Financial Performance - The total revenue for the first half of 2022 was CNY 4,710,448,144.61, a decrease of 0.70% compared to CNY 4,743,532,346.81 in the same period last year[28]. - The net profit attributable to shareholders was CNY 346,406,390.76, down 23.27% from CNY 451,454,511.23 year-on-year[28]. - The net profit after deducting non-recurring gains and losses was CNY 299,028,193.10, a decrease of 14.31% compared to CNY 348,957,572.66 in the previous year[28]. - Basic earnings per share were CNY 0.45, down 22.41% from CNY 0.58 in the previous year[28]. - The total comprehensive income for the first half of 2022 was approximately 352.47 million, compared to 432.80 million in the first half of 2021, indicating a decrease of about 18.5%[185]. - The company reported a net loss attributable to shareholders of CNY 763.94 million for the first half of 2022, indicating a challenging financial environment[200]. - The capital reserve decreased by CNY 42.08 million during the reporting period, highlighting potential financial strain[199]. Cash Flow - The net cash flow from operating activities was CNY 464,033,063.69, a significant increase of 239.59% from a negative cash flow of CNY -332,426,945.14 in the same period last year[28]. - Operating cash inflow for the first half of 2022 was CNY 6,345,470,604.28, an increase from CNY 6,002,792,426.98 in the same period of 2021, representing a growth of approximately 5.7%[190]. - The net cash flow from investment activities improved to CNY 115,278,737.37 in the first half of 2022 from a net outflow of CNY -72,435,006.34 in the first half of 2021[193]. - The company experienced a net decrease in cash and cash equivalents of CNY -305,379,472.31 in the first half of 2022, compared to a net decrease of CNY -436,784,883.27 in the first half of 2021[193]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,090,645,917.50, a decrease of 16.74% from CNY 8,516,380,670.95 at the end of the previous year[28]. - The total liabilities decreased to CNY 3,385,161,017.29 as of June 30, 2022, compared to CNY 4,274,651,031.81 at the start of the year, indicating a decline of about 20.8%[172]. - The company's total liabilities included accounts payable of CNY 1,312,286,141.26, which decreased from CNY 2,079,168,330.26, a decline of 36.9%[169]. - The total equity attributable to shareholders decreased to CNY 3,692,205,500.83 as of June 30, 2022, down from CNY 4,263,662,880.72 at the start of the year, a decline of about 13.4%[172]. Investment and R&D - Research and development expenses rose by 10.91% to ¥171,131,790.21, compared to ¥154,301,153.16 in the previous year[48]. - The company plans to enhance its product lineup, particularly in the air fryer category, which is expected to further increase its revenue share in the future[52]. - The company reported a non-recurring profit of ¥47,378,197.66 for the period, primarily driven by government subsidies of ¥74,320,410.34[31]. Market and Operational Strategy - The company launched several new products, including a wall-breaking machine with zinc oxide antibacterial technology and a non-stick frying pan, enhancing brand influence and technological appeal[39]. - The company has fully entered the cleaning small appliance sector, achieving comprehensive coverage in the small appliance category[43]. - The company’s digital platform has been enhanced to support a fully integrated O2O marketing operation system, improving consumer engagement and brand loyalty[42]. - The company aims to strengthen its brand assets in "Family Kitchen," "Public Welfare Kitchen," and "Space Kitchen," leveraging consumer insights for product innovation[44]. - The company faced challenges from rising international commodity prices, impacting operational efficiency[38]. Shareholder and Equity Information - The company plans to distribute a cash dividend of CNY 5.00 per 10 shares, totaling CNY 378,108,500.00 based on the current total share capital[6]. - The company has repurchased 7,428,000 shares for a total amount of RMB 125,004,202.82, which is treated as part of the cash dividend[90]. - The company has a total of 756,217,000 shares as the basis for its dividend distribution plan[90]. - The company’s major shareholder, Shanghai Lihong Enterprise Management Co., holds 50.13% of the shares, while Bilting Developments Limited holds 16.94%[149]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans[6]. - The company is addressing operational risks by optimizing its supply chain and stabilizing production costs to enhance profitability[81]. - The company has established internal control measures for foreign exchange hedging to mitigate risks associated with currency fluctuations[68].

Financial Performance - The operating revenue for Q1 2022 was CNY 2,328,527,536.97, representing a 3.83% increase compared to CNY 2,242,694,899.52 in the same period last year[5]. - The net profit attributable to shareholders decreased by 7.70% to CNY 166,241,068.10 from CNY 180,103,795.09 year-on-year[5]. - Total revenue for the period reached ¥2,328,527,536.97, an increase from ¥2,242,694,899.52 in the previous period, representing a growth of approximately 3.83%[32]. - Net profit for the period was ¥162,677,352.27, compared to ¥175,378,065.71 in the previous period, reflecting a decrease of approximately 7.00%[35]. - Total comprehensive income for the period was ¥159,600,546.29, a decrease of 9.4% from ¥177,098,038.75 in the previous period[38]. Cash Flow - The net cash flow from operating activities significantly improved by 375.47%, reaching CNY 495,669,740.10, compared to a negative cash flow of CNY -179,932,954.23 in the previous year[5]. - Cash inflow from operating activities totaled ¥3,365,280,209.93, up 28% from ¥2,631,039,042.60[39]. - Cash outflow for operating activities was ¥2,869,610,469.83, slightly up from ¥2,810,971,996.83[42]. - Net cash flow from investment activities was negative at -¥75,467,391.13, an improvement from -¥558,996,150.81 in the previous period[42]. - Cash and cash equivalents increased to 2,562,953,716.45 RMB from 1,986,843,911.48 RMB[26]. - Cash and cash equivalents at the end of the period increased to ¥2,136,476,269.43 from ¥1,065,551,254.02, marking a significant rise[42]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 8,429,014,890.21, a decrease of 1.03% from CNY 8,516,380,670.95 at the end of the previous year[5]. - Total liabilities decreased to ¥4,027,684,704.78 from ¥4,274,651,031.81, representing a reduction of approximately 5.77%[32]. - The company's current assets totaled 6,464,823,795.23 RMB at the end of the reporting period, compared to 6,522,298,711.04 RMB at the beginning of the year[26]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 42,257[14]. - Shanghai Lihong Enterprise Management Co., Ltd. held 50.13% of shares, totaling 384,523,746 shares, with 307,618,897 shares pledged[14]. - BILTING DEVELOPMENTS LIMITED owned 16.94% of shares, amounting to 129,924,090 shares, with 103,939,172 shares pledged[14]. - The company's cash dividend distribution plan for 2021 was approved, proposing a cash dividend of 10.0 RMB per 10 shares, based on a total share capital of 767,017,000 shares[21]. Expenses - Total operating costs amounted to ¥2,139,608,721.45, up from ¥2,056,676,274.10, indicating an increase of about 4.00%[34]. - Research and development expenses for the period were ¥88,441,844.05, compared to ¥79,022,046.04 in the previous period, marking an increase of approximately 11.00%[34]. - The company reported a decrease in sales expenses to ¥256,877,422.54 from ¥353,355,791.17, a reduction of about 27.30%[34]. Equity and Earnings - The equity attributable to shareholders increased by 3.83% to CNY 4,426,827,142.84 from CNY 4,263,662,880.72 year-on-year[5]. - The basic earnings per share decreased by 8.33% to CNY 0.22 from CNY 0.24 in the same period last year[5]. - The weighted average return on equity was 3.83%, down by 0.29 percentage points from 4.12% in the previous year[5].

Financial Performance - The total operating revenue for 2021 was CNY 10,540,473,926.06, a decrease of 6.09% compared to 2020[31] - The net profit attributable to shareholders was CNY 745,601,463.86, down 20.69% from the previous year[31] - The net cash flow from operating activities was negative at CNY -34,788,705.11, a decline of 101.73% compared to 2020[31] - Basic earnings per share decreased by 21.14% to CNY 0.97[31] - The total assets at the end of 2021 were CNY 8,516,380,670.95, a decrease of 6.77% from the end of 2020[31] - The net assets attributable to shareholders were CNY 4,263,662,880.72, a slight decrease of 0.47% compared to the previous year[31] - The weighted average return on equity was 17.45%, down from 23.83% in 2020[31] - The company reported a net profit excluding non-recurring gains and losses of CNY 596,777,184.42, a decrease of 12.29% from 2020[31] - The company reported a total profit of CNY 790.50 million, down 25.63% year-on-year, and a net profit attributable to shareholders of CNY 745.60 million, down 20.69%[52] - The company’s gross profit margin decreased by 4.27 percentage points year-on-year[52] Cash Flow and Investments - The company’s operating cash flow was negative at CNY -34.79 million, a decline of 101.73% year-on-year[53] - The net cash flow from investment activities increased by 219.44% to ¥788,585,926.81, mainly due to the recovery of fixed asset disposal proceeds and reduced financial investments[77] - The cash and cash equivalents net increase was -¥37,868,650.08, a decline of 106.85% compared to the previous year[77] - The company reported an investment income of ¥49,617,016.58, contributing 6.28% to total profit, derived from dividends and returns on financial products[79] Market Position and Strategy - The company maintained a strong market position, with key products like soybean milk machines and wall-breaking machines holding the top market share[46] - The company is focusing on brand rejuvenation and targeting younger consumers, enhancing product appeal through innovative technology[46] - In 2021, the company expanded its online presence by launching flagship stores and live streaming sales, adapting to the rapid changes in e-commerce channels[47] - The overall market for small appliances is expected to grow, driven by increasing consumer demand for high-quality and convenient products[41] - The company aims to achieve a more integrated O2O (Online to Offline) business model to enhance customer engagement and sales conversion rates[47] Research and Development - The company’s R&D investment increased by 3.31% year-on-year, totaling CNY 357.28 million, with a total of 10,129 patents held by the end of the reporting period[52] - The company’s R&D personnel increased to 631 in 2021, a growth of 5.52% from 598 in 2020, with the proportion of R&D personnel rising to 21.65%[73] - In 2021, the company invested CNY 357 million in R&D, accounting for over 3% of its revenue, and holds 10,129 patents, including 543 invention patents[195] Sales Performance - The company’s domestic sales decreased by 11.73% to CNY 9,082.44 million, while overseas sales increased by 56.09% to CNY 1,458.03 million[57] - The company’s online sales accounted for 58.57% of total sales, while offline sales accounted for 41.43%[57] - The company's revenue from the nutrition pot series reached ¥3,831,960,152.18, an increase of 19.40% year-over-year[60] - The total revenue from the home appliance industry was ¥10,880,536,150.28, reflecting a year-over-year growth of 17.06%[60] - Online sales accounted for ¥6,173,142,635.83, representing a 29.45% increase compared to the previous year[60] Corporate Governance - The company has maintained a strong governance structure, complying with relevant laws and regulations, and has not received any administrative regulatory measures from authorities[112] - The company operates independently from its controlling shareholders in terms of business, personnel, assets, and finance, ensuring complete operational autonomy[113] - The company has maintained a stable management structure with no changes in the board of directors or senior management during the reporting period[121] - The independent directors and supervisors have extensive experience in academia and corporate governance, enhancing the company's oversight capabilities[124][127] Shareholder Returns - The company plans to distribute a cash dividend of CNY 10.00 per 10 shares, totaling CNY 767,017,000[5] - The cash dividend represents 100% of the total profit distribution amount, with a distributable profit of 1,192,996,136.65 CNY[168] - Since its listing in 2008, the company has distributed over CNY 6.5 billion in dividends to shareholders, reflecting its commitment to high-quality development and investor returns[197] Social Responsibility - In 2021, the company's total social charity donations amounted to CNY 10,831,199.46, including CNY 5,880,000 in cash and CNY 4,951,199.46 in material donations[199] - The company has actively participated in public welfare, donating a total of CNY 93,224,919.36 since 2008, focusing on education and health initiatives[199] - The company has successfully implemented a three-waste reduction strategy, adhering to ISO14001:2015 and ISO45001:2018 standards, with no reported environmental penalties during the reporting period[192] Risks and Challenges - The company faces risks from increasing competition in the small appliance market, which may lead to a decline in product profit margins[105] - The fluctuation in raw material prices, including iron, stainless steel, aluminum, copper, and plastics, poses a risk to the company's profitability[106] - The company plans to enhance its technological innovation and strengthen intellectual property protection to mitigate industry risks[105] Employee and Management Structure - Total number of employees at the end of the reporting period is 2,915, with 283 in the parent company and 2,632 in major subsidiaries[161] - The employee composition includes 750 production personnel, 516 sales personnel, 631 technical personnel, and 67 financial personnel[161] - The company has implemented specialized training programs for management, professionals, and new employees[163]

Financial Performance - The company's revenue for Q3 2021 was ¥2,288,421,316.19, a decrease of 9.35% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2021 was ¥211,704,401.73, down 6.42% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥197,518,780.25, a decline of 5.51% compared to the previous year[5] - The company's basic earnings per share for Q3 2021 was ¥0.29, down 3.33% year-on-year[5] - The company reported a significant increase in investment income, which rose to 53,838,899.20 from 20,982,567.45, a growth of 156.5%[30] - The total comprehensive income attributable to the parent company's owners is 662,180,069.36, down from 649,445,485.80, a decrease of 2.3%[33] - Operating profit decreased to 725,077,538.27 from 740,835,126.88, a decline of 2.1%[30] Assets and Liabilities - The total assets at the end of Q3 2021 were ¥7,580,907,506.60, representing a decrease of 17.01% from the end of the previous year[7] - Total assets decreased to CNY 7,580,907,506.60 from CNY 9,134,826,691.51, a decline of about 17.1%[23] - Total liabilities for leasing reached ¥22,035,656.08, with non-current liabilities due within one year at ¥29,151,811.52[12] - Total liabilities decreased to CNY 3,402,576,861.91 from CNY 4,852,334,933.07, reflecting a decrease of approximately 30%[26] - The company's equity attributable to shareholders decreased to CNY 4,184,856,332.93 from CNY 4,283,761,519.10, a decline of about 2.3%[26] - Total liabilities amounted to ¥4,809,797,787.14, with a slight increase of ¥10,135,444.87 compared to the previous period[43] Cash Flow - Cash flow from operating activities showed a net outflow of ¥459,813,538.33, a significant decline of 154.97% compared to the previous year[5] - The net cash flow from operating activities dropped by 154.97% to -¥459,813,538.33, primarily due to payments for prior period raw material purchases[12] - Cash inflow from financing activities decreased by 97.13% to ¥24,525,520.00, mainly due to a reduction in bank acceptance bills received[12] - Cash inflow from investment activities rose by 210.04% to ¥10,851,423.00, reflecting increased cash from the disposal of joint ventures[12] - Operating cash flow outflow totaled ¥8,650,690,899.00, an increase of 17.3% from ¥7,377,410,882.15 in the previous period[37] - Net cash flow from investment activities was ¥14,263,698.25, a recovery from -¥1,312,582,276.80 in the previous period[37] - Net cash flow from financing activities was -¥792,627,480.00, a decrease from ¥48,597,632.04 in the prior period[37] Operational Metrics - The weighted average return on equity was 4.07%, a decrease of 1.78 percentage points year-on-year[5] - The company reported a significant increase in prepayments by 415.72% to ¥83,769,484.63 due to rising raw material prices[9] - The company’s trade receivables increased by 265.58% to ¥776,781,891.28, primarily due to an increase in receivables from JS Global Trading HK Limited[9] - Total operating costs increased to CNY 6,428,336,085.06, up from CNY 6,354,338,648.43, reflecting a rise in operating costs[27] - Research and development expenses increased to 226,557,709.56 from 218,537,881.86, reflecting a growth of 3.7%[30] - Sales expenses rose to 1,036,712,663.47 from 990,575,154.88, marking an increase of 4.7%[30] Other Financial Highlights - Other income surged by 188.41% to ¥76,730,424.69, mainly driven by an increase in government subsidies[12] - The company reported a significant increase in fair value gains of 232.87% to ¥13,058,790.16, due to an increase in fund fair values[12] - Minority interests showed a drastic decline of 413.93% to -¥6,525,688.24, primarily due to losses from a subsidiary[12] - The company is focusing on expanding its market presence and developing new products, although specific figures were not disclosed in the report[29] - The company did not have an audited third-quarter report[47]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 4,743,532,346.81, representing a 4.06% increase compared to CNY 4,558,530,041.84 in the same period last year[30]. - Net profit attributable to shareholders was CNY 451,454,511.23, an increase of 8.06% from CNY 417,767,085.20 year-on-year[30]. - The net profit after deducting non-recurring gains and losses decreased by 11.22% to CNY 348,957,572.66 from CNY 393,051,511.64 in the previous year[30]. - The net cash flow from operating activities was negative at CNY -332,426,945.14, a decline of 163.10% compared to CNY 526,790,909.23 in the same period last year[30]. - Total assets at the end of the reporting period were CNY 8,043,698,615.03, down 11.94% from CNY 9,134,826,691.51 at the end of the previous year[30]. - The net assets attributable to shareholders decreased by 7.28% to CNY 3,972,050,661.55 from CNY 4,283,761,519.10 at the end of the previous year[30]. - Basic earnings per share increased by 7.41% to CNY 0.58 from CNY 0.54 in the same period last year[30]. - Diluted earnings per share rose by 5.45% to CNY 0.58 compared to CNY 0.55 in the previous year[30]. - The weighted average return on equity was 10.30%, a slight decrease of 0.41% from 10.71% in the previous year[30]. Revenue and Growth - The company's revenue for the first half of the year was ¥4,743,532,346.81, representing a year-on-year increase of 4.06% compared to ¥4,558,530,041.84 in the same period last year[46]. - The domestic revenue accounted for 86.51% of total revenue, while overseas revenue surged by 243.20% to ¥639,783,778.84, compared to ¥186,419,730.02 last year[49]. - The company's revenue for the home appliance sector reached ¥4,503,670,481.94, representing an 8.01% increase compared to the same period last year[52]. - The revenue from the food processing machine series was ¥2,285,282,002.25, with a year-on-year growth of 9.74%[52]. - Total operating revenue for the first half of 2021 was CNY 4,743,532,346.81, an increase of 4.05% compared to CNY 4,558,530,041.84 in the first half of 2020[165]. Expenses and Costs - The gross profit margin for the home appliance sector was 30.50%, a decrease of 2.23% from the previous year[49]. - Sales expenses increased by 10.82% to ¥774,149,896.98, compared to ¥698,569,074.21 in the previous year[46]. - Total operating costs for the first half of 2021 were CNY 4,370,611,407.70, up from CNY 4,078,483,364.34 in the same period of 2020, reflecting a growth of 7.15%[165]. Investment and R&D - The company invested ¥154,301,153.16 in R&D, which is a 4.31% increase from ¥147,929,295.03 in the previous year[46]. - Investment income amounted to ¥48,207,470.84, accounting for 9.70% of total profit[54]. - The company invested ¥22,498,118.03 during the reporting period, a 47.99% increase compared to the same period last year[65]. Cash Flow and Liquidity - Cash inflow from operating activities in the first half of 2021 was ¥6,002,792,426.98, an increase of 9.5% from ¥5,476,736,130.85 in the first half of 2020[177]. - Cash outflow from operating activities totaled ¥6,335,219,372.12 in the first half of 2021, compared to ¥4,949,945,221.62 in the same period of 2020, indicating a rise of 28.1%[177]. - Cash and cash equivalents at the end of the first half of 2021 stood at ¥1,277,012,301.18, up from ¥547,370,899.10 at the end of the first half of 2020[179]. - The company's cash and cash equivalents at the end of the reporting period were ¥2,068,462,099.55, which is 25.72% of total assets[56]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for this period[7]. - The total equity attributable to shareholders of the parent company at the end of the reporting period was 4,283,761,519.10 CNY, reflecting a decrease due to a comprehensive loss[188]. - The company reported a decrease in undistributed profits of CNY -27,668,584.84, indicating a reduction in retained earnings[198]. - The total equity at the end of the reporting period is CNY 3,283,807,926.88, showing a decrease of CNY 195,618,423.55 compared to the beginning of the year[200]. Strategic Initiatives - The company launched several new products, including the Hongmeng Smart Link Immersion Blender Y521 and the Shark V5 All-in-One Floor Cleaner, focusing on mainstream and essential categories[38]. - The company is focusing on digital transformation and utilizing big data to enhance its operational efficiency and consumer engagement[43]. - The company plans to enhance technological innovation and strengthen intellectual property protection to mitigate industry competition risks[75]. - The company aims to enter new fields such as cleaning small appliances, leveraging the trend of quality consumption in the small appliance sector[42]. - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[190]. Corporate Social Responsibility - The company plans to donate a total of at least 100 million RMB to the Jiuyang Public Welfare Foundation over the next ten years for rural revitalization initiatives[97]. - As of June 30, 2021, 87 Jiuyang Rural Revitalization Kitchens were under construction or renovation to improve school kitchen standards in rural areas[97]. - The company donated 5 million RMB worth of materials to support disaster relief efforts in Henan following extreme rainfall in July 2021[98]. Related Party Transactions - The company reported a total of 59,679.74 million RMB in related party transactions, accounting for 11.24% of similar transaction amounts[105]. - The company’s actual related party transactions did not exceed the approved transaction amount of 137,000 million RMB[105]. - The company’s related party transactions included sales of finished products and provision of R&D services, with transaction pricing based on market rates[105].

Financial Performance - The company's operating revenue for Q1 2021 was ¥2,242,694,899.52, representing a 31.77% increase compared to ¥1,702,037,045.29 in the same period last year[9] - Net profit attributable to shareholders was ¥180,103,795.09, up 22.63% from ¥146,873,325.81 year-on-year[9] - The net profit after deducting non-recurring gains and losses was ¥161,576,890.20, reflecting a 12.57% increase from ¥143,533,461.10 in the previous year[9] - The basic earnings per share increased to ¥0.24, a rise of 26.32% compared to ¥0.19 in the same period last year[9] - Operating profit for the current period was ¥208,470,053.19, representing a 10.3% increase compared to ¥188,104,261.65 in the previous period[51] - Net profit for the current period was ¥175,378,065.71, an increase of 20.3% from ¥145,823,994.71 in the prior period[51] - Total profit for the current period was ¥207,132,858.09, compared to ¥186,150,107.12 in the previous period, reflecting an increase of 11.4%[51] - The total comprehensive income for the current period was ¥177,098,038.75, compared to ¥151,896,164.91 in the previous period, marking a 16.6% increase[51] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥8,621,160,146.97, down 5.62% from ¥9,134,826,691.51 at the end of the previous year[9] - The company's total liabilities increased significantly, with accounts payable decreasing by 57.84% to ¥1,031,043,215.04, indicating a shift in payment strategies[32] - As of March 31, 2021, total liabilities amounted to CNY 4,137,462,544.97, a decrease of approximately 14.7% from CNY 4,852,334,933.07 on December 31, 2020[35] - The total equity attributable to shareholders increased to CNY 4,465,160,802.75, up from CNY 4,283,761,519.10, reflecting a growth of about 4.2%[37] - Total current liabilities decreased to CNY 4,058,212,022.49, down from CNY 4,799,662,342.27, a reduction of about 15.4%[35] - Non-current liabilities totaled CNY 79,250,522.48, up from CNY 52,672,590.80, indicating an increase of about 50.5%[35] Cash Flow - The net cash flow from operating activities was negative at -¥179,932,954.23, a significant decrease of 225.73% compared to ¥143,106,492.72 in the same period last year[9] - Operating cash inflow for the current period was CNY 2,631,039,042.60, an increase of 12.1% from CNY 2,346,661,553.56 in the previous period[61] - Net cash outflow from operating activities was CNY -179,932,954.23, compared to a net inflow of CNY 143,106,492.72 in the previous period[61] - Cash inflow from investment activities totaled CNY 653,070,564.15, up from CNY 530,629,281.04 in the previous period, marking a 23.1% increase[61] - Cash inflow from financing activities was CNY 90,900,000.00, a decrease from CNY 275,000,000.00 in the previous period[65] - The net increase in cash and cash equivalents was CNY -648,245,930.43, compared to CNY -199,268,081.85 in the previous period[65] Shareholder Information - The company had a total of 29,452 common shareholders at the end of the reporting period[12] - The largest shareholder, Shanghai Lihong Enterprise Management Co., Ltd., held 50.12% of the shares, with 384,523,746 shares pledged[12] Inventory and Receivables - Accounts receivable increased by 146.03% to ¥522,763,903.50, primarily due to increased sales during the period[19] - Prepayments surged by 446.02% to ¥88,690,682.37, mainly due to increased advance payments for materials[19] - Construction in progress rose by 111.94% to ¥23,338,512.88, attributed to factory expansion[19] - The company's inventory decreased to CNY 300,935,001.96 from CNY 434,139,429.10, a reduction of about 30.7%[38] Accounting and Reporting - The first quarter report has not been audited, indicating a potential area of concern for investors regarding the reliability of the financial data presented[83] - The company has made adjustments to its accounting policies in accordance with the Ministry of Finance's revised lease accounting standards effective from January 1, 2019, for companies listed both domestically and internationally[82] - The new lease accounting standards will be applied retrospectively starting from January 1, 2021, for companies that follow the enterprise accounting standards[83]

Financial Performance - The company's operating revenue for 2020 was CNY 11,223,747,609.01, representing a 20.02% increase compared to CNY 9,351,439,510.07 in 2019[19] - The net profit attributable to shareholders for 2020 was CNY 940,080,034.27, which is a 14.07% increase from CNY 824,105,192.42 in the previous year[19] - The net cash flow from operating activities reached CNY 2,009,298,071.00, marking a significant increase of 60.36% from CNY 1,253,024,651.38 in 2019[19] - The basic earnings per share for 2020 was CNY 1.23, up 14.95% from CNY 1.07 in 2019[19] - Total assets at the end of 2020 amounted to CNY 9,134,826,691.51, reflecting a 22.32% increase from CNY 7,467,802,731.42 at the end of 2019[19] - The net assets attributable to shareholders increased to CNY 4,283,761,519.10, a 14.14% rise from CNY 3,753,065,661.20 in 2019[19] - The company reported a decrease of 9.76% in net profit attributable to shareholders after deducting non-recurring gains and losses, totaling CNY 680,410,546.02 in 2020[19] - The weighted average return on equity for 2020 was 23.83%, an increase of 2.61% from 21.22% in 2019[19] Revenue and Sales Growth - In 2020, the company's total operating revenue reached approximately CNY 11.18 billion, with a net profit attributable to shareholders of CNY 1.04 billion, reflecting a year-on-year increase of 15.6% in revenue and 12.3% in net profit[23] - The total sales volume for 2020 reached 6,689,000 units, representing a year-on-year increase of 16.66% compared to 5,734,000 units in 2019[51] - Domestic sales accounted for 91.68% of total revenue, while overseas sales increased by 79.88% year-on-year[48] Product Innovation and Market Strategy - The company launched innovative products such as a hands-free blender and a non-coating steam rice cooker, which have gained significant market traction and contributed to maintaining a leading position in their respective categories[32] - The company aims to further expand its market share by focusing on product innovation and enhancing brand recognition in the small appliance sector[30] - The company has established a digital operation strategy, leveraging over 20 million user followers across various platforms to enhance customer engagement and drive sales through interactive shopping experiences[33] - The company aims to integrate technology and design to enhance product competitiveness and meet consumer demands[43] Research and Development - The company invested CNY 345.84 million in R&D, an increase of 4.68% compared to the previous year[40] - The company launched 2,227 new patent applications, bringing the total to 8,378 patents by the end of the reporting period[43] Cash Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 10.0 per 10 shares, based on a total share capital of 767,033,000 shares[6] - The cash dividend for 2020 represents 81.59% of the net profit attributable to shareholders, which was 940,080,034.27 yuan[94] - The company has maintained a consistent cash dividend policy over the past three years, with cash dividends amounting to 613,896,800 yuan in 2018 and 828,430,320 yuan in 2019[94] - The company has not proposed any stock dividends or capital reserve transfers in its profit distribution plan for 2020[96] Corporate Governance and Structure - The company has a diverse board with members holding various academic and professional qualifications, enhancing its governance structure[160][161][162][163][164] - The company continues to focus on enhancing its corporate governance through the appointment of qualified professionals to its board[160][161] - The company operates independently from its controlling shareholder, with a complete and autonomous business, personnel, asset, institutional, and financial structure[184] - The company has established an independent financial accounting department and a financial management system, allowing for independent financial decision-making[184] Social Responsibility and Community Engagement - The total amount of social donations made by Joyoung in 2020 was ¥8,234,356.49, including cash donations of ¥3,363,394.00 and material donations valued at ¥4,870,962.49[121] - Over the past decade, Joyoung has established 1,084 "Joyoung Hope Kitchens" across 27 provinces, benefiting over 2.6 million students[119] - Joyoung's total donations from 2008 to 2020 amounted to ¥82,393,719.90, with cash donations of ¥60,211,621.66 and material donations valued at ¥22,182,098.24[122] - Joyoung has committed to focusing on "education" and "health" in its future poverty alleviation plans, launching the "Zhejiang Joyoung Public Welfare Foundation" to support rural revitalization[125] Risk Management and Compliance - The company has not received any administrative regulatory measures from regulatory authorities during the reporting period[182] - The governance structure complies with the relevant regulations and guidelines set by the China Securities Regulatory Commission[182] - The supervisory board found no risks during its oversight activities throughout the reporting period[196] - The company reported no significant internal control deficiencies during the reporting period[199]

Financial Performance - Net profit attributable to shareholders rose by 6.80% to CNY 226,221,124.84 for the reporting period[9] - Operating revenue for the period reached CNY 2,524,414,362.45, reflecting a growth of 22.07% year-on-year[9] - Basic earnings per share increased by 7.14% to CNY 0.30 for the reporting period[9] - The weighted average return on equity rose by 0.36 percentage points to 5.85%[9] - Net profit for the third quarter of 2020 reached CNY 219,446,478.03, compared to CNY 207,707,092.57 in the same quarter of 2019, representing a growth of 5.4%[56] - The net profit attributable to the parent company was ¥643,988,210.04, compared to ¥617,827,914.32, an increase of 4.23%[65] - Net profit for the current period was ¥638,709,517.25, up 8.1% from ¥590,683,896.43 in the previous period[73] Assets and Liabilities - Total assets increased by 2.07% to CNY 7,622,734,601.55 compared to the end of the previous year[9] - The total liabilities decreased to ¥3,622,720,438.15 from ¥3,716,816,539.31, reflecting a reduction of about 2.53%[39] - The total equity increased to ¥4,000,014,163.40 from ¥3,750,986,192.11, marking an increase of approximately 6.63%[42] - The company's total current liabilities amounted to ¥3,607,272,703.07, slightly down from ¥3,700,078,976.85, a decrease of about 2.51%[39] - The total cash and cash equivalents at the end of the period is ¥730,227,137.31, up from ¥660,886,233.06 in the previous period[84] Cash Flow - The net cash flow from operating activities decreased by 58.44% to CNY 309,734,992.75 compared to the same period last year[9] - Net cash flow from investing activities decreased by 137.84% to -¥1,312,582,276.80, mainly due to increased purchases of financial products[21] - Net cash flow from financing activities increased by 107.80% to ¥48,597,632.04, primarily due to increased bank acceptance bills received[21] - The cash inflow from operating activities totaled ¥3,527,608,835.47, down from ¥3,844,896,407.79 in the previous period, indicating a decline of approximately 8.2%[85] Revenue and Costs - Total operating revenue for the third quarter of 2020 was CNY 2,524,414,362.45, an increase of 21.9% compared to CNY 2,068,019,945.39 in the same period of 2019[53] - Total operating costs for the third quarter of 2020 were CNY 2,275,855,284.09, up from CNY 1,842,047,297.13 in the previous year, reflecting a 23.5% increase[53] - Total operating costs rose to ¥6,354,338,648.43 from ¥5,610,254,295.47, an increase of 13.19%[62] Investments and Expenses - Trading financial assets increased by 673.17% to ¥1,379,438,860.15 due to increased investment in financial products[21] - Research and development expenses for the third quarter of 2020 were CNY 70,608,586.83, compared to CNY 67,875,047.21 in the previous year, indicating a 3.4% increase[53] - Investment income fell by 60.28% to ¥20,982,567.45, primarily due to reduced fund dividends[21] - The company reported a significant increase in sales expenses to ¥990,575,154.88 from ¥895,668,685.52, a rise of 10.63%[65] Shareholder Information - The company reported a total of 19,960 common shareholders at the end of the reporting period[12] - Shanghai Lihong Enterprise Management Co., Ltd. holds 50.12% of the shares, making it the largest shareholder[12] Other Financial Metrics - The company received government subsidies amounting to CNY 25,254,534.46 during the reporting period[9] - Non-operating income and expenses totaled CNY 41,898,401.11, after accounting for tax impacts and minority interests[9] - The company reported a significant increase in minority interests by 808.23% to ¥14,727,407.59, resulting from capital increase in a subsidiary[21]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately CNY 4.56 billion, representing an increase of 8.87% compared to the same period last year[17]. - The net profit attributable to shareholders was approximately CNY 417.77 million, reflecting a growth of 2.90% year-on-year[17]. - The net cash flow from operating activities surged by 197.94% to approximately CNY 526.79 million compared to the previous year[17]. - The company's gross profit margin was 32.62%, up by 0.29 percentage points compared to the previous year[36]. - The basic earnings per share for the reporting period was CNY 0.54, a slight increase of 1.89% from the previous year[17]. - The total comprehensive income for the first half of 2020 was CNY 420,534,271.07, compared to CNY 400,171,303.62 in the same period of 2019, reflecting a growth of 5.34%[139]. - The total profit for the first half of 2020 was approximately ¥649.90 million, an increase of 14.91% compared to ¥565.58 million in the same period of 2019[142]. - The net profit for the first half of 2020 reached approximately ¥634.73 million, up 15.5% from ¥549.48 million in the first half of 2019[142]. Assets and Liabilities - The total assets at the end of the reporting period were approximately CNY 7.20 billion, a decrease of 3.61% from the end of the previous year[17]. - The total liabilities decreased to CNY 3,422,559,576.04 from CNY 3,716,816,539.31, a decrease of about 7.93%[130]. - The total equity increased to CNY 3,775,603,732.18 from CNY 3,750,986,192.11, reflecting a growth of approximately 0.66%[130]. - Cash and cash equivalents decreased to CNY 1,271,286,980.71 from CNY 1,603,255,665.88, a reduction of about 20.66%[127]. - The total assets amounted to CNY 7,198,163,308.22, down from CNY 7,467,802,731.42, indicating a decrease of about 3.61%[130]. Research and Development - The company maintained a strong focus on R&D, with R&D expenses amounting to CNY 14.79 million, a growth of 3.41% year-on-year[36]. - Research and development investment increased by 3.41% to ¥147,929,295.03, reflecting the company's commitment to innovation[44]. - Research and development expenses for the first half of 2020 were CNY 147,929,295.03, slightly up from CNY 143,053,533.12 in the same period of 2019, indicating a focus on innovation[138]. Market Position and Strategy - The company continues to position its brand in the kitchen appliance sector, aiming to meet the rising demand for high-quality and smart small appliances in China[22]. - The company plans to continue focusing on the development and sales of small household appliances, with an emphasis on improving kitchen environments and cooking methods[22]. - The company has diversified its product offerings, reducing reliance on soybean milk machines while entering new categories such as water purifiers and cleaning appliances[72]. - The company plans to launch more new products tailored for the main consumer demographic, focusing on digital transformation and cross-border operations in e-commerce and live streaming[41]. Social Responsibility and Community Engagement - The company focuses on social responsibility through education and health-related public welfare projects, including the "Jiu Yang Hope Kitchen" initiative[91]. - The company has donated 50 million RMB to establish 1,012 "Joyoung Hope Kitchens" across 27 provinces, benefiting over 2.6 million students over the past decade[92]. - In the first half of 2020, the company contributed 338.2 million RMB in material assistance for poverty alleviation efforts[93]. - The company plans to continue focusing on youth nutrition and health projects, expanding its public welfare initiatives to include national health and rural revitalization[94]. Operational Challenges and Responses - The company is facing increased competition in the small home appliance market, which may lead to a decline in product profit margins[70]. - The company plans to enhance technological innovation and strengthen intellectual property protection to mitigate market competition risks[70]. - The company has established a complete and strict internal control process for quality control to prevent potential quality issues in small household appliances[73]. - The company implemented strict health measures during the pandemic, ensuring business continuity and employee safety, including workplace disinfection and remote work[92]. Shareholder Information - The company’s major shareholder, Shanghai Lihong Enterprise Management Co., Ltd., holds 50.12% of the shares, totaling 384,523,746[107]. - The top 10 unrestricted common stock shareholders include Shanghai Lihong Enterprise Management Co., Ltd. with 384,523,746 shares, accounting for 8.32% of total shares[108]. - The company reported a total of 1.68 billion yuan in actual related party transactions in the first half of 2020, with an estimated annual amount of 7.5 billion yuan[81]. Financial Management and Reporting - The company adheres to ISO14001:2015 environmental management standards and has no industrial waste emissions during the reporting period[90]. - The financial statements are prepared in RMB, with the consolidated balance sheet dated June 30, 2020[126]. - The company has not issued any public bonds that are due or unable to be fully redeemed as of the report approval date[124]. - The company has made no significant changes in accounting policies or prior period error corrections during this reporting period[152].

九阳股份有限公司 2020 年第一季度报告 Joyoung 九阳 2020 年 04 月 九阳股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人王旭宁、主管会计工作负责人裘剑调及会计机构负责人(会计主 管人员)郭雯声明：保证季度报告中财务报表的真实、准确、完整。 1 九阳股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |----------------------------------------------------|------------------|------------------|--------------------------| | □ 是 √ 否 | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | 营业收入（元） | ...