Financial Performance - The company's operating revenue for 2020 was CNY 1,064,613,524.52, representing a 5.88% increase compared to CNY 1,005,534,170.91 in 2019[19]. - The net profit attributable to shareholders for 2020 was CNY 112,565,993.15, a 33.66% increase from CNY 84,215,972.77 in 2019[19]. - The net cash flow from operating activities reached CNY 195,227,488.24, a significant increase of 876.67% compared to CNY 19,989,101.68 in 2019[19]. - The total assets at the end of 2020 were CNY 1,881,968,471.31, marking a 44.16% increase from CNY 1,305,495,142.90 at the end of 2019[19]. - The net assets attributable to shareholders increased by 67.04% to CNY 1,257,565,210.58 at the end of 2020, up from CNY 752,843,988.34 in 2019[19]. - The company reported a basic earnings per share of CNY 1.85 for 2020, which is a 33.09% increase from CNY 1.39 in 2019[19]. - The company achieved operating revenue of 1,064.61 million yuan in 2020, representing a year-on-year growth of 5.88%[43]. - The net profit attributable to the parent company was 112.57 million yuan, an increase of 33.66% compared to the previous year[43]. Dividend Policy - The company plans to distribute a cash dividend of 4 RMB per 10 shares to all shareholders, based on a total share capital of 81,032,000 shares[4]. - The cash dividend represents 28.79% of the net profit attributable to ordinary shareholders, which was 112,565,993.15 yuan in 2020[109]. - The total distributable profit for the year was 486,115,270.32 yuan, with the cash dividend accounting for 100.00% of the profit distribution[110]. - The company has maintained a minimum cash dividend ratio of 80% during profit distribution due to its mature development stage[111]. - The company has a structured approach to cash dividend conditions, requiring positive distributable profits and sufficient cash flow[103]. Business Operations - The company maintained its main business focus on the research, production, and sales of home heating appliances and pest control products, with no significant changes in its product lines during the reporting period[28]. - The company operates a fully integrated business model encompassing research, procurement, production, and sales[28]. - The company has established a comprehensive supplier evaluation system to ensure quality and reliability in procurement[30]. - The company is focusing on the development of health and energy-saving products to optimize its product structure and enhance R&D capabilities[31]. - The company has developed proprietary technologies, including dual-layer spiral heating wire technology and long-lasting release technology for mosquito repellent products[37]. Market and Competition - The household flexible heating appliance industry is entering a mature phase, with strong market demand and intense competition among manufacturers[32]. - The company is a leading player in the electric blanket industry, continuously leading in technology innovation, production levels, and product sales[34]. - The company faces risks from market competition and will enhance product innovation to maintain its competitive edge[93]. - The company is exposed to risks from extreme warm winter weather affecting demand for heating products and will focus on product upgrades to mitigate this[94]. Research and Development - The company invested ¥25,045,591.84 in R&D, accounting for 2.35% of total revenue, a decrease from 2.57% in the previous year[64]. - The number of R&D personnel increased by 6.58% to 162, representing 5.13% of the total workforce[64]. - The company aims to enhance its R&D capabilities by developing smart electric blankets and expanding its product range to include outdoor mosquito repellents[88]. - The company will increase R&D investment and establish a mechanism for new product development, focusing on health-oriented and multifunctional heating products[90]. Corporate Governance and Compliance - The company has committed to fulfilling its public commitments as disclosed in the prospectus, with measures in place for any non-compliance[140]. - The company emphasizes the importance of transparency and accountability in its financial reporting practices[134]. - The company has established a management system for related party transactions to ensure compliance and transparency[138]. - The company will ensure compliance with legal requirements for the issuance of shares and will take necessary actions if any violations are identified[132]. Social Responsibility - The company actively participated in social responsibility initiatives, including donations of 300,000 RMB for COVID-19 relief efforts[168]. - The company has cumulatively donated over 20 million RMB to the "Rainbow Fund" established at the Chengdu Charity Federation[171]. - The company was recognized as an "Advanced Unit in the Ten Thousand Enterprises Helping Ten Thousand Villages Precision Poverty Alleviation Action" by Chengdu in 2020[171]. Shareholder Structure - The company had a total of 22,024 common shareholders at the end of the reporting period[186]. - The largest shareholder, Chengdu Rainbow Industrial Co., Ltd., holds 50.06% of the shares, totaling 40,561,879 shares[187]. - The company has a diverse shareholder structure, with significant stakes held by various investment funds and private entities[187]. - The company has not reported any changes in the equity situation of its controlling shareholder or associated companies during the reporting period[190]. Risk Management - The company emphasizes the importance of risk awareness regarding market competition, extreme weather conditions, and changes in tax policies that may affect performance[4]. - The company is at risk of rising raw material costs, which could impact production and profitability[96]. - The company has established stable supplier relationships and supply channels, implementing measures to track bulk raw material prices and analyze future price trends[97].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 287,780,542.42, representing a 51.38% increase compared to CNY 190,102,538.74 in the same period last year[7]. - Net profit attributable to shareholders was CNY 37,250,909.93, up 48.88% from CNY 25,021,042.52 year-on-year[7]. - The net profit after deducting non-recurring gains and losses reached CNY 36,931,618.56, marking a significant increase of 71.93% compared to CNY 21,481,068.86 in the previous year[7]. - Basic earnings per share rose to CNY 0.46, a 12.20% increase from CNY 0.41 in the previous year[7]. - Operating profit for Q1 2021 was ¥45,004,732.30, up 39.0% from ¥32,387,882.71 in the same period last year[38]. - Net profit for Q1 2021 was ¥38,661,590.15, representing a 43.9% increase compared to ¥26,810,718.81 in Q1 2020[38]. - The total comprehensive income for the period was CNY 32,143,869.58, an increase of 36.2% compared to CNY 23,610,208.88 in the previous period[42]. Cash Flow - The net cash flow from operating activities was CNY 177,674,174.22, an increase of 51.51% from CNY 117,270,983.99 in the same period last year[7]. - Cash received from sales and services amounted to ¥525,860,293.36, a 43.73% increase from ¥365,859,751.79 in the same period last year, indicating improved cash flow from operations[16]. - Cash inflows from operating activities amounted to CNY 532,176,147.57, up 43.3% from CNY 371,427,340.47 in the prior period[45]. - The ending cash and cash equivalents balance was CNY 984,940,822.59, up from CNY 373,068,925.29 at the end of the previous period[46]. - Cash outflows for purchasing goods and services were CNY 167,474,692.19, an increase of 24.3% from CNY 134,646,514.79[45]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,092,081,467.80, reflecting an 11.16% increase from CNY 1,881,968,471.31 at the end of the previous year[7]. - Total liabilities increased to ¥749,837,937.73 from ¥578,721,921.72, marking an increase of about 29.49%[30]. - The company's cash and cash equivalents rose to ¥1,013,334,207.82, compared to ¥863,183,796.99 at the end of 2020, an increase of approximately 17.36%[28]. - The total liabilities increased to ¥821,946,634.97 as of March 31, 2021, up from ¥637,347,201.11 at the end of 2020[36]. - The company reported a total current liability of CNY 577,070,736.45, including contract liabilities of CNY 249,245,595.90[53]. Shareholder Information - The company reported a total of 15,925 common shareholders at the end of the reporting period[10]. - The largest shareholder, Chengdu Rainbow Industrial Co., Ltd., holds 50.06% of the shares, totaling 40,561,879 shares[10]. - The net assets attributable to shareholders increased to CNY 1,295,075,608.37, up 2.98% from CNY 1,257,565,210.58 at the end of the last year[7]. Operational Highlights - The company's operating revenue for Q1 2021 reached ¥287,780,542.42, a 51.38% increase compared to ¥190,102,538.74 in the same period last year, primarily due to increased sales of household flexible heating appliances[15]. - Accounts receivable decreased by 36.49% to ¥101,424,428.98 from ¥159,694,673.69, mainly due to the collection of payments for household flexible heating appliances[14]. - The company reported a significant increase in contract liabilities, which rose by 67.06% to ¥416,396,660.61, attributed to advance payments received for household pest control products[14]. - The total amount of prepayments increased by 231.92% to ¥28,633,989.36, as the company ramped up material procurement in preparation for the peak production season of household pest control products[14]. - The company’s long-term investments increased to ¥293,624,477.53 from ¥233,624,477.53, reflecting a growth of approximately 25.67%[35]. Financial Management - The company's financial expenses showed a remarkable increase of 444.53%, resulting in a net income of -¥3,307,330.02, due to higher interest income from idle funds being converted into time deposits[15]. - The company reported a financial expense of -¥3,307,330.02 in Q1 2021, compared to -¥607,369.44 in the same period last year, showing improved financial management[37]. - The company has not engaged in any securities or derivative investments during the reporting period[18][19]. Research and Development - Research and development expenses for Q1 2021 were ¥6,455,897.89, up from ¥5,821,582.60 in the previous year, indicating a focus on innovation[37]. Audit Status - The company’s financial report for the first quarter was not audited[61].

Financial Performance - The company's operating revenue for 2020 was CNY 1,064,613,524.52, representing a 5.88% increase compared to CNY 1,005,534,170.91 in 2019 [19]. - The net profit attributable to shareholders for 2020 was CNY 112,565,993.15, a 33.66% increase from CNY 84,215,972.77 in 2019 [19]. - The net cash flow from operating activities surged to CNY 195,227,488.24, a significant increase of 876.67% compared to CNY 19,989,101.68 in 2019 [19]. - The total assets at the end of 2020 reached CNY 1,881,968,471.31, marking a 44.16% increase from CNY 1,305,495,142.90 at the end of 2019 [19]. - The net assets attributable to shareholders increased by 67.04% to CNY 1,257,565,210.58 at the end of 2020, up from CNY 752,843,988.34 in 2019 [19]. - The company reported a basic earnings per share of CNY 1.85 for 2020, which is a 33.09% increase from CNY 1.39 in 2019 [19]. - The company achieved operating revenue of 1,064.61 million yuan in 2020, representing a year-on-year growth of 5.88% [42]. - The net profit attributable to the parent company was 112.57 million yuan, an increase of 33.66% compared to the previous year [43]. Dividend Policy - The company plans to distribute a cash dividend of 4 RMB per 10 shares to all shareholders, based on a total share capital of 81,032,000 shares [4]. - The cash dividend amount in 2019 was CNY 24,292,800, which was 28.85% of the net profit attributable to ordinary shareholders [110]. - In 2018, the cash dividend amount was CNY 30,366,000, representing 21.81% of the net profit attributable to ordinary shareholders [110]. - The company aims for a minimum cash dividend distribution of 30% of the average distributable profit over the last three years [105]. - The company has a structured decision-making process for profit distribution, requiring board approval and shareholder voting [106]. - The company has a stable and sustainable profit distribution policy, prioritizing cash dividends while ensuring long-term development and investor returns [102]. Market Position and Strategy - The company has a focus on developing new products and technologies to enhance its market position, although specific figures are not provided in the report [4]. - The company maintained its focus on the development and sales of home heating products and pest control products, with no significant changes in its main business operations during the reporting period [28]. - The company is a leading player in the electric blanket industry, continuously leading in technology innovation, production levels, and product sales [34]. - The household flexible heating appliance industry is entering a mature phase, with strong market demand and intense competition among manufacturers [32]. - The company actively participates in drafting industry standards, promoting healthy development within the household appliance sector [34]. - The company has established a comprehensive supplier evaluation system to ensure quality and reliability in procurement [30]. - The company focuses on health and environmental protection in product development, aligning with consumer trends towards high-quality, energy-efficient heating appliances [31]. Risks and Challenges - The company emphasizes the importance of risk awareness regarding market competition, extreme weather conditions, and potential changes in tax policies that could impact performance [4]. - The company faces risks from market competition and plans to enhance product innovation and technology to maintain competitiveness [94]. - The company is exposed to risks from extreme warm winter weather affecting sales of heating products, which are primarily used in winter and spring [94]. - The company is at risk of rising raw material costs, which could affect production and profitability [97]. - The company relies on a distribution model where over 80% of sales come from distributors, which poses risks related to control over distributor behavior [95]. Corporate Governance and Compliance - The company has committed to maintaining a cash dividend ratio of at least 80% during mature stages without significant capital expenditures [103]. - The company has not engaged in any investor communication activities during the reporting period [99]. - The company has established a clear compensation responsibility for shareholders who fail to adhere to the lock-up commitments, ensuring accountability [119]. - The company has committed to ensuring that any false statements or omissions in the IPO prospectus will lead to compensation for investors who suffer losses [132]. - The company has pledged to handle any future business interests that may compete with the issuer's existing business in a timely and effective manner, including potential asset transfers [138]. Social Responsibility - The company actively participated in social responsibility initiatives, including the "Charity One Day Donation" event, raising 258,000 RMB [172]. - The company donated a total of 705,000 RMB in various forms throughout the year, including 300,000 RMB for COVID-19 relief efforts and 100,000 RMB for flood relief [172][173]. - The company has committed to continuing its poverty alleviation plans, focusing on rural revitalization and precise assistance strategies [175]. - The company received the title of "Advanced Unit in the Action of Helping Thousands of Villages with Thousands of Enterprises" in Chengdu for its poverty alleviation efforts in 2020 [175]. Research and Development - The company has developed core technologies in its product lines, including dual-layer spiral heating wire technology and long-lasting release technology for mosquito repellent products [37]. - The company aims to enhance its R&D capabilities by developing smart electric blankets and expanding the product range to include outdoor mosquito repellents [88]. - Research and development expenses amounted to ¥25,045,591.84, accounting for 2.35% of total revenue, a decrease from 2.57% in the previous year [64]. - The number of R&D personnel increased by 6.58% to 162, representing 5.13% of the total workforce [63].

Financial Performance - The company's operating revenue for Q1 2021 was ¥287,780,542.42, representing a 51.38% increase compared to ¥190,102,538.74 in the same period last year[7]. - The net profit attributable to shareholders was ¥37,250,909.93, up 48.88% from ¥25,021,042.52 year-on-year[7]. - The net profit after deducting non-recurring gains and losses reached ¥36,931,618.56, marking a significant increase of 71.93% compared to ¥21,481,068.86 in the previous year[7]. - Basic earnings per share rose to ¥0.46, reflecting a 12.20% increase from ¥0.41 in the previous year[7]. - The company reported a net profit attributable to shareholders of ¥37,250,909.93, marking a 48.88% increase from ¥25,021,042.52 in the previous year[15]. - Net profit for Q1 2021 was CNY 38,661,590.15, representing a 44.3% increase compared to CNY 26,810,718.81 in Q1 2020[39]. - The total comprehensive income for the first quarter was CNY 32,143,869.58, an increase of 36.2% compared to CNY 23,610,208.88 in the previous period[44]. Cash Flow - The net cash flow from operating activities was ¥177,674,174.22, which is a 51.51% increase from ¥117,270,983.99 in the same quarter last year[7]. - Cash received from sales and services increased by 43.73% to ¥525,860,293.36, driven by higher sales and prepayments[16]. - Cash inflow from operating activities amounted to CNY 532,176,147.57, up 43.3% from CNY 371,427,340.47 in the prior period[47]. - The net cash flow from operating activities was CNY 177,674,174.22, representing a 51.5% increase from CNY 117,270,983.99 in the same period last year[47]. - Cash and cash equivalents at the end of the period reached CNY 984,940,822.59, compared to CNY 373,068,925.29 at the end of the previous period, marking a 164.5% increase[48]. - The company reported cash outflows from investing activities of CNY 15,185,035.63, which is an increase from CNY 12,761,280.23 in the previous period[47]. - The company’s net cash flow from financing activities was -CNY 17,399,098.60, a decline from a positive CNY 4,791,066.67 in the same period last year[48]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,092,081,467.80, an increase of 11.16% from ¥1,881,968,471.31 at the end of the previous year[7]. - Current assets totaled CNY 1,698,347,429.85, up from CNY 1,493,255,891.64, indicating a rise of about 13.8%[28]. - Total liabilities amounted to CNY 749,837,937.73, compared to CNY 578,721,921.72, showing an increase of approximately 29.5%[30]. - Total liabilities as of March 31, 2021, amounted to CNY 821,946,634.97, an increase from CNY 637,347,201.11 at the end of 2020[36]. - The company’s total assets as of March 31, 2021, were CNY 1,971,614,419.85, up from CNY 1,754,729,324.82 at the end of 2020[36]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 15,925[10]. - The largest shareholder, Chengdu Rainbow Industrial Co., Ltd., holds 50.06% of the shares, totaling 40,561,879 shares[10]. Operational Highlights - The company's revenue for Q1 2021 reached ¥287,780,542.42, a 51.38% increase compared to ¥190,102,538.74 in the same period last year, primarily due to increased sales of household flexible heating appliances[15]. - The gross profit margin improved, with operating costs rising to ¥149,383,710.05, reflecting a 48.69% increase, which is in line with the revenue growth[15]. - Accounts receivable decreased by 36.49% to ¥101,424,428.98, attributed to the collection of payments for household flexible heating appliances[14]. - The company’s contract liabilities rose by 67.06% to ¥416,396,660.61, reflecting prepayments received for household pest control products[14]. Investment and Funding - The total amount of funds raised from the public offering was ¥484,967,000, with a net amount of ¥416,060,000 after deducting issuance costs[20]. - The company has utilized ¥83,380.00 of the raised funds as of March 31, 2021, with a remaining balance of ¥419,124.30[20]. - The company is focusing on expanding its non-current assets, which totaled CNY 393,734,037.95, up from CNY 388,712,579.67, a growth of approximately 1.3%[29]. - The company has invested in ongoing projects, with construction in progress amounting to CNY 24,930,393.10, an increase from CNY 20,414,366.56, representing a growth of about 22.5%[29]. Financial Standards and Changes - The company adopted the new leasing standard effective January 1, 2021, impacting the measurement of lease liabilities and right-of-use assets[56].