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]

Financial Performance - The company's revenue for 2020 was approximately CNY 3.75 billion, representing a 20.13% increase from 2019 [18]. - Net profit attributable to shareholders for 2020 was approximately CNY 476 million, a 21.22% increase compared to 2019 [18]. - The net cash flow from operating activities for 2020 was approximately CNY 332 million, showing a significant increase of 40.51% from the previous year [18]. - The total assets at the end of 2020 were approximately CNY 3.64 billion, reflecting a 22.07% increase from 2019 [18]. - The basic earnings per share for 2020 was CNY 2.37, up 20.92% from CNY 1.96 in 2019 [18]. - The company reported a net profit of approximately CNY 191 million in Q4 2020, which was the highest quarterly profit for the year [20]. - The revenue for Q4 2020 reached approximately CNY 1.46 billion, significantly higher than other quarters due to seasonal sales peaks [20]. - The company's net assets at the end of 2020 were approximately CNY 2.39 billion, a 17.83% increase from 2019 [18]. - The company received government subsidies amounting to approximately CNY 12.2 million in 2020, which were closely related to its normal business operations [21]. Dividend Policy - The company plans to distribute a cash dividend of 7.20 RMB per 10 shares, totaling 144,804,186 RMB (including tax) to shareholders [4]. - The company has established a cash dividend policy, ensuring that at least 20% of the distributable profits are allocated as cash dividends annually [90]. - In 2020, the company declared a cash dividend of 7.20 CNY per 10 shares, totaling 144,804,186.00 CNY, which represents 30.42% of the net profit attributable to ordinary shareholders [91]. - The cash dividend for 2019 was 5.90 CNY per 10 shares, totaling 118,749,040.40 CNY, which was 30.24% of the net profit attributable to ordinary shareholders [91]. - The company emphasizes a sustainable profit distribution policy that balances short-term and long-term interests of shareholders [89]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm [3]. - The board of directors and supervisory board members have confirmed the accuracy and completeness of the annual report [2]. - The company has committed to ensuring the financial report's authenticity and completeness [3]. - There are no non-operating fund occupations by controlling shareholders or related parties [5]. - The company has not violated decision-making procedures for external guarantees [5]. - The company has no outstanding issues related to major accounting errors or changes in accounting policies during the reporting period [114]. - The company has committed to ensuring that any share reductions by major shareholders comply with relevant regulations and will announce intentions three trading days in advance [100]. Market and Sales Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth [20]. - The company operates a dual-channel sales model, focusing on both online and offline sales strategies [26]. - The company reported a non-operating loss of 6.81 million RMB, impacting overall profitability [30]. - The company implemented a product-driven strategy, focusing on digital management throughout the product lifecycle and promoting key products to enhance customer retention [37]. - The company aims to enhance brand perception and engage younger consumers through various marketing campaigns and collaborations [38]. Research and Development - The company has established partnerships with leading global raw material suppliers for R&D, enhancing its product development capabilities [27]. - The total R&D expenditure for the period was ¥72,200,028.77, accounting for 1.92% of total revenue [54]. - The number of R&D personnel increased to 196, representing 6.76% of the total workforce [54]. - The company aims to enhance its R&D capabilities to build a competitive edge in technology and innovation [84]. Environmental and Social Responsibility - The company is committed to environmental protection and has established a resource-saving and environmentally friendly green factory [135]. - The company has actively engaged in social responsibility initiatives, as detailed in its sustainability report [133]. - The company implemented measures to reduce wastewater discharge and improve energy efficiency, including the addition of a 120-ton water tank and a low-nitrogen gas boiler [135]. Shareholder Structure and Governance - The company has a good integrity status for both itself and its major stakeholders during the reporting period, indicating strong governance [118]. - The company has not engaged in any activities that would constitute competition with its existing and future business operations [109]. - The company has committed to timely announcements regarding any violations of commitments and the reasons behind them [106]. - The company reported a total of 20,126,956 shares, with 100% ownership structure [137]. - The largest shareholder, Hou Jun Cheng, holds 72,640,500 shares, representing 36.12% of the total shares [147]. Financial Position and Assets - Total assets increased from CNY 2,979,365,076.82 to CNY 3,636,882,185.29, while total liabilities rose from CNY 909,307,033.25 to CNY 1,155,019,919.16, resulting in an increase in the debt-to-asset ratio from 30.52% to 31.76% [144]. - The company reported a net profit of CNY 1,265,671,865.63 in 2020, compared to CNY 908,411,607.62 in 2019, reflecting an increase of about 39.3% [197]. - Long-term equity investments rose to CNY 58,220,059.60 in 2020, compared to CNY 14,728,003.68 in 2019, marking an increase of about 295.5% [195]. - The company’s intangible assets decreased to $308,401,627.24 from $318,477,880.56, a decline of about 3.5% [200].

Financial Performance - Operating income for the first nine months was ¥2,291,070,947.47, representing a growth of 10.14% compared to the same period last year[5] - Net profit attributable to shareholders of the listed company was ¥284,999,721.17, an increase of 18.74% year-on-year[5] - Basic earnings per share for the third quarter were ¥1.42, an increase of 18.33% compared to the same period last year[6] - Diluted earnings per share for the third quarter were ¥1.42, reflecting a growth of 19.33% year-on-year[6] - Total operating revenue for Q3 2020 reached ¥906,747,098.59, a 20.5% increase from ¥752,310,545.06 in Q3 2019[23] - Net profit for Q3 2020 was ¥102,396,471.37, up 58.5% from ¥64,564,642.25 in Q3 2019[25] - The net profit attributable to shareholders of the parent company for Q3 2020 was ¥106,232,700.41, an increase of 59.5% from ¥66,631,354.41 in Q3 2019[25] - The total profit for Q3 2020 was ¥135.88 million, an increase from ¥110.53 million in Q3 2019, reflecting overall business growth[28] Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,231,123,441.43, an increase of 8.45% compared to the end of the previous year[5] - Current assets totaled CNY 2,103,058,266.70, compared to CNY 1,912,866,653.57, reflecting an increase of about 9.9%[18] - Non-current assets rose to CNY 1,128,065,174.73 from CNY 1,066,498,423.25, marking a growth of approximately 5.8%[18] - Total liabilities reached CNY 995,924,642.42, up from CNY 909,307,033.25, which is an increase of approximately 9.5%[18] - The total amount of other receivables rose by 167.10% to RMB 40,785,386.13, primarily due to pending payments from a new investment company and canceled orders during the pandemic[11] - The total current liabilities increased by 131.70% to RMB 299,000,000.00, mainly due to new bank borrowings during the period[12] - Total liabilities amounted to approximately $555.26 million, with current liabilities at $541.78 million[39] Cash Flow - Net cash flow from operating activities for the first nine months was ¥206,896,280.64, up 184.78% from the previous year[5] - The company's cash flow from operating activities increased by 184.78% to RMB 206,896,280.64 compared to the same period last year, driven by sales growth and increased collection of receivables[13] - The total cash inflow from operating activities for the first three quarters of 2020 was approximately ¥2.42 billion, compared to ¥2.14 billion in the same period of 2019, reflecting a growth of 12.93%[30] - The net cash flow from operating activities for Q3 2020 was CNY 206,896,280.64, a significant increase from CNY 72,650,491.31 in Q3 2019, reflecting a growth of approximately 184.5%[31] - The cash inflow from financing activities was CNY 300,466,300.00, a substantial rise from CNY 27,543,331.14 in the previous year, marking an increase of approximately 989.5%[31] Shareholder Information - Net assets attributable to shareholders of the listed company were ¥2,201,913,532.28, reflecting an increase of 8.49% year-on-year[5] - The total number of shareholders at the end of the reporting period was 21,069[8] - The top shareholder, Hou Jun Cheng, held 36.09% of the shares, totaling 72,640,500 shares[8] - The company's equity attributable to shareholders rose to CNY 2,201,913,532.28 from CNY 2,029,687,883.68, reflecting an increase of about 8.5%[19] Expenses and Investments - The company's sales expenses slightly decreased by 0.20% to RMB 818,606,103.63, influenced by the new revenue recognition standards and reduced travel expenses due to the pandemic[13] - Research and development expenses for Q3 2020 were ¥21,787,871.15, a 18.5% increase from ¥18,371,675.47 in Q3 2019[24] - The investment income for the period was RMB 1,575,595.65, a significant improvement from a loss of RMB 299,892.00 in the previous year[13] - The company's long-term equity investments increased by 305.87% to RMB 59,776,263.75, reflecting a new investment of RMB 46 million in a joint venture[12] Market Strategy - The company plans to continue expanding its market presence and invest in new product development[24] - The financial report does not indicate any new product launches or market expansion strategies at this time[40]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥1.38 billion, representing a 4.26% increase compared to ¥1.33 billion in the same period last year[13]. - The net profit attributable to shareholders for the first half of 2020 was approximately ¥178.77 million, a 3.10% increase from ¥173.39 million in the previous year[13]. - The net cash flow from operating activities was approximately ¥36.56 million, a significant recovery from a negative cash flow of ¥59.13 million in the same period last year[13]. - The total assets at the end of the reporting period were approximately ¥3.08 billion, up 3.22% from ¥2.98 billion at the end of the previous year[13]. - The net profit margin attributable to shareholders was 12.91%, slightly down from 13.06% in the previous year[13]. - Basic earnings per share for the first half of 2020 were ¥0.89, a 2.30% increase from ¥0.87 in the same period last year[14]. - The weighted average return on equity decreased to 8.51%, down 1.27 percentage points from 9.78% in the previous year[14]. - The accounts receivable turnover rate was 15.74 times per year, a decrease of 27.30% compared to 21.65 times in the previous year[14]. Revenue Breakdown - Online channel revenue reached 878 million RMB, growing by 43.85% year-on-year, accounting for 63.55% of total revenue[22]. - Offline channel revenue was 504 million RMB, a decrease of 29.69% year-on-year, representing 36.45% of total revenue[22]. - The skincare product revenue was 1.122 billion RMB, a decline of 6.94% year-on-year[22]. - The beauty (makeup) product revenue increased significantly by 251.76% year-on-year, reaching 137 million RMB[22]. Research and Development - The company has established a professional innovation R&D system and a strong self-production capability[21]. - R&D expenses rose by 10.07% to ¥31,865,144.96, reflecting increased investment in new product development[29]. - Research and development expenses for the first half of 2020 were CNY 31,865,144.96, compared to CNY 28,950,059.55 in the same period last year, indicating an increase of 6.6%[79]. Cash Flow and Investments - The company reported a net cash inflow from investment activities of CNY 103,239,680.35, a recovery from a net outflow of CNY 222,785,558.55 in the first half of 2019[88]. - The total cash inflow from operating activities reached CNY 1,115,495,000.42, compared to CNY 897,427,268.63 in the previous year, indicating an increase of approximately 24%[88]. - The company reported a decrease in investment cash flow by 31.60%, totaling ¥104,618,006.73, primarily due to reduced financial investments[29]. Shareholder Commitments - The company has committed to a 36-month lock-up period for shares held by major shareholders, starting from the date of listing, with automatic extensions under certain conditions[42]. - Major shareholders are allowed to reduce their holdings by no more than 6% of the total shares before the issuance within 24 months after the lock-up period expires[45]. - The company will extend the lock-up period for shares held by major shareholders and actual controllers by an additional 6 months if they violate the share lock-up commitment[45]. Financial Position - Total assets increased to CNY 3,075,296,062.79 as of June 30, 2020, compared to CNY 2,979,365,076.82 at the end of 2019, reflecting a growth of approximately 3.2%[73]. - Total liabilities rose to CNY 937,109,952.57 from CNY 909,307,033.25, an increase of approximately 3.1%[75]. - Shareholders' equity increased to CNY 2,138,186,110.22 from CNY 2,070,058,043.57, reflecting a growth of about 3.3%[75]. Compliance and Governance - The company has made significant investments in new product development and market expansion strategies[36]. - The company is committed to improving its compensation system to align with the measures for filling diluted immediate returns[50]. - The company will ensure that any competitive business activities are ceased or transferred to avoid conflicts with its operations[51]. Risk Factors - The company faces risks related to the uncertainty of the COVID-19 pandemic, new project incubation, and competition among brands[37]. - The company has not recognized any bad debt provisions for other receivables, indicating a potential area of risk[195]. Accounting Policies - 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[152]. - The company implemented the revised "Accounting Standards for Revenue" effective January 1, 2020, impacting the financial statements without adjusting prior periods[160]. - The company recognizes financial assets when the contractual rights to receive cash flows have expired or when the financial asset has been transferred and meets the criteria for derecognition as per accounting standards[114].

Financial Performance - Net profit attributable to shareholders decreased by 14.72% to CNY 77,728,276.22 year-on-year[4] - Operating revenue declined by 5.25% to CNY 608,193,650.94 compared to the same period last year[4] - Basic earnings per share decreased by 15.22% to CNY 0.39 per share[4] - The company reported a net profit excluding non-recurring gains and losses of CNY 83,469,428.49, down 8.36% year-on-year[4] - The company reported a profit before tax of RMB 96.37 million for Q1 2020, down 19.0% from RMB 118.96 million in Q1 2019[20] - Net profit for Q1 2020 was RMB 76.73 million, a decline of 15.2% compared to RMB 90.51 million in Q1 2019[21] - The total comprehensive income for the period was 79,650,264.91 RMB, compared to 83,905,364.88 RMB in the previous year[24] Cash Flow - Net cash flow from operating activities was negative at CNY -134,873,267.48, compared to CNY -41,397,214.02 in the previous year[4] - The company reported a net cash flow from operating activities of -134,873,267.48 RMB, compared to -41,397,214.02 RMB in Q1 2019, indicating a decline in operational cash flow[26] - The total cash inflow from operating activities was 688,857,662.26 RMB, while cash outflow was 823,730,929.74 RMB, resulting in a net cash flow deficit[26] - The company's cash flow from financing activities resulted in a net outflow of -114,181,810.61 RMB, compared to -48,895,925.37 RMB in Q1 2019[26] - The net cash flow from financing activities was -85,965,538.71, a decrease of 4,208,897.87 compared to the previous period[29] - The net increase in cash and cash equivalents was -112,437,597.73, compared to -79,945,848.10 in the previous period[29] Assets and Liabilities - Total assets decreased by 7.24% to CNY 2,763,586,896.77 compared to the end of the previous year[4] - Total liabilities amounted to CNY 613,445,475.81, a decrease from CNY 909,307,033.25 in the previous period, indicating a reduction of approximately 32.5%[15] - Total equity reached CNY 2,150,141,420.96, up from CNY 2,070,058,043.57, reflecting an increase of about 3.9%[15] - Current assets totaled CNY 1,091,508,132.66, down from CNY 1,289,826,339.45, representing a decline of approximately 15.4%[17] - The company's cash and cash equivalents decreased significantly to CNY 150,634,800.62 from CNY 403,072,398.35, a drop of around 62.7%[15] Shareholder Information - The total number of shareholders at the end of the reporting period was 9,417[7] - The largest shareholder, Hou Jun Cheng, holds 36.09% of the shares[7] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 4,889,946.42 during the reporting period[6] - The company's other income increased significantly by 1,953.32% to ¥5,359,718.92 from ¥261,027.17, primarily due to increased government subsidies received[10] Investment and Expenses - The company's long-term equity investments increased significantly by 311.12% to ¥60,549,967.96 from ¥14,728,003.68, mainly due to a new investment of ¥46,000,000 in a joint venture[9] - Research and development expenses increased to RMB 15.92 million in Q1 2020, up 17.9% from RMB 13.50 million in Q1 2019[20] - The company experienced a significant reduction in sales expenses, which fell to RMB 197.19 million in Q1 2020, down 13.7% from RMB 228.60 million in Q1 2019[20] Financial Management - The company's financial expenses recorded a significant decrease, showing a loss of ¥890,731.84 compared to a loss of ¥3,854,651.03 in the previous year, indicating improved financial management[10] - The company's cash flow management reflects a strategic focus on liquidity amid changing financial regulations[29] - The company’s financial reporting is compliant with the latest accounting standards as of 2020[30]