Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching RMB 500 million, representing a 20% year-over-year growth[25]. - The company's operating revenue for the reporting period was ¥1,294,834,087.52, a decrease of 6.00% compared to the previous year's adjusted revenue of ¥1,221,522,418.99[35]. - Net profit attributable to shareholders was ¥197,715,295.72, representing an increase of 22.72% from the previous year's net profit of ¥161,112,708.06[35]. - The net cash flow from operating activities reached ¥996,439,906.80, showing a significant increase of 312.97% compared to the previous year's cash flow of ¥241,287,085.73[35]. - Basic earnings per share rose to ¥0.46, up 21.05% from ¥0.38 in the same period last year[35]. - The company achieved total operating revenue of ¥1,294,834,087.52, a year-on-year increase of 6.00%[72]. - The operating profit reached ¥243,429,511.13, reflecting a growth of 21.71% compared to the previous year[72]. - The blood products business generated total revenue of ¥592,149,251.96, a year-on-year growth of 26.39%, accounting for 45.73% of total revenue[72]. - The net profit from the blood products business was ¥161,400,559.30, up 50.51% year-on-year, representing 81.63% of the net profit attributable to shareholders[72]. Research and Development - The company plans to invest RMB 100 million in research and development for innovative blood products in the next fiscal year[25]. - The company is focused on enhancing its R&D capabilities through partnerships with universities and research institutions, aiming for innovation in product development[62]. - The company is committed to enhancing R&D investment to accelerate the development of coagulation factor products and increase its product variety[153]. - Research and development investment increased by 45.62% to ¥61,184,670.92 from ¥42,015,753.49, indicating a significant focus on innovation[102]. - The company is advancing its R&D pipeline, with key products including human coagulation factor VIII and high-concentration (10%) intravenous immunoglobulin, with clinical trial applications approved[78]. Market Expansion and Strategy - The company has set a target to expand its production capacity by 30% over the next two years to meet increasing market demand[25]. - Market expansion efforts include entering two new provinces, which are projected to increase revenue by an additional RMB 50 million annually[25]. - The company is exploring strategic acquisitions to enhance its product portfolio, with a focus on companies that specialize in rare blood disorders[25]. - The company aims to expand its market presence through new product development and strategic acquisitions in the biopharmaceutical sector[96]. - The company plans to continue integrating industry resources and expanding rapidly to achieve its strategic goals[95]. Quality Management - The management highlighted the importance of maintaining high-quality standards, with a commitment to reducing product quality issues by 25% through improved quality control measures[25]. - The company has established a comprehensive quality management system to control product quality risks, which are critical for maintaining brand reputation[154]. - The company has a strong commitment to quality management, having been one of the first to pass the new GMP certification in China, ensuring high product safety and quality[93]. Production and Supply Chain - The company operates 13 plasma collection stations, all licensed by provincial health authorities, ensuring a stable supply of raw plasma[63]. - The company collected approximately 192 tons of raw plasma in the first half of 2021, a 25.68% increase compared to the same period last year[76]. - The company is facing a risk of insufficient raw material supply for blood products due to tight industry supply, and plans to expand plasma collection stations to mitigate this risk[149]. - The company has the qualification to establish new plasma collection stations and aims to increase the number of stations quickly, despite facing regulatory uncertainties[150]. Environmental Compliance - The company reported a total of 1.8764 tons of COD emissions, which is below the regulatory limit of 3.6286 tons[166]. - The company also reported 0.0731 tons of ammonia nitrogen emissions, well within the limit of 0.3299 tons[166]. - The company has implemented measures to ensure compliance with pollution discharge standards, with no exceedances reported[166]. - The company has established self-monitoring plans that include both automatic and manual monitoring methods to ensure compliance with environmental standards[184]. - The company has received environmental impact assessment approvals for various construction projects, including a 300-ton chemical raw material drug expansion project[182]. Corporate Governance and Shareholder Relations - The company has established a sound corporate governance structure and continuously improves the quality of information disclosure to protect shareholders' rights[198]. - The company held its first extraordinary general meeting of shareholders in 2021 with a participation rate of 42.71% on February 3, 2021[158]. - The company held its annual general meeting on May 17, 2021, with a participation rate of 42.36%[158]. - The company has undergone a board restructuring, with several new appointments made on February 4, 2021[162]. Employee Welfare and Community Engagement - The company emphasizes employee welfare, providing regular health checks and improving the working environment[199]. - The company maintains good relationships with suppliers and customers, adhering to principles of equality, mutual benefit, and win-win cooperation[200].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2018, representing a year-on-year increase of 15%[36] - The net profit attributable to shareholders was RMB 200 million, with a profit margin of 16.67%[36] - The company's operating revenue for 2018 was approximately ¥2.39 billion, representing a 71.72% increase compared to ¥1.39 billion in 2017[42] - The net profit attributable to shareholders for 2018 was approximately ¥469.17 million, an increase of 31.57% from ¥356.59 million in 2017[42] - The net cash flow from operating activities improved significantly to approximately ¥34.90 million, a 246.55% increase from a negative cash flow of ¥23.82 million in 2017[42] - The basic earnings per share for 2018 was ¥1.11, up 24.72% from ¥0.89 in 2017[45] - The total assets as of the end of 2018 reached approximately ¥5.07 billion, a 38.25% increase from ¥3.67 billion at the end of 2017[45] - The net assets attributable to shareholders increased by 52.72% to approximately ¥3.70 billion from ¥2.43 billion in 2017[45] - The company reported a diluted earnings per share of ¥1.11 for 2018, reflecting a 24.72% increase from ¥0.89 in 2017[45] - The company received government subsidies amounting to approximately ¥15.68 million in 2018, compared to ¥12.49 million in 2017[53] Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.50 per 10 shares, totaling RMB 64.99 million based on the total share capital at the end of 2018[13] - The company has repurchased 7,026,300 shares, reducing the total share capital to 426,298,563 shares[13] - The company plans to continue its share repurchase program based on actual conditions, primarily for employee stock ownership plans or equity incentive plans[108] Market and Product Development - The company is focused on expanding its market presence and developing new products, although the approval process for new products can be lengthy and uncertain[9] - The company acknowledges the risk of not obtaining necessary product registration certificates, which could delay new product launches[9] - The company aims to establish itself as a "world-class blood product enterprise" and a benchmark in the pharmaceutical industry, focusing on high-quality medical products and services[72] - The company has expanded its product offerings to include diabetes medications, orthopedic drugs, and high-end anti-infection drugs, leveraging its competitive advantages in related fields[72] - The company has improved its marketing capabilities, resulting in an effective increase in market share for its main products[71] - The company operates in the blood product industry, with major products including albumin, immunoglobulin, and coagulation factors[62] - The company is one of the few in China with a complete range of blood products, including the most comprehensive specifications for albumin and intravenous immunoglobulin[63] - The company has a strong presence in the diabetes medication market through its subsidiary Tianan Pharmaceutical, which produces multiple diabetes products[66] - The company is a key distributor of blood products in Guangdong Province, a major market for blood products in China[68] Risks and Challenges - The company has identified risks related to the tight supply of raw materials, which could impact production capacity in the blood products sector[7] - The company is undergoing a goodwill impairment test due to acquisitions, which could negatively affect its financial performance if the acquired companies underperform[11] - The company is one of the few with the qualification to establish new plasma collection stations, but faces significant uncertainties due to national policies[8] - The company emphasizes the importance of product quality control, as any issues could lead to production halts and regulatory scrutiny[10] Research and Development - The company is actively advancing the research and development of blood products, including coagulation factor projects and immunoglobulin products[95] - The company has established a unique collaboration with Wytold Richard Lebing for blood product R&D, focusing on strategic planning and process optimization[98] - The company has successfully completed the consistency evaluation for Metformin Hydrochloride tablets (0.25g) and is progressing with other generic drug evaluations[99] - The company has withdrawn the registration application for Human Coagulation Factor VIII to improve clinical trial data before resubmission[97] - The company has established a new R&D center in Beijing to enhance its capabilities in developing specific immunoglobulin products and other blood products[186] Investments and Acquisitions - The company plans to raise up to ¥1 billion through a private placement of shares to fund the construction of a "thousand-ton blood product intelligent factory" project[104] - The company has completed the acquisition of a 27.77% stake in Wang Minyu Tian'an Pharmaceutical for RMB 14,757.63 million, with a cumulative investment of RMB 14,757.63 million[181] - The company has acquired 82% of Guangdong Fuda Pharmaceutical Co., Ltd. in November 2017, increasing its stake to 75% after a capital increase in January 2018[135] - The company purchased minority interests in several plasma stations for a total of 60 million yuan, resulting in 100% ownership of those stations[136] - The company increased its stake in Tianan Pharmaceutical to 89.6810% by acquiring an additional 6.325% for 34.815060 million yuan[137] Operational Efficiency - The company has optimized production processes to enhance production efficiency while ensuring product quality[71] - The sales volume of blood products increased by 33.21% to 2,458,766 bottles compared to the previous year[127] - The production volume of blood products rose by 30.24% to 2,624,581 bottles year-on-year[127] - The revenue from direct materials in the blood products business was 222,673,317.61 yuan, accounting for 83.82% of the total operating costs[132] Regulatory Environment - The blood products industry is experiencing increased regulatory scrutiny and consolidation, with global market share dominated by top companies like CSL and Grifols, which account for over 80%[199] - China's blood products industry has seen a reduction in operational companies to fewer than 30, with a trend towards increased concentration[200]

Financial Performance - The company's operating revenue for 2020 was ¥2,513,038,687.41, a decrease of 8.98% compared to ¥2,760,925,046.07 in 2019[32]. - The net profit attributable to shareholders for 2020 was ¥260,060,146.52, down 38.97% from ¥426,146,775.92 in 2019[32]. - The net profit after deducting non-recurring gains and losses was ¥248,721,937.76, a decrease of 39.16% compared to ¥408,795,458.34 in 2019[32]. - The basic earnings per share for 2020 was ¥0.61, down 39.00% from ¥1.00 in 2019[32]. - The total assets as of the end of 2020 were ¥5,158,535,284.56, a decrease of 1.87% from ¥5,256,690,601.18 at the end of 2019[32]. - The net assets attributable to shareholders increased by 5.01% to ¥4,107,903,650.55 from ¥3,911,734,528.48 at the end of 2019[32]. - The company reported a significant increase in net cash flow from operating activities, amounting to ¥718,583,048.24, compared to a negative cash flow of ¥114,512,591.73 in 2019[32]. - The company experienced a decline in the weighted average return on equity, which was 6.49% in 2020, down 4.89 percentage points from 11.38% in 2019[32]. - The total revenue for the year was approximately ¥2.51 billion, a decrease of 8.98% compared to the previous year[60]. - The net profit attributable to shareholders was approximately ¥260 million, down 38.97% year-on-year[60]. Market Position and Product Development - The company is focused on expanding its market presence and developing new products in the blood products sector[12]. - The company has a strong market position in blood products, which are considered strategic resources in China[47]. - The company’s main products include human albumin, immunoglobulin, and coagulation factors, with a total of 22 specifications[47]. - The company’s diabetes medication segment includes multiple products such as Glimepiride tablets and Metformin enteric-coated tablets, targeting Type 2 diabetes patients[52]. - The company has established a comprehensive product line in the diabetes medication market, covering four major categories of oral medications[52]. - The company aims to become a world-class blood product enterprise and a benchmark in the pharmaceutical industry[61]. - The company plans to accelerate the market development of new products such as PCC (Prothrombin Complex Concentrate) while enhancing academic and brand building in the blood products sector[193]. Risks and Challenges - The company faces a significant risk of raw material supply shortages due to the tight supply of healthy human plasma, which directly impacts production capacity[7]. - The company has a risk of not obtaining product registration certificates for new products, which could delay their market launch[9]. - The company acknowledges the risks associated with future plans and projections, urging investors to maintain awareness of potential uncertainties[6]. - The company recognizes the risk of delays in obtaining product registration certificates for new products, which could impact the launch of new offerings[197]. - There is a risk of goodwill impairment due to the acquisition of Tianan Pharmaceutical, Xinbai Pharmaceutical, and Fuda Pharmaceutical, which could negatively impact the company's financial performance if their future operations deteriorate[198]. Operational Efficiency and Management - The company emphasizes the importance of product quality control, as any issues could lead to production halts and reputational damage[10]. - The company has established a comprehensive quality management system to mitigate product quality risks, ensuring compliance with legal regulations and continuous improvement[198]. - The company has a stable management team with extensive experience in the blood product industry, enhancing its operational efficiency[72]. - The company signed a management framework agreement to oversee the daily operations of its subsidiary, ensuring better management of production and operations[97]. Investments and Acquisitions - The company has completed the acquisition of a 32% stake in Haikang Bio for RMB 3,594.45 million, achieving 100% of the planned investment[160]. - The company has invested RMB 2,872.83 million in the production of blood products, achieving only 2.90% of the planned investment[157]. - The company has committed RMB 24,261.37 million to supplement working capital, achieving 100% of the planned investment[157]. - The company has established a new subsidiary, Tunchang Boya Plasma Co., Ltd., with a registered capital of ¥10 million, of which the company subscribed ¥8 million, holding an 80% stake[116]. Plasma Collection and Supply - The company achieved a plasma collection volume of approximately 378 tons in 2020, representing a year-on-year growth of 1.61%, while the overall industry saw a decline of about 9%[47]. - The company operates 13 plasma collection stations, having recently received approval for a new station in Tunchang[47]. - The company plans to enhance raw plasma supply capabilities by optimizing existing collection stations and actively applying for new ones, with a focus on lean management to stabilize product yield and quality[193]. - The company is committed to increasing the number of plasma collection stations through acquisitions to ensure a stable supply of raw plasma[194]. Research and Development - The company has developed a biochemical drug research center and production base, focusing on peptide drugs and other therapeutic areas[53]. - The number of R&D personnel increased to 204, representing 12.61% of the total workforce[121]. - Research and development expenses amounted to ¥126,112,303.02, which is 5.02% of the operating revenue[121]. Regulatory and Compliance - The company is awaiting regulatory approvals for the share issuance to China Resources Pharmaceutical Group, which involves certain uncertainties[95]. - The company does not classify any non-recurring gains and losses as recurring, adhering to the relevant disclosure guidelines[42].

Financial Performance - The company's operating revenue for 2019 was ¥2,760,925,046.07, representing a 15.64% increase from ¥2,387,519,494.86 in 2018[27]. - The net profit attributable to shareholders for 2019 was ¥426,146,775.92, a decrease of 9.17% compared to ¥469,174,808.30 in 2018[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥408,795,458.34, down 7.87% from ¥443,721,904.02 in 2018[27]. - The company's total assets as of December 31, 2019, were ¥5,256,690,601.18, reflecting a 3.62% increase from ¥5,073,150,178.05 at the end of 2018[27]. - The basic earnings per share for 2019 was ¥1.00, a decrease of 9.91% from ¥1.11 in 2018[27]. - The weighted average return on equity for 2019 was 11.38%, down 3.06 percentage points from 14.44% in 2018[27]. - The net cash flow from operating activities for 2019 was -¥114,512,591.73, a significant decline of 428.09% compared to ¥34,902,726.47 in 2018[27]. - The total non-recurring gains and losses for 2019 amounted to ¥17,351,317.58, compared to ¥25,452,904.28 in 2018[34]. - The company achieved total operating revenue of ¥2,760,925,046.07, a year-on-year increase of 15.64%[68]. - The company's net profit attributable to shareholders was ¥426,146,775.92, a decrease of 9.17% compared to the previous year[68]. Dividend Distribution - The company reported a cash dividend of 1.50 RMB per 10 shares, totaling 63,891,024.45 RMB distributed to shareholders[7]. - The cash dividend for 2018 was 64,998,729.45 yuan, accounting for 13.85% of the net profit attributable to ordinary shareholders[195]. - The company did not issue any bonus shares or increase capital from reserves during the 2019 profit distribution[190]. - The total cash dividend for 2019, including other methods, was 217,964,190.91 yuan, which is 51.15% of the net profit attributable to ordinary shareholders[195]. Business Operations and Strategy - The company aims to establish itself as a "world-class blood product enterprise" and a benchmark in the pharmaceutical industry, focusing on high-quality medical products and services[55]. - The company is actively expanding its diabetes medication business, with products like Glimepiride tablets and Metformin enteric-coated tablets among its offerings[49]. - The company is focusing on the development of high-end anti-infection drugs and expanding its product offerings in orthopedics and gastrointestinal areas[55]. - The company is committed to optimizing production processes to improve efficiency while ensuring product quality[54]. - The company is continuously advancing various projects to lay a solid foundation for future growth and development[54]. - The company aims to strengthen its blood product business by focusing on professional, large-scale, and international development strategies[173]. - The company plans to actively apply for the establishment of new plasma collection stations, leveraging its qualification as one of the few enterprises eligible for new station setups[179]. Market and Competitive Landscape - The blood products industry is experiencing consolidation, with the number of global blood product companies decreasing from 102 to less than 20, indicating a high market concentration[166]. - The pharmaceutical industry, which the company is expanding into, is supported by national policies and is expected to maintain high growth rates, although competition is intensifying[180]. Risks and Challenges - The company faces a significant risk of raw material supply shortages due to increased regulatory scrutiny and tight supply of human plasma, which directly impacts production capacity[5]. - The company has a risk of goodwill impairment due to the acquisition of Tianan Pharmaceutical, Xinbai Pharmaceutical, and Fuda Pharmaceutical, which could negatively affect financial performance if their operations deteriorate[6]. - The company faces risks related to raw material supply, as the availability of healthy human plasma is currently tight due to regulatory constraints[176]. - To mitigate supply risks, the company will enhance existing plasma collection capabilities and actively seek to establish new collection stations[178]. Research and Development - The company has established a new R&D center in Beijing to enhance its capabilities in developing specific immunoglobulin products and other blood products[158]. - The company will increase R&D investment and enhance collaboration with research institutions and enterprises to improve innovation capabilities and diversify its product line[174]. - The company’s R&D expenses increased significantly, impacting net profit due to enhanced product line development and marketing investments[68]. - The number of R&D personnel increased to 196 in 2019, representing 12.17% of the total workforce[110]. Financial Management and Investments - The company reported a significant increase in prepaid expenses by 157.89%, mainly due to advance payments for raw plasma[56]. - Short-term borrowings increased by 170.35%, primarily due to an increase in short-term bank loans[56]. - The company applied for a total of RMB 400 million in merger loans and other medium to long-term loans, primarily for the acquisition of Guangdong Fuda Pharmaceutical Co., Ltd. and other projects[132]. - The company has pledged all its shares in Guangdong Fuda Pharmaceutical to secure a loan of RMB 130 million from the Industrial and Commercial Bank of China[132]. - The company plans to use up to RMB 90 million of idle raised funds to temporarily supplement working capital, with a repayment period not exceeding 12 months[156]. Shareholder and Management Commitments - The controlling shareholder, Shenzhen Gaotejia Investment Group, committed to not transferring or entrusting the management of shares for 60 months post-IPO[196]. - Other shareholders, including Jiangxi Xinxing Biotechnology Development Co., pledged not to transfer or manage their shares for 36 months post-IPO[196]. - The controlling shareholder agreed to compensate Boya for any losses incurred due to non-fulfillment of commitments[200].

Financial Performance - The company's operating revenue for Q1 2021 was ¥624,118,627.05, representing a 2.38% increase compared to ¥609,594,359.83 in the same period last year[8]. - Net profit attributable to shareholders for Q1 2021 was ¥100,736,164.66, up 5.04% from ¥95,900,464.56 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was ¥98,876,255.69, reflecting a 12.38% increase from ¥87,981,685.60 in the previous year[8]. - Basic and diluted earnings per share for Q1 2021 were both ¥0.24, a 4.35% increase from ¥0.23 in the previous year[8]. - Operating profit reached ¥122,974,479.86, reflecting a growth of 5.96% compared to the same period last year[28]. - The blood products business generated total operating revenue of ¥283,471,117.56, a year-on-year increase of 17.10%[28]. - The net profit from the blood products business was ¥84,430,633.20, representing a growth of 43.19% year-over-year[28]. - Net profit for the current period was ¥103,957,040.08, compared to ¥99,887,304.66 in the previous period, reflecting a growth of approximately 2.1%[79]. - Total operating revenue for the current period reached ¥624,118,627.05, an increase from ¥609,594,359.83 in the previous period[74]. Cash Flow and Assets - The net cash flow from operating activities increased significantly by 127.42%, reaching ¥159,306,575.70 compared to ¥70,048,130.64 in the same quarter last year[8]. - As of March 31, 2021, the company's cash and cash equivalents amounted to 668,822,235.13 RMB, a decrease from 753,894,253.78 RMB at the end of 2020[56]. - The total current assets decreased to 2,760,475,116.63 RMB from 2,927,663,474.49 RMB at the end of 2020[56]. - The company's total liabilities decreased from ¥966,078,096.11 to ¥708,746,713.24, a decrease of about 26.5%[62]. - Total assets at the end of the reporting period were ¥5,005,101,156.91, down 2.97% from ¥5,158,535,284.56 at the end of the previous year[8]. - Cash and cash equivalents decreased from ¥645,846,795.60 to ¥386,343,704.73, a drop of about 40%[66]. - The ending cash and cash equivalents balance decreased to 386,343,704.73 CNY from 457,940,294.04 CNY, a decline of 15.5%[97]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,886[11]. - The largest shareholder, Shenzhen Gaotejia Investment Group Co., Ltd., held 29.17% of the shares, amounting to 126,381,618 shares[12]. - Net assets attributable to shareholders increased by 2.45% to ¥4,208,580,030.35 from ¥4,107,903,650.55 at the end of the previous year[8]. Regulatory and Management Changes - The company has undergone a change in its board of directors and management team, with new appointments made on February 4, 2021[37]. - The company is subject to regulatory measures due to previous financial misconduct, and corrective actions have been taken[34]. - The company received a notice from the Shenzhen Stock Exchange regarding the suspension of the review for the issuance of A-shares to specific targets[33]. - The company is awaiting approval from relevant authorities for the issuance of shares related to the change in controlling shareholder[33]. Research and Development - R&D expenses decreased by 54.86% to ¥8,165,544.65 compared to the previous year[25]. - Research and development expenses decreased significantly to ¥2,611,824.06, down 76.3% from ¥11,043,867.32 in the prior period[83]. Financial Management - The company has fully recovered the funds related to the procurement of raw plasma, resolving previous financial occupation issues[33]. - The company has utilized 90,000.00 million RMB of idle raised funds to temporarily supplement working capital, which has been fully returned to the designated account[47]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[51]. - The company has not reported any violations regarding external guarantees during the reporting period[48]. Investment and Procurement - The top five suppliers accounted for 51.41% of the total annual procurement amount, with the largest supplier contributing CNY 79.476 million, representing 40.35%[32]. - The top five customers contributed 10.84% of the total annual sales, with the largest customer accounting for CNY 17.435 million, or 2.79%[32].

Financial Performance - The company's operating revenue for 2020 was ¥2,683,754,348.35, a decrease of 7.74% compared to ¥2,908,769,255.35 in 2019[32]. - The net profit attributable to shareholders for 2020 was ¥260,060,146.52, down 38.97% from ¥426,146,775.92 in 2019[32]. - The net cash flow from operating activities was negative ¥114,512,591.73, a significant increase of 727.51% compared to ¥718,583,048.24 in 2019[32]. - Basic and diluted earnings per share for 2020 were both ¥0.61, a decrease of 39.00% from ¥1.00 in 2019[32]. - The total assets as of the end of 2020 were ¥5,158,535,284.56, a decrease of 1.87% from ¥5,256,690,601.18 at the end of 2019[32]. - The net assets attributable to shareholders increased by 5.01% to ¥4,107,903,650.55 at the end of 2020 from ¥3,911,734,528.48 at the end of 2019[32]. - The company reported a weighted average return on equity of 6.49% for 2020, down 4.89 percentage points from 11.38% in 2019[32]. - The company experienced a decrease in non-recurring gains and losses, with a net loss from non-current asset disposal of ¥1,583,713.27 in 2020[39]. - The company received government subsidies amounting to ¥26,793,559.02 in 2020, an increase from ¥18,512,505.42 in 2019[39]. - The total revenue for the year was approximately ¥2.68 billion, a decrease of 7.74% compared to the previous year[60]. - The net profit attributable to shareholders was approximately ¥260 million, down 38.97% year-on-year[60]. Market Position and Strategy - The company is actively expanding its market presence and product offerings in the blood products sector[12]. - The company is exploring strategic mergers and acquisitions to strengthen its market position and expand its product portfolio[12]. - The company aims to become a world-class blood product enterprise and a benchmark in the pharmaceutical industry[66]. - The company is focusing on expanding its product lines in diabetes, orthopedics, gastrointestinal, and high-end anti-infection drugs[61]. - The company emphasizes the collaborative development of blood and non-blood products to ensure stable growth across its business segments[46]. - The overall market for blood products is considered a strategic national resource, highlighting the importance of the company's offerings in treating major diseases[47]. - The company has a strong market position in diabetes medications, producing over ten varieties under the "Tianan" brand, including metformin and pioglitazone[52]. - The company has established a comprehensive product structure in biochemical drugs, focusing on peptide drugs and maintaining a leading market position in core products like bone peptides[53]. Research and Development - The company is focused on research and development of new products to enhance its competitive edge in the pharmaceutical industry[12]. - The company is advancing several R&D projects, including human coagulation factor VIII and high-concentration immunoglobulin, with the human coagulation factor VIII product ready for market application submission[83]. - The company has increased its R&D investment to expedite the development of new products, particularly in the coagulation factor category[197]. - The company’s R&D personnel increased to 204, representing 12.61% of the total workforce[123]. - Research and development expenses for 2020 were ¥126,112,303.02, representing 4.70% of operating income, an increase from 4.54% in 2019[123]. Operational Challenges - The company faces a significant risk of raw material supply shortages due to the tight supply of healthy human plasma, which directly impacts production capacity[7]. - The company has a risk of not obtaining product registration certificates for new products, which could delay their market launch[9]. - The company emphasizes the importance of product quality control, as any issues could lead to production halts and reputational damage[10]. - The company faces goodwill impairment risks due to the acquisition of Tianan Pharmaceutical, Xinbai Pharmaceutical, and Fuda Pharmaceutical, which may negatively impact current profits if their future performance deteriorates[198]. - The company faces risks related to raw material supply shortages, which are critical for production scale, and is actively seeking to secure plasma supply[194]. Plasma Collection and Production - The company achieved a plasma collection volume of approximately 378 tons in 2020, representing a year-on-year growth of 1.61%, despite a 9% decline in the overall industry due to the COVID-19 pandemic[47]. - The company operates 13 plasma collection stations, having recently received approval for a new station in Tunchang[47]. - The company increased its plasma collection capacity, achieving a total collection of approximately 378 tons, a year-on-year increase of 1.61%, making it one of the few companies in the industry with positive growth in plasma collection[77]. - Boya Bio currently operates 13 single plasma collection stations, with a total raw plasma collection of approximately 378 tons in 2020, indicating a relatively small scale[188]. - Boya Bio has a competitive advantage in plasma yield, utilizing advanced production methods that result in higher yields compared to traditional methods[188]. Shareholder and Governance Changes - The controlling shareholder, Gaotejia Group, transferred 69,331,978 shares (16.00% of total shares before the transfer) to China Resources Pharmaceutical Holdings, which will result in a change of control of the company[93]. - After the share transfer and voting rights delegation, China Resources Pharmaceutical Holdings will hold 155,996,950 shares (30.00% of total shares post-issuance) and will become the controlling shareholder[94]. - The company signed a management framework agreement with its subsidiary, BoYa (Guangdong), to oversee daily operations and management[97]. Investment and Fund Management - The company has effectively managed the raised funds according to its management system, ensuring proper supervision and usage[153]. - The total amount of unused raised funds as of the end of the reporting period was CNY 99,388.15[149]. - The company plans to use up to RMB 700 million of idle fundraising to temporarily supplement working capital, with a repayment period not exceeding 12 months[169]. - The company has reported a total of CNY 211,968.44 million in raised funds, with a cumulative investment of CNY 99,876.64 million[162]. - The company has decided to terminate the "Blood Product R&D Center and Pilot Workshop Reconstruction Project" to avoid redundant investments and reduce management costs[166].

Financial Performance - The company's operating revenue for Q1 2021 was ¥672,101,665.87, representing a 3.29% increase compared to ¥650,690,995.81 in the same period last year[8]. - The net profit attributable to shareholders for Q1 2021 was ¥100,736,164.66, up 5.04% from ¥95,900,464.56 year-on-year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥98,876,255.69, reflecting a 12.38% increase from ¥87,981,685.60 in the previous year[8]. - The basic earnings per share for Q1 2021 were ¥0.24, up 4.35% from ¥0.23 in the same period last year[8]. - The diluted earnings per share for Q1 2021 were also ¥0.24, reflecting a 4.35% increase compared to ¥0.23 year-on-year[8]. - Operating profit reached ¥122,974,479.86, reflecting a growth of 5.96% compared to the same period last year[28]. - Net profit for the current period was ¥103,957,040.08, compared to ¥99,887,304.66 in the previous period, representing a growth of approximately 4.1%[78]. - The company reported investment income of ¥7,801,292.65, compared to a loss of ¥350,982.18 in the previous period, indicating a significant turnaround[74]. Cash Flow and Liquidity - The net cash flow from operating activities for Q1 2021 was ¥159,306,575.70, a significant increase of 127.42% compared to ¥70,048,130.64 in the same period last year[8]. - Cash flow from operating activities totaled ¥638,313,730.36, slightly down from ¥657,032,658.71 in the previous period[85]. - Cash and cash equivalents at the end of the period were ¥658,990,471.10, compared to ¥654,858,424.20 at the end of the previous period[90]. - The company’s cash inflow from operating activities was primarily driven by an increase in cash received from sales, which totaled 296,802,996.48 CNY, slightly up from 296,135,799.59 CNY[92]. - Cash outflow from operating activities decreased to 598,739,636.59 CNY from 632,748,694.47 CNY, a decline of 5.4%[92]. - Cash and cash equivalents decreased from ¥645,846,795.60 to ¥386,343,704.73, a drop of about 40%[63]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,005,101,156.91, down 2.97% from ¥5,158,535,284.56 at the end of the previous year[8]. - Total liabilities decreased from ¥966,078,096.11 to ¥708,746,713.24, a decline of approximately 26.6%[62]. - Current liabilities decreased from ¥871,927,797.99 to ¥662,698,410.19, a reduction of about 24%[59]. - Long-term equity investments decreased from ¥1,607,577,029.36 to ¥1,508,395,766.87, a decline of approximately 6.1%[66]. - Total current assets as of March 31, 2021, are 2,760,475,116.63 RMB, down from 2,927,663,474.49 RMB at the end of 2020[53]. - Total equity increased from ¥4,192,457,188.45 to ¥4,296,354,443.67, an increase of about 2.5%[62]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,886[12]. - The company has not faced any overdue commitments from its actual controllers or shareholders during the reporting period[38]. - The company’s controlling shareholder underwent a change in equity, which requires approval from relevant regulatory bodies before proceeding with stock issuance[32]. Regulatory and Compliance - The company received a regulatory correction order from the China Securities Regulatory Commission on March 3, 2021, due to issues related to fund occupation[35]. - The company is actively addressing regulatory compliance issues as part of its operational strategy[35]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[48]. Research and Development - The company reported a significant decrease in research and development expenses by 54.86% to ¥8,165,544.65[24]. - Research and development expenses decreased significantly to ¥2,611,824.06, down 76.3% from ¥11,043,867.32 in the previous period[81]. Business Segments - The blood products business generated total operating revenue of ¥283,471,117.56, a 17.10% increase year-on-year, with net profit rising 43.19%[28]. - Tianan Pharmaceutical reported operating revenue of ¥58,391,867.14, a decrease of 33.73%, with net profit down 36.29%[28]. - New Bai Pharmaceutical's operating revenue was ¥169,703,097.79, a 2.29% increase, but net profit decreased by 36.03%[28]. - Ruda Pharmaceutical achieved sales revenue of ¥158,692,569.99, up 2.79%, with net profit declining by 4.82%[28]. Investment and Fundraising - The total amount of raised funds is 98,925.6 million RMB, with 2,872.83 million RMB invested in the current quarter, representing 2.90% of the total commitment[41]. - The company plans to temporarily use up to 90,000.00 million RMB of idle raised funds to supplement working capital, with a repayment period not exceeding 12 months[44]. - The cumulative amount of pre-invested self-raised funds in the projects reached 11,559,173.17 RMB, with specific allocations for land and design costs[44].

Financial Performance - The company's operating revenue for 2020 was ¥2,683,754,348.35, a decrease of 7.74% compared to ¥2,908,769,255.35 in 2019[32]. - The net profit attributable to shareholders for 2020 was ¥260,060,146.52, down 38.97% from ¥426,146,775.92 in 2019[32]. - The basic earnings per share for 2020 was ¥0.61, a decline of 39.00% from ¥1.00 in 2019[32]. - The total assets as of the end of 2020 were ¥5,158,535,284.56, a decrease of 1.87% from ¥5,256,690,601.18 at the end of 2019[32]. - The net assets attributable to shareholders increased by 5.01% to ¥4,107,903,650.55 at the end of 2020 from ¥3,911,734,528.48 at the end of 2019[32]. - The net cash flow from operating activities for 2020 was ¥718,583,048.24, a significant increase of 727.51% compared to a negative cash flow of ¥114,512,591.73 in 2019[32]. - The company reported a weighted average return on equity of 6.49% for 2020, down 4.89 percentage points from 11.38% in 2019[32]. - The company experienced a decrease in net profit after deducting non-recurring gains and losses, which was ¥248,721,937.76 in 2020, down 39.16% from ¥408,795,458.34 in 2019[32]. - The company received government subsidies amounting to ¥26,793,559.02 in 2020, compared to ¥18,512,505.42 in 2019[39]. - The total revenue for the reporting period was approximately CNY 2.68 billion, a decrease of 7.74% compared to the previous year[61]. - The net profit attributable to shareholders was approximately CNY 260 million, down 38.97% year-on-year[61]. Product Development and Market Strategy - The company is focused on expanding its market presence and developing new products in the blood products sector[9]. - The company aims to be a benchmark for pharmaceutical enterprises in China, focusing on both blood and non-blood product development[47]. - The company is committed to expanding its market presence and enhancing its product offerings through research and development initiatives[58]. - The company is developing a modern manufacturing center and raw material supply center, emphasizing sustained-release formulations and intelligent manufacturing in the chemical drug sector[58]. - The overall strategy includes the collaborative development of blood products and non-blood products to achieve synergistic growth across its business segments[47]. - The company launched new products including human coagulation factor VIII and vWF factor, with preparations for clinical trials underway[84]. - The company is enhancing its R&D efforts, particularly in coagulation factor products, to ensure timely registration and market entry of new products[199]. Quality Control and Risk Management - The company emphasizes the importance of product quality control, as any issues could lead to production halts and reputational damage[10]. - The company acknowledges the risks associated with the pharmaceutical industry, including regulatory changes and market competition[6]. - The company is committed to maintaining a robust quality management system to mitigate product quality risks, which are critical for market reputation[200]. - The company has implemented advanced production methods, achieving high yield rates and maintaining product quality above national standards[68]. - The company has a stable management team with extensive experience in the blood product industry, contributing to sustainable development and enhanced profitability[73]. Plasma Collection and Supply Chain - The company achieved a plasma collection volume of approximately 378 tons in 2020, representing a year-on-year growth of 1.61%, while the overall industry saw a decline of about 9% due to the COVID-19 pandemic[48]. - The company operates 13 plasma collection stations following the approval of a new station in Tunchang, enhancing its plasma sourcing capabilities[48]. - The company aims to enhance raw plasma supply capabilities by optimizing existing collection stations and applying for new ones[194]. - The company plans to increase its number of plasma collection stations through acquisitions and new applications, leveraging its unique qualifications[195][198]. - The blood plasma collection in China decreased by approximately 9% in 2020, totaling around 8,300 tons compared to 2019[189]. - Boya Bio has 13 plasma collection stations and collected about 378 tons of raw plasma in 2020, with a high revenue per ton of plasma[190]. Financial Management and Investments - The company has fully recovered the funds related to the procurement of raw plasma, resolving previous financial occupation issues[103]. - The company has a total of RMB 24,261.37 million allocated for working capital, which has been fully utilized[160]. - The company has achieved a cumulative benefit of RMB 24,510 million from the single plasma station project[160]. - The company has invested RMB 2,801.17 million in the single plasma station project, achieving a completion rate of 99.85%[160]. - The company has completed the repayment of bank loans amounting to 4,000 million, with 100% of the funds utilized for this purpose[165]. - The company has temporarily supplemented working capital with RMB 70 million and RMB 90 million of idle raised funds, both of which have been returned to the special account[171]. Shareholder and Corporate Governance - The controlling shareholder, Gaotejia Group, transferred 69,331,978 shares (16.00% of total shares) to China Resources Pharmaceutical Group, which will result in a change of control[96]. - After the share transfer, China Resources Pharmaceutical Group will hold 155,996,950 shares, representing 30.00% of the total shares post-issuance[97]. - The first phase of the employee stock ownership plan was completed, with all shares sold by September 25, 2020[93]. - The company signed a management framework agreement to oversee the daily operations of its subsidiary, BoYa (Guangdong)[102]. Industry Trends and Competitive Landscape - The blood product industry is experiencing consolidation, with the number of global blood product companies decreasing from 102 to fewer than 20, indicating a high market concentration[187]. - The pharmaceutical industry in China is expected to continue its rapid growth due to economic development and healthcare reforms, with a clear upward trend in demand[191]. - By 2020, the four leading blood product companies (TianTan Bio, Shanghai RAAS, Hualan Bio, and Taibang Biologics) accounted for over 50% of the national plasma collection[189].

Financial Performance - Net profit attributable to shareholders decreased by 40.38% to CNY 62,758,127.19 for the quarter[8] - Operating revenue for the quarter was CNY 660,950,831.34, down 9.03% year-on-year[8] - Basic earnings per share decreased by 37.50% to CNY 0.15[8] - The weighted average return on net assets was 1.55%, a decrease of 1.26% compared to the previous year[8] - The net profit after deducting non-recurring gains and losses was CNY 63,730,310.11, down 36.59% year-on-year[8] - Total operating revenue for the third quarter was CNY 660,950,831.34, a decrease from CNY 726,575,759.10 in the previous period[75] - Operating profit for the current period was ¥35,341,380.08, down 61.9% from ¥92,532,691.84 in the previous period[84] - Net profit for the current period was ¥29,680,906.01, a decline of 62.3% compared to ¥78,688,285.50 in the previous period[84] - Total profit for the current period was ¥34,952,625.80, down 61.7% from ¥91,183,268.15 in the previous period[84] - Net profit for the period was ¥286,888,093.32, a decrease from ¥398,153,772.92 in the previous period[91] Assets and Liabilities - Total assets increased by 1.15% to CNY 5,317,294,131.07 compared to the end of the previous year[8] - As of September 30, 2020, the total assets of the company amounted to approximately CNY 5.32 billion, an increase from CNY 5.26 billion at the end of 2019[57] - The total liabilities increased to CNY 2.13 billion from CNY 1.93 billion, indicating a rise of approximately 10.4%[60] - Total liabilities decreased to CNY 1,164,562,991.58 from CNY 1,268,103,883.65 year-over-year[66] - The total current assets were reported at ¥3,052,983,392.46, with non-current assets totaling ¥2,203,707,208.72, leading to a total asset value of ¥5,256,690,601.18[114] - The total liabilities amounted to ¥1,268,103,883.65, with current liabilities at ¥956,509,297.38 and non-current liabilities at ¥311,594,586.27[117] Cash Flow - Net cash flow from operating activities surged by 256.40% to CNY 240,351,042.22[8] - Operating cash inflow for the current period reached ¥2,091,952,053.55, an increase of 5.5% compared to ¥1,982,572,766.91 in the previous period[102] - Net cash flow from operating activities was ¥481,638,127.95, a significant improvement from -¥254,529,502.25 in the previous period[102] - Cash flow from financing activities resulted in a net outflow of -¥146,276,386.32, a decrease from -¥268,396,147.32 in the previous period[105] - Total cash and cash equivalents at the end of the period amounted to ¥594,222,282.77, up from ¥561,450,917.38 in the previous period[105] Shareholder Information - The company reported a total of 20,417 common shareholders at the end of the reporting period[14] - The largest shareholder, Shenzhen Gaotejia Investment Group Co., Ltd., holds 29.17% of the shares[14] - The controlling shareholder, Shenzhen Gaotejia Investment Group, signed agreements for share transfer and voting rights delegation with China Resources Pharmaceutical Holdings[29] - China Resources Pharmaceutical Holdings will acquire control of the company through the transfer of 69,331,978 shares, representing 16.00% of the total share capital before the issuance[31] Investments and Expenditures - The company's investment income decreased significantly, showing a decline of 189.8% compared to the previous year, attributed to reduced returns from financial products[23] - The company plans to permanently supplement its working capital with the remaining funds from its initial public offering and the 2015 major asset restructuring[26] - The company signed a management framework agreement to oversee the daily operations of its subsidiary, aiming to enhance the procurement of raw plasma[37] - The company plans to prioritize the repayment of outstanding prepayments to its subsidiary, ensuring the protection of shareholder interests during the control transfer[42] Operational Changes - The construction of the intelligent factory for blood products has been postponed by up to 24 months, now expected to be completed by June 2023[27] - The company has committed to ensuring the safety of prepaid plasma supply funds, with obligations to return any unpaid amounts and interest if necessary[44] - The company has implemented new revenue and leasing standards starting January 1, 2020, which required adjustments to the financial statements[120] - The company has recognized contract liabilities of approximately $1.30 million, indicating future obligations to deliver goods or services[127] Miscellaneous - The company reported no violations regarding external guarantees during the reporting period[46] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[47] - The company has not disclosed any significant changes in net profit or losses compared to the previous year[46] - The third-quarter report has not been audited, indicating that the figures are preliminary and subject to change[131]

Financial Performance - The company reported a significant increase in revenue, achieving a total of RMB 1.2 billion for the first half of 2020, representing a year-on-year growth of 25%[21]. - The company's operating revenue for the reporting period was ¥1,327,906,812.03, a decrease of 3.47% compared to ¥1,375,693,619.65 in the same period last year[29]. - The net profit attributable to shareholders was ¥161,112,708.06, down 24.42% from ¥213,163,378.40 year-on-year[29]. - The net profit after deducting non-recurring gains and losses was ¥152,987,548.01, a decrease of 23.51% compared to ¥200,015,889.33 in the previous year[29]. - The basic earnings per share were ¥0.38, down 24.00% from ¥0.50 in the same period last year[29]. - The diluted earnings per share were also ¥0.38, reflecting a 24.00% decrease compared to ¥0.50 year-on-year[29]. - The weighted average return on equity was 4.04%, a decrease of 1.73 percentage points from 5.77% in the previous year[29]. - Operating profit was CNY 200,009,916.49, down 20.51% year-on-year[51]. - The blood products segment generated revenue of CNY 468,513,779.34, a decline of 0.81%, accounting for 35.28% of total revenue[67]. - The net profit from the blood products segment was CNY 107,233,380.98, down 28.29%, representing 66.56% of the net profit attributable to shareholders[67]. Cash Flow and Investments - The net cash flow from operating activities increased significantly by 339.24%, reaching ¥241,287,085.73, compared to a negative cash flow of -¥100,856,350.89 in the same period last year[29]. - The company reported a 106.53% increase in cash flow from financing activities, amounting to ¥10,002,810.23, compared to a negative cash flow of ¥153,254,991.72 last year[83]. - The company’s cash and cash equivalents decreased by 6.56% to ¥533,458,329.76 from ¥568,749,271.48 year-on-year[92]. - The company has invested ¥437,165,652.70 in financial assets measured at fair value, all sourced from its own funds[99]. - The company has allocated ¥24,261.37 million for working capital, achieving 100% investment progress[108]. Growth and Expansion - The company anticipates a revenue growth of 20% for the second half of 2020, driven by increased production capacity and market demand for blood products[21]. - New product development is underway, with two new blood products expected to receive regulatory approval by the end of 2020, potentially adding RMB 300 million in annual revenue[21]. - The company is expanding its market presence by establishing three new plasma collection stations in key regions, which is projected to enhance plasma supply by 30%[21]. - The company has completed the acquisition of Tianan Pharmaceutical, which is expected to contribute an additional RMB 500 million in revenue annually[21]. - The company plans to establish a new plasma collection station to expand its raw plasma supply through self-development[112]. Research and Development - The company plans to invest RMB 200 million in research and development for innovative therapies over the next two years[21]. - The company has strengthened its R&D capabilities, focusing on immunoglobulin and factor products[57]. - The company is actively advancing R&D projects in blood products, including coagulation factors and immunoglobulin products[74]. - The company has established a new R&D center in Beijing to enhance its capabilities in developing specific immunoglobulin products and other blood products[117]. Risk Management - The company has identified risks related to raw material supply, with a 20% decrease in available plasma due to regulatory changes impacting the industry[21]. - The company faces a significant risk of raw material supply shortages due to the tight supply of healthy human plasma, which directly impacts production scale[130]. - The company has a risk associated with the uncertainty of obtaining registration certificates for new products, which could delay product launches[133]. - The company recognizes the investment risks in the pharmaceutical industry due to increasing competition and plans to conduct thorough due diligence on potential investment projects[134]. - The company has established a comprehensive quality management system to mitigate product quality control risks, which are critical for maintaining brand reputation[134]. Corporate Governance - The company will not distribute cash dividends for the current fiscal year, focusing instead on reinvestment for growth initiatives[21]. - The controlling shareholder, Shenzhen Gaotejia Investment Group Co., Ltd., has committed to not transfer or entrust the management of its shares for 60 months from the date of the company's stock listing[146]. - The company has received commitments to avoid any form of competition with Boya Biotech from its shareholders[153]. - The company has established commitments to avoid related party transactions and ensure compliance with market principles[152]. Environmental Compliance - The wastewater treatment system of Boya Biopharma has a design capacity of 500 cubic meters per day, ensuring compliance with discharge standards[198]. - All companies have established comprehensive pollution prevention facilities, ensuring stable operation and compliance with discharge standards[198][199][200]. - The companies have implemented emergency response plans and conduct regular drills to manage potential environmental incidents[198][200].