奥园美谷科技股份有限公司 2022 年第三季度报告 证券代码：000615 证券简称：奥园美谷 公告编号：2022-083 奥园美谷科技股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 重要内容提示： 1、董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2、公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季 度报告中财务信息的真实、准确、完整。 3、第三季度报告是否经过审计 □是 否 1 奥园美谷科技股份有限公司 2022 年第三季度报告 一、主要财务数据 | | | 上年同期 | | 本报告期 比上年同 | 年初至报告期末 | 上年同期 | | 年初至报告 期末比上年 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 本报告期 | | | 期增减 | | | | 同期增减 | | | | 调整前 | 调整后 | 调整后 | | 调整 ...

Business Operations and Strategy - Aoyuan Beauty Valley reported a significant asset sale in 2021, completing the registration of the relevant companies, which has impacted its current business operations[5]. - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves for the reporting period[6]. - The company has undergone an industry classification change following the sale of its major real estate business, awaiting confirmation from the regulatory authority[5]. - The company is focusing on the biobased fiber and medical beauty sectors as its main business areas following a major asset restructuring in 2021[26]. - The company aims to become a leading brand in the beauty and health industry by integrating upstream and downstream operations in the medical aesthetics sector[37]. - The company is actively pursuing international certifications for high-end mask exports to enhance its market presence[31]. - The company is currently exploring market expansion opportunities but has not disclosed specific strategies[108]. Financial Performance - The company's operating revenue for the reporting period was ¥748,941,879.69, a decrease of 35.81% compared to the same period last year[20]. - The net profit attributable to shareholders was -¥78,341,490.47, representing a decline of 256.28% year-on-year[20]. - The net cash flow from operating activities improved to -¥40,562,655.45, an increase of 79.52% compared to the previous year[20]. - Total assets at the end of the reporting period were ¥3,920,181,737.39, down 8.16% from the end of the previous year[21]. - The net assets attributable to shareholders decreased to ¥1,345,312,373.86, a reduction of 6.26% compared to the previous year[21]. - The company's total revenue for the first half of 2022 was approximately ¥748.94 million, a decrease of 35.81% compared to ¥1.17 billion in the same period last year[41]. - The company reported a significant increase in sales expenses, which rose by 47.45% to ¥72.22 million, primarily due to increased costs in the medical beauty segment[41]. - The company's R&D investment increased by 13.78% to ¥14.96 million, reflecting ongoing development efforts[41]. Market and Industry Insights - The medical beauty market in China was valued at ¥189.1 billion in 2021, with a year-on-year growth of 22.1%[29]. - The projected market size for China's medical beauty industry is expected to reach ¥638.2 billion by 2030[29]. - The company has experienced a recovery in downstream demand for viscose filament, leading to an increase in prices[28]. - The global production capacity of viscose filament is approximately 280,000 tons, with China accounting for over 75% of this capacity[28]. Environmental and Social Responsibility - The company emphasizes environmental protection and sustainable development, adhering to strict pollutant discharge standards[80]. - The company actively engages in social responsibility initiatives, including building schools in impoverished areas and establishing charitable funds[80]. - The company has implemented automatic monitoring systems for wastewater and flue gas emissions, ensuring compliance with environmental standards[77]. - There were no administrative penalties related to environmental issues during the reporting period, indicating compliance with regulations[79]. Corporate Governance and Compliance - The financial report is guaranteed to be true, accurate, and complete by the company's management, including the legal representative and accounting personnel[4]. - The company is committed to maintaining shareholder rights and improving corporate governance structures to protect minority shareholders[80]. - The company has established a management system to prevent fund occupation by controlling shareholders and related parties[93]. - The company has not reported any significant contracts or performance issues during the reporting period[108]. Challenges and Risks - The company faced risks from the ongoing COVID-19 pandemic, which impacted business operations and consumer spending[60]. - The company has a substantial amount of external guarantees and bank loans, which pose a high financial risk if the guaranteed parties fail to repay their debts on time[62]. - The company has faced challenges due to fluctuating raw material prices and the impact of COVID-19 on consumer behavior, but it has adapted its strategies accordingly[36]. Shareholder Information - The largest shareholder, Shenzhen Aoyuan Kexing Investment Co., Ltd., holds 29.34% of the shares, totaling 229,231,817 shares[128]. - The total number of ordinary shareholders at the end of the reporting period is 96,407[127]. - The company has not experienced any changes in its controlling shareholder during the reporting period[131]. - The total number of shares before the change was 781,180,319, with no change in total shares during the reporting period[122]. Legal and Arbitration Matters - The company is involved in a significant arbitration case with Shenzhen Kaixian Investment Co., Ltd., with a claim amount of 407.9992 million yuan and overdue interest of 411.7527 million yuan[96]. - The company has a pending arbitration case with China Railway Fourth Bureau Group Co., Ltd., involving a claim amount of 367.4771 million yuan, which has not yet been heard[96]. - The company has confirmed daily related party transactions amounting to 185.81 million yuan, which did not exceed the expected amount for 2022[98].

Business Transition - The company reported a significant change in its main business, shifting from real estate to focus on chemical fiber new materials and medical beauty services[18]. - The company has undergone a major asset sale related to its real estate business, with the relevant companies completing industrial and commercial change registration[4]. - The company has completed the divestiture of its real estate business, focusing on medical beauty and chemical fiber new materials, with the medical beauty sector contributing to steady revenue growth post-pandemic[35]. - The company has shifted its main business focus to viscose new materials and medical beauty services after divesting from real estate operations[65]. - The company has divested its real estate business to concentrate on the medical beauty sector, optimizing its asset structure and business focus[53]. Financial Performance - The company's operating revenue for 2021 was approximately ¥1.54 billion, a decrease of 22.58% compared to ¥1.99 billion in 2020[19]. - The net profit attributable to shareholders was a loss of approximately ¥253.37 million, representing an 88.03% increase in losses compared to a loss of ¥134.75 million in 2020[19]. - The net profit after deducting non-recurring gains and losses was a loss of approximately ¥671.50 million, which is a 234.01% increase in losses compared to a loss of ¥201.04 million in 2020[19]. - The total assets at the end of 2021 were approximately ¥4.32 billion, a decrease of 54.29% from ¥9.45 billion at the end of 2020[19]. - The net assets attributable to shareholders decreased by 14.48%, totaling approximately ¥1.47 billion at the end of 2021 compared to ¥1.71 billion at the end of 2020[19]. Audit and Compliance - The company’s financial report has been audited by Zhongzheng Huayuan Accounting Firm, which issued an unqualified opinion with emphasis on certain matters[4]. - The company faced uncertainty regarding its ability to continue as a going concern, as indicated in the audit report for the most recent year[19]. - The company has not yet received approval from the China Securities Regulatory Commission regarding its industry classification results for Q4 2021[5]. - The company has not engaged in any securities or derivative investments during the reporting period[86][87]. - The company did not have any fundraising activities during the reporting period[88]. Strategic Development - The company plans to expand its medical beauty services and products through mergers and acquisitions, focusing on the Yangtze River Delta and Guangdong-Hong Kong-Macau Greater Bay Area[46]. - The company aims to establish a national beauty health brand and become a leading integrator in the beauty and health industry[46]. - The company is exploring market expansion opportunities and potential mergers and acquisitions to enhance its competitive position[108]. - The company aims to improve operational efficiency by implementing new technologies, expecting a reduction in operational costs by 10% in 2022[125]. - The company is committed to enhancing management efficiency and effectiveness through a global partner program and by attracting strategic talent in the medical beauty sector[101]. Research and Development - The company has completed the research and development of 60D ultra-fine filament, which meets the GB/T 13758 standard and is expected to increase profit by approximately 30,000 yuan per ton compared to regular filament[69]. - The company is actively pursuing new product development and market expansion, including collaborations with universities and research institutions[71]. - The company’s R&D investment amounted to ¥26,310,327.93, representing a 39.03% increase compared to ¥18,924,275.97 in the previous year[72]. - The company has established a salary distribution system linked to employee positions, performance, and capabilities, ensuring timely salary payments[145]. - The company is focused on becoming a leading supplier of medical mask substrates, targeting new materials for drug-loaded masks and enhancing production capacity for green fiber products[100]. Governance and Shareholder Relations - The company held 6 shareholder meetings during the reporting period, ensuring equal voting rights for all shareholders, particularly minority investors[111]. - The board of directors consists of 9 members, including 3 independent directors, and held 14 meetings throughout the year, adhering to legal and regulatory requirements[112]. - The company emphasizes the importance of stakeholder rights, aiming for a balance of interests among shareholders, employees, and suppliers[113]. - The company has established an independent accounting system and financial management practices, ensuring separate financial operations from the controlling shareholder[116]. - The company is committed to improving information disclosure quality and compliance with relevant laws and regulations[169]. Environmental Responsibility - The company operates three wastewater treatment plants with a total daily processing capacity of 54,500 tons, achieving a COD removal rate of 96.35%[174]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[176]. - The company emphasizes employee rights protection, adhering to labor laws and providing comprehensive training and social insurance, including medical and pension benefits[177]. - The company has invested nearly 100 million yuan in social welfare initiatives, including building five hope primary schools in impoverished areas[178]. - The company maintains a high level of resource utilization and strictly controls pollutant emissions during production, promoting green office practices[179]. Market Position and Future Outlook - The medical beauty market in China is characterized by a large consumer base, high growth potential, and low penetration, indicating significant room for expansion in the coming years[32]. - The company’s medical beauty materials have received international certifications, reinforcing its commitment to quality and sustainability in the production of high-end medical beauty products[36]. - The company is committed to building a nationwide trusted medical beauty brand and becoming an integrated player in the medical beauty ecosystem[97]. - The company plans to conduct a special audit report to verify the cumulative net profit of the target company at the end of the performance commitment period[191]. - The company is expected to receive cash compensation if the target company's cumulative net profit does not meet the commitment by the end of the performance period[191].

Financial Performance - The company's operating revenue for Q1 2022 was ¥312,221,838.58, a decrease of 48.56% compared to ¥606,999,592.94 in the same period last year[7] - The net profit attributable to shareholders was -¥38,781,641.68, representing a decline of 229.69% from ¥29,904,351.95 in the previous year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥42,469,118.77, a decrease of 254.07% compared to ¥27,565,019.31 in the same period last year[7] - The basic and diluted earnings per share were both -¥0.0496, down 229.50% from ¥0.0383 in the previous year[7] - Net profit for Q1 2022 was a loss of CNY 44,218,448.10, compared to a profit of CNY 23,335,388.95 in Q1 2021, representing a significant decline[19] - The company reported a total comprehensive loss of CNY 52,078,448.10 for Q1 2022, compared to a comprehensive income of CNY 21,325,388.95 in the same period last year[19] Cash Flow - The net cash flow from operating activities was -¥64,848,599.50, an improvement of 46.52% compared to -¥121,247,878.72 in the same period last year[7] - Cash received from sales of goods and services in Q1 2022 was CNY 303,266,370.05, an increase of 33.6% from CNY 226,918,553.76 in Q1 2021[21] - The total cash inflow from investment activities was 159,540,368.43 CNY, compared to 1,547,538.61 CNY in the same period last year[22] - The net cash flow from financing activities was -129,150,457.14 CNY, a decrease from a positive 59,835,200.00 CNY in the previous year[23] - Cash outflow from operating activities totaled 989,217,268.77 CNY, compared to 774,473,763.60 CNY in the previous year[22] - Cash outflow from investment activities was 180,937,391.24 CNY, significantly higher than 45,413,228.53 CNY in the same period last year[22] - Cash outflow from financing activities amounted to 132,252,779.45 CNY, compared to 168,314,800.00 CNY in the previous year[23] - The company received 3,000,000.00 CNY from borrowings during the quarter, down from 228,150,000.00 CNY in the previous year[23] - The company reported a total cash inflow from operating activities of 924,368,669.27 CNY, compared to 653,225,884.88 CNY in the previous year[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,012,831,004.18, a decrease of 5.99% from ¥4,321,165,848.01 at the end of the previous year[7] - The equity attributable to shareholders was ¥1,388,472,222.11, down 3.25% from ¥1,465,748,897.38 at the end of the previous year[7] - Current assets decreased to CNY 897,552,153.70 from CNY 1,089,491,127.54, indicating a decline of approximately 17.6%[13] - Cash and cash equivalents dropped to CNY 348,578,974.86 from CNY 604,490,428.41, representing a decrease of about 42.3%[13] - Accounts receivable increased to CNY 113,296,408.04 from CNY 56,026,546.39, showing an increase of approximately 102.3%[13] - Total non-current assets decreased to CNY 3,115,278,850.48 from CNY 3,231,674,720.47, a decline of about 3.6%[14] - The total liabilities as of the end of Q1 2022 were CNY 2,190,414,739.77, a decrease from CNY 2,394,125,143.98 at the end of the previous year[18] - Total current liabilities decreased to CNY 747,700,330.89 from CNY 835,144,364.65, a reduction of approximately 10.5%[14] - Long-term borrowings decreased to CNY 1,031,887,465.25 from CNY 1,137,904,051.79, a decline of about 9.3%[14] Non-Recurring Items and Adjustments - The company reported a non-recurring gain of ¥3,687,477.09, primarily from asset disposals and government subsidies[5] - The decline in revenue was mainly due to the divestment of the real estate segment, resulting in no real estate income for the current period[7] - The company implemented a retrospective adjustment in accounting policies affecting inventory and fixed assets, leading to a decrease in retained earnings[3] - Deferred income as of the end of Q1 2022 was CNY 98,744,484.52, an increase from CNY 92,629,218.75 in the previous year[18] Shareholder Information - The company reported a total of 229,231,817 shares held by Shenzhen Aoyuan Kexing Investment Co., Ltd., representing 29.34% of total shares[10] - The company has a total of 18,200,600 shares in its repurchase special securities account, accounting for 2.33% of total shares[10] Miscellaneous - The company did not conduct an audit for the first quarter report[24]

Business Transformation - The company reported a significant change in its main business, shifting from real estate and chemical fiber new materials to focusing on chemical fiber new materials and medical beauty services[18]. - The company has undergone a major asset sale related to its real estate business, with the relevant companies completing industrial and commercial change registration[4]. - The company has completed significant asset restructuring, divesting 100% of its real estate business and focusing on medical beauty and chemical fiber new materials as its main business[34]. - The company is in the process of changing its industry classification, pending approval from the China Securities Regulatory Commission[5]. - The company has divested its real estate business, focusing on the beauty and health industry, which is expected to enhance its core competitiveness[48]. Financial Performance - The company's operating revenue for 2021 was approximately ¥1.54 billion, a decrease of 22.58% compared to ¥1.99 billion in 2020[20]. - The net profit attributable to shareholders was a loss of approximately ¥253.37 million, representing an 88.03% increase in losses compared to a loss of ¥134.75 million in 2020[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of approximately ¥671.50 million, a 234.01% increase in losses compared to a loss of ¥201.04 million in 2020[20]. - The total assets at the end of 2021 were approximately ¥4.32 billion, a decrease of 54.29% from ¥9.45 billion at the end of 2020[20]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥1.47 billion, a decrease of 14.48% from ¥1.71 billion at the end of 2020[20]. Medical Beauty Sector Growth - The medical beauty industry in China is expected to maintain rapid growth due to increasing consumer demand and purchasing power, with a market size of RMB 143.6 billion in 2019, making it the second-largest market globally[32]. - The compound annual growth rate (CAGR) of the medical beauty market from 2015 to 2019 was 22.5%, and from 2016 to 2020, it was 18.9%, indicating robust growth despite the pandemic[32]. - The medical beauty segment has shown steady revenue growth, with the acquisition of two medical beauty hospitals contributing positively to performance[36]. - The company aims to optimize its asset structure and enhance operational efficiency by focusing on the medical beauty sector, moving away from real estate[36]. - The medical beauty market in China has significant growth potential, with low penetration rates compared to international markets, indicating room for expansion[32]. Strategic Partnerships and Acquisitions - The company established a strategic partnership with Shaoxing Chun Natural Fiber Membrane Co., Ltd. to upgrade traditional production lines and invest in high-end medical beauty cellulose membrane production lines[38]. - The company acquired Guangdong Aurora Health Management Consulting Co., Ltd. to enhance its "light medical beauty" business model, covering a wide range of services from basic skincare to advanced aesthetic treatments[41]. - The company acquired a 55% stake in Zhejiang Liantian Beauty Management Co., Ltd. for ¥696,666,700.00, with the equity transfer completed during the reporting period[86]. - The company completed the acquisition of 100% equity of Guangdong Aurora Health Management Consulting Co., Ltd. in October 2021, which is now a controlling subsidiary and is operating steadily[159]. Research and Development - The company is focusing on the integration of medical beauty technology and product development, collaborating with academic institutions for innovation[52]. - The company has established a dedicated R&D team for cellulose film used in adhesive tape, focusing on production process parameters and quality requirements[73]. - The company aims to enhance the performance of cellulose films to expand their applicability in various industries, including food and pharmaceuticals[74]. - The company increased its R&D personnel from 149 in 2020 to 176 in 2021, representing an 18.12% growth[74]. - R&D investment rose to ¥26,310,327.93 in 2021, a 39.03% increase from ¥18,924,275.97 in 2020, with R&D expenditure accounting for 1.71% of operating revenue[74]. Governance and Management - The company held 6 shareholder meetings during the reporting period, ensuring equal voting rights for all shareholders, especially minority shareholders[114]. - The board of directors consists of 9 members, including 3 independent directors, and held 14 meetings during the reporting period[115]. - The company maintains independent operations in business, personnel, assets, and finance, ensuring no interference from controlling shareholders[114]. - The company has established four specialized committees under the board of directors to provide professional opinions for decision-making[115]. - The company is committed to improving its governance structure in compliance with relevant laws and regulations[114]. Environmental Management - The wastewater treatment facilities operated normally in 2021, with a total operating cost of 23.03 million yuan[173]. - The water purification treatment station has a daily processing capacity of 54,500 tons and achieved a COD removal rate of 96.35%[173]. - The company has installed online monitoring systems for wastewater and flue gas emissions to ensure compliance with environmental standards[174]. - The company has taken corrective measures in response to any administrative penalties related to environmental issues[174]. - The company prioritizes environmental protection and energy conservation, adhering to relevant regulations to control pollutant emissions during production[178]. Financial Management and Reporting - The company reported a financing balance of CNY 1,389,046,318, with bank loans accounting for CNY 1,201,500,000 and non-bank loans for CNY 187,546,318[47]. - The average financing cost for bank loans ranges from 5.8% to 6.5%, while non-bank loans range from 6% to 6.3%[47]. - The company reported a total investment of CNY 201,123,713.39 in fixed assets, with a cumulative actual investment of CNY 1,756,530,605.00 by the end of the reporting period[88]. - The company recognized goodwill of ¥661,092,881.52 due to the acquisition of the medical beauty business, reflecting a significant increase from ¥11,568,395.68 in the previous year[78]. - The company reported no violations regarding external guarantees during the reporting period[196].

Financial Performance - The company's operating revenue for Q3 2021 was ¥275,391,726.78, a decrease of 76.32% compared to the same period last year[2] - Net profit attributable to shareholders was ¥160,827,199.29, an increase of 66.17% year-on-year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥146,105,228.70, a decrease of 394.90% compared to the previous year[7] - Basic earnings per share increased by 66.30% to ¥0.2059, while diluted earnings per share rose by 65.59% to ¥0.2050[7] - Total operating revenue for the period was CNY 1,442,158,179.76, a decrease of 1.5% compared to CNY 1,461,166,261.87 in the previous period[18] - Total operating costs increased to CNY 1,551,348,203.58, up 6.5% from CNY 1,456,939,630.50 in the previous period[18] - Net profit for the period reached CNY 213,349,626.21, compared to a net profit of CNY 7,446,623.57 in the previous period, marking a significant increase[19] - The company reported a basic earnings per share of CNY 0.2700, compared to a loss per share of CNY -0.1230 in the previous period[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,243,561,954.45, a decrease of 44.53% from the end of the previous year[2] - Total assets amounted to CNY 5,243,561,954.45, a decrease from CNY 9,453,174,039.62 in the previous period[16] - Total liabilities were CNY 2,384,424,725.49, down from CNY 6,800,294,526.97 in the previous period[16] - The total assets amounted to 9,453,174,039.62 yuan, a decrease from 9,499,657,512.41 yuan[27] - Total liabilities were 6,800,294,526.97 yuan, down from 6,846,777,999.76 yuan[27] - The company's total equity remained stable at 2,652,879,512.65 yuan[27] Cash Flow - The cash flow from operating activities showed a significant improvement, with a net amount of -¥5,002,473.20, up 98.39% from the previous year[6] - Cash inflow from operating activities totaled CNY 1,740,842,322.14, an increase from CNY 1,094,329,075.90 in the previous period[21] - The net cash flow from operating activities was -5,002,473.20 yuan, an improvement from -310,763,892.94 yuan in the previous period[23] - Total cash inflow from investment activities was 930,125,284.26 yuan, compared to -7,022,733.62 yuan in the previous period[23] - The net cash flow from financing activities was 385,311,218.48 yuan, down from 698,122,600.49 yuan in the previous period[23] - The total cash and cash equivalents at the end of the period increased to 677,097,653.80 yuan from 422,025,693.83 yuan in the previous period[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 90,202[9] - The largest shareholder, Shenzhen Aoyuan Kexing Investment Co., Ltd., holds 29.34% of shares, totaling 229,231,817 shares[9] - The company has committed to not disposing of shares held by major shareholders for 18 months following the completion of the equity change[10] Strategic Actions - The company disposed of real estate sector assets, which significantly impacted revenue and profit figures[6] - The company is expanding into the medical beauty segment, contributing to the recovery of the chemical fiber sector[6] - The company completed the transfer of 100% equity of Beijing Yangjia Health Management Co., Ltd. and 100% equity of Jinghan Real Estate Group Co., Ltd. as part of a major asset restructuring[11] - The company is actively pursuing market expansion through strategic asset sales and restructuring efforts[11] Non-Recurring Items - Non-recurring gains and losses totaled ¥306,932,427.99 for the reporting period, primarily from asset disposals and government subsidies[4] Research and Development - Research and development expenses for the period were CNY 19,352,983.42, up from CNY 12,461,399.28 in the previous period, indicating a focus on innovation[18] - The company reported a significant increase in investment income to CNY 321,814,053.72, compared to CNY 3,059,880.60 in the previous period[18] Other Information - The third quarter report of Aoyuan Meigu Technology Co., Ltd. has not been audited[28] - The new leasing standards were first implemented in 2021, with retrospective adjustments made to prior comparative data[28] - The board of directors released the third quarter report on October 29, 2021[28]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately CNY 1.17 billion, representing a 291.06% increase compared to the same period last year[20]. - The net profit attributable to shareholders was approximately CNY 50.13 million, a significant turnaround from a loss of CNY 192.99 million in the previous year, marking a 125.97% increase[20]. - The basic earnings per share increased to CNY 0.0642 from a loss of CNY 0.2467, reflecting a 126.02% improvement[20]. - The company achieved significant growth in operating revenue, operating profit, and net profit attributable to the parent company compared to the same period last year[29]. - The company reported a total revenue of 664.57 million yuan for the first half of 2021[110]. - The company reported a net profit of CNY 940,595,331.20 for the first half of 2021, a significant recovery from a net loss of CNY 18,954,921.29 in the same period of 2020[166]. - Operating profit for the first half of 2021 was CNY 940,591,666.58, compared to an operating loss of CNY 18,954,921.29 in the previous year[166]. - The total comprehensive income for the first half of 2021 was CNY 935,735,331.20, compared to a total comprehensive loss of CNY -20,754,921.29 in the same period of 2020[167]. Assets and Liabilities - Total assets at the end of the reporting period reached approximately CNY 10.94 billion, a 15.74% increase from the end of the previous year[20]. - The total liabilities increased to CNY 7,885,347,871.95 from CNY 6,800,294,526.97, reflecting a rise of approximately 15.9%[154]. - The company's total assets included ¥5,300,224,325.65 in inventory, which decreased by 9.41% due to the recognition of revenue from completed real estate projects[63]. - The total liabilities to total assets ratio as of June 30, 2021, was approximately 72.0%, compared to 71.9% at the end of 2020, indicating a slight increase in leverage[154]. - The company's cash and cash equivalents rose to CNY 545,558,538.93 from CNY 476,420,623.24, marking an increase of about 14.5%[152]. Cash Flow - The company reported a net cash flow from operating activities of approximately -CNY 198.07 million, which is a 112.99% decline compared to the previous year[20]. - The company experienced a net cash outflow from operating activities of CNY -198,068,505.89, worsening from CNY -92,994,359.18 in the same period last year[171]. - Investment activities resulted in a net cash outflow of CNY -95,198,653.25, compared to CNY -469,682,832.41 in the first half of 2020[171]. - The company raised CNY 829,934,617.09 through financing activities, a decrease from CNY 1,205,501,425.31 in the previous year[171]. Strategic Initiatives - The company has identified risks and countermeasures for future development, which are detailed in the report[5]. - The company plans to leverage policy advantages in Hainan to develop high-end medical beauty services and expand its international technology and product collaborations[30]. - The company is focusing on optimizing its asset structure and accelerating business transformation, with significant asset sales approved by the shareholders' meeting[28]. - The company aims to expand its presence in the medical beauty sector through acquisitions, targeting the largest market share and highest profit scale in the industry[47]. - The company plans to enhance its market competitiveness by focusing on new technologies and improving management capabilities[80]. Product Development and Innovation - The company has launched new products, including collagen freeze-dried powder and medical cold compress patches, indicating ongoing innovation in product development[13]. - The company is focusing on the development of medical beauty home-use products and medical equipment through partnerships and joint research[47]. - The company is actively expanding its product offerings in the medical beauty technology segment, including collagen and laser equipment, to strengthen its market position[53]. - The company has established strategic partnerships with leading upstream enterprises for product development and technology reserves, launching several new medical beauty products[30]. Market Trends - The medical beauty market in China is projected to grow at a compound annual growth rate (CAGR) of 17.3% from 2019 to 2024, with the market size expected to exceed 300 billion yuan in the next five years[33]. - The medical beauty industry is experiencing increased regulation, which is expected to benefit compliant large institutions and enhance industry concentration[34]. - The medical beauty market is expanding due to rising consumer income and changing perceptions, leading to increased competition from various sectors[80]. Environmental and Social Responsibility - The company has invested nearly 100 million yuan in social welfare projects, including building five hope primary schools in impoverished areas[96]. - The company is classified as a key pollutant discharge unit, with specific measures in place for wastewater treatment[93]. - The company has three wastewater treatment facilities to manage its environmental impact effectively[93]. Corporate Governance - The company has implemented an equity incentive plan for 13 key management personnel to enhance motivation and drive strategic transformation[56]. - The company has not engaged in any securities or derivative investments during the reporting period[71][72]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[143].

Financial Performance - The company's revenue for Q1 2021 was ¥606,999,592.94, representing a 386.85% increase compared to ¥124,680,024.26 in the same period last year[8] - Net profit attributable to shareholders was ¥29,904,351.95, a significant turnaround from a loss of ¥84,084,328.54 in the previous year, marking a 135.56% improvement[8] - The net profit after deducting non-recurring gains and losses was ¥27,565,019.31, compared to a loss of ¥85,291,822.10 last year, reflecting a 132.32% increase[8] - The basic earnings per share increased to ¥0.0383 from a loss of ¥0.1075, showing a 135.63% improvement[8] - The weighted average return on equity rose to 1.12%, an increase of 1.16 percentage points from -0.04% in the previous year[8] - The company reported a net cash flow from operating activities of -¥121,247,878.72, which is a 31.05% decline compared to -¥92,519,230.44 in the same period last year[8] - The company reported a gross profit margin of approximately 2.1% for Q1 2021, compared to a negative margin in the previous year[36] - The net profit for Q1 2021 was ¥23,335,388.95, a turnaround from a net loss of ¥91,832,145.77 in Q1 2020[38] Assets and Liabilities - Total assets at the end of the reporting period were ¥9,268,119,057.23, a decrease of 1.96% from ¥9,453,174,039.62 at the end of the previous year[8] - The total assets as of March 31, 2021, were ¥2,482,996,310.02, down from ¥2,623,443,176.13 at the end of 2020, reflecting a decrease of about 5.3%[35] - The company's total liabilities decreased from ¥6,800,294,526.97 to ¥6,593,914,155.63, representing a reduction of about 3.05%[32] - The total liabilities as of March 31, 2021, were ¥1,312,607,699.91, down from ¥1,438,107,898.24, indicating a reduction of about 8.7%[35] - The company's total current liabilities decreased from ¥4,132,836,444.10 to ¥3,692,698,827.77, a decline of approximately 10.66%[32] Cash Flow - The company reported cash inflows from financing activities of CNY 228,150,000.00, compared to CNY 408,747,587.78 in the previous period, indicating a decrease of approximately 44%[44] - The cash flow from operating activities showed a net outflow of CNY 121,247,878.72, worsening from a net outflow of CNY 92,519,230.44 in the previous period[42] - The cash inflow from operating activities totaled CNY 653,225,884.88, while cash outflows amounted to CNY 774,473,763.60, resulting in a negative cash flow from operations[42] - The cash outflow from investing activities was ¥45,800,000.00, a substantial increase from ¥2,838,000.00, resulting in a net cash flow from investing activities of -¥34,600,000.00[45] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 43,306[12] - The total equity attributable to shareholders of the parent company increased from ¥1,713,888,194.85 to ¥1,741,782,546.80, reflecting a growth of approximately 1.63%[32] Research and Development - The company’s research and development expenses surged by 226.29% to CNY 6,444,665.02, attributed to the resumption of production in the chemical fiber sector[16] - Research and development expenses for Q1 2021 were ¥6,444,665.02, up from ¥1,975,130.32 in Q1 2020, showing an increase of about 226%[36] Government Support - The company received government subsidies amounting to ¥2,927,514.78, primarily related to industrial support funds[9] Investment Activities - The company completed the acquisition of a 55% stake in Zhejiang Liantianmei Enterprise Management Co., Ltd. for CNY 69,666.67 million, with the total assessed value of the stake being CNY 135,100 million[19] - The company’s investment income turned negative at CNY -18,185.77, a decrease of 100.96% compared to the previous period due to reduced investment activities[16] - The company reported an investment cash outflow of CNY 45,413,228.53, compared to CNY 391,038,203.18 in the previous period, indicating a significant reduction in investment activities[44] Miscellaneous - The company has not undergone an audit for the first quarter report[53] - The report indicates that the company has not applied the new leasing standards for prior comparative data[53]

Financial Performance - The company's operating revenue for 2020 was ¥1,987,344,106.08, a decrease of 36.92% compared to ¥3,150,404,424.30 in 2019[16] - The net profit attributable to shareholders was -¥134,749,413.30, representing a decline of 1,214.58% from a profit of ¥12,089,692.30 in the previous year[16] - The net cash flow from operating activities was -¥382,582,581.94, a decrease of 154.28% compared to ¥704,840,860.57 in 2019[16] - The total assets at the end of 2020 were ¥9,453,174,039.62, down 7.40% from ¥10,208,205,700.52 at the end of 2019[17] - The net assets attributable to shareholders decreased by 6.54% to ¥1,713,888,194.85 from ¥1,833,745,726.74 in 2019[17] - The basic earnings per share for 2020 was -¥0.17, a decline of 950.00% from ¥0.02 in 2019[16] - The diluted earnings per share also stood at -¥0.17, reflecting the same percentage decline as the basic earnings per share[16] - The weighted average return on net assets was -7.59%, a decrease of 8.23 percentage points from 0.64% in 2019[17] - The company achieved a revenue of 1,987.34 million RMB in 2020, a decrease of 36.92% compared to the previous year[38] - The net profit for 2020 was 38.17 million RMB, down 69.20% year-on-year, with a net profit attributable to shareholders of -134.75 million RMB, a decline of 1214.58%[38] Shareholder and Ownership Changes - The company underwent a change in its controlling shareholder from Jinghan Holdings Group to Shenzhen Aoyuan Kexing Investment Co., Ltd. on June 24, 2020[15] - The company plans not to distribute cash dividends or issue bonus shares for the year[5] - The company has committed to maintaining the independence of 京汉股份 in terms of personnel, assets, finance, organization, and business operations for the long term[96] - The commitment includes ensuring that 京汉股份 has an independent financial department and accounting system, and that it operates independently in banking matters[97] - The company has pledged to resolve existing competition issues with 京汉股份 by implementing actionable solutions within 24 months and completing them within 3 years[98] - The company has made a commitment to avoid any related party transactions that could harm the interests of 京汉股份 and its minority shareholders[98] - The company has committed to not directly or indirectly dispose of its shares in 京汉股份 for 18 months following the completion of the equity change[95] Strategic Initiatives and Future Plans - The company is advancing its 100,000-ton green bio-based cellulose fiber (Lyocell) project, with the first phase of 40,000 tons expected to commence production in 2021[27] - The company aims to expand horizontally in the beautiful health industry while integrating the upstream and downstream supply chains[31] - The management team has undergone adjustments to enhance strategic transformation, focusing on attracting key talent to support business development[32] - The company is focusing on the medical beauty industry, with plans to expand into medical equipment consumables and home-use products through mergers and acquisitions[33] - The company plans to enhance its medical beauty materials supply chain by upgrading its green fiber industry and aims to establish a new production line with a capacity of 60,000 tons[46] - The company is committed to enhancing operational efficiency through management upgrades and talent acquisition in the medical beauty sector[46] - The company plans to focus on strategic cooperation, industrial mergers, and technological partnerships in 2021[44] Market and Industry Insights - The medical beauty market in China is projected to exceed RMB 310 billion by 2023, with a compound annual growth rate of over 15% in the next three years[83] - The penetration rate of medical beauty projects in China was only 3.6% in 2019, indicating significant growth potential compared to countries like Japan, the US, and South Korea[83] - The company reported a revenue of RMB 1.769 billion in the medical beauty market from 2015 to 2019, with a compound annual growth rate of 28.7%[83] - The company anticipates that the concentration of the medical beauty industry will increase, providing more opportunities for leading brands[84] Operational Challenges - The company’s cash flow from operating activities showed a net outflow of ¥217,769,533.76 in the third quarter, indicating challenges in cash generation[21] - The company reported a significant decrease in sales volume for viscose series products, which fell by 29.63% to 15,939.19 tons in 2020[52] - The inventory of viscose series products increased by 45.01% due to reduced sales volume, while real estate production volume decreased by 86.19% due to lower investment[52] Environmental and Social Responsibility - The company has actively participated in social responsibility initiatives, contributing nearly CNY 100 million to various charitable causes[154] - The company has three wastewater treatment plants with a daily processing capacity of 53,000 tons, achieving a COD removal rate of 92.65%[158] - The company reported a total wastewater treatment facility operating cost of 16.67 million RMB in 2020[158] - The company has installed online monitoring systems for wastewater and flue gas emissions, ensuring compliance with environmental standards[159] - In 2020, the company completed the environmental impact assessment for a new 1,500 tons/day green fiber wastewater treatment system[158] - The company has no environmental penalties or regulatory notices in 2020[159] Related Party Transactions - The company reported a total of 2,446.5 million yuan in related party transactions, with a significant portion (99.99%) related to property management services priced at 2,336.2 million yuan[130] - The company recognized a transaction gain of 160.41 million yuan from the sale of equity, with the transfer price set at 18,200 million yuan against a book value of 18,114.91 million yuan[132] - The company has receivables from related parties totaling 11,844,807.88 yuan, including 8,424,807.88 yuan from Jinghan Holdings Group[136] - The company has payables to related parties amounting to 389,471,254.69 yuan, with significant liabilities to Shenzhen Aoyuan Kexing Investment Co., Ltd. totaling 372,570,000.00 yuan[138] Management and Governance - The company has engaged in multiple investor communications to discuss its development strategy and operational status[87] - The company has implemented an employee stock ownership plan, granting a total of 18.617 million shares under the 2017 stock incentive plan[126] - The company has not faced any penalties or rectification issues during the reporting period[125] - The company has not experienced any major litigation or arbitration matters that would impact its financial position[123] - The company’s stock incentive plan was approved by the board and the shareholders, with legal opinions provided by a law firm[126] - The company has actively worked to attract and retain talent through its stock incentive mechanisms[126] Changes in Executive Leadership - The company has undergone significant management changes, with multiple board members and executives elected or appointed on July 15, 2020, including the election of Ma Jun as chairman[196] - The company is focusing on strategic adjustments and has seen a turnover in key positions, including the resignation of the previous president and chairman, Tian Han, on July 15, 2020[198] - The company has appointed new executives, including Hu Ran as president and several others in executive roles, to drive future growth[199]

Financial Performance - Net profit attributable to shareholders increased by 310.41% to CNY 96,785,050.67 for the current period[7]. - Operating revenue for the current period was CNY 1,162,803,912.27, representing a 237.15% increase year-on-year[7]. - Basic earnings per share rose to CNY 0.1238, an increase of 310.50% compared to the same period last year[7]. - The net profit for the period was CNY 215,168,702.40, compared to a net loss of CNY 65,493,686.11 in the previous period, marking a significant turnaround[42]. - The profit attributable to the parent company's shareholders was CNY 96,785,050.67, recovering from a loss of CNY 45,998,596.87 in the same period last year[42]. - The total comprehensive income for the period was CNY 215,438,702.40, compared to a comprehensive loss of CNY 68,778,686.11 in the previous year[43]. - The net profit for the third quarter was CNY 7,446,623.57, compared to CNY 6,662,584.09 in the previous year, indicating a year-over-year increase[50]. - The total profit for the quarter reached CNY 121,854,978.94, significantly higher than CNY 19,910,293.06 from the same period last year[50]. Assets and Liabilities - Total assets decreased by 6.79% to CNY 9,515,076,034.93 compared to the end of the previous year[7]. - Total liabilities decreased to ¥6,904,585,383.35 from ¥7,549,402,023.75, indicating a reduction of about 8.6%[35]. - Current assets increased to ¥473,831,294.16 from ¥350,568,237.74, representing a growth of approximately 35%[35]. - Long-term borrowings surged by 217% to approximately 2.16 billion due to adjustments in financing structure[16]. - The company's total equity decreased to ¥2,610,490,651.58 from ¥2,658,803,676.77, a decline of about 1.8%[35]. - Total liabilities reached CNY 7,549,402,023.75, with current liabilities at CNY 6,198,106,312.26 and non-current liabilities at CNY 1,351,295,711.49[67]. Cash Flow - The net cash flow from operating activities was negative at CNY -217,769,533.76, a decline of 234.92% compared to the same period last year[7]. - The net cash flow from operating activities turned negative at approximately -310.76 million, primarily due to reduced sales collections[17]. - Total cash inflow from operating activities was 1,094,329,075.90 CNY, while cash outflow was 1,405,092,968.84 CNY, resulting in a net cash flow deficit[58]. - The net cash flow from financing activities was 698,122,600.49 CNY, with total cash inflow of 1,874,858,157.15 CNY and outflow of 1,176,735,556.66 CNY[59]. Shareholder Information - The total number of shareholders at the end of the reporting period was 44,885[11]. - The largest shareholder, Shenzhen Aoyuan Kexing Investment Co., Ltd., holds 29.34% of the shares[11]. - The company's total share capital decreased from 782,307,677 shares to 781,180,319 shares after the repurchase and cancellation of 1,127,358 restricted shares[20]. - The controlling shareholder's stake increased from 29.302% to 29.34%, and the voting shares proportion rose from 29.99996% to 30.04%[20]. Expenses - Sales expenses fell by 60% to approximately 41.76 million, largely impacted by the pandemic[17]. - Management expenses decreased by 37% to approximately 146.17 million, attributed to delayed operations and reduced personnel costs[17]. - R&D expenses declined by 45% to approximately 12.46 million, also due to pandemic-related impacts[17]. - The company incurred management expenses of CNY 146,167,148.58, down from CNY 231,556,703.51, reflecting a decrease of approximately 36.8%[48]. - Research and development expenses were CNY 12,461,399.28, a decrease from CNY 22,578,912.87, indicating a reduction of about 44.7%[48]. Other Financial Metrics - Non-recurring gains and losses totaled CNY 47,641,112.35, primarily from government subsidies and asset disposals[8]. - The company reported a tax expense of CNY 113,532,493.01, which was a significant increase from a tax benefit of CNY 16,723,380.40 in the previous period[42]. - Other comprehensive income after tax amounted to CNY 270,000.00, recovering from a loss of CNY 3,285,000.00 in the previous period[42]. - The company reported a credit impairment loss of -CNY 2,272,207.31, a significant improvement from CNY 23,791,386.26 in the previous year[50].