证券代码：688098 证券简称：申联生物 公告编号：2023-025 申联生物医药（上海）股份有限公司 关于参加 2022 年度生物制品专场集体业绩说明会的 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、准确性和完整性依法承担法律责任。 重要内容提示： 会议线上交流时间：2023 年 6 月 14 日(星期三)下午 14:00-15:00 会议召开方式：视频和线上文字互动 视频和线上文字互动平台：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 投资者可于 6 月 13 日(星期二)16:00 前通过邮件、电话将需要了解和关 注的问题提前提供给公司。公司将在文字互动环节对投资者普遍关注的问题进 行回答。 申联生物医药（上海）股份有限公司（以下简称"公司"）已于 2023 年 4 月 27 日发布公司《2022 年年度报告》，为便于广大投资者更全面深入地了解公司 2022 年年度经营成果、财务状况等信息，公司参与了由上交所主办的 2022 年度 生物制品专场集体业绩说明会，此次活动将采用视频和网络文字互 ...

Financial Performance - The company's operating revenue for 2022 was ¥328.59 million, a decrease of 8.32% compared to ¥358.43 million in 2021[23]. - The net profit attributable to shareholders for 2022 was ¥61.10 million, down 44.56% from ¥110.20 million in 2021[23]. - Basic earnings per share for 2022 were ¥0.15, a decline of 44.44% from ¥0.27 in 2021[24]. - The company's cash flow from operating activities decreased by 89.92% to ¥9.09 million, significantly impacted by delayed sales collections due to economic downturns[26]. - The company achieved an annual revenue of 329 million yuan, a decrease of 8.32% compared to the previous year[41]. - The company reported a total revenue of 18,640.00 million RMB for the year, with a net profit of 3,308.23 million RMB, reflecting a significant increase in performance[88]. - The company’s operating cost was CNY 81,395,617.32, down 6.43% year-on-year, with the main business cost decreasing by 6.47%[128]. - The gross margin for the main business was 75.19%, a decrease of 0.50 percentage points compared to the previous year[130]. - The sales revenue from government procurement was CNY 313,773,594.69, with a slight increase of 2.76% year-on-year[130]. - The market sales revenue dropped to CNY 14,100,343.40, a decrease of 73.11% compared to the previous year[130]. Research and Development - The company has developed unique vaccine technologies, including the i-Molsta and i-Nada, aimed at enhancing vaccine stability and efficacy[13]. - The company's R&D expenses increased by ¥4.09 million, representing 20.56% of operating revenue, up from 19.14% in 2021[24]. - The total R&D investment for the year was ¥67,545,075.67, a decrease of 1.52% compared to the previous year, with a ratio of R&D investment to operating income at 20.56%, up by 1.42 percentage points[85]. - The company has established multiple vaccine technology platforms, including inactivated vaccine, synthetic peptide vaccine, virus-like particle vaccine, and in vitro diagnostic technology platforms, enhancing its core competitiveness[76]. - The company is actively developing new veterinary drugs, including a bivalent inactivated vaccine for foot-and-mouth disease and a trivalent inactivated vaccine for swine diseases, which are currently in the registration phase[94]. - The company is focusing on independent innovation and increasing R&D investment in the veterinary biological products sector[82]. - The company has ongoing projects for vaccines against various diseases, including the African swine fever virus and foot-and-mouth disease[156]. - The company’s R&D investment accounted for 20.56% of operating revenue, which is significantly higher than the industry average of 15.04%[162]. - The company has not canceled any major R&D projects during the reporting period, indicating stability in its development pipeline[158]. Product Development and Innovation - The company launched the "Lian Yuan Jing" vaccine by the end of 2022, marking a significant product introduction[25]. - The company has completed the development of the bivalent inactivated vaccine for foot-and-mouth disease in cattle and sheep and submitted the product approval application[38]. - The company has developed a series of new inactivated vaccines utilizing advanced technologies, including gene engineering and high-efficiency suspension culture technology, addressing industry pain points[72]. - The company is actively advancing the development of mRNA vaccines and has made significant progress in laboratory research[38]. - The company has successfully launched the first-class new veterinary drug, a bivalent inactivated vaccine for foot-and-mouth disease (types O and A), which has received high customer recognition for its effectiveness and safety[72]. - The company has developed and obtained new veterinary drug registration certificates for multiple products, including a bivalent inactivated vaccine for foot-and-mouth disease, which has received approval for production[88]. - The company is expanding its product matrix to include a diverse range of veterinary products, contributing to the development of China's livestock industry[92]. - The company is developing a range of veterinary diagnostic products for major animal diseases, ensuring high sensitivity and specificity in its diagnostic kits[103]. - The company has received product approval for the pig circovirus type 2 subunit vaccine and is in the registration phase for several other vaccines, indicating a diverse product pipeline[78]. Corporate Governance and Compliance - The company is committed to maintaining high standards of corporate governance and transparency in its operations[8]. - The company has received a standard unqualified audit report from Da Hua Accounting Firm, ensuring the accuracy of its financial statements[6]. - The company’s board of directors and management have confirmed the authenticity and completeness of the annual report[5]. - The company emphasizes the importance of risk factors in its management discussion, urging investors to read the relevant sections carefully[5]. - The company has established a quality management system that complies with GMP and ISO9001 standards, enhancing overall quality control[42]. - The company has passed the biosecurity level three protection acceptance and strictly implements GMP management, maintaining controllable biosecurity risks[115]. - The company adheres to strict quality management practices, aligning with national veterinary drug regulations and international quality standards to ensure product quality[104]. Market Position and Strategy - The company is focused on expanding its market presence and enhancing its product offerings in the high-tech biomedical sector[2]. - The company is actively developing a comprehensive technical service and disease prevention solutions to enhance product penetration among end users[60]. - The company aims to optimize its service channels by establishing core service providers and benchmark customers to provide high-quality vaccine products and services to small and medium-sized farms nationwide[60]. - The company is recognized as a high-tech enterprise, benefiting from a reduced corporate income tax rate of 15% for three years, which could be impacted by future re-evaluations[120]. - The company is enhancing its marketing system to increase the market-oriented sales ratio, focusing on the sales of the "Taiji Lian" vaccine and the promotion of the new "Lian Yuan Jing" vaccine[187]. - The company is facing risks related to accounts receivable collection, particularly from government clients, which may be affected by economic downturns[119]. - The company is positioned in a technology-intensive industry with high barriers to entry, requiring significant investment in R&D and compliance with stringent safety and quality standards[69]. Talent and Management - The company implemented a talent strategy focused on optimizing the core management team and enhancing employee career development pathways[45]. - The number of R&D personnel decreased to 67, accounting for 18.36% of the total workforce, down from 23.23% in the previous year[90]. - The company has a core technical team consisting of Nie Dongsheng, Zhang Zhen, Yin Bo, and Ma Guijun, with Yin Bo being a new addition in 2023[200]. - The total pre-tax remuneration for the core technical personnel, including Ma Guijun, was 1 million yuan[200]. - Talent acquisition mechanisms are being improved to attract high-end talent in the biopharmaceutical industry, focusing on training mid-to-senior management personnel[192].

Financial Performance - The company's revenue for Q1 2023 was ¥81,851,831.18, representing a decrease of 8.08% compared to the same period last year[3] - Net profit attributable to shareholders was ¥15,867,632.60, down 33.69% year-on-year[3] - The company reported a net profit margin of approximately 22.0% for Q1 2023, compared to 28.0% in Q1 2022[16] - In Q1 2023, the company reported a net profit of CNY 15,867,632.60, a decrease of 33.5% compared to CNY 23,924,876.69 in Q1 2022[18] - Operating profit for Q1 2023 was CNY 19,162,338.23, down 33.2% from CNY 28,678,434.18 in the same period last year[20] - The company reported a total profit of CNY 19,111,308.51 in Q1 2023, a decrease of 33.1% from CNY 28,629,934.18 in Q1 2022[20] Research and Development - R&D expenses totaled ¥11,254,624.80, which is an increase of 10.54% compared to the previous year, accounting for 13.75% of revenue, up 2.32 percentage points[3] - The company is actively pursuing new technology and product development, with R&D expenses increasing significantly[6] - Research and development expenses increased to CNY 8,757,354.77, up 68.5% from CNY 5,196,621.48 in Q1 2022[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,600,170,365.42, a slight decrease of 0.31% from the end of the previous year[4] - Total assets as of March 31, 2023, were RMB 1,600,170,365.42, slightly down from RMB 1,605,083,700.71 at the end of 2022[13] - Total liabilities decreased to RMB 87,068,037.56 from RMB 108,209,232.05 at the end of 2022, a reduction of 19.5%[14] - Shareholders' equity increased to RMB 1,513,102,327.86 as of March 31, 2023, compared to RMB 1,496,874,468.66 at the end of 2022, an increase of 1.1%[14] Cash Flow - Cash and cash equivalents as of March 31, 2023, were RMB 45,884,713.20, down from RMB 52,742,562.11 at the end of 2022, representing a decrease of 13.4%[12] - Cash flow from operating activities showed a net outflow of CNY 32,986,013.65, an improvement from a net outflow of CNY 42,272,933.50 in Q1 2022[20] - Total cash and cash equivalents at the end of Q1 2023 were CNY 45,727,802.46, down from CNY 53,005,125.45 at the end of Q1 2022[21] - The company generated CNY 33,979,285.31 in cash from sales in Q1 2023, a significant increase from CNY 21,017,968.10 in Q1 2022, representing a growth of 61.2%[20] - Investment activities generated a net cash inflow of CNY 26,338,281.46 in Q1 2023, compared to CNY 51,106,906.26 in Q1 2022[21] Shareholder Information - The top shareholder, Yang Yufang, holds 21.93% of the shares, totaling 90,063,197 shares[8] - The basic earnings per share were ¥0.04, reflecting a decrease of 33.33%[3] - The basic earnings per share for Q1 2023 was CNY 0.04, down from CNY 0.06 in Q1 2022[18] Market and Sales - The company experienced a decline in sales due to delayed government procurement for foot-and-mouth disease vaccines, impacting revenue[6] - The company plans to focus on expanding its market presence and developing new products in the upcoming quarters[10]

Company Overview - Shunlian Bio is a high-tech enterprise specializing in the R&D, production, and sales of veterinary biological products, particularly foot-and-mouth disease (FMD) vaccines [1][2]. - The company holds 7 national new veterinary drug registration certificates, including 2 Class I new veterinary drugs, and has been granted 76 national patents, of which 27 are invention patents [2]. Product and Production Line - The company focuses on a dual-product strategy, with FMD vaccines as the main product and other animal vaccines and veterinary diagnostic reagents as supplementary [2]. - Shunlian Bio has developed a series of high-quality FMD synthetic peptide vaccines, including the first multi-valent synthetic peptide vaccine for pigs [2]. - The company has two production bases in Shanghai and Lanzhou, with production lines for inactivated vaccines and synthetic peptide vaccines that have passed GMP certification [2][3]. Recent Business Performance - In 2021, the company achieved a revenue of CNY 358.43 million, a year-on-year increase of 6.13%, with a compound annual growth rate of 18.83% over the past three years [3]. - The company sold over 3.2 billion doses of FMD vaccine products [3]. - R&D investment in 2021 totaled CNY 68.59 million, accounting for 19.14% of revenue, reflecting a year-on-year increase of 102.94% [3]. New Product Development - The new product "Taijilian," a bivalent inactivated vaccine for FMD, was launched in March 2021 and is expected to significantly enhance market share [3][4]. - The company is also developing several new products, including vaccines for porcine circovirus and swine fever, expected to be launched in the next 1-5 years [5]. Market Strategy and Future Outlook - The company plans to expand its market presence by enhancing sales capabilities and training for distributors, with a focus on large-scale breeding farms [4][5]. - The anticipated recovery of pig prices is expected to boost demand for vaccines, positively impacting the company's sales [4][7]. - The company aims to maintain steady growth while expanding into new vaccine products and markets, ultimately increasing shareholder returns [5][8].

Financial Performance - The company's revenue for Q3 2022 was ¥148,322,330.47, representing a year-over-year increase of 24.24%[4] - Net profit attributable to shareholders was ¥49,080,448.93, showing a slight increase of 3.39% compared to the same period last year[4] - The basic earnings per share for the quarter was ¥0.12, reflecting a decrease of 18.18% compared to the previous year[4] - Net profit for the third quarter of 2022 was ¥72,351,539.79, a decrease of 19.6% from ¥90,049,371.98 in the same quarter of 2021[18] - Basic earnings per share for the third quarter of 2022 were ¥0.18, down from ¥0.22 in the same period of 2021[18] - Total revenue for the first three quarters of 2022 reached ¥286,584,956.33, an increase of 5.4% compared to ¥272,415,976.87 in the same period of 2021[16] Research and Development - The total R&D expenditure for the quarter was ¥23,793,101.77, which is an increase of 117.73% year-over-year, accounting for 16.04% of total revenue[5] - Research and development expenses for the third quarter of 2022 were ¥26,393,024.56, an increase of 47.0% from ¥17,914,612.49 in the previous year[17] Assets and Liabilities - The company's total assets increased by 2.66% to ¥1,640,983,534.58 compared to the end of the previous year[5] - Total assets as of the end of the third quarter of 2022 amounted to ¥1,640,983,534.58, compared to ¥1,598,464,318.21 at the end of the third quarter of 2021[15] - Total liabilities increased to ¥126,878,877.83 in the third quarter of 2022, compared to ¥125,476,791.81 in the same period of 2021[15] Cash Flow - Cash flow from operating activities showed a significant decline of 395.61% year-to-date, primarily due to delayed payments from local animal epidemic prevention departments[8] - The net cash flow from operating activities was -41,221,111.53, a decrease from 13,944,598.26 in the previous quarter[21] - Cash inflow from investment activities totaled 1,570,790,119.34, compared to 2,723,589,766.03 in the prior quarter[21] - The net cash flow from investment activities was 59,062,990.00, a significant improvement from -12,187,583.03 in the previous quarter[21] - Cash outflow from financing activities was 36,932,899.32, slightly lower than 40,913,135.64 in the previous quarter[22] - The ending balance of cash and cash equivalents was 25,280,141.36, down from 82,949,840.46 in the previous quarter[22] Shareholder Information - The company reported a total of 10,614 common shareholders at the end of the reporting period[10] - The top shareholder, Yang Yufang, holds 90,063,197 shares, representing 21.93% of the total shares[10] - The total number of shares held by the top 10 shareholders accounts for 35.82% of the company's total shares[11] Inventory and Receivables - The total inventory as of September 30, 2022, was RMB 105,999,376.26, showing a slight increase from RMB 103,420,614.45 at the end of 2021[13] - Accounts receivable increased significantly to RMB 298,314,451.76, up from RMB 151,014,971.48, indicating a growth of about 97.8%[13] Other Information - The company has not disclosed any significant new product developments or technological advancements during the reporting period[12] - There were no significant mergers or acquisitions reported in the third quarter[12] - The company has not provided specific future guidance or outlook for the upcoming quarters[12]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥138,262,625.86, a decrease of 9.65% compared to ¥153,028,601.14 in the same period last year[20] - The net profit attributable to shareholders for the first half of 2022 was ¥23,284,086.22, down 47.58% from ¥44,421,029.76 in the previous year[20] - The net cash flow from operating activities was negative at -¥35,431,206.24, compared to a positive cash flow of ¥2,684,655.94 in the same period last year, representing a decline of 1,419.77%[20] - The total assets at the end of the reporting period were ¥1,578,341,221.32, a decrease of 1.26% from ¥1,598,464,318.21 at the end of the previous year[20] - The net assets attributable to shareholders decreased by 0.62% to ¥1,469,638,562.36 from ¥1,478,877,320.58 at the end of the previous year[20] - Basic earnings per share for the first half of 2022 were ¥0.06, down 45.45% from ¥0.11 in the same period last year[21] - The diluted earnings per share were also ¥0.06, reflecting the same decline of 45.45% compared to the previous year[21] - The company's revenue decreased by 9.65% year-on-year, primarily due to the sluggish market conditions in the pig farming industry, leading to a decline in product sales[23] - Net profit attributable to shareholders decreased by 47.58% year-on-year, while the net profit after deducting non-recurring gains and losses fell by 54.44%[23] - The basic and diluted earnings per share dropped by 45.45% compared to the same period last year, mainly due to the decline in revenue and high fixed asset depreciation costs associated with the new product "Taiji Lian" not reaching its designed capacity[23] Research and Development - The research and development expenditure accounted for 18.13% of operating revenue, a decrease of 1.33 percentage points from 19.46% in the previous year[21] - The company has established four major technology platforms: synthetic peptide vaccine technology, inactivated vaccine technology, virus-like particle vaccine technology, and in vitro diagnostic technology[70] - The company is recognized as a leading entity in the research and development of synthetic peptide vaccines for foot-and-mouth disease, focusing on the latest epidemic strains and technological advancements[70] - The company has developed the first domestic multi-valent synthetic peptide vaccine for foot-and-mouth disease (FMD) in pigs, which includes the O-type and A-type vaccines[49] - The company is actively increasing its research and development efforts for multivalent and multi-target vaccines to meet the evolving demands of disease prevention in livestock[48] - The company has achieved a 6.79% increase in expensed R&D investment, totaling approximately ¥16.14 million, while capitalized R&D investment decreased by 39.12% to approximately ¥8.93 million[61] - Total R&D investment amounted to ¥25,068,739.52, a decrease of 15.82% compared to the previous year[62] - The company has received a total of 3 new intellectual property rights during the reporting period, including 1 invention patent and 1 utility model patent[59] - The company is focusing on enhancing its "vaccine + diagnostics" product development pipeline, which is expected to strengthen its competitive position in the market[57] Market Position and Industry Overview - The company specializes in the research, production, and sales of veterinary biological products, focusing on foot-and-mouth disease vaccines and veterinary diagnostic products[28] - The company is a designated producer of foot-and-mouth disease vaccines, which are critical for preventing outbreaks that can cause significant economic losses in the livestock industry[29] - The main products include various types of foot-and-mouth disease vaccines and diagnostic kits for African swine fever, indicating a focus on addressing critical animal health issues[31] - The company achieved a sales revenue of 338 million yuan in 2020, ranking fifth in the domestic pig biological products market with a market share of 5.0%[41] - The average gross profit margin for the veterinary biological products industry was 63.67% in 2020, with an asset profit rate of 20.38%[38] - The company is a leading player in the domestic foot-and-mouth disease (FMD) peptide vaccine sector, being one of the first to develop and industrialize this vaccine globally[46] - The company has established stable long-term relationships with suppliers to ensure a steady supply of raw materials, which supports its production capabilities[33] - The company primarily sells foot-and-mouth disease vaccines through government tender procurement and market-oriented sales, with annual government tenders typically held 1-2 times based on local epidemic prevention needs[35] Environmental and Social Responsibility - The company has established and effectively operates its environmental protection facilities, meeting all discharge requirements for waste gas, wastewater, noise, and solid waste[131] - The total wastewater discharge in the first half of 2022 from the Shanghai outlet was 689.4 tons, with no exceedances in pollutant discharge limits for key pollutants[131] - The company has conducted regular drills for its emergency response plan to ensure preparedness for environmental incidents[141] - The company organized over 60 training sessions and served more than 2,000 farming households, impacting over 20 provinces in animal disease prevention[149] - A total of 4.85 million yuan was donated to the Gansu Poverty Alleviation Foundation for purchasing 100 sets of sports equipment for rural students[149] - The company donated 280,000 yuan for purchasing 59,000 pieces of medical protective equipment to support COVID-19 relief efforts in Shanghai[149] Governance and Compliance - The company has established strict guidelines to avoid related party transactions and will comply with relevant laws and regulations to protect the interests of shareholders[156] - The company has a lock-up period for shares held by executives, which lasts for 36 months post-IPO, with restrictions on transferring shares during this time[157] - The company will ensure that any related party transactions are disclosed and conducted in accordance with legal requirements to avoid harming the interests of the company and its shareholders[156] - The company has committed to avoiding any competitive activities with its subsidiaries during and after its tenure[180] - The company will strictly adhere to all public commitments made during the IPO process, with measures in place to address any failures to fulfill these commitments[176] Future Plans and Investments - The company plans to invest 34.15 million yuan in constructing animal live and inactivated vaccine workshops, with an expected annual sales increase of 32 million yuan and an annual profit increase of 9.6 million yuan[117] - The company aims to enhance its market competitiveness by focusing on technological innovation and quality improvement rather than traditional price competition[82] - The company will continue to invest in R&D and market expansion, focusing on improving product quality and production efficiency to strengthen competitiveness and increase market position[172] - The company aims to diversify its product offerings and business direction through the development of new vaccine technologies[192] - The company is advancing multiple vaccine projects, with several in the new veterinary drug registration and clinical trial stages[87]

Financial Performance - The company's operating revenue for 2021 was CNY 358,429,248.99, representing a 6.13% increase compared to CNY 337,732,400.53 in 2020[23]. - Net profit attributable to shareholders of the listed company decreased by 14.91% to CNY 110,201,862.80 from CNY 129,514,301.93 in the previous year[23]. - The net cash flow from operating activities was CNY 90,119,983.59, down 19.34% from CNY 111,730,338.42 in 2020[23]. - The company's total assets increased by 5.55% to CNY 1,598,464,318.21 at the end of 2021, compared to CNY 1,514,469,447.73 at the end of 2020[23]. - Basic earnings per share decreased by 15.63% to CNY 0.27 in 2021 from CNY 0.32 in 2020[24]. - The gross margin for the main business was 75.69%, down 7.98 percentage points from the previous year[110]. - The company achieved operating revenue of CNY 358.43 million, a year-on-year increase of 6.13%, with the main business revenue being CNY 357.79 million, up 6.05% from the previous year[105]. - Operating costs increased by 57.89% compared to the previous year, primarily due to the formal production and sales of the "Porcine Foot-and-Mouth Disease O-type and A-type Bivalent Inactivated Vaccine," leading to higher depreciation of fixed assets[107]. - The net profit attributable to shareholders was CNY 110.20 million, a decrease of 14.91% year-on-year[104]. - The net cash flow from investment activities worsened by 41.19%, from -90,099,196.87 to -127,210,857.42 RMB[119]. Research and Development - Research and development expenses accounted for 19.14% of operating revenue, an increase of 9.13 percentage points from 10.01% in 2020[24]. - Total R&D investment increased significantly to CNY 68,585,557.93, a 102.94% increase compared to the previous year[69]. - The company has increased its R&D output, with a total of 92 patent applications and 77 granted patents, reflecting its commitment to innovation[68]. - The company has established four major technology platforms, including synthetic peptide vaccine technology and inactivated vaccine technology, enhancing its competitive edge in the industry[78]. - The company is focusing on developing a competitive intellectual property system related to virus-like particle vaccine technology, with multiple proprietary technologies achieved[128]. - The company plans to increase R&D efforts for multivalent and multi-component vaccines to reduce the number of vaccinations required for livestock, addressing new demands in vaccine development[59]. - The company has made significant progress in developing a range of vaccines for swine diseases, including the recombinant foot-and-mouth disease vaccine and the three-in-one inactivated vaccine for swine infectious diseases[130]. Product Development and Innovation - The company successfully launched the new product "Tai Ji Lian," which won the "2021 Annual Influential Foot-and-Mouth Disease Vaccine" award in China[34]. - The company obtained new veterinary drug registration certificates for the bovine foot-and-mouth disease bivalent synthetic peptide vaccine and the porcine circovirus type 2 subunit vaccine[35]. - The company has developed the first domestic bivalent synthetic peptide vaccine for foot-and-mouth disease (FMD) in pigs, consisting of peptides 2700+2800+MM13[60]. - The company has successfully developed a bivalent inactivated vaccine for foot-and-mouth disease, which has received a first-class new veterinary drug registration certificate and is recognized for its high immunogenicity and protection[83]. - The company is actively developing other inactivated vaccines, including a subunit vaccine for porcine circovirus type 2, which is currently in trial production[65]. - The company has completed trial production of diagnostic kits for African swine fever and FMD, with ongoing efforts to obtain product approval numbers[67]. Market Position and Strategy - The company ranked fifth in the domestic pig biological products market with a sales amount of 338 million yuan in 2020, representing a market share of 4.88%[53]. - The company is actively expanding its product line, with ongoing projects for vaccines against porcine infectious gastroenteritis and porcine epidemic diarrhea[35]. - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[106]. - The company aims to focus on high-end markets and develop vaccines for major diseases affecting livestock, including foot-and-mouth disease and African swine fever[154]. - The company plans to launch a bivalent inactivated vaccine for foot-and-mouth disease, adjusting sales strategies to prioritize market sales over government procurement[155]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Dahua Certified Public Accountants, ensuring the accuracy of its financial statements[6]. - The company’s board of directors and management have confirmed the authenticity and completeness of the annual report, ensuring transparency[6]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties, ensuring financial integrity[8]. - The company has not violated decision-making procedures for external guarantees, maintaining compliance with regulations[8]. - The company emphasizes the importance of risk factors in its future operations, urging investors to carefully consider potential risks[7]. - The company strictly adheres to corporate governance regulations, ensuring the protection of shareholder rights and the effective operation of its governance structure[163]. Talent Development and Human Resources - The company has established a comprehensive talent development and incentive system to enhance team capabilities and cohesion[38]. - The R&D team consists of 69 members, accounting for 23.23% of the total workforce, with expertise in various fields such as biological engineering and veterinary medicine[88]. - The company aims to optimize its compensation incentive system to enhance employee motivation and creativity, conducting external salary surveys to ensure competitiveness[197]. - The company established the Shunlian Training Center in June 2021 to focus on employee growth and development, offering systematic learning environments[198]. Future Outlook and Guidance - The company provided guidance for the next fiscal year, projecting revenue growth of 25% to $625 million[174]. - The company plans to increase its marketing budget by 30% to support new product launches and market expansion efforts[176]. - Overall, the company remains optimistic about future growth, driven by strong user engagement and innovative product offerings[174].

Financial Performance - The company's operating revenue for Q1 2022 was ¥89,049,518.25, representing a year-on-year increase of 7.48%[2] - The net profit attributable to shareholders decreased by 15.7% to ¥23,928,559.11, while the net profit after deducting non-recurring gains and losses fell by 18.85% to ¥20,331,229.47[2] - Basic earnings per share were ¥0.06, down 14.29%, and diluted earnings per share were ¥0.05, down 28.57%[2] - Net profit for Q1 2022 was CNY 23,924,876.69, a decrease of 14.7% from CNY 27,985,577.40 in Q1 2021[18] - Earnings per share for Q1 2022 were CNY 0.06, down from CNY 0.07 in Q1 2021[18] Cash Flow - The net cash flow from operating activities was negative at -¥42,272,933.50, a decrease of 2.68% compared to the previous year[2] - In Q1 2022, the cash inflow from operating activities was $21,306,501.49, a decrease of 48.6% compared to $41,439,597.04 in Q1 2021[22] - The company reported a total cash inflow from operating activities of $21,017,968.10 in Q1 2022, which is a 48.5% decrease from $40,795,871.00 in Q1 2021[22] - The cash inflow from financing activities was $61,952.05, down 69.8% from $205,406.68 in Q1 2021[23] - The net cash flow from financing activities was $26,450.05, compared to $205,406.68 in the same quarter last year, indicating a significant decline[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,614,325,906.33, reflecting a slight increase of 0.99% from the end of the previous year[2] - Total current assets as of March 31, 2022, amounted to ¥738,843,284.22, a slight increase from ¥733,461,060.55 at the end of 2021[12] - Total liabilities for Q1 2022 were CNY 115,003,809.35, down from CNY 125,476,791.81 in Q1 2021[14] - The company’s total equity as of Q1 2022 was CNY 1,499,322,096.98, an increase from CNY 1,472,987,526.40 in Q1 2021[14] Research and Development - R&D investment totaled ¥10,181,801.73, a decrease of 27.95%, accounting for 11.43% of operating revenue, down 5.63 percentage points[2] - Research and development expenses for Q1 2022 were CNY 5,196,621.48, compared to CNY 4,904,462.76 in Q1 2021, reflecting a growth of 5.9%[17] Shareholder Information - Total number of common shareholders at the end of the reporting period was 11,086[8] - The largest shareholder, Yang Yufang, holds 90,063,197 shares, representing 21.93% of total shares[8] - The second largest shareholder, UNITED BIOMEDICAL, INC., holds 49,819,210 shares, representing 12.13% of total shares, with 1,815 shares frozen[8] - The company reported a total of 35.82% shareholding by the top four shareholders, indicating significant ownership concentration[9] Other Financial Information - The company reported non-recurring gains of ¥3,597,329.64, with government subsidies contributing ¥277,616.16 and investment income from entrusted management amounting to ¥2,489,808.51[5] - The company experienced a 421.65% increase in fair value gains from trading financial assets[6] - The financial statements for the first quarter of 2022 were not audited[10] - The impact of exchange rate changes on cash and cash equivalents was a negative $8.33 in Q1 2022, contrasting with a positive $14.08 in Q1 2021[23]

Financial Performance - The company's revenue for Q3 2021 was ¥119,387,375.73, representing a decrease of 19.08% compared to the same period last year[4]. - Net profit attributable to shareholders was ¥47,470,138.97, down 38.09% year-on-year[4]. - Basic earnings per share decreased by 42.11% to ¥0.11, primarily due to the decline in net profit[4]. - The company experienced a 9.84% decline in revenue for the year-to-date period, attributed to the relocation of the peptide vaccine production line[4]. - Total revenue for the first three quarters of 2021 was CNY 272,415,976.87, a decrease of 9.83% compared to CNY 302,156,760.61 in the same period of 2020[24]. - Net profit for the third quarter of 2021 was CNY 90,049,371.98, down 34.4% from CNY 137,427,634.06 in the same quarter of 2020[25]. - Total comprehensive income for the third quarter of 2021 was CNY 90,049,371.98, compared to CNY 137,427,634.06 in the same period of 2020, representing a decrease of approximately 34.5%[26]. - Basic earnings per share for Q3 2021 was CNY 0.22, down from CNY 0.34 in Q3 2020, reflecting a decline of about 35.3%[26]. Research and Development - Research and development expenses totaled ¥10,927,924.94, an increase of 57.65% compared to the same period last year, accounting for 9.15% of revenue[5]. - Research and development expenses totaled 75.79 million RMB, with increased capitalized R&D investments for new vaccines[9]. - The company plans to capitalize on the new veterinary drug registration certificate obtained for the swine circovirus type 2 subunit vaccine[8]. - The company is focused on expanding its market presence and enhancing its product offerings through new vaccine developments[9]. - The company’s two peptide vaccine products received approval for market sales in early September 2021[15]. Assets and Liabilities - Total assets increased by 6.51% to ¥1,613,017,261.81 compared to the end of the previous year[5]. - The company's total assets as of September 30, 2021, were CNY 1,613,017,261.81, an increase from CNY 1,514,469,447.73 at the end of 2020[21]. - Current assets totaled CNY 768,247,671.52, slightly down from CNY 793,859,102.41 at the end of 2020[19]. - Non-current assets increased to CNY 844,769,590.29 from CNY 720,610,345.32 at the end of 2020[19]. - The total liabilities increased to CNY 146,128,760.41 from CNY 118,203,564.13 at the end of 2020[20]. - The equity attributable to shareholders of the parent company reached CNY 1,468,877,302.00, up from CNY 1,396,412,887.45 at the end of 2020[21]. Cash Flow - Net cash flow from operating activities for the first nine months of 2021 was CNY 13,944,598.26, a significant improvement from a net outflow of CNY 5,398,127.50 in the same period of 2020[29]. - Cash inflow from operating activities totaled CNY 213,622,372.72 in Q3 2021, compared to CNY 146,441,506.58 in Q3 2020, indicating an increase of approximately 45.8%[29]. - Cash outflow from operating activities was CNY 199,677,774.46 in Q3 2021, compared to CNY 151,839,634.08 in Q3 2020, marking an increase of about 31.5%[29]. - The cash and cash equivalents balance at the end of Q3 2021 was CNY 82,949,840.46, down from CNY 134,758,718.48 at the end of Q3 2020, reflecting a decrease of approximately 38.5%[30]. - The company reported a total cash inflow from financing activities of CNY 8,566,589.30 in Q3 2021, compared to CNY 600,302.80 in Q3 2020, indicating a substantial increase[30]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,113[11]. - Major shareholder Yang Yufang holds 21.93% of the shares, while UNITED BIOMEDICAL, INC. holds 15.13%[11]. Management and Expenses - The increase in management expenses was mainly due to the rising costs associated with the foot-and-mouth disease inactivated vaccine[8]. - The company reported a total of ¥3,865,841.60 in non-recurring gains and losses for the current period[8]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, decreased by 32.44% year-on-year[9]. - Operating income declined due to a delay in production following the re-approval of the product in early September 2021[9]. - The company reported a total of 25,805,141.64 in employee compensation payable[34].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥153,028,601.14, a decrease of 1.03% compared to ¥154,617,434.39 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2021 was ¥44,421,029.76, representing a decline of 26.88% from ¥60,751,575.88 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥38,516,256.84, down 22.87% from ¥49,939,586.74 year-on-year[20]. - The net cash flow from operating activities was ¥2,684,655.94, a significant improvement from a negative cash flow of ¥2,860,364.18 in the same period last year[20]. - Basic earnings per share for the first half of 2021 were ¥0.11, down 26.67% from ¥0.15 in the same period last year[21]. - The weighted average return on net assets decreased by 1.52 percentage points to 3.12% from 4.64% in the previous year[21]. - The company achieved a total revenue of 3,380.84 million RMB in the first half of 2021, an increase from 1,696.79 million RMB in the same period last year, representing a growth of approximately 99%[57]. - The company achieved operating revenue of CNY 153.03 million, a year-on-year decrease of 1.03%[86]. - The net profit attributable to shareholders was CNY 44.42 million, down 26.88% year-on-year, primarily due to increased costs from promoting new products and relocating production lines[86]. Research and Development - The R&D investment as a percentage of operating revenue increased to 19.46%, up 8.97 percentage points from 10.49% in the previous year[21]. - The total R&D investment increased by 83.54% year-on-year, reaching CNY 29,778,425.13, with R&D expenses accounting for 19.46% of operating income[53]. - The capitalized R&D investment surged by 810.34% to CNY 14,663,163.75, significantly impacting the overall R&D investment structure[53]. - The company has successfully innovated five key core technologies for inactivated vaccines, enhancing its product competitiveness[41]. - The R&D team consists of 69 members, accounting for 23.23% of the total workforce, with expertise in various fields related to veterinary medicine and biotechnology[69]. - The company has applied for a total of 86 patents, with 6 new veterinary drug registration certificates obtained during the reporting period[51]. - The company has established multiple advanced technology platforms, including inactivated vaccine technology and virus-like particle vaccine technology, to strengthen its R&D capabilities[62]. Market Position and Products - The company specializes in the research, production, and sales of foot-and-mouth disease vaccines, which are critical for preventing outbreaks in livestock[25]. - The market for veterinary biological products in China reached a sales figure of 162.36 billion in 2020, showing a year-on-year increase of 37.17%[33]. - The average gross margin for the veterinary biological products industry was reported at 63.67% in 2020, indicating a healthy profitability level[33]. - The company is one of the designated producers of foot-and-mouth disease vaccines, which are mandatory for livestock immunization in China[26]. - The company is a leader in the domestic synthetic peptide vaccine field, maintaining the first market share in synthetic peptide vaccines for pigs from 2018 to 2020[40]. - The company has launched a new inactivated vaccine for foot-and-mouth disease, which officially commenced production in February 2021[78]. - The company has developed a new bivalent synthetic peptide vaccine for foot-and-mouth disease (FMD) with strong immunogenicity and safety, which has received a new veterinary drug registration certificate[66]. Financial Management and Investments - The company has established a fundraising management system to ensure that raised funds are used legally and specifically for expanding its vaccine production capabilities[145]. - The total amount of raised funds is CNY 40,017.50 million, with CNY 2,603.98 million invested in the current year[161]. - The cumulative amount of raised funds invested to date is CNY 21,635.63 million, which is 83.56% of the committed investment amount[161]. - The company has committed to using up to CNY 300 million of idle raised funds for cash management in safe, liquid bank financial products[163]. - The company has engaged in cash management by investing in structured deposits with various banks, including Shanghai Pudong Development Bank[165]. - The company plans to continue rolling over the idle funds within the approved limits and timeframe[164]. Environmental Compliance - The company has maintained compliance with all environmental discharge standards, with no exceedances reported for key pollutants such as ammonia nitrogen and chemical oxygen demand[115]. - The company has successfully managed its environmental impact, with no reported exceedances for any monitored pollutants during the reporting period[116]. - The company has implemented measures to ensure that all emissions, including nitrogen oxides and sulfur dioxide, are below regulatory limits[116]. - The company has installed online monitoring facilities for various pollutants, ensuring real-time monitoring of emissions[123]. - The company has conducted regular drills for emergency response plans related to environmental incidents[122]. Corporate Governance and Shareholder Relations - The company is committed to improving its governance structure to protect the rights of shareholders, especially minority shareholders[147]. - The company will strictly fulfill all public commitments made during the initial public offering and listing on the Sci-Tech Innovation Board[14]. - The company has established measures to avoid related party transactions that could harm the interests of shareholders[134]. - The company will ensure compliance with relevant laws and regulations regarding related party transactions[134]. - The company has made commitments that are independently enforceable, ensuring the validity of each commitment[134]. Strategic Initiatives - The company has established a technical service system to support customers, enhancing its market competitiveness through quality and service[70]. - The company has expanded its marketing network and sales team to improve service quality and enhance industry competitiveness[72]. - The company is preparing to expand its product line to include vaccines for other diseases and diagnostic reagents for veterinary use[32]. - The company plans to invest 341.52 million CNY in the construction of animal vaccine facilities, expecting an annual sales revenue increase of 320 million CNY and an annual profit increase of 96 million CNY post-production[97].