First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
Security code: 000963 Stock abbreviation: Huadong Medicine Announcement No.: 2024-041
Huadong Medicine Co., Ltd.
First Quarterly Report 2024
The Company and all members of the Board of Directors hereby guarantee that the information presented
in this report is authentic, accurate and complete and free of any false records, misleading statements or material
omissions.
Important Declaration:
Medicine Co., Ltd. (hereinafter referred to as the "Company") hereby guarantee that the information presented
in this report is authentic, accurate and complete and free of false records, misleading statements or material
omissions, and shall undertake individual and joint legal liabilities.
department (accounting supervisor) hereby declare that the financial information in this quarterly report is
authentic, accurate and complete.
□Yes ?No
According to “Stock Listing Rules of the Shenzhen Stock Exchange”, if listed companies have both Chinese
and other language version of public notice, they should ensure the content of both versions are the same. In the
case of discrepancy, the original version in Chinese shall prevail.
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
I. Key Financial Data
(I) Key accounting data and financial indicators
Does the Company need to retroactively adjust or restate the accounting data of previous years?
□Yes ?No
Increase or decrease during the
Current reporting period Same period last year current reporting period compared
with the same period of last year (%)
Operating revenue (RMB) 10,410,809,128.72 10,114,531,331.77 2.93%
Net profit attributable to
shareholders of the listed 862,411,560.96 755,284,976.47 14.18%
company (RMB)
Net profit attributable to
shareholders of the listed
company after deduction of 838,303,551.41 757,542,618.01 10.66%
non-recurring profits and
losses (RMB)
Net cash flow from operating
-484,522,666.13 -246,152,770.16 -96.84%
activities (RMB)
Basic earnings per share
(RMB/share)
Diluted earnings per share
(RMB/share)
Weighted average return on
equity
Increase or decrease at the end of the
End of the current
End of the last year current reporting period compared
reporting period
with the end of the last year (%)
Total assets (RMB) 34,467,844,280.37 33,509,361,816.98 2.86%
Owners' equity attributable to
shareholders of listed 21,955,243,888.90 21,047,609,756.66 4.31%
companies (RMB)
(II) Non-recurring profit and loss items and amounts
?Applicable □Not applicable
Unit: RMB
Item Amount during the current reporting period Description
Profit and loss on disposal of non-current assets (including
the write-off of provision for impairment of assets)
Government grants included in the current profits and
losses (except those that are closely related to the normal
business operation of the Company, comply with national
policies and regulations, are enjoyed in accordance with the
defined criteria, and have a lasting impact on the
Company's profits and losses)
Profits and losses from changes in fair value arising from
financial assets and financial liabilities held by non-
financial corporations, and profits and losses from the
-25,364.49
disposal of financial assets and liabilities, except for the
effective hedging business related to the normal business
operation of the Company
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
Other non-operating revenue and expenses other than those
-1,436,525.67
mentioned above
Minus: Amount affected by income tax 4,281,616.36
Amount affected by minority interests (after tax) 491,858.39
Total 24,108,009.55 --
Details of other profit and loss items conforming to the definition of non-recurring profits and losses
□Applicable ?Not applicable
The Company has no other specific circumstances of profit and loss items that meet the definition of non-recurring profits and
losses.
An explanation of the fact that the non-recurring profit and loss items listed in the Explanatory Announcement No.1 on
Information Disclosure by Companies that Offer Securities to the Public - Non-recurring Profits and Losses are defined as
recurring profit and loss items
□Applicable ?Not applicable
The Company did not define the non-recurring profit and loss items listed in the Explanatory Announcement No.1 on Information
Disclosure by Companies that Offer Securities to the Public - Non-recurring Profits and Losses as recurring profit and loss items.
(III) Details and reasons for changes in key accounting data and financial indicators
?Applicable □Not applicable
Amount at the Amount at the
Percentage
Items in the balance sheet end of the beginning of the
change
period period Reasons for changes
Mainly attributable to the decrease in
Notes receivable 0.00 681.21 -100.00% commercial acceptance bills receivable
during the current period
Mainly attributable to discounting of bank
Receivables financing 84,325.79 143,436.63 -41.21%
acceptance bills during the current period
Mainly attributable to an increase in
Other accounts receivable 47,383.63 29,113.51 62.75%
provisional payment receivable
Mainly attributable to an increase in loans
Short-term borrowings 108,359.71 82,238.03 31.76%
during the current period
Mainly attributable to a decrease in rental
Advance receipts 40.52 139.36 -70.92%
received in advance
Employee compensation Mainly attributable to remuneration paid
payable during the current period
Mainly attributable to the payment of long-
Non-current liabilities due term payables and long-term borrowings
within one year due within one year during the current
period
Mainly attributable to additional leases
Lease liabilities 8,300.63 5,669.52 46.41%
during the current period
Mainly attributable to the transfer of
Long-term accounts
payable
current liabilities due within one year
Other comprehensive Mainly attributable to an increase in
income foreign currency translation differences
Items in the profit Amount in the Amount in the Percentage
Reasons for changes
statement current period previous period change
Mainly attributable to an increase in net
Financial expenses 755.50 2,915.08 -74.08%
interest income
Mainly attributable to an increase in
Other income 3,831.17 1,458.25 162.72%
revenue-related government grants
Proceeds from disposal of Mainly attributable to an increase in
assets proceeds from disposal of fixed assets
Items in the cash flow Amount in the Amount in the Percentage Reasons for changes
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
statement current period previous period change
Mainly attributable to the increase in
Net cash flow from
-48,452.27 -24,615.28 -96.84% purchases of goods and cash paid to
operating activities
employees
Net cash flows from Mainly attributable to added investment
-70,737.61 -44,005.53 -60.75%
investing activities during the current period
Net cash flow from Mainly attributable to the year-on-year
financing activities increase in loans during the current period
II. Shareholder Information
(I) Total number of common shareholders, number of preferred shareholders with restored voting rights
and shareholdings of top 10 shareholders
Unit: Shares
Total number of preferred shareholders with restored
Total number of common shareholders
at the end of the reporting period
any)
Shareholdings of top 10 shareholders (excluding shares lent through refinancing)
Number of Pledged, marked or locked-up
Shareholdi
Name of Nature of Number of shares held status
ng ratio
shareholder shareholder shares held with restricted
(%) Status of shares Quantity
sale conditions
Domestic non-
China Grand
state-owned 41.66% 730,938,157.00 0.00 Pledged 147,070,000.00
Enterprises, INC.
legal person
Hangzhou Huadong
State-owned
Medicine Group 16.42% 288,000,000.00 0.00 Not applicable 0.00
legal person
Co., Ltd.
Hong Kong
Overseas legal
Securities Clearing 2.75% 48,286,883.00 0.00 Not applicable 0.00
person
Company Limited
China Securities Domestic non-
Finance Corporation state-owned 1.26% 22,186,818.00 0.00 Not applicable 0.00
Limited legal person
Industrial and
Commercial Bank
of China Limited -
Zhong Ou AMC Others 1.15% 20,099,373.00 0.00 Not applicable 0.00
Medical and Health
Hybrid Securities
Investment Fund
China Construction
Bank Corporation -
E Fund CSI 300
Medical and Health Others 0.72% 12,696,732.00 0.00 Not applicable 0.00
Trading Open Index
Securities
Investment Fund
China Construction
Bank Corporation -
ICBC Credit Suisse Others 0.68% 12,000,000.00 0.00 Not applicable 0.00
Frontier Medical
Equity Securities
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
Investment Fund
National Social
Security Fund - Others 0.63% 10,983,604.00 0.00 Not applicable 0.00
Portfolio 110
Industrial and
Commercial Bank
of China Limited -
Others 0.54% 9,494,245.00 0.00 Not applicable 0.00
Huatai-PB CSI 300
Open-ended Index
Fund
China Life
Insurance (Group)
Company -
Traditional - Others 0.50% 8,819,214.00 0.00 Not applicable 0.00
General Insurance
Products - 005L-
CT001 Shanghai
Shareholdings of the top 10 shareholders without restricted sales conditions
Number of shares held without restricted sale Type of shares
Name of shareholder
conditions Type of shares Quantity
RMB-
China Grand Enterprises, INC. 730,938,157.00 denominated 730,938,157.00
ordinary share
RMB-
Hangzhou Huadong Medicine Group
Co., Ltd.
ordinary share
RMB-
Hong Kong Securities Clearing
Company Limited
ordinary share
RMB-
China Securities Finance Corporation
Limited
ordinary share
Industrial and Commercial Bank of
RMB-
China Limited - Zhong Ou AMC
Medical and Health Hybrid Securities
ordinary share
Investment Fund
China Construction Bank Corporation -
RMB-
E Fund CSI 300 Medical and Health
Trading Open Index Securities
ordinary share
Investment Fund
China Construction Bank Corporation - RMB-
ICBC Credit Suisse Frontier Medical 12,000,000.00 denominated 12,000,000.00
Equity Securities Investment Fund ordinary share
RMB-
National Social Security Fund -
Portfolio 110
ordinary share
Industrial and Commercial Bank of RMB-
China Limited - Huatai-PB CSI 300 9,494,245.00 denominated 9,494,245.00
Open-ended Index Fund ordinary share
China Life Insurance (Group) Company RMB-
- Traditional - General Insurance 8,819,214.00 denominated 8,819,214.00
Products - 005L-CT001 Shanghai ordinary share
Description of affiliation or concerted action of the The Company did not know whether there was any relationship among
above shareholders the above shareholders, or whether they were parties acting in concert.
As of the end of the current reporting period, none of the top 10 common
Description of the participation in securities margin
shareholders of the Company held shares of the Company through
trading business of top 10 shareholders (if any)
securities margin trading accounts.
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
Participation in the lending of shares through refinancing business of shareholders holding more than 5% of shares, top 10
shareholders and top 10 shareholders holding tradable shares without restricted sale conditions
?Applicable □Not applicable
Unit: Shares
Participation in the lending of shares through refinancing business of shareholders holding more than 5% of shares, top 10
shareholders and top 10 shareholders holding tradable shares without restricted sale conditions
Shares held in ordinary Shares lent through Shares lent through
Shares held in ordinary
accounts and credit refinancing and not yet refinancing and not yet
accounts and credit accounts
Name of accounts at the beginning returned at the returned at the end of
at the end of the period
shareholder of the period beginning of the period the period
(full name) Total Proportion Total Proportion Total Proportion Total Proportion
number of in share number in share number of in share number in share
shares capital of shares capital shares capital of shares capital
China Grand
Enterprises, 730,938,157 41.66% 0 0.00% 730,938,157 41.66% 0 0.00%
INC.
Hangzhou
Huadong
Medicine 288,000,000 16.42% 0 0.00% 288,000,000 16.42% 0 0.00%
Group Co.,
Ltd.
Hong Kong
Securities
Clearing 47,954,932 2.73% 0 0.00% 48,286,883 2.75% 0 0.00%
Company
Limited
China
Securities
Finance 22,186,818 1.26% 0 0.00% 22,186,818 1.26% 0 0.00%
Corporation
Limited
Industrial and
Commercial
Bank of China
Limited -
Zhong Ou
AMC Medical 31,080,515 1.77% 0 0.00% 20,099,373 1.15% 0 0.00%
and Health
Hybrid
Securities
Investment
Fund
China
Construction
Bank
Corporation -
E Fund CSI
and Health
Trading Open
Index
Securities
Investment
Fund
China 19,000,000 1.08% 0 0.00% 12,000,000 0.68% 0 0.00%
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
Construction
Bank
Corporation -
ICBC Credit
Suisse
Frontier
Medical
Equity
Securities
Investment
Fund
National
Social
Security Fund
- Portfolio 110
Industrial and
Commercial
Bank of China
Limited -
Huatai-PB
CSI 300
Open-ended
Index Fund
China Life
Insurance
(Group)
Company -
Traditional -
General
Insurance
Products -
Shanghai
Change in top 10 shareholders and top 10 shareholders holding tradable shares without restricted sale conditions due to
lending/returning of shares through refinancing as compared to the previous period
?Applicable □Not applicable
Unit: Shares
Changes in top 10 shareholders and top 10 shareholders holding tradable shares without restricted sale conditions due to
lending/returning of shares through refinancing as compared to the previous period
Number of shares held in shareholders'
Addition/with Number of shares lent through
ordinary accounts and credit accounts
drawal during refinancing and not yet returned at the
Name of shareholder and shares lent through refinancing and
the current end of the period
(full name) not yet returned at the end of the period
reporting
period Total number of Proportion in share Total number of Proportion in share
shares capital shares capital
Industrial and
Commercial Bank of
China Limited - Huatai- Addition 4,600 0.00% 9,498,845 0.54%
PB CSI 300 Open-
ended Index Fund
China Life Insurance
(Group) Company -
Traditional - General Addition 0 0.00% 8,819,214 0.50%
Insurance Products -
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
New China Life
Insurance Co., Ltd. -
Traditional - General Withdrawal 0 0.00% 6,920,836 0.39%
Insurance Products -
Bank of Shanghai Co.,
Ltd. - Yinhua CSI
Innovative
Pharmaceutical Industry Withdrawal 0 0.00% 7,318,298 0.42%
Traded Open-ended
Index Securities
Investment Fund
(II) Total number of preferred shareholders and shareholding list of top 10 preferred shareholders of the
Company
□Applicable ?Not applicable
Ⅲ. Other Important Matters
?Applicable □Not applicable
(I) Overview of the Company's overall operations during the reporting period
In 2024, the reform of the domestic pharmaceutical industry continued to be expanded, which,
coupled with market competition, drove the intensification of the differentiation of pharmaceutical
enterprises. By focusing on the overall strategic planning and annual business objectives, the
Company actively promoted the implementation of various operational management work, and
achieved a good start in the first quarter. During the reporting period, the Company achieved
operating income in the amount of RMB 10.411 billion, up 2.93% year-on-year; net profit
attributable to parent company in the amount of RMB 862 million, up 14.18% year-on-year; net
profit attributable to the parent company after deducting non-recurring profits and losses in the
amount of RMB 838 million, up 10.66% year-on-year; and realized a positive growth in operating
income and net profit compared with the fourth quarter of 2023. After deducting the equity
incentive expenses and the profits and losses of participating and holding R&D institutions, net
profit attributable to shareholders of the listed company upon deduction of non-recurring profits and
losses during the reporting period was amounted to RMB 928 million, representing an increase of
deduction of non-recurring profits and losses in the first quarter of 2023.
During the reporting period, the overall operation of the core subsidiary Zhongmei Huadong
continued to maintain a stable growth trend, achieved operating income (including CSO business)
in the amount of RMB 3.399 billion, showing a year-on-year increase of 10.53%; and achieved
consolidated net profit attributable to the parent company in the amount of RMB 751 million, with a
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
year-on-year increase of 11.67%.
During the reporting period, the Company's pharmaceutical business segment achieved an
overall operating income of RMB 6.717 billion, down 1.86% year-on-year, and a net profit of RMB
pharmaceutical business segment was mainly affected by the higher base in the first quarter of
the second quarter.
The Company's aesthetic medicine business continued to maintain a good growth momentum
during the reporting period. Its aesthetic medicine segment realized a consolidated operating
income of RMB 630 million (excluding internal offsets), representing a year-on-year increase of
market, realized a consolidated operating income of approximately RMB 272 million during the
reporting period. Due to fluctuations in demands caused by the impact of the slowdown in global
macro-economic growth, it underwent a year-on-year decline of 4.40%, with the overall income
reaching the operating target for the first quarter. Growth rate is expected to gradually pick up from
the second quarter. Sinclair (Shanghai), a wholly-owned subsidiary engaging in domestic aesthetic
medicine, was actively expanding the domestic market. During the reporting period, it achieved
operating income of RMB 257 million, representing a year-on-year increase of 22.65%, and a
quarter-on-quarter increase of 13.38% compared with the fourth quarter of 2023.
During the reporting period, the income of the Company's industrial microbiology business
maintained a stable growth, up 23.00% year-on-year. Subsequently, along with the active expansion
of the overseas market, increasing online and offline marketing promotion for the domestic animal
health business and the launching of products of Hubei Magic Health, it is expected that the growth
of industrial microbiology business will accelerate.
(II) Important R&D progress of the Company during the reporting period
During the reporting period, the Company accelerated its R&D efforts and continued to
increase its R&D investment. The Company's R&D investment in the pharmaceutical industry
(excluding equity investment) amounted to RMB 588 million during the reporting period, of which,
direct R&D expenditure amounted to RMB 349 million, representing a year-on-year increase of
milestones. The main progress is described as follows:
Rilonacept (ARCALYST®) for injection, a global innovative product introduced from Kiniksa,
USA, was accepted in March 2024;
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
target, long-acting peptide agonist product independently developed by the Company, intended for
weight management among overweight or obese people and for Type 2 diabetes, was approved in
March 2024. The first subject was enrolled and administered in the phase Ia clinical study in China
in March 2024. In addition, the US IND application of HDM1005 for overweight or obesity
indications was approved in April 2024;
developed by the Company and intended for the treatment of advanced solid tumors and
hematological tumors, was submitted and accepted in March 2024;
Soravtansine Injection), an ADC drug intended for the treatment of platinum-resistant ovarian
cancer, has been converted from accelerated approval to full approval in the United States. In April
ovarian cancer) Phase III clinical study, to promote this product for the frontline treatment of
ovarian cancer. It is being developed as maintenance therapy for the treatment of subjects with
recurrent platinum-sensitive, epithelial ovarian, primary peritoneal, or fallopian tube cancers with
positive folate receptor alpha (FRα) in combination with bevacizumab;
in conjunction with a glomerular filtration rate dynamic monitoring system, was accepted in
January 2024;
name: Saikaize®, R&D code: CT053), has received notification from the National Medical
Products Administration (NMPA) that it has been granted conditional approval for the treatment of
adult patients with relapsed or refractory multiple myeloma, who have previously progressed after
at least 3 lines of therapy (including a proteasome inhibitor and immunomodulator agent). The
Company was granted the exclusive right to commercialize zevorcabtagene autoleucel in mainland
China, and has set up a dedicated commercialization team. The first prescription was issued on the
day when such product was approved for marketing.
In addition, the Company's generic drug registration was proceeded as planned. Tacrolimus
Extended-Release Capsules with a specification of 5mg were approved by the NMPA for marketing
in February 2024.
During the reporting period, the Company continued to promote the registration and
implementation of key aesthetic medicine in China:
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
containing sodium hyaluronate for injection, successfully reached the primary study endpoint and
showed good product safety data. The application for registration of this product as a Class III
medical device in China has recently been accepted;
botulinum toxin) and YY001 (Type A recombinant botulinum toxin), which were introduced by the
Company in cooperation with South Korea ATGC and Chongqing Claruvis, have made significant
progress respectively: the marketing application of ATGC-110 has been accepted by the Ministry of
Food and Drug Safety (MFDS) of Korea. The declared indication is to improve the moderate to
severe frown lines between eyebrows among adult patients. YY001 has completed the enrollment of
Phase III clinical subjects in China.
(III) Other important matters
The Company held the 20th Meeting of the 10th Session of the Board of Directors on February
Intelligent Manufacturing Center Project, which agreed that Hangzhou Zhongmei Huadong
Pharmaceutical Co., Ltd., a wholly-owned subsidiary of the Company, would invest in construction
of the Bio-Innovation and Intelligent Manufacturing Center Project in accordance with its own
development plan and new product launch plan. The total investment amount of this project is
expected to be RMB 2 billion. This project would be carried out in stages. The investment amount
of Phase I is about RMB 1.188 billion (the final investment amount is subject to the actual
investment expenditure of the project construction) (for details, please refer to the relevant
announcements disclosed by the Company at www.cninfo.com.cn, with the Announcement No.:
(IV) Registration form of receptions, including research, communication, interview
and other activities during the reporting period
Main topics
Reception Reception Receptio Reception Reception discussed and Basic information
date location n mode object type object information index of the survey
provided
For details, please
refer to the Record
New China
Sheet of Investor
Site Asset
Relations Activities
January 9 Meeting survey Management, Investor
on January 9 and
and 10, room of the and Institution Industrial communicatio
by the Company at
meeting Guotai Junan
https://irm.cninfo.co
Securities, etc.
m.cn/ and at
www.cninfo.com.cn.
January 16 Meeting On-site Haitong Investor For details, please
Institution
and 17, room of the survey Securities, communicatio refer to the Record
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
Management, Relations Activities
SWS MU on January 16 and
Fund, etc. 17, 2024 published
by the Company at
https://irm.cninfo.co
m.cn/ and at
www.cninfo.com.cn.
For details, see the
Soochow Exchange
Record Sheet of
Securities, Meeting for
Investor Relations
Zhong Ou Launching
Activities on March
Meeting Institutions Asset New Drug
March 4, Online 4, 2024, which was
room of the and Management, Saikaize® of
Company individuals Perseverance Huadong
Company at
Asset Medicine and
https://irm.cninfo.co
Management, CARsgen
m.cn/ and at
etc. Therapeutics
www.cninfo.com.cn.
For details, see the
Record Sheet of
Performance Activities on April
Meeting Institutions CICC, China
April 18, Online Exchange 18, 2024, which was
room of the and Securities, TF
Company individuals Securities, etc.
Huadong Company at
Medicine https://irm.cninfo.co
m.cn/ and at
www.cninfo.com.cn.
IV. Quarterly Financial Statements
(I) Financial statements
Prepared by: Huadong Medicine Co., Ltd.
March 31, 2024
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 3,563,064,869.46 4,663,378,011.64
Deposit reservation for balance
Lendings to banks and other financial institutions
Trading financial assets
Derivative financial assets 16,409,129.45 16,434,493.97
Notes receivable 6,812,089.97
Accounts receivable 9,677,692,232.29 7,455,250,690.83
Receivables financing 843,257,932.30 1,434,366,300.69
Prepayments 362,069,336.43 279,207,655.40
Premium receivable
Reinsurance accounts receivable
Reinsurance contract reserve receivable
Other accounts receivable 473,836,282.59 291,135,104.33
Including: Interest receivable
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
Dividends receivable 2,623,608.84 2,623,608.84
Financial assets purchased for resale
Inventory 4,224,074,951.91 4,290,214,266.03
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 51,878,760.17 59,881,757.08
Total current assets 19,212,283,494.60 18,496,680,369.94
Non-current assets:
Loans and advances issued
Debt investments
Other debt investments
Long-term receivables
Long-term equity investment 1,529,526,141.05 1,535,907,809.85
Investment in other equity instruments 565,223,872.68 565,223,872.68
Other non-current financial assets
Investment real estate 12,485,783.85 12,746,181.87
Fixed assets 4,050,202,967.46 4,140,144,817.51
Works in progress 927,713,584.81 913,147,212.17
Productive biological assets
Oil and gas assets
Right-of-use assets 139,021,674.64 151,175,007.16
Intangible assets 2,527,437,482.39 2,333,787,357.62
Including: Data resources
Development expenses 1,068,480,143.55 992,532,091.86
Including: Data resources
Goodwill 2,596,809,693.91 2,598,696,062.31
Long-term unamortized expenses 19,291,856.38 20,053,854.34
Deferred income tax assets 187,808,574.44 187,808,574.44
Other non-current assets 1,631,559,010.61 1,561,458,605.23
Total non-current assets 15,255,560,785.77 15,012,681,447.04
Total assets 34,467,844,280.37 33,509,361,816.98
Current liabilities:
Short-term borrowings 1,083,597,089.07 822,380,292.37
Borrowings from the central bank
Borrowings from other banks and other financial institutions
Trading financial liabilities
Derivative financial liabilities
Notes payable 1,437,934,424.82 1,727,420,960.30
Accounts payable 4,326,094,692.22 4,374,832,979.95
Advance receipts 405,231.33 1,393,551.48
Contract liabilities 170,289,424.40 135,459,275.17
Expense for financial assets sold for repurchase
Deposits from customers and interbank
Receivings from vicariously traded securities
Receivings from vicariously underwriting securities
Employee compensation payable 215,396,862.69 359,148,474.25
Taxes and dues payable 547,143,131.41 489,385,055.57
Other accounts payable 2,910,002,629.17 2,518,621,382.87
Including: Interests payable
Dividends payable 143,024,219.60 143,024,219.60
Fees and commissions payable
Reinsurance accounts payable
Liabilities held for sale
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
Non-current liabilities due within one year 209,413,662.46 359,342,623.38
Other current liabilities 18,040,693.69 14,621,494.85
Total current liabilities 10,918,317,841.26 10,802,606,090.19
Non-current liabilities:
Reinsurance contract reserves
Long-term borrowings 519,383,524.08 520,759,460.07
Bonds payable
Including: Preferred share
Perpetual bonds
Lease liabilities 83,006,313.46 56,695,158.59
Long-term accounts payable 24,805,289.23 107,251,248.59
Long-term employee compensation payable
Estimated liabilities 38,460,444.39 37,184,074.06
Deferred income 167,391,739.98 171,056,435.34
Deferred income tax liabilities 182,493,233.05 184,373,974.04
Other non-current liabilities 46,192,650.00 47,170,650.00
Total non-current liabilities 1,061,733,194.19 1,124,491,000.69
Total liabilities 11,980,051,035.45 11,927,097,090.88
Owners’ equity:
Share capital 1,754,327,548.00 1,754,425,348.00
Other equity instruments
Including: Preferred share
Perpetual bonds
Capital reserve 2,448,599,611.00 2,446,313,774.82
Minus: Treasury stock 82,074,369.07 84,519,369.07
Other comprehensive income 247,990.92 -40,341,544.18
Special reserves
Surplus reserves 1,277,779,972.18 1,277,779,972.18
General risk reserves
Undistributed profit 16,556,363,135.87 15,693,951,574.91
Total owners' equity attributable to the parent company 21,955,243,888.90 21,047,609,756.66
Minority interests 532,549,356.02 534,654,969.44
Total owners’ equity 22,487,793,244.92 21,582,264,726.10
Total liabilities and owners’ equity 34,467,844,280.37 33,509,361,816.98
Legal Representative: Lv Liang Officer In Charge of Accounting: Lv Liang Head of Accounting Department: Qiu Renbo
Unit: RMB
Item Amount incurred in the current period Amount incurred in the previous period
I. Total operating revenue 10,410,809,128.72 10,114,531,331.77
Including: Operating revenue 10,410,809,128.72 10,114,531,331.77
Interest revenue
Premiums earned
Fees and commissions revenue
II. Total operating costs 9,331,357,509.92 9,111,221,456.77
Including: Operating costs 7,076,397,110.06 6,790,724,204.77
Interest expense
Fees and commissions expenditures
Surrender value
Net payments for insurance claims
Net provision for insurance
liabilities
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
Policy dividend expenditures
Reinsurance expenses
Taxes and surcharges 56,334,556.14 53,150,033.98
Selling expenses 1,574,261,928.29 1,642,616,610.16
Management expenses 335,169,160.39 330,086,070.32
R&D expenses 281,639,751.64 265,493,695.70
Financial expenses 7,555,003.40 29,150,841.84
Including: Interest expense 23,050,131.41 34,466,716.93
Interest revenue 24,409,865.24 12,491,377.82
Plus: Other incomes 38,311,729.18 14,582,456.30
Investment income (loss expressed
-47,163,448.93 -61,752,708.66
with “-”)
Including: Investment income in
-37,504,466.74 -52,816,907.73
associates and joint ventures
Income from
derecognition of financial assets measured on
the basis of amortization costs
Exchange earnings (loss expressed
with “-”)
Net income of exposure hedge (loss
expressed with “－”)
Income from changes in fair value
-25,364.49
(loss expressed with “-”)
Credit impairment loss (loss
expressed with “-”)
Asset impairment loss (loss expressed
with “-”)
Proceeds from disposal of assets (loss
expressed with “-”)
III. Operating profit (loss expressed with “-”) 1,072,095,809.87 953,939,762.93
Plus: Non-operating incomes 1,295,600.39 1,389,195.74
Minus: Non-operating expenses 5,202,610.91 6,049,187.60
IV. Total profit (total loss expressed with “-”) 1,068,188,799.35 949,279,771.07
Minus: Income tax expense 207,943,278.46 189,354,280.74
V. Net profit (net loss expressed with “-”) 860,245,520.89 759,925,490.33
(I) Classification by continuity of operation
(net loss expressed with “-”)
operations (net loss expressed with “-”)
(II) Classification by ownership
the parent company
VI. Net of tax of other comprehensive income 40,589,535.10 -31,351,409.53
Net of tax of other comprehensive income
attributable to the owner of the parent 40,589,535.10 -31,351,409.53
company
(I) Other comprehensive income that
cannot be reclassified into the profits and 693,671.15
losses
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
defined benefit plan
cannot be included in the profits and losses
under the equity method
in other equity instruments
enterprise’s credit risks
(II) Other comprehensive income that
can be reclassified into the profits and losses
can be transferred to the profit and loss under
the equity method
investments in other debt investments
other comprehensive income
other debt investments
currency financial statements
Net of tax of other comprehensive income
attributable to minority shareholders
VII. Total Comprehensive Income 900,835,055.99 728,574,080.80
Total comprehensive income attributable to
the owner of the parent company
Total comprehensive income attributable to
-2,166,040.07 4,640,513.86
minority shareholders
VIII. Earnings per share:
(I) Basic earnings per share 0.4929 0.4316
(II) Diluted earnings per share 0.4928 0.4315
If there is a business combination under common control in this period, the net profit of the combined party before the
combination is RMB 0.00, and the net profit of the combined party in the previous period is RMB 0.00.
Legal Representative: Lv Liang Officer In Charge of Accounting: Lv Liang Head of Accounting Department: Qiu Renbo
Unit: RMB
Item Amount incurred in the current period Amount incurred in the previous period
I. Cash flows from operating activities:
Cash received from selling goods and
providing services
Net increase in deposits from customers
as well as banks and other financial
institutions
Net increase in borrowings from the
central bank
Net increase in borrowings from other
financial institutions
Cash received from the original
insurance contract premium
Net cash received from reinsurance
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
business
Net increase in savings and investment
funds of policyholders
Cash for interest, fees and commissions
Net increase in borrowings from banks
and other financial institutions
Net increase in funds from repurchase
business
Net cash received from securities trading
agency
Refund of taxes and fees received 3,909,537.24 1,207,680.51
Other cash received related to business
activities
Subtotal of cash inflow from operating
activities
Cash paid for purchases of goods and
services
Net increase in customer loans and
advance payments
Net increase in deposits with the central
bank and interbank
Cash for payment of the original
insurance contract
Net increase in lendings to banks and
other financial institutions
Cash for interest, handling fees and
commissions
Cash for payment of dividends on
policies
Cash paid to and for employees 1,232,560,542.55 845,672,966.99
Various taxes and fees paid 606,028,807.91 609,699,664.95
Payment of other cash related to business
activities
Subtotal of cash outflows from operating
activities
Net cash flow from operating activities -484,522,666.13 -246,152,770.16
II. Cash flows arising from investment
activities:
Cash received from investment recovery 1,000,000.00
Cash received from obtaining investment
income
Net cash recovered from disposal of
fixed assets, intangible assets and other 2,328,201.94 149,204.89
long-term assets
Net cash received from disposal of
subsidiaries and other business units
Other cash received related to investment
activities
Subtotal of cash inflows from investing
activities
Cash paid for the purchase and
construction of fixed assets, intangible 472,272,778.22 398,081,956.46
assets and other long-term assets
Cash paid for investment 65,861,678.42 51,794,250.00
First Quarterly Report 2024 of Huadong Medicine Co., Ltd.
Net increase in pledged loans
Net cash paid for acquisition of
subsidiaries and other business entities
Payments of other cash related to
investing activities
Subtotal of cash outflows from investing
activities
Net cash flows from investing activities -707,376,124.89 -440,055,312.86
III. Cash flows arising from financing
activities:
Cash received by absorbing investment
Including: Cash received by
subsidiaries from minority shareholders'
investment
Cash received from obtaining loans 1,510,044,486.23 907,116,269.61
Other cash received related to financing
activities
Subtotal of cash inflows from financing
activities
Cash paid for debt repayment 1,202,198,901.63 1,652,722,088.75
Cash paid to distribute dividends, profits
or pay interest
Including: Dividends and profits paid
by subsidiaries to minority shareholders
Payment of other cash related to
financing activities
Subtotal of cash outflows from financing
activities
Net cash flow from financing activities 71,496,267.49 -849,412,643.67
IV. Impact of exchange rate changes on
cash and cash equivalents
V. Net increase in cash and cash equivalents -1,103,010,069.37 -1,531,091,755.18
Plus: Opening balance of cash and cash
equivalents
VI. Closing balance of cash and cash
equivalents
(II) Situation of relevant items of financial statements at the beginning of the current
year after the initial implementation of adjustment of the New Accounting Standards in
□Applicable ?Not applicable
(III) Audit report
Has the First Quarterly Report been audited?
□Yes ?No
The First Quarterly Report of the Company has not been audited.
Board of Directors of Huadong Medicine Co., Ltd.
April 26, 2024
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