证券代码：002042 证券简称：华孚时尚 华孚时尚股份有限公司投资者关系活动记录表 编号：2022-03 | --- | --- | --- | |-------------------------|------------------------------------|-------------------------------------------------------------------------------------------------------------------| | | □特定对象调研 □分析师会议 | | | 投资者关系活 | □媒体采访 | 业绩说明会 | | 动类别 | □新闻发布会 □路演活动 | | | | □现场参观 | | | | □其他 | | | 参与单位名称 及人员姓名 | 参与公司 2021 | 年度业绩网上说明会的投资者 | | 时间 2022 | 年 5 月 12 日 | | | 地点 全景网（ | https://ir.p5w.net | ） | | 上市公司接待 人员姓名 | | 公司董事长孙伟挺先生、副董事长兼总裁陈玲芬女士、董事兼财 ...

Revenue and Profitability - The company's revenue for Q3 2022 was ¥4,765,589,199.46, representing a 14.55% increase year-over-year[7] - Net profit attributable to shareholders decreased by 94.39% to ¥8,053,944.70, while net profit excluding non-recurring items fell by 95.27% to ¥5,714,367.33[7] - The company's basic earnings per share dropped by 92.89% to ¥0.01, with diluted earnings per share also at ¥0.01, a decline of 91.61%[7] - The company reported a net profit margin improvement, with net profit for the current period showing resilience despite increased costs[26] - The net profit for the current period is approximately ¥302.72 million, a decrease of 34.7% compared to ¥464.19 million in the previous period[30] - The total profit for the current period is ¥333.75 million, down from ¥496.23 million, reflecting a decline of 32.7%[30] - The operating profit for the current period is ¥310.39 million, compared to ¥481.01 million in the previous period, indicating a decrease of 35.5%[30] - The total comprehensive income attributable to the parent company's owners is ¥354.64 million, compared to ¥450.61 million in the previous period, representing a decline of 21.3%[31] - The basic earnings per share for the current period is ¥0.18, down from ¥0.25 in the previous period, reflecting a decrease of 28%[31] Cash Flow and Investments - The net cash flow from operating activities was ¥1,361,773,104.01, down 50.12% compared to the previous year[11] - The cash flow from operating activities for the current period is ¥1.36 billion, a significant drop of 50% from ¥2.73 billion in the previous period[32] - The cash flow from investment activities was negative at ¥429,180,609.93, an increase of 37.96% in outflows due to increased financial investments[11] - The cash flow from investing activities shows a net outflow of approximately ¥429.18 million, an improvement from a net outflow of ¥691.75 million in the previous period[34] - The cash flow from financing activities resulted in a net outflow of ¥1.45 billion, compared to a net outflow of ¥1.11 billion in the previous period[34] Assets and Liabilities - Total assets at the end of the reporting period were ¥18,071,988,473.49, a decrease of 10.26% from the end of the previous year[7] - The company's total assets decreased to ¥18,071,988,473.49 from ¥20,138,185,868.88, a decline of about 10.3%[25] - Non-current liabilities totaled ¥847,758,281.45, down from ¥1,028,778,520.32, indicating a reduction of approximately 17.6%[25] - The total liabilities of the company decreased to ¥10,543,825,264.36 from ¥12,609,816,738.06, reflecting a decrease of about 16.4%[25] - The company's equity attributable to shareholders was ¥7,001,919,055.95, slightly down from ¥7,009,197,204.12, a decrease of approximately 0.1%[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 27,043, with the largest shareholder, Huafu Holdings Co., Ltd., holding 30.62% of the shares[14] - The top ten shareholders include Anhui Feiya Textile Co., Ltd. with 7.59% and Shenzhen Huaren Investment Co., Ltd. with 3.70%[14] - The company has repurchased a total of 13,024,600 shares, accounting for 0.77% of the total share capital, with a total transaction amount of approximately RMB 46.97 million[18] - The company plans to use its repurchased shares for future employee stock ownership plans or equity incentives, with a repurchase budget between RMB 50 million and RMB 100 million[17] - The maximum repurchase price is set at RMB 6.50 per share, with a repurchase period of up to twelve months from the board's approval date[17] Inventory and Financial Assets - Inventory decreased by 33.79% to ¥4,343,617,901.36, attributed to inventory clearance efforts[11] - The company reported a significant increase in trading financial assets, rising by 54.59% to ¥953,424,020.08[11] - The company's inventory stands at RMB 4,343,617,901.36, significantly reduced from RMB 6,560,654,772.15[19] Research and Development - Research and development expenses for the current period were ¥108,247,523.96, up from ¥87,826,169.42, representing a growth of approximately 23.2%[26] Other Information - The company has not disclosed any significant new product developments or market expansion strategies in the current report[21] - There are no reported mergers or acquisitions in the latest financial disclosures[21] - The company reported a foreign exchange gain of ¥49.60 million, contrasting with a loss of ¥13.48 million in the previous period[31]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥8,535,970,102.43, a decrease of 0.22% compared to the same period last year[26] - The net profit attributable to shareholders was ¥292,496,599.75, down 3.03% year-on-year[26] - The net profit after deducting non-recurring gains and losses increased by 26.79% to ¥276,700,678.00 compared to the previous year[26] - The basic earnings per share decreased by 15.00% to ¥0.17[26] - The total assets at the end of the reporting period were ¥19,620,544,197.66, a decrease of 2.57% from the end of the previous year[26] - The net assets attributable to shareholders increased by 3.79% to ¥7,275,186,100.93 compared to the end of the previous year[26] - The net cash flow from operating activities was ¥765,437,050.51, a significant decrease of 57.12% compared to the same period last year[26] - The weighted average return on equity was 4.09%, down 1.14% from the previous year[26] - The company reported non-recurring gains and losses totaling ¥15,795,921.75 for the reporting period[29] Revenue and Sales - The company achieved a revenue of CNY 8.54 billion, a slight decrease of 0.22% year-on-year[43] - The net profit attributable to shareholders was CNY 292 million, down 3.04% compared to the previous year[37] - The company’s yarn sales decreased by 10.60% to CNY 3.06 billion, while the net chain business revenue increased by 5.54% to CNY 5.23 billion[43] - Domestic sales reached ¥7,384,837,225.95, with an increase of 2.17% year-on-year, while gross margin improved by 1.64%[46] - The company reported a decrease in export sales of ¥1,092,911,238.67, down 14.94% year-on-year[46] Production and Capacity - Yarn production capacity is 2.06 million spindles, with an annual output of 290,000 tons of new yarn[36] - The company has a total production capacity of 206,000 spindles, with a capacity utilization rate of 85.00%, down from 95.00% in the previous year[49] - Inventory turnover days for yarn are 108 days, with an inventory quantity of 78,158 tons, reflecting a 143.05% increase in inventory balance year-on-year[55] Research and Development - The company invested CNY 59.4 million in R&D, representing a 3.41% increase from the previous year[43] - The company has 30 in-house fashion designers and 5 contracted designers, indicating a strong design capability[60] - The company has established a well-operating designer platform, enhancing its design and marketing capabilities[60] Market Strategy - The company plans to deepen domestic market penetration and implement digital and green low-carbon strategies[38] - The company aims to deepen its domestic market presence and expand into niche markets to mitigate risks from geopolitical tensions[95] - The company is implementing a green low-carbon strategy, focusing on raw material substitution and energy efficiency improvements[96] Shareholder and Dividend Information - The company plans to distribute a cash dividend of ¥1.80 per 10 shares (including tax) to all shareholders[7] - The total cash dividend amount, including other methods, is 350,746,142.90 CNY, which is derived from a distributable profit of 413,041,132.86 CNY[103] - The total number of shares eligible for profit distribution is 1,687,656,755 shares, with 13,024,600 shares repurchased and excluded from this distribution[103] - The company repurchased 13,024,600 shares, accounting for 0.77% of the total share capital, with a total transaction amount of 46,967,927.00 CNY[106] Financial Management and Investments - The company has not utilized any idle raised funds for temporary working capital[81] - The actual investment in the new project during the reporting period was CNY 34,676.6 million, achieving a progress rate of 44.00%[85] - The company anticipates risks of not meeting expected investment returns due to external market changes and the impact of the COVID-19 pandemic in Vietnam[80] Related Party Transactions - The company reported a total of 2,116.4 million yuan in related party transactions for cotton procurement, accounting for 0.38% of similar transaction amounts[140] - The approved transaction amount for related party transactions was 300,000 million yuan, and the actual transaction amount did not exceed this limit[140] - There were no significant litigation or arbitration matters during the reporting period[138] Corporate Governance - The company did not experience any changes in its controlling shareholder during the reporting period, maintaining stability in ownership[189] - There were no changes in the shareholding of directors, supervisors, and senior management during the reporting period, reflecting consistent leadership[188] - The company has not reported any changes in its actual controller during the reporting period, ensuring continuity in governance[191]

Financial Performance - The company's operating revenue for 2021 was ¥16,708,437,212.10, representing a 17.40% increase compared to ¥14,231,727,949.61 in 2020[27]. - The net profit attributable to shareholders for 2021 was ¥569,742,293.45, a significant turnaround from a loss of ¥444,230,430.81 in 2020, marking a 228.25% increase[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥352,080,653.04, compared to a loss of ¥754,531,371.57 in the previous year, reflecting a 146.66% improvement[27]. - The basic earnings per share for 2021 was ¥0.38, a recovery from a loss of ¥0.31 per share in 2020, indicating a 222.58% increase[27]. - The total assets at the end of 2021 amounted to ¥20,138,185,868.88, which is a 14.36% increase from ¥17,610,075,576.16 at the end of 2020[27]. - The net assets attributable to shareholders increased by 24.67% to ¥7,009,197,204.12 from ¥5,622,219,847.15 in 2020[30]. - The net cash flow from operating activities for 2021 was ¥719,880,146.08, a decrease of 13.09% from ¥828,351,709.37 in 2020[27]. - The weighted average return on equity for 2021 was 9.24%, a significant improvement from -7.31% in 2020, reflecting a 16.55% increase[27]. Revenue and Sales Growth - The company achieved a total revenue of 16.71 billion yuan in 2021, representing a year-on-year growth of 17.4%[46]. - The main business in the cotton spinning industry accounted for 99.00% of total revenue, with revenue of approximately ¥16.60 billion, up 17.23% from ¥14.16 billion in 2020[52]. - The overseas sales of the main business reached approximately ¥2.18 billion, accounting for 13.07% of total revenue, with a year-on-year increase of 68.54%[55]. - The company achieved a significant increase in online sales, which rose by 2,985.82% to approximately ¥93.96 million in 2021[55]. - The sock products segment saw a revenue increase of 79.88%, reaching approximately ¥269.06 million in 2021[52]. Market Strategy and Expansion - The company plans to actively build a domestic market supply chain based on internal circulation, targeting the growing Chinese apparel market[46]. - The company aims to expand its market share in domestic and non-US international markets while enhancing its core yarn business[46]. - The company recognizes the importance of the domestic market and plans to deepen its engagement with local brands and e-commerce platforms[147]. - The company is focused on expanding its market presence and enhancing its product offerings through strategic initiatives[174]. Innovation and Development - The company is focusing on digital transformation and upgrading its supply chain through value-added services[46]. - The company has established a digital platform for industrial integration, enhancing its competitive advantage in the smart factory construction[52]. - The company is focused on innovation in product development, emphasizing functional technology, fast response, and sustainable practices[148]. - The company developed new functional products, including antibacterial and moisture-wicking textiles, which are expected to enhance product sales and profit margins[88]. Financial Management and Governance - The company has implemented a transparent performance evaluation and incentive mechanism for its directors and managers[157]. - The company has maintained compliance with the corporate governance standards set by the China Securities Regulatory Commission[157]. - The total remuneration for the board of directors, supervisors, and senior management during the reporting period amounted to CNY 1,106.66 million[180]. - The company has been actively expanding its governance structure with qualified independent directors to enhance oversight[182]. Risks and Challenges - The management has outlined potential risks in the report, which investors are encouraged to review in the sections on management discussion and future outlook[6]. - The company anticipates potential risks from raw material price fluctuations, particularly cotton, which accounts for over 60% of total costs[147]. - The company expects to face uncertainties in order demand due to the ongoing impacts of the COVID-19 pandemic and geopolitical tensions[147]. Cash Flow and Investments - The net cash flow from investing activities worsened significantly, with a net outflow of ¥814,644,867.30, an increase of 125.29% from the previous year's outflow of ¥361,595,133.22, primarily due to increased investment projects[96]. - The net cash flow from financing activities improved, showing a net inflow of ¥438,032,209.54, compared to a net outflow of ¥304,123,802.65 in the previous year, attributed to increased fundraising[96]. - Investment income contributed ¥216,569,209.30, accounting for 31.25% of total profit, primarily from cotton futures, dividends, and financial products[97]. Subsidiaries and Market Contributions - Shenzhen Huafu Import and Export Co., Ltd. contributed a net profit of approximately 258.70 million CNY, accounting for over 10% of the company's total net profit[123]. - Zhejiang Huafu Color Spinning Co., Ltd. reported a net profit of approximately 87.76 million CNY, with total assets of approximately 3.24 billion CNY[123]. - The company has established new subsidiaries, including Zhejiang A-Da Internet Technology Co., Ltd. and Shanghai Qingcheng Fashion Life Products Co., Ltd., contributing to its market expansion[65].

Financial Performance - The company's operating revenue for Q1 2022 was ¥4,147,121,738.76, representing a 7.87% increase compared to ¥3,844,540,972.24 in the same period last year[4]. - Net profit attributable to shareholders for Q1 2022 was ¥150,058,072.74, up 14.36% from ¥131,213,682.07 in the previous year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥132,151,829.13, a significant increase of 126.44% from ¥58,360,163.57 in the same period last year[4]. - The company reported a net profit margin improvement, although specific figures were not disclosed in the provided content[25]. - The net profit for the current period is CNY 157,615,569.32, an increase from CNY 140,285,276.81 in the previous period, representing an increase of approximately 12.4%[28]. - The total profit for the current period is CNY 185,804,460.64, an increase from CNY 152,048,546.49, representing a growth of approximately 22.3%[28]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 24.60% to ¥687,085,984.34, down from ¥911,244,090.68 in the previous year[4]. - Cash and cash equivalents at the end of the period were CNY 3,521,848,730.05, compared to CNY 3,370,692,417.48 at the beginning of the year, indicating a growth of 4.5%[20]. - The cash flow from operating activities generated a net amount of CNY 687,085,984.34, down from CNY 911,244,090.68, a decrease of approximately 24.7%[40]. - Net cash flow from investing activities was $267.18 million, an increase from $44.64 million[43]. - Net cash flow from financing activities was -$1.26 billion, improving from -$1.71 billion[43]. - Cash and cash equivalents at the end of the period totaled $2.10 billion, up from $1.40 billion[43]. - The net increase in cash and cash equivalents was -$304.74 million, an improvement from -$781.50 million[43]. Assets and Liabilities - Total assets at the end of the reporting period were ¥20,678,107,302.49, reflecting a 2.68% increase from ¥20,138,185,868.88 at the end of the previous year[4]. - Total liabilities increased to CNY 13,031,607,183.97 from CNY 12,609,816,738.06, indicating a rise of 3.3%[23]. - Accounts receivable increased to CNY 1,303,539,892.68 from CNY 921,916,655.19, representing a significant rise of 41.5%[20]. - Inventory levels rose to CNY 6,965,791,529.79, up from CNY 6,560,654,772.15, marking an increase of 6.2%[20]. - Long-term receivables increased significantly to CNY 10,881,189.84 from CNY 3,877,625.34, showing a growth of 180.5%[20]. Shareholder Information - Shareholders' equity attributable to the parent company increased by 1.58% to ¥7,119,770,695.24 from ¥7,009,197,204.12 at the end of the previous year[4]. - The total number of common shareholders at the end of the reporting period was 22,207[9]. - The top three shareholders held a combined 41.91% of the company's shares, with Huafu Holdings Co., Ltd. holding 30.62%[13]. Expenses - Total operating costs amounted to CNY 3,975,028,018.27, up from CNY 3,772,854,886.63, reflecting a year-over-year increase of 5.4%[25]. - Research and development expenses increased to CNY 36,688,287.87 from CNY 28,762,967.77, reflecting a growth of about 27.6%[28]. - Financial expenses rose significantly to CNY 76,899,819.64 from CNY 39,371,134.29, marking an increase of approximately 95.5%[28]. - The tax expenses for the current period are CNY 28,188,891.32, compared to CNY 11,763,269.68 in the previous period, indicating a significant increase of about 139.8%[28]. Earnings Per Share - The company reported a basic earnings per share of ¥0.09, unchanged from the same period last year[4]. - The basic and diluted earnings per share remain stable at CNY 0.09 for both periods[35]. Other Information - The first quarter report was not audited[44]. - The board of directors of Huafu Fashion Co., Ltd. issued the report on April 28, 2022[45].

Financial Performance - Revenue for Q3 2021 reached ¥4,160,286,129.89, an increase of 34.07% compared to the same period last year[6] - Net profit attributable to shareholders was ¥143,686,841.98, a significant increase of 364.86% year-on-year[6] - The net profit after deducting non-recurring gains and losses was ¥120,910,722.64, up 213.71% from the previous year[6] - Basic earnings per share for Q3 2021 was ¥0.08, representing a 300.27% increase compared to the same period last year[6] - Operating income for the year-to-date was ¥12,715,146,203.86, reflecting a 46.84% increase driven by price increases and higher sales orders[10] - Total operating revenue for the current period reached ¥12,715,146,203.86, a 47.5% increase from ¥8,658,963,773.57 in the previous period[27] - Operating profit for the current period was ¥481,013,583.81, compared to a loss of ¥204,082,955.52 in the previous period[30] - Net profit attributable to the parent company was ¥445,329,778.41, recovering from a loss of ¥243,701,680.04 in the previous period[30] - The total comprehensive income attributable to the parent company was ¥431,742,847.43, recovering from a loss of ¥312,913,398.40 in the previous period[32] Cash Flow - Cash flow from operating activities for the year-to-date was ¥2,730,339,092.86, reflecting a 102.69% increase[6] - The net cash flow from operating activities for the current period is ¥2,730,339,092.86, an increase of 102.8% compared to ¥1,347,055,801.29 in the previous period[37] - Total cash inflow from operating activities reached ¥13,820,237,007.78, up from ¥8,752,430,913.89, reflecting a growth of 58.8%[36] - Cash outflow from operating activities totaled ¥11,089,897,914.92, compared to ¥7,405,375,112.60 in the previous period, indicating a rise of 49.5%[37] - The cash flow from investment activities resulted in a net outflow of ¥691,747,000.23, worsening from a net outflow of ¥282,381,085.38 in the previous period[37] - Cash inflow from financing activities was ¥9,362,064,192.93, slightly up from ¥9,240,214,527.69, showing an increase of 1.3%[37] - The net cash flow from financing activities decreased to -¥1,109,643,378.29 from -¥1,412,632,012.54, improving by 21.4%[37] - The ending balance of cash and cash equivalents increased to ¥2,943,109,678.33 from ¥1,537,351,289.14, marking a significant rise of 91.5%[37] Assets and Liabilities - Total assets at the end of Q3 2021 were ¥18,138,153,674.70, a 3.00% increase from the end of the previous year[6] - Total current assets reached ¥11,251,669,871.95 as of September 30, 2021, up from ¥10,535,196,550.37 at the end of December 2020, indicating an increase of about 6.8%[20] - Total liabilities decreased to ¥10,597,703,228.49 from ¥11,620,351,180.76, reflecting a reduction of approximately 8.8%[27] - Total assets increased to ¥18,138,153,674.70 from ¥17,610,075,576.16, reflecting a growth of approximately 3%[27] - Short-term borrowings decreased to ¥6,675,259,698.05 as of September 30, 2021, down from ¥8,413,551,570.15 at the end of December 2020, a reduction of about 20.7%[20] - The total liabilities were reported at $11,620,351,180.76, indicating a slight decrease[46] Shareholder Information - The total number of common shareholders at the end of the reporting period is 21,829, with the largest shareholder, Huafu Holdings Co., Ltd., holding 34.27% of shares, equating to 520,705,950 shares[14] - The top ten shareholders include significant institutional investors, with the second-largest shareholder, Anhui Feiya Textile Co., Ltd., holding 8.49% of shares, equating to 129,058,312 shares[14] - The company reported a total of 92,973,035 shares held in the repurchase account[17] Research and Development - Research and development expenses rose to ¥87,826,169.42, compared to ¥70,083,901.24 in the previous period, indicating a 25.3% increase[30] Inventory and Receivables - The company reported a significant increase in accounts receivable, which rose by 85.01% to ¥1,342,919,235.92, attributed to increased sales[10] - The accounts receivable increased to ¥1,342,919,235.92 as of September 30, 2021, compared to ¥725,867,698.49 at the end of December 2020, showing a significant increase of approximately 84.8%[18] - Inventory decreased to ¥3,639,815,599.07 as of September 30, 2021, from ¥5,139,875,142.43 at the end of December 2020, indicating a decline of about 29.1%[20] Strategic Developments - The company has not reported any new strategies or product developments in the current quarter[23]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥8,554,860,073.97, representing a 53.98% increase compared to ¥5,555,858,450.91 in the same period last year[27]. - The net profit attributable to shareholders was ¥301,642,936.42, a significant increase of 259.22% from a loss of ¥189,450,557.37 in the previous year[27]. - The net cash flow from operating activities reached ¥1,785,032,033.59, up 230.17% from ¥540,633,811.77 in the same period last year[27]. - The basic earnings per share improved to ¥0.20, compared to a loss of ¥0.12 per share in the previous year, marking a 266.67% increase[27]. - The total operating revenue for the reporting period reached ¥8,554,860,073.97, representing a year-on-year increase of 53.98% due to rising cotton prices and increased sales orders[45]. - The company achieved operating revenue of 8.56 billion yuan, a year-on-year increase of 53.98%, and a net profit of 302 million yuan, turning a profit compared to the previous period[38]. Assets and Liabilities - The total assets at the end of the reporting period were ¥16,419,384,436.17, a decrease of 6.76% from ¥17,610,075,576.16 at the end of the previous year[27]. - The company's cash and cash equivalents at the end of the reporting period were ¥2,120,269,627.80, which is 12.91% of total assets[64]. - The company's accounts receivable increased by 2.53% to ¥1,095,505,033.30, accounting for 6.67% of total assets, due to an increase in sales orders[64]. - Inventory decreased by 3.86% from the previous year, with a current value of ¥4,354,535,681.92, which constitutes 26.52% of total assets[64]. - Short-term borrowings decreased by 8.42% to ¥6,739,246,328.32, now representing 41.04% of total liabilities[64]. - Total liabilities decreased to CNY 10,206,202,177.32 from CNY 11,620,351,180.76, representing a decline of about 12.14%[193]. Revenue Breakdown - The yarn segment contributed 3.43 billion yuan to revenue, accounting for 40.04% of total revenue, while the net chain business generated 4.96 billion yuan, representing 57.97% of total revenue, with a year-on-year growth of 60.60%[42]. - Domestic sales accounted for ¥7,270,000,821.90, which is 84.98% of total revenue, with a year-on-year growth of 65.39% attributed to increased domestic business[45]. - Yarn sales generated ¥3,425,495,498.34, accounting for 40.04% of total revenue, with a year-on-year increase of 44.82% driven by higher cotton prices and increased sales orders[49]. - Export sales totaled ¥1,284,859,252.07, representing 15.02% of total revenue, with a year-on-year increase of 10.75%[49]. Investments and R&D - Research and development investment increased by 21.72% to 57.44 million yuan, reflecting the company's commitment to innovation and product development[42]. - The company plans to invest in a new spinning factory in Vietnam with a capacity of 100,000 spindles in 2021[53]. - The company has filed a total of 121 national patents, with 79 granted, including 43 invention patents, positioning itself as a leader in the color spinning industry[39]. Environmental Compliance - The company's wastewater discharge meets the standards set by the "Textile Dyeing and Finishing Industry Water Pollutant Discharge Standards" (GB4297-2012)[106]. - The company has established a comprehensive emergency response plan for environmental pollution incidents, ensuring efficient handling of emergencies[103]. - The company's environmental compliance records show no violations for the first half of 2021 for both Zhejiang Shibiao Fiber Co., Ltd. and Aksu Biaoxin Fiber Co., Ltd.[106][107]. Shareholder Information - The total number of shares after the recent changes is 1,519,375,555, with 99.92% being unrestricted shares[157]. - The largest shareholder, Huafu Holdings Co., Ltd., holds 520,705,950 shares, representing 34.27% of the total shares[160]. - The company repurchased 92,973,035 shares, which is 6.12% of the total share capital[164]. - The company granted stock options to 178 incentive targets, totaling 45 million options, which represents 2.96% of the current total share capital[96]. Risk Management - The company faced risks related to raw material price fluctuations, particularly cotton, which accounts for over 60% of total costs, and currency exchange rate volatility impacting production costs and revenues[86]. - The company is actively developing domestic and non-U.S. markets to mitigate risks associated with order fluctuations due to geopolitical tensions[86]. Employee Engagement - The company has implemented a comprehensive employee care program, focusing on health and career development, particularly for female employees in the spinning factory[109]. - The company plans to implement a stock incentive plan in 2021 to enhance employee motivation and align interests with shareholders[93].

Financial Performance - The company's operating revenue for 2020 was ¥14,231,727,949.61, a decrease of 10.42% compared to ¥15,886,871,683.43 in 2019[25] - The net profit attributable to shareholders was a loss of ¥444,230,430.81, representing a decline of 210.42% from a profit of ¥402,294,451.12 in the previous year[25] - The net cash flow from operating activities decreased by 56.24% to ¥828,351,709.37, down from ¥1,892,922,477.41 in 2019[25] - The basic earnings per share were -¥0.31, a drop of 214.81% compared to ¥0.27 in 2019[25] - Total assets at the end of 2020 were ¥17,610,075,576.16, a decrease of 3.96% from ¥18,335,875,515.57 at the end of 2019[25] - The net assets attributable to shareholders decreased by 10.77% to ¥5,622,219,847.15 from ¥6,300,744,089.76 in 2019[25] - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of ¥754,531,371.57 compared to a profit of ¥51,365,361.62 in 2019, marking a decrease of 1,568.95%[25] - The weighted average return on net assets was -7.31%, down from 6.07% in the previous year[25] - The company reported a net loss of approximately 431.66 million yuan for the year 2020, resulting in a cash dividend distribution of 0.00 yuan, which corresponds to 0.00% of the net profit attributable to ordinary shareholders[130] Revenue Breakdown - The company's revenue for Q4 reached ¥5,572,764,176.04, while the total annual revenue decreased by 10.42% year-on-year[41] - The main business revenue from the cotton spinning industry was approximately ¥14.16 billion, accounting for 99.48% of total revenue, down 10.46% from ¥15.81 billion in 2019[49] - Revenue from yarn products was approximately ¥5.71 billion, representing 40.11% of total revenue, a decline of 20.25% from ¥7.16 billion in 2019[52] - Revenue from net chain products was approximately ¥8.30 billion, accounting for 58.33% of total revenue, down 3.55% from ¥8.61 billion in 2019[52] - Overseas sales of main business were approximately ¥1.30 billion, a significant decrease of 45.16% from ¥2.36 billion in 2019[52] - Domestic sales of main business were approximately ¥12.86 billion, a decrease of 4.36% from ¥13.45 billion in 2019[52] Market and Industry Context - The textile and apparel retail sales in China decreased by 6.6% in 2020, reflecting the impact of the pandemic on the industry[47] - The total export of textiles and apparel from China reached $291.21 billion in 2020, with a year-on-year growth of 9.5%[47] - The company experienced a significant decline in revenue due to the dual impact of the pandemic and sanctions, alongside rising costs from structural adjustments[41] Strategic Initiatives - The company plans to enhance domestic market development and strengthen supply chain integration, focusing on partnerships with leading brands and e-commerce platforms[47] - The company aims to accelerate the construction of intelligent spinning factories and develop a digital cotton interconnection platform[47] - The company is committed to continuing its "main business and shared industry" strategy while enhancing its front-end and back-end supply chains[47] - The company plans to invest in a new 100,000 spindle spinning factory in Vietnam in 2021[74] - The company is focusing on a product strategy that emphasizes functional technology, fashion responsiveness, sustainability, and high-quality development[116] Research and Development - The company reported a total of 117 national patents filed, with 79 patents granted, including 43 invention patents, leading the color-spun yarn industry[43] - Research and development expenses amounted to ¥153,121,988.42, accounting for 1.08% of the operating revenue[81] Cash Flow and Investments - Operating cash inflow totaled ¥16,123,060,552.31, a decrease of 18.54% compared to the previous year[83] - The total cash inflow from investing activities increased by 289.89% to ¥786,652,962.49, while cash outflow decreased by 8.92% to ¥1,148,248,095.71, resulting in a net cash flow from investing activities of -¥361,595,133.22, an improvement of 65.81%[87] - The net cash flow from financing activities was -¥304,123,802.65, a decrease of 74.75% from -¥576,958,913.87, attributed to an increase in bank loan repayments[87] Environmental Compliance - The company has established wastewater treatment stations that are operating well and meet production needs[179] - The company strictly adheres to environmental impact assessment regulations for new, modified, and expanded projects[180] - Zhejiang Shabiao Fiber Co., Ltd. reported no environmental violations in 2020, with a wastewater pretreatment capacity of 5,000 tons per day, utilizing biological-chemical processes[183] - Aksu Biaoxin Fiber Co., Ltd. also had no environmental violations in 2020, with a wastewater pretreatment capacity of 6,000 tons per day, employing similar treatment methods[184] - Huafu Vietnam Industrial Co., Ltd. maintained compliance with local environmental laws in 2020, with a wastewater treatment system designed for 6,000 cubic meters per day, currently processing an average of 2,500 cubic meters daily[185] Shareholder Information - The total number of ordinary shareholders for Huafu Fashion Co., Ltd. at the end of the reporting period was 16,674, an increase from 15,798 at the previous month-end[195] - Huafu Holding Co., Ltd. is the largest shareholder, holding 34.27% of the shares, amounting to 520,705,950 shares[195] - The total number of shares for Huafu Fashion Co., Ltd. is 1,519,375,555, with 99.92% being unrestricted shares[192]

Financial Performance - The company's operating revenue for Q1 2021 was ¥3,844,540,972.24, representing a 66.72% increase compared to ¥2,306,051,643.44 in the same period last year[10] - Net profit attributable to shareholders was ¥131,213,682.07, a significant turnaround from a loss of ¥30,441,948.56 in the previous year, marking a 531.03% increase[10] - The net profit after deducting non-recurring gains and losses was ¥58,360,163.57, compared to a loss of ¥68,231,832.91 last year, reflecting a 185.53% improvement[10] - Basic and diluted earnings per share were both ¥0.09, a significant increase from a loss of ¥0.02 per share in the same period last year, representing a 531.80% improvement[10] - The weighted average return on equity was 2.27%, up from -0.48% in the previous year, indicating a 2.75% increase[10] - The company reported a net profit of approximately ¥2.32 billion in retained earnings, up from ¥2.09 billion, reflecting a growth of 10.06%[52] - Net profit for the period was ¥140,285,276.81, a turnaround from a net loss of ¥34,123,531.88 in the same period last year[68] Cash Flow - The net cash flow from operating activities increased by 142.83% to ¥911,244,090.68 from ¥375,254,214.61 in the previous year[10] - The company's net cash flow from operating activities for the period was ¥911,244,090.68, an increase of 142.83%, primarily due to increased sales and reduced inventory[26] - Cash inflow from operating activities totaled ¥1,342,034,858.71, an increase of approximately 31.8% from ¥1,017,694,456.17 in the prior period[86] - Cash flow from operating activities showed a net outflow of ¥94,259,264.82, an improvement from the previous period's outflow of ¥197,394,781.35[86] - The company generated cash inflows from operating activities totaling approximately ¥4.45 billion, compared to ¥2.55 billion in the previous period[83] Assets and Liabilities - Total assets at the end of the reporting period were ¥17,004,390,175.93, a decrease of 3.44% from ¥17,610,075,576.16 at the end of the previous year[10] - Total current assets amounted to approximately ¥10.13 billion, a decrease of 3.87% from ¥10.54 billion as of December 31, 2020[44] - Total non-current assets decreased to approximately ¥6.88 billion from ¥7.07 billion, a decline of 2.73%[47] - Total liabilities decreased to approximately ¥10.83 billion from ¥11.62 billion, a decline of 6.77%[50] - Total current liabilities decreased to approximately ¥9.82 billion from ¥10.67 billion, a reduction of 7.95%[50] - The company's total liabilities decreased by 31.67% in accounts payable, primarily due to the maturity of notes payable[26] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,798, with the largest shareholder, Huafu Holdings Co., Ltd., holding 34.27% of the shares[15] - Net assets attributable to shareholders increased by 2.78% to ¥5,778,538,081.37 from ¥5,622,219,847.15 at the end of the previous year[10] - The total equity attributable to shareholders increased to approximately ¥5.78 billion from ¥5.62 billion, an increase of 2.93%[52] Operating Costs and Expenses - Total operating costs amounted to ¥3,772,854,886.63, compared to ¥2,380,061,843.65 in the prior year, indicating an increase of about 58.5%[65] - Research and development expenses were ¥28,762,967.77, up from ¥22,725,228.36, reflecting a year-over-year increase of approximately 26.5%[65] - The company reported a significant decrease in financial expenses, with interest expenses dropping to ¥39,371,134.29 from ¥61,331,889.51, a reduction of about 35.8%[65] Future Outlook - The company anticipates a basic earnings per share of ¥0.14, down from ¥0.21 in the previous year, reflecting a strategic shift in market and product structure[35] - The net profit attributable to shareholders is expected to be significantly lower than the previous year's figure of ¥32,000,000, indicating a strategic adjustment in operations[35] - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[84]

Financial Performance - The company's operating revenue for 2020 was ¥14,231,727,949.61, a decrease of 10.42% compared to ¥15,886,871,683.43 in 2019[25] - The net profit attributable to shareholders was -¥444,230,430.81, representing a decline of 210.42% from ¥402,294,451.12 in the previous year[25] - The net cash flow from operating activities was ¥828,351,709.37, down 56.24% from ¥1,892,922,477.41 in 2019[25] - The basic earnings per share were -¥0.31, a decrease of 214.81% compared to ¥0.27 in 2019[25] - Total assets at the end of 2020 were ¥17,610,075,576.16, a decrease of 3.96% from ¥18,335,875,515.57 at the end of 2019[25] - The net assets attributable to shareholders were ¥5,622,219,847.15, down 10.77% from ¥6,300,744,089.76 in 2019[25] - The company reported a significant drop in net profit after deducting non-recurring gains and losses, with a figure of -¥754,531,371.57 for 2020[25] - The weighted average return on net assets was -7.31% for 2020, a decrease of 13.38% from 6.07% in 2019[25] Revenue Breakdown - The main business in the cotton spinning industry generated revenue of approximately ¥14.16 billion, accounting for 99.48% of total revenue, with a decline of 10.46% year-on-year[46] - The company's total revenue for the cotton spinning industry was approximately CNY 14.16 billion, a decrease of 10.46% year-over-year[50] - Yarn revenue accounted for CNY 5.71 billion, down 20.25% compared to the previous year, with a gross margin of 1.46%[50] - The net revenue from the web chain segment was CNY 8.30 billion, representing a decline of 3.55% year-over-year, with a gross margin of 0.80%[50] - The sock products segment saw a significant increase in revenue to CNY 149.57 million, up 212.43% year-over-year, with a gross margin of 16.85%[50] - Domestic sales contributed CNY 12.86 billion, accounting for 90.38% of total sales, with a decrease of 4.36% year-over-year[50] - Overseas sales dropped to CNY 1.30 billion, representing a 45.16% decline compared to the previous year[50] Production and Capacity - The company’s yarn production capacity was 1.89 million spindles, with an annual output of 250,000 tons of new yarn[38] - Total production capacity remained at 1.89 million spindles, with a capacity utilization rate dropping to 71.00% from 91.00% year-on-year[65] - The company reported a total of 220,276 tons in sales volume, a decrease of 14.95% year-over-year, while production volume fell by 25.54% to 191,131 tons[53] - The inventory level decreased by 44.43% to 36,447 tons, primarily due to reduced stock[53] Cash Flow and Investments - Operating cash inflow decreased by 18.54% to ¥16,123,060,552.31, while net cash flow from operating activities fell by 56.24% to ¥828,351,709.37[77] - Investment activities generated a net cash outflow of ¥361,595,133.22, a significant improvement from the previous year's outflow of ¥1,059,005,163.69[77] - The company reported a 14.78% decrease in cash inflow from financing activities, totaling ¥11,755,988,039.44[77] - R&D investment accounted for 1.08% of total revenue, with a total R&D expenditure of ¥153,121,988.42[76] Strategic Initiatives - The company plans to enhance domestic market development and strengthen supply chain integration, focusing on product innovation and operational efficiency[44] - The company aims to accelerate the construction of a smart cotton spinning factory and develop a digital interconnection platform for the cotton industry[44] - The company is committed to a strategy of "maintaining the main business and sharing the industry," focusing on both upstream and downstream supply chain development[44] - The company plans to invest in a new 100,000 spindle spinning factory in Vietnam in 2021, expanding its overseas production capacity[66] - The company is actively developing domestic and non-U.S. markets to mitigate risks associated with geopolitical tensions and order volatility[106] - The company is integrating advanced information systems like SAP and ERP to enhance supply chain efficiency and responsiveness[109] Shareholder and Dividend Information - The company plans not to distribute cash dividends or issue bonus shares for the year[6] - The company implemented a cash dividend policy, distributing 1.41 per 10 shares, totaling approximately 201.12 million, consistent with its shareholder return plan[115] - In 2020, the company did not distribute any cash dividends due to operating losses, with a net loss of approximately 431.66 million CNY[121] - The cash dividend payout ratio for 2019 was 49.99% of the net profit attributable to ordinary shareholders[121] - The cash dividend payout ratio for 2018 was 67.30% of the net profit attributable to ordinary shareholders[121] Environmental Compliance - The company has established a comprehensive environmental risk emergency mechanism for key pollutant discharge enterprises[170] - The company conducts automatic sampling and testing of wastewater discharge parameters to ensure compliance with discharge standards[171] - Zhejiang Shabiao Fiber Co., Ltd. had a wastewater treatment capacity of 5,000 tons/day, with no environmental violations reported in 2020[173] - Aksu Biaoxin Fiber Co., Ltd. reported a wastewater treatment capacity of 6,000 tons/day, also with no environmental violations in 2020[174] - The wastewater discharge standards in Vietnam comply with the strictest local regulations, achieving all pollution indicators within limits in 2020[174] Corporate Structure and Governance - The company has a total of 10 subsidiaries, with Zhejiang Huafu Color Spinning Co., Ltd. contributing a net profit of ¥106,311,871.04, accounting for over 10% of the company's net profit[96] - The current accounting firm is Dahua Certified Public Accountants, with an audit fee of 1.1 million CNY and a continuous service period of 10 years[135] - The company has no major litigation or arbitration matters during the reporting period[139] - The company has not experienced any changes in its controlling shareholder during the reporting period[194] - The actual controller of the company remains unchanged during the reporting period[199]