Financial Performance - The company's operating revenue for 2021 was CNY 520,378,482.16, representing a 35.16% increase compared to CNY 385,011,656.29 in 2020[18]. - The net profit attributable to shareholders for 2021 was CNY 140,321,564.75, a 29.87% increase from CNY 108,050,309.10 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 135,200,716.30, up 39.55% from CNY 96,884,826.96 in 2020[18]. - The total assets at the end of 2021 reached CNY 1,209,190,049.14, a 70.49% increase from CNY 709,230,841.96 at the end of 2020[18]. - The net assets attributable to shareholders increased by 75.70% to CNY 1,139,584,780.86 from CNY 648,595,146.15 in 2020[18]. - The basic earnings per share for 2021 was CNY 1.19, reflecting a 9.17% increase from CNY 1.09 in the previous year[18]. - The net cash flow from operating activities was CNY 151,548,080.32, a slight increase of 2.02% compared to CNY 148,550,029.80 in 2020[18]. - The company's total revenue for 2021 reached ¥520,378,482.16, representing a year-on-year increase of 35.16% compared to ¥385,011,656.29 in 2020[83]. - The revenue from adjustable light fabrics grew significantly by 45.16%, amounting to ¥162,230,366.19 in 2021, up from ¥111,758,851.64 in 2020[83]. - The company generated 70.40% of its revenue from overseas markets, totaling ¥366,356,296.09, which is a 38.05% increase from ¥265,375,024.04 in the previous year[83]. Market Position and Industry Overview - The functional shading product market penetration in China was less than 5% in 2021, indicating significant growth potential as government support increases[27]. - The global functional shading industry is expanding, driven by energy-saving policies and increasing consumer recognition of the benefits of shading products[30]. - The company operates in a competitive landscape with approximately 3,000 enterprises in the functional shading industry in China, of which about 180 have annual sales exceeding CNY 30 million[27]. - The company has identified opportunities for market expansion, particularly in developed countries where shading products have a market share exceeding 70%[28]. - The demand for shading products is relatively stable in the short term, with seasonal fluctuations typically occurring in the first quarter due to the Spring Festival holiday[33]. - The company is positioned as a leader in the Chinese architectural shading industry, actively participating in the global high-end market competition[37]. - The functional shading products have a market share of 70% in developed economies like Europe and North America, indicating a mature market with high consumer recognition[124]. - In China, the market share of functional shading products was only 4.27% in 2021, suggesting significant growth potential as the market matures[127]. Research and Development - The company is focused on enhancing its R&D capabilities to improve product quality and expand its market presence in the high-end segment[27]. - The company holds over 80 authorized patents and has established long-term strategic partnerships with universities and research institutions, enhancing its technological advantage in the shading industry[34]. - The total R&D investment for 2021 was CNY 17,449,658.08, representing 3.35% of operating revenue, up from 3.14% in 2020[96]. - The number of R&D personnel increased by 12.66% to 89 in 2021, with a notable rise in the proportion of employees under 30 years old, which increased by 85.71%[95]. - The company is developing high-reflective shading materials to enhance energy-saving capabilities, aligning with national energy reduction initiatives[93]. - The company is focused on increasing its R&D capabilities and aims to improve the conversion rate of research results into new profit growth points[133]. Corporate Governance and Management - The management team is experienced and stable, with a strong ability to navigate operational risks and implement strategic plans effectively[76]. - The company has a diverse management team with backgrounds in finance, engineering, and textile industries, enhancing its operational capabilities[173][176]. - The board of directors consists of 7 members, including 3 independent directors, and convened 9 meetings during the reporting period to make informed decisions[154]. - The supervisory board has 3 members, including 1 employee representative, and held 7 meetings to oversee the company's financial status and major matters[155]. - The company adheres to strict information disclosure regulations, ensuring timely and accurate communication with investors through designated media[157]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring a complete and independent business system[162]. - The company has established independent financial management practices, including a separate financial department and independent bank accounts[166]. - The company has a complete business process and independent operational capabilities, with no reliance on controlling shareholders for business operations[168]. Risk Management and Future Outlook - The company faces risks from fluctuations in raw material prices, particularly polyester fiber and PVC, which are influenced by international oil prices[137]. - The company will monitor raw material price trends and may adjust product prices to mitigate cost pressures from raw material fluctuations[137]. - The company is committed to effectively advancing fundraising project construction to minimize the time from fixed asset investment to project production[143]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[149]. - The company plans to enhance production efficiency and aims to complete its expansion projects by 2022 to release new capacity[132]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 2 per 10 shares and a capital reserve conversion of 8 shares for every 10 shares held[5]. - The total cash dividend amount is 26,336,000 yuan, which accounts for 100% of the total profit distribution[197]. - The distributable profit for the year is reported at 135,200,716.30 yuan[197]. Employee and Labor Management - The total number of employees at the end of the reporting period is 882, with 571 in production, 57 in sales, 120 in technology, 10 in finance, and 124 in administration[192]. - The company emphasizes talent development and has established a training plan for employees across various levels[195]. - The company strictly adheres to labor laws and maintains competitive salary standards within the industry[194].

Financial Performance - The company's revenue for Q1 2022 was CNY 114,023,864.81, representing a 9.64% increase compared to CNY 103,993,915.03 in the same period last year[5] - Net profit attributable to shareholders decreased by 12.77% to CNY 26,934,322.09 from CNY 30,876,117.50 year-on-year[5] - The gross profit margin was impacted by rising costs, with operating costs increasing by 20.09% year-on-year due to geopolitical factors[11] - The company reported a decrease in basic and diluted earnings per share by 35.48% to CNY 0.20 from CNY 0.31 in the same period last year[5] - Net profit for Q1 2022 was ¥26,934,322.09, compared to ¥30,876,117.50 in the same period last year, reflecting a decrease of approximately 12.5%[26] - Earnings per share (EPS) for Q1 2022 was ¥0.20, down from ¥0.31 in the previous year[27] Cash Flow and Liquidity - The net cash flow from operating activities fell by 31.89% to CNY 11,279,228.42, down from CNY 16,560,479.58 in the previous year[12] - The cash inflow from operating activities totaled $125,565,123.95, an increase of 15.8% compared to $108,464,455.52 in the previous period[30] - The net cash flow from operating activities was $11,279,228.42, down 31.5% from $16,560,479.58 in the previous period[30] - The cash and cash equivalents at the end of the period were $516,911,874.08, compared to $237,425,362.16 at the end of the previous period, reflecting a significant increase[31] - The cash outflow from operating activities totaled $114,285,895.53, up 24.3% from $91,903,975.94 in the previous period[30] - The cash received from tax refunds was $10,683,430.14, significantly higher than $3,347,209.74 in the previous period, indicating improved tax recovery[30] Assets and Liabilities - The company's total assets increased by 1.52% to CNY 1,227,591,996.64 compared to CNY 1,209,190,049.14 at the end of the previous year[6] - Non-current assets totaled ¥480,601,189.06, an increase from ¥442,676,136.03 year-on-year[23] - Total liabilities decreased to ¥61,105,011.75 from ¥69,605,268.28 year-on-year[23] - The company reported a total of 746,990,807.58 yuan in current assets as of March 31, 2022, down from 766,513,913.11 yuan at the beginning of the year[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 9,855[15] - The largest shareholder, Sun Chengzhi, holds 26.58% of shares, totaling 35,000,000 shares[15] - The company has a total of 98,760,000 shares under lock-up agreements, with the earliest release date on May 24, 2022[19] - The company has committed to a 36-month lock-up period for major shareholders' initial public offering shares[18] - The total number of shares held by the top ten unrestricted shareholders is 898,872 shares[15] - The company has no preferred shareholders as per the report[17] Research and Development - Research and development expenses surged by 108.18% to CNY 5,352,768.50, up from CNY 2,571,280.18, indicating increased investment in innovation[11] - The company reported R&D expenses of ¥5,352,768.50, significantly higher than ¥2,571,280.18 in the previous year, indicating a focus on innovation[26] Inventory and Accounts Receivable - The company's inventory increased by 11.71% to CNY 131,924,767.67, driven by strong customer demand and a rise in orders[9] - Accounts receivable increased to 49,099,303.62 yuan from 42,077,905.83 yuan[21] - Inventory rose to 131,924,767.67 yuan compared to 118,094,516.34 yuan at the start of the year[21]

Financial Performance - The company's revenue for Q3 2021 reached ¥140,798,218.23, representing a 48.03% increase year-over-year[4] - Net profit attributable to shareholders was ¥42,327,139.51, an increase of 87.83% compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses was ¥41,422,636.07, up 96.64% year-over-year[4] - Total operating revenue for the period reached CNY 374,765,098.45, a 45% increase from CNY 258,247,483.31 in the previous period[21] - Operating profit amounted to CNY 122,006,330.14, up 54% from CNY 79,194,468.05 year-over-year[22] - Net profit for the period was CNY 106,831,922.30, representing a 46% increase compared to CNY 73,088,836.66 in the same period last year[22] - The company reported a total comprehensive income of CNY 106,800,338.46, compared to CNY 72,961,407.18 in the previous year[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,165,286,151.54, a 64.30% increase from the end of the previous year[5] - Total assets increased to CNY 1,165,286,151.54 as of September 30, 2021, up from CNY 709,230,841.96 at the end of 2020, representing a growth of approximately 64.4%[19] - Total liabilities decreased slightly to CNY 59,070,423.91 from CNY 60,635,695.81, a reduction of approximately 2.6%[19] - The company has a significant increase in non-current assets, totaling CNY 393,187,272.02, up from CNY 316,261,719.09, which is an increase of approximately 24.4%[18] Equity and Shareholder Information - The company’s total equity attributable to shareholders rose to ¥1,106,215,727.63, a 70.56% increase from the previous year[5] - The total equity attributable to shareholders of the parent company increased to CNY 1,106,215,727.63 from CNY 648,595,146.15[22] - The company reported a total of 18,277 common shareholders at the end of the reporting period[14] - The top shareholder, Sun Chengzhi, holds 26.58% of the shares, totaling 35,000,000 shares[14] - Share capital increased to CNY 131,680,000.00 from CNY 98,760,000.00, representing a growth of about 33.4%[19] Cash Flow - The company's cash flow from operating activities for the first nine months was ¥80,126,630.44, a 4.86% increase compared to the same period last year[12] - Cash flow from operating activities generated a net amount of CNY 80,126,630.44, compared to CNY 76,410,539.28 in the prior period[25] - The company reported a significant increase in cash and cash equivalents, with a net increase of ¥249,148,922.44, a 660.94% rise compared to the previous year[12] - The cash and cash equivalents at the end of the period amounted to ¥508,397,723.14, up from ¥218,080,116.88 in the same period last year, reflecting a net increase of ¥249,148,922.44[26] - The total cash inflow from financing activities was ¥366,218,792, while cash outflow was ¥15,382,265.87, resulting in a net cash flow of ¥350,836,526.58, a substantial improvement from -¥14,814,000 in the previous year[26] - The net cash flow from investment activities was -¥181,378,793, compared to -¥33,047,386 in the previous year, indicating a significant increase in cash outflow[26] Research and Development - Research and development expenses increased to ¥10,314,245.17, reflecting a 29.14% rise year-over-year due to increased investment in R&D projects[11] - Research and development expenses were CNY 10,314,245.17, up from CNY 7,986,660.91, indicating a focus on innovation[21] Operational Metrics - The gross profit margin for the first nine months was impacted by a 53.61% increase in operating costs, primarily due to increased demand and order volume[11] - Earnings per share (EPS) increased to CNY 0.94, up from CNY 0.74 in the previous year[23] Other Information - The company did not adjust the beginning balance sheet items due to the new leasing standards implemented from January 1, 2021, as it did not affect the previous financial statements[27] - The third quarter report was not audited, which may impact the reliability of the financial data presented[29]

Financial Performance - The company's operating revenue for the reporting period reached ¥233,966,880.22, representing a 43.42% increase compared to ¥163,133,834.79 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥64,504,782.79, up 27.60% from ¥50,553,461.78 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥62,125,058.19, reflecting a 37.71% increase from ¥45,112,235.25 in the same period last year[18]. - The net cash flow from operating activities was ¥54,290,689.37, an increase of 28.87% compared to ¥42,129,235.97 in the previous year[18]. - Basic earnings per share rose to ¥0.62, a 21.57% increase from ¥0.51 in the same period last year[18]. - The company's revenue for the reporting period was approximately ¥233.97 million, representing a year-over-year increase of 43.42% due to reduced pandemic impact and increased downstream demand[50]. - Operating costs increased to approximately ¥130.19 million, a 52.10% rise compared to the previous year, primarily driven by increased orders and sales[50]. - Research and development expenses rose to approximately ¥6.29 million, reflecting a 14.28% increase as the company intensified its R&D efforts[50]. - The gross margin for the shading fabric product decreased by 0.82% to 34.90%, while the adjustable light fabric's gross margin decreased by 1.08% to 53.88%[52]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,127,762,262.09, a 59.01% increase from ¥709,230,841.96 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company were ¥1,063,862,625.74, up 64.03% from ¥648,595,146.15 at the end of the previous year[18]. - The company's total assets increased significantly, with cash and cash equivalents accounting for 47.38% of total assets, up from 36.88% the previous year[58]. - The total liabilities as of June 30, 2021, were RMB 63,899,636.35, compared to RMB 60,635,695.81 at the end of 2020, showing a slight increase of approximately 3.7%[157]. - The accounts receivable rose to RMB 45,699,364.68 from RMB 36,109,825.37, marking an increase of approximately 27%[155]. - The inventory value increased to RMB 101,482,869.60 from RMB 82,878,740.09, reflecting a growth of about 22%[155]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company completed its initial public offering in May 2021, increasing its total shares by 32,920,000 to a total of 131,680,000 shares[134]. - Major shareholders include Sun Chengzhi with a 26.58% stake (35,000,000 shares) and Shandong Yuma Baofeng Investment Co., Ltd. with a 19.74% stake (26,000,000 shares)[141]. - The lock-up period for pre-IPO restricted shares is set for 12 to 36 months depending on the shareholder[138]. - The company’s major shareholders have a lock-up period until May 24, 2024, for their pre-IPO shares[137]. Market and Industry Position - The company focuses on the research, production, and sales of functional shading materials, including blackout fabrics, adjustable light fabrics, and sunlight fabrics, which are recognized as strategic emerging industries in China[25]. - The company is recognized as a leading enterprise in the functional shading materials industry in China, with a strong emphasis on product quality and R&D capabilities[34]. - The company’s overseas sales accounted for 70% of its main business revenue, with products exported to over 70 countries and regions across six continents[31]. - The demand for functional shading products is rapidly increasing as consumers shift from decorative fabric curtains to functional shading solutions, reflecting a growing preference for brand recognition and product value[36]. - The establishment and improvement of industry standards are promoting the healthy development of the building shading industry, with multiple national and industry standards released by the Ministry of Housing and Urban-Rural Development[38]. Risk Management - The company plans to enhance its management system and optimize business processes to mitigate management risks associated with its expanding scale[87]. - The company is actively monitoring market conditions and policies to manage risks related to its fundraising projects, which are crucial for future profitability[89]. - The company has implemented measures to buffer against rising raw material prices, including price adjustments and advance procurement[90]. - The company emphasizes continuous R&D investment to develop new products that meet market demands, despite the risks associated with potential development failures[91]. Corporate Governance - The company strictly adheres to legal regulations to protect shareholder and investor rights, ensuring timely information disclosure[102]. - The company has no significant litigation or arbitration matters during the reporting period[115]. - The company has not engaged in any asset or equity acquisition or sale transactions during the reporting period[119]. - The company reported no related party debts or significant transactions during the reporting period[121][123]. Environmental and Social Responsibility - The company is not classified as a key pollutant discharge unit and has no major environmental issues during the reporting period[100]. - The company emphasizes customer and supplier rights protection, maintaining long-term cooperative relationships[101].