梅花生物：2025年半年度报告

2025Semi-AnnualReport ThisisanEnglishtranslationfromthe2025Semi-AnnualReport,incaseofanyinconsistency,theChineseVersionshallprevail. ImportantInformation I.TheCompany’sboardofdirectors,boardofsupervisors,directors,supervisors,andofficersguaranteethatthecontentsofthissemi-annualreportaretrue,accurate,andcompletewithoutanyfalserecords,misleadingstatements,ormaterialomissionsandbearjointandseverallegalliability. II.AlloftheCompany’sdirectorshaveattendedtheboardmeeting. III.Thissemi-annualreporthasnotbeenaudited. IV.WangAijun,theprincipaloftheCompany,WangLihong,theaccountingprincipal,andWangAiling,theprincipaloftheaccountingbody(theaccountingofficer),herebydeclarethattheyguaranteethetruthfulness,accuracy,andcompletenessofthefinancialreportinthissemi-annualreport. V.Profit distribution plan or capital reserve conversion plan for the Reporting Period asapprovedbytheBoard NotApplicable VI.RiskDisclosureonForward-LookingStatements √ApplicableNotapplicable Thissemi-annual reportinvolvesforward-lookingdescriptionssuch asfutureplans,andsuchstatementsdonotconstitutematerialcommitmentsforinvestors.Investorsareremindedtopayattentiontotheriskofinvestment. VII.Anyoccupationoffundsbythecontrollingshareholderorotheraffiliatesfornon-operatingpurposes No VIII.Anyexternalguaranteethatviolatesthedecision-makingproceduresNo IX.Isitthecasethatmorethanhalfofthedirectorscannotguaranteethetruthfulness,accuracy,andcompletenessofthesemi-annualreportdisclosedbytheCompany?No X.WarningofKeyRisks ForthedetailsoftherisksfacedbytheCompany,refertothe“PotentialRisks”partin“Section3DiscussionandAnalysisbytheManagement”andthe“RisksRelatedtoFinancialInstruments”partin“Section8FinancialReport”. XI.Miscellaneous Applicable√Notapplicable Contents Section1Definitions...................................................................................................................................5Section2CompanyOverviewandKeyFinancialIndicators..............................................................10Section3DiscussionandAnalysisbytheManagement......................................................................14Section4CorporateGovernance,Environment,andSociety.............................................................43Section5SignificantMatters...................................................................................................................49Section6ShareChangesandShareholders...........................................................................................60Section7InformationonSecurities........................................................................................................63Section8FinancialReport.......................................................................................................................64 Section1.Definitions Inthisreport,thetermsbelowhavethefollowingmeanings,unlessthecontextotherwiserequires: Section2.CompanyOverviewandKeyFinancialIndicators I.CompanyInformation II.ContactPersonandContactInformation IV.SummaryofChangesinInformationDisclosureandFilingLocations VI.OtherRelevantInformation □Applicable√Notapplicable VII.KeyAccountingDataandFinancialIndicatorsoftheCompany(I)KeyAccountingData (II)KeyFinancialIndicators VIII.DifferencesinAccountingDataunderDomesticandForeignAccountingStandards Applicable√Notapplicable Ifthe Company defines any items not listed in the Explanatory Announcement on InformationDisclosureforCompaniesOfferingTheirSecuritiestothePublicNo.1–Non-recurringGainsorLossesasnon-recurringitemswhichinvolvesignificantamountsordefinesanynon-recurringitemslistedintheExplanatoryAnnouncementonInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublicNo.1–Non-recurringGainsorLossesasrecurringitems,theCompanyshouldprovidethereasons.Applicable√Notapplicable X.Net Profit Adjusted for Share-Based Payments(Applicable to Companies with EquityIncentiveorEmployeeStockOwnershipPlans) Applicable√Notapplicable XI.Miscellaneous Applicable√Notapplicable Section3.DiscussionandAnalysisbytheManagement I.IndustryandMainBusinessOverviewDuringtheReportingPeriod (I)IndustryOverview 1.IndustryClassification BasedontheGuidingCatalogueofKeyProductsandServicesforStrategicEmergingIndustries(2016Edition)issuedbytheNationalDevelopmentandReformCommission(NDRC),theCompany’smainproducts fall within the“bio-manufacturing industry of the biological industry.”Hence,theCompanyisinthebio-manufacturingindustry. Biomanufacturingisanadvancedproductionmethodcenteredonindustrialbiotechnology.Itreliesoncutting-edgebiologicaltechnologiessuchasgeneticengineeringandsyntheticbiology,andutilizesthephysiologicalandmetabolicfunctionsorcatalyticactivitiesofmicroorganisms,cells,andenzymestoproducetargetproductsonalargescalethroughindustrialfermentationprocesses.Accordingtoindustryforecasts,China’sbiomanufacturingmarketisexpectedtoreachRMB1.8trillionby2030,accountingfornearly25%oftheglobalmarket. 2.IndustryDevelopment (I)“BiomanufacturingEverything” A