Financial Performance - Net profit attributable to shareholders decreased by 62.6% year-on-year to CNY 14,418,319.35, primarily due to increased R&D expenses for major animal disease vaccines[11] - The company reported a basic earnings per share of CNY 0.04, a decrease of 66.67% compared to the same period last year[11] - Operating profit decreased to CNY 10,850,502.17 from CNY 42,623,908.55, a decline of approximately 74.6%[39] - Net profit for the quarter was CNY 14,418,319.35, down from CNY 38,551,260.14, indicating a decline of about 62.6%[41] - The company reported a total profit of CNY 16,260,625.51, down from CNY 44,358,843.71, indicating a decline of approximately 63.4%[39] Revenue and Sales - Revenue from pig vaccines decreased by 37.67% to CNY 32,186,350.04, impacted by a significant decline in pig inventory due to African swine fever[14] - Revenue from poultry vaccines and antibodies increased by 20.31% to CNY 55,153,219.96, indicating a positive trend in this segment[14] - Revenue from chemical drugs rose by 22.20% to CNY 55,567,473.39, reflecting strong performance in this category[14] - Total operating revenue for the first quarter was CNY 147,308,624.78, an increase from CNY 143,820,632.50 in the previous year, representing a growth of approximately 3.4%[39] Expenses and Costs - Operating cash flow net outflow increased by 282.98% year-on-year to CNY -48,393,711.45, mainly due to increased year-end bonuses and technical cooperation costs[14] - Total operating costs rose to CNY 139,725,241.76 from CNY 108,878,788.49, marking an increase of about 28.3%[39] - Research and development expenses surged by 170.69% to ¥32,121,004.20, primarily due to increased technical collaboration costs[20] - The company reported a significant increase in cash paid to employees, totaling CNY 54,232,936.27, up from CNY 40,387,468.11 year-over-year[50] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,883,129,230.75, a decrease of 1.05% compared to the end of the previous year[11] - The total number of shareholders at the end of the reporting period was 11,173[15] - Total liabilities decreased from ¥267,509,627.47 to ¥233,140,909.57, a reduction of approximately 12.8%[30] - Total equity increased from ¥1,635,570,001.83 to ¥1,649,988,321.18, reflecting a growth of about 0.9%[30] - Cash and cash equivalents decreased from ¥385,246,166.19 to ¥264,578,589.29, a decline of approximately 31.2%[33] Cash Flow - The net cash flow from operating activities decreased by 282.98% to -¥48,393,711.45, mainly due to the payment of last year's year-end bonuses and increased technical collaboration costs[20] - Cash inflow from operating activities totaled CNY 117,247,126.52, an increase from CNY 101,205,292.86 year-over-year[50] - Cash outflow from operating activities was CNY 165,640,837.97, compared to CNY 113,841,420.74 in the previous year, resulting in a net cash flow from operating activities of -CNY 48,393,711.45[50] Investments - The company's investment income plummeted by 88.48% to ¥699,792.26, attributed to reduced earnings from associated companies[20] - Investment income fell to CNY 699,792.26 from CNY 6,073,793.34, a decrease of approximately 88.5%[39] Shareholder Equity - The company's total owner's equity increased from ¥1,611,913,460.79 to ¥1,613,296,658.13, reflecting a growth of about 0.1%[34] - Unallocated profits increased from ¥750,669,278.57 to ¥765,087,597.92, an increase of approximately 1.7%[30] Other Financial Metrics - The weighted average return on net assets decreased by 1.52 percentage points to 0.88%[11] - The company's accounts receivable rose to ¥169,055,696.77, up from ¥146,623,662.04, indicating improved sales performance[25] - The company's other payables decreased slightly to ¥130,056,331.77 from ¥132,308,249.83, showing better cash management[28]

Financial Performance - The company's operating revenue for 2018 was CNY 608,059,265.46, representing a 14.75% increase compared to CNY 529,895,207.70 in 2017[29]. - The net profit attributable to shareholders for 2018 was CNY 135,614,826.19, an 18.77% increase from CNY 114,185,865.33 in 2017[29]. - The net profit after deducting non-recurring gains and losses was CNY 87,284,030.87, which is a 28.86% increase from CNY 67,734,905.75 in 2017[29]. - The company's total assets at the end of 2018 were CNY 1,903,079,629.30, a 5.43% increase from CNY 1,805,111,236.09 at the end of 2017[29]. - The net assets attributable to shareholders increased by 4.25% to CNY 1,635,570,001.83 at the end of 2018 from CNY 1,568,839,814.83 at the end of 2017[29]. - The basic earnings per share for 2018 was CNY 0.42, reflecting a 16.67% increase from CNY 0.36 in 2017[29]. - The company reported a net cash flow from operating activities of CNY 126,271,903.35, which is a 10.36% decrease from CNY 140,861,979.00 in 2017[29]. - The company achieved a revenue of CNY 608.06 million, representing a year-on-year growth of 14.75%[54]. - The net profit for the period was CNY 135.61 million, reflecting an increase of 18.77% compared to the previous year[54]. - The company reported a total sales revenue of ¥599,943,716.12, a 14.15% increase compared to ¥525,347,313.95 in the previous year[117]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares, totaling an expected cash dividend payout of RMB 97.122 million[7]. - In 2018, the company distributed a cash dividend of RMB 3.00 per 10 shares, totaling RMB 97,122,000, which represents 71.62% of the net profit attributable to ordinary shareholders[156]. - The company distributed cash dividends of 0.2 yuan per share in 2018, totaling 64.748 million yuan, maintaining a stable cash dividend policy[155]. - The company has maintained a commitment to transparency regarding unallocated profits and their intended use[156]. Research and Development - The company focuses on the R&D of animal biological products and chemical drugs, including vaccines and veterinary medicines[36]. - The company adopts an "innovation-driven development" strategy, emphasizing continuous innovation in vaccine products for major animal diseases[37]. - Research and development expenses amounted to CNY 73.46 million, accounting for 12.08% of total revenue[55]. - The company has applied for 26 invention patents, with 26 patents granted, including 3 international patents[55]. - The company has developed a series of biological products focusing on new-generation genetic engineering vaccines and multi-valent vaccines for disease control in pigs and poultry[94]. - The company is focusing on research and development of new veterinary drugs, with multiple products registered in 2023, showcasing its commitment to innovation in the animal health sector[108]. Market and Sales - The company achieved a 40.37% increase in income from intellectual property transfers, contributing significantly to revenue growth[61][66]. - The revenue from distribution business reached CNY 323.75 million, a year-on-year increase of 14.80%[56]. - Direct sales revenue was CNY 229.91 million, showing a growth of 19.26% compared to the previous year[56]. - The sales model for the company includes 53.96% from distributors, 38.32% from direct sales to large farming groups, and 2.70% from government procurement[117]. - The company aims to strengthen its market presence by diversifying its product range, as evidenced by the introduction of various formulations and delivery methods for existing drugs[108]. Risk Management - The company has detailed various risks it may face in its production and operation processes in the report[9]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute substantive commitments to investors[8]. - The company faces risks from animal epidemics, which could significantly impact the livestock industry and the veterinary drug sector[149]. - R&D in the veterinary drug industry is characterized by high investment and long cycles, with product development taking approximately six years[150]. - The company is exposed to market competition risks due to increasing international players in the domestic market[152]. Corporate Governance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[6]. - The company has confirmed that all board members attended the board meeting for the annual report[6]. - The company has not violated decision-making procedures for external guarantees[9]. - The company has committed to ensuring the accuracy and completeness of the financial report[5]. - The company has not faced any major litigation or arbitration matters during the reporting period[187]. Investments and Acquisitions - The company became a limited partner in the CITIC Agricultural Fund with a committed investment of ¥100 million, enhancing its international acquisition capabilities[59]. - The company has made significant equity investments, including 162.75 million yuan in Zhongpu Biological, holding a 46.50% stake, and 80 million yuan in CITIC Agricultural Fund, holding a 3.72% stake[124]. - The company has ongoing non-equity investments, including 403.65 million yuan in Huizhong Biological's veterinary drug industrialization project, with a total actual investment of 156.60 million yuan[125]. Compliance and Transparency - The company guarantees that its prospectus for the initial public offering (IPO) does not contain false records or misleading statements, and it will bear legal responsibility for its authenticity and completeness[170]. - The company has committed to not distribute cash dividends or pay salaries to directors and senior management until it fulfills its public commitments if it fails to meet the commitments[170]. - The controlling shareholder has committed to repurchase shares at a price not lower than the issuance price plus interest if the IPO prospectus contains any false records or misleading statements[173].

公司代码：603566 公司简称：普莱柯 普莱柯生物工程股份有限公司 2018 年第三季度报告 1 / 19 2018 年第三季度报告 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 2018 年第三季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 3 / 19 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年 度末增减(%) 总资产 1,857,457,706.32 1,805,111,236.09 2.90 归属于上市公司股东的净 资产 1,626,369,560.03 1,568,839,814.83 3.67 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减 (%) 经营活动产生的现金流量 净额 61,697,838.84 67,291,793.28 -8.31 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减 （%） 营业收入 430 ...

Financial Performance - The company's operating revenue for the first half of 2018 was ¥285,290,183.23, representing a 10.46% increase compared to ¥258,267,884.63 in the same period last year[22] - The net profit attributable to shareholders of the listed company was ¥76,434,737.79, an increase of 23.40% from ¥61,938,507.68 in the previous year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥55,902,220.25, showing a 3.89% increase from ¥53,808,610.03 in the same period last year[22] - The net cash flow from operating activities was ¥44,445,273.29, which is a significant increase of 71.27% compared to ¥25,950,131.79 in the previous year[22] - Basic and diluted earnings per share rose to 0.24 yuan, reflecting a 26.32% increase year-over-year[23] - The company's revenue for the reporting period reached 285,290,183.23 CNY, an increase of 10.46% compared to the same period last year[44] - Net profit attributable to shareholders increased by 23.40% to 76.43 million yuan, driven by higher income from key products and investment gains[24] Asset and Equity Changes - The net assets attributable to shareholders at the end of the reporting period were ¥1,582,834,007.56, a slight increase of 0.89% from ¥1,568,839,814.83 at the end of the previous year[22] - The total assets at the end of the reporting period were ¥1,815,600,912.91, reflecting a 0.58% increase from ¥1,805,111,236.09 at the end of the previous year[22] - Owner's equity increased from CNY 1,568,839,814.83 to CNY 1,582,834,007.56, reflecting a growth of about 0.9%[125] - The total equity attributable to shareholders reached CNY 1,565,754,498.23, up from CNY 1,551,381,624.20[129] Cash Flow Analysis - The net cash flow from operating activities surged by 71.27% to 44,445,273.29 CNY, driven by increased sales and advance payments[44] - Cash inflow from sales of goods and services was CNY 189,829,950.49, up from CNY 174,083,634.34, showing an increase of approximately 9.1%[139] - The net cash flow from operating activities for the parent company was CNY 46,063,452.41, compared to CNY 29,819,684.20 in the previous period, reflecting a growth of about 54.2%[139] Research and Development - Research and development expenses amounted to 27.26 million yuan, accounting for 9.55% of operating revenue, maintaining a high investment intensity[38] - Research and development expenses increased by 27.13% to 27,256,729.31 CNY, attributed to higher incentives for core personnel and increased material costs[45] - The company obtained 17 invention patents during the reporting period, including one international patent[38] Investment Activities - The company invested 16,275,000 CNY in a joint venture with Zhongmu Co. and CITIC Agriculture to upgrade foot-and-mouth disease vaccine technology[42] - The company plans to invest 100 million CNY in the National Adjustment CITIC Fund to enhance its capabilities in international pet vaccines and biotechnologies[42] - The company invested a total of 16,000,000 CNY in the veterinary drug industrialization project, with a cumulative actual investment of 15,493,470 CNY and an additional investment of 237,420 CNY during the reporting period[54] Shareholder and Stock Information - The largest shareholder, Zhang Xuke, holds 107,619,672 shares, representing 33.24% of the total shares[111] - The company plans to allocate 30% of the after-tax salary of key executives for stock repurchase to stabilize the stock price, with a budget of 30 million yuan[64] - The controlling shareholder Zhang Xuke will use at least 10 million yuan for stock repurchase to stabilize the stock price, with a notification to the company required within 30 days[64] Environmental Compliance - The company is classified as a key pollutant discharge unit by the Henan Provincial Environmental Protection Bureau, focusing on hazardous waste management[76] - The company has a total wastewater discharge limit of 2.1 tons/year for COD and 0.37 tons/year for ammonia nitrogen[77] - The company has complied with environmental impact assessment regulations for all ongoing projects during the reporting period[100] Legal and Regulatory Matters - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[60] - There are no significant litigation or arbitration matters during the reporting period[69] - The company commits to compensating investors for losses incurred due to any false statements or omissions in the prospectus, with specific measures to be announced after board approval[66] Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial statements reflect the true financial condition and operating results[158] - The company uses RMB as its accounting currency[161] - The company applies specific accounting treatments for mergers and acquisitions, including fair value measurement for non-same control mergers[162][165]

Financial Performance - The company's operating revenue for 2017 was CNY 529.90 million, a decrease of 9.12% compared to CNY 583.10 million in 2016[23]. - The net profit attributable to shareholders for 2017 was CNY 114.19 million, down 39.26% from CNY 188.00 million in 2016[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 67.73 million, a decline of 52.00% from CNY 141.11 million in 2016[23]. - The net cash flow from operating activities decreased by 44.33% to CNY 140.86 million from CNY 253.03 million in 2016[23]. - The company's total assets at the end of 2017 were CNY 1.81 billion, an increase of 3.93% from CNY 1.74 billion at the end of 2016[23]. - The basic earnings per share for 2017 were CNY 0.36, down 38.98% from CNY 0.59 in 2016[24]. - The weighted average return on equity decreased to 7.56% in 2017 from 13.40% in 2016, a reduction of 5.84 percentage points[24]. - Government procurement revenue for the company was CNY 29.10 million in 2017, a significant decline of 74.99% compared to the previous year[33]. - The company achieved a revenue of 529.8952 million yuan, a decrease of 9.12% compared to the previous year, and a net profit of 114.1859 million yuan, down 39.26% year-on-year[49]. - The total revenue for the reporting period was approximately ¥525.35 million, a decrease of 9.69% compared to the previous year, with a gross margin of 68.70%, down by 2.58 percentage points[65]. Research and Development - The company is focused on expanding its product line, including vaccines and biological products for livestock[12]. - The company is actively engaged in research and development of new veterinary drugs and vaccines, with several products in various stages of clinical trials[12]. - The company focuses on innovation-driven development, utilizing independent, cooperative, and outsourced research and development methods[34]. - R&D investment for the year was 61.2093 million yuan, an increase of 4.70% year-on-year, accounting for 11.55% of total revenue[49]. - The company has applied for over 400 invention patents and obtained more than 150 invention patent authorizations, including 12 PCT international invention patent applications[40]. - The company has filed multiple invention patents domestically and internationally for key products under development, highlighting its focus on intellectual property protection[82]. - The company is actively involved in the development of vaccines for avian diseases, including H9 subtype vaccines[94]. - The company has developed a series of biological products focusing on new generation genetic engineering vaccines and multi-valent vaccines for various animal diseases, emphasizing innovation-driven development[82]. - The R&D investment for the recombinant foot-and-mouth disease subunit vaccine was 2,625,381.34 RMB, with a significant year-on-year increase of 665.66%[83]. - The company has developed a new veterinary drug, "苦参功劳颗粒," which received certification in 2017[93]. Market Strategy and Expansion - The company is actively expanding its market presence and enhancing its brand through strategic marketing and service initiatives[46]. - The company’s marketing strategy combines technical marketing, brand marketing, and large team marketing, integrating various sales channels[37]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[91]. - The company plans to increase its R&D investment by 15% in the upcoming fiscal year to accelerate the development of innovative veterinary solutions[91]. - The company aims to enhance its distribution network, targeting a 20% increase in reach within the next two years to improve product availability[91]. - The company is focusing on expanding its market presence with new product launches and research initiatives[93]. - The company is actively pursuing market expansion strategies, particularly in the poultry and swine vaccine segments, to capture a larger market share[91]. - The company plans to develop a dual-subunit vaccine for porcine circovirus and pseudorabies virus, currently in laboratory research phase[95]. - The company aims for a revenue growth of 20% to 40% and a net profit growth of 50% to 80% in 2018[118]. - The company will implement a "super big single product" marketing strategy, targeting the top 20 large breeding groups in China[118]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[8]. - The company is committed to maintaining transparency and accuracy in its financial disclosures, as stated by its management team[8]. - The company has no significant litigation or arbitration matters during the reporting period, indicating a stable legal standing[150]. - The company has not faced any major accounting errors or corrections during the reporting period, ensuring the integrity of its financial statements[149]. - The company has committed to transparency in case of any non-compliance with public commitments, including potential compensation for investors[143]. - The company will actively fulfill all public commitments made during the IPO process and accept social supervision[136]. - The company will provide a written explanation and apology if any public commitments are not fulfilled due to non-force majeure reasons[136]. - The company has implemented a transparent information disclosure system, ensuring timely and accurate reporting[198]. - The company has maintained a 100% product quality inspection pass rate for the past five years (2012 to 2016) according to the Ministry of Agriculture[161]. - The company has ensured compliance with social security and housing fund regulations, avoiding penalties or claims from employees[145]. Shareholder and Financial Policies - The company plans to distribute a cash dividend of RMB 2 per 10 shares, totaling RMB 64.748 million based on a total share capital of 32.374 million shares as of December 31, 2017[5]. - The cash dividend policy remained unchanged during the reporting period[129]. - The company will not sell any shares acquired through the repurchase plan for six months after completion[136]. - The company will stop cash dividend plans and the payment of salaries to directors and senior management if it fails to fulfill its commitments regarding the prospectus[138]. - The company will also halt major asset purchases, sales, and other capital operations until it meets its commitments[138]. - The company has committed to not engaging in any competitive activities with similar businesses during the control period[132]. - The company’s independent directors approved the profit distribution plan, ensuring it aligns with legal regulations and shareholder interests[129]. - The company has committed to not transferring or managing its shares for 36 months post-IPO[132]. - The company will extend the lock-up period for shares if the stock price falls below the issue price for 20 consecutive trading days within six months post-IPO[135]. - The company will adjust the share price based on any profit distribution or stock allocation actions[135]. Employee and Social Responsibility - The company has invested in employee health checks and various cultural activities to enhance employee well-being and engagement in 2017[161]. - The company has established a performance-based salary system for employees, adjusting salaries based on market levels and company performance[193]. - The training program is supported by the established Pulaike Academy, focusing on enhancing business skills and management capabilities[194]. - The company has committed to social responsibility, actively participating in public welfare and supporting impoverished areas[160]. - The company is not classified as a key pollutant discharge unit and adheres to various environmental protection laws, aiming to be a resource-saving and environmentally friendly enterprise[162]. - The company has established an emergency response plan for environmental incidents, which was revised in September 2017 and filed with the local environmental protection bureau[163]. - The company has commissioned a third-party testing agency to monitor wastewater, with all pollutant indicators meeting discharge standards in 2017[163]. - The company has a total of RMB 350.2 million in principal guaranteed financial products from self-owned funds, with no overdue amounts[155]. - The company has a total of RMB 135 million in principal guaranteed financial products from raised funds, with no overdue amounts[155]. - The company has achieved a significant annualized return rate of up to 5.35% on its entrusted financial management products[157].

Financial Performance - Net profit attributable to shareholders increased by 15.52% to CNY 38,551,260.14 year-on-year[9] - Operating revenue rose by 8.77% to CNY 143,820,632.50 compared to the same period last year[9] - Basic earnings per share increased by 20.00% to CNY 0.12[9] - Total operating revenue for Q1 2018 was CNY 143,820,632.50, an increase of 8.7% from CNY 132,228,870.11 in the same period last year[27] - Net profit for Q1 2018 reached CNY 38,551,260.14, representing a 15.5% increase compared to CNY 33,371,956.54 in Q1 2017[28] - Total profit for Q1 2018 was CNY 44,358,843.71, an increase of 15.5% from CNY 38,460,737.68 in Q1 2017[28] Asset and Liability Management - Total assets increased by 1.76% to CNY 1,836,925,830.90 compared to the end of the previous year[9] - The company's current assets totaled CNY 1,178,570,353.07, up from CNY 1,151,850,409.31 at the start of the year, indicating an increase of about 2.3%[19] - Total liabilities decreased to CNY 228,585,028.46 from CNY 236,271,421.26, marking a reduction of approximately 3.2%[21] - The company's equity attributable to shareholders rose to CNY 1,608,340,802.44 from CNY 1,568,839,814.83, reflecting an increase of about 2.0%[21] - Total liabilities as of the end of Q1 2018 were CNY 183,571,071.94, a slight decrease from CNY 185,667,438.29 at the end of the previous year[28] - Total equity increased to CNY 1,584,809,332.77 in Q1 2018, compared to CNY 1,551,381,624.20 in the same period last year, reflecting a growth of 2.1%[28] Revenue Sources - Revenue from pig vaccines (market sales) surged by 55.20% to CNY 45,004,374.68[12] - Revenue from poultry vaccines and antibodies increased by 15.68% to CNY 45,843,451.37[12] Cash Flow Analysis - Cash flow from operating activities showed a net outflow of CNY 12,636,127.88, worsening by 102.20% compared to the previous year[9] - Cash flow from operating activities was CNY 93,733,018.71, down from CNY 99,998,502.16 in Q1 2017[33] - The net cash flow from operating activities was -12,636,127.88 RMB, compared to -6,249,219.45 RMB in the previous period, indicating a decline in operational performance[34] - The total cash inflow from operating activities was 101,205,292.86 RMB, slightly lower than 106,079,059.19 RMB in the previous period, showing a minor decline in operational cash generation[34] - Cash outflow from operating activities was 113,841,420.74 RMB, compared to 112,328,278.64 RMB in the previous period, indicating increased operational expenses[34] Investment Activities - The company reported an investment income of CNY 6,073,793.34, significantly higher than CNY 2,109,612.68 in the previous year[28] - The company received 585,000,000.00 RMB from investment recoveries, a substantial increase from 220,000,000.00 RMB in the previous period, highlighting successful investment strategies[37] - The total cash outflow from investment activities was 605,234,857.80 RMB, significantly higher than 278,854,272.50 RMB in the previous period, indicating aggressive investment spending[34] Other Financial Metrics - The weighted average return on equity increased by 0.17 percentage points to 2.40%[9] - Accounts receivable rose by 40.18% to CNY 152,069,345.07 due to increased product sales[14] - Prepayments increased by 298.86% to CNY 7,407,091.36 mainly due to prepayments for technology transfer fees and R&D materials[14] - Cash and cash equivalents decreased to CNY 238,592,605.78 from CNY 263,484,603.85, a decline of approximately 9.4%[19] - The company's inventory stood at CNY 72,061,112.36, slightly up from CNY 71,088,934.60, showing a marginal increase of about 1.4%[19] - The non-current assets totaled CNY 658,355,477.83, slightly up from CNY 653,260,826.78, reflecting a growth of about 0.4%[20] - The company's total liabilities to total assets ratio improved to approximately 12.4% from 13.1%, indicating a stronger financial position[21]

Financial Performance - Net profit attributable to shareholders decreased by 40.83% to CNY 92,422,482.76 year-to-date[8] - Operating revenue for the first nine months decreased by 10.70% to CNY 381,115,087.70 compared to the same period last year[8] - Basic earnings per share decreased by 40.82% to CNY 0.29[8] - Net profit decreased by 40.83% to ¥92,422,482.76 from ¥156,207,852.65, attributed to reduced government procurement income and lower technology licensing revenue[17] - Year-to-date net profit for the first nine months of 2017 was ¥84,787,025.41, down 42.6% from ¥147,756,797.68 in the same period last year[29] - The total profit for the first nine months of 2017 was ¥98,252,355.71, a decrease of 44.9% from ¥178,183,959.64 in the same period of 2016[35] Revenue Breakdown - Revenue from government procurement of pig vaccines dropped by 70.77% to CNY 26,518,504.53 year-to-date[14] - Revenue from market sales of pig vaccines increased by 17.19% to CNY 91,935,455.71 year-to-date[14] - Revenue from chemical drugs increased by 12.30% to CNY 113,678,947.75 year-to-date[14] Cash Flow - Cash flow from operating activities decreased by 34.27% to CNY 67,291,793.28 year-to-date[8] - Operating cash flow decreased by 34.27% to ¥67,291,793.28 from ¥102,379,283.43, mainly due to decreased accounts receivable collections[18] - Cash inflow from operating activities for the year-to-date period was CNY 389,672,430.76, a decrease of 4.4% compared to CNY 406,258,015.99 in the same period last year[37] - Net cash flow from operating activities decreased to CNY 67,291,793.28, down 34.3% from CNY 102,379,283.43 year-on-year[37] - Total cash inflow from operating activities was CNY 296,729,253.24, a decrease of 8.4% from CNY 323,765,702.52 in the same quarter last year[41] - The net cash flow from operating activities for the third quarter was CNY 54,186,567.61, down 35.0% from CNY 83,417,246.46 year-on-year[41] Assets and Liabilities - Total assets increased by 1.86% to CNY 1,769,144,640.63 compared to the end of the previous year[8] - Total assets as of September 30, 2017, were ¥1,714,697,670.33, an increase from ¥1,684,027,570.35 at the beginning of the year[27] - Total liabilities as of September 30, 2017, were ¥203,293,204.76, down from ¥212,909,606.23 at the beginning of the year[27] - Total equity attributable to shareholders was ¥1,511,404,465.57, an increase from ¥1,471,117,964.12 at the beginning of the year[27] Cash and Cash Equivalents - Cash and cash equivalents decreased by 54.79% to ¥193,776,049.33 from ¥428,628,319.95 due to the purchase of financial products[15] - Cash and cash equivalents decreased to ¥142,012,206.56 from ¥359,042,606.01 at the beginning of the year, representing a decline of 60.5%[25] - The ending balance of cash and cash equivalents was CNY 183,645,924.69, down from CNY 249,415,770.50 year-on-year[38] Investment Activities - Investment cash inflow increased by 72.29% to ¥1,318,000,000.00 from ¥765,000,000.00, primarily from the maturity of financial products[18] - Cash inflow from investment activities totaled CNY 1,331,581,811.21, significantly higher than CNY 776,396,858.43 in the previous year, marking an increase of 71.2%[38] - Cash outflow for investment activities reached CNY 1,565,644,043.93, up 64.3% from CNY 953,218,948.69 in the same period last year[38] Operating Costs - Total operating costs for Q3 2017 were ¥109,744,717.59, slightly up from ¥109,182,196.65 in Q3 2016[29] - Year-to-date total operating costs for the first nine months of 2017 were ¥307,233,949.21, an increase of 6.2% compared to ¥289,272,993.31 in the same period last year[29] - The company's operating costs for Q3 2017 were ¥24,563,831.70, down 26.0% from ¥33,133,443.16 in Q3 2016[33] Non-Recurring Items - Non-recurring gains and losses totaled CNY 18,707,229.88 for the reporting period[11] - The company reported a significant decrease in non-operating income by 39.15% to ¥20,959,315.53 from ¥34,444,535.03, due to reduced government subsidies[17] - The company reported a tax expense of ¥2,967,352.32 for Q3 2017, a decrease of 65.5% from ¥8,607,366.75 in Q3 2016[35]

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 258,267,884.63, representing a 3.41% increase compared to CNY 249,741,999.29 in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 31.33% to CNY 61,938,507.68 from CNY 90,191,727.66 year-on-year[19]. - The net profit after deducting non-recurring gains and losses was CNY 53,808,610.03, down 8.83% from CNY 59,020,462.52 in the previous year[19]. - The net cash flow from operating activities was CNY 25,950,131.79, a significant decline of 63.17% compared to CNY 70,465,691.80 in the same period last year[19]. - The total assets at the end of the reporting period were CNY 1,727,240,662.46, a decrease of 0.55% from CNY 1,736,825,580.03 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 0.56% to CNY 1,489,222,806.17 from CNY 1,480,919,703.11 at the end of the previous year[19]. - The company's basic earnings per share decreased by 32.14% to CNY 0.19 compared to the same period last year[20]. - Net profit attributable to shareholders fell by 31.33% due to a decline in government procurement revenue and a reduction in government subsidies recognized in the previous year[20]. - Operating cash flow decreased by 63.17% primarily due to reduced government subsidies received and increased payments for production materials[20]. - The company achieved revenue of CNY 258.27 million, a growth of 3.41% year-on-year, while net profit was CNY 61.94 million, down 31.33%[31]. Assets and Liabilities - Cash and cash equivalents decreased by 56.94% to ¥184,587,115.95, accounting for 10.69% of total assets[51]. - Accounts receivable dropped by 76.12% to ¥1,812,450.00, representing 0.10% of total assets[51]. - Prepayments increased by 280.09% to ¥6,513,823.90, making up 0.38% of total assets[51]. - Other current assets rose by 30.10% to ¥670,508,861.15, which is 38.82% of total assets[51]. - The company reported a 93.75% increase in available-for-sale financial assets to ¥48,727,500.00, representing 2.82% of total assets[51]. - Total current assets decreased from CNY 1,125,213,576.54 to CNY 1,069,550,812.65, a decline of approximately 4.95%[90]. - Total assets decreased from CNY 1,736,825,580.03 to CNY 1,727,240,662.46, a decline of about 0.55%[91]. - Total liabilities decreased from CNY 255,905,876.92 to CNY 238,017,856.29, a reduction of approximately 7.04%[92]. - Owner's equity increased slightly from CNY 1,480,919,703.11 to CNY 1,489,222,806.17, reflecting a growth of about 0.15%[92]. Revenue Streams and Market Performance - The company’s sales through distributors reached CNY 132.97 million, an increase of 17.46% compared to the previous year[37]. - Knowledge property trade income from cooperative research or technology licensing reached CNY 18 million, a growth of 21.21% year-on-year[34]. - The company reported a significant decline of 61.24% in government procurement product sales, totaling 18,457,839.53 RMB[50]. - The revenue from pig market sales increased by 29.66% to 59,947,524.66 RMB, indicating strong market demand[50]. - The company is advancing the development of new vaccines, with several products entering the new veterinary drug registration phase[33]. - The company is developing a new generation of vaccines and has implemented a "434 immunization reduction plan" to enhance efficiency in poultry vaccination[39]. Investments and Projects - The company established a joint venture, Zhongke Gene, focusing on animal disease detection, with two central laboratories already operational and expansion plans in multiple provinces[40]. - The construction in progress increased by 39.72% year-on-year due to investments in fundraising projects[29]. - The company introduced 13 new projects in the Zhongke Science Park, focusing on biomedicine and diagnostic reagents, enhancing its innovation capabilities[43]. - The total investment in the Huizhong Biological project reached ¥3,220.33 million, with an additional ¥88.20 million invested during the reporting period[53]. Shareholder and Governance Matters - The company did not propose any profit distribution or capital reserve transfer during this reporting period[59]. - The company has committed to not engaging in any business activities that compete with its existing operations during the control period, ensuring no conflicts of interest arise[60]. - The lock-up period for major shareholders is set for 36 months post-IPO, during which they cannot transfer or manage their shares[62]. - The company plans to stabilize its stock price by potentially repurchasing shares, with a budget of 30 million yuan allocated for this purpose[62]. - Major shareholders include Zhang Xuke with 107,619,672 shares (33.24%) and Sun Jinchong with 50,982,948 shares (15.75%)[80]. - The company reported no changes in the controlling shareholder or actual controller during the reporting period[84]. - There were no changes in the board of directors, supervisors, or senior management personnel during the reporting period[85]. Compliance and Regulatory Matters - The company guarantees that its IPO prospectus does not contain any false records or misleading statements[63]. - The company committed to repurchase all newly issued shares if any false statements or omissions are identified in the prospectus, with the repurchase price not lower than the issuance price adjusted for interest[64]. - The company will halt cash dividend plans and executive compensation if it fails to fulfill its public commitments regarding the issuance[64]. - The company has promised to compensate investors for losses incurred due to misleading statements in the prospectus[66]. - The company will disclose any unfulfilled commitments and apologize to investors if unable to meet obligations due to force majeure[68]. - The company has outlined measures to ensure compliance with social security and housing fund regulations to avoid penalties[68]. Future Outlook and Strategy - The company plans to implement a strategy for market expansion and new product development in the upcoming fiscal year[67]. - Future guidance indicates a projected revenue growth of 15% for the next quarter, driven by new product launches and market strategies[67]. - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[67]. Accounting and Financial Reporting - The financial report includes a consolidated balance sheet as of June 30, 2017, with figures reported in RMB[88]. - The company’s accounting period runs from January 1 to December 31 each year, with a business cycle of 12 months[130][131]. - The company uses RMB as its functional currency for accounting purposes[132]. - The accounting policies and estimates comply with the enterprise accounting standards, ensuring a true and complete reflection of the company's financial status and operating results[129]. - The company has undergone a change in accounting policies, which may affect future financial reporting[117]. Employee and Compensation Matters - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[73]. - The company recognizes short-term employee benefits as liabilities in the period services are provided, including social insurance and housing fund contributions[195]. - The company’s share-based payments are measured at the fair value of the equity instruments granted to employees for their services[200].

Financial Performance - Operating revenue for the first quarter was CNY 132,228,870.11, representing a 13.46% increase year-on-year[7] - Net profit attributable to shareholders decreased by 23.72% to CNY 33,371,956.54, primarily due to a large government subsidy received in the same period last year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 26.58% to CNY 29,721,142.52[7] - The weighted average return on equity decreased by 0.99 percentage points to 2.23%[7] - Total revenue for Q1 2017 was CNY 132,228,870.11, an increase of 13.9% compared to CNY 116,545,771.05 in the previous year[27] - Net profit for Q1 2017 was CNY 33,371,956.54, a decrease of 23.6% from CNY 43,750,598.06 in Q1 2016[28] - Earnings per share for Q1 2017 were CNY 0.10, down from CNY 0.14 in the previous year[29] - The total profit for Q1 2017 was ¥39,159,439.32, a decrease of 29.5% compared to ¥55,519,652.02 in the same period last year[33] - The net profit for Q1 2017 was ¥34,470,523.42, down 27.2% from ¥47,396,423.57 year-over-year[33] - The basic and diluted earnings per share for Q1 2017 were both ¥0.11, compared to ¥0.15 in the previous year, reflecting a decline of 26.7%[33] Revenue Breakdown - Revenue from pig vaccines (market sales) increased by 37.10% to CNY 28,998,299.33[14] - Revenue from poultry vaccines and antibodies grew by 57.69% to CNY 39,630,888.79[14] - Revenue from chemical drugs rose by 27.86% to CNY 35,727,568.48[14] Cash Flow and Investments - The net cash flow from operating activities was negative at CNY -6,249,219.45, a decrease of 128.07% compared to the same period last year[7] - Cash inflows from operating activities totaled ¥106,079,059.19, a decrease of 7.4% from ¥115,060,333.97 in the same period last year[36] - Cash inflows from investment activities were ¥221,886,003.86, up 120.1% from ¥100,761,938.63 year-over-year[36] - The net cash flow from investment activities was -¥56,968,268.64, worsening from -¥10,641,432.27 in the same period last year[36] - The total cash outflow from investment activities was ¥278,854,272.50, compared to ¥111,403,370.90 in the same period last year, indicating increased investment activity[39] Assets and Liabilities - The company's total assets increased by 1.28% to CNY 1,758,988,117.74 compared to the end of the previous year[7] - Total assets increased from CNY 1,736,825,580.03 to CNY 1,758,988,117.74, reflecting a growth of 1.27%[22] - Total current assets at the end of the period were CNY 1,051,559,607.91, a slight decrease of 1.4% from CNY 1,066,828,400.69 at the beginning of the year[25] - The company’s total liabilities decreased from CNY 255,905,876.92 to CNY 239,140,160.40, a reduction of 6.58%[22] - Total liabilities decreased to CNY 198,688,153.07 from CNY 212,909,606.23, reflecting a reduction of 6.7%[26] - Cash and cash equivalents decreased from CNY 428,628,319.95 to CNY 364,349,623.10, a decline of 15.00%[20] - Cash and cash equivalents at the end of the period were CNY 301,614,251.60, down from CNY 359,042,606.01 at the beginning of the year, a decline of 15.9%[24] - Inventory increased to CNY 53,967,281.02, up 16.3% from CNY 46,437,527.58 at the beginning of the year[25] - Long-term equity investments rose to CNY 329,616,972.14, a slight increase from CNY 324,111,720.05 at the start of the year[25] - Other receivables increased from CNY 7,286,352.84 to CNY 7,896,710.74, an increase of 8.36%[20] - Prepayments increased by 93.29% from CNY 1,713,739 to CNY 3,312,409 primarily due to increased advance payments for raw materials[16] Share-Based Payments - The company incurred a share-based payment expense of CNY 5,556,297.69 related to the 2016 stock incentive plan, impacting management expenses[9]

Financial Performance - The company's operating revenue for 2016 was CNY 583,102,019.53, representing a 21.95% increase compared to CNY 478,138,171.21 in 2015[24]. - The net profit attributable to shareholders for 2016 was CNY 188,002,145.22, a 32.64% increase from CNY 141,742,152.53 in 2015[24]. - The net cash flow from operating activities increased by 35.25% to CNY 253,026,482.79 in 2016, up from CNY 187,086,131.60 in 2015[26]. - The total assets at the end of 2016 were CNY 1,736,825,580.03, a 15.50% increase from CNY 1,503,703,764.15 at the end of 2015[24]. - The basic earnings per share for 2016 was CNY 0.59, up 20.41% from CNY 0.49 in 2015[25]. - The company achieved a weighted average return on equity of 13.4% in 2016, slightly down from 13.62% in 2015[25]. - The company reported a total of CNY 38,847,693.03 in government subsidies related to normal business operations in 2016[28]. - The company achieved a revenue of 583.10 million yuan in 2016, representing a year-on-year growth of 21.95%, and a net profit of 188.00 million yuan, up 32.64% from the previous year[48]. Research and Development - The company is involved in the development of new veterinary drugs and technologies, although specific financial metrics related to these developments are not provided in the extracted content[12]. - The company has applied for 392 invention patents, with 120 granted, including 7 PCT international patents, demonstrating strong R&D capabilities[40]. - R&D investment reached 58.46 million yuan, a 39.98% increase compared to the previous year, accounting for 10.03% of total revenue[48]. - The company successfully launched new veterinary vaccines, including the new-gen trivalent vaccine and the new-gen quadrivalent inactivated vaccine, marking significant technological advancements in the industry[52]. - The company has made progress in key R&D projects, with over 10 products entering the new veterinary drug registration phase, laying a solid foundation for future revenue growth[49]. - The company is developing new animal diagnostic reagents in collaboration with Beijing Wantai, with products expected to enter the new veterinary drug registration phase in 2017[66]. - The company has launched new products in the market, including a three-way inactivated vaccine for chickens[104]. - The company is focusing on the development of new poultry vaccines, with several projects expected to receive approval in 2017, which will enhance its market position in poultry vaccines[115]. Market Strategy and Expansion - The company has a focus on expanding its market presence and enhancing its product offerings in the veterinary pharmaceutical sector[12]. - The company adopted a "sales-driven production" model to align production with market demand[32]. - The company is focusing on expanding its product line in the pet and fur animal vaccine market, with several products entering the registration or clinical trial stages[41]. - The company achieved a 100% market sampling pass rate for its products for five consecutive years, ensuring quality and safety[61]. - The company plans to establish 30 third-party animal disease diagnostic laboratories nationwide through its investment in Zhongke Gene, enhancing animal health management services[64]. - The company is actively pursuing market expansion through the development of new products and technologies, aiming to enhance its competitive edge in the veterinary vaccine sector[115]. - The company aims to enhance its distribution network, targeting a 30% increase in reach within rural markets by the end of the year[124]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[5]. - There are no non-operating fund occupations by controlling shareholders or related parties, and no violations in decision-making procedures for external guarantees[8]. - The company has committed to ensuring the accuracy and completeness of the annual report, with all board members present at the meeting[9]. - The report outlines the company's governance structure and the responsibilities of its board and management[9]. - The company operates under the regulations set by the China Securities Regulatory Commission and the Shanghai Stock Exchange[12]. - The company emphasizes the importance of risk awareness regarding its future plans and strategies, advising investors to be cautious[7]. Product Quality and Safety - The company has maintained a 100% compliance rate in product quality inspections for five consecutive years, reflecting its commitment to high-quality standards[44]. - The company’s chemical drug products maintained a 100% compliance rate in market inspections, reinforcing its reputation for high-quality products[101]. - The company has established a comprehensive product quality management system and standard operating procedures to enhance product quality and market competitiveness[200]. - The company adheres to the principle of "excellence and continuous innovation" in product quality, ensuring high-quality products through strict compliance with national standards[200]. Shareholder and Financial Commitments - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares, totaling RMB 64.748 million based on a total share capital of 32.374 million shares as of December 31, 2016[6]. - The company distributed a cash dividend of 0.3 RMB per share in 2016, totaling 48 million RMB, which aligns with its ongoing cash dividend policy[167]. - The company has committed to repurchasing all newly issued shares post-IPO if profits are generated, ensuring investor protection[181]. - The company will halt cash dividend plans and stop compensating directors and senior management until it fulfills its commitments if it fails to comply with the public commitments made[179]. - The company’s prospectus does not contain any false records or misleading statements, and it assumes legal responsibility for the accuracy and completeness of the information provided[179]. Industry Trends and Competitive Landscape - The veterinary drug industry in China has seen rapid growth, with the market size increasing from 13.8 billion CNY in 2005 to 41.4 billion CNY in 2015, representing a compound annual growth rate (CAGR) of 11.61%[96]. - The competitive landscape in the veterinary drug industry is intensifying due to the entry of new players and consolidation among major international firms[97]. - The regulatory environment for veterinary drugs has improved significantly, with new policies promoting innovation and quality management in the industry[98]. - The market for animal vaccines is transitioning to a fully competitive environment, with quality becoming a critical factor for market success[146]. - The overall market size of the veterinary medicine industry is projected to expand further as the scale of farming enterprises continues to grow[144].