南京健友生化制药股份有限公司 关于调整外汇套期保值业务额度的可行性分析报告 一、调整外汇套期保值业务的必要性 随着公司海外业务的不断拓展，外汇收支规模也不断增长，为有效规避外 汇市场的风险，防范汇率波动对公司经营业绩带来的不确定影响，更好地维护 公司及全体股东的利益，公司根据实际外汇收支规模与银行等金融机构开展外 汇套期保值业务，主动应对外汇汇率波动的风险，预计将有效控制风险敞口。 二、公司开展套期保值业务的可行性 公司进行外汇套期保值业务遵循合法合规、审慎、安全、有效的原则，不进 行以投机为目的的外汇交易，所有外汇套期保值业务均以正常业务经营为基础， 以规避和防范汇率风险为目的。但是进行外汇套期保值业务也会存在一定的风险： 1、汇率波动风险：在汇率走势与公司判断汇率波动方向发生大幅偏离的情 况下，公司锁定汇率后支出的成本可能超过不锁定时的成本支出，从而造成公司 损失； 2、履约风险：外汇套期保值业务存在合约到期无法履约造成违约而带来的 风险； 3、内部控制风险：外汇套期保值业务专业性较强，复杂程度较高，可能会 由于内部控制机制不完善而造成经营风险； 4、操作风险：由于外汇套期保值交易专业性较强，复杂程度较高 ...

| 证券代码：603707 | 证券简称：健友股份 | 公告编号：2023-062 | | --- | --- | --- | | 债券代码：113579 | 债券简称：健友转债 | | 南京健友生化制药股份有限公司 第五届监事会第三次会议决议公告 本公司监事会及全体监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。 南京健友生化制药股份有限公司（以下简称"公司"或"本公司"）第五届 监事会第三次会议的通知已于 2023 年 8 月 21 日以电话及电子邮件的方式向各位 监事发出，会议于 2023 年 8 月 28 日上午 10 点整在公司会议室召开。会议应到 监事 3 人，实到监事 3 人。 3、审议通过《关于增加使用闲置自有资金进行现金管理额度的议案》 议案内容详见公司在上交所官网披露的公告。 公司监事会已审阅公司 2023 年半年度报告及其摘要，认为公司严格按照股 份公司财务制度规范运作，公司 2023 年半年度报告及其摘要全面、公允的反映 了公司本报告期的财务状况和经营成果。 表决结果：同意 3 票赞成，0 票反对，0 票弃权。 2、 ...

| 证券代码：603707 | 证券简称：健友股份 | 公告编号：2023-064 | | --- | --- | --- | | 债券代码：113579 | 债券简称：健友转债 | | 南京健友生化制药股份有限公司 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。 重要内容提示： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 09 月 11 日(星期一) 至 09 月 15 日(星期五)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 nkf-pharma@nkf-pharma.com.cn 进行提问。公司将在说明会上对投资者普遍关 注的问题进行回答。 南京健友生化制药股份有限公司（以下简称"公司"）已于 2023 年 8 月 29 日发布公司 2023 半年度报告，为便于广大投资者更全面深入地了解公司 2023 半年度经营成果、财务状况，公司计划于 2023 年 09 月 1 ...

一、《关于2023年半年度募集资金年度存放与实际使用情况的专项报告的议案》 的独立意见 南京健友生化制药股份有限公司独立董事关于 第五届董事会第三次会议中相关事项的独立意见 根据《上海证券交易所股票上市规则》及《公司章程》、公司 《独立董事 工作细则》等有关规定，我们作为南京健友生化制药股份有限公司（以下简称"公 司"）第五届董事会独立董事，经认真审查相关资料并就有关情况向公司相关人 员进行了询问。在保证所获得资料真实、准确、完整的及存储上，基于本人独立 判断，现就相关议案发表以下意见： 三、《关于调整公司外汇套期保值业务额度的议案》的独立意见 公司及子公司结合实际业务情况开展外汇套期保值业务，有利于控制外汇风 险，规避和防范汇率大幅波动对公司经营造成的不利影响，不存在损害公司和全 体股东利益的情形。同时，公司已就拟开展的外汇套期保值业务进行了相关风险 和可行性分析。同时，公司已经制定了《外汇套期保值业务管理制度》，建立了 较为完善的外汇套期保值业务内控和风险管理制度，公司采取的针对性风险控制 措施是可行有效的，相关审批程序符合国家相关法律、法规及《公司章程》的有 关规定，因此我们同意《关于调整公司外汇套期保 ...

| 股票代码：603707 | 股票简称：健友股份 | 公告编号：2023-060 | | --- | --- | --- | | 债券代码：113579 | 债券简称：健友转债 | | 南京健友生化制药股份有限公司 关于盐酸帕洛诺司琼注射液 获得美国FDA药品注册批件的公告 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。 南京健友生化制药股份有限公司（以下简称"健友股份"或"公司"）于近日收 到美国食品药品监督管理局（以下简称"美国 FDA"）签发的盐酸帕洛诺司琼注射 液，0.25 mg/5 mL (0.05 mg/mL)（ANDA 号：215861）批准信，现将相关情况公 告如下： 一、药品的基本情况 （一）药品名称：盐酸帕洛诺司琼注射液 （二）适 应 症：盐酸帕洛诺司琼注射液适用于预防中、重度致吐化疗引起 的急性恶心、呕吐。 （三）剂 型：注射液 （四）规 格：0.25 mg/5 mL (0.05 mg/mL) （五）ANDA 号：215861 （六）申 请 人：南京健友生化制药股份有限公司 二、药品其他相关情况 ...

| 证券代码：603707 | 证券简称：健友股份 | 公告编号:2023-036 | | --- | --- | --- | | 债券代码：113579 | 债券简称：健友转债 | | 南京健友生化制药股份有限公司 关于参加沪市主板生物医药行业上市公司 会议召开时间：2023 年 05 月 12 日(星期五)上午 09:00-10:00 会议召开地点：上海证券交易所上证路演中心（网址： 会议主题：沪市主板生物医药行业上市公司集体业绩说明会 会议召开方式：上证路演中心网络文字互动 息披露允许的范围内就投资者普遍关注的问题进行回答。 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个别及连带责任。 重要内容提示： http://roadshow.sseinfo.com/） 投资者可于 2023 年 05 月 05 日(星期五)至 05 月 11 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 nkf-pharma@nkf-pharma.com. ...

Financial Performance - The company's operating revenue for Q1 2023 was RMB 1,307,482,631.58, representing an increase of 11.13% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was RMB 332,325,165.30, showing a slight increase of 0.68% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 330,341,273.33, reflecting a growth of 1.30% compared to the previous year[4]. - The total operating revenue for Q1 2023 was approximately $1.31 billion, an increase from $1.18 billion in Q1 2022, representing a growth of about 11%[16]. - Net profit for Q1 2023 was approximately $332.33 million, slightly higher than $330.53 million in Q1 2022, showing a marginal increase of about 0.5%[17]. - The total profit for Q1 2023 was approximately $381.67 million, compared to $389.77 million in Q1 2022, indicating a decrease of about 2.8%[17]. Cash Flow and Investments - The net cash flow from operating activities decreased significantly by 51.41%, amounting to RMB 122,444,973.99, primarily due to higher procurement costs during the reporting period[8]. - The net cash flow from operating activities for Q1 2023 was approximately $122.44 million, down from $252.01 million in Q1 2022, a decrease of about 51%[19]. - The net cash inflow from investment activities was -90,259,769.30, compared to -188,971,631.95 in the previous period[20]. - The cash outflow for investment activities was 161,227,843.42, compared to 1,351,160,610.54 in the previous period[20]. - The cash inflow from investment activities was 70,968,074.12, compared to 1,162,188,978.59 in the previous period[20]. - The cash paid for the acquisition of fixed assets, intangible assets, and others was 39,429,198.90, compared to 185,825,053.64 in the previous period[20]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 10,742,933,428.44, an increase of 7.32% from the end of the previous year[5]. - The total assets as of March 31, 2023, amounted to RMB 10,742,933,428.44, up from RMB 10,010,102,945.14 as of December 31, 2022, indicating a growth of about 7.3%[14]. - The total liabilities as of March 31, 2023, were RMB 4,243,620,026.59, compared to RMB 3,842,932,928.85 at the end of 2022, representing an increase of about 10.5%[14]. - Short-term borrowings increased to RMB 2,345,673,132.43 from RMB 1,956,863,361.92, which is an increase of approximately 19.8%[13]. Shareholder Information - The equity attributable to shareholders of the listed company was RMB 6,502,784,183.06, which is a 5.38% increase compared to the previous year[5]. - The equity attributable to shareholders of the parent company rose to RMB 6,502,784,183.06 from RMB 6,170,641,484.29, indicating an increase of approximately 5.4%[14]. - The total number of ordinary shareholders at the end of the reporting period was 21,253[9]. Earnings and Expenses - The basic earnings per share for the reporting period was RMB 0.21, while the diluted earnings per share was RMB 0.20, a decrease of 4.76%[5]. - The weighted average return on net assets was 5.24%, down by 0.72 percentage points from the previous year[5]. - Research and development expenses increased to approximately $67.64 million in Q1 2023 from $53.46 million in Q1 2022, reflecting a growth of about 26.5%[16]. - The company reported a tax expense of approximately $49.34 million for Q1 2023, down from $59.24 million in Q1 2022, a reduction of about 16.6%[17]. Other Financial Metrics - The company reported non-recurring gains of RMB 1,983,891.97 for the period, after accounting for tax effects[7]. - The company recorded other comprehensive income after tax of approximately -$1.30 million in Q1 2023, compared to -$597.61 thousand in Q1 2022, indicating a worsening of about 117%[17]. - Cash received from sales of goods and services in Q1 2023 was approximately $974.83 million, a decrease from $1.03 billion in Q1 2022, representing a decline of about 5.1%[19]. - The ending balance of cash and cash equivalents was 654,862,790.85, compared to 667,705,647.21 in the previous period[20].

Financial Performance - The company's operating revenue for 2022 was CNY 3,712,720,455, representing a 0.71% increase compared to 2021 [22]. - The net profit attributable to shareholders for 2022 was CNY 1,090,833,203.91, reflecting a 2.98% increase year-over-year [22]. - The net cash flow from operating activities decreased by 12.90% to CNY 595,445,673.26 in 2022 [22]. - The total assets at the end of 2022 reached CNY 10,010,102,945.14, a 21.82% increase from the previous year [22]. - The basic earnings per share for 2022 remained stable at CNY 0.67, while diluted earnings per share slightly decreased by 1.47% to CNY 0.67 [23]. - The weighted average return on equity for 2022 was 18.82%, down 6.47 percentage points from 2021 [24]. - The company reported a total of CNY 10,548,964.43 in non-recurring gains and losses for 2022 [30]. - The company achieved total operating revenue of CNY 371,272.05 million, a year-on-year increase of 0.71%, while total profit decreased by 1.53% to CNY 118,536.93 million [67]. - The net profit attributable to shareholders increased by 2.98% to CNY 109,083.32 million, with a net profit of CNY 108,028.42 million after deducting non-recurring gains and losses, reflecting a growth of 5.49% [67]. Research and Development - R&D investment amounted to 24,582.47 million RMB, representing 3.86% of operating revenue and 10.06% of net assets [123]. - The company's R&D investment as a percentage of operating revenue was 8.39%, higher than the industry average of 17,953.70 million RMB [125]. - The R&D investment capitalized ratio was 15.39%, indicating a reasonable alignment with the company's project development progress [126]. - Major R&D projects included RD-2021-NP006(Z) with an investment of 3,261.65 million RMB, showing a year-on-year increase of 268.40% [127]. - The company has 58 ongoing research projects, with 32 projects submitted for approval, focusing on high-demand therapeutic areas such as anti-infection and anti-tumor drugs [113]. - The company is focusing on expanding its product portfolio with new drug applications, particularly in the fields of antibiotics and oncology [117]. - The company has a strong pipeline with 9 projects currently under U.S. approval, indicating robust growth potential [119]. - The company is actively pursuing regulatory approvals in Europe for several products, enhancing its market reach [119]. Market Expansion and Strategy - The company is focused on entering the international pharmaceutical market with its capabilities [3]. - The company aims to establish a comprehensive commercial competitive capability in the U.S. market, focusing on both small molecule and large biological drugs [36]. - The company is expanding its product pipeline in the U.S. market to approximately 40 products, enhancing its market presence and profitability [34]. - The company is actively exploring the nucleic acid drug field and has developed platforms for small molecules, peptides, and complex formulations [59]. - The company is expanding its business in European and other global markets, leveraging its production and quality advantages to enhance its influence in the global heparin market [50]. - The company aims to provide differentiated CDMO services in the biopharmaceutical sector, capitalizing on its global regulatory experience to achieve higher value service revenues [52]. - The company is committed to expanding its market presence by rapidly increasing the number of its formulations in hospitals and boosting sales volume per hospital [149]. Corporate Governance and Compliance - The company emphasizes its commitment to the authenticity, accuracy, and completeness of the annual report, with all board members present at the meeting [4]. - The company has established specialized committees under the board, including an audit committee and a strategic committee [182]. - The company's governance practices comply with relevant laws and regulations, ensuring transparency and protection of shareholder rights [159]. - The company has actively engaged with minority shareholders to gather feedback and ensure their rights are upheld [160]. - The board of directors held six meetings during the year, with three conducted in person and three via communication methods [180]. Dividend Policy - The company plans to distribute a cash dividend of 1.15 CNY per 10 shares to all shareholders, pending approval at the 2022 annual general meeting [5]. - The company has a cash dividend policy that mandates a minimum of 10% of distributable profits to be distributed as cash dividends if conditions are met [194]. - The company reported a net profit attributable to ordinary shareholders of RMB 1,090,833,203.91, with a cash dividend amounting to RMB 185,963,610.74, representing 17.05% of the net profit [198]. - The company did not propose a cash profit distribution plan despite having positive profits available for distribution to shareholders [197]. Operational Highlights - The company has six sterile injection production lines approved by the US FDA, enhancing its production capacity [37]. - The company has established a strong position in the sterile injectable market, being one of the largest exporters of injectables in China, with a significant share of its formulation business coming from exports to the U.S. [94]. - The company has multiple sterile injectable production lines certified by the FDA, enhancing its competitive advantage in the international market [95]. - The company has successfully shortened the product development and approval cycle, with several products approved within approximately 10 months [95]. - The company has established a solid supply system with upstream raw material suppliers, enhancing operational efficiency [155]. Financial Position and Assets - As of December 31, 2022, the company reported total assets of CNY 1,001,010.29 million and equity attributable to shareholders of CNY 617,064.15 million [67]. - Cash and cash equivalents at the end of the period reached ¥1,388,512,343.62, accounting for 13.87% of total assets, a 110.84% increase compared to the previous period [89]. - Short-term borrowings increased to ¥1,956,863,361.92, representing 19.55% of total assets, a 24.59% increase from the previous period [90]. - The company reported a significant increase in other equity investments to ¥61,602,536.03, up 222.07% from ¥19,127,100.00 in the previous period [90]. Employee and Management - The total number of employees increased by 10% in 2022, reflecting the company's growth and expansion strategy [168]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 4.248 million yuan [174]. - The company has a performance evaluation system linked to employee roles and skills, promoting a culture of participation in management [191]. - The company has a training plan that includes differentiated courses for various employee levels, focusing on both technical and managerial skills [192].

Financial Performance - The company's operating revenue for Q3 2022 was ¥875,675,273.25, a decrease of 14.88% compared to the same period last year[4] - The net profit attributable to shareholders for Q3 2022 was ¥293,011,013.59, an increase of 1.33% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥284,457,562.46, a decrease of 0.72% compared to the same period last year[4] - The basic earnings per share for Q3 2022 was ¥0.18, unchanged from the previous quarter[5] - The diluted earnings per share for Q3 2022 was also ¥0.18, reflecting a 5.88% increase compared to the same period last year[5] - The weighted average return on equity for Q3 2022 was 4.98%, a decrease of 1.73 percentage points year-on-year[5] - The net profit for the third quarter of 2022 was ¥904,845,162.80, compared to ¥845,424,873.37 in the third quarter of 2021, representing a 7% increase[22] - The total profit for the third quarter of 2022 was ¥1,050,013,815.96, compared to ¥975,438,736.30 in the same quarter of 2021, marking a 7.6% increase[22] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥9,880,183,453.50, representing a 20.24% increase from the end of the previous year[5] - The equity attributable to shareholders at the end of Q3 2022 was ¥6,016,173,464.26, an increase of 11.87% compared to the end of the previous year[5] - Total liabilities increased to RMB 3,864,057,563.03 from RMB 2,814,131,012.41, marking a rise of approximately 37.3%[19] - The company's total equity, including minority interests, was RMB 6,016,125,890.47, compared to RMB 5,402,757,039.30, indicating an increase of about 11.4%[20] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥631,513,877.83, reflecting a significant increase of 156.89% due to increased sales collections[9] - Cash flow from operating activities for the first three quarters of 2022 was ¥3,023,579,375.42, significantly higher than ¥2,470,372,441.72 in the same period of 2021, showing improved cash generation[24] - Net cash flow from operating activities amounted to ¥631,513,877.83, a significant increase from ¥245,829,942.23 in the previous year, representing a growth of approximately 156.5%[25] - Net cash flow from financing activities was ¥357,359,861.61, a turnaround from a negative cash flow of -¥346,177,912.88 in the same period last year[26] Investments and Expenses - Total operating costs amounted to ¥1,821,077,069.00, up from ¥1,798,866,892.44, reflecting a 1.2% increase year-over-year[21] - Research and development expenses for the first three quarters of 2022 were ¥161,520,139.29, slightly up from ¥153,264,424.78 in the same period of 2021, indicating a focus on innovation[21] - The company reported a financial asset impairment loss of ¥3,384,819.01 in the third quarter of 2022, a recovery from a loss of ¥27,843,190.83 in the same quarter of 2021[22] - Cash paid to employees increased to ¥214,313,933.48 from ¥153,226,802.21, reflecting a rise of approximately 39.9%[25] - Cash outflow for taxes paid was ¥264,822,852.55, up from ¥162,258,331.57, indicating an increase of about 63.2% year-over-year[25] Tax and Other Income - The company received tax refunds amounting to ¥201,671,849.42, compared to ¥138,344,216.92 in the previous year, marking an increase of about 45.7%[25] - The company’s tax expenses for the third quarter of 2022 were ¥145,168,653.16, compared to ¥130,013,862.93 in the same quarter of 2021, reflecting a higher tax burden due to increased profits[22] - Other comprehensive income after tax for the third quarter of 2022 was ¥1,034,823.52, a recovery from a loss of ¥1,185,252.00 in the same quarter of 2021, indicating improved overall financial health[23] Inventory and Receivables - Inventory levels rose to RMB 5,534,436,220.46, compared to RMB 4,894,249,940.61 in the previous year, representing an increase of 13.1%[18] - The company’s accounts receivable stood at RMB 828,449,817.18, slightly down from RMB 837,304,413.97, showing a decrease of approximately 1.0%[16]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2022, representing a year-on-year increase of 15%[9]. - The net profit attributable to shareholders was 300 million RMB, up 20% compared to the same period last year[9]. - The company's operating revenue for the first half of the year reached ¥1,975,323,375.33, representing a 12.79% increase compared to the same period last year[16]. - Net profit attributable to shareholders was ¥614,035,642.75, an increase of 10.53% year-over-year[16]. - The company achieved a revenue of 1,975.32 million yuan in the first half of 2022, representing a year-on-year growth of 12.79%[37]. - The net profit attributable to the parent company reached 614.04 million yuan, an increase of 10.53% compared to the previous year, driven by the growth in formulation sales[37]. - The company reported a total operating cash inflow of RMB 2,324,932,548.70, compared to RMB 1,885,390,155.93 in the previous year, marking an increase of about 23.3%[150]. Research and Development - The R&D expenditure increased by 25% year-on-year, amounting to 150 million RMB, reflecting the company's commitment to innovation[9]. - The R&D team consists of nearly 400 personnel, including around 60 with master's or doctoral degrees, enhancing the company's innovation capabilities[40]. - The company is committed to improving its original innovation capabilities and strengthening drug regulatory research to align with national health planning[23]. - The company is enhancing its research and development efforts for cost-effective medications, particularly in the field of mental health and long-acting injectables[23]. - The company is leveraging its strong R&D capabilities to enhance its product pipeline, focusing on key disease areas such as oncology and immunology[47]. Market Expansion - The company has expanded its user base by 10% in the first half of 2022, reaching a total of 1.5 million active users[9]. - The company is actively pursuing market expansion in Southeast Asia, aiming for a 15% market share by the end of 2023[9]. - The company is exploring global markets for its sterile injectables, aiming to expand its international presence[24]. - The company is expanding its business in Europe and other global markets, leveraging its production and quality advantages to enhance its influence in the global heparin market[31]. - The company has successfully entered the European and South American markets with its enoxaparin injection, utilizing local partnerships for market penetration[37]. Product Development - The company plans to launch three new products in the second half of 2022, focusing on innovative biopharmaceuticals[9]. - The product pipeline includes Daptomycin for Injection, indicated for complex skin and skin structure infections, and Vancomycin HCl for Injection, effective against severe infections caused by methicillin-resistant Staphylococcus aureus[28]. - The company is developing new products such as Ganirelix Injection for preventing premature LH surge in women undergoing controlled ovarian stimulation[28]. - The company reported a focus on expanding its product line to include innovative treatments for chronic diseases, such as Doxercalciferol Injection for secondary hyperparathyroidism in dialysis patients[27]. - The company is actively pursuing market expansion strategies, particularly in the area of oncology with products like Bendamustine Hydrochloride Injection for chronic lymphocytic leukemia and non-Hodgkin lymphoma[29]. Strategic Partnerships - The company has entered into a strategic partnership with a leading international pharmaceutical firm to enhance its distribution network[9]. - The company is exploring potential mergers and acquisitions to enhance its market position and expand its product portfolio[9]. - The company is exploring strategic partnerships and collaborations to accelerate the development and commercialization of its product pipeline[29]. Financial Position - The total assets at the end of the reporting period were ¥9,409,711,667.98, reflecting a 14.52% increase from the end of the previous year[16]. - The company's total assets reached approximately CNY 9.41 billion, an increase from CNY 8.22 billion at the beginning of the period, reflecting a growth of about 14.5%[134]. - The total liabilities increased to CNY 3.55 billion from CNY 2.81 billion, marking a rise of approximately 26.3%[134]. - The company's debt-to-asset ratio remains reasonable, indicating good credit status and the ability to repay debts through stock conversion or operational cash flow[133]. Environmental Responsibility - The company is listed as a key pollutant discharge unit in Nanjing, adhering to environmental regulations and promoting green development[73]. - The company has implemented strict pollution discharge standards, including the "Pharmaceutical Industry Air Pollutants Discharge Standard" and "Comprehensive Wastewater Discharge Standard"[74]. - The company has actively engaged in energy conservation and emission reduction initiatives as part of its corporate social responsibility[73]. - The company has established an emergency response plan for environmental incidents, filed with the local environmental protection bureau[82]. Risk Management - The company faces industry policy risks due to increasing regulatory scrutiny in the pharmaceutical sector, which could significantly impact future development[62]. - The company has established a comprehensive risk management system to enhance quality control and maintain product stability, particularly for heparin products[63]. - Rising raw material prices, particularly for crude heparin, pose a significant risk to production costs, influenced by supply-demand dynamics exacerbated by African swine fever[64]. Corporate Governance - The company appointed Qian Xiaojie as the new financial officer following the resignation of Huang Xiwei, who will continue as president and board secretary[69]. - The company did not propose any profit distribution or capital reserve transfer for the reporting period[70]. - The company has no significant related party transactions that have not been disclosed in temporary announcements[100].