证券代码：603880 证券简称：南卫股份 公告编号：2023-033 江苏南方卫材医药股份有限公司 关于召开 2022 年度业绩暨现金分红说明会的公告 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/） 会议召开方式：上证路演中心网络互动 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 info@nanfangmedical.com 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。 江苏南方卫材医药股份有限公司（以下简称"公司"）已于 2023 年 4 月 28 日发布公司 2022 年度报告，为便于广大投资者更全面深入地了解公司 2022 年度 经营成果、财务状况，公司计划于 2023 年 05 月 12 日上午 10:00-11:00 举行 2022 年度业绩暨现金分红说明会，就投资者关心的问题进行交流。 一、说明会类 ...

2022 年第三季度报告 证券代码：603880 证券简称：南卫股份 江苏南方卫材医药股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 2022 年第三季度报告 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人李平、主管会计工作负责人项琴华及会计机构负责人（会计主管人员）王亚华保 证季度报告中财务信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比 上年同期增 减变动幅度 | 年初至报告期末 | 年初至报告期末 比上年同期增减 | | --- | --- | --- | --- | --- | | | | (%) | | 变动幅度(%) | | 营业收入 | 137,375,613.31 | -3.85 | 393,088,498.32 | ...

2022 年第三季度报告 证券代码：603880 证券简称：南卫股份 江苏南方卫材医药股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人李平、主管会计工作负责人项琴华及会计机构负责人（会计主管人员）王亚华保 证季度报告中财务信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 2022 年第三季度报告 | 经营活动产生的现金 | 不适用 | 不适用 | 12,362,750.22 | 不适用 | | --- | --- | --- | --- | --- | | 流量净额 | | | | | | 基本每股收益（元/股） | 0.0031 | -74.37 | 0.03 | -40.00 | | 稀释每股收益（元/股） | 0.0031 | -74.23 | 0.03 | -40.00 ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 255,712,885.01, a decrease of 2.54% compared to CNY 262,370,249.21 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2022 was CNY 7,086,905.15, down 36.82% from CNY 11,216,493.04 in the previous year[17]. - Basic earnings per share decreased to CNY 0.024, down 36.84% from CNY 0.038 in the same period last year[18]. - The company reported a slight decrease of 0.97% in net profit after deducting non-recurring gains and losses, amounting to CNY 6,675,713.98 compared to CNY 6,741,322.81 in the previous year[17]. - The company achieved a revenue of 255.71 million yuan in the first half of 2022, a decrease of 2.54% year-on-year, and a net profit attributable to shareholders of 7.09 million yuan, down 36.82% year-on-year[46]. - The company reported a decrease in gross profit margin due to rising costs, with gross profit for the first half of 2022 at CNY 47,119,575.45 compared to CNY 59,773,554.49 in the previous year[134]. Cash Flow and Assets - The net cash flow from operating activities improved to CNY 21,192,688.41, compared to a negative cash flow of CNY -30,602,512.86 in the same period last year[17]. - The total assets increased by 11.52% to CNY 1,377,466,034.64 from CNY 1,235,190,728.96 at the end of the previous year[17]. - The company's cash and cash equivalents decreased to CNY 140,201,081.41 from CNY 152,815,444.27, reflecting a decline of approximately 8.5%[126]. - Accounts receivable increased to CNY 129,827,367.48 from CNY 107,324,765.46, representing a growth of about 20.9%[126]. - Inventory rose significantly to CNY 292,299,283.05 from CNY 216,813,857.94, marking an increase of approximately 34.8%[126]. - The company's total liabilities reached CNY 715,731,058.57, up from CNY 580,293,887.15, which is an increase of approximately 23.3%[128]. Market and Industry Position - The company is engaged in the production and sales of transdermal products, medical adhesive tapes, bandages, first aid kits, protective gear, and nursing products, positioning itself as a high-tech enterprise in the pharmaceutical manufacturing industry[27]. - The medical dressing industry in China is experiencing low market concentration, with many small regional enterprises competing primarily in the low-end market[26]. - The company anticipates that the demand for medical and health services will continue to rise, supported by increased government investment in public health infrastructure[26]. - The company is committed to expanding its market share in the medical dressing sector as industry concentration improves, favoring larger, well-managed enterprises[26]. - The company has established a strong market position as a leading medical device manufacturer in China, leveraging over 30 years of operational experience and a focus on ODM business models to meet domestic and international customer demands[39]. Research and Development - R&D expenses for the reporting period amounted to 14.85 million yuan, an increase of 6.74% compared to the same period last year, focusing on new external formulations and transdermal delivery technologies[47]. - The company emphasizes technology research and development, collaborating with Zhejiang University to advance transdermal drug delivery technologies and develop new transdermal products[40]. - The company is focusing on the development of new products, including transdermal products and first aid kits, to meet evolving market needs[28][30]. Risk Factors - The decrease in net profit was primarily due to a decline in operating revenue and an increase in operating costs, influenced by rising transportation and material costs due to the pandemic[19]. - The company has not disclosed any significant risks that could materially affect its operations during the reporting period[5]. - The company faces product liability risks that could damage its reputation and operational capabilities due to unforeseen factors such as litigation and arbitration[73]. - The company is facing challenges in maintaining profit margins due to increased competition in the market for disposable protective equipment[26]. - The company has not reported any significant integrity issues or large debts due during the reporting period[105]. Environmental and Compliance - The company has implemented effective environmental protection measures, including wastewater treatment and emissions control, complying with relevant standards[84]. - The company adheres strictly to national environmental laws and regulations, reflecting its commitment to sustainable practices[86]. - The company has developed an emergency response plan for environmental incidents, enhancing its capability to manage unexpected environmental events[86]. Shareholder and Governance - The company has not proposed any profit distribution or capital reserve transfer plans for the first half of 2022[80]. - The company plans to repurchase and cancel a total of 3.432 million restricted stocks due to unmet performance targets in 2021[81]. - The company’s major shareholders and management have committed to not selling their shares for six months after any stock buyback, ensuring stability in shareholding[90]. - The company will monitor and ensure compliance with the commitments made by its major shareholders and management to protect investor interests[96]. Legal and Disputes - The company has initiated legal proceedings against Changzhou Yierman Bedding Products Co., Ltd. for a contract dispute, claiming a refund of RMB 3.5807 million and a penalty of RMB 0.111 million[104]. - The company has recognized bad debts amounting to RMB 5.4510 million from a contract dispute with Beijing Sentai Weiye International Trade Co., Ltd.[103]. - The company is actively pursuing legal actions to recover amounts owed from various counterparties[103].

Financial Performance - The company's total revenue for 2021 was ¥527,440,662.01, representing a decrease of 50.82% compared to ¥1,072,399,917.76 in 2020[22] - The net profit attributable to shareholders for 2021 was -¥22,762,007.90, a significant decline from a profit of ¥98,067,613.55 in 2020[22] - The net cash flow from operating activities was -¥84,252,019.54, compared to ¥154,122,592.63 in the previous year, indicating a substantial decrease in operational cash generation[22] - The company's operating revenue for 2021 was CNY 527.44 million, a decrease of CNY 544.96 million compared to the previous year[31] - The net profit attributable to shareholders of the parent company was CNY -22.76 million, a decrease of CNY 120.83 million year-on-year[31] - Basic earnings per share were CNY -0.0778, down from CNY 0.3426 in 2020[24] - The weighted average return on equity was -3.42%, a decrease of 19.43 percentage points compared to 2020[24] - The company reported a gross margin of 20.71%, down 13.16 percentage points from the previous year[70] Shareholder and Governance - The company plans not to distribute profits or increase capital reserves for 2021 due to the negative net profit situation[4] - The company has a three-year shareholder return plan in place, which will be considered in future profit distribution decisions[4] - The company held 5 shareholder meetings and 12 board meetings during the reporting period to strengthen corporate governance[31] - The company emphasizes investor relations, maintaining communication with shareholders and stakeholders to protect their interests and enhance corporate value[147] - The company adheres to strict information disclosure practices, ensuring transparency and compliance with relevant regulations[148] - The company has a cash dividend policy that stipulates a minimum of 25% of distributable profits must be distributed as cash dividends when conditions allow[173] Risk Management - The company has not identified any significant risks that could materially affect its operations during the reporting period[7] - The company is facing risks from intensified market competition and potential changes in industry regulations that could impact its operations[132][133] - The company faces risks from changes in the overseas market environment, which may adversely affect its operations due to political, economic, and trade policy factors[134] - Fluctuations in exchange rates could impact the company's performance, particularly as export revenues are primarily settled in USD and EUR, with potential adverse effects if the RMB experiences significant volatility[135] Research and Development - The company invested CNY 30.623 million in R&D during the reporting period, a decrease of 9.83% compared to the previous year, focusing on new topical formulations and transdermal drug delivery technologies[34] - The company emphasizes technology research and development as a key competitive advantage, focusing on transdermal drug delivery technology improvements and stem cell-based tissue regeneration[59] - The company has established a "New Transdermal Preparation Research Center" in collaboration with Zhejiang University to enhance its R&D capabilities[59] - The company added 4 invention patents and 9 utility model patents during the reporting period, totaling 11 invention patents and 33 utility models[95] Product Development and Market Strategy - The company plans to expand its product line by adding a high-end medical glove production line, particularly focusing on nitrile gloves, which have shown rapid growth in the market[35] - The company is focusing on expanding its nitrile glove production capacity, which is expected to enhance market competitiveness[89] - The company is committed to improving its product offerings in the medical supplies sector, including various types of adhesive bandages and medical gloves[92] - The company is exploring the development of solvent-free medical adhesives and improving transdermal drug delivery technologies[97] Operational Efficiency - The company has a procurement model based on "sales-driven ordering," ensuring raw materials are sourced according to production orders[54] - The production model is "sales-driven production," allowing the company to adapt to customer demands and maintain service quality for large clients[55] - The company has a management team with extensive experience and a structured management system covering all operational aspects[62] - The company is committed to maintaining product quality and reducing production costs through improved procurement and supplier management[34] Environmental and Social Responsibility - The company has implemented measures to prevent water pollution, including a rainwater drainage system and proper disposal of hazardous waste[184] - The company actively engages in clean production practices and regularly maintains its environmental facilities to comply with national regulations[186] - The company has established a social responsibility management system, emphasizing a people-oriented approach and continuous improvement[188] - Employee wages have been steadily increased, with the company providing social insurance and housing funds for all employees[188] Financial Management - The company has successfully reduced its debt levels, improving its financial stability and credit rating[152] - The company is committed to optimizing its resource allocation and improving financial management to reduce costs and enhance profitability[128] - The company is seeking long-term partnerships with strategic suppliers and sales channels to build a stable production and sales integration[129] Strategic Partnerships and Acquisitions - The company is expanding its business into the cosmetics sector through a partnership with Shanghai Meilianni Cosmetics Co., transferring all related business qualifications and assets[198] - South Health Co. acquired 60% equity of Meilinni Bio from Shanghai Meilinni Cosmetics Co., with a transfer price of 12.8 million yuan based on financial status and future performance forecasts[200]

Financial Performance - The company's operating revenue for Q1 2022 was CNY 143,042,582.58, representing a year-on-year increase of 0.95%[5] - The net profit attributable to shareholders decreased by 26.31% to CNY 6,726,764.33 compared to the same period last year[5] - Basic and diluted earnings per share both fell by 25.81% to CNY 0.023[5] - The net profit for Q1 2022 was CNY 6,601,990.71, a decrease of 26.5% compared to CNY 8,980,922.60 in Q1 2021[17] - The total comprehensive income for Q1 2022 was CNY 6,601,990.71, down from CNY 8,980,922.60 in Q1 2021[18] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -25,084,420.24, a decline of 54.38% year-on-year[5] - The operating cash flow net amount was -CNY 25,084,420.24, an improvement from -CNY 54,987,217.80 in Q1 2021[20] - The company's cash and cash equivalents decreased to CNY 105,888,454.29 from CNY 152,815,444.27 as of December 31, 2021, a decline of 30.67%[12] - The cash and cash equivalents at the end of the period were CNY 72,403,784.09, a decrease from CNY 253,432,324.99 at the end of Q1 2021[20] Assets and Liabilities - Total assets at the end of the reporting period increased by 7.63% to CNY 1,329,431,755.29 compared to the end of the previous year[6] - Total liabilities increased to CNY 674,228,104.44 from CNY 580,293,887.15, reflecting a rise of 16.16%[14] - Non-current assets totaled CNY 743,926,568.53, compared to CNY 647,299,487.79, indicating an increase of 14.91%[13] - Short-term borrowings increased significantly to CNY 443,614,595.56 from CNY 352,230,315.56, a rise of 26.00%[13] Shareholder Information - The company has 18,186 common shareholders as of the reporting period[8] - The top shareholder, Li Ping, holds 43.4% of the shares, amounting to 127,025,048 shares, with a portion pledged[9] - The equity attributable to shareholders increased slightly by 0.15% to CNY 650,745,369.69[6] Operational Costs and Expenses - Total operating costs for Q1 2022 were CNY 137,739,528.05, up from CNY 133,269,629.14 in Q1 2021, reflecting an increase of 3.52%[16] - The company faced increased costs due to rising raw material prices, higher depreciation, and increased financial expenses, impacting profitability[7] - Research and development expenses were CNY 7,271,150.60, slightly down from CNY 7,577,590.98 in the previous year[17] - The company incurred interest expenses of CNY 3,922,079.33, significantly higher than CNY 1,582,133.34 in the previous year[17] Investment Activities - The total investment activities cash outflow was CNY 109,982,766.05, compared to CNY 61,100,480.31 in the previous year, indicating increased investment activity[20] - The financing activities generated a net cash flow of CNY 83,654,932.16, up from CNY 56,009,567.78 in Q1 2021[20] Market and Product Development - The company did not report any new product developments or market expansion strategies during this quarter[11]

Financial Performance - The company's operating revenue for Q3 2021 was ¥142,882,982.40, a decrease of 21.26% compared to the same period last year, and a year-to-date revenue of ¥405,253,231.61, down 55.49% year-on-year[3]. - The net profit attributable to shareholders for Q3 2021 was ¥3,522,074.22, a decline of 46.62% year-on-year, with a year-to-date net profit of ¥14,738,567.26, down 83.96% compared to the previous year[3]. - The basic earnings per share for Q3 2021 was ¥0.012, a decrease of 46.62%, and the diluted earnings per share also decreased by 46.62% to ¥0.012[4]. - Total operating revenue for the first three quarters of 2021 was CNY 405,253,231.61, a decrease of 55.5% compared to CNY 910,547,636.67 in the same period of 2020[16]. - Net profit for Q3 2021 was CNY 14,519,060.14, a decline of 84.7% compared to CNY 92,631,179.32 in Q3 2020[18]. - Operating profit for Q3 2021 was CNY 19,210,439.71, a decrease of 81.3% from CNY 102,445,407.46 in Q3 2020[17]. - Total comprehensive income for Q3 2021 was CNY 14,519,060.14, a significant drop from CNY 92,631,179.32 in Q3 2020[18]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was -¥32,528,313.83, representing a decrease of 123.06% year-on-year[3]. - Cash flow from operating activities for the first three quarters of 2021 was negative CNY 32,528,313.83, compared to positive CNY 141,031,803.96 in the same period of 2020[21]. - The company reported a net cash outflow from investing activities of CNY 234,883,824.25 in Q3 2021, compared to a net outflow of CNY 83,340,175.25 in Q3 2020[21]. - Total cash outflow from financing activities was $528.65 million, compared to $297.11 million in the previous year, representing an increase of 77.8%[22]. - Net cash flow from financing activities was $124.72 million, up from $85.27 million, indicating a growth of 46.3% year-over-year[22]. - The beginning cash and cash equivalents balance was $311.94 million, up from $188.67 million, reflecting a growth of 65.3% year-over-year[22]. - The ending cash and cash equivalents balance was $167.59 million, down from $325.57 million, indicating a decline of 48.6%[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,260,948,593.24, an increase of 17.56% from the end of the previous year[4]. - Current assets totaled RMB 599,342,501.34, down from RMB 644,235,238.02 at the end of 2020, primarily due to a decrease in cash and cash equivalents[13]. - Accounts receivable increased to RMB 131,615,649.15 from RMB 94,511,722.38, reflecting a growth of approximately 39.3% year-over-year[13]. - Inventory rose significantly to RMB 166,452,134.24, compared to RMB 118,375,103.72 at the end of 2020, indicating a growth of about 40.6%[13]. - Total liabilities increased to RMB 567,053,197.43 from RMB 371,840,580.60, representing a growth of approximately 52.5%[15]. - Short-term borrowings surged to RMB 341,318,240.00, up from RMB 177,624,500.00, marking an increase of about 92.0%[14]. - The company's equity attributable to shareholders decreased slightly to RMB 688,726,530.89 from RMB 696,791,263.63[15]. - The company reported a decrease in cash and cash equivalents to RMB 197,239,620.62 from RMB 325,210,428.12, a decline of approximately 39.3%[13]. Operational Challenges - The decrease in revenue and profit was primarily due to a reduction in sales of epidemic prevention protective products and a decline in gross profit margin[8]. - The company experienced a significant increase in inventory levels due to rising raw material prices and the production of nitrile gloves, impacting cash flow[8]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,097[10]. Research and Development - Research and development expenses for Q3 2021 were CNY 22,822,980.02, up 12.3% from CNY 20,318,391.23 in Q3 2020[17]. Corporate Activities - The company has not disclosed any new product developments or market expansion strategies during this reporting period[12]. - There are no significant mergers or acquisitions reported in the current quarter[12]. - The company has not adopted the new leasing standards for the current year[22].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥262,370,249.21, a decrease of 64.01% compared to ¥729,093,174.95 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2021 was ¥11,216,493.04, down 86.52% from ¥83,215,991.64 in the previous year[19]. - The net cash flow from operating activities was -¥30,602,512.86, a decline of 121.60% compared to ¥141,696,341.32 in the same period last year[19]. - Basic earnings per share for the first half of 2021 were ¥0.038, down 86.62% from ¥0.284 in the same period last year[20]. - The weighted average return on net assets decreased by 12.25 percentage points to 1.60% from 13.85% in the previous year[20]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a decrease of 91.79% to ¥0.023 per share[20]. - The company's operating revenue decreased due to a reduction in sales of epidemic prevention protective products[21]. - Net profit attributable to shareholders of the listed company decreased primarily due to the decline in operating revenue[21]. - Earnings per share decreased mainly due to the reduction in net profit attributable to shareholders of the listed company[21]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,216,831,313.95, an increase of 13.44% from ¥1,072,645,455.80 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 1.66% to ¥685,204,456.67 from ¥696,791,263.63 at the end of the previous year[19]. - Total liabilities reached CNY 526,359,635.07, compared to CNY 371,840,580.60, showing an increase of around 41.5%[129]. - Short-term borrowings surged to CNY 321,796,260.00 from CNY 177,624,500.00, representing an increase of approximately 81.0%[129]. Research and Development - The company invested RMB 13.91 million in R&D, an increase of 26.56% compared to the same period last year, focusing on new external preparations and transdermal delivery technology[46]. - The company has developed a strong technical research and development capability, leading in technologies such as adhesive perforation and high water absorption hydrogel preparation[38]. - The company has established a collaborative research platform with Zhejiang University, focusing on transdermal drug delivery technologies and micro-needle drug delivery systems[39]. Market Position and Strategy - The company has established a strong market position as a leading medical device manufacturer in China, leveraging over 30 years of operational experience and the cluster effect of the textile industry in the Yangtze River Delta region[37]. - The company primarily operates under an ODM model, while also increasing the development and market expansion of its own brand products, including first aid kits, sports protection products, and protective gear[35]. - The company is actively pursuing international markets, but faces risks from geopolitical and economic factors that could impact its operations[69]. - The company is exploring potential mergers and acquisitions to strengthen its market position[153]. Compliance and Governance - The company has obtained GMP certification and relevant production licenses, ensuring compliance with national quality management standards for medical devices[71]. - The company emphasizes compliance with the Company Law and Securities Law in all share repurchase and purchase activities[90]. - The company has passed resolutions to revise governance documents, reflecting ongoing improvements in corporate governance practices[76]. Environmental and Social Responsibility - The company has implemented measures for wastewater management, including connecting domestic wastewater to the local sewage treatment plant[82]. - The company has established solid waste disposal protocols, with hazardous waste managed by qualified units[84]. - The company has developed an emergency response plan for environmental incidents, enhancing its emergency management capabilities[84]. Shareholder Commitments and Stock Management - The company’s controlling shareholder, Li Ping, committed to purchasing company shares at a price not exceeding 110% of the latest audited net asset value per share, with a minimum purchase of 3% of total shares within 90 days of the announcement[90]. - The company plans to issue convertible bonds, which may enhance its capital structure and provide funding for future projects[77]. - The company has established a three-year shareholder return plan for 2021-2023, aiming to enhance shareholder value[77]. Legal and Regulatory Risks - The company is subject to regulatory risks due to the high level of government oversight in the pharmaceutical manufacturing industry[67]. - The company is involved in multiple significant lawsuits related to sales contract disputes with various entities, including Jiangsu Hantang International Trade Co., Ltd. and Shenzhen Xinhongmei Medical Equipment Co., Ltd.[99]. - The company has a pending lawsuit against Shen Yuzhong regarding a compensation amount of 602.17 thousand yuan, which is based on performance compensation from a share transfer agreement[101]. Future Outlook - Future performance guidance indicates a cautious outlook, with expectations of moderate growth in the upcoming quarters[153]. - The company plans to continue expanding its market presence and product offerings in the medical supplies sector[162].

Financial Performance - Operating revenue rose by 41.07% to CNY 141,682,428.93 year-on-year[5] - Net profit attributable to shareholders decreased by 3.23% to CNY 9,128,042.63 compared to the same period last year[5] - Basic earnings per share decreased by 3.22% to CNY 0.04054[5] - Total revenue for Q1 2021 reached ¥141,682,428.93, a 40.9% increase from ¥100,435,111.68 in Q1 2020[25] - Net profit for Q1 2021 was ¥8,980,922.60, compared to ¥9,289,562.19 in Q1 2020, showing a decrease of 3.3%[26] - The company's revenue for Q1 2021 reached ¥142,740,020.02, a 46.6% increase compared to ¥97,334,274.40 in Q1 2020[29] - Operating profit for Q1 2021 was ¥14,625,537.57, up 32.5% from ¥11,019,443.49 in Q1 2020[30] - Net profit for Q1 2021 was ¥13,766,598.77, representing a 40.1% increase from ¥9,814,291.57 in Q1 2020[30] Assets and Liabilities - Total assets increased by 5.12% to CNY 1,127,517,818.84 compared to the end of the previous year[5] - The company's total liabilities increased to ¥412,245,171.04, up from ¥371,840,580.60 at the end of the previous year[19] - The company's total assets as of March 31, 2021, amounted to ¥1,125,015,178.40, an increase from ¥1,066,133,986.78 at the end of 2020[22] - Total liabilities as of March 31, 2021, were ¥419,184,227.62, compared to ¥379,556,484.77 at the end of 2020, indicating an increase of 10.5%[23] - The company's equity totaled ¥705,830,950.78 as of March 31, 2021, up from ¥686,577,502.01 at the end of 2020, reflecting a growth of 2.1%[23] Cash Flow - Net cash flow from operating activities worsened, with a net outflow of CNY 54,987,217.80, an increase of 804.95% in outflow compared to the previous year[5] - The net cash flow from financing activities increased by 352.88% to ¥56,009,567.78, mainly due to an increase in short-term borrowings[12] - The company reported a net cash outflow from operating activities of ¥54,987,217.80 in Q1 2021, compared to a smaller outflow of ¥6,076,249.05 in Q1 2020[33] - Cash and cash equivalents at the end of Q1 2021 were ¥253,432,324.99, down from ¥160,352,139.36 at the end of Q1 2020[34] - Cash flow from financing activities generated a net inflow of $56.01 million, up from $12.37 million year-over-year[36] - The net decrease in cash and cash equivalents for the quarter was -$55.25 million, compared to -$3.17 million in the previous year[36] Shareholder Information - The total number of shareholders reached 19,776 at the end of the reporting period[9] - The largest shareholder, Li Ping, holds 43.39% of the shares, amounting to 97,711,575 shares[9] Research and Development - Research and development expenses rose to ¥7,577,590.98, reflecting a 104.27% increase year-on-year, attributed to higher R&D investments[11] - Research and development expenses increased to ¥7,577,590.98 in Q1 2021, up 104.5% from ¥3,709,559.07 in Q1 2020[29] Other Financial Metrics - The weighted average return on equity increased by 0.02 percentage points to 1.30%[5] - The company received government subsidies amounting to CNY 144,019.25 during the reporting period[7] - The company reported a total of CNY 121,813.00 in non-recurring gains and losses[7] - The company's management expenses increased by 88.59% to ¥15,181,487.51, primarily due to increased employee stock compensation[11] - Total operating costs for Q1 2021 were ¥133,269,629.14, up from ¥90,315,047.95 in Q1 2020, reflecting a 47.5% increase[26] - The company incurred a credit impairment loss of ¥2,728,518.64 in Q1 2021, significantly higher than ¥204,484.65 in Q1 2020[30] - The company raised ¥202,317,380.00 through borrowings in Q1 2021, compared to ¥50,780,000.00 in Q1 2020, showing increased financing activity[34]

Financial Performance - In 2020, the company's operating revenue reached ¥1,072,399,917.76, representing a 118.11% increase compared to ¥491,688,011.57 in 2019[20] - The net profit attributable to shareholders was ¥98,067,613.55, a significant increase of 249.60% from ¥28,051,595.53 in the previous year[20] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was ¥86,701,465.59, up 275.58% from ¥23,084,715.39 in 2019[20] - Cash flow from operating activities amounted to ¥154,122,592.63, a 367.12% increase compared to ¥32,994,069.13 in 2019[21] - As of the end of 2020, total assets were ¥1,072,645,455.80, reflecting a 23.35% increase from ¥869,601,971.34 at the end of 2019[21] - The net assets attributable to shareholders increased by 23.51% to ¥696,791,263.63 from ¥564,157,337.40 in 2019[21] - Basic earnings per share increased by 164.71% to CNY 0.45 from CNY 0.17 in 2019[22] - The weighted average return on equity rose to 16.01%, an increase of 10.99 percentage points compared to 5.02% in 2019[22] Dividend Distribution - The company plans to distribute a cash dividend of ¥1.5 per 10 shares, totaling approximately ¥33,777,000.00, and to increase the share capital by 3 shares for every 10 shares held[5] - In 2019, the company distributed a cash dividend of RMB 0.5 per 10 shares, amounting to RMB 8,450,000[139] - The company has a profit distribution policy that mandates a minimum cash dividend of 25% of the distributable profit when conditions allow[133] - For mature companies without significant capital expenditure, the cash dividend should constitute at least 80% of the profit distribution[133] Business Operations and Strategy - The company’s main business includes the development, production, and sales of transdermal products, medical tapes, first aid kits, and protective equipment[29] - The increase in main business revenue was primarily driven by the surge in sales of pandemic-related protective products[24] - The company is positioned in the pharmaceutical manufacturing industry, specifically in the manufacturing of sanitary materials and medical supplies[29] - The company has established a strict supplier selection mechanism, evaluating suppliers based on qualifications, manufacturing capabilities, and quality management, with regular assessments conducted[36] - The company utilizes a "sales-driven production" model, organizing production based on customer demand, with a focus on timely preparation of raw materials for large clients[37] - The company has increased its focus on developing its own brand products, expanding into areas such as first aid kits and protective gear, alongside its ODM business model[38] Research and Development - The company invested 33.96 million yuan in R&D, a 52.30% increase compared to the previous year, focusing on new formulations and technology upgrades[58] - The company holds 30 Class I medical device registrations and 14 Class II medical device registrations, along with 3 drug registration certificates[58] - The company has established a research collaboration with Zhejiang University, focusing on transdermal drug delivery technologies, resulting in two national invention patents granted[48] - Major R&D projects included the development of antibacterial medical bandages with an investment of RMB 3,771,980.69, reflecting a 37.31% increase compared to the previous year[101] - The company is focusing on the research of transdermal drug delivery technologies, particularly in hydrogel formulations[92] Market Position and Industry Outlook - The company has a strong market position in the medical device industry, leveraging nearly 30 years of experience to meet domestic and international customer demands effectively[45] - The medical device industry is expected to continue growing, supported by favorable national policies and increasing domestic demand[87] - The overall concentration of the medical device industry in China is low, with many companies relying on traditional medical consumables for export, leading to increased market competition and pressure on profit levels[114] - The company aims to achieve a revenue target of 1.1 billion yuan and a profit target of 105 million yuan for the year 2021[117] Risk Management - The company has not identified any significant risks that could materially affect its operations during the reporting period[7] - The company recognizes risks such as industry policy changes, intensified market competition, and fluctuations in foreign exchange rates that could impact its operations[123][124][127] - The company faces risks related to product liability and potential litigation that could impact its reputation and operational capacity[128] - The ongoing pandemic has limited the company's production, procurement, and market sales, leading to uncertainty in its business operations[130] Corporate Governance and Compliance - The company is committed to ensuring the accuracy and completeness of its financial reports, as confirmed by its management[4] - The company has not made any adjustments to its profit distribution policy during the reporting period[138] - The company has maintained a focus on compliance and transparency in its financial reporting and legal obligations[153] Environmental and Social Responsibility - The company has implemented environmental protection measures, including a rainwater and sewage separation system to manage wastewater effectively[172] - The company has established a social responsibility management system, focusing on employee welfare and rights protection, including regular salary adjustments and social insurance contributions[170] - The company actively participates in social welfare activities, establishing a long-term donation mechanism to support charitable causes[171] Shareholder Information - The total number of restricted shares held by key personnel increased by 31,451,075 shares during the reporting period[184] - The company has a stock incentive plan with a vesting period of 12 to 36 months, allowing for the release of 50% of the restricted stocks at specified intervals[194] - The company does not have a controlling shareholder, and the actual controller is Li Ping, who is also the chairman and general manager[196] - The company has not experienced any changes in its controlling shareholder during the reporting period[197]