Xinhua Pharmaceutical's net profit fell 84% in the first half of the year, turning a loss by government subsidies

The government subsidy received by the company in the current period is 24.77 million yuan This also means that without the subsidy, the company's net profit in the first half of this year will be negative On the evening of July 30, Xinhua Pharmaceutical announced that in the first half of this year, the company realized an operating revenue of 1.617 billion yuan, a year-on-year increase of 5.15% The company realized a net profit of 4.98 million yuan attributable to shareholders of listed companies, a year-on-year decrease of 84% More than half a month ago, on July 12, Xinhua Pharmaceutical released its performance forecast At that time, it was estimated that the net profit attributable to shareholders of Listed Companies in the first half of this year was about 3.12 million yuan to 9.36 million yuan, down 70% to 90% compared with the same period of last year It is worth noting that the government subsidy received by the company in the first half of this year is 23.79 million yuan, and the net profit of the company after deducting non recurring profit and loss is negative In the first half of this year, the operating cost of Xinhua Pharmaceutical exceeded the operating revenue According to the data, from January to June, Xinhua Pharmaceutical achieved a total operating revenue of 1.617 billion yuan and a total operating cost of 1.631 billion yuan, resulting in a negative operating profit of 13.04 million yuan, down 151% year on year The main business areas of the company are APIs, preparations, commercial circulation and chemical products Among them, the company's revenue from APIs last year was 780 million yuan, the revenue from preparations was 303 million yuan, the revenue from commercial circulation was 411 million yuan, and the revenue from chemical products was 103 million yuan As for the decline of performance, the company explained that the main reasons for the decrease are the increase of depreciation expenses caused by the fixed assets formed in the new park; the cost rise caused by the unstable consumption of raw materials and power at the initial stage of production line; the increase of environmental protection investment and governance expenses; the exchange loss is large due to the appreciation of RMB; the increase of loan leads to the increase of financial expenses; the investment in new product R & D Increase, related costs rise According to the data, the operating expenses of Xinhua Pharmaceutical in the first half of the year were 257 million yuan, compared with 244 million yuan in the same period last year However, the company's R & D investment in the first half of this year was 36.06 million yuan, compared with 47.32 million yuan in the same period last year, down 23% year on year When reading the annual report of the company in the first half of the year, the reporter found that the operating profit of Xinhua Pharmaceutical in the first half of the year was negative, but the company's net profit was positive, and the government subsidies were indispensable According to the data, the government subsidy received by the company in the current period is 23.79 million yuan This also means that without the subsidy, the company's net profit in the first half of this year will be negative It is this series of government subsidies that turned the net cash flow generated by the company's operating activities to a positive value of 5.37 million yuan in the first half of this year, compared with a negative value of 42.18 million yuan in the same period last year, an increase of 112% over the same period last year It is worth noting that the performance pressure of Xinhua Pharmaceutical has gradually increased since last year, and last year, it was also because of government subsidies that the company was able to avoid losses Data shows that the company's operating profit in 2012 was negative 18.7 million yuan, while the net profit attributable to shareholders of listed companies was 23.66 million yuan After deducting non recurring profit and loss, the company's net profit was negative 20.39 million yuan Last year, Xinhua received 43.1 million yuan in government subsidies, according to data.