Financial Performance - The company's operating revenue for the first half of 2022 was approximately CNY 896.69 million, representing an increase of 18.12% compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company was approximately CNY 65.66 million, up 20.72% year-on-year[19]. - The net profit after deducting non-recurring gains and losses was approximately CNY 61.39 million, reflecting a growth of 20.28% compared to the previous year[19]. - The basic earnings per share for the first half of 2022 was CNY 0.23, representing a 21.05% increase compared to the same period last year[20]. - The company achieved a total revenue of 14,007.8 billion yuan in the first half of 2022, a year-on-year decrease of 0.6%[33]. - The profit for the first half of 2022 was 2,209.5 billion yuan, which represents a year-on-year decline of 27.6%[33]. - The operating profit for the same period was 92.4 million yuan, reflecting a year-on-year growth of 21.76%[41]. - The total profit for the first half of 2022 was CNY 91,886,158.69, an increase from CNY 77,775,326.81 in the previous year, representing a growth of approximately 18.0%[112]. - The total comprehensive income for the first half of 2022 was CNY 79,254,644.33, compared to CNY 65,286,445.06 in the previous year, reflecting an increase of approximately 21.4%[113]. Assets and Liabilities - The company's total assets at the end of the reporting period were approximately CNY 2.53 billion, an increase of 7.57% from the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were approximately CNY 1.19 billion, which is a 2.65% increase from the previous year-end[19]. - The company's total liabilities increased to CNY 1,204,466,327.51, compared to CNY 1,073,869,781.09 at the start of the year, representing a rise of 12.2%[109]. - The company's total equity reached CNY 1,328,667,059.43, an increase from CNY 1,280,926,699.96, indicating a growth of 3.7%[108]. - The total liabilities to equity ratio increased to 0.91 from 0.71, indicating a higher leverage position[109]. Cash Flow - The company reported a net cash flow from operating activities of approximately -CNY 25.16 million, a decrease of 215.01% compared to the same period last year[19]. - The cash inflow from sales of goods and services for the first half of 2022 was approximately ¥936.88 million, an increase of 17.0% compared to ¥800.10 million in the first half of 2021[118]. - The total cash outflow from operating activities in the first half of 2022 was ¥1,010.88 million, up 22.9% from ¥821.89 million in the first half of 2021[119]. - The cash inflow from financing activities in the first half of 2022 was ¥429.41 million, an increase of 36.7% compared to ¥314.00 million in the first half of 2021[119]. Research and Development - The company has developed and launched 2 national class I new drugs, 6 class II new drugs, and 2 class III new drugs, with a total of 26 patents held[35]. - Research and development expenses rose by 20.69% to ¥28,726,700.34, compared to ¥23,801,633.09 in the previous year[48]. - The company has successfully completed the preparation of two batches of API and formulations for the innovative drug LH-1801 and has made progress on multiple R&D projects[41]. Quality Assurance and Compliance - The company has a comprehensive quality assurance system and a nationwide marketing network, with sales offices set up in key provinces and cities[23]. - The company’s production processes strictly adhere to GMP standards, ensuring quality management throughout production[29]. - The company has established a robust quality assurance system, with all products passing provincial GMP compliance checks[39]. - The company has implemented a quality management system to mitigate risks associated with product quality throughout the production and sales processes[53]. Environmental Responsibility - The company has implemented a safety and environmental responsibility system to ensure stable operational safety amidst ongoing pandemic challenges[42]. - The company has received environmental impact assessments for multiple projects, ensuring adherence to regulatory requirements[70]. - The company reported a total nitrogen discharge of 10.9 mg/L, which is below the limit of 70 mg/L, indicating compliance with environmental standards[68]. - The company has a wastewater treatment capacity of 300 m³/d, operational since 2016, ensuring proper treatment of industrial wastewater[69]. - The company has established a multi-layered prevention mechanism for safety and environmental protection, emphasizing the importance of green manufacturing and clean production[73]. Corporate Governance - The company guarantees that its major shareholder, Jiangsu Lianhuan Pharmaceutical Group, will not engage in any business that competes with Lianhuan Pharmaceutical during the restructuring period[84]. - Lianhuan Pharmaceutical has established an independent financial department and accounting system to ensure financial independence from its controlling shareholder[85]. - There are no significant lawsuits or arbitration matters reported during the reporting period[86]. - The company has not experienced any non-operating fund occupation by major shareholders or related parties during the reporting period[86]. Shareholder Information - The total number of ordinary shareholders reached 36,165 by the end of the reporting period[97]. - The largest shareholder, Jiangsu Lianhuan Pharmaceutical Group Co., Ltd., holds 108,718,516 shares, accounting for 37.86% of total shares[98]. - The company repurchased and canceled 844,696 shares of restricted stock due to unmet conditions for the first release period[94]. Market Strategy - The company is focusing on early research and strategy formulation to adapt to new trends in the international and domestic pharmaceutical markets[55]. - Strengthening communication with agents and large pharmaceutical companies to enhance product sales and service[55]. - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[130].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 404,359,214.35, representing a year-on-year increase of 21.79%[3] - The net profit attributable to shareholders for the same period was CNY 30,409,747.23, up 19.58% compared to the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 26,187,092.38, reflecting a 16.15% increase year-on-year[3] - The basic earnings per share for Q1 2022 was CNY 0.11, which is a 22.22% increase from the same period last year[3] - Operating profit for Q1 2022 was ¥44,448,638.51, up from ¥37,550,744.86 in Q1 2021, reflecting a growth of 18.8%[15] - Net profit for Q1 2022 was ¥37,482,656.87, compared to ¥31,943,156.96 in Q1 2021, representing an increase of 17.4%[15] - Basic and diluted earnings per share for Q1 2022 were both ¥0.11, up from ¥0.09 in Q1 2021[16] Assets and Liabilities - Total assets at the end of Q1 2022 were CNY 2,479,026,956.79, a 5.28% increase from the end of the previous year[3] - Total assets increased to ¥2,479,026,956.79 in Q1 2022 from ¥2,354,796,481.05 in Q1 2021, marking an increase of 5.3%[12] - Total liabilities rose to ¥1,155,889,188.49 in Q1 2022, up from ¥1,073,869,781.09 in Q1 2021, indicating an increase of 7.6%[12] - The equity attributable to shareholders at the end of Q1 2022 was CNY 1,188,841,159.41, up 2.65% from the previous year-end[3] Cash Flow - The net cash flow from operating activities was negative CNY 26,749,729.17, a significant decrease of 544.77% year-on-year due to increased purchases and pandemic-related cash collection issues[4] - Cash inflow from operating activities for Q1 2022 was $461,169,153.92, an increase of 19.1% compared to $387,158,666.49 in Q1 2021[18] - Net cash outflow from operating activities for Q1 2022 was -$26,749,729.17, a decline from a positive cash flow of $6,014,330.97 in Q1 2021[19] - Cash inflow from financing activities in Q1 2022 was $267,410,000.00, compared to $157,500,000.00 in Q1 2021, marking a 70% increase[19] - Net cash flow from financing activities for Q1 2022 was $61,378,082.86, up from $50,226,849.52 in Q1 2021, indicating a 22.7% increase[19] - Cash and cash equivalents at the end of Q1 2022 totaled $254,113,912.88, compared to $154,109,083.41 at the end of Q1 2021, representing a 64.8% increase[19] - Total cash outflow from investment activities in Q1 2022 was $103,280,313.10, a decrease from $131,402,567.01 in Q1 2021, showing a 21.4% reduction[19] Shareholder Information - The company had a total of 31,254 common shareholders at the end of the reporting period[6] - The largest shareholder, Jiangsu Lianhuan Pharmaceutical Group Co., Ltd., held 37.75% of the shares[6] Research and Development - The company reported R&D expenses of ¥6,903,678.59 for Q1 2022, slightly up from ¥6,405,651.38 in Q1 2021[15] Future Plans - The company plans to expand its market presence and invest in new product development to drive future growth[17] Borrowing and Financing - The increase in short-term borrowings to ¥524,573,354.31 in Q1 2022 from ¥454,073,354.31 in Q1 2021 indicates a strategy to leverage financing for operational needs[12] Accounting Standards - The company did not apply the new accounting standards for the first quarter of 2022[20]

Financial Performance - The company's operating revenue for 2021 was CNY 1,645,816,399.14, representing an increase of 18.74% compared to CNY 1,386,038,580.46 in 2020[20] - The net profit attributable to shareholders for 2021 was CNY 118,839,366.34, up 15.38% from CNY 103,001,877.67 in 2020[20] - The net cash flow from operating activities increased by 50.48% to CNY 138,344,527.41 in 2021, compared to CNY 91,936,547.95 in 2020[20] - The total assets of the company at the end of 2021 were CNY 2,354,796,481.05, a 14.92% increase from CNY 2,049,066,254.48 at the end of 2020[20] - The basic earnings per share for 2021 were CNY 0.41, reflecting a 13.89% increase from CNY 0.36 in 2020[21] - The weighted average return on equity for 2021 was 10.71%, an increase of 0.67 percentage points from 10.04% in 2020[21] - The operating profit for 2021 was 156 million RMB, an increase of 9.10% compared to the previous year[53] - The net profit attributable to the parent company was 119 million RMB, reflecting a year-on-year growth of 15.38%[53] Dividend and Shareholder Information - The company plans to distribute a cash dividend of CNY 1.25 per 10 shares, totaling CNY 35,893,209.25, subject to shareholder approval[5] - The annual shareholders' meeting held on April 26, 2021, had a total of 111,632,688 shares represented, accounting for 38.76% of the total shares[118] - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 924.87 million yuan[119] - The company has a clear cash dividend distribution standard and decision-making process, with independent directors fulfilling their responsibilities[146] Research and Development - The company launched 18 new products and completed clinical trials for innovative drug LH-1801 in 2021[30] - The company applied for 2 international invention patents and 4 domestic invention patents in 2021, enhancing its intellectual property portfolio[30] - The company has a strong R&D capability with key research platforms in Yangzhou and Nanjing, focusing on high-quality projects[48] - The company invested ¥85,006,700 in R&D, accounting for 5.17% of total revenue, which is a 45.11% increase compared to the previous year[84] - The company has significant ongoing R&D projects, including an innovative anti-diabetic drug with an investment of 21,087,065.17 RMB, showing a year-on-year increase of 839.49%[92] Market and Sales Performance - Sales volume of the product "Teva" increased by 57.12% year-on-year, reaching 12.7 million units sold[34] - The subsidiary Yangzhou Lianhuan Pharmaceutical achieved sales revenue of 533 million RMB, a year-on-year increase of 47.62%[34] - The company reported a 49.78% increase in revenue from medical devices, contributing to overall revenue growth[59] - The company’s sales network for its formulation products covers the entire country, with sales offices established in key provinces and cities[40] Risk Management and Compliance - The company reported no significant risks that could materially affect its operations during the reporting period[8] - The company does not have any non-operating fund occupation by controlling shareholders or related parties[7] - The company has established a comprehensive quality management system to mitigate risks associated with product quality during production and sales[110] - The company has not experienced any leakage of insider information during the reporting period, ensuring compliance with confidentiality obligations[115] Environmental Responsibility - The company has reported zero administrative penalties related to environmental issues during the reporting period[161] - The company has implemented multiple pollution control facilities, including a boiler exhaust emission point that has been operational since 2013, ensuring compliance with environmental standards[155] - The company has a robust emergency response plan for environmental incidents, which was published and implemented in April 2021[158] - The company has achieved compliance in hazardous waste disposal by partnering with certified waste disposal companies[166] Corporate Governance - The board of directors has established specialized committees to oversee strategic, nomination, audit, and compensation matters, ensuring compliance with regulations[113] - The company has a performance evaluation and incentive mechanism for senior management, aligning their interests with shareholder value[114] - The company emphasizes the importance of effective communication with shareholders and has implemented measures to ensure transparency and fairness in governance[112] - The company has committed to maintaining independent business operations, ensuring that it has the necessary assets, personnel, and capabilities to operate autonomously[117] Strategic Initiatives - The company aims to enhance its R&D capabilities and accelerate new product development, focusing on both short-term and long-term product lines[103] - The company is investing in multiple projects, including a solid preparation construction project with a total investment commitment of 21,111,000 RMB, of which 134.18 million RMB has been invested this year[97] - The company is expanding its market presence in Southeast Asia, targeting a 30% market share within the next two years[120] - The company is considering strategic acquisitions to enhance its product portfolio, with potential targets identified in the biotechnology sector[124]

Financial Performance - The company's revenue for Q3 2021 was CNY 410,834,846.19, representing a year-on-year increase of 17.80%[5] - The net profit attributable to shareholders for the same period was CNY 31,575,269.77, showing a decrease of 8.13% compared to the previous year[5] - The net profit after deducting non-recurring gains and losses was CNY 30,884,326.77, with a slight increase of 0.11% year-on-year[5] - Total revenue for the first three quarters of 2021 reached ¥1,169,942,600.71, an increase of 21.3% compared to ¥964,639,367.67 in the same period of 2020[18] - Net profit for the first three quarters of 2021 was ¥100,536,929.89, representing a growth of 7.1% from ¥93,211,779.26 in the same period of 2020[20] - Earnings per share for the first three quarters of 2021 was ¥0.30, compared to ¥0.28 in the same period of 2020[20] Assets and Liabilities - The total assets as of September 30, 2021, were CNY 2,206,398,857.06, reflecting a growth of 7.68% from the end of the previous year[6] - The total assets as of the end of Q3 2021 amounted to ¥2,206,398,857.06, an increase from ¥2,049,066,254.48 at the end of Q3 2020[16] - Total liabilities as of the end of Q3 2021 were ¥955,619,190.43, compared to ¥867,053,818.55 in the same period of 2020[16] - The total liabilities as of Q3 2021 were ¥823,011,318.55, showing a marginal decrease from ¥823,407,300.30 at the beginning of the year[27] - Total liabilities amounted to approximately $867.05 million, with a slight increase of $2.38 million compared to the previous period[28] - The company's total assets were approximately $2.05 billion, with a total increase of $2.37 million from the previous period[28] Shareholder Equity - The equity attributable to shareholders increased by 5.26% to CNY 1,127,890,131.15 compared to the end of the previous year[6] - The company's equity attributable to shareholders reached ¥1,127,890,131.15, up from ¥1,071,555,563.57 in the previous year[16] - Total equity reached approximately $1.18 billion, reflecting a minor decrease of $8,700.52 compared to the previous period[28] - The company's retained earnings stood at approximately $461.43 million, showing a negligible decrease of $4,437.27[28] - The company's total equity attributable to shareholders was approximately $1.07 billion, with a minor decrease of $4,437.27[28] Cash Flow - The operating cash flow for the year-to-date period decreased by 37.35% to CNY 66,054,135.50, attributed to increased prepayments and employee compensation[9] - Operating cash inflow for the first three quarters of 2021 reached ¥1,394,547,714.80, a 22% increase from ¥1,144,458,703.81 in the same period of 2020[24] - Net cash flow from operating activities for Q3 2021 was ¥66,054,135.50, down 37% from ¥105,436,490.43 in Q3 2020[24] - Cash outflow from investment activities in Q3 2021 was ¥192,590,008.16, compared to ¥166,607,750.28 in Q3 2020, indicating increased investment spending[24] - Net cash flow from financing activities for Q3 2021 was ¥123,265,225.16, significantly up from ¥38,247,912.19 in Q3 2020, reflecting improved financing conditions[24] - The total cash and cash equivalents at the end of Q3 2021 stood at ¥225,988,816.78, down from ¥277,838,765.28 at the end of Q3 2020[25] Research and Development - Research and development expenses for the first three quarters of 2021 were ¥39,119,611.11, an increase from ¥31,461,108.16 in the same period of 2020[19] Government Subsidies - The company received government subsidies amounting to CNY 834,904.44 during the quarter, contributing to its financial performance[8] Other Financial Metrics - The basic earnings per share for Q3 2021 was CNY 0.11, down 8.33% from the same period last year[5] - The weighted average return on equity for Q3 2021 was 2.84%, a decrease of 0.50 percentage points year-on-year[6] - The company reported a total of ¥42,750.00 in fair value gains in Q3 2021, compared to a loss of ¥10,260.00 in Q3 2020[19] - Cash inflow from other operating activities in Q3 2021 was ¥59,956,067.21, an increase of 61% compared to ¥37,180,612.77 in Q3 2020[24] - Cash flow from the disposal of fixed assets in Q3 2021 was ¥8,000,000.00, a decrease from ¥34,151,444.84 in Q3 2020, indicating reduced asset disposals[24] Accounting Standards - The company adopted new leasing standards effective January 1, 2021, impacting financial statement adjustments[28]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥759.11 million, representing a 23.25% increase compared to ¥615.90 million in the same period last year[17]. - The net profit attributable to shareholders was ¥54.39 million, up 20.59% from ¥45.10 million in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥51.04 million, reflecting a 14.65% increase from ¥44.52 million year-on-year[17]. - Basic earnings per share increased to ¥0.19, up 18.75% from ¥0.16 in the same period last year[18]. - The company achieved a revenue of 759.11 million yuan in the first half of 2021, representing a growth of 23.25% compared to the same period last year[39]. - The net profit attributable to shareholders reached 54.39 million yuan, an increase of 20.59% year-on-year[39]. - The company reported a total of 132.894 million RMB in actual related party transactions for the first half of 2021, compared to an estimated 601.7 million RMB[89]. - The company reported a total comprehensive income for the current period amounted to 65,286,445.06, with a significant contribution from the parent company[122]. Cash Flow and Investments - The net cash flow from operating activities decreased by 58.14% to ¥21.87 million, down from ¥52.25 million in the same period last year[17]. - The company’s cash flow from financing activities increased significantly by 118.01% to ¥73,626,970.80, reflecting an increase in short-term borrowings[44]. - Cash received from sales of goods and services was CNY 800,096,022.92, an increase of 14.4% from CNY 699,301,658.61 in the same period last year[117]. - Cash outflow from investing activities totaled CNY 170,824,054.98, up 34.1% from CNY 127,335,849.68 in the previous year[118]. - The ending cash and cash equivalents balance was CNY 153,883,081.78, down 34.5% from CNY 235,414,611.64 at the end of the first half of 2020[118]. Assets and Liabilities - The total assets of the company increased by 5.77% to ¥2.17 billion, compared to ¥2.05 billion at the end of the previous year[17]. - Total liabilities reached RMB 952,072,702.10, up from RMB 867,053,818.55, reflecting an increase of around 9.8%[106]. - The company's equity increased to RMB 1,215,321,292.45 from RMB 1,182,012,435.93, representing a growth of approximately 2.8%[106]. - The company's total assets as of June 30, 2021, amounted to ¥1,747,541,769.09, compared to ¥1,600,476,582.17 at the end of 2020, reflecting a growth of 9.2%[109]. - The company's total liabilities reached ¥773,403,363.32, up from ¥640,765,744.42 at the end of 2020, indicating a rise of 20.6%[109]. Research and Development - The company has successfully developed and launched 2 national class I new drugs, 6 class II new drugs, and 2 class III new drugs, highlighting its strong R&D capabilities[34]. - Research and development expenses rose by 26.09% to ¥23,801,633.09, indicating increased investment in R&D projects[44]. - Research and development expenses for the first half of 2021 were ¥23,801,633.09, an increase of 25.5% compared to ¥18,876,220.36 in the first half of 2020[111]. Market and Sales Strategy - The company operates in the pharmaceutical manufacturing industry, focusing on the research, production, and sales of chemical drugs, including various series such as urological drugs and cardiovascular drugs[21]. - The sales strategy includes specialized academic promotion and agency distribution, with a focus on expanding clinical coverage for key products[27]. - The company is focusing on expanding its e-commerce market presence by analyzing market rules and selecting suitable products for promotion[32]. - The company aims to improve service quality and reduce marketing expense settlement cycles to support sales growth[31]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities, indicating regulatory scrutiny[62]. - The company reported a total of 1.786164 tons of chemical oxygen demand and 0.002922 tons of total phosphorus emissions, both within the regulatory limits[65]. - The company has implemented emergency response plans for environmental incidents, with no incidents reported in the current period[69]. - The company achieved a 100% compliance rate for environmental hazard rectification by June 2021, with no environmental accidents reported in the first half of 2021[72]. Corporate Governance - The company committed to not engaging in competitive business activities that could harm its interests or those of its minority shareholders following a major asset restructuring[85]. - The company has guaranteed the independence of its management and financial systems, ensuring no interference from its controlling shareholder[86]. - The management team is experienced and proactive, ensuring timely adjustments to strategies based on industry trends and market demands[35]. Accounting Policies - The company has established specific accounting policies and estimates based on its operational characteristics[143]. - The company adheres to accounting standards, ensuring that financial statements accurately reflect its financial position and performance[144]. - The company uses RMB as its functional currency for accounting purposes[147].

2021 年第一季度报告 公司代码：600513 公司简称：联环药业 江苏联环药业股份有限公司 2021 年第一季度报告 1 / 22 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 6 | 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 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 2,084,802,511.15 2,049,066,254.48 1.74 归属于上市公司股东的净资产 1,097,351,311.90 1,071,555,563.57 2.41 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流量净额 6,014,330.97 -4,973,937.14 不适用 年初至报告期末 上年初至上年报告期末 比上年同期增减（%） 营业收入 332,010,017.23 292,206,038.69 13.62 归属于上市公司股东的净利润 25,429,415.53 19,136,150.82 ...

Financial Performance - The company's operating revenue for 2020 was CNY 1,386,038,580.46, representing a 7.42% increase compared to CNY 1,290,332,662.74 in 2019[21] - The net profit attributable to shareholders for 2020 was CNY 103,001,877.67, which is a 29.19% increase from CNY 79,730,500.46 in 2019[21] - The net cash flow from operating activities for 2020 was CNY 91,936,547.95, a significant recovery from a negative cash flow of CNY -9,869,829.99 in 2019[21] - The total assets at the end of 2020 were CNY 2,049,066,254.48, an increase of 8.44% from CNY 1,889,598,228.60 at the end of 2019[21] - The net assets attributable to shareholders at the end of 2020 were CNY 1,071,555,563.57, reflecting an 8.32% increase from CNY 989,249,074.38 in 2019[21] - The basic earnings per share for 2020 were CNY 0.36, up 28.57% from CNY 0.28 in 2019[22] - The weighted average return on equity for 2020 was 10.04%, an increase of 1.70 percentage points from 8.34% in 2019[22] - The operating profit for 2020 was 143.21 million RMB, reflecting a growth of 40.72% compared to the previous year[57] - The total operating income for the company reached CNY 1,367,602,009.38, reflecting a year-on-year increase of 6.22%[95] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.08 per 10 shares, totaling CNY 31,102,959.96, subject to shareholder approval[5] - For the year 2020, the company plans to distribute cash dividends of 1.08 RMB per 10 shares, amounting to 31,102,959.96 RMB, with a net profit of 103,001,877.67 RMB, leading to a payout ratio of 30.20%[134] - The company distributed cash dividends of 0.84 RMB per 10 shares, totaling 24,191,191.08 RMB for the year 2019, with a net profit attributable to ordinary shareholders of 79,730,500.46 RMB, resulting in a payout ratio of 30.34%[132] Industry Overview - In 2020, the pharmaceutical manufacturing industry achieved operating revenue of CNY 24,857.3 billion, a year-on-year increase of 4.5%[38] - The total profit for the pharmaceutical manufacturing industry reached CNY 3,506.7 billion, reflecting a year-on-year growth of 12.8%[38] - The pharmaceutical industry is expected to maintain strong downstream demand due to factors such as population growth, aging demographics, and increased healthcare spending[120] - The domestic raw material drug market has shown a year-on-year upward trend, driven by the expanding global pharmaceutical market[120] Research and Development - Research and development expenses amounted to 44.02 million RMB, a decrease of 6.28% from the previous year[59] - The company has a total of 8 major R&D projects, including innovative drugs LH-1801 and LH-1802, with LH-1801 having received Phase I clinical approval[99] - The company has established three major R&D platforms in Yangzhou, Nanjing, and "industry-university-research" integration to accelerate scientific innovation[106] - The company is focused on developing new products in cardiovascular, antihistamine, urology, and gynecology medications, aiming to update existing product lines[98] - The company is investing $50 million in research and development for new technologies aimed at enhancing product efficiency[198] Quality Management and Compliance - All raw materials and formulations produced by the company have passed GMP certification, ensuring compliance with quality standards[30] - The company has a robust quality assurance system that complies with GMP standards, ensuring product quality through regular inspections and analyses[47] - The company has implemented strict quality control measures throughout its production process to ensure product safety and quality[153] - The company emphasizes the importance of a robust quality management system to mitigate risks associated with product quality throughout the production and sales process[129] Market Strategy and Sales - The sales model primarily relies on specialized academic promotion and agency distribution, with academic promotion being the main sales approach for formulated products[37] - The company has implemented a centralized procurement management system to enhance internal controls over procurement and payment management[31] - The company aims to enhance R&D capabilities and accelerate the development of innovative drugs, particularly in areas like diabetes and leukemia treatment[123] - The company plans to strengthen its marketing strategy by integrating resources and enhancing academic collaborations to increase brand awareness[125] Environmental Responsibility - The company has established a dedicated EHS department to oversee environmental management and ensure compliance with environmental regulations[156] - The company has implemented air pollution control measures at various emission points, with non-methane total hydrocarbons measured at 9.31 mg/Nm³, well below the limit of 60 mg/Nm³[160] - The company has maintained a pollution discharge compliance record, with no exceedances reported in key pollutants such as chemical oxygen demand and ammonia nitrogen[158] - The company is committed to enhancing its environmental protection efforts, including increasing investment in environmental management and monitoring systems[155] Corporate Governance - The company has committed to maintaining independent financial operations, including separate bank accounts and financial decision-making processes[135] - The company has established measures to avoid decision-making errors in drug procurement and bidding processes[129] - The company has maintained a stable organizational structure, ensuring that its business operations remain independent from its controlling shareholders[135] - The company has engaged Tianheng Accounting Firm for auditing services with a fee of 600,000 RMB for the year 2020[139] Social Responsibility - The company actively responded to the call for "thousand enterprises linking thousand villages" and engaged in poverty alleviation efforts, supporting the construction projects in Xiangou Village with a funding of 700,000 RMB[149] - The company donated 8 tons of medical disinfectant and masks to support frontline medical personnel during the pandemic, along with a monetary contribution[154] - The company has engaged in social responsibility activities, including employee participation in voluntary blood donation campaigns[153] Future Outlook - The company provided guidance for the next quarter, expecting revenue to be between $1.6 billion and $1.8 billion, which translates to a growth rate of 7% to 20%[198] - Future outlook remains positive, with a projected annual growth rate of 10% over the next five years[198] - The management team has set a performance guidance of 1.8 billion yuan in revenue for the next fiscal year, reflecting a growth target of 20%[200]

2020 年第三季度报告 公司代码：600513 公司简称：联环药业 江苏联环药业股份有限公司 2020 年第三季度报告 1 / 24 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 7 | 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。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人夏春来、主管会计工作负责人夏春来及会计机构负责人（会计主管人员）王爱新 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。 二、 公司基本情况 2.1 主要财务数据 3 / 24 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 1,934,052,579.56 1,889,598,228.60 2.35 归属于上市公司股东的净资产 1, ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 615,897,136.33, representing an increase of 11.05% compared to CNY 554,607,620.33 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 45,101,939.43, up 9.03% from CNY 41,367,882.28 in the previous year[17]. - The net cash flow from operating activities reached CNY 52,247,790.65, a significant increase of 365.79% compared to CNY 11,217,033.92 in the same period last year[17]. - The basic earnings per share for the first half of 2020 was CNY 0.16, an increase of 14.29% compared to CNY 0.14 in the same period last year[18]. - The company’s weighted average return on net assets was 4.47%, an increase of 0.09 percentage points from 4.38% in the previous year[18]. - The net profit attributable to shareholders of the listed company was 45.10 million yuan, up 9.03% year-on-year, while the net profit excluding non-recurring gains and losses was 44.52 million yuan, an increase of 9.28%[39]. - The company reported a net profit margin improvement, with undistributed profits rising to ¥412,467,213.60 from ¥391,556,465.25, an increase of about 5.1%[101]. - The total comprehensive income for the first half of 2020 was ¥54,139,054.39, an increase from ¥42,091,213.24 in the same period of 2019[107]. - The company reported a decrease in profit distribution to shareholders amounting to CNY 22,265,589.06, indicating a strategic shift in capital allocation[120]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,880,549,264.02, a decrease of 0.48% from CNY 1,889,598,228.60 at the end of the previous year[17]. - The total current assets as of June 30, 2020, amount to ¥955,887,251.05, a decrease from ¥1,040,891,897.84 as of December 31, 2019[100]. - Total liabilities decreased to ¥766,037,619.68 from ¥805,571,326.13, a reduction of about 4.9%[101]. - The total equity attributable to the parent company at the end of the reporting period was CNY 1,114,511,644.3, showing growth from CNY 1,012,167,739 in the previous year[118]. - The company’s total assets at the end of the reporting period reached CNY 1,084,026,902.4, indicating a robust asset base for future operations[118]. - The company’s total liabilities were reported at CNY 391,556,465, indicating a stable leverage position[118]. Operational Highlights - The company primarily engages in the research, production, and sales of chemical pharmaceuticals, with a product range that includes over 20 major products[21]. - All raw material and formulation production lines have passed GMP certification, and six raw material products have been inspected by the US FDA[21]. - The company does not face any significant operational risks that could materially impact its production and operations during the reporting period[5]. - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[5]. - The company has implemented a comprehensive procurement management system, including supplier evaluation and auditing procedures[22]. - The company’s production processes are compliant with national GMP standards, ensuring strict quality control throughout production[25]. - The company has established a rigorous sales management system with clear targets and performance assessments to ensure sales objectives are met[30]. - The company has successfully developed and launched 2 national class I new drugs, 6 class II new drugs, and 2 class III new drugs, demonstrating strong R&D capabilities[34]. Market and Industry Context - In the first half of 2020, the pharmaceutical manufacturing industry achieved revenue of CNY 11,093.9 million, a year-on-year decrease of 2.3%[28]. - The total profit of the pharmaceutical manufacturing industry was CNY 1,586.0 million, showing a year-on-year increase of 2.1%[28]. - The overall profit of industrial enterprises above designated size in China was CNY 25,114.9 million, a year-on-year decline of 12.8%[28]. - The company faces risks including industry policy changes, rising raw material and labor costs, and price reductions in bidding processes[54]. Environmental Compliance - The company has maintained compliance with environmental regulations, with no violations reported during inspections[66]. - The company has implemented strict environmental management practices, including real-time monitoring of emissions[66]. - The company reported a total of 12 tons of hazardous waste generated in the first half of 2020, with 2.036 tons disposed of[72]. - The wastewater treatment facility has a processing capacity of 1500 m³/d and is operating normally since its trial run in June 2020[73]. - The company has established a comprehensive environmental management network to ensure compliance and accountability[66]. Governance and Compliance - The company guarantees the independence of its financial department and accounting system[58]. - The company ensures the independence of its assets and that all assets are under its control[58]. - The company has established a governance structure to ensure independent tax compliance and financial management[59]. - The company has committed to ensuring the independence of its financial decisions and operations, maintaining a complete corporate governance structure[59]. - The company has not reported any non-standard audit reports for the previous annual report[61]. Shareholder Information - The first extraordinary general meeting of shareholders in 2020 had a total of 109,622,188 shares represented, accounting for 38.05% of the voting shares[56]. - The number of shareholders reached 51,699 by the end of the reporting period[91]. - The largest shareholder, Jiangsu Lianhuan Pharmaceutical Group Co., Ltd., holds 105,868,515 shares, accounting for 36.76% of total shares[93]. - The second largest shareholder, China National Pharmaceutical Group Corporation, holds 3,752,073 shares, representing 1.30% of total shares[93]. Research and Development - Research and development expenses increased by 26.43% to CNY 18,876,220.36, reflecting the company's commitment to enhancing its R&D projects[45]. - The company aims to accelerate new product development through collaborations with universities and research institutions[54]. - The company has completed 18 new project investigations and initiated 2 generic drug projects and 12 technology research projects in the first half of 2020[41]. Cash Flow and Financing - The net cash flow from investment activities was negative at CNY -97,305,524.86, reflecting increased cash outflows for the construction of the new district[46]. - Cash inflow from financing activities totaled CNY 216,000,000.00, compared to CNY 100,300,000.00 in the same period last year, marking an increase of about 115.5%[113]. - The ending cash and cash equivalents balance for the first half of 2020 was CNY 235,414,611.64, compared to CNY 188,257,067.30 at the end of the first half of 2019, showing an increase of approximately 25%[113].

Financial Performance - Operating revenue for the period was ¥292,206,038.69, representing an 18.82% increase compared to the same period last year[5] - Net profit attributable to shareholders of the listed company was ¥19,136,150.82, up 14.75% year-on-year[5] - Basic earnings per share increased to ¥0.07, a rise of 16.67% compared to the previous year[5] - The company reported a profit of CNY 29,004,776.76 for Q1 2020, an increase of 43.41% from CNY 20,225,520.76 in Q1 2019, driven by increased revenue from subsidiaries[10] - Net profit for Q1 2020 was ¥23,299,869.68, representing a 38.1% increase from ¥16,855,374.13 in Q1 2019[24] - The total comprehensive income attributable to the parent company was CNY 19,136,150.82, compared to CNY 16,675,964.69 in the previous year, marking an increase of 14.73%[25] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,907,947,098.50, an increase of 0.97% compared to the end of the previous year[5] - Total liabilities decreased slightly to CNY 799,897,559.38 from CNY 805,571,326.13, indicating a focus on managing debt levels[16] - Total assets as of March 31, 2020, amounted to ¥1,486,052,722.93, compared to ¥1,396,244,221.29 at the end of 2019, indicating a growth of 6.4%[20] - Total liabilities as of March 31, 2020, were ¥579,879,358.19, an increase from ¥505,231,517.99 at the end of 2019, reflecting a rise of 14.7%[21] - Total current assets amounted to approximately 461.95 million, with cash and cash equivalents at 106.23 million[42] - Current liabilities were approximately 458.20 million, with short-term borrowings at 150.20 million[43] Shareholder Information - Net assets attributable to shareholders of the listed company amounted to ¥1,009,107,992.17, reflecting a growth of 2.01% year-on-year[5] - The total number of shareholders reached 50,130 at the end of the reporting period[9] - The largest shareholder, Jiangsu Lianhuan Pharmaceutical Group Co., Ltd., holds 36.76% of the shares[9] - Shareholders' equity totaled ¥906,173,364.74 as of March 31, 2020, compared to ¥891,012,703.30 at the end of 2019, marking a growth of 1.5%[21] Cash Flow - The net cash flow from operating activities was -¥4,973,937.14, showing an improvement from -¥38,824,627.79 in the same period last year[5] - The company reported a net cash outflow from operating activities of CNY -4,973,937.14, an improvement from CNY -38,824,627.79 in Q1 2019[32] - Cash and cash equivalents decreased to ¥96,227,802.57 from ¥106,229,661.72, a decline of 9.4%[19] - The net cash flow from financing activities improved to ¥27,152,365.87 in Q1 2020 from ¥9,674,958.33 in Q1 2019, reflecting a positive change in financing strategy[36] Research and Development - Research and development expenses rose to CNY 3,400,893.29 in Q1 2020, a 32.09% increase from CNY 2,574,720.32 in Q1 2019, indicating a focus on innovation[10] - Research and development expenses for Q1 2020 were ¥3,400,893.29, up from ¥2,574,720.32 in Q1 2019, indicating a growth of 32.0%[24] Government Subsidies - Government subsidies recognized in the current period amounted to ¥595,982.44[6] - The company received increased government subsidies, with other income rising to CNY 595,982.44 in Q1 2020, a 72.75% increase from CNY 345,000.00 in Q1 2019[10] Investment and Expenses - Investment losses increased to -CNY 246,802.74 in Q1 2020, compared to -CNY 138,188.96 in Q1 2019, indicating challenges in joint ventures and associates[10] - The company incurred financial expenses of CNY 1,978,822.78 in Q1 2020, significantly higher than CNY 322,454.43 in the same period last year[27] Inventory and Assets Management - The company reported a significant amount of inventory at approximately 66.24 million, indicating potential for future sales[42] - The company has ongoing construction projects valued at approximately 499.21 million, suggesting expansion efforts[43] - The company has a total of approximately 34.59 million in intangible assets, highlighting investments in intellectual property[43]