Financial Performance - The company's operating revenue for the first half of 2022 reached CNY 1,254,121,827.70, representing a 37.68% increase compared to CNY 910,895,086.70 in the same period last year[21]. - Net profit attributable to shareholders of the listed company was CNY 188,253,319.40, a 74.02% increase from CNY 108,181,780.47 in the previous year[21]. - The net cash flow from operating activities significantly increased to CNY 148,268,094.79, up 1,713.41% from CNY 8,176,207.48 in the same period last year[21]. - Basic earnings per share rose to CNY 0.49, a 75.29% increase compared to CNY 0.28 in the previous year[22]. - The weighted average return on net assets increased to 7.81%, up 3.19 percentage points from 4.62% in the same period last year[22]. - The company achieved a sales revenue of 1.254 billion yuan, an increase of 38% compared to the same period in 2021[32]. - The net profit reached 188 million yuan, up 74% year-on-year[32]. - The company reported a total comprehensive income of ¥216,134,579.33, compared to ¥81,401,615.70 in the same period last year[154]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,159,973,844.48, reflecting a 5.24% increase from CNY 3,952,806,263.92 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company increased to CNY 2,420,310,839.08, a 4.56% rise from CNY 2,314,743,678.50 at the end of the previous year[21]. - Total liabilities were reported at RMB 1,739,663,005.40, compared to RMB 1,638,034,567.16 at the beginning of the period, indicating an increase of approximately 6.19%[146]. - The company's equity attributable to shareholders rose to RMB 2,420,310,839.08 from RMB 2,314,743,678.50, reflecting an increase of about 4.55%[146]. Sales and Market Performance - The sock business generated approximately 811 million yuan in sales, a year-on-year growth of 20%, with a net profit of about 133.44 million yuan, increasing by 37%[32]. - The seamless business reported sales of approximately 443 million yuan, a significant increase of 87%, and a net profit of about 54.82 million yuan, up 413%[32]. - The sales revenue from the self-owned brand JSC grew significantly, achieving approximately CNY 25 million, which is over 300% higher than the same period last year[33]. Research and Development - Research and development expenses increased by 24.14% to CNY 32.71 million, reflecting the company's commitment to enhancing its R&D capabilities[38]. - The company focuses on enhancing its core competitiveness through "high quality, low cost, and short delivery time" by improving production management in five key areas: planning, material control, digitalization, lean management, and process optimization[32]. Environmental Compliance - The company has not experienced any environmental pollution incidents or received administrative penalties during the reporting period, indicating a strong commitment to environmental protection[58]. - The company’s wastewater discharge standards include a COD limit of 200 mg/L and a total nitrogen limit of 30 mg/L, with specific monitoring in place[63]. - The company has implemented measures to ensure that all emissions are within the prescribed limits, including a pH range of 6-9 for wastewater[63]. - The company has established a total discharge limit of 69.3 tons/year for COD at its subsidiary, indicating a focus on compliance with environmental regulations[63]. Shareholder Information - The company repurchased 11,679,700 shares, accounting for 2.97% of the total share capital, with a total expenditure of approximately CNY 120.03 million[34]. - The controlling shareholder, Mr. Zhang Maoyi, plans to reduce his shareholding by up to 15,717,706 shares, accounting for 4% of the total share capital[124]. - As of August 29, 2022, Mr. Zhang has cumulatively reduced his holdings by 6,263,300 shares through centralized bidding, which is 1.64% of the total share capital[124]. Financial Independence and Governance - The company has not provided any financial assistance or compensation to its controlling shareholders or related parties, maintaining financial independence[116]. - There were no significant lawsuits or arbitration matters during the reporting period, indicating a stable legal environment for the company[118]. - The company has maintained a good integrity status, with no overdue debts or unfulfilled commitments reported[118]. Future Outlook - The company plans to enhance design capabilities and expand into domestic markets to counteract weak consumer demand due to international instability[48]. - The company aims to expand its market presence and enhance product offerings in the textile sector[180].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 531,710,938.94, representing a year-on-year increase of 28.54%[5] - The net profit attributable to shareholders for the same period was CNY 82,484,918.50, reflecting a significant increase of 74.10% compared to the previous year[5] - The net profit after deducting non-recurring gains and losses was CNY 66,458,009.29, which is an increase of 40.73% year-on-year[6] - Basic and diluted earnings per share were both CNY 0.21, up by 75.00% year-on-year[6] - Total operating revenue for Q1 2022 reached ¥531,710,938.94, a 28.6% increase from ¥413,642,314.05 in Q1 2021[24] - Net profit for Q1 2022 was ¥82,464,010.60, up 74.1% from ¥47,370,647.63 in Q1 2021[25] - Operating profit for Q1 2022 was ¥90,872,940.15, an increase of 72.0% compared to ¥52,861,927.74 in Q1 2021[25] - Basic earnings per share for Q1 2022 were ¥0.21, an increase from ¥0.12 in Q1 2021[26] Cash Flow - The net cash flow from operating activities reached CNY 74,475,981.94, marking a substantial increase of 130.49% compared to the same period last year[6] - Cash inflow from operating activities in Q1 2022 was ¥660,986,984.13, compared to ¥506,944,506.53 in Q1 2021, reflecting a 30.3% increase[28] - The net cash flow from operating activities was $74,475,981.94, an increase from $32,311,463.53 in the previous year, representing a growth of approximately 130.4%[29] - The total cash outflow from operating activities amounted to $586,511,002.19, compared to $474,633,043.00 in the same period last year, indicating a rise of about 23.5%[29] - The net cash flow from financing activities was $70,506,484.60, a decline from $140,510,211.62 in the previous year, showing a decrease of about 50%[29] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,980,639,729.05, a slight increase of 0.70% from the end of the previous year[6] - As of March 31, 2022, the company had total assets of RMB 3,980,639,729.05, an increase from RMB 3,952,806,263.92 at the end of 2021[19] - The total liabilities as of Q1 2022 were ¥1,650,085,578.78, slightly up from ¥1,638,034,567.16 in Q1 2021[22] - The total equity attributable to shareholders reached ¥2,330,547,039.91 in Q1 2022, compared to ¥2,314,743,678.50 in Q1 2021[22] Expenses - The company reported a significant increase in sales expenses by 40.77%, primarily due to higher consulting service fees[9] - Financial expenses surged by 518.40%, attributed to increased borrowings and corresponding interest expenses[9] - Research and development expenses for Q1 2022 amounted to ¥14,705,653.53, up 19.1% from ¥12,335,767.45 in Q1 2021[24] - The total cost of operations for Q1 2022 was ¥464,377,986.42, up from ¥363,324,731.92 in Q1 2021, indicating a 28.0% increase[24] Shareholder Activities - The company repurchased a total of 9,793,300 shares, representing 2.49% of the total share capital, with a total expenditure of RMB 99,768,476.92[16] - The second phase of the employee stock ownership plan had 134 participants, with 5,696,209 shares sold, generating a total income of RMB 66,652,000[15] - Zhang Maoyi reduced his holdings by 7,800,000 shares, accounting for 1.99% of the total share capital, as part of a larger plan to sell up to 15,717,706 shares[17] - The company plans to continue its stock repurchase program with a budget of between RMB 100 million and RMB 200 million, with a maximum repurchase price of RMB 12.82 per share[16] Inventory and Receivables - The total inventory as of March 31, 2022, was RMB 708,517,833.03, up from RMB 664,744,234.24 at the end of 2021, indicating a growth of approximately 6.57%[20] - The company reported a decrease in accounts receivable from RMB 438,420,356.35 at the end of 2021 to RMB 389,429,620.63 as of March 31, 2022[20] Other Income and Expenses - The company received substantial government subsidies, leading to a 545.98% increase in other income[9] - Other comprehensive income for Q1 2022 showed a loss of ¥34,670,461.10, compared to a gain of ¥4,268,301.52 in Q1 2021[26] - The cash paid for taxes was $12,762,744.88, down from $20,194,492.85, indicating a decrease of approximately 36.5%[29] - The cash inflow from investment activities was $12,150,458.65, compared to $35,552,009.76 in the previous year, reflecting a decline of about 65.8%[29]

Financial Performance - In 2021, the company achieved operating revenue of CNY 2,051,681,253.62, representing a year-on-year increase of 29.65% compared to CNY 1,582,449,086.77 in 2020[25] - The net profit attributable to shareholders of the listed company was CNY 167,229,486.86, a significant turnaround from a net loss of CNY 527,727,666.75 in 2020, marking an increase of 131.69%[25] - The cash flow from operating activities for 2021 was CNY 270,617,334.40, reflecting a slight increase of 4.30% from CNY 259,450,931.01 in 2020[25] - Basic earnings per share rose to 0.43 yuan, up 132.82% from -1.31 yuan in 2020[27] - The weighted average return on equity increased to 7.12%, up 26.93 percentage points from -19.81% in 2020[27] - The company achieved a record sales revenue of 2,051.68 million yuan in 2021, representing a year-on-year growth of 29.65%[36] - Net profit for 2021 was 167.23 million yuan, a significant increase of 131.69% compared to the previous year[36] - The company’s net profit, excluding the impact of goodwill impairment and stock incentive expenses, would have been 212.89 million yuan[36] Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.15 per share (including tax) based on a total share base of 383,149,349 shares after accounting for repurchased shares[9] - The company implemented a cash dividend policy, committing to distribute at least 20% of the available profit to shareholders, although no dividends were distributed for the year 2020 due to a net loss[123] Operational Efficiency - The company recorded goodwill impairment losses of 9.13 million yuan in 2021, alongside employee stock incentive expenses of 36.53 million yuan[36] - The company focused on optimizing customer relationships and adjusting product prices due to rising raw material costs[36] - The sock business showed stable growth, with strong customer demand during the reporting period[36] - The company achieved a production capacity utilization rate of 99.50% for Jiangshan Knitting, indicating efficient operations[58] - The company increased the number of seamless knitting machines from 173 to 309 during the reporting period, significantly boosting production capacity[38] Strategic Initiatives - The company is committed to becoming a global leader in integrated supply chain manufacturing for knitted sportswear[2] - The company plans to enhance its seamless business by developing new projects with existing customers and acquiring new clients[36] - Key projects for 2022 include the development of production bases in Guizhou and Vietnam, aiming to contribute significantly to profits[86] - The company plans to strengthen data analysis capabilities to control operational risks and improve financial oversight[88] Risk Management - The company has outlined potential risks in its future development strategy, advising investors to be aware of investment risks[10] - The company is addressing potential risks such as currency fluctuations and rising labor costs through strategies like forward foreign exchange contracts and automation projects[89] Environmental Compliance - The company has not experienced any environmental pollution incidents during the reporting period and has not received any administrative penalties related to environmental protection[135] - The company has established a comprehensive monitoring system for wastewater and air emissions to ensure compliance with environmental standards[144] - The company has implemented measures to ensure that all emissions are within regulatory limits, with no exceedance reported in 2021[144] - The company has received environmental impact assessment approvals for multiple projects, ensuring compliance with environmental protection laws[161] Governance and Compliance - The company held 5 shareholder meetings, 7 board meetings, and 5 supervisory board meetings during the reporting period, ensuring compliance with legal and procedural requirements[93] - The company has implemented strict insider information management practices, ensuring compliance with relevant regulations[92] - The company has established a comprehensive internal control system to safeguard shareholder rights and ensure sustainable development[92] - The company has conducted a self-assessment of its governance practices, reporting no issues requiring rectification[134] Employee Engagement - The company’s employee training plan for 2022 focuses on new hires, skill enhancement, and general courses based on a needs assessment conducted prior[121] - The employee stock ownership plan is designed to align employee interests with company performance, enhancing motivation and retention[129] Market Expansion - The company plans to expand its market presence through strategic acquisitions and partnerships in the upcoming fiscal year[102] - The company is exploring new market segments to diversify its revenue streams and reduce dependency on existing markets[102] Research and Development - R&D expenses grew by 27.88% year-on-year to CNY 58,813,310.13, reflecting the company's commitment to product development[52] - Research and development efforts are being prioritized to innovate and improve product offerings[102]

Financial Performance - The company's operating revenue for Q3 2021 was ¥610,340,739.06, representing a year-on-year increase of 44.50%[5] - The net profit attributable to shareholders for the same period was ¥72,952,607.12, a significant increase of 2,163.62% compared to the previous year[5] - The basic earnings per share for Q3 2021 was ¥0.20, while the diluted earnings per share was ¥0.19, reflecting increases of 242.86% and 228.57% respectively year-on-year[6] - Net profit for the third quarter of 2021 was ¥180,929,971.09, compared to ¥57,991,233.30 in the same quarter of 2020, reflecting a significant increase of approximately 211.5%[28] - The total comprehensive income attributable to the parent company for Q3 2021 was CNY 174,544,652.37, compared to CNY 28,538,033.98 in Q3 2020, showing a significant increase[29] - Basic earnings per share for Q3 2021 was CNY 0.48, up from CNY 0.14 in Q3 2020, indicating improved profitability[29] - The company's total comprehensive income for the first three quarters of 2021 was CNY 174,340,235.87, compared to CNY 28,224,396.43 in the same period of 2020, highlighting a strong performance improvement[29] Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,873,247,796.83, marking a 16.20% increase from the end of the previous year[6] - The total assets as of the end of the third quarter of 2021 were ¥3,873,247,796.83, compared to ¥3,333,216,417.58 at the end of the third quarter of 2020, showing an increase of approximately 16.2%[24] - Total liabilities for the third quarter of 2021 were ¥1,558,570,440.53, up from ¥947,862,243.43 in the same quarter of 2020, representing an increase of about 64.4%[23] - The company's total equity as of the end of the third quarter of 2021 was ¥2,314,677,356.30, compared to ¥2,385,354,174.15 in the previous year, indicating a decrease of approximately 2.9%[24] Cash Flow - Cash flow from operating activities showed a net outflow of ¥52,023,848.37, a decrease of 76.00% year-on-year[6] - Cash inflow from operating activities for the first three quarters of 2021 was CNY 1,504,683,097.98, compared to CNY 1,323,773,342.17 in the same period of 2020, reflecting a growth of approximately 13.7%[33] - Net cash flow from operating activities for the first three quarters of 2021 was CNY 52,023,848.37, down from CNY 216,789,954.19 in the previous year, indicating a decline in operational cash generation[33] - Net cash flow from investing activities for the first three quarters of 2021 was -CNY 231,183,054.41, compared to -CNY 60,818,718.42 in the same period of 2020, showing increased cash outflow for investments[34] - Net cash flow from financing activities for the first three quarters of 2021 was CNY 252,072,540.93, a recovery from -CNY 5,898,268.52 in the previous year, indicating improved financing conditions[34] - The company received CNY 1,368,740,962.68 in cash from borrowings during the first three quarters of 2021, compared to CNY 840,657,632.00 in the same period of 2020, reflecting increased leverage[34] - The company reported a cash inflow of CNY 111,801,218.55 from tax refunds in the first three quarters of 2021, compared to CNY 92,959,239.99 in the previous year, indicating better tax recovery[33] Shareholder Information - The total number of common shareholders at the end of the reporting period was 9,786[13] - The largest shareholder, Zhang Maoyi, holds 147,462,262 shares, representing 37.53% of the total shares[13] - The company has implemented a second employee stock ownership plan, holding 14,863,209 shares, which accounts for 3.57% of the total share capital[16] - As of September 30, 2021, the company has repurchased a total of 4,854,200 shares, representing 1.24% of the total share capital, with a total expenditure of approximately RMB 45 million[19] - The company plans to repurchase shares with a total amount not less than RMB 100 million and not exceeding RMB 200 million, at a price not exceeding RMB 12.82 per share[18] - The highest transaction price for repurchased shares was RMB 10.376 per share, while the lowest was RMB 8.490 per share[19] - The company has a total of 130 employees participating in the second employee stock ownership plan as of September 30, 2021[17] - The company’s board approved the employee stock ownership plan on July 29, 2020, and the plan's lock-up period is 12 months[15] - The company’s major shareholders include both individual and institutional investors, with significant stakes held by domestic natural persons[13] Operational Metrics - The company reported a significant increase in accounts receivable by 53.61% due to sales growth, leading to higher receivables at the end of the period[10] - The company experienced a 192.56% increase in prepayments, attributed to higher material payments during the reporting period[10] - The company reported a significant increase in accounts receivable, which rose to ¥485,167,135.95 from ¥315,851,306.32, reflecting a growth of about 53.5%[22] - The company’s inventory increased to ¥558,437,821.07 from ¥430,423,052.44, representing a rise of approximately 29.7%[22] - The company's financial expenses for the third quarter of 2021 were ¥18,592,351.64, compared to ¥14,883,955.50 in the same quarter of 2020, indicating an increase of about 25.5%[28] - Research and development expenses for the third quarter of 2021 amounted to ¥42,016,089.63, up from ¥32,697,489.79 in the previous year, marking an increase of about 28.5%[28] - Total operating costs for the first three quarters of 2021 were ¥1,323,014,977.45, up from ¥1,100,983,694.56 in 2020, indicating an increase of about 20.2%[27]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 910,895,086.70, representing a 25.10% increase compared to CNY 728,125,227.84 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 108,181,780.47, a significant increase of 96.40% from CNY 55,082,042.54 year-on-year[20]. - The net profit after deducting non-recurring gains and losses reached CNY 99,968,037.52, up 155.76% from CNY 39,086,461.01 in the previous year[20]. - The basic earnings per share increased to CNY 0.28, doubling from CNY 0.14 in the same period last year, while diluted earnings per share rose to CNY 0.27, a 92.86% increase[22]. - The weighted average return on net assets improved to 4.62%, an increase of 2.83 percentage points compared to 1.79% in the previous year[22]. - The company achieved a sales revenue of 910 million yuan, an increase of 25.1% compared to the same period in 2020, and a net profit of 108 million yuan, up 96.4% year-on-year[34]. Cash Flow and Assets - The net cash flow from operating activities decreased significantly by 94.15% to CNY 8,176,207.48, compared to CNY 139,858,571.28 in the same period last year, primarily due to increased raw material inventory and shipping delays[20]. - The total assets of the company at the end of the reporting period were CNY 3,665,855,149.95, reflecting a 9.98% increase from CNY 3,333,216,417.58 at the end of the previous year[21]. - The company's net assets attributable to shareholders decreased by 4.97% to CNY 2,266,659,105.04 from CNY 2,385,142,728.26 at the end of the previous year[21]. - The company's inventory increased by 32.69% year-on-year, reaching approximately ¥571.12 million, influenced by rising raw material prices and shipping delays[45]. - The total current assets as of June 30, 2021, amounted to ¥1,599,023,841.03, an increase from ¥1,344,135,524.15 on December 31, 2020, representing a growth of approximately 18.9%[149]. Operational Developments - The sock business generated approximately 674 million yuan in sales revenue, a year-on-year growth of 27.6%, with a net profit of about 97.5 million yuan, reflecting a 114% increase[35]. - The seamless business reported sales revenue of approximately 237 million yuan, an 18.6% increase year-on-year, and a net profit of about 10.68 million yuan, up 11.5%[35]. - The company plans to expand its seamless production capacity by relocating some weaving machines from Shaoxing to Guizhou and has purchased 50 new seamless knitting machines[36]. - A new company, Guizhou Jiansheng Sportswear Co., Ltd., was established to add 1,000 sock machines, with the first phase of 440 machines expected to be operational in Q3[36]. Environmental Responsibility - The company emphasizes environmental responsibility, with a focus on reducing emissions and adhering to pollution discharge standards[65]. - The company has not experienced any environmental pollution incidents or received administrative penalties during the reporting period[65]. - The company’s wastewater discharge includes pollutants such as ammonia nitrogen and COD, with a total annual discharge limit of 39.96 tons for COD[67]. - The company’s environmental protection measures have been effective, with no exceedances in pollutant discharge limits reported[73]. - The company has established a wastewater treatment facility with a designed capacity of 800 m³/d, compliant with GB4287-2012 standards for textile dyeing and finishing industrial wastewater discharge[94]. Shareholder and Equity Information - The company completed a share buyback amounting to approximately ¥200 million in May 2021, with an additional buyback plan of up to ¥200 million currently in progress[39]. - The company completed the transfer of 14,863,209 shares to the second employee stock ownership plan at a price of 4.00 CNY per share, representing 3.57% of the total share capital[63]. - The company reported a total equity of CNY 2,348,479,737.64 at the end of the reporting period[184]. - The company distributed CNY 140,522,599.00 to shareholders during the reporting period[186]. - The company has a total of 14,863,209 shares held by the second phase employee stock ownership plan, accounting for 3.78%[142]. Risks and Challenges - The company is facing operational risks due to the ongoing impact of COVID-19, particularly in communication with clients and local employee recruitment in Vietnam[52]. - Rising labor costs in Vietnam are expected to equalize with inland China within 3-5 years, prompting the company to invest in automation projects to enhance productivity[51]. - The company is actively mitigating exchange rate risks through hedging strategies and expanding overseas production capacity to diversify risks[50]. Strategic Initiatives - The company has established partnerships with brands such as PUMA, DECATHLON, and UNIQLO, focusing on ODM and OEM services[30]. - The company has a global production base layout, with significant investments in Vietnam to leverage local labor cost advantages and tax policies[32]. - The company is actively optimizing its customer base, adjusting prices due to rising raw material costs, and has begun collaborations with new clients like HM and Li Ning[36].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥910,895,086.70, representing a 25.10% increase compared to ¥728,125,227.84 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2021 was ¥108,181,780.47, a significant increase of 96.40% from ¥55,082,042.54 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥99,968,037.52, which is a 155.76% increase compared to ¥39,086,461.01 in the same period last year[20]. - The basic earnings per share for the first half of 2021 was ¥0.28, doubling from ¥0.14 in the same period last year[21]. - The company achieved a sales revenue of 910 million yuan, an increase of 25.1% compared to the same period in 2020, and a net profit of 108 million yuan, up 96.4% year-on-year[34]. - Revenue increased by 25.10% year-on-year, reaching approximately ¥910.90 million, driven by an increase in customer orders[40]. - Operating costs rose by 14.66% to approximately ¥658.10 million, in line with revenue growth[40]. - R&D expenses grew by 26.10% to approximately ¥26.35 million, reflecting increased investment in research and development[41]. - The total profit for the first half of 2021 was ¥120,791,923.03, a 92.7% increase from ¥62,680,198.51 in the same period of 2020[157]. - The company reported a total comprehensive income of ¥81,401,615.70 for the first half of 2021, compared to ¥53,494,141.99 in the same period of 2020[158]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,665,855,149.95, reflecting a 9.98% increase from ¥3,333,216,417.58 at the end of the previous year[20]. - Total assets reached approximately ¥3.67 billion, with overseas assets accounting for 34.91% of total assets, approximately ¥1.28 billion[46]. - Current liabilities rose to CNY 1,193,595,482.74, compared to CNY 741,656,920.16, indicating an increase of about 61%[149]. - Total liabilities reached CNY 1,399,091,935.07, compared to CNY 947,862,243.43, indicating an increase of around 47%[150]. - The company reported a net loss of CNY 51,044,433.10, an improvement from a loss of CNY 157,502,730.40 in the previous period[154]. - The total current assets amounted to CNY 821,044,919.98, up from CNY 548,516,088.52, reflecting an increase of approximately 49%[153]. Cash Flow - The net cash flow from operating activities decreased significantly by 94.15% to ¥8,176,207.48, down from ¥139,858,571.28 in the previous year[20]. - The net cash flow from operating activities for the first half of 2021 was 8,176,207.48 RMB, a significant decrease of 94.1% compared to 139,858,571.28 RMB in the same period of 2020[163]. - Total cash inflow from operating activities increased to 995,018,492.63 RMB, up 17.0% from 850,494,406.86 RMB year-on-year[163]. - Cash outflow from operating activities rose to 986,842,285.15 RMB, an increase of 38.7% compared to 710,635,835.58 RMB in the previous year[163]. - The net cash flow from investing activities was -179,796,648.84 RMB, worsening from -59,481,948.07 RMB in the first half of 2020[163]. - Cash inflow from financing activities reached 916,436,858.24 RMB, a 94.0% increase from 472,019,204.18 RMB in the same period last year[163]. Inventory and Production - The company increased its raw material inventory by approximately ¥82 million due to rising prices, impacting cash flow[21]. - The company faced delays in shipping finished products due to maritime factors, resulting in an increase in inventory of approximately ¥45 million[21]. - The sock business generated approximately 674 million yuan in sales revenue, a year-on-year growth of 27.6%, with a net profit of about 97.5 million yuan, increasing by 114%[34]. - The seamless business reported sales revenue of approximately 273 million yuan, a growth of 18.6%, and a net profit of about 10.68 million yuan, up 11.5%[34]. - The company is expanding its seamless production capacity in Guizhou, with 50 new seamless knitting machines purchased during the reporting period[36]. Shareholder and Equity Information - The company completed a share buyback amounting to approximately ¥200 million in May 2021, with an additional buyback plan of ¥100 million to ¥200 million currently in progress[38]. - The company repurchased 14,863,209 shares at a price of 4.00 CNY per share, representing 3.57% of the total share capital[62]. - The total number of ordinary shareholders at the end of the reporting period was 10,267[138]. - The top shareholder, Zhang Maoyi, holds 147,462,262 shares, representing 37.53% of the total shares, with 74,290,000 shares pledged[140]. - The company distributed 140,522,599.00 RMB to shareholders, impacting retained earnings negatively[175]. Environmental Compliance - The company has not experienced any environmental pollution incidents or received administrative penalties during the reporting period[64]. - The company adheres to the pollution discharge standards, with no instances of exceeding emission limits reported[73]. - The company is committed to environmental protection, with no environmental pollution accidents reported during the reporting period[64]. - The company has established a wastewater treatment facility with a designed daily processing capacity of 1,000 tons since 2012[85]. - The company has implemented emergency response plans for environmental incidents, ensuring staff are trained in emergency measures[104]. Governance and Compliance - The company is committed to improving its governance structure, as evidenced by recent changes in its board and management personnel[58]. - The company has not experienced any violations of laws or regulations by its directors, supervisors, or senior management[127]. - The company has not issued any non-standard audit opinions in the previous annual report[126]. - The company has committed to preventing any direct or indirect competition with its subsidiaries[125]. - The company has taken measures to manage wastewater, waste gas, noise, and solid waste in accordance with environmental regulations[119].

Financial Performance - Operating revenue rose by 11.26% to CNY 413,642,314.05 from CNY 371,765,886.04 in the same period last year[6] - Net profit attributable to shareholders decreased by 13.49% to CNY 47,377,660.10 compared to CNY 54,765,921.41 in the previous year[6] - Basic and diluted earnings per share decreased by 14.29% to CNY 0.12 from CNY 0.14 in the same period last year[6] - The company reported a net loss of CNY 158,150,235.52 for the period, compared to a loss of CNY 157,502,730.40 in the previous period[25] - Total operating revenue for Q1 2021 was ¥413,642,314.05, an increase of 11.3% compared to ¥371,765,886.04 in Q1 2020[26] - Net profit for Q1 2021 was ¥47,370,647.63, a decrease of 13.2% from ¥54,565,512.11 in Q1 2020[27] - The company reported a total comprehensive income of ¥51,638,949.15 for Q1 2021, compared to ¥56,318,963.23 in Q1 2020[28] Cash Flow - Cash flow from operating activities dropped by 56.27% to CNY 32,311,463.53 from CNY 73,895,875.19 year-on-year[6] - The net cash flow from operating activities decreased by 56.27% from CNY 73,895,875.19 to CNY 32,311,463.53, due to higher material payments[14] - The company reported a net cash outflow from operating activities of ¥1,588,763.06 in Q1 2021, compared to a net outflow of ¥373,261.81 in Q1 2020[31] - Operating cash inflow for Q1 2021 totaled CNY 506.94 million, a decrease from CNY 566.07 million in Q1 2020[34] - Total cash and cash equivalents at the end of Q1 2021 reached CNY 301.16 million, down from CNY 368.62 million at the end of Q1 2020[35] - The company experienced a net increase in cash and cash equivalents of CNY 84.83 million in Q1 2021, compared to an increase of CNY 208.99 million in Q1 2020[35] Assets and Liabilities - Total assets increased by 5.67% to CNY 3,522,248,269.52 compared to the end of the previous year[6] - Current liabilities rose to CNY 1,028,393,494.85, up from CNY 741,656,920.16, indicating an increase of about 38.78%[20] - Total liabilities reached CNY 1,233,594,320.54, up from CNY 947,862,243.43, indicating an increase of approximately 30.2%[20] - The company's equity attributable to shareholders decreased to CNY 2,288,449,515.56 from CNY 2,385,142,728.26, a decline of about 4.06%[20] - Non-current assets totaled CNY 2,033,953,134.98, compared to CNY 1,989,080,893.43, reflecting a growth of approximately 2.93%[19] Shareholder Information - The total number of shareholders reached 10,578 at the end of the reporting period[11] - The largest shareholder, Zhang Maoyi, holds 35.42% of the shares, with 73,460,000 shares pledged[11] Expenses - The company's sales expenses increased by 40.42% from CNY 10,116,407.86 to CNY 14,205,379.13, primarily due to higher consulting service fees[14] - Research and development expenses for Q1 2021 were ¥12,335,767.45, an increase from ¥11,619,330.83 in Q1 2020[26] Financial Assets and Investments - The company's trading financial assets decreased by 84.03% from CNY 4,626,517.50 to CNY 738,785.75 due to the fair value of unfulfilled forward foreign exchange contracts[13] - Investment income for Q1 2021 was ¥2,702,832.50, compared to a loss of ¥472,480.37 in Q1 2020[26] Other Financial Metrics - The weighted average return on equity increased by 0.21 percentage points to 1.99%[6] - The company reported a foreign exchange loss of ¥3,887,731.75 in Q1 2021, compared to a loss of ¥2,211,199.75 in Q1 2020[27]

Financial Performance - In 2020, the company achieved operating revenue of CNY 1,582,449,086.77, a decrease of 11.12% compared to CNY 1,780,368,877.71 in 2019[25] - The net profit attributable to shareholders was CNY -527,727,666.75, representing a decline of 293.09% from a profit of CNY 273,312,959.07 in the previous year[25] - The company's total assets decreased by 11.41% to CNY 3,333,216,417.58 at the end of 2020, down from CNY 3,762,635,799.12 in 2019[26] - The net cash flow from operating activities was CNY 259,450,931.01, a decrease of 26.05% compared to CNY 350,866,739.71 in 2019[25] - The company's net assets attributable to shareholders decreased by 21.76% to CNY 2,385,142,728.26 from CNY 3,048,721,188.23 in 2019[26] - Basic earnings per share for 2020 was -1.31 CNY, a decrease of 292.65% compared to 0.68 CNY in 2019[27] - The weighted average return on equity dropped to -19.81% in 2020, down 29.14 percentage points from 9.33% in 2019[27] - Total revenue for the fourth quarter of 2020 was 431,935,313.17 CNY, with a net profit attributable to shareholders of -586,032,537.57 CNY[29] - The company reported a cash flow from operating activities of 42,660,976.81 CNY in the fourth quarter of 2020[29] - The total revenue from overseas markets is CNY 1,355,951,784.59, reflecting a decrease of 11.31% compared to the previous year[58] - The company achieved a sales revenue of 1.582 billion yuan in 2020, a year-on-year decrease of 11.12%[52] - The net profit for the year was -527.73 million yuan, representing a decline of 293.09% compared to the previous year[52] Business Operations - The company operates primarily in the ODM and OEM business model, serving major brands such as PUMA, UNIQLO, and NIKE[37] - The total production capacity includes approximately 300 million pairs of cotton socks and over 22 million seamless garments annually[37] - The sock business generated sales revenue of 1.06 billion yuan, down 4.01% year-on-year, while the seamless business saw a revenue drop of 25.24% to 479 million yuan[47] - The company plans to continue focusing on the production of socks and seamless apparel while enhancing its vertical integration in the supply chain[51] - The company aims to accelerate the development of new customers, particularly in the seamless product segment, and expand investment in its Vietnam base[51] - The company plans to expand its seamless apparel production capacity by adding 1,200 million units annually, with an investment in 96 new seamless knitting machines in 2021[90] - The company aims to produce 60 million pairs of mid-to-high-end cotton socks and 3,500 tons of elastic yarns in 2021[91] - The company is targeting a production goal of 200 million pairs of cotton socks from its Vietnam facility in 2021[92] Profit Distribution and Shareholder Rights - The company plans not to distribute profits for 2020 due to the negative distributable profits of CNY -157,502,730.40 at the end of the year[7] - The company has established a cash dividend policy, committing to distribute at least 20% of the annual distributable profit to shareholders[98] - For the year 2020, the company did not propose any profit distribution due to a negative amount of distributable profit at the end of the period[100] - The company has a clear policy for profit distribution, prioritizing cash dividends while allowing for stock dividends under certain conditions[98] - The company aims to protect the rights of minority investors through its profit distribution policies[98] - The company’s board has approved the profit distribution plan, which is subject to shareholder approval[100] Environmental Responsibility - The company has not experienced any environmental pollution incidents during the reporting period and has not received any administrative penalties related to environmental protection[134] - The company has implemented strict monitoring of emissions, with a focus on maintaining compliance with environmental standards[141] - The company is committed to enhancing its environmental responsibility and sustainability practices in line with government policies[134] - The company has established a comprehensive environmental management system to ensure adherence to pollution discharge standards[134] - The company’s wastewater treatment meets the first-level B standard of the GB 18918-2002 for urban wastewater treatment plants[154] - The company has implemented odor control measures at the wastewater treatment station, achieving compliance with local standards for H2S and ammonia gas emissions[155] - The company has established a rainwater collection system to treat surface rainwater alongside wastewater, ensuring compliance with discharge standards[158] Shareholder Structure - The largest shareholder, Zhang Maoyi, holds 147,462,262 shares, representing 35.42% of the total shares[192] - The second-largest shareholder, Xia Kecai, owns 25,212,736 shares, accounting for 6.06% of the total shares[192] - Zhejiang Jiansheng Group Co., Ltd. holds 14,863,209 shares, which is 3.57% of the total shares[192] - Hangzhou Junda Investment Management Co., Ltd. has 14,100,000 shares, representing 3.39% of the total shares[193] - Hu Tianxing owns 8,640,000 shares, making up 2.08% of the total shares[193] - The total number of ordinary shareholders increased from 10,578 to 11,433 during the reporting period[190] - Zhang Maoyi is also the actual controller of the company, serving as the chairman and president[199] - There are no changes in the controlling shareholder or actual controller during the reporting period[196]

Financial Performance - Net profit attributable to shareholders decreased by 74.38% to CNY 58,304,870.85 for the first nine months of the year[5] - Operating revenue for the first nine months was CNY 1,150,513,773.60, down 12.30% year-on-year[5] - Basic earnings per share dropped by 75% to CNY 0.14[6] - The weighted average return on equity decreased by 5.87 percentage points to 1.91%[6] - Total operating revenue for Q3 2020 was CNY 422,388,545.76, a decrease of 12.9% compared to CNY 484,924,694.56 in Q3 2019[23] - Net profit for the first three quarters of 2020 was CNY 1,150,513,773.60, down 12.3% from CNY 1,311,891,778.79 in the same period of 2019[23] - Net profit for Q3 2020 was approximately ¥3.17 million, down from ¥83.49 million in Q3 2019, representing a decline of 96.2%[26] - Total comprehensive income for Q3 2020 was approximately -¥25.27 million, compared to ¥118.68 million in Q3 2019, highlighting a substantial loss in overall financial performance[26] Assets and Liabilities - Total assets increased by 3.40% to CNY 3,890,672,199.71 compared to the end of the previous year[5] - Total liabilities as of September 30, 2020, were CNY 1,131,027,157.60, compared to CNY 901,818,414.42 at the end of 2019, reflecting a significant increase[21] - Cash and cash equivalents increased to CNY 356,483,952.38 from CNY 92,873,890.06 at the end of 2019, indicating improved liquidity[19] - The company’s total equity as of September 30, 2020, was CNY 2,396,743,432.83, a slight decrease from CNY 2,407,203,866.26 at the end of 2019[21] Cash Flow - Cash flow from operating activities decreased by 28.41% to CNY 216,789,954.19 compared to the same period last year[5] - Net cash flow from operating activities for the first nine months was CNY 216,789,954.19, down from CNY 302,829,605.96 in the previous year, indicating a decrease of about 28.4%[32] - Cash inflow from operating activities totaled CNY 1,323,773,342.17, while cash outflow was CNY 1,106,983,387.98, resulting in a net cash flow of CNY 216,789,954.19[32] - Cash flow from investing activities showed a net outflow of CNY 60,818,718.42, compared to a net outflow of CNY 139,414,540.13 in the same period last year[33] - Cash flow from financing activities resulted in a net outflow of CNY 5,898,268.52, a significant improvement from a net outflow of CNY 198,623,483.85 in the previous year[33] Shareholder Information - The total number of shareholders reached 10,871 by the end of the reporting period[9] - The largest shareholder, Zhang Maoyi, holds 35.42% of the shares, with 73,460,000 shares pledged[9] Investments and Expenses - Non-recurring gains and losses for the first nine months amounted to CNY 24,738,949.01, primarily from government subsidies[6] - Research and development expenses for Q3 2020 were approximately ¥648.63 thousand, indicating a focus on innovation despite overall revenue decline[28] - The company incurred credit impairment losses of approximately ¥2.42 million in Q3 2020, compared to a gain of ¥98.13 thousand in Q3 2019[28] Other Financial Metrics - Cash and cash equivalents increased by 69.98% to ¥529,866,354.61 from ¥311,717,919.01 due to an increase in investment bank deposits[11] - Other receivables decreased by 43.85% to ¥16,913,023.02 from ¥30,119,843.71, attributed to a reduction in export tax refunds[11] - Investment properties rose by 43.44% to ¥54,741,107.53 from ¥38,161,883.15 due to new rental properties added from Hangzhou Jiansheng Company[11] - Employee compensation payable decreased by 54.03% to ¥40,279,958.88 from ¥87,620,169.69 due to the release of year-end bonuses[12] - Deferred income tax liabilities decreased by 37.21% to ¥1,939,759.49 from ¥3,089,463.94 due to changes in the fair value of financial assets[12] Company Strategy - The company has not disclosed any new product developments or market expansion strategies in this report[5] - The company repurchased 14,863,209 shares at ¥4.00 per share, representing 3.57% of total shares outstanding, as part of the employee stock ownership plan[13] - The company plans to implement a second employee stock ownership plan with a lock-up period of 12 months starting from September 18, 2020[13]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥728,125,227.84, a decrease of 11.95% compared to ¥826,967,084.23 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2020 was ¥55,082,042.54, down 61.72% from ¥143,900,414.73 in the previous year[18]. - The basic earnings per share for the first half of 2020 was ¥0.14, a decline of 61.11% from ¥0.36 in the same period last year[19]. - The diluted earnings per share also stood at ¥0.14, reflecting the same percentage decrease of 61.11% compared to the previous year[19]. - The weighted average return on net assets decreased by 3.21 percentage points to 1.79% from 5% in the previous year[20]. - The total assets at the end of the reporting period were ¥3,682,539,760.98, down 2.13% from ¥3,762,635,799.12 at the end of the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥39,086,461.01, a decrease of 67.17% from ¥119,042,944.30 in the same period last year[18]. - The company's sales revenue for the first half of 2020 was 728.125 million RMB, a decrease of 11.95% compared to the same period in 2019[39]. - Net profit for the reporting period was 55.08 million RMB, down 61.72% year-on-year[39]. - The cotton socks business maintained sales revenue of 528 million RMB, while seamless business revenue decreased by 33% to 200 million RMB[39]. Cash Flow and Financial Position - The net cash flow from operating activities increased by 16.72% to ¥139,858,571.28, compared to ¥119,826,295.63 in the same period last year[18]. - Operating cash flow increased by 16.72% to 139.86 million RMB, primarily due to increased government subsidies[39]. - The total cash and cash equivalents at the end of the period was CNY 235,653,352.00, slightly up from CNY 232,284,281.91 at the end of the previous year[124]. - The company received CNY 415,821,248.20 in cash from borrowings, an increase of 19.7% compared to CNY 347,158,363.14 in the first half of 2019[124]. - The company paid CNY 149,141,351.32 in dividends and interest, significantly higher than CNY 30,319,072.77 in the same period last year[124]. Market and Industry Context - The textile and apparel export from China saw a decline of 19.4% in the first half of 2020, reflecting the impact of the COVID-19 pandemic on the industry[24]. - The retail sales of textile and apparel in China dropped by 19.6% in the first half of 2020, indicating a challenging domestic market environment[24]. - The company aims to continuously develop high-quality clients while solidifying existing customer relationships in its four major markets: Japan, Europe, Oceania, and the United States[30]. Strategic Initiatives and Innovations - The company has established three major production bases in Vietnam, enhancing its competitive edge in the knitting and seamless garment manufacturing sector[28]. - The company launched a new fashion sportswear brand, JSC, targeting modern female consumers with a focus on style and comfort[29]. - The company holds 21 invention patents and 85 utility model patents, showcasing its strong technical capabilities and innovation[29]. - The company has established long-term strategic partnerships with international brands, with some collaborations lasting over ten years[30]. Environmental and Social Responsibility - The company has initiated HIGG FEM self-assessment and verification work to promote sustainable development across its factories[34]. - The company donated a total of 400,000 RMB to various organizations for COVID-19 pandemic prevention and poverty alleviation efforts during the reporting period[61]. - The company is committed to continuing its poverty alleviation efforts in line with government initiatives[64]. Corporate Governance and Compliance - The company did not report any significant risks or non-operational fund occupation by controlling shareholders[5]. - The company has committed to not transferring shares obtained from the transaction for 36 months after the issuance completion[50]. - The company has maintained good integrity, with no instances of failing to repay large debts or fulfill commitments[53]. - The company has not faced any major litigation or arbitration matters during the reporting period[53]. - The company has renewed the appointment of Tianjian Accounting Firm for the 2020 annual audit, with a one-year term[52]. Shareholder Information - Total number of common shareholders at the end of the reporting period was 12,670[95]. - The largest shareholder, Zhang Maoyi, holds 147,462,262 shares, representing 35.42% of total shares[97]. - The second-largest shareholder, Xia Kecai, holds 25,212,736 shares, representing 6.06% of total shares[97]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest three shareholders alone accounting for over 45%[97]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern assumption, with no significant doubts regarding the company's ability to continue operations for the next 12 months[143]. - The financial statements comply with the requirements of the enterprise accounting standards, accurately reflecting the company's financial position and operating results[145]. - The company recognizes financial assets and liabilities based on their classification, including those measured at amortized cost and fair value[155]. - The company applies foreign currency transaction translation methods, ensuring accurate reporting of foreign currency transactions and financial statements[154].