Financial Performance - The company's operating revenue for the first half of 2021 reached approximately CNY 276.70 million, representing a 42.63% increase compared to CNY 194.00 million in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was approximately CNY 76.27 million, a 34.63% increase from CNY 56.65 million in the previous year[17]. - The basic earnings per share decreased by 19.77% to CNY 0.69 from CNY 0.86 in the same period last year[17]. - The net cash flow from operating activities increased by 77.55% to approximately CNY 57.88 million, compared to CNY 32.60 million in the previous year[17]. - The total assets of the company at the end of the reporting period were approximately CNY 1.13 billion, a 1.92% increase from CNY 1.10 billion at the end of the previous year[17]. - The net assets attributable to shareholders increased by 3.28% to approximately CNY 1.01 billion from CNY 982.55 million at the end of the previous year[17]. - The weighted average return on net assets decreased by 7.84 percentage points to 7.47% from 15.31% in the previous year[17]. - The company reported a decrease of 16.88% in the basic earnings per share after deducting non-recurring gains and losses, down to CNY 0.64 from CNY 0.77[17]. - The net profit after deducting non-recurring gains and losses was approximately CNY 70.06 million, a 37.91% increase from CNY 50.80 million in the previous year[17]. Market and Industry Insights - The home textile industry in China saw a revenue growth of 22.83% and a profit growth of 10.75% from January to May 2021, with specific segments like bedding experiencing a revenue increase of 27.18% and profit growth of 41.28%[19]. - Exports of home textile products reached $17.646 billion in the first five months of 2021, marking a year-on-year increase of 57.34%, with export volume up by 50.7% and average price up by 4.42%[19]. - The company’s main products, including decorative fabrics and sofa covers, are primarily sold in the U.S. market, with significant partnerships with major furniture manufacturers[22]. - The company reported a stable growth in domestic sales, with a year-on-year increase of 21.25% in the first five months of 2021, and a 3.48% increase compared to the same period in 2019[21]. - The U.S. market for home textile exports grew by 72.64% year-on-year, reaching $4.404 billion, outperforming the global average growth rate[21]. - The company’s export of bedding, fabric products, and carpets accounted for 78.7% of total exports, with significant growth rates of 58.28%, 58.26%, and 71.38% respectively[20]. - The ASEAN market has become the second-largest export market for the company, with a year-on-year growth of 62.65% in the first five months of 2021[21]. Research and Development - The company has established a strong design and R&D team, focusing on innovative fabric technologies and maintaining industry-leading technical indicators[24]. - The company's R&D expenses for the first half of 2021 amounted to CNY 8,833,063.69, reflecting a growth of 23.12% year-on-year[30]. - The company plans to continue increasing investment in design, with design expenses accounting for approximately 43.48% of R&D costs in the first half of 2021[25]. - The company emphasizes new product development to maintain market share in the fashion-driven textile industry[43]. Operational Efficiency - The company employs a "make-to-order" production model, which helps reduce inventory and improve cash flow management[23]. - The company maintained a stable customer base, primarily consisting of internationally renowned furniture manufacturers, which contributes to stable product demand[26]. - The company has established a comprehensive product quality management system, ensuring compliance with international quality standards through rigorous testing[26]. - The company is located in Hangzhou, Zhejiang Province, benefiting from a well-developed textile industry cluster that supports raw material procurement and logistics[27]. Financial Management - The company reported a contract liability of 2,291,703.53 RMB, an increase of 50.15% compared to the previous period[33]. - The company has total foreign assets of 8,001.20 million RMB, accounting for 7.11% of total assets[34]. - The company invested CNY 12,108.13 million in the fundraising project for the construction of a high-end decorative fabric production line and R&D center, with total investment reaching CNY 31,850.97 million, exceeding 60% of the total project investment[28]. - The company's gross profit margin was impacted by a 70.31% increase in operating costs, primarily due to rising material prices and logistics costs[30]. - The company plans to improve capital efficiency and control funding costs while enhancing internal controls and cost management[60]. Shareholder and Governance - The company has made commitments regarding shareholding restrictions, including a 36-month lock-up period for major shareholders[55]. - Major shareholders have pledged not to transfer or manage their shares during the lock-up period and to maintain a minimum selling price post-lock-up[58]. - The company has received commitments from its actual controllers and major shareholders to avoid any direct or indirect competition with its existing business[58]. - The controlling shareholders have committed to not interfere with the company's management and to protect company interests[62]. - The company has not proposed any profit distribution or capital reserve transfer for the half-year period[47]. Environmental and Regulatory Compliance - The company is not classified as a key pollutant discharge unit and has not faced any administrative penalties related to environmental issues[50]. - The company holds an Environmental Management System Certification that complies with GB/T24001-2016/ISO 14001:2015 standards, valid until June 13, 2023[51]. - The company has established various environmental management procedures to enhance pollution control since its inception[50]. - There are no reported measures taken to reduce carbon emissions during the reporting period[52]. Legal and Compliance Status - There were no significant lawsuits or arbitration matters reported during the reporting period, indicating a stable legal environment for the company[68]. - The company has not engaged in any significant related party transactions during the reporting period, reflecting a focus on operational integrity[70]. - The company’s integrity status remains good, with no unfulfilled court judgments or significant overdue debts reported[68]. - The company has not faced any penalties or corrective actions related to violations of laws or regulations during the reporting period[68]. Accounting and Financial Reporting - The financial report is prepared in RMB, with the balance sheet as of June 30, 2021, being part of the audit report[86]. - The company's accounting period runs from January 1 to December 31 each year[123]. - The company has adopted a short operating cycle of 12 months for classifying assets and liabilities[124]. - The company's functional currency for accounting purposes is RMB[125]. - The company utilizes the equity method for joint ventures and recognizes its share of assets, liabilities, and income accordingly[128]. Cash Flow and Investments - The company reported a total cash balance of CNY 337,970,027.92 at the end of the period, down from CNY 399,219,081.79 at the beginning[189]. - The total amount of funds held overseas was CNY 8,655,993.56, down from CNY 11,073,006.73[190]. - The company received government subsidies that are recognized as deferred income, impacting future financial performance[180]. - The company’s accounting policies include the treatment of government subsidies related to assets and income, affecting overall financial reporting[180].

Financial Performance - Net profit attributable to shareholders rose by 50.01% to CNY 42,105,653.85 year-on-year[5] - Operating revenue grew by 36.42% to CNY 141,483,089.38 compared to the same period last year[5] - Total revenue for Q1 2021 reached ¥141,483,089.38, an increase of 36.5% compared to ¥103,707,632.52 in Q1 2020[21] - Net profit for Q1 2021 was ¥42,105,653.85, representing a 50.1% increase from ¥28,068,665.02 in Q1 2020[22] - Operating profit for Q1 2021 was ¥48,503,256.82, a rise of 44.5% compared to ¥33,565,720.75 in Q1 2020[22] - The company's total equity rose to ¥1,024,729,006.57, compared to ¥982,553,876.29 at the end of 2020[15] - The company's equity increased to ¥1,007,505,094.44 in Q1 2021, up from ¥966,341,272.10 in Q1 2020, indicating a growth of 4.3%[19] - The net profit for Q1 2021 was CNY 41,163,822.34, up 51.3% from CNY 27,204,264.73 in Q1 2020[24] - Basic and diluted earnings per share for Q1 2021 were both CNY 0.48, compared to CNY 0.43 in Q1 2020, reflecting an increase of 11.6%[23] Assets and Liabilities - Total assets increased by 4.38% to CNY 1,152,757,498.32 compared to the end of the previous year[5] - Total assets as of March 31, 2021, amounted to ¥1,152,757,498.32, up from ¥1,104,375,457.26 at the end of 2020[14] - Total liabilities increased to ¥128,028,491.75 from ¥121,821,580.97, indicating a rise in financial obligations[15] - Total liabilities rose to ¥131,874,547.21 in Q1 2021, compared to ¥127,509,708.66 in Q1 2020, marking an increase of 2.0%[19] - Cash and cash equivalents stood at ¥400,803,511.31, slightly up from ¥399,219,081.79[13] - The ending balance of cash and cash equivalents was $137,639,857.24, significantly higher than $14,168,353.62 from the previous year[30] Cash Flow - Net cash flow from operating activities decreased by 70.64% to CNY 8,739,051.01 compared to the previous year[5] - Cash received from operating activities decreased by 44.62% to ¥2,599,133.97 compared to the previous period[11] - Cash flow from operating activities for Q1 2021 was CNY 8,739,051.01, down 70.7% from CNY 29,766,384.09 in Q1 2020[26] - The net cash flow from operating activities was $3,651,477.61, a decrease of 86.7% compared to $27,425,853.18 in the previous year[30] - The net cash flow from investing activities was -$235,921,100.18, compared to -$46,323,429.96 in the previous year, indicating a significant increase in cash outflow[30] - The total cash outflow from investment activities reached $360,093,262.93, an increase of 52.8% from $235,729,874.65[30] Expenses - Total operating costs for Q1 2021 were ¥97,156,131.85, up 34.2% from ¥72,403,412.72 in Q1 2020[21] - The total operating expenses for Q1 2021 were CNY 86,602,934.26, which is an increase from CNY 63,100,000.00 in Q1 2020[23] - Research and development expenses for Q1 2021 were ¥4,550,274.54, compared to ¥4,083,538.93 in Q1 2020, showing an increase of 11.5%[21] - Sales expenses decreased by 57.95% to CNY 3,423,885.34 due to reclassification of logistics costs[10] Shareholder Information - The number of shareholders reached 8,220 at the end of the reporting period[8] - The largest shareholder, Hangzhou Zhongwang Industrial Co., Ltd., holds 73.35% of the shares[8] Taxation - Tax payments increased by 75.79% to ¥15,909,736.17 due to higher income tax payments in the current period[11] - The company received tax refunds of CNY 11,683,110.76 in Q1 2021, compared to CNY 9,438,475.19 in Q1 2020, indicating a 24.0% increase[27] Other Financial Metrics - The weighted average return on equity decreased by 3.69 percentage points to 4.20%[5] - The company reported a financial income of ¥4,467,465.80 in Q1 2021, a significant improvement from a financial expense of ¥1,349,097.45 in Q1 2020[21] - Other comprehensive income after tax for Q1 2021 was ¥69,476.43, down from ¥248,542.79 in Q1 2020, reflecting a decrease of 72.0%[22] - The company reported a net profit forecast for the year without significant changes compared to the previous year[11]

Financial Performance - In 2020, the company's operating revenue reached ¥495,420,535.33, representing a 1.44% increase compared to ¥488,366,133.43 in 2019[23] - The net profit attributable to shareholders was ¥140,483,096.97, marking a 12.93% increase from ¥124,403,474.27 in the previous year[23] - Basic earnings per share for 2020 were ¥1.96, up 4.26% from ¥1.88 in 2019[24] - The weighted average return on equity decreased to 26.18% from 42.51% in 2019, a decline of 16.33 percentage points[24] - The net cash flow from operating activities was ¥144,200,515.05, a 4.75% increase from ¥137,663,145.73 in 2019[23] - The company achieved a revenue of RMB 494.42 million in 2020, representing a year-on-year growth of 1.44%[51] - The net profit attributable to shareholders was RMB 140.48 million, with a year-on-year increase of 12.93%[51] - The company reported a total cost of 284,421,455.78, which is a 2.22% increase from 278,250,782.82 in the previous year[63] - The company reported a total of ¥576,969,159.04 in capital reserves in 2020, compared to ¥96,969,159.04 in 2019, reflecting a growth of approximately 494.0%[186] Assets and Liabilities - The company's total assets as of December 31, 2020, amounted to ¥1,104,375,457.26, a 146.60% increase from ¥447,835,760.03 at the end of 2019[23] - The net assets attributable to shareholders increased by 187.59% to ¥982,553,876.29 from ¥341,649,067.86 in 2019[23] - Total liabilities amounted to ¥121,821,580.97 in 2020, an increase from ¥106,186,692.17 in 2019, which is an increase of about 14.5%[186] - Owner's equity rose significantly to ¥982,553,876.29 in 2020 from ¥341,649,067.86 in 2019, marking an increase of approximately 187.5%[186] - Cash and cash equivalents were reported at ¥399,219,081.79 in 2020, compared to ¥109,559,506.97 in 2019, showing a substantial increase of about 264.5%[184] Market and Industry Insights - In 2020, the home textile industry saw a revenue decline of approximately 30% in Q1 due to the pandemic, but it recovered to a near year-on-year level by the end of the year[36] - The total revenue for 2020 among 1,796 large-scale home textile enterprises was ¥185.73 billion, a slight decrease of 0.76% year-on-year, while total profit increased by 14.73% to ¥10.446 billion[36] - The company’s revenue from the fabric sector increased by 11.04% year-on-year, with total profit rising by 42.74%[36] - The U.S. sofa market is expected to grow, positively impacting the demand for the company's fabric products[79] Research and Development - The company has developed 1,798 fabric patterns and 26,859 styles, launching a new eco-friendly fabric series "Z-CYCLE" made from over 30% recycled materials[49] - The company has a strong design and R&D team, with design expenses accounting for approximately 40.64% and 42.74% of R&D costs in 2019 and 2020, respectively[43] - The total R&D expenditure amounted to 17,511,907.25, representing 3.53% of total operating revenue[64] Shareholder and Governance - The company has commitments from major shareholders to avoid transferring or managing their shares for 36 months post-IPO, ensuring stability in shareholding[92] - The company has a commitment to avoid any direct or indirect competition with its existing business from its major shareholders and actual controllers[96] - The company has established a plan to limit any share reduction to no more than 6% of the total share capital in the two years following the lock-up period[95] - The company has a policy that any dividends or stock bonuses will adjust the issuance price accordingly[95] - The company has committed to publicly disclose any failure to fulfill its commitments and apologize to shareholders if necessary[94] Operational Risks and Challenges - The company faces market risks due to competition from international fabric manufacturers and must adapt to market changes to maintain its competitive position[83] - The company is exposed to operational risks related to the fast-changing consumer preferences in the fashion industry, which may affect new product development[83] - The company has a high proportion of overseas sales, primarily settled in USD, making it vulnerable to exchange rate fluctuations[84] Corporate Social Responsibility - The company donated RMB 30,000 to the Red Cross Society in Hangzhou during the COVID-19 outbreak and provided 11,000 masks to affected regions later in the year[117] - The company has implemented various environmental management procedures to mitigate pollution from its operations[119] Employee and Management Structure - The total number of employees in the parent company is 500, while the total number of employees in major subsidiaries is 154, resulting in a combined total of 654 employees[154] - The company emphasizes talent cultivation and provides a broad career development platform through targeted training programs, including new employee training and leadership training[156] - The professional composition of employees includes 525 production personnel, 14 sales personnel, 64 technical personnel, 9 financial personnel, and 42 administrative personnel[154] Audit and Compliance - The company conducted a thorough audit of its financial statements, confirming they fairly reflect its financial position as of December 31, 2020[170] - The audit aims to provide reasonable assurance that the financial statements are free from material misstatement due to fraud or error[178] - There were no significant internal control deficiencies reported during the period[166]

2020 年第三季度报告 公司代码：605003 简称：众望布艺 众望布艺股份有限公司 2020 年第三季度报告 1/20 单位：元 币种：人民币 1.2 公司全体董事出席董事会审议季度报告。 | 目录 | | --- | 1.3 公司负责人杨林山、主管会计工作负责人张盈及会计机构负责人（会计主管人员）李九香保 证季度报告中财务报表的真实、准确、完整。 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 1.4 本公司第三季度报告未经审计。 2020 年第三季度报告 二、 公司基本情况 一、 重要提示 2.1 主要财务数据 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。 | | 本报告期末 | | 上年度末 | | 本报告期末比上 年度末增减(%) | | | --- | --- | --- | --- | --- | --- | --- | | 总资产 | 1,032 ...