Financial Performance - Net profit attributable to shareholders for Q1 2023 was CNY 45,399,312.04, down 9.15% from CNY 49,972,953.24 in Q1 2022[9] - Operating revenue for Q1 2023 was CNY 175,152,565.78, a decrease of 4.08% compared to CNY 182,603,038.82 in the same period last year[9] - The net cash flow from operating activities decreased by 40.61% to CNY 24,748,327.96 from CNY 41,670,594.01 in the previous year[10] - Total operating revenue for Q1 2023 was CNY 175,152,565.78, a decrease from CNY 182,603,038.82 in Q1 2022, representing a decline of approximately 8.0%[75] - Net profit for Q1 2023 was CNY 47,662,270.56, down from CNY 53,340,658.13 in Q1 2022, reflecting a decrease of approximately 10.4%[76] - Earnings per share for Q1 2023 were CNY 0.1063, compared to CNY 0.1171 in Q1 2022, showing a decline of about 6.8%[76] Assets and Liabilities - Total assets as of March 31, 2023, reached CNY 1,316,040,144.93, an increase of 1.77% compared to the end of 2022[9] - The company's asset-liability ratio (consolidated) improved to 8.42% from 10.55% year-on-year[9] - The balance of accounts receivable increased by 276.28% to CNY 8,781,800 from the beginning of the year, mainly due to increased business settled by notes[11] - The balance of contract liabilities decreased by 52.14% to CNY 4,821,500, primarily due to a reduction in advance customer payments[11] - Total liabilities decreased to CNY 110,800,087.00 from CNY 136,386,510.76, indicating a decrease of approximately 18.7%[69] - The total equity attributable to shareholders increased to ¥1,132,562,063.11 from ¥1,086,641,028.20, marking a growth of approximately 4.2%[70] Cash Flow - Cash and cash equivalents decreased by CNY 1,611,400, with a net increase of cash and cash equivalents down 60.83% year-on-year[14] - The company reported a cash inflow from operating activities of CNY 114,578,823.47[19] - The net cash flow from operating activities for Q1 2023 was -2,620,049.16 CNY, compared to 154,984.76 CNY in Q1 2022, indicating a significant decline in operational cash generation[81] - Total cash inflow from operating activities in Q1 2023 was ¥140,961,929.11, compared to ¥147,707,932.11 in Q1 2022, a decline of approximately 4.6%[79] - Cash outflow for operating activities in Q1 2023 was ¥116,213,601.15, an increase from ¥106,037,338.10 in Q1 2022, representing an increase of about 9.9%[79] Shareholder Information - The total number of ordinary shares at the end of the period was 426,918,340, with 99.9561% being unrestricted shares[21] - The largest shareholder, Jinghua Pharmaceutical Group Co., Ltd., holds 72.3146% of the shares, totaling 308,724,340 shares[22] - The company has a stock price stabilization plan that will be activated if the stock price falls below the audited net asset value per share for 20 consecutive trading days[34] - The company plans to implement profit distribution or capital reserve conversion to stabilize stock prices if necessary, with a board meeting to be held within 5 trading days to discuss proposals[35] - Cash dividends will be distributed at a minimum of 10% of the annual distributable profit, with a cumulative minimum of 30% over any three consecutive years[48] Commitments and Compliance - The company has committed to a stable and continuous profit distribution policy, prioritizing cash dividends whenever possible[45] - The controlling shareholder has committed not to interfere with the company's management or harm its interests[43] - The company will comply with all relevant regulations regarding shareholding and changes, ensuring transparency in its operations[50] - The company guarantees the authenticity, accuracy, and completeness of its public offering application documents, and will bear legal responsibility for any false statements or omissions[54] - The company has pledged to hold a board or shareholder meeting within 10 working days to revise internal control systems to prevent participation in any fund pool business[62] Operational Efficiency - The company will enhance management efficiency and control costs to improve operational performance and profitability[41] - The company will establish a special account for the management of raised funds to ensure their proper use[42] - The company aims to accelerate the investment progress of fundraising projects to achieve expected benefits as soon as possible[42] - The company is focusing on research and development, with R&D expenses reported at CNY 5,774,630.02 in Q1 2022, down from CNY 8,037,579.41 in Q1 2021, suggesting a strategic shift in investment priorities[75]

Expansion and Approvals - In May 2022, the subsidiary Luhua Senxuan completed a 6,000-ton expansion project for Dioxane, passing safety acceptance[3]. - In August 2022, the subsidiary Nantong Company’s Pumice product received FDA approval for generic drug registration[3]. - By the end of 2022, the subsidiary Nantong Company had registered its raw material drug product Huberzong in 19 countries, with approvals from the UK, Portugal, Switzerland, and Spain[3]. - The subsidiary Nantong Senxuan was recognized as a "Specialized, Refined, and Innovative Small Giant Enterprise" in Jiangsu Province in December 2022[3]. - The company’s analysis and testing center laboratory received CNAS certification in December 2022[3]. Financial Performance - In 2022, the company's operating revenue reached approximately CNY 623.59 million, representing a 10.66% increase from CNY 563.54 million in 2021[26]. - The net profit attributable to shareholders increased by 22.29% to approximately CNY 160.54 million in 2022, compared to CNY 131.28 million in 2021[26]. - The gross profit margin for 2022 was 44.85%, slightly down from 44.87% in 2021[26]. - The company’s weighted average return on equity was 15.56% in 2022, up from 13.50% in 2021[26]. - The company’s basic earnings per share increased by 22.31% to CNY 0.3761 in 2022, compared to CNY 0.3075 in 2021[26]. Risks and Challenges - The company is facing risks related to tax policy changes, exchange rate fluctuations, and potential bad debts from accounts receivable due to rapid business expansion[10]. - The company’s procurement of raw materials has seen price increases, which could negatively impact profitability if the trend continues[10]. - The company has not listed the impact of the COVID-19 pandemic as a major risk for future operations, indicating a shift in focus[12]. - The company faced significant competition from raw material manufacturers in developing countries, particularly India, impacting pricing and market share[14]. - The company is at risk of market demand changes due to high technological barriers in the pharmaceutical industry, particularly from innovations in developed countries[14]. Research and Development - The company has been recognized as a high-tech enterprise and a specialized, refined, distinctive, and innovative enterprise at the provincial level[42]. - R&D expenditure for the current period amounted to ¥30,884,191.98, an increase from ¥28,102,839.63 in the previous period, representing a growth of approximately 10%[80]. - The total number of R&D personnel increased from 100 to 103, with the proportion of R&D staff to total employees remaining stable at around 15.77%[82]. - The company holds a total of 125 patents, up from 100 in the previous period, including 24 invention patents, an increase from 14[83]. - Several R&D projects have been completed, including the development of high-purity synthesis methods and cost-reduction techniques, aimed at enhancing product quality and market competitiveness[84]. Environmental Compliance - The company emphasized its commitment to environmental protection, with all subsidiaries complying with relevant pollution discharge standards and regulations[94]. - The company’s subsidiary, Jinghua Pharmaceutical Group Nantong Co., Ltd., reported a COD discharge concentration of 223.64 mg/l, which is below the regulatory limit of 500 mg/l[100]. - The company has implemented measures to protect the environment and improve living conditions for local residents[93]. - The company has established a rigorous monitoring frequency for various pollutants, including monthly checks for VOCs and quarterly checks for particulate matter[106]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[115]. Shareholder Commitments and Financial Management - The company commits to stabilizing its stock price for three years after the public offering and listing on the selected tier, initiating measures if the stock price falls below the audited net asset value per share from the previous fiscal year for 20 consecutive trading days[153]. - The company will prioritize cash dividends in profit distribution, with a principle of distributing dividends at least once per fiscal year, barring special circumstances[168]. - The board will propose cash dividend plans based on the company's profitability and funding needs, ensuring that independent directors review and provide opinions on these plans[167]. - The company has a positive cumulative distributable profit and sufficient cash flow, allowing for cash dividends without affecting future operations[169]. - The company will ensure compliance with relevant laws and regulations regarding shareholding and changes in shareholding by its controlling shareholders[176].

Financial Performance - The company's operating revenue for 2022 is expected to be CNY 623,593,117.91, representing a year-on-year increase of 10.66%[6] - The net profit attributable to shareholders is projected to be CNY 160,544,908.20, reflecting a growth of 22.29% compared to the previous year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses is estimated at CNY 149,943,464.58, which is a 20.32% increase year-on-year[6] - Basic earnings per share are expected to be CNY 0.3761, up 22.29% from the previous year[6] - Total assets at the end of the reporting period are projected to be CNY 1,293,147,896.31, an increase of 7.51% year-on-year[6] - Shareholders' equity attributable to the company is expected to reach CNY 1,086,641,028.20, marking an 8.42% increase compared to the beginning of the year[6] Revenue Growth Drivers - The growth in operating revenue is primarily driven by increased export income from raw material drugs and higher sales of pharmaceutical intermediates[7] - The increase in net profit is attributed to the rise in operating revenue and corresponding gross profit growth[7] Cautionary Notes - The company emphasizes that the financial data presented is preliminary and has not been audited, urging investors to be cautious[8] - The final financial figures will be disclosed in the company's 2022 annual report[8]

江苏森萱医药股份有限公司 证券代码：830946 证券简称：森萱医药 公告编号：2022-101 江苏森萱医药股份有限公司 关于接待机构投资者调研情况的公告 | --- | |--------------------------------------------------------------------| | | | 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 | | 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 | | 担个别及连带法律责任。 | 江苏森萱医药股份有限公司（以下简称"公司"）于 2022 年 11 月 17 日接 待了 59 家机构的调研，现将主要情况公告如下： 一、 调研情况 调研时间：2022 年 11 月 17 日 调研形式：网络路演 调研机构：珠海坚果私募基金、中信资产、中信建投基金、中泰证券、中融 基金、中国银河证券、中国国际金融、浙商证券、浙江韶夏投资、长信基金、长 城证券、粤开证券、粤港澳大湾区产融资产、圆信永丰基金、易知（北京）投资、 徐工蓝海（上海）资产、兴业证券、信达澳亚基金、湘财证券、泰信基金、泰康 资产、盛宇投资、深圳 ...

江苏森萱医药股份有限公司 证券代码：830946 证券简称：森萱医药 公告编号：2022-100 江苏森萱医药股份有限公司 关于接待机构投资者调研情况的公告 | --- | --- | |------------------------------------------------------------------------|-------| | | | | 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 | | | 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 | | | 带法律责任。 | | 江苏森萱医药股份有限公司（以下简称"公司"）于 2022 年 11 月 8 日接待 了 2 家机构的调研，现将主要情况公告如下： 一、 调研情况 调研时间：2022 年 11 月 8 日 调研形式：网络调研 调研机构：万家基金、开源证券 上市公司接待人员：财务总监、董事会秘书朱狮章、证券事务代表周剑龙 二、 调研的主要问题及公司回复概要 问题 1：请简单介绍一下公司 2022 年前三季度的经营情况。 回复：2022 年前三季度，公司生产经营稳定，实现收入、利润双增 ...

Financial Performance - The company's operating revenue for the current period reached ¥351,367,667.65, representing a year-on-year increase of 31.61% compared to ¥266,975,261.94 in the previous year [25]. - The net profit attributable to shareholders of the listed company was ¥95,570,133.06, reflecting a growth of 24.98% from ¥76,470,452.18 in the same period last year [25]. - The gross profit margin decreased to 47.02% from 49.95% year-on-year [25]. - The net cash flow from operating activities was ¥79,776,946.84, an increase of 8.19% compared to ¥73,738,385.06 in the previous year [27]. - The company's basic earnings per share rose to ¥0.2239, up 25.01% from ¥0.1791 in the same period last year [25]. - The company reported a net non-recurring profit of ¥7,704,382.07 after tax, with total non-recurring gains amounting to ¥10,564,824.20 [30]. - The company's weighted average return on equity increased to 9.32% from 7.87% year-on-year [25]. - The company achieved operating revenue of 351.37 million yuan, representing a year-on-year growth of 31.61% [35]. - The net profit attributable to shareholders was 95.57 million yuan, reflecting a year-on-year increase of 24.98% [35]. - The net cash flow from operating activities was 79.78 million yuan, up by 8.19% year-on-year [36]. Risks and Challenges - The company faces tax policy risks as some subsidiaries benefit from high-tech enterprise tax incentives, which may be revoked if conditions are not met [13]. - Currency exchange rate fluctuations pose a risk, potentially leading to foreign exchange losses for the company [13]. - The rapid expansion of the company's business has increased accounts receivable, raising the risk of bad debt losses [13]. - Rising raw material prices have been observed, which could negatively impact the company's profitability if the trend continues [13]. - The company operates in a competitive market with numerous domestic and international players, increasing market competition risks [13]. - The ongoing COVID-19 pandemic may adversely affect the company's overseas market activities and cash flow due to restrictions [14]. - International trade tensions, particularly between the US and China, could negatively impact the company's export business and performance [14]. - The company faces risks related to the approval of its raw material drugs and potential market share decline if downstream formulation products do not pass quality evaluations [15]. - The company has a long-term receivable risk related to a land use rights repurchase agreement valued at 52.634 million yuan, with potential bad debt implications [14]. - The company is at risk of significant bad debt losses if the loan from Tai Xing Hong Qiao Industrial Development Co., Ltd. is not recovered in a timely manner [90]. Environmental and Safety Management - The company has strengthened safety and environmental management, with no major accidents reported during the period [36]. - The company has implemented pollution prevention facilities, including two sets of waste gas incinerators with capacities of 30,000 m³/h and 50,000 m³/h, ensuring compliance with environmental standards [63]. - The wastewater treatment facility has a daily processing capacity of 1,000 tons, with ongoing construction of additional treatment systems [64]. - The company has established three standardized solid waste storage facilities to manage solid waste effectively, ensuring compliance with disposal regulations [64]. - The company has installed online monitoring devices at all emission outlets, with data connected to provincial and municipal platforms for real-time tracking [65]. - The company’s waste gas treatment includes a two-stage activated carbon adsorption process, ensuring that emissions meet regulatory standards [65]. - The company has a comprehensive environmental protection strategy, including the management of hazardous waste through qualified disposal units [65]. - The company has not experienced any environmental pollution incidents to date, indicating effective operational management [67]. - The company has conducted regular training and drills to improve emergency response capabilities for environmental incidents [72]. Research and Development - Research and development expenses rose to CNY 17.77 million, maintaining a steady 5.06% of operating revenue, with a year-over-year increase of 31.47% [44]. - The company is actively increasing R&D investment to ensure compliance with high-tech enterprise qualifications and tax incentives [79]. - The company is enhancing R&D efforts and optimizing product processes to address market competition risks from both domestic and international players [83]. - The company is accelerating the R&D and production of its raw materials to mitigate the risk of not passing the associated review [92]. Commitments and Governance - The company is currently fulfilling commitments related to stabilizing stock prices made during the public issuance of shares on May 19, 2020 [102]. - The company has ongoing commitments to compensate for the dilution of immediate returns as per the public issuance of shares on May 19, 2020 [102]. - The company is actively fulfilling commitments regarding profit distribution policies made during the public issuance of shares on May 19, 2020 [102]. - The company has committed to enhancing management efficiency and controlling expenses to improve operational efficiency and profitability [118]. - The company will implement measures to ensure that the commitments regarding the replenishment of diluted immediate returns are fulfilled [120]. - The company has pledged to compensate investors for losses incurred due to misleading statements in the public offering documents [132]. - The company will publicly disclose reasons for any failure to fulfill commitments and will apologize to shareholders and investors [136]. Market and Operational Strategy - The company is focusing on expanding its market presence and developing new technologies to enhance its competitive edge [176]. - Future guidance indicates a continued emphasis on improving operational efficiency and exploring potential mergers and acquisitions to drive growth [176]. - The company is exploring markets in regions less affected by the COVID-19 pandemic to mitigate risks associated with the ongoing health crisis [87]. - The company is adjusting its market strategy to reduce exposure to international trade tensions and protect its export business [88].

Financial Performance - Total revenue for Q1 2022 reached ¥182,603,038.82, representing a year-on-year increase of 30.63% compared to ¥139,788,669.27 in Q1 2021[14] - Net profit attributable to shareholders for Q1 2022 was ¥49,972,953.24, up 23.47% from ¥40,474,012.63 in the same period last year[14] - The net cash flow from operating activities increased by 57.04% to ¥41,670,594.01, compared to ¥26,534,388.23 in Q1 2021[14] - Basic earnings per share for Q1 2022 were ¥0.1171, reflecting a 23.52% increase from ¥0.0948 in Q1 2021[14] - The total sales revenue for the period was ¥114,578,823.47, compared to ¥114,860,708.39 in the previous period, indicating a slight decrease[20] - The company reported a net increase in cash and cash equivalents of ¥53,571,634.59, up from ¥52,076,721.26 in the previous period[20] - Total operating revenue for the period was 120,725,024.05, an increase from 89,254,377.61 in the previous period, reflecting a growth of approximately 35.3%[80] - Net profit for the period reached 53,340,658.13, compared to 43,454,614.55 in the same period last year, representing an increase of about 22.5%[81] Assets and Liabilities - Total assets as of March 31, 2022, were ¥1,239,285,533.57, a 3.03% increase from ¥1,202,864,513.38 at the end of 2021[14] - The net assets attributable to shareholders increased by 5.06% to ¥1,052,935,234.63 from ¥1,002,268,468.65 at the end of the previous year[14] - The company's debt-to-asset ratio decreased to 9.55% from 11.33% year-on-year, indicating improved financial stability[14] - Total liabilities decreased to ¥118,355,182.45 from ¥136,233,225.53, indicating a reduction of approximately 13.1%[73] - Current liabilities totaled ¥112,854,794.80, down from ¥130,248,976.17, showing a decline of around 13.3%[72] - Non-current liabilities were reported at ¥5,500,387.65, a slight decrease from ¥5,984,249.36, representing a reduction of about 8.0%[73] - Shareholders' equity increased to ¥1,120,930,351.12 from ¥1,066,631,287.85, marking a growth of approximately 5.1%[73] Cash Flow - The company's cash and cash equivalents at the end of the period amounted to ¥358,923,697.42, an increase from ¥359,406,262.86 at the beginning of the period[20] - The total cash paid for taxes during the period was ¥12,418,704.66, slightly down from ¥12,483,047.84 in the previous period[20] - Operating cash flow for Q1 2022 was CNY 41,670,594.01, a 57% increase from CNY 26,534,388.23 in Q1 2021[85] - Cash and cash equivalents at the end of Q1 2022 totaled CNY 313,683,749.03, down from CNY 359,406,262.86 at the end of Q1 2021[86] - The company experienced a net decrease in cash and cash equivalents of CNY 15,624,365.24 in Q1 2022, compared to an increase of CNY 8,656,465.11 in Q1 2021[88] Shareholder Commitments and Governance - The commitments made during the company's listing are currently being fulfilled by the board members and major shareholders[31] - The commitments related to major asset restructuring have been completed, while some are still in progress, including those concerning independence and liability for losses[32] - The company has a plan to stabilize its stock price for three years post-listing, which includes specific measures to be taken if the stock price falls below the audited net asset value per share[34] - The company can repurchase shares if the stock price remains below the audited net asset value for ten consecutive trading days after implementing profit distribution or capital reserve conversion[37] - The controlling shareholder is required to propose a plan to increase their shareholding if the stock price remains low after the repurchase[38] - The company will require new directors and senior management to sign commitments to uphold stock price stabilization measures[41] - The company’s controlling shareholder has committed not to interfere with the company's management or harm its interests[43] Profit Distribution Policy - The company has developed a profit distribution policy to ensure stable and reasonable returns for investors, considering factors like profitability and cash flow[45] - The company will implement a continuous and stable profit distribution policy, with annual profit distribution plans proposed by the board of directors[46] - The company adopts a cash, stock, or a combination of both methods for profit distribution, prioritizing cash distribution[48] - The company plans to distribute at least 10% of the annual distributable profit in cash when conditions are met, and at least 30% of the average annual distributable profit over any three consecutive years[49] - The company aims to maintain a cash dividend ratio of at least 80% for mature stages without significant capital expenditure, and at least 40% with significant capital expenditure[49] Compliance and Legal Responsibilities - The controlling shareholder guarantees the authenticity and completeness of the public offering application documents, accepting legal responsibility for any inaccuracies[56] - All directors, supervisors, and senior management confirm the accuracy of the public offering application documents and accept legal responsibility[57] - The underwriter and auditing firm have committed to the accuracy of the public offering documents, agreeing to compensate investors for any losses caused by inaccuracies[57] - The company will publicly explain any failure to fulfill commitments and apologize to shareholders if such failures occur[60] - The company will ensure compliance with legal regulations regarding shareholding and will bear responsibility for any violations[56]

Company Overview - Jiangsu Senxuan Pharmaceutical successfully transitioned to the Beijing Stock Exchange, becoming one of the first companies listed there[3]. - The company was listed on the Beijing Stock Exchange on November 15, 2021, marking a significant milestone in its growth strategy[22]. - The company’s total share capital is 426,918,340 shares, reflecting its scale in the pharmaceutical manufacturing sector[22]. - The company’s actual controller is the State-owned Assets Supervision and Administration Commission of Nantong City, ensuring government oversight[23]. Financial Performance - The company's total revenue for 2021 was $563.54 million, representing a year-over-year increase of 2.78% compared to $548.28 million in 2020[28]. - The net profit attributable to shareholders decreased by 9.38% to $131.28 million in 2021 from $144.87 million in 2020[28]. - The gross profit margin for 2021 was 44.87%, down from 48.36% in 2020[28]. - Total assets increased by 7.42% to $1.20 billion at the end of 2021, compared to $1.12 billion at the beginning of the year[30]. - The total liabilities rose by 26.45% to $136.23 million at the end of 2021, up from $107.74 million at the beginning of the year[30]. - The company's interest coverage ratio was 538.37 in 2021, significantly higher than 43.70 in 2020[30]. - The net cash flow from operating activities was $174.42 million, a decrease of 3.19% from $180.17 million in 2020[32]. - The company's basic earnings per share decreased by 16.80% to $0.3075 in 2021 from $0.3696 in 2020[28]. - The net profit growth rate for 2021 was -9.73%, contrasting with a growth rate of 34.00% in 2020[33]. - Non-recurring gains and losses totaled $8.34 million in 2021, down from $15.85 million in 2020[39]. Production and Capacity - The subsidiary Luhua Senxuan completed the trial production of a 6,000-ton expansion project for Dioxane, indicating growth in production capacity[3]. - The company has established a stable raw material supply system to mitigate risks associated with supply chain disruptions[14]. - The company has completed the trial production of its subsidiary's expansion project[47]. - The company has implemented a project to improve the production of 6,000 tons/year of 1,4-Dioxane, which has led to a reduction in organic waste from 21.87 Kg/ton to 15.99 Kg/ton after the upgrade[109]. Research and Development - The company is currently assessing the commercialization of 12 raw material drug technologies, with uncertain cash flow predictions[10]. - Research and development expenses increased by 11.31% to CNY 28,102,839.63, reflecting the company's commitment to innovation[57]. - The total number of R&D personnel increased from 82 to 100, with the proportion of R&D staff to total employees rising from 13.10% to 15.77%[82]. - The company holds 100 patents, up from 77, including 14 invention patents, an increase from 11[84]. - The company is actively engaged in collaborative R&D projects with universities, focusing on the development of new synthesis routes and processes for various chemical products[86]. Market Position and Strategy - The company was selected for the Jiangsu Province "Specialized, Refined, and New" small giant enterprise cultivation project, reflecting its innovation and market position[3]. - The company aims to enhance its market share in oxygen-containing heterocyclic intermediates, being one of the largest suppliers of Dioxane products in China[113]. - The company has established a strategy to refine its raw material drug product structure and strengthen its position in the high-end market while maintaining cost competitiveness in the low-end market[112]. - The raw material drug market in China is experiencing a shift towards specialty raw materials, with increasing competition expected as companies transition from bulk to specialty products[110]. Risks and Challenges - The company faces risks related to raw material price fluctuations, which could adversely affect profitability if prices continue to rise[10]. - The company has a significant reliance on tax incentives for high-tech enterprises, which poses a risk if it no longer qualifies for these benefits[10]. - The company’s accounts receivable may increase due to rapid business expansion, raising the risk of bad debt losses[10]. - The ongoing COVID-19 pandemic has the potential to negatively impact overseas market activities and customer payment collections[10]. - The company faces significant competition from raw material manufacturers in developing countries, particularly India, which has increased pressure on production costs and product pricing[14]. - Regulatory changes in the pharmaceutical industry may pose risks, as the company must adapt to evolving market rules and compliance requirements[13]. - The company is exposed to tax policy risks, particularly regarding high-tech enterprise tax incentives, which could impact operations if conditions change[118]. - The company faces risks from stricter environmental regulations that may increase production costs and eliminate non-compliant enterprises[117]. Environmental Compliance - The company emphasizes environmental protection and compliance with local regulations, ensuring a positive impact on the community[91]. - The company has a wastewater treatment station with a daily processing capacity of 1,000 tons and is constructing a biochemical facility to enhance wastewater treatment capacity[95]. - The company has completed environmental impact assessments for its projects, with approvals from local environmental protection bureaus[99]. - The company has established a monitoring system for environmental compliance, including real-time data transmission to local environmental authorities[106]. Shareholder Commitments and Governance - The company commits to publicly explaining any failure to implement stock price stabilization measures and apologizing to shareholders[154]. - The controlling shareholder has committed not to interfere with the company's management or harm its interests[159]. - All directors and senior management have pledged to ensure the fulfillment of the company's return measures and not to misuse company assets[160]. - The company will actively promote profit distribution to shareholders in accordance with legal regulations and internal policies[158]. - The company has ongoing commitments regarding the handling of asset restructuring and ensuring independence in operations, assets, and finances as of July 19, 2018[145].

江苏森萱医药股份有限公司 证券代码：830946 证券简称：森萱医药 公告编号：2021-059 江苏森萱医药股份有限公司 关于接待机构投资者调研情况的公告 | --- | |--------------------------------------------------------------------| | | | 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 | | 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 | | 担个别及连带法律责任。 | 江苏森萱医药股份有限公司（以下简称"公司"）于 2021 年 11 月 19 日接 待了 4 家机构的调研，现将主要情况公告如下： 一、 调研情况 调研时间：2021 年 11 月 19 日 调研形式：腾讯会议） 调研机构：易方达基金、安信证券、东北证券、粤开证券 上市公司接待人员：董事长吴玉祥、董事会秘书兼财务负责人朱狮章 二、 调研的主要问题及公司回复概要 问题 1：请问公司原料药产品销量、成本端的变化情况如何、成本端的变 化如何化解？ 回复：公司原料药产品的销量基本平稳；在成本端受双控政策原料药涨价 的影响， ...