Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching RMB 100 million, representing a growth of 25% compared to the same period last year[1]. - The company achieved operating revenue of CNY 236.93 million in the first half of 2021, representing a year-on-year increase of 56.51%[18]. - Net profit attributable to shareholders reached CNY 70.02 million, a significant increase of 124.65% compared to the same period last year, primarily driven by increased sales of the LiCA® product series[20]. - The net cash flow from operating activities was CNY 81.41 million, up 101.60% year-on-year, attributed to increased sales and collection of receivables[21]. - Basic earnings per share were CNY 0.19, reflecting a 111.11% increase from CNY 0.09 in the previous year[20]. - The company reported a significant decrease in other income by 90.88% due to reduced government subsidies received during the reporting period[91]. - The total profit before tax amounted to CNY 80,595,551.20, compared to CNY 35,814,997.73 in the previous year, showing a substantial increase[198]. - The total comprehensive income for the first half of 2021 was CNY 70,015,539.66, compared to CNY 31,166,614.41 in the previous year, reflecting overall growth[199]. Market Expansion and Product Development - The company has provided a positive outlook for the second half of 2021, projecting a revenue growth of 30% year-over-year[1]. - New product development includes the launch of the LiCA® series, which has shown promising initial sales figures, contributing to 10% of total revenue[1]. - The company is actively pursuing market expansion strategies, targeting new regions in Southeast Asia, with plans to enter three new markets by the end of 2021[1]. - The company plans to continue expanding its product offerings and market presence, focusing on innovation and strategic partnerships[21]. - The company is actively developing new products, including the LiCA® AT 5000, which is currently in the development phase[31]. - The company successfully launched the LiCA® Smart fully automated chemiluminescence immunoassay analyzer in the first half of 2021, which is the first of its kind in China to meet the "Expert Consensus on Emergency Testing Capability Construction and Standards" (2020 version)[72]. Research and Development - The company has committed to increasing R&D investment by 20% in 2022 to enhance product innovation and technological advancements[1]. - Research and development expenses accounted for 13.29% of operating revenue, a decrease of 1.70 percentage points compared to the previous year[20]. - The company achieved a 38.73% increase in research and development (R&D) expenses, totaling ¥31,484,638.71 compared to ¥22,695,171.07 in the previous period[55]. - The number of R&D personnel increased to 123, accounting for 19.81% of the total workforce[61]. - The company has successfully advanced 19 projects into regulatory review and 11 into clinical stages, covering infectious diseases, thyroid function, reproductive health, tumor markers, and autoimmune diseases[52]. Financial Stability and Investments - The company has maintained a strong balance sheet, with total assets amounting to RMB 500 million, ensuring financial stability for future investments[1]. - The company's total assets at the end of the reporting period were CNY 1.35 billion, a 34.56% increase from the previous year-end[19]. - The company's net assets attributable to shareholders increased to CNY 1.21 billion, up 35.90% from the previous year-end[19]. - Cash assets at the end of the period reached 406,921,481.56, representing 30.04% of total assets, an increase of 81.00% compared to the previous year[93]. - The company has committed to a share buyback program to stabilize stock prices, with an allocation of 200 million RMB[113]. Risks and Challenges - The management has identified key risks, including regulatory changes and market competition, and has outlined mitigation strategies in the report[1]. - Increased competition in the in-vitro diagnostic market from both domestic and international companies poses a risk to market share and profitability[84]. - The company faces risks related to product quality and regulatory compliance, which could impact sales performance and brand image[83]. - The company must adapt to healthcare reforms such as "two-invoice system" and "volume-based procurement" to avoid potential declines in operating performance[86]. Shareholder Commitments and Governance - The company has committed to maintaining shareholding arrangements for major shareholders for 36 months post-IPO[112]. - The company has ensured compliance with commitments related to shareholding and reduction arrangements for significant shareholders[112]. - The company will comply with relevant laws and regulations regarding the reduction of shareholdings after the lock-up period[119]. - The company will adhere to regulations regarding shareholding and reduction commitments, including those from the China Securities Regulatory Commission and the Shanghai Stock Exchange[126]. - The company will bear compensation responsibilities for any losses caused to investors due to non-fulfillment of commitments[130]. Environmental Management - The company has implemented various environmental management systems to effectively manage emissions during production, including adherence to national standards for air pollutants and wastewater treatment[106]. - The company is actively reducing carbon emissions through clean energy and renewable energy technologies, aiming to improve energy efficiency[109]. - There are no reported administrative penalties related to environmental issues during the reporting period[106]. Legal Matters - The company is involved in significant litigation, including a case where it is accused of infringing on trade secrets, with a claim for damages amounting to RMB 6.8 million and additional costs of RMB 1 million[153]. - The company has ongoing litigation with the Supreme People's Court regarding a trade secret infringement case, which is currently under review[153]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties during the reporting period[152].

Financial Performance - Operating income rose by 103.52% to CNY 120,215,653.37 year-on-year[5] - Net profit attributable to shareholders increased by 253.69% to CNY 38,138,994.23 compared to the same period last year[5] - Basic and diluted earnings per share both increased by 253.69% to CNY 0.11[5] - Operating profit for Q1 2021 was ¥44,471,576.60, up from ¥12,962,487.05 in Q1 2020, reflecting a growth of 243.5%[30] - Net profit for Q1 2021 amounted to ¥38,138,994.23, compared to ¥10,783,085.91 in Q1 2020, representing an increase of 253.5%[30] Cash Flow - Net cash flow from operating activities surged by 817.53% to CNY 40,023,264.03 year-on-year[5] - Cash flow from operating activities for Q1 2021 was ¥40,023,264.03, a substantial increase from ¥4,362,069.13 in Q1 2020[38] - The net cash flow from operating activities was -¥1,011,888.80, improving from -¥12,210,391.01 in the same period last year[40] Assets and Liabilities - Total assets increased by 7.31% to CNY 1,080,465,148.40 compared to the end of the previous year[5] - Total liabilities rose to CNY 154,967,598.90 from CNY 119,463,997.34, which is an increase of approximately 29.7%[22] - The company's total liabilities included a new lease liability of ¥29,298,095.26, reflecting the impact of new leasing regulations[15] - The company's current assets totaled CNY 745,371,829.51, compared to CNY 702,339,971.46 at the end of 2020, indicating an increase of about 6.1%[20] Research and Development - R&D expenses accounted for 12.25% of operating income, a decrease of 5.74 percentage points from the previous year[7] - Research and development expenses increased by 38.57% to ¥14,728,188.25, up from ¥10,628,422.89, reflecting the company's commitment to innovation[15] - R&D expenses increased to ¥7,879,358.05 in Q1 2021, up from ¥5,557,862.73 in Q1 2020, reflecting a focus on innovation[33] Shareholder Information - The total number of shareholders at the end of the reporting period was 16[10] - The largest shareholder, Ningbo Free Trade Zone Yingweili Enterprise Management Partnership, holds 30.00% of shares[10] Other Financial Metrics - The weighted average return on equity rose by 2.97 percentage points to 4.21%[5] - The company reported a total of CNY 1,508,107.19 in non-recurring gains and losses[9] - The company reported a substantial increase in income tax expenses, which rose by 450.86% to ¥6,254,697.46 from ¥1,135,442.34[15] - Investment income decreased by 59.79% to ¥1,385,096.96, down from ¥3,444,391.01, indicating a decline in returns from financial products[15] Changes in Assets - Other current assets rose significantly by 95.34% to ¥14,078,698.19, compared to ¥7,207,299.59 in the previous period[15] - The company's inventory increased to CNY 107,312,731.75 from CNY 98,672,713.99, marking an increase of about 8.3%[20] - The company reported a non-current asset total of CNY 335,093,318.89, up from CNY 304,482,581.14, indicating an increase of about 10.1%[21] Compliance and Standards - The company implemented a new leasing standard starting in 2021, affecting the financial statements[42] - The company adopted the new leasing standard effective January 1, 2021, which did not significantly impact financial status or cash flows[47]