Financial Performance - Revenue for 2022 reached 6,385,451,424.00 yuan, a 37.82% increase compared to 2021[18] - Net profit attributable to shareholders in 2022 was 817,400,223.93 yuan, up 41.88% year-over-year[18] - Operating cash flow for 2022 was 1,111,136,117.23 yuan, a 33.92% increase from 2021[18] - Total assets at the end of 2022 were 5,778,071,824.19 yuan, a 24.71% increase from the previous year[18] - Basic earnings per share for 2022 were 2.90 yuan, a 1.05% increase compared to 2021[19] - Weighted average return on equity (ROE) for 2022 was 25.95%, an increase of 3.70 percentage points from 2021[20] - Q4 2022 revenue was 2,423,377,392.04 yuan, the highest among all quarters[22] - Q4 2022 net profit attributable to shareholders was 322,085,066.75 yuan, the highest quarterly profit[22] - Revenue increased by 37.82% year-on-year to 6.385 billion RMB, with main business revenue reaching 6.362 billion RMB, up 37.69%[27] - Net profit attributable to shareholders of the listed company increased by 7.89% year-on-year to 817 million yuan in 2022[32] - Sales gross margin rose to 69.70% in 2022, up from 66.46% in 2021, driven by increased online direct sales and a focus on key products[32] - Accounts receivable turnover rate improved significantly to 53.04 times in 2022, up from 21.88 times in 2021, due to increased revenue and reduced average accounts receivable balance[32] - Total retail sales of consumer goods in China decreased by 0.2% year-on-year in 2022, with cosmetics sales dropping by 4.5% to 393.6 billion yuan[33] - Revenue increased by 37.82% to RMB 6,385,451,424.00 compared to the same period last year[54] - Net cash flow from operating activities increased by 33.92% to RMB 1,111,136,117.23[54] - The company's total operating revenue in the daily chemical industry reached 6.36 billion yuan, a year-on-year increase of 37.69%[57] - Online sales accounted for 90.98% of total revenue, reaching 5.79 billion yuan, a year-on-year increase of 47.50%[59] - The revenue of the skincare category (including cleansing) was 5.48 billion yuan, a year-on-year increase of 38.56%[57] - The revenue of the beauty and cosmetics category increased by 21.70% year-on-year to 752.46 million yuan[57] - The revenue of the haircare category surged by 509.93% year-on-year to 125.66 million yuan[57] - The company's production volume of daily chemical products increased by 42.44% year-on-year to 314.06 million units[60] - The cost of raw materials in the daily chemical industry increased by 29.97% year-on-year to 1.27 billion yuan[61] - The revenue from the Hong Kong and overseas markets increased by 73.16% year-on-year to 66.96 million yuan[57] - The gross profit margin of the skincare category increased by 9.16 percentage points year-on-year to 70.51%[57] - The gross profit margin of the beauty and cosmetics category increased by 11.73 percentage points year-on-year to 66.55%[57] - Top 5 customers accounted for 798.31 million yuan, representing 12.55% of total annual sales[64] - Top 5 suppliers accounted for 393.05 million yuan, representing 20.57% of total annual purchases[65] - Sales expenses increased by 794.30 million yuan, a 39.88% growth compared to the previous year[66] - R&D expenses increased by 51.43 million yuan, a 67.15% growth compared to the previous year[66] - Total R&D investment was 128.01 million yuan, accounting for 2.00% of total revenue[67] - Net cash flow from operating activities increased by 33.92% to 1,111.14 million yuan[70] - Cash received from sales of goods and services increased by 38.17% to 7,088.47 million yuan[70] - Cash and cash equivalents increased by 32.20% to 3,161.00 million yuan, representing 54.71% of total assets[72] - The company's cosmetics category sales totaled 3.936 billion yuan, a year-on-year decrease of 4.5%[97] Dividend and Share Transfer - The company plans to distribute a cash dividend of RMB 8.7 per 10 shares and transfer 4 shares per 10 shares from capital reserve, totaling RMB 246,661,938.03 in cash dividends and 113,407,788 shares transferred[3] - The total number of shares as of December 31, 2022, is 283,519,469[3] - The company maintains a consistent dividend and share transfer ratio regardless of changes in total share capital due to convertible bond conversions[3] - Cash dividend amount (including tax) is RMB 246,661,938.03, accounting for 30.18% of the net profit attributable to ordinary shareholders of the company in the consolidated financial statements[141] - The company distributed a cash dividend of RMB 172,868,570.76 for the 2021 fiscal year[139] - The company's cash dividend policy requires at least 20% of distributable profits to be allocated annually[139] Corporate Governance and Compliance - The company has issued a standard unqualified audit report by Tianjian Certified Public Accountants[2] - The company has no non-operational fund occupation by controlling shareholders or related parties[4] - The company has no violations in decision-making procedures for external guarantees[4] - All directors have confirmed the authenticity, accuracy, and completeness of the annual report[2] - The company has a comprehensive governance structure with detailed disclosures in the annual report[7] - The company's 2021 annual report and summary were approved at the 2021 Annual General Meeting held on May 12, 2022[111] - The 2021 profit distribution and capital reserve to share capital plan were approved at the 2021 Annual General Meeting[111] - The 2022 Restricted Stock Incentive Plan (Draft) and its summary were approved at the first interim shareholders' meeting in 2022 held on July 25, 2022[111] - The implementation and assessment management measures for the 2022 Restricted Stock Incentive Plan were approved at the first interim shareholders' meeting in 2022[111] - The company held 6 board meetings in 2022, all attended by directors[128] - The company's audit committee held 4 meetings in 2022, reviewing annual reports, financial statements, and other key matters[131] - The company's compensation and assessment committee held 3 meetings in 2022[131] - The company's board meetings in 2022 reviewed and approved the 2021 annual report, 2022 semi-annual report, and 2022 third quarter report[127] - The company implemented a 2022 restricted stock incentive plan, with relevant proposals approved in board meetings[127] - The company used idle raised funds for cash management, with relevant proposals approved in board meetings[126] - The company's directors attended all 6 board meetings in 2022, with no absences[128] - The company's independent directors attended all board meetings via teleconference in 2022[128] - The company's board meetings in 2022 were all held via a combination of on-site and teleconference methods[130] - The company held three meetings of the Remuneration and Assessment Committee in 2022[132] - The company approved the 2022 strategic business plan during the second meeting of the Strategic Committee[132] - The company's internal control audit was conducted by Tianjian Accounting Firm (Special General Partnership) for a fee of RMB 200,000[178] - The company's financial report audit was conducted by Tianjian Accounting Firm (Special General Partnership) for a fee of RMB 1.4 million[178] - The company's financial report audit has been continuously conducted by Tianjian Accounting Firm for 12 years[178] - The company's financial report audit services were provided by Yin Zhibin for 3 consecutive years and Wang Xiaokang for 5 consecutive years[178] - The company did not have any major litigation or arbitration matters during the reporting period[179] - The company and its controlling shareholders and actual controllers maintained good credit status during the reporting period[180] - The company's daily associated transactions in 2022 did not exceed the initial estimates[181] Risk Management - The company has detailed risk descriptions in the "Management Discussion and Analysis" section[5] - The company faces risks from intensified industry competition, including potential underperformance in brand and channel strategies[106] - The company faces risks in new brand incubation and new category cultivation, including potential underperformance in marketing investment and operational models[107] Subsidiaries and Investments - The company has multiple subsidiaries, including Proya Europe SARL and Proya Trade Co., Ltd[10] - Other equity instrument investments increased by 90 million RMB, reaching 146.4024 million RMB at the end of the period[26] - The company's investment in other equity instruments increased from 564.02 million yuan to 1.46 billion yuan, with an additional purchase of 900 million yuan during the year[93] - The company's total investment in equity and joint ventures amounted to 3.66 billion yuan, with a net book value of 2.85 billion yuan[92] - The company's subsidiary, Zhejiang Meiligu E-commerce Co., Ltd., achieved a net profit of 82.38 million yuan[96] Brand Performance - Online direct sales accounted for 70.40% of main business revenue, totaling 4.478 billion RMB, a 59.79% increase year-on-year[28] - The brand "Caitang" saw a significant revenue increase of 132.04% year-on-year, reaching 572 million RMB[29] - The brand "OR" experienced a remarkable revenue growth of 509.93% year-on-year, totaling 126 million RMB[29] - Skincare products (including cleansing) contributed 86.20% of main business revenue, amounting to 5.484 billion RMB, a 38.56% increase year-on-year[31] - Beauty and makeup products revenue grew by 21.70% year-on-year to 752 million RMB, accounting for 11.82% of main business revenue[31] - The brand "Yuefuti" achieved a revenue growth of 188.27% year-on-year, reaching 187 million RMB[29] - The company's core brands include "Proya," "Cata," "Off&Relax," and "Yuefuti," covering skincare, makeup, and haircare segments[34] - Proya brand ranked first in the essence category and fourth in the mask and eye cream categories on Tmall in 2022[39] - Cata's "Three-Color Contour Palette" ranked first in the highlighter category on Tmall in 2022, and its "Primer" ranked first in the primer category[39] - Off&Relax focused on scalp health, launching star products like "OR Onsen Refreshing Shampoo" and "OR Onsen Lightweight Hair Mask"[40] - Yuefuti targeted young oily skin consumers with key products like "Cleansing Honey" and "Multi-Acid Mud Mask"[40] - Proya's Tmall flagship store achieved the 4th rank in Tmall beauty category and 1st in domestic brands for 2022 annual transaction amount[44] - Proya ranked 3rd in Douyin beauty category and 1st in domestic brands for 2022 annual transaction amount[45] - Proya ranked 10th in JD beauty category and 1st in domestic brands for 2022 annual transaction amount[47] - Proya's Tmall flagship store ranked 5th in Tmall beauty category and 1st in domestic brands during 618 and Double 11 events in 2022[44] - Proya ranked 1st in Douyin beauty domestic brands during 618 and Double 11 events in 2022[45] - Proya ranked 1st in JD beauty domestic brands during 618 and Double 11 events in 2022[47] - Proya conducted "Early C Late A" pop-up events in 8 cities and 9 stores to enhance offline customer engagement[48] Research and Development - R&D expenses increased by 67.15% year-on-year in 2022, with an absolute increase of 51.43 million yuan, and the R&D expense ratio of the parent company reached 4.31%[32] - The company applied for 51 new patents and was granted 32 patents, bringing the total number of patents to 225[50] - The company released two group standards and has participated in the formulation of 14 national standards, 3 industry standards, and 14 group standards[50] - The company has 229 R&D personnel, representing 7.21% of the total workforce[68] - The company will continue to advance the development pipeline of new technologies and raw materials, leveraging cross-industry advanced technologies such as computational biology, genomics, and proteomics[105] Production and Logistics - The company expanded production capacity by adding new production lines to meet the demand for major promotions like 618 and Double 11[52] - The company optimized its logistics system and was awarded the "2021-2022 China Logistics Industry Golden Ant Star Award"[53] - The Huzhou skincare factory has a design capacity of 300 million units with a utilization rate of 86.67%, and an additional 101.18 million units are under construction, expected to be completed by December 2024[84] - The Huzhou makeup factory has a design capacity of 40 million units with a utilization rate of 25.06%[84] - The company's major raw material, active ingredients, saw a price increase of 42.15%, with a procurement volume of 754 tons[86] - The company's gas consumption increased by 38.67%, with a procurement volume of 368,936 cubic meters[87] Environmental and Social Responsibility - The company invested RMB 3,445,400 in environmental protection during the reporting period[148] - The company obtained ISO14001:2015 environmental management system certification, valid until February 14, 2025[150] - The company installed a Multi Vision COD online automatic monitoring system to ensure wastewater discharge meets Class A standards[150] - The company added a new VOC gas and dust treatment device at its Huzhou production base (cosmetics factory)[150] - The company implemented a 10-ton expansion and efficiency improvement for the air flotation pool in the wastewater treatment station[150] - The company added a new high-precision VOCs gas collection device, effectively reducing unorganized gas emissions[150] - The company reduced wastewater discharge by 4,400 tons and COD emissions by 0.17 tons at its Huzhou production base[151] - The company saved 565.9 MWh of electricity and 4,600 cubic meters of water at its Huzhou production base[151] - The company reduced carbon emissions by 322.73 tons of CO2 at its Huzhou production base[151] - The company implemented 14 clean production schemes at its Huzhou production base, saving 10.8 million yuan in raw material consumption[151] - The company reduced carbon emissions by 4,255 tons of CO2 equivalent through various measures including clean energy use and green packaging[152] - The company invested 1.4346 million yuan in community welfare and charitable donations, benefiting 9,087 people[154] - The company donated 1.1 million yuan for poverty alleviation and rural revitalization projects, benefiting 8,085 people[156] - The company prioritized suppliers with lower carbon emissions in its procurement process[152] - The company conducted energy-saving technical renovations and increased the proportion of clean energy use[152] - The company optimized its warehousing and logistics system to reduce energy consumption[152] Shareholder and Management Information - Chairman Hou Juncheng's shareholding increased by 27,905,926 shares to 97,670,741 shares due to capital reserve to share capital[115] - Director and General Manager Fang Yuyou's shareholding increased by 9,424,627 shares to 45,772,470 shares due to capital reserve to share capital and personal fund needs[115] - Vice President Jin Yanhua's shareholding increased by 161,992 shares to 216,973 shares due to capital reserve to share capital and the 2022 Restricted Stock Incentive Plan[115] - CFO Wang Li's shareholding increased by 192,929 shares to 225,251 shares due to capital reserve to share capital and the 2022 Restricted Stock Incentive Plan[115] - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period was 6.664 million yuan[116] - The company's Chairman, Hou Juncheng, has been serving as the Executive Director since September 2007 and as the Chairman since August 2012[117] - Fang Yuyou, the company's General Manager, has been in his position since August 2012 and also serves as the General Manager of Meiligu[117] - Hou Yumeng, the company's Vice President, has been in his role since September 2021 and also serves as the Executive Director and General Manager of Hangzhou Caitang[117] - Ma Dongming, an Independent Director, has been serving since May 2021 and also holds independent director positions at several other companies[117] - Ge Weijun, another Independent Director, has been in his role since September 2021 and is a professor at Fudan University Law School[117] - Jin Yanhua, the company's Vice President and General Manager of the Supply Chain Management Center, has been in his position since August 2012[119] - Wang Li, the company's Vice President, Board Secretary, and Financial Controller, has been in her role since April 2023[119] - Jin Yanhua previously served as the Executive Partner at Peixian Deyi Network Technology Partnership until its dissolution in February 2022[120] - Hou Juncheng serves as Executive Director and General Manager of Proya (Hainan) since January 2021[121] -

Financial Performance - The company's operating revenue for Q1 2023 reached ¥1,621,514,039.25, representing a year-on-year increase of 29.27%[4] - Net profit attributable to shareholders was ¥208,032,832.00, reflecting a growth of 31.32% compared to the previous year[4] - The net profit after deducting non-recurring gains and losses was ¥197,980,896.41, which is an increase of 34.93% year-on-year[4] - Net profit for Q1 2023 was ¥222,164,505.51, representing a 31.1% increase compared to ¥169,398,719.61 in Q1 2022[17] - Total profit for Q1 2023 was ¥280,369,180.43, a 36% increase from ¥206,155,175.85 in Q1 2022[17] Cash Flow - The net cash flow from operating activities amounted to ¥409,773,960.44, up by 19.78% from the same period last year[4] - Cash flow from operating activities generated ¥409,773,960.44, an increase from ¥342,107,055.69 in the previous year[19] - Net cash flow from investment activities was -$48.91 million, compared to -$39.74 million in the previous period, indicating a decline of approximately 23.5%[20] - The net increase in cash and cash equivalents for the period was $359.87 million, compared to $255.61 million in the previous period, showing an increase of approximately 40.7%[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥6,156,154,781.38, a 6.54% increase from the end of the previous year[5] - Current assets totaled RMB 4,506,222,614.61, up from RMB 4,146,995,913.54, indicating an increase of about 8.66% year-over-year[13] - Total liabilities stood at RMB 2,368,578,716.18, compared to RMB 2,240,848,493.90, which is an increase of approximately 5.70%[15] - The company's equity attributable to shareholders reached RMB 3,761,234,781.67, up from RMB 3,524,488,659.96, representing an increase of around 6.73%[15] Shareholder Information - The company reported a total of 13,080 common shareholders at the end of the reporting period[10] Profitability Metrics - The weighted average return on equity increased to 5.69%, up by 0.33 percentage points year-on-year[5] - The gross profit margin increased year-on-year, contributing to a gross profit increase of 33.97%[8] - The basic earnings per share decreased by 7.59% to ¥0.73[4] - Earnings per share (EPS) for Q1 2023 was ¥0.73, slightly down from ¥0.79 in Q1 2022[18] Expenses - Research and development expenses rose to ¥51,874,237.80, compared to ¥29,984,297.07 in Q1 2022, reflecting a 73.1% increase[16] - Sales expenses increased to ¥700,922,277.91, up from ¥531,525,291.08, marking a 31.8% rise year-over-year[16] Investment Activities - The company reported a net investment loss of ¥1,024,160.51, an improvement from a loss of ¥2,057,259.04 in Q1 2022[16] - The cash flow from investment activities showed a significant outflow, highlighting the company's ongoing investment strategy despite the negative cash flow[20] - The company reported a total cash inflow from investment activities of $338.44 million, indicating active investment management[20] Financing Activities - Total cash inflow from financing activities was $100 million, consistent with the previous period's inflow of $100.25 million[20] - Cash outflow from financing activities totaled $101.30 million, down from $146.90 million in the previous period, reflecting a decrease of about 30.9%[20] - Cash received from loans was $100 million, unchanged from the previous period, indicating stable financing conditions[20] Accounting Standards - The company did not apply new accounting standards or interpretations for the first time in 2023[20]

| 证券代码：603605 | 证券简称：珀莱雅 | 公告编号：2023-009 | | --- | --- | --- | | 债券代码：113634 | 债券简称：珀莱转债 | | 珀莱雅化妆品股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 问题征集方式：投资者可于 2023 年 04 月 20 日(星期四)至 04 月 26 日(星期 三)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过珀莱雅 化妆品股份有限公司（以下简称"公司"）投资者关系邮箱（proyazq@proya.com） 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 公司将于 2023 年 04 月 21 日在上海证券交易所网站（www.sse.com.cn）披 露公司《2022 年年度报告》，为便于广大投资者更全面深入地了解公司 2022 年 度经营成果、财务状况，公司计划于 2023 年 04 月 27 日（星期四）15:00-16:30 举行 202 ...

Financial Performance - The company's revenue for Q3 2022 reached ¥1,336,130,787.67, representing a year-over-year increase of 22.07%[4] - Net profit attributable to shareholders for Q3 2022 was ¥198,375,641.64, up 43.55% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was ¥196,100,724.25, an increase of 44.07% year-over-year[4] - The company reported a 31.53% increase in revenue for the year-to-date period compared to the same period last year, driven by growth in online channels and the rapid growth of secondary brand lines[9] - Total operating revenue for the first three quarters of 2022 reached CNY 3,962,074,031.96, a 31.5% increase from CNY 3,012,251,856.14 in the same period of 2021[19] - Net profit attributable to shareholders of the parent company was CNY 495,315,157.18, up 36.0% from CNY 364,296,789.10 year-over-year[20] - Operating profit for the third quarter was CNY 621,820,983.54, a 46.0% increase from CNY 426,889,912.32 in the same quarter last year[20] - The total comprehensive income for the third quarter of 2022 was CNY 503,842,474.90, an increase from CNY 346,420,802.25 in the same period of 2021, representing a growth of approximately 45.5%[21] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥5,461,758,028.57, reflecting a 17.89% increase from the end of the previous year[5] - Total assets as of September 30, 2022, reached approximately ¥5.46 billion, an increase from ¥4.63 billion at the end of 2021, representing a growth of about 17.9%[14] - Current assets totaled approximately ¥3.88 billion, compared to ¥3.16 billion in the previous year, indicating a year-over-year increase of approximately 22.8%[16] - Total liabilities rose to CNY 2,265,000,671.76, up 29.7% from CNY 1,746,209,355.96 in the previous year[18] - The company's total equity reached CNY 3,196,757,356.81, an increase of 10.8% from CNY 2,886,840,427.07 year-over-year[18] - The company's total liabilities and equity amounted to CNY 5,461,758,028.57, compared to CNY 4,633,049,783.03 in the previous year, reflecting a growth of 17.8%[18] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥771,873,333.67, showing a significant increase of 57.37%[5] - Net cash flow from operating activities for the first three quarters of 2022 was CNY 771,873,333.67, up from CNY 490,488,496.76 in the same period of 2021, reflecting an increase of approximately 57.5%[22] - Cash inflow from operating activities totaled CNY 4,520,279,161.23, compared to CNY 3,450,037,382.22 in the previous year, marking a rise of about 31%[22] - Cash outflow from operating activities was CNY 3,748,405,827.56, which is an increase from CNY 2,959,548,885.46 in the same period last year, representing a growth of approximately 26.7%[22] - The net cash flow from investing activities was CNY -202,225,451.75, an improvement from CNY -258,560,641.26 in the previous year, indicating a reduction in cash outflow of about 21.8%[23] - The net cash flow from financing activities was CNY -58,693,824.95, compared to CNY -251,747,305.60 in the same period last year, showing a significant improvement of approximately 76.7%[23] - The cash and cash equivalents at the end of the period amounted to CNY 2,888,924,676.75, up from CNY 1,381,297,933.00 at the end of the previous year, reflecting an increase of about 109.5%[23] Operational Highlights - The company’s subsidiary, Ningbo Caitang Cosmetics Co., Ltd., achieved profitability during the reporting period, contributing to the overall net profit growth[9] - The company plans to continue expanding its online sales channels and enhance its product offerings to sustain growth momentum in the future[9] - Research and development expenses increased to CNY 95,367,183.34, representing an increase of 81.7% compared to CNY 52,455,578.02 in the previous year[19] Other Financial Metrics - The weighted average return on equity for Q3 2022 was 6.59%, an increase of 1.17 percentage points compared to the same period last year[5] - Basic earnings per share for Q3 2022 was ¥0.71, while diluted earnings per share was ¥0.70[5] - Basic earnings per share for the third quarter of 2022 was CNY 1.76, slightly down from CNY 1.82 in the previous year, indicating a decrease of about 3.3%[21] - The company reported a credit impairment loss of CNY 2,180,709.67, compared to a loss of CNY -2,144,694.51 in the previous year[20] - The company reported a foreign exchange loss of CNY -364,148.31, which is an improvement from CNY -733,371.78 in the same period last year, indicating a reduction in losses of approximately 50%[23]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥2,625,943,244.29, representing a 36.93% increase compared to ¥1,917,718,497.60 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2022 was ¥296,939,515.54, a 31.33% increase from ¥226,101,313.86 in the previous year[17]. - The net cash flow from operating activities reached ¥713,782,130.38, marking a significant increase of 168.16% compared to ¥266,175,578.82 in the same period last year[17]. - The company's revenue for the first half of 2022 reached 2.626 billion yuan, representing a year-on-year growth of 36.93%[28]. - Main business revenue was 2.616 billion yuan, with a year-on-year increase of 36.87%[28]. - The company reported non-recurring gains of 16.04 million yuan after tax adjustments[21]. - The company achieved the top ranking in Tmall's beauty category for domestic brands during the 618 shopping festival, with a significant increase in sales through online channels[42]. - The company reported a significant increase in sales expenses, which reached ¥1,116,921,650.63, up 38.3% from ¥807,204,631.76 in the same period last year[106]. - The total comprehensive income for the first half of 2022 was ¥308,307,248.83, compared to ¥208,252,898.05 in the same period of 2021[108]. Assets and Liabilities - The company's total assets as of the end of the reporting period were ¥5,071,158,684.26, a 9.46% increase from ¥4,633,049,783.03 at the end of the previous year[17]. - The total liabilities reached ¥2,089,592,037.97, up from ¥1,746,209,355.96, reflecting a growth of 19.7%[102]. - The company's total liabilities increased to ¥1,722,025,286.14, up 22.1% from ¥1,410,216,223.74 year-on-year[105]. - The company's cash and cash equivalents increased to 2,699,953,453.09 RMB from 2,391,048,249.81 RMB, indicating a growth in liquidity[100]. - The accounts receivable turnover rate increased by 195.63%, driven by a 36.93% growth in revenue and a 46.62% reduction in accounts receivable[19]. - Accounts receivable decreased by 46.62% to 74,004,643.37, representing 1.46% of total assets[44]. - The company’s total assets at the beginning of the current period were CNY 2,391,535,435.94, indicating a stable asset base[123]. Research and Development - The company maintains a strong R&D focus, collaborating with institutions like the Chinese Academy of Sciences and Zhejiang University[25]. - The R&D expense ratio rose to 2.33% in H1 2022, with R&D expenses increasing by CNY 29.7 million, reflecting a commitment to innovation[33]. - Research and development expenses surged by 94.66% to ¥61,066,694.07, compared to ¥31,371,344.46 in the previous year, reflecting the company's increased investment in R&D[42]. - A total of 12 new national invention patents were granted, and 17 new invention patent applications were submitted during the reporting period, indicating a strong focus on innovation[39]. Marketing and Sales Strategy - The online sales channel accounted for 66.73% of total revenue, showing a significant increase from 60.66% in the previous year[29]. - The brand "Polaire" generated 2.128 billion yuan in revenue, up 43.12% year-on-year, making up 81.36% of main business revenue[30]. - The brand "Caitang" saw a remarkable growth of 110.57%, contributing 0.232 billion yuan to the revenue[30]. - The company operates a dual-channel sales model, with a primary focus on online sales through platforms like Tmall and Douyin[23]. - The company implemented refined marketing strategies focusing on social issues like gender equality and mental health, enhancing brand image among younger consumers[36]. Cost Management - The sales gross margin improved to 68.12% in H1 2022, compared to 66.46% in H1 2021, driven by an increase in online revenue and a focus on major product strategies[33]. - The sales expense ratio decreased to 42.53% in H1 2022 from 42.98% in H1 2021, indicating improved cost management[33]. - The management expenses decreased to 4.84% of revenue, down from 6.06% in the previous year, indicating improved cost management[42]. Environmental and Social Responsibility - The company has invested in high-precision VOCs gas collection devices to effectively reduce unorganized gas emissions and improve air quality[58]. - Over the first half of the year, employees submitted over 100 suggestions that led to reduced energy consumption and waste rates, enhancing raw material usage efficiency and lowering carbon emissions[58]. - The company is committed to achieving carbon neutrality and has taken measures to reduce carbon emissions, although specific results were not disclosed[59]. - The company completed a "Million Employee Safety Training" initiative to enhance safety awareness and emergency response capabilities among all employees[59]. Shareholder and Corporate Governance - The company has made commitments regarding share transfer limits for directors and senior management, ensuring compliance with regulations[62]. - The company will take specific measures to stabilize its stock price if necessary, and will publicly explain any failure to do so[66]. - The company will ensure that any new directors or senior management adhere to commitments made at the time of its IPO[66]. - The company has established a commitment to not misuse its controlling position and to avoid infringing on the company's interests[69]. Compliance and Legal Matters - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[75]. - The integrity status of the company and its controlling shareholders remains good during the reporting period[76]. - The company has not received any penalties or faced any legal violations during the reporting period[76]. - The company has no significant litigation or arbitration matters during the reporting period[75]. Accounting Policies - The accounting policies comply with the requirements of enterprise accounting standards[137]. - The company applies the accounting treatment for business combinations under common control and non-common control, adjusting capital reserves and retained earnings as necessary[140]. - The company recognizes revenue based on the performance obligations identified in contracts, either over time or at a point in time, depending on specific criteria[179]. - The company assesses the expected credit loss for other receivables, which is applicable[152].

Financial Performance - The company's operating revenue for 2021 was approximately CNY 4.63 billion, representing a year-over-year increase of 23.47% compared to CNY 3.75 billion in 2020[17]. - The net profit attributable to shareholders for 2021 was approximately CNY 576.12 million, an increase of 21.03% from CNY 476.01 million in 2020[17]. - The net cash flow from operating activities for 2021 was approximately CNY 829.67 million, showing a significant increase of 150.24% compared to CNY 331.55 million in 2020[17]. - The company's total assets at the end of 2021 were approximately CNY 4.63 billion, reflecting a year-over-year growth of 27.39% from CNY 3.64 billion in 2020[17]. - The basic earnings per share for 2021 was CNY 2.87, which is a 21.10% increase from CNY 2.37 in 2020[18]. - The company reported a weighted average return on equity of 22.25% for 2021, an increase of 0.43 percentage points from 21.82% in 2020[18]. - The company reported a total investment in joint ventures of 184,630,004.86 million RMB, with a book value of 169,959,536.27 million RMB after impairment provisions[97]. - The company reported a significant increase in online revenue, which grew by 49.54% year-on-year[68]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in Q4 2023, representing a 25% year-over-year growth[120]. Dividend and Capital Increase - The company plans to distribute a cash dividend of 8.60 RMB per 10 shares and to increase capital by 4 shares for every 10 shares held, resulting in a total cash dividend payout of approximately 172.87 million RMB and a capital increase of 80.40 million shares based on the total share capital as of December 31, 2021[3]. - The company plans to distribute cash dividends of ¥144,804,186.00, which is ¥7.20 per 10 shares, to shareholders[148]. - The company aims to maintain a stable profit distribution policy, with cash dividends not less than 20% of the distributable profits for the year[148]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the authenticity and completeness of the financial report[2]. - The internal control audit report issued by Tianjian Accounting Firm confirmed effective financial reporting internal controls as of December 31, 2021[154]. - The company has established a governance structure that complies with relevant laws and regulations, enhancing operational standards and investor relations[108]. - The company did not receive any penalties from securities regulatory authorities in the past three years[125]. - The company has not reported any violations or penalties against its directors, supervisors, senior management, or controlling shareholders during the reporting period[186]. Risk Management - The company has detailed the risks it may face in the "Management Discussion and Analysis" section of the report, indicating a proactive approach to risk management[5]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute a commitment to investors, highlighting the importance of investment risk awareness[4]. - The company faces industry competition risks, including intensified brand competition and marketing expenditure control challenges[107]. - There are risks associated with new brand incubation and product category development, with significant marketing investments and performance expectations[107]. - The company is exposed to uncertainties from the COVID-19 pandemic and international geopolitical issues affecting the supply chain[107]. Strategic Focus and Development - The company has outlined its future development discussions and analyses, indicating a strategic focus on growth and market expansion[5]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[1]. - The company plans to enhance its multi-brand matrix in 2022, focusing on skincare, makeup, and hair care products to meet diverse consumer needs[102]. - The company aims to strengthen its R&D capabilities by establishing international research laboratories and collaborating with leading biotech and life science institutions[104]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach, with a budget of 500 million yuan allocated for this purpose[116]. Marketing and Sales Strategy - The company plans to enhance its brand image and marketing efforts, leading to an increase in promotional expenses to 36.12% of sales[32]. - The marketing strategy includes social responsibility initiatives and collaborations with notable entities, such as a partnership with China's space program, enhancing brand image and consumer engagement[40]. - The company has successfully increased self-broadcast sales on Douyin and Kuaishou, surpassing influencer sales, and has optimized product structures to improve profitability[41]. - A new marketing strategy has been implemented, aiming to increase brand awareness by 40% through digital channels[116]. - The company has established partnerships with three major retailers to enhance distribution channels, expected to boost sales by 15%[116]. Research and Development - The company's R&D expense ratio was 1.65%, with R&D expenses increasing by 4.38 million yuan year-on-year[32]. - The company obtained 19 new national invention patents during the reporting period, bringing the total to 92 authorized invention patents, 19 utility model patents, and 90 design patents, totaling 201 patents[44]. - Research and development investments have increased by 30%, focusing on innovative technologies in cosmetics[116]. - The company is focused on product development based on industry big data and consumer insights, aiming to exceed consumer expectations through scientific formulation and optimal raw material selection[106]. Operational Efficiency - The organization strategy focuses on a digital middle platform to enhance operational efficiency and ROI, promoting a self-driven process[42]. - The company is enhancing its supply chain through automation and digitalization, with the construction of a new intelligent logistics center and multiple distribution warehouses across the country[45]. - The accounts receivable turnover rate improved to 21.88 times, driven by a 23.47% increase in revenue and a 51.34% reduction in accounts receivable[32]. - The company has implemented centralized management of subsidiaries, with the headquarters responsible for overall strategic planning[153]. Employee and Management Structure - The company employed a total of 2,844 staff members, with 960 in the parent company and 1,884 in major subsidiaries[143]. - The workforce includes 2,173 sales personnel, 269 production staff, 159 R&D employees, and 243 management staff[143]. - The company has a diverse management team with extensive experience in the cosmetics industry, including leadership roles in multiple subsidiaries[114]. - The company emphasizes employee training and development as a priority, utilizing both online and offline learning methods[145]. Environmental Responsibility - The company actively responded to national carbon neutrality goals by implementing low-carbon and green manufacturing initiatives, including the purchase of high-efficiency, low-energy emulsification equipment[157]. - The company has established a solid waste management system, allowing for annual pre-declaration of hazardous waste generation and public bidding for disposal units, ensuring data tracking and risk prevention[157]. - The company has upgraded its wastewater treatment facilities to high-efficiency MBR membranes, contributing to lower energy consumption and emissions[157]. - The company is committed to environmental responsibility and pollution prevention as part of its corporate social responsibility initiatives[161].

Financial Performance - The company's revenue for Q1 2022 was RMB 1,254,357,336.99, representing a year-on-year increase of 38.53%[4] - Net profit attributable to shareholders was RMB 158,420,986.20, reflecting a growth of 44.16% compared to the same period last year[4] - Basic earnings per share reached RMB 0.79, up 43.64% year-on-year[4] - The net profit excluding non-recurring gains and losses was RMB 146,724,879.18, up 36.21% year-on-year[4] - Net profit for Q1 2022 reached CNY 169,398,719.61, a 58.6% increase from CNY 106,814,710.68 in Q1 2021[18] - Operating profit for Q1 2022 was CNY 206,401,869.77, up 57.3% from CNY 131,118,397.28 in the same period last year[18] - Total comprehensive income for Q1 2022 was CNY 169,291,470.95, compared to CNY 106,450,532.92 in Q1 2021, indicating a growth of 58.9%[19] Cash Flow - The net cash flow from operating activities increased significantly by 521.66%, amounting to RMB 342,107,055.69[4] - Cash flow from operating activities generated a net amount of CNY 342,107,055.69 in Q1 2022, significantly higher than CNY 55,030,968.90 in Q1 2021[20] - The net cash flow from financing activities was -$46,648,750.01, compared to -$102,339,506.52 in the previous period[21] - The company experienced a net increase in cash and cash equivalents of $255,611,638.70, contrasting with a decrease of $93,460,369.13 in the prior period[21] Assets and Liabilities - Total assets at the end of the reporting period were RMB 4,845,558,049.59, a 4.59% increase from the end of the previous year[5] - Total assets as of March 31, 2022, were ¥4,845,558,049.59, up from ¥4,633,049,783.03 at the end of 2021, marking an increase of 4.6%[15] - Total liabilities amounted to ¥1,830,929,731.33 as of March 31, 2022, compared to ¥1,746,209,355.96 at the end of 2021, reflecting an increase of 4.8%[16] - The equity attributable to shareholders reached ¥2,993,662,707.64, up from ¥2,876,975,835.98 at the end of 2021, indicating a growth of 4.1%[16] Revenue and Costs - The total operating revenue for Q1 2022 reached ¥1,254,357,336.99, a significant increase of 38.5% compared to ¥905,464,673.13 in Q1 2021[16] - The total operating costs for Q1 2022 were ¥1,039,831,788.21, up from ¥779,738,541.63 in Q1 2021, reflecting a year-over-year increase of 33.3%[16] - The increase in revenue was primarily driven by a 38.60% growth in main business income, particularly from online direct sales channels[8] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,570[11] Expenses - Research and development expenses increased to CNY 29,984,297.07 in Q1 2022, up 69.5% from CNY 17,656,819.49 in Q1 2021[18] - Sales expenses for Q1 2022 were CNY 531,525,291.08, an increase of 40.5% from CNY 377,754,359.96 in Q1 2021[18] - The company reported a tax expense of CNY 36,756,456.24 for Q1 2022, up from CNY 24,279,745.48 in Q1 2021, reflecting a 51.5% increase[18] Other Income - The company received government subsidies amounting to RMB 14,298,520.83, contributing to the increase in net profit[6] - Other income for Q1 2022 was CNY 14,423,871.50, compared to CNY 3,530,669.17 in Q1 2021, marking a substantial increase of 309.5%[18] Future Outlook - Future outlook includes plans for market expansion and potential new product launches, although detailed projections were not provided in the report[16] Cash and Cash Equivalents - Cash and cash equivalents as of March 31, 2022, amounted to ¥2,639,939,888.51, compared to ¥2,391,048,249.81 at the end of 2021, indicating a growth of 10.4%[14] - The total cash and cash equivalents at the end of the period amounted to $2,633,946,406.79, an increase from $1,308,390,385.75 in the previous year[21] - The beginning cash and cash equivalents balance was $2,378,334,768.09, reflecting a strong starting position for the quarter[21] Accounting Practices - The company did not apply the new accounting standards for the current year, indicating a continuation of previous practices[21]

Financial Performance - The company's operating revenue for Q3 2021 was ¥1,094,533,358.54, representing a year-on-year increase of 20.71%[4] - The net profit attributable to shareholders for Q3 2021 was ¥138,195,475.24, an increase of 30.09% compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses for Q3 2021 was ¥136,116,085.45, reflecting a year-on-year growth of 28.64%[4] - The basic earnings per share for Q3 2021 was ¥0.69, up 30.19% year-on-year[5] - The diluted earnings per share for Q3 2021 was also ¥0.69, marking a 30.19% increase compared to the previous year[5] - Total operating revenue for the first three quarters of 2021 reached ¥3,012,251,856.14, a significant increase of 31.5% compared to ¥2,291,070,947.47 in the same period of 2020[18] - Net profit for the third quarter of 2021 was ¥347,154,174.03, representing a 25.7% increase from ¥276,080,874.63 in the same quarter of 2020[23] - Basic earnings per share for the third quarter of 2021 were ¥1.82, compared to ¥1.42 in the same quarter of 2020, reflecting a growth of 28.2%[26] - The total comprehensive income for the third quarter of 2021 was ¥346,420,802.25, up from ¥275,743,440.27 in the same quarter of 2020[26] Assets and Liabilities - The company's total assets at the end of Q3 2021 were ¥3,709,067,852.42, a 1.98% increase from the end of the previous year[5] - As of September 30, 2021, the total assets of the company amounted to approximately CNY 3.71 billion, an increase from CNY 3.64 billion at the end of 2020, representing a growth of about 2%[16] - The company's current assets totaled CNY 2.26 billion, down from CNY 2.34 billion at the end of 2020, indicating a decrease of approximately 3%[15] - The company's total liabilities were CNY 1.08 billion, down from CNY 1.16 billion at the end of 2020, showing a decrease of about 6%[17] - The company's equity attributable to shareholders increased to CNY 2.61 billion from CNY 2.39 billion, marking an increase of approximately 9%[17] Cash Flow - The cash flow from operating activities for the year-to-date was ¥490,488,496.76, showing a significant increase of 137.07% compared to the same period last year[5] - Cash flow from operating activities for the first three quarters of 2021 was ¥3,450,037,382.22, an increase of 42.4% from ¥2,420,971,913.36 in 2020[27] - The net cash flow from operating activities for Q3 2021 was ¥490,488,496.76, an increase of 137.5% compared to ¥206,896,280.64 in Q3 2020[28] - Total cash outflow from operating activities amounted to ¥2,959,548,885.46, up from ¥2,214,075,632.72 in the previous year, indicating a 33.5% increase[28] - The total cash and cash equivalents at the end of Q3 2021 were ¥1,279,266,080.11, a decrease from ¥1,354,326,559.26 at the end of Q3 2020[28] Sales Performance - Online sales revenue grew by 74.25% year-on-year, accounting for 81.85% of total revenue, while offline sales decreased by 37.83%[9] - The overall gross profit margin for Q3 2021 was 66.10%, an increase of 1.61 percentage points year-on-year[9] - The company experienced a net increase in cash received from sales of goods and services, totaling ¥3,372,200,521.00 for the first three quarters of 2021, compared to ¥2,373,276,017.51 in 2020, marking a growth of 42.0%[27] Investment and Expenses - Research and development expenses for the third quarter of 2021 were ¥52,455,578.02, slightly down from ¥53,653,016.11 in the same quarter of 2020[20] - The company reported a decrease in investment income, with a loss of ¥5,257,778.42 in the third quarter of 2021, compared to a gain of ¥1,575,595.65 in the same quarter of 2020[20] - Cash paid for other operating activities was ¥1,246,701,763.29, up from ¥744,477,741.05, marking a 67.5% increase year-over-year[28] - Cash paid for investing activities was ¥258,561,641.26, which is a 100.1% increase from ¥129,177,433.11 in Q3 2020[28] Taxation - The company paid taxes amounting to ¥336,370,801.47, compared to ¥260,143,803.59 in the previous year, representing a 29.2% increase[28]

Financial Performance - The company's revenue for the first half of 2021 reached CNY 1,917,718,497.60, representing a 38.53% increase compared to CNY 1,384,323,848.88 in the same period last year[14]. - Net profit attributable to shareholders was CNY 226,101,313.86, up 26.48% from CNY 178,767,020.76 year-on-year[14]. - The net cash flow from operating activities surged to CNY 266,175,578.82, a significant increase of 627.96% compared to CNY 36,564,378.88 in the previous year[14]. - The company's total assets decreased by 7.13% to CNY 3,377,752,471.47 from CNY 3,636,882,185.29 at the end of the previous year[14]. - The net profit margin for shareholders was 11.79%, down from 12.91% in the previous year[14]. - Basic earnings per share increased to CNY 1.13, a rise of 26.97% from CNY 0.89 in the same period last year[15]. - The weighted average return on equity improved to 9.10%, up from 8.51% year-on-year[15]. - The gross profit margin for the first half of 2021 was 63.73%, slightly down from 64.41% in the previous year[32]. - Total operating revenue for the first half of 2021 reached CNY 1,917,718,497.60, an increase from CNY 1,384,323,848.88 in the same period of 2020, representing a growth of approximately 38.5%[104]. - The total profit for the first half of 2021 was CNY 252,131,763.97, an increase of 14.3% from CNY 220,568,406.90 in the previous year[107]. Revenue Sources - Revenue for the first half of 2021 reached 1.918 billion RMB, representing a year-on-year growth of 38.53%[26]. - Main business revenue was 1.911 billion RMB, with a year-on-year increase of 38.28%[26]. - Direct sales accounted for 57.08% of total revenue, with a significant growth of 135.28% compared to the same period last year[27]. - The brand "Polaia" generated 1.487 billion RMB in revenue, growing by 31.44% year-on-year, making up 77.81% of total revenue[28]. - The company's other business income was 643.80 million RMB, contributing to overall financial performance[26]. Cash Flow and Investments - Operating cash flow for the first half of 2021 was RMB 266,175,578.82, a significant increase from RMB 36,564,378.88 in the same period of 2020, representing a growth of 628.5%[111]. - Net cash flow from operating activities increased by 230 million CNY year-on-year, primarily due to a 740 million CNY increase in sales receipts[43]. - Net cash flow from investing activities decreased by 295 million CNY year-on-year, mainly due to a reduction in cash paid for investments in joint ventures and other equity investments[43]. - Net cash flow from financing activities decreased by 217 million CNY year-on-year, attributed to a 99 million CNY decrease in short-term bank loans received[43]. Assets and Liabilities - Total assets at the end of the reporting period were 3.38 billion CNY, with cash and cash equivalents amounting to approximately 1.24 billion CNY, a decrease of 12.73% from the previous year[44]. - Accounts receivable decreased by 38.81% year-on-year, totaling approximately 174 million CNY[44]. - Inventory decreased by 23.98% year-on-year, amounting to approximately 356 million CNY[45]. - Long-term equity investments increased by 220.50% year-on-year, reaching approximately 186.59 million CNY, primarily due to additional investments in Jiaxing Woyong[45]. - Total liabilities decreased from RMB 1,155,019,919.16 to RMB 885,385,832.70, a reduction of approximately 23.4%[100]. Shareholder Information - The company reported a lock-up period for major shareholders, lasting 36 months from the date of listing, during which they cannot transfer or manage their shares[63]. - Major shareholders are restricted from selling more than 25% of their shares annually during their tenure and for six months after leaving their positions[65]. - The company will publicly explain any failure to stabilize stock prices if necessary measures are not taken[66]. - Shareholders holding more than 5% of the company must announce their intention to sell shares three trading days in advance[66]. - The company will apologize to shareholders and the public if it fails to fulfill its commitments regarding share stability measures[66]. Risk Factors - The company faces intensified industry competition, with risks related to brand upgrade strategies and marketing expenditure control not meeting expectations[51]. - There are significant risks associated with new brand incubation and product category development, with high marketing investments potentially leading to underperformance[51]. - The ongoing COVID-19 pandemic introduces uncertainties that may impact the company's operations[51]. Compliance and Governance - The company emphasizes compliance with relevant laws and regulations regarding share transfers and disclosures[66]. - The company has committed to not repurchasing shares held by major shareholders during the lock-up period[64]. - The company reported no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment[78]. - The integrity status of the company and its controlling shareholders remains good during the reporting period, reflecting a commitment to ethical practices[79]. Research and Development - The company launched new skincare products, including the Ruby Cream and Source Repair Essence, as part of its "big single product strategy" to enhance customer retention and increase average transaction value[33]. - The company's R&D expense ratio was 1.64%, indicating a focus on product innovation despite a slight decrease from the previous year[32]. - Research and development expenses amounted to CNY 31,371,344.46 in the first half of 2021, slightly down from CNY 31,865,144.96 in the same period of 2020[104]. Accounting Policies - The company adheres to the accounting standards for enterprises, ensuring that the financial statements accurately reflect its financial position, operating results, and cash flows[131]. - The company recognizes financial assets when it becomes a party to the financial instrument contract, measuring them initially at fair value[139]. - The company applies expected credit loss model for impairment measurement of financial assets measured at amortized cost[140]. - The company recognizes provisions for expected liabilities when obligations arise from guarantees, lawsuits, product quality assurances, or loss contracts, and can reliably measure the amounts[167].

Financial Performance - Total revenue for Q1 2021 reached RMB 905,464,673.13, representing a 48.88% increase compared to RMB 608,193,650.94 in the same period last year[4] - Net profit attributable to shareholders was RMB 109,895,944.66, up 41.38% from RMB 77,728,276.22 year-on-year[4] - Basic earnings per share rose to RMB 0.55, a 41.03% increase from RMB 0.39 in the same quarter last year[4] - Operating revenue increased by 48.88% to ¥905,464,673.13 from ¥608,193,650.94, mainly driven by a rise in online sales[10] - Net profit for Q1 2021 was ¥106,814,710.68, compared to ¥76,729,897.60 in Q1 2020, indicating a year-over-year growth of 39.1%[22] - The total comprehensive income for the period was ¥106,450,532.92, compared to ¥77,361,075.57 in the previous year, indicating a growth of 37.7%[23] Cash Flow - The net cash flow from operating activities was RMB 55,030,968.90, a significant recovery from a negative cash flow of RMB -134,873,267.48 in the previous year[4] - Cash received from sales of goods and services rose by 62.47% to ¥1,089,758,485.27 from ¥670,762,842.24, reflecting increased online sales and reduced accounts receivable[11] - The cash inflow from operating activities was ¥1,113,401,699.13, significantly higher than ¥688,857,662.26 in Q1 2020, showing an increase of 61.5%[26] - Total cash inflow from operating activities was $491,031,893.57, while cash outflow was $480,766,124.91, resulting in a net cash flow of $10,265,768.66[28] Assets and Liabilities - Total assets decreased by 4.50% to RMB 3,473,279,571.50 from RMB 3,636,882,185.29 at the end of the previous year[4] - Current assets totaled ¥2,184,524,976.26, down from ¥2,342,418,230.12, indicating a decrease of about 6.7% year-over-year[15] - Total liabilities were ¥881,010,294.03, down from ¥1,155,019,919.16, reflecting a decrease of about 23.7%[17] - The total assets decreased to ¥2,959,989,584.33 in Q1 2021 from ¥3,043,852,599.65 in Q1 2020, indicating a reduction in overall asset base[20] Shareholder Information - The total number of shareholders at the end of the reporting period was 20,423[7] - The top shareholder, Hou Jun Cheng, holds 35.74% of the shares, totaling 71,875,631 shares[7] Expenses - Sales expenses surged by 91.57% to ¥377,754,359.96 from ¥197,193,427.03, attributed to a significant increase in promotional expenses[10] - Research and development expenses increased to ¥17,656,819.49 in Q1 2021 from ¥15,919,825.38 in Q1 2020, showing a commitment to innovation[22] Other Financial Metrics - The company reported non-recurring gains of RMB 2,179,953.09, primarily from government subsidies and other income[6] - The company incurred a credit impairment loss of ¥32,993,248.87, compared to ¥5,412,972.27 in the same period last year, which is a significant increase[24] - The company’s deferred tax assets decreased by 35.75% to ¥29,979,586.33 from ¥46,660,550.76, mainly due to the unlocking of restricted stock[10] Future Outlook - The company plans to continue focusing on market expansion and new product development to sustain growth momentum in the upcoming quarters[22]