Financial Performance - The company's operating revenue for 2019 was CNY 2,585,324,792.03, representing a 9.79% increase compared to CNY 2,354,780,015.37 in 2018[16] - The net profit attributable to shareholders for 2019 was CNY 181,579,680.02, which is a 9.61% increase from CNY 165,666,770.67 in 2018[16] - The net cash flow from operating activities increased by 104.46% to CNY 265,288,415.24 in 2019, up from CNY 129,749,601.52 in 2018[16] - The basic earnings per share for 2019 was CNY 0.4670, reflecting a 9.60% increase from CNY 0.4261 in 2018[16] - The total assets at the end of 2019 were CNY 2,510,119,655.11, a 3.45% increase from CNY 2,426,468,131.68 at the end of 2018[16] - The net assets attributable to shareholders at the end of 2019 were CNY 1,854,890,496.78, which is a 2.57% increase from CNY 1,808,430,718.51 at the end of 2018[16] - The weighted average return on equity for 2019 was 10.05%, an increase from 9.34% in 2018[16] Dividend Distribution - The company plans to distribute a cash dividend of CNY 4 per 10 shares, totaling CNY 164,576,000 based on 411,440,000 shares[4] - The cash dividend payout ratio for 2019 was 90.64% of the net profit attributable to ordinary shareholders[105] - The cash dividend payout ratio for 2018 was 105.61% of the net profit attributable to ordinary shareholders[105] - The total distributable profit for 2019 was 656,966,006.71 RMB, with the cash dividend representing 100% of the profit distribution[106] - The cash dividend for 2019 is subject to adjustment based on any changes in the total share capital due to share repurchases[107] Market and Business Strategy - The company has expanded its business scope to include "transport logistics auxiliary services" as part of its operational strategy[14] - The company operates multiple brands including "Mannifen," "Yves," and "Lanzhuoli," focusing on ergonomic research and product design in the lingerie industry[25] - The domestic lingerie market is experiencing growth, with increasing consumer awareness and demand for mid-to-high-end products, indicating a favorable market environment for the company[33] - The company has established itself as a leading brand in the lingerie sector, with its trademarks recognized as famous brands in China[34] - The company maintains a multi-brand strategy, which allows for complementary positioning and design styles across its various brands, catering to different consumer segments[25] - The company plans to continue transforming business units into subsidiaries to enhance market competitiveness and employee motivation[50] Sales and Revenue Channels - The company's main brand, Mannifen, generated 168,432.38 million yuan in revenue, accounting for 65.60% of total annual revenue[44] - The direct sales channel contributed 125,065.12 million yuan, representing 48.71% of total revenue, with an 8.00% year-on-year increase[47] - E-commerce sales reached 76,521.18 million yuan, making up 29.80% of total revenue, with a growth of 6.82% year-on-year[47] - The revenue from the clothing production and sales segment was ¥2,565,474,637.75, accounting for 99.24% of total revenue, with a year-on-year growth of 9.73%[52] Operational Efficiency and Investments - The company is focusing on information system construction to improve operational efficiency and reduce costs, including the implementation of an automated sorting system[49] - The company has committed to using raised funds strictly according to regulatory requirements, ensuring transparency in fund management[83] - The company has established several new subsidiaries, including Shanghai Huigao and Shenzhen Huicheng, with varying impacts on net profit[90] - The company has a long-term strategy for market expansion through the establishment of new subsidiaries in various regions[78] Research and Development - R&D expenses increased by 19.85% to ¥20,172,777.39, while financial expenses decreased by 15.66% to -¥10,062,746.45[65] - The number of R&D personnel rose by 36.36% to 165, representing 2.16% of total employees[66] - The company is committed to maintaining its leading position in patent filings within the industry while advancing ergonomic technology development[96] Corporate Governance and Compliance - The company has committed to maintaining stable governance and will not propose significant changes to the board during the current term[109] - The company has not reported any violations regarding the use of raised funds, adhering to the established management protocols[83] - The company has engaged the domestic accounting firm Lixin for auditing services, with a fee of 900,000 RMB and a continuous service period of 10 years[121] - The company has not faced any situations that could lead to suspension or termination of listing following the annual report disclosure[121] Social Responsibility - In 2019, the company executed 3 public welfare projects and conducted 16 public welfare activities through the Shenzhen Huijie Charity Foundation[142] - The "Care for Breast Cancer" project donated post-operative bras to breast cancer patients in 14 cities, enhancing awareness and support for breast cancer recovery[142] - The "Dandelion Project" provided educational resources and donated bras to left-behind girls in rural areas, impacting 16 schools in Guangdong province[142] Employee and Management Structure - The total number of employees in the company is 7,644, with 3,158 in the parent company and 4,486 in major subsidiaries[189] - The company has a strong management team with extensive experience in various sectors, enhancing its operational capabilities[178] - The company has a comprehensive training system that includes onboarding, professional knowledge, job skills, legal knowledge, safety education, product quality, and management training to enhance employee skills and safety awareness[192] Risks and Challenges - The COVID-19 pandemic has significantly impacted production, sales, and logistics, with the company unable to accurately assess the long-term effects on operations[93] - The company faces risks from changing market demands, including the need to adapt to faster trends in consumer preferences for quality and fashion in the lingerie market[93] - The company has established wholly-owned subsidiaries in the US and Canada, facing operational risks due to differing legal and cultural environments[96]

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。 深圳汇洁集团股份有限公司 2020 年第一季度报告 2020 年 04 月 1 所有董事均已出席了审议本次季报的董事会会议。 公司负责人吕兴平、主管会计工作负责人王静及会计机构负责人(会计主管 人员)殷君声明：保证季度报告中财务报表的真实、准确、完整。 2 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增 | | | --- | --- | --- | --- | --- | | | | | 减 | | | 营业收入（元） | 418,382,625.60 | 649,406,967.26 | -35.57% | | | 归属于上市公司股东的净利润（元） | 17,508,514.93 | 114,109,773.52 | -84.66% | | | 归属于上市公司股东的扣除非经常性 损益的净利润（元） | 18,878,62 ...

Financial Performance - Net profit attributable to shareholders surged by 10,163.75% to CNY 25,226,651.67 for the current period[7] - Operating revenue rose by 9.01% to CNY 580,742,425.07 for the current period[7] - Basic earnings per share increased by 10,716.67% to CNY 0.0649[7] - Net cash flow from operating activities reached CNY 85,935,209.07, a significant increase of 2,272.20%[7] - The weighted average return on equity was 2.72%, reflecting a slight increase of 2.71%[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 21.39% to CNY 22,268,627.41[7] - Total revenue for the current period reached ¥580,742,425.07, an increase from ¥532,744,523.41 in the previous period[35] - Net profit for the current period was ¥34,507,044.97, significantly higher than ¥9,780,241.21 in the previous period[36] - Total operating revenue for the current period is ¥1,875,054,796.33, an increase of 11.4% compared to ¥1,683,622,345.58 in the previous period[43] - Operating profit for the current period is ¥316,252,785.00, up from ¥287,624,038.56, reflecting a growth of 9.2%[44] - Net profit for the current period is ¥243,520,863.62, compared to ¥206,058,177.11 in the previous period, representing an increase of 18.2%[44] - Total comprehensive income for the current period is ¥51,030,242.58, significantly higher than ¥9,586,176.65 in the previous period[41] - The total comprehensive income attributable to the parent company was ¥216,432,380.01, up from ¥179,978,016.42, marking a growth of 20.2%[46] Assets and Liabilities - Total assets increased by 5.20% to CNY 2,552,763,556.94 compared to the end of the previous year[6] - The total assets increased to ¥2,552,763,556.94 from ¥2,426,468,131.68, reflecting overall growth in the company's financial position[27] - The total assets of the company increased to ¥2,293,212,942.69 from ¥2,194,953,081.16[33] - The company's equity attributable to shareholders rose to ¥1,877,440,111.87, compared to ¥1,819,154,795.69 in the previous period[33] - The total liabilities increased to ¥415,772,830.82 from ¥375,798,285.47[32] - Total liabilities consist of current liabilities of CNY 328,060,506.36 and non-current liabilities of CNY 47,737,779.11[66] - Total equity attributable to the parent company's owners is CNY 1,808,430,718.51, with total equity including minority interests at CNY 1,860,370,957.89[63] Cash Flow - Cash received from investment recovery was down 100% to ¥0, attributed to last year's recovery of financial products[17] - Cash paid for investments decreased by 100% to ¥0, also due to last year's purchase of financial products[17] - The cash flow from operating activities was ¥149,379,971.70, a decrease of 16.3% from ¥178,490,951.90 in the previous period[54] - The company reported a cash inflow from operating activities of ¥2,116,881,413.85, compared to ¥1,962,523,617.26 in the previous period, indicating an increase of 7.9%[54] - Total cash inflow from financing activities was 105,180,250.00, while cash outflow was 203,315,913.83, resulting in a net cash flow of -98,135,663.83, which is an improvement compared to -137,824,435.63 in the previous period[55] - The total cash inflow from investment activities was 85,403,340.45, significantly lower than 962,825,139.18 in the previous period, indicating a reduction in investment returns[58] - The company’s investment activities resulted in a net cash outflow of ¥52,987,747.51, compared to a net outflow of ¥47,587,682.79 in the previous period[54] Shareholder Information - The company reported a total of 17,322 common shareholders at the end of the reporting period[11] - The top two shareholders, Lü Xingping and Lin Shengzhi, hold 33.62% and 32.35% of shares respectively[11] - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[12] - Cash paid for dividends increased by 46.88% to ¥203,315,913.83 during the reporting period[17] - The company paid 174,960,000.00 in dividends, an increase from 116,640,000.00 in the previous period, reflecting a commitment to returning value to shareholders[58] Research and Development - R&D expenses decreased by 78.52% to ¥9,978,418.34 due to the reclassification of brand designer costs into management expenses[16] - The company reported a significant reduction in research and development expenses to ¥3,479,248.22 from ¥15,515,800.28[35] - Research and development expenses decreased to ¥9,978,418.34 from ¥46,462,313.18, a reduction of 78.5%[43] - Research and development expenses significantly decreased to ¥4,719,706.95 from ¥26,729,283.00, a reduction of 82.4%[48] Other Financial Metrics - Other income fell by 30.91% to ¥5,563,868.34 primarily due to a reduction in government subsidies[16] - Investment income dropped by 100% to ¥0 as there were no investment returns from financial products during the period[16] - Sales expenses increased to ¥752,712,612.27 from ¥628,214,273.89, an increase of 19.8%[43] - The company reported a financial expense of -¥7,132,478.69, slightly improved from -¥7,467,350.13 in the previous period[43] - The total operating cost for the current period is ¥1,536,137,669.84, an increase from ¥1,390,489,405.90, reflecting a growth of 10.5%[43] - The company's total revenue for the current period reached ¥1,360,395,275.56, an increase of 3.9% compared to ¥1,313,099,559.91 in the previous period[48] - Operating profit decreased to ¥250,127,177.93, down 22.4% from ¥322,375,244.45 in the previous period[48] - Net profit for the current period was ¥209,926,846.18, a decline of 24.0% compared to ¥276,022,672.92 in the previous period[50]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,294,312,371.26, representing a 12.46% increase compared to CNY 1,150,877,822.17 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 191,205,728.34, up 6.38% from CNY 179,732,232.56 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was CNY 188,654,232.82, an increase of 8.10% compared to CNY 174,523,095.54 in the previous year[17]. - The basic earnings per share for the reporting period was CNY 0.49, up 6.52% from CNY 0.46 in the same period last year[17]. - The weighted average return on equity was 10.20%, an increase of 0.38% compared to 9.82% in the previous year[17]. - The company reported a significant increase in inventory, which rose to RMB 756,874,518.21, accounting for 31.05% of total assets, compared to 24.17% in the previous year[53]. - The company’s sales in the South China region accounted for 47.84% of total revenue, with a year-on-year growth of 12.48%[49]. - The company reported a total profit of ¥273,555,062.94, up 4.63% from ¥262,343,717.20 in the first half of 2018[151]. Cash Flow and Investments - The net cash flow from operating activities decreased by 63.72% to CNY 63,444,762.63, down from CNY 174,868,363.40 in the same period last year[17]. - The company’s financing activities generated a net cash outflow of RMB 88,942,806.63, a decrease of 35.65% compared to RMB 138,224,435.63 in the previous year, primarily due to the issuance of restricted shares[46]. - The total cash outflow from investing activities was CNY 39,948,333.67 in the first half of 2019, significantly lower than CNY 606,283,966.04 in the first half of 2018[161]. - The company made a significant equity investment of 10,000,000 yuan in Dalian Xindi Apparel, acquiring a 100% stake[56]. - The company has ongoing investments in various apparel and textile sectors, focusing on long-term growth strategies[56]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,437,371,496.95, a slight increase of 0.45% from CNY 2,426,468,131.68 at the end of the previous year[17]. - The total liabilities decreased to ¥545,763,583.64 from ¥566,097,173.79, a reduction of approximately 3.7%[142]. - The company reported a cash balance of RMB 581,016,216.82 as of June 30, 2019, down from RMB 645,494,303.66 at the end of 2018[138]. - Accounts receivable increased to RMB 224,843,943.16 from RMB 191,657,671.39 year-over-year[138]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company has publicly issued 54,000,000 shares at a price of CNY 13.10 per share[63]. - The largest shareholder, Lü Xingping, holds 33.62% of the shares, totaling 34,606,350 shares[123]. - The second-largest shareholder, Lin Shengzhi, holds 32.35% of the shares, totaling 33,298,650 shares[123]. Operational Strategy - The company operates eight main brands and multiple sub-brands, focusing on a multi-brand development strategy to cater to diverse consumer needs[30]. - The company continues to enhance brand value through collaborations with celebrities and various promotional activities, increasing brand awareness[38]. - The company has established a strong sales network with 1,333 direct sales terminals and 1,668 distribution stores, covering major cities and towns[31]. Risks and Challenges - The company faces risks related to market demand changes, competition, brand infringement, raw material price fluctuations, multi-brand operations, and product quality[73]. - Operating expenses, including advertising, decoration, and human resources, are on the rise, posing a risk to profitability if revenue does not cover these costs[74]. - The company faces risks from the rapid development of new retail sales formats, which could lead to sales channel disruptions and performance declines if not adapted to market changes[74]. Compliance and Governance - The company strictly adheres to the regulations regarding the management and use of raised funds[63]. - The company has not faced any environmental pollution incidents or penalties for violating environmental laws during the reporting period[108]. - The company adheres to the accounting standards set by the Ministry of Finance and ensures that its financial statements reflect its financial position accurately[189].

股票代码：002763 股票简称：汇洁股份 公告编号：2019-053 深圳汇洁集团股份有限公司 关于参加 2019 年深圳上市公司投资者网上集体接待日 活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流工作，深圳汇洁集团股份有限公司（以下 简称"公司"）将参加由深圳上市公司协会、深圳市全景网络有限公司共同举办 的"改革创新发展 沟通互信共赢"——深圳辖区上市公司 2019 年度投资者网上 集体接待日主题活动，现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平台，采取网 络远程的方式举行，投资者可以登录"全景•路演天下"网站（http://rs.p5w.net/） 或关注微信公众号：全景财经，参与公司本次投资者集体接待日活动，活动时间 为 2019 年 9 月 3 日 14:00 至 18:00。届时公司的董事会秘书邹燕女士、财务总监 王静女士将通过网络文字交流形式与投资者进行沟通。 欢迎广大投资者积极参与。 | --- | --- | --- | --- | |-------|------ ...

Revenue and Profit - Revenue for Q1 2019 reached ¥649,406,967.26, an increase of 15.32% compared to ¥563,149,028.16 in the same period last year[6] - Net profit attributable to shareholders was ¥114,109,773.52, reflecting an 8.07% increase from ¥105,590,719.74 year-over-year[6] - Basic earnings per share rose to ¥0.29, up 7.41% from ¥0.27 in the previous year[6] - Total operating revenue for the current period reached ¥649,406,967.26, an increase of 15.3% compared to ¥563,149,028.16 in the previous period[32] - Net profit for the current period was ¥123,333,472.41, representing a growth of 8.9% from ¥114,181,439.35 in the previous period[33] - The company's total revenue for the current period reached ¥503,871,189.24, an increase from ¥449,727,346.87 in the previous period, representing a growth of approximately 12%[35] - The net profit for the current period was ¥84,067,203.60, compared to ¥74,847,440.20 in the previous period, indicating a year-over-year increase of about 12.5%[37] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,501,838,738.81, a 3.11% increase from ¥2,426,468,131.68 at the end of the previous year[6] - Total assets increased to ¥2,262,777,240.97, compared to ¥2,194,953,081.16 at the end of the previous period, reflecting a growth of 3.1%[30] - Total liabilities decreased to ¥359,555,241.68, down from ¥375,798,285.47, indicating a reduction of 4.3%[30] - Total equity attributable to shareholders of the parent company rose to ¥1,903,221,999.29, an increase of 4.6% from ¥1,819,154,795.69[30] Cash Flow - The net cash flow from operating activities was negative at -¥9,896,307.18, a decline of 115.58% compared to ¥63,512,316.79 in the same period last year[6] - Cash flow from operating activities turned negative at -¥9,896,307.18 compared to ¥63,512,316.79 in the previous year, mainly due to payments for inventory purchases and repayment of receivables[15] - Cash flow from investing activities improved by 34.85% to -¥21,919,352.97 compared to -¥33,645,754.25 in the previous year[15] - Cash flow from financing activities increased significantly by 2150.00% to ¥4,500,000.00 due to increased investments from minority shareholders[15] - The company generated cash inflows from operating activities totaling ¥678,154,487.07, compared to ¥582,276,227.00 in the previous period, showing an increase of approximately 16.5%[41] - The company raised ¥4,500,000.00 from minority shareholders, compared to ¥200,000.00 in the previous period, indicating a substantial increase in financing activities[42] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,203[11] - The largest shareholder, Lü Xingping, holds 35.60% of the shares, amounting to 138,425,400 shares[11] Research and Development - R&D expenses decreased by 35.77% to ¥3,321,459.44 due to reduced investment in research and development[15] - Research and development expenses decreased to ¥3,321,459.44 from ¥5,171,281.18, a reduction of 35.7%[32] - Research and development expenses increased to ¥1,443,223.54 from ¥461,017.32, indicating a significant investment in innovation[35] Other Financial Metrics - The weighted average return on equity was 6.12%, an increase of 0.29% from the previous year[6] - Accounts receivable increased by 35.29% to ¥259,303,226.20 due to sales growth and increased customer payments[15] - Other current assets decreased by 66.72% to ¥3,973,858.52 primarily due to a reduction in deductible input tax[15] - Tax payable increased by 78.57% to ¥68,568,745.46 mainly due to increased VAT and corporate income tax[15] - Financial income improved by 54.23% to -¥1,898,192.46 primarily due to increased interest income[15] - Asset impairment losses increased by 133.28% to ¥3,400,012.46 mainly due to higher inventory impairment losses[15] Cash and Cash Equivalents - Cash and cash equivalents decreased to ¥334,285,813.29 from ¥403,894,890.54, a decline of 17.2%[28] - The cash and cash equivalents at the end of the period were ¥615,694,926.56, down from ¥634,602,121.82, reflecting a decrease of about 3%[42] - The ending balance of cash and cash equivalents was $332,459,403.21, down from $446,457,256.69 in the previous period[45] Audit Information - The company did not undergo an audit for the first quarter report[46]

Financial Performance - The company's operating revenue for 2018 was CNY 2,354,780,015, representing a 10.22% increase compared to CNY 2,136,340,560 in 2017[15]. - The net profit attributable to shareholders of the listed company decreased by 25.48% to CNY 165,666,770 in 2018 from CNY 222,318,599 in 2017[15]. - The net profit after deducting non-recurring gains and losses was CNY 179,322,761, down 16.87% from CNY 215,716,258 in the previous year[15]. - Cash flow from operating activities significantly declined by 73.10% to CNY 129,749,601 from CNY 482,331,142 in 2017[15]. - Basic earnings per share decreased by 24.56% to CNY 0.43 in 2018, compared to CNY 0.57 in 2017[16]. - Total assets increased by 10.32% to CNY 2,426,468,130 at the end of 2018, up from CNY 2,199,483,480 at the end of 2017[16]. - The net assets attributable to shareholders of the listed company rose by 2.79% to CNY 1,808,430,710 at the end of 2018, compared to CNY 1,759,403,940 at the end of 2017[16]. Revenue and Market Expansion - The company's total revenue for Q4 was 671,157,669.79 CNY, showing a significant increase compared to Q3's 532,744,523.41 CNY, representing a growth of approximately 26%[20]. - The revenue from the clothing production and sales segment was ¥2,338,020,608.94, accounting for 99.29% of total revenue, with a year-on-year growth of 9.89%[48]. - The company operates multiple brands including "Mannifen," "Yves," and "Sangfulan," focusing on a multi-brand strategy to cater to diverse market segments[26]. - The company has acquired the "Sangfulan" brand and established a new production base in Dalian, indicating ongoing market expansion efforts[30]. - The domestic lingerie market is experiencing rapid growth, with increasing consumer demand for mid-to-high-end products, which the company aims to capitalize on[28]. - The company has identified a growing potential in the men's underwear market, which remains underdeveloped compared to women's lingerie[29]. - The company plans to deepen its market presence in second- and third-tier cities, capitalizing on its strong brand recognition and consumer base in these areas[94]. Investments and Acquisitions - The company has been recognized as a technology center by local authorities, enhancing its competitive edge in the lingerie industry[30]. - The company's intangible assets increased by 49.44% compared to the end of last year, primarily due to the acquisition of Dalian Sangfulan Logistics Co., Ltd.[31]. - The company achieved operating revenue of 2,354.78 million yuan, a year-on-year increase of 10.22%, while net profit attributable to shareholders decreased by 25.48% to 165.67 million yuan[39]. - The company launched new sub-brands under the Mannifen and Lanzhuoli brands, enhancing product variety and increasing inventory investment, which reached a book value of 724.99 million yuan, up 33.28% year-on-year[39]. - The company acquired the Sangfulan brand, adding a well-known trademark to its portfolio, and established a production base in Dalian through acquisitions[35]. - The company has confirmed that the asset evaluation report supports the acquisition's valuation[151]. - The acquisition aligns with the company's long-term strategy to strengthen its competitive position in the market[150]. Cash Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 4.50 per 10 shares, totaling CNY 17,664,000 based on 388,800,000 shares[4]. - The cash dividend for 2018 represents 26.06% of the total distributable profit of 671.35 million CNY[107]. - The company has maintained a consistent cash dividend policy over the past three years, with clear standards and procedures in place[104]. - The total cash dividends distributed over the past three years have shown an increasing trend, reflecting the company's commitment to returning value to shareholders[106]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[4]. - The company faces risks from market demand changes, competition, brand infringement, and raw material price fluctuations[95][96]. - The company will continue to strengthen risk management and optimize its operational processes to enhance competitiveness and resilience against external risks[97]. - The company has not experienced any significant changes in the feasibility of its investment projects[85]. Corporate Governance and Shareholding Structure - The company has no controlling shareholder as of June 10, 2018, following the expiration of the concerted action agreement[14]. - The company’s actual control and shareholder commitments have been fulfilled during the reporting period, ensuring governance stability[109]. - The company has not issued any new securities (excluding preferred shares) during the reporting period[172]. - The company has not experienced any changes in its actual controller during the reporting period[178]. - The company has disclosed its shareholder structure and changes on the designated website as per regulatory requirements[176]. Employee and Management Information - The total number of employees in the company is 7,321, with 4,607 in the parent company and 2,714 in major subsidiaries[197]. - The total pre-tax remuneration for directors, supervisors, and senior management is 2,212.94 million[196]. - The company has a complete training system that includes various training programs to enhance employee skills and knowledge[200]. - The company’s remuneration policy is designed to be competitive and compliant with national labor laws, considering various factors such as job characteristics and performance[199].

Financial Performance - Total assets increased by 8.61% to CNY 2,388,849,896.91 compared to the end of the previous year[8] - Net profit attributable to shareholders decreased by 99.50% to CNY 245,783.86 for the reporting period[8] - Operating revenue for the period was CNY 532,744,523.41, representing a growth of 5.98% year-on-year[8] - Net cash flow from operating activities dropped by 96.93% to CNY 3,622,588.50[8] - Basic earnings per share fell to CNY 0.00, a decrease of 100.00% compared to the previous year[8] - The weighted average return on net assets was 0.01%, down by 2.84% from the previous year[8] Shareholder Information - The company had a total of 17,808 shareholders at the end of the reporting period[12] - The top two shareholders, Lü Xingping and Lin Shengzhi, held 35.60% and 34.26% of shares respectively[12] - The company did not engage in any repurchase transactions during the reporting period[13] Cash Flow and Payments - Cash payments for purchasing goods and services increased by 141.63% to approximately ¥525.39 million compared to the same period last year[18] - Cash received from the disposal of fixed assets increased significantly by 1644.48% to approximately ¥8.04 million, mainly due to asset disposal from the Shantou factory[18] - Investment cash payments surged by 789444.24% to approximately ¥1.18 billion, attributed to property investments in Hungary[18] - Dividend and interest payments increased by 47.59% to approximately ¥138.42 million, primarily due to higher dividend distributions[18] Future Projections and Plans - The company expects a net profit attributable to shareholders for 2018 to range between ¥144.51 million and ¥233.43 million, reflecting a decrease of 35.00% to an increase of 5.00% compared to the previous year[27] - The liquidation of the wholly-owned subsidiary Shantou Mannifen is expected to incur approximately ¥48.49 million in non-operating losses, with ¥38.11 million already recognized[20] - The company plans to acquire the "Sanfulan" brand and related assets for a total price not exceeding ¥60 million, with the brand acquisition price set at ¥1[21] - The company has increased its investment in Jiangxi Mannifen by ¥45 million to support the acquisition of the Sanfulan brand assets[24] - A new joint venture, Jiangxi Sanfulan Apparel Co., Ltd., was established with a registered capital of ¥4 million, with Jiangxi Mannifen holding a 90% stake[23] - The company is in the process of relocating the Shantou factory to Jiangxi, which is expected to have no significant impact on daily operations[20] Financial Management - The total amount of entrusted financial management reached 19,900 million, with no overdue amounts reported[32] - The company utilized self-owned funds for both bank and broker financial products, amounting to 19,500 million and 400 million respectively[32] - There were no instances of expected principal recovery issues or potential impairment situations reported during the period[32] - The company engaged in multiple communication activities regarding its 2017 annual report and 2018 semi-annual report, indicating active investor relations[32]

Financial Performance - The company's operating revenue for the first half of 2018 was approximately ¥1.15 billion, representing an increase of 11.09% compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company was approximately ¥179.73 million, showing a slight increase of 1.30% year-on-year[19]. - The total assets at the end of the reporting period were approximately ¥2.26 billion, an increase of 2.55% from the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 3.59% to approximately ¥1.82 billion[19]. - The basic earnings per share remained at ¥0.46, unchanged from the previous year[19]. - The company achieved operating revenue of 1,150.88 million yuan, with a year-on-year growth of 10.83% in main business revenue[41]. - The net profit attributable to shareholders of the listed company was 179.73 million yuan, reflecting a year-on-year increase of 1.30%[41]. - The company reported a revenue of ¥1,150,877,822.17 for the current period, representing an increase of 11.09% compared to ¥1,036,009,480.90 in the same period last year[49]. - The cost of sales increased by 6.80% to ¥344,339,577.60 from ¥322,425,292.42 year-on-year[50]. - The company reported a net profit of RMB 14,917.54 from the newly established Jiangxi Lanzhuoli Clothing Co., Ltd. during the reporting period[77]. Cash Flow and Investments - The net cash flow from operating activities decreased by 43.48% to approximately ¥174.87 million compared to the previous year[19]. - The company’s cash flow from operating activities decreased by 43.48% to ¥174,868,363.40, primarily due to increased inventory purchases[50]. - The company reported cash and cash equivalents at the end of the period amounting to ¥598,249,906.59, a decrease from ¥622,568,994.66 at the end of the previous period[173]. - The company incurred total operating expenses of ¥1,140,024,122.48, up from ¥887,151,726.32 in the previous period[171]. - The company plans to establish a wholly-owned subsidiary in the United States with an investment of 2 million USD to enhance its international presence[45]. - The company plans to acquire 100% of Dalian Sangfulan Logistics Co., Ltd., with the total payment not exceeding 90% of the asset valuation confirmed by an appraisal[48]. - The company plans to liquidate its wholly-owned subsidiary, Shantou Mannifen Garment Co., Ltd., with an estimated non-operating loss of approximately 48.49 million yuan due to employee relocation costs[78]. Strategic Initiatives - The company has a multi-brand strategy with eight brands, including "Manifen," "Yivis," and "Lanzhuoli," which are positioned to complement each other[31]. - The company has formed partnerships with over 100 major retail groups, enhancing its sales network and distribution capabilities[33]. - The company has actively expanded into e-commerce and other channels, establishing an omnichannel sales model[33]. - The company aims to enhance its product competitiveness by collaborating with fashion consulting firms and investing in ergonomic technology development[83]. - The company is optimizing its channel layout, with a focus on direct sales, e-commerce, and distribution channels, covering major cities and towns[43]. Research and Development - Research and development expenses rose by 18.76% to ¥30,946,512.90, up from ¥26,058,819.94 in the previous year[50]. - The company has established a professional lingerie research institution and collaborates with Xi'an University of Technology to enhance its research capabilities[35]. - The company focuses on ergonomic research and technology in lingerie, contributing to its competitive advantage in the market[31]. Risks and Challenges - The company faces risks including potential losses from the cancellation of Shantou Mannifen and uncertainties regarding the profitability of the Sangfulan brand[6]. - The company faces risks related to market demand changes, competition, and potential brand infringement, which could adversely affect its operations[80]. - The cost of raw materials, which accounts for over 50% of production costs, poses a risk due to price volatility and delivery issues[81]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for this period[7]. - The chairman of the company, Mr. Lv Xingping, is under investigation by the China Securities Regulatory Commission for suspected insider trading[85]. - The company has committed to maintaining 75% of the released shares under lock-up for the next twelve months[132]. - The company has not reported any changes in the number of shares held by foreign investors, which remains at 0[130]. Compliance and Regulations - The semi-annual financial report was not audited, which may affect the reliability of the financial data presented[152]. - The company strictly adheres to national environmental protection laws and regulations, with no penalties for violations[122]. - The company has confirmed that all commitments made to minority shareholders have been fulfilled on time[98].

Financial Performance - The company's operating revenue for 2017 was CNY 2,136,340,569, representing a 4.27% increase compared to CNY 2,048,772,091 in 2016[18]. - The net profit attributable to shareholders for 2017 was CNY 222,318,599.20, which is a 21.27% increase from CNY 183,321,013.46 in 2016[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 215,716,258.69, reflecting a 24.68% increase from CNY 173,017,066.69 in 2016[18]. - The net cash flow from operating activities for 2017 was ¥482,331,142.52, an increase of 126.75% compared to ¥212,710,808.22 in 2016[19]. - Basic and diluted earnings per share for 2017 were both ¥0.57, representing a 21.28% increase from ¥0.47 in 2016[19]. - The weighted average return on equity increased to 13.26% in 2017 from 11.76% in 2016[19]. - Total assets at the end of 2017 reached ¥2,199,483,484, an increase of 11.21% from ¥1,977,748,866 at the end of 2016[19]. - The net assets attributable to shareholders of the listed company increased by 8.37% to ¥1,759,403,947 at the end of 2017 from ¥1,623,485,348 at the end of 2016[19]. - The company reported a total revenue of ¥597,633,670.82 in Q4 2017, with a total annual revenue of ¥2,136,340,569.36[23]. - The net profit attributable to shareholders in Q4 2017 was -¥4,733,877.09, indicating a decline compared to previous quarters[23]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 3.00 per 10 shares (including tax) based on a total of 388,800,000 shares[4]. - The company implemented a profit distribution plan approved by the board of directors and shareholders[4]. - In 2017, the company distributed a total cash dividend of 116.64 million yuan, which accounted for 52.47% of the net profit attributable to shareholders[111]. - The proposed cash dividend for 2017 is 3.00 yuan per 10 shares, totaling 11.664 million yuan, based on a total share capital of 38.88 million shares[112]. - The company did not distribute any stock dividends or increase capital reserves in 2017, with the remaining undistributed profits carried forward to future years[112]. - The cash dividend payout ratio for 2016 was 47.13%, with a total cash dividend of 86.4 million yuan[111]. Business Expansion and Operations - The company has expanded its business scope to include the design, development, and sales of sanitary products, bags, and glasses[17]. - The company operates multiple brands including "曼妮芬", "伊维斯", and "兰卓丽", focusing on ergonomic research and market expansion in the lingerie sector[28]. - The company operates 1,284 direct sales outlets, covering all provincial capitals and major cities except Tibet[36]. - The company closed 217 underperforming direct sales terminals while opening 80 new ones, resulting in a total of 1,284 direct sales terminals by the end of 2017[46]. - The number of dealerships increased from 1,223 at the end of 2016 to 1,304 by the end of 2017, indicating a growth of 6.63%[47]. - The company has established partnerships with over 100 major retail groups, enhancing its sales network and market presence[36]. Research and Development - The company has a total of 66 valid patents, including 14 invention patents, indicating a strong focus on R&D[37]. - The company’s R&D investment amounted to CNY 62.28 million, accounting for 2.92% of total revenue, which is an increase of 8.29% compared to 2016[66]. - The company plans to continue collaborating with research institutions to advance ergonomic technology development related to underwear[92]. Market Trends and Strategies - The domestic lingerie market has a sales volume exceeding ¥100 billion, with women's lingerie accounting for approximately 60% of this market[31]. - E-commerce sales accounted for 31.13% of total revenue, with a year-on-year growth of 30.84%[44]. - The company expects the overall demand for underwear in China to continue growing due to increasing disposable income and consumer quality demands[90]. - The company plans to enhance its e-commerce channels as a significant marketing supplement, leveraging the rapid growth and potential of the lingerie industry, which has a low concentration and high growth rate[95]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the report[4]. - The company has identified risks including market demand changes, intense competition, and potential brand infringement, which could adversely affect operations[96][97]. - The company recognizes the risk of not adapting to the rapid development of e-commerce and new retail formats, which could lead to sales channel disruptions[98]. Corporate Governance - The company has maintained a long-term commitment to repurchase shares and compensate for losses due to significant information disclosure violations[120]. - The company confirmed that all commitments made to minority shareholders were fulfilled on time[123]. - The company has established a complete and independent labor, personnel, and wage management system[200]. - The governance structure includes a shareholder meeting, board of directors, and supervisory board that operate in compliance with the Articles of Association[200]. Social Responsibility - The company has established a charity foundation, donating nearly 10 million in funds to support education and health initiatives in impoverished areas[154]. - The charity foundation has donated 2,910 sets of underwear, including 2,196 sets for post-operative women and 714 sets for adolescent girls[154]. - The company launched the "Pink Care Plan" in March 2017, donating 2,196 sets of post-operative bras to breast cancer patients across 11 cities, enhancing their confidence and receiving positive feedback[155]. - In September 2017, the company initiated the "Dandelion Plan" to support left-behind girls, donating 714 sets of girls' underwear and conducting health education lectures in three schools in Ganzhou[156]. Future Outlook - Future guidance for 2018 anticipates a revenue growth of 20% to 30%, reflecting confidence in ongoing market expansion and product development initiatives[181]. - The company plans to enhance its digital marketing efforts, with a budget increase of 30% aimed at improving customer engagement and brand visibility[181].