Financial Performance - The company's operating revenue for 2021 reached RMB 1,589,279,102.40, representing a year-over-year increase of 32.47% compared to RMB 1,199,766,026.02 in 2020[23]. - The net profit attributable to shareholders of the listed company was RMB 738,526,270.09, reflecting a growth of 13.80% from RMB 648,992,193.53 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was RMB 726,941,913.18, which is an increase of 12.67% compared to RMB 645,181,722.64 in 2020[24]. - The cash flow generated from operating activities amounted to RMB 675,939,933.45, marking a 12.24% increase from RMB 602,200,646.39 in the prior year[24]. - As of the end of 2021, the total assets of the company were RMB 3,280,443,711.10, a significant increase of 197.98% from RMB 1,100,910,969.61 at the end of 2020[24]. - The net assets attributable to shareholders of the listed company surged to RMB 2,606,497,476.20, up 221.12% from RMB 811,690,971.79 at the end of 2020[24]. - The basic earnings per share were CNY 15.62, up 10.70% from the previous year[25]. - The weighted average return on equity decreased by 75.10 percentage points to 58.20%[25]. - The total sales amount from the top five customers was 117,690.13 million RMB, which accounted for 74.05% of the annual total sales[136]. - The total procurement amount from the top five suppliers was 24,538.07 million RMB, representing 43.63% of the annual total procurement[139]. Dividend Policy - The company plans to distribute a cash dividend of 38.80 CNY per 10 shares, totaling approximately 237.97 million CNY, representing a cash dividend payout ratio of 32.22% for the year 2021[5]. - The company aims for a minimum cash dividend ratio of 80% for mature stages without significant capital expenditure, and 40% for mature stages with significant capital expenditure[200]. Research and Development - The total R&D investment for the year was ¥70,379,805.36, an increase of 20.42% compared to the previous year[93]. - R&D investment accounted for 4.43% of total revenue, a decrease of 0.44 percentage points from the previous year[93]. - The company has completed product development and registration for 8 major series and 49 reagent R&D projects, with 7 projects already developed and registered for production[96]. - The company has established a core raw material technology platform for POCT reagents, enhancing its competitive edge and reducing supply risks[105]. - The company has achieved over 50% self-supply of biological raw materials needed for nearly 100 reagent products, supporting continuous innovation and stable production[77]. - The company has made significant advancements in R&D, with multiple new patents related to sample collection and detection methods filed in China and abroad[87]. Market Strategy and Expansion - The company is focused on expanding its market presence and enhancing its product offerings in the field of in vitro diagnostic medical devices[16]. - The company plans to expand its product line and increase market share both domestically and internationally[34]. - The company aims to leverage strategic partnerships and potential acquisitions to accelerate growth and market penetration[16]. - The company is actively pursuing new strategies for market expansion and product development, as evidenced by its growing portfolio of patents and certifications[87]. - The company is focusing on expanding its market presence in the in vitro diagnostic sector, which has seen a surge in demand since the COVID-19 pandemic[154]. Compliance and Governance - The company has received a standard unqualified audit report from its accounting firm, indicating the financial statements are accurate and complete[5]. - The company has established a robust compliance framework, including obtaining necessary certifications such as CE, TGA, and SABER for its products[15]. - The company has not reported any related party transactions during the reporting period, ensuring transparency[172]. - The company has established a comprehensive governance structure with clear responsibilities among shareholders, board members, and management[165]. Risks and Challenges - The company has identified significant risk factors that may adversely affect its operations, as detailed in the management discussion and analysis section[4]. - The company faces risks related to core technology personnel turnover, which could impact its R&D capabilities[111]. - The company's overseas sales are subject to uncertainties related to political, economic, and trade conditions in export markets[114]. - The company’s ability to meet the new EU IVDR regulations is critical for maintaining its market position in Europe[120]. Product Development and Innovation - The company is focused on technology innovation as its core competitive advantage, specializing in the R&D, production, and sales of POCT reagents and instruments, with five major platforms: immunochromatography, dry biochemical, biological raw materials, chemiluminescence, and precision detection[72]. - The company has developed a drug wastewater initial screening detection solution, receiving multiple certifications from authoritative institutions in the industry[38]. - The company has launched a management system for drug-related personnel based on drug detection data systems, aligning with the development of smart cities[38]. - The company has successfully filed for 2 invention patents, 6 utility model patents, and 6 software copyrights during the reporting period[36]. - The company has established a complete quality management system based on ISO13485 standards, ensuring product quality and reliability[108]. Employee and Management Structure - The company has a total of 603 employees, with 471 in the parent company and 132 in major subsidiaries[192]. - The employee composition includes 178 production personnel, 58 sales personnel, 299 technical personnel, 14 financial personnel, and 54 administrative personnel[193]. - The company has maintained a stable leadership team with no changes in shareholding among directors and key technical personnel[172]. - The company has a diverse management team with a mix of experience in various sectors, enhancing its strategic capabilities[173]. Financial Position and Assets - The company's cash and cash equivalents increased to ¥2,047,209,377.52, representing 62.41% of total assets, up 234.78% compared to the previous period[145]. - Accounts receivable rose to ¥514,297,261.10, accounting for 15.68% of total assets, with a growth of 105.41% from the previous period[145]. - Inventory increased to ¥243,346,196.18, making up 7.42% of total assets, reflecting a 92.65% increase due to higher orders[145]. - The company's total liabilities increased significantly, with accounts payable reaching ¥324,011,968.51, which is 9.88% of total liabilities, up 93.35% from the previous period[145].

Financial Performance - The company's operating revenue for Q1 2022 reached ¥5,474,543,757.08, representing a significant increase of 2,763.42% compared to the same period last year[5] - The net profit attributable to shareholders was ¥2,681,700,014.97, reflecting a growth of 3,147.87% year-over-year[5] - Basic earnings per share (EPS) stood at ¥43.77, marking an increase of 2,340.41% compared to the previous year[6] - Operating profit for Q1 2022 was ¥3,119,833,088.15, compared to ¥97,675,781.93 in Q1 2021, indicating a year-over-year increase of about 3,090%[23] - Net profit for Q1 2022 amounted to ¥2,681,700,014.97, a substantial rise from ¥82,567,996.10 in the same period last year, reflecting an increase of approximately 3,145%[23] - Basic and diluted earnings per share for Q1 2022 were both ¥43.77, compared to ¥1.79 in Q1 2021, marking an increase of about 2,440%[24] - Total operating costs for Q1 2022 were ¥2,329,561,768.93, up from ¥92,732,699.09 in Q1 2021, which is an increase of about 2,411%[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥7,591,112,000.17, which is a 131.41% increase from the end of the previous year[6] - Total current assets as of March 31, 2022, amounted to ¥7,178,192,740.97, a significant increase from ¥2,979,405,144.48 as of December 31, 2021, indicating a growth of approximately 141%[16] - Total assets reached ¥7,591,112,000.17, compared to ¥3,280,443,711.10 at the end of 2021, marking a growth of around 131%[17] - Total liabilities increased to ¥2,296,071,679.32 from ¥673,946,234.90, which is an increase of approximately 241%[18] - The total equity attributable to shareholders of the parent company as of Q1 2022 was ¥5,295,040,320.85, compared to ¥2,606,497,476.20 in Q1 2021, representing an increase of approximately 103%[22] - Total liabilities and equity amounted to ¥7,591,112,000.17 in Q1 2022, compared to ¥3,280,443,711.10 in Q1 2021, indicating a growth of about 131%[22] Cash Flow - The net cash flow from operating activities was ¥3,631,925,330.95, showing a recovery from a negative cash flow of ¥3,141,561.96 in the same period last year[6] - Cash inflow from operating activities in Q1 2022 was ¥4,867,104,534.58, compared to ¥218,933,243.40 in Q1 2021, showing a growth of approximately 2,126%[26] - The net cash flow from operating activities was approximately $3.63 billion, a significant increase compared to a net outflow of approximately $3.14 million in the previous period[27] - The total cash outflow from operating activities was approximately $1.24 billion, reflecting increased operational expenses[27] - The company reported cash and cash equivalents of ¥1,907,634,230.41, down from ¥2,047,209,377.52, indicating a decrease of about 7%[16] - The cash and cash equivalents at the end of the period amounted to approximately $1.91 billion, down from $2.05 billion at the beginning of the period[28] Shareholder Information - The company reported a total of 4,296 common shareholders at the end of the reporting period[11] - The largest shareholder, Hangzhou Aixiang Holdings Co., Ltd., held 16,481,800 shares, representing 26.87% of the total shares[11] Research and Development - Research and development (R&D) expenses totaled ¥555,198,928.03, accounting for 10.14% of operating revenue, an increase of 6.62 percentage points year-over-year[6] - Research and development expenses for Q1 2022 were ¥555,198,928.03, significantly higher than ¥6,732,736.60 in Q1 2021, indicating a growth of approximately 8,247%[22] Market Performance - The increase in revenue and profit was primarily driven by the expanded market sales of COVID-19 products[9] - The significant increase in total assets and liabilities suggests potential expansion or investment activities in the upcoming quarters[17] Inventory and Receivables Management - Accounts receivable increased to ¥1,164,453,027.25 from ¥514,297,261.10, representing a growth of about 126% year-over-year[17] - Inventory rose to ¥462,494,407.76, up from ¥243,346,196.18, reflecting an increase of approximately 90%[17] - The company is actively managing its receivables and inventory levels to support future growth strategies[17] Other Financial Activities - The company reported a total cash outflow of approximately $2.48 million from financing activities, indicating no cash inflow from financing sources during the period[27] - The company did not report any cash inflow from new borrowings or investments during the period[27] - Tax payments amounted to approximately $55.56 million, a decrease from approximately $74.99 million in the previous period[27] - The impact of exchange rate fluctuations on cash and cash equivalents was a decrease of approximately $6.62 million[28]