Financial Performance - The company's operating revenue for Q3 2021 was CNY 396,372,294.36, representing a year-over-year increase of 14.96%[3] - The net profit attributable to shareholders for the same period was CNY 19,180,970.21, with a significant increase of 366.07% year-over-year for the year-to-date figure of CNY 44,534,585.24[3] - The net profit after deducting non-recurring gains and losses for Q3 2021 was CNY 15,958,040.93, reflecting a year-to-date increase of 775.10%[3] - Basic earnings per share for Q3 2021 was CNY 0.0169, with a year-to-date increase of 367.86% to CNY 0.0393[4] - The weighted average return on equity for Q3 2021 was 0.54%, an increase of 0.70 percentage points compared to the previous year[4] - Total operating revenue for the first three quarters of 2021 reached ¥1,049,789,406.33, an increase from ¥843,958,889.14 in the same period of 2020, representing a growth of approximately 24.4%[18] - Net profit for the third quarter of 2021 was ¥44,420,136.05, a significant increase from ¥8,596,749.39 in the same quarter of 2020, reflecting a growth of approximately 418.5%[19] - The company's total comprehensive income for the third quarter of 2021 was ¥11,142,056.45, compared to a loss of ¥27,762,447.79 in the same quarter of 2020[20] Assets and Liabilities - Total assets at the end of Q3 2021 amounted to CNY 5,008,272,905.59, a 3.36% increase from the end of the previous year[4] - Total assets as of September 30, 2021, amounted to RMB 5,008,272,905.59, an increase from RMB 4,845,533,873.97 at the end of 2020[14] - The company's total liabilities as of the third quarter of 2021 amounted to ¥2,223,597,676.54, compared to ¥2,072,000,701.37 in the previous year, showing an increase of about 7.3%[17] - The total equity attributable to shareholders of the parent company was ¥2,781,397,943.42, slightly up from ¥2,770,141,437.78 in the previous year[17] Cash Flow - The net cash flow from operating activities for the year-to-date period was CNY 11,456,613.09, showing a decline of 65.66%[3] - Net cash inflow from operating activities amounted to ¥1,078,298,120.39, an increase from ¥903,185,461.89 in the previous year, reflecting a growth of approximately 19.4%[22] - Cash received from sales of goods and services in the first three quarters of 2021 was ¥1,041,602,600.34, compared to ¥883,399,140.40 in the same period of 2020, marking an increase of approximately 18%[21] - Cash paid for operating activities totaled ¥1,066,841,507.30, compared to ¥869,824,097.46 in the previous year, reflecting a rise of about 22.6%[22] - Cash received from other operating activities was ¥20,529,432.83, up from ¥15,717,075.70, marking an increase of approximately 30.5%[22] Shareholder Information - The company reported a total of 57,767 common shareholders at the end of the reporting period[11] - The largest shareholder, Henan Ruibeka Holdings Co., Ltd., holds 33.71% of the shares, totaling 381,538,217 shares[11] - The second-largest shareholder, Henan Ruibeka Hair Products Co., Ltd., holds 1.98% of the shares, totaling 22,467,179 shares[11] - The company has no significant related party transactions among the top ten shareholders[12] Government Support and Future Plans - The company reported a government subsidy of CNY 970,000.00 for Q3 2021, contributing positively to the financial results[6] - The company plans to continue focusing on market expansion and product development to sustain growth in the upcoming quarters[8] Inventory and Borrowings - Inventory stood at RMB 3,154,105,665.10, slightly up from RMB 3,131,738,717.77, indicating a marginal increase of 0.7%[15] - Short-term borrowings rose to RMB 1,368,503,836.80 from RMB 1,170,996,000.00, marking an increase of approximately 16.8%[15] - The company's long-term borrowings increased to ¥345,000,000.00 in the third quarter of 2021, compared to ¥60,000,000.00 in the previous year, reflecting a significant rise of approximately 475%[17] Research and Development - Research and development expenses for the first three quarters of 2021 were ¥23,646,492.01, down from ¥26,567,046.45 in 2020, indicating a decrease of about 11.0%[18] Cash and Cash Equivalents - Cash and cash equivalents reached RMB 495,992,489.73, up from RMB 385,582,542.08 in December 2020, reflecting a growth of approximately 28.7%[14] - Total cash and cash equivalents at the end of the period stood at ¥495,992,489.73, up from ¥432,690,105.82 at the end of the previous year, representing an increase of approximately 14.6%[23]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥653.42 million, representing a 30.90% increase compared to ¥499.17 million in the same period last year[20]. - The net profit attributable to shareholders was ¥25.35 million, up 43.92% from ¥17.62 million in the previous year[20]. - The net cash flow from operating activities was ¥47.27 million, a significant recovery from a negative cash flow of ¥14.83 million in the same period last year[20]. - The basic earnings per share increased to ¥0.0224, reflecting a 43.59% growth compared to ¥0.0156 in the previous year[21]. - The company reported a significant increase in the net profit after deducting non-recurring gains and losses, which reached ¥24.35 million, up 117.96% from ¥11.17 million in the previous year[20]. - The increase in operating revenue was primarily driven by a significant recovery in the North American market, with sales revenue from other markets also rising compared to the previous year[37]. - Operating costs rose to ¥434,443,521.49, an increase of 33.47% year-on-year, mainly due to the increase in operating revenue[39]. - Sales expenses increased by 21.27% to ¥84,078,738.66, attributed to rising international shipping prices and logistics costs[39]. Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥4.96 billion, a 2.29% increase from ¥4.85 billion at the end of the previous year[20]. - The net assets attributable to shareholders were ¥2.79 billion, showing a slight increase of 0.67% from ¥2.77 billion at the end of the previous year[20]. - The total liabilities were CNY 2,164,634,571.33, compared to CNY 2,072,000,701.37, reflecting a decrease of approximately 4.45%[83]. - Current assets totaled CNY 4,003,617,830.62, up from CNY 3,877,125,322.76, indicating an increase of about 3.24%[82]. - Inventory reached CNY 3,147,980,820.27, slightly up from CNY 3,131,738,717.77, showing a growth of approximately 0.51%[81]. - Total operating costs amounted to ¥626,724,612.75, up 29.3% from ¥484,893,540.41 in the previous year[90]. Research and Development - The company holds 437 patents, including 21 authorized invention patents, showcasing its strong research and development capabilities in the hair products sector[33]. - R&D expenses remained stable at ¥15,237,029.79, showing a slight decrease of 0.47% year-on-year[39]. - Research and development expenses for new products and technologies amounted to 249,054,414 CNY, representing a 10% increase from the last period[110]. Market Presence and Operations - The company specializes in the research, design, production, and sales of hair products, with major product categories including human hair wigs and synthetic wigs, and operates under several brands such as "Rebecca" and "Sleek"[25]. - The company has established a global supply chain with 12 wholly-owned subsidiaries abroad, including 8 sales companies and 4 production companies, enhancing its international market presence[26]. - As of the end of the reporting period, the company had a total of 198 retail stores in the domestic market, comprising 83 direct-operated stores and 115 franchise stores, indicating a steady increase in store count[27]. - The company is a leading exporter in the hair products industry, with total exports consistently exceeding $3 billion annually, and North America and Africa accounting for approximately 75% of its export destinations[29]. - The company is positioned as a high-tech enterprise, actively implementing innovation-driven strategies to enhance its product offerings and manufacturing processes[33]. Environmental Compliance - The company strictly complies with national environmental protection laws and regulations, achieving standard emissions for wastewater and air pollutants[57]. - The wastewater discharge concentrations for COD, ammonia nitrogen, total phosphorus, and total nitrogen are 68 mg/L, 19 mg/L, 0.02 mg/L, and 33.0 mg/L, respectively, all meeting the required limits[57]. - The company has passed ISO9001, ISO14001, and GB/T28001 certifications, demonstrating its commitment to quality and environmental management[58]. - The company has established long-term monitoring agreements with third-party testing agencies to ensure compliance with environmental standards[58]. - The company has developed an emergency response plan for environmental incidents, with no such incidents reported during the reporting period[60]. Shareholder Structure - The total number of ordinary shareholders at the end of the reporting period was 61,024[72]. - The largest shareholder, Henan Ruibeka Holdings Co., Ltd., holds 381,538,217 shares, accounting for 33.71% of total shares[73]. - The second largest shareholder, Henan Ruibeka Products Co., Ltd. - Phase I Employee Stock Ownership Plan, holds 22,467,179 shares, representing 1.98% of total shares[73]. - The report indicates no significant changes in the control of major shareholders or related party relationships among the top shareholders[76]. - The financial report indicates a stable shareholder structure with no major fluctuations in shareholding percentages among the top shareholders[80]. Strategic Initiatives - The company plans to continue adjusting its product and capacity structure to capitalize on the recovery in the hair products market and the increasing industry concentration[35]. - The company is focusing on increasing its domestic market share and enhancing domestic sales as the domestic economy shows signs of recovery[47]. - The company aims to launch three new products in the upcoming quarter, which are expected to drive additional revenue growth[110]. - A strategic acquisition was completed, enhancing the company's capabilities in the technology sector, with an investment of 230,842,511 CNY[110]. Challenges and Risks - The company faces significant challenges due to the global economic downturn caused by the COVID-19 pandemic, impacting its export-oriented business model[46]. - International logistics disruptions and soaring shipping costs have created operational difficulties for the company in the first half of the year[46]. - The company's revenue is primarily generated from exports, with major currencies including USD, GBP, and others affecting its financial performance due to exchange rate fluctuations[48]. - The company plans to actively monitor currency trends and adjust product pricing accordingly to mitigate foreign exchange risks[48].

证券代码：600439 证券简称：瑞贝卡 公告编号：临2021-013 河南瑞贝卡发制品股份有限公司关于 参加河南辖区上市公司2021年投资者网上集体接待日活动的 公 告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示: ●会议召开时间：2021年6月8日（16:00-17:20） ●会议召开地点：全景•路演天下（ http://rs.p5w.net） ●会议召开方式：网络互动形式 一、说明会类型 为进一步加强与投资者的互动交流，河南瑞贝卡发制品股份有限公司（以下简称 "公司"或"本公司"）定于 2021年6月8日（周二）参加在全景网举办的"真诚沟通 传递价值"河南辖区上市公司2021年投资者网上集体接待日活动。 二、说明会召开的时间、地点 1、会议召开时间：16:00-17:20； 2、会议召开地点：全景•路演天下 3、会议召开方式：网络互动形式。 三、参加人员 本公司董事会秘书、财务总监等人员将在线与广大投资者进行互动交流。 四、投资者参加方式 投资者可在2021年6月8日（16:00—17:20）登陆 ...

Financial Performance - Operating revenue rose by 17.09% to CNY 307,638,934.03 year-on-year[5] - Net profit attributable to shareholders increased by 22.02% to CNY 17,827,249.71 compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses increased by 42.20% to CNY 17,108,165.58 compared to the same period last year[5] - Basic earnings per share rose by 21.71% to CNY 0.0157[5] - The company reported a net profit of CNY 19,354,687.95 for Q1 2021, compared to CNY 19,618,492.60 in Q1 2020[27] - The net profit for Q1 2021 was CNY 17,592,048.86, compared to a net profit of CNY 14,458,248.60 in Q1 2020, representing a growth of 21.5%[29] - The total comprehensive income for Q1 2021 was CNY 17,267,396.43, compared to a loss of CNY 3,971,693.59 in Q1 2020[29] Cash Flow - The net cash flow from operating activities improved significantly to CNY 7,596,193.21 from a negative CNY 47,911,226.23 in the previous year[5] - Net cash flow from financing activities surged by 258.35% to ¥132,901,235.34 from ¥37,087,231.23, driven by an increase in short-term borrowings[14] - The cash inflow from operating activities in Q1 2021 was CNY 304,397,066.45, slightly down from CNY 307,489,162.71 in Q1 2020[34] - The net cash flow from operating activities for Q1 2021 was -76,285,839.71 RMB, compared to -49,860,428.57 RMB in Q1 2020, indicating a decline in operational performance[36] - The company reported a cash flow from investment activities of 77,988,674.75 RMB in Q1 2021, a significant recovery from -780,800.00 RMB in Q1 2020[36] - The net increase in cash and cash equivalents for Q1 2021 was 136,769,294.30 RMB, contrasting with a decrease of -10,936,413.92 RMB in Q1 2020, highlighting improved liquidity[36] Assets and Liabilities - Total assets increased by 3.50% to CNY 5,015,136,477.90 compared to the end of the previous year[5] - Current liabilities rose to ¥2,164,342,984.85 from ¥2,011,937,923.25, primarily due to an increase in short-term borrowings[20] - Total liabilities as of March 31, 2021, were CNY 2,231,046,023.34, an increase from CNY 2,034,545,546.11 at the end of 2020[25] - Short-term borrowings increased to CNY 1,332,359,663.35 as of March 31, 2021, from CNY 1,170,996,000.00 at the end of 2020[25] - The company's total equity as of March 31, 2021, was CNY 2,525,904,552.58, slightly down from CNY 2,528,477,573.98 at the end of 2020[25] Shareholder Information - The number of shareholders reached 52,713 at the end of the reporting period[10] - The largest shareholder, Henan Rebecca Holdings Co., Ltd., holds 33.71% of the shares, with 381,538,217 shares pledged[10][11] Operational Changes - The company is in the process of relocating its production line due to government land acquisition, which may impact future operational capacity[14] Cost Management - Total operating costs for Q1 2021 were CNY 289,455,781.06, up 17.2% from CNY 247,036,077.06 in Q1 2020[27] - The company's financial expenses increased to CNY 12,072,324.12 in Q1 2021 from CNY 4,792,661.54 in Q1 2020, indicating a rise in interest expenses[31] - The company reported a decrease in sales costs to CNY 146,545,107.99 in Q1 2021 from CNY 117,735,695.42 in Q1 2020, indicating improved cost management[31]

Financial Performance - In 2020, the company's operating revenue was approximately CNY 1.33 billion, a decrease of 26.92% compared to CNY 1.82 billion in 2019[21]. - The net profit attributable to shareholders was CNY 38.14 million, down 81.99% from CNY 211.79 million in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 18.31 million, a decline of 91.07% compared to CNY 204.96 million in 2019[21]. - Basic earnings per share decreased by 81.99% to CNY 0.0337 in 2020 compared to CNY 0.1871 in 2019[22]. - The weighted average return on equity dropped to 1.34% in 2020, down 5.89 percentage points from 7.23% in 2019[22]. - The company achieved a main business revenue of CNY 1,329,586,420.48, a year-on-year decrease of 26.92% due to the impact of COVID-19 and global economic recession[52]. - The net profit attributable to shareholders was CNY 38,141,473.17, down 81.99% year-on-year, primarily due to decreased revenue and increased foreign exchange losses from the appreciation of the RMB[52]. - Total revenue for the year was CNY 1,292,028,945.28, a decrease of 27.35% compared to the previous year[79]. - The company reported a net cash flow from operating activities of CNY 146,726,777.99, which was relatively stable compared to the previous year[53]. - The company reported a total R&D investment of ¥41,060,006.52, which represents 3.09% of total operating revenue[67]. Cash Flow and Assets - The cash flow from operating activities was CNY 146.73 million, a slight decrease of 3.11% from CNY 151.44 million in 2019[21]. - Total assets at the end of 2020 were CNY 4.85 billion, down 3.59% from CNY 5.03 billion at the end of 2019[21]. - The total assets of the company were CNY 4,845,533,873.97, a decrease from CNY 5,025,893,654.70 in 2019, reflecting a decline of approximately 3.58%[175]. - Current assets totaled CNY 3,877,125,322.76, down from CNY 4,020,269,448.77 in the previous year, indicating a decrease of about 3.55%[176]. - Cash and cash equivalents were reported at CNY 385,582,542.08, a decline from CNY 455,888,757.26, representing a decrease of approximately 15.37%[176]. - Inventory decreased to CNY 3,131,738,717.77 from CNY 3,196,541,414.82, showing a reduction of about 2.03%[176]. - Total current liabilities increased to CNY 2,011,937,923.25 from CNY 1,503,252,603.06, marking an increase of approximately 33.73%[177]. - The company reported a significant increase in accounts payable, which rose to CNY 58,754,472.58 from CNY 40,267,678.34, an increase of about 45.73%[177]. Market and Business Strategy - The company operates a global supply chain with 12 wholly-owned subsidiaries abroad, including 8 sales companies and 4 production companies[33]. - The main business includes the R&D, design, production, and sales of hair products, with a complete industrial chain and a wide range of products[32]. - The company has established a retail model that integrates online and offline sales for its own brands in North America[33]. - The company has maintained stable revenue in the North American market, supported by strong consumer demand and economic stimulus measures, while facing challenges in the African and European markets due to the pandemic[47]. - The company has implemented a strategy focusing on pandemic prevention and production stability, ensuring zero infections among employees and maintaining stable operations[46]. - The company has adapted its business strategy in response to the pandemic, improving operational efficiency and gradually restoring sales to normal levels by the fourth quarter[47]. - The company plans to strengthen its supply chain and inventory management to improve profitability and respond to market changes[85]. - The domestic market development strategy aims to increase the domestic sales proportion while enhancing the influence of the "Rebecca" brand[85]. Research and Development - The company increased its R&D expenses by 5.47% to CNY 41,060,006.52, reflecting a commitment to product development despite overall revenue decline[53]. - The research and development of new products is a priority, aiming to drive future revenue growth and market competitiveness[200]. - The company actively participates in industry standards and has been involved in drafting several national technical standards for the wig industry[40]. Environmental and Corporate Governance - The company has complied with environmental regulations, achieving standard emissions for wastewater and air pollutants[107]. - The company has been recognized as a "provincial green enterprise" and "provincial green factory" for its environmental management efforts[108]. - The company has established an emergency response plan for environmental incidents, with no such incidents reported during the reporting period[110]. - The company has a well-defined corporate governance structure that complies with relevant laws and regulations, ensuring clear responsibilities and effective decision-making[137]. - The company has implemented a robust information disclosure system, ensuring timely, accurate, and complete information dissemination to protect investor interests[139]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 51,252, a decrease from 52,713 at the end of the previous month[113]. - The largest shareholder, Henan Ruibeka Holdings Co., Ltd., held 381,538,217 shares, representing 33.71% of the total shares[117]. - The company has not disclosed any significant related party transactions or major contracts during the reporting period[104][105]. - The company has not proposed a cash profit distribution plan for the fiscal year 2020, despite having positive distributable profits[96]. Employee and Management Information - The total number of employees in the parent company is 4,042, while the total number of employees in major subsidiaries is 4,855, resulting in a combined total of 8,897 employees[132]. - The company maintains a competitive and fair compensation policy, with a mixed compensation strategy that includes fixed salaries, performance bonuses, and allowances[133]. - The company emphasizes employee training and has a structured training program that includes various levels and types of training, ensuring alignment with business needs[134]. - The total pre-tax remuneration for all directors, supervisors, and senior management during the reporting period amounted to 1.8964 million yuan[130]. Financial Strategy and Future Outlook - The company’s financial strategy includes a focus on improving comprehensive income and managing equity more effectively moving forward[200]. - The company plans to enhance its market expansion efforts to recover from the recent declines in income and capital contributions[200]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its offerings[200].

Financial Performance - Operating revenue for the first nine months fell by 40.54% to CNY 843,958,889.14 compared to the same period last year[6]. - Net profit attributable to shareholders decreased by 94.80% to CNY 9,555,400.56 for the first nine months[6]. - Basic earnings per share dropped by 94.83% to CNY 0.0084[6]. - Cash flow from operating activities decreased by 61.54% to CNY 33,361,364.43 for the first nine months[6]. - The company's operating income for the first nine months of 2020 was CNY 843,958,889.14, a decrease of 40.54% compared to CNY 1,419,276,771.93 in the same period last year, primarily due to the impact of the pandemic on sales[15]. - Net profit for the first nine months of 2020 was CNY 8,596,749.39, down 95.32% from CNY 183,865,521.11 in the previous year, attributed to decreased sales revenue and increased foreign exchange losses[15]. - The company reported a total profit loss of ¥4,051,902.40 for Q3 2020, compared to a profit of ¥68,557,951.78 in Q3 2019[28]. - The total profit for the first three quarters of 2020 was a loss of ¥27,501,174.43, compared to a profit of ¥34,801,608.66 in the same period of 2019[32]. Assets and Liabilities - Total assets decreased by 1.46% to CNY 4,952,410,400.57 compared to the end of the previous year[6]. - The total amount of short-term borrowings increased by 22.93% to CNY 1,303,217,470.96 from CNY 1,060,166,509.86, primarily to repay part of the long-term borrowings and replenish working capital[15]. - The company's current liabilities due within one year rose by 41.67% to CNY 340,000,000.00 from CNY 240,000,000.00, mainly due to a long-term loan being reclassified[15]. - Current liabilities increased from ¥1,503,252,603.06 to ¥1,794,840,848.05, representing a rise of about 19.4%[22]. - Total liabilities reached CNY 2,157,838,186.29, with current liabilities at CNY 1,503,252,603.06 and non-current liabilities at CNY 654,585,583.23[42]. - Owner's equity decreased from ¥2,868,055,468.41 to ¥2,806,333,457.42, a drop of about 2.2%[22]. Cash Flow - Cash flow from investing activities showed a net outflow of CNY -1,414,590.12, a reduction compared to CNY -5,554,648.62 in the previous period, indicating decreased investment activities[15]. - The company's cash flow from operating activities in the first three quarters of 2020 was ¥883,399,140.40, a decrease from ¥1,363,594,757.98 in the same period of 2019[34]. - The cash outflow from investing activities in Q3 2020 was ¥6,462,791.69, compared to ¥9,538,541.49 in Q3 2019, indicating a reduction of 32.5%[35]. - The net cash flow from investing activities for the first nine months of 2020 was ¥20,923,760.26, a decrease of 36.8% from ¥33,108,723.55 in the same period of 2019[38]. Shareholder Information - The total number of shareholders reached 49,460[11]. - The largest shareholder, Henan Ruibeka Holdings, holds 33.71% of the shares, with 275 million shares pledged[11]. Government Support - The company received government subsidies amounting to CNY 7,686,158.40 during the reporting period[9]. Changes in Accounting Standards - The company has adopted new revenue recognition standards starting from 2020, impacting revenue recognition and measurement[46]. - The cumulative impact of the new revenue standards was adjusted to retained earnings as of January 1, 2020[46]. - The company did not adjust comparative period information under the new revenue standards[47].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥499,173,059.22, a decrease of 47.25% compared to ¥946,374,638.61 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2020 was ¥17,615,959.22, down 85.51% from ¥121,533,597.94 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥11,171,502.23, a decline of 90.62% compared to ¥119,143,912.90 in the same period last year[20]. - The net cash flow from operating activities was -¥14,831,779.54, compared to ¥64,845,062.07 in the previous year, indicating a significant cash outflow[20]. - Basic earnings per share for the first half of 2020 were ¥0.0156, down 85.47% from ¥0.1074 in the same period last year[21]. - The weighted average return on equity decreased by 3.59 percentage points to 0.62% from 4.21% in the previous year[21]. - The company reported a total profit of 6,444,456.99 RMB for the period, with a tax impact of 871,157.68 RMB[23]. - The company reported a revenue of ¥499,173,059.22, a decrease of 47.25% compared to the same period last year[36]. - Net profit attributable to shareholders was ¥17,615,959.22, down 85.51% year-on-year[36]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,046,697,953.70, a slight increase of 0.41% from ¥5,025,893,654.70 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 1.61% to ¥2,817,670,259.98 from ¥2,863,802,659.23 at the end of the previous year[20]. - Short-term borrowings increased by 27.38% to CNY 1.35 billion, primarily due to the repayment of part of long-term borrowings and to supplement liquidity[45]. - Accounts receivable decreased by 35.69% to CNY 3.08 million, attributed to accelerated collection of sales proceeds from flame-retardant fiber[45]. - The company's total assets at the end of the reporting period were approximately CNY 111.89 million, with net assets of CNY 95.62 million, and a net profit of CNY 16.91 million[48]. - The total liabilities as of June 30, 2020, were CNY 2,195,549,472.16, compared to CNY 2,131,225,258.52 at the end of 2019[102]. Market and Sales - The company operates a complete industrial chain with a global sales market layout, exporting primarily to North America, Africa, Europe, and Asia[33]. - The North American market remains a key consumer market for hair products, particularly among the African American population[29]. - The company has a diversified sales model, utilizing both ODM/OEM and direct sales strategies in international markets[27]. - Online retail sales showed stable growth as the company shifted focus to e-commerce amid offline sales disruptions[37]. - The company launched a new brand and collaborated with beauty salons to enhance market penetration and meet diverse consumer needs[37]. - The company experienced a significant decline in international sales, with North America down 35.17% and Europe down 60.88%[44]. Research and Development - The company has achieved a total of 416 patents, including 21 authorized independent invention patents, showcasing its strong research and development capabilities[32]. - Research and development expenses were ¥15,308,738.64, a decrease of 20.03% year-on-year[43]. - The company's research and development expenses for the first half of 2020 were ¥12,196,541.41, down from ¥18,527,322.22 in the first half of 2019[109]. Corporate Governance and Compliance - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[6]. - The company has not disclosed any major related party transactions or changes in related party transactions during the reporting period[66]. - The company has not made any changes to its accounting firm during the reporting period[61]. - The company has not disclosed any significant changes in accounting policies or estimates compared to the previous accounting period[72]. - The company has not disclosed any major contracts or their performance status during the reporting period[66]. Environmental Responsibility - The company strictly complies with national environmental protection laws, achieving pollutant discharge standards with wastewater COD and ammonia nitrogen concentrations at 36.02 mg/L and 2.21 mg/L, respectively, against limits of 50 mg/L and 8-10 mg/L[67]. - Air pollutants including dust, ammonia nitrogen, and sulfur dioxide were discharged at concentrations of 71 mg/m³, 299 mg/m³, and 383 mg/m³, respectively, meeting the regulatory limits of 80 mg/m³, 400 mg/m³, and 400 mg/m³[67]. - The company has established an environmental self-monitoring plan, conducting quarterly self-monitoring and accepting supervision from environmental protection departments[71]. - No significant environmental incidents occurred during the reporting period, and an emergency response plan for environmental incidents is in place[70]. Financial Strategy and Future Outlook - The company aims to closely monitor global economic trends and adjust its production and operational strategies accordingly[51]. - The company plans to enhance its domestic market share and diversify its market presence to mitigate risks associated with international trade[54]. - Future guidance indicates a cautious outlook, with an emphasis on cost management and operational efficiency improvements[125]. - The company is exploring new market opportunities to enhance revenue streams and mitigate losses[125]. Shareholder Information - The total number of common stock shareholders was 51,168[78]. - The total number of shares held by the largest shareholder, Henan Ruibeka Holdings Co., Ltd., is 381,538,217 shares, representing a significant portion of the company's equity[80]. - The second-largest shareholder, Hong Kong Central Clearing Limited, holds 23,532,475 shares, indicating strong institutional interest[80]. - The company has not implemented any stock incentive plans for directors, supervisors, or senior management during the reporting period, indicating a focus on traditional compensation methods[82]. Financial Instruments and Accounting Policies - The company follows the accounting treatment for business combinations under common control and non-common control, with specific measurement criteria for assets and liabilities at the date of acquisition[173]. - Financial instruments are classified into three categories based on the business model and cash flow characteristics, including those measured at amortized cost and fair value[181]. - The company applies consistent accounting policies across its subsidiaries, ensuring uniformity in financial reporting[177]. - The fair value of financial assets or liabilities is determined based on active market quotes or valuation techniques using observable market data[191].

Financial Performance - The company's operating revenue for 2019 was CNY 1,819,293,409.70, a decrease of 3.30% compared to CNY 1,881,348,591.94 in 2018[21]. - The net profit attributable to shareholders for 2019 was CNY 211,789,483.21, down 9.56% from CNY 234,163,898.60 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 204,962,163.73, a decrease of 10.87% compared to CNY 229,956,277.38 in 2018[21]. - Basic earnings per share decreased by 9.57% to CNY 0.1871 in 2019 compared to CNY 0.2069 in 2018[22]. - Diluted earnings per share also decreased by 9.57% to CNY 0.1871 in 2019 compared to CNY 0.2069 in 2018[22]. - The weighted average return on equity fell to 7.23% in 2019, down from 8.51% in 2018, a decrease of 1.28 percentage points[22]. - Overall main business revenue was ¥1,778,528,064.21, a year-on-year decline of 3.59%, with net profit attributable to shareholders at ¥211,789,483.21, down 9.56%[48]. - The company's total revenue for 2019 reached approximately 702.31 million, with a net profit of about 177.58 million, indicating a strong performance in the wig products sector[76]. Cash Flow and Assets - The cash flow from operating activities for 2019 was CNY 151,436,344.53, a significant recovery from a negative cash flow of CNY -106,477,782.76 in 2018[21]. - The total assets at the end of 2019 were CNY 5,025,893,654.70, an increase of 3.31% from CNY 4,864,930,174.68 in 2018[21]. - The net assets attributable to shareholders at the end of 2019 were CNY 2,863,802,659.23, a slight increase of 0.25% from CNY 2,856,519,061.89 in 2018[21]. - The net cash flow from operating activities for 2019 was ¥151,436,344.53, a significant improvement from -¥106,477,782.76 in 2018[193]. - The ending balance of cash and cash equivalents increased to ¥450,288,757.26 in 2019 from ¥340,497,315.80 in 2018, reflecting a growth of about 32.4%[194]. Market and Sales Performance - The decline in revenue was primarily due to a drop in sales in the US market, influenced by changes in consumer demand and the impact of US-China trade tensions[44]. - Sales revenue from the North American market decreased by 10.41%, while the gross margin increased by 6.05 percentage points due to a higher proportion of high-margin human hair wig sales[55]. - Revenue from human hair wigs increased by 34.36% due to strong market demand, while synthetic wigs saw an 8.08% decline attributed to tariff impacts and substitution effects[55]. - The company has established 201 stores in first- and second-tier cities across China, including 76 direct-operated stores and 125 franchise stores[35]. - Revenue from the African market was ¥888,844,359.75, making up 49.98% of total revenue, with a slight decline of 0.73% from the previous year[75]. Research and Development - The company holds 406 patents, including 16 authorized invention patents, showcasing its research and development capabilities[40]. - Research and development expenses totaled 38,928,836.97 RMB, representing 2.14% of total revenue, with 598 R&D personnel making up 6.65% of the total workforce[65]. - The company is committed to enhancing its technological innovation and R&D capabilities to drive growth and maintain competitiveness in the market[81]. Operational Strategies - The company emphasizes the importance of market conditions affecting its future development strategies and operational plans[6]. - The company is transitioning its sales model to include e-commerce and brand retail to adapt to market changes, although progress has been slow due to trade tensions[51]. - The company is focusing on enhancing user experience and exploring new retail solutions in the North American market[34]. - The company aims to enhance its brand strategy and global marketing system, focusing on high-quality and fashionable wig products to capture a larger market share[80]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.30 per 10 shares, totaling CNY 33,959,563.20, subject to shareholder approval[5]. - The cash dividend for the 2018 fiscal year was 0.50 RMB per 10 shares, totaling 56,599,272.00 RMB, which was 24.17% of the net profit attributable to shareholders[90]. - The board of directors has proposed a three-year shareholder return plan (2018-2020) to enhance transparency in profit distribution[89]. Environmental and Social Responsibility - The company strictly complies with national environmental protection laws and regulations, achieving standard emissions for wastewater with concentrations of 36.02 mg/L for COD and 2.21 mg/L for ammonia nitrogen, below the limits of 50 mg/L and 8-10 mg/L respectively[106]. - The company has established a robust environmental management responsibility system and improved its pollution prevention facilities, ensuring all pollutants are treated and disposed of safely[107]. - The company has actively fulfilled its social responsibilities, with a detailed report available on its website[105]. Governance and Compliance - The governance structure of the company is compliant with relevant laws and regulations, ensuring effective decision-making and protection of shareholder interests[137]. - The company has established a robust information disclosure system, ensuring that disclosures are truthful, accurate, complete, timely, and fair[139]. - The board of directors has established a performance evaluation and incentive mechanism for senior management, linking compensation to company performance and individual objectives[143].

Financial Performance - Operating revenue for the first quarter was CNY 262,737,549.70, representing a 42.39% decrease year-on-year[5] - Net profit attributable to shareholders was CNY 14,610,273.00, down 70.80% from the same period last year[5] - Basic earnings per share decreased by 70.81% to CNY 0.0129 from CNY 0.0442 in the previous year[5] - The weighted average return on equity decreased by 1.45 percentage points to 0.29%[5] - Total revenue for Q1 2020 was CNY 262,737,549.70, a decrease of 42.4% compared to CNY 456,082,958.00 in Q1 2019[24] - Net profit for Q1 2020 was CNY 14,458,248.60, a decline of 71.1% from CNY 50,060,916.78 in Q1 2019[25] - Operating profit for Q1 2020 was CNY 16,555,042.55, down 69.0% from CNY 53,343,396.41 in Q1 2019[25] - The company reported a decrease in research and development expenses to CNY 8,130,069.32 in Q1 2020 from CNY 8,504,467.20 in Q1 2019[24] Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 47,911,226.23, a decline of 266.52% compared to the previous year[5] - The cash flow from operating activities for Q1 2020 was negative at approximately -¥47.91 million, a decline from a positive cash flow of ¥28.77 million in Q1 2019[31] - The company reported a decrease in cash and cash equivalents, which may impact liquidity and operational flexibility moving forward[17] - The total cash and cash equivalents at the end of Q1 2020 were approximately ¥439.35 million, an increase from ¥369.91 million at the end of Q1 2019[32] - The net increase in cash and cash equivalents was -12,254,109.42 and 69,747,764.63, highlighting a decrease in liquidity in the latest quarter[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,033,826,566.46, a 0.16% increase compared to the end of the previous year[5] - Current assets totaled ¥4,043,642,719.29, compared to ¥4,020,269,448.77 at the end of 2019, reflecting a growth of approximately 0.58%[18] - Total liabilities reached ¥2,169,620,805.16, up from ¥2,157,838,186.29, marking an increase of approximately 0.76%[19] - The company's equity attributable to shareholders was ¥2,860,104,976.52, slightly down from ¥2,863,802,659.23, indicating a decrease of about 0.10%[19] Shareholder Information - The total number of shareholders at the end of the reporting period was 54,403[10] - The largest shareholder, Henan Ruibeka Holding Co., Ltd., held 33.71% of the shares, with 180,000,000 shares pledged[10] Government Support and Initiatives - The company received government subsidies amounting to CNY 4,260,000.00 during the reporting period[8] - The company is in the process of relocating its production line to a new industrial area as part of a government initiative, with the land being converted to commercial and residential use[13] Future Plans and Commitments - The company is planning a non-public stock issuance to fund overseas investments and marketing network construction, which is currently under progress amid complex trade conditions[14] - The company has not disclosed any overdue commitments during the reporting period[15] - The company has not issued any warnings regarding potential losses or significant changes in net profit compared to the previous year[15] Financial Reporting - The report is unaudited as of March 31, 2020, and the financial statements are prepared in RMB[16]

Financial Performance - Net profit attributable to shareholders was CNY 183,907,994.82, a decrease of 0.39% year-on-year[6]. - Operating revenue for the first nine months was CNY 1,419,276,771.93, down 3.09% from the same period last year[6]. - Total operating revenue for Q3 2019 was $472.90 million, a slight decrease of 0.13% compared to $475.53 million in Q3 2018[28]. - Net profit for Q3 2019 reached $62.32 million, an increase of 3.71% from $59.14 million in Q3 2018[30]. - The company reported a total profit of $68.56 million for Q3 2019, compared to $66.42 million in Q3 2018, marking an increase of 3.21%[30]. - The company achieved a total revenue of CNY 778,929,155.13 for the first nine months of 2019, down from CNY 905,248,399.36 in the same period of 2018[43]. Cash Flow - The net cash flow from operating activities was CNY 86,746,789.03, compared to a negative cash flow of CNY 16,738,469.74 in the previous year[6]. - Total cash inflow from operating activities was CNY 1,379,322,700.78, while cash outflow was CNY 1,292,575,911.75, resulting in a net cash flow of CNY 86,746,789.03[39]. - Cash inflow from financing activities was CNY 841,462,352.51, while cash outflow totaled CNY 908,875,830.95, leading to a net cash flow of CNY -67,413,478.44[40]. - The company reported a total cash and cash equivalents balance of CNY 341,948,130.21 at the end of the reporting period, compared to CNY 449,350,969.04 at the end of the previous year[40]. - The net cash flow from operating activities for the first nine months of 2019 was CNY 63,997,263.25, a recovery from a loss of CNY -142,114,986.23 in the previous year[43]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,836,794,864.83, a decrease of 0.58% compared to the end of the previous year[6]. - Total liabilities reached CNY 2,014,316,534.97, compared to CNY 1,981,876,705.22 in the previous year[26]. - The company's equity attributable to shareholders was CNY 2,549,900,700.42, down from CNY 2,622,320,355.74[26]. - The total current assets as of September 30, 2019, amounted to RMB 3,910,919,753.69, compared to RMB 3,794,899,270.90 at the beginning of the year[20]. - Current liabilities totaled CNY 1,470,403,339.38, down from CNY 1,719,144,038.93 in the previous year[26]. Shareholder Information - The total number of shareholders was 54,850 at the end of the reporting period[10]. - The largest shareholder, Henan Rebecca Holding Co., Ltd., held 381,538,217 shares, accounting for 33.71% of total shares[10]. Operational Changes - The company has reached an agreement with local government regarding the relocation of its production line, which is expected to impact future operations positively[16]. - The company is in the process of a non-public stock issuance aimed at overseas investment and market expansion, with ongoing developments amid complex trade conditions[16]. Comprehensive Income - Other comprehensive income showed a significant decline of 94.04%, reaching RMB -349,185,462.35, mainly due to the drop in stock prices of Zhongyuan Bank[15]. - Total comprehensive income for Q3 2019 was -¥15,918,698.21, compared to ¥51,800,760.10 in Q3 2018, marking a significant decline[36]. Research and Development - Research and development expenses for Q3 2019 were $10.46 million, slightly down from $10.70 million in Q3 2018[28]. - Research and development expenses for Q3 2019 were ¥8,908,414.52, a decrease from ¥10,347,617.03 in Q3 2018, indicating a reduction of approximately 13.9%[34].