Revenue and Profit - Revenue for Q1 2022 reached ¥95,802,322.64, an increase of 114.26% compared to ¥44,712,533.27 in the same period last year[4] - Net profit attributable to shareholders was ¥19,529,827.85, up 352.57% from ¥4,315,275.49 year-on-year[4] - Basic earnings per share increased to ¥0.18, representing a growth of 260.00% compared to ¥0.05 in the previous year[4] - Operating profit for the quarter was ¥16,859,281.24, up from ¥3,433,329.27, reflecting a growth of approximately 390% year-over-year[33] - Net profit attributable to the parent company was ¥19,529,827.85, compared to ¥4,315,275.49 in the previous year, marking an increase of about 353%[33] - Basic and diluted earnings per share for the quarter were both ¥0.18, compared to ¥0.05 in the same period last year, representing a 260% increase[36] Expenses and Costs - Research and development expenses surged to ¥44,014,040.32, a 263.32% increase from ¥12,114,330.77 in the same period last year[12] - The total operating costs for the quarter were ¥80,721,016.07, up from ¥41,034,563.58, which is an increase of about 97% year-over-year[30] - The company reported a financial expense of -¥11,046,988.42, a significant improvement compared to ¥260,929.15 in the previous year[30] Cash Flow and Liquidity - The net cash flow from operating activities was -¥33,055,022.37, a decline of 545.00% compared to -¥5,124,775.28 in the previous year[12] - Operating cash inflow for the period was CNY 104,198,451.75, compared to CNY 47,901,106.52 in the previous period, indicating a significant increase[37] - Cash outflow from operating activities totaled CNY 137,253,474.12, up from CNY 53,025,881.80 in the previous period, resulting in a net cash flow from operating activities of CNY -33,055,022.37[37] - Cash outflow for investing activities was CNY 107,504,546.11, compared to CNY 89,178,749.68 in the previous period, leading to a net cash flow from investing activities of CNY -107,499,855.85[40] - Cash outflow from financing activities reached CNY 240,411,585.24, significantly higher than CNY 1,935,857.07 in the previous period, resulting in a net cash flow from financing activities of CNY -240,411,585.24[40] - The net increase in cash and cash equivalents was CNY -380,966,463.46, compared to CNY -74,547,033.01 in the previous period[40] - The ending balance of cash and cash equivalents was CNY -322,908,967.51, down from CNY 58,057,495.95 at the beginning of the period[40] Assets and Liabilities - Total assets decreased by 10.53% to ¥2,616,781,425.54 from ¥2,924,873,724.42 at the end of the previous year[4] - The total liabilities include short-term borrowings of ¥5,006,111.11 and accounts payable of ¥47,852,813.03, with accounts payable decreasing from ¥129,832,845.11[23] - Total liabilities decreased to ¥278,624,958.90 from ¥607,099,838.11, a reduction of about 54%[26] - The company's total equity increased to ¥2,338,156,466.64 from ¥2,317,773,886.31, reflecting a growth of approximately 0.9%[26] - The company reported a total of 1,888,798,999.70 in current assets, down from 2,225,554,608.43, a decrease of approximately 15%[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 18,500, with no preferred shareholders having restored voting rights[13] - The largest shareholder, Shao Chunnan, holds 18.72% of the shares, amounting to 20,250,000 shares[16] - The company has no preferred shareholders and no changes in restricted shares during the reporting period[20] Other Financial Information - The company received government subsidies amounting to ¥6,015,474.42 during the reporting period[7] - The company reported a significant increase in accounts receivable, which rose by 141.23% to ¥1,100,000.00 from ¥456,000.00 at the beginning of the period[8] - Accounts receivable increased to ¥99,707,532.34 from ¥76,755,728.68, reflecting a growth of about 30%[20] - Inventory at the end of the reporting period is ¥31,018,704.39, up from ¥22,851,850.91, indicating an increase of approximately 36%[23] - The company received CNY 15,809,390.72 in tax refunds during the period, which was not reported in the previous period[37] - The company paid CNY 49,847,041.33 to employees, an increase from CNY 27,929,025.81 in the previous period[37] Audit and Reporting - The first quarter report was not audited, indicating a need for caution in interpreting the financial results[41]

Financial Performance - The company's operating revenue for 2021 was CNY 374,311,815.33, representing an increase of 80.61% compared to CNY 207,247,808.83 in 2020[32]. - The net profit attributable to shareholders of the listed company in 2021 was CNY 111,088,253.50, a growth of 93.52% from CNY 57,403,684.97 in 2020[32]. - The net profit after deducting non-recurring gains and losses was CNY 102,894,486.94, up 87.54% from CNY 54,865,744.32 in 2020[32]. - The net cash flow from operating activities reached CNY 145,424,030.12, an increase of 167.52% compared to CNY 54,360,128.09 in 2020[32]. - The total assets at the end of 2021 amounted to CNY 2,924,873,724.42, a significant increase of 357.16% from CNY 639,794,047.15 at the end of 2020[32]. - The net assets attributable to shareholders of the listed company were CNY 2,317,911,097.31, reflecting a growth of 581.36% from CNY 340,186,622.89 in 2020[32]. - The basic earnings per share for 2021 was CNY 1.37, representing a 92.96% increase from CNY 0.71 in 2020[32]. - The weighted average return on net assets increased to 27.94% in 2021 from 18.80% in 2020[32]. - The company reported a net profit of CNY 46,569,470.14 in the fourth quarter of 2021, showing strong quarterly performance[35]. - The company achieved a revenue share of 32.17 million yuan (excluding tax) from the jointly invested project with Huayuan Pharmaceutical for Valsartan and Amlodipine tablets in 2021[97]. - The company reported a significant increase in sales expenses, which rose by 244.59% to CNY 6.71 million, indicating increased marketing efforts[132]. - The company achieved a subtotal of ¥53,128,997.90 in preclinical pharmaceutical research, which is a 49.63% increase from the previous year[156]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 6.00 RMB (including tax) for every 10 shares, totaling 108,166,667 shares[8]. Risks and Compliance - The report highlights potential risks in the company's future development strategies, urging investors to be cautious[8]. - The company emphasizes the importance of accurate and complete financial reporting, ensuring accountability from its management team[6]. - The company has no significant discrepancies between financial reports prepared under international accounting standards and Chinese accounting standards[36]. Research and Development - The company has established a comprehensive drug development and quality assurance system, enhancing its competitive advantage in the market[57]. - The company is currently developing five innovative drug projects targeting various pathways, with BIOS-0618 having received clinical approval and entering Phase I trials[73]. - The company has established strategic partnerships with multiple clinical trial bases, enhancing its clinical trial service capabilities[60]. - The company has established core technology platforms for innovative drug research, generic drug consistency evaluation, and pharmacokinetics studies, supporting its rapid and sustainable development[88]. - The company has developed a platform for inhalation formulations since 2014, ensuring the quality of inhalation generic drugs is comparable to reference formulations[90]. - The company has accumulated rich technical experience in the development of controlled-release formulations since 2017, focusing on various key processes for industrialization[90]. - The company has successfully developed a variety of inhalation formulations, leveraging its complete research and development system[90]. - The company has focused on developing new indications for drugs based on unmet medical needs and unique drug properties[90]. - The company has established a strong foundation in pharmacological research since its inception, aligning with national requirements for generic drug quality and efficacy[90]. - The company has completed over 200 compatibility studies, with more than 30 results passing CDE technical review and on-site verification, aiding clients in obtaining production licenses[96]. - The company has developed multiple advanced drug delivery technologies, including multi-layer skeleton sustained-release technology and transdermal drug delivery systems[95]. - The company has accumulated rich technical experience in taste masking technology, successfully applying coating technology for taste improvement since 2019[96]. - The company has established a BE/PK research platform with over 100 BE/PK project experiences, addressing issues in study design, biological sample analysis, and data deviation[96]. - The company has a total of 33 R&D projects with sales rights sharing as of the end of the reporting period[97]. - The company has made significant progress in its R&D projects, including the development of new drugs targeting neuropathic pain and tumors, with IND clinical approval obtained for BIOS-0618[157]. Market and Industry Trends - The CRO market is projected to grow from $57.9 billion in 2018 to $95.2 billion by 2023, with a compound annual growth rate (CAGR) of 10.3%[45]. - The Chinese CDMO market is expected to reach ¥123.5 billion by 2025, with a CAGR of 31.26% from 2020 to 2025[56]. - The global CDMO market is forecasted to grow from $35.3 billion in 2020 to $106.6 billion by 2025, with a CAGR of 13.94%[54]. - The CRO market in China has seen a CAGR of 29.2% from 2014 to 2018, indicating rapid growth compared to the global average[48]. - The CRO industry in China has significant growth potential, with an estimated market space of approximately CNY 34 billion driven by the development of generic drugs and consistency evaluations[192]. - The global pharmaceutical CDMO market grew from $35.3 billion in 2016 to $55.5 billion in 2020, with a CAGR of 11.98%[197]. - The Chinese pharmaceutical CDMO market expanded from ¥10.5 billion in 2016 to ¥31.7 billion in 2020, achieving a CAGR of 31.82%[198]. - The global chemical CDMO market increased from $25.9 billion in 2016 to $37.5 billion in 2020, with a CAGR of 9.69%[197]. - The Chinese chemical CDMO market grew from ¥8 billion in 2016 to ¥22.6 billion in 2020, with a CAGR of 29.64%[198]. Workforce and Human Resources - The company has a workforce of 765 employees and operates in a 18,000 m² facility, equipped with advanced instruments and equipment[57]. - The proportion of employees with a bachelor's degree or higher is 67.71%, with 71.89% of the workforce engaged in technical R&D[130]. - The number of R&D personnel increased by 47.06% from 374 in 2020 to 550 in 2021, with a notable shift in educational background[160]. - The proportion of R&D personnel with a bachelor's degree increased by 30.92% from 194 in 2020 to 255 in 2021[160]. Compliance and Quality Assurance - The company has developed a comprehensive compliance training program for all employees, ensuring they are qualified before starting operations[118]. - The quality assurance (QA) department conducts regular on-site inspections to monitor compliance and address any identified issues[118]. - The company has a dedicated warehouse management team to oversee material management, ensuring proper tracking and compliance[118]. - Stability testing samples are managed by the QA department, with online monitoring systems in place to ensure sample conditions meet testing requirements[118]. - The company has established a continuous and unmodifiable ledger for recording the usage of research and development equipment and materials[118]. - The company has established a comprehensive quality management system to ensure the authenticity and reliability of experimental data[115]. Strategic Initiatives - The company has established strategic partnerships with cooperative hospitals to conduct PK/BE studies[96]. - The company has implemented a strategy to retain partial rights for certain products recommended to clients, allowing for ongoing revenue sharing post-market launch[109]. - The company is focusing on five first-class innovative drug projects, enhancing its R&D pipeline in the field of generic drugs while increasing investment in innovative drugs[165]. - The company aims to develop high-quality and high-end generic drugs, leveraging CRO capabilities to shorten development cycles and improve efficiency[194]. - The company plans to expand its business scope to include pharmaceuticals, medical devices, health products, and chemicals, positioning itself as a comprehensive health product R&D enterprise[198]. Financial Management - The company raised a total of CNY 215,251.67 million from its initial public offering, with a net amount of CNY 186,343.01 million after deducting issuance costs[177]. - As of December 31, 2021, the company had not utilized any of the raised funds, which are stored in a dedicated account[177]. - The company has a total of CNY 121,291.23 million in unused raised funds, which will be allocated based on future development needs[181]. - The estimated liabilities increased to CNY 85,827,359.01, reflecting a 2.93% rise, attributed to the expansion of business scale and increased operating revenue[173]. - The company reported a total of non-current liabilities due within one year amounting to CNY 229,120,819.76, representing a 7.83% increase[173]. - The cash flow from investment activities showed a net outflow of ¥251,158,415.14 in 2021, a slight improvement of 1.81% compared to the previous year[166]. - The net cash flow from financing activities surged by 1,264.99% to ¥1,982,131,366.91 in 2021, largely due to the proceeds from the public offering of shares[167].