证券代码：002399 证券简称：海普瑞 公告编号：2025-021 根据外部市场环境结合公司全球业务发展的需求，经公司于2025年4月24日 召开的第六届董事会第十五次会议审议通过，决定对原增资方案进行调整，将原 增资金额1.05亿美元调整为3,192万美元，其余内容不变。 调整后的增资金额在公司董事会决策权限内，无需提交股东大会审议批准。 上述调整增资方案的事项不构成关联交易，亦不构成《上市公司重大资产重组管 理办法》规定的重大资产重组。 一、增资标的的基本情况 （一）多普乐 关于向全资子公司天道医药（香港）有限公司增资 的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示 经深圳市海普瑞药业集团股份有限公司（以下简称"公司"或"海普瑞"） 于2021年12月10日召开的第五届董事会第十五次会议审议通过，公司决定使用H 股募集资金1.05亿美元以逐层增资的方式向全资子公司天道医药（香港）有限公 司（以下简称"香港天道"）增资，用于欧盟及其他全球市场拓展销售及营销网 络以及基础设施的建设。具体增资路径为海普瑞向其全资子公司深圳市多普乐实 ...

深圳市海普瑞药业集团股份有限公司（以下简称"公司"）的全资孙公司深圳 市天道医药有限公司（以下简称"天道医药"）近期收到南非卫生产品管理局（South African Health Products Regulatory Authority）签发的依诺肝素钠注射液批准通知。 现将相关情况公告如下： （五）适应症： （六）许可有效期：五年 证券代码： 002399 证券简称：海普瑞 公告编号：2025-024 深圳市海普瑞药业集团股份有限公司 关于依诺肝素钠注射液获得南非药品注册批件的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、基本情况 《证券时报》《证券日报》《中国证券报》《上海证券报》和巨潮资讯网 （www.cninfo.com.cn）为公司指定信息披露媒体，公司所有信息均以在上述指定媒 体刊登的信息为准。公司将严格按照有关法律法规的规定和要求，认真履行信息披 露义务，及时做好信息披露工作。 公司郑重提请投资者注意：投资者应充分了解股票市场风险及公司定期报告 中披露的风险因素，审慎决策、理性投资。 特此公告 深圳市海普瑞药业集团股份有限公司 二 ...

Financial Performance - Total revenue for the year ended December 31, 2024, was approximately RMB 5,258.9 million, a decrease of 3.2% from RMB 5,431.0 million in 2023[3] - Gross profit for the year was approximately RMB 1,739.3 million, with a gross margin of 33.1%, compared to a gross profit of RMB 940.9 million and a margin of 17.3% in 2023[3] - Profit attributable to equity holders of the parent company was approximately RMB 646.7 million, a significant recovery from a loss of RMB 783.3 million in 2023[3] - The net profit turned positive, amounting to approximately RMB 624.9 million, with profit attributable to equity holders of the company at approximately RMB 646.7 million[10] - The pre-tax profit for the group was RMB 640,893,000 in 2024, down from RMB 744,375,000 in 2023, indicating a decline of about 14%[68] - The total income tax expense for the year was RMB 101,311,000 in 2024, compared to a tax credit of RMB 126,175,000 in 2023[71] - Basic and diluted earnings per share were RMB 0.44, compared to a loss per share of RMB 0.53 in 2023[34] Revenue Breakdown - The sales revenue from the formulation business was approximately RMB 2,986.1 million, with a gross margin of 31.8%, compared to RMB 2,979.0 million and a margin of 43.1% in 2023[3] - The API business generated sales revenue of approximately RMB 1,065.7 million, with a gross margin of 38.6%, compared to RMB 1,307.3 million and a margin of -42.8% in 2023[3] - The CDMO business reported sales revenue of approximately RMB 1,033.8 million, with a gross margin of 32.9%, up from RMB 967.0 million and a margin of 22.0% in 2023[3] - The Heparin value chain business generated sales revenue of approximately RMB 4,051.8 million, a year-on-year decrease of about 5.5%[12] - The group's API business sales revenue was approximately RMB 1,065.7 million, a year-on-year decrease of about 18.5%, while sales volume increased by approximately 10.8% compared to the same period in 2023, with a gross margin of approximately 38.6%[15] - CDMO services revenue increased by 6.9% to approximately RMB 1,033.8 million, contributing 19.7% to total revenue[26] Asset and Liability Management - Non-current assets totaled RMB 7,722.3 million, a decrease from RMB 8,599.1 million in 2023[6] - Current assets decreased to RMB 9,621.3 million from RMB 10,604.3 million in 2023, primarily due to a reduction in inventory[6] - Current liabilities decreased to RMB 3,699.2 million from RMB 4,986.2 million in 2023, reflecting improved liquidity management[6] - Total assets as of December 31, 2024, were approximately RMB 17,343.5 million, compared to RMB 19,203.4 million in 2023, with a debt-to-asset ratio of about 29.6%[40] - The total liabilities for the year ended December 31, 2024, were RMB 5,141,403,000, down from RMB 7,215,040,000 in 2023, reflecting a reduction of approximately 28.73%[54][56] Cash Flow and Financing - The company's cash flow from operating activities increased by approximately 451.0% to about RMB 2,194.1 million, compared to approximately RMB 398.2 million in 2023[9] - Financing costs decreased by approximately RMB 82.9 million to about RMB 145.2 million, a reduction of about 36.3% compared to RMB 228.1 million in 2023[30] - Cash and bank balances as of December 31, 2024, were approximately RMB 1,421.8 million, down from RMB 1,765.6 million in 2023[36] - Interest-bearing bank and other borrowings amounted to approximately RMB 3,448.2 million as of December 31, 2024, down from RMB 5,434.6 million in 2023[42] Dividends and Shareholder Information - The board proposed a final cash dividend of RMB 2.5 per share, with a payout ratio of 56.7%, compared to no dividend in 2023[3] - Proposed final dividend for 2024 is RMB 0.25 per share, totaling RMB 366,824 thousand, compared to no dividend in 2023[75] - The annual general meeting for the year 2024 will be held on May 22, 2025, with a notice to be published in due course[86] Research and Development - The group incurred research and development costs of RMB 212,036,000 in 2024, an increase of 16% from RMB 182,433,000 in 2023[68] - The candidate drug H1710 received approval for clinical trials from the National Medical Products Administration, indicating progress in the development of a new cancer treatment[18] - Oregovomab, a candidate drug for advanced ovarian cancer, is undergoing patient survival follow-up after a mid-term analysis of its Phase III clinical trial did not meet expected goals[19] - AR-301, a monoclonal antibody targeting Staphylococcus aureus, has received Fast Track designation from the FDA and orphan drug status from the EMA, with plans for a second Phase III study based on promising data in specific patient groups[20] Market Strategy and Operations - The company is focusing on enhancing its business capabilities and operational quality while optimizing its business structure to improve sales growth and operating profit[9] - The company plans to continue its globalization strategy, deepening its market presence in Europe, China, the United States, and other non-European and American markets[9] - The group is actively adjusting market strategies to cope with competitive pressures, focusing on maintaining price systems and enhancing product competitiveness[15] - The group is expanding its market coverage and deepening existing customer relationships while actively developing new customer bases in the CDMO sector[16] Compliance and Governance - The audit committee reviewed the consolidated annual performance for the year ending December 31, 2024, and confirmed compliance with relevant accounting standards and regulations[90] - Ernst & Young confirmed that the financial figures in the preliminary announcement align with the consolidated financial statements for the year ending December 31, 2024[91] - The company has not made any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[81]

Financial Performance - The company's operating revenue for 2024 was ¥5,280,713,410.80, a decrease of 3.03% compared to ¥5,445,572,060.12 in 2023[6]. - The net profit attributable to shareholders for 2024 was ¥646,741,666.49, representing a significant increase of 182.57% from a loss of ¥783,258,039.42 in 2023[6]. - The cash flow from operating activities reached ¥2,194,132,237.51, marking a substantial increase of 450.99% compared to ¥398,215,676.99 in 2023[6]. - Basic earnings per share for 2024 were ¥0.4408, a turnaround from a loss of ¥0.5338 in 2023, reflecting an increase of 182.58%[6]. - The total assets at the end of 2024 were ¥17,343,523,964.97, a decrease of 9.69% from ¥19,203,415,131.24 at the end of 2023[6]. - The company reported a weighted average return on equity of 5.39% for 2024, an improvement of 11.99% from -6.60% in 2023[6]. - The company experienced a significant increase in net profit excluding non-recurring gains and losses, which was ¥253,544,139.42 in 2024 compared to a loss of ¥779,841,459.91 in 2023, an increase of 132.51%[6]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.50 per 10 shares to all shareholders, based on a total of 1,467,296,204 shares[5]. - The cash dividend plan for 2024 proposes a distribution of ¥366,824,051, with a per-share dividend of ¥2.50 based on a total share capital of 1,467,296,204 shares[157]. - The company will not distribute cash dividends or issue bonus shares for the 2023 fiscal year, as approved in the shareholder meeting[155]. Business Operations - The company has not reported any changes in its main business operations since its listing[20]. - The company operates under the supervision of the National Medical Products Administration and adheres to Good Manufacturing Practices (GMP)[15]. - The company's main business includes the heparin industry chain, biopharmaceutical CDMO, and innovative drug investment, development, and commercialization[34]. - The heparin product line includes enoxaparin sodium preparations and heparin sodium raw materials, with a focus on high-quality and effective medications[35]. - The company has developed approximately 200 different molecular structures in the CDMO sector, demonstrating strong delivery records[38]. - The company provides comprehensive CDMO services, including development and cGMP manufacturing for biopharmaceuticals[43]. Market and Economic Environment - The company faced challenges in the global economy, with the IMF projecting global growth rates of 3.2% and 3.3% for 2024 and 2025 respectively[31]. - The company noted that the European economy is under pressure due to energy price fluctuations and geopolitical risks, impacting overall growth[31]. - The Asian market showed mixed performance, with China maintaining growth resilience despite internal demand weakening, while India is expected to exceed a growth rate of 6%[31]. - The company has seen a 5% year-on-year growth in GDP, indicating a positive economic environment for its operations[33]. Research and Development - R&D expenses increased by 16.23% to CNY 212,035,640.41, primarily due to increased investment in research projects[77]. - The company aims to enhance product quality through advanced research projects, including the synthesis of heparin precursors and polysaccharides[79]. - The company plans to accelerate the drug development process for RVX-208, which has received breakthrough therapy designation from the FDA[65]. - The company is committed to optimizing organizational structure and resource allocation to improve operational efficiency and profitability[111]. Risk Management - The company has detailed its future risks and corresponding mitigation strategies in the report[5]. - The company faces risks associated with new drug development, including potential failures during clinical trials, and will continue to manage resources effectively to advance its pipeline[117]. - The company faces significant foreign exchange risk due to major revenues coming from overseas markets, primarily settled in euros and US dollars, which may lead to substantial exchange gains or losses[118]. - The company has established a financial derivatives trading management system to mitigate risks associated with derivative transactions[100]. Corporate Governance - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[125]. - The company maintains a transparent information disclosure system, ensuring all investors have equal access to information[127]. - The company has implemented a strict insider information management system, with no reported insider trading incidents during the reporting period[128]. - The company actively engages with investors to enhance understanding and communication, adhering to investor relations management regulations[127]. Environmental Compliance - The company strictly adhered to multiple environmental protection laws and standards during its operations, including the Air Pollution Prevention and Control Law[169]. - The company holds valid pollution discharge permits for its facilities, with the latest permit for the Pingshan plant valid until October 29, 2029[170]. - The company reported a total emission of VOCs at 2.979 tons per year, which is within the regulatory limits[171]. - The company has established comprehensive wastewater and waste gas treatment facilities, ensuring that wastewater discharge is below the total amount approved by the discharge permit[175]. Employee and Management Structure - The total number of employees at the end of the reporting period is 1,926, with 839 in the parent company and 1,087 in major subsidiaries[150]. - The professional composition includes 680 production personnel, 123 sales personnel, 787 technical personnel, 64 financial personnel, and 272 administrative personnel[150]. - The company emphasizes a competitive and fair compensation policy, aligning employee remuneration with performance and market standards[152]. - The company has a performance evaluation system for determining the remuneration of directors and senior management[141].

Financial Performance - The company expects a net profit attributable to shareholders of between 58.9 million and 71.1 million yuan for 2024, a significant recovery from a loss of 78.3 million yuan in the previous year[2] - The net profit after deducting non-recurring gains and losses is projected to be between 21.4 million and 31.2 million yuan, compared to a loss of 77.98 million yuan in the same period last year[2] - Basic earnings per share are anticipated to be between 0.4014 yuan and 0.4846 yuan, recovering from a loss of 0.5338 yuan per share in the previous year[2] Market Conditions - The heparin industry chain's operating environment has improved, with a gradual recovery in market demand, leading to growth in sales of the main product, enoxaparin sodium, across various markets[4] - The global demand for heparin API has improved year-on-year, with an increase in export volume from China, although the average export price has significantly decreased due to lower raw material prices[4] Business Development - The company's CDMO business continues to recover, strengthening strategic partnerships with existing clients and exploring new customer groups to enhance revenue and profitability[5] - The company has optimized its external investment strategy, achieving significant progress and good investment returns during the reporting period[5]

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].