Financial Performance - The company's operating revenue for Q1 2022 was ¥268,954,445.02, representing a year-on-year increase of 21.56%[6] - The net profit attributable to shareholders for Q1 2022 was ¥53,801,911.59, reflecting a growth of 24.28% compared to the same period last year[6] - The net profit after deducting non-recurring gains and losses was ¥41,879,428.99, with a year-on-year increase of 23.99%[6] - Basic and diluted earnings per share for Q1 2022 were both ¥0.45, up by 25.00% compared to the same period last year[9] - The company reported a total comprehensive income of ¥53,801,911.59 for Q1 2022, compared to ¥43,292,471.03 in Q1 2021, reflecting a growth of 24.3%[36] Cash Flow - The net cash flow from operating activities was ¥37,228,404.83, showing a significant increase of 32.50% year-on-year[6] - The company reported an increase in cash flow from operating activities primarily due to increased sales receipts[14] - Total cash inflow from operating activities amounted to 320,187,766.56, compared to 278,516,932.87, indicating an increase of about 15%[40] - Cash outflow from operating activities totaled 282,959,361.73, up from 250,420,942.31, representing an increase of around 13%[40] - The net cash flow from investing activities was -512,688,220.48, an improvement from -871,690,550.73 in the previous period[40] - The net cash flow from financing activities was 29,861,694.44, a significant improvement from -257,062.53 in the previous period[42] Assets and Liabilities - The total assets at the end of Q1 2022 amounted to ¥2,861,798,804.03, which is a 3.12% increase from the end of the previous year[9] - Total liabilities as of the end of the reporting period were ¥515,961,055.44, up from ¥483,601,755.82, reflecting a growth of 6.5%[34] - Total current liabilities increased from 432,458,963.97 RMB to 464,865,439.18 RMB, an increase of about 7.5%[28] - Total equity attributable to shareholders of the parent company was ¥2,345,837,748.59, an increase from ¥2,291,664,728.59, showing a growth of 2.4%[34] Shareholder Information - Total number of common stock shareholders at the end of the reporting period is 7,161[18] - The largest shareholder, Wang Ying, holds 41,900,000 shares, representing 34.89% of total shares[18] Research and Development - The company's R&D investment totaled ¥53,296,057.20, representing 19.82% of operating revenue, an increase of 0.93 percentage points year-on-year[9] - Research and development expenses for Q1 2022 amounted to ¥45,192,135.02, compared to ¥41,794,134.64 in Q1 2021, marking an increase of 8.6%[34] Inventory and Receivables - Accounts receivable decreased from 112,427,878.56 RMB to 94,449,255.47 RMB, a reduction of approximately 16%[25] - Inventory increased from 103,682,790.76 RMB to 121,148,058.49 RMB, an increase of about 16.8%[25] Non-Recurring Items - Non-recurring gains and losses for the period totaled ¥11,922,482.60, with government subsidies included amounting to ¥5,805,651.10[12]

Financial Performance - The company's operating revenue for 2021 was CNY 1,022,935,588, an increase of 10.96% compared to CNY 921,918,474 in 2020[27]. - The net profit attributable to shareholders for 2021 was CNY 232,427,615, representing a growth of 30.46% from CNY 178,161,834 in 2020[27]. - The net cash flow from operating activities was CNY 147,596,571, a decrease of 5.70% compared to CNY 156,524,544 in 2020[27]. - The company's total assets at the end of 2021 were CNY 2,775,266,484, reflecting a 9.66% increase from CNY 2,530,857,158 at the end of 2020[27]. - The company's net assets attributable to shareholders increased by 9.37% to CNY 2,291,664,728 at the end of 2021 from CNY 2,095,247,258 at the end of 2020[27]. - The basic earnings per share for 2021 were CNY 1.94, up 8.99% from CNY 1.78 in 2020[27]. - The company reported a total revenue of 49,026.73 million, with a net profit of 24,270.87 million for the reporting period[113]. - Net profit attributable to the parent company reached 232,427,600 RMB, with a year-on-year increase of 30.46%[145]. - Total assets at the end of the reporting period amounted to 2,775,266,500 RMB, an increase of 9.66% compared to the beginning of the period[145]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 20.41% in 2021 from 16.69% in 2020, an increase of 3.72 percentage points[27]. - Research and development (R&D) investment amounted to 208.74 million yuan, accounting for 20.41% of operating revenue, reflecting the company's commitment to innovation[40]. - R&D investment totaled ¥208,742,801.20, a 35.63% increase from the previous year, driven by an increase in personnel and experimental costs[92]. - The proportion of R&D investment to operating income rose to 20.41%, an increase of 3.71 percentage points compared to the previous year[92]. - The company has over 50 ongoing projects, with 20% being innovative drug projects, including one chemical new drug in Phase III clinical trials and one biological new drug in Phase I clinical trials[124]. - The company invests over 16% of its sales revenue annually in R&D, ensuring continuous innovation and development[123]. - The company has established a complete quality management system for drug development and commercial production, with its raw material drug factory certified by the US FDA and EU EMA[128]. - The company has launched 9 products in the anesthesia and analgesia field and has over 20 projects in the pipeline, establishing a competitive product line in this area[124]. Product Development and Pipeline - The company launched new products such as Dabiqagrel and Palifermin, contributing to sales growth[27]. - The company is advancing the clinical trials of several new drugs, including the completion of Phase II trials for the small molecule new drug Yaglitin Tablets and the initiation of Phase III trials[41]. - The company received registration certificates for three new drugs, including Dabigatran Etexilate Capsules, and submitted 16 registration applications for formulations and raw materials[42]. - The company has multiple Class 1 biopharmaceuticals in development, with the self-developed EP-9001A monoclonal injection having completed IND application and approved for Phase I clinical trials[64]. - The company has developed a unique abuse-deterrent formulation technology for the morphine and naloxone sustained-release capsule, which is the first of its kind approved by the National Medical Products Administration in China[100]. - The company is focusing on expanding its product pipeline with a variety of new drug candidates, including those targeting pain management and oncology[100]. Market and Competitive Position - The company has a strong market presence, with three of its major products ranking first in market share among public hospitals in key provinces and cities in China[76]. - The company focuses on high-end generic drugs, leveraging specialized technologies to develop products with technical barriers and policy thresholds[65]. - The company is actively expanding its international pipeline, particularly in the specialty antidote field, with EP-0084A&I receiving CGT qualification from the FDA in April 2021[68]. - The company is enhancing its sales model by improving its distribution network and academic promotion strategies to adapt to national drug procurement policies[70]. - The company plans to leverage national centralized procurement opportunities to enhance product sales potential and expand into secondary and tertiary markets[166]. Risks and Challenges - The company has detailed various risks and countermeasures in its annual report, emphasizing the importance of investor awareness[5]. - The company faces risks from national volume-based procurement and adjustments in medical insurance payments, which may lead to price reductions for some products[134]. - Future uncertainties in the global economic environment, particularly due to the COVID-19 pandemic and geopolitical tensions, may adversely affect the company's operations[143]. - The company faced risks related to industry policy changes and technological iterations, which could impact its operational strategies[140][141]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Zhonghui Certified Public Accountants[6]. - The company's board of directors and supervisory board members have confirmed the accuracy and completeness of the annual report[6]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated any decision-making procedures regarding external guarantees[9]. - The company has not proposed any bonus shares or capital reserve transfers to increase share capital[6]. Strategic Initiatives - The company is focusing on key areas such as oncology, cardiovascular diseases, and diabetes, which are highlighted in the "14th Five-Year" plan for the pharmaceutical industry[193]. - The company is adapting to the national policy of centralized drug procurement, which emphasizes competition and the integration of similar drugs[196]. - The introduction of DRG/DIP payment reforms is expected to influence medical insurance payment methods and clinical practices, prompting the company to enhance its product portfolio[200]. - The company has signed cooperation agreements with innovative pharmaceutical companies to enhance its product pipeline and market competitiveness[46].

Financial Performance - The company's operating revenue for Q3 2021 was ¥274,735,003.12, representing a year-on-year increase of 15.53%[7] - The net profit attributable to shareholders for Q3 2021 was ¥68,732,494.54, showing a significant increase of 77.22% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥31,691,075.23, with an increase of 8.87% year-on-year[7] - The basic earnings per share for Q3 2021 was ¥0.57, up 46.15% compared to the same period last year[10] - Total operating revenue for the first three quarters of 2021 reached ¥773,436,181.18, an increase of 14.93% compared to ¥672,755,703.53 in the same period of 2020[35] - Net profit for the third quarter of 2021 was ¥186,075,903.15, up 48.82% from ¥124,861,472.73 in the third quarter of 2020[38] - Earnings per share for the third quarter were ¥1.55, compared to ¥1.34 in the same quarter of the previous year, reflecting a growth of 15.66%[40] - The company reported a significant increase in investment income to ¥14,453,402.64, compared to ¥3,811,178.13 in the previous year, marking a growth of 278.66%[38] Assets and Liabilities - The total assets at the end of the reporting period reached ¥2,740,283,925.73, reflecting an increase of 8.27% from the end of the previous year[10] - The company reported a total asset increase to CNY 2,740,283,925.73 as of September 30, 2021, up from CNY 2,530,857,158.85 at the end of 2020, representing an increase of approximately 8.26%[25] - Total liabilities amounted to ¥493,882,030.49, compared to ¥435,609,899.90 in the previous reporting period, reflecting an increase of 13.33%[34] - The company's total assets reached ¥2,740,283,925.73, up from ¥2,530,857,158.85, indicating a growth of 8.26%[34] - The company’s total current liabilities decreased significantly, with short-term borrowings reported at CNY 40,028,171.23 as of September 30, 2021[30] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥144,363,177.82, representing a substantial increase of 91.46% year-on-year[10] - Cash flow from operating activities was ¥815,557,529.00, an increase from ¥690,920,875.31 in the same period last year, showing a growth of 18.06%[42] - Cash received from operating activities totaled $909,989,358.80, an increase from $745,953,906.44[46] - Cash received from other operating activities was $75,577,372.28, compared to $49,226,830.50 last year[46] - Net cash flow from operating activities increased to $144,363,177.82, up from $75,402,330.31 year-over-year[46] Research and Development - Research and development expenses totaled ¥53,531,673.35 for the quarter, accounting for 19.48% of operating revenue, which is an increase of 1.08 percentage points year-on-year[10] - Research and development expenses increased to ¥147,822,178.55, representing a rise of 34.76% from ¥109,608,757.89 in the previous year[35] - The company has made significant progress in its drug development pipeline, with the phase II clinical trial of the drug Yogerletin showing effective control of HbA1c levels in patients with type 2 diabetes[20] - The company received approval for the clinical trial of EP-9001A injection, a novel monoclonal antibody drug targeting human nerve growth factor, indicating advancement in its oncology product line[21] Government Support and Investments - The company received government subsidies amounting to ¥42,496,440.88 during the quarter, contributing to the increase in net profit[11] - The company plans to change the use of CNY 61 million of unutilized fundraising for the marketing network construction project to increase capital for its wholly-owned subsidiary, ShuoDe Pharmaceutical[24] Inventory and Receivables - The company’s inventory increased to CNY 89,850,571.76 from CNY 84,029,013.29, reflecting a growth of approximately 6.67%[29] - The company’s receivables increased slightly, with accounts receivable at CNY 123,921,003.60 compared to CNY 121,298,288.19, showing a growth of about 2.15%[29] Cash and Cash Equivalents - Cash and cash equivalents decreased to CNY 210,384,310.95 from CNY 1,055,289,158.05, indicating a significant reduction of about 80.17%[25] - The company's cash and cash equivalents at the end of the period stood at $179,999,752.81, down from $1,412,759,103.07[48]

Financial Performance - The company reported a semi-annual revenue of RMB 0 million for the first half of 2021, indicating no revenue generation during this period[20]. - The company's operating revenue for the first half of the year reached ¥498,701,178.06, representing a 14.65% increase compared to ¥434,960,631.37 in the same period last year[27]. - Net profit attributable to shareholders was ¥117,343,408.61, a 36.32% increase from ¥86,076,789.80 year-on-year[27]. - The net cash flow from operating activities was ¥63,375,926.37, up 11.22% from ¥56,984,183.28 in the previous year[27]. - The company's total assets increased to ¥2,580,557,399.86, a 1.96% rise from ¥2,530,857,158.85 at the end of the previous year[27]. - The company reported non-recurring gains of ¥33,560,980.15, primarily from government subsidies and investment income[31]. - The company achieved a revenue of 49,870.12 million RMB, representing a year-on-year growth of 14.65%[105]. - The net profit attributable to the parent company was 11,734.34 million RMB, an increase of 36.32% compared to the previous year[105]. - The company’s cash flow from operating activities increased by 11.22% to 569.84 million, primarily due to increased revenue and cash receipts[135]. Research and Development - The R&D investment as a percentage of operating revenue rose to 18.91%, an increase of 3.77 percentage points compared to 15.14% in the previous year[30]. - The company has over 10 Class 1 innovative drugs in development, with 3 currently undergoing clinical trials, including the oral long-acting hypoglycemic drug, Yogeritin tablets, which has completed Phase II trials and is in the clinical summary stage[38]. - The company has successfully commercialized 26 high-end chemical drugs, including 4 domestic first-generic products and 15 that have passed consistency evaluation[35]. - The company is currently developing a monoclonal antibody injection (EP-9001A) targeting bone metastatic pain, with a total investment scale of ¥154.36 million[75]. - The company has completed 2 Phase II clinical trials and 1 Phase I clinical trial for its drug candidates, indicating significant progress in its R&D pipeline[75]. - The company has initiated a major new drug creation project under the supervision of the National Health Commission, focusing on innovative drug transfer and transformation[69]. - The company is focusing on expanding its product line in the cardiovascular and oncology sectors, with several new products in the pipeline[10][12]. - The company has received production approval for multiple products, including EP-0001C, which has a market value of approximately $2.68 billion and has overcome original research preparation process patents[10]. Corporate Governance and Compliance - The board of directors confirmed that the semi-annual report is accurate and complete, with no significant omissions or misleading statements[3]. - The report is unaudited, and the responsible persons have confirmed the authenticity of the financial report[5]. - There are no non-operational fund occupations by controlling shareholders or related parties reported[7]. - The company has not faced any violations in decision-making procedures regarding external guarantees[7]. - There are no special arrangements for corporate governance reported[6]. - The company emphasizes the importance of investor awareness regarding forward-looking statements and associated risks[6]. - The company has established internal control systems for environmental management, including waste management and hazardous waste disposal, ensuring compliance with relevant laws and standards[164]. - The company has committed to transparency and compliance with all relevant laws and regulations regarding related party transactions[199]. Environmental Responsibility - The company has committed to green development and sustainable practices, focusing on reducing emissions and ensuring compliance with environmental standards[175]. - The company has conducted regular environmental monitoring through qualified third-party units, with no instances of exceeding emission standards reported[170]. - The company has received environmental impact assessment approvals for various projects, indicating compliance with environmental regulations[166]. - The company has implemented emergency response plans for environmental incidents, which have been registered with local environmental authorities[169]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[171]. Market Strategy and Future Outlook - The company is actively pursuing strategic transformation towards innovation, with a focus on developing both innovative and generic drugs to enhance competitiveness in the pharmaceutical industry[52]. - The company is considering strategic acquisitions to enhance its product portfolio, with a target of acquiring two companies by Q4 2021[184]. - The company is focusing on enhancing its marketing system, resulting in continuous sales growth for key products like ibandronate sodium injection and caffeine citrate injection[114]. - The company provided an optimistic outlook for the next quarter, projecting a revenue increase of 20% to 1.44 billion[183]. - Future guidance includes maintaining a minimum growth rate of 15% for the next two fiscal years[183]. Shareholder Commitments - The company has committed to not transferring or entrusting the management of its shares for 36 months post-IPO, ensuring stability in shareholding[185]. - The company will adhere to regulations regarding share reduction, limiting any reduction to 1% of total shares in a 90-day period for centralized bidding and 2% for block trading[188]. - If the company's stock price falls below the issue price for 20 consecutive trading days within 6 months post-IPO, the lock-up period will automatically extend by 6 months[190]. - Shareholders are restricted to selling no more than 1% of the total shares held in any 90-day period through centralized bidding and no more than 2% through block trading[194]. - The company commits to adhering to all relevant laws and regulations regarding share transfers and reductions[193].

Financial Performance - Operating revenue for the period was CNY 221,248,014.12, representing a year-on-year growth of 25.42%[12] - Net profit attributable to shareholders was CNY 43,292,471.03, up 41.04% from the same period last year[12] - The net cash flow from operating activities was CNY 28,095,990.56, an increase of 41.49% year-on-year[12] - Basic and diluted earnings per share were both CNY 0.36, a 5.88% increase from the previous year[12] - Total revenue for Q1 2021 reached ¥221,248,014.12, a 25.4% increase from ¥176,410,215.89 in Q1 2020[47] - Operating profit for Q1 2021 was ¥46,894,554.16, up 39.0% from ¥33,723,445.41 in Q1 2020[47] - Net profit for Q1 2021 was ¥43,292,471.03, representing a 41.0% increase compared to ¥30,694,258.24 in Q1 2020[50] - The total comprehensive income for the first quarter of 2021 was ¥28,396,454.65, compared to ¥21,861,452.59 in the first quarter of 2020, representing an increase of approximately 29.3%[56] Research and Development - R&D investment accounted for 18.89% of operating revenue, an increase of 4.25 percentage points compared to the previous year[12] - Research and development expenses increased by 61.78% to ¥41,794,134.64 from ¥25,834,212.50, reflecting continued investment in ongoing projects[26] - Research and development expenses increased to ¥41,794,134.64 in Q1 2021, up 62.0% from ¥25,834,212.50 in Q1 2020[47] Cash Flow and Investments - Cash and cash equivalents decreased by 79.96% to ¥211,431,335.46 from ¥1,055,289,158.05 due to the use of idle funds for purchasing financial products[22] - Cash inflow from operating activities totaled ¥278,516,932.87, up from ¥223,440,668.39 in the same period last year, indicating a growth of about 24.7%[59] - The net cash flow from investment activities was -¥871,690,550.73, compared to -¥73,321,386.02 in the first quarter of 2020, showing a deeper cash outflow[59] - The company experienced a net decrease in cash and cash equivalents of ¥843,857,822.59 during the first quarter of 2021, compared to a decrease of ¥57,396,216.49 in the same period last year[62] Shareholder Information - The total number of shareholders at the end of the reporting period was 9,268[14] - The top shareholder, Wang Ying, held 34.89% of the shares, totaling 41,900,000 shares[14] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,556,132,835.15, an increase of 1.00% compared to the end of the previous year[12] - Total liabilities decreased from ¥435,609,899.90 to ¥417,233,414.10, a reduction of approximately 4.0%[36] - Total assets increased from ¥2,103,426,558.46 to ¥2,206,617,274.19, representing a growth of about 4.9%[41] - The company reported a total current asset of ¥961,690,630.23, up from ¥857,335,008.28, an increase of approximately 12.2%[40] - The total non-current assets slightly decreased from ¥1,246,091,550.18 to ¥1,244,926,643.96, a reduction of about 0.1%[40] Other Financial Metrics - The weighted average return on equity decreased by 2.27 percentage points to 2.04%[12] - Financial income increased significantly, with investment income rising by 159.84% to ¥3,628,468.37 from ¥1,396,409.14, mainly due to increased financial product returns[26] - The company reported a significant increase in special reserves by 648.16% to ¥415,184.96 from ¥55,493.89, reflecting the provision for special reserves during the period[26] - Long-term deferred expenses increased by 35.10% to ¥4,617,310.50 from ¥3,417,644.80, mainly due to increased renovation costs[26] - Contract liabilities decreased by 48.73% to ¥8,442,779.45 from ¥16,468,559.73, attributed to revenue recognition[26]

Financial Performance - The company's operating revenue for 2020 was RMB 921,918,474.02, a decrease of 2.67% compared to 2019[28]. - The net profit attributable to shareholders for 2020 was RMB 178,161,834.51, an increase of 64.04% year-on-year[33]. - The net cash flow from operating activities for 2020 was RMB 156,524,544.27, representing a 10.36% increase from the previous year[28]. - The total assets at the end of 2020 were RMB 2,530,857,158.85, a 156.40% increase compared to the end of 2019[31]. - The basic earnings per share for 2020 was RMB 1.78, up 47.11% from RMB 1.21 in 2019[32]. - The company's net assets attributable to shareholders increased by 200.42% to RMB 2,095,247,258.95 at the end of 2020[31]. - The company's main business revenue decreased by 2.72% to 921.48 million yuan, primarily due to significant price reductions in certain drugs[144]. - The net profit attributable to the parent company was 178.16 million yuan, a year-on-year increase of 64.04%[136]. - Government subsidies accounted for 33.98% of the total profit, amounting to 67.64 million yuan during the reporting period[135]. Dividend and Share Capital - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares, totaling approximately RMB 36,027,000, which represents 20.22% of the net profit attributable to shareholders for 2020[6]. - As of December 31, 2020, the total share capital of the company was 120,090,000 shares[6]. - The company does not plan to issue bonus shares or convert capital reserves into share capital[6]. - The company issued 30,090,000 shares in 2020, raising a total of RMB 1,334,792,400.00[33]. Research and Development - Research and development expenses accounted for 16.69% of operating revenue in 2020, slightly up from 16.53% in 2019[32]. - The total R&D investment for the year was approximately ¥153.91 million, a decrease of 1.70% compared to the previous year[71]. - R&D investment accounted for 16.69% of total operating revenue, an increase of 0.16 percentage points from the previous year[71]. - The company has independently undertaken four major new drug creation projects and holds 78 authorized patents, including 14 international patents, showcasing its robust R&D capabilities[59]. - The company has a strong pipeline of innovative drugs, including the EP-0061I + EP-0061A project, which is a controlled substance with high development difficulty[82]. - The company is committed to innovation-driven development as a core strategy since its establishment[196]. - The company has established a comprehensive R&D model, focusing on clinical needs and leveraging international cooperation for innovative drug development[49]. Market Position and Strategy - The company aims to become a global leader in specialty patented prescription drugs, targeting unmet clinical needs in key therapeutic areas[44]. - The company is positioned to capitalize on the shift towards innovative drug development, particularly in addressing major diseases and rare conditions[63]. - The company has established a comprehensive quality management system, becoming the first in Southwest China to pass the new GMP certification for sterile preparations[103]. - The company is enhancing its distribution network to cover secondary and tertiary markets, leveraging opportunities from national drug procurement policies[53]. - The company is focusing on innovation and transformation in response to competitive pressures from national procurement and the COVID-19 pandemic, aiming to establish a differentiated advantage in the market[63]. Risks and Compliance - The company has detailed various risks and countermeasures in its annual report, emphasizing the importance of investor awareness regarding investment risks[4]. - The company is facing risks related to core technology not forming products or not meeting expectations, which could impact its competitive edge[121]. - The company is exposed to risks from government-led centralized procurement, which could lead to significant price reductions for its products[125]. - There are no violations of decision-making procedures regarding external guarantees[11]. Production and Sales - The production volume of Fumaric Acid Bisoprolol Tablets reached 2,496.26 million boxes, an increase of 115.32% year-on-year, while sales volume was 2,005.76 million boxes, up 62.38% year-on-year[148]. - The sales volume of Ibuprofen Injection increased significantly by 314.68% year-on-year, with production volume at 267.84 million units[148]. - The total sales revenue from the top five customers amounted to 48,069.06 million yuan, accounting for 52.14% of the annual total sales[156]. - The company achieved total operating revenue of 921.92 million yuan, a year-on-year decrease of 2.67%[136]. Financial Health - Cash and cash equivalents at the end of the period amounted to ¥1,055,289,158.05, representing 41.70% of total assets, an increase of 161.17% compared to the previous period[168]. - The company's short-term borrowings increased by 752.62% to ¥40,028,171.23, reflecting an increase in bank loans during the year[171]. - The company's accounts payable rose by 139.83% to ¥122,731,998.27, primarily due to an increase in payable engineering costs during the reporting period[171]. - Deferred income increased by 302.00% to ¥50,334,863.16, attributed to an increase in government subsidies related to assets received during the period[171]. Government Policies and Industry Trends - The pharmaceutical industry in China is expected to maintain stable growth due to increasing demand driven by economic development and an aging population[54]. - The National Medical Insurance Bureau adjusted the drug list, adding 119 new drugs and removing 29, resulting in a total of 2800 drugs in the directory[183]. - The adjustment is expected to reduce patient burdens by approximately 28 billion yuan in 2021 through negotiated price reductions and insurance reimbursements[183]. - The new drug list includes 96 exclusive drugs, most of which were negotiated for price reductions, promoting innovation in the pharmaceutical industry[183].

Financial Performance - Net profit attributable to shareholders increased by 31.53% to CNY 124,861,472.73 year-on-year[18]. - The company reported a net profit attributable to shareholders of RMB 124,861,472.73, an increase of 31.53% compared to RMB 94,929,397.80 from the previous year, driven by increased sales of Fumaric Acid Bisoprolol tablets and new product launches[37]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 93,521,317.36, reflecting a significant increase of 67.61% from RMB 55,796,130.69 in the same period last year[37]. - The net profit for Q3 2020 was CNY 38,784,682.93, a significant increase compared to CNY 15,728,634.62 in Q3 2019, representing a growth of approximately 146.5%[63]. - The company reported a net profit margin improvement, with net profit for the first three quarters of 2020 at approximately ¥335.29 million, compared to ¥212.11 million in the same period of 2019, an increase of about 58%[56]. Revenue and Income - Operating income decreased by 0.80% to CNY 672,755,703.53 compared to the same period last year[18]. - Total revenue for Q3 2020 was approximately ¥237.80 million, an increase from ¥202.87 million in Q3 2019, representing a growth of about 17.2%[59]. - The total revenue for the first three quarters of 2020 reached CNY 386,212,718.99, up from CNY 296,992,153.82 in the same period of 2019, indicating a year-over-year increase of about 30%[64]. Assets and Liabilities - Total assets increased by 144.00% to CNY 2,408,513,827.47 compared to the end of the previous year[18]. - The total assets as of the reporting date were approximately ¥2.05 billion, significantly up from ¥644.66 million in the previous year, marking an increase of approximately 218.5%[56]. - The total liabilities increased to ¥362,750,141.17 from ¥289,637,532.71, marking an increase of about 25.2%[49]. - The company's total liabilities amounted to RMB 61,231,914.85, indicating a manageable debt level[93]. Cash Flow - Net cash flow from operating activities decreased by 45.18% to CNY 75,402,330.31 year-to-date[18]. - Cash flow from operating activities generated a net amount of 75,402,330.31, down from 137,534,099.40 in the previous year[73]. - Cash inflow from operating activities totaled 745,953,906.44, a decrease from 794,969,214.53 year-over-year[73]. - Cash flow from financing activities generated a net inflow of 1,265,454,261.20, compared to a net outflow of 18,553,152.00 in the previous year[75]. Shareholder Information - The total number of shareholders reached 13,591 at the end of the reporting period[27]. - The largest shareholder, Wang Ying, holds 41,900,000 shares, representing 34.89% of the total shares[27]. - Basic and diluted earnings per share increased by 27.62% to CNY 1.34[21]. - Basic and diluted earnings per share were both 0.50, up from 0.26 in the same period last year[69]. Research and Development - R&D expenses accounted for 16.29% of operating income, a decrease of 1.01 percentage points compared to the previous year[21]. - Research and development expenses for Q3 2020 amounted to approximately ¥43.74 million, compared to ¥41.49 million in Q3 2019, reflecting an increase of about 5.4%[59]. - Research and development expenses for Q3 2020 were CNY 32,086,388.02, a decrease from CNY 37,215,250.94 in Q3 2019, showing a reduction of about 13.3%[64]. Inventory and Construction - The company’s inventory increased to RMB 81,512,310.85, a rise of 34.93% from RMB 60,412,899.64, attributed to increased production stockpiling[32]. - The company’s construction in progress increased to RMB 299,440,590.88, a rise of 179.31% from RMB 107,205,948.73, reflecting increased investment in IPO projects[32]. Government Subsidies and Non-Recurring Items - Government subsidies recognized in the current period amounted to CNY 10,225,144.99[19]. - Non-recurring gains and losses totaled CNY 9,674,378.27 year-to-date[26].