Financial Performance - The company reported a net profit of CNY 5,913,119.37 for the year 2022, with a proposed cash dividend of CNY 0.60 per share[7]. - The total distributable profit for shareholders after accounting for legal reserves and previous undistributed profits is CNY 321,336,147.48[7]. - The company plans to allocate 10% of the net profit to statutory surplus reserves, amounting to CNY 591,311.94[7]. - The company's operating revenue for 2022 was RMB 738,019,050.08, a decrease of 6.55% compared to RMB 789,732,754.87 in 2021[25]. - The net profit attributable to shareholders for 2022 was RMB 31,486,120.69, down 58.44% from RMB 75,756,473.97 in the previous year[25]. - The basic earnings per share for 2022 was RMB 0.18, reflecting a decline of 59.09% from RMB 0.44 in 2021[27]. - The cash flow from operating activities for 2022 was RMB 40,717,546.99, a decrease of 45.32% compared to RMB 74,460,439.98 in 2021[25]. - The total assets at the end of 2022 were RMB 1,655,207,544.77, down 6.21% from RMB 1,764,814,096.10 at the end of 2021[26]. - The weighted average return on equity for 2022 was 2.38%, a decrease of 3.41 percentage points from 5.79% in 2021[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 10,691,488.19, down 79.25% from RMB 51,524,494.20 in 2021[25]. Risks and Challenges - The company faces significant risks including product price fluctuations, raw material price volatility, and high customer concentration risk[11]. - The company experienced a significant drop in sales revenue due to a decrease in the price of its main product, biotin[27]. - Sales revenue from the top five customers accounted for 21.09% of total revenue in 2022, indicating a high customer concentration risk[122]. - The company's export revenue represented 39.48% of main business income in 2022, exposing it to foreign exchange risk due to reliance on USD for transactions[122]. - The vitamin industry is facing competitive pressure due to oversupply, but the company is positioned to leverage potential opportunities in 2023[42]. Subsidiaries and Investments - The company has a 75% stake in its subsidiary, Tongliao Shengda, which is a key part of its operations[15]. - The subsidiary XinYinXiang achieved a sales increase of 18.53% and a net profit growth of 1.36% compared to the previous year[38]. - The company’s subsidiary, New Silver Elephant, reported a revenue of 350.06 million RMB and a net profit of 35.78 million RMB in 2022[115]. - The company has a diverse portfolio of subsidiaries and associated companies, enhancing its market presence and operational capabilities[135]. Research and Development - The company is actively engaged in research and development, focusing on green catalytic technology and synthetic biology to support product development and technical support[40]. - The company invested CNY 37,810,800 in R&D during the reporting period, with 28 ongoing projects and 5 patents granted, including 4 invention patents[89]. - The company holds 5 national authorized patents, including 4 invention patents, reflecting its commitment to R&D and innovation[57]. - The company has established a strong talent development system, completing the introduction of four high-level talents at the national and provincial levels in 2022[40]. Environmental Performance - The company reported a significant reduction in wastewater emissions from 307,509.938 tons in 2021 to 132,395 tons in 2022, indicating improved environmental performance[165]. - The company maintained compliance with environmental standards for air emissions, with all reported pollutants meeting regulatory requirements[165]. - The company’s solid waste generation included 990.81 tons of distillation residues and 8,227 tons of sludge in 2022, reflecting ongoing waste management efforts[165]. - The company has established a dedicated environmental management department to oversee pollution prevention and compliance with environmental regulations[185]. - The company has implemented energy-saving measures and is actively managing carbon emissions, including the use of heat recovery technology[186]. Governance and Compliance - The company emphasizes the importance of maintaining the accuracy and completeness of its financial reports, as confirmed by its auditing firm[6]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[9]. - The company has not faced any violations in decision-making procedures regarding external guarantees[9]. - The company has established a transparent performance evaluation and incentive mechanism for its senior management[127]. - The company held three shareholder meetings in 2022, approving a total of 16 proposals, including the annual report for 2021 and the allocation of surplus funds for liquidity[129]. Market Strategy and Future Plans - The company is committed to long-term development while balancing immediate shareholder interests in its profit distribution plan[7]. - The company plans to invest approximately RMB 499.87 million in the first phase of the vitamin series product and raw material drug industry upgrade project, with an expected annual production of 220 tons of biotin and 1,000 tons of folic acid upon completion[99]. - The company aims to enhance production capacity for biological preservatives due to high demand, which has led to the abandonment of some clients[116]. - The company plans to strengthen its position in the synthetic biology industry by gradually expanding its technology base[118]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 150 million allocated for potential deals[132].

2022 年第三季度报告 证券代码：603079 证券简称：圣达生物 浙江圣达生物药业股份有限公司 2022 年第三季度报告 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： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比 | 年初至报告期末 | 年初至报告期 | | --- | --- | --- | --- | --- | | | | 上年同期增 | | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 185,468,824.03 | -2.17 | 535,910,347. ...

Financial Performance - The company reported a significant increase in revenue for the first half of 2022, with total revenue reaching 500 million RMB, representing a 20% year-over-year growth[11]. - The company's operating revenue for the first half of 2022 was ¥350,441,523.13, a decrease of 10.17% compared to ¥390,135,440.81 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2022 was ¥39,932,027.45, down 16.62% from ¥47,889,762.29 year-on-year[19]. - The basic earnings per share for the first half of 2022 was ¥0.23, a decline of 17.86% from ¥0.28 in the same period last year[20]. - The company reported a significant decline in sales volume of vitamin products, leading to reduced revenue and profit metrics[21]. - The company reported a net loss of CNY 59.92 million for the period, indicating a significant decrease in profitability[183]. Market Expansion and Product Development - The company has provided a positive outlook for the second half of 2022, projecting a revenue growth of 25% based on new product launches and market expansion strategies[11]. - Research and development efforts have led to the introduction of two new products in the biopharmaceutical sector, expected to contribute an additional 50 million RMB in revenue[11]. - The company is actively pursuing market expansion, targeting a 30% increase in market share in the next fiscal year through strategic partnerships and collaborations[11]. - The company is focusing on R&D innovation and expanding its product application areas to enhance customer loyalty and market competitiveness[32]. - The company plans to focus on market expansion and new product development in the upcoming quarters[162]. Financial Position and Cash Flow - The company has committed to maintaining a strong cash position, with cash reserves of 200 million RMB, ensuring liquidity for future investments[11]. - The net cash flow from operating activities decreased by 45.44% to ¥28,477,144.10, compared to ¥52,191,787.85 in the previous year[19]. - Cash and cash equivalents decreased significantly from ¥514,747,873.78 to ¥278,152,903.15, reflecting a decline of approximately 46%[155]. - The total cash and cash equivalents at the end of the period were CNY 252,806,779.74, down from CNY 348,596,797.29 at the end of the first half of 2021, reflecting a decrease of approximately 27.4%[171]. Research and Development - The company continues to focus on the research and development of biotin and biopreservation agents, maintaining its position as a major supplier in the global market[26]. - R&D investment increased by 1.72% year-on-year, emphasizing the company's commitment to innovation and technology development[45]. - The company has received 2 national invention patents and applied for 2 additional invention patents during the reporting period[40]. Environmental Compliance and Sustainability - The company has implemented a digital transformation in its procurement management through the introduction of ERP and BI systems, enhancing cost management[31]. - The company is actively promoting a green circular economy model, focusing on the reuse of by-products and continuous technological innovation[44]. - The company has established a commitment to protect investor interests, ensuring no misleading information in its IPO prospectus[96]. - The company has committed to continuous improvement in its environmental management practices[88]. Risk Management - The company faces risks including price fluctuations in raw materials, which could impact profit margins by up to 10% if not managed effectively[5]. - The management has emphasized the importance of diversifying the supply chain to mitigate risks associated with high customer concentration, which currently stands at 60%[5]. - The company has taken steps to reduce the impact of raw material price fluctuations on its operating performance through various operational strategies[61]. Shareholder Commitments and Governance - The company has committed to long-term shareholding intentions, with plans to gradually reduce holdings only after the lock-up period, adhering to regulatory requirements[95]. - The company guarantees that it and its controlled entities will not engage in any business that competes with its subsidiaries, both domestically and internationally[100]. - The company will publicly disclose reasons for any failure to fulfill commitments and will not engage in public refinancing during such periods[125].

Financial Performance - The company achieved a net profit of ¥39,592,789.63 in 2021, with a distributable profit of ¥339,980,794.17 after accounting for reserves and previous distributions[6]. - The company's operating revenue for 2021 was approximately ¥789.73 million, a decrease of 8.95% compared to ¥867.31 million in 2020[24]. - The net profit attributable to shareholders of the listed company was approximately ¥75.76 million, down 61.63% from ¥197.44 million in the previous year[24]. - The basic earnings per share for 2021 was ¥0.44, a decrease of 62.39% from ¥1.17 in 2020[25]. - The total revenue for the company was approximately $788.50 million, a decrease of 8.34% compared to the previous year[63]. - The gross profit margin for the main business was 28.84%, which represents a decrease of 26.03 percentage points year-over-year[63]. - The company reported a significant decline in the sales revenue of its main product, biotin, which was the primary reason for the decrease in financial metrics[25]. - The company's revenue for the reporting period was 789.73 million RMB, a decrease of 8.95% compared to the previous year, primarily due to a decline in biotin product sales prices[57][61]. Dividend and Profit Distribution - A cash dividend of ¥1.40 per 10 shares (including tax) is proposed for distribution to shareholders, pending approval at the annual general meeting[6]. - In 2021, the company distributed a total profit of 59,916,135.30 CNY, with a cash dividend of 3.50 CNY per 10 shares[158]. - The company has a three-year shareholder dividend return plan for 2021-2023, which was approved in April 2021[157]. Risks and Challenges - The company faces significant risks including product price fluctuations, raw material price volatility, high customer concentration, exchange rate fluctuations, and external shocks from the pandemic[9]. - The global commodity price surge has increased production costs, impacting the overall profitability of the industry[39]. - The company is expected to face competitive pressure due to complex changes in the vitamin supply landscape in 2022[40]. - The company faces risks related to product price fluctuations due to market supply changes and raw material price volatility, which it aims to mitigate through increased environmental investment and capacity supply[122]. Market and Sales Performance - The quarterly revenue for Q4 2021 was approximately ¥210.02 million, showing a slight recovery compared to previous quarters[28]. - The sales volume of biotin increased by 30.02% year-on-year, and folic acid sales volume increased by 20.61%, marking the highest sales growth in five years[36]. - The lactic acid bacterium sales volume grew by 43.15%, with sales revenue increasing by 32.77%, while lysine sales volume surged by 90.47% and sales revenue rose by 44.93%[36]. - The domestic market achieved a main business revenue of 433 million RMB, an increase of 15.83% year-on-year, while the international market revenue was 355 million RMB, a decrease of 26.93%[57]. Research and Development - R&D investment increased by over 11% year-on-year, focusing on green catalytic technology and synthetic biology technology[37]. - The company invested ¥39,643,000 in R&D during the reporting period, with 42 ongoing projects and 6 patents granted, including 4 invention patents[92]. - The total R&D investment accounted for 5.02% of operating revenue, with no capitalized R&D expenditures[73]. - The company is focusing on technological innovation through collaboration with universities and research institutions, enhancing its competitive edge in the industry[91]. Supply Chain and Operational Efficiency - The company optimized its supply chain and production capacity, significantly increasing market share and brand influence despite challenges from raw material supply and price hikes[36]. - The company has adopted a "sales-driven production" model, optimizing procurement and production processes through digital transformation[50]. - The company is leveraging a digital supply chain and business intelligence systems to enhance decision-making and operational efficiency[51]. - The company reported a 24% reduction in logistics costs for Shengda Bio and a 13% reduction for New Silver Elephant through digital management and logistics control[37]. Environmental Responsibility - The company has established a robust framework for environmental responsibility, aligning with regulatory requirements and enhancing its operational practices[168]. - The company reported wastewater emissions of 98,519 tons in 2021, an increase from 87,334 tons in 2020, indicating a rise of approximately 13.4%[168]. - The company has implemented a comprehensive self-assessment and evaluation of its governance status, leading to improved operational awareness and governance levels[166]. - The company has established a complete wastewater treatment system that meets standards before discharging into the county's wastewater treatment plant[191]. Governance and Management - The company has maintained a governance structure that complies with relevant laws and regulations, ensuring transparency and accountability in operations[128]. - The independent directors have played a significant role in overseeing major company decisions, contributing to sound corporate governance practices[128]. - The company has established a performance evaluation and incentive mechanism for senior management, promoting transparency and fairness in management practices[128]. - The company has committed to timely and accurate information disclosure, ensuring all shareholders have equal access to company information[129].

Financial Performance - The company's operating revenue for Q1 2022 was ¥185,166,102.76, representing a decrease of 3.52% compared to the same period last year[5]. - The net profit attributable to shareholders was ¥20,799,549.32, down 11.07% year-on-year[5]. - The net profit after deducting non-recurring gains and losses was ¥14,389,995.59, a decline of 25.22% compared to the previous year[5]. - The net profit for Q1 2022 was CNY 20,395,348.28, a decrease of 7.57% compared to CNY 22,063,598.84 in Q1 2021[22]. - The total profit for Q1 2022 was CNY 23,676,663.82, down from CNY 24,882,022.77 in the same period last year, reflecting a decline of 4.84%[22]. - Operating profit for Q1 2022 was CNY 23,531,335.07, compared to CNY 24,694,798.97 in Q1 2021, indicating a decrease of 4.69%[22]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥11,335,230.05, reflecting a significant decrease of 155.70%[5]. - Cash flow from operating activities showed a net outflow of CNY -11,335,230.05 in Q1 2022, contrasting with a net inflow of CNY 20,351,680.33 in Q1 2021[25]. - Cash and cash equivalents decreased to CNY 321,156,893.90 as of March 31, 2022, from CNY 514,747,873.78 at the end of 2021, a decline of 37.5%[16]. - Cash and cash equivalents at the end of Q1 2022 totaled CNY 296,238,667.03, down from CNY 391,247,468.23 at the end of Q1 2021[26]. - The total cash outflow from investing activities was CNY 218,711,963.09 in Q1 2022, compared to CNY 168,237,709.46 in Q1 2021, representing an increase of 30.06%[25]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,799,662,110.32, an increase of 1.97% from the end of the previous year[6]. - Total assets amounted to CNY 1,799,662,110.32, an increase from CNY 1,764,814,096.10 at the end of 2021, reflecting a growth of 2.0%[19]. - Total liabilities increased to CNY 442,295,269.44 from CNY 427,842,603.50, indicating a rise of 3.2%[18]. Shareholder Information - Basic and diluted earnings per share were both ¥0.12, down 14.29% from the same quarter last year[6]. - The company had a total of 17,100 common shareholders at the end of the reporting period[11]. - The company reported a basic and diluted earnings per share of CNY 0.12 for Q1 2022, down from CNY 0.14 in Q1 2021[22]. Operational Metrics - Total revenue for Q1 2022 was CNY 185,166,102.76, a decrease of 3.9% compared to CNY 191,930,642.69 in Q1 2021[20]. - Total operating costs for Q1 2022 were CNY 167,206,511.12, down from CNY 168,618,940.20 in Q1 2021, reflecting a slight reduction of 0.84%[20]. - Gross profit margin for Q1 2022 was approximately 9.5%, compared to 12.1% in Q1 2021, indicating a decline in profitability[20]. - Accounts receivable increased to CNY 155,019,748.61 from CNY 130,682,536.43, representing an increase of 18.6%[16]. - Inventory as of March 31, 2022, was CNY 266,760,488.09, up from CNY 222,087,972.31, marking an increase of 20.1%[17]. Future Outlook - The company plans to focus on expanding its market presence and investing in new product development in the upcoming quarters[20]. Expenses - The company experienced a 122.79% increase in selling expenses, attributed to higher bonus provisions during the period[10]. - The company incurred a credit impairment loss of CNY -1,568,940.87 in Q1 2022, compared to CNY -1,013,808.98 in Q1 2021, indicating a worsening of 55%[22].

Financial Performance - The company's operating revenue for Q3 2021 was ¥189,577,266.40, a decrease of 12.41% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2021 was ¥16,081,305.40, down 67.17% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥12,864,292.50, reflecting a decline of 72.88% compared to the previous year[6] - Basic earnings per share for Q3 2021 were ¥0.09, down 68.97% year-on-year[6] - The net profit for the year-to-date period was ¥63,971,067.69, a decrease of 68.08% compared to the same period last year[5] - Total operating revenue for the first three quarters of 2021 was CNY 579,712,707.21, a decrease of 13.06% compared to CNY 666,879,888.27 in the same period of 2020[19] - Net profit for the third quarter of 2021 was CNY 59,720,628.14, a decline of 69.7% from CNY 197,048,165.72 in Q3 2020[21] - Earnings per share (EPS) for the third quarter was CNY 0.37, down from CNY 1.19 in the same quarter of the previous year[22] Cash Flow and Investments - The cash flow from operating activities for the year-to-date period was ¥76,282,066.80, showing a decrease of 69.34%[6] - Cash flow from operating activities for the first three quarters was CNY 76,282,066.80, a decrease of 69.4% compared to CNY 248,816,246.60 in the same period of 2020[25] - Investment cash inflow totaled CNY 304,590,156.75, down from CNY 360,536,090.95 in the previous year[25] - The net cash flow from investing activities was -$153,359,186.68, a significant decrease compared to $1,190,832.87 in the previous year[26] - The cash outflow from investing activities was $457,949,343.43, compared to $359,345,258.08 in the prior year[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,735,248,659.76, an increase of 2.02% from the end of the previous year[6] - Current assets totaled RMB 921,831,516.24, compared to RMB 881,145,953.09 in the previous year, reflecting a growth of approximately 4.3%[16] - Total liabilities reached RMB 410,378,611.28, up from RMB 375,803,333.30, marking an increase of approximately 9.2%[17] - Short-term borrowings increased to RMB 145,525,188.58 from RMB 115,229,518.56, reflecting a rise of about 26.3%[17] - The total cash and cash equivalents at the end of the period were $328,835,747.55, down from $494,472,658.72 year-over-year[26] Shareholder Information - The company reported a total of 18,939 common shareholders at the end of the reporting period[11] - The company's retained earnings increased to CNY 415,600,650.56, up from CNY 411,545,718.17 in the previous year[21] - Minority interests decreased to CNY 16,177,781.60 from CNY 20,428,221.15 in the same period of 2020[21] Operational Challenges - The company experienced a significant decline in profitability due to reduced sales revenue and increased costs[9] - Total operating costs increased to CNY 524,778,475.97, up 19.5% from CNY 438,888,177.67 in the previous year[19] - The company has not disclosed any new product developments or market expansion strategies in this report[14] Other Financial Metrics - The weighted average return on equity decreased to 1.24%, down 2.58 percentage points from the previous year[6] - The company reported a significant increase in accounts payable, which rose to RMB 70,061,779.05 from RMB 91,543,324.75, a decrease of approximately 23.5%[17] - Cash and cash equivalents decreased to RMB 354,458,601.75 from RMB 461,312,425.40, representing a decline of about 23.2%[15] - Accounts receivable increased to RMB 127,864,942.95 from RMB 112,883,790.15, showing an increase of approximately 13.3%[16] - Inventory rose to RMB 183,870,245.64 from RMB 167,942,379.48, indicating an increase of about 9.5%[16] - The company has not adopted the new leasing standards for the current year[27]

Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching RMB 500 million, representing a year-on-year growth of 25%[11]. - The company's operating revenue for the first half of 2021 was CNY 390,135,440.81, a decrease of 13.39% compared to CNY 450,438,696.68 in the same period last year[19]. - Net profit attributable to shareholders was CNY 47,889,762.29, down 68.37% from CNY 151,428,750.25 year-on-year[19]. - The basic earnings per share decreased to CNY 0.28, a decline of 68.89% compared to CNY 0.90 in the previous year[20]. - The company reported a total profit of RMB 50,215,314.76 for the first half of 2021, down 71.30% from RMB 175,210,123.28 in the previous year[165]. - The company experienced a significant increase in sales expenses, which totaled RMB 4,343,296.94, compared to RMB 17,434,033.55 in the first half of 2020[164]. - The company reported a net cash flow from operating activities of CNY 52,191,787.85, a decrease of 47.73% compared to CNY 99,847,808.82 in the first half of 2020[171]. - The company’s net profit for the first half of 2021 was CNY 2,055.41 million, with main business income of CNY 12,382.11 million[55]. Market and Product Development - User data indicates a growing customer base, with the number of active users increasing by 15% compared to the previous year, now totaling 1.2 million users[11]. - The company has provided a positive outlook for the second half of 2021, projecting a revenue growth of 20% to 30% based on current market trends and demand[11]. - New product development is underway, with two innovative products expected to launch by Q4 2021, aimed at expanding the product line and enhancing market competitiveness[11]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 10% market share within the next two years[11]. - The company is focused on the research and development of vitamins and biological preservatives, positioning itself as a key supplier in the industry[26]. - The company has achieved significant growth in its food additive market share, with lactic acid bacteria sales increasing by 32.15% and ε-polylysine sales soaring by 668.86%[37]. Financial Position and Assets - The company maintains a strong financial position, with a current ratio of 2.5, indicating good short-term financial health[11]. - Total assets increased by 5.30% to CNY 1,791,089,026.90 compared to CNY 1,700,868,888.94 at the end of the previous year[19]. - The company’s total liabilities reached CNY 480,309,465.68, compared to CNY 375,803,333.30, marking a growth of approximately 27.8%[157]. - Shareholders' equity decreased to CNY 1,310,779,561.22 from CNY 1,325,065,555.64, a decline of about 1.1%[157]. - Cash and cash equivalents amounted to CNY 259,341,660.95, down from CNY 282,849,534.57, representing a decrease of approximately 8.3%[160]. Research and Development - The management emphasizes the importance of innovation and R&D, allocating 15% of total revenue to research and development activities[11]. - R&D expenses increased by 19.09% to CNY 19.53 million, reflecting the company's commitment to innovation and product development[46]. - The company has filed for 3 national invention patents and 2 utility model patents during the reporting period, showcasing its commitment to research and development[40]. Environmental Compliance and Sustainability - The company reported a total wastewater discharge of 114,400 m³ per year, with a chemical oxygen demand (COD) of 6.64 tons and ammonia nitrogen of 1.72 tons[67]. - The company’s wastewater treatment capacity includes 1,000 tons/day for Saintda Biological, 1,500 tons/day for New Silver Elephant, and 2,700 tons/day for Tongliao Saintda[65]. - The company has implemented a self-monitoring scheme for emissions, ensuring compliance with environmental standards[72]. - The company reported a commitment to sustainability by increasing the frequency and accuracy of environmental assessments[74]. - The company is committed to sustainable development, focusing on pollution prevention and continuous improvement in environmental management systems[88]. Strategic Planning and Risk Management - The company has identified key risks, including raw material price fluctuations, which could impact profit margins if not managed effectively[5]. - A strategic acquisition is planned, with negotiations ongoing for a potential target company that could enhance the company's product offerings and market reach[11]. - The company plans to enhance its R&D efforts and expand into new markets to mitigate risks associated with product price volatility and competition[56]. Shareholder and Corporate Governance - The company has made long-term commitments related to avoiding competition with peers and ensuring compliance with regulations regarding shareholding and reduction intentions[92]. - The company guarantees that it and its controlled entities will not engage in any business that competes directly or indirectly with its main operations[100]. - The company will ensure that any share reductions after the lock-up period will be announced three trading days in advance[117]. - The company has committed to stabilizing its stock price by implementing measures such as share buybacks if the stock price falls below the audited net asset value per share for 20 consecutive trading days[119].

Financial Performance - Net profit attributable to shareholders decreased by 62.53% to CNY 23,389,027.38 year-on-year[6] - Operating revenue declined by 2.34% to CNY 191,930,642.69 compared to the same period last year[6] - Basic earnings per share dropped by 63.16% to CNY 0.14[6] - Total revenue for Q1 2021 was CNY 121,169,804.28, a decrease of 18.2% compared to CNY 148,186,854.29 in Q1 2020[25] - Net profit for Q1 2021 was CNY 22,063,598.84, down 63.5% from CNY 60,562,048.65 in Q1 2020[24] - Total operating profit for Q1 2021 was CNY 24,694,798.97, a decrease of 66.5% from CNY 73,636,310.57 in Q1 2020[23] - The total profit for Q1 2021 was CNY 24,882,022.77, down 65.8% from CNY 72,760,841.78 in Q1 2020[23] Assets and Liabilities - Total assets increased by 7.31% to CNY 1,825,224,398.22 compared to the end of the previous year[6] - Total liabilities increased to CNY 348,181,410.76 in Q1 2021, up from CNY 217,432,800.76 in Q1 2020, reflecting a significant growth of 60.2%[20] - Owner's equity totaled CNY 1,269,768,963.92 as of March 31, 2021, compared to CNY 1,256,314,185.45 at the end of 2020, indicating a growth of 1.0%[20] - The total liabilities to equity ratio increased to 0.27 in Q1 2021 from 0.17 in Q1 2020, indicating a higher leverage[20] Cash Flow - Net cash flow from operating activities improved to CNY 20,351,680.33, compared to a negative cash flow of CNY -3,308,022.72 in the previous year[6] - The company reported cash received from sales and services of ¥189,584,244.37, an increase from ¥128,081,426.61 in the previous year, representing a growth of approximately 48%[28] - The company’s cash flow from operating activities totaled ¥205,978,539.97, up from ¥135,430,816.72 in the previous year, reflecting an increase of about 52%[28] - Cash flow from financing activities generated a net cash inflow of ¥80,405,801.71, compared to ¥45,104,274.99 in the previous year, marking an increase of approximately 78%[29] Investments and Expenses - Research and development expenses increased by 77.92% to 8,240,559.01 RMB from 4,631,489.97 RMB, indicating a significant investment in new projects[12] - The company plans to continue investing in R&D and expanding its market presence, as indicated by the increase in R&D expenses and sales growth[12] - Operating costs rose by 52.85% to 137,853,735.32 RMB, primarily due to increased sales volume and transportation costs included in the main business costs[12] - The company invested ¥150,000,000.00 in new projects, a substantial increase from ¥10,200,000.00 in the same quarter last year, reflecting a growth of over 1,370%[31] Shareholder Information - Total number of shareholders reached 18,167 at the end of the reporting period[9] - The largest shareholder, Zhejiang Shengda Group Co., Ltd., holds 26.51% of shares, with 6,300,000 shares pledged[9] Tax and Refunds - Cash received from tax refunds surged by 414.18% to 9,135,115.35 RMB, compared to 1,776,624.29 RMB in the previous year[12] - The company reported a 76.90% decrease in income tax expenses, amounting to 2,818,423.93 RMB, down from 12,198,793.13 RMB in the previous year[12]

Financial Performance - The company achieved a net profit of ¥185,934,043.74 for the year 2020, with a proposed cash dividend of ¥3.50 per 10 shares[5]. - The total distributable profit for shareholders amounted to ¥364,263,418.80 after accounting for legal reserves and previous undistributed profits[5]. - The company's operating revenue for 2020 was CNY 867,314,752.90, representing a 67.06% increase compared to CNY 519,149,812.48 in 2019[24]. - Net profit attributable to shareholders reached CNY 197,438,340.00, a significant increase of 319.81% from CNY 47,030,263.35 in the previous year[24]. - The net profit after deducting non-recurring gains and losses was CNY 209,677,853.43, up 435.31% from CNY 39,169,538.73 in 2019[24]. - Cash flow from operating activities amounted to CNY 333,201,875.02, an increase of 469.05% compared to CNY 58,553,623.65 in 2019[24]. - Total assets at the end of 2020 were CNY 1,700,868,888.94, a 10.98% increase from CNY 1,532,589,639.49 at the end of 2019[24]. - Net assets attributable to shareholders increased to CNY 1,304,637,334.49, reflecting a 47.61% growth from CNY 883,814,552.72 in 2019[24]. - Basic earnings per share increased by 290.00% to CNY 1.17 in 2020 compared to CNY 0.30 in 2019[25]. - Diluted earnings per share rose by 277.42% to CNY 1.17 in 2020 from CNY 0.31 in 2019[25]. Market and Industry Trends - In 2020, China's food additive industry saw a compound annual growth rate (CAGR) of 6.3% in production volume, increasing from 9.47 million tons in 2014 to 12 million tons in 2018[40]. - The sales revenue of the food additive industry grew from 93.5 billion yuan to 116 billion yuan during the same period, reflecting a CAGR of 6.0%[40]. - The demand for biological preservatives is driven by the stable growth of the downstream food industry, which includes meat, dairy, and convenience foods[41]. - The market for biological preservatives is expected to grow significantly as traditional chemical preservatives face increasing regulatory scrutiny and consumer preference shifts towards "no chemical preservatives" products[42]. - The application range of biological preservatives is expanding, with only 25% of the potential market currently utilized, indicating significant growth opportunities[43]. - The vitamin market in food and beverage applications is growing at an estimated rate of 5%, outpacing the pharmaceutical (2%-3%) and feed (1%-2%) sectors[44]. - The health supplement market in China has grown from 69.5 billion yuan in 2010 to 178.5 billion yuan in 2019, with a CAGR of approximately 11.05%[45]. - The functional beverage market is projected to reach 175.6 billion yuan by 2024, driven by increasing consumer health awareness[46]. - China's feed production increased from 64.2 million tons in 2005 to 293.55 million tons in 2020, with a CAGR of 9.97%[48]. Risks and Challenges - The company faces significant risks including product price fluctuations, raw material price volatility, high customer concentration, and exchange rate fluctuations[8]. - The company’s sales to its top five customers accounted for 31.12% of total revenue in 2020, indicating a high customer concentration risk[131]. - The company is implementing measures to mitigate raw material price fluctuations, which significantly impact production costs[130]. - The company’s export revenue constituted 56.53% of its main business income in 2020, exposing it to foreign exchange risks due to reliance on USD for transactions[131]. Research and Development - The company has a strong focus on R&D, with advanced technologies in the extraction and production of biopreservation agents and vitamins, leading to improved production efficiency and reduced costs[58][60]. - The company is currently developing new technologies for vitamin B5 and folic acid, both at the small trial stage[98]. - The company is conducting research on a new high-purity biotin synthesis route, currently in the medium trial stage[98]. - The company received 4 authorized invention patents during the reporting period, enhancing its innovation capabilities[100]. - The company maintains strategic partnerships with research institutions to drive technological innovation and product development[97]. Production and Capacity - The company achieved a production capacity of 1,000 tons of lactic acid bacteria in 2020, which has been completed and put into use[106]. - The production capacity utilization rates for biotin, folic acid, lactic acid bacteria, and natamycin were 65.03%, 59.02%, 49.50%, and 68.79% respectively[108]. - The company is expanding its production capacity for biopreservation agents to meet market demand, as it has been operating at full capacity and had to turn away some customers[120]. - The company has established a supplier reserve mechanism to ensure stable raw material supply amidst market fluctuations[109]. Profit Distribution and Shareholder Returns - The company has established a shareholder return plan for the next three years (2018-2020), prioritizing cash dividends, with a minimum cash distribution of 20% of the distributable profit for the year[134]. - In 2020, the company distributed a cash dividend of 3.50 RMB per 10 shares, with a payout ratio of 30.35% of the net profit attributable to ordinary shareholders[137]. - The company plans to adopt a differentiated cash dividend scheme based on its development stage and capital expenditure arrangements, with a minimum cash dividend ratio of 80% for mature stages without major expenditures[135]. - The company has not proposed a cash profit distribution plan for the reporting period despite having positive distributable profits[139]. - The company has a clear and structured decision-making process for profit distribution, ensuring the protection of minority shareholders' rights[136]. Corporate Governance and Compliance - The company has committed to avoiding any competition with its subsidiaries and will not engage in any business that competes directly or indirectly with its main operations[144]. - The company has established a 36-month lock-up period for shares held by major shareholders post-IPO, with automatic extensions under certain conditions[167]. - The company will ensure that any business opportunities that compete with its operations will be reported and offered to the company[188]. - The company will publicly explain any failure to fulfill its commitments regarding share reduction and apologize to shareholders[177]. - The company has retained Tianjian Accounting Firm as its auditor for the 2020 fiscal year, with an audit fee of 1 million RMB[194]. Related Party Transactions - The company will not engage in public refinancing if it fails to fulfill its commitments[185]. - The company has committed to avoiding unnecessary related party transactions during the period of actual control[190]. - The total expected amount for related party transactions in 2020 is 18.45 million RMB, with actual expenses incurred totaling 10.3739 million RMB[197]. - The company has no major litigation or arbitration matters reported for the current year[195]. - The company reported no significant changes in related party transactions during the fiscal year 2020[200].

Financial Performance - Net profit attributable to shareholders rose by 348.80% to CNY 200,406,148.72 for the first nine months of the year[6] - Operating revenue for the first nine months increased by 78.35% to CNY 666,879,888.27 compared to the same period last year[6] - Basic earnings per share reached CNY 1.19, a 325.00% increase from the previous year[7] - The weighted average return on equity improved to 16.85%, up 11.4 percentage points from the previous year[7] - The net profit increased to ¥433,106,931.26, a 75.08% rise from ¥247,374,121.78 year-on-year[12] - Total operating revenue for Q3 2020 reached ¥216,441,191.59, a 76.0% increase compared to ¥122,994,796.80 in Q3 2019[25] - Net profit for Q3 2020 was ¥47,089,756.50, representing a 450.5% increase from ¥8,541,744.68 in Q3 2019[27] - The profit before tax for Q3 2020 was ¥55,714,612.89, up from ¥11,538,743.21 in Q3 2019[26] - The company reported a total profit of ¥53.04 million in Q3 2020, compared to ¥1.57 million in Q3 2019, representing an increase of approximately 3265.5%[31] Cash Flow - Cash flow from operating activities surged by 950.43% to CNY 248,816,246.60 year-to-date[6] - The total operating cash inflow for the first three quarters of 2020 was ¥644.28 million, up from ¥415.86 million in the same period of 2019, reflecting a growth of about 55%[34] - The net cash flow from operating activities for Q3 2020 was ¥248.82 million, a significant increase from ¥23.69 million in Q3 2019, marking an increase of approximately 949.5%[35] - The cash flow from investment activities in the first three quarters of 2020 was ¥1.19 million, a recovery from a negative cash flow of ¥96.71 million in the same period of 2019[35] - The company incurred a net cash outflow from investment activities of -¥12,131,644.06 in the first three quarters of 2020, an improvement from -¥148,770,337.68 in the same period of 2019[36] - The company’s cash flow from operating activities showed a strong performance, with cash inflows significantly exceeding cash outflows, indicating robust operational efficiency[36] Assets and Liabilities - Total assets increased by 9.09% to CNY 1,671,956,148.57 compared to the end of the previous year[6] - The total amount of other receivables increased by 324.52% to ¥2,851,731.08, primarily due to increased deposits and guarantees[12] - Total liabilities decreased by 43.33% to ¥43,112,817.21, mainly due to the settlement of certain acceptances[12] - Total liabilities decreased to ¥339,814,639.68 from ¥620,880,738.09, a reduction of approximately 45.3%[19] - Total assets as of the end of Q3 2020 amounted to ¥1,472,969,396.57, an increase from ¥1,293,960,278.57 at the end of Q3 2019[23] - Total liabilities as of Q3 2020 were ¥207,295,263.39, down from ¥446,964,578.63 in Q3 2019[23] - The company’s total liabilities included short-term borrowings of ¥105,795,388.89 and accounts payable of ¥86,195,080.38 as of Q3 2020[40] - The total current liabilities included short-term borrowings of CNY 75,753,497.22 and accounts payable of CNY 18,278,225.66[45] Shareholder Information - The number of shareholders totaled 18,501 at the end of the reporting period[9] - Shareholders' equity increased to ¥1,332,141,508.89 from ¥911,708,901.40, indicating a growth of about 46.2%[20] - The company reported a total equity of ¥1,265,674,133.18 as of Q3 2020, compared to ¥846,995,699.94 in Q3 2019[23] - The company’s total equity increased by CNY 846,995,699.94, reflecting a stable financial position[46] Research and Development - Research and development expenses rose to ¥26,533,336.97, marking a 43.88% increase from ¥18,440,715.29 in the previous year[13] - Research and development expenses for Q3 2020 were ¥10,135,669.80, an increase from ¥8,277,832.20 in Q3 2019[26] - Research and development expenses for Q3 2020 were ¥5.61 million, slightly up from ¥5.54 million in Q3 2019, showing a marginal increase of about 1.3%[30] Future Plans - The company plans to continue its market expansion and product development strategies in the upcoming quarters[11] - The company plans to expand its market presence and invest in new product development to drive future growth[20] - The company has implemented new strategies to enhance operational efficiency and reduce costs, contributing to improved financial performance[20]