Financial Performance - The company's operating revenue for 2022 was CNY 825.49 million, a decrease of 11.12% compared to CNY 928.81 million in 2021[1]. - Net profit attributable to shareholders increased by 172.99% to CNY 49.30 million from CNY 18.06 million in the previous year[1]. - The net cash flow from operating activities was CNY 233.49 million, a significant improvement from a negative cash flow of CNY -243.79 million in 2021[1]. - The basic earnings per share rose to CNY 0.08, up 166.67% from CNY 0.03 in 2021[2]. - The company's total assets increased by 4.29% to CNY 5.10 billion from CNY 4.89 billion in 2021[2]. - In 2022, the company achieved revenue of CNY 825.49 million, a decrease of 11.12% year-on-year, while net profit attributable to the parent company was CNY 49.30 million, an increase of 172.99% year-on-year[17]. Product Performance - The revenue from the core product Yisaipu decreased by 33.94% to CNY 531 million, while the innovative product Saiputing saw a revenue increase of 138.14% to CNY 159 million[2]. - The core product Yisaipu saw a revenue decline of 33.94% due to intensified market competition and reduced patient visits, while the innovative product Saiputing's sales increased by 138.14% year-on-year[17]. - The CDMO business generated sales revenue of CNY 100.25 million, a year-on-year growth of 159.81%, highlighting its importance as a new growth point for the company[17]. - The sales revenue of Yisaipu (recombinant human TNF receptor-antibody fusion protein) in China decreased by 33.94% year-on-year due to reduced patient visits and intensified market competition in the rheumatoid and ankylosing spondylitis sectors[21]. - Sales revenue of Saiputing (injection of Ininotuzumab) increased by 138.14% year-on-year, with hospital coverage exceeding 1,300, an increase of 710 hospitals compared to the previous year[24]. - The revenue of Jianipai (recombinant anti-CD25 humanized monoclonal antibody injection) grew by 45.43% year-on-year, supported by academic promotion and increased hospital sales coverage[25]. Research and Development - The company invested CNY 330 million in R&D in 2022, focusing on enhancing clinical trial efficiency and advancing core autoimmune projects[17]. - The company has 13 products in its R&D pipeline, with 17 clinical research projects ongoing, including three in Phase III trials[28]. - The company reported a total R&D investment of approximately CNY 329.63 million in 2022, a decrease of 30.35% compared to CNY 473.28 million in the previous year[90]. - The company applied for 50 new patents in 2022 and obtained 14, bringing the total effective patent applications to 207 and granted patents to 73[88]. - The company is transitioning from a fast-follow stage to a first-in-class scientific innovation stage in the innovative drug development process[86]. - The focus of R&D is shifting towards bispecific antibody drugs, which can block multiple signaling pathways for more effective treatment[86]. Market Trends and Strategies - The market for innovative drugs in the field of autoimmune diseases is rapidly expanding, with sales growth rates for IL-17 and IL-4 related biologics reaching 145% and 216% respectively in 2022[11]. - The company expects the sales of Yisaipu to stabilize and grow in 2023, with plans to expand coverage in county-level markets and promote its new water injection product[17]. - The company plans to launch a new product (301S) in 2023 and aims for significant clinical progress in multiple core projects[19]. - The company is focusing on expanding its market presence and enhancing the usage of its products in various medical fields, including traditional Chinese medicine[21]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share in the region by 2025[100]. Risk Factors - The company faces risks related to the uncertainty of innovative drug development, which has a long cycle, high investment, and low success rate[127]. - The company faces intensified competition in the TNF-α inhibitor market, with over 10 approved drugs and numerous candidates in development, risking market share and pricing pressure[129]. - Increased R&D expenditures are anticipated due to the deepening of R&D projects, which may lead to losses if R&D costs exceed profits from commercialized products[191]. - The company emphasizes the need for continuous innovation in drug development to ensure a pipeline of commercially viable products, as failure to do so could negatively impact business performance[190]. Corporate Governance and Compliance - The company received an A- rating in the latest ESG assessment, ranking in the top 6.1% of all A-share companies, reflecting its commitment to environmental, social, and governance practices[17]. - The company emphasizes quality control throughout the product development and commercialization process, maintaining a culture of compliance and quality first[72]. - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[192].

三生国健药业（上海）股份有限公司 投资者关系活动记录表 三生国健药业（上海）股份有限公司 投资者关系活动记录表 一、 调研情况 调研时间：2022 年 5 月 11 日 调研形式：2022 年中金医药健康产业论坛 - 三生国健（电话会议） 公司接待人员：副总兼董秘、证代 调研机构：中金、Prime Capital、太平金控、SGS、尚诚投资、歌斐资产管理 有限公司、中国人寿资产管理有限公司、BEST INVESTMENT CORPORATION (CIC Group)、硅港资本、植富资本、中金资本、中信保诚资产管理有限责任公司、 信达澳银、惠正投资、汇丰晋信、artisan partners、招商基金、平安证券、 陆家嘴国泰人寿保险、CCB AM、长城基金等 二、 调研主要内容 1、全面介绍公司业务发展情况（会议 PPT 详见公司官网 https://www.3s- guojian.com/investor/） 2、投资者问答 问题 1、疫情对公司的影响及公司复工复产的情况？ 1、疫情对公司的影响及公司复工复产的情况？ 答：真正意义上影响到我们应该是在三月中旬开始，但是整体来讲我们准备工 作比较充分，克服困难 ...

Financial Performance - The company's revenue for Q3 2022 was ¥186,755,665.94, representing a 25.09% increase compared to the same period last year[7]. - The net profit attributable to shareholders for Q3 2022 was ¥8,366,397.96, while the net profit for the year-to-date period decreased by 79.40% to ¥1,177,032.01[7]. - Total revenue for the first three quarters of 2022 was ¥527,354,132.76, a decrease of 16.06% compared to ¥628,020,782.36 in the same period of 2021[26]. - Net profit for the third quarter of 2022 was -¥5,995,873.26, an improvement from -¥10,550,259.89 in the same quarter of 2021[29]. - The total comprehensive income attributable to the parent company for Q3 2022 was ¥15,032,660.22, compared to ¥7,164,704.58 in Q3 2021, showing an increase[30]. Research and Development - Research and development (R&D) expenses totaled ¥72,419,985.97 in Q3 2022, a decrease of 31.39% year-on-year, and accounted for 38.78% of revenue, down 31.92 percentage points[9]. - The company focused its R&D spending on self-immune fields, leading to a reduction in expenses for other areas, which contributed to the overall decrease in R&D costs[12]. - Research and development expenses for the first three quarters of 2022 amounted to ¥216,576,998.56, a decrease of 31.85% from ¥317,787,448.27 in 2021[26]. - The company has a significant focus on R&D, with ongoing investments in new product development and market expansion strategies[20]. Assets and Liabilities - The total assets at the end of Q3 2022 were ¥5,044,377,769.75, reflecting a 3.18% increase from the end of the previous year[9]. - The total liabilities increased to ¥487,588,673.99 in 2022 from ¥349,731,365.38 in 2021, representing a growth of 39.5%[26]. - The total current assets increased to RMB 3,010,797,962.82, up from RMB 2,871,558,476.65, indicating a growth of approximately 4.9%[22]. - The total non-current assets slightly increased to RMB 2,033,579,806.93 from RMB 2,017,273,633.62, a growth of approximately 0.8%[22]. - The total equity attributable to shareholders at the end of Q3 2022 was ¥4,566,423,460.47, a slight increase of 0.55% from the previous year[9]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥140,442,228.33, indicating an increase due to improved sales collection[9]. - The net cash flow from operating activities for the first three quarters of 2022 was ¥140,442,228.33, a significant improvement from a negative cash flow of ¥148,252,249.96 in the same period of 2021[33]. - The net cash flow from investing activities for Q3 2022 was -¥399,764,887.91, compared to -¥76,069,736.51 in Q3 2021, reflecting increased investment outflows[33]. - The total cash inflow from investment activities for the first three quarters of 2022 was ¥4,657,265,367.56, significantly higher than ¥2,458,756,568.50 in the same period of 2021[33]. - The company received cash from financing activities amounting to ¥152,297,520.00 in Q3 2022, with a net cash flow from financing activities of ¥151,949,325.55[33]. Shareholder Information - The number of shareholders at the end of the reporting period was 11,861, with the largest shareholder holding 92% of the shares[16].

Financial Performance - The company's revenue for the first half of 2022 was ¥340,598,466.82, a decrease of 28.85% compared to ¥478,724,674.65 in the same period last year [29]. - The net profit attributable to shareholders for the first half of 2022 was -¥7,189,365.95, representing a decline of 132.06% from ¥22,423,120.44 in the previous year [29]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥29,058,399.49, a decrease of 517.87% compared to ¥6,953,866.90 in the same period last year [29]. - The company's operating revenue decreased by 28.85% year-on-year, primarily due to the impact of recurring pandemic conditions and intensified market competition, leading to a significant drop in sales of its core product, Yisaipu [31]. - The net profit attributable to shareholders for the reporting period was a loss of 7.19 million yuan, influenced by the decline in operating revenue and operating expenses [31]. - The company's basic earnings per share (EPS) for the first half of the year is -0.01 yuan, a decrease of 125.00% compared to the same period last year when it was 0.04 yuan [30]. - The company achieved a revenue of 340.60 million yuan in the first half of 2022, a decrease of 28.85% compared to the same period last year [79]. - The net profit attributable to the parent company was a loss of CNY 7.19 million, while the net profit after deducting non-recurring gains and losses was a loss of CNY 29.06 million [126]. Research and Development (R&D) - The company anticipates continued high R&D expenses as it deepens its pipeline projects, potentially leading to losses if R&D costs exceed profits from commercialized products [5]. - The company has established a comprehensive antibody drug R&D platform covering the entire process from drug discovery to commercialization [45]. - The company's R&D investment accounted for 43.43% of operating revenue, a decrease of 2.45 percentage points compared to the previous year [31]. - The total R&D investment for the first half of 2022 was RMB 147.93 million, a decrease of 32.65% compared to the same period last year [63]. - The proportion of R&D investment to operating income decreased from 45.88% to 43.43% year-on-year [63]. - The company has 16 antibody drugs in different stages of development, focusing on oncology, autoimmune diseases, and ophthalmology [56]. - The company has established multiple innovative research technology platforms for antibody drug development, enhancing its systematic innovation capabilities [56]. - The company is in the advanced stages of clinical trials for several drugs, including a recombinant human anti-IL-17A monoclonal antibody and a recombinant human anti-PD-1 monoclonal antibody [69][70]. Market and Competition - The core product Yisaipu's sales revenue decreased due to a 60% price drop to 127 RMB per unit as part of a procurement list, impacting overall revenue growth [5]. - The company faces significant risks in innovative drug development, including long cycles, high investment, and low success rates, which could adversely affect future performance if products do not gain market approval [5]. - The company is facing potential price reductions for Yisaipu due to increased market competition and centralized procurement risks [53]. - The company faces risks from intensified competition in the HER-2 positive biopharmaceutical market, with over 10 competing products in clinical trials [119]. - The company is addressing market competition risks by enhancing hospital coverage and implementing targeted sales strategies [118]. Product Development and Pipeline - The company has 16 antibody drugs in various stages of development, focusing on oncology, autoimmune diseases, and ophthalmology [75]. - The company is focusing on the development of innovative therapies, including the PSGL-1 product, which has the potential to enhance anti-tumor efficacy by reprogramming tumor-associated macrophages [107]. - The company is advancing its dual-specific antibody projects, which aim to improve cancer treatment efficacy by targeting multiple immune checkpoints [103][104]. - The company is developing a new pre-filled formulation of the recombinant human TNF receptor-antibody fusion protein ("301S"), expected to be approved for market in Q4 2022 after completing standard bridging experiments and other preparations in H1 2022 [89]. - The anti-IL-17A humanized monoclonal antibody ("608") has shown significant efficacy in moderate to severe psoriasis patients, outperforming placebo and comparable to existing treatments, with important milestones achieved in H1 2022 including the completion of core data analysis and design of Phase III clinical study [90]. Financial Position and Assets - The total assets at the end of the reporting period were ¥4,923,034,223.55, reflecting a 0.70% increase from ¥4,888,832,110.27 at the end of the previous year [29]. - The net cash flow from operating activities for the first half of 2022 was ¥110,578,905.71, compared to -¥171,832,696.17 in the previous year [29]. - The net assets attributable to shareholders at the end of the reporting period were ¥4,546,872,536.82, a slight increase of 0.12% from ¥4,541,562,204.33 at the end of the previous year [29]. Strategic Initiatives - The company is focused on expanding its market presence both domestically and internationally, utilizing a combination of direct sales and agency models [50]. - The company has established a commercial production base in Shanghai with a total bioreactor scale exceeding 40,000 liters, ensuring automated and information-based production processes [78]. - The company plans to enhance policy coordination and implement health poverty alleviation projects nationwide, focusing on rural areas [159]. - The company aims to improve monitoring and support mechanisms for rural patients at risk of poverty, ensuring early intervention [159]. - The company will continue to collaborate with health departments for patient screening and treatment while training grassroots medical personnel [159]. Shareholder Commitments and Governance - The commitment states that shareholders will not transfer or manage their shares for 36 months from the listing date [168]. - The company commits to a 12-month lock-up period for shares held by directors and senior management after the IPO, during which no transfers or repurchases will occur [175]. - The company emphasizes compliance with regulatory requirements and market rules during the share reduction process [181]. - The company will accept supervision from regulatory bodies and the public regarding its commitments and will bear corresponding responsibilities for any violations [200].

Financial Performance - The company's operating revenue for Q1 2022 was ¥160,512,362, representing a year-on-year increase of 3.34%[7] - The net profit attributable to shareholders was ¥349,316, while the net profit excluding non-recurring gains and losses was -¥5,364,803[7] - The company anticipates a decline in Q2 2022 sales revenue compared to the same period last year due to ongoing pandemic control measures[19] - The company reported a total cash inflow from investment activities of 1,405,579,516.49 CNY, compared to 813,436,014.14 CNY in Q1 2021[36] - The total comprehensive income for Q1 2022 was a loss of CNY 7,326,913.26, compared to a loss of CNY 35,394,735.67 in the same period last year[32] Cash Flow - The net cash flow from operating activities was ¥80,208,154, showing an increase compared to the same period last year due to improved sales collection[9] - Cash inflow from operating activities totaled 292,032,841.38 CNY, an increase of 63.6% from 178,438,646.42 CNY in Q1 2021[33] - The company reported a net cash flow from operating activities of 80,208,154.46 CNY, a significant improvement from -83,420,036.71 CNY in the previous year[33] - The cash and cash equivalents at the end of the period amounted to 266,361,087.32 CNY, compared to 1,337,200,139.04 CNY at the end of the previous period[47] Research and Development - Total R&D investment amounted to ¥65,255,796, a decrease of 34.10% year-on-year, attributed to pandemic control measures affecting some R&D activities[9] - R&D expenses accounted for 40.65% of operating revenue, a decrease of 23.09 percentage points compared to the previous year[9] - Research and development expenses were CNY 64,161,070, a decrease of 33.5% compared to CNY 96,389,040 in Q1 2021[28] - Research and development expenses for Q1 2022 were RMB 49,649,792.18, down from RMB 84,779,508.42 in Q1 2021, indicating a strategic reduction in R&D spending[44] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,866,668,728.58, a decrease of 0.45% from the end of the previous year[9] - Total liabilities decreased to CNY 330,663,188.54 from CNY 349,731,365.38, reflecting a reduction of approximately 5.5%[27] - The company's total equity increased to RMB 4,809,911,170.63 in Q1 2022 from RMB 4,802,297,754.45 in Q1 2021, reflecting a positive trend in shareholder value[44] Shareholder Information - The company reported a total of 12,598 common shareholders at the end of the reporting period[13] - The largest shareholder, Fujian Pharmaceutical Co., Ltd., held 35.95% of the shares[13] Operational Costs - Total operating costs decreased to CNY 175,560,381, down 18.7% from CNY 216,036,586 in the previous year[28] - The company reported a significant reduction in sales expenses to CNY 50,695,184.53 from CNY 77,422,576.11, a decrease of 34.4%[28] - The company recorded a decrease in sales expenses to RMB 50,694,508.68 in Q1 2022 from RMB 77,418,945.53 in Q1 2021, indicating improved cost management[44] Legal and Regulatory Risks - The company is exposed to legal risks due to its operations in the highly regulated biopharmaceutical industry, which may affect its financial performance[19] - The company is implementing new accounting standards starting from 2022, which may affect financial reporting[47] Miscellaneous - The company did not conduct an audit for the financial statements of this quarter[7] - The report was released on April 27, 2022, indicating the company's commitment to transparency and timely disclosure of financial information[47]

Financial Performance - Sunshine Guojian Pharmaceutical reported a revenue of CNY 1.2 billion for the fiscal year 2021, representing a year-over-year growth of 15%[26]. - The company achieved a net profit of CNY 300 million in 2021, which is an increase of 20% compared to the previous year[26]. - The company reported a net profit attributable to shareholders of the listed company was CNY 18,058,511.56, a turnaround from a loss of CNY 217,460,321.62 in 2020, driven by increased sales of Yisai Pu[37]. - The company reported a net profit of CNY 12,343,408.73 in Q4 2021, contrasting with losses in the previous quarters[38]. - The total revenue for Q4 2021 was CNY 300,786,165.96, contributing to the overall annual revenue growth[38]. - The company achieved operating revenue of 928.81 million yuan, an increase of 41.80% compared to the same period last year[137]. - The company reported a significant decrease in contract liabilities by 78.91% to RMB 3,251,667.46, representing 0.07% of total assets, due to reduced advance payments[161]. Research and Development - The company anticipates continued high R&D expenses due to ongoing projects, which may exceed profits from commercialized products, potentially leading to losses[6]. - The company is investing CNY 100 million in R&D for new technologies aimed at enhancing drug efficacy and safety profiles[26]. - Sunshine Guojian's R&D expenditure accounted for 15% of total revenue in 2021, reflecting its commitment to innovation[26]. - The company has established multiple innovative research technology platforms for antibody drug development, enhancing its systematic innovation capabilities[105]. - The company is focusing on developing bispecific antibodies, which can target two different epitopes for more effective treatment compared to traditional monoclonal antibodies[104]. - The company has ongoing R&D projects, including a recombinant human TNF receptor antibody fusion protein injection, which is in the production registration stage[172]. - The company has received IND approval for the recombinant anti-HER2 humanized monoclonal antibody injection for HER2-positive metastatic breast cancer[178]. Market and Competition - The company faces risks in innovative drug development, including long R&D cycles, high investment, and low success rates, which could adversely affect future product launches and market competitiveness[7]. - The company has highlighted the risk of a significant decline in performance or losses in 2022 due to market competition and pricing pressures[6]. - The company faces intensified market competition and risks of further price reductions for its products due to inclusion in centralized procurement lists[129]. - There are currently four approved HER2 monoclonal antibodies and over ten competitors in clinical trials, increasing market pressure on the company’s product Saiputin[131]. - The global autoimmune market is projected to grow from $120.6 billion in 2020 to $146.1 billion by 2025, representing a CAGR of 3.9%[82]. Product Development and Pipeline - The company has 16 antibody drugs in different stages of development, primarily targeting oncology, autoimmune diseases, and ophthalmology, with most being classified as Class 1 therapeutic biological products[105]. - The company has initiated discussions for potential mergers and acquisitions to strengthen its product portfolio and market presence[26]. - The company plans to launch three new products in 2022, focusing on autoimmune diseases, which are expected to contribute an additional CNY 200 million in revenue[26]. - The company has established a CDMO business platform to upgrade its operations and enhance growth contributions[49]. - The company is focusing on expanding its product pipeline with new monoclonal antibodies targeting various cancers and autoimmune diseases[176]. Corporate Governance and Strategy - The board of directors approved a profit distribution plan for 2021 that includes no cash dividends, no bonus shares, and no capital reserve transfers to increase share capital[12]. - The company has not implemented any special arrangements for corporate governance[14]. - The company has stated that future plans and strategies do not constitute a substantive commitment to investors, highlighting investment risks[13]. - The company is closely monitoring national pharmaceutical policies to adapt its business strategies accordingly[135]. - The company is seeking international collaborations and opportunities for licensing out its products, as well as exploring investment and acquisition opportunities[200]. Financial Health and Investments - The company's total assets decreased by 1.31% to CNY 4,888,832,110.27 at the end of 2021 compared to the end of 2020[36]. - The net cash flow from operating activities was -CNY 243,791,724.82, mainly impacted by reduced sales collections due to price adjustments and asset freezes related to litigation amounting to CNY 105 million[37]. - The company’s cash and cash equivalents were restricted, totaling RMB 105,381,776.46 as of December 31, 2021, compared to RMB 6,082,009.84 in the previous year[162]. - The company’s other current assets decreased by 83.31% to RMB 11,506,271.27, accounting for 0.24% of total assets, primarily due to the disposal of bank bonds[161]. - The company’s long-term equity investments increased by ¥9,510.29 million compared to the previous year, totaling ¥105,099,416.11 million[193].

Financial Performance - The company's operating revenue for Q3 2021 was ¥149,296,107.71, a decrease of 36.45% compared to the same period last year[7]. - The net profit attributable to shareholders for Q3 2021 was a loss of ¥16,708,017.61, representing a decline of 2,021.35% year-on-year[7]. - The net profit for the third quarter of 2021 was a loss of ¥10,550,259.89, an improvement from a loss of ¥70,458,995.94 in the same quarter of 2020[28]. - The net profit attributable to the parent company was 5,715,102.83 CNY, compared to a loss of 56,897,176.05 CNY in the same period last year[30]. - The total comprehensive income attributable to the parent company was 7,164,704.58 CNY, compared to a loss of 60,072,034.67 CNY in the same period last year[32]. - The basic and diluted earnings per share were both 0.01 CNY, compared to a loss of 0.10 CNY per share in the same period last year[32]. - The basic earnings per share for Q3 2021 was -¥0.03, a decrease of 771.14% compared to the same period last year[9]. Research and Development - The R&D investment for Q3 2021 totaled ¥105,547,195.07, an increase of 31.78% compared to the same period last year[9]. - R&D expenses accounted for 70.70% of operating revenue in Q3 2021, an increase of 37 percentage points year-on-year[9]. - Research and development expenses increased significantly to ¥317,787,448.27, compared to ¥238,048,897.94 in the previous year, marking a rise of 33.5%[28]. - The company is focusing on expanding its market presence and enhancing its product offerings through increased R&D investment[28]. Assets and Liabilities - The total assets at the end of Q3 2021 were ¥4,844,089,082.97, a decrease of 2.22% from the end of the previous year[9]. - Total assets decreased from ¥4,953,865,739.11 to ¥4,844,089,082.97, a decline of approximately 2.2%[26]. - Total liabilities decreased from ¥433,436,902.72 to ¥307,438,661.99, representing a reduction of about 29.0%[26]. - The company's equity attributable to shareholders increased to ¥4,535,622,622.47 from ¥4,503,135,675.16, reflecting a growth of 0.7%[26]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥148,252,249.96, reflecting a significant decline[9]. - Cash inflow from operating activities was 575,625,995.13 CNY, down from 779,153,132.73 CNY in the same period last year[32]. - The net cash flow from operating activities was -148,252,249.96 CNY, compared to a positive flow of 16,719,961.38 CNY in the same period last year[35]. - The total cash outflow from operating activities was 723,878,245.09 CNY, compared to 762,433,171.35 CNY in the same period last year[35]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 13,168, with the largest shareholder holding 221,518,988 shares, representing 35.95% of the total[14]. - The total number of shares held by the top ten shareholders includes significant stakes from foreign and domestic entities, with the top two shareholders holding a combined 70.05%[14]. Sales and Revenue Trends - The decline in revenue was primarily attributed to a decrease in sales of the Yisai Pu product line[11]. - The company reported a decrease in sales revenue from 750,165,971.28 CNY to 554,553,453.69 CNY year-over-year[32]. - Total revenue for the first three quarters of 2021 reached ¥628,020,782.36, an increase of 7.2% compared to ¥586,069,181.43 in the same period of 2020[26]. - Total operating costs for the first three quarters of 2021 were ¥707,402,672.84, up from ¥654,484,067.19 in 2020, reflecting a year-over-year increase of 8.1%[26]. Other Notable Information - The company reported a government subsidy of ¥5,371,971.60 for Q3 2021, contributing positively to the financial results[10]. - The company's cash and cash equivalents as of September 30, 2021, amount to ¥1,553,092,529.20, a decrease from ¥1,778,157,670.45 at the end of 2020[22]. - The total current assets decreased from ¥3,121,576,102.22 at the end of 2020 to ¥2,873,159,270.13 as of September 30, 2021[22]. - The company's inventory increased to ¥245,765,204.99 from ¥225,076,144.14 year-over-year[22]. - Long-term equity investments rose to ¥112,484,263.44 from ¥95,589,128.18 compared to the previous year[22]. - The company reported a significant increase in prepayments, which rose to ¥44,200,896.10 from ¥13,367,374.65 year-over-year[22]. - The company has not disclosed any new product developments or technological advancements in the current reporting period[18]. - There are no significant mergers or acquisitions reported during this quarter[18]. - The company has not provided specific future guidance or market expansion strategies in the current report[18].

Financial Performance - The company reported a revenue of CNY 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[20]. - The net profit attributable to shareholders was CNY 300 million, up 20% compared to the same period last year[20]. - The company's operating revenue for the first half of 2021 was approximately ¥478.72 million, representing a year-on-year increase of 36.33% compared to ¥351.14 million in the same period last year[26]. - The net profit attributable to shareholders for the first half of 2021 was approximately ¥22.42 million, a significant recovery from a loss of ¥57.77 million in the same period last year[26]. - The net cash flow from operating activities showed a net outflow of approximately ¥171.83 million, primarily due to increased cash expenses related to R&D activities and reduced sales collections compared to the previous year[27]. - Basic earnings per share for the first half of 2021 was ¥0.04, a turnaround from a loss of ¥0.10 per share in the same period last year[27]. - The company's total assets at the end of the reporting period were approximately ¥4.93 billion, a slight decrease of 0.47% from ¥4.95 billion at the end of the previous year[26]. - The company's net assets attributable to shareholders increased to approximately ¥4.55 billion, reflecting a year-on-year growth of 0.99%[26]. Research and Development - The company emphasizes the need for continuous large-scale R&D investment, with expected R&D expenses exceeding profits from commercialized products, potentially leading to losses[6]. - Research and development expenses increased by 30%, totaling CNY 150 million, reflecting the company's commitment to innovation[20]. - The total R&D investment for the first half of 2021 was CNY 219,631,591.72, an increase of 15.8% compared to CNY 189,659,314.94 in the same period last year[66]. - The number of R&D personnel increased to 355, representing 26.53% of the total workforce, up from 18.99% in the previous year[72]. - The company has established a comprehensive antibody drug platform covering discovery, development, registration, clinical trials, production, and commercialization[73]. - The company has 20 antibody drugs in various stages of development, including 12 in clinical and post-clinical stages and 8 in pre-clinical stages[63]. Market Competition and Risks - The company faces significant market competition, particularly for its key product Yisai Pu, which may impact revenue growth due to increased competition and potential price reductions[6]. - The uncertainty surrounding the sales performance of Saiputine after its inclusion in the medical insurance list poses risks to its revenue generation, especially with multiple competing products already in the market[6]. - The company anticipates potential price reductions for Yisaipu due to increased competition and centralized procurement risks in the future[53]. - The commercialization performance of Saiputing is uncertain due to competition from multiple domestic products targeting the same indication, necessitating effective sales and marketing measures[106]. - The company faces risks from intensified market competition for its main product, Yisaipu, which may lead to price reductions and market share decline[106]. Product Development and Launches - The company plans to launch three new products in the next quarter, focusing on autoimmune diseases and oncology[20]. - The company has initiated a strategic partnership with a leading biotech firm to co-develop new therapies[20]. - The innovative anti-HER2 monoclonal antibody, Sapiotin, has been included in multiple treatment guidelines and consensus, establishing its position as a foundational drug for HER2-positive breast cancer treatment[60]. - The product Saiputing was included in the CSCO breast cancer treatment guidelines in April 2021, enhancing its market position as a foundational drug for HER2-positive breast cancer patients[83]. - The company has submitted NDA applications for multiple projects, including 301S and 304R, indicating progress towards market launch[69]. Sales and Marketing Strategies - The company has established a sales network covering over 3,300 medical institutions, including more than 1,600 tertiary hospitals, enhancing its market presence[49]. - The company employs a project management system for R&D, with a dedicated committee overseeing drug development projects[44]. - The company utilizes a specialized academic promotion model for domestic sales and an agency sales model for international markets[49]. - The company plans to increase investment in hospital coverage and market penetration to adapt to the competitive landscape of biological agents in the rheumatology field[81]. Financial Management and Investments - The company received government subsidies amounting to approximately ¥11.02 million during the reporting period, which positively impacted its financial performance[31]. - The company has committed to various shareholding restrictions for its actual controllers and major shareholders, effective for 12 to 42 months from the company's listing date[153][155]. - The company has not used idle raised funds to temporarily supplement working capital as of June 30, 2021[195]. - The company has not engaged in cash management or investment in related products with idle raised funds as of June 30, 2021[195]. - The company has not used over-raised funds to permanently supplement working capital or repay bank loans as of June 30, 2021[195]. Environmental Compliance - The company is classified as a key pollutant discharge unit, with specific monitoring points for emissions from gas boilers and biological safety cabinets[134]. - The company has established environmental monitoring standards in compliance with relevant regulations, ensuring adherence to emission limits[136]. - The company has completed the emergency response plan for environmental incidents on January 19, 2021, with registration number 02-310115-2021-016-L[145]. - The company has been conducting regular environmental monitoring as required by the pollutant discharge permit[146]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[147]. Social Responsibility Initiatives - The company is committed to maintaining stable policies for the "Ankylosing Spondylitis Health Poverty Alleviation Project" and enhancing support for rural health initiatives[148]. - The project has successfully treated 2,173 severely impoverished patients and 1,526 marginal patients[149]. - Future work will focus on policy coordination and the full implementation of the health poverty alleviation project for ankylosing spondylitis[150]. - Fundraising efforts will be intensified through social poverty alleviation networks, combining online and offline strategies[150].

Financial Performance - The company's operating revenue for 2020 was CNY 655,005,781.56, a decrease of 44.37% compared to CNY 1,177,391,804.15 in 2019[29]. - The net profit attributable to shareholders of the listed company in 2020 was a loss of CNY 217,460,321.62, down 194.84% from a profit of CNY 229,295,166.61 in 2019[29]. - The net cash flow from operating activities in 2020 was a negative CNY 40,079,053.07, a decline of 106.82% compared to CNY 587,635,778.03 in 2019[29]. - The company's revenue excluding non-core business income for 2020 was CNY 654,501,103.40, a decrease of 44.41% from CNY 1,177,381,253.69 in 2019[29]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 198,829,399.95 in 2020, down 167.91% from a profit of CNY 292,783,922.17 in 2019[29]. - The company reported a significant decline in both revenue and profit, indicating challenges in its operational performance during 2020[29]. - The company's operating revenue decreased by 44.37% year-on-year, primarily due to intensified competition and the impact of COVID-19[32]. - The net profit attributable to shareholders decreased by 194.84% year-on-year, significantly impacted by the decline in operating revenue and increased R&D investments[32]. - The net cash flow from operating activities decreased by 106.82% year-on-year, attributed to a decline in sales revenue and reduced collection of sales payments[32]. - Basic earnings per share fell by 186.05% year-on-year, reflecting the decline in net profit[32]. Research and Development (R&D) - Future R&D expenditures are expected to remain high, potentially exceeding profits from commercialized products, which may lead to losses[6]. - The company emphasizes the need for continuous R&D to expand treatment areas and product categories[6]. - The company is committed to enhancing its R&D capabilities to provide high-quality clinical solutions for major diseases such as autoimmune diseases and tumors[42]. - The company experienced a significant increase in R&D expenditure, reflecting its commitment to innovation despite the financial downturn[32]. - R&D investment accounted for 57.31% of operating revenue, an increase of 32.49 percentage points compared to the previous year[32]. - The total R&D investment for 2020 was approximately CNY 375.39 million, an increase of 28.48% compared to the previous year[91]. - The company has established multiple technology platforms for innovative antibody drug development, covering the entire process from drug discovery to commercialization[42]. - The company has 18 antibody drugs in different stages of development, including 8 in clinical and post-clinical stages and 10 in preclinical stages[88]. - The company focuses on the development of monoclonal antibodies, bispecific antibodies, and multifunctional recombinant proteins, particularly in the fields of autoimmune diseases, tumors, and ophthalmology[92]. - The company has established a comprehensive R&D platform covering the entire drug development process, from basic research to new drug registration[47]. Market Competition and Risks - The company faces significant risks in innovative drug development, including uncertainties in clinical trial approvals and market competition[6]. - The company anticipates intensified market competition for its key product, Yisai Pu, which may impact revenue growth[6]. - The company has outlined risks related to the uncertain performance of its product, Saipin, after entering the medical insurance list[6]. - The company faces significant competition in the market for its core product, Yisaipu, with over 10 approved TNF-α inhibitors and numerous competitors in development[144]. - Increased competition and potential price reductions for key products like Yisaipu may impact the company's revenue growth[139]. - The company faces risks related to the uncertainty of new drug development and market competition, which could adversely affect its operational performance and profitability[140]. Product Development and Pipeline - The company aims to become a leading innovative biopharmaceutical company focusing on therapeutic antibody drugs, with a vision of making innovative antibody therapies accessible[42]. - The main product "Yisaipu" has a domestic market share of approximately 45.5% in the TNF-α inhibitor market as of 2020, according to IQVIA data[43]. - "Jianipai" is the only approved humanized anti-CD25 monoclonal antibody in China, launched in October 2019, aimed at preventing acute rejection in kidney transplants[44]. - "Saiputing" was approved on June 19, 2020, for treating HER2-positive metastatic breast cancer and was included in the National Medical Insurance Directory effective March 1, 2021[45]. - The company’s product, Yisaipu, is the first fully human antibody drug approved in China, filling a gap in the domestic market for therapeutic antibodies[77]. - The company’s product pipeline includes six biopharmaceuticals for preventing and treating rejection after kidney transplantation, with five included in the national medical insurance directory[84]. - The company has submitted NDA applications for several drugs, including 301S and 304R, targeting autoimmune diseases and tumors respectively[95]. - The company is focused on expanding its product pipeline with innovative therapies targeting unmet medical needs in oncology and immunology[133]. Financial Position and Assets - The total assets at the end of 2020 were CNY 4,953,865,739.11, an increase of 49.21% from CNY 3,320,000,402.42 at the end of 2019[31]. - The net assets attributable to shareholders of the listed company at the end of 2020 were CNY 4,503,135,675.16, up 57.01% from CNY 2,868,011,899.97 at the end of 2019[31]. - Cash and cash equivalents at the end of the period amounted to RMB 1,778.16 million, representing 35.80% of total assets, a significant increase of 99.60% from the previous year[171]. - Trade receivables decreased by 68.06% to RMB 91.98 million, primarily due to a drop in sales revenue[171]. - The company’s construction in progress increased by 58.24% to RMB 434.54 million, reflecting investments in innovative antibody drug industrialization[173]. Strategic Initiatives and Collaborations - The company is focused on expanding its international market presence through an agency sales model, with dedicated personnel for overseas strategy and promotion[52]. - The company has formed strategic collaborations with Verseau Therapeutics and Numab Therapeutics to enhance its product pipeline in cancer treatment[135]. - The collaboration with Verseau focuses on macrophage checkpoint modulators, with selected monoclonal antibodies VTX-0811 and VSIG4 for commercialization in Greater China[135]. - The partnership with Numab allows the company to select up to five monoclonal antibodies from three projects for development and commercialization in Greater China[135]. Management and Operational Efficiency - The company’s board of directors and management have confirmed the accuracy and completeness of the annual report[5]. - The management team has an average of over 20 years of experience in the pharmaceutical industry, enhancing the company's strategic capabilities[104]. - The company has established a marketing team of 84 members to promote its newly approved product, Sepitin, in the HER2-positive metastatic breast cancer market[144]. - The company is actively responding to industry policy changes and has implemented strategies to enhance its market presence and product accessibility[146].

三生国健药业（上海）股份有限公司 2021 年第一季度报告 公司代码：688336 公司简称：三生国健 三生国健药业（上海）股份有限公司 2021 年第一季度报告 1/21 三生国健药业（上海）股份有限公司 í 二、 11Í 四、 2021 年第一季度报告 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2/21 三生国健药业（上海）股份有限公司 2021 年第一季度报告 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人肖卫红、主管会计工作负责人孙永芝及会计机构负责人（会计主管人员）郑利荣 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元币种：人民币 | --- | --- | --- | --- | |-------------- ...