Group 1: Financial Performance - The company achieved a net profit of 124 million in Q1 2022, despite experiencing cash flow losses due to changes in payment terms and year-end bonus payments [3][4]. - In 2021, offline sales exceeded 700 million, showing a year-on-year growth of over 55% [3][4]. - The company aims to maintain its annual performance targets despite challenges posed by the pandemic [7]. Group 2: Product and Market Position - The core product "Winona" holds over 20% market share in the efficacy skincare segment, positioning the company as a leader in this niche [3][4]. - Approximately 90% of the company's revenue in 2021 came from skincare products [4]. - The company has obtained 80 patents by the end of 2021, including 22 invention patents, indicating a strong position in the domestic cosmetics industry [3]. Group 3: Research and Development - The company focuses on developing products targeting sensitive skin and plans to expand its "sensitive+" product line [4][6]. - New products under the Winona brand, including age-specific skincare and anti-aging series, are set to launch this year [6]. Group 4: Sales and Distribution Strategy - The company employs a hybrid sales model, combining online and offline channels, with significant presence on platforms like Tmall, JD, and Douyin [2][4]. - The company is actively exploring new retail channels and maintaining its core distribution partnerships [4]. Group 5: Future Outlook and Strategic Plans - The company is expanding its production base in Kunming, with plans to increase self-manufactured products to about 30% of total output [3][5]. - The company is optimistic about future growth, particularly in the Southeast Asian market, where it is testing cross-border e-commerce [4][5].

Financial Performance - The company's revenue for Q3 2022 reached ¥845,763,610.14, representing a 20.65% increase year-over-year[4] - Net profit attributable to shareholders was ¥122,262,061.18, up 35.49% compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses was ¥96,046,984.63, reflecting a 19.69% increase year-over-year[4] - The basic earnings per share for the period was ¥0.29, an increase of 38.10% compared to the same period last year[4] - The company's operating revenue for the year-to-date period reached RMB 2,895,462,118.25, an increase of RMB 782,729,891.17 or 37.05% compared to the same period last year, driven by enhanced product and brand recognition[11] - Total operating revenue for the third quarter of 2022 reached RMB 2,895,462,118.25, an increase of 37.06% compared to RMB 2,112,732,227.08 in the same period last year[22] - Operating profit for the third quarter was RMB 599,481,554.15, up 42.5% from RMB 421,042,422.70 year-over-year[22] - Net profit attributable to shareholders of the parent company was RMB 517,305,255.88, representing a 45.7% increase from RMB 355,251,880.40 in the previous year[22] - The company reported a total comprehensive income of RMB 515,505,570.32 for the quarter, compared to RMB 355,756,861.90 in the same period last year, an increase of 45%[23] Assets and Liabilities - Total assets at the end of the period amounted to ¥6,022,288,100.26, a 3.61% increase from the end of the previous year[4] - The total assets of the company as of September 30, 2022, amount to approximately ¥6.02 billion, an increase from ¥5.81 billion at the beginning of the year[20] - The total non-current assets as of September 30, 2022, are approximately ¥919.08 million, compared to ¥587.46 million at the beginning of the year, indicating a growth of 56.5%[20] - The company's total liabilities decreased to RMB 983,259,954.68 from RMB 1,034,024,642.51, a reduction of approximately 4.9%[21] - The total equity attributable to shareholders increased to RMB 5,018,347,555.30, compared to RMB 4,755,204,197.34, reflecting a growth of 5.5%[21] Cash Flow - The company's cash flow from operating activities showed a significant decline of 75.31% year-to-date, totaling ¥85,908,994.06[4] - The cash inflow from operating activities totaled RMB 3,109,908,228.03, an increase of RMB 709,079,023.94 or 29.53%, attributed to rapid growth in sales scale and revenue[14] - The cash outflow from operating activities was RMB 3,023,999,233.97, an increase of RMB 971,166,738.40 or 47.31%, mainly due to increased promotional expenses and operational costs[15] - The cash inflow from investment activities reached RMB 5,331,386,343.08, an increase of RMB 2,117,499,962.36 or 65.89%, due to the recovery of cash from maturing financial investments[14] - The cash outflow from investment activities was RMB 5,908,569,853.92, remaining stable as the company continued to invest in ongoing projects[15] - The ending balance of cash and cash equivalents was RMB 1,216,360,503.81, up from RMB 686,882,223.82 in the previous period, representing an increase of about 77.1%[25] Inventory and Receivables - The inventory balance increased by 62.84% to ¥754,401,145.88, driven by proactive production and procurement for upcoming sales events[9] - The company's receivables increased by 60.13% to ¥396,162,390.85, attributed to bulk purchases by major clients in preparation for Q4 promotional activities[9] - The company's inventory has increased to approximately ¥754.40 million, up from ¥463.27 million, reflecting a growth of 62.6%[20] Research and Development - Research and development expenses rose to RMB 126,454,919.75, an increase of RMB 57,973,452.60 or 84.66%, reflecting the company's successful R&D activities[12] - Research and development expenses for the quarter amounted to RMB 126,454,919.75, significantly higher than RMB 68,481,467.15 in the previous year, indicating a focus on innovation[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 18,093, with the top ten shareholders holding a combined 83.01% of shares[16] - Kunming Nona Technology Co., Ltd. holds 46.08% of shares, amounting to 195,212,611 shares[16] - The top ten unrestricted shareholders hold a total of 206,206,289 shares, with the largest being Tianjin Sequoia Investment Partnership holding 70,235,257 shares[17] - The company has a significant amount of pledged shares, with 195,212,611 shares held by Kunming Nona Technology Co., Ltd. being subject to restrictions[18] Future Plans - The company has plans for future expansion and product development, although specific details were not disclosed in the provided content[19] - The company has a strategic focus on enhancing its market position through potential mergers and acquisitions, as indicated by its shareholder structure and investment strategies[19]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan for the first half of 2022, representing a year-on-year growth of 25%[2] - The company's revenue for the first half of 2022 reached CNY 2,049,698,508.11, representing a 45.19% increase compared to CNY 1,411,744,421.58 in the same period last year[13] - The company reported a total revenue of 1.5 billion CNY for the first half of 2022, representing a year-on-year increase of 20%[92] - The company achieved a revenue of RMB 204,969.85 million, representing a year-on-year increase of approximately 45.19%[22] - The company reported a total operating revenue for the first half of 2022 reached CNY 2,049,698,508.11, a significant increase from CNY 1,411,744,421.58 in the same period of 2021, representing a growth of approximately 45%[134] Profitability - Net profit attributable to shareholders was CNY 395,043,194.70, up 49.06% from CNY 265,015,593.01 year-on-year[13] - The net profit after deducting non-recurring gains and losses was CNY 355,416,347.93, reflecting a 40.50% increase compared to CNY 252,971,080.64 in the previous year[13] - The company's basic earnings per share increased to CNY 0.93, a rise of 36.76% from CNY 0.68 in the same period last year[13] - The company reported a net profit of RMB 35,541.63 million after deducting non-recurring gains and losses, reflecting a year-on-year increase of approximately 40.50%[22] - The net profit margin for the first half of 2022 was 12%, reflecting a stable performance amidst market challenges[164] User Growth - User data indicates a growth in active users, with the number reaching 5 million, up from 4 million in the previous year, marking a 25% increase[2] - User data showed an increase in active users by 15% compared to the previous year, reaching 3 million active users[92] - User data indicates a growth in active users, with the total number reaching 10 million, an increase of 15% compared to the previous period[164] Future Outlook - The company has set a future outlook with a revenue target of 2.5 billion yuan for the full year 2022, indicating an expected growth of 20% compared to 2021[2] - The company expects a revenue growth of 25% for the second half of 2022, driven by new product launches and market expansion strategies[92] - The company provided a positive outlook for the second half of 2022, projecting a revenue growth of 20% based on current market trends and user acquisition strategies[93] Product Development - New product launches are planned, including a skincare line projected to generate 300 million yuan in sales within the first year[2] - The company launched the "Winona Revitalizing Repair Essence," which became the top-selling anti-wrinkle essence on Tmall during the pandemic[19] - The company has introduced two new product lines, which are projected to contribute an additional 300 million CNY in revenue over the next year[92] - New product development includes the introduction of two innovative skincare lines, expected to contribute an additional 200 million RMB in revenue by the end of the year[164] Market Expansion - Market expansion efforts include entering three new provinces, aiming to increase market share by 15% in these regions[2] - The company is expanding its market presence, targeting an increase in distribution channels by 30% in the next year[93] - The company is exploring market expansion opportunities in Southeast Asia, targeting a 10% market share within the next two years[164] Research and Development - The company is investing in technology development, allocating 100 million yuan towards R&D for innovative beauty products[2] - Research and development expenses increased to CNY 81,510,447.99 in the first half of 2022, up from CNY 43,948,059.60 in the same period of 2021, reflecting a growth of approximately 85.5%[135] - Research and development investments have increased by 40%, focusing on new technologies in biotechnology and sustainable practices[94] Marketing Strategy - A new marketing strategy focusing on digital channels is expected to increase customer engagement by 30%[2] - The company has implemented a new marketing strategy, aiming to increase brand awareness by 50% through digital platforms and influencer partnerships[94] Financial Management - No cash dividends will be distributed this year, as the company aims to reinvest profits into growth initiatives[2] - The company has committed to maintaining a dividend payout ratio of 30% of net profits for the fiscal year 2022[92] - The company reported a profit distribution policy that emphasizes a minimum cash dividend of 30% of the average distributable profit over the last three years for every three consecutive years[101] Operational Efficiency - The company plans to enhance its supply chain efficiency, targeting a reduction in operational costs by 10% over the next year[2] - The company aims to reduce operational costs by 5% through efficiency improvements and supply chain optimization initiatives[164] Corporate Social Responsibility - The company injected a total of RMB 4,215,766.00 into the "Betaini Public Welfare Fund" to support youth development and education initiatives in Yunnan Province from March to June 2022[87] - The company donated over RMB 8 million worth of epidemic prevention materials to frontline medical staff in Shanghai during the COVID-19 pandemic[88] - The company actively participated in consumer education initiatives regarding the safe use of cosmetics, including producing educational materials and conducting on-site skin tests[88] Competition and Risks - The company faces increasing competition from international cosmetic brands in online channels, which may impact market share[33] - The company faces risks from intensified competition in the cosmetics industry, particularly from international brands leveraging strong online marketing[70] Shareholder Information - The annual shareholders' meeting had a participation rate of 87.10% on May 9, 2022, where 22 proposals were voted on[83] - The company has not distributed cash dividends or bonus shares for the half-year period and has no employee incentive plans in place[84] Environmental Commitment - The company adheres to various environmental management standards, including ISO certifications, to ensure product quality and environmental protection[86] - The company actively promotes green supply chain management and has implemented measures to reduce environmental pollution and improve sustainability[86]

Financial Performance - The company's revenue for Q1 2022 was CNY 808,520,247.30, representing a 59.32% increase compared to CNY 507,481,101.75 in Q1 2021[3] - Net profit attributable to shareholders for Q1 2022 was CNY 145,983,362.57, an increase of 85.74% from CNY 78,593,578.99 in the same period last year[3] - The net profit after deducting non-recurring gains and losses was CNY 124,434,766.27, up 61.82% from CNY 76,898,384.01 in Q1 2021[3] - The basic and diluted earnings per share for Q1 2022 were both CNY 0.34, a 54.55% increase from CNY 0.22 in Q1 2021[3] - In Q1 2022, the company's operating revenue reached RMB 808.52 million, an increase of RMB 301.04 million or 59.32% compared to Q1 2021, driven by the continuous innovation around the "Winona" brand[10] - Net profit for Q1 2022 was RMB 145.42 million, representing an increase of RMB 66.40 million or 84.04% from the previous year[13] - Total operating revenue for Q1 2022 reached CNY 808.52 million, a significant increase of 59.3% compared to CNY 507.48 million in Q1 2021[23] - Net profit for Q1 2022 was CNY 145.42 million, representing a 83.8% increase from CNY 79.01 million in Q1 2021[25] Assets and Liabilities - The company's total assets as of March 31, 2022, were CNY 5,683,718,297.17, a decrease of 2.22% from CNY 5,812,491,217.77 at the end of 2021[3] - The equity attributable to shareholders increased by 3.07% to CNY 4,901,187,603.54 from CNY 4,755,204,197.34 at the end of 2021[3] - Total liabilities decreased to CNY 760.62 million in Q1 2022 from CNY 1.03 billion in the previous year[23] - The company reported a significant reduction in accounts payable, which fell to CNY 185.29 million from CNY 296.30 million year-over-year[23] - The company's non-current assets totaled CNY 662.85 million, up from CNY 587.46 million year-over-year[23] Cash Flow - The cash flow from operating activities was negative at CNY -167,176,118.31, a decline of 429.12% compared to CNY 50,795,447.01 in Q1 2021[3] - Cash inflow from operating activities in Q1 2022 totaled RMB 902.62 million, an increase of RMB 224.03 million or 33.01% year-over-year, attributed to rapid growth in sales[14] - Cash outflow from operating activities in Q1 2022 was RMB 1,069.80 million, up RMB 442.00 million or 70.41% compared to Q1 2021, due to increased payments for production materials and marketing expenses[15] - Investment cash inflow in Q1 2022 reached RMB 2,157.76 million, a significant increase of RMB 1,836.99 million or 572.70% year-over-year, from the recovery of principal and investment returns[14] - Investment cash outflow in Q1 2022 was RMB 2,446.29 million, up RMB 2,104.29 million or 615.29% year-over-year, primarily due to increased investments in ongoing projects[16] - The net cash flow from operating activities for the current period is -167,176,118.31, compared to 50,795,447.01 in the previous period, indicating a significant decline[29] - Cash inflow from investment activities reached 2,157,760,436.58, significantly higher than 320,763,175.83 in the previous period, marking an increase of over 570%[29] - The net cash flow from investment activities was -288,528,223.22, worsening from -21,238,567.02 in the previous period[29] Research and Development - R&D expenses in Q1 2022 were RMB 30.99 million, an increase of RMB 8.16 million or 35.71% year-over-year, reflecting the company's commitment to enhancing research and development activities[12] - Research and development expenses for Q1 2022 amounted to CNY 30.99 million, an increase of 35.5% from CNY 22.84 million in the previous year[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 18,549[17] - Kunming Nona Technology Co., Ltd. holds 46.08% of shares, totaling 195,212,611 shares[17] - Tianjin Sequoia Juye Equity Investment Partnership holds 21.58% of shares, totaling 91,415,257 shares[17] - The total number of restricted shares at the end of the period is 206,206,289 shares[19] - The company plans to lift restrictions on shares held by major shareholders on March 25, 2024[19] - The total number of shares held by the top ten shareholders accounts for a significant portion of the company's equity[17] Other Information - The company received government subsidies amounting to CNY 6,157,420.41 during Q1 2022, primarily related to listing rewards[4] - The company's trading financial assets increased by 154.99% to CNY 1,991,867,560.10, attributed to increased cash management investments[6] - The construction in progress balance increased by 37.30% to CNY 270,866,956.31, reflecting ongoing investments in the new central factory project[8] - The gross profit margin for Q1 2022 was approximately 77.82%, remaining stable compared to the same period last year[11] - Operating costs in Q1 2022 amounted to RMB 179.36 million, up RMB 68.45 million or 61.71% year-over-year, in line with the increase in sales scale and revenue[11] - The company has not disclosed any new product or technology developments in the current report[20] - The company did not conduct an audit for the first quarter report[30]

Dividend Distribution - The company plans to distribute a cash dividend of RMB 6.00 per 10 shares, totaling approximately RMB 2.54 billion based on 423,600,000 shares [4]. - The company distributed a cash dividend of RMB 4.50 per 10 shares, totaling RMB 190.62 million, which was implemented by June 30, 2021 [169]. - The total cash dividend amount for the year was RMB 254.16 million, representing 100% of the distributable profit of RMB 1,014.84 million [171]. Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year increase of 25% compared to 2020 [10]. - The gross profit margin for the year was 60%, which is an improvement from 55% in the previous year [10]. - The company reported a net profit of RMB 300 million for 2021, which is a 30% increase from the previous year [10]. - The company's operating revenue for 2021 reached ¥4,022,403,431.75, representing a 52.57% increase compared to ¥2,636,488,348.17 in 2020 [15]. - Net profit attributable to shareholders for 2021 was ¥862,922,946.61, a 58.77% increase from ¥543,507,903.96 in 2020 [15]. - The company achieved a revenue of RMB 402,240.34 million, representing a year-on-year increase of approximately 52.57% [33]. - The net profit attributable to shareholders reached RMB 86,292.29 million, up about 58.77% year-on-year [33]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the year, representing a growth of 25% compared to the previous year [144]. Market Expansion and Product Development - The company plans to expand its product line with the introduction of three new skincare products in 2022, targeting a 15% increase in market share [10]. - Market expansion efforts include entering two new provinces in China, aiming for a 20% increase in sales from these regions [10]. - The company is exploring potential acquisitions to enhance its product offerings and distribution channels, with a focus on companies in the beauty and personal care sector [10]. - The company aims to integrate domestic and international talent resources to enhance its R&D in functional cosmetics and health products [78]. - The company plans to continue expanding its product line and improving existing products based on market feedback and technological advancements [78]. - The company has completed a strategic acquisition of a local competitor for 200 million CNY, expected to enhance distribution capabilities [144]. - Market expansion plans include entering three new international markets by the end of the next fiscal year, aiming for a 10% increase in overall market share [149]. Research and Development - The company has allocated RMB 200 million for research and development in new technologies and product formulations in 2022 [10]. - The company holds a total of 80 authorized patents, including 22 invention patents, with 23 new patents granted during the reporting period [28]. - The company is investing 100 million CNY in R&D for new technologies aimed at enhancing product efficacy and sustainability [144]. - The company plans to increase its R&D investment ratio and improve its R&D center's functions, focusing on the safety and efficacy of unique Yunnan plants for skincare [110]. - The number of R&D personnel increased by 126.92% from 104 in 2020 to 236 in 2021, with the proportion of R&D staff rising from 5.46% to 9.92% [80]. Governance and Compliance - The board of directors has confirmed the accuracy and completeness of the annual report, ensuring no false statements or omissions [3]. - The company has a comprehensive governance structure in place, with all board members present for the report's approval [3]. - The company has established a governance structure with a board of directors consisting of 9 members, including 3 independent directors, ensuring compliance with legal regulations [127]. - The company has a clear governance structure that complies with relevant laws and regulations, ensuring no significant discrepancies with regulatory requirements [131]. - The independent directors have effectively fulfilled their duties, contributing to the scientific decision-making of the board and protecting the interests of minority investors [130]. Risk Management - The company emphasizes the importance of understanding investment risks associated with forward-looking statements in the report [3]. - The report includes a detailed analysis of potential risks in the company's future operations [3]. - The company recognizes the risk of intensified competition from international brands leveraging online sales channels, which could impact its revenue growth [115]. - The company faces potential risks from concentrated sales platforms, as a significant portion of its revenue comes from major e-commerce platforms like Tmall and JD [117]. - The company anticipates seasonal fluctuations in sales revenue due to reliance on major promotional events like "618" and "Double 11" [118]. Customer Engagement and Sales Channels - User data indicated that the active customer base grew by 30% year-on-year, reaching 5 million users by the end of 2021 [10]. - The online sales channel accounted for 70% of total sales, highlighting the effectiveness of the e-commerce strategy implemented by the company [10]. - The company's online sales model relies heavily on major B2C platforms, with increasing competition from international brands impacting market share [43]. - The online self-operated retail business revenue was RMB 253,245.80 million, accounting for 63.19% of the main business revenue [35]. - The company has reported a total of approximately 2.9835 million registered users on its self-built platform, with an increase of about 853,200 new users during the reporting period [41]. Internal Controls and Financial Management - The internal control evaluation report indicates that the total assets of the evaluated units accounted for 100% of the company's consolidated financial statement assets [177]. - The internal control evaluation report also states that there were no significant defects identified in internal controls during the reporting period [179]. - The company maintained effective internal controls related to financial reporting as of December 31, 2021 [182]. - The company has established an independent financial department with a compliant financial accounting system, allowing for autonomous financial decision-making [134]. Employee Management and Compensation - The total remuneration paid to the company's directors, supervisors, and senior management in 2021 amounted to RMB 20.69 million [154]. - The company has established a competitive compensation system based on market conditions and performance, ensuring employee motivation [166]. - The company has a training program, including the "Little Wolf Plan" for graduates and the "Apollo Plan" for mid-level managers, to enhance skills and management capabilities [168]. - The remuneration plan for senior management is directly approved by the board of directors [154]. Environmental and Social Responsibility - The report includes a section on environmental and social responsibilities, highlighting the company's commitment to sustainable practices [5]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities, and there were no administrative penalties related to environmental issues during the reporting period [185]. - The company has implemented measures to reduce carbon emissions, with specific details available in the annual social responsibility report [185]. - The company has committed to fulfilling social responsibilities, including poverty alleviation and rural revitalization, with details available in the annual social responsibility report [187].

Revenue and Profitability - The company's revenue for Q3 2021 reached ¥700,987,805.50, an increase of 47.29% compared to the same period last year[3] - Net profit attributable to shareholders was ¥90,236,287.39, reflecting a growth of 64.29% year-over-year[3] - The net profit after deducting non-recurring gains and losses was ¥80,249,162.12, up 75.81% from the previous year[3] - Basic earnings per share for the period were ¥0.21, a rise of 39.62% compared to the same period last year[3] - The company's operating revenue for the first three quarters of 2021 was RMB 2,112.73 million, an increase of RMB 695.27 million or 49.05% compared to the same period last year[11] - The net profit for the first three quarters of 2021 was RMB 355.76 million, representing an increase of RMB 141.59 million or 66.11% year-over-year[11] - Total operating revenue for Q3 2021 reached ¥2,112,732,227.08, a significant increase from ¥1,417,461,029.96 in the same period last year, representing a growth of approximately 49%[25] - Operating profit for Q3 2021 was ¥421,042,422.70, compared to ¥254,279,075.42 in Q3 2020, indicating an increase of about 65.5%[25] - Net profit attributable to shareholders of the parent company was ¥355,251,880.40, up from ¥215,270,774.20 in the previous year, reflecting a growth of approximately 65%[26] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥4,965,157,252.13, representing a 209.96% increase compared to the end of the previous year[3] - The company's total equity attributable to shareholders increased by 254.25% to ¥4,247,533,129.15 compared to the end of the previous year[4] - The company reported a significant increase in cash and cash equivalents, with a year-end balance of ¥2,452,526,054.20, up 226.15% from the previous year[6] - The company's accounts payable at the end of the period was RMB 328.82 million, an increase of RMB 212.13 million or 181.81% compared to the end of the previous year, due to increased procurement[10] - Total liabilities reached CNY 704,796,270.92, up from CNY 400,051,900.60, reflecting a growth of about 76%[23] - The company's equity attributable to shareholders rose to CNY 4,247,533,129.15 from CNY 1,199,004,473.80, indicating an increase of approximately 254%[23] - The total liabilities rose from ¥400,051,900.60 to ¥481,515,811.99, representing an increase of approximately 20.3%[32] - The long-term liabilities increased significantly from ¥8,861,420.32 to ¥62,016,855.57, marking a rise of about 600%[32] Cash Flow - The company's cash flow from operating activities showed a significant increase of 499.88%, totaling ¥347,996,708.52 year-to-date[3] - Operating cash inflow for the first nine months of 2021 was CNY 2,400.83 million, an increase of CNY 848.28 million or 54.64% compared to the same period in 2020, driven by rapid growth in sales scale and revenue[14] - Operating cash outflow for the first nine months of 2021 was CNY 2,052.83 million, an increase of CNY 558.29 million or 37.36% year-on-year, mainly due to increased payments for production procurement and marketing expenses[15] - The company achieved cash inflow from operating activities totaling ¥2,400,829,204.09, compared to ¥1,552,550,925.88 in the previous year, indicating a growth of about 54.6%[28] - The net cash flow from financing activities was ¥2,656,297,808.11, a significant increase compared to the previous year's net outflow of ¥68,780,753.23[29] Research and Development - The company's R&D expenses for the first three quarters of 2021 were RMB 68.48 million, an increase of RMB 21.08 million or 44.48% compared to the same period last year, reflecting increased investment in R&D activities[11] - Research and development expenses for Q3 2021 amounted to ¥68,481,467.15, compared to ¥47,399,552.53 in Q3 2020, marking an increase of about 44.5%[25] Inventory and Production - The company has seen a substantial increase in inventory, which rose by 98.82% to ¥504,500,859.14 compared to the previous year[6] - The company's inventory at the end of the period was RMB 504.50 million, an increase of RMB 250.75 million or 98.82% compared to the end of the previous year, due to proactive production and procurement for promotional activities[8] - The company's construction in progress at the end of the period was RMB 118.82 million, an increase of RMB 78.07 million or 191.60%, due to ongoing investments in new factory projects[8] Government Subsidies and Financial Activities - The company received government subsidies amounting to ¥13,781,784.92 during the reporting period, primarily related to stock listing rewards[5] - The company's investment income for the first three quarters of 2021 was RMB 8.00 million, a substantial increase of RMB 6.88 million or 610.49% year-over-year, attributed to returns from financial products[11] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 25,969, with the largest shareholder, Kunming Nona Technology Co., Ltd., holding 46.08% of shares[17] - Kunming Nona Technology Co., Ltd. and Yunnan Haqi Enterprise Management Co., Ltd. are controlled by the same actual controller, Zhenyu Guo[18] - The company plans to lift restrictions on shares held by major shareholders on March 25, 2022, and March 25, 2024, for various shareholders[19] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[22] - The increase in cash reserves positions the company well for potential acquisitions and strategic investments in the coming quarters[21] Financial Reporting and Standards - The company has not yet audited the third-quarter report, indicating that the figures are preliminary[34] - The company is implementing new leasing standards starting from 2021, which may affect future financial reporting[30]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15% compared to RMB 1.04 billion in the same period of 2020[7]. - The net profit attributable to shareholders for the first half of 2021 was RMB 250 million, an increase of 20% from RMB 208 million in the first half of 2020[7]. - Future outlook includes a projected revenue growth of 20% for the full year 2021, aiming for a total revenue of RMB 2.4 billion[7]. - The company achieved operating revenue of CNY 1,411,744,421.58, representing a year-on-year increase of 49.94%[13]. - Net profit attributable to shareholders reached CNY 265,015,593.01, up 65.28% compared to the same period last year[13]. - The total revenue from skincare products reached CNY 1,257,171,406.47, reflecting a year-on-year increase of 49.88%, while the cost of goods sold rose by 93.62%[48]. - The company reported a significant increase in inventory, which rose to CNY 309,527,860.07, reflecting proactive planning for upcoming sales events[51]. Research and Development - The company has allocated RMB 100 million for research and development in new technologies and product innovations for 2021[7]. - Research and development expenses rose by 85.24% to CNY 47.29 million, as R&D activities resumed normal operations after being significantly impacted by the COVID-19 pandemic in the previous year[46]. - The company launched new products in collaboration with nearly 200 skin care experts, showcasing new technologies and concepts[22]. Market Expansion and Strategy - The company plans to expand its product line by launching three new skincare products in the second half of 2021, targeting a 10% increase in market share[7]. - The company is exploring potential mergers and acquisitions to enhance its market presence and product offerings in the next fiscal year[7]. - The company is focusing on enhancing its e-commerce capabilities, with online sales accounting for 40% of total sales in the first half of 2021[7]. - The company has maintained a high online sales channel proportion, which is critical for its future development strategy and operational goals[36]. Financial Position and Cash Flow - The company reported a net cash flow from operating activities of CNY 365,150,864.65, a significant increase of 289.67%[13]. - The net cash flow from financing activities surged by 3,599.65% to CNY 2,679,865,083.07, mainly from the net proceeds of issuing ordinary shares and listing on the Shenzhen Stock Exchange[47]. - The company's cash and cash equivalents increased by CNY 1,342,120,924.56, marking a significant rise of 11,251.66%[47]. - The total assets at the end of the reporting period were CNY 4,744,651,632.24, a 196.19% increase from the end of the previous year[13]. Shareholder Information - The company launched its stock on the Shenzhen Stock Exchange on March 25, 2021, under the name "贝泰妮" with the stock code "300957"[20]. - The company issued a total of 63.6 million shares at a price of 47.33 RMB per share, raising approximately 3.01 billion RMB in total funds[107]. - The largest shareholder, Nona Technology, holds 46.08% of the shares, totaling 195,212,611 shares[111]. - The total number of shareholders at the end of the reporting period was 32,627[111]. Environmental and Social Responsibility - The company has established a "Baitaini Public Welfare Fund" with a donation of RMB 1.5 million to support youth development and ecological awareness[88]. - A donation of RMB 1 million was made to the Yunnan Red Cross to establish the "Winona Public Welfare Fund" for grassroots medical support and disaster relief[89]. - The company adheres to various environmental management standards, including ISO 14001, ensuring compliance with environmental laws and regulations[87]. - The company emphasizes green supply chain management and has implemented green procurement practices[87]. Risks and Challenges - The company faces risks from intensified competition in online sales channels, which could adversely affect revenue growth if not addressed[74]. - The company has experienced a rapid increase in customer acquisition costs, primarily due to competition on major e-commerce platforms[81]. - Seasonal sales fluctuations are significant, with major promotional events like "618" and "Double 11" leading to spikes in revenue during specific quarters[77]. Corporate Governance - The company has maintained stable management with no changes in directors, supervisors, or senior management during the reporting period[85]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[91]. - There were no violations regarding external guarantees during the reporting period[92]. - The semi-annual financial report was not audited[92].

Financial Performance - The company's operating revenue for Q1 2021 was ¥507,481,101.75, representing a 59.32% increase compared to ¥318,526,278.03 in the same period last year[5] - The net profit attributable to shareholders for Q1 2021 was ¥78,593,578.99, up 45.83% from ¥53,894,736.84 in the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥76,898,384.01, reflecting a 61.11% increase from ¥47,730,888.70 year-on-year[5] - Basic earnings per share for Q1 2021 were ¥0.22, an increase of 46.67% compared to ¥0.15 in the same period last year[5] - The diluted earnings per share for Q1 2021 were also ¥0.22, reflecting the same growth of 46.67% from ¥0.15 year-on-year[5] - The gross profit margin was 78.14%, remaining stable compared to the previous year[25] - Net profit reached 79.01 million RMB, up 46.46% year-on-year, while net profit attributable to shareholders was 78.59 million RMB, an increase of 45.83%[25] Cash Flow and Assets - The net cash flow from operating activities for Q1 2021 was ¥50,795,447.01, a significant improvement of 178.95% compared to a negative cash flow of ¥64,342,543.91 in the same period last year[5] - The company's cash and cash equivalents increased to ¥3,655,436,167.65, a rise of ¥2,903,483,960.86 or 386.13% compared to the end of 2020, primarily due to the issuance of 63,600,000 shares at ¥47.33 per share[14] - The total assets at the end of the reporting period were ¥4,483,434,474.80, which is a 179.89% increase from ¥1,601,869,244.94 at the end of the previous year[5] - The total current assets increased to CNY 4,223,640,428.24, compared to CNY 1,391,175,001.82 at the end of 2020, reflecting a growth of approximately 203.4%[48] - The total cash inflow from investment activities in Q1 2021 was RMB 320.76 million, a dramatic increase compared to the previous year[22] Liabilities and Equity - The total liabilities decreased to CNY 318,705,693.56 from CNY 400,051,900.60, showing a reduction of about 20.3%[50] - The equity attributable to shareholders of the parent company rose to CNY 4,161,494,827.74, compared to CNY 1,199,004,473.80, marking an increase of approximately 247.0%[51] - Total equity increased significantly to ¥3,981,201,376.90 from ¥1,059,444,515.66, representing a growth of approximately 275.5%[54] Operational Efficiency - Accounts receivable decreased to ¥156,861,621.49, down by ¥29,941,011.68 or 16.03%, attributed to improved collection management[15] - The company has a strong focus on improving its accounts receivable turnover, with 97.57% of accounts receivable being less than one year old[15] - The company reported a significant reduction in employee compensation payable, which decreased to CNY 32,952,976.12 from CNY 76,574,653.89, a drop of about 57.0%[50] Research and Development - R&D expenses in Q1 2021 amounted to RMB 22.84 million, a significant increase of RMB 11.56 million, representing a growth of about 102.56% compared to the previous year[20] - Research and development expenses for Q1 2021 were ¥22,840,643.93, compared to ¥11,276,131.03 in the previous year, indicating an increase of about 102.5%[56] - A significant investment in R&D will be made to improve product formulation and innovation, particularly focusing on the safety and efficacy of unique Yunnan plants[27] Market Strategy - The company plans to enhance its brand and product expansion strategy, focusing on the main brand "Winona" and expanding into new efficacy categories[27] - Plans to expand both online and offline marketing channels, including increasing cooperation with major e-commerce platforms and exploring Southeast Asian markets[29] - The "Winona" brand accounted for over 99% of the company's main business revenue during the reporting period, highlighting its critical importance to the company's financial performance[37] Risk Management - The company is actively addressing potential risks by enhancing its strategic adjustments and improving its member operation levels to increase customer retention and acquisition efficiency[40] - The company has established a series of management systems for quality control over its products, particularly for the sensitive skin care line under the "Winona" brand[38] - The company is committed to maintaining high-quality standards for its products, as any quality issues could adversely affect customer trust and brand loyalty[38]