Financial Performance - The company's operating revenue for 2022 was ¥2,108,124,656.07, representing a 48.56% increase compared to ¥1,419,055,803.58 in 2021[21] - The net profit attributable to shareholders was -¥9,413,692.05, a decrease of 102.61% from ¥360,633,684.63 in the previous year[21] - The net profit after deducting non-recurring gains and losses was ¥69,368,342.72, down 22.82% from ¥89,881,232.32 in 2021[21] - The net cash flow from operating activities was ¥62,779,338.70, a significant recovery from -¥410,930,028.22 in 2021[21] - Total assets increased by 7.18% to ¥3,033,181,338.75 from ¥2,830,074,292.97 at the end of 2021[21] - The net assets attributable to shareholders decreased by 6.73% to ¥1,702,541,677.55 from ¥1,825,391,906.15 at the end of 2021[21] - Basic earnings per share were -¥0.01, a decrease of 103.03% from ¥0.33 in the previous year[22] - The weighted average return on net assets was -0.53%, a decrease of 39.29 percentage points from 39.82% in 2021[22] Business Operations - The company reported significant growth in its grain trading business, contributing to the increase in revenue and net profit[22] - The grain trading business generated revenue of CNY 1.07 billion, a significant increase of 333.83% year-on-year[48] - The company’s grain trade business primarily involves corn, glutinous rice, soybeans, and rice, with a dynamic procurement strategy based on market conditions[40] - The company is focusing on expanding its grain trading business, aligning with national strategies for food security and rural revitalization[31] - The company has ordered 2 sterile rice production lines, expected to be installed and initially operational by Q3 and Q4 2023, to enhance its prepared rice business and stabilize grain trade operations[32] - The acquisition of fixed assets, land use rights, and intellectual property from Meitai Fu has been completed, expanding the company's grain business from trading to a comprehensive supply chain including production, storage, and deep processing[32] Governance and Compliance - The company increased its board members from 7 to 9 to strengthen governance and compliance with regulatory requirements[31] - The board of directors consists of 9 members, including 3 independent directors, and operates under strict compliance with relevant laws and regulations[109] - The supervisory board has 3 members, including 1 employee representative, ensuring oversight of the board's operations and financial practices[110] - The company has established a robust governance structure to ensure compliance with legal regulations and protect shareholder interests[108] - The company has committed to addressing competition issues with its controlling shareholder, ensuring compliance with related promises made in December 2022[32] Risk Management - The company faces systemic risks from domestic demand contraction and external economic uncertainties, including geopolitical conflicts and inflation[100] - The company recognizes the risk of declining gross margins in its grain business due to price fluctuations and plans to enhance procurement strategies[105] - The company is focused on expanding its grain business while managing the risks associated with its vertical business segments[101] Social Responsibility - The company is actively involved in social responsibility initiatives, including community support and promoting health and wellness through various campaigns[34] - The company has committed to reducing carbon emissions but did not specify the amount of CO2 equivalent reduced[154] - The company has established mechanisms to promote green living among employees, advocating for waste sorting and energy conservation[152] - Total donations and public welfare projects amounted to 10.59 million yuan, with 7.01 million yuan in cash and 3.58 million yuan in material donations[155] Employee Management - The company has established a performance bonus policy to motivate employees based on their contributions[142] - The company has implemented an annual training system to enhance employee skills and compliance awareness[143] - The total number of employees reported is 1,375, with 989 in sales and 242 in technical roles[140] Shareholder Relations - The company has established a dedicated investor relations team to manage communications and maintain good relationships with stakeholders[110] - The company adheres to strict information disclosure regulations, ensuring timely and accurate reporting to investors[110] - The company is committed to enhancing transparency and compliance with securities laws and regulations[110] Strategic Planning - The company plans to enhance its brand product development and strengthen supply chain management to improve production efficiency and product quality[31] - The company aims to optimize its organizational structure and internal management processes to improve operational efficiency and reduce unnecessary costs[33] - The company plans to increase the production capacity of acquired rice processing assets and improve the quality of "Golden Crane" brand rice to enhance its market presence[98] Financial Commitments - If the audited net profit of the company from 2021 to 2023 is below RMB 500 million, the parent company will compensate the difference in cash within three months after the 2023 annual report disclosure[165] - The company has committed to not reducing its shareholding in the newly acquired shares for 36 months from the date of registration[167] Legal Matters - The company is involved in a significant lawsuit regarding overdue guarantees with Huishang Bank, with the court issuing a ruling on August 11, 2022[173] - The company’s independent director faced regulatory measures due to a short-term trading incident involving her spouse, leading to a warning from the Fujian Securities Regulatory Bureau[175]

Financial Performance - The company's revenue for Q3 2022 was ¥336,068,249.14, representing a decrease of 2.48% compared to the same period last year[5] - The net profit attributable to shareholders was ¥2,574,763.19, down 83.51% year-on-year, while the net profit after deducting non-recurring gains and losses was a loss of ¥5,455,930.86, a decrease of 215.86%[5] - The basic earnings per share for the quarter was ¥0.0016, a decline of 83.51% compared to the previous year[6] - The company reported a net loss of CNY 1,365,275,475.89 for the first three quarters of 2022, slightly increasing from a loss of CNY 1,350,475,258.88 in the same period of 2021[28] - The total comprehensive income for Q3 2022 was -17,455,654.19 CNY, compared to 401,169,984.64 CNY in Q3 2021, indicating a drastic decline in overall financial health[31] - Operating profit for Q3 2022 was -1,286,178.78 CNY, while in Q3 2021, it was 410,746,123.36 CNY, reflecting a substantial decrease in operational performance[30] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,962,128,513.63, an increase of 4.67% from the end of the previous year[6] - The total current assets as of September 30, 2022, amount to CNY 1,645,094,197.90, an increase from CNY 1,186,917,346.60 at the end of 2021[26] - The total liabilities as of September 30, 2022, are CNY 1,155,729,363.68, compared to CNY 993,074,330.14 at the end of 2021[27] - The company's total assets as of September 30, 2022, are CNY 2,962,128,513.63, an increase from CNY 2,830,074,292.97 at the end of 2021[28] Cash Flow - The cash flow from operating activities for the year-to-date was ¥27,257,808.91[6] - Cash flow from operating activities for the first nine months of 2022 was 27,257,808.91 CNY, a recovery from a negative cash flow of -432,284,787.91 CNY in the same period of 2021[32] - Investment activities generated a net cash flow of 261,081,083.30 CNY in Q3 2022, a significant increase from 45,862,761.50 CNY in Q3 2021[34] - The company reported a net cash flow from financing activities of -140.36%, primarily due to the repayment of principal and interest on debts[11] Sales and Revenue Breakdown - The total revenue for the first three quarters of 2022 is CNY 987,215,635.74, representing an increase of 12.9% compared to CNY 874,507,657.24 in the same period of 2021[29] - The company's revenue from the Guirenniao brand is approximately RMB 397.25 million, a decrease of 20.76% year-over-year, with a gross margin of 26.31%[19] - Online sales revenue for the first nine months of 2022 is RMB 276.07 million, accounting for 28.97% of total revenue, with a gross margin of 23.37%[21] - Offline sales revenue for the same period is RMB 676.89 million, representing 71.03% of total revenue, with a gross margin of 18.09%[21] - The company experienced a significant decline in revenue for brands like Adidas and Nike, while Puma saw a revenue increase[19] Inventory and Operating Costs - The company reported a significant increase in inventory by 204.88% due to increased grain trade procurement[10] - The inventory as of September 30, 2022, is CNY 554,578,360.29, significantly higher than CNY 181,900,284.65 at the end of 2021[26] - The total operating costs for the first three quarters of 2022 are CNY 1,021,545,668.01, up from CNY 889,627,599.21 in the previous year[29] Shareholder Information - The total number of common shareholders at the end of the reporting period is 23,723[13] - The largest shareholder, Heilongjiang Taifu Jingu Network Technology Co., Ltd., holds 320 million shares, accounting for 20.36% of total shares, with 69 million shares pledged[13] Corporate Changes and Legal Matters - The company’s actual controller changed to Heilongjiang Taifu Jingu Network Technology Co., Ltd. and Mr. Li Zhihua following the judicial auction of shares held by the previous controlling shareholder[15] - The company is currently involved in litigation regarding equity transfer disputes and has received various court orders related to these matters[16] Retail Network - As of September 30, 2022, the retail network of Guirenniao covers 29 provinces, with a total of 1,625 retail terminals and a retail area of 137,936 square meters[23] - The company opened 243 new stores in the first three quarters of 2022, increasing the total from 1,532 at the end of 2021 to 1,625[25]

Financial Performance - The company's operating revenue for the first half of 2022 was RMB 651,147,386.60, representing a 22.88% increase compared to RMB 529,907,856.80 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of RMB 17,374,980.20, a decrease of 104.53% from a profit of RMB 383,839,660.35 in the previous year[18]. - The net cash flow from operating activities was RMB 98,939,249.74, a significant improvement from a negative cash flow of RMB -313,482,124.60 in the same period last year[18]. - Total assets increased by 13.59% to RMB 3,214,668,657.11 from RMB 2,830,074,292.97 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 1.21% to RMB 1,803,377,339.82 from RMB 1,825,391,906.15 at the end of the previous year[18]. - Basic earnings per share for the first half of 2022 were -0.01 yuan, a decrease of 101.64% from 0.6106 yuan in the same period last year[19]. - The weighted average return on net assets was -0.24%, a significant drop from 189.95% in the previous year[19]. - The company reported a net profit after deducting non-recurring gains and losses of RMB -20,369,521.80, compared to RMB 8,671,259.15 in the same period last year, reflecting a decrease of 334.91%[18]. - The company reported a net profit for the period was -17.01 million yuan, with a loss attributable to shareholders of -17.37 million yuan, indicating a decline compared to the previous year[30]. - The company’s net profit for the first half of 2022 was CNY 19,646,576.45, a decrease of 94.39% compared to CNY 349,918,650.26 in the same period of 2021[133]. Revenue Breakdown - The sports footwear and apparel segment generated revenue of 287.89 million yuan, a decrease of 29.19% year-on-year, while the gross margin increased by 1.25 percentage points[30]. - The grain trading business reported revenue of 238.41 million yuan, contributing significantly to the company's overall performance[36]. - The total revenue for the apparel segment was CNY 121,129,191.79, a decrease of 21.27% compared to the previous year[38]. - The footwear segment generated revenue of CNY 160,547,846.53, down 34.22% year-over-year[38]. - The accessories segment reported revenue of CNY 6,212,813.74, reflecting a decline of 28.35% compared to last year[38]. - The revenue from the grain trading segment was CNY 238,410,777.20, with a gross margin of 7.29%[44]. - The East China region accounted for CNY 207,248,019.84 in revenue, down 26.61% year-over-year[42]. - The South China region saw a significant increase in revenue of 240.83%, totaling CNY 94,339,014.90[42]. - The total revenue for the first half of 2022 was ¥651,147,386.60, a significant increase from ¥510,424,012.59 in the first half of 2021, with an overall gross margin of 22.65% compared to 25.85%[46]. Cash Flow and Liquidity - The operating cash flow net amount was 98.94 million yuan, a significant improvement from -313.48 million yuan in the previous year[34]. - The company reported cash and cash equivalents at the end of the period amounting to CNY 248,880,805.74, down from CNY 445,520,364.11 at the end of the first half of 2021[136]. - The company’s cash flow from financing activities showed a net outflow of CNY -184,376,269.37, a significant decrease from a net inflow of CNY 703,475,940.10 in the first half of 2021, reflecting changes in financing strategy[136]. - The total cash inflow from operating activities was CNY 835,425,972.03, compared to CNY 548,919,067.57 in the same period last year, reflecting a 52.2% increase[135]. - Cash outflow from operating activities decreased to CNY 736,486,722.29 from CNY 862,401,192.17, showing improved cost management[135]. Market and Business Strategy - The company’s main business segments include sports footwear and apparel, agency and operation services, and grain trading[23]. - The grain trading business primarily deals with soybeans, corn, and sorghum, with major purchasing seasons in September and October[25]. - The company has established a marketing network that covers first to fourth-tier cities, with 152 retail terminals in first-tier cities and 455 in fourth-tier cities[28]. - The domestic sports footwear market is experiencing a significant Matthew effect, with increased competition for small and medium-sized brands[26]. - The company’s e-commerce platform, including its own site and major platforms like Tmall and JD, is focused on rapid sales through competitive pricing[25]. - The company’s research and design teams plan products approximately one year in advance, using market feedback for future product development[23]. - The national sports industry is projected to reach a total scale of 5 trillion yuan by 2025, driven by government initiatives[26]. - The company is exploring potential mergers and acquisitions to enhance its market position and operational capabilities[153]. - The company plans to continue expanding its market presence and product offerings in the footwear and apparel sectors[161]. Risks and Challenges - The company faces risks from intense competition in the sports footwear market, necessitating a focus on brand strength and channel optimization[57]. - The company is implementing a commodity futures hedging strategy to mitigate risks from agricultural product price fluctuations[58]. - The company reported a 33.52% increase in operating costs, primarily due to the growth in grain trading revenue and the low gross margin of this business[33]. Corporate Governance and Compliance - The company has not disclosed any plans for profit distribution or capital reserve conversion during this reporting period[5]. - There are no significant non-operating fund occupation situations by controlling shareholders or related parties[6]. - The company is committed to enhancing compliance with securities laws and regulations following the warning received[88]. - The company has not reported any significant changes in its major litigation or arbitration matters during the reporting period[90]. - The company has not disclosed any new major related party transactions during the reporting period[90]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 25,241[99]. - The largest shareholder, Guireniao Group (Hong Kong) Co., Ltd., holds 411,420,000 shares, accounting for 26.18% of total shares[101]. - The new controlling shareholder is Heilongjiang Taifu Jingu Network Technology Co., Ltd., with Li Zhihua as the new actual controller since July 25, 2022[104]. Financial Position and Ratios - The current ratio decreased by 46.88% to 1.39 compared to the end of the previous year[117]. - The quick ratio decreased by 59.33% to 0.90 compared to the end of the previous year[117]. - The debt-to-asset ratio increased by 25.09% to 44% compared to the end of the previous year[117]. - Total liabilities rose to ¥1,407,393,441.30, compared to ¥993,074,330.14, indicating an increase of about 41.7%[122]. - Owner's equity totaled ¥1,807,275,215.82, down from ¥1,836,999,962.83, showing a decrease of approximately 1.3%[122]. Asset Management - Inventory increased to ¥549,925,262.45, representing 17.11% of total assets, up from ¥181,900,284.65, which was 6.43% of total assets in the previous year[47]. - The company disposed of idle assets, improving asset quality and reducing interest-bearing liabilities and financial costs[31]. - The company has completed the debt repayment for "16 Guirenniao PPN001" bondholders as per the restructuring plan[115]. Environmental and Social Responsibility - The company implemented clean production practices and strictly adhered to environmental management standards and waste management protocols[69]. - Measures taken to reduce carbon emissions included promoting a green work environment, encouraging resource conservation, and advocating for paperless operations[70]. - The company actively participated in social responsibility initiatives during the pandemic, receiving positive recognition from the community[31].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 369,117,524.72, representing a 74.79% increase compared to the same period last year[5] - The net profit attributable to shareholders for Q1 2022 was CNY 2,546,171.52, showing a growth of 104.30% year-over-year[5] - The net cash flow from operating activities was negative at CNY -150,820,146.17, indicating a significant cash outflow[5] - The total operating revenue for Q1 2022 was ¥369,117,524.72, a significant increase from ¥211,177,810.66 in Q1 2021, representing a growth of approximately 74.7%[27] - The total operating costs for Q1 2022 were ¥370,115,637.71, compared to ¥213,355,295.46 in Q1 2021, indicating an increase of about 73.5%[27] - The net profit for Q1 2022 was ¥2,105,258.75, a recovery from a net loss of ¥58,771,802.59 in Q1 2021[28] - The operating profit for Q1 2022 was ¥10,949,519.50, contrasting with an operating loss of ¥56,518,946.14 in the same period last year[27] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,771,320,736.00, a slight decrease of 0.02% from the previous year-end[6] - The total assets as of Q1 2022 amounted to ¥2,771,320,736.00, slightly down from ¥2,830,074,292.97 at the end of the previous year[23] - The total liabilities for Q1 2022 were ¥934,530,333.45, a decrease from ¥993,074,330.14 in Q1 2021[23] - The total non-current assets were ¥1,659,051,693.26, up from ¥1,643,156,946.37 in the previous year[23] - The total assets as of March 31, 2022, were RMB 1,112,269,042.74, compared to RMB 1,186,917,346.60 at the end of 2021[21] Cash Flow - The company's cash flow from operating activities showed improvement, with a net cash inflow of ¥1,940,481.33 compared to a net cash outflow of ¥58,622,262.52 in Q1 2021[28] - In Q1 2022, the cash inflow from operating activities was approximately CNY 412.47 million, compared to CNY 297.99 million in Q1 2021, representing a year-over-year increase of 38.3%[32] - The net cash flow from operating activities was negative CNY 150.82 million in Q1 2022, worsening from negative CNY 11.77 million in Q1 2021[32] - Cash outflow for purchasing goods and services in Q1 2022 was CNY 411.90 million, significantly higher than CNY 149.90 million in Q1 2021[32] - The net cash flow from investing activities was negative CNY 11.36 million in Q1 2022, a decline from a positive CNY 16.49 million in Q1 2021[33] - Cash inflow from financing activities totaled CNY 98 million in Q1 2022, with a net cash flow of CNY 76.11 million after outflows[33] - The ending cash and cash equivalents balance for Q1 2022 was CNY 250.26 million, down from CNY 19.99 million in Q1 2021[33] - The company reported a significant increase in cash received from operating activities, totaling CNY 402.24 million in Q1 2022, compared to CNY 252.94 million in Q1 2021[32] - Total cash outflow for operating activities in Q1 2022 was CNY 563.29 million, compared to CNY 309.76 million in Q1 2021, indicating increased operational costs[32] - The company experienced a cash inflow from investment activities of CNY 50.50 million in Q1 2022, down from CNY 77.09 million in Q1 2021[32] - The company’s cash flow from financing activities included CNY 98 million received from other financing activities in Q1 2022[33] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 20,293[12] - The largest shareholder, Guiren Bird Group (Hong Kong) Limited, held 411,420,000 shares, accounting for 26.18% of total shares[12] Retail Expansion - As of March 31, 2022, the total number of retail terminals for the Guirenniao brand reached 1,571, with a total retail area of 131,012.92 square meters[14] - The company opened 77 new franchise stores in Q1 2022 while closing 38 stores, resulting in a net increase of 39 stores compared to the end of 2021[14] - The company has expanded its marketing network to cover 29 provinces, autonomous regions, and municipalities across China[14] Legal and Other Matters - The company provided a guarantee for a related party's loan of up to RMB 100 million, which is set to expire one year from the signing of the guarantee agreement[16] - The company faced a lawsuit due to a related party's failure to repay a loan, with the principal amount owed being RMB 88 million as of November 4, 2021[17] - The company terminated a major asset sale due to conflicts with the timeline for preparing its 2021 annual report[18]

Financial Performance - The company's operating revenue for 2021 was approximately RMB 1.42 billion, an increase of 19.43% compared to RMB 1.19 billion in 2020[19]. - The net profit attributable to shareholders for 2021 was approximately RMB 360.63 million, a significant turnaround from a loss of RMB 382.21 million in 2020[19]. - The net profit after deducting non-recurring gains and losses was approximately RMB 89.88 million, compared to a loss of RMB 410.15 million in the previous year[19]. - Basic earnings per share for 2021 were RMB 0.33, a recovery from a loss of RMB 0.61 per share in 2020[20]. - The weighted average return on equity increased to 39.29% from -181.22% in the previous year, reflecting a significant improvement in profitability[21]. - The company achieved a main business revenue of 1,419.06 million RMB, representing a year-on-year growth of 19.43%[51]. - The company reported a net profit of 10.67 million yuan for the reporting period[35]. - The company reported a net profit of -380,166,771.69 CNY for 2020, leading to no profit distribution or capital reserve increase for that year[153]. Assets and Liabilities - The company's total assets decreased by 20.80% to approximately RMB 2.83 billion at the end of 2021, down from RMB 3.57 billion at the end of 2020[19]. - The net assets attributable to shareholders increased by 17,632.23% to approximately RMB 1.83 billion, primarily due to capital reserve conversion and improved performance[19]. - The company's total liabilities decreased by 95.46% to 59,101,815.57, mainly due to judicial restructuring repayments[79]. - The company’s long-term borrowings stood at 528,976,707.87, primarily due to judicial restructuring[79]. - The company reported a cash balance of 336,338,319.31, representing a 11.88% increase compared to the previous year[78]. - Accounts receivable decreased by 60.07% to 463,238,043.03 due to judicial restructuring and recovery of sales payments[78]. Cash Flow - The net cash flow from operating activities was negative at approximately RMB -410.93 million, worsening from RMB -11.13 million in 2020, mainly due to payments to suppliers and tax obligations[21]. - The company achieved a net cash flow from operating activities of ¥21.35 million in Q4, recovering from negative cash flows in the earlier quarters[24]. - The net cash flow from financing activities increased significantly to CNY 625.29 million, up from CNY 23.84 million[74]. Business Strategy and Operations - The company shifted its production model from self-manufacturing to outsourcing, aiming to enhance product quality and operational efficiency[32]. - The company plans to optimize its internal management structure by closing 14 subsidiaries to reduce management costs and improve efficiency[32]. - The company is focusing on product, brand, and channel development post-judicial reorganization, with a strategy centered on the "Guiniao" brand[35]. - The company is addressing potential risks from rising raw material prices by optimizing supply chain management and supporting suppliers[115]. - The company is focusing on optimizing asset allocation and improving asset utilization to enhance overall management efficiency and reduce operational costs[113]. Market and Sales - The sportswear market in China is projected to grow to 598.96 billion yuan by 2025[36]. - The company reported a 12.5% year-on-year increase in retail sales of consumer goods in 2021, with clothing and textile retail sales growing by 12.7%[36]. - The company’s sales model relies on regional distributors who bear inventory risks and are responsible for market development[41]. - The company transitioned its sales model from a mix of direct stores and distributors to a distributor-only model, closing all direct stores during the reporting period[53]. - Online sales contributed RMB 434,936,625.17, accounting for 31.59% of total revenue, with a gross margin of 35.48%[91]. - Offline sales amounted to RMB 941,710,065.85, representing 68.41% of total revenue, with a gross margin of 21.74%[91]. Governance and Compliance - The company has implemented a comprehensive governance structure to ensure compliance with legal regulations and protect shareholder interests[119]. - The company maintains independence from its controlling shareholder, ensuring that major decisions are made by the shareholders' meeting[120]. - The company has not reported any significant differences in governance compared to regulations set by the China Securities Regulatory Commission[122]. - The company has established specialized committees within the board, including the Audit Committee and the Strategic Committee, with specific members assigned[144]. - The company has committed to ensuring that its controlling shareholders and management will not engage in related party transactions unless absolutely necessary, and such transactions will adhere to normal commercial terms[174]. Restructuring and Legal Matters - The company successfully raised a total of RMB 703,982,641.66 from restructuring investors as part of its restructuring efforts[185]. - The second creditors' meeting approved the restructuring plan, which was subsequently ratified by the court, allowing the company to terminate its restructuring process[186]. - The company has ongoing litigation related to equity transfer disputes and debt obligations, with significant cases being monitored closely[190]. - The company conducted an asset auction during its judicial reorganization, with Tai Fu Jin Gu becoming the final buyer of receivables, constituting a related party transaction due to Tai Fu Jin Gu holding 20.36% of the company's shares[195]. Employee and Management - The total number of employees in the parent company and major subsidiaries was 1,187, with 368 in the parent company and 819 in subsidiaries[148]. - The company has a total of 849 sales personnel and 215 technical personnel among its employees, indicating a strong focus on sales and technical capabilities[149]. - The company has implemented a salary policy that includes performance-based adjustments and incentives to attract and retain talent[150]. - The company has developed a comprehensive training program aimed at enhancing employee skills and aligning with corporate development strategies[151]. Environmental and Social Responsibility - The company has committed to reducing carbon emissions and has disclosed relevant measures in its annual social responsibility report[163]. - There were no significant environmental violations or penalties reported during the period, demonstrating compliance with environmental regulations[162].

Financial Performance - The company's revenue for Q3 2021 was CNY 344,599,800.44, representing a year-over-year increase of 17.20%[4] - Net profit attributable to shareholders was CNY 15,612,296.95, with a year-to-date net profit of CNY 399,451,957.30, reflecting a 3.25% increase compared to the same period last year[4] - Basic earnings per share for the quarter was CNY 0.01, while the year-to-date figure was CNY 0.42[5] - The weighted average return on equity increased to 0.76%, up 37.09 percentage points from the previous year[5] - Total revenue for the first three quarters of 2021 was approximately ¥789 million, a decrease of 5.6% from ¥836 million in the same period last year, with an overall gross margin of 26.99%[21] - Operating profit for the first three quarters of 2021 was ¥410,746,123.36, compared to a loss of ¥249,375,451.46 in the same period of 2020, indicating a significant turnaround[28] - Net profit for the first three quarters of 2021 was ¥401,444,462.09, recovering from a net loss of ¥256,996,929.76 in the previous year[28] - The total comprehensive income for the first three quarters of 2021 was ¥401,169,984.64, a recovery from a loss of ¥266,980,899.05 in the same period of 2020[29] Assets and Liabilities - Total assets at the end of the quarter were CNY 3,064,072,792.88, a decrease of 14.25% compared to the end of the previous year[5] - Total current assets as of September 30, 2021, were approximately ¥1.228 billion, down from ¥1.657 billion at the end of 2020[24] - The company's total assets amounted to approximately ¥3.064 billion, a decrease from ¥3.573 billion at the end of 2020[26] - The total liabilities of the company were approximately ¥990 million, significantly reduced from ¥3.547 billion in the previous year[25] - The company's equity attributable to shareholders was approximately ¥2.062 billion, a substantial increase from ¥10 million in the previous year[26] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -432,284,787.91 year-to-date[4] - Cash flow from operating activities showed a net outflow of ¥432,284,787.91, worsening from a net outflow of ¥40,087,220.61 in the same period of 2020[31] - Cash inflow from investment activities was ¥213,202,572.38, up from ¥77,947,243.68 in the previous year, reflecting a growth of approximately 173.5%[31] - Total cash inflow from financing activities was $703,475,940.10, compared to $120,298,017.00 in the previous period[33] - Net cash flow from financing activities amounted to $658,475,940.10, significantly higher than $13,346,342.89 in the previous period[33] - The net increase in cash and cash equivalents was $271,903,118.57, compared to a decrease of $3,319,525.97 in the previous period[33] - The ending balance of cash and cash equivalents was $286,803,633.16, up from $20,211,441.66 in the previous period[33] Operational Changes - The company has shifted its sales model from a mix of direct stores and distributors to a distributor-only model, leading to a significant reduction in franchise income[20] - The company plans to optimize its operational model by outsourcing production, which will involve a significant reduction in related personnel and assets[14] - The company reported a significant increase in gross margin for franchise stores, which improved by 27.3 percentage points to 12.11%[21] - The company is facing increased competitive pressure, with all brands experiencing a decline in gross margins during the reporting period[19] - The company has initiated the process of deregistering its subsidiaries, which is expected to further reduce franchise operations in the future[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 26,524, with the largest shareholder, Guirenniao Group (Hong Kong), holding 416,115,000 shares, accounting for 26.48% of the total shares[12] - The top ten shareholders include several significant entities, with the second-largest shareholder, Heilongjiang Taifu Jingu Network Technology Co., Ltd., holding 320,000,000 shares, or 20.36%[12] Market Performance - The company reported a significant decline in revenue for its main brand, Guirenniao, with a revenue of RMB 501.33 million, down 16.85% year-on-year, and a gross margin decrease of 14.56 percentage points[18] - Adidas and Nike also experienced substantial revenue declines of 50.34% and 37.97%, respectively, indicating a challenging market environment[19] - Online sales revenue for the company reached approximately ¥287 million, representing a 13.3% increase from ¥253 million in the same period last year, with a gross margin of 36.36%[21] - Offline sales revenue was approximately ¥502 million, down 13.8% from ¥583 million last year, with a gross margin of 25.67%[21] - Michenglai achieved agricultural product trading revenue of RMB 11.74 million by the end of September 2021, with a gross margin of approximately 18.68%[17] Expenses - Management expenses rose by 35.16% due to new restructuring costs incurred during the period[10] - Research and development expenses for the first three quarters of 2021 were ¥19,606,587.57, slightly down from ¥20,276,855.82 in the same period of 2020[27]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥529,907,856.80, a decrease of 4.17% compared to ¥552,945,833.72 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥383,839,660.35, a significant recovery from a loss of ¥161,068,986.76 in the previous year[19]. - The basic earnings per share for the first half of 2021 was ¥0.6106, compared to a loss of ¥0.2562 per share in the same period last year[20]. - The weighted average return on net assets increased to 189.95%, up from -39.41% in the previous year, reflecting a substantial improvement in profitability[20]. - The total revenue for the first half of 2021 was ¥510,424,012.59, down from ¥535,960,128.58 in the same period of 2020, reflecting a decrease of approximately 4.5%[55]. - Net profit reached CNY 386.44 million, with net profit attributable to shareholders of CNY 383.84 million, marking a turnaround from loss to profit[36]. - The company reported a significant increase in investment income of CNY 405.45 million, compared to a loss of CNY 9.51 million in the first half of 2020[160]. - The company reported a net profit of CNY -198,000.00 for the current period, indicating a loss compared to the previous period[185]. Cash Flow and Assets - The net cash flow from operating activities was negative at -¥313,482,124.60, worsening from -¥23,297,425.69 in the same period last year[19]. - Cash and cash equivalents increased to ¥445,610,254.79, representing 14.23% of total assets, compared to only 0.49% in the previous year[57]. - The company reported a cash inflow from operating activities of CNY 548,919,067.57 in the first half of 2021, compared to CNY 483,218,978.44 in the same period of 2020[170]. - The company’s total assets as of June 30, 2021, were CNY 4.59 billion, down from CNY 4.95 billion at the end of 2020[157]. - Total current assets amounted to CNY 1,243,803,803.32, down from CNY 1,657,245,782.95[151]. - The total amount of restricted assets was ¥678,663,661.00, including fixed assets and intangible assets that are mortgaged[60]. Business Operations and Strategy - The company plans to shift its production model from self-production to outsourcing for sports footwear, aiming for improved efficiency and cost management[28]. - The company has established stable partnerships with multiple suppliers to ensure the quality and timely delivery of raw materials for production[27]. - The company’s e-commerce platform, Mingxieku, operates on a self-operated model, leveraging major online platforms to enhance sales and customer experience[30]. - The company is exploring new markets in the grain trade sector, leveraging resources from its reorganization investors[38]. - The company plans to enhance its R&D and marketing efforts, aiming to improve product market recognition and brand strength[38]. Market and Competition - The average disposable income per capita in China was ¥17,642, reflecting a 12.0% year-on-year increase, which supports the growth potential of the sports apparel industry[30]. - The sports apparel sector saw a significant rise in consumer preference for domestic brands, with Anta's retail sales increasing by 35-40% and Li Ning's net profit rising by 187% to ¥1.962 billion in the first half of 2021[31]. - The overall market concentration in the domestic sports apparel industry is increasing, posing competitive pressure on smaller enterprises[31]. - The company faces significant competition in the sportswear industry from brands like Nike and Adidas, impacting its market position[69]. Governance and Compliance - The company strictly adhered to environmental protection laws and regulations, with no violations or penalties reported during the period[80]. - The company’s governance structure and management changes were disclosed, with a focus on maintaining compliance with regulatory requirements[76]. - The company will enforce strict compliance with laws and regulations regarding related transactions during its shareholding period[89]. Restructuring and Financial Health - The company completed its judicial reorganization, with all creditor claims settled according to the reorganization plan[37]. - The company has eliminated the major uncertainties regarding its ability to continue as a going concern, as stated in the audit report[101]. - The restructuring plan execution has been in compliance with regulatory requirements[143]. - The company has completed the debt repayment and reservation for "14 Guirenniao" bondholders as per the restructuring plan[143]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 13,854[128]. - The top shareholder, Guiren Bird Group (Hong Kong) Limited, holds 416,115,000 shares, representing 26.48% of the total shares[130]. - The total number of shares before the change was 628,602,143, and after the change, it increased to 1,571,505,358[126]. Future Outlook - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[176]. - The company has not provided specific future guidance or outlook for the upcoming periods[195].

证券代码：603555 证券简称：*ST 贵人 公告编号：临 2021-038 债券代码：122346 债券简称：14 贵人鸟 | --- | --- | |----------------------------------------------------------------------|-------| | | | | 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： ●公司将于 2021 年 5 月 14 日（星期五）15:30-17:00 参加福建辖区上市公 司 2021 年度投资者网上集体接待日活动，于 5 月 19 日（星期三）14:00-15:00 召开公司 2020 年度业绩说明会，欢迎广大投资者积极参与。 贵人鸟股份有限公司（以下简称"公司"）已于 2021 年 4 月 28 日披露《贵 人鸟股份有限公司 2020 年年度报告》。为进一步加强与投资者的沟通交流，公 司将分别以参加"福建辖区上市公司 2021 年度投资者网上集体接待日"活动和 召开 2020 年度 ...

Financial Performance - Operating revenue increased by 22.35% to CNY 211,177,810.66 compared to the same period last year[5] - Net profit attributable to shareholders was CNY -59,157,138.64, showing an improvement from CNY -200,915,899.51 in the previous year[5] - Basic earnings per share improved to CNY -0.09 from CNY -0.32 year-on-year[6] - The company reported a significant decrease in financial expenses by 99.63%, down to ¥158,851.81 from ¥42,660,357.25, due to the cessation of interest on overdue debts[14] - The company experienced a 40.51% increase in income tax expenses, amounting to ¥2,111,452.30 compared to ¥1,502,728.90 from the previous year, due to increased profitability of consolidated subsidiaries[14] - The total comprehensive loss for Q1 2021 was CNY -96,001,510.65, compared to CNY -205,735,071.92 in Q1 2020, showing a reduction in overall losses[41] Cash Flow - The company reported a net cash flow from operating activities of CNY -11,767,602.50, an improvement from CNY -39,079,448.84 in the previous year[5] - Cash received from operating activities totaled CNY 297,989,309.05, compared to CNY 247,974,073.81 in the previous year, reflecting improved cash flow[44] - The net cash flow from operating activities was -¥4,045,145.75, an improvement compared to -¥40,032,752.40 in the same period last year, indicating a significant reduction in losses[47] - The total cash outflow for operating activities was ¥102,052,565.74, which is lower than the previous year's outflow of ¥118,578,707.21, showing improved cash management[47] Assets and Liabilities - Total assets decreased by 2.21% to CNY 3,494,361,068.64 compared to the end of the previous year[5] - The company's total liabilities were approximately CNY 3.53 billion as of March 31, 2021, slightly down from CNY 3.55 billion at the end of 2020[29] - The company's total equity decreased to ¥251,638,222.69 from ¥347,639,733.34, reflecting ongoing financial challenges[34] - The company's current assets totaled approximately CNY 1.59 billion as of March 31, 2021, compared to CNY 1.66 billion at the end of 2020[28] Shareholder Information - The total number of shareholders at the end of the reporting period was 11,130[11] - The largest shareholder, Guiren Bird Group (Hong Kong) Limited, holds 66.2% of the shares, totaling 416,115,000 shares[11] Research and Development - Research and development expenses rose by 41.71% to ¥7,548,468.06 from ¥5,326,605.34, indicating a focus on innovation[14] - Research and development expenses increased to CNY 7,548,468.06, up from CNY 4,926,880.81 in the previous year, indicating a focus on innovation[40] Government Support - The company received government subsidies amounting to CNY 2,608,350.85 related to its normal business operations[9] Restructuring Process - The company initiated a pre-restructuring process on September 4, 2020, following a court decision[22] - The court accepted the company's restructuring on December 8, 2020, and appointed a management team on December 11, 2020[22] - The first creditors' meeting was held on January 14, 2021, where the restructuring plan was approved[23] - The second creditors' meeting on April 23, 2021, also approved the restructuring plan and the equity adjustment scheme[24] - The court approved the restructuring plan on April 26, 2021, allowing the company to terminate the restructuring process[24] - The company aims to maximize operational value and protect creditor interests during the restructuring process[23] Sales Performance - Online sales accounted for ¥87,093,091.80, representing 43.10% of total sales, while offline sales were ¥114,970,373.42, making up 56.90%[21] - The company's total revenue for the first quarter was ¥202,063,465.22, a 24.25% increase from ¥168,163,468.10 in the same period last year[21] - Total operating revenue for Q1 2021 was ¥211,177,810.66, an increase of 22.3% compared to ¥172,608,126.29 in Q1 2020[36]

Financial Performance - The company's operating revenue for 2020 was approximately ¥1.19 billion, a decrease of 24.87% compared to ¥1.58 billion in 2019[22] - The net loss attributable to shareholders for 2020 was approximately ¥382.21 million, an improvement from a loss of ¥1.10 billion in 2019[22] - The company's total assets decreased by 7.25% to approximately ¥3.57 billion at the end of 2020, down from ¥3.85 billion at the end of 2019[23] - The net assets attributable to shareholders dropped by 97.50% to approximately ¥10.29 million, primarily due to the net loss incurred during the year[23] - The basic earnings per share for 2020 was -¥0.61, an improvement from -¥1.74 in 2019[24] - The weighted average return on equity was -181.22% for 2020, a decrease of 75.54 percentage points compared to -105.68% in 2019[24] - The company reported a net profit loss, leading to an increase in the debt ratio, which reached 99.25% at the end of the reporting period[73] - The company reported a net loss of -382,207,905.30 RMB for the year 2020, indicating continued financial difficulties[122] - The company reported a net profit of -1,018,558,230.28 RMB for 2019, leading to no profit distribution or capital reserve increase for that year[120] Operational Changes - The company plans not to distribute profits or increase capital reserves for the 2020 fiscal year[6] - The company has transitioned all direct-operated stores to be managed by distributors, completing the closure of unprofitable stores and shifting to a multi-distributor model within provinces to enhance control over distributors[41] - The company has focused on expanding its distributor network while reducing reliance on single distributors, moving from a "one province, one distributor" model to a "one province, multiple distributors" approach[41] - The company has established a comprehensive marketing network management system to support distributors, including training and sales behavior monitoring, to enhance profitability[41] - The company has adopted a self-operated model for its e-commerce platform, integrating resources to quickly sell products at competitive prices, which has become a significant profit source[42] Market Environment - The company reported a 2.3% growth in China's GDP for 2020, making it the only major economy to achieve positive growth, despite the textile and apparel industry facing significant challenges[44] - The retail sales of clothing, shoes, and hats in China decreased by 6.6% in 2020, indicating a tough market environment for the apparel sector[44] - The overall revenue of the textile and apparel industry in China decreased by 11.3% in 2020, reflecting the broader economic challenges faced by traditional industries[44] - The sportswear industry in China is expected to benefit from increased public interest in fitness, with 37.2% of the population aged 7 and above participating in regular physical activities in 2020[43] Restructuring and Legal Issues - The company is currently undergoing restructuring due to bond defaults, with most of its assets frozen[77] - The company has actively cooperated with judicial restructuring efforts, aiming to stabilize its operations and protect its assets during the process[56] - The company is facing risks related to its financial obligations and restructuring outcomes[137] - The company has received a restructuring application from creditor Quanzhou Qihuangxing Hardware Products Co., Ltd. due to inability to repay debts and lack of repayment capacity[133] - The court accepted the company's restructuring on December 8, 2020, and appointed a liquidation team to manage the restructuring[133] Supply Chain and Production - The company has established stable partnerships with multiple shoe material suppliers to ensure quality and delivery timelines[37] - The company’s procurement model for sports apparel is fully outsourced, with strict quality control measures in place for external manufacturers[37] - The company has implemented strict quality control measures for outsourced production of accessories, ensuring production efficiency and cost management[38] - The company has established a comprehensive supply chain in Jinjiang, Fujian, enhancing its production capabilities and logistics efficiency[50] Corporate Governance - The company has appointed independent directors to enhance governance and oversight[179] - The management team includes professionals with extensive experience in finance, law, and management, contributing to strategic decision-making[178] - The company has a governance structure that complies with relevant laws and regulations, ensuring effective decision-making and risk control[188] - The company has a dedicated investor relations team to manage communications and maintain good relationships with investors[190] Employee and Management Structure - The total number of employees in the parent company is 2,074, while the main subsidiaries have 680 employees, resulting in a total of 2,754 employees[183] - The company has implemented a salary policy that includes performance-based salary adjustments and incentives to reduce employee turnover[184] - The company has established a comprehensive training program aimed at enhancing employee skills and capabilities, including internal training sessions and leadership development projects[185] Financial Obligations and Risks - The company has overdue bonds amounting to 1.146938 billion RMB and overdue bank loans of 977.14 million RMB[127] - 25 bank accounts were frozen due to litigation, indicating significant financial distress[127] - The company is subject to a major uncertainty regarding its ability to continue as a going concern due to its financial situation[127] - The company has faced regulatory scrutiny from the Shanghai Stock Exchange and the China Securities Regulatory Commission due to information disclosure violations, leading to warnings and corrective measures[141][142] Shareholder Information - Guirenniao Group (Hong Kong) Limited holds 66.20% of shares, with a total of 416,115,000 shares, and has pledged all of them[164] - The total number of ordinary shareholders at the end of the reporting period is 11,411, an increase from 11,130 at the end of the previous month[162] - The total number of shares held by the top ten shareholders reflects a significant portion of the company's equity structure[165] Compliance and Internal Controls - The company has implemented internal control improvements to ensure compliance with financial management regulations and enhance operational oversight[143] - The company is focused on ensuring the effective operation of its internal control system to prevent future compliance issues[143] - The company has committed to timely and accurate information disclosure as part of its regulatory compliance efforts[141]