Financial Performance - The company's revenue for Q3 2022 was ¥271,971,006.83, representing a year-over-year increase of 0.99%[5] - Net profit attributable to shareholders for Q3 2022 was ¥85,622,530.05, an increase of 22.31% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥86,260,922.43, up 24.09% year-over-year[5] - The basic earnings per share for Q3 2022 was ¥0.21, reflecting a 23.53% increase year-over-year[5] - For the first nine months of 2022, the company achieved operating revenue of RMB 772.32 million, a year-on-year increase of 3.19%[15] - The net profit attributable to shareholders for the same period was RMB 197.62 million, reflecting a year-on-year growth of 11.73%[15] - In Q3 2022, the company's operating revenue grew by 0.99% year-on-year, while the net profit attributable to shareholders increased by 22.31%[15] - Total operating revenue for the first three quarters of 2022 reached ¥772,321,355.75, an increase from ¥748,440,872.31 in the same period of 2021, representing a growth of approximately 3.7%[30] - Net profit for the third quarter of 2022 was ¥177,878,679.31, slightly up from ¥170,780,575.00 in the previous year, reflecting a growth of approximately 4.1%[34] Assets and Liabilities - Total assets at the end of Q3 2022 reached ¥4,086,290,770.81, a 37.60% increase from the end of the previous year[7] - The company's total liabilities amounted to ¥2,073,869,767.97, a significant increase from ¥1,227,980,082.88 in the previous period, marking a rise of about 69%[28] - The total equity attributable to shareholders reached ¥2,012,421,002.84, up from ¥1,741,634,980.86, which is an increase of approximately 15.5%[29] - The total liabilities and equity amounted to ¥4,086,290,770.81, up from ¥2,969,615,063.74, reflecting an increase of about 37.8%[29] Research and Development - R&D investment totaled ¥45,204,654.13 in Q3 2022, accounting for 16.62% of revenue, an increase of 1.60 percentage points from the previous year[7] - The company submitted 8 domestic patent applications and 2 foreign patent applications in Q3 2022, with a total of 356 patent applications filed to date[18] - Research and development expenses for the first three quarters of 2022 were ¥139,053,362.88, compared to ¥119,784,659.32 in 2021, showing an increase of about 16.0%[30] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was ¥205,840,314.51, a significant increase of 149.28%[9] - Operating cash inflow for the first three quarters of 2022 reached RMB 922,221,335.76, an increase of 35.5% compared to RMB 680,266,726.68 in the same period of 2021[40] - Net cash flow from operating activities was RMB 205,840,314.51, up from RMB 82,574,695.65 in the previous year, representing a significant increase of 149.5%[40] - Cash inflow from investment activities totaled RMB 549,372,292.79, compared to RMB 312,232,702.80 in the previous year, marking a rise of 75.9%[41] - Net cash flow from investment activities was -RMB 793,963,854.22, worsening from -RMB 659,665,113.77 year-on-year[41] - Cash inflow from financing activities amounted to RMB 1,379,052,375.62, significantly higher than RMB 718,183,266.13 in the same period last year, an increase of 92%[41] - Net cash flow from financing activities was RMB 883,781,300.36, compared to RMB 553,064,914.12 in the previous year, reflecting a growth of 59.8%[41] - The company reported a net increase in cash and cash equivalents of RMB 300,184,511.17, contrasting with a decrease of RMB 22,123,636.36 in the same period of 2021[41] - The ending balance of cash and cash equivalents stood at RMB 633,399,193.09, up from RMB 317,409,878.26 year-on-year, indicating a growth of 99.5%[41] Government Subsidies and Tax Refunds - The company reported a total of ¥5,233,779.87 in government subsidies recognized in Q3 2022[8] - The company received RMB 75,465,505.99 in tax refunds, which is a 132.5% increase from RMB 32,462,495.74 in the previous year[40] Production and Capacity Expansion - The company has completed construction and verification of its first-phase raw material and formulation production base in Taixing[19] - The company has received drug clinical trial approval for BGC1201 tablets and marketing application approval for a raw material drug[16] - The company is in the process of expanding its production capacity with multiple projects, including the Suzhou high-end formulation drug production project[19]

Financial Performance - The company reported a total revenue of 500 million CNY for the first half of 2022, representing a 20% increase compared to the same period last year[19]. - The company's operating revenue for the first half of the year reached ¥500,350,348.92, representing a 4.43% increase compared to the same period last year[26]. - Net profit attributable to shareholders was ¥112,001,271.81, up 4.80% year-over-year[26]. - The gross profit margin improved to 60%, up from 55% in the previous year, reflecting better cost management and pricing strategies[19]. - Product sales revenue reached 451.13 million yuan, up 7.25% year-on-year, with a gross margin of 59.48%, an increase of 6.91 percentage points compared to the previous year[99]. - The net profit excluding non-recurring gains and losses decreased by 8.31% to 94.94 million yuan[99]. - The revenue from raw material drugs was 393.27 million yuan, a decrease of 0.87%, with a gross margin of 57.22%, up 4.90 percentage points year-on-year[100]. - The overseas revenue from equity sharing decreased by 38.63% to 22.18 million yuan due to the maturity of corresponding products and sales progress limitations[101]. Research and Development - Research and development expenses increased by 30% to 150 million CNY, focusing on innovative drug development and technology enhancements[19]. - The company's R&D expenditure accounted for 18.76% of operating revenue, an increase of 2.2 percentage points compared to the previous year[26]. - Research and development (R&D) expenses amounted to ¥93,848,708.75, representing an 18.29% increase compared to ¥79,336,152.47 in the same period last year[67]. - The company is focusing on developing ADC drug technology services and has made significant progress in clinical trials for innovative drugs like BGC0228 and BGC1201[103]. - The company has submitted several products for regulatory approval during the reporting period, marking significant milestones in its R&D efforts[65]. - The company has developed a comprehensive product line covering antiviral, antifungal, immunosuppressive, respiratory, and oncology treatments, with key products including Entecavir and Oseltamivir[32]. - The company is developing peptide-drug conjugates that offer advantages such as enhanced tumor penetration and lower production costs compared to larger antibody-drug conjugates[60]. - The company is currently in Phase I clinical trials for the injectable BGC0228 project, with a total investment of ¥5,000,000 and cumulative investment of ¥3,162,710[70]. Market Expansion and Strategy - The company expects a revenue growth forecast of 25% for the second half of 2022, driven by new product launches and market expansion strategies[19]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[19]. - The company aims to break reliance on a single market by expanding globally, with strategies including building cGMP-compliant production systems and attracting international talent[44][46]. - The company is pursuing global market expansion and has invested in innovative technology companies to enhance its future drug pipeline[37]. - The company is actively participating in national bulk purchasing programs to enhance hospital coverage for its products, with its injectable Micafungin sodium expected to be selected in the seventh batch of national drug procurement[33]. Financial Position and Assets - Total assets grew by 32.73% to ¥3,941,462,212.63, mainly due to the arrival of funds from convertible bonds[26]. - The company's cash and cash equivalents at the end of the period amounted to ¥590,028,379.62, representing 14.97% of total assets, an increase of 75.17% compared to the previous year[138]. - Accounts receivable reached ¥435,041,340.96, accounting for 11.04% of total assets, with a year-on-year increase of 16.52%[138]. - Inventory stood at ¥236,982,858.33, making up 6.01% of total assets, reflecting an 18.46% increase from the previous year[138]. - Long-term equity investments decreased by 21.81% to ¥40,886,473.82, representing 1.04% of total assets[138]. Risks and Challenges - The company has identified potential risks related to regulatory changes and market competition, which are detailed in the risk factors section[19]. - The company faces risks related to the volatility of performance due to reliance on customer R&D progress, which can lead to fluctuations in revenue[121]. - The company faces risks related to tax policy changes, currency fluctuations, and industry competition that could impact future performance[126][129]. - The company has established a strict quality management system to ensure compliance with national standards, but faces risks related to production quality control and potential safety incidents[123]. Environmental and Compliance - The company has implemented various pollution control facilities, including activated carbon adsorption for waste gas treatment[169]. - The environmental impact assessments for the production bases of raw materials and formulations in Taixing have been approved, with specific approval numbers provided[170]. - Borui Taixing holds pollution discharge permits valid until 2027, ensuring compliance with environmental regulations[173]. - The company has been conducting environmental monitoring every six months through a qualified third party, with total environmental investment increasing year by year in line with the rising trend of pollutant emissions[175]. - All subsidiaries have actively complied with national and local environmental regulations, with no violations or penalties reported by the end of the reporting period[177]. Corporate Governance and Shareholder Matters - The company has committed to various shareholder and management promises, including a 36-month lock-up period for certain shares starting from November 8, 2019[182]. - The company has not disclosed any other environmental information due to non-applicability during the reporting period[178]. - The company has not reported any changes or updates regarding previously disclosed environmental information during the reporting period[178]. - There are no significant lawsuits or arbitration matters reported during the reporting period[199]. - The company has not engaged in any non-operating fund occupation by major shareholders or related parties[197].

Financial Performance - The company's revenue for Q1 2022 was CNY 248,373,219.05, representing a year-on-year increase of 31.53%[5] - Net profit attributable to shareholders was CNY 60,754,391.10, reflecting a growth of 25.00% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was CNY 60,315,257.52, up 26.83% year-on-year[5] - The total operating revenue for Q1 2022 was ¥248,373,219.05, an increase from ¥188,839,905.34 in Q1 2021, representing a growth of approximately 31.6%[36] - The total profit for the current period is 65,299,553.52 RMB, an increase from 54,520,921.14 RMB in the previous period, representing a growth of approximately 19.5%[39] - The net profit attributable to shareholders of the parent company is 60,754,391.10 RMB, compared to 48,604,937.62 RMB in the previous period, reflecting an increase of about 25%[39] - Basic and diluted earnings per share for the current period are both 0.15 RMB, up from 0.12 RMB in the previous period, indicating a growth of 25%[41] Cash Flow - The net cash flow from operating activities was negative at CNY -29,648,247.48, a significant decline of 957.37% year-on-year[5] - The company's cash flow from operating activities was impacted by increased R&D and sales promotion expenses, leading to slower cash inflow growth[8] - Cash inflows from operating activities totaled 223,452,577.04 RMB, compared to 217,713,663.33 RMB in the previous period, showing an increase of approximately 2.5%[43] - Cash outflows from operating activities amounted to 253,100,824.52 RMB, compared to 214,255,625.31 RMB in the previous period, representing an increase of about 18.1%[43] - The net cash flow from operating activities is -29,648,247.48 RMB, a decline from 3,458,038.02 RMB in the previous period[47] - Cash inflows from investing activities were 70,266,275.88 RMB, down from 181,262,465.76 RMB in the previous period, indicating a decrease of approximately 61.2%[47] - Cash outflows from investing activities totaled 713,590,475.27 RMB, compared to 407,196,914.90 RMB in the previous period, reflecting an increase of about 75.1%[47] - The net cash flow from financing activities is 664,453,061.70 RMB, compared to 255,955,908.71 RMB in the previous period, showing an increase of approximately 159.7%[47] - The ending balance of cash and cash equivalents is 324,463,902.63 RMB, down from 377,669,961.10 RMB in the previous period[47] Research and Development - Total R&D expenses amounted to CNY 42,737,799.16, which is an increase of 93.19% year-on-year, accounting for 17.21% of total revenue[5][12] - R&D expenses amounted to RMB 42.74 million, a 93.19% increase year-on-year, representing 17.21% of operating revenue[22] - The company submitted 6 domestic patent applications and 2 foreign patent applications during Q1 2022, with a total of 334 patent applications filed to date[22] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,630,151,545.43, up 22.24% from the previous year[7] - The total assets as of the end of the reporting period were ¥3,630,151,545.43, compared to ¥2,969,615,063.74 at the same time last year, showing a growth of approximately 22.3%[33] - The total liabilities increased to ¥1,749,943,725.24 in Q1 2022 from ¥1,227,980,082.88 in Q1 2021, representing a rise of about 42.5%[33] - The equity attributable to shareholders of the parent company reached ¥1,816,715,512.63, up from ¥1,678,188,732.58 in the previous year, reflecting an increase of approximately 8.3%[33] - Long-term borrowings rose to ¥861,565,706.53 in Q1 2022 from ¥618,693,003.90 in Q1 2021, indicating an increase of about 39.2%[33] Sales Performance - The company's product sales revenue increased by 33.70% year-on-year, while technology revenue surged by 645.14%[8] - Product sales revenue reached RMB 223.47 million, a 33.70% increase compared to the same period last year; technology revenue surged to RMB 17.81 million, a remarkable growth of 645.14%[21] - The revenue from raw material drugs was RMB 207.81 million, with significant growth in specific products: Anifin raw material drug revenue increased by 127.39% and Micafungin raw material drug revenue rose by 83.33%[21] Construction Projects - The construction progress of the Taixing raw material drug and formulation production base is nearing completion, with major structural work finished[23] - The company’s Indonesian project has achieved a construction completion rate of 99.5%, with internal decoration at 98% completion[25] Shareholder Information - The total number of common shareholders at the end of the reporting period was 11,373[13] - The weighted average return on net assets was 3.45%, an increase of 0.11 percentage points compared to the previous year[5]

Financial Performance - The company's operating revenue for 2021 was CNY 1,052,408,590.87, representing a 34.00% increase compared to 2020[24]. - The net profit attributable to shareholders for 2021 was CNY 243,951,048.34, reflecting a 43.60% growth year-over-year[24]. - The net cash flow from operating activities for 2021 was CNY 176,075,346.56, an increase of 13.28% from the previous year[24]. - The basic earnings per share for 2021 was CNY 0.60, up 46.34% from CNY 0.41 in 2020[24]. - The company's gross profit margin was 56.23% during the reporting period[152]. - The company achieved a total revenue of 69,980 million RMB, with a net profit of 33,662.05 million RMB, indicating a strong financial performance[125]. R&D and Innovation - The company invested CNY 173.29 million in R&D, a 23.04% increase year-on-year, representing 16.47% of operating revenue[41]. - The company has submitted 15 new domestic patent applications and received 29 new domestic patent authorizations, totaling 326 patent applications, with 324 being invention patents[46]. - The company has developed multiple advanced drug technology platforms, including fermentation semi-synthesis, multi-chiral drugs, non-biological macromolecules, inhalation formulations, and conjugated drugs, covering various therapeutic areas[87][88][89][92][93][97]. - The innovative drug BGC0228 has received IND approval and is currently in Phase 1 clinical trials[41]. - The company reported a total R&D investment of approximately ¥173.29 million, representing a 23.04% increase from the previous year[108]. Market and Sales - The company’s main business revenue from product sales was CNY 927,795,300, which is a 38.38% increase year-on-year[165]. - The company’s foreign sales accounted for a significant portion of revenue, with foreign sales revenue reaching CNY 488,723,891.19, a 70.01% increase[169]. - The company is actively pursuing market expansion strategies, including partnerships for technology support and profit-sharing models with international pharmaceutical companies[133]. - The company has established a strong position in the pharmaceutical supply chain, allowing it to enjoy profit-sharing from clients' sales of formulation products[73]. Corporate Governance and Compliance - The board of directors has confirmed the authenticity, accuracy, and completeness of the annual report, assuming legal responsibility for any misstatements or omissions[4]. - The company has received a standard unqualified audit report from the accounting firm Tianye[6]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[9]. - The company has not disclosed any special arrangements for corporate governance[9]. Risks and Challenges - The company has detailed various risks faced during its operations in the report, emphasizing the importance of risk awareness for investors[5]. - The company faces potential risks from policy changes in the pharmaceutical industry, particularly regarding volume-based procurement and consistency evaluations[158]. - The company is exposed to risks from potential changes in tax policies that could increase income tax expenses[147]. - The company must maintain a stable and skilled technical talent team to sustain its competitive edge in the industry[140]. Production and Capacity - The company’s production capacity utilization rate remained high in 2021, with ongoing optimization of processes to reduce production costs[47]. - The company’s Taixing raw material and formulation production base has a planned capacity of 3,450 kg, with construction progressing to equipment validation stage[49]. - The company has invested a total of RMB 46.5 million in the Suzhou inhalation and other chemical drug formulation base project, with an annual design capacity of 64 million units[51]. Strategic Investments - The company has made equity investments in several innovative biotech firms, including RMB 20 million in Beijing InnoRuiKang and RMB 20 million in Suzhou Laitacon[55]. - The company invested $3.3 million in the Boryeong Indonesia project, which has a planned raw material capacity of approximately 3,677 kg, with 99% of civil engineering completed[54]. Product Development - The company has obtained production approval for Olanzapine injection and has passed the consistency evaluation for Micafungin sodium injection in China[45]. - The company’s innovative drug BGC0228 has received IND approval and is currently in Phase 1 clinical trials, while other drugs are in preclinical research stages[60]. - The company aims to complete clinical research for the new drug application of the Colchicine patch in the short term[119].

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].