Financial Performance - The company's operating revenue for the first half of 2022 was ¥115,988,057.93, a decrease of 37.48% compared to ¥185,517,404.42 in the same period last year[17]. - The net profit attributable to shareholders was a loss of ¥17,101,575.90, representing a decline of 405.77% from a profit of ¥5,593,014.77 in the previous year[17]. - The net cash flow from operating activities was a negative ¥16,872,295.18, a decrease of 202.86% compared to a positive cash flow of ¥16,402,462.07 in the same period last year[17]. - The company's revenue for the reporting period was approximately ¥115.99 million, a decrease of 37.48% compared to ¥185.52 million in the same period last year, primarily due to the impact of the pandemic and supply chain disruptions[39]. - Operating costs decreased by 35.49% to ¥98.80 million from ¥153.16 million, reflecting a strategic reduction in new device sales and a corresponding decrease in repair costs[39]. - The company reported a net cash outflow from operating activities of approximately ¥16.87 million, a significant decline of 202.86% compared to a cash inflow of ¥16.40 million in the previous year[39]. - The company reported a net loss of -471.51 from its subsidiary, Shanghai Baihua Yuebang Electronics Technology Co., Ltd., which is involved in mobile phone after-sales services[58]. - The company's net profit for the first half of 2022 was a loss of CNY 16,802,484.66, compared to a profit in the same period last year[148]. - The total comprehensive income for the first half of 2022 was -16,802,484.66 CNY, compared to 74,281,209.41 CNY in the first half of 2021[129]. Assets and Liabilities - The total assets at the end of the reporting period were ¥211,465,433.34, down 11.82% from ¥239,806,038.21 at the end of the previous year[17]. - The net assets attributable to shareholders decreased by 14.45% to ¥137,274,006.14 from ¥160,458,223.03 at the end of the previous year[17]. - Cash and cash equivalents decreased by 30.04%, from 120,631,621.63 to 42,841,239.48, due to increased investments in trading financial assets and operational losses[43]. - The company's total liabilities as of June 30, 2022, were RMB 74,191,427.20, down from RMB 79,347,815.18 at the start of the year, indicating a reduction of about 6.5%[120]. - The total liabilities to total assets ratio as of June 30, 2022, was approximately 35.0%, compared to 33.1% at the beginning of the year, indicating a slight increase in leverage[120]. Shareholder Information - The company reported a total of 130,133,104 shares outstanding, with 80.64% being unrestricted shares[100]. - The company plans to repurchase shares with a total amount not less than RMB 25 million and not exceeding RMB 50 million, at a price not exceeding RMB 14 per share[101]. - The company repurchased 2,985,380 shares, accounting for 2.29% of the total share capital, with a total transaction amount of 36,154,778.60 RMB[102]. - The largest shareholder, Beijing Da'an Century Investment Management Co., Ltd., holds 31.23% of the shares, totaling 40,645,280 shares[106]. - Zhao Xinyu, a major shareholder, holds 17.67% of the shares, totaling 22,990,380 shares, all of which are pledged[106]. Operational Developments - The company operates 128 mobile after-sales service chain stores and has developed over 2,800 franchise stores across 30 provinces and municipalities in China[26]. - The company launched a live e-commerce business during the reporting period to drive traffic for its second-hand phone recycling and repair services[28]. - The company has developed a SaaS system for franchise partners to enhance operational efficiency and management capabilities[29]. - The company has established a unique supply chain advantage in repair parts, particularly for screens and batteries, through strategic partnerships with leading brands[33]. - The "百邦" brand has become a well-known name in the mobile repair industry, enhancing the company's competitive edge and service quality[37]. Cash Flow and Investments - The company increased its investment in trading financial assets, resulting in a net cash outflow from investing activities of approximately ¥61.72 million, up 132.17% from ¥26.58 million[39]. - Cash flow from investing activities resulted in a net outflow of -61,717,265.00 CNY for the first half of 2022, compared to -26,582,460.86 CNY in the same period of 2021[131]. - The company reported investment income losses of -465,585.20 CNY in the first half of 2022, compared to gains of 133,645.83 CNY in the same period of 2021[129]. Compliance and Governance - The financial statements were approved by the board of directors on August 26, 2022, indicating a formal review process[157]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance and relevant regulations, ensuring compliance and accuracy[158]. - The company has undergone changes in its board of directors, with new appointments made on January 14, 2022[64]. - The company actively engages with investors through various channels, ensuring timely and accurate information disclosure[70]. Environmental and Social Responsibility - The company completed repairs for 336,000 mobile phones and tablets during the reporting period, contributing to reduced carbon emissions[69]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities[69]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[69].

Financial Performance - The company's revenue for Q1 2022 was ¥57,283,202.38, a decrease of 40.03% compared to ¥95,526,578.77 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥8,640,914.29, representing a decline of 923.33% from a profit of ¥1,049,509.85 in the previous year[4] - Total operating revenue for Q1 2022 was CNY 57,283,202.38, a decrease of 40% compared to CNY 95,526,578.77 in the same period last year[20] - Total operating costs for Q1 2022 were CNY 60,763,639.67, down from CNY 95,606,638.25, indicating a reduction of approximately 36.5%[20] - Net profit for Q1 2022 was a loss of CNY 8,640,914.29, compared to a profit of CNY 1,049,509.85 in Q1 2021, reflecting a significant decline[21] - Basic and diluted earnings per share for Q1 2022 were both CNY -0.0664, compared to CNY 0.02 in the same period last year[22] Cash Flow - The net cash flow from operating activities was -¥2,673,384.72, a decrease of 151.18% compared to ¥5,223,979.87 in Q1 2021[4] - Cash flow from operating activities showed a decrease, with cash received from sales dropping to CNY 64,089,900.93 from CNY 112,557,713.32 in the previous year[24] - Total cash inflow from investment activities was 82,547,434.98 CNY, while cash outflow was 143,675,229.09 CNY, resulting in a net cash flow of -61,127,794.11 CNY[25] - Cash inflow from financing activities totaled 2,710,000.00 CNY, with cash outflow of 5,990,301.45 CNY, leading to a net cash flow of -3,280,301.45 CNY[26] - The ending balance of cash and cash equivalents was 41,991,019.84 CNY, down from 109,071,193.63 CNY at the beginning of the period[26] - The company experienced a decrease in cash and cash equivalents by 67,080,173.79 CNY during the quarter[26] Assets and Liabilities - The total assets at the end of the reporting period were ¥220,006,425.29, down 8.26% from ¥239,806,038.21 at the end of the previous year[4] - The company's total assets decreased from CNY 239,806,038.21 in the previous quarter to CNY 220,006,425.29 in Q1 2022, a reduction of about 8.3%[18] - The total liabilities decreased from CNY 79,347,815.18 to CNY 73,895,261.55, showing a decline of approximately 6%[18] - The company's total non-current assets decreased from CNY 58,283,195.76 to CNY 53,148,136.81, a decline of approximately 8.7%[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 5,589[10] - The largest shareholder, Beijing Da'an Century Investment Management Co., Ltd., holds 31.23% of shares, totaling 40,645,280 shares[10] - The second-largest shareholder, Zhao Xinyu, holds 17.67% with 22,990,380 shares, all of which are pledged[10] - The total number of restricted shares held by major shareholders is 25,188,892 shares, with 581,288 shares released during the period[13] - The company has a total of 25,746,180 restricted shares at the beginning of the period[13] Non-Operating Income and Expenses - The company reported a significant increase in non-operating income, which rose by 6317.88% to ¥1,329,200, mainly from overdue payables being recognized as non-operating income[8] - Research and development expenses for Q1 2022 were CNY 942,493.82, with no prior year data available for comparison[21] Market and Future Plans - The company has plans for future market expansion and product development, although specific details were not disclosed in the provided content[14] Other Financial Metrics - The weighted average return on equity was -5.64%, a decrease of 6.03% from 0.39% in the same period last year[4] - The fair value change loss was ¥6,912,000, primarily due to significant market fluctuations affecting the company's financial assets[8] - The company did not conduct new machine sales during the reporting period, leading to an 8.64% decrease in revenue excluding new machine sales[7] - The company repurchased shares worth ¥5,834,200 during the reporting period, contributing to a net cash flow used in financing activities of -¥328,030, an increase of 1601.11%[8]

Financial Performance - The company's operating revenue for 2021 was ¥312,044,278.05, a decrease of 36.18% compared to ¥488,918,503.86 in 2020[16]. - The net profit attributable to shareholders for 2021 was ¥6,508,421.64, representing a significant increase of 107.44% from a loss of ¥87,497,124.21 in 2020[16]. - The net cash flow from operating activities was ¥47,059,086.69, an increase of 152.98% compared to a negative cash flow of ¥88,827,244.71 in 2020[16]. - The basic earnings per share for 2021 was ¥0.05, recovering from a loss of ¥0.67 per share in 2020, marking a 107.46% improvement[16]. - The total assets at the end of 2021 were ¥239,806,038.21, down 11.74% from ¥271,707,158.53 at the end of 2020[16]. - The net assets attributable to shareholders decreased by 12.68% to ¥160,458,223.03 at the end of 2021 from ¥183,751,250.99 at the end of 2020[16]. - The weighted average return on net assets for 2021 was 3.39%, a significant recovery from -38.52% in 2020[16]. - The company reported a net profit of 6,217,900.46 yuan for the year 2021, a significant improvement compared to a net loss of 18,354,398.22 yuan in 2020[21]. - In 2021, the company's revenue was 312 million yuan, with a year-on-year decrease of 36.18%, and the net profit attributable to the listed company was 6.5084 million yuan, a reduction in losses by 107.44%[38]. Revenue Breakdown - Revenue from mobile phone repairs was ¥169,572,199.17, down 17.81% from ¥206,312,098.12 in 2020, while the gross margin increased to 31.99% from 27.61%[46][48]. - New machine sales revenue plummeted by 73.89% to ¥55,391,432.39 from ¥212,125,109.25 in 2020, with a gross margin of only 1.56%[46][48]. - E-commerce revenue surged by 92.13% to ¥49,839,739.99 from ¥25,940,732.62 in 2020, with a gross margin of 13.16%[46][48]. - The total operating cost decreased by 44.41% to ¥246,573,082.29 from ¥443,544,417.19 in 2020, primarily due to reduced costs in new machine sales[44][46]. - The company reported a gross margin of 18.69% for the residential service and repair sector, down from the previous year[44]. Business Strategy and Operations - The company has optimized its business processes and adjusted regional layouts, which has effectively improved overall profitability and turned losses into profits[28]. - The company focuses on providing comprehensive after-sales services for mobile phones, including repair services, product sales, and value-added services[30]. - The company has established 130 direct service stores and over 2,000 alliance stores, covering more than 300 cities and towns across China[27]. - The company signed an independent repair provider agreement with Apple in Q2 2021, allowing certain alliance stores to offer original parts services[26]. - The company has a dual-channel business model combining physical stores and e-commerce platforms to enhance service delivery[30]. - The company has shifted focus to Apple repair services and alliance business, reducing reliance on new machine sales[48]. - The company actively adjusted its business structure, leading to a significant reduction in costs associated with certain brand operations[49]. Cash Flow and Financial Position - Operating cash inflow decreased by 31.01% to ¥411,703,436.63, while operating cash outflow decreased by 46.81% to ¥364,644,349.94[58]. - The net cash flow from operating activities turned positive at ¥47,059,086.69, a significant increase of 152.98% compared to the previous year[59]. - As of the end of 2021, the company's cash and cash equivalents amounted to CNY 120.63 million, representing 50.30% of total assets, an increase of 8.72% compared to the beginning of the year[62]. - The company reported a net increase in cash and cash equivalents of ¥337,943.20, reversing a previous year's decrease[59]. - The company repaid CNY 4 million of long-term loans during the reporting period, leading to a reduction in long-term borrowings to CNY 10 million, a decrease of 37.50%[64]. Governance and Management - The company maintains independent operations in business, personnel, assets, and finance, ensuring no interference from the controlling shareholder[99]. - The company has established a transparent performance evaluation and incentive mechanism for its management team[96]. - The company has independent financial departments and a complete financial accounting system, ensuring no shared bank accounts with the controlling shareholder[100]. - The company has a clear and complete asset ownership structure, with no reliance on the controlling shareholder[100]. - The company has a diverse management team with members holding various positions in other organizations[114]. - The company has implemented a stock incentive plan, with adjustments based on performance assessments for certain executives[104]. Shareholder Relations and Dividends - The company decided not to distribute cash dividends for the fiscal year 2021, with a net profit attributable to shareholders of 6,508,421.64 CNY and available profit for distribution being -28,055,828.99 CNY[137]. - The company’s decision-making process regarding profit distribution was transparent, allowing minority shareholders to express their opinions and ensuring their rights were protected[135]. - The company has approved a share repurchase plan and addressed unfulfilled losses reaching one-third of the total paid-in capital[120]. - The total cash dividend amount, including other methods such as share repurchase, was 29,801,449.60 CNY, which accounted for 100% of the total profit distribution amount[136]. Risk Management - The company has identified potential risk factors and countermeasures in its annual report, emphasizing the importance of investor awareness[4]. - The company faces risks related to the operational capability of its alliance business and the adaptability to strategic goals, given its limited experience in franchise operations[87]. - The company is addressing risks from changes in brand manufacturers' competitive landscape and warranty policies by enhancing its market share in authorized service and improving single-store business volume through online capabilities[88]. - The company is also mitigating risks from recurring pandemic control policies by promoting online services and expanding its alliance business to increase operational efficiency[89]. Employee and Training Initiatives - The total number of employees at the end of the reporting period was 608, with 87 in the parent company and 521 in major subsidiaries[128]. - A total of 630 employees received compensation during the reporting period[128]. - The company conducted skill training for 483 employees, accumulating over 80,000 hours of training[132]. - The company aims to build a learning organization through various training programs, including new employee orientation and management training[132]. Legal and Compliance Matters - The company is involved in a lawsuit with a claim amount of ¥2.83 million, which is currently under first-instance trial and has not yet been adjudicated[190]. - Another lawsuit involves a claim amount of ¥554,800, also under second-instance trial and pending judgment[190]. - The company reported no penalties or rectifications during the reporting period[191]. - There were no violations regarding external guarantees during the reporting period[183]. Environmental and Social Responsibility - The company strictly adheres to environmental protection laws and has not faced any administrative penalties related to environmental issues during the reporting period[168]. - Employee labor contract signing rate and social insurance coverage rate both reached 100% during the reporting period[170].

Financial Performance - The company's revenue for Q3 2021 was ¥66,424,631.38, a decrease of 30.51% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2021 was ¥4,485,984.60, an increase of 166.78% year-on-year[3]. - Total revenue for Q3 2021 was CNY 251,942,035.80, a decrease of 25.6% compared to CNY 339,010,574.77 in Q3 2020[30]. - Net profit for Q3 2021 was CNY 10,078,999.37, compared to a net loss of CNY 26,624,083.06 in Q3 2020[31]. - The net profit attributable to the parent company was ¥10,078,999.37, compared to a net loss of ¥26,560,217.11 in the previous period[32]. - The total comprehensive income attributable to the parent company was ¥10,078,999.37, while the previous period showed a total comprehensive loss of ¥26,560,217.11[32]. - Basic and diluted earnings per share were both ¥0.08, recovering from a loss of ¥0.20 in the previous period[32]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period reached ¥34,045,118.88, representing a 191.20% increase compared to the previous year[13]. - Operating cash inflow totaled ¥305,678,644.46, down 18.9% from ¥376,846,056.43 in the previous period[35]. - The net cash flow from operating activities was ¥34,045,118.88, a significant improvement from a net outflow of ¥37,332,033.42 in the previous period[35]. - Cash and cash equivalents at the end of the period were ¥72,909,735.60, down from ¥142,346,745.46 at the end of the previous period[36]. - The net cash flow from investing activities was -¥44,313,070.53, worsening from -¥10,437,564.31 in the previous period[35]. - The net cash flow from financing activities was -¥25,556,598.94, compared to -¥1,357,586.35 in the previous period[36]. - The company received ¥5,000,000.00 from borrowings during the period, with no previous borrowings reported[35]. - Total assets at the end of Q3 2021 were ¥233,525,852.56, a decrease of 14.05% from the end of the previous year[3]. - Total assets as of September 30, 2021, were CNY 233,525,852.56, down from CNY 271,707,158.53 at the end of 2020[28]. - The company’s total equity as of September 30, 2021, was CNY 166,754,821.20, down from CNY 183,751,250.99 at the end of 2020[29]. Operating Costs and Expenses - The company's operating costs decreased by 32.98% to ¥202,855,682.65 for the year-to-date period, primarily due to the termination of a certain brand's authorized repair business[10]. - Total operating costs for Q3 2021 were CNY 251,185,250.73, down 33.4% from CNY 376,760,406.42 in the same period last year[30]. - The company’s management expenses decreased by 44.83% to ¥24,604,816.29 for the year-to-date period, attributed to improved management efficiency[10]. - The company reported a gross profit of CNY 86,086,353.15 for Q3 2021, compared to CNY 36,327,318.83 in Q3 2020[30]. Share Repurchase and Equity - The company repurchased shares, resulting in a 239.55% increase in treasury stock to ¥39,677,208.85[8]. - The company repurchased a total of 2,234,980 shares, accounting for 1.72% of the total share capital, with a total transaction amount of approximately RMB 27.99 million[22]. - The maximum transaction price during the repurchase was RMB 13.48 per share, while the minimum was RMB 11.76 per share[22]. - The company plans to use its own funds to repurchase shares for employee stock ownership plans or equity incentives, with a total repurchase amount not less than RMB 25 million and not exceeding RMB 50 million[22]. - The company has a total of 25,888,686 restricted shares at the end of the reporting period, with various unlock conditions based on management and incentive plans[19]. - The company plans to unlock 25% of the restricted shares annually for certain executives[18]. - The company has initiated the process to repurchase and cancel certain restricted stocks and stock options due to non-compliance with performance conditions[25]. Litigation and Legal Matters - The company has ongoing litigation involving amounts of RMB 178,000, RMB 283.29 million, and RMB 422.1 million, with no significant judgments made yet[21]. - The company has not disclosed any significant undisclosed litigation matters[20]. - The company has not identified any other related relationships among the top ten shareholders[16]. Inventory and Receivables - The company’s inventory decreased by 40.82% to ¥18,766,640.45, reflecting enhanced inventory turnover and optimization of inventory structure[8]. - Accounts receivable decreased to CNY 16,405,084.77 from CNY 23,594,486.51, a decline of 30.5%[28]. - Inventory decreased to CNY 18,766,640.45 from CNY 31,708,491.34, a reduction of 40.8%[28].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥185,517,404.42, a decrease of 23.79% compared to ¥243,415,164.41 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was ¥5,593,014.77, representing an increase of 128.10% from a loss of ¥19,906,879.26 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥5,090,689.10, up 123.14% from a loss of ¥21,996,873.70 in the same period last year[20]. - The net cash flow from operating activities was ¥16,402,462.07, a significant improvement of 122.94% compared to a negative cash flow of ¥71,499,034.35 in the previous year[20]. - Basic earnings per share increased to ¥0.04 from a loss of ¥0.15, marking a 126.67% improvement[20]. - Total assets at the end of the reporting period were ¥234,152,739.15, down 13.82% from ¥271,707,158.53 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company decreased by 11.98% to ¥161,741,480.60 from ¥183,751,250.99 at the end of the previous year[20]. - The weighted average return on net assets was 2.74%, an increase of 10.35 percentage points from -7.61% in the previous year[20]. Operational Developments - The company operates 142 mobile after-sales service chain stores and has developed over 2,500 franchise stores across 30 provinces and municipalities in China[28]. - The company has established a comprehensive service system consisting of three main segments: mobile repair services, product sales, and value-added services[29]. - The company has developed a SaaS system for franchisees to enhance operational management, focusing on supply chain, training, and brand integration[31]. - The company’s mobile repair services include both warranty and out-of-warranty repairs, generating revenue from labor fees and hardware costs[29]. - The company’s operational management system integrates personnel development, supply chain management, and IT systems, enhancing efficiency and service quality[37]. - The company has seen a continuous increase in online order share, benefiting from the shift in consumer behavior towards online service requests[32]. - The company’s alliance business aims to empower small and micro mobile repair businesses, addressing the fragmented nature of the industry[33]. Investment and Financial Management - The company invested ¥20,950,000.00 in trading financial assets during the reporting period, reflecting a significant increase in investment activities[47]. - The cash and cash equivalents decreased by 48.22% to ¥-40,559,008.18, influenced by investments in trading financial assets and stock buybacks[43]. - The company has committed a total investment of RMB 20,971.92 million, with a cumulative investment of RMB 20,253.28 million, achieving a progress rate of 96.58%[55]. - The company has utilized RMB 100 million of idle raised funds temporarily for working capital, with a commitment to return it within 12 months[56]. - The company has achieved a total interest income of RMB 192,181.92 from idle raised funds during the first half of 2021[56]. Shareholder and Stock Information - The total number of shares is 130,273,360, with a significant reduction in restricted shares from 49,171,386 to 25,896,111[110]. - The company plans to repurchase shares with a total amount between 25 million yuan and 50 million yuan, at a price not exceeding 14 yuan per share[110]. - The company repurchased 2,234,980 shares, accounting for 1.72% of the total share capital, with a total transaction amount of approximately ¥27.99 million[111]. - The largest shareholder, Beijing Da'an Century Investment Management Co., Ltd., holds 31.20% of the shares, totaling 40,645,280 shares[116]. - The company has a shareholding structure that includes significant pledges, with 17,929,998 shares pledged by the largest shareholder[116]. Legal and Compliance Matters - The company is facing risks related to the operational capabilities of its franchise business, which has only been developed for two years, potentially impacting short-term growth targets[66]. - The company has not engaged in any derivative investments or entrusted loans during the reporting period[62][63]. - There were no major litigation or arbitration matters during the reporting period[91]. - The company is involved in several ongoing litigation cases with amounts including 9.60 million, 178.00 million, and 283.29 million[91]. Future Outlook and Strategic Plans - The company aims to enhance market expansion and product development strategies moving forward, focusing on innovation and technology[145]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[75]. - The decision to terminate certain projects was made due to significant changes in market conditions and to improve the efficiency of fund utilization[58]. Environmental and Social Responsibility - The company is not classified as a key pollutant discharge unit and has not faced any environmental penalties during the reporting period[81]. - The company has fulfilled all commitments made by its actual controllers, shareholders, and related parties during the reporting period[85].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥185,517,404.42, a decrease of 23.79% compared to ¥243,415,164.41 in the same period last year[20]. - The net profit attributable to shareholders was ¥5,593,014.77, representing a significant increase of 128.10% from a loss of ¥19,906,879.26 in the previous year[20]. - The net cash flow from operating activities improved to ¥16,402,462.07, a turnaround of 122.94% from a negative cash flow of ¥71,499,034.35 in the same period last year[20]. - Basic earnings per share rose to ¥0.04, compared to a loss of ¥0.15 per share in the previous year, marking a 126.67% improvement[20]. - The company's revenue for the reporting period was ¥185,517,404.42, representing a decrease of 23.79% compared to the previous year[42]. - Operating costs decreased by 31.08% to ¥153,156,110.21, attributed to reduced new device sales and the termination of certain brand repair services, leading to an increase in gross margin[42]. - Sales expenses decreased by 34.95% to ¥11,464,083.46 due to product structure optimization and the cessation of certain brand authorized store sales[42]. - Management expenses were reduced by 52.02% to ¥14,713,593.07, resulting from improved efficiency and the termination of certain brand repair services[43]. - The company reported a significant increase of 122.94% in cash flow from operating activities, amounting to ¥16,402,462.07, due to improved profitability[43]. - The company reported a net loss of CNY 23.06 million for the first half of 2021, compared to a loss of CNY 97.35 million in the same period of 2020, indicating an improvement in performance[138]. - The company achieved a basic earnings per share of ¥0.04 in the first half of 2021, compared to a loss per share of ¥0.15 in the same period of 2020[142]. Assets and Liabilities - Total assets at the end of the reporting period were ¥234,152,739.15, down 13.82% from ¥271,707,158.53 at the end of the previous year[20]. - The net assets attributable to shareholders decreased to ¥161,741,480.60, a decline of 11.98% from ¥183,751,250.99 at the end of the previous year[20]. - The total amount of raised funds used by the company as of June 30, 2021, is RMB 202,532,822.56, with RMB 6,296,713.98 used in the first half of 2021[54]. - The balance of the raised funds account is RMB 13,671,590.98, which includes investment income of RMB 6,485,237.81 from structured deposits and bank wealth management products[54]. - The total amount of unused raised funds as of June 30, 2021, is RMB 7,186,353.17, accounting for 3.43% of the total raised funds[56]. - The total equity attributable to shareholders decreased from CNY 183.75 million to CNY 161.74 million, a decline of about 12%[133]. - The company's cash and cash equivalents dropped from CNY 56.93 million to CNY 36.25 million, a decline of about 36.6%[135]. - Total liabilities decreased from CNY 87.96 million to CNY 72.41 million, reflecting a decrease of approximately 17.7%[133]. Investments and Cash Flow - The company invested ¥20,000,000.00 in trading financial assets, resulting in a fair value gain of ¥950,000.00[51]. - Cash and cash equivalents decreased by 48.22% to ¥-40,559,008.18, influenced by investments in trading financial assets and stock buybacks[43]. - The company reported a cash inflow of ¥225,000,000.00 from investment recovery, an increase from ¥210,500,000.00 in the first half of 2020[150]. - The net cash flow from investment activities was negative at -¥26,582,460.86, compared to -¥6,823,505.90 in the previous year[150]. - The company experienced a net cash outflow from financing activities of -¥30,377,198.94, with total cash outflow amounting to ¥30,377,198.94[150]. Operational Strategy and Market Position - The company operates 142 physical service stores and over 2,500 franchise stores across 30 provinces in China, providing comprehensive mobile phone after-sales services[28]. - The company has established long-term partnerships with major mobile brands, including Apple, for over 11 years, enhancing its service credibility[28]. - The company launched an alliance business in 2019 to empower small and micro mobile repair businesses, focusing on supply chain, training, and management[31]. - The company signed an IRP independent repair agreement with Apple, allowing some franchise stores to provide original parts services, which is expected to increase market share[32]. - The company’s e-commerce platform connects online and offline services, facilitating the recovery and sale of second-hand phones and providing warranty services[30]. - The company’s online business leverages multiple platforms, including WeChat, Tmall, and Meituan, to enhance customer engagement and order acquisition[36]. - The company’s operational management system integrates personnel development, supply chain management, and IT systems, enhancing efficiency and service quality[37]. - The company’s service coverage includes 170 cities, with ongoing expansion through franchise partnerships, enhancing its market presence[36]. Risk Management and Compliance - The company has outlined potential risk factors and countermeasures in its report, emphasizing the importance of investor awareness regarding future plans and forecasts[4]. - The company faces risks related to the operational capabilities of its franchise business, which has only been developed for two years, impacting short-term growth targets[66]. - The company plans to enhance operational capabilities through the development of standard operating procedures (SOPs) and continuous talent investment[67]. - The company emphasizes timely and accurate information disclosure and effective communication with investors[82]. - The company is not classified as a key pollutant discharge unit and has not faced any administrative penalties related to environmental issues[81]. Shareholder and Equity Information - The company has not purchased any bank wealth management products with raised funds, maintaining a balance of RMB 0 in this regard[57]. - The company has approved the use of up to RMB 200 million of idle raised funds for cash management, with a maximum of RMB 1.5 billion of idle self-owned funds[57]. - The company has implemented a stock incentive plan, with independent directors approving the plan and its management[78]. - The total number of shares before the change was 130,273,360, with a post-change total of 130,273,360, indicating no net change in total shares[110]. - The number of restricted shares decreased from 49,171,386 (37.74%) to 25,896,111 (19.88%), a reduction of 23,275,275 shares[110]. - The number of unrestricted shares increased from 81,101,974 (62.26%) to 104,377,249 (80.12%), an increase of 23,275,275 shares[110]. - The company repurchased 2,234,980 shares, representing 1.72% of the total share capital, with a total transaction amount of approximately RMB 27.99 million[111]. - The largest shareholder, Beijing Da'an Century Investment Management Co., Ltd., holds 31.20% of the shares, totaling 40,645,280 shares[116]. - The company has a commitment to limit share transfers by its chairman, Liu Tiefeng, to no more than 25% of his total shares during his tenure[85]. Legal and Regulatory Matters - The semi-annual financial report has not been audited[89]. - There were no major litigation or arbitration matters during the reporting period[91]. - The company is involved in several ongoing legal disputes, with a total amount in dispute of approximately 283.29 million yuan[91]. - The company reported a litigation case involving an amount of 4.221 million yuan, which is currently in the trial phase and has not yet been adjudicated[92]. - There were no penalties or rectifications during the reporting period[93].

Financial Performance - The company's revenue for Q1 2021 was ¥95,526,578.77, representing a 110.41% increase compared to ¥45,399,950.99 in the same period last year[7]. - Net profit attributable to shareholders was ¥1,049,509.85, a significant turnaround from a loss of ¥16,512,160.93 in the previous year, marking a 106.36% improvement[7]. - The net cash flow from operating activities was ¥5,223,979.87, compared to a negative cash flow of ¥15,220,951.53 in the same period last year, reflecting a 134.32% increase[7]. - Basic earnings per share improved to ¥0.01 from a loss of ¥0.13, indicating a 107.69% increase[7]. - Total operating revenue for Q1 2021 was CNY 95,526,578.77, a significant increase of 110.8% compared to CNY 45,399,950.99 in Q1 2020[49]. - The net profit for Q1 2021 was CNY 1,049,509.85, a turnaround from a net loss of CNY 16,512,160.93 in Q1 2020[51]. - The company reported a gross profit margin of approximately 0.1% in Q1 2021, compared to a negative margin in Q1 2020[49]. Assets and Liabilities - Total assets at the end of the reporting period were ¥278,331,557.75, up 2.44% from ¥271,707,158.53 at the end of the previous year[7]. - Current assets decreased to CNY 219,080,197.92 from CNY 229,249,388.26, representing a decline of about 4.4%[41]. - Total liabilities increased to CNY 93,402,759.91 from CNY 87,955,907.54, reflecting an increase of about 6.2%[43]. - Total liabilities increased from CNY 87.96 million to CNY 107.09 million, reflecting an increase of CNY 19.13 million[66]. - Owner's equity decreased to CNY 188,741,823.33 from CNY 194,747,916.05, indicating a decline of 3.1%[48]. Cash Flow - The net cash flow from operating activities for the first quarter was ¥5,223,979.87, a significant improvement compared to the previous year's loss of ¥15,220,951.53[58]. - Total cash inflow from operating activities amounted to ¥112,861,390.32, up from ¥59,131,719.37 in the same period last year, representing an increase of approximately 91%[58]. - Cash and cash equivalents at the end of the period stood at ¥113,340,781.10, compared to ¥179,711,375.60 at the end of the previous period, indicating a decrease of about 37%[59]. - The company received cash from investment activities totaling ¥55,083,097.44, down from ¥150,955,716.67 in the previous year, reflecting a decrease of approximately 63%[59]. - The cash outflow for purchasing goods and services was ¥79,816,975.83, which is a 98% increase from ¥40,272,266.62 in the previous year[58]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,009[10]. - The largest shareholder, Beijing Da'an Century Investment Management Co., Ltd., held 31.20% of the shares, amounting to 40,645,280 shares[10]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[11]. Operational Efficiency - The company's inventory decreased by 38.96% to 19.36 million CNY as a result of inventory digestion during the reporting period[17]. - Accounts payable dropped by 64.47% to 2.06 million CNY, primarily due to payments made for 2020 year-end procurement[17]. - Management expenses decreased by 48.48% to 8.39 million CNY, due to reduced amortization of intangible and fixed assets[18]. - Non-warranty business grew by 120.61% year-on-year, indicating a significant increase in service demand[20]. - Online order volume surged by 156.12% year-on-year, showcasing the company's enhanced online operational capabilities[20]. Future Outlook and Risks - The company plans to focus on improving operational processes and talent development to enhance franchise business capabilities[22]. - The company faces risks from changes in the competitive landscape of mobile brands and warranty policies, which could impact repair business volumes[23]. - The company expects to achieve profitability in the first half of 2021, following a successful turnaround in Q1 2021[34]. Fundraising and Investments - The company reported a total fundraising amount of RMB 20,971.92 million, with RMB 152.12 million invested in the current quarter[28]. - Cumulative changes in the use of raised funds amounted to RMB 10,824.44 million, representing 51.61% of the total raised funds[28]. - The "BaiBang Repair Franchise Construction Project" faced delays due to COVID-19, resulting in only 59.05% of the expected investment being achieved by the end of the reporting period[29]. - The "Lightning Bee E-commerce Platform Optimization Project" and "Information System Renovation Project" were terminated to improve fundraising efficiency, with funds redirected to permanent working capital[30][31]. Compliance and Governance - The company has no violations regarding external guarantees during the reporting period[35]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[36]. - The company did not conduct an audit for the first quarter report[70].

Financial Performance - The company's operating revenue for 2020 was ¥488,918,503.86, representing a 38.35% increase compared to ¥353,384,194.29 in 2019[19]. - The net profit attributable to shareholders was -¥87,497,124.21, a slight improvement of 5.87% from -¥92,950,034.98 in the previous year[19]. - The net cash flow from operating activities was -¥88,827,244.71, which decreased by 68.36% compared to -¥52,761,828.96 in 2019[19]. - The total assets at the end of 2020 were ¥271,707,158.53, down 21.71% from ¥347,043,957.37 at the end of 2019[19]. - The net assets attributable to shareholders decreased by 32.20% to ¥183,751,250.99 from ¥271,019,047.10 in 2019[19]. - The basic earnings per share for 2020 was -¥0.67, an improvement of 6.94% from -¥0.72 in 2019[19]. - The company reported a distributable profit of -97,345,368.12 CNY, indicating a loss during the reporting period[94]. - The net profit attributable to shareholders for 2020 was -87,497,124.21 CNY, indicating a loss[95]. - As of December 31, 2020, the profit available for distribution to shareholders was -97,345,368.12 CNY[95]. Revenue Breakdown - Total revenue for the year was approximately CNY 388.92 million, with a significant increase in the second quarter to CNY 198.02 million, representing a 336% growth compared to the first quarter[22]. - The company's total revenue for 2020 was CNY 488.92 million, representing a year-on-year increase of 38.35% compared to CNY 353.38 million in 2019[43]. - Revenue from mobile phone repairs was ¥206,312,098.12, accounting for 42.20% of total revenue, with an 18.05% year-on-year growth[50]. - New machine sales generated ¥212,125,109.25, a significant increase of 89.12% from ¥112,163,347.18 in 2019, representing 43.39% of total revenue[50]. - The online business revenue grew by 400% in 2020 compared to 2019, significantly contributing to the overall business growth[45]. Operational Developments - The company operates 147 service outlets and over 1,500 franchise stores across 30 provinces, indicating a strong national presence in the mobile after-sales service industry[29]. - The company has established long-term partnerships with major mobile brands such as Apple, Samsung, and Huawei, enhancing its service credibility and market reach[29]. - The company has developed a comprehensive service system that includes mobile repair, product sales, and value-added services, aiming to cover the entire lifecycle of mobile devices[30]. - The company launched a mobile screen protection service and a warranty service for second-hand phones, expanding its service offerings to meet consumer demands[32]. - The company has implemented a SaaS system for franchisees to improve operational efficiency and management capabilities, reflecting a strategic focus on empowering partners[32]. Cash Flow and Financial Position - The company's cash and cash equivalents decreased by CNY 69.19 million, a reduction of 35.58%, primarily due to operating losses and increased cash expenditures related to Huawei authorized repair services and new device sales[35]. - The company's intangible assets decreased by CNY 10.25 million, a decline of 62.05%, mainly due to amortization and impairment provisions[35]. - The company's net cash flow from operating activities decreased by 68.36% to -¥88.83 million in 2020 from -¥52.76 million in 2019, attributed to operating losses and increased investment in authorized repair services[66]. - Cash inflow from financing activities surged by 7,808.26% to ¥20 million in 2020, mainly due to a loan from the National Development Bank[66]. - Cash outflow from financing activities decreased by 95.94% to ¥1.66 million in 2020, as the company did not conduct stock buybacks or distribute dividends[66]. Investment and Project Management - The total committed investment amount is CNY 20,971.92 million, with a cumulative investment of CNY 19,623.61 million, achieving 93.55% of the planned investment[76]. - The "BaiBang Fast Repair Franchise Construction Project" faced delays due to COVID-19, resulting in lower than expected project investment and benefits[76]. - The "Lightning Bee E-commerce Platform Optimization Project" was terminated due to significant changes in market conditions, impacting its feasibility and expected returns[76]. - The company has adjusted its investment strategy to improve fund utilization efficiency in response to changing market conditions[76]. - The company plans to continue monitoring the feasibility of ongoing projects and adjust strategies as necessary to align with market dynamics[76]. Shareholder and Governance Matters - The company has a clear cash dividend policy, which has not changed during the reporting period, ensuring shareholder interests are maintained[93]. - The company decided not to distribute cash dividends or issue bonus shares for the fiscal year 2020[96]. - The company has committed to not distributing dividends during the lock-up period for its major shareholders[98]. - The company reported a commitment to repurchase shares if there are any false statements or omissions in the prospectus, with a plan to announce the repurchase details within ten trading days of such determination[99]. - The company has a structured remuneration decision-making process based on its articles of association and shareholder meeting rules[164]. Compliance and Internal Control - The company has maintained compliance with corporate governance standards, ensuring no undisclosed information was provided to major shareholders[178]. - The internal control evaluation report indicates no significant deficiencies were found during the reporting period[199]. - The evaluation emphasizes the need for effective internal control to ensure accurate financial reporting[200]. - The report highlights the importance of establishing anti-fraud procedures and control measures[200]. - The company adheres to strict information disclosure practices, enhancing transparency and protecting shareholder rights[186].

Financial Performance - Operating revenue for the reporting period was CNY 95,595,410.36, representing a year-on-year increase of 42.56%[8] - Net profit attributable to shareholders was a loss of CNY 6,653,337.85, a decrease of 24.63% compared to the same period last year[8] - Basic earnings per share were CNY -0.05, an increase of 28.57% compared to the same period last year[8] - The company reported a net loss of 47.41 million yuan at the end of the period, a decrease of 26.56 million yuan (-127.42%) compared to the beginning of the year, primarily due to increased operational losses[17] - The company reported a net loss of CNY 47.41 million for the period, compared to a loss of CNY 20.84 million at the end of 2019, indicating a worsening of approximately 127% in losses[39] - The company's net profit for Q3 2020 was -26,624,083.06 CNY, compared to -23,166,547.52 CNY in the previous period, indicating a decline of approximately 14.5%[54] Assets and Liabilities - Total assets at the end of the reporting period were CNY 301,949,888.43, a decrease of 12.99% compared to the end of the previous year[8] - The company reported a decrease in net assets attributable to shareholders by 9.33% compared to the previous year[8] - The company's total liabilities decreased to CNY 56.28 million from CNY 76.02 million, a reduction of about 26%[38][39] - Total assets as of September 30, 2020, were CNY 354,620,172.58, slightly up from CNY 352,857,611.66 at the end of 2019[43] - Total current assets increased to CNY 181,937,506.28 from CNY 179,361,735.07, reflecting a growth of about 1.5%[41] - Total non-current assets decreased to CNY 172,682,666.30 from CNY 173,495,876.59, a decline of approximately 0.5%[42] - Total liabilities decreased to CNY 53,393,947.63 from CNY 58,199,198.02, a reduction of about 8.5%[43] Cash Flow - The net cash flow from operating activities was CNY -37,332,033.42, down 64.10% year-to-date[8] - Cash flow from operating activities for the first nine months was -37.33 million yuan, an improvement of 66.67 million yuan (64.10%) year-on-year, attributed to the collection of sales proceeds and delayed procurement of new iPhones[20] - The net cash flow from operating activities was -37,332,033.42 CNY, an improvement from -103,997,538.61 CNY in the previous period, indicating a reduction in cash outflow[62] - The company reported a total cash outflow from operating activities of 414,178,089.85 CNY, compared to 363,165,029.01 CNY in the previous period[62] - The cash inflow from sales of goods and services was 155,256,778.83 CNY, a substantial increase from 10,885,951.07 CNY in the previous period[65] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,752[12] - The largest shareholder, Beijing Da'an Century Investment Management Co., Ltd., held 31.13% of the shares[12] - The company plans to repurchase and cancel 87,000 stock options and 144,000 restricted shares due to non-compliance with incentive qualifications and unmet performance targets[21] - The first unlock period for the 2019 restricted stock incentive plan was approved, allowing 99,904 shares to be released for trading[23] Operating Costs and Expenses - Operating costs for the first nine months totaled 302.68 million yuan, an increase of 140.91 million yuan (87.10%) year-on-year, reflecting higher costs associated with new machine sales and repair services[18] - Total operating costs for Q3 2020 were CNY 102,427,484.54, up from CNY 80,900,137.53 in Q3 2019, indicating a rise of about 26.5%[44] - The total operating costs for the year-to-date were CNY 376,760,406.42, up from CNY 236,470,400.81, reflecting an increase of about 59.3%[52] - The company reported a significant increase in sales expenses, totaling CNY 23,931,871.96, compared to CNY 19,890,000.00 in the previous period[53] Research and Development - Research and development expenses for the first nine months amounted to 3.95 million yuan, a decrease of 2.63 million yuan (-40.00%) year-on-year, due to reduced personnel configuration as systems were developed[19] - Research and development expenses for Q3 2020 were 3,945,726.53 CNY, slightly up from 3,577,434.01 CNY in the previous period[57] Government Subsidies - The company received government subsidies amounting to CNY 1,980,000.00 during the reporting period[10] Operational Strategy - The company plans to close unprofitable stores, which may increase short-term costs but aims to enhance operational efficiency and control losses[29] - The company is actively optimizing its structure and increasing new machine sales to mitigate the impact of COVID-19 and economic fluctuations on its repair business[29] Inventory and Receivables - Accounts receivable at the end of the period reached 25.53 million yuan, an increase of 7.55 million yuan (41.99%) compared to the beginning of the year, primarily due to increased sales and repair services[17] - Other receivables at the end of the period reached 19.67 million yuan, an increase of 7.92 million yuan (67.46%) compared to the beginning of the year, mainly due to increased rental deposits from newly opened stores[17] - The company's inventory decreased to CNY 13.84 million from CNY 17.82 million, a decline of approximately 22%[36]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥243,415,164.41, representing an increase of 86.45% compared to ¥130,552,205.01 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥19,906,879.26, a decrease of 38.83% from -¥14,338,966.84 in the previous year[18]. - The net cash flow from operating activities was -¥71,499,034.35, which is a decline of 174.77% compared to -¥26,021,671.08 in the same period last year[18]. - The total profit for the same period was a loss of CNY 29.10 million, a decrease of 53.39% year-on-year[52]. - The company reported a net loss of 724.57 million CNY for its subsidiary, Shanghai Baihua Yuebang Electronics Technology Co., Ltd., with an operating income of 10,601.35 million CNY[81]. - The company reported a net loss of CNY 40,751,788.23 in retained earnings, compared to a loss of CNY 20,844,908.97 at the end of 2019[151]. - The total comprehensive loss for the first half of 2020 was -¥19,905,527.12, compared to -¥14,338,966.84 in the same period of 2019[160]. Assets and Liabilities - The total assets at the end of the reporting period were ¥350,157,821.80, showing a slight increase of 0.90% from ¥347,043,957.37 at the end of the previous year[18]. - The total liabilities increased to CNY 98,101,926.07 from CNY 76,024,910.27, reflecting a significant rise of approximately 29%[151]. - The company's total equity decreased to CNY 252,055,895.73 from CNY 271,019,047.10, indicating a decline of about 7%[151]. - The cash and cash equivalents at the end of the period were CNY 113.15 million, down from CNY 253.33 million at the end of the first half of 2019[168]. - Accounts receivable increased significantly to ¥62,023,313.97 from ¥17,982,313.01, marking an increase of about 244%[148]. - The total current liabilities increased to CNY 97,729,271.72 from CNY 75,235,978.56, reflecting a growth of about 30%[150]. Operational Developments - The company operates 200 self-owned mobile service stores and over 1,500 franchise stores across 30 provinces and cities in China[26]. - The company has launched O2O on-site repair services in 100 major cities, enhancing its service coverage for consumers[27]. - The company has established long-term partnerships with major mobile brands, including Apple, Huawei, and Nokia, as authorized after-sales service providers[26]. - The company has trained over 600 technicians with Apple authorization and has developed 20 patented tools for mobile repair[44]. - The company has implemented a dynamic replenishment model based on sales forecasts, improving inventory turnover and reducing capital occupancy[45]. - The company has integrated online and offline services, enhancing cross-selling opportunities and increasing revenue streams[35]. Strategic Initiatives - The company is focusing on expanding its new machine sales, second-hand mobile business, and trade-in services in response to market changes[41]. - The company has migrated its data center to Alibaba Cloud, enhancing data security and operational efficiency[48]. - The company has established 26 distribution centers in provincial capitals to ensure over 80% of orders are delivered the next day[46]. - The company has introduced various membership services to provide comprehensive solutions for smartphone users[34]. - The company has improved key performance indicators such as store visit conversion rate and sales push rate, achieving a recovery to pre-pandemic business levels by Q2 2020[53]. Shareholder and Governance Matters - The company plans not to distribute cash dividends or issue bonus shares[6]. - The first temporary shareholders' meeting had an investor participation rate of 65.60%[88]. - The annual shareholders' meeting had an investor participation rate of 63.51%[88]. - The company has committed to not transferring or entrusting the management of its shares for a period of 36 months post-IPO[90]. - The company has a structured plan for share reduction that includes a maximum of 20% reduction per year after the lock-up period[91]. - The company has established a commitment to maintain the share reduction price at or above the initial public offering price during the lock-up period[91]. Compliance and Legal Matters - The company has not engaged in any derivative investments or entrusted loans during the reporting period[77][78]. - The company has not sold any significant assets or equity during the reporting period[79][80]. - The company has no significant litigation or arbitration matters during the reporting period[97]. - The company reported a total of 23.70 million yuan involved in a rental contract dispute, which has been filed but not yet adjudicated[97]. - A labor dispute case involving 32.76 million yuan has been filed, with an arbitration ruling issued but not yet finalized[97]. Financial Reporting and Audit - The company’s financial report for the first half of 2020 was not audited[146]. - The company has not issued a non-standard audit report for the previous year[96]. - The report was approved by the board of directors on August 26, 2020, indicating timely financial disclosure[189]. - The company’s financial statements are prepared in accordance with the Chinese Accounting Standards, ensuring compliance and transparency[194].