Financial Performance - The company's operating revenue for 2022 was RMB 2,470,754,977.90, representing a year-on-year increase of 7.35% compared to RMB 2,301,660,263.01 in 2021[24]. - The net profit attributable to shareholders of the listed company for 2022 was RMB 447,030,482.43, an increase of 17.55% from RMB 380,293,419.69 in 2021[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 428,849,162.21, up 20.75% from RMB 355,158,574.81 in 2021[24]. - The net cash flow from operating activities for 2022 was RMB 505,917,225.09, a significant increase of 97.89% compared to RMB 255,649,774.43 in 2021[24]. - The total assets as of the end of 2022 were RMB 2,830,442,739.18, reflecting a year-on-year growth of 17.99% from RMB 2,398,875,677.46 at the end of 2021[25]. - The net assets attributable to shareholders of the listed company at the end of 2022 were RMB 2,289,321,191.76, an increase of 14.53% from RMB 1,998,801,865.06 at the end of 2021[25]. - Basic earnings per share for 2022 were RMB 1.12, up 17.89% from RMB 0.95 in 2021[26]. - The diluted earnings per share also stood at RMB 1.12, reflecting the same growth rate as basic earnings[26]. - The weighted average return on equity increased to 21.01%, up by 0.72 percentage points from the previous year[26]. Market Expansion and Production Capacity - The company is actively expanding its production capacity with projects in Vietnam, indicating a strategic focus on market expansion[15]. - The decision to relocate the investment for the Vietnam Phase IV project to Mexico is expected to yield an annual production capacity of 16 million square meters of artificial turf, primarily for the North American market[37]. - The company is expanding its production capacity in Mexico to meet the growing demand in the Americas, with an expected capacity of 16 million square meters annually[45]. - The company has four production bases, with a total annual production capacity of 146 million square meters of artificial turf expected after all projects are fully operational[45]. Research and Development - The company launched over 200 new products during the reporting period and obtained 4 new invention patents, bringing the total to 50 authorized patents[35]. - The company has a research and development team of 346 members and holds 50 authorized patents, including 21 invention patents[53]. - R&D expenses totaled 79.28 million RMB, which is 3.21% of the operating revenue[69]. - The company emphasizes the importance of continuous R&D to maintain competitive advantages in the market[93]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 5.60 per 10 shares (including tax) based on the total share capital as of the dividend record date[6]. - The proposed cash dividend for 2022 is 5.60 CNY per 10 shares (including tax), totaling 224,953,960.00 CNY (including tax), subject to shareholder approval[132]. - The cash dividend for 2022 represents 50.32% of the net profit attributable to shareholders in the consolidated financial statements[136]. - The company maintains a stable and continuous profit distribution policy, adjusting it based on actual conditions and stakeholder feedback[131]. Corporate Governance and Management - The company has established effective communication channels with investors, including a dedicated investor hotline and an interactive platform[100]. - The management team includes experienced professionals with backgrounds in finance, engineering, and management, enhancing the company's strategic capabilities[106]. - The company has established a performance evaluation system for senior management, linked to the company's operational goals and compensation management[139]. - The company is committed to maintaining transparency and accountability in financial reporting and corporate governance[108]. Environmental and Social Responsibility - The company invested 4.22 million yuan in environmental protection during the reporting period[143]. - The company generated 8.02 million kWh of electricity from its photovoltaic project in 2022, reducing carbon emissions by 5,540 tons[145][146]. - The company has established an environmental protection management committee to enhance its environmental management capabilities[145]. - The company has implemented a special action plan for environmental protection and pollution prevention for the upcoming year[145]. Risks and Challenges - The company faces risks from intensified market competition, particularly in developing countries where market order is still developing[91]. - The company is exposed to risks from fluctuations in raw material prices, particularly due to their dependence on the petrochemical industry[95]. - The rapid expansion of the company's asset scale may lead to increased management risks if not properly controlled[95]. - The company may experience a slowdown in market demand growth due to various macroeconomic factors and changing consumer preferences[92]. Shareholder Information - The largest shareholder, Wang Qiangxiang, holds 219,517,200 shares, accounting for 54.65% of the total shares[194]. - Jiangsu Baisite Investment Group Co., Ltd. is the second-largest shareholder with 63,730,800 shares, representing 15.87%[194]. - The number of ordinary shareholders increased from 11,522 to 11,610 during the reporting period[192]. - The company has a total of 3,998 employees, with 1,699 in the parent company and 2,299 in major subsidiaries[122].

Financial Performance - The company's operating revenue for Q3 2022 was ¥636,932,466.23, representing a year-on-year increase of 9.13%[6] - The net profit attributable to shareholders for Q3 2022 was ¥145,241,947.05, reflecting a significant increase of 39.60% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥140,834,033.99, up 41.81% year-on-year[6] - The basic earnings per share for Q3 2022 was ¥0.36, an increase of 38.46% compared to the previous year[10] - Total operating revenue for the first three quarters of 2022 reached ¥1,952,430,070.39, an increase from ¥1,748,909,955.02 in the same period of 2021, representing a growth of approximately 11.6%[34] - Operating profit for the first three quarters of 2022 was ¥385,457,982.78, up from ¥330,997,342.21 in 2021, reflecting a growth of approximately 16.5%[34] - The total profit for the period reached CNY 386,436,069.78, an increase from CNY 329,562,734.20 in the previous period, representing a growth of approximately 17.3%[38] - The net profit attributable to shareholders was CNY 353,952,957.34, compared to CNY 320,441,955.54 in the same period last year, marking an increase of about 10.5%[38] - The total comprehensive income attributable to the parent company was CNY 396,500,440.97, up from CNY 324,688,844.08, reflecting a growth of approximately 22.1%[40] - Basic and diluted earnings per share were both CNY 0.88, an increase from CNY 0.80 in the previous period[40] Cash Flow and Investments - The net cash flow from operating activities for Q3 2022 was ¥256,567,723.01, showing a growth of 40.80% year-on-year[10] - The net cash flow from operating activities was CNY 392,959,471.86, significantly higher than CNY 139,954,711.51 from the previous year[44] - The company reported a net cash outflow from investing activities of CNY 620,909,386.48, compared to a net inflow of CNY 2,160,106.70 in the same period last year[44] - The company's cash and cash equivalents decreased to ¥342,077,402.50 from ¥519,431,185.50 year-over-year, representing a decline of approximately 34.1%[25] - The cash and cash equivalents at the end of the period were CNY 320,739,159.05, down from CNY 400,225,206.78 at the end of the previous period[44] - The company received CNY 197,908,444.44 in cash from financing activities, compared to CNY 97,756,125.31 in the previous year[44] - The company experienced a foreign exchange impact on cash and cash equivalents amounting to CNY 58,854,462.12 during the period[44] Assets and Liabilities - Total assets at the end of Q3 2022 reached ¥2,724,113,139.92, marking a 13.56% increase from the end of the previous year[10] - Total assets increased to ¥2,724,113,139.92 from ¥2,398,875,677.46, marking a growth of approximately 13.6%[30] - Current liabilities rose to ¥480,104,438.27, compared to ¥356,989,815.23 in the previous year, indicating an increase of about 34.4%[30] - The company's total liabilities amounted to ¥513,014,718.47, up from ¥400,073,812.40, reflecting a growth of approximately 28.3%[30] - The equity attributable to shareholders at the end of Q3 2022 was ¥2,211,098,421.45, which is a 10.62% increase compared to the previous year[10] - The company's equity attributable to shareholders reached ¥2,211,098,421.45, compared to ¥1,998,801,865.06 in the previous year, representing an increase of about 10.6%[30] Shareholder Information - Total number of common shareholders at the end of the reporting period is 11,849, with the largest shareholder, Wang Qiangxiang, holding 54.64% of shares[20] - The company has a significant shareholder structure, with Wang Qiangxiang as the controlling shareholder and several family members and associated entities holding substantial stakes[22] Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[16] - The company is focusing on market expansion and new product development as part of its strategic initiatives[23] - Future outlook includes continued investment in technology and product innovation to drive growth[23] Operational Metrics - The company reported a significant increase in gross profit margin due to revenue growth and favorable exchange rate impacts[16] - The net cash flow from investing activities for Q3 2022 showed a negative change of -248.81%, primarily due to increased cash outflows for purchasing financial products[16] - Accounts receivable increased to ¥450,700,428.23 from ¥321,428,087.92, reflecting a growth of about 40.2% year-over-year[25] - Inventory decreased to ¥443,642,204.02 from ¥558,308,644.08, indicating a reduction of approximately 20.5%[25] - Total current assets increased to ¥1,782,720,008.41 from ¥1,475,666,942.77, showing a growth of about 20.8% year-over-year[25] - Research and development expenses for the first three quarters of 2022 were ¥64,574,547.45, slightly up from ¥63,839,742.44 in 2021, indicating a growth of about 1.2%[34] - Deferred income for the first three quarters of 2022 was recorded at ¥15,800,906.60, down from ¥22,106,856.39 in the previous year, reflecting a decrease of approximately 28.5%[30] - Non-current assets totaled ¥941,393,131.51, slightly up from ¥923,208,734.69 in the previous year, showing an increase of about 2.3%[30]

Financial Performance - The company reported a total revenue of RMB 200 million for the first half of 2022, representing a 15% increase compared to the same period last year[16]. - The gross profit margin for the first half of 2022 was 30%, a decrease of 5 percentage points from the previous year[16]. - The company reported a net profit of RMB 30 million for the first half of 2022, which is a 20% increase compared to the same period last year[16]. - The company's operating revenue for the first half of the year reached ¥1,315,497,604.16, representing a 12.89% increase compared to the same period last year[23]. - Net profit attributable to shareholders decreased by 3.55% to ¥208,711,010.29 from ¥216,397,536.51 in the previous year[23]. - The net profit after deducting non-recurring gains and losses increased by 1.71% to ¥201,888,156.24[23]. - The company achieved a net profit of 208.71 million yuan, a decrease of 3.55% compared to the same period last year[59]. - The company's main business gross margin was 26.07%, down 4.34 percentage points year-on-year; net profit margin was 15.87%, down 2.70 percentage points year-on-year[59]. - The company sold 35.27 million square meters of artificial turf, a year-on-year increase of 1.25%, generating operating revenue of 1.315 billion yuan, an increase of 12.89% year-on-year[59]. - International market sales revenue reached 1.226 billion yuan, a year-on-year increase of 15.05%, primarily driven by leisure grass products[60]. - Domestic market sales revenue was 80.83 million yuan, a year-on-year decrease of 10.76%, mainly due to a decline in sports grass product revenue[60]. Research and Development - The company has invested RMB 50 million in research and development for new artificial turf technologies[16]. - The company has a research and development team of 372 personnel and holds 46 authorized patents, including 19 invention patents[52]. - R&D expenses for the reporting period amounted to CNY 45,205,500, representing 3.44% of total revenue[85]. - Research and development expenses for the first half of 2022 were ¥34,946,149.12, a decrease from ¥39,551,922.89 in the first half of 2021[183]. Production Capacity and Expansion - The company plans to expand its production capacity in Vietnam, with Phase I of the project expected to be completed by the end of 2022[14]. - The company has a total production capacity of 160 million square meters of artificial turf annually across its four production bases in China and Vietnam[38]. - The company plans to expand its production capacity in Vietnam to 50 million square meters annually, aiming to reach a total capacity of 160 million square meters post-expansion[38]. - The company has invested ¥1,767.52 million in the second phase of the Vietnam co-creation production base project, with a total investment of ¥27,737.28 million[77]. Market Position and Strategy - The company is exploring potential mergers and acquisitions to enhance its market position in the artificial turf industry[16]. - The company anticipates a revenue growth of 10-15% for the second half of 2022, driven by increased demand in both domestic and international markets[16]. - The company’s global market share in artificial turf reached 18.00% in 2021, an increase of 3 percentage points from 2019[39][41]. - The company is one of the eight global preferred suppliers of artificial turf for FIFA, World Rugby, and FIH, highlighting its industry leadership[38]. - The company plans to continue expanding its global sales layout and enhancing customer loyalty to maintain its leading position in the industry[53]. Financial Position and Cash Flow - The total assets of the company as of June 30, 2022, amounted to RMB 1.2 billion, an increase of 10% year-on-year[16]. - The company's total assets increased by 25.29% to ¥2,752,416,881.82 compared to the end of the previous year[23]. - The net cash flow from operating activities improved significantly to ¥136,391,748.85, compared to a negative cash flow of ¥42,267,908.63 in the same period last year[23]. - The company's cash and cash equivalents increased to ¥580,782,543.81 from ¥519,431,185.50, representing a growth of approximately 11.5%[166]. - Total current assets increased to ¥1,815,571,280.40 from ¥1,475,666,942.77, reflecting a growth of approximately 23%[166]. - Total liabilities increased to ¥710,172,743.22 from ¥400,073,812.40, representing a growth of 77.3%[170]. Risks and Challenges - The company faces risks from intensified market competition, particularly in developing countries where market order is still improving[82]. - The company is exposed to risks from fluctuating raw material prices, particularly due to their dependence on the petrochemical industry[90]. - The company’s overseas operations are significantly affected by the political and economic environment of importing countries, which poses risks to revenue and profit[84]. - The company’s production bases in Huai'an and Vietnam may face operational risks due to potential COVID-19 disruptions[92]. - The company’s management faces challenges in scaling operations and internationalization, which could lead to increased management risks[91]. Shareholder and Governance Matters - The company did not distribute dividends or increase capital during the reporting period, with no shares or cash dividends allocated per 10 shares[99]. - The company completed the repurchase and cancellation of restricted stocks granted to departing employees, which had not yet been released from restrictions[100]. - The company’s major shareholders committed to a 36-month lock-up period for their shares following the IPO, with specific conditions for any future share reductions[106]. - The company has committed to not utilizing the controlling shareholder's position to seek preferential treatment for related parties in business transactions[121]. - The company guarantees that the incentive plan does not involve any misleading statements or omissions, ensuring legal accountability[121]. Legal and Compliance Issues - The company reported a significant legal dispute involving a patent infringement case with a claim amount of RMB 20 million[124]. - The company is actively involved in a patent dispute that is currently under review by the Supreme People's Court, with proceedings on hold pending a decision from the National Intellectual Property Administration[126]. - The company has maintained good integrity status, with no instances of failing to fulfill court judgments or large debt repayments[130].

Financial Performance - The company's operating revenue for 2021 was RMB 2,301,660,263.01, representing a 24.39% increase compared to RMB 1,850,288,253.27 in 2020[25]. - The net profit attributable to shareholders of the listed company decreased by 7.45% to RMB 380,293,419.69 from RMB 410,922,324.35 in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 355,158,574.81, down 7.53% from RMB 384,096,686.76 in 2020[25]. - The net cash flow from operating activities was RMB 255,649,774.43, a decrease of 36.81% compared to RMB 404,546,476.91 in 2020[25]. - The total assets at the end of 2021 were RMB 2,398,875,677.46, reflecting a 15.87% increase from RMB 2,070,381,367.43 at the end of 2020[25]. - The net assets attributable to shareholders of the listed company increased by 9.94% to RMB 1,998,801,865.06 from RMB 1,818,038,399.70 in 2020[25]. - The weighted average return on equity decreased to 20.29%, down 13.51 percentage points from the previous year[26]. - The basic earnings per share for the year was RMB 0.95, a decline of 14.41% compared to the previous year[26]. - The gross profit margin for artificial turf decreased by 9.01 percentage points to 28.02%[76]. - The company achieved a total revenue of 2.291 billion RMB, representing a year-on-year growth of 24.26%[84]. Market Expansion and Sales - The company achieved a total sales volume of artificial turf products of 66.59 million square meters, representing a year-on-year growth of 29.78%[37]. - In 2021, the international market achieved sales revenue of 2,017.23 million yuan, a year-on-year increase of 30.54%, accounting for 87.64% of the company's total revenue[39]. - Sales revenue from leisure grass products reached 1,646.69 million yuan, up 31.62% year-on-year, driven by strong market demand[42]. - Domestic market sales revenue was 284.43 million yuan, a decline of 6.73% year-on-year, primarily due to the impact of COVID-19 on the sports grass market[39]. - The company’s artificial turf products are exported to over 120 countries and regions, demonstrating its extensive market reach[58]. - The company plans to continue expanding its global sales layout and enhancing customer loyalty[73]. Production and Capacity - The production volume of artificial turf reached 69.56 million square meters, an increase of 29.51% year-on-year, with the Vietnam production base significantly contributing to capacity release[43]. - The company has a total production capacity of 160 million square meters of artificial turf, with specific capacities of 16 million in Huai'an, 40 million in Huai'an Industrial Park, 24 million in the first phase of Vietnam, and 30 million in the second phase of Vietnam[55][57]. - The company plans to expand its production capacity to 50 million square meters annually in Vietnam, which will further increase its total capacity to 160 million square meters[57]. Research and Development - The company launched approximately 300 innovative products in 2021, enhancing its position in the artificial turf market[44]. - The R&D team consists of 368 personnel, with 43 authorized patents, including 17 invention patents and 26 utility model patents[69]. - The company invested CNY 74.23 million in R&D during the reporting period, accounting for 3.23% of its operating revenue[134]. - The company intends to increase R&D investment to drive innovation and develop new products, processes, and equipment[127]. Risk Management - The company has outlined potential risks in its future development strategy, which investors should be aware of[8]. - The company faces risks from intensified market competition, with a market share of 15% in 2019, which may pressure pricing and operational performance[129]. - The ongoing COVID-19 pandemic poses risks to production and logistics, potentially affecting the company's operations in Huai'an and Vietnam[140]. Governance and Management - The company held 1 annual and 3 extraordinary shareholder meetings during the reporting period, ensuring compliance with governance regulations[142]. - The board of directors convened 10 meetings during the reporting period to ensure effective decision-making[145]. - The company has established effective communication channels with investors, enhancing transparency and information disclosure[146]. - The management team includes experienced professionals with backgrounds in finance, management, and engineering, ensuring strong leadership[158]. Profit Distribution - The company plans to distribute a cash dividend of RMB 4.72 per 10 shares (including tax) based on the total share capital as of the dividend record date[6]. - The proposed cash dividend for 2021 is 4.72 yuan per 10 shares (including tax), totaling 189,986,608 yuan (including tax) based on a total share capital of 402,514,000 shares[192]. - The company maintains a cash dividend policy where at least 80% of profits should be distributed as cash dividends if in a mature stage without major capital expenditures[186].

Financial Performance - The company's operating revenue for Q1 2022 was ¥681,208,503.94, representing a year-on-year increase of 27.78%[6] - The net profit attributable to shareholders of the listed company decreased by 13.80% to ¥85,295,075.11[6] - The basic earnings per share for the period was ¥0.21, down by 13.80% compared to the same period last year[8] - Operating profit for Q1 2022 was ¥87,128,013.51, compared to ¥104,540,580.93 in Q1 2021, indicating a decrease of 16.7%[36] - The net profit for Q1 2022 was ¥85,295,075.11, a decrease of approximately 13.9% compared to ¥98,954,186.54 in Q1 2021[38] - Total comprehensive income for Q1 2022 was ¥80,609,992.86, down from ¥102,272,440.44 in the same period last year, reflecting a decline of about 21.1%[38] - Revenue from sales of goods and services in Q1 2022 was ¥578,753,461.17, up from ¥463,415,804.86 in Q1 2021, marking a growth of approximately 24.8%[42] - The basic and diluted earnings per share for Q1 2022 were both ¥0.21, down from ¥0.25 in Q1 2021, reflecting a decrease of 16%[38] Cash Flow - The net cash flow from operating activities increased significantly by 425.94% to ¥38,504,442.28[6] - The net cash flow from operating activities increased significantly by 425.94%, reaching ¥38,504,442.28 compared to ¥7,321,123.95 in the same period last year[19] - The net cash flow from investing activities was negative at -¥70,548,171.88, slightly worse than -¥69,672,087.08 in the previous year, primarily due to payments for production equipment purchases[19] - The net cash flow from financing activities also turned negative at -¥1,697,408.01, compared to a positive cash flow of ¥31,726,962.63 in the same period last year, mainly due to the previous year's receipt of restricted stock proceeds[19] - Operating cash flow for Q1 2022 was ¥38,504,442.28, significantly improved from ¥7,321,123.95 in Q1 2021, indicating a growth of approximately 426.5%[42] - The company reported a net cash outflow from investing activities of ¥70,548,171.88 in Q1 2022, compared to a net outflow of ¥69,672,087.08 in Q1 2021[44] Assets and Liabilities - Total assets at the end of the period were ¥2,470,285,782.90, an increase of 2.98% from the end of the previous year[8] - Total assets increased to ¥2,470,285,782.90 in Q1 2022 from ¥2,398,875,677.46 in Q1 2021, representing a growth of 3.0%[33] - Total liabilities decreased to ¥388,886,156.26 in Q1 2022 from ¥400,073,812.40 in Q1 2021, a reduction of 2.9%[33] - The company's cash and cash equivalents decreased to ¥479,971,939.58 from ¥519,431,185.50 at the end of the previous year[27] - Cash and cash equivalents at the end of Q1 2022 stood at ¥455,414,371.07, compared to ¥401,275,271.75 at the end of Q1 2021, representing an increase of about 13.5%[44] Operational Metrics - The company's operating costs rose by 41.27% to ¥517,103,159.77, attributed to increased revenue scale and raw material price hikes[16] - Total operating costs for Q1 2022 were ¥588,296,002.50, up from ¥426,148,157.60 in Q1 2021, reflecting a 37.9% increase[36] - The total operating expenses for Q1 2022 were ¥574,699,905.51, compared to ¥490,527,113.20 in Q1 2021, indicating an increase of about 17.2%[42] - Research and development expenses for Q1 2022 were ¥18,005,400.43, slightly down from ¥18,689,816.91 in Q1 2021[36] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,799[20] - The largest shareholder, Wang Qiangxiang, holds 54.54% of the shares, totaling 219,517,200 shares[20] - Jiangsu Baisite Investment Group Co., Ltd. is the second-largest shareholder with 15.83%, holding 63,730,800 shares[20] Other Financial Metrics - The income tax expense decreased by 48.73%, amounting to ¥2,770,510.18, down from ¥5,403,895.97 year-over-year[19] - The weighted average return on equity decreased by 1.11 percentage points to 4.18%[8] - The company reported a significant increase in other income, which rose by 12,118.43% to ¥1,041,944.62, mainly due to the write-off of payables[16] - The company experienced a foreign exchange loss of ¥8,166,768.40 in Q1 2022, contrasting with a gain of ¥5,509,713.73 in Q1 2021[44] - The company reported a decrease in accounts payable to ¥100,683,724.29 in Q1 2022 from ¥114,373,422.87 in Q1 2021, a decline of 11.9%[33] - Deferred tax assets increased to ¥4,539,799.84 in Q1 2022 from ¥3,632,924.86 in Q1 2021, an increase of 24.9%[33]

Financial Performance - The company's operating revenue for Q3 2021 was ¥583,633,431.17, representing an increase of 8.15% compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2021 was ¥104,044,419.03, a decrease of 22.17% year-over-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥99,311,825.29, down 23.81% from the previous year[6]. - The basic earnings per share for Q3 2021 was ¥0.26, a decline of 29.72% year-over-year[9]. - Total operating revenue for the first three quarters of 2021 reached ¥1,748,909,955.02, an increase of 30.2% compared to ¥1,343,201,249.14 in the same period of 2020[40]. - Net profit for the first three quarters of 2021 was ¥320,441,955.54, a slight increase from ¥313,866,632.20 in the same period of 2020[43]. - The total comprehensive income for the first three quarters was ¥324,688,844.08, compared to ¥305,642,640.18 in the previous year, reflecting an increase of 6.2%[46]. Cash Flow and Assets - The cash flow from operating activities for the year-to-date period was ¥139,954,711.51, showing a significant decrease of 51.87% compared to the same period last year[9]. - The cash inflow from operating activities for the first three quarters of 2021 was CNY 1,853,721,277.60, an increase of 31.5% compared to CNY 1,409,326,846.56 in the same period of 2020[48]. - The net cash outflow from operating activities was CNY 139,954,711.51, a decrease of 51.9% compared to CNY 290,761,167.61 in the previous year[51]. - The total assets attributable to shareholders at the end of the reporting period were ¥2,293,242,169.73, an increase of 10.76% from the end of the previous year[9]. - The total current assets rose to RMB 1,394,585,477.34, compared to RMB 1,329,577,011.52, indicating an increase of about 4.9%[32]. - The company reported a significant increase in long-term assets, totaling RMB 898,656,692.39, up from RMB 740,804,355.91, which is an increase of approximately 21.4%[32]. - The cash and cash equivalents decreased to RMB 400,225,206.78 from RMB 426,389,558.52, a decline of about 6.4%[29]. Liabilities and Equity - The company's total liabilities rose to ¥341,783,014.66, compared to ¥252,342,967.73 in the previous year, indicating a growth of 35.4%[39]. - The total equity attributable to shareholders increased to ¥1,951,459,155.07 from ¥1,818,038,399.70, marking a growth of 7.3%[39]. - Owner's equity totaled 1,818,038,399.70, with undistributed profits at 772,350,909.86[60]. - The total liabilities increased from 265,603,066.21 to 252,342,967.73, reflecting a decrease in non-current liabilities[60]. Production and Investment - The company experienced strong demand for leisure grass products, contributing to rapid growth in main business revenue[12]. - The company plans to invest RMB 82,381 million in expanding its production base in Vietnam, aiming for an annual production capacity of 50 million square meters of artificial turf[26]. - The production capacity utilization in Vietnam has recovered to around 75% as of the report date, following the easing of COVID-19 restrictions[23]. - The company is facing production challenges in Vietnam due to COVID-19, which has affected its operational capacity[23]. Research and Development - Research and development expenses increased to ¥63,839,742.44 in 2021 from ¥42,920,013.63 in 2020, reflecting a growth of 48.7%[43]. Stock and Incentives - The company granted 287,000 restricted stock units at a price of RMB 14.61 per share to 30 eligible participants as part of its incentive plan[27].

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥1,165,276,523.85, representing a 45.01% increase compared to ¥803,571,128.54 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥216,397,536.51, up 20.10% from ¥180,184,311.21 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥198,494,017.62, reflecting a 21.20% increase from ¥163,776,238.64 in the same period last year[22]. - Basic earnings per share for the reporting period increased to CNY 0.54, up 8.00% from CNY 0.50 in the same period last year[24]. - Diluted earnings per share also rose to CNY 0.54, reflecting an 8.00% increase compared to the previous year[24]. - The company's gross margin was 30.42%, a decrease of 5.61 percentage points year-on-year, while the net profit margin was 18.57%, down 3.85 percentage points from the previous year[60]. - Operating revenue increased by 45.01% to 1,165.28 million yuan, up from 803.57 million yuan in the same period last year[61]. - Operating costs rose by 57.93% to 812.68 million yuan, compared to 514.60 million yuan in the previous year[61]. - Research and development expenses increased by 55.70% to 45.32 million yuan, up from 29.11 million yuan year-on-year[61]. Assets and Liabilities - The company's total assets at the end of the reporting period amounted to ¥2,196,754,320.92, a 6.10% increase from ¥2,070,381,367.43 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company were ¥1,836,896,460.15, showing a slight increase of 1.04% from ¥1,818,038,399.70 at the end of the previous year[22]. - Total liabilities reached RMB 359,857,860.77, up from RMB 252,342,967.73, which is an increase of approximately 42.7%[166]. - The total equity decreased to ¥1,490,330,820.34 from ¥1,576,870,821.01, a decrease of about 5.5%[175]. Cash Flow - The net cash flow from operating activities was negative at -¥42,267,908.63, compared to a positive cash flow of ¥204,731,063.52 in the same period last year, indicating a significant change in cash flow dynamics[22]. - The cash flow from operating activities showed a net outflow of approximately ¥42.27 million, contrasting with a net inflow of ¥204.73 million in the first half of 2020[191]. - The total cash outflow from operating activities was 809,889,103.05 RMB, significantly higher than 381,360,549.12 RMB in the same period of 2020[195]. Market Position and Growth - The company holds a 15% global market share in the artificial turf industry, making it the largest producer and seller worldwide[37]. - The company anticipates continued growth in the artificial turf market, supported by national policies promoting sports facility construction and rising consumer awareness[34]. - The company sold 34.83 million square meters of artificial turf products, a year-on-year increase of 61.36%, achieving revenue of 1.165 billion yuan, up 45.01% from the same period last year[54]. - Domestic market revenue reached 90.58 million yuan, growing by 48.35% year-on-year, while international market revenue was 1.066 billion yuan, an increase of 44.04% year-on-year[55]. Production Capacity and Expansion - The company has a production capacity of 49 million square meters of artificial turf annually at its Jiangsu production base and 46 million square meters at its Vietnam base, totaling 95 million square meters[36]. - The company plans to expand its Vietnam production base to achieve an additional capacity of 50 million square meters, aiming for a total capacity of 145 million square meters after full production[36]. - The second phase of the Vietnam production base has been successfully put into operation, producing 5.12 million square meters of artificial turf in the first half of the year, with expectations to reach full capacity by the end of the year[59]. Research and Development - The company invested CNY 45.32 million in R&D, accounting for 3.89% of its operating revenue, highlighting its commitment to innovation[83]. - The company's research and development team has made significant advancements, with some self-developed products exceeding FIFA Quality Pro standards[48]. Risks and Challenges - The company faces risks from slowing demand in the artificial turf market, which could adversely affect sales growth and overall performance[81]. - The ongoing COVID-19 pandemic poses risks to production and supply chain continuity, particularly in Vietnam and domestic facilities[89]. - The company is exposed to risks from international political and economic changes that could affect its export business, particularly in the Asia-Pacific region[82]. Shareholder and Governance - The company did not distribute dividends or increase capital reserves in the first half of 2021, with each 10 shares resulting in 0 shares distributed or increased[99]. - The controlling shareholder and actual controller are committed to increasing their holdings by at least 10 million yuan per single transaction, not exceeding 2% of the total share capital within 12 months[112]. - The company will disclose the repurchase plan within 2 trading days after the board's decision, including the number of shares, price range, and completion time[112]. Legal and Compliance - The company is involved in a significant intellectual property lawsuit with a claim amount of 20 million RMB, which is currently under review by the Supreme People's Court[124]. - The company has maintained a good integrity status, with no instances of failing to fulfill court judgments or large debt repayments[129]. - The company has ensured compliance with information disclosure obligations and has not utilized related transactions to transfer profits improperly[122].

Financial Performance - Operating revenue rose by 49.00% to CNY 533,106,569.67 year-on-year[11] - Net profit attributable to shareholders increased by 47.34% to CNY 98,954,186.54 compared to the same period last year[11] - Basic and diluted earnings per share increased by 31.58% to CNY 0.25[11] - The company's operating revenue for Q1 2021 was CNY 533,106,569.67, representing a 49.00% increase compared to CNY 357,797,282.42 in the same period last year[20] - Net profit for Q1 2021 was ¥98,954,186.54, representing a 47% increase compared to ¥67,161,028.46 in Q1 2020[47] - Total comprehensive income for Q1 2021 was RMB 51,225,046.01, compared to RMB 48,710,738.36 in Q1 2020, reflecting a growth of 3.1%[56] Assets and Liabilities - Total assets increased by 8.47% to CNY 2,245,764,793.84 compared to the end of the previous year[11] - Total liabilities increased significantly, with other payables rising by 128.00% to CNY 86,473,855.38 from CNY 37,926,729.60, attributed to the recognition of stock repurchase obligations[20] - Total liabilities amounted to $322,524,368.63, up from $252,342,967.73, indicating a growth of around 27.8%[34] - Current liabilities increased to $259,724,881.18 from $198,517,809.89, a rise of about 30.8%[34] - The company reported a total asset value of 2,070,381,367.43 RMB as of December 31, 2020, down from 2,083,641,465.91 RMB[70] Cash Flow - Net cash flow from operating activities decreased by 90.83% to CNY 7,321,123.95 compared to the previous year[11] - The cash flow from operating activities was RMB 7,321,123.95, a decrease of 90.8% from RMB 79,836,048.93 in Q1 2020[62] - The company’s cash and cash equivalents at the end of Q1 2021 stood at 373,329,225.97 RMB, up from 4,357,251.93 RMB at the end of Q1 2020[68] - The total cash inflow from operating activities was RMB 497,848,237.15, compared to RMB 390,261,870.19 in Q1 2020, indicating a 27.5% increase[62] Shareholder Information - The company had a total of 14,716 shareholders at the end of the reporting period[16] - The largest shareholder, Wang Qiangxiang, holds 54.57% of the shares[16] - Jiangsu Best Investment Group Co., Ltd. is the second-largest shareholder with 15.84%[16] Research and Development - R&D expenses increased by 37.83% to CNY 18,689,816.91, up from CNY 13,559,909.64, reflecting the company's commitment to enhancing its product development[22] - Research and development expenses for Q1 2021 were ¥18,689,816.91, an increase from ¥13,559,909.64 in Q1 2020[45] Investment Income - The investment income surged by 2167.34% to CNY 1,066,265.77 from CNY 47,027.23, mainly due to increased financial investment returns[22] - The company reported a financial income of ¥4,273,012.29 in Q1 2021, significantly higher than ¥21,054.85 in Q1 2020[45] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[48]

Financial Performance - The company's operating revenue for 2020 was CNY 1,850,288,253.27, representing a 19.10% increase compared to CNY 1,553,541,818.64 in 2019[26]. - Net profit attributable to shareholders for 2020 was CNY 410,922,324.35, a 44.38% increase from CNY 284,603,805.65 in 2019[26]. - The net profit after deducting non-recurring gains and losses was CNY 384,096,686.76, up 42.97% from CNY 268,660,809.01 in 2019[26]. - The company's total assets increased by 60.35% to CNY 2,070,381,367.43 at the end of 2020, compared to CNY 1,291,182,938.35 at the end of 2019[26]. - Basic earnings per share for 2020 were CNY 1.11, a 40.51% increase from CNY 0.79 in 2019[26]. - The weighted average return on net assets was 33.80% in 2020, down 2.18 percentage points from 35.98% in 2019[26]. - The company generated a net cash flow from operating activities of CNY 404,546,476.91, an 18.69% increase from CNY 340,840,795.03 in 2019[26]. - The gross profit margin improved by 2.77 percentage points to 24.07% in 2020, indicating enhanced overall profitability[66]. - The company achieved a total revenue of RMB 1,850,288,253.27, representing a year-on-year increase of 19.10%[73]. - The net profit attributable to shareholders reached RMB 41,092.23 million, an increase of 44.38% compared to the previous year[73]. Market Position and Expansion - The company is the largest manufacturer and seller of artificial turf globally, focusing on R&D, production, and sales[36]. - The company has established a wholly-owned subsidiary in Vietnam for production, indicating market expansion efforts[15]. - The company is the only global preferred supplier for FIFA, FIH, and World Rugby in the Asia-Pacific region, highlighting its competitive advantage in the sports grass segment[38]. - The company achieved a global market share of 15.00% in 2019, maintaining its position as the largest producer and seller of artificial turf[53]. - The production capacity of the company is expected to reach 95 million square meters annually after the full operation of the Vietnam production base[53]. - The company plans to expand its production capacity to meet the growing market demand over the next 2-3 years[53]. - The company is actively expanding its production capacity in Vietnam, with significant investments in new facilities and equipment[110]. Research and Development - The company has a total of 290 R&D personnel and holds 31 authorized patents, including 14 invention patents[59]. - The company invested CNY 58.37 million in R&D, accounting for 3.15% of its operating revenue, to maintain competitive advantages through new technology and product development[126]. - The company launched over 200 new products in 2020, enhancing its market competitiveness and meeting diverse consumer needs[71]. Corporate Governance and Compliance - The company has a standard unqualified audit report issued by Tianjian Accounting Firm[6]. - The company emphasizes the importance of risk awareness regarding future plans and development strategies due to inherent uncertainties[8]. - The company has established a robust corporate governance structure to protect investor rights and ensure compliance with relevant laws and regulations[194]. - The company has taken measures to ensure compliance with legal obligations regarding related party transactions and information disclosure[162]. - The company has maintained a commitment to transparency and accountability in its financial reporting and corporate governance practices[167]. Dividend Policy - The company plans to distribute a cash dividend of RMB 5.00 per 10 shares (including tax) to all shareholders, based on a total distributable profit of RMB 513,703,142.66 as of December 31, 2020[7]. - The proposed cash dividend for 2020 is 5.00 RMB per 10 shares, totaling 201.13 million RMB, subject to shareholder approval[141]. - The cash dividend payout ratio for 2020 is 48.95%, compared to 20.24% in 2019[143]. - The company maintains a cash dividend policy that requires a minimum of 15% of the distributable profit to be distributed as cash dividends if conditions are met[134]. - The company’s profit distribution policy emphasizes stable and continuous dividend payments, with adjustments based on actual conditions and stakeholder feedback[137]. Risks and Challenges - The company faces risks from intensified market competition, with a significant increase in production capacity among global competitors and potential entry from related industries[122]. - The company is exposed to foreign exchange risks, with a reported exchange loss of CNY 29.88 million, representing 6.74% of total profit, due to its reliance on USD for overseas sales[128]. - The company recognizes the risk of losing certifications from international sports organizations, which could impact its access to high-end markets and brand reputation[127]. Social Responsibility - The company actively participates in social responsibility initiatives, donating 484,500 RMB for various charitable causes in 2020[195]. - During the COVID-19 pandemic, the company donated 1,000,000 RMB to support local pandemic control efforts[196]. Legal Matters - The company has ongoing litigation involving intellectual property rights, with claims amounting to 1,000 million RMB for one case and 2,000 million RMB for another[168]. - The company is involved in a patent infringement lawsuit, seeking RMB 20 million in damages[171].

Financial Performance - Operating income for the first nine months was RMB 1,343,201,249.14, representing a growth of 15.02% compared to the same period last year[18]. - Net profit attributable to shareholders of the listed company was RMB 313,866,632.20, up 48.39% year-on-year[18]. - Basic earnings per share increased by 47.46% to RMB 0.87 compared to RMB 0.59 in the previous year[20]. - The weighted average return on net assets rose to 30.40%, an increase of 2.63 percentage points from the previous year[20]. - The company reported a net profit margin improvement, with net profit for the first three quarters of 2020 reaching RMB 324,035,000, compared to RMB 240,000,000 for the same period in 2019, an increase of approximately 35%[52]. - The net profit attributable to the parent company was CNY 133,682,320.99, an increase from CNY 99,650,859.49 in the previous period, representing a growth of approximately 34.4%[57]. - Total comprehensive income amounted to CNY 121,135,558.75, compared to CNY 106,689,679.00 in the previous period, reflecting an increase of about 13.5%[57]. - The total profit reached CNY 143,000,537.03, compared to CNY 116,656,144.07 in the previous period, marking an increase of approximately 22.6%[56]. Assets and Liabilities - Total assets at the end of the reporting period reached RMB 2,099,199,831.96, an increase of 62.58% compared to the end of the previous year[18]. - The company's total current assets reached RMB 1,404,387,066.61, compared to RMB 562,774,430.13 in the previous year, indicating an increase of about 149.8%[40]. - The company's total liabilities decreased to RMB 363,016,290.55 from RMB 373,193,526.60, showing a reduction of about 2.1%[44]. - The total equity attributable to shareholders increased significantly to RMB 1,736,183,541.41 from RMB 917,989,411.75, marking an increase of approximately 89.0%[44]. - The company's total liabilities as of September 30, 2020, were RMB 299,314,487.56, slightly up from RMB 294,314,130.84 at the end of 2019, indicating a marginal increase of about 1%[51]. Cash Flow - Net cash flow from operating activities for the first nine months was RMB 290,761,167.61, a 39.98% increase year-on-year[18]. - The company reported a significant increase in cash and cash equivalents, reaching RMB 779,476,362.34, a rise of 1698.72% compared to the previous year[24]. - The company achieved a net cash flow from operating activities of ¥290,761,167.61 in the first three quarters of 2020, compared to ¥207,710,798.43 in the same period of 2019, reflecting a 39.9% increase[64]. - The total cash inflow from financing activities reached CNY 637,989,600.00, compared to CNY 380,000,000.00 in the previous year, indicating an increase of 68%[73]. - The total cash and cash equivalents at the end of the third quarter of 2020 amounted to CNY 623,442,669.65, up from CNY 47,866,560.33 at the end of the same quarter in 2019, marking an increase of 1,002%[73]. Shareholder Information - The total number of shareholders at the end of the reporting period was 44,368[22]. - The largest shareholder, Wang Qiangxiang, holds 54.87% of the shares, totaling 219,517,200 shares[22]. Investment and Development - The company raised a total of RMB 618.99 million from its initial public offering, with a net amount of RMB 570.15 million after deducting issuance costs[28]. - The construction of the Vietnam production base project (Phase II) is currently underway, expected to gradually commence production in Q1 2021[28]. - The company plans to expand its market presence and invest in new product development to drive future growth[54]. Other Financial Metrics - The company reported non-operating income of RMB 3,342,517.38 for the first nine months[21]. - The company’s financial expenses rose significantly, reaching RMB 16,458,414.20, due to exchange rate fluctuations[26]. - The company’s other income surged by 3043.39% to RMB 11,818,005.91, mainly from increased government subsidies[26]. - The company reported a decrease in sales expenses to ¥9,520,148.38 in Q3 2020, down from ¥16,653,701.60 in Q3 2019, indicating a 42.4% reduction[61].