2023 年第一季度报告 证券代码：603116 证券简称：红蜻蜓 浙江红蜻蜓鞋业股份有限公司 2023 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 2 / 12 2023 年第一季度报告 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 变动幅度(%) | | --- | --- | --- | | 营业收入 | 604,342,239.23 | 11.86 | | 归属于上市公司股东的净利润 | 21,158,520.80 | 53.86 | | 归属于上市公司股东的扣除非经常 | 12,758,440.29 | 不适用 ...

证券代码：603116 证券简称：红蜻蜓 公告编号：2023-003 浙江红蜻蜓鞋业股份有限公司 关于召开2022年度暨2023年第一季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示 浙江红蜻蜓鞋业股份有限公司（以下简称"公司"）将于2023年4月29日发布 公司《2022年年度报告》和《2023年第一季度报告》，为便于广大投资者更全面 深入地了解公司2022年度及2023年第一季度经营成果、财务状况，公司计划于 2023年5月9日（星期二）上午11:00-12:00举行2022年度暨2023年第一季度业绩 说明会，就投资者关心的问题进行交流。 一、说明类型 本次业绩说明会以网络文字互动形式召开，公司将针对2022年度及2023年 第一季度的经营成果及财务指标的具体情况与投资者进行互动交流和沟通，在 信息披露允许的范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 1、召开时间：2023 年 5 月 9 日（星期二）上午 11:00-12:00 2、召开方式：上证路演中心网络文 ...

Financial Performance - The company's revenue for Q3 2022 was ¥541,028,368.19, representing a decrease of 7.75% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2022 was ¥808,294.50, down 93.82% year-on-year[5] - The basic earnings per share for Q3 2022 was ¥0.0014, a decline of 94.36% compared to the previous year[6] - The net profit attributable to shareholders for the year-to-date period decreased by 44.11% to ¥21,845,556.88[5] - Net profit for the third quarter of 2022 was CNY 17,695,700.57, a decline of 50.9% from CNY 36,088,115.29 in the same quarter of 2021[25] - The operating profit for the third quarter of 2022 was CNY 17,553,565.78, significantly lower than CNY 45,435,515.40 in the previous year, indicating a decrease of 61.4%[24] - The total comprehensive income for Q3 2022 was CNY 17,695,700.57, compared to CNY 36,088,115.29 in Q3 2021, indicating a decline of approximately 51.0% year-over-year[26] - The net income attributable to the parent company for Q3 2022 was CNY 21,845,556.88, down from CNY 39,089,823.80 in Q3 2021, representing a decrease of about 44.0%[26] - Basic and diluted earnings per share for Q3 2022 were both CNY 0.04, compared to CNY 0.07 in Q3 2021, reflecting a decline of approximately 42.9%[26] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,666,804,090.31, an increase of 2.58% from the end of the previous year[6] - The company's total assets increased to CNY 4,666,804,090.31 in Q3 2022, compared to CNY 4,549,617,651.26 in Q3 2021, marking a growth of 2.6%[21] - Total liabilities rose to CNY 1,294,317,987.33 in Q3 2022, up from CNY 1,118,175,024.35 in Q3 2021, representing an increase of 15.8%[21] - The total equity attributable to shareholders of the parent company was CNY 3,234,115,940.57 in Q3 2022, a decrease from CNY 3,288,322,608.19 in Q3 2021, reflecting a decline of 1.6%[21] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥13,649,418.35[6] - Cash inflows from operating activities for the first three quarters of 2022 totaled CNY 1,831,987,772.97, down from CNY 1,947,645,766.66 in the same period of 2021, a decrease of about 5.9%[27] - The net cash flow from operating activities for Q3 2022 was CNY 13,649,418.35, a significant improvement from a net outflow of CNY 110,932,238.02 in Q3 2021[28] - Cash inflows from investment activities for the first three quarters of 2022 were CNY 1,579,525,855.86, compared to CNY 1,755,067,845.39 in the same period of 2021, a decrease of approximately 10.0%[28] - The net cash flow from investment activities for Q3 2022 was CNY 362,522,047.10, a recovery from a net outflow of CNY 145,405,597.03 in Q3 2021[28] - Cash inflows from financing activities for Q3 2022 amounted to CNY 487,997,975.50, significantly higher than CNY 120,000,000.00 in Q3 2021[28] - The net increase in cash and cash equivalents for Q3 2022 was CNY 488,272,905.77, compared to a net decrease of CNY 480,043,050.51 in Q3 2021[28] - The ending balance of cash and cash equivalents as of Q3 2022 was CNY 1,317,778,254.06, up from CNY 515,722,113.43 at the end of Q3 2021[28] Sales and Revenue Breakdown - The company's revenue for the footwear industry in Q3 2022 was CNY 1,512,134,936.32, a decrease of 8.09% compared to the previous year[14] - Direct stores generated revenue of CNY 276,260,139.54, with a gross margin of 57.71%, reflecting a year-on-year increase of 6.91 percentage points[15] - Franchise stores reported revenue of CNY 691,826,044.73, with a gross margin of 30.58%, down 1.40 percentage points from the previous year[15] - Online sales accounted for CNY 401,531,358.98 in revenue, with a gross margin of 32.44%, a decrease of 1.26 percentage points year-on-year[16] - Offline sales generated CNY 1,110,603,577.34 in revenue, with a gross margin of 36.49%, an increase of 3.68 percentage points compared to the previous year[16] - Total operating revenue for the first three quarters of 2022 was CNY 1,662,402,520.44, a decrease of 7.0% compared to CNY 1,787,750,232.97 in the same period of 2021[23] - Total operating costs for the first three quarters of 2022 were CNY 1,657,046,238.31, down from CNY 1,756,475,308.08 in 2021, reflecting a reduction of 5.6%[24] Other Financial Metrics - The weighted average return on equity decreased to 2.5%, down 0.36 percentage points from the previous year[6] - The company reported a loss of ¥2,171,023.36 for net profit after deducting non-recurring gains and losses for Q3 2022[5] - The company received government subsidies amounting to ¥587,039.40 during the reporting period[8] - Research and development expenses for the first three quarters of 2022 were CNY 27,306,658.24, slightly down from CNY 29,615,882.19 in the same period of 2021, reflecting a decrease of 7.8%[24] - The company reported a financial income of CNY 27,108,645.33 for the first three quarters of 2022, compared to CNY 18,758,265.99 in the same period of 2021, showing an increase of 44.4%[24] - The total number of stores at the end of the period was 3,034, with a net increase of 41 stores during the quarter[18] - The company had cash and cash equivalents of CNY 1,337,397,617.44 as of September 30, 2022, compared to CNY 865,445,091.96 at the end of 2021[19] - Accounts receivable increased to CNY 683,471,199.35 from CNY 643,052,410.64 year-on-year[19] - Inventory decreased to CNY 558,223,645.11 from CNY 598,759,166.76 year-on-year[19]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,121,374,152.25, a decrease of 6.65% compared to CNY 1,201,293,247.09 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2022 was CNY 21,037,262.38, down 19.11% from CNY 26,005,847.01 in the previous year[20]. - The basic earnings per share for the first half of 2022 was CNY 0.04, a decrease of 19.11% compared to CNY 0.05 in the same period last year[21]. - Revenue for the reporting period was 1,121,374,152.25 RMB, a decrease of 6.65% compared to the same period last year[66]. - The overall operating income decreased by 7.38% compared to the previous year, with a corresponding decrease in operating costs of 9.74%[88]. - The company reported a net loss of CNY 1,118.38 million across its subsidiaries, with total assets amounting to CNY 338.83 million and net assets of CNY 97.10 million[72]. - The company reported a total comprehensive income of RMB -12,532,382.76, indicating a loss[167]. Cash Flow and Liquidity - The net cash flow from operating activities improved to CNY 11,545,819.32, compared to a negative cash flow of CNY -110,670,187.16 in the same period last year[20]. - The company’s cash and cash equivalents increased by 59.06% to 1,376,581,819.32 RMB, attributed to increased short-term borrowings and matured financial products[68]. - Cash inflow from financing activities reached ¥217,997,975.50, up 336% from ¥50,000,000.00 in the previous period[155]. - The net increase in cash and cash equivalents was ¥347,528,322.37, reversing a decrease of ¥314,653,722.43 in the previous period[155]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,696,102,552.49, an increase of 3.22% from CNY 4,549,617,651.26 at the end of the previous year[20]. - Total liabilities rose to ¥1,321,944,746.28 from ¥1,118,175,024.35, marking an increase of 18.2%[140]. - The total equity decreased to CNY 1,779,689,841.59 in the first half of 2022 from CNY 1,851,138,376.56 in the same period of 2021, representing a decline of 3.87%[142]. Operational Efficiency - The company has implemented a rapid planning and research model based on market demand, enhancing product development efficiency[32]. - The company aims to increase the proportion of direct-to-consumer (DTC) sales to improve efficiency and customer loyalty[36]. - The gross profit margin for self-operated stores was 57.36%, significantly higher than the 32.02% for franchise stores, indicating a focus on improving direct sales[85]. Market Strategy and Expansion - The company aims to become a leading brand in business footwear in China, focusing on the design, development, production, and sales of adult shoes, bags, and children's products[26]. - The company plans to accelerate its multi-brand strategy, focusing on expanding product categories beyond footwear, through self-incubation, agency agreements, or acquisitions[64]. - The company has not disclosed any plans for new product launches or market expansions in the current report[26]. Environmental Compliance - The company is classified as a key pollutant discharge unit in Wenzhou, with major pollutants including particulate matter and VOCs from shoe manufacturing[107]. - The company has established an emergency response plan for environmental incidents, with no incidents reported as of June 30, 2022[111]. - The company is committed to maintaining compliance with local environmental standards, including the "Emission Standards for Air Pollutants in the Footwear Industry"[109]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 20,453[130]. - The largest shareholder, Hong Qing Ting Group Co., Ltd., held 43.64% of the shares, totaling 251,472,200 shares[131]. - The company did not experience any changes in share capital structure during the reporting period[128]. Research and Development - The company has created the first shoe technology laboratory in China and an academician workstation in the footwear industry[40]. - Research and development expenses decreased by 11.52% to 16,888,142.22 RMB, mainly due to reduced material costs[66]. - The company aims to leverage AI algorithms for trend analysis and inventory prediction to address high inventory and out-of-stock issues in the footwear and apparel industry[63].

Financial Performance - The company's revenue for Q1 2022 was CNY 540,249,911.58, representing a decrease of 10.24% compared to the same period last year[3] - The net profit attributable to shareholders was CNY 13,752,083.77, down 34.14% year-on-year[3] - The basic earnings per share (EPS) was CNY 0.03, reflecting a decline of 19.15% compared to the previous year[3] - Total operating revenue for Q1 2022 was CNY 540,249,911.58, a decrease of 10.2% compared to CNY 601,876,657.33 in Q1 2021[16] - Net profit for Q1 2022 was CNY 7,414,531.39, a significant decrease from CNY 24,523,067.32 in Q1 2021[16] - The company's net profit for Q1 2022 was CNY 11,990,296.21, a decrease of 39.1% compared to CNY 19,696,523.12 in Q1 2021[17] - Operating profit for Q1 2022 was CNY 17,149,208.29, down 34.9% from CNY 26,350,194.86 in the same period last year[17] - The total comprehensive income attributable to the parent company was CNY 13,752,083.77, a decrease of 34.3% from CNY 20,880,120.74 in the same quarter last year[18] Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,574,358,641.55, an increase of 0.54% from the end of the previous year[4] - Total assets as of March 31, 2022, amounted to CNY 4,574,358,641.55, slightly up from CNY 4,549,617,651.26 at the end of 2021[13] - Total liabilities as of March 31, 2022, were CNY 1,130,925,718.43, compared to CNY 1,118,175,024.35 at the end of 2021[13] Cash Flow - The net cash flow from operating activities was CNY 9,139,787.37, with no comparative data provided[3] - Cash flow from operating activities showed a net inflow of CNY 9,139,787.37, a significant improvement from a net outflow of CNY -129,640,758.17 in Q1 2021[20] - Cash and cash equivalents as of March 31, 2022, were CNY 1,430,320,394.35, an increase of 65.3% from CNY 865,445,091.96 at the end of 2021[11] - Cash and cash equivalents at the end of Q1 2022 totaled CNY 1,390,871,191.72, up from CNY 873,256,789.59 at the end of Q1 2021[21] - The company recorded cash inflow from investment activities of CNY 792,745,115.03, compared to CNY 641,105,238.01 in the previous year[20] - The net cash flow from investment activities was CNY 490,296,455.96, an increase from CNY 138,488,158.83 in Q1 2021[20] - The company raised CNY 150,000,000.00 through borrowings in Q1 2022, compared to CNY 50,000,000.00 in Q1 2021[20] Shareholder Information - The company had a total of 20,049 common shareholders at the end of the reporting period[8] - The largest shareholder, Hongqiao Group Co., Ltd., held 43.64% of the shares, totaling 251,472,200 shares[9] Operational Metrics - Total operating costs for Q1 2022 were CNY 532,835,380.19, down 7.7% from CNY 577,353,090.01 in Q1 2021[16] - Gross profit margin for Q1 2022 was approximately 1.8%, compared to 4.0% in Q1 2021[16] - Research and development expenses for Q1 2022 were CNY 8,509,199.77, down from CNY 9,981,119.82 in Q1 2021[16] - The company reported a financial expense of CNY -4,110,878.95 in Q1 2022, compared to CNY -2,546,635.57 in Q1 2021, indicating a higher interest income[16] Market Activity - The company did not report any new product launches or significant market expansion strategies during this quarter[2] - Total revenue from operating activities was CNY 594,811,345.43, an increase of 2.5% compared to CNY 578,030,158.08 in Q1 2021[19] - Inventory as of March 31, 2022, was CNY 561,338,106.39, a decrease of 6.3% from CNY 598,759,166.76 at the end of 2021[11]

Financial Performance - The company's operating revenue for 2021 was ¥2,511,051,738.22, a decrease of 3.12% compared to ¥2,592,029,903.53 in 2020[22] - The net profit attributable to shareholders for 2021 was ¥22,525,382.75, down 71.34% from ¥78,608,599.78 in 2020[22] - The net cash flow from operating activities decreased by 66.44% to ¥88,521,260.60 in 2021 from ¥263,776,452.42 in 2020[22] - The total assets as of the end of 2021 were ¥4,549,617,651.26, a decline of 6.87% from ¥4,884,975,528.26 at the end of 2020[22] - The basic earnings per share for 2021 was ¥0.05, a decrease of 64.29% compared to ¥0.14 in 2020[23] - The weighted average return on net assets for 2021 was 0.65%, down 1.61 percentage points from 2.26% in 2020[23] - The net assets attributable to shareholders at the end of 2021 were ¥3,288,322,608.19, a decrease of 3.74% from ¥3,416,125,883.33 at the end of 2020[22] - The company reported a net profit of ¥-73,378,097.87 after deducting non-recurring gains and losses, compared to ¥8,377,652.05 in 2020[22] Revenue and Sales Channels - In Q1 2021, the company's revenue was approximately CNY 601.88 million, while in Q4 2021, it increased to CNY 723.30 million, showing a significant growth trend[24] - The net profit attributable to shareholders was CNY 20.88 million in Q1 2021, but it turned negative in Q4 2021, reaching -CNY 16.56 million, indicating a challenging financial environment[24] - The company's online revenue share increased from 30.8% in 2020 to 31.33% in 2021, with e-commerce sales during the 618 shopping festival rising by 38.93% year-on-year[33] - The company opened 120 new direct stores in 2021, including 54 in shopping centers, while optimizing 81 underperforming stores[34] - The private domain sales grew by 10% in 2021, and the amount of stored value increased by 26.5%, reflecting enhanced customer engagement strategies[34] - The new group purchase business generated nearly CNY 50 million in revenue in 2021, with expectations for more orders and income in 2022[36] - The company introduced several new product lines, including the "Le Fu 1957" series and "Kirin Old Dad Shoes," to cater to the rising demand for trendy consumer products[32] Investment and R&D - The company's investment in equity instruments increased from CNY 153.54 million at the beginning of the year to CNY 200.13 million by year-end, reflecting a positive investment strategy[30] - The company’s R&D expenses increased by 2.86% to ¥39,244,356.92, reflecting ongoing investment in new product development[58] - The company is increasing R&D investment in shoe technology, focusing on features such as lightweight, anti-slip, and comfort, to strengthen brand competitiveness[100] Market Trends and Consumer Behavior - In 2021, China's total retail sales of consumer goods grew by 12.5%, recovering from a 3.9% decline in 2020, but faced challenges due to COVID-19 and geopolitical conflicts[38] - The DTC model is gaining traction, allowing brands to directly reach consumers with lower costs and higher efficiency, enhancing customer loyalty and repurchase rates[39] - The sports and leisure trend in the footwear industry has led to increased demand for innovation in leather shoe products, reflecting a shift towards comfort and casual wear[41] - Domestic brands in the footwear sector are gaining popularity, with consumers increasingly favoring products that blend traditional Chinese cultural elements with modern design[42] - Consumer demand is becoming more personalized, with rapid changes in fashion trends driven by technological advancements and social media[43] - The rise of live-streaming e-commerce is accelerating the online transformation of the footwear industry, while physical stores must adapt to new consumer gathering places[44] Corporate Governance and Management - The company has established a compensation decision-making process involving the remuneration and assessment committee, ensuring alignment with industry standards[126] - The company has maintained a consistent governance structure with regular updates and adjustments to its operational framework[129] - The company has a structured approach to performance-based compensation, linking salaries to annual assessments and overall business performance[126] - The company has not faced any penalties from securities regulatory agencies in the past three years, reflecting compliance with regulations[128] Environmental Responsibility - The company reported a total electricity consumption of 9,109,448 kWh in 2021, a decrease of 2,005,824 kWh compared to 2020[162] - Carbon emissions from fossil fuel combustion in 2021 were estimated at 263.98 tons, down from 322.11 tons in 2020, representing a reduction of 58.13 tons[162] - The company has established five waste gas treatment facilities and two wastewater collection and transportation pools, all operating stably and meeting discharge standards[154] - The company conducted environmental monitoring, with all tests for organized and unorganized waste gas, wastewater, noise, and oil smoke meeting standards in 2021[160] Shareholder Information - The total number of shares held by Chairman Qian Jinbo decreased from 67,859,806 at the beginning of the year to 56,339,806, reflecting a reduction of 11,520,000 shares due to personal asset planning needs[118] - The total number of shares held by the company’s executives decreased from 123,332,624 to 111,812,624, indicating a reduction of 11,520,000 shares overall[119] - The company’s total shareholding structure reflects significant changes in the ownership of key executives, particularly with Qian Jinbo's transfer of shares to a private fund[118] - The largest shareholder, Red Dragonfly Group Co., Ltd., holds 251,472,200 shares, representing 43.64% of the total shares[192]

2021 年第三季度报告 证券代码：603116 证券简称：红蜻蜓 浙江红蜻蜓鞋业股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期 比上年同 | | 年初至报告 期末比上年 | | --- | --- | --- | --- | --- | | | | | 年初至报告期末 | | | | | 期增减变 | | 同期增减变 | | | | 动幅度(%) | | 动幅度(%) | | 营业收入 | 586,456,985.88 | -1.73 | 1,787,750 ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,201,293,247.09, representing a 16.67% increase compared to ¥1,029,650,994.81 in the same period last year[16]. - The net profit attributable to shareholders decreased by 31.16% to ¥26,005,847.01 from ¥37,776,742.71 in the previous year[16]. - The basic earnings per share fell by 28.57% to ¥0.05, down from ¥0.07 in the same period last year[18]. - The total assets of the company decreased by 8.78% to ¥4,456,272,182.31 from ¥4,884,975,528.26 at the end of the previous year[16]. - The net cash flow from operating activities was negative at -¥110,670,187.16, compared to -¥85,026,407.87 in the previous year, indicating a worsening cash flow situation[16]. - The company's net assets attributable to shareholders decreased by 3.64% to ¥3,291,803,072.45 from ¥3,416,125,883.33 at the end of the previous year[16]. - The weighted average return on net assets decreased by 0.34 percentage points to 0.76% from 1.10% in the previous year[19]. - The company reported a significant increase in operating costs, with costs rising by 18.17% to ¥811,257,964.77 due to increased revenue[46]. - The company reported a total of ¥4,000,000.00 in financing receivables, an increase from ¥2,000,000.00, indicating a growth of 100%[110]. - The company reported a net profit of -12,532,382.76 yuan for the first half of 2021, compared to a net profit of 26,538,415.58 yuan in the same period of 2020, indicating a significant decline in profitability[121]. Revenue Sources - Online revenue increased by 13.6% year-on-year, with online sales accounting for 28% of total revenue, up from 26.6% in the same period last year[38]. - The company achieved a 53% year-on-year increase in off-store sales and an 87% year-on-year increase in member recharge amounts[38]. - The revenue from leather shoes was ¥912,291,679.89, with a gross profit margin of 33.52%, showing a decrease of 1.39% compared to the previous year[56]. - Direct stores generated a revenue of ¥89,085,516.93 with a gross margin of 40.35%, a decrease of 1.91% year-on-year[57]. - Franchise stores reported a revenue of ¥668,452,020.32 and a gross margin of 34.83%, an increase of 2.64% year-on-year[57]. - Online sales accounted for ¥311,167,924.65 in revenue with a gross margin of 33.79%, reflecting a year-on-year increase of 13.62%[58]. - Offline sales generated ¥804,576,753.05 in revenue with a gross margin of 33.49%, showing a year-on-year increase of 6.46%[58]. - The total revenue for the reporting period was ¥1,115,744,677.70, with a gross margin of 33.57%, an increase of 8.36% year-on-year[58]. Store Operations - The company operates 3,355 offline stores, including 210 self-operated and 3,145 franchised stores[28]. - The company opened 126 new stores and closed 283 stores during the reporting period, resulting in a net decrease of 157 stores, bringing the total to 3,355 stores[53]. - The company opened 30 new children's brand stores, bringing the total to 415, with a sales growth of 27% year-on-year[41]. - The company plans to add over 100 core area direct-operated stores, including more than 50 shopping center stores, to enhance offline business[42]. - The company’s offline retail sales increased significantly, with the addition of 8 new image stores in key areas[38]. Product Development and Strategy - The company launched the "Lefu 1957" series and "Qilin Dad Shoes" series, with a Valentine's Day limited edition high heels recognized in the 2020-2021 Shanghai Design 100+ awards[37]. - The company has implemented a differentiated product strategy based on the "business fashion shoes" positioning, focusing on various business scenarios[27]. - The company aims to accelerate the launch of new fashion brands targeting the younger demographic, particularly focusing on the 90s and 00s generations[42]. - The company is focusing on digital R&D capabilities to improve product development efficiency and reduce material and time costs[41]. - The company has established a strict raw material procurement management system to enhance product quality[27]. Environmental Compliance - The company has established 5 air pollution treatment facilities and 2 wastewater collection and transportation pools, which are currently operating stably and meeting discharge standards[75]. - The company has no new construction projects at this stage, and all existing projects have passed environmental impact assessments and obtained discharge permits, valid from August 31, 2020, to August 30, 2023[76]. - The company has a comprehensive emergency response plan for sudden environmental incidents, which has been in place since 2017, and conducts annual drills to enhance response capabilities[77]. - The company reported a total of 3 monitoring points for waste gas emissions from fixed pollution sources, with a frequency of 1 time per year for benzene measurement[79]. - The company conducted air quality monitoring with a frequency of at least once every six hours, ensuring compliance with environmental regulations[80]. Shareholder Information - The company’s actual controller and shareholders have committed to not transferring or managing their shares for 36 months post-listing[87]. - Shareholders are restricted to transferring no more than 25% of their shares annually during their tenure and must not transfer shares within six months after leaving the company[87]. - The total number of ordinary shareholders at the end of the reporting period was 20,275[99]. - The largest shareholder, Hong Qiang Ting Group, held 43.64% of the shares, totaling 251,472,200 shares[103]. - The company did not experience any changes in its total share capital or share structure during the reporting period[99]. Financial Position - Cash and cash equivalents at the end of the period amounted to ¥592,113,125.43, representing 13.29% of total assets, a decrease of 41.39% compared to the previous year[48]. - Accounts receivable stood at ¥787,739,625.79, accounting for 17.68% of total assets, with a slight decrease of 0.11% year-on-year[48]. - Inventory decreased by 8.91% to ¥639,594,762.06, maintaining a stable proportion of 14.35% of total assets[48]. - Total current assets decreased to ¥3,233,469,685.86 as of June 30, 2021, down from ¥3,709,089,430.05 on December 31, 2020, representing a decline of approximately 12.8%[110]. - Total liabilities decreased to ¥1,048,903,057.19 from ¥1,351,483,319.94, representing a decrease of about 22.4%[112]. Accounting Policies - The company’s financial report indicates no changes in accounting policies or prior period adjustments[139]. - The company adheres to the new leasing standards effective from January 1, 2021, without adjusting comparative period information[154]. - The accounting policies and estimates comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[155]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[159].

Financial Performance - Operating revenue increased by 17.86% to CNY 601,876,657.33 year-on-year[5] - Net profit attributable to shareholders increased by 126.45% to CNY 12,303,947.96 compared to the same period last year[5] - Basic earnings per share rose by 33.33% to CNY 0.04[5] - The company reported a net profit of CNY 2,086,388,475.97 in retained earnings as of March 31, 2021, compared to CNY 2,065,508,355.23 at the end of 2020, indicating a growth of about 1.01%[16] - Net profit for Q1 2021 was ¥19,696,523.12, compared to ¥17,154,773.97 in Q1 2020, representing a growth of 14.2%[22] - Operating profit for Q1 2021 was ¥26,350,194.86, an increase from ¥19,086,924.16 in Q1 2020, marking a rise of 38.4%[22] Asset and Liability Changes - Total assets decreased by 6.69% to CNY 4,558,161,950.19 compared to the end of the previous year[5] - Total current assets decreased to CNY 3,358,771,118.09 from CNY 3,709,089,430.05, reflecting a reduction of about 9.43%[14] - Total liabilities decreased to CNY 1,004,973,218.75 from CNY 1,351,483,319.94, reflecting a decline of about 25.59%[16] - The total liabilities as of Q1 2021 amounted to ¥2,127,890,391.65, down from ¥2,337,816,710.78 in the previous year[21] - Total current liabilities decreased to CNY 1,002,173,946.06 from CNY 1,348,684,047.25, a decline of about 25.69%[16] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -129,640,758.17, compared to CNY -83,169,131.58 in the previous year[5] - Cash and cash equivalents decreased to CNY 917,738,807.08 from CNY 1,010,319,752.12, a decline of approximately 9.14%[14] - Cash inflow from operating activities for Q1 2021 was $214,338,821.24, a significant increase from $121,587,554.85 in Q1 2020, representing an increase of approximately 76.3%[30] - Net cash flow from operating activities for Q1 2021 was -$121,206,270.16, an improvement compared to -$270,808,037.97 in Q1 2020, indicating a reduction in losses[30] - Cash and cash equivalents at the end of Q1 2021 were CNY 873,256,789.59, compared to CNY 665,088,390.29 at the end of Q1 2020, showing an increase in liquidity[28] Shareholder Information - The total number of shareholders reached 21,199 at the end of the reporting period[9] - The largest shareholder, Hongqiao Group Co., Ltd., holds 43.64% of the shares[9] Research and Development - Research and development expenses for Q1 2021 were ¥9,981,119.82, compared to ¥9,805,231.08 in Q1 2020, indicating a slight increase[21] - Research and development expenses increased to CNY 9,547,706.52 in Q1 2021, compared to CNY 8,418,626.01 in Q1 2020, reflecting a focus on innovation[23] Other Income and Expenses - Non-recurring gains and losses totaled CNY 8,576,172.78, primarily from government subsidies and investment income[8] - The company reported a financial income of ¥4,516,749.43 in Q1 2021, down from ¥5,560,703.85 in Q1 2020[22] - The company recorded an investment income of CNY 3,265,339.35 in Q1 2021, down from CNY 25,400,695.40 in Q1 2020, indicating a decline in investment performance[23] - The company incurred a financial expense of CNY -2,917,574.80 in Q1 2021, an improvement from CNY -4,037,705.92 in Q1 2020, indicating better management of financial costs[23]

Financial Performance - The company's operating revenue for 2020 was CNY 2,592,029,903.53, a decrease of 12.72% compared to CNY 2,969,624,533.76 in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 78,608,599.78, down 39.83% from CNY 130,649,164.09 in 2019[23]. - The basic earnings per share for 2020 was CNY 0.14, a decline of 36.36% compared to CNY 0.22 in 2019[24]. - The company's total assets increased by 5.12% to CNY 4,884,975,528.26 at the end of 2020, compared to CNY 4,646,857,244.76 at the end of 2019[23]. - The net cash flow from operating activities for 2020 was CNY 263,776,452.42, an increase of 78.99% from CNY 147,369,091.06 in 2019[23]. - The weighted average return on equity for 2020 was 2.26%, down 1.45 percentage points from 3.71% in 2019[25]. - The net assets attributable to shareholders at the end of 2020 were CNY 3,416,125,883.33, a slight decrease of 0.63% from CNY 3,437,736,388.81 at the end of 2019[23]. - The company reported a decrease in investment income due to lower bank wealth management rates, contributing to the overall decline in performance[25]. Market and Sales Strategy - The company focuses on the adult footwear market with its brand "RED DRAGONFLY," which has been established since 1995, targeting business professionals[34]. - The "RED DRAGONFLY KIDS" brand caters to children aged 3-13, offering stylish and comfortable footwear options[35]. - The company operates a multi-channel sales model with a total of 3,512 offline stores, including 220 self-operated and 3,292 agent stores[39]. - Online sales channels have been prioritized, with a significant focus on e-commerce platforms, live streaming, and social commerce, enhancing overall marketing effectiveness[39]. - The company reported a 130% year-over-year increase in overall sales during the promotional period, with 370,000 pairs of a new product sold during the Double Eleven shopping festival[49]. - Online sales accounted for 30.8% of total sales in 2020, up from 23.7% in 2019, with a year-over-year growth of 12.68% in online sales[50]. - The company has established a design and research center in Guangzhou to focus on the development of fashionable business shoes, aligning with current fashion trends[49]. - The company has closed 918 underperforming stores and opened 264 new ones, resulting in a 6% increase in sales for upgraded model stores[49]. Operational Efficiency and Cost Management - The company has implemented a digital transformation strategy, enhancing operational efficiency through data-driven decision-making and full-channel integration[48]. - The company has achieved a 2.75 percentage point increase in gross margin, reflecting improved profitability from online sales[50]. - The company's operating costs decreased by 13.46% to ¥1,705,485,598.92 from ¥1,970,857,245.01 in the previous year[54]. - The company reduced its inventory by 59.54% year-on-year, transitioning from large batch orders to high-frequency, small-batch orders[60]. - The total cost of direct materials for shoes decreased by 33.66% to ¥222,313,901.02 compared to the previous year[63]. - The total sales expenses decreased by ¥24,500,000, a reduction of 5.24% year-on-year, primarily due to changes in revenue recognition and cost allocation[66]. - The company experienced a 12.18% reduction in management expenses, amounting to a decrease of ¥37,930,000, due to organizational restructuring and cost-cutting measures[69]. Research and Development - The total amount of R&D investment accounted for 1.47% of operating revenue, with 222 R&D personnel, making up 5.20% of the total workforce[74]. - Research and development expenses decreased by ¥6,410,000, representing a decline of 14.39% due to digital transformation and optimization of R&D personnel[70]. Corporate Governance and Shareholder Relations - The company has a stable profit distribution policy, aiming for a minimum cash dividend ratio of 80% during mature stages without major capital expenditures[101]. - The company faces risks from intense market competition and product homogeneity, necessitating continuous innovation to maintain market share[94]. - The company is committed to a sustainable development approach while ensuring reasonable returns for shareholders through its profit distribution strategy[100]. - The company’s net profit attributable to ordinary shareholders for 2020 was RMB 191.24 million, with a cash dividend payout ratio of 78.61%[106]. - The company’s cash dividend policy mandates that at least 10% of the annual distributable profit must be distributed in cash[103]. Environmental and Social Responsibility - The company was classified as a key pollutant discharge unit by the Wenzhou Ecological Environment Bureau in March 2020[132]. - In 2020, the total wastewater discharge was measured with a chemical oxygen demand of 188 mg/L and ammonia nitrogen of 17.0 mg/L at the Dong'ou plant, and 201 mg/L and 13.4 mg/L at the Wuxing plant respectively[132]. - The company disposed of 603.571 tons of general industrial waste in 2020, with 57.046 tons disposed of in the first quarter of 2021[133]. - The company has maintained a consistent commitment to corporate social responsibility, receiving recognition for its reports for eight consecutive years[131]. Future Outlook and Strategic Initiatives - The company plans to focus on market expansion and new product development in the upcoming year[199]. - The company is considering strategic acquisitions to enhance its supply chain efficiency, with a budget of 100 million RMB earmarked for potential deals[156]. - The management team emphasized the importance of enhancing online sales channels, targeting a 30% increase in e-commerce revenue[156]. - The company plans to implement cost-cutting measures, aiming to reduce operational expenses by 8% over the next year[156].