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].