Financial Performance - The company's revenue for Q3 2022 reached ¥1,358,214,508.32, representing a 74.24% increase compared to the same period last year[3]. - Net profit attributable to shareholders for the same period was ¥110,384,111.71, up 144.35% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was ¥196,638,114.94, reflecting a 35.75% increase compared to the previous year[3]. - The basic earnings per share for Q3 2022 was ¥0.0701, an increase of 141.89% year-on-year[4]. - The company's operating revenue reached ¥370,625.82 million, a 74.06% increase compared to ¥212,924.11 million in the previous period, driven by increased sales of the bivalent HPV vaccine[10]. - Net profit for Q3 2022 was CNY 688,704,070.22, up from CNY 484,453,636.07 in Q3 2021, reflecting a growth of approximately 42%[39]. - The net profit attributable to shareholders for the same period was CNY 531 million, an increase of 45.84% compared to the previous year[17]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥14,843,447,625.51, an increase of 8.55% from the end of the previous year[4]. - The company's total assets increased to CNY 14,843,447,625.51, compared to CNY 13,674,114,325.61 at the end of Q3 2021, marking a growth of about 8.6%[38]. - Non-current liabilities rose to CNY 764,468,733.58, up from CNY 439,916,992.23 in the previous year, indicating an increase of approximately 74%[38]. - The total liabilities of the company reached CNY 4,084,638,774.36, compared to CNY 3,675,315,707.16 in the previous year, indicating an increase of approximately 11.1%[38]. Cash Flow - The company reported a net cash flow from operating activities of ¥871,261,979.47, which is a significant increase of 228.66% compared to the previous year[3]. - The net cash flow from operating activities was ¥87,126.20 million, a significant increase of 228.66% from ¥26,509.74 million, due to higher vaccine sales and government subsidies[11]. - Cash flow from operating activities generated a net amount of CNY 871,261,979.47, significantly higher than CNY 265,097,392.38 in the previous year, marking a growth of 228.5%[42]. - The company reported a cash and cash equivalents balance of CNY 3,550,085,972.68 at the end of the period, up from CNY 2,493,889,843.91, reflecting a growth of 42.4%[43]. Research and Development - Research and development expenses surged by 101.94% to ¥67,733.76 million from ¥33,541.36 million, attributed to increased investment in project development and clinical trials[10]. - The company is advancing clinical research and registration for its pipeline products, including the nine-valent HPV vaccine, which entered phase III clinical trials in September 2022[19]. - The company has a total of 9 vaccine candidates in various stages of clinical research, including vaccines for HPV and influenza[22]. - The company has received various clinical trial approvals for its vaccine candidates, indicating a robust pipeline for future product offerings[21]. Market and Product Development - The company is focused on expanding its market presence and improving product brand influence through strategic marketing and sales initiatives[17]. - The new COVID-19 mRNA vaccine received Emergency Use Authorization (EUA) from Indonesia's National Agency of Drug and Food Control, marking a significant milestone for the company's mRNA vaccine product line[20]. - The company is actively pursuing overseas market expansion for its mRNA vaccine, although the timeline for sales remains uncertain due to evolving pandemic conditions and market competition[20]. - The company is focused on developing new products and technologies, particularly in the field of vaccines, to address emerging health challenges[22]. Stock Options and Shareholder Information - The stock option incentive plan initiated in 2018 involved granting 60.9 million stock options to 209 eligible participants, aimed at enhancing the company's governance structure and core competitiveness[23]. - The company approved the cancellation of 1.15 million stock options granted to 2 departing employees from the 2018 stock option incentive plan, reducing the number of initial grant recipients to 197 and the total initial stock options to 57.5 million[25]. - The total number of ordinary shareholders at the end of the reporting period was 130,930, with the top ten shareholders holding significant stakes[12]. - The company completed the repurchase of 5,999,943 shares, accounting for 0.37% of the total shares, with a total transaction amount of approximately RMB 258.26 million[33].

Financial Performance - The company reported a significant increase in revenue for the first half of 2022, with total revenue reaching CNY 1.2 billion, representing a year-on-year growth of 25%[7]. - The company's operating revenue for the first half of 2022 was CNY 2,348,043,658.72, representing a 73.96% increase compared to CNY 1,349,755,356.04 in the same period last year[12]. - The net profit attributable to shareholders was CNY 421,009,218.81, a 31.90% increase from CNY 319,196,558.92 year-on-year[12]. - The net profit after deducting non-recurring gains and losses reached CNY 480,763,111.40, showing a significant increase of 100.47% compared to CNY 239,823,690.27 in the previous year[12]. - The company's cash flow from operating activities improved dramatically to CNY 402,263,407.21, compared to a negative cash flow of CNY -10,931,112.51 in the same period last year, marking a 3779.99% increase[12]. - Basic earnings per share increased by 28.37% to CNY 0.2629 from CNY 0.2048 in the previous year[12]. - The total comprehensive income for the first half of 2022 was CNY 501,994,643.61, compared to CNY 407,545,983.94 in the first half of 2021, reflecting an increase of about 23%[150]. - The total profit for the first half of 2022 was CNY 21,308,120.80, down from CNY 44,639,393.76 in the same period of 2021, reflecting a decline of approximately 52.3%[152]. Research and Development - The company has allocated CNY 200 million for R&D in new vaccine technologies, focusing on mRNA and viral vector platforms[7]. - Research and development expenses increased by 84.11% to ¥477,788,315.15 from ¥259,507,612.60, as the company accelerated R&D and clinical trials for new products and projects[38]. - The company is actively engaged in the development of new vaccine technologies and has aligned with national policies to enhance its R&D capabilities[18]. - The company is advancing clinical research for multiple vaccines, including the new coronavirus mRNA vaccine and adenovirus vector vaccine, with the mRNA vaccine in the final phase of clinical trials[27]. - The company has established a mature bacterial vaccine technology platform and a recombinant protein vaccine technology platform, alongside collaborations for mRNA and adenovirus vaccine technologies[28]. - The company is developing multiple vaccines in clinical research stages, including the 9-valent HPV vaccine and various mRNA vaccines[34]. Market Expansion and Product Development - Future outlook includes a projected revenue growth of 20% for the full year 2022, driven by increased demand for vaccines and expansion into new markets[7]. - Market expansion efforts include entering Southeast Asian markets, with initial sales expected to contribute CNY 100 million in revenue by the end of 2023[7]. - The company plans to expand its product line with the introduction of a new 9-valent HPV vaccine, expected to launch in Q4 2022[7]. - The company is focusing on the import substitution and comprehensive internationalization strategy to enhance its core business development[24]. - The company is actively pursuing international business, having exported products to 18 countries as of June 30, 2022[27]. Financial Management and Investments - The company has no plans to distribute cash dividends or issue bonus shares for the current fiscal year, focusing instead on reinvestment for growth[2]. - The company has received a drug registration certificate for the bivalent HPV vaccine in March 2022, marking a significant milestone in the development of its recombinant protein technology platform[26]. - The company reported a total investment of ¥660,000,000.00 during the reporting period, a decrease of 6.52% compared to ¥706,000,000.00 in the same period last year[47]. - The company has a significant equity investment of ¥100,000,000.00 in Shanghai Zerun Biotechnology Co., holding a 56.61% stake, with ongoing business registration changes[48]. - The company has established a leading vaccine R&D and industrialization technology platform, collaborating with various research institutions and international organizations[23]. Risk Management - Risk management strategies have been outlined, addressing potential regulatory changes and supply chain disruptions[2]. - The company is actively pursuing strategic partnerships for potential mergers and acquisitions to enhance its market position and product offerings[7]. - The company emphasizes the importance of balancing innovation and risk in drug development to mitigate R&D risks[74]. - The company has established a risk management department to identify, prevent, and control risks in the production and quality management processes[77]. Environmental and Social Responsibility - The company has committed to environmental protection and sustainable development, adhering to various environmental laws and regulations without any incidents of pollution or administrative penalties during the reporting period[102]. - The company donated a total of 11.5 million CNY to the China Women's Development Foundation for health education projects aimed at reducing HPV infections and cervical cancer rates among women[103]. - The company plans to donate up to 700,000 doses of the 23-valent pneumonia vaccine nationwide, with approximately 550,000 doses already donated to date[103]. - The company has established a comprehensive environmental management system to minimize the impact of its operations on the environment[102]. Shareholder and Corporate Governance - The company has implemented a stock option incentive plan, granting 60.9 million stock options to 209 eligible participants[84]. - The company plans to repurchase between 3,000,000 to 6,000,000 shares at a price not exceeding 70 RMB per share, with a total estimated repurchase amount not exceeding 420 million RMB[121]. - The company has maintained transparent communication with shareholders and stakeholders, ensuring equal access to information through various channels[102]. - The company has established a profit distribution policy that emphasizes reasonable returns to investors, with a minimum cash dividend of 10% of the annual distributable profit[107]. Compliance and Legal Matters - The semi-annual financial report was not audited[109]. - There were no bankruptcy reorganization matters during the reporting period[110]. - The company has not engaged in any related party transactions during the reporting period[113]. - The company did not have any violations regarding external guarantees during the reporting period[108].

Financial Performance - The company's revenue for Q1 2022 was CNY 433,574,528.49, representing a 51.27% increase compared to the same period last year[4] - Net profit attributable to shareholders for Q1 2022 was CNY 32,158,809.46, up by 20.09% year-on-year[4] - The company reported a basic earnings per share of CNY 0.0207, reflecting a 16.43% increase compared to the same period last year[4] - In Q1 2022, the company achieved revenue of CNY 655.89 million, representing a 51.27% increase year-over-year[17] - Revenue from sales of goods and services reached CNY 622.17 million, up from CNY 442.41 million, reflecting a 40.7% increase[40] - The company reported a decrease in short-term borrowings to CNY 290,000,000.00 from CNY 310,000,000.00, a decline of about 6.45%[36] - The company reported a net investment loss of CNY 151.36 thousand, an improvement from a loss of CNY 559.53 thousand in the previous year[38] - The company reported tax payments of 44,815,130.81, down from 121,262,750.59 year-over-year[41] Cash Flow - The net cash flow from operating activities improved significantly, reaching CNY 1,004,540.00, a 107.15% increase from a net outflow of CNY 14,058,120.00 in the previous year[10] - Cash inflow from operating activities totaled CNY 798.26 million, significantly higher than CNY 465.12 million in Q1 2021, an increase of 71.5%[40] - The net cash flow from operating activities was 10,045,400.08, compared to a negative cash flow of -140,581,237.03 in the same period last year[41] - Total cash outflow from operating activities amounted to 788,210,062.44, an increase from 605,697,123.31 year-over-year[41] - Cash flow from investing activities showed a net outflow of -163,613,955.67, compared to -121,357,577.70 in the previous year[41] - Cash inflow from financing activities was 559,236,954.90, down from 625,055,791.58 in the same quarter last year[41] - The net cash flow from financing activities was 484,630,487.20, a decrease from 616,467,101.41 year-over-year[41] - The ending balance of cash and cash equivalents was 3,755,997,296.99, compared to 2,315,190,042.65 at the end of the same quarter last year[41] Research and Development - Research and development expenses surged by 169.71% to CNY 13,910,830.00, driven by increased investment in new products and clinical trials[9] - The company is actively involved in the research and development of new vaccines and biopharmaceuticals[15] - The company is currently in the clinical research phase for multiple vaccines, including a recombinant COVID-19 vaccine using CHO cells and a 4-valent influenza virus split vaccine[22] - The new COVID-19 mRNA vaccine is currently in Phase III clinical trials, while the recombinant COVID-19 vaccine (chimpanzee adenovirus vector) is in Phase II trials[19] - The company has successfully developed and launched the 13-valent pneumococcal polysaccharide conjugate vaccine, becoming the first in China and the second globally to do so[15] Marketing and Sales - The company’s sales expenses increased by 63.57% to CNY 25,698,130.00, attributed to heightened marketing efforts for new products[9] - The company is focusing on enhancing its marketing management and adjusting sales strategies to improve domestic market coverage and penetration[17] - The company plans to continue expanding its vaccine product lines and investing in R&D to enhance market competitiveness[9] Assets and Liabilities - The total assets at the end of the reporting period were CNY 13,674,114,325.61, marking a 2.44% increase from the end of the previous year[4] - The company’s total liabilities decreased by 41.10% for current non-current liabilities, reflecting effective management of lease liabilities[7] - Total liabilities decreased slightly to CNY 3,653,264,340.41 from CNY 3,675,315,707.16, a reduction of about 0.6%[36] - Owner's equity increased to CNY 10,355,178,004.04 from CNY 9,998,798,618.45, showing a growth of approximately 3.58%[36] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 133,277, with the top ten shareholders holding a combined 16.56% of the shares[12] - Shareholder Liu Junhui holds a total of 75,427,555 shares, representing 4.71% of the company[13] Stock Options and Incentives - The 2018 stock option incentive plan granted 60.9 million stock options to 209 eligible participants, aimed at enhancing the company's governance structure and core competitiveness[25] - The stock option incentive plan's exercise price was adjusted from RMB 25.00 to RMB 24.97 per share following the completion of the 2018 annual equity distribution[26] - The company approved the cancellation of 1.15 million stock options granted to two departing employees under the 2018 stock option incentive plan, reducing the number of initial grantees to 197 and the total initial stock options to 57.5 million[27] - The company implemented the 2020 stock option incentive plan on November 3, 2020, granting 72.6 million stock options at an exercise price of 75 CNY/share[30] - The exercise price for the 2020 stock option incentive plan was adjusted from 75.00 CNY/share to 74.95 CNY/share on May 26, 2021[31] - The company canceled 29 million stock options from the first exercise period of the 2020 stock option incentive plan due to unmet performance targets, leaving 43.5 million unexercised options[32]

Financial Performance - In 2021, the company achieved a net profit attributable to shareholders of CNY 427,747,681.59, a decrease of 57.36% year-on-year [4]. - The company's R&D expenses increased by 252.13% compared to the previous year, significantly impacting net profit [4]. - Main business revenue for 2021 was CNY 3,462.83 million, representing a growth of 17.82% year-on-year [4]. - The decline in net profit was primarily due to increased R&D expenses and fair value losses on investments [4]. - The net profit attributable to shareholders for 2021 was ¥427,747,681.59, a decrease of 57.36% from ¥1,003,186,827.75 in 2020 [14]. - The net profit after deducting non-recurring gains and losses was ¥591,146,772.49, down 17.33% from ¥715,043,344.98 in the previous year [14]. - The net cash flow from operating activities increased significantly to ¥705,276,750.42, a 517.62% rise from ¥114,192,983.21 in 2020 [14]. - The total assets at the end of 2021 were ¥13,674,114,325.61, up 41.87% from ¥9,638,289,331.56 at the end of 2020 [14]. - The net assets attributable to shareholders increased by 29.63% to ¥8,484,232,085.82 from ¥6,544,755,378.08 in 2020 [14]. - The basic earnings per share for 2021 were ¥0.2727, a decrease of 58.16% compared to ¥0.6518 in 2020 [14]. - The diluted earnings per share were ¥0.2719, down 57.74% from ¥0.6434 in the previous year [14]. - The company reported a significant increase in cash flow from operating activities in Q4 2021, reaching ¥440,179,358.04 [17]. R&D and Product Development - The company continues to maintain stable growth in its core business, with ongoing product development expected to drive future growth [4]. - The company has established a leading vaccine R&D and industrialization technology platform, supported by national programs and international collaborations [31]. - The company is advancing the clinical research and registration of new products, including the bivalent HPV vaccine, which is currently under review for production approval [36]. - The new mRNA COVID-19 vaccine is in Phase III clinical research, while the recombinant COVID-19 vaccine (chimpanzee adenovirus vector) is in Phase II clinical research [36]. - The company is actively pursuing the development of various vaccines, including a quadrivalent influenza vaccine and a recombinant enterovirus 71 vaccine, which are currently in clinical research stages [37]. - The company has built an mRNA vaccine technology platform, which is currently under continuous development, focusing on various vaccines including COVID-19 variants [45]. - The company is focused on the research and development of new products, including the bivalent HPV vaccine and multi-valent vaccines, to ensure seamless clinical research and production application [101]. Market and Industry Trends - In 2021, China's pharmaceutical manufacturing industry achieved revenue of CNY 2,928.85 billion, a growth of 20.1% year-on-year, with a profit total of CNY 627.14 billion, increasing by 77.9% [25]. - The domestic vaccine industry saw rapid growth, with China producing over 4.5 billion doses of COVID-19 vaccines in 2021, making it the highest producer globally [25]. - The global vaccine market surged from approximately USD 40 billion to around USD 150 billion due to COVID-19 vaccine sales, indicating a significant market expansion [26]. - The pharmaceutical industry in China is expected to continue growing, driven by factors such as rising disposable income and an improved healthcare system [25]. - The COVID-19 pandemic has catalyzed rapid development in new products and technologies related to vaccines and treatments, leading to significant industry transformation [26]. Sales and Revenue - The company achieved total operating revenue of CNY 346,283.11 million, representing a year-on-year growth of 17.82% [32]. - Sales revenue from self-produced vaccine products reached CNY 342,841.07 million, an increase of 18.47% year-on-year [33]. - The 13-valent pneumococcal conjugate vaccine generated sales revenue of CNY 274,627.01 million, reflecting a significant growth of 65.59% compared to 2020 [33]. - The total revenue for the company decreased by 29.91% to CNY 31,314,217 from CNY 44,675,761 in the previous year [35]. - The sales of the 23-valent pneumonia vaccine dropped significantly by 84.26%, from CNY 5,745,195 to CNY 904,383 [35]. Investment and Financial Management - The company invested ¥1,659,561,800.00 during the reporting period, a 76.98% increase compared to the previous year [77]. - The company completed significant equity investments, including ¥207,000,000.00 in Kunming Watson Biotechnology Co., Ltd., achieving 100% ownership [78]. - The company reported a fair value change loss of CNY 280.74 million for other non-current financial assets investments during the reporting period [81]. - The company has a total of CNY 1.4 billion in other equity instrument investments, with a fair value of CNY 561 million at the end of the reporting period [81]. - The company has a remaining unused fundraising amount of CNY 26.16 million, with no violations in the management of raised funds [82]. Corporate Governance and Shareholder Relations - The company has established a comprehensive governance structure to protect the rights of shareholders, particularly minority shareholders [109]. - The company has committed to transparency in information disclosure, adhering to relevant laws and regulations [112]. - The company plans to issue H shares and list on the Hong Kong Stock Exchange, with 18 related proposals approved during the shareholder meetings [114]. - The company has maintained independence from major shareholders in terms of business, personnel, assets, and finance [113]. - The company actively engages with investors through various channels, ensuring equal access to information [113]. Environmental and Social Responsibility - The company emphasizes environmental protection and sustainable development, integrating these principles into all management processes [183]. - The company has implemented a comprehensive environmental management system to minimize operational impacts on the environment [183]. - In December 2021, the company signed donation agreements totaling 11.5 million yuan to support women's health initiatives and grassroots medical personnel [183]. - The company has committed to social responsibility initiatives, including donations to public welfare projects [137]. - The company aims to improve operational efficiency, targeting a 10% reduction in production costs by implementing advanced manufacturing technologies [129]. Employee Management and Development - The company has implemented an employee stock ownership plan and stock option incentive plan to enhance employee engagement and retention [144]. - The total remuneration for senior management during the reporting period amounted to CNY 3,755.74 million [135]. - The company emphasizes the importance of talent development through various training programs, including the "Vaccination Science Literacy" course and EMBA/MBA programs [145]. - The company has a structured approach to determining the compensation levels for its executives [134]. - The total number of employees increased to 12,000, indicating a growth in operational capacity [120].

Financial Performance - Revenue for Q3 2021 was CNY 779,485,727.26, a decrease of 21.53% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 45,174,533.36, down 87.92% year-on-year[3] - The net profit excluding non-recurring items was CNY 144,849,997.28, a decrease of 61.34% compared to the same period last year[3] - Operating income decreased by 41.10% to ¥215.00 million, primarily due to a reduction in government subsidies received compared to the previous year[10] - Net profit for Q3 2021 was CNY 484,453,636.07, down from CNY 541,498,077.62 in Q3 2020, reflecting a decrease of about 10.5%[32] - The total comprehensive income for Q3 2021 was CNY 484,453,636.07, down from CNY 724,234,452.62 in Q3 2020, reflecting a decrease of approximately 33.1%[32] Assets and Liabilities - Total assets increased to CNY 12,496,732,456.59, representing a growth of 29.66% from the end of the previous year[4] - The company's equity attributable to shareholders rose to CNY 8,107,197,686.30, an increase of 23.87% year-on-year[4] - Total liabilities increased to CNY 2,937,704,005.72 from CNY 1,790,410,950.89, representing a rise of 64.0%[29] - The company reported a total asset value of CNY 9,647,921,572.41 as of the end of Q3 2021, reflecting an increase from CNY 9,638,289,331.56 at the end of 2020[38] - The total liabilities increased to CNY 1,800,043,191.74 from CNY 1,790,410,950.89, indicating a rise in financial obligations[38] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 265,097,392.38, up 135.14% compared to the previous year[3] - The company's net cash flow from operating activities increased by 135.14% to ¥26,509.74 million, driven by higher vaccine sales and government subsidies compared to the previous year[11] - The net cash flow from operating activities for Q3 2021 was CNY 265,097,392.38, an increase of 135.2% compared to CNY 112,738,425.79 in Q3 2020[35] - The total cash inflow from financing activities reached CNY 1,311,793,374.38, significantly up from CNY 65,068,876.00 in the same period last year[35] - The net cash flow from investment activities was negative at CNY -711,020,266.98, worsening from CNY -509,589,178.81 in Q3 2020[35] Research and Development - Research and development expenses surged by 118.19% to CNY 33,541.36, reflecting increased investment in vaccine product projects[9] - Research and development expenses increased to CNY 335,413,585.17, compared to CNY 153,724,480.11 in the previous year, marking a rise of approximately 118.5%[31] - The company is conducting clinical research on several new vaccines, including an mRNA vaccine for COVID-19 and a recombinant new coronavirus vaccine[19] Inventory and Sales - Inventory increased by 69.08% to CNY 81,758.30 due to increased raw material reserves and vaccine product stock[8] - The total batch release of vaccine products for the first three quarters was 26,282,891 doses, a decrease of 26.54% year-on-year, primarily due to a significant drop in the batch release of the DTP vaccine[17] - The AC combined vaccine batch release increased by 218.87%, from 401,865 doses to 1,281,431 doses[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 133,731, with the largest shareholder holding 4.74% of the shares[12] - The largest shareholder, Liu Junhui, holds 75,427,555 shares, representing 4.74% of the total shares[12] Stock Options - The stock option incentive plan initiated in 2018 involved the initial grant of 60.9 million stock options to 209 eligible participants[21] - The exercise price of the stock options was adjusted from CNY 25.00 to CNY 24.97 following the annual equity distribution in 2019[21] - The company approved the cancellation of 1.15 million stock options granted to two departing employees from the 2018 stock option incentive plan, reducing the number of initial grant recipients to 197 and the total number of options to 57.5 million[22] Other Financial Metrics - Operating costs for the same period were CNY 1,554,859,903.66, up from CNY 1,095,393,136.18, reflecting a significant increase in operational expenses[30] - The company reported investment income of CNY 58,084,611.89, significantly higher than CNY 5,737,431.91 in the previous year, reflecting an increase of approximately 908.8%[31] - The company reported a significant loss of CNY 99,675,463.92 from non-recurring items, primarily due to fair value losses on financial assets[5] Audit and Compliance - The third quarter report was not audited, indicating preliminary financial data[40] - The company adopted the new leasing standards effective January 1, 2021, impacting the recognition of right-of-use assets and lease liabilities[39]