证券代码：300452 证券简称：山河药辅 公告编号：2022-048 安徽山河药用辅料股份有限公司 关于参加安徽辖区上市公司 2022 年投资者 网上集体接待日活动的公告 本公司及董事会全体成员保证本公告内容不存在任何虚假记 载、误导性陈述或者重大遗漏。 为进一步加强与投资者的互动交流，安徽山河药用辅料股份有限 公司（以下简称"公司"）将参加由安徽证监局指导、安徽上市公司 协会与深圳市全景网络有限公司联合举办的"2022 年安徽辖区上市 公司投资者集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演" 网站（http://rs.p5w.net），或关注微信公众号：全景财经，或下 载全景路演 APP,参与本次互动交流，活动时间为 2022 年 9 月 7 日（周 三） 16：00-17：30。届时公司董事会秘书、财务总监刘琦先生和证 券事务代表姜之舟先生将在线就公司 2022 半年度报告中的公司业 绩、公司治理、发展战略、 经营状况、融资计划、股权激励和可持 续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投 资者踊跃参与！ 特此公告。 安徽山河药用辅料 ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 359,974,941.25, representing a 17.82% increase compared to CNY 305,526,752.22 in the same period last year[21]. - The net profit attributable to shareholders was CNY 66,159,007.20, up 24.21% from CNY 53,265,124.19 year-on-year[21]. - The net cash flow from operating activities increased by 50.14% to CNY 67,238,163.29, compared to CNY 44,783,605.11 in the previous year[21]. - The basic earnings per share rose to CNY 0.28, a 21.74% increase from CNY 0.23 in the same period last year[21]. - Total assets at the end of the reporting period were CNY 1,009,407,252.91, reflecting a 4.86% increase from CNY 962,583,989.34 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 1.91% to CNY 652,240,997.45 from CNY 640,000,201.75 at the end of the previous year[21]. - In the first half of 2022, the company achieved revenue of CNY 359.97 million, representing a year-on-year growth of 17.82%[39]. - The net profit attributable to shareholders was CNY 66.16 million, an increase of 24.21% year-on-year[39]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 59.30 million, up 23.00% year-on-year[39]. - The company reported a total revenue of 7,909 million CNY for the first half of 2022, with a net profit of 2,473 million CNY, reflecting a significant performance in the pharmaceutical excipients sector[65]. Research and Development - The company has been focused on the research, production, and sales of pharmaceutical excipients since its establishment in 2001, becoming one of the leading suppliers in China for oral solid dosage excipients[29]. - The company emphasizes product quality optimization, product chain enrichment, and differentiated production to meet market demand[30]. - The company has established a strong technical accumulation and R&D experience in key technologies, contributing to its innovative capabilities[30]. - The company has improved its R&D capabilities, successfully developing injection-grade excipients to enrich its product line[39]. - The company is actively expanding its market share in the fields of health products and plant capsules, with ongoing R&D in injection excipients and premix excipients[37]. - The company has 161 R&D personnel, accounting for 18% of its total workforce, and holds 17 national invention patents related to pharmaceutical excipients[45]. - The company is focusing on expanding its market presence and enhancing product development, although specific figures were not provided in the report[176]. - The company plans to continue its focus on research and development to enhance product offerings and market competitiveness[179]. Market Position and Strategy - The company has established a strong marketing network with over 2,700 pharmaceutical manufacturers as clients, and exports to multiple countries including Germany, the UK, and the US[48]. - The company maintains a leading position in the domestic solid preparation excipients industry, with several products achieving high sales volumes[37]. - The company is focusing on international market expansion, but faces risks from rising export costs due to fluctuating foreign exchange rates and shipping fees[78]. - The company plans to enhance product quality and service levels to improve pricing power and mitigate raw material cost increases[77]. - The company is committed to providing comprehensive procurement services in the pharmaceutical excipients industry, leveraging its established market position[75]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[163]. Financial Management - The company has not disclosed any significant new product developments or market expansion strategies in the report[21]. - The company has implemented strict supplier selection standards to ensure the quality and stability of raw material supply[34]. - The company has not engaged in any derivative investments or entrusted loans during the reporting period, indicating a conservative financial strategy[69][70]. - The company has no fundraising activities reported during the reporting period, indicating a focus on internal financing[66]. - The company has maintained a strong liquidity position with no overdue financial management products, ensuring financial stability[68]. - The company reported a significant decrease in net cash flow from investment activities, which fell by 168.53% to -$12.55 million due to increased purchases of financial products[51]. Environmental and Social Responsibility - The company reported a total of 36,627 kg of COD emissions, which is below the standard limit of 500 mg/l[96]. - The company processed ammonia nitrogen emissions to a concentration of 0.93 mg/l, well below the standard limit of 45 mg/l[96]. - The company has a total of 1.775 tons of hazardous waste, with no instances of exceeding discharge standards[96]. - The company’s noise emissions were recorded at 45 db, which is compliant with the standard limits of 65/55 db[96]. - The company actively participates in social responsibility initiatives, including poverty alleviation and ecological protection[104]. - The company donated 200,000 yuan to the Huainan Charity Association for epidemic prevention in April 2022[104]. Shareholder Structure and Governance - The total number of common stock shareholders at the end of the reporting period is 25,322[143]. - The largest shareholder, Yin Zhenglong, holds 26.89% of shares, totaling 63,057,454 shares[144]. - The second largest shareholder, Shanghai Fosun Pharmaceutical Industry Development Co., Ltd., holds 11.19% of shares, totaling 26,254,059 shares[144]. - The total number of shares held by directors and senior management at the end of the reporting period is 63,517,000 shares[145]. - The company has implemented a stock incentive plan, with specific conditions for the release of restricted shares for executives[140]. - The company has maintained a consistent dividend policy, with a profit distribution of 45.10 million to shareholders[187]. Risks and Challenges - The company faces risks including fluctuations in raw material prices and increased costs of foreign trade exports, which may impact market conditions[5]. - The main raw materials for pharmaceutical excipients have seen significant price increases over the past year, posing a risk to profit margins due to rising production costs[77]. - The new pharmaceutical excipient base project is expected to be completed in 2023, but faces risks related to project management and cost control[82]. - Future guidance indicates a cautious outlook, with expectations of gradual recovery in market demand[179].

Financial Performance - The company's revenue for Q1 2022 was ¥191,403,805.41, representing a 10.99% increase compared to ¥172,457,902.67 in the same period last year[4] - Net profit attributable to shareholders was ¥33,838,831.74, an increase of 8.76% from ¥31,114,589.36 year-on-year[4] - The total operating revenue for the first quarter of 2022 was CNY 191,403,805.41, representing an increase of 10.9% compared to CNY 172,457,902.67 in the same period last year[21] - The net profit for the first quarter was CNY 33,506,761.62, an increase of 8.5% from CNY 30,746,016.54 in the previous year[22] - The earnings per share (EPS) for the first quarter was CNY 0.19, compared to CNY 0.17 in the same period last year, reflecting a growth of 11.8%[22] Cash Flow - The net cash flow from operating activities reached ¥4,881,325.98, showing a significant increase of 57.01% compared to ¥3,109,006.22 in the previous year[4] - The net cash flow from operating activities for the current period is $4,881,325.98, an increase of 57.1% compared to $3,109,006.22 in the previous period[25] - Cash inflow from operating activities totaled $143,339,114.30, up 12.9% from $126,903,305.46 in the previous period[25] - Cash outflow from operating activities increased to $138,457,788.32, compared to $123,794,299.24 in the previous period, reflecting a rise of 11.8%[25] - Cash flow from financing activities resulted in a net outflow of $77,997.19, an improvement from a net outflow of $346,497.96 in the previous period[26] Investment and Assets - Research and development expenses for the period amounted to ¥896.14 million, reflecting a 49.92% increase year-on-year, indicating a rise in R&D investment[8] - The company reported a 199.54% increase in investment income, totaling ¥298.48 million, attributed to higher returns from financial products[8] - The total assets at the end of the reporting period were ¥1,004,309,113.55, up 4.33% from ¥962,583,989.34 at the end of the previous year[4] - The total assets increased to CNY 1,004,309,113.55, up from CNY 962,583,989.34, indicating a growth of 4.4%[18] - The total liabilities rose to CNY 264,816,442.66, compared to CNY 256,665,812.73, marking an increase of 3.9%[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 30,289[11] - The largest shareholder, Yin Zhenglong, holds 26.89% of shares, totaling 48,505,734 shares[11] - The total number of restricted shares held by Yin Zhenglong remains at 36,379,300 due to executive lock-up and incentive restrictions[13] - The company has a total of 39,265,101 restricted shares, with 1,947,343 shares released during the period[14] - The top ten shareholders include Shanghai Fosun Pharmaceutical Industry Development Co., holding 11.19% of shares[11] Other Financial Metrics - The company's basic earnings per share increased to ¥0.19, up 11.76% from ¥0.17 in the same period last year[4] - Accounts receivable increased by 85.55% to ¥107,045,000, primarily due to increased sales[7] - Inventory decreased to ¥73,417,708.26 from ¥77,770,805.72, a decline of 5.8%[16] - The company reported a total of 21,377,387.98 in accounts receivable financing, down from ¥36,701,435.94[16] - The company's cash and cash equivalents at the end of the period amount to ¥159,009,263.05, an increase from ¥141,263,215.31 at the beginning of the year[16] Strategic Outlook - The company has not disclosed any new strategies or future outlook in the provided documents[12]

Financial Performance - The company's operating revenue for 2021 was ¥616,707,253.38, representing a 16.10% increase compared to ¥531,196,557.09 in 2020[18]. - The net profit attributable to shareholders for 2021 was ¥89,253,357.77, a decrease of 4.99% from ¥93,942,642.96 in 2020[18]. - The net profit after deducting non-recurring gains and losses was ¥79,358,791.40, down 5.53% from ¥84,004,627.58 in the previous year[18]. - The net cash flow from operating activities increased by 21.36% to ¥103,823,162.32 from ¥85,551,579.27 in 2020[18]. - The total assets at the end of 2021 were ¥962,583,989.34, reflecting a 6.85% increase from ¥900,871,586.44 at the end of 2020[18]. - The net assets attributable to shareholders increased by 9.36% to ¥640,000,201.75 from ¥585,208,911.21 in 2020[18]. - The basic earnings per share for 2021 were ¥0.49, a decrease of 7.55% from ¥0.53 in 2020[18]. - The weighted average return on equity was 14.76%, down from 17.00% in the previous year[18]. - The company achieved operating revenue of 616.71 million yuan in 2021, representing a year-on-year growth of 16.1%[52]. - The net profit attributable to shareholders was 89.25 million yuan, a decrease of 4.99% compared to the previous year[52]. Market and Industry Insights - The pharmaceutical manufacturing industry in China achieved a revenue growth of 20.1% in 2021, with total profits increasing by 77.9%[30]. - The domestic pharmaceutical excipients market is projected to reach ¥140.6 billion by 2025, indicating significant growth potential[31]. - The global pharmaceutical excipients market is expected to reach $85.3 billion by 2023, highlighting the industry's expansion opportunities[31]. - The Chinese pharmaceutical market's growth is driven by factors such as an aging population and government policies encouraging the development of high-end formulations[30]. - The domestic market is gradually replacing imported excipients, driven by improved quality and cost advantages of local products[44]. Research and Development - The company holds 16 national invention patents and has applied for 2 additional patents during the reporting period[54]. - The company has developed 4 new pharmaceutical excipients, including anhydrous calcium hydrogen phosphate and microcrystalline cellulose carboxymethyl cellulose sodium[54]. - The company is focusing on technological innovation to meet the increasing demands for quality and cost in the pharmaceutical excipients industry[31]. - The company’s R&D investment amounted to ¥26,800,984.71 in 2021, representing 4.35% of total revenue, an increase from 3.41% in 2020[70]. - The company’s R&D team collaborates with several universities to enhance innovation and accelerate technology transfer[49]. Operational Strategies - The company has established a strict supplier selection standard, ensuring quality and stability in raw material procurement, which is crucial for maintaining production efficiency[37]. - The procurement strategy includes centralized purchasing for bulk raw materials to minimize costs and ensure quality, aligning with production plans[37]. - The company aims to expand its market presence through strategic partnerships and potential acquisitions in the pharmaceutical sector[36]. - The company emphasizes direct sales to downstream pharmaceutical and health product manufacturers, with a small portion of sales through distributors[39]. - The company is actively seeking to expand its international market presence, aiming to enhance the influence of Chinese pharmaceutical excipient brands through various international certifications[94]. Risk Management - The company faces risks including raw material price fluctuations and increased competition, which may impact future performance[5]. - The company recognizes the risk of raw material price fluctuations, particularly for corn starch and other agricultural products, which could adversely affect production costs and profit margins[98]. - The company is aware of the increased costs associated with international trade, including rising shipping fees and currency fluctuations, which could impact export profitability[99]. - The ongoing COVID-19 pandemic poses risks to production and international sales, with significant increases in raw material prices[101]. Corporate Governance - The governance structure of the company complies with relevant laws and regulations, ensuring fair treatment of all shareholders[110]. - The company has maintained independent operations, free from interference by controlling shareholders, ensuring the protection of minority shareholder interests[111]. - The company has established a comprehensive internal control system to ensure effective governance and risk management[115]. - The board of directors consists of 9 members, including 3 independent directors, meeting legal requirements[112]. - The company has a dedicated investor relations management system to improve transparency and protect shareholder rights[114]. Environmental Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[170]. - The total COD emissions for the company were reported at 113,492 kg, with a discharge concentration of 163.3 mg/l, well below the standard of 500 mg/l[170]. - The company has implemented measures to ensure that all emissions are within regulatory limits, with no instances of exceeding discharge standards reported[170]. - The wastewater treatment system at Qufu Tianli Pharmaceutical Auxiliary Materials Co., Ltd. has a designed capacity of 1,000 tons per day and has been operating normally, meeting discharge standards[173]. - The company has committed to energy conservation and emission reduction, setting annual targets and measures to continuously promote technological upgrades and reduce resource consumption[181]. Employee Relations - The company has maintained a harmonious labor relationship, ensuring employee rights and benefits through various welfare programs[179]. - The total number of employees at the end of the reporting period was 885, with 666 in the parent company and 219 in major subsidiaries[150]. - The company has established a differentiated salary system based on job value and professional capabilities[151]. - The company has a total of 573 production personnel, 78 sales personnel, 170 technical personnel, 14 financial personnel, and 50 administrative personnel[150]. - The company has implemented a stock incentive plan, granting 1,643,100 restricted stocks to 96 incentive objects[159].

Financial Performance - The company's revenue for Q3 2021 reached ¥140,712,067.80, representing a 16.11% increase year-over-year, while the year-to-date revenue was ¥446,238,820.02, up 17.77% compared to the same period last year [3] - Net profit attributable to shareholders for Q3 2021 was ¥19,276,546.61, a 5.28% increase year-over-year, and the year-to-date net profit was ¥72,541,670.80, reflecting a 6.11% growth [3] - The net profit after deducting non-recurring gains and losses for Q3 2021 was ¥15,754,255.48, down 2.83% year-over-year, while the year-to-date figure was ¥63,960,742.23, up 4.55% [3] - Total operating revenue for the third quarter reached CNY 446,238,820.02, an increase from CNY 378,905,903.21 in the previous period [25] - Net profit for the period was CNY 70,859,435.00, compared to CNY 68,658,514.61 in the same period last year, reflecting a growth of approximately 3.2% [26] - The total comprehensive income attributable to the parent company was CNY 72,541,670.80, an increase from CNY 68,366,538.27 in the previous period, reflecting a growth of approximately 3.2% [27] - Basic and diluted earnings per share both increased to CNY 0.40 from CNY 0.38, representing a rise of 5.3% [27] Cash Flow and Investments - The company's cash flow from operating activities for the year-to-date period increased by 137.68% to ¥37,398,682.03 [3] - Cash flow from operating activities generated a net cash inflow of CNY 37,398,682.03, compared to CNY 15,734,624.94 in the previous period, indicating a significant increase of 137.5% [30] - The net cash flow from investing activities for the year-to-date period was -¥13,309,900, an increase of 67.24% compared to the previous year [12] - Total cash inflow from investment activities was CNY 231,602,572.86, down from CNY 298,392,792.65, a decrease of approximately 22.3% [30] - Cash outflow from investment activities totaled CNY 244,912,451.34, compared to CNY 339,018,255.42 in the previous period, showing a reduction of about 27.8% [30] - The net cash flow from financing activities was -CNY 55,983,425.39, worsening from -CNY 14,135,960.23 in the previous period [31] - The ending balance of cash and cash equivalents was CNY 63,709,279.69, an increase from CNY 49,823,686.76, reflecting a growth of 28.0% [31] - The company reported cash received from the sale of goods and services amounting to CNY 369,585,368.55, compared to CNY 321,801,711.02 in the previous period, marking an increase of approximately 14.8% [28] Assets and Liabilities - Total assets at the end of the reporting period were ¥903,917,325.51, a slight increase of 0.34% from the end of the previous year [4] - The company's total assets increased to CNY 903,917,325.51 from CNY 900,871,586.44, showing a slight growth [23] - Current liabilities decreased to CNY 186,865,796.51 from CNY 217,553,295.34, indicating improved liquidity [22] - The total liabilities decreased to CNY 219,989,265.01 from CNY 245,696,995.30, reflecting a reduction in debt levels [22] - The company's equity attributable to shareholders rose to CNY 615,759,922.51 from CNY 585,208,911.21, indicating a strengthening financial position [23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 14,820 [14] - The largest shareholder, Yin Zhenglong, holds 26.88% of the shares, totaling 48,505,734 shares [14] - The second-largest shareholder, Shanghai Fosun Pharmaceutical Industry Development Co., Ltd., holds 11.19% with 20,195,430 shares [15] - The total number of restricted shares at the end of the period is 39,754,801, with 470,586 shares newly restricted [16] - The company has a total of 39,284,215 restricted shares at the beginning of the period, with no shares released during this period [18] Expenses and Costs - The company's management expenses for the year-to-date period rose by 36.83% to ¥21,643,200, mainly due to increased stock incentive expenses [11] - Total operating costs amounted to CNY 374,918,444.79, up from CNY 307,775,827.22 year-on-year [25] - Payments to employees increased to CNY 58,088,612.64 from CNY 45,930,513.30, representing a rise of 26.5% [30] - Research and development expenses increased to CNY 16,381,375.50 from CNY 13,051,760.34, highlighting a focus on innovation [25] Market and Strategic Focus - The company continues to focus on "comprehensive upgrading and replacing imports," adjusting product prices and expanding market efforts despite rising raw material costs [7] - The company has not disclosed any new product developments or market expansion strategies in the current report [19] - There is no information regarding mergers or acquisitions in the latest financial report [19] - The company has not provided future performance guidance or outlook in the current report [19] Other Financial Metrics - The company reported a profit before tax of CNY 81,814,013.96, compared to CNY 79,379,465.26 in the previous year, showing a positive trend in profitability [26] - The company reported a significant increase in fair value changes of financial assets, with a year-to-date figure of ¥786,300, up 904.85% year-over-year [11] - The company's cash and cash equivalents as of September 30, 2021, amount to ¥85,453,960.78, down from ¥109,320,903.74 at the end of 2020 [20] - Accounts receivable increased to ¥87,098,518.51 from ¥43,658,450.97 year-over-year [20] - Inventory levels rose to CNY 59,400,808.21 from CNY 48,855,937.68, suggesting increased production or stockpiling [21]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 305,526,752.22, representing an increase of 18.55% compared to CNY 257,715,068.45 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was CNY 53,265,124.19, up by 6.41% from CNY 50,057,446.13 in the previous year[21]. - The net cash flow from operating activities increased significantly by 76.15%, reaching CNY 44,783,605.11 compared to CNY 25,423,456.80 in the same period last year[21]. - The basic earnings per share rose to CNY 0.30, reflecting a growth of 7.14% from CNY 0.28 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 48,206,486.75, which is a 7.22% increase from CNY 44,960,895.08 in the same period last year[21]. - The company achieved total operating revenue of 305.53 million yuan, an increase of 18.55% year-on-year, with a net profit attributable to shareholders of 53.27 million yuan, up 6.41%[35]. - The company reported a significant increase in user data, with a total of 1.78 million users engaged with its products[168]. - The total comprehensive income for the first half of 2021 was approximately 48.22 million yuan, reflecting a significant increase compared to the previous period[177]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 900,578,474.75, a slight decrease of 0.03% from CNY 900,871,586.44 at the end of the previous year[21]. - The total amount of entrusted financial management was ¥19,000,000, with no overdue amounts reported[58]. - The company's total liabilities decreased to CNY 236,306,665.46 from CNY 245,696,995.30, representing a decline of 3.06%[142]. - The company's total liabilities at the end of the reporting period were approximately 793.56 million yuan, indicating a manageable debt level[178]. Research and Development - The company's R&D investment increased by 29.44% to ¥11,205,938.48 from ¥8,657,180.75 in the previous year[45]. - The company holds 16 national invention patents related to pharmaceutical excipients, enhancing its R&D capabilities[40]. - The company is focusing on enhancing its research and development capabilities to drive innovation in its product offerings[166]. Market Position and Products - The company specializes in the research, production, and sales of pharmaceutical excipients, ranking among the top suppliers in China for oral solid dosage forms[28]. - Key products include microcrystalline cellulose, hydroxypropyl cellulose, and sodium carboxymethyl starch, which have been recognized as high-tech products in Anhui Province[28]. - The company has diversified its product range from 5 to 30 varieties, enhancing its competitiveness in the pharmaceutical excipient industry[38]. - The company is a leading domestic producer of pharmaceutical excipients, with a supply scale ranking among the top in the industry, offering 30 varieties and over 70 specifications[42]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[83]. - The COD discharge after treatment was 182 mg/l, below the standard of 500 mg/l, with a total discharge of 50,183 kg[83]. - The company has implemented a stock incentive plan approved by the shareholders meeting on November 20, 2020[79]. - The company has a wastewater treatment system with a designed capacity of 1,000 tons per day, which is currently operating normally and meets discharge standards[86]. Strategic Plans - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company plans to continue expanding its market presence and investing in new product development in the upcoming quarters[177]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product portfolio[166]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,876[125]. - The total number of shares before the change was 180,467,070, with no new shares issued or other changes[120]. - The company reported a significant shareholder equity change, with a holding ratio dropping below 5% on June 25, 2021[116]. Financial Reporting - The semi-annual financial report for the company has not been audited[97]. - The financial statements are prepared based on the going concern assumption and comply with the latest accounting standards issued by the Ministry of Finance[187]. - The consolidated financial statements are prepared based on the accounting policies and periods consistent with the company[200].

Financial Performance - Revenue for Q1 2021 reached ¥172,457,902.67, an increase of 37.80% compared to ¥125,148,306.34 in the same period last year[8] - Net profit attributable to shareholders was ¥31,114,589.36, up 30.46% from ¥23,850,090.72 year-on-year[8] - Basic earnings per share increased to ¥0.17, representing a growth of 30.77% compared to ¥0.13 in the previous year[8] - Operating revenue for the reporting period was RMB 172.46 million, a year-on-year increase of 37.80%, mainly driven by higher sales[22] - Net profit attributable to shareholders of the parent company was RMB 31.11 million, reflecting a year-on-year increase of 30.46% due to increased sales revenue[23] - The net profit after deducting non-recurring gains and losses was CNY 28.08 million, reflecting a 29.92% increase year-on-year[25] - The total comprehensive income for the first quarter was CNY 31,106,025, an increase from CNY 23,061,980 in the same period last year, representing a growth of approximately 35.5%[54] Cash Flow - Net cash flow from operating activities improved significantly to ¥3,109,006.22, a turnaround from a negative cash flow of -¥6,381,400.17 in the same period last year, marking a 148.72% increase[8] - Cash inflow from operating activities totaled CNY 126,903,305, up from CNY 97,995,359, marking an increase of about 29.5% year-over-year[57] - The company reported cash outflow from operating activities of CNY 123,794,299, compared to CNY 104,376,759 in the previous year, reflecting an increase of approximately 18.6%[57] - The net cash flow from investment activities was CNY 12,200,610, a rise from CNY 3,925,110, indicating a growth of about 211.5% year-over-year[58] - The cash and cash equivalents at the end of the period amounted to CNY 110,562,309, compared to CNY 90,597,448 at the end of the previous year, representing an increase of approximately 22%[58] Assets and Liabilities - Total assets at the end of the reporting period were ¥945,213,083.54, reflecting a 4.92% increase from ¥900,871,586.44 at the end of the previous year[8] - Total liabilities increased to CNY 258,050,426.59 from CNY 245,696,995.30, which is an increase of approximately 5.5%[41] - Total liabilities rose to ¥204,871,933.51 from ¥197,131,607.14, reflecting an increase in financial obligations[48] - The total equity attributable to shareholders rose to CNY 617,599,401.85 from CNY 585,208,911.21, indicating an increase of about 5.5%[42] Shareholder Information - The total number of shareholders at the end of the reporting period was 12,548, indicating a stable shareholder base[12] - The top shareholder, Yin Zhenglong, holds 26.88% of the shares, with a total of 48,505,734 shares[12] Research and Development - Research and development expenses amounted to RMB 5.98 million, a year-on-year increase of 49.25%, indicating increased investment in R&D[22] - Research and development expenses for the quarter were ¥5,977,315.53, compared to ¥4,004,768.03, highlighting a focus on innovation[48] Market and Operational Risks - The company faces risks from fluctuations in raw material prices, which could impact profit margins[26] - The company plans to enhance product quality and service levels to mitigate the impact of rising raw material costs[27] - The international market expansion is a strategic focus, with potential risks related to legal and regulatory understanding in foreign markets[26] - The company has established an international trade department to address potential political and legal risks in international operations[28] - The company emphasizes continuous R&D investment and innovation to maintain its competitive edge amid increasing market competition[28] Other Financial Metrics - Financial expenses increased by 153.38% to RMB 0.0472 million, primarily due to higher borrowing costs[22] - The company reported a significant increase in other non-current assets, which reached RMB 10.13 million, up 573.06% compared to the beginning of the period[20] - Deferred income increased to ¥29,823,764.98 from ¥22,965,126.04, indicating growth in future revenue recognition[48]

Financial Performance - The company's operating revenue for 2020 was CNY 531,196,557.09, representing a 14.47% increase compared to CNY 464,067,090.69 in 2019[16]. - The net profit attributable to shareholders for 2020 was CNY 93,942,642.96, an increase of 11.35% from CNY 84,370,512.97 in 2019[16]. - The net profit after deducting non-recurring gains and losses was CNY 84,004,627.58, up 12.88% from CNY 74,418,762.80 in 2019[16]. - The basic earnings per share for 2020 was CNY 0.53, a 12.77% increase from CNY 0.47 in 2019[16]. - The total assets at the end of 2020 were CNY 900,871,586.44, reflecting an 11.20% increase from CNY 810,166,507.12 at the end of 2019[16]. - The net assets attributable to shareholders increased to CNY 585,208,911.21, an 11.30% rise from CNY 525,776,925.46 in 2019[16]. - The net cash flow from operating activities was CNY 85,551,579.27, a 7.65% increase compared to CNY 79,474,814.12 in 2019[16]. - The weighted average return on equity for 2020 was 17.00%, up from 16.47% in 2019[16]. - The company reported a total net profit of 93,942,542.96 for the entire year, with a year-over-year increase of approximately 8.5% compared to the previous year[18]. Revenue and Sales - The company's total revenue for Q4 was 152,290,653.88, showing a significant increase compared to Q3's 121,190,834.76, representing a growth of approximately 25.7%[18]. - The company achieved a total revenue of 531.2 million yuan in 2020, representing a year-on-year increase of 67.13 million yuan, or 14.47%[32]. - The company reported a total sales volume of 34,061.7 tons in the pharmaceutical manufacturing sector, reflecting a year-on-year increase of 9.69%[54]. - The company's cellulose and its derivatives products generated revenue of CNY 236.24 million, accounting for 44.47% of total revenue, with a year-on-year growth of 20.71%[50]. - The company’s overseas revenue increased by 31.00% year-on-year, reaching CNY 58.60 million, which accounted for 11.03% of total revenue[50]. Dividend Policy - The company plans to distribute a cash dividend of CNY 2.5 per 10 shares to all shareholders, based on a total of 180,467,070 shares[5]. - The cash dividend distribution plan for 2020 is set at RMB 2.50 per 10 shares, totaling RMB 45,116,767.50[94]. - The cash dividend represents 100% of the total distributable profit of RMB 92,602,226.73[94]. - The company has a policy to distribute at least 20% of the distributable profit as cash dividends when there are no major capital expenditures planned[92]. - The cash dividend for 2019 was 34,389,225.0 CNY, which accounted for 40.76% of the net profit attributable to ordinary shareholders[98]. Market Position and Strategy - The company specializes in the research, production, and sales of pharmaceutical excipients, ranking among the top suppliers in China for oral solid dosage forms[25]. - The company is positioned as a leading manufacturer of pharmaceutical excipients for oral solid dosage forms in China, with a focus on innovation and product structure optimization[34]. - The company is focused on expanding its market presence and enhancing its product offerings in the pharmaceutical and food industries[25]. - The company aims to enhance its product offerings by focusing on multifunctional excipients, which are becoming increasingly important in drug formulations[75]. - The company plans to adopt a growth strategy that includes both internal growth and external expansion, aiming to enhance its competitive edge in the pharmaceutical excipient market[34]. Research and Development - The company emphasizes the importance of research and application of new pharmaceutical excipients, which have been recognized as a key area for development by national authorities[33]. - The company has developed its pharmaceutical excipients product line from 5 to 30 varieties and over 70 specifications, establishing itself as a leading manufacturer in the industry[38]. - The company has obtained one invention patent and filed four additional invention patents during the reporting period[60]. - The company has received multiple awards for its products, including "Excellent Product Brand" in the chemical pharmaceutical industry[25]. - The company is committed to corporate social responsibility, ensuring employee income growth alongside economic benefits and increasing investment in community welfare[79]. Risks and Challenges - The company faces risks including raw material price fluctuations, intensified competition, and management risks due to expansion[5]. - The company faces risks from fluctuations in raw material prices, which could significantly reduce gross margins; however, it plans to mitigate this by improving product quality and service levels[82]. - The company is actively expanding into international markets, which presents risks related to legal, regulatory, and currency fluctuations; it will establish an international trade department to address these challenges[83]. Corporate Governance and Management - The company has established a governance structure to manage risks associated with rapid expansion, focusing on enhancing management capabilities and professional talent recruitment[85]. - The company has a strong leadership team with extensive experience in the pharmaceutical industry, including the Chairman and General Manager Yin Zhenglong, who has been with the company since its inception[184]. - The company is committed to maintaining high standards in governance by appointing independent directors with significant expertise in the pharmaceutical industry[189]. - The management team includes experienced professionals with backgrounds in finance and pharmaceuticals, enhancing the company's operational capabilities[191]. - The company has established a comprehensive remuneration policy for its directors and senior management, ensuring competitive compensation based on industry standards[195]. Environmental and Social Responsibility - The company has a commitment to environmental protection, being classified as a key pollutant discharge unit[141]. - The company has engaged in various charitable activities, including donations to support impoverished families and educational initiatives[138]. - The company plans to continue its efforts in poverty alleviation and environmental protection in the future[140]. - The company has implemented a comprehensive pollution control strategy, ensuring all new projects adhere to environmental impact assessment regulations[150]. - The company conducts quarterly self-monitoring of environmental conditions, with the first half of 2020 showing all data compliant with standards[148].

Financial Performance - Operating revenue for the current period was CNY 121,190,834.76, up 14.27% year-on-year[8] - Net profit attributable to shareholders decreased by 13.46% to CNY 18,309,092.14 compared to the same period last year[8] - Basic earnings per share decreased by 12.93% to CNY 0.1024[8] - Diluted earnings per share also decreased by 12.93% to CNY 0.1024[8] - Weighted average return on equity was 3.48%, down 0.67% from the previous year[8] - The company reported a net cash decrease of RMB 39.39 million, a year-on-year decrease of 162.44%, primarily due to cash flow increases from operating and financing activities[23] - Net profit for the period was CNY 17,892,269.14, a decrease from CNY 23,313,825.96 in the same quarter last year, representing a decline of approximately 23.5%[43] - Earnings per share (EPS) for the quarter was CNY 0.1024, down from CNY 0.1176 in the previous year[44] - The company reported a profit before tax of CNY 79,379,465.26, an increase from CNY 76,223,323.06 in the previous year, showing a growth of 2.83%[51] - The total comprehensive income for the quarter was CNY 68,658,514.61, compared to CNY 66,556,862.15 in the same period last year, marking a 3.16% increase[53] Assets and Liabilities - Total assets increased by 2.87% to CNY 833,386,822.34 compared to the end of the previous year[8] - Total liabilities decreased to CNY 202,396,510.66 from CNY 213,592,625.98, a reduction of about 5.5%[35] - Current assets totaled CNY 412,344,918.38, up from CNY 380,901,424.79 at the end of 2019, reflecting a growth of approximately 8.5%[33] - Total limited shares at the end of the reporting period were 38,139,164 shares, with 8,801,345 shares released from restrictions during the period[17] - The total assets amounted to ¥810,166,507.12, with a slight increase from ¥810,124,444.25 in the previous year[70] - The total liabilities were ¥213,592,625.98, showing a minor increase from ¥213,550,563.11 in the previous year[70] - The total equity attributable to shareholders was ¥525,776,925.46, unchanged from the previous year[70] Cash Flow - Net cash flow from operating activities was negative at CNY -9,688,831.86, a decrease of 164.29%[8] - Operating cash flow net amount for the reporting period was RMB 15.73 million, a decrease of 54.65% year-on-year, primarily due to increased cash payments for goods[23] - Investment cash flow net amount for the reporting period was RMB -40.63 million, a decrease of 306.28% year-on-year, mainly due to reduced cash inflows from matured financial products[23] - Cash flow from operating activities generated CNY 15,734,624.94, a decrease of 54.7% from CNY 34,692,498.26 in the previous year[60] - Cash flow from investment activities was negative at CNY -40,625,462.77, worsening from CNY -9,999,343.16 year-over-year[61] - Cash flow from financing activities resulted in a net outflow of CNY -14,135,960.23, compared to CNY -39,701,762.81 in the same period last year[61] Shareholder Information - The total number of shareholders at the end of the reporting period was 8,909[12] - The company has a total of CNY 24,765,761.38 in deferred income, which may indicate future revenue recognition opportunities[73] - The company has a total of CNY 3,700,509.99 in contract liabilities, suggesting ongoing commitments to customers[73] Expenses - Sales expenses for the reporting period were RMB 13.22 million, a year-on-year decrease of 48.7%, mainly due to the reclassification of transportation costs into operating costs[22] - Research and development expenses for the quarter were CNY 4,394,579.59, slightly up from CNY 4,242,879.71 year-over-year[42] - The company reported a financial expense of CNY 740,806.07, compared to a financial income of CNY -203,148.48 in the previous period[42] - Sales expenses decreased to CNY 13,218,369.30 from CNY 25,766,229.82, indicating improved cost management[51] Investment Activities - The company reported non-recurring gains and losses totaling CNY 7,192,194.91 for the year-to-date period[10] - The company’s investment income for the quarter was CNY 2,962,723.64, down from CNY 4,034,308.34, suggesting a need for strategic review in investment activities[51]

Financial Performance - The company's operating income for the first half of 2020 was ¥257,715,068.45, representing a 15.71% increase compared to ¥222,717,725.15 in the same period last year[20]. - The net profit attributable to shareholders was ¥50,057,446.13, which is a 21.90% increase from ¥41,065,588.46 in the previous year[20]. - The net cash flow from operating activities increased by 29.56%, reaching ¥25,423,456.80 compared to ¥19,622,950.03 in the same period last year[20]. - Basic earnings per share rose to ¥0.28, up 21.74% from ¥0.23 in the previous year[20]. - Total assets at the end of the reporting period were ¥841,003,767.55, a 3.81% increase from ¥810,166,507.12 at the end of the previous year[20]. - The net assets attributable to shareholders increased by 3.07%, amounting to ¥541,897,329.52 compared to ¥525,776,925.46 at the end of the previous year[20]. - The company achieved total revenue of CNY 257.72 million, a year-on-year increase of 15.71%[37]. - Net profit attributable to shareholders reached CNY 50.06 million, up 21.90% compared to the same period last year[37]. - The gross profit margin improved due to stable revenue growth and price adjustments of certain products[37]. - The company reported a significant increase in cash flow from operating activities, with a net cash flow of CNY 25.42 million, up 29.56% year-on-year[42]. Assets and Liabilities - Cash and cash equivalents at the end of the reporting period amounted to ¥112,614,168, representing 13.39% of total assets, an increase of 0.39% compared to the previous year[48]. - Accounts receivable reached ¥67,615,752, accounting for 8.04% of total assets, up by 1.14% year-on-year[48]. - Inventory increased to ¥50,163,992, making up 5.96% of total assets, a rise of 1.33% from the previous year[48]. - Fixed assets grew significantly to ¥329,367,704, representing 39.16% of total assets, an increase of 12.50% compared to the previous year[48]. - Total liabilities increased to CNY 227,571,070.19 from CNY 213,592,625.98, marking a rise of about 6.5%[149]. - The company's equity attributable to shareholders reached CNY 541,897,329.52, up from CNY 525,776,925.46, reflecting an increase of approximately 3.1%[150]. Market and Product Development - The company has expanded its product range from 5 to 26 varieties and over 70 specifications, becoming one of the leading manufacturers in the pharmaceutical excipients industry[29]. - The company holds 15 national invention patents, including methods for preparing hydroxypropyl cellulose and cross-linked carboxymethyl cellulose sodium[31]. - The company has established a strong marketing network with over 2,000 pharmaceutical manufacturers as clients, exporting to countries including Germany, the UK, and the US[32]. - The company actively expanded into high-end markets and new markets, enhancing its product quality and brand recognition internationally[38]. - The company has completed registration for 26 products with the National Medical Products Administration, enhancing its service offerings to clients[39]. Risks and Challenges - The company faces risks including raw material price fluctuations and intensified competition, which may impact market conditions[5]. - The company faces risks from fluctuations in raw material prices, which could impact profit margins, and plans to enhance product quality and service to mitigate these risks[60]. - The company is focusing on international market expansion, which presents risks related to legal and regulatory understanding, and is taking measures to strengthen its capabilities in these areas[61]. - The rapid expansion of the company's operations has increased management demands, potentially leading to management risks if not properly addressed[64]. Corporate Governance and Social Responsibility - The company plans to continuously improve its governance structure and strengthen internal controls to enhance management effectiveness[64]. - The company is actively fulfilling its corporate social responsibility by donating cash and materials to support pandemic relief efforts[63]. - The company has engaged in various investor communication activities, including phone calls and site visits, to discuss its performance and strategies[65]. - The company actively participates in poverty alleviation efforts, providing assistance to impoverished individuals in Huainan City[109]. - Total funding for poverty alleviation amounted to CNY 612,800 (61.28 million)[111]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[101]. - The company has achieved compliance with environmental discharge standards for various pollutants, including COD and ammonia nitrogen[101]. - The wastewater treatment system has a designed capacity of 1,000 tons per day, and it has been operating normally with all discharge water quality meeting standards[104]. - The company has implemented a self-monitoring plan, with quarterly monitoring conducted by a qualified third-party testing agency, confirming compliance with environmental standards[107]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,383[125]. - The largest shareholder, Yin Zhenglong, holds 26.76% of the shares, with a total of 36,225,475 shares after a recent increase[126]. - The company repurchased a total of 1,643,100 shares, accounting for 1.18% of total shares, with a total transaction amount of ¥25,101,610.64[120]. - The total number of shares held by the board members and senior management at the end of the reporting period was 50,464,500 shares[139].