Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,015,717,411.56, a decrease of 6.42% compared to ¥1,085,432,880.21 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was ¥68,378,477.89, down 22.78% from ¥88,547,482.44 in the previous year[21]. - The net cash flow from operating activities was -¥126,141,920.55, representing a decline of 116.30% compared to -¥58,317,330.17 in the same period last year[21]. - Basic earnings per share decreased by 42.31% to ¥0.45 from ¥0.78 in the previous year[21]. - The weighted average return on net assets was 4.12%, down 7.63% from 11.75% in the same period last year[21]. - The company reported a net profit for the reporting period of ¥68.38 million, representing a 23% decline year-on-year, with a net profit margin of 6.7%[37]. - The total operating revenue for the first half of 2021 was CNY 1,015,717,411.56, a decrease of 6.42% compared to CNY 1,085,432,880.21 in the same period last year[47]. - The total operating profit was CNY 80,148,431.62, down from CNY 104,239,015.52 in the first half of 2020, a decrease of 23.1%[164]. - The total comprehensive income for the first half of 2021 was 68.3 million, representing a decrease of 3.81 million compared to the previous period[172]. Cash Flow and Assets - The company's cash and cash equivalents decreased by 68.32% to CNY 187,684,984.58 from CNY 592,384,889.53 in the same period last year[46]. - Cash and cash equivalents at the end of the reporting period amounted to 827,161,266.63, accounting for 27.16% of total assets, an increase of 4.69% from the previous year[55]. - The net cash flow from investing activities was CNY 369,790,349.06, a significant change from CNY -102,936,281.51 in the previous year, indicating a 459.24% increase[46]. - The company’s operating cash flow was -¥126 million, primarily due to project initiation and investment phases[36]. - The total assets at the end of the reporting period were ¥3,045,962,017.65, a slight decrease of 0.33% from ¥3,055,984,211.41 at the end of the previous year[21]. - The company’s asset-liability ratio stood at 44.4%, indicating a stable financial position[36]. Market and Strategic Initiatives - The company signed new orders and had uncontracted orders that doubled compared to the same period last year, indicating strong market demand[35]. - The company aims to enhance its market share and profitability by leveraging capital markets and improving operational efficiencies[41]. - The company is expanding its market presence by entering three new provinces, aiming to increase market share by 10% in these regions[105]. - The company plans to enhance its supply chain efficiency, targeting a 15% reduction in operational costs by the end of 2021[105]. - The company is considering strategic acquisitions to enhance its product portfolio and market reach, with potential targets identified in the home decor sector[102]. Risks and Challenges - The company acknowledges risks related to macroeconomic downturns, fluctuations in the real estate market, and management challenges in business expansion[5]. - The competitive landscape in the construction decoration industry remains intense, with many companies possessing strong financial and operational capabilities, leading to market competition risks[70]. - The company faces risks from macroeconomic downturns, which could negatively impact its business expansion due to reduced housing market demand[68]. - The real estate market's volatility poses risks, particularly due to government regulations aimed at stabilizing housing prices, which may affect the demand for residential decoration services[69]. Research and Development - R&D investment increased significantly to CNY 34,526,556.91, up 562.97% from CNY 5,207,855.43 in the previous year[46]. - Research and development expenses increased significantly to CNY 34,526,556.91, up from CNY 5,207,855.43, reflecting a growth of 563.5%[164]. - Research and development investments have increased by 30%, focusing on sustainable materials and smart home technologies[101]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has not distributed cash dividends or bonus shares for the half-year period, nor has it increased capital through reserves[78]. - The company has approved a three-year shareholder return plan for 2021-2023[75]. - There are no changes in the company's board of directors, supervisors, or senior management during the reporting period[77]. - The company has no equity incentive plans or employee stock ownership plans in place during the reporting period[79]. Compliance and Environmental Commitment - The company emphasizes its commitment to energy-saving and environmentally friendly practices in the residential renovation sector, aligning with government policies on carbon neutrality[82]. - The company has not received any administrative penalties related to environmental issues during the reporting period[82]. - The company has committed to not using its assets for unrelated investments or consumption activities[112].

Revenue and Profit - The company's revenue for Q1 2021 was ¥341,928,896.85, representing a 35.15% increase compared to ¥253,007,955.63 in the same period last year[9]. - Net profit attributable to shareholders was ¥31,569,880.88, a 57.40% increase from ¥20,056,552.49 year-over-year[9]. - The net profit after deducting non-recurring gains and losses was ¥27,890,686.63, up 44.86% from ¥19,253,929.65 in the previous year[9]. - The basic earnings per share increased by 16.67% to ¥0.21 from ¥0.18 in the same period last year[9]. - The company's operating revenue for Q1 2021 was CNY 341,928,896.85, representing a 35.15% increase compared to CNY 253,007,955.63 in Q1 2020[19]. - Net profit for Q1 2021 reached CNY 31,569,880.88, representing a 57.1% increase from CNY 20,056,552.49 in Q1 2020[38]. - The company reported a comprehensive income total of CNY 32,644,889.27 for Q1 2021, compared to CNY 21,433,653.24 in the same period last year[39]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,591,588,577.72, a decrease of 15.20% from ¥3,055,984,211.41 at the end of the previous year[9]. - The total amount of unused raised funds as of March 31, 2021, was CNY 53,077.91 million, with CNY 25,102.67 million already utilized[24]. - Total liabilities decreased to CNY 938,235,091.73 from CNY 1,436,364,697.08 year-over-year[35]. - The total liabilities amounted to CNY 1,436,364,697.08, slightly increasing from CNY 1,436,956,956.29[49]. - The total assets were reported at CNY 3,055,984,211.41, with a minor adjustment to CNY 3,056,576,470.62 due to new leasing standards[49]. Cash Flow - The company reported a net cash flow from operating activities of -¥207,374,221.47, a 6.49% increase in outflow compared to -¥194,731,835.17 in the previous year[9]. - The cash inflow from operating activities was CNY 523,645,324.23, an increase from CNY 481,654,165.49 in the previous period, representing an increase of approximately 8.5%[41]. - The cash outflow from operating activities totaled CNY 731,019,545.70, compared to CNY 676,386,000.66 in the prior period, indicating an increase of about 8.1%[41]. - The net cash flow from investment activities was CNY 46,990,991.13, significantly lower than CNY 145,986,407.05 in the previous period, a decline of about 67.8%[44]. - Cash inflow from financing activities was CNY 18,572,003.26, down from CNY 29,500,000.00, a decrease of approximately 37.5%[44]. - The net cash flow from financing activities was -CNY 123,835,383.66, compared to a positive CNY 27,251,023.62 in the prior period, indicating a significant decline[44]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,388[13]. - The company has no overdue commitments from major shareholders or related parties during the reporting period[20]. Research and Development - Research and development expenses surged by 552.01%, amounting to CNY 15,166,933.41, compared to CNY 2,326,179.91 in Q1 2020[19]. - Research and development expenses in Q1 2021 were CNY 15,166,933.41, significantly higher than CNY 2,326,179.91 in the previous year, indicating a focus on innovation[37]. Government Subsidies - The company received government subsidies amounting to ¥430,338.52 during the reporting period[10]. Investment Performance - The net profit from investment increased by 317.29%, reaching CNY 3,104,316.80, up from CNY 743,915.63 in the same period last year[19]. - The company reported a significant increase in interest income, reaching CNY 3,975,721.07 in Q1 2021, compared to CNY 236,159.14 in Q1 2020[38].

Financial Performance - The company's operating revenue for 2020 was ¥2,564,932,249.64, representing a 9.63% increase compared to ¥2,339,629,603.19 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥188,831,648.80, a 3.05% increase from ¥183,234,026.50 in 2019[18]. - The basic earnings per share for 2020 was ¥1.43, down 11.18% from ¥1.61 in 2019[18]. - The total assets at the end of 2020 were ¥3,055,984,211.41, a 52.98% increase from ¥1,997,649,191.66 at the end of 2019[18]. - The net assets attributable to shareholders increased by 124.81% to ¥1,619,619,514.33 from ¥720,454,603.14 at the end of 2019[18]. - The company reported a decrease of 3.16% in net profit after deducting non-recurring gains and losses, totaling ¥172,404,110.91 in 2020[18]. - The company achieved a revenue of approximately CNY 2.56 billion in 2020, representing a year-on-year growth of 9.63%[44]. - The net profit attributable to shareholders was approximately CNY 188.83 million, reflecting a year-on-year increase of 3.05%[44]. - Total revenue for 2020 reached ¥2,564,932,249.64, representing a year-on-year increase of 9.63% compared to ¥2,339,629,603.19 in 2019[52]. - The bulk decoration segment accounted for ¥2,559,384,678.08, with a year-on-year growth of 9.85% from ¥2,329,980,597.75[52]. Cash Flow and Investments - The net cash flow from operating activities decreased by 58.91% to ¥70,519,036.69 from ¥171,628,232.46 in 2019[18]. - Cash and cash equivalents increased by CNY 590 million compared to the beginning of the period, primarily due to the arrival of funds from the public offering[38]. - The net cash flow from investing activities showed a significant increase of 416.38%, resulting in a net outflow of ¥257,243,649.12, attributed to an increase in purchased financial products[70]. - The net cash flow from financing activities decreased by 833.27% to ¥668,647,154.55, mainly due to the completion of fundraising and an increase in equity capital[70]. - The company's cash and cash equivalents increased by 1,473.62% to ¥481,922,542.12 during the reporting period[70]. - The total amount of funds raised by the company in 2020 was RMB 928,082,000, with a net amount of RMB 781,805,774 after deducting issuance costs[85]. - The company reported investment income of ¥8,620,166.65, contributing 3.79% to total profit, primarily from financial products, indicating sustainability[71]. Market and Industry Trends - The residential decoration industry in China has a compound annual growth rate (CAGR) of 9.8% from 2010 to 2019, indicating strong market growth potential[33]. - The government has set a target for 30% of new construction to be fully decorated by 2020, indicating significant growth potential for the industry[35]. - The construction decoration industry is experiencing a trend of increasing concentration, with a decline in the number of market participants from 145,000 in 2011 to 125,000 in 2018[34]. - The company delivered approximately 55,000 units of housing in 2020, maintaining a market share of about 1.7% in the batch decoration market[34]. Strategic Initiatives - The company plans to distribute a cash dividend of ¥4 per 10 shares, totaling approximately ¥60,560,000[5]. - The company aims to strengthen internal control management and improve project profitability through enhanced auditing and monitoring[94]. - The company plans to enhance its marketing team and optimize market layout, focusing on regions such as North China, Northwest, Southwest, and Jiangsu-Zhejiang[94]. - The company is actively expanding into emerging markets such as old city renovations, long-term rental apartments, and educational buildings[96]. - The company plans to optimize its organizational management structure and improve operational efficiency through enhanced IT infrastructure, doubling the number of IT personnel[95]. Shareholder and Governance - The company distributed a cash dividend of 4 RMB per 10 shares, totaling 60,560,000 RMB (including tax) for the fiscal year 2020[111]. - The cash dividend for 2020 represents 64.14% of the net profit attributable to the company's ordinary shareholders, which was 188,831,648.80 RMB[113]. - The company has a policy to distribute at least 10% of the distributable profits as cash dividends each year[107]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[116]. - The lock-up period for major shareholders is set for 36 months from the date of listing, with normal compliance reported[117]. Human Resources and Development - The average training hours per employee reached 74.32 hours, emphasizing the company's commitment to employee development and skill enhancement[49]. - The company employed nearly 1,500 staff and provided job opportunities for thousands of migrant workers through over 150 construction projects[157]. - The company is committed to continuous professional development and training for its staff, as evidenced by Mr. Zhang An's training initiatives[189]. Risk Management - The company has acknowledged risks related to macroeconomic downturns and market competition, urging investors to remain cautious[5]. - The overdue amount not collected stands at 342 million CNY, indicating potential liquidity risks[148]. - The company is actively managing liquidity risks with a focus on low-risk financial products[148]. Compliance and Reporting - The company has not engaged in any significant related party transactions during the reporting period, ensuring compliance with relevant regulations[137]. - There were no major accounting errors requiring restatement during the reporting period, reflecting the integrity of the financial reporting process[131]. - The company has maintained its accounting firm, Ernst & Young Hua Ming, for four consecutive years, ensuring continuity in audit practices[133].

Financial Performance - Operating revenue for the period was CNY 768,553,417.23, a 15.47% increase year-on-year[10] - Net profit attributable to shareholders was CNY 67,817,118.32, reflecting a 3.03% increase year-on-year[10] - Net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 4.53% to CNY 61,615,475.93 compared to the same period last year[10] - Basic earnings per share decreased by 22.41% to CNY 0.45[10] - The weighted average return on equity was 4.26%, down 57.62% compared to the same period last year[10] - Total operating revenue for Q3 2020 reached CNY 768,553,417.23, an increase of 15.5% compared to CNY 665,566,535.82 in Q3 2019[38] - Net profit for Q3 2020 was CNY 67,817,118.32, representing a 3.0% increase from CNY 65,823,474.12 in Q3 2019[40] - Earnings per share for Q3 2020 were CNY 0.45, down from CNY 0.58 in Q3 2019[41] - The company reported a total comprehensive income of CNY 70,546,414.51 for Q3 2020, compared to CNY 64,925,143.90 in Q3 2019[41] - The net profit for Q3 2020 was CNY 156,364,600.76, an increase of 7.6% compared to CNY 145,617,860.22 in Q3 2019[45] - The total profit for the period reached CNY 183,971,801.53, up from CNY 171,553,108.96, reflecting a growth of 2.4% year-over-year[45] Assets and Liabilities - Total assets increased by 47.10% to CNY 2,938,579,899.25 compared to the end of the previous year[10] - The company's total liabilities increased, with short-term borrowings rising by 141.15% to RMB 277,236,886.69 from RMB 114,963,661.67[19] - The total current liabilities increased to CNY 1,165,155,931.00 from CNY 1,084,932,000.00, reflecting a rise of approximately 7.4%[36] - The total liabilities of the company as of September 30, 2020, were CNY 1,165,155,931.00, compared to CNY 1,084,932,000.00 at the end of 2019, indicating a rise of about 7.4%[36] - The total liabilities as of Q3 2020 were CNY 1,342,742,716.96, compared to CNY 1,277,194,588.52 in the previous year[38] - The total liabilities amounted to CNY 1,277,194,588.52, showing a slight decrease of CNY 175,733.23[54] Cash Flow - Cash flow from operating activities increased by 20.52% to CNY 73,739,613.65 compared to the same period last year[10] - The net cash flow from operating activities decreased by 60.85% to RMB 15,422,283.48 from RMB 39,396,207.56, primarily due to non-cash collections[19] - The company reported a total cash inflow from operating activities of CNY 1,739,876,587.01, an increase from CNY 1,382,850,917.47 in the previous year[49] - Cash flow from investing activities showed a net outflow of CNY 88,303,830.80, a decline from a net inflow of CNY 27,077,309.56 in Q3 2019[50] - The cash flow from financing activities resulted in a net inflow of CNY 698,202,952.52, compared to a net outflow of CNY 65,686,094.97 in the same quarter last year[50] Investments and Expenses - Research and development expenses rose by 55.07% to RMB 7,565,091.34 from RMB 4,878,542.66, reflecting increased investment in R&D[19] - Research and development expenses for Q3 2020 were CNY 2,357,235.91, up from CNY 1,654,974.37 in Q3 2019, indicating a focus on innovation[38] Equity and Shareholder Information - Net assets attributable to shareholders increased by 121.50% to CNY 1,595,837,182.29 compared to the end of the previous year[10] - The company's retained earnings increased to CNY 558,940,796.50 from CNY 474,962,408.97 year-over-year[38] - The capital reserve increased significantly to CNY 826,281,442.56 from CNY 75,144,442.59 year-over-year, reflecting strong financial health[38] - The company's equity attributable to shareholders reached CNY 720,454,603.14, reflecting a decrease of CNY 11,626,415.37[55] Other Income and Subsidies - Government subsidies recognized during the period amounted to CNY 4,729,727.52[11] - The company reported a significant increase in other income, which rose by 618.74% to RMB 5,016,490.07 from RMB 697,959.37, mainly due to increased government subsidies[19] Market and Strategic Focus - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development and strategic initiatives[31]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,085,432,880.21, representing a 21.89% increase compared to ¥890,494,751.87 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥88,547,482.44, up 10.97% from ¥79,794,386.10 in the previous year[17]. - Basic earnings per share rose to ¥0.78, an increase of 11.43% from ¥0.70 in the same period last year[17]. - The company reported a total revenue of 3,800 million for the first half of 2020, representing a year-on-year increase of 6.29%[104]. - The gross profit margin for the period was 2.88%, with a net profit margin of 4.99%[104]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the first half of 2020, representing a year-over-year growth of 25%[80]. Cash Flow and Assets - The net cash flow from operating activities was -¥58,317,330.17, a decrease of 153.03% compared to -¥21,787,249.07 in the same period last year[17]. - Cash and cash equivalents at the end of the period amounted to ¥685,306,897.70, a significant increase from ¥79,390,052.93, primarily due to funds raised from the initial public offering[45]. - The total assets at the end of the reporting period reached ¥2,877,432,644.87, an increase of 44.04% from ¥1,997,649,191.66 at the end of the previous year[17]. - The company's total current assets reached CNY 2,678,739,753.75, up from CNY 1,804,548,704.71, indicating a growth of about 48.3%[138]. - The total liabilities increased to CNY 1,290,441,630.32 from CNY 1,277,194,588.52, reflecting a growth of 1.3%[140]. Investment and Expenditures - The company increased its cash and cash equivalents by ¥592,384,889.53, a significant rise of 2,087.65% due to substantial fundraising from its listing[36]. - Research and development expenses rose to ¥5,207,855.43, marking a 61.56% increase as the company enhanced its R&D efforts[36]. - The company has invested RMB 374.71 million in the information technology construction project, achieving 19.64% of the planned investment[60]. - The company is investing in research and development, allocating 200 million towards new technology initiatives[104]. Market Expansion and Strategy - The company expanded its market presence by establishing 5 new regional centers, bringing the total to 16 centers across economically developed cities[32]. - The company plans to deepen its core business and improve customer reputation to increase market share in response to economic fluctuations[68]. - The company is exploring potential mergers and acquisitions to enhance its competitive position, with a budget of 500 million RMB allocated for strategic investments in 2020[78]. - The company aims to actively expand into emerging markets such as old city renovations and long-term rental apartments[68]. Risks and Challenges - The company faces risks including macroeconomic downturns, fluctuations in the real estate market, and management risks associated with business expansion[5]. - The company anticipates potential risks from macroeconomic downturns affecting the real estate market, which could impact business expansion[68]. - The company faces competition risks due to a low industry concentration and strong competitors in terms of financial strength and business scale[69]. Shareholder Information - The company plans to distribute a cash dividend of ¥4 per 10 shares (including tax) based on 151,400,000 shares[5]. - Major shareholders are restricted from transferring or managing shares during the lock-up period, with an automatic extension of six months if the stock price falls below the issue price[76]. - The company has fulfilled all public commitments made during its initial public offering, ensuring compliance with all relevant regulations[77]. Compliance and Governance - The financial report was approved by the board of directors on August 17, 2020[160]. - The financial statements are prepared based on actual transactions and events, following the accounting standards issued by the Ministry of Finance[160]. - The company has assessed its ability to continue as a going concern and found no issues affecting this capability[161]. Quality Control and Recognition - The company has maintained a strict quality control system throughout its batch decoration business[87]. - The company has received over 100 awards since its establishment, including the "Quality Management Excellence Award" from Vanke Real Estate[87]. - The company emphasizes that project quality is a core factor for its development[87].