证券代码：603351 证券简称：威尔药业 公告编号：2023-060 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 9 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 81,209,729 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 59.9429 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，吴仁荣先生主持。会议采用现场投票与网 (一) 股东大会召开的时间：2023 年 11 月 16 日 (二) 股东大会召开的地点：南京市玄武区苏宁大道 64 号徐庄软件园研发五区 5 号楼三楼会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 络投票相结合的表决方式。本次会议的召集、召开程序及表决方式符合《公司法》、 《公司章程》等法律、法规及规范性文件的规定。 南京威尔药业集团股份有限公司 2023 年第三次临时股东大会决议公告 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 ...

PARTNERS 司仁律师事务所 关于南京威尔药业集团股份有限公司 2021 年 限 制 性 股 票 激 励 计 划 之 部分限制性股票回购注销实施的 法律意见书 苏 同 律 证 字 (2023) 第 【 338】 号 南 京 市 建 邺 区 贤 坤 路 江 岛 智 立 方 Ｃ 座 ４ 层 邮 编： 210019 电话： +86 25-83304480 传真： +86 25-83329335 威尔药业 2021 年限制性股票激励计划 法律意见书 江苏世纪同仁律师事务所 关于南京威尔药业集团股份有限公司 2021 年限制性股票激励计划之部分限制性股票回购注销实施的 法律意见书 苏同律证字(2023)第【338】号 致:南京威尔药业集团股份有限公司 根据《中华人民共和国公司法》(以下简称"《公司法》")、《中华人民共 和国证券法》(以下简称"《证券法》")《上市公司股权激励管理办法》(以下 简称"《管理办法》")等法律、法规及规范性文件以及《南京威尔药业集团股 份有限公司章程》(以下简称"《公司章程》")和《南京威尔药业集团股份有 限公司 2021 年限制性股票激励计划(草案)》(以下简称"《激励计划(草案)》" ...

证券代码：603351 证券简称：威尔药业 公告编号：2023-059 南京威尔药业集团股份有限公司 关于股权激励限制性股票回购注销实施的公告 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。 重要内容提示： 回购注销原因 根据《公司 2021 年限制性股票激励计划》的规定，激励对象因其他原因身故的， 在情况发生之日，激励对象已获授但尚未解除限售的限制性股票不得解除限售，由 公司回购注销。公司一名激励对象因意外身故，不再满足激励条件，因此，公司需 回购注销前述人员已获授但尚未解除限售的限制性股票。 本次注销股份的有关情况 | 回购股份数量 | | 注销股份数量 | | | | 注销日期 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 39,300 | 股 | 39,300 | 股 | 2023 | 年 | 11 | 月 | 20 | 日 | 一、本次回购注销相关事项的批准、授权与信息披露 1、2021 年 3 月 10 日，公司 ...

| 信念 中和合分析师审 含 版 北京市东城区 朝阳门 北大街 联系电话: +86 (010) 6554 2288 | | | --- | --- | | 8 号富华大厦 A 座 9 层 | telephone: +86 (010) 6554 2288 | | 9/F, Block A, Fu Hua Mansion, No.8, Chaoyangmen Beidajie, ShineWing | | | Dongcheng District, Beijing, 传真: | +86 (010) 6554 7190 | | certified public accountants 100027, P.R.China | facsimile: +86 (010) 6554 7190 | 关于南京威尔药业集团股份有限公司向不特定对象发行 可转换公司债券申请文件的审核问询函的专项说明 XYZH/2023NJAA1F0086 上海证券交易所： 关于南京威尔药业集团股份有限公司 向不特定对象发行可转换公司债券 申请文件的审核问询函的专项说明 信永中和会计师事务所（特殊普通合伙） 贵所于 2023 年 9 月 8 日出具的 ...

南京威尔药业集团股份有限公司 向不特定对象发行可转换公司债券申请文件的审核问询函的回复 股票简称：威尔药业 股票代码：603351 南京威尔药业集团股份有限公司 与 中国银河证券股份有限公司 关于南京威尔药业集团股份有限公司 向不特定对象发行可转换公司债券申请文件的 审核问询函的回复 （修订稿） 保荐机构（主承销商） 北京市丰台区西营街 8 号院 1 号楼 7 至 18 层 101 二〇二三年十一月 7-1-1 南京威尔药业集团股份有限公司 向不特定对象发行可转换公司债券申请文件的审核问询函的回复 上海证券交易所： 贵所 2023 年 9 月 8 日出具的《关于南京威尔药业集团股份有限公司向不特 定对象发行可转换公司债券申请文件的审核问询函》（上证上审（再融资）〔2023〕 650 号）（以下简称"问询函"）已收悉，中国银河证券股份有限公司作为保荐人 （主承销商）（以下简称"保荐机构"或"保荐人"），与南京威尔药业集团股份 有限公司（以下简称"公司"或"发行人"）、江苏世纪同仁律师事务所（以下简 称"申报律师"）、信永中和会计师事务所（特殊普通合伙）（以下简称"申报会 计师"）对问询函所列问题认真进行了逐项落 ...

江 苏 世 纪 同 仁 律 师 事 务 所 关 于 南 京 威 尔 药 业 集 团 股 份 有 限 公 司 向 不 特 定 对 象 发 行 可 转 换 公 司 债 券 的 补 充 法 律 意 见 书 （ 二 ） 南京市建邺区贤坤路江岛智立方 C 座 4 层 邮编： 2 10019 电话： + 8 6 2 5 - 83304480 传真： + 8 6 2 5 - 8 3 3 2 9 3 3 5 威尔药业向不特定对象发行可转债 补充法律意见书（二） 江苏世纪同仁律师事务所 关于南京威尔药业集团股份有限公司 向不特定对象发行可转换公司债券的 补充法律意见书（二） 致：南京威尔药业集团股份有限公司 江苏世纪同仁律师事务所（以下简称"本所"）接受南京威尔药业集团股份有限公 司（以下简称"发行人"、"公司"或"威尔药业"）的委托，担任公司本次向不特定 对象发行可转换公司债券（以下简称"本次发行"）的专项法律顾问，就公司本次发行 事宜出具了"苏同律证字 2023 第[264]号"《江苏世纪同仁律师事务所关于南京威尔药 业集团股份有限公司向不特定对象发行可转换公司债券的法律意见书》（以下简称"法 律意见书"）和《江苏世纪同仁 ...

Financial Performance - The company's operating revenue for Q3 2023 was ¥305,709,375.29, representing a year-on-year increase of 16.30%[3] - The net profit attributable to shareholders for Q3 2023 was ¥24,885,107.89, an increase of 39.89% compared to the same period last year[3] - The net cash flow from operating activities for Q3 2023 was ¥44,551,495.30, up 43.65% year-on-year[3] - The basic earnings per share for Q3 2023 was ¥0.19, reflecting a 46.15% increase compared to the previous year[4] - The weighted average return on equity for Q3 2023 was 1.64%, an increase of 0.38 percentage points compared to the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2023 was ¥24,789,078.21, up 52.36% year-on-year[3] - The total revenue for the third quarter of 2023 was 83,796,714.03 CNY, a decrease from 88,024,122.73 CNY in the same period last year, representing a decline of approximately 2.6%[17] - The net profit for the third quarter of 2023 was 75,979,850.02 CNY, down from 77,248,178.32 CNY year-over-year, indicating a decrease of about 1.6%[18] - The operating profit for the third quarter was 83,948,045.08 CNY, compared to 88,142,528.77 CNY in the previous year, reflecting a decline of approximately 4.9%[17] Assets and Liabilities - Total assets at the end of Q3 2023 reached ¥2,292,504,889.92, marking a 7.22% increase from the end of the previous year[4] - As of September 30, 2023, current assets totaled CNY 609,374,210.67, an increase from CNY 470,285,342.62 at the end of 2022, reflecting a growth of approximately 29.5%[13] - Non-current assets totaled CNY 1,683,130,679.25 as of September 30, 2023, slightly up from CNY 1,667,874,751.61 at the end of 2022, showing a growth of about 0.9%[14] - Total liabilities increased to CNY 732,743,578.20 from CNY 655,756,145.87, representing an increase of approximately 11.7%[15] - The company's equity attributable to shareholders rose to CNY 1,550,710,233.48 from CNY 1,480,291,808.26, indicating an increase of about 4.7%[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,108[9] - Major shareholders include Wu Renrong, holding 18,521,981 shares, representing 13.67% of the total shares[9] Cash Flow and Investment Activities - The cash flow from operating activities for the first nine months of 2023 was 55,567,467.81 CNY, an increase from 40,452,488.32 CNY in the same period last year, representing a growth of approximately 37.4%[20] - The total cash inflow from operating activities for the first nine months of 2023 was 617,267,798.70 CNY, compared to 611,182,826.03 CNY in the same period last year, showing a slight increase[20] - The net cash flow from investment activities was -51,549,090.29 CNY, indicating a significant outflow compared to the previous period's -175,558,816.01 CNY[21] - Cash inflow from financing activities totaled 365,339,633.34 CNY, with a net cash flow of 68,540,370.35 CNY, showing an increase from 133,100,822.14 CNY in the prior period[21] - The company reported a net increase in cash and cash equivalents of 73,427,100.98 CNY, contrasting with a decrease of -686,722.80 CNY in the previous period[21] - The ending balance of cash and cash equivalents reached 173,254,720.00 CNY, up from 65,576,292.39 CNY at the end of the last period[21] - The company received 9,160,000.00 CNY from minority shareholders as part of investment activities[21] - Total cash outflow for investment activities was 56,209,960.36 CNY, compared to 231,825,817.66 CNY in the previous period[21] - The cash paid for the acquisition of fixed assets and other long-term assets was 53,159,960.36 CNY[21] Expenses - The company reported a decrease in management expenses, contributing to the increase in net profit for the period[7] - Research and development expenses increased to 40,564,145.19 CNY in Q3 2023, up from 36,992,312.72 CNY in Q3 2022, marking an increase of about 15.5%[17] - The total operating expenses for Q3 2023 were 602,966,773.68 CNY, slightly up from 601,266,654.30 CNY in Q3 2022[17] - The tax expenses for Q3 2023 were 7,816,864.01 CNY, down from 10,775,944.41 CNY in the previous year, indicating a decrease of about 27.2%[17] - The company reported a decrease in management expenses to 76,213,300.26 CNY in Q3 2023 from 105,468,858.43 CNY in Q3 2022, a reduction of approximately 27.7%[17] Accounting Standards - The report indicates that the company is not applying new accounting standards or interpretations for the current year[22]

Financial Performance - The company's operating revenue for the first half of 2023 was approximately ¥522.97 million, a decrease of 11.08% compared to ¥588.11 million in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2023 was approximately ¥53.39 million, down 12.14% from ¥60.76 million in the previous year[20]. - The basic earnings per share for the first half of 2023 was ¥0.39, reflecting a decline of 13.33% compared to ¥0.45 in the same period last year[20]. - The net profit after deducting non-recurring gains and losses was approximately ¥52.99 million, a decrease of 12.85% from ¥60.81 million in the same period last year[20]. - The company's operating revenue for the reporting period was CNY 522.97 million, a decrease of 11.08% year-on-year[33]. - The net profit attributable to shareholders was CNY 53.39 million, down 12.14% compared to the previous year[33]. - Sales volume of synthetic lubricating base oil increased by 2.87% year-on-year, while sales revenue decreased by 9.44% due to a significant drop in raw material prices[35]. - Sales volume of pharmaceutical excipients decreased by 4.83%, with sales revenue declining by 14.87% due to reduced prescription demand and inventory issues among pharmaceutical companies[36]. - The company reported a net loss of CNY 40,643,529.60 during the period[152]. - The comprehensive income for the period shows a decrease of CNY 4,742,006.15[152]. Cash Flow and Assets - The net cash flow from operating activities increased by 16.72% to approximately ¥11.02 million, compared to ¥9.44 million in the previous year[20]. - The total assets as of June 30, 2023, were approximately ¥2.22 billion, an increase of 3.99% from ¥2.14 billion at the end of the previous year[20]. - The net cash flow from operating activities for the first half of 2023 was ¥17,595,448.51, a significant improvement compared to a net outflow of ¥22,110,236.59 in the same period of 2022, representing a turnaround of approximately 179.5%[139]. - The total assets amounted to RMB 2,223,489,783.79, an increase from RMB 2,138,160,094.23 at the end of 2022, representing a growth of approximately 4.9%[123]. - Current assets totaled RMB 526,523,896.74, up from RMB 470,285,342.62, indicating a growth of about 11.97%[122]. - The company's cash and cash equivalents increased to RMB 117,441,106.10 from RMB 99,827,619.02, reflecting a rise of approximately 17.1%[121]. - Total liabilities reached RMB 706,930,982.11, up from RMB 655,756,145.87, which is an increase of around 7.9%[123]. Research and Development - R&D expenses amounted to CNY 25.41 million, an increase of 3.88% year-on-year, representing 4.86% of operating revenue[38]. - The company is investing in research and development to meet the evolving demands of the lubricating oil market, particularly in the context of carbon neutrality goals[29]. - The company has received 9 patent applications and 5 authorized patents during the reporting period, reflecting its commitment to innovation[38]. - The company's research and development expenses increased to approximately ¥1.97 million in the first half of 2023, compared to ¥1.06 million in the same period of 2022, reflecting a focus on innovation[133]. Market and Industry Trends - The pharmaceutical industry is experiencing significant growth, with over 500 new policies introduced, impacting the demand for pharmaceutical excipients[26]. - The company focuses on the development of high-safety, multifunctional pharmaceutical excipients and synthetic lubricating base oils, leveraging core technologies such as precise polymerization and directional synthesis[25]. - The demand for synthetic lubricating base oils is increasing due to the growth of new energy sectors, including wind and solar power, which require specialized lubricants[30]. - The domestic market for pharmaceutical excipients is facing pressure to reduce costs due to government policies promoting price reductions in raw materials[26]. - The lubricating oil industry is experiencing a shift towards quality competition, driven by stricter regulations and the need for high-performance products[27]. - The pharmaceutical excipients market is expected to undergo consolidation, with increased industry concentration and competition among specialized large manufacturers and internationally recognized companies[47]. Risks and Challenges - The company faces risks in the lubricant industry due to global economic downturns, domestic demand declines, and overcapacity, which may impact profitability[47]. - The company faces significant risks in product and technology development due to the gap in product and service levels compared to advanced countries, which may adversely affect operational performance if new products fail to gain market acceptance[49]. - The company is exposed to risks related to raw material supply and price fluctuations, particularly for key chemicals like ethylene oxide and propylene oxide, which are closely tied to oil prices[51]. - The company acknowledges the risk of environmental and safety production issues, which could lead to increased operational costs if regulatory requirements become more stringent[51]. Environmental Management - The company has passed the ISO14001 environmental management system certification, indicating effective environmental management practices[70]. - The company has implemented various pollution control facilities, with treatment capacities ranging from 1,000 m³/h to 20,000 m³/h, all operating normally during the reporting period[64]. - The company has installed online monitoring equipment for pollutants at discharge points, ensuring compliance with environmental standards[69]. - The company has revised its emergency response plans for environmental incidents in February 2023, ensuring preparedness for potential incidents[68]. Shareholder and Governance - The company has not proposed any profit distribution or capital reserve increase for the half-year period, indicating a focus on reinvestment rather than shareholder returns[58]. - The company has experienced management changes, with several independent directors and executives resigning and new appointments made, which may impact governance and strategic direction[57]. - The company will ensure compliance with relevant laws and regulations regarding share transfers and buybacks[82]. - The controlling shareholders committed to avoid any competitive business activities with the company's main operations for a period of three years[101]. Financial Reporting and Compliance - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations in the next 12 months[163]. - The accounting policies and estimates include revenue recognition, inventory measurement, and R&D expense capitalization[164]. - The group recognizes expected credit losses based on the risk of default, with the loss provision calculated as the present value of the difference between all contractual cash flows and expected cash flows[190].

Financial Performance - In 2022, Nanjing Well Pharmaceutical Group achieved a net profit attributable to shareholders of 95.03 million RMB, a decrease of 6.26% compared to 2021[5]. - The company's total revenue for 2022 was approximately 1.11 billion RMB, reflecting a year-on-year increase of 6.59%[22]. - The net profit attributable to shareholders was CNY 95.03 million, a decrease of 6.26% compared to the previous year[33]. - The company reported a net profit of 92.06 million RMB after deducting non-recurring gains and losses, down 6.56% from the previous year[22]. - The company reported basic earnings per share of CNY 0.72, down 5.26% from CNY 0.76 in 2021[23]. - The diluted earnings per share also decreased to CNY 0.71, a decline of 6.58% from the previous year[23]. - The weighted average return on equity was 6.64%, down from 7.63% in 2021, reflecting a decrease of 0.99 percentage points[23]. - The gross profit margin decreased to 27.34%, down by 1.16 percentage points compared to the previous year[55]. - The company achieved a net profit of 300 million RMB, an increase of 20% compared to the previous year[123]. Assets and Liabilities - As of December 31, 2022, the total assets of the company reached approximately 2.14 billion RMB, marking a 16.11% increase from the previous year[22]. - The net assets attributable to shareholders at the end of 2022 were approximately 1.48 billion RMB, up 7.06% from 2021[22]. - The company's short-term borrowings increased by 110.55% to 360,453,327.94 CNY, primarily due to new bank loans[62]. - The total remuneration for the company's directors and senior management during the reporting period amounted to CNY 559.86 million, with no changes in shareholdings reported[122]. Cash Flow - The net cash flow from operating activities for 2022 was approximately 108.99 million RMB, a significant recovery from a negative cash flow in 2021[22]. - The company reported a net cash flow from operating activities of CNY 108,989,026.49, a significant improvement from a negative cash flow in the previous year[52]. - The cash and cash equivalents increased by 33,564,603.83 CNY, reversing a previous decline of 9,295,502.68 CNY[61]. Research and Development - In 2022, the company's R&D expenses amounted to 53.87 million yuan, representing a year-on-year increase of 29.93%, accounting for 4.85% of operating revenue[39]. - The company has 32 ongoing R&D projects, including 4 raw material drug projects, with 10 new projects initiated in 2022[39]. - The company is actively collaborating with pharmaceutical companies to accelerate the R&D of active pharmaceutical ingredients and formulations[36]. - The company has established a provincial-level engineering technology research center for water-soluble pharmaceutical excipients, enhancing its R&D capabilities[68]. - The company reported a significant increase of 201.80% in R&D investment for glycerol ester series products compared to the previous year[74]. Market and Sales - The sales volume of synthetic lubricating base oil increased by 7.42% year-on-year, while sales revenue grew by 1.30%[34]. - The sales volume of pharmaceutical excipients increased by 29.73% year-on-year, with sales revenue rising by 18.87%[35]. - The revenue from pharmaceutical excipients (non-injection) was CNY 197.29 million, with a gross profit margin of 38.04%[55]. - The revenue from the Northeast region was CNY 33.50 million, showing a significant increase of 91.79% year-on-year[55]. - The overseas revenue reached CNY 69.23 million, with a year-on-year increase of 55.91%[55]. Strategic Focus - The company is focusing on strategic emerging industries such as biotechnology and new energy as part of its long-term development plan[33]. - The company is focusing on the development of high-performance lubricants for electric vehicles, driven by the growing demand in the market[46]. - The company aims to enhance its product series in pharmaceutical excipients, focusing on high-standard injectable excipients to increase market share[106]. - The company intends to expand its market presence by optimizing product structures and enhancing customized services in both pharmaceutical excipients and synthetic lubricating oils[107]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its reports[6]. - The company faces risks related to product and technology development, including potential mismatches with market demands and regulatory challenges[112]. - The company faces risks related to the quality control of pharmaceutical excipients due to the increasing regulatory scrutiny and the need for continuous improvement in quality control systems as the business scales up[113]. - Environmental protection regulations are becoming stricter, and the company may need to invest more in compliance, potentially increasing operational costs and impacting financial performance[113]. Governance and Compliance - The company has established a governance structure compliant with relevant laws and regulations, ensuring proper operation of the shareholders' meeting, board of directors, and supervisory board[119]. - The company has a risk management system in place that enhances the effectiveness of internal control and management of subsidiaries[152]. - The company has established an internal control system that effectively promotes the steady implementation of its strategy and safeguards the interests of all shareholders[152]. - The company has not faced any penalties from securities regulatory authorities in the past three years[130]. Environmental Responsibility - The company invested CNY 9,123,400 in environmental protection during the reporting period[155]. - The company has implemented various pollution control facilities, with a waste gas treatment capacity of 30,000 m³/h for volatile organic compounds and other pollutants[159]. - The wastewater treatment capacity is 500 tons/day, utilizing multiple advanced processes including SBR and MBR technology[159]. - The company has installed online monitoring equipment for pollutant emissions, ensuring real-time compliance with environmental regulations[163].

Financial Performance - The company's operating revenue for Q1 2023 was ¥246,445,272.15, representing a decrease of 15.19% compared to the same period last year[3] - The net profit attributable to shareholders was ¥26,310,732.19, down by 4.43% year-on-year[3] - The basic earnings per share for the period was ¥0.20, reflecting a decline of 4.76% compared to the previous year[3] - Total operating revenue for Q1 2023 was CNY 246,445,272.15, a decrease of 15.2% compared to CNY 290,586,279.28 in Q1 2022[13] - Net profit for Q1 2023 was CNY 25,635,740.84, a decline of 4.2% from CNY 26,763,211.11 in Q1 2022[14] - The net profit attributable to the parent company for Q1 2023 was CNY 26,310,732.19, a decrease of 4.4% compared to CNY 27,529,731.11 in Q1 2022[15] - The total operating revenue from sales of goods and services in Q1 2023 was CNY 192,568,787.82, a decline of 9.4% from CNY 212,565,168.83 in Q1 2022[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,222,032,915.04, an increase of 3.92% from the end of the previous year[4] - Total assets as of March 31, 2023, were CNY 2,222,032,915.04, an increase from CNY 2,138,160,094.23 at the end of 2022, marking a growth of 3.9%[12] - Total liabilities increased to CNY 701,845,128.22 from CNY 655,756,145.87 at the end of 2022, representing a rise of 7%[12] - Non-current assets totaled CNY 1,695,214,247.90, up from CNY 1,667,874,751.61 at the end of 2022, indicating a growth of 1.6%[11] Cash Flow - The net cash flow from operating activities was negative at -¥12,432,495.15, indicating a significant decline in cash generation[3] - The net cash flow from operating activities for Q1 2023 was negative at CNY -12,432,495.15, compared to a positive CNY 9,037,458.54 in Q1 2022[18] - The company incurred a total cash outflow from operating activities of CNY 207,996,715.51 in Q1 2023, slightly higher than CNY 205,447,864.92 in Q1 2022[18] - The net cash outflow from investing activities for Q1 2023 was CNY -31,422,829.04, compared to CNY -8,785,815.73 in Q1 2022[19] - The company reported cash inflows from financing activities of CNY 125,600,000.00 in Q1 2023, an increase from CNY 115,370,000.00 in Q1 2022[19] - The company reported a net cash inflow from financing activities of CNY 72,635,872.05 in Q1 2023, compared to CNY 66,972,377.01 in Q1 2022[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 7,087[6] - The top shareholder, Wu Renrong, holds 13.67% of the shares, with 10,890,000 shares pledged[7] Operating Costs and Expenses - Total operating costs for Q1 2023 were CNY 214,807,670.05, down 16.6% from CNY 257,641,185.97 in Q1 2022[14] - The company reported R&D expenses of CNY 12,944,144.72 for Q1 2023, an increase of 19.3% compared to CNY 10,847,878.76 in Q1 2022[14] Inventory and Receivables - Cash and cash equivalents increased to CNY 128,322,164.94 as of March 31, 2023, compared to CNY 99,827,619.02 at the end of 2022, representing a growth of 28.5%[11] - Accounts receivable rose to CNY 152,574,670.50, slightly up from CNY 151,137,005.14 at the end of 2022, indicating a 1% increase[11] - Inventory increased to CNY 185,884,308.49, up from CNY 165,129,389.22 at the end of 2022, reflecting a growth of 12.5%[11] Borrowings - Long-term borrowings increased by 42.54%, attributed to new bank loans during the reporting period[5] Miscellaneous - The weighted average return on equity decreased by 0.21 percentage points to 1.76%[3] - The company did not report any net profit from the merged entity in the current or previous period[16]