[Main Financial Data](index=1&type=section&id=Item%20I.%20Main%20Financial%20Data) [Key Accounting Data and Financial Indicators](index=1&type=section&id=Item%20(I)%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In Q3 and the first three quarters of 2021, the company achieved significant year-on-year growth in revenue and net profit, despite a substantial decrease in net cash flow from operating activities Core Income Statement Indicators for Q3 and YTD 2021 | Indicator | Current Period (Q3) (RMB) | Year-on-Year Growth (%) | Year-to-Date (Q1-Q3) (RMB) | Year-on-Year Growth (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 199,469,300.49 | 76.93 | 437,176,118.51 | 61.53 | | Net Profit Attributable to Shareholders | 12,025,779.02 | 71.09 | 40,377,192.84 | 35.99 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 11,413,918.25 | 100.14 | 38,741,669.95 | 56.08 | | Basic Earnings Per Share (RMB/share) | 0.09 | 28.57 | 0.31 | 6.90 | Key Balance Sheet and Cash Flow Indicators at Period End | Indicator | Period-End Value (RMB) | Growth from Previous Year-End (%) | | :--- | :--- | :--- | | Total Assets | 1,223,578,284.06 | 9.16 | | Owners' Equity Attributable to Shareholders | 851,945,295.05 | 0.19 | | Net Cash Flow from Operating Activities (YTD) | 7,655,788.43 | -76.73 | [Non-recurring Gains and Losses Items and Amounts](index=2&type=section&id=Item%20(II)%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Non-recurring gains and losses positively impacted net profit, totaling **1.64 million RMB** year-to-date, primarily from government subsidies and financial asset gains Major Non-recurring Gains and Losses Items YTD | Item | Amount (RMB) | | :--- | :--- | | Government Subsidies Included in Current Profit/Loss | 1,214,783.13 | | Gains/Losses from Financial Assets | 1,974,470.30 | | Gains/Losses from Disposal of Non-current Assets | -844,029.20 | | Other Non-operating Income and Expenses | -231,313.33 | | Income Tax Impact | -478,388.01 | | **Total** | **1,635,522.89** | [Analysis of Major Financial Indicator Changes](index=4&type=section&id=Item%20(III)%20Analysis%20of%20Major%20Financial%20Indicator%20Changes) Strong revenue and profit growth are attributed to increased sales volume, while a significant decline in operating cash flow is due to higher raw material and payroll expenses - Growth in operating revenue, net profit attributable to shareholders, and non-recurring net profit is primarily due to **increased sales volume**[10](index=10&type=chunk) - Net cash flow from operating activities decreased by **76.73%** year-on-year, mainly due to **increased payments for raw materials and employee salaries**[10](index=10&type=chunk) [Shareholder Information](index=4&type=section&id=Item%20II.%20Shareholder%20Information) [Shareholding Structure](index=4&type=section&id=Item%20(I)%20Shareholding%20Structure) The company has **10,758 shareholders**, with highly concentrated ownership where the controlling shareholder and related parties hold a dominant stake - Total number of common shareholders at the end of the reporting period was **10,758**[12](index=12&type=chunk) Top Three Shareholders' Holdings | Shareholder Name | Number of Shares Held | Shareholding Ratio (%) | | :--- | :--- | :--- | | FaShilong Investment Holding Co., Ltd. | 72,000,000 | 55.74 | | Shen Zhenghua | 11,520,000 | 8.92 | | Wang Xuejuan | 4,500,000 | 3.48 | - FaShilong Investment Holding Co., Ltd., Shen Zhenghua, Wang Xuejuan, Wang Xuehua, and Shen Zhengming form a **concerted action group**, further consolidating control[14](index=14&type=chunk) [Quarterly Financial Statements](index=6&type=section&id=Item%20IV.%20Quarterly%20Financial%20Statements) [Consolidated Balance Sheet](index=6&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2021, total assets increased by **9.16%** to **1.22 billion RMB**, driven by inventory and fixed assets, while total liabilities rose significantly by **37.32%** Major Balance Sheet Item Changes | Item | September 30, 2021 (RMB) | December 31, 2020 (RMB) | Change Rate (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,223,578,284.06 | 1,120,948,095.20 | 9.16 | | Total Liabilities | 371,632,989.01 | 270,628,647.39 | 37.32 | | Owners' Equity Attributable to Parent Company | 851,945,295.05 | 850,319,447.81 | 0.19 | - Current liabilities grew significantly, with **short-term borrowings increasing from 0.1 million RMB to 30.1 million RMB**, and **notes payable from 72.31 million RMB to 147 million RMB**[16](index=16&type=chunk)[17](index=17&type=chunk) [Consolidated Income Statement](index=9&type=section&id=Consolidated%20Income%20Statement) For the first three quarters of 2021, total operating revenue grew by **61.53%** to **437.18 million RMB**, and net profit attributable to shareholders increased by **35.99%** to **40.38 million RMB**, reflecting increased investment in sales and R&D Core Income Statement Data for Q1-Q3 2021 | Item | January-September 2021 (RMB) | January-September 2020 (RMB) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 437,176,118.51 | 270,645,182.15 | 61.53 | | Total Operating Costs | 390,294,099.78 | 238,507,874.78 | 63.64 | | Operating Profit | 48,021,017.51 | 32,878,813.73 | 46.06 | | Net Profit Attributable to Parent Company Shareholders | 40,377,192.84 | 29,690,647.62 | 35.99 | - Increased expense investment: **selling expenses rose from 20.67 million RMB to 40.51 million RMB**, and **R&D expenses from 10.22 million RMB to 16.62 million RMB**[19](index=19&type=chunk) [Consolidated Cash Flow Statement](index=11&type=section&id=Consolidated%20Cash%20Flow%20Statement) Net cash flow from operating activities for the first three quarters of 2021 significantly decreased by **76.73%** to **7.66 million RMB** due to higher expenditures, while investment activities turned positive and financing activities included new borrowings Consolidated Cash Flow Statement Overview for Q1-Q3 2021 | Item | January-September 2021 (RMB) | January-September 2020 (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 7,655,788.43 | 32,905,900.84 | | Net Cash Flow from Investing Activities | 35,863,968.73 | -139,265,712.75 | | Net Cash Flow from Financing Activities | 20,450,537.98 | 362,525,816.47 | | Net Increase in Cash and Cash Equivalents | 63,970,295.14 | 256,166,004.56 | - Operating cash inflow (cash received from sales) was **502 million RMB**, a **126.3% year-on-year increase**, but outflows (payments for goods, employee compensation) grew faster, leading to a net decrease[23](index=23&type=chunk)[24](index=24&type=chunk) - The company obtained **90 million RMB in new borrowings** and repaid **60.26 million RMB in debt** during the period, indicating active debt financing[25](index=25&type=chunk)

Financial Performance - The company's operating revenue for the first half of 2021 was ¥237,706,818.02, representing a 50.53% increase compared to ¥157,909,108.14 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2021 was ¥28,351,413.82, which is a 25.11% increase from ¥22,661,630.45 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥27,327,751.70, up 42.93% from ¥19,119,286.20 in the same period last year[21]. - The total revenue for the first half of 2021 reached ¥237,706,818.02, a 50.5% increase compared to ¥157,909,108.14 in the same period of 2020[108]. - Operating profit for the first half of 2021 was ¥32,104,523.77, up 33.1% from ¥24,117,293.29 in the first half of 2020[109]. - The net profit for the first half of 2021 was ¥28,351,413.82, representing a 25.5% increase from ¥22,661,630.45 in the same period of 2020[109]. - The company’s total comprehensive income for the first half of 2021 was CNY 29,237,865.51, consistent with the net profit reported[112]. - The total comprehensive income for the first half of 2021 was ¥28,351,413.82[123]. Cash Flow and Assets - The net cash flow from operating activities decreased by 29.60%, amounting to ¥15,757,864.72 compared to ¥22,384,800.98 in the previous year[21]. - Cash and cash equivalents at the end of the reporting period amounted to 241.79 million, with restrictions due to guarantees and pledges[47]. - The company reported a significant increase in contract liabilities to CNY 41,643,483.53 from CNY 33,013,031.34, representing a growth of approximately 26.2%[103]. - The company’s cash flow from operating activities decreased by 29.60% to ¥15,757,864.72, primarily due to increased payments for raw materials and employee wages[42]. - The total amount used for share repurchase should not exceed 30% of the net profit attributable to the parent company's shareholders from the previous fiscal year[79]. - The ending balance of cash and cash equivalents as of June 30, 2021, was ¥368,458,785.86, up from ¥170,635,493.56 at the end of the previous year[120]. Market and Business Operations - The company attributed the increase in operating revenue to growth in sales volume[22]. - The main business involves the research, production, and sales of integrated ceilings and walls, with no significant changes since establishment[28]. - The integrated ceiling industry is transitioning to a "top-wall integration" era, expanding product lines to include living room and bedroom applications[35]. - The company has expanded its market from residential to commercial sectors, including hotels and office buildings[35]. - The company operates under a "sales-driven production" model, adjusting production plans based on sales forecasts and historical data[31]. - The company has established a comprehensive procurement, research, production, and sales system to enhance operational efficiency[31]. Research and Development - Research and development expenses increased by 64.60% to ¥8,994,478.13, indicating a focus on innovation[42]. - The company has been recognized as a high-tech enterprise and has a dedicated R&D center for product innovation[38]. Shareholder and Governance - The company appointed a new financial officer, Chen Zhenhua, on June 23, 2021, after the resignation of Wang Qinfeng[59]. - The company did not propose any profit distribution or capital reserve transfer plans for the first half of 2021[60]. - The company has undergone changes in its board of directors, with the election of Zhu Lixiang as an independent director on June 19, 2021[59]. - The total number of ordinary shareholders at the end of the reporting period was 12,524[93]. Social Responsibility - The company has contributed to social employment by hiring over 300 individuals from January to June 2021[62]. - The company donated 200,000 yuan to support local cultural initiatives in Jiaxing on June 1, 2021[63]. - The company has maintained its commitment to social responsibility by donating 20,000 yuan to the Red Cross for assistance programs on May 28, 2021[63]. Risks and Challenges - The company faces risks from intensified market competition and potential declines in profit margins[53]. - The company is focusing on brand marketing and expanding product categories to mitigate risks from the real estate sector[53]. Financial Position - The total assets at the end of the reporting period were ¥1,174,630,790.43, reflecting a 4.79% increase from ¥1,120,948,095.20 at the end of the previous year[21]. - The net assets attributable to shareholders decreased by 1.22%, totaling ¥839,919,516.03 compared to ¥850,319,447.81 at the end of the previous year[21]. - The gross profit margin was impacted by a 53.51% increase in operating costs, which reached ¥165,557,271.44[41]. - The company’s equity decreased slightly to ¥828,775,634.76 from ¥838,289,114.85, a decline of 1.5%[106]. Compliance and Regulations - The company voluntarily accepts supervision from regulatory authorities and the public, committing to legal responsibilities for any violations[85]. - The company has not reported any significant litigation or arbitration matters during the reporting period[86]. - The company has not faced any adverse integrity issues related to its controlling shareholders or actual controllers[86]. Accounting Policies - The company adheres to the accounting standards for enterprises, ensuring that its financial statements reflect a true and complete picture of its financial status and operating results[145]. - The company’s financial statements are prepared based on the assumption of going concern, with no significant doubts regarding its ability to continue operations for the next 12 months[143]. - Revenue is recognized based on the transfer of control of goods or services to customers, either over time or at a point in time[194].

公司代码：605318 公司简称：法狮龙 法狮龙家居建材股份有限公司 2021 年第一季度报告 1 / 21 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 9 | 2021 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减(%) | | | 总资产 | 1,088,003,020.68 | 1,120,948,095.20 | | -2.94 | | 归属于上市公司 | 860,466,573.34 | 850,319,447.81 | | 1.19 | | 股东的净资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | 经营活动产生的 | -103,191,643.72 | -39,986,572.07 | | 158.07 | | 现金流量净额 | | | | | | | ...

Financial Performance - The company's operating revenue for 2020 was CNY 448,148,002.13, a decrease of 6.64% compared to CNY 480,008,871.27 in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 64,193,711.08, down 24.19% from CNY 84,671,524.86 in 2019[23]. - The basic earnings per share for 2020 was CNY 0.60, a decrease of 31.03% from CNY 0.87 in 2019[25]. - The weighted average return on equity decreased to 11.14% in 2020, down 11.12 percentage points from 22.26% in 2019[25]. - The company reported a net asset attributable to shareholders of CNY 850,319,447.81 at the end of 2020, which is a 101.13% increase from CNY 422,779,221.48 at the end of 2019[24]. - The company experienced a net loss of CNY 1,527,004.18 from non-recurring gains and losses in 2020[27]. - The total non-recurring gains and losses amounted to CNY 6,568,985.01 in 2020, compared to CNY 11,113,662.85 in 2019[29]. - The company's total operating costs for 2020 were CNY 379,296,071.40, down from CNY 390,834,022.87 in 2019, indicating a reduction of about 2.4%[188]. - The total comprehensive income for 2020 was CNY 57,960,185.86, down from CNY 80,865,464.55 in 2019[192]. Cash Flow and Investments - The cash flow from operating activities increased by 19.72% to CNY 123,920,360.48 in 2020, compared to CNY 103,509,695.10 in 2019[23]. - The company reported a significant decrease in investment cash flow, down 1,123.32% to CNY -444,341,239.33, due to increased purchases of principal-protected financial products[48]. - Total cash inflow from operating activities was CNY 532,966,528.53, a decrease of 2.5% compared to CNY 544,398,277.99 in the previous year[194]. - Cash inflow from investment activities was CNY 85,157,671.95, significantly lower than CNY 433,372,769.03 in the previous year, leading to a net cash outflow of CNY 444,341,239.33[195]. - The parent company reported a net cash outflow from investment activities of CNY 428,505,978.32, a significant decrease from CNY 38,764,578.89 in the previous year[198]. Dividend Policy - The company plans to distribute a cash dividend of 3.00 RMB per 10 shares, totaling 38,751,345.6 RMB, which accounts for 60.37% of the net profit attributable to shareholders for 2020[5]. - The dividend distribution proposal for 2020 has been approved by the company's board and is pending approval from the annual shareholders' meeting[90]. - The company aims to maintain a consistent cash dividend policy, distributing at least 30% of the average distributable profit over the last three years[85]. - The company plans to strengthen product competitiveness by improving quality, functionality, and pricing to meet customer demands[76]. Market Presence and Business Strategy - The company primarily engages in the research, production, and sales of integrated ceilings and walls, with no significant changes in its main business since establishment[32]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30]. - As of December 31, 2020, the company had 1,401 dealers nationwide, covering major cities and some third and fourth-tier cities[39]. - The company has established a dealer network with 1,153 dealers in third and fourth-tier cities, enhancing its market presence and resilience against real estate regulation risks[41]. - The integrated ceiling industry is expanding into public decoration markets, including hotels, office buildings, hospitals, and shopping malls, increasing market size[37]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[4]. - The company has confirmed that all board members attended the board meeting, ensuring the accuracy and completeness of the annual report[8]. - The company has established internal control systems in compliance with relevant laws and regulations to enhance governance and operational standards[161]. - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2020[171]. - There were no significant lawsuits or arbitration matters during the reporting period[111]. Shareholder Information and Stock Performance - The total number of ordinary shares increased from 96,878,364 to 129,171,152 shares after the IPO on August 3, 2020, with 32,292,788 shares issued, representing 25% of the total share capital[127]. - The largest shareholder, Lawson Dragon Investment Holdings Co., Ltd., held 72,000,000 shares, accounting for 55.74% of the total shares[134]. - The company has a total of 72,000,000 shares held by Fashilong Investment Holdings Co., Ltd., which will be available for trading after August 3, 2023[137]. - The company has committed to publicly disclose reasons for any failure to fulfill commitments made in the prospectus and will compensate investors for losses incurred due to such failures[107]. Employee and Management Information - The total number of employees in the parent company is 524, with a total of 620 employees across the parent company and major subsidiaries[154]. - The company has established a training plan to improve employee skills and align with overall business development needs[156]. - The total pre-tax remuneration for the directors and senior management during the reporting period amounted to 2.61 million yuan[147]. - The management team has extensive experience in the industry, with key members having served in various capacities since 1995[148][149].

Financial Performance - Revenue for the first nine months decreased by 9.41% year-on-year, amounting to CNY 270,645,182.15[7] - Net profit attributable to shareholders decreased by 13.31% year-on-year, totaling CNY 29,690,647.62[7] - Net profit excluding non-recurring gains and losses decreased by 20.55% year-on-year, amounting to CNY 24,822,282.01[8] - Basic and diluted earnings per share decreased by 17.14% year-on-year, standing at CNY 0.29 per share[8] - The weighted average return on equity decreased by 2.75 percentage points to 5.73%[8] - Net profit for the first three quarters of 2020 was CNY 270,645,182.15, down from CNY 298,742,075.24 in the same period of 2019, indicating a decrease of approximately 9.4%[27] - The net profit for Q3 2020 was CNY 7,029,017.17, a decrease of 48.7% from CNY 13,716,433.12 in Q3 2019[30] - The total comprehensive income for Q3 2020 was CNY 7,029,017.17, consistent with the net profit, indicating no significant other comprehensive income items[30] Assets and Liabilities - Total assets increased by 66.50% year-on-year, reaching CNY 1,010,691,492.67[7] - Total assets increased to RMB 1.01 billion from RMB 607.01 million, reflecting growth in both current and non-current assets[20] - Total liabilities increased, with accounts payable rising by 146.71% to RMB 58.03 million from RMB 23.52 million due to increased use of bill settlement[16] - Total liabilities as of September 30, 2020, were CNY 179,885,193.45, up from CNY 165,831,204.64 at the end of 2019, indicating an increase of approximately 8.3%[25] - Total current assets amounted to CNY 389,916,378.49 as of Q3 2020, reflecting a significant liquidity position[44] - Total liabilities reached CNY 184,231,004.32, with current liabilities accounting for CNY 182,910,571.04, highlighting the company's short-term financial obligations[45] Shareholder Information - Net assets attributable to shareholders increased by 92.75% year-on-year, totaling CNY 814,902,414.53[7] - The total number of shareholders reached 16,904 by the end of the reporting period[12] - The largest shareholder, 法狮龙投资控股有限公司, holds 55.74% of the shares, totaling 72,000,000 shares[12] - The total equity attributable to shareholders increased to CNY 806,650,729.65 from CNY 416,982,413.74 at the end of 2019, marking an increase of approximately 93.1%[25] - The total equity attributable to shareholders was CNY 422,779,221.48, demonstrating a solid equity base for future growth[46] Cash Flow - Operating cash flow for the first nine months was CNY 32,905,900.84, a significant increase of 1,365.36% compared to the same period last year[7] - The company reported a net cash inflow from operating activities of RMB 32.91 million, a significant improvement from a net outflow of RMB 2.60 million in the previous year[16] - Cash inflow from operating activities totaled CNY 233,918,024.57 in the first three quarters of 2020, down 24.7% from CNY 310,702,783.50 in 2019[38] - Cash outflow from operating activities decreased to CNY 201,012,123.73 in 2020 from CNY 313,303,295.21 in 2019, indicating a reduction of approximately 35.8%[38] - The company raised CNY 362.53 million through its initial public offering, contributing to a 199.94% increase in cash and cash equivalents[16] - Cash and cash equivalents decreased by 42.64% to RMB 152.68 million from RMB 266.15 million due to increased investment in financial products[15] Inventory and Receivables - Accounts receivable increased by 117.01% to RMB 41.76 million from RMB 19.24 million, driven by increased sales through engineering channels[15] - Inventory rose by 32.06% to RMB 81.69 million from RMB 61.86 million, attributed to orders not yet delivered[15] - Inventory levels stood at CNY 61,855,989.78, which is crucial for assessing operational efficiency and supply chain management[44] Expenses and Costs - The company experienced a 34.14% reduction in selling expenses to RMB 20.67 million due to decreased marketing investments during the pandemic[16] - Total operating costs for Q3 2020 were CNY 103,985,565.28, up from CNY 86,912,907.62 in Q3 2019, reflecting an increase of about 19.6%[27] - The company incurred a financial expense of CNY 792,759.19 in Q3 2020, compared to a financial income of CNY 628,529.20 in Q3 2019, indicating a shift in financial performance[33] Research and Development - The company reported a research and development expense of CNY 4,752,568.40 for Q3 2020, compared to CNY 4,340,783.93 in Q3 2019, reflecting an increase of about 9.5%[27] - Research and development expenses for Q3 2020 were CNY 4,183,163.26, up 24.3% from CNY 3,364,396.28 in Q3 2019, reflecting increased investment in innovation[33] Future Outlook - The company expects to continue focusing on market expansion and new product development in the upcoming quarters[30]