证券代码：600493 证券简称：凤竹纺织 编号：2019-018 福建凤竹纺织科技股份有限公司 关于参加 2019 年福建辖区上市公司 投资者集体接待日活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 为便于广大投资者更深入全面地了解公司情况、发展战略、经营状 况、融资计划、股权激励、可持续发展等投资者所关心的问题，公司定 于 2019 年 7 月 18 日下午 14:00-17:00 参加由福建证监局协同深圳市全 景网络有限公司组织开展的 2019 年福建辖区上市公司投资者集体接待 日活动。现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平 台，采取网络远程的方式举行，投资者可以登录"全景·路演天下"网 站（http://rs.p5w.net/）或关注微信公众号：全景财经（微信号： p5w2012），参与公司本次投资者集体接待日活动，活动时间为 2019 年 7 月 18 日（星期四）14:00 至 17:00。 出席本次集体接待日的人员有：公司总经理陈锋先生、董事会秘书 陈美珍女士、财务总监吴训豪先生。 欢迎广大 ...

Financial Performance - Operating revenue for the period reached CNY 256,453,069.11, a 47.08% increase year-on-year [6] - Net profit attributable to shareholders increased by 17.15% to CNY 6,899,925.59 compared to the same period last year [6] - The net profit after deducting non-recurring gains and losses surged by 90.13% to CNY 6,000,465.31 [6] - The weighted average return on equity rose by 11.31 percentage points to 0.9549% [6] - Total operating revenue for Q1 2019 reached ¥256,453,069.11, a 47.1% increase from ¥174,364,363.55 in Q1 2018 [26] - Net profit for Q1 2019 was ¥6,899,925.59, representing a 17.1% increase compared to ¥5,889,647.22 in Q1 2018 [27] - The company reported a total profit of ¥7,539,474.41 for Q1 2019, up from ¥7,346,991.28 in Q1 2018 [26] Cash Flow - Cash flow from operating activities showed a significant improvement, with a net cash flow of CNY -152,298.32 compared to CNY -7,579,683.55 in the previous year [6] - The company reported a net cash flow from operating activities of -15.23 million RMB, a significant increase in cash outflow compared to -757.97 million RMB in the previous year [13] - Cash inflow from operating activities in Q1 2019 totaled ¥262,786,823.67, compared to ¥241,171,124.02 in Q1 2018, indicating an increase of 8.9% [30] - The total cash inflow from operating activities was ¥228,086,713.12, up 52% from ¥149,940,038.90 in the same period last year [33] - The company reported a total cash outflow of ¥148,784,598.32 from operating activities, a slight decrease from ¥154,050,853.43 in Q1 2018 [33] - The net increase in cash and cash equivalents for Q1 2019 was ¥24,316,561.06, contrasting with a decrease of ¥29,382,374.11 in Q1 2018, indicating a positive cash flow trend [34] Assets and Liabilities - Total assets increased by 1.85% to CNY 1,398,309,723.13 compared to the end of the previous year [6] - Construction in progress increased by 30.35% to CNY 88,991,500 due to investments in the new factory project [12] - Intangible assets surged by 155.53% to CNY 198,400,300 primarily due to land rights acquisition by the subsidiary [12] - Current liabilities decreased to CNY 573,044,881.38 from CNY 589,212,619.99, a reduction of about 2.0% [22] - Non-current liabilities increased to CNY 99,255,158.54 from CNY 64,530,821.44, representing a significant rise of approximately 54% [22] - Total liabilities rose to CNY 672,300,039.92, up from CNY 653,743,441.43, indicating an increase of about 2.5% [22] - Owner's equity totaled CNY 726,009,683.21, slightly up from CNY 719,109,757.62, showing a growth of approximately 1.1% [22] Expenses - Sales expenses increased by 85.03% to CNY 468,810, mainly due to salary and export insurance costs [12] - Research and development expenses for Q1 2019 were ¥3,341,926.60, slightly down from ¥3,401,107.79 in Q1 2018 [26] - The company paid ¥24,578,360.66 in employee compensation during Q1 2019, up from ¥22,012,891.86 in Q1 2018, reflecting a 12% increase in labor costs [33] Investments - Investment activities generated a cash outflow of -8,803.76 million RMB, up from -1,584.99 million RMB year-on-year, primarily due to increased investment in the new factory project [13] - The new factory project in An Dong is expected to have an annual production capacity of 100,000 tons of knitted printed fabric, 7,500 tons of knitted printed cloth, and 3,000 tons of yarn, with a total investment of approximately 850 million RMB [14] - The main structure of the new factory has been completed and is currently undergoing renovation, with production expected to commence in October 2019 [15] - The company has completed land reserve matters for the new project in Anyang, with relevant land use certificates obtained [17] Current Assets - The company’s total current assets as of March 31, 2019, amounted to 732.20 million RMB, slightly up from 729.08 million RMB at the end of 2018 [20] - Accounts receivable increased to 146.05 million RMB from 139.02 million RMB year-on-year, indicating a growth in sales [20] - Inventory decreased to 214.98 million RMB from 230.58 million RMB, reflecting improved inventory management [20] - Accounts receivable decreased to CNY 98,928,452.21 from CNY 111,461,933.21, a decline of approximately 11.2% [24] - Inventory decreased to CNY 157,844,606.74 from CNY 163,691,684.39, reflecting a decrease of about 3.6% [24] - The company reported a total current asset of CNY 650,797,254.85, up from CNY 590,889,798.38, indicating an increase of approximately 10.1% [24]

Financial Performance - The company achieved a net profit of CNY 15,118,668.72 for the year 2018, with a profit available for distribution to shareholders amounting to CNY 104,120,096.58 after accounting for previous year’s retained earnings and dividends paid [5]. - Total revenue for 2018 was CNY 1,004,814,069.36, representing a year-on-year increase of 22.36% compared to CNY 821,179,833.14 in 2017 [19]. - The net profit attributable to shareholders increased by 23.26% to CNY 30,603,297.65 in 2018 from CNY 24,827,833.04 in 2017 [19]. - Basic earnings per share for 2018 were CNY 0.1125, up 23.22% from CNY 0.0913 in 2017 [20]. - The net profit after deducting non-recurring gains and losses was CNY 26,342,953.59, reflecting a 16.49% increase from CNY 22,613,391.50 in 2017 [19]. - The company reported a net loss from the disposal of non-current assets amounting to -2,881,265.73 RMB in 2018, an improvement from -3,484,137.19 RMB in 2017 [23]. - The company achieved a consolidated revenue of RMB 1,004.81 million, representing a year-on-year increase of 22.36% due to growth in both domestic and international sales [40]. - The operating profit reached RMB 43.97 million, an increase of 26.23% compared to RMB 34.83 million in the previous year, driven by higher selling prices and improved machine efficiency [40]. - The company’s total assets rose to CNY 1,372,853,199.05, marking a 26.12% increase from CNY 1,088,494,988.95 in the previous year [19]. - The company’s retained earnings at the end of 2018 were CNY 93,240,096.58, available for future distribution [5]. Cash Flow and Investments - The net cash flow from operating activities was CNY 31,048,472.04, a decrease of 32.35% compared to CNY 45,898,672.67 in 2017 [19]. - The net cash flow from financing activities surged by 1,335.48% to ¥78.01 million, compared to ¥5.43 million in the previous year [42]. - The net cash flow from investing activities worsened by 82.27%, reaching -¥87.44 million [65]. - The company has invested approximately RMB 850 million in the relocation project of the new factory in Fujian Jinjiang Economic Development Zone, with an annual production capacity of 100,000 tons of knitted printed fabric [135]. - The company plans to invest CNY 30 million in equipment procurement and CNY 150 million in the construction of the Antong project in 2019, funded by self-owned funds and bank financing [108]. Research and Development - Research and development expenses rose significantly by 34.21% to ¥19.22 million, compared to ¥14.32 million in the previous year [42]. - The company completed 15 patent applications in 2018, including 12 invention patents and 3 utility model patents, with 3 invention patents granted [34]. - The company has committed to increasing its technological innovation and product development efforts [103]. - The company is investing 50 million RMB in R&D for new technologies aimed at improving production efficiency and reducing waste [171]. Market and Sales - The company maintains a focus on high-end product markets, with 70-80% of its products indirectly exported to regions including Hong Kong, the Middle East, Europe, and Japan [26]. - Domestic revenue increased by 21.25%, while international revenue rose by 23.80% compared to the previous year [46]. - The company plans to enhance its market share by focusing on high-quality, innovative mid-to-high-end products [105]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on sustainable textile solutions [171]. Environmental and Social Responsibility - The company has focused on sustainable development, implementing technology upgrades to reduce water and energy consumption in production processes [38]. - The company has established a robust wastewater treatment facility with a capacity of 25,000 tons per day, ensuring effective waste management [146]. - The company has invested a total of RMB 1,744,285.87 in targeted poverty alleviation efforts during 2018, with RMB 849,335.25 allocated for vocational skills training, benefiting 378 individuals [141]. - The company has committed to enhancing its social responsibility efforts and fostering a positive environment for poverty alleviation within its operations [144]. Governance and Shareholder Relations - The company has a clear governance structure with independent directors and a diverse board composition [169]. - The company maintains a good relationship with shareholders, ensuring equal rights for all shareholders, especially minority shareholders [181]. - The board of directors has established various committees, including an audit committee and a remuneration and assessment committee, to enhance governance [182]. - The company will provide various channels for communication with shareholders, especially minority shareholders, to gather their opinions on dividend proposals [116]. Future Outlook and Challenges - The company faces risks from international market uncertainties, cotton price fluctuations, RMB exchange rate volatility, and increased environmental regulatory pressures in 2019 [106]. - The company recognizes the challenges posed by international trade protectionism and aims to adapt its strategies accordingly [102]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12% [171]. - The management team emphasized the importance of sustainability in future operations, with a goal to reduce carbon emissions by 25% over the next five years [171].

Financial Performance - Net profit attributable to shareholders rose by 184.18% to CNY 47,362,971.56 for the first nine months of the year[5] - Operating revenue for the first nine months increased by 24.27% to CNY 726,660,109.49 compared to the same period last year[5] - Operating profit increased by 118.45% to CNY 60,839,239.57 compared to the same period last year, driven by increased sales revenue and rising gross margins[10] - Total profit rose by 156.02% to CNY 59,663,209.56, primarily due to the growth in operating profit[10] - Net profit for Q3 2018 was ¥22,933,512.80, compared to ¥6,804,213.19 in Q3 2017, reflecting a significant increase of 237%[28] - Year-to-date net profit for 2018 was ¥47,362,971.56, up 184% from ¥16,666,265.83 in the same period last year[28] - The company reported a total comprehensive income of ¥22,933,512.80 for Q3 2018, reflecting strong operational performance[28] - The total comprehensive income for the third quarter of 2018 was CNY 18,005,647.44, which is a significant increase from CNY 2,199,156.24 in the same period last year[30] Cash Flow - Net cash flow from operating activities surged by 476.66% to CNY 35,316,855.40 year-to-date[5] - Cash flow from operating activities surged by 476.66% to CNY 35,316,855.40, attributed to increased cash receipts from operations and export tax refunds[10] - The net cash flow from operating activities for the first nine months of 2018 was CNY 35,316,855.40, compared to CNY 6,124,330.85 in the same period last year, reflecting an increase of approximately 476%[32] - The company reported a net cash increase of CNY 34,420,606.08 for the first nine months of 2018, compared to a decrease of CNY 8,786,060.43 in the same period last year[32] Assets and Liabilities - Total assets increased by 22.66% to CNY 1,335,095,068.23 compared to the end of the previous year[5] - Current assets increased to ¥718,754,630.93 from ¥497,191,649.68, representing a growth of approximately 44.5%[18] - Total liabilities rose to ¥599,225,636.70 from ¥391,828,528.98, indicating an increase of approximately 52.9%[20] - Short-term borrowings rose by 33.48% to CNY 153,500,000.00, reflecting an increase in working capital loans[10] - The company’s long-term payables increased by 31.11% to CNY 43,270,093.64, indicating a rise in financing lease obligations[10] Shareholder Information - The number of shareholders reached 21,895 by the end of the reporting period[7] - The total equity attributable to shareholders increased to ¥735,869,431.53 from ¥696,666,459.97, an increase of about 5.6%[20] Investments and Projects - The company plans to relocate its factory to a new site in Fujian Jinjiang Economic Development Zone, with a total production capacity of 100,000 tons of knitted printing fabric and an investment of approximately CNY 650 million[11] - The company is collaborating with CITIC Environment to establish a joint venture for the investment and construction of a dyeing and finishing demonstration park in Anyang, Henan[13] Other Financial Metrics - The weighted average return on equity increased by 4.1834 percentage points to 6.5999%[5] - The income tax expense increased by 85.30% to CNY 12,300,238.00, reflecting the rise in total profit[10] - Other payables rose by 87.73% to CNY 30,087,848.36, mainly due to an increase in performance guarantees received[10] - Research and development expenses for Q3 2018 totaled ¥4,345,041.67, an increase from ¥3,473,468.43 in Q3 2017[27]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 436,587,883.77, representing a 22.59% increase compared to CNY 356,143,960.40 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2018 was CNY 24,429,458.76, a significant increase of 147.71% from CNY 9,862,052.64 in the previous year[17]. - The basic earnings per share for the first half of 2018 was CNY 0.0898, an increase of 147.38% compared to CNY 0.0363 in the same period last year[18]. - The company achieved a revenue of CNY 436.59 million in the first half of 2018, representing a year-on-year increase of 22.59% due to increased production and export sales[36]. - The net profit for the same period was CNY 24.43 million, showing a significant year-on-year growth of 147.71% attributed to increased operating profit[36]. - The company reported a total operating cost of CNY 410,257,803.91, which is an increase from CNY 343,030,630.88 in the same period last year[107]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at CNY -20,170,484.24, a decline of 466.61% compared to CNY 5,501,940.16 in the same period last year[17]. - Cash flow from investing activities resulted in a net outflow of CNY -28,419,603.10, worsening from CNY -15,733,921.56 in the previous year[112]. - Cash flow from financing activities generated a net inflow of CNY 20,052,729.35, compared to a net outflow of CNY -22,498,444.45 in the same period last year[113]. - The company's cash and cash equivalents decreased to CNY 119,747,845.54 from CNY 144,247,771.05[101]. - The total current assets as of June 30, 2018, amounted to CNY 580,344,281.01, an increase from CNY 497,191,649.68 at the beginning of the period[101]. - The total liabilities increased to CNY 455,874,626.58 from CNY 391,828,528.98, which is an increase of approximately 16.35%[102]. Assets and Investments - The total assets at the end of the reporting period were CNY 1,168,810,545.31, up 7.38% from CNY 1,088,494,988.95 at the end of the previous year[17]. - The company has seen a 112% increase in construction in progress due to investments in Andong and equipment upgrades[28]. - The company invested RMB 8 million in Ningbo Xingfu Pioneer Investment Partnership, increasing its total investment to RMB 19.76 million, maintaining a 4% stake[51]. - The new factory project in Fujian Jinjiang Economic Development Zone has a total production capacity of 100,000 tons of knitted printing fabric, 7,500 tons of knitted printed fabric, and 3,000 tons of yarn, with a total investment of approximately RMB 650 million[53]. Market and Industry Position - The company operates primarily in the textile industry, focusing on the production and processing of knitted and woven fabrics, with 70-80% of products indirectly exported to markets including Hong Kong, the Middle East, Europe, and Japan[21]. - The company is positioned in the mid-to-high-end product market, primarily serving customers in Fujian Province and expanding nationwide[21]. - The textile industry is undergoing a transformation, facing global competition, technological substitution, and stricter environmental regulations, prompting the company to enhance its production management and reduce costs to maintain competitiveness[25]. - The company is actively expanding its market presence by enhancing brand recognition and increasing the proportion of high-value-added products[35]. Research and Development - R&D expenditure increased by 33.75% to CNY 8.01 million, focusing on new processes and products such as high-proportion milk fiber knitted fabrics and functional school uniform fabrics[41]. - The company has filed for 6 patents in 2018, including 3 invention patents and 3 utility model patents, with 3 invention patents and 7 utility model patents granted[32]. - The company has strengthened its self-owned brand operations and improved its overall risk resistance by introducing advanced technologies and equipment, enhancing product quality, and increasing the proportion of high-end, functional, and environmentally friendly fabrics[23]. Environmental and Social Responsibility - The company adheres to national environmental policies, implementing pollution control and energy-saving technologies to meet or exceed environmental standards[25]. - The average COD discharge concentration for the first half of 2018 was 32.88 mg/L, significantly below the standard limit of 200 mg/L[83]. - The company has invested a total of 501.27 million RMB in environmental projects, with additional expenditures of 54.06 million RMB reported[85]. - The company has actively participated in social responsibility initiatives, contributing to various charitable causes totaling RMB 159,300 during the reporting period[78]. Shareholder and Dividend Policies - The company did not propose any profit distribution or capital reserve increase for the first half of 2018, with no dividends or stock bonuses planned[63]. - The company committed to prioritizing cash dividends in profit distribution, aiming for at least 10% of the distributable profit to be allocated as dividends in profitable years[64]. - The company plans to distribute cash dividends of no less than 40% of the current profit distribution in each of the next three years[65]. Corporate Governance and Compliance - The company has no major litigation or arbitration matters during the reporting period[68]. - The company maintains a good integrity status with no significant debts or unfulfilled commitments[68]. - The company follows the Chinese Accounting Standards for the preparation of its financial statements[129]. Future Outlook and Strategic Plans - The company plans to invest in a modern dyeing factory in Andong, focusing on smart and green technologies to set a benchmark in the dyeing industry[26]. - The company is exploring new business areas while ensuring that it retains priority rights in any new ventures[64]. - The company plans to strengthen its employee team to optimize labor costs and improve overall operational efficiency[58].

Financial Performance - Net profit attributable to shareholders increased by 45.53% to CNY 5,889,647.22 year-on-year[6]. - Operating revenue rose by 7.65% to CNY 174,364,363.55 compared to the same period last year[6]. - Basic earnings per share rose by 45.64% to CNY 0.0217[6]. - Operating profit for Q1 2018 reached CNY 7,108,194.59, compared to CNY 5,455,768.22 in Q1 2017, representing a growth of 30.2%[28]. - The net profit for Q1 2018 was CNY 5,889,647.22, up 45.5% from CNY 4,046,971.43 in Q1 2017[29]. - The total comprehensive income attributable to the parent company for Q1 2018 was CNY 5,889,647.22, an increase of 45.5% from CNY 4,046,971.43 in the previous year[29]. Cash Flow - Cash flow from operating activities showed a significant improvement, with a net cash outflow of CNY -7,579,683.55 compared to CNY -18,730,874.46 in the previous year[6]. - The company reported cash inflows from operating activities totaling CNY 241,171,124.02, compared to CNY 191,923,790.30 in Q1 2017, marking a 25.6% increase[33]. - The cash outflow from operating activities was CNY 248,750,807.57, up from CNY 210,654,664.76 in the previous year[33]. - The net cash flow from operating activities was -4,110,814.53 CNY, a decrease from -24,869,397.11 CNY in the previous period[36]. - The total cash and cash equivalents at the end of the period were 56,406,189.29 CNY, down from 85,788,563.40 CNY at the beginning of the period[36]. Assets and Liabilities - Total assets decreased by 1.62% to CNY 1,070,873,296.40 compared to the end of the previous year[6]. - The total amount of entrusted financial products was 45,500,000 RMB, with actual returns of 96,103.42 RMB during the reporting period[19]. - Total liabilities decreased to CNY 336,169,692.58 from CNY 315,337,289.69, indicating a reduction in financial obligations[26]. - The company's cash and cash equivalents decreased to 98,573,186.06 RMB from 144,247,771.05 RMB at the beginning of the year[22]. - The inventory balance as of March 31, 2018, was 186,885,619.36 RMB, down from 204,855,121.88 RMB at the beginning of the year[23]. Investments and Projects - The new factory project in An Dong is expected to have a total production capacity of 100,000 tons of knitted dyed fabric, 7,500 tons of knitted printed fabric, and 3,000 tons of yarn, with a total investment of approximately 650 million RMB[15]. - The company has completed the land reserve work for the new factory project in An Dong, covering 165.33 acres, with all preparatory work completed as of January 2, 2018[15]. - The company plans to establish a joint venture with CITIC Environment to invest in the dyeing demonstration park in Anyang, adapting to new environmental regulations[17]. Shareholder Information - The number of shareholders reached 24,155, with the top ten shareholders holding significant stakes[10]. Financial Expenses - Financial expenses surged by 279.79% to CNY 4,028,956.77 due to increased loan interest and foreign exchange losses[12].

Financial Performance - The company achieved a net profit of CNY 6,309,418.25 for the year 2017, with a profit available for distribution to shareholders amounting to CNY 98,673,294.73 after accounting for previous undistributed profits and cash dividends paid [5]. - Total revenue for 2017 was CNY 821,179,833.14, representing a year-on-year increase of 7.75% compared to CNY 762,144,650.50 in 2016 [20]. - The net profit attributable to shareholders decreased by 56% to CNY 24,827,833.04 in 2017 from CNY 56,420,911.94 in 2016 [20]. - The basic earnings per share for 2017 was CNY 0.0913, down 55.98% from CNY 0.2074 in 2016 [21]. - The company's total assets increased by 7.53% to CNY 1,088,494,988.95 at the end of 2017, compared to CNY 1,012,306,091.93 at the end of 2016 [20]. - The weighted average return on equity decreased to 3.5869% in 2017, down 4.8983 percentage points from 8.4852% in 2016 [21]. - The net cash flow from operating activities fell by 62.65% to CNY 45,898,672.67 in 2017 from CNY 122,878,852.76 in 2016 [20]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, which was CNY 22,613,391.50 in 2017, down 61.13% from CNY 58,179,893.53 in 2016 [20]. - The company's net assets attributable to shareholders increased slightly by 0.84% to CNY 696,666,459.97 at the end of 2017 from CNY 690,878,626.93 at the end of 2016 [20]. Revenue and Cost Analysis - The company achieved a consolidated revenue of RMB 821.18 million, an increase of 7.75% year-on-year, primarily due to growth in export sales [41]. - Operating costs increased by 10.73% to RMB 696.13 million from RMB 628.70 million year-on-year [43]. - The textile segment's revenue increased by 8.21%, primarily due to growth in export sales, while the gross margin decreased by 2.38 percentage points [46]. - The revenue from weaving products grew by 9.41%, driven by increased export volumes, although the gross margin decreased by 6.18 percentage points [46]. - Direct material costs accounted for 70.96% of total costs, increasing from 70.06% in the previous year, reflecting rising input costs [51]. Investment and R&D - The company completed 19 patent applications in 2017, including 12 invention patents and 7 utility model patents, with 3 invention patents granted [36]. - The company developed several new products, including "Coffee Charcoal Small Jacquard" which won the "2017 Excellent Dyeing and Finishing Fabric Award" and "Pixel World" which received an award at the "2017 Second Eco-Friendly Fabric Competition" [35]. - Research and development expenses rose by 65.03% to RMB 14.32 million, compared to RMB 8.68 million in the previous year [43]. - The company has focused on three key R&D projects aimed at developing eco-friendly and efficient dyeing technologies [59]. Dividend Policy and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.3 per 10 shares, totaling CNY 8,160,000, subject to shareholder approval [5]. - In 2017, the company distributed a cash dividend of 0.3 yuan per 10 shares, totaling 8,160,000 yuan, with a net profit distribution rate of 32.87% [102]. - The company has not adjusted its cash dividend policy during the reporting period, maintaining consistency in shareholder returns [101]. - The company plans to distribute cash dividends, ensuring that the proportion of cash dividends in profit distribution will not be less than 40% over the next three years [104]. Operational Efficiency and Market Strategy - The company maintains a stable operational model with a focus on mid-to-high-end textile products, primarily serving the domestic market while also exporting 70-80% of its products indirectly [28]. - The company aims to enhance its brand business and improve its overall risk resistance by adopting advanced technologies and strengthening relationships with suppliers and customers [30]. - The company plans to enhance brand building and marketing management to strengthen its market position [79]. - The company aims to increase new product development focusing on functional, multi-purpose, and high-quality fabrics [79]. Environmental and Social Responsibility - The company has maintained a stable operation with no environmental pollution incidents in the past three years, receiving multiple awards for its environmental protection efforts [131]. - The average COD discharge concentration in 2017 was 29.34 mg/L, significantly below the standard limit of 80 mg/L, indicating effective pollution control measures [133]. - The company invested a total of RMB 1,229,697.70 in poverty alleviation efforts in 2017, with RMB 865,548.10 allocated for vocational skills training, benefiting 415 individuals [125]. - The company plans to continue its poverty alleviation initiatives in 2018, focusing on vocational training and support for disabled individuals [129]. Corporate Governance and Management - The company has established a compensation and assessment committee to evaluate the remuneration of directors and senior management based on performance metrics and financial indicators [152]. - The board of directors has set up various committees, including an audit committee and a remuneration and assessment committee, to enhance governance and oversight [160]. - The company has complied with relevant laws and regulations to ensure proper governance and protect the interests of shareholders [158]. - The management's commitment to innovation and market expansion is evident from their diverse backgrounds and roles in the industry [148].

Financial Performance - Operating revenue for the first nine months rose by 11.47% to CNY 584,731,032.14 year-on-year[4] - Net profit attributable to shareholders increased by 15.99% to CNY 16,666,265.83 compared to the same period last year[4] - Operating profit increased by 39.9% to RMB 24,237,904.13 compared to RMB 17,319,109.96 in the same period last year, driven by increased sales revenue[14] - Basic earnings per share improved by 16.10% to CNY 0.0613[4] - Non-operating income increased by 51.2% to RMB 3,827,303.85, mainly from government subsidies and fixed asset disposals[14] - The company reported a total profit of ¥9,460,968.81 for Q3 2017, down from ¥12,484,684.11 in Q3 2016[31] - Net profit for Q3 2017 was ¥6,804,213.19, a decrease of 26.9% from ¥9,302,490.67 in Q3 2016[31] - Earnings per share for Q3 2017 was ¥0.0250, down from ¥0.0342 in Q3 2016[31] Cash Flow - Net cash flow from operating activities decreased significantly by 93.11% to CNY 6,124,330.85[4] - Cash flow from operating activities decreased by 93.1% to RMB 6,124,330.85, primarily due to increased payments for raw material purchases[14] - The cash inflow from operating activities for the first nine months of 2017 was CNY 625,319,418.37, an increase of 12.06% compared to CNY 557,809,800.82 in the same period last year[34] - The net cash flow from operating activities was CNY 6,124,330.85, a significant decrease of 93.09% from CNY 88,939,976.49 in the previous year[34] - The net cash flow from financing activities was CNY 35,223,343.76, a recovery from -CNY 80,060,423.15 in the same period last year[35] - The ending cash and cash equivalents balance was CNY 103,165,391.54, compared to CNY 72,331,825.14 at the end of the same period last year, reflecting a growth of 42.6%[35] Assets and Liabilities - Total assets increased by 3.60% to CNY 1,048,716,996.99 compared to the end of the previous year[4] - Current assets totaled CNY 502,379,999.66, up from CNY 472,344,458.12, indicating an increase of about 6.9%[21] - Total liabilities reached CNY 360,212,104.23, compared to CNY 321,427,465.00 at the start of the year, reflecting an increase of approximately 12%[23] - The company's short-term borrowings increased to CNY 125,000,000.00 from CNY 96,000,000.00, which is an increase of about 30.2%[22] - Total assets as of the end of Q3 2017 amounted to ¥956,052,294.29, compared to ¥900,758,203.62 at the end of Q3 2016[31] - Total liabilities increased to ¥307,726,959.44 in Q3 2017, up from ¥240,299,354.85 in Q3 2016[31] Investments and Expenses - The company invested approximately RMB 153.68 million in the An'yang production base project, with a total planned investment of RMB 420 million[11] - The company reported a significant increase in prepaid expenses, which rose to CNY 79,255,807.06 from CNY 35,992,429.79, reflecting an increase of approximately 120%[21] - Financial expenses rose by 41.3% to RMB 6,501,979.97 due to increased interest expenses from bank loans[14] - The company reported a significant increase in non-operating expenses by 532.5% to RMB 4,760,833.04, mainly due to losses from the disposal of outdated equipment[14] - The company's income tax expense increased by 40.4% to RMB 6,638,109.11, reflecting higher total profit[14] Shareholder Information - The total number of shareholders reached 24,461 by the end of the reporting period[7] - The total equity attributable to shareholders decreased to CNY 688,504,892.76 from CNY 690,878,626.93, a decline of approximately 0.3%[23]

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 356,143,960.40, representing a 10.36% increase compared to CNY 322,711,190.01 in the same period last year[15]. - The net profit attributable to shareholders for the first half of 2017 was CNY 9,862,052.64, a significant increase of 94.67% from CNY 5,065,946.49 in the previous year[15]. - The net profit after deducting non-recurring gains and losses was CNY 9,314,495.18, which is a 132.13% increase compared to CNY 4,012,693.79 in the same period last year[15]. - Basic earnings per share for the first half of 2017 were CNY 0.0363, up 95.16% from CNY 0.0186 in the same period last year[16]. - The gross profit margin improved, contributing to a net profit of CNY 9.86 million, which is a 94.7% increase compared to the previous year[32]. - Operating profit for the first half of 2017 was CNY 13,113,329.52, up 151.67% from CNY 5,208,348.10 in the previous year[89]. - The company recorded a total profit of CNY 13,843,406.13, which is a 109.88% increase from CNY 6,612,685.04 in the same period last year[90]. Cash Flow and Assets - The company's cash flow from operating activities showed a decline, with a net cash flow of CNY 5,501,940.16, down 93.25% from CNY 81,554,879.91 in the previous year[15]. - The total assets at the end of the reporting period were CNY 951,145,182.58, a decrease of 6.04% from CNY 1,012,306,091.93 at the end of the previous year[15]. - The net assets attributable to shareholders decreased by 1.33% to CNY 681,700,679.57 from CNY 690,878,626.93 at the end of the previous year[15]. - The company's total assets decreased by 6.04% to CNY 951.15 million, while net assets decreased by 1.33% to CNY 681.70 million, primarily due to dividend distributions[33]. - Cash and cash equivalents decreased from CNY 166,008,030.63 to CNY 105,693,899.34, a decline of about 36.2%[81]. - The total accounts receivable at the end of the period was CNY 75,216,493.51, with a bad debt provision of CNY 9,438,642.55, indicating a provision ratio of approximately 12.55%[189]. Industry and Market Conditions - The company operates primarily in the textile industry, focusing on the production and processing of knitted and woven fabrics, with 70-80% of products indirectly exported to markets including Hong Kong, the Middle East, Europe, and Japan[20]. - The textile industry is facing challenges such as intense competition and a declining market share in major markets like the US, Japan, and Europe[25]. - The company anticipates continued challenges in the second half of 2017, including the widening domestic and international cotton price gap and rising raw material costs[51]. Research and Development - Research and development expenses rose significantly by 132.63% to CNY 5.99 million, reflecting the company's commitment to enhancing innovation and product value[36]. - In 2017, the company applied for 3 invention patents and 7 utility model patents, with 1 invention patent granted[29]. - The company has developed an eco-friendly low-alkali pretreatment process, improving product quality while reducing production costs[27]. Corporate Governance and Shareholder Relations - The company has committed to prioritizing cash dividends in profit distribution, with a focus on ensuring sufficient cash dividends before considering stock dividends[56]. - The company has established a commitment to not engage in competitive activities that threaten its core business during the control period of its major shareholders[56]. - The total number of ordinary shareholders reached 26,770 by the end of the reporting period[75]. - The top shareholder, Chen Chengqing, holds 29,147,520 shares, representing 10.72% of the total shares[76]. Environmental and Social Responsibility - The company has established an environmental protection team and has not experienced any environmental pollution incidents in the past three years, receiving multiple honors for its environmental efforts[66]. - The company has implemented a wastewater treatment facility with a capacity of 25,000 tons per day, achieving COD and NH3-N discharge concentrations of 29.35 mg/L and 1.66 mg/L, respectively, both of which are better than the required standards[67]. Financial Management and Investments - The company provided collateral for a loan of RMB 60,890,000, with an actual loan amount of RMB 30,000,000 as of the end of the period[43]. - The company invested approximately RMB 4.2 billion in the construction of a new production base in Anyang, Henan Province[49]. - The company has a total of RMB 125 million in entrusted financial management products, with a total return of RMB 125,269,268.76, yielding a profit of RMB 269,268.76[74]. Accounting Policies and Financial Reporting - The financial statements are prepared in accordance with the Chinese Accounting Standards, ensuring a true and complete reflection of the company's financial status[114]. - The company’s accounting policies are aligned with the relevant regulations, ensuring compliance and accuracy in financial reporting[113]. - The company recognizes revenue from sales of goods based on the contract or agreement price, net of sales discounts and returns[171].

Financial Performance - Total revenue for the first quarter reached CNY 161,977,788.19, an increase of 21.06% compared to CNY 133,803,969.93 in the same period last year[7] - Net profit attributable to shareholders was CNY 4,046,971.43, reflecting a growth of 40.94% from CNY 2,871,452.40 year-on-year[7] - Operating profit for the quarter was CNY 3,308,547.26, up 62.27% from CNY 2,038,888.95 year-on-year, driven by increased sales revenue[12] - Basic earnings per share increased by 40.57% to CNY 0.0149 from CNY 0.0106 in the same period last year[7] - Total operating revenue for Q1 2017 was CNY 161,977,788.19, an increase of 21.0% compared to CNY 133,803,969.93 in the same period last year[28] - Net profit for Q1 2017 reached CNY 4,046,971.43, representing a 41.0% increase from CNY 2,871,452.40 in Q1 2016[28] - Basic and diluted earnings per share for Q1 2017 were both CNY 0.0149, compared to CNY 0.0106 in the previous year, marking a 40.6% increase[29] Cash Flow - The net cash flow from operating activities was negative CNY 18,730,874.46, a decline of 144.10% compared to CNY 42,471,728.58 in the previous year[7] - The net cash flow from investment activities was -9,763,948.38 RMB, representing a decrease of 166.03% from 14,787,350.00 RMB in the previous year[14] - The net cash flow from financing activities was -11,132,450.00 RMB, a decrease of 57.52% compared to -26,208,367.35 RMB in the previous period[14] - The cash flow from operating activities shows a net outflow of ¥18,730,874.46, compared to a net inflow of ¥42,471,728.58 in the previous period[32] - The total cash outflow from operating activities is ¥210,654,664.76, which is an increase of 36.1% from ¥154,830,402.79 in the previous period[32] Assets and Liabilities - The total assets at the end of the reporting period were CNY 955,547,858.02, a decrease of 5.61% from CNY 1,012,306,091.93 at the end of the previous year[7] - As of March 31, 2017, total assets amounted to CNY 955,547,858.02, a decrease from CNY 1,012,306,091.93 at the beginning of the year[21] - Total liabilities decreased to CNY 207,596,119.34 from CNY 240,299,354.85, a reduction of 13.6%[27] - Total equity increased to CNY 663,495,553.45 from CNY 660,458,848.77, reflecting a slight growth of 0.5%[27] - Cash and cash equivalents decreased from CNY 166,008,030.63 at the beginning of the year to CNY 119,024,111.19[21] - Cash and cash equivalents decreased to CNY 83,446,946.29 from CNY 130,873,569.63, a decline of 36.2%[26] Investments and Projects - The company plans to invest approximately 420 million RMB in the new production base project in Anyang, Henan Province, with a registered capital of 120 million RMB for its wholly-owned subsidiary[15] - As of March 31, 2017, the actual investment in the Anyang project was 153.67 million RMB, including land-related costs of 146.85 million RMB and fixed asset purchases of 0.33 million RMB[15] - The company has participated in bidding for development reserve land in the Fujian Jinjiang Economic Development Zone, with a budget of up to 60 million RMB for the acquisition[16] - The company successfully acquired two industrial land parcels in Jinjiang, with total transaction prices of 33.51 million RMB and 18.29 million RMB, respectively[17] - The company is awaiting environmental assessment approvals for the acquired land parcels before proceeding with land certificate applications[17] - The company is undergoing significant capital expenditures due to the relocation of its main plant and the construction of a subsidiary project in Anyang, Henan[1] - The company aims to enhance its competitiveness and ensure long-term stable development through these investments[1] Dividend Policy - The company emphasizes a commitment to cash dividends, prioritizing cash distribution while ensuring sufficient cash for operations[18] - The company plans to distribute at least 30% of the average annual distributable profit over the next three years as cash dividends[18] - In profit distribution, if the company is in a mature development stage without significant capital expenditure, cash dividends should constitute at least 80% of the profit distribution[18] - If there are significant capital expenditures, the minimum cash dividend proportion should be 40%[18] - The company has a long-term commitment to not engage in competitive activities that threaten its main business[18] - The company will consider industry characteristics and operational factors when proposing differentiated dividend policies[18] - The company has a commitment to not transfer shares during the specified restriction period after listing[18] - The company aims to ensure that the profit distribution aligns with its financial health and operational needs[18] - The company has established a policy to prioritize cash dividends in profit distribution decisions[18] - The company plans to maintain a cash dividend ratio of no less than 40% of the current profit distribution over the next three years[1] - The board will propose reasonable dividend suggestions based on profitability, funding needs, and shareholder return planning after each fiscal year[1] - The company will actively communicate with shareholders, especially minority shareholders, to gather their opinions and concerns regarding dividend proposals[1] Other Financial Metrics - The company reported a significant increase in asset impairment losses, which rose to CNY 3,573,946.60, a 3,923.29% increase from CNY 88,831.37 in the previous year[12] - Total operating costs for Q1 2017 were CNY 158,669,240.93, up from CNY 131,765,080.98, reflecting a growth of 20.4% year-over-year[28] - Accounts receivable increased from CNY 63,245,525.83 to CNY 79,130,313.09, indicating a rise of approximately 25%[21] - Inventory decreased from CNY 161,655,657.32 to CNY 153,511,833.48, reflecting a decline of about 5%[22] - Short-term borrowings decreased from CNY 96,000,000.00 to CNY 85,000,000.00, a reduction of approximately 11%[22] - The company reported a significant increase in prepayments, which rose to CNY 4,177,284.26 from CNY 1,888,874.56, a growth of 121.0%[26] - The company's operating revenue for the current period is ¥119,719,263.96, an increase of 16.2% compared to ¥103,096,463.96 in the previous period[30] - The net profit for the current period is ¥3,036,704.68, representing a significant increase of 159.5% from ¥1,167,727.66 in the previous period[30] - The basic and diluted earnings per share are both ¥0.0112, up from ¥0.0043 in the previous period, indicating a growth of 160.5%[30] - The operating profit for the current period is ¥3,636,817.82, up from ¥1,386,700.97 in the previous period, marking a growth of 162.5%[30] - The sales revenue from goods and services received cash of ¥178,635,277.48, an increase of 10.5% compared to ¥161,547,047.93 in the previous period[32] - The company reported a total profit of ¥4,048,939.58 for the current period, which is an increase of 178.5% from ¥1,453,584.38 in the previous period[30]