Financial Performance - For Q3 2024, the company's operating revenue was RMB 1,231,523,140.11, a decrease of 8.80% compared to the same period last year[4] - The net profit attributable to shareholders was RMB 116,430,360.57, representing a significant increase of 487.43% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 99,358,854.26, up 1,631.43% from the previous year[4] - The company reported a basic earnings per share of RMB 0.0794, an increase of 488.15% compared to the same period last year[4] - Net profit rose by 449.08% to ¥779,059,287.68, reflecting the overall improvement in operating profit[10] - Basic and diluted earnings per share for the current period were both RMB 0.5317, compared to RMB 0.0976 in the previous period, marking an increase of approximately 444.43%[23] - The total comprehensive income for the current period was RMB 713,437,124.04, compared to RMB 242,978,158.09 in the previous period, indicating a growth of approximately 194.00%[23] Cash Flow - The cash flow from operating activities for the year-to-date was RMB 1,792,139,231.56, an increase of 865.91% compared to the same period last year[4] - Cash flow from operating activities improved significantly, with a net increase of 865.91% to ¥1,792,139,231.56, driven by higher cash receipts from sales[11] - Operating cash flow for the current period is RMB 1,792,139,231.56, compared to a negative cash flow of RMB -233,988,970.92 in the previous period, indicating a significant recovery[25] - Cash received from sales of goods and services decreased to RMB 4,299,443,691.71 from RMB 4,603,550,675.54, a decline of approximately 6.6%[25] - Cash paid for purchasing goods and services significantly decreased to RMB 1,477,390,948.62 from RMB 3,633,091,884.41, a reduction of about 59.3%[25] - Cash inflow from investment activities decreased to RMB 1,515,558,196.54 from RMB 2,301,332,024.93, reflecting a decline of approximately 34%[26] - Net cash flow from financing activities shows a significant outflow of RMB -1,345,954,669.90, worsening from RMB -672,098,505.03 in the previous period[26] - The total cash and cash equivalents at the end of the period increased to RMB 1,995,479,199.24, up from RMB 1,757,779,083.22 in the previous period[27] Assets and Liabilities - The total assets at the end of the reporting period were RMB 18,121,417,326.69, a decrease of 5.63% from the end of the previous year[4] - Total non-current assets decreased to RMB 7,749,434,630.32, down 9.93% from RMB 8,599,510,606.98 at the beginning of the period[18] - Total liabilities decreased to RMB 5,906,888,588.09, down 18.11% from RMB 7,215,037,414.42 at the beginning of the period[20] - The total equity attributable to shareholders increased to RMB 12,140,384,965.66, reflecting a growth of 1.91% year-on-year[4] - The total equity attributable to shareholders increased to RMB 12,140,384,965.66, up 1.91% from RMB 11,913,149,195.32 at the beginning of the period[20] Investments - The company experienced a 102.03% increase in trading financial assets, totaling RMB 836,795,932.21, primarily due to increased investments in financial products[8] - Long-term equity investments decreased by 50.58% to RMB 496,236,843.73, mainly due to the disposal of shares in HighTide Therapeutics, Inc.[8] - Investment income increased by 251.52% to ¥416,440,156.93, primarily from the disposal of equity and fund investments[9] - The company reported an investment income of RMB 416,440,156.93, a turnaround from a loss of RMB 274,834,971.73 in the previous period[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,499, with the top ten shareholders holding significant stakes[12] - Shenzhen Lerun Technology Co., Ltd. held 32.31% of shares, while Xiamen Jintian Tuti Investment Partnership held 27.81%[12] - The company has a strong shareholder base, with the top three shareholders collectively owning over 75% of the shares[12] Expenses - Sales expenses decreased by 30.26% to ¥280,983,594.46 due to reduced marketing costs[9] - Research and development expenses decreased to RMB 129,976,981.05 from RMB 152,223,825.20, a reduction of about 14.58%[21] - The company’s tax expenses increased to RMB 108,143,486.10 from RMB 39,289,379.06, reflecting an increase of approximately 175.00%[22] Other Information - The company reported a significant increase in non-operating income due to government subsidies amounting to RMB 5,108,928.12 for Q3 2024[5] - The company experienced a foreign exchange loss of RMB 60,898,382.20, contrasting with a gain of RMB 103,834,456.09 in the previous period[23] - The impact of exchange rate changes on cash and cash equivalents was a positive RMB 9,871,785.63, compared to RMB 31,821,093.12 in the previous period[27] - The company did not undergo an audit for the third quarter report[28]

Financial Performance - The company's revenue for Q3 2024 was CNY 1,231,523,140.11, representing a decrease of 8.80% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2024 was CNY 116,430,360.57, an increase of 487.43% year-over-year[2] - The net profit after deducting non-recurring gains and losses reached CNY 99,358,854.26, showing a significant increase of 1,631.43% compared to the previous year[2] - Basic and diluted earnings per share for Q3 2024 were both CNY 0.0794, reflecting an increase of 488.15% year-over-year[2] - The net profit for the third quarter of 2024 reached CNY 779,059,287.68, representing a 449.08% increase compared to the same period last year[7] - Operating profit increased to CNY 903,477,746.40, up 405.25% year-on-year, primarily due to reduced expenses and increased investment income[7] - Total profit amounted to CNY 887,202,773.78, reflecting a 389.69% increase year-on-year[7] - The company reported a total comprehensive income of CNY 713,437,124.04 for the quarter, compared to CNY 242,978,158.09 in the same period last year, marking an increase of about 194%[15] Cash Flow and Investments - The company's cash flow from operating activities for the year-to-date period was CNY 428,828,218.59, an increase of 402.43% compared to the same period last year[2] - The net cash flow from operating activities was CNY 1,792,139,231.56, a significant improvement of 865.91% compared to a negative cash flow of CNY -233,988,970.92 in the previous year[8] - Investment activities generated a net cash flow of CNY -226,221,859.93, a decline of 117.24% compared to the previous year[8] - The company reported a net cash outflow from investing activities of CNY -226,221,859.93, a significant decline from a net inflow of CNY 1,312,338,280.10 in the same period last year[16] Assets and Liabilities - Total assets at the end of Q3 2024 were CNY 18,121,417,326.69, a decrease of 5.63% from the end of the previous year[2] - The company's cash and cash equivalents increased to CNY 2,242,888,528.02 from CNY 1,851,642,224.58, representing a growth of about 21.1%[11] - Total assets decreased to CNY 18,121,417,326.69 from CNY 19,203,415,131.24, reflecting a decline of approximately 5.6%[12] - The total liabilities reduced to CNY 5,906,888,588.09 from CNY 7,215,037,414.42, a decrease of around 18.1%[12] - The company reported a decrease in total current liabilities to CNY 4,341,291,665.37 from CNY 4,986,180,302.15, a reduction of approximately 13.0%[12] - The total owner's equity increased to CNY 12,214,528,738.60 from CNY 11,988,377,716.82, reflecting a growth of about 1.9%[13] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,499[9] - The largest shareholder, Shenzhen Lerun Technology Co., Ltd., holds 32.31% of the shares, totaling 474,029,899 shares[9] Expenses and Income - Sales expenses for the year-to-date period decreased by 30.26% to CNY 280,983,594.46, attributed to reduced marketing expenses[6] - The company experienced a 53.92% decrease in other income, totaling CNY 9,392,939.82, mainly due to reduced government subsidies[6] - The company’s total tax expenses increased by 175.25% to CNY 108,143,486.10, driven by the rise in total profit[7] - The company reported a decrease in credit impairment losses by 455.16%, amounting to CNY 11,001,914.40[7] - The company experienced a significant increase in asset disposal gains, which rose by 212.88% to CNY 620,158.53[7] Research and Development - Research and development expenses for the period were CNY 129,976,981.05, down from CNY 152,223,825.20, a reduction of about 14.6%[14] Revenue from Sales - Total revenue from sales of goods and services was CNY 4,299,443,691.71, down from CNY 4,603,550,675.54 in Q3 2023, reflecting a decrease of approximately 6.6%[16]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 2,828,657, representing a 4.5% increase from RMB 2,706,246 in the same period of 2023[7]. - Gross profit for the same period was RMB 999,274, with a gross profit margin of 35.3%, slightly down from 35.4% in 2023[7]. - Profit attributable to equity holders of the parent surged to RMB 663,684, a significant increase of 438.1% compared to RMB 123,349 in 2023[7]. - The Group achieved sales revenue of RMB 2,828.7 million, a year-on-year increase of 4.5% compared to RMB 2,706.2 million in the same period last year[12]. - Gross profit for the Group was RMB 999.3 million, representing a 4.2% increase from RMB 959.0 million year-on-year, with a gross profit margin of 35.3%[12]. - Profit before tax increased significantly to RMB 767.6 million, compared to RMB 167.7 million in the prior year, marking a growth of 357.5%[103]. - Profit for the period reached RMB 662.8 million, up from RMB 122.4 million, reflecting a year-over-year increase of 441.5%[103]. - Basic earnings per share attributable to ordinary equity holders of the parent was RMB 0.45, compared to RMB 0.08 in the same period last year[103]. Cash Flow and Liquidity - Cash and cash equivalents rose to RMB 2,202,718, reflecting a 24.8% increase from RMB 1,765,645 in the previous year[7]. - Net cash flows generated from operating activities amounted to RMB 1,294,842, a recovery from a cash outflow of RMB (542,752) in 2023[7]. - The Group achieved a net operating cash inflow of RMB 1,294.8 million during the Reporting Period, representing an increase of 338.6% year-on-year[11]. - The Group's operating cash flow net inflow was RMB 1,294.8 million, a year-on-year increase of 338.6%[13]. - The net increase in cash and cash equivalents for the first half of 2024 was RMB 426,081, compared to RMB 84,888 in the same period last year[120]. - The Group's liquidity remains strong, with primary funding sourced from ordinary business operations[54]. Market and Strategic Initiatives - The company is focusing on expanding its market presence and enhancing its product portfolio through new product development and technology advancements[7]. - Future outlook includes strategic initiatives aimed at increasing operational efficiency and market share in the pharmaceutical sector[7]. - The company is exploring potential mergers and acquisitions to bolster its growth strategy and enhance competitive positioning[7]. - The Group actively strengthened its commercial and operational capabilities in the United States and Europe to enhance global market share[11]. - The Group is advancing the commercialization of Fozaprepitant in the U.S. to create new revenue sources[22]. - The Group's investment strategy was adjusted to focus more on core business development, optimizing asset portfolio and rate of return[11]. Research and Development - Continued investment in research and development is prioritized to drive innovation and meet evolving market demands[7]. - Research and development costs for the period were RMB 81,041,000, down 15% from RMB 95,362,000 in the previous year[162]. Shareholder and Corporate Governance - The Board resolved not to declare interim dividends for the six months ended June 30, 2024, consistent with the same period last year, which also had no dividends declared[72]. - The Company has complied with all applicable code provisions in the Corporate Governance Code during the reporting period[90]. - The Company is committed to high standards of corporate governance as per the Corporate Governance Code[90]. Assets and Liabilities - The asset-liability ratio improved to 34.3%, down from 37.6% in the previous year[7]. - The Group's total assets amounted to approximately RMB 18,573.5 million, down from RMB 19,203.4 million as of December 31, 2023[62]. - The Group's total amount of other borrowings increased to RMB 750.0 million as of June 30, 2024, from RMB 556.0 million as of December 31, 2023[71]. - The Group's short-term loans were approximately RMB 2,992.8 million as of June 30, 2024, down from RMB 3,624.6 million as of December 31, 2023[59]. Sales and Revenue Breakdown - For the six months ended June 30, 2024, the total revenue from external customers was RMB 2,828,657,000, with segment revenues of RMB 1,453,516,000 from finished dose pharmaceutical products, RMB 747,599,000 from API, RMB 560,378,000 from CDMO, and RMB 67,164,000 from others[133]. - The finished dose pharmaceutical products segment reported a profit of RMB 454,738,000, while the API segment reported RMB 461,857,000, and the CDMO segment reported RMB 174,560,000[133]. - Revenue from external customers in the United States was RMB 580,353,000, representing an increase from RMB 535,379,000 in the previous period[137]. Employee and Operational Metrics - As of June 30, 2024, the Group had 1,928 employees, with total staff costs approximately RMB 282.6 million, down from RMB 360.5 million in the same period last year[72]. - The Group's credit period with customers generally ranges from one to three months, emphasizing the importance of timely collections[195]. Foreign Exchange and Financial Management - Unrealized foreign exchange losses during the Reporting Period amounted to RMB 31.9 million, with the Group planning to use financial market tools to mitigate foreign exchange risks[53]. - The company recognized a foreign exchange loss of RMB 12,134,000 for the six months ended June 30, 2024, compared to a gain of RMB 126,847,000 for the same period in 2023[158].

Financial Performance - For the six months ended June 30, 2024, the company recorded revenue of RMB 2,828,657 thousand, representing a 4.5% increase from RMB 2,706,246 thousand in the same period of 2023[2] - Gross profit for the same period was RMB 999,274 thousand, up 4.2% from RMB 958,958 thousand year-on-year, with a gross margin of 35.3%[2] - The profit attributable to equity holders of the parent company surged to RMB 663,684 thousand, a significant increase of 438.1% compared to RMB 123,349 thousand in the prior year[2] - The company reported a total comprehensive income of RMB 708,332 thousand for the period, compared to RMB 230,198 thousand in the previous year[4] - The basic and diluted earnings per share for the period were RMB 0.45, compared to RMB 0.08 in the same period of 2023[3] - The company achieved a sales revenue of RMB 2,828.7 million, a year-on-year increase of 4.5% compared to RMB 2,706.2 million in the previous year[10] - Gross profit was RMB 999.3 million, up 4.2% from RMB 959.0 million year-on-year, with a gross margin of 35.3%[10] - The net profit attributable to shareholders was RMB 663.7 million, significantly higher than RMB 123.3 million in the previous year[10] Cash Flow and Financial Position - Cash and cash equivalents increased by 24.8% to RMB 2,202,718 thousand from RMB 1,765,645 thousand as of June 30, 2023[2] - The net cash flow from operating activities was RMB 1,294,842 thousand, a turnaround from a cash outflow of RMB 542,752 thousand in the same period last year[2] - Total assets decreased to RMB 18,573,510 thousand from RMB 19,203,417 thousand as of December 31, 2023[6] - Current liabilities decreased to RMB 4,479,909 thousand from RMB 4,986,182 thousand as of December 31, 2023[6] - The company's net assets increased to RMB 12,209,423 thousand from RMB 11,988,377 thousand as of December 31, 2023[6] - Financing costs decreased by RMB 41.7 million to RMB 84.5 million, a reduction of 33.0% year-on-year, primarily due to the repayment of maturing bonds and a decrease in net borrowings[30] - Total assets as of June 30, 2024, were approximately RMB 18,573.5 million, with total liabilities of approximately RMB 6,364.1 million, resulting in a debt-to-asset ratio of about 34.3%[38] Market and Sales Performance - The heparin value chain business generated sales revenue of RMB 2,245.3 million, slightly down from RMB 2,289.5 million in the previous year[11] - The company's formulation sales remained stable at RMB 1,453.5 million, down from RMB 1,547.3 million, with a gross margin of 34.0%[11] - The group signed a distribution agreement with Chengdu Tianqing Pharmaceutical Co., Ltd. for the commercialization of Fosaprepitant in the U.S., leveraging its self-operated sales network[15] - The group's sales revenue in the U.S. market increased significantly, driven by both self-operated and agency sales, with a focus on promoting the sales of enoxaparin sodium and standard heparin products[12] - The non-European and American overseas markets saw significant sales growth, with sales volume doubling during the reporting period, and the group actively expanding into new markets[12] - The group continues to strengthen its market presence in China, achieving double-digit sales growth despite price restrictions from national procurement platforms[12] Research and Development - The company is developing innovative drug candidates for immune-related diseases, currently in the clinical stage[8] - Oregovomab, a candidate drug for advanced ovarian cancer, is undergoing a mid-term analysis in its Phase III clinical trial, with ongoing patient survival follow-up as per the Data Safety Monitoring Board's recommendations[16] - AR-301, a monoclonal antibody for Staphylococcus aureus pneumonia, did not meet primary endpoints in its global Phase III study, but showed potential benefits in patients over 65 and those with MRSA[17] - RVX-208, a selective BET protein inhibitor, completed its Phase III clinical trial, demonstrating a reduction in major adverse cardiovascular events in high-risk patients, and has received breakthrough therapy designation from the FDA[18] - H1710, a self-developed heparinase inhibitor, is currently in preclinical stage and has shown significant antitumor effects in various tumor models compared to standard treatments[19] Operational Efficiency and Cost Management - The company aims to enhance operational efficiency and cash flow management while controlling operating costs to ensure sustainable development[22] - The company will continue to support the long-term development of its CDMO platforms and strengthen customer channels to increase market penetration[21] - Employee costs totaled approximately RMB 282.6 million for the reporting period, down from RMB 360.5 million in the same period last year, reflecting a decrease of about 22%[77] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange rules and has complied with all applicable provisions during the reporting period[78] - The board consists of four executive directors and three independent non-executive directors, ensuring that independent directors account for at least one-third of the board[78] - The audit committee has reviewed the unaudited consolidated interim results for the six months ending June 30, 2024, and confirmed compliance with relevant accounting standards and regulations[80] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[56] - The company is exploring new business opportunities and partnerships in Asia and South America to enhance its overseas market coverage[12] - The company anticipates that the overall API sales prices will remain at the bottom level, but demand is expected to gradually recover over time[21]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2024, representing a year-on-year increase of 15%[7]. - The net profit attributable to shareholders was RMB 300 million, up 20% compared to the same period last year[7]. - The company's operating revenue for the reporting period was ¥2,837,400,906.87, an increase of 4.59% compared to ¥2,712,899,392.07 in the same period last year[12]. - Net profit attributable to shareholders was ¥663,683,451.42, representing a significant increase of 438.05% from ¥123,349,841.18 in the previous year[12]. - The net profit after deducting non-recurring gains and losses was ¥329,469,364.33, up 313.85% from ¥79,611,755.54 year-on-year[12]. - The company achieved a net cash inflow from operating activities of RMB 1.295 billion, a year-on-year increase of 338.57%[33]. - The company reported a significant increase in financial assets measured at fair value, with changes recognized in other comprehensive income[182]. Market Expansion and Product Development - The company plans to launch three new products in the second half of 2024, focusing on innovative therapies for rare diseases[7]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2025[7]. - User data showed an increase in active users by 25%, reaching 5 million by the end of June 2024[7]. - The company expects a revenue growth forecast of 10% for the second half of 2024, driven by new product launches and market expansion strategies[178]. - New product development includes the launch of a groundbreaking drug expected to enter the market in Q4 2024, projected to generate 300 million RMB in sales[178]. - The company is actively exploring new markets in Asia and South America to supplement its non-European and American overseas market[35]. Research and Development - The R&D expenditure for the first half of 2024 was RMB 150 million, accounting for 12.5% of total revenue[7]. - The company has invested 150 million RMB in R&D for innovative technologies aimed at improving production efficiency[178]. - Research and development investment was RMB 81.79 million, a decrease of 16.60% compared to the previous year[42]. - The company focuses on innovative drug candidates for treating life-threatening diseases, leveraging over 20 years of research experience in polysaccharide chemistry[27]. Financial Guidance and Strategy - The company has set a revenue guidance of RMB 2.5 billion for the full year 2024, indicating a growth target of 12%[7]. - The financial outlook remains positive, with an anticipated EBITDA margin improvement of 5% by the end of 2024[178]. - The company plans to implement cost-cutting measures that could save approximately 50 million RMB annually[178]. - The company has adjusted its investment strategy, resulting in an investment income of RMB 272 million from the reduction of equity in a joint venture[33]. Risk Management - The company has identified potential risks including regulatory changes and market competition, with strategies in place to mitigate these risks[2]. - The company faces significant risks related to product quality, market competition, and raw material price fluctuations, which could adversely affect revenue and profitability[66][68]. - The company is actively enhancing its quality control measures and employee training to mitigate product quality risks[65]. - The company is focusing on optimizing its supply chain and cost management to address the impact of raw material price volatility on its operations[68]. Environmental Compliance - The company strictly adheres to various environmental protection laws and standards during its operations, including the Air Pollution Prevention and Control Law and the Water Pollution Prevention and Control Law[80]. - The company has implemented a comprehensive environmental monitoring system, with real-time data uploaded to regulatory platforms[91]. - The company reported a total nitrogen oxide emissions of 20.42 tons per year, with no exceedance of standards[83]. - The company achieved a non-methane total hydrocarbon emission of 1.168 tons per year, remaining compliant with environmental regulations[84]. Shareholder Information - A total of 240 employees from the company and its subsidiaries hold 15,118,035 shares, representing 1.03% of the total share capital[77]. - The largest shareholder, Shenzhen Le Ren Technology Co., Ltd., holds 32.31% of shares, totaling 474,029,899[121]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period[125]. Financial Position - Total assets at the end of the reporting period were ¥18,573,510,350.97, a decrease of 3.28% from ¥19,203,415,131.24 at the end of the previous year[12]. - The company's total liabilities decreased to CNY 3,977,865,906.81 in the first half of 2024 from CNY 4,973,733,165.30 in the first half of 2023, a reduction of approximately 20%[143]. - The total equity of the company increased to CNY 8,961,083,565.77 in the first half of 2024, up from CNY 8,882,940,836.16 in the same period of 2023[143]. Compliance and Governance - The company received a corrective action order from the China Securities Regulatory Commission due to internal control deficiencies[96]. - The company has developed a rectification plan in response to regulatory findings, which was approved by the board of directors[97]. - The company has maintained compliance with environmental protection tax obligations and has purchased environmental liability insurance[89].

Financial Performance - The company expects a net profit attributable to shareholders of between 642.28 million and 734.82 million yuan for the first half of 2024, representing a year-on-year increase of 420.70% to 495.72% compared to 123.35 million yuan in the same period last year[8]. - The net profit after deducting non-recurring gains and losses is projected to be between 308.07 million and 400.61 million yuan, reflecting a year-on-year growth of 286.96% to 403.20% from 79.61 million yuan last year[8]. - The basic earnings per share is expected to be between 0.4377 yuan and 0.5008 yuan, compared to 0.0841 yuan per share in the same period last year[8]. Market and Industry Trends - The heparin industry chain's operating environment has improved, with signs of market demand recovery, leading to a positive development trend in the heparin formulation business[9]. - The global demand for heparin API has rebounded, with a significant increase in export volume from China compared to the same period last year, despite a notable decline in export prices due to upstream raw material price drops[10]. Investment Strategy - The company has disposed of part of its equity in HighTide Therapeutics, Inc., which is expected to generate over 250 million yuan in investment income, to be included in non-recurring gains and losses[10]. - The company continues to optimize its external investment strategy to maximize shareholder interests and has made significant progress in its investment portfolio[10]. Business Operations - The CDMO business has continued its recovery, with the company strengthening strategic partnerships with existing clients and exploring new customer groups[4]. - The gross profit margin of formulation products has improved compared to the same period last year, excluding the impact of centralized procurement pricing in the Chinese market[3]. - The company emphasizes maintaining a good pricing system and cost control efficiency in its heparin API business, achieving better average prices than the overall export average from China[10].

北京中银（深圳）律师事务所 关于深圳市海普瑞药业集团股份有限公司 2023 年年度股东大会的 法律意见书 地址：深圳市福田区益田路 6003 号荣超商务中心 A 座 5、6 层 电话：（86-755）82531588 传真：（86-755）82531555 邮编：518026 北京中银（深圳）律师事务所 法律意见书 北京中银（深圳）律师事务所 关于深圳市海普瑞药业集团股份有限公司 2023 年年度股东大会的 法律意见书 致：深圳市海普瑞药业集团股份有限公司 北京中银（深圳）律师事务所（以下简称"本所"）接受深圳市海普瑞药业集 团股份有限公司（以下简称"公司"）委托，就公司召开 2023 年年度股东大会（以 下简称"本次股东大会"）的有关事宜，根据《中华人民共和国公司法》（以下简 称《公司法》）《上市公司股东大会规则》等法律、法规、规章和其他规范性文 件以及《深圳市海普瑞药业集团股份有限公司章程》（以下简称《公司章程》） 的有关规定，出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了法定职责，遵循了勤 ...

Financial Performance - Revenue for 2023 was RMB 5,430,974, a decrease of 24.1% compared to RMB 7,151,039 in 2022[23]. - Profit before tax for 2023 was a loss of RMB 928,334, compared to a profit of RMB 829,851 in 2022[23]. - Basic earnings per share for 2023 was a loss of RMB 0.53, down from a profit of RMB 0.50 in 2022[23]. - Operating income for 2023 was RMB 5,431.0 million, a decrease from RMB 7,151.0 million in 2022, reflecting the impact of the post-epidemic era[29]. - Overall gross profit margin decreased by 14.7 percentage points to 17.3% in 2023, down from 32.0% in 2022[29]. - Loss attributable to shareholders on a consolidated basis was RMB 783.3 million in 2023, compared to a profit of RMB 727.4 million in 2022[29]. - Net operating cash inflow was RMB 398.2 million in 2023, a significant recovery from a net outflow of RMB 756.7 million in 2022[29]. - Gross profit for 2023 decreased by RMB 1,349.3 million to RMB 940.9 million, compared to RMB 2,290.2 million in 2022, with a gross profit margin decline of 14.7 percentage points to 17.3%[79]. - Adjusted gross profit for 2023 was approximately RMB 1,796.3 million, with an adjusted gross profit margin of approximately 33.1%, an increase from 32.5% in 2022[80]. - The loss attributable to equity holders was RMB 783.3 million, while the adjusted profit attributable to equity holders was RMB 387.0 million, down from RMB 841.9 million in 2022[51]. Market and Sales Performance - The Group's enoxaparin finished dose pharmaceutical products maintained stable global sales volumes, holding the second-largest market share in Europe[32]. - In the U.S. market, the Group's enoxaparin products received FDA approval and launched in June 2023, actively increasing market share[32]. - The Group secured first place in China's 8th national volume-based procurement, obtaining contracts from five provinces as primary suppliers[32]. - The Group's marketing strategies in Europe led to steady revenue growth in finished dose pharmaceutical products despite global destocking trends[32]. - The Group expanded its market presence in new regions such as Australia and Ecuador, maintaining a solid second position in international non-European and American markets[32]. - The heparin industrial chain business achieved sales revenue of RMB4,286.3 million, a decrease from RMB5,884.3 million in 2022[54]. - Finished dose pharmaceutical products sales revenue was RMB2,979.0 million, accounting for 54.9% of total revenue, with a gross profit of RMB1,284.6 million, reflecting a 13.4% increase year-on-year[54]. - The heparin API business reported sales revenue of approximately RMB1,307.3 million, down from RMB2,673.8 million in 2022, accounting for 24.1% of total revenue[57]. - The CDMO business generated sales revenue of approximately RMB967.0 million, a decline from RMB1,084.1 million in 2022, with a gross profit margin decreasing to 22.0%[59]. Challenges and Risks - The CDMO business faced challenges with a revenue decline due to the end of key enzyme orders for mRNA COVID-19 vaccines, but recovery efforts in Q4 helped offset losses[33]. - The external environment remains complex and uncertain, with rising interest rates and tightening credit posing challenges to growth[39]. - The Company experienced a fraudulent incident involving approximately EUR 11.74 million, with about EUR 9.74 million (RMB 74.5 million) fraudulently transferred in 2023[44]. - The significant increase in the cost of sales was attributed to the accounting treatment of including impairment losses on inventory in the cost of sales of APIs[79]. - The company faces risks related to market acceptance of its products, which could adversely impact operations and profitability[194]. - The company’s CDMO business is dependent on customer demand for outsourced biologics, and a reduction in spending could materially affect its financial condition[196]. Strategic Initiatives - The Group plans to enhance its heparin business and increase sales volume and market share in various heparin markets while adjusting marketing strategies based on market dynamics[36]. - The Group will focus on improving internal management systems and risk management, collaborating with external experts to optimize internal control management planning in 2024[36]. - The Group aims to leverage its competitive advantages and capitalize on market opportunities to promote long-term sustainable development and maximize shareholder returns[38]. - The Group plans to optimize resource allocation to improve production capacity and meet future business needs more flexibly[74]. - Hepalink aims to explore new business growth points by collaborating with multinational pharmaceutical companies in Europe and the United States[52]. - The Group plans to actively expand the market size and diversify sales distribution in the API business to achieve market share expansion and solidify its leadership position in the API industry[73]. - Hepalink will increase efforts on market expansion of enoxaparin API and promote sales of high-tech, high-quality, and high-value-added enoxaparin API products for steady revenue growth[73]. Governance and Management - The Group has a strong management team with extensive experience across various pharmaceutical sectors, enhancing its strategic capabilities[97]. - The focus on human resources management is crucial for supporting the Group's operational needs and growth[97]. - The Group's strategic committee includes key members who participate in formulating and implementing business strategies[97]. - The Company is committed to maintaining a comprehensive risk management framework to strengthen internal monitoring and risk management capabilities[74]. - The Group has established a framework to safeguard shareholder interests and enhance corporate value through good governance practices[200]. Shareholder Information - The Group's distributable reserves as of December 31, 2023, were RMB 913 million[118]. - The Board has resolved not to declare a final dividend for the year ended December 31, 2023, compared to RMB 1.0 per ten ordinary shares in 2022[111][113]. - The total beneficial ownership of shares by substantial shareholders indicates a concentration of ownership, with the top three shareholders holding over 100 million shares each[170]. - The report highlights compliance with the Securities and Futures Ordinance regarding the disclosure of interests and short positions in shares[168]. - The company has a significant shareholding structure, with major shareholders including Leren Technology and Jintiantu, which together control over 70% of the shares[170]. Future Outlook - The Chairman expressed a cautiously optimistic outlook for business recovery and financial turnaround, emphasizing the importance of cost control for robust financial performance[37]. - The Company is optimistic about future prospects and will continue to implement its existing strategy while observing market trends[74]. - The Group plans to fully utilize the remaining Net Proceeds on or before November 30, 2025[122].

Financial Performance - The company's operating revenue for Q1 2024 was RMB 1,373,251,921.93, representing a 5.55% increase compared to RMB 1,301,021,684.04 in the same period last year[3]. - Net profit attributable to shareholders for Q1 2024 was RMB 155,040,262.39, a significant increase of 133.00% from RMB 66,540,023.25 in the previous year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 157,052,354.18, reflecting a 253.00% increase from RMB 44,491,211.83 year-on-year[3]. - Basic and diluted earnings per share for Q1 2024 were both RMB 0.1057, up 133.33% from RMB 0.0453 in the previous year[3]. - Operating profit for the reporting period reached RMB 196.85 million, a 167.28% increase compared to the same period last year, primarily due to increased gross profit and reduced expenses[9]. - The total profit for the current period is RMB 181,205,852.66, a significant increase of 133.3% compared to RMB 77,557,847.95 in the previous period[24]. - Net profit attributable to the parent company is RMB 155,040,262.39, up from RMB 66,540,023.25, representing a growth of 132.7%[24]. - The operating profit for the current period is RMB 196,847,737.66, compared to RMB 73,649,081.61 in the previous period, indicating an increase of 167.1%[24]. - The total comprehensive income for the current period is RMB 150,135,056.48, which is an increase of 142.3% from RMB 61,856,551.06 in the previous period[26]. Cash Flow - The net cash flow from operating activities reached RMB 880,453,882.15, a remarkable turnaround from a negative cash flow of RMB -213,979,198.80 in the same period last year, marking a 511.47% improvement[3]. - Cash inflow from operating activities is RMB 1,664,646,503.27, down from RMB 1,936,382,607.31, a decrease of 14%[27]. - Cash outflow from operating activities totals RMB 784,192,621.12, a decrease from RMB 2,150,361,806.11, indicating a reduction of 63.5%[28]. - Net cash flow from operating activities is RMB 880,453,882.15, a significant recovery from a negative cash flow of RMB -213,979,198.80 in the previous period[28]. - Cash inflow from investment activities is RMB 441,112,963.21, down from RMB 1,206,613,179.47, a decrease of 63.4%[28]. - Net cash flow from investment activities is RMB 130,688,287.99, a decrease of 83.6% compared to RMB 795,650,734.04 in the previous period[28]. - Cash inflow from financing activities totaled approximately ¥835.83 million, down from ¥1,604.26 million in the previous period, representing a decrease of about 47.9%[29]. - Cash outflow from financing activities amounted to approximately ¥1,506.67 million, compared to ¥1,723.83 million last period, indicating a decrease of about 12.6%[29]. - Net cash flow from financing activities was negative at approximately -¥670.83 million, worsening from -¥119.57 million in the previous period[29]. - The net increase in cash and cash equivalents for the period was approximately ¥342.74 million, down from ¥433.44 million in the previous period[29]. - The ending balance of cash and cash equivalents reached approximately ¥2,108.38 million, an increase from ¥1,753.15 million in the previous period[29]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 18,874,970,670.54, a decrease of 1.71% from RMB 19,203,415,131.24 at the end of the previous year[3]. - Total liabilities decreased to RMB 6,736,457,897.24 from RMB 7,215,037,414.42, reflecting a reduction of about 6.6%[21]. - The company's total equity increased to RMB 12,138,512,773.30 from RMB 11,988,377,716.82, reflecting a growth of approximately 1.3%[22]. - Cash and cash equivalents at the end of the period were RMB 2,225,125,933.99, compared to RMB 1,851,642,224.58 at the beginning of the period, showing an increase of about 20.2%[18]. - Inventory decreased to RMB 6,341,627,515.17 from RMB 6,654,110,787.81, indicating a decline of approximately 4.7%[18]. - Long-term equity investments decreased to RMB 943,735,674.53 from RMB 1,004,045,899.43, a decrease of about 6.0%[19]. - Total operating costs decreased to RMB 1,184,463,117.86 from RMB 1,239,337,824.93, indicating a reduction of about 4.4%[23]. Research and Development - Research and development expenses for Q1 2024 were RMB 35,294,968.25, an increase of 33.11% compared to RMB 26,514,765.57 in the same period last year[8]. - Research and development expenses increased to RMB 35,294,968.25, up from RMB 26,514,765.57, representing a growth of approximately 33.2%[23]. Market Strategy - The company plans to accelerate its sales strategy in New Zealand and Thailand following the approval of its heparin sodium injection in these markets[11]. - The company is focusing on expanding its market share in the heparin sodium formulation business, ranking second in sales in Europe during the reporting period[12]. - The CDMO business has shown significant revenue growth compared to the previous year, driven by the integration of resources and expansion of customer base[13]. - The company aims to enhance its development momentum and fully leverage its competitive advantages to achieve breakthrough growth in 2024[14]. - The focus will be on expanding sales in key overseas markets, particularly in Europe and the United States, while also targeting new non-European and non-American markets[14]. - In the heparin industry chain, the company will continue to prioritize centralized procurement in the Chinese market to drive sales growth[14]. - The company plans to implement a dual-driven platform strategy in its CDMO segment to maximize project value for clients and improve the success rate of ongoing projects[14]. Shareholder Information - The company reported a total of 28,328 common shareholders at the end of the reporting period, with the top two shareholders holding 60.12% of the shares[15]. - Shenzhen Le Ren Technology Co., Ltd. holds 32.31% of the shares, while Xiamen Jintian Soil Investment Partnership holds 27.81%[15]. Financial Incidents - The company experienced a telecom fraud incident involving approximately €11.7 million, with an impact of RMB 15.56 million on pre-tax profit and net profit for 2024[17]. - The actual controller of the company provided an advance payment of RMB 89.81 million to safeguard the interests of the company and its investors[17]. Financial Management - The company is actively managing its financial structure and cost control to balance financial risks and reduce capital costs[11]. - The company will continue to adopt prudent financial and liquidity management to enhance management efficiency and risk control[14]. - The company is committed to maximizing asset value and improving profitability through resource integration and strategic investments[14].

Financial Performance - The company's revenue for Q1 2024 was CNY 1,373,251,921.93, representing a 5.55% increase compared to CNY 1,301,021,684.04 in the same period last year[6]. - Net profit attributable to shareholders was CNY 155,040,262.39, a significant increase of 133.00% from CNY 66,540,023.25 year-on-year[6]. - The net profit after deducting non-recurring gains and losses reached CNY 157,052,354.18, marking a 253.00% increase from CNY 44,491,211.83 in the previous year[6]. - Basic earnings per share rose to CNY 0.1057, reflecting a 133.33% increase from CNY 0.0453 in the previous year[6]. - The net profit for the current period is CNY 154,597,836.94, compared to CNY 65,948,644.12 in the previous period, representing an increase of approximately 134%[36]. - The total comprehensive income for the current period is CNY 150,135,056.48, up from CNY 61,856,551.06 in the previous period, indicating a growth of about 143%[36]. Cash Flow and Liquidity - The net cash flow from operating activities improved to CNY 880,453,882.15, a 511.47% increase compared to a negative cash flow of CNY -213,979,198.80 in the same quarter last year[6]. - Cash and cash equivalents increased to CNY 2,225,125,933.99 from CNY 1,851,642,224.58, a growth of approximately 20.2%[27]. - The cash and cash equivalents at the end of the period reached CNY 2,108,383,601.96, compared to CNY 1,753,147,431.84 at the end of the previous period, marking an increase of approximately 20%[43]. - The company reported cash inflows from investment activities of CNY 441,112,963.21, down from CNY 1,206,613,179.47 in the previous period, reflecting a decrease of about 63%[40]. - The company’s cash outflows from financing activities totaled CNY 1,506,667,399.54, down from CNY 1,723,828,354.57 in the previous period, reflecting a decrease of about 13%[43]. - The company received CNY 826,834,358.22 in cash from borrowings during the current period, compared to CNY 1,517,257,215.11 in the previous period, indicating a decrease of approximately 45%[43]. Operating Costs and Expenses - Total operating costs decreased to CNY 1,184,463,117.86 from CNY 1,239,337,824.93, a reduction of about 4.4%[34]. - The company incurred total operating expenses of CNY 358,344,170.74, a decrease from CNY 1,656,590,949.14 in the previous period, indicating a reduction of approximately 78%[40]. - The company faced a notable increase in other expenses, primarily due to a telecom fraud incident involving its subsidiary Techdow Pharma Italy S.R.L., resulting in an expense of CNY 15,559,523.79[12]. Research and Development - The company's R&D expenses increased by 33.11% to CNY 35,294,968.25, compared to CNY 26,514,765.57 in the same period last year[12]. - Research and development expenses rose to CNY 35,294,968.25 from CNY 26,514,765.57, an increase of approximately 33.1%[34]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 28,328[16]. - Shenzhen Le Ren Technology Co., Ltd. holds 32.31% of shares, totaling 474,029,899 shares[16]. - Xiamen Jintian Investment Partnership (Limited Partnership) holds 27.81% of shares, totaling 408,041,280 shares[16]. - HKSCC NOMINEES LIMITED holds 15.00% of shares, totaling 220,036,980 shares[16]. - The company has a total of 46,425,600 shares held by Xiamen Water Dripping Stone Investment Partnership (Limited Partnership)[20]. - The company has a total of 40,320,000 shares held by Xiamen Feilai Stone Investment Co., Ltd.[20]. Fraud Incident - The company suffered a telecom fraud involving approximately €11.7 million, impacting net profit by RMB 15.56 million[21]. - The actual controller, Li Li, provided an advance payment of RMB 89,809,600 to safeguard the company's interests[21]. - The company has initiated an independent third-party investigation regarding the fraud incident[21]. Asset and Liability Overview - Total assets at the end of the reporting period were CNY 18,874,970,670.54, a decrease of 1.71% from CNY 19,203,415,131.24 at the end of the previous year[6]. - Total liabilities decreased to CNY 6,736,457,897.24 from CNY 7,215,037,414.42, a reduction of approximately 6.6%[30]. - Shareholders' equity increased to CNY 12,138,512,773.30 from CNY 11,988,377,716.82, reflecting a growth of about 1.3%[33]. - Inventory decreased to CNY 6,341,627,515.17 from CNY 6,654,110,787.81, a decline of about 4.7%[27]. Other Financial Metrics - The company reported a significant increase in fair value gains of 161.07%, amounting to CNY 27,621,985.05, compared to CNY 10,580,213.43 in the previous year[12]. - The company experienced a substantial increase in operating profit, which reached CNY 196,847,737.66, a 167.28% increase from CNY 73,649,081.61 year-on-year[12]. - Net loss from investments was CNY -61,890,173.43, worsening from CNY -13,710,428.46 in the previous year[34]. - Gross profit margin improved, with operating costs at CNY 899,550,310.44 compared to CNY 846,991,799.17, indicating a more efficient cost structure[34].