Financial Performance - The company's operating revenue for the first half of 2022 was CNY 896,919,361.78, representing a 14.07% increase compared to CNY 781,472,574.00 in the same period last year[28]. - The net profit attributable to shareholders of the listed company decreased by 76.49% to CNY 232,321,926.37 from CNY 988,598,441.07 in the previous year[28]. - The net cash flow from operating activities was CNY 239,262,551.02, down 59.09% from CNY 585,007,916.61 in the same period last year[28]. - Basic earnings per share dropped by 76.59% to CNY 0.4377 from CNY 1.8710 in the previous year[28]. - The weighted average return on net assets was 7.18%, down from 32.05% in the previous year[28]. - The company reported a decrease in diluted earnings per share by 76.13% to CNY 0.4372 from CNY 1.8322 in the previous year[28]. - The company's operating profit for the same period was 251.16 million yuan, a significant decrease of 76.94% year-on-year, primarily due to fluctuations in the stock price of Qingdao Baiyang Pharmaceutical[61]. - The net profit attributable to shareholders, after excluding non-recurring gains and losses, was 246.11 million yuan, reflecting a year-on-year increase of 4.11%[61]. Assets and Investments - Total assets at the end of the reporting period were CNY 5,625,570,431.10, a 1.04% increase from CNY 5,567,753,848.57 at the end of the previous year[28]. - The net assets attributable to shareholders of the listed company decreased by 2.63% to CNY 3,085,559,918.91 from CNY 3,169,030,586.36 at the end of the previous year[28]. - The company's investment income was -CNY 80,752,962.89, accounting for -32.17% of total profit, indicating a loss from long-term equity investments and financial products[79]. - The company's long-term equity investments decreased to CNY 454,079,507.15, representing 8.07% of total assets, down from 9.79% at the end of the previous year[82]. - The total amount of funds raised in 2009 was ¥45,120.01 million, with ¥40,369.74 million cumulatively used, leaving ¥4,750.27 million unused[97]. - The total amount of raised funds is 131,096.54 million, with 58,473.96 million used for various projects[107]. Government Support and Subsidies - The company received government subsidies amounting to CNY 58,960,681.43 during the reporting period[31]. - The company received government subsidies and deferred income of CNY 59,131,829.31, accounting for 23.56% of total profit[79]. Research and Development - Research and development expenses were ¥46,761,662.80, a slight increase of 1.53% compared to ¥46,058,231.99 in the previous year[75]. - The company continues to focus on the research and development of new Tibetan medicine products, emphasizing clinical value and the study of specific Tibetan medical theories[54]. - The company is actively pursuing digital marketing transformation and expanding e-commerce sales channels to capture future growth opportunities[56]. - The company plans to enhance brand competitiveness and clinical value through refined management and the establishment of independent academic promotion teams[118]. - The company will increase investment in R&D, focusing on new drugs with clear clinical value, while addressing risks associated with clinical research personnel turnover[119]. Marketing and Sales - The company operates a self-marketing model with over 1,600 sales personnel across more than 30 provinces, focusing on both urban hospitals and grassroots medical institutions[56]. - The company continues to focus on enhancing brand awareness in the retail market, particularly among young consumers, through various marketing initiatives[66]. - The company is leveraging digital marketing and online platforms to enhance product recognition and ensure multi-channel access for patients[122]. Social Responsibility and Compliance - The company has actively participated in social responsibility initiatives, donating 5.1679 million yuan to various poverty alleviation projects[145]. - The company has implemented environmental monitoring and has not faced any administrative penalties for environmental issues during the reporting period[141]. - The company has maintained compliance with environmental standards, with wastewater discharge meeting the required standards[141]. Shareholder Actions - The company plans not to distribute cash dividends or bonus shares for this period[7]. - The company approved the release of 7,200 restricted shares, representing 0.0014% of total shares, as part of its 2019 stock incentive plan[130]. - The company plans to repurchase and cancel 15,785 restricted shares due to non-compliance with performance conditions by certain incentive recipients[131]. - The company completed the repurchase and cancellation of unvested restricted shares on June 28, 2022[136]. Risks and Challenges - The company faces risks from ongoing national healthcare reforms, including the normalization of bulk purchasing policies, which may reduce profit margins on drugs[115]. - The ongoing pandemic has negatively impacted the company's operations, leading to decreased hospital visits and drug demand, prompting adjustments in marketing and distribution strategies[120].

Financial Performance - The company's operating revenue for 2021 was ¥1,770,485,989.72, representing a 19.22% increase compared to ¥1,476,213,803.54 in 2020[30] - The net profit attributable to shareholders for 2021 was ¥715,876,201.47, a significant increase of 77.21% from ¥405,700,557.01 in 2020[30] - The net cash flow from operating activities reached ¥1,034,917,529.72, marking a substantial increase of 335.44% compared to ¥238,651,601.56 in the previous year[30] - Basic earnings per share for 2021 were ¥1.3542, up 77.20% from ¥0.7675 in 2020[30] - The net profit after deducting non-recurring gains and losses was ¥344,932,156.80, showing a slight increase of 0.64% from ¥344,471,511.96 in 2020[30] - Total assets reached CNY 5,567,753,848.57, representing a 24.77% increase from CNY 4,459,100,471.49 at the end of the previous year[33] - The weighted average return on equity improved to 23.21%, up from 17.01% in the previous year[33] - The company achieved operating revenue of 1,770.49 million yuan, a year-on-year increase of 19.22%[83] - Operating profit reached 790.21 million yuan, up 73.44% compared to the previous year[83] - Net profit attributable to shareholders was 715.88 million yuan, reflecting a growth of 77.21% year-on-year[83] Dividend and Shareholder Information - The company plans to distribute a cash dividend of ¥5.90 per 10 shares (including tax) to all shareholders[5] - The company has not changed its main business since its listing[28] - The company has no changes in its controlling shareholders[28] Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding future development statements made in the report[5] - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management[4] - The company confirmed no significant discrepancies between financial reports under international and Chinese accounting standards[34][35] - The company acknowledges the high risks associated with drug development and plans to increase investment in R&D while ensuring compliance with evolving regulations[181] - The company will strengthen its technical workforce and improve hardware facilities to keep pace with pharmaceutical innovations and mitigate policy risks[183] Market Position and Product Development - The company is positioned to benefit from the growing demand for pharmaceutical products driven by an aging population and increased healthcare spending[48] - The company plans to continue expanding its market presence and investing in new product development to capitalize on industry growth opportunities[48] - The company is a leading producer of Tibetan medicine, holding 141 approved drug numbers, including 60 OTC products and 3 state secret technology products[53] - The core product, Qizheng Pain Relief Patch, has consistently ranked among the top in the external pain relief patch market for over 20 years, with a brand value of 2.816 billion[57] - The company has 149 patent technologies, including 134 invention patents, and has been recognized as a "demonstration enterprise of technological innovation" by the Ministry of Industry and Information Technology[54] - The company is actively engaged in evidence-based medical research to optimize indications and enhance brand marketing, expanding traditional Tibetan medicine into mainstream markets[54] - The company has established two national-local joint engineering laboratories for Tibetan medicine formulations, focusing on modernizing traditional Tibetan medicine[53] - The company’s main products include Qizheng Pain Relief Patch, Qingpeng Ointment, and Baimai Ointment, targeting various medical conditions such as joint pain and muscle injuries[59] - The company has been recognized as one of the top 50 enterprises in the Chinese patent index for traditional Chinese medicine[55] - The company is committed to enhancing the quality and efficacy of traditional Tibetan medicine through modern technological innovations[53] Research and Development - The company aims to improve its R&D capabilities and accelerate the transformation of research results through enhanced infrastructure and system construction[66] - The company has integrated its R&D, manufacturing, and sales systems to ensure a comprehensive approach to the Tibetan medicine industry[63] - The company has developed a systematic R&D framework for Tibetan medicine, maintaining a leading position in R&D and technology levels in the country[79] - The company invested CNY 104,059,450.87 in R&D, which is 5.88% of operating revenue, a decrease from 6.45% in the previous year[121] - The number of R&D personnel increased by 8.24% to 276, with a notable rise in the number of staff under 30 years old[124] Marketing and Sales Strategy - The marketing team consists of over 1,500 members, focusing on academic promotion and digital marketing to expand market coverage in hospitals and retail[69] - The company aims to strengthen its brand in the pain relief sector, targeting a leading position in external pain relief products through a multi-product strategy[72] - The company is actively pursuing digital marketing transformation and expanding e-commerce sales channels to capture future growth opportunities[73] - The company is actively exploring new retail channels and enhancing digital marketing strategies to reach younger consumer demographics[91] - The company conducted over 130 online lectures and nearly 100 offline academic events to enhance product and brand value through academic marketing[87] Investment and Financial Management - The total investment amount for the reporting period reached ¥3,494,704,565.73, a significant increase of 321.05% compared to ¥830,000,000.00 in the same period last year[142] - The company invested ¥111,378,386.38 in the construction of the Qizheng Tibetan Medicine Industrial Base Project during the reporting period, with a cumulative investment of ¥269,596,923.07[142] - The total amount of raised funds from the 2009 stock issuance was ¥45,120.01 million, with ¥14,177.95 million utilized in the reporting period[148] - The total amount of raised funds from the 2020 convertible bond issuance was ¥79,050.02 million, with ¥9,043.30 million utilized in the reporting period[150] - The cumulative amount of unused raised funds as of the end of the reporting period was ¥74,119.12 million, primarily stored in dedicated fundraising accounts[148] Corporate Governance - The board of directors consists of 7 members, with 5 external directors, including 3 independent directors, ensuring a balanced governance structure[191] - The company maintained strict independence from its controlling shareholder, ensuring no interference in decision-making and operations[191] - The company implemented robust information disclosure practices, ensuring timely and accurate communication with shareholders and regulatory bodies[197] - The company focused on maintaining stakeholder rights and promoting social responsibility through environmental protection and community engagement initiatives[196] - The company is committed to continuous improvement in corporate governance and compliance with relevant laws and regulations[190]

西藏奇正藏药股份有限公司 2022 年第一季度报告全文 证券代码：002287 证券简称：奇正藏药 公告编号：2022-023 债券代码：128133 债券简称：奇正转债 西藏奇正藏药股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的 真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 √ 是 □ 否 追溯调整或重述原因 同一控制下企业合并 | --- | --- | --- | --- | --- | |-----------------------------------------------------|----------------|----------- ...

西藏奇正藏药股份有限公司 2021 年第三季度报告 债券代码：128133 债券简称：奇正转债 证券代码：002287 证券简称：奇正藏药 公告编号：2021-091 西藏奇正藏药股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的 真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 √ 是 □ 否 追溯调整或重述原因 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------|---------------- ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 781,472,574, representing a 27.69% increase compared to CNY 611,993,644.72 in the same period last year[28]. - The net profit attributable to shareholders of the listed company reached CNY 988,598,441.07, a significant increase of 346.88% from CNY 221,224,531.24 year-on-year[28]. - The net profit after deducting non-recurring gains and losses was CNY 236,789,634.40, up 40.52% from CNY 168,508,855.83 in the previous year[28]. - The net cash flow from operating activities was CNY 585,007,916.61, an increase of 47.23% compared to CNY 397,353,480.45 in the same period last year[28]. - Basic earnings per share rose to CNY 1.8710, a 347.61% increase from CNY 0.4180 in the previous year[28]. - The total assets at the end of the reporting period were CNY 5,601,138,492.42, reflecting a 25.61% increase from CNY 4,459,100,471.49 at the end of the previous year[28]. - The net assets attributable to shareholders of the listed company increased to CNY 3,430,452,334.42, up 31.03% from CNY 2,618,151,993.84 at the end of the previous year[28]. - The company achieved operating revenue of 781.47 million yuan in the first half of 2021, representing a year-on-year growth of 27.69%[58]. - The operating profit reached 1.089 billion yuan, an increase of 316.03% compared to the same period last year[58]. - The company reported a substantial increase in investment income, which surged by 4,363.39% to ¥781,047,938.16 from ¥17,498,976.00, primarily due to equity method recognition of long-term investments[72]. Investment and Financial Management - The company received government subsidies amounting to CNY 37,983,545.93 during the reporting period, related to industrial support funds[31]. - The profit from long-term equity investments and financial product investments recognized during the reporting period was CNY 781,047,938.16[31]. - The company has established a partnership with Guangdong Guangyao Jinshen Equity Investment Fund Management Co., Ltd. to invest in Guangzhou Baiyunshan Yixintang Pharmaceutical Investment Development Co., Ltd., enhancing its retail channel integration[66]. - The company participated in the establishment of the M&A fund Tibet Qunying Investment Center (Limited Partnership), which invested in Qingdao Baiyang Pharmaceutical Co., Ltd., listed on the Shenzhen Stock Exchange[66]. - The company reported a total fundraising amount of 10,000 million for the "Guangfa Income Treasure No. 1" product with an annualized return of 3.65%[156]. - The "Guangfa Income Treasure No. 1" product generated a total income of 542.84 million, with 220.48 million yet to be collected[156]. - The company is actively managing its investment strategies to mitigate potential risks associated with principal recovery[165]. Research and Development - The company is actively involved in new drug development and enhancing quality standards through collaboration with domestic and international research institutions[52]. - The company's R&D investment increased by 97.46% to ¥46,058,231.99 from ¥23,325,051.60, reflecting a significant commitment to innovation[72]. - The company plans to increase investment in R&D, focusing on new drugs with clear clinical value, and enhance technical capabilities and talent training[108]. - The company will update existing hardware facilities to keep pace with pharmaceutical technology innovations and strengthen collaboration with CROs[108]. Market and Product Development - The demand for pharmaceutical products is increasing due to factors such as aging population and enhanced health awareness[39]. - The company is recognized as one of the first "innovative enterprises" in the traditional Tibetan medicine sector, focusing on modernizing Tibetan medicine[41]. - The main products include external pain relief ointments and oral Tibetan medicines, covering multiple treatment areas such as orthopedics and gynecology[44]. - The pain relief patch product has become the market leader in its category on platforms like Meituan and Ele.me, achieving the highest market share[60]. - The company has intensified urban coverage and channel penetration, actively promoting digital marketing transformation[80]. - The company is actively expanding its new retail business and enhancing product coverage through digital distribution strategies[107]. Corporate Social Responsibility - The company has participated in various poverty alleviation activities, donating a total of 74.09 million yuan for educational support and 10.87 million yuan for health initiatives[124]. - The company received several honors, including recognition as an "Outstanding Taxpayer" and "Advanced Collective for Employment Promotion," highlighting its commitment to corporate social responsibility[67]. Shareholder and Stock Information - The total number of ordinary shareholders at the end of the reporting period is 30,923[188]. - The largest shareholder, Gansu Qizheng Industrial Group Co., Ltd., holds 68.74% of the shares, totaling 364,546,473 shares[193]. - The second largest shareholder, Tibet Yutuo Cultural Development Co., Ltd., holds 18.55% of the shares, totaling 98,395,215 shares[193]. - The total number of restricted shares at the beginning of the period was 2,417,902, with 10,000 shares released and 300 shares added, resulting in 2,405,605 restricted shares at the end of the period[187]. - The total number of shares held by the top 10 unrestricted ordinary shareholders is significant, with the largest holding being 364,546,473 shares[194]. - The company has a stock incentive plan that allows for the release of restricted shares in four phases, each phase releasing 25% of the total[186].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 325,918,211.50, representing a 113.97% increase compared to CNY 152,316,037.10 in the same period last year[10]. - Net profit attributable to shareholders was CNY 103,434,628.21, up 112.26% from CNY 48,730,150.83 year-on-year[10]. - Basic earnings per share increased by 110.39% to CNY 0.1944 from CNY 0.0924 in the same period last year[10]. - Operating revenue rose by 113.97% to ¥325,918,211.50 as business normalized following effective control of COVID-19[29]. - Net profit attributable to shareholders increased by 112.26% to ¥103,434,628.21, driven by growth in operating revenue[29]. - Total operating income for the current period reached ¥160,323,582.77, a significant increase from ¥90,457,223.84 in the previous period, representing an increase of approximately 77%[92]. - Net profit for the current period was ¥103,218,844.63, compared to ¥48,478,920.29 in the previous period, indicating a growth of about 113%[87]. - The company reported a net profit of CNY 1,300,806,853.71, up from CNY 1,197,371,359.20, indicating an increase of approximately 8.6%[74]. Cash Flow - The net cash flow from operating activities decreased by 59.51%, amounting to CNY 129,100,930.10 compared to CNY 318,812,974.85 in the previous year[10]. - Cash inflow from operating activities totaled CNY 444,418,171.87, down from CNY 561,417,282.03 in the prior period[103]. - Cash outflow from investing activities was CNY 614,692,547.72, compared to CNY 928,127,925.05 in the previous period[103]. - Cash flow from financing activities resulted in a net outflow of CNY -102,370,500.00, compared to a net inflow of CNY 101,221,727.79 in the previous period[105]. - The ending balance of cash and cash equivalents was CNY 1,242,170,976.59, down from CNY 871,672,211.69 year-over-year[105]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,407,792,414.64, a decrease of 1.15% from CNY 4,459,100,471.49 at the end of the previous year[10]. - The total liabilities decreased to CNY 2,907,792,414.64 from CNY 2,959,100,471.49, indicating a reduction of about 1.7%[68]. - The company's total assets as of March 31, 2021, were CNY 4,407,792,414.64, down from CNY 4,459,100,471.49, a decrease of approximately 1.2%[68]. - The total current assets as of March 31, 2021, amounted to CNY 2,908,556,605.14, a decrease from CNY 2,970,537,154.89 as of December 31, 2020, reflecting a decline of approximately 2.1%[65]. - The total equity attributable to shareholders increased to CNY 2,545,952,778.43 from CNY 2,477,787,575.87, marking an increase of about 2.8%[81]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,047[14]. - The largest shareholder, Gansu Qizheng Industrial Group Co., Ltd., held 68.74% of the shares, amounting to 364,546,473 shares[14]. Investments and Expenditures - The company has invested CNY 600,000,000.00 in financial products during the reporting period, with no redemptions recorded[49]. - The company has engaged in entrusted financial management, with a total of CNY 60,000,000.00 in entrusted financial products, all of which are still outstanding[51]. - R&D expenses grew by 112.79% to ¥12,551,750.37, indicating increased investment in research activities[29]. - Sales expenses increased by 154.43% to ¥126,621,076.21, reflecting higher investment in sales activities[29]. Government and Financial Support - The company received government subsidies totaling CNY 759,620.10 during the reporting period[10]. - The fair value changes of financial assets resulted in a gain of CNY 1,883,698.63 during the reporting period[10]. Compliance and Governance - The company has no reported violations regarding external guarantees during the reporting period[59]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[60]. - The company did not engage in any research, communication, or interview activities during the reporting period[61]. - The first quarter report for 2021 was not audited[124].

Financial Performance - The company's operating revenue for 2020 was CNY 1,476,213,803.54, representing a 5.24% increase compared to CNY 1,402,676,904.18 in 2019[22] - The net profit attributable to shareholders for 2020 was CNY 405,700,557.01, an increase of 11.38% from CNY 364,254,312.93 in 2019[22] - The basic earnings per share for 2020 was CNY 0.7675, reflecting an increase of 11.34% compared to CNY 0.6893 in 2019[22] - The net profit after deducting non-recurring gains and losses for 2020 was CNY 344,471,511.96, which is a 13.68% increase from CNY 303,016,185.35 in 2019[22] - Total revenue for the year was approximately ¥1,475,213,803.54, with quarterly revenues of ¥152,316,037.10 in Q1, ¥459,677,607.62 in Q2, ¥402,994,733.94 in Q3, and ¥461,225,424.88 in Q4[28] - Net profit attributable to shareholders for the year was approximately ¥405,700,557.01, with quarterly net profits of ¥48,730,150.83 in Q1, ¥172,494,380.41 in Q2, ¥103,352,032.56 in Q3, and ¥81,123,993.21 in Q4[28] - Operating profit reached 457.28 million yuan, up 13.88% compared to the same period last year[78] - The gross profit margin for the pharmaceutical sector was 86.19%, a decrease of 1.06% from the previous year[105] Cash Flow and Assets - The net cash flow from operating activities decreased by 41.21% to CNY 238,651,601.56 in 2020, down from CNY 405,951,978.30 in 2019[22] - Cash and cash equivalents increased by 35.88% compared to the beginning of the year, mainly due to the funds raised from newly issued convertible bonds[58] - The net increase in cash and cash equivalents was CNY 483,149,609.82, down 49.21% from CNY 951,239,340.74 in 2019[129] - Total assets at the end of 2020 were CNY 4,459,100,471.49, a 49.43% increase from CNY 2,984,122,442.23 at the end of 2019[25] - The company reported investment income of CNY 12,631,518.63, accounting for 2.83% of total profit[130] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 3.4 per 10 shares (including tax) to all shareholders[6] - The cash dividend policy was strictly implemented according to regulations, with the 2020 dividend distribution completed on July 17, 2020[189] - The company distributed cash dividends of 3.50 CNY per 10 shares, totaling 180,317,966.40 CNY, which represents 44.45% of the net profit attributable to ordinary shareholders in 2020[189] - The total distributable profit available for shareholders was 1,055,902,828.82 yuan, after accounting for the legal surplus reserve and previous undistributed profits[198] Research and Development - The company is focused on the research and development of traditional Tibetan medicine, with a commitment to modernizing these practices through innovation and technology[38] - The company has established national-level research and development platforms to enhance the quality and efficacy of its products[38] - The R&D investment for 2020 was approximately 95.82 million CNY, representing a 50.75% increase from 2019[124] - The company improved its R&D efficiency and quality, with key products included in national research projects aimed at modernizing traditional medicine[86] Market Strategy and Operations - The company aims to expand its market presence by exploring third-party markets and providing treatment solutions for patients in private clinics[49] - The company has established a self-operated marketing team of over 1,000 people, promoting sales through academic and brand promotion models across more than 30 provinces and regions[49] - The company expanded its digital marketing transformation, enhancing e-commerce sales through platforms like Alibaba, JD.com, and Pinduoduo, while also venturing into social e-commerce[79] - The company is committed to developing an internet health marketing platform to support product sales and enhance brand visibility[171] Challenges and Risks - The impact of the COVID-19 pandemic on the company's operations included decreased hospital visits and reduced consumer spending at pharmacies, potentially leading to a decline in drug demand[182] - The company faced various risks due to the pandemic, affecting clinical research, market promotion, and logistics[182] - The company faces risks related to policy changes in the pharmaceutical industry, which may impact profit margins and market dynamics[177] Corporate Social Responsibility - The company launched the "Health China, We Are Action" public welfare project, providing personalized pain solutions through free clinics and education activities nationwide[63] - The company received multiple awards for its corporate social responsibility efforts, including the "Best CSR Brand" and "Best CSR Strategy Award" in 2020[96]

西藏奇正藏药股份有限公司 Tibet Cheezheng Tibetan Medicine Co.,Ltd 2020年第三季度报告 证券代码：002287 证券简称：奇正藏药 中国 西藏 2020年10月 西藏奇正藏药股份有限公司 2020 年第三季度报告全文 1 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、误导性陈述或者重大遗漏，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。 公司负责人雷菊芳、主管会计工作负责人姚晓梅及会计机构负责人(会计主管人员)裴庆 红声明：保证季度报告中财务报表的真实、准确、完整。 西藏奇正藏药股份有限公司 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 CNY 611,993,644.72, a slight increase of 0.37% compared to CNY 609,757,574.22 in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached CNY 221,224,531.24, representing a growth of 9.48% from CNY 202,076,832.88 year-on-year[23]. - The net cash flow from operating activities significantly increased by 100.67%, amounting to CNY 397,353,480.45 compared to CNY 198,014,122.54 in the previous year[23]. - Basic earnings per share rose to CNY 0.4180, up 9.54% from CNY 0.3816 in the same period last year[23]. - Operating profit reached 261.84 million yuan, reflecting a growth of 16.51% compared to the previous year[53]. - The company reported a decrease of 9.61% in net profit after deducting non-recurring gains and losses, totaling CNY 168,508,855.83 compared to CNY 186,425,000.91 in the previous year[23]. - The weighted average return on net assets was 9.49%, slightly down from 9.60% in the previous year[23]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,589,054,388.57, reflecting a growth of 20.27% from CNY 2,984,122,442.23 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company increased by 2.30%, reaching CNY 2,297,131,790.06 compared to CNY 2,245,540,256.32 at the end of the previous year[23]. - Accounts receivable increased by 343.03% compared to the beginning of the year, attributed to the credit policy and the recovery period not yet reached[46]. - Prepayments increased by 257.62% compared to the beginning of the year, primarily due to an increase in advance payments for goods[46]. - Other current assets surged by 6,597.64% compared to the beginning of the year, mainly due to the purchase of financial products[46]. Investment and Financing - The total investment amount during the reporting period was CNY 800 million, a 166.67% increase compared to CNY 300 million in the same period last year[81]. - The company has increased its long-term and short-term bank loans, resulting in a financing cash flow net increase of 1,016.15% to $358,193,341.61 from $32,091,980.00 in the previous year[66]. - The company has invested CNY 134,120,062.00 in the construction of the Tibetan medicine industrial base project, with an expected return of CNY 3 billion[81]. - The total amount of raised funds was CNY 48,421.00 million, with a net amount of CNY 45,120.01 million after deducting issuance costs[90]. Research and Development - The company is committed to enhancing its research and development capabilities, focusing on new drug development and the secondary development of classic Tibetan medicines[40]. - Three research outcomes related to the company's products were published in SCI journals, highlighting the effectiveness of its treatments[58]. - The company is actively involved in clinical research for Tibetan medicine in the treatment of COVID-19, achieving notable results[57]. Marketing and Sales - The company operates a self-managed marketing model with over 1,000 sales personnel across more than 30 provinces and regions[45]. - The company expanded its marketing channels, focusing on urban expansion and deepening county market development[54]. - The brand exposure during the O2O marketing activities reached 35 million, significantly enhancing brand visibility[54]. - The company launched new products, including pain relief patches and other integrated pain management products, with sales of some products increasing by over 100%[57]. Corporate Governance and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company completed the registration of 40,000 restricted stocks granted to one incentive object, increasing total shares from 530,180,979 to 530,220,979[127]. - A total of 774,296 restricted stocks were released from restrictions, accounting for 0.1460% of the company's total share capital[128]. - The total number of common shareholders at the end of the reporting period is 19,447[191]. - Gansu Qizheng Industrial Group Co., Ltd. holds 68.75% of the shares, totaling 364,546,473 common shares[196]. Risks and Challenges - The company has acknowledged potential risks in its future development statements, urging investors to be cautious[6]. - The company is facing potential profitability risks due to national policies affecting the pharmaceutical industry, including drug price reductions and restrictions on prescriptions[106]. - The COVID-19 pandemic has caused delays in clinical research for innovative drugs and secondary development products due to ongoing impacts, despite domestic control of the pandemic[111]. - The pandemic has negatively affected the company's clinical research, market promotion, logistics, and raw material costs, leading to a potential decline in terminal sales[112]. Environmental and Social Responsibility - The company has completed environmental impact assessments for its projects, with the latest approval received in October 2019[162]. - The company’s wastewater treatment facility operates 24 hours a day, meeting all monitoring standards[161]. - The company has been recognized for its environmental management systems, receiving ISO14001 certification in 2018[163]. - The company participated in poverty alleviation activities with a total funding of 610.34 million, including 606.5 million for improving educational resources in impoverished areas[168].

Financial Performance - The company's operating revenue for 2019 was CNY 1,402,676,904.18, representing a 15.62% increase compared to CNY 1,213,209,064.74 in 2018[25] - The net profit attributable to shareholders of the listed company was CNY 364,254,312.93, an increase of 14.27% from CNY 318,767,001.93 in the previous year[25] - The net profit after deducting non-recurring gains and losses was CNY 303,016,185.35, up 10.01% from CNY 275,434,568.69 in 2018[25] - The basic earnings per share for 2019 was CNY 0.6893, reflecting a 13.99% increase from CNY 0.6047 in 2018[25] - The total assets at the end of 2019 were CNY 2,984,122,442.23, a 29.03% increase from CNY 2,312,773,222.44 at the end of 2018[25] - The net cash flow from operating activities was CNY 405,951,978.30, a decrease of 18.71% compared to CNY 499,396,887.72 in 2018[25] - The weighted average return on equity was 17.18%, an increase from 16.44% in the previous year[25] - The company plans to distribute a cash dividend of CNY 3.5 per 10 shares, totaling CNY 185,577,034.65 based on 530,220,979 shares[7] Revenue Breakdown - Total revenue for the year reached ¥1,102,676,904.18, with a quarterly breakdown of ¥253,751,327.31 in Q1, ¥356,006,246.91 in Q2, ¥360,920,838.92 in Q3, and ¥431,998,491.04 in Q4[30] - Net profit attributable to shareholders was ¥364,249,312.93, with quarterly figures of ¥84,775,457.81 in Q1, ¥117,301,375.07 in Q2, ¥73,242,433.68 in Q3, and ¥88,935,046.37 in Q4[30] - The pharmaceutical segment generated ¥1,399,118,622.16, accounting for 99.75% of total revenue, with a year-on-year growth of 15.75%[108] - The medicated plaster segment's revenue was ¥1,049,815,287.54, with a gross profit margin of 87.44%[108] - The company’s domestic revenue was ¥1,400,433,327.18, which is 99.84% of total revenue, showing a growth of 15.64% year-on-year[107] Assets and Cash Flow - Cash and cash equivalents grew by 240.51% year-on-year, mainly due to the redemption of financial products and new short-term bank loans[57] - The company’s cash and cash equivalents increased to ¥1,346,750,864.34, representing 45.13% of total assets, up from 17.10% at the beginning of the year, a change of 28.03%[133] - The net increase in cash and cash equivalents was ¥951,239,340.74, reflecting a significant growth of 572.80%[128] - Net cash flow from investment activities surged by 495.56% to ¥377,852,231.45, attributed to reduced cash outflows for fixed asset purchases[128] - Operating cash inflow totaled ¥1,542,862,889.18, a 1.21% increase year-on-year[124] Research and Development - The R&D system emphasizes innovation in Tibetan medicine, with a focus on new drug development and enhancing quality standards, supported by national-level research centers[46] - Research and development expenses increased by 50.89% to ¥55,549,215.23, driven by higher employee compensation and increased investment in new product development[121] - The number of R&D personnel rose by 19.12% to 243, with R&D investment amounting to ¥63,562,587.23, representing 4.53% of operating revenue[123] - The company is committed to improving the quality and speed of R&D through collaboration with CROs and internal audits[181] - The company plans to increase research and development efforts to uncover the clinical value of traditional Tibetan medicine and meet unmet clinical needs[174] Market Strategy and Expansion - The company aims to accelerate market expansion through refined recruitment strategies and deeper penetration into grassroots healthcare channels[50] - The company is focusing on expanding its market presence in county-level hospitals and community medical markets as part of its channel strategy[79] - The company aims to become the leading brand in pain management, focusing on the musculoskeletal pain sector with a product mix that includes pain relief patches and ointments[63] - The company is actively exploring new business models in women's and children's health, as well as Tibetan medicine baths[81] - The strategic plan for 2019-2022 emphasizes "one axis, two wings, and three supports," aiming to enhance pain relief capabilities and expand into internet health marketing[171] Product Development and Innovation - The company has successfully launched multiple products, including the Iron Hammer Pain Relief Patch and the Qizheng® Glucosamine health products, expanding its product portfolio significantly[84] - The company is developing a "pain integrated solution" with core products like pain relief patches and Qingpeng ointment, aiming to establish a leading brand in pain recovery[81] - The Pain Relief Patch, Qingpeng Ointment, and Baimai Ointment ranked highly in the "Traditional Chinese Medicine Major Product Technology Competitiveness Report," showcasing their technological value[88] - The company has established wild nurturing and artificial planting bases for key Tibetan medicinal materials, contributing to sustainable resource development[73] - The company is collaborating with domestic and international research institutions to enhance its research and development capabilities in Tibetan medicine[69] Awards and Recognition - The company has been recognized with multiple awards, including the "2019 China OTC Brand" and "2018-2019 Highest Recommended Brand in Pain Relief Ointment"[66] - The brand value of Qizheng reached 2.342 billion yuan, and it was recognized as a top OTC brand in China[64] - The company received multiple awards, including the "2019 Excellent Brand of External Analgesics" at the China Pharmaceutical Brand Building Conference[99] - The company has received multiple awards, including recognition as a "Pioneer in High-Quality Development of Listed Companies" and "Best Investor Relations Board" by Securities Times[92][94] Challenges and Future Outlook - The COVID-19 pandemic has negatively impacted clinical research, market promotion, and logistics, leading to a potential decline in terminal sales[182] - The company anticipates challenges from national healthcare reforms and policies that may impact profit margins and the prescription of traditional Chinese medicine by Western doctors[177] - The company will actively monitor the pandemic situation and adjust its operational arrangements accordingly[182] - The company is exploring mergers and acquisitions to support its strategic development and ensure steady growth[176] - The company is focusing on digital marketing strategies and enhancing customer management to strengthen its market position in the pain relief sector[169]