Form 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2010
Commission Filing Number: 001-33398
Simcere Pharmaceutical Group
(Translation of registrants name into English)
No. 699-18 Xuan Wu Avenue,
Xuan Wu District, Nanjing
Jiangsu Province 210042
Peoples Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F.
Form 20-F þ Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): o
Indicate by check mark whether by furnishing the information contained in this Form, the registrant
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes o No þ
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): N/A
SIMCERE PHARMACEUTICAL GROUP
FORM 6-K
TABLE OF CONTENTS
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
|
|
|
Simcere Pharmaceutical Group
|
|
|
By: |
/s/ Zhigang Zhao
|
|
|
Name: |
Zhigang Zhao |
|
|
Title: |
Chief Financial Officer |
|
|
DATE: November 11, 2010
3
Exhibit 99.1
SIMCERE PHARMACEUTICAL GROUP REPORTS UNAUDITED THIRD QUARTER 2010 RESULTS
NANJING, CHINA, November 11, 2010 Simcere Pharmaceutical Group (Simcere or the Company)
(NYSE: SCR), a leading pharmaceutical company specializing in the development, manufacturing, and
marketing of branded generic and proprietary pharmaceuticals in China, today reported unaudited
financial results for the quarter ended September 30, 2010.
Highlights
² |
|
Total revenue was RMB550.1 million (US$82.2 million) for the third quarter of 2010, an increase of 24.0% from RMB443.7
million for the same period in 2009. |
|
² |
|
Gross margin for the third quarter of 2010 was 84.8%, compared to 82.2% for the same period in 2009. |
|
² |
|
Income from operations was RMB61.6 million (US$9.2 million) for the third quarter of 2010, an increase of 111.9% from
RMB29.0 million for the same period in 2009. |
|
² |
|
Net income attributable to Simcere was RMB54.7 million (US$8.2 million) for the third quarter of 2010, an increase of
232.7% from RMB16.4 million for the same period in 2009. |
Mr. Jinsheng Ren, Chairman and Chief Executive Officer of Simcere Pharmaceutical Group, commented,
Simcere achieved solid revenue and net profit growth this quarter, both reaching record highs for
the past eight quarters. Endu sales also saw sustained recovery as our sales force restructuring
continues to pay off.
We are very proud of our recent progress in establishing R&D partnerships, Mr. Ren
continued. Simceres agreement with Bristol-Myers Squibb is a milestone cooperative effort
between a Chinese pharmaceutical leader and an international biopharma company to create a more
effective model for the development of innovative drugs.
2010 Third Quarter Financial Results
Total revenue for the third quarter of 2010 was RMB550.1 million (US$82.2 million), which
represented an increase of 24.0% from RMB443.7 million for the same period in 2009. For the first
nine months of 2010, total revenue was RMB1,553.4 million (US$232.2 million), which represented an
increase of 18.5% from RMB1,310.6 million for the same period in 2009.
Revenue from edaravone injection products under the brand names Bicun and Yidasheng totaled
RMB202.8 million (US$30.3 million) for the third quarter of 2010, which constituted 37.4% of the
Companys product revenue for the third quarter of 2010, and represented an increase of 6.1% from
RMB191.1 million for the same period in 2009. For the first nine months of 2010, revenue from Bicun
and Yidasheng totaled RMB569.5 million (US$85.1 million), which represented an increase of 6.7%
from RMB533.7 million for the same period in 2009.
Revenue from Endu, the Companys patented anti-cancer biotech product, amounted to RMB64.0 million
(US$9.6 million) in the third quarter of 2010, which constituted 11.8% of the Companys product
revenue for the third quarter of 2010 and represented an increase of 195.6% from RMB21.6 million
for the same period in 2009. For the first nine months of 2010, revenue from Endu totaled RMB155.2
million (US$23.2 million), which represented an increase of 71.9% from RMB90.2 million for the same
period in 2009.
Revenue from Sinofuan, a 5-FU sustained release implant for the treatment of cancer, amounted to
RMB48.2 million (US$7.2 million) for the third quarter of 2010, which constituted 8.9% of the
Companys product revenue for the third quarter of 2010, and represented an increase of 34.0% from
RMB36.0 million for the same period in 2009. For the first
4
nine months of 2010, revenue from Sinofuan totaled RMB115.7million (US$17.3 million), which
represented an increase of 21.0% from RMB95.7 million for the same period in 2009.
Revenue from other products including Zailin and Yingtaiqing amounted to RMB222.8 million (US$33.3
million), which constituted 41.1% of the Companys product revenue for the third quarter of 2010,
and represented an increase of 17.1% from RMB190.3million for the same period in 2009. For the
first nine months of 2010, revenue from other products totaled RMB640.9million (US$95.8 million),
which represented an increase of 10.7% from RMB578.9 million for the same period in 2009.
Gross margin for the third quarter of 2010 was 84.8%, compared to 82.2% for the same period in
2009. For the first nine months of 2010, gross margin was 84.0%, compared to 82.3% for the same
period in 2009.
Research and development expenses for the third quarter of 2010 totaled RMB32.5million (US$4.9
million), which represented a decrease of 0.9% from RMB32.8 million for the same period in 2009.
As a percentage of total revenue, research and development expenses were 5.9% for the third quarter
of 2010, compared to 7.4% for the same period in 2009. For the first nine months of 2010, research
and development expenses totaled RMB94.3 million (US$14.1 million), compared to RMB82.9 million for
the same period in 2009.
Sales, marketing and distribution expenses for the third quarter of 2010 were RMB298.7 million
(US$44.6 million), which represented an increase of 20.8% from RMB247.2 million for the same period
in 2009. The increase in expense was primarily due to the hiring of additional staff and higher
advertising expenses for two of the Companys OTC branded generics, Yingtaiqing and Biqi, as well
as marketing activities for newly-launched products. As a percentage of total revenue, sales,
marketing and distribution expenses were 54.3% for the third quarter of 2010, compared to 55.7% for
the same period in 2009. For the first nine months of 2010, sales, marketing and distribution
expenses were RMB855.5 million (US$127.9 million), which represented an increase of 21.8% from
RMB702.5 million for the same period in 2009.
General and administrative expenses were RMB74.0 million (US$11.1 million) for the third quarter of
2010, which represented an increase of 33.1% from RMB55.6 million for the same period in 2009. As
a percentage of total revenue, general and administrative expenses increased to 13.5% for the third
quarter of 2010 from 12.5% for the same period in 2009. For the first nine months of 2010, general
and administrative expenses were RMB199.9 million (US$29.9 million), which represented an increase
of 20.6% from RMB165.8 million for the same period in 2009.
Share-based compensation expense, which was allocated to research and development expenses, sales,
marketing and distribution expenses, and general and administrative expenses, based on the nature
of the work that the employee was assigned to perform, totaled RMB7.6 million (US$1.1 million) for
the third quarter of 2010. Share-based compensation expenses for the third quarter of 2009 were
RMB5.8 million. For the first nine months of 2010, share-based compensation expenses totaled
RMB23.0 million (US$3.4 million), which represented an increase of 30.3% from RMB17.7 million for
the same period in 2009.
Income from operations was RMB61.6 million (US$9.2 million) for the third quarter of 2010, which
represented an increase of 111.9% from RMB29.0 million for the same period in 2009. For the first
nine months of 2010, operating income was RMB155.1 million (US$23.2 million), which represented an
increase of 21.2% from RMB128.0 million for the same period in 2009.
Income tax expense for the third quarter of 2010 was RMB5.9 million (US$0.9 million), compared to
RMB4.7 million for the same period in 2009. The effective income tax rate decreased to 10.4% for
the third quarter of 2010 from 17.2% for the same period in 2009. The decrease was primarily due
to the reversal of valuation allowance against deferred tax assets. For the first nine months of
2010, income tax expense was RMB17.5 million (US$2.6 million) compared to RMB8.8 million for the
same period in 2009.
Net income attributable to Simcere was RMB54.7 million (US$8.2 million) for the third quarter of
2010, compared to RMB16.4 million for the same period in 2009. Net income margin was 9.9% for the
third quarter of 2010, compared to 3.7% for the same period of 2009. For the first nine months of
2010, net income was RMB113.7 million (US$17.0 million), which represented an increase of 11.7%
from RMB101.8 million for the same period in 2009. Net margin for the first nine months of 2010 was
7.3% as compared to 7.8% for the same period in 2009.
5
Basic and diluted earnings per American Depository Share (ADS) for the third quarter of 2010 were
RMB1.02 (US$0.15) and RMB0.99 (US$0.15) respectively. Basic and diluted earnings per ADS for the
first nine months of 2010 were RMB2.09 (US$0.31) and RMB2.04 (US$0.30) respectively. One ADS
represents two ordinary shares of the Company.
As of September 30, 2010, the Company had cash, cash equivalents and restricted cash of RMB178.9
million (US$26.7 million), compared to RMB458.1 million as of December 31, 2009.
In October and November 2009 Simcere entered into agreements to acquire Jiangsu Yanshen through the
acquisition of the entire equity interest in ChinaVax, a Cayman Islands company that, as its sole
business, held a 15% stake in Jiangsu Yanshen for cash consideration. As the Company discovered
quality control problems relating to the production of Jiangsu Yanshens human use rabies vaccine,
a portion of the consideration in the amount of US$4.5 million has not been paid. In October 2010, the selling shareholders of ChinaVax filed an
arbitration proceeding with the Hong Kong International Arbitration Centre claiming for the balance
of the consideration the Company has withheld and the interest accrued at the annual rate of 5%
from February 4, 2010.
Financial Statements
The unaudited condensed consolidated statements of income and balance sheets accompanying this
press release have been prepared by management using U.S. GAAP. These financial statements are not
intended to fully comply with U.S. GAAP because they do not present all of the financial statements
and disclosures required by U.S. GAAP.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute
forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology such as anticipate, believe,
estimate, expect, forecast, intend, may, plan, project, predict, should and
will and similar expressions. In particular, the quotations from management in this press release
and the section under Financial Outlook contain forward-looking statements. These forward looking
statements are based upon managements current views and expectations with respect to future events
and are not a guarantee of future performance. Furthermore, these statements are, by their nature,
subject to a number of risks and uncertainties that could cause actual performance and results to
differ materially from those discussed in the forward-looking statements as a result of a number of
factors. Further information regarding these and other risks is included in Simceres filings with
the U.S. Securities and Exchange Commission at www.sec.gov. Simcere does not undertake any
obligation to update any forward-looking statement, except as required under applicable law.
Conference Call
Simcere Pharmaceutical Group will host a conference call to discuss the Companys results for the
third quarter of 2010 on Thursday, November 11, 2010 at 8 a.m. Eastern Time (Thursday, November 11,
at 9 p.m. Beijing/Hong Kong time). The management team will be on the call to discuss the results
for third quarter of 2010 and to answer questions.
To access the conference call, please dial:
|
|
|
United States toll-free dial-in number:
|
|
+1 866 831 6291 |
International dial-in number:
|
|
+1 617 213 8860 |
North China toll-free dial-in number:
|
|
+86 10 800 152 1490 |
South China toll-free dial-in number:
|
|
+86 10 800 130 0399 |
China toll free / Netcom:
|
|
+86 10 800 852 1490 |
Hong Kong dial-in number:
|
|
+852 3002 1672 |
Please ask to be connected to Simceres Q3 2010 earnings call and provide the following passcode:
18468376. Simcere will also broadcast a live audio webcast of the conference call. The broadcast
will be available by visiting the Investor Relations section of the Companys web site at
www.simcere.com.
Following the earnings conference call, an archive of the call will be available by dialing:
6
|
|
|
United States toll-free dial-in number:
|
|
+1 888 286 8010 |
United States dial-in number:
|
|
+1 617 801 6888 |
The passcode for replay participants is: 16680817. The telephone replay also will be archived on
the Investor Relations section of the Companys web site for seven days following the earnings
announcement.
About Simcere Pharmaceutical Group
Simcere Pharmaceutical Group (NYSE:SCR, Simcere) is a leading pharmaceutical company specializing
in the development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals
in China. In recent years, Simcere has been focusing its strategy on the development of innovative
pharmaceuticals and first-to-market generics. The Company has introduced an innovative anti-cancer
medication, Endu, first-to-market generics such as Bicun and Anxin, and a first-to-market
medication, Sinofuan. Simcere manufactures and sells drugs in the oncological, cardiovascular,
anti-inflammatory and anti-infection therapeutical areas. Simcere concentrates its research and
development efforts on the treatment of diseases with high incidence or mortality rates and for
which there is a clear demand for more effective pharmacotherapy including cancer and
cardiovascular, cerebrovascular, inflammatory and infectious diseases. For more information about
Simcere Pharmaceutical Group, please visit www.simcere.com.
Investor and Media Contacts:
Email: ir@simcere.com
|
|
|
In Nanjing:
|
|
In the United States: |
Frank Zhao
|
|
Kate Tellier |
Chief Financial Officer
|
|
Brunswick Group |
Simcere Pharmaceutical Group
|
|
Tel: +1 212 333 3810 |
Tel: +86 25 8556 6666 ext 8818 |
|
|
|
|
|
In Beijing:
|
|
In Hong Kong: |
Ruirui Jiang
|
|
Joseph Lo Chi-Lun |
Brunswick Group
|
|
Brunswick Group |
Tel: +86 10 6566 2256
|
|
Tel: +852 3512 5000 |
7
SIMCERE PHARMACEUTICAL GROUP
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(AMOUNTS EXPRESSED IN THOUSANDS, EXCEPT SHARE AND ADS DATA)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30, |
|
|
Nine months ended September 30 |
|
|
|
2009 |
|
|
2010 |
|
|
2010 |
|
|
2009 |
|
|
2010 |
|
|
2010 |
|
|
|
RMB |
|
|
RMB |
|
|
USD |
|
|
RMB |
|
|
RMB |
|
|
USD |
|
Product revenue |
|
|
439,015 |
|
|
|
541,971 |
|
|
|
81,006 |
|
|
|
1,298,511 |
|
|
|
1,538,609 |
|
|
|
229,969 |
|
Other revenue |
|
|
4,720 |
|
|
|
8,157 |
|
|
|
1,219 |
|
|
|
12,106 |
|
|
|
14,756 |
|
|
|
2,206 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue |
|
|
443,735 |
|
|
|
550,128 |
|
|
|
82,225 |
|
|
|
1,310,617 |
|
|
|
1,553,365 |
|
|
|
232,175 |
|
Cost of materials and production |
|
|
(79,045 |
) |
|
|
(83,348 |
) |
|
|
(12,458 |
) |
|
|
(231,478 |
) |
|
|
(248,543 |
) |
|
|
(37,149 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
|
364,690 |
|
|
|
466,780 |
|
|
|
69,767 |
|
|
|
1,079,139 |
|
|
|
1,304,822 |
|
|
|
195,026 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
(32,808 |
) |
|
|
(32,502 |
) |
|
|
(4,858 |
) |
|
|
(82,852 |
) |
|
|
(94,289 |
) |
|
|
(14,093 |
) |
Sales, marketing and distribution |
|
|
(247,241 |
) |
|
|
(298,712 |
) |
|
|
(44,647 |
) |
|
|
(702,528 |
) |
|
|
(855,536 |
) |
|
|
(127,873 |
) |
General and administrative |
|
|
(55,592 |
) |
|
|
(74,015 |
) |
|
|
(11,063 |
) |
|
|
(165,779 |
) |
|
|
(199,895 |
) |
|
|
(29,877 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations |
|
|
29,049 |
|
|
|
61,551 |
|
|
|
9,199 |
|
|
|
127,980 |
|
|
|
155,102 |
|
|
|
23,183 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
|
1,885 |
|
|
|
842 |
|
|
|
126 |
|
|
|
7,403 |
|
|
|
3,204 |
|
|
|
479 |
|
Interest expense |
|
|
(4,005 |
) |
|
|
(5,438 |
) |
|
|
(813 |
) |
|
|
(8,680 |
) |
|
|
(14,455 |
) |
|
|
(2,161 |
) |
Foreign currency exchange gains |
|
|
122 |
|
|
|
2,417 |
|
|
|
361 |
|
|
|
350 |
|
|
|
3,634 |
|
|
|
543 |
|
Other income |
|
|
|
|
|
|
1,059 |
|
|
|
158 |
|
|
|
1,092 |
|
|
|
2,150 |
|
|
|
321 |
|
Equity in losses of equity method affiliated
companies |
|
|
|
|
|
|
(3,534 |
) |
|
|
(528 |
) |
|
|
|
|
|
|
(11,237 |
) |
|
|
(1,679 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before income taxes |
|
|
27,051 |
|
|
|
56,897 |
|
|
|
8,503 |
|
|
|
128,145 |
|
|
|
138,398 |
|
|
|
20,686 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense |
|
|
(4,662 |
) |
|
|
(5,943 |
) |
|
|
(888 |
) |
|
|
(8,831 |
) |
|
|
(17,474 |
) |
|
|
(2,612 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
|
22,389 |
|
|
|
50,954 |
|
|
|
7,615 |
|
|
|
119,314 |
|
|
|
120,924 |
|
|
|
18,074 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Net (income)/loss attributable to the
noncontrolling interest |
|
|
(5,958 |
) |
|
|
3,713 |
|
|
|
555 |
|
|
|
(17,469 |
) |
|
|
(7,209 |
) |
|
|
(1,077 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Simcere |
|
|
16,431 |
|
|
|
54,667 |
|
|
|
8,170 |
|
|
|
101,845 |
|
|
|
113,715 |
|
|
|
16,997 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share attributable to Simcere: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
0.15 |
|
|
|
0.51 |
|
|
|
0.08 |
|
|
|
0.87 |
|
|
|
1.04 |
|
|
|
0.16 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted |
|
|
0.14 |
|
|
|
0.49 |
|
|
|
0.07 |
|
|
|
0.87 |
|
|
|
1.02 |
|
|
|
0.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per ADS attributable to Simcere: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
0.29 |
|
|
|
1.02 |
|
|
|
0.15 |
|
|
|
1.75 |
|
|
|
2.09 |
|
|
|
0.31 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted |
|
|
0.29 |
|
|
|
0.99 |
|
|
|
0.15 |
|
|
|
1.73 |
|
|
|
2.04 |
|
|
|
0.30 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
112,724,593 |
|
|
|
107,592,947 |
|
|
|
107,592,947 |
|
|
|
116,466,445 |
|
|
|
108,829,076 |
|
|
|
108,829,076 |
|
Diluted |
|
|
114,929,639 |
|
|
|
110,677,771 |
|
|
|
110,677,771 |
|
|
|
117,663,824 |
|
|
|
111,704,306 |
|
|
|
111,704,306 |
|
8
SIMCERE PHARMACEUTICAL GROUP
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(AMOUNTS EXPRESSED IN THOUSANDS)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
September 30, |
|
|
September 30, |
|
|
|
2009 |
|
|
2010 |
|
|
2010 |
|
|
|
RMB |
|
|
RMB |
|
|
USD |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents and restricted cash |
|
|
458,145 |
|
|
|
178,940 |
|
|
|
26,745 |
|
Accounts and bills receivable, net |
|
|
704,321 |
|
|
|
777,023 |
|
|
|
116,138 |
|
Inventories |
|
|
106,655 |
|
|
|
101,562 |
|
|
|
15,180 |
|
Other current assets |
|
|
102,743 |
|
|
|
113,954 |
|
|
|
17,032 |
|
|
|
|
|
|
|
|
|
|
|
Total current assets |
|
|
1,371,864 |
|
|
|
1,171,479 |
|
|
|
175,095 |
|
Property, plant and equipment, net |
|
|
758,246 |
|
|
|
836,606 |
|
|
|
125,043 |
|
Land use rights |
|
|
146,158 |
|
|
|
143,707 |
|
|
|
21,479 |
|
Goodwill and intangible assets, net |
|
|
695,267 |
|
|
|
666,307 |
|
|
|
99,590 |
|
Investments in and advance to affiliated companies |
|
|
121,865 |
|
|
|
124,263 |
|
|
|
18,573 |
|
Other assets |
|
|
44,502 |
|
|
|
40,125 |
|
|
|
5,997 |
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
|
3,137,902 |
|
|
|
2,982,487 |
|
|
|
445,777 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Short-term borrowings and current portion of long-term debts |
|
|
76,000 |
|
|
|
135,700 |
|
|
|
20,282 |
|
Accounts payable |
|
|
41,439 |
|
|
|
47,673 |
|
|
|
7,126 |
|
Bills payable |
|
|
110,810 |
|
|
|
|
|
|
|
|
|
Other payables and accrued liabilities |
|
|
464,616 |
|
|
|
543,655 |
|
|
|
81,256 |
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
|
|
692,865 |
|
|
|
727,028 |
|
|
|
108,664 |
|
Long-term debts, excluding current portion |
|
|
122,685 |
|
|
|
93,455 |
|
|
|
13,968 |
|
Deferred tax liabilities |
|
|
93,108 |
|
|
|
82,971 |
|
|
|
12,401 |
|
Other liabilities |
|
|
21,561 |
|
|
|
22,335 |
|
|
|
3,338 |
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
930,219 |
|
|
|
925,789 |
|
|
|
138,371 |
|
Redeemable noncontrolling interest |
|
|
|
|
|
|
46,572 |
|
|
|
6,961 |
|
Shareholders equity |
|
|
|
|
|
|
|
|
|
|
|
|
Simcere shareholders equity |
|
|
|
|
|
|
|
|
|
|
|
|
Ordinary shares at par |
|
|
8,716 |
|
|
|
8,454 |
|
|
|
1,264 |
|
Additional paid-in capital |
|
|
1,170,687 |
|
|
|
902,540 |
|
|
|
134,899 |
|
Accumulated other comprehensive loss |
|
|
(43,886 |
) |
|
|
(32,708 |
) |
|
|
(4,889 |
) |
Retained earnings |
|
|
846,707 |
|
|
|
960,422 |
|
|
|
143,550 |
|
|
|
|
|
|
|
|
|
|
|
Total equity attributable to Simcere |
|
|
1,982,224 |
|
|
|
1,838,708 |
|
|
|
274,824 |
|
Noncontrolling interest |
|
|
225,459 |
|
|
|
171,418 |
|
|
|
25,621 |
|
|
|
|
|
|
|
|
|
|
|
Total shareholders equity |
|
|
2,207,683 |
|
|
|
2,010,126 |
|
|
|
300,445 |
|
Commitments and contingencies |
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities, redeemable noncontrolling interest and
shareholders equity |
|
|
3,137,902 |
|
|
|
2,982,487 |
|
|
|
445,777 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: The conversions of Renminbi (RMB) into United States dollars (USD) as at the reporting dates
are based on the noon buying rate of USD1.00 = RMB6.6905 on September 30, 2010 as set forth in the
H. 10 statistical release of the Federal Reserve Board. No representation is intended to imply that
the RMB amounts could have been, or could be, converted, realized or settled into U.S. dollars at
that rate on the reporting dates. |
9