Financial Performance - The company's operating revenue for 2017 was ¥688,800,571.33, a decrease of 9.61% compared to ¥762,039,939.88 in 2016[20]. - The net profit attributable to shareholders was -¥27,953,728.90, representing a decline of 141.15% from ¥67,923,101.80 in the previous year[20]. - The net cash flow from operating activities was ¥10,731,776.01, down 92.68% from ¥146,550,634.30 in 2016[20]. - The total assets at the end of 2017 were ¥1,022,750,648.90, a decrease of 16.85% from ¥1,230,000,954.23 at the end of 2016[20]. - The net assets attributable to shareholders decreased by 6.89% to ¥687,821,302.20 from ¥738,742,597.15 in 2016[20]. - The basic earnings per share for 2017 was -¥0.0590, a decline of 142.14% compared to ¥0.140 in 2016[20]. - The weighted average return on net assets was -3.93%, down from 9.57% in the previous year[20]. - The total profit for the year was -9.01 million yuan, a decline of 110.92% compared to the previous year[47]. - The company faced a significant increase in financial expenses, up 1009.71% due to exchange rate fluctuations[47]. Revenue Breakdown - Revenue from sunshade fabric manufacturing was ¥305,382,419.22, accounting for 44.34% of total revenue, with a year-on-year increase of 0.92%[60]. - Revenue from sunshade finished products was ¥383,418,152.11, representing 55.66% of total revenue, showing a decline of 8.35%[60]. - Revenue from mainland China was ¥94,018,419.59, down 29.46% from ¥133,281,713.93 in 2016, accounting for 13.65% of total revenue[60]. - Revenue from regions outside mainland China was ¥594,782,151.74, a decrease of 5.4% compared to ¥628,758,225.95 in 2016, making up 86.35% of total revenue[60]. Cash Flow and Investments - The net cash flow from operating activities decreased by 92.68% compared to the previous year, primarily due to a reduction in cash received from sales of goods and services[70]. - Cash inflow from investment activities increased by 7,721.82% year-on-year, mainly due to the receipt of equity transfer payments from Shanghai Yangche Wuyou E-commerce Co., Ltd.[71]. - Cash outflow from investment activities rose by 68.15% compared to last year, primarily due to the exclusion of Shanghai Gaisi Automobile from the consolidation scope[71]. - Cash inflow from financing activities increased by 79.36% year-on-year, mainly due to bank loans taken in 2017[72]. - Cash outflow from financing activities increased by 134.89% compared to the previous year, primarily due to the repayment of bank loans in 2017[73]. Research and Development - R&D investment for 2017 was ¥15,187,914.62, representing 2.20% of total revenue, an increase from 1.48% in 2016[68]. - The number of R&D personnel was 30, accounting for 16.30% of total employees, a decrease from 17.98% in 2016[68]. - The company will continue to invest in R&D for basic materials, innovative product design, and control systems, with an expected increase in patent applications[91]. Market Position and Strategy - The company has developed three unique high-performance polymer composite shading materials, breaking the monopoly of foreign companies in this field[30]. - The company has a strong market position in the manufacturing of polymer composite shading materials, which are widely used in energy-saving applications[30]. - The company is focusing on expanding its international market presence by enhancing brand influence and local product adaptation[49]. - The company plans to enhance its market presence in emerging markets such as Africa and South America, focusing on product adaptability and local partnerships[88]. Dividend Policy - The company has a profit distribution policy that emphasizes reasonable returns to investors, with a minimum cash distribution of 30% of the average annual distributable profit over the last three years[104]. - The cash dividend for the current period is CNY 0.00, resulting in a cash dividend payout ratio of 0.00%[114]. - The board proposed not to distribute any cash dividends for the 2017 fiscal year, citing future development needs[115]. - The independent directors confirmed that the decision not to distribute dividends in 2017 was in line with the company's long-term development strategy[115]. Corporate Governance - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management team, complying with relevant regulations and guidelines[187]. - The board of directors consists of 5 members, including 2 independent directors, meeting legal and regulatory requirements[191]. - The company emphasizes information disclosure, ensuring accurate and timely communication with investors, with the chairman as the primary responsible person for disclosure[193]. - The company maintains independence from its controlling shareholder in business, personnel, assets, institutions, and finances, ensuring autonomous operational capabilities[197]. Employee and Management Structure - The total number of employees in the company is 1,115, with 184 in the parent company and 931 in major subsidiaries[181]. - The total pre-tax remuneration for directors, supervisors, and senior management in 2017 was 201.34 million yuan[180]. - The company emphasizes employee training and has tailored training plans for different positions[184]. - The company has a total of 7 independent directors and supervisors, ensuring diverse governance[179].

Financial Performance - Total revenue for the reporting period was ¥357,605,250.13, a decrease of 5.43% compared to the same period last year [16]. - Net profit attributable to shareholders was ¥2,551,438.10, down 92.14% year-on-year [16]. - Net profit after deducting non-recurring gains and losses was -¥206,339.82, a decline of 100.93% compared to the previous year [16]. - Net cash flow from operating activities was ¥19,973,573.36, a decrease of 70.52% from the same period last year [16]. - Basic earnings per share were ¥0.0054, down 92.12% year-on-year [16]. - The company's operating revenue for the reporting period was ¥357,605,250.13, a decrease of 5.43% compared to the same period last year [45]. - The company's financial expenses surged by 415.81% to ¥11,725,411.51, mainly due to foreign exchange losses in the current period [45]. - The gross profit margin for shading fabrics was 33.50%, a decrease of 2.60% compared to the previous year [47]. - Operating profit turned negative at -¥4,386,775.44 compared to a profit of ¥27,396,696.69 in the previous period [119]. - Net profit decreased significantly to ¥1,019,245.60 from ¥33,327,365.15, reflecting a decline of approximately 96.9% year-over-year [119]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,139,503,937.40, a decrease of 7.36% from the end of the previous year [16]. - Net assets attributable to shareholders were ¥720,284,555.73, down 2.50% compared to the end of the previous year [16]. - Cash and cash equivalents at the end of the period decreased by 39.18% compared to the beginning of the year, primarily due to repayment of bank loans [29]. - The total assets at the end of the reporting period amounted to ¥1,139,000,000, with fixed assets accounting for 38.25% of total assets, an increase from 28.40% in the previous year [48]. - Total liabilities decreased from CNY 473,336,898.07 to CNY 406,356,644.44, a reduction of about 14.1% [114]. - Total equity decreased from CNY 756,664,056.16 to CNY 733,147,292.96, a decline of about 3.1% [114]. Market and Operations - The company established a new factory in Eastern Australia to enhance product supply and after-sales support capabilities, addressing market supply shortages in certain regions [5]. - The company plans to optimize its pricing system to enhance competitiveness in the mid-to-low-end market, although there is a risk of declining gross margins due to price reductions [5]. - The company will continue to open new stores in Australia, leading to a high demand for skilled sales personnel, which may not be met on time [6]. - The company has made technical reserves and capacity preparations for external shading products and integrated energy-saving windows, but there is a risk of underutilization due to slow policy advancement [7]. - The company has developed three unique high-performance polymer composite shading materials, breaking the monopoly of foreign companies in this field [23]. - The company operates a subsidiary in Australia, KRS, which is a leading manufacturer and seller of window coverings in the region [24]. - KRS has established a strong market position in Australia and New Zealand with multiple brands and a comprehensive retail network [25]. Shareholder and Equity Information - The company has not distributed cash dividends or bonus shares, indicating a focus on reinvestment rather than shareholder returns [8]. - The total number of shareholders at the end of the reporting period was 28,791 [96]. - The largest shareholder, Lu Xianfeng, holds 36.49% of the shares, totaling 172,957,978 shares [96]. - The second-largest shareholder, Xu Peifei, holds 2.75% of the shares, totaling 13,050,000 shares [96]. - The company has not undergone any changes in its controlling shareholder during the reporting period [98]. - The actual controller of the company has remained unchanged during the reporting period [99]. Research and Development - Research and development investment increased by 24.45% to ¥7,343,367.70 compared to the previous year [45]. - New product innovations include aluminum-coated fabrics with enhanced thermal reflection and halogen-free flame-retardant fabrics that meet higher environmental standards [37]. - The company is focusing on enhancing its brand influence through international exhibitions and local market adaptation strategies [40]. - The company is focusing on the development of new products and technologies to drive future growth [61]. Financial Guarantees and Risks - The company provided a guarantee of up to RMB 665 million for Ningbo Kaixin Investment Co., Ltd. related to the acquisition of Australian VDL assets [80]. - The guarantee fee for the aforementioned transaction is set at 1% per year, with a current fee of RMB 2,829,166.67 [80]. - The total amount of external guarantees approved by the company at the end of the reporting period is 130,830.16 million CNY, with an actual guarantee balance of 73,824.08 million CNY [86]. - The actual guarantee amount provided by the company to shareholders and related parties is 50,000 million CNY, which constitutes 102.49% of the company's net assets [86]. - The company has no violations regarding external guarantees during the reporting period [87]. Compliance and Governance - The half-year financial report was not audited [70]. - The company has not experienced any bankruptcy restructuring matters during the reporting period [71]. - There were no penalties or rectification situations reported during the period [73]. - The company has committed to compensating for any losses incurred due to violations of commitments by its actual controller [69]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period [78].

Financial Performance - Total revenue for Q1 2017 was ¥180,129,139.88, a decrease of 0.89% compared to ¥181,746,910.02 in the same period last year[8] - Net profit attributable to shareholders was -¥1,078,080.30, representing a decline of 133.15% from ¥3,252,298.92 year-on-year[8] - Basic and diluted earnings per share were both -¥0.0023, down 133.33% from ¥0.0069 in the same period last year[8] - The total profit for the period was -5.0086 million yuan, representing a decline of 256.85% year-on-year[23] - The net profit attributable to shareholders was -1.0781 million yuan, down 133.15% from the previous year[23] - Operating profit for the current period is -¥5,672,587.68, compared to an operating profit of ¥2,922,523.78 in the previous period[42] - Net profit for the current period is -¥3,915,754.38, down from a net profit of ¥3,105,076.39 in the previous period[42] - Earnings per share (basic and diluted) for the current period is -¥0.0023, compared to ¥0.0069 in the previous period[43] Cash Flow - Net cash flow from operating activities was -¥22,574,320.83, a significant decrease of 170.32% compared to ¥32,104,375.72 in the previous year[8] - Cash flow from operating activities is ¥145,936,040.41, a decrease from ¥194,049,760.23 in the previous period[49] - The net cash flow from operating activities was -22,574,320.83 CNY, a decrease compared to 32,104,375.72 CNY in the previous period, indicating a significant decline in operational performance[50] - Total cash inflow from operating activities was 151,919,295.94 CNY, while cash outflow was 174,493,616.77 CNY, resulting in a net cash outflow of 22,574,320.83 CNY[50] - The company reported a total cash inflow from operating activities of 69,313,103.08 CNY, while cash outflow was 53,870,794.19 CNY, resulting in a net cash flow of 15,442,308.89 CNY[54] - The cash flow from investment activities showed a net outflow of 683,818.02 CNY, compared to a larger outflow of 10,984,407.09 CNY in the previous period[51] - Cash flow from financing activities resulted in a net outflow of 5,360,534.17 CNY, a decrease from 14,536,278.83 CNY in the previous period[51] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,210,069,155.67, a decrease of 1.62% from ¥1,230,000,954.23 at the end of the previous year[8] - Total current assets increased to CNY 532,221,003.59 from CNY 487,515,937.61, representing an increase of approximately 9.5%[33] - Total non-current assets decreased to CNY 677,848,152.08 from CNY 742,485,016.62, a decline of about 8.7%[34] - Total liabilities decreased to CNY 452,822,006.98 from CNY 473,336,898.07, reflecting a reduction of approximately 4.3%[35] - The total equity attributable to shareholders increased to CNY 741,459,294.22 from CNY 738,742,597.15, a slight increase of about 0.2%[36] - Cash and cash equivalents decreased to CNY 157,972,424.92 from CNY 184,851,858.66, a decline of approximately 14.5%[33] - Inventory decreased to CNY 175,417,056.16 from CNY 181,161,639.30, a decrease of about 3.1%[33] Market and Operational Risks - The company faces market risks due to supply shortages in certain regions despite increased production capacity in Australia[10] - Human resource risks include challenges in recruiting skilled sales personnel for new stores and a shortage of high-quality management talent[11] - The company has made preparations for technology and capacity in the energy-saving shading industry, but faces risks related to policy changes and slow market development[12] - The company plans to strengthen market research and improve resource allocation to mitigate market risks[25] Shareholder Information - The top shareholder, Lu Xianfeng, holds 36.49% of the shares, with a total of 172,957,978 shares, of which 129,718,483 are pledged[14] Dividends - The company will distribute a cash dividend of 0.50 yuan per share based on the total share capital of 474 million shares[27] Other Financial Metrics - Other receivables increased by 816.43% to 63.66 million yuan due to unreceived payments from equity transfers[21] - Financial expenses decreased by 76.01% to 674,768.67 yuan, primarily due to exchange rate fluctuations[21] - Asset impairment losses rose by 297.64% to 4.03 million yuan, attributed to bad debt provisions for unreceived equity transfer payments[21] - Cash received from tax refunds increased by 167.43% to 5.34 million yuan, driven by higher export tax rebates[22] - The company reported an asset impairment loss of ¥4,029,417.49, compared to ¥1,013,325.74 in the previous period[42] - Sales expenses increased to ¥59,763,089.59 from ¥55,026,187.69 in the previous period[42] - Other comprehensive income after tax for the current period is ¥4,498,846.91, slightly down from ¥4,560,527.21 in the previous period[42] Audit Information - The company’s cash flow statement for the first quarter was not audited[56]

Financial Performance - The company's operating revenue for 2016 was CNY 762,039,939.88, representing a 2.50% increase compared to CNY 743,446,727.69 in 2015[18]. - The net profit attributable to shareholders for 2016 was CNY 67,923,101.80, a significant increase of 113.92% from CNY 31,751,857.98 in 2015[18]. - The net profit after deducting non-recurring gains and losses was CNY 47,331,870.13, up 79.71% from CNY 26,337,617.75 in 2015[18]. - The net cash flow from operating activities reached CNY 146,550,634.30, a remarkable increase of 232.59% compared to CNY 44,064,104.82 in 2015[18]. - The total assets at the end of 2016 were CNY 1,230,000,954.23, reflecting a 6.03% increase from CNY 1,160,026,231.44 at the end of 2015[18]. - The net assets attributable to shareholders increased by 8.93% to CNY 738,742,597.15 from CNY 678,211,709.89 in 2015[18]. - The basic earnings per share for 2016 were CNY 0.14, doubling from CNY 0.07 in 2015[18]. - The diluted earnings per share also stood at CNY 0.14, consistent with the basic earnings per share[18]. - The weighted average return on equity was 9.57%, an increase from 4.72% in 2015[18]. - The total profit reached 82.54 million yuan, showing a significant increase of 152.57% compared to the previous year[38]. - The net profit attributable to the parent company was 67.92 million yuan, reflecting a year-on-year growth of 113.92%[38]. Revenue Breakdown - The company's total revenue for Q1, Q2, Q3, and Q4 were approximately 181.75 million, 196.39 million, 185.07 million, and 198.83 million respectively, showing a steady performance throughout the year[20]. - Revenue from the shading fabric manufacturing sector increased by 10.19% to ¥302,607,634.91, while revenue from finished shading products decreased by 10.01% to ¥418,335,367.47[48]. - The automotive parts information service revenue surged by 941.35% to ¥41,096,937.50, up from ¥3,946,490.05 in 2015[48]. - Revenue from mainland China reached ¥133,281,713.93, a 36.72% increase compared to ¥97,482,356.07 in 2015[49]. Cash Flow and Assets - The company's cash and cash equivalents increased by 88.87% year-on-year, primarily due to an increase in operating cash flow[30]. - The fixed assets balance rose by 21.83% year-on-year, mainly due to the completion of new factory construction[30]. - The company's cash outflow from investment activities decreased by 83.63% to ¥32,031,495.99, reflecting reduced cash payments for fixed asset purchases[60]. - The total investment amount for the reporting period was ¥17,740,000.00, a decrease of 89.56% compared to the previous year[66]. - The total owner's equity reached CNY 756,664,056.16, up from CNY 691,992,469.44, which is an increase of approximately 9.34%[197]. - The company's cash balance increased to approximately ¥184.85 million as of December 31, 2016, an increase from ¥97.87 million at the beginning of the year[194]. Research and Development - Research and development investment increased, focusing on new materials, production process improvements, and design innovations, with a total of 32 R&D personnel[57]. - R&D investment amounted to ¥12,035,491.87, representing 2.69% of operating revenue[59]. - The company plans to increase its R&D investment in innovative product design and control systems, with a focus on patent protection and international patent applications[76]. Market Strategy and Expansion - The company plans to optimize its product pricing system to enhance competitiveness in the mid-to-low-end market amid increasing competition[5]. - The company aims to expand its market presence in emerging markets such as Africa and South America, focusing on product adaptability and local partnerships[75]. - The company plans to expand its market presence by leveraging the brand influence of the acquired Australian KRS company[39]. - The company’s automotive aftermarket business aims to integrate global automotive product resources, facilitating export opportunities for Chinese suppliers[29]. Dividend Policy - The company proposed a cash dividend of RMB 0.50 per 10 shares, totaling RMB 23.7 million, based on a total share capital of 474 million shares[90]. - The cash dividend represents 100% of the total profit distribution amount, with a distributable profit of RMB 161.26 million[90]. - The company adheres to a profit distribution policy that mandates a minimum cash dividend proportion of 20% when in a growth phase with significant capital expenditures[90]. - The company has maintained a cash dividend payout ratio exceeding 30% of the average distributable profit over the last three years, ensuring compliance with the Company Law and protecting the interests of minority shareholders[91]. Corporate Governance - The company has established a complete decision-making process and mechanism for dividend distribution, ensuring transparency and compliance with regulations[91]. - The governance structure includes a board of directors with 5 members, 2 of whom are independent directors, complying with legal requirements[162]. - The company has established specialized committees under the board, including strategy, remuneration and assessment, audit, and nomination committees[162]. - The company emphasizes strict compliance with information disclosure regulations, ensuring accurate and timely communication with investors[164]. Employee and Management Structure - The company employed a total of 1,440 staff, with 646 in production, 467 in sales, 129 in technical roles, 34 in finance, and 164 in administration[153][154]. - The total pre-tax remuneration for the board of directors and senior management amounted to CNY 240.81 million in 2016[152]. - The remuneration policy for directors and senior management is based on company size and economic performance, considering position, responsibility, and market salary trends[155]. - The company has a strong focus on R&D, with key personnel in technology development roles, indicating a commitment to innovation[148]. Internal Control and Compliance - The internal control audit report confirmed that the company maintained effective internal controls related to financial reporting as of December 31, 2016[183]. - The company received a standard unqualified audit opinion from the auditing firm, indicating compliance with accounting standards[188]. - The company has not faced any regulatory penalties in the past three years, indicating compliance with financial regulations[149].

Financial Performance - The company's operating revenue for 2016 was CNY 762,039,939.88, representing a 2.50% increase from CNY 743,446,727.69 in 2015[18]. - The net profit attributable to shareholders for 2016 was CNY 67,923,101.80, a significant increase of 113.92% compared to CNY 31,751,857.98 in 2015[18]. - The net profit after deducting non-recurring gains and losses was CNY 47,331,870.13, up 79.71% from CNY 26,337,617.75 in the previous year[18]. - The net cash flow from operating activities reached CNY 146,550,634.30, marking a 232.59% increase from CNY 44,064,104.82 in 2015[18]. - The total assets at the end of 2016 amounted to CNY 1,230,000,954.23, reflecting a 6.03% increase from CNY 1,160,026,231.44 at the end of 2015[18]. - The net assets attributable to shareholders increased by 8.93% to CNY 738,742,597.15 from CNY 678,211,709.89 in 2015[18]. - The basic earnings per share for 2016 was CNY 0.14, doubling from CNY 0.07 in 2015[18]. - The weighted average return on equity for 2016 was 9.57%, up from 4.72% in 2015[18]. - The total profit reached 82.54 million yuan, showing a significant increase of 152.57% compared to the previous year[38]. - The company's cash and cash equivalents increased by 88.87% year-on-year, primarily due to an increase in operating cash flow[30]. Revenue Breakdown - The company's total revenue for Q1, Q2, Q3, and Q4 was approximately 181.75 million, 196.39 million, 185.07 million, and 198.83 million respectively, showing a steady performance throughout the year[20]. - The revenue from the shading fabric manufacturing segment was ¥302,607,634.91, accounting for 39.71% of total revenue, with a year-on-year increase of 10.19%[48]. - The revenue from finished shading products decreased by 10.01% to ¥418,335,367.47, which constituted 54.90% of total revenue[48]. - The automotive parts information service segment saw a significant increase of 941.35%, reaching ¥41,096,937.50, making up 5.39% of total revenue[48]. - Revenue from mainland China was ¥133,281,713.93, a 36.72% increase compared to the previous year, while revenue from outside mainland China decreased by 2.66% to ¥628,758,225.95[49]. Market Position and Strategy - The company has developed three unique high polymer composite shading materials that are leading in the world, breaking the monopoly of foreign enterprises in this field[26]. - The company has a strong market position in the high polymer composite shading materials manufacturing industry in China, ensuring continuous growth potential[26]. - The Australian subsidiary KRS is a leading manufacturer and seller of curtains in Australia, enhancing the company's market presence in the region[27]. - KRS operates multiple factories and has established a strong retail network across Australia and New Zealand, contributing to sales growth[27]. - The company plans to optimize its product pricing system to enhance competitiveness in the mid-to-low-end market amid increasing competition[5]. - The company anticipates significant growth in the building shading industry due to increasing energy-saving standards and government regulations[72]. - The domestic shading fabric market is expected to face intense competition in 2017, prompting the company to enhance product R&D and market investment[75]. - The company plans to expand its international market presence, particularly in emerging markets like Africa and South America[75]. Research and Development - Research and development investment increased, focusing on new materials, production process improvements, and design innovations, with a total of 32 R&D personnel in 2016[57]. - R&D investment amounted to ¥12,035,491.87, representing 2.69% of operating revenue[59]. - The company launched several innovative products, including aluminum-coated fabrics and halogen-free flame-retardant fabrics, enhancing its product portfolio[35]. - The company aims to increase its patent authorization in the field of external shading products, enhancing its intellectual property portfolio[76]. Cash Dividend Policy - The company proposed a cash dividend of RMB 0.50 per 10 shares, totaling RMB 23.7 million, based on a total share capital of 474 million shares[90]. - The cash dividend accounted for 100% of the total profit distribution, with a distributable profit of RMB 161.26 million[90]. - The company adheres to a profit distribution policy that mandates a minimum cash dividend proportion of 20% when in a growth phase with significant capital expenditures[90]. - The profit distribution policy emphasizes stable and reasonable returns to investors, with a focus on maintaining continuity[84]. - The company has maintained a cash dividend payout ratio exceeding 30% of the average distributable profit over the last three years, ensuring compliance with the Company Law and protecting the interests of minority shareholders[91]. Corporate Governance - The company has a governance structure that includes a board of directors, supervisory board, and various specialized committees to ensure compliance with regulations[159]. - The board consists of 5 members, including 2 independent directors, meeting legal and regulatory requirements[162]. - The supervisory board has 3 members, including 1 employee supervisor, ensuring oversight of major company matters and compliance[163]. - The company emphasizes strict compliance with information disclosure regulations, ensuring accurate and timely communication with investors[164]. - The company has established a comprehensive evaluation and incentive mechanism for senior management, enhancing management efficiency and governance structure[179]. Employee and Management Information - Total remuneration for directors and senior management in 2016 amounted to 2.41 million CNY, with the highest being 869,500 CNY for the Chairman and General Manager[152]. - The company employed a total of 1,440 staff, including 646 production personnel and 467 sales personnel[153]. - The educational background of employees shows that 1,010 have education below college level, while only 14 hold degrees above bachelor's level[154]. - The company has established a fair but differentiated salary policy to motivate employees while controlling overall labor costs[155]. - Training programs are tailored to different positions, focusing on effectiveness and employee feedback for continuous improvement[156]. Legal and Compliance Matters - The company has not experienced any major litigation or arbitration matters during the reporting period[101]. - There were no significant penalties or rectification situations reported during the period[102]. - The company has not faced any regulatory penalties from securities authorities in the past three years[150]. - The company has not engaged in any related party transactions during the reporting period[104]. Internal Control and Audit - The internal control audit report was consistent with the board's self-evaluation report[183]. - The audit opinion issued was a standard unqualified opinion, confirming the fair presentation of the financial statements[188]. - The company maintained effective internal controls related to financial reporting as of December 31, 2016[183].

Financial Performance - Net profit attributable to shareholders rose by 59.98% to CNY 13,505,315.36 for the reporting period[6] - Operating revenue for the period reached CNY 185,073,381.36, reflecting a growth of 7.53% year-on-year[6] - Basic earnings per share increased by 60.11% to CNY 0.0285[6] - The company achieved operating revenue of RMB 563.21 million for the first nine months of 2016, an increase of 8.68% compared to the same period last year[22] - The net profit attributable to the parent company was RMB 45.98 million for the same period, reflecting a positive performance[22] - The company's revenue for the third quarter increased by 209.63% compared to the same period last year, primarily driven by growth in domestic division revenue and reduced losses in the Australian division[23] - The net profit growth was also supported by the consolidation of GaiShi Automotive Network and the receipt of performance compensation from GaiShi Automotive Network for 2015[23] - The net profit for the third quarter was CNY 13,921,940.23, compared to CNY 7,736,267.73 in the same period last year, reflecting a significant growth[46] - The total profit for the third quarter amounted to CNY 15,796,240.77, up from CNY 8,259,637.24 in the previous year[46] - The basic and diluted earnings per share for the third quarter were both CNY 0.0285, an increase from CNY 0.0178 in the same period last year[47] - The company's total comprehensive income for the third quarter was CNY 16,232,743.15, compared to CNY 3,116,819.68 in the previous year[47] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of CNY 93,235,244.90, up 143.75% year-to-date[6] - Cash and cash equivalents increased by RMB 60.99 million, a rise of 62.32% from the beginning of the year, primarily due to improved operating cash flow[19] - Operating cash flow net increased by RMB 54.99 million, up 143.75% year-on-year, driven by higher cash receipts from sales[21] - The company's cash and cash equivalents rose significantly from CNY 38,556,143.70 to CNY 87,035,130.60, an increase of 126.5%[41] - The company's cash inflow from operating activities totaled CNY 601,667,792.68 in Q3 2016, compared to CNY 551,618,953.04 in the previous year, reflecting improved cash generation[60] - The total cash inflow from financing activities is CNY 91,665,562.40, compared to CNY 63,593,285.40 in the previous period, representing an increase of about 44%[61] - The cash and cash equivalents at the end of the period amount to CNY 72,588,730.60, up from CNY 51,458,851.34 in the previous period, marking an increase of approximately 41%[64] Assets and Liabilities - Total assets increased by 5.23% to CNY 1,220,654,979.88 compared to the end of the previous year[6] - The total current assets amounted to ¥483.72 million, up from ¥421.47 million, which is an increase of around 15%[37] - Current liabilities increased to CNY 286,693,790.55 from CNY 267,921,315.49, representing a rise of 7.5%[39] - The company's fixed assets decreased from CNY 347,656,187.30 to CNY 325,853,677.83, a decline of approximately 6.3%[38] - Non-current assets totaled CNY 736,937,637.28, slightly down from CNY 738,553,097.53, indicating a decrease of about 0.2%[38] - Accounts receivable rose to ¥110.38 million from ¥89.49 million, indicating an increase of about 23%[37] - Inventory decreased to ¥188.94 million from ¥208.20 million, reflecting a decline of approximately 9%[37] Financial Management and Risks - The company faces market supply shortages in certain regions despite increased production capacity in Australia[9] - There is a risk of inventory impairment due to increased stock levels and potential quality issues over time[10] - The company has a funding gap for its "3 million square meters integrated energy-saving window" project, which may be affected by changes in national credit policies[11] - The company is preparing for potential policy changes that could impact production capacity and product success in the energy-saving industry[12] - The company is enhancing its market research system and improving resource allocation and response capabilities to mitigate risks related to production resource shortages or excess[23] - Measures are being taken to address human resource risks, including the acceleration of the human resource management system and employee incentive plan development[23] - Financial risk management includes tracking refinancing policies and credit policy trends to minimize financing costs[23] - The company is committed to strengthening its market research system to mitigate policy risks, which ultimately relate to market risks[24] Shareholder and Dividend Information - The company distributed a cash dividend of ¥1,185 million to shareholders, amounting to ¥0.25 per share based on a total share capital of 47.4 million shares[31] - The company has committed to not transferring shares held by major shareholders for a year, ensuring stability in shareholding[28] - The company has a clear and transparent cash dividend policy that complies with its articles of association and shareholder resolutions[32] - The company has no significant non-operating fund occupation by controlling shareholders or related parties during the reporting period[34] - There were no violations regarding external guarantees during the reporting period[33] Other Financial Metrics - The company's financial expenses decreased by RMB 5.09 million, a decline of 64.23%, due to foreign exchange gains from the depreciation of the RMB[20] - The company's unallocated profits increased by RMB 34.13 million, a rise of 30.48%, attributed to higher net profits[19] - The company reported a significant increase in other income, which rose by RMB 10.51 million, up 256.59%, due to performance compensation received[20] - The company's tax expenses increased by RMB 8.85 million, an increase of 804.69%, due to higher total profits[20] - The company's total operating costs amounted to CNY 169,724,980.86, up from CNY 165,377,299.07, reflecting a year-over-year increase of 2.1%[45] - The company experienced a rise in asset impairment losses to CNY 6,469,892.28 from CNY 2,703,942.45 in the previous year[53]

Financial Performance - Total operating revenue for the first half of 2016 was CNY 378,139,288.11, representing a 9.25% increase compared to CNY 346,110,408.96 in the same period last year[17]. - Net profit attributable to ordinary shareholders was CNY 32,473,577.81, a significant increase of 406.78% from CNY 6,407,864.29 year-on-year[17]. - Net profit after deducting non-recurring gains and losses reached CNY 22,165,378.77, up 352.58% from CNY 4,897,571.61 in the previous year[17]. - Net cash flow from operating activities was CNY 67,753,872.76, an increase of 424.83% compared to CNY 12,909,773.08 in the same period last year[17]. - Basic earnings per share rose to CNY 0.0685, reflecting a 407.41% increase from CNY 0.0135 in the previous year[18]. - The company achieved a total sales revenue of CNY 378.14 million in the first half of 2016, an increase of 9.25% compared to the same period last year[27]. - The net profit attributable to the parent company reached CNY 32.47 million, a significant increase of 406.78% year-on-year, driven by higher sales and reduced losses in the Australian division[27]. - The company reported a total profit of ¥39,203,049.34, up from ¥3,268,282.11, indicating a significant increase[109]. - Net profit for the period reached ¥33,327,365.15, up from ¥4,891,428.22, marking an increase of approximately 580.5% year-over-year[109]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,171,747,904.00, a 1.01% increase from CNY 1,160,026,231.44 at the end of the previous year[18]. - Total liabilities decreased to ¥454,224,773.60 from ¥468,033,762.00, a reduction of approximately 2.00%[102]. - The company's equity increased to ¥717,523,130.40 from ¥691,992,469.44, representing a growth of approximately 3.67%[102]. - The total amount of guarantees exceeding 50% of net assets was 57,592 thousand[74]. - The actual total guarantees accounted for 132.02% of the company's net assets[74]. Revenue Sources - The domestic division generated revenue of CNY 157.64 million, up 37.36% year-on-year, primarily due to increased sales volume of sunshade fabrics[27]. - The Australian division reported revenue of CNY 202.97 million, a decrease of 10.74% year-on-year[27]. - The top five customers contributed a total revenue of RMB 68,648,279.84, accounting for 18.15% of the total revenue, with Customer A generating RMB 24,192,484.66 (6.40%) and Customer B RMB 20,171,883.31 (5.33%)[37]. Cash Flow - Cash flow from operating activities totaled ¥424,915,016.38, compared to ¥384,316,709.91 in the previous period, an increase of about 10.6%[113]. - The net cash flow from operating activities for the current period is CNY 52,062,277.20, an increase of 63.5% compared to CNY 31,828,107.41 in the previous period[116]. - The total cash and cash equivalents at the end of the period is CNY 53,287,762.20, an increase from CNY 28,019,333.46 in the previous period[118]. - The company experienced a net increase in cash and cash equivalents of CNY 29,353,618.50, compared to a decrease of -CNY 65,262,024.59 in the previous period[118]. Dividends and Shareholder Equity - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[7]. - The company distributed a cash dividend of RMB 1,185 million to shareholders, amounting to RMB 0.25 per share based on a total share capital of 47,400 million shares[52]. - The total equity attributable to the parent company at the end of the previous period was CNY 684,370,074.44, with a decrease of CNY 11,850,000.00 in profit distribution[124]. - The ending balance of total equity for the current period is CNY 666,677,836.04, down from CNY 684,370,074.44 in the previous period[126]. Research and Development - Research and development expenses decreased by 7.58% to CNY 5.90 million[28]. Market Trends and Strategy - The domestic energy-saving industry is experiencing a positive trend, driven by urbanization and the implementation of the "Green Building Action Plan"[41]. - The shading energy-saving industry is expected to enter a period of rapid development due to the significant market for existing building renovations and various local government subsidies[41]. - The company is expanding from fabric to finished shading products and is leveraging overseas acquisitions to introduce international brands, aiming to reduce production costs and enter higher-margin downstream industries[42]. Corporate Governance and Compliance - The company has not reported any significant changes in shareholder structure during the reporting period[84]. - The company has commitments from major shareholders not to transfer or entrust their shares for a specified period[78]. - The company’s management has made commitments to ensure no competition with its own business[80]. - The audit report for the half-year period received a standard unqualified opinion from the auditing firm Zhongzheng Zhonghuan[99]. Mergers and Acquisitions - The company plans to acquire 100% equity of Hong Kong Siming Investment Co., Ltd. controlled by its actual controller, Lu Xianfeng, through issuing shares and cash payment[61]. - The acquisition aims to enhance profitability by securing high-quality milk sources from Australia and expanding fresh milk business channels[61]. - The company is currently conducting due diligence, auditing, and evaluation for the major asset restructuring, which involves complex cross-border procedures[61]. Financial Reporting and Accounting Policies - The financial report was approved by the board of directors on August 18, 2016[143]. - The company has not reported any changes in accounting policies or prior period error corrections during the current period[125]. - The company’s financial report is based on the consolidated balance sheet as of June 30, 2016[99].

Financial Performance - Total operating revenue for Q1 2016 was CNY 181,746,910.02, an increase of 2.41% compared to CNY 177,474,768.00 in the same period last year[7] - Net profit attributable to shareholders was CNY 3,252,298.92, representing a 36.56% increase from CNY 2,381,562.26 year-on-year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 3,022,601.38, up 90.86% from CNY 1,583,703.96 in the previous year[7] - The company achieved operating revenue of 181.75 million RMB, an increase of 2.41% compared to the same period last year[19] - Net profit attributable to the parent company was 3.25 million RMB, representing a growth of 36.56% year-on-year[19] - The company reported a total profit of 3.19 million RMB, which is an increase of 86.3% compared to the previous year[19] - The company reported a net profit margin improvement, although specific profit figures were not disclosed in the provided content[44] - The net profit for the first quarter of 2016 was CNY 6,942,398.90, down from CNY 9,231,936.61 in the same period last year, representing a decrease of approximately 24.0%[50] - The total profit for the first quarter of 2016 was CNY 8,135,560.79, compared to CNY 10,552,517.31 in the previous year, indicating a decline of about 22.5%[49] Cash Flow and Assets - Net cash flow from operating activities reached CNY 32,104,375.72, a significant improvement of 543.50% compared to a negative cash flow of CNY -7,238,868.83 in the same period last year[7] - The company's cash and cash equivalents increased to RMB 111,094,615.43 as of March 31, 2016, compared to RMB 97,873,048.32 at the beginning of the year, reflecting a growth of approximately 13.4%[36] - The total current assets amounted to RMB 432,181,378.64, up from RMB 421,473,133.91, showing an increase of about 2.0%[36] - The total cash and cash equivalents at the end of the period were ¥91,598,615.43, compared to ¥106,794,787.69 at the end of the previous year[54] - The cash inflow from operating activities was CNY 197,089,908.78, an increase from CNY 172,770,178.71 in the previous period[52] - The cash flow from investment activities showed a net outflow of ¥10,984,407.09, compared to a larger outflow of ¥18,430,920.67 in the previous year[54] - The net cash flow from financing activities was negative at ¥14,536,278.83, worsening from a negative cash flow of ¥2,897,889.43 in the same quarter last year[54] Inventory and Receivables - Accounts receivable decreased by 100% to 0 RMB due to the maturity and acceptance of receivable notes[18] - Other receivables decreased by 37.67% to 5.15 million RMB, mainly due to a reduction in settlement amounts[18] - The company experienced an 80.96% decrease in tax refunds received, totaling 1.99 million RMB, due to reduced export tax rebates and government subsidies[18] - Accounts receivable decreased slightly to RMB 87,800,666.04 from RMB 89,491,744.28, indicating a reduction of about 1.9%[36] - Inventory levels remained stable, with a slight increase to RMB 208,650,406.91 from RMB 208,195,056.63, representing a growth of approximately 0.2%[36] - Inventory decreased to CNY 30,314,831.19 from CNY 35,976,845.10[40] Market and Operational Challenges - The company faces market supply shortages in certain regions despite increased production capacity in Australia[9] - There is a risk of inventory impairment due to increased stock levels to ensure supply, which may lead to quality issues over time[10] - The company is experiencing pressure on human resources due to the need for skilled sales personnel and management talent as it expands its operations[10] - The company is preparing for potential funding needs related to acquisitions and expansion in the Australian market, which may be affected by changes in national credit policies[10] Strategic Initiatives - The company plans to leverage the integration effects of its Australian division for future growth[20] - The company strictly executed the annual business plan set by the board, focusing on channel development and brand influence in the domestic market[21] - The company aims to achieve breakthroughs in the external shading product market, particularly in large demonstration projects and among builders[21] - The company is enhancing its market research system to mitigate market risks and improve resource allocation[22] - The company plans to accelerate the development of its human resources management system and employee incentive programs to boost cohesion[22] - The company is adopting a procurement strategy closely aligned with market demand to reduce inventory impairment risks[22] - The company is monitoring inventory closely and adjusting sales strategies to minimize product backlog[22] - The company is tracking refinancing and credit policy trends to optimize funding channels and reduce financing costs[23] Shareholder and Governance - The company is committed to fulfilling its shareholding commitments, including restrictions on share transfers for key stakeholders[26] - The total number of shares for the company is 47.4 million, with a cash dividend of RMB 0.25 per 10 shares for the 2015 fiscal year, approved by the board and shareholders[30] - The company has maintained a clear and transparent cash dividend policy, ensuring the protection of minority shareholders' rights[30] - The company has no reported non-operating fund occupation by controlling shareholders or related parties during the reporting period[32] - There were no violations regarding external guarantees during the reporting period[31] - The company has committed to not engaging in competitive business activities that could conflict with its operations[28] Asset Management - The total assets at the end of the reporting period were CNY 1,166,028,686.93, a slight increase of 0.52% from CNY 1,160,026,231.44 at the end of the previous year[7] - The total liabilities increased to CNY 478,171,157.85 from CNY 468,033,762.00[38] - The total equity attributable to shareholders was CNY 673,502,529.68, down from CNY 678,211,709.89[39] - The company's cash outflow for fixed assets and other long-term assets decreased by 40.40% to 10.98 million RMB, reflecting reduced project expenditures[18] - The company is in the process of significant asset restructuring, with multiple announcements regarding progress made in March 2016[29]

Financial Performance - The company's operating revenue for 2015 was ¥743,446,727.69, representing a 65.99% increase compared to ¥447,889,212.02 in 2014[15]. - The net profit attributable to shareholders for 2015 was ¥31,751,857.98, a slight increase of 2.55% from ¥30,962,598.45 in 2014[15]. - The net profit after deducting non-recurring gains and losses was ¥26,337,617.75, which is a decrease of 4.72% from ¥27,642,035.91 in 2014[15]. - The net cash flow from operating activities decreased by 46.41% to ¥44,064,104.82 from ¥82,220,785.74 in 2014[15]. - The total assets at the end of 2015 were ¥1,160,026,231.44, an 18.72% increase from ¥977,070,645.62 at the end of 2014[15]. - The net assets attributable to shareholders increased by 1.58% to ¥678,211,709.89 from ¥667,634,864.75 at the end of 2014[15]. - The total profit amounted to CNY 32.68 million, a decrease of 16.36% compared to the previous year[35]. - The net profit attributable to the parent company was CNY 31.75 million, reflecting a growth of 2.55% year-on-year[35]. - The company reported a gross profit increase in its sunshine fabric segment despite market competition and rising financing costs[35]. Inventory and Assets - The company reported a significant increase in inventory levels, with the year-end inventory quantity and value substantially higher than the previous year, raising concerns about potential impairment risks due to prolonged storage[4]. - Inventory grew by 36.00%, driven by an increase in the number of KRS stores and product variety[27]. - Inventory value rose to ¥208,195,056.63, accounting for 17.95% of total assets, an increase attributed to higher stock levels including those from the Australian KRS company[62]. - The company's total non-current assets amounted to ¥431,080,000.00, with a notable increase in goodwill from ¥64,420,670.08 to ¥127,442,161.80, which is an increase of approximately 97.5%[198]. - Accounts receivable increased by 35.23%, reflecting a rise in credit sales during the period[27]. - The company's cash and cash equivalents decreased to ¥97,873,048.32 from ¥144,478,470.94, representing a decline of about 32.2%[198]. Investments and Acquisitions - The company increased its working capital loans by 109.95 million yuan, indicating a need for funding to support acquisitions and expansion in the Australian market[4]. - The acquisition of the automotive service platform, GaiShi Auto, marks the company's entry into the automotive aftermarket business[24]. - The company acquired 60% equity in Gai Shi Automotive for a total consideration of CNY 63 million, enhancing its core competitiveness in the automotive sector[39]. - The company invested CNY 62.1 million to acquire a 20% stake in Shanghai Yangche Wuyou E-commerce Co., aiming to strengthen profitability[39]. - The company has a controlling subsidiary in Australia, KRS, which is a leading manufacturer and seller of window coverings in the region[23]. Research and Development - The company holds a total of 170 patent authorizations, with 31 new patents granted in 2015, including 13 invention patents[30]. - The company developed three unique high-performance polymer composite shading materials, breaking the monopoly of foreign companies in this field[22]. - The total R&D investment for 2015 was CNY 12,013,610.40, representing 1.62% of total revenue, a decrease of 1.07% from the previous year due to increased overall revenue from the acquisition of KRS[56][57]. - The company aims to increase its patent portfolio in the field of external shading products, with a focus on innovative product design and control systems[83]. Market Expansion and Strategy - The company is expanding its operations in Australia through Kresta Holdings Limited, which includes the production and sale of various window treatment products[9]. - The company plans to enhance its international presence by developing emerging markets in Africa and South America, leveraging its production advantages[82]. - The company anticipates significant growth in the shading energy-saving industry, driven by increasing building energy efficiency standards and urbanization efforts in China[79]. - The company emphasizes the importance of managing production resources effectively to meet diverse customer demands while avoiding overcapacity or shortages[4]. Human Resources and Management - The company is experiencing pressure on human resources management due to the need for skilled sales personnel for new store openings and a shortage of high-quality management talent as internationalization progresses[4]. - The total salary expense for employees was RMB 202.99 million, accounting for 27.30% of the company's revenue[165]. - The average salary for senior management was RMB 159,700 per person, while the average salary for all employees was RMB 142,000 per person[165]. - The company has implemented a performance assessment mechanism to improve human resource management by linking job performance with compensation[86]. Profit Distribution and Shareholder Engagement - The company plans to distribute a cash dividend of 0.25 yuan per 10 shares (including tax) based on a total share capital of 474 million shares as of December 31, 2015[5]. - The company has revised its profit distribution policy to ensure a stable and continuous return to investors, with a minimum of 30% of the average distributable profit over the last three years to be distributed in cash[90]. - The company has maintained a consistent cash dividend policy, with cash dividends of RMB 11,850,000 in 2015, RMB 15,800,000 in 2014, and RMB 7,900,000 in 2013, representing 37.32%, 51.03%, and 36.10% of the net profit attributable to ordinary shareholders, respectively[106]. - The company actively engages with shareholders to gather opinions on profit distribution policies through various channels[99]. Governance and Compliance - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team[167]. - The company has implemented a series of governance improvements, including revisions to the Articles of Association and the establishment of specialized committees[167]. - The audit report issued by Zhongzheng Accounting Firm confirmed that the financial statements fairly represent the company's financial position as of December 31, 2015[196]. - The company maintains independence from its controlling shareholder in business, personnel, assets, and finance[177]. Challenges and Risks - The company acknowledges the risks associated with policy changes that could impact the energy-saving industry, which is heavily influenced by regulations and standards[5]. - The company is facing market supply shortages in certain regions despite the establishment of a new factory in Australia to enhance product supply and after-sales support capabilities[3]. - The competitive landscape remains unchanged, with high-end markets dominated by foreign brands and a few domestic manufacturers, while smaller firms focus on low-end products[81].

Financial Performance - Total operating revenue for the period was CNY 172,108,308.26, representing a year-on-year growth of 52.48%[7] - Net profit attributable to shareholders was CNY 8,441,836.10, up 61.75% from the same period last year[7] - Basic earnings per share for the period was CNY 0.02, a 100% increase compared to the previous quarter[7] - The company's total revenue for the reporting period reached RMB 518,218,717.22, representing a year-on-year increase of 111.93% due to the addition of revenue from the newly acquired Australian subsidiary[30] - The company reported a significant increase in financial expenses of RMB 6,423,021.86, up 428.49%, due to interest expenses from loans related to the acquisition of KRS[27] - The company anticipates a return to rapid growth in future performance, driven by the successful integration of the Australian subsidiary[32] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 1,092,096,839.07, an increase of 11.77% compared to the previous year[7] - Current assets totaled RMB 396,952,662.15, slightly up from RMB 394,201,182.65 at the beginning of the period[57] - Total liabilities rose to CNY 176,188,161.25, compared to CNY 58,954,697.29 at the start of the period[63] - Short-term borrowings surged by RMB 62,216,947.58, a staggering increase of 8805.3%, due to increased bank loans[24] - The company reported accounts receivable of RMB 97,140,130.21, up from RMB 67,198,439.57, indicating improved sales performance[57] Operational Challenges - The company faces challenges in recruiting skilled labor due to increasing competition and rising salary demands[11] - There is a risk of supply shortages in certain regions despite the new capacity being added in Australia[10] - The company has identified potential risks related to foreign exchange fluctuations impacting its financial performance[12] - The company will actively utilize techniques such as settlement currency, pricing strategies, and hedging tools to mitigate foreign exchange risks, although effectiveness is considered limited[35] Investments and Projects - The polymer composite engineering new material expansion project has a total investment of CNY 186.44 million, with 100% completion status[46] - The full-shading foam coating product production line project has an investment of CNY 55 million, also with 100% completion status[46] - The company has achieved profitability in the full-shading foam coating product production line project[46] - The polymer composite engineering new material expansion project has not met the expected production capacity due to market influences[46] Market Strategy - The company plans to enhance its market research system and improve resource allocation and response capabilities to mitigate market risks[33] - The company aims to accelerate the development of its human resources management system and employee incentive plans to enhance corporate cohesion[34] - The company will monitor refinancing policies and credit policy trends to effectively arrange funding channels and minimize financing costs[36] - The company will strengthen its market research system to address policy risks that ultimately impact market risks[37] Shareholder Actions - The company plans to distribute a cash dividend of RMB 1 per 10 shares, totaling RMB 15.8 million, which represents a cash dividend payout ratio of 51.03% of the net profit attributable to shareholders[51] - The controlling shareholder, Mr. Lu Xianfeng, has initiated a share buyback plan, intending to acquire up to 2% of the company's total shares, with a total planned investment of no less than RMB 200 million[53] - As of the report date, Mr. Lu has increased his holdings by 4,740,000 shares, accounting for 1% of the total share capital, with an average purchase price of RMB 8.4463 per share[53] Cash Flow and Financial Health - The cash balance decreased by RMB 67,227,483.09, a decline of 46.53%, primarily due to increased external investment payments[23] - Cash flow from operating activities totaled ¥513,368,830.75, significantly higher than ¥204,791,614.49 in the prior period[80] - The ending cash and cash equivalents balance was ¥63,054,987.85, a decrease from ¥131,769,201.95 at the end of the previous period[81] - The company reported a total investment cash outflow of 143,433,549.17 CNY, significantly higher than 26,996,853.64 CNY in the previous year[84]