证券代码：002776 证券简称：柏堡龙 广东柏堡龙股份有限公司投资者关系活动记录表 编号：2018-001 | --- | --- | --- | |--------------|----------------------------|----------------------------------------------------------| | | √ | 特定对象调研 □分析师会议 | | | □ | 媒体采访 □业绩说明会 | | 投资者关系活 | □ | 新闻发布会 □路演活动 | | 动类别 | □ 现场参观 | | | | | □其他 （请文字说明其他活动内容） | | 参与单位名称 | | 光大证券、博时基金、鼎业投资、平安证券、中心证券、恒大人 | | 及人员姓名 | | 寿、景泰利丰、天风证券、中信证券 | | 时间 | 2018 年 1 月 31 | 日 | | 地点 | 深圳市蛇口希尔顿酒店会议室 | | | 上市公司接待 | | 总经理：陈娜娜、董事会秘书：江伟荣、证券事务代表：刘志 | | 人员姓名 | 伟 | | | 投资者关系活 | 主要交流内容如下： | | | ...

证券代码：002776 证券简称：柏堡龙 广东柏堡龙股份有限公司投资者关系活动记录表 编号：2018-001 | --- | --- | --- | |-------------------------|----------------------------|------------------------------------------------------------| | | | | | | √ | 特定对象调研 □分析师会议 | | | □ | 媒体采访 □业绩说明会 | | 投资者关系活 | □ 新闻发布会 □路演活动 | | | 动类别 | □ 现场参观 | | | | | □其他 （请文字说明其他活动内容） | | | | 光大证券、广发证券、平安证券、中信证券、天风证券、中信证 | | 参与单位名称 及人员姓名 | | 券、南方基金、前海联合、恒大人寿、景泰利丰、博时基金、鼎业 | | | 投资 | | | 时间 | 2018 年 1 月 31 | 日 | | 地点 | 深圳市蛇口希尔顿酒店会议室 | | | 上市公司接待 | | 总经理：陈娜娜、董事会秘书：江伟荣、证券事务代表：刘志 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥40,511,074.91, a decrease of 58.90% compared to ¥98,555,985.90 in the same period last year[18]. - The net loss attributable to shareholders was ¥52,513,772.55, representing a 147.87% increase in losses compared to ¥21,185,885.72 in the previous year[18]. - The basic and diluted earnings per share were both -¥0.10, a decline of 150.00% from -¥0.04 in the previous year[18]. - The company's revenue for the reporting period was approximately ¥40.51 million, a decrease of 58.90% compared to ¥98.56 million in the same period last year[51]. - The company reported a net profit of ¥826.46 million from its subsidiary, Shenzhen Yiquan Investment Management Co., Ltd.[79]. - The company reported a total profit for the first half of 2022 was a loss of CNY 54,237,145.88, compared to a loss of CNY 27,002,642.40 in the first half of 2021, indicating a worsening financial position[157]. - The total comprehensive income for the first half of 2022 was a loss of CNY 52,513,772.55, compared to a loss of CNY 22,063,333.05 in the same period of 2021[157]. Cash Flow and Assets - The net cash flow from operating activities improved by 90.71%, amounting to -¥3,047,869.04, compared to -¥32,802,810.40 in the same period last year[18]. - Cash and cash equivalents at the end of the reporting period amounted to ¥35,587,922.2, representing 2.94% of total assets, a decrease of 0.46% from the previous year[56]. - The company's cash and cash equivalents decreased from CNY 42,282,623.76 on January 1, 2022, to CNY 35,587,922.28 by June 30, 2022, representing a decline of approximately 16.0%[147]. - The total current assets amounted to CNY 690,544,852.92 as of June 30, 2022, compared to CNY 700,788,848.54 at the start of the year, indicating a decrease of approximately 1.8%[147]. - The company's total assets were CNY 1,209,816,721.77 as of June 30, 2022, compared to CNY 1,242,295,280.95 at the beginning of the year[150]. - The company's total liabilities reached CNY 1,038,417,701.52, an increase from CNY 1,018,382,488.15 at the start of the year[150]. Investment and Capital Management - The company plans not to distribute cash dividends or issue bonus shares[4]. - The company has ongoing major non-equity investments, with a focus on technology services and project development[60]. - The total amount of raised funds is CNY 155,054 million, with no excess funds reported[73]. - The company reported a total of 30.50 million yuan invested in the global fashion design ecosystem project[71]. - The company has set aside 3,530,000 for special reserves, demonstrating a proactive approach to future investments[178]. Market Position and Strategy - The company continues to focus on high-value-added design services in the apparel industry, maintaining its business model without significant changes during the reporting period[26]. - The company is positioned as the first fashion design listed company in A-shares, indicating a strong market presence and competitive advantage[38]. - The company is actively pursuing market expansion and new product development strategies[62]. - The company is exploring potential mergers and acquisitions to strengthen its market position[172]. - The company aims to enhance its research and development capabilities to drive innovation in new technologies[172]. Risks and Challenges - The company faces risks related to customer concentration, as a significant portion of revenue is dependent on a few major clients[81]. - The company is at risk of not adequately protecting its intellectual property, which is vital for its fast fashion operational model[83]. - The company is exposed to market risks, including competition in the O2O designer brand sales platform and potential declines in demand for protective products post-pandemic[84]. - The company is challenged by rising raw material prices and labor costs, which could adversely affect its financial performance if not managed effectively[85]. - The company reported significant financial difficulties due to the impact of COVID-19, leading to a strategic contraction in its retail business[182]. Corporate Governance and Compliance - The company emphasizes the importance of maintaining shareholder rights and actively manages investor relations[95]. - There were significant changes in the board of directors and management on June 30, 2022, including the election of a new chairman and general manager[90]. - The company is facing an investigation by the China Securities Regulatory Commission for alleged stock price manipulation[106]. - The company has taken measures to recover losses from unauthorized guarantees through judicial means and commitments from controlling shareholders[105]. - The company has not encountered any major changes in the expected benefits from the projects as of the reporting date[73]. Research and Development - The company’s design strategy emphasizes research and development, with a commitment to innovative and sustainable materials in fashion design[31]. - The company has a strong design and R&D team, which is crucial for maintaining competitiveness in the rapidly changing fashion market[46]. - The company is focusing on improving production organization to meet the fast fashion industry's demands, which requires effective management of both in-house and outsourced production[83]. - The company is implementing a management and risk control system to address challenges arising from its expanding business operations and diversification[86].

Financial Performance - The company's revenue for Q1 2022 was ¥10,028,168.57, a decrease of 76.15% compared to ¥42,043,880.54 in the same period last year[3] - The net profit attributable to shareholders was -¥31,581,020.11, representing a decline of 94.03% from -¥16,276,496.16 year-on-year[3] - The basic and diluted earnings per share were both -¥0.06, a 100% decrease compared to -¥0.03 in the same period last year[3] - Net loss for Q1 2022 was CNY 31,581,020.11, compared to a net loss of CNY 16,608,595.79 in Q1 2021, representing an increase in loss of 90.00%[16] - The company’s total comprehensive loss for Q1 2022 was CNY -31,581,020.11, compared to CNY -16,608,595.79 in Q1 2021[17] Cash Flow - The net cash flow from operating activities improved to -¥2,246,191.67, a 94.46% increase compared to -¥40,520,214.21 in the previous year[3] - Cash inflow from operating activities totaled CNY 41,775,261.90, a decrease from CNY 69,545,573.42 in the previous year[18] - Total cash outflow from operating activities was 44,021,453.57, down from 110,065,787.63 in the previous year[20] - The net cash flow from investing activities was -555,362.00, a decrease from 37,356,304.92 in Q1 2021, reflecting reduced investment activity[20] - Cash inflow from financing activities totaled 52,760,138.89, while cash outflow was 2,548,874.44, resulting in a net cash flow of -2,548,874.44[20] - The company experienced a net decrease in cash and cash equivalents of -5,350,428.11 during the quarter[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,216,540,442.71, down 2.07% from ¥1,242,295,280.95 at the end of the previous year[3] - The company's total liabilities amounted to CNY 1,024,208,670.02, slightly up from CNY 1,018,382,488.15 year-on-year[13] - Total equity attributable to shareholders of the parent company decreased to CNY 197,677,416.29 from CNY 229,258,436.40 in the previous year[13] - The equity attributable to shareholders decreased by 13.78% to ¥197,677,416.29 from ¥229,258,436.40 at the end of the previous year[3] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,369[7] - Major shareholders include Chen Weixiong with 23.37% and Chen Nana with 14.75% of the shares, both of whom have pledged a portion of their holdings[7] Other Financial Metrics - The weighted average return on equity was -14.79%, a decline of 13.99% from -0.80% year-on-year[3] - The company reported non-operating income of ¥310,076.38, which includes government subsidies of ¥476,314.51[5] - The company reported a credit impairment loss of CNY -5,411,124.96, compared to CNY -706,312.63 in the same period last year[16] - The company paid taxes amounting to 2,435,372.08, compared to 2,322,163.02 in the same period last year[20] Audit Information - The company did not conduct an audit for the Q1 2022 report[21]

Financial Performance - The company's operating revenue for 2021 was approximately ¥148.60 million, a decrease of 79.45% compared to 2020[22]. - The net loss attributable to shareholders was approximately ¥1.49 billion, representing a decline of 368.68% from the previous year[22]. - The net cash flow from operating activities was negative at approximately ¥45.08 million, a decrease of 122.91% compared to 2020[22]. - Basic and diluted earnings per share were both reported at -¥2.76, a decline of 367.80% year-over-year[22]. - The weighted average return on equity was -152.79%, a significant drop from -14.35% in 2020[22]. - Total revenue for 2021 was CNY 148,595,626.19, a significant decrease from CNY 723,203,586.99 in 2020, representing a decline of approximately 79.5%[24]. - The net profit attributable to shareholders for Q4 2021 was CNY -1,442,193,197.91, indicating a substantial loss compared to previous quarters[28]. - The company's total assets decreased by 54.91% from CNY 3,046,501,328 to CNY 2,755,377,177 after adjustments[24]. - The adjusted net assets attributable to shareholders were CNY 2,041,403,311, reflecting an 86.64% decrease from the previous year[24]. - The company incurred a substantial loss of CNY 1,488.97 million during the reporting period, primarily due to a sharp decline in sales orders and credit impairment losses[46]. Operational Challenges - The audit report indicated significant uncertainties regarding the company's ability to continue as a going concern[7]. - The company experienced substantial fluctuations in operating conditions over recent years, impacting financial stability[8]. - The company has indicated uncertainty regarding its ability to continue as a going concern, as highlighted in the audit report[24]. - The company faced a 92.83% decline in medical protective products revenue, which was CNY 9.33 million during the reporting period[48]. - The company has a significant portion of its assets under judicial freeze, impacting liquidity and operational flexibility[70]. - The company faced a potential judicial disposition risk due to overdue short-term bank loans, which has created significant uncertainty for the implementation of fundraising projects[85]. Business Strategy and Market Position - The company is focusing on expanding its design capabilities to enhance competitiveness in the apparel industry, which is projected to grow due to increasing demand for specialized design services[36]. - The company operates as a professional garment design enterprise, providing comprehensive design services and integrated production support, which helps clients reduce lead times and lower product costs[37]. - The company has established a strong design brand, focusing on high-value design segments within the apparel industry, and has not experienced significant changes in its main business or products during the reporting period[39]. - The company is the first fashion design listed company in A-shares and the only professional garment design listed company in China, indicating a unique market position[38]. - The company has a large design team that allows for rapid identification of fashion trends and timely adaptation of design styles, enhancing its competitive edge[40]. - The design process is modularized, allowing for professional division of labor among design teams, which improves efficiency and enriches design offerings[41]. - The company emphasizes design research and development, which is crucial for maintaining competitiveness in a rapidly changing fashion market[42]. Financial Management and Governance - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operations from its controlling shareholders[104]. - The company maintains independent financial management and does not provide guarantees for its shareholders, ensuring the protection of its assets and interests[105]. - The company has established a performance assessment mechanism linking senior management remuneration to company performance, with annual performance evaluations conducted by the remuneration and assessment committee[117]. - The company is actively managing its governance structure to ensure compliance and effective oversight, as evidenced by the regular board meetings and resolutions passed[120]. - The company has a diverse management team with experience in various sectors, including finance and cultural development, enhancing its operational capabilities[114][115]. Employee and Talent Management - The total number of employees at the end of the reporting period was 440, with 393 in the parent company and 47 in major subsidiaries[127]. - The professional composition of employees includes 277 production personnel, 14 sales personnel, 81 technical personnel, 24 financial personnel, and 44 administrative personnel[128]. - The company is focusing on attracting and retaining talent to support its design and operational capabilities, addressing the risk of talent turnover[94]. - The company has established a tiered training system to enhance employee skills and ensure healthy corporate development[130]. Research and Development - The company reported a significant reduction in research and development expenses, totaling ¥7,493,536.13 in 2021, down 46.11% from ¥13,905,813.40 in 2020[62]. - The company’s total research and development investment was ¥11,471,712.02, which constituted 7.72% of operating revenue, an increase of 3.56% from the previous year[63]. - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing product efficiency and sustainability[158]. Future Outlook - The company provided a forward guidance of 10% revenue growth for the next fiscal year, projecting revenues to reach approximately 1.65 billion RMB[156]. - Market expansion plans include entering three new provinces in China, targeting a 5% market share in these regions by the end of 2022[159]. - The company aims to improve operational efficiency by 15% through the implementation of new technologies and processes in the upcoming year[157]. Shareholder and Investor Relations - The company has committed to maintaining a dividend payout ratio of 30% of net profits, ensuring returns to shareholders while reinvesting in growth[156]. - The company has a total of 19,950 shareholders at the end of the reporting period, an increase from 18,369 at the previous month-end[197]. - The company is focused on maintaining a stable and healthy development trajectory through effective investor relations management[145].

Financial Performance - The company's revenue for Q3 2021 was ¥14,439,900.61, representing a decrease of 90.71% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥22,238,811.65, a decline of 184.82% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥23,951,136.93, down 225.29% from the previous year[3]. - Basic earnings per share were -¥0.04, a drop of 180.00% compared to the same period last year[3]. - The net profit for the quarter was a loss of CNY 44,163,878.91, compared to a profit of CNY 139,397,086.85 in the previous year, marking a shift of approximately 131.7%[19]. - The total comprehensive income for the period was -44,163,878.91 CNY, compared to 139,397,086.85 CNY in the previous period[20]. - Basic and diluted earnings per share were both -0.080 CNY, down from 0.26 CNY in the previous period[20]. Cash Flow and Assets - The operating cash flow for the year-to-date was -¥144,657,054.86, reflecting a decrease of 192.88%[3]. - Cash inflow from operating activities totaled 85,476,545.43 CNY, a decrease from 701,953,491.38 CNY in the previous period[23]. - The net cash flow from operating activities was -144,657,054.86 CNY, compared to 155,751,288.14 CNY in the previous period[23]. - Cash inflow from investing activities was 47,249,353.09 CNY, down from 473,262,994.96 CNY in the previous period[23]. - The net cash flow from investing activities was 37,446,061.24 CNY, compared to -122,559,775.32 CNY in the previous period[23]. - Cash inflow from financing activities was 130,516,886.91 CNY, down from 796,000,000.00 CNY in the previous period[24]. - The net cash flow from financing activities was -53,374,398.88 CNY, compared to 294,521,923.65 CNY in the previous period[24]. - The ending cash and cash equivalents balance was 38,229,358.93 CNY, significantly lower than 1,732,417,947.15 CNY in the previous period[24]. - Current assets totaled CNY 2,185,483,866.08, an increase from CNY 2,110,916,690.38, reflecting a growth of about 3.5%[15]. - The company's cash and cash equivalents decreased significantly to CNY 38,229,535.23 from CNY 162,237,039.49, a decline of about 76.6%[15]. - The company's total assets as of September 30, 2021, were CNY 3,079,352,221.18, slightly up from CNY 3,046,501,328.34 at the end of 2020[15]. - Total liabilities increased to CNY 1,084,063,308.02 from CNY 1,007,050,234.39, representing an increase of approximately 7.6%[16]. - The total equity attributable to shareholders decreased to CNY 1,997,980,312.68 from CNY 2,041,403,311.94, a decline of approximately 2.1%[16]. Operational Challenges - The company experienced a significant decline in clothing sales due to the impact of the pandemic and strategic adjustments from brand clients, leading to a substantial drop in orders[8]. - The company faced severe losses in its pandemic-related product sales due to market misjudgment, resulting in significant inventory buildup and price drops[8]. - The total operating costs amounted to CNY 166,592,186.47, down from CNY 456,803,440.90, indicating a reduction of about 63.6%[18]. - Research and development expenses for the quarter were CNY 2,789,840.54, down from CNY 10,698,270.30, indicating a reduction of approximately 74.0%[19]. - The report for the third quarter was not audited[25]. Equity and Returns - The weighted average return on equity was -0.88%, a decrease of 1.91% year-on-year[3]. - Total assets at the end of the reporting period were ¥3,079,352,221.18, an increase of 1.08% from the end of the previous year[3]. - The total equity attributable to shareholders was ¥1,997,980,312.68, down 2.13% from the previous year[4].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥98,555,985.90, a decrease of 77.67% compared to ¥441,328,566.01 in the same period last year[21]. - The net profit attributable to shareholders was a loss of ¥21,185,885.72, representing a decline of 118.65% from a profit of ¥113,582,333.70 in the previous year[21]. - The net cash flow from operating activities was a negative ¥32,802,810.40, down 125.93% from ¥126,524,003.23 in the same period last year[21]. - The basic earnings per share were -¥0.04, a decrease of 119.05% compared to ¥0.21 in the previous year[21]. - The company reported a total revenue of CNY 98.56 million, a decrease of 77.67% compared to the same period last year[47]. - The company incurred a net loss of CNY 22.06 million during the reporting period, primarily due to a significant decline in demand for apparel and misjudgment in the market for epidemic prevention products[48]. - The total comprehensive income for the first half of 2021 was -¥22,063,333.05, compared to ¥113,396,311.49 in the previous year[152]. - The total profit for the first half of 2021 was a loss of ¥27,002,642.40, compared to a profit of ¥131,627,205.35 in the same period of 2020[152]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,096,874,351.77, an increase of 1.65% from ¥3,046,501,328.34 at the end of the previous year[21]. - The total liabilities increased to CNY 1,445,532,928.78 as of June 30, 2021, compared to CNY 1,403,045,663.09 at the end of 2020, reflecting a rise of approximately 3%[148]. - The company's cash and cash equivalents decreased significantly from CNY 162,237,039.49 at the end of 2020 to CNY 52,272,779.64, a decline of approximately 67.7%[141]. - The company's total assets included CNY 52.27 million in cash, representing 1.69% of total assets, down from 5.33% the previous year[52]. - The total equity attributable to shareholders decreased to CNY 2,160,874,074.56 from CNY 2,173,422,265.07, reflecting a decline of approximately 0.6%[148]. Market and Industry Insights - The company's main business focuses on clothing design and production services, with revenue primarily from clothing design, production organization, and proprietary brand sales[29]. - The professional clothing design market in China is expected to continue expanding, driven by the increasing importance of design in gaining competitive advantages[32]. - The demand for designer brands is growing, with consumers increasingly valuing unique design and quality over brand names[34]. - The company faces challenges in accessing upstream resources and supply chain support, limiting the high value of design services[35]. - The professional clothing design industry in China is still in its early stages, with limited numbers of companies capable of providing comprehensive design services[32]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[7]. - The company plans to gradually establish and improve its management and risk control systems across subsidiaries, enhancing management capabilities at all levels[68]. - The company is expanding its design categories beyond casual wear, particularly T-shirts, to mitigate risks associated with market demand fluctuations[64]. - The company is investing 100 million RMB in research and development for new technologies aimed at improving operational efficiency and product quality[89]. - The company aims to enhance its technological capabilities in fabric development and garment design[178]. Risks and Challenges - The company faces risks related to talent retention, particularly in design and management, which are crucial for its "fast fashion" strategy[62]. - The company is at risk of not adequately protecting its intellectual property, which is vital for its business operations and competitive advantage[65]. - The company is exposed to market risks, including competition in the O2O designer brand sales platform, which could impact project effectiveness[66]. - There is a risk that fundraising projects may not achieve expected returns due to macroeconomic fluctuations or adverse changes in the apparel market, impacting project implementation and investment returns[68]. Governance and Compliance - The company has not faced any administrative penalties for environmental issues during the reporting period[77]. - The company emphasizes the importance of maintaining shareholder rights and actively managing investor relations[77]. - The company is under investigation by the China Securities Regulatory Commission for alleged stock price manipulation by its actual controllers[104]. - The financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards[181]. Future Outlook - The company provided a positive outlook for the second half of 2021, projecting a revenue growth of 20% to 30% based on current market trends and demand[91]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on innovative technology in the upcoming quarter[92]. - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[166].

Financial Performance - The company's revenue for Q1 2021 was CNY 42,043,880.54, representing a decrease of 79.36% compared to the same period last year[9] - The net profit attributable to shareholders was a loss of CNY 16,276,496.16, a decline of 128.78% year-over-year[9] - The net cash flow from operating activities was negative CNY 40,520,214.21, down 167.30% from the previous year[9] - Basic and diluted earnings per share were both negative CNY 0.03, a decrease of 127.27% compared to the same period last year[9] - Total operating revenue for Q1 2021 was CNY 42,043,880.54, a decrease of 79.4% compared to CNY 203,676,619.10 in the same period last year[37] - Net profit for Q1 2021 was a loss of CNY 16,608,595.79, compared to a profit of CNY 56,181,258.71 in Q1 2020, representing a significant decline[39] - The net profit for the first quarter of 2021 was -11,235,570.72 CNY, compared to a profit of 50,668,211.76 CNY in the same period last year, representing a significant decline[44] - Operating profit for the first quarter was -13,468,013.99 CNY, down from 59,499,237.24 CNY year-over-year[44] - The total comprehensive income for the first quarter was -11,235,570.72 CNY, compared to 50,668,211.76 CNY in the previous year[44] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,056,526,305.96, an increase of 0.33% from the end of the previous year[9] - The company's total assets amounted to CNY 3,056,526,305.96, a slight increase from CNY 3,046,501,328.34 at the end of 2020[29][32] - The company's cash and cash equivalents decreased significantly from CNY 162,237,039.49 at the end of 2020 to CNY 49,626,897.77 by March 31, 2021, representing a decline of approximately 69.5%[29] - Accounts receivable increased from CNY 141,445,122.73 at the end of 2020 to CNY 145,266,799.51, indicating a growth of about 2.9%[29] - The company's inventory rose from CNY 68,613,346.52 to CNY 80,026,306.58, reflecting an increase of approximately 16.7%[29] - Total current liabilities increased from CNY 980,681,544.42 to CNY 1,007,844,661.23, marking a rise of about 2.8%[31] - The company's total liabilities also increased from CNY 1,007,050,234.39 to CNY 1,033,682,109.69, which is an increase of approximately 2.7%[31] - The equity attributable to the owners of the parent company decreased from CNY 2,041,403,311.94 to CNY 2,025,128,513.89, a decline of about 0.8%[32] Cash Flow - Cash flow from operating activities was -40,520,214.21 CNY, compared to a positive cash flow of 60,210,641.44 CNY in the previous year[47] - The company reported cash inflows from operating activities of 69,545,573.42 CNY, down from 252,843,768.52 CNY in the previous year[46] - Cash outflows from operating activities totaled 110,065,787.63 CNY, compared to 192,633,127.08 CNY in the same period last year[47] - The total cash inflow from financing activities was 52,760,138.89, while the cash outflow was 160,246,562.37, resulting in a net cash flow of -107,486,423.48[51] - The ending balance of cash and cash equivalents was 10,501,682.59, down from 157,784,175.42 at the beginning of the period[51] - The company reported a significant decrease in cash and cash equivalents by 147,282,492.83 during the quarter[51] Strategic Outlook - The company attributed the decline in performance to a decrease in clothing orders due to strategic adjustments by some brand clients[17] - The company is actively seeking to expand its customer base while maintaining service to existing clients, with expectations of increased sales orders in the future[17] Non-Operating Income and Expenses - The company reported non-operating income of CNY 994,473.95, primarily from government subsidies[10] - Research and development expenses for Q1 2021 were CNY 1,268,562.34, a decrease of 44.3% compared to CNY 2,280,058.96 in the same period last year[38] - The company reported a credit impairment loss of CNY -706,312.63 in Q1 2021, compared to a gain of CNY 1,219,779.61 in the same period last year[38] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 38,672[13] - The company reported no significant non-operating fund occupation by controlling shareholders or related parties during the reporting period[24] Other Information - The company has not engaged in any significant research and development activities or new product launches during the reporting period[25] - There were no overdue or unrecovered amounts related to entrusted financial management, indicating a stable financial management approach[23] - The company did not undergo an audit for the first quarter report[53] - The company did not apply the new leasing standards for the first quarter of 2021[52] - The cash flow from operating activities was not detailed in the provided documents[51] - The company has ongoing projects in fixed assets amounting to CNY 57,482,593.01, an increase from CNY 54,305,194.90 in the previous quarter[35]

Financial Performance - The company's operating revenue for 2020 was ¥723,203,586.99, representing a decrease of 24.74% compared to ¥960,995,679.79 in 2019[28]. - The net profit attributable to shareholders for 2020 was -¥317,331,107.5, a decline of 358.46% from ¥150,638,896.59 in 2019[28]. - The basic earnings per share for 2020 was -¥0.590, down 356.52% from ¥0.28 in 2019[28]. - The total assets at the end of 2020 were ¥3,046,501,328, a decrease of 3.94% from ¥3,142,124,011 at the end of 2019[29]. - The net assets attributable to shareholders decreased by 14.18% to ¥2,041,403,311 at the end of 2020 from ¥2,428,327,781 at the end of 2019[29]. - The company had a net cash flow from operating activities of ¥196,731,794.72 in 2020, an increase of 153.64% from ¥144,518,146.12 in 2019[28]. - The company reported a significant loss of ¥31,815.21 million during the reporting period, primarily due to decreased demand for clothing and misjudgment in the market for epidemic prevention products[60]. - The design revenue decreased by 22.68% to ¥114,530.75 million, while wholesale and retail revenue dropped by 52.38% to ¥121,352.01 million[63]. - The company’s operating income from organized production was ¥351,080.34 million, reflecting a 37.08% decline year-on-year[63]. - The company’s gross profit margin for the professional technical service industry was 29.13%, down 1.85% from the previous year[65]. Inventory and Assets - As of December 31, 2020, the company reported inventory of medical products valued at RMB 291,795,420.35, with a provision for inventory impairment of RMB 265,641,647.45[8]. - The company has a balance of other non-current assets amounting to RMB 386,150,000, which accounts for 12.50% of total assets, primarily consisting of prepayments for two fundraising projects that are currently stalled[10]. - The company’s financial statements have been audited with a qualified opinion due to concerns over inventory valuation and the existence of non-current assets[7]. - The company’s current assets decreased by 5.51% to ¥211,091.67 million, indicating a tightening liquidity position[59]. - The company’s inventory levels decreased significantly, with a sales volume of 10,704,490 units, down 21.71% from the previous year[67]. Corporate Governance and Compliance - The company has faced investigations by the China Securities Regulatory Commission for suspected stock price manipulation and information disclosure violations[13]. - The company received a non-standard audit opinion for the 2020 financial report, which the board understands and acknowledges[136]. - The board plans to take effective measures to eliminate the issues related to the non-standard audit opinion and improve operational and financial conditions[136]. - The company reported a commitment to fulfill legal and regulatory obligations, including public apologies and potential compensation for investor losses due to unfulfilled commitments[122]. - The company has a complete decision-making process and mechanism for cash dividend distribution[114]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[16]. - The company did not distribute any cash dividends in 2020, with a net profit of -317,331,107.5 CNY, resulting in a 0.00% dividend payout ratio[116]. - The largest shareholder, Chen Weixiong, holds 23.37% of the shares, totaling 125,751,292 shares, with 1,649,497 shares pledged[176]. - The second largest shareholder, Chen Nana, holds 14.75% of the shares, totaling 79,343,925 shares, with 4,820,832 shares pledged[176]. - The total number of shareholders at the end of the reporting period was 31,370[176]. Strategic Initiatives and Market Position - The company is focused on creating a "global fashion design ecosystem" through O2O designer brand sales platforms and other channels[38]. - The company aims to enhance its market position by integrating upstream resources and expanding its designer brand clothing sales[38]. - The company aims to leverage the rapid growth of the fashion design industry in China, integrating resources to fill gaps in the industry chain and create a global fashion design ecosystem[54]. - The company is expanding its design offerings to other clothing categories to mitigate risks associated with T-shirt sales concentration[105]. - The company plans to enhance its design and development capabilities in the apparel value chain and expand its market presence by targeting more domestic and international brand clients[99]. Risks and Challenges - Rising raw material prices and labor costs pose a risk to the company's operating performance if not managed effectively[108]. - The company faces risks related to production organization, especially in meeting the fast fashion industry's demand for reduced lead times[105]. - The company is investing in projects that may not meet expected returns due to macroeconomic fluctuations or adverse market conditions[109]. Investment and Capital Management - The company has not engaged in any securities or derivative investments during the reporting period, focusing solely on its core projects[84][85]. - The total amount of cash and cash equivalents decreased by 66.04%, from -426,598,925.53 to -144,866,134.53[76]. - The company’s total investment in the reporting period was 4,270,367.59, a drastic reduction of 93.96% compared to the previous year[80]. - The company temporarily supplemented working capital with idle raised funds amounting to CNY 129 million, exceeding the board's approval limit by CNY 29 million[91]. - The company has established a modular design system with specialized divisions for information collection, printing, embroidery, color trends, style, and fabric research, enhancing design efficiency[50]. Employee and Management Information - The company employed a total of 648 staff, with 310 in production, 37 in sales, 210 in technical roles, 27 in finance, and 64 in administration[197]. - The educational background of employees includes 331 with below college education, 178 with college degrees, and 139 with bachelor's degrees or higher[197]. - The total remuneration for the board of directors, supervisors, and senior management during the reporting period amounted to 1.3895 million yuan[196]. - The management team includes professionals with backgrounds in finance, design, and project management, enhancing the company's operational capabilities[191].

Financial Performance - Operating revenue decreased by 13.93% to CNY 155,512,400.71 for the current period, and by 15.05% to CNY 596,840,966.72 year-to-date[8] - Net profit attributable to shareholders increased by 28.53% to CNY 139,800,923.12 year-to-date[8] - Basic earnings per share remained stable at CNY 0.05 for the current period, with a year-to-date increase of 30% to CNY 0.26[8] - Total revenue decreased by 15.05% to CNY 596.84 million, while total costs fell by 23.39% to CNY 456.80 million, primarily due to adjustments in sales channels and reduced operating expenses[17] - Net profit increased by 28.40% to CNY 139.40 million, driven by strong sales of new protective products during the pandemic[17] - Total operating revenue for Q3 2020 was CNY 155,512,400.71, a decrease from CNY 180,685,419.65 in the previous period[38] - The net profit for Q3 2020 was CNY 26,000,775.36, down 4.23% from CNY 27,146,721.33 in Q3 2019[41] - The company's net profit for Q3 2020 reached CNY 139,397,086.85, an increase of 28.4% compared to CNY 108,564,465.07 in the same period last year[48] - The total profit for Q3 2020 was CNY 160,988,303.35, an increase of 31.8% from CNY 122,161,633.95 in Q3 2019[48] Assets and Liabilities - Total assets increased by 12.97% to CNY 3,549,789,462.04 compared to the end of the previous year[8] - Current assets increased by 17.91% to CNY 2,609.52 million compared to the end of the previous year, with inventory rising by 74.60% to CNY 97.48 million due to new pandemic product production[16] - Total assets as of September 30, 2020, reached CNY 3,869,247,658.86, up from CNY 3,324,707,900.46 at the end of 2019[35] - Total liabilities increased to CNY 1,274,679,363.02 from CNY 850,137,083.54, indicating a rise of approximately 50%[36] - The company's total equity as of September 30, 2020, was CNY 2,594,568,295.84, compared to CNY 2,474,570,816.92 previously, marking an increase of about 4.8%[36] Cash Flow - Net cash flow from operating activities increased by 60.62% to CNY 29,227,284.91 for the current period[8] - Cash flow from operating activities rose by 97.02% to CNY 155.75 million, attributed to good collection of receivables and cash transactions for pandemic products[18] - Operating cash inflow for Q3 2020 was CNY 701,953,491.38, a decrease of 4.5% compared to CNY 733,912,938.72 in Q3 2019[55] - Net cash flow from operating activities increased to CNY 155,751,288.14, up from CNY 79,053,600.32 in the same period last year, representing a growth of 96.7%[55] - Cash inflow from financing activities reached CNY 796,000,000.00, significantly higher than CNY 370,100,000.00 in Q3 2019, an increase of 115.5%[56] - Net cash flow from financing activities improved to CNY 294,521,923.65, compared to a negative CNY -108,995,148.32 in the previous year[56] Shareholder Information - The total number of shareholders at the end of the reporting period was 25,892[12] - The largest shareholder, Chen Weixiong, holds 23.37% of the shares, with 124,102,490 shares pledged[12] - The company did not engage in any repurchase transactions during the reporting period[13] Expenses and Investments - Financial expenses rose to CNY 26.02 million, mainly due to increased interest expenses from higher short-term borrowings[17] - The company reported a financial expense of CNY 8,959,076.90, which increased from CNY 4,256,777.23 in the previous period[39] - Research and development expenses increased to CNY 2,950,573.49, up 50.00% from CNY 1,967,424.45 in the previous year[43] - The company has invested CNY 560 million in wealth management products using idle funds[23] - The company experienced a credit impairment loss of CNY 249,437.32, a significant improvement from a loss of CNY 2,870,002.60 in the same period last year[48] Non-Recurring Items - Non-recurring gains and losses included government subsidies of CNY 7,322,305.84 and investment income from idle funds of CNY 15,198,057.41[9] - There were no significant non-operating fund occupations by controlling shareholders or related parties during the reporting period[24]