湖北共同药业股份有限公司 章程修订对照表 为全面贯彻落实最新法律法规及规范性文件要求，进一步提升公司治理 水平，根据《中华人民共和国公司法》及《上市公司章程指引》《深圳证券 交易所创业板股票上市规则》等相关法律法规规定并结合公司实际情况，拟 对《公司章程》相关条款进行修订。 湖北共同药业股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日 召开第三届董事会第八次会议，审议通过了《关于修订<公司章程>的议 案》，该议案尚需提交公司 2025 年第一次临时股东大会审议，经出席会议的 股东所持表决权的三分之二以上通过方可生效。具体修订情况如下： | 原章程内容 | 修订后内容 | | --- | --- | | 第一条 | 第一条 | | 为维护公司、股东和债权人的合法权益，规范 | 为维护公司、股东、职工和债权人的合法权益，规范 | | 公司的组织和行为，根据《中华人民共和国公 | 公司的组织和行为，根据《中华人民共和国公司法》 | | 司法》(以下简称《公司法》)、《中华人民共 | （以下简称《公司法》）、《中华人民共和国证券 | | 和国证券法》(以下简称《证券法》)、《中国 | 法》（以下简称 ...

2025 年半年度财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 | 编制单位：湖北共同药业股份有限公司 | 2025 年 06 月 30 日 | 单位：元 | | --- | --- | --- | | 项目 | 期末余额 | 期初余额 | | 流动资产： | | | | 货币资金 | 133,827,483.67 | 141,181,205.23 | | 结算备付金 | 0.00 | 0.00 | | 拆出资金 | 0.00 | 0.00 | | 交易性金融资产 | 1,010.70 | 1,010.63 | | 衍生金融资产 | 0.00 | 0.00 | | 应收票据 | 18,481,550.85 | 15,969,258.05 | | 应收账款 | 239,393,977.46 | 188,668,396.08 | | 应收款项融资 | 4,827,537.43 | 9,623,992.21 | | 预付款项 | 4,653,629.39 | 10,721,612.30 | | 应收保费 | 0. ...

| 证券代码：300966 | 证券简称：共同药业 | 公告编号：2025-049 | | --- | --- | --- | | 转债代码：123171 | 转债简称：共同转债 | | 经第三届董事会提名委员会资格审查，第三届董事会审议，同意提名系思怡（简 历详见附件）为公司第三届董事会非独立董事候选人，任期自股东大会审议通过之 日起至公司第三届董事会任期届满之日止。根据《公司法》《公司章程》的规定， 新增的董事候选人尚需提交公司股东大会审议。 本次增选系思怡为公司非独立董事后，公司董事会中兼任高级管理人员以及由 职工代表担任的董事人数总计未超过公司董事总数的二分之一。 特此公告。 湖北共同药业股份有限公司 董事会 湖北共同药业股份有限公司 关于增选第三届董事会非独立董事的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 湖北共同药业股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日召开第 三届董事会第八次会议，审议通过了《关于修订<公司章程>的议案》《关于增选第 三届董事会非独立董事的议案》。现将相关情况公告如下： 为进一步提升公司治理 ...

上市公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 编制单位：湖北共同药业股份有限公司 单位：人民币万元 | 非经营性资金占用 | 资金占用方 | 占用方与上 市公司的关 | 上市公司 核算的会计 | 2025年期初 占用资金余 | 年半年度占 2025 用累计发生金额 | 年半年度 2025 占用资金的利 | 年半年 2025 度偿还累计 | 年半年度期 2025 | 占用形成 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 名称 | | | | | | | 末占用资金余额 | 原因 | 占用性质 | | | | 联关系 | 科目 | 额 | （不含利息） | 息（如有） | 发生金额 | | | | | 控股股东、实际控制人 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 非经营性占用 | | 及其附属企业 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 非经营性占用 | | 小计 | | ...

一、修订《公司章程》的情况 为全面贯彻落实最新法律法规及规范性文件要求，进一步提升公司治理水平， 根据《中华人民共和国公司法》（以下简称《公司法》）及《上市公司章程指引》 《深圳证券交易所创业板股票上市规则》等相关法律法规规定并结合公司实际情况， 公司拟对《公司章程》相关条款进行修订。 具体内容详见公司同日在巨潮资讯网（www.cninfo.com.cn）披露的《公司章程 修订对照表》和《公司章程》全文。 本次修订事项，尚需提交公司 2025 年第一次临时股东大会审议。公司董事会提 请股东大会授权公司管理层办理本次工商变更登记、章程备案等事宜，授权的有效 期限为自股东大会审议通过之日起至本次工商变更登记、章程备案办理完毕之日止。 本次变更具体内容最终以行政审批管理部门核准、登记为准。 二、制定、修订公司部分治理制度情况 | 证券代码：300966 | 证券简称：共同药业 | 公告编号：2025-048 | | --- | --- | --- | | 转债代码：123171 | 转债简称：共同转债 | | 湖北共同药业股份有限公司 关于修订《公司章程》及制定、修订公司部分治理制度的公告 本公司及董事会全体成员保 ...

湖北共同药业股份有限公司 董事、高级管理人员薪酬方案 为保证湖北共同药业股份有限公司（以下简称"公司"）董事、高级管理人 员有效履行其相应职责和义务，建立责权利相适应的激励约束机制，合理确定公 司董事、高级管理人员的绩效评价标准、薪酬水平及支付方式，根据《中华人民 共和国公司法》《深圳证券交易所创业板股票上市规则》《上市公司独立董事管理 办法》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范 运作》《湖北共同药业股份有限公司章程》（以下简称《公司章程》）《湖北共同药 业股份有限公司董事会议事规则》等有关法律、法规的规定，同时参考公司实际 经营发展情况及行业薪酬水平，制定本公司董事、高级管理人员薪酬方案。 本方案至公司股东会审议通过后实施，至新的薪酬方案通过后自动失效。 三、薪酬标准 1、董事薪酬 （1）担任具体管理职务的非独立董事，根据其在公司的具体任职岗位领取 相应的报酬；未在公司担任实际工作岗位的非独立董事不领取薪酬。 （2）公司聘请的独立董事津贴为 7.2 万元/年（含税）。 2、公司高级管理人员薪酬 公司高级管理人员基本年薪按月平均发放；季度绩效收入按季进行考核，于 季度考核完成后 ...

1、股东大会届次：2025 年第一次临时股东大会 2、会议召集人：湖北共同药业股份有限公司董事会。2025 年 8 月 27 日，湖北 共同药业股份有限公司（以下简称"共同药业"或"公司"）召开第三届董事会第 八次会议，审议通过了《关于提请召开公司 2025 年第一次临时股东大会的议案》。 | 证券代码：300966 | 证券简称：共同药业 | 公告编号：2025-050 | | --- | --- | --- | | 转债代码：123171 | 转债简称：共同转债 | | 湖北共同药业股份有限公司 关于召开 2025 年第一次临时股东大会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、召开会议的基本情况 3、会议召开的合法、合规性：公司董事会决议召开本次股东大会符合有关法律、 行政法规、部门规章、规范性文件和《湖北共同药业股份有限公司章程》的规定。 4、会议召开的日期、时间： 现场会议召开时间：2025 年 9 月 15 日（星期一）下午 14:00 网络投票时间：2025 年 9 月 15 日，其中，通过深圳证券交易所交易系统进行网 络投票的具 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) [Important Notice](index=2&type=section&id=Important%20Notice) Management guarantees report accuracy, highlights risks, and confirms no profit distribution or capital reserve conversion - The company's Board of Directors, Supervisory Board, and senior management guarantee the **truthfulness, accuracy, and completeness** of the semi-annual report content[4](index=4&type=chunk) - The company's person in charge, chief accountant, and head of accounting department declare the financial report to be **true, accurate, and complete**[4](index=4&type=chunk) - The company plans **not to distribute cash dividends, bonus shares, or convert capital reserves into share capital**[5](index=5&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This report's clear table of contents outlines eight main chapters covering essential information, company profile, management discussion, governance, significant matters, share changes, bond information, and financial reports - The report contains **eight main chapters**, covering company operations, finance, governance, and significant matters[7](index=7&type=chunk) [Reference Documents Catalog](index=4&type=section&id=Reference%20Documents%20Catalog) Reference documents include financial statements signed and sealed by the company's person in charge, chief accountant, and head of accounting, along with originals of all publicly disclosed company documents during the reporting period - Reference documents include **signed and sealed financial statements** and original copies of **publicly disclosed company documents**[9](index=9&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines key terms used in the report, including company names, major subsidiaries, industry peers, product categories (starting materials, intermediates, sex hormones, progestins, corticosteroids), core production technologies, and the reporting period - Defined the company, subsidiaries, industry peers, and steroid drug-related products (starting materials, intermediates, sex hormones, progestins, corticosteroids) and technologies (bio-fermentation, enzymatic conversion, chemical synthesis, genetic engineering)[10](index=10&type=chunk) - The reporting period is **January 1, 2025, to June 30, 2025**, with the prior year period being January 1, 2024, to June 30, 2024[10](index=10&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Company%20Profile%20and%20Key%20Financial%20Indicators) [Company Profile](index=6&type=section&id=Company%20Profile) Hubei Gotopharm Co., Ltd., stock abbreviation "Gotopharm", stock code 300966, is listed on the Shenzhen Stock Exchange, with Xi Zubin as its legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Gotopharm | | Stock Code | 300966 | | Listing Exchange | Shenzhen Stock Exchange | | Chinese Name | 湖北共同药业股份有限公司 | | Legal Representative | Xi Zubin | [Contact Person and Information](index=6&type=section&id=Contact%20Person%20and%20Information) The company's Board Secretary is Chen Wenjing, and the Securities Affairs Representative is Wan Ying, both located at 33rd Floor, Building 1, Global Financial City, Wolong Avenue, Xiangyang, Hubei, with consistent contact details Contact Information | Position | Name | Contact Address | Phone/Fax | Email | | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Chen Wenjing | 33rd Floor, Building 1, Global Financial City, Wolong Avenue, Fancheng District, Xiangyang City, Hubei Province | 0710-3523126 | board@gotopharm.com | | Securities Affairs Representative | Wan Ying | 33rd Floor, Building 1, Global Financial City, Wolong Avenue, Fancheng District, Xiangyang City, Hubei Province | 0710-3523126 | board@gotopharm.com | [Other Information](index=6&type=section&id=Other%20Information) During the reporting period, there were no changes in the company's registered address, office address, website, email, information disclosure, or registration status, with details available in the 2024 annual report - The company's contact information, information disclosure and storage locations, and registration status **remained unchanged** during the reporting period[14](index=14&type=chunk)[15](index=15&type=chunk)[16](index=16&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) The company's H1 2025 operating revenue increased by 29.33% to CNY 302.40 million, but net profit attributable to shareholders decreased by 117.88% to CNY -11.15 million, with operating cash flow turning negative 2025 H1 Key Accounting Data and Financial Indicators | Indicator | Current Period (CNY) | Prior Year Period (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 302,399,640.34 | 233,822,011.21 | 29.33% | | Net Profit Attributable to Shareholders | -11,152,527.25 | -5,118,586.73 | -117.88% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | -10,219,109.21 | -4,926,838.56 | -107.42% | | Net Cash Flow from Operating Activities | -5,792,894.83 | 34,114,495.08 | -116.98% | | Basic Earnings Per Share (CNY/share) | -0.10 | -0.04 | -150.00% | | Diluted Earnings Per Share (CNY/share) | -0.10 | -0.04 | -150.00% | | Weighted Average Return on Net Assets | -1.22% | -0.54% | -0.68% | | **Period-End Indicators** | **End of Current Period (CNY)** | **End of Prior Year (CNY)** | **Change from Prior Year End** | | Total Assets | 2,935,174,530.03 | 2,789,880,328.86 | 5.21% | | Net Assets Attributable to Shareholders | 909,318,935.08 | 923,137,679.57 | -1.50% | [Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=7&type=section&id=Differences%20in%20Accounting%20Data%20Under%20Domestic%20and%20Overseas%20Accounting%20Standards) During the reporting period, the company reported no differences in net profit and net assets between international/overseas accounting standards and Chinese accounting standards - The company reported **no differences** in net profit and net assets under domestic and overseas accounting standards during the reporting period[18](index=18&type=chunk)[19](index=19&type=chunk) [Non-Recurring Gains and Losses Items and Amounts](index=7&type=section&id=Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) The company's non-recurring gains and losses totaled CNY -0.93 million for the reporting period, primarily from non-current asset disposal losses, government grants, fair value changes, and other non-operating income/expenses 2025 H1 Non-Recurring Gains and Losses Items and Amounts | Item | Amount (CNY) | | :--- | :--- | | Disposal gains/losses of non-current assets | -1,568,177.45 | | Government grants recognized in profit or loss (excluding those with continuous impact) | 1,989,702.30 | | Fair value changes and disposal gains/losses of financial assets/liabilities (excluding hedging related to normal operations) | 0.07 | | Other non-operating income and expenses apart from the above | -1,338,003.32 | | Less: Income tax impact | -54,877.69 | | Minority interest impact (after tax) | 71,817.33 | | **Total** | **-933,418.04** | Items Recognized as Recurring Gains and Losses | Item | Amount (CNY) | Reason | | :--- | :--- | :--- | | Withholding tax refund for individual income tax | 29,440.37 | Occurs continuously each year, not incidental | | Other income | 6,603,875.47 | Amortization of asset-related government grants | | VAT additional deduction | 1,791,770.91 | Occurs continuously each year, not incidental | [Management Discussion and Analysis](index=9&type=section&id=Management%20Discussion%20and%20Analysis) [Company's Main Business During the Reporting Period](index=9&type=section&id=Company%27s%20Main%20Business%20During%20the%20Reporting%20Period) The company, a biopharmaceutical manufacturer, focuses on R&D, production, and sales of steroid drug raw materials, covering starting materials, intermediates, and APIs, with revenue growth but net profit decline due to convertible bond interest expense [Industry Development of the Company](index=9&type=section&id=Industry%20Development%20of%20the%20Company) Steroid drugs are a vital pharmaceutical sector with a global market worth tens of billions of USD, experiencing continuous growth, while China leads in API production but relies on imports for high-end preparations - Steroid drugs have **wide clinical applications**, with a global market size of tens of billions of USD, expected to maintain high growth[25](index=25&type=chunk)[27](index=27&type=chunk) - China has become the **world's largest producer of steroid APIs**, but high-end preparations account for less than 15% and still rely on imports[26](index=26&type=chunk) - The company, along with Saituo Bio and Hunan Xinhexin, forms the **first tier in China** for steroid drug starting materials and intermediates, with leading production scale and product diversity globally[28](index=28&type=chunk) - National policies support **innovation, green transformation, and cluster development** in the pharmaceutical industry, aiming for over 50% green process adoption and special fund support for synthetic biology[30](index=30&type=chunk) [Company's Main Business](index=10&type=section&id=Company%27s%20Main%20Business) The company primarily engages in R&D, production, and sales of steroid drug raw materials, including starting materials, intermediates, and APIs, leveraging subsidiaries for technological leadership and a closed-loop innovation system - The company's main business is the **R&D, production, and sales of steroid drug raw materials**, with products covering starting materials, intermediates, and APIs[31](index=31&type=chunk) - Subsidiary Gotopharm Bio holds a **technological leading position** in key starting materials like androstenedione and BA, with the highest market share in its niche segment[31](index=31&type=chunk) - Subsidiary Huahai Gotopharm has achieved a **full range of API products**, including sex hormones, progestins, corticosteroids, and other APIs, establishing the most complete steroid drug API matrix in China[31](index=31&type=chunk) - Subsidiary Gotopharm Steroid Research Institute, supported by a high-end R&D team, has made breakthroughs in **four core technologies**: targeted strain screening, enzyme engineering modification, efficient sterol conversion, and green synthesis processes, forming a closed-loop innovation system from basic research to industrialization[31](index=31&type=chunk) [Company's Main Products and Their Uses](index=10&type=section&id=Company%27s%20Main%20Products%20and%20Their%20Uses) The company's product line spans steroid drug starting materials, pharmaceutical intermediates (sex hormones, progestins, corticosteroids, and others), and APIs (sex hormone series, progestin series, non-hormone series), widely used in various therapeutic areas - Starting materials primarily include **4-Androstenedione (4-AD), Androstadienedione (ADD), Bisnorcholenic Acid (BA), and 9-Hydroxyandrostenedione (9-OH-AD)**, used for developing glucocorticoids, sex hormones, anabolic hormones, and bile acid-related steroid drugs[31](index=31&type=chunk) - Pharmaceutical intermediates cover **sex hormone-related** (e.g., testosterone, nandrolone), **progestin-related** (e.g., progesterone), **corticosteroid-related** (e.g., cortisone acetate), and other intermediates, used for synthesizing high-value-added downstream drugs[32](index=32&type=chunk) - API main products include **sex hormone series** (e.g., testosterone enanthate), **progestin series** (e.g., dydrogesterone), and **non-hormone series** (e.g., ursodeoxycholic acid), used for treating male hypogonadism, endogenous progesterone deficiency, gallstones, etc[32](index=32&type=chunk)[33](index=33&type=chunk)[34](index=34&type=chunk) [Main Business Model](index=12&type=section&id=Main%20Business%20Model) The company employs a "quality-supply-compliance" three-dimensional supplier access system for procurement, a "standardized + customized" dual-track production model, and a direct sales model for domestic and international markets - Procurement Model: Established a **"quality-supply-compliance" three-dimensional supplier access system**, with dual supplier backup for key raw materials[34](index=34&type=chunk) - Production Model: Adopts a **"standardized + customized" dual-track strategy**, with starting materials produced on a rolling basis and intermediates produced in batches or triggered by orders[35](index=35&type=chunk) - Sales Model: Primarily sells to domestic and international steroid drug manufacturers through **direct sales**, establishing cooperation via exhibitions and visits, and determining sales prices monthly based on raw material costs and competitor pricing[36](index=36&type=chunk) [Company's Market Position](index=12&type=section&id=Company%27s%20Market%20Position) The company holds a leading position in steroid drug starting materials through biological fermentation technology and has developed a comprehensive portfolio of over 100 intermediate products using enzyme engineering and green synthesis - In the starting materials sector, the company has established a **domestic technological benchmark position** by pioneering the directional conversion process of phytosterols using biological fermentation technology[36](index=36&type=chunk) - In the intermediate sector, leveraging its advantages in enzyme engineering and green synthesis technologies, the company has developed a **full range of intermediates** including sex hormones, progestins, and corticosteroids, with a product matrix covering over 100 varieties, becoming a core supplier domestically and internationally[36](index=36&type=chunk) [Key Performance Drivers](index=12&type=section&id=Key%20Performance%20Drivers) Operating revenue increased by 29.33% to CNY 302.40 million, driven by a 44.71% growth in self-produced product sales and a 3.78% increase in gross margin, while net profit declined significantly due to convertible bond interest expense 2025 H1 Performance Drivers | Indicator | Current Period Amount (CNY million) | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 302.40 | 29.33% | | Net Profit Attributable to Shareholders | -11.15 | -117.88% | | Self-produced Product Sales Revenue Growth | - | 44.71% | | Self-produced Product Gross Margin Growth | - | 3.78% | | Convertible Bond Interest Expensed in Financial Expenses | 14.68 | - | [Analysis of Core Competencies](index=13&type=section&id=Analysis%20of%20Core%20Competencies) The company is advancing an integrated industrial chain strategy, optimizing its product portfolio, extending into APIs, and building a market-driven marketing and quality management system to ensure stable operations and enhance competitiveness [Horizontal Optimization of Product Portfolio, Vertical Extension of Industrial Chain](index=13&type=section&id=Horizontal%20Optimization%20of%20Product%20Portfolio%2C%20Vertical%20Extension%20of%20Industrial%20Chain) The company is implementing a "stock optimization + incremental breakthrough" strategy, reducing high-energy-consumption intermediates while expanding corticosteroid and non-hormone product lines, and steadily advancing API production projects - Horizontal adjustment: **Reduced capacity for high-energy-consumption, low-value-added intermediates**, while expanding corticosteroid and non-hormone product lines[38](index=38&type=chunk) - Vertical extension: Phase I of the API production project has begun **trial production**, with Phase II planning high-end corticosteroid API capacity and exploring technical cooperation with formulation enterprises[38](index=38&type=chunk) [Measures for Coordinated Development of Industrial Chain](index=13&type=section&id=Measures%20for%20Coordinated%20Development%20of%20Industrial%20Chain) The company ensures production stability and reduces external supply risks by self-producing starting materials, extends enzyme catalysis from intermediates to APIs for efficiency, and designs API production lines to strict GMP standards - Utilizes **self-produced starting materials** to ensure stability in intermediate and API production, reducing external supply fluctuation risks[38](index=38&type=chunk) - Extends **enzyme catalysis processes** from intermediate production to the API stage, enhancing synthesis efficiency[38](index=38&type=chunk) - API production lines are designed strictly according to **GMP standards**, with quality system documentation already completed[38](index=38&type=chunk) [Building a Market-Driven Marketing System to Enhance Full-Cycle Competitiveness](index=13&type=section&id=Building%20a%20Market-Driven%20Marketing%20System%20to%20Enhance%20Full-Cycle%20Competitiveness) The company has established a "policy-customer-competitor" three-dimensional market insight system to guide product pipeline planning and pricing strategies, while proactively developing high-tech barrier intermediate processes and a biocatalytic sample library - Established a **"policy-customer-competitor" three-dimensional monitoring mechanism** to guide product pipeline planning and dynamically adjust pricing strategies and capacity allocation[39](index=39&type=chunk) - Proactively deployed **high-tech barrier intermediate processes** and developed a sample library of biocatalytic pathway intermediates, securing cooperation intentions with multiple innovative pharmaceutical companies[39](index=39&type=chunk) [Improving Quality System Construction and Building a Multi-Dimensional Management System](index=13&type=section&id=Improving%20Quality%20System%20Construction%20and%20Building%20a%20Multi-Dimensional%20Management%20System) The company designs API production facilities to FDA/EMA GMP standards, integrates automation, adopts CTD file management, implements QMS/LIMS for digital control, and conducts GDP training to build a comprehensive quality network supporting international expansion - API production workshops are designed referencing **FDA/EMA GMP standards**, incorporating automated production lines and modular CDMO workshops, with SOPs iterated[39](index=39&type=chunk) - Conducted **quality system benchmarking with Huahai Pharmaceutical**, introduced API CTD file management specifications, and initiated EDMF file compilation[39](index=39&type=chunk) - Launched **QMS and LIMS systems** to digitize core processes like deviation management and change control, ensuring data integrity meets MHRA audit requirements[40](index=40&type=chunk) - Conducted **company-wide GDP training** and implemented a quality KPI and performance linkage mechanism, establishing a preliminary multi-dimensional quality network covering R&D, production, and warehousing to support international market expansion[40](index=40&type=chunk) [Analysis of Main Business](index=13&type=section&id=Analysis%20of%20Main%20Business) The company's main business revenue increased by 29.33%, but financial expenses surged by 230.79% due to capitalized interest becoming expensed, and R&D investment increased by 77.16%, while operating cash flow turned negative Major Financial Data YoY Changes | Item | Current Period (CNY) | Prior Year Period (CNY) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 302,399,640.34 | 233,822,011.21 | 29.33% | - | | Operating Cost | 236,564,288.07 | 193,177,978.30 | 22.46% | - | | Financial Expenses | 23,550,338.77 | 7,119,332.05 | 230.79% | Capitalized interest expensed after investment projects transferred to fixed assets | | Income Tax Expense | -8,503,247.47 | -4,456,241.22 | -90.82% | Increased R&D expense super deduction | | R&D Investment | 35,926,201.11 | 20,278,578.57 | 77.16% | Increased R&D expenditure | | Net Cash Flow from Operating Activities | -5,792,894.83 | 34,114,495.08 | -116.98% | Decrease in government grants received and cash received from sales | | Net Cash Flow from Investing Activities | -115,506,241.77 | -177,248,871.28 | 34.83% | Decrease in cash paid for construction of fixed assets | | Net Cash Flow from Financing Activities | 119,033,056.98 | 295,181,675.33 | -59.67% | Decrease in cash received from borrowings | Products or Services Accounting for Over 10% of Revenue | Product or Service | Operating Revenue (CNY) | Operating Cost (CNY) | Gross Margin | YoY Change in Operating Revenue | YoY Change in Operating Cost | YoY Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Self-produced | 274,248,074.26 | 210,326,821.28 | 23.31% | 44.71% | 37.92% | 3.78% | | Non-self-produced | 27,867,969.77 | 25,922,447.17 | 6.98% | -36.74% | -35.77% | -1.40% | [Analysis of Non-Main Business](index=14&type=section&id=Analysis%20of%20Non-Main%20Business) The company reported no non-main business analysis content during the reporting period - The company reported **no non-main business analysis** during the reporting period[45](index=45&type=chunk) [Analysis of Assets and Liabilities](index=14&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, total assets grew by 5.21%, with increases in accounts receivable and inventory, while short-term borrowings decreased and long-term borrowings significantly increased due to project loans [Significant Changes in Asset Composition](index=14&type=section&id=Significant%20Changes%20in%20Asset%20Composition) At the end of the reporting period, total assets increased by 5.21%, with accounts receivable and inventory rising due to revenue growth and project capacity release, while short-term borrowings decreased and long-term borrowings increased significantly Significant Changes in Asset Composition | Item | End of Current Period Amount (CNY) | % of Total Assets | End of Prior Year Amount (CNY) | % of Total Assets | % Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 133,827,483.67 | 4.56% | 141,181,205.23 | 5.06% | -0.50% | - | | Accounts Receivable | 239,393,977.46 | 8.16% | 188,668,396.08 | 6.76% | 1.40% | Increase in accounts receivable within credit period due to operating revenue growth | | Inventories | 440,055,287.92 | 14.99% | 384,797,242.09 | 13.79% | 1.20% | Increase in raw material reserves due to capacity release from investment projects | | Fixed Assets | 1,136,696,153.48 | 38.73% | 1,154,486,627.36 | 41.38% | -2.65% | - | | Construction in Progress | 761,804,636.83 | 25.95% | 694,413,010.74 | 24.89% | 1.06% | - | | Short-term Borrowings | 222,153,151.38 | 7.57% | 294,303,069.17 | 10.55% | -2.98% | Repayment of matured borrowings | | Long-term Borrowings | 625,098,254.73 | 21.30% | 484,919,646.66 | 17.38% | 3.92% | Increase in loans for Huahai Gotopharm's 370-ton steroid API production project and Gotopharm Bio's steroid industrial chain upgrade project | [Major Overseas Assets](index=15&type=section&id=Major%20Overseas%20Assets) The company reported no major overseas assets during the reporting period - The company reported **no major overseas assets** during the reporting period[47](index=47&type=chunk) [Assets and Liabilities Measured at Fair Value](index=15&type=section&id=Assets%20and%20Liabilities%20Measured%20at%20Fair%20Value) At the end of the reporting period, the company's financial assets measured at fair value totaled CNY 4.83 million, primarily comprising trading financial assets and accounts receivable financing Assets and Liabilities Measured at Fair Value | Item | Beginning Balance (CNY) | Fair Value Change Gains/Losses for the Period (CNY) | Ending Balance (CNY) | | :--- | :--- | :--- | :--- | | Trading Financial Assets | 1,010.63 | 0.07 | 1,010.70 | | Accounts Receivable Financing | 9,623,992.21 | - | 4,827,537.43 | | **Total Financial Assets** | **9,625,002.84** | **0.07** | **4,828,548.13** | | Financial Liabilities | 0.00 | 0.00 | 0.00 | [Asset Restrictions as of the End of the Reporting Period](index=16&type=section&id=Asset%20Restrictions%20as%20of%20the%20End%20of%20the%20Reporting%20Period) As of the end of the reporting period, the company had CNY 1.02 billion in restricted assets, mainly pledged for borrowings, including fixed assets, construction in progress, intangible assets, investment properties, and monetary funds for guarantees Asset Restrictions | Item | Book Balance (CNY) | Book Value (CNY) | Restriction Type | Restriction Details | | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 35,882,071.37 | 35,882,071.37 | Guarantee Deposit | Credit guarantee deposit/Acceptance guarantee deposit/ETC frozen guarantee deposit | | Fixed Assets | 774,446,658.26 | 764,613,097.53 | Mortgage | Borrowing mortgage | | Intangible Assets | 43,449,375.56 | 40,147,170.64 | Mortgage | Borrowing mortgage | | Construction in Progress | 148,279,532.72 | 148,279,532.72 | Mortgage | Borrowing mortgage | | Investment Properties | 19,457,843.93 | 17,699,533.22 | Mortgage | Borrowing mortgage | | **Total** | **1,021,515,481.84** | **1,006,621,405.48** | **--** | **--** | [Analysis of Investment Status](index=16&type=section&id=Analysis%20of%20Investment%20Status) The company reported no significant equity investments, non-equity investments, use of raised funds, entrusted wealth management, derivative investments, or entrusted loans during the reporting period - The company reported **no significant equity investments, non-equity investments, use of raised funds, entrusted wealth management, derivative investments, or entrusted loans** during the reporting period[50](index=50&type=chunk)[51](index=51&type=chunk)[52](index=52&type=chunk)[53](index=53&type=chunk) [Significant Asset and Equity Sales](index=17&type=section&id=Significant%20Asset%20and%20Equity%20Sales) The company did not sell any significant assets or equity during the reporting period - The company **did not sell any significant assets or equity** during the reporting period[54](index=54&type=chunk)[55](index=55&type=chunk) [Analysis of Major Holding and Participating Companies](index=17&type=section&id=Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) Hubei Gotopharm Bio-Technology Co., Ltd., a wholly-owned subsidiary with CNY 100 million registered capital, accounted for 72.14% of consolidated sales revenue and is a primary profit contributor Major Subsidiary Financial Information | Company Name | Company Type | Main Business | Registered Capital (CNY) | Total Assets (CNY) | Net Assets (CNY) | Operating Revenue (CNY) | Operating Profit (CNY) | Net Profit (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Hubei Gotopharm Bio-Technology Co., Ltd. | Subsidiary | Starting Materials | 100,000,000.00 | 1,901,777,524.88 | 591,481,468.83 | 249,859,764.59 | -3,754,460.94 | 1,804,059.62 | - Hubei Gotopharm Bio-Technology Co., Ltd. is a **wholly-owned subsidiary** of Gotopharm, with its sales revenue accounting for **72.14% of consolidated sales revenue** during the reporting period, making it a primary profit contributor to the group[56](index=56&type=chunk) [Structured Entities Controlled by the Company](index=17&type=section&id=Structured%20Entities%20Controlled%20by%20the%20Company) The company reported no controlled structured entities during the reporting period - The company reported **no controlled structured entities** during the reporting period[57](index=57&type=chunk) [Risks Faced by the Company and Countermeasures](index=17&type=section&id=Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces risks related to industry policies, product markets, R&D, product quality, safety, environmental protection, and scale expansion, which it addresses through policy monitoring, product optimization, R&D enhancement, and robust management systems - Industry policy and product market risks: The pharmaceutical industry is highly susceptible to policy changes; the company will **monitor policy changes, optimize product structure, and enhance competitiveness**[57](index=57&type=chunk) - Product R&D risks: R&D involves high investment, long cycles, and uncertain outcomes; the company will leverage its technical center and R&D platform to **identify market-potential products and strengthen industrial chain integration**[58](index=58&type=chunk)[59](index=59&type=chunk) - Product quality, safety, and environmental risks: Production processes may entail quality, safety, and environmental risks; the company will **strictly adhere to regulations, improve management systems, and strengthen supervision and risk prevention**[60](index=60&type=chunk) - Risks from scale expansion: Numerous ongoing projects may lead to depreciation and amortization pressure, posing challenges to corporate governance and team management; the company will **strengthen project management, improve internal organizational structure, and enhance management efficiency**[61](index=61&type=chunk) [Registration Form for Investor Relations Activities During the Reporting Period](index=18&type=section&id=Registration%20Form%20for%20Investor%20Relations%20Activities%20During%20the%20Reporting%20Period) During the reporting period, the company conducted three investor activities, including a conference call and online interactions, primarily engaging institutional investors - The company conducted **three investor relations activities** during the reporting period, including a conference call and online platform interactions[62](index=62&type=chunk) - The attendees were primarily **institutional investors**, and the discussion content and materials are available on Juchao Information Network[62](index=62&type=chunk) [Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=19&type=section&id=Formulation%20and%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) The company has not formulated a market value management system nor disclosed a valuation enhancement plan - The company has **not formulated a market value management system** nor disclosed a valuation enhancement plan[63](index=63&type=chunk) [Implementation of 'Dual Improvement in Quality and Returns' Action Plan](index=19&type=section&id=Implementation%20of%20%27Dual%20Improvement%20in%20Quality%20and%20Returns%27%20Action%20Plan) The company has not disclosed an announcement regarding the "Dual Improvement in Quality and Returns" action plan - The company has **not disclosed an announcement** regarding the "Dual Improvement in Quality and Returns" action plan[63](index=63&type=chunk) [Corporate Governance, Environment, and Society](index=19&type=section&id=Corporate%20Governance%2C%20Environment%2C%20and%20Society) [Changes in Directors, Supervisors, and Senior Management](index=19&type=section&id=Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) There were no changes in the company's directors, supervisors, or senior management during the reporting period, with details available in the 2024 annual report - The company's directors, supervisors, and senior management **did not change** during the reporting period[64](index=64&type=chunk) [Profit Distribution and Capital Reserve Conversion to Share Capital During the Reporting Period](index=19&type=section&id=Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20During%20the%20Reporting%20Period) The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period - The company plans **not to distribute cash dividends, bonus shares, or convert capital reserves into share capital** for the semi-annual period[65](index=65&type=chunk) [Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=19&type=section&id=Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The company implemented a 2023 restricted stock incentive plan, with some granted but unvested shares canceled due to employee departures and unmet performance targets, reducing the total number of incentive recipients and unvested shares - The company implemented a **2023 restricted stock incentive plan**, including an initial grant of **649,500 shares** and a reserved grant of **150,500 shares**, both at a grant price of **CNY 14.67/share**[66](index=66&type=chunk)[67](index=67&type=chunk) - During the reporting period, **125,250 restricted shares were canceled** due to the departure of 10 incentive recipients[69](index=69&type=chunk) - Performance targets for the second vesting period of the initial grant and the first vesting period of the reserved grant were not met, leading to the cancellation of **132,900 shares and 67,750 shares**, respectively[69](index=69&type=chunk) - Following these cancellations, the total number of incentive recipients was adjusted to **35**, and the number of granted but unvested restricted shares was adjusted from 570,850 shares to **244,950 shares**[69](index=69&type=chunk) [Environmental Information Disclosure](index=21&type=section&id=Environmental%20Information%20Disclosure) The company and its major subsidiary, Hubei Gotopharm Bio-Technology Co., Ltd., are included in the list of enterprises required to disclose environmental information, with reports accessible via the Hubei environmental disclosure system Enterprises Included in the List for Environmental Information Disclosure | No. | Enterprise Name | Query Index for Environmental Information Disclosure Report | | :--- | :--- | :--- | | 1 | Hubei Gotopharm Co., Ltd. | http://219.140.164.18:8007/hbyfpl/frontal/index.html | | 2 | Hubei Gotopharm Bio-Technology Co., Ltd. | http://219.140.164.18:8007/hbyfpl/frontal/index.html | [Social Responsibility](index=21&type=section&id=Social%20Responsibility) The company reported no social responsibility disclosures during the reporting period - The company reported **no social responsibility disclosures** during the reporting period[72](index=72&type=chunk) [Significant Matters](index=22&type=section&id=Significant%20Matters) [Commitments Fulfilled and Overdue Unfulfilled by Actual Controller, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period](index=22&type=section&id=Commitments%20Fulfilled%20and%20Overdue%20Unfulfilled%20by%20Actual%20Controller%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20and%20as%20of%20the%20End%20of%20the%20Reporting%20Period) Commitments from the actual controller, shareholders, and the company regarding share reductions and measures to mitigate dilution from convertible bond issuance were being fulfilled on schedule, with no overdue unfulfilled items - Commitments by actual controller Xi Zubin, Chen Wenjing, and Danjiangkou Gotopharm Innovation Investment Partnership (Limited Partnership) regarding **share reductions** are being fulfilled normally, with a commitment period until April 8, 2026[74](index=74&type=chunk) - Commitments by the company's controlling shareholder, actual controller, directors, and senior management regarding **measures to mitigate dilution of immediate returns** from the issuance of convertible bonds to unspecified targets are being fulfilled normally, with a commitment period until November 28, 2028[74](index=74&type=chunk)[75](index=75&type=chunk) - All commitments are being **fulfilled on time**, with no overdue unfulfilled situations[75](index=75&type=chunk) [Non-Operating Funds Occupied by Controlling Shareholders and Other Related Parties from the Listed Company](index=23&type=section&id=Non-Operating%20Funds%20Occupied%20by%20Controlling%20Shareholders%20and%20Other%20Related%20Parties%20from%20the%20Listed%20Company) The company reported no non-operating funds occupied by controlling shareholders or other related parties during the reporting period - The company reported **no non-operating funds occupied** by controlling shareholders or other related parties during the reporting period[76](index=76&type=chunk) [Illegal External Guarantees](index=24&type=section&id=Illegal%20External%20Guarantees) The company reported no illegal external guarantees during the reporting period - The company reported **no illegal external guarantees** during the reporting period[77](index=77&type=chunk) [Appointment and Dismissal of Accounting Firms](index=24&type=section&id=Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's semi-annual report was unaudited - The company's semi-annual report was **unaudited**[78](index=78&type=chunk) [Board of Directors, Supervisory Board, and Audit Committee's Explanation on 'Non-Standard Audit Report' for the Current Period](index=24&type=section&id=Board%20of%20Directors%2C%20Supervisory%20Board%2C%20and%20Audit%20Committee%27s%20Explanation%20on%20%27Non-Standard%20Audit%20Report%27%20for%20the%20Current%20Period) The company reported no non-standard audit report for the current period - The company reported **no non-standard audit report** for the current period[79](index=79&type=chunk) [Board of Directors' Explanation on 'Non-Standard Audit Report' for the Previous Year](index=24&type=section&id=Board%20of%20Directors%27%20Explanation%20on%20%27Non-Standard%20Audit%20Report%27%20for%20the%20Previous%20Year) The company reported no non-standard audit report for the previous year - The company reported **no non-standard audit report** for the previous year[79](index=79&type=chunk) [Bankruptcy Reorganization Matters](index=24&type=section&id=Bankruptcy%20Reorganization%20Matters) The company reported no bankruptcy reorganization matters during the reporting period - The company reported **no bankruptcy reorganization matters** during the reporting period[79](index=79&type=chunk) [Litigation Matters](index=24&type=section&id=Litigation%20Matters) The company had no significant litigation or arbitration matters, with a commercial secret dispute finalized and three construction contract disputes ongoing, totaling approximately CNY 4.33 million, for which provisions have been made - The company reported **no significant litigation or arbitration matters** during the reporting period[80](index=80&type=chunk) - The company's commercial secret infringement dispute against Su Zhengding, as plaintiff, has concluded with a **final judgment upholding the original verdict**, having no material impact on the company's operations[80](index=80&type=chunk) Other Litigation Matters | Basic Information of Litigation (Arbitration) | Amount Involved (CNY million) | Provision for Estimated Liabilities | Litigation (Arbitration) Progress | Outcome and Impact of Litigation (Arbitration) | | :--- | :--- | :--- | :--- | :--- | | Dispute between Gotopharm Bio and Hubei Hengchangtai Construction Engineering Co., Ltd. | 1.40 | Yes | First instance ongoing | If the company loses, it will execute according to the court's judgment | | Dispute between Gotopharm Bio and Zhongfu Construction Group Co., Ltd. Danjiangkou Branch | 2.51 | Yes | First instance ongoing | If the company loses, it will execute according to the court's judgment | | Dispute between Gotopharm Bio and Danjiangkou Tianxing Technology Development Co., Ltd. | 0.42 | Yes | First instance ongoing | If the company loses, it will execute according to the court's judgment | [Penalties and Rectification](index=25&type=section&id=Penalties%20and%20Rectification) The company reported no penalties or rectification situations during the reporting period - The company reported **no penalties or rectification situations** during the reporting period[82](index=82&type=chunk) [Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=25&type=section&id=Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) The company reported no disclosures regarding the integrity status of its controlling shareholder or actual controller during the reporting period - The company reported **no disclosures** regarding the integrity status of its controlling shareholder or actual controller during the reporting period[83](index=83&type=chunk) [Significant Related Party Transactions](index=25&type=section&id=Significant%20Related%20Party%20Transactions) The company reported no significant related party transactions during the reporting period, including those related to daily operations, asset/equity acquisitions/disposals, joint external investments, related party receivables/payables, or financial company dealings - The company reported **no significant related party transactions** during the reporting period, including those related to daily operations, asset/equity transactions, joint investments, receivables/payables, or dealings with financial companies[83](index=83&type=chunk)[84](index=84&type=chunk)[85](index=85&type=chunk)[86](index=86&type=chunk)[87](index=87&type=chunk)[88](index=88&type=chunk)[89](index=89&type=chunk) [Significant Contracts and Their Performance](index=26&type=section&id=Significant%20Contracts%20and%20Their%20Performance) The company reported no significant contracts or their performance during the reporting period, including entrustment, contracting, leasing, major guarantees, or other significant operational contracts - The company reported **no entrustment, contracting, leasing matters, major guarantees, significant daily operating contracts, or other significant contracts** during the reporting period[90](index=90&type=chunk)[91](index=91&type=chunk)[92](index=92&type=chunk)[93](index=93&type=chunk)[94](index=94&type=chunk) [Explanation of Other Significant Matters](index=26&type=section&id=Explanation%20of%20Other%20Significant%20Matters) The company reported no other significant matters requiring explanation during the reporting period - The company reported **no other significant matters** requiring explanation during the reporting period[95](index=95&type=chunk) [Significant Matters of Company Subsidiaries](index=27&type=section&id=Significant%20Matters%20of%20Company%20Subsidiaries) The company reported no significant matters concerning its subsidiaries during the reporting period - The company reported **no significant matters concerning its subsidiaries** during the reporting period[96](index=96&type=chunk) [Share Changes and Shareholder Information](index=28&type=section&id=Share%20Changes%20and%20Shareholder%20Information) [Share Capital Changes](index=28&type=section&id=Share%20Capital%20Changes) During the reporting period, restricted shares decreased by 1,532,681, while unrestricted shares increased by the same amount, keeping the total share capital unchanged, with the company initiating a share repurchase plan Share Capital Changes | Share Class | Number Before Change (shares) | Proportion Before Change | Increase/Decrease in Change (shares) | Number After Change (shares) | Proportion After Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 40,147,125 | 34.83% | -1,532,681 | 38,614,444 | 33.50% | | II. Unrestricted Shares | 75,132,291 | 65.17% | 1,532,681 | 76,664,972 | 66.50% | | III. Total Shares | 115,279,416 | 100.00% | 0 | 115,279,416 | 100.00% | - The company initiated a **share repurchase plan** in February 2025, intending to repurchase **CNY 20 million to CNY 30 million** worth of shares for equity incentives or employee stock ownership plans, with a repurchase price not exceeding CNY 23.84/share[99](index=99&type=chunk) - As of June 30, 2025, the company had cumulatively repurchased **197,500 shares**, representing **0.17% of total share capital**, with a total transaction amount of **CNY 3,029,925.00**[99](index=99&type=chunk) Changes in Restricted Shares | Shareholder Name | Restricted Shares at Period Start (shares) | Shares Released from Restriction This Period (shares) | Restricted Shares at Period End (shares) | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | | Xi Zubin | 27,425,250 | 0 | 27,425,250 | Senior Management Locked Shares | | Li Minglei | 11,528,250 | 1,234,275 | 10,293,975 | Senior Management Locked Shares | | Jiang Jianjun | 1,193,625 | 298,406 | 895,219 | Senior Management Locked Shares | | **Total** | **40,147,125** | **1,532,681** | **38,614,444** | **--** | [Securities Issuance and Listing](index=29&type=section&id=Securities%20Issuance%20and%20Listing) The company reported no securities issuance or listing during the reporting period - The company reported **no securities issuance or listing** during the reporting period[102](index=102&type=chunk) [Shareholder Numbers and Shareholding](index=29&type=section&id=Shareholder%20Numbers%20and%20Shareholding) As of the end of the reporting period, the company had 12,546 common shareholders, with Xi Zubin as the largest shareholder (31.72%) and Li Minglei holding 11.91%, and certain parties acting in concert since the IPO - As of the end of the reporting period, the total number of common shareholders was **12,546**[103](index=103&type=chunk) Shareholding of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | Shares Held at Period End (shares) | Restricted Shares Held (shares) | Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Xi Zubin | Domestic Natural Person | 31.72% | 36,567,000 | 27,425,250 | 9,141,750 | | Li Minglei | Domestic Natural Person | 11.91% | 13,725,300 | 10,293,975 | 3,431,325 | | Danjiangkou Gotopharm Innovation Investment Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 4.43% | 5,106,500 | 0 | 5,106,500 | | Zhejiang Huahai Pharmaceutical Co., Ltd. | Domestic Non-State-Owned Legal Person | 2.70% | 3,117,929 | 0 | 3,117,929 | | Hubei Gaojin Bio-Technology Venture Capital Fund Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 1.40% | 1,613,185 | 0 | 1,613,185 | | Zhang Xin | Domestic Natural Person | 1.22% | 1,400,900 | 0 | 1,400,900 | | Shenzhen Jiajun Lihao Investment Development Co., Ltd. | Domestic Non-State-Owned Legal Person | 1.19% | 1,366,700 | 0 | 1,366,700 | | Jiang Jianjun | Domestic Natural Person | 1.04% | 1,193,625 | 895,219 | 298,406 | | Guotai Jiatai Stock Special Pension Product - China Merchants Bank Co., Ltd. | Other | 1.01% | 1,162,400 | 0 | 1,162,400 | | Wang Shanyou | Domestic Natural Person | 0.86% | 990,100 | 0 | 990,100 | - Xi Zubin, Danjiangkou Gotopharm Innovation Investment Partnership (Limited Partnership), and Zhang Xin were **parties acting in concert** at the time of the company's initial public offering[104](index=104&type=chunk)[105](index=105&type=chunk) [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=31&type=section&id=Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) There were no changes in the shareholdings of the company's directors, supervisors, or senior management during the reporting period, with details available in the 2024 annual report - The shareholdings of the company's directors, supervisors, and senior management **did not change** during the reporting period[106](index=106&type=chunk) [Changes in Controlling Shareholder or Actual Controller](index=31&type=section&id=Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) The company's controlling shareholder and actual controller remained unchanged during the reporting period - The company's controlling shareholder and actual controller **remained unchanged** during the reporting period[107](index=107&type=chunk)[108](index=108&type=chunk) [Preferred Share Information](index=32&type=section&id=Preferred%20Share%20Information) The company had no preferred shares during the reporting period - The company had **no preferred shares** during the reporting period[109](index=109&type=chunk) [Bond-Related Information](index=33&type=section&id=Bond-Related%20Information) [Corporate Bonds](index=33&type=section&id=Corporate%20Bonds) The company had no corporate bonds during the reporting period - The company had **no corporate bonds** during the reporting period[111](index=111&type=chunk) [Company Bonds](index=33&type=section&id=Company%20Bonds) The company had no company bonds during the reporting period - The company had **no company bonds** during the reporting period[112](index=112&type=chunk) [Non-Financial Enterprise Debt Financing Instruments](index=33&type=section&id=Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) The company had no non-financial enterprise debt financing instruments during the reporting period - The company had **no non-financial enterprise debt financing instruments** during the reporting period[113](index=113&type=chunk) [Convertible Corporate Bonds](index=33&type=section&id=Convertible%20Corporate%20Bonds) The company issued CNY 380 million in "Gotopharm Convertible Bonds" in November 2022, with 99.98% remaining untransferred as of the reporting period, and a credit rating downgrade to A, though the company maintains good credit - The company issued **CNY 380 million** in convertible corporate bonds, "Gotopharm Convertible Bonds," on November 28, 2022, which were listed for trading on December 16, 2022[114](index=114&type=chunk) - As of the end of the reporting period, the number of convertible bondholders was **7,452**, with no guarantors[115](index=115&type=chunk) Cumulative Conversion to Shares | Convertible Corporate Bond Name | Total Issued (units) | Total Issued Amount (CNY) | Cumulative Conversion Amount (CNY) | Cumulative Converted Shares (shares) | Unconverted Amount (CNY) | Proportion of Unconverted Amount to Total Issued Amount | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Gotopharm Convertible Bonds | 3,800,000 | 380,000,000.00 | 65,900.00 | 2,416 | 379,934,100.00 | 99.98% | - The conversion price of "Gotopharm Convertible Bonds" was adjusted from CNY 27.14/share to **CNY 27.12/share** on June 12, 2024, due to the 2023 equity distribution[118](index=118&type=chunk) - The company's main credit rating was assessed as **A with a stable outlook** by Golden Credit Rating International Co., Ltd., but the credit rating for "Gotopharm Convertible Bonds" was downgraded to **A**[120](index=120&type=chunk) - The company's credit situation is **good**, with ample bank credit lines and stable operations, enabling it to pay bond principal and interest through its own funds and financing[120](index=120&type=chunk) [Loss in Consolidated Financial Statements Exceeding 10% of Net Assets at Year-End](index=35&type=section&id=Loss%20in%20Consolidated%20Financial%20Statements%20Exceeding%2010%25%20of%20Net%20Assets%20at%20Year-End) The company's loss in consolidated financial statements did not exceed 10% of net assets at the end of the previous year - The company's loss in consolidated financial statements **did not exceed 10% of net assets** at the end of the previous year[121](index=121&type=chunk) [Key Accounting Data and Financial Indicators for the Past Two Years as of the End of the Reporting Period](index=35&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators%20for%20the%20Past%20Two%20Years%20as%20of%20the%20End%20of%20the%20Reporting%20Period) As of the reporting period, the company's liquidity ratios improved, asset-liability ratio slightly increased to 66.02%, and net profit after non-recurring items declined, while EBITDA-related ratios significantly improved Key Accounting Data and Financial Indicators for the Past Two Years | Item | End of Current Period/Current Period | End of Prior Year/Prior Year Period | Change from Prior Year End/Prior Year Period | | :--- | :--- | :--- | :--- | | Current Ratio | 1.04 | 0.95 | 9.47% | | Asset-Liability Ratio | 66.02% | 63.63% | 2.39% | | Quick Ratio | 0.50 | 0.48 | 4.17% | | Net Profit (Excluding Non-Recurring Items) | -10.22 CNY million | -4.93 CNY million | -107.42% | | EBITDA to Total Debt Ratio | 4.47% | 1.18% | 3.29% | | Interest Coverage Ratio | 0.01 | -0.12 | 109.29% | | Cash Interest Coverage Ratio | 0.5 | 5.64 | -91.13% | | EBITDA Interest Coverage Ratio | 2.08 | 0.52 | 300.00% | | Loan Repayment Rate | 100.00% | 100.00% | 0.00% | | Interest Payment Rate | 100.00% | 100.00% | 0.00% | [Financial Report](index=36&type=section&id=Financial%20Report) [Audit Report](index=36&type=section&id=Audit%20Report) The company's semi-annual financial report was unaudited - The company's semi-annual financial report was **unaudited**[124](index=124&type=chunk) [Financial Statements](index=36&type=section&id=Financial%20Statements) This section presents the company's H1 2025 consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, detailing financial position, operating results, cash flows, and equity changes - This section includes the **consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity**[125](index=125&type=chunk)[129](index=129&type=chunk)[133](index=133&type=chunk)[137](index=137&type=chunk)[140](index=140&type=chunk)[143](index=143&type=chunk)[145](index=145&type=chunk)[152](index=152&type=chunk) [Company Basic Information](index=53&type=section&id=Company%20Basic%20Information) Hubei Gotopharm Co., Ltd., listed on the Shenzhen Stock Exchange in April 2021 with a registered capital of CNY 115.28 million, is a high-tech enterprise primarily engaged in R&D, production, and sales of steroid drug raw materials - The company was listed and traded on the Shenzhen Stock Exchange on **April 9, 2021**, with stock code "300966"[159](index=159&type=chunk) - The company's registered capital is **CNY 115,277,000.00**, and its legal representative is Xi Zubin[159](index=159&type=chunk) - The company primarily engages in the **R&D, production, and sales of steroid drug raw materials**, and is recognized as a high-tech enterprise[159](index=159&type=chunk) [Basis of Financial Statement Preparation](index=53&type=section&id=Basis%20of%20Financial%20Statement%20Preparation) The company's financial statements are prepared on a going concern basis, adhering to accounting standards issued by the Ministry of Finance and significant accounting policies and estimates, with no risks affecting its ability to continue as a going concern - Financial statements are prepared on a **going concern basis**, in accordance with the Enterprise Accounting Standards issued by the Ministry of Finance[161](index=161&type=chunk) - The company expects its **going concern ability to be good** within 12 months from the end of the reporting period, with no risks affecting its continued operation[162](index=162&type=chunk) [Significant Accounting Policies and Estimates](index=53&type=section&id=Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's adherence to enterprise accounting standards, accounting period, operating cycle, bookkeeping currency, materiality criteria, and policies for business combinations, financial instruments, receivables, inventory, fixed assets, revenue recognition, government grants, and deferred taxes - The company adheres to **Enterprise Accounting Standards**, with the accounting year being the calendar year, a normal operating cycle of 12 months, and **RMB as the bookkeeping currency**[164](index=164&type=chunk)[165](index=165&type=chunk)[166](index=166&type=chunk)[167](index=167&type=chunk) - Detailed provisions are made for the **classification, recognition, measurement, derecognition, and expected credit loss determination** of financial instruments, including notes receivable, accounts receivable, and other receivables[181](index=181&type=chunk)[183](index=183&type=chunk)[185](index=185&type=chunk)[186](index=186&type=chunk)[187](index=187&type=chunk)[188](index=188&type=chunk)[189](index=189&type=chunk)[190](index=190&type=chunk)[191](index=191&type=chunk)[192](index=192&type=chunk)[193](index=193&type=chunk)[194](index=194&type=chunk)[195](index=195&type=chunk)[196](index=196&type=chunk) - Clearly defined are the **classification, valuation methods, inventory system, and impairment provision standards for inventory**, as well as the recognition criteria and depreciation methods for fixed assets and capitalization standards for construction in progress[198](index=198&type=chunk)[199](index=199&type=chunk)[206](index=206&type=chunk)[207](index=207&type=chunk)[208](index=208&type=chunk) - Revenue recognition and measurement policies are based on **performance obligations**, distinguishing between principal and agent, and detailing the timing of revenue recognition for sales contracts, technical R&D services, and other services[229](index=229&type=chunk)[230](index=230&type=chunk)[231](index=231&type=chunk)[232](index=232&type=chunk) - Government grants are classified and accounted for based on their **relation to assets or income**, with clear recognition timing[234](index=234&type=chunk)[235](index=235&type=chunk)[236](index=236&type=chunk) [Taxation](index=69&type=section&id=Taxation) The company's main taxes include VAT (13%, 6%), Urban Maintenance and Construction Tax (7%, 1%), and Corporate Income Tax. Company and subsidiaries Hubei Gotopharm Bio-Technology Co., Ltd. and Hubei Gotopharm Steroid Research Institute Co., Ltd. apply a 15% preferential income tax rate due to high-tech enterprise status Major Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Taxable sales amount minus input tax | 13%, 6% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable | 7%, 1% | | Corporate Income Tax | Taxable income | 25%, 15%, 8.7% | Taxable Entities with Different Corporate Income Tax Rates | Taxable Entity Name | Income Tax Rate | | :--- | :--- | | Hubei Gotopharm Co., Ltd. | 15% | | Hubei Gotopharm Bio-Technology Co., Ltd. | 15% | | Hubei Gotopharm Medical Health Industry Co., Ltd. | 25% | | Hubei Huahai Gotopharm Co., Ltd. | 25% | | Hubei Gotopharm Steroid Research Institute Co., Ltd. | 15% | | Zhejiang Gotopharm Gongxin Pharmaceutical Technology Co., Ltd. | 25% | | Hubei Tongchuang High-end Steroid Innovative Drug Research Institute Co., Ltd. | 25% | | America AURORA Co.,Ltd | 8.7% | - The company and its subsidiaries, Hubei Gotopharm Bio-Technology Co., Ltd. and Hubei Gotopharm Steroid Research Institute Co., Ltd., are eligible for a **15% corporate income tax rate** during the reporting period due to their high-tech enterprise qualifications[248](index=248&type=chunk) [Notes to Consolidated Financial Statement Items](index=70&type=section&id=Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on consolidated financial statement items, including period-end and beginning balances and changes for monetary funds, receivables, inventory, fixed assets, construction in progress, borrowings, and revenue/cost - Monetary funds at period-end totaled **CNY 134 million**, of which **CNY 35.88 million was restricted** as guarantee deposits[250](index=250&type=chunk) - Accounts receivable at period-end totaled **CNY 239 million**, an increase of **1.40%** from the beginning of the period, primarily due to increased operating revenue[261](index=261&type=chunk) - Inventory at period-end totaled **CNY 440 million**, an increase of **1.20%** from the beginning of the period, mainly due to increased raw material reserves from capacity release of investment projects[289](index=289&type=chunk) - Fixed assets had a period-end book value of **CNY 1.132 billion**, and construction in progress had a period-end book value of **CNY 742 million**, with Huahai Gotopharm's 370-ton steroid API production project having a cumulative investment of **78.19%** of its budget[306](index=306&type=chunk)[316](index=316&type=chunk) - Short-term borrowings at period-end totaled **CNY 222 million**, a decrease of **2.98%** from the beginning of the period, mainly due to repayment of matured borrowings; long-term borrowings at period-end totaled **CNY 625 million**, an increase of **3.92%**, mainly due to increased project loans[343](index=343&type=chunk)[376](index=376&type=chunk) - Operating revenue was **CNY 302 million**, a **29.33% YoY increase**; operating cost was **CNY 237 million**, a **22.46% YoY increase**[409](index=409&type=chunk) - Financial expenses were **CNY 23.55 million**, a **230.79% YoY increase**, primarily due to capitalized interest being expensed after investment projects were transferred to fixed assets[422](index=422&type=chunk) - Net cash flow from operating activities was **CNY -5.79 million**, a **116.98% YoY decrease**, mainly due to reduced government grants received and cash received from sales[442](index=442&type=chunk) [Research and Development Expenses](index=109&type=section&id=Research%20and%20Development%20Expenses) During the reporting period, the company's total R&D expenditure was CNY 35.93 million, an increase of 77.16%, all expensed, primarily invested in materials, employee compensation, depreciation, and new process development R&D Expenditure Details | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Materials and Fuel Costs | 13,609,412.69 | 7,537,969.46 | | Employee Compensation | 9,811,589.88 | 8,591,822.63 | | Depreciation and Amortization | 3,790,379.37 | 2,950,216.28 | | New Process Development Costs | 7,615,532.79 | 705,596.26 | | Other | 1,099,286.38 | 492,973.94 | | **Total** | **35,926,201.11** | **20,278,578.57** | | Of which: Expensed R&D Expenditure | 35,926,201.11 | 20,278,578.57 | - Total R&D expenditure for the current period was **CNY 35.93 million**, a **77.16% YoY increase**, all of which was expensed[469](index=469&type=chunk) [Changes in Consolidation Scope](index=110&type=section&id=Changes%20in%20Consolidation%20Scope) The company reported no changes in its consolidation scope during the reporting period - The company reported **no changes in its consolidation scope** during the reporting period[471](index=471&type=chunk)[472](index=472&type=chunk) [Interests in Other Entities](index=111&type=section&id=Interests%20in%20Other%20Entities) The company holds interests in various subsidiaries, including Hubei Gotopharm Bio-Technology Co., Ltd. and Hubei Huahai Gotopharm Co., Ltd., covering chemical API production and R&D, and also has an equity investment in Shandong Tongxin Pharmaceutical Co., Ltd Composition of Enterprise Group | Subsidiary Name | Main Operating Location | Business Nature | Shareholding Ratio (Direct) | Acquisition Method | | :--- | :--- | :--- | :--- | :--- | | Hubei Gotopharm Bio-Technology Co., Ltd. | Danjiangkou City, Hubei | Chemical API Production | 100.00% | Acquisition under common control | | Hubei Gotopharm Medical Health Industry Co., Ltd. | Xiangyang City, Hubei | Pharmaceutical Technology R&D and Services | 100.00% | Acquisition under common control | | Hubei Huahai Gotopharm Co., Ltd. | Danjiangkou City, Hubei | Chemical API Production | 48.37% | Establishment | | Hubei Gotopharm Steroid Research Institute Co., Ltd. | Wuhan City, Hubei Province | Technology Development Services | 100.00% | Establishment | | Zhejiang Gotopharm Gongxin Pharmaceutical Technology Co., Ltd. | Hangzhou City, Zhejiang Province | Technology Development Services | 100.00% | Establishment | | Hubei Tongchuang High-end Steroid Innovative Drug Research Institute Co., Ltd. | Wuhan City, Hubei Province | Technology Development Services | 100.00% | Establishment | | America AURORA Co.,Ltd | Delaware, USA | Pharmaceutical Technology Development and Technical Services | 70.00% | Establishment | - The company holds **48.37% of Hubei Huahai Gotopharm Co., Ltd.**, but it is included in the consolidation scope because the company is the largest shareholder and holds a majority of voting rights on the board of directors, enabling control over the investee[474](index=474&type=chunk) Important Non-Wholly Owned Subsidiaries | Subsidiary Name | Minority Shareholding Ratio | Net Profit Attributable to Minority Shareholders This Period (CNY) | Minority Interest Balance at Period End (CNY) | | :--- | :--- | :--- | :--- | | Hubei Huahai Gotopharm Co., Ltd. | 51.63% | -3,501

Core Viewpoint - The company reported a revenue of 302 million yuan for the first half of 2025, reflecting a year-on-year growth of 29.33%. However, it also recorded a net loss of 11.15 million yuan, a decline of 117.88% compared to the previous period. The company has decided not to distribute cash dividends, issue bonus shares, or increase capital from reserves [1]. Financial Performance - Revenue for the first half of 2025 reached 302 million yuan, marking a 29.33% increase year-on-year [1]. - The net profit showed a loss of 11.15 million yuan, which is a significant decline of 117.88% [1]. Dividend Policy - The company announced that it will not distribute cash dividends, issue bonus shares, or utilize reserves for capital increase [1].

| 证券代码：300966 | 证券简称：共同药业 | 公告编号：2025-045 | | --- | --- | --- | | 转债代码：123171 | 转债简称：共同转债 | | 湖北共同药业股份有限公司 第三届监事会第七次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 湖北共同药业股份有限公司（以下简称"公司"）第三届监事会第七次会议于 2025 年 8 月 27 日在公司会议室以现场结合方式召开。会议通知及材料于 2025 年 8 月 18 日以电话、微信等通讯的方式送达。会议由公司监事会主席蒋建军主持，会议 应到监事 3 人，实际参会监事 3 人。 会议的召开符合《中华人民共和国公司法》《湖北共同药业股份有限公司章程》 《湖北共同药业股份有限公司监事会议事规则》的规定，会议决议合法有效。 二、监事会会议审议情况 经全体监事认真审议并表决，会议审议通过了以下议案： 审议通过《关于〈公司 2025 年半年度报告〉及其摘要的议案》 经审议，监事会认为：董事会编制和审核的《2025 年半年度报告》及《2025 年 半 ...