半年度报告全文
VIII. Remarks of Board of Directors about “non-standard auditing report” in previous
year
□ Applicable √ Inapplicable
This semi-annual financial report has not been audited.
IX Profit distribution of company in the report period
Particulars about implementation or adjustment of profit distribution plan, especially the cash bonus plan, plans about
transfer from capital reserve to share capitals in the report period
√ Applicable □ Inapplicable
In the 2012 annual Shareholders’ Meeting held on June 21, 2013, the company examined
and passed the 2012 Profit Distribution Plan: Taking the total quantity of 295,721,852
shares at the end of 2012 as the base, the company will distribute the bonus of RMB 5.00
Yuan (including the tax) to all shareholders for every 10 shares. On July 12, 2013, the
Company issued the 2012 bonus distribution announcement of Livzon Pharmacutical Co.,
Ltd and completed the distribution of dividends of A-shares and B-shares to the A-share
and B-share holders on July 17 and July 22, 2013.
X. Plan about profit distribution and transfer from capital reserve to increased share
capitals in this report period
□ Applicable √ Inapplicable
XI. Activities that the Company receives the investigation, communication and
interview, etc. during the report period
Reception date Reception place Reception mode Objects Discussion topics and
Object type
provided materials
Inquire the company about
the suspension of stocks;
the company answered
that the company was
Telephone Individual planning the key events
January 7, 2013 Company office Individual
communication investors and would reassume the
stocks if there were any
results. The company
provided no written
materials.
Inquire the company about
Telephone Individual the details of transfer from
February 1, 2013 Company office Individual
communication investors B-share to H-share. The
company answered in
21
丽珠医药集团股份有限公司 2013 年半年度报告全文
accordance with the
announcement contents.
The company provided no
written materials.
Inquire the company about
the operating status and
progress details of transfer
from B-share to H-share.
Telephone Individual
March 4, 2013 Company office Individual The company answered
communication investors
based on the actual
situation. The company
provided no written
materials.
China
Floor 3 Office,
International
Joincare Local
May 24, 2013 Agency Capital
Pharmaceutical investigation
Corporation
Building
Limited
Floor 3 Office,
Penghua Fund
Joincare Local
May 24, 2013 Agency Management
Pharmaceutical investigation
Co., Ltd
Building For more details, please
see the Record Form Of
Floor 3 Office,
Rongtong Fund Investor Relationship
Joincare Local
May 24, 2013 Agency Management Activities of Livzon
Pharmaceutical investigation
Co., Ltd Pharmaceutical Group
Building
Inc. disclosed in the
Floor 3 Office,
Bosera Asset website
Joincare Local
May 24, 2013 Agency Management (http://irm.cninfo.com.cn)
Pharmaceutical investigation
Co., Ltd. of Shenzhen Stock
Building
Exchange
Floor 3 Office, Shanghai
Joincare Local Dingfeng Asset
May 24, 2013 Agency
Pharmaceutical investigation Management
Building Co., Ltd
Floor 3 Office,
Harvest Fund
Joincare Local
May 24, 2013 Agency Management
Pharmaceutical investigation
Co., Ltd.
Building
22
丽珠医药集团股份有限公司 2013 年半年度报告全文
Section V Important Events
(I). Company Governance
During the report period, in accordance with the requirements of the Company Law of People’s Republic of China,
Securities Law of People’s Republic of China, Governance R Ules Of Listed Companies, Guidance Of Standardized
Operation Of Mainboard Listed Company of Shenzhen Stock Exchange, and normative documents related to listed
companies issued by China Securities Regulatory Commission and Shenzhen Stock Exchange, the Company has
strengthened the system construction, perfected the governance structure, regulated the company operation, further
pushed the deepening of company governance, and enhanced the governance level of Company.
During the report period, the shareholders’ meeting, Board of Directors and Board of Supervisors of the company strictly
performed the management policy-making and supervision in accordance with the normative operation rules and internal
systems, and the three agencies operate effectively. All special commissions under Board of Directors have performed
their own responsibilities, and strengthen the policy-making capacity of Board of Directors in all fields. The operation
management has established the efficient and compliant policy-making system, fully embodied the operation
management function, and effectively ensure the achievement of operation objectives.
In the report period, there are no differences between the actual situation of company goverance and relevant regulations
of China Securities Regulatory Commission.
II. Key lawsuits and arbitrations
□ Applicable √ Inapplicable
III. Suspects from media
□ Applicable √ Inapplicable
IV. Relevant affairs about bankruptcy and restructuring
□ Applicable √ Inapplicable
V. Asset transactions
1. Purchase of assets
□ Applicable √ Inapplicable
2. Sales of assets
□ Applicable √ Inapplicable
23
丽珠医药集团股份有限公司 2013 年半年度报告全文
3. Enterprise merger
□ Applicable √ Inapplicable
VI. Implementation and influence of equity stimulus of company
□ Applicable √ Inapplicable
VII. Key associated transactions
1. Associated transaction related to routine operation
Amount
Percenta Settleme
of
ge in nt mode
Associa Pricing associate
Associated Similar of
Name of Associated Association ted principle of d Disclosure Disclosure
transaction Transacti associate
Parties relationship transact Associated transactio date index
content on d
ion type transaction n (RMB
Amount transactio
10000
(%) n
Yuan)
Subcompa
Zhuhai Joincare Determine Announce
ny of Sales of Sales of Bank
Pharmaceutical the market ment No:
controlling commo finished 0.57 settlemen
Group Industry price by 2013-16;
shareholde dities products t
Co., Ltd negotiation Announce
r
ment
Guangdong Blue Determine name:
Sales of Sales of Bank
Treasure Associated the market announce
commo finished 1,806.67 0.84% settlemen
Pharmaceutical enterprises price by ment
dities products t
Co. Ltd negotiation about
Subcompa 2013
Jiaozuo Joincare Determine
ny of Sales of Sales of Bank routine
Pharmaceutical the market March 9,
controlling commo raw 43.47 0.02% settlemen associated
Group Industry price by 2013
shareholde dities materials t transactio
Co., Ltd negotiation
r ns of
Livzon
Guangdong Blue Determine
Provisio Water, Bank Pharmace
Treasure Associated the market
n of electricity 251.73 97.64% settlemen utical
Pharmaceutical enterprises price by
labors and power t Group
Co. Ltd negotiation
Inc.;
Subcompa
Zhuhai Joincare Determine publishing
ny of Provisio Water, Bank
Pharmaceutical the market website:
controlling n of electricity 6.08 2.36% settlemen
Group Industry price by Juchao
shareholde labors and power t
Co., Ltd negotiation website
r
24
丽珠医药集团股份有限公司 2013 年半年度报告全文
Guangdong Blue Purcha Determine
Purchase Bank
Treasure Associated se of the market
of raw 120.44 0.15% settlemen
Pharmaceutical enterprises commo price by
materials t
Co. Ltd dities negotiation
Subcompa
Shenzhen Purcha Determine
ny of Purchase Bank
Haibin se of the market
controlling of raw 410.47 0.51% settlemen
Pharmaceutical commo price by
shareholde materials t
Co., Ltd dities negotiation
r
Subcompa
Shenzhen Taitai Purcha Determine
ny of Low-value Bank
Gene se of the market
controlling consumabl 6.41 0.01% settlemen
Engineering Co., commo price by
shareholde es t
Ltd dities negotiation
r
Subcompa
Jiaozuo Joincare Purcha Determine
ny of Purchase Bank
Pharmaceutical se of the market
controlling of raw 6,130.33 7.66% settlemen
Group Industry commo price by
shareholde materials t
Co., Ltd dities negotiation
r
Subcompa
Zhuhai Joincare Determine
ny of Lease Bank
Pharmaceutical Lease as the market
controlling of 22.89 13.5% settlemen
Group Industry office price by
shareholde assets t
Co., Ltd negotiation
r
Subcompa
Determine
Health ny of Lease Bank
Lease as the market
Pharmaceutical controlling of 5.83 3.44% settlemen
office price by
(China) Co., Ltd shareholde assets t
negotiation
r
Subcompa
Joincare Determine
ny of Renting Bank
pharmaceutical Rent as the market
controlling of 32.95 100% settlemen
Group Industry office price by
shareholde assets t
Co., Ltd negotiation
r
Total -- 8,837.84 -- -- -- --
Details about the refunding of large-amount sales
None
of commodities
If the total amount of routine associated
In the report period, the routine associated transactions that occur
transactions that occur in this period is forecast,
with all associated parties do not exceed the total forecasting
please specify the actual performance in this report
amount at the beginning of year.
period (if any)
25
丽珠医药集团股份有限公司 2013 年半年度报告全文
In the report period, the prices for all associated transactions are
Reason for huge difference between transaction determined in accordance with the market operation rules and fair
prices and reference market prices (if applicable) market prices of all commodities, and there are no cases about
huge price difference.
2. Associated transactions about asset purchase and sales
□ Applicable √ Inapplicable
3. Key associated transactions about joint external investments
Registered Net profit of
Total assets Net assets
Pricing Main capitals of invested
Name of of invested of invested
Joint Association principle of business of invested enterprises
invested enterprises enterprises
investors relationship joint invested enterprises (RMB
enterprises (RMB 10000 (RMB 10000
investmnet enterprise (RMB 10000 10000
Yuan) Yuan)
Yuan) Yuan)
Obtain the
correspondi Technical research
Joincare
ng equities Zhuhai Livzon and development
pharmaceuti
Controlling based on Dankang of biological
cal Group 30,000.00 19,353.48
shareholder their Biotechnology medicine products 16,910.08 -1,054.81
Industry
respective Co., Ltd and antibody
Co., Ltd
investment medicines
amounts
The projects under construction include the antibody drug GMP pilot production plant and R &
D labs of 17,200 square meters, so as to create the world-class antibody drug development
Progress of key projects and industrial base.
of invested enterprises By the end of the report period, the company has completed the pilot plant overall design, and
under construction (if any) completed the civil engineering, decontamination, public works construction, interior
decoration, and has completed the large equipment FAT and the placement in place, and has
obtained the approval document of the EIA.
Remarks: in the report period, the Company and Joincare increased the registered capitals of Zhuhai Livzon Dankang
Biotechnology Co., Ltd by RMB100 million Yuan based on their respective shareholding proportion, and the remaining
capital increase will be paid by the two parties in accordance with the Articles of Association of Zhuhai Livzon Dankang
Biotechnology Co., Ltd by 30 June 2016. For more details about this capital increase, see the Associated Transaction
Announcement About Increasing The Registered Capitals to Zhuhai Livzon Dankang Biotechnology Co., Ltd Jointly With
The Controlling Shareholder (announcement No. :2013-27) in Juchao website.
4. Transfer of associated claims and debts
Are there the transfer of non-operating associated claims and debts?
√ Yes □ No
26
丽珠医药集团股份有限公司 2013 年半年度报告全文
Balance
Balance at
at the Amount in
Are there the the end of
beginning this period
Association Type of claims Formation use of period
Associated parties of period (RMB
relationship and debts reason non-operating (RMB
(RMB 10000
capitals? 10000
10000 Yuan)
Yuan)
Yuan)
Receivable
Guangdong Blue Sales of
Associated claims from
Treasure commoditie No 872.48 -65.63 806.85
company associated
Pharmaceutical Co. Ltd s
parties
Receivable
Zhuhai Joincare Subcompany Sales of
claims from
Pharmaceutical Group of controlling commoditie No 1.99 2.44 4.43
associated
Industry Co., Ltd shareholder s
parties
Receivable
Jiaozuo Joincare Subcompany
claims from Sales of
Pharmaceutical Group of controlling No - 50.86 50.86
associated materials
Industry Co., Ltd shareholder
parties
Receivable
Zhuhai Joincare Subcompany
claims from Renting of
Pharmaceutical Group of controlling No 2.64 2.64
associated assets
Industry Co., Ltd shareholder
parties
Receivable
Subcompany
Health Pharmaceutical claims from Renting of
of controlling No - 0.83 0.83
(China) Co., Ltd associated assets
shareholder
parties
Receivable
Jiaozuo Joincare Subcompany
claims from Advance
Pharmaceutical Group of controlling Yes - 14.00 14.00
associated payments
Industry Co., Ltd shareholder
parties
Receivable
Guangdong Blue
Associated claims from Provision of
Treasure No 94.29 41.02 135.31
company associated labors
Pharmaceutical Co. Ltd
parties
Subcompany Payable debts to
Shenzhen Haibin Purchase
of controlling associated No 406.59 -23.09 383.5
Pharmaceutical Co., Ltd of materials
shareholder parties
Jiaozuo Joincare Subcompany Payable debts to
Purchase
Pharmaceutical Group of controlling associated No 2,529 2,150.52 4,679.51
of materials
Industry Co., Ltd shareholder parties
27
丽珠医药集团股份有限公司 2013 年半年度报告全文
Guangdong Blue Payable debts to
Associated Purchase
Treasure associated No 0.03 -0.03
company of materials
Pharmaceutical Co. Ltd parties
Jiaozuo Joincare Subcompany Payable debts to
Advance
Pharmaceutical Group of controlling associated Yes 0.73 0.44 1.17
payments
Industry Co., Ltd shareholder parties
Joincare Subcompany Payable debts to
Renting of
pharmaceutical Group of controlling associated No 87.86 32.95 120.81
assets
Industry Co., Ltd shareholder parties
The reason for formation of above associated claims and debts is to
Influence of associated claims and
meet the routine operation needs of company; the amount is small,
debts on operation results and
so this does not have key influence on the operation retuls and
financial status
financial status of company.
5. Other key associated transactions
□ Applicable √ Inapplicable
VIII. Key contracts and their performance status
1. Custody, contracting and renting
(1) Custody
Remarks about custody
The Company has no events about custodizing the asses for other companies or entrusting other companies to custodize
the company assets that occurred in this period or that occurred in this period but have extended to this report period and
have brought the company profits and accounted for over 10% (including 10%) of total profits.
□ Applicable √ Inapplicable
(2) Contracting
Remarks about contracting:
The Company has no events about contracting the asses of other companies or other companies contracting the company
assets that occurred in this period or that occurred in this period but have extended to this report period and have brought
the company profits and accounted for over 10% (including 10%) of total profits.
□ Applicable √ Inapplicable
(3) Leasing
Remarks about leasing:
The Company has no events about rentting the asses of other companies or other companies renting the company assets
that occurred in this period or that occurred in this period but have extended to this report period and have brought the
28
丽珠医药集团股份有限公司 2013 年半年度报告全文
company profits and accounted for over 10% (including 10%) of total profits.
□ Applicable √ Inapplicable
2. Guaranty
Unit:RMB 10000 Yuan
External guaranties provided by the company (not including the guaranties provided to the
subcompany
Disclosure Guaranty Period Whether Whether the
date of type the guaranty is
Occurrence Date Actual
relevant Guaranty guaranty the guaranty
Name of Guarantee (Signing date of guarantee
announcement amount has been to associate
agreement) amount
of guaranty complete parties? (Yes
amount d or No)
In this report period, there are no above external guaranty cases.
Guaranty that the company provides to the subcompanies
Guaranty type Period Whether
Whet the
Disclosure her guaranty
date of Occurrence the is the
Actual
relevant Guarant Date guara guaranty
guarant
Name of Guarantee announceme y (Signing nty to
ee
nt of amount date of has associat
amount
guaranty agreement) been e
amount compl parties?
eted (Yes or
No)
Joint and
Zhuhai Livzon Reagents 2013-03-20 2013.3.20-2015.3.
2013-03-09 4,000 several liability No No
Co., Ltd . 20
guaranty
Joint and
Zhuhai Livzon Reagents 1,235.7 2012.3.22-2015.3.
2013-03-09 2012-03-22 several liability No No
Co., Ltd 4 21
guaranty
Joint and
Zhuhai Livzon Medicine
2013-03-09 1,000 2012-07-02 several liability 2012.7.2-2015.7.2 No No
Trade Co., Ltd
guaranty
Joint and
Limin Pharmaceutical Co., 15,00 2012.4.17-2015.4.
2013-03-09 15,000 2012-04-17 several liability No No
Ltd under Livzon Group 0 16
guaranty
Livzon Syntpharm Co., Ltd Joint and
2013-03-09 3,000 2012-06-07 2012.6.7-2015.6.7 Yes No
in Zhuhai Bonded Area several liability
29
丽珠医药集团股份有限公司 2013 年半年度报告全文
guaranty
Livzon Pharmaceutical Joint and
2012.5.17-2015.5.
Factory under Livzon 2013-03-09 16,000 2012-05-17 several liability No No
16
Group guaranty
Livzon Pharmaceutical Joint and
2010.12.14-2018.
Factory under Livzon 2013-03-09 32,000 2010-12-23 several liability No No
12.14
Group guaranty
Livzon Pharmaceutical Joint and
2009-10-15 2010.6.12-2018.6.
Factory under Livzon 2013-03-09 12,000 several liability No No
. 3
Group guaranty
Livzon Pharmaceutical Joint and
2012.6.15-2015.6.
Factory under Livzon 2013-03-09 10,000 2012-06-15 several liability No No
15
Group guaranty
Livzon Pharmaceutical Joint and
2010.7.20-2013.7.
Factory under Livzon 2013-03-09 7,965.5 2010-05-13 several liability No No
20
Group guaranty
Livzon Pharmaceutical Joint and
4,016.1 2012.7-31-2015.7.
Factory under Livzon 2013-03-09 2012-07-31 several liability Yes No
6 31
Group guaranty
Livzon Pharmaceutical Joint and
1,194.
Factory under Livzon 2013-03-09 9,000 2012-06-07 several liability 2012.6.7-2015.6.7 No No
83
Group guaranty
Livzon Pharmaceutical Joint and
4,381.0
Factory under Livzon 2013-03-09 2011-08-04 several liability 2011.8.4-2014.8.4 Yes No
3
Group guaranty
Total actual guaranty
Total guaranty amount to its subcompanies amount to its
175,135.88 16,194.83
approved in the report period (B1) subcompanies approved in
the report period (B2)
Total actual guaranty
Total guaranty limit to its subcompanies approved balance to its
175,135.88 16,194.83
in the report period (B3) subcompanies at the end
of report period (B4)
Total guaranty amount of company (i.e., the total of first two items)
Total guaranty limit approved during the Total actual guaranty amount during the
175,135.88 16,194.83
report period (A1+B1) report period (A2+B2)
Total guaranty limit approved at the end of Total actual guaranty balance at the end
175,135.88 16,194.83
report period (A3+B3) of the report period (A4+B4)
Percentage of actual guaranty amount (i.e., A4+B4) in net
5.19%
assets of company (%)
30
丽珠医药集团股份有限公司 2013 年半年度报告全文
Including:
Guaranty amount provided to the shareholders, actual
0
controllers and their associated parties (C)
Directly or indirectly provides the guaranty to any guarantees
0
whose assets/liabilities ratio exceeds 70% (D)
Total guaranty amount that exceeds 50% of the net asset of
0
the Company (E)
The total of above three guaranty amounts (C+D+E) 0
Remarks about possibility in bearing the joint and several
No
liabilities in the undue guaranties (if any)
Remarks about violating the regulations and procedures to
No
provide the external guaranty (if any)
Remarks about compound guaranty: in the above guaranty, the company holds only 51% of the equity of Zhuhai Livzon
Reagent Co., Ltd, so the other shareholder of reagent company – Zhuhai Zhenghe Co., Ltd provides the company with the
anti-guaranty of 49% of guaranty limit of above reagent company.
3. Other key contracts
□ Applicable √ Inapplicable
4. Other key transactions
□ Applicable √ Inapplicable
IX. Commitments that the company and shareholders holding over 5% of total shares
have made that occurred in this period or that occurred in this period but have
extended to this report period
Commitm Commitm Performa
Commitments Principal Commitment content
ent date ent period nce
Commitments about
share reform
Commitments in the
purchase report or
equity change
reports
Commitments at the
time of asset
restructuring
Commitments at the
time of first public
31
丽珠医药集团股份有限公司 2013 年半年度报告全文
issuing or refinancing
The controlling shareholder Joincare made the
following commitments while handling the restriction
release of shares with trading restriction:
1. When Joincare transfers its tradable shares of Livzon
Group whose trading restriction has been released, it
will strictly comply with the relevant regulations of the
Guiding Opinions on the Listed Companies’ Transfer of
Joincare Perform
Original Shares Released from Trading Restrictions
pharma based
([2008] No. 15 announcement) issued by China Decembe
ceutical Long-ter on
Securities Regulatory Commission. r 17,
Group m actual
(2) Joincare plans to reduce its tradable shares of 2008
Industry situatio
Livzon Group whose trading restriction has been
Co., Ltd n
released through the competing price trading system in
Other commitments to
the stock exchange in the future and the reduced
medium and small
quantity of shares amounts to over 5% within 6 months
shareholders of
from the first reduction, then Joincare will disclose the
company
reminder announcement about the selling affairs via
Livzon Group in 2 trading days before the first
reduction.
On January 9, 2012 to January 8, 2013, Tiancheng
Industry Co., Ltd., a wholly owned subsidiary of the
controlling shareholder of company Joincare, increase
Tianche the quantity of B shares through the centralized During
ng competition mode in Shenzhen Stock Exchange trading January the
6 months
Industry system, and made the following commitments after the 8, 2013 performa
Co., Ltd. completion of implementation: after the completion of nce
this share increase, the lock-up period of share-holding
is 6 months from the completion date of the share
increase.
While planning to perform the transfer project from Until the
B-shares to H-shares, Tiancheng Industry Co., Ltd impleme
signed a following letter of commitment: in the ntation
conditions that the third party arranged by Livzon Group plan
provides the Company with a cash option about the about
Tianche During
transfer from B-shares to H-shares, with respect to the transfer
ng January the
50,660,052 B shares of Livzon Group that the from
Industry 25, 2013 performa
Company currently holds, the Company agreed to B-share
Co., Ltd. nce
waive the exercise of such cash option, and agreed to to
continue to hold and retain these shares to the date H-share
when they are changed to H Shares in accordance with is
this plan and are listed and traded n the Hongkong complet
Stock Exchange, and from the date of signing of the ed.
32
丽珠医药集团股份有限公司 2013 年半年度报告全文
letter of commitment to the completion of the
implementation of this plan, the Company will not
purchase or sell the shares of Livzon Group (including
A-shares and B-shares).
Have the
commitments been Yes
duly performed?
Reason for failure to
perform them and next Inapplicable
plans
Are there any
commitments about
Horizontal Competition No
and associated
transactions?
Resolution period of
Inapplicable
commitments
Resolution mode Inapplicable
Performance of
Inapplicable
commitments
X. Engagement or Disengagement of accountants firms
Has the semi-annual financial report been audited?
□ Yes √ No
XI. Penalty and correction
□ Applicable √ Inapplicable
XII. Remarks about other key events
Summary about key events Disclosure date Search index about temporary reports in the disclosure
websites
th
On January 30, 2013, the 14 meeting of The disclosure document: Announcement about
th
the 7 Board of Directors examined and resolutions passed in the 2013 first temporary
approved that, the company intends to shareholders’ meeting of Livzon Pharmaceutical Group
change the listing place of domestically January 31, Inc. (No. :2013-06); Livzon Pharmaceutical Group
listed foreign shares (B-shares) and list 2013 Inc.changes the listing place of domestically listed
and trade them in on the Main Board of foreign shares (B-shares) and list and trade them in on
Hongkong Stock Exchange by the mode the Main Board of Hongkong Stock Exchange by the
of introduction. mode of introduction; disclosure website: Juchao
33
丽珠医药集团股份有限公司 2013 年半年度报告全文
website (http://www.cninfo.com.cn/)
Remarks: the above matters has been examined and adopted by the relevant shareholders' meetings. By the end of
reporting period, the implemention of such matters has not been completed. The company will, based on the the
development of matters and in accordance with the relevant requirements, fulfill the disclosure obligations in a timely
manner. It should come to the attention of all investors.
34
丽珠医药集团股份有限公司 2013 年半年度报告全文
Section VI. Change of Share Capital and Particulars of
Shareholders
I. Particulars of Share Capital Changes
Beginning balance Increase (+) or decrease (-) Closing balance
Shares
New
transfer
ly
red
issu Bonu Percenta
from Others Subtotal Quantity
ed s ge
public
shar share
reserve
Quantity Percentage es s
fund
I. Shares with trading
6,059,428 2.05% 71,534,389 71,534,389 77,593,817 26.24%
restriction
1. Shares held by the
6,059,428 2.05% 6,059,428 2.05%
state
2. Shares held by
71,534,389 71,534,389 71,534,389 24.19%
foreign investors
Including: shares held
by overseas legal 71,534,389 71,534,389 71,534,389 24.19%
persons
II. Shares without -71,534,38 -71,534,38 218,128,03
289,662,424 97.95% 73.76%
trading restriction 9 9 5
1.Renminbi ordinary 177,669,07
177,669,070 60.08% 60.08%
shares 0
2.Domestically-listed
-71,534,38 -71,534,38
Shares for Overseas 111,993,354 37.87% 40,458,965 13.68%
9 9
Investors
295,721,85
III. Total of shares 295,721,852 100% 0 0 100%
2
Reasons for share changes
√ Applicable □ Inapplicable
In the report period, according to the commitments made by the company shareholder Tiancheng Industry (holding
50,660,052 B shares in the Company), GAOLING FUND, LP (holding 10,767,777 B shares in the Company) and SUNRISE
PALACE LIMITED (holding 10,106,560 B-shares in Company in the name of First Shanghai Securities Limited) while
35
丽珠医药集团股份有限公司 2013 年半年度报告全文
implementing the project about transferring B-shares to H-shares, by the report period, the transfer of shares is still
restricted.
Approval of share changes
□ Applicable √ Inapplicable
Handling of formalities of share changes
□ Applicable √ Inapplicable
Effect of share changes on the basic profit per share, diluted profit per share and net asset per share attributable to the
ordinary shareholders of company in the recent one year or period
□ Applicable √ Inapplicable
Other contents that the company considers necessary or the securities regulatory agency requires for disclosure
□ Applicable √ Inapplicable
Total share quantity, changes of shareholder structure and changes of corporate asset and liability structures of the
company
□ Applicable √ Inapplicable
II. Shareholder quantity and shareholding particulars
Unit:share
Total quantity of shareholders
18,746(including 5,782 B-share holders)
at the end of report period
Shares held by top ten shareholders
Total
Total
shareholdin Increase or Total Shares for
Shareh quantity of
g quantity decrease quantity of the
Shareholder olding shares
Shareholder name at the end during the shares with mortgage or
nature percent without
of report report trading freezing
age (％) trading
period period restriction (share)
restriction
(share)
Domestic
Joincare pharmaceutical
non-state owned 77,510,167 - 77,510,167
Group Industry Co., Ltd
legal person
Foreign legal
Tiancheng Industry Co., Ltd. 17.13% 50,660,052 - 50,660,052
person
Foreign legal
GAOLING FUND,L.P. 3.64% 10,767,777 - 10,767,777
person
First Shanghai Securities Foreign legal
3.63% 10,740,115 9,011 10,106,560 633,555
Co., Ltd person
Agricultural Bank of China –
Penghua power growth
Others 2.46% 7,270,094 -1,929,888 7,270,094
mixed securities investment
funds
Industrial and Commercial Others 2.37% 7,013,958 1,856,720 7,013,958
36
丽珠医药集团股份有限公司 2013 年半年度报告全文
Bank of China- E-fund Value
Growth Mix Securities
Investment Fund
Industrial and Commercial
Bank of China- Harvest
Others 2.19% 6,464,019 463,021 6,464,019
Strategic Growth Mixed
Securities Investment Fund
Guangzhou Begol Trading State-owned Mortgage
2.05% 6,059,428 6,059,428 6,059,428
Corporation legal person and freezing
Domestic
Shenzhen Haibin
non-state-owned 1.99% 5,892,943 5,892,943 5,892,943
Pharmaceutical Co., Ltd
legal person
Agricultural Bank of China-
Greatwall Anxin Return
Others 1.86% 5,500,000 -200,000 5,500,000
Mixed Securities Investment
Fund
Remarks about the strategic investors or
general legal person becoming the top ten No。
shareholders (if any)
Shareholding particulars of top ten shareholders without trading restriction
Quantity of shares Share type
without trading
Shareholder name
restriction at the end Share type Quantity
of report period
Renminbi ordinary
Joincare pharmaceutical Group Industry Co., Ltd 77,510,167 77,510,167
shares
Agricultural Bank of China – Penghua power growth mixed Renminbi ordinary
7,270,094 7,270,094
securities investment funds shares
Industrial and Commercial Bank of China- E-fund Value Growth Renminbi ordinary
7,013,958 7,013,958
Mix Securities Investment Fund shares
Industrial and Commercial Bank of China- Harvest Strategic Renminbi ordinary
6,464,019 6,464,019
Growth Mixed Securities Investment Fund shares
Renminbi ordinary
Shenzhen Haibin Pharmaceutical Co., Ltd 5,892,943 5,892,943
shares
Agricultural Bank of China- Greatwall Anxin Return Mixed Renminbi ordinary
5,500,000 5,500,000
Securities Investment Fund shares
Bank of China – Harvest Study Fine Stock-type Securities Renminbi ordinary
5,077,958 5,077,958
Investment Fund shares
Bank of Communications – Bosera New Growth Stock-type Renminbi ordinary
4,364,475 4,364,475
Securities Investment Fund shares
37
丽珠医药集团股份有限公司 2013 年半年度报告全文
Bank of Communications - Great Wall Jiufu Core Growth Renminbi ordinary
3,900,000 3,900,000
Stock-type Securities Investment Fund (LOF) shares
Renminbi ordinary
National social security fund 404 portfolio 2,941,219 2,941,219
shares
①On January 2, 2004, Joincare, Begol and Zhuhai Lishi Investment Co., Ltd signed the
Agreement on Equity Transfer, Custody and Mortgage. Joincare and Guangzhou Begol
Trading Corporation signed the Agreement on Equity Transfer and Custody and the
Agreement on Equity Mortgage, in which Guangzhou Begol Trading Corporation directly
transferred, custodized and mortgaged 6,059,428 domestic legal person shares of our
company to Joincare;②Tiancheng Industry Co., Ltd and Shenzhen Haibin
Description of relationship or Pharmaceutical Co., Ltd are the subcompanies directly or indirectly held 100% by
concerted action between top Joincare;③Agricultural Bank of China- Greatwall Anxin Return Mixed Securities
ten tradable shareholders Investment Fund and Bank of Communications - Great Wall Jiufu Core Growth
without trading restriction as Stock-type Securities Investment Fund (LOF) belong to Great Wall Fund Management
well as between top ten Co., Ltd.④Industrial and Commercial Bank of China- Harvest Strategic Growth Mixed
tradable shareholders without Securities Investment Fund and Bank of China – Harvest Study Fine Stock-type
trading restriction and top ten Securities Investment Fund belong to Harvest Fund Management Co., Ltd. ⑤
shareholders: Agricultural Bank of China – Penghua power growth mixed securities investment funds
and National social security fund 404 portfolio belong to Pengfa Fund Management Co.,
Ltd. Except the above cases,the Company does not know whether there are other
relations between the top ten shareholders, or between top ten tradable shareholders
without trading restriction, or top ten tradable shareholders without trading restriction
and top ten shareholders or whether they belong to the persons acting in concert stated
in the Management Measures about Takeover of Listed Companies.
Remarks about shares
participating in the financing None.
and bond business (if any)
Have the company shareholders specified about repurchase trade in the report period?
□ Yes √ No
III. Changes of controlling shareholders or actual controllers
Changes of controlling shareholders in the report period
□ Applicable √ Inapplicable
Changes of actual controllers in the report period
□ Applicable √ Inapplicable
38
丽珠医药集团股份有限公司 2013 年半年度报告全文
Section VII Particulars of Directors, Supervisors and Senior
Executives
I. Shareholding changes of Directors, Supervisors, and Senior Executives
□ Applicable √ Inapplicable
There are no shareholding changes of directors, supervisors, and senior executives of company in the report period. For
more details, please see the 2012 annul report of company.
II. Changes of directors, supervisors and senior executives
Name Position Type Date Reason
Resign from
Independent position on Resign from position after the expiry of 6-year
Wang Junyan June 7, 2013
director the expiry term as the independent director.
date
The 2012 second temporary shareholders’
Independent meeting of company examined and approved
Guo Guoqing Elected June 7, 2013
director that, he was elected as the independent
director.
Resign from
Cao Pingwei Supervisor June 7, 2013 Resign from position for the personal reason
position
Resign from
Pang Datong Supervisor June 7, 2013 Resign from position for the personal reason
position
The 2012 second temporary shareholders’
Yuan
Supervisor Elected June 7, 2013 meeting of company examined and approved
Huasheng
that, he was elected as the independent director.
The 2012 second temporary shareholders’
Huang Huamin Supervisor Elected June 7, 2013 meeting of company examined and approved
that, he was elected as the independent director.
39
丽珠医药集团股份有限公司 2013 年半年度报告全文
Section VIII Financial Report
I. Auditing Report
Has the semi-annual report been audited?
□ Yes √ No
The semi-annual report has not been audited.
II. Financial Statement
40
丽珠医药集团股份有限公司 2013 年半年度报告全文
Consolidated Balance Sheet
Legal representative: Zhu Baoguo Principal of the Financial Department: An Ning Principal of the Accounting
Department: Si Yanxia
41
丽珠医药集团股份有限公司 2013 年半年度报告全文
Consolidated Profit Statement
Legal representative: Zhu Baoguo Principal of the Financial Department: An Ning Principal of the Accounting
Department: Si Yanxia
42
丽珠医药集团股份有限公司 2013 年半年度报告全文
Consolidated Cash Flow Statement
Legal representative: Zhu Baoguo Principal of the Financial Department: An Ning
Principal of the Accounting Department: Si Yanxia
43
丽珠医药集团股份有限公司 2013 年半年度报告全文
Consolidated Change Statement of Shareholders’ Equities
Legal representative: Zhu Baoguo Principal of the Financial Department: An Ning Principal of the Accounting Department: Si Yanxia
44
丽珠医药集团股份有限公司 2013 年半年度报告全文
Consolidated Change Statement of Shareholders’ Equities
(Continued)
Legal representative: Zhu Baoguo Principal of the Financial Department: An Ning Principal of the Accounting Department: Si Yanxia
45
丽珠医药集团股份有限公司 2013 年半年度报告全文
Balance Sheet of Parent Company
Legal representative: Zhu Baoguo Principal of the Financial Department: An Ning
Principal of the Accounting Department: Si Yanxia
46
丽珠医药集团股份有限公司 2013 年半年度报告全文
Profit Statement of Parent Company
Legal representative: Zhu Baoguo Principal of the Financial Department: An Ning
Principal of the Accounting Department: Si Yanxia
47
丽珠医药集团股份有限公司 2013 年半年度报告全文
Cash Flow Statement of Parent Company
Legal representative: Zhu Baoguo Principal of the Financial Department: An Ning
Principal of the Accounting Department: Si Yanxia
48
丽珠医药集团股份有限公司 2013 年半年度报告全文
Change Statement of Shareholders' Equities of Parent Company
Legal representative: Zhu Baoguo Principal of the Financial Department: An Ning Principal of the Accounting Department: Si Yanxia
49
丽珠医药集团股份有限公司 2013 年半年度报告全文
Change Statement of Shareholders' Equities of Parent Company (Continued)
Legal representative: Zhu Baoguo Principal of the Financial Department: An Ning Principal of the Accounting Department: Si Yanxia
50
丽珠医药集团股份有限公司 2013 年半年度报告全文
Livzon Pharmaceutical Group Inc.
Notes to Financial Statement
June 30, 2013
(The amount is expressed in RMB unless otherwise specified)
I. Company Profile
1 History
In March 1992, approved by Zhu Ti Gai Wei［1992］No. 29 document issued by Zhuhai Economic System Reform
Commission and 1992］No. 45 document issued by the joint examination team under Guangdong Enterprise Shareholding
System Pilot Reform and Guangdong Economic System Reform Commission, Livzon Pharmaceutical Group Inc.
(hereinafter referred to as “This Company” or “Company”) is a limited company raising funds from targeted sources that
has been sponsored by Macau Nanyue (Group) Co., Ltd, Zhuhai Credit Cooperative, Guangdong Medicine Group Co., Ltd,
Zhuhai Medicine Company, Guangdong Medicines & Health Products IMP.& EXP. CORP, Zhuhai branch of Bank of China,
Zhuhai Guihua Staff Mutual Help Association, contributed with the net assets of the original joint venture Co., Ltd as the
shares, and raised other funds from the domestic legal persons and internal staffs.
In 1993, approved by Yue Zheng Jian Fa Zi［1993］No. 001 document issued by Guangdong Securities Regulatory
Commission, Shen Ren Yin Fu Zi [1993］No. 239 document issued by Shenzhen Special Economic Zone branch of the
People’s Bank of China and Zheng Jian Fa Shen Zi [1993］No. 19 document issued by China Securities Regulatory
Commission, the company was listed in Shenzhen Stock Exchange.
In 1998, the sponsoring shareholders of company including Zhuhai Credit Cooperative, Guangdong Pharmaceutical
Industry Company, Zhuhai Guihua Staff Mutual Help Association and Zhuhai branch of Bank of China signed the Equity
Transfer Agreement with China Everbright Bank (Group) Co., Ltd and transferred all their equities to China Everbright
Bank (Group) Co., Ltd. After the transfer, China Everbright Bank (Group) Co., Ltd held 38,917,518 domestic legal person
shares of the company. The foreign-owned sponsor Macau Nanyue (Group) Co., Ltd signed the Equity Transfer
Agreement with China Everbright Medicine Co., Ltd and completely transferred 18,893,448 foreign legal person shares to
China Everbright Medicine Co., Ltd.
On April 12, 2002, China Everbright Bank (Group) Co., Ltd and Xi’an Topsun Group Co., Ltd signed the Equity Custody
Agreement and China Everbright Bank (Group) Co., Ltd put all its domestic legal person shares (38,917,518 shares)
under the custody of Xi’an Topsun Group Co., Ltd. On December 21, 2004, Xi’an Topsun Group Co., Ltd received the
38,917,518 legal person shares of the company from China Everbright Bank (Group) Co., Ltd. By December 31, 2004,
China Everbright Bank (Group) Co., Ltd did not hold any of the company shares, and Xi’an Topsun Group Co., Ltd directly
held 38,917,518 legal person shares of the company, accounting for 12.72％ of total shares.
51
丽珠医药集团股份有限公司 2013 年半年度报告全文
On February 4, 2005, Joincare Pharmaceutical Group Industry Co., Ltd (hereinafter referred to as Joincare) and Xi’an
Topsun Group Co., Ltd signed the Equity Transfer Agreement and Equity Mortgage Agreement. Xi’an Topsun Group Co.,
Ltd directly transferred and mortgaged 38,917,518 domestic legal person shares of the company to Joincare and handled
the formalities for equity transfer on August 3, 2006.
By December 31, 2011, Joincare Group and its holding subcompanies has owned 140,122,590 shares of the company
through the agreement transfer and direct purchase from the secondary markets, accounting for 47.3832% of total shares
and becoming the largest shareholder, so it has owned the actual control right of the company. The formalities for
transferring the equities of 6,059,428 legal person shares held in the name of Guangzhou Begol Trading Corporation to
Joincare Group have not been handled.
In the 2008 First Temporary Shareholders’ Meeting, the company examined and passed the Proposal on Repurchasing
Some of Domestically Listed Shares for Overseas Investors (B Shares) of Livzon Pharmaceutical Group Inc. By
December 2, 2009 (the expiry date of implementing the repurchase), the company has accumulatively repurchased
10,313,630 B-shares. On December 4, 2009, the company handled the cancellation affairs about repurchased shares with
Shenzhen Branch of China Securities Depository & Clearing Corporation Limited; the total share capital of company
decreased by 10,313,630 shares, and the registered capital of company is reduced from RMB 306,035,482 Yuan to RMB
295,721,852 Yuan. On April 20, 2010, the company handled the registration formalities of industrial and commercial
changes, and was issued the business license for enterprise legal person with the registration No. of 440400400032571.
2 Industry
The company is in the pharmacy industry.
3 Business scope
The approved business scope of the company: the company mainly produces and sells the raw materials for Chinese and
western medicines, medicine intermediate, Chinese medicine materials, tablet of Chinese medicines, medical instruments,
sanitation materials, healthcare products, medical cosmetics, Chinese and western finished medicines, bio-chemical
reagents, and also handles the chemical industry, food and information business, raw materials for medicines etc; also
involves the import and export businesses of its products and relevant technologies; wholesale of the Chinese finished
medicines, chemical material medicines and their preparations, antibiotic material medicines and their preparations,
biological products (except the preventive biological products), bio-chemical medicines. (The products administrated with
quota license or special regulations shall be subject to the relevant national rules; the projects that need the administrative
approvals cannot be dealt with unless such approvals are given).
4 Change of main business
During the report period, the company has not changed its main business.
II. Main Accounting Policies, Accounting Evaluation and Early Error of the Company
52
丽珠医药集团股份有限公司 2013 年半年度报告全文
(I) Preparation Basis of Financial Statement
Based on the continuous operation assumption of company and the actual transactions and Items, in accordance with the
Enterprise Accounting Standards issued by the Ministry of Finance in February 15, 2006, this financial statement is
prepared under the following important accounting and valuation policies.
(II) Declaration of Compliance with the Enterprise Accounting Standards
The financial statement prepared by the company meets the requirements of the enterprise accounting standards, and
exactly and completely reflects the financial status, operation result and cash flow, etc of the company.
(III) Accounting Period
The company employs the period of the calendar days from the January 1 to December 31 each year as the accounting
year.
(IV) Currency Used in Book-keeping
The Company takes the RMB as the currency in book-keeping.
(V) Book-keeping Basis and Pricing Principles
The accounting calculation of this company takes the accrual system as the book-keeping basis.
While making the calculation about accounting factors, in general, this company employs the historical cost. If the
accounting factor amount to be determined may be obtained and reliably calculated, with respect to the individual
accounting factors, the company employs the replacement costs, net realizable values, present values and fair values for
calculation.
(1) Calculation nature employed in this report period
In the historical cost calculation, the assets are calculated based on the amounts of cash or cash equivalents paid for
purchase or fair values of considerations paid for asset purchase; the liabilities are calculated based on the actually
received incomes or asset amounts in performing the current obligations, or contract amounts to perform such current
obligations, or the amounts of cash or cash equivalents that are expected to be needed for repaying the liabilities in the
routine activities.
Except that the financial assets and saleable financial assets employ the fair values for calculation, the Items in this
statement employ the historical costs for calculation.
(2) Statement Items whose calculation natures have been changed during the report period
During the report period, no calculation natures have been changed.
(VI) Accounting Processing Method of Merger of enterprises which are under the same control and are not under
the same control
(1) Merger of enterprises which are under the same control
53
丽珠医药集团股份有限公司 2013 年半年度报告全文
For the merger of enterprises which are under the same control, the assets and liabilities that are obtained by the merging
party in the such merger will be measured at the book values of merged party on the merging date. The difference
between the book values of net assets and book values of paid merger considerations (or total amount of book values of
issued shares) will be supplemented by the capital reserve; in case the capital reserve is not enough, the remaining gains
will be adjusted. All direct expenses occurring for enterprise merger, including the auditing expenses, evaluation expenses,
legal service expenses paid for enterprise merger, are accrued to the current profit and loss at the time of occurrence.
(2) Merger of enterprises which are not under the same control
For the merger of enterprises which are not under the same control, the merger cost will be the paid assets, existing
liabilities and fair values of the issued equity securities on the purchasing date to purchase the control right of such
enterprises on the purchase date. In case the enterprise merger is gradually realized in many transactions, the merger
cost will be the sum of each individual transaction cost. All direct expenses related to the enterprise merger will be
accrued to the current profit and loss (except the issuing expenses of bonds and equity instruments). The purchase date is
the date when the company actually obtains the control right of purchased party.
In case the enterprise merger cost of purchasing party is more than the fair values of identifiable net assets of such
enterprises, the difference will be confirmed as the goodwill in the consolidated balance sheet; in case the enterprise
merger cost of purchasing party is less than the fair values of identifiable net assets of such enterprises, after the repeated
checks still find the same fact, the difference will be accrued to the current profit and loss.
(VII) Preparation Method of Consolidated Financial Statements
(1) Determination of consolidation scope
The consolidated financial statements will be subject to the No. 33 Enterprise Accounting Standards – Consolidated
Financial Statement that was issued by the Ministry of Finance in February 2006. The combination scope of the
consolidated financial statement will be determined on the basis of the control; this financial statement consolidates the
financial statements of this company, subcompanies and special objectives that are directly or indirectly controlled by the
company. The control means that the company has the right to determine the financial and operation policies of invested
units, and may obtain the benefits from the operation activities of this enterprise.
In case there are evidences indicating that the parent company cannot control the invested units, such units will not be
included in the consolidated statement scope.
(2) Disposal of purchasing or selling the shares of subcompanies.
The company confirms the date when the risks and rewards related to the purchase or sales of company shares actually
transfer as the purchase date and selling date. For the subcompanies that are obtained or sold in the merger of
enterprises which are not under the same control, the operation results and cash flow after the purchase date and before
the selling date have been duly included in the consolidated profit statement and consolidated cash flow statement; for the
subcompanies that are obtained in the merger of enterprises which are under the same control, the operation results and
54
丽珠医药集团股份有限公司 2013 年半年度报告全文
cash flow from the beginning of current merger period to the merger date have been included in the consolidated profit
statement and consolidated cash flow statement, and are separately listed; the comparison data of consolidated financial
statements have also been adjusted.
For the long-term equity investment that is formed by purchasing the minority of company equities, in preparing the
consolidated financial statements, the difference between the long-term equity investment for purchasing the minority of
equities and amounts of net assets of company in the subcompanies that are continuously calculated at the newly added
share-holding percentage from the purchase date (or merger date) will be adjusted as the owners’ equities (capital
reserve); if the capital reserve is not enough, the remaining gains will be adjusted.
(3) In case the accounting policies and accounting periods of subcompanies differ from those of parent company, the
financial statements of subcompanies will be adjusted.
In case the accounting policies of subcompanies differ from those of the company, in preparing the consolidated financial
statements, the company has made the appropriate adjustments about the financial statements of subcompanies in
accordance with the accounting policies of this company; for the subcompanies that are obtained in the merger of
enterprises which are not under the same control, the company has made the appropriate adjustments about the financial
statements of subcompanies based on their identifiable assets, liabilities and fair values of contingent securities on the
purchasing date.
(4) Consolidation methods
In preparing the consolidated financial statements, all key accounts and transactions between the
company and subcompanies, subcompanies and subcompanies will be offset.
The net assets of merged subcompanies that are attributable to the minority of shareholder equities will be separately
listed in the shareholder equities of consolidated financial statements. If the loss that is borne by the minority of
shareholders in the subcompanies exceeds the shares of owners’ equities at the beginning of the subcompanies, the
balance will be offset by the minority of shareholder equities.
(VIII) Determination Standard for Cash and Cash Equivalent
In preparing the cash flow statement, the cash equivalents of the company include the investments with short period (it
usually expires within three months from the purchase date), characteristics of high flow, easy conversion to the known
amount of cash and little risk of value change. The equity investment will not be deemed as the cash equivalents.
(IX) Calculation Method of Foreign Currency Business
For the foreign currency transactions, the company employs the spot exchange rate (it normally means the intermediate
price of foreign exchange rates issued by People’s Bank of China, the same as below) on the current transaction day and
convert them to RMB for book keeping.
On the preparation date of balance sheet, the foreign currency monetary Items will be converted to RMB for book-keeping
55
丽珠医药集团股份有限公司 2013 年半年度报告全文
in accordance with the spot exchange rate. The difference of spot exchange rates between the preparation date of the
balance sheet and the initial confirmation on the previous date of the balance sheet will be accrued to the current profits
and losses. The foreign currency non-monetary Items calculated with the historical cost method will be converted at the
spot exchange rate on the transaction day and the amount of currency used in book-keeping will not be changed. The
foreign currency non-monetary Items calculated at the fair values will be converted at the spot exchange rate on the
transaction day, and the difference between the amount of currency used in book-keeping after the conversion and the
amount of original currency used in book-keeping will be deemed as the change of fair values and be accrued to the
current profits and losses.
(X) Conversion of Financial Statement in Foreign Currency
1. The asset and liability Items in the balance sheet will be converted at the spot exchange rate on the preparation date of
balance sheet. Among the owners’ equity Items, all Items except the “undistributed profit” Item will be converted at the
spot exchange rate on the occurrence date.
2. The income and expense Items in the profit statement will be converted at the spot exchange rate on the occurrence
date.
The conversion difference of financial statement in foreign currency caused by the above conversion will be separately
listed in the owners’ equity Item in the balance sheet.
3. The cash flow statement will be converted at the spot exchange rate on the occurrence date. The effect amount of
exchange rate change on the cash will be the adjustment Item, and be separately listed in the cash flow statement.
(XI) Confirmation and Calculation of Financial Instruments
1. Classification. The financial instruments may be classified to five categories based on the investment purpose and
economic essence:
①The financial assets or financial liabilities that are calculated in the fair values and whose changes are accrued to the
current profit and loss, including the tradable financial assets or financial liabilities; the financial assets or financial
liabilities that are designated to be calculated in the fair values and whose changes will be accrued to the current profit
and loss;
② The investments that are held to the maturity dates;
③ Loans and accounts receivable;
④ Saleable financial assets;
⑤ Other financial liabilities.
2. Initial confirmation and subsequent calculation
① The financial assets or financial liabilities that are calculated in the fair values and whose changes are accrued to the
current profit and loss: the fair values to get them will be the initial confirmation amount and the relevant transaction
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expenses will be accrued to the current profit and loss at the time of occurrence. The cash dividends or bond interests in
the payments that have been declared to be distributed will be separately confirmed as the receivable Items. The interests
or cash dividends obtained during the holding period will be confirmed as the investment gains. On the preparation date of
financial statement, the changes of fair values will be accrued to the current profit and loss.
② The investments that are held to the maturity dates: the sum of fair values and relevant expenses to get them will be
deemed as the initial confirmation amount. The cash dividends or bond interests in the payments that have been declared
to be distributed will be separately confirmed as the receivable Items. The interest incomes confirmed in accordance with
the effective interest rate method during the holding period will be accrued to the investment gains.
③ Accounts receivable: the prices in the contracts and agreements with the purchasers will be the initial book-keeping
amount. The company employs the actual interest method, and makes the subsequent calculation based on the
amortized cost. The profits and losses after termination of confirmation, depreciation or amortization will be accrued to the
current profit and loss.
④Saleable financial assets: the sum of fair values and relevant expenses to get them will be deemed as the initial
confirmation amount. The cash dividends or bond interests in the payments that have been declared to be distributed will
be separately confirmed as the receivable Items. The interests and cash dividends generated during the holding period
will be accrued to the investment gains. At the end of the period, the saleable financial assets will be calculated in the fair
values and the changes of fair values will be accrued to the capital reserves (other capital reserves).
⑤Other financial liabilities: the sum of fair values and relevant expenses to get them will be deemed as the initial
book-keeping amount. The subsequent calculation will employ the amortized cost method. The profits and losses after
termination of confirmation or amortization will be accrued to the current profit and loss.
3. Determination Method about Fair Values of Main Financial Assets and Financial Liabilities
① For the active financial assets or financial liabilities in the market, the quotations will be used for determination of their
fair values.
② For the inactive financial instruments, the enterprises will employ the evaluation technology to determine their fair
values.
③ The financial assets that are initially obtained or derived or financial liabilities will take the market transaction prices as
the basis to determine their fair values.
④ In case the enterprise employs the discounted cash flow method to determine the fair values, the market return rates
of other financial instruments with the essentially same contract terms and characteristics may be used as the discounting
rate. In case the short-term accounts receivable without indicating the interest rate and current values of accounts payable
have the very small price difference with the actual transaction prices, they will be calculated at the actual transaction
prices.
4. Disposal of Financial Asset Depreciation
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At the end of the period, in case enough evidences prove that all financial assets except those that are calculated in the
fair values and whose changes are accrued to the current profit and loss have been depreciated, the depreciation reserve
will be withdrawn based on the difference between the expected cash flow values in the future and the book values.
(1) Accounts receivable (including the accounts receivable and other accounts receivable)
Confirmation standard and withdrawal method of the bad debt reserve for accounts receivable with large individual
amount:
Judgment basis or amount standard of Accounts accounting for over 10% of book values of accounts
large individual amount receivable
If the company makes the depreciation test and there are enough
evidences proving that they have been depreciated, the bad debt
reserve will be withdrawn based on the difference between the
Withdrawal method of bad debt reserve for
expected cash flow values in the future and the book values. If the
large individual amount
company makes the depreciation test and finds that they have not
been depreciated, the bad debt reserve will be withdrawn in the age
analysis method in line with the credit risk combination.
Accounts receivable whose bad debt reserves are withdrawn based on the combination
Basis for combination determination The age is taken the confirmation basis of credit risk combination
Withdrawal method to withdraw the bad Age analysis method
debt reserve based on combination
Withdrawal method to withdraw the bad debt reserve for accounts receivable with the age as the credit risk combination:
Age Withdrawal percentage of Withdrawal Percentage of
accounts receivable other accounts receivable
Less than one year (including one year) 5% 5%
One to two years (including two years) 6% 6%
Two to three years (including three years) 20% 20%
Three to four years (including four years) 70% 70%
Four to five years (including five years) 90% 90%
Over five years 100% 100%
For the fund transfer between the companies within the consolidation scope, no bad debt reserve will be withdrawn.
While making the combination test, if there are the signs indicating that the recovery of some
accounts receivable are obviously different from other accounts receivable at this age and
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otherwise this cannot truly reflect the recovered amount if the bad debt reserve are withdrawn, the
individual confirmation method will be employed for withdrawing the bad debt reserve.
Accounts receivable whose individual amount is not large but whose individual bad debt reserve is withdrawn
The confirmation basis is that the individual amount is not large
Basis for combination confirmation
but the age is over 3 years.
The company makes the single depreciation test, and the bad debt
reserve will be withdrawn based on the difference between the
expected cash flow values in the future and the book values. If the
Withdrawal method of bad debt reserve
company cannot accurately forecast the present value of cash flow in
the future, the bad debt reserve will be withdrawn in the age analysis
method in line with the credit risk combination.
For other accounts receivable (including the notes receivable, prepaid accounts, interests receivable and long-term
accounts receivable, etc), the bad debt reserve will be withdrawn based on the difference between the expected cash flow
values in the future and the book values.
For the accounts that cannot finally be recovered, report them for the approval of writing off such bad debts.
(2)The investments that are held to the maturity dates
For the investments that are held to the maturity dates, the depreciation test will be made based on numbers of packages
of the individual or accounts receivable with similar credit risk characteristics. In case enough evidences prove that they
have been depreciated, the depreciation loss will be confirmed and withdrawn based on the difference between the
expected cash flow values in the future and the book values.
If the depreciation reserves are withdrawn for the investments that are held to the maturity dates, and enough evidences
prove that their values have been restored and actually it is related to the facts after confirmation of such loss, the
originally confirmed depreciation reserve will be reversed in case it does not exceed the amortized cost on the transfer
date of such financial assets without withdrawing the depreciation reserve and will be accrued to the current profit and
loss.
(3) Saleable Financial Assets
In case the fair values of saleable financial assets have greatly dropped, or after considering various relevant factors, this
drop tendency is deemed as long-term, the depreciation reserve will be withdrawn based on the difference between the
expected cash flow values in the future and the book values.
In case the saleable financial assets have been depreciated, the accumulated losses caused by the drop of fair values
that have been accrued to the owners’ equities will be transferred, and then the depreciation reserve will be confirmed and
withdrawn.
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For the saleable liability instruments whose depreciation loss has been confirmed, if their fair values during the
subsequent accounting period have gone up and it is actually related to the facts occurring after the confirmation of
original depreciation loss, the originally confirmed depreciation reserve will be reversed and accrued to the current profit
and loss. The depreciation loss of the investments in saleable liability instruments will be reversed and accrued to the
owners’ equities.
(XII) Inventory Calculation Method
1. Inventory Classification
Inventory classification: the inventories of the company mainly include the raw materials, packaging materials, products
under production, products at stock, processing materials and low-value consumable products, etc.
2. The company employs the perpetual inventory method.
3. Pricing method in purchasing and delivery: The purchased inventories shall be accrued at the actual cost. The
purchase and warehousing of various inventories in the company are priced based on the actual cost; The delivery of
stock commodities shall be calculated by the weighted average method and the first-in first-out method; while the
low-value consumable products and packaging materials are taken, they will be accrued to the cost at one time.
4. Confirmation standard and withdrawal method of inventory depreciation reserve
After the complete check about the inventories at the end of the period, the inventory depreciation reserve will be
withdrawn or adjusted based on the lower between the inventory cost and discountable net value. The discountable net
value will be determined after the deduction of the possible cost, marketing expense and relevant taxes from the current
evaluation of inventories in the normal production and operation period. Normally, the inventory depreciation reserve will
be withdrawn in accordance with the individual inventory Item, but for the large quantity of low-unit-price inventories, the
inventory depreciation reserve will be withdrawn in accordance with the inventory type; for the inventories that are related
to the product series produced and sold in the same area, have the same or similar final usage and purposes and are hard
to be separately calculated from other Items, their depreciation reserves will be consolidated.
On the preparation date of balance sheet, in case the impact factors of the withdrawn inventory depreciation reserve
disappear, the deducted inventory values will be restored and reversed in the originally withdrawn 1inventory depreciation
reserve; the transferred amount will be accrued to the current profit and loss.
(XIII) Long-term Equity Investment
1. Initial Calculation
(1) Long-term equity investment caused by the enterprise merger
① In case the long-term equity investment are made to obtain the equities of the enterprises under the same control and
the company pays the cash, transfers the non-cash assets or bears the liabilities as the consideration for the merger, the
book value share on the merging date to obtain the owners’ equities of the merging party will be deemed as the initial
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investment cost of long-term equity investment. The difference between the initial investment cost of long-term equity
investment and paid cash, transferred non-cash assets and book values of liabilities will be supplemented by the capital
reserve; in case the capital reserve is not enough, the remaining gains will be adjusted. In case the company issues the
equity securities as the merger consideration, the book value share on the merging date to obtain the owners’ equities of
the merging party will be deemed as the initial investment cost of long-term equity investment. If the book value amount of
the issued shares is deemed as the capital, the difference between the initial investment cost of long-term equity
investment and the book value amount of the issued shares will be supplemented by the capital reserve; in case the
capital reserve is not enough, the remaining gains will be adjusted. All direct expenses related to the enterprise merger,
including the auditing expense, evaluation expense, legal service expense, etc will be accrued to the current profit and
loss.
②In case the long-term equity investment are made to obtain the equities of the merging enterprises which are not under
the same control, the merger cost will be the paid assets, existing liabilities and fair values of the issued equity securities
on the purchasing date to purchase the control right of such enterprises. In case the absorption merger method is
employed, the difference between the enterprise merger cost and the identifiable net asset values of such enterprises will
be confirmed as the goodwill or accrued to the current profit and loss. In case the controlling merger is employed and the
enterprise merger cost is more than the identifiable net asset values of such enterprises in the merger, the difference
between them will be confirmed as the goodwill in the consolidated balance sheet. In case the enterprise merger cost is
less than the identifiable net asset values of such enterprises in the merger, the difference between them will be accrued
to the current profit and loss. All direct expenses related to the enterprise merger will be accrued to the enterprise merger
cost (except the issuing expenses of bonds and equity instruments).
(2) Other types of long-term equity investment
① In case the cash investment is made to obtain the long-term equity, the actual payment amount will be deemed as the
initial investment cost. The initial investment costs also include the direct expenses related to the long-term equity
investment, taxes and other necessary expenses.
②In case the long-term equity investment is made by issuing the equity securities, the fair values of issued equity
securities will be deemed as the initial investment cost.
③For the long-term equity investment made by the investors, the values agreed in the investment contracts or
agreements will be deemed as the initial investment cost, except that the contracts or agreements provide that the values
are not fair.
④In case the long-term equity investment is made by exchanging the non-currency assets, and this exchange has the
commercial substance and the fair values of said assets can be reliably calculated, the fair values of the assets and
relevant taxes will be deemed as the initial investment cost; the difference between the fair values of the assets and book
values will be accrued to the current profit and loss; in case the non-currency asset exchange does not have the above
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two conditions, the book values of the assets and relevant taxes will be deemed as the initial investment cost.
⑤In case the long-term equity investment is made by the mode of liability restructure, the fair values of the obtained
equities will be deemed as the initial investment cost; the difference between the initial investment cost and book values of
liabilities will be accrued to the current profit and loss.
2. Subsequent Calculation
(1) The cost method is employed to calculate the long-term equity investment of subcompanies and will be adjusted in
accordance with the equity method in the preparation of the consolidated financial statements.
(2) The cost method is used to calculate the long-term equity investments in the invested units which are not under the
common control or of important impact, are not quoted in the active market or whose fair values cannot be reliably
calculated. In employing the cost method, add or return the cost used for adjusting the long-term equity investment. The
current investment gains are only limited to the distributed amount of accumulative net profit generated by the investment
in the invested units since the investment completion. The profits or cash dividends exceeding the above amount that are
declared to be distributed by the invested units will be deemed as the return of initial investment cost, deducting the book
values of investments.
(3) The equity method is used to calculate the long-term equity investments in the invested units, which
are under the common control or of important impact. In employing the cost method, in line with the net
profit and loss share of invested units to be distributed or borne, confirm the profit and loss of
investments and adjust the book values of long-term equity investments. The profit and loss of current
investment will be the net profit or net loss share of invested units to be distributed or borne in the current
year. In confirming the net loss of invested units to be borne, the limit is the zero of book values of
investment (except that the investment enterprises bear the obligations for additional loss); in case the
invested units make the net profits in the future and the distribution amount of gains exceeds the
unconfirmed loss amount, the book values of investment will be restored subject to the unconfirmed loss
amount to be borne.
(4) In case the invested units employs the different accounting policies and accounting periods from the investment
enterprises, the accounting policies and accounting periods of the investment enterprises will be employed to adjust the
financial statements of invested units and confirm the investment gains. As regards the other changes of owners’ equities
except the net profit and loss of the invested units, the investment units will adjust the book values of long-term equity
investments and accrue them to the owners’ equities.
(5) In disposing of the long-term equity investment, the difference between the book values and actual payments will be
accrued to the current profit and loss. In case the equity method is employed to calculate the long-term equity investment
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and the other changes of owners’ equities except the net profit and loss of the invested units are accrued to the owners’
equities, the part that has been accrued to the owners’ equities will be proportionally transferred to the current profit and
loss.
3. Confirmation standard and withdrawal method of depreciation reserve for long-term equity investment
In case the cost method is used to calculate the long-term equity investments which are not quoted in the active market or
whose fair values cannot be reliably calculated, the depreciation loss will be determined based on the difference between
the book values and current values determined by the discounting of future cash flow in line with the current market return
rate of similar financial assets. For the other long-term equity investments, in case the calculation results of receivable
amounts indicate that the receivable amount of this long-term equity investment is less than their book values, the
difference will be confirmed as the asset depreciation losses. Once the depreciation loss of long-term equity investment is
confirmed, they will not be reversed.
(XIV) Real Estate for Investment
The real estates for investment refer to the real estates that are held for the purpose of earning the rent or capital
increment, or for both of them, including the land use rights that have been rented or will be transferred after the value
increment, or the structures that have been rented.
The company employs the cost mode to calculate the current real estates for investment and withdraws the depreciation
or amortization in accordance with the same depreciation or amortization policies of fixed assets and intangible assets in
the company. In case the real estates for investment are transferred to other assets or other assets are transferred to the
real estates for investment, the book values of real estates before the transfer will be the book values after the transfer. In
case the company sells, transfers and rejects the real estates for investment or the real estates for investment are
damaged, the remaining amount after the deduction of book values and relevant taxes from disposal incomes will be
accrued to the current profit and loss. In case the received amount is less than the book values, the depreciation reserve
will be withdrawn based on the difference between the receivable amount of individual real estate for investment and their
book values; Once the depreciation losses are withdrawn, they will not be reversed.
(XV) Fixed Asset Pricing and Depreciation Method
1. Confirmation condition for fixed assets
The fixed assets refer to the tangible assets with the usage life of over one accounting year that are held for commodity
production, labor provision, renting or operational management The fixed assets will be confirmed if they meet the
following conditions:
(1) The economic benefits related to this fixed asset probably flow to the enterprise;
(2) The cost of this fixed asset may be reliably calculated.
2. Classification of Fixed Assets
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The fixed assets may be classified into the following Items: houses and buildings, machine equipments, transportation
equipments, electronic equipment and others.
3. Calculation of fixed assets
The actual costs of fixed assets will be deemed as the initial calculation amount.
(1) In case the prices to purchase the fixed assets exceed the normal credit conditions and cause the payment deferment
and are characteristic of the financing nature, the costs of fixed assets will be determined based on the current values of
purchase prices.
(2) In case the fixed assets are obtained by the liability restructure to write off the liabilities of debtors, their book values
will be determined based on the fair values of this fixed asset. The difference between the book values of restructuring
liabilities and the fair values of this fixed asset will be accrued to the current profit and loss. In case the non-currency asset
exchange is characteristic of commercial substance and the fair values of received or delivered assets can be reliably
calculated, the book values of received fixed assets in the non-currency asset exchange will normally be determined
based on the fair values of delivered assets, except that the accurate evidences indicate that the fair values of received
assets are more reliable. In case any non-currency asset exchange does not meet the above conditions, the book values
of delivered assets and the payable taxes will be deemed as the costs of received fixed assets. No profit and loss will be
confirmed.
(3) The book values of fixed assets to be obtained by the absorption merger from the enterprises which are under the
same control will be determined based on the book values of merging party; the book values of fixed assets to be obtained
by the absorption merger from the enterprises which are not under the same control will be determined based on their fair
values.
The rejection expenses of fixed assets will be calculated and accrued to the book values of fixed assets based on the
current values.
In case the subsequent payments related to the fixed assets make the economic benefits generated by the inflow of this
fixed asset to the enterprise exceed the original evaluations, the exceeding part will be accrued to the book values of fixed
assets. The increased amount will not exceed the receivable amount of this fixed asset.
4. The depreciation method of fixed assets: the average life method is used to calculate the depreciation of fixed assets in
the company from the next month after such fixed assets meet the expected usable conditions. The depreciation life,
annual depreciation rate and assessed residual value rate of various fixed assets are listed as follows:
Fixed Asset category Depreciation life (years) Annual depreciation rate Assessed residual value
rate
Houses and buildings 20 4.5%-4.75% 5%-10%
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Machine equipments 10 9%-9.5% 5%-10%
Transportation 5 18%-19% 5%-10%
equipments
Electronic equipment and 5 18%-19% 5%-10%
others
5. Confirmation about the depreciation reserve of fixed assets: at the end of each period, the company will judge if
relevant assets have any signs of possible depreciation. If so, the company will evaluate the receivable amount. The
receivable amount will be determined based on the larger one between the net amount after the deduction of disposal
expenses from the fair values of this asset and the current values of expected cash flow of this asset in the future. If the
receivable amount of this asset is less than the book values, the difference will be confirmed as the depreciation loss of
assets. The depreciation reserves of fixed assets will be withdrawn subject to the individual asset. Once the depreciation
losses of assets are confirmed, they will not be reversed in the future accounting period.
In withdrawing the depreciation for the fixed assets whose depreciation reserves have been withdrawn, based on the book
values of this fixed asset and the remaining usage life, the depreciation rate and depreciation amount will be calculated
and determined once again. The fixed assets whose depreciation reserves have been fully withdrawn will not be
withdrawn once again.
(XVI) Calculation Method of Projects under Construction
1. Classification of projects under construction
The projects under construction will be calculated based on the classification of proposed projects.
2. Transfer time of projects under construction to fixed assets
For the projects under construction, all expenses occurring before they are ready for the use will be the book values as the
fixed assets. In case the projects under construction has been ready for use but the final accounts for completion have not
been handled, from the date when such projects has been ready for use, the company will evaluate the values and
determine the costs based on the project budgets, prices or actual costs of projects, etc and the depreciation amount will
also be withdrawn; when the final accounts for completion are handled, the company will adjust the originally evaluated
values subject to the actual costs, but will not adjust the withdrawn depreciation amount.
3. Depreciation of projects under construction: at the end of the period, the company will judge if the depreciation reserves
are withdrawn based on the depreciation signs of such projects. In case the projects that have been stopped for a long
time and will not be rebuilt within three years are expected to be depreciated, the depreciation reserves for such projects
will be withdrawn for the difference amount between the receivable amount and the book values. Once the depreciation
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reserves for such projects are withdrawn, they will not be reversed.
(XVII) Loan expense
1. In case the loan expenses occurring in the company may directly be attributable to the construction and productions of
assets complying with the capitalization conditions , they will be capitalized and accrued to the relevant capital costs; other
loan expenses will be confirmed as the expenses based on the actual amount in the time of occurrence and accrued to
the current profit and loss. The assets complying with the capitalization conditions mean the assets such as fixed assets,
real estates for investment and inventory, etc that need a long time of construction and production activities before being
ready for use or for sales. The loan expenses begin to be capitalized under the following circumstances:
(1) The asset payments that have been made include the payments such as the paid cashes, transferred non-currency
assets or borne liabilities with the interests to construct or produce the assets complying with the capitalization conditions;
(2) The loan expenses have occurred;
(3) The necessary construction or production activities to make the assets ready for use or sales have been launched.
2. During the capitalization period, the capitalized amounts of interests (including the amortization of
discounting or premium) during each accounting period will be determined in accordance with the
following provisions:
(1) For the special loans that are borrowed to construct or produce the assets complying with the
capitalization conditions, the company will determine capitalized amounts by deducting the interest
incomes generated from the depositing of unused loan capitals in the banks or the investment returns
from temporary investments from the interest expenses occurring in the current period of special loans.
(2) For the general loans that are used to construct or produce the assets complying with the
capitalization conditions, the interest amount of general loans to be capitalized will be determined by
multiplying the weighed average amount of the asset payments by which the accumulated assets
exceed the special loans with the capitalization rate of general loans. The capitalization rate will be
determined based on the weighed average interest rate of general loans. The capitalization period
means the period from the starting time to ending time of the loan expense capitalization, and the period
in which the loan expense capitalization is suspended will not be included.
3. In case the loans have the discounts or premiums, the company will adjust the interest amount in each
period based on the amortized discount and premium amounts in each accounting period in accordance
with the effective interest rate method.
4. During the capitalization period, the company will capitalize the difference between foreign exchanges
about the principals and interests of special foreign currency loans, and accrue it to the asset costs
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complying with the capitalization conditions.
5. The capitalization of loan expenses for the assets complying with capitalization conditions that have been constructed
or produced and are ready for use or sales will be stopped. The loan expenses occurring after the assets complying with
capitalization conditions are ready for use or sales will be confirmed as the expenses based on the actual amounts and be
accrued to the current profit and loss.
(XVIII) Biological assets
1. Confirmation standard and classification of biological assets
The biological assets of company are the consumable biological assets such as the Chinese traditional medicines, etc.
The biological assets of company will be initially calculated based on the cost. The costs of purchased biological assets
include the purchase prices, relevant taxes, insurance expenses and other expenses which may be directly attributable to
the purchase of such assets. For the biological assets of investors, the values specified by the investment contracts or
agreements plus the payable taxes will be the book-keeping values of biological assets. However, if the values specified
by contracts or agreements are not fair, the actual costs will be determined based on the fair values. The self-made
consumable biological assets, including the necessary expenses such as the forest expenses before coverage, alimony,
operational equipment expenses, testing expense of good species, investigation and design expenses, capitalized
interests and amortized indirect expenses. The subsequent expenses for the management and protection or for the
breeding of a biological asset after coverage or after the accomplishment of the expected objective of production and
operation will be included in the current profit and loss.
For the consumable biological assets, the company will calculate the costs based on the book values at the time of cutting,
and the method for calculating the cost will employ the weighed average method.
2. Testing method of biological assets depreciation and withdrawal method of depreciation reserve
The company will check the consumable biological assets at least at the end of each year. If obvious evidences indicate
that the net realizable value of consumable biological assets or receivable amounts of production biological assets is less
than their book values for the reasons of natural calamities, disease and insect pest, infection of animal diseases or
changes about market demands, etc, and the depreciation reserve of biological assets will be withdrawn based on the
difference between the net realizable values or receivable amounts and book values, and be accrued to the current profit
and loss.
If the impact factors of consumable biological asset depreciation disappear, the deducted amounts will be recovered, and
the originally withdrawn depreciation reserve amounts will be reversed and the reversed amounts will be accrued to the
current profit and loss.
(XIX) Calculation Method of Intangible Assets
1. Confirmation condition of intangible assets
The intangible assets mean the identifiable non-currency assets without the actual substance status that
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are owned or controlled by the enterprises. Only the intangible assets meeting the following conditions
will be confirmed:
(1) The economic benefits related to this intangible asset probably flow to the enterprise;
(2) The cost of this fixed asset may be reliably calculated.
2. Pricing of intangible assets
The intangible assets will be originally calculated based on the actual costs.
(1)In case the prices to purchase the intangible assets exceed the normal credit conditions and cause the payment
deferment and are characteristic of the financing nature, the costs of intangible assets will be determined based on the
current values of purchase prices
(2) In case the intangible assets are obtained by the liability restructure to write off the liabilities of debtors, their book
values will be determined based on the fair values of this intangible asset. The difference between the book values of
restructuring liabilities and the fair values of this intangible asset will be accrued to the current profit and loss. In case the
non-currency asset exchange is characteristic of commercial substance and the fair values of received or delivered assets
can be reliably calculated, the book values of received intangible assets in the non-currency asset exchange will normally
be determined based on the fair values of delivered assets, except that the accurate evidences indicate that the fair
values of received assets are more reliable. In case any non-currency asset exchange does not meet the above
conditions, the book values of delivered assets and the payable taxes will be deemed as the costs of received intangible
assets. No profit and loss will be confirmed.
(3) The book values of intangible assets to be obtained by the absorption merger from the enterprises which are under the
same control will be determined based on the book values of merging party; the book values of intangible assets to be
obtained by the absorption merger from the enterprises which are not under the same control will be determined based on
their fair values.
3. Usage life and amortization of intangible assets
In obtaining the intangible assets, the company will analyze and judge their usage life. In case their usage life is limited,
the company will evaluate the usage years or the quantity of calculation units such as the capacity constituting the usage
life; in case it’s impossible to evaluate the usage life when the intangible assets bring the benefits to enterprises, it will be
deemed that the usage life of such intangible assets is uncertain.
Amortization method of intangible assets: for the intangible assets with the limited usage life, the average amortization
amount in the usage life will be accrued to the profit and loss. For the intangible assets with the uncertain usage life, no
amortization will be made. At the end of each year, the company will recheck the usage life of intangible assets with the
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limited usage life and amortization method. In case the usage life and amortization method are different from the original
ones, the amortization life and method after the recheck will be employed.
4. The depreciation of intangible assets will be handled in accordance with the accounting polices about asset
depreciation. Once the depreciation losses of intangible assets are confirmed, they will not be reversed in the future
accounting period.
(XX) Research and Development Expenses
The expenses for the research and development of projects in the company include the expenses for the research stage
and development stage.
The expense for the research stage means the expense occurring for the planned investigations of the company about the
innovative exploration in order to obtain and understand the latest science and technical knowledge, which are the
preparations made for the further development activities; whether the already done research activities will be transferred
to the development or the development will turn to the intangible assets has a lot of uncertainty.
The expense for the development stage means the expense occurring to apply the research results or other knowledge to
a certain plan or design and produce the new or substantially improved materials, equipments and products, etc before
the launch of commercial production and use. Compared with the research stage, the development stage comes on the
basic condition that the research stage work is completed and has greatly turned to a new product or technology.
The expense in the research stage of projects in the company will be accrued to the current profit and loss in the time of
occurrence; the expense in the development stage will be confirmed as the intangible assets if the following conditions are
met:
1. The completion of this intangible asset will make it have the feasibility to be able to be used or sold.
2. Complete this intangible asset for the purpose of use and selling.
3. The means by which the intangible assets bring the economic benefits.
4. Have enough technical and financial resources and other supports to complete the development of this intangible asset
and be able to use and sell this intangible asset.
5. The expense attributable to the development stage of this intangible asset can be reliably calculated.
(XXI) Amortization Method of Long-term Amortization Expenses
The overhaul payment of fixed assets in the company will be averagely amortized during the overhaul interval; other
long-term amortization expenses will be averagely amortized during the benefiting period.
(XXII) Asset Depreciation
1. Definition of asset depreciation
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丽珠医药集团股份有限公司 2013 年半年度报告全文
The asset depreciation means that the receivable amount of assets is less than their book values. On the preparation date
of balance sheet, the company will judge if relevant assets have any signs of possible depreciation. If so, the company will
evaluate the receivable amount. In case the receivable amount of assets is less than their book values, such book values
will be deducted to the receivable amount and the deducted amount is confirmed as the depreciation loss of assets and
accrued to the current profit and loss; at the same time, the relevant depreciation reserves of assets will be withdrawn.
Once the depreciation losses of assets are confirmed, they will not be reversed in the future accounting period. After the
confirmation of depreciation losses of assets, the depreciation or amortization expenses of assets will be adjusted in the
future period so that in the remaining usage life of this asset, the company will systemically amortize the adjusted book
values of assets. The following signs indicate that the assets are possibly depreciated:
(1) The market prices of assets drop greatly and the drop extent is clearly higher than the expected drop for the time
passage or normal use.
(2) The economic, technical or legal environments and markets where the company is operating are greatly changing in
the current period or in the near future, which will exercise the unfavorable impacts on the company.
(3) The interest rate or other investment return rate in the market have been enhanced in the current period, which will
influence on the calculation of the discounting rate of cash flow values in the future and lead to the great decrease of
receivable amount of assets.
(4) The evidences indicate that the assets have been too old or the substances have been damaged.
(5) The assets have been or will be left unused, stopped to be used or planned to be disposed in advance.
(6) The evidences from the internal reports in the company indicate that the economic performance of assets have been
or will be less than the expected performance. For example, the net cash flow or operating profits (or losses) created by
the assets are greatly less (more) than the expected amounts, etc.
(7) Other signs that indicate the assets may possibly be depreciated.
2. Determination of depreciation loss of assets
(1) At the end of the period, the company will inspect the long-term equity investment, fixed assets, projects under
construction, intangible assets and goodwill, etc to judge if there are any signs of possible depreciation. For the goodwill
caused by the enterprise merger and the intangible assets with the uncertain usage life, whether there are signs of
possible depreciation, the depreciation tests will be made each year.
(2) If the assets have any signs of possible depreciation, the company will evaluate the receivable amount. The receivable
amount will be determined based on the larger one between the net amount after the deduction of disposal expenses from
the fair values of this asset and the current values of expected cash flow of this asset in the future. If the receivable
amount of this asset is less than the book values, such book values will be deducted to the receivable amount and the
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丽珠医药集团股份有限公司 2013 年半年度报告全文
deducted amount is confirmed as the depreciation loss of assets and accrued to the current profit and loss. The
depreciation tests of goodwill and its relevant asset groups (or asset group combination, the same below) will be made.
The goodwill reflected in the consolidated financial statement will not include the goodwill of subcompany attributable to
the equity for the minority of shareholders; but the tests of the depreciation about relevant asset groups will include the
goodwill attributable to the equity for the minority of shareholders; the company will adjust the book values of asset groups
and compare the adjusted book values of asset groups with their receivable amounts to determine if the asset groups
(including the goodwill) are depreciated. If so, the company will deduct the equity share of the minority of shareholders
from the above losses to determine the depreciation losses of goodwill attributable to the parent company. Once the
depreciation losses of assets such as the long-term equity investment, the real estates for investment calculated by the
cost mode, fixed assets, intangible assets and goodwill are confirmed, they will not be reversed in the future accounting
periods.
3. Calculation method of asset group
(1) Generally, the company will evaluate the receivable amount subject to the individual asset. In case the receivable
amount of individual asset cannot be evaluated, the receivable amount of asset groups will be determined based on the
asset groups containing this asset. The determination of asset groups will be based on whether the main cash inflow
generated by the asset groups are independent from other assets or cash inflow of asset groups; at the same time, it’s
necessary to consider the production and operation management mode of the company and the policy-deciding mode
about the continuous use or disposal of assets, etc. Once the asset groups are determined, they will not be changed in
each accounting period.
(2) The receivable amount of asset groups will be determined based on the larger one between the net amount after the
deduction of disposal expenses from the fair values of this asset group and the current values of expected cash flow in the
future.
(3) If the receivable amount of the asset group or asset group combination is less than the book values, the relevant
depreciation loss will be confirmed. The depreciation loss amount will at first write off the book values of goodwill that are
amortized to the asset groups or asset group combinations, then based on the percentage of book values of various other
assets except the goodwill in the asset groups or asset group combination, write off the book values of various other
assets in the above proportion.
(XXIII) Confirmation Principle of Expected Liabilities
1. Confirmation Principle of Expected Liabilities
The obligations related to contingent events that meet the following conditions at the same time will be confirmed as the
liabilities:
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(1) This obligation is the current obligation of the company;
(2) The performance of this obligation will probably cause the economic benefits to flow out of the company;
(3) The amount of this obligation can be reliably calculated.
In case the loss contracts and restructuring obligations of the company meet the above conditions, they will be confirmed
as the expected liabilities.
2. Determination method about optimum evaluation amount of expected liabilities
In case the necessary payments have a amount scope, the optimum evaluation amount will be determined based on the
average amount between the upper and lower limits of amounts; in case the necessary payments do not have such a
amount scope, the optimum evaluation amount will be determined in the following method:
(1) If the contingent events involve the individual project, the optimum evaluation amount will be determined based on the
possible amount;
(2) If the contingent events involve many projects, the optimum evaluation amount will be determined based on the
possible amount and occurrence probability. In case all or parts of payments about the confirmed liquidation liabilities are
expected to be compensated by the third parties or other parties and the compensation amount are surely received, such
amounts will be separately confirmed. The confirmed compensation amounts will not exceed the book values of confirmed
liabilities.
(XXIV) Repurchase of company shares
If, after obtaining the approval in accordance with the legal procedures, the company reduces the share capitals by
repurchasing the company shares, the share capitals will be reduced based on the total book values of cancelled shares;
the owners’ equities will be adjusted based on the differences between the prices (including the transaction expenses)
paid to repurchase the shares and book values of shares; the remaining amount exceeding the total book values will be
offset against the capital reserve (share premium), surplus reserve and undistributed profit in sequence; if the prices are
less than the total book values, the amounts less than total book values will be compensated by adding the capital reserve
(share premium).
Before the shares repurchased by the company are cancelled or transferred, they will be managed as the inventory
shares; all payments to repurchase the shares will be transferred to the costs of inventory shares.
In transferring the inventory shares, if the incomes from such transfers exceed the costs of inventory shares, the
remaining incomes will be added to the capital reserves (share premiums); if the incomes from such transfers are less
than the costs of inventory shares, the part less than such costs will be offset against the capital reserves (share
premiums), surplus reserve and undistributed profit in sequence.
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(XXV) Confirmation Principle of Income
1. Commodity sales
(1) General principle
The company has transferred the main risks and rewards about commodity ownership to the purchasers; the company
does not reserve any continuous management rights normally related to the ownership nor performs any effective control
about the sold commodities; the income amounts will be reliably calculated; the relevant economic benefit will probably
flow into the enterprise; in case the relevant costs that have occurred or will occur may be reliably calculated, the
achievement of operating incomes will be confirmed.
(2) Concrete method
If the company sells the commodities by the mode of sales, the company will sign the sales contracts with the distributors,
and after receiving the orders from the distributors and shipping the commodities, the company will issue the invoice and
confirm the sales income.
2. Provision of labors
In case on the preparation date of balance sheet the results about labor provision transaction can be reliably evaluated,
the labor income will be confirmed by the completion percentage method. Based on the actual situation, the completion
progress of labor provision will be determined in the following methods:
(1) Measurement about the work that has already been completed.
(2) The percentage of the provided labors in the total labor capacity.
(3) The percentage of the occurring costs in the total costs.
The company will determine the total amount of labor provision based on the prices in contracts and agreements that have
been received or will be receivable, except that such prices are not fair. On the preparation date, the current labor incomes
will be determined based on the amount after the total labor income amount multiplied by the completion progress deducts
the accumulated labors in the past accounting periods.
In case the labor transaction results on the preparation date of balance sheet cannot be reliably evaluated, they will be
handled by the following means:
(1) In case the labor costs that have occurred can be compensated, the labor income will be confirmed based on such
labor costs and the same amounts will be settled as the labor costs.
(2) In case the labor costs that have occurred cannot be compensated, such labor costs will be accrued to the current
profit and loss and will not be confirmed as the labor costs.
3. Use right of transferred assets
In case the economic benefits related to the transaction will probably flow into the enterprise and the income amounts can
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be reliably calculated, the company will determine the income amount about use right of transferred assets by the
following means:
(1) The interest income amount will be calculated and determined based on the use time of currency capital from the
company by others and effective interest rate.
(2) The income amount of use expenses will be calculated and determined subject to the charging time and method
agreed in the relevant contracts and agreements.
(XXVI) Governmental allowance
1. Confirmation principle: only the governmental allowance meeting the following conditions will be
confirmed:
(1) The enterprises can meet the relevant conditions required by the governmental allowance;
(2) The enterprises can receive the governmental allowance.
2. Calculation: If the governmental allowances are the monetary assets, they will be calculated at the
received or receivable amounts. If the governmental allowances are the non-monetary assets, they will
be calculated at the fair values; if the fair values are not reliably given, they will be calculated at the
nominal amounts.
3. Accounting processing: the governmental allowances related to assets will be confirmed as the
deferred gains, be averagely distributed in the usage life of relevant assets, and be accrued to the
current profit and loss. The governmental allowances calculated in the nominal amounts will be directly
accrued to the current profit and loss.
The governmental allowances related to gains will be separately processed in the following cases:
(1) The governmental allowances that are used to compensate the relevant expenses and losses of
enterprises in the future periods will be confirmed as the deferred gains, and be accrued to the current
profit and loss in the confirmed periods of relevant expenses.
(2) The governmental allowances that are used to compensate the relevant expenses and losses of enterprises that have
occurred will be accrued to the current profit and loss.
(XXVII) Confirmation about deferred income tax assets and liabilities
Based on the differences between the book values of assets and liabilities and taxation basis (for the
Items that have not been confirmed as the assets and liabilities, if their taxation basis may be determined
in accordance with the taxation provisions, the difference between such taxation basis and their book
values will be applied), the deferred income tax assets or deferred income tax liabilities will be confirmed
at the applicable tax rate during the expected periods of returning such assets or settling such liabilities.
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丽珠医药集团股份有限公司 2013 年半年度报告全文
The company will confirm the deferred income tax assets generated by the deductible temporary
difference within the limit of taxable income amount that may be obtained and used to deduct such
difference. On the preparation date of balance sheet, if enough evidences prove that the taxable income
amounts that may be probably obtained in the future periods may be used to deduct the deductible
temporary differences, they will be confirmed as the deferred income tax assets that have not been
confirmed in the previous accounting periods.
On the preparation date of balance sheet, the company will recheck the book values of deferred income tax assets. If the
taxable income amounts cannot be obtained in the future periods to be used to deduct the benefits of deferred income tax
assets, the company will reduce the book values of deferred income tax assets. If there is great possibility to obtain
enough taxable income amounts, the reduced amounts may be reversed.
(XXVIII) Accounting Processing Method of Income Tax
The accounting processing of income tax in the company employs the balance sheet liability method.
1. Confirmation of deferred income tax assets
(1) The company will confirm the deferred income tax assets generated by the deductible temporary difference within the
limit of taxable income amount that may be obtained and used to deduct such difference. But, at the same time, the
deferred income tax assets generated by the initial confirmation of assets or liabilities in the transactions with the following
characteristics will not be confirmed:
① This transaction is not the enterprise merger;
② The occurrence of transactions will not affect the accounting profits nor affect the taxable income amount (or the
deductible loss).
(2) In case the deductible temporary difference related to the investments in the subcompany, affiliated companies and
joint ventures by the company meet the following conditions at the same time, they will be confirmed as the corresponding
deferred income tax assets:
① The temporary difference will probably be reversed in the foreseeable future;
② The taxable income tax amount that is used to deduct the temporary difference will probably be obtained in the future.
(3) If the company can settle the deductible loss and tax deduction in the coming years, the company will confirm the
relevant deferred income tax assets within the limit of taxable income amount in the future that may be obtained and used
to deduct such deductible loss and tax deduction.
2. Confirmation of deferred income tax liabilities
Except the deferred income tax liabilities generated by the following cases, the company will confirm the deferred income
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tax liabilities generated by the all taxable temporary difference.
(1) Initial confirmation of goodwill;
(2) Initial confirmation of assets or liabilities generated by the transactions complying with the following characteristics at
the same time:
① This transaction is not the enterprise merger;
② The occurrence of transactions will not affect the accounting profits nor affect the taxable income amount (or the
deductible loss).
(3) The taxable temporary difference related to the investments in the subcompany, affiliated companies and joint ventures
by the company meet the following conditions at the same time:
① The investment enterprises can control the reversion time of temporary difference;
② The temporary difference will not probably be reversed in the foreseeable future.
3. Calculation of income tax expenses
The company will accrue the current income taxes and deferred income taxes to the current profit and loss as the income
tax expenses and benefits, but will not include the income taxes generated in the following cases:
① Enterprise merger;
② Transactions or Items that are directly confirmed in the owners’ equities.
(XXIX) Accounting Policies, Accounting Evaluation Changes and Correction of Accounting Errors
During this period, the company has not made any changes about accounting policies and accounting evaluation or any
correction of accounting errors.
III. Taxes
The applicable tax Items and tax rate of the company are listed as follows:
Tax Item Taxation Basis Tax Rate
The value-added tax rate for selling
Sales income of products and the biological preparations is 6%, and
Value-added tax
materials the value-added tax rate for selling
the other products is 17%.
Sales tax Taxable sales income 5%
Urban maintenance and construction
Payable circulating tax amount 5%、7%
tax
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Educational surtax Payable circulating tax amount 3%
Local educational surtax Payable circulating tax amount Note 1
Enterprise income tax Payable income tax amount Note 2
Note 1: the company and subcompanies that are registered in Zhuhai will pay the local educational surtax at 2% of
payable circulating tax amount; the other subcompanies will pay the local educational surtax at the payable circulating tax
amount in accordance with the regulations of its registration place.
Note 2: the enterprise income tax rates will be subject to the following regulations:
Company Name Actual Note
Tax Rate
Livzon (Hongkong) Co., Ltd and Hongkong Antao 16.5% The policies about enterprise income taxes in
Development Limited Hongkong area will be applied.
Macau Jiaanxin Limited and Livzon (Macau) Liimited 0-12% Progressive tax rate, and the tax rate for those with taxable
incomes of over MOP300000 is 12%.
Livzon Pharmaceutical Group Inc. 、 Limin 15% Xinbeijiang Pharmaceutical Co., Ltd under Livzon
Pharmaceutical Co., Ltd under Livzon Group、Livzon Group 、 Zhuhai Livzon Reagent Co., Ltd was
Pharmaceutical Factory under Livzon Group、Livzon granted as the hi-tech enterprises in 2010, and
Syntpharm Co., Ltd in Zhuhai Bonded Area、Shanghai other companies were granted as the hi-tech
Livzon Pharmaceutical Co., Ltd 、 Xinbeijiang enterprises in 2011; the validity period is 3 years.
Pharmaceutical Co., Ltd under Livzon Group、Sichuan
Guangda Pharmaceutical Co., Ltd 、 Zhuhai Livzon
Reagent Co., Ltd、and Fuzhou Fuxing Pharmaceutical
Co., Ltd under Livzon Group
Other subcompanies 25%
IV. Enterprise Merger and Consolidated Financial Statements
(I) Subcompanies that are obtained by the establishment or investment, etc
Registered Business Registered capital
Subcompany Name Subcompany type Operation scope
place nature
Antao Development Limited Wholly-owned Hongkong Investment HKD 0.5 million
subcompany
Livzon (Hongkong) Co., Ltd Wholly-owned Hongkong Investment HKD 61 million
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丽珠医药集团股份有限公司 2013 年半年度报告全文
Registered Business Registered capital
Subcompany Name Subcompany type Operation scope
place nature
subcompany
Zhuhai Modern Chinese Medicine Wholly-owned Zhuhai City Service RMB 6 million Yuan Research and development of
Hi-tech Co., Ltd subcompany industry Chinese medicines and Chinese
medicine technologies and
equipments; technical service and
consultancy
Livzon Pharmaceutical Factory Wholly-owned Zhuhai City Pharmaceutical RMB 442.10930913 Production and sales of Chinese and
under Livzon Group subcompany production million Yuan western medicines, medical
instruments and sanitation materials
Livzon Medicine Marketing Co., Ltd Wholly-owned Zhuhai City Commodity RMB20 million Yuan Sales of products from the company
under Livzon Group subcompany sales and all medical subcompanies
Zhuhai Livzon Medicine Trade Co., Wholly-owned Zhuhai City RMB 60 million Yuan Import and export of Chinese and
Ltd subcompany western medicine preparations and
materials and medical intermediates,
etc. Chinese and western medicine
preparations and materials, medical
Commodity
intermediates, chemical materials,
sales
sanitation materials, sanitation
products, healthcare foodstuffs,
invigorant, biological products,
bio-chemical preparations, medical
cosmetics and medical instruments
Shanghai Livzon Pharmaceutical Wholly-owned Shanghai Pharmaceutical RMB 87.33 million Yuan Production and sales of water
Co., Ltd subcompany City production injection, capsules, power, tablets,
lyophilized preparation, bio-chemical
and peptide material medicines
Livzon Syntpharm Co., Ltd in Wholly-owned Zhuhai City Pharmaceutical RMB 128.28 million Production and sales of chemical
Zhuhai Bonded Area subcompany production Yuan material medicine, medical
preparations, medical intermediates
and chemical products
Zhuhai Livzon Reagent Co., Ltd Controlling Zhuhai City Pharmaceutical RMB 46.45 million Yuan Production and sales of bio-chemical,
subcompany production immune and chemical reagents,
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丽珠医药集团股份有限公司 2013 年半年度报告全文
Registered Business Registered capital
Subcompany Name Subcompany type Operation scope
place nature
biological products, sanitation
products and medical analyzer
equipments
Datong Livzon Qiyuan Medicine Subcompany under Hunyuan RMB 4 million Yuan Plantation and processing of
Co., Ltd controlling subcompany County astragalus membranaceus; purchase
Plantation
and sales of Chinese medicines
industry
(except those that are restricted by the
nation)
Longxi Livzon Shenyuan Medicine Subcompany under Longxi RMB 4 million Yuan Purchase, plantation, processing and
Plantation
Co., Ltd controlling subcompany County storage of Chinese medicines allowed by
industry
the nation
Livzon Medicine Biological Wholly-owned Hongkong Service HKD10000 Biological technology, trade and investment
Technology Co., Ltd subcompany industry
Zhuhai Livzon Advertising Co., Ltd Wholly-owned Zhuhai City Service RMB 1 million Yuan Design, production, agency and
publication of various advertisements
subcompany industry
at home and abroad
Zhuhai Livzon – Bai A Meng Controlling Zhuhai City Pharmaceutical RMB 12 million Yuan Production and sales of
Biological Materials Co., Ltd Hydroxyapatite materials, plasma
subcompany production
spraying HA-Ti artificial tooth and
artificial hip, HA porous ceramic
grains, and porous hydroxyapatite
ceramic products.
Zhuhai Livzon Meidaxin Technology Wholly-owned Zhuhai City Service RMB 1 million Yuan Technical research and development
Development Co., Ltd of information and products related to
subcompany industry
medicines and health-care products;
technical consultancy and service
Livzon Medicine Institute under Wholly-owned Zhuhai City Service RMB 10 million Yuan Research and development of Chinese and
Livzon Group subcompany industry western finished medicines, raw materials
for medicines, medicine intermediate,
Chinese medicine materials, tablet of
Chinese medicines, healthcare and nutrition
products, medical cosmetics, sanitation
materials, bio-chemical reagents, medical
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丽珠医药集团股份有限公司 2013 年半年度报告全文
Registered Business Registered capital
Subcompany Name Subcompany type Operation scope
place nature
instruments, as well as the technical inquiry
and transfer.
Jiaozuo Livzon Syntpharm Co., Ltd Wholly-owned Jiaozuo Pharmaceutical RMB70 million Yuan Production and sales of medical
intermediates, chemical products (the
subcompany City production
above products do not include the
dangerous chemical products and
chemical products used for
drugs-making) (for the above Items
that involve the special approval, the
license or relevant approval
documents must be obtained before
performing the production and
operation)
Zhuhai Livzon Dankang Controlling Zhuhai City Service RMB 200 million Yuan Technical research and development of biological
Biotechnology Co., Ltd subcompany industry medicine products and antibody medicines
Livzon Group Vaccine Engineering Controlling Zhuhai City Service RMB 65 million Yuan Technical research and development of
Co., Ltd subcompany industry bio-medicine products and vaccines
Wenshan Livzon Panax Controlling Wenshan Plantation RMB 9.2 million Yuan Plantation and sales of Panax Notoginseng
Notoginseng Plantation Co., Ltd subcompany City industry and sales of agricultural side products (not
including the grains purchase)
Ningxia Xinbeijiang Pharmaceutical Wholly-owned Pingluo Pharmaceutical RMB 100 million Yuan Under construction
Co., Ltd under Livzon Group subcompany County production
Ningxia Fuxing Pharmaceutical Co., Wholly-owned Pingluo Pharmaceutical RMB 100 million Yuan Under construction
Ltd under Livzon Group subcompany County production
Livzon (Macau) Limited Wholly-owned Macau Service MOP100000
subcompany industry
Macau Jiaanxin Limited Subcompany under Macau Commodities MOP100000
controlling subcompany sales
Subcompanies that are obtained by the establishment or investment, etc (continued)
Actual investment Other Item balances
that become the net Shareholding Voting
Subcompany Name amount at the end
investment to percentage % percentage %
of period subcompanies
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丽珠医药集团股份有限公司 2013 年半年度报告全文
Actual investment Other Item balances
that become the net Shareholding Voting
Subcompany Name amount at the end
investment to percentage % percentage %
of period subcompanies
Antao Development Limited HKD 0.5 million 119,761,335.92 100% 100%
Livzon (Hongkong) Co., Ltd HKD61 million 19,639,866.43 100% 100%
Zhuhai Modern Chinese Medicine RMB 6 million Yuan
0.00 100% 100%
Hi-tech Co., Ltd
Livzon Pharmaceutical Factory under RMB 423.25 million
0.00 100% 100%
Livzon Group Yuan
Livzon Medicine Marketing Co., Ltd RMB 20 million Yuan
0.00 100% 100%
under Livzon Group
Zhuhai Livzon Medicine Trade Co., Ltd RMB 60 million Yuan 0.00 100% 100%
Shanghai Livzon Pharmaceutical Co., RMB 67.44 million Yuan
0.00 75.99% 100%
Ltd
Livzon Syntpharm Co., Ltd in Zhuhai RMB 128.28 million
0.00 100% 100%
Bonded Area Yuan
Zhuhai Livzon Reagent Co., Ltd RMB 23.69 million Yuan 0.00 51% 51%
Datong Livzon Qiyuan Medicine Co., RMB 3.7 million Yuan
0.00 92.50% 92.50%
Ltd
Longxi Livzon Shenyuan Medicine Co., RMB 3.6 million Yuan
0.00 90% 90%
Ltd
Livzon Medicine Biological Technology 0.00
0.00 100% 100%
Co., Ltd
Zhuhai Livzon Advertising Co., Ltd RMB 1 million Yuan 0.00 100% 100%
Zhuhai Livzon – Bai A Meng Biological RMB 9.84 million Yuan
0.00 82% 82%
Materials Co., Ltd
Zhuhai Livzon Meidaxin Technology RMB 1 million Yuan
0.00 100% 100%
Development Co., Ltd
Livzon Medicine Institute under Livzon RMB 10 million Yuan
0.00 100% 100%
Group
RMB 52.5 million Yuan
Jiaozuo Livzon Syntpharm Co., Ltd 0.00 100% 100%
HKD 19.8685 million
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丽珠医药集团股份有限公司 2013 年半年度报告全文
Actual investment Other Item balances
that become the net Shareholding Voting
Subcompany Name amount at the end
investment to percentage % percentage %
of period subcompanies
Zhuhai Livzon Dankang Biotechnology RMB 102 million Yuan
0.00 51% 51%
Co., Ltd
Livzon Group Vaccine Engineering Co., RMB54.50 million Yuan
0.00 83.85% 83.85%
Ltd
Wenshan Livzon Panax Notoginseng RMB4.694 million Yuan
0.00 51% 51%
Plantation Co., Ltd
Ningxia Xinbeijiang Pharmaceutical Co., RMB 100 Million Yuan
0.00 99.214% 99.214%
Ltd under Livzon Group
Ningxia Fuxing Pharmaceutical Co., Ltd RMB 100 Million Yuan
0.00 100% 100%
under Livzon Group
Livzon (Macau) Co., Ltd 0.00 0.00 100% 100%
Macau Jiaanxin Limited MOP100000 0.00 51% 51%
Subcompanies that are obtained by the establishment or investment, etc (continued)
Whether they
are included in Equities of the Amounts that are used for offsetting
Subcompany name the minority of against the equities of the minority of
consolidated shareholders shareholders
statements?
Antao Development Limited Yes 0.00 0.00
Livzon (Hongkong) Co., Ltd Yes 0.00 0.00
Zhuhai Modern Chinese Medicine Yes
Hi-tech Co., Ltd 0.00 0.00
Livzon Pharmaceutical Factory under Yes
Livzon Group 0.00 0.00
Livzon Medicine Marketing Co., Ltd under
Livzon Group Yes 0.00 0.00
Zhuhai Livzon Medicine Trade Co., Ltd Yes 0.00 0.00
Shanghai Livzon Pharmaceutical Co., Ltd Yes 20,967,668.89 0.00
Livzon Syntpharm Co., Ltd in Zhuhai Yes 0.00 0.00
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丽珠医药集团股份有限公司 2013 年半年度报告全文
Whether they
are included in Equities of the Amounts that are used for offsetting
Subcompany name the minority of against the equities of the minority of
consolidated shareholders shareholders
statements?
Bonded Area
Zhuhai Livzon Reagent Co., Ltd Yes 98,807,440.41 0.00
Datong Livzon Qiyuan Medicine Co., Ltd Yes 142,151.06 0.00
Longxi Livzon Shenyuan Medicine Co.,
Ltd Yes 224,504.85 0.00
Livzon Medicine Biological Technology Yes
Co., Ltd 0.00 0.00
Zhuhai Livzon Advertising Co., Ltd Yes 0.00 0.00
Zhuhai Livzon – Bai A Meng Biological
Materials Co., Ltd Yes 1,111,467.95 0.00
Zhuhai Livzon Meidaxin Technology Yes
Development Co., Ltd 0.00 0.00
Livzon Medicine Institute under Livzon Yes
Group 0.00 0.00
Jiaozuo Livzon Syntpharm Co., Ltd Yes 0.00 0.00
Zhuhai Livzon Dankang Biotechnology Yes 0.00
Co., Ltd 82,859,381.11
Livzon Group Vaccine Engineering Co., Yes 0.00
Ltd 5,258,852.44
Wenshan Livzon Panax Notoginseng 0.00
Plantation Co., Ltd Yes 4,669,213.22
Ningxia Xinbeijiang Pharmaceutical Co., Yes
Ltd under Livzon Group 0.00 0.00
Ningxia Fuxing Pharmaceutical Co., Ltd Yes
under Livzon Group 0.00 0.00
Livzon (Macau) Co., Ltd Yes 0.00 0.00
Macau Jiaanxin Limited Yes 454,585.98 0.00
83
丽珠医药集团股份有限公司 2013 年半年度报告全文
(II) Subcompanies that are obtained by the merger of enterprises which are not under the same control
Subcompany Registered Business Registered
Full name of subcompany Operation scope
type place nature capital
Sichuan Guangda Pharmaceutical Wholly-owned Pengzhou City RMB149 million Research, development, production and
Pharmaceutical
Co., Ltd subcompany Yuan sales of Chinese and western medicines
production
and finished medicines
Xinbeijiang Pharmaceutical Co., Controlling Qingyuan City Pharmaceutical RMB 134.93 million Export and production of its products and
Ltd under Livzon Group subcompany production Yuan relevant technologies
Limin Pharmaceutical Co., Ltd Wholly-owned Shaoguan City RMB 61.56 millio Production and sales of various medical
under Livzon Group subcompany Pharmaceutical n Yuan preparations, medical materials, various
production foodstuff additives, feedstuff additives and
nutrition health-care products
Fuzhou Fuxing Pharmaceutical Wholly-owned Fuzhou City Pharmaceutical USD 41.70 million Production of material medicines such as
Co., Ltd under Livzon Group subcompany production bacteriophage, intermediates,
preparations and chemical materials for
the purpose of medical production (not
including the inflammable and dangerous
chemical products; if required, the license
must be obtained)
Gutian Fuxing Pharmaceutical Co., Wholly-owned Gutian County Pharmaceutical RMB 26.7 million Manufacturing and sales of material
Ltd subcompany production Yuan medicines (Kanamycin sulfate,
Tetracycline Hydrochloride and
Chlortetraccline Hydrochloride)
Subcompanies that are obtained by the merger of enterprises which are not under the same control (continued)
Actual investment Other Item balances
that become the net Shareholding
Subcompany name amount at the end Voting percentage %
investment to percentage %
of period subcompanies
Sichuan Guangda Pharmaceutical RMB 149 million Yuan 100% 100%
Co., Ltd 0.00
Xinbeijiang Pharmaceutical Co., Ltd RMB 124.32 million Yu 92.14% 92.14%
under Livzon Group an 0.00
Limin Pharmaceutical Co., Ltd RMB 207.72 million 100% 100%
under Livzon Group Yuan 0.00
84
丽珠医药集团股份有限公司 2013 年半年度报告全文
Fuzhou Fuxing Pharmaceutical Co., USD 41.7 million 100% 100%
Ltd under Livzon Group 0.00
Gutian Fuxing Pharmaceutical Co., RMB 26.7 million Yuan 100% 100%
Ltd 0.00
Subcompanies that are obtained by the merger of enterprises which are not under the same control (continued)
Whether they
are included Equities of the
Amounts that are used for offsetting against the
Subcompany name in the minority of
equities of the minority of shareholders
consolidated shareholders
statements?
Sichuan Guangda Pharmaceutical
0.00
Co., Ltd Yes 0.00
Xinbeijiang Pharmaceutical Co., Ltd
under Livzon Group Yes 16,968,261.50 0.00
Limin Pharmaceutical Co., Ltd
under Livzon Group Yes 0.00 0.00
Fuzhou Fuxing Pharmaceutical Co.,
Ltd under Livzon Group Yes 0.00 0.00
Gutian Fuxing Pharmaceutical Co.,
Ltd Yes 0.00 0.00
(III) Subcompanies that are obtained by the merger of enterprises which are under the same control: None.
(IV) Subcompanies that are newly included in the consolidated scopes in this period and will not be included in
the consolidated scopes once again: None.
V. Notes to Main Items in the Consolidated Financials Statements
1. Currency Capital
2013/6/30 2012/12/31
Item Original Exchange Book-keeping Original Exchange Book-keeping
Currency rate Currency Currency rate Currency
Cash at stock 104,156.71 134,187.07
Including:
RMB 104,156.71 134,187.07
85
丽珠医药集团股份有限公司 2013 年半年度报告全文
Euro 0.00 8.0536 0.00 0.00 8.3176 0.00
Deposits in 1,204,722,004.8
banks 1,440,792,956.41 7
Including: 1,184,329,952.8
RMB 1,381,918,525.54 2
Hongkong
Dollar 60,242,881.14 0.79655 47,986,466.97 16,507,820.51 0.81085 13,385,366.26
USD 1,395,260.73 6.1787 8,620,897.47 1,033,704.57 6.2855 6,497,350.07
Japanese
Yuan 0.00 0.062607 0.00 2,541,145.00 0.073049 185,628.10
Euro 29,435.87 8.0536 237,064.72 29,435.13 8.3176 244,829.64
MOP 2,638,078.90 0.7695 2,030,001.71 101,073.78 0.7804 78,877.98
Other
Currency
Capital 12,298,160.46 16,476,610.46
Including:
RMB 11,972,816.62 14,081,836.93
Hongkong
Dollar 408,441.20 0.79655 325,343.84 2,953,411.27 0.81085 2,394,773.53
1,221,332,802.4
Total
1,453,195,273.58 0
Please give the separate remarks about the items which have the use restriction, are deposited in overseas banks and
have the return risks due to the mortgage, pledgement or freezing, etc
(1) Other currency capitals at the end of this period mainly include the investment amounts and L/C deposits.
(2) RMB 29,000,000.00 Yuan of deposits in banks that has been mortgaged for the short-term loans and the L/C deposits
of RMB 4,963,077.57 Yuan and deposits for bank acceptance drafts of RMB 6,623,728.10 Yuan in other currency capitals
will be deducted from the cash and cash equivalents of cash flow statement. Besides, in the balances at the end of period,
there are no items which have the use restriction, are deposited in overseas banks and have the return risks due to the
mortgage, pledgement or freezing, etc.
2. Tradable financial assets
86
丽珠医药集团股份有限公司 2013 年半年度报告全文
(1) Tradable financial assets
Item 2013/6/30 2012/12/31
Investments in the tradable equity instruments 11,477,809.46 59,319,616.94
Including: stock 10,960,528.00 58,780,092.81
Fund 517,281.46 539,524.13
(2) Tradable financial assets with the discounting restriction.
In the balances at the end of period, there are no tradable financial assets with the discounting restriction.
(3) Remarks about hedge instruments and relevant hedge trades
In the balances at the end of period, there are no hedge instruments, and no hedge trades happended during this period.
3. Receivable Bills
(1) Classification of receivable bills
Item 2013/6/30 2012/12/31
Bank Acceptance Drafts 157,011,384.13 112,482,782.18
Commercial Acceptance Drafts 87,730.00 0.00
Total 157,099,114.13 112,482,782.18
(2) Remarks about receivable bills that have been mortgaged at the end of period.
At the end of period, the company has no receivable bills that have been mortgaged.
(3) Remarks about the bills that have been transferred to the accounts receivable due to the failure of drawers to perform
their obligations or the bills on which the company has endorsed to other parties but are not due at the end of period.
①Bills that have been transferred to the accounts receivable due to the failure of drawers to perform their obligations：
None
②Bills on which the company has endorsed to other parties by June 30, 2013 but are not due:
Bill Type Due Time Amount
Bank Acceptance Drafts 2013/7/1—2013/12/31 114,946,260.08
Including: top 5 bills that have been endorsed to other parties but are not due are listed as follows:
Drawer unit Drawing date Due date Amount Remarks
Changzhou Niutang Chemical Co., April 3, 2013 October 3, 2013 The
Ltd confirmation
4,000,000.00
has been
completed.
87
丽珠医药集团股份有限公司 2013 年半年度报告全文
Changzhou Guanghui Biotechnology January 29, 2013 July 28, 2013 The
Co., Ltd confirmation
3,000,000.00
has been
completed.
Changzhou Niutang Chemical Co., January 29, 2013 July 28, 2013 The
Ltd confirmation
2,100,000.00
has been
completed.
Youcare Pharmaceutical Group Co., February 6, 2013 August 6, 2013 The
Ltd confirmation
2,000,000.00
has been
completed.
Zhejiang Yatai Pharmaceutical Co., April 2, 2013 October 1, 2013 The
Ltd confirmation
1,500,000.00
has been
completed.
Total 12,600,000.00
③Remarks about commercial acceptance drafts that have been discounted or mortgaged: none
4. Accounts Receivable
(1) Composition of Accounts Receivable
2013/6/30 2012/12/31
Book balance Reserves for Bad Debts Book balance Reserves for Bad Debts
Item
Amount Percenta Amount Percenta Amount Percenta Amount Percentag
ge ge ge e
Accounts receivable whose
individual amount is large and
0.00 0.00% 0.00 0.00% 0.00 0.00% 0.00 0.00%
whose individual bad debt reserve
is withdrawn
Accounts receivable whose bad
debt reserve is withdrawn based on 54,710,788.1 45,330,835.4
the combination 990,383,941.18 99.94% 1 5.52% 819,352,306.31 99.93% 3 5.53%
88
丽珠医药集团股份有限公司 2013 年半年度报告全文
Accounts receivable whose
individual amount is not large but
whose individual bad debt reserve
is withdrawn 566,871.41 0.06% 566,871.41 100.00% 566,871.41 0.07% 566,871.41 100.00%
Total 55,277,659.5 45,897,706.8
990,950,812.59 100.00% 2 5.58% 819,919,177.72 100.00% 4 5.60%
Remarks about classification of accounts receivable
①Accounts receivable whose individual amount is large and whose individual bad debt reserve is withdrawn at the
end of period
□ Applicable √Inapplicable
②In the combination, accounts receivable whose reserves for bad debts are withdrawn by the age analysis method
√Applicable □Inapplicable
2013/6/30 2012/12/31
Age Book balance Reserve for bad Book balance Reserve for bad
Amount Percentage debts Amount Percentage debts
Within 1 year 959,801,676.47 96.91% 47,990,083.83 797,049,806.72 97.28% 39,852,490.35
1-2 years 20,461,746.25 2.07% 1,227,704.78 14,736,404.89 1.80% 884,184.30
2-3 years 5,047,569.39 0.51% 1,009,513.89 3,023,759.20 0.37% 604,751.84
Over 3 years 5,072,949.07 0.51% 4,483,485.61 4,542,335.50 0.55% 3,989,408.94
Total 990,383,941.18 100.00% 54,710,788.11 819,352,306.31 100.00% 45,330,835.43
③In the combination, accounts receivable whose reserves for bad debts are withdrawn by the balance percentage
method
□ Applicable √Inapplicable
④In the combination, accounts receivable whose reserves for bad debts are withdrawn by other methods
□ Applicable √Inapplicable
⑤Accounts receivable whose individual amount is not large but whose individual bad debt reserve is withdrawn
√Applicable □Inapplicable
Name of Book Reserve for Withdrawal Reason for withdrawal
accounts balance bad debts percentage
receivable
Payments for 566,871.41 566,871.41 100.00% They are the payments for goods with the age of
89
丽珠医药集团股份有限公司 2013 年半年度报告全文
goods over 5 years, and the possibility of receiving
them is very small.
(2) Accounts receivable that are reversed or received in this period: none.
(3) Accounts receivable that are actually written off in this period
In this period, the accounts receivable with the non-associated parties that have been actually written off amount to RMB
727,276.00 Yuan, and are listed as follows:
Unit name Nature of Date for Written-off Reason for Is this caused by
accounts writing off amount writing off the associated
receivable transactions?
Nanyang Pukang Group No.
Payments for Cannot be r
Hengyu Pharmaceutical Co., March 2013 714,000.00
goods eceived.
Ltd
(4) In the accounts receivable, debts with the shareholder units holding over 5% (including 5%) voting rights
By June 30, 2013, there are no debts with the shareholder units holding over 5% (including 5%) voting rights.
(5) By June 30, 2013, the top 5 accounts receivable are listed as follows:
Relationship Percentage
Nature or
Debtor Name with this Debt Amount Debt Time in Total
Content
company Amount
Non-associated Payments for Within 1 ye
BIOCON LIMITED party 44,356,803.89 goods ar 4.48%
Hebei Huamin Pharmaceutical Non-associated
Co.,Ltd under North China party Payments for Within 1 ye
Pharmaceutical 32,002,276.20 goods ar 3.23%
North China Pharmaceutical Non-associated Payments for Within 1 ye
co.,Ltd party 15,916,277.34 goods ar 1.61%
Guangdong Meikang Daguang Non-associated Payments for Within 1 ye
Wante Pharmaceutical Co., Ltd party 15,338,588.00 goods ar 1.55%
Youcare Pharmaceutical Group Non-associated Payments for Within 1 ye
Co., Ltd party 14,469,607.06 goods ar 1.46%
Total 122,083,552.49 12.33%
(6) by June 30, 2013, accounts receivable with associated parties are listed as follows:
90
丽珠医药集团股份有限公司 2013 年半年度报告全文
Relationship with this Amount Percentage in
Debtor Name
company Total Amount
Guangdong Blue Treasure Associated company
8,068,533.90 0.82%
Pharmaceutical Co. Ltd.
Zhuhai Joincare Pharmaceutical Group Company controlled by
44,287.98 0.00%
Industry Co., Ltd parent company
Jiaozuo Joincare Pharmaceutical Group Company controlled by
508,604.00 0.05%
Industry Co., Ltd parent company
Total 8,621,425.88 0.87%
(7) Accounts receivable that have been confirmed: none.
(8) Assets and liability amounts that are securitized with the accounts receivable as subjects and continue to exist: none.
5. Prepaid Accounts
(1) Age analysis
Age 2013/6/30 Percentage 2012/12/31 Percentage
Within 1 year 163,963,308.70 78.24% 170,504,919.52 82.30%
1-2 years 26,843,383.22 12.81% 19,092,658.75 9.21%
2-3 years 1,610,066.45 0.77% 16,822,905.65 8.12%
Over 3 years 17,138,689.54 8.18% 760,305.76 0.37%
Total 209,555,447.91 100.00% 207,180,789.68 100.00%
(3) By June 30, 2013, the top 5 prepaid accounts are listed as follows:
Relationship
Debtor Name with this Debt Amount Date time Reason for unsettlement
company
Management Commission of Payments for lands
Non-associat 20,425,185.0 1-2 years: RMB 6,732,904.09 Yuan, and over 3
Sichuan Pengzhou Industrial prepaid in accordance
ed party 0 years: RMB 13,692,280.91 Yuan
Development Zone with the contracts
Payments for materials
Siemens Healthcare Diagnostics Non-associat 15,073,912.2
Within 1 year prepaid in accordance
Products (Shanghai) Co., Ltd ed party 6
with the contracts
91
丽珠医药集团股份有限公司 2013 年半年度报告全文
Payments for equipment
Shandong Taikai Power Engineering Non-associat
9,600,000.00 Within 1 year prepaid in accordance
Co.,Ltd ed party
with the contracts
Payments for equipment
Non-associat Within 1 year: RMB 5,935,069.24 Yuan, and 1-2
Rieckermann GmbH 8,875,067.20 prepaid in accordance
ed party years: RMB 2,939,997.96 Yuan
with the contracts
Payments for materials
Non-associat
Qinhuangdao Lihua Starch Co., Ltd 8,482,600.00 Within 1 year prepaid in accordance
ed party
with the contracts
62,456,764.4
Total 6
(4) Debts with the shareholder units holding over 5% (including 5%) voting rights in this period
By June 30, 2013, there are no debts with the shareholder units holding over 5% (including 5%) voting rights.
6. Other Accounts receivable
(1) Classification of other accounts receivable
2013/6/30 2012/12/31
Book balance Reserve for bad debts Book balance Reserve for bad debts
Item
Amount Percenta Amount Percenta Amount Percenta Amount Percent
ge ge ge age
Other accounts receivable whose
individual amount is large and
whose individual bad debt reserve
is withdrawn 0.00 0.00% 0.00 0.00% 0.00 0.00% 0.00 0.00%
Other accounts receivable whose
bad debt reserve is withdrawn
based on the combination 52,465,687.99 98.05% 4,964,533.97 9.46% 58,140,626.54 98.26% 5,100,369.41 8.77%
Other accounts receivable whose
individual amount is not large but
whose individual bad debt reserve 100.00
is withdrawn 1,041,860.56 1.95% 1,041,860.56 100.00% 1,026,860.56 1.74% 1,026,860.56 %
92
丽珠医药集团股份有限公司 2013 年半年度报告全文
Total 53,507,548.55 100.00% 6,006,394.53 11.23% 59,167,487.10 100.00% 6,127,229.97 10.36%
Remarks about classification of other accounts receivable
①Other accounts receivable whose individual amount is large and whose individual bad debt reserve is withdrawn at
the end of period
□ Applicable √Inapplicable
②In the combination, other accounts receivable whose reserves for bad debts are withdrawn by age analysis method
√Applicable □Inapplicable
2013/6/30 2012/12/31
Age Book balance Reserve for bad Book balance Reserve for bad
Amount Percentage debts Amount Percentage debts
Within 1 year 40,263,360.25 76.74% 2,013,168.02 46,904,509.66 80.67% 2,345,225.48
1-2 years 3,402,861.69 6.49% 204,171.71 2,641,311.23 4.54% 158,478.67
2-3 years 7,317,009.59 13.95% 1,463,401.92 7,352,432.93 12.65% 1,470,486.59
Over 3 years 1,482,456.46 2.82% 1,283,792.32 1,242,372.72 2.14% 1,126,178.67
Total 52,465,687.99 100.00% 4,964,533.97 58,140,626.54 100.00% 5,100,369.41
③In the combination, other accounts receivable whose reserves for bad debts are withdrawn by balance percentage
method
□ Applicable √Inapplicable
④In the combination, other accounts receivable whose reserves for bad debts are withdrawn by other methods
□ Applicable √Inapplicable
⑤Other accounts receivable whose individual amount is not large but whose individual bad debt reserve is withdrawn
√Applicable □Inapplicable
Name of other Book balance Reserve for Withdrawal Reason for withdrawal
accounts bad debts percentage
receivable
Fund transfer They are the fund transfers with the age of over 5
1,041,860.56 1,041,860.56 100.00% years, and the possibility of receiving them is very
small.
(2) Other accounts receivable that are reversed or received in this period: none.
(3) Other accounts receivable that are actually written off in this period: none.
(4) Debts with the shareholder units holding over 5% (including 5%) voting rights
93
丽珠医药集团股份有限公司 2013 年半年度报告全文
By June 30, 2013, there are no debts with the shareholder units holding over 5% (including 5%) voting rights.
In this period, the accounts receivable with the non-associated parties that have been actually written off amount to
RMB 727,276.00 Yuan, and are listed as follows:
(5) By June 30, 2013, top 5 other accounts receivable with associated parties are listed as follows:
Relationship Percentage
Nature
Debtor Name with the Debt Amount Debt Time in Total
or Content
company Amount
Guangzhou Yinheyangguang
Non-associat
Pharmaceutical Group Industry 5,000,000.00 Loan 9.34%
ed party
Co., Ltd 2-3 years
Non-associat Export tax
Payable Export tax rebate fund 2,020,667.88 3.78%
ed party rebate fund Within 1 year
Within 1 year :RMB 400,000.00
Beijing Mange Pharmaceutical Non-associat Loans for Yuan; 1-2 years: RMB 40,000.00
2,000,000.00 3.74%
Technology Co.,Ltd ed party projects Yuan; 2-3 years: RMB
1,560,000.00 Yuan
Advance
Guangdong Zhengpeng Biological Non-associat
1,497,100.00 payments for 2.80%
Energy Technology Co., LTD ed party
equipment Within 1 year
Water,
Guangdong Blue Treasure Non-associat electricity and
1,353,138.58 2.53%
Pharmaceutical Co. Ltd. ed party power
expenses Within 1 year
11,870,906.4
22.19%
Total 6
(6) By June 30, 2013, other accounts receivable with associated parties are listed as follows:
Relationship with the Percentage in
Debtor Name Debt Amount
company Total Amount
Zhuhai Joincare Pharmaceutical Group Company controlled by 26,386.99 0.05%
Industry Co., Ltd parent company
Health Pharmaceutical (China) Co., Ltd Company controlled by 8,329.00 0.02%
parent company
94
丽珠医药集团股份有限公司 2013 年半年度报告全文
Jiaozuo Joincare Pharmaceutical Group Company controlled by 139,991.92 0.26%
Industry Co., Ltd parent company
Guangdong Blue Treasure Associated company
1,353,138.58 2.53%
Pharmaceutical Co. Ltd.
Total 1,527,846.49 2.86%
(7) Other accounts receivable that have been confirmed: none.
(8) Assets and liability amounts that are securitized with the other accounts receivable as subjects and continue to exist:
none.
7. Inventory
(1) Inventory classification
2013/6/30 2012/12/31
Item Book balance Depreciation Book value Book balance Depreciation Book value
Reserve Reserve
Raw materials 186,844,679.63 1,184,383.41 185,660,296.22 208,936,291.88 1,296,162.85 207,640,129.03
Packages 24,863,074.55 58,035.51 24,805,039.04 14,252,721.41 78,275.32 14,174,446.09
Products 101,504,594.20 5,649.00 101,498,945.20 106,904,120.64 391,869.11 106,512,251.53
Inventory
199,216,581.70 8,071,518.03 191,145,063.67
commodities 172,366,395.81 8,684,390.52 163,682,005.29
Entrusted
materials for 163,329.75 163,329.75
processing 0.00 0.00 0.00 0.00
Low-value
944,561.21 944,561.21
consumables 0.00 562,067.18 0.00 562,067.18
Delivered
24,247,540.76 24,247,540.76
commodities 0.00 0.00 0.00 0.00
Consumable
36,500,920.04 36,500,920.04
biological assets 0.00 29,144,084.11 0.00 29,144,084.11
95
丽珠医药集团股份有限公司 2013 年半年度报告全文
Self-made
semi-finished 28,521,786.32 35,987.39 28,485,798.93
products 27,855,418.10 3,072,401.80 24,783,016.30
Total 602,807,068.16 9,355,573.34 593,451,494.82 560,021,099.13 13,523,099.60 546,497,999.53
(2) Depreciation reserve for inventory
Decrease in this period
Withdrawal in Reversion in Writing-off in
Inventory type 2012/12/31 this period this period this period 2013/6/30
Raw materials 1,296,162.85 1,070,951.52 0.00 1,182,730.96 1,184,383.41
Packages 78,275.32 46,245.69 0.00 66,485.50 58,035.51
Products 391,869.11 109,646.21 0.00 495,866.32 5,649.00
Inventory
4,670,109.59 0.00 5,282,982.08 8,071,518.03
commodities 8,684,390.52
Self-made
semi-finished 141,663.89 0.00 3,178,078.30 35,987.39
products 3,072,401.80
Total 13,523,099.60 6,038,616.90 0.00 10,206,143.16 9,355,573.34
(3) Depreciation reserve for inventory
The depreciation reserve for inventory will be withdrawn based on the difference between the inventory book values and
their net realizable values on June 30, 2013. The net realizable values mean the values after deduction of the costs, sales
expenses and relevant taxes from the evaluated selling prices of inventories in the daily activities at the time of
completion.
8. Saleable Financial Assets
(1) Classification
Item 2013/6/30 2012/12/31
Saleable equity instruments 9,827,655.38 10,612,859.66
Including: stocks 9,827,655.38 10,612,859.66
(2) Long-term creditors right investment in saleable financial assets: none.
96
丽珠医药集团股份有限公司 2013 年半年度报告全文
9. Investments in the associated enterprises
Percentage
of voting
Share-holding rights of
Name of Invested Enterprise Registered Legal Business Registered percentage of this
type place representative nature capital this enterprise
Units
enterprise(%) in the
invested
units(%)
Guangdong Blue Qingyuan An Ning Production USD 7.53
Treasure City and sales million
35.91% 35.91%
Pharmaceutical Co. of material
Limited liability
Ltd.
(joint venture) medicines
Livzon Medical It has been RMB 3.62
Zhuhai City Xu Xiaoxian
Limited closed.
Electronic Equipment million Yuan 28% 28%
(Factory) Co., Ltd liability
Tongyikangshimei Huang Qianli Commodity
RMB 100
Chain (Shenzhen) Co., Limited 35% 35%
Shenzhen
sales
million Yuan
Ltd liability
Total
Continued:
Name of Invested Units Total assets at Total liabilities at Total net assets Total operating Net profits in this
the end of period the end of period at the end of income in this year year
period
Guangdong Blue Treasure
Pharmaceutical Co. Ltd. 104,577,369.60 10,844,334.36 93,733,035.24 37,435,284.48 4,936,183.76
Livzon Medical Electronic Equipment
(Factory) Co., Ltd —— —— —— —— ——
Tongyikangshimei Chain (Shenzhen)
Co., Ltd 14,266,014.96 1,225,844.79 13,040,170.17 6,803,971.60 -512,112.24
Total 118,843,384.56 12,070,179.15 106,773,205.41 44,239,256.08 4,424,071.52
Remarks about the huge difference between the key accounting policies and accounting evaluation of joint venture and
97
丽珠医药集团股份有限公司 2013 年半年度报告全文
associated enterprises and those of company: none.
10. Long-term Equity Investment
(1) Breakdown of long-term equity investments
Remarks
about the
difference
between Withdra
Share-hold Percentag
the wal of
ing e of voting
Calculati share-holdi deprecia Cash
Name of Invested Increase or percentage rights in Depreciation
on Investment cost 2012/12/31 2013/6/30 ng tion bonus in
Units decrease in this the reserve
method percentage reserve this period
invested invested
and voting in this
unit (%) units(%)
rights period
percentage
in invested
units
Guangdong
cost
Development Bank 177,348.84 177,348.84 0.00 177,348.84 0.0004% 0.0004% 0.00 0.00 0.00
method
Co.Ltd
Beijing Medical Goods
cost
Joint Operation 100,000.00 100,000.00 0.00 100,000.00 0.821% 0.821% 100,000.00 0.00 0.00
method
Company
Doumen Sanzhou cost
500,000.00 500,000.00 0.00 500,000.00 1.6% 1.6% 500,000.00 0.00 0.00
Industry City Co., Ltd method
China Resources
cost
Bank of Zhuhai Co., 95,325,760.00 95,325,760.00 0.00 95,325,760.00 1.5065% 1.5065% 20,000,000.00 0.00 0.00
method
Ltd
Ruiheng
Pharmaceutical cost
6,250,000.00 6,250,000.00 0.00 6,250,000.00 5.681% 5.681% 0.00 0.00 343,750.00
Technology method
Investment Co., Ltd
Shanghai Haixin
cost
Pharmaceutical Co., 500,000.00 500,000.00 0.00 500,000.00 4.55% 4.55% 0.00 0.00 0.00
method
Ltd
98
丽珠医药集团股份有限公司 2013 年半年度报告全文
Livzon Medical
Equity
Electronic Equipment 1,200,000.00 1,200,000.00 0.00 1,200,000.00 28% 28% 1,200,000.00 0.00 0.00
method
(Factory) Co., Ltd
Guangdong Blue
Treasure Equity
11,227,540.45 33,964,795.70 1,888,090.28 35,852,885.98 35.91% 35.91% 0.00 0.00 0.00
Pharmaceutical Co. method
Ltd.
Tongyikangshimei
Equity
Chain (Shenzhen) 35,000,000.00 4,743,298.84 -179,239.29 4,564,059.55 35% 35% 0.00 0.00 0.00
method
Co., Ltd
Total 150,280,649.29 142,761,203.38 1,708,850.99 144,470,054.37 21,800,000.00 0.00 343,750.00
(2) Depreciation reserve for long-term equity investment
Withdrawal Reason for
Transfer-out
Investment Projects 2012/12/31 in this 2013/6/30 Withdrawal
in this period
period
The net
Doumen Sanzhou Industry City Co., assets are
500,000.00 500,000.00
Ltd less than
0.00 0.00 zero.
China Resources Bank of Zhuhai 20,000,000.0
20,000,000.00 Loss
Co., Ltd 0.00 0.00 0
The net
Livzon Medical Electronic assets are
Equipment (Factory) Co., Ltd less than
1,200,000.00 0.00 0.00 1,200,000.00 zero.
The business
license has
been
Beijing Medical Goods Joint
cancelled by
Operation Company
the local
administration
100,000.00 0.00 0.00 100,000.00 of industry
99
丽珠医药集团股份有限公司 2013 年半年度报告全文
and
commerce
21,800,000.0
Total
21,800,000.00 0.00 0.00 0
(3) Remarks about restriction in transferring the capitals to invested enterprises: none.
11. Fixed Assets and Accumulated Depreciation
(1) Particulars
Item Increase in this Decrease in this
2012/12/31 2013/6/30
period period
I. Original values of fixed
assets: 2,445,480,605.42 71,744,666.08 2,262,636.58 2,514,962,634.92
Houses and buildings 1,104,342,763.27 16,707,344.55 0.00 1,121,050,107.82
Machine equipments 1,120,344,797.53 36,742,928.58 908,842.30 1,156,178,883.81
Transportation equipments 41,495,690.07 8,581,282.22 1,241,661.72 48,835,310.57
Electronic equipments and
others 179,297,354.55 9,713,110.73 112,132.56 188,898,332.72
II. Accumulated depreciation: 1,228,112,140.52 70,064,684.65 1,982,332.92 1,296,194,492.25
Houses and buildings 446,752,891.97 22,561,310.59 0.00 469,314,202.56
Machine equipments 632,910,202.19 37,646,646.24 807,859.79 669,748,988.64
Transportation equipments 18,932,318.66 3,117,655.37 1,070,045.85 20,979,928.18
Electronic equipments and
others 129,516,727.70 6,739,072.45 104,427.28 136,151,372.87
III. Net value of fixed assets: 1,217,368,464.90 1,218,768,142.67
Houses and buildings 657,589,871.30 0.00 0.00 651,735,905.26
Machine equipments 487,434,595.34 0.00 0.00 486,429,895.17
Transportation equipments 22,563,371.41 0.00 0.00 27,855,382.39
Electronic equipments and
others 49,780,626.85 0.00 0.00 52,746,959.85
100
丽珠医药集团股份有限公司 2013 年半年度报告全文
IV. Depreciation reserve 90,082,979.53 0.00 8,226.59 90,074,752.94
Houses and buildings 47,154,210.14 0.00 0.00 47,154,210.14
Machine equipments 41,828,416.48 0.00 8,226.59 41,820,189.89
Transportation equipments 95,560.44 0.00 0.00 95,560.44
Electronic equipments and
others 1,004,792.47 0.00 0.00 1,004,792.47
V. Book value of fixed assets 1,127,285,485.37 1,128,693,389.73
Houses and buildings 610,435,661.16 0.00 0.00 604,581,695.12
Machine equipments 445,606,178.86 0.00 0.00 444,609,705.28
Transportation equipments 22,467,810.97 0.00 0.00 27,759,821.95
Electronic equipments and
others 48,775,834.38 0.00 0.00 51,742,167.38
The depreciation amount in this amount is RMB 70,064,684.65 Yuan, and the original value of the projects under
construction in this period that have been transferred to the fixed assets amount to RMB 46,100,369.39 Yuan.
(2) The fixed assets that are temporarily unused are listed as follows:
Original Book Accumulated Depreciation Estimated Time to put
Item Book value
Values Depreciation Reserve it into use
Houses and
buildings 12,846,847.45 3,364,677.99 9,482,169.46 2013
Machine
equipments 16,552,556.09 8,827,654.84 7,724,901.25 2013
Office
equipments and
others 2,725,518.04 2,452,908.17 272,609.87 2013
Total 32,124,921.58 14,645,241.00 17,479,680.58
(3) Fixed assets that the company has leased in the mode of financing lease: none.
(4) The fixed assets that have been rented out are listed as follows:
Item Original Book Values Accumulated Depreciation Book value
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丽珠医药集团股份有限公司 2013 年半年度报告全文
Depreciation Reserve
Houses and
buildings 4,745,771.65 2,941,769.35 26,479.77 1,777,522.53
(5) Fixed assets that the company has hold for sales: none.
(6) Particulars about fixed assets whose property certificates have not been handled:
Item Depreciat Reason Estimated date for
Original Book Accumulated
ion Book value handling the property
Values Depreciation
Reserve certificate
The handling of 2013
Houses and 342,724,249.1 52,471,016.6 290,253,232.5 certificates is still
buildings 8 1 0.00 7 under way.
(7) By June 30, 2013, the company has neither mortgaged nor guaranteed any fixed assets.
12. Projects under Construction
(1) Projects under Construction
2013/6/30 2012/12/31
Project Depreciat Depreciati
Original Book Original Book
name ion Book value on Book value
Values Values
Reserve Reserve
Newly built
plants 741,290,746.02 0.00 741,290,746.02 563,825,749.23 0.00 563,825,749.23
Equipment
installation 698,560,469.45 0.00 698,560,469.45 377,069,920.09 0.00 377,069,920.09
Technical
improvem
ent 8,586,078.45 0.00 8,586,078.45 1,181,953.85 0.00 1,181,953.85
Plant
improvem
ent 48,749,512.11 0.00 48,749,512.11 11,765,670.48 0.00 11,765,670.48
Others 84,292,298.40 0.00 84,292,298.40 74,925,756.83 0.00 74,925,756.83
Total 1,581,479,104.4 0.00 1,581,479,104.4 1,028,769,050.48 0.00 1,028,769,050.4
102
丽珠医药集团股份有限公司 2013 年半年度报告全文
3 3 8
(2) Particulars
Percenta Capitaliza
Including:
ge of Accumulate tion ratio
Fixed Assets capitalized
Project Increase in this Other Project Project d capitalized of Capital
Budget Amount 2012/12/31 Transferred amount of 2013/6/30
name period Decrease Investme progress amount of interests Source
in this Period interests in
nt to interests in this
this period
Budget period
Newly Loans
built and
plants Part of projects available
1,315,857,122. 20,442,544. 28,805,007. 19,626,284.
563,825,749.23 197,931,004.77 23,463.12 57.89% have been 3.90% capitals 741,290,746.02
87 86 12 20
completed. owned by
the
company
Equipme Available
nt Part of projects capitals
1,001,251,370. 23,471,943.
installatio 377,069,920.09 345,082,119.49 119,626.65 72.12% have been 0.00 0.00 0.00 owned by 698,560,469.45
24 48
n completed. the
company
Technical Available
improvem Part of projects capitals
1,151,216.6
ent 10,474,501.28 1,181,953.85 8,555,341.21 0.00 92.96% have been 0.00 0.00 0.00 owned by 8,586,078.45
1
completed. the
company
Plant Available
improvem Part of projects capitals
ent 94,770,682.62 11,765,670.48 37,935,843.66 858,244.44 93,757.59 52.44% have been 0.00 0.00 0.00 owned by 48,749,512.11
completed. the
company
Others Available
86,889,830.00 74,925,756.83 9,542,961.57 176,420.00 0.00 97.21% 0.00 0.00 0.00 capitals 84,292,298.40
owned by
103
丽珠医药集团股份有限公司 2013 年半年度报告全文
the
company
Total 2,509,243,507. 1,028,769,050. 46,100,369. 28,805,007. 19,626,284. 1,581,479,104.
599,047,270.70 236,847.36
01 48 39 12 20 43
(3) Depreciation Reserve for projects under construction: none.
(4) By June 30, 2013, the capitalization amounts of interests for the projects under construction are listed as follows:
Fixed Assets
Increase in this Other
Project name 2012/12/31 Transferred in this 2012/12/31
period Decrease
Period
Newly built
plants 12,597,332.22 19,626,284.20 3,418,609.30 0.00 28,805,007.12
13. Project Goods
Goods name 2013/6/30 2012/12/31
Special equipments 1,472,007.62 1,623,576.06
14. Intangible Assets and Accumulated Amortization
(1) Intangible Assets
Increase in this Decrease in this
2012/12/31 2013/6/30
Item period period
I. Total of Original Book
Values： 356,544,893.72 30,976,667.55 0.00 387,521,561.27
Use rights of lands 194,290,361.20 27,575,156.00 0.00 221,865,517.20
Special techniques 139,043,340.02 2,588,355.14 0.00 141,631,695.16
Software 23,187,192.50 813,156.41 0.00 24,000,348.91
Trademark rights 24,000.00 0.00 0.00 24,000.00
II. Total of Accumulated
amortization 149,053,373.23 9,503,685.18 0.00 158,557,058.41
Use rights of lands 50,122,110.56 2,082,567.91 0.00 52,204,678.47
Special techniques 87,564,956.43 5,683,163.52 0.00 93,248,119.95
104
丽珠医药集团股份有限公司 2013 年半年度报告全文
Software 11,342,306.24 1,737,953.75 0.00 13,080,259.99
Trademark rights 24,000.00 0.00 0.00 24,000.00
III. Total of net book values
of intangible assets 207,491,520.49 228,964,502.86
Use rights of lands 0.00
144,168,250.64 0.00 169,660,838.73
Special techniques 0.00
51,478,383.59 0.00 48,383,575.21
Software 11,844,886.26 0.00 0.00 10,920,088.92
Trademark rights 0.00 0.00 0.00 0.00
IV. Total of Depreciation 0.00
Reserve 2,361,826.83 0.00 2,361,826.83
Use rights of lands 981,826.94 0.00 0.00 981,826.94
Special techniques 1,379,999.89 0.00 0.00 1,379,999.89
Software 0.00 0.00 0.00 0.00
Trademark rights 0.00 0.00 0.00 0.00
III. Total of book values of
intangible assets 205,129,693.66 226,602,676.03
Use rights of lands 143,186,423.70 0.00 0.00 168,679,011.79
Special techniques 50,098,383.70 0.00 0.00 47,003,575.32
Software 11,844,886.26 0.00 0.00 10,920,088.92
Trademark rights 0.00 0.00 0.00 0.00
The amortization amount is RMB 9,503,685.18 Yuan.
(2) Remarks about intangible assts
The reasons for increase of special techniques mainly include: ① Livzon Pharmaceutical Group Inc. has paid the
royalty for special technique Pramipexole dihydrochloride at the amount of RMB 1.3 million Yuan; ②Xinbeijiang
Pharmaceutical Co., Ltd under Livzon Group has paid the royalty for special technique Enramycin at the amount of RMB
0.5 million Yuan.
②Particulars about intangible assets whose property certificates have not been handled:
105
丽珠医药集团股份有限公司 2013 年半年度报告全文
Item Original Book Accumulated Depreciation Book value Reason
Values Depreciation Reserve
The handling of
Use right of 27,354,034.42 3,950,114.60 0.00 23,403,919.82 certificates is still
lands under way.
15. Development payment
Decrease in this period
Accrued to the Confirmed as
Item
Increase in this current profit and intangible assets
2012/12/31 period loss 2013/6/30
Capitalization
1,510,153.5
payment 1 0.00 708,932.21 588,355.14 212,866.16
Expense payment 0.00 61,034,322.14 61,034,322.14 0.00 0.00
1,510,153.5
Total
1 61,034,322.14 61,743,254.35 588,355.14 212,866.16
The percentage of intangible assets caused by the internal development of company in this period in the original book
value of intangible assets at the end of period is 0.15%.
16 Goodwill
Decrease Depreciation
Increase in
Name of Invested Units 2012/12/31 in this 2013/6/30 Reserve at the
this period
period end of period
Livzon Pharmaceutical Factory under
47,912,269.66 0.00 0.00 47,912,269.66 0.00
Livzon Group
Sichuan Guangda Pharmaceutical
13,863,330.24 0.00 0.00 13,863,330.24 0.00
Co., Ltd
Fuzhou Fuxing Pharmaceutical Co.,
46,926,155.25 0.00 0.00 46,926,155.25 11,200,000.00
Ltd under Livzon Group
106
丽珠医药集团股份有限公司 2013 年半年度报告全文
Decrease Depreciation
Increase in
Name of Invested Units 2012/12/31 in this 2013/6/30 Reserve at the
this period
period end of period
Xinbeijiang Pharmaceutical Co., Ltd
7,271,307.03 0.00 0.00 7,271,307.03 7,271,307.03
under Livzon Group
Zhuhai Livzon Meidaxin Technology
287,756.12 0.00 0.00 287,756.12 287,756.12
Development Co., Ltd
Shanghai Livzon Pharmaceutical
2,045,990.12 0.00 0.00 2,045,990.12 0.00
Co., Ltd
Livzon Syntpharm Co., Ltd in Zhuhai
3,492,752.58 0.00 0.00 3,492,752.58 0.00
Bonded Area
Total 121,799,561.0 121,799,561.0
0.00 0.00 18,759,063.15
0 0
List of goodwill depreciations:
Increase in this Decrease in
Name of Invested Units 2012/12/31 2013/6/30
period this period
Fuzhou Fuxing Pharmaceutical Co., Ltd
under Livzon Group 11,200,000.00 0.00 0.00 11,200,000.00
Xinbeijiang Pharmaceutical Co., Ltd
under Livzon Group 7,271,307.03 0.00 0.00 7,271,307.03
Zhuhai Livzon Meidaxin Technology
Development Co., Ltd 287,756.12 0.00 0.00 287,756.12
Total 18,759,063.15 0.00 0.00 18,759,063.15
Testing method of goodwill depreciation and withdrawal method of depreciation reserve
The goodwill of company is formed by the merger of enterprises which are not under same control in previous years.
On the prepration date of balance sheet, the company has made the depreciation testing of goodwill. When forecasting
the receivable amount from cost investment, the company employs the asset combination related to goodwill to forecast
the current value of cash flow in the future. That is, if the invested units may continuously operate, forecast to be able to
continusouly produce the cash flow, and select 12% as the discounting ratio (in 2012:12%) for discounting and after the
discounting, the company will determine the depreciation. After the testing, the management of company forecasts that,
during the report period, there is no need to withdraw the depreciation reserve for goodwills.
107
丽珠医药集团股份有限公司 2013 年半年度报告全文
17 Long-term Amortization Expense
Project Name 2012/12/31 Increase in Amortization Other 2013/6/30 Reasons for
this period in this Period decrease other
decrease
Overhaul expense of fixed
assets 4,164,390.66 540,222.50 876,381.92 0.00 3,828,231.24
Decoration expense of
offices 1,273,675.26 0.00 458,802.36 0.00 814,872.90
Decoration expense of
plants 3,166,448.10 0.00 1,033,228.03 0.00 2,133,220.07
Publicly amortized
expense of public utilities 140,794.48 0.00 45,814.17 0.00 94,980.31
Resin 5,927,566.73 2,499,221.18 1,641,509.96 0.00 6,785,277.95
Others 3,112,995.22 3,286,957.85 1,615,322.18 0.00 4,784,630.89
Total 17,785,870.45 6,326,401.53 5,671,058.62 0.00 18,441,213.36
18 Deferred Income Tax Asset and Deferred Income Tax Liability
(1) Deferred Income Tax Asset and Deferred Income Tax Liability that have been confirmed
Type 2013/6/30 2012/12/31
Deferred Income Tax Asset:
The deductible temporary difference caused by
withdrawal of the asset depreciation reserve 24,812,763.63 24,567,976.14
The deductible temporary difference caused by the
long-term equity investment out of the scope of
consolidation statement 3,727,400.71 3,763,451.17
The deductible temporary difference caused by the
amortization of intangible assets 23,380.65 60,230.11
The deductible temporary difference caused by the
withdrawal expense 7,309,838.00 6,621,016.91
The deductible temporary difference caused by the
deductible loss 6,911,745.74 7,517,170.15
108
丽珠医药集团股份有限公司 2013 年半年度报告全文
The deductible temporary difference caused by the
deferred gains 802,507.50 630,007.50
Subtotal 43,587,636.23 43,159,851.98
Deferred Income Tax Liability:
Temporary difference of payable taxes caused by the
tradable financial assets 55,092.22 58,428.62
Temporary difference of payable taxes caused by the
saleable financial assets 1,100,643.70 1,218,424.33
Temporary difference of payable taxes caused by the
calculation of long-term equity investment with the equity
method 1,519,913.40 1,299,636.20
Subtotal 2,675,649.32 2,576,489.15
(2) Particulars about deferred income tax assets that have not been confirmed.
Item 2013/6/30 2012/12/31
Deductible temporary difference 774,600.65 857,870.66
Deductible loss 90,863,200.65 70,315,652.28
Total 91,637,801.30 71,173,522.94
(3) The deductible loss of deferred income tax asset that has not been confirmed will become due in next year
Year 2013/6/30 2012/12/31 Remarks
2013 135,077.23 135,077.23
2014 342,796.94 342,796.94
2015 8,908,557.85 8,908,557.85
2016 28,334,063.89 28,695,690.62
2017 24,419,288.26 25,765,634.88
2018 20,886,618.14 0.00
Endless 7,836,798.34 6,467,894.76
Total 90,863,200.65 70,315,652.28
(3) Particulars about taxable differences and deductible difference items
Items 2013/6/30 2012/12/31
109
丽珠医药集团股份有限公司 2013 年半年度报告全文
Taxable items:
Temporary difference of payable taxes caused by the
367,281.46 389,524.13
tradable financial assets
Temporary difference of payable taxes caused by the
7,337,624.52 8,122,828.80
saleable financial assets
Temporary difference of payable taxes caused by the
calculation of long-term equity investment with the 10,132,756.00 8,664,241.34
equity method
Subtotal 17,837,661.98 17,176,594.27
Deductible difference items:
The deductible temporary difference caused by
158,896,849.39 158,335,468.93
withdrawal of the asset depreciation reserve
The deductible temporary difference caused by the
long-term equity investment out of the scope of 24,849,338.07 25,089,674.47
consolidation statement
The deductible temporary difference caused by the
155,871.00 401,534.07
amortization of intangible assets
The deductible temporary difference caused by the
48,732,253.35 44,140,112.76
withdrawal expense
The deductible temporary difference caused by the
46,078,304.93 50,114,467.67
deductible loss
The deductible temporary difference caused by the
5,350,050.00 4,200,050.00
deferred gains
Subtotal 284,062,666.74 282,281,307.90
19 Asset Depreciation Reserve
Increase in this Decrease in this period
Item 2012/12/31 2013/6/30
period Reversion Writing-off
Reserve for bad debts 52,024,936.81 9,991,960.93 0.00 732,843.69 61,284,054.05
Depreciation Reserve
for inventory 13,523,099.60 6,038,616.90 0.00 10,206,143.16 9,355,573.34
110
丽珠医药集团股份有限公司 2013 年半年度报告全文
Depreciation reserve for
long-term equity
investment 21,800,000.00 0.00 0.00 0.00 21,800,000.00
Depreciation Reserve
for fixed assets 90,082,979.53 0.00 0.00 8,226.59 90,074,752.94
Depreciation Reserve
for intangible assets 2,361,826.83 0.00 0.00 0.00 2,361,826.83
Depreciation Reserve
for goodwill 18,759,063.15 0.00 0.00 0.00 18,759,063.15
Total 198,551,905.92 16,030,577.83 0.00 10,947,213.44 203,635,270.31
The writing-off of the reserves for bad debts means the writing-off of the bad debts; the writing-off of depreciation reserve
for inventory and the depreciation reserve of fixed assets means the rejection, disposal transfer or writing-off.
(I) Assets whose ownership rights are restricted
Increase in this Decrease in this
Item 2012/12/31 2013/6/30
period period
Assets used for
pledgement:
L/C deposits 2,020,501.88 5,400,570.92 2,457,995.23 4,963,077.57
Deposits for bank
acceptance drafts 11,676,000.00 9,996,654.30 15,048,926.20 6,623,728.10
Deposits in banks 29,000,000.00 0.00 0.00 29,000,000.00
Total 42,696,501.88 15,397,225.22 17,506,921.43 40,586,805.67
The reasons for the restriction of asset ownership rights are listed as follows:
The company pledged the certificate of time deposit of RMB 29,000,000.00 Yuan to Zhuhai Branch of Everbright Bank for
a loan of HKD 35,000,000.00, and the pledgement period is from December 24, 2012 to December 23, 2013.
(II) Short-time Loan
(1) Classification of short-term loans
Item 2013/6/30 2012/12/31
Credit loan 452,878,772.07 495,627,002.91
111
丽珠医药集团股份有限公司 2013 年半年度报告全文
Guaranty loan 11,951,400.00 12,162,750.00
Pledgement loan 27,886,600.00 28,379,750.00
Total 492,716,772.07 536,169,502.91
Remarks about classification of short-time loans
①Guaranty loan: The Company provides the guaranty to Livzon Pharmaceutical Factory under Livzon Group for a
loan of HKD 15,000,000.00 from China Resources Bank of Zhuhai.
②Please see the article 20 of V in the notes to the financial statement for more details about the mortgage.
(2) Short-time loans that have become due but not been repaid.
By June 30, 2013, the company has no short-time loans that have become due but not been repaid
(III) Bills payable
Item 2013/6/30 2012/12/31
Bank acceptance
341,162,691.47 283,581,118.89
bills
The amount that will become due in next accounting period is RMB 341,162,691.47 Yuan.
Remarks about bills payable
By June 30, 2013, there are no debts with the shareholder units holding over 5% (including 5%) voting rights.
(IV) Accounts payable
(1) Particulars about Accounts payable
Age 2013/6/30 2012/12/31
Within 1 year 383,117,699.58 287,579,679.99
Over 1 year 18,195,157.61 24,234,380.42
Total 401,312,857.19 311,814,060.41
(2) Accounts payable to the shareholder units holding over 5% (including 5%) voting rights in this period.
By June 30,2013, there are no accounts payable to the shareholder units holding over 5% (including 5%) voting rights.
(3) Remarks about huge accounts payable with the age of over 1 year
Unit name Debt amount Nature or content Reason
Zibo Dongfang Yineng Medical Payment for Goods
3,080,800.00 Temporarily unpaid
Chemical Co., Ltd
112
丽珠医药集团股份有限公司 2013 年半年度报告全文
Zhuhai Xingye Green Architectural Payment for Project
1,449,004.46 Temporarily unpaid
Technology Co., Ltd
IMA Life the Netherlands BV Payment for equipm
1,324,406.35 Temporarily unpaid
ent
Total 5,854,210.81
(4) By June 30, 2013, top 5 accounts payable are listed as follows:
Percentage
Nature or
Unit name Debt amount Debt period in Total
content
Amount
Shanghai Techwell Biopharmaceutical Co., Payments for
Ltd 56,093,350.64 materials Within 1 year 13.98%
Jiaozuo Joincare Pharmaceutical Group Payments for
Industry Co., Ltd 31,020,330.28 materials Within 1 year 7.73%
PKU International Healthcare Group Payments for
15,241,256.78 Within 1 year 3.80%
Chongqing Daxin Pharmaceutical Co., Ltd materials
Siemens Healthcare Diagnostics Products Payments for
(Shanghai) Co., Ltd 9,936,697.15 materials Within 1 year 2.48%
Payments for
Japan Fuji FUJIREBIOINC 7,933,419.68 Within 1 year 1.98%
projects
Total 120,225,054.53 29.97%
(5) Please see the note VI for the details about the accounts payable to associated parties.
(V) Advance accounts
(1) Age analysis
Item 2013/6/30 2012/12/31
Within 1 year 38,534,927.13 25,949,403.61
Over 1 year 8,814,059.41 12,000,636.81
Total 47,348,986.54 37,950,040.42
(2) Advance accounts with the shareholder units holding over 5% (including 5%) voting rights in this period.
By June 30,2013, there are no advance accounts with the shareholder units holding over 5% (including 5%) voting rights.
(3) Remarks about huge advance accounts with the age of over 1 year
113
丽珠医药集团股份有限公司 2013 年半年度报告全文
Unit name Debt amount Reason for unsettlement
Yunnan Center for Disease Control The buyer did not request for the
3,482,703.68
and Prevention delivery.
Yunnan Maternity and Child Health The buyer did not request for the
881,739.00
Hospital delivery.
Heilongjiang Center for Disease The buyer did not request for the
604,332.00
Control and Prevention delivery.
Jiangxi Center for Disease Control The buyer did not request for the
537,623.67
and Prevention delivery.
Total 5,506,398.35
(4) By June 30, 2013, top 5 advance accounts are listed as follows:
Percentage
Nature or
Unit name Debt amount Debt period in Total
content
Amount
Within 1 year: RMB
Yunnan Center for Disease Control Payments 5,620,686.00 Yuan; 1-2
9,103,389.68 19.23%
and Prevention for goods years: RMB 3,482,703.68
Yuan
Wenshan Meiluo Junyuan Panax
Payments
notoginseng Plantation Base Co., 8,700,000.00 18.37%
for goods
Ltd Within 1 year
Payments
Chongqing Health Bureau 1,568,565.70 Within 1 year 3.31%
for goods
Fujiang Center for Disease Control Payments
1,431,948.40 3.02%
and Prevention for goods Within 1 year
Payments
Huang Mingjiang 1,300,000.00 Within 1 year 2.75%
for goods
Total 22,103,903.78 46.68%
(VI) Rewards paid to the staffs
114
丽珠医药集团股份有限公司 2013 年半年度报告全文
Item 2012/12/31 Increase in this Payment amount 2013/6/30
period in this period
Salary, bonus and
69,965,631.18 148,464,607.25 162,504,856.19 55,925,382.24
allowance
Welfare expense for staffs 379,589.40 7,113,102.71 7,024,165.87 468,526.24
Social insurance fees 168,924.05 21,719,115.77 21,708,869.36 179,170.46
Including: medical
51,274.61 6,316,015.94 6,312,335.70 54,954.85
insurance fees
Endowment Insurance 89,416.18 12,940,051.50 12,944,775.50 84,692.18
Unemployment insurance
20,251.70 1,388,232.75 1,386,144.99 22,339.46
fees
Occupational Injury
2,573.70 594,589.84 589,519.32 7,644.22
Insurance
Childbirth insurance 5,407.86 480,225.74 476,093.85 9,539.75
Reserves for houses 628,774.82 6,391,769.85 6,388,504.31 632,040.36
Trade union expense and
230,382.52 378,650.15 479,931.62 129,101.05
staff education expense
Compensation for the
cancellation of work 0.00 678,427.00 678,427.00 0.00
relationship
Equity stimulation bonus of
2,748,184.90 0.00 1,928,904.71 819,280.19
subcompanies
Others 341,025.15 28,264.74 28,264.74 341,025.15
Total 74,462,512.02 184,773,937.47 200,741,923.80 58,494,525.69
In the rewards paid to the staffs, the debt amount is RMB 0.00 Yuan.
The trade union expense and staff education expense amount to RMB 129,101.05 Yuan, the non-currency welfare
amount is RMB 0.00 Yuan, and the compensation amount for the cancellation of work relationship is RMB 678,427.00
Yuan.
(VII) Payable Taxes
Item 2013/6/30 2012/12/31
115
丽珠医药集团股份有限公司 2013 年半年度报告全文
Value-added tax 5,516,928.09 27,045,774.62
Operating tax 8,519.86 4,406.31
City construction tax 2,456,950.42 5,807,640.79
Enterprise income tax 41,268,329.64 54,609,738.48
Real estate tax 1,332,941.70 1,205,108.90
Utilization tax of lands 1,040,862.93 367,516.29
Personal income tax 1,770,915.28 2,020,320.48
Stamp tax 728,254.12 924,464.10
Education surtax 2,817,719.86 4,215,701.89
Embankment protection 216,730.87 349,356.19
cost
Others 82,318.65 108,282.31
Total 57,240,471.42 96,658,310.36
Remarks about payable taxes: if the local taxation departments agree that the taxable incomes between all
sub-companies and sub-factories may be mutually adjusted, please explain the calculation process of taxes: none.
(VIII) Interests payable
Item 2013/6/30 2012/12/31
Interests for short-term 14,386,146.08 8,146,146.10
financing bonds
Interests for medium-time 1,763,945.21 0.00
bills
Interests payable for 4,629,997.23 2,307,858.76
short-time loans
Total 20,780,088.52 10,454,004.86
(IX) Payable dividends
Investor name 2013/6/30 2012/12/31 Cause for Debts
Dividends for common
shares 147,881,100.46 20,174.46 Not paid
116
丽珠医药集团股份有限公司 2013 年半年度报告全文
Qingyuan Xinbeijiang
Enterprise (Group)
Company 1,200,710.00 1,200,710.00 Not paid
Other legal person shares
and personal shares in the
subcompanies 1,051,300.00 1,051,300.00 Not paid
Internal staff share of
subcompanies 259,800.00 259,800.00 Not paid
Total 150,392,910.46 2,531,984.46
Remarks about payable dividends
In the 2012 annual Shareholders’ Meeting held on June 21, 2013, the company examined
and passed the 2012 Profit Distribution Plan: Taking the total quantity of 295,721,852
shares as the base, the company will distribute the bonus of RMB 5.00 Yuan (including the
tax) to all shareholders for every 10 shares. The Company distributed a total bonus of RMB
147,860,926.00 Yuan.
(X) Other accounts payable
(1) Particulars about other accounts payable
Item 2013/6/30 2012/12/31
Within 1 year 651,852,355.60 596,204,141.64
Over 1 year 52,775,506.35 25,960,061.48
Total 704,627,861.95 622,164,203.12
(2) Other accounts payable to the shareholder units holding over 5% (including 5%) voting rights in this period.
By June 30,2013, there are no other accounts payable to the shareholder units holding over 5% (including 5%) voting
rights.
(3) In the balance at end of period, the withdrawal expanse amounts to RMB 433,949,363.56 Yuan, accounting for 61.59%
of the balance at the end of period, and are listed as follows:
Item 2013/6/30 2012/12/31 Reason for settlement at
end of period
Water and electricity Not paid.
expense 4,293,993.40 2,985,641.37
117
丽珠医药集团股份有限公司 2013 年半年度报告全文
Item 2013/6/30 2012/12/31 Reason for settlement at
end of period
Research expense 3,883,749.53 4,655,388.79 Not paid.
Business promotion Not paid.
expense 384,838,639.96 348,654,690.71
Leasing expense 0.00 14,530.00 Not paid.
Advertisement Not paid.
expense 122,254.00 230,588.19
Meeting expense 18,232,311.81 18,561,351.49 Not paid.
Auditing and Not paid.
information disclosure
expenses 952,123.04 1,290,812.30
Operating expense of Not paid.
branches 7,289,339.18 9,050,113.71
Drainage expense 79,209.00 97,809.00 Not paid.
Others 14,257,743.64 7,756,691.84 Not paid.
Total 433,949,363.56 393,297,617.40
(4) Please see the note VI for more details about the other accounts payable to associated parties.
(XI) Non-current Liabilities Due within 1 Year
(1) Particulars about Non-current Liabilities Due within 1 Year
Item 2013/6/30 2012/12/31
Long-term loan due within 1
year 400,000.00 400,000.00
(2) Long-term loan due within 1 year
Long-term loan due within 1 year
Item 2013/6/30 2012/12/31 Interests rate Loan period
Credit loan 400,000.00 400,000.00 Interests-Free Not specified
In the long-term loan due within 1 year, the overdue amount that has been extended is RMB 0.00 Yuan.
The overdue amount in the long-term loan due within 1 year: none.
118
丽珠医药集团股份有限公司 2013 年半年度报告全文
(XII) Other Current Liabilities
Type 2013/6/30 2012/12/31
Short-term
400,000,000.00 400,000,000.00
financing bonds
Remarks about other current liabilities
On July 6, 2012, the first installment of short-term financing bonds for 2012 was issued to the institution investors of
national inter-bank bond market (except the purchasers who are prohibited in accordance with the national laws and
regulations), and the issuing amount was RMB 400,000,000.00 Yuan, and was paid on July 9, 2013.
(XIII) Long-term Loans
(1) Types of Long-term Loans
Type 2013/6/30 2012/12/31
Credit loans 700,000.00 700,000.00
Mortgage and
150,000,000.00 0.00
guaranty loans
Total 150,700,000.00 700,000.00
Remarks about classification of long-term loans
By June 30, 2013, there are no due long-term loans which have not been repaid.
(2) Top 5 long-term loans are listed as follows:
2013/6/30 2012/12/31
Beginning date Ending date of Interests
Loan unit Currency Amount in Amount in Amount in Amount in
of loans loans rate(%)
foreign book-keeping foreign book-keeping
currency currency currency currency
Shaoguan Wujiang
150,000,000.0
Branch of Agricultural 2013/1/18 2016/1/31 RMB 6.15% 0.00
0
Bank of China
Fuzhou Finance Interests-Fr
Not specified Not specified RMB 700,000.00 700,000.00
Bureau ee
Total 150,700,000.0
700,000.00
0
119
丽珠医药集团股份有限公司 2013 年半年度报告全文
Remarks about long-term loans. If the overdue loans are extended to the long-term loans, please specify the conditions
for extension, principals, interests and estimiated repayment arrangement, etc: none.
(XIV)Bonds payable
Accrued Paid interests
Interests Interests
Name of Term of interests from from January
Book value Issuing date Issuing amount payable on payable on 2013/6/30
bonds bonds January to to June in
2012/12/31 2013/6/30
June in 2013 2013
13 Livzon 400,000,000.0
400,000,000.00 May 29, 2013 3 years 400,000,000.00 0.00 1,763,945.21 0.00 1,763,945.21
MTN1 0
On December 14, 2012, the 2012 second temporary shareholders’ meeting examined and approved the Proposal of the
Company on Applying for the Issuing of the Medium-Tem Financing Notes and agreed that, the company would apply to
the National Association of Financial Market Institutional Investors for the medium-term financing Notes with the total
registered amount of no more than RMB 800 million Yuan (RMB 800 million Yuan). On May 29, 2013, the company issued
the 2013 first installment of medium-term notes of Livzon Pharmaceutical Group Inc. with the amount of RMB 400 million
Yuan and book interests rate of 5.03%.
(XV) Other non-current liabilities
Item 2013/6/30 2012/12/31
Deferred Gains 67,243,914.08 74,172,485.90
Remarks about other non-current liabilities, including all kinds of the governmental allowances that are obtained during
this report period and are related to the assets and gains as well as their balances at end of period
Total
Allowance Increase in Writing-off in
Item Amount 2012/12/31 this period this period 2013/6/30
Development and industrialization of Ilaprazole series
of Innovation medicines 49,900,000.00 22,985,038.06 100,000.00 1,474,064.92 21,610,973.14
Guangdong Province Introduced the Innovation
Research Team (2012) protein medicine study and 30,000,000.00 20,617,624.28 0.00 718,833.95 19,898,790.33
industrialization team
I-type Humanized Anti-Human TNF monoclonal
antibody for the purpose of treatment 11,000,000.00 1,270,621.84 600,000.00 847,698.36 1,022,923.48
120
丽珠医药集团股份有限公司 2013 年半年度报告全文
Total
Allowance Increase in Writing-off in
Item Amount 2012/12/31 this period this period 2013/6/30
Demonstration project of solar energy photoelectric
structure application 7,010,000.00 6,893,166.66 0.00 350,500.02 6,542,666.64
Allowance PVC soft packages of technical reform and
bid-invitation project supported by the provincial
finance 4,100,000.00 3,109,851.80 0.00 97,182.90 3,012,668.90
Famciclovir Sustained Release Capsules 0302 project 4,100,000.00 2,994,863.03 0.00 2,994,863.03 0.00
Demonstration project of managing the
high-concentration organic wastewater 4,000,000.00 1,577,579.00 0.00 197,202.00 1,380,377.00
Shenqifuzheng injection 3,535,000.00 2,220,592.10 0.00 61,619.48 2,158,972.62
Financial allowance for Shenqi quality control
technologies 3,500,000.00 3,316,666.66 0.00 1,254,166.66 2,062,500.00
Shanxi Hunyuan Qiyuan GAP Industrialization
Production Base Construction 2,500,000.00 2,000,000.00 0.00 0.00 2,000,000.00
Leuprorelin Acetate Microspheres and injection
preparation 2,300,000.00 120,000.00 0.00 120,000.00 0.00
Sterilization and kidney-quieting capsule 2,040,000.00 793,188.53 0.00 0.00 793,188.53
Three-pollen for injection 1,800,000.00 44,976.51 0.00 44,976.51 0.00
First batch of scientific research & development
expense granted by District Scientific Industrial
& Trade Department in 2010 1,250,000.00 1,000,000.00 0.00 0.00 1,000,000.00
Allowance for quality control of Traditional Chinese
Medicine injections 1,000,000.00 1,000,000.00 0.00 583,333.33 416,666.67
Yue Cai Gong No. 319 Provincial Hi-tech Industry
Development Zone Development Guide Special Fund 1,000,000.00 850,000.00 0.00 0.00 850,000.00
Special fund for Zhuhai City strategic new industry in
2012 – industry research of Tigecycline for body
injection 800,000.00 45,731.88 0.00 45,731.88 0.00
Expense for the production, study and research 500,000.00 400,000.00 0.00 0.00 400,000.00
121
丽珠医药集团股份有限公司 2013 年半年度报告全文
Total
Allowance Increase in Writing-off in
Item Amount 2012/12/31 this period this period 2013/6/30
guideline projects granted by the provincial
department in 2011
Special fund for Zhuhai City strategic new industry in
2012 500,000.00 500,000.00 0.00 0.00 500,000.00
Modern Chinese medicine hi-tech innovation
industrialization base construction 500,000.00 300,004.00 0.00 49,998.00 250,006.00
Electricity-saving of lighting water pump fan and
air-conditioner system 350,000.00 210,004.00 0.00 34,998.00 175,006.00
Research, development and production transfer of
Jimishaxing pellets 300,000.00 212,527.55 0.00 0.00 212,527.55
Project expense for Zhuhai municipal-level enterprise
technical center 300,000.00 300,000.00 0.00 0.00 300,000.00
Supporting Fund for National and Provincial Scientific
and Technical Plan in 2012 250,000.00 250,000.00 0.00 0.00 250,000.00
Project expense for three types of rapid testing
technology of important harmful substance
tripolycyanamide in food 200,000.00 188,600.00 0.00 0.00 188,600.00
Key technical study about intelligent monitoring
management system for bottled injection plant 150,000.00 150,000.00 0.00 35,625.00 114,375.00
Project expense for accurate and rapid testing
technology and equipment of important harmful
substance in food 150,000.00 141,450.00 0.00 0.00 141,450.00
Development of Carbohydrate and Electrolyte
Injection 110,000.00 110,000.00 0.00 17,777.78 92,222.22
Research about high-throughput testing technology of
harmful substances in Aquatic Products in Guangdong
Province 80,000.00 80,000.00 0.00 0.00 80,000.00
Development of Ranitidine Bismuth Citrate Tablets
preparations 50,000.00 0.00 50,000.00 0.00 50,000.00
122
丽珠医药集团股份有限公司 2013 年半年度报告全文
Total
Allowance Increase in Writing-off in
Item Amount 2012/12/31 this period this period 2013/6/30
Special expense for nation regulation research of
Chinese cut crude drugs technology 170,000.00 0.00 170,000.00 70,000.00 100,000.00
In-vitro diagnostic technology product for biological
and pharmaceutical technical field in 863 plan 150,000.00 0.00 150,000.00 0.00 150,000.00
Second batch of scientific research & development
expense granted by District Scientific Industrial
& Trade Department in 2012 1,000,000.00 0.00 1,000,000.00 0.00 1,000,000.00
Others 731,500.00 490,000.00 0.00 0.00 490,000.00
Total 135,326,500.00 74,172,485.90 2,070,000.00 8,998,571.82 67,243,914.08
(XVI) Share capitals
Increase or Decrease (+ or －)
Shares
Beginning Issuing Ending
transferred
quantity quantity of Bonus shares Others Subtotal quantity
from public
new shares
reserve fund
Total shares 295,721,852 0.00 0.00 0.00 0.00 0.00 295,721,852
Remarks about share capital changes. If the capitals are increased or decreased during the report period, please specify
the name of accountants firm performing the capital identification and No. of capital identification report; for the stock
corporation operating for less than 3 years, please specify the net assets for the years before the establishment; if the
limited liability company is changed to the stock corporation, please specify the capital identification details at the
establishment time of company.
Increase or Decrease (+ or －) Unit: share
Shares
Item 2012/12/31 Share-rati Gift share Others Subtotal 2013/6/30
transferred
oning amount
from public
Amount reserve fund
I. Shares with trading
restriction
123
丽珠医药集团股份有限公司 2013 年半年度报告全文
Increase or Decrease (+ or －) Unit: share
Shares
Item 2012/12/31 Share-rati Gift share Others Subtotal 2013/6/30
transferred
oning amount
from public
Amount reserve fund
① Sponsor’s shares 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Including:
State-owned shares 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Shares held by domestic legal 0.00 0.00 0.00 0.00 0.00 0.00 0.00
persons
Shares held by foreign legal 0.00 0.00 0.00 0.00 0.00 0.00 0.00
persons
Others 0.00 0.00 0.00 0.00 0.00 0.00 0.00
②Raising legal person shares 0.00 0.00 0.00 0.00 0.00 0.00 0.00
③ Internal staff shares 0.00 0.00 0.00 0.00 0.00 0.00 0.00
④ Preference shares or 0.00 0.00 0.00 0.00 0.00 0.00 0.00
others
⑤Circulation share with 0.00 0.00 0.00 0.00 0.00
trading restriction 6,059,428 6,059,428
Total of non-circulation shares 6,059,428 0.00 0.00 0.00 0.00 0.00 6,059,428
II.Shares without trading
restriction
①Domestically-listed 0.00 0.00 0.00 0.00 0.00
Renminbi ordinary shares 177,669,070 177,669,070
Including: Management 0.00 0.00 0.00 0.00 0.00
shares 0.00 0.00
②Domestically-listed shares 0.00 0.00 0.00 0.00 0.00
for overseas investors 111,993,354 111,993,354
Total of circulation shares 289,662,424 0.00 0.00 0.00 0.00 0.00 289,662,424
III. Total shares 295,721,852 0.00 0.00 0.00 0.00 0.00 295,721,852
124
丽珠医药集团股份有限公司 2013 年半年度报告全文
(XVII) Capital Reserve
Increase in this Decrease in this
Type 2012/12/31 2013/6/30
period period
Share
Premium 219,110,205.68 0.00 0.00 219,110,205.68
Other Capital
Reserve 0.00 0.00 667,423.65 -667,423.65
Total 219,110,205.68 0.00 667,423.65 218,442,782.03
Remarks about capital reserve
The cause of decrease in this period is the change of fair vales of saleable financial assets.
(XVIII) Surplus Reserve
Increase in this Decrease in this
Type 2012/12/31 2013/6/30
period period
Legal Surplus
Reserve 322,730,716.50 0.00 0.00 322,730,716.50
Discretionary
surplus
reserves 63,796,201.34 0.00 0.00 63,796,201.34
Reserve Fund 82,108,376.71 0.00 0.00 82,108,376.71
Enterprise
Development
Fund 21,683,742.35 0.00 0.00 21,683,742.35
Total 490,319,036.90 0.00 0.00 490,319,036.90
Remarks about surplus reserve: if the surplus reserve is used for increasing the share capitals, making up for the loss and
distributing the dividends, please specify relevant resolutions: none.
(XIX) Undistributed Profit
Item 2013/6/30 2012/12/31
Undistributed profit at the beginning
of period 2,023,348,842.58 1,740,645,868.60
125
丽珠医药集团股份有限公司 2013 年半年度报告全文
Plus: profit transfer in the current
period 259,310,414.64 441,671,519.69
Other transfers 0.00 0.00
Minus：Withdrawal of Legal Surplus
Reserve 0.00 11,107,619.71
Withdrawal of staff awards or
welfare funds 0.00 0.00
Withdrawal of reserve fund 0.00 0.00
Withdrawal of enterprise
development fund 0.00 0.00
Profits capitalized on return of
investment 0.00 0.00
Minus: Payable dividends for
preference shares 0.00 0.00
Withdrawal of discretionary surplus
reserves 0.00 0.00
Payable dividends for ordinary
shares 147,860,926.00 147,860,926.00
Dividends for ordinary shares that
are transferred to capitals 0.00 0.00
Undistributed profit at the end of
period 2,134,798,331.22 2,023,348,842.58
Particulars about the adjustment of undistributed profits at the beginning of year:
(1) Due to the retrospective adjustment in accordance with the Enterprise Accounting Standards and relevant new
regulations, the effect on the undistributed profits is RMB 0.00 Yuan.
(2) Due to the changes of accounting policies, the effect on the undistributed profits at the beginning of year is RMB
0.00 Yuan.
(3) Due to the correction of key accounting errors, the effect on the undistributed profits at the beginning of year is
RMB 0.00 Yuan.
(4) Due to the changes of consolidation scopes caused by same control, the effect on the undistributed profits at the
beginning of year is RMB 0.00 Yuan.
126
丽珠医药集团股份有限公司 2013 年半年度报告全文
(5) Due to the other adjustments, the total effect on the undistributed profits at the beginning of year is RMB 0.00
Yuan.
Remarks about undistributed profits: for the company that publicly issues the securities for the first time, if the
shareholders’ meetings resolve that the accumulated profits before the issuing will be jointly shared by all new and old
shareholders, please give more details; if the shareholders’ meetings resolve that the accumulated profits before the
issuing will be distributed and shared by all old shareholders, the company shall clearly specify the audited profit quantity
of old shareholders in the dividends payable.
(XX) Equities of the minority of shareholders
2012/12/31 Increase or decrease from January to June 2013 2013/6/30
Shareholding
Equities of the percentage of the Profit and loss of Equities of the
minority of Net profits of minority of the minority of Other change minority of
Company name shareholders subcompanies shareholders shareholders s shareholders
Zhuhai Livzon Reagent Co., Ltd 84,226,365.07 29,767,790.21 49.00% 14,586,217.20 -5,141.86 98,807,440.41
Macau Jiaanxin Limited 205,609.03 508,116.22 49.00% 248,976.95 0.00 454,585.98
Xinbeijiang Pharmaceutical Co., Ltd
under Livzon Group 15,965,254.96 12,760,897.51 7.86% 1,003,006.54 0.00 16,968,261.50
Datong Livzon Qiyuan Medicine
Co., Ltd 160,210.17 -240,788.07 7.50% -18,059.11 0.00 142,151.06
Longxi Livzon Shenyuan Medicine
Co., Ltd 264,547.59 -400,427.41 10.00% -40,042.74 0.00 224,504.85
Zhuhai Livzon – Bai A Meng
Biological Materials Co., Ltd 1,111,467.95 0.00 18.00% 0.00 0.00 1,111,467.95
Zhuhai Livzon Dankang
Biotechnology Co., Ltd 39,027,957.67 -10,548,115.43 49.00% -5,168,576.56 49,000,000.00 82,859,381.11
Livzon Group Vaccine Engineering
Co., Ltd 6,394,687.69 -7,033,035.61 16.15% -1,135,835.25 0.00 5,258,852.44
Shanghai Livzon Pharmaceutical
Co., Ltd 20,967,668.89 6,109,099.72 24.01% 0.00 0.00 20,967,668.89
Wenshan Livzon Panax 3,779,670.99 1,815,392.31 49.00% 889,542.23 0.00 4,669,213.22
127
丽珠医药集团股份有限公司 2013 年半年度报告全文
2012/12/31 Increase or decrease from January to June 2013 2013/6/30
Shareholding
Equities of the percentage of the Profit and loss of Equities of the
minority of Net profits of minority of the minority of Other change minority of
Company name shareholders subcompanies shareholders shareholders s shareholders
Notoginseng Plantation Co., Ltd
231,463,527.4
Total 172,103,440.01 32,738,929.45 10,365,229.26 48,994,858.14 1
Remarks about the equities of minority of shareholders
The increase of other changes are about the capitals invested by the minority of shareholders
(XXI) Operating Income and Cost
(1) Operating Income and Cost
Item January to June 2013 January to June 2012
Main Business income 2,153,268,671.13 1,875,055,548.88
Other Business income 8,993,151.27 9,941,626.56
Total operating income 2,162,261,822.40 1,884,997,175.44
Main Business cost 800,165,299.71 740,101,590.20
Other Business cost 8,673,835.79 8,650,846.08
Total operating cost 808,839,135.50 748,752,436.28
(2)Main business (as per the product))
January to June 2013 January to June 2012
Item Main Business Main Business Main Business Main Business
income cost income cost
I. Preparations
1. Western medicine preparation
788,054,616.86 206,564,256.22 191,227,339.39
664,970,880.45
Including: Digestive tract
177,085,277.79 21,331,635.26 19,922,183.76
148,506,494.70
128
丽珠医药集团股份有限公司 2013 年半年度报告全文
Cardiac and cerebral blood vessel
72,477,673.31 17,181,393.35
72,112,143.33 16,872,094.93
Antimicrobial drugs(including the
133,415,458.61 38,257,257.31 47,025,617.99
imported drugs) 143,641,033.48
Gonadotropic hormone
270,853,274.68 93,290,769.53
219,119,425.83 78,003,650.95
Others
134,222,932.47 36,503,200.77 29,403,791.76
81,591,783.11
2. Chinese traditional drug preparation
791,562,122.89 161,538,367.54 138,137,695.39
654,809,638.39
Subtotal of preparations:
1,579,616,739.75 368,102,623.76
1,319,780,518.84 329,365,034.78
II. Raw material drugs
397,815,396.77 349,888,612.78 341,271,934.47
402,904,511.57
III. Diagnostic reagents and equipments
175,836,534.61 82,174,063.17 69,464,620.95
152,370,518.47
Total
2,153,268,671.13 800,165,299.71
1,875,055,548.88 740,101,590.20
(3) Main business (as per the regions)
January to June 2013 January to June 2012
Item Main Business Main Business Main Business Main Business
income cost income cost
Domestic
1,994,155,417.81 1,688,892,213.94
675,376,831.05 604,859,850.24
Overseas 159,113,253.32 124,788,468.66 186,163,334.94 135,241,739.96
Total 2,153,268,671.13 800,165,299.71 1,875,055,548.88 740,101,590.20
(4) Particulars about operating incomes from top 5 clients
January to June 2013 January to June 2012
Client name Percentage in the t Percentage in the to
Sales amount Sales amount
otal sales amount tal sales amount
129
丽珠医药集团股份有限公司 2013 年半年度报告全文
Total of top 5 clients 180,634,763.82 8.35% 163,182,152.06 8.66%
(XXII) Business Tax and Surtax
Item January to June 2013 January to June 2012 Payment standard
City construction tax 14,776,878.51 14,078,788.16
Education surtax 11,355,712.40 8,864,444.08
Embankment protection cost 927,700.53 1,230,758.77
Business Tax 41,666.43 20,900.57
Others 117,312.21 81,144.92
Total 27,219,270.08 24,276,036.50
Remarks about Business Tax and Surtax
See the note III for the details about payment standards of all operating taxes and surtax.
(XXIII) Sales expense
Item January to June 2013 January to June 2012
Sales expense 825,119,808.36 674,023,464.01
(XXIV) Management expense
Item January to June 2013 January to June 2012
Management expense 189,171,222.87 157,636,704.20
(XXV) Financial expense
Item January to June 2013 January to June 2012
Interest payment 4,046,904.86 13,292,714.08
Minus: Interest income 12,448,188.23 26,014,646.03
Profit and loss in the exchange -3,663,026.19 -83,894.56
Formality expense charged by banks 1,267,520.48 1,746,455.22
Total -10,796,789.08 -11,059,371.29
130
丽珠医药集团股份有限公司 2013 年半年度报告全文
(XXVI) Loss of asset depreciation
Item January to June 2013 January to June 2012
Reserves for Bad Accounts 9,991,960.93 9,032,263.63
Depreciation Reserve for inventory 6,038,616.90 4,099,399.46
Depreciation Reserve for fixed assets 0.00 13,983.23
Total 16,030,577.83 13,145,646.32
(XXVII) Gains from changes of fair values
Sources of profits caused by the January to June 2013 January to June 2012
changes of fair values
Tradable financial assets -1,242,332.26 2,114,503.89
Including: shares -1,220,089.59 2,090,588.37
Fund -22,242.67 23,915.52
(XXVIII) Investment returns
(1) Particulars about investment returns
Item January to June 2013 January to June 2012
Long-term equity investment calculated by cost method 343,750.00 0.00
Long-term equity investment calculated by equity method 1,708,850.99 141,933.89
Investment returns obtained by the disposal of long-term
equity investments 0.00 0.00
Investment returns obtained by the holding of tradable
financial assets 184,588.99 880,017.00
Investment returns obtained during the returns period of
investments held to the maturity date 0.00 0.00
Investment returns obtained by the holding of saleable
financial assets 0.00 151,818.90
Investment returns obtained by the disposal of tradable
financial assets 849,784.78 557,698.78
131
丽珠医药集团股份有限公司 2013 年半年度报告全文
Investment returns obtained from the investments held to
the maturity date 0.00 0.00
Investment returns obtained from the saleable financial
assets 0.00 0.00
Others 0.00 0.00
Total 3,086,974.76 1,731,468.57
(2) Long-term equity investment returns calculated by cost method
Invested unit January to June January to June Reason for the changes
2013 2012 compared with previous
period
Ruiheng Pharmaceutical Technology
Investment Co., Ltd 343,750.00 0.00 Bonus from invested unit
(3) Long-term equity investment returns calculated by equity method
Invested unit January to June January to June Reason for the changes
2013 2012 compared with previous
period
Guangdong Blue Treasure Returns changes of
Pharmaceutical Co. Ltd. 1,888,090.28 1,179,331.97 invested unit
Tongyikangshimei Chain (Shenzhen) Returns changes of
Co., Ltd -179,239.29 -1,037,398.08 invested unit
Total 1,708,850.99 141,933.89
Remarks about investment returns: if the remittance of investment returns has the key restrictions, please specify it. If
there are no such key restrictions, please also specify it: none.
(XXIX) Non-operating Income
(1) Particulars about Non-operating Income
Item January to June January to June Amount accrued to the current
2013 2012 non-recurring profit and loss
Total profit of non-current asset 329,936.16 90,772.51 329,936.16
132
丽珠医药集团股份有限公司 2013 年半年度报告全文
disposal
Including: Profit of fixed asset
disposal 329,936.16 90,772.51 329,936.16
Penalty income 37,672.50 19,650.00 37,672.50
Waste income 143,243.13 129,382.45 143,243.13
Governmental allowance 12,883,755.38 11,882,340.48 12,883,755.38
Compensation income 812,555.00 0.00 812,555.00
Payments that will not be paid 602,512.31 0.00 602,512.31
Others 229,120.91 437,948.35 229,120.91
Total 15,038,795.39 12,560,093.79 15,038,795.39
(2) Particulars about governmental allowances
Type January to January to Source unit Approval document
June 2013 June 2012
Guangdong Province Introduced the Innovation
Zhuhai Science, Industry, Trade Yue Cai Jiao[2012] No.
Research Team (2012) protein medicine study and 718,833.95 0.00
and Information Department 319
industrialization team
Three researches of new medicines of I-type Zhuhai Science, Industry, Trade Yue Ke Gui Hua Zi
Humanized Anti-Human TNF monoclonal antibody for and Information [2011] No. 167/Zhu Ke
847,698.36 6,088,077.82
the purpose of treatment in Guangdong Strategic new Department/Zhuhai Finance Gong Mao Xin Ji [2012]
industry core technology breakthrough (2011) Bureau No. 19
Yue Fa Gai Gao[2008]
No.1282
Development and industrialization of Ilaprazole series of Fa Gai Ban Gao Ji[2008]
1,474,064.92 1,374,064.92 Zhuhai Finance Bureau
Innovation medicines No. 2223
Yue Cai Gong[2010] No.
445
Famciclovir Sustained Release Capsules 0302 project 2,994,863.03 0.00 Zhuhai Finance Bureau ——
Industrialization project of Leuprorelin Acetate Shanghai Science & Technology
0.00 400,000.00 ——
Microspheres for Injection Commission
Allowance for Fuzhou Industrial Energy-saing and Rong Cai Qi (Zhi) [2013]
600,000.00 0.00 Fuqing Finance Bureau
Circulating Economy Projects in 2012 No. 3
Allowance for quality control of Traditional Chinese 583,333.33 0.00 Shaoguan Finance Bureau ——
133
丽珠医药集团股份有限公司 2013 年半年度报告全文
Type January to January to Source unit Approval document
June 2013 June 2012
Medicine injections
Supporting funds for enterprises 73,142.00 0.00 Fuqing Finance Bureau ——
Rong Cai Qi (Zhi) [2013]
Allowances for technical research and development 300,000.00 0.00 Fuqing Finance Bureau
No. 20
Shanghai Science & Technology
Little Giant Cultivation Enterprise 200,000.00 1,100,000.00 Hu Ke[2010] No. 407
Commission
Absorption purified inactivated Japanese encephalitis
Zhuhai Science, Industry, Trade Zhu Ke Gong Mao Xin
virus vaccine – Zhuhai Hi-tech field technology 0.00 1,000,000.00
and Information Department Ji[2011] No. 16
breakthrough and hi-tech industry
Guangdong Provincial Public Service Platform
0.00 1,017,010.50 Zhuhai Finance Bureau Cai Qi [2011] No. 88
Construction for foreign trade
Yue Cai Jiao [2011] No.
Guangdong Provincial Patent Prize 0.00 100,000.00 Zhuhai Finance Bureau
522
Granting expense for hi-tech enterprise from Fuzhou
0.00 100,000.00 Fuzhou Finance Bureau ——
Finance Bureau
Allowance granted by Shanghai Science & Technology Shanghai Science & Technology
120,000.00 0.00 ——
Commission Commission
Special expense for nation regulation research of
70,000.00 0.00 Zhuhai Finance Bureau ——
Chinese cut crude drugs technology
Zhuhai House and Urban
Zhu Gui Jian Zhi [2013]
Special fund for renewable energy in 2012 300,000.00 0.00 Planning & Construction Bureau
No.4
/Zhuhai Finance Bureau
Fund for importing allowance in the second half of 2012 235,210.00 0.00 Zhuhai Finance Bureau ——
Research about the quality standard improvement of Pengzhou Industry and Scientific
200,000.00 0.00 ——
antivirus granules & Technical Information Bureau
Ningxia Pingluo Industry Bureau Ping Dang Fa [2013]
Award fund for enterprises 500,000.00 0.00
and Commerce Bureau No.24
Special fund for Zhuhai City strategic new industry in
45,731.88 0.00 Zhuhai Finance Bureau ——
2012 – industry research of Tigecycline for body injection
Three-pollen for injection 44,976.51 0.00 Zhuhai Finance Bureau ——
Refunding of rewards to guaranty enterprise for
419,347.31 0.00 Zhuhai Finance Bureau ——
employing the disabled
Demonstration project of managing the 197,202.00 197,202.00 Zhuhai Environmental Protection ——
134
丽珠医药集团股份有限公司 2013 年半年度报告全文
Type January to January to Source unit Approval document
June 2013 June 2012
high-concentration organic wastewater Bureau
Zhuhai Science and Yue Ke Ji Zi [2007] No.
Sterilization and kidney-quieting capsule 0.00 35,000.00
Technology Department 172
Special expense for intellectual property protection in Qing Cai Jiao [2010]No.
0.00 50,000.00
Qingyuan City Qingyuan Finance Bureau 90
Supporting fund for patent technologies 100,000.00 0.00 Zhuhai Finance Bureau Zhu Zhi [2012] No. 32
Allowance PVC soft packages of technical reform and National Development and Yue Ke Ji Zi [2007] No.
97,182.90 330,512.24
bid-invitation project supported by the provincial finance Reform Commission 172
Financial allowance for Shenqi quality control
Shaoguan Finance Bureau/ Shao Guan Cai Jiao
technologies granted by Shaoguan Science & 1,254,166.66 0.00
Science & Technology Bureau [2011] No.79
Technology Bureau
Demonstration project of solar energy photoelectric
350,500.02 0.00 Zhuhai Finance Bureau ——
structure application
Min Jing Mao Yun Xing
Award capital for power utilization 187,720.00 0.00 Fuzhou Finance Bureau
[2012] No.323
First batch of financial award for energy-saving economy
190,000.00 0.00 Gutian Finance Bureau Gu Cai Qi [2012] No.46
in Fujian Province
Modern Chinese medicine hi-tech innovation Shao Cai Gong[2010]
49,998.00 0.00 Shaoguan Finance Bureau
industrialization base construction No.170
Fujian Branch of China Export &
Credit Insurance Corporation
Export credit insurance allowance 290,042.00 61,497.00 /Fuzhou Finance ——
Department/Fuzhou Jin’an
Finance Department
Electricity-saving of lighting water pump fan and Shao Cai
34,998.00 0.00 Shaoguan Finance Bureau
air-conditioner system Gong[2010]179
Gu Zheng Wen [2012]
Award for power utilization 144,100.00 0.00 Gutian Finance Bureau
No.276
Pengzhou Industry and Scientific
& Technical Information
Allowance for energy consumption 8,700.00 8,976.00 Bureau/Management ——
Commission of Zhuhai Bonded
area
135
丽珠医药集团股份有限公司 2013 年半年度报告全文
Type January to January to Source unit Approval document
June 2013 June 2012
Shenqifuzheng injection 61,619.48 0.00 Zhuhai Finance Bureau ——
Zhuhai Science, Industry and
Award for excellent tax-payer enterprises 10,000.00 0.00 ——
Trade Bureau
Others 180,325.03 20,000.00 —— ——
Total 12,883,755.38 11,882,340.48
(XXX) Non-operating Expense
Item January to June January to June Amount accrued to the
2013 2012 current non-recurring profit and
loss
Total of loss for disposal of the non-current 4,620.05 4,620.05
assets 76,607.97
Including: Loss for disposal of fixed assets 4,620.05 76,607.97 4,620.05
Rejection of fixed assets 78,659.03 123,437.56 78,659.03
Penalty payments 34,016.35 0.00 34,016.35
Public welfare donations 1,268,264.83 0.00 1,268,264.83
Others 76,863.32 24,349.86 76,863.32
Total 1,462,423.58 224,395.39 1,462,423.58
(XXXI) Income Taxes
Item January to June 2013 January to June 2012
Current income tax calculated in accordance with
taxation law and relevant regulations 52,634,810.70 51,114,053.37
Adjustment of deferred income tax -210,843.45 -3,442,061.28
Total 52,423,967.25 47,671,992.09
(XXXII) Calculation Steps of Basic profit per share and Diluted profit per share
(1) List of Basic profit per share and Diluted profit per share
136
丽珠医药集团股份有限公司 2013 年半年度报告全文
January to June 2013 January to June 2012
Profit in the report period Basic profit Diluted profit Basic profit Diluted profit
per share per share per share per share
Net profit attributable to the ordinary
0.88 0.88 0.77 0.77
shareholders
Net profit attributable to the ordinary
shareholders after deduction of 0.84 0.84 0.74 0.74
non-recurring profit and loss
(2) Calculation Steps of profit per share and Diluted profit per share
Item No January to June January to June
2013 2012
Net profit attributable to the ordinary shareholders A 259,310,414.64 228,705,016.39
Non-recurring profit and loss B 10,929,243.30 11,024,172.04
Net profit attributable to the ordinary shareholders after
C=A-B 248,381,171.34 217,680,844.35
deduction of non-recurring profit and loss
Total quantity of shares in the beginning of D
295,721,852 295,721,852
period
Increase quantity of shares due to the transfer from
public reserves to share capitals or the distribution of E 0 0
share dividends in the report period
Increase quantity of shares due to the issuing of new F
shares or transfer from debts to shares in the report 0 0
period
Length from the next month after share G
increase to the end of report period (unit: 0 0
month)
Decrease quantity of shares due to the repurchase in H
0 0
the report period
Length from the next month of share decrease to the I
0 0
end of report period (unit: month)
Decrease quantity of shares in the report period J 0 0
Length of report period (unit: month) K 6 6
137
丽珠医药集团股份有限公司 2013 年半年度报告全文
The weighted average number of ordinary L=D+E+F*G/K-H*I/K-J
295,721,852 295,721,852
shares which are issued to the public
Basic profit per share M=A/L 0.88 0.77
Basic profit per share after deduction of N=C/L
0.84 0.74
non-recurring profit and loss
During the report period, the company has no diluted potential ordinary shares, so the diluted profit pershare is equal to
the basic profit per share.
(XXXIII) List of other comprehensive returns
January to June January to June 2012
Item
2013
1. Profit (loss) caused by the saleable financial assets -785,204.28 418,872.56
Minus: Income tax effect of saleable financial assets -117,780.63 62,830.89
Net amount that was accrued to other comprehensive gains in the
previous periods and is transferred to the current profit and loss 0.00 0.00
Subtotal -667,423.65 356,041.67
2. Shares in the other comprehensive gains of invested units calculated
by Equity Method 0.00 0.00
Minus: Income tax effect of the shares in the other comprehensive
gains of invested units calculated by Equity Method 0.00 0.00
Net amount that was accrued to other comprehensive gains in the
previous periods and is transferred to the current profit and loss 0.00 0.00
Subtotal 0.00 0.00
3．Profit (or loss) caused by cash flow hedging instruments 0.00 0.00
Minus: Income tax effect of cash flow hedging instruments 0.00 0.00
Net amount that was accrued to other comprehensive gains in the
previous periods and is transferred to the current profit and loss 0.00 0.00
Adjusted amount that was transferred as the initial confirmation amount
of hedged item 0.00 0.00
138
丽珠医药集团股份有限公司 2013 年半年度报告全文
Subtotal 0.00 0.00
4．Conversion difference of foreign currency financial statements -1,382,723.45 408,419.31
Minus: Net amount that is transferred to the current profit and loss due
to disposal of overseas operation 0.00 0.00
Subtotal -1,382,723.45 408,419.31
5. Others 0.00 0.00
Minus: Effect of income tax that is accrued to the other comprehensive
gains 0.00 0.00
Net amount that was accrued to other comprehensive gains in the
previous periods and is transferred to the current profit and loss 0.00 0.00
Subtotal 0.00 0.00
Total -2,050,147.10 764,460.98
(XXXIV) Notes to cash flow statement
(1) Other Cashes Received Related to the Operating Activities
Item January to June 2013 January to June 2012
Deposit 26,543,475.79 18,787,523.84
Fund transfer 3,277,195.42 36,872,284.67
Governmental allowance 5,955,183.56 6,793,339.10
Interest income 12,448,188.23 26,014,646.03
Penalty income 37,672.50 5,260.00
Deposit 264,281.80 0.00
Incomes from selling the
59,151.70
wastes 143,243.13
Compensation incomes 812,555.00 75,944.04
Deposits for L/C 17,506,921.43 0.00
Others 11,602,722.89 5,552,294.12
Total 78,591,439.75 94,160,443.50
139
丽珠医药集团股份有限公司 2013 年半年度报告全文
(2) Other Cashes Paid Related to the Operating Activities
Item January to June 2013 January to June 2012
Office expense 12,269,529.30 9,517,800.81
Traveling expense 12,595,001.56 9,665,747.24
Communication expense 12,283,515.34 6,722,786.41
Water and electricity expenses 1,874,089.03 4,497,413.15
Transportation expense 20,372,627.24 18,386,249.74
Advertising expense 7,588,664.09 3,781,934.50
Meeting expense 17,788,236.88 8,254,796.75
Lease expense 5,606,270.50 3,486,116.44
Maintenance expense 1,402,895.53 2,029,292.74
Environment Protection Cost 1,417,550.69 48,518.00
Auditing expense and
information disclosure expense 2,292,668.99 1,287,532.44
Insurance 586,972.05 1,408,163.39
Meeting expense of Board of
Directors 53,585.60 500,640.48
Consultancy expense of
consultants 13,163,940.54 543,764.77
Research and development
expense 14,059,250.06 17,828,284.09
Lawsuit expense 487,349.00 175,246.00
Bid-invitation expense 741,420.62 242,800.00
Testing and inspection
expenses 606,361.36 148,928.22
Formality expenses charged 1,267,520.48 1,746,455.22
140
丽珠医药集团股份有限公司 2013 年半年度报告全文
Item January to June 2013 January to June 2012
by banks
Penalty payment 34,016.35 0.00
Reserve fund 11,381,855.03 26,996,161.21
Deposit 10,995,626.67 29,929,694.41
Fund transfer 7,772,800.53 81,633,637.84
Business promotion expense 685,772,456.41 519,886,307.32
Deposits for L/C and bank
acceptance drafts 9,996,654.30 0.00
Transfer royalty of
technologies 2,100,000.00 4,475,000.00
Others 7,232,776.33 6,409,714.92
Total 861,743,634.48 759,602,986.09
(3) Other cashes paid related to investment activities
Item January to June 2013 January to June 2012
Deposits for L/C 5,400,000.00 0.00
(XXXV) Supplementary Data of Consolidated Cash Flow Statement
(1) Supplementary data of cash flow statement
January to June January to June
Item 2013 2012
1. Reconciliation of net profit to cash flow from operating activities:
Net profits
269,675,643.90 246,731,938.19
Plus: Reserve for asset depreciation 16,030,577.83 13,145,646.32
Fixed asset depreciation, consumption of oil and gas assets and
production biology asset depreciation 70,064,684.65 65,105,818.86
Amortization of intangible assets 9,503,685.18 9,508,058.36
Amortization of long-term amortization expense and long-term assets 5,671,058.62 4,238,759.48
Loss in disposal of fixed assets, intangible assets and other long-term -325,316.11 -14,164.54
141
丽珠医药集团股份有限公司 2013 年半年度报告全文
January to June January to June
Item 2013 2012
assets (the profits will be listed beginning with "-")
Loss in the rejection of fixed assets (the profits will be listed beginning
with "-") 78,659.03 123,437.56
Loss in the changes of fair values (the profits will be listed beginning
with "-") 1,242,332.26 -2,114,503.89
Financial expense (the profits will be listed beginning with "-") 644,227.39 12,221,496.07
Investment loss (the profits will be listed beginning with "-") -3,086,974.76 -1,731,468.57
Decrease of deferred income tax assets (the increase will be listed
beginning with "-") -427,784.25 -3,579,650.01
Increase of deferred income tax liabilities (the decrease will be listed
beginning with "-") 216,940.80 137,588.73
Decrease of inventory (the increase will be listed beginning with "-") -55,357,012.81 -83,216,519.03
Decrease of receivable operating items (the increase will be listed
beginning with "-") -277,041,226.17 -138,374,517.32
Increase of payable operating items (the decrease will be listed
beginning with "-") 148,941,527.98 213,234,465.73
Others 0.00 0.00
Net amount of cash flow from the operating activities 185,831,023.54 335,416,385.94
2.Key investment and financing activities not involving the cash income
and payment
Transfer from liabilities to share capital 0.00 0.00
Convertible company bonds due within one year 0.00 0.00
Financing leasing of fixed assets 0.00 0.00
3.Change of cash and cash equivalents:
Cash balance at the end of period 1,412,608,467.91 885,462,208.68
Minus: cash balance at the beginning of period 1,178,636,300.52 1,432,175,794.78
Plus: cash equivalent balance at the end of period 0.00 0.00
Minus: cash equivalent balance at the beginning of period 0.00 0.00
Net increase of cash and cash equivalent 233,972,167.39 -546,713,586.10
(2) Relevant information about the obtaining or disposal of the subcompanies or other operating units in this period: none
(3) Composition of Cash and Cash Equivalents
142
丽珠医药集团股份有限公司 2013 年半年度报告全文
Item 2013/6/30 2012/6/30
I. Cash 1,412,608,467.91 885,462,208.68
Including: Cash at stock 104,156.71 185,221.13
Deposits in banks that may be used for
payment randomly 1,411,792,956.41 881,294,548.86
Other Currency Capitals that may be used
for payment randomly 711,354.79 3,982,438.69
II. Cash equivalents 0.00 0.00
Including: Bond investment due within 3
months 0.00 0.00
III. Cash and cash equivalent balances at
the end of period 1,412,608,467.91 885,462,208.68
XI. Relationship and Transaction of Associated Parties
1. Parent company of this enterprise
Sharehol Voting
ding right
percentag percentag
Associati Final
Regist Legal e of e of
Name of Parent on Enterpris Business Registered controller Organizati
ered Repres parent parent
Company relationsh e type nature capital of this on Code
place entative company company
ip enterprise
in this in this
enterprise enterprise
(%) (%)
Production
and sales
Joincare Controllin Company
of oral
Pharmaceutical g Limited Shenz Zhu 1,545,835,89 Zhu 61887436-
liquids, 26.2105% 26.2105%
Group Industry sharehold (Listed hen Baoguo 2 Baoguo 7
medicines
Co., Ltd er company)
and
health-care
143
丽珠医药集团股份有限公司 2013 年半年度报告全文
food
Remarks about parent company of this enterprise
By June 30, 2013, the parent company and its subcompanies of this company has held a total of 140,122,590 shares,
accounting for 47.3832% of all shares. In such shares, the formalities for transferring the equities of 6,059,428 legal
person shares held in the name of Guangzhou Begol Trading Corporation to Joincare Group have not been handled, and
the formalities for transferring the other shares have been handled.
2. Subcompanies of this enterprise
Please see the note IV for more details.
3. Joint venture and associated enterprises of this enterprise
Please see the Note V. 9 and Note V.10.
4. Other associated parties of this enterprise
Name of other associated parties Relationship with this company Organization code
Shenzhen Haibin Pharmaceutical Co., Ltd Company controlled by parent
company 61885517-4
Jiaozuo Joincare Pharmaceutical Group Company controlled by parent
Industry Co., Ltd company 77512952-0
Zhuhai Joincare Pharmaceutical Group Company controlled by parent
Industry Co., Ltd company 75788087-1
Health Pharmaceutical (China) Co., Ltd Company controlled by parent
company 61749891-0
Shenzhen Taitai Pharmaceutical Company Company controlled by parent
Limited company 74121715-1
Shenzhen Taitai Gene Engineering Co., Ltd Company controlled by parent
company 73308333-3
5. Transactions between associated parties
(1) List about purchase of commodities and labors
Pricing January to June 2013 January to June 2012
Details about mode and Percentage Percentage
Associated party associated decision-ma in Similar in Similar
Amount Amount
transaction king Transaction Transaction
procedure of Amount (%) Amount (%)
144
丽珠医药集团股份有限公司 2013 年半年度报告全文
associated
transaction
Guangdong Blue Treasure Raw
Market price 1,204,449.85 0.15% 4,186,303.80 0.40%
Pharmaceutical Co. Ltd. materials
Shenzhen Haibin Raw
Market price 4,104,700.85 0.51% 22,649.57 0.00%
Pharmaceutical Co., Ltd materials
Health Pharmaceutical (China) Low-value
Market price 0.00 0.00% 10,089.60 0.00%
Co., Ltd consumables
Shenzhen Taitai Gene Low-value
Market price 64,102.56 0.01% 145,299.15 0.01%
Engineering Co., Ltd consumables
Production of
Joincare Pharmaceutical
finished Market price 0.00 0.00% 102,564.10 0.01%
Group Industry Co., Ltd
products
Jiaozuo Joincare
Raw
Pharmaceutical Group Industry Market price 61,303,294.38 7.66% 29,478,803.42 2.82%
materials
Co., Ltd
Total 66,676,547.64 8.33% 33,945,709.64 3.24%
(2) List about sales of commodities and provision of labors
Pricing January to June 2013 January to June 2012
mode and
Details about decision-ma Percentage Percentage
Associated party associated king in Similar in Similar
Amount Amount
transaction procedure of Transaction Transaction
associated Amount (%) Amount (%)
transaction
Zhuhai Joincare Production of
Pharmaceutical Group Industry finished Market price 5,686.36 0.00% 10,077.94 0.00%
Co., Ltd products
Production of
Guangdong Blue Treasure
finished Market price 18,066,712.74 0.84% 4,836,505.58 0.26%
Pharmaceutical Co. Ltd.
products
Jiaozuo Joincare Raw Market price 434,704.27 0.02% 3,076.92 0.00%
145
丽珠医药集团股份有限公司 2013 年半年度报告全文
Pharmaceutical Group Industry materials
Co., Ltd
Total of commodity sales 18,507,103.37 0.86% 4,849,660.44 0.26%
Guangdong Blue Treasure Water,
Pharmaceutical Co. Ltd. electricity Market price 2,517,340.10 97.64%
and power 3,033,195.13 71.38%
Zhuhai Joincare Water,
Pharmaceutical Group Industry electricity Market price 60,821.68 2.36%
Co., Ltd and power 0.00 0.00%
Total of labor provision 2,578,161.78 100.00% 3,033,195.13 71.38%
(3) Associated renting
List of renting by the company
Pricing Renting
Beginning
Types of renting Ending date basis of incomes
Rentee name Renter name date of
assets of renting renting confirmed in
renting
incomes this period
Zhuhai Joincare
The Houses and January December Market
Pharmaceutical Group Industry 228,860.07
company structures 2013 2013 price
Co., Ltd
The Health Pharmaceutical (China) Houses and December Market
March 2011 58,303.00
company Co., Ltd structures 2013 price
List of renting by the company
Pricing Renting
Beginning
Types of renting Ending date basis of incomes
Rentee name Renter name date of
assets of renting renting confirmed in
renting
incomes this period
Joincare Pharmaceutical The Houses and February February Market
329,472.00
Group Industry Co., Ltd company structures 2013 2014 price
(4) Associated guaranty
The bank loan guaranties that the company provides to the controlling subcompanies during the report period are
listed as follows: (RMB 10 thousand Yuan):
146
丽珠医药集团股份有限公司 2013 年半年度报告全文
Occurrence Balance at Guarantee Guaranty Period
Actual
Date the end of Amount type
Name of Guarantee guarantee
period
(Signing date
amount
of agreement)
Joint and
several
Zhuhai Livzon liability 2013.3.20-2015.3.20(Zhuhai
Reagent Co., Ltd 2013.3.20 0.00 0.00 4,000.00 guaranty Branch of Bank of China)
1,235.74 Joint and
several 2012.3.22-2015.3.21(Zhuhai
Zhuhai Livzon liability Branch of Standard
Reagent Co., Ltd 2012.3.22 0.00 0.00 （USD200.00） guaranty Chartered Bank)
Joint and
Zhuhai Livzon several 2012.7.2-2015.7.2(Zhuhai
Medicine Trade Co., liability Branch of Bank of
Ltd 2012.7.2 0.00 0.00 1,000.00 guaranty Communications)
Joint and
Limin Pharmaceutical several 2012.4.17-2015.4.16(Shaogu
Co., Ltd under Livzon liability an Wujiang Branch of
Group 2012.4.17 15,000.00 15,000.00 15,000.00 guaranty Agricultural Bank of China)
Joint and
Livzon Syntpharm several 2012.6.7-2015.6.7(China
Co., Ltd in Zhuhai liability Resources Bank of Zhuhai
Bonded Area 2012.6.7 0.00 0.00 3,000.00 guaranty Co., Ltd)
Livzon Joint and
Pharmaceutical several 2012.5.17-2015.5.16(Zhuhai
Factory under Livzon liability Branch of Xiamen
Group 2012.5.17 0.00 0.00 16,000.00 guaranty International Bank)
Livzon Joint and
Pharmaceutical several 2010.12.14-2018.12.14(Zhuh
Factory under Livzon liability ai Branch of Bank of
Group 2010.12.23 0.00 0.00 32,000.00 guaranty Communications)
147
丽珠医药集团股份有限公司 2013 年半年度报告全文
Occurrence Balance at Guarantee Guaranty Period
Actual
Date the end of Amount type
Name of Guarantee guarantee
period
(Signing date
amount
of agreement)
Livzon Joint and
Pharmaceutical several
Factory under Livzon liability 2010.6.12-2018.6.3(Zhuhai
Group 2009.10.15 0.00 0.00 12,000.00 guaranty Branch of Bank of China)
Livzon Joint and
Pharmaceutical several
Factory under Livzon liability 2012.6.15-2015.6.15(Zhuhai
Group 2012.6.15 0.00 0.00 10,000.00 guaranty Branch of Bank of China)
Livzon 7,965.50 Joint and
Pharmaceutical several 2010.7.20-2013.7.20(Shenzh
Factory under Livzon liability en Branch of Nanyang
Group 2010.5.13 0.00 0.00 (HKD10,000.00) guaranty Commercial Bank)
Livzon 4,016.16 Joint and
Pharmaceutical several 2012.7-31-2015.7.31(Guang
Factory under Livzon liability zhou Branch of Societe
Group 2012.7.31 0.00 0.00 (USD650.00) guaranty Generale)
Livzon 1,194.83 Joint and
Pharmaceutical several 2012.6.7-2015.6.7(China
Factory under Livzon liability Resources Bank of Zhuhai
Group 2012.6.7 1,194.83 (HKD1,500.00) 9,000.00 guaranty Co., Ltd)
Livzon 4,381.03 Joint and
Pharmaceutical several
Factory under Livzon liability 2011.8.4-2014.8.4(Macau
Group 2011.8.4 0.00 0.00 (HKD5,500.00) guaranty Branch of Wing Lung Bank)
Total guaranty amount to its controlling subcompanies
in the report period 16,194.83
Total balance of guaranty amount to its controlling 16,194.83
148
丽珠医药集团股份有限公司 2013 年半年度报告全文
Occurrence Balance at Guarantee Guaranty Period
Actual
Date the end of Amount type
Name of Guarantee guarantee
period
(Signing date
amount
of agreement)
subcompanies in the report period
(5) Other associated transactions
On June 3, 2013, the 2013 first temporary shareholders’ meeting of Zhuhai Livzon Dankang Biotechnology Co., Ltd
resolved that, the registered capital of company increased to RMB 300 million Yuan, and the company shareholders
would increase the capitals based on the original contribution percentage, i.e., the company increases the capitals by
RMB 102 million Yuan, and Joincare Pharmaceutical Group Industry Co., Ltd increases the capitals by RMB 98 million
Yuan. On June 7, 2013, the above increase of capitals have been examined and approved by the 2013 second temporary
shareholders’ meeting.
6. Receivable and payable balances with associated parties
(1) Receivable balances of listed company from the associated parties
2013/6/30 2012/12/31
Project Name Associated parties Reserve for bad Reserve for bad
Book balance Book balance
debts debts
Accounts Guangdong Blue Treasure
8,068,533.90 8,724,846.80
receivable Pharmaceutical Co. Ltd. 403,426.70 436,242.34
Zhuhai Joincare
Accounts
Pharmaceutical Group 44,287.98 19,928.25
receivable
Industry Co., Ltd 25,430.20 996.41
Jiaozuo Joincare
Accounts
Pharmaceutical Group 508,604.00 0.00
receivable
Industry Co., Ltd 2,214.40 0.00
Subtotal 8,621,425.88 431,071.30 8,744,775.05 437,238.75
Zhuhai Joincare 26,386.99 26,386.99
Other accounts
Pharmaceutical Group
receivable
Industry Co., Ltd 1,319.35 1,319.35
Other accounts Health Pharmaceutical 8,329.00
receivable (China) Co., Ltd 416.45 0.00 0.00
Other accounts Jiaozuo Joincare 139,991.92 6,999.60 0.00 0.00
149
丽珠医药集团股份有限公司 2013 年半年度报告全文
receivable Pharmaceutical Group
Industry Co., Ltd
Other accounts Guangdong Blue Treasure
1,353,138.58 942,888.96
receivable Pharmaceutical Co. Ltd. 67,656.93 47,144.45
Subtotal 1,527,846.49 76,392.33 969,275.95 48,463.80
(2) Accounts payable to associated parties by the listed company
Project Name Associated party 2013/6/30 2012/12/31
Guangdong Blue Treasure Pharmaceutical
Accounts payable 0.00 275.00
Co. Ltd.
Accounts payable Shenzhen Haibin Pharmaceutical Co., Ltd 3,835,000.00 4,065,860.00
Jiaozuo Joincare Pharmaceutical Group
Accounts payable 46,795,101.52 25,289,950.00
Industry Co., Ltd
Subtotal 50,630,101.52 29,356,085.00
Other accounts Jiaozuo Joincare Pharmaceutical Group
11,656.21 7,261.05
payable Industry Co., Ltd
Other accounts Joincare Pharmaceutical Group Industry
1,208,064.00 878,592.00
payable Co., Ltd
Subtotal 1,219,720.21 885,853.05
VII. Contingent Events
By June 30, 2013, the company has no contingent key events for disclosure.
VIII. Commitments
1. This company signed the patent license agreement with Korea Yiyang Medicine Company. This
agreement approves our company’s exclusive and irrevocable right to use the patent PPI(proton pump
inhibitor) compound and Yiyang patent in China including Hong Kong and Macao for the purpose of
production, processing and distribution. The transfer fee will be USD 2.50 million, and by December 31,
2008, the company has fully paid it. The company agrees to give Yiyang the commission of 10% of sales
amount during the first three years when this product begins to be sold, 8% of sales amount during the
next five years, and 6% of sales amount from the remaining time to July 22, 2014 (the expiry date of
agreement). Since 2009, the company has started the sales and paid the commissions in accordance
150
丽珠医药集团股份有限公司 2013 年半年度报告全文
with the agreement.
2. In 2005, the company signed the approval and supply agreement with Korea LG life science Ltd.
(hereinafter referred to as LG Company), and it grants Gemifloxacin Mesylate with the relevant
certificates about intellectual properties and specifies that the permission fees of the methanesulfonic
acid spasmolytic and pellet will be USD1, 000,000 respectively (they have been fully paid by December
31, 2006). This agreement specifies as follows:
Within the first five years from the validity date of the agreement, the company’s net sales volume of
above final pellet products will amount to 1.5 million bags (3 pellets in each bag) and LG Company will
refund USD 500,000 after the taxation at one time within two months after the company has submitted
the net sales volume certificate. At the same time, during the validity period of the agreement (by the end
of 2015), the company should pay a royalty of 1.5% of net sales volume after the taxation to LG
Company during 30 days after each quarter. The company has begun the selling activities in 2008 and
paid the royalties in accordance with the agreements.
Within the first five years from the validity date of the agreement, the company will pay a royalty of 10% of net sales
volume after the taxation about injection products to LG Company within 30 days after each quarter. The company will pay
a royalty of 6% of net sales volume after the taxation about injection products to LG Company within 30 days after each
quarter from the sixth business year to the expiry date of agreement (by the end of 2019).
IX Events occurring after the Balance Sheet Date
By the reporting date, the company has no non-adjusting events occurring after the balance sheet date
that need to be disclosed.
X. Other Key Events
1. Assets and Liabilities calculated at the fair values
Unit: RMB 1000 Yuan
Amount at Profit and Accumulated Withdrawn Amount at
Item
depreciation the end of
the loss in the changes of
in this period period
beginning changes of fair values
of period fair values that are
in this accrued to
period the equities
151
丽珠医药集团股份有限公司 2013 年半年度报告全文
Financial assets
1. Financial assets that are calculated
in the fair values and whose changes
are accrued to the current profit and
loss (not including the derivative
financial assets) 59,319.62 -1,242.33 0.00 0.00 11,477.81
2. Derivative financial assets 0.00 0.00 0.00 0.00 0.00
3. Saleable financial assets 10,612.86 0.00 -785.20 0.00 9,827.66
Subtotal of financial assets 69,932.48 -1,242.33 -785.20 0.00 21,305.47
Real estate for investment 0.00 0.00 0.00 0.00 0.00
Production biology asset 0.00 0.00 0.00 0.00 0.00
Others 0.00 0.00 0.00 0.00 0.00
Total 69,932.48 -1,242.33 -785.20 0.00 21,305.47
Financial liabilities 0.00 0.00 0.00 0.00 0.00
2. Foreign currency financial assets and foreign currency financial liabilities
Unit: RMB 1000 Yuan
Amount at Profit and Accumulated Withdrawn Amount at
Item
depreciation the end of
the loss in the changes of
in this period period
beginning changes of fair values
of period fair values that are
in this accrued to
period the equities
Financial assets
1. Financial assets that are calculated
in the fair values and whose changes
are accrued to the current profit and
loss (not including the derivative
financial assets) 58,780.09 -1,220.09 0.00 0.00 10,960.53
2. Derivative financial assets 0.00 0.00 0.00 0.00 0.00
3. Loans and accounts receivable 64,130.63 0.00 0.00 449.27 83,751.32
4. Saleable financial assets 0.00 0.00 0.00 0.00 0.00
5. Investments that are held to the 0.00 0.00 0.00 0.00 0.00
152
丽珠医药集团股份有限公司 2013 年半年度报告全文
maturity dates
Subtotal of financial assets 122,910.72 -1,220.09 0.00 449.27 94,711.85
Financial liabilities 248,730.85 0.00 0.00 0.00 256,368.81
XI. Notes to Main Items of Financial Statements of Parent Company
1. Accounts receivable
a) ..... List of accounts receivable as per the type
2013/6/30 2012/12/31
Book balance Reserve for bad debts Book balance Reserve for bad debts
Item
Amount Percenta Amount Percenta Amount Percenta Amount Percentag
ge ge ge e
Accounts receivable whose
individual amount is large and
whose individual bad debt reserve
is withdrawn 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts receivable whose bad
debt reserve is withdrawn based on 25,321,122.9 20,359,295.3
the combination 466,730,257.32 100.00% 6 5.43% 377,303,477.50 100.00% 3 5.40%
Accounts receivable whose
individual amount is not large but
whose individual bad debt reserve
is withdrawn 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 25,321,122.9 20,359,295.3
466,730,257.32 100.00% 6 5.43% 377,303,477.50 100.00% 3 5.40%
Remarks about the classification of accounts receivable
①Accounts receivable whose individual amount is large and whose individual bad debt reserve is withdrawn at the
end of period
□ Applicable √Inapplicable
②In the combination, accounts receivable whose reserves for bad debts are withdrawn by the age analysis method
√Applicable □Inapplicable
Age 2013/6/30 2012/12/31
153
丽珠医药集团股份有限公司 2013 年半年度报告全文
Book balance Reserve for bad Book balance Reserve for bad
Amount Percentage debts Amount Percentage debts
Within 1 year 454,973,532.56 97.48% 22,748,676.63 370,544,400.26 98.21% 18,527,220.02
1-2 years 7,647,786.18 1.64% 458,867.17 4,525,851.18 1.20% 271,551.08
2-3 years 2,116,389.33 0.45% 423,277.87 536,357.54 0.14% 107,271.51
Over 3 years 1,992,549.25 0.43% 1,690,301.29 1,696,868.52 0.45% 1,453,252.72
Total 466,730,257.32 100.00% 25,321,122.96 377,303,477.50 100.00% 20,359,295.33
③In the combination, accounts receivable whose reserves for bad debts are withdrawn by the balance percentage
method
□ Applicable √Inapplicable
④In the combination, accounts receivable whose reserves for bad debts are withdrawn by the other methods
□ Applicable √Inapplicable
⑤Accounts receivable whose individual amount is not large but whose individual bad debt reserve is withdrawn
□ Applicable √Inapplicable
b) ..... Accounts receivable that are reversed or received in this period: none.
c) ..... Accounts receivable that are actually written off in this period
d) ..... In the accounts receivable, debts with the shareholder units holding over 5% (including 5%) voting rights
By June 30, 2013, there are no debts with the shareholder units holding over 5% (including 5%) voting rights.
e) ..... By June 30, 2013, the top 5 accounts receivable are listed as follows:
Relationship Nature Percentage
Debtor name with the Debt amount or Debt period in Total
company content Amount
Payme
Guangdong Meikang Daguang Non-associate 14,915,664.0
nts for 3.20%
Wante Pharmaceutical Co., Ltd d party 0
goods Within 1 year
Payme
Harbin Pharm. Group Sanjing Non-associate 12,839,088.0
nts for 2.75%
Pharmaceutical. Co. ,Ltd d party 0
goods Within 1 year
154
丽珠医药集团股份有限公司 2013 年半年度报告全文
Within 1 year: RMB
Payme
Shandong Hongjitang Non-associate 10,485,691.7 10,463,586.16 Yuan;
nts for 2.25%
Pharmaceutical Group Co., Ltd d party 0 1-2 years: RMB
goods
22,105.54 Yuan
Payme
Non-associate
Shanghai Sifu Medicine Co., Ltd 9,330,768.00 nts for 2.00%
d party
goods Within 1 year
Payme
Chongqing Pharmaceutical Xinte Non-associate
9,319,309.89 nts for 2.00%
Medicine Co., Ltd d party
goods Within 1 year
56,890,521.5
12.19%
Total 9
f) ...... By June 30, 2013, the accounts receivable from associated parties: none.
g) ..... Accounts receivable that have been confirmed: none.
h) ..... Assets and liability amounts that are securitized with the accounts receivable as subjects and continue to exist:
none.
2. Other accounts receivable
(1) List of other accounts receivable as per the type
2013/6/30 2012/12/31
Book balance Reserve for bad debts Book balance Reserve for bad debts
Item
Amount Percenta Amount Percenta Amount Percenta Amount Percent
ge ge ge age
Accounts receivable whose
individual amount is large and
whose individual bad debt reserve
is withdrawn 1,025,602,462.14 98.49% 0.00 0.00% 660,749,892.24 97.93% 0.00 0.00%
Accounts receivable whose bad
debt reserve is withdrawn based
on the combination 15,690,071.93 1.51% 2,152,305.85 13.72% 13,993,483.90 2.07% 1,868,360.55 13.35%
Accounts receivable whose
individual amount is not large but 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
155
丽珠医药集团股份有限公司 2013 年半年度报告全文
whose individual bad debt reserve
is withdrawn
Total 1,041,292,534.07 100.00% 2,152,305.85 0.21% 674,743,376.14 100.00% 1,868,360.55 0.28%
Remarks about the classification of other accounts receivable
①Other accounts receivable whose individual amount is large and whose individual bad debt reserve is withdrawn at
the end of period
√Applicable □Inapplicable
Name of other accounts Book balance Reserve Withdrawal Reason for withdrawal
receivable for bad percentage
debts
fund transfer The debtor is the subcompany
1,025,602,462.14 0.00 0.00% controlled by the company and there
are no risks in receiving the debts.
②In the combination, other accounts receivable whose reserves for bad debts are withdrawn by the age analysis
method
√Applicable □Inapplicable
2013/6/30 2012/12/31
Age Book balance Reserve for bad Book balance Reserve for bad
Amount Percentage debts Amount Percentage debts
Within 1 year 8,071,993.90 51.45% 403,599.69 6,220,199.01 44.45% 311,009.95
1-2 years 1,201,066.71 7.65% 72,064.01 1,657,323.91 11.84% 99,439.43
2-3 years 5,699,654.74 36.33% 1,139,930.95 5,691,933.94 40.68% 1,138,386.79
Over 3 years 717,356.58 4.57% 536,711.20 424,027.04 3.03% 319,524.38
Total 15,690,071.93 100.00% 2,152,305.85 13,993,483.90 100.00% 1,868,360.55
③In the combination, other accounts receivable whose reserves for bad debts are withdrawn by the balance
percentage method
□ Applicable √Inapplicable
④In the combination, other accounts receivable whose reserves for bad debts are withdrawn by the other methods
□ Applicable √Inapplicable
⑤ Other accounts receivable whose individual amount is not large but whose individual bad debt reserve is
withdrawn
156
丽珠医药集团股份有限公司 2013 年半年度报告全文
□ Applicable √Inapplicable
(2) Other accounts receivable that are reversed or received in this period: none.
(3) Accounts receivable that are actually written off in this period: none.
(4) In the other accounts receivable, debts with the shareholder units holding over 5% (including 5%) voting rights
By June 30, 2013, there are no debts with the shareholder units holding over 5% (including 5%) voting rights.
(5) By June 30, 2013, the top 5 other accounts receivable are listed as follows:
Relationship Percentage
Nature or
Debtor name with the Debt amount Debt period in Total
content
company Amount
Ningxia Xinbeijiang Pharmaceutical Subcompany 271,656,898.7 Fund
Co., Ltd under Livzon Group 5 transfer Within 1 year 26.09%
Ningxia Fuxing Pharmaceutical Co., Subcompany 229,406,754.4 Fund
Ltd under Livzon Group 7 transfer Within 1 year 22.03%
Livzon Pharmaceutical Factory Subcompany 163,812,508.2 Fund
under Livzon Group 3 transfer Within 1 year 15.73%
Subcompany 123,857,335.9 Fund
Antao Development Limited 2 transfer Within 1 year 11.89%
Livzon Syntpharm Co., Ltd in Subcompany 123,585,976.8 Fund
Zhuhai Bonded Area 1 transfer Within 1 year 11.87%
912,319,474.1
Total 8 87.61%
(6) By June 30, 2013, the other accounts receivable from associated parties are listed as follows:
Debtor name Relationship with the Amount Percentage in
company Total Amount
Ningxia Xinbeijiang Pharmaceutical Co., Subcompany
Ltd under Livzon Group 271,656,898.75 26.09%
Ningxia Fuxing Pharmaceutical Co., Ltd Subcompany
under Livzon Group 229,406,754.47 22.03%
Livzon Pharmaceutical Factory under Subcompany
Livzon Group 163,812,508.23 15.73%
Antao Development Limited Subcompany 123,857,335.92 11.89%
157
丽珠医药集团股份有限公司 2013 年半年度报告全文
Livzon Syntpharm Co., Ltd in Zhuhai Subcompany
Bonded Area 123,585,976.81 11.87%
Xinbeijiang Pharmaceutical Co., Ltd Subcompany
under Livzon Group 46,869,822.10 4.50%
Fuzhou Fuxing Pharmaceutical Co., Ltd Subcompany
under Livzon Group 28,771,377.51 2.76%
Wenshan Livzon Panax Notoginseng Subcompany
Plantation Co., Ltd 23,000,000.00 2.21%
Livzon (Hongkong) Co., Ltd Subcompany 13,320,277.77 1.28%
Jiaozuo Livzon Syntpharm Co., Ltd Subcompany 1,321,510.58 0.13%
Total 1,025,602,462.14 98.49%
(7) Other accounts receivable that have been confirmed: none.
(8) Assets and liability amounts that are securitized with the other accounts receivable as subjects and continue to
exist: none.
3. Long-term equity investment
(1) Particulars about long-term equity investment
Remarks
about the
difference
between Withdra
Shareholdi Percentag
the wal of
ng e of voting
Calculati share-holdi deprecia Cash
Increase or percentage rights in Depreciation
Invested unit on Investment cost 2012/12/31 2013/6/30 ng tion bonus in
decrease in the the reserve
method percentage reserve this period
invested invested
and voting in this
unit units(%)
rights period
percentage
in invested
units
Guangdong
cost
Development Bank 177,348.84 177,348.84 0.00 177,348.84 0.0004% 0.0004% 0.00 0.00 0.00
method
Co.Ltd
Beijing Medical Goods cost
100,000.00 100,000.00 0.00 100,000.00 0.821% 0.821% 100,000.00 0.00 0.00
Joint Operation method
158
丽珠医药集团股份有限公司 2013 年半年度报告全文
Company
Doumen Sanzhou cost
500,000.00 500,000.00 0.00 500,000.00 1.6% 1.6% 500,000.00 0.00 0.00
Industry City Co., Ltd method
China Resources
cost 20,000,000.0
Bank of Zhuhai Co., 95,325,760.00 95,325,760.00 0.00 95,325,760.00 1.5065% 1.5065% 0.00 0.00
method 0
Ltd
Ruiheng
Pharmaceutical cost
6,250,000.00 6,250,000.00 0.00 6,250,000.00 5.681% 5.681% 0.00 0.00 343,750.00
Technology method
Investment Co., Ltd
Zhuhai Livzon – Bai A
cost
Meng Biological 3,934,721.95 3,934,721.95 0.00 3,934,721.95 82% 82% 0.00 0.00 0.00
method
Materials Co., Ltd
Zhuhai Livzon
cost
Meidaxin Technology 800,000.00 800,000.00 0.00 800,000.00 100% 100% 0.00 0.00 0.00
method
Development Co., Ltd
Livzon Pharmaceutical
cost
Factory under Livzon 353,169,752.98 353,169,752.98 0.00 353,169,752.98 74.99% 74.99% 0.00 0.00 0.00
method
Group
Sichuan Guangda
cost
Pharmaceutical Co., 170,872,457.35 170,872,457.35 0.00 170,872,457.35 57.41% 57.41% 0.00 0.00 0.00
method
Ltd
Shanghai Livzon
cost
Pharmaceutical Co., 53,261,896.11 53,261,896.11 0.00 53,261,896.11 60.99% 60.99% 0.00 0.00 0.00
method
Ltd
Zhuhai Modern
cost
Chinese Medicine 4,539,975.00 4,539,975.00 0.00 4,539,975.00 75% 75% 0.00 0.00 0.00
method
Hi-tech Co., Ltd
Livzon Medicine Institute cost
6,004,000.00 6,004,000.00 0.00 6,004,000.00 60.04% 60.04% 0.00 0.00 0.00
under Livzon Group method
Livzon (Hongkong) cost
64,770,100.00 64,770,100.01 0.00 64,770,100.01 100% 100% 0.00 0.00 0.00
Co., Ltd method
159
丽珠医药集团股份有限公司 2013 年半年度报告全文
Hongkong Antao cost
534,050.00 534,050.00 0.00 534,050.00 100% 100% 0.00 0.00 0.00
Development Limited method
Xinbeijiang
Pharmaceutical Co., cost
116,446,982.80 116,446,982.80 0.00 116,446,982.80 92.14% 92.14% 7,271,307.03 0.00 0.00
Ltd under Livzon method
Group
Zhuhai Livzon cost
2,021,378.68 2,896,800.00 0.00 2,896,800.00 51% 51% 0.00 0.00 0.00
Reagent Co., Ltd method
Livzon Medicine
cost
Marketing Co., Ltd 12,008,000.00 12,008,000.00 0.00 12,008,000.00 60.04% 60.04% 0.00 0.00 0.00
method
under Livzon Group
Limin Pharmaceutical
cost
Co., Ltd under Livzon 184,301,219.52 184,301,219.52 0.00 184,301,219.52 65.10% 65.10% 0.00 0.00 0.00
method
Group
Zhuhai Livzon
cost
Medicine Trade Co., 40,020,000.00 40,020,000.00 0.00 40,020,000.00 66.70% 66.70% 0.00 0.00 0.00
method
Ltd
Fuzhou Fuxing
Pharmaceutical Co., cost 11,200,000.0
190,075,938.00 280,769,410.50 0.00 280,769,410.50 75% 75% 0.00 0.00
Ltd under Livzon method 0
Group
Zhuhai Livzon
cost
Dankang 102,000,000.00 51,000,000.00 51,000,000.00 102,000,000.00 51% 51% 0.00 0.00 0.00
method
Biotechnology Co., Ltd
Livzon Group Vaccine cost
54,500,000.00 54,500,000.00 0.00 54,500,000.00 83.85% 83.85% 0.00 0.00 0.00
Engineering Co., Ltd method
Ningxia Fuxing
Pharmaceutical Co., cost
90,000,000.00 90,000,000.00 0.00 90,000,000.00 90% 90% 0.00 0.00 0.00
Ltd under Livzon method
Group
Ningxia Xinbeijiang cost
90,000,000.00 90,000,000.00 0.00 90,000,000.00 90% 90% 0.00 0.00 0.00
Pharmaceutical Co., method
160
丽珠医药集团股份有限公司 2013 年半年度报告全文
Ltd under Livzon
Group
Wenshan Livzon
cost
Panax Notoginseng 4,694,000.00 4,694,000.00 0.00 4,694,000.00 51% 51% 0.00 0.00 0.00
method
Plantation Co., Ltd
Livzon Medical
Equity
1,200,000.00 1,200,000.00 0.00 1,200,000.00 28% 28%
Electronic Equipment 1,200,000.00 0.00 0.00
method
(Factory) Co., Ltd
Guangdong Blue
Treasure Equity
2,462,407.50 7,547,732.38 419,575.62 7,967,308.00 8.5% 8.5%
0.00 0.00 0.00
Pharmaceutical Co. method
Ltd.
Tongyikangshimei
Equity
35,000,000.00 4,743,298.84 -179,239.29 4,564,059.55 35% 35%
Chain (Shenzhen) 0.00 0.00 0.00
method
Co., Ltd
40,271,307.0
Total 1,684,969,988.73 1,700,367,506.28 51,240,336.33 1,751,607,842.61 0.00 343,750.00
3
(2) Depreciation Reserve for long-term equity investment
Transfer-
Investment Projects Withdrawal in out in this Reason for
2012/12/31 this period period 2013/6/30 Withdrawal
The net assets
Doumen Sanzhou Industry City
are less than
Co., Ltd
500,000.00 0.00 0.00 500,000.00 zero.
China Resources Bank of Zhuhai 20,000,000.0
Co., Ltd 0 0.00 0.00 20,000,000.00 Loss
The net assets
Livzon Medical Electronic
are less than
Equipment (Factory) Co., Ltd
1,200,000.00 0.00 0.00 1,200,000.00 zero.
The
Fuzhou Fuxing Pharmaceutical depreciations
Co., Ltd under Livzon Group 11,200,000.00 0.00 0.00 11,200,000.00 have occurred.
161
丽珠医药集团股份有限公司 2013 年半年度报告全文
The business
license has
been
cancelled by
the local
administration
Beijing Medical Goods Joint of industry and
Operation Company 100,000.00 0.00 0.00 100,000.00 commerce.
Xinbeijiang Pharmaceutical Co.,
Ltd under Livzon Group 7,271,307.03 0.00 0.00 7,271,307.03 Operation loss
40,271,307.0
Total 3 0.00 0.00 40,271,307.03
(3) Remarks about restriction in transferring the capitals to invested enterprises: none.
4. Operating Income and Operating Cost
(1) Operating Income and Operating Cost
Item January to June 2013 January to June 2012
Main Business income 1,010,391,794.58 857,818,013.06
Other Business income 1,172,877.27 1,139,790.64
Total of operating incomes 1,011,564,671.85 858,957,803.70
Main Business cost 415,982,757.28 409,034,502.19
Other Business cost 58,560.41 65,431.16
Total of operating costs 416,041,317.69 409,099,933.35
(2) Main business (as per the product)
January to June 2013 January to June 2012
Item Main Business Main Business Main Business Main Business
income cost income cost
Western medicine preparation 404,009,429.39 230,496,992.19 352,780,137.63 250,105,034.57
Including: Digestive tract 148,571,457.48 91,831,780.61 133,070,331.12 101,057,194.04
Cardiac and cerebral blood vessel 39,848,839.12 22,212,604.78 38,423,161.84 27,900,020.98
162
丽珠医药集团股份有限公司 2013 年半年度报告全文
Antimicrobial drugs(including the
imported drugs) 114,598,454.40 79,570,856.33 123,319,040.94 91,176,844.72
Gonadotropic hormone 1,304,516.26 1,024,558.72 943,247.60 734,006.83
Others 99,686,162.13 35,857,191.75 57,024,356.13 29,236,968.00
Chinese traditional drug preparation 606,382,365.19 185,485,765.09 505,037,875.43 158,929,467.62
Total 1,010,391,794.58 415,982,757.28 857,818,013.06 409,034,502.19
(3) Main business (as per the region)
January to June 2013 January to June 2012
Item Main Business Main Business Main Business Main Business
income cost income cost
Domestic 1,007,800,535.50 414,423,908.95 856,303,757.89 408,115,241.73
Overseas 2,591,259.08 1,558,848.33 1,514,255.17 919,260.46
Total 1,010,391,794.58 415,982,757.28 857,818,013.06 409,034,502.19
(4) Particulars about operating incomes from top 5 clients
January to June 2013 January to June 2012
Client name Percentage in the t Percentage in the to
Sales amount Sales amount
otal sales amount tal sales amount
Total of top 5 clients 125,220,929.00 12.38% 108,717,417.33 12.66%
5. Business Tax and Surtax
Item Tax rate January to June 2013 January to June 2012
City construction tax 7% 6,816,473.76 6,105,518.33
Education surtax 5% 4,868,909.82 2,578,914.64
Embankment protection cost 0.07% 303,160.71 599,412.63
Total 11,988,544.29 9,283,845.60
6. Investment returns
(1) Particulars about investment returns
Item January to June 2013 January to June 2012
163
丽珠医药集团股份有限公司 2013 年半年度报告全文
Long-term equity investment calculated by cost method 343,750.00 52,115,596.80
Long-term equity investment calculated by equity method 240,336.33 -775,324.31
Investment returns obtained by the disposal of long-term
equity investments 0.00 0.00
Investment returns obtained by the holding of tradable
financial assets 0.00 0.00
Investment returns obtained during the returns period of
investments held to the maturity date 0.00 0.00
Investment returns obtained by the holding of saleable
financial assets 0.00 151,818.90
Investment returns obtained by the disposal of tradable
financial assets 0.00 0.00
Investment returns obtained from the investments held to
the maturity date 0.00 0.00
Investment returns obtained from the saleable financial
assets 0.00 0.00
Others 0.00 0.00
Total 584,086.33 51,492,091.39
(2) Long-term equity investment returns calculated by cost method
Invested unit January to June January to June Reason for the changes
2013 2012 compared with previous
period
Ruiheng Pharmaceutical Technology
Investment Co., Ltd 343,750.00 0.00 Bonus from invested unit
Limin Pharmaceutical Co., Ltd under
Livzon Group 0.00 41,915,596.80 Bonus from subcompanies
Zhuhai Livzon Reagent Co., Ltd 0.00 10,200,000.00 Bonus from subcompanies
Total 343,750.00 52,115,596.80
(3) Long-term equity investment returns calculated by equity method
164
丽珠医药集团股份有限公司 2013 年半年度报告全文
Invested unit January to June January to June Reason for the changes
2013 2012 compared with previous
period
Guangdong Blue Treasure Returns changes of
Pharmaceutical Co. Ltd. 419,575.62 262,073.77 invested unit
Tongyikangshimei Chain (Shenzhen) Returns changes of
Co., Ltd -179,239.29 -1,037,398.08 invested unit
Total 240,336.33 -775,324.31
Remarks about investment returns: if the remittance of investment returns has the key restrictions, please specify it. If
there are no such key restrictions, please also specify it: none.
7. Supplementary Data of Cash Flow Statement of Parent Company
January to June January to June
Item 2013 2012
1. Reconciliation of net profit to cash flow from operating activities:
Net profit 62,093,211.50 70,599,090.54
Plus: Reserve for asset depreciation 2,586,122.93 9,612,273.16
Fixed asset depreciation, consumption of oil and gas assets and
production biology asset depreciation 7,594,617.04 6,137,147.07
Amortization of intangible assets 4,250,714.47 4,927,098.94
Amortization of long-term amortization expense and long-term assets 0.00 0.00
Loss in disposal of fixed assets, intangible assets and other long-term
assets (the profits will be listed beginning with "-") -281,669.95 -14,052.50
Loss in the rejection of fixed assets (the profits will be listed beginning
with "-") 935.00 0.00
Loss in the changes of fair values (the profits will be listed beginning
with "-") 0.00 0.00
Financial expense (the profits will be listed beginning with "-") 14,654,248.47 9,785,520.15
Investment loss (the profits will be listed beginning with "-") -584,086.33 -51,492,091.39
Decrease of deferred income tax assets (the increase will be listed
beginning with "-") -25,125.76 -1,387,143.91
Increase of deferred income tax liabilities (the decrease will be listed 0.00 0.00
165
丽珠医药集团股份有限公司 2013 年半年度报告全文
January to June January to June
Item 2013 2012
beginning with "-")
Decrease of inventory (the increase will be listed beginning with "-") 10,391,613.26 8,453,151.97
Decrease of receivable operating items (the increase will be listed
beginning with "-") -143,800,976.06 -69,154,890.93
Increase of payable operating items (the decrease will be listed
beginning with "-") 39,181,314.58 -77,803,217.12
Others 0.00 0.00
Net amount of cash flow from the operating activities -3,939,080.85 -90,337,114.02
2.Key investment and financing activities not involving the cash income
and payment
Transfer from liabilities to share capital 0.00 0.00
Convertible company bonds due within one year 0.00 0.00
Financing leasing of fixed assets 0.00 0.00
3.Change of cash and cash equivalents:
Cash balance at the end of period 1,237,451,812.51 797,819,129.62
Minus: cash balance at the beginning of period 1,099,218,893.89 1,306,877,982.24
Plus: cash equivalent balance at the end of period 0.00 0.00
Minus: cash equivalent balance at the beginning of period 0.00 0.00
Net increase of cash and cash equivalent 138,232,918.62 -509,058,852.62
XII. Supplementary Data
(I). Non-Recurring Profit and Loss
In accordance the No. 1 Explanatory Announcement about Information Disclosure of Companies Making
Public Offering of Securities – Non-recurring Profit and Loss(2008) (Zheng Jian Hui Gong Gao (2008)
No. 43) issued on October 31, 2008, the non-recurring profit and loss items of the company are listed as
follows:
Item January to June 2013 January to June 2012
Profit and loss in disposal of non-current assets, including the written-off
part of already withdrawn depreciation reserves 325,316.11 14,164.54
Tax rebate and exemption due to the approval without the appropriate 0.00 0.00
166
丽珠医药集团股份有限公司 2013 年半年度报告全文
authority or the formal approval documents, or the accidental tax rebate
and exemption
Governmental allowance accrued to the current profit and loss, except
those that are closely related to the normal operation businesses of
company, comply with the national policies, and are continuously
granted based on the certain standard quota or certain quantity 12,883,755.38 11,882,340.48
Capital occupancy expense from the non-financial enterprises that is
accrued to the current profit and loss 0.00 0.00
The investment costs of enterprises to obtain the subcompanies,
associated enterprises and joint enterprises are less than the returns
from the fair values of identifiable net assets of invested units that should
be available at the time of investment 0.00 0.00
Profit and loss of non-currency assets exchange 0.00 0.00
Profit and loss of investment or management of entrusted assets 0.00 0.00
The various withdrawn reserves for assets depreciation due to the force
majeures such as the natural calamities 0.00 0.00
Profit and loss of liabilities restructuring 0.00 0.00
Enterprise restructuring expenses, such as the payments for staffing and
integration expense, etc. 0.00 0.00
Profit and loss from the amount exceeding the fair values in the
transactions in which the transaction prices are obviously unfair. 0.00 0.00
The current profit and loss from the establishment date to the merger
date of subcompanies that are established by the merger of enterprises
under the same control 0.00 0.00
The profit and loss caused by the contingent events that are not related
to the normal operation business of the company 0.00 0.00
Except the effective hedge business related to the normal operation
business of the company, the profit and loss in the changes of fair values
caused by the holding of tradable financial assets and tradable financial
liabilities as well as the investment returns in disposal of tradable
financial assets, tradable financial liabilities and saleable financial assets 135,791.51 3,704,038.57
Reversion of depreciation reserves for accounts receivable whose 0.00 0.00
167
丽珠医药集团股份有限公司 2013 年半年度报告全文
depreciation testing have been individually made.
Profit and loss from the externally entrusted loans 0.00 0.00
Profit and loss caused by the changes of fair values of invested real
estates in the subsequent calculation by utilizing fair value mode 0.00 0.00
Effect of the one-time adjustment of the current profit and loss in
accordance with the requirements of laws and regulations concerning
the taxes and accounting, etc. on the current profit and loss 0.00 0.00
Custody income due to the entrusted custody 0.00 0.00
Other net non-operating income and payment except the above items 367,300.32 439,193.38
Other profit and loss items that comply with the definition for
non-operating profit and loss 0.00 0.00
Subtotal 13,712,163.32 16,039,736.97
Minus: effect of income tax 2,189,657.60 2,610,225.29
Effect of the minority of shareholders’ equities 593,262.42 2,405,339.64
Total 10,929,243.30 11,024,172.04
(II)Yield Rate of Net Assets and Profit Per Share
Profit per share (Yuan/share)
Weighted average
Profit in the report period Profit per share after
yield rate of net asset
Basic profit per share dilution
Net profit attributable to the
ordinary shareholders 8.27% 0.88 0.88
Net profit attributable to the
ordinary shareholders after
deduction of non-recurring profit
and loss 7.92% 0.84 0.84
(III) Remars about abnormality and reason of main accounting statement items of company
Balance on June Balance on June
30, 2013 or 30, 2012 or
Change
Statement items amount from amount from Reasons for changes
ratio
January to June January to June
2013 2012
168
丽珠医药集团股份有限公司 2013 年半年度报告全文
Items in balance sheet:
Tradable financial The main reason is the sales of some
11,477,809.46 59,319,616.94 -80.65%
assets stocks in this period.
The main reason is the increase of
payments for goods in the settlement
157,099,114.13 112,482,782.18 39.67%
mode of bank acceptance drafts in this
Notes receivable period.
The main reason is the increase of
investments in the equipment of
Engineering under Ningxia Base Project, “relocation
1,581,479,104.43 1,028,769,050.48 53.73%
construction project of new factory” and Limin
Pharmaceutical Co., Ltd under Livzon
Group.
The main reason is that the
development expenses that comply
with the capitalization conditions are
Development transferred to the intangible assets,
212,866.16 1,510,153.51 -85.90%
payments and the development expenses that
do not comply with the capitalization
conditions are accrued to the profit
and loss.
The main reason is that, with the
increase of purchase, the income
Payable taxes 57,240,471.42 96,658,310.36 -40.78% amount of deductible VAT increases,
which leads to the decrease of
payable VAT.
The main reason is that the short-term
Interests payable 20,780,088.52 10,454,004.86 98.78% financing bonds are due and paid on
July 9, 2013.
In the 2012 annual Shareholders’
Meeting held on June 21, 2013, the
Dividends payable 150,392,910.46 2,531,984.46 5,839.72%
company examined and passed the
2012 Profit Distribution Plan: the
169
丽珠医药集团股份有限公司 2013 年半年度报告全文
Company distributed a total bonus of
RMB 147,860,926.00 Yuan.
The main reason is the increase of
long-term financing to meet the capital
Long-term loans 150,700,000.00 700,000.00 21,428.57%
demands of engineering construction
and technical improvement, etc.
On May 29, 2013, the company issued
Bonds payable 400,000,000.00 0.00 RMB 400 million Yuan of
medium-term bills.
The main reason is the increase of
Equities of the minority
34.49% capitals invested by the minority of
of shareholders 231,463,527.41 172,103,440.01
shareholders.
Items in Profit
Statement and Cash
Flow Statement:
The main reason is the sales of some
returns from the stocks in this period as well as the
-1,242,332.26 2,114,503.89 -158.75%
changes of fair values decrease of market value of stocks at
the end of period.
The main reason is the improvement
of performances of associated
Investment returns 3,086,974.76 1,731,468.57 78.29% enterprises and the increase of
investment returns calculated in the
equity method.
non-operating The main reason is the increase of
1,462,423.58 224,395.39 551.72%
payments donation payment in this period.
The main reason is the increase of
purchase payments in this period; with
Net cash flow from the increase of operation
-44.60%
ooperating activities 185,831,023.54 335,416,385.94 performance, the salary levels of staffs
increase, and the salaries paid to the
staffs also increase.
170
丽珠医药集团股份有限公司 2013 年半年度报告全文
The main reason is the issuing of RMB
400 million Yuan of medium-term bills,
as well as the borrowing of capitals
Net cash flow from
216.46% from the financial institutions (after
financing activities 547,516,524.88 -470,114,776.18
deduction of repayments) and
increase of capitals invested by the
minority of shareholders.
XIII. Approval of Financial Statement
This financial statement is passed and issued by the Board of Directiors on August 26, 2012.
Company name：Livzon Pharmaceutical Group Inc.
Principal of the Company: Zhu Principal of the Financial Principal of the Accounting
Baoguo Department: An Ning Department: Si Yanxia
171
丽珠医药集团股份有限公司 2013 年半年度报告全文
Section IX: Catalog of Files for Reference
1 The 2013 semi-annual report with the signature of chairman.
2 The original financial reports with signature of legal representative, principal of
Financial Department and principal of Accounting Department.
3. All original files and announcement manuscript that have been published in
Securities Times, China Securities Journal and Hongkong Wenhui Daily (English
version) and Juchao website during the report period.
172
