Financial Performance - Asymchem Laboratories reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year, representing a 15% year-over-year growth[14]. - The company's operating revenue for 2024 was ¥5,804,657,336.92, a decrease of 25.82% compared to ¥7,825,190,298.27 in 2023[6]. - The net profit attributable to shareholders for 2024 was ¥948,950,036.00, down 58.17% from ¥2,268,810,444.07 in 2023[6]. - The cash flow from operating activities for 2024 was ¥1,254,337,014.51, a decline of 64.66% compared to ¥3,549,728,383.28 in 2023[6]. - The basic earnings per share for 2024 was ¥2.69, a decrease of 57.03% from ¥6.26 in 2023[6]. - The total revenue for 2024 was approximately ¥5.80 billion, a decrease of 25.82% compared to ¥7.83 billion in 2023[59]. - Revenue from the pharmaceutical industry accounted for 99.87% of total revenue, totaling approximately ¥5.80 billion, down 25.86% from ¥7.82 billion in 2023[59]. - The company reported a total revenue of 274.4 million in the first quarter of 2023, maintaining a steady performance compared to previous periods[119]. Market Expansion and Growth Strategy - The company is focusing on market expansion, particularly in North America and Europe, aiming to increase its market share by 25% in these regions[14]. - Asymchem is optimistic about future growth, projecting a revenue increase of 10-15% for the next fiscal year[14]. - The company is actively pursuing market expansion strategies to enhance its competitive position[86]. - The company is expanding its strategic emerging business in biopharmaceuticals, focusing on CDMO and clinical CRO services[122]. - The company expects a double-digit revenue growth for the full year 2025, driven by positive signals in market conditions and business progress[100]. Research and Development - The company has invested 200 million RMB in R&D for new technologies, emphasizing its commitment to innovation[14]. - The company is actively developing new products, with 5 new drug candidates expected to enter clinical trials in the upcoming year[14]. - The company invested CNY 616 million in R&D for 2024, accounting for 10.47% of total revenue, and holds 487 authorized patents globally[46]. - The company is focusing on new product development, with a projected investment of 10 million in innovative drug solutions by June 2026[87]. - The company has a strong patent portfolio with over 200 domestic and international patents granted[121]. Operational Efficiency - The company has implemented new strategies to improve operational efficiency, aiming for a 10% reduction in production costs[14]. - The company reported a 4% increase in operational efficiency due to recent strategic adjustments[86]. - The company has established a comprehensive service platform for drug development and production, focusing on small molecules, peptides, oligonucleotides, and biologics[53]. - The company has successfully implemented continuous reaction technology, achieving production capacity increases of up to 1,500 times compared to traditional methods[45]. Environmental Compliance and Sustainability - The company has complied with various environmental protection laws and regulations, ensuring legal and compliant operations[167]. - The company has obtained and renewed its pollutant discharge permit, valid from April 10, 2024, to April 9, 2029[168]. - The company has implemented pollution control measures to ensure compliance with the relevant environmental standards[177]. - The company has been recognized as a national-level "green factory" by the Ministry of Industry and Information Technology, being the only one in Tianjin to receive this designation[181]. - The company emphasizes sustainable development and aims to enhance environmental management performance continuously[182]. Governance and Shareholder Relations - The company has established a robust governance structure, complying with relevant laws and regulations, ensuring no significant discrepancies exist[1]. - The company actively engages with investors through various channels, ensuring transparent communication and protection of minority shareholders' rights[10]. - The board of directors consists of 9 members, including 3 independent directors, and held 15 meetings during the reporting period[2]. - The company has established measures to ensure that no unfair benefits are provided to other entities or individuals[200]. - The company has committed to ensuring the normal progress of the raised funds investment projects while temporarily supplementing working capital[89]. Employee Engagement and Compensation - The company emphasizes a comprehensive compensation system that includes fixed salaries, short-term and long-term incentives, and employee benefits to enhance employee engagement[145]. - The employee stock ownership plan (ESOP) includes 588 employees holding a total of 4,429,800 shares, representing 1.20% of the company's total equity[156]. - The company has implemented a multi-faceted training program to improve employee skills and efficiency, supporting both management and technical career development[146]. - The company has a total of 9,595 employees, with 4,653 in R&D and analysis roles, indicating a strong focus on innovation[144]. Strategic Investments and Acquisitions - Asymchem is exploring potential acquisitions to enhance its capabilities, with a target of completing at least one acquisition in the next 12 months[14]. - The company is actively involved in market expansion and strategic acquisitions to enhance its competitive position[122]. - The company is committed to building a closed industrial chain and becoming a recognized technology-leading international pharmaceutical outsourcing service provider[8]. Financial Management and Cash Flow - The company has reported a significant increase in financing cash outflow by 171.84% to ¥1,928,186,600.16, primarily due to stock repurchases[73]. - The company’s total investment in 2024 was ¥11,537,049,278.63, a decrease of 62.21% compared to ¥30,530,783,640.41 in the previous year[80]. - The company has a total of 354,879,400 shares eligible for profit distribution after excluding repurchased shares[149]. - The company has implemented a stock repurchase plan, with a total of 1,753,430 shares of restricted stock being repurchased and canceled[153].

政策红利与产业升级 从政府工作报告看中国创新药 及CXO行业战略机遇 据《2024年度中国生物医药投融资蓝皮书》，2024年共有19家中国生物医药企业完成IPO，其A股6 家、港股11家、美股2家，总募资127.73亿元人民币，同比下滑超50%，IPO数量较前一年减少10家，生 物医药IPO市场降温态势明显。而2024年A股上市的6家生物医药企业中，也并没有属于严格定义的创新 研发型企业。 全景网注意到，2025年，多个政策不断支持医药创新驱动和行业现金流改善，集采已经全面化，同 时，经过两院合编后正式提交的美国2025年度国防授权法案（NDAA）并未包含《生物安全法案》。叠 加AI制药技术的突破性进展，极大地推动了创新药的研发和产业链的拓展。 专业人士指出，从近期创新药企所发布的财报数据来看，创新药研发已步入密集收获期。百济神州 （688235.SH、06160.HK）2024年全年总收入达38亿美元，同比增长55%；GAAP经营亏损持续收窄， 首次实现全年非GAAP经营利润为正。 再鼎医药（09688.HK）发布业绩报告，2024年第四季度销售收入超过1亿美元，全年总收入近4亿 美元，分别同比增长66%、 ...

Financial Performance - The company expects net profit attributable to shareholders to be between CNY 850 million and CNY 1.05 billion, a decrease of 54%-63% compared to the previous year[3]. - The projected operating revenue for 2024 is between CNY 5.8 billion and CNY 6 billion, representing a decline of 23%-25% year-on-year[5]. - The basic earnings per share are estimated to be between CNY 2.50 and CNY 3.00, down from CNY 6.26 in the same period last year[3]. Revenue Growth and Orders - The company achieved a year-on-year revenue growth of approximately 20% in Q4 2024, despite an overall decline in annual revenue[5]. - New orders signed throughout the year increased by approximately 20%, with growth in orders from European and American markets exceeding the overall order growth rate[6]. - The small molecule CDMO business showed a year-on-year growth of about 11% after excluding the impact of large orders from the previous year[5]. Emerging Business and Capacity Utilization - The emerging business revenue declined, and some segments are still ramping up, leading to lower capacity utilization and reduced gross margins[6]. - The company continues to invest heavily in new technology research and development, resulting in increased R&D expenses[6]. Business Trends and Developments - The chemical macromolecule business is showing positive trends in areas such as peptides, nucleic acids, and ADCs, with Q4 revenue accounting for over 45% of total annual revenue[6]. - The company’s UK Sandwich site began operations in the second half of the year and is currently in the ramp-up phase[6].

Financial Performance - In Q3 2024, Asymchem Labs reported revenue of CNY 1.44 billion, a decrease of 18.09% year-over-year, and a total revenue of CNY 4.14 billion for the first three quarters, down 35.14% year-over-year[3]. - The net profit attributable to shareholders was CNY 211.19 million in Q3 2024, a decline of 59.68% year-over-year, with a total net profit of CNY 710.33 million for the first three quarters, down 67.86% year-over-year[3]. - Total revenue for Q3 2024 was approximately RMB 4.14 billion, a decrease of 35.14% compared to RMB 6.38 billion in Q3 2023, primarily due to the absence of large orders delivered in the same period last year[7]. - Operating profit for Q3 2024 was approximately RMB 761.46 million, down 69.41% from RMB 2.49 billion in Q3 2023, mainly due to the decrease in revenue[7]. - The net profit for Q3 2024 was approximately ¥700.18 million, a significant decrease of 68.2% compared to ¥2.20 billion in Q3 2023[18]. - Basic and diluted earnings per share for Q3 2024 were both ¥2.01, down from ¥6.10 in Q3 2023[19]. - The total comprehensive income for Q3 2024 was approximately ¥698.37 million, a decrease of 68.4% from ¥2.21 billion in Q3 2023[19]. Profitability and Margins - The company achieved a gross profit margin of 43.60% for the first three quarters, with a decrease of 1.02 percentage points year-over-year, while the gross margin for small molecule business was 48.89%, an increase of 1.19 percentage points year-over-year[4]. - The small molecule business generated revenue of CNY 3.39 billion in the first three quarters, with a year-over-year growth of 7.71% after excluding large orders[4]. - Operating revenue for the current period was 4.14 billion yuan, down 35.1% from 6.38 billion yuan in the previous period[17]. - Total operating costs decreased from 4.05 billion yuan to 3.42 billion yuan, a decline of about 15.6%[17]. Cash Flow and Investments - The company's cash flow from operating activities for the first three quarters was CNY 1.05 billion, down 63.24% year-over-year[3]. - Cash inflow from operating activities was ¥4.98 billion, down 28.3% from ¥6.94 billion in the previous year[20]. - The total cash outflow from investing activities was ¥9,830,165,531.45, down from ¥20,999,540,521.49 in the same period last year[21]. - The cash inflow from investment activities was ¥8,739,043,535.13, down from ¥20,104,491,861.56 in Q3 2023[21]. - The company invested approximately RMB 240 million in industry funds, representing a 390.99% increase compared to RMB 48.88 million in the same period last year[7]. Assets and Liabilities - The total assets of Asymchem at the end of Q3 2024 were CNY 18.70 billion, a decrease of 5.41% compared to the end of the previous year[3]. - Total current assets decreased from 12.35 billion yuan to 10.61 billion yuan, a reduction of approximately 14.1%[15]. - Cash and cash equivalents decreased from 7.11 billion yuan to 5.20 billion yuan, a decline of about 26.7%[14]. - Total liabilities decreased from 2.26 billion yuan to 2.06 billion yuan, a reduction of approximately 9%[16]. - The company's total equity decreased from 17.51 billion yuan to 16.63 billion yuan, a reduction of about 5%[16]. Shareholder Information - The top shareholder, ASYMCHEM LABORATORIES, holds 31.31% of the shares, totaling 115,133,168 shares[8]. - The total number of ordinary shareholders at the end of the reporting period was 53,290[8]. - The company repurchased a total of 12,300,701 shares, accounting for 3.60% of the total A-share capital, with a total expenditure of approximately RMB 999.64 million[12]. - The company plans to continue its stock repurchase program with a total fund not less than RMB 600 million and not exceeding RMB 1.2 billion[12]. - The company plans to increase its A-share holdings by at least 20 million yuan, reflecting confidence in its future development and value recognition by key personnel[13]. Research and Development - Research and development expenses for the current period were 484.14 million yuan, compared to 513.11 million yuan in the previous period, a decrease of approximately 5.7%[17]. - Asymchem's peptide production capacity exceeded 20,000L by the end of the reporting period, supporting the demand for commercial production of solid-phase peptides[4]. - The company signed multiple commercial orders for GLP-1 peptides with domestic clients, indicating a strong market demand[4]. Other Financial Metrics - Interest income increased by 59.89% to approximately RMB 167.38 million, attributed to higher returns from fixed deposits[7]. - The company reported a decrease in investment income, which fell to ¥27.60 million from ¥108.55 million, a decline of 74.6% year-over-year[18]. - The company experienced a foreign exchange loss of ¥1.81 million in Q3 2024, contrasting with a gain of ¥9.86 million in Q3 2023[19]. - The company did not undergo an audit for the Q3 report[22]. - The report was released by the board of directors on October 29, 2024[22].

Financial Performance - Total revenue for the first half of 2024 was RMB 2,655.05 million, a decrease of 42.23% compared to RMB 4,595.71 million in the same period of 2023[12]. - Gross profit for the first half of 2024 was RMB 1,094.70 million, down 54.89% from RMB 2,426.69 million year-on-year[12]. - Net profit attributable to shareholders for the first half of 2024 was RMB 499.13 million, a decline of 70.40% compared to RMB 1,686.37 million in the previous year[12]. - The company reported a gross margin of 41.23% for the first half of 2024, which is a decrease of 11.57 percentage points from 52.80% in the same period last year[12]. - The adjusted net profit attributable to shareholders was RMB 432.72 million, reflecting a 73.56% decrease from RMB 1,636.43 million year-on-year[12]. - The company's revenue for the reporting period was RMB 1,282.25 million, a decrease of 58.59% year-on-year, but a 10.29% increase when excluding the impact of large orders[17]. - Revenue from small and medium-sized companies in the first half of 2024 was RMB 1,372.80 million, down 8.44% year-on-year, with over 1,100 active global customers served[17]. - Overseas business revenue for the company was RMB 1,965.94 million, a decrease of 48.72% year-on-year, but a 3.45% increase when excluding large orders[17]. - Revenue from U.S. customers was RMB 1,741.52 million, showing a significant year-on-year growth of 24.78% when excluding large orders[18]. - The company confirmed revenue from 310 clinical stage projects, generating RMB 787.69 million, a decrease of 7.82% year-on-year[40]. - The company reported total comprehensive income of RMB 498,891 thousand for the six months ended June 30, 2024, compared to RMB 1,693,831 thousand in 2023, reflecting a decrease of 70.6%[166]. Revenue Breakdown - Revenue from small molecule CDMO services was RMB 2,153.42 million, showing a slight increase of 1.09% year-on-year after excluding large orders[14]. - Revenue from emerging business segments was RMB 499.62 million, down 5.30% year-on-year due to a lack of recovery in domestic biopharmaceutical financing[14]. - Revenue from commercialized CDMO solutions was RMB 1,365.73 million, a decline of 57.44% year-on-year, but a growth of 7.06% after excluding large orders[39]. - Revenue from clinical and preclinical CDMO solutions was RMB 787,694,000, a decrease of 7.8% from RMB 854,544,000 in the previous year[186]. - Revenue from commercial stage CDMO solutions was RMB 1,365,725,000, down 57.5% from RMB 3,209,311,000 in the same period last year[186]. - Revenue from emerging businesses was RMB 499,615,000, a slight decrease of 5.3% from RMB 527,592,000 in the previous year[186]. Operational Highlights - The company added 114 new customers during the reporting period, highlighting its operational strength and solid global customer base[14]. - The company aims to further expand its scale despite the termination of large orders, indicating a commitment to growth[14]. - The company is focusing on expanding its customer base and enhancing service depth, particularly in the U.S., Europe, and China markets[24]. - The company anticipates 28 projects to reach the verification batch stage in the second half of 2024, providing strong support for long-term growth[23]. - The company has established partnerships with 16 out of the top 20 global pharmaceutical companies, with 8 of these relationships lasting over 10 years, indicating strong customer loyalty and retention[77]. Research and Development - The company invested RMB 328.69 million in R&D during the first half of 2024, an increase of 1.61% year-on-year, representing 12.38% of total revenue[38]. - Research and development expenses for the period were RMB 328,688 thousand, slightly up from RMB 323,471 thousand in 2023, indicating a focus on innovation despite overall revenue decline[165]. - The company has introduced a tailored talent strategy for each major business segment, hiring 60 senior talents in the first half of 2024, including 33 PhDs[35]. - The company is committed to continuous innovation and has developed internationally recognized patented technologies that are now applied in commercial manufacturing[81]. - The company aims to increase R&D investment to strengthen its research platform and promote smart manufacturing technologies[90]. Financial Position - Cash and bank balances decreased by RMB 1,431.06 million or 20.13% compared to June 30, 2023, primarily due to share repurchases[56]. - The company had no bank borrowings as of June 30, 2024, compared to RMB 12.23 million as of December 31, 2023[56]. - As of June 30, 2024, the company's current assets include inventory of RMB 997,959 thousand, an increase of 5.57% from RMB 945,347 thousand as of December 31, 2023, primarily due to fluctuations from continuous order deliveries[57]. - Trade receivables decreased by 26.23% to RMB 1,483,415 thousand from RMB 2,010,989 thousand, mainly due to the collection of accounts receivable[57]. - The company's total liabilities to total assets ratio increased to 12.76% as of June 30, 2024, from 11.42% as of December 31, 2023[66]. Corporate Governance - The company has complied with the corporate governance code and has not identified any violations by employees during the reporting period[153]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[155]. - The board believes that having the same person serve as both Chairman and CEO will enhance the effective execution of strategic initiatives and improve communication between management and the board[154]. - The company has not faced any investigations or administrative penalties from the China Securities Regulatory Commission during the reporting period[156]. - The company will continue to review and assess the effectiveness of its corporate governance framework[154]. Future Outlook - The company aims to enhance its CDMO services by incorporating advanced drug categories, including peptides, oligonucleotides, and mRNA[76]. - The company is committed to becoming a reliable partner in the global pharmaceutical industry, providing comprehensive CDMO services throughout the drug development lifecycle[76]. - The company plans to enhance its talent acquisition and retention strategies to ensure consistent high-quality service delivery, including tailored training programs and competitive compensation[86]. - The company is currently assessing the impact of the second pillar income tax legislation on its future financial performance, indicating a proactive approach to regulatory changes[190]. - The company plans to utilize the raised funds for various projects, with specific timelines for completion ranging from 2025 to 2026[136][137][138][139].

Financial Performance - For the six months ended June 30, 2024, total revenue was RMB 2,655.05 million, a decrease of 42.23% compared to RMB 4,595.71 million in the same period last year[6]. - Gross profit for the same period was RMB 1,094.70 million, down 54.89% from RMB 2,426.69 million, resulting in a gross margin of 41.23%, a decline of 11.57 percentage points[6]. - Net profit attributable to shareholders was RMB 499.13 million, a significant drop of 70.40% from RMB 1,686.37 million, with a net profit margin of 18.80%, down 17.89 percentage points[6]. - The company reported an adjusted net profit of RMB 432.72 million, down 73.56% year-on-year, with an adjusted net profit margin of 16.30%, a decrease of 19.31 percentage points[6]. - In the first half of 2024, the net profit decreased by 70.72% to RMB 492.42 million from RMB 1,681.99 million in the same period of 2023[69]. - Basic and diluted earnings per share fell from RMB 4.65 to RMB 1.40, reflecting the decline in net profit[70]. - The total comprehensive income for the period was RMB 498,891 thousand, down 70.7% from RMB 1,693,831 thousand in 2023[181]. Revenue Breakdown - Revenue from small molecule CDMO services was RMB 2,153.42 million, showing a slight increase of 1.09% after excluding large orders[9]. - Revenue from multinational pharmaceutical companies decreased by 58.59% to RMB 1,282.25 million, but increased by 10.29% when excluding the impact of large orders[12]. - Revenue from U.S. clients was RMB 1,741.52 million, reflecting a significant increase of 24.78% after excluding large orders[14]. - Emerging business revenue for the reporting period was RMB 499.62 million, a decrease of 5.30%, with a gross margin of 20.23%, down 13.14 percentage points year-over-year[25]. - Revenue from commercial CDMO solutions was RMB 1,365.73 million, down 57.44% year-on-year, but grew 7.06% when excluding large orders[54]. - Revenue from domestic (China) operations decreased by 9.28% to RMB 687.09 million, while overseas revenue fell by 48.72% to RMB 1,965.94 million[56]. Operational Highlights - The company added 114 new clients during the reporting period, highlighting its operational strength and solid global customer base[9]. - The company has successfully completed 43 small molecule commercialization projects, generating revenue of RMB 1,365.72 million and achieving a gross margin of 49.31%[17]. - The company is focusing on potential blockbuster projects in clinical phase III, including targets like GLP-1 and KRAS, with 28 projects expected to reach the verification batch stage in the second half of 2024[21]. - The company completed 80 formulation CDMO projects during the reporting period, with 150 ongoing projects, including 36 overseas projects[29]. - The company has successfully implemented multiple formulation technologies, including oral delivery for peptides and solid dispersion technology, enhancing bioavailability and expanding international market reach[30]. Research and Development - The company invested RMB 328.69 million in R&D in the first half of 2024, an increase of 1.61% year-on-year, accounting for 12.38% of total revenue[52]. - The company is expanding its peptide commercialization capacity to meet the demand for solid-phase peptide synthesis at the hundred-kilogram level[43]. - The company plans to continue increasing R&D investment to strengthen its research platform capabilities and promote smart manufacturing technologies[110]. - The company has submitted 13 new patents and received 21 new authorized patents, reflecting strong capabilities in independent innovation and IP protection[33]. Market Strategy - The company aims to strengthen its CDMO products and services, expanding into advanced drug categories such as peptides, oligonucleotides, and mRNA solutions[95]. - The company is actively expanding its global customer base by deepening relationships with existing clients and targeting small to medium-sized innovative drug companies[102]. - The company is diversifying into new drug categories and service types, including large molecules, drug formulation services, and clinical research services, to create new growth pathways[103]. - The company is seeking investments to enrich its service offerings and expand its overseas presence, with a focus on strategic overseas capacity expansion[104]. Financial Position - The total assets as of June 30, 2024, were RMB 18,858.65 million, a decrease of 4.60% from RMB 19,767.16 million at the end of 2023[6]. - The company's total equity decreased to RMB 16,453,042 thousand from RMB 17,509,979 thousand at the end of 2023[184]. - Cash and bank balances decreased by RMB 1,431.06 million or 20.13% to RMB 5,670.94 million as of June 30, 2024, primarily due to share repurchases[71]. - The company reported a long-term equity investment loss of RMB 5.46 million, up from a loss of RMB 3.03 million in the first half of 2023[76]. - The company's debt-to-asset ratio was 12.76%, up from 11.42% on December 31, 2023[84]. Corporate Governance - The company has adhered to the corporate governance code and has not identified any violations by employees during the reporting period[170]. - The roles of Chairman and CEO are held by Dr. Hao Hong, ensuring effective execution of strategic initiatives and communication between management and the board[171]. - The audit committee has reviewed the unaudited interim results for the six months ending June 30, 2024, ensuring compliance with relevant accounting standards and regulations[177]. - Ernst & Young has conducted a review of the interim financial information, but no audit opinion has been issued as per the applicable standards[178]. Shareholder Engagement - The company has two active A-share incentive plans, with a total of 4,539,080 restricted A-shares granted to participants[120]. - The A-share incentive plans aim to attract and retain talent, aligning the interests of shareholders, the company, and operators for sustainable development[115]. - The company has repurchased a total of 12,300,701 A-shares, accounting for 3.5976% of the total A-share capital, with a total expenditure of RMB 999,644,601.56[139]. - The company plans to use up to 60% of repurchased A-shares for employee stock ownership or incentive plans, and at least 40% for capital reduction[137].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the first half of 2024, representing a year-on-year growth of 15%[8]. - The company's operating revenue for the first half of 2024 was ¥2,697,352,097, a decrease of 41.63% compared to ¥4,621,510,379 in the same period last year[13]. - Net profit attributable to shareholders was ¥499,131,293, down 70.40% from ¥1,686,368,977 in the previous year[13]. - Basic and diluted earnings per share were both ¥1.40, representing a decline of 69.89% from ¥4.65 in the same period last year[13]. - The company reported a total comprehensive income for the first half of 2024 of CNY 498,889,827.52, down from CNY 1,693,832,155.65 in the first half of 2023[164]. - The company’s cash flow from operating activities showed a significant decline, impacting overall liquidity and future investment capabilities[163]. Strategic Focus and Innovation - Asymchem Laboratories reported a significant focus on innovation and commercialization in pharmaceutical processes, serving large and medium-sized pharmaceutical and biotechnology companies globally[2]. - The company is actively engaged in research and development of new products and technologies to enhance its service offerings[2]. - The R&D pipeline includes 5 new drug candidates expected to enter clinical trials by the end of 2024, focusing on oncology and autoimmune diseases[8]. - A strategic acquisition of a small biotech firm specializing in mRNA technology is anticipated to enhance the company's capabilities in innovative drug development[8]. - The company aims to provide a full range of continuous reaction technology services to support the pharmaceutical, agricultural, and materials industries[21]. Market Expansion - User data indicates that the company has expanded its client base, now serving over 300 pharmaceutical and biotechnology companies globally, an increase of 20% compared to the previous year[8]. - The company is expanding its market presence in Europe and North America, with plans to establish new facilities in Germany and the US by 2025[8]. - The company is expanding its global footprint, with the first R&D and pilot base in Europe now operational, and added 114 new order clients during the reporting period[24]. Financial Management and Investments - The company plans not to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment[2]. - The total investment amount during the reporting period was RMB 7,480,865,984.45, a decrease of 60.95% compared to RMB 19,234,162,939.40 in the same period last year[50]. - The company has invested RMB 6,551.69 million in the biopharmaceutical R&D and production integration base project, achieving 100% investment progress[56]. Risk Management - The report highlights potential risks including the recall of major innovative drugs and operational risks in clinical projects[2]. - The company is navigating uncertainties in international trade and currency fluctuations, which may impact operations[2]. - The company is actively managing risks associated with core technical personnel turnover, emphasizing employee engagement and incentive programs[68]. Environmental Commitment - The company maintains a strong commitment to sustainability, with initiatives aimed at reducing carbon emissions by 30% by 2025[8]. - The company has established a comprehensive cGMP standard quality system to ensure compliance with international pharmaceutical standards[71]. - The company has implemented green chemistry technologies to reduce waste emissions and enhance production safety, achieving stable compliance in waste water and gas emissions[72]. - The company is recognized as one of the first national "green factories" by the Ministry of Industry and Information Technology, highlighting its leadership in environmental management[94]. Employee Engagement and Governance - The company emphasizes a "people-oriented" management philosophy, enhancing employee engagement through stock incentives and competitive compensation systems[72]. - A total of 588 employees participated in the employee stock ownership plan, holding 4,429,800 shares, which represents 1.20% of the company's total equity[79]. - The company has approved the repurchase and cancellation of 101,780 restricted A-shares due to the departure of three incentive recipients[77]. Compliance and Reporting - The financial report for the first half of 2024 covers the period from January 1 to June 30, 2024, ensuring transparency and compliance with regulatory standards[5]. - The company emphasizes its commitment to maintaining accurate and complete financial reporting, with all board members present for the review[1]. - The company's financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and accuracy[184].

Financial Performance - The company expects net profit attributable to shareholders to be between 480 million and 550 million yuan, representing a year-on-year decline of 67.39% to 71.54%[3]. - Revenue for the first half of 2024 is projected to be between 2.66 billion and 2.74 billion yuan, a year-on-year decrease of 40.72% to 42.45%[4]. - The basic earnings per share are estimated to be between 1.36 yuan and 1.56 yuan, compared to 4.65 yuan per share in the same period last year[3]. - The decline in revenue is primarily due to the absence of large orders delivered in the same period last year[4]. - Emerging business revenue has declined due to lower-than-expected recovery in domestic biopharmaceutical financing[4]. Business Growth and Strategy - Despite challenges, the company has seen a more than 20% year-on-year increase in new orders, with significant growth in the second quarter compared to the first[5]. - The company continues to invest in new technology research and development, maintaining a similar scale of R&D expenses compared to last year[5]. - The company is accelerating its overseas expansion and peptide production capacity construction[5]. - The company emphasizes that the trend of specialization in the international pharmaceutical industry remains unchanged, presenting new opportunities in drug categories like peptides and ADCs[5]. Future Reporting - Detailed financial data will be disclosed in the company's 2024 semi-annual report[6].

Financial Performance - The company reported total revenue of RMB 1,399,808,311.93 for Q1 2024, a decrease of 37.76% compared to RMB 2,249,034,497.62 in the same period last year[10]. - Net profit attributable to shareholders was RMB 281,970,252.06, down 55.27% from RMB 630,346,004.43 year-on-year[10]. - The net profit after deducting non-recurring items was RMB 253,974,228.11, reflecting a 58.88% decline compared to RMB 617,637,901.61 in the previous year[10]. - Basic and diluted earnings per share were both RMB 0.76, down 55.81% from RMB 1.72 in the same period last year[10]. - Total revenue for Q1 2024 was approximately ¥1.40 billion, a decrease of 37.76% compared to ¥2.25 billion in Q1 2023, primarily due to the impact of large orders in the same period last year[18]. - Operating profit decreased to RMB 294.69 million, a decline of 58.5% compared to RMB 709.95 million in the prior period[38]. - Net profit for the reporting period was RMB 279.53 million, down 55.5% from RMB 627.89 million in the previous period[40]. - Total revenue for the reporting period was RMB 1.40 billion, down 37.8% from RMB 2.25 billion in the previous period[38]. - The company reported a net loss attributable to the parent company of RMB 281,971,000 in Q1 2024, compared to a profit of RMB 630,346,000 in Q1 2023[47]. Revenue Breakdown - Revenue from small molecule business reached RMB 1,223,000,000, with a year-on-year growth of 26.58% after excluding last year's large order impact[13]. - Revenue from emerging businesses was RMB 176,000,000, down 29.30% year-on-year due to the ongoing impact of the domestic investment environment[13]. - Cash received from sales of goods and services was approximately ¥1.74 billion, down 36.76% from ¥2.76 billion in the previous year, influenced by large order repayments from last year[18]. Costs and Expenses - Total costs for Q1 2024 were approximately ¥1.14 billion, down 27.27% from ¥1.57 billion in Q1 2023, mainly due to the decline in revenue[18]. - Sales expenses increased by 31.95% to approximately ¥44.62 million, reflecting continued investment in market expansion and sales activities[18]. - The company reported a significant increase in tax and additional charges, which rose by 374.77% to approximately ¥41 million, attributed to export tax rebates[18]. - Research and development expenses for the period were RMB 169.44 million, an increase from RMB 162.10 million in the previous period[38]. - Research and development expenses for Q1 2024 were RMB 169,442,000, slightly higher than RMB 162,097,000 in Q1 2023[47]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 19,841,423,232.54, a slight increase of 0.38% from RMB 19,767,158,652.70 at the end of the previous year[10]. - Total current assets decreased to RMB 12.11 billion from RMB 12.35 billion, primarily due to a reduction in trading financial assets[31]. - The company reported a total liability of RMB 2.23 billion, slightly down from RMB 2.26 billion at the beginning of the period[35]. - The company’s total equity as of March 31, 2024, was RMB 17,606,958,000, an increase from RMB 17,509,979,000 at the end of the previous year[55]. Cash Flow and Investments - Net cash flow from operating activities for the reporting period was RMB 490,666,474.36, significantly lower than RMB 1,303,525,263.66 in the previous period[44]. - Cash and cash equivalents at the end of Q1 2024 totaled RMB 4,774,669,819.21, down from RMB 5,379,198,112.41 at the end of the previous year[45]. - The cash flow from investing activities showed a net outflow of RMB 284,603,126.59, compared to a net outflow of RMB 327,218,213.85 in the previous period[44]. - The company experienced a foreign exchange gain of RMB 15,685,123.62 during the reporting period, contrasting with a loss of RMB 15,286,791.15 in the previous period[45]. - The company experienced a net cash outflow from investing activities of RMB 284,603 thousand in Q1 2024, compared to RMB 327,218 thousand in Q1 2023[59]. Share Repurchase and Capital Management - The company repurchased shares, resulting in cash payments of approximately ¥218.69 million, marking a new strategy in capital management[18]. - The company plans to repurchase shares with a total fund amount not less than RMB 600 million and not exceeding RMB 1.2 billion, with a repurchase price not exceeding RMB 157 per share[29]. - The financing activities resulted in a net cash outflow of RMB 218,690 thousand in Q1 2024, with share repurchase payments amounting to RMB 213,367 thousand[59]. Project Development - The company confirmed 30 small molecule commercialization projects and 148 clinical stage projects, including 41 in Phase III[13].

Financial Performance - Total revenue for Q1 2024 was RMB 1.40 billion, a decrease of 37.76% compared to RMB 2.25 billion in the same period last year[6] - Net profit attributable to shareholders was RMB 281.97 million, down 55.27% from RMB 630.35 million year-on-year[6] - Basic and diluted earnings per share were both RMB 0.76, a decrease of 55.81% compared to RMB 1.72 in the previous year[6] - In Q1 2024, the company's net profit was approximately ¥279.53 million, a decrease of 55.5% compared to ¥627.89 million in the same period last year[24] - Operating profit for Q1 2024 was approximately ¥294.69 million, compared to ¥709.95 million in Q1 2023, reflecting a decline of 58.5%[24] - The company reported a total comprehensive income of approximately ¥279.82 million in Q1 2024, compared to ¥622.76 million in Q1 2023[24] Revenue Breakdown - Revenue from small molecule business reached RMB 1.22 billion, with a year-on-year growth of 26.58% after excluding the impact of large orders from the previous year[8] - Revenue from emerging businesses was RMB 176 million, a decline of 29.30% year-on-year due to the ongoing impact of the domestic investment and financing environment[8] - Total operating revenue for the first quarter was CNY 1,399,808,311.93, a decrease of 37.8% compared to CNY 2,249,034,497.62 in the previous period[23] Cash Flow and Liquidity - Cash flow from operating activities was RMB 490.67 million, down 62.36% from RMB 1.30 billion in the same period last year[6] - Total cash and cash equivalents at the end of Q1 2024 were approximately ¥4.77 billion, down from ¥5.38 billion at the end of Q1 2023[26] - The company received cash from operating activities totaling approximately ¥1.87 billion in Q1 2024, down from ¥2.86 billion in the previous year[25] - Cash flow from investing activities in Q1 2024 was negative at approximately -¥284.60 million, compared to -¥327.22 million in Q1 2023[26] Assets and Liabilities - The total assets at the end of the reporting period were RMB 19.84 billion, a slight increase of 0.38% from RMB 19.77 billion at the end of the previous year[6] - Total liabilities decreased to CNY 2,234,464,626.88 from CNY 2,257,179,887.55, indicating a reduction in financial obligations[22] - The company’s equity attributable to shareholders rose to CNY 17,578,908,929.36 from CNY 17,479,716,341.34, reflecting growth in shareholder value[22] Shareholder Information - The top 10 shareholders hold significant stakes, with ASYMCHEM LABORATORIES owning 31.16% and HKSCC NOMINEES LIMITED holding 7.46% of the shares[15] - The company reported a total of 115,133,168 shares held by ASYMCHEM LABORATORIES, representing the largest single shareholder[15] - The company has a total of 6,555,504 shares held by Tianjin Guorong Business Consulting Co., Ltd., which is involved in margin trading[16] - The company has established a stock repurchase plan approved in the recent shareholder meetings, indicating a commitment to enhancing shareholder value[18] Strategic Initiatives - The company is accelerating its overseas capacity layout and enhancing operational management systems to improve overall profitability[7] - The report indicates that the company is actively engaging in market expansion and strategic initiatives, including potential mergers and acquisitions[18] - The company plans to repurchase A-shares with a total fund amount not less than RMB 600 million and not exceeding RMB 1.2 billion, with a repurchase price capped at RMB 157 per share[18] - The company plans to expand its market presence and invest in new product development to drive future growth[21] Research and Development - The report highlights the company's ongoing research and development efforts in new products and technologies, although specific details were not disclosed[18] - Research and development expenses were CNY 169,442,435.66, slightly up from CNY 162,096,744.48, indicating continued investment in innovation[23]