Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,046,682,572.75, representing a 35.36% increase compared to CNY 773,257,791.82 in the same period last year[20]. - The net profit attributable to shareholders of the listed company reached CNY 192,449,930.57, a significant increase of 159.62% from CNY 74,128,106.71 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 187,394,139.36, up 170.01% from CNY 69,402,604.56 in the previous year[20]. - The net cash flow from operating activities was CNY 248,650,805.96, reflecting a 50.23% increase compared to CNY 165,511,038.53 in the same period last year[20]. - Basic earnings per share increased by 94.69% to CNY 0.4511 from CNY 0.2317 in the previous year[20]. - Total revenue for the reporting period was approximately 1.05 billion, representing a 35.36% increase compared to the previous year[57]. - The company's total revenue for the first half of 2021 was approximately CNY 745.54 million, with a net profit of CNY 219.88 million, indicating a strong performance in the women's apparel sector[71]. - The company's total revenue for the reporting period increased by 35.36%, with women's clothing accounting for 99.32% of total revenue, which grew by 34.87% year-on-year[62]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,742,341,403.65, a 4.31% increase from CNY 3,587,755,693.15 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company were CNY 2,943,396,474.76, showing a slight increase of 0.81% from CNY 2,919,811,498.50 at the end of the previous year[20]. - The company's total liabilities as of the end of the reporting period amounted to CNY 747,554,760.14, up from CNY 663,754,958.30 at the end of the previous period, reflecting a growth of 12.6%[163]. - Total equity increased to CNY 2,980,384,726.95 from CNY 2,971,719,912.52, indicating a slight growth of 0.3%[163]. Operational Efficiency - The company operates 506 stores across various regions, with 405 self-operated stores contributing 748 million yuan in revenue, a 33% increase year-on-year[47]. - The company’s self-operated store ratio remains above 80%, highlighting its focus on self-operated business as the main revenue driver[47]. - Inventory balance decreased by 15.36% year-on-year, indicating improved inventory turnover efficiency[49]. - The average area of self-operated stores was 169 square meters, with an average sales efficiency of ¥1,843,500 per store[63]. - The company opened 15 new self-operated stores and closed 28 during the reporting period, primarily due to daily operations adjustments[63]. Research and Development - R&D expenses amounted to approximately 32.58 million yuan, reflecting a year-on-year increase of 25.12%[39]. - The company plans to increase investment in R&D and design to better align with fashion trends and consumer preferences, aiming to mitigate design risks[87]. - Research and development expenses for the first half of 2021 were CNY 32,575,267.71, compared to CNY 26,035,361.25 in the same period of 2020, showing an increase of 25.2%[164]. E-commerce and Market Strategy - The online retail sales in the first half of 2021 reached 61.13 billion yuan, growing by 23.2% year-on-year, indicating a strong shift towards e-commerce[36]. - E-commerce channel revenue reached 230 million, a year-on-year increase of 38%, accounting for over 20% of total revenue[48]. - The company established strategic partnerships with major e-commerce platforms, enhancing online sales capabilities[48]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2023[111]. Corporate Governance and Social Responsibility - The company has established a corporate governance structure including a shareholders' meeting, board of directors, and supervisory board[195]. - The company actively participates in social responsibility initiatives, including charitable donations and blood donation activities, fostering community engagement[100]. - The company has received recognition as an advanced unit in party building work in Fujian Province, highlighting its commitment to corporate governance and social responsibility[100]. - The company has not faced any administrative penalties for environmental issues during the reporting period and has established robust environmental management standards[97]. Shareholder Relations and Stock Incentive Plan - The company approved a restricted stock incentive plan to promote sustainable development and align interests with shareholders[93]. - The company completed the initial grant registration of the 2021 restricted stock incentive plan, granting a total of 5.002 million shares to 42 incentive objects, with the listing date set for May 24, 2021[95]. - The company has committed to not transferring or entrusting the management of shares held for 36 months from the date of listing, which started on October 26, 2020[103]. - The company has outlined measures to address potential dilution of immediate returns for shareholders[106]. Future Outlook - The company has set a revenue guidance of 2.5 billion RMB for the full year 2021, indicating a growth target of 10%[109]. - New product launches are expected to contribute an additional 300 million RMB in revenue by the end of 2021[110]. - The company has outlined its future outlook and growth strategies in the context of market expansion and product development[104].

Financial Performance - The company's operating revenue for 2020 was ¥1,833,077,163.47, a decrease of 6.72% compared to ¥1,965,209,791.05 in 2019[16] - The net profit attributable to shareholders for 2020 was ¥178,252,533.67, down 26.41% from ¥242,222,998.47 in 2019[16] - Basic earnings per share for 2020 were ¥0.5277, a decrease of 30.28% compared to ¥0.7569 in 2019[16] - The weighted average return on equity for 2020 was 8.36%, down from 12.84% in 2019, a decline of 4.48%[16] - The company's total revenue for Q4 was 606,917,091.66 CNY, representing a significant increase compared to Q1's revenue of 409,976,413.58 CNY[20] - The net profit attributable to shareholders for Q4 reached 58,890,349.12 CNY, up from 39,502,002.72 CNY in Q1, indicating a strong growth trajectory[20] - The net cash flow from operating activities increased significantly by 164.00% to ¥506,329,434.00 from ¥191,790,292.45 in 2019[16] - The company's total sales revenue from the top five customers amounted to ¥365,945,811.35, accounting for 19.96% of the annual total sales[81] Assets and Liabilities - The total assets at the end of 2020 were ¥3,587,755,693.15, representing a 40.44% increase from ¥2,554,683,784.00 at the end of 2019[17] - The net assets attributable to shareholders increased by 48.14% to ¥2,919,811,498.50 from ¥1,971,000,894.07 in 2019[17] - The company's fixed assets increased by 247.05% year-on-year, primarily due to the conversion of certain construction projects into fixed assets[46] - The company's cash and cash equivalents rose by 205.35% year-on-year, mainly due to funds raised from the initial public offering[46] - The total liabilities reached RMB 66,794.42, which is a 14.44% increase from the previous period[200] - The company's debt-to-asset ratio improved to 18.62%, a decrease of 4.23% from the start of the period[200] E-commerce and Sales - E-commerce revenue reached 385 million yuan in 2020, marking a 46% year-on-year increase, with a growing contribution to total revenue[60] - The self-operated sales model generated revenue of ¥1,329,037,008.54, while the e-commerce model contributed ¥385,479,826.07, showing significant growth in online sales[87] - The gross profit margin for the e-commerce sales channel was 56.96%, indicating a slight decline of 7.96% year-on-year[87] - The company has been expanding its e-commerce business since 2017, which has complemented its offline marketing efforts[39] - The company plans to explore new online channels such as Douyin and Xiaohongshu to further boost e-commerce performance[61] Brand and Market Strategy - The company operates seven independent brands, focusing on high-end women's fashion, with JORYA being one of the most recognized brands in the market[27] - The company aims to enhance brand influence and market share through the promotion of domestic brands and the expansion of high-end product offerings[44] - The company emphasizes brand promotion through various channels, including fashion events and social media, to enhance brand awareness and consumer engagement[40] - The company has established a comprehensive sales network covering major cities in China, enhancing its market presence[39] Research and Development - The company invested 58 million yuan in R&D in 2020, with a team of 417 R&D personnel, an increase of 9% year-on-year[48] - Research and development investment amounted to ¥58,958,648, representing 3.22% of operating revenue, a decrease of 10.86% year-on-year[96] - The number of R&D personnel increased by 9.45% to 417, accounting for 9.20% of total employees[96] - The company launched over 4,000 new styles during the reporting period, supported by a design team of over 400 professionals[95] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of ¥4 per 10 shares, based on a total of 426,666,700 shares[4] - The cash dividend for 2020 represents 95.74% of the net profit attributable to ordinary shareholders, which was RMB 178,252,533.67[136] - The company distributed a cash dividend of RMB 3.00 per 10 shares in 2019, totaling RMB 96,000,000, and plans to distribute RMB 4.00 per 10 shares in 2020, totaling RMB 170,666,680[134][136] Corporate Governance and Compliance - The company has committed to a share lock-up period of 36 months starting from the date of its stock listing, which began in October 2020, and is currently in normal compliance[140] - The company has made commitments regarding the non-transfer of shares by major shareholders and related parties, ensuring that no shares will be repurchased by the company during the lock-up period[142] - The company has reported that all commitments made during the IPO process are being fulfilled normally, ensuring transparency and compliance with regulatory requirements[146] - The company has a long-term commitment to ensure the accuracy and completeness of its financial disclosures as stated in the prospectus[146] Social Responsibility and Community Engagement - The company has actively engaged in social responsibility initiatives, focusing on investor rights protection, environmental sustainability, and community welfare[176] - The company donated a total of RMB 1.185 million during the reporting period, including RMB 1 million to support COVID-19 prevention efforts in Xiamen[179] - The company and its subsidiaries complied with environmental protection laws and did not face any penalties related to environmental violations during the reporting period[181] Operational Efficiency - The company implemented an integrated ERP system to unify business flows, logistics, and capital flows, enhancing management efficiency[64] - The company has established a complete supply chain management system, integrating planning, design, procurement, production, sales, and logistics[50] - The company plans to enhance its supply chain management system by optimizing organizational processes and information systems to improve collaboration across departments and reduce product creation cycles[124] Risks and Challenges - The company faces risks from the COVID-19 pandemic, which could impact offline store performance, and is expanding online sales channels to mitigate this risk[126] - Rising labor costs pose a risk to profitability, prompting the company to invest in automation and smart equipment to improve efficiency and reduce reliance on manual labor[129] - The company acknowledges intense competition in the women's apparel industry and aims to enhance brand influence and market competitiveness through improved supply chain responsiveness and R&D capabilities[127]

Financial Performance - Revenue for Q1 2021 reached ¥544,112,612.71, representing a 32.72% increase compared to ¥409,976,413.58 in the same period last year[7] - Net profit attributable to shareholders was ¥94,587,353.87, a significant increase of 139.45% from ¥39,502,002.72 year-over-year[7] - The net profit after deducting non-recurring gains and losses was ¥92,906,366.13, up 158.73% from ¥35,908,663.53 in the previous year[7] - Basic earnings per share rose to ¥0.2217, a 79.66% increase compared to ¥0.1234 in the previous year[7] - Total operating revenue for the current period reached ¥544,112,612.71, an increase of 32.6% compared to ¥409,976,413.58 in the previous period[53] - Net profit for the current period was ¥94,587,353.87, representing a significant increase of 139.9% from ¥39,502,002.72 in the previous period[56] - Total comprehensive income of ¥94,516,371.61, compared to ¥42,095,040.11 in the previous period, an increase of 124.5%[58] - Operating profit surged to ¥122,081,396.83, up from ¥56,742,241.24, indicating a growth of approximately 115.5%[61] Cash Flow and Investments - Operating cash flow for the period was ¥105,977,843.41, reflecting a 62.67% increase from ¥65,150,094.96 in the same quarter last year[7] - Cash flow from operating activities generated a net amount of ¥105,977,843.41, compared to ¥65,150,094.96, showing an increase of approximately 62.7%[66] - Investment activities resulted in a net cash outflow of ¥471,725,226.99, compared to a net inflow of ¥25,888,017.31 in the previous period[67] - The company incurred financial expenses of ¥-6,240,761.55, compared to ¥-2,844,647.40, which is an increase in expenses of approximately 119.5%[61] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,697,583,384.98, a 3.06% increase from ¥3,587,755,693.15 at the end of the previous year[7] - Total liabilities of the company were ¥683,255,514.87 as of March 31, 2021, compared to ¥667,944,194.65 at the end of 2020, indicating an increase of approximately 2.00%[45] - The company's total equity reached ¥3,014,327,870.11 as of March 31, 2021, up from ¥2,919,811,498.50 at the end of 2020, reflecting an increase of about 3.23%[45] - Total current assets amounted to approximately $2.50 billion as of January 1, 2021[80] - Total non-current assets reached approximately $1.14 billion as of January 1, 2021[80] - Total liabilities amounted to approximately $663.75 million as of January 1, 2021[81] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,774[11] - The largest shareholder, Xinha International Limited, holds 63.92% of the shares, totaling 272,716,480 shares[11] Expenses - Management expenses increased by 36.14% to CNY 19,054,324.88, primarily due to rising employee compensation[19] - The company reported a significant increase in income tax expenses, which rose by 142.00% to CNY 33,137,601.02, reflecting the growth in company profits[19] - Research and development expenses were ¥15,340,384.51, up from ¥12,814,663.39, marking a growth of 19.6%[55] - Sales expenses increased to ¥209,372,366.94 from ¥184,874,170.96, a rise of 13.2%[55] Compliance and Governance - The company has no significant non-operating fund occupation by controlling shareholders or related parties during the reporting period[34] - The company has not reported any violations regarding external guarantees during the reporting period[34] - The company executed a new leasing standard starting January 1, 2021, impacting various balance sheet items[73] - The company implemented new leasing standards effective January 1, 2021, resulting in a lease liability of approximately $50.93 million[81] Miscellaneous - The company has initiated a restricted stock incentive plan, which was approved by the board and is aimed at promoting sustainable development[22] - The company reported a total profit of ¥120,112,750.13, compared to ¥55,708,089.68, reflecting an increase of about 115.4%[61] - The company’s first quarter report for 2021 was not audited[83]