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].

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 634,330,007.50, a decrease of 12.50% compared to CNY 724,952,428.77 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 8,828,548.79, down 76.77% from CNY 38,001,699.11 in the previous year[18]. - The net cash flow from operating activities was CNY 6,494,925.60, a significant decline of 88.56% compared to CNY 56,774,890.58 in the same period last year[19]. - The basic earnings per share decreased to CNY 0.04, down 76.47% from CNY 0.17 in the previous year[20]. - The total assets at the end of the reporting period were CNY 1,225,106,342.35, a decrease of 7.03% from CNY 1,317,716,727.01 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased slightly by 0.87% to CNY 1,022,213,170.99 from CNY 1,013,376,149.36 at the end of the previous year[19]. - The company reported a significant reduction in government subsidies received during the reporting period compared to the previous year, impacting net profit[20]. - The weighted average return on net assets decreased to 0.87%, down 2.32 percentage points from 3.19% in the previous year[20]. - The company achieved operating revenue of 634.33 million RMB, a decrease of 12.50% compared to the same period last year[34]. - Net profit attributable to the parent company was 8.83 million RMB, down 76.77% year-on-year[34]. Sales and Market Performance - Domestic sales revenue was 551.92 million RMB, a decline of 17.62%, while foreign sales revenue increased by 49.92% to 82.41 million RMB[34]. - The number of domestic stores decreased by 56, all of which were direct-operated stores, leaving a total of 1,532 stores[34]. - The domestic footwear market saw a sales revenue of 600 billion USD in 2018, with a growth rate of 5.1%[27]. - Online retail sales in China accounted for 19.6% of total retail sales in the first half of 2019, up from 18.4% the previous year[26]. Research and Development - The company’s R&D expenses were 6.36 million RMB, down 35.45% from the previous year[36]. - The company is investing 50 million in research and development for new technologies aimed at enhancing user experience[52]. - Research and development expenses for the first half of 2019 were CNY 6,361,143.52, down 35.5% from CNY 9,854,461.34 in the first half of 2018[91]. Cash Flow and Liquidity - The company's cash and cash equivalents decreased by 89.22% to ¥40,033,732.48, compared to ¥371,301,677.76 in the previous period[37]. - Other current assets increased significantly by 1,566.84% to ¥368,989,420.21, attributed to an increase in purchased financial products[37]. - Accounts payable decreased by 39.95% to ¥113,166,314.96, down from ¥188,463,415.78 in the previous period[37]. - The company's net cash flow from operating activities decreased due to a reduction in revenue[37]. - The company reported a 45.44% decrease in payable taxes, amounting to ¥6,761,933.21, down from ¥12,394,641.91[40]. Risks and Challenges - The company is facing risks related to channel changes, particularly the competition from online sales and shopping centers affecting traditional department store sales[44]. - Inventory control risks are present due to low turnover rates and potential overstocking, which could lead to losses if not managed properly[44]. - The company experienced a decline in export sales, with revenues dropping from ¥269 million in 2016 to ¥120 million in 2018, although there was a slight recovery in 2019[45]. Strategic Initiatives - The company plans to enhance online store operations and expand into shopping center channels to mitigate channel risk[44]. - The company is considering strategic acquisitions to bolster its product offerings, with a budget of 200 million allocated for potential deals[52]. - Market expansion plans include entering three new international markets by Q4 2019, which is expected to increase market share by 10%[52]. Shareholder and Equity Information - 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 ending on June 29, 2019[49]. - After the lock-up period, the company will limit the number of shares transferred annually to no more than 25% of the total indirect shares held during the tenure of the executives[49]. - The company will announce any share reduction plans at least three trading days in advance if the shareholding exceeds 5%[50]. - The company has confirmed that all commitments made by shareholders and related parties have been fulfilled during the reporting period[49]. - The total number of shares decreased from 219,906,650 to 219,896,600 due to the cancellation of 10,050 shares[67]. Compliance and Regulatory Matters - There are no significant legal disputes or regulatory issues reported during the period, ensuring a stable operational environment[54]. - The company has committed to maintaining compliance with all financial regulations, with no outstanding debts or penalties reported[54]. Accounting Policies and Financial Reporting - The company has adjusted its accounting policies in accordance with new financial instrument standards effective from January 1, 2019, but this will not have a significant impact on financial statements[61]. - The company prepared its financial statements in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of its financial status and operating results[125]. - The company evaluates its ability to continue as a going concern for the next 12 months and found no significant doubts regarding its ongoing viability[123]. Financial Instruments and Investments - The company classifies financial instruments into three categories: financial assets measured at amortized cost, financial assets measured at fair value with changes recognized in other comprehensive income, and financial assets measured at fair value with changes recognized in profit or loss[144][145]. - The company recognizes foreign currency transactions at the spot exchange rate on the transaction date, with any exchange differences recorded in the current profit or loss[141]. - The company assesses expected credit losses based on the risk of default for financial assets measured at amortized cost and fair value, confirming loss provisions accordingly[160]. Fixed Assets and Depreciation - Fixed assets are recognized when they are held for production, service provision, leasing, or management, with a useful life exceeding one accounting year[191]. - The depreciation method for fixed assets includes straight-line depreciation with varying rates, such as 4.5% for buildings and 10% for machinery[191]. - Borrowing costs can be capitalized if they are directly attributable to the acquisition or production of qualifying assets[198].