Financial Performance - Net profit attributable to shareholders for Q1 2024 was CNY 35,454,180.52, reflecting a growth of 10.45% year-on-year[12] - Operating revenue for the first quarter of 2024 was CNY 209,789,353.15, representing a 14.28% increase from the same period last year[12] - The company's cash flow from operating activities decreased by 17.15% to CNY 13,994,406.42 compared to the previous year[12] - Total operating revenue for Q1 2024 reached ¥209,789,353.15, an increase of 14.3% compared to ¥183,580,539.38 in Q1 2023[94] - Net profit for Q1 2024 was ¥35,454,180.52, representing a 10.8% increase from ¥32,098,671.81 in Q1 2023[95] - Total comprehensive income for Q1 2024 was ¥37.53 million, compared to ¥32.19 million in Q1 2023, reflecting a growth of 16.5%[98] Assets and Liabilities - Total assets as of March 31, 2024, reached CNY 1,175,332,230.27, an increase of 1.83% compared to the end of 2023[12] - The asset-liability ratio for the consolidated entity improved to 16.24%, down from 17.83% at the end of 2023[12] - Total liabilities decreased to ¥190,845,015.36 from ¥205,806,841.21, reflecting a reduction of about 7.3%[90] - Current assets totaled ¥800,465,342.46 as of March 31, 2024, an increase from ¥785,387,461.84 on December 31, 2023, representing a growth of approximately 1.38%[88] - Total assets reached ¥1,175,332,230.27, up from ¥1,154,156,478.60, showing an increase of approximately 1.83%[90] Research and Development - Research and development expenses increased by 72.96% to CNY 28,327,072.10, primarily due to increased costs associated with innovative drug development[14] - Research and development expenses increased significantly to ¥28,327,072.10 in Q1 2024, compared to ¥16,377,476.77 in Q1 2023, reflecting a growth of 73.2%[94] - The company emphasizes the importance of R&D investment and market expansion to enhance competitive and sustainable profitability[67] - The company has a strong self-research team and will continue to enhance core technologies and patents[67] Shareholder Information - The number of ordinary shareholders as of the report date was 3,743, with total shares outstanding at 78,245,040[18] - The company has a total of 47,241,736 shares held by shareholders with more than 5% ownership, representing 60.37% of total shares[21] - Li Yong'an, Chen Xue-min, Xu Gen-hua, Fan Shi-zhong, and He Jian-zhong collectively hold 30.77% of the company's shares, making them the controlling shareholders[22] - The major shareholder, Li Yong'an, pledged not to reduce his shareholding in the company for one year starting from September 1, 2023[40] Cash Flow and Investments - Cash flow from operating activities for Q1 2024 was ¥13.99 million, down 17.4% from ¥16.89 million in Q1 2023[99] - The company reported a net cash inflow from investment activities of ¥62.53 million in Q1 2024, a recovery from a net outflow of ¥47.42 million in Q1 2023[100] - Cash flow from financing activities resulted in a net outflow of $197,609.03, compared to a net outflow of $402,375.00 in the previous period[103] - The company maintained a strong cash position with a year-end cash balance significantly higher than the previous year[103] Commitments and Compliance - The company commits to a cash dividend distribution of at least 20% of the distributable profit for any single year, with a cumulative cash distribution of no less than 60% of the average annual distributable profit over the last three years[49] - The company will ensure compliance with relevant laws and regulations regarding shareholding and share changes, and will timely disclose any changes in shareholdings[54] - The company has committed to avoid and reduce related party transactions, ensuring that any unavoidable transactions will adhere to market principles and fair pricing[81] - The company will actively accept social supervision regarding its commitments and responsibilities[58] Financial Management - The company’s financial reports are not audited, which may impact the reliability of the financial data presented[87] - The company confirms that its issuance application documents are free from false records or misleading statements, taking legal responsibility for their accuracy[72] - In case of any losses due to false statements in the issuance documents, the company will compensate investors and establish a compensation fund[74] - The company will actively communicate and compensate investors for measurable direct economic losses caused by any identified violations[75]
德源药业(832735) - 2024 Q1 - 季度财报