证券代码：300729 证券简称：乐歌股份 编号：2022-002TZZ 乐歌人体工学科技股份有限公司 投资者调研接待记录表 | --- | --- | --- | |-------------------------|-----------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

证券代码：300729 证券简称：乐歌股份 乐歌人体工学科技股份有限公司 投资者调研接待记录表 编号：2022-005TZZ | --- | --- | --- | --- | |-----------------------|----------------------------------------------------------------------------------|----------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------| | 投资者关系活动 \n类别 | 特定对象调研 \n□媒体采访 \n 新闻发布会 \n□现场参观 \n 其他（请文字说明） | □分析师会议 \n□业绩说明会 \n□路演活动 \n 电话会议 | | | | | | 线上参会投资机构：昆仑健康、华富基金、兴证全球基金、平安基 ...

Revenue and Profitability - Revenue for Q3 2022 reached ¥763,700,178.73, an increase of 8.63% compared to the same period last year[5] - Net profit attributable to shareholders decreased by 29.57% to ¥27,877,861.93 in Q3 2022[5] - Net profit after deducting non-recurring gains and losses increased by 82.94% to ¥56,845,652.65[5] - In Q3 2022, the company achieved operating revenue of CNY 763,700,178.73, representing a year-on-year growth of 8.63%[14] - The net profit attributable to shareholders was CNY 27,877,861.93, a year-on-year decrease of 29.57%, while the net profit after deducting non-recurring items was CNY 56,845,652.65, showing a year-on-year increase of 82.94% and a quarter-on-quarter increase of 375.15%[14] - For the first three quarters of 2022, the company reported operating revenue of CNY 2,312,156,262.38, a year-on-year increase of 10.10%[14] - The net profit attributable to shareholders for the first three quarters was CNY 158,331,080.35, reflecting a year-on-year growth of 28.12%[14] - Operating profit for the third quarter of 2022 was ¥191,129,507.51, compared to ¥129,206,361.01 in the previous year, indicating a growth of 47.9%[26] - Net profit for Q3 2022 was CNY 158,334,523.25, an increase of 28.2% compared to CNY 123,470,760.67 in Q3 2021[27] - Total comprehensive income for Q3 2022 reached CNY 236,872,583.76, up from CNY 124,574,851.75 in the same period last year, representing a growth of 89.9%[27] Assets and Liabilities - Total assets as of September 30, 2022, amounted to ¥5,377,500,140.67, reflecting a growth of 33.37% from the end of the previous year[5] - The company's total assets as of September 30, 2022, amounted to ¥5,377,500,140.67, up from ¥4,032,067,491.90 at the beginning of the year, representing a growth of 33.3%[25] - Cash and cash equivalents increased to ¥1,668,674,850.27 from ¥1,505,340,709.57, marking an increase of 10.8%[25] - Short-term borrowings rose to ¥1,034,744,400.00 from ¥629,253,290.00, reflecting a significant increase of 64.3%[25] - The company's total liabilities increased to ¥3,257,115,863.93 from ¥2,126,704,436.96, a rise of 53.2%[25] Shareholder Information - The total number of common stock shareholders at the end of the reporting period was 12,292[10] - The largest shareholder, Ningbo Lijing Electronics Group Co., Ltd., held 23.03% of the shares, amounting to 50,914,906 shares[10] - The second-largest shareholder, Lijing (Hong Kong) International Co., Ltd., held 17.33% of the shares[10] - The company’s management, including Xiang Lehong and Jiang Yi, collectively controlled 53.11% of the shares through various entities[11] Financing Activities - The company completed the issuance and listing of convertible bonds, with 70 bonds converted into 142 shares during the reporting period[16] - The company raised a total of approximately CNY 299.99 million by issuing 18,050,541 shares at a price of CNY 16.62 per share[16] - The second employee stock ownership plan raised a total of CNY 53.44 million, with CNY 31.44 million from employees and CNY 22 million through financing[17] - The company executed a stock option incentive plan, with 383,084 shares exercised during the second exercise period[19] - The company issued 336,700 shares of restricted stock to 203 eligible participants under the 2021 restricted stock incentive plan[21] - The company has decided not to adjust the conversion price of the "Lege Convertible Bonds" despite triggering the downward adjustment clause[15] - The company plans to use the net proceeds from the stock issuance for projects in Vietnam and to supplement working capital[16] - The company has authorized the board to manage the second employee stock ownership plan and related matters[17] - The company has completed the cancellation of unexercised stock options from the 2020 stock option incentive plan[20] Cash Flow and Expenses - Cash flow from operating activities for the year-to-date decreased by 4.98% to ¥111,951,839.79[5] - Operating cash flow for the period was CNY 111,951,839.79, slightly down from CNY 117,818,432.75 in Q3 2021[29] - The company reported a net cash outflow from investing activities of CNY -545,337,460.56, worsening from CNY -278,960,036.69 in the previous year[29] - The total cash inflow from financing activities was CNY 1,669,173,773.59, compared to CNY 1,608,564,845.98 in Q3 2021, showing a growth of 3.8%[30] Research and Development - Research and development expenses for the third quarter of 2022 were ¥99,056,612.12, compared to ¥84,725,859.14 in the previous year, showing an increase of 16.9%[26] Strategic Planning - The company plans to expand overseas sales channels and focus on emerging markets to enhance brand premium and product pricing capabilities[14] - The company experienced significant improvement in profitability due to a sharp decline in shipping prices and a notable recovery in the USD to CNY exchange rate[14] - The company plans to continue expanding its market presence and invest in new product development to drive future growth[26] - The company is developing public overseas warehouses, transitioning from smaller warehouses to larger ones as part of its strategic planning[21]

Financial Performance - The company reported a revenue of 500 million RMB for the first half of 2022, representing a 15% increase compared to the same period in 2021[19]. - The company has set a revenue guidance of 1.2 billion RMB for the full year 2022, reflecting a growth target of 10%[19]. - The company's revenue for the first half of 2022 was ¥1,548,456,083.65, representing a 10.84% increase compared to ¥1,397,030,923.40 in the same period last year[25]. - Net profit attributable to shareholders increased by 55.30% to ¥130,453,218.42 from ¥84,002,744.30 year-on-year[25]. - The company achieved revenue of ¥1,548,456,083.65, representing a year-on-year growth of 10.84% despite high baseline and inflationary pressures in Europe and the US[40]. - The company reported a net profit of 4.44 million yuan for the reporting period, reflecting a significant increase compared to previous periods[124]. - The company reported a significant increase in income tax expenses, which rose by 200.27% to ¥26,785,451.67, mainly due to increased taxes from warehouse sales[88]. User Growth and Market Expansion - User data indicates that the active user base has grown to 1.2 million, up 20% year-over-year[19]. - Market expansion efforts include entering three new international markets, projected to increase overseas sales by 30%[19]. - The company is actively expanding overseas sales channels and focusing on emerging markets to enhance brand premium and pricing power[40]. - The company has accumulated 12 years of cross-border e-commerce operation experience, maintaining a competitive edge in overseas online sales[38]. Product Development and Innovation - New product launches include a line of ergonomic office furniture, expected to contribute an additional 100 million RMB in revenue by the end of 2022[19]. - The company is investing 50 million RMB in R&D for new technologies aimed at enhancing product functionality and user experience[19]. - R&D expenses increased by 18.94%, reflecting the company's commitment to developing new products and technologies[71]. - The main products include smart home and health office products, such as linear drive height-adjustable desks and smart electric beds, which are designed around ergonomic principles[41]. Financial Strategy and Investments - No cash dividends will be distributed for the current fiscal year, as the company focuses on reinvestment strategies[4]. - The company has completed a strategic acquisition of a local competitor for 200 million RMB, aimed at increasing market share[19]. - The net cash flow from operating activities was negative at -¥12,892,657.96, a decline of 139.73% compared to ¥32,447,332.10 in the previous year[25]. - The company has engaged in market expansion through partnerships with banks for various financial services, including online sales platforms[102]. Logistics and Supply Chain - The company has established a total of 15 overseas warehouses globally, covering an area of 277,700 square meters, including 7 core ports in the United States[55]. - The overseas warehouse project has served nearly 400 clients, enhancing the company's bargaining power with logistics partners like FEDEX and UPS[56]. - The overseas warehouse project has evolved into a multi-dimensional logistics supply chain management solution, providing end-to-end services from factory to consumer[66]. - The company is focusing on expanding its manufacturing capacity with ongoing projects in Beihai, Guangxi, and Vietnam, which will help increase production capacity[61]. Risk Management - The management has identified potential risks including supply chain disruptions and has outlined mitigation strategies in the report[3]. - External factors such as fluctuations in the RMB exchange rate and high shipping costs negatively impacted net profit by approximately 40%[40]. - The company is facing risks from international political and economic uncertainties, particularly affecting its export business, which is significantly reliant on the U.S. market[130]. - The company is actively monitoring exchange rate fluctuations due to its high export revenue, primarily denominated in USD, and is considering hedging strategies to mitigate risks[131]. Corporate Governance and Shareholder Relations - The company emphasizes communication with minority shareholders regarding profit distribution policies and decisions[162]. - The company has established a governance structure to protect shareholder rights, ensuring compliance with relevant laws and regulations[154]. - The company has committed to maintaining a stable and continuous profit distribution policy, particularly regarding cash dividends[163]. - The company will ensure that its subsidiaries do not engage in any business that competes with the issuer, taking full responsibility for any economic losses incurred[164]. Environmental and Social Responsibility - The company has established a charity fund of 40 million yuan for educational support, medical assistance, and poverty alleviation projects[158]. - The company is committed to sustainable development, utilizing bamboo for its products due to its superior carbon sequestration capabilities[157]. - The company has implemented a comprehensive training system, conducting over 300 training sessions in the first half of 2022, with total online learning hours exceeding 70,000[155]. - The company has built a 495 kW photovoltaic power station and a 5 kWh energy storage system to reduce carbon emissions[154].

Financial Performance - The company's revenue for Q1 2022 was ¥763,629,721.35, representing a 15.83% increase compared to ¥659,269,770.75 in the same period last year[3] - Net profit attributable to shareholders decreased by 43.64% to ¥18,014,978.73 from ¥31,962,259.95 year-on-year[3] - Basic earnings per share dropped by 55.56% to ¥0.08 from ¥0.18 in the same quarter last year[3] - Total operating revenue for the first quarter was CNY 763,629,721.35, an increase of 15.8% compared to CNY 659,269,770.75 in the previous year[24] - Net profit for the quarter was CNY 18,017,529.67, a decrease of 43.5% from CNY 31,915,499.11 in the previous year[25] - The company reported a gross profit margin of approximately 39.7% for the quarter, down from 42.0% in the previous year[25] Cash Flow - The net cash flow from operating activities was negative at ¥-15,710,545.86, a decline of 352.22% compared to ¥6,228,936.98 in the previous year[3] - Cash inflow from operating activities was CNY 797,310,439.88, compared to CNY 770,302,738.32 in the previous year[29] - Cash outflow from investing activities totaled CNY 428,202,022.23, significantly higher than CNY 147,971,644.39 in the previous year[30] - Net cash flow from investing activities was negative CNY 416,760,047.63, compared to negative CNY 105,844,622.48 in the previous year[30] - Cash inflow from financing activities was CNY 426,006,417.06, up from CNY 232,483,377.23 in the previous year[30] - Net cash flow from financing activities was CNY 186,376,442.08, an increase from CNY 29,683,891.20 in the previous year[30] - The ending balance of cash and cash equivalents was CNY 813,878,675.02, compared to CNY 363,692,466.83 at the end of the previous year[30] Assets and Liabilities - Total assets increased by 15.11% to ¥4,641,217,163.52 from ¥4,032,067,491.89 at the end of the previous year[3] - Total liabilities rose to CNY 2,721,662,956.53, compared to CNY 2,126,704,436.96 at the beginning of the year, marking an increase of 28.0%[22] - Long-term borrowings increased to CNY 462,861,008.00, up from CNY 287,930,264.57, indicating a rise of 60.7%[22] - The company’s total equity reached CNY 1,919,554,206.99, an increase from CNY 1,905,363,054.94 at the beginning of the year, reflecting a growth of 0.8%[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 11,121[10] - The top shareholder, Ningbo Lijing Electric Group Co., Ltd., held a 23.07% stake, amounting to 50,914,906 shares[11] - The company’s major shareholders control a combined 54.67% of the shares, indicating a strong alignment in management and ownership[12] - The company has a total of 46,496,782 restricted shares, with no new restrictions added during the reporting period[15] Operational Insights - The company increased investment in product R&D, automation processes, and information technology, which may lead to a gradual improvement in sustainable development capabilities[17] - The average shipping cost for a 40HQ container rose from approximately $6,000 in Q1 2021 to about $15,000 in Q1 2022, impacting cross-border e-commerce revenue by 14.45%[17] - The company plans to mitigate shipping costs by constructing an 1,800TEU container ship, expected to be delivered in Q1 2023, which will enhance inventory turnover and reduce delivery times[17] - The average exchange rate of the US dollar increased from 6.51 to 6.36, while the euro rose from 7.86 to 7.12, prompting the company to consider increasing foreign exchange hedging to manage risks[17] - The company’s self-owned brand awareness and market share have further improved, contributing to sales growth despite external challenges[16] - The company is focused on building independent sales channels and private traffic to enhance brand development[17] Research and Development - Research and development expenses were CNY 30,001,338.00, representing an increase of 11.0% compared to CNY 27,013,735.57 last year[25] Audit Status - The report for the first quarter was not audited[31]

Financial Performance - The company reported a total of ¥2,871,283,657.02 in operating revenue for 2021, representing a 47.95% increase compared to ¥1,940,664,262.01 in 2020[20]. - The net profit attributable to shareholders decreased by 14.93% to ¥184,676,666.65 in 2021 from ¥217,094,213.73 in 2020[20]. - The net profit after deducting non-recurring gains and losses was ¥109,356,500.91, down 40.81% from ¥184,740,280.50 in the previous year[20]. - The gross profit margin for the year was reported at 35%, reflecting a 5% increase compared to the previous year[17]. - The company achieved a revenue of ¥2,871,283,657.02, representing a year-on-year growth of 47.95%[67]. - The net profit attributable to shareholders was ¥184,676,666.65, a decrease of 14.93% compared to the previous year[67]. - The total revenue for 2021 reached ¥2,871,283,657.02, representing a year-on-year increase of 47.95% compared to ¥1,940,664,262.01 in 2020[86]. - The company reported a total of 16,029 million in revenue for the year 2021, an increase from 6,786 million in the previous year, indicating significant growth[166]. - The company reported a total of 7,109 million in net profit for 2021, reflecting a strong performance compared to previous years[166]. User Growth and Market Expansion - The company reported significant growth in user data, with a year-over-year increase of 30% in active users[17]. - User data showed an increase in active users, reaching 2 million by the end of 2021, up from 1.5 million in 2020, indicating a growth rate of 33.3%[152]. - Future outlook includes a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[17]. - Market expansion efforts include entering three new international markets, aiming for a 20% increase in overseas sales[17]. - The company plans to expand its market presence in Southeast Asia, targeting a market share increase of 10% within the next two years[152]. Research and Development - The company is investing in R&D for new ergonomic products, with an allocated budget of 50 million RMB for the upcoming year[17]. - R&D expenses increased by 53.4% during the reporting period, reflecting the company's commitment to innovation[67]. - The company has developed a comprehensive logistics supply chain management solution for cross-border e-commerce, enhancing its service offerings[63]. - The company is focusing on automation in production processes, including the development of a linear drive flexible assembly line[97]. - The company is actively pursuing technological advancements and product development to stay competitive in the market[148]. Product Development and Innovation - New product developments include a smart electric height-adjustable desk and a multi-functional electric smart bed, aimed at enhancing the product line and competitiveness[98]. - The company has developed a 5G smart conference system that integrates multiple functions to enhance meeting efficiency and reduce operational complexity[46]. - The company aims to innovate traditional office and lifestyle products, focusing on health, efficiency, and ergonomic design, particularly in linear drive smart office elevation systems[138]. - The company plans to enhance product functionality, comfort, safety, and design by integrating user needs and new technologies in product development[140]. Strategic Acquisitions and Partnerships - The company has completed a strategic acquisition of a tech startup, enhancing its product development capabilities[17]. - A strategic acquisition of a local competitor was announced, expected to enhance the company's product portfolio and increase market penetration by 15%[152]. - The company is actively exploring potential mergers and acquisitions to enhance its competitive position in the market[171]. Financial Strategy and Shareholder Engagement - The company plans to enhance shareholder value by implementing a dividend policy, proposing a dividend payout ratio of 30% of net profits starting in 2022[152]. - The company plans to integrate third-party training resources to enhance employee skills and meet long-term development needs[197]. - The company has a cash dividend policy that aims for a minimum of 80% of profit distribution in mature stages without major capital expenditures, and at least 40% if there are significant expenditures planned[200]. - The participation rate of investors in the 2021 annual general meeting was 63.69%, indicating strong shareholder engagement[163]. Operational Efficiency and Cost Management - The company aims to reduce production costs by 10% through operational efficiencies in the next fiscal year[17]. - The gross margin improved to 45% in 2021, up from 40% in 2020, reflecting better cost management and pricing strategies[152]. - The company emphasizes the importance of supplier management and quality control in its procurement process to ensure material quality and cost-effectiveness[57]. International Presence and Logistics - The company has established a comprehensive sales channel strategy, including both online and offline platforms, to optimize its market reach[36]. - The company expanded its overseas warehouse network to a total of 15 warehouses globally, with a delivered area of 260,000 square meters, and is currently expanding an additional 53,000 square meters in the U.S.[54]. - The company has established subsidiaries, including Suzhou Legge Smart Furniture Co., Ltd., which was dissolved, resulting in a loss of 239,713.96 yuan[136]. Governance and Compliance - The company strictly adheres to the regulations of the Shenzhen Stock Exchange and has effectively executed internal controls for information disclosure in 2021[158]. - The board has emphasized the importance of maintaining high standards of corporate governance and transparency in operations[169]. - The company is focused on maintaining compliance with the China Securities Regulatory Commission and Shenzhen Stock Exchange regulations[187]. Challenges and Risks - The company faces risks from international political and economic fluctuations, particularly affecting its export business, especially in the U.S. market[146]. - The company is exposed to raw material price volatility, which could impact product gross margins and overall performance stability[147]. - The company is experiencing management risks associated with the complexity of its expanding organizational structure and business operations[150].

证券代码：300729 证券简称：乐歌股份 公告编号：2021-147 债券代码：123072 债券简称：乐歌转债 乐歌人体工学科技股份有限公司 关于参加"宁波辖区 2021 年度上市公司投资者 网上集体接待日主题活动"的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 为进一步加强宁波辖区上市公司与投资者特别是中小投资者的沟通交流，增加上 市公司的透明度，提升公司治理水平，促进公司规范运作，在宁波证监局指导下，宁 波上市公司协会联合深圳市全景网络有限公司共同举办"心系投资者 携手共行动"— —宁波辖区 2021 年度上市公司投资者网上集体接待日主题活动。活动于 2021 年 11 月 18 日下午 15:00-17:00 举行，平台登陆地址为：https://rs.p5w.net/。 届时，公司高管人员将参加本次活动，通过网络在线交流形式，就公司治理、发 展战略、经营状况、可持续发展等投资者所关心的问题，与投资者进行"一对多"形 式的沟通与交流。欢迎广大投资者踊跃参与！ 特此公告。 乐歌人体工学科技股份有限公司董事会 2021 年 11 月 11 日 ...

Financial Performance - The company's revenue for Q3 2021 was CNY 703,032,572.43, representing a 19.97% increase year-over-year and a total revenue of CNY 2,100,063,495.83 for the year-to-date, which is a 72.27% increase compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2021 was CNY 39,581,236.34, a decrease of 57.58% year-over-year, with a year-to-date net profit of CNY 123,583,980.64, down 23.46% compared to the previous year[5]. - The company reported a basic earnings per share of CNY 0.22 for Q3 2021, down 57.69% year-over-year, and a diluted earnings per share of CNY 0.22, down 57.69% as well[5]. - In Q3, the company achieved revenue of 703.03 million yuan, a year-on-year increase of 19.97%; net profit attributable to shareholders was 39.58 million yuan, a year-on-year decrease of 57.58%[22]. - For the first three quarters, the company reported revenue of 2.1 billion yuan, a year-on-year increase of 72.27%; net profit attributable to shareholders was 123.58 million yuan, a year-on-year decrease of 23.46%[22]. Assets and Liabilities - Total assets at the end of Q3 2021 were CNY 3,817,527,133.05, an increase of 33.14% compared to the end of the previous year[6]. - The company's total equity attributable to shareholders increased by 80.68% to CNY 1,845,132,827.12 compared to the previous year[6]. - The total current liabilities were RMB 1,251,603,166.63, compared to RMB 1,350,000,000.00 at the end of 2020, showing a decrease of approximately 7.3%[37]. - The company's total liabilities increased to ¥1,972,347,624.05 from ¥1,845,695,095.54, reflecting a rise of approximately 6.9%[39]. Cash Flow - The cash flow from operating activities for the year-to-date was CNY 117,818,432.75, reflecting a decrease of 8.66% compared to the same period last year[5]. - Operating cash inflow totaled RMB 2,155,943,102.76, an increase of 87.52% compared to RMB 1,149,710,516.31 in the same period last year, primarily due to increased revenue[15]. - Operating cash outflow reached RMB 2,038,124,670.01, up 99.68% from RMB 1,020,717,698.86 year-on-year, mainly due to increased cost expenditures associated with higher revenue[15]. - Net cash flow from investing activities was -RMB 278,960,036.69, a 42.24% improvement from -RMB 482,956,760.17 in the previous year, attributed to reduced overseas warehouse investments[15]. - Net cash flow from financing activities amounted to RMB 824,463,616.28, an increase of 86.65% from RMB 441,725,646.21, mainly due to RMB 690 million raised from issuing shares and an increase of RMB 167 million in bank loan repayments[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,726[17]. - The largest shareholder, Ningbo Lijing Electronics Group Co., Ltd., holds 28.04% of shares, totaling 50,914,906 shares[17]. - The second-largest shareholder, Lijing (Hong Kong) International Co., Ltd., owns 21.09% of shares, amounting to 38,308,483 shares[17]. - The company has a total of 7,731,278 restricted shares at the end of the reporting period, with 82,349 shares added during the period[21]. - The company’s actual controllers, Xiang Lehong and Jiang Yi, collectively control 62.78% of the shares through various entities[18]. Research and Development - Research and development expenses increased by 85.59% to CNY 84,725,859.14, attributed to the growth in business activities[13]. - The company's DTC (Direct To Customer) channel revenue continues to increase, enhancing brand awareness and market share[23]. - The company is investing in product R&D, automation, and information technology, which is expected to improve sustainable development capabilities over time[24]. - Research and development expenses for the quarter were ¥84,725,859.14, compared to ¥45,652,633.73 in the previous year, marking an increase of about 85.6%[40]. Operational Developments - The company is expanding its public overseas warehouse business, increasing the number of small and medium-sized enterprises served, which enhances bargaining power in the value chain[23]. - The company has implemented stock option incentive plans, with 1,486,825 stock options available for exercise in the first exercise period[26]. - The company granted 3.367 million shares of restricted stock to 203 incentive targets as part of the 2021 restricted stock incentive plan[29]. - The company has established new subsidiaries focused on technology services and information consulting, enhancing its operational capabilities[34]. Miscellaneous - External macroeconomic factors, including raw material prices and international shipping costs, have put pressure on net profit[24]. - The company has not disclosed any related party relationships or concerted actions among other shareholders[18]. - The third quarter report of Lege Ergonomics Technology Co., Ltd. is unaudited[51]. - The report was released on October 29, 2021[51].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,397,030,923.40, representing a 120.68% increase compared to CNY 633,059,354.33 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2021 was CNY 84,002,744.30, which is a 23.25% increase from CNY 68,153,755.93 in the previous year[21]. - The basic earnings per share for the first half of 2021 was CNY 0.47, a decrease of 4.08% from CNY 0.49 in the same period last year[21]. - The diluted earnings per share was CNY 0.46, down 6.12% from CNY 0.49 in the previous year[21]. - The weighted average return on equity was 7.94%, slightly down from 8.24% in the same period last year[21]. - The company achieved operating revenue of CNY 1,397,030,923.40, representing a year-on-year growth of 120.68%[28]. - The net profit attributable to shareholders was CNY 84,002,744.30, an increase of 23.25% compared to the same period last year[28]. - The company reported a net cash flow from operating activities of CNY 32,447,332.10, a decrease of 58.50% compared to the previous year[75]. - Operating costs increased by 147.05% to CNY 838,251,379.81, primarily due to the growth in revenue[75]. - R&D expenses increased by 134.57%, enhancing product diversity and technological advancement[52]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,055,138,608.60, reflecting a 6.55% increase from CNY 2,867,334,027.65 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 6.71%, reaching CNY 1,089,782,348.65 compared to CNY 1,021,219,329.56 at the end of the previous year[21]. - Cash and cash equivalents at the end of the reporting period amounted to CNY 831,917,768.07, representing 27.23% of total assets, a decrease of 4.34% compared to the previous year[81]. - Accounts receivable stood at CNY 156,916,252.85, accounting for 5.14% of total assets, down by 0.42% year-on-year[81]. - Inventory increased to CNY 549,583,906.19, making up 17.99% of total assets, a slight decrease of 0.36% from the previous year[81]. - Fixed assets rose significantly to CNY 810,939,078.14, representing 26.54% of total assets, an increase of 11.94% due to the transfer of overseas warehouses[81]. - Short-term borrowings reached CNY 786,748,270.00, which is 25.75% of total assets, reflecting a 0.90% increase from the previous year[81]. - Long-term borrowings amounted to CNY 297,356,055.00, accounting for 9.73% of total assets, up by 0.86% year-on-year[81]. Market and Product Development - The main products include ergonomic workstations, smart desks, and various health and smart home products, focusing on integrating linear drive technology[28]. - The cross-border e-commerce public overseas warehouse project generated revenue of CNY 68,110,173.60, and has turned profitable since April after initial losses in the first quarter[29]. - The company continues to focus on expanding its market presence through innovative services in cross-border e-commerce logistics[29]. - The company has diversified its sales channels, covering domestic and international markets through online and offline platforms, with a focus on M2C direct sales[49]. - The company has established a strong presence on major e-commerce platforms, including Tmall, JD.com, Amazon, and others, enhancing its market reach[49]. - The company has leveraged nearly ten years of cross-border e-commerce experience to maintain a competitive edge, offering lower shipping rates compared to smaller competitors[43]. - The company has established 14 overseas warehouses globally, with a total area of 148,000 square meters, and plans to expand to 260,000 square meters by the end of 2021[51]. - Cross-border e-commerce sales grew by 132.45%, with independent website sales increasing by 366.42%[53]. Research and Development - The company’s R&D efforts are centered around ergonomic design and smart technology integration for health-focused office solutions[28]. - The company holds 1,079 valid patents, including 72 authorized invention patents, showcasing its innovation capabilities[57]. - The company has invested 50 million RMB in R&D for innovative ergonomic solutions, aiming to lead the market in technology advancements[151]. - The company has actively engaged in product innovation based on linear drive technology, enhancing its ability to meet consumer demands and market trends[60]. Risk Management and Compliance - The company has implemented a foreign exchange hedging strategy to mitigate risks associated with currency fluctuations, ensuring stable operational performance[102]. - The company has established a comprehensive risk management system for foreign exchange hedging, including strict internal controls and regular audits[102]. - The company is facing risks from international political and economic fluctuations, particularly affecting its export business, which is heavily reliant on the US market[111]. - The company is exposed to foreign exchange risks due to a high proportion of export revenue, primarily settled in USD, which can affect competitiveness and lead to exchange gains or losses[113]. - The company is committed to maintaining compliance with the latest regulations set forth by the China Securities Regulatory Commission[154]. Employee and Social Responsibility - The company has established a comprehensive performance evaluation system for employees, tracking and assessing them from recruitment to ongoing development[135]. - In the first half of 2021, the company conducted 140 training sessions, with a total of 7,999 training participants[137]. - The company emphasizes employee welfare by providing comprehensive living facilities, including dormitories and free nutritious meals[138]. - The company actively participates in social responsibility initiatives, including educational funding for local universities[142]. - The company has invested over 70 million yuan in environmental protection equipment, including renewable energy devices and operational costs[140]. Shareholder and Financial Management - The company plans to prioritize cash dividends, aiming for a cumulative distribution of at least 30% of the average distributable profit over three consecutive years[148]. - The profit distribution policy includes a minimum cash dividend ratio of 80% for mature stages without significant capital expenditures, 40% for mature stages with significant expenditures, and 20% for growth stages with significant expenditures[148]. - The company has committed to not transferring benefits to other entities or individuals under unfair conditions, ensuring the protection of shareholder interests[149]. - The company’s board and senior management have pledged to adhere to measures that compensate for any dilution of immediate returns from the issuance of new shares[154]. - The company has established measures to avoid any competition with its subsidiaries and will ensure compliance with these commitments to prevent economic losses[150].

Financial Performance - The company's revenue for Q1 2021 reached ¥659,269,770.75, representing a 181.98% increase compared to ¥233,799,642.51 in the same period last year[8] - Net profit attributable to shareholders was ¥31,962,259.95, up 128.17% from ¥14,008,175.88 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥30,297,170.62, reflecting a 126.14% increase from ¥13,397,250.16 in the previous year[8] - Basic earnings per share increased by 43.75% to ¥0.23 from ¥0.16 in the same period last year[8] - Total profit amounted to CNY 35,016,999.33, a 125.34% increase compared to the previous year[19] - The company's net profit was negatively impacted by rising raw material prices, with a significant increase in shipping costs of 22.12 million yuan, up 528.13% year-on-year[21] - The company reported a total of CNY 1,668.64 million in current assets, a decrease from CNY 1,715.41 million at the end of 2020[45] - The company reported a total of CNY 1,591,537,685.10 in current assets, unchanged from the previous period[72] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,014,589,388.55, a 5.14% increase from ¥2,867,334,027.65 at the end of the previous year[8] - The total assets increased to CNY 3,014.59 million as of March 31, 2021, compared to CNY 2,867.33 million at the end of 2020[46] - Total liabilities increased to CNY 1.95 billion as of March 31, 2021, compared to CNY 1.85 billion at the end of 2020, reflecting a rise of approximately 5.9%[51] - The company’s total liabilities also rose, with current liabilities totaling ¥1,473,767,272.69, unchanged from the previous year[70] - Total liabilities reached CNY 1,703,419,905.25, compared to CNY 1,745,908,273.39, indicating an increase of CNY 42,488,368.14[74] Cash Flow - The company reported a net cash flow from operating activities of ¥6,228,936.98, a slight decrease of 1.08% compared to ¥6,297,019.66 in the same period last year[8] - Cash flow from operating activities was CNY 6.23 million, slightly down from CNY 6.30 million in the previous year, indicating stable cash generation[63] - Operating cash flow increased significantly to ¥734,763,952.74, up from ¥306,303,225.22, representing a growth of 140% year-over-year[66] - Cash flow from financing activities generated a net inflow of ¥43,631,418.90, a turnaround from a net outflow of -¥25,679,434.20 in the prior year[67] Investment and Expenditures - Research and development expenses rose by 123.27% to CNY 27,013,735.57, reflecting increased investment in innovation[18] - The company incurred total investment cash outflows of ¥98,533,528.48, up from ¥52,152,269.10 in the previous year, reflecting a 89% increase[67] - The total investment for the first phase of the "Smart Health West Industry Park" project is planned at 2 billion CNY, with fixed asset investment not less than 1 billion CNY[32] Market and Competitive Landscape - Cross-border e-commerce sales revenue grew by 243.94% year-on-year, while independent site sales revenue surged by 842.60%[20] - The ergonomic home office industry is experiencing rapid growth, leading to increased competition, which may affect the company's profit margins[27] - The company is expanding its global sales market and production supply chain to reduce the impact of potential trade tensions, particularly with the U.S.[24] Strategic Initiatives - The company aims to strengthen cost management and optimize supply chain resources to mitigate the impact of raw material price fluctuations on profit margins[25] - The company is focusing on product innovation, channel upgrades, and brand building to maintain its competitive edge in the ergonomic market[27] - The company has implemented an employee stock ownership plan to enhance employee engagement and align interests with shareholders[28] - The company completed its first employee stock ownership plan, purchasing 923,300 shares at an average price of 39.6483 CNY per share, totaling 36,607,262.80 CNY, representing 0.66% of the total share capital[29] Regulatory and Compliance - The company has not reported any non-compliance with fundraising management regulations during the reporting period[37] - There were no significant changes in project feasibility or any unutilized raised funds as of March 31, 2021, amounting to CNY 292.34 million[37] - The company received acceptance from the Shenzhen Stock Exchange for its application to issue shares to specific targets on February 22, 2021[30]