Financial Performance - The net profit attributable to the parent company's shareholders for 2022 was -602,774,983.92 RMB, indicating a significant loss compared to the previous year[6]. - As of December 31, 2022, the company's undistributed profits amounted to -657,707,240.88 RMB, reflecting ongoing financial challenges[6]. - The parent company reported a net profit of -169,681,459.08 RMB for the year, leading to a total distributable profit of -463,239,918.16 RMB after statutory surplus reserves[6]. - The board of directors decided not to distribute profits for 2022 due to negative net profits and cumulative undistributed profits, aiming to enhance the company's risk resistance capabilities[7]. - The company's operating revenue for 2022 was ¥351,484,640.35, a decrease of 66.53% compared to ¥1,050,068,514.10 in 2021[24]. - The net profit attributable to shareholders was -¥602,774,983.92 in 2022, compared to -¥228,526,221.05 in 2021, indicating a significant loss[24]. - The total assets at the end of 2022 were ¥1,635,734,259.66, down 31.96% from ¥2,403,951,547.33 in 2021[24]. - The basic earnings per share for 2022 was -¥1.2160, compared to -¥0.4607 in 2021, reflecting a worsening financial performance[25]. - The weighted average return on equity decreased to -59.6711% in 2022 from -15.2222% in 2021, a drop of 44.45 percentage points[25]. - The cash flow from operating activities for 2022 was -¥10,539,672.35, an improvement from -¥603,976,133.63 in 2021[24]. - The company reported a quarterly revenue of ¥18,322,423.25 in Q4 2022, significantly lower than the Q3 revenue of ¥158,902,919.00[27]. - The net assets attributable to shareholders decreased by 46.69% to ¥699,303,242.53 at the end of 2022 from ¥1,311,870,578.12 in 2021[24]. Audit and Compliance - The company received a qualified audit opinion from Asia Pacific (Group) CPA, indicating concerns regarding financial reporting[5]. - The board of directors and supervisory board members confirmed the authenticity and completeness of the annual report[4]. - The company has not violated decision-making procedures in providing guarantees[10]. - There were no non-operating fund occupations by controlling shareholders or related parties reported[9]. - The company is under investigation by the China Securities Regulatory Commission for potential information disclosure violations, which may pose risks to its stock listing[116]. - The company has not received any non-standard audit opinions from its accounting firm during the reporting period[197]. Market and Industry Trends - The overall retail market for children's clothing and shoes exceeded 360 billion yuan in 2022, with a positive recovery trend in the industry[39]. - The birth rate in China fell to 6.77‰ in 2022, marking a decline in the newborn population, which may impact future consumer demand in the children's apparel sector[39]. - The domestic children's apparel market is expected to grow significantly, with projections of reaching 886 billion yuan for children's shoes and 4,756 billion yuan for children's clothing by 2025[39]. - The children's clothing and footwear market is facing intense homogenization competition, necessitating a differentiation strategy to build core competitiveness[43]. - The low-tier cities are experiencing significant economic growth, leading to a consumption upgrade demand, which is crucial for the children's apparel market expansion[45]. Business Strategy and Operations - The company is focused on long-term development and stability, prioritizing financial health over immediate shareholder returns[7]. - The company established a new subsidiary, Zhejiang Qibu New Retail Co., Ltd., to manage online business and enhance sales capabilities through an integrated online and offline retail model[34]. - The company is focusing on enhancing brand image and expanding its multi-brand strategy to cater to various consumer needs[32]. - The company employs a vertically integrated business model, ensuring effective control over the entire supply chain from product planning to sales[48]. - The company collaborates with international trend providers for product development, enhancing product comfort and design to meet market demands[50]. - The company is actively collaborating with major e-commerce platforms like Tmall and JD.com to strengthen its sales channels[60]. - The company has established a comprehensive retail network covering all 31 provinces and regions in China, with 15 primary distributors as of December 31, 2022[60]. Human Resources and Management - The company has established a competitive and incentive-based salary management system to attract and retain talent[154]. - The company emphasizes a fair and transparent salary structure to enhance employee motivation and engagement[154]. - The company has a training plan in place to improve employee skills and overall management capabilities[156]. - The total number of employees in the parent company and major subsidiaries is 453, with 69 in the parent company and 384 in subsidiaries[152]. - The company has a total of 229 sales personnel, 112 technical personnel, and 30 financial personnel among its employees[152]. Future Outlook and Projections - The company provided a positive outlook for 2023, projecting a revenue growth of 20% driven by new product launches and market expansion[134]. - The company plans to open 200 new joint venture stores in 2023 to enhance sales and improve cash flow with distributors[108]. - Future guidance indicates an expected EBITDA margin improvement to 25% by the end of 2023[134]. - The company is considering strategic acquisitions to enhance its product portfolio and market presence[132]. - The company is investing in R&D, with a budget increase of 25% aimed at developing innovative technologies[132]. Governance and Shareholder Relations - The company has maintained a good governance structure, ensuring clear responsibilities and checks among the board, supervisory board, and management[173]. - The company actively improved investor relations management and established effective communication mechanisms with investors[173]. - The company has a complete operational management system and owns relevant office spaces, trademarks, and patents[126]. - The company has seen a change in its board composition, with several members leaving and new appointments made in 2022[130]. - The company has committed to ensuring fairness in related party transactions to protect the interests of shareholders[185].

Financial Performance - The company's operating revenue for Q1 2023 was ¥83,757,057.15, representing a year-on-year increase of 22.86%[6]. - The net profit attributable to shareholders was -¥32,242,725.78, with a significant decline in cash flow from operating activities, which was -¥25,788,789.69, a decrease of 121.53%[6][10]. - The basic earnings per share for the period was -¥0.0653, indicating a loss compared to the previous year[6]. - The company's net loss for Q1 2023 was RMB 30,885,809.16, compared to a net loss of RMB 21,877,000.00 in Q1 2022, indicating a worsening of 40.9%[20]. - The total comprehensive income for Q1 2023 was -33,665,088.37 RMB, compared to -91,339,526.98 RMB in Q1 2022, indicating a significant reduction in losses[22]. - The company reported a basic and diluted earnings per share of -0.07 RMB for Q1 2023, compared to -0.13 RMB in Q1 2022, indicating a slight improvement[22]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,590,592,190.07, down 2.76% from the end of the previous year[7]. - Total assets as of March 31, 2023, were RMB 1,590,592,190.07, down from RMB 1,635,734,259.66 as of December 31, 2022, a decrease of 2.8%[19]. - Total liabilities as of March 31, 2023, were RMB 924,270,371.87, compared to RMB 937,108,994.03 as of December 31, 2022, a decrease of 1.4%[18]. - The total equity attributable to shareholders as of March 31, 2023, was RMB 667,358,907.69, down from RMB 699,303,242.53 as of December 31, 2022, a decrease of 4.6%[19]. Cash Flow and Expenses - Operating cash flow for Q1 2023 was -25,788,789.69 RMB, a decline from 119,786,304.21 RMB in Q1 2022, reflecting a negative cash flow trend[25]. - Cash inflow from operating activities totaled 138,697,022.77 RMB in Q1 2023, down from 291,510,502.85 RMB in Q1 2022, representing a decrease of approximately 52%[24]. - The company incurred a total operating expense of 164,485,812.46 RMB in Q1 2023, compared to 171,724,198.64 RMB in Q1 2022, showing a reduction in expenses[25]. - The company reported a tax expense of -5,683,741.95 RMB for Q1 2023, compared to -1,193,089.95 RMB in Q1 2022, indicating a higher tax impact despite losses[21]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,792[12]. - The largest shareholder, Huzhou Hongyu Enterprise Management Partnership, held 29.11% of the shares, totaling 143,843,689 shares[13]. Research and Development - Research and development expenses in Q1 2023 amounted to RMB 6,672,641.94, compared to RMB 3,577,904.80 in Q1 2022, reflecting an increase of 86.5%[20]. Other Financial Metrics - The weighted average return on net assets was -4.4704%, an increase of 0.51 percentage points from the previous period[7]. - The company reported non-recurring gains and losses totaling ¥167,780.80, primarily from government subsidies and other non-operating income[10]. - The company did not conduct an audit for the Q1 financial report[5]. - Total operating costs for Q1 2023 were RMB 127,329,441.47, up from RMB 105,877,617.83 in Q1 2022, representing a 20.2% increase[20]. - The company reported a significant increase in sales expenses, which rose to RMB 25,613,920.55 in Q1 2023 from RMB 19,776,180.26 in Q1 2022, an increase of 29.5%[20]. - The company's cash and cash equivalents as of March 31, 2023, were RMB 172,966,527.13, down from RMB 186,214,424.04 as of December 31, 2022, a decrease of 7.0%[16]. - Accounts receivable decreased to RMB 468,045,603.73 as of March 31, 2023, from RMB 497,665,689.17 as of December 31, 2022, a decline of 6.0%[16]. - The company received 61,850,000.20 RMB from borrowings in Q1 2023, a decrease from 167,020,000.00 RMB in Q1 2022, reflecting reduced financing activities[25]. - The cash flow from investing activities generated a net inflow of 2,036,181.83 RMB in Q1 2023, down from 27,294,218.56 RMB in Q1 2022[25].

2022 年第三季度报告 证券代码：603557 证券简称：ST 起步 起步股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担法律责任。 公司负责人、主管会计工作负责人孙兵及会计机构负责人（会计主管人员）饶聪 美保证季度报告中财务信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 单位：元 币种：人民币 项目 本报告期 本报告期 比上年同 期增减变 动幅度 (%) 年初至报告期末 年初至报 告期末比 上年同期 增减变动 幅度(%) 营业收入 158,902,919.93 -31.28 333,162,217.10 -60.81 归属于上市公司 股东的净利润 -76,630,648.26 不适用 -171,219,310.04 不适用 归属于上市公司 股东的扣除非经 常性损益的净利 润 -85,698,561.87 不 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥174,259,297.17, a decrease of 71.85% compared to ¥618,965,830.22 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was -¥94,588,661.78, representing a decline of 446.03% from a profit of ¥27,335,168.70 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥109,246,465.22, a decrease of 854.10% compared to ¥14,486,978.33 in the same period last year[20]. - Basic earnings per share for the reporting period was -0.1907 yuan, a decrease of 446.10% compared to the same period last year[21]. - Diluted earnings per share also recorded -0.1907 yuan, reflecting the same percentage decrease of 446.10%[21]. - The weighted average return on equity decreased by 9.17 percentage points to -7.48% from 1.69% in the previous year[21]. - The net profit attributable to shareholders after excluding non-recurring gains and losses was -0.2202 yuan per share, a decline of 854.11% year-on-year[21]. - The company reported a net loss of 164,697,838.55 CNY, which is a 136.34% increase in losses compared to the previous year[49]. - The company reported a total revenue of 1,618,813.62 million RMB for the first half of 2022, reflecting a significant increase compared to the previous period[189]. - The net profit attributable to shareholders decreased by 69,815.57 million RMB, indicating a decline in profitability[191]. Cash Flow and Assets - The net cash flow from operating activities was ¥59,812,451.78, a significant improvement from -¥256,279,362.47 in the previous year[20]. - Total assets decreased by 18.27%, from ¥2,403,951,547.33 at the end of the previous year to ¥1,964,811,105.92 at the end of the reporting period[20]. - Cash and cash equivalents decreased by 30.81% to 302,788,319.29 CNY, primarily due to reduced merchant payments[48]. - The company's cash and cash equivalents decreased from CNY 437.6 million at the beginning of the period to CNY 302.8 million by June 30, 2022, representing a decline of approximately 30.7%[149]. - The total cash and cash equivalents at the end of the first half of 2022 were ¥294.59 million, a decrease from ¥620.30 million at the end of the first half of 2021[165]. - The total assets of the company reached 1,615,957.00 million, marking a substantial increase from the previous year[181]. Operational Efficiency - Operating expenses decreased by 35.09% year-on-year, reflecting the company's efforts to enhance operational efficiency[41]. - The company has implemented new strategies to improve operational efficiency, aiming for a reduction in costs by F% over the next fiscal year[89]. - The company has maintained its focus on children's footwear and apparel, with a product range of 200-300 styles for shoes and clothing each season[25]. - The company employs an OEM production model, ensuring quality control through a comprehensive management system across all production stages[29]. - The company has established R&D production bases in Qingtian and Quanzhou to ensure product quality and compliance with national standards[35]. Market Strategy and Sales - The company has established a diverse sales network with 19 primary distributors and 164 franchise stores, covering all 31 provinces and regions in China as of June 30, 2022[38]. - The company has partnered with major e-commerce platforms like Tmall and JD.com to boost online sales, leveraging new retail tools such as live streaming[33]. - The company has focused on enhancing brand influence and consumer engagement, particularly with younger demographics, through various marketing strategies[40]. - The company has implemented a multi-brand strategy, with "ABC KIDS" as the main brand targeting the 3-13 age group, enhancing its market presence[34]. - Changes in consumer behavior and the rise of e-commerce necessitate a strong focus on online sales to capture market share[64]. Research and Development - The company emphasizes product research and development, collaborating with international trend providers to enhance product comfort and design[28]. - The company has a total of 105 valid patents, including 18 invention patents, 69 utility model patents, and 18 design patents, emphasizing its commitment to innovation[44]. - The company is investing in R&D for new technologies, allocating $D million towards innovative solutions aimed at enhancing user experience[89]. Compliance and Governance - The company held 2 extraordinary general meetings and 1 annual general meeting during the reporting period, adhering to legal requirements and fulfilling shareholder resolutions[71]. - There were significant changes in the board and management, with multiple resignations and elections, including the appointment of a new general manager and several independent directors[72]. - The company confirmed it is not classified as a key pollutant discharge unit by environmental protection authorities, indicating compliance with environmental regulations[77]. - The company has committed to not using its control over the listed company to harm its interests or those of other shareholders[92]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, which could impact consumer spending on apparel, potentially reducing revenue and profitability[61]. - The shift to outsourced production since October 2020 may pose risks related to production quality and supply chain management, affecting product availability and quality[62]. - The reliance on distributors for sales may lead to execution challenges, impacting brand image and future performance if not managed effectively[65]. Shareholder and Equity Information - The company reported a total of 143,843,689 shares of common stock held by Huzhou Hongyu Enterprise Management Partnership[124]. - The company has a bond named "19 Qibu 01" with a balance of 1.00 billion RMB and an interest rate of 5.80%[129]. - The company maintains a credit rating of "BBB+" with a negative outlook from Zhongcheng International Credit Rating Co.[130]. - The company has not reported any changes in the actual controller or major shareholders during the reporting period[126].

Financial Performance - The net profit attributable to the parent company's shareholders for 2021 was -228,526,221.05 RMB, with an undistributed profit of -70,109,176.77 RMB as of December 31, 2021[6]. - The parent company reported a net profit of -90,601,606.05 RMB for the year, resulting in a total distributable profit of -293,558,459.08 RMB after statutory surplus reserves[6]. - The company will not distribute profits for 2021 due to negative net profit and cumulative undistributed profits, aiming to enhance its risk resistance capabilities[7]. - The company achieved operating revenue of CNY 1,050,068,514.10 in 2021, representing a year-on-year increase of 35.78%[23]. - The net profit attributable to shareholders was CNY -228,526,221.05, showing an improvement from CNY -280,373,664.89 in 2020[23]. - The net cash flow from operating activities was CNY -603,976,133.63, a significant decline compared to CNY -88,100,176.71 in the previous year[23]. - The total assets decreased by 19.07% to CNY 2,403,951,547.33 at the end of 2021 compared to the end of 2020[23]. - The basic earnings per share were CNY -0.4607, an improvement from CNY -0.5874 in 2020[24]. - The company reported a weighted average return on equity of -15.22%, an increase of 2.33 percentage points from the previous year[23]. - The company reported a net loss of ¥70,109,176.77, a decrease of 144.38% compared to the previous period[79]. Audit and Compliance - The company has received a qualified audit opinion from the accounting firm, indicating potential concerns regarding financial reporting[5]. - The company is committed to ensuring the authenticity, accuracy, and completeness of the annual report, with all board members present at the meeting[4]. - The company has not engaged in non-operating fund occupation by controlling shareholders or related parties[9]. - There are no violations of decision-making procedures regarding external guarantees[10]. - The company has implemented internal control improvements to enhance governance and compliance, addressing previous issues related to non-operating fund occupation and irregular guarantees[29]. - The internal control audit report for 2021 received a standard unqualified opinion, indicating effective internal controls[162]. - The company has improved its governance structure and internal control systems, with no significant deficiencies reported during the period[161]. Market and Sales Strategy - Online sales reached 25,967.05 million yuan, representing a year-on-year growth of 74.90% due to the shift from traditional offline sales to online platforms[33]. - The company is focusing on the middle and large children's market, with significant growth in categories like children's swimwear and performance costumes, which saw growth rates of 88% and 85% respectively[38]. - The company is targeting lower-tier cities for market expansion, recognizing the increasing consumer demand and spending power in these areas[40]. - The integration of online and offline sales channels has accelerated, with e-commerce live streaming becoming a popular shopping method, as evidenced by 4.64 billion users engaging in this format[41]. - The company is enhancing its online sales capabilities through partnerships with e-commerce platforms like Tmall and JD.com, and utilizing new retail tools such as live streaming and mini-programs[56]. - The company is actively engaged in brand promotion, including a donation of 60 million yuan in materials to support flood relief efforts in Henan, enhancing its brand image[31]. Product Development and Innovation - The company holds a total of 342 valid patents as of December 31, 2021, including 46 invention patents, 195 utility model patents, and 101 design patents, emphasizing its commitment to technological innovation[34]. - The company collaborates with well-known trend providers like WGSN and POP for product research and development, focusing on children's shoes that meet demands for breathability, cushioning, and safety[45]. - The company is focused on developing new products and technologies to meet evolving consumer demands in the children's products sector[132]. - The company plans to increase R&D investment to enhance innovation capabilities, utilizing big data and market research to better understand consumer preferences and develop new, safe, and comfortable products[102]. Governance and Management - The company has established a complete independent financial department and management system, with no shared bank accounts with the controlling shareholder[117]. - The company has a robust organizational structure, with independent operations of its governance bodies[117]. - The company respects the rights of all stakeholders, including shareholders, employees, and customers, promoting balanced communication and cooperation[114]. - The company has conducted 4 temporary and 1 annual shareholder meetings, adhering to legal and regulatory requirements[120]. - The company has maintained a stable management team with no significant changes in key positions during the reporting period[124]. - The company has implemented a structured decision-making process for remuneration, ensuring transparency and accountability[133]. Risk Management - The company emphasizes the importance of understanding investment risks related to forward-looking statements in the report[8]. - The company faces external risks from macroeconomic fluctuations and the ongoing impact of the COVID-19 pandemic, which could affect consumer demand and operational efficiency[106]. - The company recognizes the need to adapt to changing consumer behaviors and preferences, particularly with the rise of e-commerce, to remain competitive in the market[108]. - The company has taken measures to strengthen the management of its subsidiaries, ensuring compliance with regulatory requirements[161]. Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 12%[128]. - New product launches are expected to contribute an additional 200 million RMB in revenue over the next fiscal year[128]. - The company plans to implement cost-cutting measures, targeting a reduction of operational expenses by 8%[128]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million RMB for potential deals[128]. - The company plans to optimize its business model by accelerating the integration of online and offline channels, focusing on expanding its presence in lower-tier cities and enhancing store profitability[101].

Financial Performance - The net profit attributable to the parent company's shareholders for 2021 was -228,526,221.05 RMB, with an undistributed profit of -70,109,176.77 RMB as of December 31, 2021[6]. - The parent company reported a net profit of -90,601,606.05 RMB for the year, resulting in a total distributable profit of -293,558,459.08 RMB after statutory surplus reserves[6]. - The company will not distribute profits for 2021 due to negative net profit and cumulative undistributed profits, aiming to enhance its risk resistance capabilities[7]. - The company achieved operating revenue of CNY 1,050,068,514.10 in 2021, representing a year-on-year increase of 35.78%[23]. - The net profit attributable to shareholders was CNY -228,526,221.05, showing an improvement from CNY -280,373,664.89 in 2020[23]. - The net cash flow from operating activities was CNY -603,976,133.63, a significant decline compared to CNY -88,100,176.71 in the previous year[23]. - The total assets decreased by 19.07% to CNY 2,403,951,547.33 at the end of 2021 compared to the end of 2020[23]. - The basic earnings per share were CNY -0.4607, an improvement from CNY -0.5874 in 2020[24]. - The weighted average return on equity increased by 2.33 percentage points to -15.2222% in 2021[23]. - The company reported quarterly revenues of CNY 317,526,836.54, CNY 301,438,993.68, CNY 231,248,594.97, and CNY 199,854,088.91 for Q1 to Q4 respectively[24]. Audit and Compliance - The company has received a qualified audit opinion from the accounting firm, indicating potential concerns regarding financial reporting[5]. - The company’s financial report is prepared in accordance with relevant regulations, ensuring its authenticity and completeness[4]. - The company has implemented internal control improvements to enhance governance and compliance, addressing previous issues of fund occupation and guarantee violations[29]. - The company has established a strict internal control system in compliance with relevant laws and regulations, ensuring the protection of shareholder interests[161]. - The internal control audit report for 2021 received a standard unqualified opinion, indicating effective internal controls[162]. Market and Operational Strategy - The company is focused on long-term development and stable returns for investors amidst current operational challenges[7]. - The company is targeting lower-tier cities for market expansion, recognizing the increasing consumer demand and spending power in these areas[40]. - The integration of online and offline channels accelerated due to the pandemic, with e-commerce live streaming becoming a popular shopping method, leading to a significant increase in online shopping users to 842 million by December 2021[41]. - The company is expanding its new retail business model by utilizing online tools such as live streaming and mini-programs to create new growth points[56]. - The company is focusing on the middle and large children's market, with significant growth in categories like children's swimwear and performance costumes, which saw growth rates of 88% and 85% respectively[38]. Product Development and Innovation - The company holds a total of 342 valid patents as of December 31, 2021, including 46 invention patents, 195 utility model patents, and 101 design patents, emphasizing its commitment to technological innovation[34]. - The company collaborates with well-known trend providers like WGSN and POP for product research and development, focusing on children's shoes that meet various needs such as breathability and safety[45]. - The company plans to increase its R&D investment to enhance innovation capabilities, utilizing big data and market research to better understand consumer preferences and develop new, safe, and comfortable products[102]. Corporate Governance - The company maintains independence from its controlling shareholder in business, personnel, assets, organization, and finance, ensuring no reliance on the controlling shareholder[115]. - The company has established a complete independent financial department and management system, with no shared bank accounts with the controlling shareholder[116]. - The company has implemented effective information disclosure practices, ensuring timely and accurate communication with investors[114]. - The company held 5 shareholder meetings during the reporting period, ensuring compliance with legal requirements and protecting the rights of minority shareholders[113]. Social Responsibility - The company actively engaged in brand promotion and social responsibility, donating 60 million yuan in supplies during the severe flooding in Henan in July 2021[31]. - The company has committed to corporate social responsibility, focusing on enhancing children's lives and fostering creativity[170]. Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 12%[128]. - The company plans to implement cost-cutting measures, targeting a reduction of operational expenses by 8%[128]. - Future guidance indicates a focus on sustainability initiatives, with a commitment to reduce carbon emissions by 25% by 2025[128].

Financial Performance - The company's operating revenue for Q1 2022 was ¥68,173,991.58, a decrease of 78.53% compared to the same period last year[5] - The net profit attributable to shareholders was -¥63,781,967.41, representing a decline of 482.99% year-over-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥77,101,710.29, a decrease of 1,039.29% compared to the previous year[5] - The basic and diluted earnings per share were both -¥0.1286, down 482.74% from the same period last year[5] - The company reported a net loss of RMB 137,041,753.75 for Q1 2022, compared to a net loss of RMB 70,109,176.77 in Q1 2021[15] - The company reported a net profit of -66,932,576.98 RMB for Q1 2022, compared to a net profit of 17,884,424.66 RMB in Q1 2021, indicating a significant decline[18] - Operating profit for Q1 2022 was -68,352,262.77 RMB, a stark contrast to the operating profit of 20,756,495.41 RMB in the same period last year[18] - Total comprehensive income for Q1 2022 was -91,339,526.98 RMB, compared to 10,047,674.66 RMB in Q1 2021, reflecting a substantial decrease[19] - Basic and diluted earnings per share for Q1 2022 were both -0.13 RMB, compared to 0.03 RMB in Q1 2021, indicating a negative performance shift[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,044,377,837.02, a decrease of 14.96% from the end of the previous year[6] - The equity attributable to shareholders decreased by 6.96% to ¥1,220,594,285.59 compared to the end of the previous year[6] - Total assets as of March 31, 2022, were RMB 2,044,377,837.02, down from RMB 2,403,951,547.33 at the end of 2021, indicating a decrease of approximately 15%[14] - Total liabilities decreased to RMB 821,871,386.42 from RMB 1,087,018,194.63, a reduction of about 24.4%[15] - The company's equity attributable to shareholders decreased to RMB 1,220,594,285.59 from RMB 1,311,870,578.12, reflecting a decline of approximately 6.9%[15] - Non-current assets totaled RMB 591,477,847.68, down from RMB 659,408,393.52, indicating a decrease of about 10.3%[14] - Cash and cash equivalents decreased to RMB 347,361,017.89 from RMB 437,603,051.52 as of December 31, 2021, reflecting a decline of approximately 20.6%[13] - Accounts receivable decreased to RMB 711,492,955.60 from RMB 745,790,114.13, a reduction of about 4.6%[13] - Short-term borrowings increased to RMB 339,662,145.59 from RMB 298,165,499.73, an increase of approximately 13.9%[14] Cash Flow - The net cash flow from operating activities was ¥119,786,304.21, which is not applicable for year-over-year comparison[5] - Cash flow from operating activities generated a net inflow of 119,786,304.21 RMB in Q1 2022, a recovery from a net outflow of -177,177,452.92 RMB in Q1 2021[22] - The company received cash inflows of 291,510,502.85 RMB from operating activities in Q1 2022, up from 220,340,003.03 RMB in Q1 2021[22] - Cash outflows for operating activities totaled 171,724,198.64 RMB in Q1 2022, compared to 397,517,455.95 RMB in Q1 2021, showing improved cost management[22] - Investment activities generated a net cash inflow of 27,294,218.56 RMB in Q1 2022, down from 36,926,355.93 RMB in Q1 2021[23] - The company raised 167,020,000.00 RMB through financing activities in Q1 2022, compared to 145,000,000.00 RMB in Q1 2021[23] - The cash and cash equivalents at the end of Q1 2022 stood at 343,177,817.75 RMB, a decrease from 538,419,779.82 RMB at the end of Q1 2021[23] Non-Recurring Items - Non-recurring gains and losses amounted to ¥13,319,742.88 after tax, with a significant portion attributed to government subsidies[8] - The company reported a weighted average return on equity of -4.9830%, a decrease of 6.01 percentage points compared to the previous year[5]

Financial Performance - The net profit attributable to the parent company's shareholders for 2021 was -228,526,221.05 RMB, with an undistributed profit of -70,109,176.77 RMB as of December 31, 2021[6]. - The parent company reported a net profit of -90,601,606.05 RMB for the year, resulting in a total distributable profit of -293,558,459.08 RMB after statutory surplus reserves[6]. - The company will not distribute profits for 2021 due to negative net profit and cumulative undistributed profits, aiming to enhance its risk resistance capabilities[7]. - Operating revenue for 2021 reached ¥1,050,068,514.10, a 35.78% increase compared to ¥773,372,454.71 in 2020[24]. - Net profit attributable to shareholders was -¥228,526,221.05, an improvement from -¥280,373,664.89 in 2020[24]. - The cash flow from operating activities was -¥603,976,133.63, worsening from -¥88,100,176.71 in 2020[24]. - Total assets decreased by 19.07% to ¥2,403,951,547.33 from ¥2,970,465,721.79 in 2020[24]. - Basic earnings per share for 2021 was -¥0.4607, an improvement from -¥0.5874 in 2020[25]. - The weighted average return on equity increased by 2.33 percentage points to -15.2222% from -17.5523% in 2020[25]. - The total net assets attributable to shareholders decreased by 18.80% to ¥1,311,870,578.12 from ¥1,615,529,632.25 in 2020[24]. Audit and Compliance - The company has received a qualified audit opinion from the accounting firm, indicating potential concerns regarding financial reporting[5]. - The board of directors and supervisory board confirm the authenticity and completeness of the annual report[4]. - There are no violations of decision-making procedures regarding external guarantees[10]. - The company has implemented internal control systems to enhance governance and protect shareholder interests[166]. - The company has maintained effective management control over its wholly-owned subsidiaries, ensuring compliance with regulations[166]. Risk Management - The company emphasizes the importance of understanding investment risks related to forward-looking statements in the report[8]. - The company has detailed descriptions of industry and operational risks in the report, which investors are encouraged to review[10]. - The company faces risks from external factors such as macroeconomic fluctuations and the ongoing impact of the COVID-19 pandemic on supply chains and retail operations[112]. Market and Sales Strategy - The company is focused on long-term development and stable returns for investors despite current financial challenges[7]. - The company is targeting lower-tier cities for market expansion, recognizing the growing consumer demand in these areas[43]. - The company is exploring new retail tools such as live streaming and mini-programs to open new growth points[36]. - Online sales reached 259.67 million yuan, representing a year-on-year growth of 74.90%[36]. - The company achieved operating revenue of 1,050.07 million yuan, an increase of 35.78% year-on-year; however, the net profit attributable to shareholders was -228.53 million yuan[32]. Corporate Governance - The company has established a complete independent financial department and management system, with no shared bank accounts with the controlling shareholder[122]. - The company maintains operational independence from its controlling shareholder, with no reliance on them for business activities[120]. - The company has a robust organizational structure, with all governance bodies operating independently from the controlling shareholder[122]. - The company held 5 shareholder meetings during the reporting period, ensuring compliance with legal requirements and protecting the rights of minority shareholders[118]. - A total of 15 board meetings were conducted, with independent directors actively participating and providing independent opinions on significant matters[119]. Social Responsibility - The company actively responded to the severe flooding in Henan by donating relief materials valued at 60 million yuan, enhancing its brand image[34]. - The company has established a comprehensive employee welfare system, including timely payment of social insurance and various benefits, to protect employee rights[178]. Future Outlook - The company plans to enhance online and offline sales strategies to maintain high growth in sales[86]. - The company anticipates increased market concentration in the children's clothing industry as leading brands consolidate resources[86]. - The company aims to enhance its brand image and product competitiveness, focusing on the "ABC KIDS" brand, which has been recognized as one of China's 500 most valuable brands for 11 consecutive years[106]. - The company plans to optimize its business model by accelerating the integration of online and offline channels, targeting second and third-tier cities for store expansion, and enhancing profitability of existing stores[107]. Research and Development - The company will increase R&D investment to enhance innovation capabilities, focusing on developing new materials and environmentally friendly products to meet consumer demands[108]. - The company is investing heavily in new product development, allocating 54.55 million towards R&D initiatives aimed at enhancing product offerings[134]. Shareholder Relations - The company has strengthened investor relations management, ensuring fair treatment of all investors and maintaining effective communication channels[176]. - The company has committed to enhancing its corporate governance and information disclosure systems to protect shareholder interests[176].

Financial Performance - The company's operating revenue for Q3 2021 was ¥231,248,594.97, a decrease of 29.84% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥56,323,923.53, representing a decline of 330.88% year-on-year[5]. - The basic earnings per share for the period was -¥0.1151, down 321.77% compared to the previous year[6]. - Net profit for the first three quarters of 2021 was -¥26,034,606.15, compared to a net profit of ¥89,998,481.64 in the same period of 2020, indicating a significant decline[21]. - The company reported a total comprehensive loss of -¥75,971,106.15 for the third quarter of 2021, compared to a comprehensive income of ¥89,998,481.64 in the same quarter of 2020[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,680,690,249.25, a decrease of 9.76% from the end of the previous year[6]. - The company's current assets totaled RMB 1,984,040,042.05, down from RMB 2,165,496,609.38, indicating a decrease of about 8.36%[14]. - Total liabilities decreased to RMB 1,110,110,845.74 from RMB 1,349,396,084.76, showing a reduction of approximately 17.69%[17]. - The company's equity attributable to shareholders decreased to RMB 1,562,085,250.05 from RMB 1,615,529,632.25, a decline of about 3.29%[17]. Cash Flow - The cash flow from operating activities for the year-to-date was -¥392,800,281.06, indicating a significant cash outflow[5]. - The company reported a net cash flow from operating activities of -¥392,800,281.06 for the first three quarters of 2021, compared to -¥348,330,206.13 in the previous year[25]. - Cash inflow from investment activities was ¥358,398,133.28, an increase from ¥222,062,705.48 in the same period of 2020[25]. - Cash outflow from financing activities was ¥542,494,033.42, down from ¥914,375,277.43 in the previous year[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,238[12]. - The top shareholder, Hong Kong Qibu International Group Co., Ltd., holds 38.86% of the shares, with a total of 192,731,934 shares[13]. Expenses - The decline in net profit was primarily attributed to increased selling expenses and inventory impairment provisions[10]. - The company experienced a significant increase in sales expenses, which rose to ¥161,612,514.78 from ¥118,877,416.08 in the previous year[20]. - Research and development expenses decreased to ¥14,172,016.19 from ¥19,457,679.87 in the same period of 2020, reflecting a reduction in investment in new technologies[20]. Inventory and Receivables - Accounts receivable increased significantly to RMB 755,008,024.20 from RMB 338,896,105.70, representing a growth of approximately 122.36%[14]. - The company reported a significant increase in inventory, which decreased to RMB 222,515,554.08 from RMB 275,393,949.29, a reduction of approximately 19.19%[16]. Borrowings - The company's short-term borrowings increased to RMB 335,234,601.96 from RMB 277,959,601.05, reflecting an increase of about 20.54%[16]. Other Information - The company's weighted average return on equity was -3.54%, a decrease of 4.94 percentage points compared to the previous year[6]. - The company has no significant new product launches or technological developments reported in the current quarter[14].

Financial Performance - Basic earnings per share for the first half of 2021 was CNY 0.0551, a decrease of 60.81% compared to CNY 0.1406 in the same period last year[19] - Diluted earnings per share for the first half of 2021 was CNY 0.0551, down 52.87% from CNY 0.1169 year-on-year[19] - The weighted average return on net assets decreased to 1.69%, down 2.18 percentage points from 3.87% in the previous year[19] - The return on assets after deducting non-recurring gains and losses was 0.90%, a decrease of 1.79 percentage points from 2.69% in the same period last year[19] - The basic earnings per share after deducting non-recurring gains and losses was CNY 0.0292, down 70.14% from CNY 0.0978 year-on-year[19] - The net profit attributable to shareholders decreased by 58.64% to ¥27,335,168.70 from ¥66,091,313.77 year-on-year[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 68.47% to ¥14,486,978.33 from ¥45,944,554.08 year-on-year[21] - The company reported a significant increase in revenue for the first half of 2021, with a year-over-year growth of 25%[83] - The company reported a total revenue of 25,891.36 million RMB at the beginning of the period, with an additional 26,200.06 million RMB occupied by related parties during the reporting period[95] Revenue and Sales - The company's operating revenue for the first half of the year was ¥618,965,830.22, representing a 10.45% increase compared to ¥560,393,210.73 in the same period last year[21] - The company achieved a revenue of CNY 618.97 million in the reporting period, representing a year-on-year increase of 10.45% compared to CNY 560.39 million[45] - The company reported a revenue of approximately 358.17 million for the first half of 2021, with a net profit of around 66.14 million, reflecting a significant performance in the sports goods sector[58] - The company generated approximately 34.80 million in revenue from retail sales of footwear and apparel, showcasing its market presence[58] - The company reported a total revenue of 1.5 billion, representing a year-over-year growth of 15%[85] - The company provided guidance for the next quarter, expecting revenue to reach between 1.6 billion and 1.7 billion, indicating a potential growth of 7% to 13%[85] Cash Flow and Assets - The net cash flow from operating activities was negative at -¥256,279,362.47, compared to -¥277,408,621.08 in the previous year, indicating an improvement[21] - Cash and cash equivalents at the end of the period amounted to ¥650,866,096.06, representing 23.24% of total assets, an increase of 0.89% compared to the previous year[48] - Accounts receivable reached ¥643,670,163.81, accounting for 22.99% of total assets, with a significant increase of 89.93% year-over-year, primarily due to cash received from sales[48] - Total assets at the end of the period were ¥2,800,000,000, with a notable increase in cash and cash equivalents and accounts receivable[48] - The total assets as of June 30, 2021, were ¥2,800,341,305.85, down 5.7% from ¥2,970,465,721.79 at the end of 2020[153] Investments and R&D - The company is investing in new technology development, allocating $50 million towards R&D initiatives aimed at enhancing product features[83] - Research and development expenses for the first half of 2021 were CNY 9,811,746.06, compared to CNY 12,319,315.92 in the previous year, indicating a decrease of approximately 20.4%[159] - The company has over 322 valid patents, including 20 invention patents, 205 utility model patents, and 97 design patents, emphasizing its commitment to technological innovation[43] Market Strategy and Position - The company focuses on children's footwear and apparel, with a product range of 200-300 styles for shoes and 200-300 styles for clothing each season[25] - The sales strategy combines both online and offline channels, collaborating with platforms like Tmall and JD.com to enhance market reach[32] - The company is leveraging new retail strategies, including live streaming and online-offline integration, to boost sales and enhance customer engagement[39] - The children's apparel market in China is projected to reach CNY 475.6 billion by 2025, indicating a robust growth trajectory driven by rising income and consumption patterns[33] Corporate Governance and Compliance - The report period was not audited, and the board of directors confirmed the accuracy and completeness of the financial report[5] - The company received a negative internal control audit report from Tianjian Accounting Firm, indicating significant deficiencies in internal controls[73] - The company is committed to improving its internal control systems to prevent future violations[73] - The company has not faced any administrative penalties due to environmental issues[77] Shareholder and Stock Information - The company plans to reduce its shareholding by no more than 20,755,693 shares, which is approximately 4.40% of the total share capital, within the next 12 months[80] - The company will continue to reduce its holdings by no more than 18,827,133 shares in the next 12 months[82] - The company reported a total of 165.30 million shares of restricted stock to be repurchased and canceled due to not meeting the lifting conditions[70] - The total number of common stock shareholders reached 29,642 by the end of the reporting period[116] Risks and Challenges - The company is facing risks from macroeconomic fluctuations that could impact consumer spending on apparel, potentially affecting revenue and profitability[60] - The company has identified a risk related to changes in consumer demographics and purchasing behaviors, particularly the trend towards younger consumers[62] - The company incurred a total of RMB 94.67 million in subsidies for dealers due to the pandemic, which reduced the current period's revenue[98] Miscellaneous - The company has established a diverse sales network with 18 primary distributors and 342 franchise stores, covering all 31 provinces and regions in China[38] - The company has shifted its focus to e-commerce, aiming to capture a larger market share in online sales due to changing consumer behaviors and preferences[62] - The company has not reported any new non-operating fund occupation from controlling shareholders during the reporting period[95]