股票代码：300436 股票简称：广生堂 福建广生堂药业股份有限公司投资者关系活动记录表 编号：2023-001 | 投资者关系活动类别 | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 √业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单位名称及人员姓名 | 线上参与公司广生堂 2022 年度网上业绩说明会的投资者 | | 时间 | 2023 年 04 月 27 日（星期四）下午 15:00-17:00 | | 地点 | "广生堂投资者关系"微信小程序 | | 上市公司接待人员姓名 | 公司董事长、总经理：李国平先生 | | | 独立董事：任红先生 | | | 董事、副总经理、董事会秘书：林晓辉先生 | | | 财务总监：官建辉先生 | | | 保荐代表人：吴文杰先生 | | | 1、问：请详细介绍一下贵公司的战略规划 答：尊敬的投资者，您好！未来公司将秉持"精益主动、创新超 越"的战略理念，努力实现高质量、跨越式发展。公司将坚定实 | | | 施创新发展战略，持续提升创新投入，加快推进 ...

Financial Performance - The company's operating revenue remained stable compared to the previous year, but it reported a net loss due to increased R&D expenses of RMB 185.46 million, an increase of RMB 116.47 million year-on-year[5]. - The loss was primarily attributed to the ongoing impact of national drug procurement policies, which led to a decrease in sales revenue and gross profit for antiviral products[6]. - The company will not distribute cash dividends or issue bonus shares for the year[9]. - The net profit attributable to shareholders was -¥127,403,884.79, a decrease of 265.19% from -¥34,886,550.27 in the previous year[25]. - The basic earnings per share for 2022 was -¥0.8004, down 242.78% from -¥0.2335 in 2021[25]. - The net cash flow from operating activities was -¥119,679,687.02, a decline of 573.69% compared to -¥17,764,779.27 in 2021[25]. - The company reported a quarterly operating revenue of ¥96,523,364.67 in Q1 2022, with a decline to ¥88,298,732.06 in Q4 2022[28]. - The net profit attributable to shareholders for Q4 2022 was -¥55,910,815.44, worsening from -¥45,270,492.49 in Q3 2022[28]. - The company’s weighted average return on equity was -12.87% in 2022, down from -4.40% in 2021[25]. - The total net assets attributable to shareholders decreased by 11.01% to ¥928,462,440.88 at the end of 2022 from ¥1,043,355,057.64 at the end of 2021[25]. Research and Development - The company plans to continue investing in innovative drug research and development, with a focus on accelerating the progress of six global innovative drug projects[6]. - The R&D expenses for the year were RMB 185.46 million, reflecting a significant investment in innovation despite short-term losses[5]. - The company invested a total of 185.46 million yuan in R&D in 2022, an increase of 116.47 million yuan year-on-year, with 109.03 million yuan specifically allocated to the development of GST-HG171[94]. - The innovative drug GST-HG171 is currently in a seamless II/III phase clinical trial and is expected to be approved for market launch within the year, marking a significant breakthrough for the company[88]. - The company is developing innovative hepatitis B drugs GST-HG141 and GST-HG131, with GST-HG141 entering Phase II trials and GST-HG131 being the first HBsAg inhibitor approved for clinical trials in China[77][78]. - The company has established a comprehensive product line in liver health, including five major antiviral drugs for hepatitis B, positioning itself as a leading enterprise in this field[89]. - The company has made significant progress in its R&D pipeline, with multiple projects in various stages of clinical trials, including GST-HG171, which is currently advancing to II/III phase trials[83]. Market and Industry Trends - The pharmaceutical industry is expected to maintain an annual revenue and profit growth rate of over 8% during the 14th Five-Year Plan period, with the added value accounting for about 5% of total industry output[38]. - The market for hepatitis B virus drugs in China is projected to grow to 72.33 billion yuan by 2030, with an expected annual compound growth rate of 35.8% from 2025 to 2030[41]. - The global market for drugs targeting NASH is expected to exceed $15 billion by 2025, indicating significant market potential[46]. - The pharmaceutical industry is experiencing increased pressure due to various regulatory policies, but innovation is becoming the main theme for future growth opportunities[38]. - The company has developed into a well-known enterprise in the domestic antiviral field, particularly in hepatitis B virus treatment, with five major antiviral drugs including Adefovir, Lamivudine, Entecavir, Tenofovir, and Prodrug Tenofovir[56]. Strategic Initiatives - Future strategies include strengthening brand strategy, international expansion, and enhancing the integrated supply and sales system[7]. - The company is actively pursuing potential mergers and acquisitions to enhance its market share and operational capabilities[172]. - The company is focusing on expanding its product pipeline with high-end generic drugs, which will support steady revenue growth in the future[89]. - The company aims to enhance its market competitiveness in the hepatitis treatment field with innovative drug candidates like GST-HG121 and GST-HG131[83]. - The company is actively implementing an innovation development strategy, collaborating with leading global innovative drug research and development enterprises to develop multiple first-in-class innovative drugs targeting antiviral, hepatitis B clinical cure, anti-liver cancer, and anti-liver fibrosis[56]. Corporate Governance and Management - The company has established a transparent performance evaluation and incentive mechanism for directors and senior management, with plans to implement stock option incentive plans in the future[163]. - The company has implemented governance practices in compliance with relevant laws and regulations, ensuring independent operations of the board and management[157]. - The company has a clear and independent corporate governance structure, with no interference from shareholders in operational responsibilities[166]. - The company has established independent financial management and internal audit departments, ensuring independent financial decision-making[166]. - The management team has extensive experience in pharmaceutical development and operations, with key leaders having over 20 years of industry experience[93]. Human Resources and Employee Development - The company has established an employee incentive system to attract and retain core talent, including various subsidies and bonuses[195]. - The newly established Guangshengtang Academy aims to develop pharmaceutical talents with a national and international perspective[196]. - The company emphasizes the importance of human resources and has implemented a comprehensive talent development and training system[196]. - In 2022, the company conducted a total of 374 training sessions, with 1,391 hours of training and 4,141 participants[197]. - The total number of employees at the end of the reporting period is 908, with 549 from the parent company[193]. Risk Management - The company faces risks from industry policy changes and intensified market competition, which could impact sales regions and pricing strategies[142][144]. - The company emphasizes the importance of retaining core technical personnel to maintain its competitive edge in drug development and innovation[146]. - The company is focused on mitigating risks associated with new drug development and market acceptance, ensuring robust marketing strategies for new products[145][147].

Financial Performance - The company's revenue for Q1 2023 was ¥88,231,089.07, a decrease of 8.59% compared to ¥96,523,364.67 in the same period last year[5] - The net loss attributable to shareholders was ¥63,308,377.66, representing a significant decline of 593.29% from a loss of ¥9,131,629.17 in the previous year[5] - The company's basic and diluted earnings per share were both -¥0.3975, a decrease of 591.30% from -¥0.0575 in the same period last year[5] - The net profit for the first quarter was a loss of ¥70,563,194.81, compared to a loss of ¥11,085,643.29 in the same period last year, indicating a substantial decline[30] - The total comprehensive loss for the first quarter was ¥70,563,194.81, compared to a loss of ¥11,085,643.29 in the previous period[30] Cash Flow and Liabilities - The net cash flow from operating activities was -¥118,514,024.25, a decline of 513.17% compared to -¥19,328,170.43 in the same period last year[5] - The company's total liabilities amounted to approximately 834.06 million RMB, up from 539.22 million RMB, indicating a significant increase in financial obligations[26] - The company's cash and cash equivalents increased to approximately 329.41 million RMB from 238.98 million RMB, reflecting a growth of about 37.8%[24] - Cash and cash equivalents at the end of the period totaled ¥325,376,744.13, down from ¥358,510,329.59 at the end of the previous period[33] - Financing activities generated a net cash inflow of ¥301,181,831.14, compared to ¥52,245,691.70 in the previous period, indicating improved financing conditions[33] Research and Development - R&D expenses increased by 82.92% to ¥47,267,500, primarily due to ongoing investments in innovative drug development[8] - Research and development expenses rose significantly to ¥47,267,518.06, compared to ¥25,840,978.81 in the previous period, reflecting a 83.5% increase[27] - The company is advancing the clinical trial of its antiviral drug GST-HG171, which has shown superior efficacy compared to Pfizer's Paxlovid in early trials[17] - The clinical trial for the hepatitis B drug GST-HG141 has entered a new phase, with the first subject successfully enrolled in the Phase II trial[18] - The company is conducting a key Phase II/III registration clinical trial for GST-HG171 in collaboration with major hospitals[17] Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,063[12] - The largest shareholder, Fujian Aohua Group, holds 22.02% of shares, amounting to 35,068,651 shares, with 21,610,000 shares pledged[12] - The second-largest shareholder, Ye Liqing, holds 8.50% of shares, totaling 13,536,700 shares, with 10,152,525 shares under lock-up[12] - The third-largest shareholder, Li Guoping, holds 6.63% of shares, amounting to 10,560,866 shares, with 7,920,649 shares under lock-up[12] - The company has not disclosed any other shareholder relationships beyond those mentioned, nor any additional shareholders that may be considered as acting in concert[14] Assets and Investments - Total assets at the end of the reporting period were ¥1,719,115,113.73, an increase of 15.00% from ¥1,494,844,681.01 at the end of the previous year[5] - The company reported a significant increase in long-term borrowings, which rose by 120.54% to ¥18,533,710.00, primarily due to new bank loans[9] - The company's inventory rose to approximately 79.61 million RMB from 68.66 million RMB, showing an increase of about 15.5%[24] - The company reported a significant increase in construction in progress, rising to approximately 90.61 million RMB from 50.60 million RMB, indicating ongoing investment in development projects[25] - The company is actively expanding its production capabilities, with significant investments in the construction of a new manufacturing facility for oral dosage forms[9] Other Financial Activities - The cash flow from financing activities was ¥30,118,180.00, an increase of 476.47% compared to ¥5,224,570.00 in the previous year[10] - The company initiated a new round of refinancing on March 3, 2023, to enhance funding sources for innovative drug research and development, aiming to accelerate the development process and improve future profitability[20] - Guangsheng Zhonglin completed a financing of 220 million RMB, with 38.5 million RMB added to registered capital and 181.5 million RMB to capital reserves, reducing the company's shareholding from 90% to 81.0811%[19] - The controlling shareholder, Aohua Group, pledged 5 million shares and an additional 500,000 shares, with total pledged shares amounting to 26.79 million, representing 35.87% of their holdings and 16.82% of total shares[22]

福建广生堂药业股份有限公司 关于举办 2022 年年度报告网上业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 福建广生堂药业股份有限公司（以下简称"公司"）将于 2023 年 4 月 21 日在 巨潮资讯网（http://www.cninfo.com.cn/）披露公司 2022 年年度报告。为便于投 资者更深入了解公司 2022 年度生产经营及财务情况，公司将于 2023 年 4 月 27 日下午 15:00-17:00 举行 2022 年度网上业绩说明会。本次网上业绩说明会采用网 络远程的方式举行，投资者可通过以下方式参与互动交流。为广泛听取投资者的 意见和建议，提前向投资者征集问题，提问通道自发出公告之日起开放。 方式一：在微信中搜索"广生堂投资者关系"； 证券代码：300436 证券简称：广生堂 公告编号：2023043 参加本次年度报告网上业绩说明会的人员有：公司董事长、总经理李国平先 生，独立董事任红先生，董事、副总经理、董事会秘书林晓辉先生，财务总监官 建辉先生，保荐代表人吴文杰先生。欢迎广大投资者积极参与！ 特此公告。 福建广生 ...

Financial Performance - Revenue for Q3 2022 reached ¥104,961,700.94, an increase of 7.38% compared to the same period last year[4] - Net profit attributable to shareholders was -¥45,270,492.49, a significant decline of 1,218.14% year-on-year[4] - The company reported a basic and diluted earnings per share of -¥0.2842, a decrease of 1,215.74% year-on-year[4] - The net profit for Q3 2022 was a loss of ¥81.64 million, compared to a loss of ¥19.43 million in Q3 2021, reflecting a significant decline in profitability[23] - The total profit for Q3 2022 was a loss of ¥88.66 million, compared to a loss of ¥26.63 million in the same period last year[22] Research and Development - R&D expenses surged to ¥120,149,542.08, representing a 169.27% increase, primarily due to increased spending on innovative drugs[8] - Research and development expenses increased significantly to CNY 54.40 million, a year-on-year growth of 252.33%[11] - Cumulative research and development expenses for the first three quarters reached CNY 120.15 million, a year-on-year increase of 169.27%[11] - The innovative drug GST-HG171 for COVID-19 has shown excellent antiviral efficacy and safety, with clinical trials initiated on October 3, 2022[11] - The innovative drug GST-HG121 for hepatitis B has demonstrated significant efficacy in animal studies, with clinical trials starting on July 26, 2022[12] - The company has multiple ongoing clinical studies for new drugs targeting various diseases, including non-alcoholic fatty liver disease and liver fibrosis[12] Assets and Liabilities - Total assets as of September 30, 2022, amounted to ¥1,508,558,979.65, reflecting a 4.27% increase from the end of the previous year[4] - The company's total liabilities increased to CNY 492,982,617.94 from CNY 396,922,904.17, reflecting a rise of approximately 24.2%[20] - The company's non-current assets totaled CNY 1,053,111,384.06, an increase from CNY 896,876,285.31 at the beginning of the year, reflecting a growth of approximately 17.4%[19] Cash Flow - Cash flow from operating activities showed a net outflow of -¥77,728,318.34, worsening by 789.57% compared to the same period last year[8] - The company reported a net cash outflow from operating activities of approximately ¥77.73 million, worsening from a cash outflow of ¥8.74 million in the previous year[25] - Cash and cash equivalents at the end of Q3 2022 stood at ¥297.96 million, down from ¥442.77 million at the end of Q3 2021, indicating a decrease of 32.6%[26] - The financing activities generated a net cash inflow of approximately ¥143.54 million, a decrease from ¥429.17 million in Q3 2021[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 18,268[9] - The largest shareholder, Fujian Aohua Group Co., Ltd., holds 22.02% of shares, amounting to 35,068,651 shares, with 23,110,000 shares pledged[9] - The second-largest shareholder, Ye Liqing, holds 8.50% of shares, totaling 13,536,700 shares[9] - The controlling shareholder, Aohua Group, holds 35,068,651 shares, representing 22.02% of the total share capital after the redemption of 12.7 million shares used as collateral for bonds[16] - Aohua Group has pledged a total of 23.11 million shares, which is 65.90% of its holdings, equivalent to 14.51% of the company's total share capital[16] Government Support and Capital Management - The company received government subsidies amounting to ¥2,436,593.33 during the quarter, with a total of ¥6,697,068.83 for the year-to-date[5] - The company approved a capital increase of CNY 30 million to its wholly-owned subsidiary, increasing its registered capital from CNY 140 million to CNY 170 million[14] - The company plans to temporarily use CNY 50 million of idle raised funds to supplement working capital, with a repayment period not exceeding 12 months[14] Operating Costs - The total operating costs for Q3 2022 were approximately ¥446.06 million, an increase of 35.5% compared to ¥329.04 million in Q3 2021[22] - The company generated ¥330.68 million in cash from sales of goods and services, an increase from ¥307.70 million in the same quarter last year[24] - The company reported an investment income of ¥56.03 million, significantly higher than ¥21.89 million in Q3 2021, showing improved performance in investment activities[22]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥192,504,751.73, representing an increase of 11.07% compared to ¥173,317,191.15 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was a loss of ¥26,222,576.86, which is a decline of 53.37% from a loss of ¥17,097,496.37 in the previous year[22]. - The net cash flow from operating activities was -¥36,784,632.39, a significant decrease of 186.12% compared to -¥12,856,175.60 in the same period last year[22]. - The total assets at the end of the reporting period were ¥1,496,223,029.47, an increase of 3.42% from ¥1,446,766,520.34 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company decreased by 1.22% to ¥1,030,668,408.69 from ¥1,043,355,057.64 at the end of the previous year[22]. - The basic and diluted earnings per share were both -¥0.1649, reflecting a decrease of 35.05% from -¥0.1221 in the same period last year[22]. - The weighted average return on net assets was -2.55%, an improvement of 0.46% compared to -3.01% in the previous year[22]. Research and Development - R&D investment reached 66.54 million yuan, a significant increase of 108.33% year-on-year, with R&D expenses alone growing by 125.32%[30]. - The company is advancing the clinical registration application for the oral COVID-19 drug GST-HG171 and has completed Phase Ib clinical trials for the hepatitis B treatment GST-HG141[30]. - The company has invested in six innovative drugs targeting various diseases, with five of them approved for clinical trials and four in Phase I clinical stages, showcasing a first-mover advantage[40]. - The small molecule oral drug GST-HG171 has shown strong efficacy against multiple COVID-19 variants and is expected to be a competitive treatment option[41]. - The clinical cure for hepatitis B project, including GST-HG141, has shown significant viral load reduction in patients, outperforming existing nucleoside drugs[47]. - GST-HG131, a first-in-class hepatitis B surface antigen inhibitor, has completed all Phase I trial participant dosing and safety observations[48]. - The Phase I clinical trial for the new drug GST-HG151 targeting non-alcoholic fatty liver disease and liver fibrosis has successfully enrolled its first subject as of March 11, 2022[73]. Market and Industry Insights - Global pharmaceutical spending was approximately $1.4 trillion in 2021, projected to reach nearly $1.8 trillion by 2026, with a compound annual growth rate of 3%-6% from 2022 to 2026[52]. - China's pharmaceutical expenditure increased from $68 billion in 2011 to $169 billion in 2021, with an expected growth to $205 billion by 2026, driven by the launch of innovative drugs[53]. - The compound annual growth rate for original brand drugs in China from 2022 to 2026 is projected to be 10.4%[54]. - Chronic hepatitis B infection affects approximately 70 million people in China, with an overall diagnosis rate of 19% and treatment rate of 11%[57]. - Nucleoside (acid) drugs account for about 80% of the hepatitis B treatment market in China, with significant market potential for first-line antiviral treatments[58]. Product Development and Approvals - The company has developed a comprehensive product line for liver health, including treatments for hepatitis B, hepatitis C, fatty liver disease, and liver cancer[66]. - The company’s tadalafil product for male health has been approved for sale, complementing its liver health product offerings[36]. - The company has successfully invalidated the core patent of the original sofosbuvir compound, significantly promoting the domestic production process of the drug[39]. - The new drug GST-HG141 for hepatitis B treatment has completed Phase I clinical trials and is advancing to Phase II trials, indicating strong potential in the hepatitis treatment market[68]. - The company has launched a new oral antiviral drug GST-HG171 for COVID-19, which is currently progressing through clinical registration applications, contributing to the fight against the pandemic[69]. Financial Management and Investments - The company established a new subsidiary, Fujian Guangshentang Zhonglin Biotechnology Co., Ltd., focusing on innovative drug research and development, with an investment of ¥58,048,800 and a net loss of ¥60,162,200 during the reporting period[81]. - The company has not reported any significant equity investments during the reporting period[90]. - The total investment commitment for the integrated production of raw materials and preparations is CNY 24,070 million, with a cumulative investment of CNY 18,820 million, achieving 78.19% of the planned progress[96]. - The company has not engaged in any entrusted financial management, derivative investments, or entrusted loans during the reporting period[99][100][101]. Corporate Governance and Compliance - The company conducted over 100 investor consultations through various platforms, enhancing transparency and communication with shareholders[132]. - The company held three shareholder meetings and four board meetings during the reporting period, reinforcing its governance structure[131]. - The company has confirmed that there are no violations in the management and disclosure of raised funds, and all unused funds are stored in a dedicated bank account for project use[97]. - The company has established a strong intellectual property protection strategy for its innovative drugs, with PCT international patent applications and approvals in China and other regions[73]. Environmental Responsibility - The company reported a total nitrogen discharge of 0.0759 tons, which is below the regulatory limit of 30 mg/L, with an actual concentration of 15.657 mg/L[124]. - The company achieved a chemical oxygen demand (COD) discharge of 0.218 tons, meeting the standard limit of 100 mg/L, with a concentration of 40.883 mg/L[124]. - The company has established a dedicated environmental protection department and implemented strict environmental management systems, ensuring compliance with national laws and regulations[125]. - The company has not faced any environmental violations or accidents during the reporting period, indicating effective environmental risk management[125]. Employee and Social Responsibility - The company has implemented a comprehensive employee benefits program, including social insurance and health check-ups, to protect employee rights[132]. - The company has established a scholarship program that has supported over 1,000 students in Ningde, with the program running for 11 consecutive years[136]. - The company actively participates in social welfare activities, including donations and educational support, reflecting its commitment to corporate social responsibility[136]. - The company has set a goal to create ten job positions annually for the employment of disabled individuals[137].

Financial Performance - The company's operating income remained stable compared to the previous year, but net profit experienced a loss due to factors such as national drug procurement policies leading to price declines and increased R&D, sales, and management expenses [4]. - The company's operating revenue for 2021 was ¥370,442,190.29, representing a slight increase of 0.53% compared to ¥368,489,433.97 in 2020 [19]. - The net profit attributable to shareholders was -¥34,886,550.27 in 2021, a significant decline of 335.33% from ¥14,824,518.08 in 2020 [19]. - The net cash flow from operating activities was -¥17,764,779.27, down 213.90% from ¥15,597,456.96 in the previous year [19]. - The total assets at the end of 2021 reached ¥1,446,766,520.34, an increase of 43.85% from ¥1,005,780,979.42 at the end of 2020 [19]. - The net assets attributable to shareholders increased by 80.95% to ¥1,043,355,057.64 at the end of 2021, compared to ¥576,597,504.24 at the end of 2020 [19]. - The company reported a basic earnings per share of -¥0.2335 for 2021, a decrease of 320.49% from ¥0.1059 in 2020 [19]. - The weighted average return on equity was -4.40% in 2021, down 7.00% from 2.60% in 2020 [19]. - The company reported a total of ¥49,958.41 million raised through a private placement, with ¥25,676.24 million already utilized for designated projects [110]. Research and Development - The company plans to accelerate the research and development of innovative drugs and enhance marketing capabilities and sales channels to improve operational efficiency and risk resistance [5]. - R&D expenses increased significantly to CNY 68.99 million, up CNY 21.52 million year-on-year, contributing to a net loss of CNY 34.89 million [75]. - The company has invested significantly in innovative drug development, with a focus on liver health, and has six innovative drugs in the pipeline, five of which have received clinical approval [54]. - The innovative drug GST-HG141 has completed Phase Ia clinical trials and is preparing for Phase II trials, showing promising safety and efficacy [75]. - The company is actively pursuing the development of new drugs for non-alcoholic fatty liver disease and liver fibrosis, with the new drug GST-HG151 having successfully enrolled its first subject in Phase I clinical trials [68]. - The company aims to continue its innovation strategy by developing global first-class innovative drugs targeting COVID-19, hepatitis B clinical cure, liver cancer, and liver fibrosis [44]. Market and Industry Trends - The pharmaceutical industry is projected to grow at a compound annual growth rate of 3%-6% from 2022 to 2026, with global drug spending expected to reach nearly $1.8 trillion by 2026 [30]. - China's pharmaceutical expenditure is expected to grow at a compound annual growth rate of 3.8% over the next five years, reaching $205 billion by 2026 [31]. - The implementation of various policies such as "two-invoice system" and drug price negotiations has increased operational pressure on pharmaceutical companies, leading to a trend of industry consolidation and higher concentration [32]. - The market for drugs targeting non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH) is projected to exceed $15 billion by 2025, highlighting a substantial opportunity for new therapies [37]. Product Development and Sales - The company has developed a comprehensive product line for liver health, including five major antiviral drugs for hepatitis B, positioning itself as a leading enterprise in the domestic antiviral field [44]. - The company’s antiviral drugs, including tenofovir and entecavir, have passed consistency evaluations, enhancing market competitiveness and accelerating the import substitution of generics [47]. - The company has successfully launched sildenafil and tadalafil, which are among the largest products in the erectile dysfunction market, further diversifying its product offerings [50]. - The company has expanded its cardiovascular product line with rivaroxaban and pitavastatin, both included in the 2021 National Basic Medical Insurance Drug List, enhancing its market presence [52]. - The company actively participates in national drug centralized procurement, which has improved its product market share significantly [48]. - The company’s sales of hepatitis B antiviral drugs are not affected by seasonal or cyclical factors, indicating stable demand [45]. Corporate Governance and Management - The company maintains strict independence from its controlling shareholder in terms of assets, personnel, finance, and operations, ensuring a complete and autonomous business capability [139]. - The company emphasizes transparency in information disclosure, adhering to regulations and ensuring timely and accurate communication with shareholders [138]. - The company has established a fair and transparent performance evaluation and incentive mechanism for its directors and senior management, enhancing employee motivation [138]. - The company has a dedicated investor hotline and communication channels to gather feedback from investors regarding its operations and management [138]. - The company has maintained a stable board of directors, with terms extending until January 2024 for key members [141]. Environmental Responsibility - The company has established a dedicated safety and environmental protection department to oversee environmental management and compliance [196]. - The company has implemented real-time monitoring systems for wastewater and VOC emissions, ensuring compliance with environmental standards [196]. - The company reported no environmental violations or accidents as of December 2021 [196]. - The company’s wastewater treatment meets the discharge standards with a COD concentration of 27.9 mg/L, below the limit of 100 mg/L [195]. - The company has successfully completed environmental impact assessments for all projects, adhering to national laws and regulations [196]. Employee Development and Welfare - The company emphasizes a performance-based compensation system, aligning salaries with job value and providing various employee benefits [174]. - In 2021, the company focused on talent development, implementing tailored training programs for core and potential talents [175]. - The training system was optimized to enhance employee skills and promote a competitive learning environment [176]. - The employee composition includes 317 production staff, 316 sales personnel, 89 technical staff, 17 financial staff, and 134 administrative staff [173]. - The company received the "Best Employer with Development Potential" award from Zhaopin and Peking University, reflecting its commitment to employee welfare and satisfaction [199].

Financial Performance - The company's revenue for Q1 2022 was ¥96,523,364.67, representing a year-on-year increase of 1.68% compared to ¥94,929,591.85 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥9,131,629.17, a significant decline of 615.90% from a profit of ¥1,770,052.55 in the previous year[4] - The net profit for Q1 2022 was a loss of CNY 11,085,643.29, compared to a profit of CNY 2,212,394.60 in Q1 2021, indicating a substantial decline[33] - The total comprehensive income for Q1 2022 was a loss of CNY 11,085,643.29, compared to a gain of CNY 2,212,394.60 in the same period last year[34] - Earnings per share (EPS) for Q1 2022 was -0.0575, down from 0.0126 in the same quarter last year[34] Cash Flow - The net cash flow from operating activities was -¥19,328,170.43, a decrease of 719.71% compared to a positive cash flow of ¥3,118,900.02 in the same period last year[8] - The net cash flow from operating activities was -19,328,170.43 CNY, compared to 3,118,900.02 CNY in the previous year[36] - The cash flow from operating activities showed a significant decline compared to the previous year[36] - Cash inflow from operating activities was CNY 114,180,960.32, slightly down from CNY 116,911,016.23 in the previous year[35] - Cash outflow from operating activities totaled CNY 133,509,130.75, an increase from CNY 113,792,116.21 year-on-year[35] - The net cash flow from investing activities was -63,575,697.42 CNY, a decrease from -30,839,510.51 CNY year-over-year[36] - The net cash flow from financing activities was 52,245,691.70 CNY, compared to -2,361,014.37 CNY in the previous year[36] - The company raised 25,100,000.00 CNY from minority shareholders during the financing activities[36] - The company obtained loans totaling 73,996,722.38 CNY, compared to 26,437,355.00 CNY in the previous year[36] - Cash outflow for debt repayment was 44,750,000.00 CNY, compared to 26,420,000.00 CNY in the previous year[36] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,493,133,372.25, an increase of 3.20% from ¥1,446,766,520.34 at the end of the previous year[4] - The company's current liabilities totaled 333,503,476.21 yuan, up from 302,312,036.51 yuan at the beginning of the year[29] - The company's long-term investments increased to 118,790,202.32 yuan from 99,977,002.91 yuan at the beginning of the year[28] - The company's total assets amounted to 1,493,133,372.25 yuan, an increase from 1,446,766,520.34 yuan at the beginning of the year[28] - The company's cash and cash equivalents decreased to 362,915,329.59 yuan from 393,573,505.74 yuan at the beginning of the year[27] Shareholder Information - The total number of common shareholders at the end of the reporting period is 27,156[11] - The largest shareholder, Fujian Aohua Group Co., Ltd., holds 14.05% of shares, totaling 22,368,651 shares, with 7,000,000 shares pledged[11] - The second-largest shareholder, Ye Liqing, holds 8.50% of shares, totaling 13,536,700 shares, with 10,152,525 shares unrestricted[11] - The company has a total of 44,765,674 restricted shares, with 18,777,000 shares released during the period[15] - The total number of shares held by the top ten unrestricted shareholders is 22,368,651 shares for Fujian Aohua Group Co., Ltd.[11] - The company has a total of 10,211,149 shares held by executive Li Guoping, which are subject to lock-up restrictions[14] - The company has not disclosed any other significant shareholder relationships beyond those mentioned[11] Research and Development - Research and development expenses increased by 63.68% to ¥25,840,978.81, up from ¥15,787,734.36, reflecting the company's commitment to innovative drug development[8] - The company is advancing the development of the innovative oral drug GST-HG171 for COVID-19, which has shown efficacy against various virus strains in preclinical models[16] - The company aims to expedite the research and development of GST-HG171 to contribute to pandemic control efforts[16] - The company has identified clinical candidates for GST-HG171 and is integrating resources for rapid development[16] - The company has initiated the Phase Ib clinical trial for the innovative hepatitis B treatment drug GST-HG141, showing good safety and efficacy results, and is preparing to advance to Phase II trials after obtaining necessary approvals[17] - The Phase I clinical trial for the new drug GST-HG151 targeting non-alcoholic fatty liver disease and liver fibrosis has successfully enrolled its first subject, with the trial conducted at Fujian Medical University[18] Investments and Contracts - The investment income from affiliated companies increased by 108.08% to ¥18,813,199.41, compared to ¥9,041,527.02 in the same period last year, driven by the growth in COVID-19 testing services[8] - The company signed a technical service contract with Fujian Ruitai Pharmaceutical Technology Co., Ltd., which will facilitate future drug commercialization and generate new business revenue[20] - The company has increased its investment in its wholly-owned subsidiary, Jin Tang Pharmaceutical, by 40 million yuan to support the construction of an integrated production base for raw materials[24] Tax and Compliance - The company received the High-tech Enterprise Certificate, allowing it to enjoy a reduced corporate income tax rate of 15% for three consecutive years from 2021 to 2023[25] - The company did not conduct an audit for the first quarter report[37]

Financial Performance - The company's revenue for Q3 2021 was ¥97,744,325.87, representing a slight increase of 0.19% compared to the same period last year[2]. - The net profit attributable to shareholders was -¥3,434,423.19, a significant decrease of 194.32% year-on-year[2]. - The net profit after deducting non-recurring gains and losses was -¥5,046,217.39, reflecting a decline of 485.01% compared to the previous year[2]. - The company reported a significant increase in capital reserves, which reached ¥657,768,634.69, up 272.83% from the previous year-end due to premium share issuance[6]. - The company reported a narrowing loss in Q3 2021 compared to previous quarters, indicating improved financial performance[13]. - Net profit for the third quarter of 2021 was CNY -19,429,076.04, compared to a net profit of CNY 16,527,419.15 in the same period of 2020, indicating a significant decline[22]. - The net profit attributable to the parent company was -20,531,919.56 CNY, compared to a profit of 15,012,979.21 CNY in the same period last year[23]. - The total comprehensive income attributable to the parent company was -20,531,919.56 CNY, while the previous year's figure was 15,012,979.21 CNY[23]. - The basic and diluted earnings per share were both -0.1404 CNY, compared to 0.1072 CNY in the same period last year[23]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,427,164,685.05, an increase of 41.90% from the end of the previous year[2]. - As of September 30, 2021, total current assets increased to CNY 577,566,370.74 from CNY 257,540,926.76 as of December 31, 2020, representing a growth of approximately 124.5%[19]. - The company's total liabilities decreased to CNY 364,487,735.69 from CNY 423,793,648.69, a reduction of about 13.9%[20]. - The company's long-term equity investments increased to CNY 91,815,873.36 from CNY 69,929,129.03, a growth of approximately 31.3%[19]. - Cash and cash equivalents significantly increased to CNY 446,023,048.57 from CNY 135,989,349.92, representing a growth of about 228.5%[19]. - The total assets of the company reached CNY 1,427,164,685.05, up from CNY 1,005,780,979.42, indicating an increase of approximately 41.9%[20]. - The company's capital reserve increased to CNY 657,768,634.69 from CNY 176,426,940.02, reflecting a substantial growth of about 272.5%[20]. Cash Flow - The company reported a net cash flow from operating activities of -¥8,737,728.68, a decrease of 182.52% year-on-year[6]. - The net cash flow from operating activities was -8,737,728.68 CNY, a decrease from 10,588,502.12 CNY in the previous year[26]. - The cash inflow from financing activities was 613,466,566.26 CNY, compared to 110,020,000.00 CNY in the same period last year[26]. - The net cash flow from financing activities was 429,172,634.54 CNY, significantly higher than 50,316,687.37 CNY in the previous year[27]. - The total cash inflow from operating activities was 322,215,445.59 CNY, compared to 315,395,999.69 CNY in the same period last year[26]. - The company reported a cash outflow from investing activities of 113,401,436.27 CNY, compared to 62,114,906.96 CNY in the previous year[26]. Research and Development - Research and development expenses for the first nine months of 2021 were ¥44,620,348.61, an increase of 47.93% compared to the same period in 2020[6]. - Research and development expenses rose to CNY 44,620,348.61 in Q3 2021, compared to CNY 30,162,730.70 in Q3 2020, marking an increase of about 48.0%[22]. - The company has ongoing clinical trials for other innovative drugs, including GST-HG141, GST-HG131, GST-HG151, and GST-HG121, with progress reported as smooth[14]. - The company is actively preparing for the II phase clinical trial of GST-HG141, following successful patient enrollment in the Ib phase trial[14]. - The company completed the I phase clinical trial for the new c-Met targeted drug GST-HG161, with good overall safety and tolerance observed[13]. Share Issuance and Financing - The company issued 18,777,000 shares to specific investors, increasing total share capital from 140,000,000 to 158,777,000 shares[14]. - The total amount raised from the issuance of shares was approximately RMB 514.49 million, with a net amount of RMB 499.58 million after deducting issuance costs[16]. - The company raised ¥429,172,634.54 from financing activities, a substantial increase of 752.94% year-on-year due to issuing shares to specific investors[6]. - The company plans to use RMB 50 million and RMB 30 million to increase capital in its subsidiaries, Fujian Guangshengtang Jintang Pharmaceutical Co., Ltd. and Jiangsu Zhongxing Pharmaceutical Co., Ltd.[16]. Product Development and Market Activity - New products such as Peginterferon and Sildenafil tablets were launched in July 2021, with expected revenue contributions accelerating in the future[13]. - The company won bids for the fifth batch of national drug centralized procurement for Rivaroxaban tablets, which began supply in late September 2021[13]. Audit and Compliance - The company did not undergo an audit for the third quarter report[28].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥173.32 million, representing a slight increase of 0.05% compared to the same period last year[21]. - The net profit attributable to shareholders of the listed company was a loss of approximately ¥17.10 million, a decrease of 250.35% compared to a profit of ¥11.37 million in the same period last year[21]. - The net cash flow from operating activities was a negative ¥12.86 million, a decline of 352.28% compared to a positive cash flow of ¥5.10 million in the previous year[21]. - The total assets at the end of the reporting period were approximately ¥1.48 billion, an increase of 47.47% compared to the end of the previous year[21]. - The net assets attributable to shareholders of the listed company were approximately ¥1.06 billion, reflecting an increase of 83.95% compared to the previous year[21]. - The basic earnings per share for the reporting period was -¥0.1221, compared to ¥0.0812 in the same period last year, marking a decrease of 250.37%[21]. - The weighted average return on net assets was -3.01%, a decrease of 5.00% compared to 1.99% in the previous year[21]. - The company reported a total comprehensive income of approximately -¥24.85 million for the first half of 2021, compared to ¥7.93 million in the same period of 2020, reflecting a decline in overall financial performance[191]. Research and Development - R&D expenses for the first half of 2021 amounted to 29.18 million yuan, an increase of 9.94 million yuan year-on-year, reflecting the company's commitment to innovation[30]. - Research and development expenses increased by 24.55% to ¥31,937,190.34 from ¥25,641,171.67 year-on-year, reflecting progress in R&D projects[77]. - The R&D expenditure for the period was 44.3 million yuan, focusing on innovative drug development[198]. - The company emphasizes continuous innovation and R&D investment as part of its long-term strategy to lead in the liver health pharmaceutical market[34]. - The company is actively pursuing five global first-class new drug research projects initiated since 2016, focusing on liver cancer and hepatitis, which may enhance its future market competitiveness[105]. Market Strategy and Product Development - The company aims to transition from generic to innovative drug development, focusing on liver health and expanding its product pipeline in cardiovascular and male health sectors[35]. - The company has signed a strategic cooperation agreement with Shanghai Pharmaceutical Holdings to enhance market penetration and product distribution[32]. - The company is actively pursuing mergers and acquisitions to enrich its product line and expand market space, while also facing legal, policy, and operational risks during the integration process[108]. - The company has established a comprehensive product line in liver health, including five nucleoside (acid) antiviral drugs for hepatitis B, with all products included in the 2020 National Basic Medical Insurance Drug List[70]. - The company is enhancing its market position through the introduction of new products and ongoing research in the hepatitis treatment sector[66]. Financial Position and Cash Flow - The net cash flow from financing activities surged by 1,022.00% to ¥483,119,528.82, primarily due to funds raised from issuing shares to specific investors[77]. - The company's cash and cash equivalents increased significantly by 3,152.96% to ¥412,226,225.62, attributed to the funds raised from the share issuance[77]. - The total cash and cash equivalents at the end of the first half of 2021 stood at approximately ¥547.97 million, up from ¥106.14 million at the end of the first half of 2020, reflecting a significant growth in cash reserves[192]. - The company reported a total cash inflow from financing activities of approximately ¥573.17 million in the first half of 2021, significantly higher than ¥95.02 million in the same period of 2020, indicating a substantial increase in financing activities[192]. - The company's cash flow from operating activities turned negative at -¥12,856,175.60, a decline of 352.28% compared to the previous year, primarily due to increased expenses[77]. Compliance and Governance - The company has maintained a pollution discharge compliance rate of 100% with no environmental violations reported as of June 2021[118]. - The company has established a dedicated safety and environmental protection department to oversee compliance with environmental regulations[118]. - The company actively engages with over 100 investor inquiries through various communication channels to ensure transparency and protect shareholder rights[121]. - The company completed the election of the fourth board of directors and supervisory board in January 2021, ensuring governance continuity[150]. - The company has not reported any significant changes in major contracts or daily operations during the reporting period[148]. Risks and Challenges - The company faces various risks and uncertainties that may affect its future development strategies and operational plans[5]. - The company faces risks from industry policy changes, including price control measures and procurement policies, which may impact operational performance[104]. - The company has committed to optimizing production processes and enhancing product quality to maintain competitive advantages amid increasing market competition[106]. Corporate Social Responsibility - The company has participated in social welfare activities, including donations and educational support, reflecting its commitment to corporate social responsibility[123]. - The company emphasizes employee welfare by providing benefits such as health check-ups and mandatory labor contracts, ensuring compliance with labor laws[121].