Financial Performance - The company's operating revenue for the first half of 2019 was ¥133,148,773.65, a decrease of 39.49% compared to ¥220,035,072.93 in the same period last year[16]. - The net profit attributable to shareholders for the first half of 2019 was ¥37,486,550.58, down 29.88% from ¥53,462,191.01 in the previous year[16]. - The net cash flow from operating activities was negative at -¥42,877,591.50, a decline of 186.72% compared to ¥49,445,060.46 in the same period last year[16]. - Basic earnings per share for the first half of 2019 were ¥0.0936, down 29.89% from ¥0.1335 in the same period last year[17]. - The total operating revenue for the first half of 2019 was CNY 133 million, a decrease of 39.49% compared to the same period last year[32]. - The net profit attributable to shareholders of the listed company was CNY 37 million, down 29.88% year-on-year[32]. - The revenue from Huawai Pharmaceutical Group was CNY 118.6 million, a decrease of 13.33% year-on-year, with a net profit of CNY 31.1 million, down 42.59%[33]. - The company’s R&D revenue was CNY 75.16 million, a decrease of CNY 26.91 million from CNY 102.07 million in the previous year[34]. - The company’s labor costs increased by 56.16% year-on-year, amounting to CNY 53.99 million, which constituted 45.52% of the current operating revenue[35]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,242,682,519.16, a slight decrease of 0.45% from ¥1,248,330,745.21 at the end of the previous year[16]. - The net assets attributable to shareholders increased by 4.96% to ¥958,942,299.21 from ¥913,643,129.67 at the end of the previous year[16]. - As of June 30, 2019, the total assets of the company amounted to CNY 1.243 billion, with equity attributable to the parent company at CNY 959 million[32]. - The company's total liabilities decreased to ¥273,202,860.53 from ¥328,746,240.15, reflecting a reduction of about 16.9%[104]. - The company's current assets totaled ¥606,368,395.55, down from ¥620,653,640.54 at the end of 2018, indicating a decrease of approximately 2.3%[102]. Cash Flow - The company’s cash and cash equivalents decreased by 72.86% to ¥27,242,065.02, mainly due to payments for investments and operational expenses[44]. - The company reported cash and cash equivalents of ¥27,242,065.02, down from ¥100,379,375.83, indicating a significant decrease of approximately 72.9%[102]. - Cash flow from operating activities for the first half of 2019 was ¥105,809,992.11, down from ¥188,999,094.87 in the first half of 2018, a decrease of approximately 43.9%[117]. - Operating cash inflow totaled CNY 131,860,953.08, a decrease from CNY 223,291,452.91 in the previous period, reflecting a decline of approximately 41%[118]. - The ending cash and cash equivalents balance was CNY 27,242,065.02, down from CNY 64,495,756.40 in the previous period, indicating a decrease of approximately 58%[119]. Business Strategy and Operations - The company is focusing on the development of innovative drugs in oncology, hypertension, and diabetes, utilizing both client-commissioned and independent research approaches[23]. - The CRO service model is designed to save time and costs for pharmaceutical companies, reflecting a growing trend in the industry towards outsourcing[24]. - The company has established a collaborative effect through its subsidiaries, enhancing service range and operational efficiency[30]. - The company is optimizing its business structure by divesting from non-core operations and focusing on the pharmaceutical health sector[38]. - The company has committed to not engaging in any form of drug research and development business that could compete with its listed operations[60]. Shareholder and Equity Information - The company has not proposed any profit distribution plan for the reporting period[5]. - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[56]. - The total number of ordinary shareholders as of the end of the reporting period is 15,342[88]. - The company has not made any changes to its share capital structure during the reporting period[86]. - The largest shareholder, Xinjiang Production and Construction Corps Sixth Division State-owned Assets Management Co., held 79,525,087 shares, accounting for 100% of the total shares[89]. Compliance and Legal Matters - The company has not faced any significant litigation or administrative penalties in the past five years[67]. - The company is currently involved in arbitration regarding a dispute over the "Profit Forecast Supplement Agreement" from 2018[71]. - The company guarantees that Huawai Pharmaceutical will maintain normal and legal operational status until the completion of equity transfer[65]. - The company will continue to strictly adhere to legal and regulatory requirements in conducting related transactions to protect the rights of Baihuacun and its shareholders[61]. Future Outlook - The cumulative net profit forecast for the year may face significant fluctuations compared to the same period last year[54]. - The company plans to enhance its market expansion strategies in the upcoming quarters[129]. - The company has committed to compensating for any losses incurred by Huawai Pharmaceutical due to violations of agreements[62]. Accounting and Financial Reporting - The company appointed Sigma Accounting Firm as the auditor for the 2019 fiscal year[70]. - The company’s financial statements comply with the relevant accounting standards and accurately reflect its financial position as of June 30, 2019[157]. - The company’s accounting policies are based on actual operating characteristics and comply with the relevant accounting standards[156]. - The company’s financial reporting period follows the calendar year, from January 1 to December 31[158].

证券代码：600721 证券简称：*ST 百花 公告编号：2019-048 新疆百花村股份有限公司关于参加 2019 年新疆辖区 上市公司投资者集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及 连带责任。 为便于广大投资者更深入全面地了解公司情况、发展战略、经营 状况、融资计划、可持续发展等投资者所关心的问题，公司定于 2019 年 7 月 26 日下午 15:00-17:30 参加由新疆上市公司协会联合深圳市全 景网络有限公司组织开展的 2019 年新疆辖区上市公司投资者集体接 待日活动。现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上 平台，采取网络远程的方式举行，投资者可以登录"全景·路演天下" 网站（http://rs.p5w.net/）或关注微信公众号：全景财经（微信号： p5w2012），参与公司本次投资者集体接待日活动，活动时间为 2019 年 7 月 26 日（星期五）15:00 至 17:30。 出席本次集体接待日的人员有：公司董事长郑彩红、常务副总经 理吕政田、 ...

Financial Performance - The company's net profit for 2018 was -799,158,062.38 CNY, with a cumulative distributable profit of -1,807,404,994.82 CNY, resulting in no cash dividend distribution for the year [6]. - Total revenue for 2018 was 419,189,442.94 CNY, a slight decrease of 0.07% compared to 419,502,543.16 CNY in 2017 [22]. - The net loss attributable to shareholders for 2018 was -807,864,681.82 CNY, representing a 43.21% increase in losses compared to -564,115,292.91 CNY in 2017 [22]. - The basic earnings per share for 2018 was -2.0177 CNY, a decline of 43.21% from -1.4089 CNY in 2017 [24]. - The weighted average return on equity for 2018 was -61.31%, a decrease of 33.15 percentage points from -28.16% in 2017 [24]. - The company reported a significant increase in cash flow from operating activities, generating 80,553,717.37 CNY in 2018, compared to a negative cash flow of -50,260,023.26 CNY in 2017, marking a 260.27% improvement [22]. - The company's total assets decreased by 38.59% to 1,248,330,745.21 CNY at the end of 2018, down from 2,032,765,005.73 CNY in 2017 [23]. - The company's net assets attributable to shareholders decreased by 46.93% to 913,643,129.67 CNY at the end of 2018, down from 1,721,507,811.49 CNY in 2017 [23]. Operational Highlights - The company has faced continuous net losses for the last two accounting years, which may lead to a delisting risk warning as per the Shanghai Stock Exchange regulations [7]. - The company did not engage in any non-operating fund occupation by controlling shareholders or related parties during the reporting period [7]. - In Q1 2018, the company reported revenue of ¥111,926,381.39, which decreased to ¥58,672,336.96 in Q4 2018, indicating a significant decline in revenue over the year [26]. - The net profit attributable to shareholders was ¥31,614,198.05 in Q1 2018, but the company faced a loss of ¥877,945,622.59 in Q4 2018, reflecting a downward trend in profitability [26]. - The net cash flow from operating activities showed fluctuations, with a positive cash flow of ¥3,903,750.27 in Q1 and a substantial increase to ¥61,269,325.32 in Q4 2018 [26]. Research and Development - The company’s main business focuses on drug discovery, research, and technology services, providing integrated solutions for new drug development [34]. - The company has a strong focus on innovative drug development in areas such as oncology, hypertension, and diabetes, targeting both novel and clinically validated drug targets [34]. - The company has established multiple mature technology platforms, including chiral synthesis and controlled-release formulation technologies, enhancing its competitive edge in drug development [40]. - The company plans to strengthen its core pharmaceutical research and development business while expanding its capabilities in clinical services and technology transfer [48]. - The company aims to enhance its research and development capabilities by increasing investment in biopharmaceuticals and expanding its CRO services to improve market competitiveness [80]. Financial Management and Strategy - The company has committed to enhancing its internal control systems and risk management practices to mitigate financial risks [46]. - The company has initiated a comprehensive asset management review to improve operational efficiency and asset utilization [47]. - The company plans to achieve a total revenue of 3.18 billion in 2019, with 2.95 billion expected from the pharmaceutical sector [81]. - The company intends to establish an industrial merger fund to enhance capital strength and promote growth through mergers and acquisitions [80]. - The company is focusing on expanding its market presence and enhancing its operational scale through strategic acquisitions in the pharmaceutical industry [80]. Shareholder and Governance - The company has not proposed any cash dividend distribution plans despite having positive distributable profits for the reporting period [90]. - The board of directors is required to develop a profit distribution plan based on the company's operational conditions and market environment when profits meet distribution criteria [87]. - The company has not distributed dividends in the past three years, with net profits reported as negative in 2018 (-807.86 million RMB) and 2017 (-564.12 million RMB) [89]. - The company has performance commitments for net profits of at least 1.47 billion RMB for 2018 and a cumulative net profit of no less than 370 million RMB from 2016 to 2018 [91]. - The company has maintained a clear ownership structure with no disputes or potential disputes regarding its equity holdings [107]. Compliance and Risk Management - The company has ensured compliance with relevant laws and regulations, with no violations reported [110]. - The company has not faced any significant lawsuits or administrative penalties that could materially impact its operations [113]. - The company has a complete business system and operates independently in the market without significant competition from related parties [112]. - The company has actively engaged with investors through various communication channels to address their concerns [184]. - The company maintained effective internal control over financial reporting as of December 31, 2018, with no significant deficiencies identified [192]. Employee and Management - The company has a total of 723 employees, with 55 in the parent company and 668 in major subsidiaries [176]. - The company has implemented a composite salary system consisting of base salary, performance pay, and various subsidies [177]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 219.03 million [172]. - The management team has extensive experience in the healthcare and pharmaceutical industries, enhancing the company's strategic positioning [169]. - The company has established a clear decision-making process for executive compensation, ensuring transparency and accountability [172].

Financial Performance - Net profit attributable to shareholders was CNY 26,477,959.08, down 16.25% year-on-year[6]. - Operating revenue for the period was CNY 70,454,860.94, representing a decline of 37.05% compared to the same period last year[6]. - The net profit after deducting non-recurring gains and losses was CNY 25,162,949.03, down 18.97% year-on-year[6]. - The company's net profit from investment increased significantly to CNY 5.29 million, up 1706.56% from CNY 0.29 million year-on-year, primarily due to gains from the disposal of long-term equity investments[16]. - Total operating revenue for Q1 2019 was ¥70,454,860.94, a decrease of 37% compared to ¥111,926,381.39 in Q1 2018[28]. - Net profit for Q1 2019 was ¥26,308,541.27, a decline of 16% from ¥31,574,329.11 in Q1 2018[29]. - Total profit for Q1 2019 was ¥29,753,434.13, down 20% from ¥36,993,756.17 in Q1 2018[29]. - The basic and diluted earnings per share for Q1 2019 were ¥0.0661, compared to ¥0.0790 in Q1 2018[30]. Cash Flow - The net cash flow from operating activities was negative CNY 48,569,318.25, a significant decrease of 1,344.17% year-on-year[6]. - The net cash flow from operating activities was -52,196,452.81 RMB, a significant decline compared to 26,463,307.07 RMB in the same period last year, indicating a negative cash flow trend[36]. - The total cash outflow from operating activities reached 76,406,053.17 RMB, compared to 25,562,928.88 RMB in the previous year, indicating a substantial increase in cash outflows[36]. - The company reported a total cash inflow from operating activities of 24,209,600.36 RMB, down from 52,026,235.95 RMB year-over-year, indicating a decline in operational performance[36]. - The company received 19,178,293.78 RMB from other operating activities, a significant increase from 3,668,084.66 RMB in the previous year, showing improved cash inflow from this segment[36]. - The company paid 57,061,608.24 RMB in other operating cash payments, a notable rise from 13,458,278.12 RMB in the same quarter last year, indicating increased operational costs[36]. - Cash and cash equivalents dropped significantly from CNY 17,512,665.93 to CNY 2,536,493.18, a decrease of approximately 85.5%[25]. - Cash and cash equivalents at the end of the period were 2,536,493.18 RMB, down from 51,831,190.52 RMB at the end of the same quarter last year, reflecting a decrease of approximately 95%[37]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,235,967,627.94, a decrease of 0.99% compared to the end of the previous year[6]. - Current liabilities decreased from CNY 288,616,418.24 to CNY 247,967,849.68, a reduction of about 14.1%[23]. - Non-current liabilities decreased from CNY 40,129,821.91 to CNY 37,290,338.66, a decrease of approximately 7.2%[23]. - Total liabilities decreased from CNY 328,746,240.15 to CNY 285,258,188.34, a decline of around 13.2%[23]. - The company's total current assets as of March 31, 2019, were CNY 602.82 million, a slight decrease from CNY 620.65 million at the end of 2018[21]. - The balance of prepaid accounts at the end of the reporting period was CNY 32.77 million, an increase of 183.78% from CNY 11.55 million at the beginning of the period, mainly due to prepaid purchase amounts[15]. - The balance of other receivables increased to CNY 6.14 million, a rise of 229.07% from CNY 1.87 million at the beginning of the period, mainly due to receivables from the transfer of 51% equity in Tianjin Trading Company[15]. - The balance of accounts payable decreased to CNY 46.60 million, down 36.18% from CNY 73.02 million at the beginning of the period, mainly due to the reduction in the scope of consolidation after the equity transfer[15]. - Total equity increased from CNY 919,584,505.06 to CNY 950,709,439.60, an increase of approximately 3.4%[23]. Shareholder Information - The total number of shareholders at the end of the reporting period was 18,998[12]. - The largest shareholder, Xinjiang Production and Construction Corps, held 19.86% of the shares[12]. Other Income and Gains - The company reported non-recurring gains of CNY 1,315,010.05 for the period[11]. - The company reported other income of CNY 1.56 million, an increase of 2038.27% from CNY 0.07 million year-on-year, mainly due to government subsidies from Nanjing Huawei Company[16]. - Investment income for Q1 2019 was ¥5,289,590.05, compared to ¥292,846.62 in Q1 2018, indicating a substantial increase[28].

Financial Performance - The company's net profit for 2018 was -799,158,062.38 CNY, with a cumulative distributable profit of -1,807,404,994.82 CNY, resulting in no cash dividend distribution for the year [6]. - Operating revenue for 2018 was 419,189,442.94 CNY, a slight decrease of 0.07% compared to 419,502,543.16 CNY in 2017 [22]. - The net loss attributable to shareholders for 2018 was -807,864,681.82 CNY, representing a 43.21% increase in losses compared to -564,115,292.91 CNY in 2017 [22]. - The company's total assets decreased by 38.59% to 1,248,330,745.21 CNY at the end of 2018, down from 2,032,765,005.73 CNY in 2017 [23]. - The basic earnings per share for 2018 was -2.0177 CNY, a decline of 43.21% from -1.4089 CNY in 2017 [24]. - The weighted average return on equity for 2018 was -61.31%, a decrease of 33.15 percentage points from -28.16% in 2017 [24]. - Cash flow from operating activities improved significantly to 80,553,717.37 CNY in 2018, compared to -50,260,023.26 CNY in 2017, marking a 260.27% increase [22]. - The company's net assets attributable to shareholders decreased by 46.93% to 913,643,129.67 CNY at the end of 2018, down from 1,721,507,811.49 CNY in 2017 [23]. - The company has faced continuous net losses for the last two accounting years, which may lead to a delisting risk warning as per the Shanghai Stock Exchange regulations [7]. Revenue and Profitability Trends - In Q1 2018, the company reported revenue of ¥111,926,381.39, which decreased to ¥58,672,336.96 in Q4 2018, indicating a significant decline in revenue over the year [26]. - The net profit attributable to shareholders was ¥31,614,198.05 in Q1 2018, but the company faced a loss of ¥877,945,622.59 in Q4 2018, reflecting a downward trend in profitability [26]. - The net cash flow from operating activities showed fluctuations, with a positive cash flow of ¥3,903,750.27 in Q1 and a substantial increase to ¥61,269,325.32 in Q4 2018 [26]. - The company reported non-recurring gains of ¥10,936,376.25 for the year, which included government subsidies and asset disposal gains [28]. - The total operating revenue for 2018 was 419 million yuan, a decrease of 31.31 million yuan compared to the previous year, resulting in a net loss attributable to shareholders of 808 million yuan [43]. Asset Management and Investments - The company recognized an impairment loss of 908.18 million yuan for the goodwill related to the acquisition of Nanjing Huawai, with a remaining goodwill of 173 million yuan [44]. - The company has developed multiple mature technology platforms in drug research, including chiral synthesis and controlled-release formulation technologies [40]. - The company has a low turnover rate among high-end technical personnel, ensuring a stable and strong core research team [41]. - The company plans to enhance its core competitiveness in the pharmaceutical sector by expanding research and development, technology transfer, and clinical services [48]. - The company aims to improve the profitability of traditional businesses by adjusting and transforming existing operations [48]. Market and Competitive Landscape - The company is actively engaged in innovative drug development, particularly in oncology, hypertension, and diabetes, targeting both novel and clinically validated drug targets [34]. - The company is facing challenges in its foreign trade business due to rising domestic operating costs and fluctuations in Sino-U.S. trade relations [43]. - The company plans to expand its pharmaceutical research and development capabilities, focusing on technology transfer and development income [57]. - The company faces risks related to a potential decline in R&D business due to new regulations affecting the development and transfer of "old category 3" drugs [84]. - Rising R&D costs are anticipated as the company expands its pharmaceutical services, leading to increased total costs in the medical and healthcare sectors [84]. Corporate Governance and Compliance - The company has implemented a comprehensive internal control system to strengthen supervision and mitigate financial risks [46]. - The company has maintained a strict separation from its controlling shareholder in terms of business, personnel, assets, and finances [182]. - The company has ensured timely and accurate information disclosure, adhering to regulatory requirements [184]. - The board of directors has actively participated in meetings, with attendance rates for key members being high [186]. - The company has not faced any penalties from securities regulatory authorities in the past three years [175]. Shareholder Structure and Management - The total number of ordinary shares is 400,386,394, which accounts for 100% of the shares [144]. - The top shareholder, Xinjiang Production and Construction Corps, holds 79,525,087 shares, representing 19.86% of the total shares [151]. - The company has a total of 42,962,409 shares under limited sale conditions, which will be tradable after 12 months from the issuance completion date [154]. - The company has a management salary scheme that determines the remuneration for directors and supervisors [172]. - The current board includes experienced professionals from various sectors, enhancing the company's governance [170]. Future Outlook and Strategic Initiatives - The company plans to achieve a total revenue of 3.18 billion in 2019, with 2.95 billion expected from the pharmaceutical sector [81]. - The company aims to enhance its research and development capabilities by increasing investment in biopharmaceuticals and expanding its CRO services to improve market competitiveness [80]. - The company plans to enter new markets in Europe, with an initial investment of $150 million [102]. - The company is investing $200 million in research and development for new technologies aimed at improving user experience [106]. - The company is focusing on expanding its market presence and enhancing its product offerings through strategic acquisitions in the pharmaceutical industry [80].

Financial Performance - Revenue for the first nine months reached CNY 360,517,105.98, an increase of 11.45% year-on-year[7] - Net profit attributable to shareholders was CNY 70,080,940.77, a slight increase of 0.51% compared to the previous year[7] - Basic earnings per share for the first nine months was CNY 0.1750, up by 0.52% from CNY 0.1741[7] - The weighted average return on equity increased by 0.99 percentage points to 3.99%[7] - Total operating revenue for Q3 2018 was CNY 140,482,033.05, a significant increase from CNY 65,351,741.99 in Q3 2017, representing a growth of 115.4%[28] - Net profit for Q3 2018 was CNY 16,696,837.26, down from CNY 25,565,799.34 in Q3 2017, reflecting a decrease of 34.7%[28] - The net profit attributable to the parent company for Q3 2018 was ¥16,618,749.76, compared to ¥25,622,662.14 in the previous quarter, indicating a decrease of about 35%[29] - The total comprehensive income for Q3 2018 was ¥2,033,825.77, compared to a loss of ¥640,188.53 in the same period last year, marking a turnaround[32] Cash Flow - Operating cash flow decreased by 53.17% to CNY 19,284,392.05 for the first nine months compared to the same period last year[6] - The net cash flow from operating activities is 19.28 million yuan, a decrease of 53.10% from the previous year's 41.18 million yuan, mainly due to a decrease in cash received from sales of goods and services[16] - The net cash flow from investing activities is -95.79 million yuan, a decrease of 36.24% from the previous year's -70.32 million yuan, primarily due to increased cash payments for fixed asset purchases and investments[16] - The company's cash flow from operating activities was positively impacted by a substantial increase in cash received from sales, which reached ¥98,810,153.51 compared to ¥21,674,928.69 last year[36] - Net cash flow from operating activities improved to ¥44,818,304.08, compared to a negative cash flow of ¥5,320,092.08 in the same period last year[36] - The company incurred financial expenses of ¥235,073.45 in Q3 2018, a decrease from ¥398,930.89 in the previous quarter, indicating improved cost management[32] Assets and Liabilities - Total assets increased by 4.62% to CNY 2,126,604,584.38 compared to the end of the previous year[6] - Net assets attributable to shareholders rose by 4.07% to CNY 1,791,588,752.26 year-on-year[6] - The ending balance of cash and cash equivalents is 45.61 million yuan, a decrease of 63.57% from the beginning balance of 125.19 million yuan, primarily due to the purchase of bank wealth management products and payments for equipment and construction projects[12] - The ending balance of accounts receivable is 191.61 million yuan, an increase of 82.35% from the beginning balance of 105.08 million yuan, mainly due to increased receivables from pharmaceutical research and clinical trial services[12] - The ending balance of other current assets is 52.35 million yuan, an increase of 934.11% from the beginning balance of 5.06 million yuan, primarily due to the purchase of bank wealth management products[13] - The ending balance of fixed assets is 202.44 million yuan, an increase of 81.08% from the beginning balance of 111.80 million yuan, mainly due to the transfer of construction projects to fixed assets[14] - The ending balance of accounts payable is 48.30 million yuan, an increase of 54.69% from the beginning balance of 31.22 million yuan, primarily due to the transfer of commercial acceptance bills and increased estimated costs for clinical projects[15] - Total liabilities decreased to CNY 91,525,012.90 from CNY 112,910,657.74 at the start of the year, showing a reduction of 18.9%[25] - The company's cash and cash equivalents decreased to CNY 8,903,964.13 from CNY 28,146,935.08 at the beginning of the year, a decline of 68.4%[24] Shareholder Information - The total number of shareholders reached 24,869 as of the report date[9] - The largest shareholder, Xinjiang Production and Construction Corps, holds 19.86% of the shares[10] Other Information - The company reported a government subsidy of CNY 710,753.18 for the current period[8] - The company plans to hire a professional institution to conduct goodwill impairment testing, with the work currently ongoing and uncertain outcomes[18]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥220,035,072.93, a decrease of 14.75% compared to ¥258,116,535.14 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2018 was ¥53,462,191.01, an increase of 21.22% from ¥44,102,408.20 in the previous year[18]. - The net cash flow from operating activities was ¥49,445,060.46, reflecting a growth of 25.73% compared to ¥39,327,020.90 in the same period last year[18]. - The total assets at the end of the reporting period were ¥2,101,584,132.95, representing a 3.39% increase from ¥2,032,765,005.73 at the end of the previous year[18]. - The net assets attributable to shareholders increased by 3.11% to ¥1,774,970,002.50 from ¥1,721,507,811.49 at the end of the previous year[18]. - Basic earnings per share for the first half of 2018 were ¥0.1335, up 21.25% from ¥0.1101 in the same period last year[19]. - The weighted average return on equity increased to 3.06%, up by 1.15 percentage points from 1.91% in the previous year[19]. Risks and Challenges - The company faces risks related to the expiration of a profit forecast compensation agreement with Nanjing Huawai Pharmaceutical at the end of 2018, which may affect stable operations[6]. - There is a risk of goodwill impairment if Nanjing Huawai Pharmaceutical fails to meet the profit commitments outlined in the compensation agreement[6]. Investments and R&D - The company has made significant investments in advanced R&D equipment, enhancing its pharmaceutical R&D capabilities and production capacity[36]. - The company plans to continue focusing on innovative drug research and development, particularly in oncology, hypertension, and diabetes[36]. - The company accelerated the development of new drug R&D services, with its subsidiary Ximosebo receiving CNAS certification in April 2018[35]. Market and Growth Opportunities - The market for generic drugs is expected to grow, providing opportunities for the company amid increasing approval rates for generic drug applications[26]. - The company signed 25 new R&D project orders in the first half of the year, supporting sustainable and stable development in the pharmaceutical sector[36]. - Huawai Pharmaceutical achieved revenue of 136.8355 million yuan, an increase of 52.98% year-on-year[34]. - The company's CRO service revenue increased by 52.44% year-on-year, reaching 135.4662 million yuan[35]. - Clinical service revenue surged to 36.784 million yuan, reflecting a significant increase of 1016.80% year-on-year[35]. Shareholder and Equity Information - The total number of ordinary shareholders at the end of the reporting period is 20,891[77]. - The top shareholder, Xinjiang Production and Construction Corps Sixth Division State-owned Assets Management Co., holds 79,525,087 shares, accounting for 19.86% of total shares[78]. - The company has a total of 42,962,409 restricted shares held by Zhang Xiaoqing, which will be tradable after September 25, 2018[80]. - The overall shareholder composition suggests a stable ownership structure with potential for future capital raising through the release of restricted shares[78]. Compliance and Governance - The management emphasized the importance of compliance with legal regulations in all transactions to protect shareholder interests[59]. - The company will ensure that any necessary related party transactions are conducted at market prices and in compliance with relevant laws and regulations[56]. - The company has confirmed that all major assets are legally acquired and there are no disputes regarding ownership[61]. - The company maintains compliance with national laws and regulations regarding production and operation[61]. Financial Statements and Accounting Policies - The financial statements for the half-year report were approved by the board on August 26, 2018[129]. - The company confirms that there are no significant doubts regarding its ability to continue as a going concern for the next 12 months[131]. - The financial statements are prepared based on the assumption of ongoing operations and comply with the relevant accounting standards[133]. - The company has specific accounting policies for bad debt provisions, fixed asset depreciation, and revenue recognition tailored to its operational characteristics[132]. Revenue Recognition - Revenue from the sale of goods is recognized when the significant risks and rewards of ownership have transferred to the buyer, and the amount can be reliably measured[195]. - Revenue from pharmaceutical R&D services and clinical trials is recognized using the percentage-of-completion method, based on the proportion of work completed[196]. - For services where the outcome cannot be reliably estimated, revenue is recognized based on the recoverable costs incurred, with losses recognized if the recognized revenue is less than the incurred costs[198].

Financial Performance - The company's net profit for 2017 was -521,062,090.74 CNY, with cumulative distributable profits also negative at -1,008,246,932.44 CNY, resulting in no cash dividend distribution for the year [5]. - Total revenue for 2017 decreased by 43.66% to 419,502,543.16 CNY compared to 744,574,204.61 CNY in 2016 [21]. - The net assets attributable to shareholders decreased by 24.68% to 1,721,507,811.49 CNY from 2,285,623,104.40 CNY in the previous year [21]. - The total assets of the company fell by 26.98% to 2,032,765,005.73 CNY from 2,783,933,231.33 CNY in 2016 [21]. - Basic earnings per share for 2017 were -1.4089 CNY, a decrease of 385.55% compared to 0.4934 CNY in 2016 [22]. - The company reported a net loss attributable to shareholders of 564 million RMB, marking a shift from profit to loss [55]. - The company recognized an impairment loss of 622.7 million RMB on goodwill related to the acquisition of Nanjing Huawai, as the assessed value of the 100% equity was 1.49 billion RMB, lower than the book value of 2.11 billion RMB [55]. - The company reported a significant increase in costs across various segments, with raw materials in the pharmaceutical sector rising by 204.66% compared to the previous year [78]. - The company reported a net cash flow from operating activities of -50.26 million RMB, primarily due to payments related to restructuring costs [65]. - The company achieved a significant reduction in financial expenses by 97.34%, amounting to 2.27 million RMB [63]. Operational Highlights - The company has been focusing on drug discovery and development, providing integrated solutions from drug discovery to clinical trials [34]. - The company’s business model emphasizes technology development and transfer, catering to diverse client needs through customized services [35]. - The CRO service model aims to save time and costs for pharmaceutical companies by providing specialized outsourcing services [37]. - The company is focusing on expanding its pharmaceutical R&D and clinical trial capabilities to enhance revenue streams [73]. - The company plans to focus on its core pharmaceutical business and aims to enhance its competitive strength through strategic project selection and industry chain extension [57]. - The company plans to accelerate the industrialization of research outcomes from its drug development projects [113]. Market and Industry Trends - The industry is experiencing growth due to increasing R&D investments from domestic pharmaceutical companies, while developed countries see a slowdown [40]. - The pharmaceutical research industry is expected to see significant growth opportunities due to national policies encouraging innovation and international standards [104]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings [200]. Shareholder and Governance - The company has committed to not engaging in any form of direct or indirect competition with its listed entity in the pharmaceutical research and development business after the completion of the major asset restructuring [129]. - The company will prioritize any business opportunities that may arise in the future for the listed entity under the same conditions [129]. - The company reported a commitment to avoid related party transactions and ensure market-based pricing in any necessary transactions [130]. - The company pledged not to use its shareholder status to harm the legitimate rights of other shareholders [131]. - The company will continue to adhere to relevant laws and regulations to protect shareholder rights post-transaction [131]. - The company has a commitment to transparency regarding its shareholder structure and governance [191]. Future Outlook - The company plans to implement new strategies for market expansion and product development in the upcoming fiscal year [182]. - The management has provided a positive outlook for the next fiscal year, projecting a revenue growth of 5% to 7% [200]. - The R&D budget has been increased by 10% to support the development of new technologies and products [200]. - The company aims to enhance operational efficiency, targeting a reduction in operational costs by 3% over the next year [200]. Employee and Organizational Changes - The company reduced its workforce by 20% and streamlined its organizational structure by eliminating four functional departments to enhance efficiency [58]. - The company’s employee stock ownership plan involved the subscription of 3,315,000 shares at a price of CNY 12.28 per share, representing up to 10% of the total share capital [142].

2018 年第一季度报告 公司代码：600721 公司简称：百花村 新疆百花村股份有限公司 2018 年第一季度报告 1 / 19 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 7 | 2018 年第一季度报告 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 公司负责人郑彩红、主管会计工作负责人蔡子云及会计机构负责人（会计主管人员）蔡子云 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 一、 公司基本情况 2.1 主要财务数据 3 / 19 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 2,050,408,257.25 2,032,765,005.73 0.87 归属于上市公司 股东的净资产 1,753,122,009.54 1,721,507,811.49 1 ...

Financial Performance - Operating income for the first nine months was CNY 323,468,277.13, down 21.98% year-on-year[6] - Net profit attributable to shareholders decreased by 34.41% to CNY 69,725,070.34 compared to the same period last year[6] - Basic earnings per share were CNY 0.1741, a decrease of 55.64% compared to the previous year[7] - The net profit attributable to the parent company was ¥69.73 million, a decrease of ¥36.58 million or 34.41% compared to the same period last year[15] - Net profit for the third quarter was CNY 25,565,799.34, compared to CNY 240,467,955.30 in the same period last year, reflecting a significant decrease of approximately 89%[26] - Basic earnings per share for the third quarter were CNY 0.0640, down from CNY 0.7971 in the previous year[27] - The company reported a significant reduction in management expenses, which were CNY 10,993,030.60 for the first nine months, compared to CNY 101,534,134.41 in the previous year[25] - The company reported a total loss of CNY 63,062.17 for Q3 2017, compared to a loss of CNY 361,099,959.20 in Q3 2016[30] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,758,317,640.56, a decrease of 0.92% compared to the end of the previous year[6] - The company's current assets decreased to CNY 651,735,656.31 from CNY 707,918,744.86, reflecting a decline of approximately 7.9%[20] - Total liabilities decreased to CNY 390,194,975.25 from CNY 485,518,140.93, a reduction of approximately 19.6%[21] - Total liabilities were CNY 206,460,777.54, down from CNY 270,265,076.51, indicating a reduction of approximately 24%[24] - Non-current assets totaled CNY 2,261,981,964.61, an increase from CNY 2,170,447,084.60, representing a growth of about 4%[24] Cash Flow - Net cash flow from operating activities was CNY 41,178,062.91, an increase of 177.26% compared to the same period last year[6] - Cash flow from operating activities for the first nine months of 2017 was CNY 41,178,062.91, a significant improvement from a negative cash flow of CNY 53,298,208.19 in the same period last year[33] - The net cash flow from investing activities was -¥70.32 million, a decrease of ¥38.23 million compared to the previous year[16] - The company incurred a net cash outflow of CNY 114,014,893.76 from financing activities in Q3 2017[34] - Investment activities resulted in a net cash outflow of CNY 70,318,941.71 for the first nine months of 2017[33] - The net increase in cash and cash equivalents was negative CNY 150,323,915.60, compared to negative CNY 87,884,608.02 last year[36] Shareholder Information - The total number of shareholders at the end of the reporting period was 12,537[10] - The largest shareholder, Xinjiang Production and Construction Corps, held 19.86% of the shares[10] Government Support - The company received government subsidies amounting to CNY 2,945,620.00 during the reporting period[8] Receivables and Investments - Accounts receivable increased to ¥47.90 million, up ¥25.20 million or 110.99% from the previous period, primarily due to sales received via bank acceptance bills[12] - Prepayments rose to ¥30.61 million, an increase of ¥11.89 million or 63.54%, attributed to higher prepayments for demolition compensation and purchase payments[12] - Other receivables increased to ¥3.31 million, up ¥1.16 million or 54.14%, mainly due to increased borrowing for clinical projects from Nanjing Huawai[12] - Available-for-sale financial assets reached ¥6.84 million, a significant increase of ¥5.00 million or 271.74%, due to an investment in a 9.62% stake in Xinjiang Zhongxin Agricultural E-commerce Co., Ltd.[14] - Long-term equity investments totaled ¥17.66 million, an increase of ¥12.82 million or 264.62%, primarily from an investment of ¥32.00 million in a joint venture[14]