Financial Performance - The company's operating revenue for the first half of 2022 was ¥126,814,078.76, a decrease of 26.98% compared to ¥173,664,006.05 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was -¥1,813,831.34, representing a decline of 130.25% from ¥5,996,826.11 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥20,024,074.14, a decrease of 93.96% compared to -¥10,323,986.04 in the same period last year[22]. - The basic and diluted earnings per share were both -¥0.0045, a decrease of 145.00% from ¥0.01 in the same period last year[22]. - The weighted average return on net assets was -0.38%, down from 1.21% in the previous year[22]. - The company reported a total profit of -¥6.24 million for the first half of 2022, worsening from -¥2.46 million in the same period of 2021[161]. - The total comprehensive income for the first half of 2022 was -¥8.33 million, compared to -¥2.46 million in the first half of 2021, reflecting a worsening financial position[161]. Cash Flow and Investments - The net cash flow from operating activities improved by 28.26%, amounting to -¥5,933,898.11 compared to -¥8,271,445.49 in the previous year[22]. - The company’s investment activities generated a net cash outflow of CNY 67.71 million, a decrease of 235.72% due to reduced financial recoveries[44]. - The company reported a net cash outflow from investment activities of -67,707,160.06 CNY, compared to a positive inflow of 49,885,946.87 CNY in the previous year[165]. - Cash inflow from financing activities increased significantly to 65,382,403.00 CNY, compared to 20,398,640.00 CNY in the first half of 2021[166]. - The net cash flow from financing activities was positive at 60,234,308.56 CNY, a turnaround from -35,725,810.40 CNY in the same period last year[166]. Assets and Liabilities - Total assets at the end of the reporting period were ¥893,176,808.10, an increase of 4.52% from ¥854,556,164.94 at the end of the previous year[22]. - The company's total liabilities increased to CNY 315,513,938.49 from CNY 287,804,887.63, marking an increase of about 9.6%[155]. - The company's cash and cash equivalents at the end of the reporting period were approximately 8.27 million, a decrease of 1.60% from the previous year[54]. - The company's fixed assets accounted for 54.30% of total assets, with a value of approximately 485 million, down 4.41% from the previous year[54]. - The total liabilities decreased from 153,863,968.94 CNY at the end of 2021 to 138,357,271.42 CNY at the end of the first half of 2022, indicating a reduction of approximately 10.1%[187]. Market and Product Development - The company is recognized as a national high-tech enterprise, focusing on the research, production, and sales of peptide drugs, with multiple products approved and sold in developed countries[32]. - The main product, Thymosin Alpha 1 injection (brand name "Jitai"), has been approved for marketing in Italy and is included in the fifth batch of national drug centralized procurement[32]. - The company has developed over 20 therapeutic drugs, including peptide drugs and has received FDA approval for its injectable drugs, including Bevacizumab and Eptifibatide[35]. - The company plans to continue expanding its international market presence and has a robust pipeline for new product registrations in the U.S. and EU[41]. - The company is focusing on research and development of new technologies to drive future growth and innovation[180]. Risks and Challenges - The company faces various risks including industry policy changes, drug price reductions, and financial risks, which are detailed in the report[4]. - The company faces risks from rising raw material prices, which have increased production costs[68]. - The company is addressing potential risks from drug price reductions due to national policy changes[70]. - The company is actively managing foreign exchange risks by enhancing product value and utilizing prepayment, forward foreign exchange contracts, and letters of credit[72]. - The company has experienced impacts from public health events, affecting macroeconomic conditions and industry supply chains, but has taken measures to maintain normal operations[73]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total number of shares held by the top 10 unrestricted shareholders includes 139,516,546 shares held by Hainan Shuangcheng Investment Co., Ltd., which is 51.5% of the total[141]. - The largest shareholder, Hainan Shuangcheng Investment Co., Ltd., holds 33.64% of the shares, totaling 139,516,546 shares[138]. - The total equity attributable to the parent company at the end of the current period is CNY 577,662,000, reflecting an increase from the previous period[174]. - The company has implemented a stock option and restricted stock incentive plan, granting 7 million restricted shares at a price of 1.91 CNY/share and 7 million stock options at a price of 3.82 CNY/option[80]. Environmental and Compliance Measures - The company has implemented various environmental protection measures, including the construction of a wastewater treatment station and upgrades to its facilities to reduce volatile organic compounds emissions[90]. - The company has completed environmental impact assessments for several projects, including solvent recovery and production line expansions[92]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[95]. - The company is implementing measures to manage environmental risks and ensure compliance with new environmental regulations[70]. Research and Development - Research and development expenses increased to ¥5.15 million in the first half of 2022, up from ¥3.55 million in the first half of 2021, representing a growth of 45%[160]. - The company has a robust R&D pipeline with over 10 peptide products in various stages of approval and development, focusing on high market potential and complex synthesis[38]. - The company emphasizes the importance of attracting and retaining high-level technical talent for new drug development[71].

Financial Performance - The company's revenue for Q1 2022 was ¥73,230,987.79, a decrease of 12.57% compared to ¥83,759,538.77 in the same period last year[3]. - Net profit attributable to shareholders was ¥730,119.24, representing a significant increase of 121.62% from a net loss of ¥3,377,608.14 in the previous year[3]. - Basic earnings per share improved to ¥0.0018, up 118.00% from a loss of ¥0.01 per share in the same period last year[3]. - The company's net loss for the first quarter of 2022 was RMB 2,489,615.08, an improvement from a loss of RMB 8,153,305.80 in the previous year[27]. - The total comprehensive income for the first quarter was -2,497,156.47 CNY, improved from -8,165,356.09 CNY year-over-year[28]. Assets and Liabilities - Total assets increased by 3.37% to ¥883,386,626.72 from ¥854,556,164.94 at the end of the previous year[3]. - The total liabilities rose to RMB 317,411,619.14, up from RMB 287,804,887.63, indicating an increase of 10.4%[26]. - The company's inventory increased to RMB 57,577,217.54 from RMB 55,241,621.73, showing a growth of 4.2%[25]. Cash Flow - The net cash flow from operating activities decreased by 283.07% to -¥15,284,942.57, primarily due to reduced sales returns from price drops under national procurement policies[3][10]. - Cash inflow from operating activities totaled 80,330,695.21 CNY, down from 88,072,723.46 CNY year-over-year, reflecting a decrease of approximately 8.5%[31]. - Cash outflow from operating activities was 95,615,637.78 CNY, compared to 92,062,840.28 CNY in the same period last year, indicating an increase of about 3.0%[31]. - Cash flow from investing activities resulted in a net outflow of -41,225,949.49 CNY, a decline from a net inflow of 61,817,927.71 CNY in the previous year[31]. - Cash flow from financing activities generated a net inflow of 49,291,851.39 CNY, compared to a net outflow of -49,847,933.61 CNY in the same period last year, showing a significant improvement[32]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 26,017[13]. - The largest shareholder, Hainan Shuangcheng Investment Co., Ltd., holds 33.86% of shares, totaling 139,516,546 shares[13]. - HSP Investment Holdings Limited, the second-largest shareholder, holds 15.76% of shares, totaling 64,915,479 shares[13]. - The top 10 shareholders collectively hold significant stakes, with the largest three shareholders accounting for over 50% of total shares[13]. Stock Options and Incentives - The company has implemented a stock option and restricted stock incentive plan, granting 7 million restricted shares at a price of 1.91 RMB per share[15]. - The stock option plan includes 700,000 options granted at a price of 3.82 RMB per option, with 81 participants[15]. - As of April 2022, the company adjusted the stock option plan, reducing the number of options from 692.20 million to 684.25 million due to the departure of three participants[19]. - The first exercise period for the stock options is set from May 6, 2022, to May 5, 2023[20]. - The company has completed the registration of stock options and restricted stock grants, with a total of 75 participants in the stock option plan[18]. Other Income and Expenses - Research and development expenses decreased by 42.33% compared to the previous year, as some projects reached capitalization conditions[8]. - Other income increased by 546.27% year-on-year, mainly due to rewards received for the consistency evaluation of generic drug quality and efficacy[8]. - The company reported a 95.39% decrease in investment income, attributed to reduced financial management returns during the reporting period[8]. - Cash and cash equivalents decreased by 190.72% year-on-year, influenced by reduced sales returns and decreased financial management cash flow[10].

Financial Performance - The company's operating revenue for 2021 was ¥320,293,514.52, representing an increase of 18.87% compared to ¥269,441,762.99 in 2020[22] - The net profit attributable to shareholders was a loss of ¥20,325,073.94, an improvement of 61.89% from a loss of ¥53,329,409.90 in the previous year[22] - The net cash flow from operating activities was ¥23,553,573.54, a significant increase of 324.28% compared to -¥10,501,850.45 in 2020[22] - The total assets at the end of 2021 were ¥854,556,164.94, a decrease of 5.85% from ¥907,677,495.31 at the end of 2020[22] - The net assets attributable to shareholders decreased by 2.25% to ¥481,848,410.05 from ¥492,925,341.02 in 2020[22] - The basic earnings per share improved to -¥0.05 from -¥0.13, reflecting a 61.54% increase[22] - The company reported a total of ¥19,058,385.28 in non-recurring gains and losses for 2021, significantly higher than the previous year's amount of ¥4,926,651.22[29] - The company achieved a total revenue of 320,293,514.52 CNY in 2021, representing a year-on-year growth of 18.87%[51] - The net profit attributable to shareholders was -2,032.51 CNY, with a year-on-year increase of 61.89%[51] Revenue Sources - The revenue from product sales, after deducting non-main business income, was ¥303,558,131.42 in 2021, compared to ¥251,479,209.06 in 2020[23] - The company's total revenue for 2021 reached ¥303,558,131.42, representing a year-on-year increase of 20.71%[60] - The company's peptide products generated revenue of 172,370,500.73 CNY, which accounted for 53.81% of total revenue, reflecting a growth of 39.24% year-on-year[57] - The overseas revenue surged by 81.02% to ¥27,913,796.48, driven by increased export activities[60] - The market share of the main product, Thymosin Injection, was approximately 13%, ranking among the top in its category[48] Research and Development - The company invested 3,549.38 CNY in R&D in 2021, accounting for 11.08% of total revenue, although this represented a decrease of 43.07% compared to the previous year[52] - The number of R&D personnel increased by 33.80% to 95 in 2021, representing 22.84% of the total workforce[71] - The company aims to enhance its R&D capabilities and increase investment in R&D, focusing on the development of peptide APIs and formulations[96] - The company has successfully developed multiple peptide drugs and 20 other therapeutic drugs, with its main product, Thymosin Alpha 1 (brand name "Jitai"), approved for use in chronic hepatitis and immune enhancement[43] - The company has advanced laboratory equipment and a strong talent pool for peptide drug research and development, with nearly 10 peptide products in various stages of approval and development[46] Market and Industry Trends - The pharmaceutical industry in China saw a revenue increase of 20.1% year-on-year, reaching ¥2,928.85 billion in 2021, with total profits growing by 77.9%[33] - The domestic peptide drug market is experiencing annual sales growth, with increasing market share for domestic companies due to improved product quality and cost control[93] - The domestic peptide drug market is primarily dominated by foreign brands, indicating significant growth potential for domestic products[94] - The company faces challenges from increased competition in the peptide drug sector, driven by rising investment interest and regulatory changes[94] Governance and Compliance - The company has established a transparent performance evaluation system for its directors and senior management, promoting accountability and clear reward mechanisms[112] - The governance practices of the company align with the regulations set forth by the China Securities Regulatory Commission, ensuring compliance and integrity[113] - The company maintains complete independence from its controlling shareholders in terms of business, personnel, assets, organization, and finance[115] - The company has established an independent financial accounting system and makes its own financial decisions, with no shared bank accounts with controlling shareholders[116] - The company has implemented an internal audit system with two auditors to oversee financial reporting and internal controls[113] Environmental and Social Responsibility - The company has implemented a comprehensive pollution management system to comply with environmental regulations and reduce risks associated with waste emissions during production[103] - The company has passed environmental impact assessments for multiple projects, including solvent recovery and production expansion projects[169] - There were no administrative penalties imposed on the company due to environmental issues during the reporting period[172] - The company publicly disclosed its pollutant discharge permit execution status and monitoring results on its official website[173] Future Outlook - The company expects to achieve a business revenue of CNY 298.41 million and a total comprehensive income of CNY 8.13 million attributable to shareholders in 2022[97] - The company plans to continue expanding its product pipeline and aims to submit more DMF and ANDA applications in the U.S. and EU markets[49] - The company has provided a revenue guidance of 1.8 billion RMB for the next fiscal year, projecting a growth rate of 20%[126] - The company plans to enhance market share through marketing strategies and diversify its product line via R&D and acquisitions to mitigate risks associated with product concentration[102] Shareholder Relations - The company has a commitment to prioritize the acquisition of assets or equity from its subsidiaries in case of competitive business operations[180] - The company has established a three-year shareholder return plan for 2021-2023, focusing on cash dividends[182] - The company will conduct annual cash dividends, contingent on positive distributable profits and sufficient cash flow[182] - The company has a structured remuneration decision process based on company performance and individual assessments[131]

Financial Performance - The company's operating revenue for Q3 2021 was ¥77,156,090.24, an increase of 1.42% compared to the same period last year, and a total revenue of ¥250,820,096.29 for the year-to-date, representing a 32.06% increase year-on-year [4]. - The net profit attributable to shareholders for Q3 2021 was a loss of ¥10,030,477.37, a decrease of 16.35% year-on-year, with a year-to-date loss of ¥4,033,651.26, which is an improvement of 84.29% compared to the previous year [4]. - The basic earnings per share for Q3 2021 was -¥0.02, unchanged from the previous year, while the year-to-date basic earnings per share improved by 83.33% to -¥0.01 [4]. - Total operating revenue for the third quarter of 2021 reached ¥250,820,096.29, an increase of 32% compared to ¥189,934,854.06 in the same period of 2020 [22]. - Net loss for the third quarter was ¥18,380,105.56, an improvement from a net loss of ¥40,206,899.50 in the previous year [23]. - The company reported a gross profit margin of approximately -14.4% for the third quarter, compared to -21.2% in the same quarter of the previous year [22]. - The company’s basic earnings per share improved to -0.01 from -0.06 year-on-year [24]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was ¥6,694,673.44, reflecting a significant increase of 125.22% compared to the same period last year [4]. - The net cash flow from operating activities for Q3 2021 was ¥6,694,673.44, a significant improvement compared to the negative cash flow of ¥26,544,315.80 in the same period last year, indicating a turnaround in operational performance [26]. - Cash inflow from operating activities was ¥287,613,654.57, compared to ¥223,753,222.34 in the same period last year, marking a 29% increase [25]. - Total cash outflow from operating activities amounted to ¥280,918,981.13, up from ¥250,297,538.14 in Q3 2020, reflecting increased operational expenditures [26]. - The net cash flow from investing activities was ¥33,932,543.21, recovering from a negative cash flow of ¥54,071,973.46 in the previous year, suggesting improved investment management [26]. - Cash inflow from investment activities totaled ¥237,823,157.12, down from ¥508,841,081.23 in Q3 2020, indicating a decrease in cash recovery from investments [26]. - Cash outflow for capital expenditures was ¥203,890,613.91, significantly lower than ¥562,913,054.69 in the same quarter last year, showing reduced investment in fixed assets [26]. - The net cash flow from financing activities was negative at -¥35,904,922.61, compared to a positive cash flow of ¥44,176,763.51 in Q3 2020, indicating challenges in financing [26]. - The total cash and cash equivalents at the end of the period increased to ¥10,474,398.10 from ¥6,222,465.34, reflecting a positive cash position [26]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥866,027,099.88, a decrease of 4.59% from the end of the previous year [4]. - The total liabilities decreased to ¥100,522,340.03 from ¥129,408,743.59 year-over-year [19]. - The total liabilities decreased to ¥279,765,207.40 from ¥309,365,841.74, a reduction of approximately 10% [20]. - The total equity attributable to shareholders of the parent company increased slightly to ¥495,145,029.64 from ¥492,925,341.02 [20]. - The company’s long-term borrowings remain stable at ¥167,000,000.00 [19]. - The company experienced a 93.13% decrease in short-term borrowings compared to the beginning of the year, due to repayment of bank loans [7]. Operational Highlights - The company reported a 32.06% increase in operating revenue year-on-year, driven by increased product sales and processing business volume [9]. - The company's operating costs increased by 48.36% year-on-year, primarily due to higher product sales volume [9]. - The company reported a 1,190.12% increase in asset disposal gains year-on-year, mainly from the completion of the rights transfer of a product [9]. - The company received FDA approval for its product, Exenatide Injection, for market entry in the U.S. [16]. - The company plans to increase its European subsidiary's registered capital by €50,000, raising it from €10,000 to €60,000 [15]. - The company’s development expenditure increased to ¥87,986,446.94 from ¥69,915,599.62 year-over-year [19]. - Research and development expenses decreased to ¥6,868,488.95 from ¥8,303,280.00, reflecting a reduction of 17% year-on-year [23]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 24,919 [13]. - The largest shareholder, Hainan Shuangcheng Investment Co., Ltd., holds 33.86% of shares, totaling 139,516,546 shares [13]. Tax and Employee Costs - The company reported a total payment to employees of ¥40,151,021.90, which is an increase from ¥31,438,133.77 in the previous year, indicating higher labor costs [26]. - Tax payments amounted to ¥25,457,777.14, slightly up from ¥24,093,613.41 in Q3 2020, reflecting stable tax obligations [26]. Compliance and Standards - The company did not require adjustments to the opening balance sheet for the new leasing standards implemented in 2021, indicating compliance with the updated accounting regulations [27].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥173,664,006.05, representing a 52.53% increase compared to ¥113,857,607.78 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was ¥5,996,826.11, a significant turnaround from a loss of ¥17,054,245.87, marking a 135.16% improvement[21]. - The basic earnings per share increased to ¥0.01 from -¥0.04, reflecting a 125.00% improvement[21]. - The net profit attributable to shareholders was CNY 5,996,826.11[34]. - The company's net profit for the first half of 2021 was CNY 15,506,697.52, showing a recovery from the previous year's loss of CNY 4,090,956.91[169]. - The company reported a profit attributable to the parent company of ¥5,996,826.11, compared to a loss of ¥17,054,245.87 in the previous year[150]. - The company reported a total comprehensive income for the first half of 2021 of CNY 15,506,697.52, reflecting a significant increase compared to the previous period[168]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 80.00%, reaching -¥8,271,445.49 compared to -¥41,351,368.57 in the previous year[21]. - The cash flow from operating activities showed signs of recovery, contributing positively to the overall financial health of the company[149]. - The company achieved a net increase in cash and cash equivalents of ¥5,852,151.13, a 150.41% improvement from a decrease of ¥11,609,495.30 in the same period last year[42]. - Cash and cash equivalents increased to ¥11,648,808.34, representing 1.35% of total assets, up from 0.64% last year, primarily due to the recovery of product rights transfer payments[51]. - The cash flow from investment activities generated a net inflow of CNY 49,885,946.87 thousand in H1 2021, contrasting with a net outflow of CNY 15,518,270.77 thousand in H1 2020[155]. - The net cash flow from financing activities was negative at CNY -35,725,810.40 thousand in H1 2021, compared to a positive inflow of CNY 45,235,182.22 thousand in H1 2020[156]. Assets and Liabilities - Total assets at the end of the reporting period were ¥864,612,737.32, a decrease of 4.74% from ¥907,677,495.31 at the end of the previous year[21]. - The total liabilities decreased to CNY 265,603,625.84 from CNY 309,365,841.74, a decline of approximately 14.14%[146]. - Short-term borrowings decreased significantly to ¥3,804,191.50, down from ¥55,407,118.64, reflecting a repayment of bank loans, resulting in a reduction of 5.66% in total liabilities[51]. - The company's current assets decreased to CNY 163,519,931.46 from CNY 197,500,462.66, representing a reduction of about 17.19%[144]. - The total equity attributable to the parent company at the end of the first half of 2021 was ¥598,311,000, reflecting changes in capital and reserves[161]. Research and Development - The company has developed multiple peptide drugs and 20 other therapeutic drugs, with key products including Thymosin Alpha 1 and Octreotide Injection[29]. - Research and development investment decreased by 66.60% to ¥16,021,887.06 from ¥47,972,168.85, as there were no new purchases of proprietary technology in the current reporting period[41]. - The company has a solid foundation in peptide product research and development, with nearly 10 new peptide products in various stages of approval and development[31]. Market and Sales - The revenue from peptide products increased by 67.74% to ¥87,769,815.31, accounting for 50.54% of total operating revenue[44]. - The revenue from the service sector surged by 388.46% to ¥13,365,407.99, reflecting the company's active engagement in commissioned research and development[44]. - The company's international sales saw a remarkable growth of 194.61%, with revenue from overseas regions reaching ¥13,841,828.83[44]. Risk Management - The company faces various risks including industry policy changes, rising raw material prices, and public health events, which are detailed in the risk management section[4]. - The company is focusing on cost control and management capability enhancement in response to increased competition in the pharmaceutical industry[33]. - The company is addressing the risk of drug price reductions due to national policies by enhancing product quality and seizing market opportunities[67]. Environmental and Quality Management - The company has advanced its environmental protection efforts, optimizing wastewater treatment processes and ensuring compliance with environmental standards[35]. - The company maintains a strong focus on quality management, with no safety or production incidents reported during the reporting period[34]. - The company has established a comprehensive pollution management system to comply with environmental regulations and reduce environmental risks[66]. Corporate Governance and Shareholder Matters - The company implemented the 2021 stock option and restricted stock incentive plan, granting 7 million restricted shares at a price of 1.91 CNY per share to 8 recipients and 7 million stock options at a price of 3.82 CNY per option to 81 recipients[76]. - The company held a temporary shareholders' meeting on March 18, 2021, to approve the incentive plan and related matters, with independent directors providing opinions on the plan[78]. - The total number of ordinary shareholders at the end of the reporting period is 27,208[130]. Financial Management and Investments - The total amount of entrusted financial management reached 12,048 million CNY, with an outstanding balance of 5,314.5 million CNY[114]. - The company has a diversified investment strategy, focusing on cash, bonds, and non-standardized debt assets[117]. - The expected return rate for the bank financial products is 2.70%, while the trust financial products have a return rate of 7.00%[114].

Financial Performance - The company's operating revenue for Q1 2021 was ¥83,759,538.77, representing a 57.10% increase compared to ¥53,315,201.94 in the same period last year[7] - The net profit attributable to shareholders was a loss of ¥3,377,608.14, an improvement of 35.79% from a loss of ¥5,260,171.16 in the previous year[7] - The net cash flow from operating activities improved significantly, with a net outflow of ¥3,990,116.82, compared to a net outflow of ¥30,544,560.67 in the same period last year, marking an 86.94% improvement[7] - Operating revenue grew by 57.10% year-on-year, driven by increased domestic and international sales[16] - Net profit attributable to the parent company rose by 35.79% year-on-year, supported by higher product sales and government subsidies[16] - The company's net loss for Q1 2021 was ¥11,003,178.66, compared to a net loss of ¥11,743,614.71 in Q1 2020, indicating a slight improvement[46] - The company's total profit for Q1 2021 was ¥1,957,977.70, contrasting with a total loss of ¥176,036.85 in Q1 2020[51] Cash Flow and Liquidity - The company's cash and cash equivalents increased by 137.72% compared to the beginning of the year, primarily due to reduced investment in financial products[15] - Cash and cash equivalents increased to CNY 13,244,959.90 from CNY 5,144,264.94 at the end of 2020, representing a growth of 157.0%[43] - The cash inflow from investment activities was ¥142,281,237.36, while cash outflow was ¥80,463,309.65, resulting in a net cash flow of ¥61,817,927.71[55] - The company recorded a significant increase in sales revenue from cash received for goods sold, totaling ¥85,585,541.35, compared to ¥53,772,601.51 in the previous year[54] - The cash flow from operating activities totaled 87,195,448.32, an increase from 52,596,109.62 in the previous period, showing improved operational efficiency[57] - The company experienced a net increase in cash and cash equivalents of 7,982,978.60, contrasting with a decrease of -5,074,430.14 in the previous period[56] Assets and Liabilities - Total assets at the end of the reporting period were ¥853,014,066.32, down 6.02% from ¥907,677,495.31 at the end of the previous year[7] - The total liabilities decreased to CNY 262,852,957.61 from CNY 309,365,841.74, a reduction of 15.0%[41] - The total liabilities decreased, with accounts payable dropping to ¥14,212,580.49 from ¥15,442,806.87, a decrease of about 8.0%[39] - Short-term borrowings significantly decreased to ¥5,346,771.42 from ¥55,407,118.64, a reduction of about 90.3%[39] Shareholder Information - The top shareholder, Hainan Shuangcheng Investment Co., Ltd., holds 34.45% of the shares, totaling 139,516,546 shares[11] - The total number of ordinary shareholders at the end of the reporting period was 27,501[11] - The net assets attributable to shareholders decreased by 0.68%, from ¥492,925,341.02 at the end of the previous year to ¥489,550,556.89[7] Research and Development - The company is actively involved in the research and development of new products, including injectable drugs, as discussed in investor communications[34] - Research and development expenses for Q1 2021 were CNY 3,066,783.28, an increase of 22.3% compared to CNY 2,505,217.97 in Q1 2020[46] - The company granted 7 million stock options at an exercise price of RMB 3.82 per share to 79 incentive targets[19] Government Support and Financial Management - The company received government subsidies amounting to ¥1,088,733.49 during the reporting period[8] - Total entrusted financial management amounted to RMB 12.548 million, with a remaining balance of RMB 3.148 million[25] - The company provided financial support of up to RMB 46 million to its subsidiary Ningbo Shuangcheng[18] Financial Products - The total investment amount for the financial products managed by China Bank Hainan Province Branch is 2.95 billion, with an expected annualized return of 2.45%[27] - The financial product launched in January 2021 has a total amount of 150 million, with a projected annualized return of 2.40%[27] - The financial product with an investment of 4.65 billion has an expected annualized return of 2.45%, with actual earnings reported at 9.24 million[27] - The financial product managed by Zhongrong International Trust has a total investment of 3.00 billion, with a projected annualized return of 7.00%[29] - The financial product launched in September 2020 has a total amount of 3.00 billion, with an expected annualized return of 6.50%[29] - The financial product with an investment of 1.00 billion has a projected annualized return of 6.80%[29] - The financial product managed by Industrial and Commercial Bank of China Hainan Province Branch has a total investment of 37 million, with an expected annualized return of 2.90%[29] - The financial product with an investment of 353 million has an expected annualized return of 2.90%[29] - The report indicates that the trust funds are directed towards high-quality enterprises and projects in the mineral energy and livelihood engineering sectors[29] - The financial products are structured to maximize benefits while adhering to risk-weighted investment principles[29]

Financial Performance - The company's operating revenue for 2020 was CNY 269,441,762.99, a decrease of 22.27% compared to CNY 346,648,798.62 in 2019[16] - The net profit attributable to shareholders in 2020 was a loss of CNY 53,329,409.90, representing a decline of 316.29% from a profit of CNY 24,656,435.61 in 2019[16] - The net cash flow from operating activities was negative CNY 10,501,850.45, a decrease of 115.77% compared to CNY 66,584,747.07 in 2019[16] - The basic earnings per share for 2020 was -CNY 0.13, down 316.67% from CNY 0.06 in 2019[16] - Total assets at the end of 2020 were CNY 907,677,495.31, a decrease of 4.55% from CNY 950,982,609.23 at the end of 2019[16] - The net assets attributable to shareholders decreased by 9.76% to CNY 492,925,341.02 at the end of 2020 from CNY 546,255,153.26 at the end of 2019[16] - The company reported a significant decline in both net profit and cash flow, indicating potential challenges in operational efficiency[16] - The company achieved a total operating revenue of CNY 269,441,762.99 in 2020, a decrease of 22.27% year-on-year[39] - The net profit attributable to shareholders was CNY -53,329,409.90, indicating a loss for the year[39] Research and Development - The company invested CNY 62,342,400 in R&D, representing an increase of 24.81% compared to the previous year, and accounting for 23.14% of total revenue[40] - The company has developed multiple peptide drugs, including "基泰" (Thymosin Alpha 1) and "超泰" (Somatostatin Injection), which have received regulatory approvals in various markets[26][27] - The company has a strong R&D foundation in peptide products, having developed nearly 10 new peptide products in recent years, with several at different stages of approval and development[29] - The company has a comprehensive technical process system for the synthesis, purification, and quality assurance of peptide drugs, enhancing its competitive edge in the market[26] - The company is focused on expanding its market presence through the development of high-demand peptide drugs and sterile preparations[29] - The company plans to strengthen its R&D efforts, focusing on the development of peptide APIs and formulations, while enhancing its marketing team[84] - The company is prioritizing the review process for its new drug, Methylphenidate Hydrochloride Tablets, to expedite market entry[95] - The company is currently undergoing the priority review process for the product "Methylprednisolone Acetate Tablets" and is also developing "Injectable Bivalirudin" with ongoing sales[98] Market and Sales - The industrial segment contributed ¥251,479,209.06, accounting for 93.33% of total revenue, with a slight increase of 0.52% year-over-year[46] - The sales of peptide products reached ¥123,789,928.65, representing 45.94% of total revenue, with an 8.74% increase compared to the previous year[46] - The company reported a significant increase in service revenue, which rose by 228.65% to ¥17,962,553.93, up from ¥5,465,547.18 in 2019[46] - The company achieved a 100% increase in foreign sales, amounting to ¥15,420,533.40, compared to no foreign sales in 2019[48] - The company has signed significant sales contracts, with one contract amounting to ¥14,962,500.00, of which 98.27% has been fulfilled[52] - The company aims to enhance its international strategy by synchronously applying for domestic and international approvals and leveraging GMP-certified facilities for contract manufacturing[82] Operational Efficiency - The production volume in the industrial sector increased by 36.41% year-over-year, indicating improved operational efficiency[51] - The company has implemented strict environmental protection measures, ensuring compliance with local regulations and improving wastewater treatment processes[42] - The company is expanding its production capabilities in Ningbo, which is anticipated to enhance overall operational efficiency[95] Financial Management - The total cash inflow from financing activities increased by 12,147.08% to CNY 56,969,036.42, primarily due to short-term loans[61] - The total investment cash outflow was CNY 688,760,290.19, an increase of 23.19% compared to CNY 559,087,522.87 in 2019[61] - The company has implemented measures to manage financial risks, including optimizing capital structure and strengthening internal controls on accounts receivable and inventory[93] - The company has committed to maintaining a prudent approach to investment decisions to minimize potential financial risks[93] Environmental and Social Responsibility - The company is committed to environmental protection, ensuring compliance with regulations and improving waste management processes to minimize environmental impact[91] - The company has participated in a poverty alleviation project, spending 18,600 RMB on purchasing agricultural products from impoverished households[148] - The company has been involved in a poultry poverty alleviation project since 2018, with one project initiated[149] - The company has constructed and upgraded a wastewater treatment facility since 2008, with the latest upgrade completed in March 2017[152] Governance and Compliance - The company has committed to maintaining its independent operational status and ensuring compliance with relevant laws and regulations regarding related party transactions[103] - The company has outlined its commitment to avoid related party transactions unless absolutely necessary, ensuring fair market practices[103] - The company has established a long-term commitment to fulfill its obligations as a board member, adhering to legal and regulatory standards[105] - The company has pledged to not provide any assistance to competing enterprises in terms of capital, business, technology, or management[105] - The company has a commitment to transparency and accountability in its dealings with shareholders and stakeholders[105] Human Resources - The total number of employees is 413, with 325 in the parent company and 88 in major subsidiaries[195] - Employee composition includes 152 production staff, 26 sales staff, 151 technical staff, 10 financial staff, 58 administrative staff, and 16 material staff[195] - The company implements a unified compensation policy, with annual salary adjustments based on performance and capability, exceeding average adjustment levels for outstanding employees[196] - Various training programs are established to enhance employee skills, including internal and external training methods[197] Future Outlook - The company expects to achieve a business revenue of 368.65 million yuan in 2021, an increase of 36.82% compared to 2020, and a total comprehensive income attributable to shareholders of 7.11 million yuan, an increase of 113.33%[85] - The company plans to distribute cash dividends, with a minimum of 30% of the average distributable profit over the last three years to be distributed in cash, subject to certain conditions[107] - The company will maintain a continuous and stable profit distribution policy, ensuring that cash dividends do not affect its ongoing operations[107]

海南双成药业股份有限公司 2020 年第三季度报告全文 海南双成药业股份有限公司 2020 年第三季度报告 2020 年 10 月 1 海南双成药业股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人王成栋、主管会计工作负责人王旭光及会计机构负责人(会计主 管人员)周云声明：保证季度报告中财务报表的真实、准确、完整。 2 海南双成药业股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 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） | 933,219,507.92 | | 950,982,609.23 | -1.87% | | 归属于上市公司股东的净资产（元） | 520,579,815.3 ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 113,857,607.78, a decrease of 35.96% compared to CNY 177,804,707.70 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was a loss of CNY 17,054,245.87, which is a decline of 17.13% from a loss of CNY 14,560,548.35 in the previous year[16]. - The net cash flow from operating activities was negative CNY 41,351,368.57, a significant decrease of 305.32% compared to a positive cash flow of CNY 20,139,999.12 in the same period last year[16]. - The company reported a basic and diluted earnings per share of CNY -0.04, unchanged from the same period last year[16]. - The company achieved a revenue of CNY 113,857,607.78, a year-on-year decrease of 35.96%[32]. - The net profit attributable to shareholders was CNY -17,054,245.87, indicating a loss during the reporting period[32]. - The company's revenue for the reporting period was ¥113,857,607.78, a decrease of 35.96% compared to ¥177,804,707.70 in the same period last year, primarily due to the termination of overseas agency business by its wholly-owned subsidiary, Velo Pharmaceuticals[38]. - The net profit for the first half of 2020 was -4,090,956.91 CNY, compared to -18,693,609.85 CNY in the same period of 2019, showing an improvement[155]. - The total comprehensive loss for the first half of 2020 was CNY 27,613,997.20, compared to a loss of CNY 21,630,200.72 in the same period of 2019[152]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 953,245,471.88, reflecting a slight increase of 0.24% from CNY 950,982,609.23 at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company decreased by 3.12% to CNY 529,200,295.11 from CNY 546,255,153.26 at the end of the previous year[16]. - The company's cash and cash equivalents increased to ¥31,065,892.30, representing 3.26% of total assets, up from 0.92% in the previous year, primarily due to new bank loans[47]. - Accounts receivable decreased to ¥29,478,410.81, accounting for 3.09% of total assets, down from 6.26% the previous year, mainly due to the termination of the agency business by a wholly-owned subsidiary[47]. - Inventory decreased to ¥51,034,637.02, representing 5.35% of total assets, down from 5.65% the previous year, also due to the termination of the agency business[47]. - Fixed assets decreased to ¥571,164,484.19, accounting for 59.92% of total assets, down from 63.92% the previous year, primarily due to depreciation[47]. - Total liabilities rose to CNY 302,597,814.43 from CNY 272,720,954.58, an increase of approximately 10.9%[143]. - Short-term borrowings amounted to ¥50,000,000.00, representing 5.25% of total assets, attributed to new bank loans during the reporting period[47]. - Long-term borrowings decreased to ¥167,000,000.00, accounting for 17.52% of total assets, down from 18.44% the previous year, due to repayment of bank loans[47]. Research and Development - The company successfully developed 4 chemical synthetic peptide drugs and 20 other therapeutic drugs, including "Jitai" (Thymosin Alpha-1) which has received marketing authorization from the Italian Medicines Agency[24]. - The company has developed nearly 10 peptide products in recent years, focusing on high market potential and complex synthesis[26]. - The company’s R&D investment increased by 156.06% to ¥47,972,168.85, mainly due to the acquisition of new proprietary technologies during the reporting period[38]. - The R&D team has made significant progress, with the approval of the hydrochloride injection by the FDA and ongoing evaluations for other products[33]. - The company emphasizes its commitment to research and development, aiming to introduce innovative solutions in the healthcare sector to meet market demands[168]. Market and Competitive Position - The company plans to continuously submit DMF and ANDA applications for raw materials to the US and EU, accelerating its internationalization process[29]. - The company plans to avoid risks associated with product concentration by increasing market share through marketing strategies and diversifying the product line via R&D and acquisitions[63]. - The company is actively pursuing strategic initiatives, including potential mergers and acquisitions, to enhance its competitive position in the pharmaceutical industry[168]. - The company has strengthened cost control and management capabilities in response to challenges from national pharmaceutical reforms and centralized procurement policies[32]. Environmental and Social Responsibility - The company has implemented strict environmental protection measures, ensuring compliance with pollution discharge permits and optimizing wastewater treatment processes[35]. - The company has established a comprehensive pollution management system to comply with environmental regulations and reduce environmental risks[64]. - The company participated in a poverty alleviation project, purchasing agricultural products worth RMB 18,600 from impoverished farmers during the COVID-19 pandemic[108]. - The company plans to continue its efforts in industrial and consumption poverty alleviation projects as part of its corporate social responsibility strategy[113]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 29,731[122]. - The largest shareholder, Hainan Shuangcheng Investment Co., Ltd., holds 34.45% of the shares, totaling 139,516,546 shares[122]. - HSP Investment Holdings Limited, the second-largest shareholder, holds 16.03% of the shares, totaling 64,915,479 shares[122]. - The total number of shares issued by the company is 405,000,000, with 99.61% being unrestricted shares[119]. - There were no changes in the controlling shareholder or actual controller during the reporting period[124]. Financial Management and Investments - The company has invested a total of RMB 18.17 million in entrusted financial management products, with an outstanding balance of RMB 7.57 million[94]. - The total amount of entrusted financial management reached 45.4 million, with a projected annualized return of 2.90%[98]. - The financial products included cash, bonds, and non-standardized debt assets, with a specific focus on high liquidity assets[98]. - The investment strategy emphasizes stable investment principles and aims for maximum profit through diversified asset allocation[98]. - The company has identified potential risks related to the inability to recover principal amounts in entrusted financial management[98]. Compliance and Governance - The financial statements were approved by the board of directors on August 19, 2020, ensuring compliance with accounting standards[177]. - The company maintains a continuous operating capability for at least 12 months from the reporting date[179]. - The company’s accounting policies are based on the actual operating characteristics and comply with the relevant accounting standards[180]. - The company includes all subsidiaries in the consolidated financial statements, including controlled enterprises and separable parts of invested units[187].

Financial Performance - The company's revenue for Q1 2020 was ¥53,315,201.94, a decrease of 32.37% compared to ¥78,836,391.40 in the same period last year[7] - The net profit attributable to shareholders was -¥5,260,171.16, an improvement of 40.78% from -¥8,882,719.71 year-on-year[7] - Operating revenue decreased by 32.37% compared to the same period last year, primarily due to the termination of the agency business of the wholly-owned subsidiary Weile Pharmaceutical and a reduction in processing income caused by the pandemic[16] - Operating costs decreased by 57.41% year-on-year, corresponding to the reduction in revenue[16] - R&D expenses decreased by 71.49% year-on-year, mainly due to delays in some R&D projects and reduced investment[16] - Net profit attributable to the parent company's owners increased by 40.78% year-on-year, attributed to effective pandemic management and cost control measures[16] - Basic and diluted earnings per share increased by 50% year-on-year, driven by the growth in net profit[17] - The total comprehensive loss for Q1 2020 was CNY 9,905,243.49, compared to a loss of CNY 12,701,960.32 in Q1 2019, showing an improvement of 22.1%[47] Cash Flow and Liquidity - The net cash flow from operating activities was -¥30,544,560.67, a decline of 271.98% compared to ¥17,760,557.48 in the previous year[7] - Cash received from sales decreased by 32.41% year-on-year, mainly due to the termination of the agency business and reduced collections from the pandemic[19] - Cash inflow from operating activities totaled 55,138,945.77 CNY, down 52.3% from 115,682,649.57 CNY in the previous year[54] - The net cash flow from operating activities was -30,544,560.67 CNY, contrasting with a positive cash flow of 17,760,557.48 CNY in Q1 2019[54] - Cash inflow from financing activities was 50,000,000.00 CNY, with a net cash flow of 47,786,115.54 CNY, recovering from a negative cash flow of -124,189,448.45 CNY in Q1 2019[55] - The company’s cash flow management appears to be under pressure with a significant drop in cash and cash equivalents, indicating potential liquidity challenges[38] Assets and Liabilities - Total assets at the end of the reporting period were ¥961,699,849.28, an increase of 1.13% from ¥950,982,609.23 at the end of the previous year[7] - Total liabilities rose to CNY 293,343,438.11 as of March 31, 2020, compared to CNY 272,720,954.58 at the end of 2019, reflecting an increase of about 7.5%[40] - The company's total liabilities increased to CNY 119,216,742.85 as of March 31, 2020, compared to CNY 95,364,551.49 at the end of 2019, reflecting a rise of 25.0%[45] - The total equity attributable to shareholders decreased to CNY 540,994,938.39 from CNY 546,255,153.26, a decline of about 1.0%[41] - The company's total assets reached CNY 961,699,849.28, slightly up from CNY 950,982,609.23, representing a growth of about 1.5%[41] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 32,594[11] - The top shareholder, Hainan Shuangcheng Investment Co., Ltd., held 34.45% of the shares, amounting to 139,516,546 shares[11] Investment and Financial Products - The total amount of entrusted financial products reached 25,450 million yuan, with an expected annualized return of 2.00% to 7.10% across various products[29] - The company reported a loss of 0.21 million yuan from a financial product with a 3.00% return rate, indicating a need for improved investment strategies[29] - The company has no derivative investments during the reporting period, reflecting a conservative approach to risk management[31] Compliance and Governance - There were no violations regarding external guarantees during the reporting period, ensuring compliance with regulatory standards[32] - The company did not experience any non-operating fund occupation by controlling shareholders or related parties, indicating financial stability[33] - The company engaged in multiple communication activities regarding its operational performance and sales forecasts, demonstrating transparency with stakeholders[34] - The company’s financial report as of March 31, 2020, is prepared in accordance with standard accounting practices, ensuring accuracy in financial reporting[36] Changes in Accounting Standards - The company has implemented new revenue recognition standards effective January 1, 2020, impacting financial reporting[67] - The first quarter report for 2020 was not audited, indicating preliminary financial data[67]