Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥18.02 billion, a decrease of 5.59% compared to ¥19.08 billion in the same period last year[13]. - The net profit attributable to shareholders of the listed company was approximately ¥1.50 billion, down 16.72% from ¥1.80 billion in the previous year[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥1.65 billion, a decrease of 12.25% compared to ¥1.89 billion last year[13]. - The net cash flow from operating activities was approximately ¥1.18 billion, a significant decline of 63.37% from ¥3.22 billion in the same period last year[13]. - Basic earnings per share decreased to ¥1.10, down 21.99% from ¥1.41 in the previous year[13]. - Diluted earnings per share were ¥1.09, a decrease of 22.14% compared to ¥1.40 last year[13]. - The weighted average return on net assets was 3.89%, down from 4.59% in the previous year[13]. - Total assets at the end of the reporting period were approximately ¥49.90 billion, a decrease of 4.57% from ¥52.29 billion at the end of the previous year[13]. - The net assets attributable to shareholders of the listed company were approximately ¥37.07 billion, down 3.03% from ¥38.23 billion at the end of the previous year[13]. Research and Development - Research and development expenses for the period totaled 129 million yuan, an increase of 21.54% compared to the previous year[22]. - The company has established a digital transformation strategy that includes a partnership with Huawei for AI drug research and development[48]. - A new central research institute has been established to strengthen R&D capabilities, led by appointed experts in the field[29]. - The company is focusing on enhancing its research and development capabilities to drive future growth[138]. Market Strategy and Product Development - The company plans to focus on the development of medical devices as a key growth area, particularly in the fields of chronic disease and pain management[23]. - The company launched two new toothpaste variants during the reporting period, enhancing its product lineup[23]. - The company is leveraging AI technology to create personalized skincare solutions, with over 13 AI dermatological diagnostic models developed[23]. - The company is focusing on existing businesses and restructuring around a "customer-centric" approach to build a brand for traditional Chinese medicine resources[24]. - The company aims to innovate in the bone injury sector by acquiring upstream orthopedic device companies and expanding into advanced wound care[42]. - The company is committed to developing women's health products, focusing on gynecological traditional Chinese medicine and functional foods for weight management[43]. - The company is expanding its oral care product line, including functional toothpaste and mouthwash, to meet diverse consumer needs[39]. Financial Management and Investments - The company invested 4.27 billion yuan in Shanghai Pharmaceuticals, becoming a strategic shareholder and discussing further collaboration[30]. - The company reported a credit impairment loss of CNY 669,513,755.43, representing a 40.41% decrease in profit[53]. - The company reported a total of ¥5,587,774,173.62 in financial assets at the beginning of the period, which decreased to ¥3,329,478,031.35 by the end of the period[56]. - The company has made a provision of 4.19 million yuan for a contract dispute case that is currently under appeal[87]. Corporate Governance and Management Changes - The company appointed a new Chief Financial Officer on June 1, 2022, to enhance the management structure of the listed company[70]. - The company appointed a Chief Scientist on January 24, 2022, to further enrich its research and development pipeline[70]. - The company’s CFO and Secretary of the Board resigned on January 14, 2022, indicating potential changes in management[132]. Environmental and Social Responsibility - Yunnan Baiyao Group reported no exceedance of pollutant discharge standards in the first half of 2022, with all emissions meeting regulatory requirements[79]. - The company has actively participated in social responsibility initiatives, particularly in rural revitalization, by training local doctors and providing suitable medications for common diseases[82]. - The company continues to promote low-carbon and energy-efficient practices in its production and office operations, utilizing modern building materials to reduce energy consumption[80]. Shareholder and Equity Information - A total of 1,312 employees participated in the employee stock ownership plan, holding a total of 23,379,996 shares, which represents 1.30% of the company's total share capital[73]. - The stock option incentive plan saw 941,029 shares exercised during the reporting period, with the total number of options adjusted from 15,119,534 to 6,772,080 due to unexercised options being canceled[72]. - The company plans to repurchase up to 9 million shares, representing 0.7016% of the total share capital, with a maximum repurchase price of CNY 124.38 per share, totaling an estimated amount of up to CNY 1.11942 billion[108]. Future Outlook and Strategic Goals - The company expects its net profit for 2022 to be no less than the same period last year, aligning with its "New Baiyao, Big Health" strategy[105]. - The company plans to enhance its digital marketing capabilities and establish a brand and user operation center to better understand consumer needs[68]. - The company aims to expand its brand value and social service capabilities by drawing on experiences from poverty alleviation and rural revitalization efforts[82]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its offerings[156].

Financial Performance - The company's operating revenue for Q1 2022 was ¥10,327,715,582.47, a decrease of 8.70% compared to the same period last year[4] - Net profit attributable to shareholders was ¥763,157,801.48, an increase of 19.81% year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥1,365,307,573.86, down 3.34% from the previous year[4] - Basic earnings per share were ¥0.6, reflecting an increase of 18.33% year-on-year[4] - The company's net profit for 2021 was CNY 279,634,000, a decrease of CNY 271,470,000 or -49.26% compared to 2020's net profit of CNY 551,104,000[21] - Net profit attributable to shareholders of the parent company was ¥914,368,241.49, compared to ¥763,157,801.48 in the same period last year, representing a growth of 19.7%[29] Cash Flow - The net cash flow from operating activities was -¥128,050,971.43, a decline of 33.00% compared to the previous year[4] - Cash flow from operating activities was ¥8,868,217,236.81, an increase from ¥8,565,705,655.77 in the previous year, indicating a growth of 3.5%[30] - The net cash flow from operating activities was -170,306,941.45 CNY, compared to -128,050,971.43 CNY in the previous year, indicating a decline in operational cash flow[31] - The total cash and cash equivalents at the end of the period were 10,669,753,998.57 CNY, down from 13,724,291,694.91 CNY year-over-year[32] - Cash outflow for operating activities totaled 9,187,760,379.36 CNY, compared to 8,777,686,067.49 CNY in the previous year, indicating increased operational expenses[31] Assets and Liabilities - Total assets at the end of the reporting period were ¥52,292,765,646.22, up 1.58% from the end of the previous year[4] - The total current assets at the end of the reporting period amounted to CNY 35,434,922,089.45, down from CNY 45,503,949,943.31 at the beginning of the year[25] - The total liabilities decreased to ¥13,639,330,765.48 from ¥13,858,947,800.63, a reduction of 1.6%[28] - The company's total assets reached CNY 53,119,993,187.71, compared to CNY 52,292,765,646.22 at the beginning of the year[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 154,539[10] - Yunnan State-owned Equity Operation Management Co., Ltd. holds 25.03% of shares, totaling 321,160,222 shares, with 136,245,600 shares pledged[10] - Xinhua Dou Industrial Group Co., Ltd. holds 24.26% of shares, totaling 311,244,460 shares, with 207,510,000 shares pledged[10] - Public shareholders hold 1,382,215,800 shares of Wanlong Holdings, representing 21.44% of all issued shares[14] Investments and Acquisitions - The company reported a significant increase in goodwill by 1114.74% due to business combinations[9] - The cash flow from investing activities showed a net outflow of -¥8,166,681,896.54, a decrease of 1452.69% compared to the previous year[9] - The company has successfully acquired 1,319,881,798 shares of Wanlong Holdings, representing 20.47% of all issued shares, as part of a comprehensive offer[12] - The total shares held by the company and its concerted parties reached 5,065,936,360 shares, accounting for 78.56% of Wanlong Holdings[14] Research and Development - The company appointed Mr. Zhang Ning as the Chief Scientist to enhance its R&D capabilities in traditional Chinese medicine and advanced biopharmaceuticals[15] - The company is actively expanding its R&D pipeline while integrating various product forms to create comprehensive pharmaceutical solutions[15] - Research and development expenses were ¥52,322,884.63, slightly down from ¥53,003,570.53 in the previous year[28] Future Outlook - Yunnan Baiyao plans to distribute a cash dividend of 16 yuan per 10 shares and issue 4 bonus shares per 10 shares, with the total distribution amount to be adjusted based on the number of shares at the time of the dividend distribution[19] - The company aims for a net profit in 2022 that is not less than the same period last year, focusing on its "New Baiyao, Big Health" strategy[20] - The estimated total amount of daily related transactions with Jiangsu Yuyue Medical Equipment Co., Ltd. and Kunming Hongyun Hospital Co., Ltd. for 2022 is 34.1 million yuan[20] Board and Governance - Yunnan Baiyao's board approved the 2021 annual reports and proposed a budget for 2022 during the board meeting on March 24, 2022[19] - The board has authorized the group office to approve external investments and donations within specified limits, enhancing operational flexibility[21] - The company will hold an online performance briefing on April 8, 2022, to discuss its 2021 annual operating results[23]

Financial Performance - The company's operating revenue for 2021 was ¥36,373,919,016.03, representing an increase of 11.09% compared to ¥32,742,766,763.79 in 2020[13]. - The net profit attributable to shareholders for 2021 was ¥2,803,621,556.87, a decrease of 49.17% from ¥5,516,072,178.81 in 2020[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥3,338,625,079.81, an increase of 15.17% compared to ¥2,898,877,590.10 in 2020[13]. - The net cash flow from operating activities for 2021 was ¥5,223,278,282.50, up 36.42% from ¥3,828,906,632.02 in 2020[13]. - The total assets at the end of 2021 were ¥52,292,765,646.22, a decrease of 5.30% from ¥55,219,448,243.00 at the end of 2020[13]. - The net assets attributable to shareholders at the end of 2021 were ¥38,226,136,908.89, a slight increase of 0.46% from ¥38,052,550,013.05 at the end of 2020[13]. - The basic earnings per share for 2021 were ¥2.21, down 48.84% from ¥4.32 in 2020[13]. - The diluted earnings per share for 2021 were ¥2.18, a decrease of 49.42% compared to ¥4.31 in 2020[13]. - The total profit for the year was 3.482 billion yuan, a decrease of 48.80% compared to 6.801 billion yuan in the previous year[35]. - The company achieved a significant milestone by upgrading its MSCI ESG rating from BBB to A in August 2021, becoming the highest-rated listed company in Yunnan Province[49]. Dividends and Shareholder Returns - The company reported a cash dividend of 16.00 RMB (including tax) for every 10 shares, along with 4 bonus shares (including tax) to all shareholders[3]. - In 2021, Yunnan Baiyao achieved continuous dividends to shareholders for 29 consecutive years since its listing in 1993[22]. - The company distributed cash dividends of 39.00 CNY per 10 shares, totaling 4,916,742,948.00 CNY during the reporting period[104]. - The cash dividend payout ratio was 80% of the distributable profit, which amounted to 5,720,640,713.51 CNY[151]. - The company plans to distribute additional stock dividends of 4 shares for every 10 shares held, pending shareholder approval[152]. Corporate Governance and Compliance - The company emphasizes the importance of accurate and complete financial reporting, with key personnel affirming the integrity of the annual report[2]. - The company has established a comprehensive internal control system that effectively mitigates operational risks and safeguards assets[107]. - The company maintains a complete separation from its first major shareholders in terms of personnel, assets, finance, and operations, ensuring independence[109]. - The company has a robust governance structure that complies with the requirements set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange[108]. - The board of directors held 10 meetings and approved 73 proposals, ensuring compliance with legal and regulatory requirements[105]. - The supervisory board convened 7 meetings and reviewed 39 proposals, maintaining oversight of the company's financial and operational activities[106]. Research and Development - The company aims to develop innovative traditional Chinese medicine for cardiovascular diseases, with clinical trial approval already obtained[65]. - The company is working on the clinical research of a new traditional Chinese medicine, aiming for market registration and approval[65]. - The company has completed the formulation design and production process research for special medical food, with plans for market registration[65]. - Research and development expenses increased by 82.99% to ¥331,359,703.27, driven by new projects including special medical food and biomedical skincare product development[64][66]. - The number of R&D personnel increased by 33.25% to 1,106, with R&D personnel now accounting for 13.07% of the total workforce[66]. Market Expansion and Strategic Initiatives - The company is actively exploring new business areas such as personalized skincare products, health supplements, and home medical devices, in response to market trends[23]. - The company plans to accelerate the opening of D to C platforms in major urban clusters across the country in 2022[30]. - The company aims to enhance its global operations and internationalization, focusing on developing large pharmaceutical companies with high international sales proportions during the "14th Five-Year Plan" period[90]. - The company is committed to optimizing its product and service matrix to become a comprehensive solution provider in the healthcare sector, leveraging big data services[95]. - The company plans to explore the medical beauty sector by developing a personalized skin management system supported by big data and advanced medical expertise[97]. Social Responsibility and Community Engagement - Yunnan Baiyao has been actively involved in poverty alleviation and rural revitalization efforts, providing training for rural doctors and donating medicines to improve healthcare in remote areas[176]. - The company plans to celebrate its 120th anniversary in 2022, focusing on the core strategy of "Guarding Life and Health" to enhance its brand value and social responsibility[177]. - Yunnan Baiyao's commitment to social responsibility is reflected in its long-term planning and implementation of public welfare projects[176]. - The company aims to strengthen its brand value by actively participating in social responsibility initiatives, contributing to sustainable development[176]. Environmental Compliance and Sustainability - Yunnan Baiyao Group reported a total emission of 3 tons/year for nitrogen oxides (NOX) from three boilers, with a concentration of 81 mg/nm3, adhering to the pharmaceutical industry air pollutant discharge standards[171]. - The company achieved a total annual discharge of 8.55 tons for Chemical Oxygen Demand (COD) and 0.22 tons for ammonia nitrogen, both within the simplified management range[171]. - The company has established a comprehensive energy online monitoring system to meet annual energy-saving targets and enhance energy efficiency, contributing to carbon reduction efforts[174]. - Yunnan Baiyao Group has maintained compliance with pollution discharge standards, with no exceedances reported in the current year[172]. Employee Engagement and Development - The total number of employees at the end of the reporting period was 8,464, with 3,651 in the parent company and 4,813 in major subsidiaries[144]. - The employee stock ownership plan for 2021 involved 1,312 participants, representing an increase of over 100% compared to the previous year[146]. - The company conducted over 400 training sessions in 2021, totaling more than 250,000 hours of training for employees[147]. - The company provides comprehensive insurance coverage for employees, including commercial insurance for health protection[145]. Future Outlook and Strategic Goals - The company has set a revenue target of CNY 12 billion for 2022, aiming for a growth rate of approximately 5%[116]. - The company plans to explore potential acquisitions in the health and wellness sector to enhance its product portfolio[122]. - The company is focused on developing new products and technologies to drive growth and meet market demands[181]. - The company is committed to its mission of "guarding life and health" while focusing on technological innovation and organizational change as strategic drivers for future growth[100].

Financial Performance - The company's revenue for Q3 2021 was ¥9,279,405,760.86, representing a 9.98% increase year-over-year, while the year-to-date revenue reached ¥28,362,522,490.00, up 18.52% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2021 was ¥648,867,036.60, a decrease of 63.94% year-over-year, with a year-to-date net profit of ¥2,450,534,047.88, down 42.38% compared to the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,045,893,510.91 for Q3 2021, a decline of 21.70% year-over-year, while the year-to-date figure was ¥2,931,333,010.23, down 7.96%[5] - Total operating revenue for the third quarter reached ¥28.36 billion, an increase of 18.1% compared to ¥23.93 billion in the same period last year[19] - Net profit for the quarter was ¥2.45 billion, a decrease of 42.3% from ¥4.25 billion in the previous year[20] - Total comprehensive income for the third quarter was CNY 2,453,164,679.29, a decrease from CNY 4,249,556,604.22 in the same period last year[21] - The company reported a decrease in total comprehensive income attributable to the parent company, which was CNY 2,451,528,036.92, down from CNY 4,253,737,858.54[21] Cash Flow and Liquidity - The company's cash flow from operating activities for the year-to-date period was ¥6,533,923,331.40, reflecting an increase of 87.05% compared to the same period last year[5] - Cash inflow from operating activities totaled CNY 32,128,274,570.38, up from CNY 27,559,602,718.15 year-on-year[22] - Cash outflow from operating activities was CNY 25,594,351,238.98, compared to CNY 24,066,382,280.16 in the previous year[23] - Net cash flow from operating activities increased to CNY 6,533,923,331.40, compared to CNY 3,493,220,437.99 in the previous year[23] - Net cash flow from investing activities was CNY 1,431,346,301.04, a significant improvement from a negative CNY 5,321,539,763.49 in the previous year[23] - Cash and cash equivalents at the end of the period reached CNY 17,677,017,628.05, compared to CNY 7,804,731,057.00 at the end of the previous year[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥52,233,707,941.33, a decrease of 5.41% from the end of the previous year[6] - The total assets of the company decreased to ¥52.23 billion from ¥55.22 billion, a decline of 5.4% year-on-year[19] - Total liabilities decreased to ¥14.08 billion from ¥16.88 billion, a reduction of 16.5% compared to the previous year[19] - The total current assets decreased to approximately ¥46.53 billion from ¥49.26 billion year-over-year, representing a decline of 5.54%[17] Shareholder Information - The total number of common shareholders at the end of the reporting period was 161,054, with the largest shareholder, Yunnan State-Owned Equity Operation Management Co., Ltd., holding 25.04% of shares, equating to 321,160,222 shares[12] - The top ten shareholders include Xinhua Du Industrial Group Co., Ltd. with a holding of 24.27%, which translates to 311,244,460 shares, of which 207,510,000 shares are pledged[12] - The total number of preferred shareholders with restored voting rights was not applicable, indicating no preferred shares were reported[14] Operational Changes - The company experienced a change in its board of directors, with two members resigning due to personal and work-related reasons, which will not affect the board's operational capacity[16] Expenses and Investments - Total operating costs amounted to ¥24.43 billion, up 21.5% from ¥20.16 billion year-on-year[20] - Research and development expenses increased to ¥195.58 million, compared to ¥126.79 million in the same quarter last year, reflecting a growth of 54.3%[20] - The company reported an investment income of ¥707.81 million, an increase from ¥564.56 million in the previous year, representing a growth of 25.4%[20] Other Financial Metrics - The weighted average return on equity was 1.73%, down 3.08% year-over-year[6] - Basic earnings per share decreased to CNY 1.92 from CNY 3.33 year-on-year[21] - Deferred income tax liabilities decreased significantly from ¥299.95 million to ¥55.32 million, a decline of 81.5% year-on-year[19] - The company confirmed share-based payment expenses of ¥866 million, which was not present in the previous period; excluding this impact, the net profit attributable to shareholders after deducting non-recurring gains and losses would have increased by 15.14% year-over-year[7] Financial Asset Changes - The company experienced a 90.66% decrease in notes receivable, primarily due to an increase in bill discounts during the reporting period[11] - The company reported a significant reduction in trading financial assets, which decreased to approximately ¥8.74 billion from ¥11.23 billion, a decline of 22.15%[17] - The company reported a 68.07% decrease in cash flow from financing activities, mainly due to increased cash payments for debt repayment and dividends compared to the previous period[11]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 19,083,116,728.77, representing a 23.17% increase compared to CNY 15,493,464,941.34 in the same period last year[11]. - The net profit attributable to shareholders of the listed company decreased by 26.57% to CNY 1,801,667,011.28 from CNY 2,453,671,220.63 in the previous year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,885,439,499.32, a slight increase of 1.97% from CNY 1,849,058,236.96[11]. - The basic earnings per share decreased by 26.56% to CNY 1.41 from CNY 1.92 in the same period last year[11]. - The net cash flow from operating activities increased by 40.43% to CNY 3,215,495,972.53 compared to CNY 2,289,703,631.42 in the previous year[11]. - The total assets at the end of the reporting period were CNY 49,600,280,369.70, a decrease of 10.18% from CNY 55,219,448,243.00 at the end of the previous year[11]. - The net assets attributable to shareholders of the listed company were CNY 37,035,266,981.55, down 2.67% from CNY 38,052,550,013.05 at the end of the previous year[11]. - The company achieved operating revenue of 19.083 billion yuan and a net profit attributable to shareholders of 1.802 billion yuan during the reporting period[18]. - The net cash flow from operating activities was 3.215 billion yuan, indicating strong cash generation capabilities[18]. Market Position and Strategy - The company maintains a leading market share in the toothpaste segment, with its products holding the top position in the industry[18]. - The company has achieved 100% market coverage in provincial tertiary hospitals and major retail pharmacy chains, with over 90% coverage in secondary hospitals[19]. - The company is focused on integrating health solutions across prevention, healthcare, diagnosis, treatment, and rehabilitation, aiming to build a comprehensive health ecosystem[18]. - The company plans to enhance its R&D capabilities by integrating internal and external technological resources and increasing investment in research and development[19]. - The company has successfully launched new products, including oral liquid formulations and dynamic interference therapy devices, to meet evolving consumer needs[19]. - The company implements a "customer-oriented" production model, ensuring production processes are standardized and quality-controlled[20]. - The company adopts a "payment before delivery" principle in its sales model, strengthening its control over key distribution channels[21]. Research and Development - Research and development expenses rose by 26.11% to ¥105,831,874.90 from ¥83,918,854.15, indicating a focus on innovation and product development[40]. - The company is focusing on technological innovation and organizational transformation as key drivers for future growth, integrating internal and external resources for R&D[22]. - Yunnan Baiyao's strategic cooperation with Jianzhijia aims to create a high-quality supply chain for the "Sanqi" product line, with significant sales growth expected[25]. - The company is expanding its retail presence by leveraging the trend of prescription drugs moving to retail markets, enhancing network coverage in non-medical institutions[25]. Financial Investments and Acquisitions - Yunnan Baiyao plans to invest up to 11.229 billion CNY in Shanghai Pharmaceuticals, acquiring 18.02% of its shares, becoming its second-largest shareholder[26]. - The company aims to establish a "Cloud-Tian-Shang" alliance with Shanghai Pharmaceuticals and Tianjin Pharmaceuticals to enhance collaboration in the traditional Chinese medicine sector[26]. - The company initiated a non-public offering of 665,626,796 shares to Shanghai Pharmaceuticals, marking a significant strategic investment[39]. - The company signed a memorandum with Wanlong Holdings to establish a joint venture focused on the industrial hemp industry, with Wanlong contributing at least 51% in cash[104]. Corporate Governance and Compliance - The company has established control over structured entities, indicating a strategic approach to asset management and investment[59]. - The company has maintained a AAA credit rating for its bonds, indicating stable financial health[110]. - The board has proposed adjustments to the employee stock ownership plan and stock option incentive plan[111]. - The company has ensured that all legal documents submitted regarding the major asset purchase are accurate and complete[108]. Social Responsibility and Community Engagement - Yunnan Baiyao has actively participated in poverty alleviation efforts, providing training for rural doctors and donating medicines to improve healthcare in impoverished areas like Fugong County[81]. - The company received recognition for its contributions to poverty alleviation, with a team member awarded as an "Advanced Individual in Poverty Alleviation" in Yunnan Province[81]. - Yunnan Baiyao has been involved in educational support, providing school supplies to children in local villages during events like Children's Day[81]. - The company has committed to long-term social responsibility initiatives, ensuring that each public welfare project is carefully planned and sustained over time[81]. Environmental Compliance - The company and its subsidiaries are classified as key pollutant discharge units by environmental protection authorities[74]. - The total discharge of COD was 3.5 tons in the first half of 2021, and ammonia nitrogen was 0.137 tons[75]. - The company has implemented pollution prevention facilities and has completed environmental impact assessments for construction projects[76]. - In the first half of 2021, the company conducted third-party environmental testing, and all pollutant emissions complied with standards without exceeding limits[76]. Financial Health and Stability - The company's debt-to-asset ratio decreased to 24.90% from 30.56%, a reduction of 5.66% compared to the end of the previous year[147]. - The net profit after deducting non-recurring gains and losses for the reporting period was 188,543.95 thousand yuan, an increase of 1.97% compared to the same period last year[147]. - The company has reported a significant increase in employee compensation payments, which rose to ¥686,542,049.62 in the first half of 2021 from ¥395,965,720.12 in the same period of 2020, reflecting an increase of approximately 73%[165]. - The company has no significant changes in the scope of consolidation for the current financial year, as detailed in the notes[182].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 10,327,715,582.47, representing a 33.38% increase compared to CNY 7,743,346,885.10 in the same period last year[3]. - Net profit attributable to shareholders was CNY 763,157,801.48, a decrease of 40.48% from CNY 1,282,090,210.08 year-on-year[3]. - The net profit excluding non-recurring gains and losses was CNY 1,365,307,573.86, which is a 29.42% increase from CNY 1,054,950,137.98 in the previous year[3]. - Basic earnings per share decreased by 40.40% to CNY 0.60 from CNY 1.00 in the previous year[3]. - Operating profit decreased to CNY 881,246,060.30, down 41.8% from CNY 1,513,329,925.09 year-over-year[41]. - Net profit for the quarter was CNY 761,866,576.33, a decline of 40.5% compared to CNY 1,283,367,248.91 in the previous year[41]. - The company recorded a total comprehensive income of CNY 952,659,319.83, compared to CNY 1,274,972,049.96 in the same quarter last year[41]. Cash Flow - The net cash flow from operating activities was negative CNY 128,050,971.43, a decline of 125.96% compared to CNY 493,230,793.57 in the same period last year[3]. - The cash inflow from operating activities for the current period is CNY 8,649,635,096.06, an increase of 2.65% compared to CNY 8,426,640,166.38 in the previous period[44]. - The cash outflow from operating activities for the current period is CNY 8,777,686,067.49, up 10.67% from CNY 7,933,409,372.81 in the previous period[45]. - The cash inflow from investment activities is CNY 1,009,365,742.22, significantly higher than CNY 114,901,051.59 in the previous period[45]. - The net cash flow from investment activities is CNY 603,737,239.24, a recovery from a negative CNY 824,271,640.86 in the previous period[45]. - The cash outflow from financing activities is CNY 1,059,091,292.61, compared to CNY 7,805,529.63 in the previous period[46]. - The net cash flow from financing activities is CNY -1,029,091,292.61, a decline from CNY 1,144,667,164.09 in the previous period[46]. - The company reported a net decrease in cash and cash equivalents of CNY -553,434,963.73, compared to an increase of CNY 813,626,316.80 in the previous period[46]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 53,797,491,344.84, down 2.58% from CNY 55,219,448,243.00 at the end of the previous year[3]. - The total liabilities decreased to CNY 14,500,781,715.52 from CNY 16,875,427,831.52, indicating a reduction of about 14.1%[35]. - The total assets amounted to CNY 40,706,617,404.55, down from CNY 41,449,216,095.58, reflecting a decrease of approximately 1.8%[37]. - The company's cash and cash equivalents stood at CNY 14.93 billion, down from CNY 15.28 billion[32]. - The total current assets decreased to CNY 47.90 billion from CNY 49.26 billion[32]. - The company's retained earnings increased to CNY 19,604,386,618.87 from CNY 18,841,228,817.39, reflecting a growth of approximately 4.1%[35]. Investments - The company reported a total investment in Xiaomi Group shares of CNY 1,631,800,843.40, with a fair value loss of CNY 692,579,642.46 during the reporting period[23]. - The company holds shares in Yili Group with an initial investment of CNY 887,169,907.97, resulting in a fair value loss of CNY 110,750,910.62[23]. - The company has invested CNY 841,277,477.20 in fixed-income funds, with a fair value gain of CNY 9,092,888.30 during the reporting period[23]. - The company reported a fair value loss of CNY 10,594,607.89 on its investment in Bosera Macro Fund, with an initial investment of CNY 615,532,418.56[23]. Shareholder and Equity Information - The net assets attributable to shareholders increased by 2.51% to CNY 39,006,530,456.04 from CNY 38,052,550,013.05 at the end of the previous year[3]. - The top shareholder, Yunnan State-owned Assets Management Co., Ltd., holds 25.14% of the shares, while Xinhua Dou Industrial Group Co., Ltd. holds 24.37%[6]. - The company plans to distribute a cash dividend of 39 RMB per 10 shares, totaling approximately 4.92 billion RMB, based on a total share capital of 1,260,703,320 shares after accounting for repurchased shares[17]. - The employee stock ownership plan will involve a maximum of 16,699,997 shares, representing 1.31% of the company's total share capital, with a purchase price set at 70.19 RMB per share[18]. - The company has proposed to authorize the board to handle matters related to the 2021 employee stock ownership plan[22]. Operational Changes and Future Plans - The company has established a new organizational structure comprising four platforms: industrial platform, functional support platform, shared service platform, and innovation incubation platform[19]. - The company plans to transfer its equity in Yunnan Yun Pharmaceutical Co., Ltd. to its wholly-owned subsidiary Yunnan Baiyao Group (Hainan) Co., Ltd. at a book value of approximately ¥417.64 million[15]. - The company intends to establish a wholly-owned subsidiary in Hong Kong with an investment of HKD 10,000 to enhance its international operations[15]. - The company is actively involved in the investment of the Yinglian Fund, indicating a focus on strategic financial partnerships[21]. - The company is in the process of planning a new employee stock ownership plan for 2021[22].