Financial Performance - The company's operating revenue for 2020 was ¥1,111,802,396.45, a decrease of 43.77% compared to ¥1,977,206,434.29 in 2019[11]. - The net profit attributable to shareholders was -¥359,496,105.33, an improvement of 82.39% from -¥2,041,890,393.46 in the previous year[11]. - The basic earnings per share for 2020 was -¥0.37, improving by 82.46% from -¥2.11 in 2019[11]. - The weighted average return on equity was -14.62%, an improvement from -57.92% in the previous year[11]. - The company reported a significant decrease in net profit for the last three accounting years, indicating ongoing challenges in maintaining operational viability[11]. - The company reported a revenue of ¥1,111,802,396.45, a decrease of 43.77% compared to the previous year, and a net profit attributable to shareholders of -¥359,496,105.33, which represents a reduction in losses of ¥1,682,394,288.13[23]. - The company reported a net profit of -359,496,105.33 CNY for 2020, with a profit margin of 0.00%[73]. - The company's net profit for 2020 was -360,659,985.13 CNY, compared to -2,042,936,120.94 CNY in 2019, showing a significant reduction in losses[190]. Cash Flow and Investments - The net cash flow from operating activities was ¥80,705,132.34, representing a 7.81% increase from ¥74,861,078.98 in 2019[11]. - The net cash flow from investment activities improved by 35.57% compared to the previous year, despite a significant decrease in cash inflow from investment activities by 81.04%[38]. - The net cash flow from financing activities was CNY 579,999,865.38, a decrease from CNY 703,289,724.02 in the previous year[197]. - The total cash inflow from investment activities was CNY 95,036,551.66, significantly lower than CNY 501,314,254.39 in the previous year[197]. - The company reported a total cash and cash equivalents increase of CNY 136,042,744.72, contrasting with a decrease of CNY 36,149,528.44 in the previous year[197]. Assets and Liabilities - The total assets at the end of 2020 were ¥4,977,076,111.43, an increase of 5.94% from ¥4,698,048,449.36 at the end of 2019[11]. - The total liabilities increased to CNY 2,671,751,837.82 in 2020, up from CNY 2,032,064,190.62 in 2019, indicating a rise of approximately 31.5%[183]. - Long-term borrowings increased significantly by 15.52% to ¥1,813,955,268.27 in 2020 from ¥983,211,736.24 in 2019[41]. - The company's total assets reached CNY 6,037,807,723.98 in 2020, compared to CNY 5,434,022,590.83 in 2019, marking a growth of 11.1%[189]. - The equity attributable to shareholders decreased to CNY 4,180,578,339.73 in 2020 from CNY 4,280,307,833.30 in 2019, a decline of 2.3%[187]. Research and Development - The company has a total of 42 invention patents, 64 utility model patents, and 2 design patents, with 2 invention patents currently under review[22]. - The company is advancing the Phase III clinical trial of its new drug, Succinyl-8-hydrogen-aminocarbamate tablets, with 600 cases enrolled to date[24]. - R&D investment decreased by 34.04% to ¥57,916,518.70 in 2020 from ¥87,805,670.72 in 2019, while the proportion of R&D investment to operating income increased to 5.21% from 4.44%[37]. - The company aims to enhance its R&D capabilities by integrating chemical, biological, and innovative drug development systems[22]. Market and Industry Challenges - The company faces risks including industry policy changes, rising production costs, and impacts from the COVID-19 pandemic[2]. - The pharmaceutical industry is undergoing significant reforms, with policies such as "volume-based procurement" and improvements in medical insurance payment methods shaping the market landscape[19]. - The company faced challenges in sales volume due to policy adjustments and the impact of the COVID-19 pandemic, leading to a decline in revenue and net profit[18]. Corporate Governance and Compliance - The company has established a comprehensive internal control system to protect the rights of shareholders and creditors[110]. - The independent directors attended 100% of the board meetings and provided constructive opinions on major matters such as profit distribution and related transactions[161]. - The company maintains independence from its controlling shareholder in terms of business, personnel, assets, organization, and finance, ensuring a complete and independent operational system[155]. - The company has established measures to ensure compliance with securities laws and industry policies regarding competition[77]. Social Responsibility and Environmental Compliance - The company donated a total of 224 boxes of "Transfer Factor Oral Liquid" to key epidemic prevention institutions during the COVID-19 pandemic, supporting public health efforts[111]. - The company invested 8.2 million yuan to build a new wastewater treatment plant with a capacity of 1000 tons per year, which has been operational since 2018[115]. - The company has implemented an environmental monitoring system to ensure compliance with pollution discharge standards[121]. - The company has not experienced any major safety incidents or environmental violations during the reporting period[111]. Shareholder Information - The total number of shareholders at the end of the reporting period was 52,089[125]. - Beijing Jinshang pledged to strictly adhere to regulations and not exploit its major shareholder status to harm the company or other shareholders' rights[75]. - The company has not reported any changes in its controlling shareholder during the reporting period[130]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[127].

通化金马药业集团股份有限公司 2020 年第三季度报告全文 通化金马药业集团股份有限公司 2020 年第三季度报告 2020 年 10 月 1 通化金马药业集团股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人张玉富、主管会计工作负责人于军及会计机构负责人(会计主管 人员)耿兰声明：保证季度报告中财务报表的真实、准确、完整。 2 通化金马药业集团股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |-----------------------------------------------------|-----------------------------------|-------------------------|----------- ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥448,598,085.55, a decrease of 51.07% compared to ¥916,746,044.69 in the same period last year[11]. - The net profit attributable to shareholders of the listed company was -¥73,443,877.55, representing a decline of 162.10% from ¥118,262,852.88 in the previous year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥95,452,067.31, a decrease of 197.75% compared to ¥97,649,765.97 in the same period last year[11]. - The net cash flow from operating activities was ¥5,018,356.57, down 87.52% from ¥40,201,133.91 in the previous year[11]. - The company reported a revenue of ¥448,598,085.55, a decrease of 51.07% compared to the same period last year[25]. - The net profit attributable to shareholders was -¥73,443,877.55, representing a decline of 162.10% year-on-year[25]. - The company reported a net profit of -73,928,295.21 CNY, a significant decrease compared to a net profit of 117,775,985.47 CNY in the same period of 2019, representing a decline of approximately 162.8%[106]. - The total profit for the first half of 2020 was -73,547,424.84 CNY, compared to a profit of 145,857,582.68 CNY in the same period of 2019, reflecting a decline of approximately 150.4%[106]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,397,154,628.89, an increase of 14.88% from ¥4,698,048,449.36 at the end of the previous year[11]. - The company's total liabilities rose to CNY 2,805,098,665.36 from CNY 2,032,064,190.62, marking an increase of approximately 38.00%[99]. - Long-term borrowings increased significantly to CNY 1,954,063,080.93 from CNY 983,211,736.24, representing a growth of about 98.60%[99]. - The company's inventory at the end of the reporting period was ¥448,911,113.26, accounting for 8.32% of total assets, a slight decrease from the previous year[30]. - The company's total assets increased significantly due to the acquisition of hospital stakes, with other equity investments rising by 158.78% to ¥1,924,241,839.87[26]. Dividends and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[3]. - The total number of shares increased to 966,494,707, with limited shares accounting for 26.85% and unrestricted shares for 73.15%[78]. - The company reported a total of 190,000,000 shares held by major shareholder Yu Lanjun, representing a significant portion of the total shares[85]. - The top ten unrestricted ordinary shareholders collectively hold 290,000,000 shares, indicating strong institutional support[86]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[88]. Research and Development - The company is conducting Phase III clinical trials for its new drug, with over 460 cases enrolled to date[23]. - Research and development expenses increased by 3.49% to ¥23,186,795.80 compared to the previous year[26]. - The company is actively pursuing new product development and regulatory approval to mitigate R&D risks associated with the pharmaceutical industry[41]. - The company has a total of 13 subsidiaries included in the consolidated financial statements, indicating a diverse operational structure[130]. Market and Industry Context - The company operates in the pharmaceutical manufacturing industry, focusing on research, production, and sales of various medical products, including oncology, cardiovascular, and gastrointestinal drugs[17]. - The company reported a decline in revenue and net profit due to the impact of the COVID-19 pandemic and changes in drug management policies, despite efforts to enhance sales capabilities and internal management efficiency[17]. - The company faces risks including industry policy changes, rising production costs, R&D risks, and impacts from the COVID-19 pandemic[3]. Environmental and Social Responsibility - The company processed a total of 64,441 tons of wastewater in the first half of 2020, achieving a COD average effluent concentration of 20 mg/L[70]. - The company achieved a reduction of 128 tons in COD emissions and 0.118 tons in ammonia nitrogen emissions during the reporting period[70]. - The company invested CNY 8.2 million in a new wastewater treatment plant with a capacity of 1,000 tons per year, which has been operational since 2018[68]. - The company has effectively managed solid waste, ensuring all waste is treated and disposed of in compliance with regulations[72]. Financial Management and Strategy - The company is focusing on lean management and cost reduction to improve productivity and strengthen financial management amid regulatory changes and increased market competition[21]. - The company aims to build a comprehensive healthcare and pharmaceutical manufacturing framework to address industry challenges and promote sustainable growth[21]. - The company has maintained stable profitability and normal operations, with no significant doubts regarding its ability to continue as a going concern[132]. Future Outlook - The company has set a future performance guidance aiming for a revenue growth of 10% in the next half-year, driven by market expansion efforts[124]. - The report does not provide specific future guidance or performance outlook for the upcoming periods[118].

证券代码：000766 证券简称：通化金马 公告编号：2020-57 通化金马药业集团股份有限公司 关于参加 2020 年吉林辖区上市公司投资者网上集体接待日活动的 公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，通化金马药业集团股份有限公司（以下简 称"公司"）将参加由吉林证监局、吉林省证券业协会、深圳市全景网络有限公司共 同举办的"提高公司质量 做受尊敬的上市公司--2020 年吉林辖区上市公司投资者网 上集体接待日"活动，现将有关事项公告如下： 本次集体接待日活动将通过深圳市全景网络有限公司提供的互联网平台举行， 投资者可以登陆"全景·路演天下"网站（http://rs.p5w.net）参与公司本次投资 者集体接待日活动,时间为 2020 年 8 月 21 日（周五）15:30 至 17:00。 届时公司总经理、董事会秘书、财务总监等将通过网络在线问答互动的形式， 与投资者就公司治理、发展经营情况、融资情况和可持续发展等投资者关注的问题 进行交流。期间，公司高管将全程在线，实时回答投资者的提问。 欢迎广大投资者积极参 ...

Financial Performance - The company's operating revenue for 2019 was CNY 1,977,206,434.29, a decrease of 5.60% compared to CNY 2,094,549,374.90 in 2018[23] - The net profit attributable to shareholders of the listed company was a loss of CNY 2,041,890,393.46, representing a decline of 717.15% from a profit of CNY 330,858,116.24 in 2018[23] - The net cash flow from operating activities was CNY 74,861,078.98, down 56.15% from CNY 170,722,975.82 in the previous year[23] - The total assets at the end of 2019 were CNY 4,698,048,449.36, a decrease of 21.66% from CNY 5,997,069,913.93 at the end of 2018[23] - The net assets attributable to shareholders of the listed company decreased by 44.16% to CNY 2,630,930,917.49 from CNY 4,711,657,322.38 in 2018[23] - The basic earnings per share for 2019 was -CNY 2.11, a decline of 720.59% compared to CNY 0.34 in 2018[23] - The weighted average return on net assets was -57.92%, down 65.20% from 7.28% in the previous year[23] - The company reported a significant increase in losses due to various operational challenges and market conditions[23] Revenue Breakdown - The revenue from traditional Chinese medicine increased by 7.06% to CNY 762,453,572.11, accounting for 38.56% of total revenue[49] - The revenue from chemical drugs decreased by 11.26% to CNY 1,205,353,998.12, representing 60.96% of total revenue[49] - The Northeast region saw a significant revenue decline of 41.95%, with revenue dropping to CNY 197,481,411.07[49] - The company reported a total sales volume of 59,692,828 boxes in the pharmaceutical sector, an increase of 3.18% from the previous year[53] Operational Strategies - Future outlook includes a focus on new product development and market expansion strategies[6] - The company plans to enhance its internal management and control systems to improve operational efficiency and risk management[36] - The company is focusing on expanding its market presence through various sales channels, including direct sales to hospitals and e-commerce platforms[36] - The company has adjusted its marketing strategy to mitigate the impact of policy changes, enhancing internal management and optimizing its sales team[44] - The company will enhance internal management and information sharing to improve operational efficiency and reduce management costs[115] Research and Development - Research and development (R&D) investment reached ¥87,805,670.72 in 2019, an increase of 18.15% compared to 2018[69] - The company reported a significant increase in capitalized R&D expenses by 197.84%, attributed to the increased enrollment in the clinical trial for a new drug[69] - The number of R&D personnel increased by 6.15% to 328, representing 15.50% of the total workforce[69] - The company is conducting a Phase III clinical trial for its new drug, with nearly 400 cases enrolled[44] - The company plans to accelerate the Phase III clinical trial of its new drug for Alzheimer's disease, aiming to complete all case enrollments by the end of 2020[115] Acquisitions and Investments - The company plans to acquire 85% stakes in Jixi Jikuang Hospital and Shuangyashan Shuangkuang Hospital for a total preliminary consideration of ¥1,530,000,000, aiming to expand its presence in the healthcare industry[44] - The company has invested a total of RMB 128 million in the payment transaction price, achieving a 100% investment progress[99] - The company has invested RMB 20 million in the Saintai Biological Phase III construction project, with a progress rate of 96.21%[99] - The company has established partnerships for industrial hemp projects, focusing on breeding, planting, extraction, and deep processing, to enhance its product offerings and market position[44] Financial Management - The total liabilities increased significantly, with long-term borrowings rising to ¥983,211,736.24, a change of 18.07% from the previous year[78] - The net cash flow from financing activities increased by 527.55% to ¥703,289,724.02, driven by higher loan amounts compared to the previous year[73] - The company has a total of ¥6,708.28 million in unused fundraising, with part of the idle funds temporarily used to supplement working capital[91] - The company has not engaged in any securities or derivative investments during the reporting period[86][87] Shareholder Commitments - The company has received commitments from its major shareholders to avoid any business that competes directly or indirectly with its operations[135] - The company has confirmed that there is no existing competition between its operations and those of its major shareholders' other businesses[135] - The company will ensure that any related party transactions do not harm the legal rights of other shareholders[132] - The company confirmed its commitment to protect the rights of all shareholders, especially minority shareholders, during the equity transfer process[138] Compliance and Governance - The company has maintained a good integrity status, with no significant debts or court judgments unfulfilled during the reporting period[171] - The company has not faced any situations that could lead to suspension or termination of listing after the annual report disclosure[168] - The company has not experienced any major accounting errors requiring retrospective restatement during the reporting period[162] - The company appointed Zhongzhun Accounting Firm as its internal control audit institution for the year, with an audit fee of 650,000 CNY[167]

Financial Performance - The company's operating revenue for Q1 2020 was ¥151,452,899.87, a decrease of 63.01% compared to ¥409,397,546.32 in the same period last year[3] - The net profit attributable to shareholders was -¥44,419,586.26, representing a decline of 187.21% from ¥50,931,985.61 in the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥56,565,311.12, a decrease of 239.04% compared to ¥40,683,222.82 last year[3] - Operating revenue decreased by 63.01% due to the impact of the pandemic on sales[9] - The net profit for Q1 2020 was a loss of ¥44,659,282.41, compared to a profit of ¥50,644,468.36 in Q1 2019, indicating a shift in financial performance[26] - The net profit for the first quarter of 2020 was CNY 14,241,505.68, a significant decrease compared to CNY 87,921,660.43 in the same period last year[30] - Basic and diluted earnings per share for Q1 2020 were both -¥0.0460, compared to ¥0.0527 in the previous year[28] - The total comprehensive income for the first quarter was CNY 14,241,505.68, compared to CNY 87,921,660.43 in the previous year[31] Cash Flow - The net cash flow from operating activities improved to ¥26,046,278.34, a 140.84% increase from -¥63,776,462.86 in the same period last year[3] - Net cash flow from operating activities increased by 140.84% due to a reduction in payments for goods and prepayments compared to the same period last year[9] - The net cash flow from investing activities decreased by 841.59% due to the acquisition of a 15% stake in Longmei Hospital[9] - The net cash flow from financing activities increased by 245,547.21% due to an increase in loans compared to the same period last year[9] - The cash outflow from investing activities was CNY 494,586,818.61, compared to CNY 337,440,947.98 in the same period last year[33] - The net cash flow from investing activities was -489,480,070.21 CNY, indicating significant cash outflows related to investments[36] - The net cash flow from financing activities was 182,702,800.25 CNY, primarily driven by cash received from borrowings of 198,750,000.00 CNY[36] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,658,224,363.33, an increase of 20.44% from ¥4,698,048,449.36 at the end of the previous year[3] - The total liabilities reached CNY 3,036,899,387.00, up from CNY 2,032,064,190.62, which is an increase of approximately 49.4%[20] - The company's equity attributable to shareholders decreased to CNY 2,586,511,331.23 from CNY 2,630,930,917.49, a decline of about 1.7%[21] - The total liabilities as of the end of Q1 2020 were ¥2,138,654,372.63, compared to ¥1,153,714,757.53 at the end of the previous year, indicating increased leverage[24] - The total current liabilities amounted to CNY 911,454,123.66, slightly up from CNY 905,034,652.99, indicating a marginal increase of about 0.5%[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 46,599[5] - The largest shareholder, Beijing Jinshang Alliance Investment Management Co., Ltd., held 24.98% of the shares[5] - The company did not engage in any repurchase transactions during the reporting period[6] Investments and Acquisitions - The company plans to acquire 85% stakes in Jixi Jikuang Hospital and Shuangyashan Shuangkuang Hospital for an initial consideration of 153 million yuan[10] - Prepayments surged by 1489.89% due to the acquisition of a 15% stake in Longmei Hospital and prepayments for the acquisition of funds from Heilongjiang Property Exchange[9] - Goodwill increased by 92.23% as a result of the acquisition of Harbin Shengtai Pharmaceutical's stake in Harbin Cezhan Pharmaceutical[9] Research and Development - Research and development expenses rose by 128.63% due to increased investment in R&D projects[9] - Research and development expenses increased to ¥8,425,926.98 in Q1 2020, up from ¥3,685,405.11 in the same period last year, highlighting a focus on innovation[25] Government Support - The company received government subsidies amounting to ¥14,840,456.33 during the reporting period[4] Financial Structure - The company's cash and cash equivalents increased to CNY 638,244,758.35 from CNY 150,219,230.03, reflecting a growth of approximately 325.5%[22] - The company incurred a credit impairment loss of CNY -6,168,475.17 during the quarter[30] - The company has a long-term debt of 983,211,736.24 CNY, indicating a significant leverage position[40]

Financial Performance - The company's operating revenue for 2019 was CNY 1,977,206,434.29, a decrease of 5.60% compared to CNY 2,094,549,374.90 in 2018[23] - The net profit attributable to shareholders of the listed company was a loss of CNY 2,041,890,393.46, representing a decline of 717.15% from a profit of CNY 330,858,116.24 in 2018[23] - The net cash flow from operating activities was CNY 74,861,078.98, down 56.15% from CNY 170,722,975.82 in the previous year[23] - The total assets at the end of 2019 were CNY 4,698,048,449.36, a decrease of 21.66% from CNY 5,997,069,913.93 at the end of 2018[23] - The net assets attributable to shareholders of the listed company decreased by 44.16% to CNY 2,630,930,917.49 from CNY 4,711,657,322.38 in 2018[23] - The basic earnings per share for 2019 was -CNY 2.11, a decline of 720.59% compared to CNY 0.34 in 2018[23] - The weighted average return on net assets was -57.92%, down 65.20% from 7.28% in the previous year[23] Revenue Breakdown - The revenue from traditional Chinese medicine increased by 7.06% to CNY 762,453,572.11, accounting for 38.56% of total revenue[49] - The revenue from chemical drugs decreased by 11.26% to CNY 1,205,353,998.12, representing 60.96% of total revenue[49] - The Northeast region saw a significant revenue decline of 41.95%, with total revenue of CNY 197,481,411.07[49] - The company reported a total of 59,692,828 boxes sold in the pharmaceutical sector, an increase of 3.18% year-on-year[53] Operational Strategies - The company has implemented a "production based on sales" model, which aligns production with market demand, enhancing operational efficiency[36] - The market expansion strategy includes leveraging e-commerce and developing new marketing models to adapt to changing market conditions[36] - The company is focusing on enhancing internal management and control to improve operational efficiency and risk management capabilities[36] - The company has adjusted its marketing strategy to mitigate the impact of policy changes, focusing on optimizing its sales team and enhancing academic promotion efforts[44] Research and Development - The company is advancing its new drug development, with nearly 400 cases enrolled in the Phase III clinical trial for its new chemical drug, Amber Tetrahydroaminoacridine Tablets[44] - R&D investment amounted to ¥87,805,670.72, representing an 18.15% increase compared to the previous year, and accounted for 4.44% of operating revenue[69] - The number of R&D personnel increased by 6.15% to 328, with R&D personnel now making up 15.50% of the total workforce[69] - The company has established a certain scale of R&D bases through acquisitions of four R&D institutions, enhancing its research capabilities in chemical, biological, and innovative drugs[97] Acquisitions and Investments - The company plans to acquire 85% stakes in Jixi Jikuang Hospital and Shuangyashan Shuangkuang Hospital for a preliminary consideration of ¥153,000,000, aiming to expand its presence in the healthcare industry[44] - The company has acquired a clinical-stage Alzheimer's treatment company, further diversifying its product pipeline and enhancing its competitive position in the pharmaceutical market[40] - The company invested CNY 789,076,714.87 to purchase fund shares as part of a health industry investment fund, increasing total contributions to CNY 2.2 billion after introducing new partners[179] Financial Management - The total cash inflow from financing activities surged by 106.59% to ¥1,041,357,702.17, reflecting an increase in loan amounts compared to the previous year[70] - The company has a total of ¥6,708.28 million in unused fundraising, with part of the idle funds temporarily supplementing working capital[91] - The company has established a commitment to avoid competition with its subsidiaries as per the commitments made in the equity change report[129] - The company has committed to fair pricing for related party transactions, ensuring compliance with legal procedures and protecting the rights of other shareholders[132] Governance and Compliance - The company has maintained a good integrity status, with no significant legal disputes or penalties reported during the period[171] - The company has not engaged in any capital reserve transfer to increase share capital during the reporting period[128] - The company has confirmed that there is currently no business competition between its controlled entities and the company itself[135] - The company guarantees the independence of its financial department and the establishment of an independent financial accounting system[141] Challenges and Risks - The company faces risks from industry policy changes that may impact raw material procurement and product sales[115] - The company anticipates price risks due to expanded centralized procurement policies affecting drug prices[118] - The company is addressing potential cost increases in production factors due to stricter national standards and rising raw material costs[118] - The company is committed to ensuring employee safety while resuming operations affected by the COVID-19 pandemic[118]

Financial Performance - Net profit attributable to shareholders was CNY 40,023,714.57, a decrease of 0.90% year-on-year[3] - Operating revenue for the period was CNY 487,369,808.98, down 4.86% compared to the same period last year[3] - Basic earnings per share were CNY 0.0414, a decline of 0.96% year-on-year[3] - The company's total revenue for the current period reached ¥1,404,115,853.67, an increase from ¥1,372,995,559.24 in the previous period, reflecting a growth of approximately 2.3%[34] - Operating profit for the current period was reported at -¥12,694,847.54, compared to -¥4,927,619.95 in the previous period, indicating a decline in profitability[32] - The net profit for the current period was -¥12,568,617.54, worsening from -¥4,595,218.86 in the previous period, highlighting ongoing financial challenges[33] - The net profit for the third quarter of 2019 was CNY 157,532,189.30, a decrease of 11.93% compared to CNY 178,912,726.99 in the same period last year[35] - The total operating income for the period was CNY 282,968,285.78, down from CNY 337,991,480.22, representing a decline of 16.26% year-over-year[37] Assets and Liabilities - Total assets reached CNY 6,376,331,543.81, an increase of 6.32% compared to the previous year[3] - Total liabilities amounted to CNY 1,471,042,963.40, an increase from CNY 1,249,313,522.82, indicating a rise of approximately 17.7%[22] - The company's equity attributable to shareholders increased to CNY 4,869,943,889.83 from CNY 4,711,657,322.38, showing a growth of about 3.36%[23] - Total assets increased to CNY 6,376,331,543.81 from CNY 5,997,069,913.93, representing a growth of about 6.31%[21] - Total liabilities reached CNY 413.21 million, with current liabilities totaling CNY 222.30 million[52] - The total liabilities to equity ratio is approximately 0.26, suggesting a conservative leverage position[48] Cash Flow - The net cash flow from operating activities decreased by 75.07% to CNY 64,226,898.16 year-to-date[3] - Cash flow from investment activities showed a net outflow of ¥479,386,777.69, compared to a smaller outflow of ¥161,942,129.25 in the previous year[42] - Cash inflow from financing activities was ¥546,357,702.17, while cash outflow totaled ¥260,180,605.41, leading to a net cash inflow of ¥286,177,096.76[42] - The cash flow from financing activities showed a net inflow of ¥24,676,028.78, contrasting with a net outflow of ¥52,967,167.31 in the same period last year[44] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 46,624[6] - The largest shareholder, Beijing Jinshang Alliance Investment Management Co., held 24.98% of shares[6] - The actual controller of the company changed, with Zhang Yufu controlling 29.88% of the company's shares after the transfer of equity[12] Government Support and Subsidies - The company received government subsidies amounting to CNY 32,002,699.45 during the reporting period[4] - Other income increased by 198.62% year-to-date due to an increase in government subsidies received compared to the previous year[9] Investment and Acquisitions - The company plans to acquire 84.14% equity stakes in multiple hospitals for a total transaction amount of approximately 2.19 billion yuan[10] - The company intends to raise no more than 690.495 million yuan through a private placement to support the acquisition[11] Research and Development - Research and development expenses for Q3 2019 were CNY 28,321,474.50, an increase of 23.5% compared to CNY 22,982,682.50 in Q3 2018[28] - Research and development expenses increased significantly to CNY 18,944,835.79 from CNY 2,422,261.24, marking a rise of 684.56%[38] Other Financial Metrics - The weighted average return on equity was 0.83%, an increase of 0.50% compared to the previous year[3] - The company reported a decrease in sales expenses to CNY 295,339,234.19, down from CNY 340,308,234.99, a reduction of 13.2%[28] - The company reported an increase in other income to ¥28,139,699.45 from ¥9,423,198.51, indicating potential diversification in revenue streams[34]

Financial Performance - The company's operating revenue for the reporting period was ¥916,746,044.69, representing a 6.51% increase compared to ¥860,709,536.28 in the same period last year[10]. - The net profit attributable to shareholders was ¥118,262,852.88, a decrease of 14.95% from ¥139,053,597.83 in the previous year[10]. - The net profit after deducting non-recurring gains and losses was ¥97,649,765.97, down 22.77% from ¥126,443,812.81 year-on-year[10]. - The net cash flow from operating activities was ¥40,201,133.91, a significant decline of 68.71% compared to ¥128,461,992.48 in the previous year[10]. - The total assets at the end of the reporting period were ¥6,069,414,303.02, an increase of 1.21% from ¥5,997,069,913.93 at the end of the previous year[10]. - The net assets attributable to shareholders increased by 2.51% to ¥4,829,920,175.26 from ¥4,711,657,322.38 at the end of the previous year[10]. - The basic earnings per share were ¥0.12, down 14.29% from ¥0.14 in the same period last year[10]. - The company reported a significant increase in other income by 186.05% to ¥22,338,728.92, attributed to government subsidies[26]. - The company reported a total comprehensive income of CNY 117,775,985.47, down from CNY 138,674,874.94, a decline of 15.05%[92]. - The company reported a net profit of CNY 112,347,987.27, compared to a loss of CNY 5,914,865.61 in the previous period[85]. Research and Development - Research and development investment increased by 47.61% to ¥22,405,528.79, reflecting a commitment to innovation[26]. - The company is advancing the Phase III clinical trial of its new drug, with over 240 cases enrolled[28]. - Research and development expenses were CNY 14,308,120.22, slightly up from CNY 14,077,171.84, indicating a focus on innovation[90]. - Internal research and development expenditures are categorized into research and development phases, with specific criteria for capitalization during the development phase[174]. Business Strategy and Operations - The company operates in the pharmaceutical manufacturing industry, focusing on research, production, and sales of various medical products, including oncology and microbiology[17]. - The company employs a "production based on sales" model, adhering to national GMP standards, with production plans adjusted monthly based on sales forecasts and inventory[17]. - The company has adopted an "industry integration + investment acquisition" strategy, enhancing its competitive product structure through multiple acquisitions, including a clinical-stage Alzheimer's treatment company[21]. - The company plans to expand its business scope to include "import and export trade" as of June 4, 2019[9]. - The marketing strategy includes six major divisions, focusing on precise recruitment and collaboration with clients to enhance sales capabilities[17]. Financial Position and Assets - Cash and cash equivalents decreased to RMB 217,320,292.38, down 2.19% from RMB 341,106,818.43 in the previous year[30]. - Accounts receivable increased to RMB 674,697,769.14, up 1.33% from RMB 579,228,755.64 in the previous year[30]. - Inventory rose to RMB 462,859,447.41, reflecting a 0.17% increase from RMB 441,256,699.82[30]. - Total liabilities decreased to CNY 1,203,881,926.44 from CNY 1,249,313,522.82, a reduction of about 3.6%[85]. - The company's equity attributable to shareholders rose to CNY 4,829,920,175.26 from CNY 4,711,657,322.38, an increase of approximately 2.5%[85]. Risks and Challenges - The company faces industry policy risks due to ongoing national medical reform, which may lead to fluctuations in drug prices and impact sustainable growth[40]. - Rising costs in sales, raw materials, human resources, and environmental protection are putting continuous pressure on the company's profitability[40]. - There is a risk of product development not meeting expectations due to high technical difficulty, significant investment, and long approval cycles in the pharmaceutical industry[40]. - The company has significant goodwill from acquisitions, which poses a risk of impairment if the acquired companies do not achieve stable growth[40]. Environmental and Social Responsibility - The company processed a total of 73,587 tons of wastewater in the first half of 2019, achieving a compliance rate of 100% for water quality standards[62]. - The average COD concentration in the wastewater was 20.89 mg/L, with a reduction of 161 tons in COD emissions during the same period[62]. - The company has been actively monitoring its emissions and has not reported any significant environmental violations in the first half of 2019[62]. - The company plans to continue its efforts in poverty alleviation in accordance with local initiatives, although no specific projects have been initiated yet[64]. Shareholder and Equity Information - The largest shareholder, Beijing Jinshang Alliance Investment Management Co., Ltd., holds 44.64% of the shares, totaling 431,464,944 shares[72]. - The total number of shareholders with more than 5% ownership is 10, with a total of 53,137 shareholders[72]. - The company reported a significant reduction in restricted shares due to the lifting of restrictions on major asset restructuring[70]. - The company did not distribute cash dividends or bonus shares for the half-year period[41]. Compliance and Governance - The half-year financial report has not been audited[43]. - The company maintains a good integrity status, with no significant debts or court judgments unmet during the reporting period[43]. - The company has not experienced any major litigation or arbitration matters during the reporting period[43]. - The company’s financial statements are prepared based on the going concern principle and comply with the relevant accounting standards[116].

Financial Performance - The company's operating revenue for 2018 was CNY 2,094,549,374.90, representing a 37.67% increase compared to CNY 1,521,410,294.36 in 2017[10]. - The net profit attributable to shareholders for 2018 was CNY 330,858,116.24, up 28.30% from CNY 257,879,255.54 in 2017[10]. - The net cash flow from operating activities increased significantly by 545.84% to CNY 170,722,975.82 from CNY 26,434,194.72 in 2017[10]. - The basic earnings per share for 2018 was CNY 0.34, a 25.93% increase from CNY 0.27 in 2017[10]. - Total assets at the end of 2018 reached CNY 5,997,069,913.93, a 4.72% increase from CNY 5,726,837,493.11 at the end of 2017[10]. - The net assets attributable to shareholders increased by 7.55% to CNY 4,711,657,322.38 from CNY 4,380,799,206.14 in 2017[11]. - The company reported a decrease of 16.63% in net profit after deducting non-recurring gains and losses, totaling CNY 204,684,082.46 in 2018[10]. - The weighted average return on equity for 2018 was 7.28%, up from 6.07% in 2017[10]. - The company achieved a revenue of ¥2,094,549,374.90 in 2018, representing a 37.67% increase year-over-year[22]. - The net profit attributable to shareholders was ¥330,858,116.24, marking a 28.30% increase compared to the previous year[22]. Operational Strategy - The company operates in the pharmaceutical manufacturing industry, focusing on research, production, and sales of various medical products, including oncology and gastrointestinal medications[18]. - The company has adopted a "production based on sales" model, aligning production plans with sales forecasts and inventory levels[18]. - The marketing strategy has shifted towards precision marketing and academic promotion, enhancing the sales network and capabilities[18]. - The company has implemented a dual-driven strategy focusing on mergers and acquisitions while enhancing internal management and market coverage[22]. - The company has strengthened its marketing strategy by transitioning from traditional marketing to academic and precision marketing approaches[22]. Research and Development - The company has a total of 41 invention patents and 25 utility model patents, with 3 invention patents and 3 utility model patents currently under review[21]. - The company is advancing the clinical trial of its new drug, Succinylated Tetrahydroaminoacridine, with over 150 cases enrolled in the study[22]. - R&D expenses rose by 23.06% to ¥74,317,857.37, with R&D personnel increasing by 9.19% to 309[37]. - The company aims to enhance its R&D and innovation capabilities, focusing on a dual strategy of "internal growth + external expansion" to drive development[58]. Market and Industry Trends - The pharmaceutical industry is expected to maintain robust growth due to economic development, improved healthcare systems, and increasing health awareness among the population[19]. - The company faces industry policy risks due to reforms and price reductions in the pharmaceutical sector, which may impact sales revenue and expenses[62]. - The company is addressing the risk of declining drug prices due to external market conditions and rising production costs[63]. - The pharmaceutical industry in China is undergoing significant changes due to policy reforms, which present both opportunities and challenges for the company[58]. Financial Management and Investments - The company has made investments in equity stakes in Beijing Minkan Baicao Pharmaceutical Technology Co., Ltd. and Shanghai Shijian Biotechnology Co., Ltd. during the reporting period[20]. - The total investment amount for the reporting period was ¥218,469,710.03, representing a 111.29% increase compared to ¥103,395,590.70 in the same period last year[44]. - The company completed a significant equity investment in Jiangxi Fengma Pharmaceutical Co., Ltd. for ¥1,900,000, acquiring 100% ownership[44]. - The company raised a total of ¥1,688,000,000.00 through a private placement, with a net amount of ¥1,664,306,994.14 after deducting issuance costs[49]. Corporate Governance and Compliance - The company has committed to avoiding competition with its subsidiaries and has established measures to reduce and regulate related party transactions[72]. - The company has made commitments to comply with relevant regulations and ensure fair pricing in related party transactions[72]. - The company’s independent directors have fulfilled their responsibilities and ensured the protection of minority shareholders' rights[68]. - The company has established a governance structure that allows for independent exercise of authority by its internal management[74]. Environmental and Social Responsibility - The company actively fulfilled its social responsibilities, focusing on environmental protection and employee rights[117]. - The company received the "Outstanding Helping Enterprise" title from the local poverty alleviation office for its efforts in poverty alleviation[120]. - The company processed a total of 89,129 tons of wastewater in 2018, achieving a 100% compliance rate for water quality standards[126]. - The company invested 8.2 million RMB to build a new wastewater treatment plant with a capacity of 1,000 tons per year, which has been operating stably since August 2018[125]. Shareholder Information - The company did not distribute any cash dividends in 2018, maintaining a cash dividend policy of 0.00% of net profit for the past three years[69]. - The company has a long-term commitment to fulfill its promises regarding related party transactions and competition avoidance[72]. - The total number of shares held by the top ten unrestricted shareholders is 220,000,000, indicating concentrated ownership[137]. - The company plans to release 63,291,139 shares from lock-up on June 13, 2018, and an additional 121,765,601 shares on January 19, 2019[133].