申联生物(688098) - 2025 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2025 was ¥121,725,138.28, a decrease of 3.68% compared to ¥126,375,941.30 in the same period last year[17]. - The total profit for the period was -¥16,264,533.38, showing an improvement from -¥37,150,792.27 year-on-year[17]. - The net profit attributable to shareholders was -¥12,869,700.94, compared to -¥34,507,973.32 in the previous year[17]. - The net cash flow from operating activities was -¥39,389,053.48, significantly worse than -¥805,633.37 in the same period last year[17]. - The company's total assets at the end of the reporting period were ¥1,536,673,985.58, down 1.12% from ¥1,554,117,949.14 at the end of the previous year[17]. - The net assets attributable to shareholders decreased by 1.03% to ¥1,396,745,623.14 from ¥1,411,295,212.77[17]. - The basic earnings per share for the period was -¥0.03, an improvement from -¥0.08 year-on-year[18]. - The weighted average return on net assets was -0.92%, an improvement from -2.35% in the previous year[18]. Research and Development - The R&D expenditure as a percentage of operating revenue was 22.32%, a decrease of 14.68 percentage points from 37.00% in the previous year[18]. - The company is focusing on research and development, with ongoing progress in its product pipeline and an expansion of its GMP production line types[19]. - The company is committed to developing innovative vaccines and diagnostic products for economic animals, pets, and aquaculture[23]. - The company has a rich pipeline of vaccines and diagnostic products under development, including various vaccines for pigs and cattle[24]. - The company has established five major technology platforms: synthetic peptide technology, genetic engineering technology, new inactivated vaccine technology, nucleic acid (mRNA) technology, and in vitro diagnostic technology, enhancing its core competitiveness in the market[51]. - The company is actively advancing the clinical trial process for its core innovative drugs, UB-421, UB-221, and UB-621, leveraging its management and production capabilities[50]. Market Strategy and Expansion - The company is focusing on expanding its presence in the human innovative drug sector and is exploring a dual-main business model[17]. - The company is strategically adjusting its operations to better align with customer needs and market expansion[19]. - The company is expanding its international business through a "three-step overseas strategy," collaborating on research and development in Southeast Asia, Central Asia, and Africa[35]. - The company is pursuing a strategy of vertical integration in the animal health market and horizontal collaboration in human innovative drugs, creating a differentiated competitive barrier[55]. - The company is enhancing its bacterial vaccine layout through new genetic engineering technologies to meet the increasing demand for bacterial vaccines under the "reduce antibiotics" policy[59]. Financial Investments and Assets - Cash and cash equivalents decreased by 63.70% to ¥53,076,209.98, accounting for 3.45% of total assets[127]. - Trading financial assets increased by 73.19% to ¥75,883,586.11, representing 4.94% of total assets[127]. - Long-term equity investments rose significantly by 1,229.07% to ¥21,034,042.22, now 1.37% of total assets, due to investment in Yangzhou Shizhi Source Biotechnology Co., Ltd.[127]. - Fixed assets increased by 16.40% to ¥734,829,277.67, making up 47.82% of total assets, primarily due to the completion of the animal inactivated vaccine workshop[127]. - The company invested ¥60,000,000 in Yangzhou Shizhi Source Biotechnology Co., Ltd., acquiring a 20.48% stake[134]. Regulatory and Compliance - The veterinary bioproducts industry is regulated by the Ministry of Agriculture and Rural Affairs, with various organizations overseeing technical supervision and industry standards[43]. - The implementation of GMP standards has raised the entry barriers for veterinary bioproduct companies, increasing their operational costs[47]. - The company has established a fundraising management system to ensure that raised funds are used legally and specifically for designated projects[162]. - The company will strictly adhere to all public commitments made during its initial public offering and listing on the Sci-Tech Innovation Board[166]. Corporate Governance and Commitments - The company has reported a commitment to avoid competition with major shareholders and related parties, effective from March 26, 2019, and continuing indefinitely[150]. - The company has committed to reducing and regulating related party transactions, with a commitment period from March 20, 2019, to after departure[150]. - The company guarantees that its controlled enterprises will not engage in any competitive activities with its own business operations[158]. - The company will avoid related party transactions with its subsidiaries and will comply with relevant laws and regulations[160].