Financial Performance - The company reported a total revenue of 4.0775 million yuan for the year 2021, indicating that it has not yet achieved profitability[5]. - The net profit attributable to the parent company was -3.9971 million yuan, and the net profit after deducting non-recurring gains and losses was -17.7327 million yuan[5]. - The net loss attributable to shareholders was CNY 3.99 million in 2021, an improvement from a loss of CNY 21.85 million in 2020[34]. - The company achieved sales revenue of RMB 4.08 million in 2021, with a net profit attributable to shareholders of -RMB 3.9971 million, reducing losses by 81.7% compared to the previous year[54]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -RMB 17.7327 million, a reduction in losses of 41.01% year-on-year[54]. - The basic earnings per share for 2021 was -CNY 0.05, an improvement from -CNY 0.28 in 2020[38]. - The diluted earnings per share for 2021 was also -CNY 0.05, consistent with the basic earnings per share[38]. - The weighted average return on equity was -0.84% in 2021, showing a significant recovery from -8.59% in 2020[38]. - The company reported a net cash flow from operating activities of -CNY 48.78 million in 2021, worsening from -CNY 20.21 million in 2020[37]. - The gross profit margin for the paclitaxel micelle injection was 92.75%, with a cost of sales amounting to CNY 295,806.16[128]. Product Development and Market Position - The company initiated commercial production and sales of its core product, paclitaxel polymer micelles injection, after receiving approval on October 26, 2021[38]. - The core product, paclitaxel polymer micelles, was approved for marketing on October 26, 2021, marking a significant milestone for the company[51]. - The injectable paclitaxel polymer micelle is classified as a Category 2.2 new drug, with a broad market application potential for over 80% of breast cancer patients[88]. - The company achieved revenue of CNY 4.0775 million in the reporting period, marking its first year of sales since the approval of the paclitaxel micelle injection in October 2021[120]. - The injectable paclitaxel polymer micelle has significant clinical advantages over other chemotherapy drugs, establishing a sustained first-mover advantage in the chemotherapy field[77]. - The company’s core product, injectable paclitaxel polymer micelles, received approval from the National Medical Products Administration on October 26, 2021, as a Class 2.2 new drug, suitable for first-line treatment of patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) with EGFR gene mutation negative and ALK gene negative[182]. Research and Development - The total R&D investment for the year was approximately ¥13.24 million, representing a decrease of 26.01% compared to the previous year[87]. - The company has three invention patents related to the injectable paclitaxel polymer micelles, highlighting its commitment to innovation[58]. - The company is actively conducting preclinical research on cabazitaxel micelles, utilizing advanced core technologies to develop innovative drug excipients[81]. - The R&D department collaborates with production and quality management to ensure compliance with GMP standards and to prepare for new drug applications[70]. - The company is in the preclinical research stage for cabazitaxel micelles, with plans to increase R&D investment based on progress to enhance future profitability[94]. - Research and development investment for the anti-tumor drug, injectable paclitaxel polymer micelles, amounted to ¥12,471,171.89, representing a decrease of 30.30% compared to the same period last year[4]. Market Strategy and Sales - The company plans to increase investment in marketing network construction and expansion to enhance product market coverage[54]. - The company employs a self-operated sales model, focusing on brand establishment and innovative product positioning to enhance market penetration[67]. - The company signed cooperation agreements with several pharmaceutical groups to expand sales channels[54]. - The company aims to meet market demand and adapt its business strategies according to market conditions[50]. - The company has established a long-term incentive mechanism and talent training plan to strengthen its marketing capabilities[5]. Risks and Challenges - The uncertainty regarding the timing of the product's inclusion in the national medical insurance directory poses a risk to commercial sales, which currently depend on out-of-pocket payments by patients[113]. - The company faces competitive pressure from new therapies and drugs that may emerge in the oncology market, particularly in the field of lung cancer treatment[116]. - The regulatory environment in the pharmaceutical industry is highly dynamic, and changes in policies could adversely affect the company's operations and pricing strategies[117]. - The ongoing impact of the COVID-19 pandemic introduces uncertainties that may affect the company's market expansion and product promotion activities[117]. - The company is facing new challenges from the patent linkage system, which grants original drug companies the right to protect their commercial interests against generic drugs[175]. Financial Management - The company reported a substantial increase in interest income due to effective cash management of its own and raised funds[122]. - The company's cash and cash equivalents at the end of the period were RMB 110,430,532.95, representing 9.20% of total assets, a significant increase from 0.07% in the previous year[156]. - Investment activities resulted in a net cash outflow of RMB -785,629,589.39, a decrease of 4721.83% compared to the previous year[154]. - Financing activities generated a net cash inflow of RMB 944,652,787.24, an increase of 28,966.24% compared to the previous year[154]. - The company experienced a significant increase in management expenses due to personnel growth and costs associated with its initial public offering[122].

Financial Performance - The company reported a total revenue of 4.0775 million yuan for the year 2021, indicating that it has not yet achieved profitability[5] - The net profit attributable to the parent company was -3.9971 million yuan, and the net profit after deducting non-recurring gains and losses was -17.7327 million yuan[5] - The company achieved sales revenue of RMB 4.08 million in 2021, with a net profit attributable to shareholders of -RMB 3.99 million, reducing losses by 81.7% compared to the previous year[54] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -RMB 17.73 million, a reduction in losses of 41.01% year-on-year[54] - The company achieved revenue of CNY 4.0775 million in the reporting period, marking its first year of sales after the approval of the paclitaxel micelle injection in October 2021[120] - The net profit attributable to the parent company was a loss of CNY 3.9971 million, an improvement of 81.7% compared to the previous year[120] - The gross profit margin for the paclitaxel micelle injection was 92.75%, with a cost of sales amounting to CNY 295,806.16[128] Research and Development - The company’s R&D investment as a percentage of revenue is not applicable for the reporting period[38] - The company has applied for and obtained 3 invention patents related to drug excipients, formulation, and key technologies for preparation processes[79] - Research and development expenses totaled approximately ¥13.24 million in the reporting period, representing a decrease of 26.01% compared to the previous year[87] - The company is actively conducting preclinical research on cabazitaxel micelles, utilizing advanced core technologies to develop innovative drug excipients[81] - The company plans to leverage its unique core technology to actively develop new products and enrich its product pipeline[81] - The company is in the preclinical research stage for cabazitaxel micelles, indicating ongoing efforts in innovative drug development[183] Product Development and Approval - The core product, injectable paclitaxel polymer micelles, was approved for market launch on October 26, 2021, initiating commercial production and sales[38] - The core product, paclitaxel polymer micelles, was approved for sale on October 26, 2021, marking a significant milestone for the company as it transitions from a research-focused entity to a comprehensive pharmaceutical company[51] - The company’s core product, injectable paclitaxel polymer micelles, received approval from the National Medical Products Administration on October 26, 2021, as a Class 2.2 new drug for first-line treatment of certain lung cancer patients[182] - The injectable paclitaxel polymer micelles are classified as a Class 2.2 new drug and are indicated for first-line treatment of locally advanced or metastatic non-small cell lung cancer (NSCLC) patients[3] Market and Competitive Landscape - The anti-tumor drug market in China grew from 20.69 billion yuan in 2015 to 30.34 billion yuan in 2020, with a compound annual growth rate of 7.95%[73] - The market for lung cancer treatment is substantial, with lung cancer being the most prevalent cancer globally, indicating a large demand for paclitaxel products[100] - The company faces competitive pressure from new therapies and drugs that may emerge in the oncology market, particularly in the field of lung cancer treatment[116] Operational and Governance Aspects - The company has not identified any significant risks that could materially affect its operations during the reporting period[6] - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[7] - The company has not disclosed any special arrangements for corporate governance or other significant matters[8] - The company has received a standard unqualified audit report from its accounting firm[7] - The company is under continuous supervision by Guojin Securities from September 9, 2021, to December 31, 2024[33] Financial Position and Cash Flow - The company's cash and cash equivalents at the end of the period were RMB 110,430,532.95, representing 9.20% of total assets, a significant increase of 57,572.51% from the previous period[156] - The company's trading financial assets reached approximately 832.65 million, representing a 69.35% increase compared to the previous period[159] - Prepayments amounted to approximately 11.82 million, with a significant increase of 2,359.73% attributed to advance payments to suppliers[159] - Inventory stood at approximately 11.78 million, reflecting a 697.73% increase due to higher procurement of raw materials[159] - Short-term borrowings increased to approximately 16.75 million, marking a 415.38% rise due to new one-year credit loans[159] Marketing and Sales Strategy - The company signed cooperation agreements with several pharmaceutical groups to expand sales channels and enhance market penetration[54] - The company plans to continue investing in marketing network construction and expansion to increase product market coverage[54] - The company is focusing on expanding its market presence and enhancing its product offerings in the pharmaceutical sector, which is experiencing a compound annual growth rate of 13.71% in healthcare spending[165] Challenges and Risks - The uncertainty regarding the inclusion of the paclitaxel micelle injection in the national medical insurance directory poses a risk to the company's revenue generation[113] - The company’s financial performance may be adversely affected by the downward trend in drug prices due to government-led centralized procurement policies[117] - The impact of the COVID-19 pandemic on market conditions may create uncertainties in the company's promotional and operational activities[117]

Financial Performance - The net profit attributable to shareholders for the third quarter was -7,897,552.33 RMB, with a year-to-date total of -20,123,712.28 RMB[6] - Basic and diluted earnings per share for the quarter were both -0.09 RMB, reflecting an increase in losses compared to the previous year[10] - Net profit for the third quarter was CNY -20,123,712.28, compared to CNY -14,682,215.96 in the same period last year, indicating a deeper loss[33] - The company reported a basic earnings per share of CNY -0.24, compared to CNY -0.19 in the previous year[35] Cash Flow - The net cash flow from operating activities for the third quarter was -8,053,179.35 RMB, and -41,368,988.62 RMB year-to-date[10] - The net cash flow from operating activities for the first three quarters of 2021 was -41,368,988.62 RMB, compared to -14,300,778.11 RMB in the same period of 2020, indicating a significant decline[39] - The cash outflow for operating activities totaled 42,171,916.27 RMB, compared to 16,699,360.86 RMB in the previous year, reflecting increased operational costs[39] - The cash flow from operating activities was significantly impacted by a rise in payments to employees, which totaled 12,830,244.18 RMB, compared to 9,437,328.60 RMB in the previous year[39] Assets and Liabilities - Total assets increased by 361.69% year-over-year, reaching 1,194,894,249.26 RMB[10] - Total current assets reached ¥996,629,255.33, compared to ¥57,726,833.66 at the end of 2020[25] - Total liabilities amounted to CNY 35,481,150.78, an increase from CNY 15,303,709.17 in the previous year[28] - Owner's equity reached CNY 1,159,413,098.48, significantly up from CNY 243,506,331.61 year-over-year[30] Research and Development - Research and development expenses totaled 3,857,224.28 RMB for the quarter, representing a decrease of 8.92% compared to the same period last year[10] - The company experienced an increase in research and listing-related expenses, contributing to the increased losses for the period[16] - Research and development expenses were CNY 12,936,135.66, slightly higher than CNY 12,476,440.61 in the previous year[30] Shareholder Information - Total number of common stock shareholders at the end of the reporting period is 11,575[19] - The largest shareholder, Zhou Jinsong, holds 20,633,000 shares, representing 19.50% of total shares[19] Government Subsidies and Other Income - The company reported a total of 212,143.86 RMB in government subsidies recognized during the quarter[10] - The company recorded investment income of CNY 883,012.55, down from CNY 3,446,210.88 in the previous year[33] - The company received 2,561,643.40 RMB in cash from investment income, down from 3,446,210.88 RMB in the previous year[39] Capital and Financing Activities - The company completed its initial public offering, resulting in an increase in capital stock and capital reserves[16] - Cash inflow from financing activities amounted to 1,024,495,000.00 RMB, with a net cash flow of 952,364,102.38 RMB after outflows[41] Inventory and Other Assets - The company’s inventory as of September 30, 2021, is valued at ¥10,886,047.37, compared to ¥1,476,835.63 in the previous year[25] - The company has a total of ¥105,231,908.77 in other non-current assets, slightly up from ¥103,481,343.03 in the previous year[25]