Financial Performance - The company's operating revenue for 2021 reached RMB 842.44 million, representing a 44.91% increase compared to RMB 581.34 million in 2020[20]. - The net profit attributable to shareholders was RMB 219.51 million, up 37.59% from RMB 159.54 million in the previous year[20]. - The net assets attributable to shareholders increased by 139.74% to RMB 1.62 billion from RMB 675.54 million at the end of 2020[21]. - The total assets rose by 112.52% to RMB 1.83 billion compared to RMB 859.41 million at the end of 2020[21]. - Basic earnings per share for 2021 were RMB 2.37, a 12.86% increase from RMB 2.10 in 2020[22]. - The company reported a net profit of RMB 198.67 million after deducting non-recurring gains and losses, which is a 44.93% increase from RMB 137.08 million in 2020[20]. - The company achieved operating revenue of RMB 842.44 million in 2021, representing a year-on-year growth of 44.91%[32]. - The net profit attributable to shareholders increased by 37.59% year-on-year, reaching RMB 219.51 million[32]. - The net profit after deducting non-recurring gains and losses grew by 44.93% compared to the previous year[23]. Cash Flow and Dividends - The cash flow from operating activities decreased by 30.69% to RMB 142.59 million from RMB 205.71 million in 2020[21]. - The company plans to distribute a cash dividend of RMB 4.50 per 10 shares to all shareholders[5]. - The company achieved a net profit attributable to shareholders of RMB 219,512,536.97 for the year 2021, with a total distributable profit of RMB 502,830,249.90 at year-end[112]. - A cash dividend of RMB 4.50 per 10 shares (including tax) is proposed, amounting to a total of RMB 45,505,620.00 (including tax), which represents 20.73% of the net profit attributable to shareholders[113]. Operating Costs and Expenses - Operating costs rose by 49.62%, attributed to the increase in operating revenue and adjustments of transportation costs related to performance obligations into operating costs[45]. - Management expenses increased by 59.49% year-on-year, mainly due to business growth leading to higher personnel, office, and hospitality expenses, as well as costs associated with the company's listing[45]. - Research and development expenses increased by 42.41% to 29.62 million RMB, reflecting the company's commitment to innovation[43]. - The company's main business cost for the reporting period was 515.83 million RMB, an increase of 50.06% compared to the same period last year, primarily due to increased production volume and rising prices of raw materials[54]. Market and Product Development - The company reported a significant increase in sales of new products, including inflatable mattresses and waterproof bags, contributing to revenue growth[23]. - The outdoor sports market is projected to grow from 160 billion USD in 2020 to 236.34 billion USD by 2025, with a CAGR of approximately 6.86%[35]. - The company established a strategic partnership with Decathlon, enhancing its market presence and product range[40]. - The company plans to continue expanding its market presence and enhancing production efficiency to maintain its leading position in the outdoor products sector[32]. Inventory and Production - The sales volume of inflatable mattresses reached 4,233,399 units, with a production volume of 4,546,448 units, reflecting a 66.50% increase in inventory[50]. - Inventory increased by 73.96% to 255,079,924.85 RMB, primarily due to increased raw material procurement[65]. - Fixed assets rose by 42.21% to 349,650,626.66 RMB, attributed to the construction of investment projects[65]. Financial Management and Investments - The company reported a significant decrease in financial expenses by 98.48%, indicating improved financial management[43]. - The company has committed RMB 200,000 to support the construction of a rural cultural hall and another RMB 200,000 for sports development in Tian Tai County[122]. - The company has engaged in structured deposits totaling RMB 50 million with an annualized return rate of 1.30%-3.50%, yielding an actual return of RMB 810,273.97[169]. - The company has ongoing investments in negotiable certificates of deposit amounting to RMB 50 million and RMB 60 million, both with an annualized return rate of 3.35%[169]. Governance and Compliance - The company is committed to maintaining transparency and compliance with regulatory requirements, as evidenced by the detailed disclosures in its annual report[84]. - The company has established a comprehensive internal control system in compliance with relevant laws and regulations, ensuring the protection of shareholders and creditors' rights[118]. - The company has not reported any issues regarding the self-inspection of governance actions[119]. - The company has not disclosed any internal control audit reports, indicating a standard unqualified opinion[119]. Shareholder Information and Stock Management - The company issued 25,280,900 new shares, increasing the total share capital from 75,842,700 to 101,123,600 shares[176]. - The largest shareholder, Shanghai Yangda Enterprise Management Co., Ltd., holds 54,000,000 shares, representing 53.40% of total shares[184]. - The company has a total of 6,750,000 shares with limited sale conditions, which will be tradable starting May 6, 2024[188]. - The company will prioritize cash dividends over stock dividends in its profit distribution policy[132]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, high customer concentration, exchange rate volatility, and raw material price fluctuations[77][78]. - The company reported significant revenue growth in the previous year, but ongoing global COVID-19 pandemic risks could adversely affect its export business[79].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 330,142,622.23, representing a year-on-year increase of 46.61%[4] - The net profit attributable to shareholders for the same period was CNY 84,979,883.09, reflecting a growth of 37.82% compared to the previous year[4] - The basic earnings per share (EPS) for Q1 2022 was CNY 0.84, an increase of 3.70% year-on-year[4] - Total operating revenue for Q1 2022 was RMB 330,142,622.23, an increase from RMB 225,179,055.11 in Q1 2021, representing a growth of approximately 46.6%[16] - Net profit for Q1 2022 reached ¥86,686,495.52, a 40.6% increase compared to ¥61,660,690.96 in Q1 2021[19] - The company reported a basic earnings per share of ¥0.84, up from ¥0.81 in the same quarter last year[19] Cash Flow - The net cash flow from operating activities was negative at CNY -2,374,027.80, indicating a significant cash outflow[4] - Cash inflow from operating activities totaled ¥252,083,685.90, compared to ¥171,784,481.45 in Q1 2021, marking a 46.7% increase[21] - Cash outflow from operating activities was ¥254,457,713.70, resulting in a net cash flow from operating activities of -¥2,374,027.80, down from ¥11,039,271.39 in the previous year[21] - Investment activities generated a net cash flow of -¥97,633,018.76, compared to -¥18,292,807.96 in Q1 2021[22] - The company’s cash and cash equivalents at the end of Q1 2022 were ¥438,238,369.17, down from ¥125,223,438.88 at the end of Q1 2021[22] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 1,907,080,888.04, up 4.42% from the end of the previous year[5] - Current assets as of March 31, 2022, totaled RMB 1,362,974,187.36, compared to RMB 1,299,550,987.55 as of December 31, 2021, indicating an increase of about 4.9%[12] - Total assets reached RMB 1,907,080,888.04 as of March 31, 2022, up from RMB 1,826,400,314.97 at the end of 2021, reflecting a growth of approximately 4.4%[14] - Total liabilities as of March 31, 2022, were RMB 200,845,233.40, down from RMB 206,851,155.85, indicating a decrease of approximately 2.9%[14] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 3,546[9] - The top shareholder, Shanghai Yangda Enterprise Management Co., Ltd., held 54,000,000 shares, accounting for 53.40% of total shares[9] Expenses and Costs - Total operating costs increased to ¥232,435,908.92, up 46.8% from ¥158,243,972.96 in the previous year[18] - The company incurred a tax expense of ¥14,592,888.40, compared to ¥10,029,870.51 in the previous year, reflecting a 45.7% increase[19] - The company’s research and development expenses for Q1 2022 were ¥6,293,531.25, up from ¥4,760,349.36 in Q1 2021, indicating a 32.2% increase[18] Other Financial Metrics - The weighted average return on equity (ROE) was 5.11%, a decrease of 3.62% compared to the previous year[5] - Non-recurring gains and losses totaled CNY 7,700,502.58 for the quarter[7] - The company's retained earnings increased to RMB 587,810,132.99 from RMB 502,830,249.90, showing a growth of about 16.9%[14] - The company's cash and cash equivalents decreased to RMB 442,733,626.60 from RMB 541,837,926.54, a decline of about 18.3%[12] - Accounts receivable increased to RMB 231,131,825.31 from RMB 129,801,587.58, marking a significant rise of approximately 78.1%[12] - Inventory decreased to RMB 216,338,639.64 from RMB 255,079,924.85, a reduction of about 15.2%[12] - Non-current assets totaled RMB 544,106,700.68 as of March 31, 2022, compared to RMB 526,849,327.42 at the end of 2021, reflecting an increase of approximately 3.3%[13] - The company reported a significant increase in prepayments, rising to RMB 19,938,059.84 from RMB 3,851,818.19, a growth of approximately 418.5%[12]

Financial Performance - The company's operating revenue for Q3 2021 was ¥169,671,201.32, representing a year-on-year increase of 53.22%[5] - The net profit attributable to shareholders for Q3 2021 was ¥45,691,345.84, reflecting a growth of 39.35% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥38,862,979.15, up 53.23% year-on-year[5] - Total operating revenue for the first three quarters of 2021 reached ¥664,962,570.11, a significant increase from ¥452,978,755.64 in the same period of 2020, representing a growth of approximately 46.7%[20] - Net profit for the first three quarters of 2021 was ¥183,071,929.51, up from ¥127,713,362.26 in 2020, reflecting a growth of approximately 43.4%[22] - The company reported a total profit of ¥213,928,872.71 for the first three quarters of 2021, compared to ¥149,331,157.36 in 2020, reflecting an increase of about 43.3%[22] Assets and Liabilities - Total assets at the end of Q3 2021 reached ¥1,791,285,071.35, an increase of 108.43% compared to the end of the previous year[6] - The equity attributable to shareholders at the end of Q3 2021 was ¥1,583,108,446.31, which is a 134.35% increase from the previous year[6] - Total current assets reached ¥1,280,144,821.72, compared to ¥416,976,441.56 at the end of 2020[16] - Total non-current assets are valued at ¥511,140,249.63, compared to ¥442,430,337.35 at the end of 2020[17] - The total liabilities as of September 30, 2021, amount to ¥189,020,539.66, an increase from ¥160,038,082.21 at the end of 2020[17] - Total liabilities as of the end of the reporting period were ¥208,176,625.04, compared to ¥183,866,669.57 in the previous period, reflecting an increase of approximately 13.2%[21] Earnings and Shareholder Information - The basic earnings per share for Q3 2021 was ¥0.45, representing a 21.43% increase compared to the same period last year[6] - Earnings per share for the first three quarters of 2021 were ¥2.04, compared to ¥1.68 in the same period of 2020, marking an increase of about 21.4%[23] - Total number of common shareholders at the end of the reporting period is 4,647[13] - The largest shareholder, Shanghai Yangda Enterprise Management Co., Ltd., holds 54,000,000 shares, accounting for 53.40% of total shares[13] Cash Flow and Operating Activities - Cash inflow from operating activities for the first three quarters of 2021 totaled ¥709,645,960.82, compared to ¥496,865,697.50 in 2020, representing a growth of approximately 42.7%[23] - Cash paid for purchasing goods and services in the first three quarters of 2021 was ¥387,332,136.66, up from ¥207,048,845.62 in 2020, indicating an increase of about 87.0%[23] - The net cash flow from operating activities was $164,226,158.39, a decrease from $183,936,164.10 in the previous year, reflecting a decline of approximately 10%[24] - Total cash outflow from operating activities amounted to $545,419,802.43, compared to $312,929,533.40 in the same period last year, indicating an increase of about 74%[24] - The ending cash and cash equivalents balance was $954,989,811.42, up from $165,731,898.91 year-over-year[25] - The total cash and cash equivalents increased by $811,476,313.03 during the quarter, compared to an increase of $93,713,285.57 in the previous year[24] Cost Management - The company experienced effective cost control measures contributing to the increase in net profit for the year-to-date period, which grew by 43.35%[11] - Total operating costs for the first three quarters of 2021 were ¥462,813,326.90, compared to ¥317,513,308.52 in 2020, indicating an increase of about 45.7%[21] - Payments to employees and for employee benefits totaled $87,106,512.05, up from $66,544,032.44, reflecting an increase of approximately 31%[24] - Tax payments amounted to $36,448,853.43, compared to $17,336,589.56 in the previous year, representing an increase of about 110%[24] Non-Recurring Items - Non-recurring gains and losses for Q3 2021 totaled ¥6,828,366.69, with government subsidies being a significant component of this figure[9] - Deferred income tax liabilities increased from ¥10,895,128.50 to ¥12,013,895.52, representing a rise of approximately 10.3%[21] Inventory and Receivables - The company's inventory increased to ¥164,664,500.09 from ¥146,633,799.84 year-over-year[16] - The company reported a significant increase in accounts receivable, which rose to ¥111,104,752.28 from ¥94,140,539.10 year-over-year[16] Strategic Developments - The company has no significant new strategies or product developments mentioned in the report[15]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥495.29 million, representing a 44.72% increase compared to ¥342.24 million in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2021 was ¥137.38 million, up 44.73% from ¥94.92 million in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥131.91 million, reflecting a 46.83% increase from ¥89.84 million year-on-year[20]. - The company's sales revenue for the first half of 2021 reached 495.29 million RMB, representing a year-on-year increase of 44.72%[35]. - The sales of TPU products amounted to 353.32 million RMB, with a year-on-year growth of 48.55%, further increasing its sales proportion[33]. - The company reported a total revenue of ¥27,095,017.87, with a net profit of ¥6,979,956.01 for the first half of 2021[48]. - The company experienced a significant increase in both operating income and net profit compared to the same period last year, indicating a positive growth trend[54]. Cash Flow and Liquidity - The company's net cash flow from operating activities decreased by 18.88% to ¥84.67 million, down from ¥104.37 million in the same period last year[20]. - Cash inflow from financing activities reached CNY 742,351,750.06 in the first half of 2021, significantly higher than CNY 41,342,627.78 in the first half of 2020[133]. - The net cash flow from financing activities for the first half of 2021 was CNY 713,885,660.95, compared to CNY 4,693,296.93 in the same period of 2020[133]. - Total cash and cash equivalents at the end of the first half of 2021 amounted to CNY 899,014,293.88, up from CNY 132,882,885.79 at the end of the first half of 2020[131]. - Cash and cash equivalents amounted to ¥902,684,372.19 as of June 30, 2021, up from ¥145,287,269.31 at the end of 2020, reflecting strong liquidity[113]. Assets and Liabilities - Total assets grew by 101.08% to ¥1.73 billion, up from ¥859.41 million at the end of the previous year[20]. - The company's total liabilities were reported at ¥190,714,919.61 as of June 30, 2021, compared to ¥183,866,669.57 at the end of 2020, showing a slight increase[114]. - The total assets of the company reached ¥1,728,132,020.08 as of June 30, 2021, compared to ¥859,406,778.91 at the end of 2020, indicating robust asset growth[114]. - The company's inventory decreased by 16.89% to 121.87 million RMB, indicating improved inventory management[39]. - The company's total equity as of June 30, 2021, was not explicitly stated but can be inferred from the total assets and liabilities, indicating a healthy equity position[114]. Research and Development - The company has made significant advancements in R&D, focusing on key projects such as TPU composite materials and automated production lines for inflatable products[31]. - R&D expenses increased by 6.69% to 10.62 million RMB, focusing on new materials and automation technology[35]. - The company invested ¥10,622,848.62 in R&D during the first half of 2021, compared to ¥9,956,810.43 in the same period of 2020, showing a commitment to innovation[122]. Market and Industry Trends - The increase in revenue and net profit was primarily due to the production capacity enhancement from self-funded projects and rapid sales growth of TPU products[22]. - The outdoor sports industry is experiencing rapid growth, with a 331.6% year-on-year increase in the registration of camping-related enterprises, totaling 7,933 new companies in 2020[28]. - The company’s revenue from outdoor sports products is expected to grow due to increasing consumer interest in outdoor activities, driven by health awareness and disposable income growth[27]. Corporate Governance and Shareholder Relations - The company has undergone changes in its board of directors, with new independent directors elected to enhance governance[61]. - The company has committed to resolving industry competition issues related to its initial public offering, with strict adherence to the commitments made[67]. - The company has maintained its commitment to dividend distribution as part of its IPO-related promises, ensuring shareholder returns[67]. - The company has confirmed that all commitments related to its IPO have been fulfilled, with no delays reported[68]. Risks and Challenges - The company faces risks related to macroeconomic fluctuations and market demand, which could impact the sales of its outdoor products[49]. - High customer concentration poses a risk, as major clients include well-known outdoor brands, and any changes in their business could adversely affect the company's profitability[50]. - The company's export business is primarily settled in USD, making it vulnerable to exchange rate fluctuations, which could impact its competitive pricing[51]. - The ongoing global COVID-19 pandemic has had a limited impact on the company's operations, with revenue and export income showing noticeable increases compared to the previous year[54]. Compliance and Regulatory Matters - The company has ensured compliance with the latest regulations from the China Securities Regulatory Commission regarding compensation measures[90]. - The company has not reported any major violations or penalties against its directors, supervisors, or senior management[92]. - The company has not engaged in any major related transactions during the reporting period[92]. Share Capital and Ownership Structure - The total number of shares increased from 75,842,700 to 101,123,600, with an addition of 25,280,900 shares[97]. - The largest shareholder, Shanghai Yangda Management Co., Ltd., holds 54 million shares, representing 53.40% of total shares[102]. - The company is controlled by the Yang family, with significant ownership and management roles held by family members[105]. Financial Reporting and Accounting Policies - The financial report covers the period from January 1, 2021, to June 30, 2021[155]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting[154]. - The consolidated financial statements include all subsidiaries under the control of the company, reflecting the overall financial position, operating results, and cash flows of the group[159].