证券代码：603615 证券简称：茶花股份 公告编号：2023-028 茶花现代家居用品股份有限公司 关于召开 2023 年半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： 会议召开时间：2023 年 08 月 22 日（星期二）下午 14:00-15:00 投资者可于 2023 年 08 月 15 日(星期二)至 08 月 21 日(星期一)16:00 前登录 上证路演中心网站首页点击"提问预征集"栏目 （http://roadshow.sseinfo.com/questionCollection.do）或通过公司邮箱 603615@chahuajj.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。 茶花现代家居用品股份有限公司（以下简称"公司"）已于 2023 年 08 月 05 日发布公司 2023 年半年度报告，为便于广大投资者更全面深入地了解公司 2023 年半年度经营成果、财务状况，公司计划于 2023 年 08 月 22 日下午 14:00-15:00 举 ...

证券代码：603615 证券简称：茶花股份 公告编号：2023-027 茶花现代家居用品股份有限公司 实际控制人通过协议转让方式转让部分股份 的计划公告 本公司董事会、全体董事及相关股东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： 实际控制人持股的基本情况 截至本公告披露日，茶花现代家居用品股份有限公司（以下简称"公司"） 实际控制人之一、董事陈冠宇先生持有公司股份 61,062,111 股，占公司总股本 （241,820,000 股）的 25.25%。上述股份来源为公司首次公开发行前取得的股份， 并已于 2020 年 2 月 13 日上市流通。 陈冠宇先生计划自本公告披露之日起 3 个交易日后的 3 个月内（根据中国证 券监督管理委员会及上海证券交易所相关规定禁止减持的期间除外），通过协议 转让方式减持公司股份不超过 12,091,000 股，即不超过公司总股本的 5.00%。 若在减持计划实施期间，公司有送股、资本公积转增股本等股份变动事项，本次 拟减持股份数量将相应进行调整。 1 股东名称 股东身份 持股数量（股） 持股比例 ...

Financial Performance - For the first half of 2023, the company achieved a net profit attributable to shareholders of 4,260,337.79 CNY, a decrease from the previous year's loss of 8,125,339.94 CNY[4] - The company's operating revenue for the first half of 2023 was 326,045,565.69 CNY, showing a slight decrease of 0.23% compared to 326,786,747.72 CNY in the same period last year[20] - Basic earnings per share for the reporting period was 0.02 CNY, an improvement from a loss of 0.03 CNY in the previous year[20] - The weighted average return on net assets increased by 1.02 percentage points to 0.35% compared to -0.67% in the same period last year[20] - The net cash flow from operating activities was 38,932,473.17 CNY, a decrease of 52.24% from 81,518,982.74 CNY in the previous year[20] - The company reported a non-recurring profit of 2,890,362.60, after accounting for tax effects of 963,471.29[23] - The company reported a net asset attributable to shareholders of 1,205,499,419.63 CNY, a slight decrease of 0.46% from 1,210,999,485.69 CNY at the end of the previous year[20] - The company reported a net profit for the first half of 2023 of CNY 152,195,773.40, compared to a net loss of CNY 4,368,021.51 in the same period of 2022, indicating a significant turnaround in performance[105] - Operating profit reached CNY 152,739,916.29, a recovery from an operating loss of CNY 5,715,683.04 in the previous year[105] Assets and Liabilities - As of June 30, 2023, the total assets of the company were 1,419,405,349.14 CNY, reflecting an increase of 3.57% from 1,370,508,034.79 CNY at the end of the previous year[20] - Total liabilities amounted to CNY 208,405,863.45, up from CNY 165,008,615.16, reflecting an increase of about 26.3%[94] - The company's total liabilities increased to CNY 133,016,293.62 from CNY 86,116,344.99, reflecting a significant rise in the company's debt levels[101] - Cash and cash equivalents at the end of the period amounted to ¥493,077,812.75, representing 34.74% of total assets, an increase of 23.50% compared to ¥399,264,855.22 from the previous year[38] - Accounts receivable decreased slightly to ¥117,075,365.65, accounting for 8.25% of total assets, a decrease of 0.53% from the previous year[38] - Inventory decreased by 5.21% to ¥155,795,672.33, which is 10.98% of total assets, down from 11.99%[38] - Short-term borrowings increased significantly by 300% to ¥80,000,000.00, up from ¥20,000,000.00, primarily due to an increase in credit borrowings during the reporting period[38] Dividends and Shareholder Returns - The company proposed a cash dividend of 1.00 CNY per 10 shares, with no stock bonus or capital reserve transfer[4] - The profit distribution plan has been approved by the company's board and supervisory committee, and it aligns with relevant regulations and does not harm the interests of the company or minority shareholders[53] - The company commits to a stable profit distribution policy, ensuring that cash dividends will not be less than 20% of the distributable profits each year[64] - The company plans to distribute cash dividends of at least 20% of the distributable profits annually for the next three years, as per the shareholder return plan approved in 2021[64] Operational and Market Strategy - The company has developed a product line consisting of over 1,000 items, covering various aspects of home life[29] - The company utilizes a multi-channel sales model, including provincial and local distributors, direct sales to supermarkets, and e-commerce platforms[25] - The company has a strong marketing channel advantage with nationwide coverage through various sales channels[28] - The company emphasizes user experience in its R&D design, creating a complete feedback loop from product design to market response[29] - The company is actively exploring new sales models, including live streaming e-commerce and home delivery services[28] - The company aims to continuously launch new products and optimize its product line to meet diverse consumer preferences[29] Risk Management and Compliance - The company has indicated that there are no significant risks affecting its production and operations during the reporting period[7] - The company faces risks from fluctuations in raw material prices, particularly for petrochemical products, and plans to optimize supply chain and production processes to mitigate these risks[46] - The company emphasizes the importance of product quality management to avoid potential recalls and maintain brand reputation, implementing a comprehensive quality management system[46] - The company has not faced any administrative penalties due to environmental issues during the reporting period[58] - The company and its subsidiaries have adhered to environmental protection laws and regulations, implementing strict operational standards to manage pollution sources[58] Legal and Arbitration Matters - The company has initiated arbitration against Bubu Gao Commercial Chain Co., Ltd. for a total claim of RMB 4,697,952.00 plus overdue payment losses of RMB 220,557.85, with the arbitration hearing held on May 31, 2023[71] - Another arbitration was filed against Sichuan Bubu Gao Commercial Co., Ltd. for RMB 2,034,346.99 in unpaid goods and overdue payment losses of RMB 86,764.41, with a mediation agreement reached but not fulfilled by the respondent[72] - The company has no significant litigation or arbitration matters pending as of the report date, ensuring a stable legal standing[74] Shareholder Structure and Governance - The actual controllers hold a combined 91.74% of the company's shares, with intentions to maintain long-term holdings and not to reduce their stakes within three years post-IPO[63] - The company has implemented measures to avoid competition with its actual controllers, ensuring no direct or indirect engagement in competing businesses[67] - The company has established a commitment to avoid related party transactions that could harm the interests of non-related shareholders[68] - The company has a commitment to maintain a transparent and fair pricing principle for any unavoidable related party transactions[68] Financial Reporting and Accounting Policies - The company’s financial statements are prepared based on the assumption of going concern, with no significant doubts regarding its ability to continue operations in the next 12 months[127] - The company’s accounting policies are in accordance with the relevant Chinese accounting standards, ensuring compliance and accuracy in financial reporting[126] - The company consolidates all subsidiaries in its financial statements based on control[143] - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports, reflecting the overall financial position, operating results, and cash flows of the entire corporate group[144]

投资者可于 2023 年 05 月 15 日（星期一）至 05 月 19 日（星期五）16:00 前 登 录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 （http://roadshow.sseinfo.com/questionCollection.do）或通过公司邮箱 603615@chahuajj.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。 茶花现代家居用品股份有限公司（以下简称"公司"）已于 2023 年 03 月 18 日和 2023 年 04 月 26 日分别发布公司 2022 年年度报告及 2023 年第一季度 报告，为便于广大投资者更全面深入地了解公司 2022 年度及 2023 年第一季 度经营成果、财务状况，公司计划于 2023 年 05 月 22 日下午 13:00-14:00 举行 2022 年度暨 2023 年第一季度业绩说明会，就投资者关心的问题进行交流。 证券代码：603615 证券简称：茶花股份 公告编号：2023-017 茶花现代家居用品股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩说明会 的 ...

证券代码：603615 证券简称：茶花股份 公告编号：2023-016 茶花现代家居用品股份有限公司 关于参加福建辖区上市公司 2023 年投资者 网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，茶花现代家居用品股份有限公司（以下 简称"公司"）将参加由福建证监局、福建省上市公司协会与深圳市全景网络有 限公司联合举办的"2023年福建辖区上市公司投资者网上集体接待日活动"，现 将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演APP, 参与本次互动交流，活动时间为2023年5月15日（周一）16:00-17:30。届时公司 高管将在线就公司2022年度业绩、公司治理、发展战略、经营状况、融资计划、 股权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广 大投资者踊跃参与。 特此公告。 茶花现代家居用品股份有限公司 董 事 会 2023年 ...

2023 年第一季度报告 证券代码：603615 证券简称：茶花股份 茶花现代家居用品股份有限公司 2023 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 | | --- | --- | --- | | | | 变动幅度(%) | | 营业收入 | 167,014,246.60 | 1.30 | | 归属于上市公司股东的净利润 | 2,019,924.98 | 不适用 | | 归属于上市公司股东的扣除非经常性 损益的净利润 | 1,213,532.52 | 不适用 | | 经营活动产生的现金流量净额 | 27,623,860.58 | -22.98 | | 基本每股收益（元/股） | 0.0084 | 不适用 | | 稀释每股收益（元/股） | 0.0084 | 不适用 | 1 / 14 2023 年第一季度报告 | 加权平均净资产收益率(%) | | 0. 17 | 增加 0. 27 个百分点 | | ...

Financial Performance - In 2022, Chahua Co., Ltd. reported a net profit attributable to shareholders of -18,781,303.86 CNY, compared to -20,455,463.48 CNY in 2021, indicating an improvement of 8.2% year-over-year[6]. - The company's total revenue for 2022 was 675,914,444.43 CNY, a decrease of 15.38% from 798,787,754.62 CNY in 2021[27]. - The net profit attributable to shareholders was -18.78 million yuan, reflecting ongoing challenges in the market[38]. - The company's net assets attributable to shareholders decreased by 1.46% year-on-year, totaling 1.205 billion yuan[38]. - The operating cash flow for 2022 was 129,275,358.42 CNY, showing a significant decline compared to previous periods[27]. - Gross profit for the period was 138,359,501.25 RMB, down 19.84% from 172,605,429.10 RMB year-on-year, resulting in a gross margin of 20.47%, a decline of 1.14 percentage points[48]. - The company reported a net loss attributable to shareholders of -18,781,303.86 CNY and a net loss of -15,246,160.50 CNY for the parent company[152]. - The company did not propose a cash dividend for 2022 due to the annual loss, which does not meet the conditions for profit distribution[152]. Assets and Liabilities - The net assets attributable to shareholders at the end of 2022 were 1,205,499,419.63 CNY, down 1.46% from 1,223,333,965.99 CNY at the end of 2021[28]. - The total assets decreased by 1.79% to 1,370,508,034.79 CNY in 2022 from 1,395,532,531.01 CNY in 2021[28]. - The company's total liabilities decreased by 28.06% compared to the previous year, reflecting improved financial health[59]. - The total amount of accounts receivable was 116,458,627.83, a decrease of 4.92% from 122,481,409.69 in the previous year[68]. - The company's cash and cash equivalents increased to 399,264,855.22, representing 29.13% of total assets, up from 20.39% in the previous year[68]. Operational Efficiency - The company plans to shift to direct management of certain supermarket distributors starting in 2023 to improve operational efficiency[38]. - The company optimized its inventory structure, reducing excess inventory by over 50 million yuan[38]. - The company achieved a total of 2 invention patents and 20 design patents during the reporting period, enhancing its innovation capabilities[81]. - The company optimized its production layout and upgraded technology on certain production lines to enhance efficiency[88]. - The company will optimize its APS production scheduling system to improve production efficiency and reduce inventory risks, ensuring timely order fulfillment[107]. Market Strategy and Sales - The company opened 46 new flagship stores, enhancing its marketing channel strategy[38]. - The sales model includes a mix of provincial and regional distributors, direct sales to major supermarkets, and e-commerce platforms, ensuring nationwide coverage[44]. - The company is actively exploring new sales models, including live-streaming e-commerce, to enhance market penetration and brand visibility[45]. - The company aims for a revenue target of 820 million yuan in 2023, representing a growth of over 20% year-on-year[105]. - The company plans to enhance its product line by focusing on kitchen baking and cooking products, responding to new consumer demands[105]. Research and Development - Continuous R&D investment has led to the development of new products, including the award-winning Ouboz MINI lipstick cup, enhancing the company's competitive edge[39]. - The company has established a comprehensive R&D system focused on user experience, enhancing market responsiveness and product development efficiency[46]. - Research and development investments increased by 30%, totaling $15 million, to enhance product innovation[126]. - The company plans to actively explore the application of biodegradable materials such as PLA, PHA, and PBAT in disposable products, aiming to establish a solid technical foundation for future projects related to biodegradable products[107]. Corporate Governance - The company has established a robust corporate governance framework, ensuring effective operation and compliance with relevant laws and regulations[113]. - The company held 4 shareholder meetings in 2022, ensuring transparency and fairness in decision-making processes[115]. - The board of directors consists of 9 members, including 3 independent directors, complying with relevant laws and regulations[116]. - The company emphasizes the protection of minority shareholders' rights and has adopted measures to ensure their participation in decision-making[115]. - The company has implemented a comprehensive investor relations management system to facilitate communication with shareholders[116]. Environmental and Social Responsibility - The company invested CNY 593,100 in environmental protection during the reporting period[165]. - The company has adopted energy-saving measures in production, including upgrading heating methods and equipment to reduce energy consumption[167]. - The company has published its 2022 Social Responsibility Report, highlighting its commitment to sustainability[169]. Risks and Challenges - The company faces risks from raw material price fluctuations, particularly in petrochemical products, and plans to mitigate these through supply chain optimization and cost management strategies[110]. - The company received regulatory warnings from the Shanghai Stock Exchange due to improper accounting treatment during the acquisition of Chengdu Chahua in 2020[132]. - The company has maintained a good integrity status, with no significant debts or court judgments against it[188]. Employee Management - The total number of employees in the parent company is 358, while the main subsidiaries employ 763, resulting in a total of 1,121 employees[147]. - The company has a training system in place to meet talent development needs, utilizing online resources and external trainers[150]. - The company has implemented a stock incentive plan, with adjustments made to the plan as necessary[155].

重要内容提示： 2022 年第三季度报告 证券代码：603615 证券简称：茶花股份 茶花现代家居用品股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比 上年同期增 | 年初至报告期末 | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 170,853,493.52 | -15.73 | 497,640,241.24 | -16.96 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥326,786,747.72, a decrease of 17.59% compared to ¥396,549,293.83 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥8,125,339.94, compared to a profit of ¥7,185,764.42 in the previous year, indicating a significant decline[18]. - Basic earnings per share for the reporting period were -¥0.03, compared to ¥0.03 in the same period last year[19]. - The weighted average return on net assets was -0.67%, a decrease of 1.23 percentage points from 0.56% in the previous year[19]. - The company reported a total non-recurring profit of ¥1,041,639.75 after tax adjustments[22]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan for the first half of 2022, representing a year-over-year growth of 25%[56]. - The net profit attributable to shareholders was a loss of CNY 35,427,000.00, indicating a decline in profitability[124]. - The total comprehensive income for the current period is reported at approximately CNY -8.13 million, compared to CNY 792,000 in the previous year[121]. Cash Flow and Assets - The net cash flow from operating activities was ¥81,518,982.74, a positive turnaround from -¥32,760,848.90 in the same period last year[18]. - The company's cash and cash equivalents increased to ¥342,823,369.09, representing 25.33% of total assets, up from 20.39% last year, a growth of 20.46%[37]. - Accounts receivable rose to ¥124,405,313.90, accounting for 9.19% of total assets, compared to 8.78% last year, an increase of 1.57%[37]. - Inventory decreased significantly by 29.42% to ¥168,767,238.95, which now represents 12.47% of total assets, down from 17.14% last year[37]. - The company's total assets at the end of the reporting period were ¥1,353,547,310.48, down 3.01% from ¥1,395,532,531.01 at the end of the previous year[18]. - The total liabilities decreased to CNY 66,727,061.51 from CNY 78,413,842.23, indicating a reduction of 15%[103]. - The company's cash and cash equivalents increased to CNY 255,879,214.31 from CNY 190,246,606.32, representing a growth of 34.4%[102]. Market and Product Development - The company has developed a product line consisting of over 1,000 items, focusing on daily plastic household products[23]. - The sales model primarily relies on distributors, with a focus on provincial and regional distributors to enhance market penetration[25]. - The company is planning a non-public issuance of A-shares to invest in a biodegradable plastic production base with an annual capacity of 35,000 tons[32]. - The company is focusing on upgrading online brand marketing to adapt to the shift in consumer behavior towards e-commerce[32]. - Market expansion plans include entering three new provinces, aiming for a 10% market share in these regions by the end of 2023[56]. - The company plans to focus on expanding its market presence and developing new products in the upcoming quarters[126]. Risks and Challenges - The company faces risks from raw material price fluctuations, particularly in petrochemical products like PP, which are influenced by unpredictable oil price changes[44]. - The ongoing COVID-19 pandemic poses risks to production and operations, potentially impacting short-term financial performance if restrictions are reimposed[46]. - The competitive landscape in the daily plastic products industry is intense, necessitating continuous product development and cost management to enhance market competitiveness[45]. Corporate Governance and Management Changes - The company held 2 shareholder meetings during the reporting period, with all proposed resolutions approved[51]. - Changes in senior management included the resignation of Chen Youmei as director and deputy general manager, and the appointment of Wang Shurong as financial vice president and financial officer[52]. - Lu Hui resigned from his positions as director and general manager on August 8, 2022, and Chen Youmei was appointed as the new general manager on August 12, 2022[53]. Environmental Compliance - The company has not faced any administrative penalties related to environmental issues during the reporting period[60]. - The company adheres to strict environmental regulations and has implemented measures to manage pollution sources effectively[60]. - The company has maintained compliance with national environmental protection laws and regulations throughout the reporting period[61]. Shareholder Information - The actual controllers hold a combined 91.74% of the company's shares, with intentions to maintain long-term holdings and not reduce their stakes within three years post-IPO[65]. - The company plans to distribute at least 20% of its distributable profits in cash dividends annually, as per the three-year dividend plan approved in 2021[67]. - The total number of shares decreased from 243,140,000 to 241,820,000 due to the repurchase and cancellation of 1,320,000 restricted shares[83]. Accounting and Financial Reporting - The financial statements are prepared based on the assumption of continuous operation, adhering to relevant accounting standards[133]. - The company applies important accounting estimates, including expected credit losses on receivables and inventory impairment assessments[135]. - The company recognizes financial assets or liabilities when it becomes a party to a financial instrument contract, using the effective interest method for amortized cost calculations[161].

Financial Performance - The company's operating revenue for Q1 2022 was ¥164,878,274.80, representing a decrease of 23.36% compared to the same period last year[5] - The net profit attributable to shareholders was -¥1,271,065.38, indicating a significant loss[5] - The basic earnings per share for the period was -¥0.0052, primarily due to a decline in sales volume and operating revenue[6] - In Q1 2022, the company's net profit was -1,293,216.06 RMB, a significant decrease compared to a net profit of 7,820,844.76 RMB in Q1 2021, representing a decline of approximately 116.5%[20] - Operating profit for Q1 2022 was -1,787,127.82 RMB, compared to an operating profit of 10,868,060.75 RMB in Q1 2021, indicating a decline of around 116.4%[20] - The total comprehensive income for Q1 2022 was -1,293,216.06 RMB, compared to 7,820,844.76 RMB in Q1 2021, reflecting a decrease of approximately 116.5%[21] - The company reported a net profit margin decline due to increased costs, impacting overall profitability[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,364,792,830.37, down 2.20% from the end of the previous year[6] - Current assets as of March 31, 2022, totaled RMB 648,756,874.25, a decrease from RMB 667,900,153.39 at the end of 2021[16] - Total assets amounted to RMB 1,364,792,830.37 as of March 31, 2022, compared to RMB 1,395,532,531.01 at the end of 2021[18] - Total liabilities decreased to RMB 141,247,324.92 from RMB 170,693,809.50 at the end of 2021[18] - The company's cash and cash equivalents increased to RMB 289,972,761.25 from RMB 284,590,706.48 at the end of 2021[16] - Inventory decreased to RMB 205,133,567.48 from RMB 239,128,458.42 at the end of 2021[16] - Long-term equity investments were RMB 2,087,904.09, slightly down from RMB 2,103,809.07 at the end of 2021[16] Cash Flow - The net cash flow from operating activities was ¥35,865,660.50, with no comparative data provided[5] - The net cash flow from operating activities in Q1 2022 was 35,865,660.50 RMB, a turnaround from a negative cash flow of -7,719,129.33 RMB in Q1 2021[24] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 17,530[12] - The top shareholder, Chen Guanyu, held 25.11% of the shares, amounting to 61,062,111 shares[13] Costs and Expenses - Total operating costs for Q1 2022 were RMB 166,292,231.08, down from RMB 202,520,881.62 in Q1 2021[19] - The company experienced a 236.42% increase in asset impairment losses, primarily due to increased inventory write-downs[10] - The company reported a significant increase in tax expenses, with a tax expense of -438,281.71 RMB in Q1 2022 compared to 2,643,271.03 RMB in Q1 2021, indicating a change in tax liability[20] - The company incurred a financial expense of -1,694,604.52 RMB in Q1 2022, an improvement from -2,721,526.04 RMB in Q1 2021[20] - The company reported a decrease in research and development expenses to 2,259,842.12 RMB in Q1 2022 from 2,631,182.07 RMB in Q1 2021, a reduction of about 14.1%[20] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters[19]