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 Summary and Performance Highlights](index=2&type=section&id=Financial%20Summary%20and%20Performance%20Highlights) The company reported significant Q3 2022 revenue and net profit growth, though year-to-date net profit declined sharply due to increased share-based payment expenses [Key Financial Data](index=2&type=section&id=%E4%B8%BB%E8%A6%81%E8%B2%A1%E5%8B%99%E6%95%B8%E6%93%9A) In Q3 2022, the company achieved significant year-on-year growth in operating revenue and net profit, while year-to-date net profit saw a substantial decline, influenced by increased share-based payment expenses | Item | Current Period (Q3 2022) (RMB Yuan) | YoY Change (%) in Current Period | Year-to-Date (First Three Quarters) (RMB Yuan) | YoY Change (%) Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 445,006,305 | 48.79% | 716,265,980 | 2.60% | | **Net Profit Attributable to Shareholders of the Listed Company** | 72,798,391 | 37.02% | 36,823,845 | -68.95% | | **Net Profit Attributable to Shareholders of the Listed Company (Excluding Non-Recurring Gains/Losses)** | 67,906,975 | 43.50% | 22,288,451 | -78.12% | | **Basic Earnings Per Share (RMB/share)** | 0.07 | 40.00% | 0.04 | -63.64% | | **Total R&D Investment** | 71,029,256 | 0.37% | 177,874,093 | -0.22% | | **R&D Investment as % of Operating Revenue (%)** | 15.96% | Decreased by 7.70 percentage points | 24.83% | Decreased by 0.71 percentage points | | Item | End of Current Period (RMB Yuan) | End of Previous Year (RMB Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | **Total Assets** | 2,908,473,496 | 2,781,172,268 | 4.58% | | **Total Equity Attributable to Shareholders of the Listed Company** | 2,216,277,478 | 2,192,945,932 | 1.06% | [Non-Recurring Gains and Losses](index=3&type=section&id=%E9%9D%9E%E7%B6%93%E5%B8%B8%E6%80%A7%E6%90%8D%E7%9B%8A%E9%A0%85%E7%9B%AE%E5%92%8C%E9%87%91%E9%A1%8D) In the first three quarters of 2022, the company recorded total non-recurring gains of approximately RMB 14.54 million, primarily from structured deposit interest and government grants | Item | Amount Year-to-Date (RMB Yuan) | Description | | :--- | :--- | :--- | | Fair Value Changes and Investment Income from Financial Assets | 14,026,034 | Primarily interest from the Group's structured deposits | | Government Grants Recognized in Current Profit/Loss | 2,481,052 | / | | Gains/Losses on Disposal of Non-Current Assets | 1,381,059 | / | | Other Non-Operating Income and Expenses | -787,646 | / | | **Total** | **14,535,394** | / | [Analysis of Changes in Key Financial Indicators](index=3&type=section&id=%E4%B8%BB%E8%A6%81%E6%9C%83%E8%A8%88%E8%B3%87%E6%96%99%E3%80%81%E8%B2%A1%E5%8B%99%E6%8C%87%E6%A8%99%E7%99%BC%E7%94%9F%E8%AE%8A%E5%8B%95%E7%9A%84%E6%83%85%E6%B3%81%E3%80%81%E5%8E%9F%E5%9B%A0) Q3 revenue and profit growth were driven by post-epidemic recovery, while year-to-date net profit decline was primarily due to increased share-based payment expenses, and operating cash flow improved from extended payment cycles - Operating revenue and related profit indicators in the current reporting period (Q3) significantly increased year-on-year, primarily due to the recovery of drug production and sales after the Shanghai epidemic was brought under control[5](index=5&type=chunk) - Year-to-date, net profit attributable to parent company decreased by **68.95%** year-on-year, and non-recurring net profit attributable to parent company decreased by **78.12%**, mainly due to share-based payment expenses of **RMB 68.4417 million**, compared to **RMB 23.7992 million** in the same period last year[5](index=5&type=chunk) - Year-to-date, net cash flow from operating activities increased by **33.40%** year-on-year, primarily due to extended payment cycles for accounts payable[5](index=5&type=chunk) [Shareholder Information](index=4&type=section&id=%E8%82%A1%E6%9D%B1%E4%BF%A1%E6%81%AF) As of the reporting period end, the company had 21,351 common shareholders, with the top five shareholders holding over 70% of shares [Shareholder Profile and Top Ten Shareholders](index=4&type=section&id=%E8%82%A1%E6%9D%B1%E6%A6%82%E6%B3%81%E8%88%87%E5%89%8D%E5%8D%81%E5%A4%A7%E8%82%A1%E6%9D%B1) As of the reporting period end, the company had 21,351 common shareholders, with a concentrated equity structure where the top five shareholders collectively held over 70% of shares - As of the end of the current reporting period, the company had a total of **21,351** common shareholders, including **21,211** A-share holders and **140** H-share holders[6](index=6&type=chunk) | Shareholder Name | Shareholding (%) | Number of Shares Held | | :--- | :--- | :--- | | HKSCC NOMINEES LIMITED | 21.79 | 224,234,900 | | Shanghai Pharmaceuticals Holding Co., Ltd. | 20.42 | 210,142,560 | | Xinqi Phase II Venture Capital Enterprise | 15.25 | 156,892,912 | | Yang Zongmeng | 7.77 | 80,000,000 | | Wang Haibo | 5.63 | 57,886,430 | [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) The company's total assets increased by 4.58% to RMB 2.91 billion, while total liabilities rose by 17.59% to RMB 695.64 million, and net profit attributable to parent company declined by 68.95% year-to-date [Consolidated Balance Sheet](index=6&type=section&id=%E5%90%88%E4%BD%B5%E8%B3%87%E7%94%A2%E8%B2%A0%E5%82%B5%E8%A1%A8) As of September 30, 2022, total assets reached RMB 2.91 billion, increasing by 4.58% driven by construction in progress, while total liabilities grew by 17.59% due to higher other payables | Item | September 30, 2022 (RMB Yuan) | December 31, 2021 (RMB Yuan) | Change | | :--- | :--- | :--- | :--- | | **Total Assets** | **2,908,473,496** | **2,781,172,268** | **+4.58%** | | Cash and Cash Equivalents | 1,237,143,906 | 1,208,880,911 | +2.34% | | Construction in Progress | 112,124,690 | 48,899,044 | +129.29% | | **Total Liabilities** | **695,635,874** | **591,582,298** | **+17.59%** | | Other Payables | 577,314,935 | 443,978,184 | +30.03% | | **Total Equity Attributable to Parent Company Owners** | **2,216,277,478** | **2,192,945,932** | **+1.06%** | [Consolidated Income Statement](index=8&type=section&id=%E5%90%88%E4%BD%B5%E5%88%A9%E6%BD%A4%E8%A1%A8) In the first three quarters of 2022, total operating revenue slightly increased by 2.6%, but rising operating costs led to a 73.46% decline in operating profit and a 68.95% drop in net profit attributable to parent company | Item | First Three Quarters of 2022 (RMB Yuan) | First Three Quarters of 2021 (RMB Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | **Total Operating Revenue** | **716,265,980** | **698,113,963** | **+2.60%** | | **Total Operating Costs** | **667,789,596** | **592,930,829** | **+12.62%** | | Of which: Selling Expenses | 383,823,070 | 346,570,728 | +10.75% | | Administrative Expenses | 55,061,168 | 38,043,903 | +44.73% | | R&D Expenses | 171,893,365 | 159,207,486 | +8.00% | | **Operating Profit** | **30,756,721** | **115,898,651** | **-73.46%** | | **Net Profit Attributable to Parent Company Shareholders** | **36,823,845** | **118,614,270** | **-68.95%** | | **Basic and Diluted Earnings Per Share (RMB/share)** | **0.04** | **0.11** | **-63.64%** | [Consolidated Cash Flow Statement](index=9&type=section&id=%E5%90%88%E4%BD%B5%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In the first three quarters of 2022, net cash flow from operating activities increased by 33.40% to RMB 196.18 million, while net cash outflow from investing activities significantly narrowed | Item | First Three Quarters of 2022 (RMB Yuan) | First Three Quarters of 2021 (RMB Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | **Net Cash Flow from Operating Activities** | **196,182,795** | **147,058,878** | **+33.40%** | | **Net Cash Flow from Investing Activities** | **-79,977,072** | **-535,542,863** | Not Applicable | | **Net Cash Flow from Financing Activities** | **-88,302,716** | **-88,889,372** | Not Applicable | | **Net Increase in Cash and Cash Equivalents** | **28,262,995** | **-477,392,996** | Not Applicable | | **Cash and Cash Equivalents at Period End** | **1,237,143,906** | **919,497,196** | **+34.55%** | [Other Important Information](index=5&type=section&id=Other%20Important%20Information) The company reported no other significant operational information requiring investor attention, and the quarterly report was approved by the Board of Directors on October 27, 2022 [Other Important Reminders](index=5&type=section&id=%E5%85%B6%E4%BB%96%E6%8F%90%E9%86%92%E4%BA%8B%E9%A0%85) The company has no other significant information regarding its operations that requires investor attention during the current reporting period - The company has no other significant information regarding its operations that requires investor attention during the current reporting period[7](index=7&type=chunk) [Board of Directors Information](index=10&type=section&id=%E8%91%A3%E4%BA%8B%E6%9C%83%E4%BF%A1%E6%81%AF) The quarterly report was approved by the Board of Directors on October 27, 2022, with a detailed list of executive, non-executive, and independent non-executive directors - These financial statements were approved for issuance by the Company's Board of Directors on **October 27, 2022**[13](index=13&type=chunk) - Board members include Executive Directors Wang Haibo, Su Yong, Zhao Dajun; Non-Executive Directors Shen Bo, Yu Xiaoyang; and Independent Non-Executive Directors Zhou Zhonghui, Lin Yaojian, Xu Qing, Yang Chunbao[14](index=14&type=chunk)

第四科江 FUDAN-ZHANGJIANG 上 海 復 旦 張 江 生 物 醫 藥 股 份 有 限 公 司 Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. * (於中華人民共和國註冊成立的股份有限公司) ( 股票號碼：1349) 載 至 二 零 二 二 年 六 月 三 十 日 止 六 個 月 中 期 報 告 * 僅供識別 公司主要財務指標 一、公司主要會計數據和財務指標 （一）五年財務摘要 | --- | --- | --- | --- | --- | --- | |---------------------------------------------|-------------------------------------------|-------------------------|-------------------------|-----------------------------------------------|-----------------------| | | | | | | | | 業績 | | | 未經審核 ...

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].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不因本公告全部或任何部份內容而產 生或因依賴該等內容而引致的任何損失承擔任何責任。 上 海 復 旦 張 江 生 物 醫 藥 股 份 有 限 公 司 Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd.* 二零二二年第一季度報告 上海復旦張江生物醫藥股份有限公司（「本公司」，聯同其附屬公司，「本集團」）之董 事會（「董事會」）欣然宣佈本公司及其附屬公司截至二零二二年三月三十一日止第一季 度（「本報告期」）期間按照中國企業會計準則編製的未經審計財務資料（「第一季度報 告」）。本公告乃根據香港法例第 571 章證券及期貨條例第 XIVA 部項下內幕消息條文及 香港聯合交易所有限公司證券上市規則第 13.09(2)和第 13.10B 條的要求作出。 1 / 9 主要財務數據 | --- | --- | --- | --- | |-----------------------------------------------|---------- ...

复旦我江 FUDAN-ZHANGJIANG 上 海 復 旦 張 江 生 物 醫 藥 股 份 有 限 公 司 Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. (於中華人民共和國註冊成立的股份有限公司) (股票號碼：1349) " 僅供歲別 年報 2021 目錄 頁碼 | --- | |--------------------| | | | 公司資料 | | 五年財務摘要 | | 主席報告 | | 管理層的討論及分析 | | 董事會報告 | | 監事會報告 | | 審核委員會報告 | | 薪酬委員會報告 | | 提名委員會報告 | | 戰略委員會報告 | | 獨立非執行董事報告 | | | 2 4 6 20 33 63 66 69 71 73 75 企業管治報告 77 | --- | --- | |-------|----------------------------| | | | | | 董事、監事及高級管理層簡介 | | | 環境、社會及管治報告 | | | 獨立核數師報告 | | | 合併財務報表 | | • | 合併資產負債表 | | • | ...

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]

[Company's Key Financial Indicators](index=2&type=section&id=%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E8%B2%A1%E5%8B%99%E6%8C%87%E6%A8%99) H1 2021 performance significantly recovered, with revenue up **69.36%** and net profit attributable to parent up **125.20%**, driven by post-pandemic market recovery [Key Accounting Data and Financial Indicators](index=2&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E6%9C%83%E8%A8%88%E6%95%B8%E6%93%9A%E5%92%8C%E8%B2%A1%E5%8B%99%E6%8C%87%E6%A8%99) H1 2021 performance significantly recovered, with revenue up **69.36%** and net profit attributable to parent up **125.20%**, driven by post-pandemic market recovery - During the reporting period, with the domestic epidemic under control, drug circulation and hospital patient visits significantly recovered, leading to improved drug sales and a **69.36%** year-on-year increase in operating revenue, with net profit attributable to shareholders of listed companies increasing by **125.20%**[6](index=6&type=chunk) 2021 H1 Key Accounting Data (RMB Yuan) | Key Accounting Data | This Reporting Period (Jan-Jun 2021) | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 399,037,102 | 235,614,896 | 69.36 | | Net Profit Attributable to Shareholders of Listed Companies | 65,485,448 | 29,078,874 | 125.20 | | Net Profit Attributable to Shareholders of Listed Companies (Excluding Non-recurring Items) | 54,543,664 | 10,530,619 | 417.95 | | Net Cash Flow from Operating Activities | 56,033,635 | 60,819,045 | -7.87 | 2021 H1 Key Financial Indicators | Key Financial Indicators | This Reporting Period (Jan-Jun 2021) | Prior Year Period | Change | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/share) | 0.06 | 0.03 | 100.00% | | Weighted Average Return on Net Assets (%) | 3.20 | 3.19 | Increased by 0.01 percentage points | | R&D Investment as % of Operating Revenue (%) | 26.94 | 24.15 | Increased by 2.79 percentage points | - Total non-recurring gains and losses during the reporting period amounted to **RMB 10,941,784**, primarily from interest income of **RMB 11,894,781** from structured deposits[7](index=7&type=chunk) [Management Discussion and Analysis](index=5&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) This section reviews the company's industry, core business, R&D progress, competitive strengths, and operational performance [Industry and Main Business Overview](index=5&type=section&id=%E4%B8%80%E3%80%81%E5%91%8A%E6%9C%9F%E5%85%A7%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%AC%E8%A1%8C%E6%A5%AD%E5%8F%8A%E4%B8%BB%E7%87%9F%E6%A5%AD%E5%8B%99%E6%83%85%E6%B3%81%E8%AA%AA%E6%98%8E) The company specializes in biopharmaceutical R&D, production, and sales, with core revenue from three key products marketed via distribution - The Group is primarily engaged in the innovative research and development, manufacturing, and marketing of biopharmaceuticals, with main business revenue primarily derived from the sales of pharmaceutical products[9](index=9&type=chunk)[19](index=19&type=chunk) - The Group's main products currently on sale include dermatological products Aila® (aminolevulinic acid hydrochloride for external use) and Fumeida® (haematoporphyrin for injection), and the anti-tumor product Libaoduo® (pegylated liposomal doxorubicin hydrochloride for injection)[16](index=16&type=chunk)[17](index=17&type=chunk)[18](index=18&type=chunk) - The Group adopts a distribution sales model, with photodynamic drugs Aila® and Fumeida® marketed by its own team, while the anti-tumor drug Libaoduo® is marketed through a CSO (Contract Sales Organization)[22](index=22&type=chunk) [Core Technologies and R&D Progress](index=8&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E6%8A%80%E8%A1%93%E8%88%87%E7%A0%94%E7%99%BC%E9%80%B2%E5%B1%95) The company leverages four core technology platforms, investing **RMB 107.50 million** in R&D, with significant progress in ADC and new photodynamic drug indications - The company has formed four core technology platforms: gene engineering, photodynamic, nanotechnology, and oral solid preparation technology platforms, all developed independently[23](index=23&type=chunk) 2021 H1 R&D Investment (RMB Yuan) | Item | Current Period | Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Total R&D Investment | 107,503,707 | 56,903,236 | 88.92 | | R&D Investment as % of Operating Revenue (%) | 26.94 | 24.15 | Increased by 2.79 percentage points | | Capitalized R&D Investment as % | 8.59 | 4.45 | Increased by 4.14 percentage points | - Significant R&D achievements during the reporting period include: - Parecoxib Sodium for Injection obtained a Drug Registration Certificate[29](index=29&type=chunk) - Obeticholic Acid project received a Drug Clinical Trial Approval Notice[29](index=29&type=chunk) - Anti-Trop2 Antibody-Drug Conjugate (FDA018 for injection) received a Drug Clinical Trial Approval Notice[29](index=29&type=chunk) - The number of R&D personnel increased from **99** people to **127** people, raising their proportion of total company staff from **16.02%** to **18.22%**[35](index=35&type=chunk) [Core Competitiveness Analysis](index=14&type=section&id=%E4%B8%89%E3%80%81%E5%91%8A%E6%9C%9F%E5%85%A7%E6%A0%B8%E5%BF%83%E7%AB%B6%E7%88%AD%E5%8A%9B%E5%88%86%E6%9E%90) The company's strengths lie in R&D innovation, diverse technology platforms, market promotion, quality control, and a robust management team - The company's core competitiveness is based on an R&D orientation that addresses unmet clinical needs, with listed and pipeline projects less affected by policy changes[36](index=36&type=chunk) Core Technology Platforms and Pipeline Project Progress | Technology Platform | Project Name | Proposed Indication | Progress Achieved | | :--- | :--- | :--- | :--- | | Gene Engineering Technology | Anti-CD30 Antibody-Drug Conjugate | Oncology | Phase I Clinical Study | | | Anti-Trop2 Antibody-Drug Conjugate | Oncology | Phase I Clinical Study | | Photodynamic Technology | Haemoporfin | Port-wine Stains | Phase IV Clinical Study/US Registration in progress | | | Aminolevulinic Acid Hydrochloride | HPV-infected Cervical Diseases | Phase II Clinical Study | | | Aminolevulinic Acid Hydrochloride | Acne | Phase II Clinical Study | | Nanotechnology | Doxorubicin Hydrochloride Liposome | Oncology | Domestic Consistency Evaluation and US Registration in progress | | Oral Solid Preparation | JAK1 Inhibitor | Rheumatoid Arthritis | Phase I Clinical Study | | | Obeticholic Acid | Hepatobiliary Diseases | Confirmatory Clinical Study | - The company adheres to academic promotion as its primary marketing strategy and has established an online service system for doctor academic exchange and doctor-patient interaction using new media platforms like WeChat official accounts[39](index=39&type=chunk) [Discussion and Analysis of Operating Performance](index=17&type=section&id=%E5%9B%9B%E3%80%81%E7%B6%93%E7%91%86%E6%83%85%E6%B3%81%E7%9A%84%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) Operating revenue rebounded to **RMB 399 million**, up **69.36%** YoY, with core products contributing **99.6%** of sales - During the reporting period, the company achieved operating revenue of **RMB 399 million**, a year-on-year increase of **69.36%**[42](index=42&type=chunk) - The three core products, Aila® (for condyloma acuminata), Libaoduo® (for oncology), and Fumeida® (for port-wine stains), contributed **99.6%** to pharmaceutical product sales revenue[42](index=42&type=chunk) [Risk Factors](index=17&type=section&id=%E4%BA%94%E3%80%81%E9%A2%A8%E9%9A%AA%E5%9B%A0%E7%B4%A0) Key risks include long R&D cycles, product concentration, competition, policy changes, and potential loss of core technical personnel - New drug R&D involves long cycles, high costs, and significant uncertainty, and failure to successfully develop or obtain approval for pipeline products would result in losses on prior investments[43](index=43&type=chunk) - The company's product portfolio is relatively concentrated, with Aila®, Libaoduo®, and Fumeida® accounting for a large proportion of total revenue, exposing it to competitive pressures and drug price reduction risks[44](index=44&type=chunk)[45](index=45&type=chunk) - The stability of core technical personnel is crucial for the company, and their loss could adversely affect its core competitiveness and sustained profitability[46](index=46&type=chunk) [Key Operating Performance](index=19&type=section&id=%E5%85%AD%E3%80%81%E5%91%8A%E6%9C%9F%E5%85%A7%E4%B8%BB%E8%A6%81%E7%B6%93%E7%91%86%E6%83%85%E6%B3%81) H1 2021 saw full operational recovery, **69.36%** revenue growth, increased expenses, and significant investment in Shanghai Handu - Looking ahead, the company will continue to focus R&D resources on ADC drugs, photodynamic drugs, small molecule targeted drugs (such as JAK1 inhibitors), and nanomedicines, and plans to venture into neurological slow-release drugs and explore gene therapy[50](index=50&type=chunk)[51](index=51&type=chunk)[52](index=52&type=chunk) Financial Statement Item Variation Analysis (RMB Yuan) | Item | Current Period | Prior Year Period | Change (%) | Main Reason | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 399,037,102 | 235,614,896 | 69.36 | Sales rebound after pandemic control | | Selling Expenses | 184,117,626 | 117,516,961 | 56.67 | Increased with sales growth | | R&D Expenses | 98,267,565 | 54,373,006 | 80.73 | Increased R&D project investment | | Net Cash Flow from Investing Activities | -295,770,820 | -32,205,077 | 818.40 | Payment for capital injection and equity acquisition in Shanghai Handu | | Net Cash Flow from Financing Activities | -38,726,106 | 923,837,507 | -104.19 | Prior period included bank loans and A-share issuance proceeds | - During the reporting period, the company invested **RMB 266 million** to increase capital and acquire a total of **39.5663%** equity in Shanghai Handu, leading to a **428.13%** increase in long-term equity investments[62](index=62&type=chunk)[63](index=63&type=chunk) [Corporate Governance](index=29&type=section&id=%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86) This section details the company's shareholder meetings, equity incentive plans, and overall governance structure [Shareholder Meeting Information](index=29&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E6%9D%B1%E5%A4%A7%E6%9C%83%E6%83%85%E6%B3%81%E7%B0%A1%E4%BB%8B) The company held its 2020 AGM and A/H Share Class Meetings, approving the annual report, profit distribution, and H-share repurchase - The company held a general meeting of shareholders on May 27, 2021, approving various proposals including the "Company's 2021 Restricted Share Incentive Plan (Draft)" and a general mandate to the Board of Directors to repurchase H shares[70](index=70&type=chunk)[72](index=72&type=chunk) [Equity Incentive Plan](index=31&type=section&id=%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%AC%8A%E6%BF%80%E5%8B%B5%E8%A8%88%E5%8A%83) The company adopted a 2021 restricted share incentive plan, granting **32.77 million** shares to **258** grantees at **RMB 8.90** per share - The company adopted the 2021 Restricted Share Incentive Plan, proposing to grant **38 million** shares, accounting for approximately **3.64%** of the total share capital[75](index=75&type=chunk) - On July 22, 2021, the company initially granted **32.77 million** restricted shares to **258** grantees at a grant price of **RMB 8.90** per share[75](index=75&type=chunk)[76](index=76&type=chunk) [Environmental and Social Responsibility](index=34&type=section&id=%E7%92%B0%E5%A2%83%E8%88%87%E7%A4%BE%E6%9C%83%E8%B2%AC%E4%BB%BB) The company prioritizes environmental protection through strict waste treatment, energy-saving measures, and social contributions [Environmental Information](index=34&type=section&id=%E4%B8%80%E3%80%81%E7%92%B0%E5%A2%83%E4%BF%A1%E6%81%AF%E6%83%85%E6%B3%81) The company maintains strict environmental management, ensuring compliant waste treatment and promoting energy efficiency, with no reported violations - The company strictly processes wastewater, exhaust gas, and waste generated during production in accordance with national and local standards, and engages qualified entities for regular monitoring, with no related violations reported during the period[79](index=79&type=chunk) - The company formulated the "Energy and Resource Management Procedure" and implemented energy-saving and emission reduction measures through energy performance management and the renovation of water production equipment for waste heat utilization[82](index=82&type=chunk) - During the reporting period, the company donated **RMB 100,000** to the Gongshan Education Foundation in Nanjiang County, Bazhong City, Sichuan Province, to establish scholarships and grants supporting rural education revitalization[83](index=83&type=chunk) [Significant Matters](index=37&type=section&id=%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A0%85) This section covers the fulfillment of commitments made during the A-share IPO and the progress of raised funds utilization [Fulfillment of Commitments](index=37&type=section&id=%E4%B8%80%E3%80%81%E6%89%BF%E8%AB%BE%E4%BA%8B%E9%A0%85%E5%B1%A5%E8%A1%8C%E6%83%85%E6%B3%81) The company and major shareholders strictly fulfilled all A-share IPO commitments, including share lock-up and avoiding competition - Major shareholders including Shanghai Pharma, Xinqi Phase II, Yang Zongmeng, and Chairman Wang Haibo all committed to a **36 months** lock-up period from the date of A-share listing[84](index=84&type=chunk)[85](index=85&type=chunk) - Major shareholders such as Shanghai Pharma committed to avoiding horizontal competition, regulating related-party transactions, and made prudent arrangements for share reductions after the lock-up period expires[89](index=89&type=chunk)[90](index=90&type=chunk)[93](index=93&type=chunk) [Progress of Raised Funds Utilization](index=61&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%8B%9F%E9%9B%86%E8%B3%87%E9%87%91%E4%BD%BF%E7%94%A8%E9%80%B2%E5%B1%95%E8%AA%AA%E6%98%8E) As of June 30, 2021, **RMB 393 million** of A-share raised funds were used for key projects, with **RMB 96 million** over-raised funds for working capital Utilization of Raised Funds (As of June 30, 2021, RMB 10,000) | Planned Project | Budgeted Amount | Amount Used | Remaining Amount | | :--- | :--- | :--- | :--- | | Haemoporfin US Registration Project | 23,000.00 | 2,032.02 | 20,967.98 | | Biopharmaceutical Innovation R&D and Sustainable Development Project | 24,000.00 | 9,827.46 | 14,172.54 | | Acquisition of Minority Equity in Taizhou Fudan-Zhangjiang Project | 18,000.00 | 17,839.30 | 160.70 | | Over-raised Funds | – | 9,600.00 | 22,832.39 | | **Total** | **65,000.00** | **39,298.78** | **60,155.90** | [Share Changes and Shareholder Information](index=63&type=section&id=%E8%82%A1%E4%BB%BD%E8%AE%8A%E5%8B%95%E5%8F%8A%E8%82%A1%E6%9D%B1%E6%83%85%E6%B3%81) This section details changes in share capital and provides an overview of the company's shareholder structure [Share Capital Changes](index=63&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E6%9C%AC%E8%AE%8A%E5%8B%95%E6%83%85%E6%B3%81) Total share capital remained stable, but **167,577,060** restricted shares became tradable, altering the proportion of restricted vs. unrestricted shares - On June 21, 2021, a portion of the company's initially issued restricted shares, totaling **167,577,060** shares, became tradable after a **12 months** lock-up period[130](index=130&type=chunk) - After the reporting period, the company implemented an H-share repurchase, cumulatively repurchasing **1,469,000** shares, which, if cancelled, would slightly reduce total share capital and positively impact EPS and net assets per share[130](index=130&type=chunk) [Shareholder Information](index=66&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E6%9D%B1%E6%83%85%E6%B3%81) As of the reporting period end, the company had **21,885** shareholders, with HKSCC NOMINEES LIMITED, Shanghai Pharma, and Xinqi Phase II as top holders - As of the end of the reporting period, the company had a total of **21,885** ordinary shareholders, comprising **21,736** A-share holders and **149** H-share holders[132](index=132&type=chunk) Top Five Shareholders' Holdings (As of June 30, 2021) | Shareholder Name | Number of Shares Held at Period End | Proportion (%) | | :--- | :--- | :--- | | HKSCC NOMINEES LIMITED | 241,867,900 | 23.19 | | Shanghai Pharma Group Co., Ltd. | 210,142,560 | 20.15 | | Xinqi Phase II Venture Capital Enterprise | 156,892,912 | 15.04 | | Yang Zongmeng | 80,000,000 | 7.67 | | Wang Haibo | 57,886,430 | 5.55 | [Financial Statements](index=78&type=section&id=%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) This section presents the company's consolidated balance sheet, income statement, and cash flow statement [Consolidated Balance Sheet](index=78&type=section&id=%E5%90%88%E4%BD%B5%E8%B3%87%E7%94%A2%E8%B2%A0%E5%82%B5%E8%A1%A8) As of June 30, 2021, total assets were **RMB 2.479 billion**, with a slight decrease from year-end, while equity attributable to parent company shareholders increased Consolidated Balance Sheet Key Items (RMB Yuan) | Item | June 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Total Assets | 2,479,272,106 | 2,500,701,037 | | Total Liabilities | 453,915,407 | 492,211,194 | | Total Equity Attributable to Parent Company Shareholders | 2,028,213,577 | 2,010,930,752 | [Consolidated Income Statement](index=82&type=section&id=%E5%90%88%E4%BD%B5%E5%88%A9%E6%BD%A4%E8%A1%A8) H1 2021 saw **RMB 399 million** in operating revenue, up **69.36%** YoY, leading to a **125.20%** increase in net profit attributable to parent company shareholders Consolidated Income Statement Key Items (RMB Yuan) | Item | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Operating Revenue | 399,037,102 | 235,614,896 | | Operating Profit | 68,518,791 | 27,703,448 | | Total Profit | 66,786,868 | 27,996,722 | | Net Profit | 65,069,479 | 29,364,848 | | Net Profit Attributable to Parent Company Shareholders | 65,485,448 | 29,078,874 | [Consolidated Cash Flow Statement](index=85&type=section&id=%E5%90%88%E4%BD%B5%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) H1 2021 operating cash flow was **RMB 56.03 million**, with significant investing cash outflow due to equity investments Consolidated Cash Flow Statement Key Items (RMB Yuan) | Item | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 56,033,635 | 60,819,045 | | Net Cash Flow Used in Investing Activities | (295,770,820) | (32,205,077) | | Net Cash Flow (Used in)/Generated from Financing Activities | (38,726,106) | 923,837,507 | | Net (Decrease)/Increase in Cash | (278,495,510) | 952,502,846 | | Cash Balance at Period End | 1,118,394,682 | 1,529,302,256 |