Financial Performance - The company achieved a net profit of 1.1-1.65 billion CNY in H1 2022, with a net profit from its subsidiary, Yaowang Network, estimated at 1.8-2.1 billion CNY [3] - The company's GMV (Gross Merchandise Volume) reached 5.5 billion CNY in H1 2022, reflecting a year-on-year growth of approximately 53% [4] - In June 2022, the GMV growth rate was around 120% compared to the previous year [4] Business Strategy - The company plans to expand its team of business anchors to 1,000, focusing on sales and training [3] - The strategy includes increasing the number of signed artists and anchors in the clothing sector, aiming for 1-2 billion CNY in clothing sales in H1 2022 [4] - The company is entering overseas markets through partnerships with TikTok, targeting regions like the UK, Indonesia, and the US [4] Operational Insights - The company is focusing on improving its supply chain management and has plans to establish a physical base in Linping, which will support non-standard product supply chain integration [8] - The company aims to enhance its digital asset capabilities, including the launch of a digital virtual studio and NFT products [4] - The operational model emphasizes efficient product flow and management, with a goal to reduce return rates and improve profit margins [7] Market Outlook - The live commerce industry is expected to continue growing, with a focus on diversifying product categories and reducing overlap in offerings [5] - The company anticipates a significant increase in the number of mid-tier and lower-tier anchors, aiming to create a rich product ecosystem [5] - The overall market for non-standard products is projected to grow, with expectations for substantial sales volume in Q4 2022 [9]

Financial Performance - The company's revenue for Q3 2022 reached ¥1,234,961,573.74, an increase of 88.80% compared to the same period last year[6] - Net profit attributable to shareholders was ¥94,612,759.04, reflecting a significant increase of 208.97% year-on-year[6] - The net profit after deducting non-recurring gains and losses was ¥89,284,717.71, up by 211.78% compared to the previous year[6] - Basic and diluted earnings per share were both ¥0.1039, representing a growth of 208.91% year-on-year[6] - Operating revenue increased by 81.67% to ¥3,036,594,327.32 compared to ¥1,671,447,981.76 in the same period last year, primarily due to the growth in social e-commerce business[18] - Operating profit for the current period was ¥225,104,439.09, compared to a loss of ¥127,954,531.47 in the previous period, indicating a turnaround in profitability[45] - Net profit for the current period was ¥205,612,477.09, a substantial recovery from a net loss of ¥144,671,034.84 in the previous period[45] - Total comprehensive income for the current period was ¥207,617,471.73, contrasting with a total comprehensive loss of ¥144,630,587.61 in the previous period[45] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥7,258,268,091.47, a 2.78% increase from the end of the previous year[9] - Shareholders' equity attributable to the parent company was ¥5,700,226,790.41, up 2.37% from the previous year[9] - As of September 30, 2022, the company's total current assets amounted to 4,167,242,741.71 RMB, a decrease from 4,581,111,553.44 RMB at the beginning of the year[35] - The company's total assets reached 7,258,268,091.47 RMB, compared to 7,061,928,890.01 RMB at the beginning of the year[38] - The total liabilities of the company were 1,519,645,123.09 RMB, an increase from 1,465,496,749.13 RMB at the beginning of the year[38] - The company's equity attributable to shareholders amounted to 5,700,226,790.41 RMB, up from 5,568,212,115.15 RMB at the beginning of the year[41] Cash Flow - The cash flow from operating activities showed a negative net amount of -¥210,401,401.20, a decline of 235.41% compared to the same period last year[6] - Net cash flow from operating activities was negative at ¥-210,401,401.20, worsening by 235.41% from ¥-62,728,733.98 in the previous year, mainly due to payment for goods[18] - Net cash flow from investing activities was negative at ¥-831,083,280.99, a significant increase of 794.68% from ¥-92,891,428.73, due to increased investment expenditures[18] - Net cash flow from financing activities was negative at ¥-78,034,909.21, a decline of 102.61% compared to the previous year's positive cash flow of ¥2,986,569,860.16, primarily due to non-public stock issuance in the prior year[18] - The net increase in cash and cash equivalents was -$1.12 billion, compared to an increase of $2.83 billion previously[52] - The ending balance of cash and cash equivalents was $1.11 billion, down from $3.06 billion in the previous period[52] Investments and Expenditures - The construction in progress increased by 217.53% to ¥118,127,433.34, driven by investments in digital marketing and social e-commerce projects[15] - R&D expenses increased by 37.46% to ¥55,369,474.24, driven by the addition of personnel to enhance competitive advantages in new business platforms[18] - Investment activities resulted in a cash outflow of ¥678,772,924.45 for fixed assets, a notable increase from ¥36,501,641.77 in the previous period[49] - Total cash outflow from investing activities was $844.15 million, compared to $97.07 million in the previous period[52] Shareholder Activities - The company has repurchased a total of 3,620,000 shares, accounting for 0.40% of the total share capital, with a total expenditure of 49,928,707 RMB[29] - The first unlock period of the stock incentive plan allowed 2,562,856 restricted shares to be released on July 13, 2022, with 78,480 shares repurchased at a price of 9.11 RMB per share[30] - The largest shareholder, Yunnan Zhaolong Enterprise Management Co., Ltd., reduced its holdings by 3,000,000 shares, representing 0.33% of the total share capital, leaving it with 85,137,541 shares or 9.34%[31] Other Information - The company is in the process of transferring 100% equity of Foshan Saturday Shoes Co., Ltd., with an adjusted listing price of ¥481,603,680.00 after the first attempt did not attract any buyers[28] - The report for the third quarter was not audited[53]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,801,632,753.58, representing a 77.09% increase compared to ¥1,017,331,955.85 in the same period last year[26]. - The net profit attributable to shareholders was ¥110,870,964.87, a significant turnaround from a loss of ¥59,147,739.45 in the previous year, marking a 287.45% increase[26]. - The net profit after deducting non-recurring gains and losses was ¥103,361,228.05, compared to a loss of ¥72,553,566.73 last year, reflecting a 242.46% improvement[26]. - The net cash flow from operating activities was ¥5,528,103.91, a recovery from a negative cash flow of ¥52,856,140.89 in the same period last year, indicating a 110.46% increase[26]. - Basic earnings per share rose to ¥0.1219 from a loss of ¥0.0795, representing a 253.33% increase[26]. - Total assets at the end of the reporting period were ¥7,281,203,167.00, up 3.11% from ¥7,061,928,890.01 at the end of the previous year[26]. - The net assets attributable to shareholders increased slightly by 0.44%, reaching ¥5,592,515,856.38 compared to ¥5,568,212,115.15 at the end of the previous year[26]. - The weighted average return on net assets improved to 1.97% from -1.76% in the previous year, an increase of 3.73 percentage points[26]. - The company reported a government subsidy of ¥14,972,277.04 during the period, contributing positively to its financial performance[29]. Business Segments and Operations - The company operates in two main business segments: information technology services focused on mobile internet precision marketing and the sale of multi-brand mid-to-high-end fashion footwear[35]. - The mobile internet business is primarily conducted through subsidiaries, with a focus on digital marketing services, including internet advertising and social e-commerce[36]. - The company has established a diverse brand portfolio, including "ST&SAT," "D:FUSE," and "SAFIYA," catering to consumer demand for fashionable products[36]. - The company has accumulated over 20,000 clients, including major brands like Tencent and Alibaba, enhancing its customer resource advantage[44]. - The company has developed a comprehensive social e-commerce operational system, leveraging big data for precise advertising and product sales[48]. - The marketing network covers all provinces in mainland China, creating a well-established sales network for the company's products[50]. - The company has a strong management team with extensive experience in the fashion consumer goods market, contributing to stable business growth[53]. - The company utilizes an OEM model for product production and has adopted an omnichannel marketing strategy to integrate online and offline sales[40]. - The company has actively engaged in the short video and live-streaming e-commerce sectors, positioning itself as a leading player in these areas[37]. - The company's "遥望云" live-streaming e-commerce platform enhances operational efficiency and data visualization, significantly improving marketing effectiveness[43]. Revenue Breakdown - The internet advertising sector generated ¥1,621,616,787.93, accounting for 90.01% of total revenue, with a year-on-year growth of 108.58%[68]. - Social e-commerce services contributed ¥1,222,879,971.07, representing 67.88% of total revenue, with a 96.67% increase from the previous year[68]. - The clothing and footwear sector saw a revenue decline of 24.42%, generating ¥175,963,064.98, which is only 9.77% of total revenue[64]. - Internet advertising agency revenue surged to ¥344,504,431.92, a 357.59% increase year-on-year, making up 19.12% of total revenue[68]. - The gross profit margin for the internet advertising sector was 22.03%, reflecting a slight increase of 1.56% compared to the previous year[68]. - The company is focusing on expanding its internet marketing business, particularly in social e-commerce, which has become a major growth driver[68]. Investment and Funding - The total investment during the reporting period was ¥83,892,000.00, representing a 54.89% increase compared to the same period last year[97]. - The total balance of raised funds in special accounts as of June 30, 2022, was RMB 836.12 million[107]. - The company has established special accounts for raised funds at multiple banks to ensure proper management and usage[104]. - The company has committed to a long-term promise regarding the authenticity and completeness of information disclosed during asset restructuring[153]. - The company has implemented strict approval procedures for the use of raised funds to protect investor interests[103]. Risks and Challenges - The company faces risks related to market competition, particularly in the footwear and internet marketing sectors, which may lead to a decline in market share and sales performance[125]. - The company has identified potential risks associated with goodwill and inventory impairment, which could adversely affect its financial performance if the operating conditions of acquired entities do not meet expectations[127]. - The company’s internet marketing sector is subject to evolving regulations, which could impact its operations and growth prospects[124]. - The company has reported a loss of 1,998,611.38 million CNY from its software information technology services segment, indicating challenges in this area[121]. Corporate Governance and Compliance - The company has established a comprehensive corporate governance structure and internal control system to ensure fair and transparent information disclosure to all shareholders[149]. - The company emphasizes employee rights and adheres to labor laws, focusing on employee health, safety, and satisfaction[149]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[148]. - The company received a warning letter for violating information disclosure regulations, indicating a need for improved compliance measures[198]. Future Outlook - The company anticipates a revenue growth forecast of 10% for the second half of 2022, driven by new product launches and market expansion strategies[183]. - Research and development efforts have led to the introduction of two new product lines, expected to contribute an additional 5 million in revenue by the end of 2022[182]. - A new marketing strategy has been implemented, aiming to increase brand awareness by 30% over the next year[182].

Financial Performance - The company's revenue for Q1 2022 reached ¥803,059,472.48, representing a 60.04% increase compared to ¥501,802,372.56 in the same period last year[3] - Net profit attributable to shareholders was ¥86,689,236.13, a significant increase of 824.00% from ¥9,381,919.75 year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥81,641,565.95, up 1,006.89% from ¥7,375,751.87 in the previous year[3] - Basic earnings per share increased to ¥0.0953, reflecting a growth of 656.35% from ¥0.0126 in the same quarter last year[3] - Net profit for the current period was ¥90,753,118.82, a substantial rise from ¥10,572,381.84 in the previous period, reflecting an increase of approximately 760.5%[29] - The net profit attributable to the parent company's shareholders was ¥86,689,236.13, compared to ¥9,381,919.75 in the prior period, marking an increase of around 922.5%[32] - The total comprehensive income for the current period was ¥91,552,413.30, up from ¥10,550,955.69 in the previous period, reflecting a growth of approximately 767.5%[32] Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥22,817,008.03, a decline of 380.05% compared to a net inflow of ¥8,147,542.35 last year[3] - Cash inflow from operating activities totaled approximately $899.01 million, an increase of 50.5% compared to $596.97 million in the previous period[37] - Cash outflow from operating activities amounted to approximately $921.83 million, up from $588.82 million, resulting in a net cash flow from operating activities of -$22.82 million, compared to $8.15 million previously[37] - Cash inflow from investment activities was approximately $264.64 thousand, a decrease from $1.50 million in the prior period, leading to a net cash flow from investment activities of -$409.53 million, compared to -$50.23 million previously[40] - Cash inflow from financing activities was approximately $189.46 million, down from $283.20 million, resulting in a net cash flow from financing activities of -$20.26 million, compared to $96.38 million previously[40] - The ending cash and cash equivalents balance was approximately $1.79 billion, a decrease from $278.46 million at the end of the previous period[40] Assets and Liabilities - The total assets at the end of the reporting period were ¥7,179,455,551.61, a 1.66% increase from ¥7,061,928,890.01 at the end of the previous year[3] - Total liabilities amounted to ¥1,468,697,815.81, slightly up from ¥1,465,496,749.13 in the previous period[29] - The company's equity attributable to shareholders increased to ¥5,675,993,300.56, a rise of 1.94% from ¥5,568,212,115.15 at the end of the previous year[3] - The total equity attributable to the parent company's shareholders was ¥5,675,993,300.56, compared to ¥5,568,212,115.15 in the prior period, showing an increase of about 1.9%[29] Expenses - The company's R&D expenses rose to ¥20,456,530.42, marking a 113.75% increase from ¥9,570,311.08, driven by investments in new business platforms[6] - The company’s management expenses increased by 45.92% to ¥63,391,982.85, attributed to business growth and increased personnel costs[6] - Total operating costs amounted to ¥715,078,886.61, compared to ¥481,374,881.49 in the prior period, indicating an increase of about 48.5%[29] - The company reported a decrease in financial expenses to ¥5,320,302.55 from ¥17,196,480.50, a reduction of about 69.0%[29] Operational Metrics - The company reported a significant increase in other income, amounting to ¥6,601,109.61, which is a 157.24% rise from ¥2,566,141.11 due to business growth[10] - Cash received from sales of goods and services was approximately $798.21 million, compared to $584.63 million in the previous period, indicating strong sales growth[37] - Cash paid to employees increased to approximately $98.88 million from $62.97 million, reflecting higher personnel costs[37] - Cash paid for taxes rose to approximately $44.05 million from $9.62 million, indicating increased tax obligations[37] - Cash paid for other operating activities surged to approximately $175.03 million from $65.67 million, highlighting increased operational expenditures[37] Shareholder Actions - The company plans to repurchase shares with a total amount not less than RMB 150 million and not exceeding RMB 300 million, with a maximum price of RMB 25.00 per share[16] - The company intends to transfer 100% equity of its wholly-owned subsidiary, aiming to focus on brand management and supply chain management[19] - The company completed the cancellation of 822,960 stock options and 91,440 restricted stocks due to the departure of 23 incentive objects[16] - The company issued 166,037,692 shares to seven specific investors, which were released for trading on April 19, 2022[19] Accounts Receivable and Inventory - Accounts receivable increased from RMB 1,082,804,392.83 to RMB 1,177,149,273.85, representing a growth of about 8.8%[20] - Inventory rose from RMB 799,936,245.83 to RMB 876,732,339.39, indicating an increase of approximately 9.6%[20] - Non-current assets increased from RMB 2,480,817,336.57 to RMB 2,887,767,791.69, a rise of approximately 16.4%[23]

Financial Performance - The company's revenue for Q1 2022 reached ¥803,059,472.48, representing a 60.04% increase compared to ¥501,802,372.56 in the same period last year[3]. - Net profit attributable to shareholders was ¥86,689,236.13, a significant increase of 824.00% from ¥9,381,919.75 year-on-year[3]. - The net profit after deducting non-recurring gains and losses was ¥81,641,565.95, reflecting a 1,006.89% increase from ¥7,375,751.87 in the previous year[3]. - Basic and diluted earnings per share were both ¥0.0953, up 656.35% from ¥0.0126 year-on-year[3]. - Net profit for the current period was ¥90,753,118.82, compared to ¥10,572,381.84 in the previous period, representing an increase of 760.5%[34]. - Earnings attributable to the parent company's shareholders were ¥86,689,236.13, a substantial rise from ¥9,381,919.75, marking an increase of 922.5%[37]. - Other comprehensive income after tax was ¥799,294.48, compared to a loss of ¥21,426.15 in the previous period[37]. - The company reported a total comprehensive income of ¥91,552,413.30, significantly higher than ¥10,550,955.69 from the previous period[37]. Assets and Liabilities - The company's total assets increased by 27.06% to ¥7,179,455,551.61 from ¥5,650,422,792.40 at the end of the previous year[3]. - The total current liabilities slightly increased to RMB 1,385,126,915.76 from RMB 1,380,165,420.28, a marginal rise of about 0.07%[28]. - Total liabilities stood at ¥1,468,697,815.81, slightly up from ¥1,465,496,749.13[34]. - The company's non-current assets increased to RMB 2,887,767,791.69 from RMB 2,480,817,336.57, showing a growth of approximately 16.38%[24]. - Total equity increased to ¥5,710,757,735.80 from ¥5,596,432,140.88, showing a growth of 2.0%[34]. Cash Flow - The company reported a negative cash flow from operating activities of ¥22,817,008.03, a decline of 380.05% compared to a positive cash flow of ¥8,147,542.35 in the same period last year[3]. - The cash inflow from operating activities totaled approximately $899.01 million, an increase of 50.5% compared to $596.97 million in the previous period[42]. - The net cash outflow from operating activities was approximately -$22.82 million, a decline from a net inflow of $8.15 million in the previous period[42]. - Cash outflow from investment activities amounted to approximately $409.79 million, significantly higher than $51.73 million in the previous period[45]. - The net cash flow from financing activities was approximately -$20.26 million, compared to a net inflow of $96.38 million in the previous period[45]. - The total cash and cash equivalents at the end of the period were approximately $1.79 billion, down from $278.46 million in the previous period[45]. Operating Performance - The company experienced a 60.04% increase in operating income, primarily due to growth in the social e-commerce business[7]. - Total operating revenue for the current period reached ¥803,059,472.48, a significant increase of 59.9% compared to ¥501,802,372.56 in the previous period[31]. - Total operating costs amounted to ¥715,078,886.61, up from ¥481,374,881.49, reflecting a 48.5% increase[34]. - Research and development expenses increased by 113.75% to ¥20,456,530.42, driven by investments in new business platforms[7]. - Research and development expenses increased to ¥20,456,530.42 from ¥9,570,311.08, reflecting a growth of 113.5%[34]. Shareholder Actions - The company plans to repurchase shares with a total amount not less than RMB 15,000 million and not exceeding RMB 30,000 million, with a maximum price of RMB 25.00 per share[17]. - The company intends to transfer 100% equity of its wholly-owned subsidiary, aiming to focus on brand management and supply chain management[20]. - The company completed the cancellation of 82,296 stock options and 91,440 restricted stocks due to the departure of 23 incentive objects[17]. - The company issued 166,037,692 shares through a private placement, which were released for trading on April 19, 2022[20]. Financial Management - Financial expenses decreased by 69.06% to ¥5,320,302.55, attributed to a reduction in loan principal leading to lower interest expenses[11]. - The company's cash and cash equivalents decreased to RMB 1,793,505,641.10 from RMB 2,245,945,447.61, a decline of about 20.14%[21]. - Accounts receivable rose to RMB 1,177,149,273.85 from RMB 1,082,804,392.83, indicating an increase of approximately 8.74%[21]. - Inventory increased to RMB 876,732,339.39 from RMB 799,936,245.83, representing a growth of around 9.59%[21].

Financial Performance - The company's operating revenue for 2021 was ¥2,811,191,864.48, representing a 30.70% increase compared to ¥2,150,943,768.24 in 2020[25]. - The net profit attributable to shareholders for 2021 was -¥699,994,898.45, a significant decrease of 2,980.90% from ¥24,297,784.93 in 2020[25]. - The net cash flow from operating activities improved to ¥223,261,840.49 in 2021, a 3,028.60% increase from -¥7,623,509.82 in 2020[25]. - Total assets at the end of 2021 reached ¥7,061,928,890.01, up 30.71% from ¥5,402,541,618.64 at the end of 2020[25]. - The net assets attributable to shareholders increased by 67.40% to ¥5,568,212,115.15 in 2021 from ¥3,326,364,598.70 in 2020[25]. - The basic earnings per share for 2021 was -¥0.90, a decline of 3,100.00% compared to ¥0.03 in 2020[25]. - The diluted earnings per share also stood at -¥0.90 for 2021, reflecting the same percentage decrease as the basic earnings per share[25]. - The weighted average return on equity was -18.72% in 2021, down 19.45% from 0.73% in 2020[25]. Revenue Segmentation - The footwear segment generated revenue of ¥537,624,017.79, accounting for 19.12% of total revenue, which is a decline of 16.99% from the previous year's ¥647,646,363.72[96]. - The internet advertising segment saw significant growth, with revenue of ¥2,266,399,452.12, up 52.48% from ¥1,486,329,657.58 in the previous year, representing 80.62% of total revenue[96]. - The social e-commerce service segment generated revenue of ¥1,724,050,357.28, which is 61.33% of total revenue and reflects a year-on-year growth of 70.35%[100]. - The internet advertising agency revenue increased by 251.67% to ¥379,162,385.82, compared to ¥107,818,103.80 in the previous year, making up 13.49% of total revenue[100]. Market Trends and Industry Insights - The internet marketing industry is experiencing rapid growth, with a focus on advanced marketing technologies and increased competition among service providers[39]. - The mobile short video sector is leveraging user engagement to drive brand connections and enhance commercial monetization opportunities[41]. - The live e-commerce industry is expected to grow significantly, supported by 5G technology and changing consumer behavior towards more personalized shopping experiences[42]. - The fashion footwear market is facing high competition and product homogeneity, with a shift towards high-end and differentiated products driven by changing consumer preferences[45]. - Shopping centers are emerging as a key retail channel, outpacing traditional department stores due to their multifunctional offerings[46]. Strategic Initiatives and Future Outlook - The company plans not to distribute cash dividends or issue bonus shares for the year[6]. - The management highlighted potential risks and countermeasures in the future outlook section of the report[5]. - The company is focusing on digital marketing and precision marketing to enhance user experience and product quality, shifting from a "channel-driven" to a "user-driven" approach[47]. - The company is actively expanding its social e-commerce services and leveraging its subsidiary's internet traffic resources to accelerate strategic transformation[51]. - The company is committed to enhancing its internet marketing capabilities through a comprehensive integration of online and offline sales channels[60]. Operational Challenges and Responses - The company faced significant challenges due to the COVID-19 pandemic, leading to a substantial impact on offline sales and inventory management[76]. - The company reported a provision for bad debts and inventory impairment of approximately 315 million yuan due to reduced selling prices and increased discount rates[76]. - The company has not reported any discrepancies between financial reports under international accounting standards and Chinese accounting standards[29]. Research and Development - The company increased its R&D team to over 100 members, with R&D expenses expected to grow by over 90% compared to 2020[87]. - The company has filed 20 invention patents, with 1 granted and 14 under substantive examination[87]. - R&D investment increased by 62.56% to ¥68,691,728.51 in 2021 from ¥42,255,708.95 in 2020, representing 2.44% of total revenue[136]. Fundraising and Financial Management - The company reported a total of ¥2,972,074,686.80 raised from issuing shares, with a net amount of ¥2,920,820,799.77 after deducting issuance costs[155]. - The company has established special accounts for the management of raised funds, ensuring strict approval procedures for their use[155]. - The company has temporarily supplemented working capital with idle raised funds amounting to RMB 560,000,000[159]. Digital Transformation and Innovation - The company launched its first digital virtual human, "孔襄," showcasing advancements in AI and digital marketing[88]. - The company is building a decentralized platform leveraging AI and big data to connect merchants and streamers, enhancing inventory management and quality control[196]. - The company aims to enhance its internet marketing capabilities and expand its social e-commerce services to become a leading industry player[185].

Financial Performance - The company's revenue for Q3 2021 reached ¥654,116,025.91, representing a year-over-year increase of 32.93%[4] - The net profit attributable to shareholders was a loss of ¥86,825,229.06, a significant decline of 817.83% compared to the same period last year[4] - The basic earnings per share (EPS) was -¥0.0954, reflecting a decrease of 645.31% year-over-year[4] - Total operating revenue for the third quarter reached ¥1,671,447,981.76, an increase of 18.7% compared to ¥1,407,201,162.67 in the same period last year[31] - The net loss for the quarter was ¥144,671,034.84, compared to a net loss of ¥118,092,996.85 in the previous year, indicating a worsening financial performance[36] - The company reported a total comprehensive loss of ¥144,630,587.61 for the quarter, compared to a loss of ¥118,009,136.82 in the previous year[36] - Basic and diluted earnings per share were both reported at -0.1604, compared to -0.1535 in the same quarter last year, indicating a decline in profitability[36] Assets and Liabilities - Total assets increased by 56.88% year-over-year, amounting to ¥8,475,431,491.82[6] - As of September 30, 2021, the total current assets amounted to RMB 5,957,128,904.92, a significant increase from RMB 2,968,190,171.58 at the end of 2020[24] - The total assets of the company as of September 30, 2021, were RMB 8,475,431,491.82, up from RMB 5,402,541,618.64 at the end of 2020[27] - The company's total liabilities increased to ¥2,311,411,478.62 from ¥2,036,794,868.49, showing a growth of approximately 13.5%[30] - The company's inventory stood at ¥1,281,438,270.21, remaining stable compared to the previous period[46] - Total liabilities amounted to approximately ¥2,036.79 million, a decrease of ¥116.38 million compared to the previous period[50] - Current liabilities totaled ¥2,005.74 million, reflecting a decrease of ¥26.96 million from the prior period[50] - Non-current liabilities were reported at ¥31.06 million, down from ¥120.47 million, indicating a significant reduction of ¥89.42 million[50] Cash Flow - The company's cash and cash equivalents rose dramatically by 1212.73%, totaling ¥3,077,846,847.90, primarily due to funds raised from a private placement[8] - The net cash flow from financing activities surged by 1179.82% to ¥2,986,569,860.16, attributed to the private placement of shares[12] - The company reported a net cash increase of ¥2,830,948,553.00, a remarkable rise of 5448.90% compared to the previous year[12] - Cash inflow from operating activities totaled ¥1,960,963,352.41, an increase from ¥1,674,225,013.76 in the previous period, representing a growth of approximately 17.1%[41] - Cash outflow from operating activities was ¥2,023,692,086.39, compared to ¥1,726,053,733.36 in the prior period, indicating an increase of about 17.2%[41] - Net cash flow from operating activities decreased to -¥62,728,733.98 from -¥51,828,719.60, reflecting a decline of approximately 21.1%[41] - Cash inflow from investment activities was ¥4,178,934.96, significantly lower than ¥64,722,031.84 in the previous period, marking a decrease of about 93.5%[41] - Cash outflow from investment activities amounted to ¥97,070,363.69, down from ¥298,959,297.27, a reduction of approximately 67.6%[42] - Total cash and cash equivalents at the end of the period reached ¥3,055,410,435.20, up from ¥158,914,379.50, indicating a significant increase[42] Shareholder Information - The top shareholder, Yunnan Zhaolong Enterprise Management Co., Ltd., holds 11.85% of the shares, amounting to 88,137,541 shares[22] - The company has a total of 26,079 common shareholders as of the report date[22] - The total equity attributable to shareholders reached ¥3,326.36 million, remaining stable compared to the previous period[53] - The company has not undergone an audit for the third quarter report, which may affect the reliability of the financial data presented[53] Research and Development - Research and development expenses increased by 42.74% to ¥40,279,244.06, indicating a commitment to innovation[12] - Research and development expenses for the quarter were ¥40,279,244.06, compared to ¥28,218,717.93, marking a 42.7% increase, highlighting a focus on innovation[34] Corporate Actions - The company has canceled its wholly-owned subsidiaries, Hangzhou Jiayi Commercial Co., Ltd. and Tianjin Saturday Footwear Co., Ltd.[23] - The company plans to continue expanding its social e-commerce business, which has led to increased prepayments to suppliers[8] - The company successfully completed a private placement of 166,037,692 shares at a price of RMB 17.90 per share, raising a total of RMB 2,972,074,686.80, with a net amount of RMB 2,920,820,799.77 after expenses[23] - The increase in capital reserve to ¥5,115,381,899.58 from ¥2,276,897,560.08 indicates a strengthening of the company's financial position[30] - The company has implemented new leasing standards starting from 2021, which may impact future financial reporting[53]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,017,331,955.85, representing an increase of 11.17% compared to ¥915,110,297.56 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was -¥59,147,739.45, an improvement of 43.07% from -¥103,899,863.66 year-on-year[27]. - The net cash flow from operating activities was -¥52,856,140.89, showing a 48.94% increase compared to -¥103,512,100.55 in the previous year[27]. - Total assets at the end of the reporting period were ¥5,547,336,761.29, up 2.68% from ¥5,402,541,618.64 at the end of the previous year[27]. - The net assets attributable to shareholders of the listed company decreased by 1.20% to ¥3,286,518,546.22 from ¥3,326,364,598.70 at the end of the previous year[27]. - The basic and diluted earnings per share were both -¥0.0795, an improvement of 43.62% from -¥0.1410 in the same period last year[27]. - The weighted average return on net assets was -1.76%, an improvement of 1.39% from -3.15% year-on-year[27]. - The company achieved a revenue of 1.017 billion yuan, representing a year-on-year growth of 11.17%[43]. - The total profit amounted to -52.69 million yuan, an increase of 52.21% year-on-year[43]. - The net profit attributable to shareholders was -59.15 million yuan, showing a year-on-year increase of 43.07%[43]. Business Strategy and Operations - The company is focused on building a "fashion IP ecosystem" and transitioning to a new retail platform, with two main business segments: information technology services and multi-brand fashion footwear sales[36]. - The mobile internet business, primarily through acquisitions, includes digital marketing services and social e-commerce, leveraging partnerships to gather traffic resources[36]. - The company operates several self-owned brands in the fashion footwear sector, including "ST&SAT" and "D:FUSE," targeting high-end consumers with a diverse product range[36]. - The company is adapting to market changes by adjusting its business strategies and exploring new retail formats to meet diverse consumer needs[40]. - The company is focusing on transforming its business model towards a multi-brand and multi-category fashion industry, enhancing its brand influence and market position[43]. - The company has acquired two leading fashion media companies, enhancing its access to traffic and improving user engagement[43]. - The company is optimizing its supply chain and service standards, aiming for rapid delivery and improved customer service experience[43]. - The company plans to continue adjusting its footwear business strategy, focusing on brand management and supply chain services while reducing inventory levels[46]. Market Trends and Competition - The internet marketing industry is experiencing rapid growth, with increasing competition and a shift towards advanced marketing technologies[39]. - The fashion footwear market is seeing a shift from traditional retail channels to shopping centers, which are becoming key retail outlets due to their multifunctional nature[40]. - The competitive landscape in the fashion footwear industry is shifting towards a focus on product quality and user experience, moving away from channel dominance[40]. - The company has over 20 years of experience in the fashion women's shoe industry, establishing a strong brand reputation and comprehensive marketing network[42]. - The company’s social e-commerce business continued to grow rapidly, with a GMV of approximately 3.6 billion yuan in the first half of the year, a significant increase compared to the previous year[46]. Financial Management and Governance - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company has implemented a stock incentive plan, resulting in an expense of approximately 36.4 million yuan starting from Q1, impacting overall performance[43]. - The company has established a comprehensive corporate governance structure to protect the rights of shareholders and creditors, ensuring fair and transparent information disclosure[117]. - The company has committed to maintaining independent financial and operational structures, ensuring no conflicts of interest with controlling parties[121]. - The company has a robust internal control system to prevent credit risk and enhance its reputation for compliance and integrity[117]. Regulatory Compliance and Risks - The company faces various risks and has outlined measures to address them in the report[6]. - The company has implemented internal control systems to manage risks associated with internet marketing, including guidelines for network marketing, advertising, short video, and live streaming[100]. - The company is actively monitoring regulatory changes in the MCN industry to mitigate compliance risks associated with live streaming and short video content[100]. - The company received regulatory attention due to internal control irregularities and high goodwill impairment risk, resulting in a warning letter issued on February 24, 2021[158]. - The company has acknowledged the existence of violations and has taken steps to rectify them as per regulatory requirements[162]. Related Party Transactions - The company reported a total of 10,924.99 thousand CNY in related party transactions for services received, accounting for 3.06% of similar transaction amounts[165]. - The company engaged in related party transactions with Hangzhou Ga Yan Qi Duan Cultural Media Co., Ltd. for service acceptance, amounting to 58,002.61 thousand CNY[165]. - The company has been involved in related party transactions with Yunnan Zhaolong Enterprise Management Co., Ltd. and LYONE GROUP PTE.LTD., which were not disclosed in accordance with regulations[162]. - The company has provided guarantees totaling 40 million yuan for Hangzhou Yaowang Network Technology Co., Ltd. with a guarantee period until July 12, 2023[182]. - The company has provided guarantees totaling 70 million yuan for Hangzhou Yaowang Network Technology Co., Ltd. with a guarantee period until April 22, 2025[182]. Future Outlook - The company expects to maintain a growth rate of 20% in revenue for the second half of 2021, driven by new product launches and market expansion strategies[141]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[141]. - A strategic acquisition of a local competitor is anticipated to be finalized by Q4 2021, expected to enhance the company's market position[141]. - The company is expected to continue its growth trajectory with a focus on strategic partnerships and market penetration[171].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 738.49 million RMB for the year, marking a year-on-year growth of 15%[12]. - The net profit attributable to shareholders for 2020 was ¥24,297,784.93, a significant decrease of 83.85% from ¥150,456,832.74 in 2019[29]. - The total profit for the period was 47.76 million yuan, a decrease of 72.29% compared to the previous year[86]. - The company achieved a revenue of 2.151 billion yuan in 2020, representing a year-on-year growth of 3.89%[86]. - The company reported a net profit contribution of CNY 885,000 from the sale of a significant equity stake in Foshan Xingyi Technology R&D Co., Ltd., which accounted for 32.31% of the net profit[165]. - The parent company's undistributed profits at the end of 2020 amounted to -299.82 million yuan, indicating a negative retained earnings situation[199]. User Growth and Market Expansion - The user base expanded to 5 million active users, reflecting a growth rate of 20% compared to the previous year[12]. - Market expansion efforts include entering three new provinces, aiming for a 25% increase in market share in those regions[12]. - The company is actively developing an omnichannel sales model by integrating online platforms with offline stores[51]. - The company aims to enhance its supply chain collaboration in beauty and other advantageous categories, focusing on product co-development and expanding high-quality key account clients[177]. Strategic Initiatives - The company has set a performance guidance for the next fiscal year, projecting a revenue increase of 10% to 15%[12]. - New product launches are expected to contribute an additional 100 million RMB in revenue, with a focus on enhancing the e-commerce platform[12]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 200 million RMB earmarked for potential targets[12]. - The company plans to raise funds through a private placement for projects including the YOWANT digital marketing cloud platform and social e-commerce ecosystem[198]. Risks and Challenges - The company has identified risks related to market competition, particularly in the MCN sector, which is experiencing rapid growth and increased entrants[10]. - Financial risks include potential impairment of goodwill valued at 300 million RMB, contingent on the performance of acquired entities[11]. - The company recognizes the risk of talent loss in the internet sector, which could affect its technological capabilities and operational efficiency[185]. - The company faces risks related to industry policy changes that could impact the internet marketing sector[180]. Research and Development - The company is investing in technology development, allocating 30 million RMB towards R&D for new marketing tools and analytics[12]. - The company has developed a digital decision-making system based on big data for precise advertising and product sales[82]. - The company's research and development expenses decreased by 19.90% to ¥42,255,708.95[4]. E-commerce and Sales Channels - The live e-commerce sector is expected to see significant growth, driven by rising disposable incomes and the shift in consumer behavior towards more personalized shopping experiences[60]. - The company has established a live e-commerce industry base in Hangzhou, featuring over 100 live streaming rooms and more than 50 brand live streaming rooms[87]. - The company achieved approximately 1.65 billion yuan in GMV from live e-commerce in 2020, establishing a solid foundation for future growth[177]. - The company is focusing on developing its mobile internet marketing business, with rapid growth in social e-commerce services[86]. Operational Efficiency - The company’s cash flow from operating activities showed a significant discrepancy with net profit due to the pandemic's impact[145]. - The company’s total production capacity was reduced to 0, down from 1,575,000 in the previous year, following the divestment of a subsidiary[5]. - The company has established exclusive operating rights for several well-known domestic and international brands on designated platforms[96]. Marketing and Media Influence - The company has signed contracts with over 80 KOLs and collaborated with more than 4,500 influencers, enhancing its media influence[98]. - The OnlyLady platform has 55 million registered users across three platforms, while KIMISS has over 6.4 million followers across various platforms[97]. - The company plans to increase the number of signed influencers and KOLs by 50% in 2021 to enhance its media influence and marketing capabilities[178].

Financial Performance - The company's revenue for Q1 2021 was ¥501,802,372.56, representing a 49.25% increase compared to ¥336,222,507.19 in the same period last year[10]. - The net profit attributable to shareholders was ¥9,381,919.75, a significant recovery from a loss of ¥49,211,474.59 in the previous year[10]. - The net cash flow from operating activities was ¥8,147,542.35, improving from a negative cash flow of ¥47,014,047.81 in the same period last year[10]. - Basic and diluted earnings per share were both ¥0.0126, compared to a loss of ¥0.0666 per share in the previous year[10]. - Operating revenue rose by 49.24% to $501,802,372.56 compared to $336,236,434.51, mainly due to the gradual reduction of pandemic impacts and significant growth in internet marketing[26]. - Net profit increased by 120.93% to $10,572,381.84 from a net loss of $50,504,375.41, attributed to the recovery of business operations and increased profitability in internet marketing[29]. - Total profit rose by 134.11% to $17,452,822.12 from a loss of $51,169,546.10, driven by reduced pandemic effects and increased profitability in internet marketing[26]. - The company reported a significant increase in cash flow from financing activities, with cash received from borrowings rising by 77.37% to $203,970,000.00 from $115,000,000.00[29]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,650,422,792.40, an increase of 4.59% from ¥5,402,541,618.64 at the end of the previous year[10]. - The total liabilities stood at CNY 2,224,794,615.48, an increase from CNY 2,036,794,868.49, representing a growth of about 9.2%[133][135]. - The equity attributable to shareholders of the parent company was CNY 3,385,340,749.28, up from CNY 3,326,364,598.70, reflecting an increase of approximately 1.8%[136][135]. - The company's long-term equity investments increased to CNY 77,736,958.42 from CNY 67,665,979.22, showing a growth of approximately 14.5%[130][135]. - The total non-current assets reached CNY 2,537,731,240.93, an increase from CNY 2,434,351,447.06, indicating a growth of about 4.3%[129][135]. Shareholder Information - The total number of shareholders at the end of the reporting period was 36,574, with the top ten shareholders holding significant stakes[14]. - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[21]. - The company completed the transfer of 108,100 shares from 9 shareholders of Yaowang Network, increasing its ownership to 52,742,274 shares, representing 99.8315% of the total share capital[31]. - The company issued 738,487,091 new shares in January 2021, which were released from restrictions and became tradable[31]. Market and Growth Strategy - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2022[51]. - New product launches are anticipated to contribute an additional 200 million RMB in revenue by the end of Q2 2021[50]. - The management team has set a goal to achieve a net profit margin of 20% by the end of 2021[56]. - The company plans to acquire a local competitor, which is expected to enhance its market position and add 300 million RMB in annual revenue[53]. Compliance and Regulatory Matters - The company received a regulatory attention letter and warning letter from the Guangdong Securities Regulatory Bureau in February 2021, which prompted internal accountability measures and a corrective action report[31]. - The company has committed to not transferring benefits to other entities or individuals under unfair conditions as part of its asset restructuring commitments[39]. - The company is focused on ensuring the authenticity and completeness of its transaction application documents, taking legal responsibility for any misrepresentation[39]. - The management emphasized the importance of maintaining compliance and transparency in all financial disclosures, ensuring no significant legal issues are pending[91]. Research and Development - Research and development expenses increased by 30% to 150 million RMB, focusing on new technology innovations[52]. - Ongoing research and development efforts are focused on innovative technologies, with an investment of 3 million allocated for new tech initiatives in the upcoming fiscal year[95]. Cash Flow and Liquidity - Cash and cash equivalents increased by 1673.85% to $54,002,877.76 from a decrease of $3,431,268.11, indicating improved cash flow from operations[29]. - The balance of cash and cash equivalents at the end of the period increased by 33.61% to $278,464,759.96 from $208,408,918.23, reflecting improved operational performance[29]. - The ending cash balance increased to ¥278,464,759.96, compared to ¥208,408,918.23 in the previous period, marking a significant improvement in liquidity[169]. Future Outlook - The company expects a revenue growth of 10% for the next quarter, projecting a total revenue of 1.32 billion RMB[49]. - The company provided an optimistic outlook for the next quarter, projecting a revenue growth of 10% to 12% based on current market trends and user acquisition strategies[96]. - Overall, the company remains confident in its growth trajectory, supported by strong user engagement and a robust product pipeline[90].