关于全资子公司中央药业涉及重大诉讼的进展公告 证券代码：002393 证券简称：力生制药 公告编号：2023-032 公司及其董事、监事、高级管理人员保证公告内容真实、准确和完整，公告不存 在虚假记载、误导性陈述或者重大遗漏。 重要事项提示： ●案件所处的诉讼阶段：反诉已立案受理，尚未开庭审理 ●上市公司所处的当事人地位：反诉原告 ●涉案金额：诉讼请求合计金额为人民币54,090,365.4元 ●由于本次案件尚未开庭审理，诉讼结果存在不确定性，目前尚不能确定对公司损益的 影响，实际影响以法院最终判决为准。 一、本次重大诉讼的基本情况 天津力生制药股份有限公司 1 （4）金阳利康赔偿计划任务考核量中未完成部分中央药业对应的利润 49,000,000 元；（5） 金阳利康配合中央药业完成市场交接工作；（6）金阳利康赔偿中央药业重新招商已支出的 成本 36,759.5 元及预估成本 1,450,000 元；（7）金阳利康承担本案的诉讼费、保全费、 保全保险费等费用。（上述诉讼请求合计金额为：人民币 54,090,365.4 元）。目前案件已 经受理，尚未开庭。 三、其他尚未披露的诉讼、仲裁事项 公司及子公司不存在其 ...

证券代码：002393 证券简称：力生制药 公告编号：2023-024 本公司及其董事、监事、高级管理人员保证公告内容真实、准确和完整，公告不 存在虚假记载、误导性陈述或者重大遗漏。 公司定于2023年05月23日(周二）下午15:00～17:00在全景网举办2022年度业绩说明 会，本次年度业绩说明会将采用网络远程方式举行，投资者可登陆全景网"投资者关系互动 平台"（http://ir.p5w.net）参与本次年度业绩说明会。 出席本次说明会的人员有：董事长张平先生、独立董事方建新先生、财务总监王家颖先 生、董事会秘书马霏霏女士。 天津力生制药股份有限公司 关于举办2022年度报告网上业绩说明会的通知 （问题征集专题页面二维码） 特此公告。 天津力生制药股份有限公司 董事会 2023 年 5 月 13 日 为充分尊重投资者、提升交流的针对性，现就公司2022年度业绩说明会提前向投资者公 开征集问题，广泛听取投资者的意见和建议。投资者可于2023年05月22日（周一）15:00前 访问http://ir.p5w.net/zj/，或扫描下方二维码，进入问题征集专题页面。敬请广大投资者通过 全景网系统提交您所关注 ...

Financial Performance - The company's revenue for Q1 2023 was CNY 335,604,291, representing a 9.51% increase compared to CNY 306,461,015 in the same period last year[5] - Net profit attributable to shareholders was CNY 46,500,336, marking a 10.84% increase from CNY 41,953,999 in the previous year[5] - Basic and diluted earnings per share were both CNY 0.25, up 8.70% from CNY 0.23 in the same period last year[5] - Total operating revenue for Q1 2023 was CNY 335,604,291, an increase of 9.5% compared to CNY 306,461,015.93 in Q1 2022[21] - Net profit for Q1 2023 reached CNY 46,500,336.40, representing a 10.1% increase from CNY 41,953,999.32 in Q1 2022[22] - The company reported a total comprehensive income of CNY 46,500,336.40 for Q1 2023, compared to CNY 41,953,999.32 in the same period last year[22] Cash Flow and Investments - The net cash flow from operating activities reached CNY 57,529,078, a significant increase of 75.03% compared to CNY 32,867,367 in Q1 2022[5] - Operating cash inflow totaled CNY 279,472,368.80, an increase of 31.43% compared to the previous year[12] - Cash outflow from investment activities amounted to CNY 83,213,283.93, an increase of 526.80% compared to the same period last year, primarily due to the purchase of financial products[14] - Net cash flow from investment activities reached CNY 123,218,552.48, an increase of 1028.14% year-on-year, driven by the redemption and purchase of financial products[14] - Net increase in cash and cash equivalents was CNY 180,747,631.06, reflecting an increase of 822.58% compared to the previous year, mainly due to the redemption of financial products and increased cash receipts from sales[14] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,359,705,857, reflecting a 1.30% increase from CNY 5,291,039,548 at the end of the previous year[5] - Total current assets at the end of the reporting period amounted to CNY 2,636,640,710.20, slightly up from CNY 2,625,403,269.58 at the beginning of the year[18] - Total liabilities amounted to CNY 945,597,383.38, an increase from CNY 941,660,896.69 at the beginning of the year[19] - The company’s long-term equity investments increased to CNY 76,639,709.29 from CNY 72,501,812.44 at the beginning of the year[18] - The company’s total equity attributable to shareholders increased by 1.49% to CNY 4,414,108,473.96 compared to the end of the previous year[5] Shareholder Information - Total number of common shareholders at the end of the reporting period is 18,544[14] Research and Development - Research and development expenses for Q1 2023 were CNY 23,927,742.21, a decrease from CNY 25,726,028.46 in Q1 2022[21] Other Information - The company did not report any new product launches or significant market expansion strategies during the quarter[27]

Financial Performance - The company's operating revenue for 2022 was ¥1,146,589,384.58, representing a 5.00% increase compared to ¥1,091,940,631.06 in 2021[27]. - The net profit attributable to shareholders decreased by 23.34% to ¥93,606,639.49 from ¥122,105,336.50 in the previous year[27]. - The net cash flow from operating activities increased significantly by 68.78% to ¥331,381,244.78, compared to ¥196,336,646.56 in 2021[27]. - The basic earnings per share dropped by 23.88% to ¥0.51 from ¥0.67 in 2021[27]. - Total assets at the end of 2022 were ¥5,291,039,548.29, a 1.93% increase from ¥5,190,932,494.57 at the end of 2021[27]. - The total profit amounted to CNY 118 million, a decrease of 13.68% year-on-year, while the net profit was CNY 93 million, down 23.34% from the previous year[57]. - The company achieved a total revenue of CNY 1.147 billion in 2022, representing a growth of 5.00% compared to the previous year[57]. - The company reported a net profit margin of 12%, up from 10% in the previous year[156]. - The total assets of the company increased to 5 billion RMB, reflecting a 10% growth compared to last year[156]. Investment and R&D - The company plans to increase investment in new product development in the chronic disease sector, particularly focusing on cardiovascular and cerebrovascular diseases[9]. - The company invested 9.24% of its revenue in R&D, with 5 invention patents and 12 utility model patents granted during the year[62]. - The company’s R&D expenses rose by 1.82% to ¥105,976,863.93, indicating continued investment in innovation[82]. - The company’s R&D personnel count was 329 in 2022, with a 1.10% increase in the proportion of R&D staff to 23.94% of total employees[85]. - The company is investing 200 million RMB in R&D for new technologies in the upcoming year[156]. - The company is focusing on enhancing its research and development capabilities to drive innovation in its product offerings[163]. Market Challenges and Strategies - The company is facing significant pressure on product sales due to the expected continuous decline in generic drug prices as a result of national volume-based procurement policies[9]. - The normalization of volume-based procurement is expected to continue, with over 350 drug varieties involved, leading to significant price reductions[38]. - The company faces challenges due to rising costs and increased competition in the pharmaceutical sector, necessitating strategic adjustments[37]. - The company is actively optimizing its product structure and enhancing sales quality through innovative marketing reforms[9]. - The company aims to enhance its marketing capabilities by optimizing its distributor network and expanding e-commerce channels[119]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 500 million RMB allocated for potential deals[156]. Compliance and Governance - The company is committed to strengthening compliance management and adjusting operational strategies to cope with ongoing healthcare reforms and policies[5]. - The company has committed to maintaining a focus on compliance and timely adjustments to its business strategies in response to regulatory changes[5]. - The governance structure complies with regulatory requirements, ensuring independent operation from the controlling shareholder[132]. - The company maintains independent operations from its controlling shareholders, with a complete and autonomous business structure[139]. - The company emphasizes compliance with insider information management regulations, ensuring proper documentation and confidentiality[138]. - The company has established a comprehensive evaluation mechanism for senior management performance and incentive measures[196]. Operational Efficiency - The company aims to enhance production efficiency and reduce costs through lean production practices in response to rising production factor costs[8]. - The company emphasizes the importance of improving operational quality and efficiency to ensure sustainable development amid industry challenges[5]. - The company is focusing on capital operations to expand its industry scale and optimize asset structure, including seeking high-quality asset injections[120]. - A new organizational structure is being developed to improve management efficiency and adapt to the evolving industry landscape[121]. - The company has established a comprehensive internal control system in accordance with the "Basic Norms for Enterprise Internal Control" to effectively prevent operational risks[197]. Employee Management and Culture - The company emphasizes the importance of corporate culture and governance to strengthen its overall competitiveness and brand image[116]. - The talent strategy focuses on improving the talent identification mechanism and establishing a market-oriented selection system to support high-quality growth[124]. - The company aims to foster a culture of hard work and innovation, encouraging all employees to participate in production and management improvements[126]. - Training programs included GMP awareness, safety regulations, and specialized technical training to enhance employee skills and operational standards[181][182]. - The company planned to implement a restricted stock incentive plan in 2022 to motivate employees[176]. Shareholder Returns - The company implemented a cash dividend policy, distributing 3.00 CNY per 10 shares, totaling 55,197,897.60 CNY, which represents 100% of the total profit distribution[190]. - The cash dividend amount distributed was based on a total share capital of 183,992,992 shares[190]. - The independent directors fulfilled their responsibilities in the cash dividend decision-making process[190]. - The cash dividend policy was executed in compliance with the company's articles of association and shareholder resolutions[189]. Future Outlook - In 2023, the company aims to enhance its operational vitality and profitability, focusing on resolving deep-seated issues that hinder growth[114]. - The company has set ambitious targets for revenue growth in the coming years, aiming for a significant increase in market share[147]. - The company provided guidance for the next fiscal year, projecting a revenue growth of 25%[156].

Financial Performance - The company's revenue for Q3 2022 was CNY 287,280,219.99, representing a 15.69% increase year-over-year[4] - Net profit attributable to shareholders for Q3 2022 was CNY 40,669,839.84, an increase of 11.53% compared to the same period last year[4] - The basic earnings per share for Q3 2022 was CNY 0.22, reflecting a 10.00% increase year-over-year[4] - Total operating revenue for the current period reached ¥902,020,309.45, an increase of 7.93% compared to ¥835,659,085.18 in the previous period[22] - Operating profit for the current period was ¥138,981,098.89, representing an increase of 16.19% from ¥119,607,409.54 in the previous period[23] - Net profit for the current period was ¥112,623,728.95, a rise of 15.2% compared to ¥97,716,985.27 in the previous period[23] - The company reported a total comprehensive income of ¥112,623,728.95 for the current period, compared to ¥97,716,985.27 in the previous period, an increase of 15.2%[24] - Basic earnings per share for the current period was ¥0.62, compared to ¥0.54 in the previous period, reflecting an increase of 14.81%[24] Assets and Liabilities - Total assets as of September 30, 2022, amounted to CNY 5,412,250,132.71, a 4.26% increase from the end of the previous year[4] - Total current assets as of September 30, 2022, amount to ¥2,239,744,876.65, a decrease from ¥2,356,429,105.55 at the beginning of the year[19] - Total assets as of September 30, 2022, are ¥5,412,250,132.71, compared to ¥5,190,932,494.57 at the beginning of the year[20] - Total liabilities as of September 30, 2022, amount to ¥940,648,973.80, an increase from ¥780,423,684.69 at the beginning of the year[20] - The company has a total equity of ¥4,471,601,158.91 as of September 30, 2022, compared to ¥4,410,508,809.88 at the beginning of the year[20] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 198,170,319.93, a significant increase of 73.12%[4] - Cash flow from operating activities generated a net amount of ¥198,170,319.93, compared to ¥114,469,864.37 in the previous period, marking a significant increase of 73.2%[27] - Cash inflow from investment activities totaled ¥77,939,911.69, compared to ¥9,759,403.81 in the previous period, showing a substantial increase[27] - Cash outflow from investment activities was ¥400,676,221.85, up from ¥137,751,103.87, indicating a rise of 190.5%[27] - Cash flow from financing activities showed a net outflow of CNY 54,855,788.17, compared to a net outflow of CNY 8,879,688.32 in the previous period[28] - The net increase in cash and cash equivalents for the quarter was a decrease of CNY 179,421,778.40, compared to a decrease of CNY 22,401,524.01 in the same period last year[28] - The ending balance of cash and cash equivalents was CNY 1,448,245,422.50, down from CNY 1,503,292,310.82 at the end of the previous period[28] Shareholder Information - Total number of common shareholders at the end of the reporting period is 18,620[15] - The largest shareholder, Tianjin Jinhao Pharmaceutical Co., Ltd., holds 51.36% of shares, totaling 93,710,608 shares[15] Investments - The company reported a 100% increase in other debt investments to CNY 200,000,000.00, attributed to investments in financial products[9] - The company reported a 100% increase in cash received from investment activities, amounting to CNY 70,202,957.77, due to the recovery of maturing financial products[11]

证券代码：002393 证券简称：力生制药 公告编号：2022-052 天津力生制药股份有限公司 关于举行"2022 年度天津辖区上市公司半年报业绩 说明会与投资者网上集体接待日"活动的公告 本公司及其董事、监事、高级管理人员保证公告内容真实、准确和完整，公告不 存在虚假记载、误导性陈述或者重大遗漏。 天津力生制药股份有限公司定于2022年9月6日（周二）13:40-16:40在全景网举行"2022 年度天津辖区上市公司半年报业绩说明会与投资者网上集体接待日"活动，本次活动将采用 网络远程的方式举行，投资者可登录"全景路演"（http://rs.p5w.net）参与本次互动交流。 出席本次活动的人员有：董事长徐道情先生、财务总监王家颖先生、董事会秘书马霏霏 女士。 欢迎广大投资者积极参与本次网上说明会。 特此公告。 天津力生制药股份有限公司 董事会 2022 年 9 月 2 日 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥614,740,089.46, representing a 4.67% increase compared to ¥587,330,610.63 in the same period last year[33]. - The net profit attributable to shareholders was ¥71,953,889.11, up 17.47% from ¥61,252,788.63 year-on-year[33]. - The net cash flow from operating activities surged by 217.75%, reaching ¥127,419,970.23 compared to ¥40,101,105.63 in the previous year[33]. - The basic earnings per share increased by 14.71% to ¥0.39 from ¥0.34 in the same period last year[33]. - Total assets at the end of the reporting period were ¥5,354,608,124.42, a 3.15% increase from ¥5,190,932,494.57 at the end of the previous year[33]. - Total profit reached 89 million yuan, reflecting an 18.50% growth year-over-year, while net profit was 72 million yuan, up 17.47%[53]. - The total assets increased by 3.15% to 5.355 billion yuan, and net assets grew by 0.45% to 4.431 billion yuan[53]. - The company achieved a consolidated revenue of 615 million yuan in the first half of 2022, an increase of 4.67% compared to the previous year[53]. - The company reported a total non-recurring profit and loss of 385,033.45 yuan after accounting for government subsidies and other income[38]. Research and Development - There is a significant investment in R&D for new products, particularly in the cardiovascular and chronic disease sectors, to counteract the anticipated decline in generic drug prices[13]. - Research and development investment rose by 7.71% to 64.5 million yuan, supporting the company's innovation efforts[72]. - The company aims to enhance its innovation capabilities, with expectations to obtain one more consistency evaluation approval and to submit additional applications for generic drugs[64]. - The company is focusing on R&D innovation to drive transformation, despite the long and uncertain nature of drug development cycles[104]. - The company is focusing on enhancing its research and development capabilities to innovate and introduce new technologies[200]. Market Strategy and Compliance - The company plans to enhance compliance management and adjust operational strategies in response to ongoing national healthcare reforms and procurement policies[8]. - The company is focusing on accelerating the consistency evaluation of its generic drugs to maintain market competitiveness amid expanding centralized procurement[10]. - The company emphasizes a dual-driven approach of production operations and capital operations to increase development momentum[47]. - The company is focusing on innovation and compliance management to adapt to the evolving pharmaceutical regulatory environment[42]. - The company has established a comprehensive risk control system to ensure safety, quality, and compliance in operations[66]. Environmental Compliance - Tianjin Lisheng Pharmaceutical Co., Ltd. reported a total wastewater discharge of 1.756 tons for chemical oxygen demand, exceeding the limit of 44.55 tons[116]. - The company recorded a total nitrogen discharge of 0.412 tons, with a limit of 7.303 tons, indicating compliance with environmental standards[116]. - The ammonia nitrogen discharge was 0.017 tons, well below the limit of 2.903 tons, demonstrating effective pollution control measures[116]. - The company has implemented measures to ensure that all emissions are within the prescribed limits, demonstrating commitment to environmental sustainability[116]. - The company has obtained environmental permits for multiple projects, including the expansion project and the addition of raw material drug varieties[118]. Investment and Asset Management - The company plans to accelerate the transfer of low-efficiency assets and is actively seeking potential buyers for its biopharmaceutical vaccine project[62]. - The company has a remaining unused fundraising amount of CNY 80,739,280, which is stored in a dedicated fundraising account[89]. - The company has invested CNY 39,007,000 in the Tianjin New Crown Pharmaceutical Co., Ltd. project, achieving a progress rate of 97.15%[92]. - The company has completed the acquisition of a 48% equity stake in a biochemical pharmaceutical company for CNY 3,536,000, achieving 100% of the investment commitment[92]. - The company plans to use 100.70 million yuan to replace self-raised funds previously invested in projects[95]. Risks and Challenges - The company faces risks from industry policy changes, including national medical system reforms and procurement policies, which may impact drug development and sales[102]. - There is a risk related to the completion of consistency evaluations for generic drugs, which could affect market competitiveness if not addressed[103]. - Rising production costs due to stricter standards and raw material price increases pose a significant risk to the company's operations[105]. - The implementation of national procurement policies is expected to lead to a decline in drug prices, increasing sales pressure on the company[106]. Corporate Governance and Shareholder Information - The company has not made any significant changes to the use of raised funds during the reporting period[90]. - The company reported a total guarantee amount of 4,000 million CNY during the reporting period, with the actual guarantee balance also at 4,000 million CNY[144]. - The company has no significant related party transactions during the reporting period, including asset or equity acquisitions and joint external investments[134][135]. - The company reported a total of 182,454,992 shares outstanding, with 100% being unrestricted shares[154]. - The total number of ordinary shareholders at the end of the reporting period was 18,781[156].

天津力生制药股份有限公司 2022 年第一季度报告全文 证券代码：002393 证券简称：力生制药 公告编号：2022-025 天津力生制药股份有限公司 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的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 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 | | 本报告期 | 上年同期 | 本报告期比上年同期 | | --- | --- | --- | --- | | | | | 增减 | | 营业收入（元） | 306,461,015.93 | 327,607,280.27 | -6.45% | | 归属于上市公司股东的净利润 | 41,953,999.32 | ...

Financial Performance - The company's operating revenue for 2021 was CNY 1,091,940,631.06, a decrease of 4.29% compared to CNY 1,140,837,555.39 in 2020[24] - Net profit attributable to shareholders increased significantly to CNY 122,105,336.50, representing a growth of 1,317.31% from CNY 8,615,268.42 in the previous year[24] - The total profit reached CNY 137 million, an increase of 343.30% year-over-year[44] - Net profit for the year was CNY 122 million, reflecting a significant growth of 1317.31% compared to the previous year[44] - Basic earnings per share increased to CNY 0.67, a 1,240% increase compared to CNY 0.05 in the previous year[25] - The company reported a weighted average return on equity of 2.80%, up from 0.20% in the previous year[25] - The total assets reached CNY 5,190,932,494.57, representing a 3.36% increase from CNY 5,022,182,988.99 at the end of the previous year[25] - The net assets rose to CNY 4.411 billion, marking a growth of 2.52% from the previous year[44] Cash Flow and Investments - The net cash flow from operating activities reached CNY 196,336,646.56, up by 157.09% compared to CNY 76,370,096.49 in 2020[24] - The net cash flow from operating activities in the fourth quarter was CNY 81,866,782.19, showing strong cash generation capabilities[29] - Investment activity cash inflow surged by 866.34% to ¥82,120,673.81 in 2021 from ¥8,498,107.19 in 2020[73] - The total investment amount for the reporting period was 68,780,609.30 CNY, representing a 23.91% increase compared to the previous year's investment of 55,506,724.74 CNY[82] Research and Development - The company aims to invest more in R&D for new products, particularly in the cardiovascular and chronic disease sectors, to counteract the pressure from declining drug prices[11] - The company invested CNY 104 million in R&D, focusing on overcoming technical challenges and enhancing self-research capabilities[49] - The R&D strategy includes building a high-quality talent team and combining independent and collaborative research to mitigate risks associated with new product development[9] - The company is focusing on developing high-tech controlled-release generic drugs to enhance its market competitiveness[71] Market Strategy and Product Development - The company plans to enhance compliance management and adjust operational strategies in response to ongoing national healthcare reforms and procurement policies[7] - There is a focus on accelerating the consistency evaluation of generic drugs to maintain market competitiveness amid expanding centralized procurement[8] - The company will continue to optimize its product structure and enhance marketing strategies to improve sales quality and market competitiveness[11] - The company is focused on expanding its product offerings and enhancing its market presence in the pharmaceutical sector[38] Corporate Governance and Compliance - The company emphasizes innovation and quality as key components for high-quality development in the pharmaceutical industry[36] - The company maintains a governance structure that complies with relevant laws and regulations, ensuring independent operation from its controlling shareholder[116] - The company has established a transparent performance evaluation and incentive mechanism for its directors and management, promoting accountability[120] - The company ensures timely and accurate information disclosure, allowing all shareholders equal access to information[122] Social Responsibility and Environmental Compliance - The company has been actively involved in social responsibility initiatives, including disaster relief and community support programs[179] - The company has implemented a self-monitoring plan for environmental compliance, including both manual and automatic monitoring methods[178] - The total amount of wastewater discharged was 5.2475 tons for chemical oxygen demand, 0.1649 tons for ammonia nitrogen, and 1.6661 tons for total nitrogen, all within the pollution discharge standards[177] Employee and Management Structure - The total number of employees at the end of the reporting period was 1,477, with 830 in the parent company and 647 in major subsidiaries[155] - The company has implemented a comprehensive training program focusing on GMP, GVP, and safety regulations to enhance employee skills[157][158] - The company has a strong management team with extensive experience in the pharmaceutical industry, including roles in research, sales, and general management[133] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25%[137] - New product launches are expected to contribute an additional 300 million RMB in revenue over the next year[137] - The company is considering strategic acquisitions to enhance its product portfolio and market presence[137]

天津力生制药股份有限公司 2021 年第三季度报告 证券代码：002393 证券简称：力生制药 公告编号：2021-038 天津力生制药股份有限公司 2021 年第三季度报告 本公司及其董事、监事、高级管理人员保证公告内容真实、准确和完整，公告不存在 虚假记载、误导性陈述或者重大遗漏。 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 | | 本报告期 | 本报告期比上年 同期增减 | 年初至报告期末 | 年初至报告期末 比上年同期增减 | | --- | --- | --- | --- | --- | | 营业收入（元） | 248,328,474.55 | -17.66% | 835,659,085.18 | -8.71% | | ...