上海之江生物科技股份有限公司 投资者关系活动记录表 （2022 年 5 月） 证券简称：之江生物 证券代码：688317 | --- | --- | --- | |-------------------------|---------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

证券代码：688317 证券简称：之江生物 上海之江生物科技股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 2022 年第三季度报告 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一) 主要会计数据和财务指标 单位：元 币种：人民币 | 经营活动产生的现金 | 不适用 | 不适用 | 473,382,062.50 | | | 25.49 | | --- | --- | --- | --- | --- | --- | --- | | 流量净额 | | | | | | | | 基本每股收益（元/ | 0.79 | -28.83 | | 3.28 | | 3.14 | | 股） | | | | | | | ...

Financial Performance - The company reported a total revenue of 100 million CNY for the first half of 2022, representing a year-on-year increase of 20%[15]. - The company's operating revenue for the first half of 2022 was approximately RMB 1.48 billion, representing a year-on-year increase of 63.12%[21]. - Net profit attributable to shareholders for the same period was approximately RMB 477.90 million, a year-on-year increase of 23.56%[21]. - The basic and diluted earnings per share increased by 18.36% to RMB 2.45 compared to the same period last year[21]. - The net cash flow from operating activities increased by 178.73% to approximately RMB 314.20 million[21]. - The company has set a revenue guidance of 250 million CNY for the full year 2022, reflecting a growth target of 15%[15]. Market Expansion and Product Development - User data indicates a 30% increase in the number of active users of the company's products, reaching 500,000 users[15]. - The company plans to launch two new products in Q3 2022, targeting a market expansion of 15% in the next fiscal year[15]. - Market expansion efforts include entering two new international markets, aiming for a 10% contribution to total revenue by the end of 2022[15]. - The company has developed multiple series of instruments, including the EX series, iMag series, Autrax series, and Autra series, to meet diverse customer needs, achieving a transition from semi-automation to full automation[30]. - The company has developed and launched new products including COVID-19 antigen and neutralizing antibody detection kits[63]. Research and Development - Research and development expenses increased by 25%, totaling 10 million CNY, focusing on new technologies in molecular diagnostics[15]. - The total R&D investment for the current period was ¥32,038,652.78, a decrease of 2.26% compared to the previous year, with R&D investment as a percentage of operating income dropping from 3.61% to 2.17%[45]. - The company has over 400 products in its molecular diagnostic reagent portfolio, making it one of the most comprehensive in the field of infectious disease diagnostics in China[29]. - The company has developed core technologies such as automated nucleic acid extraction and high-throughput sequencing sample preprocessing technology, enhancing its R&D capabilities[56]. - The company has received 69 authorized patents, including 29 invention patents, indicating a strong focus on innovation and intellectual property[56]. Regulatory Compliance and Risks - The management highlighted potential risks including regulatory changes and market competition, which could impact future performance[15]. - The company faces risks related to product registration, which typically takes 3-5 years, potentially impacting future revenue recovery[68]. - There is a risk of intensified market competition as more manufacturers enter the molecular diagnostics sector, which could affect profitability[70]. - The ongoing COVID-19 pandemic has led to a temporary surge in demand for testing products, but future sales may not be sustainable[71]. Financial Position and Investments - The company maintains a strong cash position with 50 million CNY in cash reserves, ensuring liquidity for ongoing operations and investments[15]. - The total assets grew by 6.49% to approximately RMB 4.53 billion compared to the end of the previous year[21]. - The company made an equity investment of ¥30 million in Shanghai Kangshuai Cold Chain Technology Co., holding a 3.0994% stake post-investment[81]. - The total amount of non-current equity investments increased to ¥77,413,376.71, up from ¥74,968,373.45, indicating a growth of 3.25%[84]. Environmental Responsibility - The company has implemented strict environmental measures for waste management, including wastewater treatment through municipal systems and hazardous waste disposal by qualified firms[97]. - The company has not faced any administrative penalties related to environmental issues during the reporting period, demonstrating compliance with regulations[99]. - The company is committed to environmental responsibility, with measures in place to reduce carbon emissions, although specific actions were not detailed[100]. Shareholder Commitments and Governance - The company aims to avoid any activities that may harm the legitimate rights and interests of shareholders[107]. - The actual controller and major shareholders have pledged to adhere to a profit distribution policy that emphasizes reasonable returns to shareholders while ensuring sustainable development[110]. - The company will ensure compliance with relevant laws and regulations regarding share reduction by major shareholders[113]. - The company has established a commitment to maintain a stable and continuous profit distribution policy, with timely announcements in case of any violations[110]. Stock and Shareholder Structure - The total number of ordinary shareholders as of the end of the reporting period is 26,131[186]. - The top ten shareholders hold a total of 79,533,691 shares, representing 40.8% of the total shares[188]. - Shanghai Zhijiang Pharmaceutical Co., Ltd. is the largest shareholder, holding 64,969,560 shares, which accounts for 33.37% of the total shares[190]. - The company repurchased a total of 1,129,871 shares, accounting for 0.5803% of the total share capital, with a total expenditure of RMB 44,275,029.77[191].

Financial Performance - The company's operating revenue for Q1 2022 was ¥810,004,473.78, representing a year-over-year increase of 23.43%[5] - The net profit attributable to shareholders decreased by 12.90% to ¥275,435,800.66 compared to the same period last year[5] - Basic and diluted earnings per share were both ¥1.41, reflecting a decrease of 20.34% year-over-year[6] - Operating profit for Q1 2022 was ¥324,239,329.48, compared to ¥375,456,296.63 in Q1 2021, reflecting a decrease of 13.6%[16] - Net profit for Q1 2022 was ¥275,435,800.66, down 13.0% from ¥316,215,504.78 in Q1 2021[16] - Total comprehensive income for Q1 2022 was CNY 267,248,470.93, a decrease from CNY 278,047,895.24 in Q1 2021[17] Cash Flow - The net cash flow from operating activities increased by 53.78% to ¥275,709,142.52, primarily due to increased sales and cash collection[7] - Net cash flow from operating activities for Q1 2022 was CNY 275,709,142.52, up from CNY 179,287,670.20 in Q1 2021, representing a growth of 53.5%[20] - The company experienced a net cash outflow from investing activities of CNY -43,788,254.52 in Q1 2022, compared to a larger outflow of CNY -244,979,043.85 in Q1 2021[21] - Cash flow from financing activities in Q1 2022 resulted in a net inflow of CNY 1,948,049,340.89, significantly higher than the previous year[21] - The company received CNY 332,656,747.44 from investment recoveries in Q1 2022, with no such cash inflow reported in Q1 2021[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,549,113,091.56, an increase of 6.92% from the end of the previous year[6] - Current assets totaled ¥3,876,172,287.97, up from ¥3,552,844,091.97 at the end of 2021, indicating a growth of 9.1%[12] - Total liabilities increased to ¥454,455,652.71 from ¥427,270,685.63, marking a rise of 6.0%[14] - Cash and cash equivalents rose to ¥3,164,464,365.60, compared to ¥2,935,924,970.17 at the end of 2021, an increase of 7.8%[12] - The company’s equity attributable to shareholders increased to ¥4,094,657,438.85 from ¥3,827,408,967.91, reflecting a growth of 7.0%[14] Research and Development - Research and development expenses totaled ¥11,128,219.98, which is a decrease of 28.58% year-over-year, accounting for 1.37% of operating revenue[6] - Research and development expenses for Q1 2022 were ¥11,128,219.98, down 28.5% from ¥15,580,686.48 in Q1 2021[16] Shareholder Information - The total number of common shareholders at the end of the reporting period was 23,723[9] - The largest shareholder, Shanghai Zhijiang Pharmaceutical Co., Ltd., held 33.37% of the shares[9] Other Information - The company did not report any significant new product developments or market expansion strategies during this quarter[11] - The company reported a financial income of ¥33,230,483.14 in Q1 2022, significantly higher than ¥3,126,810.98 in Q1 2021[16] - The company paid CNY 49,768,936.33 in taxes during Q1 2022, down from CNY 105,516,974.81 in Q1 2021, indicating a reduction of 52.8%[20] - The company reported a net loss in other comprehensive income of CNY -8,187,329.73 for Q1 2022, compared to a loss of CNY -38,167,609.54 in Q1 2021[17]

Financial Performance - The net profit attributable to shareholders for 2021 was RMB 758,524,934.06, representing a 35.04% cash dividend payout ratio[5]. - The proposed cash dividend is RMB 13.65 per 10 shares (before tax), totaling RMB 265,771,437.75 based on a total share capital of 194,704,350 shares[5]. - As of December 31, 2021, the company's distributable profits amounted to RMB 1,298,787,749.90[5]. - The company has not yet achieved profitability since its listing[4]. - The company's operating revenue for 2021 was CNY 2,018,829,748.78, a decrease of 1.62% compared to the previous year[26]. - The net profit attributable to shareholders of the listed company was CNY 758,524,934.06, down 18.61% year-on-year[26]. - The net cash flow from operating activities decreased by 43.78% to CNY 641,937,293.08, primarily due to increased cash payments for goods and services[28]. - The total assets at the end of 2021 reached CNY 4,254,679,653.54, representing a growth of 126.36% compared to the beginning of the year[28]. - The company's net assets attributable to shareholders increased by 161.69% to CNY 3,827,408,967.91[28]. - Basic earnings per share decreased by 37.62% to CNY 3.98, while diluted earnings per share also fell by the same percentage[29]. - The weighted average return on equity decreased by 69.49 percentage points to 22.13%[29]. - The company reported a quarterly operating revenue of CNY 656,230,414.60 in Q1 2021, with a net profit of CNY 316,215,504.78[31]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 5.39%, up by 2.84 percentage points from the previous year[29]. - R&D investment reached CNY 108.79 million, accounting for 5.39% of operating revenue, with a year-on-year increase of 107.51%[39]. - The company has established a research and development team of 126 personnel, with a total R&D personnel compensation of 18,642,661.40 RMB, reflecting a significant increase from the previous year[94]. - The average salary of R&D personnel has increased to 147,957.63 RMB, up from 125,438.15 RMB in the previous year[94]. - The company is in the process of developing a monoclonal antibody drug targeting SARS-CoV-2, with a total investment of ¥50 million, of which ¥19.02 million has been invested to date[89]. - The company has developed a high-throughput sequencing sample preprocessing technology that improves the accuracy of bacterial identification to the species level[79]. - The company has developed core technologies such as automated nucleic acid extraction and high-throughput sequencing, which are crucial for its product offerings[71]. Market and Product Development - The company plans to expand its market presence and enhance product development in response to the ongoing challenges posed by the pandemic[28]. - The company has developed over 400 products, covering most legally mandated infectious diseases, and exports to multiple countries and regions[47]. - The company has launched several new products, including the portable real-time fluorescence quantitative PCR analyzer and the integrated nucleic acid detection system, addressing industry challenges and expanding application areas[49]. - The company has developed proprietary magnetic bead technology for nucleic acid extraction, allowing for simultaneous extraction of different types of nucleic acids from the same sample, breaking the monopoly of foreign manufacturers[64]. - The company has developed a reagent kit for intestinal flora testing, capable of detecting eight types of beneficial bacteria, with a total investment of 335.55 million RMB[90]. - The company has established partnerships with three leading hospitals to enhance clinical trials, which is expected to accelerate product development timelines[183]. Regulatory and Compliance - The report includes a standard unqualified audit opinion from Zhonghui Certified Public Accountants[5]. - The company has no non-operating fund occupation by controlling shareholders or related parties[9]. - There are no violations of decision-making procedures for external guarantees reported[9]. - The company has established a comprehensive quality management system covering R&D, procurement, production, sales, and service to ensure product quality stability[51]. - The company's governance practices are in compliance with relevant laws and regulations, with no significant discrepancies noted[168]. Risks and Challenges - The company has detailed various operational risks and corresponding mitigation measures in the report[4]. - The company faces risks related to core technology leakage, new product development, and the potential loss of key technical personnel, which could impact its competitive edge[104][106]. - The molecular diagnostics industry is experiencing intensified competition, with both domestic and international players, which may affect the company's operational performance and profitability[107]. - Future performance may be affected by the sustainability of demand for COVID-19 testing products as the pandemic situation evolves[115]. - The implementation of the "two-invoice system" poses long-term risks to the company's performance if strategic adjustments are not made[114]. Employee and Talent Development - The total number of employees increased to 354, up by 65 from the previous year, reflecting the company's focus on talent development[41]. - The employee composition includes 38 production staff, 128 sales personnel, 126 technical staff, 8 financial staff, and 54 administrative staff[197]. - The company emphasizes talent development and has increased training efforts through internal lectures, discussions, and external training[200]. - The company is committed to adjusting compensation plans based on regional and industry characteristics, as well as employee contributions[198]. Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of 25% to $625 million[176]. - The company plans to enhance R&D investment to develop new products, including blood screening nucleic acid test kits and tumor early screening gene test kits[159]. - The company aims to expand its marketing network in major cities like Beijing, Guangzhou, and Wuhan to improve domestic market coverage[161]. - The company anticipates a continuous rapid growth phase requiring significant funding, planning to utilize various financing methods[164].

Financial Performance - The company's revenue for Q3 2021 was ¥573,540,299.36, representing a decrease of 4.34% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2021 was ¥215,960,907.48, down 19.33% year-on-year[5] - The basic earnings per share for Q3 2021 was ¥1.11, a decrease of 39.50% compared to the same period last year[6] - The net profit after deducting non-recurring gains and losses for Q3 2021 was ¥199,479,814.25, a decrease of 25.77% year-on-year[5] - Net profit for the third quarter of 2021 was ¥602,748,336.97, down from ¥695,539,406.89 in the same quarter of 2020, reflecting a decrease of approximately 13.3%[20] - The company reported a total comprehensive income of ¥572,393,149.79 for the third quarter of 2021, compared to ¥707,645,007.85 in the same quarter of 2020, indicating a decline of about 19.0%[21] Research and Development - Research and development expenses totaled ¥25,880,131.10 for Q3 2021, an increase of 187.71% year-on-year, accounting for 4.51% of revenue[6] - Research and development expenses for the first three quarters of 2021 were ¥58,658,299.41, significantly higher than ¥25,389,465.27 in 2020, representing an increase of about 130.9%[19] Assets and Equity - Total assets as of the end of Q3 2021 reached ¥4,086,799,124.44, a 117.43% increase from the end of the previous year[6] - The total equity attributable to shareholders at the end of Q3 2021 was ¥3,665,786,411.72, reflecting a 150.64% increase from the end of the previous year[9] - The company's total assets as of the end of the third quarter of 2021 amounted to ¥4,086,799,124.44, compared to ¥1,879,571,653.56 at the end of the same period in 2020, showing a significant increase of about 117.5%[19] - The company's equity attributable to shareholders reached ¥3,665,786,411.72, compared to ¥1,462,598,582.88 in the same period of 2020, marking an increase of approximately 150.5%[19] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥377,237,951.43, down 50.95% compared to the previous year[5] - The cash inflow from operating activities for the first three quarters of 2021 was CNY 1,518,159,879.48, an increase from CNY 1,416,223,487.96 in the same period of 2020, representing a growth of approximately 7.2%[22] - The net cash flow from operating activities decreased to CNY 377,237,951.43 in Q3 2021, down from CNY 769,124,283.43 in Q3 2020, indicating a decline of about 51%[23] - The total cash outflow from investing activities in Q3 2021 was CNY 500,888,576.14, significantly higher than CNY 75,113,809.10 in Q3 2020, reflecting an increase of approximately 570%[23] - The net cash flow from financing activities in Q3 2021 was CNY 1,634,636,679.05, compared to a negative cash flow of CNY 68,520,717.90 in Q3 2020, showing a substantial improvement[23] - The total cash and cash equivalents at the end of Q3 2021 reached CNY 2,712,942,397.63, up from CNY 861,152,810.40 at the end of Q3 2020, marking an increase of approximately 215%[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 17,432[11] - The top ten shareholders hold a combined 33.3% of the shares, with Shanghai Zhijiang Pharmaceutical Co., Ltd. being the largest shareholder at 64,969,560 shares, or 33.3%[11] - The actual controller and chairman, Mr. Shao Junbin, plans to increase his shareholding by investing between ¥10 million and ¥15 million over a six-month period starting September 1, 2021, reflecting confidence in the company's future[14] Government Subsidies and Non-Recurring Gains - The company reported a total of ¥20,353,048.17 in government subsidies recognized in Q3 2021, contributing to non-recurring gains[7] Market and Product Development - The company has disclosed plans for market expansion and product development, focusing on enhancing its product portfolio and competitive edge[14] - The company received EU CE certification for several products, including COVID-19 testing kits and automated nucleic acid extraction instruments, enhancing its market competitiveness[14] Operating Costs - Total operating costs for the first three quarters of 2021 were ¥783,020,268, compared to ¥585,948,095 in 2020, indicating an increase of about 33.6%[19] Audit and Compliance - The company has not reported any audit opinion type applicable for the financial statements as of September 30, 2021[15] - The company did not apply the new leasing standards for the first time in 2021, which may impact future financial reporting[24] Related Party Relationships - The company has disclosed that it is unknown whether other shareholders have any related party relationships or concerted action relationships, aside from the known connections[12]

Financial Performance - The company reported a total revenue of 100 million RMB for the first half of 2021, representing a year-on-year increase of 20%[15]. - The company's operating revenue for the first half of 2021 was approximately ¥906.9 million, representing a year-on-year increase of 10.79%[22]. - Future guidance estimates a revenue growth of 25% for the full year 2021, driven by new product launches and market expansion[15]. - Revenue increased due to heightened demand for molecular diagnostic products amid the ongoing COVID-19 pandemic, resulting in a sales growth of 60.80% year-on-year, with total revenue reaching approximately ¥263.44 million[81]. - Operating costs rose in line with revenue growth, totaling ¥263.44 million, reflecting a 60.80% increase compared to the previous year[81]. Profitability and Expenses - The gross profit margin improved to 60%, up from 55% in the same period last year[15]. - The net profit attributable to shareholders decreased by 9.59% year-on-year to approximately ¥386.8 million, primarily due to a decline in gross profit from COVID-19 testing reagent centralized procurement and increased sales and R&D expenses[22]. - Basic and diluted earnings per share decreased by 29.35% year-on-year to ¥2.07, influenced by the increase in share capital from the IPO[24]. - The net cash flow from operating activities dropped by 77.19% year-on-year to approximately ¥112.7 million, attributed to increased cash payments for goods and taxes[26]. Research and Development - Research and development expenses accounted for 10% of total revenue, reflecting the company's commitment to innovation[15]. - The R&D expenditure as a percentage of operating revenue rose by 1.61 percentage points to 3.61%, reflecting the company's commitment to technological innovation[24]. - R&D investment totaled approximately ¥32.78 million, a 99.94% increase compared to the previous period, with R&D expenses accounting for 3.61% of operating revenue, up by 1.61 percentage points[45][46]. - The company has developed over 400 products in molecular diagnostics, covering most legally mandated infectious diseases, and has received EU CE certification for several COVID-19 testing reagents[30]. Market Expansion and Product Development - User data indicates a 30% increase in active users, reaching 1.5 million by the end of June 2021[15]. - The company plans to launch two new products in Q3 2021, targeting a market expansion of 15% in the next fiscal year[15]. - The company is actively exploring international markets, with plans to enter Southeast Asia by the end of 2021[15]. - The company has established partnerships with three major hospitals to enhance its distribution network[15]. Risks and Challenges - The management highlighted potential risks including regulatory changes and market competition, which could impact future performance[15]. - The company faces risks from intensified market competition, particularly from multinational companies like Roche and Abbott, which dominate the high-end medical market[69]. - The company acknowledges the risk that the high growth in performance due to the COVID-19 pandemic may not be sustainable in the future[72]. - The company is subject to strict regulatory policies in the in vitro diagnostic industry, which may impact its operations if it fails to adapt to changes[71]. Corporate Governance and Shareholder Commitments - The company appointed Lü Liliang as the new General Manager after the resignation of Shao Junbin, who remains as Chairman and Director of the R&D Center[96]. - The actual controller and major shareholders have committed to avoiding competition with the company, ensuring no direct or indirect control over competing entities[110]. - The commitments made by the actual controller and major shareholders are effective and irrevocable during their tenure[117]. - The company commits to a proactive profit distribution policy, ensuring reasonable returns to shareholders while maintaining sustainable development[118]. Environmental Responsibility - The company has implemented strict measures for wastewater, solid waste, and noise management in compliance with environmental regulations[102][104]. - The company reported no administrative penalties related to environmental issues during the reporting period[104]. - The company has a focus on environmental responsibility, ensuring compliance with national environmental protection laws[101]. Shareholder Structure and Stock Management - The total number of shareholders is 74[190]. - The largest shareholder, Shanghai Zhijiang Pharmaceutical Co., Ltd., holds 64,969,560 shares, representing 33.37% of total shares[193]. - The company has a total of 6,002,000 shares under restricted conditions that will be tradable starting in 2024[197]. - The lock-up period for shares allocated to strategic investors is 12 months from the date of public offering on the Shanghai Stock Exchange[199].

Financial Performance - Operating revenue for the first quarter was RMB 656,230,414.60, a 201.37% increase compared to the same period last year[7] - Net profit attributable to shareholders increased by 221.52% year-on-year, amounting to RMB 316,215,504.78[7] - Basic earnings per share increased by 164.18% to RMB 1.77[7] - The company reported a total comprehensive income of ¥278.05 million for Q1 2021, compared to ¥62.08 million in Q1 2020, which is an increase of about 348%[29] - Operating profit for Q1 2021 reached ¥375.46 million, compared to ¥113.51 million in Q1 2020, indicating an increase of approximately 230%[28] - The company incurred a tax expense of ¥58.42 million in Q1 2021, compared to ¥15.15 million in Q1 2020, which is an increase of approximately 285%[28] Assets and Liabilities - Total assets increased by 122.09% year-on-year, reaching RMB 4,174,307,922.64[7] - The company's total assets as of March 31, 2021, amounted to RMB 3,686,735,980.88, up from RMB 1,582,916,525.82 at the end of the previous year[19] - Total liabilities decreased to ¥574,686,167.33 in Q1 2021 from ¥596,398,384.73 in Q4 2020, reflecting a reduction of approximately 3.7%[25] - The company's equity increased to ¥3,649,959,197.74 in Q1 2021, up from ¥1,438,570,779.29 in Q4 2020, marking an increase of around 153.5%[25] Cash Flow - Cash flow from operating activities rose by 29.88% to RMB 179,287,670.20[7] - The net cash flow from operating activities was ¥179,287,670.20, up from ¥138,044,205.22 in the same period last year, reflecting a growth of 29.8%[32] - The company reported cash inflow from operating activities of ¥635,207,144.40, a significant increase of 184.1% compared to ¥224,026,524.37 in Q1 2020[32] - Total cash inflow from financing activities reached ¥1,958,830,045.24, with no inflow recorded in Q1 2020[33] - The net cash flow from financing activities was ¥1,948,049,340.89, compared to no cash outflow in the previous year[33] - The company reported a net cash outflow from investing activities of ¥244,979,043.85, compared to ¥7,083,378.88 in Q1 2020, reflecting an increase of 3,457.5%[33] Research and Development - Research and development expenses accounted for 2.37% of operating revenue, down from 3.17%[8] - Research and development expenses rose by 125.57% to RMB 15,580,686.48, indicating the company's commitment to innovation and technology development[15] - Research and development expenses for Q1 2021 totaled ¥15.58 million, compared to ¥6.91 million in Q1 2020, marking an increase of approximately 125%[28] Shareholder Information - The top shareholder, Shanghai Zhijiang Pharmaceutical Co., Ltd., holds 33.37% of the shares[11] - The total number of shareholders at the end of the reporting period was not specified[9] Inventory and Operating Costs - The total inventory increased by 122.91% to RMB 293,631,918.12, attributed to increased stockpiling due to the ongoing COVID-19 pandemic[15] - The company's gross profit margin increased, with operating costs rising by 303.95% to RMB 182,927,434.73, reflecting the revenue growth[15] - The total operating costs for Q1 2021 were ¥276.84 million, up from ¥101.10 million in Q1 2020, indicating a rise of about 174%[28] Future Outlook - The company has not indicated any significant changes in its future outlook or guidance for the upcoming periods[16]

Financial Performance - The net profit attributable to shareholders for 2020 was RMB 932,009,443.50, representing a year-on-year increase [6]. - The proposed cash dividend is RMB 16 per 10 shares, totaling RMB 311,526,960, which accounts for 33.43% of the net profit [6]. - As of December 31, 2020, the company's distributable profits amounted to RMB 883,440,108.39 [6]. - The company's operating revenue for 2020 reached ¥2,052,141,874.39, representing a 692.72% increase compared to ¥258,872,522.24 in 2019 [25]. - The net profit attributable to shareholders for 2020 was ¥932,009,443.50, a significant increase of 1,708.96% from ¥51,521,833.30 in the previous year [25]. - The net cash flow from operating activities for 2020 was ¥1,141,796,462.48, an increase of 1,389.41% compared to ¥76,660,805.72 in 2019 [25]. - The total assets at the end of 2020 amounted to ¥1,879,571,653.56, reflecting a 192.80% increase from ¥641,930,146.52 at the end of 2019 [25]. - The net assets attributable to shareholders increased to ¥1,462,598,582.88, a 155.77% rise from ¥571,843,209.21 in 2019 [25]. - The company's basic earnings per share (EPS) increased by 1,722.86% year-on-year, reaching 6.38 CNY per share in 2020 compared to 0.35 CNY in 2019 [26]. - The weighted average return on equity (ROE) rose by 82.39 percentage points to 91.62% in 2020, reflecting substantial profit growth [26]. Research and Development - The company has been actively involved in the research and development of new technologies and products related to nucleic acid testing and diagnostics [24]. - The R&D expenditure as a percentage of operating income decreased by 6.49 percentage points to 2.55% in 2020 [26]. - The company achieved a significant increase in R&D investment, totaling ¥52,425,072.12, which represents a growth of 123.99% compared to the previous year [62]. - The total R&D investment accounted for 2.55% of the operating revenue, a decrease of 6.49 percentage points from the previous year [62]. - The company has developed multiple core technologies, including automated nucleic acid extraction technology and high-throughput sequencing sample preprocessing technology, which enhance efficiency and precision in clinical testing [55][57]. - The company has developed a patented method for preparing high magnetic content, monodisperse magnetic beads, which improves nucleic acid extraction efficiency [54]. - The company has developed multiple nucleic acid extraction and detection instruments, addressing industry challenges such as complexity and time consumption [48]. Market Expansion and Strategy - The company is focused on expanding its market presence and enhancing its product offerings in the biotechnology sector [24]. - The company aims to leverage its strong financial performance to pursue strategic acquisitions and partnerships in the healthcare industry [24]. - The company has established a strong customer base in the HPV field, including top hospitals such as Peking Union Medical College Hospital and Shanghai Ruijin Hospital [47]. - The company aims to expand its market presence by addressing the complexities and time-consuming nature of traditional molecular diagnostic technologies [38]. - The company plans to enhance R&D investment to strengthen existing product technology and develop new products, including blood screening nucleic acid test kits and tumor early screening gene test kits [134]. - The company intends to improve internal controls and quality management to ensure product reliability and stability [137]. - The company will optimize its service and management of the distributor network to enhance technical support and responsiveness to market information [135]. Compliance and Governance - The report includes a standard unqualified audit opinion from Zhonghui Certified Public Accountants [6]. - The company does not have any special arrangements for corporate governance [10]. - The company has not violated decision-making procedures for external guarantees [10]. - The company has committed to avoiding related party transactions and competition, aimed at protecting shareholder interests [150][151]. - The company will strictly adhere to the profit distribution policy approved at the third extraordinary general meeting of shareholders in 2020, ensuring reasonable returns to shareholders while maintaining sustainable development [158]. Risks and Challenges - The company has outlined various operational risks and corresponding mitigation measures in the report [5]. - The company faces risks related to core technology leakage, which could impact its competitive edge in the molecular diagnostics industry [86]. - The company is exposed to market competition risks, particularly from multinational corporations that dominate the high-end medical market [89]. - The company must navigate potential price declines for its products as competition increases and regulatory changes occur [90]. - The company faces risks related to the sustainability of high growth due to the COVID-19 pandemic and potential changes in international trade policies affecting imported raw materials [96][95]. Product Development and Certifications - The company has developed over 400 types of molecular diagnostic products, covering most legally mandated infectious diseases in China [36]. - The company has received multiple international certifications for its COVID-19 test kits, including EU CE certification and inclusion in the WHO emergency use list [26]. - The company’s COVID-19 nucleic acid test kits have been certified by multiple international authorities and are included in the WHO Emergency Use Listing, with sales to over 80 countries and regions [80]. - The company has launched several automated nucleic acid extraction instruments and has obtained product registration certificates for these devices [75]. - The company’s HPV products have received CFDA/NMPA and EU CE certifications, demonstrating a strong technological advantage in the HPV testing field [46]. Employee and Talent Management - The total number of employees increased to 289, up by 58 from the end of the previous year, indicating a focus on talent development [85]. - The company has a total of 109 R&D personnel, accounting for 37.72% of the total workforce, with an average salary of RMB 125,438.15 [71]. - The company emphasizes the importance of maintaining a stable technical talent team to ensure ongoing technological leadership and core competitiveness [88]. - The company is committed to maintaining a competitive compensation and incentive mechanism to attract and retain high-end talent [136]. Financial Management and Investments - The company has invested a total of RMB 29,165 million, with RMB 5,144.09 million invested in the current period, and a cumulative investment of RMB 8,331.67 million [69]. - The company plans to increase its stake in Sanyou Biological from 14.01% to 19.5029% through a cash investment of ¥20 million [125]. - The company will implement a fundraising management system to ensure the legal and compliant use of raised funds, protecting the interests of investors, especially minority shareholders [199]. - The company will actively manage the raised funds in a dedicated account to ensure proper usage and compliance with regulations [199].