China National Accord Medicines Corporation Ltd. Annual Report 2012
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China National Accord Medicines Corporation Ltd. Annual Report 2012 China National Accord Medicines Corporation Ltd. Annual Report 2012 March 2013 1 China National Accord Medicines Corporation Ltd. Annual Report 2012 Section I. Important Notice, Contents and Paraphrase Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of Chengde Nanjiang Co., Ltd. (hereinafter referred to as the Company) hereby confirm that there are no any fictitious statements, misleading statements, or important omissions carried in this report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and completion of the whole contents. Yan Zhigang, Principal of the Company, Wei Pingxiao, person in charger of accounting works and Chi Guoguang, person in charge of accounting organ (accounting principal) hereby confirm that the Financial Report of 2012 Annual Report is authentic, accurate and complete. Other directors attending the Meeting for annual report deliberation except for the followed: Name of director absent Title for absent director Reasons for absent Attorney He Zhiyi Independent director Official business Xiong Chuxiong The Preplan Profit Distribution of the Company deliberated and approved by The Board is: taking the total shares as of Dec. 31, 2011 as the radix, sending cash dividends of RMB 1.8(tax included) per every 10 shares to its all shareholders, and not converting capital reserve into share capital. Concerning the forward-looking statements with future planning involved in the Report, they do not constitute a substantial commitment for investors. Investors should be cautious with investment risks. 2 China National Accord Medicines Corporation Ltd. Annual Report 2012 Contents Annual Report 2012 ......................................................................................................................................... 1 Section I Important Notice, Contents and Paraphrase ................................................................................ 2 Section II Company Profile ............................................................................................................................. 6 Section III Accounting data and summary of finnaical indexes ................................................................. 8 Section IV Report of the Board of Directors ............................................................................................... 10 Section V Important Events .......................................................................................................................... 28 Section VI Changes in shares and particular about shareholders ........................................................... 57 Section VII Particulars about Directors, Supervisors,Senior Executives and Employees .................... 63 Section VIII Administrative Structure .......................................................................................................... 72 Section IX Internal Control ........................................................................................................................... 80 Section X Financial Report ........................................................................................................................... 82 Section XI Documents available for reference ......................................................................................... 197 3 China National Accord Medicines Corporation Ltd. Annual Report 2012 Paraphrase Items Refers to Contents Listed Company,Company,The Company, the Geoup, Sinopharm Refers to China National Accord Medicines Corporation Ltd. Accord Sinopharm Group Co.,Ltd.;Controlling shareholder of Sinopharm Holding Refers to the company Company Law Refers to Company Law of the People’s Republic of China Securities Law Refers to Securities Law of the People’s Republic of China Yuan, 10 thousand Yuan, 100 million Refers to RMB, RMB 10 thousand, RMB 100 million Yuan 4 China National Accord Medicines Corporation Ltd. Annual Report 2012 Major Risk Warning It is likely to existing risks in aspect of industrial competition, operation& management, market and national policy, and majority investors are advised to exercise caution of investment risks. 5 China National Accord Medicines Corporation Ltd. Annual Report 2012 Section II Company profile I. Company information Short form of the stock Sinopharm Accord ; Accord B Stock code 000028、200028 Stock exchange for listing Shenzhen Stock Exchange Name of the Company (in 国药集团一致药业股份有限公司 Chinese) Short form of the Company 国药一致 (in Chinese) Foreign name of the China National Accord Medicines Corporation Ltd. Company(if applicable) Short form of foreign name of the Company(if Sinopharm Accord applicable) Legal representative Yan Zhigang Accord Pharm. Bldg., No. 15, Ba Gua Si Road, Futian District, Shenzhen, Registrations add. Guangdong Province Code for registrations add 518029 Accord Pharm. Bldg., No. 15, Ba Gua Si Road, Futian District, Shenzhen, Offices add. Guangdong Province Codes for office add. 518029 Company’s Internet Web http://www.szaccord.com.cn Site E-mail [email protected] II. Person/Way to contact Secretary of the Board Name Chen Changbing Accord Pharm. Bldg., No. 15, Ba Gua Si Road, Futian District, Shenzhen, Contact add. Guangdong Province Tel. +(86)755 25875195 Fax. +(86)755 25875147 E-mail [email protected] III. Information disclosure and preparation place Newspaper appointed for information Securities Times; China Securities Journal; Hong Kong disclosure Commercial Daily Website for annual report publish http://www.szse.cn; http://www.cninfo.com.cn appointed by CSRC Preparation place for annual report Secretariat of the Board of Directors IV. Registration changes of the Company Registration NO. Date for Place for No. of taxation Organization for enterprise legal registration registration registration code license Initial registration 1986-08-02 Shenzhen,P.R.C 4403011001677 440301192186267 19218626-7 Registration at end of 2012-11-06 Shenzhen,P.R.C 440301103040048 440301192186267 19218626-7 report period 6 China National Accord Medicines Corporation Ltd. Annual Report 2012 V. Other relevant information CPA engaged by the Company Name of CPA Pricewaterhouse Coopers Zhongtian CPA Limited Company 11/Floor,PWC Center, Building 2#, Corporate Avenue, No.202 Hubin Rd., Offices add. for CPA Luwan District, Shanghai, P.R.C Signing Accountants Chen Yuntao,Tang Zhenfeng Sponsor engaged by the Company for performing continuous supervision duties in reporting period □ Applicable √ Not applicable Financial consultant engaged by the Company for performing continuous supervision duties in reporting period □ Applicable √ Not applicable 7 China National Accord Medicines Corporation Ltd. Annual Report 2012 Section III. Accounting data and summary of financial indexes I. Main accounting data and financial indexes Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting error correction or not √ Yes □ No Changes over last 2011 2010 2012 year (%) Pre-adjustment Post-adjustment Post-adjustment Pre-adjustment Post-adjustment Operating income 18,011,759,178.26 15,130,338,571.64 15,150,128,554.59 18.89% 13,064,428,148.69 13,099,692,346.51 (RMB) Net profit attributable to shareholders of the 475,792,491.12 330,307,489.82 328,323,616.75 44.92% 261,116,656.70 261,203,158.74 listed company(RMB) Net profit attributable to shareholders of the listed company after 448,238,374.59 311,837,082.85 311,849,021.90 43.74% 245,647,806.23 245,647,285.65 deducting non-recurring gains and losses(RMB) Net cash flow arising from operating 323,955,332.76 227,316,131.98 230,104,293.35 40.79% 428,159,420.65 428,064,719.54 activities(RMB) Basic earnings per 1.65 1.15 1.14 44.74% 0.91 0.91 share (RMB/Share) Diluted earnings per 1.65 1.15 1.14 44.74% 0.91 0.91 share (RMB/Share) Return on Equity (%) 30.51% 27.52% 27.47% 3.04% 27.17% 27.25% Total assets (RMB) 9,295,839,939.64 7,665,759,761.04 7,679,312,771.78 21.05% 6,306,793,005.81 6,325,430,916.21 Net assets attributable to shareholder of listed company (Owners’ equity 1,775,943,028.96 1,350,217,871.35 1,350,093,276.86 31.54% 1,052,370,309.53 1,054,229,588.11 attributable to shareholder of listed company ) (RMB) 8 China National Accord Medicines Corporation Ltd. Annual Report 2012 II. Items and amounts of extraordinary profit (gains)/loss Unit: RMB Item Amount in 2012 Amount in 2011 Amount in 2010 Note In this period, the Gains/losses from the disposal of subsidiary moved non-current asset (including the because of urban -8,347,047.73 1,540,031.87 1,969,629.82 write-off that accrued for renewal. And it losses impairment of assets) RMB 8, 830,000 for the housing disposal In this period, the subsidiary got the compensation RMB Governmental subsidy reckoned 28,500,000 by into current gains/losses (not dismantling and including the subsidy enjoyed in settling, tax return quota or ration according to 57,227,812.33 13,577,864.38 8,221,739.90 RMB 10, 700, 000, national standards, which are bonus of enterprise closely relevant to enterprise’s progress RMB business) 4,940,000 and other Government Subsidies5,000,000 Current net gains/losses of the For the influence of the subsidiaries from period-begin to acquisition of consolidated date occurred from -240,695.14 -1,989,842.59 -4,520,587.64 Sinopharm Holding enterprise merger under the Wuzhou Co., Ltd under common control the common control For the taking