证券代码：603456 证券简称：九洲药业 公告编号：2023-085 公司已根据中国证监会《公开发行证券的公司信息披露内容与格式准则第 3 号——半年度报告的内容与格式》和《上海证券交易所股票上市规则》相关规定 和要求，编制完成了公司《2023 年半年度报告》和《2023 年半年度报告摘要》。 具体内容详见公司于 2023 年 8 月 15 日在《上海证券报》和上海证券交易所 网站（www.sse.com.cn）披露的浙江九洲药业股份有限公司 2023 年半年度报告 全文及摘要。 表决结果：同意：9 票；反对：0 票；弃权：0 票。 2、审议通过了《关于公司 2023 年半年度募集资金存放与使用情况的专项 报告》； 具体内容详见公司于 2023 年 8 月 15 日在《上海证券报》和上海证券交易所 网站（www.sse.com.cn）披露的《浙江九洲药业股份有限公司关于公司 2023 年 半年度募集资金存放与使用情况的专项报告》（公告编号：2023-087）。 浙江九洲药业股份有限公司 第七届董事会第三十五次会议决议公告 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 ...

证券代码：603456 证券简称：九洲药业 公告编号：2023-087 浙江九洲药业股份有限公司 单位：人民币万元 | | | | | 项目投入 | B1 | 54,036.96 | | --- | --- | --- | --- | | | 截至期初募集资金用于暂时补充流动资 | B2 | 42,000.00 | | 截至期初累计发生 | 金的余额 | | | | 额 | 募集资金用于现金管理取得的理财收益 | B3 | - | | | 利息收入扣除手续费后净额 | B4 | 179.98 | | | 节余募集资金永久补充流动资金 | B5 | - | | 本期发生额 | 项目投入 募集资金本期累计用于暂时补充流动资 本期累计赎回用于暂时补充流动资金的 | C1 | 17,849.06 | | | | C2 | 5,000.00 | | 金 | | | | | | | C3 | 25,500.00 | | | 募集资金 | | | | | 利息收入扣除手续费后净额 | C4 | 36.96 | | | 节余募集资金永久补充流动资金 | C5 | - | | 截至期末累计发生 | 项目投入 | D1=B1+C ...

证券代码：603456 证券简称：九洲药业 公告编号：2023-086 浙江九洲药业股份有限公司（以下简称"公司"）第七届监事会第二十五次 会议于 2023 年 8 月 14 日以现场表决结合通讯表决的方式召开。本次监事会已于 2023 年 8 月 7 日以电子邮件、电话、传真等方式通知全体董事、监事、高级管 理人员。会议由监事会主席孙蒙生先生主持，会议应出席监事 3 名，实际出席监 事 3 名。本次会议参与表决人数及召集、召开程序符合《公司法》和《公司章程》 的有关规定，合法有效。 二、监事会会议审议情况 1、审议通过了《关于公司 2023 年半年度报告全文及摘要的议案》； 监事会对董事会编制的公司 2023 年半年度报告进行了认真审核，认为： （1）公司 2023 年半年度报告的编制和审议程序符合相关法律、法规、规章 和《公司章程》以及公司内部管理制度的相关规定； （2）公司 2023 年半年度报告的内容和格式符合中国证监会和上海证券交易 所的相关规定，所包含的信息能从各方面真实地反映出公司当期的经营管理和财 务状况等事项； 浙江九洲药业股份有限公司 第七届监事会第二十五次会议决议公告 本公司监事会及全体 ...

浙江天册律师事务所 关于 浙江九洲药业股份有限公司 限制性股票解锁相关事项的 法律意见书 浙江省杭州市杭大路 1 号黄龙世纪广场 A 座 11 楼 邮编 310007 电话：0571－87901111 传真：0571－87901500 法律意见书 编号：TCYJS2023H1208号 致：浙江九洲药业股份有限公司 浙江天册律师事务所（以下简称"本所"）接受浙江九洲药业股份有限公司 （以下简称"公司"或"九洲药业"）的委托，就公司实施 2021 年限制性股票 激励计划（以下简称"本次激励计划"）有关事项担任专项法律顾问，并依据《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》"）等有关法律、法规和规范性文件及九洲药业《公司章程》的相关规 定，已出具了 TCYJS2021H0711 号《浙江天册律师事务所关于浙江九洲药业股份 有限公司 2021 年限制性股票激励计划的法律意见书》、TCYJS2021H0831 号《浙 江天册律师事务所关于浙江九洲药业股份有限公司 2021 年限制性股票激励计划 相关事项 ...

浙江九洲药业股份有限公司 关于召开 2023 年半年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 证券代码：603456 证券简称：九洲药业 公告编号：2023-084 三、公司参加人员 重要内容提示： 会议召开地点： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 投资者可于 2023 年 08 月 11 日（星期五） 至 08 月 17 日（星期四）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 （603456@jiuzhoupharma.com）进行提问，公司将在信息披露允许的范围内对投 资者普遍关注的问题进行回答。 一、说明会类型 浙江九洲药业股份有限公司（以下简称"公司"）将于 2023 年 8 月 15 日在上 海证券交易所网站（www.sse.com.cn）披露公司 2023 年半年度报告。为便于广大 投资者更全面、深入地了解公司业绩和经营情况，公司计划于 2023 年 8 月 18 ...

证券代码：603456 证券简称：九洲药业 公告编号：2023-053 浙江九洲药业股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩说明会 的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2023 年 5 月 11 日（星期四）15:00-16:30 会议召开方式：上证路演中心视频录播和网络互动 会议召开地点： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 投资者可于 2023 年 5 月 4 日（星期四）至 5 月 10 日（星期三）16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 （603456@jiuzhoupharma.com）进行提问，公司将在信息披露允许的范围内对投 资者普遍关注的问题进行回答。 3、会议召开方式：上证路演中心视频录播和网络互动 三、公司参加人员 总裁梅义将先生；财务负责人沙裕杰先生；独立董事俞飚先生；董事、副总 裁兼董事会秘书林辉潞先 ...

Financial Performance - The company's operating revenue for 2022 was ¥5,445,105,154.77, representing a 34.01% increase compared to ¥4,063,181,915.60 in 2021[17]. - The net profit attributable to shareholders for 2022 was ¥920,922,206.88, a 45.28% increase from ¥633,900,939.63 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥927,011,401.18, reflecting a 61.70% increase from ¥573,287,858.62 in 2021[17]. - The net cash flow from operating activities for 2022 was ¥1,225,782,092.45, an 80.92% increase compared to ¥677,519,236.31 in 2021[17]. - The total assets at the end of 2022 were ¥7,913,275,762.32, a 12.40% increase from ¥7,040,423,684.10 at the end of 2021[17]. - The net assets attributable to shareholders at the end of 2022 were ¥5,296,559,223.73, which is a 15.72% increase from ¥4,577,129,753.17 in 2021[17]. - The company's operating revenue for 2022 reached 5.445 billion RMB, an increase of 34.01% compared to the previous year, primarily driven by the growth in CDMO business[25]. - Net profit attributable to shareholders for 2022 was 921 million RMB, reflecting a year-on-year increase of 45.28%, also mainly due to the expansion of CDMO business[25]. - Basic earnings per share for 2022 increased by 44.16% to 1.11 RMB per share, attributed to the rise in net profit[19]. - Diluted earnings per share rose by 46.05% to 1.11 RMB per share, driven by the increase in net profit attributable to shareholders[19]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 4.00 CNY per 10 shares to all shareholders for the 2022 fiscal year, with no stock increases or bonus shares issued[2]. - The total cash dividend amount, including share repurchase, is RMB 406,451,648.86, which accounts for 44.14% of the net profit attributable to ordinary shareholders[151]. - The company plans to implement a shareholder return plan for the next three years (2022-2024)[127]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[2]. - The company has established a comprehensive quality management system that meets global industry standards, ensuring compliance with various international regulatory bodies[46]. - The company has continuously improved its internal control system to ensure compliance and asset security, aligning with regulatory requirements[158]. - The internal control audit report for the year was issued with a standard unqualified opinion by Tianjian Accounting Firm[160]. Research and Development - The company invested CNY 335 million in R&D in 2022, representing a 77.85% increase year-over-year[26]. - The total number of R&D personnel is 993, representing a significant investment in human resources for innovation and development[64]. - The R&D investment in CDMO projects was 19,330.76 million RMB, accounting for 3.55% of operating revenue, with a significant increase of 92.03% compared to the previous year[84]. - The company has developed multiple leading technology platforms, including chiral catalysis and continuous reaction technologies, to address client challenges[26]. - The company has established a comprehensive CDMO service platform for small molecule drugs, including pre-formulation, formulation development, quality research, and commercial production[42]. Market Expansion and Strategic Initiatives - Future outlook includes strategic plans for market expansion and potential mergers and acquisitions to strengthen its competitive position[9]. - The company is focused on expanding its market presence and enhancing its product offerings through research and development initiatives[9]. - The company aims to leverage new technologies in its product development processes to improve efficiency and effectiveness[9]. - The company is actively pursuing potential acquisitions to strengthen its market position and diversify its product portfolio[130]. - The company plans to develop a CRO platform to extend its value chain and enhance service capabilities for existing and potential clients[106]. Risk Management - The company has established a comprehensive risk management system to enhance the effectiveness of internal control and management of subsidiaries[159]. - The company faces risks related to the potential withdrawal or recall of major innovative drugs, which could impact demand for its services[110]. - The company is experiencing intensified market competition from both domestic and international pharmaceutical contract development and manufacturing organizations (CDMOs) due to new entrants and increased investment in local facilities[115]. - Environmental and safety risks are present in the production process, with potential for accidents if not managed properly, despite the company's commitment to EHS management systems[116]. Corporate Governance - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements and effective decision-making[121]. - The company has established a robust investor relations management system to ensure timely and accurate communication with investors[122]. - The company has committed to fulfilling its obligations regarding the repurchase of shares and compensation for investors in case of any false statements or omissions in the IPO prospectus[184]. - The company has made commitments regarding the performance of its stock incentive plan, ensuring that any benefits obtained will be returned if there are false disclosures[187]. Environmental Responsibility - The company has implemented carbon reduction measures through the purchase of green electricity and the use of green chemical technologies[179]. - The company has developed green catalytic and synthesis technologies that significantly reduce waste emissions and energy consumption, supporting a sustainable development model[178]. - The company has established a closed-loop management system focusing on risk prevention and effective management[159]. - The company has continuously invested in environmental protection, including hardware investments and maintenance of pollution control equipment, since obtaining ISO14001 certification in 2002[178].

Financial Performance - The company's operating revenue for Q1 2023 reached ¥1,751,242,194.31, representing a year-on-year increase of 27.49%[4] - Net profit attributable to shareholders for Q1 2023 was ¥280,694,039.23, up 35.07% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥274,128,312.35, reflecting a growth of 40.19% year-on-year[4] - Operating profit for Q1 2023 was ¥349,452,953.25, up from ¥253,540,462.07 in Q1 2022, reflecting a growth of 37.8%[20] - Net profit for Q1 2023 was ¥279,457,100.43, compared to ¥207,376,991.20 in Q1 2022, representing an increase of 34.8%[20] - Total comprehensive income amounted to CNY 280,874,570.57, an increase from CNY 206,478,271.34 in the previous period, reflecting a growth of approximately 36%[21] - Basic and diluted earnings per share increased to CNY 0.32 from CNY 0.25, representing a growth of 28%[21] Cash Flow and Liquidity - The net cash flow from operating activities amounted to ¥456,884,062.19, an increase of 19.49% from the previous year[4] - As of March 31, 2023, the company's cash and cash equivalents amounted to approximately RMB 4.03 billion, a significant increase from RMB 1.10 billion as of December 31, 2022, representing a growth of 268%[15] - Cash inflow from operating activities reached CNY 2,098,706,912.05, up from CNY 1,666,898,204.18, indicating a growth of about 25.8%[23] - Net cash flow from operating activities was CNY 456,884,062.19, compared to CNY 382,358,482.10 in the previous year, marking an increase of approximately 19.5%[23] - Cash inflow from financing activities totaled CNY 3,174,999,971.42, significantly higher than CNY 683,816,779.30 in the prior year, showing an increase of over 367%[24] - The net increase in cash and cash equivalents was CNY 3,017,760,716.20, compared to CNY 420,117,429.98 in the previous period, reflecting a substantial growth of approximately 618%[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥10,954,903,596.51, a 38.44% increase from the end of the previous year[4] - Total assets as of Q1 2023 were ¥10,954,903,596.51, compared to ¥7,913,275,762.32 in Q1 2022, marking an increase of 38.8%[18] - Total liabilities for Q1 2023 were ¥2,820,331,852.67, up from ¥2,541,795,984.35 in Q1 2022, reflecting a growth of 10.9%[17] - The company’s long-term borrowings rose to ¥157,975,147.77 in Q1 2023, compared to ¥83,991,508.88 in Q1 2022, indicating an increase of 88.0%[17] Shareholder Information - Shareholders' equity attributable to the parent company reached ¥8,060,888,128.40, marking a 52.19% increase year-on-year[5] - The total equity attributable to shareholders reached ¥8,060,888,128.40 in Q1 2023, compared to ¥5,296,559,223.73 in Q1 2022, an increase of 52.5%[17] - The total number of ordinary shareholders at the end of the reporting period was 33,368[9] - The top ten shareholders include Zhejiang Zhongbei Jiuzhou Group Co., Ltd. with a 31.52% stake and Taizhou Gede Industrial Co., Ltd. with a 4.51% stake[11] Investment and Growth Strategies - The company is focused on expanding its CDMO business, which has significantly contributed to the revenue growth[5] - The company completed a non-public offering of A-shares in January 2023, raising approximately RMB 2.49 billion after deducting underwriting fees[13] - The company used RMB 600 million of the raised funds to increase investment in its projects and RMB 1.46 billion to supplement working capital[13] - The acquisition of 100% equity in the Zhongshan formulation factory from Sandos (China) was completed in March 2023, enhancing the company's CDMO capabilities[14] - The company continues to enhance its project-oriented management model to deepen relationships with major clients and expand its customer base[5] Inventory and Receivables - Accounts receivable increased to approximately RMB 825.46 million from RMB 671.11 million, reflecting a growth of 23% year-over-year[15] - Inventory decreased to approximately RMB 1.79 billion from RMB 2.02 billion, indicating a reduction of 12%[15] Research and Development - Research and development expenses for Q1 2023 amounted to ¥78,769,888.33, up from ¥64,192,677.61 in Q1 2022, indicating a growth of 22.7%[19] Financial Management - The company reported a decrease in financial expenses from ¥12,518,148.32 in Q1 2022 to ¥7,883,702.45 in Q1 2023, a reduction of 37.5%[19] - The company’s deferred tax assets increased from ¥23,999,576.14 in Q1 2022 to ¥33,774,264.48 in Q1 2023, a growth of 40.9%[16] Accounting Standards - The company did not apply new accounting standards or interpretations for the first time in 2023[25]

Financial Performance - The company's operating revenue for Q3 2022 reached ¥1,418,207,438.23, representing a year-on-year increase of 24.83%[4] - The net profit attributable to shareholders for Q3 2022 was ¥275,166,576.91, up 38.77% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was ¥294,301,623.25, reflecting a 54.11% increase year-on-year[4] - The basic earnings per share for Q3 2022 was ¥0.33, an increase of 37.50% compared to the same period last year[4] - The diluted earnings per share for Q3 2022 was also ¥0.33, reflecting a 37.50% increase year-on-year[4] - The company achieved a net profit of ¥743.23 million for the first three quarters of 2022, a growth of 57.09% year-on-year[6] - The total operating revenue for the first three quarters of 2022 reached ¥4,372,695,484.55, a significant increase of 45.5% compared to ¥3,004,229,474.76 in the same period of 2021[21] - The total profit for Q3 2022 was CNY 871,579,890.61, an increase of 60.1% from CNY 544,184,530.47 in Q3 2021[22] - The company’s operating profit for Q3 2022 was CNY 873,921,630.43, up from CNY 549,152,950.95 in Q3 2021, reflecting a growth of 59.0%[22] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was ¥1,236,399,937.86, showing a significant increase of 191.42%[4] - As of September 30, 2022, cash and cash equivalents amounted to 1,495,710,632.14 RMB, an increase from 1,120,801,411.69 RMB at the end of 2021[17] - The cash and cash equivalents at the end of Q3 2022 amounted to CNY 1,077,953,018.45, up from CNY 858,721,339.25 at the end of Q3 2021, showing an increase of 25.6%[25] - The company's total assets as of the end of Q3 2022 amounted to ¥7,839,931,627.65, an increase of 11.36% from the end of the previous year[5] - The total current assets as of September 30, 2022, were 4,179,264,243.64 RMB, compared to 3,771,883,813.73 RMB at the end of 2021[17] - The company's accounts receivable decreased to 631,823,867.17 RMB from 767,032,258.42 RMB year-over-year[17] Shareholder Information - The total number of common shareholders at the end of the reporting period was 29,481[10] - Zhejiang Zhongbei Jiuzhou Group Co., Ltd. holds 283,518,812 shares, accounting for 33.98% of total shares[10] - The top ten unrestricted shareholders include China Industrial Bank Co., Ltd. with 40,737,316 shares (4.88%) and Taizhou GeDe Industrial Co., Ltd. with 40,585,680 shares (4.86%)[11] Business Development - The strong performance was primarily driven by the growth in the CDMO business, supported by enhanced customer engagement and operational efficiency[6] - The company aims to achieve a one-stop capability from CMC research and development to commercial production in the CDMO industry[15] - The company signed an equity acquisition agreement with Sandos (China) Pharmaceutical Co., Ltd. to enhance its CDMO formulation business capabilities, with a fundraising amount of 185 million RMB[14] Expenses and Liabilities - Total operating costs for the first three quarters of 2022 were ¥3,439,860,576.73, up 39.0% from ¥2,472,370,398.44 in the previous year[21] - Research and development expenses increased to ¥227,413,281.50, representing an 86.5% rise from ¥122,104,944.00 in the prior year[21] - The total liabilities of the company were ¥2,633,390,645.01, up from ¥2,463,293,930.93, indicating a rise of 6.9%[19] - The equity attributable to shareholders reached ¥5,128,440,403.51, compared to ¥4,577,129,753.17, marking an increase of 12.0%[19] Tax and Investment Income - The company reported a tax expense of CNY 130,100,644.37 for Q3 2022, compared to CNY 70,801,890.24 in Q3 2021, which is an increase of 83.8%[22] - The company reported a net profit of ¥20,282,370.13 from investment income, down 54.8% from ¥44,792,103.57 in the previous year[21]

Financial Performance - The company reported a total revenue of 1.2 billion CNY for the first half of 2022, representing a year-on-year increase of 15%[1]. - The net profit attributable to shareholders reached 300 million CNY, up 20% compared to the same period last year[1]. - The company's operating revenue for the first half of 2022 was CNY 2,954,488,046.32, representing a 58.15% increase compared to CNY 1,868,124,056.33 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2022 was CNY 468,062,251.01, a 70.31% increase from CNY 274,836,951.23 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 90.37%, reaching CNY 468,490,561.59 compared to CNY 246,089,231.34 last year[19]. - The net cash flow from operating activities surged by 306.04%, amounting to CNY 558,493,982.24, up from CNY 137,547,190.33 in the same period last year[20]. - Basic earnings per share rose by 69.70% to CNY 0.56, compared to CNY 0.33 in the previous year[21]. - The diluted earnings per share also increased by 69.70% to CNY 0.56, reflecting the growth in net profit attributable to shareholders[21]. - The total assets of the company reached CNY 7,928,191,347.80, a 28.51% increase from CNY 6,169,337,820.67 at the end of the previous year[20]. - The net assets attributable to shareholders increased by 15.83% to CNY 4,853,799,419.55 from CNY 4,190,283,257.23 at the end of the previous year[20]. Market and Business Development - User data indicates a growth in active users by 25%, reaching 5 million active users by the end of June 2022[1]. - The company has set a revenue guidance of 2.5 billion CNY for the full year 2022, reflecting an expected growth of 10%[1]. - New product launches contributed to 30% of total revenue, with two major products introduced in Q2 2022[1]. - Market expansion efforts have led to a 40% increase in sales in the Southeast Asian market[1]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach[1]. - The significant growth in revenue and profit is primarily attributed to the increase in CDMO (Contract Development and Manufacturing Organization) business[21]. - The company has strengthened its CDMO capabilities and optimized its internal management system, leading to improved profitability[29]. - The company is focusing on expanding its collaboration with both large and emerging pharmaceutical clients, resulting in a steady increase in orders and projects[29]. - The company is actively developing generic drugs and intermediates, leveraging its advantages in raw materials to create an integrated model for generic formulations[28]. - The company aims to enhance its market competitiveness by continuously optimizing production processes for clients' commercialized products[27]. Research and Development - The company is investing 100 million CNY in R&D for new technologies aimed at enhancing product efficacy and safety[1]. - R&D expenses surged by 102.26% year-on-year, totaling approximately ¥166.8 million, due to increased investments in CDMO and formulation R&D[60]. - The company has developed over 30 enzyme-catalyzed processes for active pharmaceutical ingredients and intermediates, emphasizing the advantages of mild reaction conditions and high selectivity[36]. - The company has established multiple leading technology platforms, including chiral catalysis and continuous reaction technology, which have been commercialized[34]. - The company has built a peptide platform with over 15 years of R&D experience, catering to custom peptide and new drug IND development[45]. Financial Management and Investments - The company has a strong talent management system, enhancing its ability to attract and retain skilled professionals in the pharmaceutical industry[39]. - The company launched a new stock incentive plan in March 2022 to enhance talent retention and align interests among shareholders, management, and core technical personnel[54]. - The company has implemented various talent development programs, including the "Navigator Plan" and "Wolf Warrior Plan," to enhance the capabilities of its workforce[54]. - The company completed the CMO multifunctional production base project, with a total investment of CNY 50,171.37 million, and the project was completed by June 30, 2022[72]. - The company acquired a 51% stake in Kangchuan Pharmaceutical, enhancing its CDMO formulation R&D capabilities[52]. Environmental and Social Responsibility - The company emphasizes green and sustainable development, focusing on low energy consumption and emissions, and is working towards carbon neutrality[41]. - The company has invested in advanced environmental protection technologies, including chiral catalytic and synthetic technologies, to significantly reduce waste emissions and energy consumption[114]. - The company has established a robust environmental risk emergency mechanism, ensuring efficient response to pollution incidents[109]. - The company has maintained compliance with environmental standards, with all monitored pollutants meeting discharge requirements[110]. - The company emphasizes its commitment to social responsibility, engaging in various charitable activities such as disaster relief and support for rural revitalization[116]. Risks and Challenges - The management highlighted risks related to regulatory changes that could impact future operations[1]. - The company faces risks related to the lifecycle changes of innovative drugs and potential market competition from generic drugs[79]. - There is a risk of technological upgrades in specialty raw materials affecting the company's main business[80]. - The company is exposed to regulatory changes in drug policies that could impact market access and competition[82]. - The competitive landscape is intensifying due to new entrants in the domestic market and increased foreign investment in local production[83]. Corporate Governance - The company did not distribute profits or increase capital reserves in the first half of 2022, with no dividends or stock bonuses declared[91]. - The company has not disclosed any significant contracts or their performance status during the reporting period[133]. - The company has not reported any non-standard audit opinions or changes in the previous year's annual report[126]. - The company has not engaged in any asset acquisitions or equity purchases during the reporting period[126]. - The company has no significant litigation or arbitration matters during the reporting period[126].