Financial Performance - The company's operating revenue for 2021 was ¥1,924,962,891.05, representing a 46.04% increase compared to ¥1,318,133,279.53 in 2020[26]. - The net profit attributable to shareholders for 2021 was ¥298,438,802.31, a 45.15% increase from ¥205,604,985.45 in 2020[26]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥297,630,676.36, up 50.49% from ¥197,772,750.21 in 2020[26]. - The total assets at the end of 2021 reached ¥3,097,471,136.38, a significant increase of 130.52% from ¥1,343,673,976.22 at the end of 2020[26]. - The net assets attributable to shareholders at the end of 2021 were ¥2,495,318,592.47, reflecting a 192.43% increase from ¥853,308,305.14 at the end of 2020[26]. - The basic earnings per share for 2021 was ¥4.59, a 33.82% increase compared to ¥3.43 in 2020[26]. - The company reported a net cash flow from operating activities of ¥255,119,728.89 in 2021, which is a 7.46% increase from ¥237,405,369.23 in 2020[26]. Dividend and Capital Management - The company plans to distribute a cash dividend of 12.00 RMB per 10 shares to all shareholders, totaling 80,000,000 RMB[8]. - The company will increase its capital reserve by converting 6 shares for every 10 shares held by shareholders[8]. Market Expansion and Strategy - The company is focusing on expanding its market presence in the U.S., Canada, Australia, and parts of Europe, where demand for home improvement products has surged[41]. - The company has established a wholly-owned subsidiary in Singapore to expand its international market presence, leveraging Singapore's strategic location and resources[73]. - The company plans to cautiously consider establishing new marketing and service institutions in Europe and North America to expand its international market presence[165]. - The company is focusing on expanding its presence in the Chinese market and promoting its own brands, including MOTO and MotoMotion[168]. Research and Development - R&D expenses reached RMB 93.82 million, a year-on-year increase of 31.50%, accounting for 4.87% of total revenue, with 271 R&D personnel by the end of 2021[72]. - The company has 377 patents as of the end of 2021, emphasizing its commitment to innovation and intellectual property protection[72]. - The company has completed the development of a voice-controlled smart sofa, enhancing its product offerings in the IoT space[119]. - The company has developed a lightweight inclined smart electric bed, which is currently in the small batch trial production stage, aimed at improving logistics advantages and market competitiveness[125]. Operational Efficiency and Cost Management - The total operating costs for 2021 amounted to ¥1,370,963,685.66, a significant increase from ¥850,872,548.10 in 2020[109]. - Raw materials accounted for 72.60% of the total operating costs in 2021, down from 76.32% in 2020, with a total cost of ¥995,387,663.52[109]. - The company is addressing raw material price volatility by optimizing supply chain resources and improving production efficiency[183]. Governance and Compliance - The company emphasizes the importance of accurate and complete financial reporting, with key personnel affirming the integrity of the annual report[6][7]. - The company has established a complete governance structure, including a shareholder meeting, board of directors, and supervisory board[198]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[192]. - The company maintains independence in assets, personnel, finance, organization, and business from its controlling shareholders[197]. Risks and Challenges - The company faces risks from macroeconomic downturns, which could affect consumer purchasing power and willingness, impacting overall performance[180]. - The company is exposed to overseas market risks due to international trade protectionism, which may increase tax costs and affect operational performance[181]. - The company acknowledges the low market share of smart furniture in the domestic market and the potential impact of real estate market fluctuations on its growth[182]. Investor Relations and Transparency - The company has a comprehensive investor relations strategy, including a dedicated email for inquiries[21]. - The company’s website provides access to its annual reports and other investor information, promoting transparency[22]. - The company has a dedicated information disclosure office to ensure accurate and timely information dissemination to investors[193]. Production and Supply Chain - The company has achieved vertical integration in its supply chain, producing key components in-house since 2015, which has enhanced its competitive advantage[98]. - The company’s production in Vietnam has surpassed that in China, reflecting a strategic shift to mitigate tariffs and enhance competitiveness[68]. - The company has established six new subsidiaries during the reporting period to enhance its business structure and competitiveness[113].

Financial Performance - The company's operating revenue for 2021 was ¥1,924,962,891.05, representing a 46.04% increase compared to ¥1,318,133,279.53 in 2020[25]. - Net profit attributable to shareholders for 2021 was ¥298,438,802.31, up 45.15% from ¥205,604,985.45 in 2020[25]. - The net profit after deducting non-recurring gains and losses was ¥297,630,676.36, reflecting a 50.49% increase from ¥197,772,750.21 in 2020[25]. - The company's cash flow from operating activities was ¥255,119,728.89, a 7.46% increase from ¥237,405,369.23 in 2020[25]. - Basic and diluted earnings per share for 2021 were both ¥4.59, a 33.82% increase from ¥3.43 in 2020[25]. - Total assets attributable to shareholders reached ¥3,097,471,136.38, a 130.52% increase from ¥1,343,673,976.22 in 2020[25]. - The company reported a weighted average return on equity of 22.38% at year-end, down from 27.27% in 2020[25]. - The total amount of funds raised in 2021 was RMB 145,380.00 million, with a net amount of RMB 137,822.74 million after deducting underwriting and sponsorship fees[142]. Market Expansion and Strategy - The company is focusing on expanding its market presence in the U.S., Canada, Australia, and parts of Europe, driven by increased consumer spending on home improvement[40]. - The company has established a wholly-owned subsidiary in Singapore to leverage its strategic location for market expansion in Southeast Asia[73]. - The company is considering establishing new marketing and service institutions in Europe and potentially a production base in North America to expand its international market presence[163]. - The company has been actively expanding its international presence, including production and marketing layouts in Southeast Asia[104]. - The company is closely monitoring the rapid growth of cross-border e-commerce in the home goods sector, which has seen a nearly tenfold increase in scale over the past five years[44]. Research and Development - R&D expenses reached RMB 93.82 million, a year-on-year increase of 31.50%, representing 4.87% of total revenue, with 271 R&D personnel by the end of 2021[72]. - The company completed the development of a voice-controlled smart sofa, enhancing its product offerings in the IoT space[119]. - The company is developing a smart medical care bed to reduce the workload of caregivers and enhance user comfort[126]. - The company has completed the project for a multifunctional coffee table integrated with smart sofas, enhancing storage space and functionality[126]. - The number of R&D personnel increased by 29.67% from 209 in 2020 to 271 in 2021[126]. Governance and Compliance - The company maintains a strong governance structure, ensuring compliance with relevant laws and regulations while protecting shareholder rights[189]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[190]. - The company has established a performance evaluation system for senior management, linking their performance directly to compensation[195]. - The company has a complete financial accounting system and independent financial decision-making capabilities[196]. - There are no significant discrepancies between the company's governance practices and the regulations set by the China Securities Regulatory Commission[194]. Risks and Challenges - The company faces risks from macroeconomic downturns that could affect consumer purchasing power and willingness to buy smart furniture products[178]. - The company is exposed to overseas market risks due to international trade protectionism and rising shipping costs, which could impact operational performance[179]. - The company is vulnerable to fluctuations in raw material prices, which significantly impact its main business costs[181]. - The company is actively monitoring the global COVID-19 situation to minimize its impact on production and sales[184]. - The company recognizes a significant gap between its performance and that of leading global furniture companies, with La-Z-Boy reporting revenue of RMB 10.617 billion and Natuzzi RMB 3.086 billion in 2021[83]. Product and Service Development - The company has established a dedicated automation department to focus on process automation and the design, production, and use of automated equipment[57]. - The company has developed a new two-wire Hall motor to improve the precision of smart home control systems[126]. - The company is in the small batch trial production phase for a smart bed with safety features to prevent injuries during movement[126]. - The company has successfully established a stable customer base, with all top 20 customers showing varying degrees of revenue growth in 2021[97]. - The company plans to provide more value-added services to strengthen customer loyalty in the future[97]. Financial Management - The total operating cost for 2021 was CNY 1,370,963,685.66, a significant increase from CNY 850,872,548.10 in 2020[109]. - Raw materials accounted for 72.60% of the total operating cost in 2021, down from 76.32% in 2020, with a total cost of CNY 995,387,663.52[109]. - The company reported a foreign exchange loss of RMB 16.09 million from total foreign currency receipts of $293 million, highlighting insufficient foreign exchange risk management[89]. - The company has not reported any issues or other circumstances regarding the use and disclosure of raised funds[153]. - The company has not experienced any significant changes in the feasibility of the investment projects[149].

Financial Performance - The company's revenue for Q3 2021 reached ¥507,581,876.70, representing a year-over-year increase of 21.85%[4] - Net profit attributable to shareholders for the same period was ¥85,920,348.76, up 28.95% compared to the previous year[4] - The net profit after deducting non-recurring gains and losses was ¥84,943,303.62, reflecting a 29.36% increase year-over-year[4] - Basic earnings per share for Q3 2021 were ¥1.43, an increase of 28.83% year-over-year[4] - The company's operating revenue for Q3 2021 reached ¥1,489,688,255.43, a 70.38% increase compared to ¥874,317,207.81 in the same period last year[9] - The net profit for the period increased to ¥638,052,943.45, reflecting a 56.68% growth from ¥407,241,213.61 year-on-year[9] - Net profit for Q3 2021 was ¥236,402,113.57, compared to ¥154,449,829.81 in Q3 2020, reflecting a growth of approximately 53.1%[31] - Earnings per share for Q3 2021 were ¥3.94, an increase from ¥2.57 in the same quarter last year, marking a rise of about 53.3%[31] - The total comprehensive income for Q3 2021 was ¥243,044,267.35, compared to ¥154,018,079.02 in the same period last year, indicating a growth of approximately 57.9%[31] Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥3,076,918,681.64, a significant increase of 128.99% from the end of the previous year[5] - Shareholders' equity attributable to the parent company reached ¥2,443,368,455.73, marking a 186.34% increase compared to the previous year[5] - The total liabilities as of Q3 2021 amounted to ¥633,550,225.91, compared to ¥490,365,671.08 in the previous year, showing an increase of approximately 29.2%[26] - The total equity attributable to shareholders of the parent company reached ¥2,443,368,455.73, up from ¥853,308,305.14 in the same period last year, representing a growth of about 186.5%[26] - The total assets of the company were CNY 1,343,673,976.22, a decrease from CNY 1,428,480,165.59[42] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥148,280,375.02, up 25.41% year-over-year[4] - Cash inflow from operating activities increased to ¥1,639,646,087.35, up from ¥1,068,399,422.89, representing a growth of approximately 53.4%[34] - Cash inflow from financing activities amounted to ¥1,515,446,258.49, a substantial increase compared to ¥223,916,601.00 previously[36] - Net cash flow from financing activities was ¥1,363,302,372.26, compared to ¥101,560,844.48 in the prior period, reflecting a significant rise[36] - The total cash and cash equivalents at the end of the period reached ¥2,073,540,001.50, up from ¥579,888,942.23, marking an increase of approximately 258.5%[36] Expenses - Research and development expenses rose to ¥67,941,860.36, marking a 39.53% increase from ¥48,694,828.89, driven by increased investment in new product development[9] - Total operating costs for Q3 2021 were ¥1,219,450,901.51, up from ¥714,155,555.65 in the previous year, indicating an increase of about 70.6%[29] - The company reported a tax expense of ¥32,074,409.61 for Q3 2021, up from ¥12,727,691.56 in the same quarter last year, reflecting an increase of about 152.3%[29] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 24,224, indicating a broad shareholder base[12] - The company appointed Xu Meijun as the new General Manager, effective from September 28, 2021, following the resignation of the previous General Manager, Li Xiaoqin[16] Strategic Initiatives - The company plans to establish a wholly-owned subsidiary, Jiangsu Jiangxin Medical Technology Co., Ltd., in Changzhou, and another subsidiary, MotoMotion Singapore Private Limited, in Singapore to enhance brand recognition and market competitiveness[17] - The board approved the use of up to RMB 700 million of idle funds for cash management, allowing for rolling use of these funds while ensuring operational needs are met[18] - The company will utilize RMB 100 million of excess raised funds for permanent working capital supplementation, which does not exceed 30% of the total excess funds raised[21]