Financial Performance - The company's operating revenue for the first half of 2022 was ¥236,139,674.37, a decrease of 12.02% compared to ¥268,416,764.27 in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached ¥134,454,066.66, representing a significant increase of 1,428.73% from ¥8,795,174.42 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was ¥3,369,696.98, down 57.47% from ¥7,923,976.28 in the same period last year[23]. - The net cash flow from operating activities was -¥22,738,460.30, a decline of 343.05% compared to ¥9,355,646.04 in the previous year[23]. - Basic earnings per share increased to ¥0.1672, up 1,433.94% from ¥0.0109 in the same period last year[23]. - The company's total revenue for the reporting period was CNY 236.14 million, reflecting a year-on-year decrease of 12.02%[40]. - The company's net profit for the reporting period was CNY 13.45 million, with CNY 12.94 million derived from the sale of the subsidiary's equity[40]. - The company reported a net profit of CNY 2,337,800,000, with a year-on-year increase of 20.76%[50]. - The company reported a net profit impact of 1.0892 million yuan from the recovery of related party debts during the reporting period[102]. - The company reported a total comprehensive income of CNY 180,962,942.60 for the first half of 2022, compared to CNY 8,064,226.74 in the same period of 2021[141]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,190,417,476.77, an increase of 16.46% from ¥1,022,175,500.47 at the end of the previous year[23]. - The company's total assets as of June 30, 2022, amounted to CNY 1,190,417,476.77, compared to CNY 1,022,175,500.47 at the beginning of the year, reflecting an increase of 16.5%[134]. - Total liabilities decreased to CNY 148,343,367.05 from CNY 161,064,333.37, indicating a reduction of 7.8%[134]. - The company's total equity increased to CNY 1,042,074,109.72 from CNY 861,111,167.10, marking a growth of 21.0%[134]. - The company’s total liabilities remained at CNY 0, indicating no financial liabilities reported[48]. - The company’s overall asset rights were not significantly restricted, with the only limitation being related to litigation[50]. Investments and Research - The company has a stable financial condition with a significant investment in research and development, amounting to CNY 5.48 million[40]. - The company has allocated 1,150,640 yuan for research and development in new technologies[159]. - Research and development expenses for the first half of 2022 were CNY 5,482,946.98, down from CNY 6,440,676.66 in the first half of 2021, indicating a decrease of 14.9%[140]. - The company plans to adjust product and market structure to expand domestic sales in response to external economic challenges[73]. - The company aims to accelerate new product development and optimize product structure to enhance competitiveness against price competition[74]. Market and Product Strategy - The company has expanded its product line and market reach through both self-owned brands and ODM/OEM models, serving clients in over 30 countries[32]. - The company plans to expand its market presence through new product launches and technological advancements in the upcoming quarters[151]. - The overall market expansion strategy includes entering new geographical regions and diversifying product offerings[151]. - The company aims to enhance its user base by 10% through targeted marketing strategies and partnerships[151]. - Future guidance suggests a revenue growth target of 20% for the next fiscal year, driven by new market opportunities[151]. Cash Flow and Financial Management - The cash flow from operating activities showed a net outflow of CNY 22.74 million, primarily due to reduced cash receipts from sales[40]. - The company's cash and cash equivalents decreased from 91,327,247.98 RMB at the beginning of the year to 49,366,423.62 RMB by June 30, 2022[132]. - The company's cash flow from operating activities showed a net outflow of CNY 22,738,460.30 in the first half of 2022, contrasting with a net inflow of CNY 9,355,646.04 in the same period of 2021[145]. - The total amount of entrusted financial management during the reporting period was RMB 364.46 million, with no overdue amounts[62]. - The company has not engaged in any derivative investments during the reporting period[63]. Shareholder and Equity Information - The company’s total shares amount to 804,040,313, with 99.90% being unrestricted shares[116]. - The largest shareholder, Rongjie Investment Holding Group, holds 14.54% of shares, totaling 116,912,302 shares, which are pledged[118]. - The total number of common shareholders at the end of the reporting period was 40,288[118]. - No cash dividends or stock bonuses will be distributed for the half-year period, nor will there be any capital reserve transfers to increase share capital[84]. Legal and Compliance - The company is currently involved in arbitration cases with a total amount of approximately 809.95 million yuan, with ongoing proceedings[96]. - The company has not reported any issues with the use and disclosure of fundraising funds[59]. - The company has not engaged in any related party transactions concerning daily operations during the reporting period[98]. - The semi-annual financial report was not audited[130]. - The company has not identified any significant doubts regarding its ability to continue as a going concern for the next 12 months[168]. Environmental and Social Responsibility - There are no significant environmental penalties or issues reported during the period, and the company has not been classified as a key pollutant discharge unit[88]. - The company is focusing on sustainability initiatives as part of its long-term strategy to attract environmentally conscious consumers[155].

Financial Performance - The company's revenue for Q1 2022 was ¥123,228,041.25, a decrease of 13.20% compared to ¥141,962,434.91 in the same period last year[3] - Net profit attributable to shareholders was ¥5,162,844.88, down 36.98% from ¥8,192,592.25 year-on-year[3] - The total operating revenue for Q1 2022 was CNY 123,228,041.25, a decrease of 13.2% compared to CNY 141,962,434.91 in the same period last year[16] - The total profit of CNY 19,384,707.95, up from CNY 15,969,477.59 in the same period last year, marking an increase of about 21.5%[18] - The net profit for Q1 2022 was CNY 12,373,896.73, an increase from CNY 11,742,053.34 in Q1 2021, representing a growth of approximately 5.4%[18] - The total comprehensive income attributable to the parent company was CNY 4,997,600.98, down from CNY 10,203,072.50 in Q1 2021, indicating a decrease of approximately 51.0%[18] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 32.49%, amounting to ¥6,375,180.75 compared to ¥9,442,728.18 in the previous year[3] - The cash and cash equivalents at the end of the period were CNY 83,514,872.81, down from CNY 117,053,396.37 at the end of Q1 2021, a decrease of approximately 28.7%[21] - The cash flow from investment activities was negative at CNY -13,885,986.01, compared to CNY -52,602,553.75 in the previous year, showing an improvement in cash outflow[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,020,948,318.61, a slight decrease of 0.12% from ¥1,022,175,500.47 at the end of the previous year[3] - The total liabilities decreased to CNY 147,854,364.60 from CNY 161,064,333.37 at the beginning of the year, reflecting a reduction of 8.2%[14] - The company's inventory increased to CNY 163,296,026.94 from CNY 149,163,353.47, representing a growth of 9.5%[13] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 41,851, with the largest shareholder holding 14.54% of the shares[8] - The total equity attributable to shareholders increased to CNY 836,337,343.17 from CNY 831,428,719.68, indicating a marginal growth[15] Expenses and Taxation - The company's financial expenses decreased significantly by 192.18%, resulting in a net financial expense of -¥61,602.19 compared to -¥787,251.65 in the previous year[7] - The income tax expense increased by 65.84% to ¥7,010,811.22, attributed to the profitability of the company's U.S. subsidiary[7] - The company reported a tax expense of CNY 7,010,811.22, which increased from CNY 4,227,424.25 in Q1 2021, reflecting a rise of approximately 65.5%[18] Accounts Receivable and R&D - Accounts receivable decreased by 44.96% to ¥18,735,743.82, primarily due to the collection of prior receivables[6] - Research and development expenses for Q1 2022 were CNY 2,667,178.09, a slight decrease from CNY 2,876,376.21 in the previous year[16] - The company reported a decrease in accounts receivable from CNY 34,042,937.80 to CNY 18,735,743.82, a reduction of 45%[13] Foreign Exchange and Other Losses - The company experienced a foreign exchange loss of CNY 301,569.91, compared to a gain of CNY 224,872.66 in the previous year[21]

Financial Performance - The company's operating revenue for 2021 was approximately ¥526.50 million, representing a 2.42% increase compared to ¥514.08 million in 2020[22]. - The net profit attributable to shareholders for 2021 was approximately ¥24.20 million, a significant turnaround from a loss of ¥65.73 million in 2020, marking a 136.82% improvement[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥4.98 million, compared to a loss of ¥68.17 million in the previous year, reflecting a 107.31% increase[22]. - The company's total assets at the end of 2021 were approximately ¥1.02 billion, an increase of 6.86% from ¥956.58 million at the end of 2020[22]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥831.43 million, up 2.86% from ¥808.30 million at the end of 2020[22]. - The basic earnings per share for 2021 were ¥0.03, compared to a loss of ¥0.08 per share in 2020, indicating a 137.50% improvement[22]. - The weighted average return on net assets for 2021 was 2.95%, a significant increase from -7.79% in 2020[22]. - The net cash flow from operating activities for 2021 was approximately ¥10.82 million, a decrease of 86.63% from ¥80.97 million in 2020[22]. Revenue Breakdown - The company's total revenue for Q1 2021 was approximately CNY 141.96 million, with a net profit attributable to shareholders of CNY 8.19 million[27]. - In Q2 2021, the company reported revenue of CNY 126.45 million and a net profit of CNY 602,582.17[27]. - The company achieved total operating revenue of CNY 526.50 million in 2021, representing a year-on-year growth of 2.42%[44]. - Net profit attributable to shareholders reached CNY 24.20 million, a significant increase of 136.82% compared to the previous year[44]. - Sales revenue from infrared therapy rooms increased by 3.67% to CNY 275.60 million, accounting for 52.35% of total revenue[45]. - Air purification product sales surged by 70.41% to CNY 77.51 million, representing 14.72% of total revenue[49]. - The company sold 38,576 infrared therapy devices in 2021, a 12.15% increase from 34,398 units in 2020[50]. - The air purification series saw a remarkable sales volume increase of 100.70%, with 181,663 units sold compared to 90,513 units in the previous year[51]. Investments and Cash Flow - The net cash flow from investing activities turned negative at -¥69,261,623.54, a decrease of 273.99% year-on-year, attributed to increased purchases of bank wealth management products and term deposits[61]. - The net cash flow from financing activities improved by 84.48%, resulting in a net cash outflow of -¥5,696,896.85, as the company had no bank borrowings or interest repayments during the reporting period[61]. - Total investments during the reporting period amounted to ¥149,220,000, reflecting a year-on-year increase of 22.36% from ¥121,946,015[72]. - The company's cash and cash equivalents decreased by 192.87% to -¥68,661,101.30, primarily due to procurement payments and investments in bank wealth management products[60]. - Investment income contributed ¥7,252,074.22, accounting for 19.20% of total profit, with sustainable income from bank wealth management products[64]. - Fair value gains amounted to ¥15,862,813.46, representing 42.00% of total profit, also linked to bank wealth management products[64]. Research and Development - R&D expenses slightly increased by 0.81% to ¥13,515,661.18, accounting for 2.57% of total revenue[58]. - The number of R&D personnel rose by 16.18% to 79, with their proportion of total employees increasing to 11.92%[58]. - The company is in the functional testing phase for a smart health control system for sauna rooms, aiming to enhance product competitiveness[57]. - A new air purifier product is in the verification stage, designed to meet diverse user needs with features like UVC sterilization and negative ion purification[57]. - The company has completed the development of a compact massage chair targeting young professional women, which is now in mass production[58]. - The R&D investment in 2021 was ¥13,515,661.18, a slight increase from the previous year, maintaining a stable investment strategy[58]. Market and Industry Outlook - The health industry in China had a market size of CNY 7.24 trillion in 2020, with significant growth potential driven by policy support and an aging population[32]. - The health service industry is projected to reach a total scale of CNY 16 trillion by 2030, indicating strong future growth prospects[33]. - The company aims to achieve a compound annual growth rate of 8.3% in the health service industry by 2030, reaching a total scale of 16 trillion yuan[88]. Corporate Governance - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring complete operational autonomy[117]. - The annual shareholders' meeting had a participation rate of 22.32%[119]. - There were no significant discrepancies between the company's governance practices and the regulations set by the China Securities Regulatory Commission[116]. - The company has a strong governance structure that complies with relevant laws and regulations[116]. - The board of directors includes experienced members with extensive backgrounds in finance and industry, enhancing strategic decision-making[123][124]. Risk Management - The company has outlined potential risks and countermeasures in its future development outlook, emphasizing the importance of risk awareness for investors[5]. - The company faces risks from a complex macroeconomic environment, including potential reductions in foreign trade orders due to factors like the pandemic and international transport issues[97]. - To mitigate competition risks, the company will accelerate new product development, optimize product structure, and enhance brand value to increase market share[99]. - The company is actively optimizing its supply chain to manage the risk of raw material price fluctuations, which significantly impact operating costs[101]. Employee and Stakeholder Relations - The company emphasizes the importance of stakeholder communication to balance interests among shareholders, employees, and society[115]. - The total number of employees at the end of the reporting period is 663, with 383 in the parent company and 280 in major subsidiaries[149]. - The employee composition includes 433 production personnel, 79 sales personnel, 79 technical personnel, 22 financial personnel, and 50 administrative personnel[149]. - The company emphasizes its commitment to employee rights, ensuring reasonable income growth and promoting a safe working environment[164]. Legal and Compliance - The company is currently involved in several legal disputes, with a total amount of 1,343.54 million RMB in one case and 809.95 million RMB in another, both of which are ongoing[178]. - The company has confirmed that it and its controlling shareholders have no records of legal violations or dishonesty[181]. - The company has maintained compliance with environmental regulations, confirming it is not classified as a key pollutant unit and has not faced any administrative penalties during the reporting period[164].

Financial Performance - The company's operating revenue for Q3 2021 was ¥99,373,210.78, a decrease of 16.53% compared to the same period last year[3] - Net profit attributable to shareholders for Q3 2021 was ¥21,457,778.48, an increase of 193.38% year-on-year[3] - The basic earnings per share for Q3 2021 was ¥0.0267, reflecting a growth of 193.31% compared to the previous year[3] - The total operating revenue for Q3 2021 was CNY 367,789,975.05, an increase of 3.9% compared to CNY 355,924,742.33 in the same period last year[27] - The net profit for Q3 2021 was CNY 36,549,298.46, a significant recovery from a net loss of CNY 22,625,816.44 in the previous year[28] - The company reported a gross profit margin of approximately 2.0% for Q3 2021, compared to a negative margin in the same quarter last year[27] - Basic and diluted earnings per share for Q3 2021 were CNY 0.0376, recovering from a loss of CNY 0.0424 in the same quarter last year[29] - The comprehensive income for Q3 2021 totaled CNY 33,487,828.02, a turnaround from a loss of CNY 24,646,276.97 in the previous year[28] Assets and Liabilities - Total assets at the end of Q3 2021 reached ¥1,000,443,875.58, representing a 4.59% increase from the end of the previous year[3] - The total assets as of Q3 2021 were CNY 1,000,443,875.58, up from CNY 956,578,278.65 at the end of the previous year[25] - The total liabilities increased to CNY 135,647,611.22 from CNY 125,269,842.33, reflecting a rise of 3.0%[25] - The company’s equity attributable to shareholders was CNY 835,487,341.96, compared to CNY 808,295,859.49 in the previous year, showing a growth of 3.4%[25] Cash Flow - The company reported a net cash flow from operating activities of -¥5,873,002.92 for the year-to-date, a decline of 108.72%[3] - The net cash flow from operating activities was -5,873,002.92, a decrease from 67,365,421.97 in the previous period, indicating a significant decline in operational performance[32] - Cash inflow from operating activities totaled 432,121,324.40, compared to 391,394,841.13 in the previous period, reflecting a year-over-year increase of approximately 10.4%[32] - Cash outflow from operating activities was 437,994,327.32, up from 324,029,419.16, representing a 35.3% increase[32] - Cash flow from investment activities showed a net outflow of -67,490,037.99, contrasting with a net inflow of 46,409,164.76 in the previous period[32] - The company reported cash and cash equivalents at the end of the period amounting to 85,996,726.11, down from 165,266,221.55, a decline of approximately 48%[32] Investments - Investment income for the year-to-date increased by 122.30%, amounting to an increase of ¥48,729,500 compared to the previous year[10] - The company completed the transfer of a 21% stake in Beijing Central Broadcasting United Media Investment Co., Ltd. for 70 million RMB[19] - The company has also transferred a 6.8232% stake in Anhui Yinglian Yunxiang Medical Technology Co., Ltd. for approximately 13.13 million RMB[20] - The company made a third investment payment of 27.5 million RMB to Zhongsheng Traceability Biotechnology Co., Ltd., completing its total investment commitment[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 39,659[14] - The largest shareholder, Rongjie Investment Holding Group Co., Ltd., holds 14.54% of shares, amounting to 116,912,302 shares, with 91,270,000 shares pledged[14] Operational Challenges - The company experienced a significant increase in cash outflow related to operating activities, which may impact future liquidity and operational strategies[32] - The company is focusing on improving cash flow management in light of the recent declines in both operating and investment cash flows[32] - The company has no preferred shareholders and no significant changes in restricted shares during the reporting period[16] Research and Development - Research and development expenses for Q3 2021 were CNY 9,969,905.85, an increase from CNY 8,725,943.55 in the previous year, indicating a focus on innovation[27] Audit and Compliance - The third-quarter report was not audited, which may affect the reliability of the financial data presented[34] - The company did not adjust the beginning balance of the balance sheet items due to the adoption of the new leasing standards, as it chose not to recognize right-of-use assets and lease liabilities[33]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥268,416,764.27, representing a 13.32% increase compared to ¥236,869,822.93 in the same period last year[21]. - The net profit attributable to shareholders was ¥8,795,174.42, a significant turnaround from a loss of ¥11,084,714.60 in the previous year, marking a 179.35% improvement[21]. - The net profit after deducting non-recurring gains and losses was ¥7,923,976.28, compared to a loss of ¥13,415,558.64 last year, reflecting a 159.07% increase[21]. - The basic earnings per share increased to ¥0.0109 from a loss of ¥0.0138, showing a 178.99% improvement[21]. - The total assets at the end of the reporting period were ¥960,338,328.38, a slight increase of 0.39% from ¥956,578,278.65 at the end of the previous year[21]. - The net assets attributable to shareholders rose to ¥813,651,887.46, up 0.66% from ¥808,295,859.49 at the end of the last year[21]. - The weighted average return on net assets was 1.08%, compared to -0.02% in the previous year, indicating a positive shift[21]. - The company reported a total of ¥871,198.14 in non-recurring gains and losses during the reporting period[25]. Cash Flow and Investments - The net cash flow from operating activities was ¥9,355,646.04, down 85.19% from ¥63,182,512.21 in the same period last year[21]. - The cash flow from investment activities decreased by 596.73%, primarily due to increased purchases of bank wealth management products[40]. - Total investments during the reporting period reached 220,101,200.00, an increase of 23.93% compared to 177,601,786.00 in the same period last year[54]. - The company reported a total cash inflow from operating activities of ¥105,980,628.69, up from ¥47,317,579.86 in the previous year, indicating strong sales growth[157]. - The total cash outflow for investment activities was ¥118,442,107.14, which is a decrease from ¥188,876,003.68 in the previous year, reflecting a reduction in capital expenditures[159]. Research and Development - The company invested CNY 6.44 million in R&D, reflecting a 4.40% increase from the previous year[40]. - Research and development expenses for the first half of 2021 were CNY 6,440,676.66, compared to CNY 6,169,410.35 in the same period of 2020, reflecting an increase of 4.4%[145]. - Research and development expenses increased to CNY 4,284,665.62 in the first half of 2021, up from CNY 1,391,864.58 in the same period of 2020, reflecting a growth of approximately 208.5%[150]. - The company has over 380 patents and has established a strong R&D system in collaboration with several universities[35]. Market and Product Development - The sales revenue from infrared therapy rooms, air purifiers, and fitness equipment saw substantial growth, contributing to the overall revenue increase[34]. - The company has expanded its product line and sales channels, enhancing its competitiveness in the market[34]. - The company plans to adjust its product and market structure flexibly to expand domestic sales, effectively reducing the impact of macroeconomic fluctuations on its business[75]. - The company aims to accelerate new product development, optimize product structure, reduce production costs, and enhance brand value to increase market share and competitiveness[77]. Financial Position and Equity - The total equity attributable to shareholders was CNY 879,555,281.07 as of June 30, 2021, slightly up from CNY 877,724,028.27 at the end of 2020[144]. - The total assets of the company at the end of the reporting period were 1.34 billion yuan, up from 1.31 billion yuan at the end of the previous year, marking a growth of 2.3%[165]. - The total liabilities at the end of the reporting period were 651 million yuan, which is a slight increase from 640 million yuan in the previous period[165]. - The company has allocated 22.1 million yuan for general risk reserves, which is consistent with the previous period[167]. Compliance and Governance - The company has maintained compliance with environmental regulations and has not faced any administrative penalties related to environmental issues[91]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[95]. - The company did not distribute cash dividends or issue bonus shares during the reporting period[87]. - The company has not reported any significant litigation or arbitration matters during the reporting period[102]. Risks and Challenges - The company faces risks from rising raw material prices, which constitute a significant portion of its operating costs, and is implementing strategies to optimize its supply chain and manage procurement flexibly[79]. - The company is actively managing foreign exchange risks due to its substantial overseas business, employing flexible pricing strategies and maintaining communication with relevant institutions[81]. - The company is focusing on expanding new products and businesses despite challenges such as talent shortages and slow R&D progress, and is enhancing its R&D capabilities through collaboration with third-party firms[80]. Shareholder Information - The total number of shares outstanding is 804,040,313, with 99.87% being unrestricted shares[121]. - The largest shareholder, Rongjie Investment Holding Group Co., Ltd., holds 14.54% of the shares, totaling 116,912,302 shares[123]. - The company has no major related party transactions during the reporting period[103].

Financial Performance - The company's revenue for Q1 2021 was CNY 141,962,434.91, representing a 24.71% increase compared to CNY 113,831,468.13 in the same period last year[8]. - The net profit attributable to shareholders was CNY 8,192,592.25, a significant turnaround from a loss of CNY 15,407,677.21, marking a 153.17% improvement[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 7,629,271.47, compared to a loss of CNY 15,442,503.23, reflecting a 149.40% increase[8]. - The company's operating revenue increased by 28.13 million yuan, a growth of 24.71% year-on-year, and excluding the revenue from the sold subsidiary Shanghai Ruiyu, the revenue increased by 63.16 million yuan, a growth of 80.15%[25]. - The company's net profit attributable to ordinary shareholders increased by 8.19 million yuan, a rise of 153.17% year-on-year[33]. - The total comprehensive income attributable to the parent company was CNY 10,203,072.50, compared to a loss of CNY 15,832,919.16 in the same period last year[58]. - The basic and diluted earnings per share for the quarter were CNY 0.0102, recovering from a loss of CNY 0.0192 in the previous year[58]. Cash Flow and Assets - The net cash flow from operating activities was CNY 9,442,728.18, up 10.17% from CNY 8,570,859.68 in the previous year[8]. - Cash inflow from operating activities totaled ¥46,543,317.02, significantly increasing from ¥20,014,361.40 in the previous period[67]. - The cash flow from financing activities generated a net inflow of ¥21,188,932.83, with total cash outflow amounting to ¥8,811,067.17[69]. - The company's cash and cash equivalents decreased to CNY 30,079,500.33 from CNY 74,412,506.96, a decline of 59.6%[51]. - The total cash outflow from investing activities was ¥66,817,526.40, down from ¥128,906,430.32 in the previous period, resulting in a net cash flow from investing activities of -¥45,539,059.46[69]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 956,476,863.59, a slight decrease of 0.01% from CNY 956,578,278.65 at the end of the previous year[8]. - The company's current assets decreased to CNY 452,996,227.43 from CNY 482,597,303.79, reflecting a decline of approximately 6.1%[48]. - The total liabilities decreased to CNY 67,423,555.92 from CNY 79,189,997.84, reflecting a decline of about 15%[49]. - Total liabilities decreased to CNY 162,864,008.58 from CNY 166,927,541.65 at the end of 2020, a reduction of 2.0%[54]. Operational Efficiency - The gross profit margin improved from 23.22% to 25.36% during the reporting period[32]. - Total operating costs for Q1 2021 were CNY 130,707,253.35, up from CNY 121,479,126.10 in the same period last year, representing an increase of 7.9%[57]. - The company's accounts receivable decreased by 32.98%, down CNY 14,598,800, mainly due to the collection of previous receivables[20]. - Sales expenses decreased by 7.19 million yuan, a decline of 38.72%, mainly due to Shanghai Ruiyu not being included in the consolidated financial statements[26]. Investment and Development - Investment income increased by 7.34 million yuan, a growth of 105.54%, primarily due to the exclusion of investment income from sold subsidiaries[28]. - Research and development expenses for Q1 2021 were CNY 2,876,376.21, down from CNY 3,158,771.86 in Q1 2020, a decrease of 8.9%[57]. - Research and development expenses increased to CNY 1,907,048.63, up from CNY 607,057.48, indicating a focus on innovation[61]. Strategic Initiatives - The company plans to optimize its supply chain and strengthen supplier relationships to mitigate risks from raw material price fluctuations[35]. - The company aims to accelerate new product development and enhance brand value to improve market competitiveness[35]. Compliance and Governance - The company reported no violations regarding external guarantees during the reporting period[41]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[42]. - The company did not experience any significant changes in project feasibility or issues with the use of raised funds[40].

Financial Performance - In 2020, the company's operating revenue was ¥514,081,347.52, a decrease of 29.59% compared to ¥730,153,384.04 in 2019[17] - The net profit attributable to shareholders was a loss of ¥65,728,886.86, an improvement of 90.82% from a loss of ¥716,058,364.25 in 2019[17] - The net cash flow from operating activities was ¥80,965,344.72, down 19.09% from ¥100,063,464.55 in 2019[17] - The total assets at the end of 2020 were ¥956,578,278.65, a decrease of 15.68% from ¥1,134,527,481.31 at the end of 2019[17] - The company's net assets attributable to shareholders decreased by 7.75% to ¥808,295,859.49 from ¥876,231,983.53 in 2019[17] - The basic earnings per share improved to -¥0.08 from -¥0.89 in 2019, reflecting a 91.01% increase[17] - The company reported significant losses due to impairments related to investments in subsidiaries and joint ventures, particularly in the first quarter of 2020[6] - The company’s weighted average return on net assets was -7.79%, an improvement of 50.51% from -58.30% in 2019[17] Revenue and Sales Breakdown - In Q1 2020, the company reported revenue of approximately ¥113.83 million, which increased to ¥158.16 million in Q4 2020, marking a growth of 39% quarter-over-quarter[19] - Revenue from far-infrared therapy equipment increased by 46.92% to ¥267.42 million, accounting for 52.02% of total revenue[54] - Sales of massage products plummeted by 86.49% to ¥46.13 million, representing only 8.97% of total revenue[54] - Air purification series revenue rose by 66.47% to ¥45.48 million, contributing 8.85% to total revenue[54] - Export sales accounted for 75.06% of total revenue at ¥385.87 million, while domestic sales dropped by 60.91% to ¥128.21 million[56] Operational Improvements - The company divested from several loss-making assets, which significantly reduced operational losses and improved overall financial health[31] - The establishment of an industrial design center accelerated product R&D and innovation, expanding the product range across various price segments[31] - The company enhanced production and quality control, leading to improved product cost-effectiveness and increased customer satisfaction[31] - Marketing management was strengthened, resulting in a brand image upgrade and a more effective marketing system that improved product sales[31] Research and Development - The company applied for 63 new patents during the reporting period, bringing the total to over 380 patents[39] - The company's R&D expenditure for 2020 was ¥13,406,912.52, a decrease of 61.95% compared to ¥35,237,406.91 in 2019[64] - The R&D expenditure accounted for 2.61% of the operating revenue in 2020, down from 4.83% in 2019[66] Future Outlook and Strategy - The company plans to continue investing in product optimization and R&D to enhance market competitiveness[65] - The company plans to enhance its product development and technology innovation, with a focus on launching most of the planned product series in 2021[102] - The company aims to optimize its production processes and supply chain to reduce operational costs and improve gross margins in 2021[101] - The company will continue to seek investment opportunities in the health industry to expand its business growth points[104] Market Trends and Growth Potential - The health product market is projected to grow significantly, with the total demand expected to increase due to rising living standards and health awareness[34] - The total market size for the health service industry in China is expected to reach approximately ¥16 trillion by 2030, indicating substantial growth potential[34] - The health industry in China currently accounts for only 4%-5% of GDP, indicating significant growth potential compared to developed countries where it exceeds 15%[98] - The COVID-19 pandemic has accelerated the growth of the health industry, making it a new highlight for economic growth in China[99] Shareholder and Governance Structure - The company has committed to fulfilling all promises made by its actual controllers and shareholders during the reporting period[116] - The company guarantees the independence of its assets, ensuring that all assets are under the company's control and not used to secure debts of related parties[117] - The company has established a robust governance structure to ensure independent decision-making by its board and management[118] - The company has committed to independent tax compliance, ensuring it pays taxes independently from related parties[117] Compliance and Regulatory Matters - The management team highlighted the importance of regulatory compliance and transparency in all business operations to maintain investor trust[120] - The company has not faced any penalties from securities regulatory authorities for the current or past three years[198] - The company emphasizes compliance with laws and regulations, ensuring accurate and timely information disclosure to shareholders[155] Employee and Management Compensation - The total remuneration for the chairman, Mr. Lü Xiangyang, is 5.12 million CNY[200] - The total remuneration for the general manager, Ms. Xing Fenling, is 8.705 million CNY[200] - The total remuneration for the deputy general manager, Mr. Zhang Yi, is 6.727 million CNY[200] - The total remuneration for director, Mr. Wei Xi, is 3.07 million CNY[200]

Financial Performance - Operating revenue for the reporting period was CNY 119,054,919.40, down 33.43% year-on-year[7] - Net profit attributable to shareholders was a loss of CNY 22,979,553.36, representing a decline of 328.70% compared to the same period last year[7] - Basic earnings per share were -CNY 0.0286, a decline of 328.80% compared to the same period last year[7] - The weighted average return on net assets was -2.66%, a decrease of 3.29% compared to the previous year[7] - The net loss for Q3 2020 was CNY 18,156,968.32, compared to a net profit of CNY 8,876,137.98 in the same period last year[45] - The net profit for the current period is a loss of CNY 40,700,682.81, compared to a profit of CNY 3,660,631.80 in the previous period[49] - Total comprehensive income for the current period is a loss of CNY 40,700,682.81, compared to a gain of CNY 3,660,631.80 in the previous period[50] - The net loss for the period was CNY 65,857,571.07, significantly higher than the loss of CNY 1,839,189.21 in the same period last year[58] Cash Flow - The net cash flow from operating activities was CNY 4,182,909.76, a decrease of 75.16% year-on-year[7] - Cash flow from operating activities related to sales decreased by 45.44% year-on-year, mainly due to the sale of equity in subsidiaries[20] - Cash received from operating activities totaled CNY 391,394,841.13, down from CNY 746,078,772.46 in the previous period[61] - The net cash flow from financing activities was -33,630,683.34 CNY, an improvement from -117,228,088.65 CNY in the same period last year[62] - The net cash flow from investment activities was 46,409,164.76 CNY, a significant improvement compared to the previous year's negative cash flow of -101,613,385.56 CNY[62] Assets and Liabilities - Total assets at the end of the reporting period were CNY 972,015,037.75, a decrease of 14.32% compared to the end of the previous year[7] - The total liabilities of the company decreased to 105,683,806.32 yuan as of September 30, 2020, down from 244,007,113.84 yuan at the end of 2019, a reduction of about 56.7%[37] - The total current assets increased to CNY 296,096,031.65 from CNY 193,304,790.67 year-over-year[40] - The total liabilities as of September 30, 2020, were CNY 166,194,738.35, compared to CNY 142,188,875.52 in the previous period[41] - The company reported a total equity of CNY 890,520,367.47, with a capital reserve of CNY 1,344,583,497.93[70] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 54,153[11] - The largest shareholder, Rongjie Investment Holding Group Co., Ltd., held 14.54% of the shares[11] Investment and Subsidiaries - The company reported a loss from equity transfer amounting to CNY 1,755,741.53 during the reporting period[8] - The company completed the transfer of 35% equity in its subsidiary Aima Kang to individual Lei Ping, with the transfer process finalized on January 14, 2020[24] - The company approved the transfer of 100% equity in its wholly-owned subsidiary Foresight to Pan Jianzhong, with the transfer completed by March 27, 2020[24] - The company announced a major asset sale on June 8, 2020, intending to sell 100% equity in Shanghai Ruiyu Fitness Products Co., Ltd. for a cash consideration of 18 million yuan, with the transaction approved by the board on July 17, 2020[25] Research and Development - Research and development expenses decreased by 70.56% year-on-year, mainly due to the sale of subsidiaries and reduced R&D spending[19] - The R&D expenses for Q3 2020 were CNY 2,556,533.20, down from CNY 8,287,673.71 in the previous period[44] - Research and development expenses for the current period amount to CNY 924,157.12, down from CNY 1,178,783.61 in the previous period[48] Financial Adjustments and Standards - The company has made adjustments to its accounting policies in accordance with the new revenue standards effective from January 1, 2020[76] - The implementation of the new revenue standard resulted in a decrease of CNY 2,661,115.85 in prepaid expenses and an increase of the same amount in contract assets[77] - Contract liabilities increased by CNY 6,911,643.74 due to the new revenue standard, reflecting a shift from advance receipts[77]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥236,869,822.93, a decrease of 32.66% compared to ¥351,776,093.41 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was a loss of ¥11,084,714.60, an improvement of 55.84% from a loss of ¥25,102,871.04 in the previous year[16]. - The net cash flow from operating activities was ¥63,182,512.21, down 32.04% from ¥92,965,152.58 in the same period last year[16]. - The total assets at the end of the reporting period were ¥999,998,951.03, a decrease of 11.86% from ¥1,134,527,481.31 at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company were ¥866,453,227.39, down 1.12% from ¥876,231,983.53 at the end of the previous year[16]. - The basic earnings per share were -¥0.0138, an improvement of 55.77% from -¥0.0312 in the same period last year[16]. - The total profit was -4.51 million yuan, an increase of 83.42% year-on-year, while the net profit was -4.47 million yuan, increasing by 83.60% year-on-year[48]. - The company reported a net profit loss of 541,446.38 yuan for the first half of 2020, with total assets of 138,071,670.02 yuan and net assets of 126,278,999.51 yuan[77]. - The company reported a net loss of CNY 1,322,531,875.98 as of June 30, 2020, compared to a loss of CNY 1,311,447,161.38 at the end of 2019[138]. - The company reported a comprehensive income loss of 25,156,888.26 yuan for the current period[166]. Cash Flow and Investments - The net cash flow from investment activities increased significantly by 283.36% to ¥14,493,748.52, compared to a negative cash flow of ¥13,768,345.33 in the previous year, due to effective utilization of idle funds for bank wealth management[51]. - The net cash flow from operating activities decreased by 32.04% to ¥63,182,512.21 from ¥92,965,152.58, indicating a decline in operational income[51]. - The net cash flow from investing activities was CNY 36,704,511.89, a recovery from a negative cash flow of CNY -19,447,080.63 in the previous year[156]. - The total cash inflow from financing activities was CNY 30,000,000.00, while cash outflow was CNY 31,570,648.34, resulting in a net cash flow of CNY -1,570,648.34[156]. - The company raised 30,000,000.00 CNY through borrowings in the first half of 2020, compared to 20,000,000.00 CNY in the same period of 2019[153]. Assets and Liabilities - The company's total assets included cash and cash equivalents of ¥162,652,368.6, representing 16.27% of total assets, an increase from 8.03% in the previous year[56]. - The company's long-term equity investments decreased to ¥110,721,103.2, accounting for 11.07% of total assets, compared to ¥125,118,004.95, which was 11.03% of total assets last year[57]. - The total liabilities at the end of the reporting period were 14,726 million yuan, indicating the company's leverage position[162]. - The company's total liabilities increased to CNY 195,300,963.52 from CNY 142,188,875.52, reflecting a rise of 37.4%[142]. Research and Development - The company accelerated product research and development, resulting in 32 new patent applications and 2 new foreign certifications during the reporting period[46]. - Research and development expenses fell by 71.10% to ¥6,169,410.35 from ¥21,350,660.38, reflecting reduced investment in the wholly-owned subsidiary Anhui Jiugong[51]. - The company has accumulated over 380 patents and has established a strong research and development system in collaboration with several universities[40]. Strategic Initiatives - The company plans to accelerate new product development and optimize product structure to enhance brand influence and market share[79]. - The company aims to expand export regions and seek new international markets to mitigate risks from market competition[78]. - The company is focused on enhancing its market position through strategic asset restructuring and divestitures[108]. Shareholder Information - The company’s controlling shareholder, Rongjie Group, continued to increase its stake by acquiring 14.52 million shares, representing 1.81% of the total share capital[48]. - The total number of common shareholders at the end of the reporting period was 43,563[117]. - The largest shareholder, Rongjie Investment Holding Group Co., Ltd., holds 14.54% of shares, totaling 116,912,302 shares[118]. Corporate Governance - The company has not engaged in significant equity or non-equity investments during the reporting period[60]. - The company has not conducted any investor communications or interviews during the reporting period[81]. - The company has not experienced any major litigation or arbitration matters during the reporting period[90]. - The company has not implemented any employee incentive plans during the reporting period[94]. Market Conditions - The company faced risks from macroeconomic conditions, including reduced orders and difficulties in raw material imports due to global economic slowdown and trade tensions[78]. - The company experienced significant losses in Q1 2020 due to the COVID-19 pandemic, but performance improved in Q2 as measures were implemented[79]. Accounting Policies - The company adheres to the accounting standards and ensures that the financial statements accurately reflect its financial position as of June 30, 2020[176]. - The company uses the Chinese Yuan (RMB) as its functional currency for financial reporting[179]. - The company follows specific accounting policies for bad debt provisions, fixed asset depreciation, and revenue recognition based on its operational characteristics[175].

Financial Performance - Total revenue for Q1 2020 was ¥113,831,468.13, a decrease of 37.95% compared to the same period last year[7]. - Net profit attributable to shareholders was -¥15,407,677.21, an improvement of 24.33% year-over-year[7]. - The company reported a basic earnings per share of -¥0.0192, an improvement of 24.11% year-over-year[7]. - Net loss for Q1 2020 was CNY 13,210,677.54, compared to a net loss of CNY 21,864,997.64 in the same period last year, representing a 39.5% improvement[49]. - The total comprehensive income for the first quarter was -21,335,271.82 CNY, reflecting the same loss as the net profit[54]. Cash Flow and Assets - Net cash flow from operating activities decreased by 55.03% to ¥8,570,859.68 compared to the previous year[7]. - Cash and cash equivalents increased to CNY 108,780,564.21 from CNY 91,059,403.69, representing a growth of approximately 19.5%[39]. - The cash flow from operating activities showed a net inflow of 8,570,859.68 CNY, a decrease from 19,060,850.33 CNY in the previous year[57]. - The company recorded a cash and cash equivalents balance of 108,780,564.21 CNY at the end of the quarter, down from 121,261,056.80 CNY at the end of the previous year[58]. - The total cash and cash equivalents at the end of the period increased to 60,869,169.10 CNY from 53,910,395.63 CNY, reflecting a net increase of 6,958,773.47 CNY[61]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 49,501[10]. - The largest shareholder, Rongjie Investment Holding Group Co., Ltd., held 13.25% of the shares, totaling 106,573,302 shares[10]. - The total net assets attributable to shareholders were ¥860,399,064.37, a decrease of 1.81% from the previous year[7]. Liabilities and Equity - Total liabilities decreased to CNY 170,098,413.85 from CNY 244,007,113.84, reflecting a reduction of about 30.2%[41]. - The company's equity attributable to shareholders decreased to CNY 860,399,064.37 from CNY 876,231,983.53, a decline of approximately 1.8%[42]. - The total equity decreased to CNY 951,368,933.89 from CNY 972,704,205.71 year-over-year[48]. Operational Challenges - The company faced risks from a slowing macroeconomic environment and the global spread of COVID-19, which could lead to reduced or lost orders[24]. - The company is actively managing the impact of the COVID-19 pandemic on its operations by enhancing communication with suppliers and customers[25]. - The company reported a significant market pressure due to the pandemic and economic downturn, affecting business operations[25]. Strategic Initiatives - The company plans to continue enhancing profitability and improving fundamentals by developing new products and markets, and exploring new business growth points[24]. - The company aims to enhance new product development and business expansion despite facing challenges such as talent shortages and slow R&D progress[25]. - The company is focused on optimizing product structure and reducing production costs to improve overall competitiveness[25]. Accounting Changes - The company implemented new revenue and leasing standards starting January 1, 2020, affecting the financial statements[62]. - The company implemented new revenue recognition standards effective January 1, 2020, impacting the balance sheet by reclassifying prepayments and contract liabilities[70]. - The total assets and liabilities as of January 1, 2020, were adjusted according to the new revenue recognition standards, affecting various balance sheet items[70]. Investment and Fundraising - The total amount of raised funds is 448 million RMB, with 388.47 thousand RMB invested in the current quarter[30]. - Cumulative investment from raised funds amounts to 429 million RMB, with 11.16% of funds having been repurposed[30]. - The company received 184,900,000.00 CNY from the recovery of investments, an increase from 113,000,000.00 CNY in the previous year[57].