Financial Performance - The total operating revenue for Q1 2023 was RMB 426,461,316.20, an increase of 7.2% compared to RMB 397,583,519.23 in Q1 2022[14] - The net profit attributable to shareholders of the parent company was RMB 72,843,698.02, down 8.6% from RMB 79,559,422.63 in the same period last year[14] - The diluted earnings per share decreased to RMB 0.08, a decline of 11.11% compared to the previous year[4] - The total comprehensive income for the period was ¥77,141,170.26, compared to ¥81,336,863.90 in the previous year[32] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥71,185,952.86, down by 9.73% year-on-year[18] - The net profit for Q1 2023 was ¥3,074,877.28, a decrease of 73.8% from ¥11,730,533.19 in Q1 2022[55] Assets and Liabilities - The total assets at the end of the reporting period were RMB 3,212,036,720.98, reflecting a 2.73% increase from RMB 3,126,526,740.15 at the end of the previous year[4] - The total liabilities and shareholders' equity amounted to RMB 3,212,036,720.98, showing a growth from RMB 3,126,526,740.15 year-over-year[14] - The total assets amounted to ¥2,266,560,791.18, showing a slight increase from ¥2,258,330,368.04 in the previous period[52] - The total liabilities and shareholders' equity totaled ¥2,266,560,791.18, consistent with the total assets[53] - The company's total liabilities were CNY 972,427,954.69, up from CNY 962,375,463.38 at the end of the previous year[46] Cash Flow - Cash flow from operating activities netted RMB 34,298,269.60, an increase from RMB 17,547,675.86 in Q1 2022[15] - The net cash flow from operating activities was CNY 6,561,278.86, down 86.7% from CNY 49,196,448.78 in the same period last year[40] - The company's cash inflow from investment activities was CNY 1,677,859.79, a significant improvement from a net outflow of CNY 31,764,711.78 in Q1 2022[40] - The company reported a net cash outflow from financing activities of CNY 21,689,699.23 in Q1 2023, compared to a net outflow of CNY 2,944,232.83 in the same period last year[50] Shareholder Information - The total number of common shareholders at the end of the reporting period was 51,455[23] - The company’s major shareholder increased their stake by acquiring an additional 2,961,111 shares, bringing their total ownership to 32.89%[9] - The controlling shareholder plans to increase its stake in the company by investing between ¥50 million and ¥100 million within six months starting from March 23, 2023[26] Research and Development - Research and development expenses for the quarter were RMB 46,357,872.19, up from RMB 44,433,644.87 in the same period last year[14] - Research and development expenses for Q1 2023 were ¥15,995,592.77, down 19.9% from ¥19,989,954.48 in Q1 2022[55] Inventory and Equity - The company's inventory as of March 31, 2023, was CNY 106,054,550.00, down from CNY 115,724,346.01 a year earlier, indicating a decrease of 8.5%[50] - The total equity attributable to shareholders increased to CNY 2,110,967,908.70 from CNY 2,037,847,891.42 at the end of 2022, representing a growth of 3.6%[46] - The total equity increased to ¥1,816,788,110.69 from ¥1,813,436,914.15, reflecting a growth in capital reserves[53] Other Financial Metrics - The weighted average return on equity was 3.51%, a decrease of 0.45 percentage points compared to the previous year[4] - The cash and cash equivalents at the end of Q1 2023 were CNY 930,199,076.59, compared to CNY 725,466,993.66 at the end of Q1 2022, reflecting an increase of 28.2%[50] - The company's short-term borrowings decreased to CNY 96,539,066.77 from CNY 111,319,797.90 at the end of 2022, reflecting a reduction of 13.3%[46] - The company terminated its major asset restructuring plan due to significant changes in the macroeconomic environment, which posed uncertainties for the transaction[28]

Corporate Governance and Independence - The company reported a complete separation from its controlling shareholder, Beijing Yiqing Holdings, in terms of assets, personnel, finance, and operations, ensuring independent management and governance[9]. - The company maintains independent financial management systems, with no interference from controlling shareholders or related parties, ensuring clear ownership of assets[9]. - The company has established a complete business system with independent production, supply, and sales capabilities, avoiding any competition with its controlling shareholder[9]. - The board of directors and management team are elected and appointed according to regulations, ensuring a robust governance structure[9]. - The company has a comprehensive labor, personnel, and compensation management system, reinforcing its operational independence[9]. - The company has a clear and independent financial accounting system, with no shared bank accounts with controlling shareholders[9]. - The company has a complete set of governance institutions, including a shareholders' meeting, board of directors, and supervisory board, ensuring effective oversight[9]. - The company has no reported issues regarding the authenticity and completeness of its annual report, as all board members can guarantee its accuracy[11]. Financial Performance and Planning - The company has outlined its financial budget for 2022, indicating a proactive approach to financial planning and resource allocation[13]. - The financial data indicates a total of 281,568,100 shares issued, with a total equity incentive repurchase and cancellation of 436,000 shares[27]. - The company’s total remuneration for directors, supervisors, and senior management was 14.85599 million yuan (pre-tax) for the reporting period[49]. - The company reported a total export of sewing machinery products amounting to $3.428 billion in 2022, representing a year-on-year growth of 8.98%[63]. - The company’s revenue from network security devices increased significantly due to the acquisition of Beijing Xinghan, while sales of sewing control systems decreased by approximately 17% year-on-year[89]. - Revenue from the sewing and knitting equipment control systems was approximately CNY 1.36 billion, a decrease of 6.94% year-over-year, while the gross margin increased by 0.95 percentage points to 41.00%[117]. - The net cash flow from operating activities decreased by 14.33% to CNY 218.23 million compared to the previous year[126]. - The investment cash flow was negative at CNY -55.23 million, primarily due to the acquisition payment[126]. Research and Development - The company has implemented a fully digital automatic tension control system to improve operational efficiency[18]. - The financial report highlights a significant investment in R&D to maintain control over core technologies from hardware to software[18]. - The company’s R&D team consists of 440 personnel, accounting for 34.32% of the total workforce, with a focus on enhancing product development capabilities[96]. - Research and development expenses totaled ¥163,818,553.36, accounting for 10.25% of total revenue[149]. - The company has a strong R&D team with over ten years of experience in hardware design for x86 and ARM platforms[110]. - The company is focusing on technological innovation, increasing investment in machine vision, artificial intelligence, and industrial internet technologies to enhance product functionality[78]. Market Expansion and Strategic Acquisitions - The company aims to expand its market presence through new product development and technological advancements[18]. - The company acquired a controlling stake in Xinghan Internet, entering the new market of network security hardware and cloud-edge terminal[35]. - The company is actively pursuing market expansion and new strategies to enhance its competitive position in the industry[37]. - The company is actively pursuing international market expansion and strategic acquisitions to enhance its global presence[165]. - The company acquired the cybersecurity business of Xinghan Network and established a wholly-owned subsidiary for financing leasing, which supports business scale expansion[173]. Technological Innovation - The company possesses fully independent intellectual property rights and is a global leader in the technology of automatic thread-changing robots[18]. - The integration of an industrial internet system aims to optimize production factors and restructure business models for economic transformation[18]. - The company is focusing on high-end technology development, including modular design and independent drive technology, to achieve breakthroughs in mid-to-high-end sewing technology[184]. - The company aims to leverage advanced technologies such as AI, IoT, and big data to enhance its service-oriented manufacturing capabilities[185]. Industry Challenges and Trends - In 2022, the sewing machinery industry saw a revenue decline of 10.82% and a profit drop of 22.20%, with an operating income profit margin of 5.65%, below the national industrial average of 6.09%[40]. - The total production of industrial sewing machines in the industry was approximately 6.3 million units in 2022, a year-on-year decline of about 37%[62]. - The company is facing challenges from rising costs and industry constraints, which may impact the growth of small and medium-sized enterprises[183]. - The cybersecurity market remains fragmented with a low concentration of competition, influenced by the high degree of product segmentation and decentralized bidding practices among core clients[190]. Corporate Social Responsibility - The company has maintained a commitment to social responsibility, integrating it into its business operations and actively engaging in community support activities[55]. - The company actively invested in the construction of photovoltaic power stations, contributing to clean energy initiatives and demonstrating corporate responsibility[60].

Financial Performance - The company's operating revenue for Q3 2022 was ¥391,389,886.77, representing a year-on-year increase of 7.78%[6] - The net profit attributable to shareholders for Q3 2022 was ¥109,737,010.80, an increase of 12.53% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥89,337,941.17, showing a decrease of 3.90% year-on-year[6] - Total revenue for the first three quarters of 2022 was CNY 1,137,511,599.47, a decrease of 4.5% compared to CNY 1,191,626,743.48 in the same period of 2021[34] - Net profit for the third quarter of 2022 was CNY 341,797,157.65, an increase of 13.1% from CNY 302,325,269.32 in the third quarter of 2021[36] - The net profit for the third quarter of 2022 was CNY 108,000,052.15, which is a substantial increase from CNY 36,441,183.14 in the previous year, marking a growth of approximately 196%[45] - The company reported a total comprehensive income of ¥108,000,052.15 for the third quarter of 2022, compared to ¥36,441,183.14 in the same quarter of 2021, indicating a growth of about 196%[46] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,075,573,314.83, reflecting a 32.10% increase from the end of the previous year[9] - The company's total assets increased to CNY 3,075,573,314.83, up from CNY 2,328,155,577.92 year-over-year[34] - The total liabilities increased to CNY 1,028,495,514.49, compared to CNY 308,783,220.16 in the previous year[34] - The total liabilities of the company were CNY 706,842,128.58, compared to CNY 133,054,725.77 in the previous year, indicating a substantial increase[43] - The total equity attributable to shareholders of the parent company was CNY 1,933,801,157.76, down from CNY 1,969,777,193.87 year-over-year[34] - The company’s total equity decreased to CNY 1,509,707,313.99 from CNY 1,768,713,525.10 in the previous year, reflecting a decline of approximately 15%[45] Cash Flow - The cash flow from operating activities for the year-to-date was ¥415,234,524.50, showing a significant increase of 94.07% compared to the same period last year[9] - The company's net cash flow from operating activities increased significantly to CNY 415,234,524.50, compared to CNY 213,964,823.96 in the previous year, representing a growth of approximately 94%[39] - Total cash inflow from operating activities reached ¥1,113,554,604.63, compared to ¥757,744,709.87 in the previous year, indicating a year-over-year increase of about 47%[46] - The cash flow from financing activities showed a net outflow of -¥341,946,686.87, compared to -¥204,428,321.25 in the previous year, representing a decline of approximately 67%[46] Investment and Acquisitions - The company reported non-recurring gains of ¥20,399,069.63 for Q3 2022, with a total of ¥81,181,821.09 for the year-to-date[12] - The company acquired Xinhang Network, which contributed an increase of approximately ¥318 million in assets[12] - The company completed the acquisition of 60% equity of Beijing Xinghan Internet Co., Ltd. on August 2022, enhancing its capabilities in the cybersecurity business and optimizing its existing industrial layout[27] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 44,322[13] - A total of 46 incentive participants will have their restrictions lifted, allowing for the release of 1,221,300 shares, which is 0.13% of the company's total share capital[23] Research and Development - Research and development expenses for the first three quarters of 2022 were CNY 113,067,798.35, a slight decrease from CNY 118,666,926.19 in the same period of 2021[36] - The company’s research and development expenses for the first three quarters were CNY 47,436,559.43, slightly down from CNY 50,380,259.67 in the previous year[45]

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 15%[17]. - The net profit attributable to shareholders was RMB 80 million, up 20% compared to the same period last year[17]. - The company's revenue for the first half of 2022 was CNY 746,121,712.70, a decrease of 9.94% compared to CNY 828,485,443.93 in the same period last year[24]. - Net profit attributable to shareholders was CNY 221,293,216.35, an increase of 11.51% from CNY 198,449,441.50 year-on-year[24]. - The company reported a decrease of 15.68% in net profit after deducting non-recurring gains and losses, amounting to CNY 160,510,464.89 compared to CNY 190,364,262.56 last year[24]. - Basic earnings per share rose by 9.09% to CNY 0.24 from CNY 0.22 in the same period last year[24]. - Future guidance indicates a projected revenue growth of 10-15% for the second half of 2022[17]. - The company achieved total revenue of 746 million yuan in the first half of 2022, a decrease of 9.94% year-on-year, while net profit attributable to shareholders increased by 11.51% to 221 million yuan, with basic earnings per share of 0.24 yuan[67]. User Growth and Market Expansion - User data showed an increase in active users by 25%, reaching a total of 1.5 million users[17]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% growth in that region by the end of 2023[17]. Research and Development - The company has invested RMB 50 million in R&D for new technologies, focusing on smart manufacturing solutions[17]. - The company emphasizes continuous product innovation and has established a robust research and development platform to meet market demands[55]. - Research and development expenses increased by 6.62% to ¥76,694,594.54, up from ¥71,929,376.12, indicating a focus on innovation[78]. - The company has a research and development team of over 300 people, focusing on technologies such as machine vision, artificial intelligence, and industrial internet[66]. Product Development and Innovation - New product development includes the launch of an automated sewing machine, expected to increase production efficiency by 40%[17]. - The company has introduced intelligent factory systems for the sewing and knitting industries, enhancing production efficiency and smart manufacturing capabilities[30]. - The company has developed a comprehensive control system for sewing machines, which includes advanced technologies such as high-speed closed-loop control and multi-functional combination control[52]. - The automatic bottom line changing device has effectively improved the intelligence level of sewing equipment, addressing production efficiency bottlenecks and labor shortages, resulting in a rapid increase in user orders[68]. - The company has launched several innovative products in the knitting equipment sector, enhancing market share and customer satisfaction through technology integration[69]. Financial Position and Cash Flow - The net cash flow from operating activities decreased by 20.31% to CNY 132,261,545.06 from CNY 165,972,662.95 in the previous year[24]. - The company's total assets increased by 1.01% to CNY 2,351,660,202.54 compared to CNY 2,328,155,577.92 at the end of the previous year[24]. - Cash and cash equivalents decreased by 15.97% to ¥627,942,923.08 from ¥747,252,223.83, primarily due to dividend distributions[84]. - The company reported a net cash outflow from financing activities of ¥351,845,685.54, compared to a net outflow of ¥203,803,943.62 in the previous year, reflecting a 73% increase in cash outflow[179]. - The total cash inflow from operating activities reached ¥760,530,602.97, up from ¥546,808,099.29 in the first half of 2021, indicating a year-over-year increase of about 39%[177]. Market Position and Competitive Advantage - The company has maintained a leading market position in the domestic electric control field for sewing equipment, focusing on product innovation and quality[30]. - The company is a leading player in the domestic sewing and knitting equipment control systems, with a strong market share in products such as embroidery machine control systems and special industrial sewing machine control systems[57]. - The company has maintained a stable market share in sock machine products, with ongoing investments in control technology upgrades and platform development[70]. Risks and Challenges - The management highlighted potential risks including fluctuations in raw material prices and changes in international trade policies[17]. - The company faces significant risks from global macroeconomic uncertainties, including geopolitical tensions and domestic pandemic impacts, which may affect the sewing and textile machinery industry[94]. - The company is exploring new business models, including the establishment of a wholly-owned financing leasing subsidiary, which may introduce operational risks due to its different business model[96]. Corporate Governance and Shareholder Information - The company has maintained a good integrity status during the reporting period, with no significant legal judgments or large debts that remain unpaid[125]. - The company distributed cash dividends of RMB 0.4 per share, totaling RMB 369,733,324.4, based on a total share capital of 924,333,311 shares[139]. - The total number of shares decreased from 926,101,711 to 924,333,311 due to a reduction of 1,768,400 shares[141]. - The largest shareholder, Beijing Yiqing Holdings, held 301,025,030 shares, representing 32.57% of the total[148]. - The company has a total of 924,333,311 shares outstanding as of June 30, 2022[192].

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 15%[17] - The company's revenue for the first half of 2022 was CNY 746,121,712.70, a decrease of 9.94% compared to CNY 828,485,443.93 in the same period last year[24] - Net profit attributable to shareholders was CNY 221,293,216.35, an increase of 11.51% from CNY 198,449,441.50 year-on-year[24] - The company achieved total revenue of 746 million yuan in the first half of 2022, a decrease of 9.94% year-on-year, while net profit attributable to shareholders increased by 11.51% to 221 million yuan[67] - Operating revenue for the first half of 2022 was CNY 746,121,712.70, a decrease of 9.93% compared to CNY 828,485,443.93 in the same period of 2021[164] - Operating profit increased to CNY 257,401,843.58, up 9.66% from CNY 235,619,644.70 year-on-year[167] - The company reported a basic earnings per share of CNY 0.24, up from CNY 0.22 in the same period last year[167] Research and Development - The company is investing RMB 50 million in R&D for new technologies related to smart manufacturing[17] - Research and development expenses increased by 6.62% to ¥76,694,594.54, up from ¥71,929,376.12, indicating a focus on innovation[78] - The company has a research and development team of over 300 people, focusing on the integration of machine vision, artificial intelligence, and industrial internet technologies[66] - The company continues to innovate in product technology, focusing on high-end and intelligent development in its control systems[32] - The company has developed several industry-leading technologies, including integrated control systems for embroidery machines and special sewing machines[52] Market Expansion and Strategy - Future outlook includes a projected revenue growth of 10% for the second half of 2022, driven by market expansion strategies[17] - Market expansion efforts include entering two new international markets by the end of 2022[17] - The company has completed a strategic acquisition of a competitor, enhancing its market share by 5%[17] - The company maintains a leading market position in the sewing equipment sector, with the new generation high-end MATE A8 control system entering mass application and over 20 new special embroidery products launched to meet diverse market demands[68] Operational Efficiency - The gross profit margin improved to 35%, up from 30% in the same period last year[17] - The automatic bottom line changing device has effectively improved the intelligence level of sewing equipment, addressing production efficiency bottlenecks and labor shortages, resulting in a rapid increase in user orders during the reporting period[68] - The company has established a comprehensive multi-level technical/service support system, with over 30 domestic offices and several overseas offices to provide efficient services to major sewing and knitting equipment manufacturers and end-users[62] - The company has launched intelligent factory systems for the sewing and knitting industries, enhancing production efficiency and automation[30] Financial Position - The company maintains a strong cash position with RMB 200 million in cash reserves, ensuring liquidity for future investments[17] - Cash and cash equivalents decreased by 15.97% to ¥627,942,923.08 from ¥747,252,223.83, primarily due to dividend distributions[84] - The total assets increased from ¥2,328,155,577.92 to ¥2,351,660,202.54, reflecting a growth of approximately 1.0%[158] - Total liabilities increased from ¥308,783,220.16 to ¥476,293,704.98, a significant rise of about 54.3%[158] - The total equity attributable to shareholders decreased from ¥1,969,777,193.87 to ¥1,823,480,806.58, a decline of approximately 7.4%[160] Environmental Responsibility - The company has implemented measures to reduce carbon emissions, including the development of a new high-speed closed-loop drive embroidery control system that improves efficiency by 30% and reduces energy consumption[114] - The company actively invested in photovoltaic power stations to promote clean energy and fulfill its corporate social responsibility[75] - The company has implemented waste management practices, including the classification and recycling of waste materials, to minimize environmental impact[110] - The company strictly adheres to environmental protection laws and has not faced any administrative penalties for environmental violations during the reporting period[113] Shareholder and Equity Management - The company distributed cash dividends of RMB 0.4 per share, totaling RMB 369,733,324.4, based on a total share capital of 924,333,311 shares[139] - The company completed the repurchase and cancellation of 1.684 million restricted shares due to the departure of two incentive plan participants and unmet performance conditions for the remaining shares[144] - The total number of shares decreased from 926,101,711 to 924,333,311 due to a reduction of 1,768,400 shares[141] - The company has committed that during their tenure, directors and senior management will not transfer more than 25% of their shares annually, and cannot transfer shares within six months after leaving the position[120]

Financial Performance - The company's operating revenue for Q1 2022 was ¥397,583,519.23, representing a year-on-year increase of 6.95%[6] - The net profit attributable to shareholders for Q1 2022 was ¥79,559,422.63, reflecting a growth of 2.94% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥78,861,047.28, which is an increase of 5.00% year-on-year[6] - The basic earnings per share for Q1 2022 was ¥0.09, up by 12.50% from the previous year[6] - Total revenue for Q1 2022 reached ¥177,968,728.50, up 16.5% from ¥152,741,791.78 in Q1 2021[35] - Net profit for Q1 2022 was ¥11,730,533.19, an increase of 43.5% compared to ¥8,168,132.05 in Q1 2021[35] - The net profit from continuing operations for Q1 2022 was CNY 11,730,533.19, compared to CNY 8,168,132.05 in Q1 2021, representing a significant increase[37] - The total comprehensive income for Q1 2022 was CNY 11,730,533.19, reflecting the company's overall financial performance improvement[37] Assets and Liabilities - Total assets at the end of Q1 2022 amounted to ¥2,421,324,107.20, marking a 4.00% increase from the end of the previous year[9] - Total assets as of March 31, 2022, amounted to RMB 2,421,324,107.20, up from RMB 2,328,155,577.92 at the end of 2021[21] - Total liabilities increased to RMB 690,747,829.56 in Q1 2022 from RMB 308,783,220.16 in Q1 2021[23] - The company's total liabilities increased to ¥598,175,089.31 in Q1 2022 from ¥133,054,725.77 in Q1 2021, indicating a significant rise[35] - The total equity attributable to shareholders decreased to RMB 1,681,163,672.48 in Q1 2022 from RMB 1,969,777,193.87 in Q1 2021[23] - The company’s total equity decreased to ¥1,412,271,114.27 in Q1 2022 from ¥1,768,713,525.10 in Q1 2021, reflecting a decline of 20.1%[35] Cash Flow - The net cash flow from operating activities for Q1 2022 was ¥17,547,675.86, with no year-on-year comparison available[6] - The company's operating cash flow for Q1 2022 was ¥17,547,675.86, a significant improvement compared to a negative cash flow of ¥3,526,935.43 in Q1 2021, representing a turnaround of approximately 598%[30] - Cash inflow from operating activities totaled CNY 330,502,786.48 in Q1 2022, up from CNY 95,235,508.55 in Q1 2021, indicating a growth of approximately 247%[37] - The net cash flow from operating activities improved to CNY 49,196,448.78 in Q1 2022, compared to a net outflow of CNY 38,262,141.68 in Q1 2021[37] - Cash and cash equivalents at the end of Q1 2022 were ¥725,466,993.66, compared to ¥594,597,697.42 at the end of Q1 2021, indicating a year-over-year increase of 22.0%[30] - Cash and cash equivalents at the end of Q1 2022 stood at CNY 650,944,249.22, an increase from CNY 514,182,806.20 at the end of Q1 2021[39] Research and Development - Research and development expenses increased to RMB 44,433,644.87 in Q1 2022 from RMB 34,675,696.83 in Q1 2021, marking a rise of 28.2%[26] - Research and development expenses rose to ¥19,989,954.48 in Q1 2022, compared to ¥18,762,033.33 in Q1 2021, marking an increase of 6.5%[35] Corporate Actions - The company plans to acquire 100% equity of Beijing Yiqing Asset Management Co., Ltd. and 45% equity of Beijing Hongxing Co., Ltd. through a share issuance and cash payment[17] - The company is currently undergoing a restructuring process, which is still under review by the China Securities Regulatory Commission[18]

Financial Performance - The company's operating revenue for 2021 was CNY 1,504,881,075.44, representing an increase of 80.76% compared to CNY 832,533,320.34 in 2020[29]. - The net profit attributable to shareholders for 2021 was CNY 357,943,550.65, a 67.00% increase from CNY 214,340,674.65 in 2020[29]. - The net cash flow from operating activities for 2021 was CNY 254,717,435.03, up 168.26% from CNY 94,949,989.60 in 2020[29]. - The total assets at the end of 2021 were CNY 2,328,155,577.92, reflecting a 12.34% increase from CNY 2,072,461,930.55 at the end of 2020[29]. - The basic earnings per share for 2021 was CNY 0.39, a 69.57% increase compared to CNY 0.23 in 2020[29]. - The weighted average return on equity for 2021 was 19.10%, an increase of 6.87 percentage points from 12.23% in 2020[29]. - The company achieved total revenue of 1.505 billion RMB in 2021, an increase of 80.76% compared to the previous year[39]. - The total profit reached 416 million RMB, reflecting a growth of 65.72% year-over-year[39]. - Net profit attributable to shareholders was 358 million RMB, marking a 67.00% increase from the prior year[39]. - The company's operating income reached ¥1,458,508,142.87, representing an increase of 85.52% compared to the previous year[112]. - The company reported a gross profit margin increase, with operating costs rising by 81.96% to 885 million yuan, indicating strong sales growth[106]. - The gross margin for the sewing and knitting equipment control segment was 40.05%, with a slight increase of 0.42 percentage points year-over-year[112]. - The gross margin for the knitting equipment control segment decreased by 3.47 percentage points to 26.44%[112]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion in Q3 2023, representing a 15% year-over-year growth[200]. - The company provided an optimistic outlook for Q4 2023, projecting revenue growth of 10% to 12%[200]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 4 RMB per 10 shares, totaling approximately 369.73 million RMB, pending shareholder approval[8]. - The total share capital for the dividend distribution is 924,333,311 shares[8]. - The company has a three-year dividend plan approved, indicating a commitment to shareholder returns[180]. Risk Management - The company reported no significant risks affecting its operations during the reporting period, with potential risks including macroeconomic changes due to the pandemic and international market fluctuations[12]. - The company emphasizes the importance of risk awareness regarding future plans and development strategies, advising investors to be cautious[9]. - The company has not faced any substantial operational risks during the reporting period[12]. - The company faces significant uncertainty risks due to the ongoing global pandemic, which has impacted market demand and the macroeconomic environment[156]. - The international market demand for the company's products is heavily influenced by geopolitical changes, which could affect export sales[158]. - The company's business is highly concentrated in the sewing and knitting machinery sector, making it vulnerable to cyclical fluctuations in the textile and apparel industry[158]. Audit and Compliance - The company received a standard unqualified audit report from Da Xin Accounting Firm, ensuring the accuracy and completeness of the financial report[7]. - The financial report is signed and sealed by the company's legal representative, financial director, and accounting supervisor[16]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties[10]. - The company has not violated decision-making procedures for external guarantees[10]. - The company has established a comprehensive governance structure, including a board of directors and supervisory board, to ensure effective management and oversight[176]. - The company has a governance structure that complies with relevant laws and regulations, ensuring the independence of its board and committees[163]. - The board of directors consists of 9 members, including 3 independent directors, ensuring a balanced decision-making process[163]. - The supervisory board actively monitors the company's operations and financial status, ensuring compliance and protecting shareholder interests[166]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate reporting of financial and operational data[170]. Product Development and Innovation - The company launched several new products in the embroidery machine control sector, enhancing competitiveness and market presence[42]. - The special industrial sewing machine control platform has entered the productization phase, receiving positive feedback from both domestic and international clients[43]. - The knitting machine control segment has seen a significant increase in market influence, contributing notably to overall revenue[44]. - The company implemented strategic human resource planning and talent development initiatives, enhancing management innovation and operational efficiency[50]. - The company is focused on developing high-efficiency, energy-saving machinery and control systems to meet growing consumer demands[173]. - The company is investing heavily in R&D, with a budget increase of 30% to enhance technology development[200]. - The company is exploring advanced technologies to improve product quality and reduce time-to-market for new offerings[194]. - The company is focused on compliance with regulations regarding major asset restructuring[183]. Market Position and Strategy - The company is a leading player in the domestic sewing equipment control field, focusing on the development and production of intelligent equipment computer control systems[72]. - The company has established a strong foundation in product technology innovation, quality, production scale, and service support, ensuring its leading market position[72]. - The company’s control systems are primarily used in sewing and knitting machinery, which are essential components in the production of garments, bags, and other textile products[72]. - The company is expanding its smart factory cloud platform, enhancing user value and technical capabilities in the sewing and knitting industry[89]. - The company is committed to enhancing its international market share and operational capabilities amid global trade challenges[150]. - The company is targeting a revenue growth of 14.73% compared to the previous year[155]. - The company is exploring strategic acquisitions to bolster its market position, with a focus on companies in the tech sector[200]. - The management team emphasized the importance of strategic partnerships to drive growth and innovation in the upcoming fiscal year[194]. Social Responsibility and Community Engagement - The company emphasizes social responsibility, integrating it into business operations and contributing to community welfare and environmental sustainability[173]. - The company actively participates in public welfare activities, including support for underprivileged families, demonstrating its commitment to social responsibility[173]. - The company published its first social responsibility report in 2022, reflecting its commitment to transparency and accountability in social practices[174]. Employee Management and Incentives - The company has established a comprehensive performance management and compensation system to align employee incentives with business outcomes[167]. - The company has implemented a restricted stock incentive plan for senior management and key personnel to enhance motivation and retain talent[167]. - The company employed 350 R&D personnel, making up 33.98% of the total workforce[127]. Future Outlook - Future outlook indicates a strong commitment to new product development and technology innovation, aiming for a 140.63% increase in R&D investment[194]. - The company plans to expand its market presence, targeting new geographical regions to enhance sales and user acquisition[194]. - There are ongoing discussions regarding potential mergers and acquisitions to strengthen the company's market position and diversify its product offerings[194]. - New product launches are expected to contribute an additional 200 million in revenue over the next quarter[200]. - The company is exploring advanced technologies to improve product quality and reduce time-to-market for new offerings[194]. - The management emphasized a commitment to sustainability initiatives, aiming for a 20% reduction in carbon footprint by 2025[200].

Financial Performance - The company's operating revenue for Q3 2021 was ¥363,141,299.55, representing a year-on-year increase of 73.43%[5] - The net profit attributable to shareholders for the same period was ¥97,518,818.87, reflecting a growth of 104.10% compared to the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥92,962,109.85, up by 128.73% year-on-year[5] - The basic earnings per share for the year-to-date period was ¥0.11, an increase of 120.00% compared to the same period last year[7] - The net profit for the third quarter of 2021 reached CNY 302,325,269.32, a significant increase from CNY 119,806,919.77 in the same period of 2020, representing a growth of approximately 152.5%[36] - Operating profit for the third quarter was CNY 346,058,932.63, compared to CNY 128,876,936.58 in the previous year, indicating an increase of about 168.5%[36] - The company reported a total profit of CNY 349,810,470.02 for the third quarter, up from CNY 139,400,494.37 in the same quarter of 2020, which is an increase of approximately 150.1%[36] - Earnings per share (EPS) for the third quarter was CNY 0.32, compared to CNY 0.13 in the same period last year, representing a growth of 146.2%[36] Revenue and Costs - The company reported total operating revenue of CNY 1,191,626,743.48 for the first three quarters of 2021, a significant increase from CNY 560,478,762.38 in the same period of 2020, representing a growth of approximately 112.3%[33] - The total operating costs for the first three quarters of 2021 were CNY 889,768,410.03, compared to CNY 466,955,598.81 in 2020, indicating an increase of about 90.5%[33] - The company reported a significant increase in revenue due to the recovery of domestic demand and the return of some orders from abroad, with a year-to-date revenue growth of 112.61%[12] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥2,294,755,391.06, showing a growth of 10.73% from the end of the previous year[8] - As of September 30, 2021, the company's total assets amounted to CNY 2,294,755,391.06, an increase from CNY 2,072,461,930.55 at the end of 2020, representing a growth of about 10.7%[32] - The company’s total liabilities increased to CNY 335,980,150.51 as of September 30, 2021, from CNY 226,592,936.14 at the end of 2020, indicating a rise of about 48.4%[32] - Total current liabilities were RMB 224,617,263.72, with an increase of RMB 1,536,664.00 compared to the previous period[45] - Total liabilities amounted to RMB 226,592,936.14, reflecting an increase of RMB 2,621,693.83[46] Cash Flow - The net cash flow from operating activities for the year-to-date period increased by 219.12% year-on-year[12] - Cash flow from operating activities generated a net amount of CNY 213,964,823.96, up from CNY 67,047,495.82 in the same quarter of 2020, reflecting a growth of approximately 218.5%[40] - The company reported a decrease in investment cash inflow to CNY 373,170,271.95 from CNY 924,988,516.22 in the previous year, a decline of about 59.7%[40] - The net cash flow from financing activities was negative at CNY -208,201,859.75, compared to CNY -205,934,376.42 in the same quarter of 2020, showing a slight increase in outflow[40] Shareholder Information - The top shareholder, Beijing Yiqing Holdings Co., Ltd., holds 32.50% of the shares, with a total of 301,025,030 shares[14] - The company plans to repurchase and cancel a total of 176,840 shares of restricted stock due to the departure of certain employees and unmet performance conditions from the 2019 incentive plan[23] - The company’s equity attributable to shareholders reached CNY 1,909,345,909.53 as of September 30, 2021, compared to CNY 1,813,125,786.80 at the end of 2020, reflecting an increase of approximately 5.3%[32] Research and Development - Research and development expenses rose to CNY 118,666,926.19 in the first three quarters of 2021, up from CNY 74,961,006.88 in 2020, reflecting a growth of approximately 58.1%[33] Restructuring Plans - The company is in the process of a restructuring plan involving the acquisition of 100% equity in Beijing Yiqi Asset Management Co., Ltd. and 45% equity in Beijing Hongxing Co., Ltd., with the plan currently under review by the China Securities Regulatory Commission[21] - The company is currently working with intermediaries to fulfill review procedures for the restructuring, with the timeline for regulatory approval remaining uncertain[22] Other Financial Metrics - The weighted average return on equity for the reporting period was 5.51%, a decrease of 94.70% compared to the previous year[8] - The company received government subsidies amounting to ¥1,407,319.34 during the reporting period[9] - The company experienced a significant increase in other income, which rose to CNY 37,302,489.92 from CNY 23,020,801.78, reflecting an increase of approximately 62.5%[36] - The company adopted new accounting standards effective January 1, 2021, impacting the reporting of lease liabilities and right-of-use assets[48]

Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching RMB 500 million, representing a year-on-year growth of 25%[15]. - The company's operating revenue for the first half of 2021 reached RMB 828.49 million, a year-on-year increase of 135.97%[22]. - Net profit attributable to shareholders was RMB 198.45 million, up 182.94% compared to the same period last year[22]. - The net profit after deducting non-recurring gains and losses was RMB 190.36 million, reflecting a growth of 266.23% year-on-year[22]. - The company reported a total profit of RMB 239 million, a year-on-year increase of 191.85%[22]. - The company's total comprehensive income attributable to shareholders of the parent company was ¥198,449,441.50, compared to ¥70,138,544.77 in the first half of 2020, marking an increase of 182.5%[175]. - The company achieved a gross profit margin of approximately 41.5% in the first half of 2021, compared to 13.5% in the same period of 2020[172]. - The company's cash flow from operating activities was RMB 165.97 million, a significant recovery from a negative cash flow of RMB 0.82 million in the previous year[22]. Market Position and Growth - User data indicates a growing customer base, with active users increasing by 15% compared to the previous year, reaching 1.2 million users[15]. - The company has maintained a leading market position in the domestic sewing equipment control field, benefiting from the recovery of domestic demand post-pandemic[30]. - The company is expanding its market presence, targeting new regions in Southeast Asia, with plans to increase market share by 5% in the next year[15]. - The demand for embroidery machine control systems and special industrial sewing machine control systems showed strong growth during the reporting period[35]. - The knitting machinery sector experienced a 220% year-on-year increase in sales volume in the first half of 2021, with the export value of flat knitting machines reaching $13.5712 million, up 42.3%[59]. Research and Development - Investment in R&D has increased by 30% compared to the previous year, focusing on innovative technologies and product enhancements[15]. - The company emphasizes a "four generations" R&D approach, focusing on continuous innovation and application of cutting-edge technologies[39]. - The company has developed several industry-leading technologies, including integrated electronic control systems for embroidery machines and advanced control technologies for special sewing machines[62]. - The company has over 300 R&D personnel, focusing on multi-disciplinary technology in the sewing and knitting equipment control industry[74]. - R&D expenses increased by 32.35% to ¥71,929,376.12, reflecting the company's commitment to new product development[89]. Strategic Initiatives - A strategic acquisition of a smaller tech firm is in progress, aimed at enhancing the company's technological capabilities and product offerings[15]. - The company is actively exploring new product development and upgrades to meet domestic and international market demands[64]. - The company plans to issue 1,805,676,712 shares and pay ¥63.32 million in cash to acquire 100% of Beijing Yiqing Asset Management Co., which is expected to diversify its business and enhance sustainable development capabilities[86]. - The company is undergoing a five-year strategic planning initiative to enhance talent development and organizational structure, aiming for innovative growth[85]. Sustainability and Social Responsibility - The management emphasizes a commitment to sustainability and social responsibility, with initiatives aimed at reducing carbon emissions by 15% over the next three years[15]. - The company has implemented measures to reduce carbon emissions, including innovations in product applications and energy-saving improvements in production processes[128]. - The company has achieved a green coverage rate of over 20% at its new production and R&D base in Zhuji, enhancing its ecological carbon sink capacity[132]. - The company has no industrial wastewater discharge, only domestic sewage, and adheres to environmental regulations[124]. - The company has implemented measures for solid waste and hazardous waste management, ensuring compliance with environmental standards[125]. Financial Stability - The company has maintained a strong balance sheet, with total assets valued at RMB 1.2 billion and a debt-to-equity ratio of 0.5, indicating financial stability[15]. - The total assets at the end of the reporting period were RMB 2.18 billion, an increase of 5.34% from the previous year[22]. - Cash and cash equivalents at the end of the period amounted to ¥686,935,170.03, representing 31.46% of total assets, an increase of 5.27% compared to the previous year[92]. - The company's total liabilities reached CNY 337,214,667.18, compared to CNY 226,592,936.14, showing an increase of approximately 48.9%[166]. Risks and Challenges - The company has identified potential risks, including fluctuations in international market demand and supply chain disruptions, which could impact future performance[3]. - The company faces risks from uncertainties in the global macro environment and market demand due to the ongoing COVID-19 pandemic[103]. - The company is actively working to reduce the risk of revenue volatility caused by high business concentration in embroidery machine control systems[106]. - The company’s products are primarily exported to numerous countries, making it susceptible to fluctuations in international trade dynamics[104]. Corporate Governance - The company held 2 shareholder meetings during the reporting period, with all proposals approved[112]. - There were changes in the board and supervisory committee, with two resignations and one election[113]. - No profit distribution or capital reserve transfer was proposed, with no dividends or bonus shares issued[114]. - The company has not reported any significant litigation or arbitration matters during the reporting period[139].

Financial Performance - Operating revenue for the period reached CNY 371,747,772.07, representing a 78.13% increase year-on-year[13] - Net profit attributable to shareholders increased by 115.92% to CNY 77,290,609.65 compared to the same period last year[13] - The net profit for Q1 2021 reached CNY 79,928,815.27, compared to CNY 35,932,570.59 in Q1 2020, indicating an increase of about 122.2%[32] - The gross profit margin for Q1 2021 was approximately 39.4%, compared to 33.4% in Q1 2020, indicating an improvement in profitability[32] - The company reported a basic earnings per share of CNY 0.08 for Q1 2021, up from CNY 0.04 in Q1 2020, reflecting a 100% increase[32] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, with a reduction in outflow to CNY -3,526,935.43 from CNY -24,231,377.00 in the previous year[13] - The cash and cash equivalents decreased to ¥594,597,697.42 from ¥652,528,411.30, indicating a reduction in liquidity[24] - Cash flow from operating activities showed a net outflow of CNY 3,526,935.43, an improvement from a net outflow of CNY 24,231,377.00 in Q1 2020[35] - The company experienced a net decrease in cash and cash equivalents of CNY 57,930,713.88 in Q1 2021, contrasting with an increase of CNY 121,680,522.76 in Q1 2020[37] Assets and Liabilities - Total assets increased by 6.41% to CNY 2,205,404,544.28 compared to the end of the previous year[13] - The total assets as of March 31, 2021, amounted to CNY 1,803,202,044.25, up from CNY 1,783,384,003.80 at the end of 2020[29] - The company's total liabilities increased to CNY 173,058,246.98 in Q1 2021 from CNY 161,408,338.58 in Q1 2020, reflecting a rise of approximately 7.3%[29] - The total liabilities of the company were CNY 226,592,936.14, with current liabilities accounting for CNY 224,617,263.72[41] Shareholder Information - The total number of shareholders reached 49,542 by the end of the reporting period[16] - The largest shareholder, Beijing Yiqing Holdings, holds 32.50% of the shares, totaling 301,025,030 shares[16] - The total equity attributable to shareholders of the parent company rose to CNY 1,890,416,396.45 as of March 31, 2021, compared to CNY 1,813,125,786.80 at the end of 2020, marking an increase of about 4.3%[29] Research and Development - Research and development expenses as a percentage of operating revenue decreased by 6.18 percentage points to 9.33%[13] - Research and development expenses for Q1 2021 were CNY 34,675,696.83, compared to CNY 32,378,283.85 in Q1 2020, showing an increase of about 7.1%[31] Other Income and Expenses - Other income increased by 176.98% to ¥8,845,731.15, driven by growth in revenue leading to higher software tax refunds[21] - The company’s income tax expense increased by 73.64% to ¥14,044,127.13, attributed to higher profits[21] - The company’s investment income decreased by 72.88% to ¥603,966.67 due to cash management strategies following the maturity of financial products[21] Government Support - The company received government subsidies amounting to CNY 994,156.05 during the period[16]