Financial Performance - The company's operating revenue for Q1 2022 was ¥202,605,631.94, representing a decrease of 17.59% compared to the same period last year [5] - The net profit attributable to shareholders was -¥33,080,705.32, a decline of 481.12% year-on-year [5] - The basic earnings per share for the period was -¥0.149, reflecting a decrease of 472.50% compared to the previous year [6] - Total revenue for Q1 2022 was CNY 202,605,631.94, a decrease of 17.5% compared to CNY 245,836,589.92 in Q1 2021 [17] - Net loss for Q1 2022 was CNY 33,082,189.69, compared to a net profit of CNY 8,675,762.99 in Q1 2021 [18] - In Q1 2022, the total comprehensive income attributable to the parent company was -33,080,705.32 RMB, compared to 8,679,887.90 RMB in Q1 2021, indicating a significant decline [19] - The basic and diluted earnings per share for Q1 2022 were both -0.149 RMB, down from 0.040 RMB in Q1 2021 [19] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,068,098,956.34, down 8.02% from the end of the previous year [6] - Total assets as of March 31, 2022, were CNY 1,068,098,956.34, down from CNY 1,161,169,653.15 at the end of 2021 [16] - Current assets decreased to CNY 878,615,026.98 from CNY 960,650,077.19 at the end of 2021, reflecting a decline of approximately 8.5% [16] - Cash and cash equivalents were CNY 374,523,566.81, down from CNY 386,156,668.54 at the end of 2021 [16] - Accounts receivable decreased significantly to CNY 65,223,682.63 from CNY 121,563,662.14, indicating a reduction of about 46.3% [16] - Total liabilities decreased to CNY 145,544,749.25 from CNY 206,996,352.69, a reduction of approximately 29.6% [16] - The company’s equity attributable to shareholders decreased to CNY 922,542,405.81 from CNY 954,160,014.81, reflecting a decline of about 3.3% [16] Cash Flow - The company reported a net cash flow from operating activities of -¥18,689,222.17, which is not applicable for comparison [5] - Cash inflow from operating activities totaled 294,144,879.61 RMB in Q1 2022, an increase of 15.4% from 254,971,114.50 RMB in Q1 2021 [22] - Cash outflow from operating activities was 312,834,101.78 RMB in Q1 2022, compared to 275,981,614.79 RMB in Q1 2021, resulting in a net cash flow from operating activities of -18,689,222.17 RMB [22] - The net cash flow from investing activities was 9,377,314.24 RMB in Q1 2022, a recovery from -34,813,772.11 RMB in Q1 2021 [22] - Cash inflow from financing activities was 40,000,000.00 RMB in Q1 2022, with cash outflow totaling 42,321,127.02 RMB, leading to a net cash flow from financing activities of -2,321,127.02 RMB [23] - The ending cash and cash equivalents balance for Q1 2022 was 374,523,566.81 RMB, a decrease from 354,237,748.64 RMB in Q1 2021 [23] - The company received 1,434,733.91 RMB in tax refunds during Q1 2022, compared to only 27.95 RMB in Q1 2021 [22] - The company reported a cash inflow of 10,000,000.00 RMB from investment recoveries in Q1 2022, down from 20,000,000.00 RMB in Q1 2021 [22] - The company’s total cash and cash equivalents decreased by 11,633,101.73 RMB in Q1 2022, compared to a decrease of 55,822,799.39 RMB in Q1 2021 [23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,015 [10] - The largest shareholder, Zhenxing International Co., Ltd., held 65.27% of the shares [10] Capital Changes - The company approved a capital reduction for its subsidiary, reducing registered capital from ¥75 million to ¥50 million [12] Research and Development - The company reported a significant increase in research and development expenses to CNY 307,055.62 from CNY 110,814.29 in Q1 2021 [18] Return on Equity - The weighted average return on equity was -3.53%, a decrease of 4.42 percentage points year-on-year [6]

2021 年第三季度报告 证券代码：603958 证券简称：哈森股份 哈森商贸（中国）股份有限公司 2021 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个别及连带责任。 重要内容提示： 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。 公司负责人陈玉珍、主管会计工作负责人伍晓华及会计机构负责人（会计主管人员）杨楠保 证季度报告中财务报表信息的真实、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 | 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 | 189,228,682.37 | -3.73 | 666,193,048.87 | 13.95 ...

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥476.96 million, representing a 22.90% increase compared to ¥388.10 million in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2021 was approximately ¥6.05 million, a significant recovery from a loss of ¥23.53 million in the same period last year[19]. - The basic earnings per share for the first half of 2021 was ¥0.03, a recovery from a loss of ¥0.11 per share in the same period last year[19]. - The company reported a gross profit margin of approximately 3.3% in the first half of 2021, compared to a negative margin in the previous year[83]. - The company recorded a total comprehensive income of RMB 6,043,673.96, compared to a loss of RMB 25,125,710.70 in the first half of 2020[84]. - The company's net profit for the first half of 2021 was CNY 25,904,398.69, an increase from CNY 24,676,613.16 in the same period of 2020, representing a growth of approximately 5%[87]. - Operating profit reached CNY 32,095,271.26, compared to CNY 24,003,978.42 in the previous year, indicating a significant increase of about 33%[87]. Cash Flow and Management - The net cash flow from operating activities improved to approximately -¥20.80 million, compared to -¥67.46 million in the same period last year, indicating better cash management[19]. - Cash and cash equivalents at the end of the period were ¥332,411,923.97, accounting for 30.62% of total assets, down 18.94% from the previous year[32]. - The company reported a net cash flow from operating activities of CNY 29,650,509.57, a significant recovery from a net outflow of CNY 21,304,992.33 in the first half of 2020[93]. - The company reported a net decrease in cash and cash equivalents of CNY 25,012,181.01 for the first half of 2021, compared to a much larger decrease of CNY 181,166,600.75 in the same period of 2020[94]. Assets and Liabilities - The total assets decreased by 6.28% to approximately ¥1.08 billion from ¥1.16 billion at the end of the previous year[19]. - The total amount of accounts receivable increased by 15.51% to ¥123,622,070.76, which may pose a risk of bad debts due to potential payment difficulties from department stores[33]. - Total liabilities decreased from CNY 184,770,113.83 to CNY 105,983,087.15, a decrease of approximately 42.5%[75]. - The total equity at the end of the reporting period is CNY 1,231,462,803.93, an increase from CNY 1,205,528,906.61 at the end of the previous year, representing a growth of approximately 2.15%[104]. Operational Changes - The company has highlighted potential risks in its management discussion, advising investors to be cautious[6]. - The company is in the process of deregistering several subsidiaries to optimize its asset structure and reduce operational costs[37]. - The company has undergone a reduction in the scope of consolidation due to the cancellation of several subsidiaries, including the full cancellation of two subsidiaries in January 2021[110]. Marketing and Sales - The company achieved a revenue of 477 million RMB, representing a year-on-year growth of 22.90%[29]. - Direct sales channels generated revenue of 453 million RMB, an increase of 28.97% year-on-year[29]. - Online sales revenue reached 82 million RMB, showing a significant growth of 93.71%[29]. - The company has established a comprehensive marketing network with a focus on both online and offline sales strategies[28]. Research and Development - Research and development expenses decreased significantly by 89.03% to ¥315,246.14 from ¥2,874,747.07, attributed to a reduction in R&D personnel and spending[31]. - The company has not reported any new product launches or technological advancements during this period[105]. Governance and Compliance - The company held its annual general meeting on May 21, 2021, where all proposed resolutions were approved without any rejections[45]. - The company confirmed compliance with commitments regarding shareholding restrictions post-initial public offering[53]. - The company plans to continue adhering to legal and regulatory requirements in its operations and governance[50]. Environmental and Social Responsibility - The company emphasized its commitment to environmental protection and energy conservation in its operations[50]. - The company is not classified as a key pollutant discharge unit and adheres to environmental protection regulations[50]. Financial Reporting and Accounting Policies - The financial statements are prepared based on the assumption of going concern, indicating the company's ability to continue operations for at least 12 months from the reporting date[112]. - The company's accounting policies and estimates are tailored to the company's operational characteristics, ensuring compliance with relevant accounting standards[113]. - The company adopts the equity method for investments in joint ventures, recognizing assets and liabilities based on its share of the joint arrangement[129].

Financial Performance - The company's operating revenue for 2020 was ¥892,184,219.26, a decrease of 27.80% compared to ¥1,235,692,550.74 in 2019[20] - The net profit attributable to shareholders was -¥43,532,851.68, a decline of 560.08% from a profit of ¥9,461,917.28 in the previous year[20] - The cash flow from operating activities showed a net outflow of -¥10,857,142.59, a decrease of 121.99% compared to a positive cash flow of ¥49,381,180.70 in 2019[20] - The total assets at the end of 2020 were ¥1,158,158,090.22, down 8.74% from ¥1,269,141,826.31 at the end of 2019[21] - The net assets attributable to shareholders decreased to ¥973,353,231.34, a reduction of 4.89% from ¥1,023,407,084.38 in 2019[21] - The basic earnings per share for 2020 was -¥0.200, a decrease of 554.55% from ¥0.044 in 2019[22] - The weighted average return on equity was -4.36%, a decrease of 5.29 percentage points from 0.93% in the previous year[22] - The company reported a total of CNY 432,404.34 in overseas assets, representing 0.04% of total assets, indicating limited international exposure[34] - The company achieved a revenue of 892.18 million RMB in 2020, a decrease of 27.80% year-on-year[38] - The net profit attributable to shareholders was -43.53 million RMB, reflecting a significant decline due to the pandemic and reduced sales channels[41] Cash Flow and Investments - The cash flow from operating activities showed a significant improvement, with a negative cash flow of CNY 46.13 million in Q1 turning positive to CNY 39.51 million in Q4[25] - The company reported a total of CNY 38,100,000 in investments in financial products or structured deposits, achieving an investment income of CNY 841.14 million[96] - The company received 260,950,000.00 RMB from investment recoveries, down from 396,180,000.00 RMB in the previous year[176] - Cash inflow from investment activities totaled 271,164,147.94 RMB, with cash outflow of 266,879,047.13 RMB, leading to a net cash flow of 4,285,100.81 RMB[177] Sales and Market Performance - The overall retail sales of footwear in China decreased by 6.6% year-on-year, reflecting the impact of the pandemic on the industry[32] - The online retail sales of physical goods grew by 14.8%, highlighting a shift in consumer behavior towards e-commerce during the pandemic[32] - The company operated 1,318 physical stores by the end of the reporting period, with 1,098 being direct-operated stores, a net decrease of 80 stores during the year[38] - Online sales revenue reached 135 million RMB, accounting for 15.20% of total revenue, with a year-on-year growth of 53.61%[38] - The company reported a significant drop in foreign sales revenue, which was only 14 million RMB, a decrease of 91.77% compared to the previous year[41] Strategic Initiatives - The company plans not to distribute cash dividends for the 2020 fiscal year, pending approval from the shareholders' meeting[5] - The company is focusing on digital transformation and data management to enhance its competitive edge in the evolving retail landscape[33] - The company has indicated potential risks in its future plans and strategies, urging investors to be cautious[6] - The company plans to enhance its brand operation capabilities and accelerate the digital transformation of offline stores in 2021[70] - The company is enhancing its marketing channels by integrating online and offline sales, including live streaming and social media marketing[70] Operational Challenges - The decline in net profit was primarily due to reduced domestic sales and a significant drop in export orders, exacerbated by the impact of the pandemic[22] - The company faced a 65.85% reduction in R&D expenses, totaling 4.36 million RMB, due to a decrease in R&D personnel[42] - The company experienced a significant decrease in export orders, particularly in North America, due to trade protectionism and customer order shifts[46] - The company faces risks related to inventory control, with a focus on reducing unsold stock and improving inventory turnover rates[72] Governance and Compliance - The company maintains compliance with the Shanghai Stock Exchange's disclosure rules, ensuring timely and accurate information dissemination to all shareholders[5] - The internal control audit report for 2020 received a standard unqualified opinion, indicating no significant deficiencies were found[141] - The company has established a commitment to not engage in competing businesses during the period of holding shares[83] - The company has obligations to compensate for any losses incurred due to social insurance or housing fund contributions that were not paid prior to the signing of the commitment letter[83] Human Resources and Management - The company employed a total of 4,390 staff, with 2,240 in the parent company and 2,150 in major subsidiaries[129] - The company has implemented a training program focusing on management and business skills to enhance employee development[131] - The company has a diverse educational background among employees, with 3,670 having education below college level[129] - The company has a well-defined process for determining the remuneration of directors and senior management based on performance evaluations[126] Future Outlook - The company plans to focus on market expansion and new product development to improve future performance[171] - The company aims to become a leading domestic footwear enterprise, focusing on providing comfortable, stylish shoes for modern women of all ages[68]

Financial Performance - Operating revenue increased by 13.60% to CNY 245,836,589.92 compared to the same period last year[12] - Net profit attributable to shareholders of the listed company was CNY 8,679,887.90, a significant recovery from a loss of CNY 1,344,452.61 in the previous year[12] - The company recorded a significant reduction in asset impairment losses by 80.13% to CNY 2,524,845.69 compared to the previous year[12] - Government subsidies recognized in the current period amounted to CNY 941,234.97, contributing positively to the financial results[7] - Total operating revenue for Q1 2021 was CNY 245,836,589.92, an increase of 13.6% compared to CNY 216,396,617.11 in Q1 2020[27] - Net profit for Q1 2021 reached CNY 8,675,762.99, compared to a net loss of CNY 1,992,784.63 in Q1 2020, indicating a significant turnaround[28] - Earnings per share for Q1 2021 were CNY 0.040, compared to a loss per share of CNY 0.006 in Q1 2020[28] - The total comprehensive income for Q1 2021 was ¥10,689,812.87, down from ¥19,761,722.28 in Q1 2020[31] Cash Flow - Cash flow from operating activities improved, with a net cash flow of CNY -21,010,500.29, an improvement from CNY -46,126,095.88 in the same period last year[5] - The net cash flow from operating activities for Q1 2021 was -21,010,500.29 RMB, an improvement from -46,126,095.88 RMB in Q1 2020, primarily due to a decrease in payments for goods[13] - The company reported a significant decrease in accounts receivable from CNY 157,195,105.21 in Q1 2020 to CNY 111,740,733.09 in Q1 2021, a drop of 29.0%[22] - The company's cash outflow for operating activities totaled ¥275,981,614.79 in Q1 2021, compared to ¥297,878,682.61 in Q1 2020[34] - In Q1 2021, the company's operating cash flow generated a net amount of ¥30,861,168.98, a significant improvement compared to a net outflow of ¥14,070,502.74 in Q1 2020, marking a turnaround of over 218%[35] - Total cash inflow from operating activities was ¥237,952,890.44, up from ¥213,944,789.75 in the same period last year, representing an increase of approximately 11.2%[35] Assets and Liabilities - Total assets decreased by 5.80% to CNY 1,091,013,986.95 compared to the end of the previous year[5] - Total liabilities decreased to 108,950,247.56 RMB from 184,770,113.83 RMB, showing a significant reduction of about 41%[20] - The company's equity attributable to shareholders increased to 982,033,119.24 RMB from 973,353,231.34 RMB, showing a slight increase of about 0.7%[20] - As of March 31, 2021, total current assets amounted to 884,943,046.28 RMB, down from 946,573,608.10 RMB as of December 31, 2020[18] - The company's cash and cash equivalents decreased to 354,237,748.64 RMB from 410,060,548.03 RMB at the end of 2020, reflecting a decline of approximately 13.6%[18] - Accounts receivable decreased to 59,211,405.82 RMB from 71,967,049.90 RMB, indicating a reduction of about 17.7%[18] - Inventory as of March 31, 2021, was 390,507,423.27 RMB, down from 423,189,503.07 RMB, representing a decrease of approximately 7.7%[18] Management and Operational Changes - Management expenses decreased by 43.26% to CNY 6,928,133.99, primarily due to reduced management costs from a deregistered subsidiary[12] - The company has completed the deregistration of certain subsidiaries, which may impact future operational efficiency and financial performance[14] Investment Activities - The net cash flow from investing activities for Q1 2021 was -34,813,772.11 RMB, significantly improved from -220,524,269.12 RMB in Q1 2020, mainly due to a reduction in purchases of entrusted financial products[14] - The company reported cash inflow from investment activities of ¥20,094,640.00 in Q1 2021, compared to ¥618,727.91 in Q1 2020[34] - The company received ¥20,000,000 in cash from investment recoveries during Q1 2021, which was not reported in the previous year[35] - The total cash inflow from investment activities was ¥20,055,240.00, a significant increase from ¥513,727.91 in Q1 2020[35]

2020 年第三季度报告 公司代码：603958 公司简称：哈森股份 哈森商贸（中国）股份有限公司 2020 年第三季度报告 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人陈玉珍、主管会计工作负责人伍晓华及会计机构负责人（会计主管人员）杨楠保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 1 / 26 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 9 | 2020 年第三季度报告 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 2.1 主要财务数据 3 / 26 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度 末增减(%) 总资产 1,181,435,257.26 1,269,141,826.31 -6.91 归属于上市公司股 东的净资产 ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥388,095,932.59, a decrease of 38.82% compared to ¥634,330,007.50 in the same period last year[18]. - The net profit attributable to shareholders was -¥23,529,733.76, representing a decline of 366.52% from a profit of ¥8,828,548.79 in the previous year[18]. - The net cash flow from operating activities was -¥67,461,264.74, a significant drop from ¥6,494,925.60 in the same period last year, marking a decrease of 1,138.68%[18]. - The total assets decreased by 12.55% to ¥1,109,847,778.33 from ¥1,269,141,826.31 at the end of the previous year[18]. - The net assets attributable to shareholders decreased by 2.94% to ¥993,341,649.51 from ¥1,023,407,084.38 at the end of the previous year[18]. - Basic earnings per share for the first half of 2020 was -¥0.11, a decrease of 375.00% compared to ¥0.04 in the same period last year[19]. - The company reported a significant increase in non-recurring losses, with a total of ¥9,140,230.11 from various non-operating income and expenses[22]. - The decline in revenue and profit was primarily attributed to the impact of the pandemic and a decrease in export orders[20]. - The company achieved operating revenue of 388.1 million RMB, a decrease of 38.82% compared to the same period last year[34]. - The net profit attributable to the parent company was -23.5 million RMB, a decrease of 366.52% year-on-year[34]. - Domestic sales revenue was 371 million RMB, down 32.80% year-on-year, while foreign sales revenue was 14 million RMB, down 83.20%[34]. Operational Changes - The company operated 1,352 physical stores, including 1,128 direct-operated stores and 224 franchised stores[34]. - Direct-operated stores generated 309 million RMB in revenue, accounting for 79.52% of total revenue[34]. - Online sales contributed 42 million RMB, representing 10.93% of total revenue[34]. - The company reduced R&D expenses by 54.81% to 2.87 million RMB due to a decrease in R&D personnel[36]. - The company is focusing on optimizing offline store operations and expanding online retail channels[34]. - The company plans to expand online and shopping center channels to mitigate risks from traditional retail competition[45]. - The company aims to strengthen inventory management and control to prevent losses from unsold stock[46]. Financial Position - Cash and cash equivalents increased by 227.95% to ¥131.29 million, compared to ¥40.03 million in the same period last year[38]. - Trading financial assets decreased by 38.11% to ¥223.78 million, down from ¥361.61 million year-on-year[38]. - Accounts receivable decreased by 23.56% to ¥75.88 million, compared to ¥99.26 million in the previous year[38]. - Inventory decreased by 11.82% to ¥409.77 million, down from ¥464.68 million year-on-year[38]. - Deferred income tax assets increased by 36.38% to ¥42.48 million, compared to ¥31.15 million in the same period last year[38]. - The company purchased bank wealth management products totaling ¥331 million and redeemed ¥110 million during the reporting period[40]. - The company’s external sales revenue significantly decreased by 83.2%, with external sales achieving ¥14 million in the first half of 2020[47]. - The company’s inventory accounted for 36.92% of total assets, amounting to ¥409.77 million, despite a 12.4% decrease from the previous year[46]. Shareholder Information - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[4]. - There were no instances of non-operating fund occupation by controlling shareholders or related parties during the reporting period[5]. - The actual controller and shareholders have committed to not reducing their holdings within the lock-up period, which lasts until June 28, 2021[52]. - After the lock-up period, shareholders are required to sell their shares at a price not lower than the issuance price[53]. - The company has established commitments to avoid engaging in competitive businesses during the holding period of its shares[53]. - The company will ensure that any future business activities do not compete with its current operations[53]. - Shareholders must announce any significant reductions in holdings (over 5%) three trading days in advance[53]. - The company has outlined measures to address potential conflicts of interest arising from changes in national policies[53]. Compliance and Governance - The company has not experienced any major litigation or arbitration matters during the reporting period[56]. - The company has adhered to environmental protection regulations and is not classified as a key pollutant discharge unit[62]. - There were no significant changes in the company's accounting policies or estimates compared to the previous accounting period[62]. - The company has not reported any major accounting errors that require retrospective restatement during the reporting period[63]. - The company has maintained its total share capital and structure without any changes during the reporting period[65]. Future Outlook - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[98]. - The company is exploring new strategies for market expansion and potential acquisitions to drive future growth[98].

2020 年第一季度报告 公司代码：603958 公司简称：哈森股份 哈森商贸（中国）股份有限公司 2020 年第一季度报告 1 / 24 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 8 | 2020 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减(%) | | | 总资产 | 1,169,884,914.50 | 1,269,141,826.31 | | -7.82 | | 归属于上市公司 | 1,022,057,597.61 | 1,023,407,084.38 | | -0.13 | | 股东的净资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | 经营活动产生的 | -46,126,095.88 | -26,030,558.24 | | 不适用 | | 现金流量净 ...

Financial Performance - The company's operating revenue for 2019 was CNY 1,235,692,550.74, a decrease of 8.31% compared to CNY 1,347,678,813.40 in 2018[21] - The net profit attributable to shareholders for 2019 was CNY 9,461,917.28, a significant recovery from a loss of CNY 62,373,999.41 in 2018[21] - The total revenue for 2019 was impacted by a 2.9% increase in retail sales of clothing, shoes, and textiles, which was lower than the overall retail sales growth of 8.0%[34] - The company achieved a total revenue of 1.24 billion RMB in 2019, a decrease of 8.31% year-on-year[42] - Domestic sales revenue was 1.07 billion RMB, down 13.10% compared to the previous year, while export sales revenue increased by 40.58% to 168 million RMB[43] - The company reported a total comprehensive income of CNY 6,751,193.34 in 2019, compared to a loss of CNY 67,369,081.98 in 2018[190] Cash Flow and Assets - The net cash flow from operating activities was CNY 49,381,180.70, down 8.44% from CNY 53,933,641.21 in the previous year[22] - The total assets at the end of 2019 were CNY 1,269,141,826.31, a decrease of 3.69% from CNY 1,317,716,727.01 in 2018[22] - The cash flow from operating activities for the parent company was negative at approximately -¥21.97 million in 2019, a decline from a positive cash flow of ¥73.86 million in 2018[198] - The ending balance of cash and cash equivalents as of December 31, 2019, was approximately ¥420.22 million, up from ¥371.30 million at the end of 2018, representing an increase of about 13.2%[197] Shareholder Returns and Dividends - The company plans to distribute a cash dividend of CNY 0.3 per 10 shares, totaling CNY 6,520,800 based on the total share capital as of December 31, 2019[5] - The company plans to distribute a cash dividend of CNY 0.30 per 10 shares, totaling CNY 6,520,800 for the year 2019, reflecting a payout ratio of 68.92% of the net profit attributable to ordinary shareholders[82][83] Operational Efficiency - The company reduced its management expenses by 30.96% to 58.45 million RMB, primarily due to significant severance benefits incurred in the previous year[46] - The gross profit margin for the wholesale and retail sector was 52.17%, reflecting a decrease of 0.54 percentage points year-on-year[49] - The company’s online sales channel contributed 7.13% of total revenue, amounting to 88 million RMB[43] - The company operates a multi-brand strategy, with its own brands including HARSON, KADINA, and ROBERTA, and also represents international brands like AS and PIKOLINOS[31] Legal and Compliance Issues - The company has faced a significant lawsuit involving a claim of RMB 50,000,000 related to intellectual property rights, with a settlement agreement reached to pay RMB 1,500,000[95] - The company has ongoing litigation against multiple subsidiaries of Xinglong Group, indicating potential future cash flow issues[97] - The company has no outstanding court judgments or significant debts that remain unpaid during the reporting period[99] Governance and Management - The company held 5 board meetings during the reporting period, with all directors actively participating and fulfilling their responsibilities[158] - The company’s management team is structured with clear divisions of responsibility, ensuring effective decision-making and oversight[155] - The company revised its articles of association in accordance with updated regulations to enhance corporate governance[154] Employee and Management Compensation - The total pre-tax remuneration for the chairman, Chen Yuzhen, was CNY 1.2 million[138] - The total pre-tax remuneration for the general manager, Chen Fangde, was CNY 696,000[138] - The total pre-tax remuneration for the vice general manager, Chen Zhixian, was CNY 468,000[138] - The remuneration for all directors, supervisors, and senior management totaled 5.7634 million yuan at the end of the reporting period[146] Market and Industry Trends - The footwear industry is experiencing a shift towards online retail, with e-commerce sales growing by 19.5% in 2019, indicating a need for companies to adapt to changing consumer behaviors[34] - The company is facing risks related to channel changes, particularly from the increasing competition of online and shopping center channels against traditional department store sales[77] Research and Development - R&D expenses totaled ¥12,772,161.88, accounting for 1.03% of operating revenue, with no capitalized R&D expenditures[57] - Research and development expenses decreased to CNY 12,772,161.88 in 2019 from CNY 13,862,000.16 in 2018, reflecting a focus on cost management[188]

Financial Performance - Operating revenue for the first nine months decreased by 10.60% to CNY 881,911,231.71 compared to the same period last year[6]. - Net profit attributable to shareholders decreased by 87.20% to CNY 939,761.27 for the first nine months compared to the same period last year[6]. - The company reported a significant decrease in other income by 55.80% to CNY 14,130,423.34 due to reduced government subsidies received[12]. - Total revenue for Q3 2019 was ¥247,581,224.21, a decrease of 5.4% compared to ¥261,529,107.04 in Q3 2018[25]. - Net profit for Q3 2019 was a loss of ¥7,879,317.91, compared to a loss of ¥31,004,758.91 in Q3 2018, indicating an improvement[26]. - The company reported a total profit of CNY -1,426,746.95 in Q3 2019, an improvement from CNY -44,991,598.01 in Q3 2018[30]. - Total comprehensive income attributable to the parent company was CNY -7,910,659.26 in Q3 2019, compared to CNY -30,672,858.67 in Q3 2018[28]. Cash Flow - Net cash flow from operating activities decreased by 63.90% to CNY 15,441,037.95 compared to the same period last year[14]. - The net cash flow from operating activities for the first three quarters of 2019 was CNY 15,441,037.95, down from CNY 42,770,657.27 in 2018, indicating a significant decline of approximately 63.9%[34]. - The company reported a total cash outflow from investing activities of CNY 320,668,456.63 in the first three quarters of 2019, compared to CNY 57,608,664.88 in the same period of 2018, reflecting a substantial increase in investment expenditures[34]. - The net cash flow from investing activities was -CNY 315,203,822.74 for the first three quarters of 2019, worsening from -CNY 44,951,825.77 in 2018[34]. - The company experienced a net cash outflow from financing activities of -CNY 18,081,215.00 in the first three quarters of 2019, compared to -CNY 38,432,384.91 in the same period of 2018, indicating a reduced outflow[35]. Assets and Liabilities - Total assets decreased by 4.91% to CNY 1,253,037,308.16 compared to the end of the previous year[6]. - As of September 30, 2019, total current assets amounted to 1,027,855,924.67 RMB, a decrease from 1,093,561,304.55 RMB at the end of 2018[19]. - The company's cash and cash equivalents were reported at 53,538,494.61 RMB, down from 371,301,677.76 RMB at the end of 2018[19]. - Total liabilities decreased to 233,672,940.04 RMB from 297,777,619.07 RMB at the end of 2018[21]. - The total assets as of September 30, 2019, were 1,253,037,308.16 RMB, down from 1,317,716,727.01 RMB at the end of 2018[21]. - Total current assets amounted to CNY 1,093,561,304.55, with cash and cash equivalents at CNY 371,301,677.76[42]. - Total liabilities were reported at CNY 297,777,619.07, with current liabilities totaling CNY 296,673,008.96[43]. Shareholder Information - The number of shareholders reached 16,632 at the end of the reporting period[9]. - The total equity attributable to shareholders was 1,014,302,511.73 RMB, showing a slight increase from 1,013,376,149.36 RMB at the end of 2018[21]. - Shareholders' equity stood at CNY 1,019,939,107.94, reflecting a strong equity position[44]. Expenses - The company's management expenses decreased by 28.07% to CNY 41,818,141.65 compared to the same period last year[12]. - Total operating costs for Q3 2019 were ¥259,955,680.43, down 10.6% from ¥290,871,372.44 in Q3 2018[25]. - The company’s total operating expenses in Q3 2019 were CNY 176,186,152.56, down from CNY 202,519,000.87 in Q3 2018[29]. - Research and development expenses for Q3 2019 were ¥4,916,356.28, up from ¥3,241,324.02 in Q3 2018, indicating a 51.6% increase[25]. - R&D expenses in Q3 2019 were CNY 265,467.76, significantly lower than CNY 1,800,978.63 in Q3 2018[29]. Investments - Long-term equity investments increased by 101.63% to CNY 30,145,822.37 due to fulfilling investment obligations in subsidiaries[13]. - The company reported an investment income of ¥6,377,571.67 for Q3 2019, compared to ¥4,414,644.05 in Q3 2018, reflecting a growth of 44.5%[26]. - The company’s investment payments in the first three quarters of 2019 totaled CNY 319,640,000.00, a significant increase from CNY 30,020,000.00 in the same period of 2018, indicating aggressive investment strategies[39].