Financial Performance - The company's revenue for Q3 2021 was ¥375,750,367.33, representing an increase of 8.72% compared to the same period last year[4] - The net profit attributable to shareholders for Q3 2021 was ¥45,706,103.61, a decrease of 28.33% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥7,422,725.25, down 87.70% compared to the same period last year[4] - The basic earnings per share for Q3 2021 was ¥0.08, down 33.33% compared to the same period last year[4] - The weighted average return on equity for Q3 2021 was 1.48%, a decrease of 0.68% year-on-year[4] - The company's total revenue for the current period was CNY 1,255,654,767.18, compared to CNY 1,097,870,149.56 in the previous period, indicating a year-over-year increase of about 14.36%[27] - Operating costs for the current period amounted to CNY 961,048,966.73, up from CNY 743,865,240.43 in the previous period, reflecting an increase of approximately 29.25%[27] - The company's total liabilities as of September 30, 2021, were CNY 999,906,452.88, compared to CNY 923,271,325.82 at the end of 2020, representing an increase of approximately 8.30%[23] - Total profit decreased slightly to ¥361,468,249.37 from ¥363,121,833.34, a decline of about 0.5%[30] - Net profit for the period was ¥292,898,189.25, down from ¥305,026,990.06, reflecting a decrease of approximately 4.0%[30] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥4,020,955,566.82, an increase of 3.57% from the end of the previous year[4] - The equity attributable to shareholders at the end of Q3 2021 was ¥3,021,049,113.94, reflecting a growth of 2.10% compared to the end of the previous year[4] - As of September 30, 2021, total assets reached CNY 4,020,955,566.82, an increase from CNY 3,882,273,181.59 as of December 31, 2020, representing a growth of approximately 3.57%[23] - The company's equity attributable to shareholders increased to CNY 3,021,049,113.94 from CNY 2,959,001,855.77, reflecting a growth of about 2.10%[26] - The company's total liabilities as of September 30, 2021, were CNY 999,906,452.88, compared to CNY 923,271,325.82 at the end of 2020, representing an increase of approximately 8.30%[23] - Total liabilities reached CNY 923,271,325.82, with current liabilities accounting for CNY 589,312,189.72[49] Cash Flow - The cash flow from operating activities for the year-to-date was ¥291,495,282.61, a decrease of 40.47% year-on-year[4] - Cash received from operating activities was CNY 181,568,534.70, an increase of 461.03% compared to CNY 32,363,531.97 in the previous year, mainly due to significant government subsidies received[12] - Cash recovered from investments was CNY 343,000,000.00, an increase of 8475.00% compared to CNY 4,000,000.00 in the previous year, primarily from the recovery of financial products and structured deposits[12] - Cash received from the disposal of fixed assets, intangible assets, and other long-term assets was CNY 53,985,800.60, a 23874.58% increase compared to CNY 225,179.31 in the previous year, due to the disposal of held-for-sale assets[12] - Cash paid for the purchase and construction of fixed assets, intangible assets, and other long-term assets was CNY 178,249,864.17, a 33.60% increase compared to CNY 133,419,319.45 in the previous year, reflecting increased investment in production equipment and infrastructure[12] - Cash paid for debt repayment was CNY 176,855,430.10, an increase of 299.66% compared to CNY 44,251,136.17 in the previous year, mainly due to the repayment of long-term liabilities by subsidiaries[12] - Cash paid for dividends, profits, or interest was CNY 243,963,969.45, a 77.18% increase compared to CNY 137,696,062.41 in the previous year, reflecting an increase in dividends distributed by the parent company[12] Research and Development - R&D expenses from the beginning of the year to the end of the reporting period amounted to CNY 169,712,734.98, a 54.70% increase year-on-year, reflecting the company's increased investment in R&D[12] - Research and development expenses rose to CNY 169,712,734.98, compared to CNY 109,705,777.33 in the previous period, marking a significant increase of about 54.73%[27] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the period from July to September was CNY 7,422,725.25, a decrease of 87.70% compared to CNY 60,337,096.25 in the same period last year, mainly due to increased R&D expenses[12] Other Income and Expenses - The company's non-recurring gains and losses totaled ¥38,283,378.36 for the year-to-date, down from ¥47,745,933.89 in the previous year[8] - Other income for the same period was CNY 57,415,540.45, up 277.80% from CNY 15,197,275.36 in the previous year, primarily due to large government subsidies received for compensating previous years' costs[12] - The company reported a decrease in operating expenses to ¥1,159,062,042.16 from ¥1,012,534,000.14, an increase of approximately 14.5%[38] - Other comprehensive income after tax was reported at -¥1,854,021.31, indicating a loss compared to the previous period[34] Audit and Compliance - The company has not conducted an audit for the third quarter report, indicating a potential area for investor scrutiny[52]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 879,904,399.85, representing a 16.97% increase compared to CNY 752,252,423.05 in the same period last year[28]. - The net profit attributable to shareholders of the listed company was CNY 247,192,085.64, a 2.46% increase from CNY 241,251,997.57 year-on-year[28]. - The net profit after deducting non-recurring gains and losses decreased by 8.04%, amounting to CNY 214,719,348.88 compared to CNY 233,493,196.27 in the previous year[28]. - The net cash flow from operating activities was CNY 200,067,292.17, down 57.34% from CNY 468,947,239.85 in the same period last year[28]. - The total assets at the end of the reporting period were CNY 3,905,369,633.69, a 0.59% increase from CNY 3,882,273,181.59 at the end of the previous year[28]. - The net assets attributable to shareholders of the listed company were CNY 2,974,955,731.53, reflecting a 0.54% increase from CNY 2,959,001,855.77 at the end of the previous year[28]. - The basic earnings per share for the reporting period was CNY 0.43, up 2.38% from CNY 0.42 in the same period last year[28]. - The diluted earnings per share also stood at CNY 0.43, indicating a 2.38% increase compared to CNY 0.42 year-on-year[28]. - The weighted average return on equity was 8.02%, slightly down from 8.28% in the previous year[28]. Research and Development - Research and development expenses increased significantly by 62.30% to ¥104,466,118.63, up from ¥64,367,190.51 in the previous year, primarily due to increased investment by the Shanghai subsidiary[59]. - The company is actively involved in the research and development of health products, including traditional Chinese medicine and health supplements, to expand its product offerings[88]. - The management team emphasizes the importance of maintaining communication with clinical experts and implementing a project management mechanism to mitigate R&D risks[101]. - R&D risks are present due to the lengthy and complex process of new drug development, which is subject to stringent regulatory requirements that could affect market acceptance and sales performance[101]. Product Development and Market Position - The company holds 218 drug approvals, including 46 exclusive varieties and 113 varieties listed in the national medical insurance directory[38]. - The company has effective invention patents totaling 64, including 1 US patent and 4 patents awarded for excellence in China[38]. - The company has 23 exclusive products, including Sanjin Pian and Guilin Xigua Frost, which are key in their respective therapeutic areas[38]. - The company focuses on continuous growth in the fields of oral and throat medications, as well as urological medications[38]. - The company aims to be a leading pharmaceutical manufacturing group in China, with a strong foundation for sustainable growth[38]. - The company is positioned in the traditional Chinese medicine sector, with a leading position in oral and throat medications and urological medications[55]. - The company plans to enhance its market presence through strategic acquisitions and partnerships in the health and wellness sector[88]. - The company is focusing on expanding its product lines, including new beverage offerings and health-related products, to capture a larger market share[88]. Financial Position and Cash Flow - The company's cash and cash equivalents increased to ¥1,624,574,125.24, representing 41.60% of total assets, up from 35.08% in the previous year[66]. - The company's long-term borrowings rose to ¥258,000,192.69, accounting for 6.61% of total liabilities, compared to 6.01% in the previous year[69]. - The company reported a net cash outflow from investing activities of ¥39,266,990.56, an improvement of 78.81% compared to a net outflow of ¥185,296,151.68 in the previous year, mainly due to reduced investments and real estate purchases[59]. - The net cash outflow from financing activities surged by 447.58% to ¥226,609,058.72, compared to ¥41,383,683.29 in the previous year, primarily due to increased long-term loan repayments and higher dividends[59]. - The total current assets decreased to ¥2,271,844,589.16 from ¥2,379,897,326.30, reflecting a decline of about 4.5%[194]. - Non-current assets increased to ¥1,633,525,044.53 from ¥1,502,375,855.29, indicating a growth of approximately 8.7%[194]. - The total liabilities slightly increased to ¥930,413,902.16 from ¥923,271,325.82, showing a marginal rise of about 0.2%[196]. Environmental and Social Responsibility - The company has established a wastewater treatment system with a daily processing capacity of 2,500 tons, achieving a COD concentration reduction from 3,000 mg/l to below 500 mg/l[110]. - The company has received no administrative penalties related to environmental issues during the reporting period, demonstrating compliance with environmental regulations[110]. - The company has invested in a 2.4MWP photovoltaic grid-connected power generation project, generating approximately 2.24 million kWh annually[110]. - The company has committed to social responsibility initiatives, including a plan to support local agricultural projects with a budget of 100,000 yuan[116]. - The company has been recognized with several environmental honors, including "Guangxi Green Factory" and "Water-saving Enterprise" certifications[110]. Risks and Challenges - The company faces significant risks from industry policy changes, including the implementation of the new Drug Administration Law and the normalization of drug procurement, which could impact its operations and profitability[98]. - The fluctuation in raw material prices poses a risk due to the seasonal and regional nature of traditional Chinese medicine materials, affecting production costs and profit margins[98]. - Increased market competition is anticipated as the pandemic alters consumer behavior and the national medical insurance directory undergoes adjustments, leading to potential price reductions for drugs[98]. - The company aims to control procurement costs within a reasonable range while ensuring the quality of raw materials[98]. Shareholder Information - The total number of shares outstanding remained at 590,200,000, with no new shares issued during the reporting period[161]. - The largest shareholder, Guilin Sanjin Group Co., Ltd., holds 61.19% of the shares, totaling 361,129,300 shares[170]. - The second-largest shareholder, Zou Jieming, holds 9.05% of the shares, totaling 53,394,648 shares[170]. - The company has 15,865 common shareholders at the end of the reporting period[165].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 429,589,921.89, representing a 30.71% increase compared to CNY 328,651,865.72 in the same period last year[10] - Net profit attributable to shareholders for Q1 2021 was CNY 97,672,179.84, up 27.19% from CNY 76,791,683.43 in the previous year[10] - The net profit after deducting non-recurring gains and losses was CNY 95,252,240.18, reflecting a 34.76% increase from CNY 70,683,852.98 year-on-year[10] - The basic earnings per share for Q1 2021 was CNY 0.17, a 30.77% increase from CNY 0.13 in the same period last year[10] - Total revenue for the reporting period increased by 30.71% to 429,589,921.89 from 328,651,865.72 in the same period last year[21] - The company's net profit for the first quarter of 2021 is expected to show significant changes compared to the same period last year[34] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,997,591,280.48, a 2.97% increase from CNY 3,882,273,181.59 at the end of the previous year[10] - The net assets attributable to shareholders at the end of the reporting period were CNY 3,057,509,238.36, up 3.33% from CNY 2,959,001,855.77 at the end of the previous year[10] - The total liabilities of the company are RMB 940.08 million, compared to RMB 923.27 million previously[49] - The total current assets as of March 31, 2021, amount to RMB 2.38 billion, showing a slight increase from RMB 2.38 billion on the previous date[43] - The total non-current assets were CNY 1,502,375,855.29, unchanged from the previous period[88] Cash Flow - The net cash flow from operating activities for Q1 2021 was CNY 173,928,071.94, an increase of 5.04% compared to CNY 165,577,116.28 in the same period last year[10] - Cash received from operating activities increased by 497.05% to 20,620,055.56, mainly due to government subsidies and increased employee loan recoveries[24] - Cash inflow from investment activities reached CNY 469.57 million, significantly higher than CNY 326.54 million in the prior year, marking a 43.7% increase[80] - Cash outflow from investment activities was CNY 454.17 million, down from CNY 536.23 million, indicating a 15.3% decrease[80] - The ending balance of cash and cash equivalents was CNY 1,076.97 million, up from CNY 699.34 million, showing a 54% increase[82] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,993[14] - The company has utilized a total of RMB 813.76 million from the raised funds, with a net interest income of RMB 38.06 million as of March 31, 2021[33] - As of March 31, 2021, the balance of raised funds is RMB 51.16 million, including accumulated net interest income[33] Expenses and Costs - Operating costs rose by 47.62% to 127,893,037.17, primarily due to increased sales and higher trial production costs in Shanghai[21] - Research and development expenses for Q1 2021 amounted to ¥62,817,958.41, compared to ¥52,076,652.33 in Q1 2020, indicating a growth of 20.54%[62] - The company reported a 150.79% increase in interest expenses to 11,549,263.17, primarily due to higher long-term loan interest[21] Other Financial Metrics - The weighted average return on equity for Q1 2021 was 3.25%, an increase of 0.56% from 2.69% in the previous year[10] - The company reported a decrease in other comprehensive income, with a value of -RMB 307,797.66[52] - The total profit margin for the current period was approximately 38.3%, compared to 31.3% in the previous period, indicating improved profitability[69]

Financial Performance - The company's operating revenue for 2020 was ¥1,566,484,673.44, a decrease of 4.51% compared to ¥1,640,423,731.48 in 2019[24] - The net profit attributable to shareholders for 2020 was ¥277,020,898.87, down 29.36% from ¥392,142,681.13 in 2019[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥252,240,992.83, a decrease of 31.21% compared to ¥366,686,313.63 in 2019[24] - Basic earnings per share for 2020 were ¥0.48, down 28.36% from ¥0.67 in 2019[24] - The weighted average return on net assets was 9.63%, a decrease of 4.47% from 14.10% in 2019[24] - The total revenue for the company in 2020 was 1,566,484,673.44 CNY, a decrease of 4.51% compared to 1,640,423,731.48 CNY in 2019[64] - The company's net profit attributable to shareholders was 27,702.09 CNY, down 29.36% from 39,214.27 CNY in the previous year[64] - The company's sales revenue for 2020 was ¥1,426,854,461.78, a decrease of 3.39% compared to ¥1,476,848,730.85 in 2019[70] - The company's revenue from the pharmaceutical sector was 1,478,763,917.91 CNY, accounting for 94.40% of total revenue, with a decrease of 2.91% year-on-year[66] Cash Flow and Investments - The net cash flow from operating activities increased by 27.70% to ¥597,991,408.36 from ¥468,285,131.84 in 2019[24] - The company’s cash inflow from investment activities increased by 81.55% to ¥2,204,158,059.29 in 2020 from ¥1,214,076,135.35 in 2019[85] - Investment cash outflow increased by 27.78% to ¥2,412,114,628.76 compared to the previous period[88] - Net cash flow from investment activities improved by 69.13%, reaching -¥207,956,569.47[88] - Financing cash inflow rose by 82.48% to ¥318,863,542.98, driven by increased short-term and long-term borrowings[88] - The company established a wholly-owned subsidiary in the British Virgin Islands with an investment of $18 million (approximately ¥118,591,200.00) to expand overseas markets[74] Research and Development - Research and development expenses increased by 48.19% to 15,428.20 CNY from 10,411.20 CNY in 2019[64] - The annual report highlights the strategic importance of R&D in maintaining competitive advantage and meeting market demands[45] - The company aims to enhance market presence through innovation and product development, focusing on traditional Chinese medicine[42] - The company plans to increase R&D investment in new drugs, focusing on traditional Chinese medicine, natural products, and chemical drugs[135] - The company has made progress in new drug development, with several first-class new drugs in preclinical research and exploratory clinical studies approved for advanced cancer patients[141] Product Portfolio and Market Position - The company holds 218 drug approvals, including 46 exclusive varieties and 70 varieties listed in the national essential drug catalog[38] - The main products include Sanjin Pian, Xigua Shuang series, Xuenao, Tianqi, Hage, and Luo Han Guo Qing Fei granules/syrup, with a focus on traditional Chinese medicine[42] - Sanjin Pian is a national medical insurance Class A product, included in the national essential drug list and has shown significant therapeutic effects on urinary tract infections and chronic prostatitis[43] - The company has established a leading position in the fields of oral and throat medications and urological traditional Chinese medicine after over 50 years of development[52] - The company’s product portfolio includes OTC Class A products and national medical insurance directory products, indicating strong market presence[52] Risk Factors and Challenges - The company has faced risks including industry policy adjustments, raw material price fluctuations, and intensified market competition[7] - The company anticipates risks from industry policy changes, raw material price fluctuations, and intensified market competition, and will implement measures to mitigate these risks[135] - The company faced challenges in traditional sales channels due to the ongoing impact of COVID-19, with a significant risk of price reductions for drugs due to new medical insurance directory negotiations[138] Corporate Governance and Shareholder Returns - The company plans to distribute a cash dividend of ¥4 per 10 shares (including tax) to all shareholders[7] - The total distributable profit for 2020 was reported at 1,558,199,068.44 CNY, with the cash dividend constituting 100% of the profit distribution[150] - The company has committed to ensuring that cash dividends represent at least 20% of profit distribution during significant capital expenditure phases[150] - The company has adhered to its commitments regarding shareholder returns and has not engaged in non-operational fund occupation by controlling shareholders[150] Social Responsibility and Community Engagement - The company invested over 7.8 million yuan in social responsibility initiatives, including support for pandemic relief and poverty alleviation efforts in 2020[198] - In 2020, the company donated nearly 3 million yuan in medical supplies and support to frontline pandemic workers[198] - The company contributed 600,000 yuan to build an agricultural product trading center in a poverty-stricken village to help develop the local economy[198] - The company organized various employee welfare activities, including health check-ups and cultural events, to enhance employee well-being[198] - The company is committed to corporate citizenship and aims to balance economic benefits with social responsibilities in its future operations[198]

Financial Performance - Operating revenue for the third quarter was CNY 345,617,726.51, reflecting a year-on-year growth of 2.64%[9] - Net profit attributable to shareholders was CNY 63,774,992.49, representing a 13.66% increase year-on-year[9] - Net profit excluding non-recurring gains and losses was CNY 60,337,096.25, up by 15.49% compared to the same period last year[9] - Basic earnings per share for the quarter were CNY 0.12, an increase of 9.09% compared to the same quarter last year[9] - The weighted average return on equity was 2.16%, an increase of 0.13% year-on-year[9] - The total operating revenue for the current period is CNY 1,097,870,149.56, a decrease from CNY 1,127,334,924.80 in the previous period, representing a decline of approximately 2.3%[78] - The net profit for the current period is CNY 86,899,045.79, compared to CNY 53,278,937.41 in the previous period, indicating an increase of approximately 63.3%[75] - The basic and diluted earnings per share for the current period are both CNY 0.12, up from CNY 0.11 in the previous period[70] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,689,772,740.59, an increase of 8.03% compared to the end of the previous year[9] - The total current assets amounted to RMB 2,209,972,165.90 as of September 30, 2020, up from RMB 1,987,080,236.92 at the end of 2019, indicating an increase of about 11.2%[45] - The company's total assets reached RMB 3,689,772,740.59 as of September 30, 2020, compared to RMB 3,415,617,789.20 at the end of 2019, representing a growth of approximately 8%[54] - The total liabilities increased to RMB 702,197,012.65 as of September 30, 2020, from RMB 600,181,122.60 at the end of 2019, marking an increase of about 17%[51] - The ending balance of cash and cash equivalents was ¥1,528,391,726.13, an increase of 30.79% compared to the beginning balance of ¥1,168,565,901.01, mainly due to increased bill discounting and the company's new bank acceptance bill payment business[25] - The ending balance of accounts receivable decreased by 38.94% to ¥13,058,914.18 from ¥21,388,244.05, primarily due to increased bill discounting[25] - The ending balance of long-term borrowings increased by 193.93% to ¥219,986,706.15 from ¥74,843,163.17, mainly due to new loans from Baoship Biological and Baifan Biological[25] - The total liabilities decreased to CNY 352,409,966.35 from CNY 398,622,582.65, showing a reduction of approximately 11.58%[61] Cash Flow - Net cash flow from operating activities was CNY 20,689,196.69, a significant decrease of 87.55% year-on-year[9] - Cash received from investment income increased by 927.38% to ¥34,923,551.10 from ¥3,398,284.03, mainly due to interest from financial products[27] - Cash paid for purchasing goods and services decreased by 38.15% to ¥189,816,411.83 from ¥306,896,835.59, attributed to increased use of bills for payments[27] - Cash inflow from operating activities was ¥1,293,741,142.48, a decrease from ¥1,347,171,357.04 in the previous period[102] - The net cash flow from operating activities was ¥566,134,703.89, an increase of 18.7% compared to ¥476,836,400.58 in the previous period[102] - Cash inflow from investment activities totaled ¥1,395,190,221.07, significantly higher than ¥320,237,481.62 in the previous period[98] - Cash inflow from financing activities was ¥200,022,997.05, up from ¥160,085,521.34 in the previous period[98] Research and Development - Research and development expenses increased by 93.40% to ¥109,705,777.33 from ¥56,725,022.47, reflecting the company's intensified R&D efforts[25] - Research and development expenses surged to CNY 45,338,586.82, compared to CNY 14,305,033.36 in the same period last year, indicating a significant increase in investment in innovation[64] - Research and development expenses increased to ¥70,762,968.68, up from ¥48,527,261.56, reflecting a growth of 45.7%[89] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,793[14] - The largest shareholder, Guilin Sanjin Group Co., Ltd., held 61.26% of the shares[14] - The company did not engage in any repurchase transactions during the reporting period[21] Other Financial Information - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[41] - The company has engaged in entrusted wealth management with a total amount of RMB 6,200 million, with no overdue amounts[40] - The company reported other income of CNY 5,559,077.69, an increase from CNY 3,167,678.46 in the previous period, representing a growth of approximately 75.5%[71] - The company has experienced a significant reduction in credit impairment losses, reporting -¥824,556.82 compared to -¥4,169,121.10 in the previous period[85]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 752,252,423.05, a decrease of 4.85% compared to the same period last year[23]. - The net profit attributable to shareholders for the first half of 2020 was CNY 241,251,997.57, down 12.12% year-on-year[23]. - The net profit after deducting non-recurring gains and losses was CNY 233,493,196.27, reflecting an 11.76% decrease compared to the previous year[23]. - The total profit amounted to ¥280.75 million, down 12.76% from ¥321.82 million year-on-year[83]. - The company reported a significant decrease in revenue from other segments, primarily due to reduced service income from subsidiaries[86]. - The company's total revenue for the reporting period was approximately ¥713.94 million, a decrease of 4.39% compared to the same period last year[86]. - The revenue from traditional Chinese medicine (industrial) was approximately ¥692.46 million, representing 92.05% of total revenue, with a decline of 4.62% year-on-year[86]. - Domestic revenue accounted for 98.81% of total revenue, totaling approximately ¥743.30 million, down 5.09% from the previous year[86]. - International revenue increased by 20.46% year-on-year, reaching approximately ¥8.95 million, which is 1.19% of total revenue[86]. - The gross profit margin for the pharmaceutical sector was 73.96%, a decrease of 1.21% compared to the same period last year[86]. Cash Flow and Assets - The net cash flow from operating activities increased significantly by 96.35% to CNY 468,947,239.85[23]. - Cash and cash equivalents at the end of the reporting period amounted to approximately ¥1.47 billion, representing 40.85% of total assets, an increase of 8.10%[90]. - Accounts receivable decreased by 52.84% to ¥10,086,756.23 from ¥21,388,244.05 due to reduced sales by subsidiaries[66]. - Accounts receivable financing decreased by 69.36% to ¥107,271,055.94 from ¥350,154,966.41, primarily due to increased discounting of bank acceptance bills[69]. - Other receivables increased by 178.18% to ¥54,302,184.88 from ¥19,520,651.38, mainly due to an increase in employee loans[69]. - Other current assets increased by 165.66% to ¥77,729,276.48 from ¥29,259,396.54, attributed to the purchase of principal-protected fixed-income financial products[69]. - Long-term equity investments decreased by 76.05% to ¥899,554.25 from ¥3,755,800.48, mainly due to losses incurred by the joint venture Guangxi Huaneng Gas Distributed Energy Co., Ltd.[69]. - Long-term borrowings increased by 133.64% to ¥174,866,160.22 from ¥74,843,163.17, primarily due to loans taken by subsidiaries from financial institutions[69]. Research and Development - The company has a strong focus on research and development, continuously improving its product offerings and expanding its market presence[33]. - Research and development expenses increased by 51.74% to ¥64.37 million, primarily due to increased investment in new drug development[83]. - The company has established a comprehensive quality management system covering all stages from R&D to sales, ensuring product quality[70]. - The company has been recognized as a national technology innovation demonstration enterprise and has received multiple awards for its R&D capabilities[70]. - The company is advancing multiple first-class new drugs in preclinical development and clinical trials as planned[83]. Product Portfolio and Market Position - The company holds 217 drug approvals, including 46 exclusive specialty varieties and 112 varieties listed in the national medical insurance catalog[34]. - The company has a diverse product portfolio, including 23 exclusive products targeting various therapeutic areas such as urology, respiratory, and digestive systems[35]. - The company is recognized as a leading enterprise in the pharmaceutical industry in Guangxi and ranks among the top 50 Chinese traditional medicine companies[33]. - The company aims to strengthen its leading position in the fields of oral and throat medications and urological medications[33]. - The company has a unique proprietary product, Xuanvining tablets, derived from traditional Chinese medicine, which is included in the national medical insurance directory[54]. Environmental and Social Responsibility - The company invested CNY 2.7 million in environmental protection in the first half of 2020, enhancing production efficiency by over 35% and reducing energy consumption[181]. - The company’s photovoltaic power generation project is expected to save approximately CNY 1.4025 million in electricity costs and reduce CO2 emissions by 4,353.7 tons annually[181]. - The company has implemented a social responsibility plan focused on poverty alleviation, aligning with national policies[182]. - In the first half of 2020, the company invested over 140,000 yuan in poverty alleviation initiatives, including support for targeted poverty alleviation villages[183]. - The total financial input for poverty alleviation projects was 1.3 million yuan, with material donations amounting to 130,000 yuan[185]. Challenges and Risks - The company is facing risks related to industry policies, including the impact of new drug regulations and centralized procurement, which could affect future growth[128]. - The fluctuation in raw material prices poses a risk to production costs, as the prices of traditional Chinese medicine materials are subject to seasonal and market variations[128]. - New product development and clinical trials are subject to lengthy approval processes, which may pose risks to timely market entry[131]. - The projected cumulative net profit for the year may experience significant fluctuations compared to the previous year, indicating potential financial instability[128]. Shareholder and Corporate Governance - The annual shareholders' meeting had a participation rate of 77.00% on May 19, 2020[134]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[134]. - The half-year financial report has not been audited[139]. - There were no significant litigation or arbitration matters during the reporting period[140]. - The company did not engage in any major related party transactions during the reporting period[146].

Share Capital and Dividends - The company reported a total share capital of 590,200,000 shares as of December 31, 2019, with a cash dividend of 2.3 RMB per 10 shares (including tax) to be distributed to shareholders[6]. - The company has a total of 575,272,649 shares after deducting the repurchased shares from the total share capital[6]. - The company has a total of 14,927,351 shares in its repurchase account, which are excluded from the total share capital for dividend distribution purposes[6]. - The company distributed cash dividends of 132,312,709.27 RMB (including tax) for the fiscal year 2019, which accounts for 33.74% of the net profit attributable to shareholders[115]. - The cash dividend per 10 shares for 2019 was set at 2.30 RMB (including tax), with no stock dividends or capital reserve transfers planned[116]. - The total cash dividends distributed over the past three years were 236,080,000.00 RMB in 2017, 204,492,155.00 RMB in 2018, and 132,312,709.27 RMB in 2019[115]. - The total cash dividends (including other methods) for 2019 amounted to 311,803,620.61 RMB, representing 100% of the distributable profit[119]. - The company's total distributable profit for 2019 was reported at 1,386,355,341.17 RMB[119]. - The cash dividend distribution plan complies with the relevant regulations and the company's shareholder return plan for the next three years[119]. - The company has maintained a consistent cash dividend policy over the past three years, with a focus on returning value to shareholders while supporting long-term development[119]. Financial Performance - The company's operating revenue for 2019 was ¥1,640,423,731.48, representing a 3.52% increase compared to ¥1,584,673,431.92 in 2018[23]. - The net profit attributable to shareholders for 2019 was ¥392,142,681.13, a decrease of 5.13% from ¥413,346,104.70 in 2018[23]. - The net profit after deducting non-recurring gains and losses was ¥366,686,313.63, down 5.41% from ¥387,657,223.35 in 2018[23]. - The net cash flow from operating activities was ¥468,285,131.84, a decline of 15.12% compared to ¥551,726,197.80 in 2018[23]. - The basic earnings per share for 2019 was ¥0.67, a decrease of 4.29% from ¥0.70 in 2018[23]. - Total assets at the end of 2019 were ¥3,415,617,789.20, reflecting a 0.28% increase from ¥3,406,130,253.17 at the end of 2018[26]. - The net assets attributable to shareholders at the end of 2019 were ¥2,815,436,666.60, up 0.31% from ¥2,806,663,252.69 at the end of 2018[26]. - The total profit amounted to CNY 467.64 million, down 5.66% from CNY 495.69 million in the prior year[48]. - The weighted average return on equity for 2019 was 14.10%, down from 18.43% in 2018[23]. Research and Development - R&D expenses rose significantly by 61.00% to ¥104,111,970.74 in 2019, compared to ¥64,666,339.47 in 2018, reflecting increased investment in biopharmaceutical research[66]. - Total R&D investment accounted for 6.35% of operating revenue in 2019, up from 4.08% in 2018, indicating a strategic focus on innovation[66]. - The number of R&D personnel increased by 1.81% to 225 in 2019, with R&D personnel accounting for 10.26% of the total workforce[66]. - The company is focusing on the development of new drugs and the secondary development of existing products, with multiple new drugs in the preclinical stage and three monoclonal antibodies progressing as planned[107]. - The company is committed to building a national-level enterprise technology center to enhance its technological innovation capabilities[103]. Market and Sales - The company achieved total operating revenue of CNY 1,640.42 million in 2019, a 3.52% increase from CNY 1,584.67 million in the previous year[48]. - The main business revenue was CNY 1,638.83 million, reflecting a 3.52% growth compared to CNY 1,583.17 million in 2018[48]. - Domestic sales contributed CNY 1,624,232,719.69, making up 99.01% of total revenue, with a growth of 3.46% compared to the previous year[50]. - The revenue from traditional Chinese medicine (industrial) was CNY 1,476,848,730.85, which is 90.03% of total revenue, reflecting a 2.24% increase year-on-year[50]. - The company has a robust sales channel with 64 first-level distributors and 1,078 second-level distributors, ensuring effective market coverage[43]. Risk Management - The company emphasizes the importance of risk awareness regarding potential industry policy adjustments, raw material price fluctuations, intensified market competition, and uncertainties in research and development[6]. - The company faces risks from industry policy changes, including the new Drug Administration Law and centralized procurement policies, which could impact its operations[103]. - The fluctuation in prices of raw materials, particularly traditional Chinese medicinal herbs, poses a risk to production costs and profit margins[103]. - The company is actively responding to industry policy changes and enhancing project evaluation mechanisms to mitigate R&D risks[106]. Corporate Governance and Compliance - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management team[5]. - The company has appointed Tianjian Accounting Firm as its auditor for the reporting period[22]. - The company has not experienced any significant accounting errors requiring retrospective restatement during the reporting period[139]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[144]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[146]. Environmental and Social Responsibility - The company invested over 5.2 million yuan in charity donations, education poverty alleviation, and industrial poverty alleviation in 2019[172]. - The company has been recognized as a "Green Factory" and a "Water-saving Enterprise" in Guangxi[173]. - The company has a wastewater treatment facility with a daily processing capacity of 2,500 tons, achieving a COD concentration reduction from 3,000 mg/L to below 100 mg/L[180]. - The company implemented energy-saving measures that improved production efficiency by over 35%, reduced electricity consumption by 12%, and saved approximately 18.55 million yuan in electricity costs in 2020[173]. - The company actively participated in community support by purchasing 12,500 jin of unsold citrus from local farmers[170]. Share Repurchase - The company repurchased a total of 14,927,351 shares, accounting for approximately 2.53% of the total share capital before the repurchase plan[198]. - The total amount spent on the share repurchase was RMB 204,005,651.99, including transaction fees[198]. - The maximum transaction price during the repurchase was RMB 15.18 per share, while the minimum was RMB 12.60 per share[198]. - The company plans to use its own funds for the share repurchase, with a total amount not exceeding RMB 250 million and not less than RMB 125 million[195]. - The company held its first temporary shareholders' meeting on September 7, 2018, to approve the share repurchase plan[195].

Financial Performance - The company's operating revenue for Q1 2020 was ¥328,651,865.72, a decrease of 12.93% compared to ¥377,446,580.85 in the same period last year[9] - Net profit attributable to shareholders was ¥76,791,683.43, down 12.52% from ¥87,777,732.79 year-on-year[9] - The net profit after deducting non-recurring gains and losses was ¥70,683,852.98, reflecting a decline of 13.38% compared to ¥81,606,641.53 in the previous year[9] - Basic earnings per share were ¥0.1335, down 10.22% from ¥0.1487 year-on-year[9] - Total operating revenue for the current period was ¥328,651,865.72, a decrease of 12.92% compared to ¥377,446,580.85 in the previous period[51] - Net profit for the current period was ¥76,791,683.43, down 12.49% from ¥87,777,732.79 in the previous period[57] - The total profit for the current period was ¥94,508,442.15, down from ¥108,208,405.03, a decline of 12.77%[57] - The net profit for the current period is 87,068,795.09, a decrease of 10.8% compared to 96,852,209.01 from the previous period[64] - Operating profit for the current period is 104,380,597.79, down from 117,210,437.31, reflecting a decline of approximately 11%[64] - Total comprehensive income for the current period is 87,068,795.09, down from 96,852,209.01, representing a decline of 10.8%[67] Cash Flow - The net cash flow from operating activities was ¥165,577,116.28, which is an 8.97% decrease from ¥181,890,021.79 in the same period last year[9] - Cash flow from operating activities is 165,577,116.28, compared to 181,890,021.79 in the previous period, indicating a decrease of about 9%[71] - Cash inflow from operating activities totaled 447,163,981.92, a decrease of 26% from 604,502,775.68 in the previous period[68] - Cash outflow from operating activities is 281,586,865.64, down from 422,612,753.89, showing a reduction of approximately 33%[71] - The company reported a cash and cash equivalents balance of 699,344,529.69 at the end of the period, compared to 1,199,742,825.83 at the end of the previous period, a decrease of about 42%[74] - The company received cash from sales of goods and services amounting to 443,710,336.67, down from 592,759,506.44, reflecting a decline of approximately 25%[68] - The net cash flow from financing activities was negative at ¥75,508,660.92, significantly impacted by large share buybacks in the previous year[21] - The company's cash flow from financing activities generated a net inflow of 75,508,660.92, contrasting with a net outflow of -65,546,723.07 in the previous period[74] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,534,914,467.15, an increase of 3.49% from ¥3,415,617,789.20 at the end of the previous year[9] - As of March 31, 2020, current assets totaled CNY 2,117,763,922.85, an increase of 6.55% from CNY 1,987,080,236.92 on December 31, 2019[35] - Total liabilities amounted to CNY 642,686,117.12, up from CNY 600,181,122.60, marking a 7.05% increase[41] - The company's total current assets were reported at $1.99 billion, with no changes noted from the previous period[82] - The total non-current assets were $1.43 billion, remaining stable compared to the previous reporting period[82] - The total assets of the company stood at $3.42 billion, with total liabilities amounting to $600.18 million, indicating a strong asset base[85] Shareholder Information - Net assets attributable to shareholders increased by 2.73% to ¥2,892,228,350.03 from ¥2,815,436,666.60 at the end of the previous year[9] - The top shareholder, Guilin Sanjin Group Co., Ltd., holds 61.76% of the shares, totaling 364,519,300 shares[12] - The company's equity attributable to shareholders increased to CNY 2,892,228,350.03 from CNY 2,815,436,666.60, a growth of 2.73%[44] - The company's total equity attributable to shareholders was $2.82 billion, reflecting a solid equity position[85] Expenses - Sales expenses decreased by 37.07% to ¥75,594,748.26 due to reduced expenditures impacted by the pandemic[18] - R&D expenses increased by 52.98% to ¥27,893,183.11 due to increased research spending[18] - Total operating costs decreased to ¥235,001,235.26 from ¥269,848,481.53, reflecting a reduction of 12.96%[54] - The company reported a decrease in sales expenses to ¥75,594,748.26 from ¥120,123,081.06, a reduction of 37.1%[54] Government Support - The company received government subsidies amounting to ¥5,177,101.25 during the reporting period[9] Investment Activities - Cash flow from investment activities increased by 132.99% to ¥326,537,401.65 mainly due to increased construction projects[21] - Investment activities resulted in a net cash outflow of -209,692,327.81, compared to -133,935,260.57 in the previous period, indicating increased investment expenditures[72] - The company reported a cash outflow of $445 million related to other investment activities, indicating ongoing investment commitments[78] Other Information - The company did not engage in any repurchase transactions during the reporting period[15] - The company has not undergone an audit for the first quarter report[92] - The company has not applied the new revenue and lease standards retroactively since 2020[89]

Financial Performance - Operating revenue for the reporting period was CNY 336,714,193.48, down 5.36% year-on-year[9] - Net profit attributable to shareholders was CNY 56,109,200.03, a decrease of 42.09% compared to the same period last year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 52,244,274.86, down 42.68% year-on-year[9] - Basic earnings per share were CNY 0.15, a decrease of 6.25% year-on-year[9] - The weighted average return on equity was 2.03%, down 1.51% compared to the same period last year[9] - The company's net profit attributable to shareholders for the current period is ¥56,109,200.03, a decrease of 42.09% compared to the previous period, primarily due to a reduction in revenue and an increase in selling expenses[23] - The company's operating revenue for the current period is ¥273,909,594.35, a decrease of 11.6% compared to ¥309,862,878.58 in the previous period[73] - The net profit for the current period is ¥56,109,200.03, down 42.3% from ¥96,889,526.89 in the previous period[69] - The basic and diluted earnings per share for the current period are both ¥0.15, compared to ¥0.16 in the previous period[69] - The company's operating profit is ¥71,170,352.36, a decrease of 38.3% from ¥115,191,106.79 in the previous period[69] - The total profit for the current period is ¥70,562,929.72, down 38.8% from ¥115,344,530.06 in the previous period[69] - The company experienced a decrease in total profit to ¥392,382,164.59 from ¥431,647,470.05, reflecting a decline of approximately 9.1%[82] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,272,139,745.25, a decrease of 3.93% compared to the end of the previous year[9] - The ending balance of accounts receivable is ¥162,890,661.44, an increase of 33.05% from the beginning of the period, mainly due to increased sales credit[20] - The ending balance of prepayments is ¥84,163,593.76, an increase of 320.40% from the beginning of the period, primarily due to increased marketing expenses[20] - The ending balance of other receivables is ¥52,758,685.36, an increase of 812.65% from the beginning of the period, mainly due to an increase in receivable temporary payments and petty cash[20] - The ending balance of construction in progress is ¥157,816,988.43, an increase of 58.04% from the beginning of the period, primarily due to increased construction projects in Shanghai Sanjin[20] - The ending balance of long-term borrowings is ¥26,940,000.00, an increase from ¥0 at the beginning of the period, mainly due to new loans taken by Shanghai Sanjin[20] - The ending balance of long-term payables is ¥29,988,052.01, an increase from ¥0 at the beginning of the period, primarily due to financing leases by Shanghai Sanjin[20] - The ending balance of inventory shares is ¥203,967,385.47, an increase of 732.02% from the previous period, mainly due to increased share repurchases[20] - The total liabilities decreased to ¥518,189,489.82 from ¥599,467,000.48, a reduction of 13.53%[47] - The total assets as of September 30, 2019, were ¥3,272,139,745.25, down 3.93% from ¥3,406,130,253.17 at the end of 2018[44] - Current assets totaled CNY 1,657,979,665.17, down from CNY 1,817,938,286.52, indicating a decrease of about 8.8%[55] - The company's total liabilities decreased to CNY 385,120,643.37 from CNY 520,896,704.43, a reduction of approximately 26%[58] - The equity attributable to shareholders decreased to CNY 2,695,048,455.66 from CNY 2,727,952,686.51, a decline of about 1.2%[61] Cash Flow - The net cash flow from operating activities was CNY 166,197,010.38, an increase of 53.31% compared to the same period last year[9] - Cash flow from operating activities generated a net amount of CNY 405,025,275.45, slightly up from CNY 398,283,133.67 in the prior period[95] - Cash inflow from operating activities totaled CNY 1,347,171,357.04, an increase from CNY 1,229,234,587.82 year-over-year[104] - Cash outflow for operating activities was CNY 870,334,956.46, compared to CNY 816,591,693.84 in the previous year, reflecting an increase[104] - Investment activities resulted in a net cash outflow of CNY -186,553,275.43, down from CNY 49,565,699.66 in the prior period[101] - Cash flow from financing activities showed a net outflow of CNY -327,335,177.07, compared to CNY -239,293,455.82 in the previous year[101] - The ending cash and cash equivalents balance was CNY 1,108,471,610.63, compared to CNY 942,070,891.48 at the end of the previous period[101] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,648[14] - The largest shareholder, Guilin Sanjin Group Co., Ltd., held 61.79% of the shares[14] - The company has repurchased a total of 14,927,351 shares, accounting for 2.53% of the total share capital before the repurchase plan, with a total transaction amount of ¥204,005,651.99[24] Government and Compliance - The company received government subsidies amounting to CNY 14,165,920.86 during the reporting period[9] - The company reported no non-compliance with external guarantees during the reporting period[31] - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[32] - The company engaged in entrusted wealth management with a total amount of ¥8,400,000, of which ¥6,800,000 remains outstanding[36] - The company has committed to equity incentives and fulfilled its commitments to minority shareholders on time[30] Research and Development - Research and development expenses were CNY 14,305,033.36, down 18.3% from CNY 17,457,412.87 in the previous year[62] - Research and development expenses increased to ¥19,724,594.04, up 26.5% from ¥15,586,044.92 in the previous period[73] - Research and development expenses rose to ¥56,725,022.47, compared to ¥47,208,157.44 in the previous period, indicating an increase of about 20.0%[79]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 790,620,731.32, representing a 4.48% increase compared to CNY 756,685,264.40 in the same period last year[24]. - The net profit attributable to shareholders of the listed company was CNY 274,511,126.98, up by 1.69% from CNY 269,936,925.99 year-on-year[24]. - The net cash flow from operating activities decreased by 17.61%, amounting to CNY 238,828,265.07 compared to CNY 289,874,476.21 in the previous year[24]. - The basic earnings per share increased by 2.17% to CNY 0.47, compared to CNY 0.46 in the same period last year[24]. - The weighted average return on net assets was 9.57%, a decrease of 0.25% from 9.82% in the previous year[24]. - The net profit after deducting non-recurring gains and losses was CNY 264,607,007.13, reflecting a 1.77% increase from CNY 260,000,085.82 year-on-year[24]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,240,934,897.78, a decrease of 4.85% from CNY 3,406,130,253.17 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company were CNY 2,758,246,210.69, down by 1.73% from CNY 2,806,663,252.69 at the end of the previous year[24]. - Current assets decreased to CNY 1,969,819,444.19 from CNY 2,126,657,952.66 year-over-year[185]. - Total liabilities decreased to CNY 369,565,099.44 from CNY 484,988,873.42 year-over-year[188]. - The total equity attributable to shareholders decreased from ¥2,806,663,252.69 to ¥2,758,246,210.69, a decline of approximately 1.7%[190]. Investments and Funding - The total amount of raised funds is RMB 859.28 million, with a cumulative investment of RMB 788.57 million as of June 30, 2019, representing 91.8% of the total raised funds[74]. - The company has a remaining balance of raised funds amounting to RMB 75.41 million as of June 30, 2019[77]. - The company has committed a total investment of RMB 73,412.53 million, with an actual investment of RMB 70,169.94 million, reflecting a utilization rate of approximately 95.9%[82]. - The company reported a total of RMB 12,500 million in bank loans to be repaid, indicating a focus on financial management[82]. Research and Development - Research and development expenses rose by 42.58% to ¥42,419,989.11 from ¥29,750,744.57, reflecting increased investment in innovation[56]. - The company aims to increase R&D investment and strengthen the development of new products and the re-development of existing products[105]. - The company acknowledges the risks associated with new drug development and will implement a project evaluation mechanism to mitigate these risks[105]. Market and Competition - The company emphasizes the importance of risk awareness regarding potential industry policy adjustments and market competition[6]. - The company is facing significant risks from industry policy changes, including drug registration reforms and centralized procurement policies[103]. - The company plans to closely monitor national policy trends and strengthen analysis of major industry information to adapt to changes[103]. Environmental and Social Responsibility - The company has established pollution prevention facilities, ensuring that wastewater and emissions meet national environmental standards[136]. - The wastewater treatment system has a daily processing capacity of 2,500 tons, with a COD concentration reduced from 3,000 mg/l to below 100 mg/l[136]. - The company invested 55.5 million in poverty alleviation efforts, including 2.5 million in agricultural and forestry industry poverty alleviation projects[143]. - The company has implemented energy-saving measures, replacing 40,000 tons of biomass fuel annually, reducing SO2 emissions by 68 tons and NOx emissions by 41 tons[142]. Shareholder Information - The company has a total share capital of 590,200,000 shares, with 533,391,150 shares being unrestricted and 56,808,850 shares being restricted[153]. - The largest shareholder, Guilin Sanjin Group Co., Ltd., holds 61.79% of the shares, while the second-largest shareholder, Zou Jieming, holds 9.05%[157]. - The company announced a cash dividend of RMB 3.50 per 10 shares, with the record date set for May 30, 2019[156]. Corporate Governance - The company did not distribute cash dividends or bonus shares for the half-year period[108]. - The company has not experienced any major litigation or arbitration matters during the reporting period[116]. - The company has not engaged in any significant related party transactions during the reporting period[119].