Financial Performance - In Q1 2021, the company's operating revenue reached CNY 335.60 million, a year-on-year increase of 115.61% compared to CNY 155.65 million in the same period last year[10]. - The net profit attributable to shareholders was CNY 30.11 million, representing a significant increase of 225.96% from CNY 9.24 million in Q1 2020[10]. - The weighted average return on net assets increased to 2.70%, up 1.63 percentage points from 1.07% in the previous year[10]. - The basic earnings per share rose to CNY 0.08, a 166.67% increase from CNY 0.03 in the same period last year[10]. - The total profit for Q1 2021 was CNY 40,389,833.11, a substantial increase from CNY 10,969,411.91 in the same period last year[32]. - The company's operating profit for Q1 2021 was CNY 40,177,914.24, significantly higher than CNY 15,714,491.15 in Q1 2020[32]. - The income tax expense for Q1 2021 was CNY 10,276,005.10, compared to CNY 1,779,253.67 in Q1 2020, indicating a substantial increase[32]. - The company's net profit for Q1 2021 is not explicitly stated, but the substantial increase in revenue suggests a positive trend in profitability[30]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 3.11 billion, up 20.47% from CNY 2.59 billion at the end of the previous year[10]. - Total assets increased by 20.47% year-on-year, primarily due to the increase in raised funds[18]. - Net assets attributable to shareholders increased by 57.13% year-on-year, mainly due to the issuance of new shares[18]. - Total liabilities decreased from ¥1,188.88 million to ¥1,267.84 million, indicating improved financial stability[22]. - Total liabilities decreased to ¥972,125,263.41 in Q1 2021 from ¥1,002,633,334.08 in Q4 2020, showing a reduction of about 3.0%[26]. - Shareholders' equity increased to ¥1,648,293,490.28 in Q1 2021 from ¥1,038,082,455.94 in Q4 2020, representing a growth of approximately 58.8%[27]. Cash Flow - The net cash flow from operating activities was negative at CNY -189.98 million, a decline of 129.94% compared to CNY -82.62 million in the same period last year[10]. - Cash inflow from operating activities for Q1 2021 was CNY 304,329,054.97, an increase of 8.5% compared to CNY 280,367,918.75 in Q1 2020[36]. - Net cash flow from operating activities for Q1 2021 was -CNY 189,981,633.14, worsening from -CNY 82,623,452.89 in Q1 2020[36]. - Cash outflow from investing activities in Q1 2021 was CNY 104,758,974.02, compared to CNY 73,451,649.97 in Q1 2020, resulting in a net cash flow of -CNY 67,636,288.22[37]. - Total cash inflow from financing activities in Q1 2021 was CNY 687,582,000.00, significantly higher than CNY 56,880,000.00 in Q1 2020[37]. - Net cash flow from financing activities for Q1 2021 was CNY 602,634,798.84, compared to CNY 56,667,790.39 in Q1 2020[37]. - The ending cash and cash equivalents balance for Q1 2021 was CNY 543,572,856.54, up from CNY 55,374,551.78 in Q1 2020[37]. - Cash inflow from sales of goods and services for Q1 2021 was CNY 297,469,589.04, an increase from CNY 229,420,870.61 in Q1 2020[38]. - Total cash outflow from operating activities in Q1 2021 was CNY 428,678,628.16, compared to CNY 275,512,694.80 in Q1 2020[39]. - The net increase in cash and cash equivalents for Q1 2021 was CNY 440,923,686.24, contrasting with a decrease of -CNY 68,720,935.10 in Q1 2020[39]. Research and Development - The company has developed the "Wangli Smart Door," featuring advanced technologies such as intelligent recognition and automatic defense, showcased at major internet conferences[5]. - The company reported a research and development expense of ¥11,277,576.77 for Q1 2021, compared to ¥4,879,768.51 in Q1 2020, indicating an increase of approximately 131.5%[30]. - Research and development expenses for Q1 2021 amounted to CNY 9,912,917.86, compared to CNY 4,206,582.30 in Q1 2020, reflecting a 135.0% increase[33]. Strategic Initiatives - The company plans to build a digital smart factory with an investment of CNY 968 million, covering an area of 230,000 square meters[4]. - The company aims to integrate various business segments to create a comprehensive smart security and home ecosystem[6]. - The company is focused on expanding its market presence and enhancing product development strategies[19]. - The company has plans for market expansion and new product development, although specific details were not provided in the financial report[30]. Ownership and Shareholder Information - The number of shareholders reached 36,619, reflecting a stable investor base[16]. - The top ten shareholders hold a combined 83.84% of shares, indicating concentrated ownership[16]. - The company has no overdue commitments or significant unresolved issues during the reporting period[19].

Financial Performance - The company's operating revenue for 2020 was CNY 2,113,912,415.29, representing an increase of 8.36% compared to CNY 1,950,911,144.78 in 2019[30]. - The net profit attributable to shareholders for 2020 was CNY 239,735,321.65, up 13.17% from CNY 211,843,845.42 in 2019[31]. - The net cash flow from operating activities increased by 22.09% to CNY 355,562,451.48 in 2020, compared to CNY 291,225,360.31 in 2019[31]. - Total assets at the end of 2020 reached CNY 2,585,423,335.74, a 32.60% increase from CNY 1,949,848,433.84 at the end of 2019[31]. - The net assets attributable to shareholders increased by 27.86% to CNY 1,100,358,364.69 at the end of 2020, compared to CNY 860,610,960.75 at the end of 2019[31]. - Basic earnings per share increased by 14.04% to CNY 0.65 in 2020 compared to CNY 0.57 in 2019[32]. - The weighted average return on equity decreased to 24.45% in 2020 from 25.48% in 2019, a decline of 1.03 percentage points[32]. - The gross profit margin for the door segment was 32.2%, an increase of 8.81% year-on-year[70]. - The company achieved a revenue of CNY 2,113,912,415.29, representing an 8.36% increase compared to the previous year[65]. - The net profit attributable to the parent company was CNY 239,735,300, reflecting a 13.17% growth year-on-year[65]. Dividend Policy - The company plans to distribute a cash dividend of 2.5 yuan per 10 shares to all shareholders, with no stock bonus or capital increase[4]. - In 2020, the company reported a net profit attributable to shareholders of approximately 239.74 million RMB, with a cash dividend payout ratio of 45.47%[117]. - The company has not proposed any share buyback plans during the reporting period, indicating a focus on cash dividends instead[118]. Market Presence and Strategy - The company has established a sales network covering all 30 provinces, autonomous regions, and municipalities in China, indicating a strong market presence[11]. - The company plans to expand its market presence and enhance product offerings through new technology developments and strategic partnerships[21]. - The company is focusing on the integration of smart home technologies to improve user experience and security[21]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product portfolio[21]. - The company plans to strengthen its domestic distribution network and increase collaboration with engineering channel partners[64]. - The company is committed to maintaining high standards of product quality and safety, which is essential for sustaining customer trust and loyalty[88]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, particularly related to the real estate sector, which significantly impacts demand for its products[10]. - The company acknowledges the risk of intensified market competition as new entrants with strong capital may disrupt the industry landscape[9]. - The company is actively monitoring the risks associated with its receivables and raw material costs to mitigate potential negative impacts on cash flow and operational performance[110][111]. - The competitive landscape in the security door and lock industry is intensifying, with many regional brands and potential new entrants posing challenges to market share[107]. - The company faces risks related to product imitation and infringement, as the market for security doors and smart home products is fragmented with many low-investment manufacturers[112]. Research and Development - Investment in research and development is prioritized to innovate and launch new products that meet evolving consumer demands[21]. - Research and development expenses increased by 26.85% to CNY 54,597,766.05, indicating a focus on innovation[67]. - The company is expanding into high-end wooden doors and smart integrated products, aiming for a complete smart home ecosystem[64]. - The company has developed a range of smart products, including smart doors and security locks, which utilize advanced technologies for user convenience and safety[44]. Compliance and Governance - The company has not encountered any violations of decision-making procedures regarding external guarantees[7]. - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy of its financial statements[3]. - The company has committed to timely and adequate disclosure of any unfulfilled commitments that may cause losses to investors[145]. - The company has established measures to ensure that directors and senior management do not engage in activities that could harm the company's interests[145]. Environmental Responsibility - The company is classified as a key pollutant discharge unit in Zhejiang Province, focusing on water, air, and soil environments[168]. - The company has implemented various pollution control facilities, ensuring that emissions meet high-altitude discharge standards[169]. - Environmental investments during the reporting period were primarily for purchasing equipment, wastewater treatment, and waste disposal, with all facilities operating effectively[171]. - The company has obtained environmental impact assessment approvals for new projects, including a smart home production base with an annual capacity of 360,000 sets[172]. Shareholder Structure - The largest shareholder, Wangli Group, holds 52.50% of the shares, totaling 193,725,000 shares[185]. - Zhejiang Wangli Electric Vehicle Co., Ltd. is the second-largest shareholder with 20.00% of the shares, totaling 73,800,000 shares[185]. - The controlling shareholders, Wang Yuebing, Chen Xiaojun, and Wang Chen, collectively hold 52.50% of the company's shares[189].