Financial Performance - The company's operating revenue for 2021 was ¥976,530,286.21, representing a 28.92% increase compared to ¥757,452,458.07 in 2020[22]. - The net profit attributable to shareholders was a loss of ¥333,031,490.17, a decrease of 498.56% from a profit of ¥83,558,816.08 in 2020[22]. - The net cash flow from operating activities was a negative ¥102,871,360.85, down 208.02% from ¥95,229,376.68 in the previous year[22]. - The basic earnings per share were -¥2.53, a decline of 495.31% compared to ¥0.64 in 2020[22]. - Total assets at the end of 2021 were ¥1,742,981,353.38, a decrease of 11.94% from ¥1,979,325,898.27 at the end of 2020[22]. - The net assets attributable to shareholders decreased by 26.22% to ¥975,755,852.04 from ¥1,322,604,174.72 in 2020[22]. - The company reported a significant increase in rental income, with operating revenue after deductions amounting to ¥952,547,068.98 in 2021[23]. - The weighted average return on net assets was -28.93%, a decrease of 35.41 percentage points from 6.48% in 2020[22]. - The company recorded a non-operating loss of approximately -¥310.85 million in 2021, primarily due to the impairment of financial assets related to Evergrande[29]. Revenue and Growth - The company achieved a total revenue of CNY 976.53 million in 2021, representing a year-on-year growth of 28.92%[45]. - Retail To C business revenue grew by 50.27%, significantly contributing to the overall revenue increase[42]. - The company’s gross revenue from the East China region was CNY 257.92 million, accounting for 26.41% of total revenue, with a growth of 39.85% year-on-year[47]. - The company reported a revenue of 1.2 billion RMB for the fiscal year 2021, representing a year-over-year growth of 15%[107]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the year, representing a growth of 20% compared to the previous year[146]. - The company has set a revenue guidance of 1.5 billion RMB for the next fiscal year, projecting a growth rate of 25%[107]. Product Development and Innovation - The company has a total of 834 patents, emphasizing its commitment to innovation in the integrated ceiling industry[36]. - The company launched 48 new patents during the reporting period, including 27 utility model patents, enhancing its R&D capabilities[40]. - The company aims to enhance its product offerings by integrating smart technology into its ceiling solutions, aligning with consumer trends towards smart home features[35]. - The company is developing a smart home multi-terminal voice system based on IoT technology, aiming to enhance user interaction and improve market competitiveness[60]. - The company is focusing on integrating lighting, ventilation, heating, and music functions into a single appliance, enhancing the convenience and user experience in kitchen and bathroom spaces[60]. - New product development includes the introduction of a smart ceiling system, expected to contribute an additional 200 million CNY in revenue[152]. Market Position and Strategy - The integrated ceiling market is expanding beyond kitchens and bathrooms to include living rooms, bedrooms, and balconies, driven by consumer demand for aesthetic and functional solutions[34]. - The company is positioned to benefit from government initiatives aimed at urban renewal and the promotion of prefabricated buildings, which are expected to increase demand for integrated ceiling products[34]. - The company operates through both retail (TO C) and engineering (TO B) channels, catering to individual consumers and large-scale projects respectively[39]. - The company aims to expand its product service range from kitchen and bathroom spaces to living rooms, bedrooms, balconies, and public spaces like hotels and hospitals[85]. - The company plans to enhance product innovation and deepen user value, focusing on a boutique strategy for integrated ceiling products and expanding the functional background wall category[85]. Operational Efficiency and Costs - The company reported a total operating cost of approximately ¥704.74 million, reflecting a year-on-year increase of 35.92%[53]. - The company's gross profit margin for the industrial sector decreased by 4.84% to 26.02% compared to the previous year[49]. - The revenue from the gypsum module saw a significant decline of 53.77%, contributing only 0.21% to the total cost of sales[54]. - The company plans to enhance its supply chain efficiency, aiming for a 15% reduction in operational costs by the end of 2022[106]. Risks and Challenges - The real estate market's regulatory policies have led to a decline in transaction volumes, negatively impacting the demand for integrated ceiling products[88]. - The prices of key raw materials, aluminum and steel, are subject to significant fluctuations, which could adversely affect the company's gross margin and operating performance[88]. - The ongoing COVID-19 pandemic poses risks to the company's operations and financial status, depending on the severity of outbreaks and government responses[88]. - The company faces risks related to the management of distributors and specialty stores, which could affect performance if not properly managed[88]. Governance and Compliance - The company has established a robust governance structure, ensuring compliance with relevant laws and regulations, and maintaining independence from its controlling shareholders[94]. - The company operates independently in terms of assets, personnel, finance, organization, and business, ensuring no conflicts of interest with controlling shareholders[94]. - The company has maintained compliance with environmental regulations and did not face any administrative penalties during the reporting period[135]. - The company emphasizes the protection of shareholder rights, ensuring equal treatment and transparent communication with all investors[136]. Employee and Management Structure - The total number of employees at the end of the reporting period was 810, with 673 in the parent company and 137 in major subsidiaries[118]. - The company has established a scientific performance appraisal system based on excellence performance criteria, combining short-term, medium-term, and long-term compensation incentives[119]. - The company has not experienced any resignations or dismissals of directors, supervisors, or senior management during the reporting period[100]. - The company’s board includes experienced professionals with diverse backgrounds in management and legal affairs, enhancing its governance structure[101][102]. Shareholder Information - The company’s chairman, Shi Shenxiang, holds 47,096,691 shares, unchanged during the reporting period[99]. - Director Luo Lianqin increased her holdings from 39,065,640 to 40,585,502 shares, a rise of 3.9%[99]. - The total number of shares held by senior management at the end of the reporting period was 93,237,353, an increase of 6,464,915 shares[100]. - The company has not engaged in any repurchase transactions among the top ten shareholders during the reporting period[188]. Audit and Financial Reporting - The company received a standard unqualified audit opinion for its financial statements for the year ended December 31, 2021[199]. - The financial statements fairly present the company's financial position and operating results for the year 2021[199]. - The audit was conducted by Lixin Certified Public Accountants, with the report signed on April 27, 2022[199].

Financial Performance - The company's revenue for Q1 2022 was CNY 201,510,235.73, representing a 12.18% increase compared to CNY 179,638,638.27 in the same period last year[4] - Net profit attributable to shareholders was CNY 21,132,650.54, a significant increase of 115.05% from CNY 9,826,912.44 year-on-year[4] - Basic earnings per share rose to CNY 0.16, up 128.57% from CNY 0.07 in the same quarter last year[4] - The net profit for the first quarter of 2022 was CNY 20,000,288.08, a significant increase from CNY 8,156,527.07 in the same period last year, representing a growth of approximately 145.5%[21] - The total profit for the first quarter was CNY 23,588,580.35, compared to CNY 9,122,474.80 in the previous year, marking an increase of about 158.5%[21] - The company’s operating profit for the first quarter was CNY 23,481,835.35, compared to CNY 9,087,646.11 in the same period last year, indicating a growth of about 158.4%[21] Cash Flow - The net cash flow from operating activities improved to CNY 61,306,634.10, a 192.19% increase from a negative cash flow of CNY -66,499,351.74 in the previous year[4] - Cash flow from operating activities generated a net amount of CNY 61,306,634.10, a turnaround from a negative cash flow of CNY -66,499,351.74 in the previous year[24] - The company reported cash inflows from operating activities totaling CNY 262,129,188.44, compared to CNY 197,885,565.81 in the same period last year, indicating an increase of approximately 32.4%[23] - The cash flow from investing activities showed a net inflow of CNY 6,530,820.84, compared to a net outflow of CNY -26,587,682.41 in the previous year, demonstrating a significant improvement[24] - Cash flow from financing activities resulted in a net inflow of CNY 32,153,615.39, down from CNY 40,976,683.29 in the same quarter last year[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,801,128,384.49, reflecting a 3.34% increase from CNY 1,742,981,353.38 at the end of the previous year[4] - The total liabilities increased to RMB 812,831,477.32 from RMB 774,684,734.30, reflecting a rise of 4.9%[18] - The equity attributable to shareholders of the parent company was RMB 996,888,502.58, up from RMB 975,755,852.04, indicating a growth of 2.3%[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 8,757[12] Operating Costs and Expenses - The total operating costs for Q1 2022 were RMB 197,082,458.14, up from RMB 180,065,919.70 in the previous year, reflecting a growth of 9.5%[20] - The company experienced a 370.61% increase in financial expenses, totaling CNY 2,226,131.07, mainly due to increased interest expenses[10] - Research and development expenses for Q1 2022 were RMB 7,509,850.57, a decrease from RMB 8,275,706.29 in the same period last year, showing a reduction of 9.2%[20] Other Financial Metrics - The weighted average return on equity increased to 2.14%, up 1.40 percentage points from 0.74% in the previous year[4] - The company reported non-recurring gains of CNY 18,431,268.55, primarily from the disposal of equity interests in joint ventures[6] - Cash and cash equivalents increased by 56.01% to CNY 298,464,522.06, attributed to improved cash flow from operations[9] - Cash and cash equivalents at the end of Q1 2022 amounted to RMB 298,464,522.06, an increase of 55.9% from RMB 191,305,251.62 at the beginning of the year[16] - Accounts receivable decreased to RMB 208,673,766.58 from RMB 236,142,638.30, a reduction of 11.7%[16] - Inventory levels decreased to RMB 120,303,669.90 from RMB 141,936,459.12, a decline of 15.3%[17]

Financial Performance - Revenue for Q3 2021 reached ¥254,214,775.30, an increase of 16.72% year-over-year, while total revenue for the year-to-date period was ¥707,772,397.82, up 42.10% compared to the same period last year[2] - Net profit attributable to shareholders decreased by 85.68% in Q3 2021 to ¥6,260,006.47, and year-to-date net profit was ¥32,406,450.57, down 46.66%[2] - Basic earnings per share for Q3 2021 was ¥0.05, representing an 84.85% decline compared to the same period last year, while year-to-date basic earnings per share was ¥0.25, down 45.65%[2] - The net profit for the third quarter of 2021 was CNY 28,640,420.73, a decrease of 49.1% compared to CNY 56,236,795.57 in the same period last year[19] - Operating profit for the third quarter was CNY 31,905,855.07, down 47.9% from CNY 61,257,025.09 in the same quarter of the previous year[19] Assets and Liabilities - Total assets as of the end of Q3 2021 were ¥2,078,750,555.24, a 5.02% increase from the end of the previous year[2] - Total liabilities increased to CNY 745,876,704.45 from CNY 653,662,850.43, representing a growth of 14.1%[16] - The total equity attributable to shareholders was ¥1,337,631,007.52, a slight increase of 1.14% from the previous year-end[2] Cash Flow - Cash flow from operating activities showed a net outflow of ¥123,811,686.67, a significant decrease of 733.57% compared to the previous year[8] - The cash flow from operating activities showed a net outflow of CNY 123,811,686.67, contrasting with a net inflow of CNY 19,541,815.76 in the previous year[24] - The total cash and cash equivalents at the end of the period were CNY 103,129,316.51, down from CNY 156,787,995.63 at the end of the same period last year[24] Operating Costs and Expenses - The company reported a 49.63% increase in operating costs, totaling ¥517,245,709.49, primarily due to growth in sales volume[8] - The total operating costs amounted to CNY 683,759,775.37, up 42.5% from CNY 479,737,321.18 in the prior period[18] - Research and development expenses increased by 53.35% year-over-year to ¥27,423,233.02, reflecting increased investment in R&D projects[8] - Research and development expenses increased to CNY 27,423,233.02, up 53.3% from CNY 17,883,130.02 in the previous year[19] Market and Growth Strategies - Future outlook includes a projected revenue growth of 10% for Q4 2021, driven by increased demand in the home improvement sector[27] - The company plans to launch two new product lines in Q4 2021, focusing on eco-friendly materials and smart home integration[27] - Market expansion strategies include entering three new provinces in China, aiming to increase market share by 5%[27] - The company is exploring potential acquisitions to enhance its product portfolio and distribution network[27] Customer and Sales Performance - User data indicated a growth in active customers by 20%, totaling 1.2 million users by the end of Q3 2021[27] - The company reported a 30% increase in online sales channels, reflecting a shift in consumer purchasing behavior[27] - Total revenue from sales of goods and services reached CNY 698,157,058.50, compared to CNY 479,188,493.33 in the same period last year, reflecting a growth of 45.7%[22] Financial Health and Investment - The company incurred a financial expense of CNY 1,944,088.69, significantly lower than CNY 7,803,431.30 in the previous year[19] - Investment activities resulted in a net cash outflow of CNY 9,261,913.49, compared to a net inflow of CNY 25,883,821.48 in the same period last year[24] - Research and development investment increased by 25% in 2021, focusing on innovative ceiling solutions[27] Sustainability and Innovation - Overall, the management emphasized a commitment to sustainability and innovation as key drivers for future growth[27] - The company achieved a net profit margin of 12%, reflecting a stable performance amidst market fluctuations[27]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥453,557,622.52, representing a 61.82% increase compared to ¥280,290,919.97 in the same period last year[21]. - The net profit attributable to shareholders was ¥26,146,444.10, up 53.62% from ¥17,020,279.37 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥16,853,624.52, reflecting a 71.35% increase from ¥9,835,628.88 in the previous year[21]. - The basic earnings per share increased to ¥0.20, a rise of 53.85% compared to ¥0.13 in the same period last year[21]. - The total revenue from the main business was ¥445,652,173.14, accounting for 98.26% of total revenue, with a year-on-year increase of 60.57%[43]. - The company achieved a revenue of 454 million yuan in the first half of 2021, representing a year-on-year growth of 61.82%[30]. - The net profit attributable to shareholders reached 26.15 million yuan, an increase of 53.62% compared to the same period last year[30]. - The company reported a significant increase in financing activities, with net cash flow from financing activities reaching ¥100,973,066.17, a 412.24% increase from -¥32,337,860.09 in the previous year[41]. - The total comprehensive income for the first half of 2021 was CNY 39,809,158.09, compared to CNY 23,553,098.57 in the same period of 2020, representing a significant increase[138]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,075,537,295.59, which is a 4.86% increase from ¥1,979,325,898.27 at the end of the previous year[21]. - The company's total liabilities increased to CNY 730,806,312.63 from CNY 653,662,850.43, which is an increase of about 11.8%[126]. - The company's short-term borrowings increased significantly to CNY 227,702,271.52 from CNY 133,000,930.05, a rise of about 71.3%[126]. - The total liabilities of the company were reported at CNY 5,485.00 million, indicating a manageable debt level[156]. - The company's equity attributable to shareholders increased to CNY 1,348,459,218.82 from CNY 1,322,604,174.72, reflecting a growth of approximately 1.9%[127]. Cash Flow - The company reported a significant decline in net cash flow from operating activities, which was -¥138,880,512.86, compared to -¥16,052,403.50 in the same period last year, marking a decrease of 765.17%[21]. - Cash inflows from operating activities amounted to CNY 433,716,245.95, up from CNY 264,691,967.03 in the first half of 2020, indicating a growth of approximately 63.9%[141]. - The ending cash and cash equivalents balance was CNY 94,192,465.79, down from CNY 130,887,253.94 at the end of the previous year, indicating liquidity challenges[142]. - The company's cash and cash equivalents decreased to CNY 161,174,177.68 from CNY 221,302,441.82, a decline of approximately 27.2%[124]. Research and Development - The company holds a total of 951 valid patents, including 16 invention patents, showcasing its strong R&D capabilities[37]. - Research and development expenses rose by 57.13% to ¥17,441,048.76 from ¥11,099,568.24, attributed to an increase in R&D projects and funding expenditures[41]. - Research and development expenses for the first half of 2021 were ¥17,441,048.76, an increase of 57.0% from ¥11,099,568.24 in the first half of 2020[133]. Market Position and Strategy - Retail business revenue grew by 82.19% year-on-year, reflecting a successful transformation strategy[30]. - The company has established strategic partnerships with over 60 large real estate companies, enhancing its market position[38]. - The company has been recognized as a preferred brand among the top 500 real estate companies in China, highlighting its strong brand influence[38]. - The company plans to expand its product categories and enhance core competitiveness to mitigate seasonal business fluctuations[62]. - The company aims to enhance its operational efficiency through technological advancements and strategic partnerships[148]. Risks and Challenges - The company faces risks related to macroeconomic controls in the real estate industry, which could impact demand for integrated ceiling products[61]. - The company is exposed to risks from fluctuations in raw material prices, particularly aluminum and steel, which could affect profit margins[62]. - The company reported a significant increase in operational challenges reflected in the net cash flow from operating activities[141]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 7,256[110]. - The largest shareholder, Shi Shenxiang, holds 35.83% of the shares, totaling 47,096,691 shares[110]. - The second-largest shareholder, Luo Lianqin, holds 29.72% of the shares, totaling 39,065,640 shares[110]. - The company did not engage in any repurchase transactions during the reporting period[112]. Corporate Governance - The financial report was approved by the board of directors on August 30, 2021[162]. - The company has made commitments to reduce and regulate related party transactions[81]. - The company has confirmed that all commitments made by its actual controllers and senior management have been fulfilled[81]. Compliance and Reporting - The semi-annual financial report was not audited[84]. - The company has not disclosed any other necessary information as required by regulatory authorities[107]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status and operating results[167].

Financial Performance - The company's operating revenue for Q1 2021 was ¥179,638,638.27, representing a 198.21% increase compared to ¥60,239,798.19 in the same period last year[8] - The net profit attributable to shareholders was ¥9,826,912.44, a significant turnaround from a loss of ¥20,759,975.26 in the previous year, marking a 147.34% improvement[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,147,811.77, compared to a loss of ¥23,527,888.99 last year, reflecting a 104.88% increase[8] - The basic earnings per share increased to ¥0.07 from a loss of ¥0.16, showing a 143.75% improvement[8] - The weighted average return on equity rose to 0.74%, up from -1.66% in the previous year, indicating a 2.40% increase[8] - Total revenue for the reporting period reached ¥179,638,638.27, a significant increase of 198.21% compared to ¥60,239,798.19 in the same period last year, primarily due to expanded sales channels and increased orders[17] - Operating costs rose to ¥130,322,083.03, reflecting a 186.07% increase from ¥45,555,688.82, driven by the same factors as revenue growth[17] - The operating profit for the quarter was CNY 22,843,134.11, a significant improvement from a loss of CNY 17,211,256.47 in the same period last year[44] - The net profit for the quarter reached CNY 20,553,845.72, compared to a net loss of CNY 17,836,706.77 in the previous year[44] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,970,134,135.49, a slight decrease of 0.46% from ¥1,979,325,898.27 at the end of the previous year[8] - The net assets attributable to shareholders increased to ¥1,332,139,687.16, up 0.72% from ¥1,322,604,174.72 at the end of the previous year[8] - The total liabilities decreased, with accounts payable dropping by 41.59% to ¥96,572,928.46 from ¥165,336,545.58, as a result of settling prior payables[16] - The total assets amounted to CNY 1,990,313,012.35 as of March 31, 2021, an increase from CNY 1,971,222,798.41 at the end of 2020[36] - The total liabilities were CNY 611,760,524.22, slightly decreased from CNY 613,224,156.00 in the previous period[36] - The owner's equity totaled CNY 1,378,552,488.13, up from CNY 1,357,998,642.41 at the end of 2020[36] Cash Flow - The net cash flow from operating activities improved to -¥66,499,351.74, a 21.25% reduction in loss compared to -¥84,445,730.01 in the same period last year[8] - Cash flow from operating activities improved to -¥66,499,351.74, a 21.25% reduction in losses compared to -¥84,445,730.01 in the previous year, attributed to increased sales and collections[18] - The company generated cash flow from operating activities of CNY 193,291,194.16, a substantial increase from CNY 54,470,440.17 in the previous period[47] - The total cash inflow from operating activities was 197,885,565.81 CNY, while cash outflow was 264,384,917.55 CNY, resulting in a net cash flow deficit[48] - The company reported a total cash outflow of 256,859,464.80 CNY from operating activities, which is significantly higher than the previous period's 144,884,219.11 CNY[51] Investments and Expenses - Research and development expenses increased by 54.61% to ¥8,275,706.29 from ¥5,352,495.53, indicating a focus on enhancing R&D projects[17] - Long-term equity investments rose by 60.87% to ¥77,449,990.43 from ¥48,143,604.73, primarily due to contributions in the form of land and buildings to establish joint ventures[16] - The company reported a significant decrease in investment income, which fell by 104.03% to -¥67,441.10 from ¥1,674,691.90, due to reduced returns from bank wealth management products[17] - The investment income reported was a loss of CNY 70,525.80, compared to a gain of CNY 1,674,691.90 in the previous year[44] - The company received 20,000,000.00 CNY from investment recoveries, a decrease from 151,760,000.00 CNY in the previous period[52] Shareholder Information - The total number of shareholders at the end of the reporting period was 6,806, with the top ten shareholders holding significant stakes, including the largest shareholder with 35.83%[12] Compliance and Audit - The company has not reported any significant non-compliance issues or overdue commitments during the reporting period[19] - The company did not undergo an audit for the first quarter report[53]

Financial Performance - The company's operating revenue for 2020 was RMB 757,452,458.07, representing a 7.13% increase compared to RMB 707,049,585.85 in 2019[17] - The net profit attributable to shareholders for 2020 was RMB 83,558,816.08, a decrease of 13.38% from RMB 96,465,754.10 in 2019[17] - The basic earnings per share for 2020 was RMB 0.64, down 12.33% from RMB 0.73 in 2019[17] - The weighted average return on equity for 2020 was 6.48%, down from 7.90% in 2019[17] - The company's non-operating income for 2020 was 8,662,140.22, a decrease of 57.3% compared to 20,265,900.23 in 2019[23] - The total revenue for 2020 was approximately ¥757.45 million, representing a 7.13% increase from ¥707.05 million in 2019[45] - Main business revenue accounted for ¥749.97 million, with a year-on-year growth of 6.65%[46] - The company reported a net profit of CNY 95,328,077.45 for the year 2020[94] Cash Flow and Assets - The net cash flow from operating activities increased by 92.86% to RMB 95,229,376.68 in 2020, compared to RMB 49,378,109.21 in 2019[17] - The company's total assets at the end of 2020 were RMB 1,979,325,898.27, reflecting a 3.62% increase from RMB 1,910,171,994.03 at the end of 2019[17] - The company's total cash inflow from operating activities was ¥739,023,263.29 in 2020, up 15.21% from ¥641,479,647.81 in 2019[58] - The company's cash and cash equivalents amounted to ¥221,302,441.82, an increase of approximately 22.1% from ¥181,154,864.08 in 2019[200] - The accounts receivable increased to ¥189,163,906.90 in 2020, up from ¥171,353,194.07 in 2019, reflecting a growth of about 10.4%[200] - The inventory value rose to ¥127,118,893.21, compared to ¥106,050,437.69 in the previous year, indicating an increase of approximately 19.8%[200] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.30 per 10 shares to all shareholders, based on a total of 131,447,829 shares[6] - The cash dividend amount distributed was CNY 17,088,217.77, representing 20.45% of the net profit attributable to ordinary shareholders[94] - The cash dividend total accounted for 100% of the profit distribution total[94] - The cash dividend distribution plan was based on a total share capital of 131,447,829 shares, with a proposed distribution of CNY 1.30 per 10 shares[95] Market Position and Strategy - The company is positioned as a market leader, continuously driving industry innovation and maintaining a competitive edge through R&D and brand influence[32] - The market for integrated ceilings is expected to grow due to the renovation of 5.3 million old urban communities in 2021, representing a 35.9% increase from 2020[29] - The company aims to expand its product service range from kitchen and bathroom spaces to include living rooms, bedrooms, balconies, and public spaces such as hotels and hospitals[82] - The company plans to enhance product innovation and strengthen market share in integrated ceilings, while also developing functional background walls as a new growth curve[82] - The company operates through both retail and engineering channels, catering to a diverse customer base including end consumers and large construction firms[26] Research and Development - The company holds a total of 965 patents, reinforcing its position as a leader in the integrated ceiling industry[26] - The company’s total research and development (R&D) expenses for 2020 amounted to ¥28,842,058.20, a decrease of 12.42% from ¥32,932,019.48 in 2019, representing 3.81% of total revenue[56] - The company is investing 50 million RMB in R&D for new technologies aimed at enhancing energy efficiency in its products[163] Risk Management - The company anticipates risks from macroeconomic factors affecting the real estate market, which could impact demand for integrated ceilings[84] - The company faces risks related to the management of its dealer network, which could affect performance if not properly managed[84] - The company is exposed to fluctuations in raw material prices, particularly aluminum and steel, which could adversely affect profit margins[84] - The company will continue to monitor social and economic trends to proactively manage risks and ensure sustainable development[86] Corporate Governance - The company has adhered to all commitments made regarding related party transactions and competition avoidance[97] - The company has established a governance structure that complies with relevant laws and regulations, holding 1 annual and 2 temporary shareholder meetings during the reporting period[171] - The board of directors consists of 7 members, including 3 independent directors, and held 6 meetings during the reporting period[172] - The company maintains independence from its controlling shareholder in business, personnel, assets, and finance, ensuring no related party transactions occurred[174] Employee and Management Information - The total number of employees in the company is 808, with 575 in the parent company and 233 in major subsidiaries[165] - The total pre-tax compensation for senior management is 484.95万元, with the highest being 120万元 for the General Manager[166] - Annual training plans are organized by the HR department to enhance employees' skills and knowledge[168] Audit and Compliance - The audit opinion issued was a standard unqualified opinion, confirming the fair presentation of the financial statements[190] - The company reported no significant internal control deficiencies during the reporting period[184] - The internal control evaluation report indicated that 100% of the company's total assets and revenue were included in the evaluation scope[184] - The company has implemented measures to ensure compliance with accounting standards, reflecting its commitment to accurate financial reporting[192]

Financial Performance - Net profit attributable to shareholders was ¥43,729,828.33, representing a significant increase of 161.26% year-on-year[8] - Operating income for the period was ¥217,804,238.63, reflecting a growth of 28.94% compared to the same period last year[8] - Basic earnings per share were ¥0.33, up 153.85% from the previous year[8] - The company reported a net profit of ¥60,750,107.70 for the year-to-date, which is a 24.07% increase compared to the same period last year[8] - Total operating revenue for the third quarter was CNY 217,804,238.63, compared to CNY 168,918,198.29 in the previous period, indicating a growth of approximately 29%[42] - The company reported a total profit of CNY 43,180,976.52 for the third quarter, compared to CNY 18,801,552.42 in the same period last year[44] - Net profit for the third quarter reached CNY 41,944,810.47, significantly higher than CNY 15,988,951.84 from the previous year, indicating strong growth[44] - The company reported a net profit increase, with retained earnings rising to CNY 664,599,182.28 from CNY 623,561,400.75, an increase of approximately 6.6%[37] Cash Flow - The net cash flow from operating activities was ¥35,594,219.26, a remarkable increase of 416.09% year-on-year[8] - The net cash flow from operating activities improved by 223.83% to ¥19,541,815.76, mainly due to the collection of bills receivable[21] - The company's cash flow from investing activities improved by 132.35% to ¥25,883,821.48, mainly due to dividends received from Evergrande Group[21] - The company's total cash inflow from operating activities was CNY 492,638,149.89, compared to CNY 443,922,550.95 in the same quarter last year[58] - The company experienced a net decrease in cash and cash equivalents of CNY 20,318,996.49 during the quarter, compared to a decrease of CNY 40,671,326.38 in the previous year[59] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,939,900,375.32, an increase of 1.56% compared to the previous year[8] - The company's accounts receivable increased by 39.02% to ¥133,285,839.20 compared to the previous year-end, primarily due to the increase in bills received from engineering channel business[18] - The construction in progress rose by 90.04% to ¥138,310,694.62, attributed to ongoing investments in the Zhongding Industrial Park and employee dormitory[18] - The company's short-term borrowings decreased by 27.27% to ¥196,729,305.14, reflecting repayments of previous borrowings[18] - The company's total liabilities decreased by 27.27% to ¥196,729,305.14, indicating a reduction in financial leverage[18] - Total liabilities decreased to CNY 635,822,569.78 from CNY 644,368,657.89, showing a reduction of approximately 1.3%[36] - The company's total equity rose to CNY 1,304,077,805.54 from CNY 1,265,803,336.14, marking an increase of around 3%[37] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,169[12] - The top shareholder, Shi Xian, holds 35.83% of the shares, amounting to 47,096,691 shares[12] Financial Expenses and Income - The company's financial expenses surged by 238.49% to ¥7,803,431.30, mainly due to increased loan interest expenses and decreased deposit interest income[20] - Investment income increased by 333.71% to ¥40,773,140.13, primarily from dividends received from Evergrande Group[20] - The company's tax expenses decreased by 40.51% to ¥4,275,740.41, attributed to an increase in tax-exempt profit[21] - The company's financial expenses for the third quarter amounted to CNY 6.49 million, compared to a financial income of CNY 6.02 million in the same period last year, indicating a shift in financial performance[53] Research and Development - Research and development expenses were CNY 6,783,561.78, slightly up from CNY 6,736,512.09 year-over-year, indicating continued investment in innovation[44] - The research and development expenses for the third quarter were CNY 14.61 million, down from CNY 17.13 million in the previous year, representing a decrease of about 14.7%[53] Other Financial Metrics - The weighted average return on equity was 3.42%, an increase of 2.03% compared to the previous year[8] - The company's minority interests decreased by 39.25% to ¥4,277,491.02, primarily due to losses reported by some subsidiaries affected by the pandemic[18] - The company has not reported any non-recurring gains or losses that would be classified as regular income[10]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥280.29 million, a decrease of 16.32% compared to ¥334.97 million in the same period last year[18]. - The net profit attributable to shareholders was approximately ¥17.02 million, down 47.19% from ¥32.23 million year-on-year[18]. - The net profit after deducting non-recurring gains and losses was approximately ¥9.84 million, a decline of 51.66% compared to ¥20.35 million in the previous year[18]. - The net cash flow from operating activities was negative at approximately -¥16.05 million, worsening by 255.09% from -¥4.52 million in the same period last year[18]. - The basic earnings per share decreased by 48.00% to ¥0.13 from ¥0.25 in the previous year[18]. - Total operating revenue for the reporting period was ¥280,290,919.97, a decrease of 16.32% compared to the previous year due to the impact of COVID-19[41]. - The company reported a net profit for the first half of 2020 of CNY 14,291,985.10, a decline of 55.3% from CNY 31,964,789.34 in the first half of 2019[139]. - Total comprehensive income for the first half of 2020 was CNY 23,553,098.57, compared to CNY 33,923,518.76 in the same period of 2019, representing a decrease of approximately 30.7%[144]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥1.90 billion, a decrease of 0.73% from ¥1.91 billion at the end of the previous year[18]. - The net assets attributable to shareholders were approximately ¥1.26 billion, down 0.21% from ¥1.26 billion at the end of the previous year[18]. - Current assets decreased from ¥766,816,970.82 to ¥717,731,060.76, a decline of approximately 6.4%[130]. - Total liabilities decreased from ¥644,368,657.89 to ¥634,147,500.82, a reduction of about 1.9%[131]. - The total owner's equity decreased from ¥1,265,803,336.14 to ¥1,262,128,146.89, a reduction of approximately 0.3%[132]. Cash Flow - The cash flow from operating activities showed a net outflow of ¥16,052,403.50, a significant increase of 255.09% compared to the previous year[42]. - Cash inflow from operating activities was CNY 264,691,967.03, down from CNY 306,474,535.80 in the first half of 2019, indicating a decline of about 13.6%[147]. - Cash inflow from investment activities totaled CNY 306,783,772.97, a decrease from CNY 467,160,767.24 in the first half of 2019, representing a decline of about 34.3%[148]. - Cash flow from financing activities resulted in a net outflow of -CNY 32,337,860.09, compared to a net inflow of CNY 100,149,758.58 in the first half of 2019, indicating a significant change[148]. Investment and R&D - Research and development investment decreased by 26.93% to ¥11,099,568.24, reflecting a focus on core product development[42]. - The company invested a total of ¥45,511,300 in the expansion of the "Baibu Industrial Zone Integrated Ceiling Production Base" during the reporting period[30]. Market and Strategy - The integrated ceiling industry is expected to continue growing due to increasing consumer demand for home aesthetics and comfort, particularly in the renovation of existing homes[27]. - The company is focusing on expanding its product applications into living rooms, bedrooms, and balconies, which presents significant market potential[27]. - The company has implemented a multi-channel sales strategy, including the promotion of "Youbang Micro Stores" to penetrate county and town markets[38]. - The company aims to enhance profitability through refined management and cost reduction strategies[39]. Shareholder Information - The company reported a total of 131,447,829 shares outstanding as of the last trading day before the disclosure[18]. - The total number of shareholders at the end of the reporting period was 7,146[111]. - The largest shareholder, Shi Shenxiang, held 35,322,518 restricted shares, representing a significant portion of the restricted share category[109]. Risks and Challenges - The company is facing risks from the real estate industry's macro-control, which may adversely affect its business development and operating performance[66]. - The company has a risk of price fluctuations in raw materials, particularly aluminum and steel, which could negatively impact gross margins and operating performance[66]. - The company acknowledges potential adverse impacts on production and financial status due to the ongoing global pandemic[68]. Corporate Governance - The company has not engaged in any significant related party transactions during the reporting period[85]. - There were no major lawsuits or arbitration matters during the reporting period[81]. - The company has not implemented any equity incentive plans or employee stock ownership plans during the reporting period[84]. - The company has committed to avoiding any business activities that may compete with its own operations[74]. Accounting and Reporting - The financial report for the first half of 2020 has not been audited[127]. - The financial statements are prepared in RMB, with the balance sheet dated June 30, 2020[128]. - The company follows specific accounting policies and estimates, including provisions for bad debts and fixed assets[178]. - The company’s financial statements reflect the overall financial position, operating results, and cash flows of the entire corporate group[185].

Financial Performance - The company's operating revenue for 2019 was CNY 707,049,585.85, a decrease of 2.52% compared to 2018[18]. - The net profit attributable to shareholders for 2019 was CNY 96,465,754.10, down 7.60% from the previous year[18]. - The basic earnings per share for 2019 was CNY 0.73, a decrease of 7.59% from 2018[18]. - The weighted average return on equity for 2019 was 7.90%, down from 9.07% in 2018[18]. - The company reported a total revenue of ¥707,049,585.85, a decrease of 2.52% compared to ¥725,313,652.19 in 2018[38]. - The net profit attributable to shareholders was ¥96,465,754.10, reflecting the challenges faced in a competitive market[38]. - The gross profit margin for the industrial sector was 34.25%, with a slight decrease of 2.03% year-over-year[44]. - The company's total revenue for the industrial sector was approximately ¥703.23 million, representing a year-over-year decrease of 2.43%[46]. Cash Flow and Assets - The net cash flow from operating activities improved significantly to CNY 49,378,109.21, an increase of 162.13% compared to 2018[18]. - The total assets at the end of 2019 reached CNY 1,910,171,994.03, representing a growth of 25.01% year-on-year[18]. - The net assets attributable to shareholders increased by 5.90% to CNY 1,258,762,532.99 at the end of 2019[18]. - The company reported a net increase in cash and cash equivalents of ¥63,214,160.61, a turnaround from a decrease of ¥59,822,022.13 in 2018, marking a 205.67% improvement[59]. - Total assets increased, with cash and cash equivalents rising to ¥181,154,864.08, up from ¥115,676,698.92, representing a 1.91% increase in total asset proportion[64]. - Accounts receivable rose to ¥171,353,194.07, up from ¥86,260,831.53, reflecting a significant increase of 3.32% in total asset proportion due to higher sales in engineering channels[64]. - The company reported a year-end balance of accounts receivable at CNY 86,260,831.53, with the previous year's balance being CNY 74,481,332.26, indicating an increase of approximately 15.5%[105]. Investment and R&D - The company invested ¥10.55 million in the industrial fund Xiangye Tianbao while terminating investments in Hongli Youbang and Zhejiang Youxuan, resulting in a total reduction of ¥32.34 million[31]. - Research and development expenses decreased by 4.40% to ¥32.93 million compared to the previous year[57]. - R&D investment amounted to ¥32,932,019.48 in 2019, a decrease of 4.40% compared to ¥34,446,689.77 in 2018, representing 4.66% of operating revenue[59]. - The number of R&D personnel decreased by 19.08% to 106, representing 11.22% of total employees, down from 11.58% in 2018[59]. Market and Sales - The company focused on a "retail + engineering" dual-channel strategy, enhancing market share through channel expansion and support for weaker markets[38]. - The revenue from the South China region increased by 14.48% to ¥211,683,390.89, while the East China region saw a decline of 15.23%[42]. - The company has established a comprehensive sales network covering first and second-tier cities, as well as third and fourth-tier cities along the eastern coast, enhancing its market reach[34]. - The integrated ceiling industry is expected to continue growing due to increasing consumer demand for aesthetic and comfortable home environments, particularly in the renovation of existing homes[28]. - The market penetration of integrated ceilings in living rooms and bedrooms remains low, indicating significant potential for expansion beyond traditional kitchen and bathroom applications[29]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of CNY 1.50 per 10 shares, totaling CNY 19,718,218.44 based on the total shares outstanding[6]. - The cash dividend for 2019 represents 20.44% of the net profit attributable to ordinary shareholders, which was RMB 96,465,754.10[94]. - The company distributed cash dividends of RMB 26,289,565.80 for the year 2018, amounting to RMB 3.00 per 10 shares[92]. - The company has a profit distribution policy that aims for a minimum cash dividend ratio of 20% during its growth phase[96]. Corporate Governance and Compliance - The company has maintained independence in business, personnel, assets, institutions, and finance, with no related party transactions with the controlling shareholder[173]. - The company has established a commitment to avoid similar investment directions and project selections that may conflict with its existing projects[100]. - The company has complied with all commitments made to minority shareholders during the reporting period, with no outstanding commitments as of the report date[102]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[104]. - The company has not reported any non-standard audit opinions for the reporting period, indicating compliance with auditing standards[105]. Risks and Challenges - The company faces risks from macroeconomic controls in the real estate sector, which could negatively impact its business performance due to the correlation with the residential renovation market[87]. - The company is exposed to risks related to the management of distributors and specialty stores, which could affect performance and brand image if not managed properly[87]. - Fluctuations in raw material prices, particularly for aluminum and steel, pose a risk to the company's gross margin and operational performance[87]. - The company faces risks from imitation and counterfeiting of its products, which could harm its brand image and operations[91]. Employee and Management Information - The total number of employees in the company is 860, with 644 in the parent company and 216 in major subsidiaries[165]. - The total remuneration for directors, supervisors, and senior management in 2019 amounted to 3.645 million yuan[164]. - The company has established a scientific performance appraisal system for employee remuneration based on excellence performance criteria[166]. - The company emphasizes internal training and knowledge sharing through its training academy and various internal programs[167]. Audit and Internal Control - The company achieved a standard unqualified audit opinion for the financial statements for the year ended December 31, 2019[190]. - The audit report was signed on April 24, 2020, by Lixin Accounting Firm[190]. - The company has established a complete and independent financial accounting system and management procedures[175]. - The supervisory board found no risks during its oversight activities in the reporting period[181].

Financial Performance - The company's revenue for Q1 2020 was ¥60,239,798.19, a decrease of 46.65% compared to ¥112,904,137.78 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥20,759,975.26, representing a decline of 364.74% from a profit of ¥7,841,666.96 in the previous year[8] - Total revenue for the reporting period was 60,239,798.19, a decrease of 46.65% compared to 112,904,137.78 in the same period last year, primarily due to a decline in sales caused by the COVID-19 pandemic[18] - Operating costs amounted to 45,555,688.82, down 39.73% from 75,581,189.75 year-on-year, also attributed to reduced sales due to the pandemic[18] - Net profit for Q1 2020 was a loss of CNY 22,191,578.24, compared to a profit of CNY 7,168,482.87 in the same period last year[42] - The company's operating revenue for the current period is ¥56,280,224.75, a significant decrease compared to ¥95,001,736.60 in the previous period[45] - The net profit for the current period is -¥17,836,706.77, compared to a net profit of ¥9,804,208.48 in the previous period, indicating a substantial decline[46] Cash Flow - The net cash flow from operating activities was -¥84,445,730.01, a decrease of 254.91% compared to -¥23,793,404.74 in the same period last year[8] - Cash flow from operating activities was -84,445,730.01, a decline of 254.91% compared to -23,793,404.74, mainly due to decreased sales and cash collection[19] - The cash flow from operating activities shows a net outflow of -¥84,445,730.01, worsening from -¥23,793,404.74 in the previous period[50] - The net cash flow from operating activities was -$83.89 million, a significant decline from -$20.94 million in the previous period, indicating a worsening cash flow situation[53] - Total cash inflow from operating activities decreased to $60.99 million from $127.19 million, reflecting a drop of approximately 52.0%[53] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,816,676,775.35, down 4.89% from ¥1,910,171,994.03 at the end of the previous year[8] - Current liabilities totaled 573,258,983.13, a decrease from 643,452,733.77 at the end of the previous year[34] - The company's total assets decreased to CNY 1,796,074,874.57 from CNY 1,899,562,945.84 at the end of 2019[38] - Total liabilities decreased to CNY 531,523,842.03 from CNY 617,175,206.53 at the end of 2019[38] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 8,707[11] - The top shareholder, Shi Xiang, holds 35.83% of the shares, totaling 47,096,691 shares[11] Government Support - The company reported government subsidies of ¥1,682,751.90 during the period, primarily related to business operations[9] - Other income increased significantly by 1,652,751.90, representing a 1664.11% increase compared to the previous period, mainly due to increased government subsidies related to regular business activities[18] Investment Activities - Cash flow from investing activities was -13,211,422.85, down 595.82% from 2,664,566.11, primarily due to ongoing investments in the integrated ceiling production base project[19] - The company reported investment income of ¥1,674,691.90, a decrease from ¥3,268,157.98 in the previous period[45] Future Plans - The company plans to focus on new product development and market expansion strategies moving forward[39] Audit and Standards - The company did not undergo an audit for the first quarter report, which may affect the reliability of the financial data presented[56] - The company has not applied new revenue and leasing standards, which may impact future financial reporting[55]