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].

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 net profit attributable to shareholders was a loss of CNY 19.91 million, down 38.83% compared to the previous year[52]. - The company's total comprehensive loss for the first half of 2020 was ¥19.91 million, compared to a loss of ¥14.34 million in the first half of 2019, reflecting ongoing challenges[159]. - The company reported a net loss of CNY 40,751,788.23, worsening from a loss of CNY 20,844,908.97 in the previous period[150]. - The total profit for the first half of 2020 was a loss of ¥29.10 million, compared to a loss of ¥18.97 million in the first half of 2019, indicating a worsening financial position[158]. 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 company's total liabilities increased to CNY 98,101,926.07 from CNY 76,024,910.27, reflecting a growth of approximately 29%[150]. - Owner's equity decreased to CNY 252,055,895.73 from CNY 271,019,047.10, indicating a decline of about 7%[150]. - The total equity at the end of the first half of 2020 was CNY 252,055,895.73, reflecting a decrease from CNY 403,071,971.49 in the same period of the previous year, indicating a decline of approximately 37%[176][177]. - The company's cash and cash equivalents decreased significantly to CNY 34,133,505.77 from CNY 97,593,821.33, a decrease of approximately 65%[152]. - Accounts receivable increased significantly to ¥62,023,313.97 from ¥17,982,313.01, marking a growth of about 244%[147]. - The total current liabilities increased to CNY 97,729,271.72 from CNY 75,235,978.56, reflecting a growth of about 30%[149]. 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 O2O on-site repair service has been launched in 100 major cities, providing multi-brand mobile repair and related services[27]. - The company has established a comprehensive service system consisting of mobile repair, product sales, and value-added services[28]. - The company has over 600 technicians with Apple authorized repair qualifications and has trained 683 technicians for franchisees through its alliance business[44]. - The company has developed 20 patented tools for mobile repair, leading the industry in technology[44]. - The company has implemented a dynamic replenishment model based on sales forecasts, improving inventory turnover and reducing capital occupation[45]. - The company has established 26 distribution centers in provincial capitals, achieving over 80% next-day delivery for orders[46]. Strategic Initiatives - The company has expanded its investment in new machine sales, second-hand mobile business, and trade-in services to ensure sustainable growth[41]. - The company emphasizes online resource investment and middle-platform support to adapt to changing consumer behaviors post-COVID-19[39]. - The company signed cooperation agreements with major e-commerce platforms to provide door-to-door services across 24 provinces and 100 cities[54]. - The company has committed a total investment of RMB 20,971.92 million, with an actual investment of RMB 15,803.23 million, achieving an investment progress of 75.41%[68]. - The company has adjusted its investment strategy to improve the efficiency of raised fund usage in response to market changes[68]. Risk Factors and Challenges - The company faces various risk factors and has outlined corresponding countermeasures in the report[5]. - The company noted a risk of consumers opting for cheaper non-original parts and unauthorized service providers, impacting its authorized repair business[81]. - The company faced significant operational challenges due to the COVID-19 pandemic, leading to a substantial decrease in revenue and increased pressure on costs such as rent and salaries[81]. - The company faces significant competition in the mobile after-sales service market, second-hand mobile market, and mobile sales market, primarily from unlisted companies, leading to a relatively disadvantaged position in market competition[83]. Shareholder and Governance Matters - The company has committed to not transferring or entrusting its shares for 36 months from April 1, 2015, and for 12 months from the date of listing[90]. - The company will conduct any share reductions through legal means recognized by the Shenzhen Stock Exchange, limiting annual reductions to 20% post-lock-up[90]. - The company has a share repurchase plan that requires approval from the shareholders' meeting[92]. - The company has established a governance structure to ensure compliance with legal and regulatory requirements[91]. - The company is committed to maintaining transparency and accountability in its financial reporting and governance practices[91]. Financial Reporting and Compliance - The financial report for the first half of 2020 was not audited[145]. - The company has not issued any non-standard audit reports during the reporting period[95]. - The company’s financial statements are prepared in accordance with the Chinese Accounting Standards, ensuring compliance and accuracy[193]. - The company’s accounting period is structured into annual and semi-annual reports, with the current report covering the first half of 2020[194]. Future Outlook - The company has not provided specific guidance for future performance, indicating a cautious outlook amid current market conditions[172]. - The company’s financial strategy appears to focus on recovery and stabilization rather than aggressive market expansion or new initiatives at this time[172].

Financial Performance - The company's operating revenue for 2019 was ¥353,384,194.29, a decrease of 43.96% compared to ¥630,556,651.24 in 2018[18] - The net profit attributable to shareholders was -¥92,950,034.98, representing a decline of 443.89% from a profit of ¥27,028,850.55 in the previous year[18] - The net cash flow from operating activities was -¥52,761,828.96, a significant drop of 204.73% compared to ¥50,381,172.15 in 2018[18] - The total assets at the end of 2019 were ¥347,043,957.37, down 26.38% from ¥471,418,956.15 at the end of 2018[18] - The net assets attributable to shareholders decreased by 32.76% to ¥271,019,047.10 from ¥403,071,971.49 in 2018[18] - The basic and diluted earnings per share were both -¥0.72, a decrease of 442.86% from ¥0.21 in 2018[18] - The weighted average return on equity was -28.04%, down 34.99% from 6.95% in the previous year[18] - The gross profit margin for mobile repair services was 31.59%, a decrease of 6.18% compared to the previous year[63] - The gross profit margin for 2019 was 13.25%, down 10.03% from the previous year[64] Revenue and Market Presence - The company reported a revenue of 353 million yuan in 2019, with a significant market presence across 30 provinces and regions in China[40] - The mobile repair service revenue was CNY 174.77 million, representing a decline of 38.69% year-on-year[61] - The company has expanded its service network to cover 30 provinces and regions, with 165 operating stores and over 1,500 franchise stores[44] - The company has launched O2O on-site repair services in 62 cities, aiming to expand this service to more regions in the future[28] - The mobile after-sales service market in China was estimated at approximately 28.27 billion yuan in 2018, with a projected growth in the second-hand mobile market driven by 5G technology[40] Cash Flow and Investments - Cash and cash equivalents decreased by 96.82 million yuan (33.24%) primarily due to operating losses and profit distribution to shareholders[43] - Operating cash inflow decreased by 34.09% to CNY 460,356,533.76, primarily due to a significant drop in revenue[72] - The investment cash inflow increased by 52.63% to CNY 1,416,330,929.47, attributed to increased trading frequency of financial products[73] - The company reported a total of CNY 221,190,055.29 in purchases from the top five suppliers, which accounted for 93.56% of total purchases[67] Risk Factors and Future Outlook - The company has outlined potential risk factors and countermeasures in its annual report[4] - The report includes forward-looking statements based on current plans and estimates, but actual results may differ significantly due to various uncertainties[6] - The company anticipates challenges due to economic downturns and operational restrictions caused by the COVID-19 pandemic, which may significantly impact revenue and operational costs[105] Shareholder and Dividend Policies - The company plans not to distribute cash dividends or issue bonus shares for the year[4] - The company’s total distributable profit as of December 31, 2019, was -¥20,844,908.97[113] - The company’s profit distribution plan for 2019 was approved by the board, with no cash dividends or stock bonuses proposed[114] - The company has a clear profit distribution policy in place, compliant with regulations and ensuring shareholder interests are protected[112] Corporate Governance and Management - The company has not conducted any investor meetings or communications during the reporting period[108] - The company’s board of directors includes members with diverse backgrounds, including experience in major international companies[199] - The company’s management team has a strong educational background, with degrees from prestigious institutions such as Peking University and Harvard Business School[199] Share Structure and Incentives - The total number of shares increased from 81,703,050 to 130,572,240, reflecting a dilution in earnings per share due to the equity distribution and stock incentive plan[177] - The company has implemented a restricted stock incentive plan in 2019, with a total of 252,900 shares granted to the incentive objects[140] - The company plans to repurchase and cancel 115,200 shares of restricted stock and 250,800 stock options due to unmet performance targets in the 2018 incentive plan[142] - The company has successfully completed the cancellation of 250,800 stock options and 115,200 restricted shares as of October 18, 2019[143] Compliance and Regulatory Matters - The company confirmed that there were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[121] - The company has committed to ensuring stable cash dividend levels in accordance with relevant laws and regulations[120] - The board of directors approved the accounting policy changes without requiring shareholder meeting approval[128] - The financial statements for 2019 were prepared according to the revised format issued by the Ministry of Finance on April 30, 2019[131]

Financial Performance - The company's operating revenue for 2019 was ¥353,384,194.29, a decrease of 43.96% compared to ¥630,556,651.24 in 2018[18]. - The net profit attributable to shareholders was a loss of ¥92,950,034.98, representing a decline of 443.89% from a profit of ¥27,028,850.55 in the previous year[18]. - The net cash flow from operating activities was negative at ¥52,761,828.96, a decrease of 204.73% compared to a positive cash flow of ¥50,381,172.15 in 2018[18]. - The total assets at the end of 2019 were ¥347,043,957.37, down 26.38% from ¥471,418,956.15 at the end of 2018[18]. - The net assets attributable to shareholders decreased by 32.76% to ¥271,019,047.10 from ¥403,071,971.49 in 2018[18]. - The basic and diluted earnings per share were both -¥0.72, a decline of 442.86% from ¥0.21 in 2018[18]. - The weighted average return on equity was -28.04%, a decrease of 34.99% from 6.95% in the previous year[18]. - The gross profit margin for 2019 was 13.25%, down 10.03% from the previous year[63]. - The mobile repair service revenue was CNY 174.77 million, representing a decline of 38.69% from the previous year[60]. Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year[4]. - The total cash dividend amount for 2019, including other methods, was ¥15,011,252.00, which accounted for 100% of the profit distribution total[110]. - The company did not distribute cash dividends or bonus shares for the 2019 fiscal year, and no capital reserve was converted into share capital[112]. - The cash dividend for 2018 was ¥24,492,195.00, representing 90.62% of the net profit attributable to shareholders[113]. - The cash dividend for 2017 was ¥36,929,916.00, which accounted for 93.17% of the net profit attributable to shareholders[113]. - The company has a clear profit distribution policy in place, ensuring reasonable returns for shareholders[109]. - The company’s cash dividend policy remained unchanged during the reporting period[109]. - The company’s available profit for distribution to shareholders as of December 31, 2019, was -¥20,844,908.97[111]. - The company’s board of directors decided not to distribute cash dividends for the 2019 fiscal year based on future funding needs[111]. Operational Strategy - The company has outlined potential risk factors and countermeasures in its annual report[4]. - The company reported a significant decline in net profit and revenue, indicating challenges in its business operations[18]. - The company has launched O2O on-site repair services in 62 cities, expanding its service offerings to meet online consumer demand[27]. - The company has increased investments in new device sales, second-hand mobile business, and trade-in services to adapt to market changes[40]. - The company has established long-term partnerships with major mobile brands, including Apple and Huawei, positioning itself as a leading service provider in the industry[26]. - The company aims to enhance the efficiency of fund usage by reallocating investments to more viable projects[83]. - The company is focusing on improving its operational efficiency and adapting to market changes through strategic project adjustments[83]. - The company will continue to focus on the electronic commerce and product sales business, which has broad market prospects, emphasizing channel construction and product development in 2020[101]. Investment and Financing - The company raised a total of ¥209.72 million through its initial public offering in 2018, with ¥112.48 million utilized by the end of 2019, leaving ¥97.24 million unutilized[82]. - The company has committed a total investment of 20,971.92 million CNY for various projects, with a cumulative investment of 11,247.71 million CNY, achieving 53.6% of the planned investment[83]. - The company has permanently supplemented its working capital with 9,032.31 million CNY, achieving 57.28% of the planned investment[83]. - The company has applied for a comprehensive credit limit of RMB 30 million from China Minsheng Bank, with the chairman providing a guarantee without any fees[147]. - The company also applied for a comprehensive credit limit of RMB 30 million from China Merchants Bank and RMB 10 million from Beijing Bank, with the chairman again providing a guarantee without fees[147]. Shareholder Commitments - The company has committed to not transferring or entrusting its shares for 36 months from April 1, 2015, and for 12 months from the date of listing[116]. - The lock-up period for shares will automatically extend by six months if the closing price is below the issue price for 20 consecutive trading days within six months post-listing[116]. - The company has fulfilled its commitments regarding share transfer restrictions as of January 9, 2019[116]. - The company will not repurchase its shares during the specified lock-up periods[116]. - The company has established a commitment to stabilize its stock price for three years post-IPO[118]. Risk Factors - The company anticipates risks from economic downturns and operational restrictions due to the COVID-19 pandemic, which could significantly impact revenue and increase operational pressure[103]. - The company has outlined specific conditions under which the lock-up period may be extended[116]. Human Resources and Training - The company trained 521 mobile repair engineers during the reporting period, enhancing its technical capabilities[44]. - The company is a member of the national skill standard setting group for information communication network terminal maintenance workers[158]. Governance and Compliance - The company confirmed that there were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[120]. - The board of directors stated that there were no non-standard audit reports for the reporting period[121]. - The company has included a new subsidiary, Xiaochang Baihua Yuebang Electronic Technology Co., Ltd., in the consolidated financial statements for the current year[131]. - The company has appointed Deloitte Huayong Certified Public Accountants as the annual audit firm for 2019, with an audit fee of 2.15 million yuan[132].

Financial Performance - Total revenue for Q1 2020 was ¥45,399,950.99, a decrease of 39.43% compared to ¥74,959,725.72 in the same period last year[8] - Net profit attributable to shareholders was -¥16,512,160.93, representing a decline of 244.44% from -¥4,793,886.60 year-on-year[8] - Basic and diluted earnings per share were both -¥0.13, a decrease of 116.67% from -¥0.06 in the same period last year[8] - The net loss for Q1 2020 was CNY 16.51 million, an increase in loss of 244.44% year-on-year, attributed to reduced revenue from the pandemic[21] - The net loss for the current period is ¥16,512,160.93, compared to a net loss of ¥4,793,886.60 in the previous period, indicating a significant increase in losses[55] - Total profit for the current period is -¥22,723,355.32, compared to -¥7,278,707.49 in the previous period, indicating a worsening financial position[54] Cash Flow - The net cash flow from operating activities improved by 50.99%, reaching -¥15,220,951.53 compared to -¥31,058,424.58 in the previous year[8] - The net cash flow from operating activities was -15,220,951.53, an improvement from -31,058,424.58 in the previous period, indicating a reduction in cash outflow[62] - Total cash inflow from operating activities was 59,131,719.37, down 28.2% from 82,337,079.52 in the previous period[62] - Cash outflow for purchasing goods and services was 40,272,266.62, a decrease of 36.5% compared to 63,432,498.14 in the previous period[62] - The net cash flow from investment activities was 459,753.82, a significant recovery from -2,939,671.48 in the previous period[63] - The ending balance of cash and cash equivalents was 179,711,375.60, down from 256,803,963.41 in the previous period[63] Assets and Liabilities - Total assets at the end of the reporting period were ¥337,801,704.10, down 2.66% from ¥347,043,957.37 at the end of the previous year[8] - Total liabilities increased from CNY 76,024,910.27 to CNY 82,830,474.40, an increase of about 8.9%[46] - Current liabilities increased from CNY 75,235,978.56 to CNY 82,249,681.37, representing an increase of approximately 9.4%[46] - Owner's equity decreased from CNY 271,019,047.10 to CNY 254,971,229.70, a decline of about 5.6%[47] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,382[13] - The largest shareholder, Beijing Da'an Century Investment Management Co., Ltd., held 31.20% of the shares, amounting to 40,735,280 shares[13] Operational Adjustments - The company has adjusted its annual operational goals in response to the pandemic's impact, ensuring all business operations have resumed as of the report date[26] - The company plans to enhance product design and development to provide diversified service products throughout the lifecycle of electronic products[28] - The company aims to maintain good relationships with multiple smartphone brands to mitigate risks associated with policy changes from manufacturers[30] - The company plans to accelerate mobile phone sales, second-hand mobile business, and franchise operations to enhance profitability[37] Research and Development - The company’s R&D expenses in Q1 2020 were CNY 1.70 million, a decrease of 42.67% year-on-year, due to a reduction in personnel as systems became more developed[21] - Research and development expenses decreased to ¥1,696,931.84 from ¥2,960,092.49, a reduction of 42.7%[53] Fund Management - The total amount of raised funds is CNY 20,971.92 million, with CNY 372.93 million invested in the current quarter[34] - Cumulative change in the purpose of raised funds amounts to CNY 10,824.44 million, representing 51.61% of the total raised funds[34] - The cumulative investment amount reached CNY 11,620.63 million, indicating a significant deployment of raised capital[34] - The company has terminated several investment projects due to changes in market conditions and is reallocating funds to enhance operational efficiency[35] Other Income - The company reported non-operating income of ¥2,006,578.77, primarily from government subsidies and other income[9] - Other income for the current period is reported at ¥1,981,273.28, with investment income at ¥441,333.67, down from ¥1,453,768.51 in the previous period[53]

Financial Performance - Operating revenue for the period was CNY 67,057,947.47, a decline of 49.82% year-on-year[8] - Net profit attributable to shareholders was a loss of CNY 8,827,580.68, representing a decrease of 504.28% year-on-year[8] - Basic earnings per share were -CNY 0.07, down 333.33% compared to the same period last year[8] - The company's operating revenue for the first nine months was 197.61 million yuan, a decrease of 145.73 million yuan (-42.45%) year-on-year, mainly due to a decline in maintenance and sales revenue[20] - Total operating revenue for Q3 2019 was ¥67,057,947.47, a decrease of 50.1% compared to ¥133,632,725.50 in Q3 2018[49] - The net profit for Q3 2019 was CNY 23,454,950.50, a decrease from CNY 24,035,959.21 in the previous period[64] Assets and Liabilities - Total assets decreased by 11.35% to CNY 417,891,531.35 compared to the end of the previous year[8] - The company's total liabilities at the end of the period were 590.11 million yuan, a decrease of 569.19 million yuan (-49.10%) compared to the beginning of the year, mainly due to reduced payables to suppliers[19] - Current assets decreased to CNY 314,909,639.21, down 14.3% from CNY 367,655,390.27 year-over-year[40] - The company's total liabilities decreased to ¥53,571,049.43 from ¥137,847,034.17, a reduction of 61.1% year-over-year[48] - The company reported a significant increase in prepayments to CNY 37,025,930.83, compared to CNY 3,450,278.22, reflecting a growth of 975.5%[40] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 103,997,538.61, a decrease of 39.01% year-on-year[8] - Cash flow from operating activities was CNY 259,167,490.40, down from CNY 415,737,629.80 in the previous period, indicating a decline of approximately 37.6%[66] - The net cash flow from operating activities was -CNY 103,997,538.61, an improvement from -CNY 170,527,786.85 in the previous period[68] - The company experienced a net decrease in cash and cash equivalents of -CNY 151,043,888.94 during the period[69] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,437[12] - The top ten shareholders held a combined 66.12% of the company's shares, with the largest shareholder owning 31.17%[12] - The company distributed a cash dividend of RMB 3.00 per 10 shares to shareholders, with a capital reserve increase of 6 shares per 10 shares[33] Research and Development - Research and development expenses for the first nine months amounted to 6.58 million yuan, an increase of 6.58 million yuan (100.00%) year-on-year, due to increased investment in the information system for alliance stores[21] - Research and development expenses for Q3 2019 were ¥2,755,836.73, indicating ongoing investment in innovation[49] - Research and development expenses for Q3 2019 amounted to CNY 6,576,697.02, indicating ongoing investment in innovation[59] Investment and Income - The company reported non-operating income of CNY 5,459,781.98 for the year-to-date period[10] - The company's investment income for the first nine months was 4.46 million yuan, an increase of 1.87 million yuan (72.29%) year-on-year, resulting from improved cash management[21] - The company reported investment income of ¥33,180,174.64 for the parent company, a significant increase from ¥209,027.96 in the previous period[54] Stock and Incentives - The company plans to repurchase shares with a total amount not less than RMB 15 million and not exceeding RMB 30 million, with a price cap adjusted to RMB 19.47 per share[30] - The company has implemented a stock incentive plan with 252,900 restricted stocks granted, with the registration completed on June 21, 2019[29] - The company has adjusted the number of rights granted and repurchase prices for its stock incentive plan[26] Other Information - The company has no violations regarding external guarantees during the reporting period[35] - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[36] - The third quarter report of Beijing Baihua Yuebang Technology Co., Ltd. is unaudited[73] - The company has not applied new financial instrument standards or new leasing standards for the financial statements since 2019[73]

Financial Performance - Total revenue for the first half of 2019 was ¥130,552,205.01, a decrease of 37.75% compared to ¥209,708,946.58 in the same period last year[18]. - Net profit attributable to shareholders was -¥14,338,966.84, representing a decline of 174.41% from ¥19,270,065.76 in the previous year[18]. - The net cash flow from operating activities was -¥26,021,671.08, a significant drop of 211.57% compared to ¥23,323,707.72 in the same period last year[18]. - Basic earnings per share were -¥0.18, down 175.00% from ¥0.24 in the previous year[18]. - The operating profit was RMB -21.79 million, representing a decline of 201% year-on-year[51]. - The gross margin for mobile phone repair services was 21.92%, down 38.78% compared to the previous year[54]. - The company reported a comprehensive loss of CNY 14,338,966.84 for the first half of 2019, compared to a loss of CNY 19,349,391.36 in the same period of 2018, indicating an improvement of approximately 26.1% year-over-year[170]. Assets and Liabilities - Total assets at the end of the reporting period were ¥438,957,792.78, a decrease of 6.89% from ¥471,418,956.15 at the end of the previous year[19]. - Total liabilities as of June 30, 2019, were CNY 88,213,700.83, a decrease of 36.1% from CNY 137,847,034.17 at the end of 2018[152]. - The company's equity attributable to shareholders decreased to CNY 383,722,580.13 from CNY 403,071,971.49, a decline of 4.8%[150]. - Cash and cash equivalents decreased to RMB 253,329,749.69 from RMB 291,310,595.60, representing a decline of approximately 13.0%[144]. - The total amount of retained earnings at the end of the reporting period was CNY 96,432,916.00, reflecting a decrease from CNY 111,640,454.60 in the previous year[176]. Cash Flow - The net cash flow from operating activities for the first half of 2019 was -26,021,671.08 RMB, a significant decline compared to 23,323,707.72 RMB in the same period of 2018[162]. - The total cash inflow from investment activities was 889,282,013.35 RMB, up from 393,244,136.02 RMB in the first half of 2018, indicating a strong increase in investment recovery[163]. - The company reported a total cash outflow from financing activities of 6,169,712.31 RMB, compared to 44,738,675.71 RMB in the first half of 2018, showing a reduction in financing outflows[163]. Strategic Initiatives - The company plans to develop 1,000 franchise stores and 10,000 membership stores nationwide within two years[49]. - The company is investing in new business developments, including alliance store expansions[80]. - The company is focusing on improving operational efficiency and exploring new market opportunities to recover from the current financial downturn[155]. Risk Factors and Management - The company faces various risk factors and has outlined corresponding countermeasures in the report[5]. - There are risks associated with franchise management and potential further declines in company performance due to reliance on Apple service revenue[81]. - The company plans to optimize its organizational structure and improve management efficiency to address rising management costs[81]. Shareholder Information - The company has implemented an employee stock incentive plan, granting 240,000 restricted stocks at a price of 13.9133 yuan per share, representing 0.29% of the total share capital[98]. - The largest shareholder, Beijing Da'an Century Investment Management Co., Ltd., holds 31.08% of the shares, totaling 25,390,800 shares, with 11,800,000 shares pledged[128]. - The company’s total share capital as of June 30, 2019, was ¥81,703,050.00, with a par value of ¥1 per share[187]. Compliance and Governance - The financial report for the first half of 2019 was not audited[142]. - The company has not encountered any issues or problems in the use and disclosure of fundraising during the reporting period[73]. - The company’s financial statements were approved by the board of directors on August 30, 2019[189].

Financial Performance - Total revenue for Q1 2019 was ¥74,959,725.72, a decrease of 27.31% compared to ¥103,123,782.97 in the same period last year[8] - Net profit attributable to shareholders was -¥4,793,886.60, representing a decline of 146.60% from ¥10,287,406.61 year-on-year[8] - Net profit after deducting non-recurring gains and losses was -¥8,233,190.21, a decrease of 224.16% compared to ¥6,631,138.59 in the previous year[8] - Basic earnings per share were -¥0.06, a decline of 146.15% from ¥0.13 year-on-year[8] - The company reported a total profit loss of ¥7,278,707.49, compared to a profit of ¥13,216,542.15 in the previous period[48] - Operating profit turned negative at -¥10,055,983.62, down from ¥10,645,014.69 in the prior period[48] - The net loss for Q1 2019 was CNY 4.79 million, a decrease of 146.60% year-on-year, resulting from lower mobile repair income[20] Cash Flow - Net cash flow from operating activities was -¥31,058,424.58, down 229.26% from ¥24,028,140.74 in the same period last year[8] - The net cash flow from operating activities was -31,058,424.58 CNY, compared to 24,028,140.74 CNY in the previous period, indicating a significant decline[56] - The cash inflow from sales of goods and services was 2,460,050.47 CNY, a decrease from 20,100,175.72 CNY in the previous period, indicating a decline in revenue generation[60] - The company reported a net decrease in cash and cash equivalents of -34,506,632.19 CNY, contrasting with an increase of 225,413,651.02 CNY in the previous period[58] - The total cash and cash equivalents at the end of the period were 256,803,963.41 CNY, down from 320,189,638.63 CNY in the previous period[58] Assets and Liabilities - Total assets at the end of the reporting period were ¥449,953,043.71, a decrease of 4.55% from ¥471,418,956.15 at the end of the previous year[8] - Net assets attributable to shareholders were ¥398,480,255.94, down 1.14% from ¥403,071,971.49 at the end of the previous year[8] - Current liabilities decreased to CNY 48,025,869.21 from CNY 64,830,686.54, representing a reduction of approximately 26%[40] - The total liabilities decreased to CNY 51,472,787.77 from CNY 68,346,984.66, reflecting a reduction of approximately 24.7%[40] - The total equity attributable to shareholders decreased to CNY 398,480,255.94 from CNY 403,071,971.49, a decrease of approximately 1.4%[41] Inventory and Receivables - As of March 31, 2019, inventory balance increased by 57.96% to CNY 24.41 million, attributed to changes in Apple's repair parts supply policy[19] - Inventory rose significantly to ¥24,406,036.68, up from ¥15,450,677.57, indicating an increase of approximately 58.2%[38] - Accounts receivable increased to ¥28,454,950.73 from ¥25,945,682.70, reflecting a growth of about 9.7%[38] Expenses - Sales expenses in Q1 2019 were CNY 6.23 million, a decrease of 45.19% year-on-year, due to enhanced cost control measures[20] - Research and development expenses increased to ¥2,960,092.49 from ¥2,508,827.58, reflecting a growth of about 17.9% year-over-year[46] - Sales expenses decreased significantly to ¥6,233,752.32 from ¥11,373,965.45, a reduction of approximately 45.2% year-over-year[46] Strategic Developments - The company reported no significant changes in its strategy or new product developments during the quarter[10] - The company anticipates a substantial decline in net profit for the first half of 2019 compared to the same period last year, primarily due to a decrease in iPhone shipments in China and increased costs associated with new business developments[31] - The company plans to enhance service capabilities, optimize operational processes, and improve management efficiency to boost profitability[31] - The company is committed to developing new growth points through on-site repair services, platform business, and alliance business[31] Government Support and Investments - The company received government subsidies amounting to ¥2,770,000.00 during the reporting period[9] - The cumulative investment amount in fundraising projects as of the report date was ¥101,474,774.09[30] - The total amount of raised funds used for temporary working capital was ¥100 million, which was fully returned to the special account for raised funds by January 4, 2019[30] Shareholder Information - The top shareholder, Beijing Da'an Century Investment Management Co., Ltd., holds 31.08% of shares, totaling 25,390,800 shares[12] - The company approved a share repurchase plan on March 22, 2019, but has not yet implemented the buyback[25] Compliance and Audit - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[34] - The company has not engaged in any violations regarding external guarantees during the reporting period[33] - The company did not conduct an audit for the first quarter report, which may affect the reliability of the financial data presented[63]