Financial Performance - The company's revenue for Q3 2022 was ¥495,669,082.18, representing a decrease of 35.64% compared to the same period last year[6]. - The net profit attributable to shareholders was -¥80,739,517.03, a decline of 162.66% year-over-year[6]. - The company reported a significant drop in operating income, which fell by 38.38% to ¥1,506,190,272.21 for the year-to-date period[11]. - Total operating revenue for the current period was ¥1,506,190,272.21, a decrease of 38.3% compared to ¥2,444,241,273.64 in the previous period[25]. - Net profit for the current period was a loss of ¥95,859,950.66, compared to a profit of ¥386,199,758.52 in the previous period[26]. - Total comprehensive income for the current period was a loss of ¥82,457,407.75, compared to a gain of ¥385,160,908.59 in the previous period[26]. - The company's diluted earnings per share were -¥0.09, reflecting a decrease of 162.66% compared to the same period last year[6]. - The basic and diluted earnings per share for the current period were both -¥0.07, compared to ¥0.42 in the previous period[26]. Cash Flow - The net cash flow from operating activities was ¥40,252,389.49, down 85.68% compared to the previous year[6]. - Cash flow from operating activities was ¥1,861,968,955.89, a decrease of 36.6% from ¥2,935,786,818.33 in the previous period[28]. - Net cash flow from operating activities was $40,252,389.49, a decrease of 85.7% compared to $281,063,579.72 in the previous period[31]. - Net cash flow from financing activities improved to $62,818,814.30 from a negative $215,688,346.33 in the previous period[31]. - The total cash and cash equivalents at the end of the period stood at $833,144,628.84, slightly down from $843,098,931.28 at the end of the previous period[31]. - Cash inflow from financing activities totaled $157,018,000.00, while cash outflow was $94,199,185.70, resulting in a net inflow[31]. - The company experienced a cash outflow of $1,379,680,361.35 related to other operating activities, down from $2,064,282,444.26 previously[31]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,582,156,515.36, a decrease of 3.83% from the end of the previous year[6]. - Total current assets as of September 30, 2022, amounted to RMB 2,331,415,792.82, a decrease from RMB 2,487,089,720.87 at the beginning of the year, representing a decline of approximately 6.3%[18]. - Total assets as of September 30, 2022, were RMB 3,582,156,515.36, down from RMB 3,724,750,010.48, indicating a decrease of about 3.8%[21]. - Total liabilities decreased to RMB 394,428,816.95 from RMB 497,243,823.11, a reduction of approximately 20.7%[21]. - The company reported a total equity of RMB 928,160,351.00, unchanged from the previous period[21]. - The equity attributable to shareholders of the parent company was ¥3,132,343,176.60, a decrease from ¥3,218,681,536.00 in the previous period[24]. Research and Development - Research and development expenses increased by 58.95% to ¥389,683,503.06, reflecting the company's commitment to biopharmaceutical and innovative drug development[11]. - Research and development expenses increased to ¥389,683,503.06, up 58.7% from ¥245,165,221.78 in the previous period[25]. - The company’s development expenditure increased to RMB 360,228,568.13 from RMB 308,836,511.73, reflecting an increase of approximately 16.6%[21]. Other Financial Metrics - The weighted average return on net assets was -1.27%, a decline of 5.34% year-over-year[6]. - The company recorded a total of ¥10,968,833.83 in non-recurring gains and losses for the reporting period[7]. - Other comprehensive income after tax for the current period was ¥13,402,542.91, compared to -¥1,038,849.93 in the previous period[26]. - The company experienced a 39.73% decrease in accounts receivable, totaling ¥298,866,959.82, primarily due to reduced sales[11]. - Accounts receivable decreased to RMB 298,866,959.82 from RMB 495,904,753.30, a reduction of approximately 39.7%[18]. - The company’s inventory as of September 30, 2022, was RMB 140,982,466.88, slightly down from RMB 141,844,960.70[18]. - The company has a total of 21,360 common shareholders, with the largest shareholder holding 34.20%[15]. - The company’s long-term equity investments increased to RMB 102,246,686.65 from RMB 101,844,628.76, a slight increase of about 0.4%[18].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,010,521,190.03, a decrease of 39.64% compared to ¥1,674,049,614.00 in the same period last year[26]. - The net profit attributable to shareholders was ¥12,496,010.08, down 95.25% from ¥263,169,398.69 in the previous year[26]. - The net profit after deducting non-recurring gains and losses was ¥2,876,976.52, a decline of 98.87% compared to ¥254,298,722.36 in the same period last year[26]. - The basic earnings per share decreased by 96.43% to ¥0.01 from ¥0.28 in the previous year[26]. - The total assets at the end of the reporting period were ¥3,689,132,627.06, a slight decrease of 0.96% from ¥3,724,750,010.48 at the end of the previous year[26]. - The net assets attributable to shareholders were ¥3,208,513,917.78, down 0.32% from ¥3,218,681,536.00 at the end of the previous year[26]. - The net cash flow from operating activities was negative at -¥35,220,435.74, compared to a positive cash flow of ¥251,237,347.93 in the same period last year, a decline of 114.02%[26]. - The weighted average return on net assets was 0.39%, down from 8.58% in the previous year, a decrease of 8.19 percentage points[26]. - The gross profit margin for the main business was 89.21%, down 41.85% from the previous year[143]. - The revenue from the digestive segment was ¥502,663,567.64, a significant decrease of 54.04% from ¥1,093,737,979.19 in the same period last year[143]. - The revenue from the oncology segment was ¥332,388,603.53, a decrease of 14.83% compared to ¥390,282,253.79 in the previous year[143]. - The revenue from the East China region was ¥298,211,464.55, down 42.27% from ¥516,547,420.80 in the previous year[143]. - The company reported a net increase in cash and cash equivalents of -¥421,467,464.42, a decrease of 18.17% from -¥515,067,118.74 in the previous year[139]. - The company’s financing activities generated a net cash flow of ¥58,269,577.66, a significant improvement compared to -¥205,612,820.31 in the previous year[139]. Research and Development - R&D investment reached CNY 250.74 million, accounting for 24.81% of operating revenue, an increase of 21.35% year-on-year[55][57]. - The company has launched 10 new products since 2021, including injectable Posaconazole and Lenvatinib capsules[42]. - There are currently 45 major projects under research, focusing on innovative drugs and complex formulations in oncology, anti-infection, and chronic disease areas[43]. - The company has received clinical approval for 3 innovative drugs during the reporting period, including ASK120067, ASK0912, and ASKG712[46]. - The company is actively advancing the consistency evaluation of generic drugs, confirming the equivalence of product quality and efficacy with original drugs[48]. - The company has multiple innovative drug projects in preclinical research stages, indicating a strong pipeline for future growth[45]. - The company has established a strong R&D platform for both chemical and biological drugs, with significant achievements in targeted innovation and high-end formulations[78]. - The company is focusing on innovative drugs and high-end generics, enhancing its R&D capabilities through both independent development and partnerships[87]. - The company’s pipeline includes multiple dual-target antibodies and cytokine prodrugs, addressing various fields such as tumor immunity and chronic diseases[81]. Product Development and Market Strategy - The company operates in four main therapeutic areas: digestion, oncology, anti-infection, and chronic diseases, with a strong brand influence in the Chinese pharmaceutical market[36]. - The company has a diverse product portfolio, including injectable drugs for various conditions such as gastric ulcers and cancer treatment[37]. - The company aims to replace imported drugs with its high-quality generics, enhancing its market position[48]. - The company has established a new product transformation platform to ensure seamless integration of research, production, and quality control, aiming for immediate market launch upon approval[166]. - The company has launched several new products since 2021, many of which are first generics or fill domestic gaps, enhancing market competitiveness[130]. - The company is focusing on the anti-infection field, with a product pipeline designed to meet clinical needs and enhance its competitive position in the market[97]. - The company has exclusive rights for the development and sales of Isavuconazole in China and several Asia-Pacific countries, with the product approved for import in June 2022[106]. - The company’s product range includes lyophilized powder injections, small-volume injections, active pharmaceutical ingredients, tablets, and capsules[44]. Challenges and Risks - The company has faced significant risks and challenges, which are detailed in the report[6]. - The company has identified risks related to industry policy changes, which could impact drug pricing and profit margins due to centralized procurement policies[161]. - The average price drop for selected products in the national centralized procurement was over 90%[58]. - Eight products were selected in the fourth and fifth batches of national centralized procurement, impacting revenue and sales volume[58]. - The average price drop for the seventh batch of centralized drug procurement in 2022 was 48.0%, indicating ongoing price pressures in the industry[70]. Corporate Governance and Social Responsibility - The company has established a comprehensive governance structure to protect shareholder rights, ensuring compliance with relevant laws and regulations[197]. - The company actively participates in social responsibility initiatives, including disaster relief and educational support, contributing to community welfare[196]. - The company has been recognized as a "Green Enterprise" in Nanjing for five consecutive years, reflecting its commitment to environmental protection and sustainable development[199]. - The company emphasizes a unique corporate culture focused on "loving the Party and the country," integrating Party building as a primary task to drive high-quality development[200]. - The corporate mission is "For Health, Healthy Action," with a vision to "Forge a Happy Aosaikang," promoting innovation, cooperation, and accountability as core values[200]. Environmental Management - The company has established a comprehensive environmental management system, including a waste management protocol for hazardous waste disposal[186]. - The company has made significant investments in energy-saving and emission-reduction technology upgrades for its production equipment[171]. - The company has implemented a monitoring plan for pollutants based on national guidelines, combining automatic and manual monitoring methods[192]. - The company has not faced any administrative penalties for environmental issues during the reporting period, indicating compliance with environmental regulations[193]. - The company has installed automatic sampling and online monitoring devices at wastewater discharge points, ensuring real-time monitoring of wastewater volume and COD, which complies with environmental requirements[189].

Financial Performance - The company's revenue for Q1 2022 was ¥535,530,478.60, a decrease of 42.51% compared to ¥931,463,073.42 in the same period last year[4] - Net profit attributable to shareholders was ¥19,363,474.87, down 89.14% from ¥178,253,558.11 year-on-year[4] - The net profit for the current period is CNY 15,744,769.03, a significant decrease from CNY 176,718,029.26 in the previous period, representing a decline of approximately 91.1%[25] - The total profit for the current period is CNY 18,110,433.30, down from CNY 199,820,032.27, a decline of approximately 90.9%[25] - The company reported a net profit margin of approximately 2.3% for the current period[22] Cash Flow and Assets - The net cash flow from operating activities was ¥19,603,258.69, a decline of 63.41% compared to ¥53,577,910.12 in the previous year[4] - The company reported a net cash flow from operating activities of CNY 19,603,258.69, down from CNY 53,577,910.12, a decrease of about 63.5%[30] - Cash and cash equivalents decreased to CNY 871,256,388.49 from CNY 1,165,562,151.09, representing a decline of 25.3%[15] - The net increase in cash and cash equivalents was -$289,641,470.02, showing a significant decrease[36] - The beginning balance of cash and cash equivalents was $1,160,897,858.51[36] - The ending balance of cash and cash equivalents was $871,256,388.49, reflecting a decline[36] Expenses and Liabilities - Total operating costs amounted to CNY 522,904,935.40, down 29.4% from CNY 740,518,907.54 in the prior period[22] - The company recorded a significant increase in credit impairment losses, rising to CNY 1,828,840.71 from CNY 665,289.23, an increase of approximately 174.5%[25] - The company's sales expenses decreased to CNY 340,387,847.92 from CNY 559,589,834.09, a reduction of about 39.2%[25] - Total liabilities decreased to CNY 431,096,112.80 from CNY 497,243,823.11, a reduction of 13.3%[21] Equity and Assets - Total assets at the end of the reporting period were ¥3,678,238,088.77, a decrease of 1.25% from ¥3,724,750,010.48 at the end of the previous year[4] - The company's equity attributable to shareholders increased to CNY 3,241,122,321.45 from CNY 3,218,681,536.00, an increase of 0.7%[21] - Non-current assets totaled CNY 1,225,925,305.11, down from CNY 1,237,660,289.61, a decrease of 0.3%[15] Research and Development - The company experienced a 91.09% decline in net profit, attributed to decreased revenue while R&D expenses continued to rise[7] - Research and development expenses increased to CNY 91,766,998.62 from CNY 79,979,264.90, reflecting a growth of about 14.3%[25] Government Support and Future Plans - The company received government subsidies amounting to ¥1,756,759.33, which are closely related to its normal business operations[6] - The company plans to focus on expanding its market presence and investing in new product development in the upcoming quarters[20] Other Financial Metrics - Basic and diluted earnings per share were both ¥0.02, down 89.47% from ¥0.19 in the same period last year[4] - The company's weighted average return on equity was 0.60%, down 5.12% from 5.72% in the previous year[4] - The total comprehensive income attributable to the parent company's owners for the current period is CNY 21,168,998.78, down from CNY 177,913,674.24, a decrease of about 88.1%[29] Audit and Reliability - The first quarter report was not audited, which may affect the reliability of the financial data presented[37]

Financial Performance - The company's operating revenue for 2021 was ¥3,106,666,569.36, a decrease of 17.87% compared to ¥3,782,688,912.30 in 2020[35]. - The net profit attributable to shareholders for 2021 was ¥379,907,787.30, down 47.35% from ¥721,625,102.15 in 2020[35]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥325,764,989.44, a decline of 51.50% from ¥671,674,788.91 in 2020[35]. - The basic earnings per share for 2021 was ¥0.41, a decrease of 47.44% compared to ¥0.78 in 2020[35]. - The total assets at the end of 2021 were ¥3,724,750,010.48, a decrease of 2.19% from ¥3,808,099,396.51 at the end of 2020[38]. - The net assets attributable to shareholders at the end of 2021 were ¥3,218,681,536.00, an increase of 6.33% from ¥3,027,151,332.35 at the end of 2020[38]. - The weighted average return on equity for 2021 was 12.53%, down from 26.03% in 2020, a decrease of 13.50%[38]. - The company's cash flow from operating activities for 2021 was ¥567,707,650.56, a slight decrease of 2.18% from ¥580,383,967.84 in 2020[35]. - The company reported a net profit of -¥12,106,901.28 in Q4 2021, contrasting with positive profits in the first three quarters[41]. - In 2021, the company achieved operating revenue of CNY 310,666.66 million, a year-on-year decrease of 17.87%[141]. - The net profit attributable to shareholders was CNY 37,990.78 million, down 47.35% year-on-year[141]. Research and Development - The company has 45 ongoing research projects, including 11 key innovative drugs, with significant progress in clinical trials for drugs like ASK120067 and ASKB589[64]. - The first innovative drug ASK120067 has completed clinical research and is ready for production[68]. - The company submitted clinical research applications for 7 new products during the reporting period, including the innovative drug ASKC202[68]. - The company is actively developing generic drugs, with 12 existing products and 9 new products recognized as having passed quality consistency evaluation[69]. - The company has established a dual-driven R&D model focusing on independent and collaborative development, enhancing competitiveness through partnerships with leading pharmaceutical research institutions and universities[76]. - The company has established a strong R&D platform with key technologies recognized by national and provincial awards, enhancing its innovation capabilities[91]. - The pipeline includes 11 key projects in various stages, with a focus on small molecule targeted therapies and biopharmaceuticals, indicating a rich and diverse R&D landscape[98]. - The company is focusing on expanding its oncology product pipeline with multiple new drug candidates in various clinical stages[167]. Product Development and Market Strategy - The company launched 8 new products during the reporting period, including Posaconazole Injection and Posaconazole Enteric-Coated Tablets, with several being the first exclusive products in their category[63]. - The company focuses on four major areas: digestive diseases, oncology, resistant infections, and chronic diseases, with a strong brand influence in the Chinese pharmaceutical market[57]. - The company has introduced several key products, including injection formulations for treating digestive ulcers and various cancers, enhancing its therapeutic offerings[60]. - The company aims to expand its market presence through innovative product development and strategic responses to regulatory changes in the healthcare sector[57]. - The company has established exclusive promotion and sales rights for Posaconazole enteric-coated tablets in mainland China through collaboration with Shanghai Xuantai Pharmaceutical[109]. - The company is transitioning its R&D focus from "generic drugs" to "innovative drugs" and high-end generics, reflecting a strategic shift in its development structure[92]. - The company is actively expanding its product line with several new drug applications under review, indicating a strategic focus on growth and market expansion[173]. Regulatory and Market Environment - The average price reduction for the fifth batch of national drug procurement was 69.0%, indicating significant price pressure in the pharmaceutical market[52]. - The National Medical Insurance Bureau has accelerated the adjustment cycle for the medical insurance drug list, now occurring annually, which facilitates quicker access for new drugs[55]. - The implementation of the DRG/DIP payment reform plan aims to cover all eligible medical institutions by the end of 2025, fundamentally changing cost control logic in healthcare[56]. - The introduction of the "dual-channel" management mechanism for drug negotiations has improved accessibility for negotiated drugs, benefiting insured individuals[55]. - The company has participated in the fourth and fifth batches of national centralized drug procurement, with all products winning bids, contributing to new sales growth points[133]. Financial Management and Investments - R&D investment reached CNY 41,412.28 million, accounting for 13.33% of operating revenue, with a year-on-year increase of 1.5%[141][144]. - Financial adjustments in investment structures led to an 18.75% decrease in financial expenses, improving overall profitability[166]. - The company's total investment during the reporting period was ¥137,806,506.98, a decrease of 29.82% compared to the previous year[199]. - The company's long-term equity investments increased from ¥73,350,153.78 to ¥101,844,628.76, reflecting a growth of 0.84% in proportion[190]. Sales and Market Performance - Revenue from the pharmaceutical manufacturing sector was ¥3,041,448,347.27, accounting for 97.90% of total revenue, down 18.23% from ¥3,719,315,068.51 in 2020[149]. - Digestive products generated ¥1,906,041,402.73 in revenue, representing 61.35% of total revenue, a decline of 25.73% from ¥2,566,241,180.11 in 2020[149]. - The company reported a significant drop in sales volume for its products, with a 13.38% decrease in total sales volume from 198,219 boxes in 2020 to 171,699 boxes in 2021[153]. - The sales of Zoledronic Acid Injection reached 507 million CNY in 2020, indicating significant market potential for the product[1]. - The sales of Temozolomide Capsules in Chinese sample hospitals reached 790 million CNY in 2020, showcasing a broad market outlook[1]. Corporate Governance and Structure - The company underwent a major asset restructuring in December 2018, shifting its main business focus to drug research, production, and sales[33]. - The company’s actual controller changed to Mr. Chen Qingcai following the restructuring[33]. - The company’s financial advisor during the reporting period was Huatai United Securities Co., Ltd., from December 24, 2018, to December 31, 2021[34]. - The company has not reported any significant changes or adjustments to its business, products, or services during the reporting period[159].

Financial Performance - The company's revenue for Q3 2021 was ¥770,191,659.64, a decrease of 36.43% compared to the same period last year[4]. - The net profit attributable to shareholders for Q3 2021 was ¥128,845,289.89, down 48.71% year-on-year[4]. - The net profit after deducting non-recurring gains and losses was ¥124,985,905.30, a decrease of 47.38% compared to the previous year[4]. - Total operating revenue for the current period is ¥2,444,241,273.64, a decrease of 9.9% from ¥2,713,795,914.26 in the previous period[25]. - Net profit for the current period is ¥386,199,758.52, a decrease of 19.2% compared to ¥477,856,155.95 in the previous period[28]. - The company reported a total comprehensive income of ¥385,160,908.59, down from ¥477,199,275.93 in the previous period[31]. - Basic and diluted earnings per share are both ¥0.42, down from ¥0.52 in the previous period[31]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,667,739,337.83, a decrease of 3.69% from the end of the previous year[4]. - As of September 30, 2021, the total assets amounted to ¥3,667,739,337.83, a decrease from ¥3,808,099,396.51 on December 31, 2020[15]. - The total current assets were ¥2,472,244,856.40, down from ¥2,646,909,755.68 in the previous year[18]. - The company's cash and cash equivalents decreased to ¥846,224,705.77 from ¥1,369,098,462.16 year-over-year[15]. - Accounts receivable stood at ¥519,160,660.46, a decline from ¥713,868,272.54 in the previous period[18]. - The total liabilities decreased to ¥433,871,779.61 from ¥774,891,361.56 year-over-year[21]. - The total equity attributable to shareholders increased by 6.82% to ¥3,233,640,584.63 compared to the end of the previous year[4]. - The total equity attributable to shareholders increased to ¥3,233,640,584.63 from ¥3,027,151,332.35[24]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥281,063,579.72, down 33.74% compared to the same period last year[4]. - Cash inflow from operating activities totaled ¥3,041,298,586.72, a decrease of 6.0% from ¥3,235,960,554.75 in the previous period[32]. - The net cash flow from operating activities was 281,063,579.72, a decrease of 33.7% compared to 424,155,685.49 from the previous period[35]. - Cash outflow from investing activities totaled 1,620,003,595.27, significantly higher than 213,337,608.27 in the prior period[35]. - The net cash flow from investing activities was -588,243,595.27, worsening from -103,290,961.97 in the previous period[35]. - Cash outflow from financing activities was 215,688,346.33, compared to 205,975,436.93 in the prior period, indicating an increase[35]. - The net cash flow from financing activities was -215,688,346.33, compared to -183,329,049.03 previously, reflecting a decline[35]. - The ending balance of cash and cash equivalents was 843,098,931.28, down from 1,321,726,121.04 in the previous period[38]. - The company reported a total cash outflow of 522,873,756.39, contrasting with a cash inflow of 137,512,995.51 in the prior period[35]. Research and Development - The company's R&D expenses increased by 45.74% to ¥245,165,221.78, reflecting a greater investment in biopharmaceuticals and innovative drug development[10]. - Research and development expenses increased to ¥245,165,221.78, up 45.8% from ¥168,219,113.30 in the previous period[25]. - The company plans to continue focusing on R&D to drive future growth despite the current decline in revenue[28]. Strategic Initiatives - The company is focusing on expanding its market presence and developing new products and technologies[20]. - There are indications of potential mergers and acquisitions as part of the company's growth strategy[20]. Other Financial Metrics - The weighted average return on equity was 4.07%, a decrease of 5.36% year-on-year[4]. - The company reported a significant increase in other receivables, which rose by 312.22% to ¥102,188,222.55, primarily due to project guarantee deposits[10]. - The company has a significant decrease in accounts payable, which fell to ¥53,385,537.91 from ¥95,292,311.58[21]. - Other income increased to ¥9,936,736.70, up from ¥5,202,059.67 in the previous period[25]. - Investment income rose to ¥8,430,868.17, compared to ¥2,689,942.79 in the previous period[25]. - The cash paid to employees was 216,877,816.53, an increase from 195,365,958.98 in the previous period[35]. - The cash paid for taxes was 359,470,959.15, up from 294,058,773.38 in the previous period, indicating a rise in tax obligations[35]. - The cash received from investment recoveries was 1,031,200,000.00, a significant increase from 110,000,000.00 in the previous period[35].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,674,049,614, representing an increase of 11.43% compared to CNY 1,502,266,488.33 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was CNY 263,169,398.69, up 15.39% from CNY 228,061,380.80 in the previous year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 254,298,722.36, reflecting a growth of 16.54% compared to CNY 218,198,084.53 last year[26]. - The net cash flow from operating activities was CNY 251,237,347.93, an increase of 8.20% from CNY 232,187,701.58 in the same period last year[26]. - The basic earnings per share for the period was CNY 0.28, a 12.00% increase from CNY 0.25 in the previous year[26]. - The total assets at the end of the reporting period were CNY 3,558,797,893.14, a decrease of 6.55% from CNY 3,808,099,396.51 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were CNY 3,104,004,775.36, showing a growth of 2.54% compared to CNY 3,027,151,332.35 at the end of the previous year[26]. - The weighted average return on net assets was 8.58%, down 0.45% from 9.03% in the previous year[26]. - The company achieved total revenue of 167,405 million CNY, representing a year-on-year growth of 11.43%[53]. - The net profit attributable to shareholders reached 26,317 million CNY, an increase of 15.39% compared to the previous year[53]. - Research and development investment amounted to 20,661 million CNY, accounting for 12.34% of main operating revenue, focusing on small molecule targeted innovative drugs and tumor immunotherapy[53]. Product Development and Innovation - The company operates in the pharmaceutical manufacturing industry, focusing on treatments for digestive ulcers, tumors, drug-resistant infections, and chronic diseases[36]. - Key products include injectable medications for various conditions, such as omeprazole sodium and levofloxacin, targeting specific medical needs[36]. - The company has completed 8 major national science and technology projects during the 13th Five-Year Plan, involving 18 new products, showcasing its commitment to innovation[43]. - The company has established two major R&D platforms for chemical and biological drugs, enhancing its innovation capabilities[58]. - The company has 9 key innovative drugs in various stages of development, including ASK120067 for non-small cell lung cancer, currently in Phase III clinical trials, and ASKB589 for gastric and breast cancer, in Phase I/II trials[65][66]. - The company launched 5 new products during the reporting period, including 2 domestic first generics, and obtained exclusive agency rights for one first generic drug[55]. - The company has established a new product transformation platform to ensure seamless integration of research and production, aiming for immediate market launch upon approval[160]. - The company is actively pursuing new drug applications, including for drugs like palbociclib and ceritinib, which are in the oncology and immunomodulatory categories[75]. - The company has established a strong collaboration with Shanghai WuXi AppTec for the development of ASK852, an innovative small molecule immunomodulator, which has shown significant anti-tumor effects[66]. Market Position and Strategy - The company holds the leading market share in the proton pump inhibitors (PPI) injection segment in China, indicating strong brand influence in the gastrointestinal market[42]. - The company is recognized as a national enterprise technology center and a national technology innovation demonstration enterprise, enhancing its competitive edge[43]. - The company aims to expand its market share and operational capabilities through the introduction of new products and strategic partnerships, enhancing its competitive position in the pharmaceutical industry[69]. - The company has established partnerships with major e-commerce platforms like Tmall and JD.com to enhance digital marketing and improve accessibility of its products to patients[133]. - The company has implemented a strategic shift towards innovative drugs, transitioning from a "generic-innovative" model to a "innovative-generic" model to adapt to the competitive landscape[132]. Quality Control and Compliance - The company has successfully passed GMP certification or inspections over 30 times, reflecting its commitment to quality control in production[47]. - The company emphasizes a procurement strategy that prioritizes quality, service, and reasonable pricing, ensuring stable supply and cost control[44]. - The company has maintained a strong focus on quality management, achieving compliance with GMP standards across multiple production facilities, including solid oral dosage forms and small-volume injectables[128]. - The company has implemented strict quality control measures in compliance with the latest regulations and international standards, enhancing its product competitiveness[166]. Environmental and Social Responsibility - The company has maintained its status as a "green enterprise" in Nanjing for five consecutive years, emphasizing its commitment to environmental sustainability[137]. - The company actively participates in social responsibility initiatives, including disaster relief and health assistance in impoverished areas, receiving multiple awards for its contributions[189]. - The company has established a comprehensive environmental protection responsibility system and maintains a management and operation protocol for pollution control facilities[188]. - The company has committed to enhancing drug accessibility and sustainability for Chinese patients through innovative drug development[95]. Risks and Challenges - The company faces risks related to policy changes in the pharmaceutical industry, which could impact average profit margins due to ongoing price reforms and centralized procurement[156]. - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the report[6].

Financial Performance - The company reported a total revenue of 928.16 million RMB for the year 2020, marking a significant increase compared to the previous year[6]. - The company's operating revenue for 2020 was ¥3,782,688,912.30, a decrease of 16.29% compared to ¥4,518,631,692.41 in 2019[23]. - The net profit attributable to shareholders for 2020 was ¥721,625,102.15, down 7.60% from ¥780,959,203.28 in 2019[23]. - The net profit after deducting non-recurring gains and losses was ¥671,674,788.91, a decline of 11.69% from ¥760,604,432.10 in 2019[23]. - The basic and diluted earnings per share for 2020 were both ¥0.78, down 7.14% from ¥0.84 in 2019[23]. - The weighted average return on equity decreased to 26.03% at the end of 2020, down from 35.94% at the end of 2019, a drop of 9.91%[26]. - Total assets increased by 3.14% to ¥3,808,099,396.51 at the end of 2020, compared to ¥3,692,097,041.59 at the end of 2019[26]. - The net assets attributable to shareholders rose by 20.43% to ¥3,027,151,332.35 in 2020, up from ¥2,513,548,000.65 in 2019[26]. - The company reported quarterly revenues of ¥709,235,498.92, ¥793,030,989.41, ¥1,211,529,425.93, and ¥1,068,892,998.04 for Q1, Q2, Q3, and Q4 respectively in 2020[29]. - The total non-recurring gains and losses for 2020 amounted to ¥49,950,313.24, compared to ¥20,354,771.18 in 2019[33]. - In 2020, the company achieved total operating revenue of CNY 378,268.89 million, a decrease of 16.29% compared to 2019[52]. - The net profit attributable to shareholders was CNY 72,162.51 million, down 7.60% year-on-year[52]. Research and Development - R&D investment accounted for 10.79% of total revenue, focusing on small molecule targeted innovative drugs and biological innovative drugs in the tumor immunity field[52]. - The company has established two major R&D platforms for chemical and biological drugs, with multiple core technologies and has been awarded several national and provincial innovation awards[61]. - The company has 59 ongoing research projects, with 6 chemical and biological innovative drugs currently in clinical research stages[98]. - The company is actively pursuing the development of innovative drugs, with a focus on small molecule targeted therapies and biological innovative drugs in the oncology field[98]. - The company has developed multiple dual-target antibodies and cytokine prodrugs using its advanced Smartkine platform, with a focus on oncology, autoimmune diseases, and chronic conditions[173]. - The innovative drug ASK589 for gastric cancer received clinical approval in July 2020 and is currently undergoing Phase I clinical trials[173]. - The company has submitted applications for consistency evaluations for 9 injectable products, with 4 products currently without any approved enterprises[84]. - The company has submitted a total of 384 patent applications, including 277 invention patents in China and 32 PCT applications, with 203 patents granted[103]. Market Position and Strategy - The company holds the leading market share in the proton pump inhibitor (PPI) injection market in China[41]. - Aosaikang Pharmaceutical has become the largest domestic leader in proton pump inhibitor (PPI) injection drugs, with a strong product pipeline and industry-leading asset scale and profitability[53]. - The company has established a complete market sales system, primarily using a distributor model for product sales[48]. - The company has established strategic partnerships with e-commerce platforms like Tmall and JD.com to enhance digital marketing and expand market reach[151]. - The company is focusing on international expansion and leveraging its R&D advantages through strategic partnerships, aligning with its innovative drug development strategy[173]. Product Development and Innovation - The innovative drug ASK120067 for non-small cell lung cancer is in the final stage of Phase II clinical research, with Phase III also underway[43]. - The company has launched the first domestically produced proton pump inhibitor injection, achieving significant market share and filling gaps in the domestic market[120]. - The company is focusing on the development of chiral PPI products, with multiple projects under the "Major New Drug Creation" initiative[121]. - The antibiotic ASK0912, targeting multi-drug resistant Gram-negative bacteria, is progressing rapidly and is expected to file for IND within a year[116]. - The company has successfully developed the first generic DPP-4 inhibitor, Saxagliptin tablets, which was approved in 2019 and is included in the National Drug Directory, marking a new growth point in chronic disease treatment[136]. Financial Management and Compliance - The company has engaged Lixin Certified Public Accountants as its auditing firm, ensuring compliance and accuracy in financial reporting[22]. - The company has established a financial advisory relationship with Huatai United Securities for ongoing support and guidance[22]. - The company has a strategic plan to address potential risks and challenges in its future development, as detailed in the report[6]. - The company has implemented a dual emergency prevention mechanism to enhance internal safety risk management and reduce accident occurrences[151]. Corporate Governance and Structure - The company’s actual controller is Mr. Chen Qingcai, following the restructuring that changed its ownership structure[21]. - The company’s registered address is located in Beijing, with its operational headquarters in Nanjing[16]. - The company has been recognized as a national enterprise technology center and a national technology innovation demonstration enterprise[43]. - The company has been recognized as a "green enterprise" in Nanjing for five consecutive years, reflecting its commitment to environmental sustainability[152].

Financial Performance - The company reported a total revenue of 928.16 million RMB for the year 2020, marking a significant increase compared to the previous year[6]. - The company's operating revenue for 2020 was ¥3,782,688,912.30, a decrease of 16.29% compared to 2019[23]. - The net profit attributable to shareholders for 2020 was ¥721,625,102.15, down 7.60% from the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥671,674,788.91, a decline of 11.69% year-over-year[23]. - The basic and diluted earnings per share for 2020 were both ¥0.78, reflecting a decrease of 7.14% compared to 2019[23]. - The company's total assets at the end of 2020 were ¥3,808,099,396.51, an increase of 3.14% from the end of 2019[26]. - The net assets attributable to shareholders increased by 20.43% to ¥3,027,151,332.35 at the end of 2020[26]. - The weighted average return on equity for 2020 was 26.03%, down from 35.94% in 2019, a decrease of 9.91%[26]. - The company reported a total of ¥49,950,313.24 in non-recurring gains and losses for 2020[33]. - In 2020, the company achieved total revenue of CNY 378,268.89 million, a decrease of 16.29% compared to 2019, and a net profit of CNY 72,162.51 million, down 7.60% year-on-year[51]. Research and Development - The company aims to expand its market presence and enhance its product offerings through ongoing research and development initiatives[21]. - The company's R&D investment accounted for 10.79% of total revenue, focusing on small molecule targeted innovative drugs and biological innovation drugs in the tumor immunity field[51]. - The company has been recognized as a national enterprise technology center and a national technology innovation demonstration enterprise, undertaking 10 major national science and technology projects related to new drug creation[52]. - The company has established a strong R&D foundation with two major technology platforms for chemical and biological drugs, enhancing its innovation capabilities[61]. - The company has six chemical and biological innovative drugs currently in clinical research, with multiple projects in preclinical research stages[63]. - The company has established a joint innovation center with Jiangsu Industrial Technology Research Institute to address key technical challenges in the pharmaceutical industry[67]. - The company has developed a world-leading Smartkine cytokine prodrug technology platform, with seven PCT patents applied, enhancing its capabilities in biopharmaceuticals[62]. - The company has publicly disclosed seven key innovative drugs in development, including ASK120067 tablets and ASKB589 injections, focusing on small molecule targeted drugs and tumor immunotherapy[72]. - The company has established a mature biopharmaceutical research platform, including a high-yield stable cell line and quality control analysis methods[108]. Product Development and Market Position - The company has developed and launched China's first domestically produced proton pump inhibitor (PPI) injection, becoming the largest PPI injection enterprise in the country[52]. - The company has a diverse product pipeline focusing on four therapeutic areas: digestion, oncology, resistant infections, and chronic diseases, with significant advantages in core technologies and major products[48]. - The innovative drug ASK120067 for non-small cell lung cancer has entered the clinical phase II research closing stage, with phase III also underway, potentially allowing conditional approval after phase II completion[46]. - The company has established a stable supplier system for raw materials, ensuring quality and price control by maintaining at least two suppliers for non-self-produced raw materials[45]. - The company has eight lyophilized powder injection production lines and two small-volume injection production lines, all compliant with GMP requirements, ensuring production capacity meets sales demand[46]. - The company has signed a strategic cooperation agreement with Nanjing Medical University to establish an industry academy and a joint innovation center for drug transformation[67]. - The company is focusing on high-end first generic drugs, with 15 products submitted for new registration classification for market approval or clinical application[72]. - The company has received approval for two products that are considered to have passed the consistency evaluation, enhancing its competitive position in the market[75]. - The company is actively expanding its product portfolio to address the urgent clinical needs and improve drug accessibility for patients in China[68]. Financial Management and Compliance - The company has engaged Lixin Certified Public Accountants as its auditing firm, ensuring compliance and accuracy in financial reporting[22]. - The company has established a financial advisory relationship with Huatai United Securities for ongoing support and guidance[22]. - The company has a strategic plan to address potential risks and challenges in its future development, as detailed in the report[6]. - The company has implemented a quality management system that has received multiple awards, including the Jiangsu Provincial Quality Award, ensuring sustainable high-quality development[144]. - The company has implemented a dual emergency prevention mechanism to enhance internal safety risk management and reduce accident occurrences[150]. Corporate Structure and Governance - The company’s actual controller is Mr. Chen Qingcai, following the restructuring that changed its ownership structure[21]. - The company’s stock is listed on the Shenzhen Stock Exchange under the code 002755, reflecting its public trading status[15]. - The company’s registered address is located in Beijing, with its operational headquarters in Nanjing[16]. - The company has a unique corporate culture and effective incentive mechanisms, focusing on health and innovation as core values[89]. - The company aims for high-quality development by integrating entrepreneurial and craftsmanship spirits, promoting both breakthrough and incremental innovations[88].

Revenue and Profit - The company's revenue for Q1 2021 was ¥931,463,073.42, representing a 31.33% increase compared to ¥709,235,498.92 in the same period last year[8]. - Net profit attributable to shareholders for Q1 2021 was ¥178,253,558.11, a significant increase of 67.35% from ¥106,515,696.82 in the previous year[8]. - The net profit after deducting non-recurring gains and losses was ¥172,943,472.48, up 69.97% from ¥101,748,199.76 year-on-year[8]. - The basic earnings per share for Q1 2021 was ¥0.19, reflecting a 72.73% increase from ¥0.11 in the same period last year[8]. - Operating revenue rose by 31.33% to ¥931,463,073.42 from ¥709,235,498.92, primarily due to improved sales as the pandemic situation improved[17]. - Net profit increased by 66.45% to ¥176,718,029.26 from ¥106,166,637.56, driven by revenue growth and cost reduction initiatives[17]. - The total comprehensive income for the period was ¥176,307,221.73, compared to ¥106,324,628.60 in the previous period, indicating an increase of about 66%[59]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥3,838,196,582.88, a slight increase of 0.79% from ¥3,808,099,396.51 at the end of the previous year[8]. - The net assets attributable to shareholders increased by 5.88% to ¥3,205,065,006.59 from ¥3,027,151,332.35 at the end of the previous year[8]. - Total assets increased to ¥7,668,522,392.40 from ¥7,665,386,657.59, reflecting a growth of 0.02%[50]. - Total liabilities decreased to ¥114,175,362.77 from ¥107,075,799.99, indicating a reduction of approximately 6.2%[50]. - The total equity attributable to shareholders increased to ¥7,554,347,029.63 from ¥7,558,310,857.60, a slight decline of 0.05%[50]. Cash Flow - The net cash flow from operating activities decreased by 68.93% to ¥53,577,910.12 from ¥172,458,289.64 in the same period last year[8]. - Cash inflow from operating activities was 1,030,349,230.33, a decrease from 1,040,373,771.94 in the prior period[72]. - Cash inflow from investment activities totaled 211,537,164.42, compared to 100,010,488.00 in the previous period[72]. - Net cash flow from investment activities was -602,526,901.86, worsening from -52,459,968.67 year-over-year[72]. - Cash and cash equivalents decreased by 39.96% to ¥822,063,450.30 from ¥1,369,098,462.16 due to new structured deposits purchased during the period[17]. - Cash and cash equivalents at the end of the period were 816,928,482.81, down from 1,304,226,310.39 in the previous period[74]. Expenses - Total operating costs amounted to ¥740,518,907.54, an increase from ¥592,159,611.81 in the previous period, reflecting a growth of approximately 25%[53]. - Research and development expenses surged by 67.19% to ¥79,979,264.90 from ¥47,836,244.95, reflecting increased investment in innovative and biological drug development[17]. - Sales expenses increased to ¥559,589,834.09 from ¥430,650,515.20, which is an increase of approximately 30%[53]. - The company reported a tax expense of ¥23,102,003.01, up from ¥19,192,208.15, reflecting an increase of about 20%[56]. Shareholder Information - The top shareholder, Nanjing Aosaikang Investment Management Co., Ltd., holds 34.20% of the shares, totaling 317,470,588 shares[11]. - The total number of ordinary shareholders at the end of the reporting period was 23,024[11]. Other Financial Metrics - The company's retained earnings rose to ¥181,497,075.62 from ¥185,460,903.59, a decrease of 2.1%[50]. - Deferred income tax liabilities remained stable at approximately ¥15,489,103.81 compared to ¥15,492,194.73[40]. - The company received government subsidies amounting to ¥4,640,947.26 during the reporting period[8]. - Other income for the period was reported at ¥3,850,321.01, up from ¥1,805,980.08, representing an increase of approximately 113%[53]. - Investment cash flow net amount was -¥602,526,901.86, a 1048.55% increase in outflow compared to -¥52,459,968.67, mainly due to increased purchases of structured deposits[17].

Financial Performance - Operating revenue for the period was CNY 1,211,529,425.93, reflecting a decline of 1.87% year-on-year[8] - Net profit attributable to shareholders was CNY 251,214,764.01, an increase of 23.13% compared to the same period last year[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 237,517,665.88, up 18.80% year-on-year[8] - Basic earnings per share for the period were CNY 0.2691, representing a growth of 22.43% compared to the previous year[8] - The weighted average return on net assets was 9.43%, an increase of 0.23% compared to the same period last year[8] - The company reported a total comprehensive income of ¥248,894,914.74, compared to ¥204,552,306.14 in the previous period, showing overall growth[60] - Net profit for the current period is ¥250,259,920.36, an increase of 22.8% compared to ¥203,791,649.19 in the previous period[58] - The net profit for the current period is 192,768,399.19, compared to 114,114,017.20 in the previous period, representing an increase of approximately 68.9%[83] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 3,579,487,068.71, a decrease of 3.05% compared to the end of the previous year[8] - The total non-current assets reached ¥1,189,159,481.70, up from ¥1,057,179,599.36, indicating a growth of approximately 12.43%[39] - Current liabilities totaled ¥671,726,124.31, a decrease from ¥1,078,722,487.48, showing a reduction of about 37.7%[42] - The total liabilities decreased to ¥789,980,722.23 from ¥1,175,525,356.82, representing a decline of approximately 32.8%[42] - The total owner's equity rose to ¥2,789,506,346.48 from ¥2,516,571,684.77, marking an increase of about 10.8%[45] - Total liabilities amounted to ¥1,175,525,356.82, with non-current liabilities at ¥96,802,869.34[106] Cash Flow - The net cash flow from operating activities was CNY 191,967,983.91, an increase of 7.48% year-on-year[8] - Cash inflow from investment activities increased significantly to 210,000,000.00, up from 120,000,000.00 in the prior period, reflecting a strong investment return[93] - The cash flow from operating activities is 424,155,685.49, slightly down from 455,253,335.00 in the previous period, showing a decline of about 6.5%[86] - The cash flow from investment activities is -103,290,961.97, compared to -93,287,482.82 in the previous period, indicating a worsening of approximately 10.8%[89] - The cash flow from financing activities is -183,329,049.03, which is a larger outflow compared to -111,352,107.04 in the previous period, representing an increase in outflow of about 64.7%[89] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,784[12] - The top ten shareholders held a combined 81.36% of the company's shares, with the largest shareholder owning 34.20%[12] Expenses - Total operating costs decreased to ¥933,910,048.21 from ¥990,789,020.83, reflecting a cost reduction strategy[55] - Research and development expenses decreased to ¥68,631,586.86 from ¥76,763,851.83, suggesting a potential shift in R&D strategy[55] - Management expenses decreased by 44.50% to ¥111,597,630.05 as related expenditures were reduced due to the pandemic[20] - Sales expenses for the current period were ¥1,636,981,868.95, down 24.5% from ¥2,168,412,226.93 in the previous period[69] Investments - Long-term equity investments increased by 41.31% to ¥70,653,983.89 mainly due to investments in Lianyungang Guike Pharmaceutical[20] - Investment income rose by 123.99% to ¥2,689,942.79 due to increased investment income from associated companies[20] - The investment income for the current period is 210,000,000.00, compared to 120,000,000.00 in the previous period, representing an increase of about 75%[86] Government Support - The company received government subsidies amounting to CNY 25,395,423.97 during the reporting period[8] Changes in Accounting Standards - The company has implemented new revenue and leasing standards starting from 2020, which may impact future financial reporting[97] - The company has implemented new revenue and leasing standards starting from 2020, affecting prior comparative data[116]