Financial Performance - The company's operating revenue for 2021 was ¥1,994,333,825.91, representing a year-over-year increase of 25.68% from ¥1,586,860,209.21 in 2020[18]. - Net profit attributable to shareholders for 2021 was ¥673,309,413.17, an increase of 11.17% compared to ¥605,684,140.68 in 2020[18]. - The net profit after deducting non-recurring gains and losses was ¥616,473,100.55, up 11.48% from ¥552,983,388.80 in 2020[18]. - The net cash flow from operating activities reached ¥673,261,691.25, reflecting a 21.14% increase from ¥555,769,602.12 in 2020[18]. - Total assets at the end of 2021 amounted to ¥3,379,858,314.48, a growth of 28.14% from ¥2,637,596,622.12 at the end of 2020[18]. - The net assets attributable to shareholders increased by 19.42% to ¥2,512,476,209.50 from ¥2,103,900,958.01 in 2020[18]. - The basic earnings per share for 2021 was ¥1.68, an increase of 11.26% from ¥1.51 in 2020[18]. - The diluted earnings per share was ¥1.67, reflecting a 10.60% increase from ¥1.51 in 2020[18]. - The company achieved operating revenue of CNY 1,994,333,825.91, a year-on-year increase of 25.68%[52]. - Net profit attributable to shareholders reached CNY 673,309,413.17, up 11.17% year-on-year, with a basic earnings per share of CNY 1.68[52]. Dividend Policy - The company plans to distribute a cash dividend of 5.00 RMB per 10 shares (including tax) to all shareholders based on the total share capital as of the dividend distribution date[5]. - The total cash dividend amount (including other methods) is 202,569,910 yuan, which accounts for 15.66% of the total distributable profit[156]. - The distributable profit at the end of 2021 is 1,293,423,113.23 yuan, following the principle of the lower of the parent company and consolidated financial statements[156]. - The company will prioritize cash dividends, distributing no less than 20% of the distributable profit each year[154]. - The company has established a three-year shareholder return plan, ensuring a stable and continuous dividend policy[154]. - The company’s cash dividend distribution is subject to the condition of having positive retained earnings and ensuring sustainable operations[156]. Research and Development - The company invested CNY 167,067,162.53 in R&D, marking a 30.50% increase from the previous year[57]. - The company holds 462 patents, including 42 invention patents and 343 utility model patents[57]. - The company acquired 46 new medical device registration certificates during the reporting period, enhancing its product line[57]. - The proportion of R&D investment to operating income increased to 8.38% in 2021 from 8.07% in 2020, indicating a focus on innovation[82]. - The company is increasing R&D investments to develop competitive new products and technologies, addressing the long product registration timelines and associated risks[113]. Market Position and Strategy - The global orthopedic medical device market is projected to reach approximately $47.1 billion by 2024, growing at a CAGR of 3.7% from a current size of $36.5 billion[22]. - The orthopedic medical device industry is characterized by rigid demand, with minimal impact from seasonal and economic fluctuations, suggesting stable growth prospects[22]. - The company has successfully bid for its hip and knee joint product systems in the national centralized procurement for orthopedic consumables, marking a significant achievement in the competitive landscape[22]. - The company is committed to enhancing production and operational efficiency to lower production costs and maintain competitive pricing in the face of centralized procurement[22]. - The company plans to expand its product offerings in orthopedic implants and enter new fields such as neurosurgery and minimally invasive surgery[54]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the report[5]. - The company has stated that it will face major risks in the future and has detailed its risk management strategies in the report[5]. - The company has implemented risk control measures for derivative investments, including market risk and liquidity risk assessments[93]. - The independent directors support the company's foreign exchange hedging activities to mitigate currency fluctuation risks[93]. - The company has a clear risk assessment and management strategy, utilizing both qualitative and quantitative methods to analyze and prioritize identified risks[169]. Corporate Governance - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operations from its controlling shareholders[118]. - The company is focused on maintaining a transparent relationship with shareholders, ensuring equal treatment and rights for all, especially minority shareholders[117]. - The board of directors consists of 7 members, including 3 independent directors, complying with regulatory requirements[119]. - The supervisory board is composed of 3 members, ensuring oversight of financial status and compliance of management actions[120]. - The company has established a performance evaluation and incentive system linking management compensation to operational performance[122]. Social Responsibility - The company actively participates in social responsibility initiatives, including environmental protection and community support, while ensuring the protection of stakeholder interests[169]. - The company has been recognized for its contributions during the COVID-19 pandemic, providing masks and medical personnel to support local areas[193]. - The company has committed to continuing its efforts in precise poverty alleviation, particularly in education, health, and ecological protection[194]. - The company has implemented measures for pollution prevention, including the installation of dust and acid mist treatment equipment, ensuring compliance with emission standards[185]. - The company emphasizes environmental protection and sustainable development, focusing on resource conservation and waste management through technological innovation and refined management practices[192].

Financial Performance - The company's revenue for Q3 2021 was ¥458,306,325.20, representing a 4.86% increase year-over-year, while the year-to-date revenue reached ¥1,304,888,568.38, up 17.57% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2021 was ¥136,318,454.71, a decrease of 16.43% year-over-year, with a year-to-date net profit of ¥453,480,053.36, reflecting a 6.05% increase[5] - Total operating revenue for the third quarter reached ¥1,304,888,568.38, an increase of 17.5% compared to ¥1,109,859,060.01 in the same period last year[25] - Net profit for the quarter was ¥471,584,415.37, representing a growth of 8.5% from ¥434,752,615.60 in the previous year[26] - The company reported a decrease in other comprehensive income, with a net amount of -¥413,999.98 compared to -¥2,837,183.94 in the previous year[26] - The total profit for the quarter was ¥542,575,411.58, an increase from ¥506,696,921.09 year-over-year[26] Assets and Liabilities - The company's total assets as of the end of Q3 2021 amounted to ¥2,986,712,325.54, which is a 13.24% increase from the end of the previous year[6] - The total liabilities rose to ¥650,072,939.52, up from ¥503,657,636.55, indicating a 28.9% increase[23] - The total equity attributable to shareholders reached ¥2,257,976,528.72, compared to ¥2,103,900,958.01, reflecting a growth of 7.4%[23] - The company's non-current assets totaled ¥899,141,167.33, an increase from ¥663,373,776.92, reflecting a growth of approximately 35.5%[20] - The accounts payable increased to ¥262,316,899.37 from ¥179,833,146.20, showing a rise of about 46% year-over-year[20] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥331,365,409.19, showing an 18.68% increase[5] - The company’s cash flow from operating activities showed improvement, contributing positively to the overall financial health[25] - Net cash flow from operating activities was 331,365,409.19, up from 279,201,662.85 in the previous period, representing a growth of about 18.7%[28] - Total cash outflow from operating activities was 1,087,318,626.93, compared to 903,014,379.20 in the previous period, reflecting an increase of approximately 20.5%[28] - The company received 4,577,492,606.00 in cash from investment recoveries, a substantial increase from 2,287,796,000.00 in the previous period, representing a growth of about 100.3%[28] Shareholder Information - The total number of common stock shareholders at the end of the reporting period was 29,669[14] - The largest shareholder, Changdu Dabotong Medical Investment Management Co., Ltd., holds 44.41% of shares, totaling 179,928,000 shares[14] Inventory and Receivables - The company's inventory as of the end of Q3 2021 was ¥704,793,010.08, a 30.03% increase due to the acquisition of subsidiary inventory and new product additions[11] - The accounts receivable increased by 32.38% to ¥385,046,735.86, primarily due to increased sales and customers opting for year-end concentrated payments[11] - Accounts receivable increased to ¥385,046,735.86 from ¥290,865,345.89, reflecting a growth of approximately 32.4% year-over-year[19] - Inventory as of September 30, 2021, was ¥704,793,010.08, up from ¥542,019,638.48, indicating an increase of about 30%[20] Management and Expenses - Management expenses for Q3 2021 were ¥61,820,961.86, reflecting a 41.23% increase due to salary adjustments and personnel increases[11] - Research and development expenses increased to ¥109,059,097.62, a rise of 28.7% compared to ¥84,746,388.56 in the same quarter last year[25] Strategic Initiatives - The company won all bids in the centralized procurement for orthopedic trauma and joint products in July and September 2021, which may impact future sales[16] - The company plans to actively adjust its business strategy in response to the impact of centralized procurement on distributor purchases[16] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[25] Audit and Compliance - The company has not undergone an audit for the third quarter report, which may affect the reliability of the financial data presented[36] - The report indicates that the company is in compliance with the new leasing standards effective from 2021, although it is not applicable for retrospective adjustments[36]

大博医疗科技股份有限公司 2021 年半年度报告全文 大博医疗科技股份有限公司 2021 年半年度报告 2021 年 08 月 1 大博医疗科技股份有限公司 2021 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人林志雄、主管会计工作负责人柯碧灵及会计机构负责人(会计主 管人员)罗春梅声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告涉及未来计划等前瞻性陈述，不构成公司对投资者的实质承诺。投 资者及相关人士均应对此保持足够的风险认识，并且应当理解计划、预测与承 诺之间的差异。 公司已在本报告中详细描述未来将面临的主要风险及应对措施，详情请查 阅本报告"第三节 管理层讨论与分析"之"十、公司面临的风险和应对措施" 部分，请投资者注意投资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 大博医疗科技股份有限公司 2021 年半年度报告全文 第一节 重要提示、目录和释义 . -- ...

Financial Performance - The company's operating revenue for 2020 was ¥1,586,860,209.21, representing a 26.21% increase compared to ¥1,257,317,998.46 in 2019[20]. - The net profit attributable to shareholders for 2020 was ¥605,684,140.68, a 30.12% increase from ¥465,490,905.65 in 2019[20]. - The net profit after deducting non-recurring gains and losses was ¥552,983,388.80, up 30.78% from ¥422,846,292.59 in 2019[20]. - The basic and diluted earnings per share for 2020 were both ¥1.51, reflecting a 30.17% increase from ¥1.16 in 2019[20]. - The total assets at the end of 2020 were ¥2,637,596,622.12, a 17.81% increase from ¥2,238,773,031.97 at the end of 2019[20]. - The net assets attributable to shareholders at the end of 2020 were ¥2,103,900,958.01, a 22.19% increase from ¥1,721,832,928.59 at the end of 2019[20]. - The company reported a net cash flow from operating activities of ¥555,769,602.12, which is a 28.09% increase from ¥433,877,268.05 in 2019[20]. - The overall gross profit margin for the reporting period was 85.87%[72]. - The company achieved operating revenue of ¥1,586,860,209.21, a year-on-year increase of 26.21%[72]. - Net profit attributable to shareholders reached ¥605,684,140.68, reflecting a growth of 30.12% compared to the previous year[72]. - The company’s cash flow from operating activities was ¥555,769,602.12, up by 28.09% year-on-year[72]. Dividend Policy - The company plans to distribute a cash dividend of 8 RMB per 10 shares to all shareholders, totaling a significant return on investment[3]. - The cash dividend for 2020 was CNY 321,788,640.00, which accounts for 53.13% of the net profit attributable to shareholders[174]. - The cash dividend per 10 shares is CNY 8.00 (including tax), with a total share capital of 402,235,800 shares used for the calculation[176]. - The company prioritizes cash dividends, distributing no less than 20% of the available profits to shareholders annually, provided there are no significant capital expenditure plans[161]. - The company has a three-year shareholder return plan (2020-2022) that ensures cash dividends are not less than 20% of the distributable profits each year[170]. - The company plans to increase stock dividends and capital reserve transfers if net profits continue to grow, while maintaining the 20% cash dividend distribution[170]. - The board of directors will propose dividend plans after each fiscal year, which will be subject to shareholder approval[170]. - Adjustments to the dividend policy require approval from more than half of the board and two-thirds of the voting rights at the shareholder meeting[163]. - The company emphasizes the importance of considering shareholder opinions, especially those of minority shareholders, in its dividend distribution policies[169]. Business Operations - The company has maintained its main business operations without any changes since its listing[18]. - The company’s main business involves the production, research and development, and sales of high-value medical consumables, with no significant changes reported during the period[30]. - The company’s product categories include orthopedic trauma implants, spinal implants, and minimally invasive surgical consumables, among others[30]. - The company reported a comprehensive range of implantable medical devices, including trauma, spinal, neurosurgical, joint, sports medicine, oral implant, and minimally invasive surgical products[39]. - The trauma implant products are primarily used for surgical treatment of pathological and traumatic fractures in adults and children, including intramedullary nails and metal plates[41]. - The spinal implant products are designed for surgical treatment of various spinal disorders caused by trauma, degeneration, or deformity, including pedicle screw systems and interbody fusion devices[41]. - The company’s joint implant products include artificial hip and knee joint systems for treating various forms of arthritis and joint diseases[41]. - The company’s minimally invasive surgical products include disposable laparoscopic puncture devices for establishing access in minimally invasive surgeries[41]. Research and Development - The company invested ¥128,023,696.19 in R&D, which is a 27.54% increase from the previous year[79]. - The company has established a complete R&D system with a team of professionals from various disciplines, focusing on orthopedic implant products[62]. - The number of R&D personnel rose by 18.18% to 416, with R&D personnel accounting for 16.67% of the total workforce[101]. - The company aims to enhance its R&D capabilities by increasing investment in its technology center and expediting the use of the new R&D building to support core business and promote sustainable development[143]. - The company will increase R&D investment to maintain competitiveness in orthopedic consumables, focusing on innovative product development[153]. Market and Competition - The orthopedic implant market in China is experiencing steady growth due to factors such as an aging population and increasing medical demand[59]. - The company aims to strengthen its market position through continuous investment in R&D and production capacity expansion[82]. - The company plans to expand its marketing network by increasing distribution points and enhancing regional competitiveness, targeting a higher market share in secondary and tertiary hospitals[144]. - The company faces risks from market competition and potential product price declines, prompting strategies to optimize product structure and expand production[147]. - Regulatory changes in the healthcare sector may impact the high-value consumables market, necessitating timely adjustments to business strategies[148]. Compliance and Governance - The company has committed to ensuring the authenticity, accuracy, and completeness of its public announcements, taking legal responsibility for any misstatements[188]. - The company has disclosed that there are no undisclosed related party transactions during the reporting period, adhering to regulatory requirements[182]. - The company has pledged to avoid related party transactions and ensure that any unavoidable transactions are conducted on a fair and reasonable basis[182]. - The company will not engage in any activities that could harm the interests of its shareholders or the company itself[182]. - The company has established a mechanism to ensure compliance with its commitments and will take corrective actions if any commitments are not fulfilled[182]. Audit and Financial Reporting - The company has reported a comprehensive financial report ensuring accuracy and completeness, with all board members present for the review[3]. - The company has appointed Tianjian Accounting Firm as its auditor, with the signing accountants being Fang Guohua and Li Mingming[19]. - The company has maintained a continuous relationship with Tianjian Accounting Firm for 8 years, with an audit fee of 800,000 CNY for the current period[194]. - The company has not faced any penalties or corrective actions during the reporting period[199]. - The company has reported no significant accounting errors requiring restatement during the reporting period[191].

Financial Performance - Revenue for Q1 2021 reached ¥375,030,218.30, an increase of 62.84% compared to ¥230,304,243.38 in the same period last year[7] - Net profit attributable to shareholders was ¥130,569,345.57, up 46.39% from ¥89,190,527.51 year-on-year[7] - Net profit after deducting non-recurring gains and losses was ¥124,391,597.93, representing an 80.43% increase from ¥68,943,151.81 in the previous year[7] - Basic earnings per share increased to ¥0.33, a 50.00% rise from ¥0.22 in the previous year[7] - Operating profit for Q1 2021 was CNY 156,768,803.99, up 48.0% from CNY 106,038,595.61 in Q1 2020[69] - The total comprehensive income for the period was CNY 135,090,185.91, compared to CNY 86,697,207.88 in the previous year, marking an increase of approximately 55.8%[70] Cash Flow - Net cash flow from operating activities was ¥52,724,072.25, a significant improvement of 740.18% compared to a negative cash flow of ¥8,235,865.28 in the same period last year[7] - Cash flow from operating activities generated a net inflow of CNY 52,724,072.25, a turnaround from a net outflow of CNY -8,235,865.28 in the same quarter last year[76] - The total cash inflow from operating activities was 422,781,049.92 CNY, compared to 232,495,229.52 CNY in the previous period, marking an increase of about 81.7%[81] - The company reported a cash and cash equivalents balance of 16,425,530.57 CNY at the end of the period, down from 18,130,857.12 CNY in the previous period, reflecting a decrease of approximately 9.4%[82] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,744,683,289.84, reflecting a 4.06% increase from ¥2,637,596,622.12 at the end of the previous year[7] - Total liabilities decreased slightly to CNY 492,678,974.21 from CNY 503,657,636.55, a reduction of approximately 2.0%[60] - The company's total equity increased to CNY 2,252,004,315.63 from CNY 2,133,938,985.57, reflecting a growth of about 5.5%[61] - Accounts payable rose significantly to CNY 233,992,171.94 from CNY 179,833,146.20, an increase of approximately 30.1%[59] Investments - The company reported a significant increase in investment income, reaching ¥3,338,885.23, up 868.90% from ¥344,607.25, mainly due to increased maturity of structured deposits[28] - The cash outflow for investment reached ¥1,311,095,604.00, a 119.23% increase from ¥598,040,000.00, primarily due to increased purchases of bank financial products[29] - The total committed investment for the trauma spine orthopedic consumables expansion project is CNY 180 million, with an adjusted total investment of CNY 230 million[43] - The cumulative investment for the trauma spine orthopedic consumables expansion project reached CNY 238.27 million, achieving an investment progress of 103.59%[43] Research and Development - Research and development expenses for Q1 2021 were CNY 31,098,383.66, an increase of 26.1% compared to CNY 24,639,137.42 in Q1 2020[68] - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[64] Government Subsidies and Other Income - The company received government subsidies totaling ¥4,144,922.30 during the reporting period[8] - Other income decreased by 82.59% to ¥4,144,922.30 from ¥23,806,269.18, primarily due to fewer government subsidies received in the current period[28] Financial Management - The company has engaged in wealth management with a total amount of CNY 51.64 million, with no overdue amounts[49] - The independent directors support the company's foreign exchange hedging activities, which aim to reduce exchange rate fluctuation risks[38] - The company has not made significant changes to its accounting policies regarding derivative investments compared to the previous reporting period[38]

Financial Performance - Net profit attributable to shareholders rose by 20.85% to CNY 163,110,152.92 for the reporting period[7] - Operating revenue for the period reached CNY 437,063,530.95, reflecting a growth of 33.76% year-on-year[7] - Basic earnings per share increased by 21.26% to CNY 0.4072[7] - The diluted earnings per share also stood at CNY 0.4072, reflecting a 21.26% increase[7] - The company reported a net interest income from bank deposits and financial products of 2,885.43 million RMB[37] - The net profit attributable to the parent company for the third quarter increased to CNY 933,808,104.80, compared to CNY 747,554,243.27 in the previous year, reflecting a growth of 24.9%[56] - Net profit for the third quarter was CNY 167,215,826.05, up 20.2% from CNY 139,173,195.79 year-over-year[63] - The total comprehensive income for the period was ¥431,915,431.66, compared to ¥352,948,341.89 in the previous year, indicating a growth of 22.4%[70] Assets and Liabilities - Total assets increased by 7.93% to CNY 2,416,377,220.39 compared to the end of the previous year[7] - The total assets as of September 30, 2020, amounted to approximately CNY 2.42 billion, an increase from CNY 2.24 billion at the end of 2019[53] - The company's total liabilities decreased to CNY 465,401,044.96 from CNY 485,310,074.39, a reduction of about 4.5%[56] - The total assets as of Q3 2020 were ¥2,238,773,031.97, remaining stable compared to the previous year[87] - Total liabilities amounted to ¥485,310,074.39, with total equity at ¥1,753,462,957.58, resulting in total assets of ¥2,238,773,031.97[91] Cash Flow - The net cash flow from operating activities was CNY 119,890,036.55, up by 5.58% compared to the previous year[7] - Cash flow from operating activities amounted to CNY 279.20 million, up from CNY 204.96 million in the same quarter last year, reflecting a growth of about 36%[80] - The company reported cash inflow from investment activities of CNY 3.78 billion, compared to CNY 3.18 billion in the same period last year, showing an increase of about 18.8%[80] - The net cash flow from financing activities was negative CNY 253.29 million, worsening from negative CNY 203.29 million in the previous year[81] Investments - The company has invested 42,954.13 million RMB from raised funds, with 9,479.88 million RMB utilized in the first nine months of 2020[37] - The trauma spine orthopedic consumables expansion project has exceeded its investment target, reaching 103.59% completion with a total investment of 23,826.56 million RMB[40] - The joint prosthesis production project has achieved 105.72% of its investment target, totaling 6,343.07 million RMB[40] - The R&D center construction project has utilized 82.66% of its planned investment, amounting to 7,439.44 million RMB[40] - The marketing network construction project has reached 115.65% of its investment target, totaling 5,345.06 million RMB[40] Expenses - The company's sales expenses increased by 37.39% to ¥355,700,292.20, due to higher marketing and salary expenses[24] - Total operating costs amounted to CNY 248,172,336.75, up from CNY 180,158,363.19, indicating a rise of 37.7% year-over-year[62] - Research and development expenses increased to CNY 29,303,975.81, representing a rise of 16.5% from CNY 25,164,343.94 in the previous year[62] Other Income and Subsidies - The company received government subsidies amounting to CNY 46,895,147.83 during the reporting period[9] - Other income rose by 90.16% to ¥46,987,540.74, primarily from increased government subsidies received[24] Shareholder Information - The top shareholder, Changdu Dabo Tongshang Medical Investment Management Co., Ltd., holds 44.73% of the shares[12] - The total equity attributable to shareholders of the parent company reached CNY 1,923,883,655.65, up from CNY 1,721,832,928.59, an increase of 11.7%[56] Accounting and Reporting - The company has not changed its accounting policies for derivative investments compared to the previous reporting period[33] - The implementation of the revised revenue recognition standard is not expected to significantly impact the company's revenue recognition methods or its net profit, total assets, and net equity[91] - The third quarter report was not audited, indicating that the figures presented are preliminary[98]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥672,795,529.06, representing a 23.80% increase compared to ¥543,448,928.40 in the same period last year[22]. - The net profit attributable to shareholders was ¥264,485,188.61, an increase of 27.38% from ¥207,634,426.46 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥230,066,861.66, up 20.19% from ¥191,425,280.92[22]. - The net cash flow from operating activities was ¥159,311,626.30, a significant increase of 74.29% compared to ¥91,407,479.65 in the same period last year[22]. - Basic and diluted earnings per share were both ¥0.6609, reflecting a 27.93% increase from ¥0.5166[22]. - Total assets at the end of the reporting period were ¥2,497,177,085.23, an increase of 11.54% from ¥2,238,773,031.97 at the end of the previous year[22]. - The net assets attributable to shareholders were ¥1,758,687,159.13, up 2.14% from ¥1,721,832,928.59 at the end of the previous year[22]. - The overall gross profit margin for the reporting period was 85.63%[69]. - The gross profit margin for the medical device manufacturing sector was 85.64%, slightly up by 0.99% from the previous year[81]. Business Operations - The main business of the company includes the production, research and development, and sales of high-value medical consumables, with no significant changes reported during the period[29]. - The company’s primary products include orthopedic trauma implants, spinal implants, joint implants, minimally invasive surgical consumables, and dental implants[29]. - The company has established a comprehensive procurement management system to ensure the quality of purchased materials and regulate procurement behavior[40]. - The procurement plan is determined annually based on sales forecasts, with the procurement department responsible for sourcing from qualified suppliers[41]. - Suppliers are required to provide necessary certifications and must pass ISO9001/ISO13485 quality system certification[42]. - The procurement department follows a principle of prioritizing quality over price when selecting suppliers and negotiating contracts[43]. - The company maintains a stable growth in business, driven by product quality comparable to international first-line brands, a comprehensive marketing network, extensive clinical acceptance, continuous innovation and R&D capabilities, and an excellent management team[55]. - The orthopedic implant medical consumables market in China is experiencing annual growth due to factors such as a large population base, accelerated aging, and increasing medical demand[56]. - The company has established a marketing operation center with over 400 sales and support personnel to enhance sales capabilities and marketing functions[51]. - The sales model primarily consists of a distribution model, where products are sold to distributors who then sell to end-users, and a delivery model in specific regions[50]. - The company implements a strict production process in accordance with ISO13485 and other regulatory standards, ensuring product quality through comprehensive monitoring and measurement[48]. - The company has a framework production plan based on annual sales forecasts, adjusting monthly production plans according to inventory and demand[47]. - The company actively engages in market promotion through training, academic support, and participation in medical conferences, enhancing brand awareness and product recognition[54]. Research and Development - Research and development investment amounted to ¥55,442,412.75, a 30.71% increase compared to the previous year, reflecting the company's commitment to product innovation[73]. - The company holds 252 patents, including 30 invention patents, indicating a strong R&D capability[59]. - The company has 39 batches of registration certificates currently under application, covering various medical fields, enhancing its competitive edge[73]. - The company obtained 5 new registration certificates during the reporting period, including key products in trauma and spine categories, strengthening its product lineup[73]. - Significant investment in R&D for orthopedic consumables is necessary, as failure to develop competitive new products could diminish market competitiveness and future profitability[109]. - The company is committed to increasing R&D investment to align with industry trends and ensure sustainable development through product innovation[109]. Risk Management - The company has outlined future risks and corresponding measures in the report, emphasizing the importance of risk awareness for investors[5]. - The company faces risks from market competition and product price declines, prompting strategies to optimize product structure and develop new products[107]. - The company is closely monitoring national regulatory dynamics and policy changes to adjust its operational strategies accordingly[107]. - The company faces risks from foreign operations and exchange rate fluctuations, particularly in countries like Russia, Ukraine, and Chile, which could impact sales and purchasing power due to currency depreciation[108]. - The company plans to accelerate the establishment of a global sales network to mitigate market volatility risks and closely monitor exchange rate fluctuations to reduce foreign exchange losses[108]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has committed to ensuring the authenticity, accuracy, and completeness of its listing announcement[128]. - The company has pledged to compensate investors for direct losses incurred due to reliance on its commitments, with measures including using its own funds for compensation[122]. - The company confirmed that there were no undisclosed related party transactions during the reporting period[124]. - The company will avoid related party transactions with its subsidiaries and ensure that any unavoidable transactions are conducted on fair and reasonable terms[124]. - The company has committed to not using its position to seek improper benefits that could harm the interests of its shareholders[124]. - The company has established a mechanism to ensure compliance with its commitments, including restrictions on salary increases for executives until all commitments are fulfilled[122]. - The company has committed to not engaging in any activities that could harm the interests of its shareholders or the company itself[124]. - The company will not issue any securities until it has fully addressed any negative impacts from unfulfilled commitments[122]. - The company reported a commitment to stabilize its stock price for three years post-IPO, with measures including share buybacks if the stock price remains below net asset value per share[120]. - The company and its actual controllers committed to ensuring that the prospectus does not contain false records or misleading statements, bearing legal responsibility for its accuracy[120]. - The actual controllers have made commitments to avoid competition with the company and its subsidiaries[128]. Environmental and Social Responsibility - The company has implemented measures for pollution prevention, including the installation of dust and acid mist treatment equipment, ensuring compliance with emission standards[158]. - The company conducted internal monitoring of wastewater discharge twice a month and commissioned external testing at least once a year[162]. - The company completed the environmental impact assessment for its expansion project in June 2020, receiving approval from the ecological environment bureau[163]. - The company made a targeted donation of 300,000 CNY for poverty alleviation in June 2020[160]. - The company plans to actively respond to national poverty alleviation initiatives, enhancing collaboration with relevant organizations[165]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 11,882, with the largest shareholder, Changdu Dabotong Medical Investment Management Co., Ltd., holding 44.73% of shares, equating to 179,928,000 shares[180]. - Dabotong Medical International Investment Co., Ltd. held 22.89% of shares, amounting to 92,064,290 shares, while Lin Zhijun held 20.09% with 80,807,710 shares[186]. - The top ten shareholders did not engage in any repurchase agreements during the reporting period[191]. - There were no changes in the controlling shareholder or actual controller during the reporting period[192]. - The company does not have any preferred shares or convertible bonds as of the reporting period[195][198].

Financial Performance - The company's operating revenue for Q1 2020 was ¥230,304,243.38, representing a 5.89% increase compared to ¥217,501,203.83 in the same period last year[8]. - The net profit attributable to shareholders was ¥89,190,527.51, up 7.85% from ¥82,700,447.72 year-on-year[8]. - The net profit after deducting non-recurring gains and losses decreased by 6.62% to ¥68,943,151.81 from ¥73,832,663.91 in the previous year[8]. - The basic earnings per share for the period was ¥0.22, a 4.76% increase from ¥0.21 in the same period last year[8]. - The weighted average return on net assets was 5.05%, down from 5.58% in the previous year[8]. - Total operating revenue for the current period reached ¥230,304,243.38, an increase from ¥217,501,203.83 in the previous period, representing a growth of approximately 5.8%[38]. - Net profit for the current period was ¥89,492,535.97, compared to ¥85,915,896.51 in the previous period, reflecting an increase of approximately 3.0%[40]. - The total profit for the current period was ¥106,055,139.17, compared to ¥104,193,814.96 in the previous period, indicating a growth of about 1.8%[40]. - Comprehensive income for the current period totaled ¥86,697,207.88, slightly up from ¥85,954,070.48 in the previous period[41]. Cash Flow - The net cash flow from operating activities was negative at -¥8,235,865.28, a decline of 125.16% compared to ¥32,733,896.57 in the same period last year[8]. - Cash received from other operating activities increased by 168.27% to ¥25,209,568.12 from ¥9,397,078.38, primarily due to higher government subsidies[19]. - Cash paid for operating activities increased by 206.11% to ¥82,127,296.13 from ¥26,829,182.48, largely due to increased market promotion expenses[19]. - Operating cash inflow totaled CNY 266,198,063.15, an increase of 24.4% from CNY 213,900,427.60 in the previous period[48]. - The company reported a net increase in cash and cash equivalents of CNY 16,716,522.10, compared to a decrease of CNY -33,583,085.67 in the previous period[49]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,266,235,337.12, an increase of 1.23% from ¥2,238,773,031.97 at the end of the previous year[8]. - The total liabilities decreased to CNY 421,013,802.70 from CNY 485,310,074.39, a reduction of about 13.2%[32]. - The company's equity attributable to shareholders increased to CNY 1,812,928,947.69 from CNY 1,721,832,928.59, showing a growth of approximately 5.3%[33]. - The company reported a decrease in current liabilities to CNY 363,684,950.82 from CNY 425,753,582.13, a decline of approximately 14.6%[32]. - Total assets amounted to CNY 2,238,773,031.97, with non-current assets totaling CNY 591,066,638.88[55]. Expenses - Total operating costs amounted to ¥146,747,056.04, up from ¥114,607,844.51, indicating a rise of about 28.0%[39]. - Research and development expenses increased by 35.20% to ¥24,639,137.42 from ¥18,223,591.57, reflecting higher personnel costs and increased investment in new product development[18]. - Sales expenses rose by 57.84% to ¥86,875,731.80 from ¥55,039,458.93, driven by increased market development and technical service costs[18]. - The company reported a decrease in tax expenses to ¥16,562,603.20 from ¥18,277,918.45, a reduction of approximately 9.4%[40]. Government Subsidies - The company received government subsidies amounting to ¥23,806,269.18 during the reporting period[9]. - Other income surged by 652.16% to ¥23,806,269.18 from ¥3,165,074.42, mainly due to increased government subsidies received during the period[18].

Dividend and Financial Performance - The company plans to distribute a cash dividend of 6.00 RMB per 10 shares (including tax) to all shareholders based on the total share capital as of the equity distribution date[4]. - The company's operating revenue for 2019 was ¥1,257,317,998.46, representing a 62.77% increase compared to ¥772,469,529.01 in 2018[24]. - The net profit attributable to shareholders for 2019 was ¥465,490,905.65, a 25.32% increase from ¥371,453,093.03 in 2018[24]. - The net profit excluding non-recurring gains and losses was ¥422,846,292.59, up 30.23% from ¥324,695,816.45 in 2018[24]. - The company's cash flow from operating activities for 2019 was ¥433,877,268.05, a 29.56% increase from ¥334,876,268.42 in 2018[24]. - Basic and diluted earnings per share for 2019 were both ¥1.16, reflecting a 24.73% increase from ¥0.93 in 2018[26]. - The total assets at the end of 2019 were ¥2,238,773,031.97, a 34.46% increase from ¥1,665,064,091.68 at the end of 2018[26]. - The net assets attributable to shareholders at the end of 2019 were ¥1,721,832,928.59, up 19.58% from ¥1,439,889,332.18 at the end of 2018[26]. - The company reported quarterly revenues of ¥387,107,300.13 in Q4 2019, with a total annual revenue of ¥1,257,317,998.46[29]. - The company's gross profit margin stood at 85.61% during the reporting period[82]. Business Operations and Strategy - The company has not reported any changes in its main business since its listing[21]. - The company’s main business involves the production, research, and sales of high-value medical consumables, with no significant changes reported in 2019[36]. - The company has a diverse product range including orthopedic trauma implants, spinal implants, and minimally invasive surgical consumables[36]. - The company reported a focus on spinal fusion devices, cranioplasty titanium mesh series, and other neurosurgical implant consumables for various surgical treatments[44]. - The company’s product offerings include hip and knee joint prostheses for conditions such as osteoarthritis and rheumatoid arthritis, indicating a broad market presence in orthopedic solutions[47]. - The company employs a distribution-focused sales model, primarily through dealers, with a significant increase in sales revenue and expenses in regions implementing a two-invoice system[60]. - The company has established a marketing operation center with over 400 sales and support personnel, covering all regions in mainland China and some overseas areas[61]. - The company has expanded its consolidation scope to include additional subsidiaries, enhancing its operational footprint[103]. Research and Development - The company has developed a comprehensive R&D system with 227 patents, including 30 invention patents, and holds 69 Class III medical device registrations[71]. - R&D investment amounted to ¥100,377,356.04, reflecting a growth of 54.88% year-on-year[85]. - The company is actively pursuing new product development in the orthopedic sector, with several products expected to launch in the coming years[116]. - The company plans to enhance its R&D capabilities and accelerate new product development, particularly in orthopedic implants and minimally invasive surgery[196]. - The company will invest in a new R&D technology center to improve its independent R&D capabilities and product development efficiency[199]. Quality Control and Compliance - The procurement management system is designed to ensure quality and compliance, with suppliers required to meet ISO9001/ISO13485 certification standards[49]. - The company emphasizes strict adherence to ISO13485 and other regulatory standards in its production processes to ensure product quality and compliance[58]. - The company emphasizes product quality, adhering to international standards and maintaining strict quality management throughout the production process[73]. - The company is committed to maintaining high standards of quality and compliance in its product development processes, ensuring safety and efficacy for patients[114]. Market Trends and Opportunities - The orthopedic implant market in China is growing due to an aging population and increasing medical demand, presenting opportunities for domestic brands[67]. - The company is strategically positioning itself for future growth by diversifying its product offerings and enhancing its technological capabilities[114]. - The company is leveraging its expertise in orthopedic solutions to capture a larger share of the growing global medical device market[114]. Subsidiary Performance - Subsidiary Shiai De (Xiamen) Medical Equipment Co., Ltd. reported a total asset growth of 93.76% and a net asset growth of 63.45% year-on-year as of December 31, 2019[191]. - Subsidiary Sako (Xiamen) Medical Technology Co., Ltd. experienced total asset growth of 37.45% and net asset growth of 62.17% year-on-year as of December 31, 2019[191]. - Subsidiary Boyi Ning (Xiamen) Medical Devices Co., Ltd. achieved total asset growth of 98.60% and net asset growth of 18.86% year-on-year as of December 31, 2019[194]. Cash Flow and Investments - Operating cash inflow for 2019 was CNY 1,395.27 million, an increase of 48.85% compared to 2018, primarily due to expanded sales leading to increased collections[124]. - Investment cash inflow reached CNY 4,133.49 million, a 35.33% increase from the previous year, driven by increased frequency and scale of bank financial product purchases[125]. - The total amount of raised funds in 2017 was RMB 42,621.86 million, with RMB 21,471.65 million utilized by the end of the reporting period, representing 50.38% of the total raised[141].

Financial Performance - Operating revenue for the reporting period was CNY 326,761,769.93, representing a year-on-year increase of 69.20%[7] - Net profit attributable to shareholders was CNY 134,968,854.64, up 24.91% from the same period last year[7] - The net profit after deducting non-recurring gains and losses was CNY 123,951,253.12, reflecting a growth of 30.84%[7] - Basic earnings per share were CNY 0.3358, up 24.37% year-on-year[7] - The company's operating revenue for the current period reached RMB 870,210,698.33, representing a 59.56% increase compared to RMB 545,391,462.87 in the previous period, primarily due to expanded sales scale and changes in marketing strategy[25] - The company's operating revenue for the current period reached CNY 255,992,407.07, a 61.3% increase compared to CNY 158,701,885.17 in the previous period[69] - The total profit for the current period was CNY 171,419,886.80, compared to CNY 126,378,383.88 in the previous period, reflecting robust growth[66] - The total comprehensive income attributable to the parent company was CNY 134,332,644.27, up from CNY 108,068,657.97, showing strong overall performance[68] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 1,998,994,626.94, an increase of 20.06% compared to the end of the previous year[7] - The total liabilities of the company reached CNY 383,248,701.70, compared to CNY 207,221,175.94 at the end of 2018, marking an increase of approximately 85%[51] - The total assets of the company as of September 30, 2019, amounted to CNY 1,867,352,760.73, compared to CNY 1,627,355,476.11 at the end of 2018, marking a growth of about 14.7%[63] - The total liabilities increased to CNY 313,419,408.75 from CNY 217,142,204.46, which is an increase of approximately 44.3%[61] - The total assets of the company were CNY 1,627,355,476.11, showcasing a robust asset base[116] Cash Flow - The net cash flow from operating activities was CNY 113,554,233.26, an increase of 24.81% compared to the previous year[7] - Cash received from operating activities increased by 37.32% to RMB 793,266,747.33, primarily due to higher sales revenue[30] - Operating cash inflow for the period reached ¥865,593,353.16, a significant increase from ¥599,172,168.86 in the previous period, representing a growth of approximately 44.5%[86] - Net cash flow from operating activities was ¥204,961,712.91, compared to ¥193,975,708.73 in the prior period, indicating a slight increase of about 3.5%[89] - Cash and cash equivalents at the end of the period totaled ¥21,769,769.87, down from ¥54,365,905.29, indicating a decrease of about 60%[91] Shareholder Information - The total number of shareholders at the end of the reporting period was 12,013[13] - The largest shareholder, Changdu Dabo Tongshang Medical Investment Management Co., Ltd., held 44.77% of the shares[13] - The company plans to grant 362,600 restricted stocks to 89 core management and technical personnel as part of its incentive program[32] Research and Development - Research and development expenses increased by 50.63% to RMB 67,581,821.52, reflecting higher personnel costs and intensified new product development efforts[28] - Research and development expenses for the quarter were CNY 25,164,343.94, compared to CNY 14,512,524.47 in the previous year, showing an increase of about 73.4%[64] - Research and development expenses increased to CNY 18,371,769.48, up from CNY 11,395,779.85, reflecting the company's commitment to innovation[69] Government Subsidies - Government subsidies recognized during the reporting period amounted to CNY 24,709,669.55[10] - The company received government subsidies amounting to RMB 72,326,605.83, a 236.39% increase compared to the previous period[31] Operational Efficiency - The company's net profit margin improved, with undistributed profits rising to CNY 669,634,180.36 from CNY 527,995,899.26, reflecting an increase of approximately 26.8%[55] - The gross profit margin improved, with operating profit at CNY 171,405,450.76, up from CNY 126,581,719.05, indicating a significant operational efficiency[66] Investment Activities - The company has entrusted wealth management with a total amount of CNY 91,546,000, with an outstanding balance of CNY 63,048,000[40] - The company reported a fair value loss on financial assets of CNY 1,515,335.98 during the reporting period[36] - The company reported cash inflow from financing activities of 43,500,000.00, which was the only inflow recorded in this category[95] Market Strategy - The company plans to continue expanding its market presence and investing in new technologies and products[76]