Financial Performance - Revenue for the first quarter of 2022 was CNY 134,395,716.55, representing a decrease of 8.24% from CNY 146,467,698.09 in the same period last year[18]. - Net profit attributable to shareholders for the first quarter of 2022 was CNY 5,032,894.30, down 48.27% from CNY 9,729,882.49 year-on-year[18]. - Basic earnings per share decreased by 57.47% to CNY 0.07 from CNY 0.17 in the same period last year[18]. - The company's net profit after deducting non-recurring gains and losses fell by 56.80% due to reduced sales and increased financial costs[20]. - The decrease in net profit was primarily attributed to a reduction in sales revenue by CNY 12,072,000, mainly from foreign customers[19]. - Total operating revenue for Q1 2022 was CNY 134,395,716.55, a decrease of 8.3% compared to CNY 146,467,698.09 in Q1 2021[45]. - Net profit for Q1 2022 was CNY 5,032,894.30, a decline of 48.3% from CNY 9,729,882.49 in Q1 2021[46]. - The total profit for Q1 2022 was CNY 5,957,614.65, down 3.8% from CNY 6,194,587.76 in Q1 2021[49]. Cash Flow - The company's net cash flow from operating activities for the first quarter was CNY 9,600,679.61, a decline of 12.25% compared to CNY 10,940,616.60 in the previous year[18]. - Cash flow from operating activities for Q1 2022 was CNY 9,600,679.61, a decrease of 12.3% from CNY 10,940,616.60 in Q1 2021[51]. - Cash flow from financing activities for Q1 2022 was CNY 10,924,240.39, a decrease of 61.5% compared to CNY 28,438,216.39 in Q1 2021[52]. - Cash inflow from financing activities amounted to $13,121,826.55, significantly lower than $30,000,000.00 in the prior period[55]. - The net cash flow from financing activities was $11,565,509.59, down from $29,542,875.00 in the previous period[55]. Assets and Liabilities - Total assets as of March 31, 2022, reached CNY 478,849,574.70, an increase of 5.71% compared to CNY 453,001,449.31 at the end of the previous year[18]. - Total liabilities were CNY 146,786,316.00, up from CNY 126,061,463.13, reflecting an increase of approximately 16.5%[39]. - The total liabilities to total assets ratio (consolidated) increased to 30.65% from 27.83% at the end of the previous year[18]. - Current liabilities totaled CNY 143,667,979.48, up 10.7% from CNY 129,726,137.58 in the previous period[43]. - Short-term borrowings rose to CNY 31,204,078.66 from CNY 18,021,175.00, indicating an increase of about 73.1%[38]. Shareholder Information - The largest shareholder, Huang Huachao, holds 21,500,000 shares, representing 30.89% of the total shares[26]. - The second largest shareholder, Cai Xiuying, holds 10,154,331 shares, representing 14.59% of the total shares[26]. - The total number of shareholders holding common stock is 4,951[24]. - The total number of unrestricted shares increased from 17,815,235 (25.59%) to 20,458,713 (29.39%) during the period[24]. - The total number of restricted shares decreased from 51,797,809 (74.41%) to 49,154,331 (70.61%) during the period[24]. - The total number of shares held by the top ten shareholders is 55,385,564, representing 79.57% of the total shares[26]. Other Financial Information - The company has provided guarantees for financing totaling 50,000,000 RMB, 20,000,000 RMB, and 100,000,000 RMB among others, with various guarantee periods extending to 2024[31]. - The company has no ongoing litigation or arbitration matters during the reporting period[29]. - The company has not provided any external guarantees or loans during the reporting period[29]. - The company did not implement any profit distribution or capital increase from reserves during the reporting period[34]. - The company has not disclosed any new product or technology developments in the current report[34]. - Research and development expenses for Q1 2022 were CNY 3,115,268.64, slightly down from CNY 3,294,111.82 in Q1 2021[46].

Financial Performance - The company achieved a total operating revenue of RMB 501,998,900 in 2021, with export revenue accounting for RMB 469,661,500, representing 93.56% of total revenue[20]. - The company's revenue for 2021 was CNY 501,998,915.82, a decrease of 20.51% compared to CNY 631,540,617.17 in 2020[36]. - The net profit attributable to shareholders for 2021 was CNY 10,093,053.37, down 83.50% from CNY 61,165,216.99 in 2020[36]. - The gross profit margin for 2021 was 15.86%, significantly lower than 27.00% in 2020[36]. - The net cash flow from operating activities decreased by 95.97% to ¥5,182,497.84 compared to ¥128,728,354.51 in 2020[39]. - The total asset growth rate for 2021 was 10.30%, down from 36.89% in 2020, while the net profit growth rate plummeted by 83.50%[40]. - The company reported a revenue of ¥501,998,915.82, a year-on-year decrease of 20.51, while net profit fell by 83.50% to ¥10,093,053.37[67]. - Operating profit decreased by 88.74% to CNY 9,185,095.94 compared to CNY 81,594,791.35 in the previous year[76]. - The company recognized non-operating income of ¥11,708,370.40 in 2021, a decrease from ¥27,336,923.44 in 2020[49]. Assets and Liabilities - Total assets at the end of 2021 amounted to CNY 453,001,449.31, reflecting a 10.30% increase from CNY 410,691,522.10 at the beginning of the year[38]. - Total liabilities decreased by 32.43% to CNY 126,061,463.13 in 2021 from CNY 186,563,594.22 in 2020[38]. - The net assets attributable to shareholders increased by 45.87% to CNY 326,939,986.18 in 2021 from CNY 224,127,927.88 in 2020[38]. - The company's asset-liability ratio (consolidated) was 27.83% at the end of 2021, down from 45.43% in 2020[38]. - The current ratio improved to 305% in 2021 from 206% in 2020, indicating better short-term financial health[38]. Shareholder Information - The actual controllers hold a combined 67.02% of shares, which allows them to effectively control strategic decisions[20]. - The total share capital increased by 24.98% from 55,700,000 shares at the beginning of the year to 69,613,044 shares at the end of 2021[42]. - The largest shareholder, Huang Huachao, holds 21,500,000 shares, representing 30.89% of total shares[173]. - The second-largest shareholder, Cai Xiuying, increased her holdings to 10,154,331 shares, accounting for 14.59%[173]. - The total number of ordinary shares increased from 55,700,000 to 69,613,044 shares after the issuance of 13,913,044 shares[172]. Research and Development - The company obtained 6 utility model patents through independent research and development in 2021[11]. - The company plans to focus on the research and development of metal storage products to enhance market competitiveness[29]. - Research and development expenditure amounted to CNY 14,413,961.19, representing 2.87% of operating revenue, an increase from 2.52% in the previous period[105]. - The total number of R&D personnel decreased from 99 to 95, with R&D personnel accounting for 7.60% of total employees[106]. - The company has established a high-quality R&D team and a product center to ensure the integration of technical innovation with production and sales[108]. Market and Competition - The company operates under an ODM model for overseas sales and an OBM model for domestic sales, with a focus on brand promotion in China[61]. - The metal shelving industry has significant growth potential in China, driven by rising living standards and increased awareness of space utilization[68]. - The U.S. storage products market is projected to grow from $10.5 billion in 2018 to $12.7 billion by 2023, reflecting a growing demand[70]. - The total value of China's storage rack industry reached ¥420 billion in 2021, with a projected annual growth rate of over 15% for the next five years, showcasing substantial growth opportunities[121]. - The company is facing increased competition in the metal storage rack industry, with a need to continuously innovate in product design and quality control to maintain its market position[129]. Risk Factors - The company is exposed to foreign exchange risks due to a high proportion of export sales and significant foreign currency assets[20]. - The company’s main raw materials, including steel products, accounted for approximately 70% of the total cost of goods sold, impacting gross margins significantly[20]. - The company’s export tax rebate rate was 13% during the reporting period, and any changes in this policy could directly affect operating costs and profitability[20]. - Major customer one accounted for 61.33% of total sales, indicating a high concentration of revenue from a single client[88]. - The company has established a risk response plan for unlicensed buildings, ensuring that the controlling shareholder will bear all related costs and penalties[132]. Corporate Governance - The company has not reported any unprofitable periods or cumulative losses during the reporting period, indicating financial stability[119]. - The company has no significant litigation or arbitration matters during the reporting period[136]. - The company has no major related party transactions or daily related transactions during the reporting period[137]. - The company has ongoing commitments regarding non-competition, ensuring no conflicts with related parties since December 15, 2015[140]. - The actual controller and major shareholders have commitments related to share reduction and price stabilization, with specific dates set for compliance until July 2024[140]. Commitments and Compliance - The company commits to strictly follow the profit distribution policy approved by the shareholders' meeting after the public offering[150]. - The company guarantees that its public offering documents do not contain false statements or omissions, and will compensate investors for any losses incurred[152]. - The company will ensure the effective use of raised funds and improve operational management to mitigate the dilution of immediate returns[147]. - The company will disclose any failure to fulfill commitments and apologize to shareholders and public investors[162]. - The company has pledged to minimize related party transactions and ensure that any unavoidable transactions are conducted at fair market prices[157].