Financial Performance - Total revenue for the reporting period reached ¥218,709,503.59, representing a 32.44% increase compared to ¥165,132,855.77 in the same period last year[22] - Net profit attributable to shareholders was ¥103,940,262.61, up 32.02% from ¥78,730,064.47 year-on-year[22] - The net cash flow from operating activities increased by 12.73% to ¥83,310,857.99, compared to ¥73,905,603.31 in the previous year[22] - Basic earnings per share rose to ¥0.3573, reflecting a 31.99% increase from ¥0.2707 in the same period last year[22] - Operating profit reached 121.61 million yuan, an increase of 32.42% compared to the previous year[30] - The company achieved a revenue of 218.71 million yuan, representing a year-on-year growth of 32.44%[30] - The company reported a net profit attributable to shareholders for 2017 between RMB 180.88 million and RMB 193.80 million, representing a year-on-year growth of 40% to 50%[94] - For Q1 2018, the net profit attributable to shareholders is projected to be between RMB 47.76 million and RMB 55.40 million, indicating a year-on-year growth of 25% to 45%[94] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥891,041,645.90, a 5.04% increase from ¥848,311,200.92 at the end of the previous year[22] - The net assets attributable to shareholders increased by 4.91% to ¥840,560,844.06, compared to ¥801,257,929.88 at the end of the previous year[22] - Total current assets increased to ¥684,961,188.16 from ¥656,497,226.95, reflecting a growth of 4.5%[120] - Total liabilities rose to ¥50,480,801.84 from ¥47,053,271.04, an increase of 5.2%[121] - Owner's equity increased to ¥840,560,844.06 from ¥801,257,929.88, reflecting a growth of 4.9%[122] Cash Flow - Cash and cash equivalents increased by 298.68% to CNY 183.33 million, primarily due to the redemption of bank financial products[40] - The company reported a net cash inflow from investment activities of CNY 515,537,239.75, compared to CNY 379,372,780.14 in the previous year[136] - The net increase in cash and cash equivalents for the period was CNY 184,634,896.20, compared to a decrease of CNY -85,883,388.58 in the previous period[140] - Cash inflow from operating activities totaled CNY 212,983,559.20, compared to CNY 173,196,854.65 in the prior period, marking a growth of 23%[139] Investment and Development - The company has established a new subsidiary, Shanghai Iwu Stem Cell Technology Co., Ltd., with a registered capital of 150 million yuan, focusing on anti-aging and regenerative medicine[29] - The company is conducting clinical trials for five new allergen treatment products, including a Phase III trial for Artemisia annua powder drops[1] - Research and development expenses amounted to CNY 11.90 million, a slight decrease of 1.63% from the previous year[40] - The company has invested CNY 150 million in a new subsidiary focused on biopharmaceuticals[50] Market and Product Risks - The main product, "Dust Mite Drops," remains a significant revenue source, posing a risk due to product concentration[6] - The company faces risks in new drug development, including long cycles and high investment, which may affect future performance[7] - The company faces industry policy risks due to ongoing healthcare reforms, which may impact drug sales and production operations[66] - The trend of drug price reductions poses a risk to the company's performance, leading to potential sales abandonment in certain regions[67] Shareholder and Corporate Governance - The company plans to not distribute cash dividends or issue bonus shares[9] - The attendance rate for the 2017 annual general meeting was 54.03%[70] - The company has fulfilled its commitments regarding share transfer restrictions during the reporting period[72] - The company has made commitments to avoid competition and related transactions as detailed in its prospectus[73] Compliance and Reporting - The company’s financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and transparency in financial reporting[162] - The financial report for the half-year period was not audited[117] - The company has not experienced any bankruptcy reorganization-related matters during the reporting period[77] Future Outlook - The company plans to expand its market presence and invest in new product development in the upcoming quarters[146] - Future guidance suggests a cautious outlook, with expected revenue growth of approximately 10% in the next fiscal year[146]

Financial Performance - The total operating revenue for the reporting period reached ¥218,709,503.59, representing a 32.44% increase compared to ¥165,132,855.77 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥103,940,262.61, up 32.02% from ¥78,730,064.47 year-on-year[22]. - The net profit after deducting non-recurring gains and losses was ¥99,102,541.29, reflecting a 33.02% increase from ¥74,501,661.44 in the previous year[22]. - The basic earnings per share increased to ¥0.3573, a rise of 31.99% from ¥0.2707 in the same period last year[22]. - Operating profit reached 121.61 million yuan, reflecting a growth of 32.42% compared to the previous year[30]. - The company achieved operating revenue of 218.71 million yuan, a year-on-year increase of 32.44%[30]. - The total comprehensive income for the period was CNY 103,942,914.18, compared to CNY 78,719,694.31 in the previous year, indicating a growth of 32.0%[121]. Assets and Liabilities - The total assets at the end of the reporting period were ¥891,041,645.90, which is a 5.04% increase from ¥848,311,200.92 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company increased to ¥840,560,844.06, up 4.91% from ¥801,257,929.88 at the end of the previous year[22]. - Total liabilities increased to ¥50,480,801.84 from ¥47,053,271.04, which is a rise of 5.2%[112]. - The company’s total assets included CNY 369.14 million in cash, representing 41.43% of total assets, an increase from 21.90% in the previous year[46]. Investment and R&D - The company is engaged in the development of new drugs for allergic diseases, which involves long and costly processes with unpredictable factors[8]. - The company is conducting clinical trials for five new allergen treatment products, including a Phase III trial for Artemisia annua powder drops[1]. - Research and development expenses amounted to CNY 11.90 million, a slight decrease of 1.63% from the previous year[40]. - The company is committed to continuous R&D investment and technology accumulation to maintain its competitive edge in the pharmaceutical industry[32]. Market and Product Development - The company’s main product, the dust mite drop, is the only standardized sublingual desensitization drug available in China, with a leading market share since 2012[32]. - The company has established a new subsidiary, Shanghai Iwu Stem Cell Technology Co., Ltd., with a registered capital of 150 million yuan, focusing on anti-aging and regenerative medicine[30]. - The company’s products are now available in over 30 provinces, cities, and autonomous regions across China, expanding its patient base significantly[30]. - The marketing strategy includes academic promotion and a professional academic marketing team to enhance product awareness among doctors and patients[34]. Risks and Challenges - The company faces risks related to high product gross margins and concentration on leading products, which may affect sustained performance growth[6]. - The company anticipates potential risks in the pharmaceutical industry due to ongoing policy reforms and price reductions, which may impact sales performance[56]. - The main product, "Dust Mite Drops," constitutes a significant portion of revenue, indicating a risk of revenue concentration[58]. - The company is actively pursuing new drug development, which involves lengthy and costly processes, presenting various risks[58]. Shareholder and Equity Information - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[9]. - The company did not distribute cash dividends or issue new shares during the half-year period[62]. - The total number of common shareholders at the end of the reporting period was 9,998[94]. - Zhejiang WoWu Management Consulting Co., Ltd. holds 38.86% of shares, totaling 113,030,073 shares, with 26,262,000 shares pledged[94]. Compliance and Governance - The half-year financial report has not been audited[67]. - The company has made commitments to ensure the accuracy and completeness of the prospectus, with penalties for any violations[66]. - The company has not reported any violations of commitments related to stock price stabilization plans[66]. - The company has not experienced any violations of commitments regarding related party transactions and capital occupation[65]. Future Outlook - Future guidance indicates a cautious outlook due to market volatility but aims for steady growth in revenue and profitability[138]. - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[138]. - The management highlighted the importance of innovation in product development to maintain competitive advantage in the biotechnology sector[138].

Financial Performance - Total revenue for Q1 2018 reached ¥106,934,012.73, representing a 31.86% increase compared to ¥81,099,600.17 in the same period last year[9] - Net profit attributable to shareholders was ¥51,954,370.06, up 35.98% from ¥38,207,667.31 year-on-year[9] - Basic earnings per share rose to ¥0.32, reflecting a 33.33% increase from ¥0.24 in the same quarter last year[9] - The company's operating revenue for the reporting period reached CNY 106,934,012.73, an increase of 31.86% compared to the same period last year[24] - The net profit attributable to shareholders of the listed company was CNY 51,954,370.06, reflecting a growth of 35.98% year-on-year[24] - The company reported a total profit of ¥61,152,518.92, up from ¥45,135,230.51, which is a growth of about 35.5% year-over-year[44] - The comprehensive income for the quarter was ¥51,941,157.54, compared to ¥38,205,045.61 in the previous year, indicating a growth of approximately 36%[45] Cash Flow and Liquidity - Net cash flow from operating activities increased by 48.83% to ¥57,417,598.08, compared to ¥38,578,340.29 in the previous year[9] - Cash and cash equivalents increased by CNY 96,987,816.69, a significant rise of 762.95% compared to the previous year, primarily due to increased cash from sales and the redemption of bank financial products[23] - The company's monetary funds at the end of the reporting period increased by CNY 84,275,537.55, up 45.35% from the beginning of the year, mainly due to the redemption of bank financial products[21] - The cash inflow from operating activities totaled CNY 112,178,784.29, an increase of 29.3% compared to CNY 86,722,895.10 in the previous period[51] - The cash inflow from sales of goods and services was CNY 111,284,662.25, up from CNY 85,879,072.93, marking a growth of 29.3%[51] - The company experienced a net increase in cash and cash equivalents of CNY 84,275,537.55, contrasting with a decrease of CNY 12,712,279.14 in the previous year[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥903,274,521.54, a 6.48% increase from ¥848,311,200.92 at the end of the previous year[9] - The total current liabilities increased to CNY 45,222,234.12 from CNY 42,200,071.04, which is an increase of about 7.2%[37] - The total liabilities increased to ¥49,313,624.72 from ¥47,252,091.52, indicating a growth of approximately 4%[44] - The total equity attributable to the owners of the parent company reached CNY 853,199,087.42, up from CNY 801,257,929.88, marking an increase of approximately 6.5%[38] Risks and Challenges - The company faces industry policy risks due to ongoing healthcare reforms, which may impact drug sales and production operations[11] - Price reduction risks from bidding processes are a concern, potentially affecting the company's long-term sales strategy[11] Product Development and Market Strategy - The company is focused on expanding its product line and has several products in clinical trials, although the concentration on a few main products poses risks[12] - The company plans to leverage its academic marketing team to enhance product promotion, capitalizing on the growing demand in the desensitization treatment market[24] - The company is in the III phase of clinical trials for the Artemisia annua powder drops, aimed at treating allergic rhinitis and asthma caused by Artemisia pollen allergies, which will enhance product lines and market competitiveness[25] - The company has received approval for the clinical trial of the dust mite skin prick diagnostic kit, which will assist in diagnosing type I hypersensitivity diseases caused by dust mites, thereby enriching the product line and improving market competitiveness[26] - The company is conducting II phase clinical trials for the dust mite compound, which targets allergic rhinitis and asthma, aiming to enhance its product offerings and market position[25] - The company has received clinical trial approval for nine related prick test products, which will meet the allergen detection needs of more patients with allergic diseases[26] - The company is in the preclinical research phase for a silk protein moisturizing and anti-itch dressing, aimed at treating dry skin itching, which will diversify its product offerings[25] Shareholder Information - The top shareholder, Zhejiang Wo Wu Management Consulting Co., Ltd., holds 38.86% of the shares, indicating significant ownership concentration[14] - The company distributed cash dividends of RMB 4.00 per 10 shares, totaling RMB 64.64 million, and increased its share capital by 129.28 million shares through capital reserves, raising total shares to 290.88 million[29] - The company has not adjusted its cash dividend policy during the reporting period, ensuring the protection of minority shareholders' rights[29] Supplier and Customer Concentration - The top five suppliers accounted for 56.31% of total purchases in the current reporting period, up from 48.59% in the same period last year, indicating increased supplier concentration[27] - The top five customers contributed 51.20% of total sales in the current reporting period, down from 58.25% in the previous year, reflecting a decrease in customer concentration[27] Miscellaneous - The company has not reported any significant signed orders or progress during the reporting period[24] - The company has not made significant changes to its intangible assets or core technology team during the reporting period[26] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[31] - There were no violations regarding external guarantees during the reporting period[30] - The company did not conduct an audit for the first quarter report[56]

Financial Performance - The company's operating revenue for 2017 was CNY 385,576,841.66, representing a 23.55% increase compared to CNY 312,085,773.20 in 2016[18]. - The net profit attributable to shareholders for 2017 was CNY 186,103,945.40, a 44.04% increase from CNY 129,200,974.47 in 2016[18]. - The net cash flow from operating activities was CNY 159,134,139.23, up 29.62% from CNY 122,772,455.90 in 2016[18]. - Basic earnings per share for 2017 were CNY 1.15, a 43.75% increase from CNY 0.80 in 2016[18]. - Total assets at the end of 2017 were CNY 848,311,200.92, reflecting a 21.73% increase from CNY 696,894,623.78 at the end of 2016[18]. - The net assets attributable to shareholders increased by 22.22% to CNY 801,257,929.88 at the end of 2017 from CNY 655,576,730.37 at the end of 2016[18]. - The company reported a weighted average return on equity of 25.55% for 2017, up from 21.02% in 2016[18]. - The fourth quarter revenue was CNY 91,954,461.52, with a net profit of CNY 37,615,425.63 attributable to shareholders[20]. Research and Development - The company invested 24.19 million yuan in R&D, accounting for 6.27% of operating revenue[30]. - The company holds 12 valid domestic invention patents and has applied for 4 additional domestic invention patents[30]. - Research and development expenses increased by 35.60% to CNY 241.85 million, driven by projects like the "Artemisia annua powder drops"[34]. - The "Artemisia annua powder drops" completed Phase II clinical trials and is progressing well into Phase III trials[34]. - The company is preparing for clinical trials for nine new products related to allergen testing, enhancing its product line and market competitiveness[36]. Market and Sales - The sales network has expanded to cover over 30 provinces, cities, and autonomous regions in China[26]. - The company’s main product, the dust mite drop, maintains the highest market share in the dust mite desensitization drug market since 2012[29]. - The company’s revenue from the southern region increased by 30.33% to CNY 153.06 million[41]. - Sales volume of dust mite drops increased by 23.95% year-on-year, totaling 4,298,187 units sold[45]. - The total revenue from the pharmaceutical manufacturing segment was CNY 381.91 million, accounting for 99.05% of total revenue[41]. Investment and Financial Management - The company invested CNY 13 million in Shanghai Kaiyi Pharmaceutical Technology Co., holding a 19.9% stake to develop a new bronchodilator[34]. - The company reported a net decrease in cash and cash equivalents of ¥49,659,708.16, a decline of 36.68% year-on-year[54]. - The company’s total cash flow from investment activities was negative ¥168,360,243.36, a decline of 64.14% compared to the previous year[54]. - The company has a remaining balance of ¥23,340,373.30 in its fundraising special account as of December 31, 2017, including bank interest[64]. - The company reported a total of 285.96 million yuan in raised funds, which will be permanently supplemented to working capital after terminating the "Marketing Network Expansion and Information Technology Construction Project" due to slower-than-expected progress[67]. Shareholder and Governance - The company plans to distribute a cash dividend of CNY 4.00 per 10 shares, with a capital reserve conversion of 8 shares for every 10 shares held[6]. - The company reported a cash dividend of RMB 4.00 per 10 shares, totaling RMB 64,640,000, based on a total share capital of 161,600,000 shares as of December 31, 2017[85]. - The company has a policy in place to limit the transfer of shares by major shareholders during their tenure, with specific percentages outlined[88]. - The company is focused on maintaining shareholder confidence through strict adherence to shareholding commitments and dividend policies[88]. - The company’s management will increase their stock holdings within 90 days after the controlling shareholder's stock purchase plan is completed[93]. Risks and Challenges - The company has identified risks related to industry policies, bidding price reductions, and product concentration, which are discussed in detail in the report[6]. - The company faces risks from industry policy changes, including public hospital reforms and drug procurement models, which may impact sales and production operations[74]. - The company acknowledges the risk of price reductions due to bidding and cost control measures, which may lead to the abandonment of sales in certain regions to maintain price stability[75]. - The company recognizes the long and uncertain development cycle of new drugs, which includes multiple stages from preclinical research to market approval, posing various risks[76]. Internal Control and Compliance - The company has established a comprehensive internal control system, with no major or important deficiencies reported in financial or non-financial reporting[174]. - The company’s financial statements received a standard unqualified audit opinion from Ernst & Young Huaming, reflecting fair presentation in accordance with accounting standards[179]. - The company strictly follows information disclosure regulations, ensuring timely and accurate communication with investors[161]. - The company has implemented a transparent performance evaluation and incentive mechanism for senior management, ensuring compliance with legal standards[160]. Employee and Management Structure - The total number of employees in the company is 718, with 491 in the parent company and 227 in major subsidiaries[149]. - The company has established a comprehensive training management mechanism to enhance employee skills and career development, conducting various training programs including onboarding and job training[152]. - The company’s management team includes professionals with backgrounds in research, engineering, and finance, enhancing its operational capabilities[141][142]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounts to 369.66 million CNY[148].

Financial Performance - Revenue for the reporting period was CNY 128,489,524.37, representing a 22.31% increase year-on-year[9] - Net profit attributable to shareholders increased by 43.98% to CNY 69,758,455.30 compared to the same period last year[9] - Basic earnings per share rose by 44.00% to CNY 0.4317[9] - The weighted average return on net assets increased by 1.56% to 9.57% for the reporting period[9] - The net profit for the third quarter of 2017 reached CNY 69,758,455.30, compared to CNY 48,449,776.71 in the previous year, marking an increase of about 43.9%[38] - The total profit for the third quarter was CNY 82,235,953.24, compared to CNY 58,657,805.13 in the previous year, which is an increase of approximately 40.2%[38] - The basic and diluted earnings per share for the third quarter were both CNY 0.4317, up from CNY 0.2998 in the same period last year, representing an increase of about 43.9%[39] - The total comprehensive income for the third quarter was CNY 69,751,334.64, compared to CNY 48,452,272.35 in the previous year, reflecting an increase of approximately 43.9%[39] - The net profit for Q3 2017 reached CNY 148,488,519.77, representing a growth of 44.8% from CNY 102,579,185.40 in Q3 2016[47] - The total profit for Q3 2017 was CNY 175,080,072.00, which is a 43.0% increase compared to CNY 122,377,072.95 in Q3 2016[46] Assets and Liabilities - Total assets increased by 15.64% to CNY 805,912,927.01 compared to the end of the previous year[9] - The total liabilities increased to CNY 42,265,167.69 from CNY 41,317,893.41, indicating a rise of 2.3%[31] - Accounts receivable increased by 44,375,819.90 yuan, up 57.79%, due to increased sales revenue and corresponding credit sales[17] - Inventory rose by 6,368,587.74 yuan, up 45.36%, attributed to expanded sales scale and increased inventory reserves[17] - Cash and cash equivalents decreased to CNY 165,407,344.64 from CNY 222,835,118.91, a decline of 26%[33] - Cash and cash equivalents at the end of the period were CNY 165,407,344.64, down from CNY 221,171,518.96 at the end of the same period last year, a decrease of 25.2%[56] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 118,117,953.32, up 29.64%[9] - Net cash flow from operating activities increased by 27,008,741.35 yuan, up 29.64%, primarily due to higher cash received from sales[20] - The cash flow from operating activities for Q3 2017 was CNY 118,117,953.32, an increase of 29.7% from CNY 91,109,211.97 in the same quarter last year[53] - The total cash inflow from operating activities was CNY 273,506,577.59, an increase of 20.5% from CNY 226,867,082.76 in Q3 2016[53] - Operating cash flow net amount for the third quarter was CNY 120,053,866.53, an increase of 29.3% compared to CNY 92,813,009.90 in the same period last year[55] - Total cash inflow from investment activities was CNY 646,649,177.99, significantly higher than CNY 272,956,561.89 in the previous year, marking an increase of 137.5%[55] - Cash outflow from investment activities totaled CNY 783,723,028.24, compared to CNY 351,637,520.25 in the same period last year, representing an increase of 123.3%[55] - The net cash flow from investment activities was -CNY 137,073,850.25, worsening from -CNY 78,680,958.36 year-over-year[55] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,360[13] - The largest shareholder, Zhejiang Wowo Management Consulting Co., Ltd., held 38.86% of the shares[13] Other Financial Metrics - The company reported non-recurring gains and losses totaling CNY 6,535,667.36 for the year-to-date[10] - Development expenses increased by 11,463,391.57 yuan, up 36.27%, due to ongoing R&D investments in projects like Artemisia annua extract[17] - Other income increased by 1,870,599.22 yuan, a rise of 397.78%, primarily due to increased government subsidies received[19] - Investment income increased by 3,469,208.91 yuan, a growth of 169.46%, mainly from increased purchases of bank wealth management products[19] - The asset impairment loss for the third quarter was CNY 2,025,845.05, compared to CNY 1,696,376.82 in the previous year, indicating an increase of about 19.4%[38] - The investment income for the third quarter was CNY 2,473,546.13, significantly higher than CNY 264,904.11 in the previous year, marking an increase of approximately 834.5%[38] Reporting and Audit - The company did not conduct an audit for the third quarter report[57] - The report was released on October 26, 2017, by the legal representative Hu Gengxi[58]

Financial Performance - Total revenue for the first half of 2017 reached ¥165,132,855.77, representing a 23.77% increase compared to ¥133,415,557.05 in the same period last year[22]. - Net profit attributable to shareholders was ¥78,730,064.47, a 45.45% increase from ¥54,129,408.69 year-on-year[22]. - The net profit after deducting non-recurring gains and losses was ¥74,501,661.44, up 41.68% from ¥52,583,687.14 in the previous year[22]. - Basic earnings per share increased to ¥0.4872, a rise of 45.43% compared to ¥0.3350 in the same period last year[22]. - Operating profit reached 90.92 million yuan, an increase of 42.77% compared to the previous year[29]. - Cash flow from operating activities was CNY 73.91 million, up 23.60% from the previous year[40]. - The gross profit margin for the pharmaceutical manufacturing segment was 96.96%, with a slight increase of 1.46% year-on-year[42]. Assets and Liabilities - Total assets at the end of the reporting period were ¥728,567,765.19, reflecting a 4.54% increase from ¥696,894,623.78 at the end of the previous year[22]. - Total liabilities decreased from ¥41,317,893.41 to ¥34,671,340.51, representing a reduction of approximately 16.1%[129]. - The company's equity attributable to shareholders increased from ¥655,576,730.37 to ¥693,896,424.68, reflecting a growth of about 5.8%[130]. - Cash and cash equivalents at the end of the period were CNY 143,204,307.68, down from CNY 235,232,592.03, a decrease of 39.14%[143]. Research and Development - Research and development expenditure totaled 12.09 million yuan, accounting for 7.32% of operating revenue[34]. - Research and development expenses increased by 57.95% to CNY 12.09 million, primarily due to increased clinical trial investments for the "Artemisia pollen drop" project[40]. - The company holds 12 valid domestic invention patents and has applied for 4 additional domestic invention patents[34]. - The company is currently conducting several clinical trials, including the "Artemisia pollen drop" in Phase III and "Dust mite compound" in Phase II[37]. Market and Product Development - The main product, "Dust Mite Drops," remains a significant revenue source, indicating a risk due to product concentration[7]. - The company has expanded its product coverage to over 30 provinces, cities, and autonomous regions in China, successfully winning bids in most provincial medical institutions[29]. - The company is expanding its product line to include various products for allergic diseases, enhancing its market competitiveness[38]. - New product development is underway, with plans to launch two innovative products by Q4 2017, aimed at expanding the product line and enhancing market competitiveness[80]. Investment and Financing - The company invested CNY 13 million in Shanghai Kaiyi Pharmaceutical Technology Co., holding a 19.9% stake, to develop a new bronchodilator for asthma and COPD patients[38]. - The total amount of funds raised is RMB 19,238.41 million, with RMB 918.88 million utilized during the reporting period[50]. - The company has invested RMB 4,525.57 million in the annual production of 3 million dust mite drops technology transformation project, totaling RMB 51,019.63 million cumulatively[53]. - The company reported a principal amount of 4,500 million with the Bank of Communications, generating a return of 39.16 million[60]. Corporate Governance and Compliance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The management team has remained stable, enhancing operational efficiency and reducing costs through improved internal management processes[34]. - The company has committed to ensuring the accuracy and completeness of its prospectus, with legal obligations to protect investors[78]. - The company has not experienced any violations of its commitments regarding stock reduction and related party transactions[75]. Future Outlook - Future guidance estimates a revenue target of 1.2 billion RMB for the full year 2017, reflecting a growth of 20% year-on-year[73]. - The company provided a positive outlook for the second half of 2017, projecting a revenue growth of 20% to 30% based on current market trends and user acquisition strategies[80]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 200 million RMB allocated for this purpose[74]. User and Market Data - User data indicated a total of 1 million active users, with a growth rate of 15% over the last six months[74]. - User data showed a total of 1.5 million active users, representing a 15% increase compared to the previous period[175].

Financial Performance - Total revenue for Q1 2017 was CNY 81,099,600.17, an increase of 17.34% compared to CNY 69,117,267.53 in the same period last year[9]. - Net profit attributable to shareholders was CNY 38,207,667.31, representing a growth of 34.17% from CNY 28,476,602.46 year-on-year[9]. - The net profit after deducting non-recurring gains and losses was CNY 36,874,651.44, up 33.34% from CNY 27,653,966.60 in the previous year[9]. - Basic earnings per share increased to CNY 0.24, a rise of 33.33% compared to CNY 0.18 in the same period last year[9]. - The company achieved operating revenue of RMB 81,099,600.17, representing a year-on-year growth of 17.34%[25]. - The net profit attributable to ordinary shareholders was RMB 38,207,667.31, an increase of 34.17% compared to the same period last year[25]. - The company reported a total comprehensive income for the period of ¥38,761,766.12, compared to ¥28,476,849.38 in the previous year[61]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 728,835,886.98, reflecting a 4.58% increase from CNY 696,894,623.78 at the end of the previous year[9]. - Total assets as of the end of Q1 2017 amounted to CNY 729,134,883.59, up from CNY 696,446,646.21 at the beginning of the period[52]. - Total liabilities decreased to CNY 34,180,481.64 from CNY 40,254,010.38, indicating a reduction of about 15.5%[53]. - The total equity attributable to shareholders increased to CNY 694,954,401.95 from CNY 656,192,635.83, representing a growth of about 5.9%[53]. Cash Flow - The net cash flow from operating activities increased by RMB 5,063,681.21, a growth of 15.11% due to higher cash receipts from sales[24]. - The cash flow from operating activities was ¥38,578,340.29, an increase from ¥33,514,659.08 in the previous year[64]. - The total cash inflow from operating activities was ¥86,692,747.00, an increase from ¥77,109,450.48, reflecting a growth of about 12.5%[66]. - Cash outflow for operating activities was ¥47,371,238.48, up from ¥43,609,507.39, indicating an increase of approximately 8.7%[66]. Inventory and Receivables - Accounts receivable increased by RMB 15,806,195.74, up 20.58%, mainly due to increased sales revenue[22]. - Inventory rose by RMB 3,082,330.55, a 21.95% increase, attributed to expanded sales scale[22]. - The company's inventory increased to CNY 17,111,729.80 from CNY 14,029,399.25, reflecting a growth of approximately 21.5%[51]. Market and Product Risks - The company faces industry policy risks due to ongoing healthcare reforms, which may impact drug sales and production operations[11]. - The company is adapting to price reduction risks in the pharmaceutical industry by enhancing hospital coverage and controlling costs[12]. - The company acknowledges risks associated with high product gross margins and the concentration of revenue from its main product, "Dust Mite Drops"[13]. - The company is focused on new drug development, which involves long cycles and significant investment, posing various risks to its operations[13]. Shareholder and Stock Management - The company completed the transfer of 20,931,494 shares, representing 12.95% of total share capital, to a new shareholder, maintaining its control structure[28]. - The company disclosed that 87,162,257 shares, or 53.94% of total shares, were eligible for public trading following the lifting of restrictions[28]. - The company reported a lock-up period for shareholders of 36 months from the date of listing, during which they cannot transfer or manage their shares[31]. - Shareholders are allowed to transfer up to 25% of their total shares each year after the lock-up period ends[31]. - The company has committed to not repurchase shares held by shareholders during the lock-up period[31]. - The company has established a clear policy on the transfer of shares by its executives and major shareholders[31]. Fundraising and Investment - Total fundraising amount reached CNY 192.38 million, with CNY 8.24 million invested cumulatively by the end of the reporting period[39]. - The total amount of fundraising used in this quarter was CNY 8.05 million, with no changes in the purpose of the fundraising[39]. - The cumulative amount of fundraising used for projects was CNY 82.36 million, representing 0.00% of the total fundraising amount[39]. - The company has not changed the purpose of the fundraising, maintaining compliance with its commitments[39]. Compliance and Commitments - The company has not faced any penalties or losses related to social insurance or housing fund contributions during the reporting period[36]. - The company is committed to ensuring the accuracy and completeness of its prospectus and will withhold cash dividends if commitments are violated[36]. - The company has not violated any commitments regarding stock price stabilization during the reporting period[34]. - The company has established a plan to manage related party transactions and ensure compliance with commitments[34].

Financial Performance - The company's operating revenue for 2016 was CNY 312,085,773.20, representing a 16.84% increase compared to CNY 267,105,585.86 in 2015[17]. - The net profit attributable to shareholders for 2016 was CNY 129,200,974.47, which is a 9.66% increase from CNY 117,820,024.51 in the previous year[17]. - The net cash flow from operating activities was CNY 122,772,455.90, up by 6.93% from CNY 114,820,239.21 in 2015[17]. - The basic earnings per share for 2016 was CNY 0.80, reflecting a 9.59% increase from CNY 0.73 in 2015[17]. - Total assets at the end of 2016 reached CNY 696,894,623.78, a 13.97% increase from CNY 611,487,548.18 in 2015[17]. - The net assets attributable to shareholders increased by 12.47% to CNY 655,576,730.37 from CNY 582,913,454.64 in 2015[17]. - Operating profit reached CNY 155,965,903.62, an increase of 16.29% compared to the previous year[25]. - The weighted average return on equity for 2016 was 21.02%, slightly down from 21.98% in 2015[17]. Research and Development - The company invested CNY 17,836,400 in R&D, accounting for 5.72% of operating revenue, with CNY 8,599,000 capitalized[30]. - The company has 12 valid domestic invention patents and is applying for 4 additional domestic invention patents[30]. - The company aims to enhance its comprehensive R&D capabilities in the pharmaceutical sector, focusing on developing new products for allergic diseases[70]. - The company is currently conducting clinical trials for several new products, including the Artemisia annua powder drop and dust mite compound, both in Phase II trials, aimed at treating allergic conditions[34]. Market and Sales - The company expanded its product coverage in over 30 provinces, cities, and autonomous regions in China[25]. - The company continues to optimize its sales model and strengthen sales management to expand its market coverage[33]. - The company reported a quarterly revenue of CNY 105,050,756.14 in Q3 2016, which was the highest among the four quarters[19]. - The sales volume of the dust mite drop increased by 16.98% to 3,467,654 units, while production volume rose by 30.58% to 3,710,336 units[43]. - The company plans to enhance its product line and market competitiveness through the development of new allergen treatment products[35]. Financial Management - The company reported a net cash flow from investment activities decreased by 46.47% to -¥102,571,715.25, primarily due to increased purchases of bank wealth management products[34]. - The company’s financing activities generated a net cash outflow of -¥56,560,000.00, which is a 16.67% increase in outflow compared to the previous year[34]. - The total amount of cash and cash equivalents decreased by ¥36,333,143.34, a significant decline of 890.68% year-on-year[55]. - The company raised a total of RMB 220,550,000.00 from the issuance of 11,000,000 shares at a price of RMB 20.05 per share, with actual funds raised being RMB 192,384,093.71 after deducting fees[62]. Shareholder and Governance - The company plans to optimize its organizational structure to enhance operational efficiency and transition from business control to strategic control[71]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operation from its controlling shareholder[160]. - The board of directors consists of seven members, including three independent directors, ensuring compliance with legal requirements[161]. - The company has not engaged in any related party transactions that would harm the interests of other shareholders[160]. - The company reported a commitment to not transfer or entrust the management of its shares for 36 months from the date of listing, with a maximum annual transfer limit of 25% of the total shares held[89]. Risks and Challenges - The company has identified risks related to industry policies, price reductions in bidding, and concentration of leading products in its future development outlook[6]. - The company faces industry policy risks due to ongoing healthcare reforms, which may impact the pharmaceutical operating environment[73]. - Price reduction risks from bidding processes and cost control measures are anticipated to affect the company's sales performance in certain regions[74]. - The company’s main product, Dust Mite Drops, constitutes a significant portion of its revenue, leading to risks associated with product concentration[75]. Employee and Management - The company employed a total of 702 staff, with 479 in sales, 76 in production, and 58 in technical roles[152]. - The educational background of employees includes 76 with master's degrees or above, 363 with bachelor's degrees, and 183 with associate degrees[153]. - The remuneration for the chairman and general manager, Hu Gengxi, was CNY 554,900 (approximately USD 83,000)[151]. - The company has implemented a performance-based compensation policy to align employee interests with company performance[154]. Audit and Compliance - The audit opinion issued was a standard unqualified opinion, indicating fair presentation of financial statements[184]. - The company has not faced any non-standard audit reports during the reporting period[96]. - The current auditor is Ernst & Young Hua Ming, with an audit fee of 600,000 RMB and a continuous service period of 2 years[97]. - The company maintained a strong internal control system with no major or important deficiencies reported[179].

Financial Performance - Total revenue for the reporting period was CNY 105,050,756.14, representing a 24.39% increase year-on-year[9]. - Net profit attributable to shareholders was CNY 48,449,776.71, up 21.32% from the same period last year[9]. - The net profit after deducting non-recurring gains and losses reached CNY 51,045,780.06, an increase of 28.92% year-on-year[9]. - Basic earnings per share were CNY 0.30, reflecting a 20.00% increase compared to the previous year[9]. - The company achieved operating revenue of CNY 238,466,313.19 for the first three quarters of 2016, a year-on-year increase of 17.91%[27]. - The net profit attributable to shareholders for the same period was CNY 102,579,185.40, reflecting a growth of 12.39% compared to the previous year[27]. - In Q3 2016, the company reported operating revenue of CNY 105,050,756.14, up 24.39% year-on-year[27]. - The company reported a total revenue of 1.5 billion CNY for Q3 2016, reflecting a year-on-year growth of 20%[38]. - The total comprehensive income for the current period was ¥102,588,366.24, compared to ¥91,281,534.97 in the previous period, indicating a growth of 12.5%[69]. Assets and Liabilities - Total assets increased by 8.44% to CNY 663,102,690.37 compared to the end of the previous year[9]. - Current assets totaled CNY 521,915,686.00, up from CNY 484,279,365.74, indicating an increase of about 7.8%[51]. - Total liabilities were CNY 34,160,869.49, up from CNY 28,574,093.54, which is an increase of around 19.6%[53]. - The company's equity attributable to shareholders reached CNY 628,941,820.88, compared to CNY 582,913,454.64, showing an increase of about 7.9%[54]. - Total cash and cash equivalents decreased by 42,427,789.29 CNY during the quarter, compared to a decrease of 37,414,356.53 CNY in the same quarter last year[80]. Cash Flow - The net cash flow from operating activities was 92,813,009.90 CNY, an increase of 17.5% compared to 78,985,378.10 CNY in the previous year[79]. - Cash flow from financing activities resulted in a net outflow of 56,560,000.00 CNY, compared to 48,459,097.34 CNY in the previous year[80]. - The company experienced a net cash flow from investment activities of -80,695,458.36 CNY, worsening from -59,940,322.57 CNY in the previous year[76]. Shareholder Information - The total number of shareholders at the end of the reporting period was 11,134, with the largest shareholder holding 51.81%[16]. - Shareholders are restricted from transferring their shares for 36 months post-listing, with a maximum annual transfer limit of 25% of their holdings after the lock-up period[34]. - The company has committed to reduce shareholdings by 5%-15% within two years after the lock-up period, provided the stock price remains above the issue price[34]. Risks and Challenges - The company faces risks related to high product gross margins and potential fluctuations in procurement prices[12]. - The main product, "Dust Mite Drops," constitutes a significant portion of revenue, indicating a risk of product concentration[13]. - The company is engaged in the development of new drugs for allergic diseases, which involves long and unpredictable cycles[14]. Strategic Initiatives - The company is advancing clinical trials for multiple products, including the Artemisia annua powder drops and dust mite mixture, enhancing its product portfolio in the allergy field[30]. - The company is actively expanding its marketing network and enhancing brand awareness through academic promotions and sales channel development[30]. - A strategic acquisition of a local biotech firm was announced, expected to enhance the company's product portfolio and increase market competitiveness[38]. Compliance and Governance - The company has continued to refine its corporate governance structure and internal control systems, ensuring compliance with relevant laws and regulations[31]. - The management emphasized the importance of transparency and accuracy in financial reporting, reaffirming their commitment to investor protection[38]. - The company has not violated any commitments regarding related party transactions during the reporting period[35].

Financial Performance - Total revenue for the reporting period reached ¥133,415,557.05, an increase of 13.27% compared to ¥117,784,048.11 in the same period last year[17]. - Net profit attributable to ordinary shareholders was ¥54,129,408.69, reflecting a growth of 5.45% from ¥51,333,838.61 year-on-year[17]. - The net cash flow from operating activities was ¥59,795,282.88, up by 2.55% from ¥58,306,949.43 in the previous year[17]. - Basic earnings per share increased to ¥0.33, a rise of 3.13% compared to ¥0.32 in the same period last year[17]. - Operating profit reached CNY 63,683,100.65, an increase of 9.96% compared to the previous year[28]. - The company achieved operating revenue of CNY 133,415,557.05, representing a year-on-year growth of 13.27%[28]. - The company reported non-recurring gains of ¥1,545,721.55 during the reporting period[19]. Assets and Liabilities - The total assets at the end of the reporting period were ¥607,983,611.77, a decrease of 0.57% from ¥611,487,548.18 at the end of the previous year[17]. - The company's total equity decreased from ¥582,913,454.64 to ¥580,489,548.53, a reduction of approximately 0.4%[106]. - Total current assets decreased from ¥484,279,365.74 to ¥471,272,555.80, a decline of about 2.1%[104]. - Total liabilities decreased from ¥28,574,093.54 to ¥27,494,063.24, a decline of about 3.8%[105]. - The company's cash and cash equivalents decreased from ¥271,807,102.82 to ¥235,232,592.03, a decline of approximately 13.4%[103]. Research and Development - Research and development expenses amounted to CNY 7,656,259.34, up by 3.98% from the previous year[29]. - The company is currently conducting clinical trials for the "Dust Mite Drops" for the treatment of atopic dermatitis, which is in Phase III[38]. - The company is also in Phase II clinical trials for the "Dust Mite Compound" aimed at treating allergic rhinitis and asthma[38]. - The company is advancing clinical trials for products including Artemisia pollen prick solution and has nine products under clinical application, enhancing its product structure in the allergy field[42]. Market and Competition - The company faces risks related to high product gross margins and the concentration of its main product, "Dust Mite Drops," which significantly contributes to revenue[23][24]. - New drug development poses risks due to long cycles and high investment, with potential market demand mismatches impacting future growth[25]. - The company is leading the domestic desensitization drug market, driven by increasing demand due to rising allergy disease prevalence[40]. Cash Flow and Investments - The company reported a significant decrease in cash and cash equivalents, with a net decrease of CNY 36,574,510.79, down 161.54% year-on-year[29]. - The cash flow from investment activities showed a net outflow of CNY 39,816,671.76, a significant decrease from the previous net inflow of CNY 49,602,773.33[119]. - The company recovered CNY 200,000,000.00 from investments, compared to CNY 60,000,000.00 in the previous period, marking a substantial increase of 233.3%[123]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company distributed cash dividends of RMB 56,560,000, amounting to RMB 3.50 per share based on a total share capital of 161,600,000 shares as of December 31, 2015[58]. - The total number of shareholders at the end of the reporting period is 10,139[92]. - Zhejiang Wawu Management Consulting Co., Ltd. holds 51.81% of the shares, totaling 83,725,979 shares[92]. Compliance and Governance - The financial report adheres to the accounting standards set by the Ministry of Finance, ensuring accurate representation of the company's financial status[140]. - The company has not encountered any major changes in the feasibility of the investment projects[48]. - The company reported no significant litigation or arbitration matters during the reporting period[63]. Commitments and Obligations - The company has commitments regarding the circulation restrictions and voluntary lock-up of shares for 36 months post-IPO, with specific conditions for share transfer and management[77]. - The company has a commitment to ensure that newly appointed directors and senior management comply with the stock price stabilization plan[79]. - The company will compensate investors for losses incurred due to false records or significant omissions in the prospectus[80]. Financial Reporting - The financial report for the first half of 2016 has not been audited[82]. - The company did not conduct an audit for the semi-annual financial report[101]. - The company’s consolidated financial statements are prepared based on control, including all subsidiaries, with intercompany transactions fully eliminated[151].