Financial Performance - The company's revenue for Q3 2021 was CNY 410,316,806.46, representing a 35.64% increase year-over-year, while the year-to-date revenue reached CNY 1,040,262,144.08, up 33.60% compared to the same period last year[3]. - The net profit attributable to shareholders for Q3 2021 was CNY 17,060,332.44, a decrease of 32.88% year-over-year, and the year-to-date net profit was CNY 19,544,111.80, down 58.94% compared to the previous year[3]. - The company’s basic earnings per share for Q3 2021 were CNY 0.0928, down 33.33% year-over-year[3]. - Total operating revenue for Q3 2021 reached ¥1,040,262,144.08, an increase of 33.5% compared to ¥778,653,474.46 in the same period last year[24]. - Net profit for Q3 2021 was ¥22,726,130.49, a decrease of 57.5% from ¥53,393,344.24 in Q3 2020[25]. - Earnings per share (EPS) for Q3 2021 was ¥0.1063, down from ¥0.2607 in the previous year[26]. - The company reported a decrease in comprehensive income to ¥24,022,115.92 in Q3 2021 from ¥50,870,781.10 in the previous year, a decline of 52.8%[25]. Cash Flow and Operating Activities - The company's cash flow from operating activities showed a net outflow of CNY 52,974,782.67 year-to-date, marking a significant decline of 852.84%[3]. - Total cash inflow from operating activities was 1,184,839,219.44 CNY, compared to 813,670,564.17 CNY in the previous period, representing an increase of approximately 45.5%[27]. - Cash outflow from operating activities totaled 1,237,814,002.11 CNY, up from 806,633,934.43 CNY, indicating a rise of about 53.4%[27]. - Cash received from other operating activities surged by 259.67% to ¥90,230,969.32, attributed to increased payments from paper and other material trade[10]. - Cash received from sales of goods and services was 1,011,082,856.10 CNY, an increase from 729,388,185.95 CNY, reflecting a growth of approximately 38.7%[27]. - Cash paid for purchasing goods and services increased by 53.54% to ¥772,033,896.98, mainly due to higher procurement of raw materials and finished products[10]. - Cash paid to employees rose by 44.62% to ¥234,032,943.33, reflecting higher wages and increased labor insurance and benefits costs[10]. - Cash paid for other operating activities increased by 67.68% to ¥214,622,238.31, driven by higher payments in paper and material trade[10]. Assets and Liabilities - Total assets as of September 30, 2021, were CNY 1,510,268,407.07, reflecting a 7.97% increase from the end of the previous year[3]. - Current assets decreased to CNY 853,081,595.58 from CNY 897,325,956.85, indicating a decline of about 5%[21]. - The total liabilities increased to CNY 853,081,595.58, compared to the previous period, indicating a rise in financial obligations[21]. - The company reported a significant increase in fixed assets, which rose to CNY 387,189,295.10 from CNY 325,398,289.06, an increase of approximately 19%[21]. - The company's short-term borrowings rose by 31.46% to CNY 315,712,987.15, attributed to increased bank loans[8]. - The total liabilities increased to ¥778,113,234.34 in Q3 2021 from ¥667,502,847.67 in Q3 2020, reflecting a growth of 16.6%[24]. Operating Costs and Expenses - The company reported a 41.84% increase in operating costs, totaling CNY 782,522,698.03, due to rising raw material prices and increased shipping costs for cross-border e-commerce[9]. - Sales expenses increased by 65.18% year-over-year to CNY 63,264,649.82, driven by higher advertising and platform service fees related to cross-border e-commerce[9]. - Total operating costs for Q3 2021 were ¥1,018,699,101.62, up 40.4% from ¥725,936,826.07 year-over-year[24]. - Research and development expenses for Q3 2021 amounted to ¥44,027,907.22, an increase of 20% compared to ¥36,714,503.73 in Q3 2020[24]. - The financial expenses for Q3 2021 were ¥15,754,490.88, which is a significant increase from ¥7,793,660.87 in Q3 2020[24]. Strategic Focus - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[18].

Financial Performance - The company reported a revenue of RMB 300 million for the first half of 2021, representing a year-on-year increase of 15%[14]. - The net profit attributable to shareholders was RMB 50 million, up 20% compared to the same period last year[14]. - The company's operating revenue for the first half of 2021 was ¥629,945,337.62, an increase of 32.30% compared to ¥476,139,494.08 in the same period last year[20]. - The net profit attributable to shareholders was ¥2,483,779.36, a decrease of 88.80% from ¥22,180,210.57 in the previous year[20]. - The gross profit margin for the first half of 2021 was 23.95%, down 3.14% from the previous year[27]. - The total expenses for the first half of 2021 were ¥14,810.98 million, an increase of 43.86% compared to the previous year, primarily due to rising costs in cross-border e-commerce[28]. - The company reported a significant increase in sales expenses, which surged by 80.92% to ¥40,292,347.37, mainly due to higher costs in cross-border e-commerce[51]. - The company reported a net profit of 2,067,000 RMB for the first half of 2021, compared to a loss of 1,342,000 RMB in the same period of 2020, indicating a significant recovery[193]. - The total comprehensive income for the period was reported at 25,652,000 RMB, compared to 22,180,000 RMB in the previous year, representing an increase of approximately 11.1%[194]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% growth in that region by the end of 2022[14]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach[14]. - The company is actively developing new product categories and expanding into both domestic and international markets[38]. - The company is focusing on integrating industry resources and enhancing its supply chain system to improve responsiveness to customer orders and support new product line development[49]. - The company is pursuing a strategy of developing new product categories and increasing the added value of its designs to enhance competitiveness[89]. - The company plans to enhance its product development and innovation capabilities to meet market demands and address risks related to talent shortages[87]. Research and Development - The company is investing RMB 20 million in new product development, focusing on innovative sports equipment[14]. - The company has a strong focus on R&D, with a dedicated design team in both China and the USA, enabling rapid product development and market responsiveness[32]. - The company invested 28.6486 million yuan in R&D in the first half of 2021, accounting for 4.55% of its revenue[46]. - Research and development investment rose by 21.43% to ¥28,648,636.46, reflecting the company's commitment to enhancing innovation[51]. - The company aims to enhance its research and development efforts to innovate and improve its product offerings[193]. Financial Health and Liabilities - The net cash flow from operating activities was -¥70,346,783.11, a decline of 453.48% compared to -¥12,709,816.08 in the same period last year[20]. - The total assets at the end of the reporting period were ¥1,562,725,505.11, an increase of 11.72% from ¥1,398,743,532.57 at the end of the previous year[20]. - The total liabilities increased to CNY 850,574,302.79 from CNY 667,502,847.67, which is an increase of approximately 27.4%[170]. - The company's total equity decreased to CNY 657,186,780.38 from CNY 675,258,344.12, a reduction of 2.5%[175]. - The total liabilities of the company were reported at 40,646,000 RMB, which is a decrease from 52,673,000 RMB in the previous year, indicating improved financial health[194]. Shareholder Information and Stock Options - No cash dividends or stock bonuses will be distributed to shareholders for this period[5]. - The company granted 2.5504 million stock options and 2.5504 million restricted shares to 160 eligible incentive recipients, with an exercise price of 9.66 CNY per share and a grant price of 4.83 CNY per share[101]. - The first lock-up period for the restricted shares granted in the incentive plan ended, allowing 158 recipients to unlock 1,004,640 shares, representing 0.5493% of the total share capital of 182,892,800 shares[104]. - The company completed the procedures for the cancellation of stock options and restricted stock as approved in the board meetings held on April 14 and May 6, 2021[106]. - The company’s stock incentive plan is designed to align employee interests with shareholder value, with specific conditions for share release[147]. Compliance and Risk Management - The management highlighted the importance of risk management strategies in facing market uncertainties[4]. - The company is implementing a foreign exchange hedging management system to mitigate risks associated with currency fluctuations[85]. - The company has not faced any administrative penalties for environmental issues during the reporting period and has complied with various environmental protection laws[109]. - The company has achieved ISO 14001:2015 environmental management system certification and ensures compliance with wastewater and air emission standards[110]. Subsidiary Performance - The subsidiary, RITFIT, facilitated a total of 147,470 orders, generating sales of 7.9975 million USD through Amazon, a 108.91% increase year-on-year[43]. - The subsidiary, PAPERAGE, achieved 296,221 orders with sales of 4.0650 million USD through Amazon, marking a 151.19% increase compared to the previous year[44]. - The subsidiary Vietnam Chuangyuan reported a net profit of RMB 3,683,041.39 with total assets of RMB 153,300,222[82]. - The subsidiary Rui Te Fei generated a net profit of RMB 2,453,984.12 with total assets of RMB 18,522,551.9[82]. - The subsidiary He Yuan Textile reported a net profit of RMB 2,430,027.85 with total assets of RMB 78,149,538[82].

Financial Performance - Total revenue for 2020 was CNY 1,086.51 million, an increase of 16.60% compared to the previous year[4]. - Total operating costs for 2020 were CNY 1,027.10 million, an increase of 23.95% year-on-year[4]. - Net profit attributable to shareholders was CNY 51.83 million, a decrease of 56.07% compared to the previous year[4]. - The company's operating revenue for 2020 was approximately ¥1.09 billion, representing a 16.60% increase compared to ¥931.86 million in 2019[23]. - The net profit attributable to shareholders decreased by 56.07% to ¥51.83 million in 2020 from ¥117.97 million in 2019[23]. - The net profit after deducting non-recurring gains and losses was ¥36.35 million, down 60.51% from ¥92.05 million in the previous year[23]. - The net cash flow from operating activities was negative at -¥21.69 million, a decline of 116.92% compared to ¥128.15 million in 2019[23]. - Basic earnings per share fell by 55.38% to ¥0.29 in 2020 from ¥0.65 in 2019[23]. - The gross profit margin decreased by 5.27% compared to the previous year, now standing at 29.86%[71]. - The company reported a significant rise in inventory levels, with a 35.31% increase compared to the previous year[72]. Impact of COVID-19 - The revenue from traditional high-margin cultural and educational leisure products decreased by 21% due to the impact of the pandemic[4]. - The company's net profit attributable to ordinary shareholders decreased by 56.07% to 51.83 million CNY, primarily due to the impact of the pandemic on overseas customer operations and increased transportation costs[57]. - The company incurred approximately CNY 14 million in increased transportation costs due to air freight for urgent pandemic-related supplies[5]. Research and Development - The company plans to enhance R&D investment and increase the share of new product categories and proprietary brands to drive revenue growth[7]. - The company's research and development expenses for 2020 amounted to 66.27 million CNY, accounting for 6.10% of operating revenue[53]. - The company has invested heavily in R&D, establishing design centers in both China and the U.S. to meet diverse customer needs[36]. - The company has initiated various R&D projects, including the development of antibacterial storage products and multifunctional components, to improve product innovation and market appeal[84]. Market Strategy and Expansion - The company aims to strengthen domestic market promotion and improve overall competitiveness through collaboration with industry partners[7]. - The company focuses on high-end educational supplies, primarily targeting the North American and parts of the European markets[35]. - The company is actively exploring strategic investments in high-quality assets in the fashion and leisure products sector through its Singapore subsidiary[41]. - The company is developing new product categories in the home goods sector and expanding its e-commerce channels to capture market opportunities[122]. - The company aims to enhance its online presence and improve website traffic and conversion rates to increase sales proportion from its official website[121]. Supply Chain and Production - The company has established production bases in Ningbo and Anhui, and a procurement center in Vietnam to enhance its supply chain[35]. - The company has implemented a flexible production model, allowing for rapid prototyping and customization, with a turnaround time of approximately ten days for samples[38]. - The company has established a dedicated supply chain management department to optimize procurement and enhance supply chain efficiency[61]. - The company has improved logistics efficiency and reduced logistics costs by setting up multiple warehousing locations across the U.S.[40]. Profit Distribution and Shareholder Returns - The profit distribution plan includes a cash dividend of CNY 1.5 per 10 shares for all shareholders[8]. - The total cash dividend for 2020 accounted for 100% of the profit distribution amount[134]. - The total distributable profit available for shareholders as of December 31, 2020, was RMB 168,843,292.81[136]. - The company reported a cash dividend of RMB 1.50 per 10 shares, totaling RMB 27,325,101.00 for the year 2020, which represents 100% of the distributable profit[134]. Financial Management and Governance - The company has maintained a robust financial policy, ensuring asset and fund safety without any fund occupation by major shareholders[194]. - The company has committed to ethical practices and corporate governance, ensuring fair information disclosure to all shareholders[194]. - The company emphasizes the importance of adhering to fair and transparent decision-making processes in related party transactions[146]. - The company will publicly disclose any failures to meet commitments and provide compensation for investor losses as required by law[149]. Employee Development and Corporate Culture - The overall number of employees with professional titles increased by 30%, reflecting the company's commitment to talent development[61]. - The company emphasizes employee development and adheres to labor laws, providing necessary welfare benefits[195]. - The company aims to enhance management levels, improve cost control, and implement a competitive compensation system to boost employee motivation and operational efficiency[148]. Environmental and Social Responsibility - The company adheres to environmental protection laws and has not experienced any environmental accidents during the reporting period[197]. - The company has actively engaged in social responsibility, including donations for pandemic prevention efforts[195]. - The company has implemented ISO 14001:2015 environmental management system certification and ensures compliance with wastewater and air emission standards[197].

Financial Performance - The company's operating revenue for the reporting period was ¥476,139,494.08, representing a 9.51% increase compared to ¥434,795,136.43 in the same period last year[19]. - The net profit attributable to shareholders decreased by 54.62% to ¥22,180,210.57 from ¥48,876,424.42 year-on-year[19]. - The net profit after deducting non-recurring gains and losses fell by 65.72% to ¥14,209,474.13 compared to ¥41,454,630.91 in the previous year[19]. - The net cash flow from operating activities was negative at -¥12,709,816.08, a decline of 147.08% from ¥26,994,428.72 in the same period last year[19]. - The total assets at the end of the reporting period were ¥1,115,576,546.09, down 1.20% from ¥1,129,107,737.92 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 4.39% to ¥685,214,364.97 from ¥716,667,355.43 at the end of the previous year[19]. - Operating profit decreased by 45.07% to CNY 30.54 million, while total profit fell by 45.57% to CNY 31.91 million[53]. - The company reported a net profit decrease for Anhui Chuangyuan due to reduced sales and increased fixed costs from expansion[88]. - The net profit for Kuaibang Investment increased due to gains from the disposal of real estate[88]. - The net profit for American Zhiyuan decreased due to high fixed costs not being covered by sales during the early growth phase[88]. - The net profit for Ruitefei and American Ruitefei increased significantly due to higher online sales driven by the pandemic[88]. Cash Flow and Assets - The net cash flow from operating activities for the first half of 2020 was ¥22,041,239.25, an increase from ¥20,246,535.51 in the same period of 2019, reflecting a growth of approximately 8.9%[184]. - The net cash flow from investing activities was negative at -¥2,718,745.68, improving from -¥64,950,290.08 year-over-year[184]. - Cash inflow from financing activities totaled ¥122,796,000.00, compared to ¥134,550,500.00 in the previous year, indicating a decrease of about 8.5%[184]. - The total cash and cash equivalents at the end of the period stood at ¥172,741,183.09, down from ¥188,472,526.17 at the beginning of the year[184]. - The company's total assets as of June 30, 2020, amounted to CNY 1,115,576,546.09, a decrease from CNY 1,129,107,737.92 at the end of 2019[163][166]. - The company's total liabilities increased to CNY 425,548,771.16 from CNY 408,971,635.97 at the end of 2019, indicating a rise in financial obligations[165][166]. - Current assets decreased to CNY 754,022,956.14 from CNY 777,483,679.75, reflecting a decline in liquidity[164]. - Cash and cash equivalents were reported at CNY 250,265,817.25, down from CNY 268,486,477.52[163]. - Accounts receivable slightly decreased to CNY 176,955,391.95 from CNY 178,210,442.03, showing stable collection performance[163]. - Inventory increased to CNY 125,776,001.72 from CNY 99,514,266.94, indicating potential growth in production or sales[163]. Investments and Subsidiaries - The company has multiple wholly-owned subsidiaries, including Anhui Chuangyuan and RITFIT LLC[10]. - The company has established a production base in Vietnam and a trade center in Hong Kong to enhance its international supply chain[27]. - The company has established long-term partnerships with major clients, such as NetEase Cloud Music, for ODM development[32]. - The company has expanded its subsidiary base by 2 compared to the previous period, indicating growth in its operational structure[200]. - The company established a wholly-owned subsidiary, Chuangyuan Industrial Park Management Co., Ltd., to implement its development strategy, with the investment agreement signed and registration completed on March 3, 2020[131]. Research and Development - The company is investing in research and development to transition from a trading company to a technology-driven enterprise[31]. - Research and development expenditures for 2018, 2019, and the first half of 2020 were $5.42 million, $5.85 million, and $2.36 million, representing 6.77%, 6.27%, and 4.95% of revenue respectively[44]. - The company holds a total of 285 patents, including 21 invention patents, 200 utility model patents, and 64 design patents as of mid-2020[44]. - R&D investment amounted to CNY 23.59 million, representing 4.95% of operating revenue, with a focus on product design and market trends[53]. - The company plans to enhance its product research and development capabilities by developing new craft materials and improving processing methods through innovation and mechanization[93]. Market Strategy and Expansion - The company is focusing on high-end educational supplies, primarily targeting the North American and parts of the European markets[27]. - The company is focusing on expanding its overseas market presence, targeting over 40 countries and regions including the US, Europe, and Australia[36]. - The company is actively developing new product lines, including health and fitness products, to meet market demand[32]. - The company has implemented a modern production management system to enhance production efficiency and product quality[29]. - The company is exploring strategic investments in quality assets within the fashion and cultural leisure products sector[34]. Shareholder and Equity Information - The company reported a profit distribution to shareholders amounting to 36.00 million yuan, reflecting a significant reduction[189]. - The total owner's equity at the end of the period was 1,278.00 million yuan, with a decrease of 120.39 million yuan during the period[189]. - The company has not distributed cash dividends or bonus shares for the first half of 2020, opting to retain earnings for reinvestment[99]. - The company approved a total guarantee amount of 35,000 for subsidiaries, with an actual guarantee balance of 5,800 at the end of the reporting period, representing 8.46% of the company's net assets[121]. - The company has implemented a 75% lock-up on shares for senior management during their tenure, affecting multiple shareholders[140]. Risks and Challenges - The company has identified a risk related to the inability to meet long-term talent needs for rapid development and is prioritizing human resource planning and talent acquisition[91]. - The company has faced challenges due to macroeconomic uncertainties and trade tensions, prompting a focus on product development and quality control[90]. - The company has reported that raw material price fluctuations significantly impact its operating costs, with a focus on strategic procurement to mitigate these risks[94]. - The company experienced foreign exchange gains and losses of -15.737 million yuan in the first half of 2020, which accounted for -4.93% of the total profit for that period[90]. Compliance and Governance - The semi-annual financial report was not audited, which may affect the reliability of the financial data presented[161]. - There were no major litigation or arbitration matters during the reporting period[104]. - The company had no penalties or rectification situations during the reporting period[105]. - The integrity status of the company and its controlling shareholders was good, with no unfulfilled court judgments or significant debts due[106]. - The company has not encountered any issues in the use and disclosure of raised funds[77].

Financial Performance - Total revenue for the first quarter was ¥126,108,081.96, a decrease of 25.83% compared to ¥170,030,587.16 in the same period last year[7] - Net profit attributable to shareholders was -¥9,849,397.19, representing a decline of 210.33% from ¥8,927,070.16 year-on-year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was -¥15,033,044.03, a decrease of 404.71% compared to ¥4,933,527.14 in the previous year[7] - Basic and diluted earnings per share were both -¥0.05, a decrease of 171.43% from ¥0.07 in the previous year[7] - The company's net profit increased, leading to a 32.15% rise in undistributed profits to ¥218,467,278.00 from ¥165,317,985.68[19] - The net profit for the first quarter of 2020 was -1,222,779.96 CNY, compared to a net profit of 6,391,034.78 CNY in the same period last year, indicating a significant decline[50] - The company reported a comprehensive income total of CNY -8,775,677.49 for Q1 2020, down from CNY 8,759,978.18 in the previous year[47] Cash Flow and Liquidity - Operating cash flow for the period was ¥1,074,524.63, down 52.74% from ¥2,273,521.81 in the same quarter last year[7] - Cash received from other operating activities decreased by 35.01% to 58.21 million yuan, mainly due to a reduction in receivables[20] - Cash flow from the disposal of fixed assets increased significantly by 1415.15% to 50 million yuan, attributed to real estate disposals[20] - The company raised 101,966,000.00 CNY through borrowings, compared to 65,850,500.00 CNY in the same period last year[55] - The net cash flow from investment activities was -37,845,990.95 CNY, compared to -55,291,831.38 CNY in the previous year, indicating an improvement of approximately 31%[58] - The net cash flow from financing activities increased significantly to 68,409,396.32 CNY, up from 3,925,524.59 CNY, representing a growth of over 1,600%[58] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,144,908,756.61, an increase of 1.40% from ¥1,129,107,737.92 at the end of the previous year[7] - Net assets attributable to shareholders decreased by 1.24% to ¥707,760,728.76 from ¥716,667,355.43 at the end of the previous year[7] - Total liabilities reached CNY 433,548,332.16, compared to CNY 408,971,635.97, showing an increase of approximately 6%[38] - The company's equity attributable to shareholders decreased to CNY 707,760,728.76 from CNY 716,667,355.43, a decline of about 1.3%[39] - Current assets totaled CNY 795,260,571.35, up from CNY 777,483,679.75, indicating an increase of about 2.5%[36] Operational Expenses - Total operating costs decreased to CNY 141,125,017.66 from CNY 163,875,176.18, with operating costs specifically down to CNY 91,002,338.32 from CNY 108,194,782.21[45] - Management expenses increased by 35.94% to ¥27,666,708.77 from ¥20,352,576.76, primarily due to rising personnel costs[19] - Financial expenses decreased significantly by 89.36% to ¥893,978.40 from ¥8,404,466.49, mainly due to reduced foreign exchange losses[19] Investments and Future Plans - The company plans to invest approximately 500 million yuan in a new industrial park in Anhui, with an initial investment of 180 million yuan[26] - The investment in the subsidiary in Singapore will increase by 8 million USD, aimed at supporting its operations in Vietnam[27] - The company aims to expand its market presence by shifting focus from export to domestic markets and developing cross-border e-commerce[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,241[11] - The total number of restricted shares at the end of the reporting period was 80,245,900, with 2,376,375 shares released during the period[16] Compliance and Standards - The company implemented new revenue and leasing standards starting January 1, 2020, affecting the classification of contract liabilities[59] - The company has no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[28] - There are no significant changes in project feasibility reported[31] - The company has no violations regarding external guarantees during the reporting period[32] - The first quarter report for 2020 was not audited[65]

Financial Performance - The company's operating revenue for Q1 2021 was ¥254,663,413.23, representing a 101.94% increase compared to ¥126,108,081.96 in the same period last year[7]. - The net profit attributable to shareholders was ¥2,722,501.81, a significant recovery from a loss of ¥9,849,397.19 in the previous year[7]. - The basic earnings per share for the period was ¥0.0148, recovering from a loss of ¥0.05 per share in the previous year[7]. - The company's operating revenue for Q1 2021 reached ¥254.66 million, a year-on-year increase of 101.94% due to increased orders in traditional business and growth in the sports and paper trading sectors[22]. - The net profit attributable to the parent company was ¥2.72 million, an increase of ¥12.57 million compared to the same period last year[25]. - The company reported a significant increase in contract liabilities, reaching ¥31.82 million, a rise of 874.39% due to customer prepayments[21]. - The company reported a profit before tax of CNY 5,965,299.23, recovering from a loss of CNY 9,189,668.44 in the same period last year[52]. - The total comprehensive income for the first quarter was CNY 5,173,405.17, compared to a loss of CNY 8,775,677.49 in the previous year[53]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥81,578,089.24, a decrease of 7,692.02% compared to ¥1,074,524.63 in the same period last year[7]. - Cash received from sales of goods and services was ¥251.30 million, up 27.36% year-on-year, driven by increased sales and improved collections[24]. - Cash flow from operating activities was CNY 251,303,277.08, an increase from CNY 197,311,601.19 in the previous period[59]. - The company's cash and cash equivalents decreased from CNY 271,476,338.89 on December 31, 2020, to CNY 253,254,639.28 on March 31, 2021, representing a decline of approximately 6.5%[42]. - The ending balance of cash and cash equivalents was CNY 215.28 million, down from CNY 324.63 million at the end of the previous year[61]. - The company reported a net cash decrease of CNY 11.57 million for the period, contrasting with an increase of CNY 67.12 million in the previous year[61]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,470,200,003.39, an increase of 5.11% from ¥1,398,743,532.57 at the end of the previous year[7]. - The total liabilities included long-term borrowings of ¥70.64 million, indicating an increase in financing activities[21]. - The total liabilities increased to CNY 731,958,386.56 from CNY 667,502,847.67, marking an increase of about 9.6%[45]. - The total equity attributable to shareholders rose to CNY 714,295,072.89 from CNY 710,342,832.36, indicating a marginal increase of 0.4%[45]. - Accounts receivable increased by 160.85% to ¥275,709,603.94 due to sales growth and extended payment terms[20]. - Accounts payable increased by 59.04% to ¥118,221,188.08 driven by business growth and increased procurement[20]. Investments and Expenditures - Research and development expenses rose to ¥13.30 million, a 41.49% increase, reflecting higher investment in R&D[22]. - The company has invested in a production base in Vietnam to enhance its international market presence, particularly in Southeast Asia[34]. - The company has implemented strict budget management and cost control measures, resulting in savings on some fundraising expenditures[35]. - The company reported a decrease in inventory to CNY 62,435,473.53 from CNY 55,765,349.45, which is an increase of about 12.0% year-over-year[45]. Strategic Initiatives - The company aims for transformation and upgrading in 2021, focusing on digital innovation and management reforms[27]. - The company is developing new products and enhancing customer engagement through strategic partnerships and market data analysis[29]. - The company is addressing macroeconomic uncertainties and talent shortages by strengthening product development and management systems[30]. - The company has established a new management team to optimize organizational structure and improve operational efficiency[28]. - The company is focusing on enhancing its online presence and sales conversion rates through improved website traffic and social media marketing[28]. Shareholder Information - The total number of shareholders at the end of the reporting period was 9,779[11]. - The largest shareholder, Ningbo Beilun Helix Management Consulting Co., Ltd., held 30.71% of the shares, totaling 56,449,500 shares[11]. - The top five suppliers accounted for 52.46% of total procurement, up from 24.63% in the previous year, indicating a shift in supplier dynamics[25]. - The top five customers contributed ¥11.97 million in sales, representing 36.29% of total sales, compared to 37.71% in the previous year[26].

Financial Performance - Operating revenue for the reporting period was CNY 302,513,980.38, representing a year-on-year increase of 6.09%[7] - Net profit attributable to shareholders decreased by 45.60% to CNY 25,417,005.68 compared to the same period last year[7] - Basic earnings per share fell by 46.36% to CNY 0.1392[7] - The company reported a weighted average return on equity of 3.59%, down by 3.28% from the previous year[7] - The company's operating revenue for the current period is CNY 212,666,063.76, a decrease from CNY 270,567,745.40 in the previous period[41] - The net profit for the current period is CNY 19,624,757.74, down from CNY 44,972,007.00 in the previous period, representing a decline of approximately 56.4%[42] - The total comprehensive income attributable to the parent company is CNY 22,275,813.50, a decrease from CNY 47,748,107.73 in the previous period[42] - The company's operating profit for the current period is CNY 23,060,713.39, down from CNY 53,192,347.72 in the previous period[42] - The total comprehensive income for the current period is CNY 25,218,067.34, down from CNY 47,543,371.70 in the previous period[42] - The company's operating revenue for the third quarter was CNY 626,994,376.31, a decrease of 7.37% compared to CNY 676,939,389.37 in the same period last year[48] - The net profit attributable to the parent company was CNY 51,636,962.38, down 40.19% from CNY 86,245,319.95 in the previous year[50] - The total comprehensive income attributable to the parent company was CNY 45,293,277.52, a decrease of 53.69% from CNY 97,565,982.64 in the previous year[48] Assets and Liabilities - Total assets increased by 15.12% to CNY 1,299,843,811.71 compared to the end of the previous year[7] - The company's total assets as of September 30, 2020, amounted to CNY 1,056,281,059.92, compared to CNY 992,157,469.38 at the end of 2019, representing a growth of 6.5%[34] - The total liabilities increased to CNY 388,486,341.67 in Q3 2020 from CNY 324,208,598.88 in Q3 2019, marking a rise of 19.9%[34] - Current liabilities increased to CNY 565,668,398.46 from CNY 399,583,283.32, reflecting higher short-term borrowings and payables[30] - The company's total equity reached CNY 720,136,101.95, including CNY 228,316,675.19 in undistributed profits[62] - Total liabilities amounted to CNY 408,971,635.97, with current liabilities at CNY 399,583,283.32[62] Cash Flow - Net cash flow from operating activities dropped by 65.51% to CNY 19,746,445.82[7] - Cash flow from purchasing goods and services increased by 28.19% to CNY 502,814,925.59, driven by higher procurement[20] - Cash paid for operating activities rose by 52.96% to CNY 127,995,286.91, mainly due to growth in cross-border e-commerce[20] - The cash flow from operating activities was CNY 7,036,629.74, significantly lower than CNY 84,253,449.27 in the same period last year[53] - The net cash flow from operating activities for the current period is CNY 57,916,835.91, compared to CNY 60,661,544.14 in the previous period, reflecting a decrease of approximately 4%[55] - Total cash inflow from investment activities is CNY 648,741,459.06, while cash outflow is CNY 608,046,285.79, resulting in a net cash flow of CNY 40,695,173.27, a significant improvement from the previous period's negative cash flow of CNY -47,432,237.72[54] - The ending balance of cash and cash equivalents is CNY 291,180,376.26, up from CNY 194,281,375.84 in the previous period, indicating an increase of approximately 50%[54] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,265[10] - The largest shareholder, Ningbo Beilun Helix Management Consulting Co., Ltd., holds 30.86% of the shares[10] - The company did not engage in any repurchase transactions during the reporting period[12] Expenses - Sales expenses decreased by 22.24% to CNY 38,299,279.92 mainly due to the adjustment of freight costs to be included in the cost of sales[19] - Financial expenses increased by 226.01% to CNY 7,793,660.87 primarily due to increased exchange loss from currency fluctuations[19] - Research and development expenses for Q3 2020 were CNY 13,122,323.56, an increase of 31.1% compared to CNY 10,020,852.25 in Q3 2019[37] - Research and development expenses for the current period amount to CNY 11,584,675.38, slightly down from CNY 11,795,583.95 in the previous period[41] - The company reported a financial expense of CNY 4,842,094.95, compared to a financial income of CNY 9,481,819.22 in the previous period[41] Inventory and Receivables - Accounts receivable increased by 39.49% to ¥248,582,778.29 due to sales growth and extended payment terms[19] - Prepayments surged by 173.24% to ¥67,667,204.92 primarily due to increased advance payments and operational growth of the new Vietnam factory[19] - Inventory rose by 67.84% to ¥167,023,114.89 driven by raw material stocking and increased inventory for cross-border e-commerce[19] - The company's inventory increased to CNY 55,703,577.31 in Q3 2020 from CNY 42,888,096.64 in Q3 2019, reflecting a year-on-year increase of 29.9%[33] Other Income and Expenses - Non-operating income included government subsidies amounting to CNY 8,710,962.31[8] - Investment income dropped by 65.05% to ¥1,944,782.65 due to increased investment in fundraising projects[19] - The fair value change income was CNY 701,699.65, primarily due to gains from hedging activities[20] - Asset disposal income increased by 136.90% to CNY 4,398,888.00, mainly from real estate disposals[20] - Operating income rose by 400.14% to CNY 1,806,062.93, attributed to increased insurance claims received[20] - The company reported a decrease in other comprehensive income, with a net amount of CNY -3,377,622.67 in Q3 2020 compared to CNY 1,060,543.97 in Q3 2019[38]

Financial Performance - The company's operating revenue for Q1 2021 was ¥329,735,486.89, representing a 161.47% increase compared to ¥126,108,081.96 in the same period last year[7] - The net profit attributable to shareholders was ¥2,722,501.81, a significant recovery from a loss of ¥9,849,397.19 in the previous year[7] - The net profit after deducting non-recurring gains and losses was ¥534,808.50, improving from a loss of ¥15,033,044.03 year-over-year[7] - The basic earnings per share for the period was ¥0.0148, recovering from a loss of ¥0.05 in the same period last year[7] - The weighted average return on net assets was 0.38%, improving from -1.38% in the previous year[7] - The company reported a significant increase in intangible assets by 69.79% to ¥37,654,109.46 due to new land use rights acquisitions[20] - The company reported a net profit margin improvement, with net profit attributable to shareholders increasing to CNY 3,722,501.74 from CNY 1,000,000.00 in the previous period[50] - The total comprehensive income for the first quarter of 2021 was CNY 5,173,405.17, compared to a loss of CNY 8,775,677.49 in the previous year[52] Cash Flow and Liquidity - The net cash flow from operating activities was -¥81,578,089.24, a decline of 7,692.02% compared to ¥1,074,524.63 in the same period last year[7] - The company's cash flow from operating activities showed a significant increase, with cash paid for purchasing goods and services rising by 139.97% to CNY 272.79 million[22] - The company's cash and cash equivalents decreased to CNY 253,254,639.28 from CNY 271,476,338.89, representing a decline of about 6.5%[41] - Total cash and cash equivalents at the end of the period were CNY 215.28 million, down from CNY 324.63 million at the end of the previous year[60] - The company reported a net cash flow from operating activities of negative CNY 35.85 million for the parent company, compared to a positive CNY 37.53 million last year[62] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,471,398,935.61, an increase of 5.10% from ¥1,399,942,464.79 at the end of the previous year[7] - The net assets attributable to shareholders were ¥715,369,110.78, up 0.56% from ¥711,416,870.25 at the end of the previous year[7] - Total liabilities for notes payable increased by 152.88% to ¥137,060,739.10 due to business growth and increased bill settlements[20] - Total liabilities increased to CNY 732,113,696.49 from CNY 667,658,157.60 year-over-year[44] - The total liabilities to equity ratio was 0.99, indicating a balanced leverage position[44] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,779[11] - The total equity attributable to shareholders reached CNY 715,369,110.78, up from CNY 711,416,870.25 in the previous period[44] Operational Highlights - The company received government subsidies amounting to ¥2,602,367.36 during the reporting period[8] - The company aims to accelerate its transformation and upgrade its business model in 2021, focusing on "Digital Creation, Youth Creation, and Happiness Creation" as its core slogans[25] - The company is expanding its supply chain from domestic to East Asia and is forming a trade-oriented sales team to improve supply chain efficiency[26] - The company is focusing on developing its own brand and expanding new product categories to enhance customer persuasion[26] - The company has established a new management team to improve organizational structure and management capabilities[26] Research and Development - Research and development expenses rose by 41.49% to CNY 13.30 million, reflecting increased investment in R&D activities[21] - The company incurred research and development expenses of CNY 10,836,632.80 in the first quarter of 2021, compared to CNY 10,083,935.08 in the previous year[54] Market Dynamics - The proportion of purchases from the top five suppliers increased to 52.46% in Q1 2021 from 24.63% in Q1 2020, indicating a shift in supplier dynamics[23] - The sales revenue from the top five customers increased to ¥11,965.15 million in Q1 2021, up from ¥4,755.54 million in Q1 2020, accounting for 36.29% of total sales[24] Strategic Initiatives - The company has established a production base in Vietnam to enhance its international market presence, particularly in Southeast Asia[32] - The company has canceled the office building construction project to reallocate funds for working capital, reflecting a strategic shift in resource allocation[32] - The company is addressing risks related to macroeconomic uncertainties and talent shortages by strengthening product development and optimizing its management structure[28]

Financial Performance - Total revenue for 2020 reached CNY 1,313.41 million, an increase of 40.95% compared to the previous year[4] - Total operating costs for 2020 were CNY 1,258.02 million, up 51.82% year-on-year[4] - Net profit attributable to shareholders was CNY 49.04 million, a decrease of 58.43% from the previous year[4] - The company's operating revenue for 2020 was CNY 1,313,413,363.82, representing a 40.95% increase compared to CNY 931,859,495.51 in 2019[21] - The net profit attributable to shareholders for 2020 was CNY 49,038,331.45, a decrease of 58.43% from CNY 117,970,672.97 in 2019[21] - The net cash flow from operating activities was negative CNY 21,686,152.15, a decline of 116.92% compared to CNY 128,150,498.26 in 2019[21] - Basic earnings per share for 2020 were CNY 0.27, down 58.46% from CNY 0.65 in 2019[21] - The weighted average return on equity for 2020 was 6.71%, down from 17.54% in 2019[21] - The company reported a non-operating income of CNY 15,472,677.53 in 2020, a decrease of 40% compared to CNY 25,916,345.54 in 2019[28] - The gross profit margin for the overall business decreased by 12.74% year-on-year, primarily due to the adjustment of transportation costs to the main business cost[67] Market and Product Development - The revenue from traditional high-margin educational and leisure products decreased by 37% due to the impact of the pandemic[4] - The company plans to enhance R&D investment and increase the share of new product categories and proprietary brands to drive revenue growth[6] - The company expanded its product range from paper products to over 90 categories, including fashion stationery, sports fitness, and home living items[31] - The company focuses on high-end educational supplies, primarily targeting the North American and parts of the European markets[32] - The company has established a new subsidiary, Chuangyuan Sports, to support the supply chain for home fitness equipment, enhancing its product offerings[40] - The company is actively exploring strategic investments in high-quality assets in the fashion and leisure products sector through its Singapore subsidiary[38] - The company is focusing on the cultural consumption market, with products exported to over 20 countries, including the U.S., Europe, and Australia[42] - The company has expanded its overseas production capabilities in Vietnam, improving production capacity through the establishment of multiple production lines[39] - The company has implemented an intelligent manufacturing automation system to improve production efficiency and quality control[35] Research and Development - The company has invested significantly in R&D, establishing design centers in both China and the U.S. to meet diverse customer needs[32] - The company's research and development expenses for 2020 amounted to 67.23 million CNY, accounting for 5.12% of total revenue[50] - The number of R&D personnel increased to 432 in 2020, accounting for 18.80% of the workforce, up from 17.99% in 2019[80] - The company initiated multiple R&D projects, including antibacterial storage products and multifunctional components, to enhance product innovation and market competitiveness[79] - The company plans to continue focusing on R&D innovation to improve product design and technology, aiming to launch new products and enhance performance[80] Foreign Exchange and Risk Management - The company incurred a foreign exchange loss of CNY 13.67 million during the reporting period, compared to a foreign exchange gain of CNY 9.57 million in 2019[5] - The company aims to increase its foreign exchange hedging activities to mitigate risks associated with currency fluctuations[6] - The company plans to implement a foreign exchange hedging management system to mitigate risks from currency fluctuations[118] Shareholder and Dividend Information - A cash dividend of CNY 1.5 per 10 shares will be distributed to all shareholders, based on a total of 182,177,120 shares[7] - The total distributable profit available for shareholders as of December 31, 2020, was RMB 168,843,292.81[127] - The cash dividend amount for 2020, including other methods, was 45,603,983.00, accounting for 93.00% of the net profit attributable to ordinary shareholders[130] - The company reported a cash dividend of RMB 1.50 per 10 shares, totaling RMB 27,325,101.00, which represents 100% of the total profit distribution[125] - The company plans to distribute cash dividends of no less than 10% of the distributable profits each year, contingent on meeting cash dividend conditions[138] Operational Efficiency and Management - The company has improved internal efficiency by implementing SAP, CRM, SRM, and MES systems, enhancing supply chain processes[44] - The company has established a dedicated supply chain management department to enhance procurement efficiency and cost control[58] - The company aims to enhance its supplier management system and increase bargaining power through strategic centralized procurement[121] - The company will improve management levels and cost control, implementing a competitive compensation system to attract talent and enhance employee motivation[144] Corporate Governance and Compliance - The company has not experienced any major litigation or arbitration matters during the reporting period[157] - The company has not faced any penalties or rectification situations during the reporting period[158] - The company has a good integrity status, with no significant debts or court judgments unfulfilled during the reporting period[159] - The company has established a comprehensive profit distribution policy to enhance the protection of minority shareholders' rights[145] - The company has committed to avoiding any form of related party transactions or fund transfers that could harm its interests or those of minority shareholders[140] Social Responsibility and Community Engagement - The company donated RMB 50,000 to the Zhejiang Chamber of Commerce for epidemic prevention supplies, contributing to domestic and international pandemic response efforts[192] - The company has implemented environmental protection measures and has not experienced any environmental accidents during the reporting period[194] - The company adheres to labor laws and provides statutory benefits to eligible employees, including social insurance contributions[191] - The company has maintained a focus on social responsibility, emphasizing trust and respect within its community[190]

Financial Performance - Operating revenue for the reporting period reached ¥343,001,957.19, reflecting a growth of 20.29% year-on-year[7] - Net profit attributable to shareholders decreased by 45.60% to ¥25,417,005.68 compared to the same period last year[7] - The net profit after deducting non-recurring gains and losses was ¥19,580,163.14, down 51.13% year-on-year[7] - Basic earnings per share fell to ¥0.1392, a decrease of 46.36% compared to the same period last year[7] - The weighted average return on equity was 3.59%, down 3.28% from the previous year[7] - Cash flow from operating activities decreased significantly by 65.51% to ¥19,746,445.82[7] - The company reported a decrease in income tax expenses by 32.17% to CNY 13,424,887.24 due to a decline in total profit[20] - Net profit for Q3 2020 was CNY 28,595,690.01, down from CNY 46,482,827.73 in Q3 2019, representing a decrease of approximately 38.6%[39] - The net profit for the current period is CNY 53,393,344.24, down from CNY 95,156,732.45 in the previous period, indicating a decrease of about 43.9%[47] - The total comprehensive income for the current period is CNY 19,624,757.74, down from CNY 44,972,007.00 in the previous period, indicating a decrease of about 56.4%[44] Assets and Liabilities - Total assets increased to ¥1,299,843,811.71, a rise of 15.12% compared to the end of the previous year[7] - Current liabilities rose to CNY 565,668,398.46 from CNY 399,583,283.32, indicating increased short-term financial obligations[31] - The company's total liabilities increased to CNY 388,486,341.67 from CNY 324,208,598.88 year-on-year[35] - Total liabilities amounted to CNY 408,971,635.97, with current liabilities at CNY 399,583,283.32[62] - The company's total equity reached CNY 720,136,101.95, including CNY 182,550,400.00 in share capital and CNY 290,750,292.67 in capital reserve[63] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,265[11] - The largest shareholder, Ningbo Beilun Helix Management Consulting Co., Ltd., holds 30.86% of the shares[11] Cash Flow - Cash flow from purchasing goods and services increased by 30.63% to CNY 512,364,925.59, driven by higher procurement[20] - Cash paid for operating activities rose by 41.55% to CNY 118,445,286.91, attributed to growth in cross-border e-commerce[20] - The cash flow from operating activities for the current period is CNY 7,036,629.74, significantly lower than CNY 84,253,449.27 in the previous period[54] - The net cash flow from operating activities for the current period is CNY 57,916,835.91, compared to CNY 60,661,544.14 in the previous period, reflecting a decrease of approximately 4.5%[56] Expenses - Sales expenses for the first three quarters increased by 91.24% to ¥94,190,182.85 from ¥49,252,047.45, driven by growth in cross-border e-commerce and related shipping and advertising costs[19] - Financial expenses increased by 226.01% to ¥7,793,660.87 from a negative ¥6,184,848.56, primarily due to increased exchange rate losses[19] - Research and development expenses for Q3 2020 were CNY 13,122,323.56, up from CNY 10,020,852.25 in the previous year, indicating a focus on innovation[38] - The total operating costs for the current period amount to CNY 771,115,068.28, up from CNY 619,595,509.44 in the previous period, which is an increase of about 24.4%[45] Inventory and Receivables - Accounts receivable increased by 39.49% to ¥248,582,778.29 compared to ¥178,210,442.03 at the end of 2019, primarily due to sales growth and extended payment terms[19] - Prepayments surged by 173.24% to ¥67,667,204.92 from ¥24,764,617.60, mainly due to advance payments for goods and increased operations at the new Vietnam factory[19] - Inventory rose by 67.84% to ¥167,023,114.89 from ¥99,514,266.94, attributed to increased raw material stock and inventory for cross-border e-commerce[19] Investment and Other Income - Investment income decreased by 65.05% to CNY 1,944,782.65 due to increased project investments and reduced financial management income[20] - Fair value changes resulted in a gain of CNY 701,699.65 from hedging activities[20] - Asset disposal income increased by 136.90% to CNY 4,398,888.00 primarily from real estate disposals[20] - Operating income rose by 400.14% to CNY 1,806,062.93 due to increased insurance claims received[20] Other Financial Metrics - The company reported a significant increase in construction in progress by 1,388.30% to ¥25,358,905.41 from ¥1,703,886.19, due to increased investment in fundraising projects and the establishment of new subsidiaries[19] - Intangible assets rose by 46.69% to ¥33,204,891.04 from ¥22,636,098.83, mainly due to the acquisition of new subsidiaries[19] - Goodwill was reported at ¥35,681,912.45, attributed to the acquisition of new subsidiaries[19] - The company has reported a tax expense of CNY 13,424,887.24 for the current period, down from CNY 19,791,713.17 in the previous period, indicating a decrease of about 32.4%[47] - The company has not yet audited its third-quarter report, which may affect the reliability of the financial data presented[67]