Financial Performance - The company achieved a consolidated net profit attributable to shareholders of RMB 3,966,522,218.54 for the year 2022, with a base net profit of RMB 1,756,732,233.08, resulting in a 10% statutory surplus reserve of RMB 175,673,223.31[1] - The company reported a total distributable profit of RMB 8,063,724,029.08 after accounting for the cash dividend and retained earnings[1] - The company achieved a net profit of CNY 1.8 billion, which is a 15% increase compared to the previous year[12] - The company’s operating revenue for 2022 reached RMB 70,788,155 thousand, representing a year-on-year increase of 2.57% from RMB 69,014,052 thousand in 2021[13] - The total profit for the year was RMB 5,043,244 thousand, an increase of 6.78% compared to the previous year[21] - The net profit attributable to shareholders for 2022 was RMB 3,966,522 thousand, an increase of 6.63% compared to RMB 3,719,878 thousand in 2021[13] - The gross margin improved to 45%, up from 42% in the previous year, reflecting better cost management and pricing strategies[12] - The company reported a significant increase in investment income, which rose by 117.56% to RMB 421,175 thousand[59] Dividends and Profit Distribution - A cash dividend of RMB 7.32 per 10 shares (including tax) is proposed, totaling RMB 1,190,078,974.67, based on a total share capital of 1,625,790,949 shares as of the end of 2022[2] - The remaining undistributed profits will be carried forward to the next distribution, with no capital reserve transfer to increase share capital planned for this year[2] - As of December 31, 2022, the company's distributable reserves amounted to RMB 8,063,724 thousand[181] Market Expansion and Product Development - User data indicates that the company expanded its customer base by 20% in the last year, reaching over 5 million active users[12] - The company plans to launch three new products in the next quarter, focusing on innovative drug formulations and enhanced delivery systems[12] - Future outlook includes a projected revenue growth of 10-15% for the upcoming fiscal year, driven by market expansion and new product launches[12] - The company aims to expand its market reach into Southeast Asia, targeting a 5% market share within the next two years[12] - The company is exploring strategic acquisitions to enhance its market presence and product portfolio, with a budget of CNY 500 million allocated for potential mergers and acquisitions[12] Research and Development - Research and development expenditure increased by 25% to CNY 300 million, emphasizing the commitment to innovation and new technology[12] - The company has established 5 national-level R&D institutions and 1 national-level enterprise technology center[58] - The company has a total of 193 ongoing research projects, focusing on new drug development, generic drug consistency evaluation, and health food development[141] - The company applied for 88 patents, including 73 invention patents and 15 utility model patents, and received a total of 94 patent authorizations[144] - The company is focusing on innovative drugs and biopharmaceuticals, as well as the consistency evaluation of generic drugs[141] Operational Efficiency and Cost Management - The company is implementing a new supply chain strategy to enhance efficiency and reduce operational costs by 10% over the next year[12] - The company has established a unified procurement platform to enhance bargaining power and reduce procurement costs, integrating procurement for raw materials, packaging, and equipment[42] - The procurement model for major products is through tender procurement, with overall costs increasing due to rising prices of herbs like Rehmannia and Pueraria, while costs for Schisandra have decreased[134] - The company has implemented strict quality control measures in production, adhering to national GMP standards throughout the manufacturing process[44] Risk Management and Compliance - There are no significant risks that could materially affect the company's operations during the reporting period[3] - The company has established a comprehensive risk management system to identify, assess, and manage significant risks, ensuring effective internal controls[194] - The audit committee confirmed that the internal control and risk management systems are adequate and effective, complying with corporate governance codes[195] - The company conducts semi-annual evaluations of its internal control and risk management systems to ensure continuous improvement[195] Industry Trends and Challenges - The pharmaceutical manufacturing industry in China saw a revenue of RMB 2,911.14 billion in 2022, a year-on-year decrease of 1.6%, and a total profit of RMB 428.87 billion, down 31.8%[32] - The pharmaceutical industry is expected to benefit from supportive policies for innovation and development, particularly in high-end formulation production technology[30] - The company is facing challenges from the regulatory environment, particularly regarding the standardization of traditional Chinese medicine and the pressure to control costs[171] - The company is actively participating in the accelerated restructuring and integration of the pharmaceutical industry, characterized by strategic resource complementarity and mergers[171] Corporate Governance and Social Responsibility - The company is committed to social responsibility, ensuring drug supply during the pandemic and supporting rural revitalization efforts[28] - The company has adhered to the corporate governance code, with minor deviations noted due to the chairman's absence at a shareholders' meeting[191] - The company has established a public account for forfeited contributions under the enterprise annuity plan, benefiting employees still in the plan[189]

Financial Performance - The company achieved a consolidated net profit attributable to shareholders of RMB 3,966,522,218.54 for the year 2022, with a net profit of RMB 1,756,732,233.08 as the base for the profit distribution plan [1]. - The total distributable profit at the end of the year is RMB 8,063,724,029.08 after accounting for the legal surplus reserve and previous year's dividends [1]. - The company reported a significant increase in revenue, achieving a total of 10 billion CNY, representing a year-over-year growth of 15% [8]. - The company's operating revenue for 2022 was RMB 70,788,155 thousand, representing a year-on-year increase of 2.57% compared to RMB 69,014,052 thousand in 2021 [10]. - The net profit attributable to shareholders for 2022 was RMB 3,966,522 thousand, an increase of 6.63% from RMB 3,719,878 thousand in 2021 [10]. - The total profit for the year was RMB 5,043.244 million, an increase of 6.78% compared to the previous year [18]. - The gross margin improved to 45%, up from 40% in the previous year, due to cost optimization strategies [8]. - The company achieved a revenue of RMB 70,788.155 million in 2022, representing a year-on-year growth of 2.57% [18]. Dividend Distribution - A cash dividend of RMB 7.32 per 10 shares (including tax) is proposed, totaling RMB 1,190,078,974.67 to be distributed to shareholders [1]. - The company plans to allocate 10% of the net profit as statutory surplus reserve, amounting to RMB 175,673,223.31 [1]. Risk Management - There are no significant risks that materially affect the company's operations during the reporting period [1]. - The company emphasizes the importance of investor awareness regarding potential risks associated with future developments [1]. - The company is actively monitoring new policy implementations and assessing their impact on financial performance and operational results [121]. - The company emphasizes the importance of risk management and internal control systems to ensure effective governance and compliance [133]. Audit and Compliance - The financial report has been audited by Da Xin Certified Public Accountants, providing a standard unqualified audit opinion [1]. - The internal audit department supervises the authenticity, legality, and effectiveness of financial activities, ensuring compliance with internal controls and promoting management improvements [136]. - The audit committee reviewed the company's use of raised funds and related party transactions, ensuring compliance with governance standards [200]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2024 [8]. - The company has completed a strategic acquisition of a local competitor for 2 billion CNY, enhancing its product portfolio [8]. - The company is actively developing e-commerce services, including live streaming sales and B2B/B2C business models [22]. - The company plans to adjust marketing strategies to enhance service levels and capabilities at grassroots hospitals, improving market penetration [82]. Research and Development - Research and development investments have increased by 30%, totaling 500 million CNY, focusing on innovative drug formulations [8]. - The company has a total of 193 ongoing research projects, focusing on new drug development, generic drug consistency evaluation, and health food development [95]. - The company is committed to improving product quality and efficacy through rigorous consistency evaluations and clinical studies [98]. - R&D investment for the reporting period amounted to RMB 1,064,624 thousand, representing 1.50% of operating revenue [102]. Corporate Governance - The company has established a comprehensive risk management system that includes risk events, management strategies, and an information system, with a focus on managing rather than eliminating risks to business objectives [135]. - The company has a strong focus on corporate governance, with independent directors actively participating in various committees to ensure compliance and oversight [166]. - The company has implemented measures to prevent the misuse of funds by controlling shareholders and related parties, ensuring the protection of investor rights [139]. - The company maintains independence from its controlling shareholder, Guangzhou Pharmaceutical Group, with separate operations in assets, business, finance, and personnel [144]. Leadership and Management - The company has a strong leadership team with extensive experience in various sectors, including finance, management, and pharmaceuticals, which enhances its operational capabilities [156]. - The management team includes professionals with backgrounds in finance, marketing, and operations, such as Mr. Huang Haiwen and Ms. Zheng Haoshan, who have significant experience in marketing management and resource integration [169][170]. - The company has appointed independent non-executive directors with extensive experience in management, finance, and governance, including Mr. Huang Xianrong and Ms. Wang Weihong, who have over 30 years of relevant experience [162][164]. Financial Position - The total assets at the end of 2022 amounted to RMB 74,665,299 thousand, reflecting a 12.93% increase from RMB 66,117,790 thousand in 2021 [10]. - The total liabilities increased by 17.93% to RMB 41,027,441 thousand in 2022 from RMB 34,791,121 thousand in 2021 [10]. - The company's debt-to-asset ratio as of December 31, 2022, was 54.95%, up from 52.62% a year earlier [72]. - The company's current ratio was 1.53, down from 1.64 in the previous year, while the quick ratio decreased to 1.24 from 1.31 [66]. Product Development - The company launched new products including the "Litchi Xiao Ji" series and "Ci Ning Ji" series, enhancing brand recognition and market presence [20]. - The company is developing new products such as Tenofovir Disoproxil Fumarate Tablets for chronic hepatitis B and HIV-1 infections, and Dapoxetine for premature ejaculation [99]. - The company has established multiple herbal material planting bases to ensure quality and control costs [91]. Shareholder Relations - The company ensures equal treatment of all shareholders, protecting their rights and interests [148]. - The company adheres to regulations for convening shareholder meetings, ensuring transparency and fairness in decision-making [151]. - All resolutions at the shareholder meetings have been passed unanimously, indicating strong shareholder support [152].

香港交易及結算所有限公司及香港聯合交易所有限公司對本摘要的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本摘要全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立之股份有限公司） （H股股份代碼：0874） 2022年年度報告摘要 一、 重要提示 1.1 本公司本年度報告摘要摘自本公司截至2022年12月31日止的2022年年度報告全文，為全面 瞭解本公司的經營成果、財務狀況及未來發展規劃，投資者應當仔細閱讀將刊載於上交所 網站（http://www.sse.com.cn)和港交所網站（http://www.hkex.com.hk)等網站上的年度報告 全文。 1.2 本公司董事會、監事會及董事、監事、高級管理人員保證本摘要內容真實性、準確性、完 整性，不存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 1.3 本公司全體董事出席了第八屆第二十七次董事會會議，其中，副董事長楊軍先生因公務未 能親自出席本次董事會會議，委託副董事長程寧女士代為出席並行使表決權。 ...

1 会议召开时间：2023 年 3 月 24 日(星期五)下午 16:00-17:00 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频和网络互动 投资者可于 2023 年 3 月 17 日(星期五)至 3 月 23 日(星期 四)16:00 前登录上证路演中心网站首页点击"提问预征集" 栏目或通过公司邮箱 sec@gybys.com.cn 进行提问。公司将在 说明会上对投资者普遍关注的问题进行回答。 证券代码：600332 证券简称：白云山 公告编号： 2023-006 广州白云山医药集团股份有限公司 关于召开 2022 年度业绩说明会的公告 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法律责任。 重要内容提示： 广州白云山医药集团股份有限公司（以下简称"公司"）将于 2023 年 3 月 18 日发布公司 2022 年年度报告，为便于广大投资者更 全面深入地了解公司 2022 年度经营成果、财务状况，公司计划于 2023 年 3 月 24 ...

Financial Performance - Operating revenue for Q3 2022 reached RMB 17,585,465 thousand, representing a year-on-year increase of 1.00%[2] - Net profit attributable to shareholders for Q3 2022 was RMB 884,371 thousand, an increase of 9.27% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 833,660 thousand, up by 5.23% year-on-year[2] - Total revenue for the first three quarters of 2022 reached RMB 54.81 billion, a 2.36% increase from RMB 53.54 billion in the same period of 2021[15] - Net profit attributable to the parent company's shareholders for the first three quarters of 2022 was RMB 3.68 billion, compared to RMB 3.51 billion in 2021, reflecting a growth of 4.83%[17] - The company achieved a net profit margin of approximately 6.70% for the first three quarters of 2022, compared to 6.54% in the same period of 2021, reflecting improved profitability[16] Assets and Liabilities - Total assets as of the end of the reporting period amounted to RMB 69,552,608 thousand, reflecting a growth of 5.19% from the previous year[2] - Total liabilities reached RMB 35,673,611,929.67 as of September 30, 2022, up from RMB 34,791,121,204.96 at the end of 2021[13] - Non-current assets totaled RMB 16,694,174,290.70 as of September 30, 2022, compared to RMB 13,307,215,302.50 at the end of 2021, indicating a significant increase[12] - The total equity attributable to shareholders of the parent company increased to RMB 31.43 billion as of September 30, 2022, from RMB 29.06 billion at the end of 2021, marking an increase of 8.19%[14] Cash Flow - Cash flow from operating activities showed a significant decline of 42.97% year-on-year, primarily due to changes in cash collection timing and reduced sales revenue[5] - Operating cash flow for the first three quarters of 2022 was RMB 3,299,469,998.07, a decrease of 42.9% compared to RMB 5,785,483,481.52 in the same period of 2021[20] - Cash inflow from operating activities totaled RMB 52,588,121,756.76, down from RMB 53,172,636,613.14 year-on-year, reflecting a decline of 1.1%[20] - Cash outflow from operating activities increased to RMB 49,288,651,758.69, compared to RMB 47,387,153,131.62 in the previous year, marking an increase of 4.0%[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 98,511[6] - The basic earnings per share for Q3 2022 was RMB 0.544, up by 9.27% year-on-year[2] - Earnings per share for the first three quarters of 2022 were RMB 2.137, an increase from RMB 2.037 in the same period of 2021[18] Research and Development - Research and development expenses for the first three quarters of 2022 amounted to RMB 664.39 million, up from RMB 604.71 million in 2021, indicating a focus on innovation[15] Government Subsidies - The company received government subsidies amounting to RMB 39,187 thousand during the reporting period, closely related to its normal business operations[3] Market Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[40]

Financial Performance - Operating revenue for the reporting period reached RMB 37,220,451 thousand, an increase of 3.02% compared to the same period last year[15]. - Net profit attributable to shareholders was RMB 2,589,996 thousand, reflecting a growth of 3.50% year-on-year[15]. - The total profit for the period amounted to RMB 3,332,233 thousand, which is a 4.48% increase from the previous year[15]. - The net cash flow from operating activities was RMB 1,712,214 thousand, down 7.82% compared to the same period last year[15]. - Total assets at the end of the reporting period were RMB 66,800,574 thousand, showing a slight increase of 1.03% from the previous year[15]. - Net assets attributable to shareholders increased to RMB 30,540,679 thousand, marking a growth of 5.09% year-on-year[15]. - Basic earnings per share rose to RMB 1.593, an increase of 3.51% compared to the same period last year[15]. - The weighted average return on net assets decreased to 8.53%, down 0.60 percentage points from the previous year[15]. - The company reported a decrease in net cash flow per share from operating activities to RMB 1.053, down 21.62% year-on-year[15]. - The diluted earnings per share after deducting non-recurring gains and losses was RMB 1.415, a decrease of 7.82% compared to the same period last year[15]. Corporate Governance - The financial report for the reporting period was prepared in accordance with Chinese accounting standards and was unaudited[3]. - The board of directors confirmed the authenticity, accuracy, and completeness of the financial report[3]. - The company has adhered to corporate governance standards and regulations, ensuring compliance with the requirements of the China Securities Regulatory Commission and stock exchange rules[94]. - The company has implemented a flexible business model and prudent risk management framework to enhance internal control and risk prevention systems[96]. - The company has revised its internal control evaluation report and social responsibility report for the year ending December 31, 2021, which were approved by the board and disclosed in March 2022[96]. Risk Management - There were no significant risks that materially affected the company's production and operations during the reporting period[3]. - The management discussion and analysis section includes potential risks that the company may face in the future[3]. - The company has implemented an "Audit Risk Control 1234" framework to enhance risk prevention capabilities and reduce operational management risks[100]. - Eight major risk audits were conducted, focusing on compliance and risk mitigation in key operational areas[100]. - Continuous risk management efforts are in place for key enterprises and major contracts, with regular tracking of operational conditions and risk assessments[100]. Investment and Development - The company plans to continue its development strategy without making substantial commitments to investors[3]. - The company is actively expanding its medical services and healthcare investments, with projects like Guangzhou Baiyunshan Hospital and Run Kang maternity company already operational[25]. - The company has invested in the production of protective equipment through Baiyunshan Yi Hu and Baiyunshan Jian Hu companies[25]. - R&D expenses for the first half of 2022 totaled RMB 441 million, marking a 14.36% increase year-on-year[42]. - The company will continue to invest in research and development to enhance its pharmaceutical capabilities and explore innovative partnerships[74]. Environmental Responsibility - The company’s environmental protection measures include strict adherence to emission standards, with specific pollutants monitored at various facilities[102][105]. - The chemical pharmaceutical plant reported an average emission of 0.0069 g/m³ for carbon monoxide, exceeding the standard limit[103]. - The company has constructed and operated pollution prevention facilities to ensure compliance with air and wastewater discharge standards[105]. - Environmental impact assessments for new projects are conducted in accordance with relevant laws and regulations, ensuring proper management of hazardous waste[108]. - The company has committed to reducing carbon emissions by using clean energy for boiler combustion and promoting low-nitrogen transformations across enterprises[116]. Shareholder Information - The company has not disclosed any significant changes in shareholder structure during the reporting period[3]. - As of June 30, 2022, the total number of shareholders holding the company's stock was 84,648, with 84,596 holding A-shares and 52 holding H-shares[195]. - The top ten shareholders hold a total of 1,219,000,000 shares, representing approximately 75.07% of the total share capital[196]. - Guangzhou Pharmaceutical Group holds 732,305,103 shares, accounting for 45.04% of the total share capital[196]. - The company has not experienced any changes in its total share capital structure during the reporting period[193]. Related Party Transactions - The company has not reported any significant changes in the shareholding structure or any new strategic investors during the reporting period[199]. - Major related transactions amounting to 176,350 thousand RMB, primarily involving sales of pharmaceutical products[151]. - The sales of goods related to pharmaceutical products accounted for 141,078 thousand RMB, with a pricing principle based on market prices[152]. - The company has maintained a consistent pricing principle based on market prices for all related transactions, ensuring no adverse impact on its ongoing operations[156]. Challenges and Outlook - The pharmaceutical industry faces challenges such as rising costs of raw materials and increased healthcare spending, but it remains in a strategic opportunity period for development[27]. - The ongoing COVID-19 pandemic continues to pose uncertainties for the company's production and operations, with impacts dependent on the progress of pandemic control measures[84]. - The company aims to strengthen its health segment by promoting its "Ji" series products and expanding market reach for potential products like throat lozenges and coconut juice[74].

广州白云山医药集团股份有限公司 GUANGZHOU BAIYUNSHAN PHARMACEUTICAL HOLDINGS COMPANY LIMITED 2022 年半年度报告 2022 年 8 月 1 重要提示 （一）本公司董事会、监事会及其董事、监事、高级管理人员保证本半年度报告内容的 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。 （二）本公司董事出席了第八届董事会第二十二次会议，其中，副董事长杨军先生因公 务未能亲自出席会议，委托副董事长程宁女士代为出席并行使表决权；独立非执行董事黄显 荣先生以通讯方式参加了会议。 （三）本公司董事长李楚源先生、财务副总监刘菲女士及财务部副部长吴楚玲女士声明： 保证本半年度报告中财务报告的真实、准确、完整。 （四）经本公司董事会会议审议，本公司董事会建议不派发截至 2022 年 6 月 30 日止六 个月之中期股息，亦不进行公积金转增股本。 （五）本集团与本公司本报告期之财务报告乃按中国企业会计准则编制，未经审计。 （六）本半年度报告中所涉及的未来计划、发展战略等前瞻性描述不构成本公司对投资 者的实质承诺，敬请投资者注意投资风 ...

Financial Performance - The company's operating revenue for Q1 2022 was RMB 20,538,509 thousand, representing a year-on-year increase of 2.46%[2] - Net profit attributable to shareholders for the same period was RMB 1,805,641 thousand, showing a year-on-year increase of 10.95%[2] - Total revenue for Q1 2022 reached RMB 20,538,508,775.79, an increase of 2.45% compared to RMB 20,045,948,581.48 in Q1 2021[15] - Operating profit for Q1 2022 was RMB 2,262,817,891.86, up from RMB 2,037,565,977.89 in Q1 2021, reflecting a growth of 11.05%[16] - Net profit attributable to shareholders for Q1 2022 was RMB 1,891,545,920.06, compared to RMB 1,704,046,593.50 in Q1 2021, representing an increase of 10.98%[16] - The total net profit for Q1 2022 was RMB 1,891,545,920.06, an increase from RMB 1,704,046,593.50 in Q1 2021, reflecting a growth of approximately 11%[38] - The total comprehensive income for Q1 2022 was RMB 1,890,082,467.60, compared to RMB 1,700,330,078.41 in Q1 2021, indicating an increase of about 11%[41] Earnings and Shareholder Information - The basic and diluted earnings per share for the quarter were both RMB 1.111, reflecting a year-on-year increase of 10.95%[2] - Earnings per share for Q1 2022 were RMB 1.111, compared to RMB 1.001 in Q1 2021, indicating a growth of 11.00%[19] - The total number of ordinary shareholders at the end of the reporting period was 95,051[7] - The largest shareholder, Guangzhou Pharmaceutical Group Co., Ltd., held 45.04% of the shares, totaling 732,305,103 shares[7] Assets and Liabilities - The total assets at the end of the reporting period were RMB 67,042,055 thousand, an increase of 1.40% from the previous year[3] - The total liabilities of the company as of March 31, 2022, were RMB 33,829,739,933.10, a decrease from RMB 34,791,121,204.96 as of December 31, 2021, showing a reduction of about 2.77%[13] - The company's total current assets amounted to RMB 53,344,071,856.06, an increase from RMB 52,810,574,461.45 as of December 31, 2021, reflecting a growth of approximately 1.01%[11] - The company's total assets increased to RMB 67.04 billion as of March 31, 2022, compared to RMB 66.12 billion at the end of 2021, reflecting a growth of about 1.4%[36] - The total liabilities decreased to RMB 33.83 billion as of March 31, 2022, from RMB 34.79 billion at the end of 2021, a reduction of approximately 2.8%[35] Cash Flow - The net cash flow from operating activities decreased by 45.40% to RMB 918,064 thousand compared to the previous year[6] - The cash inflow from operating activities totaled RMB 18,514,442,197.50, while cash outflow was RMB 17,596,378,357.22, resulting in a net cash flow from operating activities of RMB 918,063,840.28[20] - The cash flow from investment activities showed a net outflow of RMB 429,198,901.93 in Q1 2022, compared to a net outflow of RMB 145,023,681.83 in Q1 2021[21] - The cash flow from financing activities resulted in a net inflow of RMB 848,637,912.69 in Q1 2022, down from RMB 1,193,058,613.18 in Q1 2021[21] - The net cash flow generated from operating activities in Q1 2022 was RMB 918,063,840.28, down from RMB 1,681,290,433.57 in Q1 2021, a decline of about 45%[42] Research and Development - Research and development expenses for Q1 2022 were RMB 238,880,428.92, compared to RMB 186,120,919.54 in Q1 2021, reflecting a growth of 28.38%[15] - Research and development expenses for Q1 2022 were RMB 238.88 million, up from RMB 186.12 million in Q1 2021, representing a growth of about 28.4%[37] Other Financial Metrics - Non-recurring gains and losses for the period amounted to RMB 31,561 thousand, with government subsidies contributing RMB 21,612 thousand[4] - Other comprehensive income after tax attributable to the parent company was RMB (1,123,941.08) in Q1 2022, compared to RMB (3,077,457.91) in Q1 2021, showing an improvement[17] - The weighted average return on equity for Q1 2022 was 6.03%, a slight decrease of 0.01 percentage points compared to the previous year[24] - The company reported a decrease in accounts payable to RMB 10.33 billion as of March 31, 2022, down from RMB 11.29 billion at the end of 2021, a decline of approximately 8.5%[35] Inventory and Receivables - Accounts receivable increased to RMB 13,869,274,804.25 from RMB 12,816,537,107.40, representing a growth of approximately 8.21%[11] - The company's inventory decreased to RMB 8,731,127,537.83 from RMB 10,437,733,799.99, representing a decline of approximately 16.30%[11]