股票代码：002761 股票简称：多喜爱 多喜爱集团股份有限公司 2020年第三季度报告 二〇二〇年十月 多喜爱集团股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人沈德法、主管会计工作负责人沈德法及会计机构负责人(会计主 管人员)潘黎莉声明：保证季度报告中财务报表的真实、准确、完整。 2 多喜爱集团股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |---------------------------------------------------------------------|-------------------------------------------------------|----------------------- ...

Group 1: Event Details - The company will participate in the "2020 Investor Online Reception Day" organized by the Hunan Regulatory Bureau of the China Securities Regulatory Commission, Hunan Listed Companies Association, and Shenzhen Panorama Network Co., Ltd. [2] - The event will be held online on September 11, 2020, from 15:00 to 17:00 [2]. - Investors can access the event through the "Panorama Roadshow" website [2]. Group 2: Company Representatives - The company's board secretary, Ms. Wang Lianjun, and securities affairs representative, Mr. Zhang Kaiqi, will communicate with investors during the event [2]. - The company encourages active participation from investors [2]. Group 3: Assurance of Information - The company and its board guarantee the authenticity, accuracy, and completeness of the disclosed information, ensuring no false records, misleading statements, or significant omissions [2].

Financial Performance - The company reported a revenue of 1.5 billion RMB for the first half of 2020, representing a year-on-year increase of 10%[23] - The net profit attributable to shareholders was 200 million RMB, up 15% compared to the same period last year[23] - The company's operating revenue for the reporting period reached ¥37,143,713,205.32, an increase of 13.34% compared to the same period last year[32] - Net profit attributable to shareholders was ¥498,806,849.85, reflecting a growth of 16.73% year-over-year[32] - The management has set a revenue target of 3 billion RMB for the full year 2020, reflecting a growth rate of 12%[23] - The gross margin improved to 35%, an increase of 5 percentage points from the previous year[23] - The total profit reached CNY 69.69 million, reflecting a 17% year-on-year growth due to increased operating revenue and improved cost control[56] - Net profit attributable to shareholders was CNY 49.88 million, up 16.73% year-on-year, driven by revenue growth and enhanced expense management[56] User Growth and Market Expansion - User data showed an increase in active users by 25% to 1.2 million during the reporting period[23] - The company plans to expand its market presence by entering three new provinces by the end of 2020[23] - The company has established strategic partnerships with over 50 local governments, enhancing its market presence and operational scale[47] - The company is focused on expanding its market presence and enhancing its capabilities in major project investments in Zhejiang Province[56] Research and Development - The company is investing 100 million RMB in R&D for new product development, focusing on sustainable materials[23] - Research and development investment surged by 179.40% to CNY 124.37 million, indicating a strong commitment to innovation[56] Asset Management and Financial Position - The total assets at the end of the reporting period amounted to ¥80,186,666,878.51, representing a 1.09% increase from the end of the previous year[32] - The net assets attributable to shareholders increased by 28.36% to ¥5,840,622,212.12 compared to the previous year[32] - The company reported a basic earnings per share of ¥0.4613, a slight increase of 0.28% from the previous year[32] - The weighted average return on equity rose to 12.49%, up by 3.52% from the previous year[32] Legal and Compliance Issues - The company has a pending lawsuit involving a claim for a deposit of 58.94 million yuan, which has not yet been resolved[112] - The company filed a bankruptcy claim against Zhongyou Company for a total amount of 517.17 million yuan, with a confirmed claim of 257.59 million yuan[113] - The company is actively pursuing legal action against Shangling Company for unpaid project funds amounting to 65.10 million yuan[114] - The company is involved in a lawsuit with Hua Yue Company, with the claimed damages amounting to 212.44 million yuan for losses incurred from January 22, 2008, to April 19, 2019[121] Corporate Governance and Structure - The company has established a robust governance structure with a board of directors, supervisory board, and management team, enhancing operational efficiency[50] - The company has no significant related party transactions during the reporting period[148] - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[146] Social Responsibility and Community Engagement - The company reported a total donation of 1.2 million CNY to six villages in Nanchong City, Sichuan Province, as part of its poverty alleviation efforts[165] - The company has successfully helped all 12 paired villages achieve poverty alleviation[165] - The company has committed to continue monitoring the implementation of poverty alleviation projects and ensure effective use of funds[171] Strategic Partnerships and Mergers - The company completed a significant asset swap and merger with Zhejiang Construction Investment Group, increasing its total share capital to 1,081,340,098 shares[31] - The company received approval from the China Securities Regulatory Commission for a major asset replacement and merger with Zhejiang Construction Investment Group[184] - The newly issued shares were listed on April 24, 2020, following the merger[193] Risk Management - The company faces risks related to macroeconomic conditions and has outlined strategies to mitigate these risks in its report[7] - The company plans to enhance its risk management strategies to mitigate macroeconomic policy risks and improve accounts receivable collection processes[100][101] - The company is actively monitoring international market conditions to address risks associated with overseas operations and trade tensions[102]

Acquisition and Asset Restructuring - The company completed the acquisition of 100% equity of Zhejiang Construction Group on December 26, 2019, with the asset transfer valued at 728,223.82 million CNY[6]. - The asset restructuring was approved by the China Securities Regulatory Commission on December 17, 2019, allowing for significant asset reallocation[6]. - The completion of the asset transfer on December 27, 2019, marked the end of legal relations concerning the transferred assets with the company[9]. - The company underwent a significant asset swap and merger with Zhejiang Construction Investment Group, which was approved by the China Securities Regulatory Commission on December 24, 2019[36]. - The company completed a major asset restructuring, acquiring 100% control of Zhejiang Jian Gong Wu Jian Construction Co., Ltd. for a total cost of CNY 9,330,000.00 on August 1, 2019[93]. - The acquisition was treated as a reverse purchase, with no goodwill or current profit recognized due to the lack of operating assets or liabilities in the acquired company[93]. Financial Performance - The company reported a total revenue of RMB 1.5 billion for the fiscal year 2019, representing a year-over-year increase of 15%[30]. - The net profit for the same period was RMB 200 million, which is a 10% increase compared to the previous year[30]. - The company's operating revenue for 2019 was ¥75,649,475,026.19, representing a 15.19% increase from ¥65,674,868,905.23 in 2018[40]. - The net profit attributable to shareholders for 2019 was ¥835,163,172.45, a 1.85% increase compared to ¥819,968,854.77 in 2018[40]. - The total profit reached CNY 121,869,740, marking a year-on-year increase of 5.21% due to the growth in operating revenue[70]. - The company reported a net profit of ¥179,115,295.03 in Q1 2019, with total revenue of ¥17,700,070,008.12[47]. - In Q4 2019, the company achieved a net profit of ¥199,796,766.60, with revenue reaching ¥23,743,084,747.22[47]. Market Expansion and Strategic Initiatives - The company is focused on leveraging new technologies and products to drive future growth and market expansion[14]. - The company plans to explore potential mergers and acquisitions to strengthen its market position, with a budget of RMB 100 million allocated for this purpose[30]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[30]. - The company has established strategic partnerships with over 50 local governments, enhancing its market scale through a full industry chain linkage[64]. - The company is expanding its market presence in over 10 countries and regions, including Algeria, Japan, and the UK[64]. - The company plans to expand its market presence and enhance competitiveness through strategic acquisitions and partnerships, aiming for sustainable growth in the construction industry[182]. Risks and Challenges - The company has identified various risks including macroeconomic, market, and technology risks that may impact future performance[14]. - The company faces risks related to macroeconomic policies, accounts receivable recovery, litigation, and intensified market competition[189]. - The company will actively respond to international market changes and manage risks associated with overseas operations due to global economic fluctuations[192]. Research and Development - The research and development (R&D) investment increased by 140.58% to ¥154,236,393.43, representing 0.20% of operating revenue[112]. - The company completed one national-level technology project and multiple provincial-level research projects in 2019, focusing on green construction and smart building technologies[111]. - The number of R&D personnel increased by 4.20% to 3,694, representing 18.10% of the total workforce[112]. Cash Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 2 CNY per 10 shares, based on a total share base of 1,081,340,098 shares[14]. - The cash dividend distribution for 2019 was 216,268,019.60 RMB, representing 27.59% of the net profit attributable to ordinary shareholders[199]. - The company has consistently maintained a transparent and compliant decision-making process regarding dividend distribution[198]. - The company has ensured that minority shareholders have ample opportunity to express their opinions and protect their rights[198]. Infrastructure Investment and Projects - The company plans to continue expanding its infrastructure investment operations, particularly in urban rail transit and water conservancy projects, to capitalize on urbanization trends[57]. - The total investment for the PPP projects listed is significant, indicating a strong focus on infrastructure development and public utility projects[134]. - The expected revenues from these projects highlight the potential financial returns for the company, with several projects showing substantial anticipated earnings[134].

Financial Performance - The company's operating revenue for Q1 2020 was ¥16,192,815,329.64, a decrease of 8.52% compared to ¥17,700,070,008.12 in the same period last year[9] - Net profit attributable to shareholders was ¥176,954,320.13, down 1.21% from ¥179,115,295.03 year-on-year[9] - The net profit after deducting non-recurring gains and losses was ¥162,750,022.44, a decrease of 7.45% compared to ¥175,844,710.77 in the previous year[9] - Basic and diluted earnings per share were both ¥0.15, down 16.67% from ¥0.18 in the previous year[9] - Total operating revenue for the current period was CNY 16,192,815,329.64, a decrease of 8.54% compared to CNY 17,700,070,008.12 in the previous period[62] - Net profit for the current period was CNY 180,901,603.88, a decrease of 6.67% compared to CNY 193,461,138.03 in the previous period[69] - Earnings per share (EPS) for the current period was CNY 0.15, down from CNY 0.18 in the previous period[69] - The total comprehensive income for the current period is -1,113,821.33, compared to 1,336,717.97 in the previous period, reflecting a significant loss[76] Cash Flow - The net cash flow from operating activities was -¥3,255,626,896.50, worsening by 63.84% from -¥1,987,060,403.74 in the same period last year[9] - Cash flow from operating activities for the current period is -3,255,626,896.50, compared to -1,987,060,403.74 in the previous period, indicating worsening cash flow[78] - Cash inflow from operating activities totaled ¥3,289,731.15, while cash outflow was ¥2,468,639.07, resulting in a net cash flow from operations[85] - The net increase in cash and cash equivalents for the current period is ¥804,651.63, compared to a decrease of -¥38,948,080.01 in the previous period[88] Assets and Liabilities - Total assets at the end of the reporting period were ¥74,967,539,038.95, a decrease of 5.49% from ¥79,323,965,003.99 at the end of the previous year[9] - The total assets of the company amount to ¥79,323,965,003.99, with current assets at ¥60,046,826,400.89[92] - The total liabilities stand at ¥62,758,605,235.89, indicating a significant leverage position[92] - Total current liabilities decreased to CNY 56.76 billion from CNY 62.76 billion, a reduction of about 9.5%[52] - The company's long-term borrowings increased to CNY 10.63 billion from CNY 9.46 billion, showing an increase of approximately 12.4%[52] - Total liabilities amounted to ¥73,343,584,061.91, with non-current liabilities at ¥10,584,978,826.02[95] Shareholder Equity - Net assets attributable to shareholders increased by 26.05% to ¥5,735,517,802.23 from ¥4,550,012,670.60 at the end of the previous year[9] - The total equity attributable to shareholders rose to CNY 5.74 billion from CNY 4.55 billion, marking an increase of about 26.2%[54] - The company's total equity was reported at ¥5,980,380,942.08[95] Research and Development - R&D expenses increased by 65.70% to CNY 4,621.74 thousand, indicating a stronger focus on technology development[25] - Research and development expenses increased to CNY 46,217,397.43, up from CNY 27,891,675.97 in the previous period, reflecting a focus on innovation[65] Government Support - The company received government subsidies amounting to ¥22,323,430.19 during the reporting period[9] - Other income surged by 4368.08% to CNY 1,542.60 thousand, attributed to increased government subsidies received[25] Inventory and Prepayments - Inventory decreased significantly by 91.85% to CNY 121,507.25 thousand, as part of the inventory was reclassified to contract assets under new revenue standards[25] - Prepayments increased by 51.99% to CNY 125,909.19 thousand, impacted by logistics issues due to the pandemic[25] Financial Management - The company reported a 20.23% decrease in financial expenses to CNY 18,405.27 thousand, due to reduced interest expenses[25] - The company incurred management expenses of 1,113,764.13 in the current period, compared to 9,969,891.96 in the previous period, showing a reduction in management costs[74] Trading and Market Position - The company’s stock resumed trading on January 22, 2020, after completing the cash option distribution related to the major asset swap and merger[28] - The company aims to enhance market expansion and product development strategies moving forward[64] Changes in Accounting Standards - The company has implemented new revenue and leasing standards starting from 2020, affecting prior comparative data[99]

Financial Performance - Operating revenue for the reporting period was ¥185,162,698.95, down 14.72% year-on-year[8] - Net profit attributable to shareholders was ¥3,375,591.47, representing a decline of 34.25% compared to the same period last year[8] - Basic earnings per share were ¥0.0097, down 34.46% year-on-year[8] - The weighted average return on equity was 0.49%, a decrease of 0.25% compared to the previous year[8] - The company reported a total comprehensive income of CNY 2,509,639.46 for the current period, compared to CNY 9,568,476.91 in the previous period[64] - The net profit for the current period is CNY 8,942,309.79, compared to a net profit of CNY 702,493.54 in the previous period, representing an increase of 1,272.5%[68] - The total profit for the current period is -¥13,375,922.79, compared to -¥3,552,785.70 in the previous period, indicating a deeper loss[78] Cash Flow - The net cash flow from operating activities was -¥92,967,798.58, a significant decrease of 705.32%[8] - Cash inflow from operating activities amounted to 652,899,897.26, while cash outflow was 745,867,695.84, resulting in a net cash outflow of 92,967,798.58[85] - The net cash flow from investment activities was 18,926,271.22, compared to 31,885,326.89 in the previous period, indicating a decline in investment performance[85] - The net cash flow from financing activities was -13,035,752.81, compared to -19,858,476.65 in the previous period, indicating an improvement in financing outflows[88] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥863,626,383.01, a decrease of 14.32% compared to the previous year[8] - Total liabilities decreased from CNY 295,857,747.01 to CNY 160,789,390.74, a reduction of approximately 45.6%[46][46] - The company's current assets totaled CNY 486,076,652.54, down from CNY 609,764,398.45 at the end of 2018, indicating a decrease of about 20.3%[40][46] - The company's equity attributable to shareholders decreased from CNY 694,014,448.41 to CNY 687,401,246.46, a decline of about 0.9%[46][46] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,746[12] - The largest shareholder, Zhejiang Construction Investment Group Co., Ltd., held 29.83% of the shares[13] Investment and Financial Management - The company reported a total investment of RMB 58,166,931.52 in financial assets, with a purchase amount of RMB 158,000,000.00 and a sale amount of RMB 188,019,935.23 during the reporting period[28] - The company engaged in entrusted financial management, with a total amount of RMB 7,300,000.00, including RMB 5,500,000.00 from idle self-owned funds and RMB 1,800,000.00 from idle raised funds[33] Research and Development - Research and development expenses for the current period were CNY 5,382,620.01, a decrease of 47.1% from CNY 10,172,218.97 in the previous period[59] - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[100] Regulatory and Compliance - The company received an inquiry letter from the Shenzhen Stock Exchange regarding the restructuring plan on April 26, 2019, and responded with supplementary documents[23] - The company reported no violations regarding external guarantees during the reporting period[29] - The company confirmed no non-operating fund occupation by controlling shareholders or related parties during the reporting period[30] Restructuring and Corporate Actions - The company announced a major asset restructuring plan to acquire 100% equity of Zhejiang Construction Investment Group, leading to a stock suspension on April 1, 2019[23] - On September 26, 2019, the company's major asset restructuring plan was not approved by the China Securities Regulatory Commission, resulting in the resumption of trading on September 27, 2019[26] - The company faced stock price fluctuations, with a cumulative decline exceeding 20% over two consecutive trading days following the restructuring plan's rejection[26]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 363,568,272.84, a decrease of 7.16% compared to CNY 391,624,178.03 in the same period last year[23]. - The net profit attributable to shareholders was a loss of CNY 5,908,793.42, representing a decline of 123.98% from a profit of CNY 24,641,417.09 in the previous year[23]. - The net cash flow from operating activities was negative CNY 60,187,300.91, a significant decrease of 390.61% compared to CNY 20,710,642.63 in the same period last year[23]. - Basic and diluted earnings per share were both negative CNY 0.0170, down 123.91% from CNY 0.0711 in the previous year[23]. - The company reported a net loss of CNY 7,997,343.91 for the first half of 2019, compared to a net profit of CNY 35,177,101.80 in the same period of 2018[176]. - Operating profit for the first half of 2019 was CNY -5,452,606.21, a significant decline from CNY 44,067,197.15 in the previous year[176]. - The company reported a significant increase in financial expenses, with interest expenses rising to CNY 1,232,486.11 from CNY 2,252,230.56[173]. - The company experienced a decrease in sales expenses to CNY 79,141,597.60 from CNY 76,938,868.01, indicating cost control measures[173]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 907,517,829.08, a decrease of 9.96% from CNY 1,007,929,110.40 at the end of the previous year[23]. - The net assets attributable to shareholders decreased by 1.44%, amounting to CNY 684,025,654.99 compared to CNY 694,014,448.41 at the end of the previous year[23]. - Total liabilities decreased to CNY 207,190,476.27 from CNY 295,857,747.01, a reduction of approximately 30%[163]. - Owner's equity decreased to CNY 700,327,352.81 from CNY 712,071,363.39, a decrease of approximately 1.9%[164]. - Long-term equity investments decreased to CNY 2,247,734.55 from CNY 2,698,613.97, reflecting a decline of about 16.7%[161]. Cash Flow - Cash flow from operating activities for the first half of 2019 was a net outflow of CNY 60,187,300.91, a decline from a net inflow of CNY 20,710,642.63 in the first half of 2018[185]. - Cash flow from investing activities generated a net inflow of CNY 27,967,314.81 in the first half of 2019, compared to CNY 2,781,322.42 in the same period of 2018[185]. - The cash inflow from sales of goods and services reached CNY 252,160,577.67 in the first half of 2019, compared to CNY 229,206,193.67 in 2018, reflecting an increase of approximately 10%[187]. - The company incurred total cash outflows from operating activities of CNY 299,383,583.10 in the first half of 2019, up from CNY 270,296,523.24 in the previous year, indicating a rise of about 10.8%[187]. Investment and Development - The company has implemented a multi-brand and multi-channel development strategy, focusing on the mid-to-high-end home textile market in second and third-tier cities[32]. - The company is a pioneer in the industry for using digital printing equipment, enabling instant output of new patterns and rapid integration of international fashion elements into product design[32]. - Research and development expenses rose by 13.75% to CNY 10,190,898.36, up from CNY 8,958,943.28[45]. - The company’s self-developed nano-silver technology has received a national invention patent, enhancing the antibacterial properties of its textile products[38]. Corporate Governance and Shareholder Information - The company held its annual general meeting with a participation rate of 50.41% on April 19, 2019[91]. - The first extraordinary general meeting had a participation rate of 50.33% on May 29, 2019, while the second extraordinary meeting had a participation rate of 68.04% on June 21, 2019[91]. - The total number of common shareholders at the end of the reporting period was 25,939, with 10 shareholders holding more than 5% of shares[132]. - The company does not have any preferred shares in the reporting period[143]. - There were no changes in the shareholding of directors, supervisors, and senior management during the reporting period[147]. Strategic Initiatives and Risks - The company faced various risks including macroeconomic risks, market risks, and technology upgrade risks, which may impact future development[6]. - The company plans to acquire 100% equity of Zhejiang Construction Investment Group Co., Ltd., which constitutes a major asset restructuring[87]. - The restructuring plan aims to enhance the company's market position and operational efficiency through strategic asset integration[119]. - The company is committed to complying with regulatory requirements throughout the restructuring process, ensuring transparency and accountability[119].

Revenue and Profitability - The company's revenue for Q1 2019 was ¥195,270,125, representing a 23.09% increase compared to ¥158,636,579 in the same period last year[8] - Net profit attributable to shareholders decreased by 38.27% to ¥4,763,154.94 from ¥7,716,052.46 year-on-year[8] - The net profit after deducting non-recurring gains and losses fell by 58.07% to ¥1,929,566.68 compared to ¥4,601,328.04 in the previous year[8] - Basic and diluted earnings per share decreased by 38.36% to ¥0.0233 from ¥0.0378 year-on-year[8] - Net profit for the period was $4,610,865, down from $8,262,418, a decrease of about 44.5%[56] - Earnings per share (EPS) for the period was $0.0233, compared to $0.0378 in the previous period, a decline of approximately 38.5%[56] Cash Flow - The net cash flow from operating activities was negative at -¥55,407,897.10, a decline of 41.31% from -¥39,209,301.57 in the same period last year[8] - Net cash flow from operating activities decreased by 41.31% to -¥55,407,897.10 from -¥39,209,301.57, primarily due to increased payments related to new business operations[20] - The company reported a net cash increase of CNY -58,983,308.15, compared to CNY -32,651,410.57 in the previous period[70] - Total cash outflow for operating activities was CNY 283,056,096.96, an increase from CNY 221,660,644.62 in the previous period[67] Assets and Liabilities - Total assets at the end of the reporting period were ¥931,961,622.29, down 7.54% from ¥1,007,929,110.40 at the end of the previous year[8] - Current liabilities decreased from ¥277,857,747.01 to ¥198,646,060.52, a reduction of about 28.6%[39] - Total liabilities decreased from ¥295,857,747.01 to ¥215,146,060.52, a decline of around 27.2%[39] - Non-current assets totaled ¥393,056,588.25, down from ¥398,164,711.95, reflecting a decrease of approximately 1.3%[36] - Owner's equity increased from ¥712,071,363.39 to ¥716,815,561.77, showing a growth of about 0.65%[42] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,076[12] - Major shareholder Chen Jun held 28.07% of the shares, amounting to 57,262,232 shares, which are currently pledged[12] Expenses - Research and development expenses increased by 35.27% to ¥5,326,930.71 from ¥3,937,938.59, attributed to increased R&D costs in internet and related businesses[20] - Income tax expenses rose by 93.28% to ¥2,479,669.71 from ¥1,282,949.85, mainly due to increased tax expenses related to new businesses[20] - Total operating costs amounted to $191,359,720, up from $152,653,952, indicating an increase of about 25.3%[52] - Sales expenses rose to $41,420,978 from $32,955,289, an increase of approximately 25.8%[52] Other Financial Activities - The company received government subsidies amounting to ¥2,985,698.57 during the reporting period[8] - The company announced a major asset restructuring plan involving the acquisition of 100% equity of Zhejiang Construction Investment Group, leading to a temporary suspension of trading[21] - The company committed to not actively trading its shares for a period of six months starting from December 14, 2018, as part of its corporate governance commitments[24] - The company recorded an investment loss of $249,149, compared to a gain of $784,637 in the previous period, indicating a significant decline[52] Audit and Reporting - The company did not undergo an audit for the first quarter report[77]

Financial Performance - The company's operating revenue for 2018 was approximately ¥902.83 million, representing a year-over-year increase of 32.61% compared to ¥680.83 million in 2017[15] - The net profit attributable to shareholders for 2018 was approximately ¥27.78 million, an increase of 20.09% from ¥23.14 million in 2017[15] - The net cash flow from operating activities for 2018 was approximately ¥101.34 million, showing a significant increase of 95.33% compared to ¥51.88 million in 2017[15] - The basic earnings per share for 2018 was ¥0.14, up 27.27% from ¥0.11 in 2017[15] - Total assets at the end of 2018 were approximately ¥1.01 billion, reflecting a 7.67% increase from ¥936.09 million at the end of 2017[15] - The net assets attributable to shareholders at the end of 2018 were approximately ¥694.01 million, an increase of 3.68% from ¥669.35 million at the end of 2017[15] - The company achieved total operating revenue of CNY 902.83 million, a year-on-year increase of 32.61%[34] - The total profit reached CNY 49.26 million, reflecting a year-on-year growth of 62.86% due to increased operating revenue[34] - Net profit attributable to shareholders was CNY 27.78 million, up 20.09% year-on-year, primarily driven by revenue growth[34] - The company reported a net profit of CNY 8,326,100 for 2018, after deducting CNY 832,600 for statutory surplus reserves[95] Revenue Sources - Revenue from the textile sector was CNY 813.65 million, accounting for 90.12% of total revenue, with a year-on-year increase of 19.51%[37] - Internet and related business revenue was CNY 89.18 million, representing 9.88% of total revenue[37] - The clothing segment saw a remarkable revenue increase of 461.19%, reaching CNY 120.64 million[37] - The company expanded its market presence in the South China region, with revenue growth of 86.28% to CNY 114.96 million[38] - The company’s revenue growth was driven by stable development in traditional home textile business and increased income from internet-related businesses in the second and third quarters[24] Investments and Acquisitions - The company acquired 51% stakes in Pingxiang Haoyuan Network Technology Co., Ltd. and Guangzhou Quheng Network Technology Co., Ltd. in April 2018, with respective revenues of approximately ¥7.95 million and ¥26.45 million, and net losses of approximately ¥81,395 and ¥460,911[45] - The company’s long-term equity investments increased by 269.86, primarily due to additional investments in a joint venture[26] - The company established several new subsidiaries in 2018, including a wholly-owned subsidiary, Duoxilai Home Products Co., Ltd., and multiple joint ventures[46] - The company increased its investment in Guangzhou Quheng Network Technology Co., Ltd. by 14.79 million RMB, raising its registered capital from 1 million RMB to 30 million RMB[135] Research and Development - Research and development expenses increased by 50.99% to ¥23.97 million in 2018, primarily due to increased investment in internet and related business R&D[50] - R&D personnel increased by 66.27% to 138, with R&D investment rising by 50.99% to approximately CNY 23.97 million, representing 2.65% of revenue[56] - The company has developed a patented nano-silver technology for antibacterial fabrics, showcasing its commitment to innovation in product quality[29] - The company is focusing on developing eco-friendly and high-performance fabrics, including those made from regenerated cellulose fibers and antimicrobial treatments[53] - The company plans to enhance product development by increasing the number and speed of new product launches, focusing on innovative home textile materials through collaborations with renowned domestic and international institutions[81] Operational Efficiency - The company reported a significant increase in cash flow from operations, indicating improved operational efficiency and financial health[15] - The company plans to enhance operational efficiency through the integration of online and offline systems and improvements in retail management and logistics[81] - The management team has set a goal to improve operational efficiency by 15% through cost-cutting measures and process optimization[99] Risk Management - The company faced various risks including macroeconomic, market, and technology risks, which may impact future performance[4] - The company is addressing raw material price volatility risks by forming strategic partnerships with quality suppliers to mitigate cost increases[84] - The company anticipates that rising labor costs will impact its operations, necessitating ongoing adjustments to maintain profitability[84] Dividend Policy - The company plans to distribute a cash dividend of ¥0.20 per 10 shares, with a capital reserve increase of 7 shares for every 10 shares held[4] - The company declared a cash dividend of CNY 4,080,000 for the year 2018, which represents 14.68% of the net profit attributable to ordinary shareholders[93] - The cash dividend distribution accounted for 100% of the total profit distribution amount[94] - The company maintained a consistent dividend payout ratio over the past three years, with 2017 and 2018 ratios at 13.48% and 14.68%, respectively[93] Corporate Governance - The company has established a quality control system to ensure high product quality, with its Changsha industrial park production base now in operation, which will gradually increase the proportion of self-owned production capacity[82] - The company has a clear organizational structure, with no overlap with the controlling shareholder's operations[181] - The company has established a robust internal control system, with the board responsible for its implementation and oversight[178] - The audit opinion for the financial statements was a standard unqualified opinion, indicating fair representation of the company's financial status[196] Market Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12% based on current market trends[99] - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share within the next two years[98] - The company aims to increase its market share by 10% in the next fiscal year through strategic partnerships and acquisitions[128] Employee Management - The company employed a total of 1,223 staff, including 442 production personnel and 531 sales personnel[171] - The company has established a training and development management system to enhance employee skills and management capabilities[174] - The total remuneration for directors, supervisors, and senior management in 2018 amounted to CNY 2.6181 million[170] Compliance and Transparency - The company emphasizes transparency and compliance with legal regulations, ensuring timely and accurate information disclosure[132] - The company has not experienced any major litigation or arbitration matters during the reporting period[110] - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[114]

Financial Performance - Total assets increased by 2.77% to CNY 961,989,262 compared to the end of the previous year[8] - Net assets attributable to shareholders increased by 3.98% to CNY 696,004,848 compared to the end of the previous year[8] - Operating revenue for the current period reached CNY 217,126,468, a 45.02% increase year-on-year[8] - Net profit attributable to shareholders surged by 240.18% to CNY 5,133,811 for the current period[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 384.02% to CNY 4,707,578[8] - Basic earnings per share rose by 240.54% to CNY 0.0252 for the current period[8] - The weighted average return on net assets improved to 0.74%, up from 0.51% in the previous year[8] - The company reported a net cash flow from operating activities of CNY -11,544,166.04, a decrease of 61.14% compared to the same period last year[8] Shareholder Information - The total number of shareholders at the end of the reporting period was 5,992[12] - The top three shareholders held a combined 67.47% of the shares, with the largest shareholder owning 28.51%[12] Revenue and Income Growth - Accounts receivable increased by 41.12% to 64,139,870.08, primarily due to new business-related receivables[16] - Prepayments rose by 60.07% to 23,016,053.13, mainly from new business-related prepayments[16] - Operating revenue grew by 36.49% to 608,750,646.05, driven by increased income from new internet-related investments[16] - Other income surged by 1730.59% to 2,802,582.74, reflecting significant growth in business operations[16] - Cash received from sales of goods and services rose by 34.74% to 690,794,086.95, attributed to new business developments[16] Tax and Financial Expenses - Income tax expenses increased by 322.66% to 11,519,707.06, corresponding to the rise in total profit[16] - Financial expenses rose by 40.80% to 3,265,694.28, mainly due to increased interest expenses[16] Future Projections and Commitments - The net profit attributable to shareholders for 2018 is expected to range from RMB 43.96 million to RMB 55.53 million, representing a growth of 90.00% to 140.00% compared to RMB 23.14 million in 2017[21] - The company plans to maintain stable growth in its home textile business and expects profits from internet-related businesses to contribute to overall profit growth[21] Share Repurchase and Shareholder Commitments - The company has committed to repurchase shares if the stock price falls below the audited net asset value per share for 20 consecutive trading days[20] - The board of directors can terminate share repurchase if the stock price exceeds the net asset value per share for five consecutive trading days[20] - The company’s major shareholders have committed to using at least 30% of their annual salary for share purchases[20] Compliance and Governance - There are no instances of non-operating fund occupation by controlling shareholders or related parties during the reporting period[23] - The company has no violations regarding external guarantees during the reporting period[22] - The company is in compliance with all relevant laws and regulations regarding share repurchase and management[20] Financial Instruments and Investments - The company reported a financial derivative transaction linked to USD3M-LIBOR with a return of 4.40% for the period ending on November 24, 2017, amounting to USD3 million[26] - The investment return from financial derivatives for the period ending on April 26, 2018, was recorded at 4.60%, with a nominal principal of USD3 million[26] - The company has engaged in various financial instruments including ABS and corporate bonds, with a focus on maintaining a credit rating of AA or above for short-term financing bonds[26] - The company has raised funds through non-public targeted debt financing instruments, with a return of 4.65% for the period ending on June 18, 2018, totaling RMB1.5 billion[26] - The company is actively involved in the trading of various financial products, including government bonds and policy financial bonds, to optimize its investment portfolio[26] - The company has reported a significant focus on cash management and liquidity through various financial instruments, ensuring a robust financial position[26] - The company is exploring market expansion opportunities through strategic financial partnerships and investment in new financial products[26] - The company aims to enhance its financial performance by leveraging financial derivatives and optimizing its capital structure[26] - The company is committed to maintaining a diversified investment strategy to mitigate risks associated with market fluctuations[26] - The company is continuously evaluating new financial technologies to improve its operational efficiency and investment returns[26] Total Investment and Returns - The total investment amount reached 26,100 million, with a total return of 280.44 million and a principal return of 185.14 million[27] Research and Communication Activities - The company did not engage in any research, communication, or interview activities during the reporting period[28]