Financial Performance - Operating revenue for the first nine months was ¥1,836,988,974.87, representing a 66.40% increase from the same period last year[18] - Net profit attributable to shareholders of the listed company was ¥182,667,948.92, up 121.77% year-over-year[18] - The company reported a net profit excluding non-recurring gains and losses of ¥174,868,572.61, which is a 130.98% increase year-over-year[18] - The company reported a net profit increase, leading to a 30.27% rise in undistributed profits to ¥340,245,842.13[30] - Net profit for Q3 2020 was ¥79,946,445.53, up from ¥37,266,612.08 in Q3 2019, reflecting a growth of approximately 114.5%[63] - The company reported a total comprehensive income of CNY 55,940,373.45 for Q3 2020, compared to CNY 33,776,538.85 in Q3 2019, an increase of 65.5%[79] - The company reported a net profit of CNY 144,121,336.80 for the first three quarters of 2020, compared to CNY 77,640,883.44 in the same period of 2019, an increase of 85.5%[76] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,997,856,470.50, an increase of 135.17% compared to the previous year-end[18] - Total liabilities amounted to ¥554,125,164.45, compared to ¥473,147,073.33 in the previous year, showing an increase[47] - The total assets as of the reporting date amounted to ¥1,976,960,221.42, compared to ¥918,380,456.88 in the previous year, marking an increase of about 115.5%[55] - The total liabilities were reported at ¥631,851,782.53, slightly up from ¥602,060,973.22 year-over-year[55] - The company's total liabilities increased significantly, with accounts payable rising by 63.22% to ¥490,974,887.56 due to increased procurement[30] Shareholder Information - Net assets attributable to shareholders of the listed company amounted to ¥1,443,731,306.05, reflecting a growth of 283.57% year-over-year[18] - The total number of shareholders at the end of the reporting period was 13,637[24] - The largest shareholder, Xi'an Duoduo Investment Management Co., Ltd., holds 18,316,112 shares, accounting for 26.52% of the total shares[24] - Owner's equity increased to ¥1,443,731,306.05 from ¥376,395,738.70, reflecting strong growth in shareholder value[47] Cash Flow and Investments - The net cash flow from operating activities for the first nine months was -¥316,886,756.55, compared to -¥213,639,713.49 in the previous year[18] - Cash received from sales of goods and services increased by 42.01% to ¥1,252,982,798.85, reflecting business growth[34] - Cash received from investment amounted to ¥988,267,668.43, attributed to equity investment and public offering of new shares[37] - Cash received from borrowings decreased by 56.14% to ¥25,000,000.00 due to a reduction in bank loans[37] - Cash paid for debt repayment increased by 77.55% to ¥87,000,000.00, reflecting early repayment of bank loans[37] - The cash inflow from operating activities for the first three quarters of 2020 was CNY 1,274,639,289.56, an increase of 40.5% compared to CNY 906,726,909.56 in the same period of 2019[81] - The total cash inflow from investment activities was CNY 201,577,211.37, compared to only CNY 2,530.00 in the same period of 2019[84] - The cash inflow from financing activities was CNY 1,013,267,668.43, significantly higher than CNY 67,000,000.00 in the previous year[84] Earnings and Expenses - Basic earnings per share increased to ¥3.07, a rise of 93.08% compared to the same period last year[21] - The weighted average return on net assets decreased to 20.67%, down 6.64 percentage points from the previous year[21] - Research and development expenses increased by 55.84% to ¥1,429,173.76, reflecting higher investment in R&D[34] - The total operating costs for Q3 2020 were ¥607,030,791.49, compared to ¥351,342,343.88 in Q3 2019, indicating an increase of about 72.6%[59] - The company incurred a tax expense of CNY 10,945,633.28 in Q3 2020, compared to CNY 5,515,461.10 in Q3 2019, indicating an increase in tax obligations due to higher profits[77] Growth and Future Plans - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[55] - The company recorded a 160.64% increase in other income to ¥20,564,257.07, primarily from government subsidies[34] - The company has shown a consistent increase in other income, with CNY 10,410,926.63 reported in Q3 2020, compared to CNY 2,467,673.93 in Q3 2019, indicating a growth of 322.5%[74]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,149,487,542.89, representing a 61.23% increase compared to CNY 712,953,246.41 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2020 was CNY 102,721,503.39, a significant increase of 127.76% from CNY 45,101,635.68 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 102,659,936.37, up 155.72% from CNY 40,145,645.12 year-on-year[21]. - Basic earnings per share for the first half of 2020 were CNY 1.88, reflecting a 116.09% increase from CNY 0.87 in the same period last year[24]. - The diluted earnings per share also stood at CNY 1.88, consistent with the basic earnings per share, indicating strong profitability growth[24]. - The company reported a profit margin of approximately 8.93% for the first half of 2020, compared to 6.31% in the same period of 2019[153]. - The total profit for the first half of 2020 was RMB 119,708,322.51, compared to RMB 53,691,556.49 in the previous year, marking a substantial increase[153]. - Total comprehensive income amounted to ¥88,180,963.35, compared to ¥43,864,344.59 in the previous period, indicating a significant increase[161]. Assets and Liabilities - The company's total assets reached CNY 2,225,894,683.77, marking a 162.01% increase from CNY 849,542,812.03 at the end of the previous year[21]. - The net assets attributable to shareholders increased to CNY 1,363,784,860.52, a 262.33% rise compared to CNY 376,395,738.70 at the end of last year[21]. - Total liabilities reached CNY 892,673,567.10, compared to CNY 602,060,973.22, indicating an increase of around 48.1%[149]. - The total equity attributable to shareholders increased to CNY 1,363,784,860.52, reflecting a growth from the previous period[175]. - The company reported a total asset of approximately ¥2,225,894,683.77 as of June 30, 2020, compared to ¥849,542,812.03 on December 31, 2019, indicating a significant growth[141]. Cash Flow - The company reported a net cash flow from operating activities of -CNY 206,809,458.40, worsening from -CNY 123,267,865.92 in the same period last year[21]. - Cash inflows from operating activities totaled ¥651,635,400.82, up from ¥479,901,675.88 year-on-year, reflecting a growth of approximately 36%[163]. - Cash outflows from operating activities reached ¥858,444,859.22, compared to ¥603,169,541.80 in the same period last year, resulting in a net cash flow from operating activities of -¥206,809,458.40[166]. - Financing activities generated a net cash flow of ¥972,716,998.69, a substantial increase from -¥3,499,895.09 in the prior year, indicating strong capital inflow[166]. - The ending cash and cash equivalents balance was ¥947,984,318.06, significantly higher than ¥108,638,636.99 at the end of the previous period[166]. Market Position and Strategy - The company has a strong competitive position in the campus media marketing sector, with a wide-ranging media network covering various student activities[33]. - The company primarily adopts a direct sales model, enhancing customer satisfaction through integrated marketing services across digital marketing, event services, and campus media marketing[34]. - The advertising industry in China is experiencing continuous growth, with a stable outlook for the digital marketing and event service segments[39]. - The company has established strong partnerships with major internet media platforms, including ByteDance and Tencent, leading to increased advertising spending from clients like Yili and China Mobile[49]. - The company focuses on improving its creative and brand planning capabilities to adapt to changes in the media landscape and marketing trends[51]. Risks and Challenges - The company faces risks from increasing market competition in marketing demand, which may adversely affect its industry position and operational performance[65]. - High customer concentration risk exists as the company serves large, well-known enterprises, making it vulnerable to fluctuations in their marketing budgets[66]. - Rising media resource procurement prices pose a risk due to the high concentration of internet media in a few operators, potentially impacting the company's operating performance if costs increase[67]. - Seasonal fluctuations in operating performance are anticipated, with lower marketing spending in the first half of the year compared to the second half due to clients' procurement processes[66]. - Changes in industry policies could significantly impact advertising demand and marketing behaviors, affecting the company's performance[69]. Shareholder and Corporate Governance - The company committed to a 12-month lock-up period for major shareholders following the IPO, prohibiting the transfer or management of shares[79]. - The company guarantees fair pricing in related party transactions, adhering to market standards to protect the interests of all shareholders, especially minority ones[82]. - The controlling shareholder and management committed to stabilizing the stock price if it falls below the audited net asset value for 20 consecutive trading days, with measures including share buybacks and increased holdings by executives[85]. - The company has established a compensation fund to address investor losses resulting from any violations of commitments[91]. - The company emphasizes the importance of maintaining investor rights and will actively seek resolutions for any claims made by investors[90]. Compliance and Legal Matters - The company has not experienced any major litigation or arbitration matters during the reporting period, indicating a stable legal environment[103]. - The controlling shareholder and actual controllers maintained good integrity status, with no unfulfilled court judgments or significant overdue debts[103]. - The company has committed to fulfilling all obligations disclosed in the IPO prospectus, ensuring transparency and accountability[102]. - The company has not reported any significant asset acquisitions or disposals, indicating a cautious approach to expansion[106]. - The company has not disclosed any environmental information as it does not fall under the categories requiring disclosure[114].