Financial Performance - Operating revenue for the first nine months was CNY 1,679,974,283.03, an increase of 25.34% year-on-year[7] - Net profit attributable to shareholders for the first nine months was CNY 84,004,593.17, reflecting a growth of 2.65% compared to the same period last year[7] - The company reported a net profit of CNY 60,808,230.58 after deducting non-recurring gains and losses, an increase of 5.90% year-on-year[8] - Total operating revenue for Q3 2018 reached ¥810,067,926.47, an increase of 3.4% compared to ¥780,472,660.24 in Q3 2017[29] - Net profit for Q3 2018 was ¥138,590,630.84, up 23.3% from ¥112,341,395.62 in Q3 2017[31] - The company reported a total profit of ¥183,040,552.14 for Q3 2018, an increase of 24.5% from ¥147,000,402.96 in Q3 2017[31] - The company aims to continue expanding its market presence and investing in new product development to sustain growth[29] Cash Flow - Net cash flow from operating activities reached CNY 160,920,107.86, a significant improvement of 349.78% compared to the previous year[7] - Cash flow from operating activities for the first nine months of 2018 was ¥160.92 million, a turnaround from a negative cash flow of ¥64.42 million in the same period of 2017[39] - Total cash inflow from operating activities for the first nine months of 2018 was ¥2.35 billion, an increase of 43.9% compared to ¥1.63 billion in the same period of 2017[39] - Cash flow from investment activities generated a net inflow of CNY 118,810,912.80, compared to a net outflow of -CNY 201,497,299.22 in the previous year[43] - Cash outflow for purchasing goods and services was CNY 1,864,672,571.44, an increase from CNY 1,517,538,438.22 year-over-year[42] - Cash received from sales of goods and services was CNY 2,403,690,055.41, up from CNY 2,047,308,632.59 in the previous year[42] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,763,231,710.87, a decrease of 1.59% compared to the end of the previous year[7] - Total current assets decreased from CNY 1,809,992,841.19 at the beginning of the year to CNY 1,602,734,733.42, a decline of approximately 11.5%[22] - Total non-current assets increased from CNY 997,874,063.04 to CNY 1,160,496,977.45, an increase of about 16.3%[23] - Total liabilities decreased from CNY 880,219,313.46 to CNY 791,580,526.93, a decline of approximately 10.1%[24] - Total equity attributable to shareholders increased from CNY 1,927,647,590.77 to CNY 1,971,651,183.94, an increase of about 2.3%[24] Shareholder Information - The total number of shareholders at the end of the reporting period was 19,860[12] - The largest shareholder, Jiang Jianqi, holds 58.99% of the shares, totaling 235,946,520 shares[12] Research and Development - Research and development expenses decreased by 37.17% to RMB 5,746,817.64, primarily due to reduced investment in liquid milk tea projects[16] - Research and development expenses for Q3 2018 were ¥2,064,031.90, down 41.0% from ¥3,491,542.35 in Q3 2017[30] Investment and Financial Activities - The company’s investment income increased by 209.33% to RMB 8,961,621.61, driven by higher returns from financial products[16] - The company reported a basic earnings per share of ¥0.46 for Q3 2018, compared to ¥0.23 in Q3 2017, reflecting a growth of 100%[36] - Investment income for Q3 2018 was ¥83.86 million, a significant increase from ¥0.37 million in Q3 2017[35] Other Financial Metrics - Basic earnings per share for the reporting period were CNY 0.21, down 8.70% from CNY 0.23 in the previous year[8] - The weighted average return on net assets decreased by 2.28 percentage points to 4.29%[8] - The company has not reported any significant changes in expected cumulative net profit for the year compared to the previous year[19]

Financial Performance - The company's operating revenue for the first half of 2018 was RMB 869,906,356.56, representing a 55.38% increase compared to RMB 559,862,105.69 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was a loss of RMB 54,586,037.67, which is a 78.92% increase in loss compared to a loss of RMB 30,508,051.18 in the previous year[17]. - The net cash flow from operating activities was a negative RMB 464,071,584.65, showing an improvement of 13.45% compared to a negative RMB 536,175,667.33 in the same period last year[17]. - Basic earnings per share for the first half of 2018 were RMB -0.14, a decrease of 75.00% compared to RMB -0.08 in the same period last year[19]. - The weighted average return on net assets was -2.90%, a decrease of 0.37 percentage points compared to -2.53% in the previous year[19]. - The company reported a net profit excluding non-recurring gains and losses of RMB -68,578,208.79, which is a 49.44% increase in loss compared to RMB -45,888,661.97 in the previous year[17]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in the first half of 2018, representing a year-over-year growth of 20%[64]. - The company provided a positive outlook for the second half of 2018, projecting a revenue growth of 25%[66]. Assets and Liabilities - The total assets decreased by 13.42% to RMB 2,430,977,578.67 from RMB 2,807,866,904.23 at the end of the previous year[18]. - The net assets attributable to shareholders decreased by 4.91% to RMB 1,833,060,553.10 from RMB 1,927,647,590.77 at the end of the previous year[18]. - The company's cash and cash equivalents decreased by 42.93% to 757,426,752.23 RMB due to investments and payments to suppliers[40]. - The company's total liabilities decreased from CNY 880,219,313.46 to CNY 597,917,025.57, representing a reduction of about 32.0%[109]. - The total equity attributable to the parent company decreased from CNY 1,927,647,590.77 to CNY 1,833,060,553.10, reflecting a decline of approximately 4.9%[109]. Investments and Capital Expenditures - The company has invested CNY 14,300,900 in fixed assets during the reporting period, including CNY 8,423,600 for liquid milk tea production equipment[28]. - The company reported a significant increase of 313.89% in construction in progress, amounting to 206,048,623.69 RMB, due to investments in new facilities[40]. - The company invested 98.4252 million RMB in a new liquid milk tea production line project in Jiangmen, Guangdong, with an annual capacity of 168,000 tons[45]. - The company plans to optimize its sales organization and integrate the solid and liquid tea teams to improve efficiency[34]. Market and Product Development - The company has established three major production bases in Huzhou, Chengdu, and Tianjin, focusing on the development, production, and sales of milk tea products[24]. - The company maintains a leading market share in the cup milk tea segment, holding the top position for five consecutive years from 2012 to 2016[26]. - The company has introduced new liquid milk tea products, "MECO" milk tea and "Lan Fang Yuan" silk milk tea, which have gained popularity since their launch in 2017[26]. - The company has developed three new flavors of "MECO Honey Valley" juice tea in 2018: "Jinju Lemon," "Peach Red Grapefruit," and "Thai Lime" tea[26]. - The company launched the new "MECO Honey Valley" juice tea in July 2018, which has been well received by consumers[35]. Sales and Distribution - The company has a stable network of 1,215 distributors across major cities and counties in China, ensuring a smooth sales channel[31]. - Sales expenses increased by 54.68% to 317,262,078 RMB, primarily due to higher advertising and promotional costs[37]. - The company aims to focus on 136 key cities for liquid tea distribution to enhance sales performance[34]. Risk Management - The company faces risks related to product quality control, policy changes, seasonal sales fluctuations, and raw material price volatility[48]. - The company has not disclosed any plans for profit distribution or capital reserve transfer to increase share capital during the reporting period[4]. - There are no significant risks related to non-operating fund occupation by controlling shareholders or their related parties[5]. Governance and Compliance - The company has committed to not transferring or entrusting the management of shares held prior to the public offering for 36 months from the date of listing[54]. - The company will ensure timely and accurate disclosure of information regarding any share reductions, adhering to stock exchange rules[58]. - The company has established a commitment to accept supervision from regulatory authorities and the public regarding share transfers[56]. - The company reported a commitment to adhere to legal and regulatory requirements regarding shareholding and lock-up periods, ensuring compliance with relevant laws and stock exchange rules[59]. Environmental Responsibility - The company has implemented strict environmental protection measures, ensuring that wastewater discharge complies with the GB8978-1996 standard, with no exceedance reported during the reporting period[79]. - The total wastewater discharge for the reporting period was 53,500 tons, with a chemical oxygen demand (COD) of 2.675 tons, which is within the control indicators[79]. - The company has developed an emergency response plan for environmental incidents, classified as general environmental risk[86]. Accounting and Financial Reporting - The company has not disclosed any significant changes in accounting policies or estimates during the reporting period[90]. - The financial statements are prepared based on the going concern principle and comply with the relevant accounting standards[135]. - The company recognizes investment income from interest or dividends during the holding period of financial assets measured at fair value[151]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 22,299[92]. - The largest shareholder, Jiang Jianqi, held 235,946,520 shares, representing 58.99% of the total shares[94]. - Jiang Jianqi's shares are subject to a lock-up period of 36 months, set to expire on November 30, 2020[97].

Financial Performance - Operating revenue increased by 111.41% to CNY 652,372,522.96 year-on-year[6] - Net profit attributable to shareholders rose by 35.04% to CNY 28,300,828.96 compared to the same period last year[6] - Net profit after deducting non-recurring gains and losses surged by 203.54% to CNY 16,785,210.06[6] - Basic earnings per share increased by 16.67% to CNY 0.07[6] - The company reported a significant increase in operating revenue, achieving CNY 652,372,522.96 in Q1 2018, a 111.41% increase compared to CNY 308,582,903.72 in Q1 2017[16] - The net profit for Q1 2018 increased by 35.04% year-on-year, indicating improved operational performance despite challenges[16] - Total operating revenue for Q1 2018 reached ¥652,372,522.96, a significant increase of 111.1% compared to ¥308,582,903.72 in the same period last year[29] - Net profit for Q1 2018 was ¥28,300,828.96, representing a 35.0% increase from ¥20,957,649.17 in Q1 2017[30] Cash Flow and Liquidity - The net cash flow from operating activities improved by 29.17%, reaching -CNY 296,390,004.80[6] - Cash flow from operating activities showed a net outflow of CNY -296,390,004.80, an improvement of 29.17% compared to CNY -418,436,699.24 in the same period last year[16] - Cash inflow from operating activities totaled approximately CNY 807.33 million, while cash outflow was approximately CNY 1.10 billion, leading to the net cash flow from operating activities being negative[36] - The net cash flow from operating activities was negative at CNY -262,018,446.64, an improvement compared to CNY -396,726,961.29 in Q1 2017[38] - The company reported cash and cash equivalents at the end of Q1 2018 of approximately CNY 842.90 million, down from CNY 894.01 million at the end of the previous year[37] - The ending cash and cash equivalents balance was CNY 379,743,610.06, compared to CNY 119,183,919.93 at the end of Q1 2017, reflecting an increase of about 218%[41] Assets and Liabilities - Total assets decreased by 11.61% to CNY 2,481,740,157.99 compared to the end of the previous year[6] - Total liabilities decreased to ¥1,001,579,144.31 from ¥1,221,674,934.61, a reduction of 18.0%[27] - Current assets totaled ¥1,319,507,491.31, down 13.5% from ¥1,542,088,576.47 at the start of the year[26] - The company experienced a significant reduction in accounts receivable, down 83.09% to CNY 13,134,975.88 from CNY 77,654,186.15, primarily due to the recovery of receivables from distributors[21] - The company’s cash and cash equivalents decreased by 36.49% to CNY 842,903,793.83 from CNY 1,327,171,360.94, mainly due to a reduction in advance payments[21] Investments and Expenses - The company plans to maintain significant investment in liquid milk tea products, indicating a focus on brand promotion and market penetration[17] - The gross profit margin is expected to be impacted in the short term due to rising raw material costs, although price adjustments are planned for the second half of the year[17] - Total operating costs for Q1 2018 were approximately CNY 636.77 million, up from CNY 259.40 million in Q1 2017, indicating increased expenses associated with revenue growth[32] - The company reported a significant increase in sales expenses, which rose to ¥176,912,812.89 from ¥108,459,823.95, an increase of 63.2%[30] - Cash outflow from investing activities totaled CNY 198,661,024.65, down from CNY 384,603,589.98 in the previous year, indicating a reduction of about 48%[41] Shareholder Information - The total number of shareholders reached 24,106 at the end of the reporting period[12] - The largest shareholder, Jiang Jianqi, holds 58.99% of the shares[12]

Financial Performance - The company's operating revenue for 2017 was CNY 2,640,383,869.53, representing a 10.49% increase compared to CNY 2,389,708,863.88 in 2016[23]. - The net profit attributable to shareholders for 2017 was CNY 267,766,144.24, a slight increase of 0.63% from CNY 266,102,092.72 in 2016[23]. - The cash flow from operating activities for 2017 decreased significantly by 71.15% to CNY 105,474,784.59 from CNY 365,580,450.87 in 2016[23]. - The total assets at the end of 2017 were CNY 2,807,866,904.23, up 29.48% from CNY 2,168,549,180.53 at the end of 2016[23]. - The basic earnings per share for 2017 remained unchanged at CNY 0.74 compared to 2016[24]. - The weighted average return on equity for 2017 was 19.58%, a decrease of 3.95 percentage points from 23.53% in 2016[24]. - The company's main business revenue in the milk tea sector reached RMB 2,615,016,360.11, with a gross margin of 40.70%, a decrease of 4.85 percentage points year-on-year[53]. - The company reported a total revenue of CNY 2,615,016,360.11, with a year-on-year growth of 9.81% in distributor sales[102]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 1 per 10 shares to all shareholders, totaling RMB 40,001,000.00[5]. - The company's annual report will be submitted for approval at the 2017 annual general meeting[5]. - The company committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, ensuring shareholder stability[126]. - After 36 months, the company allows a maximum of 25% share transfer per year for directors, with restrictions on transfers within six months of leaving the company[126]. - The company has established a commitment to accept supervision from regulatory bodies and investors, ensuring accountability for any violations of share transfer commitments[128]. - The company will retain any proceeds from unauthorized share transfers, which will be deducted from future cash dividends owed to the individuals involved[128]. Production and Product Development - The company operates three major production bases located in Huzhou, Chengdu, and Tianjin, focusing on the research, production, and sales of milk tea products[30]. - The company launched a new liquid milk tea production line with an annual capacity of 10.36 million tons in March 2017, adding fixed assets of RMB 282.28 million[37]. - The company introduced two new high-end liquid milk tea products, "MECO" milk tea and "Lan Fang Yuan" silk stockings milk tea, which have gained popularity among consumers[34]. - The company launched two new liquid milk tea products and upgraded the existing delicious series to the "explosion pearl" series, which has been well received by consumers[66]. - The company is focused on improving its product structure, as the current reliance on cup tea may pose risks if market conditions change[119]. Market and Sales Strategy - The company has established a nationwide sales network with 1,174 distributors by the end of 2017, ensuring stable sales channels[41]. - The company implemented a differentiated marketing strategy based on regional consumption capabilities, promoting higher-end products in stronger markets while maintaining classic offerings in lower-tier cities[45]. - The company plans to continue expanding its online sales strategy to enhance consumer interaction and product testing[101]. - The company aims to enhance the quality of milk tea products and promote them as mainstream beverages[30]. - The company is currently constructing a new liquid milk tea production line in Jiangmen, with an investment of CNY 781.91 million in construction and CNY 4,063.26 million in intangible assets[108]. Risk Management and Compliance - The company has detailed potential risks in the "Discussion and Analysis of Operating Conditions" section of the report[7]. - The company faces risks related to product quality control, which could severely impact its reputation and sales if any issues arise[118]. - The company is exposed to raw material price volatility, which could affect operational costs despite its leading market position and procurement strategies[120]. - The company has implemented strict market checks to combat product counterfeiting, which poses a risk to its brand and sales performance[120]. - The company has committed to minimizing related party transactions and ensuring fairness in any unavoidable transactions[145]. Environmental and Social Responsibility - The company emphasizes the importance of food safety, implementing strict quality control measures throughout the production process[160]. - The company has engaged a professional environmental impact assessment company for its new liquid milk tea project, receiving approval from the Huzhou Environmental Protection Bureau[175]. - The company actively engages in social responsibility initiatives, focusing on shareholder and employee rights, as well as food safety[159]. - The company has established internal governance mechanisms to protect shareholder rights, including a board of directors and supervisory board[159]. - The company has no reported cases of exceeding pollution discharge limits during the reporting period[165]. Audit and Financial Reporting - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[4]. - The company has committed to ensuring the accuracy and completeness of the annual report content[8]. - The company has implemented changes in accounting policies, including the separate listing of "continuing operations profit and loss" and "discontinued operations profit and loss" in the income statement[148]. - The company has not reported any major accounting errors or corrections during the reporting period[149]. - The company has appointed Lixin Accounting Firm as its auditor for the 2017 fiscal year, with an audit fee of 850,000 CNY[150].