Financial Performance - Net profit attributable to shareholders was CNY 183,907,994.82, reflecting 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 approximately $472.9 million, a slight decrease of 0.13% compared to Q3 2018's $475.5 million[27]. - Net profit for Q3 2019 reached approximately $62.3 million, representing an increase of 3.7% from $59.1 million in Q3 2018[29]. - The company reported a total profit of approximately $68.6 million for Q3 2019, compared to $66.4 million in Q3 2018, marking a 3.2% increase[29]. - The company’s total revenue for the first three quarters of 2019 was approximately $1.42 billion, a decrease of 3.1% from $1.46 billion in the same period of 2018[27]. - The total profit for Q3 2019 was ¥34,801,608.66, compared to ¥60,708,965.45 in Q3 2018, indicating a decline of approximately 42.7%[34]. Cash Flow - The net cash flow from operating activities was CNY 86,746,789.03, a significant improvement from 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[38]. - Cash inflow from financing activities was CNY 841,462,352.51, with cash outflow totaling CNY 908,875,830.95, leading to a net cash flow of CNY -67,413,478.44[39]. - The company reported a significant decrease in cash flow from operating activities, with a net cash flow of CNY 63,997,263.25 for the first nine months of 2019, compared to a loss of CNY -142,114,986.23 in the same period of 2018[42]. 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]. - The total current assets as of September 30, 2019, amounted to RMB 3,910,919,753.69, up from RMB 3,794,899,270.90 at the beginning of the year[19]. - The company reported a total liability of CNY 2,014,316,534.97, compared to CNY 1,981,876,705.22 in the previous year[25]. - Total liabilities reached CNY 2,003,884,292.73, with current liabilities at CNY 1,741,151,626.44 and non-current liabilities at CNY 262,732,666.29[47]. - The company’s total non-current assets were CNY 1,250,792,609.26, down from CNY 1,384,628,683.81, indicating a reduction in long-term investments[24]. Shareholder Information - The total number of shareholders at the end of the reporting period was 561,240[9]. - The largest shareholder, Henan Rebecca Holdings Co., Ltd., held 33.71% of the shares[9]. - The company’s total equity attributable to shareholders was CNY 2,814,597,535.73, a decrease from CNY 2,856,519,061.89[21]. Inventory and Receivables - The company's inventory increased to RMB 3,194,789,352.43 from RMB 3,161,832,775.79, indicating a rise in stock levels[19]. - Accounts receivable slightly decreased to CNY 527,805,689.08 from CNY 530,694,583.95, indicating stable collection performance[24]. - Inventory increased to CNY 1,660,400,035.13 from CNY 1,631,042,802.33, suggesting a buildup of stock[24]. Financial Ratios and Metrics - The weighted average return on equity decreased by 0.68 percentage points to 6.19%[6]. - Basic earnings per share were CNY 0.1625, a decrease of 0.37% compared to the previous year[6]. - The gross profit margin for Q3 2019 was approximately 14.4%, compared to 13.5% in Q3 2018, indicating improved profitability[27]. Other Developments - The company has not disclosed any new product developments or market expansion strategies in this report[6]. - The company is in the process of relocating its production line as part of a government initiative, with ongoing negotiations regarding compensation and land use[15]. - The company is planning a non-public stock issuance to fund overseas investments and marketing network construction, with progress ongoing despite challenges from trade tensions[15].

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 946,374,638.61, representing a decrease of 4.31% compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 121,533,597.94, down 3.24% year-on-year[20]. - Basic earnings per share for the first half of 2019 were CNY 0.1074, a decrease of 3.24% compared to the same period last year[21]. - The weighted average return on net assets was 4.21%, a decrease of 0.39 percentage points year-on-year[21]. - The company reported a total revenue of 19,316,053 RMB for the first half of 2019[81]. - The net profit for the first half of 2019 was CNY 56,412,055.93, compared to CNY 66,519,859.03 in the same period of 2018, reflecting a decrease of about 15%[113]. - The total comprehensive income for the first half of 2019 was CNY 20,822,773.78, significantly lower than CNY 92,844,477.07 in the same period of 2018[110]. - The company reported a net profit margin of -3.5% for the period, indicating challenges in profitability[125]. Cash Flow and Financial Position - The net cash flow from operating activities increased by 9.20% to CNY 64,845,062.07 compared to the previous year[20]. - The total assets at the end of the reporting period were CNY 4,819,218,440.05, a decrease of 0.94% from the end of the previous year[20]. - The total liabilities decreased to CNY 1.99 billion from CNY 2.00 billion, reflecting a reduction of about 0.47%[102]. - The company's cash and cash equivalents amounted to CNY 346.37 million, slightly up from CNY 345.10 million[100]. - The company's current ratio increased to 2.20 from 2.18, reflecting a 0.92% increase due to the growth in current assets[94]. - The total cash inflow from financing activities was CNY 500,725,860.00, up from CNY 409,235,950.00 in the previous year, reflecting a 22.5% increase[118]. - Cash outflow for debt repayment amounted to CNY 524,545,384.31, significantly higher than CNY 223,393,000.00 in the prior year, representing an increase of 135.5%[118]. Market and Operational Insights - The company has established a global supply chain with 13 wholly-owned subsidiaries overseas, including 9 sales companies and 3 production companies[27]. - The North American market is the largest consumer market for hair products, with a stable demand from the African American community[30]. - The African market is growing rapidly and is expected to become the largest consumer market for hair products globally[31]. - The company has established a complete industrial chain and global sales market layout, with significant operations in North America, Africa, Europe, and Asia[35]. - The company highlighted potential risks in its operational discussion, urging investors to be cautious[6]. Risks and Challenges - The company faces macroeconomic risks due to its export-oriented business model, which is significantly affected by global economic conditions and trade policies[52]. - The ongoing US-China trade tensions pose a risk of increased tariffs on exports, potentially affecting future operating performance[54]. - The company is exposed to exchange rate fluctuation risks, impacting the value of foreign currency assets and liabilities[53]. - The company operates 12 wholly-owned subsidiaries abroad, facing potential operational risks due to differences in political, economic, social, and legal environments, particularly in underdeveloped regions like Africa[56]. Research and Development - The company is recognized as a national high-tech enterprise and has made significant technological advancements in new products and materials[34]. - Research and development expenses for the first half of 2019 were CNY 19,143,488.75, up from CNY 16,256,463.88 in the same period of 2018, showing a commitment to innovation[109]. - The company is focusing on technological advancements to improve product offerings and customer satisfaction[142]. Shareholder and Capital Structure - The total number of ordinary shareholders as of the end of the reporting period is 59,087[80]. - The largest shareholder, Henan Ruibeka Holding Co., Ltd., holds 381,538,217 shares, accounting for 33.71% of total shares[80]. - The company has issued bonds with a total balance of 40,000,000 RMB at an interest rate of 5.68%[88]. - The bond proceeds are intended to be used for repaying financial institution loans and supplementing working capital[90]. Compliance and Governance - The financial reports must be approved by the company's board of directors before release, with the current report approved on August 28, 2019[169]. - The company adheres to the Chinese Accounting Standards and has confirmed its ability to continue as a going concern for at least 12 months from the reporting date[173]. - The company has not reported any major litigation or arbitration matters during the reporting period[60].

证券代码：600439 证券简称：瑞贝卡 公告编号：临2019-012 债券代码：136076 债券简称：15瑞贝卡 河南瑞贝卡发制品股份有限公司 关于参加"互动感受诚信 沟通创造价值" 2019年河南上市公司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: ●网上交流时间：2019年6月27日（星期四）16:00—17:30 ●网上交流渠道：投资者互动平台（http://rs.p5w.net） 一、说明会类型 2019 年 6 月 19 日，河南瑞贝卡发制品股份有限公司（以下简称"公司"或"本 公司"）接到《关于举办"互动感受诚信 沟通创造价值"—2019 年河南上市公司投 资者网上集体接待日活动的通知》（豫上协字【2019】 5 号）。为便于广大投资者更 全面深入地了解公司生产经营情况，构建互信共赢的投资者关系，公司积极报名参加 了本次网上集体接待日活动。 公司已于 2019 年 4 月 27 日公告了《2018 年年度报告》（详见 2019 年 4 月 27 日 《上海 ...

Financial Performance - Operating revenue for the period was CNY 456,082,958.00, representing a decrease of 1.63% year-on-year[7] - Net profit attributable to shareholders of the listed company was CNY 50,038,916.84, an increase of 0.34% compared to the same period last year[7] - Basic earnings per share were CNY 0.0442, a slight increase of 0.23% compared to the previous year[7] - Total operating revenue for Q1 2019 was ¥456,082,958, a decrease of 1.2% from ¥463,639,388 in Q1 2018[25] - Net profit for Q1 2019 was ¥50,060,917, an increase of 0.5% compared to ¥49,828,630 in Q1 2018[26] - The total profit for Q1 2019 was ¥55,815,792, a slight decrease from ¥56,021,002 in Q1 2018[26] - The company reported a total comprehensive income of -¥18,607,861 for Q1 2019, contrasting with a positive comprehensive income of ¥575,766 in Q1 2018[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,846,375,848.67, a decrease of 0.38% compared to the end of the previous year[7] - The company's total equity decreased to CNY 2,842,968,541.16 from CNY 2,861,045,881.95, showing a decline in shareholder equity[18] - Current liabilities totaled CNY 1,744,236,222.47, compared to CNY 1,741,151,626.44 in the previous period, indicating a stable liability position[18] - Non-current liabilities were recorded at CNY 259,171,085.04, down from CNY 262,732,666.29, reflecting a reduction in long-term financial obligations[18] - Total liabilities decreased slightly to CNY 2,003,407,307.51 from CNY 2,003,884,292.73, indicating effective debt management[18] - Total liabilities reached CNY 2,003,884,292.73, with current liabilities at CNY 1,741,151,626.44 and non-current liabilities at CNY 262,732,666.29[41] Cash Flow - Net cash flow from operating activities was CNY 28,772,910.68, down 24.74% from the previous year[7] - The net cash flow from operating activities in Q1 2019 was CNY 28.77 million, down 24.9% from CNY 38.23 million in Q1 2018[33] - The net cash flow from financing activities dropped significantly by 88.06% to RMB 30,137,323.71 compared to RMB 252,483,666.66 in the previous period, primarily due to a reduction in net borrowings[13] - The total cash and cash equivalents at the end of Q1 2019 was CNY 369.91 million, down from CNY 640.17 million at the end of Q1 2018[34] Shareholder Information - Net assets attributable to shareholders of the listed company were CNY 2,838,419,721.16, down 0.63% from the previous year[7] - The total number of shareholders at the end of the reporting period was 58,811[9] - The largest shareholder, Henan Ruibeka Holding Co., Ltd., held 381,538,217 shares, accounting for 33.71% of the total shares[9] Inventory and Receivables - Accounts receivable increased to RMB 182,600,661.78 from RMB 175,988,788.75, reflecting a growth in sales activity[16] - The company's inventory decreased slightly to RMB 3,147,169,165.83 from RMB 3,161,832,775.79, indicating improved inventory management[16] - Accounts receivable decreased to CNY 500,757,352.98 from CNY 530,694,583.95, suggesting a tighter credit control[21] - Inventory levels increased to CNY 1,659,100,310.10 from CNY 1,631,042,802.33, reflecting a strategic decision to stock more goods[21] Government Support and Future Plans - The company received government subsidies amounting to CNY 2,529,500 related to its normal business operations[8] - The company has reached an agreement with local government regarding the relocation of its production line, which is expected to impact future operations positively[14] - The company is in the process of planning a non-public stock issuance aimed at overseas investments and building a foreign marketing network, with ongoing developments expected[14] Other Financial Metrics - The weighted average return on net assets decreased by 0.11 percentage points to 1.74%[7] - Other comprehensive income showed a loss of RMB 248,623,990.94, a 38.16% increase in loss compared to RMB 179,955,213.37, mainly due to foreign exchange differences and decreases in the fair value of available-for-sale financial assets[13] - Research and development expenses increased to ¥8,504,467, up 10.5% from ¥7,698,615 in Q1 2018[25] - Financial expenses decreased significantly to ¥39,872,128, down 21.3% from ¥50,599,106 in the previous year[25]

Financial Performance - The company's operating revenue for 2018 was CNY 1,881,348,591.94, a decrease of 3.35% compared to CNY 1,946,650,665.98 in 2017[21] - The net profit attributable to shareholders for 2018 was CNY 234,163,898.60, an increase of 8.85% from CNY 215,117,358.07 in 2017[21] - The net profit after deducting non-recurring gains and losses was CNY 229,956,277.38, up by 8.03% from CNY 212,872,069.94 in 2017[21] - Basic earnings per share for 2018 increased by 8.89% to CNY 0.2069 compared to CNY 0.1900 in 2017[22] - Diluted earnings per share for 2018 also rose by 8.89% to CNY 0.2069 from CNY 0.1900 in 2017[22] - The gross profit margin for the period was 34.85%, down by 1.66 percentage points compared to the previous year[52] - The company's EBITDA for the reporting period was approximately CNY 390.26 million, representing an increase of 8.69% compared to CNY 359.07 million in the previous period[169] - The total comprehensive income of CNY 246,691,962.56 for 2018, down from CNY 388,996,134.30 in the previous year[200] Cash Flow and Assets - The cash flow from operating activities showed a net outflow of CNY -106,477,782.76, a significant decrease of 163.10% compared to a net inflow of CNY 168,735,398.57 in 2017[21] - The total assets at the end of 2018 were CNY 4,864,930,174.68, reflecting a growth of 9.28% from CNY 4,451,679,936.27 at the end of 2017[21] - The net assets attributable to shareholders increased to CNY 2,856,519,061.89, a rise of 7.16% from CNY 2,665,727,066.78 in 2017[21] - The company's inventory balance as of December 31, 2018, was CNY 3.16 billion, accounting for 64.99% of total assets, highlighting its significance as a core asset[177] - Total current assets decreased from CNY 3,380,546,028.15 to CNY 3,794,899,270.90, representing an increase of approximately 12.2%[190] - Cash and cash equivalents decreased from CNY 396,888,124.25 to CNY 345,097,950.94, a decline of about 13.0%[190] Market and Sales - The company operates a global supply chain with 12 wholly-owned subsidiaries abroad, including 9 sales companies and 3 production companies[34] - The company has established a comprehensive international e-commerce platform to enhance its market presence in North America[34] - In the U.S. market, the company reported a revenue of ¥451,238,509.11, which is a decline of 17.42% compared to the previous year[44] - The company has established 82 direct-operated stores in major cities across China, with a total of 213 stores nationwide[35] - The company's main business revenue in the African market reached ¥895,403,629.74, representing a year-on-year growth of 1.29%[45] - The European market achieved sales revenue of ¥147,314,933.96, with a year-on-year increase of 3.48%[46] - Domestic sales revenue amounted to ¥248,209,737.63, reflecting a growth of 9.21% compared to the previous year[48] Research and Development - The company holds 16 invention patents, 43 utility model patents, and 28 design patents, showcasing its research and development capabilities[40] - Research and development expenses for 2018 were CNY 40,369,725.03, a decrease from CNY 46,837,595.36 in 2017[198] - The company is committed to innovation-driven development, enhancing its technological innovation and independent research capabilities[91] Risks and Compliance - The company faces significant risks from macroeconomic factors, including global economic instability and trade tensions, which could impact business performance[94] - Currency fluctuations pose a risk to the company's revenue, as it primarily conducts business in foreign currencies, affecting the value of foreign assets and liabilities[95] - The company is exposed to international trade risks, particularly due to U.S. trade protectionism, which may lead to increased tariffs on exports to the U.S.[96] - The company has complied with environmental regulations, achieving pollutant discharge standards for wastewater and air emissions, with specific discharge concentrations of 36.02 mg/L for COD and 71 mg/m³ for particulate matter[120][121] Shareholder and Governance - The company has established a three-year shareholder return plan (2018-2020) to enhance transparency and ensure reasonable returns for investors[101] - The company held one shareholders' meeting during the reporting period, adhering to legal and regulatory requirements for decision-making[152] - The board of directors held a total of 6 meetings during the year, including 3 in-person meetings and 2 conducted via communication methods[158] - The company has established a robust information disclosure system to ensure transparency and protect investor rights[154] Employee and Compensation - The total number of employees in the parent company is 4,351, while the total number of employees in major subsidiaries is 4,672, resulting in a combined total of 9,023 employees[147] - The company emphasizes a competitive and fair compensation policy, with a mixed compensation strategy based on performance and local market conditions[148] - The total pre-tax remuneration for all directors, supervisors, and senior management during the reporting period amounted to 1.28 million yuan[144]

Financial Performance - Net profit attributable to shareholders increased by 17.57% to CNY 184,629,982.27 for the first nine months of the year[8] - Operating revenue for the first nine months decreased slightly by 0.17% to CNY 1,464,573,870.56 compared to the same period last year[8] - Basic earnings per share increased by 17.59% to CNY 0.1631[8] - The weighted average return on equity improved by 0.30 percentage points to 6.87%[8] - The company's total equity reached approximately ¥2.77 billion, up from ¥2.67 billion, indicating a growth of 3.7%[27] - The net profit for Q3 2018 reached approximately ¥59.14 million, an increase of 14.67% compared to ¥51.82 million in Q3 2017[31] - The total profit for Q3 2018 was approximately ¥66.42 million, compared to ¥62.04 million in Q3 2017, marking an increase of 6.43%[31] - The company's operating revenue for Q3 2018 was approximately ¥331.52 million, a decrease of 9.36% compared to ¥365.99 million in Q3 2017[33] - Operating profit for the first nine months of 2018 was CNY 135,836,562.32, up from CNY 91,155,523.75 in the previous year, indicating a growth of 48.8%[34] Cash Flow - The net cash flow from operating activities showed a significant decline of 109.58%, resulting in a negative cash flow of CNY -16,738,469.74[8] - Cash flow from operating activities showed a net outflow of CNY 16,738,469.74 for the first nine months, a significant decline from a net inflow of CNY 174,785,729.26 in the previous year[37] - Operating cash flow for the year-to-date period (January to September) was negative at -142,114,986.23, compared to a positive cash flow of 200,937,617.53 in the same period last year, indicating a significant decline[40] - Total cash inflow from operating activities was 919,278,697.27, down from 1,074,139,265.38 year-over-year, reflecting a decrease of approximately 14.4%[40] - Cash outflow from operating activities increased to 1,061,393,683.50, compared to 873,201,647.85 in the previous year, representing a rise of about 21.5%[40] - The company reported a significant increase in cash flow from financing activities, with a net cash inflow of CNY 104,803,101.15 compared to a net outflow of CNY -74,068,712.65 in the previous period[16] - Cash inflow from financing activities totaled 409,235,950.00, down 36.8% from 647,744,000.00 in the previous year[41] - The ending cash and cash equivalents balance was 180,650,154.45, a decrease from 198,405,056.98 at the end of the same period last year[41] Assets and Liabilities - Total assets increased by 5.75% to CNY 4,707,812,286.90 compared to the end of the previous year[8] - The total assets increased from CNY 4,451,679,936.27 to CNY 4,707,812,286.90, indicating growth in the company's asset base[22] - The total liabilities increased from CNY 1,203,476,040.60 to CNY 1,360,373,442.77, reflecting changes in short-term and long-term borrowings[22] - Accounts receivable increased by 75.41% from CNY 6,698,798.61 to CNY 11,750,696.31 due to an increase in accepted bills[15] - Construction in progress rose by 120.54% from CNY 14,482,651.60 to CNY 31,939,920.91, attributed to the expansion of the chemical fiber workshop[15] - Other non-current assets decreased by 72.16% from CNY 17,737,320.00 to CNY 4,938,941.54 due to the transfer of prepayments to construction in progress[16] - Accounts payable decreased by 43.79% from CNY 64,896,893.09 to CNY 36,480,493.09, primarily due to the increase in bank acceptance bills and payments[16] - Total liabilities increased to approximately ¥1.94 billion from ¥1.78 billion, representing an increase of 9.5%[27] Research and Development - Research and development expenses increased by 51.72% from CNY 7,054,086.28 to CNY 10,702,461.97, reflecting ongoing investments in R&D projects[16] - The company's R&D expenses for Q3 2018 were approximately ¥10.70 million, up from ¥7.05 million in Q3 2017, indicating a growth of 51.67%[33] - Research and development expenses for the first nine months totaled CNY 25,875,965.97, slightly down from CNY 26,389,460.51 in the same period last year[34] Shareholder Information - The total number of shareholders reached 58,707[11] - The largest shareholder, Henan Ruibeka Holdings, holds 33.71% of the shares[11] - The total number of shares outstanding is 381,538,217 for Henan Ruibeka Holdings Co., Ltd. as of the end of the reporting period[13] Other Financial Metrics - Government subsidies recognized in the current period amounted to CNY 1,186,500.00[10] - Non-operating income and expenses resulted in a net loss of CNY -27,796.67 for the third quarter[10] - The company incurred financial expenses of CNY 24,958,963.90 for the first nine months, down from CNY 87,005,238.25 in the previous year[34] - The tax expenses for Q3 2018 were approximately ¥7.28 million, down from ¥10.21 million in Q3 2017, indicating a decrease of 28.56%[31] - The company's total assets impairment loss for Q3 2018 was approximately ¥1.86 million, compared to a gain of approximately ¥1.41 million in Q3 2017[33] - The company achieved investment income of CNY 7,747,917.46 in Q3 2018, with no comparable figure from the previous year[34] - The total comprehensive income for Q3 2018 was approximately ¥63.21 million, compared to ¥52.99 million in Q3 2017, an increase of 19.00%[32] - Total comprehensive income for Q3 2018 was CNY 51,800,760.10, compared to CNY 33,461,243.27 in Q3 2017, marking a growth of 55.0%[35]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥989,040,653.15, representing a 1.66% increase compared to ¥972,854,740.49 in the same period last year[18]. - Net profit attributable to shareholders was ¥125,601,021.94, a 19.36% increase from ¥105,227,114.88 year-on-year[19]. - The net cash flow from operating activities was ¥59,380,817.26, showing a 6.71% increase from ¥55,649,152.69 in the previous year[19]. - The total assets at the end of the reporting period were ¥4,667,702,028.61, up 4.85% from ¥4,451,679,936.27 at the end of the previous year[19]. - The net assets attributable to shareholders increased to ¥2,702,093,555.22, a 1.36% rise from ¥2,665,727,066.78 at the end of last year[19]. - Basic earnings per share for the first half of 2018 were ¥0.1110, reflecting a 19.35% increase from ¥0.0930 in the same period last year[20]. - The weighted average return on equity was 4.60%, an increase of 0.17 percentage points compared to 4.43% in the previous year[20]. - The company reported a decrease in financial and management expenses compared to the previous year, contributing to the increase in net profit[20]. Market Presence and Strategy - The company's main business is the research, production, and sales of hair products, with major products including human hair wigs and synthetic wigs, and it is the largest multinational enterprise in this sector in China[26]. - The company has established 8 sales subsidiaries and 3 production subsidiaries overseas, with a total of 11 subsidiaries globally, indicating a strong international presence[32]. - The North American market is the largest consumer market for hair products, driven by the high purchasing power of the African American population[28]. - The African market is the second largest for hair products, with a growing demand due to the increasing economic conditions and population base[30]. - The Asian market, while currently small in terms of consumption, shows potential for growth as consumer attitudes shift towards adopting hair products[30]. - The company plans to establish a wholly-owned sales subsidiary in the United States to enhance market presence and meet diverse consumer needs[39]. Financial Management and Investments - The company reported a decrease in research and development expenses by 20.69% to ¥16,256,463.88[44]. - The company’s financial expenses decreased by 30.77% to ¥47,693,143.24, indicating improved cost management[44]. - The company plans to invest USD 20 million in its wholly-owned subsidiary, UK Handel Ltd, to expand sales and enhance market competitiveness in the global wig market[69]. - A new wholly-owned sales subsidiary is planned to be established in the United States with an investment of USD 20 million, focusing on the sales and import-export trade of hair products[70]. - The company is actively progressing with a private placement to raise funds for overseas investments and the construction of a foreign marketing network[71]. Environmental and Regulatory Compliance - The company has implemented a comprehensive pollution control strategy, ensuring all pollutants are discharged within the legal limits[65]. - The company has established an emergency plan for environmental incidents, with no such incidents reported during the reporting period[67]. - The company has conducted environmental self-monitoring quarterly and complies with environmental protection regulations[68]. Shareholder and Equity Information - The total number of ordinary shareholders as of the reporting period end was 53,793[74]. - The largest shareholder, Henan Ruibeka Holdings, increased its holdings by 3,989,400 shares, totaling 370,046,617 shares, representing 32.69% of the company[76]. - The company completed the first phase of the employee stock ownership plan, purchasing 18,722,649 shares at an average price of RMB 7.59 per share, totaling RMB 142,158,403.95, representing 1.98% of the total share capital[59]. - The company reported a profit distribution of -56,599,272.00 RMB to shareholders, indicating a significant reduction in profit allocation compared to previous periods[118]. Debt and Financial Ratios - The company's current ratio decreased by 29.46% to 4.31, while the quick ratio increased by 23.13% to 1.06 compared to the previous year[91]. - The debt-to-asset ratio increased by 5.00% to 42.00% due to an increase in liabilities[91]. - The total bank credit granted to the company during the reporting period was ¥2.24 billion, with ¥1.226 billion utilized, and all principal and interest payments were made on time[93]. - The credit rating for the bond remains at AA, with a stable outlook, as confirmed by the rating agency[88]. Accounting Policies and Practices - The company’s financial reports are prepared based on the going concern principle and comply with the relevant accounting standards[155]. - The company’s accounting policies are in accordance with the Enterprise Accounting Standards and relevant laws and regulations[157]. - The company follows the acquisition method for business combinations, measuring the acquisition cost at fair value on the purchase date[163]. - Goodwill is recognized when the acquisition cost exceeds the fair value of identifiable net assets acquired[164]. - The company recognizes deferred tax assets related to deductible temporary differences if new information indicates that the economic benefits can be realized within 12 months after the acquisition date[164].

Financial Performance - Net profit attributable to shareholders increased by 15.23% to CNY 49,870,912.75 compared to the same period last year[7] - Operating revenue rose by 1.90% to CNY 463,639,387.83 year-on-year[7] - Basic earnings per share increased by 15.45% to CNY 0.0441 compared to the same period last year[7] - The weighted average return on equity slightly increased by 0.01 percentage points to 1.85%[7] - Total revenue for the first quarter was ¥463,639,387.83, up from ¥454,975,936.42, indicating a growth of about 1.5%[24] - Net profit for Q1 2018 was CNY 6,259,778.55, a decline of 63.3% compared to CNY 17,050,294.11 in the same period last year[29] - Total profit for Q1 2018 reached CNY 7,246,693.96, down from CNY 19,293,949.26 in the previous year[29] Cash Flow - Net cash flow from operating activities surged by 253.77% to CNY 38,233,435.65 compared to the previous year[7] - Cash flow from financing activities surged to CNY 252,483,666.66 from CNY 9,329,310.01, a significant increase of 2,606.35% due to increased borrowings[14] - The net cash flow from operating activities was 26,553,873.07 RMB, an increase from 8,096,904.24 RMB in the previous period, reflecting a significant improvement in operational efficiency[33] - Total cash inflow from financing activities amounted to 343,069,950.00 RMB, compared to 80,000,000.00 RMB in the previous period, indicating a strong increase in financing efforts[34] - The company reported a net increase in cash and cash equivalents of 275,239,087.99 RMB, up from 9,488,224.98 RMB in the previous period, highlighting improved liquidity[34] Assets and Liabilities - Total assets increased by 5.69% to CNY 4,705,191,034.64 compared to the end of the previous year[7] - Cash and cash equivalents increased by 62.46% to CNY 644,769,250.76 from CNY 396,888,124.25, primarily due to increased borrowings[14] - Current liabilities rose to ¥608,742,593.92 from ¥553,476,040.60, an increase of about 10%[19] - Long-term borrowings increased significantly to ¥850,000,000.00 from ¥650,000,000.00, representing a growth of 30.8%[23] - Total liabilities increased to ¥2,033,662,077.06 from ¥1,780,726,744.88, marking an increase of approximately 14.2%[20] Expenses - Tax and surcharges increased by 48.11% to CNY 7,067,232.45 from CNY 4,771,586.23, mainly due to an increase in urban construction tax and education fees[14] - Management expenses decreased by 30.14% to CNY 22,967,064.08 from CNY 32,874,201.60, due to adjustments in social security allocations[14] - Financial expenses increased by 59.71% to CNY 50,599,105.68 from CNY 31,682,634.70, primarily due to increased exchange losses[14] - Sales expenses increased to CNY 23,525,733.50, up from CNY 18,000,969.91 year-over-year[28] - Cash paid to employees decreased to 86,624,722.22 RMB from 117,391,721.23 RMB, reflecting cost control measures[33] Shareholder Information - The total number of shareholders reached 54,390 at the end of the reporting period[11] - The largest shareholder, Henan Ruibeka Holdings Co., Ltd., holds 32.69% of the shares[11] - The first phase of the employee stock ownership plan holds 22,467,179 shares as of March 31, 2018, following the completion of stock purchases[15] Other Income and Gains - Non-recurring gains and losses amounted to CNY 999,471.62 for the reporting period[10] - Other income amounted to CNY 4,887,571.45, reflecting the reclassification of sales tax refunds under new government subsidy guidelines[14] - The company incurred 10,569,978.95 RMB in dividend payments, slightly lower than 10,670,689.99 RMB in the previous period, suggesting a stable dividend policy[34]

Financial Performance - The company's operating revenue for 2017 was CNY 1,946,650,665.98, representing a 7.50% increase compared to CNY 1,810,858,985.54 in 2016[22] - The net profit attributable to shareholders of the listed company reached CNY 215,117,358.07, a 25.35% increase from CNY 171,606,552.23 in the previous year[22] - The total assets of the company as of the end of 2017 were CNY 4,451,679,936.27, reflecting a 4.42% increase from CNY 4,263,364,498.14 at the end of 2016[22] - Basic earnings per share increased by 25.33% to CNY 0.1900 in 2017 compared to CNY 0.1516 in 2016[23] - The company's net profit attributable to shareholders for Q1 2017 was CNY 43,278,054.17, while Q2, Q3, and Q4 net profits were CNY 61,949,060.71, CNY 51,807,152.48, and CNY 58,083,090.71 respectively[24] - The company's revenue for the reporting period reached approximately CNY 1.95 billion, representing a year-on-year growth of 7.50%[44] - The net profit attributable to shareholders was approximately CNY 215.12 million, reflecting a year-on-year increase of 25.35%[44] - The gross profit margin improved to 36.51%, an increase of 2.87 percentage points compared to the previous year[57] - The company achieved total revenue of CNY 1,946,650,665.98, representing a year-on-year growth of 7.50%[52] Investment and Expansion Plans - The company plans to increase its investment in its wholly-owned subsidiary, "UK Handel Ltd," by USD 20 million to expand into the global wig market and acquire related assets and brands[5] - The company plans to achieve a revenue target of RMB 2,000,000,000 in 2018, with a control on expenses not exceeding RMB 450,000,000[100] - The company aims to enhance its product technology and value by fully replacing imported raw materials for wig products[98] - The company is focusing on expanding its global marketing channels and establishing a self-operated marketing system[98] - The company plans to integrate industrialization and information technology to enhance automation and reduce production costs[98] Market Presence and Sales - The company operates in the global wig and hairpiece market, with major products including human hair wigs and synthetic hair products[31] - The company has established 8 sales subsidiaries and 3 production subsidiaries overseas, enhancing its market presence in North America, Africa, Europe, and Asia[32] - The North American market remains the largest consumer market for hair products, driven by a significant population of African descent[34] - The African market is projected to grow significantly, with increasing consumption of hair products among the local population[34] - The company has a total of 220 stores in major Chinese cities, with a focus on fashion-conscious female consumers[33] - Revenue from the African market reached CNY 883,988,851.83, with a year-on-year increase of 23.03%[46] - The European market generated revenue of CNY 142,354,358.03, reflecting a year-on-year growth of 5.57%[46] - Domestic market revenue amounted to CNY 227,277,599.35, showing a year-on-year increase of 4.84%[47] Operational Risks and Challenges - The company has identified risks related to exchange rate fluctuations, overseas operations, and policy changes that may impact future performance[8] - The company has established 11 wholly-owned subsidiaries abroad, with 8 being sales subsidiaries and 3 being production subsidiaries[38] - The company’s export tax rebate rate for wig products was reduced from 15% to 9% starting April 1, 2015, which may impact its production and operations[105] - The company faced management risks due to differences in political, economic, legal, and cultural environments in the countries where its subsidiaries operate[183] Financial Management and Control - The company received a standard unqualified audit report from Zhongxi Accounting Firm, ensuring the accuracy of its financial statements[5] - The company maintained strict budget management, resulting in stable management expenses compared to the previous year[71] - Financial expenses increased by 39.65% compared to the same period last year, primarily due to the appreciation of the RMB against the USD, resulting in increased exchange losses[72] - The company has implemented comprehensive budget management to control expenses and ensure operational goals are met[101] - The internal control audit report confirmed that the company maintained effective financial reporting internal controls in all significant aspects[159] Shareholder and Corporate Governance - The proposed cash dividend for 2017 is CNY 0.50 per 10 shares, totaling CNY 56,599,272.00, subject to shareholder approval[6] - The company’s cash dividend policy was revised in 2012 to protect the rights of minority investors and ensure compliance with regulatory requirements[109] - The company held two shareholder meetings during the year, ensuring compliance with legal requirements and allowing shareholders to exercise their voting rights fully[150] - The company has a total of 11.025 million yuan in remuneration for directors, supervisors, and senior management, which has been fully paid[143] - The company has not faced any major litigation or arbitration matters during the reporting period[120] Employee and Training Programs - The total number of employees in the parent company and major subsidiaries is 8,269, with 4,366 in the parent company and 3,903 in subsidiaries[145] - Employee training programs are structured at various levels, including company-wide, departmental, and workshop training, with a focus on enhancing professional skills and management capabilities[147] - The educational background of employees shows that there are 20 with postgraduate degrees, 636 with bachelor's degrees, 1,091 with associate degrees, and 6,522 with high school or lower education[145] Research and Development - The company applied for 24 patents during the reporting period and received 25 patent certificates[40] - Total R&D investment amounted to ¥43,631,792.65, representing 2.24% of operating revenue, with no capitalized R&D expenditures[74] Debt and Financial Ratios - The company maintained a loan repayment rate of 100% and an interest payment rate of 100%, demonstrating strong financial discipline[171] - The current ratio improved significantly to 6.11 in 2017, up 150.41% from 2.44 in 2016, primarily due to a reduction in current liabilities[171] - The interest coverage ratio increased to 4.52, a 34.52% improvement from 3.36 in the previous year, indicating stronger earnings relative to interest expenses[171] - The company's asset-liability ratio stood at 40.00%, a decrease of 11.41% from the previous year, indicating improved financial stability[171]

2017 年第三季度报告 公司代码：600439 公司简称：瑞贝卡 2.1 主要财务数据 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 4,289,326,574.30 4,263,364,498.14 0.61 归属于上市公司 股东的净资产 2,424,263,319.10 2,333,682,313.81 3.88 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减(%) 经营活动产生的 现金流量净额 174,785,729.26 322,147,848.92 -45.74 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减 （%） 营业收入 1,467,081,690.31 1,369,664,241.77 7.11 归属于上市公司 股东的净利润 157,034,267.36 118,280,724.54 32.76 归属于上市公司 股东的扣除非经 常性损益的净利 润 153,793,540.38 116,551,263.43 31.95 加权平均净资产 收益率（%） 6.57 4.96 增加 ...