Financial Performance - The company's operating revenue for 2021 was ¥1,868,289,949.01, representing a 45.48% increase compared to ¥1,284,195,761.57 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥139,363,785.19, which is a 21.58% increase from ¥114,626,954.52 in 2020[20]. - The net profit after deducting non-recurring gains and losses was ¥114,332,762.46, up 36.75% from ¥83,606,260.50 in 2020[20]. - The basic earnings per share for 2021 was ¥0.34, a 21.43% increase from ¥0.28 in 2020[21]. - The total assets at the end of 2021 were ¥2,238,933,160.69, reflecting a 7.15% increase from ¥2,089,487,820.67 at the end of 2020[21]. - The company reported a net cash flow from operating activities of ¥102,398,624.27, which is a 17.30% increase compared to ¥87,294,198.09 in 2020[20]. - The company's revenue for 2021 reached CNY 1,868.29 million, a year-on-year increase of 45.48%[62]. - Net profit for 2021 was CNY 133.56 million, reflecting a year-on-year growth of only 16.81% due to rising raw material costs and increased labor expenses[62]. - The gross profit margin for the main business decreased, primarily due to significant increases in raw material prices, with the gross margin for smart toilets at 19.09%[67]. Market Position and Strategy - The company is positioned in the mature and stable segment of the water-saving sanitary ware industry, with a focus on high-end market integration[32]. - The company ranks first in the domestic flushing component market and is estimated to be among the top three globally, providing products to numerous international and domestic high-end brands[43]. - The company has established stable strategic partnerships with well-known bathroom brands, enhancing its competitive advantage in the market[41]. - The company has maintained its main business without changes since its listing, indicating stability in its operational strategy[18]. - The company is focused on developing water-saving and smart bathroom products, aiming to become a leading provider of bathroom space and home water system solutions globally[136]. - The company aims to enhance its global market position in water-saving bathroom accessories and expand its presence in the domestic smart bathroom product market[136]. Research and Development - The company has developed 1,466 patents, including 90 invention patents, demonstrating its strong R&D capabilities in water-saving technology and smart bathroom products[51]. - Research and development expenses increased by 33.54% to ¥71,518,074.63 in 2021, up from ¥53,557,435.50 in 2020[77]. - The company is focused on expanding its market presence and enhancing product development capabilities to drive future growth[181]. - The company has a significant investment in research and development to innovate new products and technologies in the bathroom fixtures sector[181]. Product Development and Innovation - The company is developing several new products, including a one-piece flushing system and a non-contact drive module, to enhance its competitive advantage in the smart toilet market[78]. - The company emphasizes continuous improvement in product quality and innovation, aiming to enhance customer satisfaction and market presence[58]. - The company is focused on innovation and rapid commercialization of new products to stay competitive in the market[110]. - The company has made adjustments to its product layout in response to the emerging trends in the sanitary ware market[102]. Corporate Governance and Management - The company has established a robust corporate governance structure and internal control mechanisms to manage the complexities arising from its rapid growth and expansion[154]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[162]. - The company has established independent personnel files and management systems, ensuring that senior management does not hold positions in other enterprises controlled by actual controllers[166]. - The company has implemented a robust internal audit system to monitor the establishment and execution of internal control systems[163]. - The company has established a performance evaluation and incentive mechanism for directors and senior management, linking their compensation directly to the company's operating performance[163]. Risks and Challenges - The company faces risks from international macroeconomic fluctuations, particularly due to rising trade protectionism and geopolitical tensions, which could impact global trade dynamics[138]. - Trade protectionism from major economies, particularly the U.S., poses a risk to the company's export demand, as tariffs on its products could affect sales[141]. - The company's domestic sales are significantly affected by the health of the real estate market, which is subject to government policies aimed at stabilizing housing prices[145]. - The ongoing global pandemic and its variants pose a risk to the company's international sales and overall business operations[156]. Future Outlook - Future outlook indicates a projected revenue growth of 10% for 2022, with plans to launch three new product lines in the next quarter[177]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 30% increase in market share within the next two years[177]. - The company plans to invest in R&D and automation to improve production efficiency and maintain a competitive edge in the market[137]. - The company aims to enhance its operational efficiency and profitability through strategic initiatives and market expansion efforts[181].

重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报 告中财务信息的真实、准确、完整。 厦门瑞尔特卫浴科技股份有限公司 2021 年第三季度报告 证券代码：002790 证券简称：瑞尔特 公告编号：2021-070 厦门瑞尔特卫浴科技股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 | 本报告期比上年同期增 | 年初至报告期末 | 年初至报告期末比上年 | | --- | --- | --- | --- | --- | | | | 减 | | 同期增减 | | 营业收入（元） | 506,057,599.06 | 55.77% | 1,309,377,510.73 | ...

Financial Performance - The company reported a revenue of RMB 200 million for the first half of 2021, representing a year-on-year increase of 15%[15]. - The net profit for the first half of 2021 was RMB 30 million, up from RMB 25 million in the same period last year, marking a growth of 20%[15]. - The company's operating revenue for the first half of 2021 was ¥803,319,911.67, representing a 73.99% increase compared to ¥461,716,871.43 in the same period last year[20]. - The net profit attributable to shareholders was ¥59,249,967.92, up 31.51% from ¥45,052,622.53 year-on-year[20]. - The company reported a total revenue of 400 million yuan for the first half of 2021, reflecting a year-on-year increase of 20%[120]. - The net profit attributable to shareholders reached 50 million yuan, representing a growth of 15% compared to the same period last year[121]. - Total operating revenue for the first half of 2021 reached ¥803,319,911.67, a significant increase of 73.9% compared to ¥461,716,871.43 in the same period of 2020[175]. Research and Development - Research and development expenses increased by 25% year-on-year, amounting to RMB 10 million, focusing on smart toilet technology[15]. - The company invested ¥22,845,299.01 in R&D, a slight increase of 0.76% year-on-year[52]. - The company is actively pursuing market expansion strategies, including the introduction of new products and technologies in the bathroom fixtures sector[120]. - The company plans to enhance its research and development efforts to innovate new products, particularly focusing on water-saving technologies[120]. - The company has established a competitive advantage in the field of prefabricated bathrooms and non-drop floor drainage products, with 44 authorized patents, including 7 invention patents[75]. - The company holds 1,296 patents, including 85 invention patents, showcasing its strong R&D capabilities in water-saving technology[43]. Market Strategy and Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by the end of 2022[15]. - The company aims to launch two new product lines by Q4 2021, including eco-friendly bathroom fixtures[15]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market reach[15]. - The company aims to increase its market share by 10% in the next fiscal year through strategic partnerships and acquisitions[121]. - The company is actively involved in research and development, manufacturing, and sales of various bathroom products, including smart home products[74]. Risks and Challenges - The management highlighted potential risks including supply chain disruptions and fluctuating raw material costs, which could impact future performance[4]. - The company faced significant risks from international macroeconomic fluctuations, including trade tensions and the impact of the COVID-19 pandemic on global supply chains[77]. - The company’s export markets are primarily emerging economies, which may be adversely affected by declines in infrastructure and real estate investments[78]. - The company is exposed to risks from trade protectionism in major economies, which could affect demand for its products in those regions[80]. - The company faces risks of slowing future performance growth due to domestic macroeconomic fluctuations, with potential impacts from reduced fixed asset investment and lower consumer demand[79]. Cash Flow and Financial Position - The company's cash flow from operating activities decreased by 43.89%, amounting to ¥63,883,452.60 compared to ¥113,847,608.12 in the same period last year[20]. - The total assets at the end of the reporting period were ¥2,134,768,317.05, a 2.17% increase from ¥2,089,487,820.67 at the end of the previous year[20]. - Cash and cash equivalents decreased to CNY 448,380,946.00, down 2.10% from CNY 482,751,863.52 at the end of the previous year[62]. - The company reported a fair value loss of CNY 2,901,800.00, which is a 4.58% decrease due to inconsistencies in foreign exchange rates[60]. - The net cash flow from operating activities for the first half of 2021 was CNY 63,883,452.60, a decrease of 44% compared to CNY 113,847,608.12 in the same period of 2020[185]. Corporate Governance and Shareholder Matters - The company has established a robust corporate governance structure and internal control mechanisms to manage risks associated with its expanding operations[94]. - The company did not engage in any significant equity investments during the reporting period, with total investments amounting to CNY 0.00, a 100% decrease from CNY 242,370,196.98 in the previous year[66]. - The company approved the repurchase and cancellation of 144,000 restricted stocks due to three individuals no longer qualifying for the incentive plan, at a repurchase price of 3.15 CNY per share[106]. - The company completed the first unlock of 2,612,700 restricted shares for 111 incentive targets as per the 2020 restricted stock incentive plan[144]. - The company’s independent directors provided independent opinions on the share repurchase and cancellation proposals[145].

厦门瑞尔特卫浴科技股份有限公司 2021 年第一季度报告全文 厦门瑞尔特卫浴科技股份有限公司 2021 年第一季度报告 公告编号：2021-040 2021 年 04 月 1 厦门瑞尔特卫浴科技股份有限公司 2021 年第一季度报告全文 第一节 重要提示 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） | 332,203,230.55 | 188,427,110.22 | | 76.30% | | 归属于上市公司股东的净利润（元） | 30,565,284.59 | 21,111,844.88 | | 44.78% | | 归属于上市公司股东的扣除非经常性损 益的净利润（元） | 26,726,063.68 | 17,355,494.75 | | 53.99% | | 经营活动产生的现金流量净额（元） | 46,008,240.45 | 50,199,455.22 | | -8.35% | | 基本每 ...

Financial Performance - The company reported a total revenue of RMB 418,329,000 for the year 2020, with a cash dividend of RMB 1.5 per 10 shares to all shareholders [4]. - The company's operating revenue for 2020 was ¥1,284,195,761.57, representing a 15.75% increase compared to ¥1,109,444,022.03 in 2019 [18]. - The net profit attributable to shareholders for 2020 was ¥114,626,954.52, a decrease of 36.86% from ¥181,538,751.50 in 2019 [18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥83,606,260.50, down 48.42% from ¥162,087,279.24 in 2019 [18]. - The net cash flow from operating activities was ¥87,294,198.09, a decline of 56.16% compared to ¥199,099,070.83 in 2019 [18]. - The total assets at the end of 2020 were ¥2,089,487,820.67, an increase of 10.51% from ¥1,890,708,789.00 at the end of 2019 [19]. - The basic earnings per share for 2020 was ¥0.28, down 36.36% from ¥0.44 in 2019 [19]. - The total profit for the year was CNY 12,391,730, a decrease of 39.59% compared to CNY 20,511,910 in the previous year [67]. - Net profit fell to CNY 11,433,710, down 37.01% from CNY 18,151,910 in 2019 [67]. - The gross profit margin for the industrial sector was 24.16%, a decrease of 6.24% from the previous year [73]. Market Position and Strategy - The company plans to continue its market expansion and product development strategies, focusing on smart toilet technology and water-saving components [10]. - The company maintains a strong market position, ranking first in the domestic flushing component market and among the top three globally [43]. - The company focuses on water-saving bathroom products, with core products including water-saving flushing components and smart toilets [28]. - The company actively participates in industry exhibitions to explore business opportunities and enhance brand awareness [31]. - The company has established stable strategic partnerships with well-known domestic and international sanitary ware brands, enhancing its competitive advantage [42]. - The company aims to become a global leader in water-saving bathroom products and smart bathroom products, focusing on high-quality supply chain solutions [116]. - The company is committed to becoming a leading provider of water-saving and smart bathroom products globally [143]. Research and Development - The company holds 1,187 patents, including 71 invention patents, demonstrating a strong focus on R&D in water-saving and intelligent bathroom products [47]. - The company has obtained over 10 international certifications, including UPC and CE, which are essential for market entry in developed regions [51]. - In 2020, the company's R&D expenses amounted to ¥53,557,435.50, an increase of 23.24% compared to ¥43,458,189.23 in 2019 [84]. - The proportion of R&D expenses to total revenue rose to 4.17% in 2020 from 3.92% in 2019, reflecting a 0.25% increase [84]. - The number of R&D personnel increased by 15.70% to 199 in 2020, compared to 172 in 2019 [84]. Corporate Governance and Compliance - The board of directors has confirmed that all members attended the meeting to review the annual report, ensuring governance compliance [3]. - The company's financial statements have been verified by Lixin Certified Public Accountants, ensuring accuracy and reliability [17]. - The company has established a robust corporate governance structure and internal control mechanisms to manage risks associated with its expanding operations [162]. Dividend Policy - The company plans to distribute cash dividends of RMB 2.00 per 10 shares for the 2019 fiscal year, totaling RMB 83,694,600 [179]. - For the 2020 fiscal year, the company proposes a cash dividend of RMB 1.50 per 10 shares, amounting to RMB 62,749,350, pending shareholder approval [179]. - The company has a policy to distribute at least 20% of the annual distributable profit as cash dividends, provided certain conditions are met [172]. - The total cash dividend for 2020 amounted to ¥62,749,350, representing 54.74% of the net profit attributable to ordinary shareholders [180]. - The cash dividend per 10 shares is set at ¥1.50, based on a total share capital of 418,329,000 shares [181]. Industry Trends and Challenges - The domestic smart toilet industry is in its early development stage, experiencing explosive growth due to rising consumer demand for energy-saving and intelligent products [39]. - The global water crisis and national policies promoting water-saving products are driving the growth of the water-saving sanitary ware industry [36]. - The market for mid-to-high-end sanitary ware products remains robust, with increasing consumer awareness and demand for quality products [42]. - The competitive landscape in the flushing component industry emphasizes quality control, technological innovation, and integrated supply chain solutions [118]. - The ongoing emphasis on green manufacturing and energy-saving policies is pushing the industry towards a more sustainable and high-quality development phase [133]. Risks and Economic Factors - The company faces risks from international macroeconomic fluctuations, including trade tensions and protectionism, which could impact global trade and investment patterns [145]. - Domestic economic fluctuations pose a risk to the company's future performance, particularly if fixed asset investment slows and consumer demand decreases [147]. - The rise of trade protectionism in major economies could adversely affect the company's export demand, especially if significant trade disputes arise [148]. - The company's domestic sales are significantly tied to the health of the real estate market, which is subject to government policy and economic conditions [153].

Financial Performance - Operating revenue for the current period was CNY 324,885,302.06, representing a year-on-year growth of 20.88%[8] - Net profit attributable to shareholders decreased by 33.98% to CNY 31,023,516.75 compared to the same period last year[8] - The net profit after deducting non-recurring gains and losses fell by 48.99% to CNY 24,199,237.51[8] - Basic earnings per share decreased by 35.40% to CNY 0.0741[8] - The weighted average return on equity was 1.88%, down by 1.13% from the previous year[8] - Net profit decreased by 40.16% to ¥76,003,680.62, mainly due to a decline in gross profit[17] - The company reported a total profit of CNY 86.25 million for the third quarter, a decline of 41.2% from CNY 146.78 million in the same period last year[50] - The net profit for the third quarter of 2020 was CNY 76.00 million, down 40.1% from CNY 127.01 million in the previous year[50] - The total comprehensive income for Q3 2020 was CNY 30,569,230.81, down from CNY 46,988,535.25, reflecting a decrease of about 34.9%[43] Assets and Liabilities - Total assets increased by 3.70% to CNY 1,960,612,750.06 compared to the end of the previous year[8] - Total liabilities increased to CNY 290,267,264.33 from CNY 250,521,556.21 year-over-year[34] - Current liabilities totaled CNY 257,684,506.13, up from CNY 219,756,355.04 in the previous period[34] - Non-current liabilities amounted to CNY 32,582,758.20, compared to CNY 30,765,201.17 in the previous period[34] - The company's equity attributable to shareholders reached CNY 1,669,968,669.45, an increase from CNY 1,640,052,817.50[35] - Total liabilities and equity reached CNY 1,875,207,494.37[71] Cash Flow - The net cash flow from operating activities was negative at CNY -7,278,185.88, a decline of 135.01%[8] - The net cash flow from operating activities for Q3 2020 was ¥106,569,422.24, a decrease of 13.7% compared to ¥123,449,427.00 in Q3 2019[57] - Total cash inflow from operating activities was ¥789,145,303.74, down from ¥843,706,938.03 in the previous year, reflecting a decline of 6.4%[57] - Cash outflow from operating activities totaled ¥682,575,881.50, compared to ¥720,257,511.03 in Q3 2019, indicating a reduction of 5.2%[57] - The net cash flow from investing activities was -¥39,658,476.96, worsening from -¥9,669,814.81 in the same period last year[58] - The net cash flow from financing activities was -¥56,142,621.50, compared to -¥76,800,000.00 in Q3 2019, showing an improvement of 26.8%[58] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,616[12] - The top four shareholders each hold 12.48% of the shares, totaling 52,224,000 shares[12] Research and Development - Research and development expenses rose by 36.45% to ¥35,106,192.12, reflecting increased investment in R&D[17] - Research and development expenses increased to CNY 12,433,573.28 from CNY 9,660,857.16, marking a rise of approximately 28.9%[41] - Research and development expenses increased to CNY 24.35 million, up 14.7% from CNY 21.37 million year-over-year[52] Inventory and Receivables - Accounts receivable decreased by 41.31% to ¥64,981,600.02 due to the implementation of new financial instrument standards[16] - Inventory increased to ¥234,982,448.79, up from ¥184,287,433.43, indicating a rise in stock levels[32] - Accounts receivable decreased to CNY 212,572,563.28 from CNY 240,350,735.16 year-over-year[36] - Inventory increased slightly to CNY 144,102,900.79 from CNY 142,210,832.48[36] Financial Management - The total amount of entrusted financial management reached ¥55,400,000, with no overdue amounts[24] - The company reported non-recurring gains of CNY 15,188,889.18 for the year-to-date[10] - Other income increased by 86.97% to ¥10,912,829.46, attributed to an increase in government subsidies received[16] Future Outlook - The company plans to invest approximately ¥29,973.17 million in the construction of a new smart bathroom product production base, with a total planned investment of ¥39,089.38 million[21] - The company plans to continue focusing on product innovation and market expansion to improve future performance[50] Audit and Compliance - The third quarter report was not audited[72] - The company implemented the new revenue recognition standard starting January 1, 2020, affecting the presentation of contract liabilities[71]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥461,716,871.43, a decrease of 10.98% compared to ¥518,646,217.72 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥45,052,622.53, down 43.70% from ¥80,020,687.05 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥36,688,012.59, a decrease of 47.83% compared to ¥70,329,706.28 in the same period last year[17]. - Basic earnings per share were ¥0.11, down 45.00% from ¥0.20 in the same period last year[17]. - The company reported a net loss of approximately CNY 15.47 million for the first half of 2020, with total assets amounting to CNY 356.17 million[90]. - Net profit for the first half of 2020 was CNY 44.99 million, a decline of 44% from CNY 80.02 million in the first half of 2019[187]. - The company's total assets increased to CNY 1.89 billion as of June 30, 2020, compared to CNY 1.88 billion at the end of 2019[184]. - The total equity attributable to shareholders of the parent company was CNY 1.64 billion, slightly down from CNY 1.64 billion at the end of 2019[184]. Cash Flow and Investments - The net cash flow from operating activities increased by 10.90% to ¥113,847,608.12 from ¥102,658,257.03 in the previous year[17]. - The company reported a net cash outflow from investing activities of approximately ¥52.85 million, worsening from a net outflow of ¥12.72 million in the previous year[196]. - Cash and cash equivalents at the end of the period totaled ¥513.24 million, an increase from ¥395.19 million at the end of the previous year[196]. - The company reported a net cash flow from investing activities of -¥113,174,742.58, worsening from -¥14,582,680.48 in the first half of 2019[198]. - The company received ¥29,724,550.00 from investment absorption during the first half of 2020[199]. Market and Industry Trends - The global market for water-saving bathroom accessories is driven by increasing water scarcity and supportive national policies[33]. - The domestic market for high-end sanitary ware brands is concentrated, with major brands like ROCA, INAX, and KOHLER holding significant market shares[35]. - The market share of mid-to-high-end water-saving flushing components is increasing as low-end products are gradually being replaced[36]. - The industry is experiencing a trend towards intelligent and artistic development, driven by rising living standards and consumer expectations[38]. - The company has identified a significant shift in market demand towards smart bathroom products, indicating a growing trend in the industry[80]. Research and Development - R&D investment increased by 41.11% to CNY 22.67 million, with a focus on enhancing product brand competitiveness and intellectual property protection[56]. - The company holds over 990 patents, including 64 invention patents, with a focus on water-saving technology for bathroom accessories[43]. - Research and development expenses increased to CNY 22.67 million, up from CNY 16.07 million, reflecting a commitment to innovation[185]. Strategic Partnerships and Sales - The company maintains stable and strong strategic partnerships with well-known domestic and international sanitary ware brands, enhancing its competitive advantage[39]. - The company operates under the C29 "Rubber and Plastic Products Industry" classification, specifically within the niche of water-saving flushing components[31]. - The company has established subsidiaries overseas to expand its market presence and is focusing on developing smart bathroom products domestically[80]. Risks and Challenges - The company faces risks from international macroeconomic fluctuations, particularly affecting demand in emerging markets where its products are primarily exported[92]. - Domestic economic pressures may impact the company's growth, with potential slowdowns in fixed asset investment and consumer demand[94]. - The company is navigating a complex international trade environment, which may affect its export growth and overall performance[92]. - The company is exposed to risks from raw material price fluctuations, particularly for engineering plastics, which account for over 30% of production costs[105]. Corporate Governance and Compliance - The company has established a robust corporate governance structure and internal supervision mechanisms to manage risks associated with its expanding operations and complexity[110]. - The company has not faced any unfulfilled commitments from major stakeholders during the reporting period, indicating compliance with obligations[117]. - The half-year financial report has not been audited, which may affect the reliability of the financial data presented[118]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,638[159]. - Major shareholders include Luo Yuanliang, Zhang Jianbo, Wang Bing, and Deng Guangrong, each holding 12.48% of the shares[159]. - The company’s incentive plan was approved at the first extraordinary general meeting of 2020 held on February 10, 2020[154].

Financial Performance - Revenue for Q1 2020 was ¥188,427,110.22, a decrease of 25.99% compared to ¥254,610,534.43 in the same period last year[8] - Net profit attributable to shareholders was ¥21,111,844.88, down 39.02% from ¥34,621,135.18 year-on-year[8] - Net profit excluding non-recurring gains and losses was ¥17,355,494.75, a decline of 44.99% compared to ¥31,549,225.41 in the previous year[8] - Basic earnings per share decreased by 37.50% to ¥0.05 from ¥0.08 year-on-year[8] - Net profit decreased by 39.07% to ¥21,095,769.97, primarily due to a decline in revenue[16] - Total operating revenue for the current period is ¥188,427,110.22, down from ¥254,610,534.43 in the previous period, representing a decrease of approximately 26%[41] - Total operating costs decreased to ¥169,632,737.28 from ¥218,483,676.85, a reduction of about 22%[42] - Net profit for the current period is ¥21,095,769.97, compared to ¥34,621,135.18 in the previous period, reflecting a decline of approximately 39%[43] - Operating profit for the current period is ¥25,717,713.60, down from ¥39,205,823.08, a decrease of about 34%[42] - Total profit for the current period is ¥25,725,025.34, compared to ¥39,205,512.98 in the previous period, reflecting a decline of approximately 34%[42] Cash Flow and Assets - Operating cash flow for the period increased by 28.33% to ¥50,199,455.22 from ¥39,117,926.96 in the same period last year[8] - The net cash flow from operating activities for Q1 2020 was CNY 50,199,455.22, an increase of 28.5% compared to CNY 39,117,926.96 in Q1 2019[49] - Total cash inflow from investment activities was CNY 174,603,675.47, significantly higher than CNY 24,875,375.34 in the same period last year[50] - The cash and cash equivalents at the end of Q1 2020 reached CNY 588,928,763.88, up from CNY 400,417,569.41 at the end of Q1 2019, representing a 47.1% increase[50] - The total operating cash inflow was CNY 241,276,788.88, compared to CNY 284,019,142.69 in the previous year, indicating a decrease of 15%[49] - The company reported a total cash inflow from sales of CNY 216,375,327.05, compared to CNY 272,981,723.05 in the same quarter last year, reflecting a decline of 20.8%[53] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,387[12] - The top four shareholders each hold 12.48% of the shares, totaling 52,224,000 shares each[12] - Net assets attributable to shareholders rose by 3.19% to ¥1,692,353,217.78 from ¥1,640,052,817.50 at the end of the previous year[8] - Shareholders' equity increased to CNY 1,692,452,594.12 from CNY 1,640,187,232.79, reflecting a growth of about 3.73%[36] Liabilities and Equity - Total liabilities decreased to CNY 207,347,958.21 from CNY 250,521,556.21, a reduction of approximately 17.24%[35] - Total liabilities amounted to CNY 250,521,556.21, with current liabilities at CNY 219,756,355.04[57] - The total equity attributable to shareholders reached CNY 1,640,052,817.50, while total equity was CNY 1,640,187,232.79[57] Non-Recurring Gains and Other Income - The company reported non-recurring gains of ¥3,756,350.13 during the period, including government subsidies of ¥4,219,544.83[9] - Other income increased by 116.15% to ¥4,219,544.83, driven by higher government subsidies received[16] - Investment income surged by 638.34% to ¥604,875.47, influenced by structured deposit returns[16] Inventory and Receivables - The company's inventory rose to CNY 195,003,829.57 from CNY 184,287,433.43, marking an increase of about 5.67%[33] - The company reported a decrease in accounts receivable from CNY 249,772,987.36 to CNY 202,040,905.12, a decline of approximately 19.14%[33] - Current assets totaled CNY 1,446,797,067.70, up from CNY 1,434,378,674.33, indicating an increase of about 0.88%[33] Financial Management and Changes - The company has implemented a stock incentive plan in 2020, approved by the board and shareholders[18][19] - A change in the use of part of the raised funds was approved in March 2020[20] - The company has no overdue commitments or non-operating fund occupation issues during the reporting period[22][28] - The company executed the new revenue recognition standard starting January 1, 2020, affecting the classification of pre-received customer payments[61]

Dividend Policy - The company plans to distribute a cash dividend of 2 RMB per 10 shares to all shareholders, based on a total of 418,473,000 shares[4]. - The cash dividend for 2018 was RMB 3.00 per 10 shares, amounting to RMB 76,800,000.00, with a total share capital increase to 409,600,000 shares[168]. - In 2017, the cash dividend was RMB 4.00 per 10 shares, totaling RMB 64,000,000.00, based on a total share capital of 160,000,000 shares[167]. - The cash dividend payout ratio for 2019 was 46.10% of the net profit attributable to shareholders[170]. - The company has a cash dividend policy that requires a minimum payout ratio of 80% for mature companies without significant capital expenditure plans[171]. - The total cash dividend amount for 2019 represents 100% of the total distributable profit[171]. - The company has committed to distributing at least 20% of the annual distributable profits in cash dividends, contingent on profitability and available retained earnings[173]. - The company plans to conduct mid-term cash dividends if the net cash flow from operating activities exceeds the net profit for the period[173]. - The company has fulfilled its commitment to conduct profit distribution at least once annually during the reporting period[173]. Financial Performance - The company's operating revenue for 2019 was ¥1,109,444,022.03, an increase of 11.64% compared to ¥993,785,232.85 in 2018[17]. - The net profit attributable to shareholders for 2019 was ¥181,538,751.50, reflecting a growth of 12.73% from ¥161,045,679.34 in the previous year[17]. - The total profit for 2019 was 205.12 million yuan, reflecting a growth of 10.83% from 185.08 million yuan in 2018[61]. - The company's gross profit margin for the industrial sector was 30.40%, with a gross profit of ¥337,217,510.86, up from the previous year's margin of 28.81%[68]. - The company's revenue from overseas exports significantly contributes to overall sales, with a stable growth in market share due to strong partnerships with well-known domestic and international brands[41]. - The company reported a significant increase in R&D investment to adapt to future market demands, focusing on product upgrades and new product development[79]. - The company achieved total revenue of 1,109.44 million yuan, an increase of 11.64% compared to 993.79 million yuan in the previous year[61]. - The company reported a credit impairment loss of CNY -3,895,677.21 for the current period, compared to CNY -3,346,822.96 in the previous period[188]. Research and Development - The company has maintained its commitment to research and development of new products, particularly in the smart toilet segment[9]. - The company holds over 930 patents, including 64 invention patents, demonstrating a strong focus on R&D in water-saving technologies[44]. - The company has achieved multiple quality certifications from over 10 countries, enhancing its competitive advantage in international markets[49]. - R&D investment increased by 5.94% from ¥41,021,331.07 in 2018 to ¥43,458,189.23 in 2019, accounting for 3.92% of operating revenue[80]. - The company aims to focus on the research and development of water-saving and smart bathroom products, enhancing its core competitive advantages through technology and service-oriented marketing strategies[129]. Market Position and Strategy - The company is a leading manufacturer of water-saving flushing components, holding the top market share in China and ranking among the top three globally in this segment[42]. - The company operates in the water-saving toilet component sector, which is part of the broader rubber and plastic products industry, and is recognized as a specialized supplier in the bathroom accessories market[33]. - The company emphasizes quality, technology, and service as the core competitive factors in the flushing component industry, necessitating strict quality control and innovative product development[112]. - The company is positioned to capitalize on the growing demand for water-saving products due to government initiatives aimed at promoting water conservation[37]. - The company aims to expand its market share in the water-saving flushing component sector due to increasing global water scarcity and evolving domestic and international water-saving policies[113]. Corporate Governance - The company is focused on enhancing its corporate governance structure and internal control systems to improve overall management quality[152]. - The board of directors will propose adjustments to the profit distribution policy only if it conflicts with the company's operational situation or long-term development needs[163]. - The company has a structured process for reviewing and approving profit distribution proposals, requiring input from independent directors and the supervisory board[164]. - The company has established a framework for consistent voting on significant matters, including operational policies and investment plans[179]. - The company has successfully adhered to all commitments made to minority shareholders, ensuring transparency and trust[184]. Economic and Market Risks - The company faces risks from international macroeconomic fluctuations, including trade tensions and protectionist measures that could impact demand for its products in emerging markets[133]. - Domestic economic pressures, such as slowing investment and consumer demand, may also pose risks to the company's future performance[135]. - The company is directly affected by U.S. trade policies, with certain bathroom products subject to tariffs, which could impact export volumes and pricing strategies[137]. - The ongoing "housing is for living, not for speculation" policy in China may lead to a slowdown in domestic real estate investment, potentially affecting domestic sales[142]. - The company is exposed to exchange rate fluctuations, with over 40% of its revenue coming from exports, which could impact profitability[143]. Subsidiaries and Investments - The company operates several wholly-owned subsidiaries, including Xiamen Paifute and Xiamen Yidian Intelligent Technology[8]. - The company established a wholly-owned subsidiary in Singapore, AQUATIZ INVESTMENT PTE.LTD., on April 5, 2019, and subsequently set up a holding subsidiary in India, AQUATIZ HOME INNOVATION PRIVATE LIMITED, on September 9, 2019[190]. - The company made a significant equity investment of CNY 30 million in Xiamen Water Drop Investment Co., holding a 100% stake[89]. - The company has not reported any issues or other circumstances regarding the use and disclosure of raised funds[100]. Operational Performance - The company’s total operating costs rose to ¥772,226,511.17, reflecting a 9.15% increase from the previous year[71]. - The company’s employee compensation provision was ¥22,788.84 million, a 14.7% increase year-on-year, constituting 20.54% of total revenue[62]. - The number of R&D personnel decreased by 9.95% from 191 in 2018 to 172 in 2019[80]. - The company has not encountered any major changes in project feasibility during the reporting period[99]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[182]. - The company plans to invest in new product development and market expansion strategies[179]. - The company plans to strengthen its global market position in water-saving bathroom fittings while expanding its efforts in the domestic smart bathroom market and forming strategic partnerships with renowned brands[129].

Financial Performance - Net profit attributable to shareholders was ¥46,988,535.25, a decrease of 15.10% year-on-year[7]. - Operating revenue for the reporting period was ¥268,777,092.77, reflecting a growth of 1.56% compared to the same period last year[7]. - The company reported a year-to-date net profit of ¥127,009,222.30, an increase of 12.58% compared to the same period last year[7]. - The company's net profit for Q3 2019 was not explicitly stated, but the increase in retained earnings was CNY 666,697,874.56 compared to CNY 605,831,444.84 in the previous year[36]. - The net profit for the third quarter was CNY 46,988,535.25, down 15.1% from CNY 55,346,098.93 in the same period last year[40]. - The total profit for the third quarter was CNY 53,732,481.62, compared to CNY 61,650,110.46 in the previous year, indicating a decrease of 12.8%[40]. - The total profit for the third quarter of 2019 was CNY 146,783,700.57, an increase of 12.9% from CNY 130,037,506.38 in the same period last year[48]. Earnings and Shares - Basic earnings per share decreased by 46.95% to ¥0.1147[7]. - Basic earnings per share decreased to CNY 0.1147 from CNY 0.2162, reflecting a decline of 46.9%[40]. - The basic earnings per share for the third quarter of 2019 was CNY 0.3101, down from CNY 0.4407 in the same quarter last year[48]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,839,651,250.84, an increase of 6.08% compared to the end of the previous year[7]. - The total assets of the company reached CNY 1,800,311,207.41, compared to CNY 1,731,384,687.67 at the end of 2018, indicating growth in asset base[36]. - The total liabilities increased to CNY 253,978,229.77 from CNY 198,752,923.55 year-over-year, showing a rise of 27.8%[31]. - Total liabilities were CNY 198,752,923.55, with current liabilities at CNY 178,594,384.10 and non-current liabilities at CNY 20,158,539.45[65]. - The total liabilities to equity ratio is approximately 12.93%, indicating a relatively low leverage position[65]. Cash Flow - The net cash flow from operating activities was ¥20,791,169.97, down 58.92% year-on-year[7]. - The company reported a cash inflow from operating activities of CNY 820,032,173.91 for the current period, compared to CNY 699,300,107.30 in the previous year[54]. - Net cash flow from operating activities reached CNY 123,449,427.00, significantly up from CNY 40,288,569.04 in the same period last year[55]. - The ending balance of cash and cash equivalents was CNY 427,176,998.68, up from CNY 318,072,057.58 in Q3 2018[56]. Inventory and Receivables - Accounts receivable decreased by 36.88% compared to the beginning of the year, mainly due to the maturity of bank acceptance bills[15]. - Inventory increased by 36.97% compared to the beginning of the year, mainly due to an increase in raw materials and finished goods[15]. - Other receivables increased by 196.11% compared to the beginning of the year, mainly due to unreceived export tax rebates[15]. Expenses - Sales expenses increased by 39.96% compared to the same period last year, mainly due to increased exhibition, insurance, and service fees[16]. - Research and development expenses for Q3 2019 were CNY 9,660,857.16, slightly up from CNY 9,261,324.36 in the previous year, indicating continued investment in innovation[38]. - Research and development expenses for the third quarter were CNY 21,371,397.46, a decrease of 22.5% compared to CNY 27,565,400.04 in the previous year[51]. Shareholder Information - The total number of shareholders at the end of the reporting period was 18,272[11]. - The top four shareholders each hold 12.75% of the shares, totaling 52,224,000 shares each[11]. Other Financial Metrics - The weighted average return on net assets was 3.01%, an increase of 0.16% compared to the previous year[7]. - Non-recurring gains and losses totaled ¥9,240,036.18 after tax[9]. - The company’s capital stock increased by 60% compared to the beginning of the year due to the conversion of capital reserves into share capital[15].