2018 年第三季度报告 公司代码：603326 公司简称：我乐家居 南京我乐家居股份有限公司 2018 年第三季度报告 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 9 | 2018 年第三季度报告 1 / 22 一、 重要提示 | 目录 | | --- | 二、 公司基本情况 1.3 公司负责人 NINA YANTI MIAO(缪妍缇）、主管会计工作负责人 刘贵生 及会计机构负责人（会 计主管人员） 黄宁泉 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 2018 年第三季度报告 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | --- | --- | --- | --- | | | | | 减(%) | | 总资产 | 1,166,542,499.37 | 1,151,799,946.77 | 1.28 | | 归属于上市公司 股东的净资产 | 788,846,683.68 | ...

Financial Performance - The company's revenue for the first half of 2018 was CNY 428,043,294.12, representing a 26.42% increase compared to CNY 338,576,514.04 in the same period of 2017[19] - The net profit attributable to shareholders for the first half of 2018 was CNY 19,900,619.82, a 60.55% increase from CNY 12,394,895.47 in the previous year[19] - Basic earnings per share for the first half of 2018 were CNY 0.0881, a 19.39% increase from CNY 0.0738 in the same period of 2017[20] - The total profit for the same period was 24.75 million RMB, reflecting a year-on-year growth of 38.29%[45] - The net profit attributable to shareholders reached 19.90 million RMB, marking a significant year-on-year increase of 60.55%[45] - Operating profit for the first half of 2018 was ¥23,517,246.45, an increase of 30.8% from ¥18,029,975.68 in the same period of 2017[109] Cash Flow - The net cash flow from operating activities was negative CNY 37,818,726.06, a decrease of 148.00% compared to a positive CNY 78,784,146.14 in the first half of 2017[19] - The net cash flow from investment activities was approximately 41.77 million, a significant improvement compared to -227.81 million in the previous year, due to accelerated investment project progress[51] - The net cash flow from financing activities decreased by 103.75% to approximately -13.54 million, primarily due to a lack of significant fundraising activities compared to the previous year[53] - The company's cash flow from operating activities was negatively impacted by increased payments for goods and services, which totaled 265,791,749.96 RMB, up from 212,936,925.50 RMB in the previous year[117] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,116,008,151.09, down 3.11% from CNY 1,151,799,946.77 at the end of 2017[19] - The net assets attributable to shareholders decreased by 0.36% to CNY 741,093,783.53 from CNY 743,736,173.12 at the end of 2017[19] - The company's total current assets of RMB 525,176,649.07 as of June 30, 2018, a decrease from RMB 660,535,292.61 at the end of 2017[100] - Total liabilities decreased from CNY 408,063,773.65 to CNY 374,914,367.56, a decline of about 8.1%[102] Market and Industry Insights - The overall kitchen cabinet market is experiencing rapid growth, with sales revenue in the industry reaching ¥490.89 billion in 2017, reflecting a growth rate of 10.29%[33] - The penetration rate of customized wardrobes in China is approximately 30%, indicating significant growth potential compared to 60-70% in Western countries[34] - The company continues to focus on the design and production of customized furniture, including the "Jun Yue" and "Man En" series, which emphasize high-end aesthetics and functionality[27][28] Operational Efficiency - The company utilizes a combination of self-production and outsourcing for its manufacturing processes, ensuring quality control throughout production[32] - The company has established a highly automated and informationized factory, significantly improving production efficiency and enabling large-scale flexible customization[40] - The integration of the "Wo Le Design Software" with the ERP system has streamlined operations, reducing labor costs and enhancing efficiency[41] Risks and Challenges - The company faces risks related to real estate market fluctuations and intensified market competition, which could impact operational performance[58] - The company faces risks in product development and design, needing to adapt to changing consumer preferences to maintain competitiveness[61] - Raw material price volatility poses a risk to cost control, impacting overall performance if prices fluctuate significantly[61] Shareholder and Capital Structure - The total number of shares increased from 161,234,500 to 225,988,140 after the issuance of new shares and capital reserve conversion[82] - The largest shareholder, NINAYANTIMIAO, holds 144,513,600 shares, representing 63.95% of the total shares[87] - The company distributed a cash dividend of RMB 0.16 per share and converted 0.4 shares from capital reserves for each share held[82] Compliance and Governance - The company has established and implemented an ISO14001 environmental management system to control environmental factors and ensure compliance with environmental policies[78] - There were no major lawsuits or arbitration matters during the reporting period[73] - The company has not proposed any profit distribution or capital reserve increase for the half-year period[64] Accounting Policies - The company’s accounting policies include specific provisions for bad debt reserves, fixed asset depreciation, and revenue recognition, ensuring compliance with accounting standards[144] - The company recognizes joint ventures and jointly controlled operations, ensuring that each party confirms their share of assets and liabilities[157] - Financial assets are classified into four categories upon initial recognition, including those measured at fair value with changes recognized in profit or loss[163]

2018 年第一季度报告 公司代码：603326 公司简称：我乐家居 1 / 19 南京我乐家居股份有限公司 2018 年第一季度报告 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减(%) | | | 总资产 | 1,046,966,224.58 | 1,151,799,946.77 | | -9.10 | | 归属于上市公司 | 742,217,438.24 | 743,736,173.12 | | -0.20 | | 股东的净资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | 经营活动产生的 | -128,659,250.85 | 7,179,803.21 | | -1,891.96 | | 现金流量净额 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减（%） | | | 营业收入 | 150,798,213.86 | 119,699,475.30 | | 25.98 | | 归属于上市公司 | -3 ...

Financial Performance - The company achieved a net profit of ¥83,765,543.87 in 2017, representing a 21.86% increase compared to ¥68,740,984.79 in 2016[3]. - Total revenue for 2017 was ¥915,012,606.73, marking a 35.32% increase from ¥676,198,135.12 in 2016[20]. - The basic earnings per share for 2017 was ¥0.60, up 5.26% from ¥0.57 in 2016[21]. - The weighted average return on equity decreased to 16.03% in 2017, down 9.29 percentage points from 25.32% in 2016[21]. - The net profit attributable to shareholders reached 83.77 million RMB, up 21.86% compared to the previous year[60]. - The company achieved operating revenue of 915.01 million RMB, a year-on-year increase of 35.32%[60]. - The company’s gross profit margin for the main business was 36.97%, reflecting an increase of 2.25 percentage points compared to the previous year[68]. - The net profit attributable to ordinary shareholders for 2017 was 83,765,543.87 CNY, with a net profit margin of 30.87%, up from 10.73% in 2016[112]. Cash Flow and Assets - Cash flow from operating activities increased by 53.88% to ¥223,764,080.08 in 2017, compared to ¥145,419,130.20 in 2016[20]. - The company’s net cash flow from operating activities was ¥223,764,080.08, reflecting a 53.88% increase year-on-year[78]. - The company’s cash and cash equivalents increased by 172.63% to ¥131,124,828.37, attributed to sales growth and IPO fundraising[78]. - Total assets at the end of the period were ¥1,152,000,000, with cash and cash equivalents making up 21.46% of total assets, a significant increase from 18.28% in the previous year[81]. - The company’s fixed assets increased by 67.78% to ¥314,104,729.00, due to the completion of the first phase of the Lishui factory construction[81]. - The prepayments increased by 108.69% to ¥114,121,765.69, driven by the growth in sales orders[81]. Market and Sales Strategy - The company launched several new product lines in 2017, including the "Wo Le·Bai Yue" series, which combines Eastern and Western design philosophies[28]. - Sales channels include distributors, bulk customers, direct sales, and international sales, with ongoing efforts to expand the sales network and enhance profitability[39]. - The company expanded its dealer network to cover nearly 700 cities, with a steady increase in the number of dealers, enhancing market penetration[65]. - The company’s direct sales channel generated revenue of 70,733,795.84 CNY, a substantial increase of approximately 326% compared to the previous year, indicating successful brand positioning efforts[71]. - The company is facing risks from market competition as the custom furniture sector attracts more players, potentially impacting its market share despite being a leading enterprise[102]. Research and Development - Research and development expenditure amounted to 30.38 million RMB, with 13 projects under development and 4 invention patents obtained[58]. - Total R&D investment amounted to ¥30,375,880, representing 3.32% of operating revenue, with 156 R&D personnel accounting for 10.74% of the total workforce[77]. - The company is committed to integrating industrial and information technology in its smart factories to improve product quality and design[27]. Corporate Governance and Compliance - The company has not faced any penalties from securities regulatory agencies in the past three years[177]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance and governance standards[184]. - The company maintains independence from its controlling shareholder in business, personnel, assets, and financial matters[184]. - The supervisory board conducted independent oversight of the board of directors and management, with no significant issues reported during the period[191]. Shareholder Information - The company plans to distribute a cash dividend of ¥1.6 per 10 shares and issue 4 additional shares for every 10 shares held[3]. - The largest shareholder, Ms. Miao, holds 103,224,000 shares, representing 64.02% of the total shares[152]. - The company has commitments from major shareholders to not transfer their shares for 36 months post-IPO, ensuring stability in shareholding[114]. - The company’s shareholder base grew significantly, with the total number of ordinary shareholders increasing from 11,347 to 12,257 during the reporting period[149]. Future Outlook and Strategy - The company aims to open over 250 full-house custom furniture stores in 2017 and plans to expand to 500 stores by the end of 2019[98]. - The company’s strategic vision for 2018 includes product leadership, brand upgrading, and driving new retail initiatives to strengthen its market position[91]. - The company plans to enhance its human resources development by improving talent selection, training, and recruitment mechanisms to build a high-quality talent team[100]. - The company is actively pursuing new strategies for growth, including potential mergers and acquisitions to strengthen its market position[170].

2017 年第三季度报告 公司代码：603326 公司简称：我乐家居 南京我乐家居股份有限公司 2017 年第三季度报告 1 / 22 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 10 | 2017 年第三季度报告 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人 NINA YANTI MIAO(缪妍缇）、主管会计工作负责人黄宁泉 及会计机构负责人 （会计主管人员）宋金 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 单位：元 币种：人民币 | | 本报告期末 | | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | --- | | | | | | 减(%) | | | ...

Financial Performance - The company's operating revenue for the first half of 2017 was RMB 338,576,514.04, representing a 47.22% increase compared to RMB 229,983,872.71 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2017 was RMB 12,394,895.47, a significant increase of 1,694.28% from RMB 690,799.15 in the previous year[21]. - The net cash flow from operating activities reached RMB 78,784,146.14, up 88.92% from RMB 41,703,224.50 in the same period last year[21]. - The total assets of the company at the end of the reporting period were RMB 942,650,712.31, an increase of 89.52% compared to RMB 497,386,346.09 at the end of the previous year[21]. - The company's net assets attributable to shareholders increased by 121.33% to RMB 672,866,187.35 from RMB 304,006,197.54 at the end of the previous year[21]. - Basic earnings per share for the first half of 2017 were RMB 0.1033, a 1,681.03% increase from RMB 0.0058 in the same period last year[22]. - The weighted average return on net assets increased to 4.0374% from 0.2887%, an increase of 3.7487 percentage points[22]. - The company achieved a revenue of RMB 338.58 million in the reporting period, representing a growth of 47.22% compared to the same period in 2016[52]. - The net profit attributable to shareholders reached RMB 12.39 million, marking an increase of 1,694.28% year-on-year[52]. Capital and Financing - The company raised a total of RMB 394.80 million through the public offering of 40 million shares at a price of RMB 9.87 per share, with a net amount of RMB 366.07 million after expenses[41]. - The company's cash flow from financing activities surged by 2,826.06% to approximately CNY 360.81 million, primarily due to the public offering of shares[62]. - The company raised ¥40,000,000.00 through shareholder contributions during the period[126]. - The company successfully went public on June 16, 2017, significantly impacting its balance sheet with a capital inflow of approximately 400 million yuan[65]. Market and Product Development - The company focuses on customized furniture design, production, and sales, adhering to E0-level high environmental standards[29]. - The company offers three main product lines: overall kitchen cabinets, customized wardrobes, and whole-house customized furniture[29]. - The overall kitchen cabinet market has seen an average annual growth rate of 35%, with a market capacity of approximately 70 billion[36]. - The whole-house customization business is rapidly emerging, meeting consumer demand for one-stop shopping solutions[37]. - The full-house customization model is expected to have significant market potential, particularly in small to medium-sized housing units, where 53.6% of homes are under 110 square meters[39]. - The company has established a strong brand presence in the customized furniture industry, recognized as a leading brand with multiple honors including "China Famous Trademark" and "Jiangsu Province Famous Brand"[43]. - The company has developed a robust design and R&D capability, holding 73 trademarks, 55 patents, and 14 copyrights as of June 2017[44]. - The company emphasizes comprehensive service capabilities, which are crucial for competitiveness in the customized furniture sector[48]. Operational Efficiency - The company utilizes a combination of self-production and outsourcing for its manufacturing processes[32]. - The company employs an integrated SAP system for production and inventory management, enhancing operational efficiency[32]. - The company has accelerated the optimization of its 3D design software, reducing the time to complete design drawings from two days to two hours, enhancing operational efficiency[55]. - The company utilizes advanced automation and information technology in its production processes, significantly enhancing production efficiency and flexibility[45][47]. Sales and Distribution - The sales channels include distributors, bulk customers, direct sales, and international sales, with ongoing efforts to expand the sales network[34]. - The number of dealers increased to nearly 750, with over 860 dealer specialty stores, and a net increase of more than 100 specialty stores during the reporting period, expected to reach a total net increase of 200 stores by year-end[54]. - The company has established a comprehensive sales system, including market positioning, terminal management, and brand promotion, enhancing brand visibility and economic efficiency[54]. Challenges and Risks - The company reported a net loss of 2,115,325.78 yuan from its subsidiary, Nanjing Youshanmei Cabinet Co., Ltd., indicating challenges in profitability[68]. - The company faces risks from real estate policy adjustments and market fluctuations, which could adversely affect its performance[70]. - The company is adjusting its sales strategy to focus on high-quality clients to mitigate bad debt risks associated with large customer sales channels[70]. - The company emphasizes the importance of product design and development to maintain competitiveness in the rapidly evolving custom furniture market[72]. Corporate Governance and Compliance - The company held five shareholder meetings in 2017, with the first meeting on January 12 and the last on August 21[74]. - The company has implemented a stock incentive plan for 122 senior management and core personnel, granting 1.28 million restricted shares to align their interests with the company's performance[57]. - The actual controller and major shareholders have commitments regarding share transfers, including a 36-month lock-up period post-IPO[76]. - The company has retained Ruihua Certified Public Accountants for the 2016-2018 audit period, with the decision made during the 2016 annual shareholder meeting[78]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards issued by the Ministry of Finance[135]. - The company recognizes revenue based on specific accounting policies tailored to its customized furniture manufacturing operations[138]. - The company’s financial statements reflect a true and complete view of its financial position, operating results, and cash flows[139]. - The company applies fair value measurement for financial instruments, with active market prices used when available, ensuring accurate valuation[156]. - The company recognizes investment income and other comprehensive income based on the share of net profit or loss and other comprehensive income of the invested entity, adjusting the carrying value of long-term equity investments accordingly[178].