股票简称：康恩贝 证券代码：600572 编号：临 2023－032 浙江康恩贝制药股份有限公司 关于参加沪市主板生物医药行业上市公司 2022 年年报集体业绩说明会的公告 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： ●投资者可于 2023 年 5 月 6 日(周六)至 5 月 11 日(周四)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 wangyang@conbapharm.com 进行提问。 公司将在业绩说明会上对投资者普遍关注的问题进行回答。 浙江康恩贝制药股份有限公司（以下简称：公司）于2023年4月15日在上海 证券交易所网站www.sse.com.cn发布了公司2022年年度报告，为进一步加强与投 资者的沟通交流，使广大投资者能更加深入、全面地了解公司情况，公司计划于 2023年5月12日下午1:00-2:00参加沪市主板生物医药行业上市公司2022年年报 集体业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次业绩说明会以视频结合网络互动的方式召开， ...

Financial Performance - Net profit for Q1 2023 reached ¥324,873,847.25, compared to ¥134,649,996.91 in Q1 2022, reflecting a significant increase of approximately 141.1%[9] - Operating profit improved to ¥414,273,086.25 from ¥185,283,608.06, marking an increase of around 123.0% year-over-year[9] - The company achieved operating revenue of CNY 2.13 billion in Q1 2023, a year-on-year increase of 25.27%[16] - Net profit attributable to shareholders reached CNY 284.21 million, representing a significant growth of 175.17% compared to the same period last year[16] - The total comprehensive income for the period was 324,873,847.25 RMB, compared to 134,607,490.12 RMB in the previous year, representing a year-over-year increase of about 141%[45] - The total comprehensive income for Q1 2023 was CNY 45,151,309.05, compared to CNY 29,918,826.58 in Q1 2022, representing an increase of approximately 51.5%[58] Revenue and Costs - Total revenue for Q1 2023 reached CNY 2,130,542,570.91, a 25.4% increase from CNY 1,700,711,224.91 in Q1 2022[39] - Total operating costs for Q1 2023 were CNY 1,764,663,628.34, up from CNY 1,434,275,969.50 in Q1 2022, reflecting a 23.0% increase[39] - The company’s core business in traditional Chinese medicine generated revenue of CNY 1.44 billion, a 41% increase, accounting for 67.78% of total revenue[21] - Self-care product revenue reached CNY 1.11 billion, growing by 52.33%, with over-the-counter drugs contributing CNY 967 million, a 55.6% increase[22] Assets and Liabilities - Total assets rose to ¥11,773,272,870.30, up from ¥10,929,964,949.51, indicating an increase of about 7.7%[6] - Total liabilities increased to ¥4,174,378,498.32 from ¥3,605,940,336.82, which is an increase of approximately 15.8%[6] - The total equity attributable to shareholders rose to ¥7,182,747,554.47 from ¥6,913,851,405.56, reflecting an increase of about 3.9%[6] - Total assets increased to CNY 9,251,305,587.28 as of March 31, 2023, up from CNY 8,248,072,073.79 as of December 31, 2022, representing a growth of approximately 12.2%[50] - Total liabilities increased to CNY 2,906,883,910.20 from CNY 1,948,801,705.76, representing a growth of approximately 49.0%[52] Cash Flow - The cash flow from operating activities was CNY 82.90 million, reflecting a 59.24% increase compared to the previous year[16] - Net cash flow from operating activities for Q1 2023 was CNY 82,897,274.21, compared to CNY 52,059,158.79 in Q1 2022, indicating a 59.2% increase[38] - Cash inflow from operating activities totaled CNY 151,982,783.64, up from CNY 127,528,479.96 in the same period last year, indicating a growth of about 19.2%[58] - The net cash flow from operating activities was negative at CNY -26,094,943.93, an improvement from CNY -39,751,238.62 in Q1 2022[58] - Cash inflow from financing activities reached CNY 1,330,690,759.16, an increase from CNY 1,221,077,961.93 in Q1 2022, marking a growth of about 9.0%[60] - The net cash flow from financing activities was CNY 895,584,009.12, compared to CNY 751,339,383.65 in the same quarter last year, indicating an increase of approximately 19.2%[60] Investments and Acquisitions - The company completed the acquisition of 100% equity in Zhejiang Autokang Pharmaceutical Technology Co., Ltd. and 51% equity in Zhejiang Traditional Chinese Medicine University Chinese Herbal Medicine Co., Ltd. in 2022[20] - The company plans to publicly transfer 7.84% equity in Jiangxi Zhenzhiming Pharmaceutical Co., with a minimum transfer price set at CNY 290,000,006 based on a valuation of CNY 3.7 billion[34] - The company’s cash outflow for investing activities was CNY 539,147,115.12, significantly higher than CNY 164,111,873.91 in the previous year, indicating a strategic increase in investments[58] Shareholder Information - The total number of common shareholders at the end of the reporting period was 86,593[31] - Zhejiang Zhongyi Health Industry Group Co., Ltd. holds 20.85% of the shares, making it the largest shareholder[31] - The company has subscribed to 48,899,755 shares of Zhejiang Yingtai Group Co., Ltd. through a private placement[34]

Earnings Per Share (EPS) and Profitability - Basic earnings per share (EPS) for 2022 was 0.14 yuan, a decrease of 82.05% compared to 0.78 yuan in 2021[8] - Diluted EPS for 2022 was 0.14 yuan, also a decrease of 82.05% compared to 0.78 yuan in 2021[8] - Basic EPS excluding non-recurring gains and losses for 2022 was 0.19 yuan, an increase of 216.67% compared to 0.06 yuan in 2021[8] - The company's net profit attributable to shareholders in 2022 was 358.1 million yuan, a decrease of 82.25% year-on-year, while the net profit after deducting non-recurring gains and losses was 483.12 million yuan, an increase of 205.39% year-on-year[24] - The company's net profit attributable to shareholders in the first quarter of 2023 is expected to increase by more than 150%, reaching a historical high[38] - Excluding the impact of non-recurring items, the company achieved a net profit of 698 million RMB in 2022, a year-on-year increase of 3.49%, and non-GAAP net profit attributable to shareholders of 523 million RMB, a year-on-year increase of 26.30%[68] - The company's net profit attributable to the parent company for 2022 was RMB 357,930,669.22, compared to RMB 2,017,446,649.48 in the previous year[87] Return on Equity (ROE) - Weighted average return on equity (ROE) for 2022 was 5.03%, a decrease of 27.53 percentage points compared to 32.56% in 2021[8] - ROE excluding non-recurring gains and losses for 2022 was 6.89%, an increase of 4.27 percentage points compared to 2.62% in 2021[8] Revenue and Financial Performance - The company achieved a revenue of 6 billion yuan in 2022, a decrease of 8.64% year-on-year, but a 9.30% increase compared to the same period last year after excluding the impact of Zhenshiming Company[23] - Revenue for 2022 reached 6 billion RMB, with non-GAAP net profit attributable to shareholders of 483 million RMB, and net assets attributable to shareholders of 6.9 billion RMB, maintaining a good growth trend[61] - The company's total revenue for 2022 was RMB 6,000,443,393.73, primarily from pharmaceutical sales, including products like Changyanning, Qianliekang, and Compound Yuxingcao Mixture[79] - The company's operating income for 2022 was RMB 666,782,732.31, an increase from RMB 590,742,149.14 in the previous year[87] - The company's comprehensive income for 2022 was RMB 459,915,187.23, with RMB 357,930,669.22 attributable to the parent company and RMB 101,984,518.01 to minority shareholders[87] - The company's total assets at the end of 2022 were 10.93 billion yuan, a decrease of 3.05% compared to the end of 2021[33] - The company's net cash flow from operating activities in 2022 was 1.155 billion yuan, an increase of 29.65% year-on-year[33] - The company's net assets attributable to shareholders at the end of 2022 were 6.914 billion yuan, a decrease of 3.99% compared to the end of 2021[33] - The company's total assets as of December 31, 2022, were RMB 8,248,072,073.79, with current assets totaling RMB 2,212,387,528.13 and non-current assets totaling RMB 6,035,684,545.66[93] - The company's long-term equity investments as of December 31, 2022, were RMB 5,609,019,375.18, an increase from RMB 5,407,321,901.79 in the previous year[93] - The company's short-term borrowings as of December 31, 2022, were RMB 590,614,472.22, a decrease from RMB 1,211,208,216.44 in the previous year[93] - Net cash flow from financing activities was -924.71 million yuan, a decrease of 10.17% compared to the previous year's -1,026.02 million yuan[94] - The net increase in cash and cash equivalents was 28.77 million yuan, a significant decrease from the previous year's 952.21 million yuan[94] - The ending balance of cash and cash equivalents was 2,432.54 million yuan, slightly higher than the previous year's 2,403.76 million yuan[94] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 1.50 yuan per 10 shares, totaling 385.51 million yuan[43] Acquisitions and Equity Changes - The company completed the acquisition of 100% equity of Aotuokang Technology Company in September 2022 and 51% equity of Zhejiang University Herbal Pieces Company in October 2022[23] - The company's controlling shareholder changed to the Provincial Traditional Chinese Medicine Health Industry Group, which currently holds 20.85% of the company's shares[23] - The company completed the transfer of 42% equity of its former subsidiary Zhenshi Ming in 2021, recognizing an investment income of 2.5908 billion RMB, which increased the 2021 net profit by 2.3077 billion RMB[51] Asset Impairment and Fair Value Losses - In 2022, the company recognized a fair value loss of 198.1986 million RMB due to the decline in the market value of its holdings in Genor Biopharma, reducing net profit by 198.1986 million RMB[68] - In 2022, the company recorded a total asset impairment provision of 256.0155 million RMB, including a provision of 40.0299 million RMB for equity investment in Shanghai Keduo Network Technology[51] - The company's other non-current financial assets decreased by 198.1986 million RMB in 2022, primarily due to the decline in the market value of its holdings in Genor Biopharma[66] Quarterly Financial Performance - Q4 2022 revenue was 1.5122 billion RMB, with net profit attributable to shareholders of 128.7691 million RMB and non-GAAP net profit of 40.3567 million RMB[54] - Q3 2022 revenue was 1.4074 billion RMB, with net profit attributable to shareholders of 16.9392 million RMB and non-GAAP net profit of 130.4238 million RMB[54] - Q2 2022 revenue was 1.3802 billion RMB, with net profit attributable to shareholders of 109.1047 million RMB and non-GAAP net profit of 119.1022 million RMB[54] - Q1 2022 revenue was 1.7007 billion RMB, with net profit attributable to shareholders of 103.2868 million RMB and non-GAAP net profit of 193.2333 million RMB[54] Expenses and Cost Management - Sales expenses decreased by 14.94% to 2,061.56 million yuan, mainly due to the exclusion of Zhenshiming Company from the consolidated statements and strengthened marketing expense management[116] - Management expenses decreased by 3.87% to 519.89 million yuan, primarily due to the exclusion of Zhenshiming Company from the consolidated statements[116] - Financial expenses decreased by 124.34% to -14.28 million yuan, mainly due to increased interest income from the sale of 42% equity in Zhenshiming Company and reduced interest expenses from lower financing scale and rates[116] - R&D expenses decreased by 3.35% to 195.72 million yuan, mainly due to the exclusion of Zhenshiming Company from the consolidated statements and increased R&D investment[116] - The company's financial expenses for 2022 were RMB 19,957,409.84, a significant decrease from RMB 75,476,945.13 in the previous year[87] R&D and Innovation - The company's R&D projects include the secondary development of Ginkgo biloba extract and the clinical preparation of EVT-401 for pain relief[192] - The company's chemical drug products include azithromycin for injection, which is under professional review and has obtained approval[192] - The company's R&D investment in 2022 was 263 million yuan, accounting for 4.55% of manufacturing revenue, a year-on-year increase of 1 percentage point[199] - The company's R&D investment increased by 32% year-on-year[199] - The company obtained 2 production approvals for the innovative traditional Chinese medicine Huangshukui flower total flavonoid extract and oral patch[199] - The company obtained 7 consistency evaluation approvals for generic drugs, including Parecoxib Sodium for Injection and Omeprazole Enteric-coated Capsules[199] - The company established the "Zhejiang Traditional Chinese Medicine Innovation and Development Consortium" with Zhejiang University of Traditional Chinese Medicine in March 2022[199] Product and Market Performance - The company has cultivated multiple well-known brands, including Kang En Bei, Qian Lie Kang, and Tian Bao Ning, which are recognized as China's well-known trademarks[105] - The company has 60+ products listed in the National Essential Drug Directory (2018 edition) and 160+ products listed in the National Medical Insurance Directory (2022 edition)[106] - The company's international market share and pricing power are gradually increasing, with products like amikacin sulfate and azithromycin having a prominent position in domestic and international markets[165] - The company's raw material products have a significant production and export scale, with products like amikacin sulfate and spectinomycin hydrochloride[165] - The company's OTC sales model focuses on brand and academic development, with products like Kang En Bei and Jin Ao Kang having high brand recognition[169] - The company achieved pharmaceutical preparation revenue of 4.1 billion yuan in 2022, with self-operated revenue accounting for 85.3%[197] - The company's online business revenue reached 562 million yuan, a year-on-year increase of 37%, accounting for 9.4% of total revenue[197] - The company's online drug sales revenue reached 110 million yuan, a year-on-year increase of 73.2%[197] - The company's products with sales exceeding 100 million yuan generated revenue of 4.09 billion yuan, accounting for 68.16% of total revenue[198] - The "Kang En Bei" brand Changyanning series product achieved annual sales revenue exceeding 1 billion yuan for the first time, a year-on-year increase of 17.51%[198] Sector-wise Revenue and Gross Margin - Manufacturing sector revenue decreased by 10.21% to 578,470.94 million RMB, with a gross margin of 60.91%, down by 1.24 percentage points[123] - Commercial sector revenue increased by 81.96% to 16,078.36 million RMB, with a gross margin of 5.45%, up by 1.04 percentage points[123] - Non-prescription drugs revenue decreased by 1.26% to 203,970.45 million RMB, with a gross margin of 72.88%, down by 2.93 percentage points[123] - Health consumer products revenue decreased by 56.81% to 47,804.59 million RMB, with a gross margin of 50.14%, down by 5.13 percentage points[123] - Prescription drugs revenue decreased by 1.97% to 204,100.48 million RMB, with a gross margin of 78.42%, down by 1.49 percentage points[123] - Traditional Chinese medicine decoction pieces revenue increased by 22.46% to 53,639.76 million RMB, with a gross margin of 15.63%, up by 3.57 percentage points[123][128] - B2B sales revenue increased by 0.13% to 538,388.45 million RMB, with a gross margin of 59.93%, down by 2.77 percentage points[140] - Pharmaceutical industry sales revenue reached 5.785 billion yuan, accounting for 96.40% of total revenue, a year-on-year decrease of 10.21%, but a comparable growth of 7.90%[144] - Non-prescription drug sales revenue was 2.04 billion yuan, a year-on-year decrease of 1.26%, with a comparable growth of 7.61%[144] - The "Kang En Bei" brand Changyanning series product sales exceeded 1 billion yuan for the first time[144] Cost Structure - Direct material costs in industrial sales decreased by 9.13% year-on-year to 16.197 billion yuan, accounting for 71.63% of total costs[141] - Direct labor costs in industrial sales increased by 1.82% year-on-year to 1.729 billion yuan, accounting for 7.65% of total costs[141] - Fuel and power costs in industrial sales increased by 8.34% year-on-year to 994.67 million yuan, accounting for 4.40% of total costs[141] - Manufacturing expenses in industrial sales increased by 2.72% year-on-year to 2.851 billion yuan, accounting for 12.61% of total costs[141] - Transportation costs in industrial sales decreased by 27.83% year-on-year to 838.95 million yuan, accounting for 3.71% of total costs[141] - Total procurement costs in commercial sales increased by 80.46% year-on-year to 1.517 billion yuan, accounting for 99.83% of total costs[141] Other Financial Metrics - The company's investment income for 2022 was RMB 276,217,681.04, compared to RMB 2,190,730,489.23 in the previous year[87] - Prepaid engineering equipment payments decreased at the end of the reporting period, leading to changes in other non-current assets[163] - Prepayments increased by 54.51% to 69,803,131.26 yuan, while other non-current financial assets decreased by 59.07% to 137,345,656.52 yuan[182] - Overseas assets amounted to 205.86 million yuan, accounting for 1.88% of total assets[185] Digital Marketing and Online Sales - The company's digital marketing strategy is being developed in response to industry trends and market changes[190] - The company's online business revenue reached 562 million yuan, a year-on-year increase of 37%, accounting for 9.4% of total revenue[197] - The company's online drug sales revenue reached 110 million yuan, a year-on-year increase of 73.2%[197] Human Resources and R&D Personnel - The company has 206 R&D personnel, accounting for 2% of the total workforce, with 6 PhDs, 48 master's degrees, and 122 bachelor's degrees[179] Corporate Governance and Leadership - The company's stock is listed on the Shanghai Stock Exchange with the stock code 600572 and the stock abbreviation "康恩贝"[3] - The company's auditor is Tianjian Certified Public Accountants (Special General Partnership)[6] - The company's sponsor for continuous supervision is Zhejiang Securities Co., Ltd., with continuous supervision period from April 26, 2018, until the use of raised funds is completed[6] - The company's legal representative is Hu Jiqiang[19] - The company's board secretary is Jin Zucheng, and the securities affairs representative is Chen Fang[20]

浙江康恩贝制药股份有限公司 机构投资者调研活动纪要 一、机构调研情况 时间：2022 年 6 月 20 日 形式：现场调研、线上交流 参与交流机构：兴证全球基金、浙商医药 公司参与交流人员：副总裁、董事会秘书金祖成，总裁顾问杨俊德，投资者 关系管理高级经理汪鸯。 二、调研活动纪要 （一）公司概况介绍 公司投资者关系管理高级经理汪鸯首先向参与调研和交流的投资者就康恩 贝的基本概况及近几年的经营情况作了介绍。康恩贝公司自 2004 年在上交所上 市以来，立足中药大健康核心产业，公司经营取得了稳健的发展。近年来，由于 受到药品相关政策、新冠疫情等因素的影响，公司发展遇到了较大的挑战，但面 对困境公司积极应对，调整业务结构、整合资源聚焦发展自我保健产品核心业务。 2020 年 7 月,公司控股股东变为浙江省国贸集团公司下属的全资子公司浙江省中 医药健康产业集团有限公司（以下简称：省健康产业集团），开启了康恩贝与浙 江省国贸集团战略合作、国有资本和民营资本联合治理联合经营的新体制。2021 年公司又推出实施深化混合所有制改革的方案，加快非主业、非优势业务剥离和 低效、无效资产处置，进一步优化产业结构等一系列措施，应对外 ...

Financial Performance - The company's revenue for Q3 2022 was CNY 1.41 billion, a decrease of 12.37% compared to CNY 1.50 billion in Q3 2021[10] - Net profit attributable to shareholders was CNY 229.33 million, an increase of 4.49% year-on-year[14] - The net profit excluding non-recurring gains and losses was CNY 442.76 million, reflecting a growth of 19.11% compared to the previous year[14] - The company achieved cumulative sales of CNY 2.78 billion from its major brand project, a comparable growth of 10.91% year-on-year[12] - Total operating revenue for the first three quarters of 2022 was CNY 4,488,268,722.41, a decrease of 8.7% compared to CNY 4,914,997,058.37 in the same period of 2021[39] - Net profit for the first three quarters of 2022 was CNY 303,709,538.35, slightly down from CNY 304,066,952.85 in the same period of 2021[42] - The company's total assets amounted to CNY 10,639,427,049.63, a decrease from CNY 11,270,591,634.96 year-over-year[38] - The total comprehensive income attributable to the parent company was CNY 229,775,577.82, an increase from CNY 219,472,755.27 in the previous period, reflecting a growth of approximately 5.93%[45] Sales and Revenue Breakdown - The self-care product business generated sales of CNY 1.88 billion, a decline of 20.66%, but a comparable growth of 10.80% when excluding a subsidiary[11] - Prescription drug sales reached CNY 1.54 billion, a decrease of 4.14%, but a comparable growth of 6.45% when excluding the subsidiary[11] - The market for non-prescription drugs saw a sales increase of 6.91%, with specific products achieving significant growth[11] Cash Flow and Liquidity - The company experienced a decline in cash flow from operating activities, with a net cash flow of CNY 519.27 million for the year-to-date[6] - The company's cash and cash equivalents decreased to RMB 1,891,846,299.35 from RMB 2,573,269,180.24, representing a decline of 26.5%[33] - The net cash flow from operating activities was CNY 519,268,865.96, slightly down from CNY 554,260,329.67 in the previous year, indicating a decrease of about 6.31%[49] - The cash received from sales of goods and services was CNY 4,066,906,508.23, compared to CNY 4,576,697,810.82 in the same period last year, representing a decline of approximately 11.14%[46] - The ending cash and cash equivalents balance was 1,458,812,866.73, significantly higher than 199,795,348.63 from the previous period, showing improved liquidity[64] Investments and Acquisitions - The company completed the acquisition of 100% equity in Otto Kang Technology Company for RMB 35.58 million, making it a wholly-owned subsidiary[29] - The company also acquired 51% equity in Zhejiang University of Traditional Chinese Medicine's herbal medicine company for RMB 169.83 million, increasing its stake to 66%[29] - Investment income increased by 75.47%, as the company began recognizing investment income from its 38% stake in Zhenzhiming Company starting January 2022[17] - The company reported an investment income of CNY 265,554,181.02, down from CNY 564,431,823.85 in the same period of 2021[57] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 109,638[21] - The largest shareholder, Zhejiang Traditional Chinese Medicine Health Industry Group, holds 20.85% of the shares, totaling 535,777,040 shares[21] Financial Position - Total liabilities were CNY 3,443,246,793.68, down from CNY 3,640,512,881.62 in the previous year[38] - The company's total equity decreased to CNY 6,370,303,144.22 from CNY 6,595,073,223.53 in the previous year[57] - The company's long-term equity investments slightly decreased to RMB 1,461,887,175.88 from RMB 1,469,429,110.45[33] Future Plans and Strategies - The company plans to expand its online retail business and enhance its product structure to improve market coverage[9] - The company has proposed a stock option incentive plan to grant 70 million stock options to key personnel to align interests[26] - The company plans to issue up to RMB 10 billion in short-term financing bonds and medium-term notes to optimize its debt structure[29] - The company has plans for market expansion and new product development, although specific details were not provided in the content[63]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[21]. - The net profit attributable to shareholders was RMB 200 million, up 10% compared to the same period last year[21]. - The company achieved operating revenue of CNY 2,845,971,915.95 in the first half of 2022, a decrease of 8.77% compared to the same period last year[27]. - The net profit attributable to shareholders was CNY 208,851,156.51, down 14.96% year-on-year, impacted by a decline in the market value of Genor Biopharma[28]. - The net cash flow from operating activities was CNY 357,823,267.38, a decrease of 10.11% compared to the previous year[27]. - The company's total assets decreased by 1.37% to CNY 10,644,586,013.56 compared to the end of the previous year[27]. - Basic earnings per share decreased by 15.63% to CNY 0.081, while diluted earnings per share also decreased by the same percentage[27]. - The weighted average return on net assets was 2.91%, a decrease of 1.85 percentage points compared to the same period last year[27]. - The company reported a total revenue of 2.82 billion RMB for the first half of 2022, a decrease of 9.08% compared to the previous year[83]. Market Expansion and Product Development - The company has expanded its user base by 20%, reaching a total of 5 million active users[21]. - Future outlook indicates a projected revenue growth of 12% for the second half of 2022, driven by new product launches and market expansion[21]. - Market expansion efforts include entering three new provinces, aiming for a 25% increase in market share by the end of 2022[21]. - The company plans to launch two new products in Q4 2022, expected to contribute an additional RMB 150 million in revenue[21]. - The self-care product business generated sales revenue of 1.307 billion yuan, accounting for 46.26% of the company's main revenue, with a comparable growth of 44.23% after excluding Zhenzhiming Pharmaceutical[50]. - The company launched new products in the scalp health sector, including "Tianbao Hair" Finasteride tablets, and achieved initial good sales performance[51]. - The company’s sales revenue from prescription drugs reached 1.052 billion yuan, with a comparable growth of 6.19%[50]. - The company’s sales revenue from collective procurement products grew by 35% to 203 million yuan during the reporting period[50]. Research and Development - The company is investing RMB 100 million in R&D for new drug development, focusing on innovative therapies[21]. - The company’s R&D expenses increased by 9.04% to CNY 91,222,010.56, reflecting a commitment to enhance innovation and product development[68]. - The company is committed to increasing R&D investment to support the development of new products and enhance core competitiveness[101]. - The company continues to focus on R&D innovation, emphasizing the development of new drugs and specialty generic drugs, while ensuring a stable investment in R&D expenses[103]. Strategic Partnerships and Collaborations - The company has completed a strategic acquisition of a local biotech firm for RMB 300 million to enhance its product pipeline[21]. - The company has established strategic partnerships with third-party platforms like "Ali Health" and "JD Health" to enhance digital marketing efforts[45]. - The company signed a strategic cooperation agreement with Zhejiang Chinese Medical University to enhance collaboration in research, talent development, and industry growth in traditional Chinese medicine and health[186]. - The company has formed a joint innovation development consortium with Zhejiang Chinese Medical University to enhance the innovation capabilities of traditional Chinese medicine[56]. Environmental Management - The company has established pollution control facilities with a stable operation rate of over 98%, with an operational cost of approximately 6.58 million yuan during the reporting period[127]. - The company’s environmental monitoring reports indicate compliance with standards, with no administrative penalties for environmental issues during the reporting period[139]. - The company has implemented a comprehensive environmental management system, including ISO 14001 certification, to enhance environmental awareness and performance[161]. - The company achieved a reduction in steam consumption through the effective use of steam condensate heat recovery, and the introduction of magnetic levitation chillers[165]. Financial Strategy and Investments - The company issued a short-term financing bond totaling RMB 200 million at an interest rate of 2.80%, with the total repayment amount of RMB 202.76 million completed on July 5, 2022[186]. - The company invested a total of ¥163,102.57 million in significant non-equity projects, with ¥8,468.91 million invested in the current reporting period[89]. - The company has committed to eliminating potential competition with related parties through asset restructuring and business adjustments by November 17, 2022[172]. - The total expected daily related party transactions for 2022 is capped at RMB 1,007.62 million, with RMB 800 million expected with Yingte Group and RMB 207.62 million with Kang En Bei Group[176].

Financial Performance - The company achieved operating revenue of RMB 1,594,713,433.17 in Q1 2022, a slight increase of 0.23% year-on-year, and a comparable growth of 16.43% after excluding revenue from Jiangxi Zhenzhiming Pharmaceutical Co., Ltd.[8] - Net profit attributable to shareholders reached RMB 101,533,524.59, representing a significant increase of 112.25% compared to the same period last year[11] - The self-care product business generated sales revenue of RMB 732 million, a decline of 10.50% year-on-year, but a comparable growth of 14.55% after excluding Zhenzhiming's revenue[9] - Prescription drug sales amounted to RMB 593 million, up 5.07% year-on-year, with a comparable growth of 13.57% after excluding Zhenzhiming's sales[9] - Total revenue for Q1 2022 was approximately ¥1.59 billion, a slight increase from ¥1.59 billion in Q1 2021[31] - Net profit for Q1 2022 reached approximately ¥130.98 million, compared to ¥76.54 million in Q1 2021, reflecting a significant year-over-year increase[34] - The total comprehensive income attributable to the parent company was CNY 101,491,999.71, compared to CNY 47,834,425.32 in the same period last year, representing an increase of approximately 112.5%[37] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of RMB 50,391,186.16, a decrease of 68.70% compared to the previous year[5] - The company's cash and cash equivalents as of March 31, 2022, amounted to RMB 2,758,907,120.00, an increase from RMB 2,487,257,698.65 at the end of 2021[26] - Cash inflows from operating activities totaled CNY 1,240,655,082.08, down 15.0% from CNY 1,459,952,583.45 in the previous year[39] - Cash outflows from operating activities amounted to CNY 1,190,263,895.92, a decrease of 8.3% compared to CNY 1,298,976,978.00 last year[39] - The total cash and cash equivalents at the end of the period reached CNY 2,665,195,599.97, up from CNY 887,519,255.77 year-over-year[41] - The company's cash inflow from investment activities was CNY 15,348,953.42, down from CNY 207,229,200.00 in the previous year[50] - The ending balance of cash and cash equivalents reached $2,313,166,476.26, compared to $247,308,527.50 at the end of the previous period, indicating a substantial increase[53] Assets and Liabilities - Total assets at the end of the reporting period were RMB 11,288,234,488.21, an increase of 4.59% from the end of the previous year[8] - Total assets increased to approximately ¥11.29 billion in Q1 2022 from ¥10.79 billion in Q1 2021, indicating growth in the company's asset base[31] - Total liabilities rose to approximately ¥3.77 billion in Q1 2022 from ¥3.40 billion in Q1 2021, suggesting increased leverage[31] - Accounts receivable increased to RMB 1,360,484,563.68 from RMB 813,205,716.32 year-over-year[26] - Inventory as of March 31, 2022, was RMB 932,386,570.06, slightly up from RMB 923,412,089.32 at the end of 2021[26] - The total liabilities rose to CNY 2,803,469,466.75 from CNY 2,040,694,593.25, marking an increase of approximately 37.3%[48] Shareholder Information - The total number of common shareholders at the end of the reporting period was 109,607[18] - Zhejiang Traditional Chinese Medicine Health Industry Group Co., Ltd. holds 535,777,040 shares, accounting for 20.85% of total shares[18] - The second-largest shareholder, Kang En Bei Group Co., Ltd., holds 218,618,171 shares, representing 8.51%[18] Strategic Initiatives - The company plans to continue expanding its self-care product business and enhance its online retail operations to drive future growth[9] - A strategic cooperation framework agreement was signed with Kang Chen Pharmaceutical Group to enhance collaboration in various areas[25] Research and Development - Research and development expenses for Q1 2022 were approximately ¥44.40 million, up from ¥38.36 million in Q1 2021, highlighting a focus on innovation[34] - Research and development expenses increased to CNY 9,444,410.20 from CNY 8,802,823.51, representing a growth of about 7.3%[48]

Financial Performance - In 2021, the company achieved an operating revenue of 6.151 billion RMB, a year-on-year increase of 4.09%[4] - The net profit attributable to shareholders reached 548 million RMB, representing a year-on-year growth of 96%[4] - The company's operating revenue for 2021 was approximately ¥6.15 billion, an increase of 4.09% compared to ¥5.91 billion in 2020[41] - Net profit attributable to shareholders for 2021 reached approximately ¥2.01 billion, a significant increase of 343.24% from ¥453.30 million in 2020[41] - The net profit after deducting non-recurring gains and losses was approximately ¥158.19 million, up 872.16% from ¥16.27 million in 2020[41] - The company achieved operating revenue of 6.151 billion yuan, a year-on-year increase of 4.09%, and a net profit attributable to shareholders of 2.009 billion yuan, a year-on-year increase of 343.24%[64] - The net profit after deducting non-recurring gains and losses was 158 million yuan, representing a year-on-year increase of 872.16%[64] - The company's operating costs increased by 7.20% to 2.19 billion RMB[96] - The gross margin for the manufacturing sector was 65.48%, a decrease of 2.98 percentage points[102] - The B2C sales model saw a revenue increase of 26.95%, with a gross margin of 55.22%[102] Strategic Initiatives - The company completed the public transfer of 42% equity in Zhenzhiming, providing financial support for focusing on the core business of traditional Chinese medicine[7] - The company intends to enhance its core competitiveness through mergers and acquisitions, focusing on high-quality pharmaceutical assets in the traditional Chinese medicine and health sectors[13] - The company plans to launch new brands and products in areas such as hair growth, oral health, and elderly nutrition[11] - The company is committed to driving internal high-quality growth through innovation and external growth through mergers and acquisitions in 2022[10] - The company is actively optimizing its asset structure and disposing of non-core assets to enhance overall value[72] - The company is focusing on digital transformation, achieving significant improvements in management efficiency through the integration of financial and human resource systems[76] - The company is actively expanding its digital retail presence, collaborating with major e-commerce platforms to meet consumer needs efficiently[87] - The company has established partnerships with new retail platforms such as Alibaba Health and Ping An Good Doctor to expand its market reach[184] Product Development and Innovation - The company aims to secure the world's first marketing authorization for a dual-layer oral patch for traditional Chinese medicine[11] - The company received approval for new consistency evaluations for eight generic drugs, enhancing its innovation capabilities[71] - The company successfully advanced the industrialization of the world's first dual-layer oral patch for traditional Chinese medicine[70] - The company is focusing on developing non-medical insurance-dependent health products, including eye health products and functional foods, leveraging digital marketing and new retail models[142] - The company has 140 ongoing research projects, including 12 consistency evaluation projects and 68 new product development projects[167] - The company has introduced new research projects, including a total investment of RMB 1,891.98 million in the extraction of total flavonoids from Hibiscus sabdariffa and oral patches[181] Market Position and Competitive Edge - The company has established itself as a leading player in the domestic pharmaceutical industry, ranking among the top 100 pharmaceutical companies and top 10 traditional Chinese medicine companies in China[83] - The company has a comprehensive product structure, focusing on modern traditional Chinese medicine and plant-based drugs, with over 70 products included in the National Essential Medicines List[86] - The company has over 120 unique products with exclusive varieties, formulations, and specifications, enhancing its competitive edge in the market[92] - The company has a strong market presence in various therapeutic areas, including respiratory, digestive, cardiovascular, and urological systems, with leading market shares in several product categories[83] Challenges and Risks - The company has outlined various risks in its operations, including industry policy risks and product quality risks, which are detailed in the management discussion section[24] - The company is facing challenges from ongoing healthcare reforms and new regulations that impact drug costs and quality[200] Investment and Financial Health - The company reported a significant increase in cash flow from investment activities, totaling 1,100,011,311.84 RMB, compared to a negative cash flow of -166,769,241.95 RMB in the previous year, primarily due to the proceeds from the sale of a 42% stake in Zhenzhiming Pharmaceutical[125] - The company's cash and cash equivalents reached ¥2,487,257,698.65, accounting for 23.05% of total assets, an increase of 57.92% from the previous year[129] - Long-term equity investments rose to ¥1,467,436,865.57, representing 13.60% of total assets, a substantial increase of 241.86% compared to ¥429,245,218.49[129] - The company reported a net profit increase, with undistributed profits reaching ¥3,849,983,262.64, up 109.15% from ¥1,840,754,191.30[129] Regulatory Environment - The government is advancing drug procurement reforms, with centralized procurement becoming a mainstream practice, and the dynamic adjustment of the medical insurance catalog is now an annual process[146] - The national centralized drug procurement program saved approximately 260 billion yuan over three years, with an average price reduction of 53% for the first six batches of drugs[147] - The implementation of DRG and DIP payment methods will shift hospitals' focus to cost-benefit analysis, prompting the company to adapt its sales strategy accordingly[150] Future Outlook - The pharmaceutical industry in China is expected to maintain growth above GDP due to increasing health awareness and government support for innovation and public health[199] - The "14th Five-Year" plan emphasizes the development of traditional Chinese medicine, which is expected to drive demand and stabilize growth in the pharmaceutical sector[199]

Financial Performance - The company's revenue for Q3 2021 was CNY 1,501,152,409.52, an increase of 11.41% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of CNY 30,910,210.30, a decrease of 151.20% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 126,157,614.80, an increase of 161.13% compared to the same period last year[5]. - The company's net profit for the first nine months of 2021 was CNY 214,693,058.22, a decrease of 60.52% year-on-year[12]. - The company reported a basic earnings per share of -0.012 yuan, a decrease of 150.11% compared to the same period last year[5]. - Net profit attributable to shareholders of the parent company for Q3 2021 was ¥214,693,058.22, down from ¥543,822,244.33 in Q3 2020, indicating a decline of approximately 60.5%[45]. - The company reported a net profit of ¥294,689,411.60 for Q3 2021, compared to ¥619,931,003.91 in Q3 2020, a decrease of around 52.4%[43]. - Earnings per share for Q3 2021 was ¥0.084, down from ¥0.212 in Q3 2020, representing a decline of approximately 60.4%[45]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,888,327,057.11, a decrease of 4.21% from the end of the previous year[8]. - As of September 30, 2021, the company's total assets amounted to ¥8,888,327,057.11, a decrease from ¥9,278,585,412.77 as of December 31, 2020[33]. - The company's cash and cash equivalents decreased to ¥985,504,473.85 from ¥1,575,057,825.63 year-over-year[33]. - Total current liabilities decreased to ¥2,913,651,894.04 from ¥3,252,806,194.04 year-over-year[36]. - Long-term borrowings decreased significantly to ¥200,028,588.28 from ¥502,710,229.06 year-over-year[36]. - The total liabilities decreased to ¥3,272,418,190.81 in 2021 from ¥3,929,168,800.83 in 2020, a reduction of approximately 16.7%[39]. - The total equity attributable to shareholders of the parent company increased to ¥5,259,259,941.14 in 2021 from ¥5,026,170,667.24 in 2020, reflecting a growth of about 4.6%[39]. Cash Flow - The company’s cash flow from operating activities for the first nine months was CNY 562,132,178.00, a decrease of 14.07% year-on-year[5]. - Cash inflow from operating activities for the first three quarters of 2021 was CNY 4,514,948,841.65, a decrease of 7.2% compared to CNY 4,867,908,633.46 in the same period of 2020[49]. - Net cash outflow from investing activities was CNY -120,027,272.78, compared to CNY -11,384,266.69 in the previous year, indicating a significant increase in investment expenditures[51]. - Net cash flow from financing activities was CNY -935,402,215.88, a decline from CNY -524,741,577.58 in the same period last year, reflecting higher debt repayments[51]. - Total cash and cash equivalents at the end of the period stood at CNY 899,709,745.13, down from CNY 1,460,676,056.80 at the end of the previous year[51]. - The company received CNY 4,272,919,643.39 in cash from sales of goods and services, a decrease from CNY 4,547,425,193.09 in the previous year[49]. - Cash paid to employees increased to CNY 834,679,815.94 from CNY 713,140,541.70, reflecting a rise of 17% in employee compensation[49]. - Cash outflow for other operating activities was CNY 1,561,143,375.86, down from CNY 1,925,128,367.30, indicating improved cost management[49]. - Cash inflow from investment activities totaled CNY 211,029,330.28, a decrease from CNY 416,614,624.53 in the previous year, highlighting reduced investment returns[51]. - The company reported a cash inflow of CNY 1,392,000,000.00 from borrowings, down from CNY 2,464,250,000.00 in the previous year, indicating a decrease in new financing[51]. - The company experienced a net increase in cash and cash equivalents of CNY -493,075,586.50, contrasting with a net increase of CNY 116,814,008.91 in the previous year[51]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 114,743[21]. - Zhejiang Zhongyi Medicine Health Industry Group Co., Ltd. holds 20.00% of shares, totaling 533,464,040 shares[21]. - Kang En Bei Group Co., Ltd. holds 8.11% of shares, totaling 216,284,371 shares[21]. Asset Transfers and Strategy - The company has completed the transfer of a 30% stake in Lanxin Microfinance Company for a total of 53.37 million RMB[24]. - The company is in the process of transferring a 42% stake in Jiangxi Zhenzhiming Pharmaceutical Co., Ltd., with an estimated value of 1,450,680,000 RMB[25]. - The estimated total equity value of Jiangxi Zhenzhiming is 4 billion RMB, with a minimum transfer price set at 1.68 billion RMB[25]. - The company is also transferring 100% of Guizhou Bait Company, with an estimated value of 203,643,612.64 RMB[26]. - The transfer of Guizhou Bait Company is set with a minimum transfer price of 203,643,613 RMB[26]. - The company aims to focus on the core business of traditional Chinese medicine health industry through these asset transfers[24]. Research and Development - The company has initiated a new product development strategy, focusing on enhancing its pharmaceutical offerings[29]. - Research and development expenses for the first three quarters of 2021 amounted to ¥135,739,532.07, compared to ¥127,761,353.13 in the same period of 2020, showing an increase of about 6.2%[43]. Other Financial Metrics - The company recognized a fair value change loss of CNY 28,439,330.00 related to its holdings in Genor Biopharma, affecting net profit[13]. - Excluding the impacts from Genor Biopharma and Guizhou Bait, the company's net profit for the first nine months would have increased by approximately 43.76% year-on-year[15]. - The company is currently in the creditor declaration period for the share cancellation, which lasts from September 30, 2021, to November 15, 2021[29]. - Total operating revenue for the first three quarters of 2021 reached ¥4,620,666,505.05, an increase from ¥4,542,445,465.87 in the same period of 2020, representing a growth of approximately 1.7%[39]. - Total operating costs decreased to ¥4,039,994,729.28 in 2021 from ¥4,067,536,050.68 in 2020, reflecting a reduction of about 0.7%[39]. - The company reported a decrease in financial expenses to ¥46,933,858.31 in Q3 2021 from ¥85,910,024.88 in Q3 2020, a reduction of about 45.3%[43]. - Deferred income tax liabilities decreased to ¥25,160,263.02 in 2021 from ¥74,311,929.97 in 2020, indicating a decline of approximately 66.1%[39].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 3,119,514,095.53, a decrease of 2.36% compared to CNY 3,195,002,007.39 in the same period last year [20] - The net profit attributable to shareholders of the listed company was CNY 245,603,268.52, down 49.20% from CNY 483,453,001.06 in the previous year [20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 245,555,336.07, an increase of 124.36% compared to CNY 109,447,780.27 in the same period last year [20] - The net cash flow from operating activities was CNY 398,085,855.31, a decrease of 4.28% from CNY 415,883,788.40 in the previous year [20] - The weighted average return on net assets decreased by 5.15 percentage points to 4.76% compared to the same period last year [22] - The company reported a fair value loss of 68.66 million yuan related to JHBP(CY), impacting the net profit attributable to shareholders by 33.30 million yuan [25] - The company reported a total revenue of 3,106,402,408.62 RMB, a decrease of 2.38% year-on-year, with a gross margin of 66.06% [78] - The company reported a net profit of 15.32 million yuan for the first half of 2021, with a net profit of 15.17 million yuan after deducting asset disposal gains and losses [172] Assets and Liabilities - The net assets attributable to shareholders of the listed company at the end of the reporting period were CNY 5,284,052,337.53, an increase of 5.13% compared to CNY 5,026,170,667.24 at the end of the previous year [20] - Total assets at the end of the reporting period were CNY 9,107,430,257.15, a decrease of 1.84% from CNY 9,278,585,412.77 at the end of the previous year [20] - The company's total assets as of June 30, 2021, were approximately 3.96 billion RMB, down from 4.14 billion RMB at the end of the previous year [198] - The company's accounts receivable increased to approximately 1.26 billion RMB, up from 859.99 million RMB, indicating growth in sales [198] - The company's long-term equity investments were approximately 422.26 million RMB, slightly down from 429.25 million RMB year-over-year [198] - The company's total liabilities decreased, contributing to a stronger balance sheet and reduced financial risk [193] Business Operations - The company achieved operating revenue of 3.12 billion yuan in the first half of 2021, a decrease of 2.36% compared to the same period last year, but a 14.94% increase compared to the second half of 2020 [24] - The company’s main business remains stable with a positive development trend despite the challenges posed by the pandemic and price reductions from centralized procurement [28] - The company is focusing on self-care products, which have become one of its main business segments, in response to market changes [33] - The company achieved a self-care product revenue of 1.586 billion, accounting for 51.01% of its main business revenue, marking it as the largest core business segment [51] - The health consumer products business grew by 2.06%, while the non-prescription drug business saw a year-on-year decline of 7.76% due to pandemic-related product sales, but it increased by 12.43% quarter-on-quarter [53] - The company is actively expanding its health consumer goods business and exploring online sales channels for prescription drugs and OTC products [102] Research and Development - The company has applied for over 300 patents, with more than 100 granted, and is currently developing nearly 20 innovative drugs [39] - The company is committed to investing in R&D, particularly in innovative traditional Chinese medicine projects, to enhance product development and market competitiveness [64] - The company is focusing on enhancing brand marketing to improve market competitiveness and expand market share [102] Risk Management and Compliance - There were no significant risks that materially affected the company's production and operation during the reporting period [8] - The company is committed to risk management and lean management practices, optimizing resource allocation and enhancing manufacturing capabilities [59] - The company is addressing risks related to product quality by enhancing its quality management system and ensuring compliance with legal requirements throughout the production process [103] - The company is facing increased environmental and safety operational risks due to heightened government regulations aimed at achieving carbon peak and stricter safety production laws [109] Environmental Responsibility - The company has wastewater treatment facilities with a design capacity of 3,200 tons/day and 2,000 tons/day, achieving an operational stability rate of over 98% [124] - The company has established pollution control facilities with a designed treatment capacity of 850 tons/day for Daokou and 1200 tons/day for Nanyan, with an operational stability rate exceeding 95% [135] - The company has signed a 2021 annual energy conservation and emission reduction responsibility agreement to enhance its environmental responsibility [151] - The company has implemented measures to significantly reduce wastewater discharge by reusing cooling water and packaging materials, leading to a substantial decrease in solid waste generation [153] Corporate Governance - The company has no significant litigation or arbitration matters during the reporting period [164] - The company has no significant related party transactions during the reporting period [164] - The company has implemented strict internal assessment and accountability mechanisms to enhance supervision and oversight of its subsidiaries [109] - The company is advancing its mixed-ownership reform, which was officially implemented on July 28, 2021, as the first mixed-ownership reform plan in the Zhejiang provincial state-owned enterprise system [50] Shareholder Information - The company's largest shareholder, Zhejiang Traditional Chinese Medicine Health Industry Group, holds 20% of the shares, while the second largest shareholder, Kang En Bei Group, holds 8.11% [184] - The total number of ordinary shareholders at the end of the reporting period was 125,209 [184] - The company transferred 42,500,000 shares, representing 1.59% of the total share capital, to Kang En Bei Group, resulting in a new ownership structure where Kang En Bei Group holds 216,284,371 shares (8.11%) [177]