Financial Performance - The company's revenue for Q3 2022 was ¥572,538,559.53, a decrease of 2.40% compared to the same period last year[4]. - Net profit attributable to shareholders was ¥17,148,891.45, down 55.16% year-on-year[4]. - The basic earnings per share decreased by 60.00% to ¥0.04[4]. - Total operating revenue for the current period was ¥1,846,478,038.89, a decrease of 7.1% from ¥1,988,808,460.37 in the previous period[21]. - Net profit for the current period was ¥188,191,919.00, a decline of 36.4% compared to ¥295,907,018.44 in the previous period[22]. - Earnings per share (EPS) for the current period was ¥0.40, down from ¥0.65 in the previous period[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,748,942,418.80, an increase of 5.62% from the end of the previous year[4]. - Total assets increased to ¥2,748,942,418.80, up from ¥2,602,662,366.49[20]. - Total liabilities decreased to ¥558,021,662.95 from ¥614,878,120.03[20]. - Total equity attributable to shareholders increased by 9.47% to ¥2,065,443,459.79 compared to the end of the previous year[4]. - Total equity rose to ¥2,190,920,755.85, compared to ¥1,987,784,246.46 in the previous period[20]. Cash Flow - The company experienced a 28.55% decrease in cash flow from operating activities, totaling ¥261,311,610.78[4]. - Operating cash flow for the current period is ¥261,311,610.78, a decrease of 28.5% from ¥365,732,846.11 in the previous period[25]. - Total cash inflow from operating activities is ¥2,077,913,691.40, down 7.0% from ¥2,234,404,683.02 year-on-year[25]. - Cash outflow from operating activities totaled ¥1,816,602,080.62, a decrease of 2.8% compared to ¥1,868,671,836.91 in the previous period[25]. - The ending balance of cash and cash equivalents is ¥1,010,565,438.09, up from ¥788,997,453.89 in the previous period[25]. Research and Development - Research and development expenses increased by 55.64% to ¥38,260,112.86 compared to the same period last year[9]. - Research and development expenses increased to ¥38,260,112.86, up from ¥24,582,765.92[22]. Shareholder Information - The total number of shares outstanding is 409,924,000, with the largest shareholder, Lü Xingping, holding 33.77% of the shares[15]. - As of October 13, 2022, Lü Xingping became the actual controller of the company after acquiring over 30% of the shares[14]. - The top ten shareholders hold significant stakes, with the second-largest shareholder, Lin Shengzhi, reducing his stake from 32.49% to 27.47%[14]. - The company has not disclosed any relationships or concerted actions among the top shareholders[18]. - The company has disclosed various important announcements regarding shareholder changes and board meetings throughout 2022[16]. Other Income and Expenses - Other income rose by 121.90% to ¥15,882,347.90, primarily due to increased government subsidies[9]. - The company reported a significant increase in asset disposal gains, which rose by 2999.70% to ¥1,489,099.68[9]. - The company recognized a total inventory impairment provision of CNY 70,039,800, which reduced the net profit attributable to shareholders by CNY 45,574,500 during the first nine months of 2022[16]. - The company reported a decrease in sales expenses to ¥745,893,161.23 from ¥761,809,536.15[22]. - Other comprehensive income after tax for the current period was ¥3,146,908.62, compared to a loss of ¥819,222.24 in the previous period[23]. Inventory and Accounts Receivable - Accounts receivable decreased to CNY 191,174,019.86 from CNY 202,832,390.23, indicating a decline of about 5.8%[18]. - Inventory stood at CNY 746,255,242.82, showing a slight increase from CNY 742,076,438.53[18]. Accounting Changes - The company has implemented a change in accounting estimates effective July 1, 2022, affecting the valuation of inventory[16].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,273,939,479.36, a decrease of 9.15% compared to CNY 1,402,173,409.56 in the same period last year[20]. - The net profit attributable to shareholders was CNY 145,587,649.90, down 34.42% from CNY 222,004,730.35 in the previous year[20]. - The net cash flow from operating activities decreased by 37.73% to CNY 201,272,697.47 from CNY 323,238,394.15 in the same period last year[20]. - Basic and diluted earnings per share were both CNY 0.36, a decline of 34.55% compared to CNY 0.55 in the previous year[20]. - The company's revenue for the reporting period was ¥1,273,939,479.36, a decrease of 9.15% compared to ¥1,402,173,409.56 in the same period last year[44]. - The company reported a total profit of 227,577,025.72 for the first half of 2022, down 31.2% from 331,108,462.11 in the first half of 2021[144]. - The total comprehensive income for the first half of 2022 was 168,848,391.20, a decrease of 32.2% from 249,085,736.66 in the first half of 2021[144]. Assets and Liabilities - The total assets at the end of the reporting period increased by 4.72% to CNY 2,725,484,306.08 from CNY 2,602,662,366.49 at the end of the previous year[20]. - The total liabilities decreased to CNY 565,188,450.12 from CNY 614,878,120.03[136]. - Cash and cash equivalents increased to ¥962,714,745.73, representing 35.32% of total assets, up from 30.88% the previous year[65]. - The company reported a total current assets of approximately CNY 1.96 billion as of June 30, 2022, an increase from CNY 1.82 billion at the beginning of the year, reflecting a growth of about 7.7%[134]. - The total liabilities at the end of the current period are 3.9 billion, indicating a 2.4% increase compared to the previous period[160]. Market and Business Strategy - The company plans to focus on the underwear industry, emphasizing ergonomic research, product design, and brand promotion[27]. - The company operates multiple brands, including Mannifen, Yves, and others, targeting various demographics and product categories[27]. - The company has established a strong sales network covering direct sales, e-commerce, and distribution channels, with partnerships with major retail groups across key cities in China[37]. - The domestic lingerie market continues to grow, with increasing consumer demand for mid-to-high-end products driven by rising income levels and changing consumer preferences[34]. - The company is implementing diversified marketing strategies, including live streaming and member operations, to mitigate the impact of localized pandemic effects[76]. Research and Development - The company launched 12 new patents during the reporting period, focusing on innovative cup-type designs to enhance comfort and fit for users[39]. - Research and development expenses increased by 47.97% to ¥22,842,812.68, primarily due to increased investment in R&D during the reporting period[44]. - The company is investing in new product development, with a budget allocation of 100 million for R&D in the upcoming fiscal year[159]. Risk Management - The company has identified potential risks in its future operations and has outlined corresponding countermeasures[4]. - The company faces risks from the COVID-19 pandemic, which could lead to a decline in performance if domestic outbreaks occur[75]. - Market competition is intensifying due to the rise of new retail and e-commerce models, which may affect sales if the company fails to adapt to consumer trends[75]. - The company has a high inventory ratio relative to total assets, which poses a risk if product sales do not meet expectations[75]. Shareholder and Governance - The company will not distribute cash dividends or issue bonus shares for the reporting period[5]. - The company has commitments from major shareholders regarding share transfer limits, with a maximum of 25% of their holdings allowed to be transferred annually while in office[90]. - The commitments made by shareholders are ongoing and have not been violated, ensuring transparency and accountability[91]. - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[92]. Environmental Compliance - The company strictly complies with national environmental protection laws and regulations, with no incidents of environmental pollution reported during the reporting period[87]. - The Jiangxi factory was recognized as a "provincial green factory" in Jiangxi Province[87]. - There were no administrative penalties related to environmental issues during the reporting period[87]. Financial Reporting and Compliance - The half-year financial report was not audited[94]. - The financial statements were prepared in accordance with the accounting standards issued by the Ministry of Finance[169]. - The company has adopted the continuous operation basis for its financial statements[170].

Financial Performance - The company's operating revenue for 2021 was CNY 2,733,174,948.35, representing a 15.18% increase compared to CNY 2,372,856,866.52 in 2020[20]. - The net profit attributable to shareholders for 2021 was CNY 276,056,917.98, a 30.96% increase from CNY 210,788,148.09 in 2020[20]. - The net profit after deducting non-recurring gains and losses was CNY 271,023,359.25, up 35.09% from CNY 200,617,800.66 in 2020[20]. - The basic earnings per share for 2021 was CNY 0.69, an increase of 30.19% compared to CNY 0.53 in 2020[20]. - The net cash flow from operating activities was CNY 424,297,823.80, a 4.94% increase from CNY 404,333,783.43 in 2020[20]. - Total assets at the end of 2021 were CNY 2,602,662,366.49, a slight decrease of 0.38% from CNY 2,612,650,808.39 at the end of 2020[20]. - The net assets attributable to shareholders decreased by 4.94% to CNY 1,886,706,231.49 from CNY 1,984,679,735.26 at the end of 2020[20]. - The weighted average return on equity for 2021 was 14.25%, an increase of 3.30% from 10.95% in 2020[20]. - The company reported a net profit of CNY 110,388,946.45 in Q1 2021, with total revenue of CNY 670,878,878.03[24]. - The company's total revenue for 2021 reached CNY 2,733.17 million, representing a year-on-year growth of 15.18% compared to CNY 2,372.86 million in 2020[48]. - The net profit attributable to shareholders was CNY 276.06 million, with cash flow from operating activities amounting to CNY 424.30 million, reflecting increases of 52.03% and 59.94% respectively compared to 2019[48]. Revenue Sources - The company's main brand, Mannifen, generated revenue of 182,553.84 million CNY, accounting for 67.07% of total revenue[35]. - The total revenue for the reporting period was 272,180.56 million CNY, with significant contributions from other brands such as Yves and Lanzhuoli[36]. - The company's revenue from the lingerie segment was CNY 1,469.12 million, accounting for 53.76% of total revenue, with a growth of 14.39% year-on-year[51]. - The revenue from the vest category grew by 89.9% compared to 2019, while homewear revenue increased by 51% over the same period[42]. - The company's online sales accounted for 32.67% of total revenue, with a year-on-year growth of 19.11%[49]. - The company's revenue from the Tmall channel reached ¥630.89 million, representing 23.18% of total revenue from online sales[65]. - Direct sales generated approximately ¥1.36 billion, with a year-on-year increase of ¥148.95 million, reflecting a growth of 12.29%[66]. Market and Competitive Position - The domestic lingerie market continues to grow, driven by increasing consumer awareness and demand for mid-to-high-end products[30]. - The company maintains a strong competitive edge through its recognized brands, including Mannifen and Sangfulan, which are classified as famous trademarks in China[39]. - The men's lingerie market in China is identified as having significant growth potential, contrasting with the more developed women's lingerie segment[30]. - The overall economic environment showed fluctuations, with GDP growth of 8.1% in 2021, impacting consumer spending patterns[40]. - The company focuses on product quality and has participated in drafting multiple national industry standards, enhancing its market position[39]. Operational Efficiency - The overall expense ratio decreased to 47.7%[48]. - The average revenue per direct sales store over 12 months was CNY 1.14 million, showing a year-on-year increase of 21.35%[52]. - The company has streamlined its operations by closing underperforming stores, resulting in a revenue increase of 8.55% in the direct sales channel despite a reduction in the number of stores[44]. - The production capacity of the Jiangxi factory is budgeted at 11 million pieces, with a utilization rate of 93.55%, up from 89.91% in the previous year[64]. - The company emphasizes risk management by optimizing production processes and enhancing sales channel networks to improve overall operational efficiency and competitiveness[102]. Research and Development - The company’s R&D expenses increased by 51.26% to ¥36,436,665.22, reflecting a rise in investment in research and development[62]. - The number of R&D personnel increased by 87.96% to 203, indicating a significant investment in product development[75]. - The company is focused on developing ergonomic technologies and enhancing product design to maintain market competitiveness[102]. Governance and Management - The company has a robust governance structure, holding one annual general meeting and six board meetings during the reporting period, ensuring compliance with legal and regulatory requirements[107]. - The company has no controlling shareholder or actual controller, maintaining independence in operations and financial management[108]. - The company has a diverse management team with significant experience in finance and operations[120]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 1,654.18 million[123]. - The highest remuneration was received by Zheng Weifang, the Vice General Manager, totaling CNY 359 million[123]. Social Responsibility and Environmental Compliance - In 2021, the company executed three public welfare projects and conducted 19 donation activities, focusing on women's health and education for left-behind girls[154]. - The company was recognized as a "provincial green factory" in Jiangxi in 2021, with no environmental pollution incidents reported[153]. - The company has ongoing commitments from its major shareholders to limit share transfers to no more than 25% of their holdings annually while in office, and for six months post-departure[157]. - The company has not faced any administrative penalties related to environmental issues during the reporting period, and its production activities comply with national environmental protection laws[153]. Risks and Challenges - The company faces risks from potential COVID-19 outbreaks that could impact performance[99]. - The company is also exposed to market demand fluctuations and competitive risks due to the rapid evolution of consumer preferences in the underwear market[99]. - The company maintains a high inventory level due to its diversified brand strategy, which poses a risk if product sales do not meet expectations, potentially affecting financial performance[102]. Shareholder and Stock Information - The company has a total of 600 million shares repurchased and canceled during the reporting period[114]. - The total number of shares before the change was 411,285,000, which decreased to 410,025,000 after the repurchase and cancellation of 1,260,000 restricted shares due to the departure of 19 incentive plan participants[200]. - The total number of limited sale shares held by shareholders at the end of the period was 212,075,725, down from 218,637,725 at the beginning of the period[199].

Financial Performance - The company's revenue for Q1 2022 was ¥651,467,048.87, a decrease of 2.89% compared to ¥670,878,878.03 in the same period last year[3] - Net profit attributable to shareholders was ¥86,402,730.85, down 21.73% from ¥110,388,946.45 year-on-year[3] - The net profit for the current period was CNY 138,317,627.26, compared to CNY 160,599,557.35 in the previous period, showing a decline of about 13.8%[23] - The net profit for the current period is 100,625,937.83, a decrease of 17.2% compared to 121,535,902.28 in the previous period[24] - The total comprehensive income for the current period is 101,396,219.53, down from 121,633,937.35, reflecting a decline of 16.6%[25] - Basic earnings per share decreased to 0.21 from 0.28, representing a decline of 25%[25] - The company's total profit for the current period is 138,696,504.92, down from 160,920,266.54, a decrease of 13.8%[24] Cash Flow and Liquidity - The net cash flow from operating activities increased by 10.10% to ¥135,562,445.42, compared to ¥123,123,047.34 in the previous year[3] - Cash flow from operating activities generated a net amount of 135,562,445.42, an increase of 10.4% compared to 123,123,047.34 in the previous period[28] - The company received cash from operating activities totaling 689,595,504.72, a decrease of 4.8% from 724,034,851.05 in the previous period[28] - Cash and cash equivalents at the end of the period totaled 921,860,897.32, down from 999,057,575.24, a decrease of 7.9%[30] - The company's cash and cash equivalents increased to CNY 921,862,897.32 from CNY 803,662,569.48, marking a growth of approximately 14.6%[17] - The company reported cash outflows from investing activities of 9,621,569.75, an increase from 6,713,668.02 in the previous period[29] - The net cash flow from financing activities was -10,522,244.84, compared to a positive cash flow of 25,727.70 in the previous period[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,726,072,004.05, reflecting a 4.74% increase from ¥2,602,662,366.49 at the end of the previous year[4] - The total assets as of March 31, 2022, amounted to CNY 2,726,072,004.05, an increase from CNY 2,602,662,366.49 at the beginning of the year[20] - The total liabilities increased slightly to CNY 634,040,657.45 from CNY 614,878,120.03[20] - The total equity attributable to shareholders increased by 4.69% to ¥1,975,230,124.65 from ¥1,886,706,231.49 at the end of the previous year[4] - The company's total equity increased to CNY 2,092,031,346.60 from CNY 1,987,784,246.46, reflecting an increase of about 5.3%[20] Research and Development - The company's R&D expenses rose by 39.68% to ¥10,769,038.47, compared to ¥7,710,058.39 in the same period last year[8] - Research and development expenses increased to CNY 10,769,038.47 from CNY 7,710,058.39, reflecting a growth of approximately 39.5%[23] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 17,135[10] Other Income and Expenses - The company reported a significant increase in other income, which rose by 133.43% to ¥6,389,932.94, compared to ¥2,737,371.92 in the previous year[8] - The company experienced a 71.90% decrease in other current assets, primarily due to a reduction in VAT receivables[8] Operating Costs - Operating costs rose to CNY 515,547,485.21 from CNY 498,686,759.69, indicating an increase of about 3.5%[22] - The inventory balance slightly decreased to CNY 741,873,745.44 from CNY 742,076,438.53, indicating a marginal decline[17] Impact of External Factors - In Q1 2022, the company's revenue decreased due to pandemic-related restrictions in major cities like Xi'an, Shenzhen, and Shanghai[13]

Financial Performance - The company's operating revenue for the third quarter was ¥586,635,050.81, a decrease of 0.99% compared to the same period last year[3]. - The net profit attributable to shareholders was ¥38,244,403.05, down 43.33% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥35,790,493.67, a decrease of 41.97%[3]. - Year-to-date revenue reached ¥1,988,808,460.37, an increase of 20.77% compared to the same period last year[3]. - The basic earnings per share were ¥0.10, down 41.18% year-on-year, while diluted earnings per share were ¥0.09, a decrease of 47.06%[3]. - The net profit for the current period is 295,907,018.44, an increase from 186,799,965.17 in the previous period, representing a growth of approximately 58.4%[20]. - The total profit for the current period is 396,055,698.12, compared to 253,526,864.27 in the previous period, indicating a growth of about 56.0%[20]. - The basic earnings per share increased to 0.65 from 0.43, reflecting a growth of approximately 51.2%[21]. - The total comprehensive income for the current period is 295,087,796.20, compared to 186,726,922.35 in the previous period, which is an increase of approximately 58.0%[21]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,652,569,779.07, reflecting a 1.53% increase from the end of the previous year[3]. - The company's equity attributable to shareholders decreased by 5.75% to ¥1,870,652,425.60 compared to the end of the previous year[3]. - The total liabilities rose to CNY 671,807,039.56 from CNY 542,173,014.54, an increase of about 23.9%[17]. - Total assets amounted to approximately $2.61 billion, a decrease of $34.60 million compared to the previous period[28]. - Non-current assets totaled approximately $785.31 million, reflecting a decrease of $36.92 million[28]. - Current liabilities reached approximately $478.64 million, showing an increase of $16.93 million[29]. - Total liabilities were approximately $542.17 million, down by $34.60 million[29]. - Owner's equity totaled approximately $2.07 billion, remaining unchanged from the previous period[29]. Cash Flow and Investments - The company recorded a net cash flow from operating activities of ¥365,732,846.11, an increase of 15.57% year-to-date[3]. - Cash flow from operating activities for the current period is 365,732,846.11, up from 316,465,536.46 in the previous period, showing an increase of about 15.6%[23]. - The company’s total cash inflow from operating activities is 2,234,404,683.02, compared to 1,841,243,369.86 in the previous period, indicating an increase of about 21.4%[22]. - The company’s total cash outflow from operating activities is 1,868,671,836.91, compared to 1,524,777,833.40 in the previous period, reflecting an increase of approximately 22.6%[23]. - The company raised 18,000,000.00 in cash from investment activities, compared to 4,500,000.00 in the previous period, marking an increase of 300%[23]. - The company plans to invest CNY 30 million in its Canadian subsidiary, EASY INTIMATES LTD., to support market expansion in North America[13]. Research and Development - Research and development expenses increased by 73.57% to ¥24,582,765.92, indicating a significant rise in investment in innovation[9]. - The company reported R&D expenses of CNY 24,582,765.92, which is an increase from CNY 14,163,042.91, reflecting a growth of approximately 73.3%[18]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 17,280, with the top two shareholders holding a combined 66.24% of the shares[11].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,402,173,409.56, representing a 33.01% increase compared to CNY 1,054,223,869.43 in the same period last year[20]. - The net profit attributable to shareholders of the listed company reached CNY 222,004,730.35, a significant increase of 114.70% from CNY 103,401,062.83 in the previous year[20]. - The net cash flow from operating activities was CNY 323,238,394.15, up 71.81% from CNY 188,141,198.27 in the same period last year[20]. - The basic earnings per share increased to CNY 0.55, reflecting a growth of 111.54% compared to CNY 0.26 in the previous year[20]. - The company achieved a total operating revenue of 140,217.34 million yuan for the first half of 2021, with a net profit attributable to shareholders of 22,200.47 million yuan, representing growth of 8.33% and 16.11% respectively compared to the same period in 2019[39]. - The company reported a total cash balance of ¥774,051,469.18, accounting for 31.18% of total assets, down from 33.83% in the previous period[67]. - The company reported a net profit of CNY 56,085,485 from its subsidiary Wuhan Mannifen Garment Co., Ltd., contributing significantly to overall profitability[74]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,482,273,058.86, a decrease of 4.99% from CNY 2,612,650,808.39 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company decreased by 7.70% to CNY 1,831,914,286.59 from CNY 1,984,679,735.26 at the end of the previous year[20]. - Total liabilities amounted to CNY 532,937,680.26, slightly down from CNY 542,173,014.54, a decrease of about 1.73%[140]. - The total equity attributable to the parent company decreased to CNY 1,810,816,910.50 from CNY 2,014,406,592.97, a decrease of 10.1%[146]. Revenue Sources and Sales Channels - The company's main brand sales for the reporting period totaled 137,631.24 million yuan, with "Mannifen" contributing 93,807.29 million yuan (67.16%) and "Yves" contributing 26,455.28 million yuan (18.94%)[33]. - The company launched a new brand "UNDERSTANCE" in North America in June 2021, targeting Canadian and American consumers through an independent website[45]. - The company's direct sales channel revenue increased by 9.48% compared to 2019, despite a reduction in the number of direct stores[43]. - Online sales revenue reached ¥435,004,492.48, with a year-on-year increase of ¥75,069,992.67, reflecting a growth of 17.25%[54]. - Sales from franchisees and distributors accounted for over 30% of total sales revenue[58]. Market and Brand Strategy - The company focuses on the lingerie industry, engaging in ergonomic research, product design, manufacturing, marketing, and brand promotion[27]. - The company operates multiple brands, including Mannifen, Yves, and others, covering various demographics and product categories[27]. - The company has implemented a multi-brand development strategy to cater to different customer segments, including women's, men's, and children's products[27]. - The overall domestic lingerie market is experiencing growth, with increasing consumer demand for mid-to-high-end products and a shift towards personalized and experiential consumption[35]. Research and Development - The company emphasizes research and development, having participated in the formulation of multiple national industry standards[37]. - Research and development expenses increased by 75.65% to ¥15,436,996.71 from ¥8,788,735.67, indicating a significant investment in innovation[47]. - The company has allocated 4.28% of its revenue towards research and development for new technologies[166]. Operational Efficiency - The average revenue for direct-operated stores open for more than 12 months was ¥587,700, reflecting a year-over-year growth of 46.16%[50]. - The average inventory turnover days for clothing decreased by 9.86% to 253 days, indicating improved inventory management[62]. - The company has successfully reduced its management expenses to CNY 18,403,290.23 from CNY 36,159,794.64, demonstrating improved operational efficiency[152]. Shareholder Information - The total number of shares decreased by 1,260,000, resulting in a total of 410,025,000 shares outstanding[119]. - The largest shareholder, Lv Xingping, holds 33.76% of the shares, totaling 34,606,350 shares[123]. - The total number of shareholders at the end of the reporting period was 19,466[123]. Environmental and Social Responsibility - The company has not experienced any environmental pollution incidents and complies with national environmental protection laws[87]. - The company engaged in a public welfare project, donating professional post-operative bras and matching prostheses to breast cancer patients in six cities[88]. Future Outlook - The company plans to continue expanding its online sales channels, including partnerships with platforms like JD and Douyin, to enhance brand exposure and customer convenience[59]. - The company plans to expand its market presence and invest in new product development to drive future growth[149]. - The company anticipates a revenue growth of 10% in the next fiscal year due to increased demand for its products[166].

Financial Performance - The company's revenue for the first quarter of 2021 reached ¥670,878,878.03, representing a 60.35% increase compared to ¥418,382,625.60 in the same period last year[8] - Net profit attributable to shareholders was ¥110,388,946.45, a significant increase of 530.49% from ¥17,508,514.93 year-on-year[8] - The net cash flow from operating activities was ¥123,123,047.34, up 86.81% from ¥65,906,496.46 in the previous year[8] - Basic earnings per share increased to ¥0.28, a 460.00% rise compared to ¥0.05 in the same period last year[8] - Net profit for the reporting period reached ¥121,535,902.28, a significant increase of 572.19% compared to ¥18,080,679.64 in the same period last year[16] - Revenue growth led to a corresponding increase in net profit attributable to the parent company, which amounted to ¥110,388,946.45, up 530.49% from ¥17,508,514.93[16] - Cash generated from operating activities increased by 86.81% to ¥123,123,047.34, compared to ¥65,906,496.46 in the previous year, driven by higher revenue and increased cash receipts[16] - The total comprehensive income for the current period was ¥121,633,937.35, up from ¥18,114,193.74 in the previous period[47] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,758,394,363.77, reflecting a 5.58% increase from ¥2,612,650,808.39 at the end of the previous year[8] - The total assets of the company as of March 31, 2021, were ¥2,758,394,363.77, an increase from ¥2,612,650,808.39 at the end of 2020[34] - The total liabilities decreased, with accounts payable dropping to ¥126,752,204.37 from ¥165,891,765.27, indicating improved cash flow management[34] - The total liabilities increased to ¥557,314,852.94 from ¥542,173,014.54, representing a rise of about 2.4%[38] - The total equity attributable to shareholders rose to ¥2,099,634,496.41 from ¥1,984,679,735.26, marking an increase of approximately 5.8%[38] - Total liabilities decreased from ¥576,777,827.69 to ¥542,173,014.54, a reduction of ¥34,604,813.15[61] Cash Flow - The company reported a significant increase in cash flow from operating activities, totaling ¥724,034,851.05 compared to ¥504,610,299.37 in the previous period[52] - The net cash flow from operating activities was 123,123,047.34, an increase of 86.5% compared to 65,906,496.46 in the previous period[53] - Total cash outflow from operating activities amounted to 600,911,803.71, up from 438,703,802.91, reflecting a 37% increase[53] - Cash inflow from financing activities totaled 18,000,000.00, with cash outflow of 17,974,272.30, resulting in a net cash flow of 25,727.70[54] - The ending cash and cash equivalents balance was 999,057,575.24, compared to 762,667,038.23 in the previous period, marking a 31% increase[54] Research and Development - Research and development expenses rose by 56.16% to ¥7,710,058.39, indicating increased investment in innovation[15] - Research and development expenses were reported at ¥7,710,058.39, up from ¥4,937,373.74, indicating a focus on innovation and product development[45] Operational Efficiency - The company reported a decrease in operating expenses by 91.96% to ¥223,165.99, primarily due to last year's donations for COVID-19 relief efforts[16] - The company's net profit margin improved, with net profit increasing significantly due to higher revenues and controlled costs[44] - The company experienced a 387.72% increase in advance receipts, totaling ¥3,624,595.34, primarily due to increased rental prepayments[15] - The company reported a decrease in inventory from ¥426,183,136.69 to ¥325,269,226.71, reflecting improved inventory management[38] Investments and Subsidiaries - The company established a wholly-owned subsidiary in Washington State, USA, with an investment of $30 million approved by the board on January 25, 2021[17] - The company has not engaged in any securities or derivative investments during the reporting period, maintaining a conservative investment strategy[21][22] Compliance and Regulations - The company strictly adhered to the fundraising management regulations, with a remaining balance of ¥722.00 million in the special account for raised funds as of March 31, 2021[25] - The first quarter report was not audited, indicating preliminary financial results[67] Future Outlook - The company plans to expand its market presence and invest in new technologies to drive future growth[44]

Financial Performance - The company's operating revenue for 2020 was ¥2,372,856,866.52, a decrease of 8.22% compared to ¥2,585,324,792.03 in 2019[16] - The net profit attributable to shareholders for 2020 was ¥210,788,148.09, an increase of 16.09% from ¥181,579,680.02 in 2019[16] - The net cash flow from operating activities increased by 52.41% to ¥404,333,783.43 in 2020, compared to ¥265,288,415.24 in 2019[16] - Basic earnings per share rose to ¥0.53 in 2020, up 12.77% from ¥0.47 in 2019[16] - Total assets at the end of 2020 were ¥2,612,650,808.39, reflecting a 4.08% increase from ¥2,510,119,655.11 at the end of 2019[17] - The net assets attributable to shareholders increased by 7.00% to ¥1,984,679,735.26 at the end of 2020, compared to ¥1,854,890,496.78 at the end of 2019[17] - The company reported a diluted earnings per share of ¥0.53 in 2020, an increase of 15.22% from ¥0.46 in 2019[16] - The weighted average return on equity was 10.95% in 2020, up from 10.05% in 2019[17] Revenue Breakdown - The company's total revenue for Q1, Q2, Q3, and Q4 was approximately ¥418.38 million, ¥635.84 million, ¥592.50 million, and ¥726.13 million respectively, showing a significant increase in Q2[20] - The net profit attributable to shareholders for the same quarters was ¥17.51 million, ¥85.89 million, ¥67.49 million, and ¥39.90 million, indicating a peak in Q2[20] - The company's revenue from the apparel segment was approximately ¥2.34 billion, with a year-on-year decrease of 8.77%[47] - The main brand "Mannifen" generated CNY 156.87 million in revenue, accounting for 66.50% of total revenue[39] Cash Flow and Dividends - The company plans to distribute a cash dividend of ¥10 per 10 shares, totaling ¥410,025,000 shares as the base[4] - The company reported a significant increase in profit distribution ratio from 90.64% in 2019 to 194.52% in 2020[111] - The cash dividend distribution plan aims to provide stable returns to investors and does not compromise the company's liquidity[113] Market and Industry Trends - The domestic lingerie industry continues to grow, with increasing consumer demand for mid-to-high-end products driven by rising income levels[32] - The company has established a multi-brand strategy to cater to different consumer segments, including women's, men's, and children's lingerie[24] - The company is recognized as a leading brand in the lingerie market, with its trademarks "Mannifen" and "Sanfuran" being acknowledged as famous trademarks in China[32] Operational Adjustments - The company has adapted its production capabilities in response to the COVID-19 pandemic, including the conversion of some workshops to produce masks[31] - The company has seen a 77.55% decrease in construction in progress compared to the end of last year, primarily due to the transfer of the Jiangxi Mannifen Industrial Park warehouse center to fixed assets[33] - The company reported a 94.05% decrease in other non-current assets, mainly due to a reduction in prepaid fixed asset procurement funds[33] Sales and Marketing Strategies - The company is actively expanding its market presence and enhancing brand value through collaborations with celebrities and influencers[39] - The company emphasizes the importance of adapting to new retail trends, including social e-commerce and live-streaming sales, to enhance user experience[100] Research and Development - The company holds 14 invention patents and has participated in drafting multiple national industry standards[35] - Research and development expenses increased by 19.41% to ¥24.09 million, indicating a focus on innovation[55] Inventory and Procurement - The average inventory turnover days for clothing stood at 298 days, with a total inventory of 1,626.49 million pieces, reflecting a 5.97% decrease in inventory due to reduced purchases[67] - The total procurement amount from the top five suppliers was ¥238.20 million, representing 35.27% of the annual procurement[53] Corporate Governance - The company has maintained complete independence from shareholders holding more than 5% of its shares in terms of business, personnel, assets, institutions, and finances[189] - The company’s independent directors attended all board meetings and did not raise any objections to company matters during the reporting period[192] Employee and Management Information - The total number of employees in the company is 6,326, with 2,030 in the parent company and 4,296 in major subsidiaries[182] - The company has a comprehensive training system that includes onboarding, professional knowledge training, job skills training, legal knowledge training, safety education, product quality training, and management training[185] Risk Management - The company faces risks from the COVID-19 pandemic, market demand fluctuations, and intense competition in the lingerie sector[99] - The company is committed to improving risk management and enhancing its competitive strength through product differentiation and optimized management systems[100]

Financial Performance - Net profit attributable to shareholders increased by 167.52% to CNY 67,487,117.08 for the current period[7] - Operating income for the current period was CNY 592,503,646.42, reflecting a 2.03% increase year-on-year[7] - The weighted average return on net assets was 3.53%, up from 0.81% in the previous year[7] - Total operating revenue for the current period reached ¥592,503,646.42, compared to ¥580,742,425.07 in the previous period[43] - Total operating revenue decreased to CNY 1,646,727,515.85 from CNY 1,875,054,796.33, representing a decline of approximately 12.16% year-over-year[52] - Net profit for the period increased to CNY 63,510,955.95, compared to CNY 51,030,242.58 in the previous period, reflecting a growth of about 24.4%[50] - Total comprehensive income for the period was CNY 74,700,933.04, compared to CNY 34,507,044.97 in the previous period, showing an increase of about 116.5%[46] - Total profit for the period was CNY 253,526,864.27, down from CNY 318,095,936.62, reflecting a decrease of approximately 20.3%[53] Cash Flow and Liquidity - The net cash flow from operating activities rose by 49.33% to CNY 128,324,338.19[7] - Cash flow from operating activities was 316,465,536.46 yuan, an increase of 111.2% from 149,379,971.70 yuan in the previous period[62] - The company reported a net cash inflow from operating activities of 1,841,243,369.86 yuan, down from 2,116,881,413.85 yuan, a decline of 13.0%[60] - Total cash inflow from operating activities was 1,335,627,626.52, down from 1,513,643,385.23 in the previous period, indicating a decrease in operational cash generation[66] - The total cash and cash equivalents at the end of the period reached 818,057,531.30, up from 641,356,919.82 in the previous period, indicating a strong liquidity position[63] Assets and Liabilities - Total assets increased by 4.70% to CNY 2,628,086,113.41 compared to the end of the previous year[7] - Total liabilities increased to ¥608,048,875.24 from ¥583,801,356.77, indicating a rise in financial obligations[37] - Total equity attributable to shareholders increased to ¥1,948,132,691.63 from ¥1,854,890,496.78, demonstrating growth in shareholder value[37] - The total assets increased to ¥2,403,826,076.95 from ¥2,302,017,944.52, indicating overall growth in the company's asset base[41] Research and Development - Research and development expenses increased by 41.94% to CNY 14,163,042.91 compared to the same period last year[15] - Research and development expenses increased to ¥5,374,307.24 from ¥3,479,248.22, reflecting a commitment to innovation[44] - Research and development expenses increased to CNY 14,163,042.91 from CNY 9,978,418.34, marking a rise of about 41.9% year-over-year[53] - Research and development expenses increased to 10,927,131.07 yuan, up from 4,719,706.95 yuan, indicating a growth of 131.5%[56] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,534[11] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[12] - The company plans to repurchase and cancel 155,000 shares of restricted stock at a price of 3.73 per share, which will adjust the total number of shares to 411,285,000[17] Other Income and Expenses - Other income surged by 158.52% to CNY 14,383,984.23, mainly due to increased government subsidies[15] - The company reported a decrease in sales expenses to CNY 635,551,383.41 from CNY 752,712,612.27, a reduction of about 15.6%[53] - Sales expenses decreased significantly to 399,742,747.12 yuan from 565,364,439.78 yuan, a reduction of 29.3%[56] Financial Reporting and Compliance - The company has no outstanding commitments or guarantees during the reporting period[28] - There were no significant changes in the company's operational contracts or financial investments during the reporting period[26] - The company implemented new revenue recognition standards, reclassifying certain liabilities to contract liabilities[72] - The adjustment for the new revenue standards reflects a proactive approach to compliance and financial reporting accuracy[72] - The company has not audited its third-quarter report, which may affect the reliability of the financial data presented[78]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥1.05 billion, a decrease of 18.55% compared to ¥1.29 billion in the same period last year[16]. - The net profit attributable to shareholders was approximately ¥103.40 million, down 45.92% from ¥191.21 million year-on-year[16]. - The net profit after deducting non-recurring gains and losses was approximately ¥103.73 million, a decrease of 45.02% compared to the previous year[16]. - The company achieved total operating revenue of 1,054.22 million yuan, a year-on-year decrease of 18.55%[35]. - The net profit attributable to shareholders was 103.40 million yuan, down 45.92% year-on-year[35]. - The company reported a net increase in cash and cash equivalents of -¥2,244,525.29, an improvement of 96.56% compared to -¥65,249,945.44 in the previous year[43]. - The company reported a loss of RMB 15.61 million in the Jiangxi factory due to reduced orders and fixed costs during the COVID-19 pandemic[69]. - The company reported a decrease in profit distribution amounting to -174,960,000.00 yuan, indicating a reduction in shareholder payouts[171]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 196.54%, reaching approximately ¥188.14 million compared to ¥63.44 million in the previous year[16]. - The company's cash flow from operating activities reached 188.14 million yuan, an increase of 196.54% year-on-year[39]. - Cash flow from operating activities generated a net amount of ¥188,141,198.27, significantly up from ¥63,444,762.63, marking an increase of approximately 196%[152]. - Cash and cash equivalents at the end of the period totaled ¥705,820,397.83, compared to ¥577,752,948.14 at the end of the previous year, an increase of about 22%[154]. - The total cash inflow from financing activities was $94,680,250.00, while cash outflows amounted to $164,753,050.00, resulting in a net cash flow from financing activities of -$164,753,050.00[157]. - The company reported a significant increase in cash and cash equivalents, with a year-over-year increase of approximately 74%[157]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥2.46 billion, a decrease of 1.89% from the previous year[16]. - The company's total liabilities decreased to CNY 518,262,433.70 from CNY 583,801,356.77[135]. - The company's total equity increased to CNY 1,944,480,130.45 from CNY 1,926,318,298.34[136]. - The company's total liabilities at the end of the current period are 1,503,090,000.00 yuan, indicating the company's leverage position[169]. Operational Strategy - The company operates multiple brands, including "Mannifen," "Ivis," and "Lanzhuoli," focusing on various demographics and product categories such as lingerie, homewear, and beauty products[23]. - The company has adopted a multi-brand development strategy to enhance market positioning and customer targeting[23]. - The company is focusing on cost control and diversified marketing strategies to alleviate the negative impacts of the pandemic[73]. - The company plans to enhance its product competitiveness through ergonomic technology development and collaboration with renowned designers[73]. Market and Industry Impact - The company faced significant impacts from the COVID-19 pandemic, leading to delays in production and logistics, resulting in a substantial decline in revenue[47]. - The company has identified risks associated with changing market demands, emphasizing the need to accurately gauge consumer preferences in the lingerie market[70]. - The establishment of wholly-owned subsidiaries in the US and Canada presents operational risks due to differing legal and cultural environments[73]. Research and Development - Research and development expenses increased by 35.23% to ¥8,788,735.67, compared to ¥6,499,170.12 in the previous year[43]. - Research and development expenses rose to ¥5,593,362.04 from ¥3,012,567.27, representing an increase of approximately 86%[148]. Corporate Governance - The company has not made any changes to the use of raised funds, maintaining a 0.00% change ratio[56]. - The company strictly adhered to the fundraising management regulations, ensuring accurate disclosure of fund usage without any violations[57]. - The company has not engaged in any significant non-equity investments during the reporting period[64]. - No significant related party transactions occurred during the reporting period[88]. Shareholder Information - The company completed the repurchase and cancellation of 285,000 restricted stocks, reducing total shares to 411,440,000[86]. - A total of 11,292,500 restricted stocks were released for trading, accounting for 2.74% of the company's total equity[87]. - The largest shareholder, Lv Xingping, holds 33.64% of the shares, totaling 138,425,400[115]. - The second-largest shareholder, Lin Shengzhi, holds 32.37% of the shares, totaling 133,194,600[115]. Compliance and Reporting - The company has not conducted an audit for its semi-annual financial report[81]. - The financial statements are prepared based on the going concern principle and comply with the relevant accounting standards[177][180]. - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[178].