Financial Performance - The company's revenue for Q3 2021 reached ¥269,313,828.94, representing a 30.01% increase compared to the same period last year[6] - Net profit attributable to shareholders was ¥70,004,732.06, reflecting a 45.81% year-over-year growth[6] - For the first three quarters of 2021, the company achieved a revenue of RMB 748 million, representing a year-on-year growth of 46.62%[24] - The net profit attributable to shareholders for the same period was RMB 177 million, a year-on-year increase of 45.30%, with a net profit excluding non-recurring gains and losses of RMB 173 million, up 50.43%[24] - In Q3 2021, the company's revenue grew by 30.01% year-on-year, while the net profit attributable to shareholders increased by 45.81%[24] - The total profit amounted to CNY 198,044,745, up from CNY 144,528,260, reflecting a growth of 37.0%[41] - The net profit for the current period reached CNY 170,780,575, an increase of 40.3% compared to CNY 121,732,694 in the previous period[41] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥2,614,087,725.97, a 43.02% increase from the end of the previous year[10] - Total assets amounted to ¥2,614,087,725.97, compared to ¥1,827,787,915.29 in the previous year, indicating a growth of 43%[34] - Total liabilities increased to ¥1,029,685,128.46, up from ¥395,228,818.82, representing a 160.5% increase[34] - The company's total equity reached ¥1,584,402,597.51, compared to ¥1,432,559,096.47 in the previous year, marking an increase of 10.6%[34] Earnings and Shareholder Information - Basic and diluted earnings per share for the quarter were both ¥0.17, up 41.67% from the same period last year[10] - The basic and diluted earnings per share were both CNY 0.43, compared to CNY 0.30 in the previous period, marking a 43.3% increase[44] - The company reported a total of 7,508 common shareholders at the end of the reporting period[16] - The top shareholder, Yuan Jiandong, holds 27.69% of the shares, totaling 113,535,123 shares[16] Research and Development - Research and development expenses totaled ¥40,448,506.85 for the quarter, which is 15.02% of the revenue, indicating a strategic focus on R&D[10] - R&D investment for Q3 2021 was RMB 40.45 million, a 31.60% increase year-on-year, with total R&D investment for the first three quarters amounting to RMB 119.78 million[24] - Research and development expenses increased to ¥119,784,659.32 in the first three quarters of 2021, compared to ¥93,854,706.37 in 2020, reflecting a 27.7% rise[38] - The company submitted a new domestic patent application and obtained 9 domestic and 6 foreign patent authorizations in Q3 2021, bringing the total patents applied to 323 and authorized to 178[24] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was ¥82,574,695.65, showing a decline of 7.21% compared to the previous year[10] - Cash flow from operating activities generated CNY 82,574,696, slightly down from CNY 88,988,250 in the previous period[50] - Cash inflow from investment activities was CNY 312,232,703, while cash outflow was CNY 971,897,817, resulting in a net cash flow of -CNY 659,665,114[50] - The company made new equity investments in Huino Biopharmaceutical Technology (Hangzhou) Co., Ltd. and BRIGHT INNOVATIVE LP during the reporting period[27] Operational Highlights - The company experienced significant growth in its main business volume, contributing to the overall increase in revenue and profit margins[14] - The sales revenue from main business activities reached RMB 642 million, a 52.87% increase compared to the same period last year[24] - The revenue from raw material drugs was RMB 608 million, with significant growth in specific products such as Micafungin Sodium, which saw a 166.52% increase in revenue[24] - The construction progress of various projects, including the Taixing raw material drug and formulation production base, reached 81.47% completion[24] Other Financial Metrics - The weighted average return on equity increased to 4.56%, up 1.15 percentage points from the previous year[10] - The company reported a decrease in employee compensation payable to ¥9,722,636.04 from ¥29,077,459.45, a reduction of 66.5%[34] - Deferred tax assets decreased to ¥12,068,807.40 from ¥18,164,179.22, a decline of 33.7%[34] - The company experienced a significant increase in sales revenue, with cash received from sales reaching CNY 642,445,103, compared to CNY 524,772,947 in the previous period, reflecting a growth of 22.4%[46]

Financial Performance - The company reported a total revenue of 500 million CNY for the first half of 2021, representing a 20% increase compared to the same period last year[20]. - The net profit for the first half of 2021 was 100 million CNY, which is a 15% increase year-over-year[20]. - The company's operating revenue for the first half of 2021 was CNY 479,127,043.37, representing a year-on-year increase of 57.97%[27]. - Net profit attributable to shareholders was CNY 106,866,830.53, up 44.96% compared to the same period last year[28]. - The net profit after deducting non-recurring gains and losses was CNY 103,537,234.71, reflecting a growth of 47.79% year-on-year[28]. - The company achieved product sales revenue of CNY 420,636,700, which is a 73.99% increase compared to the same period last year[28]. - The revenue from Micafungin Sodium increased by 136.78% year-on-year, with a gross margin of 76.48%[90]. - The main business revenue grew significantly, with product sales revenue reaching CNY 420.64 million, up 73.99% year-on-year, and a gross margin of 52.57%[90]. - The revenue from Entecavir raw materials increased by 61.16% year-on-year, with a gross margin of 22.68%, up 6.10 percentage points from the same period last year[92]. - The revenue from Sulodexide raw materials surged by 221.52% year-on-year, with a gross margin of 58.90%, an increase of 3.21 percentage points compared to the previous year[92]. Research and Development - Research and development expenses increased by 25% to 50 million CNY, reflecting the company's commitment to innovation[20]. - The company's R&D expenses increased by 25.69%, but the ratio of R&D expenses to operating revenue decreased by 4.25 percentage points to 16.56%[30]. - R&D investment totaled approximately ¥79.34 million, representing a 25.69% increase from the previous period, with R&D expenses accounting for 16.56% of operating revenue, a decrease of 4.25 percentage points[57]. - The company has developed over 40 high-end chemical drugs, including Entecavir and Posaconazole, mastering the entire production chain from raw materials to formulations[39]. - The company is focusing on developing antibody-drug conjugates (ADCs) and peptide-drug conjugates (PDCs) as part of its oncology research efforts[50][51]. - The company is focusing on expanding its innovative drug pipeline based on its conjugated drug technology platform, aiming for clinical value-driven development[56]. - The company has established multiple drug technology research platforms, including fermentation semi-synthesis, multi-chiral drug synthesis, and inhalation formulations, covering various therapeutic areas[40]. - The company has achieved significant progress in its drug development pipeline, with multiple products having passed regulatory evaluations and submitted for approval[65]. Market Expansion and Strategy - The company plans to launch two new products in the next quarter, targeting a market size of 1 billion CNY[20]. - The company aims for a revenue growth target of 25% for the full year 2021, driven by new product launches and market expansion[20]. - The company is actively expanding its market presence globally, with products registered in major international markets such as the US, EU, Japan, and South Korea[85]. - The company is adapting to market changes by focusing on differentiated products and innovative drug development, responding to the evolving pharmaceutical landscape[89]. - The company is pursuing a strategy of integrated production from raw materials to finished formulations, enhancing its operational efficiency and market competitiveness[85]. - The company is actively pursuing regulatory approvals for various products, including anti-tumor and anti-fungal drugs, with several already submitted for production licenses[65]. Investments and Acquisitions - The company is exploring potential acquisitions to enhance its product portfolio and market presence[20]. - The company made a new equity investment of RMB 20 million in Beijing InnoRegen Biopharmaceutical Technology Co., accounting for 4.0535% of its total shares, focusing on innovative drugs for heart failure[102]. - The company invested RMB 20 million in Litekan (Suzhou) Biopharmaceutical Co., representing 15.0376% of its total shares, which is engaged in the development of innovative biopharmaceuticals[102]. - The company also invested RMB 5 million in Wuhan Yuxiang Pharmaceutical Technology Co., holding 15% of its total shares, which focuses on the development of small molecule innovative drugs[102]. - The company invested RMB 13.2 million in Suzhou Langyu Yuanfeng Venture Capital Partnership, which primarily invests in cutting-edge biomedicine and healthcare technology, with a total fund size of RMB 200 million, and the company’s commitment is RMB 44 million, accounting for 22% of the fund[102]. Environmental Responsibility - The company has established a wastewater treatment system with a capacity of 250 tons per day and a design operation time of 7200 hours[151]. - The company has invested in pollution prevention facilities and adheres to national and local environmental laws and regulations[155]. - The company’s air pollution control facilities achieve a treatment efficiency of over 90% for various organic compounds[151]. - The company has a comprehensive internal control system for waste management and environmental protection[155]. - The company is committed to optimizing production processes to effectively manage and treat major pollutants generated during operations[155]. - The company conducts biannual environmental monitoring through qualified third parties, with a consistent increase in total environmental investment aligning with the rise in pollutant emissions[159]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[160]. - The company has actively implemented national and local environmental protection requirements across its subsidiaries, ensuring no violations occurred by the end of the reporting period[160]. Corporate Governance - The board of directors confirmed that all members attended the board meeting, ensuring governance compliance[6]. - The company has implemented a restricted stock incentive plan for 2021, which was disclosed in a temporary announcement[145]. - The company will publicly disclose any failure to fulfill its commitments and apologize to shareholders and the public[179]. - The company will take necessary measures to ensure the effective implementation of its commitments and will publicly disclose any failures to fulfill these commitments[199]. - The company will face personal responsibility for directors and senior management if commitments are not fulfilled, including potential salary reductions[199].

Financial Performance - Operating revenue rose by 45.42% to CNY 188,839,905.34 year-on-year[18] - Net profit attributable to shareholders increased by 42.84% to CNY 48,604,937.62 compared to the same period last year[18] - Basic earnings per share increased by 50.00% to CNY 0.12 compared to CNY 0.08 in the same period last year[18] - The company reported a total comprehensive income of approximately ¥48.14 million for Q1 2021, compared to ¥33.97 million in Q1 2020, an increase of 41.6%[55] - Net profit for Q1 2021 reached approximately ¥48.59 million, compared to ¥34.03 million in Q1 2020, representing a growth of 42.9%[55] - The company reported a decrease in total profit to CNY 16,065,986.76 from CNY 25,574,490.39 year-over-year[60] Cash Flow - The net cash flow from operating activities was CNY 3,458,038.02, a significant recovery from a negative cash flow of CNY -4,640,677.09 in the previous year[18] - Cash flow from financing activities resulted in a net inflow of CNY 255,955,908.71, significantly higher than CNY 5,000,000.00 in Q1 2020[66] - The net cash flow from operating activities was negative at RMB -30,296,450.16, worsening from RMB -26,529,151.51 in the same period last year[68] - The company experienced a net increase in cash and cash equivalents of RMB 60,030,741.20, contrasting with a decrease of RMB -74,794,618.28 in Q1 2020[71] Assets and Liabilities - Total assets increased by 16.35% to CNY 2,126,636,828.32 compared to the end of the previous year[18] - Current assets totaled ¥1,283,227,220.30 as of March 31, 2021, compared to ¥1,235,512,188.38 at the end of 2020, indicating a growth of about 3.9%[45] - Non-current assets increased to ¥756,209,120.67 from ¥582,827,117.13, reflecting a growth of approximately 29.7%[45] - Total liabilities amounted to ¥641,917,411.78, up from ¥436,396,262.23, marking an increase of about 47%[47] - Long-term borrowings surged to ¥339,792,456.47 from ¥77,410,000.00, indicating a significant increase of approximately 338%[47] Shareholder Information - The total number of shareholders at the end of the reporting period was 5,099[20] - The largest shareholder, Yuan Jiandong, holds 27.69% of the shares, totaling 113,535,123 shares[20] Research and Development - R&D investment as a percentage of operating revenue decreased by 11.46 percentage points to 11.71%[18] - Research and development expenses for Q1 2021 were approximately ¥12.76 million, down from ¥20.38 million in Q1 2020, indicating a decrease of 37.5%[57] Government Support - The company received government subsidies amounting to CNY 492,308.21 during the reporting period[20] Other Financial Metrics - The weighted average return on equity increased by 0.78 percentage points to 3.34%[18] - The company’s financial expenses showed a significant improvement, with a gain of ¥2,543,741.26 compared to a loss of ¥1,747,139.89 in the previous year[30] - The company incurred a credit impairment loss of CNY -285,176.10, compared to a gain of CNY 195,540.07 in the previous year[60]

Financial Performance - The company reported a standard unqualified audit opinion from Tianye Certified Public Accountants[6]. - The company's operating revenue for 2019 was approximately ¥503.16 million, representing a year-over-year increase of 56.09%[31]. - The net profit attributable to shareholders for 2019 was approximately ¥111.08 million, reflecting a growth of 52.93% compared to the previous year[31]. - The net cash flow from operating activities increased by 153.42% year-over-year, amounting to approximately ¥61.33 million[31]. - The basic earnings per share for 2020 was ¥0.41, a 36.67% increase from ¥0.30 in 2019[31]. - The company's total assets at the end of 2019 were approximately ¥1.83 billion, a 28.60% increase from the previous year[31]. - The company reported a total revenue of 44,200.00 million RMB, with a net profit of 6,633.58 million RMB for the year[90]. - In 2020, the company achieved operating revenue of 785.38 million yuan, an increase of 56.09% year-on-year[105]. - The net profit attributable to shareholders was 169.88 million yuan, up 52.93% compared to the previous year[105]. - The net operating cash flow reached 155.43 million yuan, reflecting a significant increase of 153.42% year-on-year[105]. Research and Development - Research and development expenses accounted for 17.93% of operating revenue in 2020, down from 24.82% in 2019[34]. - The company invested a total of approximately ¥140.84 million in R&D for the year, representing a 12.79% increase from the previous year[82]. - The R&D investment accounted for 17.93% of the company's operating revenue, down from 24.82% in the previous year, indicating a decrease of 6.89%[82]. - The company has submitted 21 new patent applications and obtained 33 patents during the reporting period, bringing the total to 310 applications and 140 granted patents[81]. - The company has a R&D team of over 270 people and has established advanced drug technology platforms with independent intellectual property rights[179]. - The company's R&D investment is higher than the industry average, with a ratio of 17.93% of revenue compared to the industry average of 10.16%[192]. Product Development and Pipeline - The company has developed over 40 high-end chemical drugs, including Entecavir and Micafungin, mastering the entire production chain from raw materials to formulations[46]. - The company is focusing on the development of high-end formulations, including liposomes and nano-formulations, to meet international quality standards[56]. - The company is actively involved in the development of urgently needed clinical drugs, particularly for rare diseases and pediatric medications[56]. - The company has successfully developed multiple high-value products through its fermentation semi-synthesis platform, including caspofungin and micafungin, with approvals for injectable formulations in Europe[62]. - The company has developed a new class of drugs, BGC0222, which has completed technology transfer and is currently in Phase 1 clinical trials[77]. - The company is preparing to submit IND for innovative drug BGC0228, which is in the preclinical research phase[180]. Market Presence and Strategy - The company is expanding its market presence through direct sales and partnerships with local agents in international markets[48]. - The company has established a diversified profit model, integrating raw materials and formulations, and balancing international and domestic markets[52]. - The company is pursuing a strategy of integrated production from raw materials to formulations, enhancing its competitive edge in the pharmaceutical industry[99]. - The company is actively expanding its international market presence, achieving a 76.35% increase in overseas sales revenue to 407.79 million yuan[106]. - The company aims to provide comprehensive technical solutions to international pharmaceutical companies, sharing profits from formulation sales[100]. Financial Management and Risks - The company has maintained a reasonable level of working capital, contributing to significant growth in operating cash flow[35]. - The company faced risks related to price fluctuations in generic drugs due to increased competition and policy changes[117]. - The company is committed to maintaining product quality and compliance with national standards to mitigate quality control risks[118]. - The company plans to continue expanding its market presence and product offerings, focusing on new product development and strategic partnerships[133]. Regulatory and Compliance - The company has not reported any violations in decision-making procedures for external guarantees[9]. - The company has successfully registered multiple products, including 1,500.00 million RMB for Oseltamivir Phosphate and 2,500.00 million RMB for Posaconazole API, with all meeting regulatory requirements[88]. - The company has submitted multiple raw material products for international registration, with 2 products approved in various countries[179]. - The company has completed the registration or obtained production licenses for 3 products, including Injection Acetate of Caspofungin and Injection Micafungin Sodium[185]. Operational Efficiency - The company has implemented a strict procurement and supplier management system to enhance production efficiency and quality control[47]. - The company maintained a reasonable inventory level at the end of the year, ensuring a balanced supply and demand for its products[138]. - The company's cash and cash equivalents decreased by 39.90% to 339,533,514.62 RMB, primarily due to increased capital expenditures and bank borrowings[157]. - The total cost of goods sold amounted to approximately 353.08 million, reflecting a year-on-year increase of 95.22%[139].

Financial Performance - Net profit attributable to shareholders was ¥121,732,693.55, representing a 90.89% increase year-on-year[18]. - Operating income for the first nine months was ¥510,460,593.41, up 62.86% from the same period last year[18]. - Basic earnings per share increased to ¥0.30, a rise of 76.47% compared to the previous year[20]. - The company reported a net profit of ¥276,666,147.98, up from ¥188,553,454.43, indicating a growth of approximately 46.6%[45]. - Total operating revenue for Q3 2020 reached ¥207,153,467.78, a 100.5% increase from ¥103,151,713.44 in Q3 2019[55]. - Net profit for Q3 2020 was ¥48,010,101.65, compared to ¥22,416,532.06 in Q3 2019, representing a 113.5% increase[58]. - The company reported a total profit of ¥58,762,806.31 for Q3 2020, compared to ¥26,804,375.35 in Q3 2019, indicating a 118.5% increase[58]. - Total comprehensive income for the first three quarters of 2020 was ¥80,516,988.68, compared to ¥59,982,303.81 in the same period of 2019, indicating a growth of 34.3%[65]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,666,553,338.58, an increase of 17.26% compared to the end of the previous year[18]. - Total assets increased to ¥1,666,553,338.58, up from ¥1,421,296,902.39, representing a growth of approximately 17.3% year-over-year[43]. - Non-current assets totaled ¥607,208,517.98, compared to ¥359,251,049.87, indicating a significant increase of about 69.1%[43]. - Current liabilities rose to ¥255,924,512.48 from ¥108,210,883.50, reflecting an increase of approximately 136.5%[45]. - Total liabilities amounted to ¥277,124,512.48, up from ¥108,210,883.50, marking an increase of approximately 156.1%[45]. - Total liabilities increased to ¥297,366,060.82 in Q3 2020 from ¥152,675,786.14 in the same period last year, marking a 94.5% rise[55]. - Total assets reached ¥1,659,602,703.70 in Q3 2020, up from ¥1,470,963,482.82 in Q3 2019, representing a growth of 12.8%[55]. Cash Flow - The net cash flow from operating activities for the first nine months was ¥88,988,249.62, a significant increase of 1,260.87% compared to the previous year[18]. - The net cash flow from operating activities was RMB 88,988,249.62, reflecting a 1,260.87% increase due to significant growth in operating revenue[34]. - Cash flow from operating activities for the first three quarters of 2020 was ¥597,715,021.64, significantly higher than ¥356,098,805.22 in the same period of 2019, marking a 67.8% increase[69]. - The net cash flow from operating activities for the first three quarters of 2020 was CNY 28,341,070.27, compared to a net outflow of CNY 50,121,262.41 in the same period of 2019, indicating a turnaround[75]. Shareholder Information - The total number of shareholders at the end of the reporting period was 5,510[22]. - The largest shareholder, Yuan Jiandong, holds 27.69% of the shares, totaling 113,535,123 shares[22]. Research and Development - R&D investment accounted for 18.39% of operating income, down 8.69 percentage points from the previous year[20]. - Research and development expenses for Q3 2020 amounted to ¥30,735,673.97, slightly up from ¥29,332,084.56 in Q3 2019[55]. - Research and development expenses for Q3 2020 totaled ¥24,852,708.46, an increase of 43.5% from ¥17,281,931.57 in Q3 2019[62]. Tax and Income - The company reported a 203.12% increase in income tax expenses to RMB 22,795,566.58, driven by a rise in pre-tax profit[31]. - The tax expense for Q3 2020 was ¥10,752,704.66, compared to ¥4,387,843.29 in Q3 2019, which is a 144.0% increase[58].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 303,307,125.63, representing a 44.24% increase compared to CNY 210,283,627.24 in the same period last year[20]. - The net profit attributable to shareholders of the listed company reached CNY 73,722,591.90, a significant increase of 78.27% from CNY 41,353,796.97 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 70,056,628.29, up 87.79% from CNY 37,306,252.34 year-on-year[20]. - The net cash flow generated from operating activities was CNY 58,727,404.65, a remarkable increase of 1,735.12% compared to CNY 3,200,195.75 in the same period last year[20]. - The total assets of the company at the end of the reporting period were CNY 1,530,304,273.28, reflecting a 7.67% increase from CNY 1,421,296,902.39 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company were CNY 1,344,812,800.21, which is a 2.42% increase from CNY 1,313,086,018.89 at the end of the previous year[20]. - The company's operating revenue increased by 44.24% compared to the same period last year, with product sales revenue reaching 241.76 million RMB, a growth of 45.64%[21]. - Net profit attributable to shareholders grew by 78.27%, while net profit excluding non-recurring gains and losses increased by 87.79% compared to the previous year[22]. - The basic earnings per share rose to 0.18 RMB, reflecting a 63.64% increase year-on-year[21]. Research and Development - The company has established multiple core drug R&D technology platforms, including fermentation semi-synthesis and multi-chiral drug technology platforms[28]. - The company is focusing on developing innovative drugs targeting major diseases such as cancer, cardiovascular diseases, diabetes, and autoimmune diseases, with an emphasis on new targets and mechanisms[37]. - The company aims to accelerate the development of generic drugs for urgently needed medications and those with expiring patents, improving patient accessibility[38]. - The company is advancing high-end formulations, including liposomes and nano-formulations, to meet international quality standards[39]. - The company is developing a range of antibody drugs for conditions like high cholesterol and cancer, with a focus on increasing patient access to biosimilars[40]. - The company is enhancing its production capabilities for long-acting insulin and other recombinant protein drugs to meet domestic diabetes treatment needs[41]. - The company is prioritizing the development of vaccines for major infectious diseases, including high pathogenic influenza and HIV, to improve emergency response capabilities[42]. - The total R&D investment for the reporting period was approximately ¥63.12 million, accounting for 20.81% of total revenue[52]. - The company has multiple products approved for market and several registration applications accepted by regulatory authorities, including injectable acyclovir and micafungin sodium[51]. - The innovative drug BGC0228 is currently in preclinical research with a total investment of ¥1.02 billion, aiming for IND application submission[55]. - The company has achieved production approval for injectable acyclovir and micafungin sodium, with a total investment of ¥2.35 billion for the latter[55]. - The company has completed preclinical research for the innovative drug BGC0222 and has received IND application acceptance, retaining sales revenue sharing rights post-marketing[50]. - The company has established a comprehensive drug development platform integrating drug research, intellectual property, and regulatory compliance, enhancing its market competitiveness[66]. Market and Sales - The pharmaceutical industry in China is expected to maintain stable growth, driven by an aging population and improved healthcare systems[32]. - The company has received production approvals for several injectable products in China, including Sulfadiazine Sodium Injection and Esomeprazole Sodium Injection[30]. - The company’s ANDA for Entecavir Tablets has been approved in the U.S. and has commenced commercial sales[30]. - The company has successfully exported Entecavir tablets to the US market and signed a cooperation agreement for Aritinib, receiving milestone payments[75]. - The company is actively expanding its market presence both domestically and internationally, collaborating with leading pharmaceutical companies in China[75]. - The company’s foreign sales revenue is significantly impacted by international regulations and exchange rate fluctuations[88]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of $100 million allocated for this purpose[138]. - Market expansion efforts have led to a 25% increase in sales in the Asia-Pacific region[138]. - New product launches contributed to 30% of total sales, indicating strong market reception[138]. Shareholder and Stock Information - The company has committed to a lock-up period of 36 months for shareholders, during which they cannot sell their shares[118]. - If the company's stock price falls below the issuance price for 20 consecutive trading days within 6 months post-IPO, the lock-up period will automatically extend by at least 6 months[118]. - Shareholders are restricted to selling no more than 5% of the total shares outstanding from the previous fiscal year within 2 years after the lock-up period ends[118]. - The company has issued a total of 1,785,636 shares through capital increase, which will increase to 13,624,613 shares after capital reserve conversion[121]. - The company has a commitment that shareholders will not transfer or manage their shares for 36 months from the date of capital increase registration[121]. - The company has a policy that any share reduction must be announced 3 trading days in advance[118]. - The company has a commitment to not sell shares until it achieves profitability within 3 complete fiscal years post-IPO[118]. - The company has a limit on the total number of shares that can be transferred within 24 months after the lock-up period, adhering to legal regulations[124]. - The company has acquired 297,606 shares through capital increase, which will increase to 2,270,769 shares after capital reserve conversion[124]. - The company has established that any share reduction must comply with relevant laws and regulations, including market trading rules[124]. - The company holds 1,272,123 shares, which will increase to 9,706,448 shares after the capital reserve conversion, with a lock-up period of 12 months from the listing date[128]. - The company will not transfer or manage its shares for 36 months from the listing date, and can only reduce holdings by a maximum of 5% of the total share capital at the end of the previous year within two years after the lock-up period[129]. - The company acquired 734,641 shares through capital increase, which will increase to 5,605,397 shares after the capital reserve conversion, with a lock-up period of 36 months from December 10, 2018[130]. - The company will publicly explain any failure to fulfill the reduction intentions and apologize to shareholders and the public[134]. Environmental Compliance - The company’s subsidiaries are listed as key pollutant discharge units by environmental protection authorities, indicating a focus on environmental compliance[169]. - The company has established internal control systems for pollution management and has been actively investing in pollution prevention measures[171]. - The company conducts biannual environmental monitoring through qualified third parties, with increasing investment in environmental protection correlating with rising pollutant discharge[176]. Legal and Regulatory Matters - The company has no record of failing to fulfill court judgments or significant overdue debts during the reporting period[162]. - There are no significant lawsuits or arbitration matters reported during the reporting period[159]. - As of the end of the reporting period, the company has not disclosed any significant related party transactions or major contracts[166]. Audit and Internal Control - The company has appointed the auditing firm Tongye Certified Public Accountants for the 2020 financial and internal control audit[159].

Financial Performance - Operating revenue for the first quarter was CNY 129,858,791.70, representing a 45.16% increase year-on-year[12] - Net profit attributable to shareholders was CNY 34,026,441.65, up 111.07% from the same period last year[12] - Basic earnings per share increased to CNY 0.08, doubling from CNY 0.04 in the same quarter last year[12] - The company's operating revenue increased by 45.16% to CNY 129,858,791.70 compared to the same period last year[22] - The total profit for Q1 2020 was ¥37,793,222.49, compared to ¥17,068,951.87 in Q1 2019, marking a growth of 121.5%[47] - The company's net profit for Q1 2020 was not explicitly stated, but the increase in revenue and costs suggests a focus on growth strategies[43] Cash Flow - The net cash flow from operating activities was -CNY 4,640,677.09, an improvement from -CNY 13,659,971.65 in the previous year[12] - Cash inflow from operating activities for Q1 2020 was CNY 159,317,606.89, an increase of 59% compared to CNY 100,083,804.67 in Q1 2019[59] - Cash outflow from operating activities for Q1 2020 was CNY 163,958,283.98, up from CNY 113,743,776.32 in Q1 2019, resulting in a net cash flow of CNY -4,640,677.09[59] - The company reported a net cash flow from operating activities of CNY -26,529,151.51 for Q1 2020, an improvement from CNY -30,234,956.82 in Q1 2019[63] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 1,442,976,657.05, an increase of 1.53% compared to the end of the previous year[12] - The total liabilities decreased to ¥108,692,175.18 from ¥152,675,786.14, a reduction of approximately 28.8%[42] - The total equity attributable to shareholders rose to ¥1,341,755,344.52 from ¥1,318,287,696.68, an increase of about 1.8%[42] Research and Development - Research and development expenses accounted for 23.17% of operating revenue, a decrease of 5.24 percentage points compared to the previous year[12] - Research and development expenses increased to ¥30,087,777.92, representing a rise of 18.5% from ¥25,412,917.10 in the previous year[47] Investment Activities - The company invested CNY 16,374,730.92 in equity instruments, a 1,036.82% increase, mainly in Bonokangyuan Pharmaceutical Technology[22] - The company’s investment income rose by 195.93% to CNY 1,527,480.19, driven by increased interest income from idle funds[22] - Cash inflow from investment activities in Q1 2020 was CNY 30,949,253.04, a decrease of 66% from CNY 91,564,011.33 in Q1 2019[61] - Cash outflow from investment activities for Q1 2020 was CNY 95,611,627.69, down from CNY 207,564,125.59 in Q1 2019, leading to a net cash flow of CNY -64,662,374.65[61] Shareholder Information - The total number of shareholders at the end of the reporting period was 9,246, with the largest shareholder holding 27.69% of the shares[16] Government Subsidies - The company received government subsidies amounting to CNY 857,203.20 during the reporting period[15] Financial Expenses - The company’s financial expenses decreased significantly by 229.42%, resulting in a financial income of CNY -1,747,139.89 due to exchange rate fluctuations[22] - The company reported a financial expense of -¥1,747,139.89, a significant improvement from a financial income of ¥1,350,012.05 in the previous year[47] Tax Expenses - The company’s tax expenses surged by 297.31% to CNY 3,766,780.84, primarily due to an increase in pre-tax profits[22] Market and Product Development - The company has not disclosed any significant new product developments or market expansion strategies in this report[19] - The company is focusing on expanding its market presence and enhancing product development, although specific new products or technologies were not detailed in the report[43] Inventory and Receivables - Accounts receivable decreased to ¥135,423,109.84 from ¥195,398,932.46, a decline of about 30.7%[36] - Inventory increased to ¥37,232,068.18 from ¥26,870,341.01, representing a growth of 38.5%[36] - The company reported a significant increase in other receivables, which rose by 398.37% to CNY 25,010,732.14, primarily due to loans to Langyu Pharmaceutical Technology[22] New Standards Implementation - The company began implementing the new revenue recognition standards in 2020, but it did not involve adjustments to prior period data[65] - The company has not yet begun to implement the new leasing standards as per regulations effective from 2021[68]

Financial Performance - The company's operating revenue for 2019 was approximately ¥503.16 million, representing a year-on-year increase of 23.47% compared to ¥407.50 million in 2018[26]. - Net profit attributable to shareholders for 2019 was approximately ¥111.08 million, a 51.75% increase from ¥73.20 million in 2018[26]. - The net profit after deducting non-recurring gains and losses was approximately ¥102.16 million, up 42.05% from ¥71.92 million in 2018[26]. - The company's total assets at the end of 2019 reached approximately ¥1.42 billion, a 62.37% increase from ¥875.33 million at the end of 2018[31]. - The net assets attributable to shareholders increased to approximately ¥1.31 billion, reflecting a growth of 70.57% from ¥769.80 million at the end of 2018[31]. - Basic and diluted earnings per share for 2019 were both ¥0.30, marking a 42.86% increase from ¥0.21 in 2018[27]. - The company's R&D expenditure accounted for 24.82% of operating revenue, an increase of 1.23 percentage points from 23.59% in 2018[27]. - The company achieved total revenue of CNY 503.16 million, representing a year-on-year growth of 23.47%[103]. - The net profit attributable to the parent company was CNY 111.08 million, an increase of 51.75% compared to the previous year[103]. - Total assets at the end of the reporting period reached CNY 1.42 billion, a growth of 62.37% from the beginning of the period[103]. - Shareholders' equity attributable to the parent company increased to CNY 1.31 billion, reflecting a growth of 70.57%[103]. R&D and Innovation - The total R&D investment for the reporting period was approximately ¥124.88 million, accounting for 24.82% of the total revenue[65]. - The company has established several core drug R&D technology platforms, enhancing its competitive edge in the pharmaceutical market[38]. - The company is focusing on the development of new drugs targeting major diseases, including cancer and cardiovascular diseases, in line with international pharmaceutical technology trends[48]. - The company is committed to developing high-end formulations and innovative drug delivery systems to meet international quality standards[48]. - The company is actively pursuing the development of vaccines for major infectious diseases, enhancing its emergency research and industrialization capabilities[51]. - The company has developed multiple high-value products using the fermentation semi-synthesis technology platform, including Caspofungin and Anidulafungin, which have received market approval in Europe[56]. - The company has established a multi-chiral drug platform, successfully developing complex drugs such as Posaconazole and Edoxaban, which involve lengthy synthesis processes[57]. - The company is focusing on RNA interference drugs, gene therapy, and cell therapy products, including CAR-T therapies, as part of its strategic development[52]. - The company has reported a significant increase in R&D spending across various products, with some projects showing over 800% growth in investment compared to the previous year[160]. - The company has several ongoing R&D projects, including the injection of Micafungin sodium, which is currently in the review phase, indicating a robust pipeline[165]. Market and Sales Strategy - The company primarily develops overseas clients through self-expansion and agent channels, utilizing industry exhibitions, online promotion, and direct visits for customer engagement[41]. - The company has established a professional sales management system to support market expansion, focusing on five major regional markets: China, the US, Europe, Japan, and countries along the Belt and Road[87]. - The company is enhancing its international market presence by establishing a quality control system aligned with international standards[51]. - The company aims to enhance its international presence by targeting major overseas markets, including Europe, the US, Japan, and the Belt and Road Initiative regions[195]. - The company plans to accelerate the launch of its Entecavir tablets in the US and expand its raw material sales in Europe[195]. - The company is actively participating in international cooperation to introduce leading foreign innovative drugs into the Chinese market[193]. Regulatory and Compliance - The company received a standard unqualified audit report from Tianye Certified Public Accountants[6]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[8]. - The company does not have any violations of decision-making procedures for external guarantees[8]. - The company emphasizes that forward-looking statements in the report do not constitute a substantive commitment to investors[7]. - The approval process for drugs in China has accelerated, benefiting companies with core technological advantages, while the industry is undergoing rapid differentiation and structural upgrades[52]. - The revised Drug Administration Law encourages innovation and prioritizes the review of urgently needed drugs, enhancing the regulatory environment for pharmaceutical development[144]. Production and Quality Control - The company adopts a production model based on sales demand, ensuring compliance with cGMP and national GMP standards to guarantee drug quality and safety[41]. - The company’s production quality system complies with GMP standards in China, the EU, the US, Japan, and South Korea, ensuring high-quality production capabilities[82]. - The company adheres to strict quality control throughout the drug R&D, production, and sales processes to ensure patient safety[145]. Risk Factors - The company has outlined various operational risks in the report, which are detailed in the section on "Risk Factors"[5]. - The company faces risks related to the development of generic and innovative drugs, including regulatory changes and market competition[97][101]. Dividend Policy - The company plans to distribute a cash dividend of RMB 0.82 per share, totaling approximately RMB 33,620,000.00 for the year 2019[6]. - The company has established a cash dividend policy, prioritizing cash dividends over stock dividends when conditions permit[200].