Financial Performance - The company's operating revenue for 2021 was CNY 1,491,995,953.90, representing a 9.88% increase compared to CNY 1,357,787,458.95 in 2020[19]. - Net profit attributable to shareholders for 2021 was CNY 152,413,590.91, a significant increase of 74.17% from CNY 87,507,988.06 in 2020[19]. - The net profit after deducting non-recurring gains and losses was CNY 140,420,029.08, up 75.19% from CNY 80,154,700.71 in 2020[19]. - The company's total assets at the end of 2021 reached CNY 2,703,943,293.83, an increase of 11.28% from CNY 2,429,939,371.22 at the end of 2020[19]. - The weighted average return on equity for 2021 was 9.54%, up from 8.03% in 2020[19]. - The company reported a net cash flow from operating activities of CNY 251,730,586.35, a decrease of 31.95% compared to CNY 369,914,482.35 in 2020[19]. - The total operating revenue for 2021 was CNY 1,491,995,953.90, representing a year-on-year increase of 9.88% from CNY 1,357,787,458.95 in 2020[74]. - The revenue from fine woolen fabric increased by 40.34% year-on-year, with sales volume rising by 29.14%[66]. - The apparel segment generated revenue of CNY 607,730,255.66, which is a decline of 14.84% compared to CNY 713,601,295.60 in the previous year[74]. - The gross profit margin for the textile industry improved to 34.17%, up by 3.39 percentage points from the previous year[76]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 1.26 RMB per 10 shares to all shareholders, based on a total of 360,000,000 shares[4]. - The cash dividend accounted for 100% of the total distributable profit of 330,867,177.84 CNY[182]. - The company plans to retain undistributed profits for future use, indicating a strategy for reinvestment[182]. - The company's profit distribution plan aligns with its articles of association and relevant regulations[180]. - The total cash dividend distributed represents a clear and transparent decision-making process[180]. Market Strategy and Expansion - The company is focused on expanding its market presence and enhancing its product offerings through research and development initiatives[12]. - The company has adjusted its strategic layout since 2021, focusing on high-end worsted wool and textile apparel, while also expanding into the ultra-high molecular weight polyethylene new materials sector[41]. - The company aims to enhance its market influence and become a leader in the industry through technological integration and innovation[99]. - The company plans to strengthen its women's clothing market, aiming to develop high-end fashion women's fabrics in response to the growing demand for high-quality wool products[121]. - The company is focusing on sustainability initiatives, with a goal to reduce carbon emissions by 30% by 2025[149]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[152]. - Market expansion plans include entering three new provinces in 2022, targeting a 10% market share in these regions[149]. Research and Development - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing product efficiency[149]. - The R&D budget has been increased by 25% to enhance product development capabilities[152]. - R&D investment amounted to ¥53,859,134.73 in 2021, accounting for 3.61% of operating revenue, up from 2.94% in 2020[99]. - The company increased its R&D personnel from 267 in 2020 to 348 in 2021, representing a growth of 30.34%[99]. - The company has achieved the completion of three research projects and has filed for seven related patents, focusing on functional product development[98]. Governance and Compliance - The company emphasizes the importance of accurate financial reporting, with the management team ensuring the report's authenticity and completeness[3]. - The company has established a comprehensive governance structure in compliance with the Company Law and other regulations, ensuring effective checks and balances among the shareholders, board of directors, and management[135]. - The board of directors operates efficiently, with all members adhering to the rules and fulfilling their duties diligently, supported by four specialized committees[136]. - The company has a dedicated financial department with a standardized accounting system, allowing for independent financial decision-making and tax compliance[142]. - The company maintained a diligent approach to governance, with all board members fulfilling their responsibilities and participating actively in meetings[167]. Social Responsibility and Environmental Compliance - The company actively engages in social responsibility initiatives, including support for disaster relief and educational funding[197]. - The wastewater treatment facility has a designed capacity of 4,500 m³/d, utilizing advanced treatment processes to meet environmental standards[193]. - The company has complied with environmental regulations, with no exceedances of pollutant discharge limits reported during the year[196]. - The company has been recognized as a key pollutant discharge unit by environmental authorities, indicating its commitment to environmental management[193]. - A total of 120,000 masks and 16,000 sets of protective clothing were donated to aid flood relief efforts in Henan province[198]. Risks and Challenges - The company faces risks from currency fluctuations, particularly as its exports and raw material imports are primarily settled in foreign currencies[127]. - Increased competition in the textile industry poses a risk, but the company maintains a strong position in the high-end market segment[128]. - Rising labor costs in the textile industry may impact profitability, prompting the company to enhance automation and production efficiency[129]. - The company is addressing export risks related to potential tariffs on textiles, focusing on stabilizing strategic clients and enhancing product innovation[131]. Operational Efficiency - The company established a rapid response system for inventory management, enhancing its market responsiveness[56]. - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain[149]. - The company maintained a daily production capacity of 6,000 sets of protective clothing during the pandemic, ensuring high production efficiency[198]. - The total production capacity for fine woolen fabric remains at 1,600 million meters, with a capacity utilization rate of 78.93%, up from 73.43% the previous year[88].

Financial Performance - In Q3 2021, the company achieved operating revenue of CNY 361,475,907.41, a year-on-year increase of 2.66%[4] - The net profit attributable to shareholders was CNY 36,405,963.12, representing a growth of 30.52% compared to the same period last year[4] - For the first nine months of 2021, the company reported total operating revenue of CNY 1,019,356,365.55, up 2.12% year-on-year[11] - The net profit attributable to shareholders for the first nine months was CNY 96,351,831.88, an increase of 25.15% year-on-year[11] - Total operating revenue for Q3 2021 reached CNY 1,019,356,365.55, an increase of 2.1% compared to CNY 998,241,227.92 in the same period last year[19] - Operating profit for the period was CNY 112,001,215.65, up 33.0% from CNY 84,198,819.08 in Q3 2020[19] - Net profit attributable to the parent company was CNY 96,351,831.88, representing a 25.2% increase from CNY 76,990,144.66 in the previous year[21] - The company reported a total comprehensive income of CNY 101,512,715.97, compared to CNY 76,773,366.22 in Q3 2020[21] Cash Flow and Liquidity - The company’s cash flow from operating activities showed a net outflow of CNY 33,554,769.85, a decrease of 125.75% compared to the previous year[10] - The company reported a net cash outflow from operating activities of CNY -33,554,769.85, compared to a net inflow of CNY 130,300,048.83 in Q3 2020[23] - The net cash flow from investing activities was -30,714,330.45 CNY, compared to -14,517,091.09 CNY in the previous year, indicating a significant increase in cash outflow for investments[24] - The cash inflow from financing activities totaled 540,000,000.00 CNY, up from 425,000,000.00 CNY year-over-year, reflecting a 27% increase in financing received[24] - The net cash flow from financing activities improved to 48,730,631.51 CNY from -141,931,315.23 CNY, showing a positive turnaround in financing operations[24] - The total cash and cash equivalents at the end of the period were 950,026,194.23 CNY, down from 965,820,396.17 CNY at the beginning of the period, resulting in a net decrease of 15,794,201.94 CNY[24] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,526,389,436.02, reflecting a growth of 3.97% from the end of the previous year[6] - The company's total current assets as of September 30, 2021, amount to ¥1,911,090,716.89, an increase from ¥1,834,415,464.53 at the end of 2020[16] - Total assets as of September 30, 2021, are ¥2,526,389,436.02, compared to ¥2,429,939,371.22 at the end of 2020[17] - Total liabilities amounted to CNY 910,890,333.54, slightly up from CNY 894,352,984.72 in the previous year[19] - The total assets amounted to 2,429,939,371.22 CNY, with a slight decrease in total liabilities to 894,352,984.72 CNY, indicating a stable financial position[31] Shareholder Information - Total number of common shareholders at the end of the reporting period is 20,963[14] - The largest shareholder, Nanshan Group Co., Ltd., holds 67.50% of shares, totaling 243,000,000 shares[14] - The company has a total of 270,000,000 restricted shares, with the release date set for December 21, 2023[15] Research and Development - The company is investing in a high molecular weight polyethylene project, with construction nearly completed and production expected to start in the first half of 2022[12] - The company has prepared a significant amount of technical and research talent for the new polyethylene project, aiming for diversified development[12] - Research and development expenses increased to CNY 36,690,436.93, up 33.8% from CNY 27,412,568.60 in the same quarter last year[19] Other Financial Metrics - The diluted earnings per share for Q3 2021 remained stable at CNY 0.10, with a slight decrease of 6.90% year-to-date[4] - Basic earnings per share for the period were CNY 0.27, down from CNY 0.29 in the same quarter last year[21] - The company reported a decrease in cash and cash equivalents to ¥984,292,064.70 from ¥1,007,918,600.19[16] - The cash outflow for repaying debts was 440,000,000.00 CNY, down from 554,500,000.00 CNY in the previous year, reflecting improved debt management[24] - The company implemented a new leasing standard starting January 1, 2021, resulting in adjustments to fixed assets and liabilities, including a reclassification of 35,249,067.90 CNY to right-of-use assets[32] - The company’s short-term borrowings remained stable at 290,346,912.50 CNY, indicating consistent financing strategies[29] - Accounts receivable increased to ¥289,291,909.59 from ¥198,109,328.73 year-over-year[16] - Inventory as of September 30, 2021, is ¥555,243,109.37, up from ¥531,325,990.58[17]

Financial Performance - The company's operating revenue for the reporting period was ¥657,880,458.14, representing a 1.82% increase compared to ¥646,129,750.46 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was ¥59,945,868.76, a 22.10% increase from ¥49,097,516.83 year-on-year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥59,814,747.01, reflecting a 39.40% increase compared to ¥42,907,748.31 in the previous year[20]. - The basic earnings per share decreased by 5.56% to ¥0.17 from ¥0.18 in the same period last year[20]. - The diluted earnings per share increased by 6.25% to ¥0.17 from ¥0.16 year-on-year[20]. - The comprehensive gross profit margin improved to 34.86%, reflecting a year-on-year increase of 2.7%[43]. - The operating cost decreased by 2.24% to ¥428,534,083.78, resulting in a gross margin of 34.86%, which is an increase of 2.70% compared to the previous year[76]. - The company reported a total profit of ¥42,872,898.25 for the first half of 2021, up from ¥14,704,021.35 in the first half of 2020, indicating strong operational performance[182]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥94,655,222.91, a significant decrease of 276.02% from ¥53,776,231.36 in the same period last year[20]. - The company’s cash and cash equivalents decreased by 482.53% to -¥183,015,317.77, indicating liquidity challenges[73]. - Cash and cash equivalents at the end of the reporting period amounted to ¥828,456,336.56, representing 34.91% of total assets, a decrease of 6.57% compared to the previous year[93]. - The company reported a decrease in cash and cash equivalents to ¥530,629,234.15 from ¥717,605,521.66, a decline of about 26.0%[177]. - The company reported a net cash flow from financing activities of -66,217,301.41 CNY in 2021, an improvement from -128,628,589.54 CNY in 2020, indicating better cash management[188]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,372,960,769.87, down 2.34% from ¥2,429,939,371.22 at the end of the previous year[20]. - The total liabilities decreased to CNY 795,229,678.04 from CNY 894,352,984.72, reflecting a reduction of approximately 11.1%[175]. - The company's total equity increased to CNY 1,577,731,091.83, up from CNY 1,535,586,386.50, indicating a growth of about 2.8%[175]. - The company reported a total inventory of 81,261,072.53 yuan at the end of the period, with an increase of 16,160,927.20 yuan during the period[86]. Market and Sales Performance - The company achieved a revenue of 657.88 million yuan, an increase of 1.82% year-on-year, with domestic revenue rising by 17.73%[40]. - Revenue from worsted wool fabric was 357.87 million yuan, accounting for 54.40% of total revenue, while clothing revenue was 292.07 million yuan, accounting for 44.55%[42]. - The company is actively expanding its market presence in both domestic and international markets, focusing on high-end and differentiated product offerings[88]. - The company experienced a significant increase in shirt sales, with a growth rate of 251.45% due to completed orders that have not yet been shipped[86]. Research and Development - Research and development investment increased by 26.42% to ¥23,218,661.57, reflecting the company's commitment to innovation[73]. - The company has launched functional fabrics such as "OPTIM lightweight outdoor fabric" and "graphene functional fabric," enhancing product value and market competitiveness[70]. - The company aims to leverage its global R&D capabilities to maintain its leading position in the industry[63]. Strategic Initiatives - The company focuses on optimizing order structure and production scheduling to enhance production efficiency and effectiveness[29]. - The company is committed to technological innovation and fashion-driven strategies to strengthen its core competitiveness[28]. - The company has established a complete industrial chain covering fabric and clothing, positioning itself as a leader in high-end wool fabric and custom clothing industries[26]. - The company is focusing on personalized customization services to capture the growing demand for high-end clothing customization[68]. Environmental and Social Responsibility - The company has maintained compliance with environmental regulations, with no instances of exceeding pollutant discharge limits during the reporting period[126]. - The company has a wastewater treatment project with a design capacity of 4,500 m³/d, ensuring compliance with national pollution discharge standards[121]. - The company donated masks and protective clothing to support flood relief efforts in Henan Province during severe weather in July 2021[129]. Governance and Compliance - The company's financial statements were approved by the board of directors on August 25, 2021, ensuring compliance and governance[200]. - There were no significant litigation or arbitration matters reported during the reporting period[137]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[133].

Financial Performance - The company's operating revenue for Q1 2021 was ¥297,776,602.26, representing a 7.30% increase compared to ¥277,516,633.77 in the same period last year[9] - Net profit attributable to shareholders was ¥24,016,369.92, up 15.52% from ¥20,790,297.90 year-on-year[9] - The net profit after deducting non-recurring gains and losses was ¥23,852,859.58, reflecting a 17.57% increase from ¥20,287,940.91 in the previous year[9] - Basic earnings per share decreased by 12.50% to ¥0.07 from ¥0.08 year-on-year[9] - The company achieved operating revenue of 297.78 million yuan, a year-on-year increase of 7.30%[18] - Net profit attributable to shareholders was 24.02 million yuan, reflecting a year-on-year growth of 15.52%[18] - The company reported a net profit increase, with retained earnings rising to CNY 326,714,126.82 from CNY 302,697,756.90, an increase of approximately 7.9%[34] - The total comprehensive income for Q1 2021 was CNY 29,356,768.14, an increase from CNY 20,873,794.91 in Q1 2020, reflecting a growth of 40.5%[42] Cash Flow and Liquidity - The net cash flow from operating activities was -¥68,702,230.98, a decline of 29.37% compared to -¥53,106,900.24 in the same period last year[9] - Operating cash inflow for the current period was CNY 294,987,105.49, slightly up from CNY 292,077,951.02 in the previous period, indicating a growth of approximately 0.65%[48] - Cash flow from financing activities showed a net outflow of CNY -111,910,990.00, improving from CNY -125,241,984.17 in the previous period, representing a reduction of approximately 10.6%[50] - The ending balance of cash and cash equivalents was CNY 778,894,089.22, a decrease from CNY 224,313,609.58 in the previous period, indicating a significant drop of about 65.2%[50] - The cash flow from operating activities showed a net cash outflow of CNY -72,628,584.02, worsening from CNY -45,647,574.04 in the previous period, reflecting a decline of approximately 58.5%[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,281,588,519.03, down 6.11% from ¥2,429,939,371.22 at the end of the previous year[9] - Current assets totaled CNY 1,686,912,700.29, down from CNY 1,834,415,464.53, indicating a decrease of about 8.0%[31] - The company's cash and cash equivalents decreased to CNY 817,464,677.11 from CNY 1,007,918,600.19, representing a decline of approximately 18.9%[31] - Total liabilities decreased to CNY 716,645,364.39 from CNY 894,352,984.72, a reduction of approximately 20.0%[33] - The company's total liabilities decreased to CNY 1,044,247,772.93 from CNY 1,190,786,720.74, indicating a reduction of approximately 12.3%[41] Research and Development - The company's R&D expenses increased by 48.10% to ¥11,165,870.20 from ¥7,539,574.91 in the previous year, indicating a focus on innovation[16] - Research and development expenses rose to CNY 11,165,870.20, up 48.5% from CNY 7,539,574.91 in the previous year[41] Customer and Market Focus - The company is focusing on domestic market expansion, increasing the share of domestic orders to mitigate the impact of international trade challenges[18] - The proportion of the top five customers' sales to total revenue increased by 9.51% compared to the previous year, attributed to delayed order deliveries last year[20] Financial Management - The company reported a significant reduction in tax and additional charges by 83.36%, from ¥3,501,337.31 to ¥582,604.69, due to decreased VAT payable[16] - The company reported a significant decrease in financial expenses, which fell to CNY 1,335,283.78 from CNY 3,939,782.00, a reduction of approximately 66.1%[41] Inventory and Prepayments - Prepayments increased by 236.42% to 25.45 million yuan, indicating a rise in material payments[17] - Inventory levels increased slightly to CNY 542,690,739.86 from CNY 531,325,990.58, reflecting a growth of approximately 2.6%[31]

Financial Performance - The company's operating revenue for 2020 was approximately ¥1.36 billion, a decrease of 23.32% compared to ¥1.77 billion in 2019[17]. - The net profit attributable to shareholders for 2020 was approximately ¥87.51 million, down 28.14% from ¥121.78 million in 2019[17]. - The net cash flow from operating activities was approximately ¥369.91 million, a slight decrease of 3.10% compared to ¥381.76 million in 2019[17]. - The total assets at the end of 2020 were approximately ¥2.43 billion, an increase of 19.71% from ¥2.03 billion at the end of 2019[17]. - The net assets attributable to shareholders increased by 46.21% to approximately ¥1.53 billion at the end of 2020, compared to ¥1.05 billion at the end of 2019[17]. - The basic earnings per share for 2020 was ¥0.32, a decrease of 28.89% from ¥0.45 in 2019[17]. - The weighted average return on equity for 2020 was 8.03%, down from 12.36% in 2019, reflecting a decline of 4.33%[17]. - The comprehensive gross margin was 30.78%, an increase of 0.57% year-on-year, remaining stable compared to the previous year[78]. - The net profit for the period was 86.23 million CNY, a year-on-year decrease of 28.76%, while the net profit attributable to shareholders was 87.51 million CNY, down 28.14%[78]. - The total revenue for the company in 2020 was 1,357,787,458.95 CNY, a decrease of 23.34% compared to 2019[111]. Revenue Breakdown - The revenue from the textile industry accounted for 100% of total operating revenue, with the main products being fine woolen fabric at ¥618.13 million (down 29.31%) and apparel at ¥713.60 million (down 17.92%)[93]. - Domestic sales contributed ¥1.06 billion (77.85% of total revenue), while international sales were ¥300.73 million (22.15%), reflecting a significant decline of 41.37% in foreign revenue[94]. - The main revenue contributors were fine woolen fabric and apparel, with fine woolen fabric revenue at 618.13 million CNY (45.53%) and apparel revenue at 713.60 million CNY (52.56%), indicating a balanced revenue scale[78]. Cash Flow and Assets - Cash and cash equivalents increased by 137.20% compared to the end of 2019, primarily due to funds raised from public stock issuance during the reporting period[64]. - The company reported a net cash flow from operating activities of 369.91 million CNY, a year-on-year decrease of 3.10%, maintaining a good cash flow position due to enhanced collection efforts on accounts receivable[80]. - The proportion of cash and cash equivalents to total assets increased significantly from 20.93% at the beginning of 2020 to 41.48% at the end of 2020[130]. - The company reported a significant decrease of 95.13% in construction in progress compared to the end of the previous year, mainly due to the completion of projects being transferred to fixed assets[63]. Production and Capacity - The company has a production capacity of 16 million meters per year for worsted fabric, ranking second nationally[28]. - The company’s formal wear production capacity is 135,000 sets per year, making it one of the largest production bases for professional attire in China[30]. - The company’s production capacity for fine woolen fabric remained at 1,600 million meters, with a utilization rate of 73.43%, down from 90.12% in the previous year[108]. Research and Development - The company applied for 23 new patents during the reporting period, including 10 invention patents, enhancing its intellectual property portfolio[89]. - The company’s R&D investment in 2020 amounted to approximately ¥39.96 million, representing 2.94% of total revenue[122]. - The number of R&D personnel decreased to 267 in 2020, accounting for 5.01% of the total workforce[122]. Market Strategy and Partnerships - The company has established long-term partnerships with high-end brands such as PRADA and Giorgio Armani, showcasing its strong market position[32]. - The company is actively expanding its custom clothing segment, which is expected to be a new growth point in the consumer market[30]. - The company operates a dual strategy of self-owned brands and ODM/OEM business, including leading brands like "Dierma" and "Zhishang" in the professional clothing sector[55]. - The company has established a comprehensive sales network covering all provinces in China and key international markets, including the EU, Japan, the US, Australia, and the UK[59]. Environmental and Social Responsibility - The company has established an ISO 14001 environmental management system and has achieved a 100% safe disposal rate for industrial solid waste[187]. - The company’s COD emissions were recorded at 34.78 tons, which is below the standard limit of 200 tons[190]. - The company has actively participated in public welfare and charity initiatives, responding to local government calls for social responsibility[189]. - In 2020, the company complied with environmental regulations, with no exceedances in pollutant emissions, and its environmental facilities operated normally[193]. Shareholder and Governance - The company plans to distribute a cash dividend of ¥0.6 per 10 shares, totaling approximately ¥21.6 million based on 360 million shares[4]. - The cash dividend payout ratio for 2020 was 24.68%, indicating a commitment to returning value to shareholders[161]. - The company has commitments from major shareholders to not transfer or manage their shares for 36 months post-IPO, with ongoing compliance[162]. - The company confirmed that there are no false records, misleading statements, or significant omissions in the IPO application documents submitted to regulatory authorities[163]. Challenges and Risks - The company is facing risks from exchange rate fluctuations, particularly as its products are exported and raw materials are imported in foreign currencies[149]. - The company is addressing the impact of the COVID-19 pandemic on its operations, which has affected procurement, production, and sales[148]. - The company has identified the need for continuous improvement in automation and production efficiency due to a declining labor force[150].