Financial Performance - The company's operating revenue for 2019 was CNY 3,123,520,211.77, representing a 32.28% increase compared to CNY 2,361,248,766.72 in 2018[16]. - The net profit attributable to shareholders for 2019 was CNY 392,681,976.58, a growth of 36.73% from CNY 287,188,727.12 in 2018[16]. - The basic earnings per share for 2019 was CNY 1.96, up 36.11% from CNY 1.44 in 2018[17]. - The net cash flow from operating activities for 2019 decreased by 54.00% to CNY 235,961,328.34 from CNY 512,918,568.86 in 2018[16]. - The total assets at the end of 2019 were CNY 2,979,365,076.82, a 4.17% increase from CNY 2,860,042,557.71 at the end of 2018[16]. - The company's total revenue for the year reached 3.124 billion yuan, representing a year-on-year growth of 32.28%[29]. - The net profit attributable to shareholders was 393 million yuan, reflecting a year-on-year increase of 36.73%[32]. - The company reported a quarterly revenue of CNY 1,043,420,091.90 in Q4 2019, significantly higher than other quarters due to seasonal sales peaks[20]. Dividend Distribution - The company distributed a cash dividend of 5.90 RMB per 10 shares, totaling 118,749,040.40 RMB (including tax) to shareholders[4]. - The company has not proposed any capital reserve conversion into share capital or bonus shares in its profit distribution plan[4]. - In 2019, the company distributed a cash dividend of CNY 5.90 per 10 shares, totaling CNY 118,749,040.40, representing 30.24% of the net profit attributable to ordinary shareholders[94]. Audit and Compliance - The company reported a standard unqualified audit opinion from Tianjian Accounting Firm[3]. - The company has a commitment to ensuring the accuracy and completeness of its financial reports, as stated by its management[3]. - The audit report indicated that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2019[183]. - The audit firm provided an unqualified opinion on the financial statements, indicating no significant misstatements were found[183]. Research and Development - The company launched several new products, including a niacinamide whitening essence and deep-sea collagen cream, enhancing its product portfolio[34]. - The company received 21 new national invention patents during the reporting period, increasing its total to 64[36]. - Research and development expenses increased by 45.56% to ¥74,602,606.55, up from ¥51,250,857.94[39]. - The company has made significant investments in research and development, focusing on skincare, cleansing, and cosmetic products[61]. Market and Sales Performance - Online channel revenue was 1.655 billion yuan, up 60.97% year-on-year, accounting for 53.09% of total revenue[30]. - The main brand, Proya, generated 2.656 billion yuan in revenue, a 26.81% increase, making up 85.21% of total revenue[31]. - The skincare product segment generated revenue of ¥2,675,674,488.14, with a year-on-year growth of 25.62%[42]. - The online sales channel's contribution increased from 43.57% in 2018 to 53.09% in 2019[30]. Corporate Governance - The company has committed to compensating investors for losses caused by false statements or omissions in the prospectus, ensuring protection for small investors[103]. - The company has established a framework to protect investor interests, particularly for small investors, in the event of legal violations[104]. - The company has committed to not abusing its controlling shareholder position and will not interfere in management activities[107]. - The company continues to monitor compliance with these commitments to uphold its corporate governance standards[96]. Environmental Responsibility - The company’s production facilities utilize a solar-assisted heating system, achieving low carbon emissions with nitrogen oxides below 50 mg/Nm³ through external flue gas recirculation technology[136]. - The company implemented energy-saving measures, including monitoring water, electricity, and steam usage daily, and conducted activities to reduce energy consumption[134]. - The total investment in environmental protection amounted to ¥141.85 million, representing 0.05% of total revenue[76]. - The company’s wastewater treatment meets the national standard for pollutant discharge, with daily monitoring of COD levels to ensure effective environmental oversight[136]. Shareholder Information - The top shareholder, Hou Jun Cheng, holds 72,640,500 shares, representing 36.09% of the total shares[145]. - Fang Yu You, the second-largest shareholder, owns 48,858,000 shares, accounting for 24.27%[145]. - The total number of shares held by the top five shareholders is 132,706,700, which is approximately 66.77% of the total shares[145]. - The company has no strategic investors or general legal entities among the top 10 shareholders[148]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 2,844, with 718 in the parent company and 2,126 in subsidiaries[166]. - The number of R&D personnel is 172, representing approximately 6% of the total workforce[166]. - The company has implemented a training program aimed at enhancing employee skills and engagement through various learning formats[168]. - The management team has extensive experience in the cosmetics industry, with backgrounds in various related companies, which strengthens the company's competitive edge[157].

Financial Performance - Operating income for the first nine months was approximately ¥2.08 billion, representing a year-on-year increase of 33.35%[5] - Net profit attributable to shareholders of the listed company was approximately ¥240 million, up 32.04% from the previous year[5] - Basic earnings per share increased by 31.87% to ¥1.20 per share[6] - Diluted earnings per share rose by 30.77% to ¥1.19 per share[6] - The company reported a total comprehensive income of ¥64,517,125.63 for Q3 2019, compared to ¥52,892,468.79 in Q3 2018[28] - The company’s net profit for the first three quarters of 2019 was ¥233,171,465.08, up 28.5% from ¥181,437,019.40 in the first three quarters of 2018[27] - The net profit for Q3 2019 was ¥90,129,789.30, up 60.0% from ¥56,356,192.93 in Q3 2018[31] Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥2.70 billion, a decrease of 5.46% compared to the end of the previous year[5] - Total liabilities decreased from CNY 1,161,731,820.18 to CNY 820,951,257.68, a reduction of approximately 29.3%[19] - Current liabilities totaled CNY 748,995,003.95, down from CNY 1,034,656,960.19, representing a decrease of about 27.7%[19] - Non-current liabilities decreased from CNY 127,074,859.99 to CNY 71,956,253.73, a decline of approximately 43.4%[19] - Total equity attributable to shareholders increased from CNY 1,694,310,463.85 to CNY 1,865,143,491.44, reflecting a growth of about 10.1%[20] Cash Flow - The net cash flow from operating activities for the first nine months was approximately ¥72.65 million, a decrease of 61.02% compared to the previous year[5] - The net cash flow from operating activities was 72,650,491.31 CNY, a decrease of 61% compared to 186,372,616.78 CNY in the same period last year[34] - Total cash inflow from operating activities reached 2,143,925,918.00 CNY, up from 1,809,714,207.30 CNY, representing an increase of approximately 18.5%[34] - Cash outflow from operating activities totaled 2,071,275,426.69 CNY, compared to 1,623,341,590.52 CNY, marking a rise of about 27.7%[34] Investments and Expenses - Research and development expenses grew by 33.82% to ¥47,321,735.02 from ¥35,363,534.33, reflecting enhanced investment in new product development and formula upgrades[13] - Long-term equity investments increased by 182.96% to ¥20,364,126.41 from ¥7,196,757.47, due to new investments in joint ventures[12] - The company reported non-operating income of approximately ¥5.09 million from government subsidies related to normal business operations[7] - The company reported a decrease in financial expenses, showing a net income of -¥1,997,893.48 in Q3 2019 compared to -¥1,805,061.75 in Q3 2018[30] Shareholder Information - The total number of shareholders at the end of the reporting period was 9,770, with the largest shareholder holding 36.09% of the shares[9] - Unallocated profits rose from CNY 634,448,228.13 to CNY 787,919,789.22, an increase of approximately 24.2%[20]

Financial Performance - The company's revenue for the first half of 2019 was approximately RMB 1.33 billion, representing a year-on-year increase of 27.48% compared to RMB 1.04 billion in the same period last year[13]. - The net profit attributable to shareholders for the same period was approximately RMB 173.39 million, reflecting a growth of 34.49% from RMB 128.93 million in the previous year[13]. - The net profit after deducting non-recurring gains and losses was approximately RMB 170.65 million, which is a 39.40% increase from RMB 122.42 million year-on-year[13]. - The basic earnings per share increased to RMB 0.87, up 35.94% from RMB 0.64 in the same period last year[14]. - The diluted earnings per share also rose to RMB 0.86, marking a 34.38% increase compared to RMB 0.64 in the previous year[14]. - The company achieved a revenue of 1.328 billion RMB, representing a year-on-year growth of 27.48%[23]. - The net profit attributable to shareholders was 173 million RMB, an increase of 34.49% compared to the previous year[23]. - The company reported a significant increase in minority interests by 143.93% to ¥9,757,869.27, reflecting new subsidiaries[36]. Cash Flow and Assets - The net cash flow from operating activities showed a significant decline, amounting to approximately RMB -59.13 million, compared to RMB 221.63 million in the same period last year, a decrease of 126.68%[13]. - Cash and cash equivalents decreased by 37.34% to ¥917,276,371.24, accounting for 36.28% of total assets[35]. - Accounts receivable increased by 75.77% to ¥156,353,037.16, representing 6.18% of total assets due to sales growth and promotional activities[35]. - Prepayments rose by 61.62% to ¥27,625,588.98, accounting for 1.09% of total assets, driven by increased marketing and promotion expenses[35]. - The total assets decreased by 11.61% to approximately RMB 2.53 billion from RMB 2.86 billion at the end of the previous year[13]. - The company's total current assets amounted to approximately CNY 1.48 billion, a decrease of 18.7% from CNY 1.82 billion on December 31, 2018[76]. - The company's cash and cash equivalents were reported at CNY 917.28 million, down from CNY 1.46 billion, indicating a decline of 37.4%[76]. Revenue Sources - E-commerce channel revenue reached 611 million RMB, accounting for 46.01% of total revenue, with a year-on-year growth of 48.08%[23]. - The skincare segment generated 1.205 billion RMB, making up 90.83% of total revenue, with a year-on-year increase of 27.81%[24]. - The brand "Polaire" accounted for 88.50% of total revenue, with a year-on-year growth of 26.28%[26]. Research and Development - Research and development expenses increased by 39.70% to ¥28,950,059.55, up from ¥20,723,495.73, reflecting the company's commitment to innovation and new product development[33]. - The company launched four new product series, including a new essence family and a deep-sea moisturizing yeast liquid[26]. - The company participated in the formulation of the "Whitening and Moisturizing Cream" standard, showcasing its leadership in the cosmetics industry[29]. Shareholder Commitments and Governance - No profit distribution or capital reserve transfer plans were proposed for the half-year period[43]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, with a potential extension of 6 months if the stock price falls below the issue price for 20 consecutive trading days within the first 6 months[45]. - Major shareholders, including the controlling shareholder, have agreed to a lock-up period that extends to November 14, 2020, with specific conditions for share reduction post-lock-up[45]. - The company has established a commitment to protect investor interests and minimize losses in case of unforeseen circumstances affecting stock performance[47]. - The company has outlined specific conditions under which the lock-up period may be automatically extended, ensuring compliance with market regulations[45]. Environmental and Social Responsibility - The company has implemented a solar-assisted heating system and external flue gas recirculation technology to achieve low carbon emissions from gas boilers, with nitrogen oxide emissions below 50 mg/Nm³[65]. - The company's wastewater treatment facility has a COD level of ≤40 mg/l, significantly below the national standard of ≤50 mg/l for Class A[65]. - The company has updated its environmental safety management goals and implemented waste classification management in all workshops and office areas[64]. Legal and Compliance - There are no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment for the company[57]. - The integrity status of the company and its controlling shareholders is reported to be good during the reporting period, reflecting a commitment to ethical practices[57]. - The company has not engaged in any activities that would constitute competition with its subsidiaries, ensuring a focused business strategy[54]. Accounting Policies and Financial Reporting - The financial statements are prepared on a going concern basis, with no significant doubts regarding the company's ability to continue operations for the next 12 months[105]. - The company adheres to important accounting policies related to financial instruments impairment, fixed asset depreciation, intangible asset amortization, and revenue recognition[106]. - The financial statements comply with the requirements of the enterprise accounting standards, accurately reflecting the company's financial position and operating results[107].

Financial Performance - Operating revenue for the period reached approximately ¥641.92 million, representing a year-on-year increase of 27.59%[4] - Net profit attributable to shareholders was approximately ¥91.15 million, an increase of 30.36% compared to the same period last year[4] - The company reported a net profit excluding non-recurring gains and losses of approximately ¥91.09 million, an increase of 35.38% year-on-year[4] - Basic earnings per share were ¥0.46, reflecting a growth of 31.43% compared to the same period last year[4] - Diluted earnings per share were ¥0.45, an increase of 28.57% compared to the same period last year[4] - Total operating revenue for Q1 2019 reached ¥641,915,746.67, a 27.6% increase from ¥503,122,369.42 in Q1 2018[21] - Net profit attributable to shareholders for Q1 2019 was ¥91,149,334.41, up from ¥69,920,926.50 in Q1 2018, representing a 30.5% growth[22] - Gross profit margin improved to 18.6% in Q1 2019 compared to 16.2% in Q1 2018, indicating better cost management[21] - The company reported a net profit margin of 14.1% for Q1 2019, up from 13.9% in Q1 2018, indicating improved profitability[22] Cash Flow - The net cash flow from operating activities was approximately -¥41.46 million, a decrease of 128.31% year-on-year[4] - Cash flow from operating activities showed a net outflow of CNY 41,461,461.76, compared to a net inflow of CNY 146,461,525.87 in Q1 2018[26] - The total cash outflow from operating activities in Q1 2019 was CNY 720,975,008.22, compared to CNY 426,444,434.54 in Q1 2018[26] - The net cash flow from operating activities was -191,994,153.12 RMB, a significant decline compared to -13,479,837.10 RMB in the same quarter last year, indicating a worsening cash flow situation[28] - The total cash outflow from operating activities was 510,939,213.72 RMB, which is nearly double the outflow of 274,848,475.63 RMB from the same quarter last year, highlighting increased expenditures[28] Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥2.75 billion, a decrease of 3.88% compared to the end of the previous year[4] - Total net assets attributable to shareholders increased to approximately ¥1.79 billion, a rise of 5.74% compared to the previous year[4] - Total current assets decreased to RMB 1,707,180,234.49 from RMB 1,822,899,085.19 at the end of the previous year[14] - Total liabilities decreased from ¥1,161,731,820.18 to ¥945,567,954.12, a reduction of approximately 18.6%[17] - Current liabilities decreased from ¥1,034,656,960.19 to ¥818,493,094.13, a reduction of about 20.9%[16] - The company reported a significant decrease in short-term borrowings from ¥225,287,375.74 to ¥175,287,375.74, a decline of approximately 22.2%[16] Investments and Expenses - R&D expenses increased by 32.94% to RMB 13,504,984.57 compared to RMB 10,158,699.03 in the previous year[11] - Long-term equity investments rose by 64.90% to RMB 11,867,697.48 from RMB 7,196,757.47 year-over-year[10] - Research and development expenses increased to ¥13,504,984.57, a 33.0% rise from ¥10,158,699.03 in Q1 2018, reflecting a focus on innovation[21] - Cash paid for purchasing goods and services was 270,302,154.58 RMB, which is a substantial increase from 133,012,589.88 RMB in the previous year, indicating higher operational costs[28] Shareholder Information - The number of shareholders at the end of the reporting period was 8,464, with the largest shareholder holding 36.07% of the shares[8] - Shareholders' equity increased from ¥1,698,310,737.53 to ¥1,803,470,992.00, an increase of about 6.2%[17] - The company reported a significant increase in minority interests by 197.05% to RMB 11,882,700.78 from RMB 4,000,273.68[11]

Dividend Distribution - The company plans to distribute a cash dividend of 4.30 RMB per 10 shares, totaling 86,552,894 RMB (including tax) to shareholders[4]. - The cash dividend for 2018 is set at 4.30 RMB per 10 shares, totaling 86,552,894 RMB, which represents 30.14% of the net profit attributable to ordinary shareholders[97]. - The company has established a sustainable and stable profit distribution policy, prioritizing cash dividends when conditions are met[96]. Financial Performance - The company's operating revenue for 2018 was approximately ¥2.36 billion, representing a 32.43% increase compared to ¥1.78 billion in 2017[17]. - Net profit attributable to shareholders for 2018 was approximately ¥287.19 million, a 43.03% increase from ¥200.79 million in 2017[17]. - The net cash flow from operating activities for 2018 significantly increased to approximately ¥512.92 million, compared to ¥334.21 million in 2017[17]. - Basic earnings per share for 2018 was ¥1.44, reflecting a 10.77% increase from ¥1.30 in 2017[18]. - The company's total revenue for 2018 reached ¥2,361,248,766.72, representing a year-on-year increase of 32.43% compared to ¥1,783,028,737.20 in the previous year[40]. - Net profit attributable to shareholders reached 287 million RMB, up 43.03% year-on-year, while the net profit excluding non-recurring items increased by 50.03%[31]. - The company reported a total revenue of 15,000 million RMB for the year 2018, reflecting a growth rate of 2% compared to the previous year[127]. Assets and Liabilities - The company's total assets at the end of 2018 were approximately ¥2.86 billion, a 24.14% increase from ¥2.30 billion at the end of 2017[17]. - The total assets at the end of the period were ¥2,826,000,000.00, with cash and cash equivalents accounting for 51.91% of total assets, up from 47.50% last year[57]. - The total liabilities increased from 845,139,900 RMB to 1,161,731,800 RMB, resulting in a rise in the debt-to-asset ratio from 36.68% to 40.62%[140]. - The company's total liabilities increased to ¥1,161,731,820.18, compared to ¥845,139,930.73, representing a growth of 37.4%[194]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies[5]. - The company has detailed risk factors related to future development in the report[6]. - The company faces risks related to new project incubation, platform management, and competition from both international and domestic brands[93]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[3]. - The company has confirmed that 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]. - There are no significant accounting policy changes or major accounting errors reported during the period[111]. Research and Development - The company launched five new product series during the reporting period, including skincare and makeup products, enhancing its product portfolio[32]. - The company invested in automation and intelligent manufacturing, including the introduction of various robots in the mask production workshop, significantly improving production efficiency[37]. - The company increased its R&D expenses to ¥51,250,857.94, a rise of 25.53% compared to ¥40,827,856.50 in the previous year, reflecting a focus on new product development and technology upgrades[40]. - The company launched 6 new national authorized invention patents and submitted 23 new patent applications in 2018, totaling 43 authorized patents by the end of the year[36]. Marketing and Sales - Online sales revenue was 1.028 billion RMB, a significant increase of 59.91%, while offline sales revenue was 1.331 billion RMB, growing by 16.86%[30]. - The e-commerce channel accounted for 43.57% of total revenue, with skincare products generating 2.130 billion RMB, representing 90.29% of total revenue[30]. - The company maintained a multi-channel sales strategy, integrating online and offline platforms to optimize sales performance[30]. - The company's marketing strategy included collaborations with popular media and influencers, significantly boosting brand visibility and engagement[32]. Employee Management - The company implemented a diversified incentive mechanism for talent management, enhancing employee motivation and operational efficiency[39]. - The company has established a comprehensive performance evaluation system to link employee remuneration with performance assessment[167]. - The company aims to enhance employee training and development through various learning formats, including online and offline platforms[168]. Corporate Governance - The company has established a mechanism to ensure compliance with share lock-up commitments by its executives and major shareholders[102]. - The company has committed to compensating investors for any losses incurred due to false statements or omissions in the prospectus, with a focus on protecting the interests of small and medium investors[104]. - The company has a clear ownership and control relationship with its actual controllers, as illustrated in the provided diagrams[150]. - The governance structure of the company complies with relevant laws and regulations, ensuring effective decision-making and supervision[171]. Environmental Responsibility - Environmental protection investments amounted to CNY 923,500, accounting for 0.04% of total revenue[80]. - The company implemented various energy-saving measures, including a heat recovery system and solar-assisted heating, to reduce emissions and energy consumption[81]. - The company has maintained a focus on green manufacturing and environmental control in its operations[130]. Shareholder Information - The total number of ordinary shares increased to 20,136.23 million shares after the issuance of 136.23 million new shares[134]. - The largest shareholder, Hou Jun Cheng, holds 72,640,500 shares, representing 36.07% of the total shares[142]. - The company has no strategic investors or general legal entities among the top ten shareholders[146]. - The company has not issued any preferred shares during the reporting period[152].

Financial Performance - Net profit attributable to shareholders rose by 44.57% to CNY 181,778,089.71 for the first nine months of the year[6]. - Operating revenue for the first nine months increased by 28.58% to CNY 1,559,849,452.23 compared to the same period last year[6]. - The net profit after deducting non-recurring gains increased by 49.88% to CNY 168,176,508.37 compared to the same period last year[6]. - Net profit attributable to shareholders increased by 44.57% to RMB 181,778,089.71, driven by higher sales revenue[13]. - Investment income skyrocketed by 3488.96% to RMB 12,085,383.34 due to increased financial products[13]. - Net profit for Q3 2023 was RMB 52.89 million, representing a 43.9% increase compared to RMB 36.75 million in Q3 2022[25]. - The company reported a total profit of RMB 70.68 million for Q3 2023, a 62.9% increase from RMB 43.36 million in Q3 2022[24]. - The total comprehensive income for Q3 2023 was RMB 53.06 million, compared to RMB 36.56 million in Q3 2022[25]. Assets and Liabilities - Total assets increased by 12.61% to CNY 2,594,440,204.54 compared to the end of the previous year[6]. - Total current assets increased to ¥1,595,748,412.61 from ¥1,465,992,489.07, representing an increase of approximately 8.5%[16]. - Total non-current assets reached ¥998,691,791.93, up from ¥837,834,988.30, which is an increase of about 19.2%[17]. - Total liabilities increased to ¥1,007,367,189.61 from ¥845,139,930.73, reflecting a rise of about 19.2%[18]. - Long-term borrowings increased by 291.54% to RMB 135,130,289.87, primarily for the new building project[12]. - Long-term borrowings increased to ¥135,130,289.87 from ¥34,512,624.26, showing a significant rise of about 292.5%[21]. Cash Flow - The net cash flow from operating activities decreased by 26.13% to CNY 186,372,616.78 for the first nine months[6]. - Cash flow from investment activities showed a significant decline of 4244.38% to -RMB 353,382,839.30, attributed to increased purchases of financial products[13]. - The company reported a net cash outflow from investing activities of CNY -353,382,839.36 for the first nine months of 2018, compared to a net inflow of CNY 8,526,786.74 in the previous year[30]. - Cash received from operating activities totaled $1.04 billion, an increase from $814.28 million year-over-year[33]. - Total cash outflow from operating activities was $1.08 billion, compared to $806.71 million in the previous year[33]. Shareholder Information - The total number of shareholders reached 11,892 by the end of the reporting period[10]. - The largest shareholder, Hou Jun Cheng, holds 36.12% of the shares, totaling 72,640,500 shares[10]. Expenses - Sales expenses rose by 36.43% to RMB 606,006,837.78, mainly due to increased advertising and marketing investments[13]. - Research and development expenses for Q3 2023 amounted to RMB 14.64 million, a 57.5% increase from RMB 9.29 million in Q3 2022[24]. Future Plans - The company plans to continue expanding its market presence and product offerings in the upcoming quarters[14]. - The company plans to continue expanding its market presence and invest in new product development[23].

Financial Performance - The company's revenue for the first half of 2018 reached ¥1,041,537,520.45, representing a 24.92% increase compared to ¥833,791,097.99 in the same period last year[19]. - Net profit attributable to shareholders was ¥128,925,429.52, up 44.88% from ¥88,987,695.89 year-on-year[19]. - The net cash flow from operating activities was ¥221,630,728.70, an increase of 42.84% compared to ¥155,163,963.54 in the previous year[20]. - The total assets of the company at the end of the reporting period were ¥2,578,514,095.67, reflecting an 11.92% increase from ¥2,303,827,477.37 at the end of the previous year[20]. - The company's basic earnings per share for the first half of 2018 was ¥0.64, an increase of 8.47% from ¥0.59 in the same period last year[21]. - The company's gross profit increased by 126 million yuan, with a growth rate of 24.17%[38]. - The company reported a total comprehensive income of ¥128,715,982.33, compared to ¥88,857,995.28 in the previous year, indicating a 45% increase[118]. - Operating profit for the first half of 2018 was ¥159,236,742.75, an increase from ¥94,230,595.96, reflecting a growth of 69%[116]. Sales Channels - The online e-commerce channel saw a significant growth of 58.46% compared to the same period last year, contributing to the overall revenue increase[21]. - Revenue from offline channels, including specialty stores, supermarkets, and single-brand stores, reached ¥630 million, marking a 9.60% increase year-on-year[21]. - Online sales revenue reached 412 million yuan, marking a significant increase of 58.46% compared to the previous year, with online channels accounting for 39.59% of total revenue[37][38]. - Offline sales from specialty stores, supermarkets, and single-brand stores generated 630 million yuan, reflecting a growth of 9.60% year-on-year[36]. Market Position - The cosmetics industry in China had a market size of 361.57 billion yuan in 2017, with a compound annual growth rate of 7.4% from 2013 to 2017[30]. - The company holds a 1.0% market share in the domestic cosmetics market as of 2017[30]. - The main brand, Proya, accounted for 89.42% of total revenue, with a year-on-year growth of 27.52%[44]. Cost Management - Management expenses decreased by 16.62% to 83.14 million yuan, resulting in a management expense ratio reduction from 11.96% to 7.98%[38]. - The company's management expenses decreased from 11.96% in the first half of 2017 to 7.98% in the first half of 2018 due to unified management of newly incubated brand projects[57]. Investment and Assets - The company's net assets attributable to shareholders at the end of the reporting period were ¥1,526,364,992.62, a 4.64% increase from ¥1,458,687,546.64 at the end of the previous year[20]. - Accounts receivable increased by 98.34% from the previous period, reaching 11,920,000 yuan, accounting for 0.46% of total assets[60]. - Prepaid accounts increased by 153.28% to 26,899,534.9 yuan, primarily due to advertising expenses for the Tmall flagship store and rent for the YF store[60]. - Inventory rose by 33.64% to 250,691,278.33 yuan, adjusted to meet flexible production demands[60]. - Long-term borrowings increased by 139.27% to 82,579,269 yuan, primarily for the construction of the company's headquarters[61]. Shareholder Commitments - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, with a lock-up period extending if the stock price falls below the issue price for 20 consecutive trading days[72]. - The commitments made by major shareholders and executives include a restriction on transferring shares during their tenure and for 6 months post-termination[74]. - The company has reported that all commitments made by shareholders and executives have been adhered to in a timely manner[72]. - The lock-up commitments are designed to stabilize the stock price and maintain investor confidence in the initial months following the IPO[72]. Corporate Governance - The company has experienced changes in its board of directors, with the appointment of new executives during the reporting period[105]. - The report does not indicate any changes in the controlling shareholder or actual controller[103]. - There are no new strategic investments or mergers and acquisitions reported in this period[103]. Compliance and Accounting - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[143]. - The accounting policies are in compliance with the enterprise accounting standards, ensuring accurate financial reporting[145]. - The company recognizes impairment losses for long-term assets when their recoverable amount is lower than their carrying value[182]. Environmental and Social Responsibility - The company has implemented energy-saving measures, including a system that saves over 6,000 cubic meters of natural gas monthly, significantly reducing emissions[93].

Financial Performance - The company achieved a revenue of 1.783 billion yuan in 2017, representing a year-on-year growth of 9.83%[39]. - The net profit attributable to shareholders was 201 million yuan, an increase of 30.70% year-on-year, while the net profit excluding non-recurring gains and losses grew by 38.70%[39]. - The net cash flow from operating activities significantly increased by 151.40% to ¥334,212,090.47 in 2017[20]. - The company's total assets grew by 53.35% to ¥2,303,827,477.37 by the end of 2017[20]. - Basic earnings per share rose to ¥1.30, reflecting a 27.45% increase from the previous year[21]. - The company's total operating revenue for 2017 was approximately ¥1.78 billion, representing a year-on-year increase of 9.83%[58]. - Operating costs increased by 10.48% to approximately ¥682.28 million, reflecting the rise in sales[58]. - The company's net profit increased by 72.92% to ¥428,863,545.82, compared to ¥248,016,746.99 in the previous period, demonstrating strong profitability growth[72]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 3.1 RMB per 10 shares, totaling 62 million RMB (including tax) to shareholders[5]. - In 2017, the company distributed cash dividends amounting to 62 million yuan, representing 30.88% of the net profit attributable to ordinary shareholders[123]. - The company has a cash dividend policy that prioritizes cash distributions, with a minimum of 20% of the distributable profit to be distributed annually[121]. Governance and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[4]. - The company has a comprehensive governance structure with all board members present at the board meeting[8]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, with a lock-up period extending to November 14, 2020[125]. - The company has established a clear timeline for the commitments, with specific dates for the lock-up period and conditions for extension[125]. - The company has outlined specific conditions under which the lock-up period may be extended, reflecting a strategy to maintain investor confidence[126]. - The company has committed to compensating investors for losses caused by false statements or omissions in the prospectus, with a focus on protecting the interests of small and medium investors[131]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies[6]. - The company has detailed risk factors in the "Discussion and Analysis of Operating Conditions" section of the report[7]. - The company faces competition risks due to numerous domestic brands and the strong market presence of foreign enterprises[114]. - The company acknowledges the risk of underperformance in new single-brand store projects due to intense market competition[117]. Research and Development - The company developed over 200 new products in 2017, supported by a strong R&D framework and 261 authorized patents[43]. - The company established a "Postdoctoral Research Station" to enhance its research capabilities and was recognized as a "Zhejiang Province Patent Demonstration Enterprise" in 2017[43]. - The company plans to continue its focus on R&D and innovation in product development, particularly in skincare and cosmetics[80]. Market Presence and Sales Channels - The company operates multiple brands in the cosmetics sector, including "Proya" and "Yuzilai," focusing on differentiated brand positioning to meet diverse consumer needs[30]. - Online sales revenue reached 643 million yuan, a significant increase of 31.91% compared to the previous year, with online sales accounting for 36.08% of total sales[41]. - The company's supermarket channel achieved a year-on-year sales growth of 9.72% in 2017, with the main brand Proya receiving the "Best Growth Award" from Yintai Commercial, realizing a retail growth of 23.2% across the Yintai system[50]. Financial Health and Assets - The company's cash and cash equivalents increased to ¥1,094,268,633.21, representing 47.50% of total assets, up from 20.43% in the previous period, a growth of 256.47%[72]. - The company's total liabilities decreased, with short-term borrowings down by 35.72% to ¥283,800,000.00 from ¥441,539,305.92, indicating reduced financial leverage[72]. - The capital reserve increased by 484.43% to ¥781,297,622.55, up from ¥133,684,375.00, due to the issuance of new shares during the IPO[72]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 2,477, with 596 in the parent company and 1,881 in subsidiaries[187]. - The management team includes individuals with extensive experience in the cosmetics and retail sectors, enhancing the company's strategic capabilities[181]. - The company has established a comprehensive performance evaluation system to link employee compensation with performance evaluation[188]. Environmental and Social Responsibility - The company has implemented various environmental protection measures, including a heat recovery system and solar-assisted heating, resulting in a monthly savings of over 6,000 cubic meters of natural gas[155]. - The company has been involved in social responsibility projects, including donations to the United Nations Women’s Agency for gender equality initiatives[152].

Financial Performance - Operating income rose by 10.93% to CNY 503,122,369.42 year-on-year[6] - Net profit attributable to shareholders increased by 31.58% to CNY 67,284,757.34 compared to the same period last year[6] - Net profit attributable to the parent company for the period was CNY 69,920,926.50, reflecting a year-on-year increase of 29.58%[6] - Total revenue for Q1 2018 reached ¥503,122,369.42, an increase of 10.9% compared to ¥453,556,801.89 in the same period last year[23] - Net profit for Q1 2018 was ¥69,920,926.50, representing a 29.5% increase from ¥53,957,865.29 in Q1 2017[24] - The company's operating revenue for Q1 2018 was CNY 361,014,041.72, representing a 11.8% increase from CNY 322,727,113.63 in the same period last year[27] - The total comprehensive income for Q1 2018 was CNY 69,920,926.50, compared to CNY 53,957,865.29 in the previous year[28] Assets and Liabilities - Total assets increased by 4.62% to CNY 2,410,315,183.50 compared to the end of the previous year[6] - Total assets reached RMB 2,410,315,183.50, up from RMB 2,303,827,477.37 at the beginning of the year[17] - The company's total assets as of March 31, 2018, amounted to ¥2,076,568,146.70, compared to ¥1,957,305,985.12 at the beginning of the year, indicating a growth of 6.1%[21] - Total liabilities increased to ¥540,637,383.81 from ¥487,538,938.59, marking an increase of 10.9%[21] Cash Flow - Cash flow from operating activities surged by 45.86% to CNY 146,461,525.87 year-on-year[6] - Net cash flow from operating activities increased by 45.86% to RMB 146,461,525.87, due to higher accrued expenses and lower cash expenses[13] - The net cash flow from operating activities for the first quarter of 2018 was -13,479,837.10 RMB, compared to -68,594,369.22 RMB in the same period last year, indicating an improvement[33] - The cash received from operating activities decreased to 245,652,382.69 RMB from 256,075,199.70 RMB year-over-year, reflecting a decline in sales[33] - The total cash outflow from operating activities was 274,848,475.63 RMB, down from 351,852,296.26 RMB in the previous year, indicating improved cost management[33] Shareholder Information - The total number of shareholders reached 15,583 by the end of the reporting period[9] - The largest shareholder, Hou Jun Cheng, holds 36.32% of the shares, totaling 72,640,500 shares[9] Earnings and Expenses - Basic earnings per share decreased by 2.78% to CNY 0.35 compared to the previous year[6] - The weighted average return on equity decreased by 4.50 percentage points to 4.68%[6] - Operating costs for Q1 2018 were ¥421,400,662.06, up from ¥392,274,989.07, reflecting a year-over-year increase of 7.4%[24] - Sales expenses increased to CNY 61,409,023.50 from CNY 45,629,911.04, reflecting a rise of 34.4% year-over-year[27] - Income tax expenses increased by 35.24% to RMB 14,946,580.24, corresponding to the increase in total profit[13] Other Financial Metrics - The company reported non-recurring gains of CNY 2,636,169.16 for the period[10] - Financial expenses decreased by 74.93% to RMB 1,053,632.64, due to reduced bank borrowings and corresponding lower interest expenses[13] - Long-term borrowings increased by 84.04% to RMB 63,517,980.12, attributed to the financing for the Pulaia Building project[13] - The company reported a significant increase in other payables by 41.46% to RMB 92,739,559.31, due to an increase in customer deposits for the Yuzilai single brand project[13] - The company recorded an investment income of CNY 1,640,301.37, with no prior year comparison available[28]