蓝帆医疗股份有限公司 2021 年半年度报告全文 1 蓝帆医疗股份有限公司 BLUE SAIL MEDICAL CO.,LTD. （山东省淄博市齐鲁化学工业区清田路 21 号） | --- | --- | --- | |-------|----------------------|-------| | | | | | | | | | | | | | | 二〇二一年半年度报告 | | | | （未经审计） | | | | 股票代码： 002382 | | 二〇二一年八月 蓝帆医疗股份有限公司 2021 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人刘文静、主管会计工作负责人孙传志及会计机构负责人(会计主 管人员)白雪莲声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 公司已在本半年度报告中详细描述了公司面临的风险，敬请投资者予以关 注，详见本报告"管理层讨论与分析"等章节中关于公司面临风险和应对措施的 ...

蓝帆医疗股份有限公司 2021 年第一季度报告正文 1 蓝帆医疗股份有限公司 BLUE SAIL MEDICAL CO.,LTD. （山东省淄博市齐鲁化学工业区清田路 21 号） | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 二〇二一年第一季度报告 | | | | | | | （未经审计） | | | | | | | 股票代码： | | 二〇二一年四月 蓝帆医疗股份有限公司 2021 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，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。 公司负责人刘文静、主管会计工作负责人孙传志及会计机构负责人(会计主 管人员 ...

Financial Performance - The company reported a cash dividend of 4 RMB per 10 shares (including tax) for all shareholders, with no bonus shares issued[6]. - The company’s revenue for the reporting period was not specified in the provided content, but it is essential to refer to the financial report for detailed figures[20]. - The company's operating revenue for 2020 was ¥7,869,425,144.32, representing a 126.42% increase compared to 2019[23]. - The net profit attributable to shareholders for 2020 was ¥1,758,477,255.29, a significant increase of 258.66% from the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,741,826,559.80, up 268.23% year-over-year[23]. - The net cash flow from operating activities reached ¥3,671,535,996.49, marking a 369.03% increase compared to 2019[23]. - The basic earnings per share for 2020 was ¥1.82, a 256.86% increase from ¥0.51 in 2019[23]. - The total assets at the end of 2020 were ¥17,034,777,959.42, reflecting a growth of 28.48% from the previous year[26]. - The net assets attributable to shareholders at the end of 2020 were ¥9,817,206,393.25, an increase of 16.42% compared to 2019[26]. - The company recorded a profit before tax of ¥201,838.82 million, reflecting a year-on-year growth of 250.23%[75]. - The company achieved a revenue of ¥786,942.51 million in 2020, representing a year-on-year growth of 126.42%[75]. - The net profit attributable to shareholders reached ¥175,847.73 million, with a year-on-year increase of 258.66%[75]. Business Strategy and Expansion - The main business has shifted from health protection to include medical devices and nursing services[21]. - The company has been focusing on expanding its health protection, medical device, and nursing service sectors[21]. - The company aims to enhance its product pipeline through internal R&D and self-built initiatives over the next five years[37]. - The company is focusing on expanding its presence in the global medical device market, targeting a position among the top 50 companies in the industry[37]. - The company plans to invest 800 million yuan to develop Wuhan Bikaier into a leading global medical emergency kit enterprise, expanding its product range to include various medical and daily care products[43]. - The company plans to implement a brand marketing strategy over the next 3-5 years, aiming for dual growth in profits and market value[66]. - The company is actively pursuing market expansion through the introduction of new products and technologies in the medical device sector[114]. - The company is focusing on the development of new technologies and products in the medical and protective glove industry[200]. Product Development and Innovation - The company has segmented its business into three divisions: Protective Products, Cardiovascular Products, and Nursing Products, each focusing on specific medical device markets[38]. - The cardiovascular division's subsidiary, Jive Medical, is one of the top three players in the domestic cardiac stent market, with proprietary drug Biolimus A9TM and the first drug-eluting stent BioFreedomTM, significantly reducing post-operative antiplatelet medication duration from 1 year to 1 month[41]. - The company has developed a leading product portfolio in cardiovascular devices, including the first biodegradable polymer drug-eluting stent and the first drug-coated balloon[58]. - The company is expanding its product offerings in the cardiovascular field, including new balloon catheters and stents, with several products in clinical trials[129]. - The company is expanding its product offerings in the health protection field, focusing on medical gloves and other protective equipment[114]. - The company launched a new modified polymer NTH glove in response to the pandemic, which offers better performance than standard PVC gloves at a lower price than nitrile gloves[94]. - The company has obtained certifications for various medical protective equipment, including masks and gloves, in multiple regions[127]. Market Performance and Demand - The global demand for medical and protective products surged due to the COVID-19 pandemic, leading to significant increases in sales orders and prices, positively impacting the company's performance[44]. - The company expects strong global demand for protective products to continue for a considerable period[51]. - The sales volume of health protection products increased by 41.00% year-on-year, reaching 2.44 billion units in 2020[138]. - The sales volume of cardiovascular products decreased by 36.00% year-on-year, totaling 496,000 units[138]. - The company’s sales of protective products, including masks and gloves, saw significant growth due to the pandemic, enhancing brand influence in international markets[102]. - The company’s heart intervention device sales and implant volumes experienced a decline due to the pandemic, but a rebound is expected post-pandemic[105]. Acquisitions and Investments - The company’s controlling shareholder changed from Blue Sail Group to Blue Sail Investment[21]. - The acquisition of NVT AG, a leading TAVR production company, positions the company in a high-growth market for structural heart disease intervention devices[42]. - The company completed the acquisition of Wuhan Bikaier Rescue Supplies Co., Ltd. with a 100% equity stake on July 25, 2020[184]. - The company invested 172 million RMB in Nanjing Wofuman Medical Technology, acquiring a 16.38% stake to support the development of domestic OCT products[60]. - The company raised a total of 314.404 million CNY through convertible bonds to fund acquisitions and expand production capacity for health protection products[108]. Research and Development - The company has established eight global R&D and clinical registration platforms, employing over 1,000 R&D personnel, ensuring a 24-hour global R&D system[61]. - The company has over 410 patents, maintaining a leading position in its industry[61]. - The number of R&D personnel increased by 108.64% to 1,135, and R&D investment amounted to ¥346,689,295.87, which is 4.41% of operating revenue[160]. - The company is focused on enhancing its research and development capabilities to innovate new medical products[114]. Regulatory Compliance and Certifications - The company has obtained various certifications for its medical gloves, including FDA registration in the United States and CE certification in the European Union[119]. - The total number of medical device registration certificates reflects the company's commitment to compliance and quality assurance in its product offerings[114]. - The number of medical device registration certificates at the end of the reporting period reached 688, up from 557 at the end of last year, representing an increase of 23.5%[114]. - During the reporting period, 156 new medical device registration certificates were added, while 25 certificates became invalid[114]. Operational Efficiency - The company has established a comprehensive medical device business platform that integrates low, medium, and high-value consumables[54]. - The company has established online flagship stores on major e-commerce platforms, steadily increasing sales through social media collaborations[64]. - The company has established 9 overseas warehouses in 8 countries and regions to enhance supply chain efficiency and support global demand for medical protective products[102]. - The company has incorporated several subsidiaries into its consolidation scope in 2020, enhancing its operational capabilities[142].

蓝帆医疗股份有限公司 2020 年第三季度报告全文 蓝帆医疗股份有限公司 BLUE SAIL MEDICAL CO.,LTD. （山东省淄博市齐鲁化学工业区清田路 21 号） | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 二〇二〇年第三季度报告 | | | | | | | （未经审计） | | | | | | | 股票代码： 002382 | | 二〇二〇年十月 1 蓝帆医疗股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，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。 公司负责人刘文静、主管会计工作负责人孙传志及会计机构负责人(会计主 管人员)白雪莲声明： ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,284,341,266.38, representing a 35.45% increase compared to CNY 1,686,516,202.10 in the same period last year[18]. - The net profit attributable to shareholders of the listed company reached CNY 621,358,904.97, a significant increase of 164.85% from CNY 234,612,227.06 in the previous year[18]. - The net cash flow from operating activities was CNY 950,489,940.10, up 181.31% from CNY 337,883,502.78 in the same period last year[18]. - Basic earnings per share increased to CNY 0.64, a rise of 166.67% compared to CNY 0.24 in the previous year[18]. - Total assets at the end of the reporting period were CNY 17,666,922,910.59, reflecting a 33.24% increase from CNY 13,259,178,843.55 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company were CNY 9,457,075,259.60, which is a 12.15% increase from CNY 8,432,305,874.79 at the end of the previous year[18]. - The weighted average return on net assets was 7.11%, an increase of 4.14% compared to 2.97% in the previous year[18]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching CNY 611,888,483.27, up 179.14% from CNY 219,202,161.43 in the previous year[18]. Strategic Acquisitions and Partnerships - The company acquired NVT AG in June 2020, entering the structural heart disease market, with its core product AllegraTM already CE certified[31]. - The company acquired Wuhan Bikaier in July 2020, which is the sole global supplier of Tesla's in-vehicle first aid kits, enhancing its health protection product offerings and forming strategic partnerships with major automotive brands[37]. - The company has established long-term strategic partnerships with major automotive brands for its emergency rescue products, enhancing its market presence[32]. - The acquisition of 100% equity in Wuhan Bikaier is expected to strengthen the company's supply chain integration and enhance its competitive edge in the low-value consumables market[43]. Product Development and Market Expansion - The company plans to expand its product line in the protective division to include emergency kits and various medical care products[28]. - The company is actively developing new products in the cardiovascular sector, including transcatheter aortic valve replacement and mitral valve repair[30]. - The company aims to maintain a diversified product portfolio to mitigate risks and support its long-term growth strategy[26]. - The company expects net profits from medical and protective products to significantly increase in the second half of 2020 due to rising sales prices and demand[33]. - The company launched a project to produce 2 billion medical masks annually and 60 million surgical gloves per year, enhancing its health protection product line[49]. - The company established a production line for 2.5 billion PVC health protection gloves, solidifying its position as a global leader in this segment[49]. Research and Development - The company has over 420 patents in coating technology and medical protective gloves, maintaining a leading position in product technology within the industry[41]. - The company has set up R&D teams in multiple countries, including the US, Singapore, Switzerland, and Germany, with over 500 R&D personnel, enhancing its innovation capabilities and product development[41]. - The Shanghai R&D center has been established and upgraded to a global innovation center, supporting the company's sustainable development and technological advancements[41]. - The company has developed the world's first non-coated drug-eluting stent, BioFreedomTM, which reduces the duration of postoperative antiplatelet therapy from one year to one month, benefiting over 5 million patients[54]. - The company has applied for over 350 patents in the cardiovascular field, focusing on advanced technologies such as cobalt-chromium alloy drug-eluting stents and various balloon catheter products[56]. Market Trends and Challenges - The global market demand for medical and protective gloves has been steadily increasing, with a single-digit growth rate, but surged due to the COVID-19 pandemic, leading to a significant supply shortage[28]. - The company faces risks from rising raw material prices, particularly for medical gloves, which could adversely affect profitability if prices continue to increase[121]. - The COVID-19 pandemic has led to a surge in demand for medical protective supplies, with the company ensuring a stable supply chain for cardiovascular products despite limited impact on operations[127]. - The overall market for medical supplies remains competitive, with price volatility affecting profit margins[149]. Financial Management and Investments - The company raised a total of RMB 314.404 million through the issuance of convertible bonds on May 28, 2020, to fund acquisitions and projects, including the 100% acquisition of NVT AG and the construction of new health protection glove production lines with an annual capacity of 2 billion units[62]. - The company reported a significant increase in raw material procurement costs, with a total of 5,563.54 million CNY, representing a 10.95% increase compared to the previous year[147]. - The company has implemented strict management of bank accounts and fund allocation, ensuring compliance with approval procedures[103]. - The company plans to continue its financial derivatives trading to mitigate risks associated with exchange rate and interest rate fluctuations, aiming to protect shareholder interests[104]. Corporate Governance and Compliance - The company has committed to enhancing management practices to ensure compliance with environmental standards[144]. - The company has established long-term commitments to avoid conflicts of interest and protect the rights of other shareholders[134]. - The company will ensure that any related transactions are conducted at fair market prices and comply with relevant laws and regulations[134]. - The company has implemented corrective measures to ensure compliance with environmental regulations, including a fine of 100,000 yuan for issues related to waste gas treatment facilities[143]. Social Responsibility and Community Engagement - The company donated a total of 750 million medical gloves to support frontline efforts against COVID-19 across 15 countries and regions, including the United States and Australia[67]. - The company provided assistance to 43 underprivileged employees and their families, totaling 30,100 yuan in cash and goods[176]. - The company participated in online and offline recruitment activities, providing nearly 1,000 job opportunities to local residents[176]. - The company helped 1,000 registered impoverished individuals achieve employment[177].

蓝帆医疗股份有限公司 2020 年第一季度报告全文 蓝帆医疗股份有限公司 BLUE SAIL MEDICAL CO.,LTD. （山东省淄博市齐鲁化学工业区清田路 21 号） | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 二〇二〇年第一季度报告 | | | | | | | | | （未经审计） | | | | | | | | | 股票代码： 002382 | | 二〇二〇年四月 1 蓝帆医疗股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 除下列董事外，其他董事 ...

[Important Notes, Table of Contents, and Definitions](index=2&type=section&id=Important%20Notes%2C%20Table%20of%20Contents%2C%20and%20Definitions) [Company Profile and Key Financial Indicators](index=5&type=section&id=Company%20Profile%20and%20Key%20Financial%20Indicators) In 2019, the company achieved significant performance growth, with operating revenue increasing by 31.00% and net profit attributable to shareholders of the listed company growing by 41.41%, primarily due to the full-year consolidation of the cardiovascular business (CBCH II and CBCH V) since June 2018, with total assets steadily increasing to **13.26 billion Yuan** [Key Accounting Data and Financial Indicators](index=6&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company's core financial indicators showed strong performance, with operating revenue reaching **3.48 billion Yuan** (up 31.00%), net profit attributable to parent company shareholders reaching **490 million Yuan** (up 41.41%), and net cash flow from operating activities at **783 million Yuan** (up 20.55%), indicating robust operational quality, while total assets and net assets grew by 4.42% and 8.13% respectively Comparison of Key Financial Data 2017-2019 | Indicator | 2019 (Yuan) | 2018 (Yuan) | YoY Change | 2017 (Yuan) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 3,475,614,154.78 | 2,653,120,079.16 | 31.00% | 1,575,945,309.43 | | Net Profit Attributable to Parent Company Shareholders | 490,295,086.01 | 346,714,031.16 | 41.41% | 200,864,341.90 | | Net Cash Flow from Operating Activities | 782,789,096.79 | 649,366,180.61 | 20.55% | 227,567,253.64 | | Basic Earnings Per Share (Yuan/share) | 0.51 | 0.47 | 8.51% | 0.41 | | Total Assets | 13,259,178,843.55 | 12,698,487,690.66 | 4.42% | 1,837,037,124.62 | | Net Assets Attributable to Parent Company Shareholders | 8,432,305,874.79 | 7,798,373,748.98 | 8.13% | 1,426,156,427.31 | [Quarterly Key Financial Indicators](index=7&type=section&id=Quarterly%20Key%20Financial%20Indicators) The company's 2019 quarterly performance remained stable, with operating revenue and net profit attributable to parent company shareholders peaking in the second and third quarters, where net profit exceeded **138 million Yuan** in both periods, indicating strong mid-year business momentum, and operating cash flow was particularly strong, exceeding **240 million Yuan** in both quarters 2019 Quarterly Key Financial Indicators (Unit: Yuan) | Indicator | Q1 | Q2 | Q3 | Q4 | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 835,771,436.14 | 850,744,765.96 | 912,021,631.22 | 877,076,321.46 | | Net Profit Attributable to Parent Company Shareholders | 96,050,438.13 | 138,561,788.93 | 140,646,864.15 | 115,035,994.80 | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-recurring Gains/Losses) | 80,837,989.31 | 138,364,172.12 | 127,076,204.04 | 126,751,255.99 | | Net Cash Flow from Operating Activities | 94,001,970.05 | 243,881,532.73 | 247,698,700.58 | 197,206,893.43 | [Non-recurring Gains and Losses Items and Amounts](index=7&type=section&id=Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) In 2019, the company's total non-recurring gains and losses amounted to **17.27 million Yuan**, primarily from **37.60 million Yuan** in government grants, partially offset by losses on disposal of non-current assets (**8.92 million Yuan**) and enterprise restructuring expenses (**3.13 million Yuan**), marking a positive shift from a negative balance in 2018 and positively impacting net profit 2019 Non-recurring Gains and Losses Items and Amounts (Unit: Yuan) | Item | 2019 Amount | 2018 Amount | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -8,919,301.30 | -7,105,808.82 | | Government Grants Included in Current Profit/Loss | 37,601,513.62 | 8,775,504.32 | | Enterprise Restructuring Expenses | -3,127,277.96 | -1,925,079.75 | | Other Non-operating Income and Expenses | -2,877,128.45 | -1,379,115.44 | | **Total** | **17,265,464.55** | **-41,068,548.74** | [Company Business Overview](index=9&type=section&id=Company%20Business%20Overview) The company operates through two major segments: the Protection Business Unit, a global leader in PVC health protection gloves expanding into nitrile and TPE gloves, and the Cardiovascular Business Unit (via Biosensors International), the world's fourth-largest cardiac stent company and a top-three player in China, strategically combining low-to-mid value and high-value consumables to create a complementary and risk-resilient industrial layout, while continuously expanding into heart failure and structural heart disease through R&D and M&A [Main Businesses](index=9&type=section&id=Main%20Businesses) The company's main businesses are divided into two major units: the Protection Business Unit, a global leader primarily producing and selling health protection gloves (PVC and nitrile), and the Cardiovascular Business Unit, which focuses on R&D, production, and sales of cardiac stents and interventional cardiac surgical devices, ranking as the world's fourth-largest cardiac stent company, having successfully entered three high-growth tracks—coronary intervention, heart failure, and structural heart disease—achieving industrial upgrading - The company's business is divided into two major segments: the Protection Business Unit and the Cardiovascular Business Unit[38](index=38&type=chunk) - The Protection Business Unit is the global leader in PVC health protection gloves, holding the **number one market share worldwide**[41](index=41&type=chunk) - The Cardiovascular Business Unit (Biosensors International) is the **fourth-largest cardiac stent company globally** and ranks among the **top three in the Chinese market**[42](index=42&type=chunk) [Significant Changes in Major Assets](index=10&type=section&id=Significant%20Changes%20in%20Major%20Assets) During the reporting period, the company's equity investments, a major asset, significantly changed, increasing by 234.40% from the beginning to the end of the period, reaching **111 million Yuan**, primarily due to new equity investments in Suzhou Tongxin Medical Device Co., Ltd. and recognized investment income from associates, while overseas assets CBCH II and its subsidiaries accounted for 30.47% of the company's net assets with no significant impairment risk Explanation of Significant Changes in Major Assets | Major Asset | Explanation of Significant Change | | :--- | :--- | | Equity Investments | Year-end balance of **111 million Yuan**, an increase of 234.40% from the beginning of the period, mainly due to new equity investments in Suzhou Tongxin Medical Device Co., Ltd. and recognized investment income from associates | - Major overseas assets of CBCH II and its subsidiaries amount to **3.50 billion Yuan**, accounting for **30.47% of the company's net assets**, with no significant impairment risk[48](index=48&type=chunk) [Analysis of Core Competencies](index=10&type=section&id=Analysis%20of%20Core%20Competencies) The company's core competencies include leading positions in both protection and cardiovascular sectors, effective risk hedging through a 'low-to-mid value + high-value consumables' industrial layout, superior cardiovascular product portfolio and technological advantages such as the globally leading polymer-free drug-coated stent BioFreedomTM, global R&D capabilities and sales networks with R&D centers in the US, Singapore, and Switzerland, and a decentralized business partner mechanism and 'open, inclusive, standardized' corporate culture driving sustainable development - The company holds a **leading industry position** in both the protection sector (global **number one in PVC gloves**) and the cardiovascular sector (global **fourth in cardiac stents**)[51](index=51&type=chunk)[52](index=52&type=chunk) - The industrial layout of 'low-to-mid value consumables + high-value consumables' creates a complementary business model, effectively mitigating cyclical and operational risks[53](index=53&type=chunk) - Possessing globally leading cardiovascular product technology, such as the BioFreedomTM stent, which can reduce post-operative antiplatelet drug duration from 12 months to **1 month**[54](index=54&type=chunk) - With R&D teams in the US, Singapore, Switzerland, Shanghai, and Shandong, the company holds **over 320 patents**, establishing a global R&D and sales network[55](index=55&type=chunk)[58](index=58&type=chunk) [Management Discussion and Analysis](index=13&type=section&id=Management%20Discussion%20and%20Analysis) In 2019, the company achieved **3.48 billion Yuan** in operating revenue (up 31.00%) and **490 million Yuan** in net profit attributable to parent company shareholders (up 41.41%), primarily driven by the cardiovascular business, which accounted for 49.99% of revenue and grew by 71.55%, while R&D investment significantly increased to **297 million Yuan**, representing 8.54% of revenue, and the company is advancing acquisitions of NVT (TAVR technology) and Wuhan Beikeer (first-aid kits) through convertible bond issuance to enrich its high-value and low-to-mid value consumables product lines, with a 2020 revenue target of **3.94 billion Yuan**, facing key risks such as raw material price fluctuations, centralized procurement policies, and M&A integration [Overview of Operating Performance](index=13&type=section&id=Overview%20of%20Operating%20Performance) In 2019, the company achieved **3.48 billion Yuan** in operating revenue (up 31.00%) and **490 million Yuan** in net profit attributable to parent company shareholders (up 41.41%), with the cardiovascular business subsidiary CBCH II achieving **462 million Yuan** in non-recurring net profit, fulfilling its **450 million Yuan** annual performance commitment, while R&D investment reached **297 million Yuan**, with R&D personnel accounting for 13.25%, and health protection gloves generated **1.68 billion Yuan** (48.28% of revenue) and cardiac interventional devices generated **1.74 billion Yuan** (49.99% of revenue) 2019 Key Operating Data | Indicator | Amount (Million Yuan) | YoY Growth | | :--- | :--- | :--- | | Operating Revenue | 347,561.42 | 31.00% | | Operating Profit | 56,827.12 | 56.24% | | Net Profit Attributable to Parent Company Shareholders | 49,029.51 | 41.41% | | Net Cash Flow from Operating Activities | 78,278.91 | 20.55% | - The target company of the major asset restructuring, CBCH II, achieved **462 million Yuan** in non-recurring net profit in 2019, fulfilling its **450 million Yuan** performance commitment[67](index=67&type=chunk) - The company's R&D investment was **297 million Yuan**, holding **over 320 patent technologies**, with **544 R&D personnel** accounting for **13.25%** of the total workforce[67](index=67&type=chunk) [Analysis of Main Business Operations](index=19&type=section&id=Analysis%20of%20Main%20Business%20Operations) In 2019, the company's main business structure significantly shifted, with cardiac interventional device revenue reaching **1.74 billion Yuan**, growing by 71.55% and increasing its revenue share to 49.99%, surpassing health protection glove business (**1.68 billion Yuan**, 48.28% share) for the first time, while the cardiac interventional device business boasted a high gross margin of **77.76%**, serving as the primary profit driver, and various expenses significantly increased due to business expansion, especially the full-year consolidation of the cardiovascular business, with financial expenses seeing the largest increase at 175.77% 2019 Operating Revenue Composition (by Industry) | Industry | Operating Revenue (Yuan) | Share of Operating Revenue | YoY Change | | :--- | :--- | :--- | :--- | | Health Protection Gloves | 1,678,156,621.10 | 48.28% | 4.95% | | Cardiac Interventional Devices | 1,737,336,133.26 | 49.99% | 71.55% | | Other | 60,121,400.42 | 1.73% | 45.06% | 2019 Performance of Main Business Segments | Industry/Product Segment | Operating Revenue (Yuan) | Operating Cost (Yuan) | Gross Margin | YoY Change in Operating Revenue | | :--- | :--- | :--- | :--- | :--- | | Health Protection Gloves | 1,678,156,621.10 | 1,421,462,543.11 | 15.30% | 4.95% | | Cardiac Interventional Devices | 1,737,336,133.26 | 386,346,967.22 | 77.76% | 71.55% | 2019 Major Expense Changes | Expense Item | 2019 (Yuan) | 2018 (Yuan) | YoY Change | Main Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 561,594,327.71 | 359,530,079.21 | 56.20% | Increase due to consolidation of CBCH II and CBCH V | | Administrative Expenses | 208,029,399.64 | 161,928,612.49 | 28.47% | Increase due to consolidation of CBCH II and CBCH V | | Financial Expenses | 77,777,402.72 | 28,203,542.33 | 175.77% | Increase due to consolidation of CBCH II and CBCH V and decrease in exchange gains | | R&D Expenses | 197,501,747.17 | 133,471,033.73 | 47.97% | Increase due to consolidation of CBCH II and CBCH V | 2019 R&D Investment | Indicator | 2019 | 2018 | Change Ratio | | :--- | :--- | :--- | :--- | | Number of R&D Personnel (persons) | 544 | 465 | 16.99% | | R&D Investment Amount (Yuan) | 296,879,897.90 | 182,909,598.33 | 62.31% | | R&D Investment as % of Operating Revenue | 8.54% | 6.89% | 1.65% | 2019 Key Cash Flow Statement Items | Item | 2019 (Yuan) | 2018 (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 782,789,096.79 | 649,366,180.61 | 20.55% | | Net Cash Flow from Investing Activities | -388,310,788.99 | -1,870,144,979.59 | 79.24% | | Net Cash Flow from Financing Activities | 28,183,193.95 | 1,627,943,569.32 | -98.27% | [Analysis of Assets and Liabilities](index=25&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) As of the end of 2019, the company's total assets were **13.26 billion Yuan**, with total liabilities at **4.80 billion Yuan**, maintaining a stable asset-liability structure, while cash and cash equivalents amounted to **2.24 billion Yuan**, and short-term and long-term borrowings totaled approximately **2.74 billion Yuan**, notably, **1.61 billion Yuan** of assets were restricted due to bank borrowing requirements, primarily comprising **1.11 billion Yuan** in cash and cash equivalents, along with certain fixed and intangible assets Changes in Key Balance Sheet Items | Item | 2019 Year-end (Yuan) | 2019 Year-start (Yuan) | Percentage of Total Assets (Year-end) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 2,243,195,719.39 | 1,990,298,078.76 | 16.92% | | Long-term Equity Investments | 110,723,241.03 | 33,110,574.88 | 0.84% | | Short-term Borrowings | 796,770,083.03 | 149,288,376.07 | 6.01% | | Long-term Borrowings | 1,944,154,312.30 | 2,435,817,142.47 | 14.66% | - As of the end of the reporting period, **1.61 billion Yuan** of the company's assets were restricted, primarily as collateral for bank borrowings, including **1.11 billion Yuan** in cash and cash equivalents, **331 million Yuan** in fixed assets, and **129 million Yuan** in intangible assets[128](index=128&type=chunk) [Outlook on Company's Future Development](index=31&type=section&id=Outlook%20on%20Company%27s%20Future%20Development) The company plans to align with healthcare industry trends, continuously upgrade its protection business, expand its cardiovascular product lines, and opportunistically enter new areas like surgery and orthopedics, targeting **3.94 billion Yuan** in revenue for 2020, while facing key risks including raw material price fluctuations, high-value consumables centralized procurement policies, lower-than-expected M&A integration, trade friction, and the potential impact of the COVID-19 pandemic on its cardiovascular business - The company's development strategy is to build a multi-business segment layout primarily focused on low, mid, and high-value consumables, achieving complementary business models and risk hedging[157](index=157&type=chunk) - The 2020 operating target is **3.94 billion Yuan** in operating revenue, with plans to produce **19 billion units** of health protection gloves and **900,000 units** of cardiac interventional devices[162](index=162&type=chunk)[164](index=164&type=chunk) - Key risks faced by the company include: raw material price fluctuations, centralized procurement policies for high-value consumables, previous M&A integration and unfulfilled performance commitments, operational risks of new targets, safety production and environmental risks, trade friction, and the impact of the COVID-19 pandemic[174](index=174&type=chunk)[175](index=175&type=chunk)[176](index=176&type=chunk)[178](index=178&type=chunk)[179](index=179&type=chunk)[180](index=180&type=chunk) [Significant Matters](index=37&type=section&id=Significant%20Matters) During the reporting period, the company proposed a profit distribution plan of **1.00 Yuan** cash dividend (tax inclusive) per 10 shares, while the major asset restructuring target CBCH II fulfilled its 2019 performance commitment, achieving **462 million Yuan** in net profit, exceeding the **450 million Yuan** target, and the company initiated a convertible corporate bond issuance plan of up to **3.14 billion Yuan** to acquire Swiss TAVR company NVT AG and Wuhan Beikeer, among other projects, to further strengthen its presence in high-value and low-to-mid value consumables, additionally, the company and its subsidiaries received administrative penalties for environmental and labor issues, but all have completed rectification [Profit Distribution and Capital Reserve to Share Capital Conversion](index=37&type=section&id=Profit%20Distribution%20and%20Capital%20Reserve%20to%20Share%20Capital%20Conversion) The company's 2019 profit distribution plan proposes a cash dividend of **1.00 Yuan** (tax inclusive) per 10 shares to all shareholders, based on a total share capital of 964,031,086 shares, totaling **96.40 million Yuan** in cash dividends, representing 19.66% of the 2019 net profit attributable to parent company shareholders, with the company consistently distributing cash dividends over the past three years 2019 Profit Distribution Plan | Item | Amount/Quantity | | :--- | :--- | | Cash Dividend Per 10 Shares (Yuan) (Tax Inclusive) | 1.00 | | Total Cash Dividend Amount (Yuan) (Tax Inclusive) | 96,403,108.60 | | Total Cash Dividend as % of Net Profit Attributable to Parent Company Shareholders | 19.66% | [Fulfillment of Commitments](index=38&type=section&id=Fulfillment%20of%20Commitments) During the reporting period, the company and related parties strictly fulfilled all commitments, notably, the performance commitment of CBCH II, the target company of the major asset restructuring, was met, with actual net profit reaching **462 million Yuan** in 2019, exceeding the **450 million Yuan** commitment, and all share lock-up commitments were also fulfilled on schedule CBCH II Performance Commitment Fulfillment | Commitment Year | Forecasted Performance for the Period (Million Yuan) | Actual Performance for the Period (Million Yuan) | Fulfillment Status | | :--- | :--- | :--- | :--- | | 2019 | 45,000 | 46,192.89 | Fulfilled | - According to the audit report, CBCH II achieved **462 million Yuan** in non-recurring net profit in 2019, with a fulfillment rate of **103%**, thereby honoring its performance commitment[216](index=216&type=chunk) [Significant Related Party Transactions](index=52&type=section&id=Significant%20Related%20Party%20Transactions) The company's 2019 ordinary related party transactions primarily involved purchasing raw materials, electricity, and steam from related parties, with the largest amounts, totaling **210 million Yuan**, for paste resin and plasticizers procured from Shandong Langhui Petrochemical Co., Ltd., an entity controlled by the actual controller's close relatives, additionally, the company plans to acquire 100% equity of Wuhan Beikeer through convertible bond issuance, which constitutes a related party transaction, and all related party transactions were within approved limits and underwent necessary review procedures 2019 Key Related Party Purchases | Related Party | Related Transaction Content | Transaction Amount (Million Yuan) | Percentage of Similar Transactions | | :--- | :--- | :--- | :--- | | Shandong Langhui Petrochemical Co., Ltd. | Plasticizer | 15,435.72 | 17.02% | | Shandong Langhui Petrochemical Co., Ltd. | Paste Resin | 5,524.26 | 6.09% | | Zibo Huiheng Chemical Co., Ltd. | Steam | 4,112.42 | 60.48% | | Zibo Huiheng Chemical Co., Ltd. | Electricity | 3,523.39 | 55.19% | - The company plans to acquire **100% equity** of Wuhan Beikeer through public issuance of convertible corporate bonds, which involves a related party transaction and has been approved by the Board of Directors and the General Meeting of Shareholders[277](index=277&type=chunk) [Social Responsibility](index=63&type=section&id=Social%20Responsibility) The company actively fulfills its social responsibilities, investing in environmental protection, employee rights, and public welfare, specifically, it increased investment in comprehensive environmental governance to ensure pollutant discharge compliance, established comprehensive employment and training systems for employees, supported professional education for clinicians, backed the 'Aiyou Tongxin' project for impoverished children with congenital heart disease, actively participated in poverty alleviation and disaster relief donations, and repeatedly donated medical protective supplies domestically and internationally following the COVID-19 outbreak in early 2020 - The company and its subsidiaries, Blue Sail Medical and Blue Sail New Material, are designated key pollutant discharge units, with boiler exhaust gas as the main pollutant, all of which met discharge standards during the reporting period[326](index=326&type=chunk)[327](index=327&type=chunk) - The company actively participates in social welfare, including supporting the 'Aiyou Tongxin' project with **200,000 Yuan** and donating **300,000 Yuan** after Typhoon Lekima[312](index=312&type=chunk)[321](index=321&type=chunk) - Following the outbreak of the COVID-19 pandemic in early 2020, the company repeatedly donated medical-grade protective gloves and other anti-epidemic supplies to Wuhan, South Korea, Japan, Italy, and other regions[316](index=316&type=chunk) [Share Changes and Shareholder Information](index=72&type=section&id=Share%20Changes%20and%20Shareholder%20Information) During the reporting period, the company's total share capital remained unchanged at 964,031,086 shares, however, restricted shares decreased by **155 million shares** due to the unlocking of restricted stock and the lifting of lock-up periods for private placement shares, with unrestricted shares increasing accordingly, raising the float ratio from 50.39% to 66.43%, and as of the end of the period, Zibo Blue Sail Investment Co., Ltd. was the controlling shareholder with a 34.59% stake, and Mr. Li Zhenping was the actual controller, with the controlling shareholder and Beijing CITIC Investment Center (Limited Partnership) being the main holders among the top ten shareholders [Share Change Status](index=72&type=section&id=Share%20Change%20Status) In 2019, the company's total share capital remained unchanged, but its share structure was adjusted, with restricted shares decreasing from **478 million shares** to **324 million shares**, and their proportion of total share capital falling from 49.61% to 33.57%, due to the unlocking of **3.57 million restricted shares** from the incentive plan and the lifting of lock-up periods for **152 million shares** issued in the major asset restructuring Share Change Status (Unit: Shares) | Share Class | Before Change | After Change | Change Amount | | :--- | :--- | :--- | :--- | | Restricted Shares | 478,269,197 (49.61%) | 323,665,748 (33.57%) | -154,603,449 | | Unrestricted Shares | 485,761,889 (50.39%) | 640,365,338 (66.43%) | +154,603,449 | | **Total Shares** | **964,031,086** | **964,031,086** | **0** | - Key reasons for share changes include: 1) Unlocking of **3.57 million restricted shares** from the fourth phase of the restricted stock incentive plan; 2) Lifting of lock-up for **53.45 million shares** held by Beijing CITIC, a counterparty in the major asset restructuring; 3) Lifting of lock-up for **98.87 million shares** held by subscribers of supporting funds raised for the major asset restructuring[347](index=347&type=chunk)[348](index=348&type=chunk)[351](index=351&type=chunk) [Shareholders and Actual Controller Information](index=75&type=section&id=Shareholders%20and%20Actual%20Controller%20Information) As of the end of 2019, the company had 21,934 shareholders, with Zibo Blue Sail Investment Co., Ltd. as the controlling shareholder, holding 34.59% of shares, and Mr. Li Zhenping as the actual controller, while Beijing CITIC Investment Center (Limited Partnership) was the second-largest shareholder with a 19.53% stake, indicating a relatively concentrated equity structure among the top ten shareholders Top Five Shareholders' Holdings at Report End | Shareholder Name | Shareholder Nature | Holding Percentage | Shares Held at Report End | | :--- | :--- | :--- | :--- | | Zibo Blue Sail Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 34.59% | 333,419,243 | | Beijing CITIC Investment Center (Limited Partnership) | Domestic Non-State-Owned Legal Person | 19.53% | 188,287,943 | | Zhongxuan Investment Co., Ltd. | Overseas Legal Person | 6.11% | 58,858,000 | | Zhongtai Securities Asset Management - Securities Industry Support Private Enterprises Series | Domestic Non-State-Owned Legal Person | 5.13% | 49,500,000 | | Gongqingcheng Shengheng Investment Management Co., Ltd. - Shengheng Puhui Phase I | Domestic Non-State-Owned Legal Person | 1.84% | 17,707,212 | - The company's controlling shareholder is Zibo Blue Sail Investment Co., Ltd., and the actual controller is Mr. Li Zhenping[372](index=372&type=chunk)[373](index=373&type=chunk)[376](index=376&type=chunk) [Preferred Shares Information](index=84&type=section&id=Preferred%20Shares%20Information) - During the reporting period, the company had no preferred shares[393](index=393&type=chunk) [Convertible Corporate Bonds Information](index=85&type=section&id=Convertible%20Corporate%20Bonds%20Information) - During the reporting period, the company had no convertible corporate bonds[397](index=397&type=chunk) [Directors, Supervisors, Senior Management, and Employees](index=86&type=section&id=Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Employees) During the reporting period, the company's senior management team saw changes, with Vice President Mr. Gu Leimin resigning for personal reasons, and in early 2020, President Mr. Li Bingrong resigned due to retirement age, while the total number of employees reached **4,106**, with production and technical personnel accounting for over 80%, and the company established performance-linked compensation policies and implemented systematic talent training programs through 'Blue Sail Academy' [Changes in Directors, Supervisors, and Senior Management](index=87&type=section&id=Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During and after the reporting period, significant changes occurred in the company's senior management team, with Vice President Mr. Gu Leimin resigning for personal reasons on April 12, 2019, and former Director and President Mr. Li Bingrong voluntarily resigning on January 10, 2020, upon reaching the retirement age of 70 Senior Management Changes | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Li Bingrong | Former Director, President | Resignation | January 10, 2020 | Voluntary resignation due to reaching retirement age of 70 | | Gu Leimin | Former Vice President | Resignation | April 12, 2019 | Voluntary resignation for personal reasons | [Employee Information](index=99&type=section&id=Employee%20Information) As of the end of the reporting period, the company had a total of **4,106 employees**, with production personnel numbering **2,366** and technical personnel **1,072**, together accounting for **83.7%** of the total workforce, and over 40% of employees held college degrees or higher, while the company implements performance-linked compensation policies and develops annual training plans through its internal 'Blue Sail Academy' to support employee development Employee Count and Professional Composition | Category | Number of People | | :--- | :--- | | **Total Employees** | **4,106** | | **Professional Composition:** | | | Production Personnel | 2,366 | | Sales Personnel | 325 | | Technical Personnel | 1,072 | | Financial Personnel | 59 | | Administrative Personnel | 284 | | **Education Level:** | | | Master's Degree and Above | 118 | | Bachelor's Degree | 613 | | College Degree | 965 | | Secondary Vocational/High School | 1,010 | | Below High School | 1,400 | [Corporate Governance](index=101&type=section&id=Corporate%20Governance) The company has established a sound corporate governance structure in strict accordance with relevant laws and regulations, maintaining independence from its controlling shareholder in business, personnel, assets, organization, and finance, and during the reporting period, it held 4 shareholder meetings, 9 board meetings, and 8 supervisory board meetings, ensuring legal and compliant decision-making processes, with the audit, strategy, remuneration and appraisal, and nomination committees under the Board of Directors all effectively performing their duties, and the company's internal control self-assessment concluded as effective, supported by an unqualified internal control attestation report from the accounting firm [Basic Corporate Governance Status](index=101&type=section&id=Basic%20Corporate%20Governance%20Status) During the reporting period, the company's actual corporate governance status complied with the relevant regulatory requirements of the China Securities Regulatory Commission, with standardized operations in areas such as shareholders and general meetings, relationship between controlling shareholder and the company, directors and the board, supervisors and the supervisory board, information disclosure, internal audit, and investor relations management, ensuring the company's independence and compliance of decisions - The company operates strictly in accordance with regulatory requirements, with a governance structure that complies with regulatory demands and no significant discrepancies[464](index=464&type=chunk)[474](index=474&type=chunk) - The company is fully independent from its controlling shareholder in terms of business, personnel, assets, organization, and finance, possessing complete autonomous operational capabilities[466](index=466&type=chunk)[475](index=475&type=chunk) [Internal Control Evaluation Report](index=106&type=section&id=Internal%20Control%20Evaluation%20Report) The company's Board of Directors believes that as of December 31, 2019, the company maintained effective internal controls over financial reporting in all material aspects in accordance with the enterprise internal control standards and relevant regulations, with no significant deficiencies found in internal controls over financial or non-financial reporting, and the accounting firm issued an unqualified internal control attestation report - No significant deficiencies in internal controls were identified during the reporting period[497](index=497&type=chunk) - The accounting firm issued an unqualified internal control attestation report, consistent with the Board of Directors' self-assessment report[503](index=503&type=chunk) [Corporate Bonds Information](index=109&type=section&id=Corporate%20Bonds%20Information) - The company has no publicly issued corporate bonds listed on a stock exchange that were either unexpired or not fully redeemed as of the approval date of the annual report[507](index=507&type=chunk) [Financial Report](index=110&type=section&id=Financial%20Report) The company's 2019 financial report was audited by Daxin Certified Public Accountants, which issued an unqualified audit opinion, highlighting two key audit matters: the fairness of related party purchases and the impairment test of goodwill arising from the acquisition of CBCH II and CBCH V, and this year, the company began implementing new financial instrument standards, adjusting relevant items in the opening financial statements, with segment information indicating that the cardiovascular products segment contributed the vast majority of profits [Audit Report](index=110&type=section&id=Audit%20Report) Daxin Certified Public Accountants (Special General Partnership) issued an unqualified audit opinion on the company's 2019 financial statements, specifically highlighting two key audit matters: the authenticity and fair pricing of related party purchases due to their significant amount and proportion, and the impairment test of **6.47 billion Yuan** in goodwill arising from the acquisition of CB Cardio Holdings V & II Limited, given its complex process and materiality to the financial statements - The audit opinion type is **unqualified**[510](index=510&type=chunk) - Key Audit Matter One: Related party purchases, with total related party purchases amounting to **326 million Yuan** in 2019, a relatively high proportion, auditors focused on their authenticity and fair pricing[513](index=513&type=chunk) - Key Audit Matter Two: Goodwill impairment testing, as of year-end, the book value of goodwill arising from the acquisition of CBCH II and CBCH V reached **6.47 billion Yuan**, auditors focused on the complexity and significant judgments involved in its impairment testing[515](index=515&type=chunk) [Segment Information](index=222&type=section&id=Segment%20Information) The company is divided into two reporting segments by product: medical protection products and cardiovascular products, in 2019, both segments had comparable revenue sizes, but their profit contributions differed significantly, with the cardiovascular products segment contributing **522 million Yuan** in total profit from approximately 50% of revenue, while the medical protection products segment contributed **52.96 million Yuan** in total profit, demonstrating the strong profitability of the high-value consumables business 2019 Annual Report Segment Financial Information (Unit: Yuan) | Item | Medical Protection Products | Cardiovascular Products | Inter-segment Elimination | Total | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,731,189,585.37 | 1,744,424,569.41 | | 3,475,614,154.78 | | Operating Cost | 1,464,216,948.00 | 390,652,929.49 | | 1,854,869,877.49 | | Total Profit | 52,957,283.75 | 522,221,830.40 | 1,117,116.39 | 576,296,230.54 | [Reference Documents Catalog](index=232&type=section&id=Reference%20Documents%20Catalog)

蓝帆医疗股份有限公司 2019 年第三季度报告全文 蓝帆医疗股份有限公司 BLUE SAIL MEDICAL CO.,LTD. （山东省淄博市齐鲁化学工业区清田路 21 号） | --- | --- | --- | --- | --- | --- | |-------|-------|-------|------------------------|--------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 二〇一九年第三季度报告 | | | | | | | | （未经审计） | | | | | | 股票代码： 002382 | | | 二〇一九年十月 1 蓝帆医疗股份有限公司 2019 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，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。 公司负责人刘文静、主管会计工作负责人孙传志及会 ...

蓝帆医疗股份有限公司 2019 年半年度报告全文 1 蓝帆医疗股份有限公司 BLUE SAIL MEDICAL CO.,LTD. （山东省淄博市齐鲁化学工业区清田路 21 号） | --- | --- | |----------------------|-------| | | | | | | | | | | 二〇一九年半年度报告 | | | （未经审计） | | | 股票代码： 002382 | | 二〇一九年八月 蓝帆医疗股份有限公司 2019 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 公司负责人刘文静、主管会计工作负责人孙传志及会计机构负责人(会计主 管人员)白雪莲声明：保证本半年度报告中财务报告的真实、准确、完整。 除下列董事外，其他董事亲自出席了审议本次半年报的董事会会议 | --- | --- | --- | --- | |--------------------|--------------------|----------------- ...

Financial Performance - The company's operating revenue for Q1 2019 was ¥835,771,436.14, representing a 117.16% increase compared to ¥384,864,033.82 in the same period last year[12]. - Net profit attributable to shareholders was ¥96,050,438.13, up 64.47% from ¥58,400,299.33 year-over-year[12]. - The net profit after deducting non-recurring gains and losses was ¥80,837,989.31, reflecting a 47.28% increase from ¥54,885,835.05 in the previous year[12]. - The net cash flow from operating activities was ¥94,001,970.05, which is a 56.22% increase compared to ¥60,172,360.97 in the same period last year[12]. - Operating revenue for the current period reached 835,771,436.14 RMB, representing a significant increase of 117.16% compared to the previous period[29]. - Net profit for the current period was 101,248,033.49 RMB, an increase of 74.34% compared to the previous period[29]. - Total operating revenue for the current period reached ¥835,771,436.14, a significant increase from ¥384,864,033.82 in the previous period, representing a growth of approximately 117.6%[87]. - Operating profit for the current period was ¥110,853,506.15, compared to ¥46,746,066.64 in the previous period, reflecting an increase of approximately 136.4%[90]. - The company reported a total profit of ¥126,619,064.13, compared to ¥49,881,158.00 in the previous period, representing an increase of about 153.6%[90]. Assets and Liabilities - Total assets at the end of the reporting period were ¥13,178,605,511.67, a 3.78% increase from ¥12,698,487,690.66 at the end of the previous year[12]. - The total liabilities increased to ¥5,295,597,961.06, up from ¥4,898,598,343.90, representing a growth of approximately 8.1%[73]. - The total owner's equity rose to ¥7,883,007,550.61 from ¥7,799,889,346.76, indicating an increase of about 1.1%[76]. - The current liabilities totaled ¥2,778,103,951.02, compared to ¥2,306,535,341.34, reflecting a significant increase of approximately 20.4%[73]. - The non-current liabilities decreased to ¥2,517,494,010.04 from ¥2,592,063,002.56, showing a decline of about 2.9%[73]. - The company's total current assets were reported at $3,243,754,202.69[117]. - The company has a capital reserve of approximately ¥5.67 billion and retained earnings of around ¥334.38 million[126]. Earnings Per Share - Basic earnings per share decreased by 16.67% to ¥0.10 from ¥0.12 in the same period last year[12]. - Diluted earnings per share also decreased by 16.67% to ¥0.10 from ¥0.12 year-over-year[12]. - Basic and diluted earnings per share were both CNY 0.00, down from CNY 0.40 in the previous period[101]. Research and Development - Research and development expenses surged to 42,904,075.79 RMB, marking a 250.13% increase compared to the previous period[29]. - Research and development expenses increased to ¥42,904,075.79 from ¥12,253,765.35, marking a growth of approximately 250.5%[87]. Cash Flow - Cash inflow from operating activities totaled CNY 1,009,891,558.02, significantly increasing from CNY 345,358,247.20 year-over-year[102]. - Cash received from sales of goods and services was CNY 921,535,086.31, a substantial increase from CNY 323,295,661.29 in the previous period[102]. - Cash and cash equivalents at the end of the period reached CNY 888,468,203.22, up from CNY 114,991,925.53 at the end of the previous period[108]. - Cash outflow from investing activities was CNY 131,618,200.30, compared to CNY 183,467,749.53 in the previous period[113]. - The net cash flow from financing activities was $217,460,929.17, compared to a negative cash flow of $1,061,895.26 in the previous period[116]. Acquisitions and Restructuring - The company completed the acquisition of CBCH II and CBCH V in 2018, with the total cash consideration amounting to $280,426,383.00[34]. - The company received formal approval from the China Securities Regulatory Commission for the major asset restructuring on May 8, 2018[34]. - The company has committed to maintaining independence in personnel, assets, finance, and operations post-acquisition[38]. - The company committed to maintaining independence in operations post-transaction, ensuring no substantial competition or unfair related-party transactions occur[40]. Government Subsidies - The company reported a government subsidy of ¥20,337,896.10 during the reporting period[12]. - Other income increased by ¥3,993,823.27, a growth of 303.09% year-over-year, largely due to increased government subsidies received[31]. Shareholder Commitments - Shareholders are prohibited from selling their shares for 6 months after increasing their holdings, ensuring compliance with relevant regulations[54]. - The commitments made by the parties involved will remain effective and unchangeable during the period of significant influence over the company[40].