Financial Performance - The company's operating revenue for 2020 was CNY 4,422,080,419.39, representing a 2.91% increase compared to CNY 4,297,028,434.35 in 2019[21] - The net profit attributable to shareholders for 2020 was CNY 32,085,059.46, a decrease of 9.28% from CNY 35,365,490.81 in 2019[21] - The net cash flow from operating activities was CNY 365,622,704.93, down 12.33% from CNY 417,024,861.78 in the previous year[22] - The total assets increased by 19.47% to CNY 4,614,706,968.82 at the end of 2020, compared to CNY 3,862,597,019.07 at the end of 2019[22] - The net assets attributable to shareholders rose by 12.56% to CNY 1,905,629,922.99 at the end of 2020, up from CNY 1,693,045,335.11 in 2019[22] - The basic earnings per share for 2020 was CNY 0.13, a decrease of 9.28% from CNY 0.14 in 2019[23] - The weighted average return on equity decreased to 1.78% in 2020 from 2.18% in 2019, a decline of 0.40 percentage points[23] Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.80 per 10 shares, totaling CNY 19,741,400 based on the total share capital of 246,767,500 shares[5] - The company reported a net profit attributable to the parent company of 32.085 million RMB, down 9.28% year-on-year[44] - In 2020, the company distributed a cash dividend of RMB 0.80 per 10 shares, compared to RMB 0.50 per 10 shares in 2019[101] Revenue and Trade Activities - In 2020, the company's total import and export volume reached $446.94 million, a year-on-year increase of 6.4%[44] - The company's export total was $288 million, a decrease of 2.0% year-on-year, while the import total was $159 million, an increase of 25.9% year-on-year[44] - The company has established trade relationships in over 100 countries and regions, successfully entering the supplier systems of Walmart and Costco[37] - The company has set up a garment production base in Myanmar to enhance its supply chain capabilities[38] - The company actively participated in online trade fairs and signed agreements with platforms to expand its foreign trade business during the pandemic[45] Business Segments and Strategy - The main business remains focused on trade, with exports primarily in clothing, toys, and fishing gear, while imports include medical devices and chemicals[30] - The company is enhancing its cultural and investment businesses to support its main trade operations, aiming to establish a unified incentive and constraint investment management model[30] - The company plans to continue its transformation and upgrade efforts, with increasing contributions from its subsidiaries[30] - The company aims to develop three key areas in its cultural business: art projects, cultural park operations, and cultural trade[30] - The company is focusing on enhancing its research and development capabilities to drive innovation and competitiveness in the market[49] Financial Management and Investments - The company reduced sales expenses by 25.17% to 170.95 million RMB, and management expenses decreased by 12.61% to 106.96 million RMB[56] - Investment income rose by 44.78% to approximately 61.48 million CNY, driven by increased financial management returns and debt restructuring gains[68] - The company has engaged in various entrusted wealth management products with a total amount of RMB 300 million, with annualized returns ranging from 1.54% to 4.3%[131] - The expected return from the wealth management products is approximately RMB 64.65 million, with actual returns matching the expected amounts for most products[131] Assets and Liabilities - The company's total assets amounted to ¥4,614,706,968.82 in 2020, compared to ¥3,862,597,019.07 in 2019, indicating an increase of around 19.5%[198] - Total liabilities increased to ¥2,206,562,866.55 in 2020, up from ¥1,797,518,421.99 in 2019, which is an increase of approximately 22.7%[198] - Shareholders' equity rose to ¥2,408,144,102.27 in 2020, compared to ¥2,065,078,597.08 in 2019, representing an increase of about 16.6%[198] Governance and Management - The company has a strategic plan to enhance its operational efficiency and governance structure[155] - The management team has a diverse background in finance, management, and industry-specific experience, which may contribute to future growth[154] - The company is committed to transparency in its remuneration policies for executives and board members[152] - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 3.1588 million yuan[161] Compliance and Legal Matters - The company is involved in significant litigation, including a contract dispute with Meyer Holdings, which has not yet gone to trial[113] - The company has recognized a provision for bad debts amounting to 2,382,945.00 RMB related to ongoing litigation[116] - The company is facing a civil lawsuit with a claim of 1,500,000 RMB against Nantong Hongye Import and Export Co., which is currently under review[118] Audit and Financial Reporting - The audit report issued by Tianheng Accounting Firm provided a standard unqualified opinion on the financial statements of Jiangsu Hongye Co., Ltd. for the year 2020[182] - The company reported no significant deficiencies in internal control during the reporting period[182] - The financial statements reflect the company's financial position and operating results fairly as of December 31, 2020[182]

公司代码：600128 公司简称：弘业股份 江苏弘业股份有限公司 2021 年第一季度报告 1.2 公司全体董事出席董事会审议季度报告。 江苏弘业股份有限公司 2021 年第一季度报告 1.3 公司负责人马宏伟、主管会计工作负责人叶子驭及会计机构负责人（会计主管人员）沈旭保 证季度报告中财务报表的真实、准确、完整。 1 / 30 1.4 本公司第一季度报告未经审计。 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 10 | 二、 公司基本情况 江苏弘业股份有限公司 2021 年第一季度报告 2.1 主要财务数据 一、 重要提示 | | 本报告期末 | 上年度末 | 本报告期末比上年 | | | --- | --- | --- | --- | --- | | | | | 度末增减(%) | | | 总资产 | 4,336,990,294.92 | 4,614,706,968.82 | -6.02 | | | 归属于上市公司股东的净资产 | 1,913,518,580.85 | 1,905,629,922.99 | ...

Financial Performance - Operating revenue for the first nine months was CNY 2,732,912,163.40, a decrease of 0.88% year-on-year[9] - Net profit attributable to shareholders of the listed company was CNY 32,283,094.01, compared to a loss of CNY 8,649,539.37 in the same period last year[9] - Basic earnings per share increased to CNY 0.1308 from a loss of CNY 0.0351 in the same period last year[9] - The company reported a net profit excluding non-recurring gains and losses of CNY 1,823,746.39, compared to a loss of CNY 30,432,619.10 in the same period last year[9] - The company reported a total revenue of CNY 1,485,084,091.34 for the first nine months of 2020, compared to CNY 1,478,381,196.72 for the same period in 2019, showing a slight increase[29] - Net profit for Q3 2020 reached approximately ¥12.65 million, compared to ¥5.66 million in Q3 2019, marking a significant increase[32] - The company reported a profit margin of approximately 1.05% for Q3 2020, up from 0.49% in Q3 2019[32] - The total profit for Q3 2020 was approximately ¥14.86 million, compared to ¥5.49 million in Q3 2019, indicating strong growth[32] - The company recorded a total comprehensive income of approximately ¥12.30 million in Q3 2020, compared to ¥8.15 million in Q3 2019[33] - Net profit for the first three quarters of 2020 was ¥21.33 million, compared to ¥18.24 million in the same period of 2019, reflecting a growth of 17.4%[36] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,855,776,053.80, a decrease of 0.18% compared to the end of the previous year[9] - Total liabilities decreased to CNY 1,766,170,024.64 from CNY 1,797,518,421.99, indicating a reduction in financial obligations[23] - The company's total equity increased to CNY 2,089,606,029.16 from CNY 2,065,078,597.08, reflecting a growth in shareholder value[23] - Total current assets amounted to CNY 2,069,167,108.36, slightly down from CNY 2,075,272,373.32 at the end of last year[21] - Cash and cash equivalents decreased significantly to CNY 148,951,301.89 from CNY 220,960,661.66, indicating a liquidity challenge[26] - Current liabilities totaled CNY 1,505,471,327.99, including short-term borrowings of CNY 268,821,950.46 and accounts payable of CNY 594,593,601.18[46] - Total liabilities reached CNY 1,797,518,421.99, with non-current liabilities at CNY 292,047,094.00[47] - The total current assets and liabilities indicate a healthy liquidity position for the company[51] Cash Flow - The net cash flow from operating activities for the first nine months was CNY -93,268,113.98, an improvement from CNY -167,493,721.38 in the previous year[9] - The company reported a net cash flow from operating activities of -¥93.27 million for the first three quarters of 2020, an improvement from -¥167.49 million in the same period of 2019[38] - The total cash inflow from operating activities in Q3 2020 was CNY 617,268,753.40, a 58.8% increase from CNY 388,425,699.95 in Q3 2019[41] - The company incurred cash outflows of CNY 769,743,034.04 from operating activities, which is an increase from CNY 612,798,136.56 in the previous year[41] - The financing activities generated a cash inflow of CNY 429,394,659.63, up from CNY 182,915,723.94 in the same period of 2019[41] - The net cash flow from financing activities was CNY -111,457,447.58, worsening from CNY -45,432,276.20 in the previous year, indicating higher debt repayments[43] Shareholder Information - Net assets attributable to shareholders of the listed company increased by 1.05% to CNY 1,710,905,309.93 compared to the end of the previous year[9] - Total number of shareholders reached 26,264[12] Government Support - Government subsidies recognized in the current period amounted to CNY 2,074,988.39, primarily from exhibition subsidies and employment stabilization subsidies[9] - Non-operating income for the current period included CNY 6,410,530.44, with significant contributions from government compensation for land acquisition[10] - Other income rose by 53.02% to CNY 7,026,992.91, attributed to increased government subsidies[17] Investment and Expenses - Financial expenses increased by 80.55% to CNY 13,351,923.75, mainly due to exchange losses from RMB appreciation[17] - The company has ongoing investments in fixed assets, with a total of CNY 288,896,170.77 as of September 30, 2020[22] - Research and development expenses were not reported for the periods analyzed, indicating a potential area for future investment[31] - Sales expenses increased to ¥35.05 million in the first three quarters of 2020, up 65.9% from ¥21.12 million in the same period of 2019[35]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,524,264,939.01, a decrease of 4.94% compared to CNY 1,603,424,161.44 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was CNY 22,879,810.38, a significant recovery from a loss of CNY 9,519,457.04 in the previous year[21]. - The net cash flow from operating activities was negative at CNY -50,868,421.32, an improvement from CNY -63,553,467.65 in the same period last year[21]. - The total profit amounted to 28.77 million yuan, with a net profit attributable to the parent company of 22.8798 million yuan, marking a turnaround from loss to profit compared to the same period last year[43]. - The company reported a net profit for the first half of 2020 of RMB 23,974,741.06, a significant recovery from a net loss of RMB 15,001,201.45 in the same period last year[117]. - The company achieved a total comprehensive income of RMB 23,910,526.76, compared to a loss of RMB 12,519,110.06 in the first half of 2019[117]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,784,197,407.39, down 2.03% from CNY 3,862,597,019.07 at the end of the previous year[21]. - The total liabilities and owners' equity at the end of the first half of 2020 amounted to CNY 1,858,036,080.30, consistent with the previous reporting period[132]. - The asset-liability ratio decreased from 46.54% at the end of 2019 to 45.04%, enhancing risk prevention and asset quality[44]. - Current liabilities totaled CNY 1,472,793,183.26, slightly down from CNY 1,505,471,327.99 in the previous period[109]. - Non-current liabilities decreased to CNY 231,553,475.29 from CNY 292,047,094.00, indicating a reduction in long-term financial obligations[109]. Cash Flow - The cash inflow from operating activities for the first half of 2020 was CNY 1,892,903,907.49, an increase of 2.9% compared to CNY 1,838,255,368.73 in the first half of 2019[123]. - The cash inflow from investment activities significantly increased to CNY 1,525,706,756.01, compared to CNY 72,911,058.49 in the previous year[124]. - The cash inflow from financing activities totaled CNY 297,468,589.77, up from CNY 117,914,112.09 in the same period last year[124]. - The total cash and cash equivalents at the end of the period were CNY 432,294,313.88, compared to CNY 304,620,678.85 at the end of the first half of 2019[124]. Government Support and Subsidies - The company received government subsidies amounting to CNY 4,952,004.52, primarily for exhibition support and employment stabilization[23]. - The company received government compensation of CNY 23,676,200 for land storage, which was included in the current period's profit[57]. Market and Trade - The company's export trade primarily includes categories such as clothing, toys, and fishing gear, while imports focus on medical devices and chemicals[28]. - The overall import and export trade value in China for the first half of 2020 was 14.24 trillion RMB, showing a year-on-year decline of 3.2%[32]. - The company is actively expanding its cross-border e-commerce business to leverage the growth of the global internet economy[38]. - The company continues to face uncertainties in foreign trade due to global economic downturns and trade tensions, with predictions of a 4.9% decline in the world economy[32]. Risks and Challenges - The company has outlined potential risks in its operations, which are detailed in the report[8]. - The company is facing significant challenges with order cancellations and delays due to the pandemic, impacting its international market demand[72]. - The company has reported major litigation and arbitration matters during the reporting period[81]. Shareholder and Equity Information - The total owner's equity at the end of the current period is CNY 1,488,620,039.53, which shows a decrease of CNY 11,951,106.87 from the previous period[137]. - The company did not report any significant changes in share capital or shareholder structure during the reporting period[99]. - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[75]. Investment and Subsidiaries - Jiangsu Hongye Co., Ltd. invested 8 million yuan in Jiangsu Aitao Public Art Development Co., Ltd., holding a 40% stake, with an initial investment of 4 million yuan completed during the reporting period[62]. - Jiangsu Hongye's investment in Hongye Futures Co., Ltd. generated a net profit of 39,246,956.55 yuan, contributing 29.55% to the company's net profit[69]. - The company completed the merger of its wholly-owned subsidiary Jiangsu Hongye Ship Trading Co., Ltd. into Jiangsu Hongye Crafts Co., Ltd., increasing the registered capital from 15.5 million yuan to 25.5 million yuan[68]. Accounting Policies and Practices - The financial statements are prepared based on the going concern principle, indicating management's belief in the company's ability to continue operations for at least 12 months from the approval date of the financial statements[145]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements accurately reflect its financial position and operating results[147]. - The company recognizes impairment losses for non-current assets held for sale when their carrying amount exceeds the fair value less costs to sell[177]. Legal Matters - The company reported a civil lawsuit involving a claim of 1,108,000 RMB, with a provision for bad debt of 1,642,974.31 RMB[82]. - A civil lawsuit against the company resulted in a judgment for the return of 45.34 kg of gold, with a provision for bad debt of 9,592,635.22 RMB[82]. - The company has recognized a provision for expected liabilities amounting to 7,963,985.85 RMB related to ongoing lawsuits[82].

Financial Performance - The company's operating revenue for 2019 was CNY 4,297,028,434.35, a decrease of 4.66% compared to CNY 4,506,991,026.46 in 2018[21] - The net profit attributable to shareholders for 2019 was CNY 35,365,490.81, a significant recovery from a loss of CNY 70,173,837.75 in 2018[21] - The net cash flow from operating activities increased by 381.60% to CNY 417,024,861.78 from CNY 86,590,920.27 in the previous year[21] - The total assets of the company at the end of 2019 were CNY 3,862,597,019.07, reflecting a 27.98% increase from CNY 3,018,221,278.29 in 2018[21] - The net assets attributable to shareholders increased by 30.95% to CNY 1,693,045,335.11 from CNY 1,292,877,624.83 in 2018[21] - The basic earnings per share for 2019 was CNY 0.1433, recovering from a loss of CNY 0.2844 in 2018[22] - The weighted average return on equity improved to 2.1850% in 2019, an increase of 7.43 percentage points from -5.2458% in 2018[22] Revenue and Profitability - In 2019, the total operating revenue for Jiangsu Hongye Co., Ltd. was approximately CNY 4.3 billion, with quarterly revenues of CNY 796.86 million, CNY 806.56 million, CNY 1.15 billion, and CNY 1.54 billion respectively[23] - The net profit attributable to shareholders for the year was CNY 44.02 million, with a significant quarterly recovery from a loss of CNY 4.83 million in Q1 to a profit in Q4[23] - The company reported a non-recurring gain of CNY 122.15 million in 2019, primarily from the disposal of non-current assets, which included CNY 139.99 million from land disposal[25][27] - The company reported a significant reduction in non-recurring losses, with a total of CNY 40.56 million in tax impacts from non-recurring items[27] - The company achieved operating revenue of 4.297 billion RMB, a year-on-year decrease of 4.66%[43] - The net profit attributable to the parent company was 35.37 million RMB, marking a turnaround from loss to profit[43] Cash Flow and Assets - The net cash flow from operating activities showed a substantial improvement, ending the year with CNY 584.52 million after a negative cash flow in the first three quarters[23] - The total assets of the company increased from CNY 786.40 million at the beginning of the year to CNY 1.21 billion by year-end, indicating strong growth in financial health[28] - The company's financial expenses decreased by 40.41% to 12,610,889.45 CNY, due to lower financing costs compared to the previous year[67] - The total current assets reached RMB 2,075,272,373.32, up from RMB 1,798,422,684.97 in the previous year, indicating an increase of about 15.4%[193] - The company's cash and cash equivalents decreased to RMB 607,947,728.05 from RMB 638,657,142.83, representing a decline of approximately 4.0%[193] Market and Export Performance - The company exported approximately 48 million USD in toys, showing significant growth compared to the previous year[44] - Exports of rush grass products reached over 13 million USD, an increase of about 14% from 2018, maintaining industry leadership[44] - The company’s cross-border e-commerce platform sales reached 23 million USD, a growth of 108% compared to 2018[46] - The company successfully imported approximately 17.8 million USD worth of chemical materials, demonstrating robust growth despite industry challenges[45] - The company has established trade relationships in over 100 countries and regions, enhancing its competitive edge in the market[37] Strategic Initiatives - The company aims to enhance its competitive edge by expanding into high-value segments of the supply chain, focusing on cultural and investment businesses as complementary to its trade operations[30] - The company plans to leverage its cultural business to support its main trade operations, with a focus on art projects and cultural trade[30] - The company is actively pursuing reforms to improve governance structures and decision-making efficiency[50] - The company is focusing on transforming its business model by extending into upstream and downstream of the supply chain to enhance profitability[89] - The company is exploring potential mergers and acquisitions to enhance its competitive edge, with a focus on acquiring smaller firms in the industry[160] Risk Management - The report includes a risk statement indicating potential risks related to future plans and strategies, advising investors to be cautious[6] - The company has committed to enhancing risk management practices, including improving risk control mechanisms and increasing proactive risk warning management[101] - The company is facing macroeconomic risks due to the global impact of the COVID-19 pandemic, which has led to lowered growth expectations from major financial institutions[99] - The company is implementing strategies to manage currency exchange risks and optimize its import-export business structure[100] - The company is addressing potential order declines and fulfillment risks exacerbated by the COVID-19 pandemic[100] Governance and Compliance - The company has established a comprehensive corporate governance structure in compliance with relevant laws and regulations, ensuring the protection of shareholders' rights and promoting sustainable development[171] - The audit report confirms that the financial statements fairly reflect the company's financial position as of December 31, 2019, and its operating results for the year[181] - The company has not reported any major deficiencies in internal control during the reporting period[178] - The company has maintained strict control over insider information during the reporting period, ensuring compliance with disclosure requirements[171] - The company has not encountered any non-standard audit opinions during the reporting period, indicating a clean audit status[111] Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 31,581, an increase from 28,777 at the end of the previous month[145] - Jiangsu Suhao Holding Group Co., Ltd. is the largest shareholder, holding 53,820,061 shares with no changes during the reporting period[147] - The company has no significant changes in the controlling shareholder or actual controller during the reporting period[149] - The total pre-tax compensation for the chairman, Wu Tingchang, was 336,600 RMB, while for director Jiang Lin it was 331,700 RMB[156] - The report highlights the importance of performance-based compensation in aligning executive interests with company performance[157] Employee and Management - The total number of employees in the parent company is 204, while the total number of employees in major subsidiaries is 2,360, resulting in a combined total of 2,564 employees[166] - The company has established a competitive remuneration system to attract and retain talent, with a focus on aligning compensation with company development goals[167] - The company has implemented a training system that combines internal and external training to enhance employee skills and support personal and corporate growth[168] - The company has appointed new personnel in key positions, including a new financial officer and board secretary, to strengthen management[164] - The management team emphasized the importance of strategic partnerships to drive growth, aiming to establish at least five new collaborations in 2020[160]

江苏弘业股份有限公司 2020 年第一季度报告 公司代码：600128 公司简称：弘业股份 江苏弘业股份有限公司 2020 年第一季度报告 1 / 31 | 一、重要提示 | | 3 | | --- | --- | --- | | 二、公司基本情况 | | 4 | | 三、重要事项 | | 8 | | 四、附录 | | 11 | 江苏弘业股份有限公司 2020 年第一季度报告 一、 重要提示 3 / 31 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人吴廷昌、主管会计工作负责人叶子驭及会计机构负责人（会计主管人员）沈旭保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 江苏弘业股份有限公司 2020 年第一季度报告 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | - ...

Financial Performance - Operating revenue decreased by 17.49% to CNY 2,757,110,685.23 for the first nine months compared to the same period last year[8] - Net profit attributable to shareholders improved to a loss of CNY -8,649,539.37 from a loss of CNY -40,435,788.33 in the same period last year[8] - The weighted average return on net assets increased by 2.44 percentage points to -0.5613% compared to the same period last year[8] - Basic and diluted earnings per share improved to CNY -0.0351 from CNY -0.1639 in the same period last year[8] - Total operating revenue for Q3 2019 reached ¥1,153,686,523.79, an increase of 10.4% compared to ¥1,045,412,993.70 in Q3 2018[35] - Net profit for Q3 2019 was ¥5,661,912.50, compared to a net loss of ¥9,339,288.95 in the same period of 2018[36] - The company reported a profit margin of approximately 0.49% in Q3 2019, a significant improvement from the negative margin in Q3 2018[36] - Total comprehensive income for Q3 2019 was ¥8,154,342.52, compared to a comprehensive loss of ¥4,364,767.54 in Q3 2018[37] Assets and Liabilities - Total assets increased by 10.66% to CNY 3,339,999,116.11 compared to the end of the previous year[8] - Non-current assets totaled CNY 1,620,329,179.16, up from CNY 1,219,798,593.32, marking a significant increase of 32.8%[28] - Current liabilities decreased to CNY 1,258,917,616.88 from CNY 1,400,899,147.44, a reduction of 10.1%[29] - Total liabilities amounted to CNY 1,478,931,463.72, down from CNY 1,556,259,412.76, indicating a decrease of 5.0%[29] - Cash and cash equivalents decreased by 56.54% to ¥277,578,539.02 from ¥638,657,142.83 due to reduced net financing and increased construction investment[21] - Inventory levels dropped significantly to CNY 2,045,819.36 from CNY 6,709,856.18, a decrease of 69.6%[31] Shareholder Information - Net assets attributable to shareholders rose by 19.04% to CNY 1,539,068,086.01 compared to the end of the previous year[8] - The total number of shareholders reached 33,253 by the end of the reporting period[15] - The top shareholder, Jiangsu Suhao Holding Group Co., Ltd., holds 21.81% of the shares[16] - Shareholders' equity rose to CNY 1,861,067,652.39, compared to CNY 1,461,961,865.53, representing an increase of 27.3%[29] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -167,493,721.38, an improvement from CNY -181,561,985.43 in the same period last year[8] - The company received approximately ¥2.68 billion in cash from sales of goods and services in the first three quarters of 2019, down from ¥3.28 billion in the same period of 2018[43] - The total cash outflow from operating activities in the first three quarters of 2019 was 612,798,136.56 RMB, an increase from 528,092,979.78 RMB in the previous year[46] - The company experienced a net cash outflow from financing activities of -45,432,276.20 RMB in the third quarter of 2019, compared to -32,380,934.78 RMB in the same quarter of 2018[48] Investment and Income - The company reported non-operating income of CNY 4,619,603.24 from the disposal of non-current assets for the first nine months[10] - Investment income increased by 91.79% to ¥32,498,443.33 from ¥16,945,112.07, mainly due to the exclusion of Nanjing Hongshun Footwear from the consolidated financial statements[22] - The company recorded investment income of ¥14,378,232.83 in Q3 2019, an increase from ¥9,363,000.38 in Q3 2018[36] Tax and Charges - The company reported a 48.48% decrease in tax and additional charges to ¥7,247,296.88 from ¥14,066,415.34, as there were no land value-added tax payments this period[22] - The company experienced a decrease in tax expenses, with Q3 2019 tax expenses at -¥175,792.24 compared to -¥635,154.67 in Q3 2018[36] Other Financial Metrics - The company reported a total cash inflow from operating activities of 565,355,326.58 RMB in the first three quarters of 2019, slightly down from 570,000,743.23 RMB in the previous year[46] - The company reported a total of CNY 126,600,409.33 in prepayments, consistent with prior figures[53] - The company did not report any new product developments or market expansion strategies during this quarter[56]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,603,424,161.44, a decrease of 30.16% compared to CNY 2,295,945,645.03 in the same period last year[19] - The net profit attributable to shareholders of the listed company was a loss of CNY 9,519,457.04, an improvement from a loss of CNY 36,691,009.44 in the previous year[19] - The net cash flow from operating activities was a negative CNY 63,553,467.65, which is an improvement compared to a negative CNY 99,191,854.92 in the same period last year[19] - The basic earnings per share for the first half of 2019 was -0.0386 CNY, an improvement from -0.1487 CNY in the same period last year[20] - The weighted average return on net assets increased by 2.10 percentage points to -0.6184% from -2.7173% in the previous year[20] - The net profit for the first half of 2019 was a loss of CNY 15,001,201.45, compared to a loss of CNY 37,145,914.65 in the same period of 2018, indicating an improvement[115] - The total comprehensive income attributable to the parent company for the first half of 2019 was CNY -7,264,954.58, compared to CNY -39,993,275.45 in the same period of 2018[116] - The company's total comprehensive income for the first half of 2019 was CNY 17,273,362.42, compared to CNY -9,886,428.00 in the first half of 2018, reflecting a positive turnaround[119] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,289,058,654.99, an increase of 8.97% from CNY 3,018,221,278.29 at the end of the previous year[19] - The net assets attributable to shareholders of the listed company increased by 18.80% to CNY 1,535,908,011.85 from CNY 1,292,877,624.83 at the end of the previous year[19] - The company's overseas assets amounted to 193,662,354.48 RMB, representing 5.89% of total assets[32] - Total current assets as of June 30, 2019, amounted to approximately CNY 1.67 billion, a decrease of 7.06% from CNY 1.80 billion at the end of 2018[107] - Total current liabilities decreased to approximately CNY 1.21 billion, down 13.63% from CNY 1.40 billion[109] - Total liabilities amounted to CNY 1.43 billion, a decrease of 7.85% from CNY 1.56 billion[109] - The total owner's equity at the end of the period is 1,485,034,634.91 CNY, showing stability in equity position[131] Revenue Streams - The company's main business, trade, accounts for over 90% of total revenue, focusing on export and import activities, including clothing and medical devices[28] - The export business focused on competitive products, with plush toy orders exceeding USD 25 million[41] - The import business saw a 60% year-on-year increase in new developed business imports, totaling USD 7.28 million[42] - The cross-border e-commerce platform achieved sales of over USD 8 million, doubling year-on-year[44] - Revenue from the import and export business was ¥868,657,313.81, a decrease of 29.74% year-on-year, while domestic sales revenue was ¥622,945,620.70, down 33.89%[53] Investment and Financing - The company actively pursued a non-public stock issuance to fund the transformation projects of the cross-border e-commerce platform and the Myanmar production base[45] - The company reported an investment income of CNY 18,120,210.50 for the first half of 2019, significantly up from CNY 7,582,111.69 in the same period of 2018[115] - The company reported a total investment in trading financial assets of approximately ¥93 million, with a fair value change of ¥1 million during the reporting period[59] - The company has ongoing investments in construction projects, with capitalized costs rising to CNY 210.53 million from CNY 171.84 million, an increase of 22.49%[108] Risk Management - The company has outlined potential risks in its future development strategy, which investors should be aware of[5] - The company faces macroeconomic risks, with the IMF lowering global growth forecasts from 3.7% to 3.2% for 2019, indicating a decline in trade growth prospects[65] - The company faces a complex external environment with increased instability and uncertainty, impacting global economic growth prospects[66] - Risk management remains a top priority, with efforts to improve risk management systems and enhance proactive risk warning management[67] Legal Matters - The company has no major litigation or arbitration matters reported during the period[75] - The company reported a civil lawsuit against Shandong Shengkong Hongquan with a judgment amount of RMB 3.8263 million and overdue penalty interest, with the court ruling that Shengkong must pay the company[76] - The company has recognized a special bad debt provision of RMB 1.108 million related to a civil lawsuit against Nanjing Bode Garment Co., Ltd., which is still pending judgment[76] - A civil lawsuit against Jiangsu Huatai Shipbuilding Co., Ltd. resulted in a special bad debt provision of RMB 1.3 million, with a mediation agreement reached[77] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,241[99] - The largest shareholder, Jiangsu Suhao Holding Group Co., Ltd., held 53,820,061 shares, representing 21.81% of the total shares[99] - The second-largest shareholder, Aitao Cultural Group Co., Ltd., held 9,928,410 shares, accounting for 4.02%[99] - The company reported no changes in total shares and capital structure during the reporting period[97] Accounting Policies - The financial statements prepared by the company comply with the requirements of the accounting standards, reflecting the financial position, operating results, changes in equity, and cash flows accurately[144] - The company applies specific accounting policies for bad debt provisions, depreciation of fixed assets, amortization of intangible assets, and revenue recognition based on its operational characteristics[143] - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[149] - The company assesses expected credit losses based on all reasonable and supportable information, including forward-looking information[166] Operational Developments - The company has established a strong customer base, successfully integrating into the supply chains of major retailers like Walmart and Costco, maintaining a competitive edge in the foreign trade market[34] - The company has set up a garment production base in Myanmar to enhance its supply chain capabilities and address industry shortcomings[35] - The company is actively expanding its cross-border e-commerce business to capture opportunities in the U.S. internet retail market[35] - The company continues to optimize its import and export structure while focusing on its core business[27]

Financial Performance - Operating revenue decreased by 35.07% to CNY 796,863,378.86 compared to the same period last year[13] - Net profit attributable to shareholders was a loss of CNY 4,834,385.65, compared to a loss of CNY 18,837,449.94 in the same period last year[13] - Basic and diluted earnings per share were both CNY -0.0196, compared to CNY -0.0763 in the same period last year[13] - The company reported a significant increase in other income, reaching CNY 16,622,006.76, up 4798.91% from CNY 339,300.00[23] - The fair value change income is CNY 3,435,194.03, a 124.42% increase compared to CNY 1,530,699.70 in the previous year[23] - Total operating revenue for Q1 2019 was ¥796,863,378.86, a decrease of 35.1% compared to ¥1,227,294,850.35 in Q1 2018[40] - Net profit for Q1 2019 was a loss of ¥10,077,876.25, an improvement from a loss of ¥22,441,539.05 in Q1 2018[41] - The company reported a gross profit margin of 10.2% in Q1 2019, compared to a negative margin in Q1 2018[40] - Total comprehensive income for Q1 2019 was a loss of ¥8,014,307.02, compared to a loss of ¥26,220,785.08 in Q1 2018[41] Assets and Liabilities - Total assets increased by 10.41% to CNY 3,332,378,595.06 compared to the end of the previous year[13] - The total assets at the end of the reporting period amount to CNY 1,717,497,188.77, down from CNY 1,798,422,684.97 at the end of the previous year[30] - Current liabilities decreased to CNY 1,237,879,490.00 from CNY 1,400,899,147.44, a reduction of about 11.6%[31] - Non-current liabilities increased to CNY 234,074,717.33 from CNY 155,360,265.32, reflecting an increase of approximately 50.7%[32] - Total liabilities decreased to CNY 1,471,954,207.33 from CNY 1,556,259,412.76, a decrease of about 5.4%[32] - Total current assets increased by 101,299,687.69 to 594,192,004.19 as of January 1, 2019, compared to December 31, 2018[57] - Total non-current assets decreased by 85,987,165.29 to 1,369,494,668.61 as of January 1, 2019, compared to December 31, 2018[57] Shareholder Information - The total number of shareholders was 38,073 at the end of the reporting period[18] - The top shareholder, Jiangsu Suhao Holding Group Co., Ltd., held 53,820,061 shares, accounting for 21.81% of the total shares[18] - Owner's equity rose to CNY 1,860,424,387.73 from CNY 1,461,961,865.53, marking an increase of about 27.3%[32] - Shareholders' equity rose from CNY 1,461,961,865.53 to CNY 1,868,438,694.75, an increase of CNY 406,476,829.22[55] Cash Flow - The net cash flow from operating activities is CNY -9,706,336.78, an improvement from CNY -146,009,737.20 in the previous year[23] - In Q1 2019, the cash inflow from operating activities was CNY 1,034,322,189.46, a decrease of 20% compared to CNY 1,292,908,129.88 in Q1 2018[47] - The cash inflow from financing activities was CNY 70,203,952.53, down 43% from CNY 122,956,577.79 in Q1 2018[48] - The total cash and cash equivalents at the end of Q1 2019 were CNY 466,358,941.09, compared to CNY 371,856,497.77 at the end of Q1 2018, reflecting a 25.4% increase[48] Operational Efficiency - The weighted average return on net assets improved by 1.0662 percentage points to -0.3136%[13] - The company achieved an operating profit of ¥6,999,967.92 in Q1 2019, compared to an operating loss of ¥21,385,157.40 in Q1 2018[40] - The company reported a significant reduction in sales expenses, totaling ¥54,356,923.29 in Q1 2019, compared to ¥57,274,762.20 in Q1 2018[40] Government Support and Regulations - The company received government subsidies amounting to CNY 16,622,006.76 related to property demolition compensation[15] - The company is currently undergoing a non-public issuance of A-shares, which is still under review by the China Securities Regulatory Commission, introducing uncertainty regarding approval[24] - The company executed new financial instrument standards, resulting in a complete write-off of certain financial assets and liabilities, including a CNY 139,634,624.01 decrease in available-for-sale financial assets[22] - The company did not apply retrospective adjustments for the new financial instrument and lease standards[60]

Financial Performance - Jiangsu Hongye Co., Ltd. reported a net profit attributable to shareholders of -70,173,837.75 yuan for 2018, a decrease of 672.19% compared to the previous year's profit of 12,264,019.48 yuan [5]. - The company's operating revenue for 2018 was 4,506,991,026.46 yuan, representing a year-on-year increase of 9.90% from 4,101,082,096.98 yuan in 2017 [21]. - Basic earnings per share for 2018 were -0.2844 yuan, a decline of 672.23% compared to 0.0497 yuan in 2017 [22]. - The company's net profit attributable to shareholders was a loss of CNY 70.17 million [53]. - The company reported a net profit attributable to shareholders of the listed company of RMB -29.738 million in Q4 2018, with a total annual revenue of RMB 4.606 billion [26]. - Non-recurring gains and losses for 2018 totaled RMB -10.8795 million, compared to RMB 72.2958 million in 2017 [29]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a year-on-year growth of 15% [163]. - The company reported a net profit margin of 12%, reflecting improved operational efficiency and cost management strategies [161]. Assets and Liabilities - The total assets of the company decreased by 4.97% to 3,018,221,278.29 yuan at the end of 2018, down from 3,175,954,888.99 yuan at the end of 2017 [21]. - The company's net assets attributable to shareholders decreased by 6.08% to 1,292,877,624.83 yuan at the end of 2018, compared to 1,376,515,348.41 yuan at the end of 2017 [21]. - Total assets decreased from CNY 3,175,954,888.99 at the beginning of the year to CNY 3,018,221,278.29 by year-end, reflecting a decline of approximately 4.94% [198]. - Total liabilities decreased from CNY 1,636,652,865.39 to CNY 1,556,259,412.76, representing a decline of approximately 4.91% [198]. - The company's retained earnings decreased from CNY 466,648,781.16 to CNY 384,136,568.41, a decline of approximately 17.66% [199]. Cash Flow - The cash flow from operating activities for 2018 was 86,590,920.27 yuan, a significant improvement from -113,426,949.64 yuan in 2017 [21]. - The net cash flow from operating activities for Q4 2018 was RMB 268.1529 million, showing a significant recovery compared to previous quarters [26]. - The company's cash flow from operating activities turned positive at CNY 86.59 million, compared to a negative cash flow of CNY 113.43 million in the previous year [55]. Business Strategy and Development - The company adjusted its business focus to "trade as the main business + cultural and investment as two characteristic businesses" to enhance competitiveness [34]. - The company aims to expand into high value-added segments of the industrial chain to improve overall competitiveness [34]. - The company is exploring potential partnerships with international firms to enhance its global footprint and diversify its product offerings [162]. - The company plans to optimize its foreign trade business structure and reduce uncertainties by diversifying export markets, particularly in regions like Europe, Japan, and ASEAN [96]. - The company is committed to enhancing its cultural and investment sectors by concentrating resources on specialized business areas [100]. Market Performance - In 2018, the company's clothing exports reached $79.83 million, a year-on-year increase of 60.5%, accounting for 4.7% more of the total export value [47]. - The toy and pet business achieved exports of $53.54 million, growing by 34.2%, and its share of total exports increased by 3.7% [47]. - The glove business saw exports of $26.43 million, with a growth rate of 61.1% [47]. - The company’s revenue from the medical professional market increased significantly, with annual revenue reaching over 35 million yuan, a threefold increase [48]. Risk Management - The company has acknowledged potential risks in its future development and has provided detailed descriptions of these risks in the report [7]. - The company has committed to improving risk management systems and enhancing compliance management to mitigate performance risks due to macroeconomic fluctuations and customer credit status [105]. - The company has acknowledged the increasing market risks due to global economic downturns and trade protectionism, while also recognizing opportunities for growth through international cooperation [104]. Corporate Governance - The company has a governance structure that complies with relevant laws and regulations, ensuring clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management [173]. - The company has implemented strict insider information management practices during the disclosure periods of regular and temporary reports [174]. - The board of directors held a total of 9 meetings during the year, with 1 in-person meeting and 5 conducted via communication methods [178]. Executive Compensation - The total compensation for key executives during the reporting period amounted to 4.53 million RMB [156]. - The chairman, Wu Tingchang, received a total pre-tax compensation of 573,100 RMB [155]. - The general manager, Zhang Ke, received a total pre-tax compensation of 573,300 RMB [155]. Legal Matters - The company is involved in several ongoing lawsuits, with some already adjudicated and in the execution phase [120]. - The company has recognized a contingent liability of CNY 1,238,975.04 due to a court ruling requiring repayment to a plaintiff [123]. - The company has a provision for expected liabilities related to ongoing lawsuits totaling CNY 1,238,975.04 [123].