Financial Performance - The company's operating revenue for the first half of 2021 was RMB 418,754,310.75, representing a year-on-year increase of 60.15% compared to RMB 261,476,730.64 in the same period last year[20]. - The net profit attributable to shareholders of the listed company reached RMB 124,431,865.38, up 64.19% from RMB 75,783,411.16 in the previous year[20]. - The net cash flow from operating activities improved significantly to RMB 67,305,862.13, compared to a negative cash flow of RMB -12,047,621.90 in the same period last year[20]. - The company's total assets increased by 5.26% to RMB 2,101,283,356.85 from RMB 1,996,307,603.83 at the end of the previous year[20]. - The net assets attributable to shareholders rose to RMB 1,766,144,213.38, reflecting a 3.96% increase from RMB 1,698,892,264.08 at the end of the previous year[20]. - Basic earnings per share for the first half of 2021 were RMB 0.88, a 22.22% increase from RMB 0.72 in the same period last year[21]. - The weighted average return on equity decreased to 7.10%, down 2.99 percentage points from 10.09% in the previous year[21]. Market and Industry Insights - The increase in revenue and profit is attributed to the effective control of the pandemic and increased market demand[22]. - The integrated stove market size reached RMB 11.3 billion in the first half of 2021, representing a year-on-year increase of 73%[32]. - The overall kitchen and bathroom market in China reached RMB 72.6 billion in the first half of 2021, with a year-on-year growth of 25.8%[32]. - The integrated stove industry has maintained a steady growth rate of over 10% annually, even during the pandemic[32]. Product Development and Innovation - The company has developed 17 models of integrated stoves in the popular steam and bake category, addressing diverse consumer needs[35]. - The company has successfully developed a fresh-keeping steam box product, overcoming key technical challenges related to high temperatures[35]. - The company holds 229 patents, including 9 invention patents, 104 utility model patents, and 116 design patents[34]. - The company has participated in the drafting of 3 international standards and 19 national standards, showcasing its industry influence[34]. Distribution and Sales Strategy - The company has established nearly 1,300 distributors and over 1,600 sales terminals by the end of the reporting period[29]. - The company has implemented a flat and efficient distribution model, enhancing service efficiency and price uniformity[29]. - The company has signed a brand ambassador and utilized various media platforms for brand promotion, increasing brand recognition in the integrated stove industry[34]. - The company established 270 new offline retail outlets, achieving nationwide coverage in key cities[39]. - The company has formed strategic partnerships with Red Star Macalline and Juran Home to enhance offline sales channels[39]. Financial Governance and Shareholder Commitments - The company plans not to distribute cash dividends or issue bonus shares during the reporting period[4]. - The company has committed to a 36-month lock-up period for shares held by major shareholders, starting from the date of listing[80]. - Major shareholders are prohibited from transferring or entrusting their shares during the lock-up period, ensuring stability in shareholding[82]. - The company has outlined specific conditions under which shareholders can reduce their holdings, including a maximum of 25% of their total shares per year post-lock-up[85]. - The commitments made by shareholders are designed to protect the interests of investors and maintain the integrity of the stock price[80]. Risks and Challenges - The company is facing risks related to raw material price fluctuations, which could adversely affect operational performance[64]. - The competitive landscape in the integrated stove market is intensifying, with numerous brands entering the sector, posing challenges for the company[66]. - The company has noted potential risks from real estate policy changes that may impact sales and operations in the home appliance sector[65]. Environmental and Social Responsibility - The company emphasizes environmental protection and adheres to national emission standards, with third-party monitoring confirming compliance with air and water pollution standards[76]. - The company has implemented measures for clean production and energy conservation, focusing on reducing emissions and improving efficiency in its products[77]. - The company was awarded the "Outstanding Contribution Award" for its efforts in pandemic relief by the Zhejiang Provincial Corporate Social Responsibility Promotion Association[45]. Financial Reporting and Compliance - The financial statements were prepared in accordance with the accounting standards issued by the Ministry of Finance[156]. - The company has not reported any changes in the scope of consolidation for the financial statements as of June 30, 2021[155]. - The company recognizes revenue when control of goods or services is transferred to the customer, which is when the customer can direct the use of the goods or services and obtain almost all economic benefits[197].

Financial Performance - Operating revenue surged by 164.06% to CNY 155,252,191.89 year-on-year[5] - Net profit attributable to shareholders increased by 127.08% to CNY 34,154,487.51 compared to the same period last year[5] - Net profit attributable to shareholders after deducting non-recurring gains and losses rose by 333.23% to CNY 31,205,230.35[5] - Basic and diluted earnings per share both reached CNY 0.24, a 71.43% increase from the previous year[6] - The total profit for Q1 2021 was CNY 43,962,541.57, compared to CNY 17,413,922.15 in Q1 2020, representing a significant increase[29] - The net profit for Q1 2021 reached CNY 33,750,975.57, up from CNY 14,799,863.37 in the same period last year, indicating a growth of approximately 127%[29] Cash Flow - Net cash flow from operating activities was CNY 2,948,768.17, a significant recovery from a loss of CNY 88,544,747.62 in the same period last year[5] - Cash inflow from operating activities totaled CNY 186,583,660.11 in Q1 2021, compared to CNY 60,831,825.42 in Q1 2020, marking an increase of about 206%[31] - Cash outflow from operating activities was CNY 183,634,891.94 in Q1 2021, compared to CNY 149,376,573.04 in Q1 2020, reflecting a rise of approximately 23%[31] - The company reported a net cash flow from financing activities of -456,058,526.99 RMB, indicating a significant outflow compared to the previous period[35] Assets and Liabilities - Total assets increased by 0.99% to CNY 2,016,140,067.98 compared to the end of the previous year[5] - The total amount of trading financial assets surged by 355.64%, reaching RMB 553,318,205.04, up from RMB 121,437,202.73[12] - Total liabilities decreased to ¥283,093,316.39 from ¥297,415,339.75, a reduction of about 4.8%[19] - The company's equity attributable to shareholders increased to ¥1,733,046,751.59 from ¥1,698,892,264.08, reflecting a growth of approximately 2.0%[19] - The total liabilities rose from 297,415,339.75 RMB to 299,083,552.86 RMB, an increase of about 0.56%[39] Shareholder Information - The total number of shareholders reached 15,944 by the end of the reporting period[9] - The largest shareholder, Zhejiang Shuaifeng Investment Co., Ltd., holds 37.50% of the shares, totaling 52,800,000 shares[9] Research and Development - Research and development expenses increased by 124.74%, amounting to RMB 6,038,509.95 compared to RMB 2,686,912.69 in Q1 2020[13] Market Strategy - The company plans to continue expanding its market presence and investing in new product development to sustain growth momentum[25] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[29]

Financial Performance - Operating revenue for the first quarter was ¥155,252,191.89, representing a significant increase of 164.06% year-on-year[5] - Net profit attributable to shareholders was ¥34,154,487.51, up 127.08% from the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥31,205,230.35, an increase of 333.23% year-on-year[5] - Basic and diluted earnings per share were both ¥0.32, reflecting an increase of 128.57% compared to the previous year[6] - The operating profit for Q1 2021 was RMB 42.83 million, a 123.04% increase from RMB 19.20 million in Q1 2020, indicating improved operational efficiency[13] - The company reported a gross profit of ¥73,462,073.72 for Q1 2021, compared to ¥27,307,331.34 in Q1 2020, indicating a gross margin improvement[25] - The total profit for Q1 2021 was CNY 43,962,541.57, compared to CNY 17,413,922.15 in Q1 2020, representing a year-over-year increase of approximately 152.5%[29] - The net profit for Q1 2021 reached CNY 33,750,975.57, up from CNY 14,799,863.37 in Q1 2020, indicating a growth of about 127.8%[29] Cash Flow and Liquidity - The net cash flow from operating activities was ¥2,948,768.17, a significant recovery from a loss of ¥88,544,747.62 in the same period last year[5] - Cash received from sales increased by 281.46% to RMB 183.29 million from RMB 48.05 million, highlighting strong sales performance[14] - Operating cash inflow for Q1 2021 was CNY 186,583,660.11, significantly higher than CNY 60,831,825.42 in Q1 2020, marking an increase of approximately 206.5%[31] - The cash flow from operating activities showed a net increase of CNY 2,948,768.17 in Q1 2021, compared to a net outflow of CNY 88,544,747.62 in Q1 2020[31] - The total cash and cash equivalents at the end of Q1 2021 were CNY -426,965,311.34, down from CNY 29,570,777.77 at the beginning of the period[32] - The company incurred cash outflows of CNY 182,745,370.68 for operating activities in Q1 2021, compared to CNY 149,573,437.57 in Q1 2020[34] Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,016,140,067.98, an increase of 0.99% compared to the end of the previous year[5] - Total liabilities decreased by 39.72% to ¥10.60 million from ¥17.59 million, primarily due to the payment of year-end bonuses in 2020[13] - Current assets totaled ¥1,057,410,528.5, slightly down from ¥1,058,374,555.99 at the end of 2020, indicating a decrease of about 0.09%[18] - Total liabilities decreased to ¥283,093,316.39 from ¥297,415,339.75, a reduction of about 4.8%[19] - The company reported a significant increase in trading financial assets, rising to ¥553,318,205.04 from ¥121,437,202.73, a growth of approximately 354.5%[20] - The company's total current assets amounted to 1,058,374,555.99 RMB, showing a slight decrease from 1,057,815,229.99 RMB[38] - The total liabilities rose from 297,415,339.75 RMB to 299,083,552.86 RMB, an increase of about 0.56%[39] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,944[9] - The largest shareholder, Zhejiang Shuaifeng Investment Co., Ltd., held 37.50% of the shares, totaling 52,800,000 shares[9] - Shareholders' equity increased to ¥1,733,046,751.59 from ¥1,698,892,264.08, reflecting a growth of approximately 2.0%[19] - The company’s total equity remained stable at 1,698,892,264.08 RMB, indicating no change during the reporting period[40] Research and Development - Research and development expenses rose by 124.74% to RMB 6.04 million from RMB 2.69 million, reflecting increased investment in innovation[13] - Research and development expenses for Q1 2021 amounted to ¥6,038,509.95, which is 124.8% higher than ¥2,686,912.69 in Q1 2020[25] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[18] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[25]

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 194,259,787.65 in 2020, representing an increase of 11.66% compared to RMB 173,966,630.77 in 2019[5]. - Total revenue for 2020 was RMB 713,990,084.02, reflecting a growth of 2.26% from RMB 698,223,676.08 in 2019[22]. - The company's basic earnings per share increased to RMB 1.70, up 3.03% from RMB 1.65 in the previous year[22]. - The net cash flow from operating activities decreased by 28.61% to RMB 173,732,729.58 from RMB 243,347,050.70 in 2019[22]. - The total assets of the company reached RMB 1,996,307,603.83 at the end of 2020, a 97.48% increase from RMB 1,010,911,264.56 at the end of 2019[22]. - The net assets attributable to shareholders increased by 138.14% to RMB 1,698,892,264.08 from RMB 713,384,288.17 in 2019[22]. - The weighted average return on equity decreased to 19.27%, down 8.50 percentage points from 27.77% in 2019[22]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching RMB 179,542,330.24, which is a 20.68% increase from RMB 148,775,557.60 in 2019[22]. Market and Product Development - The integrated stove market in China saw a retail sales growth of 13.9% in 2020, with total retail sales reaching ¥18.22 billion[36]. - The market penetration rate of integrated stoves increased to 4.2% in 2020, up from 3.5% in the previous year, indicating a growing acceptance of this product category[36]. - The forecast for 2021 predicts a 21.4% increase in retail sales for integrated stoves, reaching an estimated ¥22.12 billion[36]. - The company plans to expand its product offerings in the smart kitchen appliance category while strengthening its core integrated stove business[31]. - The company has developed and mastered core technologies for integrated stoves, holding a total of 217 patents, including 9 invention patents, 97 utility model patents, and 111 design patents[48]. - The company has implemented a differentiated product strategy, launching over a hundred product models to meet diverse consumer needs[49]. - The company launched the U1M-7B integrated stove in collaboration with Alibaba, addressing the high-end market demand for steam and baking integrated products[59]. - The X1-7B integrated stove features a 5.2kW high-efficiency burner and an independent cavity design for the steam and baking functions, enhancing cooking efficiency and healthiness[59]. Sales and Marketing Strategy - The sales model combines online and offline strategies, with over 1,200 primary distributors and more than 1,500 sales terminals established by the end of 2020[33]. - The company developed over 140 first-level distributors and more than 270 terminal sales points in 2020, totaling over 1,200 first-level distributors and 1,500 sales terminals by the end of the year[56]. - The company aims to enhance its sales network by expanding channels such as decoration companies and e-commerce platforms, with a multi-channel strategy for growth[95]. - The company actively engaged in brand promotion through various media channels, including a national star tour event to enhance brand awareness[57]. Research and Development - The company invested 26,557,625.11 CNY in R&D, which is a decrease of 5.71% from the previous year[65]. - The company employed 142 R&D personnel, accounting for 13.71% of the total workforce[80]. - The company applied for 6 invention patents and 33 utility model patents in 2020, receiving 23 patent authorizations, with a total of 217 patents authorized to date[58]. - The company has invested in smart manufacturing equipment and digital factory construction to enhance production efficiency and stability[44]. Corporate Governance and Compliance - The company’s financial statements received an unqualified audit opinion from Ernst & Young[104]. - The company has retained Ernst & Young Hua Ming as its auditor for the year 2020, with an audit fee of RMB 800,000.00[130]. - The company has not faced any penalties from securities regulatory authorities in the past three years[177]. - The company has maintained compliance with corporate governance standards as per the Company Law and Securities Law, ensuring accurate and timely information disclosure[183]. - The company has not reported any significant changes in its financial structure or major acquisitions during the reporting period[172]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of RMB 4.15 per 10 shares, totaling RMB 58,432,000.00 based on a total share capital of 14,080,000 shares[5]. - The company has a cash dividend policy that mandates a minimum distribution of 20% of the annual distributable profit if certain conditions are met[103]. - The cumulative distributable profit available for shareholders is ¥484,262,583.93, which includes the retained earnings from previous periods[104]. - The company has confirmed that it will not issue new shares or convert capital reserves into shares during the current dividend distribution[105]. - The company has a clear cash dividend policy that aims to protect the rights of minority investors[104]. Risks and Challenges - The company faces risks from raw material price fluctuations, as direct material costs accounted for about 80% of its operating costs from 2018 to 2020[97]. - The competitive landscape in the integrated stove market is intensifying, with multiple brands entering the market, increasing competition from both specialized and traditional kitchen appliance brands[100]. - The company is also exposed to risks from upstream real estate policies, which may affect the demand for integrated stoves in the future[99]. Internal Control and Management - There were no significant deficiencies in internal control reported during the period[191]. - The company confirmed that there were no risks identified by the supervisory board during the reporting period[189]. - The independent directors did not raise any objections to the company's matters during the reporting period[188]. - The management team is committed to maintaining transparency and accountability, as evidenced by the detailed reporting of executive compensation and shareholding[172].