Financial Performance - For the three months ended September 30, 2020, the company reported revenue of RMB 94,171 thousand, a slight increase from RMB 92,059 thousand in the same period of 2019, representing a growth of 2.3%[10] - The gross profit for the same period was RMB 38,070 thousand, compared to RMB 43,902 thousand in 2019, indicating a decrease of 13.3%[10] - The net profit attributable to the owners of the parent company for the three months ended September 30, 2020, was RMB 2,492 thousand, down from RMB 4,068 thousand in 2019, reflecting a decline of 38.8%[10] - For the nine months ended September 30, 2020, the company reported a total revenue of RMB 225,554 thousand, compared to RMB 295,952 thousand in the same period of 2019, a decrease of 23.7%[10] - The company incurred a net loss of RMB 12,417 thousand for the nine months ended September 30, 2020, compared to a profit of RMB 16,034 thousand in 2019[10] - The basic and diluted earnings per share for the three months ended September 30, 2020, was RMB 0.02, down from RMB 0.03 in the same period of 2019[10] - The total comprehensive income for the three months ended September 30, 2020, was RMB 2,606 thousand, compared to RMB 4,537 thousand in 2019, a decrease of 42.5%[11] - The company’s operating profit for the three months ended September 30, 2020, was RMB 3,909 thousand, slightly up from RMB 3,749 thousand in the same period of 2019[10] - For the nine months ended September 30, 2020, the company's operating revenue was approximately RMB 226 million, a decrease of about 23.8% compared to RMB 296 million in the same period last year[31] Research and Development - The company reported a significant increase in research and development expenses, totaling RMB 20,296 thousand for the nine months ended September 30, 2020, compared to RMB 21,305 thousand in 2019[10] - The company obtained a patent for a method to rapidly determine serum vitamins A and E using liquid chromatography-tandem mass spectrometry during the reporting period[31] - The company registered two new products: a reagent kit for measuring apolipoprotein E and a reagent kit for total protein measurement in cerebrospinal fluid/urine, along with 74 product renewals[31] - The company received a Class I product filing certificate for nucleic acid extraction solution and sample preservation solution for COVID-19[31] - The company's COVID-19 antibody detection kit first received EU CE certification and was later included in the export whitelist by the Ministry of Commerce of China[31] - The company expects to enhance product quality and develop new testing projects driven by technological advancements in the industry[40] - The company aims to strengthen its competitive advantage in the biochemical diagnostics market and increase market share for other products[40] - The company continues to focus on product-centric and market-oriented strategies to enhance product lines and improve production and quality management[28] Market and Competitive Landscape - The company anticipates that the market concentration in the in vitro diagnostic industry will further increase as leading domestic companies enhance their R&D capabilities and operational scale[27] - The company aims to maintain a competitive edge in the market by continuously developing new products that meet market demands and technological advancements[27] Financial Obligations and Assets - The company has a repayment plan with Zhongke Fund for a loan amounting to RMB 184,300,000, with repayment deadlines set for February 29, 2020 (RMB 55,283,107.70), June 30, 2020 (RMB 128,993,917.96), and December 31, 2020 for the remaining balance[34] - The interest rate for the loan from Zhongke Fund ranges from 6.09% to 10.50%[38] - Zhongke Fund is required to transfer 50% of its equity in Yanqi Lake to the company by November 13, 2020, to offset a debt of RMB 145,000,000[41] - The fair value of the 50% equity in Yanqi Lake, along with guarantees provided, is estimated at RMB 50,900,000[41] - The company received two residential properties valued at RMB 5,400,000 to offset a debt owed by Zhongke Fund[42] - As of the report date, Zhongke Fund has not repaid a remaining cash balance of RMB 37,800,000 as per the civil judgment[42] Shareholder Information - Beijing Puhui Asset Management Co., Ltd. holds 31,308,576 shares, representing 38.93% of the company's domestic shares[46] - Mr. Wang Shuai owns 24,506,143 shares, accounting for 30.47% of the domestic shares[46] - Mr. Xiao Yonggang possesses 7,763,505 shares, which is 9.65% of the domestic shares[46] - Beijing Holdings Limited holds 27,256,143 H shares, representing 42.40% of the H shares[46] - Yunnan Shengneng Investment Partnership (Limited Partnership) owns 6,780,000 H shares, accounting for 10.55% of the H shares[47] - Chung Shek Enterprises Company Limited has 3,800,000 H shares, which is 5.91% of the H shares[47] Corporate Governance - The company has established an audit committee to review and supervise its financial reporting procedures and internal control systems[56] - The company has complied with all provisions of the Corporate Governance Code during the reporting period, except for specific clauses[57] - The company is currently reviewing insurance quotes to purchase liability insurance for its directors within 2020[60] - The company has decided not to establish an internal audit department due to its scale and simple operational structure[64] - The board has implemented measures to ensure compliance with GEM listing rules and relevant laws through financial reporting and internal control principles[64] - External consultants have been hired to conduct internal reviews as determined by the audit committee[64] - The existing organizational structure and close supervision by management are believed to maintain adequate risk management and internal control[64] - The board will periodically review the necessity of establishing an internal audit function and may form an internal audit team if needed[64] Dividend Policy - The company has not declared an interim dividend for the nine months ended September 30, 2020, consistent with the previous year[24] Employee and Talent Management - The company is committed to improving its compensation and incentive mechanisms to attract talented individuals[40] Securities Transactions - The company did not purchase, sell, or redeem any of its listed securities during the nine months ending September 30, 2020[52]

Company Overview - The company is a leading supplier of in vitro diagnostic reagents in China, focusing on R&D, production, sales, and distribution of diagnostic products [9]. - The company has established a marketing network covering over 600 distributors across more than 30 provinces and municipalities in China [9]. - The first major shareholder, Beijing Saipu Asset Management Co., Ltd., is a wholly-owned subsidiary of the Chinese Academy of Sciences, enhancing the company's credibility [9]. - The brand "Zhongsheng" has been recognized as a famous brand in Beijing and has received multiple quality awards in the diagnostic reagent market [9]. - The company has a strong management team, including several university professors and PhDs, contributing to its competitive edge in research and development [10]. - The company emphasizes a business philosophy of "people-oriented, innovation, quality first, pursuit of perfection, honest labor, and legal operation" to strengthen its overall competitiveness [10]. - The company is committed to providing high-quality and reliable disease testing reagent products to hospitals and healthcare institutions [9]. - The company has a diverse ownership structure, with significant stakes held by both state-owned and private enterprises, ensuring a robust financial backing [14]. Financial Performance - The company achieved a revenue of RMB 131 million in the first half of 2020, a decrease of 36% compared to the same period last year [22]. - The loss attributable to shareholders was RMB 12.31 million, a decrease of 2.7 times compared to a profit of RMB 7.21 million in the same period last year, primarily due to the negative impact of COVID-19 [22]. - For the six months ended June 30, 2020, the group's revenue was approximately RMB 131,383,000, a decrease of 35.4% compared to RMB 203,893,000 for the same period in 2019 [40]. - The gross profit for the same period was RMB 46,716,000, down 44.5% from RMB 84,193,000 in 2019 [40]. - The operating profit for the six months ended June 30, 2020, was a loss of RMB 9,875,000, compared to a profit of RMB 15,914,000 in the same period of 2019 [40]. - The net profit attributable to the company's shareholders for the six months ended June 30, 2020, was a loss of RMB 12,305,000, compared to a profit of RMB 7,213,000 in 2019 [41]. - The company reported a net loss of RMB 15,072,000 for the six months ended June 30, 2020, compared to a profit of RMB 11,560,000 in the same period of 2019 [43]. - The total employee cost for the six months ended June 30, 2020, was approximately RMB 39,310,000, a decrease of 43.7% compared to RMB 69,880,000 in 2019 [37]. - The company employed approximately 470 full-time employees as of June 30, 2020, down from about 542 employees as of December 31, 2019 [37]. - The total current liabilities amounted to RMB 370,000,000 as of June 30, 2020, slightly up from RMB 362,952,000 as of December 31, 2019, representing an increase of approximately 1.3% [46]. - The total equity as of June 30, 2020, was RMB 183,741,000, a decrease from RMB 199,225,000 as of December 31, 2019, representing a decline of approximately 7.8% [46]. - The net cash flow from operating activities for the six months ended June 30, 2020, was a negative RMB 9,290,000, compared to a positive RMB 26,149,000 for the same period in 2019, indicating a significant decline [49]. - The total non-current liabilities increased to RMB 85,574,000 as of June 30, 2020, compared to RMB 82,786,000 as of December 31, 2019, marking an increase of about 3.4% [46]. - The total non-current assets as of June 30, 2020, were RMB 207,721,000, a decrease from RMB 219,398,000 as of December 31, 2019 [44]. - The total current assets as of June 30, 2020, were RMB 431,594,000, slightly up from RMB 425,565,000 as of December 31, 2019 [44]. - The net cash and cash equivalents increased to RMB 49,970,000 as of June 30, 2020, from RMB 30,052,000 at the beginning of the period, showing an increase of about 66.5% [49]. Market and Product Development - The domestic in vitro diagnostic reagent market size was estimated to be over RMB 70 billion in 2019, with the biochemical product market share reaching approximately 35% [22]. - The company registered two new products during the reporting period and completed the continuation registration of 74 products, including a new COVID-19 antibody detection kit that received EU CE certification [21]. - The company plans to expand its biochemical product line and accelerate the development of immunological products, mass spectrometry products, flow cytometers, and molecular products [18]. - The company aims to enhance its competitiveness through new technologies and products in response to the intense price competition in the domestic biochemical diagnostic reagent market [27]. - The company anticipates that the in vitro diagnostic industry may continue to be affected by the unpredictable macroeconomic environment and the spread of the pandemic in the second half of 2020 [29]. Corporate Governance - The company has complied with all corporate governance code provisions during the reporting period, except for specific provisions A.1.8, A.2.1, and C.2.5 [95]. - The company has established an audit committee to review and supervise its financial reporting procedures and internal control systems [94]. - No directors or supervisors have been reported to have interests in any business that competes directly or indirectly with the company [89]. - The company believes that the current structure of having the Chairman and CEO roles combined does not undermine the balance of power and authority between the board and management [98]. - The company has decided not to establish an internal audit department due to its operational scale and structure, but has implemented measures to ensure compliance with financial reporting and internal control principles [99]. - The board has engaged external consultants to conduct internal reviews as part of its risk management and internal control strategy [99]. - The necessity of establishing an internal audit function will be reviewed periodically by the board, with potential formation of an internal audit team if needed [99]. Shareholder Information - As of June 30, 2020, Mr. Wu Le Bin holds 3,500,878 shares, representing 4.35% of the company's domestic shares and 2.42% of the total registered capital [83]. - Beijing Puxi Asset Management Co., Ltd. owns 31,308,576 shares, accounting for 38.93% of domestic shares and 21.64% of the total registered capital [86]. - Mr. Wang Shuai holds 24,506,143 shares, representing 30.47% of domestic shares and 16.93% of the total registered capital [86]. - The company has not purchased, sold, or redeemed any of its listed securities during the six months ending June 30, 2020 [90]. - The company has not granted any rights to directors or supervisors to purchase shares or debt securities during the six months ending June 30, 2020 [88]. - The total equity attributable to non-controlling interests was RMB 21,663,000 as of June 30, 2020, down from RMB 24,434,000 as of December 31, 2019, reflecting a decrease of approximately 11.5% [46]. Other Financial Metrics - Revenue from a single customer in the in vitro diagnostic reagent product category accounted for approximately RMB 26,223,000, which is over 10% of the total revenue [61]. - The net cash flow from investing activities was RMB 3,145,000 for the six months ended June 30, 2020, compared to a negative RMB 6,616,000 for the same period in 2019, indicating an improvement [49]. - Financial expenses for the three months ended June 30, 2020, increased significantly to RMB 2,892,000 from RMB 825,000 in the same period of 2019, marking a rise of approximately 250.5% [65]. - The total tax expense for the six months ended June 30, 2020, was RMB 88,000, down from RMB 4,358,000 in the same period of 2019, indicating a substantial decrease of approximately 98% [68]. - Basic earnings per share for the six months ended June 30, 2020, remained at RMB 0.00, consistent with the same period in 2019, as there were no diluted earnings reported [69]. - The company proposed not to declare an interim dividend for the six months ended June 30, 2020, consistent with the decision in 2019 [70]. - Trade receivables as of June 30, 2020, totaled RMB 175,382,000, a decrease from RMB 221,889,000 as of December 31, 2019, reflecting a decline of approximately 20.9% [72]. - Trade payables as of June 30, 2020, amounted to RMB 97,152,000, down from RMB 118,223,000 as of December 31, 2019, representing a decrease of approximately 17.8% [74]. - The company has guaranteed loans amounting to RMB 36,200,000 for an associate and a subsidiary as of June 30, 2020, slightly down from RMB 36,500,000 as of December 31, 2019 [76]. - Total remuneration for key management personnel for the six months ended June 30, 2020, was RMB 2,152,000, a slight decrease from RMB 2,163,000 in the same period of 2019 [80]. - The company has no significant capital commitments related to property, plant, and equipment as of June 30, 2020 [77].

Financial Performance - For the first quarter of 2020, the company reported a revenue of RMB 47,089,000, a decrease of 58.0% compared to RMB 112,164,000 in the same period of 2019[9] - The gross profit for the first quarter of 2020 was RMB 14,311,000, down 60.7% from RMB 36,323,000 year-on-year[9] - The operating loss for the quarter was RMB 13,669,000, compared to an operating profit of RMB 5,685,000 in Q1 2019[9] - The net loss attributable to the company's shareholders was RMB 15,796,000, compared to a profit of RMB 2,306,000 in the same quarter of the previous year[9] - The company incurred a total comprehensive loss of RMB 17,531,000 for the first quarter of 2020, compared to a comprehensive income of RMB 3,118,000 in Q1 2019[10] - The financial cost for the quarter was RMB 2,723,000, compared to RMB 546,000 in Q1 2019, indicating a significant increase in financial expenses[9] - The decline in revenue and increase in loss were primarily due to the negative impact of the COVID-19 pandemic on business operations[28] Research and Development - Research and development expenses for the quarter were RMB 5,279,000, an increase from RMB 4,989,000 in the same period last year[9] - The company completed the renewal registration of 74 products, including ischemic modified albumin test kits, and obtained a Class I product filing for nucleic acid extraction reagents for the coronavirus[34] - The company is focused on enhancing its competitiveness through new technologies and products in a market characterized by severe price competition and declining growth rates[34] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated income statement for the period[48] - The company has complied with all provisions of the Corporate Governance Code, except for specific clauses mentioned[50] - The company is currently reviewing insurance quotes for potential legal action protection for its directors[51] - The roles of Chairman and CEO are held by Mr. Wu Lebin, which deviates from the recommended separation of these roles[53] - The company has decided not to establish an internal audit department due to its operational scale and structure, but has implemented measures to ensure compliance with financial reporting and internal control principles[54] - The board has engaged external consultants to conduct internal reviews as part of its risk management and internal control strategy[54] - The necessity of establishing an internal audit function will be reviewed periodically by the board, with potential formation of an internal audit team if needed[54] Shareholder Information - The company has 64,286,143 H shares issued, with a par value of RMB 1.00 per share[7] - As of March 31, 2020, Mr. Wu Lebin holds 3,500,878 shares, representing 4.35% of the company's domestic shares and 2.42% of the total registered capital[40] - Mr. Xu Chunmao holds 600,000 shares, accounting for 0.75% of the domestic shares and 0.41% of the total registered capital[40] - Major shareholder Mr. Wang Shuai directly owns 31,308,576 shares, which is 38.93% of the domestic shares and 21.64% of the total registered capital[41] - Mr. Xiao Yonggang directly owns 24,506,143 shares and 7,763,505 H shares, representing 30.47% and 9.65% of the respective categories[41] - Beijing Holdings Limited holds 27,256,143 H shares, accounting for 42.40% of the H shares and 18.84% of the total registered capital[41] Market Outlook - The company anticipates that the macroeconomic environment and the unpredictable spread of the pandemic may continue to impact the in vitro diagnostics industry in 2020[35] - The company has been actively responding to the challenges posed by the pandemic and is seeking new business growth points to expand revenue sources[35] Dividend Policy - The board of directors did not recommend the distribution of an interim dividend for the three months ended March 31, 2020[25]

BIOSINO BIO-TECHNOLOGY AND SCIENCE INCORPORATION * (Incorporated in the People's Republic of China with limited liability) (Stock Code : 8247) 2019 Annual Report 年報 Annual Report 2019 * For identification purpose only BIOSINO BIO-TECHNOLOGY AND SCIENCE INCORPORATION * 2019 年 報 * 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為相比起其他在聯交所上市的公司帶有較高投資風險的公司提供一個上市的市場。有意投資的人士應了解投 資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。GEM的較高風險及其他特色表示GEM較適合專業 及其他老練投資者。 由於GEM上市公司新興的性質所然，在GEM買賣的證券可能會較於聯交所主板買賣之證券承受較大的市場波動風險，同時無 法保證在GEM買賣的證券會有高流通量的市場。 香港交易及 ...

Financial Performance - Biosino Bio-Technology reported a significant increase in revenue, achieving RMB 150 million in the first half of 2019, representing a 25% growth compared to the same period last year[33]. - The group achieved a revenue of RMB 204 million, representing a 40% increase compared to the same period last year[38]. - Revenue for the three months ended June 30, 2019, was RMB 91.73 million, up from RMB 72.24 million in the same period of 2018, representing a growth of approximately 27.0%[49]. - For the six months ended June 30, 2019, the company reported a total revenue of RMB 292,137,000, a decrease from RMB 361,212,000 in the same period of 2018, representing a decline of approximately 19.1%[58]. - The net profit for the six months ended June 30, 2019, was RMB 11.52 million, compared to a loss of RMB 8.11 million in the same period of 2018[51]. - Basic and diluted earnings per share for the six months ended June 30, 2019, were RMB 0.050, compared to RMB 0.004 in the same period of 2018[51]. - Gross profit for the six months ended June 30, 2019, was RMB 84.19 million, compared to RMB 64.74 million in the same period of 2018, indicating an increase of approximately 30.0%[49]. - The company reported a gross profit of RMB 144,707,000 for the six months ended June 30, 2019, compared to RMB 105,090,000 in the same period of 2018, showing an increase of about 37.7%[58]. - Operating profit for the three months ended June 30, 2019, was RMB 10.23 million, a significant increase from RMB 0.96 million in the same period of 2018[49]. Market Position and Strategy - The company expanded its distribution network, now covering over 600 distributors across more than 30 provinces and municipalities in China[24]. - Biosino plans to continue investing in new product development and technology advancements to meet the growing demand for in vitro diagnostic reagents[25]. - The company is exploring potential mergers and acquisitions to further enhance its market position and expand its product offerings[25]. - The company emphasizes a direct sales and distributor combination marketing model, which has proven effective in reaching a broad customer base[24]. - The implementation of hierarchical diagnosis and treatment systems and the construction of medical alliances are expected to create new business opportunities for the company[40]. - The group is focusing on expanding sales channels and exploring new marketing models to adapt to market changes[35]. - The group anticipates increased market concentration and intensified competition due to ongoing healthcare cost control policies and new operational models[41]. Research and Development - Biosino's main shareholder, the Chinese Academy of Sciences, continues to provide strong support for research and development initiatives, enhancing the company's competitive edge in the market[24]. - The company is focused on innovation, with multiple management team members holding advanced degrees and research backgrounds, which strengthens its R&D capabilities[25]. - The company completed the registration of 31 products, including the α-L-fucose assay kit, and obtained a Class I filing certificate for 36 mass spectrometry sample pretreatment products[37]. - The company plans to extend its biochemical and immunological product lines and accelerate the development and launch of mass spectrometry products, flow cytometers, and molecular products[36]. Financial Position - Total assets as of June 30, 2019, were RMB 654.72 million, compared to RMB 432.71 million as of December 31, 2018, reflecting an increase of approximately 51.1%[55]. - Current liabilities as of June 30, 2019, totaled RMB 441.53 million, compared to RMB 371.10 million as of December 31, 2018, indicating an increase of approximately 18.9%[56]. - The company reported a net asset value of RMB 361.21 million as of June 30, 2019, slightly down from RMB 364.46 million as of December 31, 2018[56]. - Trade receivables as of June 30, 2019, amounted to RMB 202,873,000, an increase from RMB 141,685,000 as of December 31, 2018[79]. - Trade payables as of June 30, 2019, totaled RMB 134,603,000, compared to RMB 119,274,000 as of December 31, 2018[81]. - The group secured short-term bank loans amounting to RMB 101.05 million during the reporting period[42]. Employee and Management - The company employed approximately 491 full-time employees as of June 30, 2019, an increase from about 479 employees as of December 31, 2018[47]. - Total employee costs for the six months ended June 30, 2019, amounted to RMB 42.17 million, compared to RMB 37.92 million in the same period of 2018, reflecting an increase of approximately 8.3%[47]. - Total remuneration paid to key management personnel for the six months ended June 30, 2019, was RMB 2,163,000, slightly down from RMB 2,216,000 in the same period of 2018[87]. Corporate Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the period[101]. - The company has adhered to all corporate governance code provisions during the reporting period, except for the provision regarding insurance for directors[102]. - No major shareholders or directors have interests in any competing businesses during the reporting period[98]. - The company has not granted any rights to directors or supervisors to purchase shares or debt securities during the six months ending June 30, 2019[97]. - The company is currently reviewing insurance proposals for directors' liability insurance to be purchased within 2019[103]. Tax and Compliance - The effective tax rate for the company is 15% due to its status as a high-tech enterprise in Beijing, compared to the standard corporate tax rate of 25% in China[73]. - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2019, with no significant financial impact on the interim financial statements[63].