Financial Performance - The company's operating revenue for the first half of 2021 was CNY 4,210,074,380.19, representing a year-on-year increase of 14.26% compared to CNY 3,684,638,643.12 in the same period last year[19]. - The net profit attributable to shareholders of the listed company reached CNY 285,847,430.28, a significant increase of 55.84% from CNY 183,427,784.60 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 332,172,130.55, which is a 103.26% increase compared to CNY 163,421,387.32 in the same period last year[19]. - The net cash flow from operating activities increased by 86.55%, amounting to CNY 663,810,864.47, up from CNY 355,843,654.02 in the previous year[19]. - Basic earnings per share for the first half of 2021 were CNY 0.42, a 55.56% increase from CNY 0.27 in the same period last year[19]. - Gross profit margin increased to 64.26%, up by 2.43 percentage points compared to the previous year[32]. - The online sales channel generated 1.607 billion yuan in revenue, an increase of 12.67% year-on-year[32]. - The offline sales channel reported 2.599 billion yuan in revenue, up by 15.19% year-on-year[32]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 12,212,695,491.64, reflecting an 8.12% increase from CNY 11,295,320,619.07 at the end of the previous year[19]. - The total current assets reached ¥6,932,737,126.82, compared to ¥6,154,909,020.01 at the end of 2020, indicating a growth of approximately 12.6%[102]. - Total liabilities rose to CNY 5,537,843,814.52, up from CNY 4,796,096,564.81, indicating a year-over-year increase of approximately 15.5%[107]. - Current liabilities amounted to CNY 3,586,678,071.51, compared to CNY 2,875,717,268.06, marking an increase of around 24.7%[105]. - The company's cash and cash equivalents reached CNY 746,476,272.47, significantly up from CNY 247,112,084.49, representing a growth of approximately 202.5%[109]. Research and Development - Research and development expenses amounted to 79 million yuan, reflecting a year-on-year increase of 14.30%[32]. - Research and development expenses for the first half of 2021 amounted to CNY 73,378,557.00, up from CNY 64,962,249.64 in the same period of 2020, showing a commitment to innovation[120]. Strategic Initiatives - The company established a long-term innovation partnership with BASF to enhance digital transformation and sustainable development[33]. - The company plans to focus on consumer-centric strategies and digital marketing to enhance brand visibility and sales[33]. - The company aims to achieve over 50% reduction in the environmental impact of new products by 2025, with a goal of carbon neutrality across the entire value chain by 2050[55]. - The company initiated three energy-saving projects during the reporting period, expected to save approximately 300,000 kWh, 50,000 kWh, and 60,000 kWh respectively[56]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 21,930[83]. - The total number of shares held by Shanghai Jahwa (Group) Co., Ltd. is 344,927,001, accounting for 50.88% of the total shares[86]. - The company approved a stock option incentive plan draft on July 22, 2021, and a revision of the plan on August 24, 2021, pending shareholder approval[53]. Financial Management - The company reported a significant decrease in financial expenses by 77.83% compared to the previous year[36]. - The financial expenses decreased due to lower interest expenses from bank loans, following the repayment of overseas syndicated loans in the previous year[37]. - The company has a total guarantee amount of RMB 1,076,478,518, which accounts for 16.13% of the company's net assets[75]. Compliance and Governance - The financial statements are prepared based on the "Enterprise Accounting Standards" and comply with the disclosure requirements of the China Securities Regulatory Commission[179]. - The company operates on a going concern basis, ensuring continuity in its operations[176]. - The company has no major litigation or arbitration matters during the reporting period[65].

Financial Performance - Net profit attributable to shareholders rose by 41.92% to CNY 169,223,907.69 year-on-year[12] - Operating revenue grew by 27.04% to CNY 2,114,840,292.22 compared to the same period last year[12] - Basic earnings per share increased by 38.89% to CNY 0.25 compared to the same period last year[12] - The total comprehensive income amounted to CNY 219,018,060.34, compared to CNY 21,818,154.52 in the previous period[61] - Net profit for Q1 2021 was ¥169,223,907.69, compared to ¥119,240,351.71 in Q1 2020, representing a 42% increase[53] - Earnings per share for Q1 2021 were ¥0.25, up from ¥0.18 in Q1 2020[53] Assets and Liabilities - Total assets increased by 6.41% to CNY 12,019,576,756.28 compared to the end of the previous year[12] - The company's total current assets reached RMB 6,733,777,889.79, up from RMB 6,154,909,020.01 in the previous year, indicating a growth of 9.38%[33] - The company's total liabilities due within one year increased significantly to RMB 163,618,948.41, a rise of 1,507.94% from RMB 10,175,685.77 in the previous year[27] - Total liabilities increased to $5.31 billion from $4.80 billion, reflecting a growth of approximately 10.7%[37] - The total liabilities were reported at 4,796,096,564.81 RMB, increasing to 4,922,450,496.19 RMB[77] Cash Flow - Net cash flow from operating activities increased by 45.65% to CNY 495,766,578.41 year-on-year[12] - Cash inflow from operating activities was CNY 2,431,062,843.33, an increase from CNY 1,981,912,476.84 year-over-year[65] - Cash outflow for investing activities totaled CNY 1,264,336,060.76, compared to CNY 1,229,194,553.82 in the previous year[66] - The ending cash and cash equivalents balance was CNY 1,510,547,197.29, down from CNY 1,796,663,822.96 year-over-year[66] Shareholder Information - The number of shareholders reached 21,819 by the end of the reporting period[19] - The largest shareholder, Shanghai Jahwa United Co., Ltd., holds 49.37% of the shares[19] Government Support - The company received government subsidies amounting to CNY 499,139.10 during the reporting period[15] Investment and Expenses - The investment income for the first quarter of 2021 was RMB 49,161,465.40, a substantial increase of 306.18% compared to RMB 12,103,418.13 in the same period last year[29] - The company's sales expenses for the first quarter of 2021 were RMB 917,159,172.25, an increase of 37.88% from the previous year[29] - Research and development expenses for Q1 2021 were ¥41,747,109.60, an increase from ¥33,186,965.93 in Q1 2020[51] Financial Standards and Changes - The company adopted a new leasing standard effective January 1, 2021, impacting the recognition of lease liabilities and right-of-use assets[82] - The company has implemented the new leasing standards starting January 1, 2021, affecting the financial statements without restating prior periods[81] - The right-of-use assets recognized amounted to ¥34,250,594.70 as of January 1, 2021, reflecting the present value of future minimum lease payments[94]

Financial Performance - The company's operating revenue for 2020 was CNY 7,032,385,622.18, a decrease of 7.43% compared to 2019[33]. - The net profit attributable to shareholders for 2020 was CNY 430,201,656.84, down 22.78% from the previous year[33]. - The net cash flow from operating activities was CNY 643,434,435.10, reflecting a decline of 14.07% year-on-year[33]. - The basic earnings per share for 2020 was CNY 0.64, a decrease of 22.89% compared to 2019[34]. - The company's total assets at the end of 2020 were CNY 11,295,320,619.07, an increase of 1.33% from the end of 2019[33]. - The net assets attributable to shareholders increased by 3.40% to CNY 6,499,224,054.26 at the end of 2020[33]. - The weighted average return on equity for 2020 was 6.73%, down 2.48 percentage points from 2019[34]. - The company achieved a revenue of 7.03 billion RMB, a year-on-year decline of 7.43% due to the impact of the pandemic and adjustments in sales channels[51]. - Gross margin decreased to 59.95%, down by 1.93 percentage points compared to the previous year[51]. - Online sales revenue reached 2.98 billion RMB, growing by 15.24% year-on-year, while offline sales dropped to 4.05 billion RMB, a decline of 19.09%[51]. Strategic Initiatives - The company plans to enhance overall business visibility and efficiency through continuous digital empowerment and simplification of systems in 2021[17]. - The company is focusing on consumer insights and industry trends to guide decision-making, shifting from a centralized to a decentralized approach[13]. - Brand innovation efforts include collaboration with big data platforms to determine new product concepts, packaging, and pricing through multi-dimensional consumer testing[13]. - The company is actively embracing new retail strategies to enhance its offline channel performance and has made adjustments to channel strategies based on environmental changes[13]. - The company aims to achieve positive growth for brands like Baicaoji and Meijiajing in 2021 after years of decline[14]. Research and Development - R&D expenses totaled 144 million RMB, down 16.52% year-on-year, reflecting a focus on cost control[51]. - The total R&D investment for the period amounted to ¥151,093,018.79, representing 2.15% of the operating revenue[76]. - The company has invested in a self-fermentation technology hardware platform to develop effective active ingredients and has introduced innovative raw materials such as snake venom peptides and ceramides[93]. - The company has received 4 new national invention patents and submitted 18 new invention patent applications during the reporting period[93]. - The company has a long-term collaboration with Shanghai Jiao Tong University and other institutions, focusing on clinical research and product efficacy[93]. Market Trends and Consumer Insights - The Chinese cosmetics market is projected to grow at a compound annual growth rate (CAGR) of 8.6% from 2019 to 2024, reaching a market size of CNY 828.2 billion by 2024[116]. - Skincare products achieved a compound annual growth rate (CAGR) of 10.1% from 2014 to 2019, and are projected to grow at a CAGR of 12.5% from 2019 to 2024[119]. - Bath products experienced a CAGR of 3.7% from 2014 to 2019, with an expected CAGR of 4.7% from 2019 to 2024[119]. Corporate Governance and Shareholder Returns - The board of directors has proposed a cash dividend of 2.00 yuan per 10 shares to shareholders, reflecting a commitment to returning value to investors[6]. - The cash dividend policy stipulates that at least 30% of the net profit attributable to shareholders will be distributed as cash dividends each year[129]. - In 2020, the company distributed cash dividends amounting to approximately 135.59 million RMB, representing 31.52% of the net profit attributable to shareholders[130]. - The company has maintained a consistent cash dividend distribution of over 30% of net profit since 2009[129]. Social Responsibility and Sustainability - The company donated over 4 million yuan in cash and materials to support the fight against COVID-19[168]. - A total of 102,000 yuan was invested in educational poverty alleviation, benefiting 400 impoverished students[169]. - The company plans to continue its "precision poverty alleviation" efforts in 2021, focusing on improving education and health in rural areas[172]. - The company achieved a water savings of 17,640 tons through ultra-filtration concentrate recovery initiatives[174]. - The company was awarded the title of "Shanghai Water-saving Enterprise" for its environmental management efforts[174]. Operational Efficiency - Inventory and accounts receivable decreased significantly by the end of the year compared to the same period last year, reflecting effective management[14]. - The company closed 462 low-performing stores in 2020, leaving a total of 977 stores by year-end[55]. - The company has implemented strategic reserves for long-cycle imported raw materials to mitigate supply risks[107]. - The company’s energy costs increased, with steam prices rising by 29.6%, impacting overall operating costs[106]. Audit and Compliance - The company appointed PwC Zhongtian as the domestic auditor for the 2020 financial year, with an audit fee of RMB 2.58 million[135]. - The internal control audit for the 2020 financial report was also conducted by PwC Zhongtian, with a fee of RMB 980,000[138]. - The company has no significant litigation or arbitration matters in the current year[139]. - The integrity status of the company and its controlling shareholders is reported to be good during the reporting period[139].

Financial Performance - Net profit attributable to shareholders of the listed company was ¥312,117,140.45, a decrease of 42.25% year-on-year[18]. - Operating revenue for the first nine months was ¥5,362,181,119.25, down 6.51% from the same period last year[18]. - Basic earnings per share decreased by 43.21% to ¥0.46[21]. - The weighted average return on net assets fell by 4.04 percentage points to 4.91%[21]. - The net profit after deducting non-recurring gains and losses was ¥276,061,476.87, down 27.34% year-on-year[18]. - The net profit attributable to shareholders for the third quarter was RMB 312,117,140.45, a decrease of 42.25% compared to RMB 540,429,290.65 in the same period last year[39]. - Basic and diluted earnings per share were both RMB 0.46, down 43.21% from RMB 0.81 in the previous year[39]. - Total operating revenue for Q3 2020 was ¥1,677,542,476.13, a decrease of 7.4% compared to ¥1,812,648,519.27 in Q3 2019[62]. - Total operating costs for Q3 2020 were ¥1,625,262,520.47, down 5.1% from ¥1,712,205,821.32 in Q3 2019[62]. - Net profit for Q3 2020 reached ¥128,689,355.85, an increase of 33.4% compared to ¥96,493,284.80 in Q3 2019[65]. - Total comprehensive income for the first three quarters of 2020 was ¥229.18 million, compared to ¥784.33 million in the same period of 2019[71]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥11,380,122,000.51, an increase of 2.09% compared to the end of the previous year[18]. - Total current assets increased to ¥6,412,081,802.26 as of September 30, 2020, up from ¥5,877,515,860.01 on December 31, 2019, representing an increase of approximately 9.05%[47]. - Total non-current assets decreased to ¥4,968,040,198.25 from ¥5,269,976,676.30, a decline of about 5.73%[51]. - Total current liabilities increased to ¥3,146,253,490.00 from ¥2,865,015,492.68, an increase of about 9.83%[51]. - Total liabilities rose to ¥5,041,318,200.86, compared to ¥4,861,742,472.71, indicating an increase of approximately 3.69%[53]. - Shareholders' equity increased to ¥6,338,803,799.65 from ¥6,285,750,063.60, representing a growth of about 0.85%[53]. - The company’s total liabilities were approximately ¥4.86 billion as of September 30, 2020[91]. - Current liabilities totaled approximately ¥2.87 billion, with accounts payable at ¥823.86 million[88]. - Non-current liabilities were approximately ¥1.99 billion, with long-term borrowings at ¥1.14 billion[91]. Cash Flow - Net cash flow from operating activities for the first nine months was ¥617,946,645.91, a decline of 14.72% compared to the previous year[18]. - Total cash inflow from operating activities was ¥6,010,845,130.87, down from ¥6,217,935,793.93 in the previous year, reflecting a decline of 3.34%[76]. - Cash outflow from operating activities totaled ¥5,392,898,484.96, slightly lower than ¥5,493,357,992.65 in 2019, indicating a decrease of 1.83%[76]. - Cash inflow from investment activities amounted to ¥3,917,555,081.78, an increase of 34.1% compared to ¥2,923,146,437.46 in the previous year[79]. - The net cash flow from investment activities was -¥267,847,342.09, worsening from -¥218,296,713.92 in the same period last year[79]. - Cash inflow from financing activities was ¥1,072,316,400.00, compared to ¥34,818,440.00 in the previous year, showing a significant increase[79]. - The ending balance of cash and cash equivalents was ¥1,530,899,867.17, up from ¥1,396,922,023.05 at the end of the previous year[79]. Shareholder Information - The total number of shareholders at the end of the reporting period was 26,808[26]. - The largest shareholder, Shanghai Jahwa United Co., Ltd., held 317,132,527 shares, accounting for 47.25% of the total[26]. Research and Development - Development expenses decreased by 83.31%, from RMB 10,003,015.04 to RMB 1,669,846.77, as some R&D projects were completed and transferred to intangible assets[37]. - Research and development expenses for Q3 2020 were ¥31,634,063.31, a decrease of 20.6% from ¥39,803,955.29 in Q3 2019[62]. - The company plans to continue focusing on R&D and market expansion strategies to enhance future growth[71].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 3,684,638,643.12, a decrease of 6.07% compared to the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 183,427,784.60, down 58.68% year-on-year[20]. - The net cash flow from operating activities was CNY 355,843,654.02, a decline of 34.55% compared to the previous year[20]. - The basic earnings per share for the first half of 2020 was CNY 0.27, representing a decrease of 59.09% from CNY 0.66 in the same period last year[21]. - The weighted average return on net assets was 2.89%, down 4.46 percentage points from the previous year[21]. - The company reported a net profit after deducting non-recurring gains and losses of CNY 163,421,387.32, down 37.32% year-on-year[20]. - Gross profit margin was 61.83%, a decline of 0.11 percentage points compared to the previous year[34]. - The total profit for the first half of 2020 was CNY 220,702,070.99, compared to CNY 533,514,664.38 in the same period of 2019, indicating a decrease of approximately 58.7%[110]. - The operating profit for the first half of 2020 was CNY 220,804,256.68, down from CNY 531,946,537.04 in the same period of 2019, a decline of approximately 58.5%[110]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 11,391,788,265.97, an increase of 2.19% compared to the end of the previous year[20]. - The net assets attributable to shareholders of the listed company were CNY 6,221,438,936.76, a decrease of 1.02% from the previous year[20]. - The total liabilities at the end of the reporting period were ¥11,373,000,000, with long-term borrowings amounting to ¥1,045,728,000.00, reflecting a 3.19% decrease year-on-year[42]. - Total liabilities increased to approximately ¥5.17 billion, up by 6.3% from ¥4.86 billion[98]. - The company's total shareholders' equity decreased by 0.37% compared to the previous period[162]. Cash Flow - The net cash flow from operating activities decreased due to a year-on-year reduction in sales receipts and last year's compensation for land relocation[39]. - Cash outflow from operating activities totaled CNY 3,599,876,386.30, resulting in a net cash flow from operating activities of CNY 355,843,654.02, down 34.6% from CNY 543,672,455.36 in 2019[120]. - Cash inflow from investment activities was CNY 2,374,655,722.38, compared to CNY 1,709,930,135.14 in the first half of 2019, marking an increase of 39%[122]. - The ending balance of cash and cash equivalents was CNY 1,596,912,417.29, slightly down from CNY 1,634,944,035.15 at the end of the first half of 2019[122]. Research and Development - Research and development expenses amounted to CNY 69 million, a decrease of 4.72% year-on-year[35]. - The company's research and development expenses for the first half of 2020 were CNY 64,962,249.64, slightly down from CNY 67,237,726.76 in the previous year[112]. Corporate Governance and Management - The company has not disclosed any plans for profit distribution or capital reserve transfer to increase share capital during the reporting period[6]. - The company has not engaged in any major related party transactions during the reporting period[56]. - The company appointed Mr. Pan Qiusheng as the new CEO and Chairman, succeeding Mr. Zhang Dongfang[87]. Social Responsibility - The company donated RMB 1 million to support 200 students in the "Together We Progress" initiative during the reporting period[68]. - A total of RMB 102,000 was invested in financial aid for 400 impoverished students, contributing to educational poverty alleviation efforts[69]. - The company plans to continue its "precise poverty alleviation" efforts in the second half of 2020, focusing on improving education and health in impoverished areas[70]. Compliance and Accounting - The company's financial statements are prepared based on the going concern assumption[171]. - The financial statements comply with the requirements of the Accounting Standards for Enterprises, reflecting the company's financial position and operating results accurately[175]. - The company has not disclosed any significant accounting errors or changes in accounting policies during the reporting period[75].

Financial Performance - Net profit attributable to shareholders was ¥119,240,351.71, a decrease of 48.89% year-on-year[12]. - Operating revenue for the period was ¥1,664,700,172.88, down 14.80% from the same period last year[12]. - Basic earnings per share decreased by 48.57% to ¥0.18[12]. - The weighted average return on net assets fell to 1.89%, a decrease of 2.03 percentage points year-on-year[12]. - Total operating revenue for Q1 2020 was $1,664,700,172.88, a decrease of 14.74% compared to $1,953,877,043.25 in Q1 2019[47]. - Net profit for Q1 2020 was $119,240,351.71, a decline of 48.94% from $233,315,627.12 in Q1 2019[49]. - Comprehensive income for Q1 2020 totaled $41,837,598.35, significantly lower than $256,130,378.11 in Q1 2019[49]. - The company reported a significant decrease in investment income, which fell by 77.49% to ¥12,103,418.13 from ¥53,765,791.36 year-on-year[27]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥11,167,831,246.46, an increase of 0.18% compared to the end of the previous year[12]. - The company's total current assets reached ¥6,122,316,008.61, compared to ¥5,877,515,860.01 at the end of 2019, indicating an increase of 4.15%[32]. - The company's inventory as of March 31, 2020, was ¥987,948,426.11, up from ¥925,168,022.56 at the end of 2019, reflecting an increase of 6.77%[32]. - The company’s total liabilities increased significantly, with borrowings amounting to ¥1,079,724,000.00, marking a 100% increase due to new loans from overseas subsidiaries[29]. - Total liabilities decreased from ¥4,861,742,472.71 to ¥4,837,631,924.76, a reduction of approximately 0.49%[37]. - Owner's equity increased from ¥6,285,750,063.60 to ¥6,330,199,321.70, showing a growth of about 0.71%[37]. - The total liabilities included accounts payable of ¥823,855,969.38, remaining stable compared to the previous year[63]. - The total liabilities and equity combined reached $9.66 billion, reflecting the company's financial stability[75]. Cash Flow - Net cash flow from operating activities increased by 27.38% to ¥340,375,610.57 compared to the previous year[12]. - The cash flow from operating activities for Q1 2020 was ¥340.38 million, an increase of 27.3% from ¥267.21 million in Q1 2019[57]. - Cash inflow from operating activities totaled ¥846,846,543.95 in Q1 2020, slightly down from ¥859,439,095.33 in Q1 2019, reflecting a decrease of approximately 1.5%[59]. - The net cash flow from operating activities for Q1 2020 was ¥185,670,772.02, a significant increase compared to ¥62,771,835.73 in Q1 2019, representing a growth of approximately 195%[59]. - Cash outflow from operating activities was ¥661,175,771.93 in Q1 2020, down from ¥796,667,259.60 in Q1 2019, showing a reduction of about 17%[59]. Shareholder Information - The total number of shareholders at the end of the reporting period was 34,259[19]. - The largest shareholder, Shanghai Jahwa Group Co., Ltd., holds 47.25% of the shares[19]. Government Support and Financial Adjustments - The company received government subsidies amounting to ¥2,030,472.85 during the reporting period[14]. - The company implemented new revenue recognition standards affecting various financial statement items, with specific adjustments noted[69]. - The company adopted the revised revenue recognition standards in 2020, impacting the financial statements without restating prior year figures[75].

Financial Performance - The company's operating revenue for 2019 was CNY 7,596,951,822.91, representing a 6.43% increase compared to CNY 7,137,947,377.14 in 2018[22] - The net profit attributable to shareholders of the listed company was CNY 557,091,142.46, a 3.09% increase from CNY 540,379,997.40 in the previous year[22] - The net profit after deducting non-recurring gains and losses decreased by 16.91% to CNY 379,516,940.37 from CNY 456,760,277.01 in 2018[22] - The net cash flow from operating activities was CNY 748,756,914.22, down 16.31% from CNY 894,674,627.73 in 2018[22] - The total assets at the end of 2019 were CNY 11,147,492,536.31, an increase of 9.72% from CNY 10,160,072,259.23 at the end of 2018[22] - The net assets attributable to shareholders of the listed company increased by 8.13% to CNY 6,285,750,063.60 from CNY 5,813,061,293.81 in 2018[22] - Basic earnings per share for 2019 were CNY 0.83, a 2.47% increase from CNY 0.81 in 2018[23] - The weighted average return on net assets was 9.21%, a decrease of 0.47 percentage points from 9.68% in 2018[23] Revenue Breakdown - Online sales channel revenue reached 2.583 billion RMB, growing by 30.01% year-on-year, while offline sales decreased by 2.62%[40] - The revenue from the personal care segment was ¥4,901,359,047, with a year-on-year growth of 7.93%[56] - The revenue from the skincare segment was ¥2,356,381,279, with a slight decrease of 0.06% year-on-year[56] - The company experienced a 42.89% increase in revenue from the home care segment, totaling ¥333,119,565[56] - The overseas revenue reached ¥1,684,021,578, with a year-on-year increase of 5.94%[56] Expenses and Costs - Research and development expenses increased by 15.60% to 173 million RMB[40] - Sales expenses rose by 10.43% to 3.204 billion RMB, while management expenses increased by 6.62% to 942 million RMB[40] - The cost of raw materials in the daily chemical industry was ¥2,080,537,117.56, accounting for 71.88% of total costs[60] Product Development and Innovation - The company launched several new products, including the second-generation Baicaojie Tai Chi dual-repair essence, which saw a 57% new customer purchase rate[41] - The company applied for 51 patents during the reporting period, receiving authorization for 7 invention patents[45] - The company successfully integrated freeze-drying technology with skin science, launching products that enhance skin micro-ecology health[42] Market and Growth Strategy - The Chinese cosmetics market is projected to reach a market size of 621.1 billion RMB by 2023, with a compound annual growth rate (CAGR) of 8.6% from 2018 to 2023[108] - The skincare segment is expected to grow at a CAGR of 8.3% from 2019 to 2023, while the makeup segment is projected to grow at a CAGR of 13.3% during the same period[109] - The company aims to achieve profitability above the industry average in the long term, focusing on enhancing its core capabilities and building a brand hierarchy with sales targets of 3 billion, 2 billion, and 1 billion RMB[109] Corporate Governance and Management - The company has maintained a cash dividend payout of at least 30% of the net profit attributable to shareholders since 2009[116] - The total pre-tax compensation for the chairperson and CEO, Zhang Dongfang, was CNY 5.109 million during the reporting period[176] - The total number of employees in the parent company and major subsidiaries is 3,395, with 2,533 in major subsidiaries[189] - The company’s management team has extensive experience in the fast-moving consumer goods industry, with over 20 years of experience in various roles[179] Social Responsibility and Community Engagement - The company actively participates in poverty alleviation efforts, contributing to rural revitalization and educational support for students and teachers in impoverished areas[146] - The company donated 200 school bags to students in impoverished areas of Gansu, supporting education[149] - Total funding for poverty alleviation projects amounted to 43.3 million, with material donations valued at 1,271.5 million[150] Risks and Challenges - The company faces risks including the underperformance of star products, challenges in channel transformation, and increased competition from both foreign and local brands[113] - The company has outlined potential risks in its future development in the report, emphasizing the importance of investor awareness[8] Shareholding Structure - The largest shareholder, Shanghai Jahwa Group Co., Ltd., holds 47.25% of the shares, totaling 317,132,527 shares[164] - The company has a diversified ownership structure with no single entity holding a controlling interest[168] - There are no significant changes in the shareholding structure during the reporting period[165]

Financial Performance - Net profit attributable to shareholders was ¥540,429,290.65, reflecting a year-on-year growth of 19.09%[18] - Operating revenue for the first nine months was ¥5,735,309,879.56, up 5.81% from the same period last year[18] - Basic earnings per share rose to ¥0.81, a 19.12% increase compared to ¥0.68 in the same period last year[20] - The company's net profit after deducting non-recurring gains and losses was ¥379,911,221.10, a 2.00% increase from the previous year[18] - Net profit for the first three quarters of 2019 was CNY 5.28 billion, up from CNY 4.53 billion in the same period of 2018, representing an increase of approximately 16.5%[51] - The net profit from continuing operations for the first three quarters of 2019 was approximately ¥784.33 million, compared to ¥439.49 million in the same period of 2018, representing an increase of 78.2%[65] - The total comprehensive income for the first three quarters of 2019 was approximately ¥784.33 million, up from ¥492.00 million in the previous year, indicating a growth of 59.5%[65] Assets and Liabilities - Total assets at the end of the reporting period reached ¥11,119,263,159.36, an increase of 9.44% compared to the end of the previous year[18] - The total liabilities of the company as of September 30, 2019, were CNY 4,907,127,492.37, compared to CNY 4,347,010,965.42 at the end of 2018, reflecting an increase of approximately 12.87%[44] - The company's total current assets reached CNY 5,820,505,427.11, up from CNY 4,777,445,352.03 in December 2018, indicating a growth of about 21.83%[38] - The company's total equity attributable to shareholders reached CNY 6,212,135,666.99, up from CNY 5,813,061,293.81, indicating a growth of approximately 6.86%[44] - The company's long-term equity investments increased to CNY 369,920,189.09 from CNY 276,175,341.83, reflecting a growth of about 33.87%[42] Cash Flow - Net cash flow from operating activities for the first nine months was ¥724,577,801.28, a slight increase of 1.00% year-on-year[18] - Cash inflow from operating activities totaled approximately ¥6.22 billion in 2019, compared to ¥5.90 billion in 2018, reflecting an increase of 5.4%[67] - Cash flow from operating activities for the first three quarters of 2019 was approximately ¥724.58 million, slightly up from ¥717.44 million in the same period of 2018, showing a marginal increase of 1.6%[67] - The cash and cash equivalents at the end of the period increased to approximately ¥1.40 billion in 2019, compared to ¥1.19 billion at the end of 2018, marking an increase of 17.1%[69] Shareholder Information - The total number of shareholders at the end of the reporting period was 24,087[24] - The largest shareholder, Shanghai Jahwa Group Co., Ltd., held 317,132,527 shares, accounting for 47.25% of the total shares[24] Investment Activities - Cash received from investment reached ¥2,733,472,424.94, up 47.76% from ¥1,850,000,000.00[32] - The company reported a significant asset disposal gain of RMB 138,326,929.16, a 461.62% increase from a loss of RMB 38,252,348.36[30] - The total amount of cash paid for investments was RMB 3,000,000,000.00, reflecting a 38.25% increase from RMB 2,170,000,000.00[32] Other Financial Metrics - The weighted average return on equity increased to 8.95%, up 0.85 percentage points from the previous year[20] - The company reported a foreign exchange loss of CNY 30.54 million in Q3 2019, compared to a gain of CNY 51.47 million in Q3 2018[62] - The gross profit margin for Q3 2019 was approximately 40.67%, down from 40.73% in Q3 2018[62] - The company incurred a credit impairment loss of CNY 8.17 million in Q3 2019, compared to no losses in Q3 2018[62]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 3,922,661,360.29, representing a 7.02% increase compared to CNY 3,665,189,282.51 in the same period last year[20]. - The net profit attributable to shareholders of the listed company reached CNY 443,936,005.85, a significant increase of 40.12% from CNY 316,823,032.86 in the previous year[20]. - The net cash flow from operating activities was CNY 543,672,455.36, up by 7.74% compared to CNY 504,628,792.54 in the same period last year[20]. - The total assets of the company at the end of the reporting period were CNY 11,210,438,965.13, reflecting a 10.34% increase from CNY 10,160,072,259.23 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased to CNY 6,100,522,190.79, a rise of 4.95% from CNY 5,813,061,293.81 at the end of the previous year[20]. - Basic earnings per share for the first half of 2019 were CNY 0.66, representing a 40.43% increase from CNY 0.47 in the same period last year[21]. - The weighted average return on equity increased to 7.35%, up by 1.63 percentage points from 5.72% in the previous year[21]. - The gross profit margin was 61.94%, showing a slight decline due to new factory operations and changes in sales structure[33]. - Operating profit reached 532 million yuan, a year-on-year growth of 45.37%[33]. - The company reported a significant increase in investment income, rising by 28.07% to approximately ¥81.83 million, due to higher returns from long-term equity investments[54]. Market Position and Brand Performance - The brand "Liushen" held a market share of 76.2% in the floral water category, an increase of 0.8 percentage points year-on-year[28]. - The brand "Meijiajing" led the mass hand cream category with a market share of 12.3%, up 0.2 percentage points year-on-year[28]. - The emerging brand "Qichu" ranked second in the baby cream and baby shower gel markets with market shares of 14.7% and 7.8%, respectively, increasing by 2.2 and 2.0 percentage points[28]. - The brand "Bai Caoshi" focused on high-end positioning and launched a new product line, including a star product, the freeze-dried mask, which became the top-selling item during the promotional period[35]. - 高夫品牌推出全新升级的净源控油系列，针对油性肌肤，包含控油、祛痘和去黑头等功能[39]. - 高夫在新品上市营销中，精准触达7.6亿人次，有效覆盖50%以上核心人群[39]. - 美加净推出全新植物洁面系列，延续品牌年轻化战略，特邀明星吴倩为品牌代言[40]. - 启初成功上市全新感官启蒙系列，结合婴幼儿洗护、玩乐和早教三大场景[41]. - 玉泽推出全新"玻尿酸安瓶修护精华液"，首发当天荣登天猫面部精华-安瓶品类销量第一[45]. Operational Efficiency and Costs - Operating costs rose to approximately ¥1.49 billion, reflecting a 15.08% increase, primarily due to the new factory operations and changes in sales structure[54]. - Research and development expenses increased by 16.21% to approximately ¥72.68 million, attributed to higher depreciation and amortization costs[54]. - The company’s inventory increased by 11.20% to approximately ¥972.78 million, driven by seasonal production changes and preparations for upcoming sales[60]. - The company successfully launched a new liquid washing production line, enhancing supply chain capabilities and automation[53]. - The financial expenses decreased by 37.68% to approximately ¥24.12 million, mainly due to reduced foreign exchange losses[54]. Risks and Challenges - The company faces risks including lower-than-expected growth in China's retail sales of consumer goods and intensified brand competition due to high-end and segmented market trends[67]. - There were no significant risks or non-operating fund occupation by controlling shareholders or related parties reported[7]. - The company reported no changes in the controlling shareholder or actual controller during the reporting period[98]. - The company has no significant litigation or arbitration matters during the reporting period[75]. Corporate Social Responsibility - The company donated 200 care packages to students in impoverished areas of Gansu, supporting education poverty alleviation efforts[86]. - The company plans to continue its poverty alleviation initiatives in the second half of 2019, focusing on improving education and health conditions in impoverished regions[88]. Financial Reporting and Compliance - The financial statements are prepared based on the accounting standards issued by the Ministry of Finance and comply with the requirements of the China Securities Regulatory Commission[160]. - The company follows a continuous operation basis for its financial reporting[161]. - The financial statements reflect the company's financial position, operating results, changes in shareholders' equity, and cash flows accurately and completely[166]. - The accounting period for the company runs from January 1 to December 31 each year[167]. - The company includes all subsidiaries in its consolidated financial statements as of June 30, 2019, based on control[175]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 25,425[95]. - The largest shareholder, Shanghai Jahwa Group Co., Ltd., held 317,132,527 shares, representing 47.25% of total shares[95]. - The second-largest shareholder, Shanghai Jiushi Group Co., Ltd., decreased its holdings by 50,000 shares, ending with 30,842,898 shares, or 4.59%[95]. Future Outlook - The company is focused on expanding its market presence in the cosmetics and daily chemical sectors, leveraging its established brands[156]. - The company has plans for new product development in the skincare and home care categories to enhance its product portfolio[156]. - The company is committed to improving its operational efficiency and exploring potential mergers and acquisitions to strengthen its market position[156].

Financial Performance - Net profit attributable to shareholders increased by 54.84% to CNY 233,315,627.12 year-on-year[18] - Operating revenue rose by 5.03% to CNY 1,953,877,043.25 compared to the same period last year[18] - Basic earnings per share increased by 59.09% to CNY 0.35[18] - The company reported a total comprehensive income of CNY 256,130,378.11 for Q1 2019, compared to CNY 225,204,000.52 in Q1 2018[53] - The net profit for Q1 2019 reached CNY 357.49 million, compared to CNY 201.92 million in Q1 2018, reflecting a growth of 76.7%[55] - The operating profit for Q1 2019 was CNY 410.41 million, up from CNY 230.68 million in Q1 2018, reflecting an increase of 77.9%[55] Assets and Liabilities - Total assets increased by 4.88% to CNY 10,655,904,988.70 compared to the end of the previous year[18] - Total liabilities amounted to ¥4,577,187,236.67, compared to ¥4,347,010,965.42, which is an increase of approximately 5.29%[40] - Total current assets increased to ¥5,271,762,665.29 as of March 31, 2019, up from ¥4,777,445,352.03 in the previous year, representing a growth of approximately 10.37%[36] - The total amount of accounts payable and notes payable was CNY 827.62 million, indicating a stable short-term liability position[74] - Total liabilities as of Q1 2019 amounted to CNY 2,036,281,858.40, an increase from CNY 1,986,845,998.40 in the previous year[48] Cash Flow - Net cash flow from operating activities decreased by 1.67% to CNY 267,211,097.84[18] - The total cash inflow from operating activities was CNY 2,109.13 million, compared to CNY 1,951.21 million in Q1 2018, indicating an increase of 8.1%[62] - The net cash flow from investing activities was CNY 272.54 million in Q1 2019, a significant improvement from a net outflow of CNY 345.53 million in Q1 2018[62] - The total cash and cash equivalents at the end of Q1 2019 reached ¥732,788,085.66, up from ¥366,373,814.38 at the end of Q1 2018, representing a 99.8% increase[67] Shareholder Information - The total number of shareholders reached 23,109 at the end of the reporting period[25] - The largest shareholder, Shanghai Jahwa Group Co., Ltd., holds 47.25% of the shares[25] Other Income and Expenses - The company reported non-operating income of CNY 72,729,779.19 for the period[24] - The company’s other income increased by 114.10% to CNY 43,269,726.82, mainly due to differences in the timing of government subsidies received[30] - The company reported a 100% increase in trading financial assets, reaching CNY 1,309,861,506.84, attributed to reclassification under new financial instrument standards[30] - Research and development expenses for Q1 2019 were CNY 31,304,165.39, an increase from CNY 24,092,542.46 in Q1 2018[50] Changes in Equity - The company’s total equity reached approximately CNY 5.81 billion, with paid-in capital of CNY 671.25 million and capital reserves of CNY 857.57 million[76] - The company reported an increase in undistributed profits by CNY 131.44 million, adjusting the total equity attributable to shareholders by CNY 2.74 million due to the new financial instrument standards[79] - The impact on equity from the new financial instrument standards was an increase of $414,571.47[86]