Financial Performance - The company's operating revenue for 2020 was CNY 721,440,229.88, representing a 24.04% increase compared to CNY 581,632,761.51 in 2019[25]. - The net profit attributable to shareholders for 2020 was CNY 157,227,222.39, a decrease of 15.53% from CNY 186,130,277.81 in 2019[25]. - The net profit after deducting non-recurring gains and losses was CNY 152,038,673.07, which is a 4.10% increase from CNY 146,047,573.83 in 2019[25]. - The net cash flow from operating activities for 2020 was CNY 214,481,140.46, up 19.22% from CNY 179,903,617.01 in 2019[25]. - The total assets at the end of 2020 were CNY 1,533,212,830.38, a 39.35% increase from CNY 1,100,247,816.67 at the end of 2019[25]. - The net assets attributable to shareholders at the end of 2020 were CNY 1,385,232,437.06, reflecting a 41.74% increase from CNY 977,283,198.52 at the end of 2019[25]. - The basic earnings per share for 2020 was CNY 0.42, down 19.23% from CNY 0.52 in 2019[26]. - The weighted average return on equity for 2020 was 14.28%, a decrease of 6.81 percentage points from 21.09% in 2019[26]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.20 per 10 shares, totaling RMB 48,120,000 based on a total share capital of 401,000,000 shares as of December 31, 2020[8]. - The cash dividend for 2019 was CNY 1.00 per 10 shares, amounting to CNY 36 million, which represented 19.34% of the net profit attributable to ordinary shareholders[147]. - The company aims to maintain a stable and continuous profit distribution policy, prioritizing cash dividends when conditions allow[145]. - The company’s profit distribution policy includes a minimum cash distribution of 20% of the available profit when there are no major investment plans[145]. Audit and Compliance - The company reported a standard unqualified audit opinion from Tianjian Accounting Firm for the fiscal year 2020[7]. - The company’s financial report has been confirmed as true, accurate, and complete by its management[5]. - The company has not violated any decision-making procedures regarding external guarantees[10]. - The company has not encountered any situations that would lead to a risk of suspension or termination of its listing[172]. - The company has not reported any significant accounting errors or changes in accounting policies that would impact its financial statements[170]. Research and Development - The company has a research and development team of 127 members, accounting for 13.53% of total employees, with 9 PhDs and 27 Master's degree holders[47]. - Research and development expenses totaled 47.35 million RMB, a 35% increase compared to the previous year, with five products successfully developed during the reporting period[56]. - The company submitted nine invention patents and received authorization for seven, totaling 15 valid patents by the end of the reporting period[56]. - The company has completed R&D for 5 products and has 16 products currently under development, with 127 R&D personnel including 9 PhDs[103]. - The company’s R&D investment amounted to 47.35 million RMB, accounting for 6.56% of operating revenue, with a year-on-year growth of 34.91%[108]. Market and Sales - The global pharmaceutical market is projected to exceed 1.5 trillion USD by 2023, with an annual growth rate of 4%-5%[40]. - In 2020, the revenue of China's pharmaceutical manufacturing industry was 2.48573 trillion RMB, with a year-on-year growth of 4.5%[41]. - The company has established a comprehensive sales system for APIs in the Americas, Europe, and Asia, with stable long-term partnerships with major pharmaceutical companies[49]. - The company’s major sales model is direct sales, primarily targeting formulation production enterprises, with a stable customer base established through long-term cooperation[111]. - The company’s overseas sales accounted for 96% of its main business revenue, highlighting its reliance on international markets[136]. Environmental Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[188]. - Wastewater discharge amounted to 71,000 tons, with actual COD emissions of 2.13 tons and ammonia nitrogen emissions of 0.11 tons[189]. - VOCs emissions from waste gas were recorded at 36.48 tons, with actual emissions of 0.999 tons[189]. - The company implemented a new RTO facility with a capacity of 20,000 m³/h for waste gas treatment, which is currently operational[194]. - The company has established a comprehensive environmental risk emergency mechanism and updated its emergency response plan for pollution incidents[198]. Corporate Governance - The company has committed to a lock-up period for major shareholders, lasting from September 21, 2020, to September 20, 2023, during which they cannot transfer or manage their shares[151]. - Shareholders are required to maintain a minimum selling price for their shares after the lock-up period, which cannot be lower than the adjusted issuance price[152]. - The company will publicly disclose any failure to adhere to lock-up commitments and will apologize to shareholders, with penalties including extending the lock-up period[157]. - The company has established long-term commitments regarding share transfers for its major shareholders, ensuring compliance with relevant regulations[154]. - The company has made commitments to ensure the accuracy and completeness of its IPO prospectus, taking legal responsibility for any misstatements[168].

Financial Performance - Net profit attributable to shareholders increased by 16.96% to CNY 140,205,001.57 for the first nine months of the year[18]. - Operating income rose by 24.24% to CNY 543,589,063.41 year-to-date[18]. - Basic and diluted earnings per share increased by 18.18% to CNY 0.39[20]. - Total operating revenue for Q3 2020 was CNY 160,908,470.57, an increase from CNY 150,508,283.81 in Q3 2019, representing a growth of approximately 9.3%[53]. - Net profit for Q3 2020 was CNY 37,142,083.31, compared to CNY 47,838,046.24 in Q3 2019, reflecting a decrease of approximately 22.4%[56]. - The company reported a total profit of CNY 40,556,789.44 for Q3 2020, compared to CNY 52,926,970.31 in Q3 2019, a decline of approximately 23.4%[56]. - The company’s total comprehensive income for Q3 2020 was CNY 36,394,097.68, compared to CNY 46,654,084.84 in Q3 2019, a decrease of approximately 22.0%[59]. - Total operating costs for Q3 2020 were CNY 125,000,171.74, up from CNY 100,835,768.20 in Q3 2019, indicating a rise of about 24.0%[53]. Assets and Liabilities - Total assets increased by 36.68% to CNY 1,503,826,883.82 compared to the end of the previous year[18]. - Total liabilities rose to approximately $135.70 million, up from $122.96 million, reflecting an increase of about 10.5%[42]. - The company's total liabilities increased significantly, with other payables rising by 187.04% to ¥1,950,920.93 from ¥679,675.49, mainly due to performance guarantee deposits received by a subsidiary[31]. - The company's cash and cash equivalents increased by 139.07% to ¥633,666,582.36 from ¥265,057,317.69 due to funds raised from stock issuance[31]. - Current assets reached approximately $1.01 billion, compared to $664.85 million in the previous year, marking a 52% increase[41]. - The company's construction in progress increased by 46.98% to ¥224,059,540.91 from ¥152,441,774.09, due to increased expenditures on factory construction[31]. Cash Flow - Net cash flow from operating activities increased by 57.90% to CNY 204,441,555.50 for the first nine months[18]. - Cash flow from operating activities for the first three quarters of 2020 was approximately ¥609.68 million, compared to ¥471.99 million in the same period of 2019, representing a growth of 29.1%[68]. - Total cash inflow from operating activities reached ¥442.95 million, up from ¥387.51 million year-over-year, reflecting a growth of 14.3%[75]. - Cash inflow from financing activities amounted to ¥312.28 million, with no previous year comparison available[75]. - The net cash flow from financing activities was ¥273.78 million, indicating a strong inflow compared to the previous year[75]. Shareholder Information - The company had a total of 28,438 shareholders at the end of the reporting period[26]. - The top shareholder, Zhejiang Tongben Investment Co., Ltd., holds 38.30% of the shares[26]. - Shareholders' equity attributable to the parent company increased by 39.99% to CNY 1,368,125,593.47 compared to the end of the previous year[18]. Research and Development - The company's research and development expenses rose by 78.52% to ¥30,955,891.67 compared to ¥17,340,069.60 in the previous year, primarily due to increased R&D efforts following the merger with Tianjin Aorite[33]. - The company plans to continue investing in R&D to enhance product offerings and market expansion strategies[54]. - R&D expenses for Q3 2020 amounted to CNY 9,448,721.07, an increase from CNY 5,038,679.31 in Q3 2019, showing a growth of about 87.5%[53]. Other Financial Metrics - The weighted average return on net assets decreased by 0.44 percentage points to 13.68%[20]. - The company reported a government subsidy of CNY 148,895.85 for the current period[24]. - The company's capital reserve increased by 98.46% to ¥489,874,194.71 from ¥246,832,938.71, mainly due to capital premiums from stock issuance[31]. - The company recorded a 252.02% increase in investment income to ¥1,692,036.47 from ¥480,661.45, resulting from increased financial product purchases[33]. - The company experienced a foreign exchange loss of approximately -¥567,722.65 during the reporting period[77].

Financial Performance - Net profit attributable to shareholders increased by 16.96% to CNY 140,205,001.57 for the year-to-date period[18] - Operating income rose by 24.24% to CNY 543,589,063.41 for the year-to-date period[18] - Basic earnings per share increased by 18.18% to CNY 0.39[20] - Total operating revenue for Q3 2020 was CNY 160,908,470.57, an increase from CNY 150,508,283.81 in Q3 2019, representing a growth of approximately 9.3%[53] - Net profit for Q3 2020 was CNY 37,142,083.31, compared to CNY 47,838,046.24 in Q3 2019, reflecting a decrease of approximately 22.4%[56] - The total profit for Q3 2020 was CNY 40,556,789.44, compared to CNY 52,926,970.31 in Q3 2019, reflecting a decrease of about 23.4%[56] - The company reported a comprehensive income total of CNY 36,394,097.68 for Q3 2020, down from CNY 46,654,084.84 in Q3 2019, indicating a decline of approximately 22.0%[59] Assets and Liabilities - Total assets increased by 36.68% to CNY 1,503,826,883.82 compared to the end of the previous year[18] - The total assets of the company as of the end of the reporting period were CNY 1,424,176,116.28, up from CNY 1,004,263,599.44 in the previous year, indicating a growth of approximately 41.7%[52] - Total liabilities amounted to approximately $135.70 million, an increase from $122.96 million, representing a rise of about 10.5%[42] - The company's total liabilities increased by 187.04% in other payables, amounting to RMB 1,950,920.93, due to performance guarantee deposits received by its subsidiary[31] - The company's contract liabilities reached RMB 6,616,678.80, reflecting the adjustment from previously reported prepayments under new revenue accounting standards[31] Cash Flow - Net cash flow from operating activities increased by 57.90% to CNY 204,441,555.50 for the year-to-date period[18] - Cash flow from operating activities for the first three quarters of 2020 was approximately ¥609.68 million, an increase of 29.1% from ¥471.99 million in the same period of 2019[68] - The net increase in cash and cash equivalents for the third quarter of 2020 was ¥178,654,318.97, compared to a decrease of -¥3,189,159.47 in the same quarter of 2019[77] - The ending balance of cash and cash equivalents reached ¥381,492,319.15, significantly higher than ¥144,058,177.64 at the end of the previous year[77] - Cash inflow from financing activities totaled ¥312,284,700.00, with no previous year comparison available[75] Research and Development - The company's research and development expenses rose by 78.52% to RMB 30,955,891.67 compared to RMB 17,340,069.60, primarily due to increased R&D efforts following the merger with Tianjin Aorite[33] - R&D expenses for Q3 2020 amounted to CNY 9,448,721.07, which is an increase from CNY 5,038,679.31 in Q3 2019, showing a growth of about 87.5%[53] - The company plans to continue investing in R&D to enhance product offerings and market competitiveness[54] Shareholder Information - The total number of shareholders reached 28,438[26] - The largest shareholder, Zhejiang Tongben Investment Co., Ltd., holds 38.30% of shares[26] Other Income and Expenses - The company received government subsidies amounting to CNY 148,895.85 during the reporting period[24] - The company reported a non-operating income of CNY 950,911.05 for the year-to-date period[24] - The company's financial expenses showed a significant change of -183.11%, reflecting currency exchange gains due to fluctuations in exchange rates[33] - The company's other comprehensive income showed a negative change of 57.63%, amounting to RMB -1,333,419.57, primarily due to foreign currency translation differences[31]