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。 股票代码：688505 股票简称：复旦张江 公告编号：临 2023-040 上海复旦张江生物医药股份有限公司 关于召开 2023 年半年度业绩说明会的公告 重要内容提示： 1 / 2 投资者可于 2023 年 08 月 04 日（周五）至 08 月 10 日（周四）16:00 前登录 上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@fd-zj.com 进 行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 上海复旦张江生物医药股份有限公司（以下简称"公司"）将于 2023 年 8 月 11 日于上海证券交易所网站（www.sse.com.cn）披露《上海复旦张江生物医药股 份有限公司 2023 年半年度报告》。为便于广大投资者全面深入地了解公司 2023 年半年度经营成果、财务状况及发展理念，公司计划于 2023 年 08 月 11 日下午 14:00-15:00 举行 2023 年半年度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 189,147,552, representing a year-on-year increase of 34.33%[5] - The net profit attributable to shareholders for the same period was CNY 8,787,158, reflecting a significant increase of 78.39% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses surged by 252.85% to CNY 2,349,656[5] - Total operating revenue for Q1 2023 reached ¥189,147,552, a 34.3% increase from ¥140,805,956 in Q1 2022[17] - Net profit for Q1 2023 was ¥8,794,123, compared to a net profit of ¥4,810,020 in Q1 2022, representing a 83.5% increase[18] - The total comprehensive income for Q1 2023 was ¥8,449,017, compared to ¥4,347,867 in Q1 2022, marking a 94.5% increase[19] Research and Development - Research and development expenses totaled CNY 54,511,436, accounting for 28.82% of operating revenue, a decrease of 6.49 percentage points compared to the previous year[6] - Research and development expenses were ¥54,123,028, an increase of 11.0% from ¥48,439,435 in the same period last year[17] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,850,342,292, down 4.22% from the end of the previous year[6] - As of March 31, 2023, the total assets of Shanghai Fudan Zhangjiang Bio-Pharmaceutical Co., Ltd. amounted to CNY 2,850,342,292, a decrease from CNY 2,976,007,272 at the end of 2022[13] - The company's current assets decreased to CNY 1,863,871,518 from CNY 2,069,188,785, reflecting a decline of approximately 9.94%[13] - The total liabilities decreased to CNY 588,372,864 from CNY 722,985,917, representing a reduction of approximately 18.6%[15] - The company's equity attributable to shareholders increased slightly to CNY 2,266,043,325 from CNY 2,257,102,217, showing a growth of about 0.35%[15] - The company reported a decrease in non-current liabilities to CNY 45,699,858 from CNY 49,641,713, a decline of approximately 7.4%[15] Cash Flow - The net cash flow from operating activities was negative at CNY -160,260,214, primarily due to payments made for accounts payable from the previous year[8] - Cash flow from operating activities totaled ¥162,901,241, down from ¥200,904,381 in Q1 2022, indicating a decrease of 18.9%[21] - The net cash flow from operating activities was -$160.26 million, compared to -$17.21 million in the previous period, indicating a significant increase in cash outflow[23] - The net increase in cash and cash equivalents for the first quarter was -$401.29 million, compared to -$59.13 million in the previous year[24] - The ending balance of cash and cash equivalents was $888.01 million, down from $1.15 billion at the end of the previous period[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,986[10] - Major shareholders included HKSCC NOMINEES LIMITED with 22.24% ownership and Shanghai Pharmaceutical Group with 20.42% ownership[10] - The number of shareholders as of the report date was 21,986, with 21,849 holding A shares and 137 holding H shares[11] Other Information - The company reported non-recurring gains of CNY 6,437,502, which included government subsidies and asset disposal gains[7] - The company has not disclosed any significant new strategies or product developments in the current report[12] - The company has not adopted new accounting standards for the current year, maintaining consistency in financial reporting[24] - The cash flow from operating activities reflects challenges in generating positive cash flow, which may impact future operational strategies[23] - The company continues to monitor its cash position closely amid fluctuating cash flows from various activities[24]

股票代码：688505 股票简称：复旦张江 公告编号：临 2023-015 上海复旦张江生物医药股份有限公司 关于参加 2022 年度集体业绩说明会的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 投资者可于 2023 年 4 月 25 日（周二）前通过邮件（ir@fd-zj.com）将需要了 解和关注的问题提前提供给公司，公司将在文字互动环节对投资者普遍关注的问 题进行回答。 上海复旦张江生物医药股份有限公司（以下简称"公司"）已于 2023 年 3 月 28 日于上海证券交易所网站（www.sse.com.cn）披露《上海复旦张江生物医药股 份有限公司 2022 年年度报告》。为便于广大投资者全面深入地了解公司 2022 年 度经营成果、财务状况、发展理念，公司参与了由上海证券交易所主办的 2022 年度集体业绩说明会，此次活动将采用视频和网络文字互动的方式举行，投资者 可登录上海证券交易所上证路演中心（http://roadshow.sseinfo.com/）参与线上互 动交流。 一、说明会类型 ...

Financial Performance - The company's operating revenue for 2022 was CNY 1,031,159,838, a decrease of 9.57% compared to CNY 1,140,313,088 in 2021[21]. - The net profit attributable to shareholders for 2022 was CNY 137,997,098, down 35.30% from CNY 213,295,758 in 2021[21]. - The net cash flow from operating activities was CNY 165,268,622, reflecting a decline of 38.54% compared to CNY 268,899,775 in 2021[21]. - The total assets at the end of 2022 were CNY 2,976,007,272, an increase of 7.01% from CNY 2,781,172,268 at the end of 2021[21]. - The basic earnings per share for 2022 were CNY 0.13, a decrease of 38.10% from CNY 0.21 in 2021[22]. - The diluted earnings per share for 2022 were CNY 0.13, down 35.00% from CNY 0.20 in 2021[22]. - The weighted average return on equity decreased to 6.21% in 2022, down 4.21 percentage points from 10.42% in 2021[22]. - The net assets attributable to shareholders at the end of 2022 were CNY 2,257,102,217, a slight increase of 2.93% from CNY 2,192,945,932 at the end of 2021[21]. Dividend and Share Capital - The proposed cash dividend for the year 2022 is RMB 0.7 per share, totaling RMB 72,030,000, which accounts for 52.20% of the net profit attributable to shareholders[5]. - The total share capital as of December 31, 2022, is 1,029,000,000 shares[5]. - The company does not plan to increase capital reserves or issue bonus shares[5]. Research and Development - The company's R&D expenditure accounted for 22.66% of operating revenue in 2022, an increase of 0.90 percentage points from 21.76% in 2021[22]. - The company reported a total R&D investment of ¥233,659,132, a decrease of 5.84% compared to the previous year[74]. - The number of newly applied patents during the year was 15, with a total of 187 applications and 104 patents granted cumulatively[72]. - The company has 184 R&D personnel, representing 20.22% of the total workforce, an increase from 17.65% in the previous year[83]. - The company’s R&D projects are primarily focused on addressing unmet clinical needs and demonstrating unique therapeutic effects[84]. - The company is advancing multiple antibody-drug conjugates, such as Trop2 antibody conjugate (F0024) and DLL3 antibody conjugate (F0041), both at Phase I and preclinical stages, indicating strong R&D capabilities[85]. Market and Industry Trends - The global pharmaceutical market is projected to grow at a compound annual growth rate of 3-6% from 2023 to 2027, potentially reaching a total market size of approximately USD 1.9 trillion[46]. - The Chinese pharmaceutical market reached a total size of USD 221.4 billion in 2020, with projections to grow to USD 349.8 billion by 2025[47]. - The market for broad skin disease treatment and care in China grew from RMB 300.4 billion in 2017 to RMB 471.8 billion in 2021, with a compound annual growth rate of 11.95%[48]. - The aging population in China is projected to increase the demand for pharmaceuticals, with the population aged 65 and above rising from 170 million in 2018 to 210 million in 2022, accounting for 14.86% of the total population[9]. Product Development and Pipeline - The company is focusing on innovative drug development using gene engineering, photodynamic technology, and nanotechnology, targeting skin diseases and tumors[33]. - The company plans to expand its clinical indications for selected drugs and develop new treatment regimens[33]. - The company aims to become a leader in the biopharmaceutical industry by providing effective treatment solutions and drugs[34]. - The company is conducting clinical trials for multiple projects, including the successful registration of Haemophin in the U.S. market[78]. - The company is advancing its ADC projects, including a Phase I clinical trial for an anti-Trop2 ADC drug targeting triple-negative breast cancer and bladder cancer[146]. Risks and Challenges - The company has disclosed potential significant risks in the management discussion and analysis section[4]. - The company faces risks related to the successful development and commercialization of new drugs, which can take over ten years and involve significant costs[93]. - The company is at risk of losing core technical personnel, which could impact its competitive advantage and operational stability if not managed effectively[94]. Governance and Compliance - The audit report issued by PwC is a standard unqualified opinion[5]. - The company has not violated decision-making procedures for external guarantees[7]. - The absence of a controlling shareholder poses risks to corporate governance and decision-making efficiency[95]. - The company is focusing on governance improvements through the revision of its management methods and rules[195].

Group 1: Company Overview - Shanghai Fudan Zhangjiang Bio-Pharmaceutical Co., Ltd. was established in November 1996 and is primarily engaged in innovative research, development, manufacturing, and marketing in the biopharmaceutical sector [2]. - The company aims to be an innovator and leader in the biopharmaceutical industry, focusing on exploring clinical treatment gaps and providing more effective therapeutic solutions [2]. Group 2: Research and Development Platforms - The company has established multiple research platforms, including gene engineering, photodynamic technology, nanotechnology, and oral solid preparation technology [4]. - The research pipeline includes various indications, with a focus on antibody-drug conjugates (ADC) targeting cancers such as breast cancer and gastric cancer [5]. Group 3: Product Development and Clinical Trials - The main component of the drug Aira is aminolevulinic acid hydrochloride, with ongoing studies for indications including HPV-related cervical diseases and acne, with some projects already in Phase II clinical trials [3]. - The photodynamic therapy products Aira and Fumeida have shown significant clinical advantages over traditional laser treatments, including lower recurrence rates and better patient tolerance [4]. Group 4: Financial and Investment Insights - R&D investment has been increasing since the company's listing on the STAR Market, with R&D expenditure as a percentage of revenue rising from 12.68% in 2019 to 21.76% in 2021 [6]. - The company plans to maintain a high R&D investment ratio in the future, continuing to focus on advancing ongoing projects [6].

Financial Performance - The company's operating revenue for Q3 2022 was RMB 445,006,305, representing a year-on-year increase of 2.60%[6] - The net profit attributable to shareholders for Q3 2022 was RMB 72,798,391, a decrease of 68.95% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was RMB 67,906,975, down 78.12% year-on-year[6] - The basic earnings per share for Q3 2022 was RMB 0.07, a decrease of 63.64% compared to the previous year[9] - Total operating revenue for the first three quarters of 2022 reached 716,265,980, an increase from 698,113,963 in the same period of 2021, representing a growth of approximately 2.3%[33] - Net profit for the first three quarters of 2022 was 36,739,951, down from 117,926,892 in 2021, indicating a decline of approximately 68.9%[36] - Total comprehensive income for the first three quarters of 2022 was 35,535,491, down from 116,165,685 in 2021, indicating a decrease of approximately 69.5%[39] Research and Development - The total R&D investment for Q3 2022 was RMB 71,029,256, accounting for 15.96% of operating revenue, a decrease of 7.70 percentage points year-on-year[9] - Research and development expenses rose to 171,893,365 in 2022 compared to 159,207,486 in 2021, marking an increase of about 8.5%[33] - The company’s development expenditures increased to CNY 33,998,236 from CNY 28,017,508, reflecting a growth of approximately 21.4%[28] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date period was RMB 196,182,795, an increase of 33.40% compared to the previous year[6] - Cash flow from operating activities for the first three quarters of 2022 was 196,182,795, an increase from 147,058,878 in 2021, showing a growth of approximately 33.5%[42] - Total cash inflow from investment activities was $2,860,270,307, an increase from $2,462,681,721[45] - Net cash flow from investment activities was -$79,977,072, an improvement from -$535,542,863[45] - The net increase in cash and cash equivalents was $28,262,995, compared to a decrease of $477,392,996 in the previous period[45] Assets and Liabilities - Total assets at the end of the reporting period were RMB 2,908,473,496, an increase of 4.58% from the end of the previous year[9] - As of September 30, 2022, the total assets of Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. amounted to CNY 2,908,473,496, an increase from CNY 2,781,172,268 at the end of 2021, representing a growth of approximately 4.6%[25] - The total liabilities increased to CNY 695,635,874 from CNY 591,582,298, reflecting a rise of approximately 17.6%[30] - The company's total current assets reached CNY 1,995,022,020, up from CNY 1,927,945,778 in the previous year, indicating an increase of about 3.5%[25] - The total equity attributable to shareholders was CNY 2,216,277,478, up from CNY 2,192,945,932, indicating a growth of approximately 1.1%[30] Shareholder Information - The company has a total of 21,351 common shareholders at the end of the reporting period, with the top ten shareholders holding a combined 67.74% of shares[16] - The number of shareholders totaled 21,351, with 21,211 holding A shares and 140 holding H shares, indicating a diverse shareholder base[20] Other Financial Metrics - The weighted average return on equity for Q3 2022 was 3.35%, an increase of 0.76 percentage points year-on-year[9] - The company reported a significant recovery in production and sales due to the control of the Shanghai pandemic, leading to a 48.79% increase in operating revenue for the current period[12] - The company experienced a significant increase in credit impairment losses, which amounted to -22,666,224 in 2022 compared to -4,431,214 in 2021[36] - Other income decreased to 2,481,052 in 2022 from 3,922,985 in 2021, reflecting a decline of approximately 36.7%[33] - Cash paid for dividends, profits, or interest was $72,030,000, an increase from $52,150,000[45] - The company has adopted new accounting standards starting from 2022, which may affect financial reporting[45]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[1]. - The net profit attributable to shareholders for the same period was RMB 300 million, up 20% compared to the previous year[1]. - The company's operating revenue for the first half of the year was ¥271,259,675, a decrease of 32.02% compared to ¥399,037,102 in the same period last year[24]. - The net profit attributable to shareholders of the listed company was -¥35,974,546, representing a decline of 154.94% from ¥65,485,448 in the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥45,618,524, a decrease of 183.64% compared to ¥54,543,664 last year[24]. - The net cash flow from operating activities was ¥59,366,826, an increase of 5.95% from ¥56,033,635 in the same period last year[24]. - The company's total assets at the end of the reporting period were ¥2,701,939,784, down 2.85% from ¥2,781,172,268 at the end of the previous year[24]. - The company's net assets attributable to shareholders at the end of the reporting period were ¥2,126,038,966, a decrease of 3.05% from ¥2,192,945,932 at the end of the previous year[24]. - The basic earnings per share for the reporting period was -¥0.03, a decline of 150.00% from ¥0.06 in the same period last year[24]. - The company achieved revenue of 271 million yuan during the reporting period, a year-on-year decrease of 32.02%[81]. - The net loss for the six months ended June 30, 2022, was RMB 36,020,882, compared to a profit of RMB 65,069,479 for the same period in 2021[185]. - The company reported a gross loss of RMB 60,771,766 for the six months ended June 30, 2022, compared to a profit of RMB 68,518,791 for the same period in 2021[185]. Research and Development - The R&D investment as a percentage of operating revenue increased to 39.39%, up 12.45 percentage points from 26.94% in the previous year[24]. - The company is conducting Phase I clinical trials for the FDA022 antibody-drug conjugate, targeting HER2-positive advanced solid tumors, with significant market potential[56]. - The company is conducting Phase II clinical studies for the use of Ammonium Ketone Acid in treating HPV-related cervical precancerous lesions and moderate to severe acne, with preclinical studies for gliomas completed[50]. - The company has established a gene engineering technology platform, focusing on the development of cytokine, fusion protein, monoclonal antibody, and antibody-drug conjugate products, with plans to enhance clinical research and registration for gene drugs[44]. - The company is exploring the development of PEGylated liposomal formulations to reduce cardiac toxicity associated with traditional treatments[37]. - The company is currently developing innovative drugs targeting skin diseases, tumors, and precancerous lesions, as well as antibody-drug conjugates for tumors[90]. - The company has a total of 147 patent applications, with 6 new applications in the current period, maintaining a strong intellectual property portfolio[57]. - Research and development expenses for the six months ended June 30, 2022, were RMB 102,559,780, an increase from RMB 98,267,565 in the same period of 2021[185]. - The company has achieved breakthroughs in the large-scale production process of its paclitaxel albumin nanoparticle project, indicating strong potential for market expansion[52]. Market Strategy and Outlook - The company has outlined a future outlook projecting a revenue growth of 10-15% for the second half of 2022[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2023[1]. - The company aims to address the unmet medical needs in the treatment of skin diseases and improve patient outcomes through innovative therapies[29]. - The company is exploring new sales models leveraging online academic exchange platforms to address common marketing challenges and improve patient access[76]. - The company plans to develop a new drug for Parkinson's disease in collaboration with Shanghai Handu Pharmaceutical, which is currently in Phase II clinical trials[93]. Operational Challenges and Risks - The management highlighted potential risks including regulatory changes and market competition, which could impact future performance[1]. - The company faced operational challenges due to strict COVID-19 measures in Shanghai, impacting production and delivery schedules[24]. - The company faces risks related to the single variety of its products, as the main products are significantly impacted by competition and regulatory changes[86]. - The company is exposed to risks from potential price reductions in pharmaceuticals due to government policies and market competition[89]. Environmental and Compliance - The company has established a five-year environmental goal based on 2020 as the baseline year, focusing on emissions, waste, energy, and water resources to continuously improve environmental management levels[124]. - The company strictly adheres to national and local standards for pollutant emissions, including wastewater, waste gas, greenhouse gases, and waste, with no violations reported during the reporting period[123]. - The company has implemented a comprehensive energy performance management system, setting energy-saving targets for each department based on historical data and production realities[124]. - The company has established an emergency response mechanism for environmental incidents related to emissions, ensuring compliance with environmental protection regulations[123]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[123]. Shareholder and Governance - The company does not have a controlling shareholder, which may lead to governance instability and decision-making inefficiencies[85]. - The company committed to not transferring or entrusting its shares for 36 months post-IPO, with an extension of at least 6 months if the stock price falls below the issue price for 20 consecutive trading days within the first 6 months[130]. - The company will ensure compliance with legal requirements for related party transactions and maintain independence in operations and financial matters[130]. - The company will limit share reductions to no more than 5% of total shares outstanding per year for 2 years after the lock-up period expires[131]. - The company will ensure that any share sales will not be below the IPO issue price, with adjustments made for any corporate actions affecting share value[133].

Financial Performance - The company's operating revenue for Q1 2022 was ¥140,805,956, representing an increase of 11.57% compared to the same period last year[6]. - The net profit attributable to shareholders of the listed company was ¥4,925,903, showing a decrease of 3.74% year-on-year[6]. - Total operating revenue for Q1 2022 reached 140,805,956, an increase from 126,203,456 in Q1 2021, representing a growth of approximately 11.3%[34]. - Total revenue for the first quarter of 2022 was 4,810,020, a decrease from 4,965,493 in the same period of 2021, representing a decline of approximately 3.1%[37]. - Net profit attributable to shareholders of the parent company was 4,925,903, down from 5,117,336 in the previous year, reflecting a decrease of about 3.7%[37]. - The total comprehensive income for the first quarter was 4,347,867, compared to 6,934,321 in the prior year, indicating a decline of approximately 37.4%[37]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥17,207,380, indicating a negative cash flow situation[6]. - Cash flow from operating activities showed a net outflow of -17,207,380, an improvement from -24,454,235 in the same quarter of 2021[42]. - Cash flow from investing activities resulted in a net outflow of -39,748,258, worsening from -9,644,302 in the previous year[45]. - Cash and cash equivalents as of March 31, 2022, were 1,149,749,936, down from 1,208,880,911 as of December 31, 2021, a decrease of about 4.9%[25]. - Cash and cash equivalents at the end of the period were 1,149,749,936, down from 1,361,182,929 at the end of the first quarter of 2021[45]. - Operating cash inflows totaled 200,904,381, a decrease from 212,240,034 in the same quarter of the previous year, representing a decline of about 5.6%[42]. - The company reported a significant increase in cash received from other operating activities, amounting to 10,966,677, compared to 1,259,618 in the previous year[42]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,713,750,038, down 2.42% from the end of the previous year[9]. - Total assets as of March 31, 2022, were 2,713,750,038, a decrease from 2,781,172,268 as of December 31, 2021, representing a decline of approximately 2.4%[28]. - Total liabilities as of March 31, 2022, were 522,411,151, down from 591,582,298 as of December 31, 2021, indicating a reduction of about 11.7%[31]. - Non-current assets totaled 883,055,093 as of March 31, 2022, compared to 853,226,490 as of December 31, 2021, reflecting an increase of approximately 3.5%[28]. - The company's total equity as of March 31, 2022, was 2,191,338,887, slightly up from 2,189,589,970 as of December 31, 2021, indicating a marginal increase of about 0.1%[31]. Research and Development - Research and development expenses totaled ¥49,712,480, accounting for 35.31% of operating revenue, a decrease of 5.22 percentage points from the previous year[9]. - Research and development expenses in Q1 2022 amounted to 48,439,435, compared to 45,724,591 in Q1 2021, reflecting a rise of approximately 5.9%[34]. Operational Challenges - The company faced operational challenges due to COVID-19 restrictions in Shanghai, leading to temporary closure of offices and factories[21]. - The company is included in the "whitelist" for resuming work and production in Shanghai, indicating a plan to mitigate the impact of the pandemic[21]. - The company received government subsidies amounting to ¥873,484, closely related to its normal business operations[10]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,383[14]. - The weighted average return on net assets was 0.22%, a decrease of 0.03 percentage points compared to the previous year[9].

Financial Performance - The company's operating revenue for 2021 reached RMB 1,140,313,088, representing a year-on-year increase of 36.76%[28]. - Net profit attributable to shareholders for 2021 was RMB 213,295,758, up 29.53% compared to the previous year[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 35.96% to RMB 173,169,675 in 2021[28]. - The net cash flow from operating activities surged by 137.96% to RMB 268,899,775 in 2021[28]. - The company's total assets at the end of 2021 were RMB 2,781,172,268, reflecting an 11.22% increase from the end of 2020[28]. - The company's revenue for the reporting period reached RMB 1,140,313,088, representing a year-on-year increase of 36.76% compared to RMB 833,802,693 in the previous year[120]. - The operating costs increased to RMB 80,955,367, up 24.91% from RMB 64,811,766, primarily due to improved sales performance[120]. - The company reported a significant increase in sales expenses, which rose by 41.12% to RMB 599,696,956, attributed to improved sales conditions and the inclusion of share-based payment expenses[120]. Research and Development - Research and development expenses accounted for 21.76% of operating revenue in 2021, an increase of 3.17 percentage points from the previous year[28]. - The total R&D investment for the year reached ¥248,153,842, a significant increase of 60.13% compared to the previous year[84]. - The proportion of R&D investment to operating revenue increased to 21.76%, up from 18.59% in the previous year, reflecting a 3.18% rise[84]. - The company has developed PEGylated liposomal doxorubicin, which has shown improved efficacy and reduced cardiac toxicity compared to traditional formulations[63]. - The company is currently conducting Phase I clinical trials for multiple innovative drug candidates, including anti-CD30 antibody conjugate DM1 and anti-Trop2 antibody conjugate SN38, both of which are at the international leading level[95]. - The company has established a gene engineering technology platform, focusing on the development of cytokine, fusion protein, monoclonal antibody, and antibody-drug conjugate products, with plans to enhance clinical research and registration for gene drugs[71]. - The company has completed bioequivalence studies for obeticholic acid, targeting a significant market in China for liver and biliary diseases, and has received clinical approval for confirmatory studies[174]. Product Development and Innovation - The company reported a significant focus on the development of anthracycline drugs, including doxorubicin, epirubicin, and pirarubicin, which are widely used for treating various malignancies[20]. - The company is engaged in the research and development of liposomal formulations, which enhance drug targeting and reduce toxicity[20]. - The company emphasizes the importance of bioequivalence (BE) studies to ensure that generic drugs meet the quality and efficacy standards of original drugs[20]. - The main product, Aira® (Ammonium Pentanoate), is the world's first photodynamic drug for treating genital warts, significantly reducing recurrence rates compared to traditional therapies[41]. - The company launched Aira® in 2007, which has been included in clinical treatment guidelines and textbooks since 2013, highlighting its effectiveness in treating subclinical and latent infections[42]. - The company introduced Revmeda® (Heimofen) in 2017, the first photodynamic drug for treating port-wine stains, showing high cure rates and low recurrence compared to traditional methods[43]. - The company is focusing on innovative drug development in areas such as photodynamic therapy for skin diseases and tumors, and antibody-drug conjugates for cancer treatment[159]. Market and Sales Strategy - The company employs a distribution model for sales, with its own team marketing photodynamic drugs while using a CSO for its anti-tumor product[48]. - The company’s revenue model primarily relies on sales from its pharmaceutical products, with a focus on self-developed products[45]. - The company is focusing on academic promotion as a primary marketing strategy, utilizing a WeChat platform for clinical communication and case sharing[115]. - The company is actively pursuing the internationalization of its core products, particularly through the successful registration of Heimofen in the U.S. market[87]. - The company is exploring new sales models through its WeChat platform, which facilitates academic exchanges among dermatologists and addresses common issues faced by patients[100]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from PwC Zhong Tian[8]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[12]. - The company has not reported any violations of decision-making procedures for external guarantees[12]. - The company is committed to maintaining a transparent and accountable management structure to protect shareholder interests[49]. - The company has not ventured into new industries, new business models, or new formats during the reporting period[68]. Risks and Challenges - The company faces risks related to the lengthy and costly drug development process, which can take over ten years and involves significant uncertainty[105]. - The company is at risk of losing core technical personnel, which could impact its competitive advantage and stability in R&D and production services[106]. - The company faced risks related to potential declines in sales revenue and net profit due to competitive bidding outcomes for its drugs[155]. - The company is exposed to product concentration risk, as its main products are subject to competition and regulatory changes[108]. - The company faces risks related to a lack of actual controlling shareholder, which may affect governance and decision-making efficiency[107]. Investment and Financial Position - The investment cash flow net amount was negative at RMB -355,671,109, primarily due to capital contributions and equity transfer payments totaling RMB 266 million[123]. - The company has made a significant equity investment of RMB 325 million, reflecting a growth of 430.13%[199]. - The company acquired a 39.5663% stake in Shanghai Handu through an investment of RMB 266 million during the reporting period[200]. - Long-term equity investments surged by 430.13% to 325,816,669, representing 11.72% of total assets[143]. - The company has overseas assets totaling 15,038,439, which accounts for 0.54% of total assets[146].

Financial Performance - The company's operating revenue for Q3 2021 was ¥299,076,861, representing a year-on-year increase of 14.77%[6] - The net profit attributable to shareholders for the same period was ¥53,128,822, a decrease of 4.73% compared to the previous year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥47,320,806, showing a slight decrease of 0.56% year-on-year[6] - Total operating revenue for Q3 2021 reached 698,113,963, a 40.7% increase from 496,213,149 in the same period of 2020[40] - Net profit for Q3 2021 was 117,926,892, compared to 84,859,395 in Q3 2020, representing a 38.9% growth[42] - Earnings per share for Q3 2021 were 0.11, an increase from 0.09 in Q3 2020[45] - The company reported a total comprehensive income of 116,165,685 for Q3 2021, compared to 84,776,793 in Q3 2020, reflecting a 37.0% increase[45] Research and Development - The total R&D investment for Q3 2021 was ¥70,765,888, an increase of 41.05% compared to the same period last year[8] - R&D investment accounted for 23.66% of operating revenue in Q3 2021, an increase of 4.41 percentage points year-on-year[8] - Research and development expenses for Q3 2021 totaled 159,207,486, up from 102,365,503 in Q3 2020, indicating a 55.4% increase[40] - The company plans to invest a total of RMB 60,000,000 in the construction of a second-phase pharmaceutical production base to support future R&D projects[26] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was ¥147,058,878, reflecting a significant increase of 662.49%[8] - Operating cash inflow for the first three quarters of 2021 reached RMB 775,540,672, a 40% increase from RMB 553,608,496 in the same period of 2020[48] - Cash and cash equivalents at the end of the period stood at RMB 919,497,196, down from RMB 1,416,742,573 at the end of the previous year[51] - The company reported a decrease in cash paid to employees to RMB 112,130,627 from RMB 119,862,895, reflecting a 6% reduction[48] - The net cash flow from financing activities was -RMB 88,889,372, a significant decrease from RMB 855,952,866 in the previous year[51] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,543,080,453, a 1.69% increase from the end of the previous year[8] - The equity attributable to shareholders at the end of the reporting period was ¥2,067,806,206, up 2.83% from the previous year[8] - The company's long-term equity investments increased significantly to RMB 321,918,991 from RMB 61,459,426, marking a growth of approximately 423.5%[30] - The total current assets decreased to RMB 1,739,117,480 from RMB 2,026,574,174, reflecting a reduction of about 14.2%[30] - Total liabilities decreased slightly to RMB 411,221,966 from RMB 427,925,821, a reduction of about 3.5%[34] Inventory and Shareholder Information - The company reported an increase in inventory to RMB 40,154,851 from RMB 36,009,341, which is an increase of approximately 11.9%[30] - The number of shareholders as of the reporting period was 21,993, with 21,842 holding A shares and 151 holding H shares[22] - The company granted 32.77 million restricted shares to 258 incentive recipients at a price of RMB 8.90 per share as part of its employee stock incentive plan[25]