Revenue and Profitability - Revenue for Q3 2021 reached ¥49,160,202.57, an increase of 70.35% compared to the same period last year[5] - Net profit attributable to shareholders was -¥31,767,200.47, a decrease of 25.09% year-on-year[5] - The net profit for the quarter was a loss of ¥127,465,744.41, an improvement from a loss of ¥163,022,523.14 in the same period last year[42] - The company reported a net loss attributable to shareholders of the parent company of ¥127,324,268.01, compared to a loss of ¥162,047,679.19 in the previous year[42] - The total comprehensive income attributable to the parent company was -129,962,216.67 CNY, a decrease from -177,187,414.71 CNY in the previous period, reflecting a significant decline[45] - Basic and diluted earnings per share were both -0.1417 CNY, compared to -0.1803 CNY in the previous period, indicating a slight improvement[45] Cash Flow and Financial Activities - The company reported a net cash flow from operating activities of -¥148,080,273.01, a decline of 12.25% compared to the same period last year[5] - Cash inflows from operating activities totaled 118,889,034.79 CNY, up from 86,289,492.37 CNY in the previous period, showing a growth of approximately 37.6%[49] - Cash outflows from operating activities amounted to 266,969,307.80 CNY, compared to 218,207,079.28 CNY in the previous period, representing an increase of about 22.3%[49] - The net cash flow from operating activities was -148,080,273.01 CNY, worsening from -131,917,586.91 CNY in the previous period[49] - The net cash flow from investing activities was 9,780,628.46 CNY, a recovery from -7,744,086.85 CNY in the previous period[49] - The net cash flow from financing activities was 32,436,493.08 CNY, slightly down from 34,903,454.17 CNY in the previous period[49] - The company received 20,000,000.00 CNY in borrowings during the financing activities, a decrease from 35,000,000.00 CNY in the previous period[49] - The impact of exchange rate changes on cash and cash equivalents was -2,917,255.38 CNY, an improvement from -9,037,651.96 CNY in the previous period[49] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,181,350,672.75, down 8.90% from the end of the previous year[5] - The company’s equity attributable to shareholders decreased to ¥830,896,196.55, a decline of 13.55% compared to the previous year[5] - The total liabilities and equity amounted to ¥1,181,350,672.75, down from ¥1,296,817,917.19[38] - The total current liabilities increased to ¥347,525,975.92 from ¥332,600,788.33, marking an increase of approximately 4%[38] - Current liabilities totaled 332,600,788.33, showing a decrease of 5,222,284.78 compared to the previous period[59] - Total liabilities increased to 332,600,788.33, with a rise of 14,734,556.72 from the last reporting period[59] Research and Development - R&D investment increased to ¥20,863,756.28, representing a growth of 71.32% year-on-year, reflecting the company's focus on new product and technology development[11] - Research and development expenses rose to ¥12,621,987.78, compared to ¥5,595,884.74 in the prior year, reflecting a growth of approximately 126%[39] Shareholder Information - The total number of common shareholders at the end of the reporting period is 52,918[12] - The largest shareholder, China Oceanwide Holdings, holds 25.98% of shares, totaling 235,702,593 shares[12] Strategic Investments and Acquisitions - The company has completed the acquisition of a 5.05% stake in Yiyong Technology for RMB 24.6 million and plans to increase its stake to 10.02% with an additional investment of RMB 57.4 million[17] - The company will invest RMB 12 million to increase its stake in China Medical and Pharmaceutical Emergency Guarantee Platform to 8%[20] - A strategic cooperation framework agreement was signed with Miaojian Health to leverage both companies' strengths in healthcare services[21] - The company provided a guarantee of up to RMB 10 million for its wholly-owned subsidiary, Beijing Haixie Zhikang Technology Development Co., Ltd.[22] - The company has increased its wholly-owned subsidiary, Beijing Yihong Medical Technology Service Co., Ltd., with an investment of USD 35 million[23] Incentive Plans and Future Targets - The company has established a long-term incentive plan to attract and retain talent, with performance indicators including a compound annual growth rate of revenue not less than 45%, 41.3%, and 37.8% compared to 2019[24] - The company aims for revenue targets of RMB 396.06 million, RMB 517.87 million, and RMB 645.50 million for the years 2022 to 2024, reflecting high growth potential[24] Other Financial Metrics - The company recorded a significant increase in other income, totaling ¥114,727.56, up 40.05% year-on-year[11] - The company’s financial expenses rose to ¥18,835.52, a significant increase due to reduced interest income from bank deposits[11] - The company’s retained earnings decreased to ¥51,535,196.77 from ¥179,148,203.74, indicating a decline of about 71%[38] - Other comprehensive income after tax showed a loss of ¥2,637,948.66, compared to a loss of ¥15,139,735.52 in the prior year[42] - The company has completed the first grant of its restricted stock incentive plan, increasing total shares from 898,822,204 to 907,215,204[27] - The company attempted to sell a 45% stake in Guangdong Haihong for a minimum price of RMB 137.73 million, but the project has been withdrawn due to lack of qualified buyers[28] - The company received approval for its stock incentive plan from the State-owned Assets Supervision and Administration Commission in April 2021[26]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥52,629,413.09, representing a 32.01% increase compared to ¥39,866,270.32 in the same period last year[26]. - The net profit attributable to shareholders was -¥95,557,067.54, an improvement of 20.13% from -¥119,637,777.35 in the previous year[26]. - The net cash flow from operating activities was -¥120,544,967.19, which is a 9.09% decline compared to -¥110,502,638.12 in the same period last year[26]. - The total assets at the end of the reporting period were ¥1,177,886,454.69, down 9.17% from ¥1,296,817,917.19 at the end of the previous year[26]. - The net assets attributable to shareholders decreased by 10.18%, from ¥961,147,152.18 to ¥863,255,155.56[26]. - The basic earnings per share improved by 20.14%, from -¥0.1331 to -¥0.1063[26]. - The diluted earnings per share also showed a 20.14% improvement, remaining at -¥0.1063[26]. - The weighted average return on net assets was -10.48%, a decline from -8.85% in the previous year[26]. - The company's operating costs increased to ¥85,104,639.46, a rise of 2.87% from ¥82,732,208.77 in the previous year[62]. - The net cash flow from investing activities saw a significant increase of 1,088.51%, reaching ¥48,965,266.99, mainly due to the disposal of certain financial assets[65]. - The company's investment income surged by 6,508.65% to ¥5,634,724.30, compared to ¥85,262.88 in the previous year, attributed to the recovery of project funds[68]. - The total revenue for the reporting period was 92.52 billion, with a net profit of -6.51 billion, indicating a significant loss[83]. Strategic Initiatives - The company focuses on a strategy of "one body, two wings, dual drive, and digital empowerment," aiming to become a leader in digital health insurance and services[35]. - The company has introduced a payment reform that shifts from "fee-for-service" to "value-based payment," including DRGs and DIP payment methods, to improve fund management efficiency[39]. - The company launched the first APG outpatient payment model in China in collaboration with Jinhua's health insurance department, promoting comprehensive management of health insurance funds[39]. - The company aims to enhance the quality of regional medical services through a smart regulatory platform and a multi-level evaluation system[39]. - The company is actively expanding its market presence and adapting to policy changes in the healthcare sector, focusing on the implementation of new payment mechanisms and regulatory frameworks[47]. - The company has set a strategic plan for the next 3 to 5 years focusing on "digital medical insurance" as the core, supported by "digital healthcare" and "digital pharmaceuticals" as wings[48]. Technological Advancements - The intelligent audit service, a core advantage of the company, achieves audit speeds at the millisecond level and is currently leading in coverage and technical capabilities in the domestic market[36]. - The company has developed a big data anti-fraud system that identifies 11 types of fraud risk behaviors, enhancing the service capabilities of health insurance management departments[36]. - The hospital big data medical operation management service system aims to optimize hospital revenue, costs, service, and quality under the composite payment reform policy, enhancing data quality and risk management[40]. - The DRG/DIP grouping intelligent detection and early warning system supports the implementation of national medical insurance payment reforms, achieving real-time cost monitoring and risk prediction[43]. - The hospital intelligent management system provides analysis of medical insurance payment settlements and cost control, utilizing a multi-indicator comprehensive early warning model[43]. - The digital pharmaceutical services include a comprehensive regulatory service system that enhances drug safety and quality monitoring through integrated information systems[43]. - The chronic disease management service integrates internet and big data tools to create a comprehensive health management platform for chronic diseases[46]. Market and Competition - The company is facing increased competition in the health insurance sector and aims to maintain its competitive edge through product innovation and market expansion[93]. - The company has successfully launched the APG outpatient payment project, the first of its kind in China, establishing an industry benchmark and expanding its pilot demonstration effect[51]. - The company has served over 1 million customers through its online and offline services, with more than 10 million service instances across nearly 30 provinces[52]. Human Resources and Governance - The company plans to optimize its talent structure and enhance its strategic human resource management to mitigate financial risks[93]. - The company has implemented employee incentive measures to enhance performance and retention[98]. - The company has formed a strong clinical professional team, with 74% of members holding senior physician qualifications, enhancing its talent support system[59]. - The annual shareholders' meeting had a participation rate of 27.62%[96]. Shareholder and Equity Information - The company plans to grant a total of 11.66 million restricted shares under the first phase of its stock incentive plan, accounting for 1.30% of the total share capital of 89,882.22 million shares[100]. - The first grant will not exceed 9.33 million shares, representing 1.04% of the total share capital and 80.02% of the total granted rights[100]. - The largest shareholder, China Oceanwide Holdings Group Co., Ltd., held 26.22% of shares, totaling 235,702,593 shares[157]. - As of June 30, 2021, the total number of common shareholders was 53,543[151]. Compliance and Legal Matters - The company has not faced any administrative penalties related to environmental issues during the reporting period[103]. - There are no significant lawsuits or arbitration matters reported during the period[115]. - The company has not engaged in any related party transactions during the reporting period[118]. - The half-year financial report has not been audited[113].

Financial Performance - The company's operating revenue for Q1 2021 was ¥27,415,350.34, representing a 59.58% increase compared to ¥17,179,989.05 in the same period last year[8] - The net profit attributable to shareholders was -¥56,262,309.65, a decrease of 20.96% from -¥71,182,370.62 year-on-year[8] - The net cash flow from operating activities was -¥84,141,757.17, reflecting a decline of 54.60% compared to -¥54,425,286.59 in the previous year[8] - The basic earnings per share improved by 20.97% to -¥0.0626 from -¥0.0792 in the same period last year[8] - The weighted average return on equity was -6.03%, slightly down from -5.99% year-on-year[8] - Cash received from sales and services rose by 100.80% to 10,863,336.28 million, reflecting increased business operations[23] - The net loss for the period was CNY 56,375,139.39, compared to a net loss of CNY 71,176,624.89 in the previous period, showing an improvement of approximately 20.7%[72] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,222,606,634.79, down 5.72% from ¥1,296,817,917.19 at the end of the previous year[8] - The total liabilities of the company were CNY 315,790,356.98, compared to CNY 332,600,788.33, showing a reduction of approximately 5.1%[56] - The company's current assets totaled CNY 949,954,077.31, down from CNY 1,030,392,782.03, indicating a decrease of about 7.8%[50] - The total assets decreased slightly from CNY 1,369,096,863.02 to CNY 1,367,173,924.13, a reduction of about 0.14%[66] - The total liabilities increased from CNY 453,951,443.49 to CNY 455,559,664.37, reflecting a rise of approximately 0.35%[66] Shareholder Information - The company reported a total of 54,511 common shareholders at the end of the reporting period[13] - The largest shareholder, China Oceanwide Holdings Group Co., Ltd., held 26.22% of the shares, totaling 235,702,593 shares[13] - The equity attributable to the owners of the parent company decreased to CNY 903,859,130.87 from CNY 961,147,152.18, a decline of about 5.9%[59] Government Support and Subsidies - The company received government subsidies amounting to ¥152,771.82 during the reporting period[8] Inventory and Contract Assets - Inventory increased by 117.01% to 22,711.44 million due to increased purchases during the reporting period[20] - Contract assets rose by 61.98% to 20,878,048.89 million, primarily due to revenue growth[20] Financial Expenses and Income - Financial expenses surged by 109.56% to 260,979.38 million, attributed to reduced interest income and increased short-term borrowing costs[20] - Investment income increased by 393.53% to 1,271,190.76 million, resulting from the disposal of certain financial assets[20] - The company reported a significant amount in other receivables, totaling approximately $550.15 million, which includes dividend receivables of about $14.35 million[104] Cash Flow and Expenditures - Cash outflow from operating activities totals CNY 96,712,586.54, compared to CNY 67,496,281.81 in the previous period, leading to a net cash flow from operating activities of -CNY 84,141,757.17[87] - The company recorded cash inflow from investment activities of CNY 9,258,869.04, while cash outflow for investment activities was CNY 10,258,263.48, resulting in a net cash flow of -CNY 999,394.44[87] - The ending balance of cash and cash equivalents is CNY 402,764,350.63, down from CNY 660,641,920.89 in the previous period[89] Stock Incentive Plan - The stock incentive plan aims to grant up to 11.66 million restricted shares, accounting for 1.30% of the total share capital of 898.82 million shares[28] - Performance targets for the stock incentive plan include a compound annual growth rate of revenue not less than 45% from 2019, with projected revenues of RMB 396.06 million, RMB 517.87 million, and RMB 645.50 million for 2022, 2023, and 2024 respectively[28] - The stock incentive plan is pending approval from the State-owned Assets Supervision and Administration Commission before submission to the shareholders' meeting[28] Investment and Fair Value - The total initial investment cost for securities reached 202,252.10 million, with a fair value change of 44,736.97 million during the reporting period[39] - The report indicates a net profit loss of 304.74 million for Huaren Beer, with a fair value measurement of 2,163.22 million[39] - The total fair value of securities for the company was 12,677.00 million at the end of the reporting period[35] Compliance and Audit - The company has not undergone an audit for the first quarter report, which may affect the reliability of the financial data presented[107] - The company has implemented new leasing standards starting in 2021, which may impact future financial reporting[108]

Financial Performance - Operating revenue for the reporting period reached CNY 28,857,583.08, representing a 30.15% increase compared to the same period last year[9]. - Net profit attributable to shareholders of the listed company was a loss of CNY 42,409,901.84, which is a 25.23% increase in loss compared to the previous year[9]. - The company reported a total loss of ¥22,841,011.95 in the current period[39]. - The net loss for the current period was ¥42,753,464.34, compared to a net loss of ¥35,099,801.07 in the previous period, reflecting a deterioration of approximately 21.3%[85]. - The company reported a total profit of -¥162,920,237.19 for the current period, compared to -¥147,396,706.77 in the previous period, indicating a decrease of about 10.0%[100]. - The comprehensive loss for the current period was ¥55,588,361.19, compared to a loss of ¥40,275,470.70 in the previous period, indicating an increase in losses of approximately 38.0%[89]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 1,680,311,445.89, a decrease of 9.74% compared to the previous year[9]. - The total assets decreased from ¥1,680,311,445.89 to ¥1,516,593,568.75, a decline of approximately 9.75%[72]. - Current liabilities increased significantly from ¥77,726,675.67 to ¥462,509,296.89, representing a rise of approximately 493.36%[69]. - The total liabilities amounted to ¥644,184,911.30, compared to ¥209,649,876.17 in the previous period, showing a substantial increase of approximately 207.5%[79]. - The total owner's equity decreased from ¥1,602,584,770.22 to ¥1,054,084,271.86, a decline of approximately 34.3%[72]. Shareholder Information - Net assets attributable to shareholders of the listed company were CNY 1,598,298,488.40, reflecting a decline of 34.24% year-on-year[9]. - The top ten shareholders held a total of 26.22% of shares, with the largest shareholder, China Oceanwide Holdings Group Co., Ltd., owning 235,702,593 shares[15]. - The company’s actual controller and shareholders have made commitments regarding share reduction and performance targets[35]. - The company aims for a net profit growth rate of no less than 30% over three consecutive years to trigger share reduction conditions[35]. Cash Flow - The net cash flow from operating activities was a negative CNY 21,414,948.79, showing an improvement of 16.69% compared to the same period last year[9]. - Cash flow from operating activities shows a net outflow of -131,917,586.91, slightly improved from -141,840,199.66 in the previous period[114]. - Cash inflow from investment activities is 1,289,494.37, compared to 905,488.16 in the previous period, indicating an increase in cash received from investments[117]. - The ending cash and cash equivalents balance is 598,173,481.88, compared to 461,552,071.12 in the previous period, indicating an increase in liquidity[117]. Expenses - Sales expenses rose by 36.87% to RMB 14,762,776.62, driven by increased business activities[26]. - Financial expenses decreased by 84.71% to -RMB 2,412,231.57, primarily due to lower interest income[26]. - R&D expenses fell by 59.94% to RMB 12,178,173.52, as previous periods had concentrated R&D projects[27]. - Research and development expenses increased significantly to ¥4,979,239.21 from ¥1,572,108.17, marking a rise of about 216.5%[82]. Acquisitions and Investments - The acquisition of a 99.01% partnership interest in Shenzhou Borui was completed for a transaction price of RMB 376 million, adjusted to RMB 356 million due to existing debts[33]. - The company paid a sincerity deposit of RMB 50 million to the major shareholder of Jingyi Technology to facilitate the acquisition process[29]. - The company has completed the industrial and commercial registration changes for the acquisition of Shenzhou Borui[33]. Organizational Changes - The company has adjusted its organizational structure to enhance operational and management efficiency[33]. - The company has implemented new revenue recognition standards effective from January 1, 2020[146]. - The company has reclassified amounts related to completed performance obligations as contract assets under the new revenue standards[146].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 39,866,270.32, representing a 26.60% increase compared to CNY 31,490,225.82 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was CNY -119,637,777.35, a decrease of 7.11% from CNY -111,693,207.26 in the previous year[23]. - The net cash flow from operating activities was CNY -110,502,638.12, showing an improvement of 4.85% compared to CNY -116,134,111.09 in the same period last year[23]. - The total operating revenue for the reporting period reached ¥39,866,270.32, representing a year-on-year increase of 26.60% compared to ¥31,490,225.82 in the same period last year[82]. - The company reported a net cash inflow from operating activities of ¥30,684,253.02, which is a 34.97% increase from ¥22,733,966.48 in the previous year[82]. - The company’s investment income for the period was ¥85,262.88, a turnaround from a loss of ¥1,377,621.31 in the same period last year, marking a 106.19% improvement[82]. - The company reported a net loss in undistributed profits, which increased to approximately -$39.84 million from -$30.96 million, indicating a worsening financial position[200]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,529,642,283.86, a decrease of 8.97% from CNY 1,680,311,445.89 at the end of the previous year[23]. - The total liabilities as of June 30, 2020, were CNY 419,969,650.81, significantly increasing from CNY 77,726,675.67 at the end of 2019[190]. - Cash and cash equivalents at the end of the reporting period amounted to ¥601,749,849.92, representing 39.34% of total assets, a decrease of 3.74% compared to the previous year[90]. - Long-term equity investments decreased to ¥137,736,522.93, accounting for 9.00% of total assets, reflecting a decline of 6.50% year-over-year[90]. - The company’s other payables increased by 2,573.52% to ¥370,022,146.99, primarily due to the inclusion of Shenzhou Borui in the consolidation scope, adding liabilities of approximately ¥356 million[82]. - The company reported a significant increase in other payables, which rose to approximately $606.03 million from $206.09 million, a growth of about 194.5%[200]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The total number of unrestricted ordinary shareholders at the end of the reporting period was 60,051, with the largest shareholder holding 26.22% of the shares[159]. - The largest shareholder, China Oceanwide Holdings Group Co., Ltd., holds 235,702,593 shares, which is 26.22% of the total[159]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[164]. - The report indicates that there were no repurchase transactions conducted by the top 10 ordinary shareholders during the reporting period[163]. Operational Developments - The company aims to become a leader in third-party medical insurance services, focusing on comprehensive management of medical insurance funds, medical quality safety services, and drug/device regulatory services[35]. - The intelligent audit service, a core business, achieves millisecond-level review speed for medical expenses, significantly enhancing efficiency in fund management[36]. - The company has developed a DRGs disease grouping tool, implementing a payment reform from quantity-based to quality-based payments, which is an early attempt in the country[37]. - The company has established a comprehensive fund supervision service system, utilizing big data and AI for fraud risk assessment and management[38]. - The company is actively promoting a comprehensive service model for grassroots medical insurance, integrating technology and operational capabilities[45]. - The company is focused on developing a chronic disease management platform that leverages internet and big data tools[44]. Risks and Challenges - The company faced risks related to operational management, which are discussed in detail in the report[6]. - The company faces competitive risks as it is a pioneer in health assurance services, necessitating continuous optimization of product upgrades and market expansion strategies[107]. - Financial risks are present due to rising personnel costs as the company expands its business, prompting a shift towards strategic human resource management[107]. Research and Development - Research and development investment decreased by 62.73% to ¥5,053,224.92, primarily due to concentrated R&D projects in the same period last year[75]. - The company has successfully developed and registered over 130 software copyrights, including systems for intelligent management of medical insurance funds and medical quality monitoring[62]. Miscellaneous - The company has not engaged in any derivative investments during the reporting period[102]. - There were no significant asset or equity disposals during the reporting period[103][104]. - The company has not conducted any poverty alleviation work or plans during the reporting period[143].

Financial Performance - The company's operating revenue for 2019 was CNY 129,912,815.99, representing a 36.06% increase compared to CNY 95,480,022.29 in 2018[24] - The net profit attributable to shareholders in 2019 was CNY 17,427,722.78, a significant recovery from a loss of CNY 187,759,869.23 in 2018, marking a 109.28% improvement[24] - The net cash flow from operating activities reached CNY 66,044,106.82, a remarkable increase of 384.90% compared to a negative cash flow of CNY -23,181,185.84 in 2018[24] - The total assets at the end of 2019 were CNY 1,305,210,581.15, reflecting a 1.94% increase from CNY 1,280,351,320.20 at the end of 2018[24] - The net assets attributable to shareholders increased to CNY 1,223,197,623.66, up by 0.82% from CNY 1,213,191,509.69 in 2018[24] - The basic earnings per share for 2019 were CNY 0.0194, recovering from a loss of CNY -0.2089 in 2018, indicating a 109.28% improvement[24] - The weighted average return on net assets was 1.44% in 2019, a significant increase from -14.33% in 2018, showing a 15.77% improvement[24] Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year[7] - The company did not distribute any cash dividends in 2019, 2018, and 2017, with a net profit attributable to shareholders of 17,427,722.78 CNY in 2019[152] - The company plans to not distribute cash dividends or increase capital through reserves in the upcoming year, focusing on long-term development and sustainable growth[155] - The company will actively consider cash dividends in the future as profitability improves, in accordance with its articles of association and shareholder return planning[151] Business Operations and Developments - The company has not reported any changes in its main business since its listing[23] - The company has developed an intelligent audit engine that automates the review of medical expenses, achieving millisecond-level review speeds[40] - The company has implemented DRGs payment reform, transitioning from quantity-based to quality-based payment standards for medical institutions[40] - The company provides third-party services for medical fund supervision, including fraud investigation and regular inspections, enhancing regulatory compliance[41] - The company utilizes big data and AI technologies to build fraud risk identification models, improving the detection of fraudulent activities in healthcare[43] - The company has established a credit evaluation and supervision service to support the national medical insurance credit system[44] - The company has been providing services in the pharmaceutical circulation field for nearly 20 years, accumulating extensive data related to drugs and consumables[46] - The company supports the establishment of payment standards for local medical insurance based on big data analysis and local fund payment capabilities[46] - The company has developed a smart health record system that enhances data management and improves regulatory efficiency through data mining[47] - The company offers a comprehensive chronic disease management platform utilizing internet and big data tools[47] - The company has established a medical service quality supervision platform to enhance the quality of medical services across provincial, municipal, and county levels[48] - The company provides a third-party service model for grassroots medical insurance, integrating various healthcare resources and operational capabilities[48] - The company has implemented a prescription sharing platform to facilitate real-time sharing of prescription and insurance settlement information among healthcare providers[50] - The company has developed a drug safety smart supervision service to create an intelligent regulatory system from government to consumers[52] - The company has established a collaborative platform for the pharmaceutical supply chain to promote digital transformation and reduce operational costs[53] - The company has introduced a drugstore intelligent review service system to enhance compliance and reduce fraudulent claims during insurance settlements[54] Financial Position and Investments - Long-term equity investments at the end of the reporting period amounted to 138.39 million yuan, a decrease of 22.9% compared to the beginning of the period[57] - Fixed assets at the end of the reporting period were 12.39 million yuan, a decrease of 62.53% compared to the beginning of the period[57] - Accounts receivable at the end of the reporting period increased to 20.68 million yuan, a rise of 204.55% compared to the beginning of the period, primarily due to revenue recognition from medical insurance fund management services[57] - Other receivables at the end of the reporting period reached 52.99 million yuan, an increase of 615% compared to the beginning of the period, mainly due to earnest money paid for the acquisition of Jingyi Technology equity[57] - The company’s investment in cash and cash equivalents amounted to approximately 31.90 million USD, representing 18.18% of the company's net assets[58] - The company reported a total cash and cash equivalents increase of ¥43,048,615.23, representing a growth of 22.67% year-on-year[105] - The total assets composition showed a 1.74% increase in cash holdings, which accounted for 54.55% of total assets at year-end[110] - The company’s long-term equity investments decreased by 22.9% to ¥138,393,795.49 due to the sale of a subsidiary, impacting its influence over certain investments[110] Research and Development - The company has developed approximately 120 software copyrights, including systems for intelligent management of medical insurance funds and prescription review engines[65] - The company has established a joint laboratory with Peking University to explore applications of big data and artificial intelligence technologies[63] - The company’s medical big data analysis team consists entirely of members with master's degrees, enhancing its data application capabilities[64] - Research and development expenses surged by 569.74% to 5,794,995.28, primarily due to increased costs in the research phase[96] - Research and development (R&D) investment increased by 10.25% to ¥32,517,999.21, while the proportion of R&D investment to operating revenue decreased to 25.03% from 30.89%[100] - The R&D personnel count decreased by 5.80% to 779, while the proportion of R&D personnel remained relatively stable at 67.33%[100] Market and Competitive Landscape - The company maintained stable business income despite increased market competition and reduced government information technology budgets[72] - The company is actively exploring business innovation by expanding its services to G-end, B-end, and C-end markets[72] - The company recognizes competitive risks due to increasing market entrants and plans to strengthen its core competencies and innovate its business models[142] Compliance and Governance - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[164] - The company’s actual controller and shareholders have made commitments regarding the fulfillment of return measures and will not interfere with the company's management[159] - The company has undergone changes in accounting policies and estimates, aligning with new financial instrument standards issued by the Ministry of Finance in 2017[164] - The company implemented the new financial instrument standards starting January 1, 2019, which reclassified financial assets into three categories, impacting the accounting policies significantly[168] - The company did not experience any major accounting errors requiring restatement during the reporting period[173] - There were no significant legal disputes or arbitration matters reported during the period[179] - The company did not face any penalties or rectification issues during the reporting period[182] Future Outlook - The company plans to optimize its organizational structure and resource allocation to enhance performance and drive revenue growth in 2020[140] - The company aims to expand its market share by focusing on key projects and enhancing core business value in the healthcare sector[140] - The company will develop three main product series in third-party services for medical insurance, including precise payment services and big data monitoring services[140] - The company intends to upgrade its comprehensive management cloud platform for medical insurance, improving technical support capabilities across various regions[141] - The company anticipates a significant increase in data processing capabilities, aiming to double the speed of data handling in its intelligent review engine[141] - The company is aware of financial risks associated with talent acquisition and will implement comprehensive budget management to mitigate these risks[142] - The company will closely monitor policy changes in the healthcare sector to adapt its business structure and governance accordingly[142]

Financial Performance - The company's operating revenue for Q1 2020 was ¥17,179,989.05, representing a 1.69% increase compared to the same period last year[8] - The net profit attributable to shareholders was -¥71,182,370.62, while the net profit after deducting non-recurring gains and losses was -¥53,157,667.72[8] - The basic and diluted earnings per share were both -¥0.0792, compared to -¥0.0554 in the same period last year[8] - The weighted average return on net assets was -5.99%, down from -4.19% in the previous year[8] - The company reported a net loss attributable to the parent company of -71,182,370.62, compared to -49,764,470.52 in the previous period, showing a significant increase in losses[70] - The total comprehensive income for the current period was reported as ¥-97,671,346.08, an improvement from ¥-101,714,063.66 in the previous period[55] - The total operating cost for the period was 65,018,599.36, a decrease from 68,964,348.87 in the previous period, representing a reduction of approximately 4.2%[67] - The company reported an unallocated profit of ¥-36,204,899.68, compared to ¥-30,956,603.76 in the previous period, indicating a worsening of approximately 16.00%[62] Cash Flow and Liquidity - The net cash flow from operating activities was -¥54,425,286.59, an improvement from -¥70,685,184.26 in the previous year[8] - Cash received from sales and services decreased by 46.60% to CNY 5,409,990.03 due to reduced collections during the reporting period[20] - Cash inflows from operating activities totaled 13,070,995.22, down from 18,367,594.07 in the previous period, showing a decline of approximately 29.5%[87] - Cash outflows from operating activities reached 67,496,281.81, compared to 139,052,778.33 in the previous period, indicating a reduction of about 51.5%[87] - Cash and cash equivalents decreased from 712,052,539.72 CNY at the end of 2019 to 660,896,371.92 CNY by March 31, 2020, reflecting a decline of approximately 7.4%[46] - The company experienced a net decrease in cash and cash equivalents of -51,227,967.80, compared to -128,468,641.58 in the previous period, indicating an improvement in cash management[90] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,236,447,375.94, a decrease of 5.27% from the end of the previous year[8] - The total liabilities amounted to ¥215,517,311.49, compared to ¥209,649,876.17 in the previous period, indicating an increase of about 2.00%[62] - The total equity attributable to shareholders of the parent company decreased to ¥883,587,646.35 from ¥888,835,942.27, a decline of approximately 0.28%[62] - The total current assets decreased from 906,999,508.82 CNY at the end of 2019 to 845,534,616.89 CNY, indicating a reduction of about 6.7%[46] - The company's long-term equity investments slightly decreased from 138,393,795.49 CNY to 137,802,664.17 CNY, a reduction of about 0.4%[49] Government Support and Subsidies - The company received government subsidies amounting to ¥43,970.44 during the reporting period, primarily from VAT reductions for small and micro enterprises[9] - Other income increased by 471.25% to CNY 43,970.44, attributed to VAT exemptions for small and micro enterprises[20] Investments and Acquisitions - The company plans to acquire a 99.01% partnership interest in Shenzhou Borui for a transaction price adjusted to RMB 35.6 million after assuming a debt of RMB 20 million[27] - The acquisition of Shenzhou Borui will indirectly give the company a 10.71% stake in Shenzhou Medical after the transaction is completed[27] - The company’s board approved the acquisition of Shenzhou Borui, which is seen as a strategic move to enhance its investment portfolio[27] Compliance and Governance - The company is focused on maintaining compliance with its commitments to minority shareholders and ensuring transparency in its financial dealings[31] - The company has committed to ensuring that the controlling shareholders return the earnest money within the stipulated timeframe, with legal measures in place to enforce this[23] - The company is actively pursuing measures to protect its interests in the terminated asset restructuring deal, including potential legal actions[23] Changes in Accounting Standards - The company implemented the new revenue recognition and leasing standards starting January 1, 2020, resulting in a reclassification of certain financial statement items[102] - Accounts receivable decreased by ¥19,198,315.33, reflecting a significant adjustment under the new standards[102] - Contract assets of ¥19,198,315.33 were recognized due to completed performance obligations that had not yet received corresponding contract consideration[102]

Financial Performance - Operating revenue for the reporting period was CNY 22,171,801.88, representing a decrease of 8.65% year-on-year[11]. - Net profit attributable to shareholders of the listed company was a loss of CNY 33,865,233.97, a decline of 35.46% compared to the same period last year[11]. - Basic earnings per share were CNY -0.0377, down 35.46% year-on-year[11]. - The weighted average return on net assets was -2.83%, a decrease of 1.04% compared to the previous year[11]. - The company reported a loss of CNY 6,284,494.11 from fair value changes in financial assets during the reporting period[46]. - The net profit for the current period is CNY -147,478,303.38, compared to CNY -115,856,429.60 in the previous period, indicating a deeper loss[96]. - The net profit attributable to the parent company is CNY -146,243,736.28, compared to CNY -113,272,856.82 in the previous period, showing a worsening financial performance[96]. - Total comprehensive income for the current period is CNY -153,599,902.75, compared to CNY -100,002,785.44 in the previous period[113]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,110,134,819.01, a decrease of 13.29% compared to the end of the previous year[11]. - Total current assets decreased from 768.71 million to 649.92 million, a decline of approximately 15.4%[60]. - Total non-current assets decreased from 511.64 million to 460.22 million, a decline of approximately 10%[60]. - Total current liabilities decreased from 62.73 million to 46.12 million, a decline of approximately 26.6%[63]. - Total liabilities remained the same at 46.12 million, indicating no change[63]. - Total equity attributable to shareholders decreased from 1.21 billion to 1.06 billion, a decline of approximately 12.5%[66]. - Total liabilities and equity decreased from 1.28 billion to 1.11 billion, a decline of approximately 13.2%[66]. Cash Flow - The net cash flow from operating activities was a negative CNY 141,840,199.66, a significant decrease of 922.41%[11]. - Cash inflow from operating activities totaled 62,169,920.81 yuan, down from 171,355,554.28 yuan year-over-year[134]. - Cash received from other operating activities was 354,201,920.15 yuan, showing a significant increase compared to 13,766,290.33 yuan in the previous period[145]. - Cash paid to employees was 7,213,246.32 yuan, up from 5,770,082.47 yuan in the previous period[145]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 57,247[15]. - The largest shareholder, Zhonghai Heng Industrial Development Co., Ltd., held 26.22% of the shares, totaling 235,702,593 shares[15]. - The controlling shareholder has cumulatively increased its holdings by 4,333,200 shares, accounting for 0.48% of the total share capital, with a total investment of approximately 100 million yuan[32]. Investments and Acquisitions - The company purchased a 99.01% partnership interest in Shenzhou Borui for a cash price of RMB 376 million, adjusted to RMB 356 million due to a debt of RMB 20 million assumed by Guoxin Health[36]. - The company transferred 100% equity of Zhejiang Haihong for RMB 13.78 million and 99.7% equity of Haihong Assets for RMB 7.28 million to its controlling shareholder, Zhonghai Heng, while Zhonghai Heng will repay debts of RMB 13.59 million and RMB 73.87 million respectively[36]. - The company has been planning a major asset restructuring since June 2018, intending to acquire 99.3267% of Jingyi Technology's shares through a share issuance[32]. - The company received a letter from Jingyi Technology regarding the termination of the major asset restructuring due to the inability to reach consensus on key terms[32]. Government Support - The company received government subsidies amounting to CNY 191,225.25, primarily from VAT exemptions for small and micro enterprises[11]. - Other income rose by 129.63% from RMB 83,275.10 to RMB 191,225.25, mainly due to VAT exemptions for small and micro enterprises[25]. Research and Development - Research and development expenses for the current period are CNY 3,674,492.49, indicating ongoing investment in innovation[93]. - The company incurred research and development expenses of 1,000,000.00 yuan[129]. Compliance and Governance - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[53]. - The company has not provided any external guarantees that violate regulations during the reporting period[52]. - The company is currently fulfilling its commitments without any violations reported[41].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥31,490,225.82, representing a 40.87% increase compared to ¥22,353,316.37 in the same period last year[23]. - The net profit attributable to shareholders was -¥111,693,207.26, a decrease of 26.53% from -¥88,273,418.22 in the previous year[23]. - The basic earnings per share were -¥0.1243, a decrease of 26.53% from -¥0.0982 in the same period last year[23]. - The company reported a net loss attributable to shareholders of ¥111,693,207.26 due to significant declines in the fair value of certain financial assets[56]. - The total comprehensive loss for the first half of 2019 was CNY -113,324,432.05, compared to CNY -86,189,402.94 in the same period of 2018[187]. - The net loss for the first half of 2019 was CNY 112,378,502.31, worsening from a net loss of CNY 89,901,244.10 in the same period of 2018[183]. - Operating profit for the first half of 2019 showed a significant loss of -7,670,248.93, compared to a profit of 21,905,661.08 in the first half of 2018[195]. Cash Flow and Assets - The net cash flow from operating activities was -¥116,134,111.09, indicating a significant decline of 876.04% compared to ¥14,964,890.71 in the same period last year[23]. - Cash and cash equivalents decreased by 334.65% to -¥177,475,390.80, primarily due to the payment of earnest money and the recovery of equity transfer funds in the previous period[62]. - The total assets at the end of the reporting period were ¥1,142,847,673.27, down 10.74% from ¥1,280,351,320.20 at the end of the previous year[23]. - Total current assets decreased to CNY 675,136,883.94 from CNY 768,714,301.38, a decline of approximately 12.14%[163]. - Cash and cash equivalents dropped to CNY 492,285,082.66 from CNY 671,541,273.46, representing a decrease of about 26.69%[160]. - The total liabilities decreased to CNY 38,555,432.17 from CNY 62,734,647.05, a reduction of about 38.51%[168]. - The total equity attributable to shareholders decreased to CNY 1,100,552,372.69 from CNY 1,213,191,509.69, a decline of approximately 9.29%[168]. Revenue and Costs - The company's operating costs increased by 23.97% to ¥77,961,893.55, compared to ¥62,888,864.24 in the previous year, primarily due to the increase in costs associated with the rise in revenue[58]. - The revenue from the medical insurance fund comprehensive management service business was ¥18,080,066.69, up 60.02% year-on-year, while the revenue from drug and medical device supervision services was ¥12,658,408.84, an increase of 26.63%[56]. - Total operating costs for the first half of 2019 were CNY 134,697,828.14, compared to CNY 127,254,689.48 in the previous year, indicating an increase of about 5%[180]. Investments and Development - The company has reduced its development expenditures by 59.99% to 11.45 million yuan, primarily due to the transfer of prior development costs to intangible assets[46]. - Research and development investment decreased by 40.86% to ¥13,556,963.58, attributed to the transfer of some development personnel to project implementation and maintenance[62]. - The company plans to increase research and development investments in 2019 to enhance platform optimization and expand business development[88]. Strategic Initiatives - The company has developed a DRGs disease grouping tool, which aims to reform payment methods from quantity-based to quality-based, enhancing the management of medical insurance funds[35]. - The company is actively involved in the comprehensive governance of medical insurance, providing third-party services including intelligent monitoring and medical quality safety services[32]. - The company has established a cloud service platform for grassroots medical and health institutions, facilitating comprehensive health protection services[42]. - The company has a strong focus on smart audit services, which utilize proprietary technology to control unreasonable medical expenses and ensure the safety of medical insurance funds[33]. - The company aims to build a fair and just health insurance service system while promoting its services across key regions and cities in response to national healthcare policies[57]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 57,141[137]. - The largest shareholder, China Oceanwide Holdings Group Co., Ltd., held 26.22% of the shares, totaling 235,702,593 shares[137]. - The second-largest shareholder, Hong Kong Central Clearing Limited, held 2.05% of the shares, totaling 18,412,801 shares[137]. - The controlling shareholder, Zhonghai Heng, has completed a share buyback plan, acquiring 4,333,200 shares for a total of approximately 100 million RMB, increasing its stake to 26.22%[127]. Corporate Governance - The company is focusing on management and strategic restructuring to enhance its governance structure and operational efficiency[56]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[102]. - There were no significant related party transactions during the reporting period[104]. - The company has not implemented any stock incentive plans or employee stock ownership plans during the reporting period[103]. - The half-year financial report has not been audited[101].

Financial Performance - The company's operating revenue for Q1 2019 was ¥16,894,651.29, representing a 38.94% increase compared to ¥12,159,802.31 in the same period last year[8]. - The net profit attributable to shareholders of the listed company was -¥49,764,470.52, an improvement from -¥58,635,703.57 year-on-year[8]. - The basic earnings per share for the period was -¥0.0554, compared to -¥0.0652 in the same period last year[8]. - The weighted average return on net assets was -4.19%, slightly improved from -4.26% year-on-year[8]. - Total operating revenue for the current period reached ¥16,894,651.29, an increase of 39.5% compared to ¥12,159,802.31 in the previous period[66]. - Net profit for the current period was -¥50,230,118.61, an improvement from -¥61,087,314.42 in the previous period, indicating a reduction in losses[69]. - The total comprehensive income for the current period was -¥57,716,027.24, compared to -¥73,113,171.76 in the previous period, indicating a reduction in comprehensive losses[73]. - The total comprehensive income for the current period is -4,096,420.07, compared to -2,242,951.35 in the previous period, indicating a decline in overall financial performance[80]. Cash Flow - The net cash flow from operating activities was -¥70,685,184.26, compared to -¥62,652,760.50 in the previous year[8]. - The cash flow from operating activities shows a net outflow of -70,685,184.26, compared to -62,652,760.50 in the previous period, reflecting worsening cash flow conditions[81]. - The total cash inflow from operating activities is 18,367,594.07, up from 10,455,180.01 in the previous period, showing an increase in cash receipts from operations[81]. - The cash outflow for operating activities totals 89,052,778.33, compared to 73,107,940.51 in the previous period, indicating higher operational expenses[81]. - The ending cash and cash equivalents balance is 540,352,631.88, down from 622,211,829.78 in the previous period, reflecting a decrease in liquidity[88]. - The company paid 70,752,147.68 in cash to employees, an increase from 52,225,142.59 in the previous period, suggesting higher payroll expenses[84]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,198,034,503.23, a decrease of 6.43% from ¥1,280,351,320.20 at the end of the previous year[8]. - Total current assets decreased to ¥749,213,282.58 from ¥768,714,301.38, a decline of approximately 1.94%[49]. - Total liabilities decreased to ¥38,133,857.32 from ¥62,734,647.05, a reduction of approximately 39.4%[52]. - Total equity decreased to ¥1,159,900,645.91 from ¥1,217,616,673.15, a decline of approximately 4.73%[55]. - Total liabilities increased to ¥82,802,702.86 from ¥80,460,320.65, marking a rise of 2.9%[62]. - Total equity decreased to ¥813,435,241.75 from ¥817,531,661.82, reflecting a decline of 0.5%[62]. Investments - The company reported a significant increase in other receivables, which rose by 485.04% to ¥56,307,462.47, mainly due to earnest money paid for the acquisition of Shanghai Jingyi Technology Co., Ltd.[23]. - The company has committed to not reducing its holdings in Guoxin Health stocks during the stock increase period and within the statutory period[32]. - The company reported a total investment in domestic and foreign stocks amounting to 171,517,178.25 CNY as of the end of the reporting period[38]. - The fair value change gain from the investment in China Petroleum amounted to 2,426,694.81 CNY during the reporting period[35]. - The company’s investment in CITIC shares resulted in a loss of 624,017.17 CNY during the reporting period[35]. - The company’s investment in Pacific Network generated a gain of 1,872,051.44 CNY during the reporting period[35]. - The company’s investment in COSCO Shipping reported a gain of 424,678.26 CNY during the reporting period[35]. - The company’s investment in China Reinsurance generated a gain of 37,441.04 CNY during the reporting period[35]. - The company’s investment in China Coal Energy reported a gain of 28,600.79 CNY during the reporting period[35]. - The company has not engaged in any derivative investments during the reporting period[39]. Research and Development - Research and development expenses rose to ¥1,282,658.02, reflecting a 48.24% increase from ¥865,258.30 in the same period last year, attributed to increased R&D investments[23]. - Research and development expenses increased to ¥1,282,658.02, up from ¥865,258.30, representing a growth of 48.3%[66]. Corporate Actions - The company plans to raise up to ¥250,000 million through a private placement of A-shares to fund the construction of a real-time intelligent review platform[26]. - The company is in the process of a major asset restructuring, intending to acquire 99.3267% of Shanghai Jingyi Technology Co., Ltd. and 90% of Xiamen Yunding Weiye Information Technology Co., Ltd.[28]. - The controlling shareholder plans to increase their stake in the company with a total investment of no less than ¥100 million over the next 12 months[29]. - The company has been actively communicating with stakeholders regarding business progress and major asset restructuring[40]. Financial Standards - The company executed new financial accounting standards effective January 1, 2019, impacting the classification and measurement of financial instruments[100]. - The financial report is based on the new financial accounting standards effective from January 1, 2019[107].