Financial Performance - The company's operating revenue for 2020 was ¥1,188,603,424.51, representing a 25.10% increase from ¥950,095,207.86 in 2019[22]. - The net profit attributable to shareholders for 2020 was ¥407,450,895.97, a 35.30% increase compared to ¥301,147,028.57 in 2019[22]. - The net profit after deducting non-recurring gains and losses was ¥380,235,764.93, up 34.14% from ¥283,461,483.69 in 2019[22]. - The net cash flow from operating activities reached ¥332,075,817.29, marking a 54.19% increase from ¥215,374,300.86 in 2019[22]. - The total assets at the end of 2020 were ¥3,055,999,316.62, a 77.64% increase from ¥1,720,306,871.36 at the end of 2019[22]. - The net assets attributable to shareholders increased to ¥2,039,151,308.69, up 77.95% from ¥1,145,941,429.17 at the end of 2019[22]. - In 2020, the company achieved operating revenue of CNY 1,188.60 million, a year-on-year increase of 25.10%[77]. - The net profit attributable to shareholders reached CNY 407.45 million, up 35.30% year-on-year[77]. - Total assets increased by 77.64% to CNY 3,055.99 million, while net assets rose by 77.95% to CNY 2,039.15 million[77]. Dividend Distribution - The company plans to distribute a cash dividend of 1.87 RMB per 10 shares to all shareholders, based on a total of 437,029,279 shares[6]. - The cash dividend for the year is set at 1.87 yuan per 10 shares, totaling 81,724,475.17 yuan (including tax)[160]. - The total cash dividend distributed was RMB 81,724,475.17, representing 20.06% of the net profit attributable to shareholders[166]. - The company reported a distributable profit of RMB 842,731,626.18 for the year 2020[163]. - Over the past three years, the cash dividend distribution has been consistent, with 20.07% in 2019 and 21.20% in 2018[166]. - The company has not proposed any cash dividend distribution plan for the current reporting period despite having positive distributable profits[166]. - The cash dividend for 2019 was RMB 60,448,142.91, also representing 20.07% of the net profit attributable to shareholders[166]. - The cash dividend for 2018 was RMB 38,467,050.30, which accounted for 21.20% of the net profit attributable to shareholders[166]. Research and Development - The company has 70+ ongoing projects, including generic drugs and new drug formulations[35]. - The company’s R&D strategy focuses on new product development, with a complete R&D process from project selection to registration management[69]. - In 2020, the company increased R&D personnel by 24.81%, significantly higher than the overall employee growth rate[82]. - R&D investment amounted to ¥283,151,872.64, representing 23.82% of operating revenue, an increase from 21.51% in 2019[114]. - The company is focusing on transitioning from international generic drugs to international innovative drugs, with a strong foundation built over more than a decade in the generic drug sector[150]. - The company is committed to increasing R&D investment, focusing on high-difficulty generic drugs with good future competitive landscapes[152]. - The company has a robust pipeline of ongoing R&D projects, which are expected to provide potential growth points domestically and internationally[69]. - The company has 38 projects currently under review for registration, primarily in the fields of cardiovascular, infectious, and digestive system diseases[89]. Market Expansion and Sales - The marketing network covers thousands of hospitals and medical institutions across China, with over a thousand distributors and delivery partners[35]. - The company has established a marketing network covering over 15,000 medical institutions across all provinces, cities, and autonomous regions in China, including more than 3,700 secondary and higher-level hospitals[69]. - The company has signed exclusive sales contracts with multiple distributors in Europe and the United States, expanding its international market presence[69]. - The company is actively pursuing market expansion with multiple projects under review in countries including China, the United States, Canada, and the European Union[89][91]. - The company plans to enhance its supply chain efficiency, aiming to reduce costs by 8% over the next year[175]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million RMB allocated for potential M&A activities[175]. - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing drug efficacy and reducing side effects[175]. Compliance and Risk Management - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute substantive commitments to investors[6]. - The company has faced potential risks in its operations, including industry policies, price reductions in bidding, and unmet expectations in drug development[6]. - The company faces risks including R&D failures, loss of core technical personnel, and challenges in adapting to changes in the healthcare system[153]. - The company is actively promoting consistency evaluations for its products, as failure to comply could adversely affect future operations[156]. - The company emphasizes the importance of maintaining product quality, as any issues could impact its market reputation and operational stability[153]. Corporate Governance - The company operates under the supervision of a certified accounting firm, Tianjian Accounting Firm, ensuring the accuracy and completeness of financial reports[21]. - The company has maintained a continuous relationship with Tianjian Accounting Firm for 8 years, with an audit fee of 900,000 RMB[191]. - The company’s management has committed to compensating investors for losses due to any misleading statements in the prospectus[182]. - The company’s board and senior management pledged to restrict personal consumption behaviors and not misuse company assets for unrelated investments[180]. - The company has not faced any bankruptcy reorganization matters during the reporting period[192]. Production and Quality Control - The company has established a comprehensive GMP management system in compliance with standards set by the FDA, EMA, WHO, and NMPA, ensuring standardized production processes[50]. - The company implements strict quality control measures throughout the drug development and production process, ensuring compliance with high-quality standards[61]. - Quality inspections are mandatory for all incoming materials, ensuring compliance with national and internal standards before acceptance into inventory[46]. - The company has obtained multiple GMP/cGMP certifications for its products, demonstrating its commitment to maintaining high-quality manufacturing practices[62]. Investment and Asset Management - The company has increased its investment in construction projects for factories in Hainan, Zhejiang, and Anhui, contributing to the growth of its fixed assets[57]. - The total investment amount for the reporting period was ¥688,216,686.75, representing a 154.12% increase compared to ¥270,822,055.22 in the previous year[127]. - The company has ongoing major non-equity investments, including a project for producing 1.5 billion dosage forms, with an investment of ¥2,344,846.75 and a cumulative investment of ¥404,283,000[127]. - The company has raised a total of ¥85,430.53 million through public offerings, with ¥47,143.12 million utilized in the current period[133]. - The company has ongoing projects for the construction of various production lines, with total investments amounting to ¥688,216,686.75 and cumulative actual investments of ¥1,503,874,685.28[130].

Financial Performance - The company's revenue for Q1 2021 was ¥273,392,371.83, representing a 60.03% increase compared to ¥170,838,521.57 in the same period last year[10] - Net profit attributable to shareholders was ¥121,239,486.28, up 51.40% from ¥80,080,883.58 year-on-year[10] - Basic earnings per share rose to ¥0.24, a 33.33% increase from ¥0.18 in the same period last year[10] - The company achieved total operating revenue of CNY 273,392,371.83 in Q1 2021, representing a year-on-year growth of 60.03%[23] - The net profit attributable to shareholders increased by 51.40% year-on-year, reaching CNY 121,239,486.28[23] - The total comprehensive income for the period was CNY 121,239,486.28, compared to CNY 80,080,883.58 in the previous period, representing an increase of approximately 51.5%[70] Cash Flow and Liquidity - The net cash flow from operating activities increased by 76.17%, reaching ¥11,299,484.87 compared to ¥6,413,837.93 in the previous year[10] - Cash and cash equivalents rose by 140.41% to CNY 857,425,098.72, primarily due to the proceeds from convertible bond issuance[22] - The company’s cash received from sales increased by 40.66% to CNY 257,236,019.60, indicating improved cash flow from operations[22] - The total cash inflow from operating activities was CNY 271,247,055.22, up from CNY 196,652,351.12, which is an increase of approximately 37.9%[82] - The total cash and cash equivalents at the end of the period reached 856,254,087.18 CNY, up from 108,358,597.61 CNY in the previous period, showing improved liquidity[84] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,987,868,404.28, reflecting a 30.49% increase from ¥3,055,999,316.62 at the end of the previous year[10] - The company reported a total cash inflow from operating activities of CNY 271,247,055.22, up from CNY 196,652,351.12, which is an increase of approximately 37.9%[82] - Current assets totaled approximately CNY 1.71 billion, a significant increase from CNY 1.23 billion as of December 31, 2020, representing a growth of about 38.5%[45] - Total liabilities increased to CNY 1.58 billion from CNY 1.02 billion, reflecting a growth of approximately 55%[51] - The company's equity attributable to shareholders rose to CNY 2.41 billion from CNY 2.04 billion, an increase of about 18.2%[54] Research and Development - Research and development expenses increased by 107.40% to CNY 50,208,146.21, reflecting the company's commitment to enhancing its R&D capabilities[22] - Research and development expenses for the quarter were ¥50,208,146.21, compared to ¥24,208,482.51 in the previous year, showing an increase of approximately 107.5%[64] - Research and development expenses increased to CNY 27,508,965.83 from CNY 14,509,310.61, marking an increase of approximately 89.6%[71] Market and Growth Strategy - The company signed significant orders and continued to expand its domestic and international market presence[23] - The company plans to continue strengthening its competitive position in niche markets while expanding its product sales domestically and internationally[23] - The company plans to continue expanding its market presence and investing in new product development to sustain growth momentum in the upcoming quarters[63] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,397[13] - The largest shareholder, Fan Minhua, holds 33.88% of the shares, totaling 148,083,509 shares[13] Government Support and Compliance - The company received government subsidies totaling ¥3,292,648.97 during the reporting period[10] - The company has no significant changes in project feasibility and no issues with the use of raised funds[35] - The company has no violations regarding external guarantees during the reporting period[39] - The company has no non-operating occupation of funds by controlling shareholders and their affiliates during the reporting period[40]

Financial Performance - Operating revenue for the reporting period was CNY 380,361,561.30, up 48.19% year-on-year[10] - Net profit attributable to shareholders was CNY 126,468,673.99, an increase of 47.15% compared to the same period last year[10] - Basic earnings per share decreased by 6.65% to CNY 0.2894[10] - The weighted average return on net assets was 14.14%, an increase of 5.91% compared to the same period last year[10] - Total operating revenue for the current period reached ¥380,361,561.30, a significant increase from ¥256,663,287.11 in the previous period, representing a growth of approximately 48.2%[72] - Net profit for the current period was ¥126,468,673.99, compared to ¥85,945,705.09 in the previous period, reflecting an increase of approximately 47.1%[78] - The company reported a total profit of ¥128,829,779.04, up from ¥88,747,848.97, indicating an increase of approximately 45%[78] - Total comprehensive income for the current period was ¥284,946,031.60, compared to ¥206,030,166.90 in the previous period, showing an increase of approximately 38.2%[96] Assets and Liabilities - Total assets increased by 61.76% to CNY 2,782,796,362.68 compared to the end of the previous year[10] - Net assets attributable to shareholders increased by 70.80% to CNY 1,957,230,609.07 compared to the end of the previous year[10] - Accounts receivable increased by 48.82% to ¥492,581,129.86 due to revenue growth[26] - Inventory rose by 90.43% to ¥132,760,389.44 as production materials increased[26] - Total assets under construction reached ¥900,677,634.02, a 73.05% increase, attributed to ongoing projects in Hainan, Hangzhou, and Anhui[26] - Current liabilities increased to ¥596,622,942.45 from ¥432,850,178.27, representing a rise of about 37.8%[62] - Total liabilities reached ¥825,565,753.61, up from ¥574,365,442.19, indicating an increase of approximately 43.7%[62] - Shareholders' equity rose to ¥1,957,230,609.07 from ¥1,145,941,429.17, reflecting a growth of about 71.1%[65] Cash Flow - Net cash flow from operating activities increased by 64.40% to CNY 57,821,476.28[10] - Cash received from sales grew by 57.14% to ¥929,064,197.43, driven by increased sales volume[26] - Cash flow from operating activities generated ¥109,210,599.47, compared to ¥74,026,431.15 in the previous period, reflecting an increase of about 47.5%[106] - Cash flow from investing activities showed a net outflow of ¥499,969,800.35, worsening from a net outflow of ¥274,387,542.40 in the previous period[109] - Cash flow from financing activities resulted in a net inflow of ¥623,221,736.79, compared to a net inflow of ¥87,223,211.91 in the previous period, indicating a significant increase[109] Research and Development - Research and development expenses increased by 46.40% to ¥165,400,436.31, reflecting higher investment in R&D[26] - Research and development expenses surged to ¥88,977,141.87, compared to ¥40,575,415.23, marking an increase of about 119.5%[75] - Research and development expenses for the current period amounted to ¥165,400,436.31, compared to ¥112,977,475.88 in the previous period, marking an increase of about 46.5%[89] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,623[14] - The largest shareholder, Fan Minhua, holds 33.89% of the shares, totaling 148,083,509 shares[14] - The company reported a commitment to not seek undue benefits from shareholders or actual controllers, ensuring the protection of the legitimate rights and interests of all shareholders[42] Corporate Governance - The company is committed to adhering to regulatory requirements and maintaining good corporate governance practices[42] - The company has a long-term commitment to maintain operational integrity and transparency in its financial reporting[42] - There were no violations of external guarantees during the reporting period, indicating a stable financial position[50] - The company confirmed that there were no non-operating fund occupations by controlling shareholders or their related parties during the reporting period[51] Market Expansion and Future Guidance - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2021[39] - The company provided a forward guidance of 10% revenue growth for the next quarter, projecting revenues between 1.65 billion RMB and 1.75 billion RMB[39] - New product launches are expected to contribute an additional 200 million RMB in revenue over the next two quarters[39]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 401,680,875.78, representing a 14.16% increase compared to CNY 351,870,637.90 in the same period last year[25]. - Net profit attributable to shareholders for the first half of 2020 was CNY 158,477,357.61, a 31.97% increase from CNY 120,084,461.81 in the previous year[25]. - The net profit after deducting non-recurring gains and losses was CNY 157,608,676.25, which is a 35.76% increase compared to CNY 116,093,670.65 in the same period last year[25]. - The net cash flow from operating activities was CNY 51,389,123.19, up 32.26% from CNY 38,854,637.71 in the previous year[25]. - Basic earnings per share for the first half of 2020 were CNY 0.57, a 29.55% increase from CNY 0.44 in the same period last year[25]. - Total assets at the end of the reporting period were CNY 2,650,613,917.57, reflecting a 54.08% increase from CNY 1,720,306,871.36 at the end of the previous year[25]. - Net assets attributable to shareholders at the end of the reporting period were CNY 1,783,923,003.70, a 55.67% increase from CNY 1,145,941,429.17 at the end of the previous year[25]. - The company achieved a total operating revenue of 401.68 million yuan, an increase of 14.16% year-on-year[45]. - The net profit attributable to shareholders increased by 31.97% compared to the same period last year[45]. - The company's operating income reached approximately ¥208.29 million, with a net profit of approximately ¥41.79 million, representing a significant contribution to the overall net profit[112]. Assets and Investments - The company's fixed assets at the end of the reporting period amounted to 444.6991 million yuan, an increase of 67.8224 million yuan compared to the beginning of the period, representing an 18% year-on-year growth, primarily due to the construction of fundraising projects and other renovation projects[48]. - The company's intangible assets at the end of the reporting period totaled 96.9090 million yuan, an increase of 13.2429 million yuan compared to the beginning of the period, reflecting a year-on-year increase of 15.83%, mainly due to the purchase of related software[51]. - The balance of construction in progress at the end of the reporting period was 847.2119 million yuan, an increase of 326.7374 million yuan compared to the beginning of the period, which is a 62.78% year-on-year increase, primarily due to investments in fundraising projects and other renovation projects[51]. - The total investment during the reporting period was ¥368,715,193.45, a significant increase of 182.48% compared to ¥130,526,655.45 in the same period last year[94]. - The company has invested RMB 13,000 million in bank financial products using idle raised funds, with no overdue amounts[107]. Research and Development - The company is actively involved in the research and development of new drugs, with a focus on controlled-release formulations and technologies for difficult-to-soluble drugs[35]. - The company has increased R&D investment, securing a patent for a new drug formulation, enhancing its competitive edge[68]. - The company is committed to increasing its investment in scientific research and development, particularly in areas such as anti-allergy, anti-tumor, cardiovascular, pediatric, and geriatric medications[73]. - The company has a robust pipeline of products under development, leveraging its technical advantages in taste masking, sustained release, and solubility to innovate and optimize existing formulations[72]. - The company has a structured approach to managing risks associated with research and development in the pharmaceutical sector[118]. Market and Sales - The company has established a marketing network covering over 15,000 medical institutions across China, including more than 3,600 secondary and higher-level hospitals, facilitating effective distribution and sales[55]. - The company has signed exclusive sales contracts with distributors in Europe and the United States, marking a significant step in its international expansion strategy[55]. - The company is focused on new product development as a strategic core, with a robust pipeline of projects that are expected to drive future growth domestically and internationally[55]. - The company has successfully registered multiple products internationally, including desloratadine tablets in Germany and injectable acyclovir in Cyprus, enhancing its global market presence[47]. - The company actively participated in the national "4+7" volume-based procurement, enhancing market access and sales growth[68]. Risks and Challenges - The company has faced risks related to industry policies, price reductions in bidding, and unmet expectations in drug research and development[8]. - The company is closely monitoring policy changes in the pharmaceutical industry, which may impact drug sales due to price control and procurement policies[118]. - The company faces risks related to international trade protectionism, which may affect drug registration and exports[118]. - The company emphasizes the importance of drug quality, as any quality issues could adversely affect its operations and market reputation[118]. Corporate Governance and Compliance - The company has not classified any non-recurring profit items as recurring profit during the reporting period[31]. - The company has committed to a 36-month lock-up period for shares post-IPO, during which no shares will be transferred or managed by others[132]. - The company has outlined specific measures to ensure compliance with its commitments regarding share transfers and competition[147]. - The company will monitor and address any potential conflicts of interest arising from related party transactions[149]. - The company has made commitments regarding the compensation for any false statements in the prospectus, ensuring accountability[161]. Legal Matters - The company reported a significant ongoing litigation with a claim amounting to 5 million yuan related to a contract dispute[171]. - Another ongoing litigation involves a claim of 365.77 million yuan concerning a cooperation agreement with Nanjing Kavin Dishi Biotechnology Co., Ltd.[171]. - There were no major lawsuits or arbitration matters reported during the period[171]. - The half-year financial report has not been audited[169].

Financial Performance - Total revenue for Q1 2020 was CNY 170,838,521.57, an increase of 8.84% compared to CNY 156,959,330.16 in the same period last year[9] - Net profit attributable to shareholders was CNY 80,080,883.58, representing a growth of 14.38% from CNY 70,014,897.74 year-on-year[9] - Net profit excluding non-recurring gains and losses reached CNY 82,095,991.47, up 17.99% from CNY 69,579,855.27 in the previous year[9] - Basic earnings per share (EPS) was CNY 0.2915, a rise of 14.40% from CNY 0.2548 in the same quarter last year[9] - The company reported a total non-current asset of 1,281,116,342.91 CNY as of March 31, 2020, compared to 1,042,316,620.21 CNY at the end of 2019[46] - The company reported a total profit for the current period of ¥82,087,334.90, an increase from ¥73,036,112.42 in the previous period[67] Cash Flow and Liquidity - Operating cash flow for the period was CNY 6,413,837.93, reflecting a significant increase of 34.28% compared to CNY 4,776,420.42 last year[9] - Cash inflow from operating activities was ¥196,652,351.12, up from ¥140,572,226.43 in the previous period, representing an increase of approximately 39.9%[78] - Cash outflow for purchasing goods and services was ¥109,934,733.02, compared to ¥64,715,101.75 in the previous period, reflecting a significant increase of about 70%[81] - The ending balance of cash and cash equivalents was ¥108,358,597.61, up from ¥62,941,378.53 in the previous period[84] - Cash and cash equivalents decreased by 44.73% to CNY 109.97 million due to significant capital expenditure on construction projects[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,911,516,393.02, an increase of 11.11% from CNY 1,720,306,871.36 at the end of the previous year[9] - The total liabilities increased to ¥296,368,235.74 from ¥292,928,415.15, showing a slight rise of approximately 1.5%[59] - The company's total equity rose to ¥1,271,871,943.01, up from ¥1,192,113,456.74, marking an increase of around 6.7%[59] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,810, with the top ten shareholders holding significant stakes[13] - The largest shareholder, Fan Minhua, holds 35.16% of the shares, totaling 96,597,000 shares[13] Investments and Projects - The company has committed a total of 31,435.29 million CNY for investment projects, with a cumulative investment of 31,612.04 million CNY as of the reporting period, achieving an investment progress of 100.56%[31] - The production line for annual formulation products has reached a completion status of 100.30%, with a total investment of 21,500 million CNY[31] - The construction of the European and American standard injection production line has achieved an investment progress of 101.12%, with a cumulative investment of 10,111.61 million CNY[31] Operational Highlights - The company received several drug approvals, including levofloxacin tablets and injectable bivalirudin, which are now under priority review by the National Medical Products Administration[24] - The company reported a 35.32% increase in cash received from sales of goods and services, totaling CNY 182.88 million, due to sales growth and improved collections[23] - The company plans to continue expanding its domestic and international market presence while increasing investment in technology research and development[24] Changes in Financial Metrics - Cash outflow for purchasing fixed assets and intangible assets rose by 167.36% to CNY 270.96 million, reflecting the transition of ongoing projects to fixed assets[23] - Accounts receivable financing dropped by 69.01% to CNY 6.45 million, attributed to bill endorsement transfers or maturity cashing[23] - Inventory increased by 63.04% to CNY 113.66 million, reflecting higher production material reserves at the beginning of the year[23] - Long-term borrowings surged by 180.96% to CNY 138.93 million, driven by funding needs for ongoing construction projects[23] Compliance and Standards - The company did not undergo an audit for the first quarter report[91] - The company has not applied the new revenue and leasing standards for the current period[89]

Financial Performance - The company's operating revenue for 2019 was CNY 950,095,207.86, representing a 52.28% increase compared to CNY 623,904,151.91 in 2018[21] - The net profit attributable to shareholders for 2019 was CNY 301,147,028.57, a 65.99% increase from CNY 181,427,309.51 in 2018[21] - The net cash flow from operating activities reached CNY 215,374,300.86, up 127.22% from CNY 94,785,675.25 in the previous year[21] - Basic earnings per share for 2019 were CNY 1.10, a 66.67% increase compared to CNY 0.66 in 2018[21] - Total assets at the end of 2019 amounted to CNY 1,720,306,871.36, reflecting a 55.13% increase from CNY 1,108,964,590.51 at the end of 2018[21] - The company's net assets attributable to shareholders increased by 29.74% to CNY 1,145,941,429.17 from CNY 883,261,450.90 in 2018[21] - The company reported a weighted average return on equity of 29.68% for 2019, up from 21.43% in 2018[21] - The fourth quarter revenue was CNY 341,561,282.85, contributing significantly to the annual growth[23] - The company achieved a total operating revenue of 950.10 million yuan, an increase of 52.28% year-on-year[42] - Net profit attributable to shareholders increased by 65.99% compared to the previous year[42] Cash Flow and Investments - The net cash flow from operating activities was approximately ¥4.78 million, significantly lower than ¥141.35 million in the previous year[26] - The company reported a significant increase in inventory levels, with a 189.29% rise to 4,683.91 million units[84] - Operating cash inflow totaled ¥943.57 million in 2019, a year-on-year increase of 59.90%[95] - The net cash flow from financing activities surged to ¥233.67 million, a dramatic increase of 12,231.66% from the previous year[99] - The company has invested in fixed assets and construction projects, including new facilities in Hainan, Zhejiang, and Anhui, to support production capacity[47] - The total investment amount for the reporting period was ¥270,822,055.22, representing a 4.78% increase compared to ¥258,470,271.56 in the same period last year[109] Research and Development - The company has a robust pipeline of research and development projects, which are expected to drive future growth and innovation[48] - The company is increasing its investment in scientific research and development, aiming to innovate in areas such as allergy, oncology, cardiovascular, and pediatric medications[68] - The company’s R&D investment in 2019 amounted to approximately ¥204.37 million, representing 21.51% of its operating revenue[93] - The number of R&D personnel increased to 258 in 2019, accounting for 36.44% of the total workforce, up from 31.77% in 2018[93] Product and Market Strategy - The company operates an independent and complete procurement, production, and sales system[40] - The production model is based on "sales-driven production," aligning production plans with market demand[40] - The company has established a comprehensive GMP management system to ensure high production standards[40] - The sales strategy includes both distributor and delivery models, with a focus on academic promotion in hospitals[43] - The company has a diverse product portfolio covering multiple therapeutic areas, including anti-allergy drugs, non-steroidal anti-inflammatory drugs, antibiotics, and digestive drugs, with a focus on products like desloratadine and diclofenac[44] - The company is actively expanding its international market presence, having signed exclusive sales contracts with distributors in Europe and the United States[48] Risk Management and Future Outlook - The company highlighted potential risks in its future outlook, including industry policy changes and challenges in drug development[6] - The company anticipates potential risks from policy changes, international trade dynamics, and the complexities of drug development and quality assurance[137] - The company emphasizes the importance of internal governance and risk management as it scales its operations, aiming to enhance management levels and ensure timely information flow for decision-making[67] Dividend and Shareholder Information - The company plans to distribute a cash dividend of CNY 2.2 per 10 shares, with a capital reserve conversion of 5.5 shares for every 10 shares held[6] - The total distributable profit for 2019 is reported at 602,417,229.44 CNY, after accounting for a 10% legal surplus reserve deduction[146] - The company has consistently increased its cash dividends over the past three years, with 2018 and 2017 dividends being 2.1 CNY and 1.6 CNY per 10 shares, respectively[145][147] - The profit distribution plan for 2019 is subject to approval at the annual general meeting[146] Compliance and Governance - The board of directors has approved changes to accounting policies in response to new regulations issued by the Ministry of Finance, effective from April 30, 2019[196] - The company has committed to not transfer or entrust the management of its shares for 36 months following the IPO, ensuring stability in shareholding[159] - The company has established a strategy to avoid any conflicts of interest and reduce related-party transactions[173] - The company has ensured that there are no non-operational fund occupations by controlling shareholders or related parties during the reporting period[193]

Financial Performance - Net profit attributable to shareholders increased by 70.63% to CNY 85,945,705.09 for the reporting period[9] - Operating revenue for the period reached CNY 256,663,287.11, reflecting a growth of 69.46% year-on-year[9] - Basic earnings per share rose by 12.73% to CNY 0.31 for the reporting period[9] - The company reported a net profit excluding non-recurring gains and losses of CNY 82,921,081.09, up 64.74% year-on-year[9] - Total operating revenue for the third quarter reached ¥256,663,287.11, a significant increase from ¥151,461,093.42 in the same period last year, representing a growth of approximately 69.3%[69] - The net profit for the current period reached ¥85,945,705.09, up 70% from ¥50,369,635.87 in the same period last year[76] - The total profit for the current period was ¥88,747,848.97, compared to ¥53,469,635.87 in the previous period, indicating strong financial performance[76] - Net profit for the current period was ¥206,030,166.90, compared to ¥121,157,505.05 in the previous period, reflecting an increase of approximately 70.2%[89] Assets and Liabilities - Total assets increased by 27.96% to CNY 1,419,086,124.85 compared to the end of the previous year[9] - The total net assets attributable to shareholders increased by 18.96% to CNY 1,050,697,301.94 compared to the end of the previous year[9] - The company's total liabilities increased to CNY 368,388,822.91 as of September 30, 2019, compared to CNY 225,703,139.61 at the end of 2018, reflecting a growth of approximately 63.1%[55] - The non-current assets reached CNY 947,129,996.84, up from CNY 669,660,404.66, which is an increase of around 41.5%[52] - The company's total assets increased to ¥1,353,006,329.69 from ¥1,097,022,382.69, marking a growth of about 23.3%[68] Cash Flow - The net cash flow from operating activities decreased by 49.92% to CNY 74,026,431.15 compared to the same period last year[9] - Cash inflow from operating activities was CNY 591,232,578.26, an increase from CNY 375,937,937.30 in the prior period[102] - Cash outflow for purchasing fixed assets and intangible assets was CNY 266,164,416.48, compared to CNY 336,008,137.92 in the previous period[108] - Net cash flow from investing activities was CNY -182,786,637.41, worsening from CNY -102,869,774.08 in the prior year[110] - Cash inflow from financing activities was CNY 155,050,432.15, significantly higher than CNY 19,600,000.00 in the previous period[108] Research and Development - Research and development expenses increased by 35.98% to ¥112,977,475.88, indicating higher investment in R&D[25] - Research and development expenses for the quarter were ¥40,575,415.23, compared to ¥24,337,511.63 in the previous year, reflecting a rise of approximately 66.8%[69] - Research and development expenses increased significantly to ¥50,459,541.52, compared to ¥19,592,684.98 in the previous period, reflecting a focus on innovation[79] - Research and development expenses increased to ¥112,977,475.88 from ¥83,082,097.49, marking a growth of around 36%[86] Shareholder Commitments - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of its stock listing, ensuring stability in shareholding[33] - The company reported that shareholders are restricted from transferring more than 25% of their shares annually during their tenure[33] - The company has maintained compliance with all commitments made during its initial public offering[33] - The company has ensured that its commitments remain effective regardless of changes in the positions or departures of its executives[33] Government Support - Government subsidies recognized in the current period amounted to CNY 7,811,732.50[9] - Other income surged by 247.31% to ¥7,811,732.50, primarily due to increased government grants[28] Operational Efficiency - The weighted average return on equity was 8.23%, an increase of 0.53% compared to the previous year[9] - The company reported a significant increase in cash received from operating activities, indicating improved operational efficiency[105] - The operating profit for the current period was ¥88,972,587.95, up from ¥53,462,669.87 in the previous period, showcasing improved operational efficiency[76] Inventory and Receivables - Accounts receivable increased by 68.90% to ¥36,901,926.62, reflecting an increase in received notes[25] - Inventory rose by 37.09% to ¥97,551,629.60, attributed to increased production materials[25] - Accounts receivable rose to CNY 223,961,161.03 from CNY 136,998,595.93, marking an increase of about 63.4%[49] - Inventory levels rose to ¥61,627,846.91 from ¥58,600,316.05, indicating an increase of about 3.5%[59] Borrowings - The company reported a 423.68% increase in short-term borrowings to ¥115,210,000.00, reflecting additional bank loans[25] - Short-term borrowings increased significantly to ¥65,210,000.00 from ¥10,000,000.00, reflecting a rise of 552.1%[62]

Financial Performance - Total revenue for the first half of 2019 reached RMB 351,870,637.90, an increase of 40.34% compared to RMB 250,724,015.34 in the same period last year[24]. - Net profit attributable to shareholders was RMB 120,084,461.81, representing a growth of 70.81% from RMB 70,304,363.48 year-on-year[24]. - The net profit after deducting non-recurring gains and losses was RMB 116,093,670.65, up 69.21% from RMB 68,610,996.59 in the previous year[24]. - Operating cash flow net amount increased by 21.63% to RMB 38,854,637.71 from RMB 31,944,791.49 in the same period last year[24]. - Basic earnings per share rose to RMB 0.44, a 76.00% increase compared to RMB 0.25 in the previous year[24]. - The total profit reached 126.76 million yuan, up 61% compared to the same period last year[52]. - The main business revenue was 351.87 million yuan, with allergy products generating 141.49 million yuan, a 36.84% increase year-on-year[52]. - Antibiotic products generated sales of 101.49 million yuan, marking a 75.92% year-on-year increase[52]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 1,284,241,774.70, reflecting a 15.81% increase from RMB 1,108,964,590.51 at the end of the previous year[24]. - Net assets attributable to shareholders increased by 9.24% to RMB 964,878,862.41 from RMB 883,261,450.90 at the end of the previous year[24]. - Fixed assets at the end of the reporting period amounted to 348.65 million yuan, an increase of 48.92% compared to the beginning of the period[62]. - Intangible assets at the end of the reporting period totaled 77.97 million yuan, reflecting a year-on-year increase of 181.58%[62]. - The company's short-term borrowings increased to RMB 79,400,000.00, up from RMB 10,000,000.00, reflecting a 5.11% increase in liabilities[94]. Research and Development - The company has obtained 51 patent technologies, including 48 invention patents, enhancing its competitive edge in drug development[38]. - The company is actively engaged in the development of new drug formulations and technologies, focusing on sustained-release and taste-masking technologies[38]. - Research and development investment increased by 37.53% to RMB 72,402,060.65 from RMB 52,642,968.92, indicating a focus on innovation[85]. - The company has over 30 ongoing injectable drug development projects, positioning it as a leading international player in the injection field in China[61]. Market and Product Development - The company’s main product, Desloratadine, is recognized as a national-level torch project and has received multiple awards for its innovation[36]. - The company’s injection Azithromycin has become the first domestic injection to pass the consistency evaluation, ensuring its quality and efficacy[36]. - The company has established a marketing network covering over 4,000 hospitals and numerous grassroots medical institutions across China[68]. - The product portfolio covers various therapeutic areas, effectively diversifying market risks through a rich reserve of products[54]. Compliance and Governance - The company is focused on maintaining compliance with regulatory requirements and ensuring the quality and safety of its pharmaceutical products[122]. - The company has not faced any penalties or rectification issues during the reporting period, reflecting compliance with regulatory standards[144]. - The company has committed to not transferring or managing its shares for 36 months post-IPO, ensuring stability in shareholding[129]. - The company has made commitments to ensure that executive compensation is linked to the execution of return measures, promoting accountability[138]. Risks and Challenges - The company faces risks related to industry policies, price reductions in bidding, drug research and development, mergers and acquisitions, and new projects not meeting expectations[6]. - The company anticipates a significant impact on drug sales due to policies such as medical insurance cost control and centralized procurement, which may lead to a decline in both price and quantity sold[119]. - The pharmaceutical industry is characterized by high technology and high risk, with long development cycles and potential market changes affecting approved products[119]. Shareholder Information - The total number of shares before the capital increase was 183,176,430, and after the increase, it will be 274,764,645, with a cash dividend of ¥2.10 per 10 shares[184]. - The basic earnings per share decreased from ¥0.99 to ¥0.66 after the capital increase, and the diluted earnings per share also decreased from ¥0.99 to ¥0.66[188]. - The company has a total of 126,299,902 restricted shares after the increase, with significant increases in individual shareholder holdings[189]. - The largest shareholder, Fan Minhua, holds 35.16% of shares, totaling 96,597,000 shares[193].

Financial Performance - Total revenue for Q1 2019 reached ¥156,959,330.16, representing a 67.06% increase compared to ¥93,954,844.06 in the same period last year[9] - Net profit attributable to shareholders was ¥70,014,897.74, a significant increase of 125.11% from ¥31,102,752.94 year-on-year[9] - Basic earnings per share rose to ¥0.3822, up 125.09% from ¥0.1698 in the same quarter last year[9] - Operating profit for the current period was ¥72,983,293.42, compared to ¥34,398,939.57 in the previous period, indicating an increase of about 112.5%[72] - The company’s total comprehensive income for the current period was ¥70,014,897.74, compared to ¥31,102,752.94 in the previous period, reflecting a growth of approximately 125.5%[74] Cash Flow and Assets - The net cash flow from operating activities was ¥4,776,420.42, showing a remarkable growth of 169.97% compared to ¥1,769,234.61 in the previous year[9] - The company reported a significant increase in cash and cash equivalents, with a decrease of 60.51% due to increased investment in construction projects[22] - The ending balance of cash and cash equivalents was CNY 62,941,378.53, down from CNY 125,583,480.42 in the previous period, a decrease of about 50.1%[89] - Total assets at the end of the reporting period were ¥1,164,293,347.70, reflecting a 4.99% increase from ¥1,108,964,590.51 at the end of the previous year[9] - The total current assets reported were 390,930,632.08 CNY as of March 31, 2019, down from 439,304,185.85 CNY at the end of 2018[52] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 5,774, with the largest shareholder holding 35.16% of the shares[12] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[15] - The management emphasized the importance of maintaining shareholder value through consistent performance and strategic initiatives[36] Expenses and Liabilities - Research and development expenses increased by 39.79% to 22,557,865.76 CNY, indicating a continued commitment to enhancing product quality and innovation[22] - The company reported a tax expense of ¥1,024,939.92, significantly higher than ¥266,178.00 in the previous period, indicating an increase of about 285.5%[69] - The total liabilities decreased from 225,703,139.61 to 211,916,167.93, a reduction of approximately 6.5%[55] - The total current liabilities rose from 168,504,961.68 to 200,945,454.53, an increase of approximately 19.2%[65] Market and Product Development - The company plans to continue expanding its domestic and international market presence, particularly in the injectable drug segment[25] - The company received approvals for several key products, including Azithromycin for injection in Germany and Canada, and Eptifibatide injection from the FDA in the US[26] - New product launches are anticipated to contribute an additional $5 million in revenue over the next quarter[36] - Market expansion plans include entering two new regions by the end of 2019, targeting a 10% market share in those areas[36] Strategic Initiatives - The company is considering strategic acquisitions to bolster its market position, with potential targets identified[36] - A commitment to reducing operational costs by 15% through efficiency improvements was announced[36] - The company aims to enhance its digital marketing strategy, increasing budget allocation by 25%[36] - The company is investing in R&D with a budget increase of 30% to enhance product development[36]

Financial Performance - The company's operating revenue for 2018 was CNY 623,904,151.91, representing a 92.07% increase compared to CNY 324,826,689.90 in 2017[22]. - The net profit attributable to shareholders for 2018 was CNY 181,427,309.51, an increase of 84.37% from CNY 98,404,449.97 in 2017[22]. - The net profit after deducting non-recurring gains and losses was CNY 171,201,864.34, up 97.19% from CNY 86,822,845.13 in 2017[22]. - The basic earnings per share for 2018 was CNY 0.99, a 73.68% increase from CNY 0.57 in 2017[22]. - The total assets at the end of 2018 were CNY 1,108,964,590.51, reflecting a 26.81% increase from CNY 874,530,945.96 at the end of 2017[22]. - The net assets attributable to shareholders at the end of 2018 were CNY 883,261,450.90, a 22.44% increase from CNY 721,372,960.59 at the end of 2017[22]. - The total profit rose by 81.79% compared to the same period last year[45]. - The company achieved total operating revenue of 623.90 million yuan, a year-on-year increase of 92.07%[45]. - The company reported a gross margin of 83.75% for the pharmaceutical manufacturing sector, slightly down by 0.78% from the previous year[79]. Cash Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 2.10 per 10 shares, with a capital reserve conversion of 5 shares for every 10 shares held[7]. - The proposed cash dividend distribution is 2.1 yuan per 10 shares, totaling 38,467,050.30 yuan[131]. - The cash dividend accounted for 21.20% of the net profit attributable to ordinary shareholders, which was 181,427,309.51 CNY[136]. - The total distributable profit for the year was 358,259,701.11 CNY, with cash dividends making up 100% of the profit distribution[133]. - The cash dividend for 2018 was based on a total share capital of 183,176,430 shares[134]. - The company has a policy that cash dividends should constitute at least 20% of the profit distribution when significant capital expenditures are planned[133]. Research and Development - The company has obtained 51 patent technologies, including 48 invention patents, and holds 90 production approval documents for various products[34]. - The company has over 30 ongoing injection product R&D projects, establishing itself as a leading international player in the injection field[48]. - The R&D center employs an expert committee system to guide major technology projects, ensuring a robust pipeline of potential growth opportunities for the company[52]. - The company plans to increase investment in R&D, focusing on high-difficulty generics and differentiated products to ensure a steady pipeline of high-value offerings[68]. - Research and development expenses reached CNY 138,119,041.57, a 118.18% increase compared to CNY 63,304,196.17 in the previous year, indicating a strong commitment to R&D[91]. Market and Product Strategy - The company’s main products include prescription drugs in the fields of anti-allergy, non-steroidal anti-inflammatory, antibiotics, and digestive drugs[34]. - The company has expanded its product offerings to include various dosage forms, enhancing its competitive advantage in the market[50]. - The product portfolio includes various categories such as anti-allergic, non-steroidal anti-inflammatory, and antibiotics, indicating a diverse market presence[41]. - The company has established a comprehensive quality control system throughout the drug development and production process, ensuring compliance with stringent quality requirements[52]. - The company has signed exclusive sales contracts with distributors in Europe and the US, facilitating international market expansion[52]. Operational Efficiency - The procurement model follows a "production-based purchasing" approach, ensuring raw materials are acquired based on production plans and inventory levels[42]. - The production model is "sales-driven," with production plans based on historical sales data and market demand forecasts[42]. - The company has a complete procurement, production, and sales system, operating independently based on market rules and its own conditions[42]. - The company emphasizes quality control, with every batch of products undergoing strict quality inspection before release[42]. - The company has a solid foundation for long-term development through its extensive R&D project reserves, which are expected to drive future growth[52]. Risks and Challenges - The company has outlined potential risks in its future development outlook, including industry policy changes and drug research and development uncertainties[7]. - The company anticipates potential risks from policy changes and increased competition in the pharmaceutical market[124]. - The company emphasizes the importance of drug quality and compliance with strict production standards to mitigate risks[127]. International Expansion - The company expanded its international market presence, obtaining multiple overseas approvals, including the FDA approval for Levetiracetam injection in the US and several others in Europe and Australia[63]. - The company aims to enhance its international drug registration and manufacturing capabilities, focusing on overseas market expansion[124]. - The company has established subsidiaries in Hangzhou and Hainan for drug research and development, which are expected to enhance long-term profit growth[67]. Corporate Governance - The company is committed to improving corporate governance and ensuring accurate and timely information disclosure to protect investor rights[68]. - The company has committed to fulfilling its promises regarding share transfers and lock-up periods as per regulations[137]. - The company has not engaged in share buybacks during the reporting period[133].