Financial Performance - The company reported a significant impact on its business due to a decrease in routine outpatient testing volumes, particularly in biochemical diagnostics, resulting in a direct effect on revenue [5]. - The company's operating revenue for 2020 was ¥471,510,962.68, a decrease of 8.47% compared to ¥515,143,483.47 in 2019 [26]. - The net profit attributable to shareholders in 2020 was -¥50,983,731.69, representing a decline of 908.09% from a profit of ¥6,309,184.34 in 2019 [26]. - The total assets at the end of 2020 were ¥1,628,633,453.83, down 4.99% from ¥1,714,157,129.69 at the end of 2019 [26]. - The net assets attributable to shareholders decreased by 4.19% to ¥1,261,642,033.09 at the end of 2020, compared to ¥1,316,803,218.91 at the end of 2019 [26]. - The basic earnings per share for 2020 was -¥0.12, a decrease of 700.00% from ¥0.02 in 2019 [26]. - The diluted earnings per share also stood at -¥0.12 for 2020, reflecting the same decline as the basic earnings per share [26]. - The weighted average return on equity was -3.95% in 2020, down 4.43% from 0.48% in 2019 [26]. - The company reported a significant increase in non-operating income, with a total of ¥21,921,183.83 in 2020 compared to ¥17,238,969.47 in 2019 [26]. - The company has indicated uncertainty regarding its ability to continue as a going concern, as the net profit for the last three accounting years has been negative [26]. Research and Development - The company emphasizes the importance of developing new technologies and products to meet increasing market demands, with a focus on accelerating the commercialization of new products [6]. - The company is committed to enhancing its research and development capabilities to maintain a competitive edge in the in vitro diagnostics industry [6]. - The company emphasizes R&D investment and has developed a comprehensive innovation system, enhancing product performance and expanding product variety to meet market demands [47]. - The company has established a complete and efficient R&D, procurement, production, marketing, and service system for in vitro diagnostic products [41]. - The company has 46 ongoing projects in the biochemical reagent field, with 13 products in the registration process and 27 new projects initiated in 2020 [72]. - The company has 75 medical device products under registration, including 2 new product registrations [96]. - The company is committed to enhancing its research and development efforts to introduce new technologies in the medical diagnostics field [97]. - The company is actively pursuing the development of new products, with several kits, such as ß2-Microglobulin (BMG) and C-Reactive Protein (CRP), also in the registration process [98]. Market and Competition - The company highlights the risk of market competition intensifying, which could lead to a slowdown in performance and market share if it fails to diversify effectively [5]. - The domestic in vitro diagnostic market is expected to continue growing due to factors such as an aging population and increased government investment in healthcare, creating significant demand for the industry [45]. - The in vitro diagnostic industry in China is projected to reach a market size of approximately 700 billion yuan, with significant potential for domestic product substitution, particularly in the chemiluminescence sector [47]. - The company is focused on enhancing its market presence by introducing innovative diagnostic solutions, which may lead to increased revenue streams in the future [98]. - The company aims to enhance its market share in high-throughput and high-sensitivity diagnostic products, particularly in the fields of chemiluminescence and molecular diagnostics [133]. Risks and Challenges - The company faces risks related to the collection of accounts receivable, with a high proportion of net accounts receivable relative to total current assets, which may lead to potential bad debt losses [9]. - The company acknowledges the risk of goodwill impairment due to changes in industry policies or competition, which could affect profitability [10]. - The company is closely monitoring the ongoing global COVID-19 pandemic, which poses uncertainties for raw material procurement and overall business operations [12]. - The company is aware of the risks associated with management and operational challenges as it scales up its operations in a competitive environment [11]. - The company has implemented measures to protect its core technologies, but there remains a risk of leakage or theft of proprietary information [8]. Cash Flow and Investments - The net cash flow from operating activities increased by 8.75% to ¥135,559,303.27 in 2020, compared to ¥124,648,403.19 in 2019 [26]. - The total cash inflow from operating activities decreased by 10.43% to ¥598,287,068.08 compared to the previous year [105]. - The total cash outflow from operating activities decreased by 14.83% to ¥462,727,764.81, indicating improved cost management [105]. - The net cash flow from investing activities improved by 8.42%, resulting in a net outflow of ¥23,701,555.42 [105]. - Cash and cash equivalents increased significantly by 308.85% to ¥66,113,335.28, reflecting strong liquidity [105]. Corporate Governance and Compliance - The company has committed to maintaining independent asset management and operational integrity [156]. - The company has established a complete corporate governance structure to ensure independent decision-making [159]. - The company has committed to avoiding competition with its subsidiaries and ensuring fair treatment in related transactions [155]. - The company ensures the independence of its financial department and accounting system, maintaining a separate bank account and independent tax obligations [157]. - The company has pledged to provide fair and transparent procedures for any unavoidable related transactions [158]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies [163]. - The company plans to increase R&D investment in 2021, focusing on opportunities for domestic replacement of chemiluminescence products and expanding its testing menu [134]. - The company is focused on enhancing its governance and internal control systems to reduce operational compliance risks [140]. - The company is actively pursuing market expansion through new product registrations and updates to existing products [102].

Financial Performance - Operating revenue for the reporting period was ¥148,654,886.29, representing a year-on-year increase of 34.83%[8] - Net profit attributable to shareholders was ¥10,955,588.08, a significant increase of 322.00% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥10,776,962.81, up 398.35% year-on-year[8] - Basic earnings per share for the reporting period was ¥0.0262, reflecting a 322.58% increase compared to the same period last year[8] - Total operating revenue for Q3 2020 reached ¥148,654,886.29, a significant increase from ¥110,255,258.59 in the previous period[41] - Net profit for Q3 2020 was ¥18,284,468.68, compared to ¥6,596,569.53 in the same period last year, reflecting a growth of approximately 177%[43] - Total operating revenue for the period was ¥324,788,378.35, a decrease of 10.25% from ¥361,817,972.51 in the previous period[49] - Net profit for the period was ¥20,588,684.60, down 10.06% from ¥22,960,772.60 in the previous period[50] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,731,427,043.77, an increase of 1.01% compared to the end of the previous year[8] - Total liabilities decreased to CNY 278,708,394.55 from CNY 264,175,219.09, indicating a reduction of about 5.5%[35] - Non-current assets totaled CNY 955,435,340.17, slightly down from CNY 965,552,242.85, a decrease of about 1.2%[34] - The company reported a total owner's equity of CNY 1,452,718,649.22, up from CNY 1,449,981,910.60, reflecting a slight increase of about 0.2%[36] - Total liabilities rose to ¥273,235,493.15 from ¥236,931,054.51, indicating a growth of about 15.3%[42] - Owner's equity totaled CNY 1,449,981,910.60, including CNY 603,297,792.43 in undistributed profits[66] Cash Flow - The net cash flow from operating activities was ¥51,747,994.45, an increase of 27.28% compared to the same period last year[8] - The net cash flow from operating activities for Q3 2020 was ¥87,760,462.53, a decrease from ¥90,610,861.12 in Q3 2019, reflecting a decline of approximately 3%[57] - Total cash inflow from operating activities was ¥462,219,476.32, slightly down from ¥465,723,492.00 in the previous year[57] - The net cash flow from investing activities was ¥124,996.34, a significant improvement from a negative cash flow of ¥40,982,386.74 in the same period last year[58] - The company reported a total cash inflow from operating activities of ¥194,867,033.99 for the year-to-date period, down from ¥242,302,020.06 in the previous year[59] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,548[12] - The largest shareholder, Guangzhou High-tech Zone Technology Holding Group Co., Ltd., held 29.91% of the shares[12] - The company reported no significant changes in the number of preferred shareholders or any repurchase transactions during the reporting period[14] Investments and Expenses - Long-term equity investments grew by 48.25% year-to-date, primarily due to investments in Guangzhou Huangpu Biomedical Industry Investment Fund Management Co., Ltd.[17] - Financial expenses decreased by 102.26% year-to-date, attributed to reduced financing costs compared to the same period last year[18] - Investment income increased by 364.03% year-to-date, mainly due to the disposal of 100% equity in Beijing Apis Biotechnology Co., Ltd.[18] - Research and development expenses decreased to ¥8,869,317.54 from ¥13,563,400.00, a reduction of approximately 34.8%[42] - Research and development expenses were ¥31,854,532.59, a decrease of 14.83% from ¥37,411,451.27[49] Corporate Actions - The company established a wholly-owned subsidiary, Guangzhou Lidman Medical Technology Co., Ltd., with an investment of RMB 10 million[20] - The company reduced its stake in Guangzhou Huangpu from 15% to 7.5% through equity transfer agreements with new investors[21] - The company initiated a private placement of shares to optimize its capital structure and enhance core competitiveness[22] Miscellaneous - The company has a contract liability of CNY 9,826,004.71, reflecting a shift in revenue recognition under the new revenue standard[67] - The report indicates a new revenue recognition standard and new leasing standard were not applicable for the current period[72] - The report was presented by Chairman Wang Kaixiang on October 28, 2020[74]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥176,133,492.06, a decrease of 29.98% compared to ¥251,562,713.92 in the same period last year[25]. - The net profit attributable to shareholders for the first half of 2020 was -¥5,957,646.30, representing a decline of 172.92% from ¥8,169,647.26 in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥3,452,032.39, down 150.64% from ¥6,816,361.58 in the same period last year[25]. - The net cash flow from operating activities was ¥36,012,468.08, a decrease of 27.91% compared to ¥49,953,730.55 in the previous year[25]. - The basic earnings per share for the first half of 2020 was -¥0.0143, a decline of 172.96% from ¥0.0196 in the same period last year[25]. - The total assets at the end of the reporting period were ¥1,693,122,593.40, a decrease of 1.23% from ¥1,714,157,129.69 at the end of the previous year[25]. - The net assets attributable to shareholders at the end of the reporting period were ¥1,306,668,118.48, down 0.77% from ¥1,316,803,218.91 at the end of the previous year[25]. - The weighted average return on net assets was -0.45%, a decrease of 1.07% compared to 0.62% in the previous year[25]. - The company reported a significant increase in investment income, reaching ¥3,224,221.45, a 357.53% increase compared to a loss of ¥1,251,984.85 in the previous year, due to the disposal of a subsidiary[83]. - Cash and cash equivalents increased by 125.23% to ¥20,289,096.72 from ¥9,008,363.57, primarily due to reduced cash outflows compared to the previous year[83]. Market and Competitive Environment - The company faces risks from intensified market competition, particularly in the high-end market dominated by international firms, which may affect its market share and growth rate[5]. - The company is focused on diversifying its product offerings and expanding its market presence to mitigate risks from competitive pressures[5]. - The company is adapting to changes in industry policies and regulations, which could impact its operational strategies and financial performance[4]. - The government’s support for the healthcare sector is creating significant market demand for the in vitro diagnostic industry, providing a favorable external environment for growth[42]. - The in vitro diagnostic market in China is expected to maintain a compound annual growth rate (CAGR) of 15% from 2016 to 2021, driven by increasing healthcare spending and the aging population[44]. Research and Development - The company emphasizes the importance of new product development and registration, as failure to meet market demands could lead to lower sales and potential obsolescence of existing products[6]. - The company is actively enhancing its research and development capabilities to accelerate the introduction of new products to maintain competitive advantages[6]. - The company continues to invest in research and development for new technologies and products to improve its competitive position in the market[19]. - The company invested 13.05% of its operating revenue in research and development during the first half of 2020, focusing on in vitro diagnostic reagents, diagnostic instruments, and biochemical raw materials[50]. - The company has established a comprehensive R&D innovation system and continues to upgrade its products, enhancing performance and expanding product variety to meet market demand[43]. Product Development and Offerings - The company holds 351 medical device product registration certificates, including 278 for biochemical diagnostic reagents and 56 for immunodiagnostic reagents[33]. - The company’s main products include biochemical diagnostic reagents, immunodiagnostic reagents, and diagnostic instruments, catering to various medical needs[34]. - The company is developing a microfluidic POCT platform and has initiated research on a micro-chemiluminescence analysis device, indicating ongoing innovation in product offerings[59]. - The company is focusing on the development of high-precision diagnostic products suitable for grassroots medical institutions, aligning with national health policies[43]. - The company is developing multiple II-class products, such as H-FABP and NEFA testing kits, which are also in the registration application stage[71]. Operational Challenges - The company reported a decline in sales volume of biochemical diagnostic reagents due to the impact of the COVID-19 pandemic, affecting overall revenue[58]. - The impact of the COVID-19 pandemic on the company's operations is significant, with ongoing assessments of its effects on financial status and production capabilities[109]. - The company has taken proactive measures to resume operations during the pandemic and is focused on minimizing adverse impacts on business development[111]. - The company has a high proportion of accounts receivable in its current assets, which poses risks related to collection delays and potential bad debts[9]. - The company is actively managing accounts receivable risks, with accounts receivable net amount representing a significant portion of current assets, and is enhancing credit policies and collection efforts[108]. Corporate Governance and Compliance - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[11]. - The company guarantees that all related transactions with the listed company will be fair and conducted according to normal commercial practices, with no related transactions having occurred as of the commitment date[118]. - The company has established a commitment to prioritize the development and production rights of new technologies and products related to its operations[121]. - The company has an independent financial accounting department and management system to ensure financial independence and decision-making[121]. - The company has committed to ensuring that all provided information is consistent with original documents and that all signatures are authentic[123]. Subsidiaries and Investments - The company sold its stake in Beijing Apis Biotechnology Co., Ltd., generating a disposal gain of ¥3,404,889.42[101]. - Desai System, a subsidiary, achieved revenue of ¥42,830,901.93 and a net profit of ¥3,877,252.80 during the reporting period[100]. - Xiamen Guotuo, another subsidiary, reported revenue of ¥50,173,811.90 and a net profit of ¥15,597,968.90[101]. - The company received a total cash dividend of 40 million yuan from its subsidiary, Desai System, with 28 million yuan already received by June 2020[153]. - The company is exploring market expansion opportunities through potential mergers and acquisitions[153].

Financial Performance - Total revenue for Q1 2020 was ¥55,831,860.18, a decrease of 52.21% compared to ¥116,815,701.84 in the same period last year[7] - Net profit attributable to shareholders was -¥15,472,904.88, representing a decline of 360.58% from ¥5,937,865.25 in the previous year[7] - The total profit for the period was -13.67 million yuan, a decline of 218.12% year-on-year, with net profit attributable to shareholders at -15.47 million yuan, down 360.58% compared to the previous year[20] - The net profit for Q1 2020 was a loss of CNY 13,543,999.31, compared to a profit of CNY 9,487,175.22 in the same period last year[57] - The net profit for the first quarter was a loss of CNY 15,219,239.17, compared to a loss of CNY 2,867,164.14 in the same period last year[61] Cash Flow - The net cash flow from operating activities was -¥8,407,421.89, down 119.56% from ¥42,973,492.25 in the same period last year[7] - The cash flow from operating activities was -8.41 million yuan, a decline of 119.56% year-on-year, mainly due to decreased revenue[18] - The net cash flow from operating activities was CNY -8,407,421.89, a decline from CNY 42,973,492.25 in the previous year[65] - The net cash flow from operating activities was -$15,679,882.64, a significant decrease from $35,044,140.46 in the previous period, indicating a decline of approximately 144.8%[68] - Total cash inflow from operating activities was $35,362,195.66, down 70.2% from $118,616,524.67 in the prior period[68] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,701,264,375.49, a decrease of 0.75% from ¥1,714,157,129.69 at the end of the previous year[7] - The total assets reached 1,701.26 million yuan, a decrease of 0.75% from the beginning of the year, while equity attributable to shareholders was 1,301.33 million yuan, down 1.18%[20] - The company's total liabilities were RMB 264,826,464.20, slightly up from RMB 264,175,219.09 at the end of 2019[49] - The company's total liabilities were CNY 242,467,499.87, an increase from CNY 236,931,054.51 in the previous period[53] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,828[10] - The largest shareholder, Guangzhou High-tech Zone Technology Holdings Group Co., Ltd., held 29.91% of shares, totaling 125,920,000 shares[10] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[11] Research and Development - The company has 45 projects in the development stage for chemiluminescent reagents and 21 projects for biochemical diagnostic reagents as of the end of the reporting period[25] - The company registered 100 medical device product registration applications, including 6 new product registrations[25] - The company reported a significant increase in research and development expenses, totaling CNY 11,195,543.31 compared to CNY 12,368,727.96 in the previous period[56] - The company is committed to increasing its R&D efforts for new products and technologies to meet the growing demands of medical institutions and maintain its competitive edge[32] Market and Competition - The external diagnostic industry is experiencing intensified competition, with international companies dominating the high-end market, which may impact the company's market share and growth if it fails to diversify its product offerings[30] - The company is closely monitoring industry policy changes and market trends to mitigate risks associated with regulatory reforms in the healthcare sector[29] Corporate Governance and Strategy - The company is enhancing its governance and management levels, focusing on unified planning and resource allocation across its subsidiaries while ensuring independent operations[28] - The company is adopting a combined growth strategy of organic and external development, focusing on thorough due diligence to mitigate risks associated with investments and acquisitions[35] - The company is enhancing its management of accounts receivable to reduce the risk of bad debts, which currently represent a significant portion of its current assets[36] COVID-19 Impact - The company reported non-operating income and expenses of -¥553,366.32, primarily due to donations made to combat COVID-19[8] - The COVID-19 pandemic has significantly impacted the company's operations, and its future performance will depend on the progression of pandemic control measures[37] - The company is actively promoting COVID-19 related diagnostic indicators to address challenges in marketing due to the pandemic[26] - The company donated RMB 1 million to support anti-epidemic efforts in Hubei Province, fulfilling its corporate social responsibility[39] New Ventures - The company established Anhui Limar Medical Equipment Co., Ltd. with a registered capital of RMB 5.1 million, holding 51% equity, to expand the in-vitro diagnostic product market in Anhui[38] - The company also set up Henan Deyue Biotechnology Co., Ltd. with a registered capital of RMB 5.1 million, holding 80% equity, to penetrate the in-vitro diagnostic product market in Henan[38] - Beijing Apis Biotechnology Co., Ltd. was founded with a registered capital of RMB 2 million, with the company owning 100% equity, although it has not commenced operations yet[39]

Financial Performance - The company reported a significant increase in revenue, with a total of 417,798,335 shares, and a cash dividend of 0.1 yuan per 10 shares distributed to all shareholders [10]. - The company's operating revenue for 2019 was ¥515,143,483.47, a decrease of 21.33% compared to ¥654,804,224.40 in 2018 [23]. - The net profit attributable to shareholders for 2019 was ¥6,309,184.34, down 84.41% from ¥40,471,724.96 in 2018 [23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥5,483,348.91, a decline of 84.79% from ¥36,040,882.58 in 2018 [23]. - The net cash flow from operating activities increased by 53.85% to ¥124,648,403.19 in 2019, compared to ¥81,020,993.61 in 2018 [23]. - The total assets at the end of 2019 were ¥1,714,157,129.69, a slight decrease of 0.87% from ¥1,729,238,000.78 at the end of 2018 [23]. - The net assets attributable to shareholders at the end of 2019 were ¥1,316,803,218.91, an increase of 0.48% from ¥1,310,494,034.57 at the end of 2018 [23]. - The basic earnings per share for 2019 was ¥0.0157, down 83.71% from ¥0.0964 in 2018 [23]. - The diluted earnings per share for 2019 was also ¥0.0157, a decrease of 83.66% from ¥0.0961 in 2018 [23]. - The weighted average return on equity for 2019 was 0.48%, down from 3.07% in 2018 [23]. - The company reported a net profit of -¥4,456,544.95 in Q4 2019, contrasting with positive profits in the first three quarters [25]. - The company reported a total non-operating income of 825,835.43 in 2019, a significant decrease from 4,430,842.38 in 2018, representing a decline of approximately 81.4% [29]. - The company has received government subsidies amounting to 2,544,488.86 in 2019, down from 6,574,611.64 in 2018, indicating a reduction of about 61.4% [29]. Market and Competitive Landscape - The company faces intensified market competition, particularly from international firms dominating the high-end market, which may impact its market share and growth rate if it fails to diversify and enhance its product offerings [8]. - The in vitro diagnostic industry in China is in a rapid growth phase, driven by economic development, increased disposable income, urbanization, aging population, and enhanced health awareness [42]. - The medical device market in China exceeded 530 billion yuan in 2018, with a projected compound annual growth rate significantly higher than GDP growth over the next decade [43]. - The government policies, such as the "13th Five-Year Plan" for medical reform, are expected to enhance the capabilities of grassroots hospitals, creating significant opportunities for domestic manufacturers [43]. Research and Development - The company emphasizes the importance of new product development and registration, highlighting the risk of not meeting market demands which could lead to lower sales and potential product obsolescence [5]. - The company is actively engaged in research and development to maintain its competitive edge in the in vitro diagnostics industry, despite the inherent risks of unsuccessful projects [5]. - The company emphasizes R&D investment and has established a comprehensive innovation system, continuously upgrading products to meet market demands [44]. - The company is focusing on three main R&D areas: in vitro diagnostic reagents, diagnostic instruments, and biochemical raw materials [90]. - The company has 46 projects in the development stage for chemiluminescent reagents and 16 new biochemical diagnostic reagent projects under development [64]. - The company is committed to accelerating the development and commercialization of new products, with several projects in various stages of clinical evaluation and registration [71]. - The company is leveraging its technological platform to diversify its product offerings in the biochemical diagnostic field, including the launch of new HbA1C testing kits [70]. Product Development and Regulatory Compliance - The company has submitted registration applications for multiple II class diagnostic reagent kits, including ACE, HCY, AMY, LAP, BMG, CRE, CysC, UA, GLU, Zn, CA, P, Mg, and Urea, all currently under review [94]. - The company is actively pursuing regulatory approvals for its products, indicating a commitment to compliance and quality assurance in its offerings [94]. - The company is focusing on expanding its product line with new diagnostic kits, which are essential for clinical laboratories and healthcare providers [94]. - The company has submitted registration applications for multiple II class quantitative detection reagent kits, including progesterone (P), insulin (INS), estradiol (E2), and others, which are currently under review [98]. - The ongoing development and submission of new products demonstrate the company's commitment to meeting the evolving needs of the healthcare market [95]. Financial Management and Investment - The company is committed to strengthening its credit policies and managing accounts receivable risks, as a high proportion of its current assets are tied up in receivables [10]. - The company reported a total investment amount for the reporting period was ¥91,814,021.96, a significant increase of 499.31% compared to the previous year [117]. - The company made a total investment of 91,814,021.96 CNY in various projects during the reporting period, with a focus on medical equipment and related sectors [120]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach, with a budget allocation of 200 million RMB for this purpose [164]. Corporate Governance and Compliance - The company has established a comprehensive corporate governance structure and shareholder rights protection system, adhering to relevant laws and regulations [198]. - The board of directors consists of 7 members, including 3 independent directors, ensuring rigorous decision-making and protection of shareholder interests [198]. - The company has committed to safeguarding the legitimate rights and interests of all shareholders, particularly minority shareholders, through legal oversight during shareholder meetings [198]. - The company has implemented a systematic internal supervision mechanism across all business lines to enhance risk control and compliance management [200]. - The company strictly follows the Shenzhen Stock Exchange's regulations for information disclosure, ensuring equal access to information for all shareholders [199]. Shareholder Returns and Dividend Policy - The company implemented a cash dividend policy, distributing at least 20% of the annual distributable profits as cash dividends [146]. - For the fiscal year 2019, the company distributed cash dividends of ¥4,177,983.35, equating to ¥0.1 per 10 shares [152]. - The total distributable profits for 2019 were reported at ¥434,386,257.19, with cash dividends accounting for 100% of the profit distribution [151]. - The cash dividend distribution mechanism includes public consultation with investors prior to decision-making [146]. - The company aims to maintain a continuous and stable return to investors, considering their opinions in the dividend policy [148].

北京利德曼生化股份有限公司 2019 年第三季度报告全文 北京利德曼生化股份有限公司 2019 年第三季度报告 2019-096 2019 年 10 月 1 北京利德曼生化股份有限公司 2019 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人林霖、主管会计工作负责人程洋及会计机构负责人(会计主管人员)程洋声明： 保证季度报告中财务报表的真实、准确、完整。 2 北京利德曼生化股份有限公司 2019 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 1,664,123,911.34 | 1,729,238,000.78 | | -3.77% | | 归属于上市公司股东的净资产（元） | ...

Revenue and Profitability - Total revenue for the reporting period was CNY 251,562,713.92, a decrease of 26.65% compared to the same period last year[25]. - Net profit attributable to shareholders was CNY 8,169,647.26, down 78.70% year-on-year[25]. - Net profit after deducting non-recurring gains and losses was CNY 6,816,361.58, a decline of 80.57% compared to the previous year[25]. - Basic earnings per share decreased to CNY 0.0196, down 78.49% from CNY 0.0911 in the same period last year[25]. - The company reported a significant increase in the proportion of revenue from biochemical diagnostic reagents, indicating a strong market demand for its products[6]. - Revenue from in vitro diagnostic reagents was 228.99 million yuan, a year-on-year decline of 24.73%, accounting for 92.96% of main business revenue[42]. - The company reported a significant reduction in operating costs, with a decrease of 33.15% in operating costs year-on-year[73]. - The company expects a significant decline in net profit for the year, projecting a range of ¥966.96 million to ¥1,116.96 million, a decrease of 81.73% to 84.19% compared to the previous year[99]. Business Operations and Strategy - The company plans to explore new operational models in response to the rapid development of centralized procurement and regional testing centers in the in vitro diagnostics industry[4]. - The company is committed to enhancing its talent management and retention strategies to support its business expansion and strategic development[9]. - The company is focusing on expanding its product marketing network and enhancing customer service[42]. - The company is committed to enhancing product quality management and has obtained multiple quality management system certifications, ensuring compliance with industry standards[55]. - The company is actively pursuing market expansion through the introduction of new products, including Low-Density Lipoprotein Cholesterol (LDL-C) and Apolipoprotein A1 (APOA1) testing kits, which are currently in the application stage[80]. Research and Development - The company increased its R&D investment to 9.48% of operating revenue, a year-on-year growth of 27.65%, focusing on various diagnostic fields[54]. - The company has 38 projects in the development stage for chemiluminescent reagents and 22 new projects for biochemical diagnostic reagents[56]. - The company is actively pursuing research and development of new diagnostic assays to meet clinical needs and improve patient outcomes[79]. - The company is committed to innovation in the field of in vitro diagnostics, as evidenced by its extensive pipeline of new test kits[78]. Risks and Challenges - The company faces risks related to the potential decline in performance due to the rapid market competition and the need for continuous innovation in technology and products[6]. - The company acknowledges the risk of goodwill impairment due to potential underperformance of acquired companies or changes in industry policies[5]. - The company faces risks from intensified industry competition and policy changes, prompting adjustments in sales channels and strategies[100]. Financial Position - Total assets at the end of the reporting period were CNY 1,681,081,537.92, a decrease of 2.78% from the end of the previous year[25]. - The company's total liabilities decreased to CNY 244,232,186.13 from CNY 291,802,317.60, indicating a reduction of approximately 16.3%[177]. - Cash and cash equivalents rose to CNY 278,030,379.84 from CNY 269,724,033.41, marking an increase of approximately 3.8%[174]. - Accounts receivable increased to CNY 299,049,996.53, accounting for 17.79% of total assets, up by 2.20% year-on-year, primarily due to commercial acceptance bills not being honored[87]. Compliance and Governance - The company has established a robust governance structure to maintain operational independence and compliance with regulations[114]. - The company guarantees that its business activities are conducted independently, without interference from controlling entities[114]. - The company has committed to avoiding competition with its controlling shareholders and ensuring fair pricing in related transactions[111]. - The company has not been subject to any administrative penalties in the last five years, except those unrelated to the securities market[118]. Market Outlook - The market for in vitro diagnostic products is expected to grow due to aging population and increasing health awareness[43]. - The company is strategically positioning itself for future growth by expanding its product portfolio and enhancing its technological capabilities[78].

Financial Performance - The company's operating revenue for 2018 was ¥654,804,224.40, representing a 13.69% increase compared to ¥575,978,026.74 in 2017[21]. - The net profit attributable to shareholders for 2018 decreased by 44.61% to ¥40,471,724.96 from ¥73,067,135.85 in 2017[21]. - The net profit after deducting non-recurring gains and losses was ¥36,040,882.58, down 46.93% from ¥67,916,480.52 in 2017[21]. - The net cash flow from operating activities was ¥81,020,993.61, a decrease of 33.02% compared to ¥120,965,206.99 in 2017[21]. - The total assets at the end of 2018 were ¥1,729,238,000.78, a decrease of 1.41% from ¥1,753,893,000.69 at the end of 2017[21]. - The basic earnings per share for 2018 was ¥0.10, down 41.18% from ¥0.17 in 2017[21]. - The diluted earnings per share for 2018 was ¥0.09, a decrease of 47.06% from ¥0.17 in 2017[21]. - The weighted average return on net assets was 3.07%, down 2.66% from 5.73% in 2017[21]. - The company achieved operating revenue of 654.80 million yuan, a year-on-year increase of 13.69%, while net profit attributable to shareholders was 40.47 million yuan, a decrease of 44.61% compared to the previous year[38]. - The revenue from in vitro diagnostic reagents was 571.37 million yuan, representing a year-on-year growth of 15.57% and accounting for 88.76% of main business revenue[38]. Research and Development - The company plans to enhance its research and development capabilities to meet the increasing demand for high-quality diagnostic instruments and reagents[6]. - The company's R&D investment accounted for 6.10% of total revenue, with a year-on-year increase of 9.28%[45]. - The number of R&D personnel increased to 115 in 2018, accounting for 20.91% of the total workforce[79]. - The company has 27 projects in the development stage for chemiluminescent reagents and 14 new biochemical diagnostic reagent projects[52]. - The company is actively expanding its product line with multiple new assay kits and quality control products under development[80]. Market Position and Strategy - The company is committed to accelerating the launch of new products and technologies to maintain its market position[6]. - The in vitro diagnostic market is expected to grow due to factors such as the aging population and increasing health awareness, with a projected annual growth rate of approximately 5%[40]. - The company is recognized as a leading brand in clinical biochemical testing in China, with its self-developed fully automated chemiluminescence immunoassay analyzers ranking among the top in a selection of excellent domestic medical devices[42]. - The company aims to focus on the development of new chemiluminescence products as a key strategy for future growth[111]. - The company plans to enhance R&D investment to improve product lines, particularly in the field of chemiluminescence, to capture market opportunities[112]. Risks and Challenges - The company faces risks related to policy changes in the healthcare sector, which may lead to price reductions in in vitro diagnostic products[4]. - The company acknowledges the risk of goodwill impairment due to potential underperformance of acquired entities[5]. - The company must address the need for high-quality talent to support its expanding business and strategic development[8]. - The company has increased its number of subsidiaries through acquisitions and investments, but faces risks related to integration and performance expectations[5]. Shareholder and Governance - The company does not plan to distribute cash dividends or issue bonus shares for the year[9]. - The company guarantees that cash dividends will not be less than 20% of the distributable profits for the year[123]. - The company has established a long-term and sustainable shareholder return plan, ensuring cash dividends remain a priority[124]. - The company’s board of directors has decided to retain undistributed profits for future allocation[134]. - The company has committed to avoiding any competition with listed companies and has strictly adhered to this commitment without any violations reported[138]. Product Development and Regulatory Compliance - The company has received regulatory approval for multiple diagnostic reagent kits, including the Aspartate Aminotransferase (AST) assay kit and the Glycated Hemoglobin (HbA1c) assay kit, with the latter's registration changed on July 16, 2022[84]. - The company is actively involved in the development of new technologies in the field of biochemical diagnostics, as evidenced by the range of products submitted for regulatory review[81]. - The company has maintained a consistent approach to product registration, with several kits showing no changes in their regulatory status since their approval[84]. - The company has received regulatory approval for multiple diagnostic kits, including CK-MB, PCT, MYO, hs-CRP, and CysC, all classified as Class II medical devices[91]. Financial Management - The net cash flow from investing activities decreased by 49.12%, mainly due to payments made for the registered capital of a joint venture as per contract[97]. - The net cash flow from financing activities decreased by 2233.41%, attributed to a reduction in loans compared to the previous year and repayment of due bank loans[97]. - The company recorded an asset impairment of CNY 29.44 million, representing 40.55% of the total[99]. - The company has a total external guarantee amount of 85 million yuan, with no actual guarantees occurring during the reporting period[164]. Environmental and Social Responsibility - The company achieved 100% compliance with pollutant discharge standards in 2018[175]. - The company has established a comprehensive environmental management system and has not experienced any environmental violations or complaints during the reporting period[176]. - The company promotes green development and has implemented measures for energy conservation and waste reduction[177]. - The company has conducted health checks for all employees and organized sports activities to enhance employee well-being[172].

Financial Performance - Total revenue for Q1 2019 was ¥116,815,701.84, a decrease of 31.91% compared to ¥171,566,362.27 in the same period last year[7] - Net profit attributable to shareholders was ¥5,937,865.25, down 67.65% from ¥18,354,315.84 year-on-year[7] - Basic and diluted earnings per share decreased by 65.00% to ¥0.014 from ¥0.04 in the same period last year[7] - The company's operating revenue for the first quarter of 2019 was 116.82 million yuan, a decrease of 31.91% compared to 171.57 million yuan in the same period last year[16] - The net profit attributable to shareholders was 5.94 million yuan, down 67.65% from the previous year's 18.36 million yuan[19] - Total operating revenue decreased to ¥116,815,701.84 from ¥171,566,362.27, a decline of approximately 32% year-over-year[52] - Net profit fell to ¥9,487,175.22 compared to ¥23,445,217.98 in the previous period, a decline of approximately 59.6%[54] - Operating profit decreased to ¥11,552,053.01 from ¥28,664,881.78, a decline of about 59.7%[54] Cash Flow - Net cash flow from operating activities increased by 435.20% to ¥42,973,492.25, compared to a negative cash flow of ¥12,820,152.99 in the previous year[7] - The net cash flow from operating activities for Q1 2019 was ¥42,973,492.25, a significant improvement compared to a net outflow of ¥12,820,152.99 in the same period last year[62] - Total cash inflow from operating activities was ¥203,448,047.91, while cash outflow was ¥160,474,555.66, resulting in a net cash inflow[62] - Cash and cash equivalents at the end of Q1 2019 amounted to ¥278,763,605.03, an increase from ¥242,251,714.30 at the end of the previous period[63] - The company experienced a net increase in cash and cash equivalents of ¥8,348,073.64 during the quarter, contrasting with a significant decrease of ¥61,864,760.88 in the previous year[63] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,684,786,823.02, a decrease of 2.57% from ¥1,729,238,000.78 at the end of the previous year[7] - The total assets decreased by 2.57% to 1.68 billion yuan, while the equity attributable to shareholders increased by 0.18% to 1.31 billion yuan[19] - Total liabilities decreased from CNY 291,802,317.60 to CNY 246,442,565.92, a decline of about 15.5%[45] - Current liabilities decreased from CNY 264,588,104.91 to CNY 219,783,637.22, a reduction of approximately 17%[45] - Owner's equity increased from CNY 1,437,435,683.18 to CNY 1,438,344,257.10, a slight increase of approximately 0.06%[46] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,520[10] - The largest shareholder, Guangzhou High-tech Zone Technology Holdings Group Co., Ltd., held 29.91% of shares, totaling 125,920,000 shares[10] - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[11] - The company has repurchased a total of 3,253,650 shares, accounting for 0.7727% of the total share capital, with a total expenditure of 19,369,745.68 yuan[35] Research and Development - The company launched 2 new research projects for chemiluminescent reagents and 4 for biochemical diagnostic reagents during the reporting period[23] - The company is committed to enhancing its R&D efforts and technology innovation to meet the evolving market demands in the in vitro diagnostics industry[30] - Research and development expenses increased to ¥12,368,727.96 from ¥9,677,029.04, an increase of approximately 27.5%[52] Risks and Challenges - The company is facing risks related to industry policy changes, which may lead to revenue decline if appropriate sales models are not adopted[27] - The company has identified risks associated with external investments and goodwill impairment, emphasizing the need for thorough evaluations of joint ventures[31] - The company plans to strengthen accounts receivable management to mitigate risks of bad debts due to extended payment cycles from downstream customers[32] Governance and Management - The board of directors was restructured in January 2019 to improve governance and internal control systems following a change in the controlling shareholder[26] - The company is actively seeking to recruit high-quality management and technical personnel to improve its operational capabilities[33] Other Financial Metrics - The company reported non-recurring gains and losses totaling ¥360,944.10 for the period[8] - The company reported an investment income of ¥4,020,534.46, with no prior period data available for comparison[52] - Tax expenses decreased to ¥2,085,843.48 from ¥5,233,937.47, a reduction of approximately 60%[54] - Other income decreased significantly to ¥458,215.48 from ¥2,438,596.60, a decline of about 81.2%[52] - The company has not undergone an audit for the Q1 2019 report, which may affect the reliability of the financial data presented[68]

Financial Performance - The company's operating revenue for 2018 was CNY 654.80 million, representing a 13.69% increase compared to CNY 575.98 million in 2017[21]. - The net profit attributable to shareholders for 2018 was CNY 40.47 million, a decrease of 44.61% from CNY 73.07 million in 2017[21]. - The net cash flow from operating activities decreased by 33.02% to CNY 81.02 million in 2018 from CNY 120.97 million in 2017[21]. - The basic earnings per share for 2018 was CNY 0.10, down 41.18% from CNY 0.17 in 2017[21]. - The total assets at the end of 2018 were CNY 1,729.24 million, a decrease of 1.41% from CNY 1,753.89 million at the end of 2017[21]. - The company reported a net profit of CNY -20.68 million in Q4 2018, contrasting with positive profits in the first three quarters[23]. - The company’s revenue from the third quarter was CNY 180.60 million, while the fourth quarter saw a significant drop to CNY 131.23 million[23]. - The company achieved a revenue of CNY 654.80 million in the reporting period, representing a year-on-year growth of 13.69%[50]. - The net profit attributable to shareholders was CNY 40.47 million, a decrease of 44.61% compared to the previous year[50]. - The total revenue for 2018 was CNY 654,804,224.40, representing a 13.69% increase from CNY 575,978,026.74 in 2017[65]. Revenue Sources - The sales revenue from in vitro diagnostic reagents accounted for 88.76% of the main business revenue in 2018, compared to 87.86% in 2017 and 89.57% in 2016[6]. - The company’s main business revenue primarily comes from biochemical diagnostic reagents, highlighting its focus on this segment[6]. - Revenue from in vitro diagnostic reagents was 571.37 million yuan, representing a year-on-year growth of 15.57%, accounting for 88.76% of the main business revenue[38]. - The diagnostic instrument revenue was CNY 48.44 million, down 6.71% year-on-year, making up 7.52% of total revenue[50]. - The biochemical raw materials business generated revenue of 23.92 million yuan, with a year-on-year increase of 46.21%, making up 3.72% of the main business revenue[38]. Research and Development - The company emphasizes the need for continuous R&D in new technologies and products to meet the increasing demands for testing projects and technologies in the in vitro diagnostic industry[6]. - The company invested 6.10% of its revenue in R&D, which increased by 9.28% year-on-year[45]. - The number of R&D personnel increased to 115 in 2018, accounting for 20.91% of the workforce[79]. - The company has maintained a consistent R&D investment strategy, with a gradual increase in absolute terms over the past three years[79]. - The company is actively pursuing innovation in medical devices, with multiple products currently in the application process[80]. Market and Industry Trends - The in vitro diagnostic market is expected to grow at a compound annual growth rate of approximately 5%, reaching 74.7 billion USD by 2020[40]. - The domestic IVD market size was approximately ¥760 billion in 2018, representing only 15% of the global IVD market, suggesting substantial growth opportunities[109]. - The company is recognized as one of the leading brands in clinical biochemical testing in China, with a strong focus on research and development of chemiluminescence immunoassay products[42]. Corporate Governance and Compliance - The company has established independent financial systems and ensures that all financial decisions are made independently, without interference from other controlled enterprises[139]. - The company guarantees that all related transactions with listed companies will be conducted fairly and in accordance with normal commercial practices, ensuring no harm to the interests of the listed company and its shareholders[139]. - The company has committed to avoiding any competition with listed companies and has strictly adhered to this commitment without any violations as of November 9, 2018[138]. - The company has established a long-term commitment to uphold all agreements and promises made in its financial dealings[142]. Shareholder Returns and Dividends - The company does not plan to distribute cash dividends or issue bonus shares for the year[9]. - The company maintains a cash dividend policy, distributing at least 20% of the distributable profits annually[123]. - The company distributed cash dividends of 0.30 CNY per 10 shares, totaling 12,714,157.05 CNY, which accounted for 30.26% of the distributable profit for the year[126]. - The company’s cash dividend distribution for 2018 was 0.00 CNY, reflecting a strategic decision to reinvest profits[137]. Risks and Challenges - The company faces risks related to the integration of downstream distribution channels through acquisitions, which may not meet expectations due to differences in management and operational philosophies[5]. - The company acknowledges the risk of goodwill impairment due to potential changes in industry policies and competition following major asset restructuring[5]. - The company has achieved partial localization of key raw materials for in vitro diagnostic reagents, but still relies on imports for some materials, exposing it to risks from international trade policies and exchange rate fluctuations[4]. Strategic Initiatives - The company plans to explore new operational models to maintain customer engagement due to the rapid development of new operational models such as centralized procurement and regional testing centers[4]. - The company aims to enhance its information security measures to protect its core technologies from potential leaks or theft[7]. - The company is actively expanding its product line and enhancing its marketing capabilities to meet the growing demand driven by aging population and increased health awareness[39]. - The company is focused on expanding its marketing channels and enhancing service quality to increase market share[58].