中信证券股份有限公司 关于上海现代制药股份有限公司与国药集团药业股份有限公司 签署委托管理协议暨关联交易的核查意见 中信证券股份有限公司（以下简称 "保荐人"）作为上海现代制药股份有限公司 （以下简称"国药现代"或"公司"）2019年公开发行可转换公司债券、2022年非公开发 行A股股票的保荐人，根据《证券发行上市保荐业务管理办法》《上海证券交易所股票上市 规则》《上海证券交易所上市公司自律监管指引第1号——规范运作》《上海证券交易所上市公 司自律监管指引第5号——交易与关联交易》等有关法律法规规定，就公司与国药集团药业 股份有限公司（以下简称"国药股份"）签署委托管理协议暨关联交易所涉及事项进行了 核查，核查情况如下： 一、关联交易概述 （一）本次交易基本情况及交易目的 鉴于国药股份控股子公司国瑞药业与国药现代存在同业竞争，中国医药集团有限公司 （以下简称"国药集团"）于2018年8月出具承诺："自承诺出具之日起五年内，将推动 国药控股、国药股份通过包括但不限于择机将国瑞药业注入国药现代、将国瑞药业出售给 无关联关系的独立第三方、调整国瑞药业产品结构等方式予以处置。" 为履行上述承诺，避免上市公司之间的同业 ...

证券代码：600420 证券简称：国药现代 公告编号：2023-083 上海现代制药股份有限公司 第八届董事会第九次会议决议公告 表决结果：同意 9 票，反对 0 票，弃权 0 票。 2、审议通过了《2023 年半年度募集资金存放与实际使用情况的专项报告》。 独立董事就该报告发表独立意见表示认可。 上海现代制药股份有限公司（以下简称公司）第八届董事会第九次会议，于 2023 年 8 月 28 日在上海市浦东新区建陆路 378 号以现场会议的方式召开。本次 会议的通知和会议资料已于 2023 年 8 月 18 日以电子邮件方式发出。本次会议应 参会董事 9 名，实际参会董事 9 名。会议由董事长董增贺先生主持，公司部分监 事和高级管理人员列席了会议。本次会议的召集和召开程序符合《公司法》和《公 司章程》的有关规定，会议合法有效。 二、董事会会议审议情况 本次会议审议并通过了如下事项： 1、审议通过了《2023 年半年度报告及摘要》。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 公司 2023 年半年度报告全文及摘要详见 www.sse.com.cn。 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 ...

证券代码：600420 证券简称：国药现代 公告编号：2023-034 债券代码：110057 债券简称：现代转债 重要内容提示： 会议召开时间：2023 年 05 月 12 日（星期五）下午 13:00-14:30 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/） 投资者可于 2023 年 05 月 06 日（星期六）至 05 月 11 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 xd_zhengquanban@sinopharm.com 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。 上海现代制药股份有限公司（以下简称公司）已于 2023 年 03 月 30 日发布 了 2022 年度报告，并于 2023 年 04 月 26 日发布了 2023 年第一季度报告。为便 于广大投资者更加全面深入地了解公司 2022 年度及 2023 年第一季度经营成果、 财务状况，公司计划于 2023 年 05 月 12 日下午 13:00-14:30 参加沪市主 ...

Financial Performance - The net profit attributable to shareholders increased by 130.87% compared to the same period last year, driven by a stabilization in the pharmaceutical terminal market[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 157.99%, with a decrease in expense ratios by 5.45 percentage points year-on-year[7]. - The net profit attributable to shareholders for Q1 2023 was ¥179,223,645.37, representing a significant increase of 130.87% from the previous year[37]. - The net profit for the first quarter of 2023 was RMB 274,261,401.19, compared to RMB 136,080,784.29 in the same period of 2022, showing an increase of about 101.9%[48]. - The company's net profit for Q1 2023 was $18.71 million, a decrease from $157.78 million in Q1 2022, reflecting a decline of 88.2%[63]. - The company reported a comprehensive income of $18.68 million for Q1 2023, down from $158.18 million in Q1 2022, a decline of 88.2%[63]. Revenue and Sales - Operating revenue for Q1 2023 reached ¥3,417,169,160.61, up from ¥3,244,221,809.47 in Q1 2022, reflecting a growth in sales[21]. - The company's operating revenue for Q1 2023 was ¥254,001,223.34, a decrease of 43.2% compared to ¥446,817,438.79 in Q1 2022[31]. - Cash received from sales of goods and services in Q1 2023 totaled ¥2,458,359,184.90, a decrease of 10.4% compared to ¥2,744,038,557.81 in Q1 2022[50]. Cash Flow and Liquidity - Cash flow from operating activities decreased by 35.33% year-on-year, primarily due to a reduction in cash inflow from sales orders settled with advance payments in Q4 2022[7]. - The net cash flow from operating activities for Q1 2023 was ¥269,560,307.91, a decrease of 35.33% compared to the same period last year[37]. - The company experienced a net cash outflow from financing activities of ¥797,465,602.21 in Q1 2023, compared to a smaller outflow of ¥217,174,350.82 in Q1 2022[28]. - Cash inflow from operating activities for Q1 2023 was $397.19 million, up from $328.82 million in Q1 2022, representing a 20.8% increase[57]. - Net cash flow from operating activities for Q1 2023 was -$8.57 million, a significant decline from $165.22 million in Q1 2022[57]. - Cash and cash equivalents at the end of Q1 2023 were $2.38 billion, up from $1.10 billion at the end of Q1 2022, an increase of 116.7%[65]. Assets and Liabilities - The company reported a total asset value of ¥18,957,972,176.28 as of March 31, 2023, down from ¥19,630,346,096.40 at the end of 2022[18]. - The total assets at the end of Q1 2023 were ¥18,957,972,176.28, a decrease of 3.43% from the end of the previous year[37]. - The total liabilities decreased, with short-term borrowings dropping significantly from ¥321,138,719.45 to ¥25,026,736.06[18]. - The total liabilities decreased to RMB 6,531,019,691.95 from RMB 7,477,624,438.48, indicating a reduction of approximately 12.7%[46]. - Total liabilities decreased to $3.93 billion as of March 31, 2023, from $5.22 billion at the end of 2022, a reduction of 24.7%[61]. Equity and Retained Earnings - The company's total equity increased to RMB 12,426,952,484.33 as of March 31, 2023, up from RMB 12,152,721,657.92 at the end of 2022, representing a growth of approximately 2.3%[46]. - The company's retained earnings rose to RMB 5,065,125,677.15 as of March 31, 2023, compared to RMB 4,885,902,031.78 at the end of 2022, marking an increase of approximately 3.7%[46]. Research and Development - Research and development expenses for Q1 2023 were ¥110,631,302.54, compared to ¥116,995,102.84 in Q1 2022, indicating a focus on cost control[21]. - Research and development expenses for Q1 2023 were ¥17,406,876.57, slightly down from ¥18,962,920.22 in Q1 2022[31]. Dividends and Shareholder Returns - The company paid dividends to minority shareholders amounting to ¥5,107,617.57 in Q1 2023, up from ¥2,828,123.93 in Q1 2022[28]. - The basic earnings per share for Q1 2023 was ¥0.1529, an increase of 102.25% year-over-year[37]. - Basic earnings per share (EPS) for Q1 2023 was ¥0.1529, up from ¥0.0756 in Q1 2022, indicating an increase of 102.4%[49].

Internal Control and Compliance - The company engaged Tianjian Accounting Firm to audit the effectiveness of its internal control, resulting in a standard unqualified opinion in the 2022 internal control audit report disclosed on March 30, 2023[3]. - The company has committed to ensuring that its actions do not harm the interests of shareholders and to comply with regulatory requirements[20]. - The company will strictly comply with the regulations of the China Securities Regulatory Commission and the Shanghai Stock Exchange after the completion of the transaction, ensuring the independence of the listed company in personnel, assets, finance, and business[18]. - The company guarantees not to occupy the funds and assets of the listed company and its subsidiaries in any way after the transaction is completed[18]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[22]. - The company is committed to ensuring the accuracy and completeness of its financial reporting, as confirmed by a standard unqualified audit report[83]. Environmental Protection and Sustainability - The company’s environmental protection facilities, including wastewater treatment and air emission control systems, are operating normally, with ongoing enhancements to ensure compliance with environmental standards[6]. - The company has implemented annual emergency drill plans for environmental incidents, improving coordination and response capabilities to unexpected environmental events[7]. - The company has committed to reducing carbon emissions and has taken measures to achieve this goal, although specific results were not detailed in the report[10]. - The company has established a monitoring system for environmental facilities, including daily operation protocols and maintenance schedules, to ensure compliance and operational efficiency[6]. - The company has a dedicated team responsible for the operation and monitoring of environmental facilities, with some units outsourcing management to third-party professionals[6]. - The company has developed a comprehensive environmental emergency response plan, which has been filed for regulatory review[7]. Financial Performance - The company's operating revenue for the reporting period was ¥12,959,320,533.56, a decrease of 7.07% compared to ¥13,944,948,270.25 in the previous year[52]. - Operating costs increased to ¥8,024,562,526.12, reflecting a rise of 2.25% from ¥7,848,140,984.30 in the prior year[52]. - The net profit attributable to shareholders of the listed company for 2022 was ¥627,794,828.71, representing a year-on-year increase of 10.47% compared to ¥568,280,771.91 in 2021[96]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥552,660,279.79, an increase of 11.17% from ¥497,119,038.98 in the previous year[96]. - The net cash flow from operating activities surged by 70.01% to ¥2,855,633,105.16, compared to ¥1,679,662,393.87 in the previous year[52]. - The company reported a balance of distributable profits for shareholders of ¥2,601,334,684.75 at the end of the reporting period[102]. Research and Development - The company’s R&D expenses were ¥520,922,635.17, down 11.59% from ¥589,184,570.70 in the previous year[52]. - The company launched 51 new patents during the reporting period, including 17 invention patents, enhancing its innovation capabilities[135]. - The company is focusing on the development of controlled-release, membrane, and transdermal patch technologies as part of its innovation strategy[135]. - The company has established a multi-level R&D system focusing on five key therapeutic areas, enhancing innovation capabilities[62]. - The company is actively promoting centralized procurement management to reduce costs and improve efficiency[62]. Market and Sales Strategy - The company achieved operating revenue of 12.959 billion yuan, a year-on-year decrease of 7.07%, with over 1 billion yuan products increasing to 31, accounting for 72% of sales[122]. - The company is focusing on market expansion through the development of new chemical drugs and active pharmaceutical ingredients[74]. - The company has established a nationwide sales network through a combination of distribution, agency, and academic promotion strategies[130]. - The company plans to continue expanding its market presence and enhancing its product offerings in the health and wellness sector[130]. - The company is exploring CMO and CDMO business opportunities to enhance manufacturing efficiency through external resource extension and internal collaboration[62]. Corporate Governance and Shareholder Relations - The company has made commitments to minimize related party transactions and ensure fair pricing in any necessary transactions, with a focus on protecting the rights of all shareholders[17]. - The company commits to not using related party transactions to illegally transfer funds or profits from China National Pharmaceutical Modern[19]. - The company will bear all losses caused to China National Pharmaceutical Modern and other shareholders if it violates the commitments made[19]. - The company will not intervene in the management activities of the company or infringe on its interests regarding the issuance of convertible bonds[19]. - The company has committed to ensuring that its future equity incentive plans are linked to the execution of return compensation measures[20]. Asset Management and Financial Health - Cash and cash equivalents at the end of the period amounted to ¥6,148,196,232.13, representing 31.32% of total assets, an increase of 43.51% compared to the previous period[198]. - The company reported a significant increase in prepayments, which rose to ¥275,949,663.45, representing 1.41% of total assets, a 76.74% increase compared to the last period[198]. - The total amount of short-term borrowings decreased to ¥321,138,719.45, which is 1.64% of total assets, reflecting a substantial decline of 77.17% from the previous period[198]. - The company holds overseas assets valued at ¥1,173,602.39, which constitutes 0.01% of total assets[199]. - The company has restricted cash of ¥249,000,000.00 due to time deposits, and additional restricted amounts for guarantee deposits and frozen funds[200].

Financial Performance - The company's operating revenue for Q3 2022 was ¥3,332,135,975.28, representing an increase of 8.26% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2022 was ¥201,521,805.81, a decrease of 1.85% year-on-year, while the year-to-date net profit decreased by 32.48% to ¥426,372,120.55[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was ¥161,261,302.61, down 3.41% year-on-year, with a year-to-date decrease of 38.39% to ¥356,018,230.66[5]. - The basic earnings per share for Q3 2022 was ¥0.1963, reflecting a decrease of 32.48% compared to the same period last year[5]. - The diluted earnings per share for Q3 2022 was ¥0.1732, down 30.90% year-on-year[7]. - The weighted average return on equity for Q3 2022 was 2.26%, a decrease of 0.14 percentage points compared to the previous year[7]. - Total operating revenue for the first three quarters of 2022 was CNY 9,719,160,020.44, a decrease of 9.3% compared to CNY 10,710,170,799.63 in the same period of 2021[26]. - Net profit for the first three quarters of 2022 was CNY 604,173,833.75, a decline of 24.4% from CNY 799,702,644.46 in the same period of 2021[29]. - Basic earnings per share for the first three quarters of 2022 were CNY 0.4152, down from CNY 0.6149 in the same period of 2021[31]. Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥18,500,232,428.08, a decrease of 2.99% compared to the end of the previous year[7]. - As of September 30, 2022, total assets amounted to ¥18,500,232,428.08, a decrease from ¥19,069,961,392.45 as of December 31, 2021, reflecting a decline of approximately 2.99%[24]. - Total current assets were reported at ¥10,590,812,386.23, down from ¥10,886,446,261.52, indicating a decrease of about 2.71%[18]. - Total liabilities decreased to ¥7,792,999,911.35 from ¥8,700,102,902.92, reflecting a reduction of about 10.43%[22]. - The total liabilities decreased to ¥4,457,324,838.87 as of September 30, 2022, from ¥4,685,533,578.22 at the end of 2021, representing a reduction of 4.9%[44]. - The total equity increased to ¥7,898,062,555.98 as of September 30, 2022, compared to ¥7,383,207,177.95 at the end of 2021, reflecting a growth of 7%[44]. Cash Flow - The net cash flow from operating activities for the year-to-date period increased by 43.19% to ¥1,965,774,395.17[11]. - Cash flow from operating activities was CNY 8,912,017,188.80 for the first three quarters of 2022, a decrease from CNY 9,885,981,372.64 in the same period of 2021[33]. - Net cash flow from operating activities for the first three quarters of 2022 was CNY 1,965,774,395.17, an increase of 43.3% compared to CNY 1,372,864,799.01 in the same period of 2021[35]. - The cash flow from operating activities for the first three quarters of 2022 was ¥846,998,456.75, a substantial increase from ¥157,063,234.34 in the same period of 2021[54]. Expenses - Total operating costs for the first three quarters of 2022 were CNY 9,013,362,094.64, down 8.3% from CNY 9,829,243,735.14 in the previous year[26]. - Research and development expenses for the first three quarters of 2022 amounted to CNY 360,086,744.11, a slight decrease of 6.8% compared to CNY 386,254,592.42 in 2021[26]. - Sales expenses decreased to CNY 2,189,914,277.14 in the first three quarters of 2022, down 20.6% from CNY 2,759,870,569.86 in the same period of 2021[26]. - The company reported a significant improvement in credit impairment losses, with a loss of CNY 4,784,358.27 in 2022 compared to a loss of CNY 29,837,513.78 in 2021[29]. - The company's sales expenses surged to ¥496,227,887.10 in the first three quarters of 2022, compared to ¥113,917,294.89 in the same period of 2021, reflecting a significant increase of 336.5%[46]. Cash Management - The company's cash and cash equivalents increased to ¥4,382,038,580.45 from ¥4,284,240,287.88, showing a growth of approximately 2.29%[17]. - Cash and cash equivalents at the end of the reporting period were CNY 4,144,908,326.08, up from CNY 3,778,658,665.42 at the end of 2021, marking an increase of 9.7%[36]. - The company reported a cash decrease of approximately -$2.22 million in 2022, compared to a larger decrease of -$114.47 million in 2021, indicating an improvement in cash management[55]. - The company’s cash flow from investment activities showed a positive turnaround, moving from a negative cash flow in 2021 to a positive cash flow in 2022[55]. Market Conditions - The company attributed the decline in net profit to factors such as the resurgence of COVID-19, market competition, and rising prices of raw materials and fuels[9].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥6,387,024,045.16, a decrease of 16.31% compared to ¥7,632,136,688.61 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was ¥224,850,314.74, down 47.23% from ¥426,135,085.60 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥194,756,928.05, a decline of 52.61% compared to ¥410,936,464.50 in the same period last year[21]. - Basic earnings per share decreased by 47.24% to CNY 0.2189 compared to the same period last year[25]. - The net profit attributable to shareholders of the listed company declined due to increased production costs and market environment impacts[26]. - The gross margin for anti-infection pharmaceutical intermediates and raw materials decreased by nearly 8 percentage points due to rising production costs from raw material price increases[35]. - The revenue from the formulation segment decreased by 12.30% year-on-year, impacted by the repeated pandemic affecting market demand and expanding industry policy influences[35]. - The company aims to achieve high-quality development during the 14th Five-Year Plan period, focusing on innovation and internationalization, with increased R&D investment[35]. - The company reported a total of 2,303 million RMB in related party transactions with Guoyao Holdings, maintaining the same balance at the end of the period[105]. Cash Flow and Liquidity - Net cash flow from operating activities increased by 185.63% year-on-year, reaching CNY 1,267,482,369.82[24]. - The net cash flow from operating activities for the first half of 2022 was CNY 1,267,482,369.82, a significant increase from CNY 443,743,223.90 in the same period of 2021, representing a growth of approximately 186.5%[173]. - The cash flow from financing activities included CNY 2,170,800,000.00 in cash received from borrowings, which decreased from CNY 2,810,240,501.36 in the first half of 2021, representing a decline of about 22.7%[176]. - The company reported a cash and cash equivalents balance of CNY 3,978,272,130.44 at the end of the first half of 2022, an increase from CNY 3,566,720,850.35 at the end of the same period in 2021[176]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 19,100,487,477.93, a slight increase of 0.16% from the previous year[24]. - Total liabilities of the company as of June 30, 2022, amount to CNY 8.588 billion, with current liabilities at CNY 5.560 billion and non-current liabilities at CNY 3.027 billion[145]. - The company's long-term credit rating is AAA, with a stable outlook, and the credit rating for "Modern Convertible Bond" is also AAA[145]. - The total amount of loans at the end of the period is 2.50 billion RMB[109]. - The total current assets amount to CNY 11.143 billion, an increase from CNY 10.886 billion at the beginning of the period[150]. Research and Development - The company is focusing on five key therapeutic areas: anti-infective drugs, anti-tumor drugs, immune regulators, anesthetic drugs, and cardiovascular drugs[32]. - The company is implementing a strategy of "innovation-driven development" and enhancing its R&D capabilities through a multi-level system[32]. - The company continues to focus on research and development, maintaining a stable R&D expenditure of approximately ¥244 million, which is nearly unchanged from the previous year[46]. - Research and development expenses amounted to CNY 239,540,075.16, slightly down from CNY 244,386,231.09 in the previous year[163]. Environmental Management - The company reported a total wastewater discharge of 504.31 tons with a COD concentration of 314.71 mg/L, well below the approved annual discharge limit of 2,112.00 tons[70]. - The company has implemented a biogas boiler to recover heat and reduce steam consumption, ensuring compliance with emission standards[73]. - The company has established an environmental monitoring management system with real-time monitoring of wastewater and air emissions, ensuring compliance with environmental discharge limits[76]. - The company has committed to improving quality control in response to new regulatory requirements, including ongoing training and updates to internal quality control systems[60]. Corporate Governance - The company has committed to maintaining independence in operations and avoiding conflicts of interest with its controlling entities[87]. - The company guarantees that it will not utilize its controlling shareholder status to seek improper benefits, maintaining independence in personnel, assets, finance, and operations[90]. - The company will ensure compliance with relevant regulations and maintain the independence of the listed company from its controlling shareholders[90]. - The company has committed to not infringe on the interests of Guoyao Modern and its controlled enterprises in competitive businesses, ensuring priority rights[96]. Market Conditions and Risks - The company faces significant market competition risks, with an average drug price drop of 48% following the seventh batch of national drug procurement[57]. - The rising costs of raw materials and production factors are putting pressure on the company's operational costs, prompting a push for lean production and integrated supply chain processes[60]. - Environmental regulations are tightening, leading to increased costs for compliance and pollution control, which the company aims to address by enhancing its environmental management systems[60]. Related Party Transactions - The company has no significant related party transactions during the reporting period[111]. - The company has no guarantees provided to shareholders or related parties, and no guarantees for entities with a debt ratio exceeding 70%[116]. - The company has committed to minimizing related transactions with Guoyao Modern and its subsidiaries[92].

Financial Performance - The company's operating revenue for Q1 2022 was ¥3,244,221,809.47, representing a decrease of 17.42% compared to the same period last year[4]. - Net profit attributable to shareholders was ¥77,630,695.05, down 64.83% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥66,126,346.76, a decline of 69.56% compared to the previous year[4]. - Basic earnings per share decreased by 64.82% to ¥0.0756, while diluted earnings per share fell by 63.14% to ¥0.0689[4]. - The net profit for Q1 2022 was ¥136,080,784.29, a decline of 53.3% from ¥290,590,309.58 in Q1 2021[27]. - The total comprehensive income for Q1 2022 was ¥136,478,028.78, down from ¥291,109,374.47 in Q1 2021[27]. - The net profit for Q1 2022 was ¥157,778,946.29, compared to ¥49,724,954.57 in Q1 2021, indicating an increase of about 217.5%[45]. - The total comprehensive income for Q1 2022 was ¥158,176,190.78, up from ¥50,244,019.46 in Q1 2021, reflecting a growth of approximately 214.5%[47]. Cash Flow - The net cash flow from operating activities increased by 296.93%, amounting to ¥416,829,177.52[4]. - The cash flow from operating activities for Q1 2022 was ¥416,829,177.52, significantly higher than ¥105,013,866.79 in Q1 2021[32]. - The net cash outflow from operating activities was ¥2,427,768,746.96 in Q1 2022, compared to ¥3,200,023,742.69 in Q1 2021, indicating improved cash management[32]. - The company's net cash flow from investing activities for Q1 2022 was -131,057,104.54 RMB, an improvement from -198,256,149.20 RMB in Q1 2021, indicating a reduction in cash outflow by approximately 34%[34]. - The company reported a net cash flow from operating activities of ¥165,216,144.86 in Q1 2022, a turnaround from a negative cash flow of -¥27,101,101.63 in Q1 2021[49]. - Cash inflow from investment activities in Q1 2022 was ¥623,405,400.08, compared to ¥43,589,502.31 in Q1 2021, showing a substantial increase[49]. Assets and Liabilities - Total assets at the end of the reporting period were ¥19,489,848,335.51, an increase of 2.20% from the end of the previous year[4]. - Current assets increased to ¥11,412,903,417.95 as of March 31, 2022, up from ¥10,886,446,261.52 at the end of 2021, representing a growth of 4.8%[17]. - Total liabilities increased to ¥8,986,618,580.62 as of March 31, 2022, compared to ¥8,700,102,902.92 at the end of 2021, marking a rise of 3.3%[20]. - The total liabilities of the company as of March 31, 2022, were 4,512,917,942.49 RMB, a decrease from 4,685,533,578.22 RMB at the end of 2021, reflecting a reduction of approximately 3.7%[42]. - The company's total assets as of March 31, 2022, were 12,054,370,710.72 RMB, a slight decrease from 12,068,740,756.17 RMB at the end of 2021, reflecting a reduction of about 0.1%[41]. Operational Challenges - The decline in net profit was attributed to logistics issues, supply shortages, and rising production costs due to raw material price increases[8]. - The company faced production disruptions and reduced sales of key products due to the impact of the pandemic on its facilities in Jilin, Shanghai, and Shenzhen[8]. Expenses - Research and development expenses for Q1 2022 were ¥116,995,102.84, a slight decrease from ¥126,219,062.88 in Q1 2021[24]. - The sales expenses for Q1 2022 were ¥824,286,318.36, down 22.4% from ¥1,062,622,750.84 in Q1 2021[24]. - The company's management expenses decreased to ¥10,369,937.95 in Q1 2022 from ¥21,041,627.09 in Q1 2021, a reduction of approximately 50.7%[45]. - R&D expenses were reduced to ¥18,962,920.22 in Q1 2022 from ¥29,577,910.73 in Q1 2021, representing a decrease of about 35.8%[45]. - The company reported a financial expense of ¥24,025,326.04 in Q1 2022, compared to ¥20,158,463.67 in Q1 2021, an increase of approximately 19.1%[45]. Financing Activities - The company raised ¥1,200,000,000.00 through borrowings in Q1 2022, significantly higher than the ¥200,000,000.00 raised in Q1 2021[50]. - The total cash outflow from financing activities in Q1 2022 was ¥1,489,092,924.94, compared to ¥219,972,453.30 in Q1 2021, indicating a substantial increase in financing activities[50].

Financial Performance - The company's revenue for Q3 2021 was approximately CNY 3.08 billion, a decrease of 2.34% compared to the same period last year[5]. - Net profit attributable to shareholders was CNY 205.32 million, down 32.52% year-on-year[5]. - The net profit excluding non-recurring gains and losses was CNY 166.96 million, a decrease of 40.28% compared to the previous year[5]. - Basic earnings per share for the period was CNY 0.20, reflecting a decline of 32.50% year-on-year[5]. - The diluted earnings per share was CNY 0.174, down 32.35% from the same period last year[5]. - Total operating revenue for the first three quarters of 2021 reached RMB 10,710,170,799.63, an increase of 14.4% compared to RMB 9,363,726,744.19 in the same period of 2020[25]. - Net profit for the first three quarters of 2021 was RMB 799,702,644.46, slightly up from RMB 792,052,011.94 in 2020, reflecting a growth of 1%[28]. - Total profit for the first three quarters of 2021 was RMB 896,554,704.45, down from RMB 944,860,524.54 in 2020, indicating a decrease of 5.1%[28]. Assets and Liabilities - Total assets at the end of the period were approximately CNY 19.54 billion, an increase of 7.05% from the end of the previous year[7]. - Current assets totaled CNY 11.26 billion, up from CNY 10.16 billion, indicating a growth of about 10.87% year-over-year[18]. - Total liabilities amounted to CNY 9.10 billion, up from CNY 8.43 billion, which is an increase of approximately 7.91%[21]. - Total assets as of December 31, 2020, were ¥18,250,454,785.72, increasing to ¥18,349,337,318.43 by January 1, 2021, reflecting a growth of ¥98,882,532.71[39]. - Total liabilities increased from 8,431,088,899.10 to 8,529,971,431.81, a rise of 1.4%[46]. - Current liabilities totaled 6,194,362,158.11, slightly increasing to 6,230,103,370.47, reflecting a 0.6% increase[46]. - Non-current liabilities rose from 2,236,726,740.99 to 2,299,868,061.34, marking an increase of 2.8%[46]. Cash Flow - The company reported a net cash flow from operating activities of CNY 1.37 billion for the year-to-date, an increase of 12.43% compared to the previous year[5]. - Cash flow from operating activities amounted to RMB 9,885,981,372.64, an increase from RMB 8,009,851,969.33 in the previous year[33]. - Operating cash inflow for the first three quarters of 2021 reached ¥10,528,665,529.24, an increase of 15.1% compared to ¥9,145,572,156.50 in the same period of 2020[36]. - The net cash flow from operating activities was ¥1,372,864,799.01, up from ¥1,221,116,088.41 in the first three quarters of 2020, representing a growth of 12.4%[36]. - Net cash outflow from investing activities was ¥403,071,051.46, slightly improved from ¥409,779,193.90 in the first three quarters of 2020[37]. Shareholder Equity - Shareholders' equity attributable to the parent company was CNY 8.66 billion, up 6.46% year-on-year[7]. - The company's equity attributable to shareholders reached CNY 8.66 billion, compared to CNY 8.13 billion, reflecting a growth of about 6.56%[23]. - The company’s total equity attributable to shareholders was 8,131,208,694.81, remaining unchanged[46]. Expenses and Costs - Total operating costs increased to RMB 9,829,243,735.14, up 16.2% from RMB 8,458,535,558.27 in the previous year[25]. - Research and development expenses rose to RMB 386,254,592.42, a 24.9% increase from RMB 309,099,415.11 in the same period last year[25]. - The company reported an investment loss of RMB 15,897,420.02, compared to a loss of RMB 10,345,837.90 in the same period of 2020[28]. - Other comprehensive income after tax was RMB 670,394.85, down from RMB 884,148.78 in the previous year[30]. - The company experienced a credit impairment loss of RMB 29,837,513.78, an improvement from RMB 47,832,613.54 in the same period last year[28]. Government Support - The company received government subsidies amounting to CNY 49.41 million during the quarter, which was higher than the previous year[9].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[21]. - Net profit for the period was RMB 200 million, up 10% compared to the same period last year[21]. - The company's operating revenue for the first half of the year reached ¥7,632,136,688.61, representing a year-on-year increase of 22.86% compared to ¥6,211,855,587.54 in the same period last year[24]. - Net profit attributable to shareholders was ¥426,135,085.60, up 30.48% from ¥326,589,943.50 in the previous year[24]. - The net profit after deducting non-recurring gains and losses increased by 52.68%, amounting to ¥410,936,464.50 compared to ¥269,144,868.41 last year[24]. - Basic earnings per share rose to ¥0.4149, a 30.47% increase from ¥0.3180 in the same period last year[24]. - The company achieved operating revenue of 763,213.67 million yuan, a year-on-year increase of 22.86%[34]. - Net profit attributable to shareholders reached 42,613.51 million yuan, up 30.48% year-on-year[34]. - The company reported a net profit of 410,936,464.50 RMB, an increase of 52.68% compared to the same period last year[149]. - The total profit for the first half of 2021 was ¥639,293,088.43, an increase of 25.0% from ¥511,508,814.31 in the first half of 2020[182]. Research and Development - The company is investing RMB 50 million in research and development for new technologies in the pharmaceutical sector[21]. - Research and development expenses increased by 25.95% to CNY 244,386,231.09, reflecting a commitment to innovation and new product development[43]. - The company is implementing a strategy of "innovation-driven development" and has established a multi-level R&D system to enhance its technological innovation capabilities[31]. - The company is focusing on five major product areas: anti-infection drugs, anti-tumor drugs, anesthetic and psychotropic drugs, cardiovascular drugs, and metabolic and endocrine drugs[31]. - The company reported a significant increase in research and development expenses to ¥42,745,834.03, compared to ¥18,216,886.84 in the same period last year, reflecting a focus on innovation[186]. Market Expansion and Product Development - The company plans to expand its market presence by launching two new products in the second half of 2021[21]. - The company aims to enhance its brand influence and has established a high level of public recognition with several well-known brands[35]. - The company plans to enhance its marketing strategy by establishing a CRM system to integrate database resources and improve brand management[41]. - The company is actively pursuing international certification for its formulation production base to expand its overseas market presence[41]. - The company plans to focus on market expansion and new product development in the upcoming quarters[178]. Compliance and Governance - The board of directors confirmed that all members attended the meeting, ensuring transparency in decision-making[5]. - The company has maintained compliance with regulatory requirements, with no non-operational fund occupation by controlling shareholders[8]. - The financial report has been declared accurate and complete by the company's management team[4]. - The company has committed to strictly adhere to regulations set by the China Securities Regulatory Commission and the Shanghai Stock Exchange, ensuring independence in personnel, assets, finance, and operations post-transaction completion[99]. - The company guarantees to participate in shareholder meetings and exercise rights and obligations equally, without seeking improper benefits from its shareholder status[91]. Environmental Responsibility - The company is classified as a key pollutant discharge unit, with specific emissions data provided for various pollutants[74]. - The company has successfully implemented environmental monitoring systems across all key pollution control units, ensuring compliance with local regulations and real-time monitoring of wastewater and air emissions[82]. - The company has invested in high-efficiency energy-saving equipment, including multiple high-power energy-saving pumps and biogas boiler energy recovery projects, to enhance energy efficiency and reduce carbon emissions[87]. - The company has established emergency response plans for environmental incidents, conducting regular drills to ensure preparedness[81]. - The company has completed the renovation of the wastewater treatment station, which is now in trial operation, enhancing its wastewater management capabilities[77]. Financial Position and Liabilities - The company reported total liabilities of RMB 9.62 billion, with current liabilities of RMB 7.78 billion and non-current liabilities of RMB 1.84 billion as of June 30, 2021[162]. - The company maintained a AAA credit rating for both its corporate entity and the convertible bonds, with a stable outlook[162]. - The company’s total assets were reported at ¥10,670,149,468.50, a decline from ¥11,088,466,858.46 at the end of 2020[177]. - The company’s cash and cash equivalents showed a significant decrease, reflecting a strategic shift in asset allocation[177]. - The company has a loan balance of 525 million RMB with a related party, with an interest rate range of 3.50%-4.99%[118]. Shareholder Information - The total number of ordinary shareholders reached 38,167 by the end of the reporting period[136]. - The top ten shareholders hold a total of 23.32% (239,512,622 shares) by Shanghai Pharmaceutical Industry[138]. - The second largest shareholder, China Pharmaceutical Investment, holds 16.94% (174,005,559 shares)[138]. - The company’s total share capital increased from 1,026,959,376 shares to 1,026,961,901 shares due to the conversion of "Modern Convertible Bonds"[134]. - The company has no guarantees provided to shareholders, actual controllers, or their related parties[128].