Financial Performance - The company reported a negative retained earnings balance at the end of the reporting period, indicating no profit distribution for 2022, including no cash dividends or stock bonuses [5]. - The company has not achieved profitability since its listing, which is a critical factor for future financial planning [4]. - The net profit attributable to shareholders was CNY 26.58 million, a decrease of 75.38% compared to the previous year, while the net profit after deducting non-recurring gains and losses was CNY 720.71 thousand, down 99.25% [24]. - The company achieved operating revenue of CNY 547.48 million in 2022, a year-on-year increase of 12.38%, primarily due to the sustained growth in sales of tetanus vaccines [26]. - The company's total revenue for 2022 was CNY 547.48 million, an increase of 12.38% from CNY 487.15 million in the previous year [87]. - The net profit attributable to the parent company was CNY 26.58 million, a decrease of 75.38% compared to CNY 107.96 million in the previous year [87]. - The total liabilities rose by 59.85% to CNY 587.02 million from CNY 367.22 million at the beginning of the year, resulting in a debt-to-asset ratio of 39.69% [87]. - The company received government subsidies related to revenue amounting to 27.28 million yuan, an increase of 184.5% year-on-year [77]. - The gross margin for the pharmaceutical manufacturing segment was 92.94%, with a slight decrease of 1 percentage point compared to the previous year [93]. Research and Development - The company is in a rapid development phase, requiring significant investment in new product research and project construction [5]. - Research and development expenses increased by CNY 65.63 million, a year-on-year growth of 116.45%, reflecting the company's commitment to enhancing its R&D capabilities [26]. - The company allocated 40.05% of its operating revenue to R&D, an increase of 27.11 percentage points compared to the previous year [25]. - The total R&D investment increased by 247.82% year-on-year, reaching approximately CNY 219.26 million in 2022, compared to CNY 63.04 million in 2021 [62]. - The number of ongoing research projects increased to 20 in 2022, a rise of 5 projects or 33.33% compared to 15 projects in 2021 [67]. - The company has established two R&D platforms covering nearly 10,000 square meters, focusing on various vaccine types including bacterial and viral vaccines [47]. - The company is actively working on innovative vaccines, including a group A streptococcus vaccine developed in collaboration with Griffith University [56]. - The company has multiple projects in the preclinical stage, including the quadrivalent influenza virus split vaccine, which are progressing well [132]. - The company has established a new adjuvant technology platform to support the development and commercialization of new vaccines [59]. Product Development and Pipeline - The company is focused on expanding its product line, particularly in the vaccine sector, which includes Hib conjugate vaccines and AC conjugate vaccines [13]. - The company successfully initiated the Phase III clinical trial for the recombinant pneumococcal vaccine and received production registration approval for the Hib vaccine [33]. - The company is in the clinical trial or production registration phase for several products, including the AC-Hib combined vaccine and a recombinant Staphylococcus aureus vaccine, which could fill a global market gap [48]. - The production registration application for the AC-Hib combined vaccine has been accepted by the drug regulatory authority [123]. - The company has launched three vaccine products and holds over 100 patents, focusing on a dual strategy of upgrading traditional vaccines and developing innovative vaccines [150]. - The company is developing a quadrivalent influenza virus split vaccine (MDCK cells) to enhance its vaccine product pipeline [62]. - The company has built three vaccine raw material production lines and four packaging lines in compliance with GMP standards, ensuring product quality and safety [73]. Market and Sales Strategy - The company has established a marketing network covering all 31 provinces, autonomous regions, and municipalities in China, laying a solid foundation for future market expansion [38]. - The company anticipates continued growth in vaccine sales, which will support future revenue increases [26]. - The company is focusing on the development of combination vaccines to reduce the number of injections while preventing more diseases, addressing the need for improved immunization efficiency and coverage [51]. - The company plans to prepare for the launch of the AC-Hib combination vaccine by implementing pre-launch promotional strategies [153]. - The marketing strategy includes expanding market share for existing products and enhancing sales networks by targeting county-level disease control centers and engaging in academic promotion activities [153]. Corporate Governance and Compliance - The company has a standard unqualified audit report from Zhongqin Wanxin Accounting Firm, ensuring the accuracy of the financial statements [5]. - The company has no special arrangements for corporate governance that would affect the annual report's integrity [8]. - The company emphasizes information disclosure and has implemented training to strengthen the awareness of disclosure responsibilities among relevant parties [159]. - The company held one shareholders' meeting during the reporting period, which was conducted in compliance with legal and regulatory requirements [162]. - The board of directors convened eight meetings during the reporting period, successfully completing the election of the sixth board of directors [156]. Risks and Challenges - The company has outlined various operational risks in the management discussion and analysis section of the report [4]. - The company's future plans and strategic developments are subject to investment risks, as stated in the forward-looking statements section [6]. - The company is facing risks related to the commercialization of its innovative products, particularly the recombinant pneumococcal vaccine and AC-Hib vaccine [80]. - The company's accounts receivable net amount was 491.17 million yuan, accounting for 52.48% of current assets, indicating potential liquidity risks [83]. - The company anticipates that the clinical research projects for certain vaccines will be delayed until 2026 and 2027 [82]. Human Resources and Compensation - The company employs a total of 440 staff members, with 328 in the parent company and 112 in major subsidiaries [191]. - The company has established a competitive and fair compensation policy, providing various benefits such as meal allowances and free health check-ups to enhance employee satisfaction [193]. - The total pre-tax compensation for the directors and senior management amounted to 830.29 million CNY, with the highest individual compensation being 115.17 million CNY [168]. - The average salary of R&D personnel increased by 19.00% to CNY 19.06 thousand in 2022, up from CNY 16.02 thousand in 2021 [66]. - The company’s workforce includes 122 R&D personnel, indicating a strong focus on innovation and product development [191].

证券代码：688319 证券简称：欧林生物 公告编号：2023-027 成都欧林生物科技股份有限公司关于参加 2022 年度生物制品专场集体业绩说明会的公告 本次投资者说明会以视频和网络互动形式召开，公司将针对 2022 年度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、方式 （一）会议线上交流时间：2023 年 06 月 14 日（星期三）下午 14:00-15:00 会议召开时间：2023 年 06 月 14 日(星期三)下午 14:00-15:00 会议召开方式：视频和线上文字互动 视 频 和 线上 文 字互 动 平 台 ：上 海 证券 交 易 所 上证 路 演中 心 （ 网址： http://roadshow.sseinfo.com/） （二）会议召开方式：视频和线上文字互动 （三）视频和线上文字互动平台：上海证券交易所上证路演中心 （http://roadshow.sseinfo.com/） 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 ...

Financial Performance - The company reported a negative retained earnings balance at the end of the reporting period, indicating no profit distribution for 2022, including no cash dividends or stock bonuses [5]. - The company has not achieved profitability since its listing, which is a critical factor for future financial planning [4]. - The net profit attributable to shareholders was CNY 26.58 million, a decrease of 75.38% compared to the previous year, while the net profit after deducting non-recurring gains and losses was CNY 720,708.63, down 99.25% [24]. - The total revenue for 2022 was CNY 547.48 million, an increase of 12.38% from CNY 487.15 million in the previous year [85]. - The net profit attributable to the parent company was CNY 26.58 million, a decrease of 75.38% compared to CNY 107.96 million in the previous year [85]. - The company experienced a net cash outflow from operating activities of CNY 24.55 million, a significant decline from a positive cash flow of CNY 39.96 million in the previous year [86]. - The total liabilities rose by 59.85% to CNY 587.02 million, leading to an asset-liability ratio of 39.69% [85]. - The company recognized government subsidies of CNY 27.28 million, which accounted for 62.50% of the total profit for the period [83]. Research and Development - The company is in a rapid development phase, requiring significant investment in new product research and project construction [5]. - Research and development expenses increased by CNY 65.63 million, a year-on-year growth of 116.45%, reflecting the company's commitment to enhancing R&D efforts [24]. - The proportion of R&D investment to operating revenue was 40.05%, an increase of 27.11 percentage points year-on-year [23]. - The company has established two R&D platforms covering nearly 10,000 square meters, focusing on various vaccine types including bacterial and viral vaccines [47]. - The company is focused on developing viral vaccines, bacterial vaccines, recombinant protein vaccines, and nucleic acid vaccines to drive future growth [36]. - The total R&D investment increased significantly by 247.82% year-on-year, reaching approximately CNY 219.26 million, with a capitalized R&D investment of CNY 97.27 million, up 1,356.41% [60]. - The company is currently developing a quadrivalent influenza virus split vaccine (MDCK cells) to enhance its vaccine product pipeline [58]. - The company has a structured marketing approach with dedicated departments for sales, market promotion, and drug safety monitoring [122]. Market Expansion and Strategy - The company is actively pursuing market expansion strategies to enhance its competitive position in the biopharmaceutical sector [11]. - The company has established a marketing network covering all 31 provinces, autonomous regions, and municipalities in China, laying a solid foundation for future market expansion [38]. - The company aims to enhance its R&D capabilities and product pipeline through a strategy of collaboration and innovation, addressing significant health issues globally [49]. - The company plans to enhance its market competitiveness through a dual-driven product development strategy of "traditional vaccine upgrades and innovative vaccine development" [134]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 500 million yuan allocated for this purpose [156]. Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties, indicating a stable governance structure [7]. - The company has not made any guarantees that violate decision-making procedures, reflecting adherence to regulatory compliance [8]. - The company emphasizes the importance of investor awareness regarding the risks associated with forward-looking statements in the report [6]. - The company confirmed that there were no significant differences in governance compared to regulations set by the China Securities Regulatory Commission [143]. - The company actively maintained the health and sustainability of its operations through diligent oversight by the Supervisory Board [141]. Environmental and Social Responsibility - The company invested CNY 375,700 in environmental protection during the reporting period [195]. - The company was listed as a key pollutant discharge unit by the Chengdu Ecological Environment Bureau, focusing on wastewater and air emissions [196]. - The company emphasizes its commitment to ESG principles, integrating them into its corporate development strategy [194]. - The company operates a fermentation waste gas treatment facility that is functioning normally and meeting discharge standards [200]. Product Development and Pipeline - The company successfully initiated the Phase III clinical trial for the recombinant pneumococcal vaccine and received production registration approval for the AC-Hib combined vaccine [33]. - The company is in the clinical trial or production registration phase for several products, including the AC-Hib combined vaccine and a recombinant gold bacteria vaccine, which could fill a global market gap [48]. - The company has accumulated over 130 patents and has three products on the market, with several others in various stages of development [38]. - The company has a rich pipeline of products in preclinical research, including vaccines for A group streptococcus and oral recombinant Helicobacter pylori [113]. Human Resources and Talent Development - The company is expanding its R&D team and has built a virus vaccine technology platform to support ongoing projects [62]. - The company has established a dual career development path focusing on management and technical skills, with a comprehensive training program for employee growth [179]. - The total number of shares held by the company's directors and senior management at the beginning of the year was 58,802,126, which increased to 63,172,626 by the end of the year, representing a net increase of 4,370,500 shares [152]. - The company emphasizes a competitive compensation policy to enhance employee motivation, including performance-based annual bonuses and various employee benefits [180].

2023 年第一季度报告 证券代码：688319 证券简称：欧林生物 成都欧林生物科技股份有限公司 2023 年第一季度报告 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 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。 第一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 | | 本报告期 | | 本报告期比上年 | | --- | --- | --- | --- | | 项目 | | | 同期增减变动幅 | | | | | 度(%) | | 营业收入 | | 66,871,073.79 | 24.91 | | 归属于上市公司股东的净利润 | | 3,853,633.15 | 不适用 | | 归属于上市公司股东的扣除非 经常性损益的净利润 | ...

成都欧林生物科技股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩暨现金 分红说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 证券代码：688319 证券简称：欧林生物 公告编号：2023-018 重要内容提示： 成都欧林生物科技股份有限公司（以下简称"公司"）已于 2023 年 4 月 26 日发布公司 2022 年年度报告和 2023 年第一季度报告，为 便于广大投资者更全面深入地了解公司 2022 年度和 2023 年第一季 度的经营成果、财务状况以及 2022 年度利润分配情况，公司计划于 2023 年 05 月 09 日下午 15:00-16:00 举行 2022 年度暨 2023 年第一 季度业绩暨现金分红说明会，就投资者关心的问题进行交流。 会议召开时间：2023 年 05 月 09 日(星期二)下午 15:00-16:00 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2 ...

1 证券代码：688319 证券简称：欧林生物 时间：2022 年 4 月 | --- | --- | --- | |----------------------------|-----------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------| | 投资者关系 \n活动类别 \n | □媒体采访 \n□新闻发布会 □路演活动 \n□现场参观 | □特定对象调研 □分析师会议 \n□业绩说明会 \n√其他（电话会议） | | 参与单位名 | 2022 年 4 月 28 | 日：德邦证券 陈进等 11 家机构参与电话会议（详见 | | 称及人员 姓名 | 附件清单）； 2022 年 4 月 28 | 日：兴业证券 东楠等 20 家机构参与电话会议（详见 | | 时间 | 附件清单）。 2022 年 4 月 2 ...

1 证券代码：688319 证券简称：欧林生物 时间：2022 年 6 月 成都欧林生物科技股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------------------|-------------------------------------------------|----------------------------------------------------------------| | 投资者关系 \n活动类别 \n | □媒体采访 \n□新闻发布会 □路演活动 \n□现场参观 | □特定对象调研 □分析师会议 \n□业绩说明会 \n√ 其他（电话会议） | | 参与单位名 | 2022 年 6 月 13 | 日：申万宏源 凌静怡等 39 家机构参与电话会议（详 | | | 见附件清单）； | | | 称及人员 姓名 | 2022 年 6 月 14 附件清单）。 | 日：华西证券 支君等 19 家机构参与电话会议（详见 | | 时间 | 2022 年 6 月 13 日、 | 2022 年 6 月 14 日 | | | 地点 公司会议室（电 ...

2022 年第三季度报告 证券代码：688319 证券简称：欧林生物 成都欧林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： 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。 公司负责人樊绍文、主管会计工作负责人谭勇及会计机构负责人（会计主管人员）秦星瑶保 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 | 项目 | 本报告期 | 本报告期 | 年初至报告期末 | 年初至报告 | | --- | --- | --- | --- | --- | | | | 比上年同 | | 期末比上年 | | | | 期增减变 | | 同期增减变 | | | | 动幅度(%) | | 动幅度(%) | | 营业收入 | 138,069,739.47 | 19.39 | 37 ...

Financial Performance - The company reported a total revenue of RMB 100 million for the first half of 2022, representing a year-on-year increase of 15%[13]. - The net profit attributable to shareholders was RMB 20 million, up 10% compared to the same period last year[13]. - The company's operating revenue for the first half of the year reached 232.71 million yuan, an increase of 37.60% compared to the same period last year[19]. - Net profit attributable to shareholders decreased by 26.71% to 31.04 million yuan, primarily due to increased R&D and management expenses[19]. - Basic and diluted earnings per share fell by 34.02% to 0.0766 yuan per share[20]. - The gross margin for the first half of 2022 was reported at 60%, consistent with the previous year[13]. - The company has set a performance guidance for the full year 2022, projecting a revenue growth of 20%[13]. - The company achieved operating revenue of 232.71 million yuan, an increase of 37.60% compared to the same period last year, primarily due to the continued promotion of the adsorbed tetanus vaccine[44]. - The net profit for the first half of 2022 was CNY 31,042,436.75, down from CNY 42,353,458.66 in the first half of 2021, indicating a decrease of about 26.6%[134]. Research and Development - Research and development expenses increased by 20% to RMB 15 million, reflecting the company's commitment to innovation[13]. - R&D expenses increased by 38.90% to 8.84 million yuan, representing 15.65% of operating revenue, up 2.22 percentage points year-on-year[19][24]. - The company has 120 R&D personnel, a 79.10% increase year-on-year, with 90% holding a bachelor's degree or higher[25]. - The company is advancing multiple vaccine products, including the AC-Hib combined vaccine, which is in the production application stage, and the recombinant pneumococcal vaccine, which is in Phase III clinical trials[24][26]. - The company reported a total R&D investment of CNY 36,415,340.27, representing a 60.33% increase compared to the same period last year[33]. - The company has developed a recombinant Staphylococcus aureus vaccine, investing CNY 1,150,490.00 in this project, which accounts for 31.59% of total R&D investment[34]. - The company has established a mature R&D industrialization platform with three vaccines already on the market, and plans to develop a viral vaccine platform[41]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a revenue contribution of 10% from this region by 2023[13]. - A strategic partnership was formed with a leading pharmaceutical company to enhance distribution channels, expected to improve sales by 15%[13]. - The company plans to launch two new vaccine products by the end of 2022, aiming to capture a 30% market share in the pediatric vaccine segment[13]. - The company signed an investment cooperation agreement to establish a vaccine R&D and industrial transformation service research institute in Chengdu, aiming to enrich its R&D pipeline and product structure[45]. - The company is collaborating with Lanzhou Bailing Biotechnology Co., Ltd. on the development of an influenza vaccine, marking its first venture into virus-based vaccine products[45]. Financial Position and Assets - Total assets increased by 7.50% to 1.30 billion yuan compared to the end of the previous year[19]. - The company reported a significant increase in cash and cash equivalents, reaching CNY 424,589,792.97, up 66.92% from CNY 254,367,559.22[58]. - The net accounts receivable at the end of the reporting period was 379.24 million yuan, accounting for 42.48% of current assets, indicating a significant increase in receivables alongside revenue growth[49]. - The total liabilities increased to ¥424,471,873.09 from ¥365,038,935.68, marking a rise of 16.2%[130]. - The company's total assets as of June 30, 2022, were ¥1,348,299,542.92, compared to ¥1,248,757,592.31 at the beginning of the year, reflecting a growth of 8%[130]. Environmental Compliance - The company was recognized as a "2021 Model of Integrity Enterprise" by local authorities, enhancing its reputation in the industry[43]. - In the first half of 2022, the company achieved compliance in all monitored pollutant emissions, with no environmental pollution incidents reported[71]. - The company has implemented measures to reduce carbon emissions, although specific details were not disclosed[79]. - The company has a dedicated environmental protection institution and adheres to strict pollution prevention measures[78]. - The company has established a hazardous waste storage area and collaborates with qualified third-party units for waste disposal[73]. Shareholder Commitments and Governance - The company has committed to a share lock-up period of 36 months from the date of listing for certain shareholders, ensuring no transfer or management of pre-IPO shares[81]. - The company reported that all commitments made by major shareholders and related parties have been strictly fulfilled within the specified timeframes[81]. - The company has established commitments to address competition and related party transactions among its board members and senior management[82]. - The company has committed to ensuring that related party transactions are conducted at fair market prices, adhering to legal regulations and guidelines[91]. - The company has ensured that its commitments are also adhered to by close relatives of the controlling party, reinforcing accountability[91]. Legal and Regulatory Compliance - The company has confirmed that its prospectus does not contain any false statements or misleading information, and it will be liable for any losses incurred by investors due to such issues[93]. - The company has pledged to repurchase all newly issued shares if any false information is found in the prospectus that materially affects the issuance conditions[93]. - The company has not reported any significant changes in accounting policies or prior period error corrections for the current reporting period[156]. - The company will comply with all relevant laws and regulations regarding share reduction and transfer, including those set by the Shanghai Stock Exchange[87]. Cash Flow and Investment Activities - The net cash flow from operating activities was negative CNY 34,401,006.06, a decline from negative CNY 7,012,732.76 in the previous year[55]. - Cash inflow from investment activities surged to CNY 312,083,742.04 in the first half of 2022, up from CNY 10,086,301.37 in 2021, indicating a significant increase[143]. - The net cash flow from investment activities was CNY 137,129,469.93 for the first half of 2022, a recovery from a negative CNY 13,907,869.20 in the same period of 2021[143]. - Cash inflow from financing activities was CNY 65,000,000.00 in the first half of 2022, down from CNY 371,205,852.00 in 2021[143].

Financial Performance - The company reported a negative retained earnings balance as of the end of the reporting period, thus no profit distribution or capital reserve transfer to share capital for 2021[5]. - The company has not achieved profitability since its listing, indicating ongoing financial challenges[4]. - The company's total revenue for 2021 was CNY 487,151,580.35, representing a 52.18% increase compared to CNY 320,109,157.13 in 2020[22]. - Net profit attributable to shareholders reached CNY 107,963,523.13, a significant increase of 198.82% from CNY 36,130,174.95 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY 96,660,127.39, up 253.54% from CNY 27,340,876.22 in 2020[22]. - The net cash flow from operating activities increased by 89.49% to CNY 39,961,825.47, compared to CNY 21,089,134.24 in 2020[22]. - Total assets at the end of 2021 were CNY 1,211,880,833.86, an increase of 88.99% from CNY 641,257,275.27 in 2020[22]. - The net assets attributable to shareholders grew by 124.07% to CNY 844,658,320.30, compared to CNY 376,970,154.84 at the end of 2020[22]. - The basic earnings per share for 2021 was CNY 0.2804, a 182.95% increase from CNY 0.0991 in 2020[23]. - The company recognized government subsidies of CNY 9.59 million during the reporting period, which accounted for 8.88% of the total profit[77]. Research and Development - The company launched the AC combined vaccine, contributing to revenue growth during the reporting period[25]. - The R&D expenditure as a percentage of revenue was 12.94%, a slight decrease from 13.68% in 2020[23]. - The company has successfully completed the Phase II clinical trial summary report for its innovative Staphylococcus aureus vaccine, indicating good safety and immunogenicity, and has received multiple invention patents[34]. - The company has developed six core technologies, including polysaccharide-protein conjugation technology and gene engineering technology, which are crucial for vaccine innovation and production[47]. - The company is developing a recombinant Staphylococcus aureus vaccine, with a total investment of CNY 62,983,000 and current investment of CNY 6,737,010, currently in Phase II clinical trials[63]. - The company has established a mature R&D industrialization platform, with three vaccines already on the market and several others in various stages of development[68]. - The company has several projects in the preclinical research stage, including the Hib combined vaccine and the 23-valent pneumococcal polysaccharide vaccine[114]. - The company has established a research and development strategy that combines independent and collaborative efforts, focusing on both traditional and innovative vaccines[113]. - The company is focused on developing innovative vaccines to meet unmet medical needs, with a particular emphasis on upgrading traditional vaccines and creating new products with significant market potential[130]. Market and Product Development - The company plans to continue expanding its market presence and product offerings in response to the growing demand for vaccines[25]. - The global vaccine market size increased from $27.5 billion in 2016 to $36.5 billion in 2020, with a compound annual growth rate (CAGR) of 7.3%, and is expected to reach $136.7 billion by 2031[40]. - The company has three products on the market: Tetanus Toxoid Vaccine, Hib Combined Vaccine, and AC Combined Vaccine, with the AC-Hib combined vaccine pending production approval and the Staphylococcus aureus vaccine in clinical trials[37]. - The company has established a comprehensive quality management system covering the entire product lifecycle, including R&D, material procurement, production, quality assurance, and post-market surveillance[34]. - The company has implemented a dual-driven product development strategy focusing on "traditional vaccine upgrades and innovative vaccine development" to enhance its product pipeline[38]. - The company anticipates significant market potential for its core products, particularly the adsorbed tetanus vaccine and the recombinant Staphylococcus aureus vaccine[67]. Operational Risks and Compliance - The company has detailed various operational risks in the report, which investors should be aware of[4]. - The company has not disclosed any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated any regulatory decision-making procedures for external guarantees[7]. - The company has received regulatory inspections three times and third-party certification inspections twice during the reporting period, demonstrating compliance with quality management standards[36]. - The company has implemented various internal control systems to ensure compliance with laws and regulations, including management of information disclosure and stock trading by executives[179]. Corporate Governance and Management - The company’s board of directors was fully present at the board meeting[5]. - The company held a total of 9 board meetings during the year, with 8 conducted via a combination of in-person and communication methods[156]. - The Audit Committee convened four meetings during the reporting period, approving key financial reports and the appointment of the auditing firm for 2021[159]. - The Compensation and Assessment Committee held two meetings, approving the remuneration for directors and the stock incentive plan for 2021[160]. - The company has established a governance structure that includes a shareholders' meeting, board of directors, and supervisory board to ensure compliance with legal requirements[183]. Environmental and Social Responsibility - The company is listed as a key pollutant discharge unit, with major pollutants including chemical oxygen demand and ammonia nitrogen, all emissions have met the standards during the reporting period[185]. - The company has achieved compliance with all relevant environmental laws and has not faced any administrative penalties during the reporting period[193]. - The company has a dedicated environmental management department to oversee compliance with environmental regulations[197]. - The company has committed to enhancing its ESG practices and has integrated them into its corporate culture[183].