[中报]一致Ｂ(200028):2022年半年度报告（英文版）
原标题:一致Ｂ:2022年半年度报告（英文版） Semi-Annual Report 2022 August 2022 Section I. Important Notice, Contents and Interpretation Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of China National Accord Medicines Corporation 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. Lin Zhaoxiong, Principal of the Company, Gu Guolin, person in charger of accounting works and Wang Ying, person in charge of accounting organ (accounting principal) hereby confirm that the Financial Report of Semi- Annual Report 2022 is authentic, accurate and complete. All directors are attended the Board Meeting for report deliberation. Contents Section I. Important Notice, Contents and Interpretation ................................................................. 1 Section II Company Profile and Main Financial Indexes ................................................................. 4 Section III Management Discussion and Analysis ........................................................................... 8 Section IV Corporate Governance ................................................................................................. 34 Section V Environmental and Social Responsibility ...................................................................... 35 Section VI. Important Events ........................................................................................................ 39 Section VII. Changes in Shares and Particulars about Shareholders ............................................... 79 Section VIII. Preferred Stock ........................................................................................................ 85 Section IX. Corporate Bonds ......................................................................................................... 86 Section X. Financial Report .......................................................................................................... 87 Documents Available for Reference I.The financial statements carried with the signature and seals of legal representative, person in charger of accounting works and person in charge of accounting organ; II.Original text of all documents of the Company as well as the manuscript of the announcement disclosed in the reporting period on Juchao Website. III. Text of the Semi-Annual Report 2022 bearing the signature of the legal representative. Interpretation
Section II Company Profile and Main Financial Indexes I. Company profile
1.Way of contact Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or not □ Applicable √ Not applicable Registrations address, offices address and codes as well as website and email of the Company has no change in reporting period, found more details in Annual Report 2021. 2. Information disclosure and preparation place Whether information disclosure and preparation place changed in reporting period or not □ Applicable √ Not applicable The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and preparation place for semi-annual report have no change in reporting period, found more details in Annual Report 2021. 3. Other relevant information Whether other relevant information have changed during the reporting period □ Applicable √ Not applicable IV. Main accounting data and financial indexes Whether it has retroactive adjustment or re-statement on previous accounting data □Yes √No
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles) □ Applicable √ Not applicable The Company had no difference of the net profit or net assets disclosed in financial report, under either IAS (International Accounting Standards) or Chinese GAAP (Generally Accepted Accounting Principles) in the period. 2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting rules and Chinese GAAP (Generally Accepted Accounting Principles) □ Applicable √ Not applicable The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or Chinese GAAP (Generally Accepted Accounting Principles) in the period. VI. Items and amounts of extraordinary profit (gains)/loss √ Applicable □ Not applicable In RMB
There are no other gains/losses items that satisfy the definition of extraordinary gains/losses in the Company. Explain the items defined as extraordinary profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss □ Applicable √ Not applicable There are no items defined as extraordinary profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss Section III Management Discussion and Analysis I. Main businesses of the company in the reporting period The Company shall comply with the “retailing industries” of Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No.3 - Disclosure of Industry Information (i) Main business of the Company includes pharmaceutical distribution and pharmaceutical retail, specifically as follows: 1.In the field of pharmaceutical distribution, the Company mainly based in Guangdong & Guangxi, leading in the scale of pharmaceutical distribution in the two regions. As of June 30, 2022, there were 1,060 secondary & tertiary medical institutions; 7,106 grass-roots medical clients and 4,819 retail terminal customers (chain pharmacies, single stores, and self-pay pharmacy in hospitals). In terms of distribution, Guangdong and Guangxi regions have subdivided the format markets, pharmaceutical distribution and apparatus consumables, retail direct sales and retail diagnosis and treatment, medical instrument linkage, retail development, and the entire industry business maintains a leading position in the industry; innovative business continues to develop new customer cooperation models and become a medical supply chain management solution and service providers; improve national logistics planning and construction, provide third- party logistics professional services, and create leading logistics and supply chain service capabilities. Through continuous integration of distribution and logistics, deep penetration into the terminal market and improving the stepwise distribution network. To build an intelligent supply chain, committed to become the pharmaceutical and health products & service provider with the most influential, the highest shares, the most comprehensive variety, the best service and the fastest distribution in South China. 2. In the pharmaceutical retail field, Guoda Drugstore is a leading pharmaceutical retailer in sales scale throughout the country By the end of June 2022, Guoda Drugstore has operated 9,137 stores, covering 20 provinces, autonomous regions and municipalities, which has formed a drugstore networks covering eastern and northern China, southern coastal cities, and gradually expanded into northeast, central plains and inland cities, the sales scale of which has maintain the leading within industry; Guoda drugstore, the business of which were mainly relying on social retail drugstores, has been putting great attention on the development of professional service system with medical resources as core competitiveness, building a group of stores with commercial activities, which are able to provide retails and therapy services of “5+X” that integrating medical service and health-care products sales and cooperate with hospitals; at the same time, the Company has been vigorously developing new business, exploring and expanding new sales channels, improving pharmacy service capacity, being dedicated to transit from a traditional medical retail into an innovative service enterprise. By means of conventional products retail management, improving major brands and exploring business cooperation with supplier, accelerating the establishment and improvement of DTP business and continuation of health care service system, Guoda has built industry-leading professional service ability. (ii) Business models 1.Business of distribution (1)Procurement model In terms of procurement, the company has established a procurement mechanism of "front end -- back end" division of labor and cooperation, which effectively reduces the procurement cost. The "front end" is the purchasing department, which, according to business needs, looks for supply of goods, establishes first-run varieties, compares prices and conducts business negotiations on product quality requirements, lead time, supply price and payment terms, in addition, effectively manages suppliers, including supplier qualification, service quality, integrity degree, etc., establishes supplier files, and organizes supplier evaluations. The "back end" is the supply chain department, which is responsible for integrating supply chain resources, grasping supply chain information as a whole, realizing professional division of labor, promoting integrated management, creating integrated service background, assisting the "front end" business, and completing daily purchase contracts and orders. (2) Sales model In terms of sales model, the company has carried out transformation and innovation according to the "one body and two wings" strategy of distribution sector. For traditional business, the distribution implements the business model of "network submersion" in southern China, and is the main channel supplier of drugs in Guangdong and Guangxi, and has achieved full coverage of the national pharmaceutical market. At the same time, we will build special businesses such as equipment, medical beauty, medical care and health, TCM decoction pieces and import, and vigorously expand the end markets such as basic-level medical institutions and private hospitals to improve product supply guarantee and basic-level network coverage capability. The retail direct selling business undertakes the company’s "integration of wholesale and retail" strategy, promotes the national retail terminal layout, and deeply develops in southern China and radiated across the country based on the national top one hundred + professional DTP drugstores, project centralized procurement, the third terminal agents and other distribution networks. Meanwhile, the company provides customers with one-stop overall solutions and diversified value-added services and innovative services; 1) Promote the implementation of medical service innovation model through hospital supply chain project, equipment SPD, regional distribution, regional medical services (inspection, disinfection), and outsourcing and acceptance of prescriptions prescription dispensing and undertaking, etc.. The subsidiaries Sinopharm Holding Guangzhou Medical Technology Co., Ltd., Sinopharm Holding Guangzhou Medical Management Co., Ltd., and Sinopharm Holding Guangzhou Medical Supply Chain Service Co., Ltd. have carried out effective business expansion and practice on professional service products such as medical equipment life cycle management, reagent consumables and disinfection business. 2) In terms of third-party logistics business, we undertake the warehousing, distribution and other value-added services for third-party customers such as pharmaceutical equipment manufacturers, pharmaceutical equipment business, centers for disease control, vaccine manufacturers, etc., and provide professional third-party logistics solutions for integrated businesses such as third- party bonded logistics to national warehousing, distribution and logistics services. (3) Logistics and distribution model After long-term development and accumulation, the logistics center has established a complete modern pharmaceutical logistics service system, and integrated warehousing and distribution and intelligent supply chain service abilities. The served customers include upstream and downstream clients of distribution and operation headquarters, third-party logistics customers include innovative pharmaceutical companies, disease control customers, pharmaceutical equipment manufacturers and commercial companies, vaccine manufacturers, etc. The distribution scope covers the whole country. Distribution terminals include direct selling customers of hospitals, basic-level medical customers, small social medical customers, commercial customers, retail direct selling customers, centers for disease control, individuals, etc. Relying on the national logistics resources of Sinopharm Holding and combined with the resources of carriers, the logistics center has achieved full coverage of national urban and rural medical logistics. The company's logistics products mainly include warehousing inspection services, storage services, delivery services, insurance and supply chain optimization and other value-added services; as well as delivery services in medial transportation cities, special car services for medicines, medial express delivery services, supply chain optimization and other value-added services. 2. Retail business (1) Procurement model The procurement model of Guoda Drugstore is divided into centralized procurement and local procurement. The procurement model of centralized procurement can be divided into unified signing separate purchasing and unified signing unified purchasing. For unified signing separate purchasing, the headquarters uniformly signs tripartite contract (headquarters, regional company and supplier), and the regional company directly purchases from supplier. For unified signing unified purchasing, the headquarters and supplier sign the contracts, the headquarters centralizedly gathers the goods and then distributes to regional company for sales. The procurement model of local procurement is that the regional company directly signs contracts with supplier, and purchases and sells by itself. (2) Sales model The retail business of Guoda Drugstore is mainly carried out in the form of chain operation, including company- owned stores and franchised stores. By the end of June 2022, there were 9,137 store in total, including 7,581directly owned stores, 1,556 franchised stores, covering 20 provincial-level markets; main business of the Company including Chinese patent drugs and generic medicines, traditional Chinese medicine decoction pieces, medical equipment, health food, healthy food and supplies, etc.. In terms of business model, it actively promotes online to offline Internet + medicine, and explores "5+X" retail and diagnosis and treatment innovative stores combining traditional Chinese medicine, Western medicine, rehabilitation and physiotherapy services. At the same time, it continuously optimizes the slow disease diagnosis and treatment and member management new model, now there are nearly 24 million active members, establishes health records for customers with chronic disease, follow up and pay close attention in a long term, and cooperates with top ranked suppliers at home and abroad, constantly enhances professional pharmaceutical affairs service ability, provide quality health products and services for the majority of the people, and fulfills the social responsibility of a state-owned enterprise. (3) Logistics and distribution model The logistics and warehousing management model of the headquarters and subsidiaries of Guoda Drugstore has two main types, the first is self-operated logistics model, namely the subsidiaries rent warehouses for the warehousing and distribution services of stores and external customers, the second is the model to entrust state control system for logistics distribution, namely the subsidiaries entrust the local state control system for storage and transportation based on factors such as cost or resource sharing. There are three modes of transportation, i.e. self-operated distribution, entrusting a third party for transportation, and mixed transportation management - self- operated + entrusted mode. Operation of the retail stores during the reporting period: 1. As of June 2022, Guoda Drugstore has 7581 direct-sale stores, sales revenue amounted to 8.64 billion yuan; and has 1556 franchised stores, the distribution revenue amounted as 607 million yuan.
Central China: Henan, Hunan; Northwest: Ningxia, Xinjiang; Southwest: Yunnan (1) There were 437 new direct-sale stores opened and 113 closed in first half of 2022, a net increase of 324 stores.
(2) Medical insurance qualification of the stores As of June 30, 2022, the Company has 7,581 chain stores with directly selling, and 6,891 pharmacy stores obtained the qualification of “Designated retail pharmacies of medical insurance”, representing 91% of the total number of directly operated pharmacies.
2.Change of main selling index
(1) Classify according to region
(2) Operating efficiency of direct-sale stores during the reporting period
Rental efficiency=Annual sales volume/Yearly rental 3.Top 10 stores in terms of operating revenue The cumulative operating revenue from top 10 stores takes 7.8% in Guoda Drugstore’s overall operating revenue.
4.Structure of the category at retail terminal
5. Purchasing and supplies Goods suppliers of Guoda Drugstore are mainly external suppliers and assist affiliated enterprise of SINOPHARM and private brands. Top five suppliers in the first half of 2022:
The company has improved the operating efficiency by optimizing the product structure. In the first half of 2022, direct sales of members accounted for 73%, the unit price of member customers was 113 yuan, a year-on-year increase of 13.2%, and the unit price of total customers was 101 yuan, a year-on-year increase of 10.6%. The main difference between members and non-members lies in the recognition of the brand and the differentiation on the type of merchandise purchased. 7. Warehousing and logistics during the reporting period Logistics system of Guoda Drugstore is constantly improving. By the end of June 2022, Guoda Drugstore has a total of 36 logistic centers/distribution centers in 20 provinces (including 9 commissioned logistics and 27 owned logistics) and owns warehousing of 180,000 square meters nationwide; of which, 1,460 square meters for cold storage with 3,824 cubic meters in volume, which are used for storage and circulation of normal temperature, shady and cool, and refrigerated products, guaranteed the commodity distribution for all customers; owns 162 logistic vehicles in the country and 23 vehicles for refrigeration; Number of the logistics workforce nationwide from Guoda was 1,284. 8. Undertake prescription outflow and chronic disease management With the continuous deepening of the national pharmaceutical reform, the basis of the model of realizing the high added value of medicine with doctors' labor has been collapsed through impacts of policies such as volume-based procurement, centralized bidding, and dual-channel, and prescription outflow has gradually become a trend. In first half of 2022, the overall prescription drug sales was 53 million yuan with tax included(DTP included), up 7.4% on a y-o-y basis. In order to better undertake the prescription outflow, it is necessary to strengthen professional service capacity and establish chronic disease management team. Guoda Drugstore organized weekly online learning for diabetes specialists and hypertension specialists, covering 27 regions as of June 2022, and trained 3,069 diabetes specialists and 3,028 hypertension specialists. A total of 1.19 million members of diabetes and 1.21 million members of hypertension have been recorded, and the sales of diabetes and hypertension products increased by 17.5% and 7.2% on a year-on-year basis. The ability to undertake outflow of prescriptions and chronic disease management are increasing in size gradually. II. Core competitiveness analysis 1. Strong network coverage and layout Relying on the perfect distribution network and variety resources, Sinopharm Accord has unified the wholesale and retail resources. The Company owns complete drug distribution network, sales of all forms have achieved a steady growth. (1) There were 27 prefecture-level cities in Guangdong and Guangdong fully cover medical institutions at all levels, small social medical institutions, and retail chain single-store terminals; in terms of retail diagnosis and treatment, DTP and hospital-side pharmacies (Sinopharm Holding Drugstore) reaching 133; (2) Guoda Drugstore has 9,137 retail stores and chain network spans 20 provinces and autonomous regions, covering more than 150 cities in China. 2. Abundant variety resources After years of hard work, the Company’s distribution business has accumulated rich variety resources in pharmaceuticals, consumables and other fields, and established extensive cooperative relations with thousands of domestic manufacturers and commercial enterprises, and established stable business relationships with hundreds of import and joint ventures, the overall operating product regulations exceed 55,000. Guoda Drugstore operates more than 160,000 merchandises. With its relatively comprehensive purchasing network and years of experience in commodity management, Guoda Drugstore has established a merchandise system with wide coverage, high professionalization, and rich varieties. 3. Complete logistics and distribution system In terms of distribution, warehousing and transportation network, the logistics center has more than 180,000 square meters of warehouse space in Guangdong and Guangxi; 5 logistics centers, 22 distribution centers, and 2 transfer station have formed a stepped logistics distribution network. Relying on Sinopharm Holding's national logistics resources and combined with the carrier resources, we have achieved full coverage of national urban and rural medical logistics. In terms of informatization and automation, it has a modern logistics management system, including WMS warehouse management system, TMS intelligent dispatching system, logistics visualization system, AGV goods-to-person system, mechanical arm and five-sided scanning code instrument, to realize the digitalization and intelligentization of logistics, and continuously improve the efficiency and quality of logistics services. In terms of operation management, it has implemented unified standardized operation norms and management, and implemented integrated quality management system, integrated information management, integrated operation management. It has implemented unified planning, unified deployment, and unified management for logistics resources management. （未完）  |