证券代码：603365 股票简称：水星家纺 公告编号：2023-036 上海水星家用纺织品股份有限公司 第五届董事会第八次会议决议公告 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。 一、会议召开情况 （一）审议通过了《2023 年半年度报告及摘要》。 具体内容详见公司于指定媒体披露的《上海水星家用纺织品股份有限公司 2023 年半年度报告》及《上海水星家用纺织品股份有限公司 2023 年半年度报告摘要》。 本议案已经公司第五届董事会审计委员会 2023 年第四次会议审议通过，并同意 提交公司董事会审议。 表决结果：9 票同意，0 票反对，0 票弃权。 特此公告。 上海水星家用纺织品股份有限公司 董 事 会 2023 年 08 月 29 日 1 上海水星家用纺织品股份有限公司（以下简称"公司"）第五届董事会第八次 会议（以下简称"本次会议"）于2023年08月18日以邮件、微信、飞书等方式通知全 体董事，并于2023年08月28日以现场加视频会议的方式在公司五楼会议室召开。本 次会议应参加表决董事9名，实际参加表决董事9名，其 ...

关于会计政策变更的公告 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： 上海水星家用纺织品股份有限公司（以下简称"公司"）本次会计政策 变更是根据财政部相关文件要求进行的合理变更，不会对公司财务状况、经营成 果和现金流量产生重大影响，不存在损害公司及股东利益的情况。 公司根据财政部颁布的相关会计准则解释做出的法定变更，无需公司董 事会、监事会和股东大会审议。 一、本次会计政策变更概述 （一）会计政策变更的原因 证券代码：603365 证券简称：水星家纺 公告编号：2023-038 上海水星家用纺织品股份有限公司 （三）变更后采用的会计政策 本次会计政策变更后，公司根据财政部颁布的《准则解释第 16 号》相关规 定执行。除上述政策变更外，其他未变更部分仍按照财政部前期颁布的《企业会 计准则—基本准则》和相关具体准则、企业会计准则应用指南、企业会计准则解 释及其他相关规定执行。 （四）变更日期 根据《准则解释 16 号》的要求，公司决定自 2023 年 1 月 1 日起施行关于单 项交易产生的资产和负债相关的递延所 ...

证券代码：603365 证券简称：水星家纺 公告编号：2023-025 上海水星家用纺织品股份有限公司 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： 会议召开时间：2023 年 05 月 26 日（星期五）下午 15:00-16:00 二、 说明会召开的时间、地点 （一） 会议召开时间：2023 年 05 月 26 日（星期五）下午 15:00-16:00 1 （二）会议召开地点：上证路演中心（网址：http://roadshow.sseinfo.com/） （三） 会议召开方式：上证路演中心网络互动 三、 参加人员 会议召开地点： 上海证券 交易所上证路演中心（ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 05 月 19 日（星期五）至 05 月 25 日（星期四）16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 sxjf@s ...

Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 7 RMB per 10 shares to all shareholders, totaling approximately 183.94 million RMB (including tax) based on a total share capital of 266,670,000 shares as of December 31, 2022[7]. - The company has committed to maintaining the distribution ratio per share even if the total share capital changes before the dividend distribution date[7]. - The company has a cash dividend policy that aims to enhance transparency and maintain continuity, with a total cash dividend payout of 199,335,345 RMB for the year, accounting for 71.64% of the net profit[163]. - The board of directors has approved a dividend payout of 0.5 RMB per share, reflecting a commitment to returning value to shareholders[134]. Financial Performance - In 2022, the company achieved operating revenue of CNY 3.66 billion, a decrease of 3.57% compared to 2021[25]. - The net profit attributable to shareholders was CNY 278.26 million, down 27.89% year-on-year[25]. - The basic earnings per share decreased by 28.08% to CNY 1.05[26]. - The weighted average return on equity fell to 10.32%, a decrease of 5.19 percentage points from the previous year[26]. - The net cash flow from operating activities was CNY 103.91 million, a significant decrease of 77.60% compared to 2021[25]. - The company reported a gross margin of 35% for the fiscal year, indicating strong operational efficiency and cost management[132]. Governance and Compliance - The company has confirmed that all board members attended the board meeting, ensuring governance transparency[5]. - The company has not violated decision-making procedures for providing guarantees, maintaining compliance with regulations[9]. - The company has not faced any issues with more than half of the board members being unable to guarantee the authenticity of the annual report[9]. - The company has established a sound internal control system, with a standard unqualified opinion from the internal control audit report[171]. - The company has continuously improved its corporate governance structure, ensuring compliance with relevant laws and regulations[171]. Operational Risks and Market Environment - The company has detailed the main operational risks in the report, advising investors to pay attention to investment risks[9]. - The overall retail sales of textile and apparel products in China decreased by 6.5% in 2022, reflecting a challenging market environment[56]. - The company faces risks related to macroeconomic fluctuations, including a potential slowdown in consumer income growth and a decline in real estate market transactions, which could impact market demand for home textile products[120]. - There is a significant risk of production cost volatility due to uncertainties in raw material prices and rising labor costs, prompting the company to enhance brand influence and optimize supply chain management to control production costs[120]. Brand Strategy and Marketing - The company continues to focus on the "Good Bedding, Choose Mercury" brand strategy, enhancing its core category advantages and leading the bedding category with insights into consumer pain points, resulting in Mercury Home Textiles being ranked first in national bedding sales in 2021 and wedding bedding sales in 2022 according to Euromonitor International[36][38]. - The company has upgraded its brand image to "Mercury STARZHOME," reflecting improvements in terminal image, product design, technology research and development, and service experience[39]. - The company has successfully utilized new media platforms such as WeChat, Weibo, Douyin, and Xiaohongshu for brand promotion, including the "Bring Home the Heart 2022 Mercury Heart Year" campaign, which effectively engaged consumers[40][41]. - The company has strengthened its brand strategy, focusing on collaborations with well-known brands and designers to enhance brand value and appeal to younger consumers[50]. Research and Development - The company has developed 12 invention patents in 2022, including a method for co-cultivating golden silkworms, recognized as an innovative product in Shanghai[75]. - The company has a mature R&D system, focusing on market-driven product development and technological innovation[73]. - R&D expenses rose by 9.87% to CNY 71,647,238.45, reflecting increased investment in product development[83]. - The company has allocated 100 million RMB for research and development of new technologies in 2022[146]. Supply Chain and Efficiency - The company has upgraded its procurement system to a DRP supply chain collaboration platform, improving supply chain management and transparency[65]. - The company is focusing on enhancing its supply chain efficiency through digital planning and visualization models[52]. - The company has engaged IBM consultants to enhance supply chain management capabilities across multiple dimensions[78]. - A new strategic partnership has been established with a leading logistics provider to improve supply chain efficiency, expected to reduce delivery times by 15%[134]. Community and Environmental Responsibility - The company invested 50,000 RMB in poverty alleviation projects, directly benefiting 6,253 people in Yunnan Dali Zhangqian Village[184]. - The company has committed to using environmentally friendly materials, such as Tencel™, which is produced with minimal environmental impact and is biodegradable[179]. - The company has established a new committee to oversee sustainability initiatives, aiming for a 25% reduction in carbon footprint by 2025[146]. - The company reduced carbon emissions by 284 tons through various measures, including the installation of rooftop solar panels and the use of energy-efficient equipment[177]. Future Outlook and Growth Plans - The company has set a future outlook with a revenue target of 1.5 billion RMB for 2023, which reflects an ambitious growth rate of 25%[134]. - Market expansion plans include entering three new provinces in China, aiming to increase market share by 10% in these regions by the end of 2023[134]. - The company plans to enhance brand promotion through a combination of new media and traditional media, maintaining high-quality communication with consumers[110]. - The company will conduct nationwide consumer research to understand changes in consumer perception and publish the "2023 China Comforter White Paper"[113].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 817,973,584.73, representing a year-on-year increase of 1.45%[4] - The net profit attributable to shareholders was CNY 83,659,513.04, showing a decrease of 1.22% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 70,250,186.91, which is an increase of 5.54% year-on-year[4] - The basic and diluted earnings per share remained at CNY 0.32, unchanged from the previous year[4] - Operating profit decreased to RMB 87,264,889.16 in Q1 2023 from RMB 97,803,217.67 in Q1 2022, representing a decline of 10.7%[16] - Net profit for Q1 2023 was RMB 83,659,513.04, down 1.2% from RMB 84,694,043.89 in Q1 2022[16] - The company achieved a gross profit margin of approximately 39.7% in Q1 2023, compared to 38.5% in Q1 2022, showing improved cost management[15] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,448,746,709.89, a decrease of 2.46% from the end of the previous year[4] - The equity attributable to shareholders increased by 2.53% to CNY 2,837,240,209.88 compared to the end of the previous year[4] - The company's current assets totaled CNY 2,750,665,932.03, down from CNY 2,815,393,801.60, indicating a decrease of about 2.4%[12] - Total liabilities decreased to CNY 611,506,500.01 from CNY 768,383,478.96, a reduction of approximately 20.5%[13] - The company reported a decrease in accounts payable to CNY 233,161,921.95 from CNY 343,567,588.54, a decline of approximately 32.3%[13] Cash Flow - The cash flow from operating activities was CNY 76,774,256.43, with significant increases in sales receipts and reduced tax payments[7] - Cash flow from operating activities generated RMB 76,774,256.43 in Q1 2023, a significant improvement from a negative cash flow of RMB -72,007,926.98 in Q1 2022[17] - Cash and cash equivalents increased to CNY 1,270,111,421.68 from CNY 1,163,500,802.71, representing a growth of approximately 9.15%[11] - Cash and cash equivalents at the end of Q1 2023 increased to RMB 1,268,935,104.96, compared to RMB 938,313,798.99 at the end of Q1 2022[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,092[9] - The largest shareholder, Mercury Holdings Group Co., Ltd., holds 40.42% of the shares, totaling 107,800,000 shares[9] - The company's equity attributable to shareholders increased to CNY 2,837,240,209.88 from CNY 2,767,232,456.85, marking an increase of about 2.53%[14] Research and Development - Research and development expenses rose to RMB 14,964,330.60 in Q1 2023, up from RMB 13,044,692.06 in Q1 2022, indicating a focus on innovation[15] - The company invested $200 million in R&D for new technologies, focusing on AI and machine learning advancements[19] Market and Product Development - The company has not reported any new product launches or technological advancements in this quarter[11] - There are no significant market expansion or acquisition strategies mentioned in the report for this quarter[11] - The company plans to continue expanding its market presence and investing in new product development to drive future growth[16] - New product launches contributed to a 20% increase in sales in the last quarter, with particular success in the smart home segment[19] - Market expansion efforts in Europe resulted in a 25% increase in market share, now accounting for 30% of total sales[19] - The company completed an acquisition of a smaller tech firm for $500 million, expected to enhance its product offerings and innovation capabilities[19] - The company plans to enter the Asian market by Q1 2024, targeting a revenue contribution of $1 billion within the first year[19] User and Revenue Growth - User base grew to 150 million active users, up from 130 million in the previous quarter, indicating a 15% growth[19] - The company provided guidance for Q4 2023, expecting revenue to be between $5.5 billion and $5.7 billion, reflecting a potential growth of 6% to 10%[19] - The company reported a revenue of $5.2 billion for Q3 2023, representing a 15% year-over-year increase[19] Cost Management - Sales expenses increased to RMB 182,877,663.07 in Q1 2023, compared to RMB 178,550,866.07 in Q1 2022, reflecting higher marketing efforts[15] - The company reported a decrease in tax expenses to RMB 18,538,189.88 in Q1 2023 from RMB 13,395,526.00 in Q1 2022, indicating potential tax benefits or lower taxable income[16] - Operating margin improved to 30%, up from 28% in the previous quarter, indicating better cost management and efficiency[19]

Financial Performance - 2021 revenue reached 3.799 billion yuan, a year-on-year increase of 25.19% [1] - Net profit attributable to shareholders in 2021 was 386 million yuan, up 40.55% year-on-year [1] - Gross profit margin of main business in 2021 was 38.01%, an increase of 2.7 percentage points [1] - Q1 2022 revenue was 806 million yuan, with a growth rate of 12% year-on-year [2] - Q1 2022 net profit attributable to shareholders was 85 million yuan, up 7.36% year-on-year [2] Operational Strategies - Implemented decentralized production, logistics, and sales to ensure normal operations during the pandemic [2] - Utilized new retail tools like cloud stores and live streaming to mitigate sales losses [2] - Focused on "Good Quilts, Choose Mercury" brand strategy, optimizing product structure and SKU [2] - Planned to increase the proportion of quilt products, currently accounting for over 45% [4] Digital Transformation - Promoted digital technology infrastructure construction, including unified user account systems [3] - Advanced digital construction in retail and distribution channels, integrating online and offline operations [3] - Implemented supply chain digitalization, establishing visual models for inventory and production progress [3] - Built a big data analysis system, integrating data across marketing, supply chain, and finance [3] Channel Development - 2021 online channel revenue from Tmall, JD, and Vipshop accounted for 90% of total online sales [4] - Established self-broadcasting teams and dedicated live streaming bases for major platforms [4] - Started TikTok stores in the second half of 2020, focusing on brand self-broadcasting [4] Product Development - Enhanced product quality and optimized product structure to improve gross margin [2] - Focused on product innovation in appearance, comfort, and functionality to create competitive products [2] - Strengthened R&D and promotion of high-end products using materials like down, silk, and long-staple cotton [3] Market Positioning - Differentiated through core quilt products with technological and functional innovations [4] - Aimed to occupy consumer mindshare through improved sales services, product quality, and consumer experience [4]

Financial Performance - The company's operating revenue for Q3 2022 was ¥855,427,304.01, representing a year-on-year increase of 2.21%[4] - The net profit attributable to shareholders for Q3 2022 was ¥75,593,864.51, a decrease of 11.91% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥61,195,156.60, down 19.80% year-on-year[4] - The basic earnings per share for Q3 2022 was ¥0.29, reflecting a decline of 10.92% compared to the previous year[4] - Total operating revenue for the first three quarters of 2022 reached ¥2,497,738,934.87, an increase of 1.0% compared to ¥2,456,125,364.59 in the same period of 2021[21] - Operating profit for the first three quarters of 2022 decreased to ¥198,952,826.36, down 32.9% from ¥296,289,920.21 in 2021[21] - The net profit for Q3 2022 was ¥182,524,534.26, a decrease of 27% compared to ¥250,072,447.18 in Q3 2021[22] - The basic and diluted earnings per share for Q3 2022 were ¥0.69, down from ¥0.94 in Q3 2021[22] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥3,486,888,100.57, an increase of 0.36% from the end of the previous year[5] - The equity attributable to shareholders at the end of Q3 2022 was ¥2,686,893,431.92, up 1.89% from the end of the previous year[5] - Total assets as of September 30, 2022, amounted to ¥3,486,888,100.57, a slight increase from ¥3,474,352,717.78 at the end of 2021[17] - Total liabilities decreased to ¥799,994,668.65 as of September 30, 2022, down from ¥837,383,820.12 at the end of 2021[17] Cash Flow - The net cash flow from operating activities for the year-to-date was reported as -¥137,055,894.83, a decrease of 6.68%[4] - Cash flow from operating activities for the first nine months of 2022 was negative at -¥137,055,894.83, an improvement from -¥146,862,316.15 in the same period of 2021[26] - Total cash inflow from operating activities was ¥2,950,771,764.60, compared to ¥2,918,365,065.72 in the previous year[26] - Cash outflow from operating activities totaled ¥3,087,827,659.43, slightly higher than ¥3,065,227,381.87 in 2021[26] - The net cash flow from investing activities was -¥378,863,825.48, worsening from -¥119,561,530.88 in the same period last year[27] - The net cash flow from financing activities was -¥113,996,610.57, compared to -¥122,435,736.30 in the same period of 2021[27] - The ending cash and cash equivalents balance was ¥540,147,985.49, down from ¥624,748,902.02 at the end of Q3 2021[27] Inventory and Expenses - The company's cash and cash equivalents as of September 30, 2022, were ¥541,344,025.46, a decrease of 53.8% from ¥1,170,643,223.97 at the end of 2021[15] - Inventory as of September 30, 2022, increased to ¥1,150,443,981.74, up 23.6% from ¥930,712,741.57 at the end of 2021[15] - Research and development expenses for the first three quarters of 2022 were ¥51,928,728.69, an increase of 15.5% from ¥44,902,634.25 in the same period of 2021[21] - The company reported a decrease in other income to ¥15,008,957.55 in the first three quarters of 2022, compared to ¥5,896,038.83 in the previous year[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,344[10] - Non-recurring gains and losses for Q3 2022 totaled ¥14,398,707.91, compared to ¥40,197,913.31 for the same period last year[8]

Financial Performance - The company's operating revenue for the first half of 2022 was approximately RMB 1.64 billion, representing a 1.43% increase compared to RMB 1.62 billion in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2022 was approximately RMB 106.93 million, a decrease of 34.90% from RMB 164.26 million in the previous year[19]. - The basic earnings per share for the first half of 2022 was RMB 0.40, down 35.48% from RMB 0.62 in the same period last year[18]. - The weighted average return on equity decreased to 4.01%, down 2.77 percentage points from 6.78% in the previous year[18]. - The net cash flow from operating activities for the first half of 2022 was negative RMB 143.00 million, compared to negative RMB 35.26 million in the same period last year[19]. - The company reported a decrease of 47.09% in net profit after deducting non-recurring gains and losses, amounting to approximately RMB 81.13 million compared to RMB 153.34 million in the previous year[19]. - The company's net profit for the first half of 2022 decreased by 34.90% year-on-year due to increased operational management costs during the pandemic[50]. - The total comprehensive income for the first half of 2022 was CNY 92,983,731.13, indicating a positive trend in financial performance compared to previous periods[134]. Assets and Liabilities - The total assets at the end of the reporting period were approximately RMB 3.50 billion, a 0.62% increase from RMB 3.47 billion at the end of the previous year[19]. - The net assets attributable to shareholders at the end of the reporting period were approximately RMB 2.61 billion, a decrease of 0.97% from RMB 2.64 billion at the end of the previous year[19]. - The company's total assets as of June 30, 2022, were CNY 2,321,259,035.60, a decrease from CNY 2,363,811,471.12 at the beginning of the year[116]. - Total liabilities decreased to CNY 229,678,275.94 from CNY 232,614,442.59 at the beginning of the year, indicating a slight reduction in financial obligations[116]. - The company's total equity as of June 30, 2022, was CNY 2,091,580,759.66, down from CNY 2,131,197,028.53 at the beginning of the year[116]. Sales and Market Position - In the first half of 2022, the company's revenue from the home textile industry showed a slight increase of 0.08% year-on-year, despite significant challenges due to the pandemic[30]. - The company maintained a positive sales growth during the pandemic, ensuring revenue stability and reinforcing its leading position in the industry[35]. - The consumer market showed signs of recovery in June 2022, with retail sales improving as pandemic control measures were lifted, indicating a potential rebound for the home textile sector[30]. - The company adopted a multi-channel sales model, enhancing its operations in franchise, direct sales, and traditional e-commerce channels, while innovating retail strategies through live streaming and social media[28]. - The company has a comprehensive sales network covering all 31 provinces, autonomous regions, and municipalities in mainland China, with a focus on both online and offline channels[42]. Research and Development - The company holds a total of 133 patents, including 46 invention patents and 22 utility model patents, reflecting its strong emphasis on independent research and development[41]. - The company collaborates with renowned domestic and international textile research institutions to enhance its product design and innovation capabilities[25]. - The company has increased its R&D investment and marketing efforts for new product development, successfully launching a series of unique products that emphasize originality and cost-effectiveness, creating a barrier against competitors[72]. - Research and development expenses rose by 11.04% to approximately CNY 33.27 million, reflecting increased salaries for R&D personnel[63]. Marketing and Brand Strategy - The company focused on brand strategy "Good Quilt, Choose Mercury," enhancing brand influence through high-quality content marketing and collaborations with well-known IPs and designers[50]. - The company has increased its marketing investment in online platforms and short video promotions to enhance brand influence and recognition among younger consumers[39]. - The company emphasizes the importance of corporate culture and talent development, fostering a strong team spirit and resilience among its employees[45]. Operational Challenges - Sales revenue from offline channels reached 729 million, a year-on-year decline of 10.33% due to logistics disruptions and store closures[54]. - Online sales revenue increased to 913 million, representing a year-on-year growth of 13.28%, despite logistical challenges during the pandemic[56]. - The increase in operating costs was primarily due to a corresponding rise in sales, with costs amounting to approximately CNY 1.03 billion, up 3.63% from CNY 996.73 million[63]. - The company faces risks related to macroeconomic fluctuations, potential impacts from recurring COVID-19 outbreaks, and volatility in production costs[71]. Corporate Governance and Shareholder Information - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of its IPO, with a limit on annual transfers of 25% of shares held during the tenure of directors or senior management[91]. - The lock-up period for shares held by the actual controller and shareholders will automatically extend by 6 months if the stock price falls below the issue price for 20 consecutive trading days within 6 months post-IPO[92]. - The company reported a commitment not to seek improper benefits from its controlling shareholder status, ensuring the protection of other shareholders' rights[93]. - The total number of ordinary shareholders as of the end of the reporting period is 9,051[102]. - The largest shareholder, Mercury Holdings Group Co., Ltd., holds 107,800,000 shares, accounting for 40.42% of the total shares[103]. Social Responsibility and Sustainability - The company is committed to sustainable development, investing in raw material sourcing projects to enhance product uniqueness and ecological benefits[58]. - The company donated 2,470 pieces of home textile products to 10 rural primary schools as part of its social responsibility initiatives[88]. - The company donated 13,440 protective suits to support frontline volunteers during the COVID-19 outbreak in Shanghai[88]. - The company emphasizes the use of environmentally friendly materials, such as Tencel™, which is derived from natural wood and has minimal environmental impact during production[87]. Financial Reporting and Compliance - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance of China[140]. - The company confirms that there are no significant doubts regarding its ability to continue as a going concern for the next 12 months[141]. - The company has not reported any changes in accounting policies or prior period error corrections[130]. - The company has not engaged in any major related party transactions during the reporting period[98].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 806,283,685.01, representing a year-on-year increase of 12.32%[3] - The net profit attributable to shareholders for the same period was CNY 84,694,043.89, up by 7.36% compared to the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 6.15% to CNY 66,560,701.68[3] - The basic earnings per share for Q1 2022 was CNY 0.32, reflecting an increase of 6.45% year-on-year[3] - The operating profit for Q1 2022 was CNY 97,803,217.67, up from CNY 89,043,720.06 in the same period last year, reflecting a growth of 8.5%[15] - The total profit for Q1 2022 was CNY 98,089,569.89, compared to CNY 95,874,651.25 in Q1 2021, reflecting a growth of 2.3%[15] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,412,227,437.05, a decrease of 1.79% from the end of the previous year[3] - Total assets decreased to ¥3,412,227,437.05 from ¥3,474,352,717.78 as of December 31, 2021, reflecting a decline of 1.8%[13] - Total liabilities decreased to ¥690,564,495.49 from ¥837,383,820.12, a reduction of 17.5%[12] - The equity attributable to shareholders increased by 3.21% to CNY 2,721,662,941.56 compared to the end of the previous year[3] Cash Flow - The net cash flow from operating activities was negative at CNY -72,007,926.98, indicating a significant cash outflow[3] - Cash inflow from operating activities in Q1 2022 was CNY 968,144,687.74, slightly higher than CNY 949,167,714.30 in Q1 2021[17] - The net cash flow from operating activities was negative at CNY -72,007,926.98, an improvement from CNY -94,900,263.23 in the previous year[17] - The company reported cash outflow from investing activities of CNY 153,111,852.43 in Q1 2022, down from CNY 193,539,348.44 in Q1 2021, indicating a reduction of 20.9%[18] - The cash outflow from financing activities was CNY 6,432,182.84 in Q1 2022, with no cash inflow reported[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 7,652[8] - The largest shareholder, Mercury Holdings Group Co., Ltd., held 40.42% of the shares, totaling 107,800,000 shares[8] Operational Costs and Expenses - Total operating costs for Q1 2022 were ¥732,030,682.38, up 14.8% from ¥637,380,659.59 in Q1 2021[14] - Gross profit for Q1 2022 was ¥74,253,002.63, resulting in a gross margin of approximately 9.2%[14] - Research and development expenses increased to ¥13,044,692.06, representing a rise of 12.1% from ¥11,643,972.79 in Q1 2021[14] Future Outlook - Future outlook includes potential market expansion and new product development strategies, although specific figures were not provided in the report[14] Cash and Inventory - Cash and cash equivalents as of March 31, 2022, were ¥938,511,251.54, down 20% from ¥1,170,643,223.97 as of December 31, 2021[11] - Total cash and cash equivalents at the end of Q1 2022 were CNY 938,313,798.99, compared to CNY 725,223,135.97 at the end of Q1 2021, showing a year-on-year increase of 29.4%[18] - Inventory as of March 31, 2022, was ¥946,096,721.48, slightly up from ¥930,712,741.57 as of December 31, 2021[11] Foreign Exchange - The company experienced a foreign exchange loss of CNY -4,264.80 in Q1 2022, compared to a loss of CNY -78,556.03 in Q1 2021, indicating a decrease in losses[18]

Financial Performance - The company's operating revenue for 2021 was CNY 3,799,310,683.43, representing a 25.19% increase compared to CNY 3,034,780,744.09 in 2020[25]. - The net profit attributable to shareholders for 2021 was CNY 385,874,924.85, a 40.55% increase from CNY 274,539,756.19 in 2020[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 362,080,588.74, reflecting a 56.60% increase from CNY 231,207,585.30 in 2020[25]. - The net cash flow from operating activities for 2021 was CNY 463,842,722.08, up 22.66% from CNY 378,153,416.80 in 2020[25]. - The total assets at the end of 2021 were CNY 3,474,352,717.78, a 15.61% increase from CNY 3,005,174,649.63 at the end of 2020[25]. - The net assets attributable to shareholders at the end of 2021 were CNY 2,636,968,897.66, an 11.87% increase from CNY 2,357,173,972.81 at the end of 2020[25]. - Basic earnings per share were 1.46 RMB, up 40.38% from 1.04 RMB in 2020[26]. - The weighted average return on equity increased by 3.63 percentage points to 15.51%[26]. Dividend and Capital Management - The company plans to distribute a cash dividend of CNY 5 per 10 shares to shareholders, totaling CNY 132,600,000 (including tax) based on the total share capital as of December 31, 2021[7]. - The company does not plan to increase capital reserves to share capital for the 2021 fiscal year[7]. - The cash dividend for the 2020 fiscal year was 106,080,000 RMB (including tax), accounting for 38.64% of the net profit attributable to shareholders[139]. - The board of directors has approved a dividend payout of 0.5 RMB per share, reflecting a commitment to returning value to shareholders[119]. Market and Product Strategy - The company focused on the "Good Comforter, Choose Mercury" brand strategy, enhancing brand recognition and product quality[37]. - The company launched the "Ice Cream Comforter" in collaboration with a well-known ice cream brand, targeting younger consumers[39]. - A series of home textile products featuring national cultural elements were introduced in partnership with the Dunhuang Museum, aligning with the rising trend of national pride[40]. - The company has established a brand matrix centered around the "Shuixing" brand, effectively expanding into niche markets while enhancing brand recognition[56]. - The company focuses on mid-to-high-end home textile products, including bedding sets, comforters, and pillows, with a strong emphasis on consumer needs[55]. Innovation and R&D - The company has developed 135 patents, including 41 invention patents, reflecting its commitment to innovation in functional textile fibers and materials[68]. - Research and development expenses increased by 1.99% to CNY 65,212,274.31, indicating a focus on innovation[76]. - The company is committed to increasing its R&D investment to develop health-oriented, comfortable, and eco-friendly home textile products[100]. - The company has focused on product innovation by enhancing the supply chain for high-quality raw materials and developing new products that meet consumer demands[63]. E-commerce and Sales Performance - In 2021, the company's sales revenue on Tmall, JD, and Vipshop accounted for approximately 90% of total online channel revenue, with Tmall ranking first in home textile brand sales during the 618 event[44]. - The company achieved over 60,000 units sold and over 100 million RMB in sales for its 3D goose down quilt in Q4 2021, demonstrating significant success in product sales[43]. - The company established a highly specialized e-commerce team, contributing to significant growth in online sales and leading industry performance[70]. - The company has implemented a multi-channel sales strategy, leveraging online platforms and traditional retail to enhance consumer engagement and brand visibility[61]. Risk Management and Compliance - The company has outlined potential risks in its future development, which investors should be aware of[9]. - The company emphasizes the importance of accurate financial reporting and has received a standard unqualified audit report from its accounting firm[6]. - The company acknowledges risks from the ongoing COVID-19 pandemic, which may impact future production and operations[105]. - The company faces potential market demand fluctuations due to macroeconomic factors, including a slowdown in income growth and increased competition[106]. Corporate Governance - The company has held 2 shareholder meetings in 2021, passing 8 resolutions, ensuring equal rights for all shareholders[109]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements[109]. - The company’s board of directors includes experienced professionals with extensive backgrounds in various sectors, enhancing governance and strategic direction[116]. - The company has established specialized committees under the board, including the audit committee and the remuneration and assessment committee[126]. Social Responsibility and Sustainability - The company is committed to environmental protection, implementing various management systems to reduce energy consumption and promote sustainable practices[151]. - The company actively participates in social responsibility initiatives, including donations of 12,000 quilts for disaster relief during the 2021 Zhengzhou floods[158]. - The company has developed Tencel™ products, which are environmentally friendly and have a low carbon footprint, applied across various product lines[154]. - The management emphasized the importance of sustainability initiatives, aiming for a 30% reduction in carbon emissions by 2025[160]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[121]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on eco-friendly textiles[119]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share within the next three years[160]. - The company is considering strategic acquisitions to enhance its supply chain, with a budget of 300 million RMB allocated for potential targets[119].