基蛋生物(603387) - 2025 Q2 - 季度财报

Important Notice This section highlights the proposed profit distribution plan, clarifies forward-looking statement risks, and provides a major risk warning Profit Distribution Plan The board approved the 2025 semi-annual profit distribution, proposing RMB 0.9 yuan per 10 shares cash dividend, totaling 45.64 million yuan 2025 Semi-Annual Profit Distribution Plan | Metric | Amount/Ratio | | :--- | :--- | | Dividend per 10 shares (tax inclusive) | 0.9 yuan | | Total cash dividend (tax inclusive) | 45,643,816.53 yuan | | Percentage of net profit attributable to parent company | 41.95% | - This profit distribution plan does not require submission to the general meeting of shareholders, as it has been authorized by the 2024 Annual General Meeting of Shareholders[6] Risk Statement for Forward-Looking Statements Forward-looking statements in this report, including future plans, do not constitute substantial commitments, and investors are reminded of investment risks - The company reminds investors that forward-looking statements in the report do not constitute substantial commitments and involve investment risks[7] Major Risk Warning The company has detailed risk factors and countermeasures for future development strategies and operational goals in the Management Discussion and Analysis - The company has fully disclosed risk factors and countermeasures for future development in the Management Discussion and Analysis section[9] Definitions This section provides definitions for common terms used throughout the report to ensure accurate understanding of the content Common Terminology Definitions This chapter provides definitions for common terms used in the report, including company abbreviations, subsidiary names, professional terms, and financial units - The reporting period refers to January 1, 2025, to June 30, 2025[14] - POCT is the English abbreviation for Point-of-Care Testing[14] - IVD is the English abbreviation for In Vitro Diagnostics[14] Company Profile and Key Financial Indicators This section provides an overview of the company's basic information, contact details, stock profile, and a summary of key accounting data and financial performance for the reporting period Company Information This section introduces the company's basic information, including its Chinese name, abbreviation, foreign name, and legal representative - The company's Chinese name is Getain Biotechnology Co., Ltd., abbreviated as Getain Bio[16] - The legal representative is Su Enben[16] Contact Person and Details This section provides contact information for the company's Board Secretary and Securities Affairs Representative, including names, addresses, telephone numbers, fax numbers, and email addresses - The Board Secretary is Liu Cong, and the Securities Affairs Representative is Wang Jiao[17] - The contact address for both is No. 9 Bofu Road, Yanjiang Industrial Development Zone, Luhe District, Nanjing City[17] Changes in Basic Information This section states that the company's registered and office addresses have not changed historically and provides the company's website and email address - The company's registered and office addresses are both No. 9 Bofu Road, Yanjiang Industrial Development Zone, Luhe District, Nanjing City, with no changes during the reporting period[18] Information Disclosure and Document Storage Location Changes This section discloses that the company's designated information disclosure newspaper is "Shanghai Securities News," the website for semi-annual reports is www.sse.com.cn, and the document storage location is the company's Board of Directors Office, with no changes during the reporting period - The company's information disclosure newspaper is "Shanghai Securities News," and its website is www.sse.com.cn[19](index=19&type=chunk) Company Stock Overview This section introduces the company's stock type, listing exchange, stock abbreviation, and stock code - The company's stock is A-shares, listed on the Shanghai Stock Exchange, with stock abbreviation Getain Bio and stock code 603387[20] Key Accounting Data and Financial Indicators In the first half of 2025, the company's operating revenue decreased by 17.00% year-on-year, total profit decreased by 33.49%, and net profit attributable to shareholders of the listed company decreased by 25.88%, primarily due to changes in domestic market demand and a decline in operating revenue 2025 Semi-Annual Key Accounting Data | Key Accounting Data (Jan-Jun) | Current Period (yuan) | Prior Period (yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating revenue | 512,692,328.58 | 617,667,779.49 | -17.00 | | Total profit | 110,525,517.41 | 166,182,614.71 | -33.49 | | Net profit attributable to shareholders of the listed company | 108,808,763.23 | 146,808,888.87 | -25.88 | | Net profit attributable to shareholders of the listed company after non-recurring gains/losses | 93,228,621.81 | 130,432,838.68 | -28.52 | | Net cash flow from operating activities | 147,186,036.42 | 163,062,043.97 | -9.74 | | Net assets attributable to shareholders of the listed company (period-end) | 2,684,033,328.85 | 2,618,960,854.01 | 2.48 | 2025 Semi-Annual Key Financial Indicators | Key Financial Indicators (Jan-Jun) | Current Period | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic EPS (yuan/share) | 0.21 | 0.29 | -27.59 | | Diluted EPS (yuan/share) | 0.21 | 0.29 | -27.59 | | Basic EPS after non-recurring gains/losses (yuan/share) | 0.18 | 0.26 | -30.77 | | Weighted average ROE (%) | 4.08 | 5.59 | Decrease of 1.51 percentage points | | Weighted average ROE after non-recurring gains/losses (%) | 3.50 | 4.97 | Decrease of 1.47 percentage points | - Operating revenue decreased by 17.00%, primarily due to changes in domestic market demand[23] - Total profit, net profit attributable to parent company, and non-recurring net profit attributable to parent company decreased, mainly due to a decline in operating revenue[24] - Net cash flow from operating activities decreased by 9.74%, primarily due to reduced sales collections resulting from lower operating revenue[24] Non-recurring Gains and Losses Items and Amounts This section lists the non-recurring gains and losses items and their amounts for the first half of 2025, totaling 15,580,141.42 yuan 2025 Semi-Annual Non-recurring Gains and Losses Items and Amounts | Non-recurring Gains and Losses Item | Amount (yuan) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 115,015.06 | | Government grants recognized in current profit or loss | 750,747.59 | | Gains or losses from changes in fair value and from disposal of financial assets and liabilities | 15,721,758.28 | | Gains or losses from entrusted investments or asset management | 3,698,916.90 | | Other non-operating income and expenses | -2,045,512.85 | | Other gains and losses that meet the definition of non-recurring gains and losses | 278,194.41 | | Less: Income tax impact | 2,826,821.86 | | Minority interest impact (after tax) | 112,156.11 | | Total | 15,580,141.42 | Management Discussion and Analysis This section provides an in-depth analysis of the company's industry, main business operations, core competencies, key financial performance, and potential risks and countermeasures Company's Industry and Main Business The company specializes in the In Vitro Diagnostics (IVD) industry, with products spanning POCT, chemiluminescence, biochemistry, and molecular diagnostics; the global IVD market shows steady growth, while China's market benefits from policy drivers and accelerated domestic substitution, with the company expanding its multi-technology platform product system through independent R&D and actively developing domestic and international markets, adding numerous product registration certificates and advancing R&D projects in various fields during the reporting period Company's Industry Situation The company operates in the In Vitro Diagnostics (IVD) product manufacturing sector within the pharmaceutical industry; the global IVD market is projected to reach $135.103 billion by 2029 with a CAGR of 4.3%, while China's IVD market is rapidly expanding, driven by immune diagnostics and POCT as key segments and increasing demand for automated assembly lines, positioning the company with a strong presence in multi-technology platforms and fully automated products - The company's industry is C358, Medical Instrument and Equipment Manufacturing, within C27 Pharmaceutical Manufacturing[29] - In Vitro Diagnostics (IVD) is a crucial source of clinical diagnostic information, experiencing rapid development driven by policy, an aging population, and rising chronic disease incidence[30] Global In Vitro Diagnostics Market Size Forecast | Year | Market Size (billion USD) | CAGR (next 5 years) | | :--- | :--- | :--- | | 2024 (Est.) | 109.2 | - | | 2029 (Est.) | 135.103 | 4.3% | - China's IVD market is experiencing high growth, with immune diagnostics as the largest segment and POCT as the fastest-growing market[31][32] - The company has established eight major technology platforms: POCT, chemiluminescence, biochemical testing, molecular diagnostics, thrombosis and hemostasis testing, blood cell analysis, urinalysis, and quality control diagnostic raw materials[34] - National policies support grassroots medical capacity building, expand the scope of clinical-exempt products, and accelerate the approval and listing of low-risk in vitro diagnostic reagents[35][36] Company's Main Business Operations The company has focused on R&D, production, sales, and service of in vitro diagnostic reagents and instruments for over 20 years, establishing a multi-technology platform, multi-product, multi-channel, and multi-market sales system; during the reporting period, it added 17 domestic and 386 international product registration certificates, accumulating 3,245 total certificates, while employing a dual-track distribution and direct sales marketing model, and optimizing production and procurement through an intelligent supply chain system - The company's main business covers eight major technology platforms, including POCT, chemiluminescence, biochemical testing, and molecular diagnostics[37] - The company's product line has expanded from single POCT to chemiluminescence, biochemistry, and assembly lines, with markets extending from grassroots clinics to graded hospitals and overseas markets[37] - In the first half of 2025, the company added 17 domestic product registration certificates and 386 international product registration certificates[43] - As of the end of the reporting period, the company had accumulated 3,245 product registration certificates, covered 67 countries and regions in overseas markets, and possessed nearly 2,800 product entry permits[43] - The company employs a dual-track marketing model of distribution and direct sales, collaborating with over 3,000 distributors domestically and leveraging local distributors for international business[45] - The production model adheres to "precise planning and full-process quality control," relying on an intelligent supply chain system and sales big data analysis[46] - The procurement model implements standardized systems, establishes a bidding and procurement committee to promote tender procurement, and optimizes JIT and VMI models by combining MRP+SRM[46][47] - Key R&D projects include the Metis5000 fully automatic coagulation analysis assembly line, Metis7000 fully automatic biochemical immunoassay assembly line, and GN7120/GN7000 fully automatic nucleic acid amplification analyzer, with some already launched or in trial production and verification stages[47][48][49] Discussion and Analysis of Operations In the first half of 2025, the company's operating revenue and net profit both declined, yet its chemiluminescence business continued to grow, with nearly 480 small chemiluminescence instruments installed, generating 150 million yuan in revenue, a 10.64% year-on-year increase; the company sustained innovation in assembly line and molecular rapid detection products, increasing R&D investment to 88 million yuan, accounting for 17.24% of revenue, while overseas business achieved 73 million yuan in revenue, growing 45.42% year-on-year, and also strengthened its quality management and after-sales service systems 2025 First Half Key Operating Data | Metric | Amount (hundred million yuan) | YoY Change (%) | | :--- | :--- | :--- | | Operating revenue | 5.13 | -17.00 | | Net profit attributable to parent company | 1.09 | -25.88 | | Net profit attributable to parent company after non-recurring gains/losses | 0.93 | -28.52 | - Revenue from self-produced products (POCT, chemiluminescence, and others) was 446 million yuan[50] - Nearly 480 small chemiluminescence instruments (MAGICL6000+MAGICL6000i) were installed in the first half of the year[50] Chemiluminescence Business Performance | Metric | Amount (hundred million yuan) | YoY Growth (%) | Share of Self-Produced Product Revenue | | :--- | :--- | :--- | :--- | | Chemiluminescence product line revenue | 1.50 | 10.64 | 33.54% | - The company has 104 chemiluminescence detection projects and a cumulative total of 108 domestic chemiluminescence reagent registration certificates[50] - The Metis600 Agile series and Metis7000 fully automatic biochemical immunoassay assembly line continue to be optimized and expanded in the market[52][53] - Molecular POCT products, the GN7000/GN7120 fully automatic nucleic acid amplification analyzers, achieved nearly 60 installations, featuring "fast, easy, and accessible" characteristics[55][56] R&D Investment | Metric | Amount (hundred million yuan) | Percentage of Operating Revenue | | :--- | :--- | :--- | | R&D investment | 0.88 | 17.24% | - As of June 30, 2025, the company had a total of 383 authorized patents, including 57 invention patents[57] - Self-sufficiency rate for key raw materials increased to over 90%, effectively ensuring product quality and reducing production costs[59] Overseas Business Performance | Metric | Amount (hundred million yuan) | YoY Growth (%) | | :--- | :--- | :--- | | Overseas self-produced conventional product revenue | 0.73 | 45.42 | - Overseas markets cover nearly 130 countries, with approximately 2,800 product entry permits[60][61] - The quality management system passed multiple international certifications including ISO13485, MDSAP, and IVDR, undergoing 6 external audits in the first half of the year with a high product pass rate[62] - The digital service platform was upgraded to enable AI work order dispatch, proactive preventive maintenance, and full lifecycle knowledge base enhancement, improving after-sales service efficiency[63] Core Competitiveness Analysis The company's core competitiveness lies in its continuous R&D innovation, particularly in POCT and chemiluminescence, where product performance and market penetration are steadily increasing; it possesses full-产业链 technology reserves and a diversified product matrix, offering comprehensive IVD solutions across all scenarios, while self-developed and self-produced core raw materials provide cost and quality advantages, further enhanced by refined management through an intelligent expense control system - The company continuously increased R&D investment, with the Getein1600 fully automatic fluorescence immunoassay analyzer achieving import substitution in secondary and higher-level medical institutions[65] - Nearly 480 small chemiluminescence instruments (MAGICL6000 and MAGICL6000i) were installed in the first half of the year, achieving high market penetration in secondary and higher-level, and secondary and lower-level hospitals, respectively[65] - The company continues to make breakthroughs in R&D of fully automatic diagnostic instruments and reagents; the SH600 features "centrifugal cap opening, visual recognition, and inverted sampling," while the SH80 online track supports dual-machine combination connections[66] - The company's products cover segmented tracks such as POCT, assembly lines, chemiluminescence, molecular diagnostics, and coagulation, achieving preliminary full-产业链 layout[68] - The molecular diagnostics technology platform reserves key technologies such as nucleic acid extraction, extraction-free direct amplification, multiplex fluorescence quantitative PCR, microfluidics, and rapid nucleic acid detection[68] - The GN7120 fully automatic nucleic acid amplification analyzer achieves integrated rapid "sample-in-result-out" detection, while the Metis600 Agile series assembly line addresses the pain points of complex laboratory equipment and inefficient operations[69] - Leveraging eight technology platforms and four core R&D platforms, the company has built a high-end interdisciplinary translational medicine cooperation system, achieving a leap from traditional single product lines to multi-technology platform integration and fully automatic high-throughput desktop assembly lines[70] - The antibody R&D sector has achieved a completely independent R&D and production system from raw materials to finished products, with an overall antibody self-production rate exceeding 90%[71] - The precision machining center integrates R&D design, prototype trial production, mold development, and mass production capabilities, accelerating the transformation of R&D achievements[72] - An intelligent expense control management system has been deployed to achieve refined and digitalized expense control, promoting cost reduction and efficiency improvement[73] Key Operating Conditions During the Reporting Period During the reporting period, the company experienced declines in both operating revenue and costs, with sales and administrative expenses decreasing due to cost control measures, and financial expenses reducing due to lower interest income and exchange rate fluctuations; net cash flow from operating activities decreased, while net cash outflow from investing activities increased due to higher capital expenditures and wealth management product purchases, and net cash inflow from financing activities rose due to increased borrowings; the asset and liability structure changed, showing significant increases in financial assets held for trading, non-current assets due within one year, and goodwill, alongside growth in accounts payable and short-term borrowings, with the company actively engaging in private equity and derivative investments for hedging against exchange rate risks (I) Main Business Analysis The company's operating revenue and cost of sales decreased year-on-year, primarily due to changes in domestic market demand; sales, administrative, and R&D expenses all declined, reflecting the company's efforts in cost control and R&D project optimization; changes in financial expenses were mainly influenced by interest income and exchange gains/losses; net cash flow from operating activities decreased, while net cash flows from investing and financing activities showed significant changes due to increased investments and borrowings, respectively Analysis of Changes in Financial Statement Items | Item | Current Period (yuan) | Prior Period (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating revenue | 512,692,328.58 | 617,667,779.49 | -17.00 | | Operating cost | 157,113,429.07 | 189,887,885.17 | -17.26 | | Selling expenses | 112,129,453.99 | 145,456,121.66 | -22.91 | | Administrative expenses | 44,398,492.48 | 47,350,933.99 | -6.24 | | Financial expenses | -10,991,753.54 | -15,852,345.12 | - | | R&D expenses | 83,489,962.28 | 92,414,490.91 | -9.66 | | Net cash flow from operating activities | 147,186,036.42 | 163,062,043.97 | -9.74 | | Net cash flow from investing activities | -151,118,994.14 | -81,359,504.26 | - | | Net cash flow from financing activities | 51,788,553.10 | -92,832,035.86 | - | - The decline in operating revenue was primarily due to changes in domestic market demand[75] - The decrease in sales expenses was mainly due to the company's implementation of cost reduction and control measures, leading to lower exhibition and promotion fees, travel expenses, business entertainment expenses, employee compensation, and depreciation expenses[76] - Net cash outflow from investing activities increased, primarily due to higher cash payments for the acquisition of fixed assets and wealth management products[76] - Net cash inflow from financing activities increased, primarily due to higher cash received from company borrowings[76] (III) Analysis of Assets and Liabilities As of the end of the reporting period, the company's total assets amounted to 3,910,125,024.14 yuan, and total liabilities were 1,111,496,262.41 yuan; financial assets held for trading, non-current assets due within one year, and goodwill significantly increased, while accounts payable and short-term borrowings also grew, with overseas assets accounting for 0.38% of total assets Changes in Asset and Liability Status | Item Name | Current Period End (yuan) | Share of Total Assets (%) | Prior Year End (yuan) | Share of Total Assets (%) (Prior Year) | Change from Prior Year End (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Financial assets held for trading | 751,315,145.00 | 19.21 | 648,876,995.18 | 17.50 | 15.79 | | Notes receivable financing | 862,000.00 | 0.02 | 1,490,105.70 | 0.04 | -42.15 | | Prepayments | 12,746,635.15 | 0.33 | 11,038,847.45 | 0.30 | 15.47 | | Non-current assets due within one year | 517,482,635.10 | 13.23 | 230,573,627.60 | 6.22 | 124.43 | | Other current assets | 17,763,821.09 | 0.45 | 12,752,940.15 | 0.34 | 39.29 | | Long-term receivables | 3,094,762.51 | 0.08 | 4,902,566.70 | 0.13 | -36.87 | | Right-of-use assets | 3,116,996.56 | 0.08 | 3,895,601.70 | 0.11 | -19.99 | | Goodwill | 12,016,715.24 | 0.31 | 309,713.69 | 0.01 | 3779.94 | | Long-term deferred expenses | 4,847,180.81 | 0.12 | 6,253,765.32 | 0.17 | -22.49 | | Other non-current assets | 340,023,886.45 | 8.70 | 647,265,079.57 | 17.46 | -47.47 | | Short-term borrowings | 684,164,854.46 | 17.50 | 575,569,384.19 | 15.52 | 18.87 | | Accounts payable | 230,610,532.62 | 5.90 | 145,885,557.51 | 3.94 | 58.08 | | Employee compensation payable | 46,088,744.64 | 1.18 | 67,868,796.57 | 1.83 | -32.09 | | Taxes payable | 18,228,406.04 | 0.47 | 22,333,040.39 | 0.60 | -18.38 | | Non-current liabilities due within one year | 3,623,163.18 | 0.09 | 4,376,217.46 | 0.12 | -17.21 | | Other current liabilities | 7,125,113.40 | 0.18 | 43,774,506.37 | 1.18 | -83.72 | - The increase in financial assets held for trading was primarily due to increased investments in bank wealth management products[78] - The increase in non-current assets due within one year was mainly due to an increase in the amount of long-term large-denomination bank certificates of deposit maturing within one year[79] - The increase in goodwill was primarily due to new business combinations not under common control[79] - The increase in accounts payable was mainly due to an increase in amounts owed to suppliers[79] - Overseas assets amounted to 15,003,637.42 yuan, accounting for 0.38% of total assets[80] Major Restricted Assets at Period End | Item | Book Value at Period End (yuan) | Reason for Restriction | | :--- | :--- | :--- | | Cash and cash equivalents | 955,981.95 | Bank acceptance bill deposits, performance bonds, etc | (IV) Analysis of Investment Status As of the end of the reporting period, the company's long-term equity investments totaled 126.9748 million yuan, a decrease of 1.9669 million yuan from the beginning of the year; the company held financial assets measured at fair value, including financial assets held for trading and other non-current financial assets, totaling 862,576,590.21 yuan at period-end, and also invested in multiple private equity funds and engaged in derivative investments such as forward foreign exchange contracts for hedging against exchange rate fluctuation risks Changes in Financial Assets Measured at Fair Value | Asset Category | Beginning Balance (yuan) | Fair Value Change P&L (yuan) Current Period | Purchases (yuan) Current Period | Sales/Redemptions (yuan) Current Period | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Financial assets held for trading | 648,876,995.18 | 9,934,385.63 | 792,580,000.00 | 700,076,235.81 | 751,315,145.00 | | Other equity instrument investments | 31,000,000.00 | - | - | - | 31,000,000.00 | | Other non-current financial assets | 85,933,123.18 | 1,902,883.40 | - | 7,574,561.37 | 80,261,445.21 | | Total | 765,810,118.36 | 11,837,269.03 | 792,580,000.00 | 707,650,797.18 | 862,576,590.21 | Private Equity Fund Investment Status | Private Equity Fund Name | Investment Agreement Signing Date | Amount Invested as of Period End (yuan) | P&L for Reporting Period (yuan) | | :--- | :--- | :--- | :--- | | Jiangsu Zijin Hongyun Health Industry Investment Partnership (Limited Partnership) | 2019.6.17 | 44,377,449.00 | -542,768.68 | | Jiangsu Gaotou Yida Health Achievement Innovation and Entrepreneurship No. 2 Fund Partnership (Limited Partnership) | 2020.12.30 | 12,047,989.63 | 1,818,850.99 | | Nanjing Jiawo Qixin Venture Capital Partnership (Limited Partnership) | 2021.12.8 | 14,000,000.00 | 626,801.09 | | Nanjing Chuangyi Shijie Zhiyuan Phase I Venture Capital Partnership (Limited Partnership) | 2021.9.1 | 20,000,000.00 | -314,059.43 | | Total | / | 90,425,438.63 | 1,588,823.97 | - The company engaged in forward foreign exchange contracts for hedging purposes, with an actual gain/loss of 1.2021 million yuan during the reporting period[87] - Derivative investments adhere to principles of legality, prudence, and effectiveness, avoiding speculative transactions to mitigate the impact of exchange rate fluctuations on operating performance[87] (VI) Analysis of Major Holding and Participating Companies The company's main subsidiaries, including Beijing Getain, Guangzhou Getain, Hubei Getain, Shandong Getain, Sichuan Getain, and Xinjiang Pomegranate Medical Equipment Co., Ltd., primarily engage in the distribution of testing equipment and reagents; during the reporting period, the company disposed of Huangshi Xingmiao Technology Co., Ltd. and Guangzhou Jimai Health Biotechnology Co., Ltd. through equity transfers, and acquired five companies, including Nanjing Shengxing Pest Control Technology Co., Ltd., through business combinations not under common control, none of which had a significant impact on overall production, operations, or performance Operating Performance of Major Subsidiaries | Company Name | Main Business | Registered Capital (ten thousand yuan) | Total Assets (yuan) | Net Assets (yuan) | Operating Revenue (yuan) | Operating Profit (yuan) | Net Profit (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Beijing Getain | Distribution of testing equipment and reagents | 2000 | 2,047.39 | 654.58 | 2,767.76 | -378.54 | -377.61 | | Guangzhou Getain | Distribution of testing equipment and reagents | 2000 | 1,921.62 | 860.25 | 2,169.50 | 25.48 | 27.74 | | Hubei Getain | Distribution of testing equipment and reagents | 3000 | 7,882.24 | 4,063.42 | 2,211.45 | -73.61 | -85.84 | | Shandong Getain | Distribution of testing equipment and reagents | 1000 | 2,116.10 | 319.57 | 1,681.12 | -251.20 | -238.77 | | Sichuan Getain | Distribution of testing equipment and reagents | 8000 | 8,209.70 | 7,715.77 | 1,539.56 | -108.03 | -114.27 | | Xinjiang Pomegranate Medical Equipment Co., Ltd. | Distribution of testing equipment and reagents | 3000 | 10,449.71 | 4,506.45 | 1,573.46 | -1,588.32 | -1,278.19 | - During the reporting period, the company disposed of Huangshi Xingmiao Technology Co., Ltd. and Guangzhou Jimai Health Biotechnology Co., Ltd. through equity transfers[89] - The company acquired Nanjing Shengxing Pest Control Technology Co., Ltd., Anhui Jiahe Tiancheng Agriculture and Forestry Technology Co., Ltd., Nanchang Xinghui Agriculture and Forestry Technology Co., Ltd., Nanjing Xinglin Biotechnology Co., Ltd., and Xiuning Shengxi Ecological Environmental Protection Co., Ltd. through business combinations not under common control[89] Other Disclosure Matters The company faces risks related to market and competition, policies and regulations, core technology leakage and personnel loss, technology and products, and other factors; intense market competition, dominated by international giants, poses challenges of price wars and domestic substitution for local enterprises; medical insurance cost control and centralized procurement policies demand higher standards for product pricing and market strategies; the stability of the company's core technology and R&D team is crucial, given the long R&D and registration cycles and high investment for new products; additionally, RMB exchange rate fluctuations and distributor management also present operational risks, which the company addresses through continuous R&D investment, market expansion, strengthened quality management, and talent development (I) Potential Risks The company faces multiple risks including intense market competition, changes in policies and regulations, core technology leakage and personnel turnover, technology and product iteration, as well as exchange rate fluctuations and distributor management; the domestic in vitro diagnostics industry is highly competitive with product homogenization, and medical insurance cost control policies intensify price competition; international giants hold significant advantages in technology, brand, and market share, necessitating continuous innovation, market expansion, strengthened risk management, and talent development for the company to address these challenges - The domestic in vitro diagnostics industry faces intense competition and severe product homogenization, with medical insurance cost control policies potentially leading to price wars[90][91] - International giants hold nearly 80% of the global in vitro diagnostics market and dominate China's high-end market[91] - Policy uncertainties may lead to changes in the market environment, requiring the company to promptly adjust its operating strategies to respond to the impact of policies such as medical insurance cost control and centralized procurement[91][92] - Core technology leakage and personnel turnover are significant risks in technology-intensive industries, which the company addresses through patent protection, information security control, and talent incentives[92] - Technology and product risks include long R&D cycles, high investment, and high barriers for new products, as well as the emergence of new technologies potentially causing older products to lose market share[93][94] - Other risks include the impact of RMB exchange rate fluctuations on operating performance and potential adverse effects of poor distributor management on market promotion[94] Corporate Governance, Environment and Society This section outlines the company's proposed profit distribution plan for the reporting period Profit Distribution or Capital Reserve to Share Capital Increase Plan The company's board of directors has approved the 2025 semi-annual profit distribution plan, proposing a cash dividend of RMB 0.9 yuan (tax inclusive) per 10 shares to all shareholders, which does not require submission to the general meeting of shareholders Semi-Annual Profit Distribution Plan | Metric | Value | | :--- | :--- | | Is distribution or capital increase | Yes | | Number of bonus shares per 10 shares (shares) | 0 | | Dividend per 10 shares (yuan) (tax inclusive) | 0.9 | | Number of shares converted from capital reserve per 10 shares (shares) | 0 | - This profit distribution plan was authorized by the 2024 Annual General Meeting of Shareholders for the Board of Directors to decide, and was approved on August 29, 2025[96] Significant Matters This section details the fulfillment of various commitments by the company and its related parties, along with the changes and handling of non-standard audit opinions from the previous annual report Fulfillment of Commitments The company's actual controller, shareholders, related parties, and the company itself have timely and strictly fulfilled all commitments made during or continuing into the reporting period, primarily including avoiding horizontal competition, ensuring the independence of Jingchuan Diagnostics, share lock-up arrangements, and reduction intentions, with ongoing disclosure regarding the progress of Jingchuan Diagnostics' litigation - The acquirer (Getain Bio) committed to avoiding horizontal competition with Jingchuan Diagnostics and ensuring its independence[100][102] - The company's directors, supervisors, and senior management committed to transferring no more than 25% of their total shares annually during their tenure and not transferring shares within six months after resignation[103] - Controlling shareholder and actual controller Su Enben, along with company shareholder Aiji Investment, committed to extending the lock-up period by six months if the share reduction price falls below the offering price within two years after the lock-up period expires[104] - Jingchuan Diagnostics' subsidiary is involved in litigation, with Wuhan Zhongjucheng accusing Getain Bio and Jingchuan Diagnostics of horizontal competition; the first-instance judgment dismissed the plaintiff's claims, and the second-instance trial has commenced[101] Changes and Handling of Non-Standard Audit Opinions from Previous Annual Report The company's 2024 annual report received a qualified opinion due to a dispute between Getain Bio and minority management shareholders of its controlled subsidiary Jingchuan Diagnostics regarding share transfer, resulting in Jingchuan Diagnostics no longer being consolidated into the financial statements from July 1, 2024, and instead accounted for using the equity method; the company's board of directors and management are actively taking measures to mitigate the impact - The company's 2024 annual report received a qualified opinion from Grant Thornton China (Special General Partnership)[108] - The qualified opinion pertains to a share transfer dispute between Getain Bio and minority management shareholders of its controlled subsidiary Jingchuan Diagnostics, leading to Jingchuan Diagnostics no longer being consolidated into the financial statements from July 1, 2024, and instead accounted for using the equity method[108] - The company's board of directors and management are actively taking effective measures to mitigate the impact of the aforementioned matters and are fulfilling information disclosure obligations in a timely manner[109] Share Changes and Shareholder Information This section provides an overview of the company's share capital structure and details of its major shareholders Share Capital Changes During the reporting period, there were no changes in the company's total share capital or share structure - During the reporting period, there were no changes in the company's total share capital or share structure[114] Shareholder Information As of the end of the reporting period, the company had 26,294 common shareholders; among the top ten shareholders, Su Enben held the largest stake at 39.77%, and Su Enben, Su Enkui, and Nanjing Aiji Business Information Consulting Co., Ltd. have an associated relationship Total Common Shareholders as of Period End | Metric | Number (households) | | :--- | :--- | | Common shareholders total | 26,294 | Top Ten Shareholders' Holdings as of Period End | Shareholder Name | Shares Held at Period End | Percentage (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Su Enben | 201,670,295 | 39.77 | Domestic natural person | | Nanjing Aiji Business Information Consulting Co., Ltd. | 17,547,819 | 3.46 | Domestic non-state-owned legal entity | | Xiao Guohua | 7,953,079 | 1.57 | Domestic natural person | | Gao Jian | 6,614,400 | 1.30 | Domestic natural person | | Hong Kong Securities Clearing Company Limited | 5,767,841 | 1.14 | Other | | Huang Guoyu | 4,581,797 | 0.90 | Domestic natural person | | Su Enkui | 4,298,283 | 0.85 | Domestic natural person | | Yan Liyuan | 3,350,000 | 0.66 | Domestic natural person | |百年人寿保险股份有限公司－万能保险产品 | 3,137,718 | 0.62 | Other | | He Qinhui | 2,151,656 | 0.42 | Domestic natural person | - Su Enben, Su Enkui, and Nanjing Aiji Business Information Consulting Co., Ltd. have an associated relationship, with Su Enben being the actual controller of Nanjing Aiji Business Information Consulting Co., Ltd[118] Bond-Related Information This section confirms that the company has no corporate bonds, non-financial enterprise debt financing instruments, or convertible corporate bonds during the reporting period Corporate Bonds and Non-Financial Enterprise Debt Financing Instruments During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments Convertible Corporate Bonds During the reporting period, the company had no convertible corporate bonds Financial Report This section presents the company's unaudited semi-annual financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in equity, along with detailed notes on accounting policies, taxes, financial instrument risks, and related party transactions Audit Report This semi-annual report has not been audited - This semi-annual report has not been audited[5] Financial Statements This section provides the company's 2025 semi-annual consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in equity, comprehensively presenting the company's financial position, operating results, and cash flow situation Key Data from Consolidated Balance Sheet (June 30, 2025) | Item | June 30, 2025 (yuan) | December 31, 2024 (yuan) | | :--- | :--- | :--- | | Cash and cash equivalents | 398,581,042.45 | 351,595,574.28 | | Financial assets held for trading | 751,315,145.00 | 648,876,995.18 | | Accounts receivable | 397,634,033.31 | 355,967,181.77 | | Inventories | 178,853,510.28 | 194,455,652.70 | | Non-current assets due within one year | 517,482,635.10 | 230,573,627.60 | | Total assets | 3,910,125,024.14 | 3,707,374,587.49 | | Short-term borrowings | 684,164,854.46 | 575,569,384.19 | | Accounts payable | 230,610,532.62 | 145,885,557.51 | | Total liabilities | 1,111,496,262.41 | 986,419,351.12 | | Total equity attributable to parent company owners | 2,684,033,328.85 | 2,618,960,854.01 | | Total owners' equity | 2,798,628,761.73 | 2,720,955,236.37 | Key Data from Consolidated Income Statement (Jan-Jun 2025) | Item | 2025 Semi-Annual (yuan) | 2024 Semi-Annual (yuan) | | :--- | :--- | :--- | | Total operating revenue | 512,692,328.58 | 617,667,779.49 | | Total operating cost | 392,555,381.53 | 466,817,209.47 | | Total profit | 110,525,517.41 | 166,182,614.71 | | Net profit | 102,778,791.96 | 150,915,496.18 | | Net profit attributable to parent company shareholders | 108,808,763.23 | 146,808,888.87 | | Basic EPS (yuan/share) | 0.21 | 0.29 | Key Data from Consolidated Cash Flow Statement (Jan-Jun 2025) | Item | 2025 Semi-Annual (yuan) | 2024 Semi-Annual (yuan) | | :--- | :--- | :--- | | Net cash flow from operating activities | 147,186,036.42 | 163,062,043.97 | | Net cash flow from investing activities | -151,118,994.14 | -81,359,504.26 | | Net cash flow from financing activities | 51,788,553.10 | -92,832,035.86 | | Net increase in cash and cash equivalents | 47,358,938.17 | -9,409,473.42 | Company Basic Information This section details the historical evolution of Getain Biotechnology Co., Ltd., including multiple equity transfers, capital increases, and its transformation from a limited liability company to a joint-stock company; the company is registered in Luhe District, Nanjing City, with Su Enben as its legal representative, a registered capital of 507.153517 million yuan, and its main business involves the R&D, production, sales, and service of medical devices; during the reporting period, the scope of consolidation changed, with a net decrease of 3 companies and an increase of 5 companies - The company was established on March 8, 2002, originally named Nanjing Getain Biotechnology Co., Ltd[158] - The company was wholly converted into a joint-stock company on November 3, 2014, and renamed Getain Biotechnology Co., Ltd[165] - The company's registered capital and paid-in capital are 507.153517 million yuan[176] - The company's main business includes the production, operation, and leasing of Class II and Class III medical devices, as well as technical services, R&D, and sales[177] - The scope of consolidation decreased by 3 companies and increased by 5 companies during the reporting period[178] Basis of Financial Statement Preparation The company's financial statements are prepared on a going concern basis, adhering to the Accounting Standards for Business Enterprises issued by the Ministry of Finance, and are based on significant accounting policies and estimates; the company has assessed that there are no significant doubts about its ability to continue as a going concern within 12 months from the end of the reporting period - The company's financial statements are prepared on a going concern basis, adhering to the Accounting Standards for Business Enterprises[179] - The company assessed that there are no significant doubts or matters regarding its ability to continue as a going concern within 12 months from the end of the reporting period[180] Significant Accounting Policies and Estimates This section details the significant accounting policies and estimates followed by the company in the R&D, production, and sales of in vitro diagnostic reagents, covering specific treatment methods and judgment criteria for business combinations, financial instruments, notes receivable, accounts receivable, inventories, long-term equity investments, fixed assets, intangible assets, revenue recognition, government grants, deferred income tax, and leases; the company emphasizes the importance of management's judgments and assumptions in accounting estimates and conducts regular reviews to ensure accuracy - The financial statements prepared by the company comply with the requirements of Accounting Standards for Business Enterprises, accurately and completely reflecting its financial position and operating results[183] - The company's accounting year adopts the calendar year, with 12 months constituting an operating cycle[184][185] - RMB is the functional currency for the company and its domestic subsidiaries, while overseas subsidiaries use USD as their functional currency[186] - The company classifies financial assets into three categories based on business model and contractual cash flow characteristics: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[207] - The company applies simplified measurement methods to accounts receivable, contract assets, etc., measuring loss provisions at an amount equal to the expected credit losses over the entire lifetime[223] - Inventories are valued using the weighted average method upon issuance, the inventory system is perpetual, and low-value consumables and packaging materials are expensed in full upon use[241] - The company recognizes revenue when customers obtain control of the related goods or services, using a buy-out distribution model for product sales[278][282] - Government grants are classified into asset-related and income-related, recognized as deferred income or included in current profit or loss, respectively[283][284] - The company does not recognize right-of-use assets and lease liabilities for short-term leases and leases of low-value assets, with related lease payments expensed to relevant asset costs or current profit or loss[289] Taxes This section discloses the company's main tax categories and rates, including VAT, urban maintenance and construction tax, corporate income tax, and education surcharge; the company and some subsidiaries benefit from high-tech enterprise income tax preferential policies, while other subsidiaries enjoy VAT immediate refund for software products, VAT exemption for medical services, VAT additional deduction for advanced manufacturing enterprises, and small and micro-enterprise income tax preferential policies Main Tax Categories and Rates | Tax Category | Taxable Basis | Tax Rate | | :--- | :--- | :--- | | Value-added tax | Taxable income calculated based on corresponding tax rates, and VAT is levied on the difference after deducting current allowable input tax | 0%, 6%, 9%, 13% | | Urban maintenance and construction tax | Amount of turnover tax payable | 5%, 7% | | Corporate income tax | Taxable income | 15%, 20%, 25%, etc | | Education surcharge | Amount of turnover tax payable | 5% (including local education surcharge of 2%) | - The company and Nanjing Getain Biomedical Co., Ltd., Jilin Getain Biotechnology Co., Ltd., Huangshi Yiyang Medical Testing Co., Ltd., Changchun Blazer Medical Technology Co., Ltd., and Nanjing Shengxing Pest Control Technology Co., Ltd. enjoy a 15% preferential corporate income tax rate for high-tech enterprises[106][107] - Nanjing Getain Information Technology Co., Ltd. enjoys VAT immediate refund policy for software products and the "two-year exemption, three-year half reduction" preferential corporate income tax policy[105][107] - Huangshi Yiyang Medical Testing Co., Ltd. enjoys VAT exemption preferential policy for medical services[106] - The company and some subsidiaries enjoy VAT additional deduction policy for advanced manufacturing enterprises[106] - Some subsidiaries enjoy preferential corporate income tax policies for small and micro enterprises[107] Notes to Consolidated Financial Statement Items This section provides detailed disclosures of the period-end balances, beginning balances, and changes for each item in the consolidated financial statements, including cash and cash equivalents, financial assets held for trading, accounts receivable, inventories, long-term equity investments, fixed assets, intangible assets, goodwill, short-term borrowings, accounts payable, employee compensation payable, taxes payable, deferred income, share capital, capital reserves, retained earnings, operating revenue and costs, selling expenses, administrative expenses, R&D expenses, financial expenses, other income, investment income, fair value change gains, credit impairment losses, asset impairment losses, asset disposal gains, non-operating income and expenses, and income tax expenses; each note offers detailed classification, valuation methods, reasons for changes, and explanations Composition of Cash and Cash Equivalents | Item | Ending Balance (yuan) | Beginning Balance (yuan) | | :--- | :--- | :--- | | Cash on hand | 529,972.67 | 67,843.96 | | Bank deposits | 397,102,226.62 | 350,017,481.24 | | Other cash and cash equivalents | 948,843.16 | 1,510,249.08 | | Total | 398,581,042.45 | 351,595,574.28 | | Of which: Total funds deposited overseas | 14,665,593.94 | 1,510,021.41 | - The total amount of funds deposited overseas at period-end, equivalent to 14,665,593.94 yuan, has no restrictions on repatriation[315] Financial Assets Held for Trading | Item | Ending Balance (yuan) | Beginning Balance (yuan) | | :--- | :--- | :--- | | Wealth management products | 751,315,145.00 | 648,876,995.18 | | Total | 751,315,145.00 | 648,876,995.18 | Aging Analysis of Accounts Receivable | Aging | Ending Book Balance (yuan) | Beginning Book Balance (yuan) | | :--- | :--- | :--- | | Within 1 year | 243,657,098.66 | 205,948,721.95 | | 1 to 2 years | 98,434,417.83 | 97,157,459.43 | | 2 to 3 years | 46,418,603.61 | 31,047,602.42 | | 3 to 5 years | 98,429,239.17 | 96,072,201.06 | | Over 5 years | 30,669,293.11 | 387,365.66 | | Total | 517,608,652.38 | 430,613,350.52 | Allowance for Doubtful Accounts Receivable | Category | Beginning Balance (yuan) | Provision for Current Period (yuan) | Recovered or Reversed (yuan) Current Period | Written Off (yuan) Current Period | Other Changes (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Accounts receivable for which expected credit losses are provided by portfolio | 74,646,168.75 | 25,957,847.27 | 29,739.32 | 120,003.55 | 19,520,345.92 | 119,974,619.07 | Inventory Classification | Item | Ending Book Value (yuan) | Beginning Book Value (yuan) | | :--- | :--- | :--- | | Raw materials | 73,880,490.68 | 91,825,161.06 | | Work in progress | 43,682,503.59 | 45,565,093.24 | | Finished goods | 53,266,801.42 | 50,646,332.71 | | Goods in transit | 7,173,268.91 | 5,537,153.03 | | Consigned processing materials | 850,445.68 | 881,912.66 | | Total | 178,853,510.28 | 194,455,652.70 | Book Value of Fixed Assets | Item | Ending Book Value (yuan) | Beginning Book Value (yuan) | | :--- | :--- | :--- | | Buildings and structures | 225,491,464.88 | 218,727,699.71 | | Machinery and equipment | 131,079,809.65 | 138,362,258.17 | | Transportation vehicles | 2,789,383.44 | 3,864,965.28 | | Electronic equipment | 110,957,791.49 | 112,081,725.25 | | Other equipment | 4,464,155.97 | 5,245,294.01 | | Fixed asset improvements | 158,474.89 | 220,926.13 | | Total | 474,941,080.32 | 478,502,868.55 | Book Value of Intangible Assets | Item | Ending Book Value (yuan) | Beginning Book Value (yuan) | | :--- | :--- | :--- | | Land use rights | 66,029,651.46 | 52,473,655.98 | | Software | 6,284,873.40 | 7,020,659.12 | | Patent rights | 8,500,655.52 | 9,120,404.52 | | Non-patent technology | 68,685,060.71 | 72,932,288.75 | | Total | 149,500,241.09 | 141,547,008.37 | - Intangible assets generated through internal R&D accounted for 51.30% of the total intangible assets balance at the end of the current period[400] Original Book Value of Goodwill | Name of Investee or Event Forming Goodwill | Beginning Balance (yuan) | Increase in Current Period (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | | Changchun Blazer Medical Technology Co., Ltd. | 309,713.69 | - | 309,713.69 | | Nanjing Shengxing Pest Control Technology Co., Ltd. | - | 11,707,001.55 | 11,707,001.55 | | Total | 309,713.69 | 11,707,001.55 | 12,016,715.24 | Operating Revenue and Operating Cost | Item | Current Period - Revenue (yuan) | Current Period - Cost (yuan) | Prior Period - Revenue (yuan) | Prior Period - Cost (yuan) | | :--- | :--- | :--- | :--- | :--- | | Main business | 508,940,507.26 | 156,144,114.45 | 614,108,977.34 | 187,754,293.59 | | Other business | 3,751,821.32 | 969,314.62 | 3,558,802.15 | 2,133,591.58 | | Total | 512,692,328.58 | 157,113,429.07 | 617,667,779.49 | 189,887,885.17 | Operating Revenue and Cost by Operating Region | Contract Classification | Operating Revenue (yuan) | Operating Cost (yuan) | | :--- | :--- | :--- | | Domestic | 439,603,690.91 | 122,615,170.40 | | International | 73,088,637.67 | 34,498,258.67 | | Total | 512,692,328.58 | 157,113,429.07 | R&D Expenses | Item | Current Period (yuan) | Prior Period (yuan) | | :--- | :--- | :--- | | Employee compensation | 59,924,112.86 | 57,084,761.80 | | Material costs | 13,853,811.93 | 24,315,847.67 | | Depreciation and amortization | 4,633,135.91 | 5,394,532.33 | | Other expenses | 5,078,901.58 | 5,619,349.11 | | Total | 83,489,962.28 | 92,414,490.91 | Financial Expenses | Item | Current Period (yuan) | Prior Period (yuan) | | :--- | :--- | :--- | | Interest expense | 6,272,979.72 | 7,909,640.21 | | Less: Interest income | 18,040,727.51 | 21,486,110.61 | | Exchange gains and losses | 548,769.70 | -2,385,453.48 | | Fees and other | 227,224.55 | 109,578.76 | | Total | -10,991,753.54 | -15,852,345.12 | Gains from Changes in Fair Value | Source of Fair Value Change Gains | Current Period (yuan) | Prior Period (yuan) | | :--- | :--- | :--- | | Financial assets held for trading | 13,821,248.88 | 7,342,823.42 | | Other non-current financial assets | 1,902,883.40 | -2,273,569.30 | | Financial liabilities held for trading | -2,374.00 | -46,584.36 | | Total | 15,721,758.28 | 5,022,669.76 | R&D Expenses This section discloses the classification of the company's R&D expenses by nature, including employee compensation, material costs, depreciation and amortization, and other expenses; during the reporting period, total R&D expenditure was 88,395,835.96 yuan, with 83,489,962.28 yuan expensed and 4,905,873.68 yuan capitalized, primarily for several internal development projects, resulting in an ending balance of 53,718,479.25 yuan for capitalized R&D projects R&D Expenses by Nature | Item | Current Period (yuan) | Prior Period (yuan) | | :--- | :--- | :--- | | Employee compensation | 59,936,909.04 | 64,099,743.24 | | Material costs | 16,401,035.70 | 25,906,563.23 | | Depreciation and amortization | 4,742,941.38 | 5,477,247.19 | | Other expenses | 7,314,949.84 | 6,142,706.04 | | Total | 88,395,835.96 | 101,626,259.70 | | Of which: Expensed R&D expenditure | 83,489,962.28 | 92,414,490.91 | | Capitalized R&D expenditure | 4,905,873.68 | 9,211,768.79 | Development Expenditures for R&D Projects Meeting Capitalization Criteria | Item | Beginning Balance (yuan) | Increase in Current Period (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | | Project 1 | 16,194,109.30 | 721,687.90 | 16,915,797.20 | | Project 2 | 13,840,651.01 | 82,322.77 | 13,922,973.78 | | Project 3 | 10,833,428.92 | 533,412.06 | 11,366,840.98 | | Project 4 | 1,017,833.44 | 263,308.77 | 1,281,142.21 | | Project 5 | 785,823.62 | 368,775.08 | 1,154,598.70 | | Project 6 | 3,876,931.70 | 1,550,615.83 | 5,427,547.53 | | Project 7 | 1,348,459.25 | 438,107.91 | 1,786,567.16 | | Project 8 | 915,368.33 | 947,643.36 | 1,863,011.69 | | Total | 48,812,605.57 | 4,905,873.68 | 53,718,479.25 | Changes in Consolidation Scope During the reporting period, the company's scope of consolidation changed; through a business combination not under common control, the company subscribed for new shares of Nanjing Shengxing Pest Control Technology Co., Ltd. with 42,272,185.58 yuan in cash, acquiring a 53.00% stake and obtaining control on April 14, 2025; additionally, the company disposed of Huangshi Xingmiao Technology Co., Ltd. and Guangzhou Jimai Health Biotechnology Co., Ltd. through equity transfers and deregistered Zhengzhou Getain Medical Testing Co., Ltd - The company subscribed for new shares of Nanjing Shengxing Pest Control Technology Co., Ltd. with 42,272,185.58 yuan in cash, acquiring a 53.00% stake and obtaining control on April 14, 2025[510][513] - The merger of Nanjing Shengxing Pest Control Technology Co., Ltd. resulted in goodwill of 11,707,001.55 yuan[514] - The company disposed of Huangshi Xingmiao Technology Co., Ltd. and Guangzhou Jimai Health Biotechnology Co., Ltd. through equity transfers, losing control[518] - The company deregistered Zhengzhou Getain Medical Testing Co., Ltd[519] Interests in Other Entities This section discloses the company's interests in subsidiaries, joint ventures, and associates; the company owns multiple wholly-owned or controlled subsidiaries primarily engaged in R&D, production, and sales; for associates, the company accounts for Wuhan Dias Technology Co., Ltd., Nanjing Chuangyi Shijie Zhiyuan Phase I Venture Capital Partnership (Limited Partnership), and Nanjing Yimao Information Technology Co., Ltd. using the equity method; effective July 1, 2024, Wuhan Jingchuan Diagnostics Technology Co., Ltd. was reclassified to be accounted for using the equity method - The company owns Nanjing Getain Biomedical Co., Ltd., Jiangsu Getain Biomedical Co., Ltd., Shandong Getain Medical Devices Co., Ltd. and other wholly-owned subsidiaries[520][521][522] - The company holds controlling interests in subsidiaries such as Jilin Getain Biotechnology Co., Ltd., Changchun Blazer Medical Technology Co., Ltd., Xinjiang Pomegranate Medical Equipment Co., Ltd., Huangshi Yiyang Medical Testing Co., Ltd., and Nanjing Shengxing Pest Control Technology Co., Ltd[520][521][522] - The company accounts for Wuhan Dias Technology Co., Ltd., Nanjing Chuangyi Shijie Zhiyuan Phase I Venture Capital Partnership (Limited Partnership), and Nanjing Yimao Information Technology Co., Ltd. using the equity method[527] - Effective July 1, 2024, the company reclassified Wuhan Jingchuan Diagnostics Technology Co., Ltd. to be accounted for using the equity method[527] Summarized Financial Information of Insignificant Joint Ventures and Associates | Item | Ending Balance/Current Period Amount (yuan) | Beginning Balance/Prior Period Amount (yuan) | | :--- | :--- | :--- | | Associates: Total book value of investments | 126,974,752.35 | 128,941,666.64 | | --Net profit | -1,966,914.29 | -719,492.34 | | --Total comprehensive income | -1,966,914.29 | -719,492.34 | Government Grants This section discloses the company's government grant-related liability items and government grants recognized in current profit or loss; the ending balance of government grants in deferred income was 17,038,050.32 yuan, while total government grants recognized in current profit or loss for the period amounted to 2,648,462.98 yuan, comprising 1,258,898.54 yuan related to assets and 1,389,564.44 yuan related to income Liability Items Involving Government Grants | Financial Statement Item | Beginning Balance (yuan) | Recognized in Non-Operating Income (yuan) Current Period | Transferred to Other Income (yuan) Current Period | Ending Balance (yuan) | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | :--- | | Deferred income | 18,296,948.86 | - | 1,258,898.54 | 17,038,050.32 | Asset-related | Government Grants Recognized in Current Profit or Loss | Type | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Asset-related | 1,258,898.54 | 1,292,231.88 | | Income-related | 1,389,564.44 | 16,089,482.84 | | Total | 2,648,462.98 | 17,381,714.72 | Risks Related to Financial Instruments The company faces credit risk, market risk (including exchange rate risk and interest rate risk), and liquidity risk in its operations; the board of directors