Financial Performance - The company reported a significant increase in revenue for the first half of 2020, achieving a total of 1.2 billion RMB, representing a growth of 25% year-over-year[8]. - The company's operating revenue for the first half of the year was ¥495,964,161.43, a decrease of 36.85% compared to the same period last year[14]. - The net profit attributable to shareholders was ¥27,527,226.38, down 84.92% year-on-year[16]. - The net cash flow from operating activities decreased by 69.24% to ¥40,571,127.56 compared to the previous year[16]. - Basic and diluted earnings per share were both ¥0.15, reflecting a decline of 86.84% from the same period last year[15]. - The overall gross profit margin for the reporting period was 77.21%, stable compared to 76.62% in the same period last year[51]. - The company reported a total revenue of 44,275.00 million RMB for the first half of 2020, with a net profit of 3,005.87 million RMB, representing a significant increase in performance[42]. Research and Development - The proportion of R&D investment to operating revenue increased by 4.88 percentage points to 11.41%[15]. - The company continues to focus on R&D in medical materials and technologies, particularly in the fields of ophthalmology and orthopedic treatments[21]. - Research and development expenses for the reporting period amounted to CNY 56,573,002.69, representing an increase of 10.24% compared to the previous year, with R&D expenses accounting for 11.41% of total revenue[39]. - The R&D team consists of 274 personnel, accounting for 19.97% of the total workforce, with an average salary of 125,774.48 RMB[43]. - The company continues to invest in R&D for new technologies and products, collaborating with renowned universities and research institutions[33]. Market Expansion and Product Development - The company has outlined a positive outlook for the second half of 2020, projecting a revenue growth of 30% compared to the first half[8]. - New product development includes the launch of a novel hyaluronic acid injection, expected to contribute an additional 200 million RMB in revenue by the end of the year[8]. - The company is actively pursuing market expansion strategies, targeting new regions in Southeast Asia, with an estimated investment of 100 million RMB for market entry[8]. - The company has established long-term stable partnerships with major medical aesthetic institutions, with its hyaluronic acid products "Haiwei" and "Jiaolan" recognized by consumers, ranking among the top in market share[30]. - The company has increased its market share in orthopedic joint cavity injection products from 39.67% to 42.06% over six years[32]. Financial Integrity and Governance - The company has reported no non-operational fund occupation by controlling shareholders, ensuring financial integrity[4]. - The board has confirmed that there are no significant changes in corporate governance arrangements during the reporting period[4]. - The company has not proposed any profit distribution plan for the reporting period, focusing on reinvestment for growth[4]. - There are no undisclosed related party transactions between the company and its subsidiaries, ensuring compliance with relevant laws and regulations[101]. - The company has pledged to avoid any form of fund occupation from its subsidiaries, maintaining financial integrity[101]. Investment and Acquisitions - The company has completed the acquisition of a biotechnology firm, which is anticipated to enhance its R&D capabilities and add 150 million RMB to annual revenue[8]. - The company has engaged in multiple upstream and downstream acquisitions to enhance its industry chain layout, which may affect goodwill valuation[71]. - The company has filed 13 new invention patent applications during the reporting period, reflecting its commitment to innovation[38]. Challenges and Risks - The company faced significant impacts on sales due to strict pandemic control measures, affecting both domestic and overseas operations[16]. - Increased market competition may impact the company's market share and profitability in the long term[70]. - Regulatory changes in the pharmaceutical and medical device sectors could increase compliance costs and reduce product demand[72]. Environmental and Compliance - The company emphasizes strict compliance with environmental regulations and aims to control and reduce pollutant generation from the source[106]. - The company maintained compliance with environmental regulations, with all pollutants meeting discharge standards and no environmental accidents reported during the reporting period[107]. Shareholder Information - The company reported a total of 164.9 million shares of domestic stock held by major shareholders, with a lock-up period of 36 months from the date of listing on the Shanghai Stock Exchange[99]. - The company has committed to not transferring or entrusting the management of its shares for 12 months post-listing, ensuring stability in shareholding[99]. - The company has a total of 28,800,000 shares held by shareholder You Jie, representing 16.19% of the total shares[125]. Investment Funds and Strategies - The company reported a total of 2,711 million in various investment funds as of April 30, 2020, indicating stable fund management performance[114]. - The investment funds listed include multiple flexible allocation mixed funds, all maintaining a consistent value of 2,711 million, reflecting strong investor confidence[115]. - The company is actively managing its investment strategies to adapt to market conditions, which is essential for maintaining competitive performance[115].

Financial Performance - Operating revenue for the period was CNY 153,614,830.20, representing a decline of 50.81% year-on-year [4]. - Net profit attributable to shareholders was a loss of CNY 24,855,428.82, a decrease of 137.33% compared to the same period last year [4]. - The net cash flow from operating activities was negative CNY 54,461,823.95, a significant decline of 1,450.97% year-on-year [4]. - Basic and diluted earnings per share were both -CNY 0.14, a decrease of 133.33% compared to the same period last year [4]. - The company's net profit attributable to shareholders was CNY -24.86 million, a decline of 137.33% compared to the previous year [15]. - The company reported a significant drop in sales due to the COVID-19 pandemic, with approximately 70% of revenue coming from mainland China [17]. - The company expects a potential significant change in net profit compared to the previous year due to the ongoing impact of the pandemic [22]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,014,270,430.54, a decrease of 2.24% compared to the end of the previous year [4]. - Total current assets amounted to ¥2,662,575,569.56, down from ¥2,772,472,546.50, reflecting a decrease of about 4.0% [27]. - Total liabilities decreased to ¥148,211,316.63 from ¥177,729,022.12, indicating a decline of about 16.6% [29]. - Total equity attributable to shareholders decreased to ¥4,280,337,123.60 from ¥4,287,888,951.10, a slight decrease of approximately 0.2% [29]. Revenue Breakdown - The revenue from ophthalmic products was CNY 74.61 million, accounting for 48.70% of the main business revenue, down 52.85% year-on-year [16]. - The revenue from the aesthetic and wound care products dropped significantly, with a decline of 63.69% year-over-year, totaling CNY 21.47 million [17]. - The orthopedic products revenue decreased by 48.87% year-over-year, amounting to CNY 26.09 million [17]. - The company's operating revenue for the first quarter was CNY 153.61 million, a decrease of CNY 158.68 million or 50.81% compared to the same period last year [13]. Cash Flow - The cash flow from investment activities was negative CNY 83.97 million, a decrease of 408.66% year-over-year [20]. - The company reported a net cash outflow from operating activities of CNY -54,461,823.95 in Q1 2020, compared to a positive cash flow of CNY 4,031,326.33 in Q1 2019 [35]. - The company experienced a net decrease in cash and cash equivalents of -72,714,182.45 RMB in Q1 2020, contrasting with an increase of 87,688,044.16 RMB in Q1 2019 [37]. Expenses - Research and development expenses accounted for 18.46% of operating revenue, an increase of 10.65 percentage points compared to the previous year [5]. - The company's financial expenses increased by CNY 24.73 million, primarily due to increased interest income and foreign exchange gains from the depreciation of the British pound against the US dollar [14]. - The company's tax expenses decreased by 115.05% to CNY -1.67 million, mainly due to losses incurred during the reporting period [15]. Shareholder Information - The total number of shareholders at the end of the reporting period was 8,099 [7]. - The largest shareholder, Jiang Wei, held 44,449,000 shares, representing 24.99% of the total shares [7].

Financial Performance - The company achieved total revenue of RMB 1,604.33 million in 2019, an increase of RMB 45.88 million or 2.94% compared to 2018[56]. - The net profit attributable to shareholders was CNY 370,778,791.81, a decrease of 10.56% compared to CNY 414,540,417.19 in the previous year[15]. - The company's total assets increased by 38.67% to CNY 6,151,869,396.17 at the end of 2019, up from CNY 4,436,352,586.66 in 2018[15]. - The basic earnings per share decreased by 12.36% to CNY 2.27 in 2019, down from CNY 2.59 in 2018[16]. - The overall gross margin for the company was 77.28%, slightly down from 78.51% in 2018, primarily due to a decrease in the revenue share of high-margin hyaluronic acid products[57]. - The company's net profit attributable to shareholders, excluding non-recurring gains and losses, was RMB 35,745.00 million, a decrease of 4.96% compared to the previous year[90]. Dividend Policy - The company plans to distribute a cash dividend of RMB 7.00 per 10 shares, totaling RMB 124,491,710, which accounts for 33.58% of the net profit attributable to shareholders for 2019[5]. - The company does not plan to increase capital reserves or issue bonus shares for the 2019 fiscal year[5]. - The company's cash dividend policy stipulates a minimum cash dividend ratio of 80% for mature stages without major capital expenditure plans[199]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[4]. - The board of directors and senior management have confirmed the accuracy and completeness of the financial report[4]. - The company has not reported any significant omissions or misleading statements in the annual report[2]. - The company has confirmed that there are no violations of decision-making procedures regarding external guarantees[5]. Research and Development - The company's R&D investment for the reporting period was CNY 116,076,024.05, representing 7.24% of total revenue[40]. - R&D expenses increased by CNY 20,706,300, a growth of 21.71% compared to 2018, primarily due to increased investment in ophthalmology and medical beauty products[41]. - The company has established a comprehensive R&D project management system and emphasizes collaboration with renowned universities and research institutions[33]. - The company has 263 R&D personnel, accounting for 19.66% of the total workforce[40]. - The company is focusing on expanding its product offerings in the ophthalmology sector, with multiple projects in various stages of development and regulatory approval[42][43]. Market Position and Share - The company achieved a market share of 46.87% in the ophthalmic viscoelastic device market, maintaining the leading position for 12 consecutive years[31]. - The market share for the recombinant human epidermal growth factor product "Kanghesu" expanded to 20.39%, securing the second position in the market[31]. - The orthopedic joint cavity viscoelastic supplement product held a market share of 39.67%, also maintaining the leading position for 5 consecutive years[31]. - The company maintained a market share of 48.85% in the anti-adhesion product sector, remaining the largest manufacturer in China for twelve consecutive years[79]. Investment and Acquisitions - The company completed its IPO on the Sci-Tech Innovation Board on October 30, 2019, raising a total of CNY 1,588.29 million, netting CNY 1,529.27 million for the "Shanghai Haohai Biomedical International Pharmaceutical R&D and Industrialization Project"[59]. - The company has made equity investments totaling 12,724.15 million RMB during the reporting period, a decrease of 72.36% compared to the previous year[162]. - The company acquired 100% of ODC on April 25, 2019, which had a negative net asset value of -484.29 million RMB and a net loss of -443.59 million RMB since acquisition[187]. Risks and Challenges - The company has detailed various risk factors that may affect its operations in the report[3]. - The company faced risks from intensified market competition and potential regulatory changes in the pharmaceutical industry, which could impact financial performance[94]. - The company reported a net cash flow from operating activities of RMB 348,910,880.12, a decline of 10.83% compared to the previous year[98]. Product Development and Innovation - The new generation of high oxygen-permeable contact lens material "Optimum Infinite" has been approved by the FDA, boasting an oxygen permeability of over 180 Barrer, making it one of the highest globally[38]. - The company is developing a new type of intelligent drug release material with a total investment of CNY 1.30 billion, aiming for product approval in the near future[46]. - The company is advancing the development of new products in the fields of ophthalmology, plastic surgery, and orthopedics, including a new sodium hyaluronate injection and animal-derived hemostatic agents[137]. Sales and Marketing - The company has established a nationwide marketing network with over 2,000 distributors, covering all provinces and regions in China and approximately 70 countries globally[156]. - The sales model for the company showed that distribution accounted for 52.70% of total revenue, while direct sales contributed 47.30%[84]. - The company is focusing on integrating the ophthalmic cataract treatment business and optimizing marketing channels, supported by national key R&D programs[65].

Financial Performance - In 2019, the company's operating income was CNY 1,604,333,866.54, representing a 2.94% increase from CNY 1,558,452,694.03 in 2018[15]. - The net profit attributable to shareholders was CNY 370,778,791.81, a decrease of 10.56% compared to CNY 414,540,417.19 in the previous year[15]. - The company's total assets increased by 38.67% to CNY 6,151,869,396.17 at the end of 2019, up from CNY 4,436,352,586.66 in 2018[15]. - The net assets attributable to shareholders grew by 51.04% to CNY 5,454,779,644.49, primarily due to the capital reserve increase from the IPO[18]. - The basic earnings per share decreased by 12.36% to CNY 2.27 in 2019, down from CNY 2.59 in 2018[16]. - The diluted earnings per share also stood at CNY 2.27, reflecting the same decrease as basic earnings per share[16]. - The weighted average return on equity decreased to 9.26%, down 2.91 percentage points from 12.17% in 2018[16]. - The gross profit margin for the reporting period was 77.28%, slightly down from 78.51% in 2018[57]. - The company achieved total revenue of RMB 1,604.33 million in 2019, representing a year-on-year increase of 2.94%[56]. - Main business revenue reached RMB 1,602.32 million, with a growth of 3.00% compared to 2018[56]. Research and Development - Research and development expenses accounted for 7.24% of operating income, an increase of 1.12 percentage points from 6.12% in 2018[16]. - The company has increased R&D investment, focusing on new technology and product development, as well as the transformation of core technological achievements[33]. - The company has established a comprehensive R&D project management system, emphasizing collaboration with renowned universities and research institutions[33]. - R&D investment for the period reached CNY 116,076,024.05, accounting for 7.24% of total revenue[40]. - The company has a dedicated R&D team of 263 members, which constitutes 19.66% of the total workforce, including 20 PhD holders and 67 master's degree holders[128]. - The company is focusing on developing third-generation hyaluronic acid and new animal-derived hemostatic drugs, among other projects[130]. - The company aims to expand its product range into areas such as dry eye syndrome and glaucoma treatment, leveraging its four major technology platforms[130]. - The company is actively pursuing collaborations with domestic and international research institutions to enhance its R&D capabilities and technology transfer[131]. Market Position and Products - The company is positioned as a leading enterprise in the field of biomedical materials in China, focusing on four major therapeutic areas[31]. - The market share of the company's ophthalmic viscoelastic device products was 46.87%, maintaining the leading position for 12 consecutive years[31]. - The company’s hyaluronic acid products "Haiwei" and "Jiaolan" have gained significant consumer recognition, ranking among the top in market share in the aesthetic medicine sector[31]. - The company’s orthopedic joint cavity viscoelastic supplement products achieved a market share of 39.67%, leading the market for 5 consecutive years[31]. - The company’s surgical anti-adhesion products held a market share of 48.85%, also maintaining the top position for 12 consecutive years[31]. - The company has developed a full range of products in the ophthalmology sector, leading the domestic market in artificial lenses[52]. - The company is the largest producer of orthopedic joint cavity viscoelastic supplements in China, with a market share of 39.67% in 2018[74]. - The company maintains a strong market position in the recombinant human epidermal growth factor sector, holding a market share of 20.39% in 2018[73]. Cash Dividend and Shareholder Policies - The company plans to distribute a cash dividend of RMB 7.00 per 10 shares, totaling RMB 124,491,710, which accounts for 33.58% of the net profit attributable to shareholders for 2019[5]. - The cash dividend policy requires a minimum distribution of 80% of profits for mature companies without major capital expenditure plans[172]. - In 2019, the company distributed a cash dividend of 7 RMB per 10 shares, totaling 124,491,710 RMB, which represents 33.58% of the net profit attributable to ordinary shareholders[176]. - The company has not proposed any cash profit distribution plan for the reporting period despite having positive distributable profits[177]. - The actual controller and shareholders have committed to not transferring or managing their shares for 36 months post-IPO[178]. Risk Management and Compliance - The company has detailed various risk factors that may affect its operations in the report[3]. - The company has a comprehensive risk management strategy outlined in the report[3]. - The company faces risks from intensified market competition and regulatory changes in the pharmaceutical industry, which could impact financial performance[88][89]. - The company has confirmed that there are no undisclosed related-party transactions, maintaining transparency in its financial dealings[184]. - The company has committed to adhering to all relevant laws and regulations regarding share transfers and related transactions, ensuring compliance[184]. Environmental and Social Responsibility - The company has emphasized its commitment to environmental protection, ensuring compliance with relevant laws and regulations without any environmental accidents[196]. - The total wastewater discharge during the reporting period was approximately 140,509.80 tons, with COD emissions totaling about 17.25 tons and ammonia nitrogen emissions around 0.43 tons[199]. - The company’s wastewater treatment facility has a capacity of 330 tons per day, and the facility is operating normally[198]. - The company’s air treatment facilities include a waste gas washing tower with a capacity of 10,000 cubic meters per hour, which is also operating normally[198]. - The company has implemented effective measures for noise reduction and pollution control, ensuring compliance with environmental standards[199].