Financial Performance - The company reported a net profit attributable to shareholders of 116,464,091.82 yuan after offsetting previous years' losses, with a distributable profit of 104,817,682.64 yuan after deducting statutory surplus reserves[12]. - The company reported a total profit of 40,068,130.32, with a significant increase in non-operating income amounting to 18,320,075.31[32]. - The company reported a significant increase in sales volume of its core product, paclitaxel micelles, contributing to the revenue growth[52]. - The company achieved a net profit attributable to shareholders of 142.85 million yuan, compared to a loss of 3.99 million yuan in the previous year, marking a turnaround to profitability[74]. - The company's operating revenue for 2022 was ¥235,957,004.22, a significant increase of 5,686.75% compared to ¥4,077,536.27 in 2021[51]. - The net cash flow from operating activities reached ¥110,784,705.94, compared to a negative cash flow of ¥48,784,143.53 in the previous year[51]. - The company reported a net profit of 102.79 million yuan after deducting non-recurring gains and losses, compared to a loss of 17.73 million yuan in the previous year[74]. - The company reported a significant increase in fair value changes from financial assets, amounting to 12,892,744.49, indicating strong market performance[32]. - The net assets attributable to shareholders increased by 12.22% to ¥1,319,178,266.25 at the end of 2022[51]. - The weighted average return on equity increased to 11.46%, up 12.3 percentage points from -0.84% in 2021[74]. Dividend and Share Capital - A cash dividend of 3.00 yuan per 10 shares (including tax) is proposed, totaling 43,166,400 yuan, which accounts for 30.22% of the net profit attributable to shareholders for the year[13]. - The total share capital increased from 105.8 million shares to 143.888 million shares following a capital reserve conversion plan approved by the board[4]. - The company plans to increase its total share capital from 143,888,000 shares to 158,276,800 shares by issuing 1 additional share for every 10 shares held, totaling 14,388,800 new shares[38]. - The company has reported a distributable profit of 104,817,682.64 CNY after deducting the statutory surplus reserve, indicating sufficient conditions for cash dividends in 2022[191]. - The total share capital will increase from 10,580,000 shares to 14,388,800 shares due to a capital reserve conversion plan, with a distribution of 3.6 shares for every 10 shares held[186]. Risk Management - The company has detailed potential risks in its operations, which are discussed in the management's analysis section of the report[3]. - The company does not foresee any significant investment plans or major cash expenditures in the near term, indicating a stable financial outlook[12]. - The company has no significant risks that materially affect its production and operations during the reporting period[3]. - The company emphasized the importance of risk awareness regarding forward-looking statements in its annual report, advising investors to be cautious[39]. Research and Development - The company is engaged in ongoing research and development, focusing on clinical trials to validate the efficacy and safety of its products[47]. - The company's R&D investment accounted for 3.36% of operating revenue, reflecting a commitment to innovation and product development[85]. - The company is actively advancing its product pipeline, developing innovative high-tech drugs targeting prostate and pancreatic cancers[92]. - The research and development strategy focuses on expanding the indications for its core product, the injectable paclitaxel polymer micelle, and developing targeted conjugate drugs[100]. - The company has applied for and authorized 2 invention patents during the reporting period[162]. Marketing and Sales Strategy - The company is focused on expanding its product offerings, particularly in the area of paclitaxel formulations, which are critical for cancer treatment[19]. - The marketing strategy emphasizes brand establishment and product clinical positioning, aiming to create a differentiated advantage for paclitaxel as a leading brand[88]. - The company has successfully listed its products in 27 provinces and cities across the country, focusing on outpatient DTP pharmacies for sales[77]. - The company plans to continue enhancing its marketing team and establishing long-term incentive mechanisms to strengthen its marketing capabilities[76]. - The sales strategy focuses on global promotion, with a primary emphasis on self-operated sales domestically and significant partnerships with strong listed companies to accelerate market entry[119]. Corporate Governance - The company has committed to ensuring the authenticity and completeness of its annual report, with all board members and senior management assuming legal responsibility[9]. - The company emphasizes strict compliance with corporate governance and internal control management to ensure high-quality development[99]. - The company is committed to continuous improvement in corporate governance and compliance with regulatory requirements to ensure sustainable development[122]. - The board of directors held 7 meetings, the supervisory board held 7 meetings, and 5 shareholder meetings during the reporting period, all in compliance with relevant laws and regulations[122]. - The independent directors participated actively in board meetings, with no instances of consecutive absences[144]. Employee and Talent Development - The company has a total of 243 employees, with 125 in sales, 34 in production, and 28 in research[181]. - The company has a total of 5 employees with doctoral degrees and 13 with master's degrees[182]. - The company has implemented a structured salary system that includes basic salary, position salary, and allowances[182]. - The company is committed to a talent development plan that combines internal training and external recruitment to cultivate professionals aligned with corporate values[93]. - The company has implemented a scientific and reasonable equity incentive and compensation system to enhance talent utilization[147].

Product Development and Clinical Trials - The company's core product, injectable paclitaxel polymer micelles, is the first paclitaxel micelle product approved as a Class 2 innovative drug by the National Medical Products Administration, showing significant clinical advantages over traditional paclitaxel injections[1][3]. - The company has initiated over 20 clinical trials for its core product, targeting various cancers including breast, lung, and pancreatic cancers, with ongoing Phase III trials for expanded indications[5]. - The injectable paclitaxel polymer micelles are expected to expand their indications to small cell lung cancer, breast cancer, pancreatic cancer, and ovarian cancer, further increasing market potential[5]. - The company has submitted clinical trial application materials to CFDA for a new product, awaiting approval for trials targeting patients with PD-L1 expression < 1%[6]. - The phase III clinical trial of injectable paclitaxel polymer micelles is being conducted in 24 hospitals across China, with significant involvement from influential institutions in the lung cancer field[55]. - The company is exploring the efficacy and safety of its injectable paclitaxel polymer micelle in various cancers, including breast, ovarian, and lung cancers[5]. - The company has designed clinical trials to evaluate the clinical benefits of its new drug compared to existing treatments, focusing on progression-free survival and objective response rates[23]. - The company is advancing the clinical research of cabazitaxel micelles and developing two targeted nano paclitaxel polymer micelles for pancreatic and prostate cancer treatments[115][116]. Financial Performance - The company reported a total revenue of 179,650,000.00 CNY for the year, with a net profit attributable to shareholders of 143,166,400 CNY, representing a profit distribution ratio of 30.22%[23]. - The company achieved a significant revenue increase in 2022, reporting total revenue of CNY 235.957 million, driven by the commercialization of its core product, injectable paclitaxel polymer micelles[72]. - The net profit attributable to shareholders turned positive, primarily due to sales from paclitaxel micelles and increased income from structured deposits[72]. - The net cash flow from operating activities also turned positive, reflecting sales revenue from paclitaxel micelles[72]. - The company reported a basic earnings per share and diluted earnings per share that turned positive, indicating improved profitability due to increased sales volume of paclitaxel micelles[72]. - The company reported a net profit of RMB 102.79 million after deducting non-recurring gains and losses, compared to a loss of RMB 17.73 million in the previous year[98]. - The company’s operating revenue for 2022 reached ¥235,957,004.22, a significant increase of 5,686.75% compared to ¥4,077,536.27 in 2021[85]. - The net profit attributable to shareholders for 2022 was ¥142,854,906.22, recovering from a loss of ¥3,997,050.73 in 2021[85]. - The net cash flow from operating activities improved to ¥110,784,705.94 in 2022, compared to a negative cash flow of ¥48,784,143.53 in 2021[85]. Research and Development - Research and development (R&D) expenses totaled approximately ¥7.93 million, a decrease of 40.14% compared to the previous year, primarily due to the recent approval of the core product and the early stage of new projects[12][13]. - The R&D investment as a percentage of operating income is reported at 3.36%, reflecting the company's commitment to innovation despite the reduction in overall R&D spending[12]. - The average salary of R&D personnel increased to CNY 212,834, up from CNY 116,889 in the previous year, reflecting a focus on talent retention and development[70]. - The proportion of R&D personnel in the total workforce decreased to 11.52% from 22.95% year-on-year, indicating a potential shift in workforce allocation[70]. - The company has maintained a stable core technical team with no turnover, ensuring continuity in research and development efforts[27]. - The company has a total of 3 patents granted, with no new applications filed during the reporting period[41]. - The company has developed a unique nanomedicine delivery system (DDS) platform, significantly enhancing the safety and efficacy of classic drugs through nanotechnology innovations[137]. Market and Competition - The global lung cancer market presents a substantial opportunity, with 1.929 million new cancer cases reported in 2020, and lung cancer being the most prevalent in China with 815,600 new cases[4]. - The company is facing market competition from existing paclitaxel formulations, including generic versions of albumin-bound paclitaxel, which are limited to breast cancer indications[72]. - The company plans to continue expanding its market presence and product offerings in the oncology sector, leveraging its unique product advantages[72]. - The company aims to expand the clinical trial indications for paclitaxel micelles and enhance its marketing network to strengthen its competitive advantage[152]. Production and Supply Chain - The company has established a production line for paclitaxel micelles in compliance with GMP standards, ensuring stable supply of raw materials for commercial production[9]. - The company has signed cooperation agreements with raw material suppliers to ensure a stable supply chain for its production needs[9]. - The company is constructing a project to produce 5 million units of injectable paclitaxel polymer micelles annually, which will ensure the supply of paclitaxel micelles and provide facilities for future product development and production[54]. - The construction of a new factory is currently in the approval stage, which is expected to enhance production capacity to meet future market demand[93]. - The company is constructing a new production line with an annual capacity of 1 million units of injectable paclitaxel polymer micelles, expected to be commercially operational by mid-2023[111]. Marketing and Sales - The company established a self-operated marketing team of over 120 members, enhancing its marketing framework and operational efficiency[99]. - By the end of the reporting period, the company's products were successfully listed in 27 provinces and cities across the country, primarily sold through outpatient DTP pharmacies[100]. - The company plans to enhance its marketing network and expand product penetration following the inclusion of its core product in clinical guidelines[94]. - The sales team has grown to over 120 members by the end of 2022, focusing on professional and dedicated marketing personnel with relevant experience in oncology drug sales[126]. Quality Control and Compliance - The company adheres to strict quality control measures throughout the production process to ensure compliance with GMP standards[125]. - The company has established a comprehensive quality management system to ensure compliance with GMP standards for drug production[143]. Risks and Challenges - The company faces risks related to the uncertainty of entering the national medical insurance directory, which could impact product pricing and competitiveness[175]. - The company is exposed to financial risks due to potential price declines in the pharmaceutical market, which may affect future sales revenue and net profit[178]. - The company is facing uncertainties regarding future sales due to market environment changes and sales channel dynamics[159]. - The company emphasizes the importance of adapting to regulatory changes in the healthcare system to mitigate potential adverse impacts on operations[161].

Financial Performance - The company's revenue for Q3 2022 was ¥94,452,700.31, with a year-to-date total of ¥166,323,453.90[6] - Net profit attributable to shareholders for Q3 2022 was ¥43,187,132.98, with a year-to-date total of ¥104,166,331.29[6] - The net profit excluding non-recurring gains and losses for Q3 2022 was ¥35,177,119.23, with a year-to-date total of ¥81,968,698.75[10] - Basic and diluted earnings per share for Q3 2022 were both ¥0.41, with a year-to-date figure of ¥0.98[10] - Net profit for the third quarter of 2022 was CNY 104,166,331.29, compared to a net loss of CNY 20,123,712.28 in the same quarter of the previous year[37] - Basic and diluted earnings per share for the third quarter of 2022 were both CNY 0.98, recovering from a loss of CNY 0.24 per share in the previous year[39] - The company reported a total profit of CNY 103,248,920.62 for the third quarter of 2022, recovering from a loss of CNY 20,123,712.28 in the same period last year[37] Cash Flow - The net cash flow from operating activities for Q3 2022 was ¥70,019,575.97, with a year-to-date total of ¥99,165,596.06[10] - The net cash flow from operating activities amounted to ¥99,165,596.06, a significant increase compared to the previous period's negative cash flow of -¥41,368,988.62[42] - Cash inflow from investment activities totaled ¥2,525,653,629.81, while cash outflow was ¥2,036,343,350.00, resulting in a net cash flow of ¥489,310,279.81[42] - The net cash flow from financing activities was -¥16,889,538.47, contrasting sharply with the previous period's positive cash flow of ¥952,364,102.38[44] - The cash flow from tax refunds received was ¥5,520,916.08, indicating a stable cash inflow from tax-related activities[42] Assets and Liabilities - Total assets at the end of Q3 2022 were ¥1,329,759,006.85, representing a 10.76% increase from the end of the previous year[10] - Shareholders' equity attributable to the parent company at the end of Q3 2022 was ¥1,279,706,091.32, an increase of 8.86% from the end of the previous year[10] - Total liabilities as of the reporting date were CNY 50,052,915.53, up from CNY 25,022,140.96 in the previous year[30] - The total current assets amounted to CNY 1,109,721,866.50, an increase from CNY 993,551,276.42 at the end of 2021, reflecting a growth of approximately 11.7%[24] - Total assets as of September 30, 2022, were CNY 1,329,759,006.85, up from CNY 1,200,561,900.99, reflecting a growth of about 10.7%[28] - The total liabilities included accounts payable of CNY 35,384,401.56, which increased from CNY 1,115,966.66, showing a growth of approximately 3065.5%[28] Research and Development - R&D investment for Q3 2022 was ¥2,210,477.16, a decrease of 42.69% year-over-year, with R&D investment accounting for 2.34% of revenue[10] - Research and development expenses for the third quarter of 2022 were CNY 4,748,526.47, down from CNY 12,936,135.66 in the previous year[34] Shareholder Information - The number of common shareholders at the end of the reporting period was 6,048, with the largest shareholder holding 19.50% of the shares[21] Other Information - The company has not disclosed any new product developments or market expansion strategies in the current report[23]

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥71,870,753.59, a significant increase compared to the previous year when no revenue was recorded[30]. - Net profit attributable to shareholders was ¥60,979,198.31, a substantial increase from a loss of ¥12,226,159.95 in the same period last year[30]. - The net cash flow from operating activities improved to ¥29,146,020.09, up from a negative cash flow of ¥33,488,733.71 in the previous year[30]. - The company's total assets increased by 4.12% to ¥1,250,027,018.61 compared to the end of the previous year[30]. - The net assets attributable to shareholders rose by 5.19% to ¥1,236,518,958.34[30]. - Basic earnings per share for the first half of 2022 were ¥0.58, compared to a loss of ¥0.15 per share in the same period last year[30]. - The weighted average return on net assets increased to 5.06%, up by 10.21 percentage points from the previous year[30]. - The company reported a significant increase in sales revenue due to the launch of its core product, Paclitaxel Micelles, which was approved in October 2021, resulting in increased operating costs in the first half of this year[96]. - The net profit attributable to the parent company was CNY 60.98 million, with a net profit of CNY 46.79 million after deducting non-recurring gains and losses, indicating a successful recovery[86]. Research and Development - Research and development expenses accounted for 3.53% of operating revenue[30]. - The core product, injectable paclitaxel polymer micelles, completed R&D and was approved for market in the previous year, leading to a decline in R&D investment this half-year[65]. - The company plans to increase R&D expenses in the second half of the year as it expands clinical trials and develops related pipeline products[65]. - The company is actively conducting preclinical research on cabazitaxel micelles, utilizing advanced core technology to develop targeted drug delivery systems[60]. - The company has applied for and obtained three invention patents related to its core product, covering key technologies in drug formulation and production processes[56]. - The company’s research and development model emphasizes self-innovation, including preclinical and clinical studies, as well as establishing production processes compliant with GMP standards[51]. - The company is developing two targeted peptide-mediated nano paclitaxel polymer micelles to improve drug delivery and efficacy in tumor treatment[60]. - The company has accumulated 3 invention patents related to the key technologies for the production of injectable paclitaxel polymer micelles as of June 30, 2022[61]. - The company’s injectable paclitaxel micelles show significant clinical advantages over traditional paclitaxel injections, including lower neurotoxicity and reduced incidence of severe neutropenia[75]. Market and Product Development - The increase in revenue was primarily due to the commercialization of paclitaxel micelles, which were approved for sale in October 2021[30]. - The company has developed a core product, "Injectable Paclitaxel Polymer Micelles," which is a new formulation of paclitaxel approved for the treatment of non-small cell lung cancer[39]. - The injectable paclitaxel polymer micelles have shown significant clinical advantages, including a higher objective response rate (ORR) and progression-free survival (PFS) compared to other marketed formulations[40]. - The company is accelerating the construction of a project to produce 5 million units of injectable paclitaxel polymer micelles annually to meet increasing market demand[47]. - The company is expanding the indications for paclitaxel micelles to include small cell lung cancer, breast cancer, pancreatic cancer, gastric cancer, and ovarian cancer, which will broaden its market potential[79]. - The company focuses on establishing a differentiated advantage in the market by positioning its products effectively and enhancing brand recognition, particularly for its paclitaxel product line[50]. - The company’s core product, injectable paclitaxel polymer micelles, received approval on October 26, 2021, and is the first paclitaxel micelle product approved in China, filling a gap in the domestic and international market[56]. Financial Management and Capital Structure - The company plans to increase its capital reserve by converting it into equity, proposing a distribution of 3.6 shares for every 10 shares held[7]. - The total amount of funds raised from the initial public offering was CNY 100,774.50 million, with a net amount after deducting issuance costs of CNY 93,603.05 million[171]. - The total committed investment amount for the fundraising projects is CNY 103,328.00 million, with an adjusted total of CNY 93,603.05 million[171]. - The project for the annual production of 5 million injection-use paclitaxel polymer micelles has a committed investment of CNY 42,768.00 million, with CNY 33,043.05 million invested to date, achieving a progress rate of 5.16%[172]. - The marketing network construction project has a committed investment of CNY 10,000.00 million, with CNY 385.24 million invested, achieving a progress rate of 3.85%[175]. - The project for supplementary working capital and business development funds has a committed investment of CNY 30,000.00 million, with CNY 2,941.09 million invested, achieving a progress rate of 9.80%[175]. - The cumulative investment progress for all projects as of the reporting period is 5,032.42 million, which is 5.38% of the total committed investment[176]. Compliance and Governance - The company has received a standard unqualified audit report from the accounting firm[6]. - There are no significant risks impacting the company's operations during the reporting period[5]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[117]. - The company adheres to national environmental laws and has implemented waste management systems to ensure compliance[121]. - The company confirms that the contents of the prospectus do not contain false records, misleading statements, or significant omissions, and will bear corresponding legal responsibilities[146]. - The company will comply with the "Stabilization Stock Price Plan" and urge relevant parties to fulfill their responsibilities under this plan[142]. - The company has committed to strictly fulfill all public commitments made during the issuance and listing process[159]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[161]. - The company has not faced any legal violations or penalties involving its directors, supervisors, senior management, or controlling shareholders during the reporting period[163]. Challenges and Future Outlook - The company faced delays in project implementation due to the impact of the COVID-19 pandemic, affecting the registration approval timeline for the injection-use paclitaxel polymer micelles[172]. - The company has faced challenges due to the COVID-19 pandemic but has actively worked on academic promotion and market expansion to mitigate impacts[86]. - The uncertainty regarding the inclusion of the paclitaxel micelle product in the national medical insurance directory poses a risk to its market competitiveness and pricing strategy[88]. - Future outlook remains stable with no major disruptions or changes anticipated in the pension fund landscape[199].

Financial Performance - The company's operating revenue for Q1 2022 was ¥34,342,009.48[6] - Net profit attributable to shareholders was ¥30,744,481.85[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥23,121,579.60[6] - Operating profit for Q1 2022 was ¥29,831,825.13, a significant recovery from a loss of ¥5,504,351.33 in Q1 2021[28] - The net profit for the first quarter of 2022 was CNY 30,744,481.85, a significant recovery from a net loss of CNY -5,504,351.33 in the same period of 2021[30] - Basic and diluted earnings per share were both ¥0.29[6] - Basic and diluted earnings per share for the first quarter of 2022 were both CNY 0.29, compared to a loss of CNY -0.07 per share in the first quarter of 2021[30] Cash Flow - The net cash flow from operating activities was ¥21,232,493.06[6] - Cash inflow from operating activities totaled CNY 30,312,144.85, a substantial increase from CNY 14,620.35 in the first quarter of 2021[33] - Cash outflow from operating activities was CNY 9,079,651.79, down from CNY 17,706,137.14 in the previous year, resulting in a net cash flow from operating activities of CNY 21,232,493.06[33] - Cash inflow from investment activities reached CNY 1,116,508,262.79, a significant rise from CNY 26,512,817.63 in the first quarter of 2021[36] - Cash outflow from investment activities was CNY 946,989,574.00, leading to a net cash flow from investment activities of CNY 169,518,688.79[36] - Cash inflow from financing activities was CNY 14,930,000.00, while cash outflow totaled CNY 15,064,925.28, resulting in a net cash flow from financing activities of CNY -15,064,925.28[36] - The ending balance of cash and cash equivalents was CNY 286,116,789.52, compared to CNY 144,881.03 at the end of the first quarter of 2021[36] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,216,939,914.59, an increase of 1.36% from the end of the previous year[8] - Total assets as of March 31, 2022, were ¥1,216,939,914.59, compared to ¥1,200,561,900.99 at the end of 2021[22] - Total liabilities decreased to ¥10,655,672.71 from ¥25,022,140.96 year-over-year[23] - Total equity attributable to shareholders was ¥1,206,284,241.88, an increase of 2.62% from the end of the previous year[8] - Shareholders' equity increased to ¥1,206,284,241.88 from ¥1,175,539,760.03 year-over-year[23] Research and Development - Total R&D investment was ¥1,456,396.10, a decrease of 62.10% compared to the previous period[8] - R&D investment accounted for 4.24% of operating revenue[8] - Research and development expenses for Q1 2022 were ¥1,456,396.10, down from ¥3,842,682.12 in Q1 2021[28] Other Financial Metrics - The weighted average return on equity was 2.58%[6] - Cash and cash equivalents increased to ¥286,116,789.52 from ¥110,430,532.95 year-over-year[19] - Accounts receivable rose to ¥17,657,489.45, up from ¥4,104,661.20 in the same period last year[19] - Inventory increased to ¥16,068,950.18 from ¥11,781,233.17 year-over-year[19] - The company received CNY 5,520,916.08 in tax refunds during the first quarter of 2022[33] - The company reported a significant increase in cash received from other operating activities, totaling CNY 848,660.77, compared to CNY 14,620.35 in the previous year[33]

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 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 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]