2021 年第一季度报告 公司代码：600227 公司简称：圣济堂 贵州圣济堂医药产业股份有限公司 2021 年第一季度报告 1 / 24 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 2021 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人丁林洪主管会计工作负责人丁林洪及会计机构负责人（会计主管人员）吴洪艳保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 2021 年第一季度报告 | 计入当期损益的对非金融企业收取的资金占用费 | | | --- | --- | | 企业取得子公司、联营企业及合营企业的投资成本小于取得投资时应 | | | 享有被投资单位 ...

公司代码：600227 公司简称：圣济堂 贵州圣济堂医药产业股份有限公司 2020 年第三季度报告 1 / 26 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 错误！未定义书签。 | | | 三、 | 重要事项 错误！未定义书签。 | | | 四、 | 附录 | 9 | 2020 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 2020 年第三季度报告 1.4 本公司第三季度报告未经审计。 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | | 上年度末 | | 本报告期末比上 年度末增减(%) | | | --- | --- | --- | --- | --- | --- | --- | | 总资产 | 4,807,841,050.92 | | 4,705,287,386.48 | | 2.18 | | | 归属于上市公司股东的净 | 3,206,071,729.57 | | 3,164,5 ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 759,573,252.65, a decrease of 18.97% compared to the same period last year[15]. - The net profit attributable to shareholders was CNY 14,806,882.45, a significant recovery from a loss of CNY 21,657,559.44 in the previous year[15]. - The net cash flow from operating activities increased by 153.22% to CNY 195,928,214.08 compared to the same period last year[15]. - The total assets at the end of the reporting period were CNY 4,654,384,119.36, a decrease of 1.08% from the end of the previous year[15]. - The net assets attributable to shareholders increased by 0.54% to CNY 3,181,512,386.05 compared to the end of the previous year[15]. - Basic earnings per share for the first half of 2020 were CNY 0.0087, compared to a loss of CNY 0.0130 in the same period last year[16]. - The weighted average return on net assets increased by 0.92 percentage points to 0.47% compared to the same period last year[16]. - The company achieved a total revenue of 759,573,252.65 RMB, a decrease of 18.97% compared to the previous year[45]. - The company's operating costs were 539,742,204.00 RMB, down 27.19% year-on-year[45]. - The company reported a net profit of 703,000 RMB, a decrease of 85.41% compared to the previous year[44]. Market and Industry Analysis - The company operates in two main business segments: fertilizer and chemical production, primarily focusing on urea and methanol[20]. - The annual production capacity of the wholly-owned subsidiary Tongzi Chemical is 520,000 tons of urea and 300,000 tons of methanol[20]. - In the first half of 2020, the average operating rate of domestic urea plants was approximately 63%, with a total production of 27.127 million tons, an increase of 882,000 tons year-on-year[25]. - The domestic urea industry saw a decrease in profits compared to 2019, with the overall price of urea in 2020 being lower than in 2019[26]. - In the first five months of 2020, China imported approximately 600 tons of urea, a decrease of about 99.4% compared to the same period in 2019, while exports totaled about 1.4979 million tons, down approximately 8% year-on-year[25]. - The methanol market experienced a significant price decline due to the impact of the domestic pandemic and falling crude oil prices, with many production enterprises facing prices below cost[27]. Operational Strategies - The company adheres to strict procurement practices, ensuring raw material quality and stable supply through collaboration with reputable suppliers and competitive bidding[21]. - The production model is based on sales forecasts, with a detailed internal planning process to ensure production aligns with market demand[22]. - The sales strategy includes a distribution model where products are sold to certified pharmaceutical distribution companies, which then sell to hospitals and pharmacies[23]. - The company is focused on brand building and patient education to enhance product awareness and increase market penetration[24]. - The company maintains a market share of 70-80% in the Guizhou urea market, with an annual demand of approximately 500,000 to 550,000 tons[28]. - The company has a comprehensive diabetes product line, including seven oral formulations, positioning it strongly in the diabetes treatment market[35]. Research and Development - R&D expenses decreased by 10.46% to ¥29,064,959.10 compared to the previous period[46]. - The company reported a significant increase in development expenditures by 519.42% to ¥19,973,128.98, reflecting increased investment in new drug research[54]. Environmental and Social Responsibility - The company actively participated in social responsibility initiatives, especially during the COVID-19 pandemic, by donating medical supplies and funds[92]. - The company provided a total of 230.59 million RMB in funding for poverty alleviation projects during the first half of 2020[89]. - The company donated medical supplies worth 171.28 million RMB to the Guizhou Red Cross in February 2020 to combat COVID-19[90]. - The company donated a total of 100 tons of fertilizer to support agricultural recovery efforts in various towns[93]. Legal and Compliance - The company is involved in a significant lawsuit regarding a construction contract dispute with China Power Construction Group, with ongoing developments[73]. - The company received a disciplinary notice from the Shanghai Stock Exchange on May 12, 2020, regarding a public reprimand for violations involving Guizhou Shengjitang Pharmaceutical Industry Co., Ltd. and its controlling shareholder[77]. - The company has completed rectification measures related to the disciplinary actions as of November 30, 2019[78]. Shareholder and Capital Structure - The total number of common shareholders at the end of the reporting period was 62,467[110]. - The largest shareholder, Guizhou Yuyang Trading Co., Ltd., held 447,733,356 shares, accounting for 26.44% of total shares[111]. - The company reported no changes in its total share capital and structure during the reporting period[107]. - The company has five subsidiaries included in the consolidated financial statements for the first half of 2020[166]. Financial Management - The total liabilities decreased to ¥1,461,550,135.46 from ¥1,527,786,163.95, reflecting a decline of approximately 4.3%[122]. - The total equity attributable to shareholders increased to ¥3,181,512,386.05 from ¥3,164,576,125.02, marking a growth of about 0.5%[122]. - The company reported a non-current asset total of ¥3,063,728,709.66, down from ¥3,115,204,901.39, which is a decrease of approximately 1.7%[121]. - The company’s long-term investments in equity increased to ¥26,314,468.43 from ¥24,147,518.72, showing an increase of approximately 9%[121]. Accounting and Financial Reporting - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial status and operating results accurately[169]. - The company's accounting period runs from January 1 to December 31 each year[170]. - The company must adjust the initial investment cost of subsidiaries acquired under common control to reflect the financial results from the control date[182].

Financial Performance - In 2019, the company's operating revenue was CNY 2,026,286,236.70, a decrease of 16.64% compared to CNY 2,430,806,758.81 in 2018[20] - The net profit attributable to shareholders was CNY -1,709,715,926.23, compared to a profit of CNY 197,329,127.13 in 2018, indicating a significant loss[20] - The total assets at the end of 2019 were CNY 4,705,287,386.48, down 29.44% from CNY 6,668,953,203.82 in 2018[21] - The company's net assets attributable to shareholders decreased by 34.88% to CNY 3,164,576,125.02 from CNY 4,859,920,643.01 in 2018[21] - Basic earnings per share for 2019 were CNY -1.0098, a decline from CNY 0.1141 in 2018[22] - The weighted average return on net assets was -42.69% in 2019, a decrease of 46.85 percentage points from 4.16% in 2018[22] - The net cash flow from operating activities was CNY 140,093,494.34, down 73.23% from CNY 523,349,443.67 in 2018[20] - The company reported a cumulative undistributed profit of CNY -201,918.36 million as of December 31, 2019, which does not meet the conditions for profit distribution[5] - The company will not distribute cash dividends or issue bonus shares for the 2019 fiscal year due to negative distributable profits[5] Operational Highlights - The company reported non-recurring gains and losses totaling CNY 10.82 million in 2019, with significant losses in Q2 amounting to CNY 23.26 million[27] - The company’s fertilizer and chemical business includes the production and sales of urea and methanol, with an annual production capacity of 520,000 tons of urea and 300,000 tons of methanol[29] - The company implemented a production model based on sales, with an annual production plan of approximately 5,234,000 tons of urea in 2019, reflecting a year-on-year increase of about 4%[33] - The average operating rate of urea production facilities in China was around 60% in 2019, indicating a stable production environment despite some regional disruptions due to environmental regulations[34] - The company’s production processes utilize advanced technologies, with a focus on large-scale, automated operations, positioning it as a leader in modern coal chemical enterprises[38] - The company’s sales network has expanded nationwide, establishing a comprehensive distribution system through various promotional teams and partnerships with certified distributors[32] Market Trends and Challenges - The company anticipates challenges in the urea market in 2020, including potential demand weakening and uncertainties related to international trade and domestic supply conditions[35] - The company is facing significant risks that may adversely affect its future development strategies and operational goals[7] - The company is committed to maintaining strict production management standards to ensure compliance with GMP regulations and enhance product safety throughout the production process[31] - The company is enhancing its marketing management and has implemented a detailed assessment mechanism to boost sales performance across different regions[58] - The company is focusing on the healthcare sector, planning to divest from chemical fertilizer and chemical businesses to enhance economic efficiency and market competitiveness[157] Research and Development - The company has completed 58 technical upgrades and innovations, enhancing production efficiency and reducing energy consumption[49] - The company’s R&D investment amounted to RMB 976.33 million, representing 2.46% of operating revenue and 0.82% of net assets[90] - The company has ongoing R&D projects with significant investments, including RMB 877.23 million for Glimepiride raw materials, which has passed the quality and efficacy consistency evaluation[91] - The company is focusing on quality and efficacy consistency evaluations for several products, which is crucial for regulatory compliance and market acceptance[98] - The company has paused clinical trials for several products, including Metformin and Nifedipine sustained-release tablets[87] Environmental and Regulatory Compliance - The company is committed to maintaining compliance with environmental regulations, which have become increasingly stringent, particularly regarding pollutant emissions from raw material production[163] - The company’s subsidiary, Guizhou Chitianhua Tongzi Chemical Co., has consistently met environmental discharge standards[200] - The average concentration of particulate matter emissions from the boiler chimney was 25.50 mg/m3, compliant with national standards[200] - The average concentration of sulfur dioxide emissions was 125.50 mg/m3, also compliant with national standards[200] Social Responsibility - The company has actively participated in poverty alleviation efforts as part of its social responsibility initiatives[195] - The company invested a total of RMB 1.1942 million in 10 poverty alleviation projects in Guizhou Province in 2019[196] - The company reported zero individuals helped to escape poverty through its initiatives in 2019[197] - The company has no plans for future poverty alleviation initiatives as indicated in the report[199]

Financial Performance - Operating revenue for the period was CNY 285,656,270.32, representing a decline of 32.53% year-on-year[6] - The net profit attributable to shareholders was a loss of CNY 26,857,172.13, an improvement from a loss of CNY 32,024,364.62 in the previous year[6] - Basic and diluted earnings per share were both -CNY 0.0159, showing no improvement from the previous year[6] - The net loss for Q1 2020 was CNY -27,416,555.63, an improvement from a net loss of CNY -32,407,099.13 in Q1 2019, representing a reduction of approximately 15.5%[28] - Operating profit for Q1 2020 was CNY -26,203,899.47, compared to CNY -28,703,888.79 in Q1 2019, indicating a year-over-year improvement of 8.7%[27] - The company's total comprehensive loss for Q1 2020 was CNY -27,095,801.07, compared to CNY -32,407,099.13 in Q1 2019, showing a decrease of 16.5%[28] Cash Flow - Net cash flow from operating activities increased by 133.77% to CNY 76,419,556.21 compared to the same period last year[6] - Cash inflows from operating activities totaled CNY 279,524,600.41 in Q1 2020, down from CNY 401,219,367.16 in Q1 2019, a decline of 30.3%[31] - The company's management expenses decreased to CNY 8,212,230.83 in Q1 2020 from CNY 8,907,554.94 in Q1 2019, a reduction of 7.8%[29] - The company reported a net cash flow from investment activities of -¥33,149,642.89, a decline compared to a positive cash flow of ¥96,728,643.08 in the previous year[32] - Total cash inflow from operating activities was ¥220,288,981.75, while cash outflow was ¥183,463,780.88, resulting in a net cash flow of ¥36,825,200.87[33] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,694,086,750.38, a decrease of 0.24% compared to the end of the previous year[6] - Total liabilities as of March 31, 2020, were ¥705,056,693.59, a slight decrease from ¥709,755,521.61 at the end of 2019[25] - The total equity attributable to shareholders was ¥3,139,087,642.94, down from ¥3,164,576,125.02 at the end of 2019[22] - The company reported a negative retained earnings of CNY -1,425,701,768.10, indicating accumulated losses[37] - The company holds long-term equity investments valued at CNY 1,678,956,367.74[40] Shareholder Information - The total number of shareholders at the end of the reporting period was 67,011[9] - The largest shareholder, Guizhou Yuyang Trading Co., Ltd., held 26.44% of the shares, amounting to 447,733,356 shares[9] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 1,805,779.49, which are closely related to its normal business operations[7] - Other income increased by 101.84% to RMB 1,231,935.20 from RMB 610,344.84 year-on-year, attributed to increased government subsidies[15] Changes in Accounting Standards - The company implemented a new revenue recognition standard effective January 1, 2020, which affected the classification of contract liabilities[38] - The company implemented new revenue recognition standards starting January 1, 2020, affecting the reporting of contract liabilities[43]

| 目录 | | --- | 2019 年第三季度报告 公司代码：600227 公司简称：圣济堂 贵州圣济堂医药产业股份有限公司 2019 年第三季度报告 1 / 31 2.1 主要财务数据 3 / 31 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 9 | 2019 年第三季度报告 一、 重要提示 二、 公司基本情况 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准 确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人丁林洪、主管会计工作负责人丁林洪及会计机构负责人（会计主管人 员）吴焕保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 2019 年第三季度报告 | | 1 | | | | --- | --- | --- | --- | | 归属于上市公司股东的 | -1,673,625,577. | 189,589,700.8 ...

Financial Performance - The company's operating revenue for the first half of 2019 was ¥937,387,075.27, a decrease of 18.06% compared to ¥1,143,982,510.72 in the same period last year[14]. - The net profit attributable to shareholders of the listed company was -¥21,657,559.44, compared to a profit of ¥128,286,752.79 in the previous year, indicating a significant decline[14]. - The net cash flow from operating activities was ¥77,374,379.76, down 57.56% from ¥182,328,424.73 in the same period last year[14]. - The total assets at the end of the reporting period were ¥6,579,481,251.72, a decrease of 1.34% from ¥6,668,953,203.82 at the end of the previous year[14]. - The net assets attributable to shareholders of the listed company were ¥4,838,301,214.16, a slight decrease of 0.48% from ¥4,861,630,630.96 at the end of the previous year[14]. - The basic earnings per share for the first half of 2019 was -¥0.0130, compared to ¥0.0739 in the same period last year[15]. - The weighted average return on net assets was -0.45%, down from 2.71% in the previous year[15]. - The overall profit for the company was a loss of CNY 39.25 million, a decrease of CNY 42.25 million compared to the previous year, attributed to declining methanol prices[36]. - The net profit for the first half of 2019 was 48.17 million yuan, a decrease of 67.75% year-on-year[39]. Revenue and Sales - The company reported a total non-operating income and expenses of 624.86 million, with a net impact of minority interests at -767,577.94 and income tax impact at 51,545.02, resulting in a total profit of 6,130,209.03[18]. - The company’s sales network has expanded across major cities in China, establishing a comprehensive sales network and channels for its pharmaceutical products[23]. - The average price of urea in 2019 was lower than in 2018 but remained at a relatively high level compared to the past decade[24]. - The company’s production model is based on sales-driven production, with internal orders and delivery times determined by the sales department[22]. - In the first half of 2019, the company produced 254,000 tons of urea, a 13.51% increase, and 128,800 tons of methanol, a 13.88% increase[36]. - The sales volume of methanol reached 130,300 tons, reflecting a year-on-year increase of 21.11%[36]. - The company reported a total operating revenue of CNY 738.95 million, a decrease of 2.78% year-on-year, primarily due to lower average sales prices of methanol[36]. Market and Industry Trends - The domestic urea export volume in the first half of 2019 was approximately 1.76 million tons, a significant increase of 115.7 thousand tons compared to 603,000 tons in the same period of 2018[25]. - The domestic urea market is expected to face uncertainties in the second half of 2019, influenced by factors such as trade relations and natural gas supply[27]. - The Chinese diabetes medical market is expected to grow from $50 billion to over $100 billion in the next five years, indicating significant growth potential for domestic companies[29]. - The pharmaceutical industry is heavily influenced by policy changes, with reforms affecting production costs and profitability, posing operational risks for the company[57]. Research and Development - The company increased its R&D expenses by 176.95% to 32.46 million yuan, focusing on new product development including acarbose tablets and other diabetes-related products[42]. - The company aims to strengthen its position in the diabetes treatment market and accelerate the development of new products[38]. Environmental and Regulatory Compliance - The company has invested in multiple environmental protection facilities and strictly adheres to environmental regulations, but increased regulatory scrutiny may lead to higher environmental investment and potential production capacity impacts due to non-compliance[56]. - The company has established emergency response plans for environmental incidents, with the latest revisions filed in 2016 and 2018 for the chemical and pharmaceutical businesses, respectively[91]. - The company has implemented an environmental self-monitoring plan, conducting monthly and quarterly monitoring as required by environmental authorities[92]. Financial Position and Liabilities - The total liabilities decreased to CNY 1,726,425,527.00 as of June 30, 2019, compared to CNY 1,806,916,999.02 at the end of 2018, indicating a decline of 4.44%[114]. - The company's total equity was CNY 5,728,440,189.80 as of June 30, 2019, a decrease from CNY 5,756,381,111.55 at the end of 2018, reflecting a decline of 0.49%[118]. - The company reported a significant increase in expected liabilities by 1,176.8% to 18,503,860.64, mainly for anticipated litigation costs[49]. Corporate Governance and Shareholder Relations - The company has committed to compensating for any shortfall in actual net profit compared to the promised net profit during the compensation period through share compensation, with a maximum of 100% of the shares issued in the transaction[63]. - The company has established a commitment to protect the interests of minority shareholders during any necessary related transactions[65]. - The company has a clear policy to avoid any misuse of shareholder status for improper benefits, safeguarding the rights of minority shareholders[66]. Legal and Dispute Matters - The company filed an arbitration application with the China International Economic and Trade Arbitration Commission regarding the outstanding invoice issue[72]. - On June 18, 2019, the Shanghai Stock Exchange issued a disciplinary decision against Guizhou Shengjitang Pharmaceutical Industry Co., Ltd. and its responsible persons[73]. - There are no significant lawsuits or arbitration matters reported during the reporting period[70]. Future Outlook - Future outlook includes potential market expansion and new product development strategies to enhance revenue streams[120]. - The overall performance indicates a need for strategic adjustments to improve profitability and shareholder value moving forward[138].

证券代码：600227 证券简称：圣 济 堂 编号：临 2019－041 贵州圣济堂医药产业股份有限公司 关于参加 2019 年贵州上市公司投资者网上集体接待日 活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 为便于广大投资者更深入全面地了解公司情况、发展战略、 经营状况、融资计划、股权激励、可持续发展等投资者所关心的 问题，公司定于 2019 年 6 月 5 日下午 14:00-17:00 参加由贵州证 监局主办，贵州证券业协会、深圳市全景网络有限公司协办的主 题为"股东来了——构建和谐投资者关系"2019 年贵州上市公司 投资者网上集体接待日活动。现将有关事项公告如下： 本次集体接待日网上交流网址：投资者可以登录 http://rs.p5w.net 进入专区页面参与交流。 出席本次集体接待日的人员有：公司常务副总经理高敏红、 董事会秘书先正红、财务总监吴焕。 欢迎广大投资者积极参与。 贵州圣济堂医药产业股份有限公司董事会 二○一九年五月二十九日 ...

2019 年第一季度报告 公司代码：600227 公司简称：圣济堂 贵州圣济堂医药产业股份有限公司 2019 年第一季度报告 1 / 25 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 2019 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 | 项目 | 本期金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益 | | | | 越权审批，或无正式批准文件，或偶发性的税 | | | | 收返还、减免 | | | 3 / 25 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上 年度末增减(%) 总资产 6,656,570,830.28 6,668,953,203.82 -0.19% 归属于上市公司股东的净资产 4,829,340,958.36 4,861,630,630.96 -0.66% 年初至报告期末 上年初至上年报告 期末 比上年同期增减 (%) 经营活动产生的现金 ...

Financial Performance - Net profit attributable to shareholders was CNY -32,024,364.62, representing a decrease of 172.51% year-on-year [5]. - Operating revenue for the period was CNY 423,395,865.84, down 18.32% from CNY 518,338,863.02 in the same period last year [5]. - Basic earnings per share were CNY -0.0189, a decline of 174.41% from CNY 0.0254 in the same period last year [5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -34,124,094.65, a decrease of 178.32% year-on-year [5]. - Operating profit decreased by 153.72% year-on-year, resulting in a loss of RMB 28,703,888.79, impacted by low methanol prices and reduced pharmaceutical sales [14]. - The net profit for Q1 2019 was a loss of CNY 32,407,099.13, compared to a profit of CNY 44,163,453.71 in Q1 2018, indicating a significant decline [24]. - The total profit for Q1 2019 was a loss of CNY 28,280,037.45, compared to a profit of CNY 54,083,646.81 in Q1 2018 [24]. - The total comprehensive income for Q1 2019 was a loss of CNY 32,407,099.13, compared to a profit of CNY 44,163,453.71 in Q1 2018 [25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,656,570,830.28, a decrease of 0.19% compared to the end of the previous year [5]. - Total liabilities as of March 31, 2019, were CNY 549,601,001.76, an increase from CNY 534,344,643.76 at the end of 2018 [22]. - The equity attributable to shareholders was CNY 5,749,218,511.39 as of March 31, 2019, down from CNY 5,756,381,111.55 at the end of 2018 [23]. - Current liabilities included short-term borrowings of RMB 232,450,000.00, down from RMB 252,450,000.00 [19]. Cash Flow - The net cash flow from operating activities increased by 36.32% to CNY 32,689,673.59 compared to CNY 23,980,149.60 in the previous year [5]. - The cash flow from operating activities for Q1 2019 was CNY 394,347,808.99, an increase from CNY 363,889,817.09 in Q1 2018 [28]. - The company reported a total cash outflow from operating activities of ¥368,529,693.57, compared to ¥351,788,218.04 in the previous year [29]. - The net cash flow from financing activities was -¥126,747,856.01, compared to -¥109,118,138.86 in Q1 2018, indicating increased cash outflows [30]. - Investment activities generated a net cash flow of ¥89,596,509.89, a significant improvement from -¥85,866,098.00 in the previous year [33]. Shareholder Information - The total number of shareholders at the end of the reporting period was 80,344 [9]. - The largest shareholder, Guizhou Yuyang Trading Co., Ltd., held 447,733,356 shares, accounting for 26.44% of total shares [9]. Research and Development - Research and development expenses increased by 43.85% year-on-year to RMB 6,804,360.69 due to higher investment in subsidiary R&D [14]. - Research and development expenses increased to CNY 6,804,360.69 in Q1 2019, up from CNY 4,730,237.45 in Q1 2018, reflecting a growth of 43.8% [23]. Government Support - The company received government subsidies amounting to CNY 1,183,716.84 during the reporting period [5]. Market Outlook - Future outlook includes a focus on expanding R&D efforts and exploring new market opportunities [23].