证券代码：300792 证券简称：壹网壹创 杭州壹网壹创科技股份有限公司 投资者关系活动记录表 编号：2019-001 | --- | --- | --- | |----------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

证券代码：300792 证券简称：壹网壹创 杭州壹网壹创科技股份有限公司 投资者关系活动记录表 编号：2020-004 | --- | --- | --- | |---------------------------|-------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

杭州壹网壹创科技股份有限公司 投资者关系活动记录表 编号：2022-001 | --- | --- | --- | |-------------------------|-----------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活 动类别 | □特定对象调研 □媒体采访 □新闻发布会 □路演活动 □现场参观 | ...

Financial Performance - The company's revenue for Q3 2022 reached ¥382,976,838.51, representing a 57.69% increase year-over-year, and a total revenue of ¥1,015,342,708.74 for the year-to-date, up 39.23% compared to the same period last year [6] - Net profit attributable to shareholders decreased by 45.58% in Q3 2022 to ¥41,936,524.31, with a year-to-date net profit of ¥146,909,522.80, down 27.83% [6] - The basic and diluted earnings per share for Q3 2022 were both ¥0.18, reflecting a decline of 45.45% compared to the same quarter last year [6] - The company achieved a cumulative GMV of 15.653 billion RMB and revenue of 1.015 billion RMB in Q3 2022, with a net profit of 136 million RMB, indicating a slight growth in GMV but a decline in net profit compared to the same period last year [10] - The company reported a total revenue of 24,304 million for Q3 2022, maintaining a steady performance compared to previous quarters [21] - Net profit for Q3 2022 was CNY 160,396,437.62, a decrease of 27.8% from CNY 222,072,180.08 in Q3 2021 [30] - Earnings per share (EPS) for Q3 2022 was CNY 0.62, down from CNY 0.92 in the previous year [31] Assets and Liabilities - The total assets at the end of Q3 2022 were ¥3,279,808,302.80, a decrease of 4.15% from the end of the previous year [6] - The company's total liabilities decreased by 40.40% to ¥166,427,682.59, reflecting payments made towards subsidiary acquisition progress [9] - Total liabilities decreased to CNY 488,079,404.82 from CNY 689,895,350.55 in the previous quarter, indicating a reduction in financial obligations [28] - The company reported a total equity of CNY 2,791,728,897.98, up from CNY 2,731,878,459.72 in the previous quarter, indicating growth in shareholder value [28] Cash Flow - Cash flow from operating activities showed a net outflow of ¥79,120,828.11, a decline of 64.41% compared to the same period last year [9] - Operating cash inflow for the current period reached ¥1,780,710,144.55, an increase of 38.7% compared to ¥1,283,807,815.47 in the previous period [32] - Net cash flow from operating activities was -¥79,120,828.11, worsening from -¥48,125,477.64 in the previous period [32] - Cash outflow from investing activities totaled ¥245,355,111.11, a decrease of 44.7% from ¥442,795,251.26 in the previous period [33] - The ending balance of cash and cash equivalents was ¥1,061,978,371.61, down from ¥1,446,498,136.34 in the previous period [33] Inventory and Expenses - Inventory increased by 82.89% to ¥330,867,267.20, attributed to an increase in distribution projects and procurement for the Double Eleven shopping festival [9] - Research and development expenses for Q3 2022 were ¥28,628,816.43, a 39.16% increase compared to the same quarter last year, indicating a focus on innovation [9] - Operating costs for the same period were CNY 848,768,476.24, up 70.2% from CNY 498,898,386.85 year-over-year [29] Market and Growth Strategies - The company is actively investing in new product development, particularly in technology enhancements aimed at improving user experience and engagement [22] - Market expansion strategies include targeting new geographic regions, with plans to enter at least two new markets by the end of 2023 [21] - The company is exploring potential mergers and acquisitions to enhance its market position and diversify its product portfolio [22] - Future outlook remains positive, with the company projecting a revenue growth of approximately 15% for the next quarter, driven by increased demand for its services [21] Shareholder and Executive Management - The total number of restricted shares held by executives decreased, with Lin Zhenyu holding 18,334,786 shares after a release of 4,938,356 shares [17] - The company has a structured release schedule for restricted shares, with specific timelines for each phase ranging from 12 to 60 months [20] - The report indicates a focus on maintaining executive shareholding stability while managing incentive structures [19] - The company is committed to transparency in its shareholding structure, providing detailed information on restricted shares [20] Sustainability and Future Initiatives - The company is committed to sustainability, with plans to reduce carbon emissions by 25% over the next three years through various green initiatives [22] - A new technology initiative is set to launch in Q4 2022, expected to significantly boost operational efficiency and reduce costs by 10% [21]

Financial Performance - The company reported a revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 25%[2]. - The company has set a revenue guidance of RMB 1.2 billion for the full year 2022, indicating a projected growth of 20%[2]. - The company's operating revenue for the reporting period was ¥632,365,870.23, representing a 30.00% increase compared to ¥486,418,800.78 in the same period last year[26]. - The net profit attributable to shareholders decreased by 17.02% to ¥104,972,998.49 from ¥126,502,821.20 year-on-year[26]. - The net profit after deducting non-recurring gains and losses was ¥96,169,951.90, down 16.21% from ¥114,774,879.02 in the previous year[26]. - The company's revenue for the reporting period reached ¥632,365,870.23, representing a 30.00% increase compared to ¥486,418,800.78 in the same period last year[73]. - Net profit for the first half of 2022 was ¥112,297,874.01, a decrease of 19% from ¥138,535,995.62 in the previous year[198]. User Growth and Market Expansion - User data showed a growth in active users to 1.2 million, up 15% compared to the previous period[2]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[2]. - The company reported a 230% year-on-year GMV growth on Pinduoduo and a 90% growth on Douyin, indicating strong performance in these channels despite a challenging market environment[50]. Product Development and R&D - New product launches contributed to a 30% increase in sales volume in Q2 2022[2]. - Research and development expenses increased by 40% to RMB 50 million, focusing on cloud-native technologies[2]. - Management and R&D expenses rose to 47.463 million yuan and 21.159 million yuan respectively, marking increases of 39% and 109.74% year-on-year, reflecting the company's commitment to organizational and technological development[51]. - Research and development expenses increased to ¥21,158,770.55, compared to ¥10,088,118.35 in the previous year, indicating a 109% rise in investment in innovation[198]. Financial Position and Cash Flow - The net cash flow from operating activities improved by 34.59%, reaching -¥40,113,113.58 compared to -¥61,324,453.60 in the same period last year[27]. - The total assets at the end of the reporting period were ¥3,340,008,836.90, a decrease of 2.39% from ¥3,421,773,810.27 at the end of the previous year[27]. - The company's cash and cash equivalents decreased to ¥1,298,484,003.42, down from ¥1,526,121,386.53, a decline of 5.72% due to cash outflows from investment and financing activities[79]. - The company's current assets decreased to CNY 2,125,288,555.44 from CNY 2,283,283,545.66, reflecting a decline of approximately 6.9%[190]. Operational Efficiency and Strategy - The company has implemented a Six Sigma approach to optimize operational processes, improving efficiency and effectiveness in e-commerce operations[67]. - Automation tools have been introduced across 105 execution nodes, achieving a 20%-30% increase in operational efficiency[68]. - The company has developed a one-stop service capability covering the entire online brand management process, providing multi-dimensional value-added services to clients[66]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[118]. - The company completed a private placement of 22,310,037 shares at a price of 40.13 RMB per share, raising a total of 895,301,784.81 RMB[155]. - The total number of shareholders at the end of the reporting period is 25,541[174]. - The largest shareholder, Hangzhou Yiwang Yichuang Brand Management Co., Ltd., holds 35.09% of the total shares, amounting to 83,757,996 shares[174]. Risks and Challenges - The management highlighted risks related to market competition and regulatory changes, emphasizing the need for strategic adjustments[2]. - The e-commerce industry remains competitive, with risks related to market environment and the need for timely strategy adjustments to maintain competitive advantages[108]. - Stock price volatility is influenced by macroeconomic conditions and market supply-demand dynamics, posing risks to investors even with stable company operations[112]. Environmental and Compliance - The company has not faced any significant environmental penalties during the reporting period and is not classified as a key pollutant discharge unit[126]. - The company has implemented measures to strengthen environmental supervision and management, ensuring compliance with environmental protection policies[126]. - There were no major litigation or arbitration matters during the reporting period[135].

Financial Performance - The company's revenue for Q1 2022 was CNY 266,416,289.63, representing a 19.58% increase compared to CNY 222,799,411.29 in the same period last year[4]. - The net profit attributable to shareholders decreased by 2.38% to CNY 51,881,019.01 from CNY 53,145,434.60 year-on-year[4]. - The net profit after deducting non-recurring gains and losses increased by 3.93% to CNY 51,084,575.22 compared to CNY 49,154,276.97 in the previous year[4]. - The total revenue for the first quarter was CNY 266,416,289.63, an increase of 19.6% compared to CNY 222,799,411.29 in the previous year[37]. - Net profit for the period was CNY 55,561,922.00, a decrease of 5.0% from CNY 58,939,070.04 in the same quarter last year[38]. - The total comprehensive income for the period was CNY 56,346,974, a decrease from CNY 59,515,472 in the previous period[39]. - Basic and diluted earnings per share were both CNY 0.22, down from CNY 0.25 in the previous period[39]. Cash Flow and Assets - The company's cash flow from operating activities showed a significant decline, with a net outflow of CNY 113,566,287.59, a decrease of 265.21% from CNY -31,095,807.81 in the same period last year[4]. - Cash inflows from operating activities totaled CNY 500,695,854.47, compared to CNY 418,090,574.12 in the previous period, representing an increase of approximately 19.7%[41]. - Cash outflows from operating activities amounted to CNY 614,262,142.06, up from CNY 449,186,381.93, indicating a rise of about 37%[42]. - The net cash flow from operating activities was negative at CNY -113,566,287.59, worsening from CNY -31,095,807.81 in the previous period[42]. - Cash and cash equivalents at the end of the period were CNY 1,330,248,041.78, down 12.8% from CNY 1,526,121,386.53 at the beginning of the year[34]. - Total assets at the end of the reporting period were CNY 3,361,695,140.55, down 1.76% from CNY 3,421,773,810.27 at the end of the previous year[4]. - Total liabilities decreased to CNY 604,167,085.88 from CNY 689,895,350.55, a decline of 12.4%[36]. - Equity attributable to shareholders increased to CNY 2,671,460,396.60 from CNY 2,649,491,704.64, reflecting a growth of 0.8%[36]. Expenses and Investments - The company's research and development expenses increased by 80.74% to CNY 11,253,604.32 compared to CNY 6,226,403.16 in the previous year[8]. - The company experienced a 94.65% increase in sales expenses, totaling CNY 29,485,375.94, primarily due to the growth in online sales services[8]. - Total operating costs amounted to CNY 204,225,894.87, up 31.1% from CNY 155,753,464.05 in the prior year[37]. - The company is investing heavily in R&D, allocating 20% of its revenue towards developing new technologies and products[20]. - The company is focused on maintaining investment in automation R&D to deliver on projects completed in 2021[13]. Market and Strategic Initiatives - The company signed contracts with 11 new brands, including Mentholatum and Heart Makeup, during the quarter[10]. - The gross merchandise volume (GMV) for the brands served by the company reached CNY 4.804 billion, a year-on-year increase of 12.78%[10]. - The anticipated government subsidies of approximately RMB 4 million were delayed due to severe pandemic conditions in Hangzhou, impacting Q1 performance[13]. - The company plans to expand its market presence through strategic partnerships and new product launches in the upcoming quarters[22]. - Market expansion plans include entering two new international markets by the end of 2022, aiming for a 10% market share in each[19]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 50 million allocated for potential deals[20]. Future Outlook - The company provided a positive outlook for the upcoming quarters, projecting a revenue growth of 15% for the next quarter[20]. - Future guidance suggests a projected revenue growth of approximately 15% year-over-year for the next quarter[22]. - A new product line is expected to be launched by Q3 2022, aimed at capturing a larger market share in the tech sector[22]. - New product launches are expected to drive additional revenue, with an estimated contribution of 1 million in sales from the new offerings[19]. Shareholder and Governance - The total number of ordinary shareholders at the end of the reporting period was 25,164, with the largest shareholder holding 35.09%[14]. - The company’s major shareholder, Hangzhou Wang Chuang Brand Management Co., holds 83,757,996 shares, all of which are pledged[14]. - The company’s stock structure includes significant holdings by various investment funds, with the top ten shareholders holding a combined substantial percentage of shares[16]. - The company held its first temporary shareholders' meeting of 2022 on March 31, 2022, approving the election of the third board of directors and the third supervisory board[31]. - The management team is undergoing changes, with a new CFO appointed to enhance financial strategy and oversight[22]. Share Repurchase and Capital Management - The company completed a private placement of 22,310,037 shares at a price of RMB 40.13 per share, raising a total of RMB 895,301,784.81, with a net amount of RMB 888,141,552.10 after deducting issuance costs[26]. - As of March 31, 2022, the company repurchased 883,301 shares, accounting for 0.3701% of the total share capital, with a total transaction amount of RMB 30,692,735.43[29]. - The maximum repurchase price for shares is set at RMB 50.00 per share, with a total repurchase fund not less than RMB 50 million and not exceeding RMB 100 million[28]. - The company’s board of directors approved a share repurchase plan on March 11, 2022, aimed at implementing equity incentives and/or employee stock ownership plans[28]. - The highest transaction price during the share repurchase was RMB 36.69 per share, while the lowest was RMB 33.88 per share[29].

Dividend and Financial Performance - The company plans to distribute a cash dividend of RMB 2.50 per 10 shares (including tax) to all shareholders, with no bonus shares issued[5]. - The company's operating revenue for 2021 was ¥1,135,069,974.52, a decrease of 12.59% compared to 2020[21]. - The net profit attributable to shareholders for 2021 was ¥326,780,818.76, an increase of 5.39% from the previous year[21]. - The net cash flow from operating activities decreased by 93.73% to ¥27,511,568.61 in 2021[21]. - The total assets at the end of 2021 reached ¥3,421,773,810.27, representing a 69.89% increase from the end of 2020[22]. - The basic earnings per share for 2021 was ¥1.45, up 5.84% from ¥1.37 in 2020[21]. - The company reported a total of ¥67,490,934.97 in non-recurring gains and losses for 2021, significantly higher than ¥25,903,543.18 in 2020[27]. - The net profit after deducting non-recurring gains and losses was ¥259,289,883.79, a decrease of 8.75% compared to 2020[21]. - The company’s weighted average return on equity for 2021 was 16.33%, down from 22.38% in 2020[21]. Market Expansion and Strategic Initiatives - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development and strategic partnerships[14]. - Future outlook includes plans for market expansion and potential mergers and acquisitions to strengthen competitive positioning[14]. - The company has set ambitious performance targets for the upcoming fiscal year, aiming for a substantial increase in revenue and market share[16]. - The company is exploring potential mergers and acquisitions to strengthen its market position[171]. - The company aims to solidify its core advantages in full-domain e-commerce services and enhance brand empowerment through refined operations on platforms like Tmall and JD[145]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by the end of 2023[198]. Operational Efficiency and Innovation - The company aims to improve its operational efficiency by adopting lean management and Six Sigma practices[14]. - The company is committed to enhancing its user data analytics capabilities to better understand customer preferences and improve service delivery[14]. - The management team is focused on continuous innovation and the development of new products to meet evolving consumer demands[14]. - The company has implemented robust data security measures, including cloud-based systems and regular backups, to protect sensitive information[48]. - The company is committed to advancing its technology and service capabilities to maintain a competitive edge in the rapidly evolving e-commerce landscape[46]. - The company aims to improve operational efficiency and reduce costs by 10% in the next fiscal year[171]. - The company is focused on the development of new products, including a next-generation software platform expected to launch in Q3 2022[198]. User Growth and Customer Engagement - The company has seen significant user growth, with a reported increase in active users by 30% year-on-year[171]. - The company emphasizes the importance of CRM management to increase brand-consumer interaction and enhance customer loyalty, ultimately driving revenue growth[60]. - Customer satisfaction ratings improved to 90%, reflecting the effectiveness of recent service enhancements[174]. Financial Management and Investments - The company has established a complete risk control system, achieving "zero risk" in operations since its implementation[66]. - The company reported a total revenue of 30,665 million in 2021, an increase of 47.18% compared to the previous year[168]. - The company has utilized self-owned funds for its investments, indicating a strong reliance on internal financing[126]. - The company reported an investment income of CNY 61.70 million, contributing 13.90% to total profit, mainly from dividends received from affiliated companies[113]. - The company has completed the investment projects and plans to permanently supplement working capital with the remaining raised funds[199]. Governance and Compliance - The company strictly adheres to legal requirements for corporate governance, ensuring the independence of its assets, business, personnel, organization, and finances from its controlling shareholders[161]. - The company has a governance structure that includes a board of directors with 9 members, of which 3 are independent directors, ensuring compliance with relevant regulations[158]. - The company has implemented a comprehensive governance framework that includes a shareholders' meeting, board of directors, and supervisory board, all operating in accordance with legal requirements[157]. - The company emphasizes transparency and timely information disclosure, utilizing multiple channels for investor communication[159]. Challenges and Market Risks - The company anticipates challenges from market environment risks due to intense competition and the emergence of new e-commerce service providers[150]. - Seasonal fluctuations in performance are expected, particularly with significant revenue contributions during major shopping events like "Double Eleven" and "618"[151]. - The company's operations are heavily reliant on major e-commerce platforms, and any adverse changes in these platforms could negatively impact business performance[152].

Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.50 per 10 shares (including tax) to all shareholders, with no bonus shares issued[6]. - The company implemented a cash dividend policy, distributing a total of 59,397,893.25 CNY, which accounted for 100% of the profit distribution[200]. - Each 10 shares received a cash dividend of 2.50 CNY (including tax) during the reporting period[199]. Financial Performance - The company reported a significant increase in Gross Merchandise Volume (GMV), reflecting a strong performance in the e-commerce sector[13]. - The financial report indicates a robust year-over-year growth in revenue, showcasing the company's resilience in a competitive market[16]. - Net profit attributable to shareholders for 2021 was ¥326,780,818.76, an increase of 5.39% from the previous year[21]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB in 2021, representing a year-over-year growth of 25%[157]. - The company reported a net profit margin of 10% for 2021, which is an improvement from 8% in 2020[157]. Market Expansion and Strategy - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development and strategic partnerships[14]. - Future outlook includes a commitment to innovation and the introduction of new products to meet evolving consumer demands[14]. - The company plans to expand its market presence and invest in new technologies to drive future growth[151]. - The company aims to enhance user engagement and retention through innovative product offerings[151]. - The company is focusing on market expansion, targeting a 15% increase in market share in the next fiscal year through strategic partnerships and marketing campaigns[157]. Operational Efficiency - The company aims to improve its operational efficiency by implementing lean management and Six Sigma practices[14]. - The company has established a comprehensive risk control system, achieving "zero risk" in operations since its implementation[67]. - Automation initiatives led to an average efficiency improvement of 20% across various operational processes, with over 200 automated business scenarios developed[67]. - The company aims to enhance operational management efficiency by 10% through the implementation of a comprehensive business intelligence plan[91]. Risk Management - The management highlighted potential risks in the industry and emphasized the importance of risk awareness among investors[6]. - The company faces risks from intensified industry competition, which may affect its pricing power and profitability[44]. - The company acknowledges risks related to market environment, including intense competition and the need for timely strategy adjustments to maintain its competitive edge[132]. E-commerce Growth - The company has established a strong online presence, contributing to its overall sales growth and customer engagement[13]. - The total online retail sales in China for 2021 reached ¥13.1 trillion, growing by 14.1% year-on-year[32]. - The e-commerce service industry is expected to continue its steady growth, driven by the increasing number of online users and the expansion of the e-commerce market[38]. - The company has established itself as a leading e-commerce service provider with comprehensive operational capabilities across all categories, brands, and channels[39]. Research and Development - Research and development expenses rose by 83.83% to ¥25.30 million, reflecting increased investment in R&D[89]. - Research and development (R&D) investment amounted to ¥25,299,545.32 in 2021, representing 2.21% of operating revenue, an increase from 1.06% in 2020[93]. - The number of R&D personnel increased by 117.65% from 68 in 2020 to 148 in 2021, with a significant rise in the number of master's degree holders by 160%[92]. Governance and Compliance - The company strictly adheres to relevant laws and regulations, ensuring compliance in corporate governance and operations[140]. - The board of directors consists of 9 members, including 3 independent directors, ensuring a balanced governance structure[141]. - The company has established a comprehensive internal control system to manage risks and ensure normal business operations[142]. - The company has continuously improved its governance practices to align with the standards set by regulatory authorities[143]. Employee Engagement and Development - The company conducted over 100 training sessions in 2021, with more than 3,000 participants, enhancing employee skills and management capabilities[198]. - The workforce included 44 technical personnel, 49 financial personnel, and 1,507 operational personnel, reflecting a diverse professional structure[195]. - The company has a structured employee compensation system linked to market levels and individual performance, aimed at attracting and retaining talent[197]. Acquisitions and Investments - The company is actively pursuing mergers and acquisitions to bolster its market position and diversify its product portfolio[14]. - The company completed acquisitions of Hangzhou Erciyuan and Hangzhou Haidou, enhancing overall service capabilities and profitability[125]. - The company made external investments in Shanghai Meng Tong Cultural Communication Co., Ltd. and Shanghai Duo Mi Brand Management Co., Ltd., generating investment income of 5 million yuan[69]. Future Outlook - The management is optimistic about achieving its performance guidance for the upcoming fiscal year, driven by strategic initiatives and market expansion efforts[14]. - The company provided guidance for 2022, projecting a revenue growth of 20% to 1.8 billion RMB, driven by new product launches and market expansion efforts[157]. - The company plans to invest in systematization and technological innovation, focusing on operational systems like OMS and data intelligence systems to improve marketing efficiency and reduce costs[130].

Key Financial Data [Key Accounting Data and Financial Indicators](index=2&type=section&id=1.1%20Key%20Accounting%20Data%20and%20Financial%20Indicators) Despite Q3 and YTD revenue decline, net profit attributable to shareholders, total assets, and equity grew significantly, indicating enhanced profitability Key Financial Indicators for Q3 2021 and Year-to-Date | Indicator | Current Period (Q3) | YoY Change (Q3) | Year-to-Date (YTD) | YoY Change (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 242,862,726.25 | -8.91% | 729,281,527.03 | -11.56% | | Net Profit Attributable to Shareholders (Yuan) | 77,058,032.40 | 39.07% | 203,560,853.60 | 24.24% | | Net Cash Flow from Operating Activities (Yuan) | - | - | -48,125,477.64 | -118.23% | | Basic Earnings Per Share (Yuan/share) | 0.33 | 30.21% | 0.92 | 21.05% | Key Balance Sheet Indicators at Period End | Indicator | End of Current Period | End of Previous Year | Change from Previous Year End | | :--- | :--- | :--- | :--- | | Total Assets (Yuan) | 3,051,896,184.67 | 2,014,165,688.66 | 51.52% | | Shareholders' Equity Attributable to Listed Company (Yuan) | 2,530,741,928.01 | 1,512,584,927.64 | 67.31% | [Non-recurring Gains and Losses Items and Amounts](index=3&type=section&id=1.2%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Year-to-date non-recurring gains and losses totaled **29.93 million Yuan**, mainly from asset disposal and government subsidies, significantly boosting net profit Key Non-recurring Gains and Losses Items Year-to-Date | Item | Amount Year-to-Date (Yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 25,282,014.92 | | Government Subsidies Included in Current P&L | 14,027,434.91 | | **Total** | **29,930,544.65** | [Changes and Reasons for Key Financial Indicators](index=3&type=section&id=1.3%20Changes%20and%20Reasons%20for%20Key%20Financial%20Indicators) Major financial changes were driven by private share placement, adjusted Pechoin partnership, increased prepayments/inventory, and a significant rise in R&D investment - Private placement of shares significantly increased **monetary funds (+129.16%)**, **share capital (+65.48%)**, and **capital reserves (+118.68%)**, primarily driving the expansion of assets and equity[8](index=8&type=chunk)[10](index=10&type=chunk) - Adjustments in the partnership model with Pechoin's flagship store were the core reason for the simultaneous year-to-date decline in **operating revenue (-11.56%)** and **selling expenses (-58.30%)**[10](index=10&type=chunk) - Increased prepayments for goods and inventory stocking for the Double Eleven promotion led to a surge in **prepayments (+240.45%)** and **inventory (+82.43%)**, consequently impacting **net cash flow from operating activities (-118.23%)**[8](index=8&type=chunk)[10](index=10&type=chunk) - The company continued to increase R&D investment, with year-to-date R&D expenses reaching **20.57 million Yuan**, a **147.85% year-on-year increase**[10](index=10&type=chunk) Shareholder Information [Total Shareholders and Top Ten Shareholders](index=4&type=section&id=2.1%20Total%20Shareholders%20and%20Top%20Ten%20Shareholders) The company has **23,383 common shareholders**; the top two hold over **45%**, indicating concentrated ownership, with institutional investors among the top ten - As of the end of the reporting period, the company had a total of **23,383 common shareholders**[11](index=11&type=chunk) Top Ten Shareholders' Shareholding | Shareholder Name | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | | Hangzhou Wangchuang Brand Management Co., Ltd. | 35.09% | 83,757,996 | | Lin Zhenyu | 10.24% | 24,446,382 | | Wu Shu | 3.49% | 8,322,071 | | Zhang Fan | 3.36% | 8,014,937 | | Penghua Emerging Industry Mixed Securities Investment Fund | 3.32% | 7,924,931 | [Changes in Restricted Shares](index=6&type=section&id=2.2%20Changes%20in%20Restricted%20Shares) Total restricted shares increased from **124 million** to **147 million**, primarily due to post-IPO restrictions and executive lock-up commitments - At the end of the reporting period, the company's total restricted shares amounted to **146,705,646 shares**, an increase of **22,310,037 shares** from the beginning of the period[16](index=16&type=chunk) - Key restricted shareholders include Hangzhou Wangchuang Brand Management Co., Ltd. and Lin Zhenyu, whose restricted shares stem from IPO commitments and are expected to be lifted on September 27, 2022[14](index=14&type=chunk) Other Significant Matters [Overview of Operations](index=8&type=section&id=3.1%20Overview%20of%20Operations) The company advanced its dual-engine strategy, expanding to multiple e-commerce platforms, achieving **43% YTD GMV growth** to **15.537 billion Yuan** and **39.07% Q3 net profit growth** - The company implemented a "Omni-channel E-commerce" + "New Consumer Product Acceleration" dual-engine strategy, diversifying its service models[17](index=17&type=chunk) - As of Q3 2021, the company achieved a **GMV of 15.537 billion Yuan**, representing a **43% year-on-year increase**[17](index=17&type=chunk) - In Q3, **35 new brands** were signed, including Nivea, Philips, and Yili, strengthening the company's omni-channel service capabilities[17](index=17&type=chunk) [Revenue Change Analysis](index=8&type=section&id=3.2%20Revenue%20Change%20Analysis) Q3 operating revenue declined due to adjusted Pechoin partnership impacting "Brand Online Marketing Services," largely offset by "Online Management Services" growth Q3 2021 Revenue Changes by Business Segment (Unit: Ten Thousand Yuan) | Business Segment | Jul-Sep 2021 | Jul-Sep 2020 | Change Amount | | :--- | :--- | :--- | :--- | | Brand Online Marketing Services | 3,584.99 | 9,217.28 | -5,632.29 | | Online Management Services | 13,466.56 | 9,149.75 | 4,316.81 | | Online Distribution | 6,661.04 | 7,693.27 | -1,032.23 | | **Total Operating Revenue** | **24,286.27** | **26,661.17** | **-2,374.90** | [GMV Change Analysis](index=8&type=section&id=3.3%20GMV%20Change%20Analysis) Strong GMV growth is driven by **129.89% YTD growth** in new businesses and **210.93% growth** on non-Taobao platforms, validating the multi-platform strategy GMV Growth by Business Segment | Business Segment | Q3 YoY Change (%) | Q1-Q3 2021 YoY Change (%) | | :--- | :--- | :--- | | Mature Businesses (Beauty + Personal Care) | 14.24% | 11.99% | | New Businesses (Food, Trendy Toys, etc.) | 75.38% | 129.89% | GMV Growth by Platform | Platform Type | Q3 YoY Change (%) | Q1-Q3 2021 YoY Change (%) | | :--- | :--- | :--- | | Taobao Ecosystem | 19.85% | 17.84% | | Non-Taobao Platforms | 222.03% | 210.93% | [Progress of Major Asset Restructuring](index=9&type=section&id=3.4%20Progress%20of%20Major%20Asset%20Restructuring) The company is acquiring **49% equity** in Zhejiang Shangbai E-commerce via share issuance and cash, a related party transaction not constituting major asset restructuring - The company plans to acquire **49% equity** in Zhejiang Shangbai E-commerce Co., Ltd. through share issuance and cash payment, and raise supporting funds[22](index=22&type=chunk) Quarterly Financial Statements [Consolidated Balance Sheet](index=9&type=section&id=4.1%20Consolidated%20Balance%20Sheet) As of September 30, 2021, total assets reached **3.052 billion Yuan** (+51.52%), with low liabilities and **2.531 billion Yuan** in parent equity (+67.31%), driven by private share placement Key Items of Consolidated Balance Sheet (Unit: Yuan) | Item | September 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Monetary Funds | 1,447,130,274.49 | 631,501,939.84 | | Total Assets | 3,051,896,184.67 | 2,014,165,688.66 | | Total Liabilities | 453,850,600.85 | 429,637,710.61 | | Total Equity Attributable to Parent Company Shareholders | 2,530,741,928.01 | 1,512,584,927.64 | [Consolidated Income Statement](index=12&type=section&id=4.2%20Consolidated%20Income%20Statement) Q1-Q3 2021 total operating revenue decreased by **11.56%** to **729 million Yuan**, yet net profit attributable to parent shareholders grew **24.24%** to **204 million Yuan**, driven by cost control and investment income Key Items of Consolidated Income Statement (Year-to-Date, Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Total Operating Revenue | 729,281,527.03 | 824,571,227.18 | | Total Operating Costs | 498,898,386.85 | 618,175,252.93 | | Of which: Selling Expenses | 45,968,694.77 | 110,229,635.72 | | Investment Income | 38,388,526.03 | 771.50 | | Total Profit | 278,187,860.78 | 227,995,830.78 | | Net Profit Attributable to Parent Company Shareholders | 203,560,853.60 | 163,844,019.72 | [Consolidated Cash Flow Statement](index=14&type=section&id=4.3%20Consolidated%20Cash%20Flow%20Statement) Q1-Q3 2021 operating cash flow was **-48.13 million Yuan** due to increased prepayments and inventory, while financing cash flow surged to **819 million Yuan** from private share placement, boosting cash reserves Key Items of Consolidated Cash Flow Statement (Year-to-Date, Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -48,125,477.64 | 264,009,413.10 | | Net Cash Flow from Investing Activities | 44,295,822.44 | -196,558,355.61 | | Net Cash Flow from Financing Activities | 819,243,483.34 | -64,548,445.69 | | Net Increase in Cash and Cash Equivalents | 815,673,206.50 | 2,488,264.75 | [Notes on Financial Statement Adjustments](index=16&type=section&id=4.4%20Notes%20on%20Financial%20Statement%20Adjustments) The company retrospectively adopted new leasing standards from January 1, 2021, adjusting opening financial statements by adding "Right-of-Use Assets" and "Lease Liabilities" and modifying "Prepayments" - The company first adopted new leasing standards from **January 1, 2021**, and adjusted relevant items in its opening financial statements[34](index=34&type=chunk) - Key adjustments to the January 1, 2021 balance sheet included increasing **"Right-of-Use Assets" by 8.37 million Yuan**, increasing **"Lease Liabilities" by 6.38 million Yuan**, and decreasing **"Prepayments" by 1.99 million Yuan**[35](index=35&type=chunk)[36](index=36&type=chunk)[37](index=37&type=chunk)

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥486.42 million, a decrease of 12.82% compared to ¥557.96 million in the same period last year[18]. - The net profit attributable to shareholders of the listed company increased by 16.66% to approximately ¥126.50 million, up from ¥108.44 million in the previous year[18]. - The net cash flow from operating activities was negative at approximately -¥61.32 million, a decline of 157.38% compared to ¥106.87 million in the same period last year[18]. - Basic earnings per share rose by 18.00% to ¥0.59, compared to ¥0.50 in the same period last year[18]. - The weighted average return on net assets was 8.08%, a slight decrease from 8.22% in the previous year[18]. - The net profit after deducting non-recurring gains and losses was approximately ¥114.77 million, an increase of 9.47% from ¥104.85 million in the same period last year[18]. - The diluted earnings per share based on the latest share capital was ¥0.53[19]. - The company achieved operating revenue of 484.65 million yuan, a year-on-year decrease of 13.14%[46]. - Net profit attributable to shareholders increased by 16.66% to 126.50 million yuan, while net profit excluding non-recurring gains and losses rose by 9.47% to 114.77 million yuan[46]. Cash Flow and Investments - The company reported a significant decline in cash flow from operations, indicating potential liquidity challenges[18]. - The company reported an investment cash flow of ¥85,984,016.14, a significant improvement of 153.79% from the previous year, attributed to the absence of prior acquisition payments[73]. - The company’s long-term equity investments increased by 9.83% to ¥140,045,586, reflecting a strategic focus on long-term growth[80]. - The company’s investment amount for the reporting period was ¥71,944,528.87, representing a significant decrease of 81.39% compared to the previous year[87]. - The company recorded investment income of ¥19,348,891.16, contributing 11.10% to the total profit, primarily from equity transfers and investment returns[77]. Business Operations and Strategy - The main business remains providing comprehensive e-commerce services for well-known fast-moving consumer goods brands, focusing on brand image, product design, and online operations[27]. - The company has developed a one-stop online data analysis and application service to enhance sales efficiency through precise consumer targeting[29]. - The company completed multiple customized membership services during the reporting period, enhancing consumer loyalty and brand reputation[30]. - The online distribution model allows the company to manage procurement, sales promotion, and logistics, with profits derived from the difference between sales revenue and costs[33]. - The company utilizes a self-developed OMS system to support personalized marketing strategies for different consumers[31]. - The company has established a user experience center to provide tailored gifts and services to brand members, enhancing customer satisfaction[29]. - The company’s service model includes brand online marketing and management services, with revenue generated from service fees based on sales performance[39]. - The company maintains strict inventory turnover control through a collaborative procurement process involving multiple departments[40]. - The company’s operational strategy includes regular feedback to brand partners on consumer data and marketing effectiveness to optimize promotional activities[36]. Market Trends and Industry Outlook - The e-commerce service industry is expected to grow steadily, driven by increasing disposable income and urbanization rates in China[49]. - The overall market size of the e-commerce service industry is projected to expand steadily, supported by favorable policies and the growth of online users[53]. - The overall market size of fast-moving consumer goods (FMCG) in China is approximately between 1.8 trillion to 2 trillion yuan, indicating significant potential for online penetration growth[56]. - The online sales market for FMCG has substantial room for improvement, particularly in daily chemical products, which currently have a lower online penetration rate compared to categories like clothing and home appliances[56]. - The online market for FMCG is expected to grow rapidly as younger consumers increasingly favor convenience and efficiency in their purchasing channels[56]. Shareholder and Equity Information - The company will not distribute cash dividends or issue bonus shares for the half-year period[124]. - The company has implemented a stock incentive plan to motivate employees and align their interests with shareholders[125]. - The company’s major shareholder, Mr. Lin Zhenyu, pledged 1,824,000 shares for operational purposes[161]. - The company’s total share capital increased to 216,392,390 shares after the adjustment of the dividend distribution plan[168]. - The company’s equity structure includes 57.51% of restricted shares and 42.49% of unrestricted shares[166]. - The company completed the repurchase and cancellation of 66,600 shares of restricted stock that had been granted but not unlocked, involving 4 individuals[128]. - The company’s management has a lock-up period for their shares during their tenure[173]. Risks and Challenges - The company faces risks from intensified industry competition, potential brand owner encroachment into e-commerce, and reliance on rebates from brand partners[108][109][110]. - The company emphasizes the importance of information security and has established a comprehensive management system to mitigate risks[111]. - The financial report for the first half of 2021 has not been audited, which may affect the reliability of the financial data presented[197]. Future Plans and Developments - The company plans to enhance service quality and diversify service types, establishing centers for user experience, creative design, product development, and integrated marketing[113]. - The company aims to accelerate technology upgrades and improve its information system, including the development of an AI-assisted decision-making system and automated data extraction tools[115]. - The company plans to enhance customer acquisition capabilities and expand market share through e-commerce upgrades and integrated operation service center projects[116]. - A dedicated department will be established to focus on user experience research, product design, and integrated sales, aiming to increase the potential customer base[116]. - The company aims to develop an automated data extraction and processing system to improve market decision-making accuracy and efficiency[116]. - The company will recruit various talents, including IT and data analysis personnel, to strengthen its logistics and supply chain management capabilities[117]. - The company intends to enhance its marketing capabilities by hiring more planning talents and expanding its design teams in areas such as process, graphics, and packaging[117].