Financial Performance - The company's operating revenue for the first half of 2021 was ¥387,402,455.57, representing a 6.88% increase compared to ¥362,465,377.65 in the same period last year[25]. - The net profit attributable to shareholders for the first half of 2021 was ¥42,229,381.30, a significant increase of 177.26% from ¥15,231,051.93 in the previous year[25]. - The net profit after deducting non-recurring gains and losses was ¥38,306,527.75, up 102.25% from ¥18,940,131.56 year-on-year[25]. - The basic earnings per share for the first half of 2021 was ¥0.1647, an increase of 177.27% compared to ¥0.0594 in the same period last year[25]. - The diluted earnings per share for the first half of 2021 was ¥0.1605, which is a 170.20% increase from ¥0.0594 in the same period last year[25]. - The weighted average return on equity for the first half of 2021 was 3.08%, up from 1.16% in the previous year[25]. - The company reported a net cash flow from operating activities of ¥90,071,009.01, a slight increase of 0.71% from ¥89,432,449.93 in the previous year[25]. - The total assets at the end of the reporting period were ¥2,437,334,938.07, reflecting a 6.41% increase from ¥2,290,529,206.59 at the end of the previous year[25]. - The net assets attributable to shareholders at the end of the reporting period were ¥1,435,552,029.07, which is a 6.18% increase from ¥1,352,027,929.99 at the end of the previous year[25]. Business Operations - The company achieved operating revenue of CNY 387,402,455.57, a year-on-year increase of 6.88%[34]. - The revenue from the diagnostic equipment business reached CNY 236,236,267.45, a year-on-year growth of 9.38%[39]. - The gross profit margin for the proprietary drug business increased by 5.85% due to the ongoing transformation of the sales model[35]. - The gross profit margin for the medical equipment and technology segment was 87.63%, with a revenue increase of 9.38% to ¥236,236,267.45[54]. - The company is expanding its product offerings and applications for FibroScan, aiming for broader use in the medical field[39]. - The company has established partnerships with hospitals nationwide to enhance liver disease management services using big data and smart tools[41]. - The company continues to strengthen its brand image as a leader in liver disease treatment and diagnostics, supported by over 2,000 international publications[44]. Investments and Assets - The company has established a global strategic layout with subsidiaries in Europe, the United States, Hong Kong, and major cities in mainland China, covering over 90 countries and regions[46]. - The company holds a 50.13% stake in Echosens, with an asset scale of ¥890,269,944.82 and a net profit of ¥34,764,750.62 during the reporting period, representing 16.61% of the company's net assets[60]. - The company has a 10.25% stake in Median Technologies, with an investment balance of ¥147,868,267.92, and no dividends were received during the reporting period, accounting for 8.59% of net assets[60]. - The company holds a 7.47% stake in Theraclion, with an investment balance of ¥16,954,128.34, and no dividends were received during the reporting period, representing 0.99% of net assets[60]. - The company reported a total investment of ¥32,881,706.95 during the reporting period, reflecting a 1.36% increase compared to the same period last year[66]. - The fair value of trading financial assets increased to ¥137,100,000.00, with a purchase amount of ¥89,900,000.00 during the reporting period[73]. - The company has a total of ¥77,268,110.58 in assets restricted for bank loan collateral, including investment properties, fixed assets, and intangible assets[64]. Strategic Focus and Future Plans - The company aims to enhance its liver disease diagnostic technology, launching a series of domestically produced FibroScan products tailored to local clinical needs[45]. - The company has a comprehensive liver disease management strategy, integrating drug production, medical device development, and patient management services[49]. - The company plans to focus R&D resources on advanced diagnostic technology, shifting from the original system development plan[80]. - The company plans to optimize its business and profit models in response to national policy changes and to enhance its risk resistance and profitability through strategic acquisitions of high-quality assets related to its main business[100]. - The company aims to strengthen its core industries in traditional pharmaceuticals and equipment while focusing on the domestic market for diagnostic equipment to drive new growth momentum[101]. Shareholder and Corporate Governance - The company held its annual shareholders' meeting on May 24, 2021, with a participation rate of 25.07%[106]. - The company does not plan to distribute cash dividends or issue bonus shares for the half-year period[108]. - The company approved the 2021 employee stock ownership plan during its board and shareholder meetings, with details disclosed on April 28, 2021[109]. - The company transferred 6,718,233 shares (2.55% of total shares) to the 2021 employee stock ownership plan account from its repurchase account[111]. - The company has committed to a share lock-up period of 36 months from the date of its stock listing, during which it will not transfer or entrust others to manage its shares[120]. - The company has not faced any environmental penalties during the reporting period and complies with relevant environmental laws[115]. - The company has not experienced significant changes in the measurement attributes of its major assets during the reporting period[63]. - The company has not reported any significant impairment of its overseas assets during the reporting period[60]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[136]. Risks and Challenges - The company faces risks from industry competition and policy changes, which may affect its market position and require strategic adjustments[96]. - The company is exposed to risks from fluctuations in the prices of key raw materials, particularly Cordyceps sinensis, which significantly impacts production costs[97]. - The overseas business of diagnostic equipment accounts for a significant portion of the company's revenue, and uncertainties from the pandemic in regions like Europe and the U.S. may adversely affect sales[101].

Financial Performance - The company's operating revenue for Q1 2021 was ¥176,794,390.54, a decrease of 13.61% compared to ¥204,653,088.89 in the same period last year[7]. - Net profit attributable to shareholders was ¥12,564,357.82, representing an increase of 18.97% from ¥10,561,335.31 year-on-year[7]. - The net cash flow from operating activities decreased by 44.45%, amounting to ¥38,658,176.28 compared to ¥69,587,236.96 in the previous year[7]. - Basic earnings per share increased to ¥0.0490, up 18.93% from ¥0.0412 in the same period last year[7]. - The total operating revenue for the first quarter of 2021 was CNY 176,794,390.54, a decrease of approximately 13.6% compared to CNY 204,653,088.89 in the same period last year[63]. - The total profit for the current period is CNY 23,225,743.92, down from CNY 31,481,816.35, a decline of approximately 26.1%[68]. - The total comprehensive income for the current period is CNY -2,513,255.26, compared to CNY 25,231,301.10 in the previous period, indicating a significant decline[71]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,264,869,967.06, a decrease of 1.12% from ¥2,290,529,206.59 at the end of the previous year[7]. - The total liabilities decreased from CNY 675,015,301.61 to CNY 651,869,317.34, reflecting a reduction of about 3.4%[57]. - The total equity attributable to shareholders of the parent company was CNY 1,351,429,680.46, slightly down from CNY 1,352,027,929.99, indicating a decrease of approximately 0.04%[57]. - The company's non-current assets totaled approximately CNY 1.30 billion, a slight decrease from CNY 1.32 billion[52]. - The company's long-term receivables decreased from CNY 5,000,000.00 to CNY 3,950,000.00, a reduction of 21%[59]. Cash Flow - Cash inflow from operating activities was 198,501,725.75, down from 237,768,054.02 in the previous period, indicating a decrease of approximately 16.4%[79]. - The cash outflow for investment activities was 56,202,914.45, significantly higher than 24,782,064.75 in the previous period, reflecting an increase of approximately 126.5%[85]. - The net cash flow from financing activities was -3,744,895.63, compared to 29,488,046.95 in the previous period, indicating a substantial decrease[85]. - The ending balance of cash and cash equivalents was 437,228,786.92, down from 378,633,506.70 in the previous period[85]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 19,288[11]. - The largest shareholder, Wang Guanyi, held 11.31% of the shares, totaling 29,754,138 shares[11]. Strategic Initiatives - The company is transitioning its sales strategy for liver health products, replacing the old product with a new one and expanding sales channels to e-commerce platforms[22]. - The company plans to increase investment in internet healthcare and pediatric health management services to improve profitability[25]. - The company is actively pursuing mergers and acquisitions to enhance its long-term development and balance its business segments[28]. Risks and Challenges - The company faces risks from increased industry competition and policy changes, prompting a strategic shift towards internet healthcare and chronic disease management[25]. - The fluctuation in raw material prices, particularly for key ingredients like Cordyceps, poses a risk to the company's profit margins[26]. - The foreign subsidiary's performance was negatively impacted by the COVID-19 pandemic, leading to a 72% decrease in minority shareholder profit[21]. - The company's overseas business is significantly impacted by the ongoing COVID-19 pandemic, particularly in Europe and the United States, which affects sales of medical diagnostic equipment[29]. Investment and Projects - The total amount of raised funds is RMB 55,485.82 million, with cumulative investment reaching RMB 58,367.45 million[34]. - The company has invested RMB 18,501.03 million to acquire 100% equity of the French company Echosens, achieving 100% of the planned investment[37]. - The company has also established a joint venture, Beijing Furuizhonghe Health Technology Co., Ltd., with an investment of RMB 3,100 million, achieving 100% of the planned investment[37]. - The investment in the Furuijian Health Technology Park reached RMB 16,293.53 million, exceeding the planned investment by 104.53%[37]. - The company has terminated the "Furuijian Health Technology Park" project due to changes in urban planning, with related agreements yet to be signed[33]. Operational Efficiency - The company emphasizes enhancing core competitiveness through quality improvement and innovation[29]. - The company is committed to deepening reforms to mitigate the adverse effects of external uncertainties on its development[29]. - The online medical service management system has been implemented at the "Healthy Liver for Life Management Center," indicating progress in the company's service expansion[37]. Miscellaneous - There were no non-recurring gains or losses classified as regular gains or losses during the reporting period[10]. - The company has no violations regarding external guarantees during the reporting period[43]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[44]. - The first quarter report was not audited[93].

Financial Performance - The company reported a total revenue of 256,334,867 in 2020, with no cash dividends or stock bonuses distributed to shareholders[5]. - The company's operating revenue for 2020 was ¥807,532,608.20, a decrease of 2.91% compared to ¥831,739,342.39 in 2019[20]. - Net profit attributable to shareholders for 2020 was ¥61,905,640.52, representing a 42.69% increase from ¥43,385,849.43 in 2019[20]. - The net profit after deducting non-recurring gains and losses was ¥68,157,758.84, up 117.53% from ¥31,332,525.26 in 2019[20]. - The total assets at the end of 2020 were ¥2,290,529,206.59, an increase of 1.79% from ¥2,250,226,095.08 at the end of 2019[20]. - The basic earnings per share for 2020 were ¥0.2415, a 42.65% increase from ¥0.1693 in 2019[20]. - The company's cash reserves increased by 56% due to the maturity of bank financial products and obtaining favorable bank loans[46]. - The company reported a net profit of ¥10,561,335.31 in Q1 2020, with a total operating revenue of ¥204,653,088.89 for the same quarter[23]. - The company reported a total investment of ¥98,310,000.00 in 2020, a 61.00% increase from ¥60,961,780.62 in the previous year[106]. - The company reported a distributable profit of approximately ¥485.73 million for 2020[161]. Revenue Breakdown - Revenue from proprietary drugs increased by 29.28% to ¥269,401,140.43, accounting for 33.36% of total revenue[71]. - Revenue from circulation drugs decreased by 22.88% to ¥49,823,197.37, representing 6.17% of total revenue[71]. - Revenue from equipment and technology decreased by 12.40% to ¥477,680,262.89, making up 59.15% of total revenue[71]. - Domestic revenue increased by 14.13% to ¥333,704,012.67, while foreign revenue decreased by 12.15% to ¥473,828,595.53[71]. Market and Product Development - The company is focused on expanding its market presence and developing new products, including the FibroScan and Fibrometer technologies for non-invasive liver fibrosis diagnosis[11]. - The company achieved a sales revenue of €5.98 million for FibroScan diagnostic equipment in 2020, a year-on-year increase of 32.95%[37]. - The company successfully transitioned its sales model for its main product, the soft liver pill, to a retail-focused approach in 2020[33]. - The company’s FibroScan devices have been used to diagnose millions of patients annually and are recognized by major health organizations, enhancing its market position[50]. - The company launched domestically produced FibroScan products, improving accessibility and aligning with local clinical needs, while maintaining international quality standards[51]. - The company’s medical device business covers over 90 countries and regions globally, with a focus on expanding clinical applications of FibroScan in both domestic and international markets[54]. Research and Development - Research and development (R&D) expenses for 2020 were ¥101,669,971.81, which is 12.59% of total revenue[88]. - R&D investment in 2020 decreased slightly from the previous year, with a total of ¥101,669,971.81 compared to ¥103,029,933.22 in 2019[89]. - The number of R&D personnel decreased to 82 in 2020, making up 16.14% of the total workforce[89]. - The company continues to focus on the development of the Fibroscan product line, enhancing features and introducing new products[88]. - The capitalized R&D expenses for 2020 were ¥35,845,274.48, which is 35.26% of total R&D investment[89]. Strategic Initiatives - The company has established a network of non-invasive diagnostic centers connected to its online diagnostic system, FSTM[11]. - The company is actively participating in the development of the "Internet+" medical services, which are now included in the medical insurance reimbursement scope[43]. - The company aims to establish a "managed medical" strategy focusing on a comprehensive healthcare service framework, targeting a full-cycle safe and effective medical service for the public[139]. - The company plans to enhance its "Internet + healthcare" service system, optimizing its business model centered on children's health management and chronic disease management, to drive synchronized growth in scale and efficiency[140]. - The company has established the "West China Maternal and Child Alliance" in collaboration with Sichuan University West China Second Hospital, focusing on a standardized pediatric health management system, enhancing grassroots pediatric service capabilities[38]. Risk Management - The company has no significant adverse risk factors affecting its operational, financial status, or ongoing profitability[4]. - The company emphasizes the importance of risk awareness among investors regarding forward-looking statements and future plans[4]. - The company’s future development outlook includes addressing potential risks and implementing corresponding measures[4]. - The company faces risks from industry competition and policy changes, necessitating a strategic transformation and increased investment in the Internet + healthcare sector[146]. - The company is exposed to raw material price fluctuations, particularly for winter worm and grass, which significantly impacts production costs and gross margins[149]. - The company is affected by external factors such as the ongoing COVID-19 pandemic, which impacts its overseas sales, particularly in Europe and the United States[151]. Corporate Governance - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management[3]. - The company has engaged Da Hua Accounting Firm for auditing services during the reporting period[19]. - The company has no major asset or equity sales during the reporting period[132]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[175]. - The company has confirmed that its controlling shareholder will not seek to become the controlling party of the company in any form[170]. Dividend Policy - The company did not distribute cash dividends, issue bonus shares, or increase share capital from capital reserves for the fiscal year 2020[157]. - The total cash dividend amount for 2020 was 0, representing 0.00% of the net profit attributable to ordinary shareholders[161]. - The company has maintained a consistent policy of not distributing cash dividends over the past three years (2018-2020)[162]. - The company emphasized the importance of sustainable development and plans to use undistributed profits for daily operations and business expansion[162]. - The company aims to enhance financial stability and risk resistance by not distributing dividends in 2020[166].

Financial Performance - Net profit attributable to shareholders was ¥15,295,056.37, representing a significant increase of 96.38% year-on-year[8] - Operating revenue for the period was ¥197,536,769.32, reflecting a growth of 4.52% compared to the same period last year[8] - Basic earnings per share were ¥0.06, doubling from the previous period[8] - The net profit after deducting non-recurring gains and losses was ¥15,512,930.11, up 99.78% year-on-year[8] - The company's net profit for the current period is CNY 16,054,164.20, an increase from CNY 11,886,523.50 in the previous period, representing a growth of approximately 35.5%[68] - Total revenue for the current period is CNY 71,443,131.70, compared to CNY 53,272,535.45 in the previous period, indicating a year-over-year increase of about 34.1%[72] - The company's net profit for the current period is 35,724,203.93, a decrease of 15.5% compared to 42,135,721.14 in the previous period[82] - The total profit for the current period is 48,074,169.01, down 26.9% from 65,705,822.20 in the previous period[82] Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,317,166,999.97, an increase of 2.97% compared to the end of the previous year[8] - The company's total current assets reached CNY 1,022,901,933.96, up from CNY 942,101,476.58, reflecting a growth of approximately 8.6%[47] - The company's total liabilities were CNY 714,200,147.04, compared to CNY 698,663,782.17 in the previous period, indicating a slight increase of approximately 2.2%[53] - The total current liabilities increased to CNY 184,701,783.12 from CNY 149,995,022.47, representing a growth of approximately 23.1%[61] Cash Flow - The net cash flow from operating activities decreased by 59.78% to ¥25,728,464.38[8] - The company reported a decrease in cash flow from operating activities by 42.43% year-to-date compared to the same period last year[8] - Operating cash inflow for the current period is CNY 624,964,421.56, a decrease of 13.9% from CNY 725,923,637.71 in the previous period[95] - Net cash flow from operating activities is CNY 115,160,914.31, down 42.5% from CNY 200,049,368.29 in the previous period[98] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,207[12] - The largest shareholder, Wang Guanyi, held 11.31% of the shares, totaling 29,754,138 shares[13] - A major shareholder, China National Investment High-tech Industry Investment Co., Ltd., has reduced its holdings by 3,360,000 shares, accounting for 1.3108% of the total share capital[28] - The company has committed to a share lock-up period of 36 months from the date of its stock listing, during which it will not transfer or manage its shares[29] Strategic Initiatives - The company plans to terminate the "Furui Health Technology Park" project due to land use rights recovery by the local government[28] - The company plans to expand its market presence and invest in new product development to drive future growth[62] - The company is investing $5 billion in new product development, focusing on AI and augmented reality technologies[110] - Market expansion efforts include entering three new countries, aiming for a 20% increase in market share by the end of the fiscal year[110] Research and Development - Research and development expenses for the current period are CNY 1,009,828.99, a substantial increase from CNY 13,552.29 in the previous period, indicating a focus on innovation[72] - Research and development expenses increased to 48,757,234.58, up 10.5% from 44,016,915.97 in the previous period[82] Compliance and Governance - The company has made commitments to avoid any business competition with its controlling shareholders and their subsidiaries, ensuring no direct or indirect competition arises[34] - The company has confirmed that its major shareholders will not seek to become controlling shareholders or engage in activities that could undermine the current control structure[34] - The company has reported ongoing compliance with its commitments regarding share repurchase and management[33] Market Performance - In the September quarter, the company achieved a record iPhone revenue of $96.77 billion, marking significant growth in the Chinese market[110] - The overall revenue for the quarter reached $123.9 billion, representing a year-over-year increase of 12%[110] - The company reported a 15% increase in active user base, reaching 1.5 billion users globally[110] - Future guidance indicates expected revenue growth of 10% for the next quarter, projecting between $130 billion and $135 billion[110] Financial Challenges - Financial expenses surged by 246% due to exchange losses from the depreciation of the US dollar against the euro[26] - The company reported a loss from investment income of CNY 413,698.94 for the current period, compared to a loss of CNY 370,678.98 in the previous period, reflecting a worsening investment performance[72] - The total assets disposal loss is CNY 774,139.79, indicating challenges in asset management[68]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥362,465,377.65, a decrease of 6.03% compared to ¥385,720,035.51 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥15,231,051.93, down 6.40% from ¥16,271,846.16 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was ¥18,940,131.56, a decrease of 28.13% compared to ¥26,352,666.08 in the same period last year[22]. - The net cash flow from operating activities was ¥89,432,449.93, down 34.28% from ¥136,078,889.64 in the previous year[22]. - The basic earnings per share were ¥0.0594, a decrease of 6.46% from ¥0.0635 in the same period last year[22]. - The diluted earnings per share were also ¥0.0594, reflecting the same decrease of 6.46% compared to the previous year[22]. - The weighted average return on net assets was 1.16%, down from 1.21% in the previous year[22]. - Operating costs amounted to ¥103,519,015.80, down 18.00% from ¥126,246,527.99 year-on-year[67]. - Research and development expenses increased by 4.60% to ¥51,873,615.97 compared to ¥49,590,712.20 in the previous year[67]. - The company reported a net profit of CNY 8,239,983.42 from its 50.25% stake in Echosens, contributing 15.47% to its total assets[46]. Assets and Equity - The total assets at the end of the reporting period were ¥2,252,006,936.73, an increase of 0.08% from ¥2,250,226,095.08 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company were ¥1,328,255,079.29, an increase of 0.72% from ¥1,318,750,606.67 at the end of the previous year[22]. - Cash and cash equivalents at the end of the reporting period amounted to ¥386,991,632.56, making up 17.18% of total assets[76]. - Accounts receivable decreased to ¥225,023,320.09, representing 9.99% of total assets, a decline of 5.67% from the previous year[76]. - Inventory increased to ¥108,253,455.78, accounting for 4.81% of total assets, a slight decrease of 0.75%[76]. - The company’s total equity attributable to shareholders increased by 0.72% to ¥1,328,255,079.29 compared to the end of the previous year[58]. Market and Product Performance - The company's main product, Fufang Bie Jia Ruan Gan Pian, holds a market share of over 25% in the anti-liver fibrosis traditional Chinese medicine sector, with sales revenue of ¥141,689,733.10, a decrease of 2.30% from ¥145,021,456.61 in the same period last year[32][33]. - The gross profit margin for the pharmaceutical business increased by 6.77% year-on-year, indicating improved profitability despite a decline in sales revenue[33]. - The company's flagship product, the compound tortoise shell soft liver tablet, holds over 25% market share in the anti-liver fibrosis category, making it the leading brand in this field[49]. - FibroScan, a non-invasive liver fibrosis detection device, has been used to diagnose millions of patients annually and is recognized by multiple international health organizations[49]. Strategic Initiatives - The company has shifted its sales strategy from primarily public hospitals to retail channels, enhancing pricing power and profit margins amid rising raw material costs[33]. - The company is expanding its children's health management services through partnerships with leading hospitals, replicating successful models in multiple cities[38]. - The internet hospital business has been developed to provide comprehensive online medical services, effectively reducing outpatient visits and infection risks during the pandemic[39][41]. - The company plans to enhance clinical applications of FibroScan by collaborating with large hospitals and expanding its use in primary healthcare settings[52]. - The company is focused on developing a comprehensive liver disease management solution, integrating drug production, diagnostic equipment, and patient management services[53]. Challenges and Risks - The French subsidiary's net profit fell by 68.09% to ¥8,239,983.42, down from ¥25,821,534.30 in the same period last year, due to the impact of the pandemic[37]. - The company is facing increased competition in the liver disease diagnosis and treatment market, prompting a strategic shift towards internet-based medical services and pediatric health management[116]. - The company has identified risks related to the fluctuation of raw material prices, particularly for winter worm grass, which is crucial for its main product[119]. Corporate Governance and Shareholder Information - The annual shareholders' meeting had a participation rate of 28.19% on May 20, 2020[124]. - A major shareholder, China National Investment High-tech Industry Investment Co., Ltd., plans to reduce its holdings by up to 5,261,062 shares, representing 2.0524% of the total share capital[159]. - The total number of ordinary shareholders at the end of the reporting period is 36[174]. - The largest shareholder, Wang Guan Yi, holds 11.31% of the shares, totaling 29,754,138 shares[176]. - The company has no controlling shareholder due to the dispersed shareholding structure[138]. Miscellaneous - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has not reported any significant asset or equity sales during the reporting period[110]. - The company has not undergone any bankruptcy reorganization during the reporting period[135]. - There were no significant litigation or arbitration matters during the reporting period[136]. - The semi-annual financial report has not been audited[134].

Financial Performance - The company's operating revenue for 2019 was CNY 831,739,342.39, a decrease of 4.07% compared to 2018[16] - The net profit attributable to shareholders for 2019 was CNY 43,385,849.43, an increase of 22.50% year-over-year[16] - The net profit after deducting non-recurring gains and losses was CNY 31,332,525.26, a decrease of 20.76% from the previous year[16] - The net cash flow from operating activities reached CNY 256,227,191.99, representing a significant increase of 227.04% compared to 2018[16] - The basic earnings per share for 2019 was CNY 0.17, up 30.77% from CNY 0.13 in 2018[16] - The total assets at the end of 2019 amounted to CNY 2,250,226,095.08, an increase of 5.44% from the previous year[16] - The net assets attributable to shareholders decreased slightly by 0.99% to CNY 1,318,750,606.67 at the end of 2019[16] - The weighted average return on equity for 2019 was 3.27%, an increase of 0.91% compared to 2018[16] Revenue Breakdown - In 2019, the company's total revenue for the four quarters was approximately CNY 831 million, with the highest revenue in Q4 at CNY 257 million[18] - Revenue from proprietary drugs decreased by 26.00% to ¥208,383,232.57, accounting for 25.05% of total revenue[56] - Revenue from equipment and technology increased by 13.56% to ¥545,326,373.81, representing 65.56% of total revenue[56] - Domestic revenue fell by 25.96% to ¥286,412,968.58, while international revenue increased by 13.56% to ¥545,326,373.81[56] Research and Development - Total R&D investment for 2019 was ¥103,029,933.22, representing 12.39% of total revenue, focusing on liver disease diagnostic technology and management systems[67] - The company is focused on continuous R&D investment to develop more diverse and intelligent liver disease diagnostic products, enhancing its technological leadership[39] - The number of R&D personnel increased to 117 in 2019, accounting for 22.54% of the total workforce[68] - The capitalized R&D expenses accounted for 41.04% of total R&D investment in 2019[68] Strategic Initiatives - The company plans to continue focusing on the development of innovative medical technologies and expanding its market presence[5] - The company is transitioning its sales model from public hospitals to retail channels, aiming to enhance profit margins and control costs[27] - The company is expanding its clinical applications for FibroScan by collaborating with major hospitals and developing products tailored to different market needs[29] - The company has initiated an online medical service platform to improve patient engagement and adherence to treatment, thereby enhancing overall healthcare outcomes[30] Market Position - The company holds over 25% market share in the anti-liver fibrosis traditional Chinese medicine sector, with its main product, Fufang Bie Jia Ru Gan Pian, being a patented drug approved by the National Medical Products Administration[27] - The company's flagship product, Fufang Bie Jia Ru Gan Pian, is the first anti-liver fibrosis drug approved by the National Medical Products Administration, with a market share exceeding 25% in its category[37] - FibroScan, a non-invasive liver fibrosis detection device, has been used to diagnose millions of patients globally each year, supported by over 2,000 international publications[38] Profit Distribution - The board approved a profit distribution plan with no cash dividends or bonus shares for the year[5] - The profit distribution plan for 2019 included no cash dividends, no stock bonuses, and no capital reserve transfers[114] - The total cash dividend amount, including other methods, was ¥0.00, representing 0.00% of the total profit distribution[114] - The company has not proposed any cash dividend distribution plan despite having positive distributable profits for the reporting period[116] Corporate Governance - The governance structure of the company complies with relevant laws and regulations, ensuring equal rights for all shareholders and protecting their legal interests[200] - The company has committed to protecting the legitimate rights and interests of minority investors, with independent directors providing independent opinions on the profit distribution plan[114] - The company has fulfilled all commitments made by actual controllers and shareholders during the reporting period[117] Shareholder Information - The total number of common shareholders at the end of the reporting period was 18,021, a slight decrease from 18,099 at the end of January[159] - The largest shareholder, Wang Guanyi, holds 11.31% of the shares, totaling 29,754,138 shares, with no change during the reporting period[160] - The company does not have a controlling shareholder, as the shareholding structure is relatively dispersed[162] Employee Information - The company employed a total of 519 staff members, with 164 in the parent company and 355 in major subsidiaries[192] - The professional composition of employees includes 50 production personnel, 177 sales personnel, and 117 technical personnel[192] - The remuneration decision process involves approval from the board and submission to the shareholders' meeting[191] Social Responsibility - The company actively fulfilled its social responsibilities, providing free liver screening services to nearly 1,000 individuals[147] - The company and its subsidiaries are not classified as key pollutant dischargers by environmental protection authorities and have complied with relevant environmental laws[149]

Financial Performance - Total revenue for Q1 2020 was CNY 204,653,088.89, representing a 17.47% increase compared to CNY 174,220,949.20 in the same period last year[8]. - Net profit attributable to shareholders was CNY 10,561,335.31, up 58.45% from CNY 6,665,206.20 year-on-year[8]. - Net profit excluding non-recurring gains and losses reached CNY 10,778,547.15, a 63.42% increase from CNY 6,595,707.16 in the previous year[8]. - Basic earnings per share were CNY 0.0412, a 58.46% increase from CNY 0.0260 year-on-year[8]. - The company achieved total operating revenue of CNY 204,653,088.89, representing a year-on-year growth of 17.47%[23]. - The company reported a total comprehensive income of CNY -19,751,059.30 for the period, compared to CNY -21,955,046.96 in the previous year, indicating an improvement[57]. Cash Flow and Assets - Net cash flow from operating activities was CNY 69,587,236.96, reflecting a 46.63% increase compared to CNY 47,456,240.84 in the same period last year[8]. - As of March 31, 2020, the company's cash and cash equivalents amounted to CNY 378,633,506.70, an increase from CNY 299,079,177.17 in the previous year[48]. - The total current assets reached CNY 976,566,832.94, compared to CNY 942,101,476.58 in the same period last year, indicating a growth of approximately 3.5%[48]. - The company's total liabilities amounted to CNY 699,700,867.59, slightly up from CNY 698,663,782.17, indicating a marginal increase of about 0.15%[54]. - The total amount of cash and cash equivalents was CNY 9,589,802.89, indicating liquidity position[101]. Shareholder Information - The company reported a total of 18,099 common shareholders at the end of the reporting period[13]. - The largest shareholder, Wang Guanyi, held 11.31% of the shares, with a total of 29,754,138 shares[13]. Market and Sales Strategy - The company is transitioning its sales model for soft liver tablets from public hospitals to retail channels, enhancing market competitiveness[23]. - The company is focusing on expanding its business in the medical device, therapeutic drugs, and medical services sectors to mitigate risks associated with a single main business[26]. - The company is shifting its sales strategy for its main product from public hospitals to retail channels to stabilize gross margins[29]. Investments and Acquisitions - The investment in the acquisition of 100% equity of Echosens, a French company, was completed with a total investment of RMB 18,501.03 million, achieving 100% investment progress[37]. - The establishment of Beijing Furuizhonghe Health Technology Co., Ltd. was completed with an investment of RMB 3,100 million, also achieving 100% investment progress[37]. - The investment in the Furuizhonghe Health Technology Park was RMB 16,293.53 million, with a total investment of RMB 17,031 million, reaching 104.53% of the planned investment[37]. Research and Development - Research and development expenses for Q1 2020 were CNY 19,591,112.30, up from CNY 13,001,597.76 in the same period last year, marking an increase of approximately 50.8%[67]. - The company is prioritizing research and development in liver fibrosis diagnosis and integrating various liver disease testing methods[29]. - The company has established a technical research team in France to maintain a leading position in liver disease assessment technology[29]. Risks and Challenges - The company faces risks from increased competition in the liver disease diagnosis and treatment market, necessitating adjustments in its business structure[29]. - Cash payments related to operating activities decreased by 35% due to market activity disruptions caused by the COVID-19 pandemic[22]. Financial Adjustments - The company has made significant adjustments to its management team and structure to enhance operational efficiency and market competitiveness[23]. - The company has completed the data modeling and patent application for the FSTM project, but decided to terminate the project due to significant changes in the internal and industry environment[37].

Financial Performance - Operating revenue for the reporting period was CNY 188,998,513.21, reflecting a decline of 3.70% year-over-year[8]. - Net profit attributable to shareholders was CNY 7,788,370.63, down 24.75% compared to the same period last year[8]. - The net profit after deducting non-recurring gains and losses was CNY 7,764,935.91, a decrease of 28.84% year-over-year[8]. - Basic earnings per share were CNY 0.03, representing a decline of 25.00% compared to the previous year[8]. - The weighted average return on equity was 0.58%, down 0.15% from the previous year[8]. - Total operating revenue for Q3 2019 was CNY 188,998,513.21, a decrease of 3.2% compared to CNY 196,260,606.39 in the same period last year[65]. - Total operating costs for Q3 2019 were CNY 166,519,879.02, down 6.3% from CNY 177,771,934.72 year-on-year[65]. - Net profit for Q3 2019 reached CNY 11,886,523.50, an increase of 12.8% compared to CNY 10,537,565.43 in the previous year[68]. - The total comprehensive income for Q3 2019 was CNY 7,635,735.59, a decrease from CNY 42,638,423.41 in the previous year[72]. - The company's total comprehensive income for the third quarter was ¥730,948.49, down from ¥9,875,800.96 year-over-year[76]. - The net profit for the current period is ¥2,063,092.87, down from ¥42,628,399.93 in the previous period, reflecting a significant decline[89]. - The total comprehensive income for the current period is ¥2,063,092.87, a decrease from ¥42,628,399.93 in the previous period[91]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 1,852,343,137.92, a decrease of 13.21% compared to the previous year[8]. - Total current assets increased to ¥1,064,735,269.30 from ¥876,130,939.30, representing a growth of approximately 21.5%[47]. - Total liabilities decreased to ¥302,537,683.82 from ¥621,947,047.93, a reduction of about 51%[51]. - Total assets decreased to ¥1,852,343,137.92 from ¥2,134,224,255.98, a decline of about 13.2%[47]. - The company's total liabilities decreased to CNY 160,899,463.70 from CNY 515,625,109.54, indicating a significant reduction in debt levels[64]. - Total equity increased to CNY 889,752,565.67 from CNY 887,689,472.80, reflecting a slight growth in shareholder value[64]. - The company reported a significant reduction in short-term borrowings to ¥40,000,000.00 from ¥70,000,000.00, a decrease of approximately 42.9%[51]. - The company’s total equity represents approximately 63.2% of total liabilities and equity, indicating a strong equity position relative to its liabilities[126]. Cash Flow - Cash flow from operating activities for the year-to-date was CNY 200,049,368.29, an increase of 2,099.54% compared to the previous year[8]. - The net cash flow from operating activities was 200,049,368.29 CNY, a significant increase compared to 9,095,061.61 CNY in the previous period[98]. - Cash inflow from financing activities was 40,000,000.00 CNY, a decrease from 134,815,352.59 CNY in the previous period, leading to a net cash flow from financing activities of -34,177,022.31 CNY[100]. - The cash outflow for purchasing goods and services was 74,385,937.61 CNY, down from 113,593,377.62 CNY in the prior period[101]. - The company experienced a net increase in cash and cash equivalents of 72,750,808.43 CNY, contrasting with a decrease of 421,991,748.10 CNY in the previous period[100]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,178[12]. - The top ten shareholders held a combined 56.88% of the company's shares[13]. - The company completed a share buyback of 6,718,233 shares, accounting for 2.55% of the total share capital, with a total payment of approximately 66.99 million yuan[28]. - The company has committed to a share lock-up period of 36 months from the date of its stock listing, during which it will not transfer or entrust others to manage its shares[31]. - The company reported that its cash dividend policy is strictly implemented according to relevant regulations, ensuring that all shareholders have the opportunity to express their opinions and protect their legal rights[38]. Operational Changes - The company reported a non-operating loss of CNY 10,057,385.20 for the reporting period[8]. - The company decided to terminate the "Furu Health Technology Park" project due to the government's decision to recover the land use rights and ongoing projects[28]. - The company has made commitments to avoid competition with its subsidiaries and ensure that its controlling status remains stable[34]. - The company has not engaged in any external guarantees that violate regulations during the reporting period[40]. - The company has not reported any significant changes in net profit compared to the same period last year[38]. Investment and Development - Research and development expenses for Q3 2019 were CNY 10,786,053.10, down 24.5% from CNY 14,292,440.15 in the previous year[65]. - Research and development expenses for the year-to-date period were ¥44,016,915.97, up from ¥35,149,471.72, indicating a 25.4% increase[80]. - The company reported an investment loss of ¥370,678.98 in the third quarter, compared to a gain of ¥1,443,161.57 in the same period last year[74]. - The company reported an investment loss of ¥966,388.93, a significant decline from an investment gain of ¥3,103,207.51 in the previous period[89].

Financial Performance - Total revenue for the first half of 2019 was CNY 385,720,035.51, a decrease of 0.56% compared to CNY 387,877,244.39 in the same period last year[21]. - Net profit attributable to shareholders was CNY 16,271,846.16, down 66.26% from CNY 48,221,200.83 year-on-year[21]. - Net profit after deducting non-recurring gains and losses was CNY 26,352,666.08, a decrease of 48.09% compared to CNY 50,764,191.15 in the previous year[21]. - Basic and diluted earnings per share were both CNY 0.06, a decline of 66.67% from CNY 0.18 in the previous year[21]. - Operating profit was CNY 44,728,842.29, down 48.76% year-on-year, while net profit decreased by 54.66% to CNY 30,249,197.64[48]. - The estimated cumulative net profit for the period from the beginning of the year to the next reporting period is expected to be CNY 20.50 million, a decrease of 65.00% compared to the same period last year, which was CNY 58.57 million[100]. - Basic earnings per share are projected to be CNY 0.078, down 64.54% from CNY 0.22 in the same period last year[100]. - The expected net profit for the period from July 1 to September 30 is estimated to be CNY 7.52 million, representing a 50.00% decrease compared to CNY 10.35 million in the same period last year[100]. Cash Flow and Assets - Net cash flow from operating activities increased significantly to CNY 136,078,889.64, up 275.38% from CNY 36,251,267.16 in the same period last year[21]. - Total assets at the end of the reporting period were CNY 1,863,169,454.87, a decrease of 12.70% from CNY 2,134,224,255.98 at the end of the previous year[21]. - Current assets increased from CNY 876,130,939.30 to CNY 1,081,805,376.43, representing a growth of about 23.3%[191]. - Non-current assets decreased significantly from CNY 1,258,093,316.68 to CNY 781,364,078.44, a drop of approximately 37.9%[191]. - Cash and cash equivalents increased to CNY 74,637,631.36 from CNY 15,086,122.33, a significant increase of about 394.5%[192]. - The company’s cash and cash equivalents as of June 30, 2019, were approximately ¥292.45 million, an increase from ¥202.23 million at the end of 2018[182]. Investments and R&D - R&D investment increased by 23.36% to CNY 49,590,712.20, accounting for 12.86% of total revenue, focusing on ECHOSENS liver disease diagnostic technology[58]. - The company is focusing on product R&D to strengthen its competitive edge and meet diverse market needs, particularly in the liver disease sector[35]. - The focus of research and development is on liver fibrosis diagnosis, with plans to integrate various diagnostic methods and develop a comprehensive liver disease assessment system[106]. - The company plans to expand its business scope through continuous mergers and acquisitions in medical devices, therapeutic drugs, and medical services to enhance profitability and risk resistance[101]. Market Position and Strategy - The company experienced a decline in drug sales and gross margin due to rising raw material costs and adjustments in sales models, prompting efforts to diversify sales channels and control costs[31]. - The company is actively pursuing strategic collaborations in internet healthcare and chronic disease management, aiming to enhance service delivery and patient outcomes[37]. - The company plans to leverage its academic and technical advantages to lower barriers for medical institutions and patients, further solidifying its leadership in non-invasive liver diagnostics[35]. - The company is focusing on expanding its market presence and enhancing product development strategies[200]. - Future outlook includes potential mergers and acquisitions to strengthen market position[200]. Risk Management - There are no significant adverse risk factors affecting the company's operational, financial status, or ongoing profitability[6]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[5]. - The company faces risks from increased competition in the liver disease diagnosis and treatment market, which may pressure product sales and new product development[102]. - The company is taking measures to mitigate the impact of raw material price fluctuations, including direct procurement and price locking strategies[105]. Corporate Governance and Compliance - The company has commitments in place to avoid competition with its controlling shareholders, ensuring no direct or indirect business competition[116]. - The company has a share lock-up commitment for 36 months post-IPO, restricting the transfer of shares held by major shareholders[116]. - The company has not faced any penalties or corrective actions during the reporting period, indicating compliance with regulations[125]. - The company has not reported any major asset or equity sales during the reporting period[96]. - The company has not engaged in any derivative investments or entrusted loans during the reporting period[94][95]. Project Updates - The company has decided to terminate the health technology park project due to the recovery of state-owned land rights[74]. - The company has not achieved the planned progress and expected returns for several projects due to various reasons[78]. - The Furu Medical Center project is 45.08% complete, with no realized income due to urban planning adjustments[71]. - The liver fibrosis online diagnostic system (FSTM) project has a cumulative investment of CNY 21.61 million, representing 33.25% of the planned investment[80]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 18,748[159]. - The largest shareholder, Wang Guanyi, holds 11.31% of the shares, totaling 29,754,138 shares[159]. - China National Investment Corporation holds 9.18% of the shares, totaling 24,160,000 shares[159].

Financial Performance - The company reported a total revenue of 256,334,867 RMB for the year 2018, with no cash dividends or stock bonuses distributed to shareholders [5]. - The company's operating revenue for 2018 was ¥867,029,327, representing a year-on-year increase of 5.31% compared to ¥849,675,042 in 2017 [14]. - The net profit attributable to shareholders decreased by 42.05% to ¥35,416,101 from ¥71,866,910 in 2017 [14]. - The net profit after deducting non-recurring gains and losses was ¥39,538,967, down 36.83% from ¥73,346,797 in the previous year [14]. - Cash flow from operating activities was ¥78,347,686, a decline of 40.52% compared to ¥126,160,834 in 2017 [14]. - Basic and diluted earnings per share fell by 43.48% to ¥0.13 from ¥0.27 in 2017 [14]. - Total assets at the end of 2018 were ¥2,134,224,255, a decrease of 14.99% from ¥2,502,614,050 in 2017 [15]. - The company's weighted average return on equity was 2.36%, down from 4.82% in 2017 [14]. - Operating profit was 123.30 million yuan, a decrease of 11.40% year-on-year; total profit was 116.15 million yuan, down 13.07% from the previous year [39]. Market Strategy and Product Development - The company plans to expand its market presence and enhance its product offerings, focusing on innovative diagnostic technologies like FibroScan and FibroMeter [9]. - The company’s future outlook includes a commitment to research and development in non-invasive diagnostic systems for liver fibrosis [9]. - The company aims to establish a long-term product business model and integrate liver disease diagnosis and treatment methods to promote revenue growth [29]. - The company aims to enhance its core competitiveness in diagnostic technology and product development to meet diverse market needs [95]. - The company is actively pursuing new strategies for market expansion and technological innovation to enhance its competitive edge [179]. - The company is focusing on local production in China, including the launch of domestically produced FibroScan PRO products [29]. Research and Development - Research and development (R&D) expenses for 2018 amounted to 104,705,096.95 yuan, representing 12.08% of the company's operating revenue, with a year-on-year increase of 7.33% [62]. - The number of R&D personnel decreased to 97 in 2018, making up 15.49% of the total workforce, down from 20.45% in 2017 [62]. - The company is focusing its R&D efforts on liver fibrosis diagnostics, integrating various testing methods and medical information technology tools [101]. - The company has achieved satisfactory results in its research and development efforts, including data modeling and patent applications [85]. Shareholder and Governance - The board of directors has approved a profit distribution plan based on the total shares outstanding, indicating a focus on capital preservation [5]. - The company has implemented a cash dividend policy, distributing RMB 1 per 10 shares to shareholders based on its total share capital of 263,053,100 shares as of December 31, 2017 [105]. - The company’s independent directors fulfilled their responsibilities and ensured the protection of minority shareholders' rights [106]. - The company has committed to avoiding any activities that would constitute competition with its existing and future business [112]. - The company has established a commitment to avoid any potential conflicts of interest with its controlling shareholder, ensuring the protection of shareholder interests [115]. Operational Efficiency - The company has established a real-time data transmission system for its online diagnostic services, enhancing operational efficiency [9]. - The integration of machine learning and natural language processing has improved service efficiency, reducing the time doctors spend per patient by 40% without compromising service quality [30]. - The "Love Liver Lifetime Health Management Center" provided chronic disease management services to 40,000 patients, improving service efficiency by reducing doctor-patient interaction time by 40% [42]. Legal and Compliance - The company has not issued any non-standard audit reports during the reporting period, reflecting compliance with accounting standards [118]. - The company is currently involved in a patent infringement lawsuit in Germany, with potential penalties of up to €250,000 for violations [124]. - The company reported a total economic loss compensation of RMB 30 million due to patent infringement [127]. Employee and Management Structure - The total number of employees in the company is 626, with 182 in the parent company and 444 in major subsidiaries [194]. - The professional composition includes 80 production personnel, 189 sales personnel, and 97 technical personnel [195]. - The company has a performance bonus system where bonuses typically range from 15% to 20% of monthly salary based on performance evaluations [196]. - The management team includes experienced professionals with backgrounds in finance, medicine, and technology, enhancing the company's strategic capabilities [182]. Financial Investments and Acquisitions - The company has a remaining balance of 2,192.89 million yuan in its fundraising account as of December 31, 2018 [82]. - The acquisition of the French company Echosens was completed for 18,501 million yuan, representing a 100% stake [83]. - The company has increased its stake in Echosens S.A.S. from 46.20% to 50.27%, with an additional investment cost of 11,122.00 euros [92]. Social Responsibility and Community Engagement - The company received the "2018 Best Public Welfare Practice Award" for its contributions to hepatitis prevention and control in China [146]. - The company upgraded its "Love Liver for Life" project to provide chronic liver disease family doctor services, enhancing health management and consultation services [145].