Financial Performance - The company's operating revenue for Q3 2021 was CNY 194,766,224.09, a decrease of 14.45% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2021 was CNY 15,021,361.85, down 62.79% year-on-year[5] - The basic earnings per share for Q3 2021 was CNY 0.25, reflecting a decline of 72.00% compared to the previous year[5] - The net profit for Q3 2021 was CNY 39,406,080.04, a decrease of 26.6% compared to CNY 53,760,096.20 in Q3 2020[25] - Operating profit for Q3 2021 was CNY 47,319,459.69, down 29.8% from CNY 67,380,193.64 in Q3 2020[28] - The total profit for Q3 2021 was CNY 51,119,591.24, a decrease of 29.4% from CNY 72,453,342.79 in Q3 2020[25] - The company recorded a total comprehensive income of CNY 39,234,263.64, down 26.7% from CNY 53,539,328.78 in the previous year[26] Assets and Liabilities - Total assets at the end of Q3 2021 reached CNY 995,493,642.40, an increase of 95.01% from the beginning of the year[9] - Total liabilities decreased by 54.42% for short-term borrowings, amounting to CNY 10,027,254.65[9] - Total current assets amounted to ¥480,348,918.38, with cash and cash equivalents at ¥116,180,149.80 and accounts receivable at ¥202,662,010.68[34] - Total current liabilities were ¥147,877,308.68, with accounts payable at ¥47,412,741.93 and accrued employee compensation at ¥27,064,592.28[35] - Total liabilities amounted to ¥171,247,509.38, indicating an increase of ¥23,370,200.70[36] - The company’s total liabilities and equity reached ¥510,485,414.44, reflecting the adjustments made under the new leasing standards[36] Cash Flow - The net cash flow from operating activities for Q3 2021 was CNY 24,306,694.20, a decrease of 73.53% compared to the previous year[5] - The company reported a net cash inflow from operating activities of CNY 24,306,856.15, down 73.5% from CNY 91,826,694.20 in Q3 2020[30] - Cash and cash equivalents increased by 400.08% to CNY 580,988,396.74 due to the inflow of raised funds[9] - Cash and cash equivalents at the end of Q3 2021 stood at CNY 560,416,494.21, an increase from CNY 144,734,601.05 at the end of Q3 2020[31] Investments and Expenses - R&D expenses rose by 101.27% to ¥5,501,313.39, reflecting increased investment in research and development[10] - Investment income reached ¥3,166,217.26, marking a 100% increase due to new financial investment returns[10] - The company experienced a significant increase in financial expenses, with interest expenses recorded at CNY 867,368.26, down from CNY 1,354,781.13 in the previous year[28] Accounting and Policy Changes - The company has adjusted its accounting policies, leading to a reclassification of lease liabilities and related assets[6] - The company adopted new leasing standards effective January 1, 2021, resulting in a lease liability of ¥23,447,820.14 and a corresponding right-of-use asset of ¥23,476,990.30[37] - The company reported a decrease in other payables by ¥77,619.44 due to adjustments related to the new leasing standards[37] Government Support - The company received government subsidies amounting to CNY 4,194,338.83 for the year-to-date, contributing positively to its financial performance[8] Inventory and Receivables - Accounts receivable decreased to CNY 183,757,107.41 from CNY 202,662,010.68 at the start of the year, indicating improved collection efficiency[18] - Inventory increased to CNY 143,229,913.82 from CNY 122,581,782.26, reflecting a 16.8% rise in stock levels[19] - Contract liabilities increased to ¥4,813,067.5, a rise of 916.30% due to advance payments received under contracts not yet fulfilled[10] Miscellaneous - The third quarter report is unaudited, indicating that the figures may be subject to change upon final audit[38]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 380,287,923.63, representing a 0.36% increase compared to CNY 378,939,844.87 in the same period last year[20]. - Net profit attributable to shareholders decreased by 12.71% to CNY 33,816,510.79 from CNY 38,738,734.35 year-on-year[20]. - Basic earnings per share fell by 18.46% to CNY 0.53 from CNY 0.65 in the same period last year[20]. - The total comprehensive income for the first half of 2021 was CNY 33,636,861.01, down from CNY 38,959,038.86 in the previous year[172]. - Operating profit for the first half of 2021 was CNY 42,506,379.55, a decline of 13.5% from CNY 49,187,132.71 in the same period of 2020[171]. - The company reported a tax expense of CNY 11,640,161.09, compared to CNY 13,734,545.41 in the first half of 2020[171]. - The total operating costs increased to CNY 338,511,285.38, up 2.5% from CNY 329,465,733.29 in the previous year[171]. Cash Flow and Investments - The net cash flow from operating activities dropped significantly by 55.12% to CNY 28,284,687.40 compared to CNY 63,023,282.38 in the previous year[20]. - The company reported a significant increase in cash flow from financing activities, amounting to ¥449.83 million, compared to a negative cash flow of ¥13.66 million in the previous year[56]. - The cash inflow for operating activities was ¥457,710,620.62, slightly down from ¥480,873,733.12 in the first half of 2020[179]. - The company invested ¥20,000,000.00 in new projects during the first half of 2021, compared to no investments in the same period last year[183]. - The company’s cash flow from investment activities was negative at -¥20,439,306.00, compared to -¥1,955,273.12 in the first half of 2020[183]. Assets and Liabilities - Total assets increased by 98.36% to CNY 966,028,979.11 from CNY 487,008,424.14 at the end of the previous year[20]. - Cash and cash equivalents at the end of the reporting period amounted to ¥593.65 million, representing 61.45% of total assets, a significant increase of 37.59% compared to ¥116.18 million (23.86%) at the end of the previous year[63]. - Accounts receivable decreased by 23.32% to ¥176.67 million (18.29%) from ¥202.66 million (41.61%) year-over-year[63]. - Total liabilities amounted to ¥147,126,712.64, slightly down from ¥147,877,308.68, showing a decrease of about 0.5%[163]. - The company’s short-term borrowings decreased to ¥8,073,287.40 from ¥22,000,000.00, a reduction of approximately 63.3%[163]. Shareholder Information - The company raised a total of ¥510.80 million through its initial public offering, with a net amount of ¥446.03 million after deducting issuance costs[68]. - The total number of shares held by major shareholders remains unchanged at 60 million[144]. - Major shareholders include Wang Li with 39.00% (31,200,000 shares), Xu Lei with 10.50% (8,400,000 shares), and Zhuhai Shengguang Yismeng No. 1 Cultural Investment Partnership with 9.00% (7,200,000 shares)[147]. - The company completed its initial public offering (IPO) of 20 million shares, increasing the total share capital from 60 million to 80 million shares[141]. Business Operations and Market Position - The company provides comprehensive e-commerce services and customer relationship management, covering major online platforms such as Tmall, JD.com, and others[27]. - The company has collaborated with nearly 100 brands, including Swarovski and Unilever, enhancing its service scale and product sales[34]. - The company anticipates continued growth in service demand as consumer spending power increases in lower-tier cities[33]. - The company is recognized as a five-star service provider on Tmall, ranking in the top 6% of certified service providers[36]. - The company’s business model includes brand online sales services, brand online operation services, and customer relationship management services[28]. Research and Development - Research and development expenses surged by 84.57% to ¥3.52 million, reflecting the company's increased investment in R&D[56]. - The company has developed its own e-commerce operation management software (OMS), warehouse management software (WMS), and financial management system (FMS) to ensure data security and operational efficiency[43]. - The company plans to enhance its technology platform and develop a big data system to support personalized marketing and data value extraction[89]. - The company aims to transform its service center into an intelligent customer operation center using AI and machine learning to improve operational efficiency[90]. Social Responsibility and Compliance - The company actively engages in social responsibility initiatives, including donations to underprivileged children and support for pandemic response efforts[108]. - The company employs eight disabled individuals, demonstrating its commitment to social inclusion[108]. - The company has established a comprehensive consumer personal information protection system, ensuring compliance with third-party platform and brand authorization agreements[46]. - The company has not faced any administrative penalties related to personal privacy infringement or other legal risks during the reporting period[46]. Risk Management - The company has disclosed potential risks and countermeasures in its management discussion section[4]. - The company faces risks from intensified industry competition, which may impact pricing power and profitability[81]. - The company plans to strengthen the management of fundraising projects to improve the efficiency of fund utilization[93].