证券代码：688526 证券简称：科前生物 公告编号：2023-024 武汉科前生物股份有限公司 关于召开 2022 年度业绩暨现金分红说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 副总经理、财务总监：钟鸣先生 武汉科前生物股份有限公司（以下简称"公司"）已于 2023 年 4 月 18 日发布公司 2022 年度报告，为便于广大投资者更全面深入地了 解公司 2022 年度经营成果、财务状况，公司计划于 2023 年 05 月 09 日 上午 11:00-12:00 举行 2022 年度业绩暨现金分红说明会，就投 资者关心的问题进行交流。 会议召开时间：2023 年 05 月 09 日(星期二) 上午 11:00- 12:00 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 04 月 29 日(星期六)至 05 月 08 日(星期 一)16:00 前登录上证路演中心网 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 279,514,834.18, representing a year-on-year increase of 37.92%[5] - The net profit attributable to shareholders for the same period was CNY 135,537,098.41, reflecting a growth of 49.33% compared to the previous year[10] - Basic and diluted earnings per share were both CNY 0.29, marking a 45.00% increase year-on-year[6] - Total operating revenue for Q1 2023 reached ¥279,514,834.18, a 38% increase from ¥202,659,616.48 in Q1 2022[20] - Net profit for Q1 2023 was ¥135,431,910.74, compared to ¥90,760,001.56 in Q1 2022, representing a 49% growth[21] - The company reported a total profit of ¥156,199,066.47 for Q1 2023, up from ¥102,776,638.28 in Q1 2022, marking a 52% increase[21] Cash Flow - The net cash flow from operating activities reached CNY 178,103,336.61, an increase of 67.43% due to higher sales revenue[6] - The net cash flow from operating activities for Q1 2023 was $178.1 million, an increase of 67.5% compared to $106.4 million in Q1 2022[24] - Cash inflow from operating activities in Q1 2023 was ¥358,807,595.18, compared to ¥296,350,484.11 in Q1 2022, indicating a 21% increase[23] - The net cash flow from investment activities was -$20.8 million, an improvement from -$92.1 million in Q1 2022[24] - Cash inflow from financing activities totaled $115.0 million, compared to $60.7 million in the same quarter last year, marking an increase of 89.5%[24] - The net increase in cash and cash equivalents for the quarter was $270.3 million, contrasting with a decrease of $14.2 million in the previous year[24] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 4,672,235,560.78, up 6.41% from the end of the previous year[6] - The company's total assets reached CNY 4,672,235,560.78, an increase from CNY 4,390,641,791.92 on December 31, 2022, reflecting a growth of approximately 6.4%[16] - The company's total liabilities increased to CNY 769,539,959.37 from CNY 623,841,368.92, representing a rise of about 23.3%[17] - Total liabilities as of Q1 2023 amounted to ¥1,037,789,459.81, an increase from ¥891,627,601.69 in the previous year[18] Research and Development - Research and development expenses totaled CNY 21,503,347.58, a decrease of 10.16% year-on-year, with R&D expenses accounting for 7.69% of operating revenue[6] - The company is actively engaged in the research and development of various veterinary vaccines, with multiple products in different stages of clinical trials and laboratory research[15] - The company has submitted clinical trial applications for several new vaccines, including a dual inactivated vaccine for swine fever and pseudorabies, indicating a focus on expanding its product portfolio[15] - The company invested a total of RMB 10,865,581.84 in the clinical trial of the genetically engineered live vaccine for pseudorabies in pigs[14] - The company reported an investment of RMB 13,267,253.59 in the laboratory research of the genetically engineered live vaccine for infectious bovine rhinotracheitis[14] - The company has a total of 10 ongoing research projects related to veterinary products, with varying stages of progress and investment amounts[14] Shareholder Information - The company had a total of 7,887 common shareholders at the end of the reporting period[12] - The top shareholder, Wuhan Huazhong Agricultural Assets Management Co., Ltd., held 16.73% of the shares, totaling 78,004,310 shares[12] - The company has a total of 10 major shareholders, with specific shareholding details disclosed in the report[13] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[20]

Financial Performance - The company reported a total revenue of 1,001.27 million RMB, a year-on-year decrease of 9.22%[1] - The main product, pig vaccines, generated revenue of 937.43 million RMB, down 11.30% compared to the previous year[1] - Total revenue decreased by 18.64% to 8,877,332.39 million RMB compared to the previous year[9] - The company reported a total revenue of 1.5 billion in 2022, representing a year-over-year growth of 10%[100] - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 25%[103] - The company reported a revenue of CNY 1,001,267,679.90 in 2022, a decrease of 9.22% compared to CNY 1,103,021,004.82 in 2021[196] - Net profit attributable to shareholders was CNY 409,518,439.60, down 28.25% from CNY 570,741,302.79 in the previous year[196] Operating Costs and Expenses - The company's operating costs increased by 18.62% to 264.23 million RMB[1] - Sales expenses rose by 19.38% to 159,884,797.12 RMB, while management expenses decreased by 10.78%[15] - The increase in costs is attributed to the second phase of the animal biological product industrialization project, leading to higher depreciation and energy costs[35] - The company reported a gross margin of 45%, which is an improvement from 42% in the previous year[100] - Operating expenses were reduced by 5% compared to the previous year, contributing to overall profitability[100] Research and Development - The company has invested nearly ¥240 million in R&D over the past three years, with 65 ongoing projects in 2022, including significant progress on the "Pig δ Coronavirus Inactivated Vaccine" project[36][38] - The company has obtained 41 national new veterinary drug certificates, with several innovations filling domestic gaps[38] - The company reported a research and development investment of 26,723.37 million RMB, accounting for 15.04% of operating revenue and 4.81% of net assets[48] - The company’s R&D investment as a percentage of operating revenue for the reporting period was 10.26%[48] - The company has established a leading R&D team in the domestic market and has obtained multiple new veterinary drug registration certificates, positioning itself at the forefront of the industry[177] Market and Sales Performance - The sales volume of pig live vaccines was 300,532.60 thousand doses, a decrease of 12.02% year-on-year[3] - The sales volume of pig inactivated vaccines increased by 12.22% to 480,079.60 thousand milliliters[3] - Revenue from pet vaccines increased significantly by 134.89% year-over-year, amounting to approximately ¥6.75 million, although the gross margin was negative at -1.58%[34][35] - The company is focused on expanding its market presence through the development of innovative products and potential acquisitions[28] - The company is expanding its market presence in pet vaccines, diagnostics, and ecological products, contributing to overall revenue growth[35] Inventory and Cash Flow - The company experienced a significant increase in inventory levels, particularly for pig live vaccines, which rose by 75.71%[3] - Net cash flow from operating activities decreased by 20.25% to 423,708,722.97 RMB[16] - The company extended the collection period for high-quality customers, impacting cash flow from operating activities[199] Acquisitions and Investments - The company acquired 95% of Wuhan Zhule Tianyuan Ecological Agriculture Co., Ltd., expanding its consolidation scope[10] - The company invested 52,750,000 RMB in equity investments during the reporting period, a decrease of 66.51% compared to the previous year[60] - The company plans to issue A-shares to specific targets, with a focus on enhancing sustainable development and market competitiveness[130] Governance and Management - The company has established a robust organizational structure, maintaining independence from the controlling shareholder in business, assets, personnel, and finance[82] - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with corporate governance regulations[81] - The company has implemented various information disclosure management systems to ensure timely and accurate communication with investors[82] Risks and Challenges - The company faced challenges due to the dual impact of African swine fever and COVID-19, leading to a reduction in customer numbers and overall revenue[2] - The company faces risks related to declining sales gross margins due to increased market competition and potential price reductions in vaccine products[159] - The company acknowledges the risks associated with regulatory changes in the veterinary drug industry, which could delay R&D progress and increase production costs[164] Future Outlook - The company provided a forward guidance of 1.8 billion in revenue for the next fiscal year, indicating a growth target of 20%[100] - The company plans to launch new products in the next quarter, targeting a 15% increase in market share[95] - The company aims to achieve a revenue growth target of 10% for the upcoming fiscal year[95]

Financial Performance - The company's operating revenue for Q3 2022 was ¥292,893,681.48, representing a year-on-year increase of 26.97%[8] - The net profit attributable to shareholders for Q3 2022 was ¥124,316,091.34, an increase of 24.61% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥116,998,185.12, reflecting a 19.49% increase year-on-year[8] - Total operating revenue for the first three quarters of 2022 was CNY 686,519,778.45, a decrease from CNY 775,730,840.29 in the same period of 2021[41] - Net profit for the third quarter of 2022 was CNY 283,242,940.68, down from CNY 385,906,499.83 in the same quarter of 2021[44] - Basic earnings per share for the third quarter of 2022 were CNY 0.61, compared to CNY 0.83 in the same quarter of 2021[47] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥4,112,287,808.95, a 10.39% increase from the end of the previous year[11] - The equity attributable to shareholders at the end of Q3 2022 was ¥3,362,357,143.43, which is a 6.62% increase compared to the previous year[11] - Total liabilities as of the reporting date were CNY 747,676,688.12, an increase from CNY 571,411,688.95 in the previous year[38] - Non-current liabilities totaled CNY 109,565,365.15, compared to CNY 79,167,052.81 in the previous year, reflecting growth[38] - The total current liabilities increased to CNY 70,057,000.00 from CNY 18,028,402.78, showing a significant rise of about 288.5%[36] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥331,129,993.39, a decrease of 30.11% compared to the previous year[11] - The net cash flow from operating activities was 331,129,993.39, a decrease of 30% compared to 473,820,698.63 from the previous period[51] - Cash inflow from investment activities totaled 1,087,055,180.09, up from 909,195,036.22, indicating a growth of approximately 19.6%[51] - The net cash flow from investment activities was -342,129,625.01, slightly worse than -314,670,837.11 from the previous period[51] - Cash inflow from financing activities was 79,984,913.26, down from 94,377,295.80, reflecting a decline of about 15.3%[52] - The net cash flow from financing activities was -84,584,534.30, an improvement compared to -115,994,664.61 in the previous period[52] Research and Development - The R&D investment totaled ¥20,721,031.10 for Q3 2022, an increase of 11.80% compared to the same period last year[11] - The R&D investment as a percentage of operating revenue was 7.07%, a decrease of 0.96 percentage points year-on-year[11] - The company has established a cooperation framework agreement with Huazhong Agricultural University for future R&D projects[24] - The company invested a total of RMB 9,630,743.93 in the research of the genetically engineered live vaccine for pseudorabies, with ongoing laboratory research[25] - The company has a cumulative investment of RMB 12,283,223.40 in the research of the genetically engineered live vaccine for infectious bovine rhinotracheitis, currently in laboratory research[25] - The company is actively involved in laboratory research for various vaccines, including the rabies virus inactivated vaccine, which is part of its ongoing product development strategy[27] Product Development - The company has obtained 39 new veterinary drug registration certificates, with 29 obtained through collaboration with Huazhong Agricultural University[24] - The company has registered 10 new veterinary drugs through third-party collaborations[24] - The company has invested RMB 8,100,512.69 in the research of the inactivated vaccine for porcine circovirus type 2 and Actinobacillus pleuropneumonia, with new veterinary drug registration achieved[25] - The company has invested RMB 468,859.81 in the research of the live vaccine for Mycoplasma bovis, with new veterinary drug registration achieved[25] - The company has invested RMB 616,943.07 in the research of the inactivated vaccine for porcine delta coronavirus, with new veterinary drug registration achieved[25] - The company is pursuing clinical trials for new vaccines, including the dual inactivated vaccine for swine fever and pseudorabies, indicating a focus on innovation and market expansion[36] Shareholder Information - The company has a total of 10,915,000 shares held by the controlling shareholder, Mu Yuan Industrial Group Co., Ltd.[23]

Financial Performance - The company reported a significant increase in revenue for the first half of 2022, with total revenue reaching CNY 200 million, representing a growth of 25% year-over-year[19]. - The company's operating revenue for the first half of the year was ¥393,626,096.97, a decrease of 27.78% compared to ¥545,046,578.13 in the same period last year[26]. - The net profit attributable to shareholders was ¥159,113,293.81, down 44.39% from ¥286,142,392.70 year-on-year[26]. - The basic earnings per share decreased by 45.16% to ¥0.34 from ¥0.62 in the previous year[27]. - The net cash flow from operating activities was ¥185,552,251.93, a decline of 33.35% compared to ¥278,410,459.53 last year[26]. - The company achieved a total revenue of 256.32 million, with a net profit of 221.47 million, reflecting a strong performance in the first half of 2022[120]. - The company reported a revenue of 393.63 million RMB for the first half of 2022, a decrease of 27.78% year-on-year[184]. - The net profit attributable to the parent company was 159.11 million RMB, down 44.39% compared to the previous year[184]. Research and Development - The company has allocated CNY 30 million for research and development in innovative technologies for the upcoming fiscal year[19]. - R&D investment accounted for 11.74% of operating revenue, an increase of 4.72 percentage points compared to 7.02% last year[30]. - The company has invested over 180 million RMB in R&D from 2019 to 2021, with over 46 million RMB invested in the first half of 2022, supporting 62 ongoing projects[80]. - The company has applied for 120 national invention patents, with 53 granted, including 7 granted in the first half of 2022[84][85]. - The company has established a high-level R&D center and a complete technology innovation platform, recognized by national authorities[128]. - The R&D team consists of 257 professionals covering various fields related to veterinary biological products, which supports the company's continuous innovation and development[135]. - The company has established a research and development system that combines independent innovation with industry-university-research cooperation, resulting in 49 approved veterinary drug products, with over 30 derived from its research achievements[135]. Product Development - New product development includes the launch of a novel vaccine, which is expected to contribute an additional CNY 50 million in revenue by the end of the year[19]. - The company has developed a diverse range of 49 veterinary biological products, focusing on high-quality and high-value animal biological products[37]. - New product developments include various vaccines for pigs, emphasizing safety and efficacy, such as the live vaccine for pseudorabies and the inactivated vaccine for pseudorabies[38]. - The company has launched a series of inactivated vaccines for pigs, including the Porcine Circovirus Type 2 vaccine, which features advanced antigen culture technology and high antibody levels[42]. - The company has developed a dual-subunit vaccine for Streptococcus suis and Actinobacillus pleuropneumonia, which has received a new veterinary drug certificate[79]. - The company is preparing for new veterinary drug registration for the porcine circovirus type 2 recombinant baculovirus inactivated vaccine, which has completed clinical trials[75]. - The company has successfully developed a rabies vaccine with an investment of $1.5 million, which is now in the industrial production phase, reinforcing its position in the veterinary vaccine sector[106]. Market Strategy - The company is planning to expand its market presence in Southeast Asia, targeting a 15% market share within the next two years[19]. - The company employs a "sales-driven production" model, aligning production plans with sales targets and maintaining safety stock[50]. - The company’s direct sales model targets large-scale pig farming enterprises with a minimum of 5,000 sows, ensuring a focused approach to customer selection[51]. - The sales strategy employs a "direct sales + distribution" model, effectively expanding the company's market influence and service radius[140]. - The company has established long-term stable partnerships with major enterprises in the industry, enhancing its market influence[144]. Financial Risks and Challenges - The decline in revenue and profit was primarily due to low pig prices and reduced sales volume as farmers' willingness to vaccinate decreased[30]. - The company faces risks related to the administrative licensing of its operational qualifications, which are essential for continuing its production and sales of veterinary biological products[161]. - The company is exposed to risks from the cyclical nature of pig prices, which can impact the willingness of farmers to purchase vaccines during low price periods[172]. - The sales gross margin for the company's pig vaccines has shown a decline from 83.74% in 2021 to 72.69% in the first half of 2022, indicating potential risks in profitability due to market competition[168]. Operational Efficiency - The gross profit margin for the first half of 2022 was reported at 45%, an improvement from 40% in the same period last year[19]. - Operating costs increased by 7.75% to 107.51 million RMB, attributed to increased depreciation from new fixed assets[185]. - The company continues to optimize its product structure and improve cost efficiency to enhance its resilience against market risks[145]. - The company has established a comprehensive quality management system to mitigate product quality risks, which are critical for maintaining brand reputation[166]. Acquisitions and Collaborations - A strategic acquisition of a local biotech firm is in progress, which is anticipated to enhance the company's R&D capabilities and product offerings[19]. - The company has obtained 29 new veterinary drug registration certificates through collaboration with Huazhong Agricultural University[180]. - The company faces risks related to the termination of cooperation with Huazhong Agricultural University, which could negatively impact product development[178].

Financial Performance - The company's operating revenue for 2021 was approximately ¥1.10 billion, representing a year-on-year increase of 30.81% due to the expansion of customer operations and increased demand for pig vaccines[26]. - The net profit attributable to shareholders for 2021 was approximately ¥570.74 million, reflecting a year-on-year growth of 27.45%[26]. - The net cash flow from operating activities increased by 32.77% year-on-year, amounting to approximately ¥531.27 million, primarily due to increased cash receipts from sales[29]. - The company's total assets at the end of 2021 were approximately ¥3.73 billion, a 19.75% increase compared to the end of 2020[26]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥3.15 billion, showing a growth of 16.43% year-on-year[26]. - Basic earnings per share for 2021 were ¥1.23, an increase of 6.03% compared to 2020[26]. - The company reported a significant increase in sales revenue from pig vaccines, reaching CNY 1,056,889,522.94, a year-on-year growth of 29.85%[177]. - The company achieved operating revenue of CNY 1,103,021,004.82, a year-on-year increase of 30.81%[168]. - The net profit attributable to the parent company was CNY 570,741,300, representing a year-on-year growth of 27.45%[168]. Research and Development - The R&D expenditure as a percentage of operating revenue was 7.25%, an increase of 0.24 percentage points from the previous year[26]. - The company increased its R&D expenditure to 80.00 million RMB, a growth of 35.42% year-on-year, supporting ongoing innovation and product development[42]. - The company has invested over 180 million yuan in R&D over the past three years, with 52 ongoing projects in 2021, including significant progress in the development of vaccines for porcine circovirus type 2 and Actinobacillus pleuropneumonia[96]. - The R&D team consists of 284 professionals covering fields such as preventive veterinary medicine, animal medicine, and microbiology, providing a strong foundation for continuous innovation and development[137]. - The company has established a high-level R&D center and a complete technology innovation platform, recognized by multiple government departments, including the establishment of a postdoctoral research workstation in September 2015[130]. - The company has established a CRISPR/Cas9 gene editing technology platform, with a genetically engineered vaccine for PRV already approved for safety evaluation[92]. - The company has developed a multi-valent vaccine technology platform, allowing for the prevention of multiple diseases with a single vaccine, thus reducing immunization frequency and costs[92]. - The company has filed a total of 112 national invention patent applications, with 46 granted as of December 2021[96]. Market Position and Strategy - The company is focused on developing high-quality and high-value-added animal biological products, with a completed product layout in poultry vaccines, pet vaccines, and diagnostic reagents[52]. - The company has established a specialized technical service team to drive sales through technology and service, maintaining a high gross margin[62]. - The company has achieved a leading position in the domestic market for several of its new veterinary drugs and vaccines, indicating strong growth potential[112]. - The company has established long-term stable cooperative relationships with universities and research institutes, enhancing the efficiency of technology industrialization[135]. - The company is actively expanding into new business sectors, including pet biological products and micro-ecological preparations, achieving good results[47]. - The company has developed multiple innovative products, including the HB-98 strain live vaccine and HB2000 strain heat-resistant live vaccine, which are more suitable for China's local pig farming industry[138]. - The company has launched the WH-1 strain and AJ1102 strain dual inactivated vaccine, which is the first officially approved variant strain vaccine for porcine epidemic diarrhea in China[139]. Operational Efficiency - The company has implemented a stock incentive plan for 168 employees, accounting for 19.81% of the total workforce, granting 3.71 million shares to enhance employee motivation[41]. - The company completed 12 process improvement projects and implemented 5 product transitions, further enhancing product quality stability[38]. - The annual procurement timeliness rate reached 91.23%, ensuring the orderly supply of epidemic prevention and production materials[40]. - The company has a robust procurement system to ensure the stability and reliability of its supply chain, adhering to GMP standards[63]. - The production model is based on "sales-driven production + safety stock," ensuring product quality and availability[64]. Risks and Challenges - The company faces risks related to technological innovation and potential talent loss, which could impact its R&D capabilities and market position[150]. - The company is at risk of performance decline due to fluctuations in the pig farming industry, which is influenced by cyclical price changes and disease outbreaks[158]. - The company is exposed to tax policy risks, as it benefits from a reduced corporate income tax rate of 15% as a high-tech enterprise, which is subject to change[157]. - The company may experience adverse effects on its operations if key researchers from Huazhong Agricultural University cease their collaboration[164]. - The company faces potential risks if it cannot renew its veterinary drug GMP certificates and production licenses, which are valid for five years[151]. Corporate Governance - The audit report issued by Huaxing Accounting Firm was a standard unqualified opinion[7]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[10]. - There are no violations of decision-making procedures regarding external guarantees[10]. - The company has not disclosed any special arrangements for corporate governance[12].

Financial Performance - The company's operating revenue for Q1 2022 was ¥202,659,616.48, representing a decrease of 36.46% compared to the same period last year[6] - Net profit attributable to shareholders was ¥90,765,951.22, down 46.28% year-over-year[6] - The net profit after deducting non-recurring gains and losses was ¥86,898,785.47, reflecting a decline of 48.01%[6] - Basic and diluted earnings per share were both ¥0.20, down 44.44% compared to the previous year[9] - The total comprehensive income attributable to the parent company for Q1 2022 was CNY 90,765,951.22, a decrease from CNY 168,950,625.50 in Q1 2021, representing a decline of approximately 46.3%[41] - The net profit for Q1 2022 was ¥91,165,591.78, down from ¥168,328,095.29 in Q1 2021, representing a decline of approximately 46%[55] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 57.29% to ¥106,372,713.71 due to reduced sales[6] - The net cash flow from operating activities for Q1 2022 was ¥117,957,462.19, a decrease of 52.7% compared to ¥248,853,850.18 in Q1 2021[57] - Cash received from the sale of goods and services in Q1 2022 was CNY 280,089,466.12, a decrease of 30.9% compared to CNY 406,470,039.22 in Q1 2021[41] - The company's cash and cash equivalents were CNY 546,907,502.65, slightly down from CNY 555,361,532.31 in the previous year, indicating a decrease of about 1%[28] - The total cash and cash equivalents at the end of Q1 2022 were CNY 536,416,247.50, down from CNY 684,752,837.04 at the end of Q1 2021, reflecting a decrease of approximately 21.7%[46] - The net cash outflow from investing activities for Q1 2022 was CNY -92,065,332.12, compared to CNY -5,345,327.22 in Q1 2021, indicating a significant increase in investment expenditures[43] Research and Development - Research and development expenses totaled ¥23,935,906.03, an increase of 13.77% year-over-year, accounting for 11.81% of operating revenue, up 5.21 percentage points[9] - The company is actively engaged in the research and development of various vaccines, including a new vaccine for African swine fever, with a registered amount of CNY 557,518.72[23] - The company has multiple ongoing laboratory studies, including a rabies vaccine with a registered amount of CNY 969,994.79[27] - Research and development expenses for Q1 2022 were CNY 23,935,906.03, up from CNY 21,038,754.76 in Q1 2021, indicating a focus on innovation[36] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,814,661,793.00, a 2.40% increase from the end of the previous year[9] - Total liabilities amounted to CNY 569,925,817.46, slightly down from CNY 571,411,688.95 in the previous period[33] - The total assets increased to ¥3,790,544,740.08 in Q1 2022, up from ¥3,657,708,372.89 in Q1 2021, marking an increase of approximately 4%[51] - The total liabilities rose to ¥547,692,104.91 in Q1 2022, compared to ¥506,021,329.50 in Q1 2021, indicating an increase of about 8%[51] Shareholder Information - The total number of common shareholders at the end of the reporting period is 10,510[17] - The largest shareholder, Wuhan Huazhong Agricultural Assets Management Co., Ltd., holds 78,004,310 shares, accounting for 16.77% of the total shares[17] - The top ten shareholders include Chen Huan Chun and Jin Mei Lin, who hold 15.23% and 7.89% of shares, respectively[17] - The company has no pledged, marked, or frozen shares among the top ten shareholders[17] Market Conditions - The decline in operating revenue was attributed to a decrease in vaccine procurement willingness among farmers due to market conditions[14]

Financial Performance - The company's operating revenue for Q3 2021 was ¥230,684,262.16, a decrease of 7.42% compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2021 was ¥99,764,687.76, down 27.10% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥97,914,722.20, a decrease of 26.21% compared to the previous year[10]. - Total operating revenue for the first three quarters of 2021 reached ¥775,730,840.29, an increase of 28.4% compared to ¥604,280,090.12 in the same period of 2020[40]. - Net profit for the first three quarters of 2021 was ¥385,906,499.83, representing a growth of 24.5% from ¥309,739,673.87 in the same period of 2020[43]. - The net profit attributable to the parent company's shareholders was approximately ¥385.91 million, an increase from ¥319.74 million in the previous year, representing a growth of about 20.7%[46]. - The total comprehensive income attributable to the parent company's owners was approximately ¥385.91 million, compared to ¥319.74 million in the same period last year, reflecting a year-over-year increase of approximately 20.7%[49]. Research and Development - The company's R&D investment totaled ¥18,534,290.75 for the quarter, representing 8.03% of operating revenue, an increase of 1.76 percentage points year-on-year[10]. - The company reported a significant increase in R&D investment by 39.16% year-to-date, reflecting a commitment to product development[18]. - The company has obtained 37 new veterinary drug registration certificates, with 29 achieved through collaboration with Huazhong Agricultural University[26]. - The total investment in the research and development of the inactivated vaccine for duck Tembusu virus (DF2 strain) reached CNY 2,841,584.56, resulting in the acquisition of a new veterinary drug certificate[27]. - The company is currently in the clinical trial phase for the pig infectious gastroenteritis, pig epidemic diarrhea, and pig delta coronavirus trivalent inactivated vaccine[29]. - The company has invested CNY 7,389,377.72 in the research of the pig pseudorabies gE deletion inactivated vaccine, which has successfully obtained a new veterinary drug certificate[29]. - The company has signed a cooperation research framework agreement with Huazhong Agricultural University, ensuring competitive negotiation for future R&D projects[26]. - The company has established a management system for cooperative R&D, ensuring compliance with disclosure requirements for projects with Huazhong Agricultural University[26]. - The company has invested CNY 1,521,716.97 in the approval of standards for the African swine fever virus real-time fluorescence PCR detection kit[27]. - The company is in the new veterinary drug registration review stage for the pig circovirus type 2 and Actinobacillus pleuropneumonia bivalent inactivated vaccine[27]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,642,376,911.53, an increase of 17.08% from the end of the previous year[10]. - The total equity attributable to shareholders at the end of the reporting period was ¥2,961,439,090.75, up 9.34% from the previous year[10]. - Cash and cash equivalents as of September 30, 2021, amounted to ¥2,023,044,110.34, an increase of 5.8% from ¥1,913,957,581.53 at the end of 2020[34]. - Inventory as of September 30, 2021, was ¥115,059,745.91, up 62.0% from ¥71,069,415.33 at the end of 2020[34]. - Total liabilities as of September 30, 2021, were ¥680,393,401.41, up 69.2% from ¥402,401,915.72 at the end of 2020[40]. - The company reported a significant increase in accounts receivable, which rose to ¥191,639,389.05, a 25.3% increase from ¥152,885,424.94 at the end of 2020[34]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥473,820,698.63, an increase of 32.01% year-on-year[10]. - Cash inflow from operating activities totaled approximately ¥871.71 million, up from ¥632.25 million, marking an increase of approximately 37.8%[48]. - The net cash flow from operating activities was approximately ¥473.82 million, compared to ¥358.92 million in the previous year, representing an increase of about 32%[52]. - Cash inflow from investment activities was approximately ¥909.20 million, significantly higher than ¥155.54 million in the previous year, indicating a substantial increase of about 484.5%[52]. - The net cash flow from investment activities was negative at approximately -¥314.67 million, an improvement from -¥745.80 million in the previous year[52]. - The net increase in cash and cash equivalents was approximately ¥43.16 million, a significant decrease from ¥828.46 million in the previous year[54]. - The ending balance of cash and cash equivalents was approximately ¥514.21 million, down from ¥884.50 million in the previous year[54]. - The company reported a cash outflow from financing activities of approximately ¥210.37 million, compared to an inflow of ¥1,218.26 million in the previous year, indicating a significant change in financing strategy[52]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 11,076[19]. - The company has a total of 3,844,400 shares available for trading without restrictions, following strategic placement by China Merchants Securities[25]. - The company has a total of 16,800,000 shares held by Muyuan Industrial Group, accounting for 3.61% of total shares[22]. - Basic and diluted earnings per share were both ¥0.83, a decrease from ¥0.87 in the previous year, indicating a decline of about 4.6%[49].

Financial Performance - The company reported a total revenue of 100 million RMB for the first half of 2021, representing a year-on-year increase of 20%[17]. - The net profit attributable to shareholders was 30 million RMB, up 15% compared to the same period last year[17]. - The company's operating revenue for the first half of the year reached ¥545,046,578.13, representing a 53.49% increase compared to ¥355,111,276.22 in the same period last year[24]. - Net profit attributable to shareholders increased by 56.45% to ¥286,142,392.70 from ¥182,896,507.41 year-on-year[24]. - The net profit after deducting non-recurring gains and losses rose by 53.96% to ¥278,537,455.21 compared to ¥180,910,678.36 in the previous year[24]. - The net cash flow from operating activities increased significantly by 139.20% to ¥278,410,459.53 from ¥116,390,076.01 year-on-year[24]. - The management has provided a revenue guidance of 220 million RMB for the full year 2021, indicating a growth target of 25%[17]. - The company achieved a total revenue of approximately $18.77 million for the research on pseudorabies virus vaccines and diagnostic reagents, with a net profit of about $2.20 million, indicating a strong performance in laboratory research[84]. - The company achieved a total revenue of 244.27 million, with a net profit of approximately 165.63 million, reflecting a strong performance in the first half of 2021[96]. Research and Development - Research and development expenses increased by 30% to 15 million RMB, reflecting the company's commitment to innovation[17]. - The R&D investment as a percentage of operating revenue was 7.02%, slightly down from 7.10% year-on-year[24]. - The company has invested over 140 million yuan in R&D since 2019, with 47 ongoing projects as of 2021, including significant progress on the "Pig δ Coronavirus Inactivated Vaccine" project[71]. - R&D expenses for the current period reached 38,263,524 yuan, a 51.87% increase compared to the previous period's 25,195,610 yuan[76]. - The company has established multiple core technology platforms, including pathogen and epidemiology research, gene editing, and high-efficiency expression technology, enhancing its R&D capabilities[65]. - The company has established a high-level R&D center and has been recognized by various government departments, including being designated as a National Enterprise Technology Center in December 2019[106]. - The R&D team consists of 181 professionals covering fields such as preventive veterinary medicine and animal science, providing a strong foundation for continuous innovation[111]. - The company has established multiple innovation platforms, including a national enterprise technology center and key laboratories, enhancing its R&D capabilities[71]. Market Expansion and Product Development - The company plans to launch two new products in Q3 2021, aiming to capture an additional 10% market share in the next year[17]. - The company is actively expanding its market presence and product offerings in the fields of poultry vaccines and pet vaccines[33]. - The company has developed a range of inactivated vaccines for pigs, including those for swine fever and porcine reproductive and respiratory syndrome, enhancing its product portfolio[38]. - The company is focused on continuous R&D to introduce new products that meet market demands, maintaining its competitive edge[42]. - The company is advancing the research on a dual-subunit inactivated vaccine for porcine circovirus type 2 and Actinobacillus pleuropneumonia, with a revenue of $6.4 million and a net profit of $513,069[87]. - The company is committed to reducing antibiotic usage in livestock through the development of innovative products and technologies[84]. - The company has launched new products, including a vaccine for porcine reproductive and respiratory syndrome, contributing to market expansion[100]. - The company is developing a broad-spectrum antimicrobial peptide product, which is expected to be effective against various pathogens without developing resistance, positioning it as an alternative to antibiotics[92]. Risk Management - The company has identified key risks including regulatory changes and market competition, which could impact future performance[5]. - The company faces risks related to technological innovation and talent retention, which could impact its research and development capabilities[139]. - The company must ensure compliance with regulatory requirements for veterinary drug production, including obtaining necessary licenses and certifications[140]. - The company is exposed to industry risks, particularly from the recurring African swine fever, which could impact overall demand for veterinary biological products[146]. - Regulatory changes in the veterinary drug industry may lead to increased production costs and delays in R&D progress[145]. Corporate Governance and Compliance - The board of directors has confirmed that the financial report is accurate and complete, ensuring transparency for investors[7]. - The company has made commitments regarding the absence of false records, misleading statements, or significant omissions in its prospectus and other disclosure materials[189]. - The company has committed to avoiding conflicts of interest and ensuring compliance with related party transactions[194]. - The company has established long-term commitments regarding the avoidance of conflicts of interest among its major shareholders[194]. - The company has committed to not transferring or entrusting the management of its pre-IPO shares for 36 months from the date of listing on the Sci-Tech Innovation Board[189]. Environmental Responsibility - The company has committed to environmental protection laws and has taken measures to manage pollution sources effectively, with all monitoring reports meeting relevant standards[182]. - The company has implemented a self-monitoring plan for emissions, conducted annually in accordance with discharge permits[179]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[180]. - The wastewater treatment facility has been operational since July 2013 and is functioning normally, ensuring compliance with environmental standards[176].

Financial Performance - Operating revenue for the period was CNY 318,927,420.10, representing an increase of 82.31% year-on-year[11] - Net profit attributable to shareholders was CNY 168,950,625.50, up 82.47% from the same period last year[11] - Basic earnings per share increased by 38.46% to CNY 0.36[11] - Total operating revenue for Q1 2021 was RMB 318,927,420.10, a 82.2% increase from RMB 174,932,713.89 in Q1 2020[44] - Net profit for Q1 2021 reached RMB 168,950,625.50, compared to RMB 92,592,590.72 in Q1 2020, representing an increase of 82.4%[47] - Operating profit for Q1 2021 was RMB 194,451,741.36, up from RMB 108,505,803.66 in Q1 2020, marking a growth of 79.3%[47] Cash Flow - Net cash flow from operating activities was CNY 249,064,874.40, a significant increase of 141.39% compared to the previous year[11] - Cash flow from operating activities for the first quarter of 2021 was RMB 249,064,874.40, up from RMB 103,178,083.85 in the first quarter of 2020, indicating a significant improvement[55] - The total cash inflow from operating activities was RMB 414,865,153.69 in the first quarter of 2021, compared to RMB 171,250,176.11 in the same period of 2020, reflecting strong operational performance[55] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,359,818,537.41, an increase of 8.00% compared to the end of the previous year[11] - The company's accounts receivable increased by 37.90% to approximately ¥210.83 million as of March 31, 2021, compared to ¥152.89 million at the end of 2020, mainly due to increased sales volume[22] - The company's inventory rose by 30.32% to approximately ¥92.62 million as of March 31, 2021, up from ¥71.07 million at the end of 2020, attributed to increased stocking in response to higher sales[22] - The company's total liabilities reached approximately $482.35 million, up from $402.40 million, indicating an increase of about 19.9%[35] - Current liabilities rose to approximately $433.38 million, up from $354.18 million, indicating a growth of about 22.3%[35] Research and Development - R&D investment accounted for 6.60% of operating revenue, a slight decrease of 0.08 percentage points from the previous year[11] - Research and development expenses for Q1 2021 were approximately ¥21.04 million, an increase of 79.98% compared to ¥11.69 million in Q1 2020, reflecting the company's commitment to enhancing R&D efforts[26] - Research and development expenses for Q1 2021 were RMB 21,038,754.76, compared to RMB 11,689,573.82 in Q1 2020, showing an increase of 79.5%[44] Shareholder Information - The total number of shareholders at the end of the reporting period was 9,008[17] - The largest shareholder, Wuhan Huazhong Agricultural University Asset Management Company, held 16.78% of the shares[17] Investment and Financial Activities - The company reported a significant increase in investment income of 658.41% to approximately ¥1.22 million in Q1 2021, compared to ¥0.16 million in Q1 2020, resulting from the maturity of structured deposits[26] - The company's financial expenses increased by 130.40% to approximately -¥13.08 million in Q1 2021, compared to -¥5.68 million in Q1 2020, primarily due to increased interest on deposits[26] - The net cash flow from investing activities was negative at RMB -5,345,327.22 for the first quarter of 2021, compared to RMB -15,306,082.93 in the same period of 2020, showing improved investment efficiency[55] Comprehensive Income - The company’s total comprehensive income for the first quarter of 2021 was RMB 168,328,095.29, reflecting a strong financial position[51]