Financial Performance - The company's operating revenue for Q1 2022 was RMB 1,254,856,278.10, representing a year-on-year increase of 61.57%[4] - The net profit attributable to shareholders for Q1 2022 was RMB 199,750,879.22, reflecting a growth of 31.07% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 182,886,832.30, with a year-on-year increase of 31.21%[5] - The basic earnings per share for Q1 2022 was RMB 0.42, which is an increase of 31.25% year-on-year[5] - Total operating revenue for Q1 2022 reached ¥1,254,856,278.10, a significant increase of 61.5% compared to ¥776,684,991.71 in Q1 2021[19] - Net profit for Q1 2022 was ¥197,645,537.46, representing a 29.9% increase from ¥152,170,016.46 in Q1 2021[20] - Basic earnings per share for Q1 2022 were ¥0.42, compared to ¥0.32 in Q1 2021, reflecting a 31.3% growth[21] - The company reported a total comprehensive income attributable to the parent company of ¥195,064,274.30 in Q1 2022, compared to ¥147,045,720.16 in Q1 2021[21] Expenses and Costs - Research and development expenses totaled RMB 81,481,354.61, marking a significant increase of 109.24% compared to the previous year[5] - Total operating costs for Q1 2022 were ¥1,023,281,689.96, up 72.8% from ¥592,233,529.05 in Q1 2021[19] - Sales expenses for Q1 2022 were ¥566,195,184.91, an increase of 67.4% compared to ¥338,388,391.76 in Q1 2021[19] - Research and development expenses for Q1 2022 totaled ¥81,481,354.61, up 108.9% from ¥38,941,793.02 in Q1 2021[19] Assets and Liabilities - The total assets at the end of Q1 2022 were RMB 7,414,325,260.54, a decrease of 1.19% from the end of the previous year[5] - Current assets totaled ¥3,564,656,223.73, down from ¥3,984,152,562.74 in the previous year[16] - Cash and cash equivalents were reported at ¥1,794,438,949.42, compared to ¥1,806,636,230.61 in the previous year[15] - Inventory increased to ¥810,908,515.48 from ¥709,132,554.50 year-over-year[16] - Total liabilities decreased to ¥1,402,519,214.76 from ¥1,801,280,273.07[17] - The company's equity attributable to shareholders rose to ¥6,012,630,194.31 from ¥5,699,012,395.15[17] - The company's retained earnings as of March 31, 2022, were ¥1,619,716,502.92, up from ¥1,419,965,623.70[17] Cash Flow - The net cash flow from operating activities was negative at RMB -217,169,901.68, indicating a significant change from a positive cash flow of RMB 24,000,000 in the same period last year[5] - Cash flow from operating activities in Q1 2022 was ¥1,424,663,931.36, an increase from ¥853,859,856.92 in Q1 2021[22] - The net cash flow from operating activities was -$217,169,901.68, a decrease from $23,706,569.22 in the previous year[23] - Total cash outflow from operating activities amounted to $1,641,833,833.04, compared to $830,153,287.70 in the same period last year[23] - The net cash flow from investing activities was $181,874,757.66, an improvement from -$282,307,322.37 year-over-year[23] - Cash inflow from financing activities totaled $84,706,642.83, down from $176,940,000.00 in the previous year[24] - The ending balance of cash and cash equivalents was $1,579,318,450.01, a decrease from $1,302,408,536.14 year-over-year[24] - The company reported a significant increase in cash paid to employees, totaling $354,860,218.94, compared to $205,124,538.00 in the previous year[23] - Cash paid for taxes was $237,524,525.95, up from $101,585,373.36 in the same period last year[23] - Cash outflow related to investment activities was $598,977,832.10, compared to $2,339,005,496.80 in the previous year[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 38,153[9] - The number of shares held by the top ten unrestricted shareholders includes JPMorgan Chase Bank with 8,116,913 shares and Hong Kong Central Clearing Limited with 4,361,085 shares[12] Other Financial Metrics - The company had a weighted average return on equity of 3.44%, which increased by 0.45 percentage points year-on-year[5] - The company experienced a decrease in credit impairment losses, reporting -¥6,391,541.99 in Q1 2022 compared to -¥12,932,532.52 in Q1 2021[20] - The total assets and owners' equity amounted to ¥7,414,325,260.54 and ¥6,011,806,045.78 respectively in Q1 2022[18] - The company experienced a negative impact of -$5,306,186.70 from foreign exchange fluctuations on cash and cash equivalents[24]

Financial Performance - In 2021, the company achieved a net profit attributable to shareholders of RMB 782,334,573.48, while the parent company reported a net profit of RMB 997,745,285.98[5]. - The proposed cash dividend for 2021 is RMB 4.90 per 10 shares (including tax), totaling an estimated cash dividend of RMB 235,200,000.00, which accounts for 30.06% of the net profit attributable to shareholders[5]. - The company's operating revenue for 2021 reached CNY 4.95 billion, representing an increase of 87.93% compared to 2020[22]. - Net profit attributable to shareholders was CNY 782.33 million, a year-on-year growth of 21.13%[22]. - The net cash flow from operating activities increased by 80.97% to CNY 1.28 billion, driven by timely collection of receivables[24]. - Total assets grew by 31.26% to CNY 7.50 billion, influenced by increased sales and inventory levels[24]. - The company achieved a basic earnings per share of CNY 1.63, up 20.74% from the previous year[23]. - The overall gross margin for the raw material business was 72.19%, with the pharmaceutical-grade hyaluronic acid (HA) maintaining a high gross margin of 87%[40]. - The gross profit margin for the company was 78.06%, with a slight decrease of 3.34 percentage points compared to the previous year[180]. Research and Development - Research and development expenses accounted for 5.75% of operating revenue, an increase from 5.36% in 2020[23]. - Research and development investment exceeded 280 million RMB, a year-on-year increase of over 100%, with 571 R&D personnel and 239 ongoing projects[36]. - The company invested 28,433.80 million yuan in R&D during the reporting period, a year-on-year increase of 101.43%[69]. - The number of R&D personnel increased to 571, reflecting a growth of 51.46% compared to the end of 2020[69]. - The company conducted 239 R&D projects in various medical and functional food sectors, a 94.31% increase from the previous year[68]. - The company has applied for a total of 525 patents, including 422 invention patents, with 166 patents granted as of December 31, 2021[112]. - The company has received multiple awards for its food-grade hyaluronic acid products, including the "Innovation Technology Award" and "Product Innovation Award" in 2021[75]. - The company has established strategic partnerships with several institutions, including Shandong University and the Chinese Academy of Sciences, to enhance research and development in synthetic biology and biomanufacturing[121]. Product Development and Innovation - The company launched approximately 309 new skincare products in 2021, an increase of about 80 compared to the previous year, and obtained 8 new special use cosmetic administrative licenses[57]. - The company is focusing on expanding its international market presence and enhancing local management for its raw material business[42]. - The company launched the "Yuling Twin Needle" product in May 2021, achieving sales of over 250,000 units by the end of the year and establishing partnerships with over 1,000 medical beauty institutions[48]. - The company has developed a series of functional skincare products targeting sensitive skin and acne, achieving breakthroughs in special efficacy products such as sun protection and whitening, with 13 special cosmetic registration certificates obtained[106]. - The company is advancing the industrialization of a new product, PI-002, with a trial production output of 1,200 units and a revenue of $132.90 million, maintaining its leadership in the domestic market for cosmetic raw materials[139]. - The company has launched a new food-grade hyaluronic acid, which has passed safety tests and established an international standard for food safety and quality control, marking a new era for domestic hyaluronic acid in food applications[122]. Market and Sales Performance - The company achieved a revenue of 4.95 billion RMB in 2021, representing a year-on-year growth of 87.93%[176]. - Functional skincare products generated revenue of 3.32 billion RMB, with a growth rate of 146.57% year-on-year[181]. - The overseas sales revenue accounted for 10.70% of total revenue in 2021, with potential risks from global economic downturns and trade tensions[174]. - The company has been increasing its marketing efforts on e-commerce platforms, leading to significant growth in direct sales revenue[181]. - The top five customers contributed CNY 363.35 million, representing 7.34% of total annual sales, with new customers entering the top five list[191]. - The company's sales expenses amounted to RMB 243,617.46 million, representing a 121.62% increase compared to 2020, primarily due to an increase in sales personnel and promotional investments on e-commerce platforms like Tmall and Douyin[198]. Risks and Challenges - The company has not experienced any significant risks that could materially affect its operations during the reporting period[4]. - The company faces risks related to the loss of core technical personnel, which is crucial for maintaining its competitive edge and stability in R&D and production[166]. - There is a risk of new product market promotion failure if the company fails to adapt its marketing strategies to meet market demands[168]. - The company is exposed to risks related to the registration and regulatory compliance of its products in various countries, which may affect market entry[165]. - The company’s net profit margin may decline due to increased strategic investments in brand building and talent acquisition, despite efforts to control expenses[170]. Strategic Initiatives - The company plans to continue expanding its market presence and product offerings in the coming years[24]. - The company aims to deepen its "facial rejuvenation" product system and enhance its market share in the medical aesthetics sector[47]. - The company is actively pursuing brand differentiation and positioning, enhancing market recognition and user engagement across its various sub-brands[37]. - The company has implemented its first equity incentive plan, incentivizing a total of 339 executives and key employees[39]. - The company is focusing on the development of second-generation products based on micro-crosslinking technology, which are set to enter clinical trials soon[48].

Financial Performance - Operating income surged by 111.12% to CNY 776,684,991.71 year-on-year[4] - Net profit attributable to shareholders rose by 41.05% to CNY 152,396,070.06 compared to the same period last year[4] - Basic earnings per share increased by 39.13% to CNY 0.32 compared to the previous year[4] - The diluted earnings per share also increased by 39.13% to CNY 0.32 compared to the same period last year[4] - The company reported a total comprehensive income of ¥146,780,617.07 for Q1 2021, compared to ¥106,631,501.44 in Q1 2020, an increase of 38%[23] - Net profit for Q1 2021 was ¥152,170,016.46, compared to ¥107,857,564.75 in Q1 2020, representing an increase of 41%[23] - Net profit for Q1 2021 reached RMB 190,018,097.99, compared to RMB 96,130,237.23 in Q1 2020, reflecting a 97.5% year-over-year growth[26] Assets and Liabilities - Total assets increased by 5.86% to CNY 6,052,083,651.60 compared to the end of the previous year[4] - Total current assets as of March 31, 2021, amounted to ¥3,611,908,426.03, a slight decrease from ¥3,663,573,835.42 in the previous year[16] - The company's total liabilities amounted to ¥876,111,216.19, up from ¥698,757,707.99, indicating an increase of approximately 25.5%[18] - Current liabilities decreased to ¥508,513,690.23 from ¥552,869,788.62, a decline of about 8.0%[18] - Total liabilities increased to ¥408,107,485.96 in Q1 2021 from ¥234,851,115.61 in Q1 2020, indicating a growth of 74%[21] - Total liabilities amounted to 698,757,707.99 RMB, a decrease of 65,272,309.62 RMB compared to the previous period[33] Cash Flow - Net cash flow from operating activities decreased by 56.16% to CNY 23,706,569.22 year-on-year[4] - The company reported a net cash flow from operating activities of RMB 23.71 million, down 56.16% from RMB 54.08 million in Q1 2020[12] - Cash flow from operating activities generated RMB 23,706,569.22 in Q1 2021, down from RMB 54,075,706.53 in Q1 2020[28] - The net cash flow from operating activities for Q1 2021 was -53,336,051.07 RMB, compared to 51,970,241.89 RMB in Q1 2020, indicating a significant decline[30] Research and Development - R&D expenditure as a percentage of operating income decreased by 2.84 percentage points to 5.01%[4] - Research and development expenses rose by 34.78% to RMB 38.94 million, driven by an increase in R&D personnel and related costs[12] - Research and development expenses for Q1 2021 were ¥38,941,793.02, compared to ¥28,891,796.36 in Q1 2020, marking a 35% increase[22] Shareholder Information - The total number of shareholders reached 26,024 by the end of the reporting period[7] - The largest shareholder, Huaxi Xinyu Investment Co., Ltd., holds 59.06% of the shares[7] Government Subsidies - The company reported a government subsidy of CNY 6,225,633.79 included in the current profit and loss[5] Operating Costs - The operating cost for Q1 2021 was RMB 165.47 million, reflecting a 96.37% increase from RMB 84.27 million in the same period last year[11] - Total operating costs for Q1 2021 were ¥592,233,529.05, up from ¥243,185,850.60 in Q1 2020, reflecting a 144% increase[22] - The total operating costs for Q1 2021 were RMB 156,759,746.43, up from RMB 91,696,361.58 in Q1 2020, indicating a 70.9% increase[25] Investments - The company completed the acquisition of 100% equity in Fost Biotech for RMB 290 million, with the share transfer registration completed on September 18, 2020[13] - The company’s investment income increased by 62.89% to RMB 10.02 million, attributed to returns from idle fund management[12] Employee Compensation - The company reported a significant increase in employee compensation payments, totaling 80,436,804.57 RMB in Q1 2021, compared to 49,621,529.75 RMB in Q1 2020[30]

Financial Performance - In 2020, the company achieved a net profit attributable to shareholders of RMB 645,839,219.95, with a parent company net profit of RMB 633,338,532.60[6]. - The proposed cash dividend for 2020 is RMB 4.10 per 10 shares, totaling an expected distribution of RMB 196,800,000.00, which accounts for 30.47% of the net profit attributable to shareholders[6]. - The company's operating revenue for 2020 was approximately ¥2.63 billion, representing a year-on-year increase of 39.63% compared to ¥1.89 billion in 2019[23]. - Net profit attributable to shareholders for 2020 was approximately ¥645.84 million, a 10.29% increase from ¥585.61 million in 2019[23]. - The cash flow from operating activities for 2020 was approximately ¥705.12 million, showing a significant increase of 93.24% from ¥364.89 million in 2019[23]. - The company's total assets at the end of 2020 were approximately ¥5.72 billion, a 14.99% increase from ¥4.97 billion at the end of 2019[23]. - The net assets attributable to shareholders at the end of 2020 were approximately ¥5.02 billion, a 10.32% increase from ¥4.55 billion at the end of 2019[23]. - The company reported a total of 500 million yuan in revenue from medical hyaluronic acid, with a growth of 119.51% compared to the previous year, establishing a leading position in the domestic market[75]. - The sodium hyaluronate injection (Hailida) generated 800 million yuan in revenue, reflecting a 139.98% increase, marking it as an advanced product in orthopedics[75]. - The HAFG-P product achieved 1 billion yuan in revenue, with a growth rate of 214.24%, positioning it as an internationally leading product in medical aesthetics[75]. - The company achieved a revenue of 2.633 billion RMB, a year-on-year increase of 39.63%, and a net profit attributable to shareholders of 646 million RMB, up 10.29% year-on-year[97]. Research and Development - R&D investment totaled RMB 141.16 million, a 50.35% increase from RMB 93.89 million in the previous year, representing 5.36% of operating revenue[71][72]. - The company is conducting 123 R&D projects focused on green manufacturing of bioactive substances and applications in various medical and cosmetic fields[73]. - The company has applied for 341 patents as of December 31, 2020, with 85 patents authorized, including 45 Chinese invention patents and 4 foreign invention patents[61]. - The company has established four independent R&D platforms, focusing on microbial fermentation and cross-linking technologies, which are crucial for production efficiency and product quality[49]. - The company has over 120 ongoing R&D projects, focusing on core technologies and new product development in the hyaluronic acid field[179]. - The company’s R&D personnel count reached 377, with expertise across various interdisciplinary fields, supporting its innovation strategy[178]. - The company has established two major R&D centers in Jinan and Shanghai, enhancing its capabilities in fermentation, drug formulation, and biomedical engineering[178]. - The company is actively pursuing research and development initiatives to enhance the performance of its existing product portfolio and explore new market opportunities[171]. Product Development and Innovation - The company launched two new cosmetic-grade raw materials: ultra-high molecular weight sodium polyglutamate and superactive ergothioneine[32]. - The company has developed a series of functional skincare brands targeting different demographics, utilizing B.F.S. technology to produce sterile, small-packaged raw liquid products, enhancing product safety[47]. - The company has developed a series of cross-linked hyaluronic acid soft tissue fillers, with 3 products receiving NMPA approval in the first half of 2020[66]. - The company has developed a series of functional skincare products targeting sensitive skin and other issues, achieving breakthroughs in special efficacy products, with 5 special cosmetic registration certificates obtained[55]. - The company is focusing on expanding its product portfolio with innovative formulations, including a new oral liquid product expected to generate 300 million yuan in revenue[75]. - The company is advancing the development of probiotics instant powder, with a production scale of 250 million units and a revenue of 76.05 million, indicating a 130.65% growth rate[77]. - The company is focusing on the development of cross-linked sodium hyaluronate injection, with a production scale of 1,200 million units and a revenue of 85.62 million, indicating a growth rate of 129.74%[77]. - The company has successfully registered a new medical device, the cross-linked sodium hyaluronate injection, with a production scale of 260 million units and a revenue of 95.32 million, marking it as a domestic advanced product[78]. Market Expansion and Strategy - The company plans to continue expanding its market presence and enhancing brand recognition to drive future growth[25]. - The company plans to expand into personal consumer goods sectors such as food, maternal and child care, and daily consumer products, aiming to build a diverse product matrix[99]. - The company aims to enhance its market presence through strategic product development and technological advancements, ensuring a competitive edge in the industry[75]. - The company has established stable distribution channels in over 40 countries, with more than 2,000 global customers, and has maintained long-term partnerships with clients for over 15 years in some regions[91]. - The company has achieved a 13.13% rapid growth in overseas revenue despite the global pandemic, enhancing its brand influence internationally[93]. - The company is focusing on expanding its market presence through innovative product offerings and strategic partnerships in the functional skincare segment[185]. Risk Management - The company emphasizes that forward-looking statements in the report do not constitute commitments to investors, highlighting investment risks[7]. - The company faces risks related to new product development, including potential failures due to high costs or slow progress, which could impact market competitiveness[120]. - New product registration risks exist, as medical products must undergo rigorous approval processes, and delays could hinder market entry[121]. - The company is at risk of technological obsolescence if it fails to adapt to revolutionary new technologies in the biopharmaceutical sector[122]. - The company emphasizes the importance of retaining core technical personnel to maintain its competitive edge and ensure stable operations[124]. - The company is exposed to risks from improper promotion or misuse of its products by downstream customers, which could harm its brand reputation[129]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from its accounting firm, Deloitte[5]. - The company’s financial report is confirmed to be true, accurate, and complete by its responsible persons[6]. - The company has established a comprehensive quality management system certified by ISO standards and has high-standard production lines compliant with international regulations[88]. - The company has obtained 7 domestic registration qualifications and 23 international registration qualifications, including in the EU, the US, South Korea, Canada, Japan, Russia, and India[53]. - The company has achieved HALAL certification for its hyaluronic acid products and COSMOS certification for its mushroom extract product during the reporting period[181]. Operational Efficiency - The company primarily adopts a sales-driven production model, preparing safety stock based on market forecasts, with most products produced in-house and a small portion of skincare products outsourced[37]. - The company has a strict supplier management system, conducting annual evaluations of qualified suppliers to ensure material quality and timely delivery[35]. - The company’s production processes adhere to strict quality management systems, including GMP for pharmaceuticals and ISO22716 for functional skincare products, ensuring product safety and reliability[37]. - The company has established a joint venture with Guangdong Zhongxiang Future Network Technology Co., Ltd., holding a 51% stake in the new entity[196]. Marketing and Brand Development - The company’s advertising expenses totaled 125 million CNY, reflecting strategic brand investments to enhance brand recognition[102]. - The "润百颜" brand generated revenue of 565 million RMB, up 65.29% year-on-year, while the "夸迪" brand saw revenue soar by 513.29% to 391 million RMB[107]. - The company launched the "娃娃针" product in the second half of 2020, featuring micro-crosslinking technology and lidocaine sustained-release technology, which has strong market competitiveness[106]. - The company opened the world's first "Hyaluronic Acid Museum" in June 2020, showcasing the strength of the hyaluronic acid industry and promoting its cultural significance[116].

Financial Performance - Operating income for the first nine months rose by 23.96% to CNY 1,596,437,349.97 year-on-year[5] - Net profit attributable to shareholders increased by 5.12% to CNY 437,565,648.99 compared to the same period last year[5] - Net cash flow from operating activities surged by 84.29% to CNY 381,319,230.93 year-to-date[5] - Total operating revenue for Q3 2020 reached ¥649,160,397.14, a 35.7% increase from ¥478,549,257.07 in Q3 2019[26] - Net profit for Q3 2020 was ¥170,421,327.08, up 12.5% from ¥150,920,125.91 in Q3 2019[27] - Total comprehensive income for the first nine months of 2020 was ¥456.17 million, compared to ¥405.75 million in the same period of 2019, marking a 12.4% increase[32] Assets and Liabilities - Total assets increased by 6.75% to CNY 5,307,334,724.12 compared to the end of the previous year[5] - The company’s total assets as of September 30, 2020, amounted to ¥3,654,311,560.54, a slight decrease from ¥3,770,683,144.66 as of December 31, 2019[21] - Total liabilities increased to ¥492,275,717.01 from ¥422,105,730.03, representing a growth of about 16.6%[23] - Current liabilities decreased to ¥345,267,972.04 from ¥365,695,722.26, a reduction of approximately 5.88%[22] - Non-current assets totaled ¥961,202,769.76, including long-term equity investments of ¥695,182,456.85 and fixed assets of ¥109,852,500.96[43] Cash Flow - Cash flow from operating activities for the first nine months of 2020 was ¥1.88 billion, compared to ¥1.33 billion in the same period of 2019, indicating a growth of 41.4%[33] - The net cash flow from operating activities for the first three quarters of 2020 was ¥307,182,223.59, compared to ¥91,441,801.13 in the same period of 2019, representing a significant increase[36] - Total cash inflow from operating activities reached ¥1,102,299,211.09, up from ¥788,479,061.11 year-over-year, indicating a growth of approximately 40%[35] - The net cash flow from investment activities was -¥699,144,062.39, worsening from -¥238,706,164.17 in the same period last year[36] Research and Development - R&D expenditure as a percentage of operating income increased by 1.68 percentage points to 5.98%[7] - Research and development expenses rose by 72.65% to ¥95,517,491.18, driven by an increase in R&D personnel and project development costs[15] - Research and development expenses for Q3 2020 amounted to ¥35,808,951.34, a significant increase from ¥17,869,651.66 in Q3 2019[26] Shareholder Information - The total number of shareholders at the end of the reporting period was 12,818[10] - The largest shareholder, Huaxi Xinyu Investment Co., Ltd., holds 59.06% of the shares[10] - Shareholders' equity rose to ¥4,815,059,007.11, compared to ¥4,549,554,137.63, an increase of approximately 5.85%[23] Other Income and Expenses - Government subsidies recognized in the current period amounted to CNY 24,183,107.10[8] - The company reported a significant increase of 362.68% in other income to ¥51,168,877.60, primarily due to increased government subsidies received during the period[15] - The company’s financial expenses included interest payments of ¥7.93 million in Q3 2020, compared to a negative interest expense of -¥11.04 million in Q3 2019[30]