Financial Performance - The company's total revenue for 2021 was not explicitly mentioned, but the report indicates a focus on growth and expansion strategies [18]. - The company's operating revenue for 2021 was ¥2,968,050,842.32, an increase of 25.56% compared to 2019 [25]. - The net profit attributable to shareholders for 2021 was ¥233,573,840.79, a decrease of 7.62% compared to 2020 [25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2021 was ¥224,748,743.04, down 10.72% from 2020 [25]. - The total revenue for heparin raw materials reached ¥687,397,846.80 in 2021, a significant increase from ¥345,576,139.48 in 2020, reflecting a growth rate of 100% [74]. - The total revenue for water injection preparations was ¥492,852,941.70 in 2021, compared to ¥346,163,899.10 in 2020, indicating a growth rate of 42.36% [74]. - The company reported a significant increase in online sales revenue from its hyaluronic acid and cosmetics business, driven by the successful mass production of the active pharmaceutical ingredient, Ectoin [63]. - The company achieved a net profit of 12,860,074.98 CNY from its Jiangsu subsidiary, primarily from the export of low molecular weight heparin raw materials [133]. - The Hong Kong subsidiary reported a net profit of 18,404,155.91 CNY, mainly from the export of raw materials [133]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year, representing a 20% growth year-over-year [200]. Shareholder Returns - The company reported a cash dividend of 0.26 CNY per 10 shares for all shareholders, based on a total of 919,060,878 shares [7]. - The company’s board of directors has approved the profit distribution plan, reflecting a commitment to shareholder returns [7]. Research and Development - The company is focused on research and development in biopharmaceuticals, which is crucial for future growth [18]. - The company has developed proprietary technologies for heparin and maintains a strong R&D system, contributing to its competitive edge in the market [42]. - The company is developing a new Class I drug, a long-acting GLP-1 formulation for the treatment of type 2 diabetes, which has entered the clinical phase III [46]. - R&D expenses rose to ¥150,626,662.12 in 2021, an increase of 18.10% from ¥127,543,413.03 in 2020, driven by higher R&D investments [83]. - The total R&D investment amounted to ¥219,515,411.99 in 2021, representing 7.40% of operating revenue, slightly up from 7.18% in 2020 [86]. - The company is focusing on the development of new products, including hyaluronic acid and sildenafil citrate, to drive revenue growth [140]. - The company is advancing the clinical trials for innovative drugs, including Aibennate, and aims to strengthen its R&D capabilities to support future growth [160]. Market Position and Strategy - The company has a leading market share in low molecular weight heparin calcium injection, covering over 3,000 hospitals nationwide [42]. - The company aims to leverage its position in the Hebei Free Trade Zone to enhance the production and export of upstream products like heparin crude and raw materials [43]. - The company plans to increase production and sales of low molecular weight heparin preparations to maintain its market leadership in China [140]. - The company intends to expand its international market presence by enhancing the production of high-value heparin raw materials and preparations [140]. - The company is focusing on both internal development and external expansion through mergers, technology collaborations, and joint ventures to enhance innovation capabilities and sustainable growth [164]. Governance and Compliance - The company emphasizes the importance of accurate financial reporting and has declared that all financial statements are true, accurate, and complete [6]. - The company has established comprehensive governance regulations, including rules for shareholder meetings and board operations, to enhance decision-making transparency [168]. - The governance structure includes a board of directors, supervisory board, and management team, ensuring checks and balances among these entities [167]. - The company prioritizes accurate and timely information disclosure, designating the chairman as the primary responsible person for information disclosure [174]. - The company has a robust governance structure, with a dedicated supervisory board overseeing compliance and operational integrity [193]. Operational Efficiency - The company has a registered address in the Hebei Free Trade Zone, indicating a strategic location for operations [19]. - The company has multiple wholly-owned subsidiaries, enhancing its operational capabilities and market reach [15]. - The company has a total of 4 subsidiaries, with varying levels of profitability and operational focus, including biotechnology and medical device sectors [120]. - The company has a clear asset ownership structure, including land, buildings, machinery, trademarks, and patents, ensuring operational independence [176]. - The company has a complete labor and social security system, with all employees under formal contracts and social insurance [176]. Risks and Challenges - The company recognizes potential risks from government policy changes that could impact operational costs and market competition [143]. - The company is at risk of declining market share for heparin products if it fails to pass consistency evaluations or cannot win bids in national centralized procurement [144]. - Rising procurement costs for heparin crude products significantly affect the company's operating costs, prompting a focus on maintaining reasonable inventory and increasing self-supply [147]. - The company anticipates increased period expenses due to intensified market competition and diverse new product development, which may pressure cost control capabilities [148]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% [200]. - New product launches are expected to contribute an additional 300 million RMB in revenue next year [200]. - Market expansion plans include entering three new provinces, targeting a 10% market share in these regions within two years [200]. - The company plans to push forward the international registration of heparin injections, focusing on the U.S. and EU markets, with recent registrations in Bolivia and Uzbekistan [156].

Financial Performance - The company's revenue for Q3 2021 reached ¥741,039,767.24, an increase of 18.04% compared to the same period last year[3] - Net profit attributable to shareholders was ¥50,125,991.97, a decrease of 32.23% year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥48,816,334.10, down 31.68% from the previous year[3] - Total operating revenue for the period reached ¥2,158,441,271.38, an increase from ¥1,637,611,319.05 in the previous period, representing a growth of approximately 31.8%[26] - Net profit for the period was ¥205,052,547.28, slightly up from ¥203,457,633.07, reflecting a growth of approximately 0.8%[29] - The net profit attributable to the parent company was approximately ¥207.09 million, compared to ¥204.62 million in the previous period, reflecting a slight increase[32] - The total comprehensive income attributable to the parent company was approximately ¥198.04 million, down from ¥212.17 million in the previous period[32] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,120,131,094.26, reflecting an increase of 11.98% from the end of the previous year[3] - The total assets of the company reached ¥5,120,131,094.26, compared to ¥4,572,556,783.14 in the previous period, an increase of approximately 12%[25] - Total liabilities increased to ¥2,070,893,213.91 from ¥1,719,328,775.53, representing a growth of about 20.4%[25] - The company's equity attributable to shareholders rose to ¥3,045,623,851.87 from ¥2,847,580,472.06, indicating an increase of approximately 6.9%[25] Cash Flow - The company's cash flow from operating activities showed a net inflow of ¥-142,157,545.23, a significant improvement of 64.70% year-on-year[3] - Cash inflows from operating activities totaled approximately ¥2.41 billion, up from ¥1.69 billion in the previous period, indicating strong revenue growth[36] - Cash outflows from operating activities increased to approximately ¥2.55 billion from ¥2.09 billion, resulting in a net cash flow from operating activities of approximately -¥142.16 million, an improvement from -¥402.68 million in the previous period[36] - Cash and cash equivalents increased by 126.13% year-on-year, attributed to improved cash flow from operating activities[10] - The cash and cash equivalents at the end of the period amounted to approximately ¥517.52 million, down from ¥578.98 million at the end of the previous period[39] Shareholder Information - Total number of common shareholders at the end of the reporting period was 35,745[12] - The largest shareholder, Guotou High-tech Investment Co., Ltd., holds 35.69% of shares, totaling 333,644,728 shares[12] - The company plans to unlock 25% of the shares held by executives annually during their tenure[16] - The company repurchased 15,906,000 shares in 2020, representing 1.70% of total shares[15] - The total number of restricted shares at the beginning of the period was 250,233,546, remaining unchanged[16] Operational Metrics - The company experienced an 80.78% increase in operating costs, primarily due to higher sales volumes and rising raw material prices[7] - Total operating costs amounted to ¥1,933,766,897.05, up from ¥1,405,472,840.96, indicating a rise of about 37.4%[26] - Gross profit for the period was ¥224,674,374.33, compared to ¥232,138,478.09 in the previous period, showing a slight decrease of around 3.2%[29] - Research and development expenses increased to ¥106,404,718.54 from ¥84,614,578.27, marking a rise of about 25.7%[29] Future Outlook - Future outlook includes continued investment in R&D and potential market expansion strategies to enhance revenue growth[28] - The company has not disclosed any significant new strategies or product developments in the current report[18]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,417,401,504.14, representing a 40.36% increase compared to CNY 1,009,847,609.95 in the same period last year[25]. - Net profit attributable to shareholders of the listed company reached CNY 156,960,062.38, up 20.13% from CNY 130,654,169.65 in the previous year[25]. - The net cash flow from operating activities was CNY 118,591,701.88, a significant improvement of 128.46% compared to a negative cash flow of CNY 416,676,745.13 in the same period last year[25]. - Basic earnings per share increased to CNY 0.17, reflecting a growth of 21.43% from CNY 0.14 in the previous year[25]. - Total assets at the end of the reporting period were CNY 4,583,617,900.37, a slight increase of 0.24% from CNY 4,572,556,783.14 at the end of the previous year[25]. - Net assets attributable to shareholders of the listed company rose to CNY 2,999,468,868.63, marking a 5.33% increase from CNY 2,847,580,472.06 at the end of the previous year[25]. - The weighted average return on net assets was 5.37%, an increase of 0.69% compared to 4.68% in the previous year[25]. - The company reported a net profit after deducting non-recurring gains and losses of CNY 152,666,257.93, which is a 17.04% increase from CNY 130,437,911.69 in the previous year[25]. Market Position and Product Development - The company maintains a leading market share in low molecular weight heparin calcium injection, with widespread recognition in the market[43]. - The company is one of the few in China with a complete heparin product industrial chain, engaging in the R&D, production, and sales of heparin raw materials and preparations[43]. - The company’s core product, low molecular weight heparin calcium injection, accounts for over 10% of its main business revenue[37]. - The company is currently developing a Class I new drug, a GLP-1 long-acting preparation for the treatment of type II diabetes, which has entered the clinical phase III[37]. - The company has been recognized as a national high-tech enterprise and has established a drug research institute to enhance its R&D capabilities[37]. - The company is actively expanding its product range and optimizing management mechanisms to enhance market competitiveness[43]. - The company is focusing on the R&D of heparin series products, hyaluronic acid series products, and new drugs like Aibennapeptide[60]. Revenue Sources - Heparin preparations generated revenue of 803.41 million yuan, a year-on-year increase of 35.90%[44]. - Sales revenue from heparin raw materials reached 575.40 million yuan, up 42.27% year-on-year[45]. - The sales volume and price of heparin raw materials have increased, contributing to the company's revenue growth[43]. Investment and Financial Management - The total investment during the reporting period was ¥5,050,000.00, reflecting a significant increase of 98.04% compared to ¥2,550,000.00 in the previous year[75]. - The total amount raised from the non-public offering was RMB 60,000 million, with a net amount of RMB 58,335.29 million after expenses[78]. - The interest income from the raised funds amounted to RMB 1,377.69 million, with RMB 3,067.14 million utilized from the special account[78]. - The company committed to invest a total of RMB 58,335.2 million in projects, with RMB 1.89 million invested during the reporting period, achieving an investment progress of 28.53%[79]. Environmental Compliance - The company processed a total of 21,750 tons of wastewater in the first half of 2021, with no instances of exceeding discharge standards[126]. - The subsidiary, Kaikede, processed 55,119 tons of wastewater during the same period, also with no exceedances in discharge standards[126]. - The company generated a total of 24.3256 tons of hazardous waste in the first half of 2021, all of which was disposed of by qualified units[132]. - The company achieved a 100% pass rate in the LDAR testing for VOCs, effectively reducing unorganized emissions and air pollution[132]. - The company has maintained stable operations of its wastewater treatment facilities, ensuring compliance with environmental standards throughout the reporting period[126]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[129]. - The company has implemented a comprehensive environmental monitoring plan, with all monitored parameters meeting discharge standards[128]. Shareholder Information - The total number of shares increased from 934,966,878 to 934,966,878, with a slight increase in restricted shares from 253,271,828 to 253,489,328[167]. - The company’s management increased their holdings, with Vice President Li Zhihua acquiring 190,000 shares and CFO Wang Jun acquiring 100,000 shares during the reporting period[167]. - The total number of common shareholders at the end of the reporting period is 32,024[174]. - The largest shareholder, Gao Shuhua, holds 35.69% of the shares, totaling 333,644,728 shares[174]. - The second-largest shareholder, Guotou High-tech Investment Co., Ltd., holds 12.56%, amounting to 117,403,020 shares[174]. Risks and Challenges - The company is facing risks from policy and industry changes, which could impact drug production and competition[104]. - Rising procurement costs for heparin crude products are a concern, prompting the company to monitor market prices closely and enhance self-supply capabilities[107]. - The company reported that the sales growth of heparin preparations was below expectations, leading to a reassessment of investment projects[79]. Legal and Compliance Matters - The company did not engage in any related party transactions during the reporting period[145]. - The company reported a litigation amount of 1.3186 million yuan related to a contract dispute with Beijing Jiacheng Pharmaceutical Co., Ltd.[143]. - There were no significant penalties or rectifications during the reporting period[144]. - The company has not experienced any significant litigation or arbitration matters during the reporting period[141].

Financial Performance - The company's operating revenue for Q1 2021 reached ¥710,471,945.23, representing a 78.36% increase compared to ¥398,337,913.55 in the same period last year[8] - Net profit attributable to shareholders was ¥68,564,864.13, up 40.56% from ¥48,781,306.45 year-on-year[8] - Basic earnings per share increased to ¥0.07, reflecting a 40.00% rise from ¥0.05 in the same quarter last year[8] - The company's operating revenue for Q1 2021 reached 710.47 million CNY, an increase of 78.36% compared to the same period last year[26] - The net profit attributable to the parent company was 68.56 million CNY, reflecting a growth of 40.56% year-on-year[24] - The company's net profit for the first quarter is not explicitly stated, but the increase in revenue and costs suggests a focus on growth despite rising expenses[66] - The net profit for the current period was ¥66,736,639.13, up 51.5% from ¥44,080,297.75 in the previous period[76] - The total comprehensive income for the current period was ¥66,736,639.13, compared to ¥44,080,297.75 in the previous period, indicating a 51.5% increase[79] - The company's operating profit was ¥75,714,852.21, which is a 45.7% increase from ¥51,991,135.14 in the previous period[76] - The company reported a total profit of ¥75,614,852.21, an increase of 54.6% from ¥48,906,306.47 in the previous period[76] Cash Flow - The net cash flow from operating activities was ¥74,511,494.41, a significant recovery from a negative cash flow of ¥-307,050,623.24 in the previous year, marking a 124.27% improvement[8] - Cash flow from operating activities saw a net inflow increase of 124.27% year-on-year, driven by higher cash receipts from sales[25] - The cash flow from operating activities was ¥765,419,716.52, compared to ¥434,520,472.49 in the previous period, marking a 76% increase[80] - The net cash flow from operating activities was CNY 74.51 million, a turnaround from a negative CNY 307.05 million in the previous period[84] - The company reported a significant increase in sales cash receipts to CNY 741.14 million, compared to CNY 454.37 million in the previous period[87] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,606,218,350.24, a 0.74% increase from ¥4,572,556,783.14 at the end of the previous year[8] - The total assets of the company increased from ¥4,522,331,607.46 to ¥4,616,811,957.19, marking a growth of approximately 2.1%[63] - The total liabilities decreased to CNY 1,685,339,999.78 from CNY 1,719,328,775.53, a decline of about 2.0%[53] - Total liabilities rose from ¥1,664,068,858.42 to ¥1,691,812,569.02, an increase of about 1.7%[63] Shareholder Information - The top shareholder, Gao Shuhua, holds 35.69% of the shares, with a total of 333,644,728 shares[12] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[15] Research and Development - Research and development expenses rose by 72.83% compared to the previous year, indicating increased investment in R&D[23] - Research and development expenses for the first quarter were ¥40,999,115.40, up from ¥23,722,505.21, indicating a significant increase of about 72.6% as the company invests in innovation[66] - Research and development expenses rose to ¥36,681,300.67, up 55.2% from ¥23,614,703.22, highlighting the company's commitment to innovation[73] Other Income and Expenses - The company reported a government subsidy of ¥3,180,483.63 during the reporting period[8] - Other income increased by 84.22% year-on-year, mainly due to higher government subsidies related to operating activities[23] - The income tax expense for the current period was ¥8,878,213.08, compared to ¥4,826,008.72 in the previous period, reflecting a 83.5% increase[76] - The company recorded other income of ¥2,847,937.70, which is an increase from ¥1,046,471.19 in the previous period, indicating a growth of 172.5%[73] Inventory and Accounts Receivable - Accounts receivable financing increased by 122.24% from the beginning to the end of the period, primarily due to an increase in outstanding bills[22] - Accounts receivable decreased to CNY 360,573,362.98 from CNY 387,300,920.58, indicating a reduction of about 6.9%[47] - Inventory increased to CNY 1,901,517,923.91 from CNY 1,886,950,438.19, showing a growth of approximately 0.8%[47] - Accounts receivable increased from ¥397,924,112.88 to ¥417,083,134.30, reflecting a rise of about 4.3%[57] - Inventory levels remained stable, with a slight increase from ¥1,757,827,045.66 to ¥1,758,844,500.20, indicating a focus on maintaining stock levels[57]

Financial Performance - The company reported a total revenue of 934,966,878 RMB for the year 2020, with no cash dividends or bonus shares distributed to shareholders [7]. - The company's operating revenue for 2020 was ¥2,363,785,855.34, representing a 14.11% increase compared to ¥2,071,479,809.92 in 2019 [23]. - The net profit attributable to shareholders for 2020 was ¥252,842,315.01, up 12.23% from ¥225,285,377.10 in 2019 [23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥251,731,831.72, reflecting a 16.32% increase from ¥216,409,072.76 in 2019 [23]. - The company's total assets at the end of 2020 were ¥4,572,556,783.14, a 15.98% increase from ¥3,942,592,048.87 at the end of 2019 [23]. - The company's low molecular weight heparin products achieved significant results in centralized procurement, winning bids for 8 specifications across Shanxi, Shandong, and Henan provinces, with Shanxi and Henan being exclusive wins [60]. - The total operating revenue for 2020 was CNY 2.36 billion, a 14.11% increase from CNY 2.07 billion in 2019, with the biopharmaceutical sector contributing CNY 2.32 billion, up 12.66% [69]. - The net cash flow from operating activities for 2020 was -¥183,581,174.22, a decline of 215.83% compared to -¥58,127,157.71 in 2019 [23]. Market Position and Product Development - The company has a leading position in the domestic low molecular weight heparin market, with a focus on upstream product development and export [38]. - The company is recognized as one of the few domestic enterprises with a complete heparin product industry chain, engaging in the R&D, production, and sales of heparin products [39]. - The core product, low molecular weight heparin calcium injection, accounts for over 10% of the company's main business revenue [40]. - The company is currently developing a Class I new drug for the treatment of type II diabetes, which has entered the clinical phase III [40]. - The company is also developing and producing citrulline sildenafil and other products [41]. - The company has established a comprehensive heparin product industry chain, enhancing its competitive position in the market [46]. - The company plans to focus on R&D for heparin series products and new drug development in the coming years, increasing investment in innovation [54]. Governance and Compliance - The company’s financial report has been verified for accuracy and completeness by its board and accounting personnel, ensuring transparency for investors [5]. - The company’s governance structure includes a board of directors and a supervisory board, ensuring oversight and accountability [6]. - The company’s financial advisor and accounting firm have been retained for ongoing compliance and reporting duties, ensuring adherence to regulatory standards [22]. - The company has established a governance structure to ensure compliance with dividend distribution policies and protect minority shareholders' rights [159]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period [169]. Risks and Challenges - The company has acknowledged potential risks in production and operations, including policy and industry risks, intensified market competition, and new product development risks [7]. - The company faces risks from intensified market competition in the heparin raw material sector and is enhancing its capabilities across R&D, production, and marketing to mitigate these risks [137]. - The company recognizes the risk of rising procurement costs for heparin crude products and plans to monitor market prices closely while increasing self-supply capabilities [141]. - The company acknowledges the potential for increased period expenses due to market competition and diversified R&D, which may pressure its cost control capabilities [142]. Investment and Capital Management - The company has ongoing projects requiring significant capital investment, including clinical trials and facility construction, which will utilize retained earnings [168]. - The total investment amount for the reporting period was 6,560,000.00, a decrease of 88.30% compared to the previous year [101]. - The company plans to use RMB 40,000 million of idle raised funds to temporarily supplement working capital, with a usage period not exceeding 12 months [109]. - The company invested RMB 2,307.23 million in the polysaccharide and peptide product industrialization project during the reporting period, with a cumulative investment of RMB 16,648.82 million, achieving an investment progress of 28.54% [106]. Shareholder Returns and Dividends - The company implemented a cash dividend policy for 2019, distributing RMB 0.13 per 10 shares based on a total of 934,966,878 shares, amounting to a total cash dividend of RMB 120,010,884.81 [158]. - In 2020, the company repurchased 15,906,000 shares for a total amount of RMB 120,010,884.81, which is considered as cash dividend for the purpose of calculating the dividend ratio [165]. - The cash dividend total for 2020, including repurchase amounts, accounted for 47.88% of the net profit attributable to ordinary shareholders, which was RMB 252,842,315.01 [164]. - The company did not distribute cash dividends for 2020, focusing instead on share repurchase to ensure cash flow and sustainable development [165]. Subsidiaries and External Relations - The company has a total of 71 subsidiaries, including fully-owned subsidiaries and joint ventures, indicating a broad operational footprint [13]. - The subsidiary Hebei Changshan Jiukang Biotechnology Co., Ltd. reported a net loss of RMB 45,619,005.55 [117]. - The subsidiary Changshan Pharmaceutical (Hong Kong) Co., Ltd. achieved an operating income of RMB 141,160,880.03 with a net profit of RMB 9,515,544.76 [118]. - The company achieved a net profit of 27,672,336.34 CNY from its Jiangsu subsidiary, primarily from the sale of low molecular heparin raw materials and exports of heparin sodium raw materials [128]. - The Hong Kong subsidiary generated a net profit of 9,515,544.76 CNY from exporting raw materials [128]. Future Outlook and Strategic Goals - The company aims to become a leading domestic biopharmaceutical enterprise by 2025 and an internationally renowned biopharmaceutical enterprise by 2030 [134]. - The company plans to increase production and sales of low molecular weight heparin preparations while expanding into overseas developed markets [135]. - The company intends to enhance its export business's contribution to revenue and profit through the construction of a raw material base and international market expansion [135]. - The company is focusing on developing new products, including bovine heparin raw materials and low molecular preparations, to tap into the global Muslim market [135]. - The company aims to accelerate the clinical and market progress of new drugs, including Abenetide and anti-tumor drugs, to enter the diabetes and anti-tumor markets within 5 to 6 years [135]. - The company will pursue opportunities for mergers, technical cooperation, and joint ventures to enhance its innovation capabilities and sustainable growth [135].

Financial Performance - Operating revenue for the reporting period was ¥627,763,709.10, representing a year-on-year increase of 19.40%[8] - Net profit attributable to shareholders of the listed company was ¥73,967,718.67, up 4.24% year-on-year[8] - Basic earnings per share for the reporting period was ¥0.08, unchanged from the previous year[8] - The company reported a net profit of ¥1,377,130,848.91, up from ¥1,184,663,530.00, reflecting an increase of approximately 16.3% in retained earnings[44] - Total operating revenue for the current period reached ¥627,763,709.10, an increase from ¥525,781,826.50 in the previous period, representing a growth of approximately 19.4%[53] - Net profit for the current period was ¥73,643,135.86, compared to ¥70,301,795.02 in the previous period, reflecting a growth of approximately 3.3%[59] - The company reported a total comprehensive income of ¥59,423,573.09 for the current period, down from ¥71,612,311.36 in the previous period[62] - The total profit for the current period was ¥261,965,048.70, an increase of 15.8% compared to ¥226,204,755.78 in the previous period[80] Assets and Liabilities - Total assets at the end of the reporting period reached ¥4,619,090,027.38, an increase of 17.16% compared to the end of the previous year[8] - Non-current assets totaled ¥1,500,728,079.13, compared to ¥1,408,374,015.80, reflecting an increase of about 6.5%[41] - Current liabilities rose to ¥1,495,085,908.86 from ¥1,188,124,516.75, marking an increase of approximately 26%[41] - The company's total liabilities reached ¥1,802,944,043.11, up from ¥1,220,317,707.40, reflecting a growth of about 47.7%[41] - Total liabilities increased to ¥1,857,496,020.17 from ¥1,264,625,864.56, marking a rise of approximately 47%[51] - The equity attributable to shareholders increased to ¥2,809,960,907.54 from ¥2,714,925,009.49, a rise of approximately 3.5%[44] Cash Flow - The net cash flow from operating activities was ¥13,995,074.21, a decrease of 70.22% compared to the same period last year[8] - Cash flow from operating activities showed a net outflow of ¥402,681,670.92, worsening from a net outflow of ¥195,091,069.12 in the previous period[86] - Cash inflow from financing activities totaled 2,317,391,878.90, significantly up from 1,164,522,532.50 in the prior period, reflecting increased financing efforts[96] - The cash outflow from financing activities was 1,888,848,097.38, compared to 1,162,896,313.14 previously, showing a rise in cash used for financing[96] Shareholder Information - The total number of common shareholders at the end of the reporting period was 30,949[13] - The largest shareholder, Gao Shuhua, holds 35.69% of the shares, totaling 333,644,728 shares[13] Expenses - Total operating costs amounted to ¥543,883,902.09, up from ¥446,080,632.07, indicating an increase of about 21.9%[56] - Research and development expenses decreased to ¥27,992,355.94 from ¥38,973,977.21, a reduction of approximately 28.2%[56] - Sales expenses increased to ¥294,566,909.48 from ¥260,519,818.46, reflecting a rise of about 13%[56] - Financial expenses increased by 40.92% compared to the same period last year, mainly due to increased interest expenses and fees[24] Inventory and Receivables - Accounts receivable financing decreased by 53.93% compared to the beginning of the period, mainly due to the endorsement transfer of bank acceptance bills[24] - Prepayments increased by 31.11% compared to the beginning of the period, primarily due to increased prepayments for raw materials and marketing expenses[24] - Other receivables increased by 161.91% compared to the beginning of the period, mainly due to the increase in procurement deposits for biological raw materials[24] - Inventory increased by 33.44% compared to the beginning of the period, primarily due to rising raw material prices and increased procurement of biological raw materials[24] Strategic Developments - There were no significant changes in the company's strategy or new product developments mentioned in the report[8]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,009,847,609.95, representing an increase of 11.84% compared to CNY 902,972,590.90 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was CNY 130,654,169.65, up 5.98% from CNY 123,277,277.94 in the previous year[25]. - The net profit after deducting non-recurring gains and losses was CNY 130,437,911.69, reflecting an increase of 11.71% compared to CNY 116,769,849.74 in the same period last year[25]. - The basic earnings per share for the reporting period were CNY 0.14, an increase of 7.69% compared to CNY 0.13 in the same period last year[25]. - The diluted earnings per share were also CNY 0.14, reflecting a 7.69% increase from CNY 0.13 in the previous year[25]. - The total revenue from the biopharmaceutical segment reached 1,000,723,780.72, with a year-on-year growth of 10.85%[78]. - The sales revenue from low molecular weight heparin calcium injection was 465.73 million CNY, maintaining the leading market position for ten consecutive years[62]. - Heparin raw material revenue amounted to CNY 404.45 million, representing a year-on-year growth of 42.90%[67]. Cash Flow and Assets - The net cash flow from operating activities was CNY -416,676,745.13, which is a decline of 72.11% compared to CNY -242,092,537.36 in the previous year[25]. - The total assets at the end of the reporting period were CNY 4,393,088,517.65, an increase of 11.43% from CNY 3,942,592,048.87 at the end of the previous year[25]. - The net assets attributable to shareholders of the listed company were CNY 2,855,190,247.64, up 5.17% from CNY 2,714,925,009.49 at the end of the previous year[25]. - The company's total inventory value rose to 1,763,666,907.84, accounting for 40.15% of total assets, reflecting increased raw material costs[82]. - The net increase in cash and cash equivalents was -85,455,053.52, a decrease of 77.65% compared to the previous year[78]. Market Position and Products - The company has a leading position in the domestic low molecular weight heparin market, with significant exports to countries including the USA, Germany, and Japan[35]. - The company is one of the few in China with a complete heparin product supply chain, including raw heparin, active pharmaceutical ingredients, and finished products[36]. - The heparin market is experiencing stable growth, with increasing demand in both domestic and international markets[44]. - The company has developed multiple proprietary heparin technologies, enhancing its competitive edge in the market[45]. - The production process and product quality of the company's heparin products are at the industry-leading level, with some standards exceeding those of peers[52]. Research and Development - The company is currently developing Class I new drugs, including a GLP-1 long-acting formulation for type 2 diabetes and a C-met inhibitor for lung cancer[36]. - The company has been recognized as a national high-tech enterprise and has established a drug research institute to enhance its innovation capabilities[36]. - Research and development investment remained stable at approximately CNY 71.14 million, reflecting the company's commitment to innovation[74]. - The company plans to focus on the R&D and registration of heparin series products and other new drug developments in the coming years[54]. - The company has initiated Phase III clinical trials for the GLP-1 long-acting drug, aiming for timely clinical submissions for innovative drugs[71]. Financial Management and Risks - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[7]. - The company plans to enhance its internal control systems and management levels to support sustainable growth amid expansion[73]. - The company faces major risks including policy and industry risks, intensified market competition risks, and new product development risks[152][156]. - The company will strengthen cooperation with domestic and foreign research institutions to mitigate risks associated with new product development[156]. - The company will closely monitor the market price trends of heparin raw materials to control procurement costs[157]. Subsidiaries and Other Financial Matters - The subsidiary Hebei Changshan Jiukang Biotechnology Co., Ltd. reported a net loss of CNY 15,850,237.97[141]. - The subsidiary Changshan Pharmaceutical (Hong Kong) Co., Ltd. reported a net loss of CNY 522,297.55[144]. - The subsidiary Changshan Biochemical (Jiangsu) Co., Ltd. reported a net profit of CNY 12,983,748.00[144]. - The company has not engaged in entrusted financial management, derivative investments, or entrusted loans during the reporting period[137][138][139]. - The company did not experience any major environmental protection issues during the reporting period[186]. Shareholding and Corporate Governance - There were no significant changes in shareholding structure during the reporting period, with total shares remaining at 934,966,878[194]. - The company did not implement any employee stock ownership plans or incentive measures during the reporting period[172]. - The total number of restricted shares at the beginning was 253,271,828, with no shares released during the period, and an increase of 224,675 restricted shares, resulting in a total of 253,496,503 restricted shares at the end[198]. - Gao Shuhua holds 250,233,546 restricted shares, which are locked due to executive departure, with a transfer limit of 25% of total shares held per year after the term ends[198].

Financial Performance - The company reported a total revenue of 934,966,878 CNY for the year 2019, with a cash dividend of 0.13 CNY per 10 shares distributed to shareholders[7]. - The company's operating revenue for 2019 was ¥2,071,479,809.92, representing a 25.34% increase compared to ¥1,652,633,921.48 in 2018[5]. - The net profit attributable to shareholders for 2019 was ¥225,285,377.10, a 60.93% increase from ¥139,987,092.37 in 2018[5]. - The net profit after deducting non-recurring gains and losses was ¥216,409,072.76, up 59.57% from ¥135,621,640.42 in 2018[5]. - The company's total assets at the end of 2019 were ¥3,942,592,048.87, a 2.54% increase from ¥3,844,836,970.34 at the end of 2018[5]. - The company reported a net cash flow from operating activities of -¥58,127,157.71, a significant decrease of 119.85% compared to ¥292,806,829.23 in 2018[5]. - The company reported a total of ¥8,876,304.34 in non-recurring gains for 2019, compared to ¥4,365,451.95 in 2018[28]. - The net profit attributable to shareholders reached CNY 225.29 million, an increase of 60.93% year-on-year[53]. - Total operating revenue for 2019 was CNY 2,071.48 million, representing a year-on-year increase of 25.34%[63]. - The revenue from low molecular weight heparin preparations was CNY 1,383.30 million, accounting for 66.78% of total revenue, with a year-on-year growth of 22.29%[63]. - The total revenue for heparin raw materials reached ¥252,754,493.78, showing a slight increase from ¥235,728,478.66, with a percentage change of 0.00%[74]. - The total revenue for water injection preparations was ¥286,109,245.38, up from ¥231,882,762.10, reflecting a percentage change of 0.00%[74]. Risk Management - The company emphasizes the importance of recognizing potential risks in production and operations, including policy and industry risks, intensified market competition, and new product development risks[7]. - The company’s future plans and forecasts are subject to risks, and investors are advised to maintain sufficient risk awareness regarding these forward-looking statements[6]. Corporate Governance - The company’s financial report has been confirmed as true, accurate, and complete by its board of directors and senior management[5]. - The company operates under the regulatory frameworks of the Company Law and Securities Law of the People's Republic of China[14]. - The company has not faced any major litigation or arbitration matters during the reporting period[171]. - The company has not engaged in any significant related party transactions during the reporting period[177]. - The company has actively fulfilled its social responsibilities and maintained transparent communication with investors[192]. Research and Development - The company is focusing on R&D for heparin series products and new drug development, with plans to increase investment in R&D[48]. - Research and development expenses increased to ¥135,911,581.80, a rise of 37.44% compared to ¥98,887,103.73 from the previous year[79]. - The company is currently developing multiple projects, including CS001 for type 2 diabetes and CSD020 for treating acute deep vein thrombosis, with the goal of obtaining drug registration certificates[80]. - The company is developing new drugs, including a GLP-1 long-acting formulation for type 2 diabetes and a C-met inhibitor for lung cancer, which are expected to enter clinical trials soon[34]. - The clinical trial for the GLP-1 long-acting formulation, aimed at treating type 2 diabetes, has completed phase II trials with positive results, and preparations for phase III trials are underway[61]. Market Position and Strategy - The company is a leading enterprise in the domestic heparin product industry, with a complete heparin product supply chain[33]. - The company has received FDA and EU certifications for its heparin products, enhancing its international market presence[34]. - The company aims to leverage the policy and geographical advantages of the Hebei Free Trade Zone to expand its upstream product production and exports[33]. - The company plans to expand its production and sales of low molecular weight heparin formulations while increasing its market share in developed countries[121]. - The company intends to develop new products, including bovine heparin raw materials and low molecular weight formulations, targeting the global Muslim market to significantly boost revenue and net profit within 3-5 years[121]. - The company is focused on external growth through mergers, acquisitions, and partnerships to enhance its innovation capabilities and sustainable growth[122]. - The company has a well-established domestic and international marketing network, reducing dependency on a single market[47]. Subsidiaries and Investments - The company has established several wholly-owned subsidiaries, including Changshan Biochemical (Jiangsu) Co., Ltd. and Changshan Jiukang Biotechnology Co., Ltd.[14]. - The subsidiary Kaikede achieved nearly CNY 50 million in revenue from heparin crude products in its first year of operation, with plans to expand into international markets[55]. - The total committed investment amount for polysaccharide and peptide products is CNY 583.35 million, with an adjusted total investment amount also at CNY 583.35 million[101]. - The cumulative investment amount reached CNY 143.42 million, representing 24.58% of the total committed investment[101]. Cash Flow and Financial Management - The total cash inflow from operating activities was ¥2,256,615,792.75, an increase of 20.34% from ¥1,875,134,281.94[84]. - Cash inflow from investment activities increased by CNY 330.40 million, a growth of 138.23% compared to the previous year, mainly due to an increase in cash received from investment recoveries[88]. - Cash outflow from financing activities increased by CNY 341.96 million, a growth of 261.71%, primarily due to higher cash payments for debt repayment compared to the same period last year[88]. - The net increase in cash and cash equivalents was -¥177,452,553.08, a decline of 194.64% from the previous year[87]. - Total assets composition showed a significant change, with cash and cash equivalents decreasing from 26.55% to 14.29% of total assets, a reduction of 12.26%[88]. Future Outlook - The company aims to become a leading domestic biopharmaceutical enterprise by 2025 and an internationally renowned biopharmaceutical enterprise by 2030[120]. - The company plans to enhance its management capabilities to control rising operational costs due to increased competition and R&D expenses[128]. - The company is implementing new digital marketing strategies aimed at increasing online sales by 30% over the next year[200]. - Strategic acquisitions are being considered to enhance product offerings and expand distribution channels, with a budget of 500 million RMB allocated for potential deals[200].

Financial Performance - Total revenue for Q1 2020 was ¥398,337,913.55, a decrease of 13.17% compared to ¥458,732,011.25 in the same period last year[8] - Net profit attributable to shareholders was ¥48,781,306.45, down 13.90% from ¥56,655,872.70 year-on-year[8] - Basic earnings per share decreased by 16.67% to ¥0.05 from ¥0.06 in the same period last year[8] - The company achieved operating revenue of 398.34 million yuan in the first quarter, a decrease of 13.17% compared to the same period last year[26] - Net profit attributable to shareholders was 48.78 million yuan, a decrease of 13.90% year-on-year[26] - The company's net profit for the period is projected to show significant changes compared to the same period last year, although specific figures are not disclosed[36] - Net profit for the period was CNY 48,391,484.27, a decline of 13.36% from CNY 55,770,916.88 in the same period last year[63] - The net profit for the current period is ¥44,080,297.75, a decline of 5.8% from ¥46,788,945.60 in the previous period[70] Cash Flow - Net cash flow from operating activities was -¥307,050,623.24, representing a decline of 138.53% compared to -¥128,727,834.88 in the previous year[8] - Net cash outflow from operating activities increased by 138.53% year-on-year, primarily due to increased cash payments related to operating activities[25] - The net cash flow from operating activities is negative at -¥307,050,623.24, worsening from -¥128,727,834.88 in the previous period[77] - The cash inflow from operating activities totaled ¥441,729,202.70, compared to ¥479,857,852.40 in the previous period[74] - The net cash flow from financing activities was $135,786,763.83, compared to a negative cash flow of $67,665,261.13 in the previous period, indicating a significant improvement[80] - The cash outflow for operating activities increased to $762,177,383.21 from $619,070,253.93, reflecting higher operational costs[81] - The company reported a cash flow from investment activities of -$18,113,171.42, an improvement from -$47,720,842.45 in the previous year[84] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,076,214,649.61, an increase of 3.39% from ¥3,942,592,048.87 at the end of the previous year[8] - The company's total assets amounted to CNY 4,076,214,649.61, an increase from CNY 3,942,592,048.87 at the end of 2019, representing a growth of approximately 3.4%[41] - Total liabilities increased to CNY 1,302,030,408.98 from CNY 1,220,317,707.40, representing a growth of about 6.7%[47] - The company's total liabilities stood at approximately $1.19 billion, reflecting ongoing financial obligations[88] - Total liabilities amounted to CNY 1,220,317,707.40, with total equity at CNY 2,722,274,341.47, resulting in total assets of CNY 3,942,592,048.87[91] - Current assets totaled CNY 2,526,499,869.01, while non-current assets were CNY 1,479,492,355.03, leading to a total asset figure of CNY 4,005,992,224.04[95] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 29,183[12] - The largest shareholder, Gao Shuhua, holds 35.69% of the shares, totaling 333,644,728 shares[12] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[19] - The total equity attributable to shareholders increased to CNY 2,767,224,730.83 from CNY 2,714,925,009.49, reflecting a growth of approximately 1.9%[50] Operational Metrics - Operating costs decreased by 30.53% year-on-year, mainly due to reduced sales of heparin raw materials and low molecular weight heparin preparations[25] - The top five suppliers accounted for 38.18% of total purchases, amounting to 114.41 million yuan[28] - The top five customers accounted for 21.47% of total sales, amounting to 85.51 million yuan[28] - The company plans to continue expanding product varieties and improving product quality in line with its strategic goals[28] - The company reported a decrease in sales expenses to CNY 187,118,366.48, down from CNY 204,790,122.62[60] - Research and development expenses were CNY 23,722,505.21, slightly down from CNY 23,932,784.13[60] - Research and development expenses increased to ¥23,614,703.22, up from ¥22,737,595.31 in the previous period, indicating a focus on innovation[67] Inventory and Receivables - Cash and cash equivalents decreased by 32.65% compared to the beginning of the period, mainly due to the payment of deferred taxes from the previous year and increased raw material prices[24] - Accounts receivable financing decreased by 36.19% compared to the beginning of the period, primarily due to the endorsement transfer of high-credit bank acceptance bills[24] - Prepayments increased by 52.22% compared to the beginning of the period, mainly due to increased prepayments for raw material purchases and marketing expenses[24] - The company reported a decrease in accounts receivable to CNY 290,259,210.06 from CNY 296,770,247.07, a decline of about 2%[41] - The company holds cash and cash equivalents of CNY 534,684,295.86 and accounts receivable of CNY 297,427,381.25[91] - The company has a total of CNY 1,348,688,368.14 in inventory, reflecting its operational capacity[91] Financial Structure - The company's equity totaled CNY 2,785,446,657.23, an increase from CNY 2,741,366,359.48[57] - The total comprehensive income attributable to the parent company is ¥52,299,721.33, down from ¥58,802,105.75 in the previous period[66] - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[37] - The company has a retained earnings balance of CNY 1,184,663,530.00, indicating strong profitability retention[91] - The company has not undergone an audit for the first quarter report, which may affect the reliability of the financial data presented[98]

Financial Performance - Operating revenue for the period reached CNY 525,781,826.50, a 20.54% increase year-on-year[8] - Net profit attributable to shareholders increased by 29.28% to CNY 70,957,328.87 compared to the same period last year[8] - Basic earnings per share rose by 33.33% to CNY 0.08[8] - Total operating revenue for the current period reached ¥525,781,826.50, an increase of 20.5% compared to ¥436,193,853.25 in the previous period[53] - Net profit for the current period was ¥70,301,795.02, representing a 29.5% increase from ¥54,237,565.19 in the previous period[56] - The total comprehensive income for the current period was ¥72,267,845.21, compared to ¥45,313,897.55 in the previous period, showing a significant increase of 59.6%[60] - The total comprehensive income for the current period was ¥78,709,598.32, up from ¥54,571,569.91 in the previous period[66] - Net profit for the current period was ¥202,475,165.19, compared to ¥161,169,675.84 in the previous period, representing a growth of 25.6%[79] Assets and Liabilities - Total assets increased by 4.97% to CNY 4,035,875,603.02 compared to the end of the previous year[8] - Total liabilities amounted to ¥1,345,900,837.11, up from ¥1,321,811,944.11, indicating a growth of around 1.8%[39] - Current liabilities increased to ¥1,112,139,440.56 from ¥1,087,225,065.94, showing a rise of about 2.3%[39] - The total assets amounted to ¥3,844,836,970.34, remaining stable compared to the previous reporting period[101] - Total liabilities amounted to CNY 1,321,811,944.11, with current liabilities at CNY 1,087,225,065.94[108] - The total assets of the company were CNY 3,920,311,564.94, with non-current assets at CNY 1,355,388,161.77[114] Cash Flow - Cash flow from operating activities showed a significant decline, with a net cash outflow of CNY -195,091,069.12, a decrease of 618.23% compared to the previous year[8] - Net cash inflow from operating activities decreased by 618.23% compared to the same period last year, mainly due to increased cash payments related to operating activities[22] - Cash flow from operating activities generated a net outflow of ¥195,091,069.12, compared to a net inflow of ¥37,645,343.75 in the previous period[85] - Net cash flow from operating activities was -¥138,149,438.86, compared to -¥3,987,833.92 in the previous period, indicating a significant decline[94] Shareholder Information - The total number of shareholders at the end of the reporting period was 28,086[12] - The largest shareholder, Gao Shuhua, holds 35.69% of the shares, amounting to 333,644,728 shares[12] Expenses - Sales expenses increased by 40.90% compared to the same period last year, primarily due to increased marketing expenses[22] - Research and development expenses for the current period were ¥38,973,977.21, up from ¥31,137,192.57, reflecting a growth of 25.2%[53] - The company’s sales expenses rose to ¥259,976,993.84, reflecting a 37% increase from ¥189,661,423.92 in the previous period[63] - Financial expenses for the current period were ¥9,233,747.09, which is a 45.5% increase from ¥6,362,291.90 in the previous period[63] Government Subsidies - The company received government subsidies amounting to CNY 7,926,708.03 during the reporting period[8] - Other income increased by 95.75% compared to the same period last year, mainly due to an increase in government subsidies related to operating activities[22] Inventory and Receivables - Accounts receivable decreased by 51.65% compared to the beginning of the period, mainly due to a reduction in the company's bill settlement business[22] - Prepayments increased by 81.21% compared to the beginning of the period, primarily due to prepaid goods and market development expenses[22] - Inventory increased from CNY 1,083,154,292.88 at the end of 2018 to CNY 1,352,992,132.71 by September 30, 2019[33] - The pre-receivable amount increased to ¥252,275,168.80 from ¥223,454,598.51, a rise of 12.9%[52]