Financial Performance - The company reported a significant increase in revenue, reaching RMB 1.2 billion, representing a growth of 15% year-over-year[24] - The net profit for the year was RMB 150 million, which is a 10% increase compared to the previous year[24] - The company's operating revenue for 2019 was ¥567,637,225.78, a decrease of 14.59% compared to ¥664,593,783.42 in 2018[27] - Net profit attributable to shareholders was ¥63,383,506.76, a significant increase of 161.09% from a loss of ¥95,789,054.12 in 2018[27] - The net profit after deducting non-recurring gains and losses was ¥24,661,070.92, up 122.02% from a loss of ¥88,574,215.51 in the previous year[27] - The company's cash flow from operating activities was ¥48,414,581.64, down 72.25% from ¥174,483,553.81 in 2018[27] - Basic and diluted earnings per share were both ¥0.0961, compared to a loss of ¥0.1452 in 2018, marking a turnaround of 161.09%[27] - The total assets at the end of 2019 were ¥3,413,954,103.89, a decrease of 20.73% from ¥4,298,453,211.03 in 2018[27] - The weighted average return on equity was 2.43%, recovering from -3.33% in 2018[27] - The company reported a significant decline in operational performance compared to the previous year, impacting future funding needs[126] Market Expansion and Strategy - User data showed an increase in active users by 20%, totaling 5 million active users by the end of the year[24] - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share within the next three years[24] - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach[24] - The company is actively pursuing external growth through mergers and acquisitions to strengthen its core competitiveness[45] - The company plans to enhance market development for its products, including the interferon spray "Jiefu," and aims to expand marketing channels[111] Research and Development - New product development includes a pipeline of three innovative drugs expected to enter clinical trials in 2020[24] - The company has allocated RMB 200 million for research and development in the upcoming fiscal year, a 30% increase from the previous year[24] - The company has established multiple biopharmaceutical research platforms and collaborates with renowned research institutions to improve its R&D capabilities[45] - The number of R&D personnel decreased by 6.48% to 101, while the proportion of R&D personnel increased to 13.15%[81] - The company has increased its focus on the development of new products and technologies, particularly in collaboration with domestic research institutions[80] Compliance and Regulatory Issues - The audit report from Zhongxi CPA indicated a qualified opinion, highlighting certain financial discrepancies that need addressing[5] - The company received a warning letter from the Shandong Securities Regulatory Bureau regarding non-compliance in financial transactions with related parties[27] - The company has committed to avoiding conflicts of interest and ensuring that the controlling shareholders do not engage in competitive activities that could harm the company[164] - The company is focused on maintaining compliance with relevant laws and regulations regarding its operations and transactions[193] Financial Management and Dividends - There are no plans to distribute cash dividends or issue bonus shares for the year[6] - The company did not propose any cash dividend distribution for 2019, maintaining a 0.00% payout ratio[123] - The company has not distributed dividends for the past three years, with the last reported net profit in 2017 being ¥387,745,731.93[123] - The company plans to retain profits for operational needs rather than distribute them to shareholders[126] Asset Management and Investments - The company has committed to not distributing dividends or increasing capital through stock dividends for the 2019 fiscal year[127] - The company completed the acquisition of Jilin Weiming Tianren Traditional Chinese Medicine Technology Development Co., Ltd., with a 100% equity stake obtained on December 13, 2019[71] - The company has established a framework for evaluating the assets of its subsidiaries to ensure fair acquisition pricing[179] - The company has committed to compensating for any economic losses incurred by the listed company due to non-compliance with its commitments[190] Operational Efficiency - The company has implemented new strategies to improve operational efficiency, aiming for a 15% reduction in operational costs by the end of 2020[24] - The company is focusing on deepening the development of nerve growth factors and improving production processes to increase yield and reduce energy consumption[112] - The company aims to complete the trial production of the CDMO Phase I project and explore integrated CDMO processes to enhance profitability[112] Risks and Challenges - The company faces risks from policy changes affecting drug pricing and will strengthen its sales team to enhance competitiveness[113] - The company is addressing R&D risks by optimizing project selection and improving R&D capabilities[115] - The company is committed to improving environmental compliance and reducing costs amid increasing regulatory pressures[115] - The company plans to diversify its product offerings to mitigate risks associated with product concentration in revenue generation[115]

Financial Performance - The company's operating revenue for Q1 2020 was ¥101,885,863.74, a decrease of 19.25% compared to ¥126,174,347.60 in the same period last year[8]. - The net profit attributable to shareholders was -¥62,820,716.49, representing a decline of 385.98% from -¥12,926,715.18 in the previous year[8]. - The net cash flow from operating activities was -¥12,686,936.93, a decrease of 113.84% compared to ¥91,695,907.86 in the same period last year[8]. - The basic earnings per share were -¥0.0952, down 385.71% from -¥0.0196 in the previous year[8]. - The total operating costs for Q1 2020 were approximately CNY 140.02 million, compared to CNY 134.28 million in the same period last year, reflecting an increase of about 4.9%[99]. - The net profit for Q1 2020 was a loss of CNY 48.67 million, compared to a loss of CNY 9.78 million in Q1 2019, indicating a significant increase in losses[101]. - The total comprehensive loss for Q1 2020 was CNY -48.67 million, compared to CNY -9.78 million in the same period last year[103]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,363,143,790.43, a decrease of 3.14% from ¥3,472,315,962.96 at the end of the previous year[8]. - The total liabilities decreased from CNY 1,024,067,961.03 to CNY 963,563,389.12, representing a reduction of approximately 5.9%[93]. - The total equity attributable to shareholders decreased from CNY 2,375,469,716.01 to CNY 2,312,648,999.52, a decline of approximately 2.6%[93]. - The company's cash and cash equivalents were CNY 901,055,670.57, down from CNY 991,194,836.16 at the end of 2019, indicating a decline of approximately 9.1%[87]. - The company's short-term borrowings remained stable at CNY 150,500,000.00, slightly up from CNY 150,000,000.00[89]. - The total current liabilities increased from CNY 235,867,369.47 to CNY 245,116,694.77, an increase of about 3.3%[93]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 43,574[11]. - The largest shareholder, Beijing Peking University Weiming Biological Engineering Group Co., Ltd., held 26.73% of the shares[11]. - The company has established a commitment to protect the legitimate rights and interests of minority shareholders[48]. - The company confirmed that all commitments made to minority shareholders were fulfilled on time[76]. Government Support and Subsidies - The company received government subsidies amounting to ¥2,720,066.56 during the reporting period[8]. - Other income increased by 235.62% year-on-year, mainly due to an increase in government subsidies received[18]. Management and Expenses - Management expenses increased by 46.14% year-on-year, mainly due to rising management costs[18]. - Financial expenses increased by 206.60% year-on-year, primarily due to a decrease in interest income from deposits[18]. - Research and development expenses for Q1 2020 amounted to CNY 12.32 million, up from CNY 10.37 million in the previous year, representing a growth of approximately 18.8%[99]. - The company's sales expenses decreased to CNY 65.46 million in Q1 2020 from CNY 79.41 million in Q1 2019, showing a reduction of about 17.6%[99]. Strategic Plans and Acquisitions - The company plans to acquire the equity of Anhui Weiming and Jiangsu Weiming after they achieve necessary production licenses and start generating profits[56]. - The company is focused on expanding its market presence through strategic acquisitions and partnerships in the biopharmaceutical sector[56]. - The company is in the process of completing the acquisition procedures for the equity of Weiming Group within three months of receiving the acquisition notice[60]. Cash Flow and Investments - Cash inflow from operating activities totaled 110,288,496.78 CNY, down 38.3% from 178,735,818.71 CNY in the previous year[111]. - Net cash flow from financing activities was -71,698,975.61 CNY, compared to -330,905,031.95 CNY in the previous year, indicating a reduced outflow[112]. - The company reported no securities investments, entrusted financial management, or derivative investments during the reporting period[77][78][79]. Compliance and Commitments - The company commits to ensuring that any related party transactions will adhere to market principles and will be conducted at fair and reasonable prices[70]. - The company will ensure compliance with relevant laws and regulations in all related party transactions to protect the interests of minority shareholders[70].

Financial Performance - Operating revenue for the reporting period was CNY 134,829,771.33, a decrease of 32.29% year-on-year[9]. - Net profit attributable to shareholders increased by 238.11% to CNY 23,664,052.46 compared to the same period last year[9]. - Basic earnings per share rose by 238.68% to CNY 0.0359, while diluted earnings per share also increased by 238.68% to CNY 0.0359[9]. - The company's net profit attributable to shareholders for Q3 2019 was not explicitly stated but can be inferred from the changes in retained earnings and total equity[94]. - The net profit for Q3 2019 was CNY 26,006,095.60, a significant increase from CNY 8,113,025.03 in the same period last year, representing a growth of approximately 220.5%[97]. - The profit attributable to the parent company's shareholders was CNY 23,664,052.46, up from CNY 6,998,878.50 year-over-year, marking a growth of approximately 237.5%[98]. - The total profit for the quarter was CNY 25,628,791.91, compared to CNY 16,780,062.30 in Q3 2018, which is an increase of approximately 53.7%[97]. - The company reported a significant increase in other receivables, rising to CNY 850,783,283.46 from CNY 152,360,691.73 year-on-year, indicating potential cash flow issues[88]. Asset and Liability Management - Total assets at the end of the reporting period decreased by 9.70% to CNY 3,881,504,046.13 compared to the end of the previous year[9]. - The company's current assets totaled CNY 1,872,389,439.90, down from CNY 2,523,421,889.72 in December 2018, indicating a decline of approximately 25.8%[84]. - The total liabilities decreased to CNY 996,934,266.17 from CNY 1,471,423,356.40, reflecting a reduction of about 32.2%[85][86]. - The company's total liabilities were CNY 701,203,010.83, down from CNY 812,709,350.21 at the end of 2018, indicating a reduction in financial obligations[92]. - The total assets amounted to 4,298,453,211.03 CNY, with current assets totaling 2,523,421,889.72 CNY[119]. - The total liabilities reached CNY 812,709,350.21, with current liabilities totaling CNY 19,742,575.51 and non-current liabilities at CNY 792,966,774.70[129]. Cash Flow Analysis - Cash flow from operating activities decreased by 79.45% to CNY 1,865,130.36 compared to the same period last year[9]. - Cash and cash equivalents decreased by 34.25% compared to the beginning of the year, primarily due to the repayment of short-term loans[22]. - Cash inflow from operating activities was 530,757,161.73 CNY, down 18.06% from 647,537,608.59 CNY in the previous period[112]. - Cash outflow from operating activities totaled 492,326,355.24 CNY, resulting in a net cash flow from operating activities of 38,430,806.49 CNY, an increase of 20.56% from 31,946,142.28 CNY[113]. - The ending balance of cash and cash equivalents was 1,016,349,364.07 CNY, down from 1,866,351,505.89 CNY at the beginning of the period[114]. - The total cash and cash equivalents at the end of the period was 94,257,638.89 CNY, down from 927,553,596.64 CNY at the beginning of the period, reflecting a decrease of 833,295,957.75 CNY[117]. Investment and R&D - Research and development expenses increased by 71.11% compared to the previous period, reflecting increased investment in R&D[22]. - Research and development expenses for Q3 2019 were CNY 9,707,206.05, showing a slight decrease from CNY 9,874,969.36 in the previous year[95]. - Investment income increased by 12,723.59% compared to the previous period, primarily due to the recognition of investment income from Beijing Kexing[22]. - The main products include injectable nerve growth factor "Enjingfu" and gene-engineered interferon "Anfulong" focusing on the research, production, and sales of biopharmaceuticals[49]. Shareholder and Corporate Governance - The number of ordinary shareholders at the end of the reporting period was 32,836[12]. - The top ten shareholders held a combined 66.73% of the company's shares, with Beijing Peking University Weiming Biological Engineering Group Co., Ltd. holding 26.73%[13]. - The company committed to avoiding direct or indirect competition with its subsidiaries and will not engage in activities that harm the interests of shareholders[51]. - The controlling shareholder, Beijing Peking University Weiming Biological Engineering Group Co., Ltd., will ensure compliance with commitments to avoid conflicts of interest[49]. - The company is committed to transparency and will notify stakeholders of any potential issues affecting the implementation of the profit compensation agreement[47]. - The company has established a framework to regulate related transactions post-major asset restructuring, aiming to protect the interests of the listed company and minority shareholders[67]. Compliance and Regulatory Matters - The company guarantees strict adherence to Chinese securities regulations in all transactions and commitments made[69]. - The company did not engage in any repurchase transactions during the reporting period[19]. - There were no violations regarding external guarantees during the reporting period[75]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[76]. - The company did not engage in any entrusted financial management activities during the reporting period[77].

Financial Performance - The company reported a revenue of 1.2 billion RMB for the year 2018, representing a year-on-year increase of 15%[18] - The net profit attributable to shareholders was 150 million RMB, a decrease of 10% compared to the previous year[18] - The company's operating revenue for 2018 was ¥664,593,783.42, a decrease of 42.83% compared to ¥1,162,416,642.55 in 2017[26] - The net profit attributable to shareholders for 2018 was -¥95,789,054.12, representing a decline of 124.66% from ¥388,411,585.68 in 2017[28] - The overall revenue for the company in 2018 was approximately ¥664.59 million, representing a decrease of 42.83% compared to ¥1.16 billion in 2017[63] - The total profit amounted to -¥83,175,449.73, reflecting a year-on-year decline of 117.86%[55] - The company reported a basic earnings per share of -¥0.1452 for 2018, a decrease of 124.66% from ¥0.5887 in 2017[28] - The weighted average return on net assets was -3.33% in 2018, down from 14.27% in 2017[28] - The company recorded non-operating losses totaling -¥7,214,838.61 in 2018, compared to a gain of ¥6,397,118.03 in 2017[36] Research and Development - The company plans to invest 200 million RMB in R&D for new biopharmaceutical products in 2019[18] - The company has established a comprehensive biological drug research and development system with over 6,000 square meters of R&D facilities[51] - The company reported a total of 12 R&D projects in 2018, with approved funding amounting to ¥603.11 million[56] - The company is focusing on the development of nerve growth factor series products and cytokine drugs, with its main product being the injection of mouse nerve growth factor[42] - The company is committed to fulfilling all promises made in the acquisition report, ensuring transparency and accountability[124] - The company has reported a significant focus on research and development in the biopharmaceutical sector, particularly in gene therapy and diagnostics[169] Market Expansion and Strategy - Future guidance indicates a projected revenue growth of 20% for 2019, targeting 1.44 billion RMB[18] - The company is expanding its market presence in Southeast Asia, with plans to enter three new countries by the end of 2019[18] - A strategic acquisition of a local biotech firm is in progress, expected to enhance product offerings and market reach[18] - The company has formed strategic partnerships with major global companies such as Syngenta and Bayer, enhancing its market presence[48] - The company is focusing on expanding its market presence in private hospitals and outpatient sales in response to changing pharmaceutical policies[62] - The company plans to enhance market development for its products, particularly focusing on the interferon spray "Jiefu" and improving sales management systems[108] - The company is actively expanding its market presence through strategic partnerships and potential mergers and acquisitions[166] Financial Management and Cash Flow - The net cash flow from operating activities in 2018 was ¥74,456,075.43, down 72.54% from ¥271,106,655.26 in 2017[28] - Operating cash inflow for 2018 was CNY 1,187,331,551.83, an increase of 14.45% compared to CNY 1,037,388,720.27 in 2017[80] - Operating cash outflow increased by 45.23% to CNY 1,112,875,476.40 from CNY 766,282,065.01 in the previous year[80] - Net cash flow from investment activities was CNY -613,299,195.82, a 439.16% increase in outflow compared to CNY -113,749,824.33 in 2017[80] - The net increase in cash and cash equivalents was CNY -270,666,616.56, a decline of 125.93% compared to an increase of CNY 1,043,693,212.80 in 2017[83] Dividend Policy - The company has no plans to distribute cash dividends or issue bonus shares for the year[9] - The company did not distribute cash dividends in the reporting period, nor did it issue bonus shares or convert capital reserves into share capital[120] - In the past three years, the cash dividend amount was consistently 0.00, with net profits of -95,789,054.12 in 2018, 388,411,585.68 in 2017, and 417,695,144.79 in 2016[119] - The company has not made any cash dividend distributions in the last three years, reflecting a focus on reinvestment rather than shareholder payouts[120] Challenges and Risks - The company faced challenges due to national healthcare reforms impacting revenue, particularly in the nerve growth factor and interferon markets[62] - The company faces risks related to policy changes, R&D challenges, and environmental regulations, which could impact profitability[109] - The overall pharmaceutical industry has seen a decline in profit growth since 2018, influenced by various external factors[106] Asset Management and Investments - The company’s investment in construction projects increased by 698.17% compared to the end of 2017, primarily due to investments in a biological economy incubator and CMO projects in Hefei[46] - The company has not sold any significant assets during the reporting period[101] - The company has not sold any significant equity during the reporting period[104] - The company strictly adheres to the use of raised funds as per public commitments and disclosures[99] Shareholder Commitments - The company plans to repurchase shares at a total price of RMB 1 per share within one month after the shareholders' meeting approval[154] - The company has established a clear formula for calculating compensation amounts and share quantities in case of unmet performance commitments[133] - The company guarantees to avoid any illegal occupation of its funds, assets, or resources by related parties[193] - The commitment to small shareholders has been fulfilled on time[199]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2018, representing a year-on-year increase of 15%[18]. - The net profit attributable to shareholders was RMB 150 million, a decrease of 10% compared to the previous year[18]. - The company's operating revenue for 2018 was ¥664,593,783.42, a decrease of 42.83% compared to ¥1,162,416,642.55 in 2017[26]. - The net profit attributable to shareholders for 2018 was -¥95,789,054.12, representing a decline of 124.66% from ¥388,411,585.68 in 2017[28]. - The net cash flow from operating activities decreased by 72.54% to ¥74,456,075.43 in 2018 from ¥271,106,655.26 in 2017[28]. - The total profit amounted to -¥83,175,449.73, reflecting a year-on-year decline of 117.86%[55]. - The company reported a basic earnings per share of -¥0.1452 for 2018, down 124.66% from ¥0.5887 in 2017[28]. - The weighted average return on net assets was -3.33% in 2018, a significant drop from 14.27% in 2017[28]. - The overall revenue for the company in 2018 was approximately ¥664.59 million, representing a 42.83% decrease compared to ¥1.16 billion in 2017[63]. - The company reported a significant decrease in sales volume in the chemical raw materials sector, down 93.33% year-on-year, primarily due to the suspension of operations at a subsidiary[70]. Research and Development - The company plans to invest RMB 200 million in R&D for new biopharmaceutical products in 2019, focusing on innovative therapies[18]. - The company has established a comprehensive biopharmaceutical R&D system with over 6,000 square meters of R&D space and advanced precision instruments[45]. - The company reported a total of 12 R&D projects in 2018, with approved funding amounting to ¥603.11 million[56]. - The company is focusing on developing nerve growth factor series products and cytokine drugs, with its main product being the first approved clinical nerve growth factor drug in the world[42]. - The company aims to deepen the development of nerve growth factors and accelerate the research and clinical trials for new indications, including diabetic foot[109]. - The company acknowledges R&D risks associated with the lengthy and costly drug development process, emphasizing the need for improved R&D capabilities[109]. Market Expansion and Strategy - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 30% increase in market share by 2020[18]. - User data indicates a growth in customer base by 20%, reaching 1 million active users by the end of 2018[18]. - The company is actively exploring external growth through mergers and acquisitions to enhance its core competitiveness[45]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in sales in that region over the next two years[138]. - A strategic acquisition of a smaller biotech firm was completed, which is anticipated to enhance the company's R&D capabilities and add 500 million RMB in annual revenue[139]. Financial Management and Investments - No cash dividends will be distributed to shareholders for the year 2018, as the company focuses on reinvestment[9]. - The company has committed to significant investments in projects such as the CMO project and potential privatization efforts, indicating a focus on long-term growth[115]. - The company’s investment in construction projects increased by 698.17% compared to the end of 2017, primarily due to investments in a biopharmaceutical incubator and CMO projects[46]. - The company plans to conduct a comprehensive impairment test on its assets, with a potential impact of up to 100 million RMB on its financials if significant impairments are identified[142]. - The company has not declared any cash dividends in the last three years, reflecting a strategy focused on reinvestment rather than shareholder payouts[115]. Operational Challenges - The company faced challenges due to regulatory changes and market conditions, impacting the sales of nerve growth factor and interferon products[61]. - The company is implementing a sales-driven production model, facing challenges from intensified competition and declining sales prices in the market[93]. - Environmental risks are increasing due to stricter regulations, prompting the company to enhance production technology to reduce costs[109]. - The company plans to diversify its product offerings to mitigate risks associated with revenue concentration from a few key products[109]. Corporate Governance and Compliance - The company guarantees compliance with relevant laws and regulations, ensuring the protection of the interests of the company and minority shareholders[188]. - The company has not experienced any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[198]. - The company received a qualified audit opinion from Zhongxi Accounting Firm for its 2018 financial statements, with detailed explanations provided by the board of directors[199]. - There were no changes in accounting policies, estimates, or methods during the reporting period[200].

Financial Performance - The company's revenue for Q1 2019 was ¥126,174,347.60, a decrease of 14.25% compared to ¥147,149,643.83 in the same period last year[9]. - The net profit attributable to shareholders was -¥12,926,715.18, representing a decline of 115.69% from ¥82,372,632.77 in the previous year[9]. - The basic earnings per share were -¥0.0196, a decrease of 115.69% compared to ¥0.1249 in the same period last year[9]. - The diluted earnings per share were also -¥0.0196, reflecting the same decline as basic earnings per share[9]. - The weighted average return on equity was -0.47%, down from 2.84% in the previous year[9]. - The total comprehensive income attributable to the parent company was -12,926,715.18 CNY, compared to 82,372,632.77 CNY in the previous period[136]. - Net profit for Q1 2019 was a loss of CNY 9,779,289.94, compared to a profit of CNY 82,202,345.01 in the previous year, indicating a significant decline[132]. Cash Flow and Assets - The net cash flow from operating activities increased by 19.65% to ¥91,695,907.86, compared to ¥76,636,993.46 in the same period last year[9]. - The total assets at the end of the reporting period were ¥3,972,383,771.58, down 7.59% from ¥4,298,453,211.03 at the end of the previous year[9]. - The cash and cash equivalents decreased to CNY 1,289,304,923.34 from CNY 1,545,695,278.42, representing a decline of about 16.6%[109]. - Current assets totaled CNY 587,355,066.73, down from CNY 1,081,569,769.54, a decrease of 45.4%[122]. - The company's total assets as of March 31, 2019, were CNY 4,900,080,079.40, slightly up from CNY 4,894,328,830.26 at the end of 2018[128]. - The ending balance of cash and cash equivalents was 223,775,136.70, down from 842,163,236.12 at the end of the previous period[156]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,929[12]. - The management emphasized a commitment to maintaining shareholder value through consistent dividend payouts, with a proposed dividend of RMB 0.5 per share[45]. - Minority shareholder profit increased by 1948.3% compared to the same period last year, mainly due to the turnaround of Tianjin Weiming from a slight loss to profit[21]. Operational Changes and Future Plans - The company plans to establish a joint venture to produce and sell various chemical products due to production suspension caused by raw material supply interruption and government land requisition[22]. - The joint venture company completed its business registration and obtained a business license in April 2019[22]. - The company expects a revenue growth of 10% for the next quarter, projecting total revenue of RMB 1.65 billion[45]. - New product launches include a novel peptide drug, which is expected to contribute an additional RMB 300 million in revenue by the end of the year[45]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by 2021[45]. - A strategic acquisition of a biotech firm was completed, valued at RMB 500 million, aimed at enhancing R&D capabilities[45]. - The company plans to invest RMB 200 million in new technology development over the next two years[45]. Liabilities and Expenses - The total liabilities decreased to CNY 1,155,133,206.89 from CNY 1,471,423,356.40, reflecting a reduction of about 21.4%[115]. - Financial expenses decreased by 61.44% compared to the same period last year, primarily due to an increase in interest income from deposits[21]. - Management expenses decreased to 3,504,357.90 CNY from 5,099,327.67 CNY in the previous period, a reduction of approximately 31.3%[137]. - Research and development expenses for the quarter were CNY 10,366,308.01, up from CNY 7,220,441.16, an increase of 43.0%[129]. Compliance and Governance - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[104]. - There were no violations regarding external guarantees during the reporting period[103]. - The company has committed to maintaining compliance with relevant laws and regulations post-transaction completion[100]. - Related party transactions will be conducted at fair market prices, ensuring compliance with legal and regulatory requirements to protect the interests of the company and minority shareholders[94]. - The company will strictly adhere to the regulations set forth by the China Securities Regulatory Commission and other relevant authorities to ensure lawful procedures in all transactions[96].

1 山东未名生物医药股份有限公司 2018 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。 山东未名生物医药股份有限公司 2018 年第三季度报告全文 山东未名生物医药股份有限公司 2018 年第三季度报告 2018 年 10 月 一、主要会计数据和财务指标 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 公司负责人潘爱华、主管会计工作负责人方言及会计机构负责人(会计主管 人员)陈佳宁声明：保证季度报告中财务报表的真实、准确、完整。 □ 是 √ 否 2 | | 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） | 4,270,892,991.13 | | 3,998,439,815.42 | 6.81% | | 归属于上市公司股东的净资产 （元） | 2,870,486,180.18 | | 2,857,893,265.92 | 0. ...

Financial Performance - The company's operating revenue for the first half of 2018 was approximately ¥293.78 million, a decrease of 44.60% compared to ¥530.27 million in the same period last year[17]. - The net profit attributable to shareholders was approximately ¥5.59 million, down 96.84% from ¥176.79 million in the previous year[17]. - The net cash flow from operating activities was approximately ¥22.87 million, representing an 80.01% decline from ¥114.40 million in the same period last year[17]. - The basic earnings per share decreased to ¥0.0085, down 96.85% from ¥0.27 in the previous year[17]. - Operating profit fell to CNY 988,300, down 95.12% year-on-year, while net profit attributable to shareholders was CNY 559,400, a decline of 96.84%[36]. - The company reported a total profit of CNY 10,490,092.93, significantly lower than CNY 203,852,449.20 in the previous year, indicating a decline of approximately 94.9%[171]. - The profit attributable to the parent company's shareholders was CNY 5,594,035.76, down from CNY 176,792,824.64, a decrease of about 96.8%[172]. - The company reported a significant decline in domestic customer revenue, totaling approximately ¥291.82 million, down 39.94% year-over-year, with a gross margin of 82.91%[44]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥4.30 billion, an increase of 7.55% from ¥3.99 billion at the end of the previous year[17]. - The total liabilities amounted to CNY 1,376,966,536.23, up from CNY 1,078,853,139.30, marking an increase of about 27.7%[163]. - Owner's equity totaled CNY 2,923,415,183.20, slightly up from CNY 2,919,586,676.12, showing a marginal increase of about 0.1%[164]. - The company's cash and cash equivalents amounted to approximately ¥1.85 billion, accounting for 43.02% of total assets, an increase from 30.50% in the previous year[47]. - The company's current ratio decreased to 486.48% from 1,051.87%, a decline of 565.39%[152]. - The debt-to-asset ratio increased to 32.02% from 26.98%, an increase of 5.04%[152]. Operational Challenges - The full subsidiary Shandong Weiming Tianyuan Biotechnology Co., Ltd. has been fully suspended since May 8, 2018, leading to a significant decline in revenue and profit[6]. - The company faces various operational risks, which are detailed in the report, and investors are advised to read the risk management section carefully[6]. - The decline in performance is primarily attributed to the suspension of Tianyuan and the inability to obtain financial statements from Beijing Kexing Biological Products Co., Ltd. for calculating investment income[70]. - The company is actively seeking suitable relocation sites for its wholly-owned subsidiary, Shandong Weiming Tianyuan, which has been suspended since May 2018[37]. - The company has faced management issues at Beijing Kexing, leading to a lack of timely financial data and potential audit challenges[97]. Research and Development - The company has established a comprehensive biopharmaceutical R&D system with over 6,000 square meters of R&D facilities and advanced imported equipment[28]. - The company is focusing on deepening the development of nerve growth factor products, aiming to improve yield and reduce energy consumption per unit product[37]. - The biopharmaceutical industry is experiencing a shift towards innovation, with the company focusing on high-quality drug development amidst tightening regulations on generic drugs[27]. - The company plans to accelerate the development of new indications and formulations for nerve growth factor products, including eye drops and water injections[37]. Market Position and Strategy - The company is positioned among the top 30 biopharmaceutical companies in China, reflecting its significant market presence and competitive advantage[30]. - The company has formed strategic partnerships with major global companies such as Syngenta and Bayer, enhancing its market position[32]. - The company is focusing on mergers and acquisitions in the fields of cytokines, peptides, and antibody drugs to enrich its product portfolio[37]. - The company plans to enhance market share for key products, accelerate new product launches, and explore acquisitions and collaborations to diversify its product range[73]. Compliance and Governance - The company is committed to fulfilling its promises regarding avoiding competition and related party transactions as part of its restructuring efforts[79]. - The company guarantees that it and its controlled subsidiaries will not engage in any business that directly or indirectly competes with the listed company[81]. - The company has made commitments to avoid illegal use of funds and resources from its subsidiaries[91]. - The company has pledged to comply with all relevant laws and regulations regarding related party transactions[90]. Cash Flow and Financing - The company reported a cash balance of approximately 1.85 billion RMB at the end of the reporting period, up from 1.82 billion RMB at the beginning[161]. - Cash inflow from financing activities amounted to ¥350,000,000.00, with a net cash flow of ¥339,270,190.30 after outflows[180]. - The company’s liquidity indicators, such as the quick ratio, also saw a significant decline to 477.49% from 1,028.48%[152]. - The company reported a significant increase in cash received from other operating activities, totaling ¥43,211,386.23, compared to ¥6,873,210.83 in the previous period[179]. Environmental and Regulatory Issues - The company is classified as a key pollutant discharge unit by environmental protection authorities[123]. - The company has installed online monitoring devices for wastewater discharge and uploads data to the local environmental authority[125]. - Environmental risks are increasing as regulatory scrutiny intensifies, necessitating improvements in production technology to reduce environmental costs[72]. Shareholder Information - The total number of shares after the recent changes is 659,735,500, with 39.25% being limited shares and 60.75% being unrestricted shares[131]. - The largest shareholder, Beijing Peking University Unnamed Biological Engineering Group Co., Ltd., holds 26.94% of the shares, totaling 177,716,500 shares[135]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[136].

Financial Performance - The company's operating revenue for 2017 was ¥1,162,416,642.55, representing a decrease of 8.10% compared to ¥1,264,879,436.13 in 2016[17]. - The net profit attributable to shareholders decreased by 7.01% to ¥388,411,585.68 compared to ¥417,695,144.79 in the previous year[18]. - The net profit after deducting non-recurring gains and losses also fell by 7.05% to ¥382,014,467.65 from ¥410,986,157.21[18]. - The company reported a basic earnings per share of ¥0.5887, down from ¥0.6331, reflecting a decrease of 7.01%[18]. - Total assets rose by 48.78% to ¥3,998,439,815.42 from ¥2,687,542,015.32 at the end of the previous year[18]. - The net assets attributable to shareholders increased by 15.73% to ¥2,857,893,265.92 compared to ¥2,469,481,680.24 at the end of the previous year[18]. - The company achieved operating revenue of 1,162.42 million yuan, a year-on-year decrease of 8.10%[39]. - Operating profit reached 466.69 million yuan, an increase of 4.36% year-on-year[39]. - The company reported a significant increase in technology transfer fees, which rose to CNY 52,000,000.00, a 766.67% increase from CNY 6,000,000.00 in 2016[44]. - The company reported a net profit of CNY 388,411,585.68 for the year 2017, with no cash dividends proposed due to anticipated operational funding needs[81]. Strategic Initiatives - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[6]. - The company is focusing on the development of nerve growth factor series products and cytokine drugs, with its main product being the injection of mouse nerve growth factor, which is the first of its kind approved for clinical use in the world[27]. - The company plans to enrich its product portfolio through mergers and acquisitions, particularly in cytokines, peptides, and antibody drugs[39]. - The company is committed to developing new indications and formulations for its existing products, particularly in the area of nerve growth factor and diabetes-related treatments[73]. - The company will pursue mergers and acquisitions to enrich its product portfolio and balance production capabilities across its facilities[73]. - The company is focusing on expanding its product range through acquisitions and collaborations to mitigate concentration risks associated with a few key products[76]. - The company plans to enhance its sales team and improve its existing sales system to strengthen its core competitiveness in response to market changes[75]. - The company is committed to enhancing internal management and operational efficiency to reduce costs and increase effectiveness[39]. Research and Development - The company has formed a comprehensive biopharmaceutical R&D system with over 6,000 square meters of R&D space and advanced precision instruments[36]. - R&D expenditure for the year was CNY 39,018,965.93, accounting for 3.36% of total revenue, a slight decrease from 3.48% in 2016[52]. - The number of R&D personnel increased by 11.61% to 125, representing 13.68% of the total workforce[52]. - The company is focusing on deepening the development of nerve growth factor products and accelerating the advancement of new indications and dosage forms[39]. - The company is planning to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[97]. Market Position and Partnerships - The company has established itself as a leading biopharmaceutical enterprise in Fujian Province and ranks among the top 30 biopharmaceutical companies in China[29]. - The company has formed strategic partnerships with major global and domestic enterprises, including Syngenta and Bayer, enhancing its market position[29]. - The pharmaceutical industry is experiencing a shift towards innovation due to stricter regulations and cost control measures, positioning the company for future growth opportunities[29]. Compliance and Governance - The company has maintained strict compliance with fundraising commitments, ensuring that funds are used as publicly promised[66]. - The company has committed to ensuring compliance with legal and regulatory requirements in its operations and management practices[110]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring fair treatment of all shareholders[192]. - The company has not reported any significant changes in the actual controllers during the reporting period, maintaining stability in governance[161]. Environmental and Safety Measures - The company emphasizes its commitment to safety and environmental protection, achieving no safety production accidents during the year[139]. - The company has a wastewater treatment facility that operates normally, utilizing a multi-step treatment process to ensure compliance with discharge standards[144]. - The company has installed online monitoring equipment for wastewater discharge and uploads data to local environmental authorities[144]. - The company has established emergency response plans for environmental incidents, including specific plans for various types of leaks and accidents[143]. Shareholder Structure - The largest shareholder, Beijing Peking University Weiming Biological Engineering Group Co., Ltd., holds 174,016,552 shares, accounting for 26.38% of the total shares[157]. - The second-largest shareholder, Gao Baolin, holds 54,463,500 shares, representing 16.51% of the total shares[157]. - The company has a total of 23,446 common shareholders at the end of the reporting period[157]. - The company has not engaged in any repurchase transactions during the reporting period, indicating a stable shareholder structure[159]. Employee Management - The total number of employees in the company is 914, with 301 in production, 415 in sales, 109 in technology, 23 in finance, and 66 in administration[187]. - The company has implemented a performance-based compensation mechanism for employees, ensuring alignment between individual performance and company results[188]. - The company has established a comprehensive training program covering all levels of management and staff, enhancing operational efficiency[189]. - The company has a total compensation for directors, supervisors, and senior management amounting to CNY 6.4457 million[186].

Financial Performance - Revenue for Q1 2018 was CNY 147,149,643.83, a decrease of 45.69% compared to CNY 270,952,367.18 in the same period last year[8] - Net profit attributable to shareholders was CNY 82,372,632.77, an increase of 6.63% from CNY 77,249,472.83 year-on-year[8] - Basic earnings per share for Q1 2018 were CNY 0.1249, a 4.08% increase from CNY 0.12 in the same period last year[8] - The weighted average return on equity was 2.84%, down from 3.08% in the previous year[8] - Operating costs decreased by 70.7% compared to the same period last year, primarily due to the same reasons mentioned previously[16] - Financial expenses increased by 381.38% year-on-year, mainly due to the interest expenses accrued from corporate bonds[16] - Investment income increased by 591.67% year-on-year, primarily due to increased profits from the company's subsidiaries[16] - The net profit attributable to shareholders for the first half of 2018 is expected to range from 12,677.81 to 17,803.35 thousand yuan, representing a decrease of 28.29% to an increase of 0.70% compared to the same period in 2017[47] - The net profit for the first half of 2017 was 17,679.28 thousand yuan[47] Cash Flow - Net cash flow from operating activities increased by 311.14% to CNY 76,636,993.46, compared to CNY 18,639,969.39 in the previous year[8] - The net cash flow from operating activities for the first quarter was ¥76,636,993.46, an increase from ¥18,639,969.39 in the previous period, representing a growth of approximately 310%[71] - Total cash inflow from financing activities amounted to ¥270,000,000.00, while cash outflow was ¥5,170,754.15, resulting in a net cash flow of ¥264,829,245.85[72] - The company reported a net cash increase of ¥171,239,666.34 for the quarter, compared to an increase of ¥8,962,597.34 in the previous period[72] - The cash flow from operating activities included ¥1,029,141,079.80 in cash inflows, with cash outflows totaling ¥952,504,086.34[71] - The company reported a significant increase in cash received from other operating activities, totaling ¥826,445,675.82 compared to ¥2,272,400.24 in the previous period[71] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,357,810,793.04, an increase of 8.99% from CNY 3,998,439,815.42 at the end of the previous year[8] - Long-term equity investments increased by 50.07% due to additional investments in affiliated enterprises[15] - Short-term borrowings increased by 350%, primarily due to bank loans for working capital[15] - Accounts payable decreased by 49.07% as a result of payments for prior year purchases[15] - Total liabilities increased to ¥1,356,021,771.91 from ¥1,078,853,139.30, which is an increase of approximately 25.7%[57] - Owner's equity rose to ¥3,001,789,021.13 from ¥2,919,586,676.12, showing an increase of about 2.8%[58] Business Operations - The company experienced a significant decrease in revenue due to production interruptions caused by environmental regulations affecting upstream suppliers[15] - The company has obtained necessary approvals for product production, including GMP certification and drug production licenses, and has started generating profits[36] - The company plans to acquire equity stakes in Anhui Weiming and Jiangsu Weiming after achieving profitability, with the acquisition price based on evaluations by qualified assessment institutions[36] - The company guarantees to complete the acquisition procedures for equity stakes in Beijing Weiming Pharmaceutical and Beijing Peking University Weiming Diagnostic Reagents by December 31, 2016[39] - The company will prioritize any business opportunities in pharmaceutical research and production that may compete with its operations[40] Related Party Transactions - The company commits to reducing and regulating related party transactions post-major asset restructuring, ensuring transactions are conducted at fair market prices[42] - The company has established a framework to avoid unnecessary related party transactions, adhering to market principles and legal regulations[42] - The company has a commitment to monitor the fulfillment of its promises regarding related party transactions and will compensate for any economic losses incurred due to non-compliance[40] Compliance and Commitments - The company is committed to obtaining property ownership certificates by December 31, 2015, and will compensate for any additional expenses or losses incurred if not obtained[45] - The company has made commitments regarding related party transactions and will avoid any illegal occupation of funds[44] - The company has a commitment to ensure compliance with relevant regulations and protect the interests of minority shareholders[44] - The company will notify shareholders promptly if any significant debts arise that may affect the implementation of the profit compensation agreement[31] Miscellaneous - The company did not conduct an audit for the first quarter report[77] - The company has not conducted any research, communication, or interview activities during the reporting period[51]