Revenue and Profitability - The company's revenue for Q1 2022 was ¥404,179,017.16, representing an increase of 11.46% compared to ¥362,606,849.33 in the same period last year[3] - Net profit attributable to shareholders decreased by 32.68% to ¥17,212,520.75 from ¥25,568,750.42 year-on-year[3] - Total operating revenue for Q1 2022 was CNY 404,179,017.16, an increase of 11.5% compared to CNY 362,606,849.33 in Q1 2021[19] - Net profit for Q1 2022 was CNY 17,212,520.75, a decrease of 32.8% from CNY 25,568,750.42 in Q1 2021[21] - Basic and diluted earnings per share for Q1 2022 were CNY 0.17, down from CNY 0.25 in Q1 2021[22] - The company reported a total comprehensive income of CNY 3,640,692.49 for Q1 2022, down from CNY 17,903,039.68 in Q1 2021[22] Cash Flow and Financial Activities - The net cash flow from operating activities improved significantly to ¥16,330,734.41, a turnaround from a negative cash flow of ¥99,833,686.22 in the previous year, marking a 116.36% increase[3] - Cash inflow from operating activities totaled CNY 463,939,508.46, compared to CNY 326,631,445.95 in the previous year, reflecting a significant increase[23] - The total cash outflow from investment activities was ¥88,711,535.86, compared to ¥144,489,321.40 in the same period last year, indicating a reduction in investment spending[24] - Cash inflow from financing activities amounted to ¥335,465,120.97, up from ¥193,827,441.65 in Q1 2021, reflecting increased borrowing[24] - The net cash flow from financing activities was ¥82,115,982.67, a decrease from ¥149,391,559.59 in the previous year, suggesting a shift in financing strategy[24] - The company reported a net increase in cash and cash equivalents of ¥11,101,855.00 for Q1 2022, contrasting with a decrease of ¥8,494,006.69 in Q1 2021[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,329,656,231.34, up 2.48% from ¥2,273,328,629.29 at the end of the previous year[3] - The company’s total liabilities increased, with accounts payable decreasing to CNY 205,376,675.05 from CNY 249,336,931.82, a decline of about 17.63%[17] - Total liabilities as of Q1 2022 were CNY 1,030,682,399.32, an increase from CNY 1,000,549,088.34 in Q1 2021[19] - The company’s equity position remains strong, with total equity reflecting the growth in total assets and the capital increase activities undertaken[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,742[9] - The largest shareholder, Wang Zhoulin, holds 27.08% of the shares, totaling 27,809,460 shares[9] Operational Efficiency - The company recorded a 90.69% increase in other income, amounting to ¥5,327,135.54, attributed to enhanced tax refunds for welfare enterprises[6] - Financial expenses surged by 188.67% to ¥3,828,116.77, primarily due to increased interest expenses[6] - Research and development expenses for Q1 2022 were CNY 8,824,338.99, a decrease of 13.9% from CNY 10,275,511.88 in Q1 2021[19] - The company paid ¥39,369,530.21 in employee-related cash payments, down from ¥45,924,277.71 in the previous year, reflecting cost management efforts[24] - The company’s cash outflow for taxes was ¥6,624,512.90, a decrease from ¥8,662,092.93 in Q1 2021, indicating improved tax efficiency[24] - The company’s cash outflow for other operating activities was ¥40,198,529.77, down from ¥45,267,053.54 in the same period last year, suggesting operational efficiency improvements[24] Investment and Capital Activities - The company completed a capital increase of USD 40 million to its wholly-owned subsidiary, Vietnam Haixin New Materials Co., Ltd., raising its registered capital from USD 69 million to USD 109 million[12] - The company holds 100% equity in Vietnam Haixin, which remains consolidated in the company's financial statements[12]

Financial Performance - The company's operating revenue for 2021 was ¥1,797,567,793.70, representing a 46.87% increase compared to ¥1,223,943,244.11 in 2020[21]. - The net profit attributable to shareholders decreased by 48.50% to ¥96,971,521.81 in 2021 from ¥188,287,509.85 in 2020[21]. - The net cash flow from operating activities was negative at -¥109,164,941.48, a decline of 157.44% compared to ¥190,055,860.92 in 2020[21]. - Basic and diluted earnings per share fell by 58.41% to ¥0.94 in 2021 from ¥2.26 in 2020[21]. - Total assets increased by 30.47% to ¥2,273,328,629.29 at the end of 2021, up from ¥1,742,467,891.34 at the end of 2020[22]. - The net assets attributable to shareholders rose by 5.15% to ¥1,272,779,540.95 at the end of 2021, compared to ¥1,210,486,241.25 at the end of 2020[22]. - The company reported a total of ¥432.02 billion in PVC flooring exports in 2021, marking a 12.2% increase from 2020[30]. - The weighted average return on equity decreased to 7.82% in 2021 from 28.52% in 2020, a drop of 20.70%[21]. - The company experienced a decline in net profit after deducting non-recurring gains and losses, which was ¥96,208,577.94 in 2021, down 43.20% from ¥169,380,258.26 in 2020[21]. - The company reported a total of ¥762,943.87 in non-recurring gains in 2021, significantly lower than ¥18,907,251.59 in 2020[27]. Risks and Challenges - The company faces several risks including US-China trade friction, changes in export tax rebate policies, exchange rate fluctuations, raw material price volatility, accounts receivable collection risks, and COVID-19 pandemic risks[6]. - The company is monitoring raw material price volatility, particularly for PVC, which could affect profitability, and is maintaining strong relationships with suppliers[110]. - The ongoing COVID-19 pandemic presents potential risks to export operations, with the company closely tracking developments to minimize adverse effects[111]. - Changes in export tax rebate policies could significantly affect the company's financial performance, as export tax rebates constitute a large portion of revenue[109]. - Currency fluctuations, particularly in USD and EUR, pose risks to the company's export business, with measures in place to mitigate these impacts[109]. - The company faces risks from U.S.-China trade tensions, with a potential 25% tariff impacting operations, prompting a strategy to expand its Vietnam factory to mitigate risks[108]. Business Operations - The company operates several wholly-owned subsidiaries, including Kimay Floors Inc. in the US and Vietnam Haixin New Materials Co., Ltd.[13]. - The company employs an ODM production model, primarily serving international flooring brands and retailers, which helps reduce inventory risks and capital occupation[46]. - The company maintains a dual supplier strategy for raw materials to ensure supply chain stability, typically sourcing from multiple qualified suppliers[45]. - The production process for LVT, WPC, and SPC flooring involves multiple steps including material preparation, pressing, and quality inspection, ensuring high product standards[39][41]. - The company has established partnerships with well-known international brands such as KINGFISHER and HORNBACH, enhancing its market presence[48]. Research and Development - The company holds 21 patents, including 5 invention patents and 1 design patent, and has established a research and development center to promote new technology and product development[55]. - Research and development expenses rose by 30.13% to ¥48,150,348.78, reflecting increased direct investment and employee compensation in the R&D department[71]. - The company plans to increase R&D investment to innovate products, processes, and technologies to meet higher customer demands[104]. - Investment in R&D has increased by 15%, focusing on developing new materials and technologies to enhance product offerings[192]. Market Presence and Strategy - The company is a leading PVC flooring manufacturer and exporter in China, focusing on R&D, production, and sales of PVC flooring products widely used in various public and residential buildings[37]. - The company has a diversified customer base across multiple countries, including the USA, Netherlands, Germany, and Canada, indicating a strong market presence[103]. - The company aims to enhance its brand influence and expand its product line to become a comprehensive supplier in the interior decoration materials sector over the next five to ten years[104]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[187]. Governance and Management - The company has established a clear governance structure, with a board of 7 members, including 3 independent directors, complying with legal requirements[115]. - The company has a performance evaluation and incentive mechanism for management, ensuring transparency and fairness in the hiring process[116]. - The company maintains an independent financial structure, with a complete accounting system and independent decision-making in financial management[120]. - The company has a dedicated audit committee that oversees financial reporting and internal controls, enhancing governance effectiveness[118]. - The company has implemented measures to improve internal control systems, ensuring operational efficiency and risk management[118]. Employee and Social Responsibility - The company has a competitive salary and benefits policy to attract and retain talent, with a performance-based salary increase system[157]. - The total number of employees at the end of the reporting period was 1,545, with 1,119 in the parent company and 426 in major subsidiaries[155]. - The company actively engages in social responsibility initiatives, including regular blood donation activities and providing employment opportunities for disabled individuals[176]. - The company has established an independent labor union to represent and protect workers' interests[172]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 25% for the next fiscal year, driven by new product launches and market expansion[188]. - The company aims to improve operational efficiency, targeting a reduction in production costs by 15% through automation and process optimization[186]. - The company is committed to sustainability, with a goal to reduce carbon emissions by 30% over the next five years[188]. - A strategic acquisition of a local competitor was announced, expected to enhance production capacity by 30%[188].

Financial Performance - The company's revenue for Q3 2021 was ¥475,017,634.84, representing a 39.50% increase year-over-year, while the year-to-date revenue reached ¥1,301,406,327.40, up 42.33% compared to the same period last year[3] - The net profit attributable to shareholders for Q3 2021 was ¥24,323,379.30, a decrease of 54.69% year-over-year, with a year-to-date net profit of ¥76,934,234.50, down 47.83%[3] - The basic earnings per share for Q3 2021 was ¥0.24, reflecting a decline of 65.71% compared to the same period last year, while the diluted earnings per share also stood at ¥0.24[3] - Total operating revenue for Q3 2021 reached CNY 1,301,406,327.40, a significant increase of 42.3% compared to CNY 914,370,858.33 in the same period last year[23] - Operating profit for the period was CNY 80,808,052.54, down 50.2% from CNY 162,269,365.92 in Q3 2020[24] - Net profit attributable to the parent company was CNY 76,934,234.50, a decrease of 47.9% compared to CNY 147,478,186.71 in the previous year[24] - The company reported a total comprehensive income of CNY 74,798,916.08, compared to CNY 141,956,303.87 in the same period last year[25] - Basic and diluted earnings per share were both CNY 0.75, down from CNY 1.91 in Q3 2020[25] Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥2,145,950,762.52, an increase of 23.16% from the end of the previous year[4] - Total liabilities increased to CNY 882,667,605.19, up from CNY 531,981,650.09 year-over-year[21] - Total equity attributable to shareholders reached CNY 1,263,283,157.33, compared to CNY 1,210,486,241.25 in the same period last year[21] - The company's current assets totaled CNY 1.20 billion, up from CNY 1.09 billion at the end of 2020, indicating an increase of approximately 9.4%[19] - The company’s fixed assets grew to CNY 481.48 million, up from CNY 442.03 million, indicating an increase of about 8.9%[19] Cash Flow - The company reported a net cash flow from operating activities of -¥209,700,427.39, a significant decline of 199.79% compared to the previous year[9] - Cash inflow from operating activities was CNY 1,320,046,444.72, an increase from CNY 1,134,846,239.86 in Q3 2020[25] - The net cash flow from operating activities was -209,700,427.39 CNY, compared to a positive cash flow of 210,150,533.91 CNY in the previous year[27] - The total cash outflow from investing activities was 408,164,318.35 CNY, resulting in a net cash flow from investing activities of -75,628,950.21 CNY[27] - The net cash flow from financing activities was 263,876,474.91 CNY, down from 707,378,703.25 CNY in the previous year[28] - The total cash and cash equivalents at the end of the period were 322,179,659.18 CNY, a decrease from 833,828,448.56 CNY at the end of the previous year[28] Accounts Receivable and Inventory - The net accounts receivable increased by 96.20% to ¥306,615,510.35, primarily due to increased sales volume during the reporting period[8] - Accounts receivable rose significantly to CNY 306.62 million from CNY 156.28 million, reflecting an increase of about 96.1%[18] - Inventory levels rose by 59.44% to ¥416,138,170.34, attributed to increased raw material reserves and stock[8] - Inventory increased to CNY 416.14 million, compared to CNY 260.99 million, marking a growth of approximately 59.3%[19] Investments and Contracts - The company’s investment income surged by 836.42% to ¥3,171,456.45, primarily due to increased returns from financial products during the reporting period[9] - The company signed a construction contract for its subsidiary in Vietnam, with a total contract value of approximately CNY 197.68 million[14] - The company’s long-term investments in equity instruments were valued at CNY 35.01 million, reflecting a new addition to its asset portfolio[19] Borrowings and Costs - Short-term borrowings increased by 148.47% to ¥480,321,690.76, mainly due to an increase in credit borrowings during the reporting period[9] - The company experienced a 67.15% increase in operating costs, totaling ¥1,045,841,456.29, driven by higher sales volume and material costs[9] - The company’s short-term borrowings increased to CNY 480.32 million from CNY 193.31 million, representing a significant rise of approximately 148.5%[19] Research and Development - Research and development expenses amounted to CNY 35,243,576.40, up from CNY 27,497,761.29 in the previous year, reflecting a focus on innovation[23] Other Information - The company paid 136,084,736.69 CNY to employees and 28,162,578.35 CNY in taxes during the quarter[27] - The company did not require adjustments to the balance sheet for the new leasing standards as there were no right-of-use assets at the beginning of the year[29] - The third-quarter report was not audited[30]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥826.39 million, representing a 43.98% increase compared to ¥573.98 million in the same period last year[22]. - The net profit attributable to shareholders of the listed company decreased by 43.91% to approximately ¥52.61 million, down from ¥93.79 million in the previous year[22]. - Basic earnings per share dropped by 58.20% to ¥0.51, down from ¥1.22 in the previous year[22]. - The gross profit margin for the rubber and plastic products segment decreased by 10.45% to 20.78% compared to the previous year[65]. - The company reported a significant increase in sales revenue from 515,989,473.60 CNY to 708,094,468.50 CNY, reflecting a growth of approximately 37.1%[174]. - The company reported a net profit of 392 million yuan, which is a decrease of 22 million yuan or 5.3% year-over-year[181]. - The total comprehensive income for the period was approximately 88.66 million RMB, reflecting a decrease of 8.8 million RMB compared to the previous period[190]. Cash Flow and Investments - The net cash flow from operating activities was negative at approximately -¥151.09 million, a decline of 217.32% compared to ¥128.79 million in the same period last year[22]. - The company reported a net cash inflow from financing activities of ¥213,750,103.81, a significant increase of 1,987.70% due to increased bank borrowings[62]. - The net cash flow from investing activities was 51,753,680.11 CNY, a significant improvement from -95,984,513.16 CNY in the previous period[172]. - Cash inflow from financing activities reached 342,843,136.48 CNY, an increase from 127,096,886.09 CNY in the previous period[172]. - The company achieved a cash and cash equivalents net increase of ¥111,107,201.83, marking a 417.74% rise compared to the previous period[62]. Assets and Liabilities - Total assets increased by 16.97% to approximately ¥2.04 billion, compared to ¥1.74 billion at the end of the previous year[22]. - Total liabilities increased to CNY 800,427,127.38 from CNY 531,981,650.09, indicating a rise of about 50.4%[155]. - The total equity attributable to shareholders increased to CNY 1,237,797,267.76 from CNY 1,210,486,241.25, reflecting a growth of about 2.3%[156]. - Accounts receivable increased to 302,294.67 million, representing 14.83% of total assets, up by 5.86% due to increased sales[69]. - Inventory reached 357,849.34 million, accounting for 17.56% of total assets, an increase of 2.58% attributed to higher raw materials and finished goods[69]. Market Position and Products - The company is a leading PVC flooring manufacturer in China, with products widely used in various sectors including commercial and residential buildings[30]. - The company produces three main types of PVC flooring: LVT, WPC, and SPC, each with distinct advantages such as environmental friendliness and durability[31][33]. - The company has seen a steady increase in PVC flooring demand despite the COVID-19 pandemic, as consumers are spending more time at home[35]. - The company’s products are increasingly replacing traditional flooring materials in the European and American markets due to their superior characteristics[34]. - The company has established strong partnerships with international flooring brands and retailers, including KINGFISHER and HORNBACH, primarily selling products through the ODM model[53]. Research and Development - Research and development investment rose by 32.82% to ¥22,482,722.87, reflecting the company's commitment to enhancing product innovation[62]. - The company has a total of 18 patents, including 5 invention patents, and continues to invest in R&D to maintain its technological advantage[56]. - The company plans to continue increasing R&D investment, focusing on functional formulations and design to enhance product performance[56]. Risks and Challenges - The company faces risks including US-China trade tensions, changes in export tax rebate policies, and fluctuations in raw material prices[5]. - The company is closely monitoring changes in export tax rebate policies, which could significantly impact its financial performance[86]. - The company is closely monitoring the COVID-19 pandemic situation, particularly in key markets like the US, Canada, and Germany, to mitigate potential impacts on export business[91]. Shareholder Information - Major shareholder Wang Zhoulin holds 27.08% of the shares, totaling 27,809,460 shares, with a pledge of 1,680,000 shares[138]. - The company’s shareholding structure includes significant holdings by domestic natural persons and non-state-owned legal entities[138]. - The total share capital increased to 102,676,000 shares after the distribution of 29,336,000 shares based on a capital reserve conversion[133]. Corporate Governance - The company's half-year financial report has not been audited[107]. - The financial statements were approved by the board of directors on August 17, 2021[193]. - The company has not engaged in any securities investments during the reporting period[78].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[14]. - The net profit attributable to shareholders was RMB 150 million, an increase of 20% compared to the previous year[14]. - The company's operating revenue for 2020 was ¥1,223,943,244.11, representing a 42.52% increase compared to ¥858,773,055.16 in 2019[20]. - The net profit attributable to shareholders for 2020 was ¥188,287,509.85, a 36.12% increase from ¥138,322,611.86 in 2019[20]. - The net profit after deducting non-recurring gains and losses was ¥169,380,258.26, up 30.98% from ¥129,315,335.17 in 2019[20]. - The company's total assets at the end of 2020 reached ¥1,742,467,891.34, an 86.08% increase from ¥936,390,522.60 at the end of 2019[20]. - The net assets attributable to shareholders increased by 189.62% to ¥1,210,486,241.25 at the end of 2020 from ¥417,959,501.44 at the end of 2019[20]. - The basic earnings per share for 2020 was ¥3.16, a 25.90% increase from ¥2.51 in 2019[20]. - The weighted average return on equity for 2020 was 28.52%, down from 39.15% in 2019, indicating a decrease of 10.63%[20]. - The company reported a net cash flow from operating activities of ¥190,055,860.92, a slight increase of 3.42% from ¥183,775,780.25 in 2019[20]. Market Expansion and Strategy - The company plans to distribute a cash dividend of RMB 3 per 10 shares, totaling approximately RMB 22 million[6]. - The company has set a revenue target of RMB 1.5 billion for 2021, reflecting a growth forecast of 25%[14]. - The company is expanding its market presence in Southeast Asia, with plans to establish a manufacturing facility in Vietnam by mid-2021[14]. - A strategic acquisition of a local competitor is under consideration to enhance market share and operational efficiency[14]. - The company aims to expand its market presence in response to the growing demand in developed countries for PVC flooring products[33]. - The company is focused on new product development and technological innovation to enhance its competitive edge in the PVC flooring market[36]. - The company is exploring partnerships with technology firms to integrate advanced manufacturing techniques, which could improve efficiency by 20%[161]. - Future marketing plans include expanding into new international markets while maintaining strong relationships with existing clients, particularly in North America and Europe[121]. Product Development and Innovation - New product development includes the launch of a new line of eco-friendly PVC flooring, expected to contribute an additional RMB 100 million in revenue[14]. - The company aims to increase its R&D investment by 30% in 2021 to accelerate innovation and product development[14]. - The company has allocated 200 million RMB for research and development in the upcoming year to foster innovation and improve product quality[163]. - The company has developed three main types of flooring products: LVT, WPC, and SPC, each with distinct advantages and applications[29]. - The company is committed to improving product quality and stability through advanced manufacturing processes and technology[36]. - The company is committed to increasing R&D efforts to enhance product differentiation and technical value, aiming to improve market competitiveness[127]. Risk Management - The company has identified risks including fluctuations in raw material prices and potential impacts from the COVID-19 pandemic on supply chains[6]. - The company is actively monitoring raw material prices, particularly PVC resin, which is closely linked to oil and coal prices, to mitigate cost impacts on performance[129]. - The company has a structured approach to risk management, focusing on trade policy changes, currency fluctuations, and raw material price volatility[128]. - The company implemented measures to address potential impacts from the COVID-19 pandemic, ensuring minimal disruption to production and delivery[130]. Financial Management and Shareholder Relations - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares, totaling RMB 22,002,000.00, and will also increase its capital stock by 29,336,000 shares, raising the total share capital to 102,676,000 shares[136]. - The company has established a profit distribution policy to ensure stable returns for shareholders[157]. - The company is committed to maintaining good relationships with customers to enhance its sustainable return capabilities[157]. - The company guarantees strict adherence to the commitments disclosed in its initial public offering prospectus[160]. - The company will compensate investors for losses incurred due to unfulfilled commitments in securities trading[160]. - The company has established a commitment to maintain transparency in its shareholding structure and reduction activities[145]. Sustainability and Corporate Responsibility - The management emphasized a commitment to sustainability, aiming for a 50% reduction in carbon emissions by 2025[164]. - The company has adopted ISO14001 environmental management system, focusing on pollution prevention and sustainable development through energy efficiency improvements and waste reduction[191]. - The company has committed to social responsibility by adhering to laws and regulations, ensuring compliance with various legal frameworks including the Company Law and Labor Law[189]. - The company has established a comprehensive employee rights protection system, providing social insurance for all employees, including pensions and medical insurance[190]. Operational Efficiency - The company employs an order-based production model to reduce inventory and sales risk, ensuring efficient capital utilization[49]. - The company maintains a comprehensive quality management system to monitor production and ensure product quality throughout the manufacturing process[49]. - The company has implemented ISO9000 quality management system to ensure product quality, with a dedicated quality management department overseeing compliance with national and industry standards[190]. - The company is focusing on improving product quality and equipment levels by introducing advanced production and testing equipment[123].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[14]. - The net profit attributable to shareholders was RMB 150 million, an increase of 20% compared to the previous year[14]. - The company's operating revenue for 2020 was ¥1,223,943,244.11, representing a 42.52% increase compared to ¥858,773,055.16 in 2019[21]. - The net profit attributable to shareholders for 2020 was ¥188,287,509.85, a 36.12% increase from ¥138,322,611.86 in 2019[21]. - The net cash flow from operating activities for 2020 was ¥190,055,860.92, showing a 3.42% increase from ¥183,775,780.25 in 2019[21]. - The total assets at the end of 2020 were ¥1,742,467,891.34, an 86.08% increase from ¥936,390,522.60 at the end of 2019[21]. - The net assets attributable to shareholders at the end of 2020 were ¥1,210,486,241.25, a 189.62% increase from ¥417,959,501.44 at the end of 2019[21]. - The basic earnings per share for 2020 was ¥3.16, a 25.90% increase from ¥2.51 in 2019[21]. - The diluted earnings per share for 2020 was also ¥3.16, reflecting the same 25.90% increase from ¥2.51 in 2019[21]. - The weighted average return on equity for 2020 was 28.52%, down from 39.15% in 2019, a decrease of 10.63%[21]. Market Expansion and Strategy - The company plans to distribute a cash dividend of RMB 3 per 10 shares, totaling approximately RMB 22 million[6]. - The company has set a revenue target of RMB 1.5 billion for 2021, reflecting a growth forecast of 25%[14]. - The company is expanding its market presence in Southeast Asia, with a projected investment of RMB 50 million in marketing and distribution channels[14]. - A strategic acquisition of a local competitor is under consideration to enhance market share and operational efficiency[14]. - The company is investing in advanced manufacturing technologies, aiming to reduce production costs by 10% over the next two years[14]. - The company is enhancing its international competitiveness through improved product design and production technology, aiming to capture a larger share of the global market[33]. - The company aims to leverage its scale advantages to negotiate better prices and secure stable supplies from upstream raw material producers[39]. - The company is focused on technological innovation and product upgrades to mitigate the adverse effects of raw material price fluctuations[39]. Product Development and Innovation - New product development includes the launch of a new line of eco-friendly PVC flooring, expected to contribute an additional RMB 100 million in revenue[14]. - The company holds 18 patents, including 5 invention patents, and continues to invest in R&D to maintain its technological advantages[56]. - The company has invested in advanced production equipment, improving automation and energy efficiency, which has led to significant cost advantages[67]. - The company plans to enhance R&D investment to innovate products, processes, and technologies, aiming to meet customer demands for higher quality and more functional products[120]. Risks and Challenges - Risks identified include fluctuations in raw material prices and potential impacts from ongoing trade tensions, which could affect profit margins[6]. - The company faces risks from U.S.-China trade tensions, which could impact its operating performance due to potential tariffs on exports[126]. - Changes in export tax rebate policies could significantly affect the company's operating performance, as it relies heavily on export tax rebates[127]. - The company is exposed to exchange rate fluctuations, particularly with USD and EUR, which can impact its pricing competitiveness and financial results[128]. Corporate Governance and Compliance - The company has established a sound organizational structure and operational processes for its futures trading activities[106]. - The independent directors have agreed to authorize the company to conduct futures trading within a limit of CNY 20 million, ensuring it does not harm the interests of shareholders[106]. - The company has complied with relevant laws and regulations regarding its futures trading activities[106]. - The company reported no significant litigation or arbitration matters during the reporting period[169]. - The company has implemented strict risk control measures for its derivative investments, adhering to its internal management systems[106]. Shareholder Relations and Dividends - The company distributed a cash dividend of RMB 3.00 per 10 shares, totaling RMB 22,002,000.00 for the year 2020, which represents 11.69% of the net profit attributable to ordinary shareholders[135]. - The company’s cash dividend policy is in compliance with its articles of association and has been transparently executed[136]. - The company’s total cash dividends over the past three years have been consistent, with 2019 and 2018 both distributing RMB 1.60 per 10 shares[137]. - The company plans to repurchase shares, with the total amount not exceeding 20% of the net profit attributable to shareholders from the previous fiscal year[147]. Environmental and Social Responsibility - The company has implemented a comprehensive environmental management system (ISO 14001) to ensure compliance with environmental protection policies[190]. - The company has actively participated in social welfare activities, including providing employment opportunities for disabled individuals[192]. - The company has established a harmonious public relationship by actively accepting supervision from government departments[191]. Future Outlook - The company aims to improve profitability, core competitiveness, and sustainable development capabilities through these projects[155]. - The company is committed to protecting the interests of minority shareholders by ensuring sustainable business development[155]. - The company acknowledges the potential dilution of immediate returns due to public offerings and is actively addressing external environmental changes[155]. - The company plans to continue focusing on the PVC flooring market, which is dominated by foreign brands, indicating a challenging environment for new domestic entrants[118].

Financial Performance - The company's revenue for Q1 2021 was ¥362,606,849.33, representing a 61.75% increase compared to ¥224,174,660.42 in the same period last year[8] - Net profit attributable to shareholders decreased by 18.77% to ¥25,568,750.42 from ¥31,478,673.68 year-on-year[8] - The net profit after deducting non-recurring gains and losses fell by 26.19% to ¥24,268,599.42 compared to ¥32,878,160.58 in the previous year[8] - Basic and diluted earnings per share decreased by 38.60% to ¥0.35 from ¥0.57 year-on-year[8] - Total operating revenue for Q1 2021 reached ¥362,606,849.33, a significant increase of 62% compared to ¥224,174,660.42 in the same period last year[41] - Net profit for Q1 2021 was ¥25,568,750.42, a decrease of 18.5% from ¥31,478,673.68 in Q1 2020[43] Cash Flow - The net cash flow from operating activities was negative at -¥99,833,686.22, a decline of 510.80% from ¥24,302,152.93 in the same period last year[8] - Cash received from operating activities decreased by 77.15% to ¥2,795,337.39, mainly due to reduced recovery of deposits and guarantees[16] - The cash flow from operating activities showed a net outflow of CNY 99,833,686.22, contrasting with a net inflow of CNY 24,302,152.93 in the previous year[51] - The cash flow from investing activities resulted in a net outflow of CNY 57,869,178.93, compared to a net outflow of CNY 45,608,563.78 in the same period last year[52] - The cash flow from financing activities generated a net inflow of CNY 149,391,559.59, significantly higher than the previous year's net inflow of CNY 12,509,694.57[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,951,330,397.02, an increase of 11.99% from ¥1,742,467,891.34 at the end of the previous year[8] - Total current assets as of March 31, 2021, amounted to CNY 1,225,559,055.86, an increase from CNY 1,094,198,052.27 as of December 31, 2020, representing an increase of approximately 12%[33] - Total liabilities as of March 31, 2021, were CNY 713,063,739.62, up from CNY 531,981,650.09, marking an increase of around 33.9%[35] - Total liabilities rose to ¥537,299,392.24, up from ¥456,398,450.70, indicating an increase of 17.7%[39] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,895[12] - Net assets attributable to shareholders increased by 2.29% to ¥1,238,266,657.40 from ¥1,210,486,241.25 at the end of the previous year[8] Research and Development - Research and development expenses increased by 50.58% to ¥10,275,511.88, reflecting a commitment to increased R&D investment[16] - The company reported a decrease in research and development expenses to ¥10,275,511.88 from ¥6,824,024.58, reflecting a 50.5% increase year-over-year[42] Investment Activities - The company has committed a total investment of RMB 47,456.82 million for the annual production of 20 million square meters of PVC flooring, with RMB 3,377.63 million invested in the current reporting period, representing 21.77% of the total investment[24] - The company has not yet commenced the investment for the research and development project with a commitment of RMB 5,988.72 million, with no funds utilized to date[24] Tax and Other Expenses - Tax payable increased by 378.97% to ¥7,179,813.24, resulting from higher sales and increased VAT payable[16] - The company reported a decrease in tax expenses, with CNY -103,303.92 compared to CNY 2,645,861.44 in the previous year[47] Financial Derivatives and Risk Management - The company plans to conduct financial derivative transactions not exceeding USD 50 million, with the authorization valid for 12 months from the shareholders' meeting approval[22] - The company aims to mitigate foreign exchange and interest rate risks through financial derivative transactions, which will not affect the normal operation of its funds[22] Other Financial Information - The company reported non-recurring gains of ¥1,300,151.00 during the reporting period[9] - The company has not reported any significant changes in accounting policies or principles regarding derivative investments compared to the previous reporting period[22] - The first quarter report was not audited, which may affect the reliability of the financial data presented[58]

Financial Performance - Revenue for the period was ¥340,518,503.31, a 50.67% increase compared to the same period last year[8] - Net profit attributable to shareholders was ¥53,685,414.27, reflecting a 25.59% increase year-over-year[8] - Net profit for the period was ¥147,478,186.71, an increase of 48.85% compared to the same period last year, attributed to higher operating profits[16] - Total operating revenue for Q3 2020 reached ¥340,518,503.31, a significant increase from ¥226,001,319.31 in the same period last year, representing a growth of approximately 50.7%[39] - Net profit for Q3 2020 was ¥53,685,414.27, compared to ¥42,748,042.60 in the previous year, reflecting a growth of approximately 25.6%[41] - Total operating revenue for the period reached ¥914,370,858.33, a significant increase of 53.1% compared to ¥596,798,435.81 in the previous period[47] - Net profit for the period was ¥147,478,186.71, representing a 48.7% increase from ¥99,078,707.07 in the same period last year[49] Assets and Liabilities - Total assets increased to ¥1,860,274,928.55, representing a 98.66% increase compared to the previous year[8] - The total liabilities of the company were CNY 684,689,304.70, compared to CNY 518,431,021.16 at the end of 2019, which is an increase of approximately 32.1%[33] - The company's current assets totaled CNY 1,337,554,708.36, up from CNY 478,764,815.67 at the end of 2019, indicating a growth of about 179.5%[31] - Total liabilities increased to ¥520,171,181.31 from ¥433,718,680.16, marking an increase of about 19.9%[40] - The company's short-term borrowings increased to CNY 321,530,839.20 from CNY 194,495,926.98, indicating a rise of approximately 65.3%[32] Shareholder Information - Net assets attributable to shareholders reached ¥1,175,585,623.85, up 181.27% year-over-year[8] - The total number of shareholders at the end of the reporting period was 35,882[12] - The top shareholder, Wang Zhoulin, holds 27.08% of the shares, totaling 19,863,900 shares[12] Cash Flow - The net cash flow from operating activities was ¥81,784,922.78, up 16.77% compared to the previous year[8] - Cash received from operating activities increased by 59.92% to ¥964,235,293.25, mainly due to improved collection of receivables[16] - The company received cash from investment totaling ¥646,032,807.91, resulting from the completion of its initial public offering[17] - The net cash flow from financing activities was CNY 707.38 million, a substantial increase from CNY 6.42 million in the previous year[58] Research and Development - Research and development expenses rose to ¥27,497,761.29, a 37.34% increase, reflecting the company's commitment to enhancing R&D investments[16] - Research and development expenses for the quarter were ¥10,570,462.32, compared to ¥8,134,094.51 in the previous year, showing an increase of about 30.0%[40] - Research and development expenses totaled ¥27,497,761.29, up 37.4% from ¥20,022,342.64 in the prior period, indicating a focus on innovation[48] Comprehensive Income - The total comprehensive income for the period was ¥141,956,303.87, compared to ¥97,419,546.49 in the previous period, an increase of 45.7%[50] - The total comprehensive income for the third quarter was approximately CNY 145.95 million, compared to CNY 97.34 million in the same period last year, representing an increase of 50%[54] Financial Position - Basic earnings per share were ¥0.98, an increase of 25.64% year-over-year[8] - The weighted average return on equity was 10.02%, a decrease of 1.89% compared to the previous year[8] - The company's capital reserve increased by 414.66% to ¥748,319,227.93, also due to the initial public offering[16] - The company's sales expenses increased by 39.66% to ¥91,693,578.32, reflecting the growth in sales activities[16] Other Financial Metrics - The company reported non-recurring gains and losses totaling ¥9,493,105.62 for the year-to-date period[10] - Financial expenses totaled ¥12,863,244.07, compared to a negative expense of -¥1,996,979.50 in the same period last year, indicating a significant shift in financial costs[40] - The company experienced a foreign exchange loss of ¥5,521,882.84, compared to a loss of ¥1,659,160.58 in the previous period, indicating potential currency risk[49]