Financial Performance - The company's operating revenue for Q1 2022 was ¥136,369,239.24, a decrease of 1.75% compared to ¥138,801,271.38 in the same period last year[5] - Net profit attributable to shareholders was ¥32,656,024.39, down 25.88% from ¥44,060,661.71 year-on-year[5] - Basic earnings per share decreased by 27.01% to ¥0.0654 from ¥0.0896 in the same period last year[5] - Total operating revenue for the current period is $136.37 million, a decrease of 1.03% from $138.80 million in the previous period[35] - Net profit for the current period is $31.53 million, a decrease of 23.83% compared to $41.44 million in the previous period[38] - Basic earnings per share for the current period is $0.0654, down from $0.0896 in the previous period[38] Cash Flow - The net cash flow from operating activities was -¥86,498,490.82, a significant decline of 287.63% compared to ¥46,101,428.17 in the previous year[5] - Cash flow from operating activities shows a net outflow of $86.50 million, compared to a net inflow of $46.10 million in the previous period[42] - Net cash flow from investment activities was -$123.67 million, compared to -$85.50 million in the previous period, indicating a decline in investment performance[45] - Total cash inflow from financing activities reached $185.77 million, significantly higher than $36.66 million in the prior period, reflecting increased financing efforts[45] - Net cash flow from financing activities was $172.93 million, a substantial improvement from -$80.74 million previously, showcasing effective capital management[45] - Cash flow from operating activities was not detailed, but the overall cash and cash equivalents decreased by $37.32 million compared to a decrease of $120.14 million previously, indicating improved cash management[45] Assets and Liabilities - Total assets increased by 8.36% to ¥2,294,402,329.36 from ¥2,117,454,697.21 at the end of the previous year[5] - Total liabilities increased to ¥1,158,595,181.14 from ¥1,017,964,343.14, an increase of approximately 13.8%[31] - The company's equity attributable to shareholders increased to ¥1,108,616,070.36 from ¥1,071,171,820.88, a growth of approximately 3.5%[31] - Non-current assets totaled ¥1,601,963,396.27, up from ¥1,454,065,693.70, indicating an increase of about 10.1%[28] Expenses - Research and development expenses decreased by 72.83% compared to the same period last year, primarily due to a reduction in R&D projects[17] - Management expenses rose by 32.55% compared to the previous year, primarily due to the implementation of stock incentives[16] - Sales expenses decreased to $45.08 million, a reduction of 5.69% from $47.49 million in the previous period[35] - Credit impairment losses decreased significantly to $951.66 thousand, down 94.69% from $17.96 million in the previous period[35] Financing and Borrowings - The company reported a 41.93% increase in short-term borrowings, attributed to new loans taken out[13] - Short-term borrowings rose to ¥215,225,525.02 from ¥151,643,729.27, reflecting an increase of about 42.0%[31] - The company received $147.29 million in cash from borrowings, a significant increase from $14.88 million in the previous period, highlighting enhanced borrowing capacity[45] - Cash outflow for debt repayment was $6.91 million, a decrease from $109.78 million in the previous period, indicating reduced debt servicing pressure[45] Other Income and Subsidies - The company received government subsidies amounting to ¥14,680,573.29 during the reporting period[8] - Other income increased to $14.68 million, up 66.67% from $8.79 million in the previous period[35] Stock and Equity - The company completed the registration of 4,995,000 restricted stocks under the 2021 equity incentive plan at a grant price of ¥7.70 per share[24] - The capital reserve increased by 132.40%, mainly due to the inclusion of stock incentive expenses[15] Inventory and Receivables - Accounts receivable decreased to ¥111,991,657.81 from ¥128,991,111.94, representing a decrease of approximately 13.2%[25] - Inventory increased to ¥128,987,508.91 from ¥102,004,036.62, showing an increase of about 26.4%[25] Audit and Reliability - The first quarter report was not audited, which may affect the reliability of the financial data presented[46]

Financial Performance - The company's operating revenue for 2021 was ¥656,255,549.80, an increase of 18.77% compared to ¥552,561,979.41 in 2020[28]. - The net profit attributable to shareholders for 2021 was ¥95,292,383.72, representing a 24.20% increase from ¥76,725,841.36 in 2020[28]. - The net profit after deducting non-recurring gains and losses was ¥46,484,032.82, a significant increase of 254.69% from ¥13,105,574.38 in 2020[28]. - The company's cash flow from operating activities for 2021 was ¥136,667,738.73, a decrease of 4.04% compared to ¥142,422,522.82 in 2020[28]. - The basic earnings per share for 2021 was ¥0.1926, up 23.46% from ¥0.156 in 2020[28]. - The weighted average return on equity increased to 9.20% in 2021, up by 1.32 percentage points from 7.88% in 2020[28]. - The total assets at the end of 2021 were ¥2,117,454,697.21, a slight decrease of 0.39% from ¥2,125,769,141.68 at the end of 2020[28]. - The net cash flow from operating activities was 136,667,738.73 CNY, a decrease of 4.04% compared to the previous year[88]. - The cash and cash equivalents decreased by 68,734,324.44 CNY, marking a 133.66% decline compared to the previous year[88]. - The company reported a total asset value of ¥856,247,645.83 for Inner Mongolia Shuangqi Pharmaceutical Co., Ltd., indicating a strong asset base in the pharmaceutical sector[109]. Business Strategy and Expansion - The company shifted its main business focus from power generation to the R&D, manufacturing, sales, and maintenance of high-temperature alloys and related technical services[25]. - The company plans to expand its operations into the pharmaceutical industry, which was approved in a shareholder meeting on September 30, 2019[25]. - The company is constructing a new production base in Zhuhai, expected to be operational by 2024, enhancing its production capacity for micro-ecological preparations[56]. - The company has established a comprehensive marketing system covering prescription drugs, OTC products, and health foods, collaborating with over 3,000 hospitals and 100,000 pharmacies nationwide[49]. - The company is focusing on optimizing its organizational structure to enhance management efficiency and talent development[116]. - The company is committed to increasing R&D investment in high-temperature alloy materials, targeting applications in aerospace and power generation sectors[117]. - The company is actively expanding its product line and developing new profit points in the micro-ecological live bacteria product business[122]. Research and Development - The company has developed a complete R&D and testing system for superalloy materials, achieving multiple key technological breakthroughs and obtaining several patents related to superalloy business[53]. - In 2021, the company applied for 13 invention patents, with 8 granted, and owns 42 registered trademarks[56]. - The company completed 49 out of 53 planned R&D projects in high-temperature alloy blades, delivering 7,474 finished turbine blades in 2021[57]. - The company plans to develop approximately 10 new probiotic strains annually as part of its ongoing research projects[79]. - The company has established a microbiology research institute in the Greater Bay Area to enhance research and incubation capabilities in the micro-ecological field[112]. Governance and Management - The company has a robust governance structure, ensuring compliance with relevant laws and regulations[128]. - The company is focused on maintaining stable management and governance structures, ensuring continuity in leadership roles[142]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 3.4852 million yuan, with 11 out of 13 individuals receiving compensation[153]. - The company has established a performance-based bonus system for senior management, linked to their work performance and the company's operational results[153]. - The independent directors have actively participated in board meetings and provided objective opinions on major decisions, ensuring effective governance[172]. Shareholder Engagement and Dividends - The company reported a cash dividend of 0.5 yuan per 10 shares (including tax) to all shareholders, with no bonus shares issued[6]. - The company approved a three-year dividend return plan for 2021-2023 during the annual shareholder meeting[133]. - The company plans to distribute a cash dividend of CNY 0.50 per 10 shares (tax included), totaling CNY 25,035,404.80, which represents 100% of the profit distribution amount[186]. - The company has established a three-year dividend plan (2021-2023) to protect the rights of minority investors and ensure a sustainable dividend mechanism[184]. - The company has consistently maintained a cash dividend payout ratio exceeding 30% from 2018 to 2020[166]. Risks and Challenges - The company faces risks related to profitability during its strategic transition, relying on stable cash flow from its microbiological products to support high-temperature alloy business growth[118]. - The company is addressing the risk of declining drug prices due to national procurement policies that compress sales margins for pharmaceutical companies[119]. - The company has faced continuous losses since the establishment of its wholly-owned subsidiary in February 2020, raising concerns about the necessity of further capital increases[168]. - The company has opposed several proposals related to stock incentive plans, citing concerns over their impact on minority shareholders[168]. Employee and Stock Incentive Plans - The total number of employees at the end of the reporting period is 1,038, with 27 in the parent company and 1,011 in major subsidiaries[179]. - The average salary for executives is CNY 316,800 per person, while the average salary for all employees is CNY 152,500 per person[182]. - The company granted a total of 8 million stock options and 4 million restricted stocks under the 2020 equity incentive plan, with an exercise price of ¥13.70 per option and a grant price of ¥6.85 per share[190]. - The company’s equity incentive plans are designed to align the interests of employees with those of shareholders, enhancing overall company performance[192]. - The company continues to focus on expanding its equity incentive programs to include a broader range of employees, thereby increasing engagement and productivity[193].

Revenue and Profit - Revenue for Q3 2021 reached ¥189,273,554.23, an increase of 34.09% year-over-year[5] - Net profit attributable to shareholders was ¥21,029,684.63, up 2.35% compared to the same period last year[5] - Net profit excluding non-recurring gains and losses decreased by 18.47% to ¥14,216,066.86[5] - Total operating revenue for the current period reached ¥469,317,731.14, an increase of 26.1% compared to ¥372,138,256.56 in the previous period[30] - Net profit for the current period was ¥78,947,152.15, representing a 27.7% increase from ¥61,802,979.13 in the previous period[32] - Earnings attributable to the parent company's shareholders were ¥85,149,613.97, compared to ¥69,599,466.25 in the previous period, reflecting a growth of 22.4%[32] - Basic earnings per share increased to ¥0.1731 from ¥0.1415, marking a rise of 22.5%[32] Cash Flow - Operating cash flow increased significantly by 414.00%, totaling ¥74,991,746.44 year-to-date[5] - The net cash flow from operating activities increased significantly, driven by higher sales compared to the previous year[13] - Cash flow from operating activities netted at ¥74,991,746.44, a significant improvement from a negative ¥37,760,075.75 in the previous period[37] - Cash inflow from investment activities totaled ¥228,249,833.42, down from ¥353,220,596.61 in the prior period, resulting in a net cash outflow of ¥144,599,504.44[40] - Cash flow from financing activities resulted in a net outflow of ¥155,768,603.56, compared to a smaller outflow of ¥75,681,924.93 last year[40] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,031,268,799.17, a decrease of 4.45% from the previous year[5] - Total liabilities decreased to ¥977,886,408.64 from ¥1,134,034,516.54, a reduction of 13.8%[30] - Current liabilities decreased to ¥506,071,610.61 from ¥666,903,907.91, a reduction of approximately 24.1%[23] - Total assets decreased to ¥2,031,268,799.17 from ¥2,125,769,141.68, reflecting a decline of about 4.4%[23] - Total equity attributable to the parent company increased to ¥1,033,818,279.17 from ¥999,767,746.84, an increase of 3.4%[30] Expenses - The company reported a 60.28% increase in operating costs compared to the same period last year[13] - Management expenses rose by 38.45% year-over-year, primarily due to the implementation of equity incentives[13] - Research and development expenses for the current period were ¥49,068,106.23, up from ¥45,436,426.48, indicating a growth of 5.7%[30] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 16,873, with the largest shareholder, Wanze Group Co., Ltd., holding 39.92% of shares, equating to 197,608,136 shares[14] Other Financial Information - The company experienced a 255.13% decrease in credit impairment losses, reflecting the recovery of bad debt provisions[13] - Other income increased by 36.35% year-over-year, attributed to increased government subsidies received by subsidiaries[13] - The company reported a financial asset impairment loss of ¥14,727,444.17, compared to a gain of ¥9,493,591.19 in the previous period[30] - The company has not disclosed any new product or technology developments in the current report[18] - There are no significant mergers or acquisitions reported during this period[18] - The report for the third quarter was not audited, indicating a need for caution in interpreting the financial data[51]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥280,044,176.91, representing a 21.24% increase compared to ¥230,984,776.25 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was ¥64,119,929.34, a 30.72% increase from ¥49,052,915.31 year-on-year[27]. - The net profit after deducting non-recurring gains and losses surged by 597.80%, reaching ¥22,269,365.88 compared to ¥3,191,387.18 in the previous year[27]. - The net cash flow from operating activities improved significantly to ¥30,674,776.38, a 521.13% increase from a negative cash flow of ¥7,283,908.76 in the same period last year[27]. - Basic earnings per share increased by 30.19% to ¥0.1298, while diluted earnings per share rose by 29.29% to ¥0.1289[27]. - The weighted average return on equity increased by 1.21 percentage points to 6.25% compared to 5.04% in the previous year[27]. - The company's gross profit margin in the pharmaceutical manufacturing sector was 87.66%, with a year-on-year decrease of 1.12 percentage points[51]. - The revenue from the pharmaceutical manufacturing sector accounted for 90.91% of total operating revenue, amounting to ¥254,593,507.73, up from ¥218,388,802.52, reflecting a growth of 16.58%[51]. - The company reported a significant increase in revenue from the non-ferrous metal smelting and processing industry, which grew by 73.46% to ¥21,556,638.06, compared to ¥12,427,722.42 in the previous year[51]. - The company reported a total investment income of CNY 36,819,438.88 from trading financial assets and derivatives[33]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,016,906,745.91, a decrease of 5.12% from ¥2,125,769,141.68 at the end of the previous year[27]. - The cash and cash equivalents decreased by 8.59 percentage points to 9.98% of total assets, totaling ¥201,355,587.86, down from ¥394,745,353.21[56]. - The company's long-term equity investments increased slightly by 0.05 percentage points to 0.45% of total assets, amounting to ¥9,026,661.64[56]. - The total amount of non-operating funds occupied by the controlling shareholder and related parties at the beginning of the period was CNY 137.31 million, with an increase of CNY 2.04 million during the reporting period[100]. - The total amount repaid during the reporting period was CNY 139.35 million, resulting in a year-end balance of CNY 0[100]. - The company's total liabilities remain at 0.00 CNY, indicating no financial liabilities reported[59]. - Total liabilities decreased from CNY 1,134,034,516.54 to CNY 988,554,126.84, a reduction of about 12.8%[179]. - Current liabilities decreased from CNY 666,903,907.91 to CNY 514,540,619.95, a decline of approximately 22.9%[179]. - Long-term borrowings slightly decreased from CNY 305,570,242.42 to CNY 300,403,611.11, a decrease of about 1.4%[179]. Strategic Initiatives - The company plans to launch a new probiotic dietary supplement "Today Probiotics" by the end of the year, expanding its product line[39]. - The Zhuhai production base construction has commenced and is expected to be operational by 2024[39]. - The company is undergoing a strategic transformation, focusing on the industrialization of high-temperature alloy business while relying on stable income from microbial agents[75]. - The company plans to invest in a micro-ecological research center to enhance its R&D capabilities for new products in response to pricing pressures in the pharmaceutical sector[76]. - The company has identified strategic opportunities for mergers and acquisitions to enhance its competitive position in the market[197]. Research and Development - The company has established a complete R&D system for high-temperature alloys, with a core team of experts from the aerospace and gas turbine sectors[48]. - The company has developed multiple proprietary high-temperature alloy materials and holds several patents in this field[48]. - Research and development expenses rose by 13.06% to ¥32,414,524.53, compared to ¥28,670,233.09 in the previous year[49]. - The company has invested CNY 20,063,645.37 in development expenditures, up from CNY 4,627,567.03, indicating a significant increase in R&D efforts[176]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The employee stock ownership plan raised a total of 25 million RMB, with 2,736,997 shares purchased, accounting for 0.56% of the total share capital at an average price of 9.13 RMB per share[5]. - The total number of shares increased from 491,785,096 to 494,963,096, with a new issuance of 3,178,000 shares[141]. - The total number of unrestricted shares remained at 491,507,596, accounting for 99.30% of total shares after the change[141]. - Total number of common shareholders at the end of the reporting period was 16,923, with the largest shareholder, Wanze Group, holding 42.01% (207,934,027 shares)[151]. Compliance and Governance - The company has established a robust internal control system to protect the interests of shareholders, especially minority shareholders[94]. - The company has not engaged in any significant related party transactions during the reporting period[109]. - There were no major litigation or arbitration matters during the reporting period[106]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[105]. - The half-year financial report has not been audited[104]. - The company has not provided any guarantees that violate regulations during the reporting period[103].

Financial Performance - The company's operating revenue for Q1 2021 was ¥138,801,271.38, a decrease of 18.00% compared to the same period last year[10]. - Net profit attributable to shareholders was ¥44,060,661.71, down 2.36% year-on-year[10]. - The net profit excluding non-recurring gains and losses increased by 7.25% to ¥36,880,385.12[10]. - Net profit for Q1 2021 was ¥41,444,609.13, a decrease of 7.0% from ¥44,936,861.05 in Q4 2020[90]. - The company’s net profit for the reporting period was CNY 552,043,312.55, an increase from CNY 507,982,650.84[73]. - The company achieved an investment income of ¥442,165.02 compared to a loss of ¥40,522.45 in the previous quarter[90]. - Investment income increased by 1191.16% compared to the same period last year, primarily due to profits from associated companies[31]. - Non-operating income increased by 1039.97% compared to the same period last year, primarily due to penalties received from suppliers for delayed deliveries, with no related income in the previous period[31]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 56.83% to ¥46,101,428.17[10]. - Cash and cash equivalents decreased by 30.46% compared to the beginning of the period, mainly due to repayment of due loans[22]. - Cash flow from operating activities generated a net amount of ¥46,101,428.17, down from ¥106,796,911.40 in the previous period[104]. - Cash inflow from operating activities totaled ¥173,730,095.39, compared to ¥217,274,815.69 in the previous period[104]. - Cash outflow from operating activities was ¥127,628,667.22, compared to ¥110,477,904.29 in the previous period[104]. - The ending balance of cash and cash equivalents was 31,913,717.65 yuan, down from 1,733,487.32 yuan in the previous period[113]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,094,752,856.76, a decrease of 1.46% from the end of the previous year[10]. - The company's total liabilities were CNY 1,036,704,723.49, down from CNY 1,134,034,516.54[71]. - Total liabilities decreased to ¥620,852,390.53 from ¥641,057,647.56 at the end of 2020, a reduction of 3.5%[84]. - Total equity attributable to shareholders of the parent company increased to CNY 1,068,697,307.55 from CNY 999,767,746.84[73]. - The total assets of the company were CNY 2,125,769,141.68, reflecting a decrease of CNY 19,572,513.62 compared to the previous period[121]. - Current liabilities totaled CNY 666,903,907.91, down from CNY 672,799,767.24, a reduction of CNY 5,895,859.33[121]. - Non-current liabilities decreased to CNY 467,130,608.63, down by CNY 13,676,654.29 from the previous period[121]. Research and Development - The development expenditure increased by 174.09%, reflecting ongoing capitalization of R&D projects[22]. - Research and development expenses increased by 51.14% compared to the same period last year, mainly due to new R&D projects and increased investment in R&D by various subsidiaries[29]. - Research and development expenses were reported at ¥9,453,640.42, an increase from ¥4,353,708.18 in the previous period[98]. Other Financial Metrics - Cash and cash equivalents as of March 31, 2021, were CNY 274,511,352.53, compared to CNY 394,745,353.21 at the end of the previous period[65]. - The company reported a credit impairment loss of ¥17,022,869.76, compared to a loss of ¥485,594.67 in the previous period[98]. - Other income decreased by 36.94% compared to the same period last year, mainly due to a reduction in government subsidies received by subsidiaries[30]. - Other current liabilities increased by 87.70% at the end of the period compared to the beginning, mainly due to the increase in advance payments received by the subsidiary Shanghai Wanze Precision Casting Co., Ltd., leading to a corresponding increase in input VAT to be transferred[26]. Miscellaneous - The company has not engaged in any investor relations activities during the reporting period[60]. - The first quarter report for 2021 was not audited[129]. - The company implemented new leasing standards since January 1, 2021, affecting the measurement of lease liabilities and right-of-use assets[121].

Financial Performance - The company's operating revenue for 2020 was ¥552,561,979.41, representing a 0.70% increase compared to ¥548,735,086.55 in 2019[26]. - The net profit attributable to shareholders for 2020 was ¥76,725,841.36, an increase of 8.56% from ¥70,675,636.77 in 2019[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥13,105,574.38, a significant increase of 437.52% compared to ¥2,438,134.38 in 2019[26]. - The net cash flow from operating activities for 2020 was ¥142,422,522.82, a decrease of 8.31% from ¥155,333,410.42 in 2019[26]. - The basic earnings per share for 2020 was ¥0.1560, up 8.56% from ¥0.1437 in 2019[26]. - The total assets at the end of 2020 were ¥2,125,769,141.68, reflecting a 3.09% increase from ¥2,062,082,761.02 at the end of 2019[26]. - The net assets attributable to shareholders at the end of 2020 were ¥999,767,746.84, a 5.48% increase from ¥947,856,160.28 at the end of 2019[26]. - The company achieved a net profit attributable to shareholders of 76,725,841.36 CNY in 2020, with a cumulative distributable profit of 242,912,701.21 CNY by the end of 2020[122]. - The cash dividend for 2020 is set at 0.60 CNY per 10 shares (including tax), representing 38.71% of the net profit attributable to shareholders[127]. Business Operations - The company transitioned its main business focus from power generation to the R&D, manufacturing, sales, and maintenance of high-temperature alloys and related technical services[21]. - The company expanded its business scope to include "investment in the pharmaceutical industry" as of September 30, 2019[24]. - The company's main business includes the research, production, and sales of micro-ecological preparations and high-temperature alloys, with a focus on expanding market presence[38]. - The product "Jin Shuangqi" achieved full coverage in grade hospitals and ranked first in sales within its category during the reporting period[38]. - The company is actively entering the retail market, with "Jin Shuangqi" ranking fourth in the micro-ecological preparation retail market[38]. - The company has established a complete R&D system for high-temperature alloy materials, covering from master alloy to powder metallurgy and high-temperature alloy components[47]. - The company has developed a core technology system for ultra-high purity high-temperature alloy smelting, primarily producing nickel-based master alloys[50]. - The company has successfully produced high-quality equiaxed, directional, and single crystal blades using self-developed nickel-based high-temperature master alloys[50]. - The company has initiated the construction of an industrialization base in Zhuhai to expand the production capacity of existing products and prepare for new probiotic product capabilities[55]. - The company has established a stable cooperation relationship with domestic research institutions and enterprises in the field of high-temperature alloys[50]. Research and Development - Research and development expenses rose by 71.22% to ¥77,792,122.49, reflecting the company's commitment to ongoing projects[78]. - The proportion of R&D investment to operating income increased from 15.98% in 2019 to 21.48% in 2020[79]. - The company has accumulated 13 invention patent applications, with 7 patents granted as of December 31, 2020[55]. - The company applied for a total of 38 invention patents and 28 utility model patents, with 40 patents authorized as of December 31, 2020[58]. - The company holds a total of 66 authorized patents in high-temperature alloy materials and components as of the end of the reporting period[79]. Market and Sales - The company achieved a total operating revenue of ¥552,561,979.41, representing a year-on-year growth of 0.70%[64]. - The sales volume of high-temperature alloy product one increased by 190.13%, while production volume decreased by 50.72%[66]. - The company successfully delivered 100,000 units in batch production for the first time, enhancing its market presence in aviation, gas turbines, and automotive sectors[59]. - The sales revenue from high-temperature materials increased by 270.50% to ¥26,116,706.28, making up 31.53% of the operating costs[72]. - The company’s revenue from the pharmaceutical manufacturing sector was ¥516,469,436.49, a decrease of 2.89% year-on-year[65]. - The company’s gross profit margin in the pharmaceutical manufacturing sector was 89.21%, a decrease of 0.25 percentage points compared to the previous year[65]. Corporate Governance and Compliance - The company has committed to ensuring the accuracy and completeness of its financial reports, with key personnel affirming this responsibility[6]. - The company has detailed the risks it faces and the measures it will take to address them in its annual report[8]. - Wanze Co. has the right of first refusal for any new technologies or products developed by controlling parties that are related to its production and operations[135]. - The company will strictly adhere to laws and regulations regarding related party transactions, ensuring fair and reasonable terms[134]. - The company guarantees the independence of its personnel, assets, finances, and operations to protect the interests of all shareholders, especially minority shareholders[134]. - The company has no undisclosed liabilities, ensuring transparency in its financial dealings[135]. - The company has committed to timely and accurate disclosure of its financial and operational performance reports[135]. Cash Flow and Investments - Operating cash inflow decreased by 47.78% to ¥701,838,612.22, primarily due to the inclusion of cash flows from subsidiaries in 2019[83]. - Operating cash outflow decreased by 52.94% to ¥559,416,089.40, also influenced by the previous year's cash flows from subsidiaries[83]. - Investment cash inflow increased by 185.67% to ¥382,870,229.98, mainly due to equity transfer payments received from Xi'an Xinhongye[83]. - Investment cash outflow decreased by 63.04% to ¥217,902,804.10, as previous expenditures on subsidiaries were significantly lower this year[83]. - Financing cash inflow decreased by 38.63% to ¥268,259,372.79, attributed to the repayment of long-term loans by the parent company[83]. - Net increase in cash and cash equivalents rose by 252.18% to ¥204,218,685.42, driven by equity transfer payments and debt recovery[83]. - Cash and cash equivalents at year-end amounted to ¥394,745,353.21, representing 18.57% of total assets, an increase of 9.53 percentage points[87]. Shareholder Relations - The company declared a cash dividend of 0.6 CNY per 10 shares, totaling 29,697,785.76 CNY for the reporting period[128]. - The total distributable profit available for shareholders at the end of 2020 was 242,912,701.21 CNY[128]. - The cash dividend accounted for 100% of the total profit distribution[128]. - No bonus shares were issued during the reporting period, and no capital reserve was converted into share capital[128]. - The company committed to a cash dividend policy, ensuring that if the annual distributable profit is positive and earnings per share exceed 0.05 yuan, it will distribute profits through cash or a combination of cash and stock, without exceeding the cumulative distributable profit[145]. Risk Management - The company is addressing risks related to profitability by leveraging stable cash flow from its microbial preparation business to support the growth of its high-temperature alloy business[112]. - The company has completed the cleanup of its real estate business and will no longer engage in real estate activities or invest in new real estate projects[142]. - The company has promised to adhere to the relevant measures for compensation and any commitments made regarding compensation for losses caused to Wanze Co. or its investors[142]. Social Responsibility - The company donated approximately 2 million RMB worth of intestinal microecological preparations to over 50 hospitals in various provinces for COVID-19 treatment, including 500,000 RMB specifically for hospitals in Wuhan[194]. - The company has not engaged in any significant environmental violations during the reporting period and is not classified as a key pollutant discharge unit by environmental protection authorities[198].

Financial Performance - Net profit attributable to shareholders was ¥20,546,550.94, down 55.77% year-on-year[10]. - Operating revenue for the reporting period was ¥141,153,480.31, a decline of 2.59% compared to the same period last year[10]. - Basic earnings per share were ¥0.0418, reflecting a decrease of 55.77% compared to the same period last year[10]. - The net profit for the period was 16,359,643.91, down from 43,460,935.81 in the previous period, indicating a decline of about 62.4%[66]. - The total profit for the period was 22,077,255.93, compared to 50,317,946.33 in the previous period, showing a decline of approximately 56.1%[66]. - The total comprehensive income attributable to the parent company's owners was 20,546,550.94, compared to 46,450,502.95 in the previous period, a decrease of about 55.7%[69]. - Net profit for the current period is ¥61,802,979.13, a decrease of 2.8% compared to ¥63,687,228.00 in the previous period[80]. - The total comprehensive income attributable to the parent company's owners is ¥69,599,466.25, down from ¥81,355,423.35 in the previous period[84]. Cash Flow - The net cash flow from operating activities was -¥30,476,166.99, an increase in outflow of 77.55% year-on-year[10]. - Cash inflow from operating activities totaled 492,050,756.08, down 66.0% from 1,447,939,391.40 in the previous period[93]. - Cash outflow from operating activities was 529,810,831.83, a decrease of 67.0% compared to 1,603,294,276.27 in the previous period[93]. - The net cash flow from operating activities was -37,760,075.75, an improvement from -155,354,884.87 in the previous period[93]. - The net cash flow from investing activities was 83,079,821.92, a significant recovery from -181,862,198.10 in the previous period[96]. - Cash inflow from financing activities was 236,509,272.79, down 33.1% from 353,214,810.45 in the previous period[96]. - The net cash flow from financing activities was -75,681,924.93, compared to a positive flow of 128,750,497.45 in the previous period[96]. - The ending cash and cash equivalents balance was 150,852,625.45, an increase from 87,490,265.12 in the previous period[96]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥2,027,416,601.02, a decrease of 1.68% compared to the end of the previous year[10]. - Total liabilities decreased from 1,114,369,083.09 to 1,042,489,198.76, a reduction of approximately 6.5%[50]. - Owner's equity increased from 947,713,677.93 to 984,927,402.26, reflecting a growth of about 3.9%[53]. - Current assets decreased from 1,009,933,540.17 to 854,897,394.48, a decline of about 15.4%[54]. - Total non-current liabilities decreased from 505,365,520.14 to 476,962,189.67, a decrease of about 5.6%[50]. - Current liabilities totaled 602,145,668.28, down from 658,041,537.66, reflecting a decrease of approximately 8.5%[60]. - Total current assets reached $744.61 million, with significant components including $191.04 million in other receivables and $42.24 million in inventory[107]. - Total non-current assets were reported at $1.32 billion, with fixed assets accounting for $375.27 million and intangible assets at $170.62 million[107]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,556[14]. - The largest shareholder, Wanze Group Co., Ltd., held 42.28% of the shares, totaling 207,934,027 shares[14]. Expenses - The total operating costs for the period were 117,226,288.86, a decrease from 126,529,163.54 in the previous period, representing a reduction of approximately 7.5%[63]. - Research and development expenses increased to 16,766,193.39, compared to 14,274,441.85 in the previous period, reflecting a growth of approximately 17.5%[63]. - The sales expenses decreased to 51,229,063.40 from 63,632,632.41, a reduction of about 19.5%[63]. - The financial expenses were reported at 2,500,699.63, down from 3,400,857.59, indicating a decrease of approximately 26.4%[63]. - Research and development expenses increased significantly to ¥45,436,426.48, up 107% from ¥21,934,857.92 in the previous period[77]. Other Financial Metrics - The weighted average return on net assets was 2.09%, a decrease of 2.56 percentage points year-on-year[10]. - Government subsidies recognized in the current period amounted to ¥19,381,511.45[10]. - Non-operating income and expenses included a gain from financial assets of ¥40,003,834.01[10]. - The company experienced a credit impairment loss of -3,140,638.68, compared to -768,112.58 in the previous period, reflecting a significant increase in losses[63]. - The company reported a credit impairment loss of ¥9,493,591.19 compared to a gain of ¥4,643,606.61 in the previous period[80].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥230,984,776.25, a decrease of 9.64% compared to ¥255,619,569.02 in the same period last year[23] - Net profit attributable to shareholders was ¥49,052,915.31, an increase of 40.53% from ¥34,904,920.40 year-on-year[23] - The net profit after deducting non-recurring gains and losses was ¥3,191,387.18, down 81.31% from ¥17,079,652.40 in the previous year[23] - Basic earnings per share rose to ¥0.0997, reflecting a 40.42% increase from ¥0.0710 in the same period last year[23] - The company achieved operating revenue of ¥230,984,776.25, a decrease of 9.64% compared to the same period last year[49] - Net profit attributable to the parent company was ¥4,905,29, an increase of 40.53% year-on-year[49] Cash Flow and Assets - The net cash flow from operating activities improved significantly to -¥7,283,908.76, a 90.27% increase compared to -¥74,852,857.07 last year[23] - Cash and cash equivalents at the end of the reporting period amounted to ¥300,489,670.87, representing 14.77% of total assets, an increase of 7.42% compared to the previous year[59] - Total assets at the end of the reporting period were ¥2,033,968,000.62, a decrease of 1.36% from ¥2,062,082,761.02 at the end of the previous year[23] - Accounts receivable reached ¥101,664,627.85, accounting for 5.00% of total assets, up by 0.35% year-on-year[59] - Fixed assets increased to ¥405,682,021.91, making up 19.95% of total assets, a rise of 9.36% due to the transfer of construction projects to fixed assets[59] - The total amount of restricted cash was ¥526,885,095.43, primarily due to collateral guarantees and government subsidies with usage restrictions[63] Research and Development - R&D expenses reached a level that meets capitalization requirements but have not yet reached the predetermined usable state[35] - Research and development expenses increased by 274.26% to ¥28,670,233.09, primarily due to significant R&D expenditures not meeting capitalization conditions[50] - The company has developed several proprietary high-temperature alloy materials and obtained multiple patents related to high-temperature alloy business[41] - The company has 19 new products under development, with 14 having transitioned to mass production[48] - The company continues to enhance its market competitiveness through ongoing R&D and innovation in new micro-ecological preparations[44] Business Operations - The company's main business includes the research, production, and sales of micro-ecological preparations and high-temperature alloys[34] - The micro-ecological preparation "Jinshuangqi" has been included in the national medical insurance directory for several consecutive years, indicating high market recognition and share[34] - The sales of micro-ecological preparations experienced a decline due to the pandemic but have since recovered to last year's levels and are showing growth[44] - The company has established a leading micro-ecological strain library and possesses advanced strain selection and preservation technologies[39] - The company has adjusted its business strategies in response to the pandemic and market changes to ensure normal operations[44] Equity and Shareholder Information - The company completed the employee stock ownership plan, purchasing 2,736,997 shares at an average price of 9.13 yuan per share, totaling approximately 24.99 million yuan[95] - The total number of shares after the recent changes is 491,785,096, with 99.94% being unrestricted shares[146] - The largest shareholder, Wanze Group Co., Ltd., holds 42.28% of shares, totaling 207,934,027 shares[154] - Total number of common shareholders at the end of the reporting period was 19,367[154] Strategic Initiatives - The company plans to leverage national industrial and financial policies to support the development of both the high-temperature alloy and microbial agent businesses, aiming for resource sharing and accelerated growth[77] - The company is currently in a strategic transition period, with the high-temperature alloy business still in the early development stage, relying on the stable cash flow from the microbial agent business to support profitability[77] - The company is actively expanding its export business to mitigate the impact of domestic COVID-19 delays, focusing on markets in the US and UK[48] Regulatory and Compliance - The company continues to comply with regulatory requirements and is actively engaging with the CSRC regarding its financing activities[142] - There were no significant related party transactions during the reporting period[120] - The company did not engage in any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[121] - The company reported no major environmental protection issues during the reporting period[136]

Financial Performance - Revenue for Q1 2020 was CNY 169,266,661.07, an increase of 31.67% compared to CNY 128,553,511.28 in the same period last year[10]. - Net profit attributable to shareholders was CNY 45,126,287.76, representing a 135.09% increase from CNY 19,195,591.01 year-on-year[10]. - Net profit excluding non-recurring gains and losses reached CNY 34,387,482.10, up 290.41% from CNY 8,808,068.45 in the previous year[10]. - Basic earnings per share increased to CNY 0.0918, up 135.38% from CNY 0.0390 in the same period last year[10]. - Operating profit for the current period was ¥56,447,339.61, significantly higher than ¥13,789,713.01 in the previous period, reflecting a growth of approximately 309.5%[79]. - Net profit for the current period was ¥44,936,861.05, compared to ¥6,532,654.67 in the previous period, marking an increase of around 588.5%[79]. - The total comprehensive income for the current period was ¥44,936,861.05, compared to ¥6,532,654.67 in the previous period, indicating a substantial increase of around 588.5%[89]. Cash Flow - Operating cash flow for the period was CNY 106,796,911.40, a significant improvement from a negative CNY 194,158,686.03 in the same quarter last year, marking a 155.00% increase[10]. - Net cash flow from operating activities increased by 155.00% year-on-year, due to reduced operating expenses related to real estate business[15]. - Operating cash inflow for the current period was ¥217,274,815.69, a decrease of 77.05% from ¥945,544,824.58 in the previous period[93]. - Cash inflow from investment activities was ¥90,025,359.75, while cash outflow was ¥120,168,006.84, resulting in a net cash flow of -¥30,142,647.09[96]. - Net cash flow from financing activities decreased by 60.00% year-on-year, due to a reduction in long-term borrowings[31]. - The net increase in cash and cash equivalents was ¥178,023,863.98, compared to a decrease of ¥29,106,026.38 in the previous period[96]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,206,933,443.46, a 7.02% increase from CNY 2,062,082,761.02 at the end of the previous year[10]. - Total liabilities increased to CNY 1,214,282,904.48 from CNY 1,114,369,083.09, marking an increase of approximately 8.9%[62]. - Current liabilities totaled CNY 709,009,572.08, up from CNY 609,003,562.95, indicating a rise of around 16.4%[59]. - Non-current liabilities remained relatively stable at CNY 505,273,332.40, compared to CNY 505,365,520.14[59]. - The company's equity attributable to shareholders increased to CNY 992,982,448.04 from CNY 947,856,160.28, a growth of about 4.8%[62]. Research and Development - R&D expenses surged by 1,308.41% year-on-year, driven by new R&D projects and increased investment[28]. - Research and development expenses increased to ¥10,304,991.46 from ¥731,677.78, showing a significant rise of about 1,306.5%[76]. Government Subsidies and Other Income - The company received government subsidies amounting to CNY 13,937,661.42 during the reporting period[10]. - Other income rose by 311.56% year-on-year, mainly due to government subsidies received by subsidiaries[28]. - Other income for the current period was ¥13,937,661.42, compared to ¥3,386,506.19 in the previous period, indicating an increase of approximately 311.5%[76]. Borrowings and Financial Management - Short-term borrowings increased by 123.80% compared to the beginning of the period, primarily due to new bank loans[23]. - The company plans to raise up to 130 million yuan through a non-public offering of A-shares[35]. - The company reported a decrease in employee compensation payable to CNY 8,928,604.48 from CNY 11,983,568.24, a reduction of approximately 25.5%[59].

Financial Performance - The company reported a total revenue of 491,785,096 CNY for the year 2019, with a cash dividend of 0.5 CNY per 10 shares distributed to all shareholders[8]. - The company's operating revenue for 2019 was ¥548,735,086.55, a decrease of 22.29% compared to the previous year[25]. - The net profit attributable to shareholders for 2019 was ¥70,675,636.77, reflecting a decline of 51.23% year-on-year[25]. - The net profit after deducting non-recurring gains and losses was ¥2,438,134.38, a significant improvement of 104.77% compared to the previous year[25]. - The total assets at the end of 2019 were ¥2,062,082,761.02, down 34.91% from the previous year[27]. - The basic earnings per share for 2019 was ¥0.1437, a decrease of 51.22% compared to the previous year[27]. - The weighted average return on net assets was 5.93%, a decrease of 2.34 percentage points from the previous year[27]. - The company achieved a net profit of 138,252,485.37 CNY from the merger of subsidiaries under common control, significantly impacting overall performance[1]. - The company reported a net profit impact of -9,152,590.36 CNY due to a major asset swap involving Changzhou Wanze Tianhai Real Estate Co., Ltd.[1]. Business Transformation - The company transitioned its main business focus from power generation to the research, development, manufacturing, and sales of high-temperature alloys and related technical services[23]. - The company completed a major asset swap in March 2019, changing its main business focus to the research, production, and sales of micro-ecological preparations and high-temperature alloys[38]. - The company has undergone significant changes in its main business operations since its listing in 1994, reflecting a strategic shift towards real estate and manufacturing[23]. - The company has expanded its business scope to include investment in the pharmaceutical industry as of September 30, 2019[23]. - The company has completed the cleanup of its real estate business and will no longer engage in new real estate investments[146]. - The company is committed to its strategic transformation and aims to improve its financial performance through these business adjustments[175]. Shareholder Relations - The company’s board of directors has approved a profit distribution plan, which includes cash dividends for shareholders[8]. - The company will distribute a cash dividend of 0.5 yuan per 10 shares (including tax) based on a total share capital of 491,785,096 shares as of December 31, 2019[127]. - The company has committed to distributing at least 30% of the average distributable profits over the next three years in cash[147]. - The company plans to distribute no less than 10% of the annual distributable profits in cash, provided that the profits are positive and earnings per share exceed 0.05 CNY[151]. - The cash dividends distributed in 2019 were consistent with the previous two years, reflecting a stable dividend policy[131]. - The company has ongoing commitments to ensure the independence of its operations and protect the interests of minority shareholders[136]. Research and Development - Research and development (R&D) investment reached ¥87,667,594.39, which is 15.98% of operating revenue, an increase of 5.62% compared to the previous year[79]. - The number of R&D personnel increased to 213, up from 157 in the previous year, representing 24.74% of the total workforce[79]. - The company has developed multiple proprietary high-temperature alloy materials and obtained several patents related to high-temperature alloy business, establishing stable cooperation with domestic research institutions and enterprises[48]. - The company has established a leading domestic probiotic strain library and possesses advanced strain selection and preservation technologies, enhancing its competitive edge in the micro-ecological preparation field[45]. - The company is investing in a microbiological research center to bolster its R&D capabilities and mitigate potential pricing pressures from recent pharmaceutical reforms[120]. Market Performance - Revenue from the pharmaceutical manufacturing sector increased to ¥531,865,297.09, accounting for 96.93% of total revenue, up from 62.79% in 2018[62]. - The revenue from the real estate sector dropped to ¥0.00, down from ¥244,685,770.60 in 2018, a decrease of 34.65 percentage points[62]. - The gross profit margin for the pharmaceutical manufacturing sector was 89.46%, a decrease of 1.63 percentage points compared to the previous year[65]. - Sales volume for pharmaceutical manufacturing increased by 7.38% to 25,126,100 units in 2019[66]. - The company’s revenue from the southern region decreased to ¥399,781,336.58, while revenue from the northern region increased to ¥132,083,960.51, reflecting a shift in regional performance[65]. Corporate Governance - The company has committed to not engaging in business activities that would compete with its controlling shareholder, particularly in the power and real estate sectors[136]. - The company has made a commitment to not unfairly benefit other entities or individuals at the expense of company interests[146]. - The company has established a sound internal control system to protect the interests of shareholders, especially minority shareholders[194]. - The company will accurately and timely disclose its mid-term and annual financial and operational performance reports[142]. - The commitments made by Lin Weiguang and Wanzhou Group are intended to protect the rights and interests of all shareholders, especially minority shareholders[139]. Asset Management - The company completed a significant asset swap in the first half of 2019, acquiring 100% equity of Inner Mongolia Shuangqi while divesting 100% equity of Changzhou Wanze Tianhai and 69% equity of Beijing Wanze Bixuan[44]. - The company disposed of 100% equity in Changzhou Wanze Tianhai and 69% equity in Beijing Wanze Bixuan, generating a transaction price of CNY 117.90 million[97]. - The company recognized a loss of 0.93 million yuan from the asset swap transaction, reflecting the difference between the book value and the transaction price[177]. - The company has no recorded liabilities and commits to not engaging in stock speculation using insider information[142]. Social Responsibility - The company actively contributed to social responsibility by donating approximately 2 million yuan worth of gut microbiota preparations to hospitals in epidemic areas[197]. - The company is not classified as a key pollutant discharge unit and complied with environmental protection laws during the reporting period[199]. - The company has not initiated targeted poverty alleviation efforts during the reporting year and has no subsequent plans[198].