Financial Performance - The company's operating revenue for the first half of 2022 was CNY 486,642,250.31, representing a 12.00% increase compared to CNY 434,487,129.95 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY -56,202,196.08, showing a decrease from CNY -57,575,601.88 in the previous year[20]. - The net cash flow from operating activities was CNY 666,464,771.71, a significant improvement from CNY -390,821,040.20 in the same period last year[20]. - The basic earnings per share for the first half of 2022 was CNY -0.0586, compared to CNY -0.0344 in the same period last year[20]. - The weighted average return on net assets was -2.24%, a decrease of 1.28 percentage points from -0.96% in the previous year[20]. - Operating costs increased by 24.72% to ¥371,119,462.40 from ¥297,557,809.00, primarily due to the corresponding rise in revenue[61]. - Research and development expenses surged by 149.06% to ¥14,674,491.59 from ¥5,892,035.52, attributed to new R&D projects initiated during the period[61]. - The net profit for the first half of 2022 was a loss of CNY 53,001,179.67, compared to a loss of CNY 37,988,263.10 in the same period of 2021[137]. - The total comprehensive income for the first half of 2022 was a loss of ¥17.05 million, compared to a gain of ¥24.17 million in the first half of 2021, reflecting a decrease of approximately 170%[144]. Assets and Liabilities - Total assets increased by 14.05% to CNY 6,360,057,427.71 from CNY 5,576,335,512.40 at the end of the previous year[20]. - The company's net assets attributable to shareholders decreased by 2.90% to CNY 2,461,046,924.21 from CNY 2,534,520,355.50 at the end of the previous year[20]. - Total current assets increased to ¥5,079,854,420.72 from ¥4,269,414,826.00, reflecting a growth of around 18.9%[117]. - Total liabilities reached ¥2,884,161,309.16, up from ¥2,036,057,123.54, reflecting an increase of around 42%[123]. - Contract liabilities surged to ¥1,217,184,789.16 from ¥433,850,074.84, marking a significant increase of around 180%[123]. - The company's cash and cash equivalents increased by 37.62% to ¥2,613,200,800.76 from ¥1,898,797,451.11, mainly due to increased cash received from real estate transactions[68]. Market Position and Strategy - The company is positioned in the sports industry, benefiting from increasing governmental support and policies aimed at enhancing the sports sector[26]. - Major sports events like the Beijing Winter Olympics have positively impacted the overall development of the sports industry, although some upcoming events have been postponed[26]. - The company has outlined future strategies to leverage policy support and enhance its market presence in the sports industry[26]. - The company is focusing on the development of the sports industry in line with national strategies such as "Healthy China" and "Sports Power," aiming to become a leader in high-quality development within the sector[27]. - The company has established a comprehensive operational service for national and regional brand events, enhancing event management and safety systems to support high-quality industry development[27]. - The company is actively expanding its offline sports space platforms, creating urban sports complexes and parks, with a leading operational area in the industry[31]. - The online digital technology platform is a key implementation force for the national sports information development plan, serving various core areas including smart sports events and data operations[32]. Challenges and Risks - The company faced challenges in event activities due to the pandemic, with several key events being postponed or canceled, impacting overall business performance[42]. - The company anticipates risks from ongoing pandemic impacts, including event cancellations and operational uncertainties[56]. - The company is adapting to increased regulatory scrutiny in sports event management, which may lead to longer approval cycles and higher operational costs[58]. - The company faced significant challenges in its certification business due to pandemic-related restrictions, but adapted by implementing remote audits and expanding service areas[52]. Investments and Acquisitions - The company secured contracts for international sports training and design consulting projects, broadening its revenue growth avenues[53]. - The company is exploring new business models for foreign aid projects, including remote technical assistance for Mauritania[55]. - The company made equity investments totaling ¥33.32 million during the reporting period, a decrease of 1.94% compared to the previous year[68]. - The company established new subsidiaries to expand its operational scale, contributing a profit of ¥257.08 million from Zhongti Sports Industry Development (Zhanjiang) Co., Ltd.[73]. Corporate Governance and Compliance - The company has committed to avoid and minimize related party transactions, ensuring that any unavoidable transactions are conducted at fair and reasonable prices[86]. - The company has been actively pursuing a major asset restructuring plan, with multiple announcements and updates provided to the market regarding the progress and regulatory approvals received[86]. - The company is focused on maintaining transparency and compliance with regulatory requirements throughout the restructuring process[86]. - The company has committed to resolving any potential competition issues arising from the restructuring, ensuring that it does not adversely affect the interests of minority shareholders[86]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 89,270[107]. - The largest shareholder, the State Sports General Administration Sports Fund Management, held 19.49% of the shares, totaling 187,043,989 shares[107]. - The net profit commitment for Guotai Certification and Huazheng Certification for 2022 was not met in the first half of the year, indicating potential challenges in achieving future performance targets[99]. Financial Reporting and Accounting - The financial statements prepared by the company comply with the requirements of enterprise accounting standards, reflecting the financial position, operating results, changes in shareholders' equity, and cash flows accurately[175]. - The company's accounting period runs from January 1 to December 31 each year, with a normal operating cycle defined as the period from asset acquisition to cash realization[176]. - The company applies specific accounting treatments for mergers under common control and non-common control, with the latter recognizing goodwill when the purchase cost exceeds the fair value of identifiable net assets acquired[178].

Financial Performance - The company's operating revenue for 2021 was CNY 1,515,063,184.46, a decrease of 24.11% compared to CNY 1,996,330,289.54 in 2020[24] - The net profit attributable to shareholders of the listed company was CNY 54,919,724.37, representing a slight increase of 1.79% from CNY 53,955,983.11 in the previous year[24] - The net cash flow from operating activities was negative at CNY -234,638,517.08, a decline of 301.05% compared to CNY 116,707,458.68 in 2020[24] - The total assets at the end of 2021 were CNY 5,576,335,512.40, an increase of 4.35% from CNY 5,343,922,844.50 in 2020[24] - The basic earnings per share for 2021 were CNY 0.0572, down 7.59% from CNY 0.0619 in 2020[27] - The weighted average return on net assets was 2.19% for 2021, showing a slight increase of 0.02 percentage points from 2.17% in 2020[27] - The company declared a cash dividend of CNY 0.18 per 10 shares, totaling CNY 17,271,235.21 distributed to shareholders[6] - The net assets attributable to shareholders of the listed company at the end of 2021 were CNY 2,534,520,355.50, reflecting a 1.54% increase from CNY 2,496,061,607.65 in 2020[24] - The company reported a decrease of 60.23% in net profit after deducting non-recurring gains and losses, amounting to CNY 41,570,000.63 compared to CNY 104,538,894.12 in 2020[24] Quarterly Performance - In Q1 2021, the company reported a revenue of ¥181,543,965.64, which increased to ¥808,281,951.79 by Q4 2021, showing a significant growth trend[28] - The net profit attributable to shareholders was negative in Q1 2021 at -¥53,734,688.01, but turned positive to ¥85,110,814.33 by Q4 2021, indicating a recovery in profitability[28] - The net cash flow from operating activities improved from -¥289,840,299.48 in Q1 2021 to ¥196,873,700.43 in Q4 2021, reflecting better cash management[28] Business Development - The company has established a new business layout focusing on sports events, sports media, and sports education, aiming to enhance its market position[36] - The company secured exclusive operational rights for major events, including the Beijing Marathon and the Chengdu Universiade, indicating successful market expansion[36] - The company is actively developing its sports training and education business, with its vocational college included in the "14th Five-Year" development plan[41] - The company is optimizing its technology resources in the sports lottery sector, focusing on system integration and expanding new channels[42] - The company aims to become a leader in high-quality development within the sports industry, aligning with national strategies such as "Healthy China" and "Sports Power" initiatives[36] Event Management - The company achieved growth in both domestic and international printing volumes, maintaining stable delivery volumes despite a decline in demand for thermal tickets[44] - The company successfully expanded its sports space coverage by signing 11 quality projects, including Beijing Yifangyuan Sports Health City and Guangdong Zhanjiang Olympic Center[45] - The company hosted over 200 events during the reporting period, including more than 20 national-level events, while also completing over 30 design consulting projects[45] - The company developed an integrated intelligent supervision platform for event activities and launched the community sports service guarantee platform, enhancing its digital capabilities[46] Financial Management - The company issued over 6,600 various certification documents during the reporting period, reflecting its strong performance in standardization services[48] - The company completed significant international projects, including technical assistance for sports facilities in Uganda and Niger, despite ongoing global pandemic challenges[49] - The company plans to enhance its event IP development and improve product and brand value in 2022, focusing on sustainable profit growth[53] - The company aims to accelerate the construction of a sports big data platform and the operation of sports data assets in its digital technology business[53] Risks and Opportunities - The company faces risks related to ongoing pandemic uncertainties, which may impact the scheduling of large-scale events and international business operations[54][55] - The company is positioned to benefit from supportive national policies and the hosting of major sports events, which are expected to drive overall industry growth[60] Business Segments - The company focuses on various business segments including event activities, sports communication, education and training, and digital technology platforms[64] - The company aims to enhance its brand value and service quality through high-level sports content and service systems in event activities[64] - The online digital technology platform will focus on the development of sports big data and digital marketing strategies to improve profitability[65] - The company has established a national layout in event activities, sports communication, education training, and other business areas[70] Governance and Compliance - The company has implemented strict governance measures in compliance with relevant laws and regulations to enhance operational quality and protect shareholder rights[110] - The company aims to strengthen its market position through strategic investments and partnerships in the sports industry[108] - The company has improved its internal control system to enhance operational management and risk prevention capabilities, ensuring compliance and asset safety[111] - The company strictly adhered to information disclosure regulations, ensuring timely and accurate reporting without any regulatory penalties for violations[114] Management and Compensation - The total compensation for the board of directors and senior management during the reporting period amounted to CNY 10.56 million[123] - The company has a total of 15 directors and supervisors, with a significant portion receiving compensation from related parties[123] - The chairman, Wang Weidong, received CNY 714,000 in compensation, while the president, Dan Tie, received CNY 557,500[123] - The total number of shares held by the board members at the end of the reporting period was not disclosed, indicating potential changes in shareholding[123] Social Responsibility - The company donated 350,000 yuan to support poverty alleviation efforts in Shanxi and Guizhou provinces during the reporting period[161] - The company is committed to supporting national poverty alleviation and rural revitalization initiatives as part of its social responsibility efforts[161] Restructuring and Transactions - The company announced the completion of a major asset restructuring transaction, with the approval from the China Securities Regulatory Commission (CSRC) on April 30, 2020[168] - The restructuring involved the issuance of shares and cash payment for asset acquisition, with the completion of asset transfer announced on June 18, 2020[168] - The company committed to avoiding unfair competition and conflicts of interest post-restructuring, ensuring fair treatment for minority shareholders[170] - The company will maintain a lock-up period of 36 months for newly issued shares following the transaction, with potential extensions based on stock performance[170]

Financial Performance - The company's operating revenue for Q1 2022 was CNY 205,076,815.50, representing a year-on-year increase of 12.96%[5] - The net profit attributable to shareholders of the listed company was a loss of CNY 52,538,058.55, with a basic and diluted earnings per share of -0.0548 yuan[5] - Total operating revenue for Q1 2022 was RMB 205,076,815.50, an increase of 12.93% compared to RMB 181,543,965.64 in Q1 2021[32] - Net profit for Q1 2022 was a loss of RMB 56,263,624.33, compared to a loss of RMB 86,511,246.19 in Q1 2021, representing a 34.93% improvement[35] - The total comprehensive income attributable to the parent company's shareholders for Q1 2022 was RMB -52,538,058.55, an improvement from RMB -53,734,688.01 in Q1 2021[37] - Operating profit for Q1 2022 was -8,362,101.30 RMB, compared to -6,473,312.12 RMB in Q1 2021, indicating a decline in profitability[51] - The net profit for Q1 2022 was -8,362,099.64 RMB, worsening from -6,353,312.12 RMB in the same period last year[51] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,861,312,004.32, an increase of 5.11% compared to the end of the previous year[7] - The company's total current assets amounted to approximately CNY 4.56 billion, an increase from CNY 4.27 billion as of December 31, 2021, representing a growth of about 6.8%[24] - The company's total assets reached CNY 5.86 billion, up from CNY 5.58 billion, which is an increase of about 5%[26] - Total liabilities rose to CNY 2.37 billion, compared to CNY 2.04 billion in the previous period, marking an increase of approximately 16.5%[30] - The total current liabilities increased to CNY 1.72 billion from CNY 1.44 billion, representing a growth of approximately 19.4%[30] - The company's long-term borrowings increased to CNY 564.39 million from CNY 507.06 million, reflecting an increase of about 11.3%[30] - The total liabilities and equity increased to RMB 5,861,312,004.32 from RMB 5,576,335,512.40, reflecting a growth of 5.10%[32] Cash Flow - The cash flow from operating activities was CNY 158,853,004.85, with significant changes in various financial metrics including a 47.03% increase in advance receipts[9] - Cash flow from operating activities increased significantly to RMB 752,594,613.53 from RMB 270,734,933.67, marking a growth of 177.73% year-over-year[36] - The net cash flow from operating activities was $158.85 million, a significant improvement from a negative cash flow of $289.84 million in the previous period[39] - Cash inflow from financing activities amounted to $85.28 million, down from $162.81 million in the previous period[39] - Cash outflow from investing activities was $13.60 million, a decrease from $24.40 million in the previous period[39] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 89,820[13] - The largest shareholder, the State Sports General Administration Sports Fund Management Center, holds 19.49% of the shares[13] Research and Development - Research and development expenses decreased by 84.56% due to changes in expense aggregation criteria[9] - Research and development expenses for Q1 2022 were RMB 4,428,492.78, a significant decrease of 84.54% compared to RMB 28,685,431.94 in Q1 2021[32] Other Financial Metrics - Other income increased by 463.47% primarily due to an increase in operating subsidies received[9] - The company reported a 100% decrease in fair value gains due to the redemption of all trading financial assets during the period[9] - The company reported a financial income of RMB 6,379,012.55 in Q1 2022, down from RMB 7,321,764.94 in Q1 2021[32] - The company experienced a loss in investment income of RMB 7,996,832.98 in Q1 2022, compared to a loss of RMB 5,457,948.07 in Q1 2021[35] - The company reported a financial income of 497,781.51 RMB in Q1 2022, down from 1,518,794.36 RMB in Q1 2021[50] - The company incurred a credit impairment loss of 207,575.97 RMB in Q1 2022, compared to a gain of -19,905.69 RMB in Q1 2021[50]

Financial Performance - The company's operating revenue for Q3 2021 was ¥272,294,102.72, representing a year-on-year increase of 0.78%[7] - The net profit attributable to shareholders was ¥2,838,405.48, a decrease of 56.59% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,075,158.24, down 61.58% year-on-year[7] - The basic earnings per share were ¥0.0030, a decrease of 61.83% year-on-year[10] - Net profit for the third quarter of 2021 was a loss of ¥32,141,908.41, compared to a profit of ¥49,452,300.42 in the same quarter of 2020[35] - Total operating revenue for the first three quarters of 2021 was ¥706,781,232.67, down 33.7% from ¥1,065,289,695.37 in the same period of 2020[32] - Total operating costs for the first three quarters of 2021 were ¥713,564,971.95, a decrease of 30.0% compared to ¥1,020,016,013.11 in 2020[32] - The total comprehensive income attributable to the parent company was -30,191,089.96 CNY, compared to 12,632,928.82 CNY in the previous period[38] - Basic earnings per share decreased to -0.0315 CNY from 0.0150 CNY year-over-year[38] Cash Flow and Liquidity - The net cash flow from operating activities was -¥40,691,177.31, a decline of 112.83% compared to the previous year[10] - Cash flow from operating activities showed a net outflow of -431,512,217.51 CNY, a significant decline from a net inflow of 33,626,371.20 CNY in the previous year[41] - Cash inflow from operating activities totaled 1,032,255,902.09 CNY, down from 1,242,477,292.42 CNY year-over-year[41] - Cash outflow for operating activities increased to 1,463,768,119.60 CNY from 1,208,850,921.22 CNY in the previous period[41] - The ending balance of cash and cash equivalents was 1,685,704,758.25 CNY, down from 1,855,195,524.57 CNY year-over-year[43] - The company received 826,587,004.98 CNY from sales of goods and services, a decrease from 1,011,593,287.14 CNY in the previous year[41] - The company reported a decrease in tax refunds received to 4,453,128.37 CNY from 10,940,084.33 CNY year-over-year[41] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,388,834,416.49, an increase of 0.84% from the end of the previous year[10] - The company's total equity attributable to shareholders was ¥2,448,847,003.17, down 1.89% from the previous year[10] - Total assets increased to ¥5,388,834,416.49 from ¥5,343,922,844.50 year-over-year[29] - Non-current liabilities totaled ¥547,356,499.31, up from ¥309,284,710.00 in the previous year[29] - The company's total equity decreased to ¥3,419,333,616.26 from ¥3,476,858,868.90 year-over-year[29] - Total liabilities were $1,867,063,975.60, down by $13,296,104.87 from the previous period[52] - Current liabilities reached $1,557,779,265.60, with no change reported[52] Investments and Expenses - The company reported a significant decrease in R&D expenses by 86.98% year-on-year[13] - Research and development expenses for the first three quarters of 2021 were ¥10,189,517.03, significantly lower than ¥78,282,550.62 in the same period of 2020[32] - The company experienced a 33.65% decrease in operating income due to reduced lottery-related income and real estate sales[13] - The company reported a significant increase in contract liabilities to ¥448,614,272.10 from ¥394,930,372.85 year-over-year[29] Shareholder Information - The company reported a total of 70,420 common shareholders at the end of the reporting period[17] - The largest shareholder, the General Administration of Sport of China, holds 19.49% of the shares, totaling 187,043,989 shares[17] Borrowings and Financing - The company increased long-term borrowings by 74.94% during the reporting period[13] - The company’s long-term borrowings increased to ¥496,829,711.93 from ¥283,999,325.32 year-over-year[29] - Financing activities generated a net cash inflow of 153,711,316.95 CNY, contrasting with a net outflow of -23,922,228.01 CNY in the previous period[43]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥434.49 million, a decrease of 45.35% compared to the same period last year[23]. - The net profit attributable to shareholders of the listed company was approximately -¥33.03 million, representing a decline of 641.93% year-on-year[23]. - The net cash flow from operating activities was -¥390.82 million, indicating a significant cash outflow[23]. - The total assets at the end of the reporting period were approximately ¥5.31 billion, a decrease of 0.59% from the previous year[23]. - The net assets attributable to shareholders of the listed company were approximately ¥2.45 billion, down 2.01% compared to the end of the previous year[23]. - The basic earnings per share for the first half of 2021 was -¥0.0344, a decrease of 577.78% year-on-year[24]. - The overall operating revenue from domestic markets decreased by 46.32% to ¥422.85 million, with no revenue reported from overseas markets[65]. - The company reported a significant increase in cash received from tax refunds, up 696.84% to ¥4.45 million compared to ¥0.56 million last year[61]. - The company reported a total of ¥1,800,000.00 in capital contributions from shareholders during the period[184]. - The total comprehensive income amounted to ¥24,172,119.44, a decrease of ¥6,455,248.89 compared to the previous period[169]. Business Strategy and Development - The company anticipates that the sports industry will reach a total scale of ¥5 trillion by 2025, driven by favorable policies and events like the 2022 Beijing Winter Olympics[29]. - The company is focusing on leveraging new technologies such as 5G, artificial intelligence, and big data to empower the sports industry[29]. - The company has implemented the "Sailing·Striving" action plan (2021-2023) since April 2021, focusing on organizational restructuring and core business optimization to support future transformation[33]. - The company aims to enhance its core business areas, including event activities, sports communication, education and training, and digital technology platforms, to drive high-quality development in the sports industry[33]. - The company is adapting its training business to innovate online learning scenarios and sales channels in response to the pandemic[30]. - The company is focusing on sports vocational education and training, aligning with national policies to develop marketable IP projects in the sports education sector[51]. Market Position and Competitiveness - The company is the only A-share listed company under the National Sports Administration, leveraging its extensive resources and stable relationships with various sports organizations[38]. - The company has developed strong IP events such as the Beijing Marathon and Guangzhou Marathon, enhancing its brand value and market recognition[41]. - The company has established a national layout in event activities, sports communication, education and training, and other business areas, optimizing resource allocation and integration[40]. - The company has a robust talent pool, cultivating high-quality professionals in various fields to support sustainable development[42]. - The company has established a strong market competitiveness in the lottery core technology field, supported by thousands of national, industry, and local standards, along with high international recognition certifications[43]. Financial Management and Investments - The company made equity investments totaling 33.98 million yuan during the reporting period, an increase of 28.42 million yuan, or 511.00%, compared to the same period last year[72]. - The company signed strategic cooperation agreements with various sports authorities to enhance collaboration in winter sports and sports talent training, aiming to create national-level brand IP events[46]. - The company has developed a comprehensive lottery service chain, with stable growth in instant ticket printing and software system operations, while facing a decline in thermal ticket printing due to policy adjustments[52]. - The company has hosted over 10 international and domestic events and nearly 30 provincial-level events, while also repurposing venues for public health needs during the pandemic[53]. - The company is advancing its digital sports venue management platform, with ongoing development of subsequent phases and strategic partnerships for community sports services[55]. Compliance and Governance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for this reporting period[6]. - The company is expanding its risk management framework to ensure compliance and stability in its operations, particularly in the lottery and sports event sectors[52]. - The company is committed to compliance with industry regulations and licensing requirements[198]. - The company has a commitment to avoid any competition with its main business after the completion of the major asset restructuring, ensuring no unfair influence on the company's development[99]. Social Responsibility - The company donated 350,000 yuan to support poverty alleviation efforts in Shanxi Province and Guizhou Province during the reporting period[89]. - The company is preparing to conduct targeted poverty alleviation activities based on the specific needs of three counties[89]. Shareholder Structure and Equity - The total number of ordinary shareholders reached 75,866 by the end of the reporting period[133]. - The top ten shareholders hold a combined total of 187,043,989 shares, representing 19.49% of the total shares[133]. - The company issued a total of 331,703,185 shares for fundraising purposes, with a lock-up period of 12 months from the date of listing[132]. - The largest shareholder, Huati Group Co., Ltd., holds 187,043,989 shares, with 9,500,000 shares pledged[133]. - The company has 186,239,981 shares under lock-up conditions, which will become tradable 18 months after the listing date[137].

Financial Performance - Operating revenue for the first quarter was approximately ¥181.54 million, representing an increase of 46.98% year-on-year[13]. - Net profit attributable to shareholders was approximately -¥53.73 million, showing a decline compared to -¥30.83 million in the same period last year[13]. - Cash flow from operating activities was approximately -¥289.84 million, indicating a significant decrease compared to -¥120.95 million in the previous year[13]. - Basic and diluted earnings per share were both -¥0.0560, reflecting a decline from -¥0.0365 in the same period last year[13]. - The company reported a gross profit margin of approximately -43.9% for Q1 2021, compared to -22.5% in Q1 2020[47]. - Net loss for Q1 2021 was RMB 86,511,246.19, slightly improved from a net loss of RMB 87,021,174.05 in Q1 2020[50]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥5.26 billion, a decrease of 1.52% compared to the end of the previous year[13]. - The total number of shareholders at the end of the reporting period was 77,297[16]. - Total assets decreased from $5,343,922,844.50 to $5,262,446,634.68, a decline of approximately 1.5%[34]. - Current liabilities decreased from $1,557,779,265.60 to $1,372,265,325.70, a reduction of about 11.9%[34]. - Non-current liabilities increased from $309,284,710.00 to $499,633,398.32, an increase of approximately 61.5%[34]. - Total equity decreased from $3,476,858,868.90 to $3,390,547,910.66, a decline of about 2.5%[34]. Cash Flow - The net cash flow from operating activities was -¥289,840,299.48, showing a significant decline from -¥235,627,727.17 in the previous period[22]. - Cash flow from financing activities surged by 1413.15% to ¥112,159,004.82, reflecting increased borrowings and investments received[24]. - Cash inflow from operating activities for Q1 2021 was CNY 270,734,933.67, an increase of 6.4% compared to CNY 254,810,341.26 in Q1 2020[60]. - Cash outflow from operating activities for Q1 2021 was CNY 560,575,233.15, up from CNY 490,438,068.43 in Q1 2020, resulting in a net cash flow from operating activities of -CNY 289,840,299.48[60]. Shareholder Information - The largest shareholder, the State Sports General Administration Sports Fund Management Center, held 19.49% of the shares[16]. - The company’s equity attributable to shareholders totaled RMB 2,496,061,607.65, a decrease of RMB 711,792.38 compared to the previous period[77]. Expenses - The company experienced a significant increase in management expenses, which rose to RMB 56,162,185.06 from RMB 46,648,763.30 in the previous year[47]. - The company’s sales expenses decreased by 44.16% to ¥17,884,228.84 from ¥32,029,899.82, primarily due to reduced labor costs[22]. Investment and Financing - Long-term borrowings increased by 57.01% to ¥445,909,325.32 from ¥283,999,325.32, indicating a strategy to leverage for growth[22]. - The company’s investment income turned negative at -¥5,457,948.07, a decline of 156.13% from ¥9,723,774.74, mainly due to reduced investment returns from associates[22]. Government Support - Government subsidies recognized in the current period, closely related to normal business operations, totaled approximately ¥59,900.00[13]. Research and Development - Research and development expenses for Q1 2021 amounted to RMB 28,685,431.94, an increase of 24.0% from RMB 22,975,335.78 in Q1 2020[47]. - Deferred income rose significantly by 1483.23% to ¥798,662.14, attributed to research and development grants received[22].

Financial Performance - Net profit attributable to shareholders was CNY 12,632,928.82, a significant recovery from a loss of CNY 31,120,571.84 in the same period last year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 68,115,147.46, a substantial increase of 743.01% year-on-year[18]. - Basic and diluted earnings per share were both CNY 0.0150, recovering from a loss of CNY 0.0369 in the same period last year[18]. - The company's net profit for Q3 2020 was 13,491,832.58, a decrease from 46,813,562.12 in Q3 2019, representing a decline of approximately 71.2%[67]. - The total profit for Q3 2020 was 13,491,832.58, compared to 46,813,562.12 in the same period last year, reflecting a decline of approximately 71.2%[67]. - The company's operating profit for Q3 2020 was 13,591,832.58, down from 46,813,562.10 in Q3 2019, a decrease of around 70.0%[67]. - The basic earnings per share for Q3 2020 was 0.0078, compared to 0.0686 in Q3 2019, a decline of approximately 88.6%[64]. - The company reported a total of CNY 1,137,531.88 in non-recurring gains for the reporting period, contrasting with a loss of CNY 55,482,218.64 in the previous year[22]. Cash Flow - The net cash flow from operating activities was CNY 33,626,371.20, a turnaround from a negative cash flow of CNY 52,097,492.59 in the previous year[18]. - Cash flow from operating activities generated a net amount of ¥33,626,371.20, recovering from a net loss of ¥52,097,492.59 in the same period last year[73]. - Cash inflow from operating activities totaled ¥1,242,477,292.42, down from ¥1,628,622,126.74 year-over-year, indicating a decrease of approximately 23.7%[73]. - Cash outflow for operating activities was ¥1,208,850,921.22, compared to ¥1,680,719,619.33 in the previous year, reflecting a reduction of about 28.0%[73]. - Operating cash flow for the first three quarters of 2020 was negative at -70,867,966.52 RMB, compared to -144,287.82 RMB in the same period of 2019, indicating a significant decline in cash generation[79]. - Total cash inflow from operating activities was 11,110,277.57 RMB, down 89.9% from 110,286,724.42 RMB in the previous year[79]. - Cash outflow from operating activities totaled 81,978,244.09 RMB, a decrease of 25.7% compared to 110,431,012.24 RMB in 2019[79]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,444,136,229.80, a decrease of 3.68% compared to the end of the previous year[18]. - The total liabilities as of September 30, 2020, were RMB 2,569,914,785.21, compared to RMB 2,766,933,581.74 at the end of 2019[45]. - The total equity attributable to shareholders as of September 30, 2020, was RMB 1,932,311,368.10, a slight decrease from RMB 1,963,892,022.30 at the end of 2019[45]. - The company's total liabilities increased to CNY 707,557,477.07 from CNY 215,695,003.04, marking a substantial rise of approximately 228.5%[52]. - Current liabilities totaled 2,537,677,887.97 RMB, remaining stable compared to the previous year[88]. - The company’s total liabilities remained stable at 2,537,677,887.97 RMB, indicating a consistent financial structure[88]. - The total assets of the company stood at 5,651,848,479.05 RMB, unchanged from the previous year[88]. Investments and Acquisitions - The company completed the acquisition of 51% of Zhongti Cai Technology and 62% of Guoti Certification, among others, through a combination of cash and stock transactions[18]. - The company completed a significant asset acquisition and capital raising transaction approved by the China Securities Regulatory Commission in 2020[37]. - Long-term equity investments surged to CNY 1,267,260,018.57, up from CNY 613,211,929.45, indicating a significant increase of approximately 106.7%[49]. - The company reported a long-term investment of RMB 290,333,988.71 as of September 30, 2020, compared to RMB 282,068,738.94 at the end of 2019[43]. Shareholder Information - The total number of shareholders at the end of the reporting period was 78,945, with the largest shareholder holding 20.46% of the shares[23]. - Shareholders' equity reached approximately ¥2.88 billion, with total equity attributable to the parent company at about ¥1.96 billion[91]. Tax and Expenses - The company reported a 255.03% increase in income tax expenses to ¥22,219,109.93 from ¥6,258,361.82, reflecting higher tax provisions[32]. - The company incurred credit impairment losses of -4,831.14 in Q3 2020, compared to -483,829.01 in Q3 2019, showing a significant reduction in losses[67]. - The company reported a tax expense of -7,425,097.38 in Q3 2020, compared to 24,014,086.82 in Q3 2019, indicating a significant reduction in tax liabilities[67].

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥795.09 million, representing a 41.30% increase compared to ¥562.70 million in the same period last year[22]. - The net profit attributable to shareholders was approximately ¥6.09 million, a significant recovery from a loss of ¥88.99 million in the previous year[22]. - The basic earnings per share for the first half of 2020 was ¥0.0072, compared to a loss of ¥0.1055 in the same period last year[23]. - The company reported a total comprehensive income for the first half of 2020 was RMB 35,366,922.20, compared to a total comprehensive loss of RMB 204,006,700.33 in the same period last year[172]. - The company reported a significant increase in investment income cash received, totaling ¥11,337,202.81, up 244.47% from ¥3,291,157.89 last year[75]. - The company reported a profit contribution of ¥1,896.58 million from Zhongcai Technology Development Co., Ltd.[89]. - The company’s total revenue reached ¥787,682,636.70, representing a year-on-year increase of 41.64%[83]. - The company reported a significant increase in contract liabilities, amounting to approximately ¥605.37 million, indicating new business growth[154]. Cash Flow and Assets - The net cash flow from operating activities was negative at approximately ¥283.48 million, an improvement from negative ¥335.47 million in the same period last year[22]. - The company's cash and cash equivalents decreased significantly due to the redemption of bank financial products, leading to a 63.74% decline in trading financial assets[83]. - The company reported cash and cash equivalents at the end of the period amounting to CNY 1,499,603,532.46, down from CNY 1,667,858,278.69 at the beginning of the period[184]. - The total assets decreased by 5.64% to approximately ¥5.33 billion from ¥5.65 billion at the end of the previous year[22]. - The company's total assets amounted to approximately ¥5.33 billion, a decrease of about 5.62% from ¥5.65 billion on December 31, 2019[150]. - The company's current assets totaled approximately ¥4.20 billion, down from ¥4.44 billion, reflecting a decline of about 5.19%[150]. - The total current assets decreased to ¥793,749,873.87 from ¥853,296,303.19, a decline of approximately 7%[160]. Strategic Initiatives and Market Position - The company completed the acquisition of 51% of Zhongti Cai Technology and 62% of Guotai Certification, along with other related assets, enhancing its market position[23]. - The company has outlined future strategies focusing on market expansion and technological development, although specific numerical targets were not disclosed in the report[6]. - The company aims to enhance its management and operational efficiency, focusing on the integration of sports industry resources and the establishment of a standardized operational system[41]. - The company is committed to developing a digital and intelligent direction in the sports industry to stimulate domestic demand and promote consumption upgrades[36]. - The company is actively developing new business channels, including sports marketing and consulting services, to create new profit opportunities[57]. - The company plans to leverage the opportunities presented by major upcoming events such as the Tokyo Olympics and the Beijing Winter Olympics to enhance its market development and consulting services[70]. Asset Restructuring and Corporate Governance - The company completed a major asset restructuring transaction, with the approval from the China Securities Regulatory Commission on April 30, 2020[99]. - The company has committed to strict adherence to legal procedures in its asset injection plans, ensuring compliance with national regulations[94]. - The company has established performance compensation obligations related to the asset acquisition, which must be fulfilled before any shares can be transferred[103]. - The eighth board of directors includes independent directors, which strengthens corporate governance[92]. - The company has faced regulatory scrutiny regarding its asset restructuring efforts, indicating a need for careful navigation of compliance issues[97]. - The company aims to protect the interests of minority shareholders through its restructuring and asset injection commitments[97]. Community Engagement and Social Responsibility - The company purchased agricultural products worth ¥120,000 from targeted poverty alleviation counties, contributing to local economic development[123]. - The company is committed to continuing its poverty alleviation efforts under the guidance of the National Sports Administration, focusing on targeted assistance[127]. - The company organized over 50 offline events across 40 cities on "National Fitness Day," with more than 200,000 participants offline and 1.6 million online, reaching an audience of 1.2 billion[58]. - The online Olympic Day event attracted over 150,000 participants and featured 350 star athletes, generating significant engagement with nearly 400 million views on short videos and over 620 million reads on Weibo, showcasing the company's adaptability during the pandemic[62].

Financial Performance - Net profit attributable to shareholders was CNY -30,834,906.06, compared to CNY -1,001,840.64 in the same period last year[12]. - Operating revenue for the period was CNY 83,539,797.06, representing a decrease of 11.80% year-on-year[12]. - Basic and diluted earnings per share were both CNY -0.0365, compared to CNY -0.0012 in the same period last year[12]. - The net profit attributable to shareholders of the parent company for Q1 2020 was ¥-30,834,906.06, significantly worse than ¥-1,001,840.64 in Q1 2019[48]. - Net loss for Q1 2020 was ¥40,400,612.48, compared to a net loss of ¥9,107,165.45 in Q1 2019[48]. - The total profit for Q1 2020 was ¥-40,384,417.09, a decline from ¥-8,886,623.69 in Q1 2019[46]. Cash Flow - Net cash flow from operating activities was CNY -120,950,391.42, an increase of 256.45% compared to CNY -33,932,301.36 in the previous year[12]. - Cash received from sales of goods and services decreased by 46.59% to ¥96,107,012.92, mainly due to a reduction in cash received from real estate project sales[21]. - Cash inflow from operating activities for Q1 2020 was $178,436,398.08, down 45.2% from $324,980,271.75 in Q1 2019[59]. - Net cash outflow from operating activities for Q1 2020 was -$120,950,391.42, compared to -$33,932,301.36 in Q1 2019[59]. - Cash inflow from investment activities for Q1 2020 was $8,452,353.25, a decrease of 32.0% from $12,444,915.22 in Q1 2019[60]. - Cash flow from investing activities turned positive at ¥6,959,390.13, compared to -¥16,458,651.36 in the previous period[23]. - The company reported a significant decrease in cash flow from financing activities, down 96.32% to ¥7,412,270.74[23]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,908,321,921.33, a decrease of 1.94% compared to the end of the previous year[12]. - Total assets decreased from $3,985,825,794.31 to $3,908,321,921.33, a decline of approximately 2%[32]. - Non-current liabilities increased from $226,702,843.63 to $255,404,844.87, an increase of about 12%[34]. - Current liabilities decreased from $1,727,302,357.81 to $1,661,497,096.07, a reduction of approximately 4%[32]. - Total equity decreased from $2,031,820,592.87 to $1,991,419,980.39, a decline of approximately 2%[34]. - The company's total liabilities were CNY 1,954,005,201.44, with current liabilities comprising CNY 1,727,302,357.81[74]. Shareholder Information - The total number of shareholders at the end of the reporting period was 87,151[15]. - The largest shareholder, the National Sports General Administration Sports Fund Management Center, holds 186,239,981 shares, accounting for 22.07%[15]. Investment and Income - Investment income fell by 125.93% to -¥1,594,846.98, mainly due to a decrease in investment income from associated companies[21]. - The company reported a non-operating income and expenses net loss of CNY -99,761.66[12]. - Other income surged by 980.64% to ¥2,527,921.50, attributed to an increase in government subsidies related to daily operations[21]. - The company reported an investment loss of ¥-1,594,846.98 in Q1 2020, compared to a profit of ¥6,149,430.95 in Q1 2019[46]. Research and Development - Research and development expenses increased to ¥400,395.57 in Q1 2020 from ¥74,260.00 in Q1 2019, reflecting a growth of 438.5%[46]. Compliance and Standards - The company executed the new revenue recognition standard starting January 1, 2020, impacting the classification of prepayments to contract liabilities[76]. - The financial statements reflect compliance with the new accounting standards without prior period adjustments[86].

Financial Performance - Net profit attributable to shareholders was ¥32,706,592.14, representing a decrease of 26.24% year-on-year[12]. - Operating revenue for the period was ¥656,460,985.67, down 11.32% from the same period last year[12]. - The company reported a significant decrease in net profit after deducting non-recurring gains and losses, which was ¥8,079,975.64, down 80.97% year-on-year[12]. - Basic earnings per share fell by 26.24% to ¥0.0388[12]. - The company reported a net loss from minority interests of CNY -11,527,610.57 in Q3 2019, compared to CNY -4,255,841.94 in Q3 2018[57]. - The total comprehensive income attributable to the parent company for Q3 2019 was CNY 9,981,102.28, down from CNY 18,662,057.78 in Q3 2018[59]. - The company’s total comprehensive income for the third quarter of 2019 was CNY 46,813,562.12, compared to CNY 7,938,986.27 in the third quarter of 2018, indicating a substantial increase[64]. Cash Flow - The net cash flow from operating activities was -¥124,300,756.48, a decline of 142.99% compared to the previous year[12]. - The company's cash flow from operating activities for the first three quarters of 2019 was negative CNY 124,300,756.48, compared to a positive CNY 289,160,287.83 in the same period of 2018[69]. - The total cash inflow from operating activities was 110,286,724.42, while cash outflow was 110,431,012.24, resulting in a slight negative cash flow[74]. - The company reported a net cash flow from investing activities of 75,130,212.00, down from 90,767,728.03 in the previous year[74]. - The company raised 284,961,307.00 in cash from borrowings, significantly up from 30,000,000.00 in the previous period[71]. - Total cash flow from financing activities was 134,718,098.14, compared to -152,678,046.65 in the previous year[71]. - The net increase in cash and cash equivalents was 56,076,836.48, compared to 204,252,081.39 in the same period last year[71]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥4,292,353,709.06, an increase of 0.84% compared to the end of the previous year[12]. - Total liabilities increased to ¥2.35 billion from ¥2.28 billion, representing a rise of approximately 2.9%[43]. - Total non-current assets amounted to ¥784.38 million, up from ¥736.81 million, indicating a growth of about 6.4%[41]. - Current liabilities reached approximately $2.20 billion, primarily driven by accounts payable of $725.19 million and advance receipts of $960.33 million[83]. - Long-term borrowings increased by 224.07% to ¥237,000,000.00 due to new long-term borrowings and reclassification of current liabilities[21]. - The company has no reported construction in progress or biological assets, indicating a focus on existing asset management[83]. Shareholder Information - The total number of shareholders at the end of the reporting period was 93,030[16]. - The largest shareholder, the State Sports General Administration, held 22.07% of the shares[16]. - The company's total equity attributable to shareholders rose to ¥1.71 billion from ¥1.69 billion, an increase of approximately 0.9%[43]. Income and Expenses - Research and development expenses were not explicitly detailed but are part of the overall operating costs, which increased significantly in Q3 2019[54]. - The company incurred management expenses of CNY 21,808,009.59 in the first three quarters of 2019, compared to CNY 19,748,081.68 in the same period of 2018, indicating an increase of approximately 10.4%[62]. - The company reported a significant increase in tax expenses, with CNY 2,876,360.43 in Q3 2019 compared to CNY 1,520,049.37 in Q3 2018, reflecting a rise of approximately 89.2%[57]. Investment Activities - Cash received from investment income increased by 48.94% to ¥39,877,684.25 due to increased dividends from associated companies[21]. - The company reported investment income of CNY 39,877,684.25 for the first three quarters of 2019, an increase from CNY 26,773,716.47 in the same period of 2018[69]. - The company reported a significant increase in cash inflow from investment activities, indicating a strategic focus on investment growth[74].