Financial Performance - Net profit attributable to shareholders was CNY 46,245,597.11, down 2.21% year-on-year[8]. - Operating income for the reporting period was CNY 301,323,423.76, representing a decrease of 8.54% compared to the same period last year[8]. - Net profit for the current period was CNY 41,592,149.04, down from CNY 47,225,138.21, representing a decline of 12.4%[63]. - Earnings per share (EPS) for the current period was CNY 0.0383, compared to CNY 0.0371 in the previous period, indicating a slight increase of 3.2%[67]. - The net profit attributable to the parent company was ¥221,085,066.81, an increase from ¥210,743,817.45 in the previous period[81]. - Net profit for the current period was ¥237,122,730.36, compared to ¥223,437,717.55 in the previous period, indicating an increase of 6.1%[89]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,037,609,646.92, a decrease of 4.43% compared to the end of the previous year[8]. - Total liabilities increased from ¥640,112,439.71 to ¥750,130,145.83, an increase of about 17.3%[46]. - The company's equity attributable to shareholders decreased from ¥2,529,786,331.95 to ¥2,288,552,683.03, a decline of approximately 9.5%[49]. - Current liabilities increased from ¥554,881,024.99 to ¥691,213,899.14, an increase of approximately 24.5%[46]. - The total assets decreased to CNY 3,085,766,400.21 from CNY 3,190,197,090.69, a decrease of 3.3%[59]. Cash Flow - Net cash flow from operating activities increased significantly by 272.02% to CNY 79,911,900.21[8]. - Net cash flow from operating activities increased by 170.20 million yuan compared to the same period last year, primarily due to an increase in sales receipts[22]. - Cash flow from operating activities generated ¥136,704,095.40, a significant recovery from a negative cash flow of -¥33,494,839.64 in the previous period[94]. - Total cash inflow from operating activities was ¥1,303,794,802.01, compared to ¥994,752,552.64 in the previous period, an increase of 31.0%[94]. - Cash paid for purchasing goods and services was ¥704,234,274.58, an increase from ¥604,288,893.36, indicating a rise of about 16.5%[103]. Investments and Expenses - Research and development expenses increased by CNY 2,252,100, indicating ongoing investment in project development[21]. - Research and development expenses rose to CNY 21,676,549.66 from CNY 20,379,243.34, an increase of 6.4%[60]. - The company reported a financial expense of CNY -31,191,170.90, an improvement compared to CNY -35,466,087.89 in the previous period[60]. - The company has invested a total of 142.65 million yuan in entrusted financial products, with an overdue amount of 32.06 million yuan[32]. - The company recognized a bad debt provision of 10.41 million yuan for overdue financial products totaling 320.62 million yuan[35]. Shareholder Activities - The net assets attributable to shareholders of the listed company decreased by 241 million yuan, mainly due to the repurchase of 64 million shares, which were recorded as treasury stock[23]. - The company completed its share repurchase plan, acquiring a total of 64 million shares at a total cost of approximately 309.44 million yuan, with a maximum price of 5.20 yuan per share[26]. - The company reported a significant increase in contract liabilities, rising from ¥1,811,874.09 to ¥4,267,551.90, an increase of approximately 135.5%[46]. Inventory and Prepayments - Inventory increased by 30.17% compared to the beginning of the period, reflecting a strategy to enhance stock reserves to meet market demand[21]. - Prepayments increased by 2.46 million yuan compared to the beginning of the period, mainly due to an increase in pre-received sales payments[22]. - Prepayments increased from ¥31,802,114.02 to ¥96,127,420.15, a growth of approximately 202.5%[50].

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 842,811,529.28, representing a 24.92% increase compared to CNY 674,683,968.77 in the same period last year[24]. - The net profit attributable to shareholders of the listed company was CNY 174,839,469.70, up 6.97% from CNY 163,452,114.60 in the previous year[24]. - The net cash flow from operating activities was CNY 56,792,195.19, a significant improvement of 203.30% compared to a negative cash flow of CNY -54,975,271.36 in the same period last year[24]. - The basic earnings per share increased to CNY 0.1381, reflecting a growth of 7.64% from CNY 0.1283 in the previous year[24]. - The company's total profit amounted to CNY 210,112,721.30, an increase from CNY 193,556,491.33, representing an increase of approximately 8.5% year-over-year[198]. - Net profit reached CNY 169,999,587.10, compared to CNY 158,765,665.01 in the previous period, reflecting a growth of about 7.8%[198]. - The net profit attributable to the parent company was CNY 174,839,469.70, up from CNY 163,452,114.60, indicating an increase of approximately 6.5%[198]. - Operating profit was reported at CNY 209,218,830.69, compared to CNY 190,781,861.82, marking an increase of around 9.6%[198]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,127,699,897.24, a decrease of 1.59% from CNY 3,178,318,920.39 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company decreased to CNY 2,503,267,341.73, down 1.05% from CNY 2,529,786,331.95 at the end of the previous year[24]. - Cash and cash equivalents decreased by RMB 283,004,530.67, reflecting a decline of 333.44% compared to the previous period[60]. - The company's total assets included RMB 135,834,852.33 in cash, accounting for 4.34% of total assets, down from 9.50% in the same period last year[63]. - Total liabilities decreased to CNY 591,119,521.01 from CNY 611,120,977.24, reflecting a reduction in financial obligations[191]. - The company's equity decreased to CNY 2,560,621,119.03 from CNY 2,579,076,113.45, indicating a slight decline in shareholder value[194]. Revenue Sources - The revenue from the biopharmaceutical sector accounted for 99.97% of total revenue, amounting to RMB 842,568,728.82, with a year-on-year growth of 24.92%[60]. - The raw material drug series generated RMB 441,777,817.72, which is 52.42% of total revenue, showing a significant year-on-year increase of 37.47%[60]. - The revenue from foreign markets reached RMB 380,092,678.67, accounting for 45.10% of total revenue, with a year-on-year increase of 43.63%[60]. Marketing and Sales - The company has established a professional marketing team of over 600 members and has built stable partnerships with over 30 certified pharmaceutical marketing companies in China[43]. - Domestic formulation sales have shown steady growth, supported by a diversified marketing approach combining self-operated sales, agency models, and OTC sales[44]. - The company has developed an international marketing network in countries such as the USA, Germany, France, Italy, and Japan, focusing on both raw material and high-value product exports[43]. Research and Development - The company has successfully advanced its new drug clinical research, with the QHRD107 project entering phase I clinical trials[51]. - The company is actively working on market access for new products, including heparin sodium injection and diagnostic reagent varieties, achieving partial product sales during the reporting period[50]. - Research and development expenses for the first half of 2019 were CNY 32,075,565.49, slightly down from CNY 32,688,843.60 in the same period of 2018, suggesting a stable investment in innovation[195]. Risks and Challenges - The company faces various risks including drug bidding risks, new product development risks, and intensified industry competition[7]. - The company faces risks including price fluctuations in drug sales, new drug development challenges, and increased operational costs due to rising raw material prices[102]. Corporate Governance - The company has not disclosed any significant new product or technology developments in this report[24]. - The company has not engaged in any related party transactions during the reporting period[116]. - No significant litigation or arbitration matters were reported during the reporting period[113]. - The half-year financial report has not been audited[109]. Shareholder Information - The company repurchased a total of 51,420,000 shares, representing 4.02% of the total share capital, at an average repurchase cost of CNY 4.795 per share, totaling CNY 246,567,971.86[133]. - The largest shareholder, Wang Yaofang, holds 19.95% of the shares, totaling 255,402,000 shares[151]. - The second-largest shareholder, Zhao Gang, holds 8.02% of the shares, totaling 102,701,000 shares[151].

Financial Performance - The company's operating revenue for 2018 was ¥1,321,678,623.75, representing a 24.05% increase compared to ¥1,065,466,101.93 in 2017[23] - The net profit attributable to shareholders of the listed company was CNY 221,349,044.20, representing a 20.95% increase compared to the previous year[27] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 108,397,272.85, up 24.76% year-on-year[27] - Basic and diluted earnings per share were both CNY 0.17, reflecting a 21.43% increase from the previous year[27] - The total assets of the company increased by 4.40% to CNY 3,178,318,920.39 compared to the end of the previous year[27] - The net assets attributable to shareholders of the listed company rose by 3.81% to CNY 2,529,786,331.95[27] - The company reported quarterly revenue of CNY 338,085,544.70 in Q1, CNY 336,598,424.07 in Q2, CNY 329,447,307.73 in Q3, and CNY 317,547,347.25 in Q4[30] - The net profit attributable to shareholders in Q1 was CNY 84,075,310.30, while in Q4 it dropped to CNY 10,605,226.75[30] - The company achieved a total operating revenue of ¥1,321,678,623.75, representing a year-on-year increase of 24.05% compared to ¥1,065,466,101.93 in 2017[80] - The biopharmaceutical segment contributed ¥1,321,355,583.80, accounting for 99.98% of total revenue, with a year-on-year growth of 24.02%[82] - The raw material drug series generated ¥623,380,835.56, which is 47.17% of total revenue, showing a significant increase of 32.04% from the previous year[80] - Domestic revenue reached ¥783,186,998.94, representing 59.26% of total revenue, with a year-on-year increase of 15.79%[80] - International revenue was ¥538,491,624.81, accounting for 40.74% of total revenue, with a notable growth of 38.40% compared to the previous year[80] Profit Distribution - The profit distribution plan approved by the board is a cash dividend of ¥1.20 per 10 shares (including tax) for a total of 1,274,000,001 shares[6] - The company distributed cash dividends of RMB 152,880,000.12 (including tax) for 2018, which represents 69.07% of the net profit attributable to ordinary shareholders[148] - The cash dividend per 10 shares for 2018 was RMB 1.20, with no stock bonus shares issued[150] - The total distributable profit at the end of 2018 was RMB 1,050,133,545.39, ensuring that cash dividends accounted for 100% of the total profit distribution[153] - The cash dividend total for 2018, including other methods, was RMB 181,292,194.48, reflecting a strong commitment to shareholder returns[153] - The company has not issued any stock bonuses in the past three years, focusing solely on cash dividends for profit distribution[149] Risks and Challenges - The company faces various risks including drug bidding risks, new product development risks, and increased operational costs[6] - The company has optimized its internal control system, enhancing risk management in key operational areas such as environmental protection and quality control[75] - The company plans to enhance its internal control system to effectively prevent enterprise risks, focusing on quality, EHS, finance, and information security management[142] Business Operations and Development - The company has undergone changes in its main business scope, now including the production and sales of various pharmaceutical forms and diagnostic reagents[21] - The company has engaged Jiangsu Gongzheng Tianye Accounting Firm for auditing services during the reporting period[22] - The company has established a diversified marketing model combining self-operated sales, agency, and OTC sales, with over 600 professionals in its marketing team[47] - The international marketing system has been developed, with networks established in countries like the USA, Germany, France, Italy, and Japan, focusing on high-value product exports[47] - The company is actively involved in the development of innovative drugs and bioproducts to meet clinical needs and enhance production technology[51] - The company is one of the few domestic enterprises covering the entire heparin industry chain, with ongoing efforts to enhance product consistency and regulatory compliance[52] - The company has established a new production facility that is expected to commence operations following the completion of necessary certifications[113] Research and Development - The R&D investment for 2018 was ¥68,565,270.73, a 7.97% increase from ¥63,506,210.82 in 2017[98] - The number of R&D personnel increased to 160, a 5.96% rise from 151 in the previous year[98] - The company has filed 171 patents in biopharmaceutical innovation fields, with 71 patents granted, and has obtained three new drug production approvals and one clinical approval for a Class 1 new drug[61] - The company plans to improve R&D management capabilities and accelerate the speed of new product development in 2019[140] Market Performance - The company achieved nearly 500 million CNY in sales for the "Yikai" brand of kininogenase, enhancing its market influence and brand recognition[48] - Key products such as trypsin and heparin sodium have sales exceeding 500 million RMB, with market share continuously increasing[58] - The company has strengthened its market development for new products like enoxaparin, dalteparin, nadroparin calcium, and heparin sodium locking injection, laying a solid foundation for future growth[52] Corporate Governance and Compliance - The company has established a governance structure to protect the rights of shareholders and creditors, ensuring compliance with laws and regulations[196] - The company emphasizes employee welfare, providing various social insurances and fostering a harmonious labor relationship, recognized as a "Model Workers' Home" by the All-China Federation of Trade Unions[196] - The company has confirmed that there were no non-operating fund occupations by controlling shareholders or related parties[158] - The company has complied with all commitments made to minority shareholders in a timely manner[158] Financial Management - The company reported a total revenue of 1,685,069,100.00 CNY from investment-related activities, slightly down from 1,682,335,100.00 CNY in the previous year, indicating a decrease of approximately 0.2%[165] - The company has maintained a continuous relationship with Jiangsu Gongzheng Tianye Accounting Firm for 11 years, with an audit fee of 700,000 CNY for the current period[168] - There were no significant accounting errors that required retrospective restatement during the reporting period[166] - The company has not faced any major litigation or arbitration matters during the reporting period[172] - The company has not encountered any penalties or rectification issues during the reporting period[173] Investment and Capital Management - The company has committed to several investment projects, with a total committed investment of ¥62,463 million, of which ¥73,963 million has been adjusted[110] - The company has completed the expansion projects for trypsin raw materials and heparin sodium raw materials, with the completion of the asparaginase raw materials project pending due to site changes[113] - The company has returned CNY 5,500 million in bank loans, achieving 100% of the planned repayment[113] - The total raised funds directed towards various projects amounted to CNY 58,867.71 million, with a significant portion allocated to enhancing production capabilities[113]

Financial Performance - The company's revenue for Q1 2019 was ¥366,672,534.19, representing an increase of 8.46% compared to ¥338,085,544.70 in the same period last year[10] - Net profit attributable to shareholders was ¥89,366,258.70, up 6.29% from ¥84,075,310.30 year-on-year[10] - Basic earnings per share increased by 6.52% to ¥0.0703 from ¥0.0660 in the same period last year[10] - Net profit for the current period was ¥86,679,216.33, representing a growth of 6.5% from ¥81,348,067.08 in the previous period[59] - The total comprehensive income for the period was 95,110,179.33, up from 89,364,116.53, showing a growth of around 6.2%[70] Cash Flow - The net cash flow from operating activities surged by 1,284.22%, reaching ¥79,670,053.96 compared to ¥5,755,611.06 in the previous year[10] - Cash inflow from sales of goods and services was 426,178,928.12, compared to 299,644,479.24 in the previous period, representing a growth of about 42.3%[71] - The cash outflow for operating activities totaled 349,540,033.00, compared to 301,212,213.63 in the previous period, indicating an increase of approximately 16%[74] - The net cash flow from investing activities was -196,504,412.55, worsening from -29,920,033.67 in the previous period[77] - The net cash flow from financing activities was -38,924,360.64, compared to a positive flow of 15,155,231.27 in the previous period, indicating a significant decline[77] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,242,204,140.51, a growth of 5.17% from ¥3,082,873,594.58 at the end of the previous year[10] - Total current assets increased to ¥2,451,009,536.75 from ¥2,381,575,046.23, representing a growth of approximately 2.9%[39] - Total liabilities decreased to ¥617,318,443.50 from ¥640,112,439.71, a decline of approximately 3.6%[42] - Current liabilities rose to ¥582,734,038.96 from ¥554,881,024.99, reflecting an increase of about 5.0%[42] - Owner's equity increased to ¥2,624,885,697.01 from ¥2,538,206,480.68, representing a growth of about 3.4%[45] Shareholder Information - The top shareholder, Wang Yaofang, holds 19.95% of the shares, totaling 255,402,000 shares[15] - The company reported no significant non-recurring gains or losses that would be classified as regular income[13] - There were no repurchase agreements conducted by the top ten shareholders during the reporting period[18] - The company repurchased a total of 5,999,999 shares, accounting for 0.47% of the total share capital, at a total cost of approximately 28.41 million yuan[26] Research and Development - R&D expenses increased by 1.03 million yuan, reflecting ongoing investment in R&D projects[22] - Research and development expenses for the current period were ¥14,587,892.62, slightly down from ¥15,867,099.27, indicating a decrease of 8.0%[56] Government Support - The company received government subsidies amounting to ¥2,872,743.69 during the reporting period[10] Other Financial Metrics - The company reported a financial expense of -¥22,643,575.24, compared to -¥18,551,538.37 in the previous period, indicating an increase in financial costs[56] - The company's tax expenses for the current period were ¥20,157,120.62, slightly down from ¥20,517,042.70, a decrease of 1.8%[59] - The total operating profit for the period was 115,115,419.32, an increase from 108,750,148.18 in the previous period, reflecting a growth of approximately 3.3%[67]

常州千红生化制药股份有限公司 2018 年第三季度报告正文 证券代码：002550 证券简称：千红制药 公告编号：2018-049 常州千红生化制药股份有限公司 常州市新北区云河路 518 号 千红制药 二 O 一八年第三季度报告正文 披露时间：2018 年 10 月 25 日 公司负责人王耀方、主管会计工作负责人肖爱群及会计机构负责人(会计主 管人员)肖爱群声明：保证季度报告中财务报表的真实、准确、完整。 2 常州千红生化制药股份有限公司 2018 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 1 股票简称：千红制药 股票代码：002550 常州千红生化制药股份有限公司 2018 年第三季度报告正文 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。 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | - ...

常州千红生化制药股份有限公司 2018 年半年度报告全文 常州千红生化制药股份有限公司 常州市新北区云河路 518 号 二 O 一八年半年度报告 股票简称：千红制药 股票代码：002550 披露时间：2018 年 8 月 23 日 1 常州千红生化制药股份有限公司 2018 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。 公司负责人王耀方、主管会计工作负责人肖爱群及会计机构负责人(会计主 管人员)肖爱群声明：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。 公司可能存在药品招标风险、新品研发风险、外部经济环境的不确定性风 险、产品质量风险、产品销售价格波动的风险、经营成本增加的风险、行业竞 争加剧的风险、汇率波动的风险等。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 | 重要提示、目录和释义 2 | | --- | --- | | 第二节 | 公司简介和主要财务指标 5 | | 第三节 | ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides an overview of the report's structure and key disclaimers, ensuring the accuracy and completeness of the information presented [Important Notice](index=2&type=section&id=Important%20Notice) The company's board and management guarantee the report's accuracy and completeness, with key financial officers ensuring financial report integrity - The 2017 profit distribution plan proposes a cash dividend of **0.80 yuan** (tax included) per 10 shares based on **1.28 billion total shares**, with no bonus shares or capital reserve conversion[4](index=4&type=chunk) - Potential risks highlighted include drug bidding, new product R&D, economic environment, product quality, sales price, operating costs, competition, and exchange rate fluctuations[4](index=4&type=chunk) [Company Profile and Key Financial Indicators](index=5&type=section&id=Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information and presents its key financial performance metrics for the reporting period [Company Basic Information](index=5&type=section&id=Company%20Basic%20Information) Qianhong Pharma, listed on the Shenzhen Stock Exchange (002550), is led by Wang Yaofang, with its main operations in Changzhou - The company's main business scope expanded during the reporting period to include the production and sales of small volume injections (including pre-filled syringes)[14](index=14&type=chunk) [Key Accounting Data and Financial Indicators](index=6&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) In 2017, revenue grew significantly by 37.23%, but net profit attributable to shareholders decreased by 18.47%, with operating cash flow down 59.95% Key Accounting Data and Financial Indicators | Indicator | 2017 | 2016 | Year-on-year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (yuan) | 1,065,466,101.93 | 776,388,972.85 | 37.23% | | Net Profit Attributable to Shareholders (yuan) | 183,004,861.16 | 224,461,503.80 | -18.47% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (yuan) | 86,885,606.41 | 124,778,672.55 | -30.37% | | Net Cash Flow from Operating Activities (yuan) | 88,518,995.29 | 221,014,952.18 | -59.95% | | Basic Earnings Per Share (yuan/share) | 0.14 | 0.18 | -22.22% | | Weighted Average Return on Net Assets | 7.62% | 9.63% | -2.01% | | Total Assets (yuan) | 3,044,305,214.35 | 3,033,875,266.88 | 0.34% | | Net Assets Attributable to Shareholders (yuan) | 2,437,036,286.41 | 2,400,623,430.56 | 1.52% | [Quarterly Key Financial Indicators](index=7&type=section&id=Quarterly%20Key%20Financial%20Indicators) 2017 revenue was evenly distributed, but net profit attributable to parent declined sharply in Q3 and Q4, with Q4 non-recurring net profit being negative Quarterly Key Financial Indicators | Indicator (yuan) | Q1 | Q2 | Q3 | Q4 | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 243,708,343.81 | 273,259,467.39 | 240,184,960.55 | 308,313,330.18 | | Net Profit Attributable to Shareholders | 70,416,381.36 | 73,581,804.63 | 27,378,575.26 | 11,628,099.91 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 46,326,348.25 | 50,738,702.85 | 3,508,011.98 | -13,687,456.67 | [Non-recurring Gains and Losses Items and Amounts](index=7&type=section&id=Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Total non-recurring gains and losses in 2017 were 96.12 million yuan, primarily from 109 million yuan in wealth management income, significantly boosting net profit - Total non-recurring gains and losses in 2017 were **96.1193 million yuan**, with **109 million yuan** from wealth management products (bank wealth management, trusts, reverse repurchase of national bonds) being a significant source of profit[22](index=22&type=chunk) [Company Business Overview](index=9&type=section&id=Company%20Business%20Overview) This section outlines the company's core business, product portfolio, operating model, industry position, and key competitive advantages [Main Business, Products, and Operating Model](index=9&type=section&id=Main%20Business%2C%20Products%2C%20and%20Operating%20Model) The company specializes in R&D, production, and sales of biochemical drugs, focusing on active enzymes and polysaccharides, with a balanced domestic and international market strategy - The company's main products are two major series of biochemical drugs: active enzymes and polysaccharides, with **42 specifications**[25](index=25&type=chunk) - Key performance drivers include: domestic preparation sales, with "Yikai" showing sustained growth and new products Enoxaparin and Dalteparin Sodium gaining market access; and API sales, achieving volume and price increases through supply-demand linkage[28](index=28&type=chunk) [Industry Development and Company Position](index=10&type=section&id=Industry%20Development%20and%20Company%20Position) Operating in a rapidly developing biopharmaceutical industry, the company is a leading biochemical drug producer with strong market positions and active innovation drug development - The company is a leading enterprise in the biochemical pharmaceutical sub-segment of China's biopharmaceutical industry, with main products such as Kallidinogenase ("Yikai") and Heparin Sodium series ranking among the top in domestic and international markets[30](index=30&type=chunk) - The company is developing innovative drugs through two platforms: Jiangsu Zhonghong (large molecules) and Innosenkang (small molecules); preclinical research for small molecule targeted anti-tumor drug QHRD107 has been completed, and its clinical application has been accepted by CFDA[31](index=31&type=chunk) [Core Competitiveness Analysis](index=11&type=section&id=Core%20Competitiveness%20Analysis) The company's core strengths include market-leading products, robust innovation platforms, advanced production technology, stringent quality control, and a strong talent and marketing network - Product competitiveness advantage: Leading product "Yikai" brand Kallidinogenase enteric-coated tablets and injections are globally pioneering and hold the **number one domestic market share**; "Qianhong Yimei" has an annual growth rate of nearly **50%**; L-Asparaginase is one of the **top three API manufacturers globally**[34](index=34&type=chunk) - Innovation platform advantage: Established a three-tier innovation platform comprising Jiangsu Zhonghong (original new drugs), New Product Development Department (industrialization transformation), and Production Process Technology Research Team (existing product innovation)[35](index=35&type=chunk) - Quality and technology advantage: Exported drugs have passed GMP certifications from multiple countries and regions, including US FDA and EU COS, and the company participated in the international standard revision for USP Heparin Sodium API[37](index=37&type=chunk) [Management Discussion and Analysis](index=13&type=section&id=Management%20Discussion%20and%20Analysis) This section reviews the company's 2017 operational performance, analyzes key business segments, and outlines future development strategies [Annual Operating Overview](index=13&type=section&id=Annual%20Operating%20Overview) In 2017, the company achieved significant revenue growth, transitioned to domestic preparation sales, advanced innovative drug R&D, and completed executive succession - In 2017, the company completed its transition from primarily API sales to domestic preparation sales, laying the foundation for sustained growth in its main business[41](index=41&type=chunk) - Progress in innovative drug R&D: preclinical research for small molecule targeted anti-tumor drug QHRD107 has been completed, and its clinical application has been accepted by CFDA[41](index=41&type=chunk) - The company completed the succession of its senior management team and implemented a restricted stock incentive plan to enhance the cohesion of the core team[42](index=42&type=chunk) [Main Business Analysis](index=14&type=section&id=Main%20Business%20Analysis) Main business revenue grew by 37.23% in 2017, driven by overseas and API sales, but rising raw material costs and depreciation led to a 13.03 percentage point drop in gross profit margin [Revenue and Cost Analysis](index=14&type=section&id=Revenue%20and%20Cost%20Analysis) 2017 operating revenue reached 1.065 billion yuan, up 37.23%, but operating costs surged 88.15% due to raw materials and depreciation, reducing gross profit margin to 51.77% Revenue and Cost Analysis | Category | 2017 Revenue (yuan) | Year-on-year Change | 2017 Cost (yuan) | Year-on-year Change | 2017 Gross Profit Margin | Gross Profit Margin Change from Prior Year | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Product** | | | | | | | | API Series | 472,103,548.16 | 65.17% | 340,907,795.36 | 88.37% | 27.79% | -8.90% | | Preparation Drug Series | 592,532,546.25 | 21.24% | 172,950,344.84 | 88.05% | 70.81% | -10.37% | | **By Region** | | | | | | | | Domestic Region | 676,380,161.58 | 23.30% | 225,002,803.85 | 78.93% | 66.73% | -10.35% | | Overseas Region | 389,085,940.35 | 70.80% | 288,885,469.24 | 94.82% | 25.75% | -9.16% | - In the composition of operating costs, raw material costs increased by **84.45%** year-on-year, and depreciation expenses increased by **364.94%** year-on-year, which are the main reasons for the significant increase in costs[54](index=54&type=chunk) [Expense Analysis](index=18&type=section&id=Expense%20Analysis) Administrative expenses increased by 37.58% due to R&D, sales expenses rose 15.16% from market investment, and financial expenses saw a reduced negative value Expense Analysis | Expense Item | 2017 (yuan) | 2016 (yuan) | Year-on-year Change | Main Reason | | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 248,486,909.85 | 215,774,564.10 | 15.16% | Increased market investment | | Administrative Expenses | 163,100,901.37 | 118,547,521.81 | 37.58% | Increased R&D investment | | Financial Expenses | -89,133,573.34 | -104,913,004.33 | 15.04% | Changes in exchange gains and losses | [R&D Investment Analysis](index=18&type=section&id=R%26D%20Investment%20Analysis) R&D investment increased by 43.07% to 63.51 million yuan in 2017, representing 5.96% of revenue, with significant progress in new drug development R&D Investment Analysis | Indicator | 2017 | 2016 | Change Ratio | | :--- | :--- | :--- | :--- | | R&D Investment Amount (yuan) | 63,506,210.82 | 44,387,342.11 | 43.07% | | R&D Investment as % of Operating Revenue | 5.96% | 5.72% | 0.24% | | Number of R&D Personnel (persons) | 151 | 140 | 7.86% | - Significant progress in R&D pipeline: clinical trial application for Class I new drug QHRD107 capsules has been accepted by CFDA; Heparin Sodium injection for catheter lock has been approved; Enoxaparin Sodium and Dalteparin Sodium products have been launched[60](index=60&type=chunk) [Cash Flow Analysis](index=19&type=section&id=Cash%20Flow%20Analysis) Operating cash flow significantly decreased by 59.95% to 88.52 million yuan, mainly due to reclassification of wealth management interest income, while investing cash flow turned positive Cash Flow Analysis | Item (yuan) | 2017 | 2016 | Year-on-year Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 88,518,995.29 | 221,014,952.18 | -59.95% | | Net Cash Flow from Investing Activities | 90,444,235.00 | -201,405,511.28 | 144.91% | | Net Cash Flow from Financing Activities | -133,308,030.17 | -44,833,255.59 | -197.34% | | Net Increase in Cash and Cash Equivalents | 39,522,704.57 | -20,115,420.45 | 296.48% | - Net cash flow from operating activities decreased by **59.95%** year-on-year, mainly due to the adjustment in the reporting classification of wealth management interest income[63](index=63&type=chunk) [Future Development Outlook](index=28&type=section&id=Future%20Development%20Outlook) The company plans to strengthen marketing, accelerate new product R&D, pursue EU GMP certification for injections, and enhance internal controls to support strategic growth - Key tasks for 2018 include: strengthening marketing, leveraging the potential of advantageous products like Kallidinogenase and Heparin Sodium injection, and promoting rapid market penetration of new products such as Enoxaparin and Dalteparin Sodium[87](index=87&type=chunk) - Strategic plan: strive to obtain EU GMP certification for the company's injection production lines, achieving a strategic transformation from API export to high-value-added preparation export[91](index=91&type=chunk) - Promote the industrialization of Jinghong Bio-Tech's molecular diagnostic reagents, completing product registration and GMP certification for the production base within the year, and achieving product launch[91](index=91&type=chunk) [Significant Events](index=31&type=section&id=Significant%20Events) This section covers the company's profit distribution plan and the implementation of its equity incentive program during the reporting period [Profit Distribution](index=31&type=section&id=Profit%20Distribution) The 2017 profit distribution plan includes a 0.8 yuan cash dividend per 10 shares, totaling 102.4 million yuan, representing 55.95% of net profit attributable to parent Profit Distribution | Dividend Year | Cash Dividend Amount (tax included, yuan) | Ratio of Net Profit Attributable to Common Shareholders in Consolidated Statements | | :--- | :--- | :--- | | 2017 | 102,400,000.00 | 55.95% | | 2016 | 101,897,696.00 | 45.40% | | 2015 | 96,000,000.00 | 35.93% | [Implementation of Equity Incentive Plan](index=37&type=section&id=Implementation%20of%20Equity%20Incentive%20Plan) In 2017, the company repurchased 6.2788 million shares and granted 6.1788 million restricted shares to 43 incentive recipients at 3.03 yuan per share - The company repurchased **6,278,800 shares** in March 2017 for the subsequent restricted stock incentive plan[120](index=120&type=chunk) - On October 26, 2017, the company initially granted **6,178,800 restricted shares** to **43 incentive recipients** at a grant price of **3.03 yuan per share**[121](index=121&type=chunk) [Share Changes and Shareholder Information](index=43&type=section&id=Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share structure and provides an overview of its shareholder base and actual controller [Share Changes](index=43&type=section&id=Share%20Changes) Total share capital remained 1.28 billion shares, with restricted shares decreasing by 33.7456 million due to executive share movements and equity incentives - Main reasons for share changes include: unlocking and re-locking of executive shares, director Wang Ke's increase of **36.486 million shares**, expiration of original additional locked shares for circulation, and the grant of **6.1788 million restricted shares**[149](index=149&type=chunk) [Shareholders and Actual Controller Information](index=47&type=section&id=Shareholders%20and%20Actual%20Controller%20Information) As of 2017-end, the company had 63,807 shareholders, with Wang Yaofang as the controlling shareholder and actual controller, holding 19.95% Top 5 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Ratio | Shares Held at End of Reporting Period | | :--- | :--- | :--- | :--- | | Wang Yaofang | Domestic Natural Person | 19.95% | 255,402,000 | | Zhao Gang | Domestic Natural Person | 8.02% | 102,701,000 | | Jiang Jianping | Domestic Natural Person | 3.33% | 42,567,000 | | Wang Ke | Domestic Natural Person | 2.99% | 38,209,600 | | Zhou Guanxin | Domestic Natural Person | 2.11% | 27,000,000 | - The company's controlling shareholder and actual controller is Chairman **Wang Yaofang**, with no change during the reporting period[160](index=160&type=chunk)[161](index=161&type=chunk)[162](index=162&type=chunk) [Preferred Shares Information](index=50&type=section&id=Preferred%20Shares%20Information) This section confirms that the company had no preferred shares during the reporting period [Preferred Shares](index=50&type=section&id=Preferred%20Shares) The company did not have any preferred shares during the reporting period - The company had no preferred shares during the reporting period[164](index=164&type=chunk) [Directors, Supervisors, Senior Management, and Employees](index=51&type=section&id=Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Employees) This section details changes in the company's board, supervisory board, and senior management, along with an overview of its employee structure [Changes in Directors, Supervisors, and Senior Management](index=52&type=section&id=Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) Key senior management changes included Zhao Gang's resignation as General Manager (remaining Vice Chairman), Wei Yinna's resignation as Director, and Zheng Tao's resignation as Supervisor - Zhao Gang resigned as General Manager due to health reasons but remains Vice Chairman and Director of the company[168](index=168&type=chunk) [Employee Information](index=58&type=section&id=Employee%20Information) As of year-end, the company had 1,164 employees, with sales personnel comprising 53% and over 86% holding college degrees or higher Employee Composition | Professional Composition | Number of Persons | Education Level | Number of Persons | | :--- | :--- | :--- | :--- | | Production Personnel | 265 | Master's Degree and Above | 72 | | Sales Personnel | 617 | Bachelor's Degree | 394 | | Technical Personnel | 151 | College Degree | 532 | | Financial Personnel | 19 | Secondary Vocational, Technical School, High School and Below | 166 | | Administrative Personnel | 112 | | | | **Total** | **1,164** | **Total** | **1,164** | [Corporate Governance](index=60&type=section&id=Corporate%20Governance) This section outlines the company's adherence to corporate governance standards and its operational independence [Basic Status of Corporate Governance](index=60&type=section&id=Basic%20Status%20of%20Corporate%20Governance) The company's governance structure complies with regulatory requirements, maintaining independence in business, assets, personnel, organization, and finance - The actual corporate governance situation complies with the normative documents of the China Securities Regulatory Commission and the Shenzhen Stock Exchange regarding corporate governance of listed companies, with no unresolved governance issues[189](index=189&type=chunk) - The company maintains independence in business, assets, personnel, organization, and finance, possessing a complete business system and the ability to operate independently in the market[194](index=194&type=chunk) [Corporate Bonds Information](index=67&type=section&id=Corporate%20Bonds%20Information) This section confirms the absence of publicly issued and listed corporate bonds that were unexpired or unredeemed during the reporting period [Corporate Bonds](index=67&type=section&id=Corporate%20Bonds) The company had no publicly issued or listed corporate bonds that were unexpired or unredeemed during the reporting period - The company had no corporate bonds publicly issued and listed on a stock exchange that were either unexpired or not fully redeemed by the approval date of the annual report[211](index=211&type=chunk) [Financial Report](index=68&type=section&id=Financial%20Report) This section includes the audit report, financial statements, and detailed notes on consolidated financial statement items for the reporting period [Audit Report](index=68&type=section&id=Audit%20Report) Jiangsu Gongzheng Tianye issued an unqualified audit opinion, identifying revenue recognition as a key audit matter due to its materiality and inherent manipulation risk - The audit firm issued a standard unqualified audit opinion, stating that the financial statements were prepared in all material respects in accordance with enterprise accounting standards, fairly reflecting the company's financial position and operating results[213](index=213&type=chunk)[214](index=214&type=chunk) - Revenue recognition was identified as a key audit matter. The auditor believes that due to the material amount of revenue and its status as a key performance indicator, there is an inherent risk of management manipulating revenue recognition to achieve specific targets or expectations[216](index=216&type=chunk)[217](index=217&type=chunk) [Financial Statements](index=71&type=section&id=Financial%20Statements) The financial statements show total assets of 3.044 billion yuan, net assets attributable to parent of 2.437 billion yuan, 1.065 billion yuan in revenue, and 183 million yuan in net profit for 2017 Key Financial Statement Items | Main Financial Statement Item (yuan) | December 31, 2017 / 2017 Annual | December 31, 2016 / 2016 Annual | | :--- | :--- | :--- | | **Balance Sheet** | | | | Total Assets | 3,044,305,214.35 | 3,033,875,266.88 | | Total Liabilities | 591,406,194.27 | 609,334,674.96 | | Equity Attributable to Parent Company Owners | 2,437,036,286.41 | 2,400,623,430.56 | | **Income Statement** | | | | Total Operating Revenue | 1,065,466,101.93 | 776,388,972.85 | | Total Operating Costs | 856,046,715.42 | 515,443,344.20 | | Net Profit Attributable to Parent Company Owners | 183,004,861.16 | 224,461,503.80 | [Notes to Consolidated Financial Statement Items](index=112&type=section&id=Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section details revenue growth, R&D-driven administrative expense increase, significant financial income from wealth management, and the substantial contribution of non-recurring gains to net profit - In 2017, operating revenue was **1.065 billion yuan**, of which main business revenue was **1.064 billion yuan**, a year-on-year increase of **37.45%**[539](index=539&type=chunk)[540](index=540&type=chunk) - Within administrative expenses, R&D expenses amounted to **63.5062 million yuan**, a year-on-year increase of **43.07%**, which was the main driver of administrative expense growth[545](index=545&type=chunk) - Financial expenses were **-89.1336 million yuan**, primarily due to **112 million yuan** in interest income (including **109 million yuan** from wealth management products) offsetting **16.4219 million yuan** in interest expenses[548](index=548&type=chunk) [Reference Documents Catalog](index=182&type=section&id=Reference%20Documents%20Catalog) This section lists the official documents available for inspection, including signed financial statements, the original audit report, and publicly disclosed company filings [Reference Documents](index=182&type=section&id=Reference%20Documents) Reference documents include signed financial statements, the original audit report, publicly disclosed company filings, and the chairman-signed annual report, available at the board office - Reference documents include: financial statements signed and sealed by the legal representative, chief financial officer, and head of accounting department; original audit report sealed by the accounting firm and signed and sealed by certified public accountants; originals of all company documents and announcements publicly disclosed on newspapers designated by the China Securities Regulatory Commission during the reporting period; and the original 2017 annual report text signed by the chairman[687](index=687&type=chunk)

Financial Performance - The company's operating revenue for Q1 2018 was ¥338,085,544.70, representing a 38.73% increase compared to ¥243,708,343.81 in the same period last year[8] - The net profit attributable to shareholders was ¥84,075,310.30, up 19.40% from ¥70,416,381.36 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥55,657,921.82, reflecting a 20.14% increase from ¥46,326,348.25 in the previous year[8] - The basic earnings per share increased to ¥0.0660, up 20.00% from ¥0.0550 in the previous year[8] - The company expects net profit attributable to shareholders for the first half of 2018 to be between CNY 158.398 million and CNY 187.198 million, representing a year-on-year increase of 10.00% to 30.00%[23] - The increase in net profit is attributed to continuous growth in sales revenue driven by strengthened domestic and international market expansion[23] Cash Flow - The net cash flow from operating activities was ¥5,755,611.06, a 25.32% increase compared to ¥4,592,606.57 in the same period last year[8] - Net cash flow from investment activities decreased by 55.7% compared to the same period last year, mainly due to a reduction in investment financial products[17] - Net cash flow from financing activities increased by CNY 14.1482 million year-on-year, primarily due to an increase in working capital loans[17] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,082,873,594.58, a 1.27% increase from ¥3,044,305,214.35 at the end of the previous year[8] - The net assets attributable to shareholders increased by 3.45% to ¥2,521,111,596.71 from ¥2,437,036,286.41 at the end of the previous year[8] - The company experienced a 37.04% decrease in accounts payable, attributed to payments made for previously unpaid project construction costs[16] - The company increased its prepayments for raw materials, resulting in an increase of ¥8,307,600 compared to the beginning of the period[16] Expenses and Charges - The company reported a 49.08% increase in operating costs compared to the same period last year, primarily due to sales growth and rising raw material prices[16] - Tax and additional charges increased by CNY 2.1058 million compared to the same period last year, mainly due to the increase in value-added tax payable[17] - Asset impairment losses increased by CNY 2.6275 million year-on-year, primarily due to the provision for bad debts resulting from increased sales[17] - Other income rose by CNY 5.1937 million compared to the previous year, mainly due to the reclassification of government subsidies related to daily activities from "non-operating income" to "other income" following the revision of accounting standards[17] - Income tax expenses grew by 40.66% year-on-year, primarily due to profit growth[17] Corporate Developments - The company’s self-developed QHRD107 capsule's clinical trial application was accepted by the CFDA in March 2018[18] - The company completed the granting of 100,000 reserved shares under the 2017 restricted stock incentive plan in March 2018[18]

常州千红生化制药股份有限公司 2017 年第三季度报告全文 常州千红生化制药股份有限公司 常州市新北区云河路 518 号 千红制药 二 O 一七年第三季度报告全文 股票简称：千红制药 股票代码：002550 披露时间：2017 年 10 月 24 日 1 常州千红生化制药股份有限公司 2017 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。 公司负责人王耀方、主管会计工作负责人肖爱群及会计机构负责人(会计主 管人员)肖爱群声明：保证季度报告中财务报表的真实、准确、完整。 2 常州千红生化制药股份有限公司 2017 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 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 2,895,879,302. ...

常州千红生化制药股份有限公司 2017 年半年度报告全文 常州千红生化制药股份有限公司 常州市新北区云河路 518 号 二 O 一七年半年度报告 股票简称：千红制药 股票代码：002550 披露时间：2017 年 8 月 22 日 1 常州千红生化制药股份有限公司 2017 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。 公司负责人王耀方、主管会计工作负责人肖爱群及会计机构负责人(会计主 管人员)肖爱群声明：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。 公司可能存在药品招标风险、新品研发风险、外部经济环境的不确定性风 险、产品质量风险、产品销售价格波动的风险、经营成本增加的风险、行业竞 争加剧的风险、汇率波动的风险等。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 | 重要提示、目录和释义 2 | | --- | --- | | 第二节 | 公司简介和主要财务指标 5 | | 第三节 | ...