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].