Financial Performance - The company's operating revenue for 2020 was approximately ¥793.93 million, representing an 8.81% increase from ¥729.67 million in 2019[16]. - The net profit attributable to shareholders for 2020 was approximately ¥116.57 million, an increase of 81.31% compared to ¥64.29 million in 2019[16]. - The net profit after deducting non-recurring gains and losses was approximately ¥110.74 million, which is a 28.11% increase from ¥86.44 million in 2019[16]. - The company's total assets at the end of 2020 were approximately ¥1.19 billion, a 51.01% increase from ¥789.83 million at the end of 2019[16]. - The net assets attributable to shareholders at the end of 2020 were approximately ¥1.00 billion, reflecting a 77.52% increase from ¥563.55 million at the end of 2019[16]. - The basic earnings per share for 2020 was ¥0.29, a 61.11% increase from ¥0.18 in 2019[17]. - The company's net cash flow from operating activities in Q4 2020 was ¥32,636,211.91, indicating strong cash generation capabilities[19]. - The company reported non-recurring gains of ¥26,633,900.81 in 2020, significantly higher than ¥15,470,490.54 in 2019[20]. - The company achieved operating revenue of RMB 793,934,304.42, representing a year-on-year growth of 8.81%[67]. - Net profit attributable to shareholders reached RMB 116,569,600, marking a significant increase of 81.31% year-on-year[66]. - The net assets attributable to shareholders grew to RMB 1,000,399,500, reflecting a year-on-year increase of 77.52%[66]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 16.56% in 2020, up from 8.87% in 2019, indicating a significant focus on innovation[17]. - The total R&D investment for the year reached ¥131,496,033.12, a significant increase of 103.09% compared to ¥64,748,523.67 in the previous year, with R&D expenses accounting for 16.56% of operating income, up by 7.69 percentage points[39]. - The company is focusing on the prevention and treatment of chronic hepatitis B and its complications, such as liver cancer and cirrhosis, as key research directions for the future[33]. - The company is conducting Phase III clinical trials for its long-acting interferon targeting hepatitis B surface antigen clearance, which is a key efficacy indicator for chronic hepatitis B clinical cure research[36]. - The company has developed five long-acting PEGylated protein drugs approved for clinical research, including Peginterferon α-2b, which was launched in 2016 and is the first long-acting interferon product with independent intellectual property rights in China[33]. - The company has established a unique and mature core capability for long-acting drug modification, suitable for industrial-scale production with excellent cost control characteristics[34]. - The company has invested a total of ¥579 million in R&D projects, with ¥131.5 million invested in the current period and a cumulative investment of ¥276.9 million[43]. - The company is actively involved in clinical research for chronic hepatitis B treatment, aiming to enhance clinical cure rates and reduce liver cancer risks for patients[32]. - The company has several ongoing projects, including YPEG-GH and YPEG-GCSF, both in advanced clinical research stages, indicating a robust pipeline[100]. Market Position and Strategy - The company aims to expand its product sales, particularly in chronic hepatitis B treatment, leveraging accumulated clinical evidence[17]. - The company is recognized as a leading enterprise in the field of polyethylene glycol protein long-acting drugs in China, with a focus on major disease treatment and a robust innovation platform[31]. - The company has launched four products, including Peginterferon α-2b injection, which is a first-line treatment for chronic hepatitis B[23]. - The company is positioned to leverage its first-mover advantage in the chronic hepatitis B treatment market with Pegbinterferon[117]. - The company is focusing on innovation and R&D to enhance its market position amid increasing competition and regulatory scrutiny in the pharmaceutical industry[90]. - The company has a specialized marketing team and has expanded its academic promotion network across the country to enhance its market presence in oncology and viral hepatitis[52]. - The company is actively exploring treatment strategies for special populations, including children with chronic hepatitis B, to improve overall clinical cure rates[53]. - The company has established a strategic partnership with Suzhou Aikebaifa Biopharmaceutical Technology Co., Ltd. for the AK0706 project, which is currently in the preclinical research stage[44]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[3]. - The board of directors and senior management confirm the authenticity, accuracy, and completeness of the annual report[2]. - The company has not proposed any capital reserve transfer to increase share capital or bonus shares for the 2020 profit distribution plan[4]. - The company has not disclosed any special arrangements for corporate governance[4]. - The company has established a clear plan to maintain shareholder confidence and regulatory compliance[142]. - The company has a proactive approach to managing shareholder relations and regulatory compliance[144]. - The company has a strict adherence to legal obligations, with no violations reported in the last six months[144]. - The company has committed to maintaining a cash dividend distribution of at least 40% if it is in a mature stage with significant capital expenditure plans[124]. Risks and Challenges - The company faces risks related to the inability to convert R&D results into marketable products, which could significantly affect the return on prior investments[59]. - The company is exposed to risks from potential failures in drug bidding processes, which could lead to declines in sales revenue and net profit[60]. - The company acknowledges the competitive landscape for talent in the biopharmaceutical industry, which could impact its long-term development if not managed effectively[63]. - The company is subject to macroeconomic risks, particularly from government policies that may enforce drug price reductions, directly affecting economic performance[64]. - The company is aware of the challenges posed by its expanding operational scale, necessitating adjustments in internal controls and management systems to support rapid growth[65]. Shareholder Commitments and Regulations - The company has committed to not transferring or entrusting the management of shares held prior to the IPO for 36 months from the date of listing[130]. - The company has established a commitment to not reduce shares during specific legal and regulatory investigations or penalties[136]. - The company has a strict adherence to the lock-up period, with commitments from major shareholders to not sell shares for two years after the lock-up period ends[149]. - The company will ensure compliance with all relevant laws and regulations regarding share reduction and commitments[136]. - The company has outlined specific penalties for non-compliance with share sale commitments, ensuring accountability[150]. Financial Management - The company has a total of ¥190,000,000 in fixed deposits from raised funds, with no overdue amounts[177]. - The company has invested ¥446,000,000 in structured deposits from raised funds, with an annualized return rate of 3.10%[178]. - The total amount of entrusted financial management reached ¥1,200,000,000, with a balance of ¥105,000,000 remaining[177]. - The company has achieved a return of ¥720,273.96 from a bank financial product with an annualized return rate of 2.26%[179]. - The company has a total of ¥50,000,000 in seven-day notice deposits with an annualized return rate of 1.89%[179]. Environmental and Social Responsibility - The company has successfully maintained compliance with environmental regulations, ensuring that all pollutants are within the required standards[195]. - The company has undergone ISO 14001:2015 environmental management system certification, valid from May 14, 2020, to May 13, 2023[196]. - During the pandemic, the company donated nearly 400,000 yuan worth of medical protective supplies to support frontline efforts[194].

Financial Performance - Net profit attributable to shareholders increased by 81.21% to CNY 76,262,628.71 year-on-year[5] - Operating income rose by 6.14% to CNY 560,521,811.85 for the first nine months of the year[5] - Basic earnings per share increased by 58.33% to CNY 0.19[5] - The weighted average return on equity increased by 0.47 percentage points to 8.56%[5] - The company reported a significant increase in retained earnings, reaching CNY 153,074,712.92, up from CNY 95,110,401.53 year-over-year[21] - Net profit for Q3 2020 reached CNY 29,650,824.55, an increase of 8.0% from CNY 26,537,411.47 in Q3 2019[24] - Net profit for Q3 2020 increased to CNY 26,993,177.91, up 13.5% from CNY 23,875,643.71 in Q3 2019[27] Assets and Liabilities - Total assets increased by 43.04% to CNY 1,129,746,093.83 compared to the end of the previous year[5] - Total liabilities decreased to CNY 189,386,553.33 from CNY 258,193,494.13 year-over-year, indicating a reduction of approximately 26.7%[21] - Total current assets increased to ¥737,394,694.41 from ¥445,199,859.52, representing a growth of approximately 65.6% year-over-year[17] - Total liabilities decreased to ¥169,653,594.75 from ¥226,271,510.62, a reduction of about 25%[19] - The company's equity attributable to shareholders increased to ¥960,092,499.08 from ¥563,553,550.37, reflecting a growth of approximately 70.4%[19] Cash Flow - Net cash flow from operating activities decreased by 9.13% to CNY 59,972,038.67 year-to-date[5] - Cash flow from operating activities for the first nine months of 2020 was CNY 559,981,356.35, an increase from CNY 542,510,600.01 in the same period of 2019[29] - The company reported a net cash flow from operating activities of CNY 57,081,142.10 for the first nine months of 2020, down from CNY 62,215,742.49 in the same period last year, indicating a decrease of about 8.5%[32] - Total cash and cash equivalents at the end of Q3 2020 reached CNY 287,621,977.44, up from CNY 164,716,295.08 at the end of Q3 2019, representing a growth of approximately 74.5%[31] Research and Development - R&D expenditure accounted for 14.83% of operating income, an increase of 6.43 percentage points compared to the previous year[5] - Development expenditures surged by 171.18% to RMB 60,643,601.62, reflecting ongoing investments in clinical research[11] - Research and development expenses for Q3 2020 were CNY 11,200,776.60, slightly down from CNY 11,585,727.78 in Q3 2019[23] - R&D expenses for Q3 2020 were CNY 9,984,530.11, slightly down from CNY 10,375,318.42 in Q3 2019[27] Government Support and Subsidies - Government subsidies recognized in the current period amounted to CNY 1,754,170.43[6] - Other income increased by 198.04% to RMB 18,245,218.33, driven by IPO subsidies and other government grants[12] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,222[8] - The company completed the renewal of its Drug Production License, valid until September 22, 2025[14] Investment and Financing Activities - Net cash outflow from investing activities was CNY -259,013,012.64, compared to CNY -29,704,224.79 in the same period last year, indicating a significant increase in investment expenditures[30] - Net cash flow from financing activities was CNY 281,113,759.74, a turnaround from a net outflow of CNY -16,906,662.48 in Q3 2019, showing improved financing conditions[31]

Financial Performance - The company reported a total revenue of RMB 100 million for the first half of 2020, representing a year-on-year increase of 20%[13]. - The net profit attributable to shareholders for the same period was RMB 30 million, up 15% compared to the previous year[13]. - The company's operating revenue for the first half of 2020 was approximately ¥359.56 million, representing a year-on-year increase of 12.83%[20]. - The net profit attributable to shareholders for the same period was approximately ¥46.61 million, a significant increase of 199.81% compared to the previous year[20]. - The company achieved a revenue of RMB 359.56 million in the first half of 2020, representing a year-on-year growth of 12.83%[55]. - The net profit attributable to shareholders reached RMB 46.61 million, showing a significant increase of 199.81% year-on-year[55]. - The company reported a significant increase in revenue for the first half of 2020, with a year-over-year growth of 15%[96]. - The company reported a total profit of RMB 48,666,229.39 for the first half of 2020, compared to RMB 15,125,572.10 in the same period of 2019, marking an increase of 221.5%[175]. User Growth and Market Expansion - User data indicated a growth in active users by 25%, reaching a total of 500,000 users by the end of June 2020[13]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2021[13]. - User data showed an increase in active users to 10 million, up from 8 million in the previous period, marking a growth of 25%[88]. - Market expansion plans include entering three new international markets by Q3 2020, which is expected to increase market share by 15%[89]. - The company is considering strategic acquisitions to bolster its product offerings, with a budget of 100 million allocated for potential deals[87]. Research and Development - New product development includes the launch of a PEGylated interferon product, expected to enter clinical trials in Q4 2020[13]. - Research and development expenses increased by 10%, totaling RMB 15 million, reflecting the company's commitment to innovation[13]. - The company has developed a complete innovative drug R&D system, focusing on upstream and downstream technology development, quality research, and clinical studies[30]. - The core technology includes a PEGylation platform that enhances the stability and efficacy of protein drugs, with a patented Y-shaped PEG structure that improves drug characteristics[34][35]. - The company has achieved international patent authorization for its core technologies in Europe, the United States, and Japan, indicating its advanced technological position[36]. - The company is advancing 6 key R&D projects, including YPEG-GH and YPEG-G-CSF, which are in phase III clinical trials[57]. - R&D investment increased by 59.69% year-on-year, totaling approximately ¥45.42 million, which represents 12.63% of the company's revenue[38]. Financial Guidance and Future Outlook - The company has set a performance guidance for the second half of 2020, aiming for a revenue growth of 25%[13]. - The company provided guidance for the next quarter, expecting revenue to reach between 1.6 billion and 1.7 billion, indicating a potential growth of 7% to 13%[89]. - The company plans to strengthen its market position by continuously monitoring industry competition and advancing new technology development[63]. Risk Management and Compliance - The board has highlighted potential risks related to regulatory changes in the biopharmaceutical industry[4]. - The company is focusing on risk management and team building to improve overall management levels and enhance risk prevention capabilities[60]. - The company is facing potential risks related to industry policies, R&D challenges, and market competition that could impact future performance[61]. Shareholder Commitments and Governance - The company committed to not transferring or entrusting the management of shares held prior to the IPO for 36 months from the date of listing[84]. - The company will not reduce shares if it is under investigation for securities violations or has been publicly reprimanded by the stock exchange[86]. - The company will ensure that any share reduction after the lock-up period does not affect its operational stability and will disclose control arrangements[83]. - The company will bear legal responsibilities for any failure to fulfill its commitments regarding share transfers[83]. Environmental and Compliance Standards - Environmental protection facilities operated normally during the reporting period, with all pollutants meeting discharge standards[127]. - The company achieved compliance with environmental monitoring requirements, with third-party testing confirming adherence to national standards[128]. - The company received ISO 14001:2015 environmental management system re-certification in May 2020[128]. Financial Management and Cash Flow - The net cash flow from operating activities was approximately ¥29.10 million, showing a decrease of 6.33% year-on-year[20]. - Cash and cash equivalents at the end of the period reached ¥361,918,070.55, accounting for 31.98% of total assets, a 130.27% increase compared to the same period last year[69]. - The company has engaged in cash management strategies to enhance fund utilization efficiency while ensuring operational needs and fund safety[135].

Financial Performance - Net profit attributable to shareholders increased by 4,024.37% to CNY 22,359,658.11 compared to the same period last year[4]. - Operating income rose by 28.02% to CNY 187,502,306.06 compared to the same period last year[4]. - Basic earnings per share increased by 2,900% to CNY 0.06 compared to the same period last year[4]. - Net profit increased by 31.06% to ¥94,354,124.08, reflecting continuous growth in retained earnings[12]. - The company reported a significant increase in other income, which rose by 488.65% to ¥11,707,227.90, mainly due to increased government subsidies[12]. - Total operating revenue for Q1 2020 was ¥187,502,306.06, an increase of 27.9% compared to ¥146,459,314.47 in Q1 2019[24]. - Net profit for Q1 2020 reached ¥22,359,658.11, compared to ¥542,134.56 in Q1 2019, indicating a significant increase[25]. - The total comprehensive income for Q1 2020 was ¥22,359,658.11, compared to ¥542,134.56 in Q1 2019, indicating strong performance[26]. - The net profit for Q1 2020 was ¥19,325,820.31, a significant increase compared to a net loss of ¥920,805.65 in Q1 2019, representing a turnaround in profitability[28]. Assets and Liabilities - Total assets increased by 43.63% to CNY 1,134,452,277.91 compared to the end of the previous year[4]. - The company's cash and cash equivalents increased by 92.10% to ¥395,510,817.60, primarily due to the proceeds from the initial public offering[11]. - Total current liabilities decreased to CNY 142,111,698.84 from CNY 150,724,824.88, reflecting a reduction of about 5.4%[20]. - The total liabilities decreased to CNY 218,092,749.43 from CNY 226,271,510.62, indicating a reduction of approximately 3.6%[21]. - The company's equity attributable to shareholders increased to CNY 916,359,528.48, up from CNY 563,553,550.37, which is an increase of approximately 62.7%[21]. - The total cash and cash equivalents at the end of Q1 2020 reached ¥395,510,817.60, compared to ¥157,886,560.69 at the end of Q1 2019, showing a significant increase of approximately 150%[30]. - The total liabilities as of Q1 2020 were ¥254,755,785.01, a slight decrease from ¥258,193,494.13 in the previous year[23]. Cash Flow - The net cash flow from operating activities decreased by 27.73% to CNY 13,032,237.07 compared to the same period last year[4]. - The company reported a net cash inflow from financing activities of ¥335,961,607.50, primarily from the initial public offering[13]. - The net cash inflow from financing activities was CNY 335,961,607.50, compared to a net outflow of CNY 875,437.49 in the previous period[32]. - Cash inflow from operating activities totaled ¥210,955,637.24 in Q1 2020, compared to ¥172,702,303.03 in Q1 2019, marking an increase of approximately 22.1%[29]. - The net cash flow from financing activities in Q1 2020 was ¥335,961,607.50, a notable improvement compared to a negative cash flow of ¥875,437.49 in Q1 2019[30]. Research and Development - The proportion of R&D investment to operating income increased by 0.93 percentage points to 10.67%[4]. - Research and development expenses for Q1 2020 were ¥15,376,305.90, up from ¥14,171,427.94 in Q1 2019, reflecting a 8.5% increase[24]. Shareholder Information - The company had a total of 10,833 shareholders at the end of the reporting period[7]. - The top shareholder, Yang Ying, holds 33.94% of the shares, totaling 138,077,266 shares[7]. Investment Activities - The company has utilized a maximum of ¥220 million of idle raised funds for cash management, with a one-year authorization period[15]. - The company has invested ¥130 million in structured deposits and ¥50 million in bank financial products, achieving annualized returns of 3.26% and 2.05-2.65% respectively[14]. - The company reported a credit impairment loss of ¥639,345.17 in Q1 2020, compared to a gain of ¥345,963.07 in Q1 2019[24]. - The company recovered ¥180,000,000.00 from investments in Q1 2020, consistent with the previous year, indicating stable investment recovery[31]. Donations and Social Responsibility - The company completed cash donations of ¥4.5 million as part of its commitment to the "China Hepatitis B Clinical Cure (Everest) Project" during the reporting period[16]. - The company has a plan to donate a total of 25,000 vials of Peginterferon, with 20,000 vials already donated by the end of the reporting period[16].

Financial Performance - The company achieved a net profit attributable to shareholders of the parent company of ¥64,293,940.53 in 2019, with the parent company net profit at ¥55,772,537.10[3]. - The actual distributable profit for 2019 after statutory surplus reserve allocation was ¥58,716,686.82, with cumulative distributable profit reaching ¥71,994,465.97[3]. - The company's operating revenue for 2019 was approximately CNY 729.67 million, representing a 62.77% increase compared to CNY 448.28 million in 2018[15]. - The net profit attributable to shareholders for 2019 was CNY 64.29 million, a significant increase of 301.76% from CNY 16.00 million in 2018[15]. - The net cash flow from operating activities was CNY 123.30 million, reflecting a 38.31% increase compared to CNY 89.15 million in 2018[15]. - Operating profit reached 116.07 million yuan, an increase of 234.31% compared to the previous year[45]. - The total assets at the end of 2019 amounted to CNY 789.83 million, an increase of 11.59% from CNY 707.77 million at the end of 2018[15]. - The net profit from non-recurring gains and losses reached CNY 86.44 million, up 182.11% from CNY 30.64 million in the previous year[15]. - The basic earnings per share for 2019 was CNY 0.18, a 350.00% increase from CNY 0.04 in 2018[16]. Dividend Distribution - The proposed dividend distribution plan is to pay a cash dividend of ¥0.25 per 10 shares (including tax) to all shareholders[3]. - For the fiscal year 2019, the company proposed a cash dividend of 0.25 yuan per 10 shares, amounting to a total of 10,170,000 yuan, which represents 15.82% of the net profit attributable to ordinary shareholders[122]. - The company has a clear cash dividend policy, prioritizing cash dividends over stock dividends, with a minimum cash distribution of 10% of the distributable profit[120]. Research and Development - The company focuses on the research and development of recombinant proteins and long-acting modified drugs, particularly in the field of chronic hepatitis B clinical cure[22]. - The company has developed a comprehensive innovative drug research and development system, covering upstream technology development, downstream technology development, quality and drugability research, preclinical and clinical research, and industrial research[25]. - The company’s R&D investment totaled ¥64,748,523.67, accounting for 8.87% of its operating revenue, with 135 R&D personnel representing 16.67% of the total workforce[34]. - The company is focusing on innovative drug development in the field of biopharmaceuticals, particularly targeting chronic hepatitis B and malignant tumors[87]. - The company plans to continuously increase R&D investment to meet future development needs[90]. - The company is actively conducting Phase II/III clinical trials for several of its drug candidates, indicating a strong pipeline for future product launches[35]. Market Strategy and Expansion - The company has established a nationwide marketing network covering over 1,000 secondary and tertiary medical institutions[25]. - The company is focused on continuous innovation in biopharmaceutical technology to improve immune health and cure hepatitis B[45]. - The company aims to enhance international cooperation and accelerate the internationalization of its products, focusing on chronic hepatitis B treatment in international markets[117]. - The company is positioned to leverage opportunities from national healthcare reforms, which include centralized procurement and price formation mechanisms[111]. - The company is enhancing international collaboration in scientific research, focusing on new target technology cooperation and strengthening clinical research capabilities[49]. Risk Management - The company has detailed potential risks and countermeasures in the report, emphasizing the importance of investor awareness regarding investment risks[4]. - The company faces risks related to R&D failures, including challenges in meeting key technical standards and potential clinical trial setbacks[51]. - The company recognizes the challenge of effectively translating R&D outcomes into marketable products, which could significantly affect the return on prior investments[53]. - The company has implemented risk control measures to address potential risks in drug quality, adverse reaction monitoring, and environmental pollution prevention[50]. Corporate Governance and Compliance - The report includes a standard unqualified audit opinion from Rongcheng Accounting Firm, ensuring the accuracy and completeness of the financial report[3]. - The company has established a commitment to ensure stable operations and will adhere to relevant legal responsibilities[128]. - The company will comply with any differing regulations from the China Securities Regulatory Commission regarding share reduction responsibilities[133]. - The company has committed to maintaining transparency and accountability in its operations and investor relations[171]. Social Responsibility - The company actively engaged in poverty alleviation efforts, signing agreements with two villages to support their development[192]. - A total of 10 million RMB was allocated for poverty alleviation initiatives during the reporting period[193]. - The company participated in social welfare activities, including donations for public projects to support poverty-stricken populations[200]. - The company implemented effective pandemic prevention measures during the COVID-19 outbreak, ensuring employee health and safety[200].